Document:

Q3'15 EX 10.1 BV Turnkey Purchase Agreement

        
 

	
			
	 
	Turnkey purchase agreement
	 

	 
	 
	 

	 
	The parties:
	 

	 
	 
	 

	 
	Park 20|20 C.V.

Park 20|20 Plantronics C.V.
	 

	 
	 
	 

	 
	and
	 

	 
	 
	 

	 
	Plantronics B.V.
	 

	 
	 
	 

	 
	

with regard to the Plantronics Building
at 'Park 20|20' office park in Hoofddorp

	 

	 
	 
	 

	 
	dated 12 December 2014
	 

 
 

1

CONTENTS

	
			
	1.
	Definitions
	4

	2.
	Transfer of Contract
	6

	3.
	Purchase/Completion of the Building
	7

	4.
	Purchase Price and payment
	7

	5.
	Transfer tax, Value Added Tax, costs
	9

	6.
	Transfer date
	10

	7.
	Payment and settlement
	10

	8
	Description of the transfer obligation
	10

	9.
	Assignment of claims

	11

	10.
	Park management, heat/air conditioning surcharge, parking spaces, and piping systems
	11

	11.
	Characteristics of the Property Sold
	12

	12.
	Guarantees of the Vendor
	13

	13.
	Environment
	15

	14.
	The Vendor's disclosure obligation; the Buyer's examination obligation
	16

	15.
	Plan
	16

	16.
	Buyer construction meeting
	16

	17.
	Drafting the Phase Documents
	17

	18.
	Supervision of the construction
	17

	19.
	Completion/Delivery
	18

	20.
	BREEAM
	18

	21.
	Deposit and bank guarantee
	18

	22.
	Dissolving conditions
	19

	23.
	Loss, damage, expiration
	19

	24.
	Force majeure, risk, insurance policies
	20

	25.
	Failure
	20

	26.
	Previous arrangements/amendments/additions
	20

	27.
	Role of Civil-law Notary and Houthoff Buruma as the party advisor
	20

	28.
	Governing law and jurisdiction
	20

	29.
	Miscellaneous
	21

2

Annexes

	
		
	Annex 1
	Declaration of Intent dated 24 April 2014

	Annex 2
	Transfer Deed (draft)

	Annex 3
	Delivery Certificate (draft)

	Annex 4
	Soundscape 1.0 PvR - Concepts & Ideas dated 20 June 2014, 28 July 2014, and 5 September 2014

	Annex 5
	Deposit Agreement dated 30 April 2014

	Annex 6
	Installment Schedule

	Annex 7
	Plan

	Annex 8
	Preliminary Design

	Annex 9
	Final Design (as soon as it is determined)

	Annex 10
	Constitution of Cooperative Association

	Annex 11
	Park Management Regulations for 'Park 20|20' office park

	Annex 12
	Connection Agreement Heating/Air Conditioning/Piping ("CBV")

	Annex 13
	Technical Specifications Plantronics Office (fixtures)

	Annex 14
	Soil survey reports

	Annex 15
	Deposit Agreement Delivery defects (draft)

	Annex 16
	General terms and conditions of Houthoff Buruma

	Annex 17
	Diagram of the lot

	Annex 18
	Technical Descriptions Plantronics Office (shell) 

	Annex 19
	Technical Descriptions of Plantronics parking garage

	Annex 20
	Calculation method of land price

	Annex 21
	Demarcation List

	Annex 22
	Contractor Agreement (will be added as soon as it is signed)

	Annex 23
	Contractor Documents

	Annex 24
	Deed for Establishment of Building/Development Rights for Heating/Air Conditioning/CBV piping (draft)

	Annex 25
	Deed for the Establishment of the Building and Development Rights for Piping System (draft) 

3

Parties:

		
	I.
	Park 20|20 C.V., a limited partnership under Dutch law with its operating premises at 10 Reggesingel, 7461 BA Rijssen entered in the Trade Register under number 08185591

		
	II.
	Park 20|20 Plantronics C.V., a limited partnership under Dutch law with its operating premises at 10 Reggesingel, 7461 BA Rijssen entered in the Trade Register under number 61109762

(“the Vendor”) and

		
	III. 
	Plantronics B.V., a private company with limited liability with its registered office in Amsterdam and its operating premises at 140 Scorpius, Building C, 2132 LR Hoofddorp entered in the Trade Register under number 33277402

(“the Buyer”) 

Whereas:

		
	A. 
	Park 20|20 C.V. and the Vendor are the developers of 'Park 20|20' office park located in between the Scorpius and the Taurusavenue in Hoofddorp.  'Park 20|20' office park is an innovative and sustainable regional development in which the principles of “cradle-to-cradle” are applied.

B.     The Vendor shall be entitled to the Parcel and to complete the Building on the Parcel. 

		
	C. 
	Park 20|20 C.V. and the Buyer have conducted negotiations on the purchase of the Property Sold by the Buyer and have concluded the Declaration of Intent to this effect. Park 20|20, the Buyer and the Notary then concluded the Escrow Agreement for the purpose of carrying out the Declaration of Intent. 

		
	D. 
	The Parties agree that Park 20|20 C.V. shall transfer to the Vendor its rights and obligations under the Declaration of Intent and the Escrow Agreement. 

		
	E.
	The Vendor and the Buyer then reached an agreement on the purchase of the Property Sold by the Vendor and the Completion of the Building subject to the following conditions.

The Parties agree as follows:

1.    Definitions

1.1.    The following definitions shall apply to the Agreement:

Contractual documents:    some of the documents based on which the Vendor expects to conclude the Building Contract consisting of an example of the guarantee conditions from a previous building contract, the guarantee declaration from the contractor based on a previous building contract and the general conditions of contracting for work required by Park 20|20 C.V. a copy of which is enclosed as Annex 23 

Contractor: the contractor engaged by the Vendor for completing the Building, this being an enterprise within the VolkerWessels Group

Building Contract: the Building Contract to be concluded between the Contractor and the Vendor based on the Contractual Documents of which, following conclusion, a copy is enclosed as Annex 22 to the Agreement on the understanding that the Vendor may render illegible those parts of the Building Contract containing sensitive information subject to the exclusive assessment by the Vendor.

Deed of Delivery: the required notarial deed prior to delivery of the Parcel by the Vendor to the Buyer in accordance with the draft deed enclosed with the Agreement as Annex 2

Annex: an annex to the Agreement

CD: the Civil Code

4

Cooperation: 'Park 20|20' office park, a cooperative association with its registered office at Rijssen and its operating premises at 10 Reggesingel, 7461 BA Rijssen entered in the Trade Register under number 52192431

Definitive Measurement:    the Building’s definitive measurement certificate with the associated reports and drawings based on “as built” drawn up in accordance with NEN 2580 stating the number of actually completed square meters gross floor surface    

Demarcation List: the list stating in detail what items and associated costs belong to the shell of the Building and what items and associated costs are included in the Building’s fittings enclosed with the Agreement as Annex 21

Escrow Agreement: the Escrow Agreement dated 27/29/30 April 2014     of which a copy is enclosed with the Agreement as Annex 5.

DD: the definitive design of the Building of which a copy shall be enclosed with the Agreement as Annex 9 as soon as the DD has been established

Phase Documents: the Soundscape, the ID and the DD

Building: the office building to be completed on the Parcel by or on behalf of the Vendor with 3,531 square meters gross floor surface of office space, accessory facilities (experience center) including files, storage and technical space according to norm NEN 2580 and with 54 parking spaces in the lower parking garage

Houthoff Buruma: Houthoff Buruma coöperatief U.A. with its registered office in Amsterdam and its operating premises at 50 Gustav Mahlerplein, 1082 MA, Amsterdam

Fitting-out work: all Fitting-out Work and facilities in the Building desired by the Buyer included in the fixed budget     pursuant to Article 4.4

Declaration of intent: the Declaration of intent dated 24 April 2014 of which a copy is enclosed with the Agreement as Annex 1

Purchase price: the purchase price of the Property Sold pursuant to Article 4

Third party account: the third party account, number 21.32.76.453 in the name of Derdengelden Notariaat Houthoff Buruma     Amsterdam, this being an account pursuant to Article 25 of the Notaries Act    

Delivery date: the date on which the Deed of Delivery is executed

Master plan: the master plan of 'Park 20|20' office park with site layout this being an annex to the park management conditions applying to 'Park 20|20' office park and enclosed with the Agreement as Annex 11

Additional work: (i) all additional work desired by the Buyer and (ii) all Fitting-out Work desired by the Buyer and facilities in the Building not included in the Fitting-out Work

Notary:    M.C. Aarts, notary of Amsterdam or his deputy or successor (linked to Houthoff Buruma) or one of the other notaries of Houthoff Buruma

Environment permit: the irrevocable environmental permit to be issued by Haarlemmermeer Council for the Completion of the Building

Value Added Tax: the Value Added Tax pursuant to the Value Added Tax Act 1968 at the statutory rate applying on the due date 

Completion: the written observation by the Buyer pursuant to     Article 10 of the UACs that the Building has been completed in accordance with the conditions of the Agreement except for the Completion defects

Completion date: the date on which Completion takes place

Completion-Vendor: the Completion of the Property Sold by the Contractor to the Vendor under the Building Contract

5

Completion-Buyer: the Completion of the Property Sold by the Vendor to the Buyer under this Building Contract

Completion defects: the technical and/or constructional defects observed during the Survey pursuant to Article 9, Paragraphs 7 and 9 of the UACs to be specified in the Completion Report

Surveying: the surveying of the Building by the Buyer for the     purpose of the Completion-Buyer pursuant to Article 9 of the UACs

Transfer tax: the transfer tax calculated over the value of the Parcel serving as the basis increased or reduced in accordance with Legal Transactions (Taxation) Act at the statutory rate applying on the due date 

Agreement: this Turnkey Sales Agreement

Party: the Vendor or the Buyer

Parties:    the Vendor and the Buyer

Parcel: the Parcel of land located on the Scorpius, Hoofddorp (currently still unnumbered) forming part of the Parcel entered in the Land Register of Haarlemmermeer Council, section AL, number 2018 measuring 21 ares, 48 centiares or as much more or less in accordance with the land registry measurements as roughly indicated in the drawing enclosed with the Agreement as Annex 17

Planning: the Planning relating to the Completion of the Building of which a copy is enclosed with the Agreement as     Annex 7 including the schedule of decisions

Completion report: the Completion report to be drawn up on the Completion date by the Parties in accordance with the model enclosed as Annex 3

Soundscape: the Soundscape presentations for the Building with the characteristic Soundscape 1.0 PvR - Concepts & Ideas dated 20 June 2014 and the following versions of 28 July and 5 September 2014 of which copies are enclosed with the Agreement as Annex 4

Technical Descriptions: (i) the “Technical Description Plantronics Office (shell)” enclosed with the Agreement as Annex 18, (ii) the “Technical Description of Plantronics Parking Garage” enclosed with the Agreement as Annex 19, and (iii) the “Technical Description Plantronics Office (fixtures)” enclosed with the Agreement as Annex 13 including the associated notes, drawings and building reports

Installment Schedule: the schedule of the installments and due dates of the interim Purchase Price a copy of the draft of which is enclosed with the Agreement as Annex 6

Property Sold: the Parcel and the Building 

ID: the interim design of the Building including the known Fitting-out Work at the time of establishing the ID and the site layout with green spaces of which a copy is enclosed with the Agreement as Annex 8 including the addendum "Interim design & technical descriptions dated 27 November 2014"

UACs: the Uniform Administrative Conditions for carrying out the work in 2012 (UACc 2012), which shall not apply to this Agreement unless explicitly agreed otherwise

2.    Transfer of Contract

2.1.    Declaration of Intent

		
	2.1.1.
	Park 20|20 shall hereby, by way transfer of contract pursuant to Article 6:159, CD, transfer all the rights and obligations of Park 20|20 C.V. under the Declaration of Intent to the Vendor who shall accept these rights and obligations.

2.1.2.    The Vendor shall hereby provide assistance in the transfer of contract stated in the previous paragraph.

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2.2.    Escrow Agreement

		
	2.2.1.
	Park 20|20 shall hereby, by way transfer of contract pursuant to Article 6:159, CD, transfer all the rights and obligations of Park 20|20 C.V. under the Escrow Agreement to the Vendor who shall accept these rights and obligations.

2.2.2.    The Buyer and Notary shall hereby provide assistance in the transfer of contract     stated in the previous paragraph.

3.    Purchase/Completion of Building

		
	3.1.
	The Vendor shall hereby sell to the Buyer the Property Sold who shall hereby Accept from the Vendor the Property Sold.

		
	3.2.
	The Vendor shall be obliged towards the Buyer, who shall accept to deliver to the Buyer the Property Sold on the Completion Date, turnkey, in accordance with the DD, the Technical Descriptions and this Agreement.

		
	3.3.
	The Vendor expects that IBB Kondor B.V. shall be engaged as the Contractor. The basic points for the Building Contract are among others, the Contractual Documents. Should the Vendor wish to engage another company as Contractor, then (i) this company should be on an equal footing with IBB Kondor B.V. as regards solvency and liquidity and (ii) the Vendor of this company should stipulate similar guarantees and declarations as included in the Contractual Documents. The Vendor shall also include in the Contractual Documents an explicit reference to Article 38.1 of the General Conditions for the contracting for work required by Park 20|20, such General Conditions in any case forming part of the Building Contract as far as these relate to the guarantees to be provided by the Contractor and that are relevant to the Buyer.

