Document:

EX-10.1

 Exhibit 10.1 

TRANSITION, SEPARATION & GENERAL RELEASE AGREEMENT 

This TRANSITION, SEPARATION & GENERAL RELEASE AGREEMENT (“Agreement”) is made and entered into by and between MATTHEW
KOHNKE, on behalf of himself, and his heirs, estate, executors, administrators, representatives, successors and assigns (hereinafter collectively referred to as “Executive”) and DORMAN PRODUCTS, INC., on behalf of itself and its present,
past and future parent corporations, subsidiaries, affiliates, officers, directors, agents, employees and/or any other related entity (hereinafter collectively referred to as “Company”). 

WHEREAS, Executive has been employed by the Company as the Chief Financial Officer; and 

WHEREAS, Executive is resigning from the Company’s employ; and 

WHEREAS, in an effort to amicably part ways on mutually agreeable terms, the parties have agreed to provide consideration to each other as set
forth below; and 
 WHEREAS, the consideration offered by the Company includes a Special Severance Payment and other good and valuable
consideration, all of which is in addition to any benefits Executive may be entitled to receive in exchange for a release and waiver of claims. 

Intending to be legally bound hereby and in consideration of the mutual promises contained herein, the parties hereby agree as follows: 

Separation 
 1. Executive hereby
resigns as an officer and as an employee of the Company and from any other positions held by Executive in the Company or its subsidiaries effective at the close of business on February 26, 2016 (hereinafter the “Separation Date”), and
Executive’s employment with the Company and its subsidiaries will terminate as of such date. 
 Special Severance Payment and Other Consideration

 2. Provided that Executive (a) executes this Agreement and complies with the obligations below, (b) maintains a
professional attitude, (c) in good faith handles all work assignments given and assists in the smooth transition of his role from the date hererof through the Separation Date, (d) complies with all of his obligations under the Agreement
Relating To Non-Competition And Confidentiality Of Company Or Customer Information, dated February 25, 2011 (“Restrictive Covenant Agreement”), and, (e) no earlier than February 27, 2016, and no later than March 31,
2016, executes and delivers to the Company the waiver and release in the attached Exhibit A (and does not revoke such waiver and release), the Company will provide the following consideration to Executive: (i) accelerate the vesting of 2,000
shares of restricted stock held by Executive that are scheduled to vest on April 28, 2016, with the vesting date of such 

 
shares to be the first business day following the last day of the revocation period provided for in Exhibit A; (ii) payment of the Performance-Based Annual Award and the Performance-Based
Long Term Award that would have been payable to Executive under the Company’s Executive Cash Bonus Plan with respect to fiscal 2015 in the absence of Executive’s separation (the “2015 Bonus”), such payment to be paid at the same
time and in the same form as bonuses are paid to other executives under the Company’s Executive Cash Bonus Plan with respect to fiscal 2015, but in no event later than December 31, 2016; and (iii) a Special Severance Payment in the
total amount of eight (8) months of base salary ($157,490.70), less all required deductions and withholdings for FICA, taxes, etc. The Special Severance Payment will be paid out per the Company’s normal payroll cycle over eight
(8) months, beginning with the first full pay period following expiration of the revocation period in Exhibit A. 
 Executive understands and agrees
that the Special Severance Payment and other consideration above will not be included in the calculation of any of Executive’s benefits including, but not limited to, Executive’s retirement and/or pension benefits. Executive understands
that the Special Severance Payment and the other consideration above is in addition to benefits normally provided to an employee upon separation and is consideration to which Executive is not otherwise entitled. 

3. Executive agrees that he will submit all vouchers for reasonable business expenses prior to his Separation Date or as soon thereafter as is
practicable. Executive understands and agrees that, after his Separation Date, Executive will no longer be authorized to incur any expenses, obligations, or liabilities on behalf of the Company. 

Return of Company Property 
 4.
Prior to receiving the Special Severance Payment, Executive agrees to return to the Company all Company documents and property, which Executive received, obtained or prepared, or helped to prepare, in connection with Executive’s employment with
the Company. 
 All Compensation Due 

5. Executive acknowledges and agrees that the consideration in paragraph 2 above constitutes the sole and exclusive consideration provided
Executive under this Agreement, and that Executive is not entitled to this consideration if Executive does not sign this Agreement or if he does not execute (or revokes) Exhibit A. Executive further acknowledges and agrees that, other than base
salary and medical benefits to be provided between the date he signs this Agreement and the Separation Date and other than as required by the terms of any qualified retirement plan, non-qualified deferred compensation plan, or pursuant to COBRA,
Executive has received all wages, bonuses, compensation, remuneration and all other monies due Executive arising out of, relating to, or resulting from Executive’s employment with the Company, including but not limited to all monies due
Executive under any benefit plans established and/or maintained by the Company. 

  
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 Proprietary Company Information 

6. In accordance with and to supplement the Restrictive Covenant Agreement, Executive acknowledges and affirms Executive’s continuing
obligation to keep all Proprietary Company Information confidential and to not disclose it to any third party in the future. As used in this Agreement, the term “Proprietary Company Information” includes, but is not necessarily limited to,
trade secrets, confidential information, knowledge, data, or other information of the Company relating to products, processes, know-how, client lists, business plans, marketing plans and strategies, pricing strategies, and technical, marketing,
business, financial, or other information which constitutes trade secret information or information not available to competitors of the Company or subject matter pertaining to any business of the Company or any of its clients, licensees, or
affiliates, the use or disclosure of which might reasonably be construed to be contrary of the interests of the Company. Executive further agrees not to use, disclose, deliver, reproduce, or in any way allow any such trade secrets, confidential
information, knowledge, data, or other Proprietary Company Information, or any documentation relating thereto, to be delivered to or used by any third parties without specific direction or consent of a duly authorized representative of the Company.

