Document:

EX-10.19

 Exhibit 10.19 

 
 

 
 ADENDUM 
  

			
	Date:	  	June 7, 2019
	By and Between	  	
	    Lessor:	  	585 Howard Street Partners, a California general partnership
	    Lessee:	  	Nuvation Bio Inc., a Delaware corporation
	Property Address:	  	The entire third floor (approx. 8,200 sq. ft.) of 585 Howard
		  	Street, San Francisco, CA 94105
		  	(street address, city, state, zip)

 Paragraph: 50 Base Rent. Monthly Base Rent payable during the Term shall be as follows: 

Months 1 - 12: $56,717.00 

Months 13 - 24: $58,418.51 

Months 25 - 38: $60,171.07 
 Paragraph 51:
Security Deposit. The Security Deposit is $421,197.49. Provided that there is no Default by Lessee of its obligations under the Lease that has not been cured within the applicable cure period, then Lessee shall have the right to have
$60,171.07 of the Security Deposit applied to Base Rent payable for each of months 33, 34, 35, 36, 37 and 38 of the Term. 
 Paragraph 52:
FF&E. In the event that Lessee purchases the furniture and equipment (“FF&E”) brought to the Premises by AltSchool, PBC, the prior lessee of the Premises, then Lessor shall have no obligation to remove the
FF&E from the Premises prior to the Commencement Date. 
 Paragraph 53: Contingency. This Lease shall not be effective unless and until
Lessor and AltSchool, PBC, the previous lessee of the Premises, enter into a binding Lease Termination Agreement acceptable to both parties. 
 Paragraph
54: Assignment and Subletting. 
 (a) Notwithstanding any provision to the contrary set forth in this Lease, Lessee may, upon at least ten
(10) business days prior written notice to Lessor that provides in reasonable detail the nature of the transaction and the parties thereto, sublet the Premises or assign the Lease to any of the following parties without obtaining Lessor’s
consent: (a) an entity controlling, controlled by or under common control with Lessee, (b) a successor entity to Lessee by reason of merger, consolidation, nonbankruptcy reorganization, or governmental action, or (c) a purchaser of
all or substantially all of Lessee’s assets or capital stock. 
 (b) Notwithstanding any provision to the contrary set forth in this Lease, Lessee may,
without obtaining Lessor’s consent but upon at least ten (10) business days prior written notice to Lessor that provides in reasonable detail the nature of the transaction and the parties thereto, grant a license or licenses (a
“Desk Space License”) to one or more persons who have ongoing business relationships with Lessee, such as, without limitation, strategic partners, consultants or clients of Lessee, to use not more than twenty percent (20%) of the
Premises at one time when aggregated with all of the other space therein being used pursuant to a Desk Space License, provided that: (i) Lessee 

  

					
	                    	  	                    	  	
	
                   
 
	  	                    	  	
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shall not separately demise any space within the Premises or otherwise act in a way to cause the Premises to appear other than as a single Lessee space; (ii) at least ten (10) business
days prior to any such licensee(s) taking possession of any portion of the Premises, Lessee delivers to Lessor a copy of the license agreement setting forth the terms of such license, if one is executed (otherwise a written statement of the terms of
such license agreement) and one or more certificates of insurance evidencing that such licensee(s) have procured the insurance coverages required hereunder or that Lessee’s insurance covers such licensee(s); and (iii) no signage for the
licensee(s) shall be permitted. Any Desk Space License shall be subject and subordinate to the Lease in all respects. 
 Paragraph 55: Signs.
Lessee shall have the right to install and display one (1) eyebrow sign on the side of the Building facing Howard Street (the “Exterior Sign”), located at a height above grade that is mutually agreeable to Lessor and Lessee,
subject to Lessee’s compliance with Applicable Requirements and the provisions of this Lease, including but not limited to the provisions addressing Alterations and Utility Installations, and subject to Lessor’s prior written consent,
which consent shall not be unreasonably withheld (collectively, “Sign Right”). With any request for such Lessor’s consent, Lessee shall first submit a detailed plan and specifications for the sign (“Sign
Request”). Once “Lessee’s Signs” (defined herein as the Exterior Sign and any other sign installed by Lessee in compliance with the terms of this Lease, which sign(s) and the Exterior Sign are collectively referred to
in this Lease as “Lessee’s Signs”) are installed, Lessee shall maintain Lessee’s Signs in good condition and repair and in accordance with all Applicable Requirements and the terms and conditions of this Lease. Lessee
shall be responsible for and promptly pay all costs associated with Lessee’s Signs, including but not limited to permit fees, design fees and costs, fabrication, installation, maintenance as needed, removal, and restoration of the sign areas to
their original condition. Lessee shall not be required to pay for any additional monthly fee or assessment for the Sign Right that is not expressly provided for in this Paragraph 55. 

Paragraph 56: Damage or Destruction. Notwithstanding any provision set forth in Paragraph 9 to the contrary, Lessor shall provide Lessee with
written notice of the anticipated period of restoration with respect to any Premises Partial Damage that Lessor is obligated to or elects to repair or restore within sixty (60) days following the date of such casualty. In the event that the
estimated restoration period exceeds one hundred eighty (180) days following the date of casualty, or Lessor fails to substantially complete such repair and restoration such that Lessee has reasonable use and access to the Premises within one
hundred eighty (180) days after the occurrence of the casualty (subject to extension for events of force majeure not in excess of sixty (60) days in the aggregate or any delay caused by Lessee), then, for a period of ten (10) business
days after either such event, Lessee shall have the right to terminate this Lease by providing written notice of termination to Lessor (the effective date of such termination to be not more than thirty (30) days after the date of Lessee’s
termination notice to Lessor). In addition, if one third or more of the Premises is damaged or destroyed during the final twelve (12) months of the Term, Lessee shall have the right to terminate the Lease upon written notice to Lessor delivered
within ten (10) business days following receipt of Lessor’s restoration notification described above. 
 Paragraph 57. Lessor hereby consents to
Lessee entering into a license agreement with AltSchool, PBC that allows AltSchool access to ten (10) desks/cubicles located within the Premises until July 31, 2019. 

In the event of any conflict between the provisions of this Addendum and the printed provisions of the Lease, this Addendum shall control. 

AIR CRE. 500 North Brand Blvd, Suite 900, Glendale, CA 91203, Tel
213-687-8777, Email contracts@aircre.com 
 NOTICE: No
part of these works maybe reproduced in any form without permission in writing. 

  

					
	                    	  	                    	  	
	
                   
 
	  	                    	  	
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 STANDARD INDUSTRIAL/COMMERCIAL MULTITENANT LEASE—GROSS 

1. Basic Provisions (“Basic Provisions”). 

1.1 Parties. This Lease (“Lease”), dated for reference purposes only June 7, 2019 ,is made by and between 585
Howard Street Partners, a California general partnership (“Lessor”)and Nuvation Bio Inc., a Delaware corporation (“Lessee”), (collectively the “Parties”, or individually a “Party”).

 (a) Premises: That certain real property, including all improvements therein or to be provided by Lessor under the terms of this
Lease, commonly known as (street address, unit/suite, city, state): The entire third floor (approx. 8,200 sq. ft.) of 585 Howard Street, San Francisco, CA 94105 (“Premises”). The Premises are located in the County of San Francisco,
and are generally described as (describe briefly the nature of the Premises and the “Project”): The entire third floor of 585 Howard Street. In addition to Lessee’s rights to use and occupy the Premises as hereinafter
specified, Lessee shall have non-exclusive rights to any utility raceways of the building containing the Premises (“Building”) and to the Common Areas (as defined in Paragraph 2.7 below), but shall not have any rights to the roof,
or exterior walls of the Building or to any other buildings in the Project. The Premises, the Building, the Common Areas, the land upon which they are located, along with all other buildings and improvements thereon, are herein collectively referred
to as the “Project.” (See also Paragraph 2) 
 (b) Parking:
    N/A     unreserved vehicle parking spaces. (See also Paragraph 2.6) 

1.2 Term: Three (3) years and One (1) months (“Original Term”) commencing July 1, 2019
(“Commencement Date”) and ending August 31, 2022 (“Expiration Date”). (See also Paragraph 3) 
 1.3
Early Possession: If the Premises are available Lessee may have non-exclusive possession of the Premises commencing     N/A     (“Early Possession Date”). (See also
Paragraphs 3.2 and 3.3) 
 1.4 Base Rent: $56,717.00 per month (“Base Rent”), payable on the first (1st) day of each
month commencing the Commencement Date.(See also Paragraph 4 and Addendum Paragraph 50) 
  

	 	☒	 If this box is checked, there are provisions in this Lease for the Base Rent to be adjusted. See Paragraph
____________. 

 1.5 Lessee’s Share of Common Area Operating Expenses:
    N/A     percent (    N/A    %) (“Lessee’s Share”). (See Paragraph 4.2) 

1.6 Base Rent and Other Monies Paid Upon Execution: 
  

	 	(a)	 Base Rent: $56,717.00 for the period 8/1/19—8/31/19. 

 

	 	(b)	 Common Area Operating Expenses: ____________ for the period ____________. 

 

	 	(c)	 Security Deposit: $421,197.49 (“Security Deposit”). (See also Paragraph 5and Addendum
Paragraph 51) 

  

	 	(d)	 Other: ____________ for ____________. 

  

			
	                    	  	                    
	
                   
 
	  	                    
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	 	(e)	 Total Due Upon Execution of this Lease: $477,914.49. 

1.7 Agreed Use: General Office Use. (See also Paragraph 6) 

1.8 Insuring Party. Lessor is the “Insuring Party”. (See also Paragraph 8) 

1.9 Real Estate Brokers. (See also Paragraph 15 and 25) 

(a) Representation: Each Party confirms and consents to the following agency relationships in this Lease with the following real estate
brokers (“Broker(s)”) and/or their agents (“Agent(s)”): 
 AltSchool, PBC’s Brokerage Firm Studley
License No. ____________ Is the broker of AltSchool, PBC: 
 Lessor’s Agent __________ License No. __________ Is (check one):
☐ the Lessor’s Agent (salesperson or broker associate); or ☐ both the Lessee’s Agent and the Lessor’s Agent (dual agent). 

Lessee’s Brokerage Firm CBRE, Inc. ____________ License No. ____________ Is the broker of (check one): ☒ the Lessee; or
☐ both the Lessee and Lessor (dual agent). 
 Lessee’s Agent __________ License No. __________ Is (check one):
☐ the Lessee’s Agent (salesperson or broker associate); or ☐ both the Lessee’s Agent and the Lessor’s Agent (dual agent). 

(b) Payment to Brokers. Brokerage fees shall be paid by Lessor and AltSchool, PBC, the previous lessee of the Premises, pursuant to a
separate written agreement. 
 1.10 Guarantor. The obligations of the Lessee under this Lease are to be guaranteed by
    N/A     (“Guarantor”). (See also Paragraph 37) 
 1.11
Attachments. Attached hereto are the following, all of which constitute a part of this Lease: 
  

	 	☒	 an Addendum consisting of Paragraphs 50 through 57; 

 

	 	☐	 a site plan depicting the Premises; 

 

	 	☐	 a site plan depicting the Project; 

 

	 	☐	 a current set of the Rules and Regulations for the Project; 

 

	 	☐	 a current set of the Rules and Regulations adopted by the owners’ association; a Work Letter;

  

	 	☐	 other (specify): ______________________. 

2. Premises. 
 2.1 Letting. Lessor
hereby leases to Lessee, and Lessee hereby leases from Lessor, the Premises, for the term, at the rental, and upon all of the terms, covenants and conditions set forth in this Lease. While the approximate square footage of the Premises may have been
used in the marketing of the Premises for purposes of comparison, the Base Rent stated herein is Notified to square footage and is not subject to adjustment should the actual size be determined to be different. NOTE: Lessee is advised to verify the
actual size prior to executing this Lease. 
 2.2 Condition. Lessor shall deliver that portion of the Premises contained within the
Building (“Unit”) to Lessee “AS IS”, broom clean and free of debris on the Commencement Date (also referred to in this Lease as the “Start Date”), and, so long as the required service contracts
described in Paragraph 7.1(b) below are obtained by Lessee and in effect within thirty days following the Start Date, warrants that the existing electrical, plumbing, fire sprinkler, lighting, heating, ventilating and air conditioning systems
(“HVAC”), 

  

			
	                    	  	                    
	
                   
 
	  	                    
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loading doors, sump pumps, if any, and all other such elements in the Unit, other than those constructed by Lessee, shall be in good operating condition on said date, that the structural elements
of the roof, bearing walls and foundation of the Unit shall be free of material defects, and that the Unit does not contain hazardous levels of any mold or fungi defined as toxic under applicable state or federal law. If a non-compliance with such
warranty exists as of the Start Date, or if one of such systems or elements should malfunction or fail within the appropriate warranty period, Lessor shall, as Lessor’s sole obligation with respect to such matter, except as otherwise provided
in this Lease, promptly after receipt of written notice from Lessee setting forth with specificity the nature and extent of such non-compliance, malfunction or failure, rectify same at Lessor’s expense. The warranty periods shall be as follows:
(i) 6 months as to the HVAC systems, and (ii) 30 days as to the remaining systems and other elements of the Unit. If Lessee does not give Lessor the required notice within the appropriate warranty period, correction of any such non-compliance,
malfunction or failure shall be the obligation of Lessee at Lessee’s sole cost and expense (except for the repairs to the fire sprinkler systems, roof, foundations, and/or bearing walls - see Paragraph 7). Lessor also warrants, that unless
otherwise specified in writing, Lessor is unaware of (i) any recorded Notices of Default affecting the Premise; (ii) any delinquent amounts due under any loan secured by the Premises; and (iii) any bankruptcy proceeding affecting the
Premises. See Addendum Paragraph 52. 
 2.3 Compliance. Lessor warrants that to the best of its knowledge the improvements on the
Premises and the Common Areas comply with the building codes, applicable laws, covenants or restrictions of record, regulations, and ordinances (“Applicable Requirements”) that were in effect at the time that each improvement, or
portion thereof, was constructed. Said warranty does not apply to the use to which Lessee will put the Premises, modifications which may be required by the Americans with Disabilities Act or any similar laws as a result of Lessee’s use (see
Paragraph 49), or to any Alterations or Utility Installations (as defined in Paragraph 7.3(a)) made or to be made by Lessee. NOTE: Lessee is responsible for determining whether or not the Applicable Requirements, and especially the zoning are
appropriate for Lessee’s intended use, and acknowledges that past uses of the Premises may no longer be allowed. If the Premises do not comply with said warranty, Lessor shall, except as otherwise provided, promptly after receipt of written
notice from Lessee setting forth with specificity the nature and extent of such non-compliance, rectify the same at Lessor’s expense. If Lessee does not give Lessor written notice of a non-compliance with this warranty within 6 months following
the Start Date, correction of that non-compliance shall be the obligation of Lessee at Lessee’s sole cost and expense. If the Applicable Requirements are hereafter changed so as to require during the term of this Lease the construction of an
addition to or an alteration of the Unit, Premises and/or Building, the remediation of any Hazardous Substance, or the reinforcement or other physical modification of the Unit, Premises and/or Building (“Capital Expenditure”),
Lessor and Lessee shall allocate the cost of such work as follows: 
 (a) Subject to Paragraph 2.3(c) below, if such Capital
Expenditures are required as a result of the specific and unique use of the Premises by Lessee other than general office use, or as a result of Alterations or Utility Installations made by Lessee, Lessee shall be fully responsible for the cost
thereof. 
 (b) If such Capital Expenditure is not the result of the specific and unique use of the Premises by Lessee other than
general office use, or as a result of Alterations or Utility Installations made by Lessee (for example, if the Capital Expenditure is the result of governmentally mandated seismic modifications), then Lessor shall pay for such Capital Expenditure
and Lessee shall only be obligated to pay, each month during the remainder of the term of this Lease or any extension thereof, on the date that on which the Base Rent is due, an amount equal to 1/144th of the portion of such costs reasonably
attributable to the Premises. Lessee shall pay Interest on the balance but may prepay its obligation at any time. 
 (c)
Notwithstanding the above, the provisions concerning Capital Expenditures are intended to apply only to non-voluntary, unexpected, and new Applicable Requirements. If the Capital Expenditures are instead triggered by Lessee as a result of an
actual or proposed change in use, change in intensity of use, or modification to the Premises then, and in that event, Lessee shall either: (i) immediately cease such changed use or intensity of use and/or take such other steps as may be
necessary to eliminate the requirement for such Capital Expenditure, or (ii) complete such Capital Expenditure at its own expense. Lessee shall not have any right to terminate this Lease as a result thereof. 

  

			
	                    	  	                    
	
                   
 
	  	                    
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 2.4 Acknowledgements. Lessee acknowledges that: (a) it has been given an
opportunity to inspect and measure the Premises;; (b) it has been advised by Lessor and/or Brokers to satisfy itself with respect to the size and condition of the Premises (including but not limited to the electrical, HVAC and fire sprinkler
systems, security, environmental aspects, and compliance with Applicable Requirements and the Americans with Disabilities Act), and their suitability for Lessee’s intended use; (c) Lessee has made such investigation as it deems necessary
with reference to such matters and assumes all responsibility therefor as the same relate to its occupancy of the Premises; (d) it is not relying on any representation as to the size of the Premises made by Brokers or Lessor; (e) the
square footage of the Premises was not material to Lessee’s decision to lease the Premises and pay the Rent stated herein, and (f) neither Lessor, Lessor’s agents, nor Brokers have made any oral or written representations or
warranties with respect to said matters other than as set forth in this Lease. In addition, Lessor acknowledges that: (i) Brokers have made no representations, promises or warranties concerning Lessee’s ability to honor the Lease or
suitability to occupy the Premises, and (ii) it is Lessor’s sole responsibility to investigate the financial capability and/or suitability of all proposed tenants. 

2.5 Lessee as Prior Owner/Occupant. The warranties made by Lessor in Paragraph 2 shall be of no force or effect if immediately prior to
the Start Date Lessee was the owner or occupant of the Premises. In such event, Lessee shall be responsible for any necessary corrective work. 

2.6 [Intentionally Deleted.] 

2.7 Common Areas—Definition. The term “Common Areas” is defined as all areas and facilities outside the Premises
and within the exterior boundary line of the Project and interior utility raceways and installations within the Unit that are provided and designated by the Lessor from time to time for the general non-exclusive use of Lessor, Lessee and other
tenants of the Project and their respective employees, suppliers, shippers, customers, contractors and invitees, including lobbies, elevators, loading and unloading areas, trash areas, walkways, driveways and landscaped areas. 

2.8 Common Areas- Lessee’s Rights. Lessor grants to Lessee, for the benefit of Lessee and its employees, suppliers, shippers,
contractors, customers and invitees, during the term of this Lease, the non-exclusive right to use, in common with others entitled to such use, the Common Areas as they exist from time to time, subject to any rights, powers, and privileges reserved
by Lessor under the terms hereof or under the terms of any rules and regulations or restrictions governing the use of the Project. Under no circumstances shall the right herein granted to use the Common Areas be deemed to include the right to store
any property, temporarily or permanently, in the Common Areas. Any such storage shall be permitted only by the prior written consent of Lessor or Lessor’s designated agent, which consent maybe revoked at any time. In the event that any
unauthorized storage shall occur, then Lessor shall have the right, upon reasonable prior notice, in addition to such other rights and remedies that it may have, to remove the property and charge the cost to Lessee, which cost shall be immediately
payable upon demand by Lessor. 
 2.9 Common Areas- Rules and Regulations. Lessor or such other person(s) as Lessor may appoint shall
have the exclusive control and management of the Common Areas and shall have the right, from time to time, to establish, modify, amend and enforce reasonable rules and regulations (“Rules and Regulations”) for the management,
safety, care, and cleanliness of the grounds, the parking and unloading of vehicles and the preservation of good order, as well as for the convenience of other occupants or tenants of the Building and the Project and their invitees. Lessee agrees to
abide by and conform to all such Rules and Regulations, and shall use its best efforts to cause its employees, suppliers, shippers, customers, contractors and invitees to so abide and conform. Lessor shall not be responsible to Lessee for the
non-compliance with said Rules and Regulations by other tenants of the Project. 
 2.10 Common Areas—Changes. Lessor shall have
the right, in Lessor’s sole discretion, from time to time: 
 (a) To make changes to the Common Areas, including, without
limitation, changes in the location, size, shape and number of driveways, entrances, parking spaces, parking areas, loading and unloading areas, ingress, egress, direction of traffic, landscaped areas, walkways and utility raceways; 

(b) To close temporarily any of the Common Areas for maintenance purposes so long as reasonable access to the Premises remains
available; 

  

			
	                    	  	                    
	
                   
 
	  	                    
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 (c) To designate other land outside the boundaries of the Project to be a part of
the Common Areas; 
 (d) To add additional buildings and improvements to the Common Areas; 

(e) To use the Common Areas while engaged in making additional improvements, repairs or alterations to the Project, or any portion
thereof; and 
 (f) To do and perform such other acts and make such other changes in, to or with respect to the Common Areas and
Project as Lessor may, in the exercise of sound business judgment, deem to be appropriate. 
 3. Term. 