		
	3.4.
	The Vendor shall guarantee that the Property Sold fits in with the Master Plan.

4.    Purchase Price and payment

4.1.    Interim Purchase Price 

		
	4.1.1.
	The interim Purchase Price shall amount to €10,960,000.00 (ten million, nine hundred and sixty thousand euros) excluding Value Added Tax with a price level as at 1 January 2014. The interim Purchase Price shall be based on the gross floor surface of the Building measuring 3,531 square meters and 54 parking spaces.

4.2.    Definitive Purchase Price 

		
	4.2.1.
	The Vendor and the Buyer shall set the definitive Purchase Price no later than the Completion Date based on the Definitive Measurement Certificate. If the Definitive Measurement Certificate shows that more or less than 3,531 square meters of gross floor surface has been created, the interim Purchase Price shall be increased or reduced based on the amount of €2,613.00 (two thousand, six hundred and thirteen euros) excluding Value Added Tax and with a price level as at 1 January 2014 per square meter of extra or less gross floor surface on the understanding that Haarlemmermeer Council shall charge for a minimum of 3,531 square meters of gross floor surface and the Parcel costs (as defined in Article 4.7 below) shall therefore be calculated over a minimum of 3,531 square meters of gross floor space.

		
	4.2.2.
	The Definitive Measurement Certificate shall be drawn up in accordance with NEN 2580. The Vendor has at the Buyer’s request included in the ID a terrace with an outside step on the first and second floors. The floor surface of this terrace and this step shall, based on NEN 2580 (probably) not be included in the Building’s gross floor surface while the gross floor surface of these items in previous designs was included in the Building’s gross floor surface. The Parties therefore agree that if the floor surface of the terrace and the outside step are not included     in the Building’s gross floor surface in accordance with NEN 2580, the definitive Purchase Price shall be calculated as if the gross floor surface of these items were included in the Building’s gross floor surface (the gross floor surface of these items     shall in that case, for calculating the definitive Purchase Price be added to     the Building’s gross floor surface as stated on the Definitive Measurement Certificate).

If the floor surface of the terrace and the outside step are not calculated towards     the Building’s gross floor surface in accordance with NEN 2580 and Haarlemmermeer Council therefore does not charge a purchase sum for that floor surface, the Parcel costs shall be lower but on the understanding that Haarlemmermeer Council shall charge for a minimum total of 3,531 square meters gross floor surface and the Parcel costs shall therefore be calculated over a minimum of 3,531 square meters gross floor space.

7

		
	4.3.
	Indexation of Purchase Price

		
	4.3.1.
	The Purchase Price shall from 1 January 2014 be indexed to the planned Completion Date of 15 May 2016 based on the amended monthly price index in accordance with the consumer price index (CPI) series for all households     (2006=100) published by Statistics Netherlands. 

The indexed Purchase Price shall be calculated as follows:
The definitive Purchase price pursuant to Article 4.2 x (the price index of the calendar month four calendar months prior to the Completion Date/the price index of the month of September 2013 (i.e., four months before January 2014).

		
	4.3.2.
	If and as far as the point of Completion is extended after 15 May 2016 due to facts and circumstances attributed to the Buyer, the indexation shall continue up to the Completion Date to be reset in this case. 

		
	4.4.
	Budget for Fitting-out work 

		
	4.4.1.
	The Purchase Price shall include a fixed amount that the Vendor shall pay to the     Buyer for Fitting-out Work. The gross fixed budget for the Fitting-out Work is €1,925,000.00 (one million, nine hundred and twenty-five thousand euros) excluding Value Added Tax and consists of the net fixed amount for the Fitting-out Work of €1,666,666.66 (one million, six hundred and sixty-six thousand euros and sixty-six cents) plus a 5% surcharge for project management and selection procedures carried out by the Vendor plus a 10% surcharge for profit, risk and general costs incurred by the Vendor.

		
	4.4.2.
	The Fitting-out Work known at the time of drawing up the ID shall be stated in the ID. The ID shall not therefore include all of the Fitting-out Work. If the Buyer requests Fitting-out Work, the Vendor shall submit the quotation provided by the respective (sub-) contractor or provider for the Buyer’s approval. The Buyer shall be entitled to have the quotation provided by the respective (sub-) contractor or provider checked by an expert to be appointed by the Buyer. The Buyer shall bear the costs of such check. It shall be the Buyer’s exclusive responsibility to ensure     that the Buyer’s approval of the quotation and/or the checking of the quotation by the expert shall be carried out in such a dynamic manner that the Vendor shall still be able to implement the Fitting-out Work required by the Buyer. In order to create transparency as to what costs shall fall under the Fitting-out Work in     accordance with the fixed budget ex Article 4.4.1, the Vendor shall at all times procure an up-to-date (and as far as possible, documented) overview of all costs thereby making as great a distinction as possible between pure (only) Fitting-out Work and the shell-integrated Fitting-out Work.  

		
	4.5
	Additional work

		
	4.5.1
	The fee to be paid by the Buyer for Additional Work shall be set based on an open estimate. All Additional Work shall be agreed in writing. The fee for Additional Work that the Buyer shall owe to the Vendor shall be set based on the price from the (sub-) contractor or provider plus a 5% surcharge for project management and selection procedures carried out by the Vendor plus a 10% surcharge for profit, risk and general costs incurred by the Vendor.

		
	4.5.2.
	The Vendor shall only charge General Construction Site Costs with respect to Additional Work if the total price of the Additional Work is more than 10% of the definitive Purchase Price. If the Additional Work is less than 10% of the definitive Purchase Price, this shall not be subject to additional General Construction Site Costs unless the Contractor, on suggestion from the Vendor is able to make a case for the actual extra General Construction Site Costs based on an open estimate.

		
	4.5.3.
	If the Buyer requests Additional Work, the Vendor shall submit the quotation provided by the respective (sub-) contractor or provider for the Buyer’s approval. The Buyer shall be entitled to have the quotation provided by the respective (sub-) contractor or provider checked by an expert to be appointed by the Buyer. The Buyer shall bear the costs of such check. It shall be the Buyer’s exclusive responsibility to ensure that the Buyer’s approval of the quotation and/or the checking of the quotation by the expert shall be carried out in such a dynamic manner that the Vendor shall still be able to implement the Fitting-out Work required by the Buyer.

		
	4.6.
	Payment in installments

		
	4.6.1.
	The Buyer shall pay the Purchase Price to the Vendor depending on the progress     of the construction in installments in accordance with the Installment Schedule. The draft Installment Schedule is enclosed with the Agreement. The Parties shall set the Installment Schedule by no later than the Completion Date; the Additional Work known in that case shall be included in this.  

8

		
	4.6.2.
	The first installment of €2,930,000.00 (two million, nine hundred and thirty thousand euros) excluding Value Added Tax shall be due on the Completion Date and shall be paid in the manner provided for in Article 7. The Buyer shall pay the following installments to the Vendor by transfer into a bank account to be provided by the Vendor. 

		
	4.6.3.  
	After the determination of the final Purchase Price in the manner described in Article 4.2 and 4.3 above, the last installment mentioned on the Installment Schedule: 

		
	a.
	shall be increased by with the difference between the provisional Purchase Price and the final Purchase Price if the final Purchase Price is higher than the provisional Purchase Price; or 

		
	b.
	shall be reduced by the difference between the provisional Purchase Price and the final Purchase Price if the final Purchase Price is lower than the provisional Purchase Price. 

		
	4.7.      
	Possible increase in the Purchase Price due to the land transfer 

		
	4.7.1.   
	Vendor shall purchase the Land from the Municipality of Haarlemmermeer. The purchase price that Vendor shall owe to the Municipality of Haarlemmermeer in this context and the site preparation costs of Vendor ("Lot Costs") shall be for the account of Buyer and are included in the Purchase Price under the conditions indicated hereunder. 

Vendor and Buyer have estimated the Lot Costs to be one million eight hundred ninety-one thousand one hundred seventy-four euro (€1,891,174.00), excluding VAT. This estimate has been determined on the basis of the calculation method attached to the Agreement as Annex 20. This estimate is based, among other things, on (i) the provisional number of square meters of gross floor area of the Building and (ii) the subdivision into square meters of office space and square meters of accessory facilities (experience center) indicated in the Declaration of Intent. 
The final Lot Costs shall be calculated in accordance with the calculation method attached as Annex 20 and shall be based, among other things, (i) on the final number of square meters of gross floor area of the Building and (ii) the subdivision determined by the Municipality of Haarlemmermeer into square meters of office space and square meters of accessory facilities (experience center), with the understanding that the Municipality of Haarlemmermeer will invoice a minimum of 3,531 square meters of gross floor area. Vendor shall make every effort to obtain the approval of the Municipality of Haarlemmermeer for the subdivision of the square meters of gross floor area of the Building as mentioned in the Declaration of Intent. 
However, should the final Lot Costs calculated in this way be higher or lower than the currently estimated one million eight hundred ninety-one thousand one hundred seventy-four euros  (€1,891,174.00), the last installment of the Installment Schedule shall be increased or reduced by the difference between the final Lot Costs calculated in this way and one million eight hundred ninety-one thousand one hundred seventy-four euros (€1,891,174.00). 

		
	5.         
	Transfer tax, Value Added Tax, costs 

		
	5.1.      
	Transfer tax

		
	5.1.1. 
	The transfer tax (if owed) shall be for the account of Vendor. 

		
	5.2.      
	Value Added Tax

		
	5.2.1.  
	With regard to the Lot Vendor declares that it is a business in the sense of the Turnover Tax Act 1968, whereby on the Transfer Date the Lot will qualify as a construction site in the sense of Article 11.1.a of the Turnover Tax Act 1968, so that the Value Added Tax will be owed with regard to transfer of the Lot. 

		
	5.2.2.   
	Vendor shall issue to Buyer a separate invoice for the Value Added Tax before the Transfer Deed is executed. 

		
	5.2.3.   
	Where reference is made in the previous two paragraphs to "transfer", only the transfer in the sense of the Turnover Tax Act 1968 is intended. 

		
	5.3.      
	Costs

		
	5.3.1.   
	The (notarial) costs due on the transfer of the Lot as well as the Value Added Tax owed on it shall be for the account of Buyer. 

9

		
	5.3.2.   
	Buyer and Vendor shall be responsible for their own consulting costs in connection with the purchase and transfer of the Property Sold. 

		
	6. 
	Transfer Date 

		
	6.1.      
	The Transfer Deed shall be executed in the presence of the Notary Public on April 1, 2015 or earlier or later by as much as Vendor and Buyer stipulate. 

		
	7.         
	Payment and settlement  

		
	7.1.      
	The first installment of the Purchase Price, the Value Added Tax and the settlement of the income and expenses to be notified by Vendor to the Notary Public in good time before the Transfer Date shall be paid - in accordance with these conditions - via the Escrow Account. The Transfer Tax in the matter of the transfer of the Lot - if owed - shall be paid by Vendor also via the Escrow Account. 

Before signing the Transfer Deed, Buyer shall be obligated to do whatever is necessary by crediting the Escrow Account, at the latest on the value date corresponding to the Transfer Date.  The amount that the Notary Public has in its possession under the Depot Agreement, namely €1,326,160.00, shall be deducted from this owed amount on the Escrow Account, increased by the interest based on Article 4.3 of the Depot Agreement. The amount of the Depot Agreement, increased by the interest, shall therefore be offset against the first installment of the Purchase Price. 

		
	7.2.
	The income and expenses on the Property Sold shall be for the account of Buyer as of the Transfer Date. 

		
	7.3.
	With regard to the creditors who - in connection with the correct execution of the purchase and transfer of the Property Sold in accordance with the professional and policy rules applicable to the Notary Public - are to be satisfied out of the Purchase Price, Vendor stipulates the guarantee that their claims will be satisfied directly by the Notary Public out of the Purchase Price and to this end will be transferred from the Escrow Account to their respective bank or postal bank accounts, so that the Notary Public will owe to Vendor itself only the remainder of the Purchase Price. Vendor accepts the determination of the Notary Public as to which of the creditors to be promptly indicated by Vendor fulfill the afore-mentioned criteria and at what amounts. The guarantee shall not cover the remainder to which Vendor is entitled. 

Vendor, with regard to what it is entitled to, and the creditors referred to in the previous paragraph, with regard to what each is entitled to, as well as Buyer, are entitled to the disbursement by the Notary Public only when the Notary Public has determined from the public registers that the transfer has occurred pursuant to the provisions of Article 8.1 and that the Notary Public has followed the professional and policy rules applicable to the Notary Public. 
Vendor and Buyer are aware that - in connection with this determination - one or more working days will pass between the signature date of the Transfer Deed and the disbursement. The Notary Public shall pay to Vendor the interest on the Purchase Price received by the Notary Public as of the Transfer Date, provided that it is not needed to make payment to a mortgage holder or creditor in connection with the daily interest. 
		
	8. 
	Description of the transfer obligation 

		
	8.1.      
	Vendor shall have the obligation toward Buyer to: 

		
	a.
	transfer title to the property unconditionally and not subject to any curtailment, dissolution or annulment whatsoever; and 

		
	b.
	to transfer the Lot free of mortgages and judgments or registrations thereof. 