 Non-Disparagement 
 7.
Executive further agrees that he will not in any way disparage or make negative, disparaging, or derogatory comments or statements, whether written or unwritten, about the Company, its employees, officers, directors, or shareholders, or its
reputation or services. The Company agrees that it’s directors and officers will not in any way disparage or make negative, disparaging, or derogatory comments or statements, whether written or unwritten, about the Executive or his reputation
or services. Nothing in this paragraph (or otherwise in this Agreement) is intended or shall be construed to suggest or imply that Executive or the Company cannot provide truthful information in response to a government investigation, a court and/or
administrative agency-issued subpoena, or other valid legal process. 
 Re-Employment 

8. Executive understands, acknowledges, and agrees that the Company has no obligation whatsoever to reinstate, recall, reemploy, or rehire
Executive to any position with the Company and that Executive agrees not to seek reinstatement, recall, re-employment, or rehire with the Company. Executive acknowledges and agrees that any actions taken pursuant to this provision cannot be used to,
and shall not, establish the existence of or constitute any retaliation by Company or its agents. 

  
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 Waiver and Release of All Claims 

9. As a material inducement to the Company to enter into this Agreement: 

(a) Executive fully, finally, and forever waives and releases any and all claims that Executive has or may have against the Company, its past,
present, and future parents, subsidiaries, affiliates, related companies, successors, assigns, shareholders, officers, directors, agents, representatives, employees and insurers, and all persons acting by, through, under or in concert with them, or
any of them (collectively, the “Releasees”), based on any claim or cause of action arising at any time prior to and including the date that Executive signs this Agreement. 

(b) Executive represents, warrants and covenants that Executive has not filed any complaints, charges or lawsuits against any Releasees.
Executive agrees further that Executive will terminate with prejudice any and all pending legal actions, complaints, suits or charges that Executive has made or instituted against any and all Releasees based on any claim, matter or thing arising at
any time prior to and including the date Executive signs this Agreement. 
 (c) Executive, on behalf of Executive and his heirs, executors,
estate, administrators and assigns, hereby unconditionally and generally releases and discharges Releasees, and each and every one of them, of and from all actions, causes of action in law or equity, claims, suits, debts, liens, contracts,
agreements, promises, liability, damages, loss or expense, and demands of any nature whatsoever, known or unknown, foreseen or unforeseen, fixed or contingent (hereinafter, collectively, “Claims”), which Executive has or may have against
Releasees, and/or any of them, arising at any time prior to and including the date Executive signs this Agreement; further including, without limitation, any and all Claims which relate directly or indirectly to Executive’s employment with the
Company and Executive’s separation from that employment; and further including, without limitation, Claims related to salary, bonuses, commissions, stock, stock options, or any other ownership or equity interest in the Company, vacation pay,
fringe benefits, expense reimbursements, severance pay, or any other form of compensation; and further including, without limitation, Claims, whether statutory, at common law or otherwise, for wrongful termination of employment, retaliation
(including whistleblower Claims), breach of contract, detrimental reliance, promissory estoppel, infliction of emotional distress, defamation, fraud, breach of covenant of good faith and fair dealing, misrepresentation or any other tort, and Claims
under the laws of the United States, the Commonwealth of Pennsylvania, or any other state; and further including, without limitation, Claims under the Family and Medical Leave Act, Employee Retirement Income Security Act, the Racketeer Influence and
Corrupt Organizations Act, the Worker Adjustment and Retraining Notification Act, the Sarbanes-Oxley Act, or qui tam claims under the False Claims Act, or Claims for discrimination based upon sex, race, age, national origin, religion, handicap,
disability, or other protected status, or for retaliation, including, without limitation, Claims based on Title VII of the United States Civil Rights Act of 1964, Section 1981 of U.S.C. Title 42, the Equal Pay Act, the United States Americans
with Disabilities Act, the Genetic Information Nondiscrimination Act, the United States Age Discrimination in Employment Act, the Pennsylvania Human Relations Act; and any Claims under any other law, local, state or federal, pertaining to employment
or the relationship between employer and employee; provided, however, that this release and waiver of Claims shall not apply to any rights or Claims that are not waivable as a matter of law. 

  
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 (d) Executive represents, warrants and covenants that Executive has not heretofore assigned or
transferred, or purported to assign or transfer, to any person or entity, any Claims against any Releasee or any portion thereof or interest therein. 

(e) Executive acknowledges and agrees that, should any government agency or other third party pursue any actions or other Claims on
Executive’s behalf, Executive waives any right to recovery, relief, or monetary award from such actions or proceedings, except to the extent, if any, that such waiver is prohibited by law. 

(f) Executive waives any right to become, and promises not to become, a member of any class or collective action proceeding or case against
the Company or any Releasee based on any Claim that arises prior to the date Executive signs this Agreement. 
 (g) This waiver and release
of Claims shall not apply to Executive’s Claims for workers’ compensation or unemployment compensation benefits or to any legal action seeking to challenge the validity of, or to enforce, this Agreement. 

