Document:

Amended and Restated Credit Agreement

 Exhibit 10.1 
 AMENDED AND RESTATED CREDIT AGREEMENT 
 Dated as of September 9, 2011

 among 

HYATT HOTELS CORPORATION, 
 as Borrower, 
 CERTAIN SUBSIDIARIES OF THE BORROWER FROM TIME TO TIME PARTY HERETO,

 as Guarantors, 
 THE LENDERS PARTIES HERETO, 
 WELLS FARGO BANK, NATIONAL ASSOCIATION, 

as Administrative Agent, 
 BANK OF AMERICA, N.A., 
 as Syndication Agent, 

WELLS FARGO SECURITIES, LLC, 
 and 
 MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED, 

as Joint Book Runners, 
 WELLS FARGO SECURITIES, LLC, 
 MERRILL LYNCH, PIERCE, FENNER & SMITH
INCORPORATED, 
 J.P. MORGAN SECURITIES LLC 
 and 
 DEUTSCHE BANK SECURITIES INC., 

as Co-Lead Arrangers, 
 and 
 JPMORGAN CHASE BANK, N.A., 

DEUTSCHE BANK SECURITIES, INC., 
 and 
 SUNTRUST BANK, 

as Co-Documentation Agents 

 TABLE OF CONTENTS 

 

							
	 SECTION 1 DEFINITIONS
	  	 	2	  
	 1.1
	  	Definitions.	  	 	2	  
	 1.2
	  	Computation of Time Periods.	  	 	29	  
	 1.3
	  	Accounting Terms.	  	 	29	  
	 1.4
	  	Exchange Rates; Currency Equivalents.	  	 	29	  
	 1.5
	  	Redenomination of Certain Foreign Currencies and Computation of Dollar Amounts.	  	 	30	  
		
	 SECTION 2 CREDIT FACILITY
	  	 	30	  
	 2.1
	  	Revolving Loans.	  	 	30	  
	 2.2
	  	Competitive Loan Subfacility.	  	 	33	  
	 2.3
	  	Swingline Loan Subfacility.	  	 	35	  
	 2.4
	  	Letter of Credit Subfacility.	  	 	37	  
	 2.5
	  	Additional Loans.	  	 	41	  
	 2.6
	  	Default Rate.	  	 	42	  
	 2.7
	  	Extension and Conversion.	  	 	42	  
	 2.8
	  	Prepayments.	  	 	43	  
	 2.9
	  	Termination and Reduction of Commitments	  	 	44	  
	 2.10
	  	Fees.	  	 	44	  
	 2.11
	  	Computation of Interest and Fees.	  	 	45	  
	 2.12
	  	Pro Rata Treatment and Payments.	  	 	46	  
	 2.13
	  	Non-Receipt of Funds by the Administrative Agent.	  	 	48	  
	 2.14
	  	Inability to Determine Interest Rate.	  	 	49	  
	 2.15
	  	Illegality.	  	 	50	  
	 2.16
	  	Requirements of Law.	  	 	51	  
	 2.17
	  	Indemnity.	  	 	52	  
	 2.18
	  	Taxes.	  	 	53	  
	 2.19
	  	Indemnification; Nature of Issuing Lender’s Duties.	  	 	55	  
	 2.20
	  	Replacement of Lenders.	  	 	57	  
	 2.21
	  	Defaulting Lenders.	  	 	57	  
	 2.22
	  	Funds Transfer Disbursements.	  	 	61	  
	 2.23
	  	Foreign Borrower.	  	 	62	  
		
	 SECTION 3 REPRESENTATIONS AND WARRANTIES
	  	 	63	  
	 3.1
	  	Existing Indebtedness.	  	 	63	  
	 3.2
	  	Financial Statements.	  	 	64	  
	 3.3
	  	No Material Adverse Change.	  	 	64	  
	 3.4
	  	Organization; Existence.	  	 	64	  
	 3.5
	  	Authorization; Power; Enforceable Obligations.	  	 	64	  
	 3.6
	  	Consent; Government Authorizations.	  	 	65	  
	 3.7
	  	No Material Litigation.	  	 	65	  
	 3.8
	  	No Default.	  	 	65	  
	 3.9
	  	Taxes.	  	 	65	  

  
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	 3.10
	  	ERISA.	  	 	65	  
	 3.11
	  	Governmental Regulations, Etc.	  	 	66	  
	 3.12
	  	Subsidiaries.	  	 	67	  
	 3.13
	  	Use of Proceeds.	  	 	67	  
	 3.14
	  	Contractual Obligations; Compliance with Laws; No Conflicts.	  	 	67	  
	 3.15
	  	Accuracy and Completeness of Information.	  	 	68	  
	 3.16
	  	Environmental Matters.	  	 	68	  
	 3.17
	  	Solvency.	  	 	69	  
	 3.18
	  	Title to Property; Leases.	  	 	69	  
	 3.19
	  	Insurance.	  	 	69	  
	 3.20
	  	Licenses and Permits.	  	 	70	  
	 3.21
	  	Anti-Terrorism Laws; OFAC.	  	 	70	  
	 3.22
	  	Labor Matters.	  	 	70	  
		
	 SECTION 4 CONDITIONS
	  	 	70	  
	 4.1
	  	Conditions to Closing.	  	 	70	  
	 4.2
	  	Conditions to All Extensions of Credit.	  	 	73	  
		
	 SECTION 5 AFFIRMATIVE COVENANTS
	  	 	73	  
	 5.1
	  	Financial Statements.	  	 	74	  
	 5.2
	  	Certificates; Other Information.	  	 	75	  
	 5.3
	  	Notices.	  	 	75	  
	 5.4
	  	Maintenance of Existence; Compliance with Laws; Contractual Obligations.	  	 	76	  
	 5.5
	  	Maintenance of Property; Insurance.	  	 	77	  
	 5.6
	  	Inspection of Property; Books and Records; Discussions.	  	 	77	  
	 5.7
	  	Use of Proceeds.	  	 	78	  
	 5.8
	  	Additional Guarantors.	  	 	78	  
	 5.9
	  	Financial Covenants.	  	 	78	  
	 5.10
	  	Electronic Delivery of Certain Information.	  	 	78	  
	 5.11
	  	Public/Private Information.	  	 	79	  
		
	 SECTION 6 NEGATIVE COVENANTS
	  	 	79	  
	 6.1
	  	Liens.	  	 	80	  
	 6.2
	  	Nature of Business.	  	 	80	  
	 6.3
	  	Mergers and Sale of Assets	  	 	80	  
	 6.4
	  	Transactions with Affiliates.	  	 	81	  
	 6.5
	  	Fiscal Year; Organizational Documents.	  	 	81	  
	 6.6
	  	Restricted Payments.	  	 	81	  
		
