Document:

Exhibit 10.18

 

SUBLEASE AGREEMENT

 

THIS SUBLEASE (the “Sublease”) is made effective this 9th day of June, 2017 by and between Paidion Research, Inc. a North Carolina corporation (“Sublessor”) and  Dova Pharmaceuticals, Inc., a Delaware corporation (“Sublessee”);

 

WHEREAS, Pursuant to that certain Office Lease Agreement dated April 10, 2014 by and between Sublessor, as tenant, and Palladian Center, LLC, a Delaware limited liability company (“Landlord”), (as amended by First Amendment to Lease dated September 18, 2015, the “Master Lease”), Sublessor leases from Landlord all of Suites 245 and 250 on the second floor of the Palladian II building at 240 Leigh Farm Road, Durham, North Carolina  (a copy of the Master Lease being attached hereto as Exhibit A); and

 

WHEREAS, Sublessor and Sublessee have agreed that Sublessor will sublease to Sublessee and Sublessee will sublease from Sublessor all of Suite 245 (together with a small portion of Suite 250) consisting of approximately 7,351 rentable square feet of space, as more particularly shown on Exhibit B, attached hereto and made a part hereof (the “Subleased Premises”), pursuant to the terms of this Sublease:

 

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1.             Recitals; Definitions.  The recitals set out above are true and accurate and are incorporated herein by this reference.  All capitalized terms used, but not defined, in this Sublease shall have the meanings given to such terms in the Master Lease.

 

2.             Sublease of Premises.  Sublessor hereby subleases to Sublessee, and Sublessee hereby accepts and subleases from Sublessor, the Subleased Premises, together with (i) the nonexclusive right to use the Common Areas; and (ii) the non-exclusive right to use 4 unreserved parking spaces per 1,000 rentable square feet of the Subleased Premises (or portion thereof) in the surface parking areas adjacent to the Building which constitute a portion of the Common Areas.

 

3.             Term of Sublease; Minimum Rental.  The term of this Sublease will commence on June 1, 2017 and shall end with the expiration of the Master Lease on April 30, 2020 (the “Sublease Term”).   The monthly rental under this Sublease (the “Minimum Rental”) is as follows:

 

 

	
June 1, 2017 to   May 31, 2018
    	
 
    	
$177,232.61 per year
    	
 
    	
$14,769.38 per month
    
	
June 1, 2018 to May 31, 2019
    	
 
    	
$182,549.58 per year
    	
 
    	
$15,212.46 per month
    
	
June 1, 2019 to April 30, 2020
    	
 
    	
$172,357.21 for eleven months until expiration
    	
 
    	
$15,668.84 per month
    

 

4.             Sublessee’s Business. Sublessee shall use the Subleased Premises for general office use and for no other purpose.

 

5.             Payment of Minimum Rental. The monthly Minimum Rental for the Subleased Premises throughout the Term of this Agreement is set forth in paragraph 3, above.  Sublessee will arrange for monthly Minimum Rental to be paid to Sublessor on or prior to the first day of every month during the Term of this Sublease by wire or ACH transfer rather than by check.  Sublessor will provide appropriate account information to Sublessee.  Sublessee will not be required to participate in Tenant’s Contribution for Operating Expenses under Article 4 of the Master Lease.

 

6.             Sublessee’s Care/Hold Harmless. Sublessee will commit no act of waste, will maintain the Subleased Premises in a neat and orderly condition (including being responsible for maintaining all kitchen equipment during the Sublease term) and will comply with all laws, regulations, rules and orders of any federal, state or local government agencies or departments; provided, however, that Sublessee shall not be required to comply with or cause the Subleased Premises to comply with any laws, rules, regulations or requirements requiring the construction of alterations unless such compliance is necessitated solely due to Sublessee’s particular use of the Subleased Premises or any alterations constructed by Sublessee in the Subleased Premises. Sublessee will not damage the Subleased Premises and will do nothing that could increase the cost of Sublessor’s fire or public liability insurance. Sublessee agrees to hold Sublessor and Landlord harmless against any damages, claims, demands or causes of action caused by Sublessee, or its agents or employees, at or around the Subleased Premises, except to the extent caused by the negligence, breach of contract, willful misconduct or unlawful act of Sublessor, Landlord or their respective agents or employees.

 

7.             Underlying Master Lease. Except for Section 4 of the Master Lease and as otherwise set forth herein, Sublessee shall comply with the terms under the Master Lease that relate and are allocable to the Subleased Premises, provided, however, that to the extent of a conflict between the terms of the Master Lease and the terms of this Sublease, this Sublease shall control.  Except for those provisions that are inconsistent with the terms of this Sublease or otherwise not applicable pursuant to the terms of this Sublease, the terms of the Master Lease, to the extent relating and allocable to the Subleased Premises, are incorporated herein by this reference as if Sublessor were the “Landlord” and Sublessee were the “Tenant” thereunder;  provided, however, Sublessor does not make any of the representations of the Landlord under the Master Lease and does not undertake to perform and observe any of the terms, covenants and conditions on the part of the Landlord to be performed or observed by the Landlord, but Sublessor shall use its commercially reasonable efforts to cause the Landlord to perform or observe such terms, covenants and conditions as they may apply to the Subleased Premises.  Sublessor shall have no obligation to make repairs or replacements to the Subleased Premises, 

 

 

Sublessee agreeing that during the Term of this Sublease it shall be responsible for all of Sublessor’s repair and maintenance obligations with respect to the Subleased Premises under the Master Lease as if it were the “Tenant” thereunder.

 

8.             Warranty by Sublessor. Sublessor warrants and represents to Sublessee that the Master Lease has not been amended or modified except as provided herein and that neither Sublessor nor, to Sublessor’s knowledge, Landlord is in default of any of the provisions of the Master Lease.

 

9.             Improvements; Demising Wall/Entrance; Signage. Sublessee acknowledges it is accepting the Subleased Premises “as is” and may make no alterations thereto; provided, however, that Sublessee may install its telephone and Internet connections and services (but shall not cause any interruptions in such services to Sublessor thereby).  In addition, Sublessor shall construct the  demising wall shown on Exhibit C separating the Subleased Premises from the Suite 250 Space that Sublessor will continue to use and lease from Landlord under the Master Lease (the “Demising Wall”).  Sublessor will obtain all approvals necessary with respect to the Demising Wall.  Sublessor shall install the Demising Wall in accordance with all applicable laws and in a good and workmanlike manner.  Upon completion of the Demising Wall, Sublessee shall pay to Sublessor the lesser of (i) 50% of the Sublessor’s actual out-of-pocket costs associated with the construction of the Demising Wall and (ii) $15,000, as full reimbursement for Sublessee’s share of the cost thereof.  Sublessee acknowledges that construction of the Demising Wall may extend somewhat beyond the commencement date of the Sublease Term and consents to the same.  Sublessor and Sublessee will work together practically and in good faith so that such construction can be completed as quickly as possible.

 

In addition, Sublessor shall install standard building signage for Sublessee for the Subleased Premises in the Building lobby and shall also assist in providing key-card access for Sublessee, both at Sublessee’s expense.  If permitted by Landlord, Sublessee may install, at Sublessee’s sole cost and expense, identification signage on a monument sign for the Building in a location determined by Landlord in accordance with building standards and subject to any applicable governmental laws or regulations (the “Monument Sign”).  Sublessee shall maintain the Monument sign at Sublessee’s sole cost and expense.  At the end of the Sublease Term or earlier removal of the Monument Sign, Sublessee shall pay all costs to remove the Monument Sign and repair any damage caused thereby.  Sublessor shall use commercially reasonable efforts to seek Landlord’s approval of the Monument Sign.  Additionally, after the Demising Wall has been completed, Sublessee shall have the right, at its expense, to create and install signage in the Subleased Premises or on the glass door at the entrance of the Subleased Premises in accordance with plans approved in advance in writing by Landlord.

 

10.          Surrender; Abandoned Property. Sublessee will return the Subleased Premises to Sublessor at the end of the Term of this Sublease in substantially the same condition as received from Sublessor at the beginning of the Term, ordinary wear and tear, casualty, condemnation and repairs that are not Sublessee’s obligations hereunder excepted. All of Sublessee’s personal property remaining in the Subleased Premises for longer than fifteen (15) days after this Sublease terminates shall be deemed abandoned and may be removed or stored by Sublessor at Sublessee’s risk and expense.

 

 

11.          Assignment or Subletting. Sublessee shall not assign or encumber this Sublease or sublet the Subleased Premises without Sublessor’s and Landlord’s prior written consent to the extent and as provided in the Master Lease.  Sublessor shall not unreasonably withhold its consent.

 

12.          Sublessor’s and Sublessee’s Remedies. If Sublessee defaults in the payment of Minimum Rental or in the payment of any other amounts due to Sublessor hereunder or Sublessee defaults in the performance of any of the covenants or conditions of this Sublease, Sublessor may give Sublessee notice of the default. If Sublessee does not cure any default within ten (10) days for monetary default and thirty (30) days for non-monetary default after the giving of notice (or, in the case of any non-monetary default that cannot be cured within thirty (30) days, proceed with reasonable diligence and in good faith to cure such non-monetary default within such 30-day period), Sublessor may terminate this Sublease or, without such termination, terminate Sublessee’s right to possession and relet the Subleased Premises, in each case by written notice to Sublessee (a “Termination Notice”), holding Sublessee responsible for, and Sublessee shall pay, all costs and expenses of such reletting in addition to Minimum Rental as the same shall continue to accrue.  On the date specified in the Termination Notice, this Sublease or Sublessee’s right to possession, as applicable, shall terminate as a result of Sublessee’s uncured default, and Sublessee shall at once quit and surrender the Subleased Premises to Sublessor, and Sublessor may thereafter re-enter and re-take possession of the Subleased Premises as permitted by applicable law and remove Sublessee or other occupants and their property. In addition to such remedies, in the event of a default by Sublessee, Sublessor shall have all rights and remedies available at law or in equity, all remedies being cumulative. In the event of a default by Sublessor hereunder that is not cured within the same time frame provided for a Sublessee default, above, (or, with respect to the Master Lease, within the cure period provided therein) Sublessee shall have all rights and remedies as may be available at law and in equity.

 

13.          Waiver of Performance; Entire Agreement; Amendments. The performance of or compliance with a party’s obligation hereunder may be waived, but only in writing signed by an authorized representative of the applicable counterparty or counterparties.  A waiver of compliance with any provision of this Sublease shall not constitute a waiver of any subsequent lack of compliance with such provision or of any other provision of this Sublease.  Except as provided in this Sublease, no delay or failure on the part of either party in exercising any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any waiver on the part of either party of any such right, power or privilege, nor any single or partial exercise thereof, preclude any other or further exercise thereof or the exercise of any other right, power or privilege hereunder.

 

This Sublease together with the Exhibits hereto and Bill of Sale executed in connection herewith, is intended by the parties as a final expression of their agreement and as a complete and exclusive statement of the terms of their agreement with respect to its subject matter.  This Sublease may not be contradicted by evidence of any prior or contemporaneous agreement, oral or written, and this Sublease may not be explained or supplemented by evidence of consistent additional terms.  No previous course of dealing will be admissible to explain, modify or contradict the terms of this Sublease.  This Sublease supersedes, merges, and voids all prior 

 

 

representations, statements, negotiations, understandings, proposed agreements, and other agreements, written or oral, relating to its subject matter.

 

This Sublease may not be amended, modified or supplemented except by a writing executed by all parties.

 

14.          Subordination. This Sublease is subject and subordinate to Master Lease, and to any mortgages that may at any time affect the real property of which the Subleased Premises forms a part, and also to all renewals, modifications, consolidations and replacements of the underlying mortgages. Although no instrument or act on the part of Sublessee is needed to effectuate such subordination, Sublessee will, nevertheless, execute and deliver any instruments confirming the subordination of this Sublease that the holders of the mortgages or that Sublessor or Landlord may reasonably request.

 

15.          Sublessor May Cure Defaults. If Sublessee defaults in the performance of any covenant or condition of this Sublease, Sublessor may, on reasonable notice to Sublessee (except that no notice need be given in case of emergency), cure the default at Sublessee’s expense and the reasonable amount of all expenses, including reasonable attorneys’ fees, incurred by Sublessor shall be deemed an additional amount owed by Sublessee to Sublessor payable within fifteen (15) days of demand therefor.

 

16.          Notices. Any notice by either party to the other shall be in writing and shall be deemed to be properly given only if delivered personally or by recognized overnight delivery service or mailed by registered or certified mail, return receipt requested, addressed (a) if to Sublessor: Paidion Research, Inc., 240 Leigh Farm Road, Suite 250, Durham, NC 27707, (b) if to Sublessee: Dova Pharmaceuticals, Inc., 240 Leigh Farm Road, Suite 245, Durham, NC 27707, or (c) at such addresses as Sublessee or Sublessor from time to time may designate in writing. Notice shall be deemed to have been given upon delivery if delivered personally, and if mailed, upon the third day after the date of mailing, or if sent by overnight delivery, the day after the date deposited with the overnight delivery service.

 

17.          Sublessor’s Right to Inspect Subleased Premises. Subject to providing no less than twenty-four (24) hours’ prior written notice and agreeing at all times to be accompanied by an employee or representative of Sublessee, Sublessor may enter the Subleased Premises at any reasonable time (except that no notice is needed in case of emergency) to inspect the Subleased Premises and/or, if necessary, to make repairs to the Subleased Premises.

 

18.          Interruption of Services or of Occupancy. Interruption or curtailment of any service maintained in the building containing the Subleased Premises if caused by strikes, mechanical difficulties, or any other causes beyond Landlord’s or Sublessor’s control shall not entitle Sublessee to any claim against Sublessor or to any abatement in amounts due, nor shall they constitute constructive or partial eviction, and Sublessor shall have no responsibility to restore the Subleased Premises.

 

19.          Sublessee to Execute Estoppel Certificate. Sublessee shall upon not less than ten (10) days’ prior written request by Sublessor or Landlord execute, acknowledge and deliver to the requesting party a written statement certifying that this Sublease is unmodified and in full 

 

 

force and effect (or that the Sublease is in full force and effect as modified, listing the instruments of modification), the dates to which the rent and other charges have been paid, and whether or not to the best of Sublessee’s knowledge the requesting party is in default (and if so, specifying the nature of the default), it being intended that any statement delivered pursuant to this paragraph of the Sublease may be relied upon by a prospective purchaser or mortgagee of the requesting party’s interest in the building or prospective assignee of any mortgage upon the requesting party’s interest in the building.

 

20.          Agreement Binding on Successors, Representatives and Assigns. The provisions of this Sublease shall apply to, bind and inure to the benefit of Sublessor and Sublessee, their successors, legal representatives and assigns.

 

21.          Inapplicable Exhibits. The parties agree that the following Exhibits to the Master Lease shall not apply to this Sublease: Exhibit A, Exhibit A-1, Exhibit C (Work Letter) and Exhibit D.

 

22.          Insurance. Prior to the commencement of the Term of this Sublease, Sublessee shall provide certificates of insurance as required by “Tenant” as set forth in Article 9 of the Master Lease, which certificates shall name both Landlord and Sublessor as additional insured parties consistent with the provisions of the Master Lease.  Notwithstanding anything to the contrary herein, Sublessor and Sublessee hereby release each other, and their respective agents, employees, subtenants, and contractors, from all liability for damage to any property that is caused by or results from a risk which is actually insured against or which would normally be covered by “all risk” property insurance, without regard to the negligence or willful misconduct of the entity so released.

 

23.          Security Deposit. Sublessee shall pay to Sublessor within seven (7) business days of execution of this Sublease a security deposit of $14,481.47, which Sublessor will return to Sublessee within a reasonable time (not to exceed thirty (30) days) after the expiration or earlier termination of this Sublease after deducting any amounts therefrom that are permitted to be used by Sublessor under this Section.  In the event of any damage to the Premises or in the event of non-payment by Sublessee of its monetary obligations under this Sublease, Sublessor may deduct the cost amount thereof from the security deposit. The rights and obligations contained in this Section 22 shall survive termination of this Sublease.

 

24.          Landlord Consent; Condition to Sublease.  It shall be a condition precedent to the effectiveness of this Sublease that Landlord shall have consented to this Sublease (including consenting to the construction of the Demising Wall), which consent may be given by Landlord’s signature below or in a separate consent form from Landlord, at Landlord’s election.

 

[SIGNATURE PAGE FOLLOWS]

 

 

IN WITNESS WHEREOF, the parties have caused this Sublease to be executed by their duly authorized representatives, effective as of the date set out above.

 

	
 
    	
SUBLESSOR:
    
	
 
    	
 
    
	
 
    	
PAIDION   RESEARCH, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/   Barry Mangum
    
	
 
    	
Printed   Name: 
    	
Barry   Mangum
    
	
 
    	
Title: 
    	
CEO
    
	
 
    	
 
    
	
 
    	
SUBLESSEE:
    
	
 
    	
 
    
	
 
    	
DOVA PHARMACEUTICALS, INC.
    