(h) Executive understands and agrees that nothing in this Agreement (including, without limitation, paragraphs 7, 9, 10, and 11) is intended
to, or shall, interfere with or affect Executive’s right to participate or cooperate in any federal, state, or local administrative or government agency (such as the Equal Employment Opportunity Commission, Securities Exchange Commission, or
National Labor Relations Board) proceeding or investigation or to file a charge or claim with such an agency. Executive agrees that Executive shall not be entitled to any recovery, relief, or monetary award in connection with any such charge, claim,
or proceeding, regardless of who filed or initiated the charge, claim, or proceeding. 
 Older Workers Benefit Protection Act 

10. The Company and Executive intend for this Agreement to comply with the Older Workers’ Benefit Protection Action of 1990 (29 U.S.C.
Section 626), as amended. Accordingly, Executive acknowledges and represents as follows: 
 (a) Executive waives any rights or Claims
he may have, including but not limited to those under the United States Age Discrimination in Employment Act (“ADEA”), knowingly and voluntarily and in exchange for the consideration of value to which Executive would not otherwise have
been entitled, as set forth in this Agreement. 
 (b) Executive has been advised by the Company to consult an attorney before Executive
signs this Agreement. 
 (c) Executive has been given a period of at least twenty-one (21) days within which to consider this
Agreement. Executive understands and acknowledges that, at his option alone, this Agreement may be executed prior to the expiration of the twenty-one (21) day period. 

  
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 (d) Executive has been informed by the Company that Executive may revoke this Agreement during a
period of seven (7) days after signing it by providing written notice of such revocation to Dorman Products, Inc. – Attention: Debby Hecker, 3400 East Walnut Street, Colmar, PA 18915, which is received prior to the end of the seven
(7) day period and that the Agreement shall not become effective or enforceable until the revocation period has expired without Executive having exercised this right of revocation. 

(e) Executive has carefully read and fully understands all provisions of this Agreement, which includes a full release and waiver by Executive
of any and all claims. 
 (f) Executive has signed this Agreement knowingly and voluntarily and understands that Executive is not waiving or
releasing any Claims that may arise after the date this Agreement is executed. 
 Duty of Cooperation 

11. Executive agrees to make himself reasonably available to and cooperate with the Company and its attorneys with respect to any business
issues or legal proceedings that the Company believes, in its sole discretion, may be in any way related to his employment with the Company or to matters in which he was involved or has knowledge. Such cooperation encompasses Executive’s
assistance with matters preliminary to the instigation of any legal proceedings and assistance during and throughout any litigation, administrative, or legal proceeding, including, but not limited to, participating in any fact-finding efforts or
investigation, speaking with the Company’s attorneys, testifying in depositions, testifying at hearings or at trial, and assisting with any post-litigation matter or appeal. Nothing in this Paragraph should be construed as suggesting or
implying in any way that Executive should testify untruthfully. The Company shall make reasonable efforts to minimize disruption of the Executive’s other business activities. The Company will reimburse Executive for the reasonable expenses, if
any, for travel, or other direct costs (including, without limitation, pre-approved legal fees, such approval not to be unreasonably withheld or delayed) incurred by Executive associated with that cooperation. 

Breach of Separation Agreement and General Release 

12. This Agreement may be pleaded as a full and complete defense with respect to any action initiated by Executive covered by this Agreement.

  
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 Governing Law 

13. The construction, interpretation, and performance of this Agreement shall be governed by the laws of the Commonwealth of Pennsylvania,
without regard to its conflict of laws rules. 
 Successors and Assigns; Third Party Beneficiaries 

14. This Agreement, and all portions hereof, shall inure to the benefit of and be binding upon Executive and Executive’s heirs,
administrators, representatives executors, successors, beneficiaries, and assigns (only as agreed to by Company), and shall also inure to the benefit of the Company’s successors and assigns. The Releasees are intended third party beneficiaries
of this Agreement. 
 Non-Admission of Liability; Complete Defense to All Claims 

15. The execution of this Agreement shall not be deemed an admission of, or imply any, liability or wrongdoing on behalf of the Company or any
other Releasees. Executive acknowledges and agrees that this Agreement may be pleaded as a full and complete defense to, and may be used as the basis for an injunction or bar against, any action, suit, or other proceeding which Executive may
institute, prosecute, or maintain with respect to any matter, occurrence, or thing covered by this Agreement. 
 Tax Treatment –
Section 409A 
 16. The parties intend that all payments and benefits made under this Agreement are exempt from, or compliant
with, the requirements of Section 409A of the Internal Revenue Code of 1986, as amended, including regulations and other guidance thereunder and any state law of similar effect (collectively, “Section 409A”). The intent is that none
of these payments or benefits will be subject to the adverse tax penalties imposed under Section 409A, and any ambiguities in this Agreement will be interpreted to be so exempt or to so comply. Executive understands that in no event will the
Company reimburse the Executive for any taxes or other penalties that may be imposed on Executive as a result of Section 409A. Each payment to be made under this Agreement is deemed to be a separate payment for purposes of Section 409A.

 Captions 
 17. Captions and
headings of the sections and paragraphs of this Agreement are intended solely for convenience and no provision of this Agreement is to be construed by reference to the caption or heading of any section or paragraph. 

  
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 Counterparts 

18. This Agreement may be executed in any number of counterparts with the same effect as if all the signatures on such counterparts appeared on
one document, and each such counterpart shall be deemed to be an original. Delivery of a facsimile or electronic copy of an executed counterpart shall be as effective as a delivery of a manually executed counterpart of this Agreement. 