3.1 Term. The Commencement Date, Expiration Date and Original Term of this Lease are as specified in Paragraph 1.3. 

3.2 Early Possession. Any provision herein granting Lessee Early Possession of the Premises is subject to and conditioned upon the
Premises being available for such possession prior to the Commencement Date. Any grant of Early Possession only conveys a non -exclusive right to occupy the Premises. If Lessee totally or partially occupies the Premises prior to the
Commencement Date, the obligation to pay Base Rent shall be abated for the period of such Early Possession. All other terms of this Lease (including but not limited to the obligations to pay Lessee’s Share of Common Area Operating Expenses,
Real Property Taxes and insurance premiums and to maintain the Premises) shall be in effect during such period. Any such Early Possession shall not affect the Expiration Date. 

3.3 Delay In Possession. Lessor agrees to use its best commercially reasonable efforts to deliver possession of the Premises to Lessee
by the Commencement Date. If, despite said efforts, Lessor is unable to deliver possession by such date, Lessor shall not be subject to any liability therefor, nor shall such failure affect the validity of this Lease or change the Expiration Date.
Lessee shall not, however, be obligated to pay Rent or perform its other obligations until Lessor delivers possession of the Premises and any period of rent abatement that Lessee would otherwise have enjoyed shall run from the date of delivery of
possession and continue for a period equal to what Lessee would otherwise have enjoyed under the terms hereof, but minus any days of delay caused by the acts or omissions of Lessee. If possession is not delivered within 60 days after the
Commencement Date, as the same may be extended under the terms of any Work Letter executed by Parties, Lessee may, at its option, by notice in writing within 10 days after the end of such 60 day period, cancel this Lease, in which event the Parties
shall be discharged from all obligations hereunder. If such written notice is not received by Lessor within said 10 day period, Lessee’s right to cancel shall terminate. If possession of the Premises is not delivered within 120 days after the
Commencement Date, this Lease shall terminate unless other agreements are reached between Lessor and Lessee, in writing. 
 3.4 Lessee
Compliance. Lessor shall not be required to tender possession of the Premises to Lessee until Lessee complies with its obligation to provide evidence of insurance (Paragraph 8.5). Pending delivery of such evidence, Lessee shall be required to
perform all of its obligations under this Lease from and after the Start Date, including the payment of Rent, notwithstanding Lessor’s election to withhold possession pending receipt of such evidence of insurance. Further, if Lessee is required
to perform any other conditions prior to or concurrent with the Start Date, the Start Date shall occur but Lessor may elect to withhold possession until such conditions are satisfied. 

4. Rent. 
 4.1 Rent Defined. All
monetary obligations of Lessee to Lessor under the terms of this Lease (except for the Security Deposit) are deemed to be rent (“Rent”). 

  

			
	                    	  	                    
	
                   
 
	  	                    
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 4.2 Common Area Operaing Expenses. Lessee shall pay to Lessor during the term hereof,
in addition to the Base Rent, the sum of $855.00 per month, payable on or before the Commencement Date and on or before the first day of each month thereafter, in lieu of paying Lessee’s Share of Common Area Operating Expenses, 

4.3 Payment. Lessee shall cause payment of Rent to be received by Lessor in lawful money of the United States, without offset or
deduction (except as specifically permitted in this Lease), on or before the day on which it is due. The first monthly installment of Base Rent shall be due upon execution of this Lease. Each subsequent installment shall be due on the first day of
each month following the Commencement Date. All monetary amounts shall be rounded to the nearest whole dollar. In the event that any statement or invoice prepared by Lessor is inaccurate such inaccuracy shall not constitute a waiver and Lessee shall
be obligated to pay the amount set forth in this Lease. Rent for any period during the term hereof which is for less than one full calendar month shall be prorated based upon the actual number of days of said month. Payment of Rent shall be made to
Lessor at its address stated herein or to such other persons or place as Lessor may from time to time designate in writing. Acceptance of a payment which is less than the amount then due shall not be a waiver of Lessor’s rights to the balance
of such Rent, regardless of Lessor’s endorsement of any check so stating. In the event that any check, draft, or other instrument of payment given by Lessee to Lessor is dishonored for any reason, Lessee agrees to pay to Lessor the sum of $25
in addition to any Late Charge and Lessor, at its option, may require all future Rent be paid by cashier’s check. Payments will be applied first to accrued late charges and attorney’s fees, second to accrued interest, then to Base Rent and
Common Area Operating Expenses, and any remaining amount to any other outstanding charges or costs. 
 5. Security Deposit. Lessee shall deposit with
Lessor upon execution hereof the Security Deposit as security for Lessee’s faithful performance of its obligations under this Lease. If Lessee fails to pay Rent, or otherwise Defaults under this Lease where such default continues beyond the
applicable cure period, Lessor may use, apply or retain all or any portion of said Security Deposit for the payment of any amount already due Lessor, for Rents which will be due in the future, and/ or to reimburse or compensate Lessor for any
liability, expense, loss or damage which Lessor may suffer or incur by reason thereof. If Lessor uses or applies all or any portion of the Security Deposit, Lessee shall within 10 days after written request therefor deposit monies with Lessor
sufficient to restore said Security Deposit to the full amount required by this Lease. Lessor shall not be required to keep the Security Deposit separate from its general accounts. Within 90 days after the expiration or termination of this Lease,
Lessor shall return that portion of the Security Deposit not used or applied by Lessor. Lessor shall upon written request provide Lessee with an accounting showing how that portion of the Security Deposit that was not returned was applied. No part
of the Security Deposit shall be considered to be held in trust, to bear interest or to be prepayment for any monies to be paid by Lessee under this Lease. THE SECURITY DEPOSIT SHALL NOT BE USED BY LESSEE IN LIEU OF PAYMENT OF THE LAST MONTH’S
RENT, EXCEPT AS OTHERWISE EXPRESSLY PROVIDED IN THIS LEASE. 
 6. Use. 

6.1 Use. Lessee shall use and occupy the Premises only for the Agreed Use, and for no other purpose. Lessor and Lessee acknowledge that
any use of the Premises other than the Agreed Use may, among other things, trigger the need for additional governmental permits, approvals, as well as associated fees, costs and penalties. Lessee shall not use or permit the use of the Premises in a
manner that is unlawful, creates damage, waste or a nuisance, or that disturbs occupants of or causes damage to neighboring premises or properties. Other than guide, signal and seeing eye dogs, Lessee shall not keep or allow in the Premises any
pets, animals, birds, fish, or reptiles. 
 6.2 Hazardous Substances. 

(a) Reportable Uses Require Consent. The term “Hazardous Substance” as used in this Lease shall mean any product,
substance, or waste whose presence, use, manufacture, disposal, transportation, or release, either by itself or in combination with other materials expected to be on the Premises, is either: (i) potentially injurious to the public health,
safety or welfare, the environment or the Premises; (ii) regulated or monitored by any governmental authority for health, safety or welfare, or environmental reasons, Hazardous Substances shall include, but not be limited to, hydrocarbons,
petroleum, gasoline, and/or crude oil or any products, by-products or fractions thereof. Lessee shall not engage in any activity in or on the Premises which constitutes a Reportable Use of Hazardous Substances without the express prior written
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Applicable Requirements. “Reportable Use” shall mean (i) the installation or use of any above or below ground storage tank; (ii) the generation, possession, storage,
use, transportation, or disposal of a Hazardous Substance that requires a permit from, or with respect to which a report, notice, registration or business plan is required to be filed with, any governmental authority, and/or (iii) the presence
at the Premises of a Hazardous Substance with respect to which any Applicable Requirements requires that a notice be given to persons entering or occupying the Premises or neighboring properties. Notwithstanding the foregoing, Lessee may use any
ordinary and customary materials reasonably required to be used in the normal course of the Agreed Use, ordinary office supplies (copier toner, liquid paper, glue, etc.) and common household cleaning materials, so long as such use is in compliance
with all Applicable Requirements, is not a Reportable Use, and does not expose the Premises or neighboring property to any meaningful risk of contamination or damage or expose Lessor to any liability therefor. In addition, Lessor may condition its
consent to any Reportable Use upon receiving such additional assurances as Lessor reasonably deems necessary to protect itself, the public, the Premises and/or the environment against damage, contamination, injury and/or liability, including, but
not limited to, the installation (and removal on or before Lease expiration or termination) of protective modifications (such as concrete encasements) and/or increasing the Security Deposit. 

(b) Duty to Inform Lessor. If Lessee knows, or has reasonable cause to believe, that a Hazardous Substance has come to be located in,
on, under or about the Premises, other than as previously consented to by Lessor, Lessee shall immediately give written notice of such fact to Lessor, and provide Lessor with a copy of any report, notice, claim or other documentation which it has
concerning the presence of such Hazardous Substance. 
 (c) Lessee Remediation. Lessee shall not cause or permit any Hazardous
Substance to be spilled or released in, on, under, or about the Premises (including through the plumbing or sanitary sewer system) and shall promptly, at Lessee’s expense, comply with all Applicable Requirements and take all investigatory
and/or remedial action reasonably recommended, whether or not formally ordered or required, for the cleanup of any contamination of, and for the maintenance, security and/or monitoring of the Premises or neighboring properties, that was caused or
materially contributed to by Lessee, or pertaining to or involving any Hazardous Substance brought onto the Premises during the term of this Lease, by or for Lessee, or any third party. 

(d) Lessee Indemnification. Lessee shall indemnify, defend and hold Lessor, its agents, employees, lenders and ground lessor, if any,
harmless from and against any and all loss of rents and/or damages, liabilities, judgments, claims, expenses, penalties, and attorneys’ and consultants’ fees arising out of or involving any Hazardous Substance brought onto the Premises by
or for Lessee, or any third party (provided, however, that Lessee shall have no liability under this Lease with respect to underground migration of any Hazardous Substance under the Premises from areas outside of the Project not caused or
contributed to by Lessee). Lessee’s obligations shall include, but not be limited to, the effects of any contamination or injury to person, property or the environment created or suffered by Lessee, and the cost of investigation, removal,
remediation, restoration and/or abatement, and shall survive the expiration or termination of this Lease. No termination, cancellation or release agreement entered into by Lessor and Lessee shall release Lessee from its obligations under this Lease
with respect to Hazardous Substances, unless specifically so agreed by Lessor in writing at the time of such agreement. 
 (e) Lessor
Representations and Warranties; Indemnification. Lessor represents and warrants to Lessee that to its knowledge, the Premises are free from asbestos, lead and other Hazardous Substances. Except as otherwise provided in paragraph 8.7, Lessor and
its successors and assigns shall indemnify, defend, reimburse and hold Lessee, its employees and lenders, harmless from and against any and all environmental damages, including the cost of remediation, which are suffered as a direct result of
Hazardous Substances on the Premises prior to Lessee taking possession or which are caused by the gross negligence or willful misconduct of Lessor, its agents or employees. Lessor’s obligations, as and when required by the Applicable
Requirements, shall include, but not be limited to, the cost of investigation, removal, remediation, restoration and/or abatement, and shall survive the expiration or termination of this Lease. 

(f) Investigations and Remediations. Lessor shall retain the responsibility and pay for any investigations or remediation measures
required by governmental entities having jurisdiction with respect to the existence of Hazardous Substances on the Premises prior to the Lessee taking possession, unless such remediation measure is required as a result of Lessee’s use
(including “Alterations”, as defined in paragraph 7.3(a) below) of the Premises, in which event Lessee shall be responsible for such payment. Lessee shall cooperate fully in any such activities at the request of Lessor, including
allowing Lessor and Lessor’s agents to have reasonable access to the Premises at reasonable times in order to carry out Lessor’s investigative and remedial responsibilities. 

  

			
	                    	  	                    
	
                   
 
	  	                    
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 6.3 Lessee’s Compliance with Applicable Requirements. Except as otherwise
provided in this Lease, Lessee shall, at Lessee’s sole expense, fully, diligently and in a timely manner, materially comply with all Applicable Requirements, the requirements of any applicable fire insurance underwriter or rating bureau, and
the reasonable recommendations of Lessor’s engineers and/or consultants which relate in any manner to the Premises, without regard to whether said Applicable Requirements are now in effect or become effective after the Start Date. Lessee shall,
within 10 days after receipt of Lessor’s written request, provide Lessor with copies of all permits and other documents, and other information evidencing Lessee’s compliance with any Applicable Requirements specified by Lessor, and shall
immediately upon receipt, notify Lessor in writing (with copies of any documents involved) of any threatened or actual claim, notice, citation, warning, complaint or report pertaining to or involving the failure of Lessee or the Premises to comply
with any Applicable Requirements. Likewise, Lessee shall immediately give written notice to Lessor of: (i) any water damage to the Premises and any suspected seepage, pooling, dampness or other condition conducive to the production of mold; or
(ii) any mustiness or other odors that might indicate the presence of mold in the Premises. 
 6.4 Inspection; Compliance. Lessor
and Lessor’s “Lender” (as defined in Paragraph 30) and consultants authorized by Lessor shall have the right to enter into Premises at any time in the case of an emergency, and otherwise at reasonable times after reasonable
notice, for the purpose of inspecting and/or testing the condition of the Premises and/or for verifying compliance by Lessee with this Lease. The cost of any such inspections shall be paid by Lessor, unless a violation of Applicable Requirements, or
a Hazardous Substance Condition (see Paragraph 9.1) is found to exist or be imminent, or the inspection is requested or ordered by a governmental authority. In such case, Lessee shall upon request reimburse Lessor for the cost of such inspection, so
long as such inspection is reasonably related to the violation or contamination. In addition, Lessee shall provide copies of all relevant material safety data sheets (MSDS) to Lessor within 10 days of the receipt of written request therefor. Lessee
acknowledges that any failure on its part to allow such inspections or testing will expose Lessor to risks and potentially cause Lessor to incur costs not contemplated by this Lease, the extent of which will be extremely difficult to ascertain.
Accordingly, should the Lessee fail to allow such inspections and/or testing in a timely fashion the Base Rent shall be automatically increased, without any requirement for notice to Lessee, by an amount equal to 10% of the then existing Base Rent
or $100, whichever is greater for the remainder to the Lease. The Parties agree that such increase in Base Rent represents fair and reasonable compensation for the additional risk/costs that Lessor will incur by reason of Lessee’s failure to
allow such inspection and/or testing. Such increase in Base Rent shall in no event constitute a waiver of Lessee’s Default or Breach with respect to such failure nor prevent the exercise of any of the other rights and remedies granted
hereunder. 
 7. Maintenance; Repairs; Utility Installations; Trade Fixtures and Alterations. 

7.1 Lessee’s Obligations. 

(a) In General. Subject to the provisions of Paragraph 2.2 (Condition), 2.3 (Compliance), 6.3 (Lessee’s Compliance with Applicable
Requirements), 7.2 (Lessor’s Obligations), 9 (Damage or Destruction), and 14 (Condemnation), Lessee shall, at Lessee’s sole expense, keep the Premises, Utility Installations (intended for Lessee’s exclusive use, no matter where
located), and Alterations in good order, condition and repair (whether or not the portion of the Premises requiring repairs, or the means of repairing the same, are reasonably or readily accessible to Lessee, and whether or not the need for such
repairs occurs as a result of Lessee’s use, any prior use, the elements or the age of such portion of the Premises), including, but not limited to, all equipment or facilities, such as plumbing, HVAC equipment, electrical, lighting facilities,
boilers, pressure vessels, fixtures, interior walls, interior surfaces of exterior walls, ceilings, floors, windows, doors, plate glass, and skylights but excluding any items which are the responsibility of Lessor pursuant to Paragraph 7.2. Lessee,
in keeping the Premises in good order, condition and repair, shall exercise and perform good maintenance practices, specifically including the procurement and maintenance of the service contracts required by Paragraph 7.1(b) below. Lessee’s
obligations shall include restorations, replacements or renewals when necessary to keep the Premises and all improvements thereon or a part thereof in good order, condition and state of repair. 

  

			
	                    	  	                    
	
                   
 
	  	                    
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 (b) Service Contracts. Lessee shall, at Lessee’s sole expense, procure and
maintain contracts, with copies to Lessor, in customary form and substance for, and with contractors specializing and experienced in the maintenance of the following equipment and improvements, if any, if and when installed on the Premises: HVAC
equipment exclusively servicing the Premises (even if not physically located within the Premises). However, Lessor reserves the right, upon notice to Lessee, to procure and maintain any or all of such service contracts, and Lessee shall reimburse
Lessor, upon demand, for the cost thereof. 
 (c) Failure to Perform. If Lessee fails to perform Lessee’s obligations under this
Paragraph 7.1, Lessor may enter upon the Premises after 10 days’ prior written notice to Lessee (except in the case of an emergency, in which case no notice shall be required), perform such obligations on Lessee’s behalf, and put the
Premises in good order, condition and repair, and Lessee shall promptly pay to Lessor a sum equal to 115% of the cost thereof. 
 (d)
Replacement. Subject to Lessee’s indemnification of Lessor as set forth in Paragraph 8.7 below, and without relieving Lessee of liability resulting from Lessee’s failure to exercise and perform good maintenance practices, if an item
described in Paragraph 7.1(b) cannot be repaired other than at a cost which is in excess of 50% of the cost of replacing such item, then such item shall be replaced by Lessor, and the cost thereof shall be prorated between the Parties and Lessee
shall only be obligated to pay, each month during the remainder of the term of this Lease, on the date on which Base Rent is due, an amount equal to the product of multiplying the cost of such replacement by a fraction, the numerator of which is
one, and the denominator of which is 144 (ie.1/144th of the cost per month). Lessee shall pay Interest on the unamortized balance but may prepay its obligation at any time. 