	 SECTION 7 EVENTS OF DEFAULT
	  	 	82	  
	 7.1
	  	Events of Default.	  	 	82	  
	 7.2
	  	Acceleration; Remedies.	  	 	84	  
		
	 SECTION 8 AGENCY PROVISIONS
	  	 	85	  
	 8.1
	  	Appointment and Authorization.	  	 	85	  
	 8.2
	  	Wells Fargo as Lender.	  	 	86	  
	 8.3
	  	Approvals of Lenders.	  	 	86	  

  
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	 8.4
	  	Notice of Events of Default.	  	 	86	  
	 8.5
	  	Administrative Agent’s Reliance.	  	 	87	  
	 8.6
	  	Indemnification of Administrative Agent.	  	 	88	  
	 8.7
	  	Lender Credit Decision, Etc.	  	 	88	  
	 8.8
	  	Successor Administrative Agent.	  	 	89	  
	 8.9
	  	Titled Agents.	  	 	90	  
	 8.10
	  	Patriot Act Notice.	  	 	90	  
		
	 SECTION 9 GUARANTY
	  	 	91	  
	 9.1
	  	The Guaranty.	  	 	91	  
	 9.2
	  	Bankruptcy.	  	 	91	  
	 9.3
	  	Nature of Liability.	  	 	92	  
	 9.4
	  	Independent Obligation.	  	 	93	  
	 9.5
	  	Authorization.	  	 	93	  
	 9.6
	  	Reliance.	  	 	93	  
	 9.7
	  	Waiver.	  	 	93	  
	 9.8
	  	Limitation on Enforcement.	  	 	94	  
	 9.9
	  	Confirmation of Payment.	  	 	95	  
	 9.10
	  	Guaranty Matters.	  	 	95	  
		
	 SECTION 10 MISCELLANEOUS
	  	 	95	  
	 10.1
	  	Amendments and Waivers.	  	 	95	  
	 10.2
	  	Notices.	  	 	98	  
	 10.3
	  	No Waiver; Cumulative Remedies.	  	 	100	  
	 10.4
	  	Survival of Representations and Warranties.	  	 	100	  
	 10.5
	  	Payment of Expenses and Taxes.	  	 	101	  
	 10.6
	  	Successors and Assigns.	  	 	102	  
	 10.7
	  	Adjustments; Set-off.	  	 	106	  
	 10.8
	  	Table of Contents and Section Headings.	  	 	107	  
	 10.9
	  	Counterparts.	  	 	107	  
	 10.10
	  	Effectiveness.	  	 	107	  
	 10.11
	  	Severability.	  	 	107	  
	 10.12
	  	Integration.	  	 	107	  
	 10.13
	  	GOVERNING LAW.	  	 	108	  
	 10.14
	  	Consent to Jurisdiction and Service of Process.	  	 	108	  
	 10.15
	  	Confidentiality.	  	 	108	  
	 10.16
	  	Acknowledgments.	  	 	109	  
	 10.17
	  	Waivers of Jury Trial.	  	 	110	  
	 10.18
	  	Judgment Currency.	  	 	110	  
	 10.19
	  	Nonliability of Administrative Agent and Lenders.	  	 	110	  
	 10.20
	  	NO NOVATION.	  	 	111	  

  
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 SCHEDULES 

 

			
	Schedule 1.1	 	Form of Account Designation Letter
	Schedule 1.1(a)	 	Mandatory Cost Formulae
	Schedule 1.1(b)	 	Form of Transfer Authorizer Designation Form
	Schedule 1.1(c)	 	Existing Letters of Credit
	Schedule 2.1(a)	 	Lenders and Commitments
	Schedule 2.1(b)(i)	 	Form of Notice of Borrowing
	Schedule 2.1(e)	 	Form of Revolving Note
	Schedule 2.2(b)-1	 	Form of Competitive Bid Request
	Schedule 2.2(b)-2	 	Form of Notice of Receipt of Competitive Bid Request
	Schedule 2.2(c)	 	Form of Competitive Bid
	Schedule 2.2(e)	 	Form of Competitive Bid Accept/Reject Letter
	Schedule 2.3(d)	 	Form of Swingline Note
	Schedule 2.7	 	Form of Notice of Extension/Conversion
	Schedule 2.18	 	2.18 Certificate
	Schedule 3.1	 	Indebtedness
	Schedule 3.12	 	Subsidiaries
	Schedule 3.19	 	Insurance
	Schedule 3.22	 	Labor Matters
	Schedule 4.1(d)	 	Form of Secretary’s Certificate
	Schedule 5.2(a)	 	Form of Officer’s Compliance Certificate
	Schedule 5.8	 	Form of Joinder Agreement
	Schedule 6.1	 	Liens
	Schedule 10.2	 	Notices
	Schedule 10.6	 	Form of Assignment and Assumption

  
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 AMENDED AND RESTATED CREDIT AGREEMENT 

THIS AMENDED AND RESTATED CREDIT AGREEMENT, dated as of September 9, 2011 (the “Credit Agreement”), is by
and among HYATT HOTELS CORPORATION, a Delaware corporation (the “Borrower”), those Material Domestic Subsidiaries of the Borrower identified as “Guarantors” on the signature pages hereto and such other Subsidiaries
of the Borrower as may from time to time become a party hereto (the “Guarantors”), the lenders named herein and such other lenders as may become a party hereto (collectively, the “Lenders” and individually, a
“Lender”), WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent for the Lenders (in such capacity, the “Administrative Agent”), BANK OF AMERICA, N.A., as Syndication Agent for the Lenders
(in such capacity, the “Syndication Agent”), WELLS FARGO SECURITIES, LLC and MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED, as Joint Book Runners, WELLS FARGO SECURITIES, LLC, MERRILL LYNCH,
PIERCE, FENNER & SMITH INCORPORATED, J.P. MORGAN SECURITIES LLC and DEUTSCHE BANK SECURITIES INC., as Co-Lead Arrangers, and JPMORGAN CHASE BANK, N.A., DEUTSCHE BANK SECURITIES, INC. and SUNTRUST BANK,
as Co-Documentation Agents. 
 W I T N E S S E T H 