	
 
    	
 
    
	
 
    	
By: 
    	
_/s/ Douglas   Blankenship
    
	
 
    	
Printed   Name: 
    	
Douglas   Blankenship
    
	
 
    	
Title: 
    	
CFO
    
						

 

 

EXHIBIT A

 

[Master Lease]

 

 

OFFICE LEASE   AGREEMENT BY AND BETWEEN PALLADIAN CENTER LLC, a Delaware limited liability   co {AS LANDLORD) AND PAIDION RESEARCH, INC., a North Carolina corporati {AS   TENANT) 

    

 

TABLE OF   CONTENTS BASIC LEASE TERMS   .................................................................... 1. 2. 3.   4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24.   25. 26. 27. 28. 29. 30. 31. 32. 33. 34. 35. 36. DESCRlPTION OF PREMISES   ....................................................... TERM; COMMENCEMENT   DATE; DELIVERY OF PREMISES RENTAL   ...........................................................................................   ALTERATIONS AND IMPROVEMENTS BY TENANT .............. USE OF   PREMISES.........................................................................   SERVICESBYLANDLORD ..........................................................   TAXES ONLEASEANDTENANT'SPROPERTY...................... INSURANCE AND   INDEMNITY .................................................. LANDLORD'S   COVENANTTOREPAIRANDREPLACE ........ PROPERTY OF TENANT   ............................................................... TRADE   FIXTURES AND EQUIPMENT ........................................ DAMAGE OR   DESTRUCTION OF PREMISES ............................ GOVERNMENTAL ORDERS   ......................................................... MUTUAL WAIVER OF   SUBROGATION...................................... SIGNS AND ADVERTISING   ......................................................... LANDLORD'S RIGHT OF   ENTRY ................................................ INTENTIONALLY OMITTED   ........................................................ EMINENT DOMAIN   .......................................................................   EVENTS OF DEFAULT AND REMEDIES ....................................   SUBORDINATION..........................................................................   ASSIGNMENT AND SUBLETTING ..............................................   LANDLORD DEFAULT ..................................................................   TRANSFER OF LANDLORD'S INTEREST................................... COVENANT   OF QUIET ENJOYMENT ......................................... ESTOPPEL   CERTIFICATES ...........................................................   PROTECTION AGAINST LIENS....................................................   MEMORANDUM OF LEASE..........................................................   FORCE MAJEURE ..........................................................................   REMEDIES CUMULATIVE--NONWAIVER............................... HOLDING OVER   ............................................................................   NOTICES...........................................................................................   LEASING COMMISSION   ................................................................   MISCELLANEOUS   ..........................................................................   SEVERABILITY..............................................................................   RIGHT OF FIRST   OFFER................................................................ 

    

 

STATE OF NORTH   CAROLINA COUNTY OF DURHAM TIDS LEASE AGREEMENT (the "Lease") made   and entered into :----,-----::'' 2014, by and between PALLADIAN CENTER LLC, a   Delaware li hereinafter called "Landlord"; and PAIDION RESEARCH,   INC., a Nmt hereinafter called "Tenant": In consideration of the   mutual covenants and agreements contained h agree for themselves, their successors   and assigns, as follows: BASIC LEASE TERMS. 1. The following terms shall have   the following meanings in this Lease: (a) Premises: Suite 250 ("Suite   250") containing approximately 7,4 office space on the second floor of   the Building, as more pa1t floor plan attached hereto as Exhibit   "A". As further described in Section 3(b) below, on Aplil I, 201   expanded by adding to the Premises Suite 245 ("Suite 245") c 6,941   rentable square feet of office space on the second floor particularly   described on the floor plan attached hereto as Exhi such date the Premises   shall contain 14,378 rentable square feet. (b) Building: Palladian II,   located at 240 Leigh Farm Road, Durham (c) Business Park: Palladian Corporate   Center. (d) Common Areas: All areas of the Building or the Business Park a   use or benefit of all tenants primarily or to the public gene limitation,   parking areas, driveways, sidewalks, loading docks elevators, stailwells,   entrances, public restrooms, mechanical r telephone rooms, mail rooms,   electrical rooms, and other simila providing for building systems, and any   other common facilitie from time to time. (e) Commencement Date: May I, 2014   (subject to adjustment purs Lease). 

    

 

month then the   Expiration Date shall be extended to the last day would otherwise fall. (g)   Minimum Rental: PERIOD RATE (per rentable square foot) MONTHLY MINIMUM RENTAL   05/01/14-04/30/15 05/01/!5-09/30/15* 10/01/15-04/30/16 05/01/16-03/31/17   04/01/!7 -04/30/!7** 05101/17-06/30/17** 07/01/!7-04/30/18 05/01/18-04/30/19   05/01/19-04/30/20 - o long as Tenant is not in *S default under this Lease,   during the five 05/01/2015 until 09/30/2015 Minimum Rental shall abate by   100% for S Minimum Rental table above (the "Suite 250 Abatement   Period"). --------- - (h) Operating Expense Stop: Actual Operating   Expenses for the cale (i) Tenant's Proportionate Share: A fraction, the   numerator of whic rentable square feet within the Premises and the   denominator munber of rentable square feet within the Building, currently   esti + 100,546) until 04/01/2017 at which time it shall increase to 14. (j)   [Intentionally Deleted]. (k) Notice Addresses: . 

    

 

With a copy to:   Lincoln Harris LLC 5430 Wade Park Boulev Raleigh, North Carolina Attention:   David P. Odd Tenant: Paidion Research, Inc. 240 Leigh Farm Road, S Durham, NC   27707 (I) Security Deposit: $26,958.75. (m) Brolcer{s):CERE-Raleigh, LLC   Tenant. representing Landlord and Tri (n) Guarantor: N/A. (o) Parking. Tenant   shall have the non-exclusive right to use 4 u per 1,000 rentable square feet   of the Premises (or portion thereo areas adjacent to the Building which   constitutes a p011ion of the C 2. DESCRIPTION OF PREMISES. Landlord hereby   leases to Tenant, and Tenant hereby accepts and re Premises within the   Building located in the Business Park; together with the none Common Areas.   The useable area of the Premises shall be detennined in accor set forth in ANSI   265.1-1996, as promulgated by the Building Owners and ("BOMA   Standard"). The rentable area of the Premises shall be determined by   area of the Premises by a "core factor" as reasonably determined by   Landlord. time, have its architect or engineer measure the actual total   square footage of Premises. In the event the Building shall contain an amount   of square footage d referenced in Section I (i) above, the Building shall be   redefined to reflect the ac Tenant's Propm1ionate Share shall be redefmed to   reflect the actual square footag event the Ptemises shall contain an amount   of square footage different than th referenced in Section l(a) above, the   Ptemises (and all other provisions related t Proportionate Share) shall be   redefined to reflect the actual square footage an hereinafter defined) shall   be propmtionately adjusted based on the actual square f applicable square   foot rental rate. The cost of such measurement shall Notwithstanding anything   herein to the contrary, if Landlord has not exercised hereunder within one   hundred and eighty (180) days of the date of this Lease, Lan lts rights to   such measurement. TERM; COMMENCEMENT DATE; DELIVERY OF PREM 3. (a) Term.   Unless otherwise adjusted as hereinbelow provided, the T 

    

 

event the   Commencement Date is a day other than the ftrst day of a calendar m shall be   that period commencing on tl1e Commencement Date and continuing un the   Adjustment Date and each succeeding Lease Year shall be a twelve-month pe   subsequent anniversary of the Adjustment Date. (b) Commencement Date.   Notwithstandh1g anything contained he Commencement Date shall be deemed to be   the earlier of: (a) the date Tenant, any pmiion of the Premises with Tenant's   permission, commences business oper or (b) May!, 2014. (c) Deliverv of Premises.   Tenant has made a complete inspection accept ilie Premises and the Building   in their "AS IS", "WHERE IS", and condition without   recourse to Landlord, subject to Landlord's representations a contained in   this Lease. After delivery, except as expressly provided in tl1is Le no   obligation to furnish, equip or improve the Premises or the Building. Tena   the Premises in accordance with the Workletter attached hereto as Exhibit   "C". Notwithstanding the foregoing, Landlord shall use reasonable efforts   Tenant's licensed contractors with access to the Premises iliree (3) weeks   prio Date for among other thh1gs, Tenant's installation of its furniture,   fixtures, cabli the Premises, provided (i) Tenant has obtained all insurance   required hereun Tenant, (ii) such early access by Tenant and its contractors   does not in any way Landlord or any cuJTent tenant, (iii) Tenant's access to   the Premises is coord Landlord, and (iv) Tenant's occupancy of the Premises   prior to the Comme complies with all other applicable terms and conditions of   this Lease.Such e operate to trigger the "Commencement Date" as   provided above. (d) Expansion of the Premises. The parties aclmowledge iliat   begi Tenant will sublease Suite 245 fimi:t the cmTent tenant of Suite 245   ("RED" sublease agreement with RED (the "Suite 245   Sublease"). On April 1, 2017, w date the Suite 245 Sublease expires,   Suite 245 shall be added to the Premises Suite 245 in its as-is, where-is   condition. Until April!, 2017, the term Premis mean Suite 250. Beginning on   April 1, 2017, ilie term Premises shall mean both The Minimum Rental table   under Section I (g) above reflects the addition of Suit April 1, 2017,   subject to a Minhnum Rental abatement period as noted in such tab (e)   Contingency. The effectiveness of this Lease is contingent upon Suite 245   St1blease by Tenant and RED, (ii) the execution of Landlord's c Sublease, and   (iii) the execution of a lease amendment between RED and Land 250 to Landlord   (the "Contingencies"). If any of the Contingencies are not sa days   of execution of this Lease, then either party may terminate this Lease with w   other party within ftve (5) days of the end of such thirty (30) day period.   4. RENTAL. 

    

 

(a) Minimum   Rental. Beginning with the Commencement Date and continuing through the E   termination of this Lease, Tenant shall pay Minimum Rental in accordance with   Section l(g) in equal monthly installments each in advance on or before the   fir the Commencement Date is a date other than the first day of a calendar   month, th be prorated daily from such date to the first day of the next   calendar month an Commencement Date. (b) Abated Rent Period. So long as   Tenant is not in default under t Tenant aclmowledge that Tenant will receive   cettain Minimum Rent abatemen Rental Abatement Periods as noted in the   Minimum Rental table in Section l(g). term or covenant required to be   performed by Tenant under the Lease beyond a cure period dming the Tenn and   as a result the Lease is terminated prior to sch Term, Landlord shall have   the right to rescind all such reductions or abat hereunder, and to recover   fi·om Tenant as of the termination date of this Lease ( sums recoverable from   or payable by Tenant in cotmection therewith) an amoun Minimum Rent which   would have been payable during the Minimum Rental Tenant been required to pay   for each month thereof the amount of Minimum Re balance of said calendar   year, but in no event shall Landlord be entitled to a amounts if included in   other damages Landlord receives. (c) Operating and Maintenance Expenses. Tenant   shall pay Tenant's Proportionate Share (as set fmth in Section l(i and   expenses paid or incurred by Landlord each calendar year in the operation, re   the Building, the Common Areas and the Business Park (the "Operating   Expen costs exceed the Operating Expense Stop set forth in Section !(h). For   pur Expenses shall include without limitation, all: (i) ad valorem taxes (or   any tax h thereof) levied on the Premises, the Building, the Common Areas or   any im insmance premiums and policy deductibles paid with respect to the   Building, inc coverage insurance and liability insurance, (iii) personal   propetty taxes applica owned by Landlord and used exclusively for the benefit   of the Building or the Pre share of such taxes if such personal prope1ty is   also used to benefit other buildi fees or costs incurred in connection with   protesting any tax assessment, (v) Sta (as hereinafter defined) including   utilities, heat and air conditioning, standar window cleaning, (vi) building   management (including management fees not to in the Raleigh/Durham rental   market where the Building is located), (vii) tlw cost care m1d general   landscaping, irrigation systems, maintenance and repair to pa (including   storage of materials), driveways, sidewalks, exterior lighting, garbage snow removal,   water and sewer, plumbing, signs and other facilities serving or b the   Building, (viii) the cost of all services rendered by third parties with   respect Common Areas and all costs paid or incurred by Landlord in providing   any of th by Landlord pursuant to the terms of this Lease; (ix) costs of all   capital im 

    

 

Park, including   without limitation, the reasonable costs and expenses assoc maintenance and   operation of Business Park amenities made available for the com of the   tenants of the Business Park fi·om time to time. Landlord shall use good   Operating Expenses in line with costs for other similarly situated first   Raleigh/Durham market, taking into account rent and other relevant factors.   Notwithstanding the foregoing, Common Area Operating Expenses and not include   the following: (i) (ii) Leasing commissions. The cost of tenant fir1ish   improvements provided solely for the be proposed tenants in the Building.   (iii) Costs of correcting building code violations which violations wer Commencement   Date. Depreciation on the Building. (iv) (v) (vi) (vii) (viii) The cost of   services separately charged to and paid by another ten Interest payments and   financing costs associated with Building fi Legal fees associated with the   preparation, interpretation and/or e Repairs and replacements for which and   to the extent that Landlo by insurance and/or paid pursuant to warranties.   Advertising and promotional expenses. Costs representing an1ounts paid to an   affiliate of Landlord f which are in excess of the amounts which would have   been pai relationship. (ix) (x) Notwithstanding the foregoing, if in any year   the Building is less than n occupied, the variable portion of Operating   Expenses shall be adjusted to r Operating Expenses which would reasonably be   expected to be incurred by Land ninety-five percent (95%) occupied.   Notwithstanding the foregoing, in no event Operating Expenses as hereinabove   described result in a profit to Landlord. "Additional Rental" shall   mean such costs, expenses, charges and oth Tenant Contribution (as defined   below), to be made by (or on behalf of) Tenant t party if required under this   Lease), whether or not the same be designated as such. (d) Payment of   Operating Expenses. Tenant shall pay to Landlord in advance each month commencing   on Jan Tenant's installments of Minimum Rental (and Additional Rental, if   applicable) Contribution") equal to one-twelfth (1/12) of Tenant's   Propmtionate Share of th hereinabove described for any calendar year·   (including any applicable pmtial cal such costs exceed the Operating Expense   Stop, as estimated by Landlord (in it Landlord will make reasonable efforts   to provide Tenant with Landlord' Contribution for the upcoming calendar year   on or before December 15 of each Term hereof. Not more than twice during any   calendar year, Landlord may in g 

    

 

calendar year.   Tenant shall pay the total amount of any balance due shown o thitty (30) days   after its delive1y. In the event such annual costs decrease for shall   reimburse Tenant for any overage paid and the monthly rental installments be   reduced accordingly, but not below the Minimum RentaLFor the calendar   commences, Tenant's Contributionshallbe proratedfrom the Comme December 31 of   such year. Fmther, Tenant shall be responsible for the payment for the   calendar year in which this Lease expires, prorated fi·om Januruy I thereo   Date. Upon the Expiration Date, Landlord may elect either (i) to require Te   estit:nated runount within thirty (30) days after the Expiration Date, which   est Landlord based upon actual ru1d estimated costs for such year, or (ii) to   withh until the exact amount payable by Tenant is determinable, at which time   Tena Lai1dlord any deficiencies or Landlord shall return any excess Security   Deposit to Notwithstanding the foregoing, the Controllable Operating Expenses   which may be passed through to Tenant under this Section 4 shall not increase   amount which exceeds seven percent (7%) of such Controllable Operating Expe   preceding Lease Year (as measured on a cmnulative and compounded basis)   "Controllable Operating Expenses" shall be deemed to include all   Operating Exp (e.g., electricity, gas, water ru1d sewer), insurance, taxes,   snow removal ru1d ru1y o set or determined by a governmental entity or other   third party or are other reasonable control. (e) Docrnnentruy Tax. In the   event that any documentary stamp tax, sales tax or any othe (exclusive of   aiJY income tax payable by Landlord as a result hereof) becomes leasing or   letting of the Premises, whether local, state or federal, and is require   execution hereof or otherwise with respect to this Lease or the payments due   he shall be borne by Tenant and shall be paid promptly and prior to same   becomin provide Landlord with copies of all paid receipts respecting such tax   or charge pr same. (f) Late Payment. If any monthly installment of Minimum   Rental, Additional Rental (if an ru1d payable pm·sua.J1t to this Lease   remains due and unpaid seven (7) days after sa Tenant shall pay as additional   rent hereunder a late payment charge equal to fi past due amount. All unpaid   rent and other smns of whatever nature owed by T this Lease shall bear   interest from the tenth (lOth) day after the due date thereof two percent   (2%) per annum above the "prime rate" as published in The Wall Str   time (the "Prit:ne Rate") or the maximum interest rate per annum   allowed b Landlord of ruw payment from Tenant heretmder in an aJilount less   than that wh in no way affect Landlord's rights under this Lease and shall in   no way c satisfaction. 