		
	8.2.     
	 If Vendor is obligated to impose on Buyer charges, obligations and/or restrictions, such charges, obligations and/or restrictions shall be imposed on Buyer as of the Transfer Date by way of their explicit acceptance by Buyer in the Transfer Deed. If these provisions contain rights that are to be stipulated on behalf of one or more third parties, such rights must be explicitly stipulated by Vendor by the Transfer Date and accepted by Vendor on behalf of such third parties. 

		
	8.3.      
	The delivery (actual transfer) of the Lot shall take place during the signing of the Transfer Deed in the actual condition the Lot is in at the moment of delivery. 

		
	8.4.      
	Any excess or shortfall affecting the Lot shall not confer any rights to either of the Parties. 

		
	8.5.      
	Vendor must give Buyer and/or its consultants the opportunity to inspect the Lot before signing the Transfer Deed. 

10

		
	8.6.      
	Vendor and Buyer authorize the Notary Public and all employees of the Notary Public to: 

		
	a.
	cancel the loans linked by mortgage to the Property Sold, both in order to obtain a deletion and to execute the deletion; and 

		
	b.
	consult all documents and registers which the Notary Public considers important for executing the purchase of the Property Sold. 

		
	8.7.      
	The Notary Public undertakes towards the Parties to ensure that a copy of the Transfer Deed is registered in the public registers intended for the purpose. 

		
	9.        
	 Assignment of claims 

		
	9.1.     
	With this document and under the suspensive condition of the Transfer to Buyer Vendor assigns all claims, and Buyer accepts them herewith under the mentioned suspensive condition, which Vendor may assert now or in the future under any agreements, torts or otherwise with regard to third parties, including but not limited to the predecessor(s) in title of Vendor, the architect(s), the constructor(s), the builder(s), the Contractors, the subcontractor, the installer(s) and/or the supplier(s) of the Property Sold or any part thereof, as well as the rights under bonus clauses, guarantee clauses and guarantee certificates, provided that these claims are not assigned by operation of law as qualitative rights in the sense of Article 6:251 BW [Civil Code] and as long as  these rights are assignable without indemnification. The claims to be assigned include for example the warranties granted by (sub-)contractors on the basis of the Contract Documents or similar warranties as set forth in Article 3.3 , and granted by the architect. In case one or more rights set forth in this article are not assigned for any reason whatsoever (or pursuant to the provisions of Article 6:251 BW): 

		
	a.
	such right(s) is (are) considered to be included in the subject purchase and sale of the Property Sold; and 

		
	b.
	Vendor must cooperate in the assignment of the respective right upon the first request of Buyer. 

		
	9.2.      
	Buyer shall have the right to implement the assignment of the respective rights only after the transfer of the Property Sold by informing the persons against whom the rights may be exercised. 

		
	9.3.     
	 The above-mentioned assignment of claims does not abridge the responsibility of Vendor under this Agreement, in particular but not limited to Article 11, Article 12, and Article 13.5. 

		
	10. 
	Park management, heat/air conditioning surcharge, parking spaces, and piping systems 

		
	10.1.    
	The Cooperation was established for the purpose of the park management at the 'Park 20|20' office park. The statutes of the Cooperation are attached to the Agreement as Annex 10. Furthermore, park management rules were specified by Vendor, the Cooperation and the other owners of the buildings for the owners of the buildings in the 'Park 20|20' office park. A copy of these park management rules are attached to the Agreement as Annex 11. 

		
	10.2. 
	Buyer guarantees the following: 

		
	a.
	In the Transfer Deed Buyer undertakes to submit a request to the Cooperation for becoming a member of the Cooperation. 

		
	b.
	Buyer undertakes to fulfill the obligations enumerated in the statutes of the Cooperation and the afore-mentioned park management rules. 

		
	c.
	Buyer undertakes to enter into a follow-up contract with the operator of the heating/air conditioning fixtures at the latest on the Transfer Date under the conditions and provisions incorporated in the follow-up agreement attached to the Agreement as Annex 12. 

		
	d.
	The hereditary easements, qualitative obligations, automatic transfer clauses and building and development rights indicated in the afore-mentioned park management rules shall be specified and/or confirmed in the Transfer Deed for the account of Buyer and/or the Lot. 

11

		
	10.3.    
	Some of the heating-air conditioning fixtures and the central fire-fighting water facilities of the 'Park 20|20' office park are in the Property Sold. A building and development right has been established with regard to these heating/air conditioning fixtures and the central fire-fighting water facilities for the benefit of Dubotechniek Energie Park 20|20 B.V. or De Lage Landen Financial Services B.V. in accordance with the draft document for the establishment of an independent building and development right attached as Annex 24. 

		
	10.4.   
	In and on the Property Sold there are pipes, mains, discharge valves and other accessories that are part of the piping for a gray-water system, an irrigation system and a sewage system. A building and development right for these pipes, mains and discharge valves and other accessories has been created for the benefit of the Cooperation for the establishment of an independent building and development right in accordance with the draft attached as Annex 25. 

		
	10.5.    
	The cost of creating the building and development rights as mentioned under 10.3 and 10.4 above are for the account of Vendor (or the respective builder/developer). 

		
	10.6.    
	The Property Sold includes 54 parking spaces. However, there are approximately 82 parking spaces in the underground parking garage. The approximately 28 parking spaces that do not belong to the Property Sold remain the property of Vendor. Buyer shall therefore be obligated to create a building and development right for the benefit of Vendor - or of an entity designated by Vendor - on the Transfer Date - covering the ownership of approximately 28 parking spaces in the parking garage belonging to the Property Sold. 

In the underground parking garage that is part of the Property Sold there is an archive/storage room which shall remain the property of Vendor. Buyer shall therefore be obligated to create a building and development right for the benefit of Vendor - or an entity designated by Vendor - with regard to the ownership of this archive/storage room in the underground parking garage belonging to the Property Sold. 
These building and development rights shall be created in accordance with the conditions and provisions incorporated in the Transfer Deed. The cost of creating the building and development rights shall be for the account of Vendor (or the respective builder/developer). 
		
	10.7. 
	Based on the park management rules, the management and maintenance of the underground parking garage that is part of the Property Sold shall be handled by the Cooperation. In this context the Cooperation shall enter into a lease agreement with BB-light concepts for LED lighting in the underground parking garage. This LED lighting shall therefore not become the property of Buyer. 

11.       Characteristics of the Property Sold 
		
	11.1. 
	The Property Sold shall be delivered by Vendor as a turnkey project on the Transfer Date. Turnkey shall mean that: 

		
	a.
	the Property Sold and all other works belonging to the Property Sold are completely and entirely ready for use; 

		
	b.
	the Building is functioning fully and normally; 

		
	c.
	all technical facilities of the Property Sold as mentioned in the Technical Specifications are already configured to the extent possible; 

		
	d.
	if the technical fixtures mentioned above are not yet fully configured because they cannot yet be fully configured, they shall be configured promptly for the account of Vendor as soon as it is possible to do so; 

		
	e.
	the Property Sold is unlocked and accessible as usual; 

		
	f.
	the Property Sold satisfies and meets the requirements and regulations imposed by the authorities and/or the utility companies and has all applicable and required permits. 

		
	11.2.    
	The sole responsibility for the completeness and feasibility of the Phase Documents and the Technical Specifications and for any modifications or additions thereto on the basis of the provisions in this Agreement shall rest with Vendor in the sense that Vendor shall not be entitled to any Extra Work or additional payment with regard to materials and/or activities that are necessary for a normal, proper and complete implementation of the Phase Documents and the Technical Specifications and for any modifications or additions thereto on the basis of the provisions in this Agreement, even if the materials/activities are not mentioned in the Phase Documents and the Technical Specifications or any modifications or additions thereto on the basis of the provisions in this Agreement. 

12

		
	11.3.    
	Vendor shall be authorized to change the Phase Documents or the Technical Specifications without the prior approval of Buyer if: 

		
	a.
	the modification is reasonably necessary from a technical viewpoint; and 

		
	b.
	the modification does not diminish the quality in the broadest sense of the word, including the life span of the Building; and 

		
	c.
	the modification does not have any structural consequences for the Building; and 

		
	d.
	the modification does not change the architectural aspect of the Building, either inside or outside; and 

		
	e.
	no environmental permit or modification of the granted Environmental Permit is required; and 

		
	f.
	the modification does not entail - directly or indirectly -any increase in operating costs, including maintenances or repair costs in the Property Sold or parts thereof. 

		
	11.4. 
	Any modification of the Phase Documents or the Technical Specifications that do not satisfy the provisions of Article 11.3 shall require the approval of Buyer. Buyer may not withhold such approval on unreasonable grounds. Buyer shall be authorized to subject the approval of the Phase Documents and Technical Specifications to other (reasonable) conditions if they do not satisfy the provisions set forth in Article 11.3. When granting or refusing its consent, Buyer shall, in its evaluation, take into account the special life span objectives of Vendor with regard to 'Park 20|20' office park and the principles of Cradle-to-Cradle. 

		
	11.5. 
	Buyer must notify Vendor about whether it approves the modification of the Phase Documents that does not satisfy the conditions set forth in Article 11.3 within ten (10) working days after Vendor's written request (including by e-mail). If Buyer does not notify Vendor within the mentioned period, the approval is considered granted. 

		
	11.6. 
	If the Phase Documents and/or Technical Specifications mention product names, brand names and supplier names and if Vendor wishes to change them in the sense that it wishes to use other product names, brand names and supplier names, Buyer shall grant its approval if the product names, brand names and supplier names are equivalent to those mentioned in the Phase Documents and/or Technical Specifications. If Vendor wishes to change the Phase Documents or the Technical Specifications in the manner described in the previous sentence, it must demonstrate such equivalence to Buyer's satisfaction. The costs of such demonstration and the extra costs, if any, of the product names, brand names and supplier desired by Vendor shall be for the account of Vendor. 

		
	11.7.
	Vendor may not derive any claims against Buyer from the approval granted by Buyer as set forth in the previous articles, except that Vendor shall then be entitled to implement the modifications as set forth in these articles for its own account and risk, notwithstanding the obligation of Vendor to satisfy any further conditions. 

		
	11.8.
	During the development of the Building Buyer has the right to ask Vendor to make changes to the Phase Documents and Technical Specifications even after Buyer has approved them. These modifications shall then be qualified as extra work or less work. Vendor shall be obligated to cooperate in such modifications unless Vendor and Buyer reach a comprehensive agreement concerning the costs incurred in connection with the modification and the possible (financial) consequences of an extension of the construction time. 

		
	12. 
	Vendor's guarantees 

		
	12.1. 
	Vendor guarantees that: 

		
	a.
	Vendor is authorized to transfer the Lot at the time the Transfer Deed is signed; 

		
	b.
	to date, no regulations have been issued or announced by the authorities in writing regarding the Lot which have not yet been implemented, or which have been implemented by the authorities but have not yet been paid; 

		
	c.
	to date, no maintenance decisions have been announced or notified by the authorities with regard to the Lot; 

		
	d.
	no obligations under hire-purchase agreements, options and/or contractual preemption rights concerning the plot exist presently and that none will exist on the signature date of the Transfer Deed; 

13

		
	e.
	the Lot will not be encumbered by any lease, will be free from claims and will not be used by third parties without rights or title on the signature date of the Transfer Deed; 

		
	f.
	there are no other hereditary easements and/or qualitative obligations in the sense of Article 6:252 of the Civil Code and/or automatic transfer provisions and/or restricted rights and/or other encumbrances than those mentioned in the Transfer Deed; 

		
	g.
	there are no restricted rights (sufferance obligations) as provided for in the Private-Law Obstruction Act; 

		
	h.
	Vendor is not aware of any public-law restrictions concerning the Property Sold as provided for in the Recognizable Public-Law Restrictions Act; 

		
	i.
	there is currently no pending lawsuit, binding advice, arbitration or mediation procedure and none has been announced; 

		
	j.
	there are no facts or circumstances that stand in the way of the use of the Property Sold indicated in Article 14.2.a or of the construction of the Building, and that this will also be the case on the Transfer Date. 

		
	k.
	Vendor will comply with all obligations towards the Contractors under the Contractor Agreement; 

		
	l.
	the (sub-)contractors, installers, suppliers and other parties hired by Vendor in constructing the Building will not and/or may not exercise any rights of retention on the Transfer-Buyer date; 

		
	m.
	Under the agreements Vendor has met and will meet all due obligations with third parties with regard to the construction of the Building on the Transfer-Buyer Date, among which the Municipality of Haarlemmermeer, and that in this matter Buyer is not subject to any obligations other than those mentioned in this Agreement, in either case only to the extent that non-compliance with these obligations does not entail an immediate disadvantage for Buyer; 

		
	n.
	all permits required for the implementation of the Property Sold (by the authorities), if necessary as a consequence of municipal and other (government) regulations in force at the time of the application for the construction work, including the regulations regarding telecommunications and other utilities have either been granted or will be granted in the near future; 

		
	o.
	the Building is built in accordance with the permits granted and to be granted, which must be requested by and for the account of Vendor as set forth above, and that the Environmental Permit and the Building satisfies, at the time of the Transfer-Buyer, all municipal and other government regulations in force at the time the application for the respective permit is submitted, including the regulations regarding telecommunications and other utilities; 

		
	p.
	the Property Sold satisfies all relevant (government) regulations and provisions issued by the utility companies; 

		
	q.
	the Property Sold can be developed, built on and used in conformity with the provisions in this Agreement; 

		
	r.
	the management is and will be well-run and sound; 

		
	s.
	no subsidies have been requested from or granted by the government with regard to the Property Sold as a result of which Buyer must fulfill certain obligations, and that Vendor will not request such subsidies unless Buyer addresses a request to this effect to Vendor, in which case the (application for the) subsidy shall be for the account and risk of Buyer occur; 

		
	t.
	the Environmental Permit is irrevocable at the time of the Transfer to Buyer, and that whatever has been built based on an invalid Environmental Permit may be handled by having the court invalidate the Environmental Permit in full or in part, and that in a later court verdict it is explicitly decided that based on the Environmental Permit the completed construction work may remain standing and that the municipality is prepared to cooperate in legalizing the construction work; 

14

		
	u.
	the Building is accessible to persons after the Transfer via proper infrastructure facilities and that there is an expediting facility adjacent to the room in which the internal expediting facility of the Building is planned. If and to the extent that Vendor still performs (must perform) construction work on adjacent lots at the time of the Transfer, and if this work restricts/hinders the accessibility of the expediting facility, a temporary provisional expediting facility, which requires the prior approval of Buyer, is sufficient. Vendor shall make every effort to ensure that the provisional expediting facility will be operative no longer than is reasonably necessary. Additionally, the infrastructure accessibility to the expediting facility must in either case be final (i.e., the provisional expediting facility shall be closed) on the first of the following dates: 

		
	-
	if the work on the buildings on adjacent lots has been completed; 

		
	-
	when the adjacent buildings will be transferred; or 

		
	-
	five years after the Transfer. 