WHEREAS, certain of the Lenders and other financial institutions have made available to Borrower a $1,130,000,000 revolving credit
facility on the terms and conditions contained in that certain Credit Agreement dated as of June 29, 2005 by and among the Borrower, the guarantors party thereto, the lenders party thereto, Wells Fargo Bank, National Association, successor in
interest to Wachovia Bank, National Association, as administrative agent, The Royal Bank of Scotland, plc, as syndication agent and JPMorgan Chase Bank, N.A., Bank of America, N.A. and BNP Paribas, as co-documentation agents (as amended, restated,
modified or supplemented through the date hereof, the “Existing Facility”); and 
 WHEREAS, the Borrower, the
Administrative Agent, the Lenders and the other parties hereto desire to amend and restate the terms of the Existing Facility to make available to the Borrower a $1,500,000,000 revolving credit facility on the terms and conditions hereinafter set
forth. 
 NOW, THEREFORE, IN CONSIDERATION of the premises and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree that the Existing Facility is amended and restated as follows: 

 SECTION 1  

DEFINITIONS 
  

	 	1.1	Definitions. 

 As used in
this Credit Agreement, the following terms shall have the meanings specified below unless the context otherwise requires: 

“Account Designation Letter” means the Notice of Account Designation Letter dated the Closing Date from the Borrower to
the Administrative Agent in substantially the form attached hereto as Schedule 1.1 designating the Borrower’s account (which account shall be located within the United States or any state or commonwealth thereof or the District of
Columbia). 
 “Additional Loans” has the meaning set forth in Section 2.5. 

“Administrative Agent” has the meaning set forth in the first paragraph hereof, together with any successors or assigns.

 “Administrative Agent’s Office” shall mean, with respect to any currency, the Administrative
Agent’s address and, as appropriate, account (which account shall be located within the United States or any state or commonwealth thereof or the District of Columbia) as set forth on Schedule 10.2 with respect to such currency, or
such other address or account (which account shall be located within the United States or any state or commonwealth thereof or the District of Columbia) with respect to such currency as the Administrative Agent may from time to time notify to the
Borrower and the Lenders. 
 “Administrative Questionnaire” means the Administrative Questionnaire completed by
each Lender and delivered to the Administrative Agent in a form supplied by the Administrative Agent to the Lenders from time to time. 
 “Affiliate” means, with respect to a specified Person, another Person that directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common
Control with the Person specified. In no event shall the Administrative Agent or any Lender be deemed to be an Affiliate of the Borrower. 
 “Aggregate Revolving Committed Amount” means the aggregate Dollar Amount of Commitments in effect from time to time, being initially ONE BILLION FIVE HUNDRED MILLION DOLLARS
($1,500,000,000) (as such amount may be increased as provided in Section 2.5 or reduced as provided in Section 2.9 from time to time). 
 “Alternate Base Rate” means, for any day, the rate per annum (rounded upwards, if necessary, to the nearest whole multiple of 1/100 of 1%) equal to the greatest of (a) the Federal
Funds Rate in effect on such day plus  1/2 of 1%,
(b) the Prime Rate in effect on such day and (c) the LIBOR Rate for one-month deposits in Dollars as of that day (or if such day is not a Business Day, the immediately preceding Business Day) plus 1.00%. If for any reason the

  
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Administrative Agent shall have reasonably determined (which determination shall be conclusive absent manifest error) that it is unable after due inquiry to ascertain the Federal Funds Rate for
any reason, including the inability or failure of the Administrative Agent to obtain sufficient quotations in accordance with the terms hereof, the Alternate Base Rate shall be determined without regard to clause (a) of the first sentence of
this definition until the circumstances giving rise to such inability no longer exist. Any change in the Alternate Base Rate due to a change in the Prime Rate, the Federal Funds Rate or the applicable LIBOR Rate shall be effective on the effective
date of such change in the Prime Rate, the Federal Funds Rate or the applicable LIBOR Rate, respectively. 
 “Alternate
Base Rate Loans” means Loans that bear interest at an interest rate based on the Alternate Base Rate. 

“Anti-Terrorism Laws” has the meaning set forth in Section 3.21. 

“Applicable Lending Office” means, with respect to each Lender, such Lender’s Domestic Lending Office in the case
of an Alternate Base Rate Loan, such Lender’s Foreign Currency LIBOR Lending Office in the case of a LIBOR Rate Loan denominated in a Foreign Currency, and such Lender’s U.S. LIBOR Lending Office in the case of a LIBOR Rate Loan
denominated in Dollars. 
 “Applicable Percentage” means, the rate per annum set forth below opposite the
applicable level then in effect, based upon the Debt Rating as set forth below (such grid immediately below hereinafter referred to as the “Debt Ratings Grid”), it being understood that the Applicable Percentage based upon the Debt
Ratings Grid for (a) Revolving Loans that are Alternate Base Rate Loans shall be the percentage set forth under the column “Alternate Base Rate Margin for Revolving Loans”, (b) Revolving Loans that are LIBOR Rate Loans shall be
the percentage set forth under the column “LIBOR Rate Margin for Revolving Loans and Letter of Credit Fee”, (c) the Letter of Credit Fee shall be the percentage set forth under the column “LIBOR Rate Margin for Revolving Loans
and Letter of Credit Fee” and (d) the Facility Fee shall be the percentage set forth under the column “Facility Fee”: 
 Debt Ratings Grid 
  

															
	 Level
	  	 Debt Ratings

S&P/Moody’s
	  	LIBOR Rate
Margin 
for
Revolving
Loans and
Letter of Credit
Fee	 	 	Alternate
Base Rate
Margin for
Revolving
Loans	 	 	Facility
Fee	 
	I	  	A/A2 or higher	  	 	0.675	% 	 	 	0.000	% 	 	 	0.125	% 
	II	  	A-/A3	  	 	0.850	% 	 	 	0.000	% 	 	 	0.150	% 
	III	  	BBB+/Baa1	  	 	1.075	% 	 	 	0.075	% 	 	 	0.175	% 
	IV	  	BBB/Baa2	  	 	1.175	% 	 	 	0.175	% 	 	 	0.200	% 
	V	  	BBB-/Baa3	  	 	1.375	% 	 	 	0.375	% 	 	 	0.225	% 
	VI	  	Less than	  	 	1.725	% 	 	 	0.725	% 	 	 	0.275	% 

