Document:

london_lease-areement.htm

    Exhibit
10.22

     

    NOKIA
UK LIMITED

     Landlord

    

    

    and

    

    

    FOCUS
INFORMATION LIMITED

    Tenant

    

    

    and

    

    

    COSTAR
GROUP, INC

    Guarantor

    

    

     Agreement
for Lease

     in
respect of

     First
Floor Offices  10 Great Pulteney Street, London W1

     

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    PARTICULARS

    

    
      	
              Date:

            	
              23
      NOVEMBER 2007

              
              

            
	
              Landlord:

            	
              NOKIA UK LIMITED
      (Company number 2212202) whose registered office is at Lancaster House,
      Lancaster Way, Ermine Business Park, Huntingdon, Cambridgeshire PE29
      6YJ

               

            

    

    
      	
              Tenant:

            	
              FOCUS INFORMATION
      LIMITED (Company Registration Number 1789170) whose registered
      office is at 3RD Floor Portman House, Portman Street, London W1H
      6EB

               

            
	
              Guarantor:

            	
              COSTAR GROUP, INC (a
      company registered in Delaware, U.S.A. under company file number 2854191)
      whose registered office is c/o Corporation Service Company, 2711
      Centerville

               Road,
      Suite 400, Wilmington, County of New Castle, Delaware 19808
      U.S.A.

              
              

            
	
              Premises:

            	
              The
      premises to be let by the Lease and known as First Floor Offices, 10 Great
      Pulteney Street, London W1 which are more particularly described in the
      Lease.

              
              

            
	
              Title
      Number:

            	
              NGL
      884980

              
              

            
	
              Completion
      Date:

            	
              The
      date two (2) working days after the first date on which all of the
      Conditions have been satisfied or at the Tenant's sole discretion the date
      two (2) working days after the date of the Superior Landlord's Lease
      Consent where the Superior Landlord's Works Consent is not issued
      simultaneously with the Superior Landlord's Lease Consent.

              
              

            
	
              Long
      Stop Date:

            	
              18
      January 2008 subject at the Tenant's election to extension until 14 March
      2008

              
              

            
	
              Conditions:

            	
              The
      condition set out in Schedule 3 (Superior Landlords'
      Consent).

              
              

            
	
              Contract
      Rate:

            	
              4%
      per annum above the National Westminster Bank Plc base rate from time to
      time in force as well after as before judgment which rate shall also be
      the contract rate
      referred to in the Standard Conditions.

              
              

            
	
              Lease:

            	
              The
      lease of the Premises in the form at Annexure A to be granted by the
      Landlord to the Tenant and the Guarantor pursuant to this
      Agreement.

              
              

            
	
              Agreed
      Term:

            	
              A
      term of years commencing on the Term Commencement Date and expiring on 19
      June 2021.

              
              

            
	
              Term
      Commencement Date:

            	
              The
      Completion Date.

              
              

            
	
              Rent:

            	
              Four
      Hundred and Forty Two Thousand Eight Hundred and Forty Eight Pounds
      £442,848 per annum subject to any increase in accordance with the rent
      review provisions of the Lease.

              
              

            
	
              Rent
      Commencement Date:

            	
              The
      date that is ten 10 months from and including the earlier of (i) the
      Completion Date and (ii) the date of this Agreement.

              
              

            
	
              Review
      Dates:

            	
              24
      June 2010, 24 June 2015 and 24 June 2020.

              
              

            
	
              Landlord's
      Solicitor:

            	
              Clyde
      & Co LLP of Beaufort House, Chertsey Street, Guildford, Surrey GU1 4HA
      fax number 01483 567330 (ref: LMM/ATS/0707864) or such other firm as the
      Landlord may nominate by Notice to the Tenant or the Tenant's Solicitor
      for the purposes of this Agreement.

              
              

            
	
              Tenant's
      Solicitor:

            	
              Gibson
      Dunn & Crutcher LLP of Telephone House, 2-4 Temple Avenue, London EC4Y
      0HB fax number 020 7071 4244 (ref: AAS/TW/19486/20) or such other firm as
      the Tenant may nominate by Notice to the Landlord or the Landlord's
      Solicitor for the purposes of this Agreement.

              
              

            

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    
      
        Table
of Contents

         

        
          	
                  1

                	
                         DEFINITIONS
      AND INTERPRETATION                                                                                 1

                

        

         

        
          	
                  1.1

                	                 
      Definitions 	
                  1

                

        

        
          	
                  1.2

                	         
      Interpretation	
                  2           

                

        

        
          	
                  1.3

                	                 
      Other	
                  2         

                

        

        
          	
                  1.4

                	                 
      Standard Commercial Property Conditions 	
                  3

                

        

        
          	
                  1.5

                	                 
      Incorporation of Schedules	
                  3

                

        

         

        
          	
                  2

                	
                         CONDITIONALITY                                                                                                      4

                

        

         

        
          
            	
                    2.1

                  	                 
      Conditions 	
                    4

                  

          

          
            	
                    2.2

                  	         
      Satisfaction of the Conditions 	
                    4           

                  

          

          
            	
                    2.3

                  	                 
      Notification	
                    4         

                  

          

          
            	
                    2.4

                  	                 
      Conditions not satisfied 	
                    4

                  

          

          
          

        

         

        
          	
                  3

                	
                         PAYMENTS AND
      INDEMNITY                                                                                                                                                         
      4                            

                

        

         

        
          
            	
                    3.1

                  	                 
      Payments 	
                    4

                  

          

          
            	
                    3.2

                  	         
      Indemnity 	
                    4          

                  

          

          
            	
                    3.3

                  	                 
      Interest	
                    4         

                  

          

          
            	
                    3.4

                  	                 
      Payment of VAT and VAT Invoice 	
                    5

                  

          

          
          

        

         

        
          	
                  4

                	
                         GRANT OF
      LEASE                                                                                                                                                                                                                                                                                      
      5

                

        

         

        
          
            	
                    4.1

                  	                 
      Grant of Lease  	
                    5

                  

          

          
            	
                    4.2

                  	         
      Matters to be inserted into the Lease 	
                    5           

                  

          

          
            	
                    4.3

                  	                 
      Possession	
                    5         

                  

          

          
          

          
          

        

         

        
          	
                  5

                	
                         TITLE                                                                                                                                                                                                                                                                                                              
      5

                

        

         

        
          
            	
                    5.1

                  	                 
      Proof of title 	
                    5

                  

          

          
            	
                    5.2

                  	         
      Title guarantee 	
                    6           

                  

          

          
            	
                    5.3

                  	                 
      Matters affecting the Premises to be let 	
                    6         

                  

          

          
            	
                    5.4

                  	                 
      Acknowledgements and requisitions 	
                    6

                  

          

          
            	
                    5.5

                  	                 
      Use 	
                    7

                  

          

        

         

        
          	
                  6

                	
                         INSURANCE AND
      RISK                                                                                                                                                                                                                                                                            
      7

                

        

         

        
          	
                  6.1

                	                 
      Damage to Premises between exchange and completion  	
                  7

                

        

         

        
          	
                  7

                	
                         COMPLETION                                                                                                                                                                                                                                                                                             
      7

                

        

         

        
          
            	
                    7.1

                  	                 
      Time for completion	
                    7

                  

          

          
            	
                    7.2

                  	         
      Landlord's contribution	
                    7           

                  

          

          
            	
                    7.3

                  	                 
      Documents to be delivered on completion	
                    7         

                  

          

          
          

          
          

        

         

        
          	
                  8

                	
                         REGISTRATION
      MATTERS                                                                                                                                                                                                                                                                     
      8

                

        

         

        
          
            	
                    8.1

                  	                 
      Registration of Lease  	
                    8

                  

          

          
            	
                    8.2

                  	         
      Protecting this Agreement	
                    8           

                  

          

          
          

          
          

          
          

        

         

        
          	
                  9

                	
                        
      GUARANTOR
      COVENANTS                                                                                                                                                                                                                                                    
      8

                

        

         

        
          	
                  10

                	
                        
      TERMINATION                                                                                                                                                                                                                                                                                            
      8

                

        

         

        
          
            	
                    10.1

                  	                 
      Terminating events 	
                    8

                  

          

          
            	
                    10.2

                  	         
      Consequences of termination	
                    8           

                  

          

          
          

          
          

          
          

        

         

        
          
            
            

          

          
            i

            
              

            

          

          
            
            

          

        

         

        
          	
                  11

                	
                        
      GENERAL                                                                                                                                                                                                                                                                                                      
      9

                

        

         

        
          
            	
                    11.1

                  	                 
      Variation and waiver  	
                    9

                  

          

          
            	
                    11.2

                  	         
      Announcements	
                    9           

                  

          

          
            	
                    11.3

                  	                 
      Assignment	
                    9         

                  

          

          
            	
                    11.4

                  	                 
      Third Party Rights 	
                    9

                  

          

          
            	
                    11.5

                  	                 
      Survival	
                    9

                  

          

        

        
        

        

          
            	
                    11.6

                  	         
      Joint and several liability 	
                    10           

                  

          

          
            	
                    11.7

                  	                 
      Entire Agreement 	
                    10         

                  

          

          
            	
                    11.8

                  	                 
      Notices	
                    10

                  

          

          
            	
                    11.9

                  	                 
      Counterparts and duplicates 	
                    10

                  

          

          
            	
                    11.10

                  	                 
      Governing Law and Jurisdiction	
                    11

                  

          

        

         

        
          	
                  12

                	
                          OPINION
      LETTER                                                                                                                                                                                                                                                                                      
      11

                

        

         

        
          	
                  SCHEDULE
      1

                	
                                                                                                                                                                                                                                                                                                                             12

                