		
	12.2. 
	Vendor holds Buyer harmless against all claims filed by (sub-)contractors and/or third parties under agreements that Vendor entered into or will enter into with such (sub-)contractors and/or third parties regarding the development and construction of the Building. 

		
	12.3. 
	Buyer shall inform Vendor in writing as soon as possible, but at the latest within 3 months after the creation of a claim as set forth above, about all claims based on the guarantees mentioned in this article. 

		
	12.4.  
	The guarantees mentioned in this article shall not affect the obligations of Vendor during the maintenance periods and other guarantees granted in this Agreement. 

		
	13. 
	Environment 

		
	13.1. 
	The following soil and groundwater tests have been conducted on behalf and for the account of the Municipality of Haarlemmermeer, the results of which have been complied in the following reports: 

		
	-
	"Soil test 'Hoek Rijnlanderweg/Taurusavenue' in Hoofddorp" dated the 6th of September two thousand seven (6 September 2007) with project number T.07.4949; 

		
	-
	"Soil and asphalt test 'Parkeerterrain Delphinus'in Hoofddorp" dated the tenth of September two thousand seven (10 September 2007) with project number T.07.4947; 

		
	-
	"Exploratory soil test 'Taurusavenue (formerly industrial park Beukenhorst-Zuid' in Hoofddorp" dated the twentieth of March of two thousand eight (20 March 2008) with project number T.08.5144; 

		
	-
	"Exploratory soil test Beukenhorst-Zuid, Lot 4 Taurusavenue in Hoofddorp" dated the nineteenth of November two thousand thirteen (19 November 2013) with project number 21267-4. 

		
	13.2.    
	Grontmij Nederland B.V. has carried out the following exploratory soil test and ground water test on behalf and for the account of the Province North-Holland, the results of which have been compiled in the following report: 

		
	-
	"Exploratory soil test and ground water test" subtitled "Aansluting N201 op A4 en Beukenhorst-Oost te Haarlemmermeer" dated the twenty-sixth of March two thousand nine (26 March 2009) with project number 265742 and reference number 311601. 

		
	13.3.
	Buyer has taken note of the contents of the afore-mentioned soil reports.  Copies of the soil reports have been attached to the Agreement as Annex 14. 

		
	13.4. 
	Vendor declares in addition that it is not aware: 

		
	a. 
	of any contamination in the soil of the Lot with toxic, chemical and/or other (hazardous) materials to such an extent that it can be expected that this contamination will require decontamination or other measures based on the now applicable environmental legislation and/or environmental jurisdiction; 

		
	b.
	of any (underground) storage tanks such as oil and septic tanks on the Lot; or 

		
	c.
	of any asbestos materials or other materials deleterious to the health in the Property Sold. 

15

		
	13.5.    
	Vendor guarantees that the quality of the soil on the Transfer date to Buyer shall be such that it is not any impediment to the intended use of the Building as mentioned in Article 14.2.a. 

		
	14.       
	The Vendor's disclosure obligation; the Buyer's examination obligation 

		
	14.1.   
	Vendor guarantees that it has disclosed to Buyer all relevant information regarding the Property Sold which must be brought to the attention of Buyer, with the understanding that Vendor does not have to disclose to Buyer facts which are known or should have been known to Buyer based on its investigations. 

		
	14.2. 
	Buyer declares: 

		
	a.
	that it intends to use the Property Sold as an office building with accessory facilities (experience center) and other accessories; and 

		
	b.
	that it accepts all encumbrances, obligations and restrictions with regard to the Property Sold under this Agreement. 

		
	15.       
	Plan 

		
	15.1.    
	Vendor and Buyer have jointly approved the Plan. Both Vendor and Buyer will make every effort to implement the Plan. 

		
	15.2.   
	According to the Plan, the startup of the construction is expected to be April 2015 and the aimed-for Transfer Date to Buyer is expected to be 15 May 2016. In order to ensure that the Transfer to Buyer can take place on 15 May 2016, Buyer must make certain decisions on installation work and (possibly) Extra Work. The Plan must therefore be accompanied by a decision diagram. This decision diagram must show the dates on which Buyer must make certain decisions concerning specific parts of the installation work and (possibly) Extra Work. If Buyer does not make the decisions included in the decision diagram promptly, Vendor cannot be held responsible for any resulting delays in the Transfer to Buyer. 

		
	15.3.    
	If the Transfer to Buyer does not take place by 15 May 2016, the Transfer to Buyer shall be postponed until 1 July 2016 at the latest, in which case the provisions of this Agreement shall apply as if the later transfer date were the original Transfer Date. If subsequently the Transfer to Buyer does not take place by 1 July 2016 and if this delay can be attributed to Vendor, Vendor shall owe to Buyer a fine in the amount of €2,000 per day, notwithstanding the possibility of Buyer to also claim damages. 

		
	15.4.    
	In case of a liability of Vendor towards Buyer under the Agreement, the total compensation (under whatever name, including fines and damages) owed by Vendor to Buyer shall not exceed 15% of the total amount of the final Purchase Price and the costs of the Extra Work. The formula for calculating the maximum shall therefore be: 0.15 x (final Purchase Price + costs for Extra Work). 

		
	16. 
	Buyer construction meeting

		
	16.1. 
	To monitor the progress and quality of the construction of the Building, the Vendor and the Buyer will regularly (at least once every three weeks) meet in a so-called buyer construction meeting. In the buyer construction meeting, the Vendor and the Buyer will each be represented by their respective board members and/or designated replacement and/or by their project managers.

		
	16.2. 
	The Buyer's construction team consists of all advisers/experts necessary for the construction of an office building. In principle, the advisers/experts from the Vendor's construction team do not attend the buyer construction meetings. If the Buyer has specific questions for the advisers/experts on the Vendor's construction team in relation to the construction of the Building or the Fitting-out activities, the Buyer may request the Vendor in writing to invite the relevant experts from the Vendor's construction team to a buyer construction meeting. The Vendor will then make every effort to ensure that the relevant adviser/expert attends the buyer construction meeting as requested by the Buyer.

16

		
	17.
	Drafting of Phase Documents

		
	17.1.
	Drafting of Preliminary Design in Final Design (VO in DO)

		
	17.1.1.
	The Buyer has approved the VO and the Technical Descriptions. The Vendor will draft the VO in the DO and, insofar as this is necessary, adjust the Technical Descriptions in the DO. The DO requires the written approval of the Buyer. The Buyer can only withhold approval of the DO if and insofar as the DO is in violation of the Technical Descriptions (insofar as the established VO does not deviate from these) and/or the established VO. If and insofar as the Technical Descriptions change as a result of the drafting of the VO in the DO, these changed Technical Descriptions will form part of the DO to be approved by the Buyer.

		
	17.1.2.
	The Buyer will express himself in writing regarding the DO within 15 working days of receipt of the DO. If the Buyer withholds approval of the DO, the Buyer will do so in writing and will substantiate this decision. If the Buyer has not informed the Vendor of his decision within 15 days of receipt of the DO, then the approval is considered to have been granted. Following the approval of the DO, the VO and previous design documents are deemed to have been incorporated in the DO. 

		
	17.2.
	Design of green areas

		
	17.2.1.
	The Buyer is aware of the public nature of the 'Park 20|20' office park and of the fact that the Plot cannot be physically closed off from the rest of the office park, as also further described in the park management provisions (Appendix 11) and the Deed of Delivery. However, the Buyer has indicated that he wants to prevent the area around the Building, not including the foot paths, from being intensively used by third parties wherever possible. That is why, in the design of the green areas around the Building, the Vendor will take into account the Buyer's wish to prevent disruption and, through the design, guarantee the Buyer some degree of privacy, as has been established in the VO (site plan with green areas).

		
	17.3.
	Contents of Phase Documents

		
	17.3.1.
	The Phase Documents in any case include the status quo when it comes to technology, finances, specification, quality and planning. Without the approval of a Phase Document, the next phase cannot be implemented.

		
	17.3.2.
	In the drafting and/or changing of the Phase Documents, the Parties will monitor the (possible) consequences for obtaining the BREEAM certificate.

		
	17.4.
	Disputes

		
	17.4.1.
	If, based on the provisions defined above, the Buyer needs to grant specific approval and the Buyer refuses to grant this approval for reasons that the Vendor does not agree with, then the Vendor has the right to submit the refusal to grant approval to three experts, who will provide a binding advice regarding the right or wrong refusal of the approval.

		
	17.4.2.
	If the Vendor wishes to submit the withheld approval to the three experts, the Vendor will inform the Buyer about this in writing. In this case, if the Buyer and the Vendor fail to reach an agreement about the approval by the Buyer within five working days, the Vendor and the Buyer will each appoint an expert within five working days, and both designated experts will together appoint a third expert within five working days.

		
	17.4.3.
	If one of the Parties does not appoint an expert as stated in the previous paragraph, or if both designated experts fail to appoint a third expert within the term stated in the previous paragraph, the expert(s) still required will be appointed at the request of one of the Parties by the Court of Amsterdam, cantonal court sector.

		
	17.4.4.
	The experts shall have access to all information that the experts consider useful or essential. The experts shall decide by a majority vote. The experts shall inform the Vendor and the Buyer of their advice in writing within ten (10) working days of their appointment. They will also determine which Party will bear the costs of the advice. The advice is binding for the Vendor and the Buyer.

		
	18.
	Supervising the construction

		
	18.1.
	The Buyer may seek advice from an expert such as a construction consultant at his own expense. The Buyer may replace the expert at any time through a written announcement of this addressed to the expert and the Vendor, stating the new expert to be appointed. The expert is in turn authorized to seek the support of third party advisers/experts. All reports of the buyer construction meetings and the Vendor construction meetings will immediately be provided to the Buyer and/or the expert. The Vendor will provide these reports in Dutch.

17

		
	18.2.
	The Vendor will ensure that the expert, or the third party appointed by the expert during the construction of the Building, is given the opportunity to access the construction site during working hours and to carry out inspections in order to properly perform his task. Both the expert and the third party appointed by the expert must comply with the safety requirements of the Vendor, as specified by the appointed supervisor such as the head of the construction site or the chief foreman of the Contractor, that apply to the construction site. The expert will in no way relieve the Vendor of any responsibility for further developments and construction of the Building.

		
	19.
	Completion/Delivery

		
	19.1.
	The Buyer Delivery will take place in accordance with the provisions of paragraphs 9 and 10, sections 1 and 2 of the UAV [Uniform Administrative Conditions], with the provision that "contractor" refers to the Vendor and "client" and/or "board" refers to the Buyer, and the provisions of Article 3.2.

		
	19.2.
	The Buyer Delivery will take place pursuant to the provisions of this Agreement. The Vendor Delivery will take place pursuant to the provisions of the Building Contract and the Construction Documents. The Vendor and the Buyer shall make every effort to ensure that the Vendor Delivery and the Buyer Delivery take place on the same day (at the same time). The Vendor will include any Delivery Faults in the inspection list for the official report of delivery for the Vendor Delivery.

		
	19.3.
	The Buyer will grant the approval as referred to in paragraph 9 of the UAV through a signature of approval of the Official Report of Delivery.

		
	19.4.
	The Parties have agreed a maintenance term as referred to in paragraph 11 of the UAV of 6 months for the construction part of the Building and 12 months for the technical installations. During the maintenance term, the defects and failures observed in the Buyer Delivery as well as during the maintenance term will be resolved as soon as possible by or on behalf of the Vendor, but in any case within 15 working days after observing the relevant defect or failure. The term of 15 working days is extended by the time for which the delivery of the construction materials and/or services required in order to resolve the issue stagnates due to external circumstances. The Vendor will indemnify the Buyer for claims by third parties pursuant to agreements that the Vendor concludes with these third parties in relation to the activities to be carried out by the Vendor during the maintenance term.