Severability/No Modification/Entire Agreement 

19. This Agreement, along with the Restrictive Covenant Agreement (which is incorporated herein), constitutes the entire agreement between the
parties and fully supersedes any and all prior agreements or understandings pertaining to the subject matter thereof. No other promises or agreements exist that are not contained herein. In the event that any provision(s), or portion(s) thereof, of
this Agreement, is determined to be illegal, unenforceable, or prohibited by applicable law, the remainder of this Agreement shall not be affected thereby and each remaining portion shall continue to be valid, effective and enforceable to the
fullest extent permitted by applicable law. Provided, however, that if, because of any act by or on behalf of Executive, any portion of the provisions set forth in paragraphs 9 or 10 above, or in Exhibit A, is determined by any court or agency of
competent jurisdiction to be illegal, invalid, or in any way ineffective as to any claim by Executive, other than a claim that a Releasee has violated the ADEA, Executive shall re-pay to the Company the full amount of the Special Severance Payment
and the 2015 Bonus (including forfeiting any shares of Company common stock issued as a portion of the 2015 Bonus) previously provided to Executive, or for Executive’s benefit. This Agreement may be modified or amended only in a writing signed
by both parties. 
 In witness whereof, the parties have duly executed this Agreement as of the respective dates below set forth. 

 

							
	MATTHEW KOHNKE
			
	 /s/ Matthew Kohnke
	  		  	 /s/ Michael Ginnetti

	Executive	  		  	Witness
			
		  		  	
		  		  	  
 Print Witness Name

	 February 4, 2016
	  		  	 February 4, 2016

	Date	  		  	Date
		
	DORMAN PRODUCTS, INC.	  	
				
	By:	 	 /s/ Thomas J. Knoblauch
	  		  	 February 4, 2016

	Name:	 	Thomas J. Knoblauch	  		  	Date
	Title:	 	Vice President, General Counsel	  		  	

  
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 EXHIBIT A 

Re: Transition, Separation & General Release Agreement 

for Matthew Kohnke 

Waiver and Release of All Claims 

In accordance with the Transition, Separation & General Release Agreement entered into by and between the Company and Executive dated
as of             , 2016 (the “Agreement”), and in consideration of the payments to be made and benefits to be provided by the Company to Executive thereunder: 

(a) Executive fully, finally, and forever waives and releases any and all claims that Executive has or may have against the Company, its past,
present, and future parents, subsidiaries, affiliates, related companies, successors, assigns, shareholders, officers, directors, agents, representatives, employees and insurers, and all persons acting by, through, under or in concert with them, or
any of them (collectively, the “Releasees”), based on any claim or cause of action arising at any time prior to and including the date that Executive signs this waiver and release (Exhibit A). 

(b) Executive represents, warrants and covenants that Executive has not filed any complaints, charges or lawsuits against any Releasees.
Executive agrees further that Executive will terminate with prejudice any and all pending legal actions, complaints, suits or charges that Executive has made or instituted against any and all Releasees based on any claim, matter or thing arising at
any time prior to and including the date Executive signs this waiver and release (Exhibit A). 
 (c) Executive, on behalf of Executive and
his heirs, executors, estate, administrators and assigns, hereby unconditionally and generally releases and discharges Releasees, and each and every one of them, of and from all actions, causes of action in law or equity, claims, suits, debts,
liens, contracts, agreements, promises, liability, damages, loss or expense, and demands of any nature whatsoever, known or unknown, foreseen or unforeseen, fixed or contingent (hereinafter, collectively, “Claims”), which Executive has or
may have against Releasees, and/or any of them, arising at any time prior to and including the date Executive signs this waiver and release (Exhibit A); further including, without limitation, any and all Claims which relate directly or indirectly to
Executive’s employment with the Company and Executive’s separation from that employment; and further including, without limitation, Claims related to salary, bonuses, commissions, stock, stock options, or any other ownership or equity
interest in the Company, vacation pay, fringe benefits, expense reimbursements, severance pay, or any other form of compensation; and further including, without limitation, Claims, whether statutory, at common law or otherwise, for wrongful
termination of employment, retaliation (including whistleblower Claims), breach of contract, detrimental reliance, promissory estoppel, infliction of emotional distress, defamation, fraud, breach of covenant of good faith and fair dealing,
misrepresentation or any other tort, and Claims under the laws of the United States, the Commonwealth of Pennsylvania, or any other state; and further including, without limitation, Claims under 

  
 9 

 
the Family and Medical Leave Act, Employee Retirement Income Security Act, the Racketeer Influence and Corrupt Organizations Act, the Worker Adjustment and Retraining Notification Act, the
Sarbanes-Oxley Act, or qui tam claims under the False Claims Act, or Claims for discrimination based upon sex, race, age, national origin, religion, handicap, disability, or other protected status, or for retaliation, including, without limitation,
Claims based on Title VII of the United States Civil Rights Act of 1964, Section 1981 of U.S.C. Title 42, the Equal Pay Act, the United States Americans with Disabilities Act, the Genetic Information Nondiscrimination Act, the United States Age
Discrimination in Employment Act, the Pennsylvania Human Relations Act; and any Claims under any other law, local, state or federal, pertaining to employment or the relationship between employer and employee; provided, however, that this release and
waiver of Claims shall not apply to any rights or Claims that are not waivable as a matter of law. 
 (d) Executive represents, warrants and
covenants that Executive has not heretofore assigned or transferred, or purported to assign or transfer, to any person or entity, any Claims against any Releasee or any portion thereof or interest therein. 