        

         

        
          	
                  Encumbrances

                	                 	
                  12

                

        

         

        
          	
                  SCHEDULE
      2

                	
                                                                                                                                                                                                                                                                                                                             
      12

                

        

              

          	
                  Guarantor
      Covenants 

                	                 	
                  13

                

        

        
        

         

        
          	
                  SCHEDULE
      3

                	
                                                                                                                                                                                                                                                                                                                             
      15

                

        

         

        
          	
                  Condition: Superior Landlords'
      Consent 

                	                   	
                  15

                

        

         

        
          	
                  SCHEDULE
      4

                	
                                                                                                                                                                                                                                                                                                                             
      18

                

        

         

        
          	
                  Tenant's Access prior to Actual
      Completion 

                	                 
      	
                  18

                

        

         

        
          	
                  SCHEDULE
      5

                	
                                                                                                                                                                                                                                                                                                                            
      20

                

        

         

        
          	
                  Tenant’s Works
      Schedule

                	                	
                  20

                

        

         

        
          	
                  SCHEDULE
      6

                	
                                                                                                                                                                                                                                                                                                                          25

                

        

         

        
          	
                  Exclusion of Sections 24-28 of
      the 1954 Act

                	                 
      	
                  25

                

        

         

        
          	
                  ANNEXURES 

                	
                                                                                                                                                                                                                                                                                                                             
      27

                

        

         

         

        
          
             

          

          
            ii 

            
              

            

          

          
             

          

        

    

    This Agreement is dated and
made between the parties specified in the Particulars.

    

    It
is agreed as follows:

     

    
      	
              1  

            	
              Definitions
      and interpretation

            

    

     

     

    
      	
              1.1  

            	
              Definitions

            

    

     

    In this
Agreement, unless the context otherwise requires, the following definitions
apply:

     

    
      	
               

            	
              Account means the
      Landlord's Solicitor's client account number 13569732 at National
      Westminster Bank Plc, City of London Office, PO Box 12258, 1 Princes
      Street, London EC2R 8PA (sort code 60-00-01) or such other client account
      of the Landlord's Solicitor in England and Wales as the Landlord's
      Solicitor may specify. 

            

    

     

    Act of Insolvency means any of
the following:

     

    
      	
              (a)  

            	
              in
      relation to a company, any action is taken in relation to or with a view
      to:

            

    

     

    
      	
              (i)  

            	
              appointing
      any type of liquidator, receiver, manager or trustee or an administrator,
      judicial custodian or similar officer in respect of the company or its
      assets and/or undertaking;

            

    

     

    
      	
              (ii)  

            	
              the
      winding up, liquidation (otherwise than as part of a genuine solvent
      reconstruction or amalgamation), administration, dissolution, or
      reorganisation of the company;

            

    

     

    
      	
              (b)  

            	
              in
      relation to any person (whether an individual or a
    company):

            

    

     

    
      	
              (i)  

            	
              it
      is or admits to be unable to pay its debts or to be
    insolvent;

            

    

     

    
      	
              (ii)  

            	
              the
      value of its assets is less than its liabilities (taking account of
      contingent and prospective
liabilities);

            

    

     

    
      	
              (iii)  

            	
              it
      suspends making payments on any of its debts or announces an intention to
      do so or it commences negotiations with any of its creditors with a view
      to rescheduling any of its indebtedness or the person proposes any form of
      arrangement with any of its
creditors;

            

    

     

    
      	
              (iv)  

            	
              any
      distress or execution being levied on any of the person's
      assets;

            

    

     

    
      	
              (v)  

            	
              the
      person ceases to exist for any reason;
or

            

    

     

    
      	
              (c)  

            	
              any
      analogous proceedings or step is taken in any
  jurisdiction

            

    

     

    and in
this definition action
means any action whatsoever including any legal proceedings or other procedure
or convening a meeting for the purpose of considering or seeking to effect any
of the events listed.

     

    Actual Completion means actual
completion of the Lease under this Agreement and Actual Completion Date shall
be interpreted accordingly.

     

    Authority means any statutory,
public, local or other competent authority or a court of competent
jurisdiction.

     

    Encumbrances means the
encumbrances and matters affecting the Premises (to the extent that such are
still subsisting and capable of being enforced) mentioned, contained or referred
to in the documents listed in Schedule 1.

     

    Enquiry Replies means any
written replies made by the Landlord's Solicitor in reply to written questions
or enquiries made by the Tenant's Solicitor.

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    Landlord's Surveyor means a
competent and qualified surveyor appointed by the Landlord;

     

    Legislation means statute,
statutory instrument, statutory guidance, treaty, regulation, directive, by-law,
code of practice, guidance note, circular and common law for the time being in
force.

     

    Notice means written notice
(including faxes but not email) given by a Party to any other Party in
accordance with Clause 11.8 (Notices).

     

    Particulars means the
particulars at the front of this Agreement.

     

    Party means a party to this
Agreement and Parties
means more than one Party.

     

    Planning Acts means
legislation relating to town and country planning.

     

    Standard Conditions means the
Standard Commercial Property Conditions (Second Edition) and any reference to a
Standard Condition shall
be construed accordingly and have the same meaning as the expression condition in the Standard
Commercial Conditions.

     

    Tenant's Solicitor's Account
means the Tenant's Solicitor's client premium account number 13662837 at
HSBC Bank Plc, 16 King Street, Covent Garden, London WC2E 8JF (sort code
40-04-09) or such other client account of the Tenant's Solicitor in England and
Wales as the Tenant's Solicitor may specify.

     

    Title Documentation means the
official copy register to the Title Number dated 28 August 2007
(13.54).

     

    VAT means value added tax as
provided for in the Value Added Taxes Act 1994 and any tax similar or equivalent
to value added tax or performing a similar fiscal function.

     

     

    
      	
              1.2  

            	
              Interpretation

            

    

     

    In this
Agreement (except where the context otherwise requires):

     

    
      	
              1.2.1  

            	
              any
      phrase introduced by the terms including, include, in particular or any
      similar expression shall be construed as being by way of illustration or
      emphasis only and shall not limit the generality of the preceding
      words;

            

    

     

    
      	
              1.2.2  

            	
              reference
      to Legislation is
      reference to it as it is in force for the time being taking account of any
      amendment, extension, re-enactment or replacement and includes any
      subordinate legislation (within the meaning of section 21(1) of the
      Interpretation Act 1978) for the time being made under
  it;

            

    

     

    
      	
              1.2.3  

            	
              any
      reference to a document being in the agreed form means
      a document in the form agreed by the Parties to it and annexed to this
      Agreement, with such alterations (if any) as may subsequently be agreed in
      writing by or on behalf of such
Parties;

            

    

     

    
      	
              1.2.4  

            	
              reference
      to liabilities are
      to all liabilities of any nature whatsoever including actual or contingent
      liabilities, claims, demands, actions, proceedings, damages, losses,
      penalties, costs, fees and expenses and liability shall be
      construed accordingly;

            

    

     

    
      	
              1.2.5  

            	
              references
      to Clauses and Schedules are to clauses of and schedules to this
      Agreement, and references to paragraphs are references to paragraphs of
      the Schedule in which the reference appears;
and

            

    

     

    
      	
              1.2.6  

            	
              the
      table of contents and clause headings are for ease of reference only and
      shall not affect the construction of this
  Agreement.

            

    

     

     

    
      	
              1.3  

            	
              Other

            

    

     

    
      	
              1.3.1  

            	
              Any
      references to this
      Agreement includes the Particulars and Schedules that form part of
      it and have effect as if set out in full in the body of this
      Agreement.

            

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    
      	
              1.3.2  

            	
              Landlord includes the
      Landlord's successors in title and any other person who is or becomes
      entitled to the reversion (whether immediate or not) expectant on the term
      to be created by the Lease.

            

    

     

    
      	
              1.3.3  

            	
              Tenant does not include the
      Tenant's successors in title.

            

    

     

    
      	
              1.3.4  

            	
              Guarantor means the
      person named as guarantor (if
      any) in the Particulars.

            

    

     

    
      	
              1.3.5  

            	
              The
      expression Solicitor in this
      Agreement shall have the same meaning as given to the expression conveyancer in the
      Standard Conditions

            

    

     

    
      	
              1.3.6  

            	
              The
      expressions contained in the Particulars have the meanings set opposite
      them in the Particulars.

            

    

     

    
      	
              1.3.7  

            	
              Any
      obligation on the Parties to do something includes an obligation to
      procure that it be done and any obligation not to do something includes an
      obligation not to suffer or permit such thing to be done and to take all
      necessary action to prevent the
same.

            

    

     

    
      	
              1.3.8  

            	
              The
      phrase termination of
      this Agreement includes termination pursuant to any of Clause 2 (Conditionality), Clause
      10 (Termination) or
      rescission of this Agreement at any time and for any
    reason.

            

    

     

     

    
      	
              1.4  

            	
              Standard
      Commercial Property Conditions

            

    

     

    
      	
              1.4.1  

            	
              Part
      1 of the Standard Conditions are incorporated in this Agreement, in so far
      as they:

            

    

     

    
      	
              (a)  

            	
              are
      applicable to the grant of a lease;

            

    

     

    
      	
              (b)  

            	
              are
      not inconsistent with the other clauses in this Agreement;
    and

            

    

     

    
      	
              (c)  

            	
              have
      not been modified or excluded by any of the other clauses in this
      Agreement

            

    

     

    
      	
              1.4.2  

            	
              Part
      2 of the Standard Conditions are not incorporated in this
      Agreement

            

    

     

    
      	
              1.4.3  

            	
              Standard
      Conditions 1.3.5(c), 1.3.6, 1.3.7(e), 1.4, 2.2, 2.3, 3.2.1, 3.3, 4, 5,
      6.1, 6.2, 6.3 6.4.2, 6.6.2, 7.1.1 to 7.1.4 (inclusive), 8.4, 9.3, 10.2.4
      10.3 and 11 do not apply to this
Agreement.