7.2 Lessor’s Obligations. Subject to the provisions of Paragraphs 2.2 (Condition), 2.3 (Compliance), 4.2 (Common Area Operating
Expenses), 6 (Use), 7.1 (Lessee’s Obligations), 9 (Damage or Destruction) and 14 (Condemnation), Lessor, subject to reimbursement pursuant to Paragraph 4.2, shall keep in good order, condition and repair the foundations, exterior walls,
structural condition of interior bearing walls, exterior roof, fire sprinkler system, Common Area fire alarm and/or smoke detection systems, fire hydrants, parking lots, walkways, parkways, driveways, landscaping, fences, signs and utility systems
serving the Common Areas and all parts thereof, as well as providing the services for which there is a Common Area Operating Expense pursuant to Paragraph 4.2. Lessor shall not be obligated to paint the exterior or interior surfaces of exterior
walls nor shall Lessor be obligated to maintain, repair or replace windows, doors or plate glass of the Premises. 
 7.3 Utility
Installations; Trade Fixtures; Alterations. 
 (a) Definitions. The term “Utility Installations” refers to all
floor and window coverings, air and/or vacuum lines, power panels, electrical distribution, security and fire protection systems, communication cabling, lighting fixtures, HVAC equipment, plumbing, and fencing in or on the Premises. The term
“Trade Fixtures” shall mean Lessee’s machinery and equipment that can be removed without doing material damage to the Premises. The term “Alterations” shall mean any modification of the improvements, other than
Utility Installations or Trade Fixtures, whether by addition or deletion. “Lessee Owned Alterations and/or Utility Installations” are defined as Alterations and/or Utility Installations made by Lessee that are not yet owned by
Lessor pursuant to Paragraph 7.4(a). 
 (b) Consent. Lessee shall not make any Alterations or Utility Installations to the Premises
without Lessor’s prior written consent. Lessee may, however, make non-structural Alterations or Utility Installations to the interior of the Premises (excluding the roof) without such consent but upon
prior written notice to Lessor, as long as they are not visible from the outside, do not involve puncturing, relocating or removing the roof or any existing walls, will not affect the electrical, plumbing, HVAC, and/or life safety systems, do not
trigger the requirement for additional modifications and/or improvements to the Premises resulting from Applicable Requirements, such as compliance with Title 24, and the cost thereof does not exceed a sum equal to $25,000 per project.
Notwithstanding the foregoing, Lessee shall not make or permit any roof penetrations and/or install anything on the roof without the prior written approval of Lessor. Lessor may, as a precondition to granting such approval, require Lessee to utilize
a contractor reasonably approved by Lessor. Any Alterations or Utility Installations that Lessee shall desire to make and which require the consent of the Lessor shall be presented to Lessor in written form with detailed plans. Consent shall be
deemed conditioned upon Lessee’s: (i) acquiring all applicable governmental permits, (ii) furnishing Lessor with copies of both the permits and the plans and specifications prior to commencement of the work, and (iii) compliance
with all conditions of said permits and other Applicable Requirements in a prompt and expeditious manner. Any Alterations 

  

			
	                    	  	                    
	
                   
 
	  	                    
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or Utility Installations shall be performed in a workmanlike manner with good and sufficient materials. Lessee shall promptly upon completion furnish Lessor with
as-built plans and specifications. For work which costs an amount in excess of one month’s Base Rent, Lessor may condition its consent upon Lessee providing a lien and completion bond in an amount equal
to 150% of the estimated cost of such Alteration or Utility Installation and/or upon Lessee’s posting an additional Security Deposit with Lessor. 

(c) Liens; Bonds. Lessee shall pay, when due, all claims for labor or materials furnished or alleged to have been furnished to or for
Lessee at or for use on the Premises, which claims are or may be secured by any mechanic’s or materialmen’s lien against the Premises or any interest therein. Lessee shall give Lessor not less than 10 days notice prior to the commencement
of any work in, on or about the Premises, and Lessor shall have the right to post notices of non-responsibility. If Lessee shall contest the validity of any such lien, claim or demand, then Lessee shall, at
its sole expense defend and protect itself, Lessor and the Premises against the same and shall pay and satisfy any such adverse judgment that may be rendered thereon before the enforcement thereof. If Lessor shall require, Lessee shall furnish a
surety bond in an amount equal to 150% of the amount of such contested lien, claim or demand, indemnifying Lessor against liability for the same. If Lessor elects to participate in any such action, Lessee shall pay Lessor’s attorneys’ fees
and costs. 
 7.4 Ownership; Removal; Surrender; and Restoration. 

(a) Ownership. Subject to Lessor’s right to require removal or elect ownership as hereinafter provided, all Alterations and
Utility Installations made by Lessee shall be the property of Lessee, but considered a part of the Premises. Lessor may, at any time, elect in writing to be the owner of all or any specified part of the Lessee Owned Alterations and Utility
Installations. Unless otherwise instructed per paragraph 7.4(b) hereof, all Lessee Owned Alterations and Utility Installations shall, at the expiration or termination of this Lease, become the property of Lessor and be surrendered by Lessee with the
Premises. 
 (b) Removal. By delivery to Lessee of written notice from Lessor concurrent with Lessor’s consent to any Lessee
Owned Alterations or Utility Installations, Lessor may reserve the right to require that the Lessee Owned Alterations or Utility Installations consented to by Lessor be removed by the expiration or sooner termination of this Lease. Lessor may
require the removal at any time of all or any part of any Lessee Owned Alterations or Utility Installations made without the required consent, and may require the removal upon expiration or sooner termination of this Lease of any Alterations or
Utility Installations made by Lessee pursuant to the second sentence of Paragraph 7.3(b). 
 (c) Surrender; Restoration. Lessee shall
surrender the Premises by the Expiration Date or any earlier termination date, with all of the improvements, parts and surfaces thereof broom clean and free of debris, and in good operating order, condition and state of repair, ordinary wear and
tear excepted. “Ordinary wear and tear” shall not include any damage or deterioration that would have been prevented by good maintenance practice. Notwithstanding the foregoing and the provisions of Paragraph 7.1(a), if the Lessee occupies
the Premises for 12 months or less, then Lessee shall surrender the Premises in the same condition as delivered to Lessee on the Start Date with NO allowance for ordinary wear and tear. Lessee shall repair any damage occasioned by the installation,
maintenance or removal of Trade Fixtures, Lessee owned Alterations and/or Utility Installations, furnishings, and equipment as well as the removal of any storage tank installed by or for Lessee. Lessee shall also remove from the Premises any and all
Hazardous Substances brought onto the Premises by or for Lessee, or any third party (except Hazardous Substances which were deposited via underground migration from areas outside of the Premises) to the level specified in Applicable Requirements.
Trade Fixtures shall remain the property of Lessee and shall be removed by Lessee. Any personal property of Lessee not removed on or before the Expiration Date or any earlier termination date shall be deemed to have been abandoned by Lessee and may
be disposed of or retained by Lessor as Lessor may desire. The failure by Lessee to timely vacate the Premises pursuant to this Paragraph 7.4(c) without the express written consent of Lessor shall constitute a holdover under the provisions of
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 8. Insurance; Indemnity. 

8.1 Payment of Premium Increases. 

(a) As used herein, the term “Insurance Cost Increase” is defined as any increase in the actual cost of the insurance
applicable to the Building and/or the Project and required to be carried by Lessor, pursuant to Paragraphs 8.2(b), 8.3(a) and 8.3(b), over and above the Base Premium, as hereinafter defined, calculated on an annual basis. Insurance Cost Increase
shall include, but not be limited to, requirements of the holder of a mortgage or deed of trust covering the Premises, Building and/or Project, increased valuation of the Premises, Building and/or Project, and/or a general premium rate increase. The
term Insurance Cost Increase shall not, however, include any premium increases resulting from the nature of the occupancy of any other tenant of the Building. The “Base Premium” shall be the annual premium applicable to the 12 month
period immediately preceding the Start Date. If, however, the Project was not insured for the entirety of such 12 month period, then the Base Premium shall be the lowest annual premium reasonably obtainable for the Required Insurance as of the Start
Date, assuming the most nominal use possible of the Building. In no event, however, shall Lessee be responsible for any portion of the premium cost attributable to liability insurance coverage in excess of $2,000,000 procured under Paragraph 8.2(b).

 (b) Lessee shall pay any Insurance Cost Increase to Lessor pursuant to Paragraph 4.2. Premiums for policy periods commencing prior
to, or extending beyond, the term of this Lease shall be prorated to coincide with the corresponding Start Date or Expiration Date. 
 8.2
Liability Insurance. 
 (a) Carried by Lessee. Lessee shall obtain and keep in force a Commercial General Liability policy of
insurance protecting Lessee and Lessor as an additional insured against claims for bodily injury, personal injury and property damage based upon or arising out of the ownership, use, occupancy or maintenance of the Premises and all areas appurtenant
thereto. Such insurance shall be on an occurrence basis providing single limit coverage in an amount not less than $1,000,000 per occurrence with an annual aggregate of not less than $2,000,000. Lessee shall add Lessor as an additional insured by
means of an endorsement at least as broad as the Insurance Service Organization’s “Additional Insured-Managers or Lessors of Premises” Endorsement. The policy shall not contain any intra-insured exclusions as between insured persons
or organizations, but shall include coverage for liability assumed under this Lease as an “insured contract” for the performance of Lessee’s indemnity obligations under this Lease. The limits of said insurance shall not, however,
limit the liability of Lessee nor relieve Lessee of any obligation hereunder. Lessee shall provide an endorsement on its liability policy(ies) which provides that its insurance shall be primary to and not contributory with any similar insurance
carried by Lessor, whose insurance shall be considered excess insurance only. 
 (b) Carried by Lessor. Lessor shall maintain
liability insurance as described in Paragraph 8.2(a), in addition to, and not in lieu of, the insurance required to be maintained by Lessee. Lessee shall not be named as an additional insured therein. 

8.3 Property Insurance-Building, Improvements and Rental Value. 

(a) Building and Improvements. Lessor shall obtain and keep in force a policy or policies of insurance in the name of Lessor, with loss
payable to Lessor, any ground-lessor, and to any Lender insuring loss or damage to the Premises. The amount of such insurance shall be equal to the full insurable replacement cost of the Premises, as the same shall exist from time to time, or the
amount required by any Lender, but in no event more than the commercially reasonable and available insurable value thereof. Lessee Owned Alterations and Utility Installations, Trade Fixtures, and Lessee’s personal property shall be insured by
Lessee not by Lessor. If the coverage is available and commercially appropriate, such policy or policies shall insure against all risks of direct physical loss or damage (except the perils of flood and/or earthquake unless required by a Lender),
including coverage for debris removal and the enforcement of any Applicable Requirements requiring the upgrading, demolition, reconstruction or replacement of any portion of the Premises as the result of a covered loss. Said policy or policies shall
also contain an agreed valuation provision in lieu of any coinsurance clause, waiver of subrogation, and inflation guard protection causing an increase in the annual property insurance coverage amount by a factor of not less than the adjusted U.S.
Department of Labor Consumer Price Index for All Urban Consumers for the city nearest to where the Premises are located. If such insurance coverage has a deductible clause, the deductible amount shall not exceed $5,000 per occurrence. 

  

			
	                    	  	                    
	
                   
 
	  	                    
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 (b) Rental Value. Lessor shall also obtain and keep in force a policy or policies in
the name of Lessor with loss payable to Lessor and any Lender, insuring the loss of the full Rent for one year with an extended period of indemnity for an additional 180 days (“Rental Value insurance”). Said insurance shall contain
an agreed valuation provision in lieu of any coinsurance clause, and the amount of coverage shall be adjusted annually to reflect the projected Rent otherwise payable by Lessee, for the next 12 month period. 

(c) Adjacent Premises. Lessee shall pay for any increase in the premiums for the property insurance of the Building and for the Common
Areas or other buildings in the Project if said increase is caused by Lessee’s acts, omissions, use or occupancy of the Premises. 

(d) Lessee’s Improvements. Since Lessor is the Insuring Party, Lessor shall not be required to insure Lessee Owned Alterations and
Utility Installations unless the item in question has become the property of Lessor under the terms of this Lease. 
 8.4 Lessee’s
Property; Worker’s Compensation Insurance. 
 (a) Property Damage. Lessee shall obtain and maintain insurance coverage on
all of Lessee’s personal property, Trade Fixtures, and Lessee Owned Alterations and Utility Installations. Such insurance shall be full replacement cost coverage with a deductible of not to exceed $1,000 per occurrence. The proceeds from any
such insurance shall be used by Lessee for the replacement of personal property, Trade Fixtures and Lessee Owned Alterations and Utility Installations. 

(b) [intentionally deleted] 

(c) Worker’s Compensation Insurance. Lessee shall obtain and maintain Worker’s Compensation Insurance in such amount as may
be required by Applicable Requirements. Such policy shall include a Waiver of Subrogation’ endorsement. Lessee shall provide Lessor with a copy of such endorsement along with the certificate of insurance or copy of the policy required by
paragraph 8.5. 
 (d) No Representation of Adequate Coverage. Lessor makes no representation that the limits or forms of coverage of
insurance specified herein are adequate to cover Lessee’s property, business operations or obligations under this Lease. 
 8.5
Insurance Policies. Insurance required herein shall be by companies maintaining during the policy term a “General Policyholders Rating” of at least A-, VII, as set forth in the most current issue of “Best’s
Insurance Guide”, or such other rating as may be required by a Lender. Lessee shall not do or permit to be done anything which invalidates the required insurance policies. Lessee shall, prior to the Start Date, deliver to Lessor certified
copies of policies of such insurance or certificates with copies of the required endorsements evidencing the existence and amounts of the required insurance. No such policy shall be cancelable or subject to material reduction in coverage except
after 30 days prior written notice to Lessor. Lessee shall, at least 10 days prior to the expiration of such policies, furnish Lessor with evidence of renewals or “insurance binders” evidencing renewal thereof, or Lessor may increase his
liability insurance coverage and charge the cost thereof to Lessee, which amount shall be payable by Lessee to Lessor upon demand. Such policies shall be for a term of at least one year, or the length of the remaining term of this Lease, whichever
is less. If either Party shall fail to procure and maintain the insurance required to be carried by it, the other Party may, but shall not be required to, procure and maintain the same. 

8.6 Waiver of Subrogaton. Notwithstanding any provision to the contrary set forth in this Lease, Without Lessee and Lessor each hereby
release and relieve the other, and waive their entire right to recover damages against the other, for loss of or damage to its property arising out of or incident to the perils required to be insured against herein without regard to the negligence
of either party. 

  

			
	                    	  	                    
	
                   
 
	  	                    
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The effect of such releases and waivers is not limited by the amount of insurance carried or required, or by any deductibles applicable hereto. The Parties agree to have their respective property
damage insurance carriers waive any right to subrogation that such companies may have against Lessor or Lessee, as the case may be, so long as the insurance is not invalidated thereby. 

8.7 Indemnity. Except for Lessor’s gross negligence or willful misconduct or that of its agents, employees or contractors, Lessee
shall indemnify, protect, defend and hold harmless the Premises, Lessor and its agents, Lessor’s master or ground lessor, partners and Lenders, from and against any and all claims, loss of rents and/or damages, liens, judgments, penalties,
attorneys’ and consultants’ fees, expenses and/or liabilities arising out of, involving, or in connection with, a Breach of the Lease by Lessee and/or the use and/or occupancy of the Premises and/or Project by Lessee and/or by
Lessee’s employees, contractors or invitees. If any action or proceeding is brought against Lessor by reason of any of the foregoing matters, Lessee shall upon notice defend the same at Lessee’s expense by counsel reasonably satisfactory
to Lessor and Lessor shall cooperate with Lessee in such defense. Lessor need not have first paid any such claim in order to be defended or indemnified. 

8.8 Exemption of Lessor and its Agents from Liability. Notwithstanding the negligence or breach of this Lease by Lessor or its agents,
neither Lessor nor its agents shall be liable under any circumstances for: (i) injury or damage to the person or goods, wares, merchandise or other property of Lessee, Lessee’s employees, contractors, invitees, customers, or any other
person in or about the Premises, whether such damage or injury is caused by or results from fire, steam, electricity, gas, water or rain, indoor air quality, the presence of mold or from the breakage, leakage, obstruction or other defects of pipes,
fire sprinklers, wires, appliances, plumbing, HVAC or lighting fixtures, or from any other cause, whether the said injury or damage results from conditions arising upon the Premises or upon other portions of the Building, or from other sources or
places; (ii) any damages arising from any act or neglect of any other tenant of Lessor or from the failure of Lessor or its agents to enforce the provisions of any other lease in the Project; or (iii) injury to Lessee’s business or
for any loss of income or profit therefrom. Instead, it is intended that Lessee’s sole recourse in the event of such damages or injury be to file a claim on the insurance policy(ies) that Lessee is required to maintain pursuant to the
provisions of paragraph 8. 
 8.9 Failure to Provide Insurance. Lessee acknowledges that any failure on its part to obtain or maintain
the insurance required herein will expose Lessor to risks and potentially cause Lessor to incur costs not contemplated by this Lease, the extent of which will be extremely difficult to ascertain. Accordingly, for any month or portion thereof that
Lessee does not maintain the required insurance and/or does not provide Lessor with the required binders or certificates evidencing the existence of the required insurance, the Base Rent shall be automatically increased, without any requirement for
notice to Lessee, by an amount equal to 10% of the then existing Base Rent or $100, whichever is greater. The parties agree that such increase in Base Rent represents fair and reasonable compensation for the additional risk/costs that Lessor will
incur by reason of Lessee’s failure to maintain the required insurance. Such increase in Base Rent shall in no event constitute a waiver of Lessee’s Default or Breach with respect to the failure to maintain such insurance, prevent the
exercise of any of the other rights and remedies granted hereunder, nor relieve Lessee of its obligation to maintain the insurance specified in this Lease. 

9. Damage or Destruction. 
 9.1
Definitions. 
 (i) “Premises Partial Damage” shall mean damage or destruction to the improvements on the
Premises, other than Lessee Owned Alterations and Utility Installations, which can reasonably be repaired in 3 months or less from the date of the damage or destruction, and the cost thereof does not exceed a sum equal to 6 month’s Base Rent.
Lessor shall notify Lessee in writing within 30 days from the date of the damage or destruction as to whether or not the damage is Partial or Total. 

(ii) “Premises Total Destruction” shall mean damage or destruction to the improvements on the Premises, other
than Lessee Owned Alterations and Utility Installations and Trade Fixtures, which cannot reasonably be repaired in 3 months or less from the date of the damage or destruction and/or the cost thereof exceeds a sum equal to 6 month’s Base Rent.
Lessor shall notify Lessee in writing within 30 days from the date of the damage or destruction as to whether or not the damage is Partial or Total. 

  

			
	                    	  	                    
	
                   
 
	  	                    
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 (iii) “Insured Loss” shall mean damage or destruction to
improvements on the Premises, other than Lessee Owned Alterations and Utility Installations and Trade Fixtures, which was caused by an event required to be covered by the insurance described in Paragraph 8.3(a), irrespective of any deductible
amounts or coverage limits involved. 
 (iv) “Replacement Cost” shall mean the cost to repair or rebuild the
improvements owned by Lessor at the time of the occurrence to their condition existing immediately prior thereto, including demolition, debris removal and upgrading required by the operation of Applicable Requirements, and without deduction for
depreciation. 
 (v) “Hazardous Substance Condition” shall mean the occurrence or discovery of a condition
involving the presence of, or a contamination by, a Hazardous Substance, in, on, or under the Premises which requires restoration. 