    

 

structural   alterations which do not require a building permit, which do not a electrical   systems, and which are not visible from the exterior of the Premises, co   Thousand and No/100 Dollars ($5,000.00) ("Cosmetic Changes") in the   aggreg year to the Premises without obtaining Landlord's consent, but in such   eve Landlord with thirty (30) days prior written notice of such alteration   and mu materials and paint. Any other nonstructural changes or other   alterations, additi the Premises other than the Cosmetic Changes shall be   made by or on behalf of T written consent of Landlord, which consent shall   not be umeasonably wit alterations, additions or improvements, including   without limitation all pa carpeting, floor and wall coverings and other   fixtures (excluding, however, T described in the Section entitled "Trade   Fixtures and Equipment" below) made b of Tenant shall, when made, become   the prope1ty of Landlord; provided, howeve right, in Landlord's sole   discretion, to obligate Tenant to remove said a improvements from the   Premises (and restore the Premises to the condition in wh undettaking of said   alterations or improvements) at the expiration or earlier tenni   Notwithstanding mwthing contained herein to the contrary, all alterat   undertaken by Tenant shall be consistent with the then-existing quality,   color sche general aesthetic appearance and tenor of the balance of the   Building. Fur improvements to the Premises, except the Tenant Improvements   which are a whether undertaken by Tenant or Landlord shall be subject to a   fee (the "Co Fee"). Tenant agrees to pay Landlord the Construction   Mmmgement Fee as follo (a) Five percent (5%) of the total cost of planning   and con and improvements if such construction costs exceed Ten Thousand and   Noll 00 D (b) and improvements ($10,000.00). Ten percent (I0%) of the total   cost of planning and con if such constuction costs are less than Ten Thousan   Except as otherwise providedherein, Tenant agrees to pay Lan Management Fee   within ten (10) days after receipt of Landlord's invoice therefor. 6.   USEOFPREMISES. (a) Tenant shall use the Premises only for general office   purposes an Tenant shall comply with all laws, ordinances, orders,   regulations and zoning clas governmental authority, agency or other public or   private regulatmy authori underwriters or rating bureaus) having jurisdiction   over the Premises.Tenant follow any practice relating to the Premises, the   Building or the Common Areas nuisance or detract in any way from the   reputation of the Building as a first-class comparable to other comparable   buildings h1 the Raleigh/Durham market takin other relevant factors. Tenant's   duties in this regard shall include allowing no nox fmnes, gases, smoke,   dust, steam or vapors, or any loud or disturbing noise or vib 

    

 

Premises shall   not be used for the treatment, storage, transportation to or from, u   hazardous wastes, materials, or substances, or any other substance that is   prohib by any governmental or quasi-govemmental authOiity or that, even if   not so regu a hazard to health and safety of the occupants of the Building or   sunoundi "Hazardous Substances"). In addition, Tenant shall be   liable for, and shall inde hann[ess from, all costs, damages and expenses   (including reasonable attm connection with the use, storage, discharge or   disposal of any Hazardous Subst Building by Tenant or Tenant's Invitees. (c)   Tenant shall exercise due care in its use and occupancy of th commit or allow   waste to be committed on any portion of the Premises. Tena Premises, and the   Tenant Improvements and other Alterations (hereinafter define repair and   condition during the Term at Tenant's sole cost and expense, and Ten or other   termination of the Term, su!1'ender and deliver the same and all keys,   corn1ected therewith (excepting only Tenant's personal property) in good   order, the same shall be at the Commencement Date, except as repaired,   rebuilt, resto pursuant to this Lease, and except fot·ordinary wear and tear.   Landlord shall hav to make any repairs in or to the Premises, the Tenant   Improvements or any Altera provided in this Lease. Any and all dan1age or   injury to the Premises (includin Tenant Improvements), or the Building caused   by Tenant, or by any empl assignee, subtenant, invitee or customer of Tenant   shall be promptly reported to the mutual waiver of claims and subrogation   contained in this Lease, repaired b cost; provided, however, that Landlord   shall have the option of repairing any suc Tenant shall reimburse Landlord   for all costs incurred by Landlord in respect th within fifteen (15) days   after Tenant receives Landlord's notice of such costs. (d) Tenant's use and   occupancy oftl1e Premises shall include the us entitled thereto of the Common   Areas and all other improvements provided by L use of the Building tenants,   and any other common facility as may be designated Landlord, subject,   however, to the terms and conditions of this Lease and to t regulations for   use therefor as prescribed from time to time by the Landlord. Su Tenant, its   employees, agents, customers and invitees shall have the nonexclusi other   benefiting tenants) to use the Common Areas for purposes intended and the   adjacent sutface parking areas in accordance with Section l(o) herein.Tena   materially interfere with the use of the Common Areas by Landlord, another te   entitled to use the same. Landlord reserves the right, from time to time, to   al Areas, to exercise control and management of the same, and to establish,   mod such reasonable rules and regulations as Landlord in its discretion may   management of the Building or the Common Areas, provided, however, Landl   efforts to minimize any adverse affect on Tenant's use and enjoyment of   Landlord's work. (e) Tenant shall not block or cover any of the heating,   ventilation or the Premises. Tenant shall keep all ice and coffee machines   that Tenant places 

    

 

Landlord in   writing of: (i) any visible signs of mildew or mold growth in the P becomes   aware; and (ii) any Mold and Mildew Conditions discovered by Tenant (f)   Tenant shall save Landlord and its partners or members har liabilities,   penalties, fines, costs, expenses or damages resulting from the failure o the   provisions of this Section 6, provided, however, Tenant shall not be respons   conditions. This indemnification shall survive the termination or expiration   of th 7. SERVICES BY LANDLORD. Provided that Tenant has fully complied with   all tenns and conditions then in default hereunder, Landlord shall cause to   be fumished to the Premises (s as part of the Operating Expenses) in   coll1ll1on with other tenants during "Stand (as defined below), Monday   through Friday and Saturday (excluding holidays) janitorial services (once   per working day after normal weekday working hours) city mains for drinking,   lavatoty and toilet purposes and, to the extent Tenant pro · interior   kitchenette area; operatorless elevator service; electricity for general of   fluorescent lighting replacements to building standard fixtures only); trash   rem city schedules; and heating and air conditioning for reasonably   comfortable u Premises (but in any event within tl1e temperature ranges   required by Section heating and cooling conforming to any governmental   regulation prescribing lim deemed to comply with this service. All additional   costs resulting from Tenant heating, air conditioning or electricity shall be   paid by Tenant, but Tenant shall n unusual demands for any of the foregoing   without Landlord's prior written cons withhold if it reasonably detennines   that such equipment may not be safely use electrical service is not adequate   therefor. Notwithstru1ding anything containe Lru1dlord reserves the right to   contract with ruty third party provider of such services to the Premises, the   Building and the Business Park in the most econom shall not contract with any   other third party provider to supply such utilities Landlord's prior written   consent. So long as Landlord acts reasonably and in goo abatement or   reduction of reut by reason of any of the foregoing services not bein to   Tenant. Landlord agrees to provide heating ru1d air conditioning after-hours   (i.e,, Standard Hours of Operation) at Tenant's request after reasonable   notice and if zoned for this purpose. The cost of after-hours service of   heating or air conditi rent payable monthly by Tenant at $35.00 per m1it per   hom. As used herein, "Standru·d Hours of Operation" shall mean and   refer to th the Building which are 8:00 a.m. to 6:00p.m. Monday through   Friday and 9:00a. Saturday, except holidays. Holidays shall mean and refer to   each of the follow aside for observance): New Year's Day, Memorial Day,   Independence Day, L Day, Christmas Day and any other holiday(s) generally   recognized as such by lan the Raleigh/Dmham Area office mru·ket, as   reasonably detennined by Landlord a 

    

 

8. TAXES ON   LEASE AND TENANT'S PROPERTY. (a) Tenant shall pay any taxes, documentary   stamps or assessments be imposed or assessed upon this Lease, Tenant's   occupancy of the Premises or equipment, machinery, inventory, merchandise or   other personal property locat owned by or in the custody of Tenant as   promptly as all such taxes or assessme payable without any delinquency. (b)   Landlord shall pay, subject to reimbursement from Tenant as entitled   "Rental" of tlus Lease, all ad valorem property taxes which are now   or the Building, the Premises and the Common Areas, except as otherwise   expressly 9. INSURANCE AND INDEMNITY. (a) reimbursement Fire and Extended   Coverage Insurance. Landlord shall maint by Tenant as provided in Section 4   hereof, for fire and casualt insurance, with extended coverage (including   boiler and machine1y coverage) equal to the full replacement cost thereof.   Tenant shall not do or cause to b Premises or in the Building anything deemed   extrahazardous on account of fire the Premises, the Common Areas or the   Building in any matmer which will premium rate for any insurance in effect on   the Building or a part thereof. If, be done, caused to be done, permitted or   omitted by Tenant or Tenant's Invitees, t kind of insurance in effect on the   Building or any patt thereof shall be raised, Te on demand the amount of any   such increase in premium which Lat1dlord shall pa if Landlord shall demand that   Tenant remedy the condition which caused a insmance premium rate, Tenant   shall remedy such condition within five (5) d demand. Tenant shall maintain   and pay for all fn·e and extended coverage insura Premises, including trade   fixtures, equipment, machine1y, merchandise or belonging to or in the custody   of Tenant.Tenant shall first furnish to Landl policies or certificates of   insurance evidencing the required coverage prior to th and thereafter prior   to each policy renewal date. Notwithstanding anything herein to the contraty,   Landlord reserves the ri and assigns to self-insure against any risk required   here1mder to be insured o Landlord so long as any such program of   self-insurance affords the same cover which would be afforded in tl1e event   Landlord procured insurance fi·om a third-p (b) Liability Insmance. At all   times during the term of this Lease, cost and expense, keep in force adequate   public liability insurance under the general liability policy (occurrence   coverage) insuring Tenant against at1y liabil occupat1cy or maintenance of   the Premises or the business operations of Tenant in the amount of not less   than Three Million and No/100 Dollars ($3,000,000.0 company(ies) licensed to   do business in Nmth Carolina and as shall fi·om tim acceptable to Landlord   (and to atly lender having a mortgage interest in the Landlord and its   members or partners at1d Landlord's agent as an additional insu 

    

 

rated A-X or   better in the most current issue of Best's Insurance Repmts and s $25,000.00   or less.Such insurance shall include, without limitation, persona liability   coverage for the perfonnance by Tenant of the indemnity agreements Tenant   shall first furnish to Landlord copies of policies or ce1tificates of i   required coverage prior to the Commencement Date and thereafter prior to ea   Tenant shall use commercially reasonable efforts to cause all policies   required contain a provision whereby the insurer is not allowed to cancel or   change without first giving thirty (30) days' written notice to Landlord, but   failure of suc provisions shall not be a default hereunder. (c) Indemnity.   Subject to the mutual waiver of subrogation set f indemnify and save Landlord   and its members or partners harmless against any claims, suits, demands,   actions, fines, damages, and liabilities, and all cost (including without   limitation reasonable attorneys' fees) attributable to (i) any performance of   any obligation of Tenant hereunder, (ii) Tenant's use or occup (iii)   otherwise arising out of injmy to persons (including death) or prope11y occ   arising out of the Premises or other areas in the Building if caused or   occasioned act or omission of Tenant or Tenm1t's Invitees, except to the   extent caused by willful misconduct of Landlord. The non-prevailing party   shall also pay reasonable attorneys' fees that may be incurred by the   prevailing pa1ty in enforci Lease, whether incuned as a result of litigation   or otherwise.Tenant shall g notice of any such happening causing injury to   persons or propei1y. Except if caused by any act(s) or omission(s) of Tenant   or Tenant's In mutual waiver of subrogation set fmth herein, Landlord shall   indemnify, defend m against any and all actual and direct claims, suits,   demands, actions, fines, damag costs and expenses thereof (including without   limitation reasonable attorneys' fe to persons (including death) or prope11y   occurring in, on or about, the Cmrunon A Business Park if directly caused or   occasioned wholly or in part by any negligen of Landlord or Landlord's   agents, employees or contractors. Provided, howeve liable for any damage   caused or occasioned by or fi·om water, snow or ice being the roof, trapdoor,   walls, windows, doors, or otl1erwise in, upon or about the Pre from any   damage arising from acts or omissions of co-tenants or other occupan Business   Parle (d) Landlord Insurance. Landlord shall keep in force during the term in   such amounts and coverages as Lm1dlord deems appropriate or is otherwise third   pmties, such as its lender. 10. LANDLORD'S COVENANT TO REPAIR AND REPLACE.   (a) the Common During tl1e Term, Landlord shall be responsible for necessmy   re Areas as well as the roof and the base building structmal comp including   without limitation, the central plumbing and electrical systems serving 

    

 

not materially   or adversely impair Tenant's use and enjoyment of the Premises danger to the   health or safety of Tenant or· Tenant's Invitees. Landlord's r (excluding any   restoration obligations following a casualty pursuant to the ter shall be   made as soon as reasonably possible using due diligence and reaso account in   each instance all circumstances smrounding the repair or replac limitation,   the materiality of the repair or replacement to Tenant's use and operat the   Premises and the relation thereof to the enjoyment of same, such period no   receiving written notice from Tenant of the need for repairs or such longer   perio necessary under the circumstances so long as Landlord is diligently pursuing   provided, however, in no event shall such period of time exceed I 20 days   after from Tenant. If Landlord carmot, using due diligence, complete its   repairs with specified and such failure to repair has a material adverse   impact on Tenant's Premises, then (unless the need for such repairs or   replacements is the r misconduct or acts or omissions of Tenant or Tenant's   Invitees, in which ev entitled to any remedy) Tenar1t may tenninate this   Lease effective upon tl1irty notice to Landlord, without prejudice to   Landlord's rights to receive payment fr dan1ages to the extent caused by   Tenant or Tenant's Invitees. lfthe need for suc is the result of the   negligence, misconduct or acts or omissions of Tenant or T expense of such   repairs or replacements are not fully covered and paid by La Tenant shall pay   Landlord the full amount of expenses not covered. (b) Landlord shall not be   liable for any failure to make any re maintenance required of Landlord   hereunder unless such failme shall persist fo of time after written notice   from Tenant setting forth the need for such repai reasonable detail has been   received by Lar1dlord. Except as set forth in the Secti "Damage or   Des1TUction of Premises," there shall be no abatement of rent. The   Landlord by reason of any injury to or interference witl1 Tenant's business   arising repairs, replacements, alterations or improvements to any portion of   the Buildin fixtures, appurtenar1ces and equipment therein except to the   extent caused dire negligence or willful misconduct. To the extent permitted   under applicable law to make repairs at Landlord's expense under any law,   statute or ordinance now or 11. PROPERTY OF TENANT, All property placed on   the Premises by, at the direction of, or with th Tenant's Invitees, shall be   at the risk of Tenant or the owner thereof ar1d Landlo any loss of or damage   to said property resulting fi·om any cause whatsoever ex loss or damage   caused by the gross negligence or willful misconduct of Landlor same is not   covered by the insurance Tenant is required to maintain under t!1e ter 12.   TRADE FIXTURES AND EQUIPMENT. Any trade fixtures and equipment installed in   the Premises at Tenant's e Tenant in notice to Landlord shall remain   Tenar1t's personal property and Tena 

    

 

thereto, or   (ii) be subject to Landlord's removing such property from the Premise   Tenant's expense and without any recourse against Landlord with respect there   generality of the foregoing, the following property shall in no event be   deemed t Tenant shall not remove any such property from the Premises under   any circ whether installed by Landlord or Tenant: (a) any air conditioning,   air ventilati equipment; (b) any lighting fixtures or equipment; (c) any   carpeting or other pe (d) any paneling or other wall coverings; (e) plumbing   fixtures and equipment; or 13. DAMAGE OR DESTRUCTION OF PREMISES. If the   Premises are damaged by fire or other casualty, but are not re Tenant's   business, either in whole or in pali, in Tenant's reasonable determinati such   damage to be repaired without unreasonable delay and the Annual Renta reason,   in Tenant's reasonable determination, of such casualty the Premises are r   Tenant's business, either in whole or in pali, Landlord shall cause the   damage to the Building (including any Tenant Improvements or Alterations   therein to Landlord) to be repaired or replaced without unreasonable delay,   and, in the int shall be proportionately reduced as to such portion of the   Premises as is rendered abatement of rent shall not, however, create an   extension of the Term. Provided, such casualty, the Premises are rendered   untenantable in some material porti reasonable estimation, determines that   the amount of time required to repair diligence is in excess of two btmdred   ten (210) days (as measured fi·om the is building permits necessary for the   reconstruction of the Building), then either pa terminate this Lease by   giving written notice of termination within tbilty (3 0 casualty, and the   Annual Rental shall (i) abate as of the date of such casualty in the Premises   rendered untenantable and (ii) abate entirely as oftl1e effective date Lease.   Notwithstanding the foregoing, in the event the casualty giving rise to a   caused by the negligence, misconduct or acts or omissions of Tenant or Tenan   have no right to terminate this Lease. Notwithstanding the other provisions   of t there should be a material casualty loss to the Premises during the last   Lease Ye may, at its option, terminate this Lease by giving written notice to   Tenant within date of the casualty and the Annual Rental shall abate as of   the date of such no herein, Landlord slmll have no obligation to rebuild or   repair in case of fire o termination under this Section shall affect any   rights of Landlord or Tenant he prior defaults of the other pru·ty. Tenant   shall give Lru1dlord immediate not casualty in the Premises. Notwithstanding   anything contained in this Section t shall only be obligated to restore the   Premises to the condition as existed on t unless Tenant makes available to   Landlord proceeds fi·om Tenant's insurance restore the Premises to the   condition in which it existed immediately prior to those items in excess of   building standru·d. h1 ru1y event, Landlord shall not be fi.mds than the   amount received by Landlord from the proceeds of any insu received from   Tenru1t, provided, however, if Landlord's insurance proceeds are in or   complete the restoration work required of Landlord hereunder and Lan   additional funds to complete the work, then Tenant may tenninate the Lease. 