(e) Executive acknowledges and agrees that, should any government agency or other third party pursue any actions or other Claims on
Executive’s behalf, Executive waives any right to recovery, relief, or monetary award from such actions or proceedings, except to the extent, if any, that such waiver is prohibited by law. 

(f) Executive waives any right to become, and promises not to become, a member of any class or collective action proceeding or case against
the Company or any Releasee based on any Claim that arises prior to the date Executive signs this waiver and release (Exhibit A). 
 (g)
This waiver and release of Claims shall not apply to Executive’s Claims for workers’ compensation or unemployment compensation benefits or to any legal action seeking to challenge the validity of, or to enforce, this waiver and release
(Exhibit A). 
 (h) Executive understands and agrees that nothing in this waiver and release (Exhibit A) is intended to, or shall, interfere
with or affect Executive’s right to participate or cooperate in any federal, state, or local administrative or government agency (such as the Equal Employment Opportunity Commission, Securities Exchange Commission, or National Labor Relations
Board) proceeding or investigation or to file a charge or claim with such an agency. Executive agrees that Executive shall not be entitled to any recovery, relief, or monetary award in connection with any such charge, claim, or proceeding,
regardless of who filed or initiated the charge, claim, or proceeding. 

  
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 Older Workers Benefit Protection Act 

The Company and Executive intend for this waiver and release (Exhibit A) to comply with the Older Workers’ Benefit Protection Action of
1990 (29 U.S.C. Section 626), as amended. Accordingly, Executive acknowledges and represents as follows: 
 (a) Executive waives any
rights or Claims he may have, including but not limited to those under the United States Age Discrimination in Employment Act (“ADEA”), knowingly and voluntarily and in exchange for the consideration of value to which Executive would not
otherwise have been entitled, as set forth in the Agreement. 
 (b) Executive has been advised by the Company to consult an attorney before
Executive signs this waiver and release (Exhibit A). 
 (c) Executive has been given a period of at least twenty-one (21) days within
which to consider this waiver and release (Exhibit A). Executive understands and acknowledges that, at his option alone, this waiver and release (Exhibit A) may be executed prior to the expiration of the twenty-one (21) day period. 

(d) Executive has been informed by the Company that Executive may revoke this waiver and release (Exhibit A) during a period of seven
(7) days after signing it by providing written notice of such revocation to Dorman Products, Inc. – Attention: Debby Hecker, 3400 East Walnut Street, Colmar, PA 18915, which is received prior to the end of the seven (7) day period and
that the waiver and release (Exhibit A) shall not become effective or enforceable until the revocation period has expired without Executive having exercised this right of revocation. 

(e) Executive has carefully read and fully understands all provisions of this waiver and release (Exhibit A), which includes a full release
and waiver by Executive of any and all claims. 
 (f) Executive has signed this waiver and release (Exhibit A) knowingly and voluntarily and
understands that Executive is not waiving or releasing any Claims that may arise after the date this waiver and release (Exhibit A) is executed. 
 Any
undefined terms used herein shall have the meaning set forth in the Agreement. 
  

					
	MATTHEW KOHNKE	 		  	
	  
	 		  	  

	Executive	 		  	Witness
			
		 		  	  

		 		  	Print Witness Name
			
	  
	 		  	  

	Date	 		  	Date

  
 11Exhibit 10.1

 

NINTH LEASE MODIFICATION AGREEMENT

 

Ninth Lease Modification Agreement made as of December 15, 2015, (this “Agreement”) by and between Moklam Enterprises, Inc., a New York corporation with an address at c/o Yuco Management, Inc., 200 Park Avenue, 11th Floor, New York, New York 10166 (hereinafter referred to as “Owner”), and Take-Two Interactive Software, Inc., a Delaware corporation with an address at 622 Broadway, New York, New York 10012 (hereinafter referred to as “Tenant”).

 

W I T N E S S E T H:

 

Whereas, Owner is the lessor and Tenant is the lessee under that certain lease agreement dated as of July 1, 2002, as amended by agreement dated July 1, 2002 (the “First Modification”), agreement dated as of November 15, 2002 (the “Second Modification”), agreement dated as of October 14, 2003 (the “Third Modification”), agreement dated as of May 11, 2004 (the “Fourth Modification”), agreement dated as of March 26, 2010 (the “Fifth Modification”), agreement dated as of January 18, 2012 (the “Sixth Modification”), agreement dated as of April 8, 2014 (the “Seventh Modification”) and agreement dated as of January 5, 2015 (the “Eighth Modification”) (such lease agreement, as modified by the First Modification, the Second Modification, the Third Modification, the Fourth Modification, the Fifth Modification, the Sixth Modification, the Seventh Modification and the Eighth Modification, is hereinafter referred to as the “Original Lease”) covering the entire third, fourth, fifth and sixth floors and the roof deck in the building known as 622 Broadway, New York, New York (the “Building”), having a term expiring on March 31, 2023; and

 

Whereas Owner and Tenant desire to further modify and supplement the Original Lease as set forth below, upon and subject to the terms and conditions hereinafter set forth.

 

Now, therefore, in consideration of the premises and the mutual covenants herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree to further modify and supplement the Original Lease as follows:

 

1.                                      Definition of Lease.  For purposes of this Agreement, the term “Lease” shall mean the Original Lease as amended by this Agreement, except as may otherwise be specifically indicated in this Agreement or as the context may otherwise require.