            

    

     

    
      	
              1.4.4  

            	
              Standard
      Condition 1.1.1(a)(ii) is varied by the deletion of the words 'at interest
      on seven days notice of withdrawal' and the substitution of the word
      'overnight' in their place.

            

    

     

    
      	
              1.4.5  

            	
              Standard
      Condition 8.1.2 is varied by replacing '2.00 p.m.' with '5.30
      p.m.'.

            

    

     

    
      	
              1.4.6  

            	
              Standard
      Condition 8.2 is varied by inserting 'in the City of London or Surrey'
      after the words 'some other place'.

            

    

     

    
      	
              1.4.7  

            	
              In
      the Standard Conditions reference
to:

            

    

     

    
      	
              (a)  

            	
              the contract shall be
      reference to this Agreement;

            

    

     

    
      	
              (b)  

            	
              landlord and tenant shall be to the
      Landlord and Tenant; and

            

    

     

    
      	
              (c)  

            	
              the property shall be to
      the Premises.

            

    

     

    
      	
              1.4.8  

            	
              The
      expression working
      day in this Agreement shall have the same meaning as in the
      Standard Commercial Conditions.

            

    

     

     

    
      	
              1.5  

            	
              Incorporation
      of Schedules

            

    

     

    The
provisions of the Schedules are to apply.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    
      	
              2  

            	
              Conditionality

            

    

     

     

    
      	
              2.1  

            	
              Conditions

            

    

     

    
      	
              2.1.1  

            	
              Completion
      of the Lease is conditional on the satisfaction of all of the
      Conditions.

            

    

     

    
      	
              2.1.2  

            	
              The
      Parties shall not do anything that might interfere with, obstruct or delay
      the satisfaction of all or any of the
  Conditions.

            

    

     

     

    
      	
              2.2  

            	
              Satisfaction
      of the Conditions

            

    

     

    The
rights and obligations of the Parties regarding the satisfaction of the
Conditions are set out in Schedule 3 (Superior Landlords'
Consent).

     

     

    
      	
              2.3  

            	
              Notification

            

    

     

    The
Parties shall keep each other fully informed of all material matters relating to
the satisfaction of the Conditions.

     

     

    
      	
              2.4  

            	
              Conditions
      not satisfied

            

    

     

    
      	
              2.4.1  

            	
              If
      the Conditions or any of them have not been satisfied at or before 5.30 pm
      on the Long Stop Date then either Party may serve Notice upon the other
      Party and upon service of such Notice, save to the extent provided in
      Clause 10.2 (Consequences of
      Termination), this Agreement shall
  terminate.

            

    

     

    
      	
              2.4.2  

            	
              No
      Notice may be served under Clause 2.4.1 (Conditions not
      satisfied):

            

    

     

    
      	
              (a)  

            	
              by
      any Party in breach of its obligations under this Agreement;
      or

            

    

     

    
      	
              (b)  

            	
              once
      all of the Conditions have been
satisfied.

            

    

     

     

    
      	
              3  

            	
              Payments
      and indemnity

            

    

     

     

    
      	
              3.1  

            	
              Payments

            

    

     

    
      	
              3.1.1  

            	
              All
      money payable by the Tenant by direct credit pursuant to this Agreement is
      to be paid to the Account.

            

    

     

    
      	
              3.1.2  

            	
              Unless
      this Agreement expressly provides otherwise, all amounts due from any
      Party under this Agreement shall be paid in full without any deduction or
      withholding other than as required by law and no Party shall be entitled
      to assert any credit, set-off or counterclaim against any other Party in
      order to justify withholding payment of any such amount in whole or in
      part.

            

    

     

     

    
      	
              3.2  

            	
              Indemnity

            

    

     

    The
Tenant shall indemnify and keep fully and effectively indemnified the Landlord
against all liability arising out of any breach, non-observance or
non-performance of the Tenant's obligations under this Agreement.

     

     

    
      	
              3.3  

            	
              Interest

            

    

     

    If any
Party defaults in the payment when due of any sum payable by it under this
Agreement (whether determined by agreement or pursuant to an order of a court or
otherwise) interest shall be payable by that Party on such sum from the date
when such payment is due until the date of actual payment in cleared funds (as
well after as before judgment) at the Contract Rate.  Such interest
shall accrue from day to day and shall be compounded quarterly.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    
      	
              3.4  

            	
              Payment
      of VAT and VAT Invoice

            

    

     

    
      	
              3.4.1  

            	
              An
      obligation to pay money includes an obligation to pay any VAT chargeable
      in respect of that payment on receipt of a valid VAT
    invoice.

            

    

     

    
      	
              3.4.2  

            	
              All
      sums made payable by this Agreement are exclusive of
  VAT.

            

    

     

    
      	
              3.4.3  

            	
              The
      relevant Party shall issue a VAT invoice in respect of any VAT payable
      under this Agreement containing the information prescribed by law and
      within such time as may be required by
law.

            

    

     

    
      	
              3.4.4  

            	
              Where
      the Tenant is required to pay, refund or reimburse the Landlord and/or any
      superior landlord for the costs of any supplies made to them, the Tenant
      shall also indemnify the Landlord and/or any Superior Landlord against all
      liability to VAT in respect of such
supply.

            

    

     

     

    
      	
              4  

            	
              Grant
      of Lease

            

    

     

     

    
      	
              4.1  

            	
              Grant
      of Lease

            

    

     

    
      	
              4.1.1  

            	
              In
      consideration of the Tenant's obligations under this Agreement the
      Landlord shall grant and the Tenant shall take the Lease on the Completion
      Date for the Agreed Term at the Rent which shall commence to be payable on
      the Rent Commencement Date.  No purchase price or deposit is
      payable.

            

    

     

    
      	
              4.1.2  

            	
              The
      Tenant cannot require the Landlord to grant the Lease to any person other
      than the Tenant.

            

    

     

     

    
      	
              4.2  

            	
              Matters
      to be inserted into the Lease

            

    

     

    The
following matters shall be inserted in the Lease:

     

    
      	
              4.2.1  

            	
              The
      review dates specified in clause 7 of the Lease shall be the Review Dates
      specified in this Agreement;

            

    

     

    
      	
              4.2.2  

            	
              The
      date specified in clause 1.1 of the Lease shall be the Term Commencement
      Date specified in this Agreement;
and

            

    

     

    
      	
              4.2.3  

            	
              The
      date specified in clause 1.1 of the Lease shall be the Rent Commencement
      Date specified in this Agreement;

            

    

     

     

    
      	
              4.3  

            	
              Possession

            

    

     

    The
Premises are let with vacant possession on Completion subject to the provisions
of this Agreement.

     

     

    
      	
              5  

            	
              Title

            

    

     

     

    
      	
              5.1  

            	
              Proof
      of title

            

    

     

    
      	
              5.1.1  

            	
              The
      Landlord's title to the Property is registered at the Land Registry under
      the Title Number and comprises an official copy of the registers of the
      title to the Property and the title
plan.

            

    

     

    
      	
              5.1.2  

            	
              Title
      to the Premises and any rights granted by the Lease has been deduced to
      the Tenant's Solicitor before the date of this
  Agreement.

            

    

     

    
      	
              5.1.3  

            	
              The
      Tenant shall take the Lease with full knowledge of the title to the
      Premises as set out in:

            

    

     

    
      	
              (a)  

            	
              the
      Title Documentation;  and

            

    

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    
      	
              (b)  

            	
              Clause
      5.3.1 (Matters affecting the premises
      to be let) (including all matters arising in connection with the
      Planning Acts);

            

    

     

    and,
subject to Clause 5.4.3, no enquiry, requisition, objection or claim shall be
raised by the Tenant.

     

     

    
      	
              5.2  

            	
              Title
      guarantee

            

    

     

    The
Landlord shall grant the Lease with the title guarantee referred to in the Lease
(if any).

     

     

    
      	
              5.3  

            	
              Matters
      affecting the Premises to be let

            

    

     

    
      	
              5.3.1  

            	
              In
      addition to the matters listed in Standard Condition 3.1.2 the Premises
      are let subject to and where applicable with the benefit of the
      Encumbrances including all matters mentioned, contained or referred to in
      them.

            

    

     

    
      	
              5.3.2  

            	
              The
      following shall be added to the end of Standard Condition
      3.1.2:

            

    

     

    '(f)           
all outgoings, consents, easements and liabilities affecting the
Premises;

     

    
      	
              (g)  

            	
              any
      matters arising by virtue of any Legislation which have been disclosed to
      the Tenant;

            

    

     

    
      	
              (h)  

            	
              any
      unregistered interests falling within any of the paragraphs of schedule 1
      or schedule 3 of the Land Registration Act 2002 and any interests falling
      within section 11(4)(c) of that Act;
and

            

    

     

    
      	
              (i)  

            	
              such
      unregistered interests as may affect the Premises to the extent and for so
      long as they are preserved by the transitional provisions of schedule 12
      of the Land Registration Act 2002.'

            

    

     

     

    
      	
              5.4  

            	
              Acknowledgements
      and requisitions

            

    

     

    
      	
              5.4.1  

            	
              The
      Tenant and the Guarantor confirm that they
have:

            

    

     

    
      	
              (a)  

            	
              been
      provided with all information necessary to assess the state and condition
      of the Premises;

            

    

     

    
      	
              (b)  

            	
              had
      full opportunity to enter the Premises to conduct such surveys and
      investigations as the Tenant and the Guarantor wished;
  and

            

    

     

    
      	
              (c)  

            	
              formed
      their own view as to the condition and suitability of the Premises for the
      Tenant's purposes.