    

 

requirements of   any legally constituted public authority that may be in effect f necessary by   reason of Tenant's specific use or occupancy of the Premises. La promptly   with any such requirements if not made necessary by reason of Ten With regard   to the physical structure of the Building, Landlord agrees to use goo to   unde1take those actions that are "readily achievable" (as such term   is defined attempt to bring the physical structure of the Building in   compliance with the ap the ADA in effect as of the Commencement Date. If it   is determined that for an have failed to cause the physical structure of the   Building to be brought into com ofthe Commencement Date (to at least the   minimum extent required under appli effect), then Landlord, as its sole   obligation and at its sole expense (which may b ·Expenses to the extent   pennitted by Section 4(c)), will take tl1e action(s) necess structure of the   Building (excluding any tenant improvements or alterations) to acknowledges   and agrees that Landlord has and shall have no other obligation o Tenant, or   to anyone claiming by or through Tenant, regarding any failure activities   therein to comply with the applicable requirements of the ADA. N contained   herein to the contrary, it is agreed that: (a) Tenant is exclusively respo   with all requirements of any legally constituted public authority in the   event non-design of the interior of the Premises pursuant to the Plans or   Tenant's specific us the event of any non-compliance for wl1ich Landlord is   responsible, Landlord breach of this Lease if such non-compliance does not   materially impair Tenan from, the Premises or threaten or endanger the health   or safety of Tenant or Tena 15. MUTUAL WAIVER OF SUBROGATION. For the pmpose   of waiver of subrogation, the parties mutually release and rights to claim   damages, costs or expenses for any injury to propetty caused by matter   whatsoever in, on or about the Premises if the amount of such damage, c paid   to such damaged party tmder the terms of any policy of insurance or woul   injured party had catTied the insurance required of it hereunder. All insuran   respect to this Lease, if permitted under applicable law and if agreed by the   i contain a provision whereby the insurer waives, prior to loss, all rights   of su Landlord or Tenant. 16. SIGNS AND ADVERTISING. Landlord shall install,   at Landlord's sole cost and expense, the initial tena in accordance with   building standards at or near the suite entrance to the Premi located in the   lobby of the Building. Any additional signage or replacement or signage shall   be at Tenant's sole cost and expense. In order to provide architectural   control for the Building and the Busines install any exterior signs,   marquees, billboards, outside lighting fixtures and/or Building, the Premises   or the Common Areas. Landlord shall have the right to r other decoration   restore fully the Building, the Premises or the Common Areas at of Tenant if   any such exterior work is done without Landlord's prior written a 

    

 

Tenant may   install, at Tenant's sole cost and expense, tenant ide monument sign for the   Building in a location detennined by Landlord in a standards and subject to   any applicable governmental laws or regulations (the "M shall maintain   the Monument Sign at Tenant's sole cost and expense. At the e removal of the   Monument Sign Tenant shall pay all costs to remove the Monume damage caused.   Additionally, Tenant shall have the right, at its expense, to crea the glass   door at the entrance to the Premises in accordance with plans approved   Landlord. 17. LANDLORD'S RIGHT OF ENTRY. Landlord, and those persons   authorized by it, shall have tl1e right to e reasonable times and upon   twenty-four hours advance notice (except in the ev which case notice is not   required) for the purposes of making repairs, makin utilities, providing   services to the Premises or for any otl1er tenant, making ins same to   prospective purchasers, lenders or prospective tenants (during the la Term),   as well as at any time without notice in the event of emergency invo propetty   or persons in or around the Premises or the Building, provided, how Landlord   will use its commercially reasonable efforts to minimize any interferen   mjjoyment ofthe Premises, by reason of such entry. 18. INTENTIONALLY OMITTED.   19. EMINENT DOMAIN. If any substantial portion of the Premises or of the   parking lot is ta eminent domain (including any conveyance made in lieu   thereof) or if such takin the normal operation of Tenant's business, then   either party shall have the right t giving written notice of such termination   within thirty (30) days after such takin to terminate this Lease, Landlord   shall repair and restore the Premises to the condition (but only to the   extent of any condemnation proceeds made availab Annual Rental shall be   proportionately and equitably reduced as of the date oftl not able to or does   not fully restore the Premises in the same manner and timefr 13 hereof witl1   respect to casualty events, Tenant may terminate this Lease. Al for any   taking (or the proceeds of a private sale in lieu thereof) shall be the prope   such award is for compensation for damages to the Landlord's or Tenant's inte   Tenant hereby assigns all of its interest in any such award to Landlord;   provided, not have any interest in any separate award made to Tenant for loss   of business taking of Tenant's trade fixtnres or equipment if a separate   award for such item such separate award does not reduce the award to   Landlord. Notwithstanding tl shall Tenant be entitled to any compensation for   the loss of its leasehold estate. 20. EVENTS OF DEFAULT AND REMEDffiS. (a)   Upon the occurrence of any one or more of the following events 

    

 

failure is   deemed an "Event of Default" only one (1) time in any tw period);   (ii) Tenant's failure to perform any other of the terms, contained in this   Lease if not remedied within thirty (30) days after thereof, or if such   default cannot be remedied within such period, Tena (30) days after written   notice thereof commence such act or acts as shal the default and shall not   thereafter diligently prosecute such cure and c within ninety (90) days after   written notice thereof: (iii) Tenant shall become bankrupt or insolvent, or   file any d pursuant to any statute a petition in bankruptcy or insolvency or   for petition for the appointment of a receiver or trustee for all or   substantia and such petition or appointment shall not have been set aside   within n date of such petition or appointment, or if Tenant makes an assign   creditors, or petitions for or enters into a similar atTangement; or (iv) A   default by Tenant under any other lease heretofor Tenant for any other space   in the Business Parle. (b) In addition to its other remedies, Landlord, upon   an Event of have the immediate right, after any applicable grace period expressed   herein, to t Lease and/or terminate Tenant's right of possession and reenter   pursuant to su and remove all persons and properties fi·om the Premises and   dispose of such pm without being guilty of trespass or being liable for any   damages caused thereby. Premises, it may either te1minate this Lease or,   fi:om time to time without tenninate Tenant's right of possession and make   such repairs as may be necessa the Premises and relet the Premises upon such   tetms and conditions as Landlord any responsibility on Landlord whatsoever to   account to Tenant for any surp retaking of possession of the Premises by   Landlord shall be deemed as an electio unless a written notice of such   intention is given by Landlord to Tenant at t notwithstanding any such   reentty or reletting without termination, Landlord ma elect to tenninate for   such previous default. In the event of an elected terminati before or after   reenny, Landlord may recover from Tenant damages, including th Premises and   any reasonable and customary costs incurred in reletting the Pre remain   liable to Landlord for the total Annual Rental (which may at Landlord's e be   due and payable in full as of the Event of Default and recoverable as d   discounted to present value at 5% per atmum) as would have been payable by remainder   of the term less the rentals actually received fi·om any reletting or, at the   reasonable rental value of the Premises for the remainder of the term. In   Rental which would be payable by Tenant subsequent to default, except with   res (which shall be calculated in accordance with Section !(g) hereof), the   Annua Year of the unexpired term shall be equal to the Annual Rental payable   by Tena prior to the default. If any rent owing under this Lease is collected   by or thro 

    

 

21. SUBORDINATION.   This Lease is subject and subordinate to any and all mortgages or deeds on   the property of which the Premises is a pmt, and tl1is clause shall be   self-oper instrument necessary to effect such subordination; however, if   requested by promptly execute and deliver to Landlord IDlY such   certificate(s) in a commerc Landlord may reasonably request evidencing the   subordination of this Lease to, Lease as additional security for, such   mortgages or deeds of trust. Subject to tl1e Landlord provide Tenant with a non-disturbance   agreement in a commercially re Tenant from any mortgagee, trustee or   beneficiary, this Lease shall be subject mmtgage or deed of tmst which may   hereafter encumber the propeJty of whic Tenant's obligations under this Lease   shall continue in full force and effect n default proceedings under a   mortgage or deed of trust and shall attom to th beneficiary of such mmtgage   or deed oftmst, and their successors or assigns, an any foreclosure or   default proceedings. Tenm1t will, upon request by Landlor Landlord or to any   other person designated by Landlord, any instmment or instru reasonable form   required to give effect to the provisions of this Section. ASSIGNMENT AND   SUBLETTING. 22-Tenant shall not assign, sublet, mmtgage, pledge or encumber   this Lea interest in the whole or in any poJtion thereof, directly or   indirectly, without tl1e Landlord, which consent shall not be unreasonably   withheld, conditioned, or dela assignment, sublease, mmtgage, pledge or   encUlllbrance, Tenant shall: (i) remain petformance of all terms of this   Lease, (ii) pay all reasonable costs incmred by with such assignment,   sublease or mmtgage, including without limitation, attom exceed $1,500.00 so   long as Tenant utilizes Landlord's standard fmm withou changes, and (iii) pay   to Landlord one-half of any rental or any fees or charge excess of the Annual   Rental payable to Landlord hereunder as futther renta deducting Tenant's   actual and reasonable costs incurred in connection with such Landlord's   consent to one assignment or sublease will not waive the requirem subsequent   assignment or sublease as required herein. Any attempted assignme in   violation of the terms and conditions of this numbered Section 22 shall be   nul to Landlord of a proposed sublease or assignment of all or any portion of   the Space"), Landlord shall have the option, within fifteen (15) days   after its re terminate this Lease with respect to the Proposed Space,   whereupon the pmti fmther rights or liabilities with respect to the Proposed   Space except as othe herein and ui1less Tenant within ten (I0) days of   receipt of Landlord's notice Proposed Space rescinds its request for such   consent. In the event of a proposed assignment of this Lease or subletting of   all o Tenm1t shall submit to Lm1dlord, in writing, (i) the uame of the   proposed as current financial statements available to Tenant disclosing the   financial co assignee or subtenant, (iii) the nature of the business of tl1e   proposed assign 

    

 

assignment or   sublease in writing. Tenant shall promptly deliver a copy of the f or   sublease to Landlord upon its receipt of same. Notwithstanding anytl1ing in   this Lease to the contrary, Tenant further ag or sublease shall be subject to   the following additional limitations: (i) in no even Lease or sublet all or   any portion of the Premises to an existing Tenant of subtenant or assignee   (unless Landlord consents to such assignment or sublease) proposed subtenant   or assignee be a person or entity with whom Landlord or its to or from whom   Landlord, or its agent, has given or received any written propo months   regal'ding a lease of space in the Business Pal'k; and (iii) Tenant shall n   mte for which Tenant is willing to sublet the Premises; and all public adve1tisem   the Lease Ol' sublet of the Premises, or any portion thereof, shall be   subject to Landlord, such approval not to be umeasotJably withheld or   delayed. Said p include, but not be limited to, the placement or display of   any signs or letteri Premises or on the glass or any window or door of the   Premises or in the interi visible from the exterior. Notwithstanding the   conditions set forth in Section 22 of the Lease, Tena (30) days advance   written notice to Landlord (but without Landlord's consent), an entity into   or with which Tenant is merged or consolidated or to which sub assets or   stock are transferred, provided such merger or transfer of assets or stock   purpose of transfen·ing the leasehold estate created by this Lease, and   provided shall have a net wortl1 of not less than Tenant's net worth on the   Commenceme tl1at controls Tenant or is controlled by Tenant or is under   common control remains primarily liable after such assignment (either of (i)   or (ii) being referre Assignee"). Tenant shall notify Landlord at least   tlilrty (30) days before consu111tnated and furnish to Landlord docmnentation   that such assignee qualifi hereunder. The term "control" as used in   this paragraph shall mean ownership outstanding capital stock of that   corporation and control over the management of 23. LANDLORD DEFAULT. In the   event of any default by Landlord under this Lease, Tenant will giv specifying   such default with patticularity, a11d Landlord shall thereupon have t longer   peliod as may be required in the exercise of due diligence) in which to c the   event Landlord's cure of any default will take longer than ninety (90) day   Tenant with a timeline for the completion of such cure. Unless and until Land   default after such notice, Tenant shall not have any remedy or cause of   action obligations of Landlord hereunder will be construed as covenants, not   condition other provisions of this Lease to the contrmy, Tenm1t shall look   solely to Building, and not to any other or separate business or non-business   assets of L member, shareholder, officers or representative of Landlord, for   the satisfaction Tenant against Landlord, and if Landlord shall fail to   pe1form any covenant, t Lease upon Landlord's part to be performed, and as a   consequence of such defau 

    

 

 

24. TRANSFER OF   LANDLORD'S INTEREST. If Landlord shall sell, assign or transfer all or any   pmi of its interest i Lease to a successor in interest which expressly   assumes all the obligations of L accrue prior to or after such transfer, then   Landlord shall thereupon be release covenants and obligations hereunder, and   Tenant shall look solely to such s performance of all of Landlord's   obligations and such successor shall be obl Landlord's obligations under this   Lease.Tenant's obligations under this Leas affected by Landlmd's sale,   assignment, or transfer of all or any part of such int Tenant shall   thereafter attorn and look solely to such successor in interest as the L 25.   COVENANT OF QUIET ENJOYMENT. Landlord represents that it has full right and   authority to lease the Pr peacefully and quietly hold and enjoy the Premises   for the full Term hereof Default occurs and is continuing hereunder. 26.   ESTOPPEL CERTIFICATES. Within ten (10) business days after a request by   Landlord, Tenant shall d ce1tificate, in form supplied by or acceptable to   Landlord, certifYing any facts respect to this Lease, including without   limitation that this Lease is in full force of Default exists on the pmi of   Landlord or Tenm1t, that Tenant is in poss commenced the payment of rent, and   that Tenant claims no defenses or offsets wi rentals under this Lease. In the   event Tenant fails to provide such an estoppel above then all items noted in   the estoppel shall be deemed confirmed by Tenant on such estoppel as being   corr-ectWithin thirty (30) days after a request by deliver to Tenant a   similar estoppel celiificate as noted above covering such m required by   Tenant. 27. PROTECTION AGAINST LIENS. Tenant shall do all things necessm-y to   prevent the filing of any mech other types of liens whatsoever, against all   or any part of the Premises by reason against, through or under Tenant. If   any such lien is filed against the Premises, the same to be dischm·ged of   record within twenty (20) days after Tenant has Tenant in its discretion and   in good faith determines that such lien should be c such security as may be   necessm-y to prevent any foreclosure proceedings against pendency of such   contest. If Tenant shall fail to discharge such lien within sa furnish such   security, then Landlord may at its election, in addition to any other r to   it, discharge the lien by paying the amount claimed to be due or by procming   security or in such other mmmer as may be allowed by law. If Landlord acts to   lien then Tenant shall immediately reimburse Landlord for all sums paid and   (including reasonable attorneys' fees) incurred by Landlord involving such   lien t the total expenses and costs at an interest rate equal to the Prime   Rate plus five pe 28. MEMORANDUM OF LEASE. 

    

 

the Tenn   expires, an instrument in such form acknowledging the fact and date of shall   not be recorded. 29. FORCE MAJEURE. In the event Landlord or Tenant shall be   delayed, hindered or prevented any act required hereunder, by reason of   govenunental restrictions, scarcity of la fire, or any other reasons beyond   its reasonable control, the perfmmance of such the period of delay, and the   period for performance of any such act shall be e complete performance after   the delay period. However, the provisions ofthis S applicable to a party's obligations   to pay Annual Rental or any other sums, m expenses required by this Lease.   30. REMEDIES CUMULATIVE--NONWAIVER. Unless otherwise specified in this Lease,   no remedy of Landlord or Te exclusive of any other remedy, but each shall be   distinct, separate and cumula remedies. Each remedy available under this   Lease or at law or in equity may be Tenant fi·om time to time as often as the   need may arise. No course of dealin Tenant or any delay or omission of   Landlord or Tenant in exercising any rig party's default shall impair such   right or be construed to be a waiver of a default. 31. HOLDING OVER. If   Tenant remains in possession of the Premises or any part thereof af Term,   without Landlord's acquiescence, Tenant shall be deemed only a tenant a no   renewal of this Lease without a written agreement signed by both pruties   speci "monthly" rental payable by Tenant during any such tenancy at   will period sh percent (150%) of the monthly installments of Annual Rental   payable durin immediately preceding such expiration. Tenant shall also remain   liable for any and consequential, suffered by Landlord as a result of any   holdover without Lru1d NOTICES. 32. Any notice allowed or required by this   Lease shall be deemed to have b the same shall be in writing and placed in   the United States mail, via certified retum receipt requested, with proper   postage prepaid or delivered by a national comier and addressed to the   appt:opriate party at the address set forth in Section I The addresses of   Landlord and Tenant and the party, if any, to whose atte same shall be   directed may be changed or added from time to time by either p other in the   prescribed manner. LEASING COMMISSION. 33. Landlord and Tenant represent and   warrant eacl1 to the otl1er that they broker(s) or any other person claiming   any entitlement to any commission transaction except the Broker(s) set forth   in Section I (m) hereof. Tenant agree 

    

 

agrees to   indemnifY and save Tenant harmless fi·om and against any and all claim   judgments and expenses, .including reasonable attorneys' fees, for any leasin   commissions, fees, charges or payments resulting from or arising out of its   action Lease. Landlord agrees to be responsible for the leasing commission   due Brok written agreement between Landlord and Broker, and to hold Tenant   harmless res 34. MISCELLANEOUS. (a) Rules and Regulations. Landlord shall   have the right from time to time to prescribe reasonable r "Rules and   Regulations") for Tenant's use of the Premises and the Building. current   Rules and Regulations respecting the Premises and the Building is attach   Tenant shall abide by and actively enforce on all Tenant's Invitees such   regul limitation rules governing parking of vehicles in designated areas and   during desi (b) Evidence of Authoritv. If requested by Landlord, Tenant shall   fumish appropriate legal docum valid existence and good standing of Tenant   and the authority of any parties sig Tenant. (c) Nature and Extent of   Agreement. Tllis Lease, together witi1 all exhibits hereto, contains ti1e   complete a concerning the subject matter, and ti1ere are no oral or written   understandi agreements pe1taining thereto which have not been incorporated   herein.Thi relationship of landlord and tenant between the parties, and   nothing herein shall i any powers, obligations or restdctions not expressed   herein. This Lease shall be by the laws of the state in which the Premises   are located. (d) Binding Effect. This Lease shall be binding upon and shall   inm-e to ti1e benefit of the respective heirs, successors and assigns. This Lease   shall not be binding on La an authorized signatory of Landlord and delivered   to Tenant. No amendment Lease shall be binding upon Landlord unless same is   in writing and executed by ofLandlord. (e) Captions and Headings. The   captiollS and headings in this Lease are for convenience and referen no way   be held to explain, modifY, or construe tile meaning of tile terms of this Le   (f) Lease Review. The submission of ti1is Lease to Tenant for review does not   constitute a for the Premises, and this Lease shall become effective as a   contract only upon e 