 

2.                                      Tenant Improvement Allowance.  The provisions of paragraph 5 of the Sixth Modification, which were amended and restated in their entirety in paragraph 3 of the Seventh Modification, and which were further amended pursuant to paragraph 3 of the Eighth Modification, are hereby further amended as follows:

 

(i) the Alterations Outside Completion Date is hereby changed to November 15, 2015;

 

(ii) the date of “October 10, 2014” appearing in Section 5.3 of the Sixth Modification, as amended and restated in paragraph 3 of the Seventh Modification, is hereby changed to December 10, 2015; and

 

1

 

(iii) the date of “April 10, 2015” appearing in Section 5.8 of the Sixth Modification, as amended and restated in paragraph 3 of the Seventh Modification, is hereby changed to September 10, 2016.

 

3.                                      Owner’s Building Improvement Work.

 

3.1.                            The provisions of Paragraph 5.1 of the Seventh Modification are hereby amended as follows:

 

(i)                                     the period of twelve (12) months referred to in the fourth (4th) sentence of Paragraph 5.1 (a) is hereby extended to fifteen (15) months;

 

(ii)                                  the last three sentences of Paragraph 5.1 (a) are hereby deleted and replaced with the following provisions:

 

“However, Owner will provide Tenant with at least fifteen (15) days’ advance notice of an eighty (80) consecutive business day construction period for the window replacement portion of Owner’s Building Improvement Work (such eighty (80) consecutive business day construction period is hereinafter referred to as the “Overall Window Construction Period”).  Access to the 4th and 5th floors of the Premises for the performance of such work shall be granted to Owner and Owner’s contractors for the initial forty (40) consecutive business day period of the Overall Window Construction Period (such initial forty (40) consecutive business day period is hereinafter referred to as the “First Window Construction Period”), and thereafter access to the 3rd and 6th floors of the Premises for the performance of such work shall be granted to Owner and Owner’s contractors for the immediately succeeding forty (40) consecutive business day period of the Overall Window Construction Period (such immediately succeeding forty (40) consecutive business day period is hereinafter referred to as (the “Second Window Construction Period”).  It is understood that the First Window Construction Period shall not overlap with the Second Window Construction Period, except to the extent expressly requested by Owner.  However, if the window replacement work on the 4th and 5th floors of the Premises shall be substantially completed prior to the expiration of the First Window Construction Period, then, at Owner’s election, the Second Window Construction Period shall be extended by the number of business days falling during the period commencing on the date of substantial completion of the window replacement work on the 4th and 5th floors of the Premises through the date of expiration of the First Window Construction Period, as shall be reasonably determined by

 

2

 

Owner.  Also, Exhibit A is hereby modified to reflect that one (1) window located on each floor of the Premises situated in the vicinity of the freight elevator shaft on the Crosby Street side of the Building [a total of four (4) windows] may not be replaced during the Overall Window Replacement Period and, accordingly, Owner shall have the right to replace such windows as part of Owner’s Building Improvement Work at any time during the period that Owner’s Building Improvement Work may be performed.  Additionally, if any of the windows which are to be installed or which shall be installed in connection with Owner’s Building Improvement Work are defective, shall be damaged, or shall otherwise require repair or replacement, Owner shall be permitted to perform any required repair or replacement work relating to such windows and shall be granted reasonably prompt access to the Premises for such purpose, notwithstanding that the forty (40) consecutive business day access period for the floor on which such window is located which is provided for in this Paragraph 5.1(a) shall have expired.  The Overall Window Construction Period, the First Window Construction Period and the Second Window Construction Period shall each be subject to extension due to occurrences of Tenant Delay and Force Majeure, and shall each also be subject to such extension as shall be reasonably necessary to compensate for changes to the scheduling of the performance of the window replacement portion of Owner’s Building Improvement Work which shall be made by Owner in order to accommodate requests by Tenant.”

 

(iii)                               the period of approximately sixteen (16) consecutive weeks referred to in Paragraph 5.1 (b) is hereby changed to approximately twenty (20) consecutive weeks;

 

(iv)                              the following provisions are hereby added at the end of Paragraph 5.1 (a):

 

“In connection with the performance of the window replacement portion of Owner’s Building Improvement Work, Owner and Owner’s contractors shall have reasonable access to all of the windows of the Premises through the interior of the Premises, and not later than the business day immediately preceding the date that the window replacement work is to be commenced on each floor of the Premises, Tenant shall arrange for all items of furniture, equipment and personal property situated within five (5) feet from the windows on such floor to be removed and relocated to a protected area during the entire period that the window replacement work on such floor shall be performed, except solely for the items of furniture,

 