		
	19.5.
	Without prejudice to the other provisions in this Agreement, the Vendor will no longer be liable for failures to the Property Sold from the day on which the Buyer Delivery takes place.

		
	19.6.
	In order to increase the guarantee of recovery of the Delivery Defects by the Vendor, the Buyer is entitled to deposit part of the Purchase Price in the amount of the estimated costs of recovery of the Delivery Defects, as specified in the Official Report of Delivery, in a third party account managed by the notary. The conditions and provisions of this deposit will be set out in a Deposit Agreement in accordance with the model of the Deposit Agreement that is attached to the Agreement as Appendix 15.

		
	20.
	BREEAM

		
	20.1.
	In the Declaration of Intent, the Parties have agreed that the Building, upon delivery, shall meet the requirements for a BREEAM certificate with a score of "excellent". The Parties have further explored whether a LEED certificate with a score of "platinum" could be obtained for the Building as an alternative. The Parties have concluded that a LEED certificate with a score of "platinum" is not a feasible alternative.

		
	20.2.
	On the Delivery Date, the Vendor will provide the Buyer with the BREEAM design certificate in relation to the Building. The Buyer is aware that (i) the BREEAM delivery certificate can only be obtained once the Buyer has fully completed his construction activities and has moved into the Building and (ii) obtaining the BREEAM delivery certificate is (partly) dependent on the installation activities that the Buyer is carrying out in the Building, the materials that the Buyer uses for the installation and the Buyer's use of the Building. The Parties therefore undertake to each make every effort to ensure that the BREEAM delivery certificate can be delivered to the Buyer no later than one year after the Delivery Date.

		
	21. 
	Deposit and Bank Guarantee

		
	21.1.
	In the Declaration of Intent, the Parties have agreed that the Buyer must deposit an amount in the sum of ten percent (10%) of the provisional Purchase Price with the Notary. The Buyer has met this obligation, which is shown by the Deposit Agreement. The terms and conditions and provisions of the Deposit Agreement will remain applicable to the deposit. This deposit will be deducted from the first installment of the Purchase Price on the Delivery Date, as stated in Article 7.1.

18

		
	21.2.
	As a guarantee for the fulfillment of his obligations, on the Delivery Date the Buyer will provide the Vendor with a written bank guarantee for an amount of ten percent (10%) of the provisional Purchase Price minus the first term as stated on the Payment Schedule, therefore an amount of €803,000.00 (€10,960,000.00 minus €2,930,000.00 = €8,030,000.00 x 10%) and with ten percent (10%) of the compensation for the Additional Work, the extent of which will at that point be known, plus sales tax.

The bank guarantee must in any case:
		
	a.
	be unconditional and last until at least three months after the intended Delivery Date;

		
	b.
	be issued to the Vendor by a credit institution or an insurance company with a license as referred to under the Financial Supervision Act or by a well-known foreign bank with a good reputation, at the sole discretion of the Vendor; and

		
	c.
	contain the clause that at the first request, and without any further requirements, the Vendor will be paid the amount of the bank guarantee of the Vendor.

The bank guarantee ends the additional payment of the last installment as stated on the Payment Schedule, regardless of whether part of that last installment is paid by deposit in accordance with Article 19.6.
The ultimate text of the bank guarantee must be approved by the Vendor in writing.
The amount of the bank guarantee will be reduced each time during the construction period, in accordance with the installments of the Purchase Price that have been paid.
		
	22.
	Dissolving conditions

		
	22.1.
	The Agreement is concluded under the binding conditions that:

		
	a. 
	the Environmental License is not granted on the Delivery Date at the latest and the Vendor relies on this dissolving condition; and/or

		
	b. 
	there is an obligation on the Delivery Date to offer the Property Sold to the municipality, the province or the State of the Netherlands based on the Municipal Preferential Rights Act, unless the Parties have agreed otherwise in writing.

		
	22.2.
	If a dissolving condition is fulfilled, this will be back-dated between the Parties up to the point at which the Agreement was concluded.

		
	23.
	Loss, damage, expiration

		
	23.1.
	If the Property Sold are fully or partially lost before the Delivery Date or if they are in any way substantially damaged by a circumstance that cannot be attributed to the Buyer, the Buyer can dissolve the Agreement through written notice thereof to the Vendor.

		
	23.2.
	The Vendor must notify the Buyer immediate of any damage to the Property Sold as referred to in Article 23.1. For 20 working days from the date of receipt of a written notification as referred to in the sentence above, the Buyer has the right to dissolve this Agreement through a written notification as referred to in Article 23.1, unless the Buyer is unable to determine within that term whether the Vendor has a claim against an insurer or third parties as referred to in Article 23.5.b, in which case the term can be extended by 20 working days by the Buyer through a written notification to the Vendor.

		
	23.3.
	During the term referred to in Article 23.2, the Vendor will provide the Buyer or the Buyer's employees and advisers with access to all correspondence from or to and agreements with the insurance companies involved, and other relevant documents of these insurance companies.

		
	23.4.
	At the end of the term referred to in Article 23.2, the Buyer's right to dissolve this Agreement will expire.

		
	23.5.
	If this Agreement is not dissolved as a result of the provisions of Article 23.1 because the Buyer has failed to provide the required notice of dissolution (in good time), as provided by that article:

		
	a.
	the Property Sold are delivered in the condition in which it is on the Delivery Date; and

19

		
	b.
	the Vendor will transfer all rights to the Buyer that can be exerted against any insurance company and others on whatever legal grounds, insofar as these rights are related to the compensation of damage done to the Property Sold.

		
	24.
	Force majeure, risk, insurance policies

		
	24.1.
	If a Party is unable to fully meet his obligations, within the foreseeable future, as a result of a failure that cannot be attributed to him (force majeure), the purchase will be dissolved following a written statement from the other Party to that effect. An exception is made if the seriousness or the nature of the failure does not warrant the dissolution of the Agreement and the consequences thereof.

		
	24.2.
	The risk of the Plot will transfer from the Vendor to the Buyer on signing the Deed of Delivery, without prejudice to the Contractor's obligation to keep the Plot insured during the entire construction of the Building based on an All-Risk Insurance policy.

		
	24.3.
	The Buyer will not take over any insurance policy in relation to the Property Sold.

		
	25.
	Failure

		
	25.1.
	If the bailiff's writ shows a Party to be in default, or if a Party is in serious breach of the agreement in relation to one or several of its obligations for eight (8) days after the day on which the bailiff's writ was published, including the late payment of the guarantee amount or the lack of a timely correct bank guarantee, the Party in question is in default and the other Party will have a choice (subsidiary or not) between:

		
	a.
	extending the implementation of the Agreement, in which case the Party that is in default after the aforementioned term of eight (8) days must pay a fine in the amount of ten percent (10%) of the Purchase Price for each day until the date on which they meet their obligations.

		
	b.
	dissolving the Agreement through a written statement and claiming an immediately payable fine of ten percent (10%) of the Purchase Price.

		
	25.2.
	Fines paid or payable are deducted from any damages owed plus interest and costs.

		
	25.3.
	Any sales tax payable on the fine is included in this.

		
	26.
	Previous arrangements/amendments/additions

		
	26.1.
	The Agreement shall replace all previous agreements made between the Parties regarding the purchase of the Property Sold.

		
	26.2.
	Changes and additions to the Agreement only have a legal basis between the Parties if these have been recorded in writing and legally signed by the Parties.

		
	27. 
	Role of the Civil-law Notary and Houthoff Buruma as the Party adviser

		
	27.1.
	Referring to the Rules of Professional Conduct of the Royal Notarial Association (Koninklijke Notariële Beroepsorganisatie), the Parties expressly state that they agree that:

		
	a. 
	Houthoff Buruma and the Notary have acted as advisers of the Vendor in the legal actions observed in this Agreement and can later act as advisers of or on behalf of the Vendor in the event of a dispute in relation to this Agreement or any legal actions included in it or related to it; and

		
	b. 
	the Notary authenticates the Deed of Delivery, despite the fact that this notary is associated with Houthoff Buruma.

		
	27.2.
	The general terms and conditions upheld by Houthoff Buruma apply to the services to be provided by the Notary (and Houthoff Buruma), and these contain a limitation of liability. A copy of the general terms and conditions has been attached to the Agreement as Appendix 16.

		
	28.
	Governing law and jurisdiction

		
	28.1.
	The Agreement is governed by Dutch law.

20

		
	28.2.
	The Court of Amsterdam has the jurisdiction to hear first instance litigation which has arisen as a result of the Agreement. There is a dispute if a Party notifies the other Party of this.

		
	28.3.
	The General Extension of Time-Limits Act applies to the terms stated in the Agreement.

		
	29.
	Miscellaneous

		
	29.1.
	The considerations are part of the Agreement.

		
	29.2.
	The Appendices form part of the Agreement and are inextricably linked to it. A reference to the Agreement will therefore also include a reference to the Appendices. In the event of a conflict between the provisions of the Agreement and the provisions of the Appendices, the provisions of the Agreement shall prevail.

		
	29.3.
	Written notifications referred to in the Agreement also include e-mail correspondence, unless expressly stated otherwise.

		
	29.4.
	The Parties' obligations to each other as a result of the Agreement are, unless and insofar as the nature and scope of the obligations in question do not expressly provide otherwise, indivisible.

		
	29.5.
	For the purpose of the Agreement and its consequences, until the Deed of Delivery is signed, the Parties will choose their registered office as the Notary's office.

		
	29.6.
	By countersigning the Agreement, the Notary states that he will cooperate with any transfer of contracts as referred to in Article 2, take on the Notary's obligations pursuant to the Agreement and the authorizations and powers provided to the Notary.

		
	29.7.
	If a provision of the Agreement turns out to be void or voidable, this does not affect the validity of the other provisions of the Agreement, insofar as the provision in question does not relate to the calculation or payment of the Purchase Price.

		
	29.8.
	The failure by a Party to exercise its rights pursuant to the Agreement cannot be interpreted as the waiver of these rights.

		
	29.9.
	The dissolving conditions between the Vendor and the Buyer will no longer be effective when signing the Deed of Delivery. Any suspensive conditions agreed between the Vendor and the Buyer will be deemed to have been met when signing the Deed of Delivery.

		
	29.10.
	In the Deed of Delivery, the Parties will waive the right to dissolve the Agreement and the agreement set out in the Deed of Delivery.

		
	29.11.
	The most recent date on which a Party has signed this deed will apply as the date of signature of the Agreement.

		
	29.12.
	The titles of articles are only intended to improve readability. Neither of the Parties can derive any rights from the titles of articles.

		
	29.13.
	The Parties are obliged to keep (the contents of) the Agreement and all related information confidential. Violation of this duty of confidentiality by a Party shall lead to liability for all of the damages incurred by the other Party as a result of this.

- Signatures on next page -

21

Signature page belonging to the purchase agreement between Park 20|20 Plantronics C.V. and Plantronics B.V. in relation to the Plantronics building in Hoofddorp, signed in Hoofddorp on 12 December 2014:

	
			
	/s/ C.C. Zachariasse
	 
	/s/ R. van den Broek

	Park 20|20 C.V.
	 
	Park 20|20 C.V.

	by: Park 20|20 Beheer B.V.
	 
	by: Park 20|20 Beheer B.V.

	by: C.C. Zachariasse
	 
	by: R. van den Broek

	 
	 
	by: authorized representative M.R. Bouwens

	 
	 
	 

	/s/ M. Bezemer
	 
	/s/ R.R. Frankfort

	Plantronics B.V.

	 
	Plantronics B.V.

	by: M. Bezemer
	 
	by: R.R. Frankfort

	 
	 
	 

	/s/ D. de Jong
	 
	 

	Civil-law Notary

	 
	 

	by: D. de Jong
	 
	 

	 
	 
	 

	/s/ C.C. Zachariasse
	 
	/s/ R. van den Broek

	Park 20|20 Plantronics C.V.

	 
	Park 20|20 Plantronics C.V.

	by: Park 20|20 Beheer B.V.
	 
	by: Park 20|20 Beheer B.V.

	by: C.C. Zachariasse
	 
	by: R. van den Broek

	 
	 
	by: authorized representative M.R. Bouwens

22EX-10.1

 Exhibit 10.1 

MYRIAD GENETICS, INC. 

Executive Retention Agreement 

THIS EXECUTIVE RETENTION AGREEMENT (this “Agreement”), by and between Myriad Genetics, Inc., a Delaware corporation (the
“Company”), and R. Bryan Riggsbee (the “Executive”), is made as of December 18, 2014 (the “Effective Date”). 

WHEREAS, the Company recognizes that, as is the case with many publicly-held corporations, the possibility of a change in control of the
Company exists and that such possibility, and the uncertainty and questions which it may raise among key personnel, may result in the departure or distraction of key personnel to the detriment of the Company and its stockholders, and 

WHEREAS, the Board of Directors of the Company (the “Board”) has determined that appropriate steps should be taken to reinforce and
encourage the continued employment and dedication of the Company’s key personnel without distraction from the possibility of a change in control of the Company and related events and circumstances. 

NOW, THEREFORE, as an inducement for and in consideration of the Executive remaining in its employ, the Company agrees that the Executive
shall receive the benefits set forth in this Agreement, including without limitation, those benefits in the event the Executive’s employment with the Company is terminated under the circumstances described below subsequent to a Change in
Control (as defined in Section 1.1). 
 1. Key Definitions. 