            

    

     

    
      	
              5.4.2  

            	
              Subject
      to Clause 5.4.3 the Tenant shall not raise any enquiry, requisition or
      claim nor refuse to complete in respect
of:

            

    

     

    
      	
              (a)  

            	
              any
      of the matters referred to in Standard Condition 3.1.2 or Clause 5.3.1 (Matters affecting the premises
      to be let); or

            

    

     

    
      	
              (b)  

            	
              the
      state of repair or condition of the Premises or the compliance or
      non-compliance of the Premises with any
  Legislation.

            

    

     

    
      	
              5.4.3  

            	
              Clauses
      5.1.3 (Proof of title) and 5.4.2 (Acknowledgements and
      requisitions) shall not prevent the Tenant and/or the Tenant's
      Solicitor raising an enquiry or requisition of the Landlord and/or the
      Landlord's Solicitor in respect of matters not disclosed to the Tenant
      before the date of this Agreement which are revealed by final searches in
      respect of the Premises at the Land Registry or the Central Land Charges
      Registry and the Landlord is to reply in writing within four working days
      to any requisition received from the
Tenant.

            

    

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    
      	
              5.5  

            	
              Use

            

    

     

    The
Landlord does not warrant that the Premises may lawfully be used for any purpose
authorised under the Lease.

     

     

    
      	
              6  

            	
              Insurance
      and risk

            

    

     

     

    
      	
              6.1  

            	
              Damage
      to Premises between exchange and
completion

            

    

     

    
      	
              6.1.1  

            	
              Damage
      to, destruction of, or deterioration in the condition
  of:

            

    

     

    
      	
              (a)  

            	
              the
      whole or any part of the Premises;
or

            

    

     

    
      	
              (b)  

            	
              access
      to the Premises; or

            

    

     

    
      	
              (c)  

            	
              any
      services to the Premises;

            

    

     

    where
caused by a risk that is at the time of such damage destruction or deterioration
covered by an insurance policy and the costs of carrying out all necessary works
of repair are recoverable under such insurance policy shall not entitle the
Tenant to refuse to complete or delay completion.

     

    
      	
              6.1.2  

            	
              From
      the date of this Agreement the Landlord shall observe and perform the
      insurance and reinstatement obligations in respect of the Property on the
      part of the Landlord contained in the Lease as if the Lease had been
      granted.

            

    

     

     

    
      	
              7  

            	
              Completion

            

    

     

     

    
      	
              7.1  

            	
              Time
      for completion

            

    

     

    Completion
of the Lease shall take place on the Completion Date when all apportionments and
other moneys due shall be paid by direct credit.

     

     

    
      	
              7.2  

            	
              Landlord's
      contribution

            

    

     

    Subject
to receipt of a valid VAT invoice addressed to the Landlord, on the date of this
Agreement the Landlord shall pay to the Tenant's Solicitor's Account as
contributions towards the costs of the Works:

     

    
      	
              (a)  

            	
              Five
      Thousand Five Hundred and Ten Pounds (£5,510) for installing floor boxes
      in the Premises; and

            

    

     

    
      	
              (b)  

            	
              Eighteen
      Thousand Three Hundred and Sixty Seven Pounds (£18,367) for carpeting the
      Premises.

            

    

     

     

    
      	
              7.3  

            	
              Documents
      to be delivered on completion

            

    

     

    
      	
              7.3.1  

            	
              On
      the Actual Completion Date, each Party shall deliver to the other’s
      Solicitor:

            

    

     

    
      	
              (a)  

            	
              a
      duly executed Lease or counterpart Lease (as the case may be);
      and

            

    

     

    
      	
              (b)  

            	
              duly
      executed duplicates or counterparts of other documents the Party is
      required to enter into on or before the Actual Completion Date pursuant to
      this Agreement.

            

    

     

    
      	
              7.3.2  

            	
              All
      money, bank drafts, documents, keys and other items delivered by any party
      through the post or document exchange in connection with this transaction
      and its completion shall be at the risk of any other
  party.

            

    

     

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    
      	
              8  

            	
              Registration
      matters

            

    

     

     

    
      	
              8.1  

            	
              Registration
      of Lease

            

    

     

    As soon
as reasonably practicable after Actual Completion the Tenant shall submit an
application to the Land Registry for the registration of the Lease and all
rights granted by it.  As soon as reasonably practicable after
completion of the registration, the Tenant shall provide to the Landlord
official copies with title plans of the registers showing the Tenant as
proprietor of the Lease.

     

     

    
      	
              8.2  

            	
              Protecting
      this Agreement

            

    

     

    The
Landlord agrees not to object to the registration of a unilateral notice against
the Title Number in respect of this Agreement.

     

     

    
      	
              9  

            	
              Guarantor
      Covenants

            

    

     

    Schedule 2 applies where a Guarantor has been named in the
Particulars 

     

     

    
      	
              10  

            	
              Termination

            

    

     

     

    
      	
              10.1  

            	
              Terminating
      events

            

    

     

    If:

     

    
      	
              10.1.1  

            	
              any
      Party commits any breach of the provisions of this Agreement and fails to
      remedy such breach within 5 working days after any other Party serves
      Notice on that Party specifying the
breach;

            

    

     

    
      	
              10.1.2  

            	
              there
      occurs in relation to any party an Act of
  Insolvency;

            

    

     

    then any
other Party may at any time after the occurrence of such event terminate this
Agreement by Notice to that Party and upon service of such Notice, save to the
extent provided in Clause 10.2 (Consequences of Termination),
this Agreement shall terminate.

     

     

    
      	
              10.2  

            	
              Consequences
      of termination

            

    

     

    
      	
              10.2.1  

            	
              Without
      prejudice to Standard Condition 9.2, the termination of this Agreement
      shall be without prejudice to any rights or liabilities of the Parties
      accrued at the date of termination or
  rescission.

            

    

     

    
      	
              10.2.2  

            	
              On
      termination of this Agreement, the Tenant
shall:

            

    

     

    
      	
              (a)  

            	
              return
      all Title Documentation supplied in respect of the
    Premises;

            

    

     

    
      	
              (b)  

            	
              immediately
      apply to cancel all registrations made by or on behalf of the Tenant to
      protect this Agreement and the Tenant's interest in the Premises and
      supply to the Landlord's Solicitor certified copies of all such
      applications;

            

    

     

    
      	
              (c)  

            	
              irrevocably
      appoint the Landlord as its agent to act at the Tenant's cost, in its name
      and on its behalf for the purposes of effecting or procuring such
      cancellations where the Tenant fails to comply within 14 days of
      termination with its obligations under Clause 10.2.2(b) (Consequences of
      Termination);

            

    

     

    
      	
              (d)  

            	
              (if
      in occupation of the Premises) immediately vacate the
      Premises;

            

    

     

    
      	
              (e)  

            	
              if
      and to the extent required by the Landlord, remove (at its own expense)
      any works carried out by or on behalf of the Tenant to the Premises or
      other property registered under the Title Number and reinstate the same to
      their state and condition as at the date of this Agreement. If the Tenant
      defaults in carrying out such works of removal and reinstatement within a
      reasonable period of time (having regard to the nature and extent of the
      works and to the Landlord's proposals for occupation or letting of the
      Premises) after service of Notice by the Landlord, the Landlord shall be
      entitled to carry out such works at the Tenant's expense and all costs so
      incurred shall be repaid by the Tenant forthwith upon demand;
      and

            

    

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    
      	
              (f)  

            	
              forthwith
      reimburse to the Landlord the sums paid by the Landlord pursuant to Clause
      7.2(Landlord's
      Contribution).

            

    

     

    
      	
              10.2.3  

            	
              This
      Clause and Clauses 1 (Definitions and
      Interpretation), 3 (Payments and Indemnity)
      9 (Guarantor Covenants)
      and Clause 11 (General) shall survive
      termination of this Agreement and shall continue to apply after the
      termination of this Agreement as shall any other Standard Condition or
      provision which by its nature is intended to survive termination or
      rescission.

            

    

     

     

    
      	
              11  

            	
              General

            

    

     

     

    
      	
              11.1  

            	
              Variation
      and waiver

            

    

     

    
      	
              11.1.1  

            	
              No
      modification or variation of the terms of this Agreement shall be
      effective unless it is in writing and signed by or on behalf of each of
      the Parties and is in a form that complies with the requirements of the
      Law of Property (Miscellaneous Provisions) Act
  1989.

            

    

     

    
      	
              11.1.2  

            	
              The
      rights of each Party under this
Agreement:

            

    

     

    
      	
              (a)  

            	
              may
      be exercised as often as necessary;

            

    

     

    
      	
              (b)  

            	
              are
      cumulative and not exclusive of its rights under the general law;
      and

            

    

     

    
      	
              (c)  

            	
              may
      be waived only in writing and
  specifically;  and

            

    

     

    delay in
exercising or non-exercise of any such right is not a waiver of that
right.

     

     

    
      	
              11.2  

            	
              Announcements

            

    

     

    Save as
may be required by law, none of the Parties shall make any statement or public
announcement to the media or any other third parties in connection with the
letting of the Premise or any matters referred to in this Agreement without
prior written consent of the other Parties.

     

     

    
      	
              11.3  

            	
              Assignment

            

    

     

    No Party
may (whether at law or in equity) assign, transfer, grant any security interest
over, hold on trust or deal in any other manner with the benefit of the whole or
any part of this Agreement nor sub-contract any or all of its obligations under
this Agreement nor purport to do any of the same.