3

 

 equipment and personal property set forth on Schedule A annexed to this Agreement, which items Owner and Tenant agree are not possible or are impracticable to be so removed or relocated.  All other items of furniture, equipment and personal property of Tenant in the remaining vicinity of the work area of the window replacement portion of Owner’s Building Improvement Work shall be adequately secured by Tenant, and Owner shall direct Owner’s contractor performing the window replacement portion of Owner’s Building Improvement Work to use commercially reasonable efforts to prevent damage to such remaining items of furniture, equipment and personal property by dust, debris, wind, rain and other weather conditions, and any other conditions arising out of the performance of Owner’s Building Improvement Work by utilizing customary construction procedures and practices, such as the use of plastic protective covering sheets.  Notwithstanding the foregoing, it shall be Tenant’s affirmative obligation to remove from each such office and other area of the Premises in which window replacement work is being performed, and to relocate to a protected area, during the entire period that such window replacement work is to be performed, all artwork and any valuable items of personal property, and neither Owner nor any of Owner’s contractors, agents or employees shall have any liability or responsibility whatsoever with respect to any loss or damage with respect to any such items.  Additionally, if Owner’s contractor shall remove any existing window in an office or other portion of the Premises as part of Owner’s Building Improvement Work on any working day, then Owner shall direct Owner’s contractor to install a replacement window by the end of such working day if such installation shall be reasonably possible; provided, however, that any adjustments, finishing work, repair or associated work, or clean-up, required after a window is replaced may be completed after the end of such working day but as promptly as reasonably possible.  Notwithstanding the foregoing, if a replacement window is not installed by the end of such working day, Owner shall direct Owner’s contractor to install protective plastic covering in the window opening at the conclusion of such working day until the window replacement work in such office or other portion of the Premises shall recommence; and

 

(v)                                 the following schedule is added as Schedule A to the Seventh Amendment:

 

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Schedule A

 

Items Not to be Removed and Relocated

 

	
Description of Item
    	
 
    	
Location of Item
    
	
Desk located directly against one window
    	
 
    	
6th Floor (Crosby   Street side)
    
	
Furniture located directly against windows
    	
 
    	
3rd Floor (Broadway side)
    

 

3.2.                            The provisions of Paragraph 5.4. of the Seventh Modification are hereby amended and restated in their entirety, as follows:

 

“Subject to the terms hereof, Tenant shall pay to Owner, by official bank check or wire transfer, the sum of nine hundred seventy-five thousand five hundred and 00/100 ($975,500.00) dollars, as a non-refundable contribution by Tenant towards the cost of Owner’s Building Improvement Work.  Such amount shall be payable as follows:

 

(a) on Owner’s Improvement Commencement Date, Tenant shall pay Owner the sum of five hundred fifty-three thousand and 00/100 ($553,000.00) dollars; and

 

(b) commencing on the date Owner shall achieve substantial completion of Owner’s Building Improvement Work, as such date shall be reasonably determined by Owner (“Owner’s Improvement Substantial Completion Date”), and on the date which shall be one (1) month thereafter for a total of two (2) such monthly payments, Tenant shall pay to Owner the sum of two hundred eleven thousand two hundred fifty and 00/100 ($211,250.00) dollars per month for a total of four hundred twenty-two thousand five hundred and 00/100 ($422,500.00) dollars.”

 

3.3.                            Owner and Tenant hereby acknowledge and confirm that, notwithstanding that Owner has performed some preliminary demolition and other work relating to Owner’s Building Improvement Work (as such term is defined in the Seventh Modification), Owner’s Improvement Commencement Date (as such term is defined in the Seventh Modification) has not yet occurred.  Owner shall give notice to Tenant of Owner’s Improvement Commencement Date, as shall be determined by Owner after all of the Municipal Approvals (as such term is defined in the Seventh Modification) have been received by Owner pursuant to the provisions of Section 5.1 of the Seventh Modification.  Prior to commencing Owner’s Building Improvement Work, Owner shall discuss with Tenant in good faith the determination of Owner’s Improvement Commencement Date.  However, it is understood that the determination of Owner’s Improvement Commencement Date shall be made solely by Owner in Owner’s sole and absolute discretion.  Further, it is understood that in no event shall Owner’s Building Improvement Work be required to be performed at any times or on any days other than during normal business hours 

 

5

 

on business days.  Owner shall endeavor to schedule the performance of Owner’s Building Improvement Work in such manner as to avoid excessive interference with Tenant’s work spaces in the Premises during business hours to the extent reasonably practicable without causing undue delay of, or disruption to, the performance of Owner’s Building Improvement Work, including, without limitation, evaluating in good faith the feasibility of performing certain portions of Owner’s Building Improvement Work during non-business hours (i.e., 5:00 pm on a business day until 9:00 a.m. on the next succeeding business day) and/or on non-business days.  Tenant shall compensate Owner for seventy-five (75%) percent of all increased actual and documented costs and expenses incurred by Owner arising out of or in connection with any such non-business hour or non-business day performance of any portion(s) of Owner’s Building Improvement Work, as shall be determined by Owner in good faith (including, without limitation, Owner’s overhead expenses calculated at a 1.5 multiple of Owner’s actual and documented, out-of-pocket overtime charges incurred for non-business hour and non-business day work performed by third parties, and at a 1.5 multiple of all other actual and documented, out-of-pocket costs incurred by Owner in connection with such overtime work, as per historical practice between Owner and Tenant).  All determinations as to the scheduling of Owner’s Building Improvement Work, including as to whether any such non-business hour and/or non-business day portion(s) of Owner’s Building Improvement Work shall be feasible, shall be made in good faith by Owner, in Owner’s sole and absolute discretion, based upon Owner’s discussions with Owner’s contractor and Tenant with regard thereto.

 

4.                                      Paragraph 6 of the Seventh Modification is hereby amended by the addition of the following at the end thereof:

 

“, as same may hereafter be amended.”