9.2 Partial Damage- Insured Loss. If a Premises Partial Damage that is an Insured Loss occurs, then Lessor shall, at Lessor’s
expense, repair such damage (but not Lessee’s Trade Fixtures or Lessee Owned Alterations and Utility Installations) as soon as reasonably possible and this Lease shall continue in full force and effect; provided, however, that Lessee shall, at
Lessor’s election, make the repair of any damage or destruction the total cost to repair of which is $10,000 or less, and, in such event, Lessor shall make any applicable insurance proceeds available to Lessee on a reasonable basis for that
purpose. Notwithstanding the foregoing, if the required insurance was not in force or the insurance proceeds are not sufficient to effect such repair, the Insuring Party shall promptly contribute the shortage in proceeds as and when required to
complete said repairs. In the event, however, such shortage was due to the fact that, by reason of the unique nature of the improvements, full replacement cost insurance coverage was not commercially reasonable and available, Lessor shall have no
obligation to pay for the shortage in insurance proceeds or to fully restore the unique aspects of the Premises unless Lessee provides Lessor with the funds to cover same, or adequate assurance thereof, within 10 days following receipt of written
notice of such shortage and request therefor. If Lessor receives said funds or adequate assurance thereof within said 10 day period, the party responsible for making the repairs shall complete them as soon as reasonably possible and this Lease shall
remain in full force and effect. If such funds or assurance are not received, Lessor may nevertheless elect by written notice to Lessee within 10 days thereafter to: (i) make such restoration and repair as is commercially reasonable with Lessor
paying any shortage in proceeds, in which case this Lease shall remain in full force and effect, or (ii) have this Lease terminate 30 days thereafter. Lessee shall not be entitled to reimbursement of any funds contributed by Lessee to repair
any such damage or destruction. Premises Partial Damage due to flood or earthquake shall be subject to Paragraph 9.3, notwithstanding that there may be some insurance coverage, but the net proceeds of any such insurance shall be made available for
the repairs if made by either Party. 
 9.3 Partial Damage- Uninsured Loss. If a Premises Partial Damage that is not an Insured Loss
occurs, unless caused by a negligent or willful act of Lessee (in which event Lessee shall make the repairs at Lessee’s expense), Lessor may either: (i) repair such damage as soon as reasonably possible at Lessor’s expense (subject to
reimbursement pursuant to Paragraph 4.2), in which event this Lease shall continue in full force and effect, or (ii) terminate this Lease by giving written notice to Lessee within 30 days after receipt by Lessor of knowledge of the occurrence
of such damage. Such termination shall be effective 60 days following the date of such notice. In the event Lessor elects to terminate this Lease, Lessee shall have the right within 10 days after receipt of the termination notice to give written
notice to Lessor of Lessee’s commitment to pay for the repair of such damage without reimbursement from Lessor. Lessee shall provide Lessor with said funds or satisfactory assurance thereof within 30 days after making such commitment. In such
event this Lease shall continue in full force and effect, and Lessor shall proceed to make such repairs as soon as reasonably possible after the required funds are available. If Lessee does not make the required commitment, this Lease shall
terminate as of the date specified in the termination notice. 
 9.4 Total Destruction. Notwithstanding any other provision hereof, if
a Premises Total Destruction occurs, this Lease shall terminate 60 days following such Destruction. If the damage or destruction was caused by the gross negligence or willful misconduct of Lessee, Lessor shall have the right to recover Lessor’s
damages from Lessee, except as provided in Paragraph 8.6. 
 9.5 Damage Near End of Term. If at any time during the last 6 months of
this Lease there is damage for which the cost to repair exceeds one month’s Base Rent, whether or not an Insured Loss, Lessor may terminate this Lease effective 60 days following the date of occurrence of such damage by giving a written
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such damage. Notwithstanding the foregoing, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by
(a) exercising such option and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is 10 days after Lessee’s
receipt of Lessor’s written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate
assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor’s commercially reasonable expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails
to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate on the date specified in the termination notice and Lessee’s option shall be extinguished. 

9.6 Abatement of Rent; Lessee’s Remedies. 

(a) Abatement. In the event of Premises Partial Damage or Premises Total Destruction or a Hazardous Substance Condition for which
Lessee is not responsible under this Lease, the Rent payable by Lessee for the period required for the repair, remediation or restoration of such damage shall be abated in proportion to the degree to which Lessee’s use of the Premises is
impaired, but not to exceed the proceeds received from the Rental Value insurance. All other obligations of Lessee hereunder shall be performed by Lessee, and Lessor shall have no liability for any such damage, destruction, remediation, repair or
restoration except as provided herein. 
 (b) Remedies. If Lessor is obligated to repair or restore the Premises and does not
commence, in a substantial and meaningful way, such repair or restoration within 90 days after such obligation shall accrue, Lessee may, at any time prior to the commencement of such repair or restoration, give written notice to Lessor and to any
Lenders of which Lessee has actual notice, of Lessee’s election to terminate this Lease on a date not less than 60 days following the giving of such notice. If Lessee gives such notice and such repair or restoration is not commenced within 30
days thereafter, this Lease shall terminate as of the date specified in said notice. If the repair or restoration is commenced within such 30 days, this Lease shall continue in full force and effect. “Commence” shall mean either the
unconditional authorization of the preparation of the required plans, or the beginning of the actual work on the Premises, whichever first occurs. 

9.7 Termination; Advance Payments. Upon termination of this Lease pursuant to Paragraph 6.2(g) or Paragraph 9, an equitable adjustment
shall be made concerning advance Base Rent and any other advance payments made by Lessee to Lessor. Lessor shall, in addition, return to Lessee so much of Lessee’s Security Deposit as has not been, or is not then required to be, used by Lessor.

 10. Real Property Taxes. 
 10.1
Definitions. 
 (a) “Real Property Taxes.” As used herein, the term “Real Property Taxes” shall
include any form of assessment; real estate, general, special, ordinary or extraordinary, or rental levy or tax (other than inheritance, personal income or estate taxes); improvement bond; and/or license fee imposed upon or levied against any legal
or equitable interest of Lessor in the Project, Lessor’s right to other income therefrom, and/or Lessor’s business of leasing, by any authority having the direct or indirect power to tax and where the funds are generated with reference to
the Project address. The term “Real Property Taxes” shall also include any tax, fee, levy, assessment or charge, or any increase therein: (i) imposed by reason of events occurring during the term of this Lease, including but
not limited to, a change in the ownership of the Project; (ii) a change in the improvements thereon; and/or (iii) levied or assessed on machinery or equipment provided by Lessor to Lessee pursuant to this Lease. 

(b) “Base Real Property Taxes.” As used herein, the term “Base Real Property Taxes” shall be the
amount of Real Property Taxes, which are assessed against the Project, during the entire calendar year in which the Lease is executed. 

  

			
	                    	  	                    
	
                   
 
	  	                    
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 10.2 Payment of Taxes. Except as otherwise provided in Paragraph 10.3, Lessor shall
pay the Real Property Taxes applicable to the Project 
 10.3 Additional Improvements. Notwithstanding Paragraph 10.2 hereof, Lessee
shall, however, pay to Lessor at the time the sum in lieu of Lessee’s Share of Common Area Operating Expenses is payable under Paragraph 4.2, the entirety of any increase in Real Property Taxes if assessed solely by reason of Alterations, Trade
Fixtures or Utility Installations placed upon the Premises by Lessee or at Lessee’s request or by reason of any alterations or improvements to the Premises made by Lessor subsequent to the execution of this Lease by the Parties. 

10.4 Joint Assessment. If the Building is not separately assessed, Real Property Taxes allocated to the Building shall be an equitable
proportion of the Real Property Taxes for all of the land and improvements included within the tax parcel assessed, such proportion to be determined by Lessor from the respective valuations assigned in the assessor’s work sheets or such other
information as may be reasonably available. Lessor’s reasonable determination thereof, in good faith, shall be conclusive. 
 10.5
Personal Property Taxes. Lessee shall pay prior to delinquency all taxes assessed against and levied upon Lessee Owned Alterations and Utility Installations, Trade Fixtures, furnishings, equipment and all personal property of Lessee contained in
the Premises. When possible, Lessee shall cause its Lessee Owned Alterations and Utility Installations, Trade Fixtures, furnishings, equipment and all other personal property to be assessed and billed separately from the real property of Lessor. If
any of Lessee’s said property shall be assessed with Lessor’s real property, Lessee shall pay Lessor the taxes attributable to Lessee’s property within 10 days after receipt of a written statement setting forth the taxes applicable to
Lessee’s property. 
 11. Utilities and Services. Lessee shall pay for all light, power, telephone, trash disposal, janitorial services, and
other utilities and services supplied to the Premises, together with any taxes thereon. Notwithstanding the provisions of Paragraph 4.2, if at any time in Lessor’s sole judgment, Lessor determines that Lessee is using a disproportionate amount
of water, electricity or other commonly metered utilities, or that Lessee is generating such a large volume of trash as to require an increase in the size of the trash receptacle and/or an increase in the number of times per month that it is
emptied, then Lessor may increase Lessee’s Base Rent by an amount equal to such increased costs. There shall be no abatement of Rent and Lessor shall not be liable in any respect whatsoever for the inadequacy, stoppage, interruption or
discontinuance of any utility or service due to riot, strike, labor dispute, breakdown, accident, repair or other cause beyond Lessor’s reasonable control or in cooperation with governmental request or directions. Within fifteen days of
Lessor’s written request, Lessee agrees to deliver to Lessor such information, documents and/or authorization as Lessor needs in order for Lessor to comply with new or existing Applicable Requirements relating to commercial building energy
usage, ratings, and/or the reporting thereof. 
 12. Assignment and Subletting. 

12.1 Lessor’s Consent Required. 

(a) Lessee shall not voluntarily or by operation of law assign, transfer, mortgage or encumber (collectively, “assign or
assignment”) or sublet all or any part of Lessee’s interest in this Lease or in the Premises without Lessor’s prior written consent, which shall not be unreasonably withheld, conditioned or delayed. Lessor shall respond to any request
for consent within fifteen (15) days. 
 (b) Unless Lessee is a corporation and its stock is publicly traded on a national stock
exchange, a change in the control of Lessee shall constitute an assignment requiring consent. The transfer, on a cumulative basis, of 5025% or more of the voting control of Lessee shall constitute a change in control for this purpose. A change in
control resulting from an initial public offering of stock, an equity financing or a bona fide employee stock option program shall not constitute an assignment requiring consent, but shall constitute an assignment that is subject to the notice
requirements set forth in Paragraph 54(a) of the Addendum. 
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 (d) An assignment or subletting without consent shall, at Lessor’s option, be a
Default curable after notice per Paragraph 13.1(d), or a non-curable Breach without the necessity of any notice and grace period. If Lessor elects to treat such unapproved assignment or subletting as a non-curable Breach, Lessor may terminate this
Lease. 
 (e) Lessee’s remedy for any breach of Paragraph 12.1 by Lessor shall be limited to compensatory damages and/or
injunctive relief. 
 (f) Lessor may reasonably withhold consent to a proposed assignment or subletting if Lessee is in Default at
the time consent is requested. 
 (g) Notwithstanding the foregoing, allowing a de minimis portion of the Premises, ie. 20 square
feet or less, to be used by a third party vendor in connection with the installation of a vending machine or pay phone shall not constitute a subletting. 

12.2 Terms and Conditions Applicable to Assignment and Subletting. 

(a) Regardless of Lessor’s consent, no assignment or subletting shall : (i) be effective without the express written assumption by
such assignee or sublessee of the obligations of Lessee under this Lease, (ii) release Lessee of any obligations hereunder, or (iii) alter the primary liability of Lessee for the payment of Rent or for the performance of any other
obligations to be performed by Lessee. 
 (b) Lessor may accept Rent or performance of Lessee’s obligations from any person
other than Lessee pending approval or disapproval of an assignment. Neither a delay in the approval or disapproval of such assignment nor the acceptance of Rent or performance shall constitute a waiver or estoppel of Lessor’s right to exercise
its remedies for Lessee’s Default or Breach. 
 (c) Lessor’s consent to any assignment or subletting shall not constitute a
consent to any subsequent assignment or subletting. 
 (d) In the event of any Default or Breach by Lessee, Lessor may proceed
directly against Lessee, any Guarantors or anyone else responsible for the performance of Lessee’s obligations under this Lease, including any assignee or sublessee, without first exhausting Lessor’s remedies against any other person or
entity responsible therefor to Lessor, or any security held by Lessor. 
 (e) Each request for consent to an assignment or subletting
shall be in writing, accompanied by information relevant to Lessor’s determination as to the financial and operational responsibility and appropriateness of the proposed assignee or sublessee, including but not limited to the intended use
and/or required modification of the Premises, if any, together with a fee of $500 as consideration for Lessor’s considering and processing said request. Lessee agrees to provide Lessor with such other or additional information and/or
documentation as may be reasonably requested. (See also Paragraph 36) 
 (f) Any assignee of, or sublessee under, this Lease shall,
by reason of accepting such assignment, entering into such sublease, or entering into possession of the Premises or any portion thereof, be deemed to have assumed and agreed to conform and comply with each and every term, covenant, condition and
obligation herein to be observed or performed by Lessee during the term of said assignment or sublease, other than such obligations as are contrary to or inconsistent with provisions of an assignment or sublease to which Lessor has specifically
consented to in writing. 
 (g) Lessor’s consent to any assignment or subletting shall not transfer to the assignee or sublessee
any Option granted to the original Lessee by this Lease unless such transfer is specifically consented to by Lessor in writing. (See Paragraph 39.2) 

(h) Any sublease or assignment approved by Lessor pursuant to Paragraph 12.1 shall be subject to the requirement that all Net
Assignment or Sublease Profits (as defined below) are paid over to Lessor. For the purposes of this Lease, “Net Assignment or Sublease Profits” shall mean the amount of rent or other consideration actually received by Lessee from
such assignee or sublessee during each month that exceeds the amount of Rent payable by Lessee for such month, after deduction of all brokerage commissions paid by Lessee to secure such assignee or sublessee. 

  

			
	                    	  	                    
	
                   
 
	  	                    
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 12.3 Additional Terms and Conditions Applicable to Subletting. The following terms
and conditions shall apply to any subletting by Lessee of all or any part of the Premises and shall be deemed included in all subleases under this Lease whether or not expressly incorporated therein: 

(a) Lessee hereby assigns and transfers to Lessor all of Lessee’s interest in all Rent payable on any sublease, and Lessor may
collect such Rent and apply same toward Lessee’s obligations under this Lease; provided, however, that until a Breach shall occur in the performance of Lessee’s obligations, Lessee may collect said Rent. In the event that the amount
collected by Lessor exceeds Lessee’s then outstanding obligations (including Lessee’s obligations to pay over Net Assignment or Sublease Profits) any such excess shall be refunded to Lessee. Lessor shall not, by reason of the foregoing or
any assignment of such sublease, nor by reason of the collection of Rent, be deemed liable to the sublessee for any failure of Lessee to perform and comply with any of Lessee’s obligations to such sublessee. Lessee hereby irrevocably authorizes
and directs any such sublessee, upon receipt of a written notice from Lessor stating that a Breach exists in the performance of Lessee’s obligations under this Lease, to pay to Lessor all Rent due and to become due under the sublease. Sublessee
shall rely upon any such notice from Lessor and shall pay all Rents to Lessor without any obligation or right to inquire as to whether such Breach exists, notwithstanding any claim from Lessee to the contrary. 

(b) In the event of a Breach by Lessee, Lessor may, at its option, require sublessee to attorn to Lessor, in which event Lessor shall
undertake the obligations of the sublessor under such sublease from the time of the exercise of said option to the expiration of such sublease; provided, however, Lessor shall not be liable for any prepaid rents or security deposit paid by such
sublessee to such sublessor or for any prior Defaults or Breaches of such sublessor. 
 (c) Any matter requiring the consent of the
sublessor under a sublease shall also require the consent of Lessor. 
 (d) No sublessee shall further assign or sublet all or any
part of the Premises without Lessor’s prior written consent. 
 (e) Lessor shall deliver a copy of any notice of Default or
Breach by Lessee to the sublessee, who shall have the right to cure the Default of Lessee within the grace period, if any, specified in such notice. The sublessee shall have a right of reimbursement and offset from and against Lessee for any such
Defaults cured by the sublessee. 
 13. Default; Breach; Remedies. 

13.1 Default; Breach. A “Default” is defined as a failure by the Lessee to comply with or perform any of the terms,
covenants, conditions or Rules and Regulations under this Lease. A “Breach” is defined as the occurrence of one or more of the following Defaults, and the failure of Lessee to cure such Default within any applicable grace period:

 (a) The abandonment of the Premises; or the vacating of the Premises without providing a commercially reasonable level of
security, or where the coverage of the property insurance described in Paragraph 8.3 is jeopardized as a result thereof, or without providing reasonable assurances to minimize potential vandalism. 

(b) The failure of Lessee to make any payment of Rent or any Security Deposit required to be made by Lessee hereunder, whether to
Lessor or to a third party, when due, to provide reasonable evidence of insurance or surety bond, or to fulfill any obligation under this Lease which endangers or threatens life or property, where such failure continues for a period of 3 business
days following written notice to Lessee. THE ACCEPTANCE BY LESSOR OF A PARTIAL PAYMENT OF RENT OR SECURITY DEPOSIT SHALL NOT CONSTITUTE A WAIVER OF ANY OF LESSOR’S RIGHTS, INCLUDING LESSOR’S RIGHT TO RECOVER POSSESSION OF THE PREMISES.

  

			
	                    	  	                    
	
                   
 
	  	                    
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 (c) The failure of Lessee to allow Lessor and/or its agents access to the Premises
or the commission of waste, act or acts constituting public or private nuisance, and/or an illegal activity on the Premises by Lessee, where such actions continue for a period of 3 business days following written notice to Lessee. In the event that
Lessee commits waste, a nuisance or an illegal activity a second time then, the Lessor may elect to treat such conduct as a non-curable Breach rather than a Default. 

(d) The failure by Lessee to provide (i) where required, reasonable written evidence of compliance with Applicable Requirements,
(ii) the service contracts required pursuant to Paragraph 7.1(b), (iii) the rescission of an unauthorized assignment or subletting if Lessor elects to treat such event as a curable Default, (iv) where required, an Estoppel Certificate or
financial statements, (v) where required, a requested subordination, (vi) evidence concerning any guaranty and/or Guarantor, (vii) any document requested under Paragraph 41, (viii) where required, material safety data sheets (MSDS),
or (ix) any other documentation or information which Lessor may reasonably require of Lessee under the terms of this Lease, where any such failure continues for a period of 10 days following written notice to Lessee. 

(e) A Default by Lessee as to the terms, covenants, conditions or provisions of this Lease, or of the rules adopted under Paragraph 2.9
hereof, other than those described in subparagraphs 13.1(a), (b), (c) or (d), above, where such Default continues for a period of 30 days after written notice; provided, however, that if the nature of Lessee’s Default is such that more than 30
days are reasonably required for its cure, then it shall not be deemed to be a Breach if Lessee commences such cure within said 30 day period and thereafter diligently prosecutes such cure to completion. 

(f) The occurrence of any of the following events: (i) the making of any general arrangement or assignment for the benefit of
creditors; (ii) becoming a “debtor” as defined in 11 U.S.C. § 101 or any successor statute thereto (unless, in the case of a petition filed against Lessee, the same is dismissed within 60 days); (iii) the appointment of a trustee
or receiver to take possession of substantially all of Lessee’s assets located at the Premises or of Lessee’s interest in this Lease, where possession is not restored to Lessee within 30 days; or (iv) the attachment, execution or
other judicial seizure of substantially all of Lessee’s assets located at the Premises or of Lessee’s interest in this Lease, where such seizure is not discharged within 30 days; provided, however, in the event that any provision of this
subparagraph is contrary to any applicable law, such provision shall be of no force or effect, and not affect the validity of the remaining provisions. 

(g) The discovery that any financial statement of Lessee or of any Guarantor given to Lessor was materially false. 

(h) If the performance of Lessee’s obligations under this Lease is guaranteed: (i) the death of a Guarantor, (ii) the
termination of a Guarantor’s liability with respect to this Lease other than in accordance with the terms of such guaranty, (iii) a Guarantor’s becoming insolvent or the subject of a bankruptcy filing, (iv) a Guarantor’s
refusal to honor the guaranty, or (v) a Guarantor’s breach of its guaranty obligation on an anticipatory basis, and Lessee’s failure, within 60 days following written notice of any such event, to provide written alternative assurance
or security, which, when coupled with the then existing resources of Lessee, equals or exceeds the combined financial resources of Lessee and the Guarantors that existed at the time of execution of this Lease. 