     

     

    
      	
              11.4  

            	
              Third
      Party Rights

            

    

     

    A person
who is not a party to this Agreement has no right under the Contracts (Rights of
Third Parties) Act 1999 to enforce any term of this Agreement but this does not
affect any right or remedy of a third party which exists or is available apart
from that Act.

     

     

    
      	
              11.5  

            	
              Survival

            

    

     

    All
provisions of this Agreement shall continue in full force and effect
notwithstanding Actual Completion, except those provisions already performed at
completion.

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

     

    
      	
              11.6  

            	
              Joint
      and several liability

            

    

     

    
      	
              11.6.1  

            	
              Unless
      expressly provided otherwise, all representations, warranties,
      indemnities, undertakings, covenants, agreements and obligations made,
      given or entered into by more than one person in this Agreement are made,
      given or entered into jointly and
severally.

            

    

     

    
      	
              11.6.2  

            	
              Where
      the Tenant or the Guarantor is more than one person, the Landlord may
      release or compromise the liability of any of those persons under this
      Agreement, may take action against any one or more those persons or grant
      time or other indulgence without affecting the liability of any one of
      them.

            

    

     

     

    
      	
              11.7  

            	
              Entire
      Agreement

            

    

     

    
      	
              11.7.1  

            	
              This
      Agreement, together with any documents that the Parties are to enter into
      pursuant to it (together the Contractual Documents)
      constitutes the entire agreement and understanding between the Parties
      relating to its subject matter and supersedes any and all previous
      agreements, arrangements and/or understandings (whether written or oral)
      between the Parties relating to such subject
  matter.

            

    

     

    
      	
              11.7.2  

            	
              The
      Tenant and the Guarantor confirm that in entering into the Contractual
      Documents they do not rely on, and shall have no remedy in respect of, any
      statement, representation, warranty or understanding of any person
      (whether a party to a Contractual Document or not) other than as are
      expressly set out in the Contractual Documents or in Enquiry
      Replies.

            

    

     

    
      	
              11.7.3  

            	
              Nothing
      in this Clause shall operate to limit or exclude any liability for
      fraud.

            

    

     

     

    
      	
              11.8  

            	
              Notices

            

    

     

    
      	
              11.8.1  

            	
              Standard
      Condition 1.3 applies to this Agreement as
  amended.

            

    

     

    
      	
              11.8.2  

            	
              The
      words 'in the English language' shall be added to the end of Standard
      Condition 1.3.1.

            

    

     

    
      	
              11.8.3  

            	
              The
      words 'where delivery of the original document is not essential' shall be
      deleted from Standard Condition 1.3.3 and Standard Condition 1.3.3(b)
      shall be deleted and replaced by the words '(b) by hand or by pre-paid
      first class post or recorded delivery to the address given in the
      Particulars for the relevant Party or as otherwise notified by the
      relevant Party from time to time.'

            

    

     

    
      	
              11.8.4  

            	
              The
      words 'one hour after despatch' in Standard Condition 1.3.7(d) shall be
      deleted and replaced with the words 'when confirmation of its
      uninterrupted transmission has been recorded by the sender's fax
      machine'.

            

    

     

    
      	
              11.8.5  

            	
              No
      notice or other communication served on either the Landlord's Solicitor or
      the Tenant's Solicitor shall be valid unless it quotes the reference for
      the recipient Solicitor set out in the Particulars and in the case of a
      communication sent by fax, it is transmitted to the fax number for the
      recipient Solicitor given in the Particulars or such other reference or
      fax number as may have been notified in accordance with the provisions of
      this Clause.

            

    

     

    
      	
              11.8.6  

            	
              In
      Standard Condition 1.3, each occurrence of '4.00 pm' shall be replaced by
      '5.30 pm'.

            

    

     

     

    
      	
              11.9  

            	
              Counterparts
      and duplicates

            

    

     

    This
Agreement and (unless this Agreement expressly provides otherwise) any other
document to be entered into by the Parties pursuant to its terms may be executed
(at the Landlord's option) as duplicates or in any number of counterparts each
of which when executed shall be an original but all the counterparts shall
together constitute one and the same instrument.

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    
      	
              11.10  

            	
              Governing
      Law and Jurisdiction

            

    

     

    This
Agreement shall be governed by and construed in accordance with the laws of
England and each Party irrevocably agrees to submit to the exclusive
jurisdiction of the courts of England and Wales over any claim or matter arising
under or in connection with this Agreement.

     

     

    
      	
              12  

            	
              Opinion
      Letter

            

    

     

    Prior to
completion of the Lease the Guarantor shall deliver to the Landlord an opinion
in English dated not more than five working days before completion of the Lease
addressed to the Landlord from a reputable firm of lawyers in the jurisdiction
of incorporation of the Guarantor in substantially the form of the draft opinion
letter attached to this agreement as Annexure B.

     

    This Agreement has been
entered into by the Parties or their duly authorised representatives and is
executed and delivered as a deed by the Guarantor on the date set out in the
Particulars.

    

    Ref:  LMM/ATS/0707864

    
      
        
           

           

        

        
        

      

      
        11

        
          

        

      

      
        
        

      

    

    Schedule 1

     

    Encumbrances

     

    

    The
documents mentioned, contained or referred to in the property, proprietorship
and charges registers of the Title Number NGL572469.

    

    The
Superior Lease (as defined in Schedule 3 (Superior Landlords'
Consent)

    

    The Head
Lease (as defined in Schedule 3 (Superior Landlord's
Consent)

    

    

    
      
        
           

           

        

        
        

      

      
        12

        
          

        

      

      
        
        

      

    

    Schedule 2

     

    Guarantor
Covenants

     

    In
consideration of the Landlord entering into this Agreement at the Guarantor's
request, the Guarantor covenants with the Landlord as primary obligor and not
merely as guarantor, in the terms set out in this Schedule.

    

    
      	
              1.  

            	
              Guarantee
      and indemnity

            

    

     

    
      	
              1.1  

            	
              The
      Guarantor agrees with the Landlord that the Tenant shall comply with the
      Tenant's obligations under this Agreement (the Tenant's Obligations)
      and also as a separate obligation to indemnify the Landlord against all
      liability sustained by the Landlord arising out of or in connection with
      any default by the Tenant in complying with the Tenant's
      Obligations.

            

    

     

    
      	
              1.2  

            	
              Any
      sum payable by the Guarantor under this Agreement shall be paid on written
      demand and without deduction, set-off or counter
  claim.

            

    

     

    
      	
              2.  

            	
              Liability
      of Guarantor

            

    

     

    
      	
              2.1  

            	
              The
      Guarantor shall be jointly and severally liable with the Tenant for the
      fulfilment of the Tenant's
Obligations.

            

    

     

    
      	
              2.2  

            	
              The
      Guarantor agrees that the Landlord, in the enforcement of its rights under
      this Agreement, may proceed against the Guarantor as if the Guarantor were
      named as the Tenant in this Agreement and without first making demand of
      the Tenant or exercising any other rights or enforcing any other security
      that it may have in respect of the Tenant's
  Obligations.

            

    

     

    
      	
              2.3  

            	
              The
      liability of the Guarantor under this Agreement shall not be affected
      by:

            

    

     

    
      	
              (a)  

            	
              any
      Act of Insolvency of the Tenant;

            

    

     

    
      	
              (b)  

            	
              disclaimer
      of this Agreement by a liquidator or trustee in
  bankruptcy;

            

    

     

    
      	
              (c)  

            	
              any
      concession, time, indulgence or release given to the Tenant by the
      Landlord;

            

    

     

    
      	
              (d)  

            	
              any
      variation or rescission of this Agreement;
or

            

    

     

    
      	
              (e)  

            	
              other
      act, omission, or thing by which but for this provision the Guarantor
      would be released wholly or in
part.

            

    

     

    
      	
              3.  

            	
              Guarantor
      to enter into documents

            

    

     

    The
Guarantor shall at the request of the Landlord join in as a party to (and
consent to the terms of) any other document made supplemental or collateral to
this Agreement.

     

    
      	
              4.  

            	
              Guarantor
      not to claim in competition or take
security

            

    

     

    The
Guarantor shall not:

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

     

    
      	
              (a)  

            	
              claim
      any rights of subrogation against the Tenant or prove as creditor in
      competition with the Landlord in any proceedings in connection with an Act
      of Insolvency or arrangement of the Tenant in respect of any payment made
      by the Guarantor pursuant to this guarantee and indemnity and if the
      Guarantor receives any money in such proceedings or arrangement, it will
      hold that money on trust for the Landlord to the extent of its liability
      to the Landlord; or

            

    

     

    
      	
              (b)  

            	
              take
      any security or other right from the Tenant or be entitled to claim or
      participate in any security held by the Landlord in respect of the
      Tenant's Obligations.

            

    

     

    
      	
              5.  

            	
              Guarantor
      bound by proceedings

            

    

     

    If the
Landlord brings proceedings against the Tenant, the Guarantor shall be bound by
any findings of fact interim or final award or interlocutory or final judgment
made by an arbitrator or the court in those proceedings in so far as the same
relate to the subject matter of this Agreement.

     

     

    
      
        
           

           

        

        
        

      

      
        14

        
          

        

      

      
        
        

      

    

    Schedule 3

     

    Condition:
Superior Landlords' Consent

     

    
      	
              1.  

            	
              Definitions

            

    

     

    In this
Schedule the following definitions apply.

     

    Head Lease means a lease of
the demised premises dated 22 February 2001 made between (1) Winterdome Limited
and (2) Microsoft Limited and all or any deeds and documents which are or are
expressed to be supplemental thereto.