  
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	 Level
	  	 Debt Ratings

S&P/Moody’s
	  	 LIBOR Rate
Margin for

Revolving
 Loans and

Letter of Credit

Fee
	  	 Alternate

Base Rate
 Margin for

Revolving
 Loans
	  	 Facility
Fee

		  	BBB-/Baa3	  		  		  	

 As used in this Credit Agreement, “Debt Rating” means, as of any date of determination,
the rating as determined by either S&P or Moody’s (individually, a “Debt Rating” and collectively, the “Debt Ratings”) of the Borrower’s non-credit-enhanced, senior unsecured long-term debt;
provided in the event of a split-rating, (i) in which the rating differential is one level, the higher of the two Debt Ratings will apply and (ii) in which the rating differential is more than one level, the average of the two Debt
Ratings (or the higher of any two intermediate Debt Ratings) shall apply. 
 Notwithstanding the immediately preceeding
paragraphs, during any period that the Borrower’s Leverage Ratio (x) is less than 2.50 to 1.00 but greater than or equal to 2.00 to 1.00, if the Applicable Percentage would be determined by reference to Level V or VI of the Debt
Ratings Grid, then the Applicable Percentage shall be determined by reference to Level IV of the Debt Ratings Grid, (y) is less than 2.00 to 1.00, if the Applicable Percentage would be determined by reference to Level IV, V or VI of
the Debt Ratings Grid, then the Applicable Percentage shall be determined by reference to Level III of the Debt Ratings Grid, or (z) is greater than 4.50 to 1.00, the Applicable Percentage for Revolving Loans that are LIBOR Rate Loans or
Alternate Base Rate Loans, and the Letter of Credit Fee, determined in accordance with this definition shall be increased by 0.25%. This paragraph shall be subject to Section 2.11(c). 

Notwithstanding anything in this definition of “Applicable Percentage” to the contrary, if, as of any date of determination,
the Borrower does not have a Debt Rating from either S&P or Moody’s then in effect, the Applicable Percentage shall be determined based on (i) Level VI of the Debt Ratings Grid. The Applicable Percentage shall be determined based
upon the Debt Rating then in effect and shall remain at such level until the first day of the month immediately following the date of any publicly announced change in the Debt Rating. As of the Closing Date, and thereafter until changed as provided
above, the Applicable Percentage is determined based on Level IV of the Debt Ratings Grid. 
 “Applicable
Time” means, with respect to any borrowings and payments in Foreign Currencies, the local times in the place of settlement for such Foreign Currencies as may be determined by the Administrative Agent to be necessary for timely settlement on
the relevant date in accordance with normal banking procedures in the place of payment. 
 “Approved Fund”
means any Fund that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a Lender; provided, however, “Approved Fund” shall not
include any competitor of the Borrower or any Subsidiary in the hospitality or lodging industry. 
 “Assignment and
Assumption” means an Assignment and Assumption entered into by a Lender and an Eligible Assignee (with the consent of any party whose consent is required by Section 10.6(b)(iii)), and accepted by the Administrative Agent, substantially
in the form of Schedule 10.6 or any other form approved by the Administrative Agent. 

  
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 “Bankruptcy Code” means the Bankruptcy Code in Title 11 of the United
States Code, as amended, modified, succeeded or replaced from time to time. 
 “Borrower” has the meaning set
forth in the first paragraph hereof, together with any successors or assigns. 
 “Business Day” shall mean a
day other than a Saturday, Sunday or other day on which commercial banks in Charlotte, North Carolina, New York, New York or Chicago, Illinois are authorized or required by law to close; provided, however, that (a) when used in
connection with a rate determination, borrowing or payment in respect of a LIBOR Rate Loan, the term “Business Day” shall also exclude any day on which banks in London, England are not open for dealings in deposits of Dollars or Foreign
Currencies, as applicable, in the London interbank market and (b) for purposes of Extensions of Credit or Letters of Credit denominated in a Foreign Currency, the term “Business Day” shall also exclude any day on which banks are not
open for foreign exchange dealings between banks in the exchange of the home country of such Foreign Currency. 

“Capital Lease” means, as applied to any Person, any lease of any Property (whether real, personal or mixed) by that
Person as lessee which, in accordance with GAAP, is or should be accounted for as a capital lease on the balance sheet of that Person. 
 “Capital Stock” means (a) in the case of a corporation, capital stock, (b) in the case of an association or business entity, any and all shares, interests, participations,
rights or other equivalents (however designated) of capital stock, (c) in the case of a partnership, partnership interests (whether general or limited), (d) in the case of a limited liability company, membership interests and (e) any
other interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distribution of assets of, the issuing Person (excluding hypothetical shares of stock of the Borrower issued to employees as part
of a “phantom stock” compensation plan). 
 “Cash Collateralize” means, to pledge and deposit with or
deliver to the Administrative Agent, for the benefit of the Issuing Lenders or the Lenders, as collateral for LOC Obligations or obligations of Lenders to fund participations in respect of LOC Obligations, cash or deposit account balances or, if the
Administrative Agent and the Issuing Lenders shall agree in their sole discretion, other credit support, in each case pursuant to documentation in form and substance reasonably satisfactory to the Administrative Agent and the Issuing Lenders.
“Cash Collateral” shall have a meaning correlative to the foregoing and shall include the proceeds of such cash collateral and other credit support. 
 “Change in Law” means the occurrence, after the date of this Agreement, of any of the following: (a) the adoption or taking effect of any law, rule, regulation or treaty,
(b) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or application thereof by any Governmental Authority or (c) the making or issuance of any request, rule, guideline or directive
(whether or not having the force of law) by any Governmental Authority; provided that notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or
directives 

  
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thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking
Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a “Change in Law”, regardless of the date enacted, adopted
or issued. 
 “Change of Control” means (a) any Person or two or more Persons acting in concert (other
than (A) any Pritzker Affiliate, (B) Madrone GHC, LLC or its Affiliates and (C) Affiliates of The Goldman Sachs Group, Inc.) shall have acquired “beneficial ownership,” directly or indirectly, of, or shall have acquired by
contract or otherwise, Voting Stock of the Borrower (or other securities convertible into such Voting Stock) representing 35% or more of the combined voting power of all Voting Stock of the Borrower, or (b) Continuing Directors shall cease for
any reason to constitute a majority of the members of the board of directors of the Borrower then in office. As used herein, “beneficial ownership” shall have the meaning provided in Rule 13d-3 of the Securities and Exchange
Commission under the Securities Act of 1934. 
 “Closing Date” means the date hereof. 

“Code” means the Internal Revenue Code of 1986, as amended, and any successor statute thereto, as interpreted by the
regulations promulgated thereunder. References to sections of the Code shall be construed also to refer to any successor sections. 
 “Commitment” means the Revolving Commitment, the LOC Commitment and the Swingline Commitment, individually or collectively, as appropriate. 

“Commitment Percentage” means, for each Lender, a fraction (expressed as a decimal) the numerator of which is the
Commitment of such Lender at such time and the denominator of which is the Aggregate Revolving Committed Amount at such time. The initial Commitment Percentages are set out on Schedule 2.1(a). 