As used herein, the following terms shall have the following respective meanings: 

1.1 “Change in Control” means an event or occurrence set forth in any one or more of subsections (a) through
(d) below (including an event or occurrence that constitutes a Change in Control under one of such subsections but is specifically exempted from another such subsection): 

(a) the acquisition by an individual, entity or group (within the meaning of Section 13(d) or 14(d) of the Securities Exchange Act of
1934, as amended (the “Exchange Act”)) (a “Person”) of beneficial ownership of any capital stock of the Company if, after such acquisition, such Person beneficially owns (within the meaning of Rule 13d-3 promulgated under the
Exchange Act) 20% or more of either (i) the then-outstanding shares of common stock of the Company (the “Outstanding Company Common Stock”) or (ii) the combined voting power of the then-outstanding securities of the Company
entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however, that for purposes of this subsection (a), the following acquisitions shall not constitute a Change in Control:
(i) any acquisition directly from the Company (excluding an acquisition pursuant to the exercise, conversion or exchange of any security exercisable for, convertible into or exchangeable for common stock or voting securities of the Company,
unless the Person exercising, converting or exchanging such security acquired such security directly from the 

 (b) Company or an underwriter or agent of the Company), (ii) any acquisition by the
Company, or (iii) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company; or 

(c) such time as the Continuing Directors (as defined below) do not constitute a majority of the Board (or, if applicable, the Board of
Directors of a successor corporation to the Company), where the term “Continuing Director” means at any date a member of the Board (i) who was a member of the Board on the date of the execution of this Agreement or (ii) who was
nominated or elected subsequent to such date by at least a majority of the directors who were Continuing Directors at the time of such nomination or election or whose election to the Board was recommended or endorsed by at least a majority of the
directors who were Continuing Directors at the time of such nomination or election; provided, however, that there shall be excluded from this clause (ii) any individual whose initial assumption of office occurred as a result of an
actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents, by or on behalf of a person other than the Board; or 

(d) the consummation of a merger, consolidation, reorganization, recapitalization or share exchange involving the Company or a sale or other
disposition of all or substantially all of the assets of the Company in one or a series of transactions (a “Business Combination”), unless, immediately following such Business Combination, the following condition is satisfied: all or
substantially all of the individuals and entities who were the beneficial owners of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or
indirectly, more than 50% of the then-outstanding shares of common stock and the combined voting power of the then-outstanding securities entitled to vote generally in the election of directors, respectively, of the resulting or acquiring
corporation in such Business Combination (which shall include, without limitation, a corporation which as a result of such transaction owns the Company or substantially all of the Company’s assets either directly or through one or more
subsidiaries) (such resulting or acquiring corporation is referred to herein as the “Acquiring Corporation”) in substantially the same proportions as their ownership, immediately prior to such Business Combination, of the Outstanding
Company Common Stock and Outstanding Company Voting Securities, respectively; or 
 (e) approval by the stockholders of the Company of a
complete liquidation or dissolution of the Company. 
 1.2 “Change in Control Date” means the first date during the Term
(as defined in Section 2) on which a Change in Control occurs. Anything in this Agreement to the contrary notwithstanding, if (a) a Change in Control occurs, (b) the Executive’s employment with the Company is terminated prior to
the date on which the Change in Control occurs, and (c) it is reasonably demonstrated by the Executive that such termination of employment (i) was at the request of a third party who has taken steps reasonably calculated to effect a Change
in Control or (ii) otherwise arose in connection with or in anticipation of a Change in Control, then for all purposes of this Agreement the “Change in Control Date” shall mean the date immediately prior to the date of such
termination of employment. 

 1.3 “Cause” means: 

(a) the Executive’s willful and continued failure to substantially perform his or her reasonable assigned duties (other than any such
failure resulting from incapacity due to physical or mental illness or any failure after the Executive gives notice of termination for Good Reason), which failure is not cured within 30 days after a written demand for substantial performance is
received by the Executive from the Board of Directors of the Company which specifically identifies the manner in which the Board of Directors believes the Executive has not substantially performed the Executive’s duties; or 

(b) the Executive’s willful engagement in illegal conduct or gross misconduct which is materially and demonstrably injurious to the
Company. 
 For purposes of this Section 1.3, no act or failure to act by the Executive shall be considered “willful” unless
it is done, or omitted to be done, in bad faith and without reasonable belief that the Executive’s action or omission was in the best interests of the Company. 

1.4 “Good Reason” means the occurrence, without the Executive’s written consent, of any of the events or circumstances
set forth in clauses (a) through (f) below. 
 (a) the assignment to the Executive of duties inconsistent in any material respect
with the Executive’s position (including status, offices, titles and reporting requirements), authority or responsibilities in effect immediately prior to the earliest to occur of (i) the Change in Control Date, (ii) the date of the
execution by the Company of the initial written agreement or instrument providing for the Change in Control or (iii) the date of the adoption by the Board of Directors of a resolution providing for the Change in Control (with the earliest to
occur of such dates referred to herein as the “Measurement Date”), or any other action or omission by the Company which results in a material diminution in such position, authority or responsibilities; 

(b) a reduction in the Executive’s annual base salary as in effect on the Measurement Date; 

(c) the failure by the Company to (i) continue in effect any material compensation, pension, retirement or benefit plan or program
(including without limitation any 401(k), life insurance, medical, health and accident or disability plan and any vacation program or policy) (a “Benefit Plan”) in which the Executive participates or which is applicable to the Executive
immediately prior to the Measurement Date, unless an equitable arrangement (embodied in an ongoing substitute or alternative plan) has been made with respect to such plan or program, (ii) continue the Executive’s participation therein (or
in such substitute or alternative plan) on a basis not materially less favorable, both in terms of the amount of benefits provided and the level of the Executive’s participation relative to other participants, than the basis existing
immediately prior to the Measurement Date or (iii) award cash bonuses to the Executive in amounts and in a manner substantially consistent with past practice; 

(d) a change by the Company in the location at which the Executive performs his or her principal duties for the Company to a new location
that is both (i) outside a radius of 50 miles from the Executive’s principal residence immediately prior to the 

  
 -2- 

 Measurement Date and (ii) more than 50 miles from the location at which the Executive performed his or her
principal duties for the Company immediately prior to the Measurement Date; or a requirement by the Company that the Executive travel on Company business to a substantially greater extent than required immediately prior to the Measurement Date; 

(e) the failure of the Company to obtain the agreement from any successor to the Company to assume and agree to perform this Agreement, as
required by Section 7.1; or 
 (f) any failure of the Company to pay or provide to the Executive any portion of the Executive’s
compensation or benefits due under any Benefit Plan within seven days of the date such compensation or benefits are due, or any material breach by the Company of this Agreement or any employment agreement with the Executive. 

In addition, in an effort to foster and retain the employment of the Executive following a Change in Control, the termination of employment by the Executive
for any reason (except for those set forth in section 1.4(a)-(f)), or no reason, during the 90-day period beginning on the first anniversary of the Change in Control Date shall be deemed to be termination for Good Reason for all purposes under this
Agreement; however, in the case of a termination of employment by the Executive pursuant to this paragraph, those benefits payable to the Executive under section 4.1(a)(i)(2) shall be reduced by one-half. 

The Executive’s right to terminate his or her employment for Good Reason shall not be affected by his or her incapacity due to physical
or mental illness. 
 1.5 “Disability” means the Executive’s absence from the full-time performance of the
Executive’s duties with the Company for 180 consecutive calendar days as a result of incapacity due to mental or physical illness which is determined to be total and permanent by a physician selected by the Company or its insurers and
acceptable to the Executive or the Executive’s legal representative. 
 2. Term of Agreement. This Agreement, and all rights and
obligations of the parties hereunder, shall take effect upon the Effective Date and shall expire upon the first to occur of (a) the expiration of the Term (as defined below) if a Change in Control has not occurred during the Term, (b) the
date 24 months after the Change in Control Date, if the Executive is still employed by the Company as of such later date, or (c) the fulfillment by the Company of all of its obligations under this Agreement if the Executive’s employment
with the Company terminates within 24 months following the Change in Control Date. “Term” shall mean the period commencing as of the Effective Date and continuing in effect through December 31, 2015; provided, however, that
commencing on January 1, 2016 and each January 1 thereafter, the Term shall be automatically extended for one additional year unless, not later than 90 days prior to the scheduled expiration of the Term (or any extension thereof), the
Company shall have given the Executive written notice that the Term will not be extended. 
 3. Employment Status; Termination Following
Change in Control. 
 3.1 Not an Employment Contract. The Executive acknowledges that this Agreement does not constitute a
contract of employment or impose on the Company any 

  
 -3- 

 obligation to retain the Executive as an employee and that this Agreement does not prevent the Executive from
terminating employment at any time. If the Executive’s employment with the Company terminates for any reason and subsequently a Change in Control shall occur, the Executive shall not be entitled to any benefits hereunder except as otherwise
provided pursuant to Section 1.2. 
 3.2 Termination of Employment. 

(a) If the Change in Control Date occurs during the Term, any termination of the Executive’s employment by the Company or by the
Executive within 24 months following the Change in Control Date (other than due to the death of the Executive) shall be communicated by a written notice to the other party hereto (the “Notice of Termination”), given in accordance with
Section 8. Any Notice of Termination shall: (i) indicate the specific termination provision (if any) of this Agreement relied upon by the party giving such notice, (ii) to the extent applicable, set forth in reasonable detail the
facts and circumstances claimed to provide a basis for termination of the Executive’s employment under the provision so indicated and (iii) specify the Date of Termination (as defined below). The effective date of an employment termination
(the “Date of Termination”) shall be the close of business on the date specified in the Notice of Termination (which date may not be less than 15 days or more than 120 days after the date of delivery of such Notice of Termination) in the
case of a termination other than one due to the Executive’s death. In the case of the Executive’s death, the Date of Termination shall be the date of the Executive’s death. In the event the Company fails to satisfy the requirements of
Section 3.2(a) regarding a Notice of Termination, the purported termination of the Executive’s employment pursuant to such Notice of Termination shall not be effective for purposes of this Agreement. 

(b) The failure by the Executive or the Company to set forth in the Notice of Termination any fact or circumstance which contributes to a
showing of Good Reason or Cause shall not waive any right of the Executive or the Company, respectively, hereunder or preclude the Executive or the Company, respectively, from asserting any such fact or circumstance in enforcing the Executive’s
or the Company’s rights hereunder. 
 (c) Any Notice of Termination for Cause given by the Company must be given within 90 days of the
occurrence (or if later, the discovery) of the event(s) or circumstance(s) which constitute(s) Cause. Prior to any Notice of Termination for Cause being given (and prior to any termination for Cause being effective), the Executive shall be entitled
to a hearing before the Board of Directors of the Company at which he or she may, at his or her election, be represented by counsel and at which he or she shall have a reasonable opportunity to be heard. Such hearing shall be held on not less than
15 days prior written notice to the Executive stating the Board of Directors’ intention to terminate the Executive for Cause and stating in detail the particular event(s) or circumstance(s) which the Board of Directors believes constitutes
Cause for termination. 
 (d) Any Notice of Termination for Good Reason given by the Executive must be given within 90 days of the
occurrence of the event(s) or circumstance(s) which constitute(s) Good Reason. 

  
 -4- 

 4. Benefits to Executive. 

4.1 Benefits. If a Change in Control Date occurs during the Term and the Executive’s employment with the Company terminates within
24 months following the Change in Control Date, the Executive shall be entitled to the following benefits: 
 (a) Termination Without
Cause or for Good Reason. If the Executive’s employment with the Company is terminated by the Company (other than for Cause, Disability or Death) or by the Executive for Good Reason within 24 months following the Change in Control Date,
then the Executive shall be entitled to the following benefits: 
 (i) the Company shall pay to the Executive the following amounts: 

(1) in a lump sum, in cash, within 30 days after the Date of Termination, the sum of (A) the Executive’s base salary through the
Date of Termination, (B) a pro rata current year bonus amount (calculated by dividing the number of full and partial months of the current fiscal year in which the Executive is employed through the Date of Termination by 12, and multiplying
this fraction by the highest annual bonus payment amount paid to Executive in the preceding three years), and (C) the amount of any compensation previously deferred by the Executive (together with any accrued interest or earnings thereon) and
any accrued vacation pay, in each case to the extent not previously paid (the sum of the amounts described in clauses (A), (B), and (C) shall be hereinafter referred to as the “Accrued Obligations”); and 

(2) in a lump sum, in cash, within 30 days after the Date of Termination, the sum of (A) three times the Executive’s highest annual
base salary at the Company during the three-year period prior to the Change in Control Date and (B) three times the Executive’s highest annual bonus amount at the Company during the three-year period prior to the Change in Control Date;

 (ii) for 36 months after the Date of Termination, or such longer period as may be provided by the terms of the appropriate plan,
program, practice or policy, the Company shall continue to provide benefits to the Executive and the Executive’s family at least equal to those which would have been provided to them if the Executive’s employment had not been terminated,
in accordance with the applicable Benefit Plans in effect on the Measurement Date or, if more favorable to the Executive and his or her family, in effect generally at any time thereafter with respect to other peer executives of the Company and its
affiliated companies; provided, however, that if the Executive becomes reemployed with another employer and is eligible to receive a particular type of benefits (e.g., health insurance benefits) from such employer on terms at least as
favorable to the Executive and his or her family as those being provided by the Company, then the Company shall no longer be required to provide those particular benefits to the Executive and his or her family; and 

(iii) to the extent not previously paid or provided, the Company shall timely pay or provide to the Executive any other amounts or benefits
required to be paid or provided or which the Executive is eligible to receive following the Executive’s termination of 

  
 -5- 

 employment under any plan, program, policy, practice, contract or agreement of the Company and its affiliated
companies (such other amounts and benefits shall be hereinafter referred to as the “Other Benefits”). 
 (b) Resignation
without Good Reason; Termination for Death or Disability. If the Executive voluntarily terminates his or her employment with the Company within 24 months following the Change in Control Date, excluding a termination for Good Reason, or if the
Executive’s employment with the Company is terminated by reason of the Executive’s death or Disability within 24 months following the Change in Control Date, then the Company shall (i) pay the Executive (or his or her
estate, if applicable), in a lump sum in cash within 30 days after the Date of Termination, the Accrued Obligations and (ii) timely pay or provide to the Executive the Other Benefits. 