    

    Superior Landlord means the
person from time to time entitled to the reversion expectant on the
determination of the Superior Lease and includes (where the context admits) any
person or persons entitled to the reversion expectant on the determination of
any interest superior to the Superior Lease.

    

    Superior Landlords' Consent
means the Superior Landlords' Lease Consent and the Superior Landlords' Works
Consent.

    

    Superior Landlords' Lease Consent
means the written consent of the Superior Landlords to the grant of the
Lease (satisfying the requirement of the Superior Lease and the Head
Lease)

    

    Superior Landlords' Works
Consent means the written consent of the Superior Landlord to the
Tenant's Works (satisfying the requirements of the Superior Lease and the Head
Lease).

    

    Superior Lease means a lease
of the demised premises and other premises dated 25 June 2007 made between (1)
Microsoft Limited and (2) Nokia UK Limited

    

    
      	
              2.  

            	
              The
      Condition

            

    

     

    The
condition referred to in the Particulars and Clause 2 (Conditionality) of this
Agreement is the Landlord obtaining the Superior Landlords' Lease Consent and
the Superior Landlords' Works Consent or at the Tenant's sole discretion the
Landlord obtaining the Superior Landlords' Lease Consent.

     

    
      	
              3.  

            	
              Landlord's
      obligations

            

    

     

    
      	
              3.1  

            	
              The
      Landlord shall:

            

    

     

    
      	
              3.1.1  

            	
              immediately
      apply for and use all reasonable endeavours to obtain as quickly as
      possible the Superior Landlords'
Consent;

            

    

     

    
      	
              3.1.2  

            	
              promptly
      supply such information as shall reasonably be required of the Landlord by
      any Superior Landlord pursuant to and in accordance with the Superior
      Lease;

            

    

     

    
      	
              3.1.3  

            	
              promptly
      pay all proper and reasonable fees costs and expenses of every Superior
      Landlord and all other costs properly and reasonably incurred by the
      Superior Landlord for the Superior Landlords' Lease
    Consent;

            

    

     

    
      	
              3.1.4  

            	
              promptly
      respond to all correspondence and negotiate and agree all draft
      documentation relating to the application for the Superior Landlords'
      Consent;

            

    

     

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

     

    
      	
              3.1.5  

            	
              immediately
      observe and perform all other obligations covenants and conditions
      contained or referred to in the Superior Lease to the extent such
      observance and performance is necessary to obtain the Superior Landlords'
      Consent;

            

    

     

    
      	
              3.1.6  

            	
              properly
      execute the documents constituting the Superior Landlords' Consent (and
      any other documents required by the Superior Landlord in relation to the
      granting of the Superior Landlords' Consent) promptly after an engrossment
      in a form acceptable to the Landlord (acting properly and reasonably) has
      been submitted to the Landlord's
Solicitor;

            

    

     

    
      	
              3.1.7  

            	
              immediately
      give the Tenant Notice as soon as the Superior Landlords' Consent has been
      obtained.

            

    

     

    
      	
              4.  

            	
              Tenant's
      obligations

            

    

     

    
      	
              4.1  

            	
              General

            

    

     

    
      	
              4.1.1  

            	
              The
      Tenant and the Guarantor shall
promptly:

            

    

     

    
      	
              (a)  

            	
              supply
      all references and information reasonably required by the Superior
      Landlord pursuant to and in accordance with the Superior Lease in
      connection with the grant of Superior Landlords'
  Consent;

            

    

     

    
      	
              (b)  

            	
              respond
      to all correspondence and negotiate and agree all draft documentation
      relating to the application for the Superior Landlords' Consent and
      reasonably required by the Superior Landlord pursuant to and in accordance
      with the Superior Lease;

            

    

     

    
      	
              (c)  

            	
              comply
      with the Superior Landlords' requirements relating to the grant of the
      Superior Landlords' Consent pursuant to and in accordance with the
      Superior Lease;

            

    

     

    
      	
              (d)  

            	
              provide
      such guarantees and security for the performance of the Tenant's covenants
      contained in the Lease as the Tenant (acting reasonably) may agree;
      and

            

    

     

    
      	
              (e)  

            	
              give
      the Landlord Notice once the Superior Landlords' Consent has been obtained
      (should the Superior Landlords' Consent be sent to the Tenant (or the
      Tenant's Solicitor)).

            

    

     

    
      	
              4.1.2  

            	
              The
      Tenant and the Guarantor shall
also:

            

    

     

    
      	
              (a)  

            	
              properly
      execute or procure the execution of the documents in a form acceptable to
      the Tenant (acting properly and reasonably) constituting the Superior
      Landlords' Consent (and any other documents in a form acceptable to the
      Tenant (acting properly and reasonably) and required by the Landlord
      and/or the Superior Landlord in relation to the granting of the Superior
      Landlords' Consent) promptly after an engrossment has been submitted to
      the Tenant's Solicitor; and

            

    

     

    
      	
              (b)  

            	
              give
      such reasonable assistance as may be required to obtain the Superior
      Landlords' Consent (not including the payment of any fine or
      premium).

            

    

     

    
      	
              4.2  

            	
              Costs

            

    

     

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

    

     

    The
Tenant shall pay the reasonable and proper costs and disbursements of the
Superior Landlord in relation to the application for Superior Landlords' Works
Consent (whether or not this Agreement is completed).

     

    
      	
              4.3  

            	
              No
      objections

            

    

     

    
      	
              4.3.1  

            	
              The
      Parties may not object to the Superior Landlords' Consent being given
      subject to a condition:

            

    

     

    
      	
              (a)  

            	
              which
      under section 19(1A) of the Landlord and Tenant Act 1927 is regarded as
      reasonable; or

            

    

     

    
      	
              (b)  

            	
              which
      is lawfully imposed under an express term of the Superior
      Lease.

            

    

     

    
      	
              4.3.2  

            	
              If
      the Superior Landlord properly requires the agreed form Lease to be
      altered pursuant to and in accordance with the Superior Lease, such
      alterations shall with the prior written consent of the Tenant (which
      shall not be unreasonably withheld or delayed) be deemed to be alterations
      agreed in writing for the purposes of Clause 1.2.3.

            

    

     

    
      	
              4.4  

            	
              Proceedings

            

    

     

    Nothing
in this Agreement shall oblige the Landlord to take any proceedings against the
Superior Landlord in relation to either any delay in granting or refusal to
grant the Superior Landlords' Consent or otherwise.

     

    
      	
              4.5  

            	
              Guarantor

            

    

     

    Where a
guarantor is required to join in the Superior Landlords' Consent then references
to the Tenant in this Schedule shall where the context admits include references
to that guarantor.

     

    
      
        
           

           

        

        
        

      

      
        17

        
          

        

      

      
        
        

      

    

    Schedule 4

     

    Tenant's
Access prior to Actual Completion

     

    
      	
              1.  

            	
              Tenant's
      access prior to Actual Completion

            

    

     

    
      	
              1.1  

            	
              The
      Tenant shall (notwithstanding that Actual Completion has not occurred) be
      entitled to access the Premises as from the date of this Agreement upon
      the terms and conditions of this
Schedule.

            

    

     

    
      	
              1.2  

            	
              Access
      will be for the purpose only of carrying out the Works (as defined in Schedule 5) and occupying the Premises in accordance
      with the terms and conditions of this
Agreement.

            

    

     

    
      	
              2.  

            	
              No
      Lease

            

    

     

    
      	
              2.1  

            	
              Until
      the grant of the Lease, this Agreement shall not operate or be deemed to
      operate as a demise of the Premises nor shall the Tenant have or be
      entitled to any estate right title or interest in the Premises (other than
      the licence granted by this
Agreement).

            

    

     

    
      	
              2.2  

            	
              Without
      prejudice to Clause 11.2 (Assignment) the Tenant
      may not transfer or deal in any way with the licence created by this
      Agreement.

            

    

     

    
      	
              3.  

            	
              Tenant's
      Obligations

            

    

     

    The
Tenant shall:

     

    
      	
              (a)  

            	
              pay
      on demand to the Landlord for the period commencing on the date of this
      Agreement and ending on the day before the Completion Date, a daily
      licence fee in respect of the Tenant's occupation of the Premises at a
      rate equivalent to one 365th of the insurance rent and service charge and
      from the Rent Commencement Date one 365th of the annual rent reserved and
      any moneys paid pursuant to this paragraph shall upon completion of the
      Lease be set against any moneys that would otherwise be due under the
      Lease in respect of the same
period;

            

    

     

    
      	
              (b)  

            	
              fully
      indemnify the Landlord against all liability which may be suffered by the
      Landlord as a result of the grant of this
  licence;

            

    

     

    
      	
              (c)  

            	
              be
      responsible for all outgoings (including any gas, telephone, electricity,
      water or drainage charges or rates) which arise in relation to the
      Premises from and including the Access
Date;

            

    

     

    
      	
              (d)  

            	
              comply
      with any reasonable regulations made by the Landlord regarding the use and
      occupation of the Premises;

            

    

     

    
      	
              (e)  

            	
              not
      infringe any Legislation relating to the
  Premises;

            

    

     

    
      	
              (f)  

            	
              not
      infringe any matter relating to the title to the
  Premises;

            

    

     

    
      	
              (g)  

            	
              make
      good as soon as reasonably practicable any damage occasioned to the
      Premises and the Building as a result of the carrying out of the Works or
      the Tenant's Access to the Building (it being agreed that the Works
      themselves shall not be regarded as
damage).

            

    

     

    
      
        
        

      

      
        18

        
          

        

      

      
        
        

      

    

     

    
      	
              4.  