“Commitment Period” means the period from and including the Closing Date to but not including the earlier of
(a) the Maturity Date, or (b) the date on which the Commitments terminate in accordance with the provisions of this Credit Agreement. 
 “Competitive Bid” means an offer by a Lender to make a Competitive Loan pursuant to the terms of Section 2.2. 

“Competitive Bid Rate” means, as to any Competitive Bid made by a Lender in accordance with the provisions of
Section 2.2, the fixed rate of interest offered by the Lender making the Competitive Bid. 
 “Competitive Bid
Request” means a request by the Borrower for Competitive Bids in accordance with the provisions of Section 2.2(b). 
 “Competitive Loan” means a loan made by a Lender in its discretion pursuant to the provisions of Section 2.2. 

  
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 “Competitive Loan Lenders” means, at any time, those Lenders which have
Competitive Loans outstanding. 
 “Consolidated Adjusted Funded Debt” means, as of any date of determination,
without duplication, (a) the aggregate principal amount of all Funded Debt of the Borrower and its Subsidiaries on a consolidated basis minus (b) the lesser of (i) $100,000,000 and (ii) the aggregate outstanding principal
amount of all Guaranty Obligations of the Borrower or any of its Subsidiaries of Funded Debt of all other Persons. 

“Consolidated Assets” means, at any time, the amount representing the assets of the Borrower and the Subsidiaries that
would appear on a consolidated balance sheet of the Borrower and its Subsidiaries at such time prepared in accordance with GAAP. 
 “Consolidated EBITDA” means, for any period, (a) Consolidated Net Income for such period (excluding from the determination of Consolidated Net Income any income or losses
attributable to unconsolidated joint ventures of the Borrower and its Subsidiaries) plus cash distributions received by the Borrower and its Subsidiaries from unconsolidated joint ventures after required debt service related thereto and excluding
any proceeds from financings, refinancings or sales related thereto plus (b) the sum of the following to the extent deducted in calculating Consolidated Net Income: (i) Consolidated Interest Expense for such period, (ii) the
provision for Federal, state, local, foreign income, value added and similar taxes payable by the Borrower and its Subsidiaries for such period, (iii) depreciation and amortization expense for such period, and (iv) other non-recurring
non-cash charges for such period (including (A) losses on discontinued operations and (B) non-cash charges due to foreign currency losses) minus (c) non-cash income and gains due to foreign currency gains to the extent included
in Consolidated Net Income; provided that “Consolidated EBITDA” for any period shall be adjusted on a pro forma basis (i) to include (or exclude) amounts attributable to operations acquired (or sold or otherwise discontinued)
during such period as if such acquisition (or disposition) had occurred on the first day of such period and (ii) to include amounts (annualized on a simple arithmetic basis) attributable to projects which commenced operations during such period
and were in operation for at least one full fiscal quarter during such period. 
 “Consolidated Interest
Expense” means, for any period, all interest expense with respect to Funded Debt for such period of the Borrower and its Subsidiaries on a consolidated basis including the interest component under Capital Leases and capitalized interest.

 “Consolidated Net Income” means, for any period, net income (excluding extraordinary items) after taxes of
the Borrower and its Subsidiaries on a consolidated basis, as determined in accordance with GAAP attributable to the Borrower. 

“Consolidated Net Tangible Assets” means, at any time, the amount representing the assets of the Borrower and the
Subsidiaries that would appear on a consolidated balance sheet of the Borrower and its Subsidiaries at such time prepared in accordance with GAAP, less (a) all current liabilities and non-controlling interests and (b) goodwill and other
intangibles. 

  
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 “Continuing Directors” means, during any period of up to 24 consecutive
months, individuals who at the beginning of such 24 month period were directors of the Borrower (together with any new director whose election by the Borrower’s board of directors or whose nomination for election by the Borrower’s
shareholders was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of such period or whose election or nomination for election was previously so approved). 

“Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management
or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto. 

“Credit Documents” means a collective reference to this Credit Agreement, the Notes, the LOC Documents, any Joinder
Agreement and all other related agreements and documents issued or delivered hereunder or thereunder or pursuant hereto or thereto (excluding, however, any Hedging Agreement and the Fee Letter). 

“Credit Party” means any of the Borrower or the Guarantors. 

“Credit Party Obligations” means, without duplication, (a) all of the obligations of the Credit Parties to the
Lenders (including the Issuing Lender) and the Administrative Agent, whenever arising, under this Credit Agreement or any of the other Credit Documents or the Fee Letter (including, but not limited to, any interest accruing after the occurrence of a
filing of a petition of bankruptcy under the Bankruptcy Code with respect to any Credit Party, regardless of whether such interest is an allowed claim under the Bankruptcy Code) and (b) all liabilities and obligations, whenever arising, owing
from any Credit Party or any of its Subsidiaries to any Hedging Agreement Provider arising under any Hedging Agreement permitted hereunder. 
 “Debt Rating” has the meaning set forth in the definition of “Applicable Percentage.” 
 “Debtor Relief Laws” means the Bankruptcy Code, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership,
insolvency, reorganization, or similar applicable laws relating to the relief of debtors in the United States of America or other applicable jurisdictions from time to time in effect. 

“Default” means any event, act or condition which with notice or lapse of time, or both, would constitute an Event of
Default. 
 “Defaulting Lender” means, subject to Section 2.21(f), any Lender that (a) has failed to
(i) fund all or any portion of its Loans within 2 Business Days of the date such Loans were required to be funded hereunder unless such Lender notifies the Administrative Agent and the Borrower in writing that such failure is the result of such
Lender’s reasonable and good faith determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been
satisfied, or (ii) pay to the Administrative Agent, an Issuing Lender, the Swingline 