(c) Termination for Cause. If the Company terminates the Executive’s employment with the Company for Cause within 24 months
following the Change in Control Date, then the Company shall only pay the Executive such amounts, and provide such benefits, as is required by law. 

4.2 Vesting of Stock Options. Upon the occurrence of a Change in Control, the Company shall cause all Executive options to purchase
Company stock, which options were issued pursuant to the Company’s employee stock option plans and which options are outstanding immediately prior to the Change in Control Date, to become fully vested and exercisable as of the Change in Control
Date. 
 4.3 Mitigation. The Executive shall not be required to mitigate the amount of any payment or benefits provided for in this
Section 4 by seeking other employment or otherwise. Further, the amount of any payment or benefits provided for in this Section 4 shall not be reduced by any compensation earned by the Executive as a result of employment by another
employer, by retirement benefits, by offset against any amount claimed to be owed by the Executive to the Company or otherwise. 
 4.4
Outplacement Services. In the event the Executive is terminated by the Company (other than for Cause, Disability or Death), or the Executive terminates employment for Good Reason, within 24 months following the Change in Control Date, the
Company shall provide outplacement services through one or more outside firms of the Executive’s choosing up to an aggregate of $25,000, with such services to extend until the first to occur of (i) 12 months following the termination of
Executive’s employment, or (ii) the date the Executive secures full time employment. 
 4.5 Release. As a condition to
Executive receiving the benefits under section 4.1(a)(i)(2) and (3), the Executive must first execute and deliver to Company a general release of claims against the Company and its affiliates in a form substantially similar to the general release
attached hereto as Exhibit A, and such release, by its terms, has become irrevocable. 

  
 -6- 

 5. Certain Additional Payments By Company. 

5.1 General. Notwithstanding anything in this Agreement to the contrary and except as set forth in this Section 5, in the event it
shall be determined that any payment, benefit or distribution by the Company to or for the benefit of the Executive (whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, but determined without
regard to any additional payments required under this Section 5) (a “Payment”) would be subject to the excise tax imposed by section 4999 of the Internal Revenue Code of 1986, as amended, or any interest or penalties are incurred by
the Executive with respect to such excise tax (such excise tax, together with any such interest and penalties, are hereinafter collectively referred to as the “Excise Tax”), then the Executive shall be entitled to receive an additional
payment (a “Gross-Up Payment”) in an amount such that after payment by the Executive of all taxes, including, without limitation, any income and payroll taxes (and any interest and penalties imposed with respect thereto) and Excise Tax
imposed upon the Gross-Up Payment, the Executive retains an amount of the Gross-Up Payment equal to the Excise Tax (including any interest or penalties imposed with respect to such taxes) imposed upon the Payments. 

5.2 Procedures. Subject to the provisions of Section 5.3, all determinations required to be made under this Section 5,
including whether and when a Gross-Up Payment is required and the amount of such Gross-Up Payment and the assumptions to be utilized in arriving at such determination, shall be made by KPMG LLP or such other certified public accounting firm as may
be designated by the Executive and reasonably acceptable to the Company (the “Accounting Firm”) which shall provide detailed supporting calculations both to the Company and the Executive within 15 business days of the receipt of notice
from the Executive that there has been a Payment, or such earlier time as is requested by the Company. In the event that the Accounting Firm is serving as accountant or auditor for the individual, entity or group effecting the Change in Control, the
Executive may appoint another nationally recognized accounting firm and reasonably acceptable to the Company to make the determinations required hereunder (which accounting firm shall then be referred to as the Accounting Firm hereunder). All fees
and expenses of the Accounting Firm shall be borne solely by the Company. Any Gross-Up Payment, as determined pursuant to this Section 5, shall be paid by the Company to the Executive within five business days of the receipt of the Accounting
Firm’s determination. Any determination by the Accounting Firm shall be binding upon the Company and the Executive, subject to any determination otherwise by the Internal Revenue Service. As a result of the uncertainty in the application of
Section 4999 of the Code at the time of the initial determination by the Accounting Firm hereunder, it is possible that Gross-Up Payments which will not have been made by the Company should have been made (“Underpayment”), consistent
with the calculations required to be made hereunder. In the event that the Company exhausts its remedies pursuant to Section 5.3 and the Executive thereafter is required to make a payment of any Excise Tax, the Accounting Firm shall determine
the amount of the Underpayment that has occurred and any such Underpayment shall be promptly paid by the Company to or for the benefit of the Executive. In addition, in certain instances an election may be made to recalculate the Excise Tax under
applicable law. The Company may exercise such election and cause a recalculation to be made by the Accounting Firm, subject to the other provisions hereof. 

5.3 Notification of Claims. The Executive shall notify the Company in writing of any claim by the Internal Revenue Service that, if
successful, would require the 

  
 -7- 

 payment by the Company of the Gross-Up Payment. The Executive shall not pay such claim prior to the expiration of
the 30-day period following the date on which it gives such notice to the Company (or such shorter period ending on the date that any payment of taxes with respect to such claim is due). If the Company notifies the Executive in writing prior to the
expiration of such period that it desires to contest such claim, the Executive shall: 
 (i) give the Company any information reasonably
requested by the Company relating to such claim, 
 (ii) take such action in connection with contesting such claim as the Company shall
reasonably request in writing from time to time, including, without limitation, accepting legal representation with respect to such claim by attorneys reasonably selected by the Company, 

(iii) cooperate with the Company in good faith in order effectively to contest such claim, and 

(iv) permit the Company to participate in any proceedings relating to such claim; provided, however, that the Company shall bear and pay
directly all costs and expenses (including additional interest and penalties) incurred in connection with such contest and shall indemnify and hold the Executive harmless, on an after-tax basis, for any Excise Tax or income tax (including interest
and penalties with respect thereto) imposed as a result of such representation and payment of costs and expenses. Without limitation on the foregoing provisions of this Section 5.3, the Company shall control all proceedings taken in connection
with such contest and, at its sole option, may pursue or forgo any and all administrative appeals, proceedings, hearings and conferences with the taxing authority in respect of such claim and may, at its sole option, either direct the Executive to
pay the tax claimed and sue for a refund or contest the claim in any permissible manner, and the Executive agrees to prosecute such contest to a determination before any administrative tribunal, in a court of initial jurisdiction and in one or more
appellate courts, as the Company shall determine; provided, however, that if the Company directs the Executive to pay such claim and sue for a refund, the Company shall advance the amount of such payment to the Executive, on an interest-free basis
and shall indemnify and hold the Executive harmless, on an after-tax basis, from any Excise Tax or income tax (including interest or penalties with respect thereto) imposed with respect to such advance or with respect to any imputed income with
respect to such advance; and further provided that any extension of the statute of limitations relating to payment of taxes for the taxable year of the Executive with respect to which such contested amount is claimed to be due is limited solely to
such contested amount. Furthermore, the Company’s control of the contest shall be limited to issues with respect to which a Gross-Up Payment would be payable hereunder and the Executive shall be entitled to settle or contest, as the case may
be, any other issue raised by the Internal Revenue Service or any other taxing authority. 
 5.4 Refunds. If, after the receipt by
the Executive of an amount advanced by the Company pursuant to Section 5.3, the Executive becomes entitled to receive any refund with respect to such claim, the Executive shall (subject to the Company’s complying with the requirements of
Section 5.3) promptly pay to the Company the amount of such refund (together with any interest actually paid or credited thereon after taxes applicable thereto). If, after the receipt by the Executive of an amount advanced by the Company
pursuant to Section 5.3, a determination is made that the Executive shall not be entitled to any refund with respect to such claim and the Company does not notify the Executive in writing of its intent to contest such denial of refund prior to
the expiration of 30 days after such determination, then such advance shall be forgiven and shall not be required to be repaid and the amount of such advance shall offset, to the extent thereof, the amount of Gross-Up Payment required to be paid.

  
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 5.5 Sarbanes Oxley Act. No provision of this Section 5 is intended to be in violation
of the loan prohibitions of the Sarbanes-Oxley Act and to the extent any payment would be in violation thereof, such amounts shall be deemed a payment to the Executive with no obligation to refund or otherwise repay. 

6. Disputes. 
 6.1
Settlement of Disputes; Arbitration. All claims by the Executive for benefits under this Agreement shall be directed to and determined by the Board of Directors of the Company and shall be in writing. Any denial by the Board of Directors of a
claim for benefits under this Agreement shall be delivered to the Executive in writing and shall set forth the specific reasons for the denial and the specific provisions of this Agreement relied upon. The Board of Directors shall afford a
reasonable opportunity to the Executive for a review of the decision denying a claim. Any further dispute or controversy arising under or in connection with this Agreement shall be settled exclusively by arbitration in Salt Lake City, Utah, in
accordance with the rules of the American Arbitration Association then in effect. Judgment may be entered on the arbitrator’s award in any court having jurisdiction. 

6.2 Expenses. The Company agrees to pay as incurred, to the full extent permitted by law, all legal, accounting and other fees and
expenses which the Executive may reasonably incur as a result of any claim or contest (regardless of the outcome thereof) by the Company, the Executive or others regarding the validity or enforceability of, or liability under, any provision of this
Agreement or any guarantee of performance thereof (including as a result of any contest by the Executive regarding the amount of any payment or benefits pursuant to this Agreement), plus in each case interest on any delayed payment at the applicable
Federal rate provided for in Section 7872(f)(2)(A) of the Code. This Section 6.2 shall not apply to any claim made by the Executive which is not made in good faith or which is determined by the arbitrator or a court to be frivolous. 

6.3 Compensation During a Dispute. If the Change in Control Date occurs during the Term and the Executive’s employment with the
Company terminates within 24 months following the Change in Control Date, and the right of the Executive to receive any benefits under this Agreement (or the amount or nature of the benefits to which he or she is entitled to receive) are the subject
of a dispute between the Company and the Executive, the Company shall continue (a) to pay to the Executive his or her base salary in effect as of the Measurement Date and (b) to provide benefits to the Executive and the Executive’s
family at least equal to those which would have been provided to them, if the Executive’s employment had not been terminated, in accordance with the applicable Benefit Plans in effect on the Measurement Date, until such dispute is resolved
either by mutual written agreement of the parties or by an arbitrator’s award pursuant to Section 6.1, but in no event more than 12 months after the date of such dispute. Following the resolution of such dispute, the sum of the payments
made to the Executive under clause (a) of this Section 6.3 shall be deducted from any cash payment which the Executive is entitled to receive pursuant to Section 4; and if such sum exceeds the amount of the cash payment which the
Executive is entitled to receive pursuant to Section 4, the excess of such sum over the amount of such payment shall be repaid (without interest) by the Executive to the Company within 60 days of the resolution of such dispute. 

  
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 7. Successors. 

7.1 Successor to Company. The Company shall require any Acquiring Corporation or any other successor (whether direct or indirect, by
purchase, merger, consolidation or otherwise) to at least one-third or more of Company’s gross assets to expressly assume and agree to perform this Agreement to the same extent that the Company would be required to perform it if no such
succession had taken place. Failure of the Company to obtain an assumption of this Agreement at or prior to the effectiveness of any succession shall be a breach of this Agreement and shall constitute Good Reason if the Executive elects to terminate
employment, except that for purposes of implementing the foregoing, the date on which any such succession becomes effective shall be deemed the Date of Termination. As used in this Agreement, “Company” shall mean the Company as defined
above and any successor to its business or assets as aforesaid which assumes and agrees to perform this Agreement, by operation of law or otherwise. 

7.2 Successor to Executive. This Agreement shall inure to the benefit of and be enforceable by the Executive’s personal or legal
representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. If the Executive should die while any amount would still be payable to the Executive or his or her family hereunder if the Executive had continued to
live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to the executors, personal representatives or administrators of the Executive’s estate. 

8. Notice. All notices, instructions and other communications given hereunder or in connection herewith shall be in writing. Any such
notice, instruction or communication shall be sent either (i) by registered or certified mail, return receipt requested, postage prepaid, or (ii) prepaid via a reputable nationwide overnight courier service, in each case addressed to the
Company, at 320 Wakara Way, Salt Lake City, Utah 84108, Attn: General Counsel, and to the Executive at the address for notices indicated below (or to such other address as either the Company or the Executive may have furnished to the other in
writing in accordance herewith). Any such notice, instruction or communication shall be deemed to have been delivered five business days after it is sent by registered or certified mail, return receipt requested, postage prepaid, or one business day
after it is sent via a reputable nationwide overnight courier service. Either party may give any notice, instruction or other communication hereunder using any other means, but no such notice, instruction or other communication shall be deemed to
have been duly delivered unless and until it actually is received by the party for whom it is intended. 
 9. Miscellaneous. 