 

5.                                      Brokers.  Owner and Tenant each warrant and represents that there was no broker, finder or like agent instrumental in consummating this Agreement and that such party had no dealings, communications, conversations or prior negotiations with any brokers, finders or like agents concerning the modification of the Lease pursuant to this Agreement.  Each representing party covenants and agrees to pay, indemnify and hold the other party harmless from and against any and all claims for all brokerage commissions, fees or other compensation by any brokers claiming to have dealt with such representing party in connection with this Agreement or arising out of any conversations or negotiations had by such representing party with any brokers concerning the modification of the Lease pursuant to this Agreement, and for any and all costs, expenses (including, without limitation, reasonable attorneys’ fees, disbursements and court costs), liabilities and penalties incurred by the indemnified party in connection with or arising out of any such claims. The provisions of this section shall survive the expiration or earlier termination of the Lease.

 

6.                                      Negotiation and Execution.  It is specifically acknowledged by the parties that this Agreement is the result of substantive negotiations between the parties and that this Agreement has been executed and delivered by each of the parties upon the advice of independent legal counsel.  It is understood and agreed that all parties shall be deemed to have prepared this Agreement in order to avoid any negative inference that might be drawn against the preparer thereof.

 

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7.                                      Certain Definitions.   Each of the capitalized terms in this Agreement which are not otherwise defined herein shall have the meaning ascribed to such term in the Original Lease.

 

8.                                      Inducement to Owner and Tenant.   As a material inducement to each of Owner and Tenant to execute this Agreement, each party hereby acknowledges and represents to the other party that, to the best of the representing party’s actual knowledge, the other party is not in default of any of the terms, covenants, provisions, warranties, representations and conditions of the Original Lease through the date hereof and that there are no offsets or defenses thereto.

 

9.                                      Ratification.   Except as may be otherwise set forth in this Agreement, all of the terms and provisions of the Lease are hereby ratified and confirmed and shall remain unmodified and in full force and effect.  Additionally, the parties confirm and agree that the revocable license agreement between the parties dated September 11, 2006, as amended December 31, 2012, covering additional space in the Building, is unaffected by this Agreement and hereby is ratified and confirmed and shall remain unmodified and in full force and effect.

 

10.                               Successors and Assigns.   The covenants, agreements, terms, provisions and conditions contained in this Agreement shall bind and inure to the benefit of the parties hereto and their respective successors, legal representatives and permitted assigns, if any.

 

11.                               Waiver.   The failure of a party at any time to enforce any provision hereunder shall in no way affect the right of that party thereafter to enforce the same or any other provision of this Agreement; nor shall the waiver by a party of the breach of any provision hereof be taken or held to be a waiver of any subsequent breach of any such provision or as a waiver of any other provision hereof.

 

12.                               Modification.   This Agreement may not be modified orally, but only by an agreement in writing signed by the party against whom enforcement of any waiver, change, modification or discharge is sought.

 

13.                               Void or Unenforceable Provisions.   If any provision of this Agreement is found to be void or unenforceable by a court of competent jurisdiction, the remaining provisions of this Agreement shall nevertheless be binding upon the parties with the same force and effect as though the void or unenforceable part had been severed and deleted.

 

14.                               Inconsistent Provisions.   It is in the intent of the parties that this Agreement and the Original Lease are to be read and construed together, to the extent reasonably possible.  However, in the event of any conflict or inconsistency between the terms and provisions of this Agreement and the terms and provisions of the Original Lease, then the terms and provisions of this Agreement shall govern and be binding.

 

15.                               Captions.   The captions for each of the sections of this Agreement are inserted for convenience only and shall have no meaning or relevance to the construction or interpretation of this Agreement.

 

16.                               Conditions to Binding Agreement.   This Agreement shall not be binding upon Owner unless and until at least two originals hereof have been executed by Tenant and counter-executed

 

7

 

on behalf of Owner and at least one of such originals shall have been returned to Tenant or Tenant’s attorneys.

 

In witness whereof, the parties hereto have executed this Agreement as of the day and year first above written.

 

	
Witness:
    	
 
    	
Moklam   Enterprises, Inc.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/ Raymond H. Yu
    
	
 
    	
 
    	
 
    	
Name:   
    	
Raymond   H. Yu
    
	
 
    	
 
    	
 
    	
Title:
    	
President
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Take-Two   Interactive Software, Inc.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
/s/ Aaron Diamond
    	
 
    	
By:
    	
/s/ Daniel Emerson
    
	
 
    	
 
    	
 
    	
Name:
    	
Daniel Emerson
    
	
 
    	
 
    	
 
    	
Title:
    	
EVP + GC
    

 

8

 

State of New York    )

 : ss.

County of New York)

 

On the 18th day of December in the year 2015, before me, the undersigned, a Notary Public in and for said State, personally appeared Raymond H. Yu,  personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his capacity, and that by his signature on the instrument, the individual, or the person upon behalf of which the individual acted, executed the instrument.

 

 

	
/s/   Yung Wen Huang
    	
 
    
	
Signature   and Office of individual
    	
 
    
	
taking   acknowledgment
    	
 
    

 

 

State of New York    )

 : ss.

County of New York)

 

On the 18th day of December in the year 2015, before me, the undersigned, a Notary Public in and for said State, personally appeared Daniel Emerson, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his capacity(ies), and that by his signature on the instrument, the individual, or the person upon behalf of which the individual acted, executed the instrument.

 

 

	
/s/ Christopher   Hamilton
    	
 
    
	
Signature   and Office of individual
    	
 
    
	
taking   acknowledgment
    	
 
    

 

9

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