    

 

(g) Prevailing   Pattv. If either Landlord or Tenant places in the hm1ds of an attomey the   enfo any portion thereof, for the collection of any rent due or to become due   hereu possession of the Premises, Ol' file suit upon same, the non-prevailing   (or defau other party reasonable attomey's fees and court costs. (h) Security   Deposit. Tenant has paid to Landlord upon sigt1ing this Lease the Security   Depos I (I) as security for Tenant's perfmmance of all obligations herennder.   The Secu by Landlord in such manner as it shall elect and Landlord shall be   entitled to an on the Deposit. In the event of a default by Tenant not cured   within the notice a herein, Landlord may, at its option, apply all or any patt   of the Security Deposi thereupon Tenatlt shall promptly redeposit with   Landlord the ammmt so applie will always have the full Security Deposit on   hand during the term of this Lease following the expiration or earlier   termination of this Lease, provided that hereunder, Lat!dlord shall refund to   Tenant any offue remaining balance of the to final adjustments for payment of   any rental required by this Lease. If the B shall have the right to transfer   the Security Deposit to the new owner, and upon assumption of the obligations   for the Security Deposit required by this Lease, Lan released fi·om all   liability for such Security Deposit, and Tenant thereafter sh owner for such   Security Deposit. The terms hereof shall apply to evety transfer o (i)   Intentioually deleted. Q) Representations and Warranties. The person or   persons executing this Lease on behalf of Tenant represe to Landlord as of   the date Teuantexecutes and delivers tl1is Lease that: (a) Tena good standing   and qualified to do business in the State of Nmth Cm·olina, corporate taxes   (if applicable), (c) Tenant will file when due all fonns, reports, f   necessaty to comply with applicable laws, and (d) the signatories signing on   b requisite authority to bind Tenant pursuant to Tenant's organizati.onal doc   agreement, operating agreement or bylaws) or a ce1tified copy of a resolution   same. (k) Building Access. There shall be open access to the Building during   Standard Hours defined). At all other times, access to the Building shall be   restricted by use o system at all entrances to the Building. Landlord shall,   furnish Tenant on or bef Date, at no cost to Tenant, up to four (4) access   cards or keys per 1,000 rentable Tenant (as of the Commencement Date) as   requested by Tenant for entering tl1e hereof, any such access cards, keys or   other comparable access devices are co "access cards." Thereafter,   additional access cards and replacement access card shall be made available   to Tenant at a charge equal to $15.00 per card (subject by Landlord from time   to time) upon Landlord's receipt of an order signed 

    

 

Landlord's   written permission and locks on any interior door shall be peimitted locks   are permissible under applicable laws and relevant insurance requirement this   Lease, Tenant shall surrender to Landlord all access cards and keys related t   to Landlord the combination of all locks for safes, safe cabinets and vault   doors Premises and in the event Tenant fails to return all such access cards   to Landlord Tenant shall pay Landlord $15.00 for each such access card not   returned to Landl (1) Financial Disclosures. Tenant shall at any time upon   receipt o Landlord (such request to be made no more than twice in any Lease   Year), pro accurate fmancial information and documentation about itself and   any Guaranto (10) business days after such request. The individuals executing   this Lease on represent and warrant to Landlord that the financial statements   and other in Landlord by Tenant prior to the execution hereof are true,   complete and acc accordance with generally accepted accounting principles   applied on a consiste reflect Tenant's net worth as of the date hereof.   Landlord covenants and agre confidential; provided, however, Landlord may   share the infmmation contained its legal counsel, accountants and employees,   prospective pmchasers and lenders requires such parties to be bound by the   confidentiality provisions herein, an required by applicable law. . (m)   Intentionally omitted. (n) OFAC Compliance. Tenant represents and warrants   that (a) Tenant and each person or enti Tenant is (i) not currently   identified on the Specially Designated Nationals an maintained by the Office   of Foreign Assets Control, Department of the Treasury ( other similar list   maintained by OFAC pursuant to any authorizing statute, exec (collectively,   the "List"), and (ii) not a person or entity with whom a citizen   prohibited to engage in transactions by any trade embargo, economic sanction,   United States law, regulation, or Executive Order of the President of the   United funds o1· other assets of Tenant constitute prope1ty of, or are   beneficially owned, d any Embargoed Person (as hereinafter defined), (c) no   Embargoed Person has an whatsoever in Tenant (whether directly or   indirectly), (d) none of the funds of T from any unlawful activity witl1the   i·esult that the investment in Tenant is prohi Lease is in violation oflaw,   and (e) Tenant has implemented procedures, and will procedures, to ensure the   foregoing representations and· wal1'anties remain true The term   "Embargoed Person" means any person, entity or government subj   under U.S. law, including but not limited to, the International Emergency Eco   U.S.C. §1701 et seq., The Trading witl1 the Enemy Act, 50 U.S.C. App. 1 et s   Orders or regulations promulgated tl1ereunder witl1 tl1e result that the investment   by law or Tenant is in violation oflaw. Tenant covenants and agrees (a) to   comply with all requirements of laundering, anti-terrorism, trade embargos   and economic sanctions, now or he immediately notifY Landlord in writing if   any of the representations, warranties this paragraph or tl1e preceding   paragraph are no longer true or have been brea 

    

 

Landlord, to   provide such information as may be requested by Landlord compliance with the   terms hereof. Tenant hereby acknowledges and agrees that Tenant's inclusion   on th the Lease Tenn shall be a material default of the Lease.   Notwithstanding anythi Tenant shall not permit the Premises or any portion   thereof to be used or occupie on the List or by any Embargoed Person (on a   permanent, temporary or transient or occupancy of the Premises by any such   person or entity shall be a material def In connection with this Lease or any   proposed Assignment of this Lease provide to Landlord the names of the   persons holding an ownership interest in assignee or sublessee, as   applicable, for purposes of compliance with Presidentia (issued September 24,   2001), as amended. 35. SEVERABILITY. If any term or provision of this Lease   or the application thereof to any shall, to any extent, be invalid or unenforceable,   the remainder of this Lease, o term or provision to persons or circumstances   other than those as to whic unenforceable, shall not be affected thereby, and   each term and provision of this enforced to the fullest extent permitted by   law notwithstanding the invalidit provision hereof. 36. RIGHT OF FIRST OFFER.   Provided (i) no Tenant default has occmTed and is then continuing hereu not   assigned this Lease nor sublet all or any p01tion of the Premises, following   t Tenant shall have a continuing right of first offer (the "Right of   First Offer") to the second floor of the Building (the "Expansion   Space") at such time as said E available for lease during the initial   Lease Term (or following it becoming availa if such space is currently vacant);   provided, however, Tenant shall have no righ the Expansion Space which is   re-leased to existing tenants occupying such space Offer is subordinate to   any party that has previously been granted a right of fi refusal for the same   space or portion thereof, and the Right of First Offer s Expansion Space   being offered and not any smaller portion. At such time as the becomes   available for lease and prior to marketing the Expansion Space for lea   Landlord shall notify Tenant in WTiting of Landlord's intention to market the   E rental rate and terms and conditions of lease which Landlord intends to   propose (collectively, the "Offer Terms"). Tenant shall have ten   (10) days after its receipt of such written notice fr of Intent Negotiation   Period") to provide written notice to Landlord evidencing Right of First   Offer and to lease the Expansion Space in accordance with such shall not,   during the Letter of Intent Negotiation Period, lease, offer to leas   Expansion Space to any other party unless Tenant advises Landlord that Tenant   is the Expansion Space in accordance with the Offer Tenns. In the event that   Tena Offer Terms during the Letter of Intent Negotiation Period, then, after   such perio 

    

 

In the event   Tenant agrees to the Offer Terms within the Letter of Inte hereinabove   described, then Tenant and Landlord will negotiate in good faith a agreement   for the lease of the Expansion Space.Landlord shall not, during period   immediately following Tenant's agreement to the Offer Terms (the "Lea   lease, offer to lease or agree to lease the Expansion Space to any other   party. I and Tenant are unable in good faith to agree to the terms of such   lease withi Period, then thereafter Landlord may market the Expansion Space   upon such ter reasonably acceptable to Landlord whereupon Tenant shall have   no finther ri Expansion Space until such time as the Expansion Space again   becomes availa Tenant shall again have the option to exercise this Right of   First Offer. 

    

 

IN WITNESS   WHEREOF, the parties have caused this Lease to be d pursuant to authority   duly given as of the day and year f11·st above written. "LANDLORD"   PALLADIAN CENTER LLC, a Delaware limi By:---- =--------------Name: James L.   Dean II Title: Vice President ''TENANT" PAIDION RESEARCH, INC., a North   Carolin 

    

 

IN WITNESS   WHEREOF, the parties have caused this Lease to be pursuant to authority duly   given as of the day and year first above written. "LANDLORD"   PALLADIAN CENTER LLC, a Delaware lim By' Name: James L. DeahI Title: Vice   President "TENANT" PAIDION RESEARCH, INC., a North Caroli By: Name:   Title: -------------------------- 

    

 

EXffiBIT   "A" FLOOR PLAN Suite 250 Palladian II 240 Leigh Farm Road, Durham,   North Carolina 

    

 

EXIITBIT   "A-1" FLOOR PLAN 0 liD SU Suite 245 Palladian IT 240 Leigh Fann   Road, Durham, North Carolina 

    

 

EXHIBIT   "B" RULES AND REGULATIONS The following rules and regulations have   been adopted by the Landlord and benefit of the Building and for the general   comfort and welfare of the tenants I. The sidewalks, entrances, halls,   passages, elevators and stauway by the Tenant or used by him for any other   purpose than for ingress and egress. 2. Toilet rooms and other water   apparatus shall not be used for any for which they are constructed. 3. The   Tenant shall not do anything in the Premises, or bring o which shall in any   way conflict with any law, ordinance, rule or regulation affe use of the   Premises, which are or may hereafter be enacted or promulgated by a the Board   of Fire Underwriters. 4. In order to insure proper use and care of the   Premises, neither t employee of the Tenant shall: (a) Allow any furniture,   packages or articles of any kind to remai shoJi periods incidental to moving   same in or out of Building or to cleaning or r leased space. (b) Maintain or   utilize bicycles or other vehicles in the Building. {c) Mark or defile   elevators, toilet rooms, walls, windows, doors or a (d) Keep animals or birds   on the Premises. (e) Deposit waste paper, diti or other substances in   conidors, stair restrooms, or any other pmi of the Building not leased to   Tenant. (f) Fasten any atticle, drill holes, drive nails or screws into   walls, fl or othetwise mar or deface any of them by paint, papers or   otherwise, unless obtained from the Landlord. (g) Operate any machinery   within the Building except customary o dictaphones, calculators, electric   typewritet·s, and the like.Special equipment o trade or profession of the   Tenant may be operated only with the prior written cons (h) Tamper or interfere   in any way with windows, doors, locks, ai heating, lighting, electric or   plumbing fixtures. (i) Leave Premises unoccupied without locking all doors,   extingui off all water outlets. 

    

 

5. The Landlord   shall have the right to prohibit any adveriising by opinion, tends to damage   the reputation of the Building or its desirability, and Landlord, the Tenant   shall discontinue any such adve1iising. 6. The Landlord reserves the right to   designate the time when and furniture, safes, goods, merchandise and other   articles may be brought into, m Building and the Premises leased by the   Tenant; and wor!Gnen employed, desig Landlord must be employed by Tenant for   repairs, painting, material moving an may be done on the Premises. 7. The   Tenant will reimburse the Landlord for the cost of repai Premises or other   pmis of the Building caused by the Tenant or the agents or e including   replacing any glass broken. 8. The Landlord shall furnish a reasonable number   of door keys for which shall be suJTendered on expiration of the Lease, and   reserves the right to r their return at expiration of Lease. The Tenant shall   obtain keys only fi·om the L duplicate keys from any outside source, and   shall not alter the locks or effect any 9. · of excessive Landlord. The   Tenant shall not install in the Premises any metal safes or weight in any   pmiion thereof without first having obtained th 10. The Landlord reserves the   right at all times to exclude news solicitors and peddlers, from the Building   m1d to require registration, satisfa credentials from all persons seeking   access to any pmi of the Building outside o Operation. The Landlord will   exercise its best judgment in the execntion of such held liable for the   granting or refusal of such access. The Landlord reserves general public from   the Building after ordinary business hours and on weekends a 11. The   attaching of wires to the outside of the Building is absol wires shall be run   or installed in m1y pmt of the Building without the Lm1dlord's p 12. Requests   for services of janitors or other Building employee Landlord. Agents or   employees of Landlord shall not perform any work or do regular duties unless   under special instructions fi·om Landlord. 13. Signs or any other tenant   identification shall be in accordance sig11age. No signs of any nature shall   be placed in the windows so as to be visibl Building. All sigus not approved   in writing by the Landlord shall be subject to re 14. Any improvements or   alterations to the Premises by Tenant shall by the Landlord and all such work,   if approved, shall be done at the Tenant's supervision of the Landlord. 15.   Tenant shall have a non-exclusive right to use all driveways and for Tenant   and Tenant's employees, if deemed necessmy by Landlord. Landlord not the   obligation) to tow, at the owner's expense, any vehicles parked overnigh 

    

 

Business Park,   or (iii) is otherwise inconsistent with the image and reputation o first   class development. 16. If additional drapes or window decorations are desired   by Tenan by Landlord and installed at the Tenant's expense under the   direction of the Lan visible from the exterior shall be of a color approved   by Landlord. 17. Premises. TI1e possession of weapons, including concealed   handguns, is 18. No smoking shall be pennitted within any portion of the   Building 19. The Landlord shall have the right to make such other and furt   regulations as, in the judgment of the Landlord, may fi'om time to time be   neces and cleanliness of the Premises, the Building or adjacent areas, and   for the pre therein effective five (5) days after all tenants have been given   written notice ther 

    

 

EXHIBIT   "C" WORKLETTER This Workletter (the "Workletter") sets   fmth the rights and obligations with respect to space planning and preparing   fmal construction drawings, a installation of any improvements to the   Premises to be completed before th ("Tenant Improvements").   Landlord and Tenant mutually agree to the following: L Allowance. In   consideration of Tenant's initial construction of the Premis and upon   completion of the Tenant Improvements in accordance with Ten Landlord,   Landlord agrees to contribute, towards the costs of the Tenant Imp to Ten and   00/100 Dollars ($10.00) per square foot of Suite 250 and Sui   "Allowance"). Up to Seven and 00/100 Dollars ($7.00) per square   foot of utilized to cover costs associated with Tenant's personal prope11y,   furn fixtures, moving expenses, signage and for payment of Minimum Rent for p   where Minimum Rent is otherwise abated under the Lease, upon Wl·itten req   work costing in excess of the Allowance, Tenant shall pay a construction percent   (3%) of the total cost of planning and construction if such constr Hundred   Thousand and No/100 Dollars ($100,000.00); and five percent ( planning and   construction if such construction costs are One Hundred Thous ($1 00,000.00)   or less. 2. Plans. a. Tenant, at Tenant's expense, which expense may   Allowance, shall provide and designate designers and engineers (c reasonably   acceptable to Landlord, which Designer will complete cons drawings and   specifications as required to construct the Premises, a comply with the   following: i. Tenant shall provide one complete space plan order to obtain   Landlord's approval of snch space plan (the "Spa Complete constmction   drawings for Tenant's p jj, ceiling grid, telephone and electrical outlets,   keying, and finish Drawings") based on the Space Plan. iii. Complete   building standard mechanical plans installation of air conditioning system   and duct work, and heating for the work to be done in the Premises   ("Mechanical Draw Construction Drawings and Mechanical Drawings are collect   "Plans»). b. The Plans shall be subject to Landlord's prior written ap   modifications Tenant desires to make to the Plans shall also be subj 

    

 

3. Work and   Materials at Tenant's Expense. c. Tenant shall select Contractors licensed in   State in located, to provide the work and materials to construct the Tenant   Imp Landlord shall first approve such Contractors, such approval not to b   conditioned or delayed. If required to ensure compliance with any appli shall   have the right to reasonably designate a particular trade contract Tenant   Improvements which could affect such warranty. d. All Tenant Improvements   shall be constructed by Tena approved Plans and all applicable building codes   and all other ap regulations. Tenant shall obtain a certificate of occupancy,   if applicabl completion of the Tenant Improvements. e. Upon completion of the   Tenant Improvements and prior Allowance or ush1g it as a rent credit, Tenant   shall deliver to Landlord: in reasonable detail the work that has been performed;   (ii) final r contractors, subcontractors and materialmen performing any work   or pr the Tenant Improvements, and from any persons who have filed any n   connection with the Tenant Improvements, in form and content reasona or its   lender; and (iii) any suppmting doc11111entation evidencing fmal co for the   Tenant Improvements reasonably requested by Landlord or its anything else   contained in the Lease, only fifty percent (50%) of the All for Tenant's use   prim·to December 31, 2014. Beginning January l, 201 other fifty percent (50%)   of the Allowance along with any unused p percent (50%), provided, however, in   no event shall the Allowance b December 31, 2015 and any unused pmtion on   such date shall be deemed After completion of the items above Landlord shall   pay to Tenant Contractors or Designer from the Tenant Improvement Allowance. 