13.2 Remedies. If Lessee fails to perform any of its affirmative duties or obligations, within 10 days after written notice (or in case
of an emergency, without notice), Lessor may, at its option, perform such duty or obligation on Lessee’s behalf, including but not limited to the obtaining of reasonably required bonds, insurance policies, or governmental licenses, permits or
approvals. Lessee shall pay to Lessor an amount equal to 115% of the costs and expenses incurred by Lessor in such performance upon receipt of an invoice therefor. In the event of a Breach, Lessor may, with or without further notice or demand, and
without limiting Lessor in the exercise of any right or remedy which Lessor may have by reason of such Breach: 
 (a) Terminate
Lessee’s right to possession of the Premises by any lawful means, in which case this Lease shall terminate and Lessee shall immediately surrender possession to Lessor. In such event Lessor shall be entitled to recover from Lessee: (i) the
unpaid Rent which had been earned at the time of termination; (ii) the worth at the time of award of the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of such rental
loss that the Lessee proves could have been reasonably avoided; (iii) the worth at the time of award of the amount by which the unpaid rent for the balance 

  

			
	                    	  	                    
	
                   
 
	  	                    
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of the term after the time of award exceeds the amount of such rental loss that the Lessee proves could be reasonably avoided; and (iv) any other amount necessary to compensate Lessor for
all the detriment proximately caused by the Lessee’s failure to perform its obligations under this Lease or which in the ordinary course of things would be likely to result therefrom, including but not limited to the cost of recovering
possession of the Premises, expenses of reletting, including necessary renovation and alteration of the Premises, reasonable attorneys’ fees, and that portion of any leasing commission paid by Lessor in connection with this Lease applicable to
the unexpired term of this Lease. The worth at the time of award of the amount referred to in provision (iii) of the immediately preceding sentence shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of
the District within which the Premises are located at the time of award plus one percent. Efforts by Lessor to mitigate damages caused by Lessee’s Breach of this Lease shall not waive Lessor’s right to recover any damages to which Lessor
is otherwise entitled. If termination of this Lease is obtained through the provisional remedy of unlawful detainer, Lessor shall have the right to recover in such proceeding any unpaid Rent and damages as are recoverable therein, or Lessor may
reserve the right to recover all or any part thereof in a separate suit. If a notice and grace period required under Paragraph 13.1 was not previously given, a notice to pay rent or quit, or to perform or quit given to Lessee under the unlawful
detainer statute shall also constitute the notice required by Paragraph 13.1. In such case, the applicable grace period required by Paragraph 13.1 and the unlawful detainer statute shall run concurrently, and the failure of Lessee to cure the
Default within the greater of the two such grace periods shall constitute both an unlawful detainer and a Breach of this Lease entitling Lessor to the remedies provided for in this Lease and/or by said statute. 

(b) Continue the Lease and Lessee’s right to possession and recover the Rent as it becomes due, in which event Lessee may sublet
or assign, subject only to reasonable limitations. Acts of maintenance, efforts to relet, and/or the appointment of a receiver to protect the Lessor’s interests, shall not constitute a termination of the Lessee’s right to possession. 

(c) Pursue any other remedy now or hereafter available under the laws or judicial decisions of the state wherein the Premises are
located. The expiration or termination of this Lease and/or the termination of Lessee’s right to possession shall not relieve Lessee from liability under any indemnity provisions of this Lease as to matters occurring or accruing during the term
hereof or by reason of Lessee’s occupancy of the Premises. 
 13.3 Inducement Recapture. Any agreement for free or abated rent or
other charges, the cost of tenant improvements for Lessee paid for or performed by Lessor, or for the giving or paying by Lessor to or for Lessee of any cash or other bonus, inducement or consideration for Lessee’s entering into this Lease, all
of which concessions are hereinafter referred to as “Inducement Provisions,” shall be deemed conditioned upon Lessee’s full and faithful performance of all of the terms, covenants and conditions of this Lease. Upon Breach of
this Lease by Lessee, any such Inducement Provision shall automatically be deemed deleted from this Lease and of no further force or effect, and any rent, other charge, bonus, inducement or consideration theretofore abated, given or paid by Lessor
under such an Inducement Provision shall be immediately due and payable by Lessee to Lessor, notwithstanding any subsequent cure of said Breach by Lessee. The acceptance by Lessor of rent or the cure of the Breach which initiated the operation of
this paragraph shall not be deemed a waiver by Lessor of the provisions of this paragraph unless specifically so stated in writing by Lessor at the time of such acceptance. 

13.4 Late Charges. Lessee hereby acknowledges that late payment by Lessee of Rent will cause Lessor to incur costs not contemplated by
this Lease, the exact amount of which will be extremely difficult to ascertain. Such costs include, but are not limited to, processing and accounting charges, and late charges which may be imposed upon Lessor by any Lender. Accordingly, if any Rent
shall not be received by Lessor within 5 days after such amount shall be due, then, without any requirement for notice to Lessee, Lessee shall immediately pay to Lessor a one-time late charge equal to 55% of
each such overdue amount or $100, whichever is greater. The parties hereby agree that such late charge represents a fair and reasonable estimate of the costs Lessor will incur by reason of such late payment. Acceptance of such late charge by Lessor
shall in no event constitute a waiver of Lessee’s Default or Breach with respect to such overdue amount, nor prevent the exercise of any of the other rights and remedies granted hereunder. In the event that a late charge is payable hereunder,
whether or not collected, for 3 consecutive installments of Base Rent, then notwithstanding any provision of this Lease to the contrary, Base Rent shall, at Lessor’s option, become due and payable quarterly in advance. 

13.5 Interest. Any monetary payment due Lessor hereunder, other than late charges, not received by Lessor, when due shall bear interest
from the 31st day after it was due. The interest (“Interest”) charged shall be computed at the rate of 10% per annum but shall not exceed the maximum rate allowed by law. Interest is payable in addition to the potential late charge
provided for in Paragraph 13.4. 

  

			
	                    	  	                    
	
                   
 
	  	                    
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 13.6 Breach by Lessor. 

(a) Notice of Breach. Lessor shall not be deemed in breach of this Lease unless Lessor fails within a reasonable time to perform an
obligation required to be performed by Lessor. For purposes of this Paragraph, a reasonable time shall in no event be less than 30 days after receipt by Lessor, and any Lender whose name and address shall have been furnished to Lessee in writing for
such purpose, of written notice specifying wherein such obligation of Lessor has not been performed; provided, however, that if the nature of Lessor’s obligation is such that more than 30 days are reasonably required for its performance, then
Lessor shall not be in breach if performance is commenced within such 30 day period and thereafter diligently pursued to completion. 

(b) Performance by Lessee on Behalf of Lessor. In the event that neither Lessor nor Lender cures said breach within 30 days after
receipt of said notice, or if having commenced said cure they do not diligently pursue it to completion, then Lessee may elect to cure said breach at Lessee’s expense and offset from Rent the actual and reasonable cost to perform such cure,
provided however, that such offset shall not exceed an amount equal to the greater of one month’s Base Rent or the Security Deposit, reserving Lessee’s right to reimbursement from Lessor for any such expense in excess of such offset.
Lessee shall document the cost of said cure and supply said documentation to Lessor. 
 14. Condemnation. If the Premises or any portion thereof are
taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively “Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or
possession, whichever first occurs. If more than 10% of the floor area of the Unit, or more than 25% of the parking spaces is taken by Condemnation, Lessee may, at Lessee’s option, to be exercised in writing within 10 days after Lessor shall
have given Lessee written notice of such taking (or in the absence of such notice, within 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If
Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility
of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for
severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for Lessee’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is
terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any
and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation. 

15. Brokerage Fees. 
 15.1
[Intentionally deleted] 
 15.2 Assumption of Obligations. Any buyer or transferee of Lessor’s interest in this Lease shall
be deemed to have assumed Lessor’s obligation hereunder. 
 15.3 Representations and Indemnities of Broker Relationships. Lessee
and Lessor each represent and warrant to the other that it has had no dealings with any person, firm, broker, agent or finder (other than the Brokers and Agents, if any) in connection with this Lease, and that no one other than said named Brokers
and Agents is entitled to any commission or finder’s fee in connection herewith. Lessee and Lessor do each hereby agree to indemnify, protect, defend and hold the other harmless from and against liability for compensation or charges which may
be claimed by any such unnamed broker, finder or other similar party by reason of any dealings or actions of the indemnifying Party, including any costs, expenses, attorneys’ fees reasonably incurred with respect thereto. 

  

			
	                    	  	                    
	
                   
 
	  	                    
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 16. Estoppel Certificates. 

(a) Each Party (as “Responding Party”) shall within 10 business days after written notice from the other Party
(the “Requesting Party”) execute, acknowledge and deliver to the Requesting Party a statement in writing in form similar to the then most current “Estoppel Certificate” form published BY AIR CRE, plus such
additional information, confirmation and/or statements as may be reasonably requested by the Requesting Party. 
 (b) If the
Responding Party shall fail to execute or deliver the Estoppel Certificate within such 10 business day period, the Requesting Party may execute an Estoppel Certificate stating that: (i) the Lease is in full force and effect without modification
except as may be represented by the Requesting Party, (ii) there are no uncured defaults in the Requesting Party’s performance, and (iii) if Lessor is the Requesting Party, not more than one month’s rent has been paid in advance.
Prospective purchasers and encumbrancers may rely upon the Requesting Party’s Estoppel Certificate, and the Responding Party shall be estopped from denying the truth of the facts contained in said Certificate. 

17. Definition of Lessor. The term “Lessor” as used herein shall mean the owner or owners at the time in question of the fee title to
the Premises, or, if this is a sublease, of the Lessee’s interest in the prior lease. In the event of a transfer of Lessor’s title or interest in the Premises or this Lease, Lessor shall deliver to the transferee or assignee (in cash or by
credit) any unused Security Deposit held by Lessor. Upon such transfer or assignment and delivery of the Security Deposit, as aforesaid, the prior Lessor shall be relieved of all liability with respect to the obligations and/or covenants under this
Lease thereafter to be performed by the Lessor. Subject to the foregoing, the obligations and/or covenants in this Lease to be performed by the Lessor shall be binding only upon the Lessor as hereinabove defined. 

18. Severability. The invalidity of any provision of this Lease, as determined by a court of competent jurisdiction, shall in no way affect the validity
of any other provision hereof. 
 19. Days. Unless otherwise specifically indicated to the contrary, the word “days” as used in this Lease
shall mean and refer to calendar days. 
 20. Limitation on Liability. The obligations of Lessor under this Lease shall not constitute personal
obligations of Lessor, or its partners, members, directors, officers or shareholders, and Lessee shall look to the Premises, and to no other assets of Lessor, for the satisfaction of any liability of Lessor with respect to this Lease, and shall not
seek recourse against Lessor’s partners, members, directors, officers or shareholders, or any of their personal assets for such satisfaction. 
 21.
Time of Essence. Time is of the essence with respect to the performance of all obligations to be performed or observed by the Parties under this Lease. 

22. No Prior or Other Agreements. This Lease contains all agreements between the Parties with respect to any matter mentioned herein, and no other prior
or contemporaneous agreement or understanding shall be effective. 
 23. Notices. 

23.1 Notice Requirements. All notices required or permitted by this Lease or applicable law shall be in writing and may be delivered in
person (by hand or by courier) or may be sent by regular, certified or registered mail or U.S. Postal Service Express Mail, with postage prepaid, or by facsimile transmission, or by email, and shall be deemed sufficiently given if served in a manner
specified in this Paragraph 23. The addresses noted adjacent to a Party’s signature on this Lease shall be that Party’s address for delivery or mailing of notices. Either Party may by written notice to the other specify a different address
for notice, except that upon Lessee’s taking possession of the Premises, the Premises shall constitute Lessee’s address for notice. A copy of all notices to Lessor shall be concurrently transmitted to such party or parties at such
addresses as Lessor may from time to time hereafter designate in writing. 

  

			
	                    	  	                    
	
                   
 
	  	                    
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 23.2 Date of Notice. Any notice sent by registered or certified mail, return receipt
requested, shall be deemed given on the date of delivery shown on the receipt card, or if no delivery date is shown, the postmark thereon. If sent by regular mail the notice shall be deemed given 72 hours after the same is addressed as required
herein and mailed with postage prepaid. Notices delivered by United States Express Mail or overnight courier that guarantees next day delivery shall be deemed given 24 hours after delivery of the same to the Postal Service or courier. Notices
delivered by hand, or transmitted by facsimile transmission or by email shall be deemed delivered upon actual receipt. If notice is received on a Saturday, Sunday or legal holiday, it shall be deemed received on the next business day. 

23.3 Options. Notwithstanding the foregoing, in order to exercise any Options (see paragraph 39), the Notice must be sent by Certified
Mail (return receipt requested), Express Mail (signature required), courier (signature required) or some other methodology that provides a receipt establishing the date the notice was received by the Lessor. 

24. Waivers. 
 (a) No waiver by
Lessor of the Default or Breach of any term, covenant or condition hereof by Lessee, shall be deemed a waiver of any other term, covenant or condition hereof, or of any subsequent Default or Breach by Lessee of the same or of any other term,
covenant or condition hereof. Lessor’s consent to, or approval of, any act shall not be deemed to render unnecessary the obtaining of Lessor’s consent to, or approval of, any subsequent or similar act by Lessee, or be construed as the
basis of an estoppel to enforce the provision or provisions of this Lease requiring such consent. 
 (b) The acceptance of Rent by
Lessor shall not be a waiver of any Default or Breach by Lessee. Any payment by Lessee may be accepted by Lessor on account of monies or damages due Lessor, notwithstanding any qualifying statements or conditions made by Lessee in connection
therewith, which such statements and/or conditions shall be of no force or effect whatsoever unless specifically agreed to in writing by Lessor at or before the time of deposit of such payment. 

(c) THE PARTIES AGREE THAT THE TERMS OF THIS LEASE SHALL GOVERN WITH REGARD TO ALL MATTERS RELATED THERETO AND HEREBY WAIVE THE
PROVISIONS OF ANY PRESENT OR FUTURE STATUTE TO THE EXTENT THAT SUCH STATUTE IS INCONSISTENT WITH THIS LEASE. 
 25. [Intentionally deleted]] 

26. No Right To Holdover. Lessee has no right to retain possession of the Premises or any part thereof beyond the expiration or termination of this
Lease. In the event that Lessee holds over, then the Base Rent shall be increased to 150% of the Base Rent applicable immediately preceding the expiration or termination. Holdover Base Rent shall be calculated on monthly basis. Nothing contained
herein shall be construed as consent by Lessor to any holding over by Lessee. 
 27. Cumulative Remedies. No remedy or election hereunder shall be
deemed exclusive but shall, wherever possible, be cumulative with all other remedies at law or in equity. 
 28. Covenants and Conditions; Construction of
Agreement. All provisions of this Lease to be observed or performed by Lessee are both covenants and conditions. In construing this Lease, all headings and titles are for the convenience of the Parties only and shall not be considered a part of
this Lease. Whenever required by the context, the singular shall include the plural and vice versa. This Lease shall not be construed as if prepared by one of the Parties, but rather according to its fair meaning as a whole, as if both Parties had
prepared it. 
 29. Binding Effect; Choice of Law. This Lease shall be binding upon the parties, their personal representatives, successors and
assigns and be governed by the laws of the State in which the Premises are located. Any litigation between the Parties hereto concerning this Lease shall be initiated in the county in which the Premises are located. 

  

			
	                    	  	                    
	
                   
 
	  	                    
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 30. Subordination; Attornment; Non-Disturbance. 

30.1 Subordination. This Lease and any Option granted hereby shall be subject and subordinate to any ground lease, mortgage, deed of
trust, or other hypothecation or security device (collectively, “Security Device”), now or hereafter placed upon the Premises, to any and all advances made on the security thereof, and to all renewals, modifications, and extensions
thereof. Lessee agrees that the holders of any such Security Devices (in this Lease together referred to as “Lender”) shall have no liability or obligation to perform any of the obligations of Lessor under this Lease. Any Lender may
elect to have this Lease and/or any Option granted hereby superior to the lien of its Security Device by giving written notice thereof to Lessee, whereupon this Lease and such Options shall be deemed prior to such Security Device, notwithstanding
the relative dates of the documentation or recordation thereof. 
 30.2 Attornment. In the event that Lessor transfers title to the
Premises, or the Premises are acquired by another upon the foreclosure or termination of a Security Device to which this Lease is subordinated (i) Lessee shall, subject to the non-disturbance provisions
of Paragraph 30.3, attorn to such new owner, and upon request, enter into a new lease, containing all of the terms and provisions of this Lease, with such new owner for the remainder of the term hereof, or, at the election of the new owner, this
Lease will automatically become a new lease between Lessee and such new owner, and (ii) Lessor shall thereafter be relieved of any further obligations hereunder and such new owner shall assume all of Lessor’s obligations, except that such
new owner shall not: (a) be liable for any act or omission of any prior lessor or with respect to events occurring prior to acquisition of ownership; (b) be subject to any offsets or defenses which Lessee might have against any prior
lessor, (c) be bound by prepayment of more than one month’s rent, or (d) be liable for the return of any security deposit paid to any prior lessor which was not paid or credited to such new owner. 

30.3 Non-Disturbance. With respect to Security Devices entered into by Lessor after the
execution of this Lease, Lessee’s subordination of this Lease shall be subject to receiving a commercially reasonable non-disturbance agreement (a
“Non-Disturbance Agreement”) from the Lender which Non-Disturbance Agreement provides that Lessee’s possession of the Premises, and this Lease,
including any options to extend the term hereof, will not be disturbed so long as Lessee is not in Breach hereof and attorns to the record owner of the Premises. Further, within 60 days after the execution of this Lease, Lessor shall, if requested
by Lessee, use its commercially reasonable efforts to obtain a Non-Disturbance Agreement from the holder of any pre-existing Security Device which is secured by the
Premises. In the event that Lessor is unable to provide the Non-Disturbance Agreement within said 60 days, then Lessee may, at Lessee’s option, directly contact Lender and attempt to negotiate for the
execution and delivery of a Non-Disturbance Agreement. 
 30.4 Self-Executing. The agreements
contained in this Paragraph 30 shall be effective without the execution of any further documents; provided, however, that, upon written request from Lessor or a Lender in connection with a sale, financing or refinancing of the Premises, Lessee and
Lessor shall execute such further writings as may be reasonably required to separately document any subordination, attornment and/or Non-Disturbance Agreement provided for herein. 

31. Attorneys’ Fees. If any Party or Broker brings an action or proceeding involving the Premises whether founded in tort, contract or equity, or
to declare rights hereunder, the Prevailing Party (as hereafter defined) in any such proceeding, action, or appeal thereon, shall be entitled to reasonable attorneys’ fees. Such fees may be awarded in the same suit or recovered in a separate
suit, whether or not such action or proceeding is pursued to decision or judgment. The term, “Prevailing Party” shall include, without limitation, a Party or Broker who substantially obtains or defeats the relief sought, as the case
may be, whether by compromise, settlement, judgment, or the abandonment by the other Party or Broker of its claim or defense. The attorneys’ fees award shall not be computed in accordance with any court fee schedule, but shall be such as to
fully reimburse all attorneys’ fees reasonably incurred. In addition, Lessor shall be entitled to attorneys’ fees, costs and expenses incurred in the preparation and service of notices of Default and consultations in connection therewith,
whether or not a legal action is subsequently commenced in connection with such Default or resulting Breach ($200 is a reasonable minimum per occurrence for such services and consultation). 