  
 - 8 -

 
Lender or any other Lender any other amount required to be paid by it hereunder (including in respect of its participation in Letters of Credit or Swingline Loans) within 2 Business Days of the
date when due, (b) has notified the Borrower, the Administrative Agent, an Issuing Lender or the Swingline Lender in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement to that effect
(unless such writing or public statement relates to such Lender’s obligation to fund a Loan hereunder and states that such position is based on such Lender’s reasonable and good faith determination that a condition precedent to funding
(which condition precedent, together with any applicable default, shall be specifically identified in such writing or public statement) cannot be satisfied), (c) has failed, within 3 Business Days after written request by the Administrative
Agent or the Borrower, to confirm in writing to the Administrative Agent and the Borrower that it will comply with its prospective funding obligations hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant to this
clause (c) upon receipt of such written confirmation by the Administrative Agent and the Borrower), or (d) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any Debtor Relief Law,
or (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit
Insurance Corporation or any other state or federal regulatory authority acting in such a capacity; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any Capital Stock in that Lender or any
direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States of America or from the
enforcement of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender. Any determination by the
Administrative Agent that a Lender is a Defaulting Lender under clauses (a) through (d) above shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to
Section 2.21(f)) upon delivery of written notice of such determination to the Borrower, the Issuing Lenders, the Swingline Lender and each Lender. 
 “Discretionary Issuing Lender” has the meaning set forth in Section 2.4(j). 
 “Dollar Amount” shall mean, at any time, (a) with respect to Dollars or an amount denominated in Dollars, such amount and (b) with respect to an amount of any Foreign Currency
or an amount denominated in such Foreign Currency, the equivalent amount thereof in Dollars as determined by the Administrative Agent at such time on the basis of the Spot Rate (determined in respect of the most recent Revaluation Date) for the
purchase of Dollars with such Foreign Currency. 
 “Dollars” and “$” means dollars in lawful
currency of the United States of America. 
 “Domestic Issuing Lender” has the meaning set forth in
Section 2.4(j). 
 “Domestic Lending Office” shall mean, initially, the office of each Lender designated
as such Lender’s Domestic Lending Office as set forth in the Administrative Questionnaire delivered by each Lender to the Administrative Agent; and thereafter, such other office of such 

  
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Lender as such Lender may from time to time specify to the Administrative Agent and the Borrower as the office of such Lender at which Alternate Base Rate Loans of such Lender are to be made.

 “Domestic Letters of Credit” means any Letters of Credit issued by a Domestic Issuing Lender to a
beneficiary located in the United States, any state or commonwealth thereof, any possession or territory thereof or the District of Columbia. 
 “Domestic Subsidiary” means any Subsidiary that is organized and existing under the laws of the United States or any state or commonwealth thereof or under the laws of the District of
Columbia. 
 “Eligible Assignee” means (a) a Lender, (b) an Affiliate of a Lender, (c) an
Approved Fund, and (d) any other Person (other than a natural person) approved by (i) the Administrative Agent, (ii) in the case of an assignment of a Revolving Commitment, each Issuing Lender and the Swingline Lender, and
(iii) unless a Default or Event of Default shall exist, the Borrower (each such approval not to be unreasonably withheld or delayed); provided that notwithstanding the foregoing, (x) “Eligible Assignee” shall not include the
Borrower, any of the Borrower’s Affiliates (other than an Affiliate of The Goldman Sachs Group, Inc. that is a Lender as of the Closing Date) or Subsidiaries, any competitor of the Borrower or any Subsidiary in the hospitality or lodging
industry, or any Defaulting Lender and (y) in the case of clause (iii) above, the Borrower shall be deemed to have approved of such Person unless it shall object thereto by written notice to the Administrative Agent within 5 Business Days
after having received notice thereof. 
 “EMU” shall mean Economic and Monetary Union as contemplated in the
Treaty on European Union. 
 “EMU Legislation” shall mean legislative measures of the European Council
(including without limitation European Council regulations) for the introduction of, changeover to or operation of a single or unified European currency (whether known as the Euro or otherwise), being in part the implementation of the third stage of
EMU. 
 “Environmental Laws” means any and all applicable foreign, federal, state, local or municipal laws,
rules, orders, regulations, statutes, ordinances, codes, decrees, requirements or any Governmental Authority or other Requirement of Law (including common law) regulating, relating to or imposing liability or standards of conduct concerning
protection of human health or the environment, as now or may at any time be in effect during the term of this Credit Agreement. 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time. 

“ERISA Affiliate” means an entity which is under common control with any Credit Party within the meaning of
Section 4001(a)(14) of ERISA, or is a member of a group which includes 

  
 - 10 -

 
any Credit Party and which is treated as a single employer under Sections 414(b) or (c) of the Code. 
 “Euro” shall mean the single currency of Participating Member States of the European Union to the extent adopted by its member nations. 

“Euro Unit” shall mean the currency unit of the Euro. 

“Eurodollar Reserve Percentage” means for any day, the percentage (expressed as a decimal and rounded upwards, if
necessary, to the next higher 1/100th of 1%) which is in effect for such day as prescribed by the Federal Reserve Board (or any successor) for determining the maximum reserve requirement (including without limitation any basic, supplemental or
emergency reserves) in respect of Eurocurrency liabilities, as defined in Regulation D of such Board as in effect from time to time, or any similar category of liabilities for a member bank of the Federal Reserve System in New York City.

 “Event of Default” means such term as defined in Section 7.1. 

“Excluded Subsidiaries” means a collective reference to (i) the Specified Entities, (ii) each of Hyatt
International, AIC Holding Co., Hyatt International (Milan) Co., Hyatt International (Osaka) Corporation, Hyatt LACSA Services, Inc., Hyatt International Holdings Co., RUBA Beachfront Resorts Limited Parthership, HTS-CHC (Sedona), LLC and any other
Material Domestic Subsidiary whether newly formed, after acquired or otherwise existing, in each case to the extent and for so long as the Borrower determines in good faith that it is reasonably likely to suffer adverse tax consequences by reason of
each of such entities’ guaranty of the Credit Party Obligations hereunder and (iii) any other Subsidiary (other than any Wholly-Owned Subsidiary) of the Borrower that is prohibited by operation of law, contract or its organizational
documents from guaranteeing the Credit Party Obligations. 
 “Existing Facility” has the meaning given that
term in the first “WHEREAS” clause of this Agreement. 
 “Existing Letters of Credit” means the
letters of credit issued and outstanding under the Existing Facility and set forth on Schedule 1.1(c). 

“Extension of Credit” means, as to any Lender, without duplication, the making of a Loan by such Lender or the issuance
of, or participation in, a Letter of Credit by such Lender or the issuance of, or participation in, a Swingline Loan by such Lender. 
 “Facility Fee” has the meaning set forth in Section 2.10(a). 

“Federal Funds Rate” means, for any day, the rate of interest per annum (rounded upwards, if necessary, to the nearest
whole multiple of 1/100 of 1%) equal to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System of the United States arranged by Federal funds brokers on such day, as published by the
Federal Reserve Bank of New York on the Business Day next succeeding such 

  
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day, provided that (a) if such day is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day and
(b) if no such rate is so published on such next preceding Business Day, the Federal Funds Rate for such day shall be the average rate quoted to the Administrative Agent on such day on such transactions as reasonably determined by the
Administrative Agent. 
 “Fee Letter” means that certain letter agreement, dated as of July 28, 2011,
among Wells Fargo, Wells Fargo Securities, LLC and the Borrower, as amended, modified, supplemented or replaced from time to time. 
 “Fees” means all fees payable pursuant to Section 2.10. 