    

 

EXHIBIT   "D" OPTION TO EXTEND Notice and Exercise. Provided no Tenant   default has occurred and i I. this Lease and Tenant has not assigned this   Lease nor sublet all or any portion o hereby granted the option to extend the   Term twice for additional periods of t "Extension Term(s)")   commencing upon the expiration of the initial Tenn or applicable, on the same   terms and conditions as contained in the other provision any upfitting   allowance (Tenant accepting the Premises in its "as, is" condit   options and as otherwise provided in this Exhibit. The options shall be   exerci written notice (the "Renewal Notice") to Landlord prior to   that date which is nin scheduled Expiration Date referred to in Section l (f)   of this Lease (the "Option T Minimum Rental for the Premises shall be   100% of the then fair market rental (" to the Premises. Except as   otherwise set fmth herein, Tenant's occupancy of Extension Term(s) shall be   subject to all other terms and conditions of this Le without limitation, the   obligation to pay the Tenant Contribution. 2. Determination of Market Rate.   For purposes of this Exhibit "D", the te mean the annual amount per   rentable square foot that comparable landlords of the Raleigh/Durham market   have accepted in then-cun-ent transactions betwe from new, non-expansion,   non-renewal (unless the lease involved a procedure i tenant for a 100%   determination of "fair market rental") and non-equity tenan wmthiness,   for comparable space, for a compar·able use, for a comparable perio   Transactions"). In any detennination of Comparable Transactions   appropriat given to the annual rental rates per rentable square foot, the   standard of mea rentable square footage is measured, the ratio of rentable   square feet to usable escalation clause implemented, the extent of tenant's   liability w1der the lease, length of the lease term, size and location of   premises being leased, at1d ot conditions of tenancy for such Comparable   Transactions. The intent is that Ten rent and other economic benefits that   Landlord would otheJwise give in Comp that Landlord will make, and receive   the same economic payments that Landlord and receive in Comparable   Transactions. Landlord shall detennine the Mar·ket Rate by using its good   faith judg Tenant, Landlord shall provide Tenant written notice of such   amount thirty (30) Te1mination Date. In the event Tenant exercises its option   to extend the Term pursuant to th and Tenant shall execute an amendment to   the Lease stating the new expiration d new Minimum Rent in effect. 

    

 

THIS FIRST   AMENDMENT TO LEASE (this "First Amendment") is entered into ember   18, 2015 (the "Effective Date") by and between PALLADIAN CENTER   LLC, a D ed liability company ("Landlord") and PAIDION RESEARCH,   INC., a North Carolina corp nant"). WIT N E S S E T H: A. Landlord and   Tenant entered into a Lease dated as of April 10, 2014 (the " e"),   whereby Landlord leased to Tenant and Tenant leased from Landlord   approximately ble square feet ("Suite 250") located on the second   (2nd) floor of the Building (as defined e) at 240 Leigh Farm Road, Durham, NC   and 6,941 rentable square feet ("Suite 245") located nd (2nd) floor   of the Building which will be added to Suite 250 on April 1, 2017 (the   iguration of the leased space being defined as the "Premises"); and   B. Tenant and Landlord desire to amend the Original Lease (i) to allow Tenant   to ap ed portion of the Allowance, as defined in the Lease, toward the   payment of Minimum Rental ce the size of the right of first offer space, and   (iii) to modify other terms and conditions inal Lease, all in accordance with   the terms and conditions provided herein; and C. All capitalized terms not   otherwise defined herein shall have the respective mean in the Original   Lease. For purposes hereof, the Original Lease as amended by this First Ame   ferred to as the "Lease." NOW, THEREFORE, in consideration of the   agreements herein contained and other go able consideration, the receipt and   sufficiency of which are hereby acknowledged, the parties e as follows: 1.   Recitals. The recitals shall form a part of this First Amendment. 2.   Allowance Applied Toward Minimum Rental.Currently Forty-Three Thousa dred   Thirty-Four and 00/100 Dollars ($43,134.00) remains of the Allowance under   the Lea maining Allowance"). Landlord has agreed that so long as Tenant   is not in default under th nd applicable notice and cure periods, Tenant may   apply the Remaining Allowance tow ent of Minimum Rental under the Lease for   the months of October, November, and Decemb for a partial month of January   2016. For January 2016 Tenant shall owe the remaining am mum Rental due for   such month on or before January 1, 2016. Tenant shall have no other r ct any   portion of the Allowance. 3. Right of First Offer. The parties agree that the   Expansion Space, as defined in Sec e Lease, is hereby revised so that   "Expansion Space" shall mean only Suite 200 of the B h contains   approximately 1,961 rentable square feet as shown on Exhibit A-1 attached her   not apply to any other space in the Building. 4. Broker. Landlord and Tenant   represent and warrant each to the other that they h with any broker(s) except   CB Richard Ellis-Raleigh, LLC, which represents the Landlord a erties, Inc.,   which represents the Tenant (collectively, the "Broker") and   neither Broker is cl entitlement to a commission in connection with this   transaction. Tenant agrees to indemnify a 

    

 

action. 5.   Execution of Counterparts. This First Amendment may be executed in m   terparts, each counterpart being executed by less than all of the parties   hereto, and shall be tive as if a single original had been signed by all   parties; but all such counterparts shall be dee titute a single agreement,   and this First Amendment shall not be or become effective unless an of the   signatory parties below has signed at least one such counterpart and caused   the counte uted to be delivered to both of the other parties. 9. Authority.   Each individual signing this First Amendment on behalf of any party sents   that he or she has full right, power and authority to enter into this First   Amendment and party for which he or she purports to sign this First   Amendment. 10. Binding Agreement. This First Amendment is binding upon and   shall inure to the l parties hereto, and to their respective heirs,   executors, administrators, predecessors, succ ns, parents and subsidiary   corporations, divisions, officers, directors, partners, agents, attorne   oyees, as applicable. 11. Ratification. Except as expressly or by necessary   implication amended or m by, the terms of the Lease are hereby ratified,   confirmed and continued in full force and nt acknowledges that, to its   knowledge (i) Landlord is not in default under the Lease, and (i s no breach,   default, or event or condition which, with the giving of notice or the   passage of would constitute a breach or default by Landlord under the Lease.   To Tenant's knowledge, as hereof, there is no defense, offset, claim or   counterclaim by or in favor of Tenant against La r the Lease. Tenant   acknowledges all work to be performed by Landlord under the Lease h pleted in   accordance with the Lease and has been accepted by Tenant and all reimburseme   ances due to Tenant under the Lease have been paid in full. [Remainder of   Page Left Blank Intentionally] 

    

 

LANDLORD:   PALLADIAN CENTER LLC, a Delaware limited liabili company By: Name: James L.   DemliJ Title: Vice President TENANT: PAIDION RESEARCH, INC., a North Carolina   corpora l By: Name: Betsy Reid\ Its: Chief Operating Officer 9/A/;5 Date: 

    

 

11 ,.. ,. !;I   -,;.. ji: " z = j ' ',1 r: · ;;l ,. { OJ 1\) ...... .., ""'-.   0 • 1 "'1:11 f.; jlli c",. .. l,. ill IY '!: i;: . ). c OJ g I e 

    

 

 

EXHIBIT B

 

[Subleased Premises]

 

 

 

EXHIBIT C

 

[Demising Wall]EX-10.1

 Exhibit 10.1 

AUTODESK, INC. 
 ANDREW
ANAGNOST EMPLOYMENT AGREEMENT 
 This Employment Agreement (the “Agreement”) is entered into as of June 19, 2017, by and
between Autodesk, Inc. (the “Company”) and Andrew Anagnost (“Executive”). 
 1. Duties and Scope of Employment.

 (a) Positions and Duties. This Agreement is effective June 19, 2017 (the “Effective Date”). Pursuant to this
Agreement, Executive will serve as the Company’s President and Chief Executive Officer. Executive will report to the Company’s Board of Directors (the “Board”). Executive will render such business and professional services in the
performance of his duties, consistent with Executive’s position in the Company, as are reasonably assigned to him by the Board. The period Executive is employed by the Company under this Agreement is referred to herein as the “Employment
Term.” 
 (b) Board Membership. Effective as of the Effective Date, Executive will be appointed to serve as a member of the
Board. At each annual meeting of the Company’s stockholders during the Employment Term, the Company will nominate Executive to serve as a member of the Board. Executive’s service as a member of the Board will be subject to any required
stockholder approval. Upon the termination of Executive’s employment for any reason and unless otherwise requested by the Board, Executive will be deemed to have resigned from the Board (and all other positions held at the Company and its
affiliates) voluntarily and without further action from the Board, effective as of the end of Executive’s employment as President and Chief Executive Officer, and Executive, at the Board’s request, will execute documents necessary to
reflect his resignation. 
 (c) Obligations. During the Employment Term, Executive will devote his full business time and efforts to
the Company and he will use good faith efforts to discharge his obligations under this Agreement to the best of his ability and in accordance with each of the Company’s ethics guidelines, conflict of interest policies and Code of Business
Conduct. For the duration of the Employment Term, Executive agrees not to actively engage in any other employment, occupation, or consulting activity for any direct or indirect remuneration without the prior approval of the Board (which approval
will not be unreasonably withheld); provided, however, that Executive may, without the approval of the Board, serve in any capacity with any civic, educational, or charitable organization, provided such services do not interfere with
Executive’s obligations to Company. Executive may not serve, without the prior approval of the Board, as a member of the board of directors of any other for-profit companies. In each instance of Executive
joining or resigning from the board of directors of any for-profit company, Executive will provide advance notice to the Board. 

2. At-Will Employment. Executive and the Company agree that Executive’s employment with
the Company constitutes “at-will” employment. Executive and the Company acknowledge that this employment relationship may be terminated at any time, upon thirty (30) days written notice to the
other party, with or without good cause or for any or no cause, at the option either of the Company or Executive. However, as described in this Agreement, Executive may be entitled to severance and other benefits depending upon the circumstances of
Executive’s termination of employment. 
 3. Compensation. 

(a) Base Salary. Effective as of the Effective Date, the Company will pay Executive an annual salary at a rate of $800,000 per year, as
compensation for his services (such annual salary, as is then effective, to be referred to herein as “Base Salary”). The Base Salary will be paid periodically in accordance with the Company’s normal payroll practices and be subject to
the usual, required withholdings. 

  
 1 

 (b) Annual Incentive. Executive will be eligible to receive annual cash incentive
compensation payable for the achievement of performance goals established by the Board or by the Compensation Committee of the Board (the “Committee”) under the Company’s Executive Incentive Plan (“EIP”). During the
Employment Term, Executive’s target annual incentive (“Target Annual Incentive”) under the EIP will be not less than 125% of Base Salary and shall otherwise be subject to the terms of the EIP (or successor plan). The actual earned
annual cash incentive, if any, payable to Executive for any performance period will depend upon the extent to which the applicable performance goals specified by the Committee are achieved or exceeded as set forth in the EIP. Solely with respect to
the Company’s fiscal year 2018, Executive’s annual cash incentive compensation shall be equal to the sum of (i) his earned annual cash incentive based on his target annual incentive percentage and base salary as in effect immediately
prior to the Effective Date and prorated based on the number of days elapsed from the first day of such fiscal year to the Effective Date and (ii) his earned annual cash incentive based on his Target Annual Incentive and Base Salary and
prorated based on the number of days elapsed from the Effective Date to the last day of such fiscal year. 
 (c) Equity Compensation.

 (i) 2018 Annual Grant. As of the Effective Date, the Company shall grant Executive an equity award with a value of
$4,000,000 on the date of grant, with the number of shares of Company common stock (the “Company Stock”) subject to such award determined based on the average closing price per share of Company Stock on the Nasdaq Stock Market during the
twenty day trading period ending on the date immediately prior to the date of grant (rounded down to the next whole share), pursuant to the Company’s 2012 Employee Stock Plan, as amended and restated (the “Plan”). Forty percent (40%)
of the award will consist of time-based restricted stock units that will vest in approximately three equal annual installments commencing on the date of grant. Sixty percent (60%) of the award will consist of performance stock units (having a target
number based on the grant date value) that will vest based on the Company’s achievement of targeted performance goals relating to annualized recurring revenue (as adjusted for acquisitions) and free cash flow per share and (each weighted at
fifty percent (50%)), in each case, with respect to the Company’s fiscal year 2020, as established by the Committee and to vest on March 20, 2020. Consistent with the foregoing, the terms and conditions of such award shall be set forth in
award agreements to be entered into by the Company and Executive which shall evidence the grant of the award, with terms that are consistent with Section 7 of this Agreement. 

(ii) 2018 Promotion Grant. As of the Effective Date, the Company shall grant Executive an equity award with a value of
$2,000,000 on the date of grant (with the number of shares of Company Stock subject to such award determined as described in the paragraph above), pursuant to the Plan, (having a target number based on the grant date value) that will vest based on
the Company’s achievement of targeted performance goals relating annualized recurring revenue (as adjusted for acquisitions) and free cash flow per share and (each weighted at fifty percent (50%)), in each case, with respect to the
Company’s fiscal year 2020, as established by the Committee and to vest on March 20, 2020. Consistent with the foregoing, the terms and conditions of such award shall be set forth in an award agreement to be entered into by the Company and
Executive which shall evidence the grant of the award, with terms that are consistent with Section 7 of this Agreement. 

(iii) Subsequent Annual Grants. Effective commencing with the Company’s fiscal year 2019, Executive shall be
eligible to receive long term incentive equity awards generally made available to executive officers of the Company. The Executive’s equity awards shall be determined by the Committee on the same basis as, and shall have terms and conditions no
less favorable than those that apply to, other executive officers of the Company, except that the size of the awards made to Executive shall reflect Executive’s position with the Company and the Committee’s annual evaluation of competitive
compensation practices and Executive’s performance. Performance metrics used in Executive’s annual long term incentive award will be determined annually by the Committee and communicated to Executive no later than two (2) months into
the annual performance period. Executive’s long term incentive awards will be made at the same time as such awards are made to other executive officers of the Company. 

(iv) Non-Assumption upon Change of Control. If outstanding restricted stock
units and other equity awards held by Executive are not assumed, continued or substituted in a Change of Control (as defined below), then the vesting of all such awards will accelerate in full (with awards vesting based on performance criteria
vesting at target levels) immediately prior to the Change of Control. 

  
 2 

 4. Employee Benefits. During the Employment Term, Executive will be eligible to
participate in accordance with the terms of all Company employee health and dental insurance and other benefit plans, policies, and arrangements that are applicable to other senior executives of the Company, as such plans, policies, and arrangements
may exist from time to time. Executive will be entitled to vacation in accordance with the Company’s vacation policy as amended from time to time. 

5. Expenses. During the Employment Term, the Company will reimburse Executive for reasonable travel, entertainment, and other expenses
incurred by Executive in the furtherance of the performance of Executive’s duties hereunder, in accordance with the Company’s expense reimbursement policy as in effect from time to time, subject to Section 9. 

6. Termination of Employment. In the event Executive’s employment with the Company terminates for any reason, Executive will be
entitled to any (a) unpaid Base Salary accrued up to the effective date of termination; (b) unpaid, but earned and accrued annual incentive compensation for any completed fiscal year as of his termination of employment; (c) benefits
or compensation as provided under the terms of any employee benefit and compensation agreements or plans applicable to Executive; (d) unreimbursed business expenses required to be reimbursed to Executive, and (e) rights to indemnification
Executive may have under the Company’s Certificate of Incorporation, Bylaws, or separate indemnification agreement, as applicable (“Indemnification Rights”). In addition, if the termination is by the Company without Cause or Executive
resigns for Good Reason, Executive will be entitled to the amounts and benefits specified in Section 7. 
 7. Severance. 