9.1 Timing for Payment of Benefits. To the extent necessary to avoid taxation under section 409A and the rules and regulations
promulgated thereunder, all payments and benefits provided for under the Agreement shall be made six (6) months and a day following the effective date of the Executive’s termination of employment from the Company; provided further that any
such payment or benefit may be made earlier to the extent permitted and provided for under section 409A of the Code and the rules and regulations promulgated thereunder without triggering any income tax obligations under section 409A. 

  
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 9.2 Construction. Section 409A and the rules and regulations promulgated thereunder,
in general, provide for the taxation of certain payments made following the termination of employment of an employee. Section 409A and the rules and regulations promulgated thereunder provide that payments will not be subject to taxation under
section 409A if certain conditions are met. It is the intent of the parties that any payments made to the Executive following a termination of employment are to not be subject to taxation under section 409A. Accordingly, this Agreement shall be
construed, interpreted and applied so as to accomplish this intent, and also recognizing that there may be future guidance and interpretation of the application of section 409A and the rules and regulations promulgated thereunder by the Internal
Revenue Service or the judicial courts. 
 9.3 Employment by Subsidiary. For purposes of this Agreement, the Executive’s
employment with the Company shall not be deemed to have terminated solely as a result of the Executive continuing to be employed by a wholly-owned subsidiary of the Company. 

9.4 Severability. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability
of any other provision of this Agreement, which shall remain in full force and effect. 
 9.5 Injunctive Relief. The Company and the
Executive agree that any breach of this Agreement by the Company is likely to cause the Executive substantial and irrevocable damage and therefore, in the event of any such breach, in addition to such other remedies which may be available, the
Executive shall have the right to specific performance and injunctive relief. 
 9.6 Governing Law. The validity, interpretation,
construction and performance of this Agreement shall be governed by the internal laws of the State of Utah, without regard to conflicts of law principles. 

9.7 Waivers. No waiver by the Executive at any time of any breach of, or compliance with, any provision of this Agreement to be
performed by the Company shall be deemed a waiver of that or any other provision at any subsequent time. 
 9.8 Counterparts. This
Agreement may be executed in counterparts, each of which shall be deemed to be an original but both of which together shall constitute one and the same instrument. 

9.9 Tax Withholding. Any payments provided for hereunder shall be paid net of any applicable tax withholding required under federal,
state or local law. 
 9.10 Entire Agreement. This Agreement sets forth the entire agreement of the parties hereto in respect of the
subject matter contained herein and supersedes all prior agreements, promises, covenants, arrangements, communications, representations or warranties, whether oral or written, by any officer, employee or representative of any party hereto in respect
of the subject matter contained herein; and any prior agreement of the parties hereto in respect of the subject matter contained herein is hereby terminated and cancelled. 

  
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 9.11 Amendments. This Agreement may be amended or modified only by a written instrument
executed by both the Company and the Executive. 
 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and
year first set forth above. 
  

					
	MYRIAD GENETICS, INC.				EXECUTIVE
			
	 /s/ Peter D. Meldrum
				 /s/ R. Bryan Riggsbee

	By: Peter D. Meldrum				Name: R. Bryan Riggsbee
	Title: President and CEO				Address:

  
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 EXHIBIT A 

GENERAL RELEASE 
 1. General Release. In
consideration of the payments and benefits to be made under that certain Executive Retention Agreement, dated December 18, 2014 (the “Agreement”), R. Bryan Riggsbee (the “Executive”), with the intention of binding the
Executive and the Executive’s heirs, executors, administrators and assigns, does hereby release, remise, acquit and forever discharge Myriad Genetics, Inc. (the “Company”) and each of its subsidiaries and affiliates (the “Company
Affiliated Group”), their present and former officers, directors, executives, agents, attorneys, employees and employee benefits plans (and the fiduciaries thereof), and the successors, predecessors and assigns of each of the foregoing
(collectively, the “Company Released Parties”), of and from any and all claims, actions, causes of action, complaints, charges, demands, rights, damages, debts, sums of money, accounts, financial obligations, suits, expenses,
attorneys’ fees and liabilities of whatever kind or nature in law, equity or otherwise, whether accrued, absolute, contingent, unliquidated or otherwise and whether now known or unknown, suspected or unsuspected which the Executive,
individually or as a member of a class, now has, owns or holds, or has at any time heretofore had, owned or held, against any Company Released Party in any capacity, including, without limitation, any and all claims (i) arising out of or in any
way connected with the Executive’s service to any member of the Company Affiliated Group (or the predecessors thereof) in any capacity, or the termination of such service in any such capacity, (ii) for severance or vacation benefits,
unpaid wages, salary or incentive payments, (iii) for breach of contract, wrongful discharge, impairment of economic opportunity, defamation, intentional infliction of emotional harm or other tort and (iv) for any violation of applicable
state and local labor and employment laws (including, without limitation, all laws concerning unlawful and unfair labor and employment practices), any and all claims based on the Executive Retirement Income Security Act of 1974 (“ERISA”),
any and all claims arising under the civil rights laws of any federal, state or local jurisdiction, including, without limitation, Title VII of the Civil Rights Act of 1964 (“Title VII”), the Americans with Disabilities Act
(“ADA”), Sections 503 and 504 of the Rehabilitation Act, the Family and Medical Leave Act, and any and all claims under any whistleblower laws or whistleblower provisions of other laws, excepting only: 

(a) rights of the Executive under this General Release and the Agreement; 

(b) rights of the Executive relating to equity awards held by the Executive as of his or her Date of Termination (as defined in the
Agreement); 
 (c) the right of the Executive to receive COBRA continuation coverage in accordance with applicable law; 

(d) rights to indemnification the Executive may have (i) under applicable corporate law, (ii) under the by-laws or certificate of
incorporation of any Company Released Party or (iii) as an insured under any director’s and officer’s liability insurance policy now or previously in force; 

(e) claims (i) for benefits under any health, disability, retirement, deferred compensation, life insurance or other, similar Executive
benefit plan or arrangement of the Company Affiliated Group and (ii) for earned but unused vacation pay through the Date of Termination in accordance with applicable Company policy; and 

(f) claims for the reimbursement of unreimbursed business expenses incurred prior to the Date of Termination pursuant to applicable Company
policy. 

  
 -13- 

 2. No Admissions. The Executive acknowledges and agrees that this General Release is not to be construed
in any way as an admission of any liability whatsoever by any Company Released Party, any such liability being expressly denied. 
 3. Application to all
Forms of Relief. This General Release applies to any relief no matter how called, including, without limitation, wages, back pay, front pay, compensatory damages, liquidated damages, punitive damages for pain or suffering, costs and
attorney’s fees and expenses. 
 4. Specific Waiver. The Executive specifically acknowledges that his or her acceptance of the terms of this
General Release is, among other things, a specific waiver of his or her rights, claims and causes of action under Title VII, ADEA, ADA and any state or local law or regulation in respect of discrimination of any kind; provided, however, that nothing
herein shall be deemed, nor does anything herein purport, to be a waiver of any right or claim or cause of action which by law the Executive is not permitted to waive. 

5. No Complaints or Other Claims. The Executive acknowledges and agrees that he or she has not, with respect to any transaction or state of facts
existing prior to the date hereof, filed any complaints, charges or lawsuits against any Company Released Party with any governmental agency, court or tribunal. 

6. Conditions of General Release. 
 (a)
Terms and Conditions. From and after the Date of Termination, the Executive shall abide by all the terms and conditions of this General Release and the terms and any conditions set forth in any employment or confidentiality agreements signed by the
Executive, which is incorporated herein by reference. 
 (b) Confidentiality. The Executive shall not, without the prior written consent of
the Company or as may otherwise be required by law or any legal process, or as is necessary in connection with any adversarial proceeding against any member of the Company Affiliated Group (in which case the Executive shall cooperate with the
Company in obtaining a protective order at the Company’s expense against disclosure by a court of competent jurisdiction), communicate, to anyone other than the Company and those designated by the Company or on behalf of the Company in the
furtherance of its business, any trade secrets, confidential information, knowledge or data relating to any member of the Company Affiliated Group, obtained by the Executive during the Executive’s employment by the Company that is not generally
available public knowledge (other than by acts by the Executive in violation of this General Release). 
 (c) Return of Company Material.
The Executive represents that he or she has returned to the Company all Company Material (as defined below). For purposes of this Section 6(c), “Company Material” means any documents, files and other property and information of any
kind belonging or relating to (i) any member of the Company Affiliated Group, (ii) the current and former suppliers, creditors, directors, officers, employees, agents and customers of any of them or (iii) the businesses, products,
services and operations (including without limitation, business, financial and accounting practices) of any of them, in each case whether tangible or intangible (including, without limitation, credit cards, building and office access cards, keys,
computer 

  
 -14- 

 equipment, cellular telephones, pagers, electronic devices, hardware, manuals, files, documents, records,
software, customer data, research, financial data and information, memoranda, surveys, correspondence, statistics and payroll and other employee data, and any copies, compilations, extracts, excerpts, summaries and other notes thereof or relating
thereto), excluding only information (x) that is generally available public knowledge or (y) that relates to the Executive’s compensation or Executive benefits. 

(d) Cooperation. Following the Termination Date, the Executive shall reasonably cooperate with the Company upon reasonable request of the
Board and be reasonably available to the Company with respect to matters arising out of the Executive’s services to the Company Affiliated Group. 

(e) Nondisparagement. The Executive agrees not to communicate negatively about or otherwise disparage any Company Released Party or the
products or businesses of any of them in any way whatsoever. 
 (f) Nonsolicitation. The Executive agrees that for the period of time
beginning on the date hereof and ending on the second anniversary of the Executive’s Date of Termination, the Executive shall not, either directly or indirectly, solicit, entice, persuade, induce or otherwise attempt to influence any person who
is employed by any member of the Company Affiliated Group to terminate such person’s employment by such member of the Company Affiliated Group. The Executive also agrees that for the same period of time he or she shall not assist any person or
entity in the recruitment of any person who is employed by any member of the Company Affiliated Group. The Executive’s provision of a reference to or in respect of any individual shall not be a violation this Section 6(f). 

(g) No Representation. The Executive acknowledges that, other than as set forth in this General Release and the Agreement, (i) no
promises have been made to him or her and (ii) in signing this General Release the Executive is not relying upon any statement or representation made by or on behalf of any Company Released Party and each or any of them concerning the merits of
any claims or the nature, amount, extent or duration of any damages relating to any claims or the amount of any money, benefits, or compensation due the Executive or claimed by the Executive, or concerning the General Release or concerning any other
thing or matter. 
 (h) Injunctive Relief. In the event of a breach or threatened breach by the Executive of this Section 6, the
Executive agrees that the Company shall be entitled to injunctive relief in a court of appropriate jurisdiction to remedy any such breach or threatened breach, the Executive acknowledging that damages would be inadequate or insufficient. 

7. Voluntariness. The Executive agrees that he or she is relying solely upon his or her own judgment; that the Executive is over eighteen years of age
and is legally competent to sign this General Release; that the Executive is signing this General Release of his or her own free will; that the Executive has read and understood the General Release before signing it; and that the Executive is
signing this General Release in exchange for consideration that he or she believes is satisfactory and adequate. 
 8. Legal Counsel. The Executive
acknowledges that he or she has been informed of the right to consult with legal counsel and has been encouraged to do so. 
 9. Complete
Agreement/Severability. This General Release constitutes the complete and final agreement between the parties and supersedes and replaces all prior or contemporaneous 

  
 -15- 

 agreements, negotiations, or discussions relating to the subject matter of this General Release. All provisions
and portions of this General Release are severable. If any provision or portion of this General Release or the application of any provision or portion of the General Release shall be determined to be invalid or unenforceable to any extent or for any
reason, all other provisions and portions of this General Release shall remain in full force and shall continue to be enforceable to the fullest and greatest extent permitted by law. 

10. Acceptance. The Executive acknowledges that he or she has been given a period of twenty-one (21) days within which to consider this General
Release, unless applicable law requires a longer period, in which case the Executive shall be advised of such longer period and such longer period shall apply. The Executive may accept this General Release at any time within this period of time by
signing the General Release and returning it to the Company. 
 11. Revocability. This General Release shall not become effective or enforceable
until seven (7) calendar days after the Executive signs it. The Executive may revoke his or her acceptance of this General Release at any time within that seven (7) calendar day period by sending written notice to the Company. Such notice
must be received by the Company within the seven (7) calendar day period in order to be effective and, if so received, would void this General Release for all purposes. 

13. Governing Law. Except for issues or matters as to which federal law is applicable, this General Release shall be governed by and construed and
enforced in accordance with the laws of the State of Utah without giving effect to the conflicts of law principles thereof. 
 IN WITNESS WHEREOF, the
Executive has executed this General Release as of the date last set forth below. 
 EXECUTIVE 

 

							
	 /s/ R. Bryan Riggsbee
		 		Date:		 December 18, 2014

	Name: R. Bryan Riggsbee						

  
 -16-

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