“Foreign Currency” means (a) Euros, (b) Japanese Yen and (c) Pounds Sterling. 

“Foreign Currency Equivalent” shall mean, with respect to any amount denominated in Dollars, the equivalent amount
thereof in the applicable Foreign Currency as determined by the Administrative Agent at such time on the basis of the Spot Rate (determined in respect of the most recent Revaluation Date) for the purchase of such Foreign Currency with Dollars.

 “Foreign Currency LIBOR Lending Office” shall mean, initially, the offices of each applicable lender
designated as such Lender’s Foreign Currency LIBOR Lending Office as set forth in the Administrative Questionnaire delivered by each Lender to the Administrative Agent; and thereafter, such other office of such Lender as such Lender may from
time to time specify to the Administrative Agent and the Borrower as the office of such Lender at which the LIBOR Rate Loans of such Lender denominated in Foreign Currencies are to be made. 

“Foreign Currency Loan” shall mean any Loan denominated in a Foreign Currency. 

“Foreign Currency Sublimit” means TWO HUNDRED FIFTY MILLION DOLLARS ($250,000,000). 

“Foreign Lender” has the meaning set forth in Section 2.18(b). 

“Foreign Letters of Credit” means any Letter of Credit that is not a Domestic Letter of Credit. 

“Foreign Subsidiary” shall mean any Subsidiary that is not a Domestic Subsidiary. 

“Fronting Exposure” means, at any time there is a Defaulting Lender, (a) with respect to an Issuing Lender, such
Defaulting Lender’s Commitment Percentage of the outstanding LOC Obligations other than LOC Obligations as to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders or Cash Collateralized in
accordance with the terms hereof, and (b) with respect to the Swingline Lender, such Defaulting Lender’s Commitment Percentage of outstanding Swingline Loans other than Swingline Loans as to which such Defaulting Lender’s
participation obligation has been reallocated to other Lenders. 

  
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 “Fund” means any Person (other than a natural person) that is (or will be)
engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its business. 
 “Funded Debt” shall mean, with respect to any Person, without duplication, (a) all obligations of such Person for borrowed money, (b) all obligations of such Person evidenced by
bonds, debentures, notes or similar instruments, or upon which interest payments are customarily made, (c) all obligations of such Person under conditional sale or other title retention agreements relating to Property purchased by such Person
(other than customary reservations or retentions of title under agreements with suppliers entered into in the ordinary course of business), (d) all obligations of such Person issued or assumed as the deferred purchase price of Property or
services purchased by such Person (other than accounts payable and other trade debt incurred in the ordinary course of business and not overdue by more than 60 days or subject to a bona fide dispute) which would appear as liabilities on a balance
sheet of such Person, (e) all Guaranty Obligations of such Person with respect to Indebtedness of another Person, (f) the principal portion of all obligations of such Person under Capital Leases, (g) the maximum amount of all standby
letters of credit issued or bankers’ acceptances facilities created for the account of such Person and, without duplication, all drafts drawn thereunder (to the extent unreimbursed), (h) all preferred Capital Stock issued by such Person
and which by the terms thereof could be (at the request of the holders thereof or otherwise) subject to mandatory sinking fund payments, redemption or other acceleration prior to the date that is six months after the Maturity Date, (i) the
principal balance outstanding under any synthetic lease, tax retention operating lease, off-balance sheet loan or similar off-balance sheet financing product and (j) the Indebtedness of any partnership or unincorporated joint venture in which
such Person is a general partner or a joint venturer, but only to the extent to which there is recourse to such Person for payment of such Indebtedness. For purposes of the calculation of Funded Debt of the Borrower and its Subsidiaries on a
consolidated basis, “Funded Debt” shall not include Funded Debt owing among the Borrower and its Subsidiaries to the extent such Funded Debt amounts to zero on a consolidated basis as a result of the consolidation of the financial
statements of the Borrower and its Subsidiaries. 
 “GAAP” means generally accepted accounting principles in
the United States applied on a consistent basis and subject to the terms of Section 1.3 hereof. 
 “Government
Acts” has the meaning set forth in Section 2.19(a). 
 “Governmental Authority” means any nation
or government, any state or other political subdivision thereof and any entity exercising executive, legislative, judicial, regulatory or administrative functions of government. 

“Guarantors” means (a) any of the Subsidiaries identified as a “Guarantor” on the signature pages hereto
and (b) any Person which executes a Joinder Agreement, together with their successors and permitted assigns. In no event shall any Excluded Subsidiary be a “Guarantor” hereunder. 

“Guaranty” means the guaranty of the Guarantors set forth in Section 9. 

  
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 “Guaranty Obligations” means, with respect to any Person, without
duplication, any obligations of such Person (other than endorsements in the ordinary course of business of negotiable instruments for deposit or collection) guaranteeing or by its terms intended to guarantee any Indebtedness of any other Person in
any manner, whether direct or indirect, and including without limitation any obligation, whether or not contingent, (a) to purchase any such Indebtedness or any property constituting security therefor, (b) to advance or provide funds or
other support for the payment or purchase of any such Indebtedness or to maintain working capital, solvency or other balance sheet condition of such other Person (including without limitation keep well agreements, maintenance agreements, comfort
letters or similar agreements or arrangements) for the benefit of any holder of Indebtedness of such other Person, (c) to lease or purchase Property, securities or services primarily for the purpose of assuring the holder of such Indebtedness,
or (d) to otherwise assure or hold harmless the holder of such Indebtedness against loss (excluding ordinary course indemnification obligations) in respect thereof. 
 “Hedging Agreement Provider” means any Person that enters into a Hedging Agreement with a Credit Party or any of its Subsidiaries that is permitted hereunder to the extent such Person is
a (a) Lender, (b) an Affiliate of a Lender or (c) any other Person that was a Lender (or an Affiliate of a Lender) at the time it entered into the Hedging Agreement but has ceased to be a Lender (or whose Affiliate has ceased to be a
Lender) under the Credit Agreement. 
 “Hedging Agreements” means, with respect to any Person, any agreement
entered into to protect such Person against fluctuations in interest rates, or currency or raw materials values, including, without limitation, any interest rate swap, cap or collar agreement or similar arrangement between such Person and one or
more counterparties, any foreign currency exchange agreement, currency protection agreements, commodity purchase or option agreements or other interest or exchange rate or commodity price hedging agreements. 