(a) Termination Without Cause or Resignation for Good Reason other than in Connection with a Change of Control. If Executive’s
employment is terminated by the Company without Cause or if Executive resigns for Good Reason, and such termination is not In Connection with a Change of Control, then, provided that the termination of Executive’s employment constitutes a
“separation from service” within the meaning of Treasury Regulation Section 1.409A-1(h) (a “Separation from Service”), subject to Section 8, Executive will receive:
(i) payment of an amount equal to two hundred percent (200%) of Executive’s Base Salary (less applicable tax withholdings), such amount to be paid out in substantially equal installments bi-monthly
over twelve (12) months in accordance with the Company’s normal payroll policies; (ii) payout of his pro-rata bonus for the fiscal year of the Company in which termination occurs provided the
Company bonus targets are satisfied (based on the number of days actively employed during such fiscal year), such amount to be paid in one lump sum on or before March 15th of the fiscal year next following the year of Executive’s Separation
from Service; (iii) with respect to each of Executive’s then outstanding unvested equity awards, other than awards that would otherwise vest in whole or in part only upon satisfaction of performance criteria, such awards shall fully
accelerate and become vested with respect to one hundred percent (100%) of the shares subject thereto; (iv) with respect to each of Executive’s then outstanding unvested equity awards that would otherwise vest in whole or in part only upon
satisfaction of Company performance criteria (with any individual performance executive deemed fully satisfied), such awards shall become vested (and settled within ten (10) days following vesting) based on the extent, if any, that the
underlying performance criteria with respect to such awards are satisfied for the applicable performance period, as pro-rated to reflect the number of days in which Executive was actively employed by the
Company during the applicable performance period (and the remainder of such equity awards that do not become vested pursuant to this clause (iv), if any, shall be forfeited); and (v) if Executive validly elects to continue coverage under the
Consolidated Omnibus Budget Reconciliation Act (“COBRA”), reimbursement for premiums paid for continued health benefits for Executive (and any eligible dependents) under the Company’s health plans, payable when such premiums are due
until the earlier of (A) twelve (12) months or (B) the date upon which Executive and Executive’s eligible dependents become covered under similar plans. Subject to Sections 8 and 9, the accelerated vesting described in subsections
(iii) and (iv) above shall be effective immediately as of the date on which Executive’s separation agreement and 

  
 3 

 
release of claims described in Section 8(a) may be revoked has expired, and any payment described in (i) above shall be made, and commence in the case of (v), on the sixtieth (60th) day
after Executive’s Separation from Service. 
 (b) Termination Without Cause or Resignation for Good Reason In Connection with a
Change of Control. If Executive’s employment is terminated by the Company without Cause or by Executive for Good Reason, and the termination is In Connection with a Change of Control, then, provided that the termination of Executive’s
employment constitutes a Separation from Service, subject to Section 8, Executive will receive: (i) a lump sum payment in an amount equal to two hundred percent (200%) of the sum of Executive’s annual Base Salary and Executive’s
Average Annual Bonus (less applicable tax withholdings); (ii) payout of his pro-rata bonus for the fiscal year of the Company in which termination occurs provided the Company bonus targets are satisfied, such
amount to be paid in one lump sum on or before March 15th of the succeeding fiscal year; (iii) each of Executive’s then outstanding unvested equity awards, including awards that would otherwise vest only upon satisfaction of performance
criteria, shall fully accelerate and become vested with (and settled within ten (10) days following vesting) respect to one hundred percent (100%) of the shares subject thereto, provided, that the performance criteria of any awards that would
otherwise vest only upon satisfaction of performance criteria shall be deemed achieved at target levels unless the applicable grant documents or transaction documents provide for a higher amount; and (iv) if Executive validly elects to continue
coverage under COBRA, reimbursement for premiums paid for continued health benefits for the Executive (and any eligible dependents) under the Company’s health plans, payable when such premiums are due until the earlier of (A) eighteen (18)
months or (B) the date upon which Executive and Executive’s eligible dependents become covered under similar plans. Subject to Sections 8 and 9, the accelerated vesting described in subsection (iii) above shall be effective
immediately as of the date on which Executive’s separation agreement and release of claims described in Section 8(a) may be revoked has expired, and any severance payment described in (i) above shall be made, and commence in the case
of (iv), on the later of the sixtieth (60th) day after Executive’s Separation from Service or the consummation of the Change of Control. 

(c) Voluntary Termination Without Good Reason or Termination for Cause. If Executive’s employment is terminated voluntarily,
including due to death or Disability, without Good Reason, is terminated for Cause by the Company or, if prior to Executive’s death, the Company provides him notice of termination for Cause or Executive provides the Company of notice of
termination without Good Reason, then, except as provided in Section 6, (i) all further vesting of Executive’s outstanding equity awards will terminate immediately; (ii) all payments of compensation by the Company to Executive
hereunder will terminate immediately, and (iii) Executive will be eligible for severance benefits only in accordance with the terms of the Company’s then established plans in which he participates, if any. 

(d) Termination due to Death or Disability. Except as set forth in Section 8(a), if Executive’s employment terminates by
reason of death or Disability, then Executive will be entitled to receive benefits only in accordance with the Company’s then applicable plans, policies, and arrangements. 

(e) Sole Right to Severance. This Agreement is intended to represent Executive’s sole entitlement to severance payments and
benefits in connection with the termination of his employment. Executive acknowledges and agrees that he is not entitled to participate in the Company’s Executive Change in Control Program as may be amended and restated (the
“Program”). To the extent Executive receives severance or similar payments and/or benefits under any other Company plan, program, agreement, policy, practice, or the like, severance payments and benefits due to Executive under this
Agreement will be correspondingly reduced (or vice-versa). 
 (f) In the event that the benefits provided for in this Agreement otherwise
constitute “parachute payments” within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”) and would, but for this subsection (f) be subject to the excise tax imposed by
Section 4999 of the Code (the “Excise Tax”), then the Executive’s benefits under Section 7 shall be either: 
 (i)
delivered in full, or 

  
 4 

 (ii) delivered as to such lesser extent as would result in no portion of such benefits being
subject to the Excise Tax, whichever of the foregoing amounts, taking into account the applicable federal, state and local income taxes and the Excise Tax, results in the receipt by Executive on an after-tax
basis, of the greatest amount of benefits, notwithstanding that all or some portion of such benefits may be taxable under Section 4999 of the Code. Unless the Company otherwise agrees in writing, all determinations required to be made under
this Article, including the manner and amount of any reduction in the Executive’s benefits under Section 7, and the assumptions to be utilized in arriving at such determinations, shall be made in writing in good faith by the accounting
firm serving as the Company’s independent public accountants immediately prior to the event giving rise to such Payment (the “Accountants”). If Executive’s benefits are delivered to a lesser extent in accordance with this clause
(ii), then Executive’s aggregate benefits shall be reduced in the following order (i) cash severance pay that is exempt from Section 409A of the Code, (ii) any other cash severance pay, (iv) reimbursement payments under
Section 6(e), above, (iii) any restricted stock units, (iv) any equity awards other than restricted stock units and stock options, and (v) stock options. For purposes of making the calculations required by this subsection (f),
the Accountants may make reasonable assumptions and approximations concerning the application of Sections 280G and 4999 of the Code. The Company and Executive shall furnish to the Accountants such information and documents as the Accountants may
reasonably request to make a determination under this subsection (f). The Company shall bear all costs the Accountants may reasonably incur in connection with any calculations contemplated by this subsection (f). 

8. Conditions to Receipt of Severance; No Duty to Mitigate. 

(a) Separation Agreement and Release of Claims. The receipt of any severance or other benefits pursuant to Section 7 will be
subject to Executive signing, not revoking and returning to the Company within fifty (50) days of his Separation from Service a separation agreement and release of claims in the form attached hereto as Exhibit A. No severance or other benefits
hereunder will be paid or provided until the separation agreement and release agreement becomes effective. Executive shall not be required to release the rights under Section 11 of this Agreement or the policies referred to in Section 11.
Notwithstanding the foregoing, if Executive shall die following a termination described in Sections 7(a) or (b), Executive shall not be required to execute a separation agreement and release of claims in order for Executive’s successors to
receive the severance benefits described in Sections 7(a) or (b). 
 (b) Non-solicitation and Non-competition. The receipt of any severance or other benefits pursuant to Section 7(a) will be subject to Executive agreeing that (i) during the Employment Term and Continuance Period, Executive will
not solicit any employee of the Company for employment other than at the Company and (ii) during the Employment Term directly or indirectly engage in, have any ownership interest in or participate in any entity that as of the date of
termination, competes with the Company in any substantial business of the Company or any business reasonably expected to become a substantial business of the Company. Executive’s passive ownership of not more than 1% of any publicly traded
company will not constitute a breach of this Section 8(b). 
 (c) Nondisparagement. During the Employment Term and Continuance
Period, neither Executive nor the Company will knowingly and materially disparage, criticize, or otherwise make any derogatory statements regarding the Executive or the Company, respectively, and the Company, in its official statements, will not and
will instruct the members of the Board and executive officers not to, knowingly and materially disparage, criticize, or otherwise make derogatory statements regarding Executive. Notwithstanding the foregoing, nothing contained in this agreement will
be deemed to restrict Executive, the Company or any of the Company’s current or former officers and/or directors from providing information to any governmental or regulatory agency (or in any way limit the content of any such information) to
the extent they are requested or required to provide such information pursuant to applicable law or regulation. 
 (d) Other
Requirements. Executive’s receipt of continued severance payments will be subject to Executive continuing to comply with the terms of the Confidential Information Agreement and the provisions of this Section 8. 

(e) No Duty to Mitigate. Executive will not be required to mitigate the amount of any payment contemplated by this Agreement, nor will
any earnings that Executive may receive from any other source reduce any such payment. 

  
 5 

 9. Section 409A. 

Notwithstanding any of the foregoing, if the Executive is deemed by the Company at the time of his Separation from Service by the Company to
be a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code, to the extent delayed commencement of any portion of the benefits to which he is entitled under this Agreement is required in order to avoid a prohibited
distribution under Section 409A(a)(2)(B)(i) of the Code, such portion of his benefits shall not be provided to him prior to the earlier of (a) the expiration of the six-month period measured from the
date of his Separation from Service with the Company or (b) the date of his death. Upon the expiration of the applicable Section 409A(a)(2)(B)(i) of the Code period, all deferred payments shall be paid to Executive in a lump sum, and any
remaining payments due under the Agreement shall be paid as otherwise provided herein. Notwithstanding the foregoing or any other provisions of this Agreement, the Company and Executive agree that, for purposes of the limitations on nonqualified
deferred compensation under Section 409A of the Code, each payment of compensation under this Agreement shall be treated as a separate payment of compensation for purposes of applying the Section 409A deferral election rules and the
exclusion from Section 409A of the Code for certain short-term deferral amounts. 
 Except as otherwise expressly provided herein, to
the extent any expense reimbursement or the provision of any in-kind benefit under this Agreement (or otherwise referenced herein) is determined to be subject to (and not exempt from) Section 409A of the
Code, the amount of any such expenses eligible for reimbursement, or the provision of any in-kind benefit, in one calendar year shall not affect the expenses eligible for reimbursement or in kind benefits to
be provided in any other calendar year, in no event shall any expenses be reimbursed after the last day of the calendar year following the calendar year in which Executive incurred such expenses, and in no event shall any right to reimbursement or
the provision of any in-kind benefit be subject to liquidation or exchange for another benefit. 

To the extent that any provision of this Agreement is ambiguous as to its exemption or compliance with Section 409A of the Code, the
provision will be read in such a manner so that all payments hereunder are exempt from Section 409A of the Code to the maximum permissible extent, and for any payments where such construction is not tenable, that those payments comply with
Section 409A of the Code to the maximum permissible extent. 
 10. Definitions. 

(a) Average Annual Bonus. For purposes of this Agreement, “Average Annual Bonus” shall mean the cash value of the average
bonus amount awarded (determined without regard to any deferral election or form of payment of such bonus) to Executive under the Company’s incentive bonus and variable compensation programs as in effect on the Effective Date (or any
predecessor or successor programs) for the three most recent consecutive and complete fiscal years of the Company prior to the fiscal year in which the Change of Control occurs. 

(b) Cause. For purposes of this Agreement, “Cause” means the disinterested members of the Board, on a reasonable and good
faith basis, determine (after reasonable notice is provided to Executive and Executive is given an opportunity, together with counsel, to be heard before the Board) that any of the following events or contingencies exists or has occurred:
(i) Executive’s engagement in acts of embezzlement, dishonesty or moral turpitude that has a material adverse effect on the Company; (ii) the conviction of Executive for having committed a felony; (iii) a breach by Executive of
Executive’s fiduciary duties and responsibilities to the Company that result in a material adverse effect on the Company’s business, operations, prospects or reputation; or (iv) gross negligence or bad faith that has a material
adverse effect on the Company; provided that if any of the foregoing events is capable of being cured, the Company will provide written notice of Executive describing the nature of such event and Executive will thereafter have thirty (30) days
to cure such event. The foregoing shall not be deemed an exclusive list of the acts or omissions that the Company may consider as grounds for the termination of Executive’s employment, but it is an exclusive list of the acts or omissions that
shall be considered “Cause” for the termination of Executive’s employment by the Company. 
 (c) Change of Control.
For purposes of this Agreement, “Change of Control” means (i) any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934) becomes the “beneficial owner” (as

  
 6 

 
defined in Rule 13d-3 of the Securities Exchange Act of 1934), directly or indirectly, of securities of the Company representing fifty percent (50%) or
more of the total voting power represented by the Company’s then outstanding voting securities; or (ii) the consummation of the sale or disposition by the Company of all or substantially all of the Company’s assets; or (iii) the
consummation of a merger or consolidation of the Company with any other corporation, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent
(either by remaining outstanding or by being converted into voting securities of the surviving entity or its parent) fifty percent (50%) or more of the total voting power represented by the voting securities of the Company or such surviving entity
or its parent outstanding immediately after such merger or consolidation; or (iv) a change in the composition of the Board, as a result of which less than a majority of the Directors are Incumbent Directors. “Incumbent Directors”
shall mean Directors who either (A) are Directors of the Company as of the date hereof, or (B) are elected, or nominated for election, to the Board with the affirmative votes of at least a majority of those Directors whose election or
nomination was not in connection with any transaction described in subsections (i), (ii) or (iii) or in connection with an actual or threatened proxy contest relating to the election of directors of the Company; provided that such Change of
Control constitutes a change in ownership or effective control of the Company within the meaning of Section 409A of the Code and the Treasury Regulations promulgated thereunder. 

(d) Disability. For purposes of this Agreement, Disability shall have the same defined meaning as in the Company’s long-term
disability plan. 
 (e) Good Reason. For purposes of this Agreement, “Good Reason” means without the Executive’s
written consent, (i) a material reduction in the Executive’s authority or responsibilities (including reporting responsibilities) which shall include, after a Change of Control, the failure to appoint Executive as the Chief Executive
Officer of a corporation whose equity securities are regularly traded on a recognized public market; (ii) a material reduction in the Executive’s annual Base Salary or Target Annual Incentive, other than a reduction made prior to a Change
of Control that in the aggregate does not exceed 10% that also is applied to substantially all of the Company’s other senior executives; or (iii) the relocation of the Executive’s principal place of performing his duties as an
employee of the Company by more than thirty (30) miles. Notwithstanding the foregoing, an event described in this Section shall not constitute Good Reason unless it is communicated by the Executive to the Company in writing within ninety
(90) days of the initial existence of such event and is not corrected by the Company in a manner which is reasonably satisfactory to such Executive (including full retroactive correction with respect to any reduction in annual Base Salary or
Target Annual Incentive except as permitted in clause (ii)) within thirty (30) days of the Company’s receipt of such written notice. In any event, Executive’s Separation from Service must occur during the two (2) year period
following the initial existence of any of the events described in this Section in order to constitute a Separation from Service for Good Reason. Neither the failure of the Company’s stockholders to elect or reelect Executive to the Board nor
the expiration of the Employment Term will constitute Good Reason for purposes of this Agreement. 
 (f) Continuance Period. For
purposes of this Agreement, “Continuance Period” will mean the period of time beginning on the date of the termination of Executive’s employment and ending on the date on which Executive is no longer receiving Base Salary payments
under Section 7. 
 (g) In Connection with a Change of Control. For purposes of this Agreement, a termination of
Executive’s employment with the Company is “In Connection with a Change of Control” if Executive’s employment is terminated (i) within two (2) months preceding a Change of Control or (ii) within twelve
(12) months following a Change of Control. 
 11. Indemnification and Insurance. Executive will be covered under the
Company’s insurance policies and, subject to applicable law, will be provided indemnification to the maximum extent permitted by the Company’s bylaws, Certificate of Incorporation, and standard form of Indemnification Agreement, with such
insurance coverage and indemnification to be in accordance with the Company’s standard practices for senior executive officers but on terms no less favorable than provided to any other Company senior executive officer or director. 

  
 7 

 12. Confidential Information. Executive has previously executed the Company’s
standard form of employee confidential information agreement (the “Confidential Information Agreement”). During the Employment Term, Executive further agrees to execute any updated versions of the Confidential Information Agreement (any
such updated version also referred to as the “Confidential Information Agreement”) as may be required of substantially all of the Company’s executive officers. 

13. Assignment. This Agreement will be binding upon and inure to the benefit of (a) the heirs, executors, and legal
representatives of Executive upon Executive’s death and (b) any successor of the Company. Except for purposes of Section 8(b), any such successor of the Company will be deemed substituted for the Company under the terms of this
Agreement for all purposes. For this purpose, “successor” means any person, firm, corporation, or other business entity which at any time, whether by purchase, merger, or otherwise, directly or indirectly acquires all or substantially all
of the assets or business of the Company. None of the rights of Executive to receive any form of compensation payable pursuant to this Agreement may be assigned or transferred except by will or the laws of descent and distribution. Any other
attempted assignment, transfer, conveyance, or other disposition of Executive’s right to compensation or other benefits will be null and void. 

14. Notices. All notices, requests, demands, and other communications called for hereunder will be in writing and will be deemed given
(a) on the date of delivery if delivered personally, (b) one (1) day after being sent by a well-established commercial overnight service, or (c) four (4) days after being mailed by registered or certified mail, return receipt
requested, prepaid and addressed to the parties or their successors at the following addresses, or at such other addresses as the parties may later designate in writing: 

If to the Company: 

Attn: Chair of the Compensation Committee 

of the Board of Directors Autodesk, Inc. 