32. Lessor’s Access; Showing Premises; Repairs. Lessor and Lessor’s agents shall have the right to enter the Premises at any time, in the case
of an emergency, and otherwise at reasonable times after reasonable prior notice for the purpose of showing the same to prospective purchasers, lenders, or tenants, and making such alterations, repairs, improvements or additions to the Premises as
Lessor may deem necessary or desirable and the erecting, using and maintaining of utilities, services, pipes and conduits through the 

  

			
	                    	  	                    
	
                   
 
	  	                    
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Premises and/or other premises as long as there is no material adverse effect on Lessee’s use of the Premises; provided, however, that so long as Lessee is not in Default of its obligations
under this Lease, the right of Lessor and Lessor’s agents to enter the Premises to show them to prospective tenants shall only be effective during the last year of the Term. All such activities shall be without abatement of rent or liability to
Lessee. 
 33. Auctions. Lessee shall not conduct, nor permit to be conducted, any auction upon the Premises without Lessor’s prior written
consent. Lessor shall not be obligated to exercise any standard of reasonableness in determining whether to permit an auction. 
 34. Signs. Lessee
shall, at no cost to Lessee, receive building-standard directory signage in the main lobby and in Lessee’s elevator floor lobby. Lessor may place on the Premises ordinary “For Sale” signs at any time and ordinary “For
Lease” signs during the last 6 months of the term hereof. Except for ordinary “For Sublease” signs which may be placed only on the Premises, Lessee shall not place any sign upon the Project without Lessor’s prior
written consent. All signs must comply with all Applicable Requirements. 
 35. Termination; Merger. Unless specifically stated otherwise in writing
by Lessor, the voluntary or other surrender of this Lease by Lessee, the mutual termination or cancellation hereof, or a termination hereof by Lessor for Breach by Lessee, shall automatically terminate any sublease or lesser estate in the Premises;
provided, however, that Lessor may elect to continue anyone or all existing subtenancies. Lessor’s failure within 10 days following any such event to elect to the contrary by written notice to the holder of any such lesser interest, shall
constitute Lessor’s election to have such event constitute the termination of such interest. 
 36. Consents. All requests for consent shall be
in writing. Except as otherwise provided herein, wherever in this Lease the consent of a Party is required to an act by or for the other Party, such consent shall not be unreasonably withheld or delayed. Lessor’s actual reasonable costs and
expenses (including but not limited to architects’, attorneys’, engineers’ and other consultants’ fees) incurred in the consideration of, or response to, a request by Lessee for any Lessor consent, including but not limited to
consents to an assignment, a subletting or the presence or use of a Hazardous Substance, shall be paid by Lessee upon receipt of an invoice and supporting documentation therefor. Lessor’s consent to any act, assignment or subletting shall not
constitute an acknowledgment that no Default or Breach by Lessee of this Lease exists, nor shall such consent be deemed a waiver of any then existing Default or Breach, except as may be otherwise specifically stated in writing by Lessor at the time
of such consent. The failure to specify herein any particular condition to Lessor’s consent shall not preclude the imposition by Lessor at the time of consent of such further or other conditions as are then reasonable with reference to the
particular matter for which consent is being given. In the event that either Party disagrees with any determination made by the other hereunder and reasonably requests the reasons for such determination, the determining party shall furnish its
reasons in writing and in reasonable detail within 10 business days following such request. 
 37. Guarantor. 

37.1 Execution. The Guarantors, if any, shall each execute a guaranty in the form most recently published BY AIR CRE. 

37.2 Default. It shall constitute a Default of the Lessee if any Guarantor fails or refuses, upon request to provide: (a) evidence
of the execution of the guaranty, including the authority of the party signing on Guarantor’s behalf to obligate Guarantor, and in the case of a corporate Guarantor, a certified copy of a resolution of its board of directors authorizing the
making of such guaranty, (b) current financial statements, (c) an Estoppel Certificate, or (d) written confirmation that the guaranty is still in effect. 

38. Quiet Possession. So long as Lessee is not in Default of its obligations under the Lease, Lessee shall have quiet possession and quiet enjoyment of
the Premises during the term hereof. 
 39. Options. If Lessee is granted any option, as defined below, then the following provisions shall apply.

 39.1 Definition. “Option” shall mean: (a) the right to extend or reduce the term of or renew this Lease or to
extend or reduce the term of or renew any lease that Lessee has on other property of Lessor; (b) the right of first refusal or first offer to lease either the Premises or other property of Lessor; (c) the right to purchase, the right of
first offer to purchase or the right of first refusal to purchase the Premises or other property of Lessor. 

  

			
	                    	  	                    
	
                   
 
	  	                    
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 39.2 Options Personal To Original Lessee. Any Option granted to Lessee in this Lease
is personal to the original Lessee, and cannot be assigned or exercised by anyone other than said original Lessee and only while the original Lessee is in full possession of the Premises and, if requested by Lessor, with Lessee certifying that
Lessee has no intention of thereafter assigning or subletting. 
 39.3 Multiple Options. In the event that Lessee has any multiple
Options to extend or renew this Lease, a later Option cannot be exercised unless the prior Options have been validly exercised. 
 39.4
Effect of Default on Options. 
 (a) Lessee shall have no right to exercise an Option: (i) during the period commencing with
the giving of any notice of Default and continuing until said Default is cured, (ii) during the period of time any Rent is unpaid (without regard to whether notice thereof is given Lessee), (iii) during the time Lessee is in Breach of this
Lease, or (iv) in the event that Lessee has been given 3 or more notices of separate Default, whether or not the Defaults are cured, during the 12 month period immediately preceding the exercise of the Option. 

(b) The period of time within which an Option may be exercised shall not be extended or enlarged by reason of Lessee’s inability
to exercise an Option because of the provisions of Paragraph 39.4(a). 
 (c) An Option shall terminate and be of no further force or
effect, notwithstanding Lessee’s due and timely exercise of the Option, if, after such exercise and prior to the commencement of the extended term or completion of the purchase, (i) Lessee fails to pay Rent for a period of 30 days after
such Rent becomes due (without any necessity of Lessor to give notice thereof), or (ii) if Lessee commits a Breach of this Lease. 
 40. Security
Measures. Lessee hereby acknowledges that the Rent payable to Lessor hereunder does not include the cost of guard service or other security measures, and that Lessor shall have no obligation whatsoever to provide same. Lessee assumes all
responsibility for the protection of the Premises, Lessee, its agents and invitees and their property from the acts of third parties. 
 41.
Reservations. Lessor reserves the right: (i) to grant, without the consent or joinder of Lessee, such easements, rights and dedications that Lessor deems necessary, (ii) to cause the recordation of parcel maps and restrictions, and
(iii) to create and/or install new utility raceways, so long as such easements, rights, dedications, maps, restrictions, and utility raceways do not unreasonably interfere with the use of the Premises by Lessee. Lessee agrees to sign any
documents reasonably requested by Lessor to effectuate such rights. 
 42. Performance Under Protest. If at any time a dispute shall arise as to any
amount or sum of money to be paid by one Party to the other under the provisions hereof, the Party against whom the obligation to pay the money is asserted shall have the right to make payment “under protest” and such payment shall not be
regarded as a voluntary payment and there shall survive the right on the part of said Party to institute suit for recovery of such sum. If it shall be adjudged that there was no legal obligation on the part of said Party to pay such sum or any part
thereof, said Party shall be entitled to recover such sum or so much thereof as it was not legally required to pay. A Party who does not initiate suit for the recovery of sums paid “under protest” within 6 months shall be deemed to have
waived its right to protest such payment. 
 43. Authority, Multiple Parties, Execution. 

(a) If either Party hereto is a corporation, trust, limited liability company, partnership, or similar entity, each individual
executing this Lease on behalf of such entity represents and warrants that he or she is duly authorized to execute and deliver this Lease on its behalf. Each Party shall, within 30 days after request, deliver to the other Party satisfactory evidence
of such authority. 

  

			
	                    	  	                    
	
                   
 
	  	                    
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 (b) If this Lease is executed by more than one person or entity as
“Lessee”, each such person or entity shall be jointly and severally liable hereunder. It is agreed that any one of the named Lessees shall be empowered to execute any amendment to this Lease, or other document ancillary thereto and
bind all of the named Lessees, and Lessor may rely on the same as if all of the named Lessees had executed such document. 
 (c) This
Lease may be executed by the Parties in counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument. 

44. Conflict. Any conflict between the printed provisions of this Lease and the typewritten or handwritten provisions shall be controlled by the
typewritten or handwritten provisions. 
 45. Offer. Preparation of this Lease by either party or their agent and submission of same to the other
Party shall not be deemed an offer to lease to the other Party. This Lease is not intended to be binding until executed and delivered by all Parties hereto. 

46. Amendments. This Lease may be modified only in writing, signed by the Parties in interest at the time of the modification. As long as they do not
materially change Lessee’s obligations hereunder, Lessee agrees to make such reasonable non-monetary modifications to this Lease as may be reasonably required by a Lender in connection with the obtaining
of normal financing or refinancing of the Premises. 
 47. Waiver of Jury Trial. THE PARTIES HEREBY WAIVE THEIR RESPECTIVE RIGHTS TO TRIAL BY JURY IN
ANY ACTION OR PROCEEDING INVOLVING THE PROPERTY OR ARISING OUT OF THIS AGREEMENT. 
 48. Arbitration of Disputes. An Addendum requiring the
Arbitration of all disputes between the Parties and/or Brokers arising out of this Lease ____________ is _____X______ is not attached to this Lease. 

49. Accessibility, Americans with Disabilities Act. 

(a) The Premises: 

☒ have not undergone an inspection by a Certified Access Specialist (CASp). Note: A Certified Access Specialist (CASp) can inspect
the subject premises and determine whether the subject premises comply with all of the applicable construction-related accessibility standards under state law. Although state law does not require a CASp inspection of the subject premises, the
commercial property owner or lessor may not prohibit the lessee or tenant from obtaining a CASp inspection of the subject premises for the occupancy or potential occupancy of the lessee or tenant, if requested by the lessee or tenant. The parties
shall mutually agree on the arrangements for the time and manner of the CASp inspection, the payment of the fee for the CASp inspection, and the cost of making any repairs necessary to correct violations of construction-related accessibility
standards within the premises. 
 ☐ have undergone an inspection by a Certified Access Specialist (CASp) and it was determined
that the Premises met all applicable construction-related accessibility standards pursuant to California Civil Code §55.51 et seq. Lessee acknowledges that it received a copy of the inspection report at least 48 hours prior to executing this
Lease and agrees to keep such report confidential. 
 ☐ have undergone an inspection by a Certified Access Specialist (CASp) and
it was determined that the Premises did not meet all applicable construction-related accessibility standards pursuant to California Civil Code §55.51 et seq. Lessee acknowledges that it received a copy of the inspection report at least 48 hours
prior to executing this Lease and agrees to keep such report confidential except as necessary to complete repairs and corrections of violations of construction related accessibility standards. 

In the event that the Premises have been issued an inspection report by a CASp the Lessor shall provide a copy of the disability access
inspection certificate to Lessee within 7 days of the execution of this Lease. 

  

			
	                    	  	                    
	
                   
 
	  	                    
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 (b) Since compliance with the Americans with Disabilities Act (ADA) and other state
and local accessibility statutes are dependent upon Lessee’s specific use of the Premises, Lessor makes no warranty or representation as to whether or not the Premises comply with ADA or any similar legislation. In the event that Lessee’s
specific use of the Premises (as opposed to office use generally) requires modifications or additions to the Premises in order to be in compliance with ADA or other accessibility statutes, Lessee agrees to make any such necessary modifications
and/or additions at Lessee’s expense. 
 LESSOR AND LESSEE HAVE CAREFULLY READ AND REVIEWED THIS LEASE AND EACH TERM AND PROVISION CONTAINED HEREIN,
AND BY THE EXECUTION OF THIS LEASE SHOW THEIR INFORMED AND VOLUNTARY CONSENT THERETO. THE PARTIES HEREBY AGREE THAT, ATTHE TIME THIS LEASE IS EXECUTED, THE TERMS OF THIS LEASE ARE COMMERCIALLY REASONABLE AND EFFECTUATE THE INTENT AND PURPOSE OF
LESSOR AND LESSEE WITH RESPECT TO THE PREMISES. 
 ATTENTION: NO REPRESENTATION OR RECOMMENDATION IS MADE BY AIR CRE OR BY ANY BROKER AS TO THE LEGAL
SUFFICIENCY, LEGAL EFFECT, OR TAX CONSEQUENCES OF THIS LEASE OR THE TRANSACTION TO WHICH IT RELATES. THE PARTIES ARE URGED TO: 
 (1) SEEK ADVICE OF
COUNSEL AS TO THE LEGAL AND TAX CONSEQUENCES OF THIS LEASE. 
 (2) RETAIN APPROPRIATE CONSULTANTS TO REVIEW AND INVESTIGATE THE CONDITION OF THE
PREMISES. SAID INVESTIGATION SHOULD INCLUDE BUT NOT BE LIMITED TO: THE POSSIBLE PRESENCE OF HAZARDOUS SUBSTANCES, THE ZONING OF THE PREMISES, THE STRUCTURAL INTEGRITY, THE CONDITION OF THE ROOF AND OPERATING SYSTEMS, COMPLIANCE WITH THE AMERICANS
WITH DISABILITIES ACT AND THE SUITABILITY OF THE PREMISES FOR LESSEE’S INTENDED USE. 
 WARNING: IF THE PREMISES ARE LOCATED IN A STATE OTHER
THAN CALIFORNIA, CERTAIN PROVISIONS OF THE LEASE MAY NEED TO BE REVISED TO COMPLY WITH THE LAWS OF THE STATE IN WHICH THE PREMISES ARE LOCATED. 
 The
parties hereto have executed this Lease at the place and on the dates specified above their respective signatures. 
  

									
	Executed at: 585 Howard St., San Francisco	 		  	Executed at: 301 Mission St., San Francisco
	On: 7/1/19	 		  	On: 7/1/19
			
	By LESSOR:	 		  	By LESSEE:
			
	585 Howard Street Partners, a California general partnership	 	        	  	Nuvation Bio Inc., a Delaware corporation
					
	By:	  	/s/ George Yamas	 		  	By:	  	/s/ David Hung
	Name:	  	George Yamas	 		  	Name:	  	David Hung
	Title:	  	General Partner	 		  	Title:	  	CEO
	Phone:	  	(415) 987-1589	 		  	Phone:	  	  

	Fax:	  	  
	 		  	Fax:	  	  

	Email: geyamas@yahoo.com	 		  	Email:	  	david.hung@nuvationbio.com

  

			
	                    	  	                    
	
                   
 
	  	                    
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	© 2017AIR CRE. All Rights Reserved.	  	Last Edited: 6/27/20195:22 PM
	ADD-1.02, Revised 01-01-2019	  	Page 28 of 29

									
	By:	 	  
	 		  	By:	  	  

	Name:	 	  
	 		  	Name:	  	  

	Title:	 	  
	 		  	Title:	  	  

	Phone:	 	  
	 		  	Phone:	  	  

	Fax:	 	  
	 		  	Fax:	  	  

	Email:	 	  
	 		  	Email:	  	  

	Address: 585 Howard Street, San Francisco, CA 94105	 	        	  	Address:	  	  

	Federal ID No.:	 		 		  	Federal ID No.:	  	  

					
	BROKER	 		 		  	BROKER	  	
	N/A	 	  
	 		  	CBRE, Inc.	  	
	Attn:	 	  
	 		  	Attn:	  	  

	Title:	 	  
	 		  	Title:	  	  

	Address:	 	  
	 		  	Address:	  	  

	Phone:	 	  
	 		  	Phone:	  	  

	Fax:	 	  
	 		  	Fax:	  	  

	Email:	 	  
	 		  	Email:	  	  

	Federal ID No.:	 	  
	 		  	Federal ID No.:	  	  

	Broker/AGENT DRE License #:
                                         
   	 		  	Broker/AGENT DRE License #:
                                        
    

 AIR CRE. 500 North Brand Blvd, Suite 900, Glendale, CA 91203, Tel 2136878777, Email contracts@aircre.com

 NOTICE: No part of these works may be reproduced in any form without permission in writing. 

  

			
	                    	  	                    
	
                   
 
	  	                    
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	ADD-1.02, Revised 01-01-2019	  	Page 29 of 29EX-10.21

 Exhibit 10.21 

STOCK RESTRICTION AGREEMENT 

THIS STOCK RESTRICTION AGREEMENT (this
“Agreement”) is made as of June 17, 2019, by and between NUVATION BIO INC., a Delaware corporation (the “Company”), and David T. Hung
(“Holder”). 
 WHEREAS, Holder is currently the holder of an aggregate of 281,130,898 shares
of the Company’s Common Stock (the “Stock”); and 
 WHEREAS, the Company and GIRAFPHARMA
LLC, a Delaware limited liability company (“Giraf”), are parties to an Asset Acquisition Agreement dated as of January 21, 2019 (the “Giraf Agreement”), pursuant to which, under certain
circumstances, the Company may become obligated to issue to Giraf a specified number of shares of the Company’s Common Stock upon the occurrence of an IPO or Sale Event (as such terms are defined in the Giraf Agreement) (the
“Subsequent Shares”); and 
 WHEREAS, in order to induce certain investors to enter into a
Series A Preferred Stock Purchase Agreement dated on or about the date hereof (the “Purchase Agreement”) and purchase shares of the Company’s Series A Preferred Stock in connection therewith, and to provide an incentive
for Holder to exercise Holder’s reasonable best efforts on behalf of the Company, Holder agrees to be bound by the terms and conditions set forth herein; and 

WHEREAS, Holder and the Company wish to enter into and make this Agreement effective subject to and contingent upon the
consummation of the First Tranche Closing (as defined in the Purchase Agreement); 
 NOW,
THEREFORE, in consideration of the foregoing recitals, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:

 1.    CANCELLATION RIGHT. In the event that the Company becomes obligated to issue any
Subsequent Shares pursuant to the Giraf Agreement, then the Company shall have the right (the “Cancellation Right”), exercisable upon or at any time after such issuance, to acquire from Holder or Holder’s personal
representative, as the case may be, for no consideration, and to cancel a number of shares of Stock equal to the number of Subsequent Shares so issued. The shares of Stock to be so acquired and canceled shall be taken first from shares of Stock that
is not Subject Stock (as defined below) and then, if necessary, from Subject Stock in the order in which such shares will vest pursuant to Section 2(c)(ii) below (the “Unvested Subsequent Shares”). 

2.    REPURCHASE OPTION 

(a)    In the event Holder’s relationship with the Company (or a parent or subsidiary of the Company)
terminates for any reason, or for no reason, such that after such termination Holder is no longer providing services to the Company (or a parent or subsidiary of the Company) as an employee, consultant or advisor (a “Service
Provider”), then the Company shall have an irrevocable option (the “Repurchase Option”), for a period of 120 days after said termination to repurchase from Holder or Holder’s personal representative, as the
case may be, at a price that is the lower of (i) the original price per share paid by Holder for such Stock or (ii) the Fair Market Value per share of such Stock as of the date of such repurchase (“Option Price”),
up to but not exceeding the number of shares of Stock that have not vested in accordance with the provisions of Sections 2(b) and 2(c) below as of such termination date. For purposes of the Repurchase Option, the “Fair Market
Value” shall mean the value of the Stock as 

  
 1. 

 
determined in good faith by the Company’s Board of Directors, including the director(s) elected by the holders of the Company’s Preferred Stock, to the extent any are appointed at that
time (the “Preferred Directors”). The term of the repurchase option shall be extended to such longer period (1) as may be agreed to by the Company and Holder, or (2) as needed to ensure the stock issued by the
Company does not lose its status as “qualified small business stock” under Section 1202 of the Code (as defined below). Holder hereby acknowledges that the Company has no obligation, either now or in the future, to repurchase any
of the shares of Common Stock, whether vested or unvested, at any time. Further, Holder acknowledges and understands that, in the event that the Company repurchases shares, the repurchase price may be less than the price Holder originally paid and
that Holder bears any risk associated with the potential loss in value. 
 (b)    Vesting: 66% of the
Stock (the “Subject Stock”) shall initially be subject to the Repurchase Option. Subject to the acceleration provisions in Section 2(c) below, 1/36 of the Subject Stock shall vest and be released from the Repurchase
Option on a monthly basis measured from the date of the First Tranche Closing (as defined in the Purchase Agreement) until all of the Subject Stock is released from the Repurchase Option (provided in each case that Holder remains a Service Provider
as of the date of such release). 
 (c)    Acceleration Provisions. 