            	
              Tenant's
      risk

            

    

     

    
      	
              4.1  

            	
              The
      Tenant's entry on the Premises will be entirely at its own
      risk.

            

    

     

    
      	
              4.2  

            	
              Any
      equipment, tools, goods or items left by the Tenant or on the Tenant’s
      behalf at the Premises are so left entirely at the Tenant’s
      risk.

            

    

     

    
      	
              5.  

            	
              Termination

            

    

     

    The
licence created by this Schedule shall terminate on the earlier of the Actual
Completion Date and the termination of this Agreement.

     

    
      
        
           

           

        

        
        

      

      
        19

        
          

        

      

      
        
        

      

    

    Schedule 5

     

    Tenant’s
Works Schedule

     

    
      	
              1.  

            	
              Definitions
      and interpretation

            

    

     

    
      	
              1.1  

            	
              Definitions

            

    

     

    In this
Schedule the following definitions apply:

     

    Landlord’s Approval Date means
the date on which the details of the Works (supplied under paragraph 2.1) are
approved by the Landlord and the Superior Landlords.

     

    Licence to Alter means a
licence to alter in the form required by any Superior Landlord and approved by
the Tenant (acting reasonably) relating to the Works (or such of them as require
consent under the terms of the Lease) together with the
Specification.

     

    Specification means the plans,
drawings and specifications supplied to the Landlord pursuant to paragraph
2.1.

     

    Works means the fitting out
works to the Premises comprising the provision of such interior fittings and
equipment such fitting out works to be more particularly specified in the
Specification.

     

    Building means the property
known as 10 Great Pulteney Street, of which the Premises forms part, together
with any other adjoining or neighbouring premises of the Landlord.

    

    CDM Regulations means the
Construction (Design and Management) Regulations 2007.

    

    Deleterious Materials means
any materials or substances which in the particular circumstances in which they
are to be used fail to satisfy the relevant British Standard and the principles
of good building practice (including the essential requirements defined in the
Construction Products Regulations 1991).

    

    Insurers means the insurers
for the time being of the Building.

    

    Requisite Consents means all
licences, certificates and permits required for the execution and retention of
the Works including but not limited to any that may be required from any person
having an interest in the Building or any adjoining or neighbouring
premises.

    

    Specification means the plans,
drawings and specifications supplied to the Landlord pursuant to paragraph
2.1.

    

    Term has the meaning given in
the Lease.

    

    Works means the fitting out
works to the Premises comprising the provision of such interior fittings and
equipment such fitting out works to be more particularly specified in the
Specification.

     

    
      
        
        

      

      
        20

        
          

        

      

      
        
        

      

    

     

    
      	
              1.2  

            	
              Interpretation

            

    

     

    In
addition to the matters referred to at Clause 1 (Definitions and Interpretation)
of this Agreement, where reference is made to the satisfaction of the Landlord,
the Landlord may (but is not obliged to) consult its surveyor and any other
appointed representatives in determining the Landlord's
satisfaction.

    

    
      	
              2.  

            	
              Consent
      for Works

            

    

     

    
      	
              2.1  

            	
              The
      Tenant shall as soon as reasonably practicable following the date of this
      Agreement, submit to the Landlord for approval, details of the Works in
      triplicate (including such plans, drawings and other information in
      respect of the Works as the Landlord or any Superior Landlord reasonably
      and properly requires).

            

    

     

    
      	
              2.2  

            	
              The
      Tenant shall not commence the Works
until

            

    

     

    the
details supplied under paragraph 2.1 have been approved by the Landlord and the
Superior Landlord save that this need not require the Superior Landlords' Works
Consent to have been granted.

     

    
      	
              3.  

            	
              Before
      commencement of the Works

            

    

     

    The
Tenant agrees with the Landlord before commencing the Works:

    

    
      	
              3.1  

            	
              to
      obtain the Requisite Consents at its own
  expense;

            

    

     

    
      	
              3.2  

            	
              to
      give the Requisite Consents to the
Landlord;

            

    

     

    
      	
              3.3  

            	
              to
      give at least 5 working days prior Notice to the Landlord of the Tenant's
      intention to commence the Works;

            

    

     

    
      	
              3.4  

            	
              to
      give at least 5 working days prior Notice to the Insurers of the Tenant's
      intention to commence the Works, including a copy of the Specification;
      and

            

    

     

    
      	
              3.5  

            	
              to
      take out and maintain fully comprehensive public liability insurance in
      the sum of not less than £5,000,000 for any one occurrence or series of
      occurrences arising out of one event against liability to any person
      arising from or in connection with the Works, and to produce evidence to
      the Landlord of such insurance.

            

    

     

    

    
      	
              4.  

            	
              During
      the Works

            

    

     

    The
Tenant covenants with the Landlord, if the Works are begun:

    

    
      	
              4.1  

            	
              to
      carry out the Works in accordance with its obligations under this Schedule
      and with the Specification, at its own expense, in a good and workmanlike
      manner and using good, new and sound materials to the reasonable
      satisfaction of the Landlord's
Surveyor;

            

    

     

    
      	
              4.2  

            	
              to
      carry out the Works in a manner which does not cause any interruption to
      the business of the Landlord or any other person in the Building or any
      material nuisance, damage, inconvenience or annoyance to the Landlord or
      to any other person, and to make good any damage caused to the Building by
      the carrying out of the Works or access to the Building promptly and to
      the reasonable satisfaction of the Landlord's
  Surveyor;

            

    

     

    
      
         

      

      
        21

        
          

        

      

      
         

      

    

     

    
      	
              4.3  

            	
              to
      carry out the Works in compliance with the Requisite Consents and with the
      provisions of Legislation;

            

    

     

    
      	
              4.4  

            	
              to
      supply to the Landlord on demand all such documents, information and
      evidence as it may reasonably require so as to satisfy itself that the
      provisions of this Schedule have been complied
  with;

            

    

     

    
      	
              4.5  

            	
              if
      any Requisite Consent requires the execution of further works then to
      carry out such further works and complete them in their entirety before
      the end of the Term (whether or not such consent specifies a later date)
      and such further works shall be deemed to be part of the
      Works;

            

    

     

    
      	
              4.6  

            	
              not
      to use any Deleterious Materials in the
Works;

            

    

     

    
      	
              4.7  

            	
              to
      comply with all requirements of the Insurers in connection with the Works
      and to pay on demand any additional premium which may be payable to the
      Insurers in respect of the insurance of the Building as a result of the
      Works being carried out;

            

    

     

    
      	
              4.8  

            	
              not
      to leave, store or permit to be left or stored outside the Premises any
      builder's plant materials or
debris;

            

    

     

    
      	
              4.9  

            	
              during
      the carrying out of the Works not
to:

            

    

     

    
      	
              4.9.1  

            	
              damage,
      weaken or render unsafe the structure of the Building or its plant or
      machinery;

            

    

     

    
      	
              4.9.2  

            	
              infringe,
      interrupt or destroy any right, easement or
  privilege;

            

    

     

    
      	
              4.9.3  

            	
              interrupt
      any service to or from or within the Building or adjoining or neighbouring
      property; or

            

    

     

    
      	
              4.9.4  

            	
              vitiate
      the insurance of the Premises and/or the
  Building;

            

    

     

    
      	
              4.10  

            	
              to
      indemnify and keep the Landlord indemnified from and against all liability
      arising from the execution of the Works or the exercise or purported
      exercise of the rights granted by this Schedule and/or the breach of the
      Tenant's covenants or the other terms of this
  Schedule;

            

    

     

    
      	
              4.11  

            	
              on
      not less than forty eight (48) hours prior written notice to permit the
      Landlord and those authorised by the Landlord to enter the Premises to
      inspect the progress and completion of the Works and for any other purpose
      connected with this Schedule;

            

    

     

    
      	
              4.11.1  

            	
              to
      complete the Works in accordance with the obligations on the part of the
      Tenant set out in this Schedule within three months from the date of this
      Agreement;

            

    

     

    
      	
              4.11.2  

            	
              on
      completion of the Works to remove all debris and equipment from the
      Premises, to make good any damage caused to the Building by the execution
      of the Works and to clean the
Premises;

            

    

     

    
      	
              4.12  

            	
              to
      give Notice to the Landlord immediately upon completion of the
      Works;

            

    

     

    
      	
              4.13  

            	
              within
      seven days after completion of the Works to prepare and deliver to the
      Landlord three complete sets of drawings and specifications showing the
      Works as completed and a copy of any operational and maintenance manuals
      relating to the Works;

            

    

     

    
      
         

      

      
        22

        
          

        

      

      
         

      

    

     

    
      	
              4.14  

            	
              to
      grant (or procure the grant of) a royalty-free and irrevocable licence to
      copy and use the drawings specifications and operational and maintenance
      manuals referred to in paragraph 4.15 for any purpose connected with the
      Building, and such licence shall include the right to grant sub-licences
      and shall be assignable to third parties without
  consent;

            

    

     

    
      	
              4.15  

            	
              until
      completion of the same, keep the Works insured against the Insured Risks
      (as defined in the Lease); and

            

    

     

    
      	
              4.16  

            	
              immediately
      following completion of the Works, give Notice to the Landlord of the cost
      of the Works for insurance
purposes.

            

    

     

    

    
      	
              5.  

            	
              CDM
      Regulations

            

    

     

    
      	
              5.1  

            	
              This
      Clause applies to the extent that the CDM Regulations apply to the Works
      or to the carrying out of the
Works.

            

    

     

    
      	
              5.2  

            	
              The
      Tenant shall plan, carry out and complete all the Works in accordance with
      the CDM Regulations to the extent they apply to the
  Works.