111 McInnis Parkway 

San Rafael, CA 94903 

If to Executive: 

at the last residential address known by the Company as provided by 

Executive in writing. 

15. Severability. If any provision hereof becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable, or
void, this Agreement will continue in full force and effect without said provision. 
 16. Arbitration. 

(a) General. In consideration of Executive’s service to the Company, its promise to arbitrate all employment related disputes, and
Executive’s receipt of the compensation and other benefits paid to Executive by the Company, at present and in the future, Executive agrees that any and all controversies, claims, or disputes with anyone (including the Company and any employee,
officer, director, shareholder, or benefit plan of the Company in their capacity as such or otherwise) arising out of, relating to, or resulting from Executive’s service to the Company under this Agreement or otherwise or the termination of
Executive’s service with the Company, including any breach of this Agreement, will be subject to binding arbitration under the Arbitration Rules set forth in California Code of Civil Procedure Section 1280 through 1294.2, including
Section 1283.05 (the “Rules”) and pursuant to California law. Disputes which Executive agrees to arbitrate, and thereby agrees to waive any right to a trial by jury, include any statutory claims under state or federal law, including,
but not limited to, claims under Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act of 1990, the Age Discrimination in Employment Act of 1967, the Older Workers Benefit Protection Act, the California Fair Employment and
Housing Act, the California Labor Code, claims of harassment, discrimination, or wrongful termination, and any statutory claims. Executive further understands that this Agreement to arbitrate also applies to any disputes that the Company may have
with Executive. 

  
 8 

 (b) Procedure. Executive agrees that any arbitration will be administered by the American
Arbitration Association (“AAA”) and that a neutral arbitrator will be selected in a manner consistent with its National Rules for the Resolution of Employment Disputes. The arbitration proceedings will be held in Marin County, California
and will allow for discovery according to the rules set forth in the National Rules for the Resolution of Employment Disputes or California Code of Civil Procedure. Executive agrees that the arbitrator will have the power to decide any motions
brought by any party to the arbitration, including motions for summary judgment and/or adjudication and motions to dismiss and demurrers, prior to any arbitration hearing. Executive agrees that the arbitrator will issue a written decision on the
merits. Executive understands the Company will pay for any administrative or hearing fees charged by the arbitrator or AAA except that Executive will pay the first $200.00 of any filing fees associated with any arbitration Executive initiates.
Executive agrees that the arbitrator will administer and conduct any arbitration in a manner consistent with the Rules and that to the extent that the AAA’s National Rules for the Resolution of Employment Disputes conflict with the Rules, the
Rules will take precedence. 
 (c) Remedy. Except as provided by the Rules, arbitration will be the sole, exclusive, and final remedy
for any dispute between Executive and the Company. Accordingly, except as provided for by the Rules, neither Executive nor the Company will be permitted to pursue court action regarding claims that are subject to arbitration. Notwithstanding, the
arbitrator will not have the authority to disregard or refuse to enforce any lawful Company policy, and the arbitrator will not order or require the Company to adopt a policy not otherwise required by law which the Company has not adopted. 

(d) Availability of Injunctive Relief. In addition to the right under the Rules to petition the court for provisional relief, Executive
agrees that any party also may petition the court for injunctive relief where either party alleges or claims a violation of this Agreement or the Confidentiality Agreement or any other agreement regarding trade secrets, confidential information,
Nonsolicitation or Labor Code §2870. 
 (e) Administrative Relief. Executive understands that this Agreement does not prohibit
Executive from pursuing an administrative claim with a local, state, or federal administrative body such as the Department of Fair Employment and Housing, the Equal Employment Opportunity Commission, or the workers’ compensation board. This
Agreement does, however, preclude Executive from pursuing court action regarding any such claim. 
 (f) Voluntary Nature of
Agreement. Executive acknowledges and agrees that Executive is executing this Agreement voluntarily and without any duress or undue influence by the Company or anyone else. Executive further acknowledges and agrees that Executive has carefully
read this Agreement and that Executive has asked any questions needed for Executive to understand the terms, consequences, and binding effect of this Agreement, including that Executive is waiving Executive’s right to a jury trial. Finally,
Executive agrees that Executive has been provided an opportunity to seek the advice of an attorney of Executive’s choice before signing this Agreement. 

17. Legal and Tax Expenses. The Company will directly pay Executive’s counsel up to $10,000 for reasonable legal and tax advice
expenses incurred in connection with the negotiation and implementation of this Agreement. Such payment shall be made in full within 30 days after the Company’s receipt of any applicable invoices (and in any event by not later than
December 31, 2017). 
 18. Integration. This Agreement represents the entire agreement and understanding between the parties as
to the subject matter herein and supersedes all prior or contemporaneous agreements whether written or oral. No waiver, alteration, or modification of any of the provisions of this Agreement will be binding unless in a writing that specifically
references this Section and is signed by duly authorized representatives of the parties hereto. 
 19. Waiver of Breach. The waiver
of a breach of any term or provision of this Agreement, which must be in writing, will not operate as or be construed to be a waiver of any other previous or subsequent breach of this Agreement. 

20. Survival. The Confidential Information Agreement, the Company’s and Executive’s responsibilities under Sections 4, 5, 6,
7, 8, 10, 11, 13, 15 and 16 will survive the termination of this Agreement. 

  
 9 

 21. Headings. All captions and section headings used in this Agreement are for convenient
reference only and do not form a part of this Agreement. 
 22. Tax Withholding. All payments made pursuant to this Agreement will be
subject to withholding of applicable taxes. 
 23. Governing Law. This Agreement will be governed by the laws of the State of
California (with the exception of its conflict of laws provisions). 
 24. Acknowledgment. Executive acknowledges that she has had
the opportunity to discuss this matter with and obtain advice from his private attorney, has had sufficient time to, and has carefully read and fully understands all the provisions of this Agreement, and is knowingly and voluntarily entering into
this Agreement. 
 25. Counterparts. This Agreement may be executed in counterparts, and each counterpart will have the same force
and effect as an original and will constitute an effective, binding agreement on the part of each of the undersigned. 
 [Signature page
follows] 

  
 10 

 IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company
by a duly authorized officer, as of the day and year first above written. 
  

					
	COMPANY
		
	By:	 	 /s/ Crawford Beveridge

		 	Name:	 	Crawford Beveridge
		 	Title:	 	Chairman
	
	EXECUTIVE
		
	By:	 	 /s/ Andrew Anagnost

		 	Name:	 	Andrew Anagnost

 SIGNATURE PAGE TO ANDREW ANAGNOST EMPLOYMENT AGREEMENT 

 EXHIBIT A 

RELEASE OF CLAIMS AGREEMENT 

This Release of Claims Agreement (the “Release Agreement”) is made by and between Autodesk, Inc. (the “Company”) and
Andrew Anagnost (“Executive”). 
 WHEREAS, Executive was employed by the Company; and 

WHEREAS, Executive and the Company have entered into an Employment Agreement as of June     , 2017 (the “Employment
Agreement”); 
 NOW THEREFORE, in consideration of the mutual promises made herein, the Company and Executive (collectively referred to
as “the Parties”) hereby agree as follows: 
 1. Termination. Executive’s employment with the Company terminated on
            , 20     (the “Termination Date”). 

2. Consideration. The Company agreed pursuant to Section      of the Employment Agreement to provide Executive with
certain benefits in the event Executive’s employment is terminated in specified circumstances, provided Executive executes this Release Agreement. 

3. Payment of Salary. Executive acknowledges and represents that the Company has paid all salary, wages, bonuses, accrued vacation,
commissions and any and all other benefits due to Executive as of the Termination Date, other than benefits that remain outstanding pursuant to the Employment Agreement or the Company’s employee benefit plans. 

4. Release of Claims. Executive agrees that the foregoing consideration represents settlement in full of all outstanding obligations
owed to Executive by the Company, other than obligations that remain outstanding pursuant to the Employment Agreement or the Company’s employee benefit plans. Executive, on behalf of Executive and his heirs, family members, executors,
successors and assigns, hereby fully and forever releases the Company and its past, present and future officers, agents, directors, executives, employees, representatives, investors, shareholders, administrators, affiliates, divisions, subsidiaries,
parents, predecessor and successor corporations and assigns, from, and agrees not to sue or otherwise institute or cause to be instituted any legal or administrative proceedings concerning, any claim, duty, obligation or cause of action relating to
any matters of any kind, whether presently known or unknown, suspected or unsuspected, that Executive may possess arising from any omissions, acts or facts that have occurred up until and including the Effective Date (as defined below), other than
his rights under Section 11 of the Employment Agreement, including, without limitation: 
 (a) Any and all claims relating to or
arising from Executive’s employment relationship with the Company and the termination of that relationship or any transactions between the Company, as an employer and Executive as employee; 

(b) Any and all claims relating to, or arising from, Executive’s right to purchase, or actual purchase of, shares of stock of the
Company, including, without limitation, any claims for fraud, misrepresentation, breach of fiduciary duty, breach of duty under applicable state corporate law and securities fraud under any state or federal law; 

(c) Any and all claims for wrongful discharge of employment; termination in violation of public policy; harassment; discrimination;
retaliation; breach of contract, both express and implied; breach of a covenant of good faith and fair dealing, both express and implied; promissory estoppels; negligent or intentional infliction of emotional distress; negligent or intentional
misrepresentation; negligent or intentional interference with contract or prospective economic advantage; unfair business practices; defamation; libel; slander; negligence; personal injury; assault; battery; invasion of privacy; false imprisonment;
and conversion; 

  
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 (d) Any and all claims for violation of any federal, state or municipal statute, including, but
not limited to, Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Age Discrimination in Employment Act of 1967, the Americans with Disabilities Act of 1990, the Fair Labor Standards Act, the Employee Retirement Income
Security Act of 1974, the Worker Adjustment and Retraining Notification Act, the Sarbanes Oxley Act of 2002, the Occupational Safety and Health Administration Act of 1970, the Older Workers Benefit Protection Act of 1990, the Family and Medical
Leave Act of 1993, the California Fair Employment and Housing Act, and California Labor Code Sections 201 et seq. and 970 et seq. and all amendments to each such Act as well as the regulations issued hereunder; 

(e) Any and all claims for violation of the federal or any state constitution; 

(f) Any and all claims arising out of any other laws and regulations relating to employment or employment discrimination; and 

(g) Any and all claims for attorneys’ fees and costs. Executive agrees that the release set forth in this Section 4 shall be and
remain in effect in all respects as a complete general release as to the matters released. The Parties agree that the release set forth in this Section 4 shall not apply to (i) rights that Executive may have to payments or benefits under
Sections 4, 5, 6, 7, 8 and 11 of this Employment Agreement, (ii) rights under any agreement between the Parties evidencing outstanding equity awards in the Company held by Executive or (iii) rights to indemnification Executive may have
under the Company’s Certificate of Incorporation, Bylaws, or separate indemnification agreement, as applicable. 
 5. Acknowledgment
of Waiver of Claims under ADEA. Executive acknowledges that Executive is waiving and releasing any rights Executive may have under the Age Discrimination in Employment Act of 1967 (“ADEA”) and that this waiver and release is knowing
and voluntary. Executive and the Company agree that this waiver and release do not apply to any rights or claims that may arise under the ADEA after the Effective Date. Executive acknowledges that the consideration given for this Release Agreement
is in addition to anything of value to which Executive was already entitled. Executive further acknowledges that Executive has been advised by this writing that (a) Executive should consult with an attorney prior to executing this Release
Agreement; (b) Executive has at least twenty-one (21) days within which to consider this Release Agreement; (c) Executive has seven (7) days following the execution of this Release
Agreement by the parties to revoke the Release Agreement; and (d) this Release Agreement shall not be effective until the revocation period has expired. Any revocation should be in writing and delivered to the General Counsel at Autodesk, Inc.,
111 McInnis Parkway, San Rafael, California 94903, by close of business on the seventh day from the date that Executive signs this Release Agreement. 

6. Civil Code Section 1542. Executive represents that Executive is not aware of any claims against the Company other
than the claims that are released by this Release Agreement. Executive acknowledges that Executive has been advised by legal counsel and is familiar with the provisions of California Civil Code Section 1542, which provides as follows: 

A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING
THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR. 
 Executive, being aware of
said code section, agrees to expressly waive any rights Executive may have thereunder, as well as under any other statute or common law principles of similar effect. 

7. No Pending or Future Lawsuits. Executive represents that Executive has no lawsuits, claims or actions pending in Executive’s
name, or on behalf of any other person or entity, against the Company or any other person or entity referred to herein. Executive also represents that Executive does not intend to bring any claims on Executive’s own behalf or on behalf of any
other person or entity against the Company or any other person or entity referred to herein with regard to matters released hereunder. 

  
 A-2 

 8. Confidentiality. 

(a) Executive acknowledges that Executive has been exposed to and promises to maintain the confidentiality of all confidential and proprietary
information of the Company, including without limitation, information relating to: any and all research and development plans and activities; products; product plans; source code; customer lists; business plans; marketing plans and strategies;
pricing and pricing strategies; Company’s employees and employee compensation; and the business or confidential information of the Company’s customers. 

(b) Executive agrees to comply with the terms set forth in the Employee Agreements on Intellectual Property and Product Source Code and
executed by Executive on or about Executive’s hire date and any updated confidentiality agreement Executive may have signed while an employee (altogether “Confidential Information Agreements”). Executive agrees that any program,
document, drawing, or other work Executive worked on at Company’s direction or on Company time, or using Company’s equipment, or using any information proprietary to Company shall remain the property of the Company. 

(c) Executive hereby confirms that Executive has returned or will return all Company property in Executive’s possession, and that
Executive will return all confidential or proprietary information. In the event Executive violates any of these obligations, the Company shall cease making the payments and providing the benefits to Executive as provided in Section 8 of the
Employment Agreement. 
 (d) Permitted Disclosures. Pursuant to 18 U.S.C. § 1833(b), Executive understands that he will not be
held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret of the Company that (i) is made (A) in confidence to a Federal, State, or local government official, either directly or
indirectly, or to his attorney and (B) solely for the purpose of reporting or investigating a suspected violation of law; or (ii) is made in a complaint or other document that is filed under seal in a lawsuit or other proceeding. Executive
understands that if he files a lawsuit for retaliation by the Company for reporting a suspected violation of law, he may disclose the trade secret to his attorney and use the trade secret information in the court proceeding if he (x) files any
document containing the trade secret under seal, and (y) does not disclose the trade secret, except pursuant to court order. Nothing in this Agreement, or any other agreement that Executive has with the Company, is intended to conflict with 18
U.S.C. § 1833(b) or create liability for disclosures of trade secrets that are expressly allowed by such section. Further, nothing in this Agreement or any other agreement that Executive has with the Company shall prohibit or restrict him from
making any voluntary disclosure of information or documents concerning possible violations of law to any governmental agency or legislative body, or any self-regulatory organization, in each case, without advance notice to the Company. 

9. Costs. The Parties shall each bear their own costs, expert fees, attorneys’ fees and other fees incurred in connection with
this Release Agreement. 
 10. Authority. Executive represents and warrants that Executive has the capacity to act on
Executive’s own behalf and on behalf of all who might claim through him to bind them to the terms and conditions of this Release Agreement. 

11. No Representations. Executive represents that Executive has had the opportunity to consult with an attorney and has carefully read
and understands the scope and effect of the provisions of this Release Agreement. Neither party has relied upon any representations or statements made by the other party hereto which are not specifically set forth in this Release Agreement. 

12. Severability. In the event that any provision hereof becomes or is declared by a court of competent jurisdiction to be illegal,
unenforceable or void, this Release Agreement shall continue in full force and effect without said provision. 
 13. Entire
Agreement. This Release Agreement and the Employment Agreement represent the entire agreement and understanding between the Company and Executive concerning Executive’s separation from the Company and supersede and replace any and all prior
agreements and understandings concerning Executive’s 

  
 A-3 

 
relationship with the Company and his compensation from the Company. This Release Agreement may only be amended in writing signed by Executive and an executive officer of the Company. 

14. Governing Law. This Release Agreement shall be governed by the internal substantive laws, but not the choice-of-law rules, of the State of California. 
 15.
Effective Date. This Release Agreement is effective eight (8) days after it has been signed by both Parties (the “Effective Date”). 

16. Counterparts. This Release Agreement may be executed in counterparts, and each counterpart shall have the same force and effect as
an original and shall constitute an effective, binding agreement on the part of each of the undersigned. 
 17. Voluntary Execution of
Agreement. This Release Agreement is executed voluntarily and without any duress or undue influence on the part or behalf of the Parties hereto, with the full intent of releasing all claims. The Parties acknowledge that: 

(a) They have read this Release Agreement; 

(b) They have been represented in the preparation, negotiation and execution of this Release Agreement by legal counsel of their own choice,
or they have voluntarily declined to seek such counsel; 
 (c) They understand the terms and consequences of this Release Agreement and of
the releases it contains; and 
 (d) They are fully aware of the legal and binding effect of this Release Agreement. 

IN WITNESS WHEREOF, the Parties have executed this Release Agreement on the respective dates set forth below. 

 

									
	COMPANY	 		 	Date:
					
	By:	 		 		 		 	
		 	Name:	 		 		 	
		 	Title:	 		 		 	
			
	EXECUTIVE	 		 	
		 		 		 		 	Date:
	By:	 		 		 		 	
		 	Name:	 	Andrew Anagnost	 		 	

 SIGNATURE PAGE TO ANDREW ANAGNOST RELEASE OF CLAIMS AGREEMENT 

  
 A-4

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