(i)    The Repurchase Option shall lapse as to 100% of the then-unvested shares of Subject Stock and such
then-unvested shares of Subject Stock shall immediately become fully vested automatically upon the occurrence of any of the following: (i) a Change in Control (as defined below) is consummated; (ii) Holder’s employment is terminated
as a result of Holder’s death or disability; (iii) Holder’s employment is involuntarily terminated without Cause (as defined below); or (iv) Holder terminates Holder’s employment for Good Reason (as defined below); provided,
with respect to clauses (iii) and (iv), that such termination constitutes a “separation from service” within the meaning of Treasury Regulation Section 1.409A-1(h). 

(ii)    To the extent the Cancellation Right is triggered in Section 1, as may occur from time to time, the
Repurchase Option shall lapse as to the number, if any, of Unvested Subsequent Shares that are needed to satisfy the Company’s Cancellation Right, which shares shall immediately become fully vested automatically and shall thereafter be
transferred to the Company, and Holder shall have no further right to the Unvested Subsequent Shares. Upon such transfer, the Company shall become the legal and beneficial owner of the Stock being acquired and all rights and interest therein or
related thereto, and the Company shall have the right to transfer to its own name the Stock being acquired by the Company without further action by Holder. For the avoidance of doubt, the remaining shares of Subject Stock shall remain on the same
vesting schedule, such that the shares accelerated pursuant to the Company’s Cancellation Right shall not change the vesting schedule of the Subject Stock calculated on the date hereof. 

(d)    For purposes of the Repurchase Option, the following definitions shall apply: 

(i)    “Cause” shall mean any of the following: (1) an intentional and unauthorized use
or disclosure of the Company’s confidential information or trade secrets, which use or disclosure causes material harm to the Company; (2) conviction of any felony under the laws of the United States or any state thereof; (3) willful
participation in a material fraud against the Company; (4) gross negligence or willful misconduct which causes material harm to the Company; (5) intentional and material damage to the Company’s property; (6) sustained and
material failure to perform the duties customarily associated with Holder’s position that has not been cured within thirty (30) days after written notice from the Company or the Company’s Board of Directors of such failure or
(7) any other material breach of this Agreement or any other agreement with the Company that has not been cured within thirty (30) days after written notice from the Company or the Company’s Board of Directors. 

  
 2. 

 (ii)    “Good Reason” shall mean any of
the following actions taken without Cause by the Company or a successor corporation or entity without Holder’s consent: (1) material reduction of Holder’s base compensation, other than a reduction that applies generally to all
executives and does not exceed 10%; (2) material reduction in Holder’s authority, duties or responsibilities such that Holder is no longer the Company’s Chief Executive Officer and most senior executive, reporting directly to the Board of
Directors; (3) failure or refusal of a successor to the Company to materially assume the Company’s obligations under this Agreement in the event of a Change in Control (as defined below); or (4) relocation of Holder’s principal
place of employment that results in an increase in Holder’s one-way commuting distance by more than 20 miles or time by more than 30 minutes from the location at which Holder is employed prior to such
change. In order to resign for Good Reason, Holder must provide written notice of the event giving rise to Good Reason to the Company’s Board of Directors within 90 days after the condition arises, allow the Company 10 days to cure such
condition, and, if the Company fails to cure the condition within such period, Holder’s resignation from all positions Holder then holds with the Company must be effective not later than 90 days after the end of the Company’s cure period.

 (iii)    “Change in Control” shall mean (1) a merger or consolidation in which
the Company is a constituent party (or of a subsidiary of the Company is a constituent party and the Company issues shares of its capital stock pursuant to such merger or consolidation), other than a merger or consolidation in which the voting
securities of the Company outstanding immediately prior to such merger or consolidation continue to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than 50% of the combined voting
power of the voting securities of the surviving entity outstanding immediately after such merger or consolidation, (2) any transaction or series of related transactions in which in excess of 50% of the Company’s voting power is
transferred, other than the sale by the Company of stock in transactions the primary purpose of which is to raise capital for the Company’s operations and activities, or (3) a sale, lease, exclusive license or other disposition of all or
substantially all (as determined by the Board of Directors in its sole discretion) of the assets of the Company other than a sale, lease, license or other disposition of all or substantially all of the consolidated assets of the Company to an
entity, more than 50% of the combined voting power of the voting securities of which are beneficially owned by shareholders of the Company in substantially the same proportions as their beneficial ownership of the outstanding voting securities of
the Company immediately prior to such sale, lease, exclusive license or other disposition. 
 3.    EXERCISE
OF CANCELLATION RIGHT OR REPURCHASE OPTION. 

(a)    The Company shall be deemed to have exercised the Cancellation Right immediately upon its issuance of
Subsequent Shares pursuant to the Giraf Agreement unless an officer of the Company notifies Holder in writing (as provided in Section 16(a)) that the Company (as approved by the Company’s Board of Directors, including the approval of all
Preferred Directors then serving, if any) will not exercise the Cancellation Right or defers the exercise of the Cancellation Right. 

(b)    The Company shall be deemed to have exercised the Repurchase Option automatically with respect to all
unvested shares of Stock as of the commencement of the Repurchase Option, unless an officer of the Company notifies Holder during the term of the Repurchase Option in writing (as provided in Section 16(a)) that the Company (as approved by the
Company’s Board of Directors, including the approval of all Preferred Directors then serving, if any) will not exercise the Repurchase Option for some or all of the Stock. The Company shall be entitled to pay for any shares of Stock purchased
pursuant to its Repurchase Option at the Company’s option in cash or by offset against any indebtedness owing to the Company by Holder, or by a combination of both. 

  
 3. 

 (c)    Upon exercise of the Cancellation Right or the Repurchase
Option in any of the ways described above, the Company shall become the legal and beneficial owner of the Stock being acquired and all rights and interest therein or related thereto, and the Company shall have the right to transfer to its own name
the Stock being acquired by the Company without further action by Holder. 
 4.    ADJUSTMENTS TO
STOCK. If, from time to time, during the term of the Cancellation Right or the Repurchase Option there is any change affecting the Company’s outstanding Common Stock as a class that is effected without the receipt of
consideration by the Company (through merger, consolidation, reorganization, reincorporation, stock dividend, dividend in property other than cash, stock split, liquidating dividend, combination of shares, change in corporation structure or other
transaction not involving the receipt of consideration by the Company), then any and all new, substituted or additional securities or other property to which Holder is entitled by reason of Holder’s ownership of Stock shall be immediately
subject to the Cancellation Right and the Repurchase Option and be included in the word “Stock” for all purposes of the Cancellation Right and the Repurchase Option with the same force and effect as the shares of the Stock presently
subject to the Cancellation Right or the Repurchase Option, but only to the extent the Stock is, at the time, covered by the Cancellation Right or the Repurchase Option, as applicable. While the total Option Price shall remain the same after each
such event, the Option Price per share of Stock upon exercise of the Repurchase Option shall be appropriately adjusted. 

5.    CORPORATE TRANSACTION. In the event of (a) an Acquisition (as defined below); or
(b) an Asset Transfer (as defined below) ((a) and (b) being collectively referred to herein as a “Corporate Transaction”), then the Cancellation Right and the Repurchase Option shall be assigned by the Company to
any successor of the Company (or the successor’s parent) in connection with such Corporate Transaction. To the extent that the Cancellation Right or the Repurchase Option remains in effect following such a Corporate Transaction, it shall apply
to the new capital stock or other property received in exchange for the Stock in consummation of the Corporate Transaction, but only to the extent the Stock is at the time covered by such right. Appropriate adjustments shall be made to the Option
Price per share payable upon exercise of the Repurchase Option to reflect the effect of the Corporate Transaction upon the Company’s capital structure; provided, however, that the aggregate Option Price shall remain the same. 

For the purposes of this Section 5: (i) “Acquisition” shall mean (A) any consolidation or merger of the
Company with or into any other corporation or other entity or person, or any other corporate reorganization; or (B) any transaction or series of related transactions to which the Company is a party in which in excess of 50% of the
Company’s voting power is transferred; and (ii) “Asset Transfer” shall mean a sale, lease, exclusive license or other disposition of all or substantially all of the assets of the Company. 

6.    TERMINATION OF CANCELLATION RIGHT AND
REPURCHASE OPTION. Section 1 and Section 2(c)(ii) of this Agreement shall terminate upon the exercise in full of the Cancellation Right or the time at which there is no longer any possibility that the
Company may be obligated to issue any Subsequent Shares pursuant to the Giraf Agreement, whichever occurs first. Sections 2 and 3 of this Agreement shall terminate upon the exercise in full or expiration of the Repurchase Option, whichever occurs
first. 
 7.    ESCROW OF STOCK. As security for Holder’s faithful
performance of the terms of this Agreement and to insure the availability for delivery of Holder’s Stock upon exercise of the Cancellation Right and the Repurchase Option herein provided for, Holder agrees, at the closing hereunder, to deliver
to and deposit with the Secretary of the Company or the Secretary’s designee, including the person or entity named in Joint Escrow Instructions (“Escrow Agent”), as Escrow Agent in this transaction, three stock
assignments duly endorsed (with date and number of shares blank) in the form attached hereto as Exhibit A, together with a certificate or certificates evidencing all of the Stock; said documents are to be

  
 4. 

 
held by the Escrow Agent and delivered by said Escrow Agent pursuant to the Joint Escrow Instructions of the Company and Holder set forth in Exhibit B attached hereto and incorporated by
this reference (“Joint Escrow Instructions”), which instructions shall also be delivered to the Escrow Agent at the closing hereunder. Holder hereby acknowledges that the Escrow Agent is so appointed as the escrow holder with
the foregoing authorities as a material inducement to make this Agreement and that said appointment is coupled with an interest and is accordingly irrevocable. Holder agrees that Escrow Agent shall not be liable to any party hereof (or to any other
party). Escrow Agent may rely upon any letter, notice or other document executed by any signature purported to be genuine and may resign at any time. Holder agrees that if the Escrow Agent resigns as Escrow Agent for any or no reason, the Board of
Directors of the Company shall have the power to appoint a successor to serve as Escrow Agent pursuant to the terms of this Agreement. Notwithstanding the foregoing, Holder agrees that if the Secretary of the Company resigns as Secretary, the
successor Secretary shall serve as Escrow Agent pursuant to the terms of this Agreement. 
 8.    PARACHUTE
PAYMENTS. 
 (a)    If any payment or benefit Holder would receive pursuant to a Corporate
Transaction from the Company or otherwise (“Payment”) would (i) constitute a “parachute payment” within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended (the
“Code”), and (ii) but for this sentence, be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then such Payment shall be reduced to the Reduced Amount. The
“Reduced Amount” shall be either (x) the largest portion of the Payment that would result in no portion of the Payment being subject to the Excise Tax or (y) the largest portion, up to and including the total, of
the Payment, whichever amount, after taking into account all applicable federal, state and local employment taxes, income taxes, and the Excise Tax (all computed at the highest applicable marginal rate), results in Holder’s receipt, on an after-tax basis, of the greater amount of the Payment notwithstanding that all or some portion of the Payment may be subject to the Excise Tax. If a reduction in payments and/or benefits constituting “parachute
payments” is necessary so that the Payment equals the Reduced Amount, reduction shall occur in the following order: reduction of current cash payments; reduction of deferred cash payments subject to Code Section 409A; cancellation
of accelerated vesting of stock awards; reduction of employee benefits. In the event that acceleration of vesting of stock award compensation is to be reduced, such acceleration of vesting shall be cancelled in the reverse order of the date of grant
of Holder’s stock awards. 
 (b)    The accounting firm engaged by the Company for general audit purposes as
of the day prior to the effective date of the Corporate Transaction shall perform the foregoing calculations. If the accounting firm so engaged by the Company is serving as accountant or auditor for the individual, entity or group affecting the
Corporate Transaction, the Company shall appoint an accounting firm reasonably acceptable to Holder to make the determinations required hereunder. The Company shall bear all expenses with respect to the determinations by such accounting firm
required to be made hereunder. 
 (c)    The accounting firm engaged to make the determinations hereunder shall
provide its calculations, together with detailed supporting documentation, to the Company and Holder within 15 calendar days after the date on which Holder’s right to a Payment is triggered (if requested at that time by the Company or Holder)
or such other time as requested by the Company or Holder. Any good faith determinations of the accounting firm made hereunder shall be final, binding and conclusive upon the Company and Holder. 

9.    RIGHTS OF HOLDER. Subject to the provisions of Sections 7, 10, 12 and 14
herein, Holder shall exercise all rights and privileges of a stockholder of the Company with respect to the Stock deposited in escrow. Holder shall be deemed to be the holder for purposes of receiving any dividends that may be paid with respect to
such shares of Stock and for the purpose of exercising any voting rights relating to such shares of Stock, even if some or all of such shares of Stock have not yet vested and been released from the Repurchase Option. 

  
 5. 

 10.    LIMITATIONS ON TRANSFER. In
addition to any other limitation on transfer created by applicable securities laws, Holder shall not assign, hypothecate, donate, encumber or otherwise dispose of any interest in the Stock while the Stock is subject to the Repurchase Option. After
any Stock has been released from the Repurchase Option, Holder shall not assign, hypothecate, donate, encumber or otherwise dispose of any interest in the Stock except in compliance with the provisions herein, in the Company’s Bylaws and
applicable securities laws. Furthermore, the Stock shall be subject to any right of first refusal in favor of the Company or its assignees that may be contained in the Company’s Bylaws. Holder hereby further acknowledges that Holder may be
required to hold the Stock indefinitely. During the period of time during which Holder holds the Stock, the value of the Stock may increase or decrease, and any risk associated with such Stock and such fluctuation in value shall be borne by
Holder. 
 11.    RESTRICTIVE LEGENDS. All certificates representing the Stock shall have
endorsed thereon legends in substantially the following forms (in addition to any other legend which may be required by other agreements between the parties hereto): 

(a)    “THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO AN OPTION SET FORTH IN AN AGREEMENT BETWEEN
THE COMPANY AND THE REGISTERED HOLDER, OR SUCH HOLDER’S PREDECESSOR IN INTEREST, A COPY OF WHICH IS ON FILE AT THE PRINCIPAL OFFICE OF THE COMPANY. ANY TRANSFER OR ATTEMPTED TRANSFER OF ANY SHARES SUBJECT TO SUCH OPTION IS VOID WITHOUT THE
PRIOR EXPRESS WRITTEN CONSENT OF THE COMPANY.” 
 (b)    “THE SHARES REPRESENTED BY THIS CERTIFICATE
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 AS AMENDED. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THE SECURITIES UNDER SAID ACT OR AN OPINION OF COUNSEL
SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.” 
 (c)    Any legend required by
appropriate blue sky officials. 
 12.    MARKET
STAND-OFF AGREEMENT. Holder shall not sell, dispose of, transfer, make any short sale of, grant any option for the purchase of, or enter into any hedging or
similar transaction with the same economic effect as a sale, any Common Stock or other securities of the Company held by Holder (other than those included in the registration), including the Stock (the “Restricted
Securities”), during the 180-day period following the effective date of the Company’s first firm commitment underwritten public offering of its Common Stock (or such longer period as the
underwriters or the Company shall request in order to facilitate compliance with applicable law) (the “Lock Up Period”), provided, however, that nothing contained in this Section 12 shall prevent the exercise of
the Cancellation Right or the Repurchase Option during the Lock Up Period. Holder agrees to execute and deliver such other agreements as may be reasonably requested by the Company and/or the managing underwriters that are consistent with the
foregoing or that are necessary to give further effect thereto. In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions with respect to Holder’s Restricted Securities until the end of such period. The
underwriters of the Company’s stock are intended third party beneficiaries of this Section 12 and shall have the right, power and authority to enforce the provisions hereof as though they were a party hereto. 

  
 6. 

 13.    PROTECTIVE
SECTION 83(B) ELECTION. Holder understands that when stock is initially purchased, Section 83(a) of the Code taxes as ordinary income the difference
between the amount paid for the stock and the fair market value of the stock as of the date any restrictions on the stock lapse, unless the purchaser elects to be taxed at the time the stock is purchased, rather than when and as the restrictions
expire, by filing an election under Section 83(b) (an “83(b) Election”) of the Code with the Internal Revenue Service within 30 days from the date of purchase. However, the Stock has been owned by Holder for some time
and is at this time being subjected to new substantial risks of forfeiture by agreement with the Company. Although Revenue Ruling 2007-49 indicates that the imposition of new forfeiture restrictions on the
Stock, such as the right of the Company to buy back the Stock pursuant to the Repurchase Option set forth in Section 2 above, should not be treated as a transfer of property under Section 83, Holder may choose to make a protective election
under Section 83(b) of the Code. Holder understands that failure to file such a protective 83(b) Election in a timely manner may result in adverse tax consequences for Holder. Holder further understands that an additional copy of such
protective 83(b) Election is required to be filed with his or her federal income tax return for the calendar year in which the date of this Agreement falls. HOLDER FURTHER ACKNOWLEDGES AND UNDERSTANDS THAT IT IS HOLDER’S SOLE
OBLIGATION AND RESPONSIBILITY TO TIMELY FILE SUCH PROTECTIVE 83(B) ELECTION, ATTACHED HERETO AS EXHIBIT C, AND NEITHER THE COMPANY NOR THE COMPANY’S LEGAL OR FINANCIAL ADVISORS SHALL HAVE ANY OBLIGATION OR RESPONSIBILITY
WITH RESPECT TO SUCH FILING. Holder acknowledges that the foregoing is only a summary of the effect of United States federal income taxation with respect to purchase of the Stock hereunder, and does not purport to be complete. Holder further
acknowledges that the Company has directed Holder to seek independent advice regarding the applicable provisions of the Code, the income tax laws of any municipality, state or foreign country in which Holder may reside, and the tax consequences of
Holder’s death. Holder assumes all responsibility for filing a protective 83(b) Election and paying all taxes resulting from such election or the lapse of the restrictions on the Stock. 

14.    REFUSAL TO TRANSFER. The Company shall not be required (a) to
transfer on its books any shares of Stock of the Company that shall have been transferred in violation of any of the provisions set forth in this Agreement or (b) to treat as owner of such shares or to accord the right to vote as such owner or
to pay dividends to any transferee to whom such shares shall have been so transferred. 
 15.    NO
EMPLOYMENT RIGHTS. This Agreement is not an employment or other service contract and nothing in this Agreement shall affect in any manner whatsoever the right or power of the Company (or a parent or subsidiary of
the Company) to terminate Holder’s employment or other service relationship for any reason at any time, with or without cause and with or without notice. 

16.    MISCELLANEOUS. 

(a)    Notices. All notices required or permitted hereunder shall be in writing and shall be deemed
effectively given: (i) upon personal delivery to the party to be notified, (ii) when sent by confirmed facsimile if sent during normal business hours of the recipient, and if not during normal business hours of the recipient, then on the
next business day, (iii) five calendar days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (iv) one business day after deposit with a nationally recognized overnight courier,
specifying next day delivery, with written verification of receipt. All communications shall be sent to the other party hereto at such party’s address hereinafter set forth on the signature page hereof, or at such other address as such party
may designate by ten (10) days advance written notice to the other party hereto. 
 (b)    Successors and
Assigns. This Agreement shall inure to the benefit of the successors and assigns of the Company and, subject to the restrictions on transfer herein set forth, be binding upon Holder, Holder’s successors, and assigns. The Repurchase Option
of the Company hereunder shall be assignable by the Company at any time or from time to time, in whole or in part. 

  
 7. 

 (c)    Attorneys’ Fees; Specific Performance. The
prevailing party in any suit or action hereunder shall be entitled to recover from the losing party all costs incurred by it in enforcing the performance of, or protecting its rights under, any part of this Agreement, including reasonable costs of
investigation and attorneys’ fees. 
 (d)    Governing Law; Venue. This Agreement shall be governed by
and construed in accordance with the laws of the State of Delaware. The parties agree that any action brought by either party to interpret or enforce any provision of this Agreement shall be brought in, and each party agrees to, and does hereby,
submit to the jurisdiction and venue of, the appropriate state or federal court for the district encompassing the Company’s principal place of business. 