            

    

     

    
      	
              5.3  

            	
              To
      the extent that the Landlord may be a client for the purposes of the CDM
      Regulations in relation to the Works or the carrying out of the Works, the
      Tenant elects to be the only client in respect of the Works for the
      purposes of the CDM Regulations and the Landlord agrees to such
      election.

            

    

     

    
      	
              5.4  

            	
              The
      Tenant must comply with its obligations as a client for the purposes of
      the CDM Regulations and must ensure that the CDM co-ordinator and the
      principal contractor that it appoints in relation to the Works comply with
      their respective obligations under the CDM Regulations. The Tenant must
      liaise with the CDM co-ordinator to allow the CDM co-ordinator to assist
      the Tenant in performing the Tenant’s duties as client under the CDM
      Regulations.

            

    

     

    
      	
              5.5  

            	
              At
      completion of the construction phase of the Works, in accordance with the
      CDM Regulations, the Tenant must ensure either that the CDM co-ordinator
      gives the Landlord all necessary documents relating to the Works that are
      required under the CDM Regulations to be kept in the health and safety
      file for the Premises or that the CDM co-ordinator updates the health and
      safety file for the Premises and, in either event, the Tenant must comply
      with its obligations in the Lease relating to the documents and the file.
      The Landlord shall co-operate with the CDM co-ordinator to the extent
      necessary to allow the CDM co-ordinator to update the health and safety
      file for the Premises.

            

    

     

    
      	
              6.  

            	
              Reinstatement

            

    

     

    
      	
              6.1  

            	
              Removal
      of the Works

            

    

     

    The
Tenant covenants with the Landlord to dismantle and remove the Works and to
reinstate and make good the Premises and to restore the Premises to their
appearance immediately before the commencement of the Works to the reasonable
satisfaction of the Landlord's Surveyor:

     

    
      	
              6.1.1  

            	
              as
      soon as this Agreement is terminated;
or

            

    

     

    
      
         

      

      
        23

        
          

        

      

      
         

      

    

     

    
      	
              6.1.2  

            	
              before
      the expiration or sooner determination of the Term, except if a new lease
      is to be granted to the Tenant at the end of the Term containing
      provisions to the same effect as those contained in this Schedule for the
      reinstatement of the Premises before the end of the term of such new
      lease.

            

    

     

    
      	
              6.2  

            	
              Method
      of reinstatement

            

    

     

    The
Tenant covenants with the Landlord in carrying out such works of reinstatement
to comply with the provisions of this Schedule for the carrying out of the
Works.

     

    
      	
              7.  

            	
              Termination

            

    

     

    The
licences granted by this Schedule shall also terminate on the termination of
this Agreement.

     

    
      	
              8.  

            	
              Agreement
      and declaration

            

    

     

    It is
agreed and declared that:

     

    
      	
              8.1  

            	
              nothing
      in this Schedule authorises any alterations or additions to the Premises
      other than the Works;

            

    

     

    
      	
              8.2  

            	
              the
      licence contained in this Schedule is granted subject to the rights of any
      person having an interest in the Building or any adjoining or neighbouring
      property or any other interested
persons;

            

    

     

    
      	
              8.3  

            	
              if
      the Works are carried out all the Tenant's covenants and the conditions in
      the Lease shall apply to the Premises when and as altered and shall extend
      to all additions which may be made to the Premises in the course of the
      Works;

            

    

     

    
      	
              8.4  

            	
              the
      alterations comprised in the Works are not improvements within the meaning
      of Part 1 of the Landlord and Tenant Act 1927 and are being carried out by
      the Tenant to suit the Tenant's own personal requirements, and nothing in
      this Schedule nor any correspondence, notice, specification or plan of the
      Works shall be deemed to be notice under the Landlord and Tenant Act 1927
      or the 1954 Act of an intention to make improvements to the Premises, and
      neither the Tenant nor any other person shall be entitled to any
      compensation in respect of the Works at the expiration or sooner
      determination of the Term or at any other
time;

            

    

     

    
      	
              8.5  

            	
              any
      decrease or increase in the rental value of the Premises caused by or
      arising from the execution or existence of the Works or the obligations
      contained in this Schedule shall be disregarded for the purpose of any
      review of rent under the Lease;

            

    

     

    
      	
              8.6  

            	
              nothing
      contained in this Schedule implies any warranty by or on behalf of the
      Landlord that the Works may be lawfully or safely carried
    out;

            

    

     

    
      	
              8.7  

            	
              nothing
      contained in this Schedule releases or in any way lessens the liability of
      any person to the Landlord under the covenants and conditions contained in
      the Lease or constitutes a waiver of any outstanding
      breach;  and

            

    

     

    
      	
              8.8  

            	
              nothing
      in this Schedule imposes upon the Landlord any liability to insure the
      Works until they are complete and the Tenant has notified the Landlord in
      writing of completion of the Works and of any increase in the
      reinstatement value of the Premises (including the
  Works);

            

    

     

    
      
        
           

           

        

        
        

      

      
        24

        
          

        

      

      
        
        

      

    

    Schedule 6

     

    Exclusion
of Sections 24-28 of the 1954 Act

     

    
      	
              1.  

            	
              The
      Parties agree to exclude the provisions of sections 24 to 28 (inclusive)
      of the 1954 Act in relation to the tenancy to be created by the
      Lease.

            

    

    

    
      	
              2.  

            	
              The
      Tenant and Guarantor confirm that before the Tenant became contractually
      bound to enter into the tenancy to be created by the
  Lease:

            

    

    

    
      	
              2.1  

            	
              The
      Landlord served on the Tenant a notice dated 17 October 2007 in relation
      to the tenancy to be created by the Lease in a form complying with the
      requirements of schedule 1 to the Regulatory Reform (Business Tenancies)
      (England and Wales) Order 2003 (the 2003
Order);

            

    

    

    
      	
              2.2  

            	
              The
      Tenant, or a person duly authorised by the Tenant, made a statutory
      declaration (the Declaration) dated 19 October 2007 in a form complying
      with the requirements of schedule 2 of the 2003
  Order.

            

    

    

    
      	
              3.

            	
              The
      Tenant further confirms that, where the Declaration was made by a person
      other than the Tenant, the declarant was duly authorised by the Tenant to
      make the Declaration on the Tenant’s behalf.

            

    

    

    
      
        
           

           

        

        
        

      

      
        25

        
          

        

      

      
        
        

      

    

    Signature
Page

    

    

    
      	
              SIGNED by

              
              

              for
      and on behalf of

              Nokia
      UK Limited

              
              

            	
              )

              )

              )

              )

            	
               /s/
      illegible                                        
      

              Company
      Secretary 

               /s/
      illegible                                          

              22-11-07

            

    

    

     

    
 

    
      	
              SIGNED by

              
              

              for
      and on behalf of

              FOCUS
      Information Limited

              
              

            	
              )

              )

              )

              )

            	
               /s/ Paul
      Marples                               
      

              Paul Marples

              Managing Director

            

    

    

    

    
      	
              SIGNED by

              
              

              for
      and on behalf of

              CoStar
      Group, Inc.

              
              

            	
              )

              )

              )

              )

            	
               /s/ Andrew
      Florance                       
      

              Andrew Florance

              Chief Executive
Officer

            

    

    

    

    
      
        
           

          

        

        
        

      

      
        26

        
          

        

      

      
        
        

      

    

    ANNEXURES

     

    

    
      	
              Annexe
      A:

              
              

            	
              Lease

            
	
              Annexe
      B:

            	
              Opinion
      Letter

              
              

            

    

    

     

    
      
        
           

           

        

        
        

      

      
        27ex10p9.htm

    
      

    

     

    Exhibit
      10.9

     

     

    FIRST
      AMENDMENT OF
      ANHEUSER-BUSCH COMPANIES, INC.

    SUPPLEMENTAL
      EXECUTIVE
      RETIREMENT PLAN

    (Amended
      and Restated as of March 1, 2003)

     

     

    In
accordance
      with the provisions of Section 20 of the Anheuser-Busch Companies, Inc.
      Supplemental Executive Retirement Plan (the "Plan") and the resolution adopted
      by the Compensation Committee of the Board of Directors of Anheuser-Busch
      Companies, Inc. on September 25, 2007, the Plan is amended in the manner set
      forth below.

     

    Section
      1(h) of
      the Plan is hereby amended to read as follows, effective for Participants who
      terminate employment on or after September 26, 2007:

     

        (h)    "Eligible
      Earnings" means, for any calendar year, the sum of the employee's annual base
      salary as of January 1 of such year plus the bonus earned during the prior
      calendar year. For purposes of computing benefits under this Plan, the Eligible
      Earnings to be used shall be the highest of the Eligible Earnings in the
      calendar year of termination or any of the four preceding calendar years.
      Eligible Earnings shall recognize any compensation deferred under the Executive
      Deferred Compensation Plan and treat such compensation as if it were not
      deferred. Notwithstanding anything in Section 3(c) or 3(d) to the contrary,
      the
      amount of the bonus for a calendar year includible in eligible earnings used
      in
      the benefit calculation for a Participant who terminates employment as a current
      or former Strategy Committee member shall be limited to two times the
      competitive market median bonus for that year for the position held by the
      Participant at that time, as determined by the Company's Executive Compensation
      Department and reviewed with the Compensation Committee of the
      Board.

     

    IN
      WITNESS WHEREOF, Anheuser-Busch
Companies, Inc. caused
      this instrument to be executed by its duly authorized officer on this 18th day of October, 2007, effective
      as of the date specified herein.

     

     

    
    

    
      	 	ANHEUSER-BUSCH
              COMPANIES, INC.
	 	 
	
               By:  
                

            	
	 	W.
              Randolph Baker
	 	Chief
              Financial Officer

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