(e)    Further Execution. The parties agree to take all such further action(s) as may reasonably be necessary
to carry out and consummate this Agreement as soon as practicable, and to take whatever steps may be necessary to obtain any governmental approval in connection with or otherwise qualify the issuance of the securities that are the subject of this
Agreement. 
 (f)    Independent Counsel. Holder acknowledges that this Agreement has been prepared on
behalf of the Company by Cooley LLP, counsel to the Company and that Cooley LLP does not represent, and is not acting on behalf of, Holder. Holder has been provided with an opportunity to consult with Holder’s own counsel with respect to this
Agreement. 
 (g)    Entire Agreement; Amendment. This Agreement constitutes the entire agreement between
the parties with respect to the subject matter hereof and supersedes and merges all prior agreements or understandings, whether written or oral, with respect to the subject matter hereof. This Agreement may not be amended, modified or revoked, in
whole or in part, except by an agreement in writing signed by each of the parties hereto. 

(h)    Severability. If one or more provisions of this Agreement are held to be unenforceable under
applicable law, the parties agree to renegotiate such provision in good faith. In the event that the parties cannot reach a mutually agreeable and enforceable replacement for such provision, then (i) such provision shall be excluded from this
Agreement, (ii) the balance of this Agreement shall be interpreted as if such provision were so excluded and (iii) the balance of this Agreement shall be enforceable in accordance with its terms. 

(i)    Counterparts. This Agreement may be executed in two 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 complying with the U.S. federal ESIGN Act of 2000,
Uniform Electronic Transactions Act or other applicable law) 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. 

  
 8. 

 IN WITNESS WHEREOF, the parties hereto
have executed this Stock Restriction Agreement as of the day and year first above written. 
  

					
	 COMPANY:
  

NUVATION BIO INC.

		
	By:	 	/s/ David T. Hung
		 	Name:	 	David T. Hung
		 	Title:	 	Chief Executive Officer

 
					
			
	Address:	 	  	 	160 Federal Street
		 		 	9th Floor
		 		 	Boston, MA 02110

 NUVATION BIO INC. 

SIGNATURE PAGE TO STOCK RESTRICTION AGREEMENT 

 HOLDER ACKNOWLEDGES AND AGREES
THAT THE VESTING OF SHARES PURSUANT TO SECTION 2 HEREOF IS EARNED
ONLY BY CONTINUING SERVICE AS AN EMPLOYEE OR CONSULTANT AT THE WILL
OF THE COMPANY. HOLDER FURTHER ACKNOWLEDGES AND AGREES THAT NOTHING IN
THIS AGREEMENT SHALL CONFER UPON HOLDER ANY RIGHT WITH RESPECT TO
CONTINUATION OF SUCH EMPLOYMENT OR CONSULTING RELATIONSHIP WITH THE COMPANY, NOR
SHALL IT INTERFERE IN ANY WAY WITH HOLDER’S RIGHT OR THE
COMPANY’S RIGHT TO TERMINATE HOLDER’S EMPLOYMENT OR CONSULTING
RELATIONSHIP AT ANY TIME, WITH OR WITHOUT CAUSE. 

HOLDER ACKNOWLEDGES AND AGREES THAT HOLDER MUST
HOLD THE COMMON STOCK PURCHASED HEREUNDER INDEFINITELY, AND THAT THE COMPANY
HAS NO OBLIGATION TO REPURCHASE SUCH SHARES. HOLDER FURTHER ACKNOWLEDGES THAT
ANY RISK RELATED TO THE FLUCTUATION IN THE VALUE OF THE STOCK
FROM AND AFTER THE DATE HEREOF, INCLUDING ANY LOSSES TO HOLDER AS
A RESULT OF THE COMPANY’S EXERCISE OF ITS REPURCHASE OPTION
PURSUANT TO SECTION 2, SHALL BE BORNE BY HOLDER. 

HOLDER ACKNOWLEDGES THAT HOLDER HAS READ ALL
TAX RELATED SECTIONS AND FURTHER ACKNOWLEDGES HOLDER HAS HAD AN OPPORTUNITY
TO CONSULT HOLDER’S OWN TAX, LEGAL AND FINANCIAL ADVISORS REGARDING
THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. 
  

			
	HOLDER:
	
	/s/ David T. Hung
	(Signature)
	
	David T. Hung
	Name (Please Print)

  

					
			
	Address:	 	            	 	160 Federal Street
		 		 	9th Floor
		 		 	Boston, MA 02110

 NUVATION BIO INC. 

SIGNATURE PAGE TO STOCK RESTRICTION AGREEMENT 

 EXHIBIT A 

STOCK ASSIGNMENTS SEPARATE FROM CERTIFICATE 

 STOCK ASSIGNMENT SEPARATE FROM CERTIFICATE 

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
NUVATION BIO INC., a Delaware corporation (the “Company”), pursuant to the Cancellation Right or Repurchase Option under that certain Stock Restriction Agreement, dated
______________, by and between the undersigned and the Company (the “Agreement”) __________________ shares of Common Stock of the Company standing in the undersigned’s name on the books of the Company represented by
Certificate No[s] ________________ and does hereby irrevocably constitute and appoint both the Company’s Secretary and the Company’s attorney, or either of them, to transfer said stock on the books of the Company with full power of
substitution in the premises. This Assignment may be used only in accordance with and subject to the terms and conditions of the Agreement, in connection with the cancellation or repurchase of shares of Common Stock issued to the undersigned
pursuant to the Agreement, and only to the extent that such shares remain subject to the Company’s Cancellation Right or Repurchase Option under the Agreement. 

			
		
	Dated:	 	   

		 	(leave blank)

  

	
	/s/ David T. Hung
	(Signature)
	
	David T. Hung
	Name (Please Print)

 INSTRUCTION: Please do not fill in any blanks other than the signature line. Do not fill
in the date line. The purpose of this Assignment is to enable the Company to exercise its Cancellation Right or Repurchase Option set forth in the Agreement without requiring additional signatures on the part of Holder. 

 STOCK ASSIGNMENT SEPARATE FROM CERTIFICATE 

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
NUVATION BIO INC., a Delaware corporation (the “Company”), pursuant to the Cancellation Right or Repurchase Option under that certain Stock Restriction Agreement, dated
______________, by and between the undersigned and the Company (the “Agreement”) __________________ shares of Common Stock of the Company standing in the undersigned’s name on the books of the Company represented by
Certificate No[s] ________________ and does hereby irrevocably constitute and appoint both the Company’s Secretary and the Company’s attorney, or either of them, to transfer said stock on the books of the Company with full power of
substitution in the premises. This Assignment may be used only in accordance with and subject to the terms and conditions of the Agreement, in connection with the cancellation or repurchase of shares of Common Stock issued to the undersigned
pursuant to the Agreement, and only to the extent that such shares remain subject to the Company’s Cancellation Right or Repurchase Option under the Agreement. 
  

			
		
	Dated:	 	   

		 	(leave blank)

  

	
	    
	(Signature)
	
	    
	Name (Please Print)

 INSTRUCTION: Please do not fill in any blanks other than the signature line. Do not fill
in the date line. The purpose of this Assignment is to enable the Company to exercise its Cancellation Right or Repurchase Option set forth in the Agreement without requiring additional signatures on the part of Holder. 

 STOCK ASSIGNMENT SEPARATE FROM CERTIFICATE 

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
NUVATION BIO INC., a Delaware corporation (the “Company”), pursuant to the Cancellation Right or Repurchase Option under that certain Stock Restriction Agreement, dated
______________, by and between the undersigned and the Company (the “Agreement”) __________________ shares of Common Stock of the Company standing in the undersigned’s name on the books of the Company represented by
Certificate No[s] ________________ and does hereby irrevocably constitute and appoint both the Company’s Secretary and the Company’s attorney, or either of them, to transfer said stock on the books of the Company with full power of
substitution in the premises. This Assignment may be used only in accordance with and subject to the terms and conditions of the Agreement, in connection with the cancellation or repurchase of shares of Common Stock issued to the undersigned
pursuant to the Agreement, and only to the extent that such shares remain subject to the Company’s Cancellation Right or Repurchase Option under the Agreement. 

			
		
	Dated:	 	   

		 	(leave blank)

  

	
	/s/ David T. Hung
	(Signature)
	
	David T. Hung
	Name (Please Print)

 INSTRUCTION: Please do not fill in any blanks other than the signature line. Do not fill
in the date line. The purpose of this Assignment is to enable the Company to exercise its Cancellation Right or Repurchase Option set forth in the Agreement without requiring additional signatures on the part of Holder. 

 EXHIBIT B 

JOINT ESCROW INSTRUCTIONS 

 JOINT ESCROW INSTRUCTIONS 

 

	
	 Secretary
 Nuvation Bio Inc.

	
	   

	
	   

 Ladies and Gentlemen: 
 As
Escrow Agent for both NUVATION BIO INC., a Delaware corporation (“Company”), and the holder listed on the signature page hereto (“Holder”), you are
hereby authorized and directed to hold the documents delivered to you pursuant to the terms of that certain Stock Restriction Agreement dated as of June 17, 2019 (the “Agreement”), to which a copy of these Joint Escrow
Instructions is attached as an Exhibit, in accordance with the following instructions: 
 1.    In the event
Company or an assignee shall elect to exercise the Cancellation Right or the Repurchase Option set forth in the Agreement, the Company or its assignee will give to Holder and you a written notice specifying the number of shares of stock to be
canceled or purchased, as the case may be, the purchase price (if applicable), and the time for a closing thereunder at the principal office of the Company. Holder and the Company hereby irrevocably authorize and direct you to close the transaction
contemplated by such notice in accordance with the terms of said notice. 
 2.    At the closing, you are directed
(a) to date the stock assignments necessary for the transfer in question, (b) to fill in the number of shares being transferred, and (c) to deliver the same, together with the certificate evidencing the shares of stock to be
transferred, to the Company against the simultaneous delivery to you of the purchase price (if applicable, which may include suitable acknowledgment of cancellation of indebtedness) for the number of shares of stock being acquired pursuant to the
exercise of the Cancellation Right or the Repurchase Option. 
 3.    Holder irrevocably authorizes the Company to
deposit with you any certificates evidencing shares of stock to be held by you hereunder and any additions and substitutions to said shares as specified in the Agreement. Holder does hereby irrevocably constitute and appoint you as his attorney-in-fact and agent for the term of this escrow to execute with respect to such securities all documents necessary or appropriate to make such securities negotiable and
complete any transaction herein contemplated, including but not limited to any appropriate filing with state or government officials or bank officials. Subject to the provisions of this paragraph 3, Holder shall exercise all rights and privileges of
a shareholder of the Company while the stock is held by you. 
 4.    This escrow shall terminate upon the
exercise in full or expiration (whichever occurs first) of both the Cancellation Right and the Repurchase Option. 

5.    If at the time of termination of this escrow under Section 4 herein you should have in your possession
any documents, securities, or other property belonging to Holder, you shall deliver all of the same to Holder and shall be discharged of all further obligations hereunder; provided, however, that if at the time of termination of this escrow
you are advised by the Company that any property subject to this escrow is the subject of a pledge or other security agreement, you shall deliver all such property to the pledgeholder or other person designated by the Company. 

  
 Joint Escrow Instructions

 Page 1 

 6.    Except as otherwise provided in these Joint Escrow
Instructions, your duties hereunder may be altered, amended, modified or revoked only by a writing signed by all of the parties hereto. 

7.    You shall be obligated only for the performance of such duties as are specifically set forth herein and may
rely and shall be protected in relying or refraining from acting on any instrument reasonably believed by you to be genuine and to have been signed or presented by the proper party or parties. You shall not be personally liable for any act you may
do or omit to do hereunder as Escrow Agent or as attorney-in-fact for Holder while acting in good faith and in the exercise of your own good judgment, and any act done
or omitted by you pursuant to the advice of your own attorneys shall be conclusive evidence of such good faith. 

8.    You are hereby expressly authorized to disregard any and all warnings given by any of the parties hereto or by
any other person or entity, excepting only orders or process of courts of law, and are hereby expressly authorized to comply with and obey orders, judgments or decrees of any court. In case you obey or comply with any such order, judgment or decree
of any court, you shall not be liable to any of the parties hereto or to any other person, firm or corporation by reason of such compliance, notwithstanding any such order, judgment or decree being subsequently reversed, modified, annulled, set
aside, vacated or found to have been entered without jurisdiction. 
 9.    You shall not be liable in any respect
on account of the identity, authorities or rights of the parties executing or delivering or purporting to execute or deliver these Joint Escrow Instructions documents or papers deposited or called for hereunder. 

10.    You shall not be liable for the outlawing of any rights under any statute of limitations with respect to
these Joint Escrow Instructions or any documents deposited with you. 
 11.    Your responsibilities as Escrow
Agent hereunder shall terminate if you shall cease to be Secretary of the Company or if you shall resign by written notice to the Company. In the event of any such termination, the Secretary of the Company shall automatically become the successor
Escrow Agent unless the Company shall appoint another successor Escrow Agent, and Holder hereby confirms the appointment of such successor as Holder’s
attorney-in-fact and agent to the full extent of your appointment. 

12.    If you reasonably require other or further instruments in connection with these Joint Escrow Instructions or
obligations in respect hereto, the necessary parties hereto shall join in furnishing such instruments. 

13.    It is understood and agreed that should any dispute arise with respect to the delivery and/or ownership or
right of possession of the securities held by you hereunder, you are authorized and directed to retain in your possession without liability to anyone all or any part of said securities until such dispute shall have been settled either by mutual
written agreement of the parties concerned or by a final order, decree or judgment of a court of competent jurisdiction after the time for appeal has expired and no appeal has been perfected, but you shall be under no duty whatsoever to institute or
defend any such proceedings. 

  
 Joint Escrow Instructions

 Page 2 

 14.    All notices required or permitted hereunder shall be in
writing and shall be deemed effectively given: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed telex or facsimile if sent during normal business hours of the recipient, and if not during normal business
hours of the recipient, then on the next business day, (c) five calendar days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one business day after deposit with a nationally
recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the other party hereto at such party’s address set forth below, or at such other address as such party may
designate by 10 days advance written notice to the other party hereto. 
  

			
	Company:	  	Address set forth in the Agreement
	Holder:	  	Address set forth in the Agreement
	Escrow Agent:	  	Address set forth on Page 1

 15.    By signing these Joint Escrow Instructions, you become a party hereto only
for the purpose of said Joint Escrow Instructions; you do not become a party to the Agreement. 
 16.    You shall
be entitled to employ such legal counsel and other experts (including, without limitation, the firm of Cooley LLP) as you may deem necessary properly to advise you in connection with your obligations hereunder. You may rely upon the advice of such
counsel, and you may pay such counsel reasonable compensation therefor. The Company shall be responsible for all fees generated by such legal counsel in connection with your obligations hereunder. 

17.    This instrument shall be binding upon and inure to the benefit of the parties hereto and their respective
successors and permitted assigns. It is understood and agreed that references to “you” and “your” herein refer to the original Escrow Agents and to any and all successor Escrow Agents. It is understood and agreed that the Company
may at any time or from time to time assign its rights under the Agreement and these Joint Escrow Instructions in whole or in part. 

18.    These Joint Escrow Instructions shall be governed by and interpreted and determined in accordance with the
laws of the State of Delaware, as such laws are applied by Delaware courts to contracts made and to be performed entirely in Delaware by residents of that state. The parties hereby expressly consent to the personal jurisdiction of the state and
federal courts located in the county in which the Company has its principal offices for any lawsuit arising from or related to this Agreement. 

[Remainder of page intentionally left blank] 

  
 Joint Escrow Instructions

 Page 3 

 The undersigned have executed this JOINT ESCROW
INSTRUCTIONS as of the date set forth above. 
  

					
	 COMPANY:
  

NUVATION BIO INC.

		
	By:	 	/s/ David T. Hung
		 	Name:	 	David T. Hung
		 	Title:	 	Chief Executive Officer

  

	
	HOLDER:
	
	/s/ David T. Hung
	(Signature)
	
	David T. Hung
	Name (Please Print)

  

					
	ESCROW AGENT:
		
	By:	 	/s/ Kenneth Guernsey
		 	Name:	 	Kenneth Guernsey
		 	Title:	 	Secretary

 EXHIBIT C 

SECTION 83(B) ELECTION 

 PROTECTIVE SECTION 83(b) ELECTION

 _______________, 2019 
 Department of the
Treasury 
 Internal Revenue Service 
 Fresno, CA 93888-0002

  

	Re:	 Protective Election Under Section 83(b) 

Ladies and Gentlemen: 
 This protective election is being made
under Section 83(b) of the Internal Revenue Code of 1986, as amended. The stock described below has been owned by the undersigned for some time and is at this time being subjected to new or revised substantial risks of forfeiture by agreement
with the service recipient. Although Revenue Ruling 2007-49 indicates that the imposition of new forfeiture restrictions on stock should not be treated as a transfer of property under Section 83, in the
unlikely event that such imposition is so treated with respect to the undersigned, the undersigned is making this protective election under Section 83(b) of the Code. The following information is supplied in accordance with Treasury Regulation
§ 1.83-2: 
  

	1.	 The name, social security number, address of the undersigned, and the taxable year for which this election
is being made are: 

  

			
	Name:	  	David T. Hung
	Social Security Number:	  	                                      
  
	Address:	  	                                      
  
		  	                                      
  

  

	  	 Taxable year: 

  

	2.	 The property that is the subject of this election: [●] shares of common stock (the
“Shares”) of Nuvation Bio Inc., a Delaware corporation (the “Company”). 

  

	3.	 The date on which the Shares were originally issued to the undersigned: [●]

  

	  	 The date on which the new risk of forfeiture was imposed with respect to the Shares: [●], 2019

  

	4.	 The Shares are subject to the following restrictions: The Shares are subject to forfeiture or repurchase
at less than their fair market value if the undersigned does not continue to provide services for the Company for a designated period of time. The risk of forfeiture or repurchase lapses over a specified vesting period. 

 

	5.	 The fair market value of the Shares at the time the new risk of forfeiture was imposed (determined without
regard to any restriction other than a nonlapse restriction as defined in Treasury Regulation § 1.83-3(h)): $[●] per Share x [●] Shares = $[●]. 

 

	6.	 The amount that would be deemed paid for the Shares, in the event the Shares were treated as being newly
acquired as a result of the imposition of new risks of forfeiture: $[●] per Share x [●] Shares = $[●].1 

 

	1 	 This amount should be identical to the value in paragraph 5. 

	7.	 The amount to include in gross income is: $0.00. 

The undersigned taxpayer will file this election with the Internal Revenue Service office with which taxpayer files his or her annual income tax return not
later than 30 days after the date of transfer of the Shares. A copy of the election also will be furnished to the person for whom the services were performed and the transferee of the Shares, if any. The undersigned is the person performing the
services in connection with which the Shares were transferred. 
  

	
	Very truly yours,
	
	   

	DAVID T. HUNG

 __________________, 2019 

CERTIFIED MAIL NUMBER ____________ 
 RETURN SERVICE
REQUESTED 
 Department of the Treasury 
 [Address]

  

	Re:	 Protective Election Under Section 83(b) of the Internal Revenue
Code 

 Dear Sir or Madam: 

Enclosed please find an executed form of protective election under Section 83(b) of the Internal Revenue Code of 1986, as amended, filed
with respect to an interest in Nuvation Bio Inc. 
 Also enclosed is a copy of this letter and a stamped, self-addressed envelope. Please
acknowledge receipt of these materials by marking the copy when received and returning it to the undersigned. 
 Thank you very much for
your assistance. 
  

	
	Very truly yours,
	
	   

	DAVID T. HUNG

 Enclosures

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