“Hyatt International” means Hyatt International Corporation, a Delaware corporation and an indirect wholly-owned
subsidiary of the Borrower. 
 “Indebtedness” shall mean, with respect to any Person, without duplication,
(a) all obligations of such Person for borrowed money, (b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, or upon which interest payments are customarily made, (c) all obligations of such
Person under conditional sale or other title retention agreements relating to Property purchased by such Person (other than customary reservations or retentions of title under agreements with suppliers entered into in the ordinary course of
business), (d) all obligations of such Person issued or assumed as the deferred purchase price of Property or services purchased by such Person (other than accounts payable and other trade debt incurred in the ordinary course of business and
not overdue by more than 60 days or subject to a bonafide dispute) which would appear as liabilities on a balance sheet of such Person, (e) all obligations of such Person under take-or-pay or similar arrangements or under commodities
agreements, (f) all Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on, or payable out of the proceeds of production from, Property owned
or acquired by such Person, whether or not the obligations secured thereby have been assumed, (g) all Guaranty Obligations of such Person with respect to Indebtedness of another Person, (h) the principal portion of all obligations of such
Person under Capital Leases, (i) all net 

  
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obligations of such Person under Hedging Agreements, (j) the maximum amount of all standby letters of credit issued or bankers’ acceptances facilities created for the account of such
Person and, without duplication, all drafts drawn thereunder (to the extent unreimbursed), (k) all preferred Capital Stock issued by such Person and which by the terms thereof could be (at the request of the holders thereof or otherwise)
subject to mandatory sinking fund payments, redemption or other acceleration prior to the date that is six months after the Maturity Date, (l) the principal balance outstanding under any synthetic lease, tax retention operating lease,
off-balance sheet loan or similar off-balance sheet financing product, and (m) the Indebtedness of any partnership or unincorporated joint venture in which such Person is a general partner or a joint venturer, but only to the extent to which
there is recourse to such Person for payment of such Indebtedness. 
 “Insolvency” means, with respect to any
Multiemployer Plan, the condition that such Plan is insolvent within the meaning of such term as used in Section 4245 of ERISA. 
 “Interest Payment Date” means (a) as to any Alternate Base Rate Loan, the last day of each March, June, September and December and on the Maturity Date, (b) as to any Swingline
Loan, the Swingline Maturity Date, the last day of each March, June, September and December and on the Maturity Date, (c) as to any LIBOR Rate Loan or Competitive Loan having an Interest Period of three months or less, the last day of such
Interest Period, and (d) as to any LIBOR Rate Loan or Competitive Loan having an Interest Period longer than three months, each day which is three months after the first day of such Interest Period and the last day of such Interest Period.

 “Interest Period” means, (a) as to any LIBOR Rate Loan, a period of one, two, three or six months’
duration, as the Borrower may elect, commencing in each case, on the date of the borrowing (including conversions, extensions and renewals); provided, however, (i) if any Interest Period would end on a day which is not a Business
Day, such Interest Period shall be extended to the next succeeding Business Day (except that in the case of LIBOR Rate Loans where the next succeeding Business Day falls in the next succeeding calendar month, then on the next preceding Business
Day), (ii) no Interest Period commencing prior to the Maturity Date shall extend beyond the Maturity Date, and (iii) in the case of LIBOR Rate Loans, where an Interest Period begins on a day for which there is no numerically corresponding
day in the calendar month in which the Interest Period is to end, such Interest Period shall end on the last Business Day of such calendar month and (b) with respect to any Competitive Loan, a period of not less than seven (7) nor more
than 180 days’ duration, as the Borrower may request and a Lender may agree in accordance with the provisions of Section 2.2; provided, however, (i) if any Interest Period pertaining to a LIBOR Rate Loan would
otherwise end on a day that is not a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless the result of such extension would be to carry such Interest Period into another calendar month in which event such
Interest Period shall end on the immediately preceding Business Day, (ii) any Interest Period pertaining to a LIBOR Rate Loan that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding
day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the relevant calendar month, (iii) if the Borrower shall fail to give notice as provided above, the Borrower shall be deemed to have selected a
LIBOR Rate Loan of one month’s duration to replace the affected LIBOR Rate Loan unless a Default or an Event of Default then exists and is continuing, 

  
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in which case the Borrower shall be deemed to have requested an Alternate Base Rate Loan to replace the affected LIBOR Rate Loan, (iv) any Interest Period in respect of any Loan that would
otherwise extend beyond the Maturity Date shall end on the Maturity Date, (v) no more than ten (10) LIBOR Rate Loans may be in effect at any time (excluding any LIBOR Rate Loans that are Competitive Loans) and (vi) no more than
ten (10) LIBOR Rate Loans that are Competitive Loans may be in effect at any time. For purposes hereof, LIBOR Rate Loans with different Interest Periods shall be considered as separate LIBOR Rate Loans, even if they shall begin on the same date
and have the same duration, although borrowings, extensions and conversions may, in accordance with the provisions hereof, be combined at the end of existing Interest Periods to constitute a new LIBOR Rate Loan with a single Interest Period.

 “Issuing Lender” means (a) with respect to Domestic Letters of Credit, any Domestic Issuing Lender and
(b) with respect to Foreign Letters of Credit, any Discretionary Issuing Lender. 
 “Issuing Lender Fees”
has the meaning set forth in Section 2.10(c). 
 “Japanese Yen” or “JPY” shall mean
Japanese yen, the lawful currency of Japan. 
 “Joinder Agreement” means a Joinder Agreement in substantially
the form of Schedule 5.8, executed and delivered by each Person required to become a Guarantor in accordance with the provisions of Section 5.8. 
 “Lead Arrangers” means each of Wells Fargo Securities, LLC, J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, and Deutsche Bank Securities Inc.

 “Lenders” means each of the Persons identified as a “Lender” on the signature pages hereto, each
Person that becomes a “Lender” in connection with an increase of the Aggregate Revolving Committed Amount pursuant to Section 2.5, and their respective successors and assigns. 

“Letter of Credit Fee” has the meaning set forth in Section 2.10(b). 

“Letters of Credit” means any letter of credit issued hereunder by an Issuing Lender pursuant to the terms hereof, as
such Letters of Credit may be amended, restated, modified, extended, renewed or replaced from time to time. 
 “Leverage
Ratio” means, as of any date of determination, with respect to the Borrower and its Subsidiaries on a consolidated basis, the ratio of (a) Consolidated Adjusted Funded Debt as of the last day of the twelve month period ending on the
last day of any fiscal quarter to (b) Consolidated EBITDA for the last day of the twelve month period ending on the last day of any fiscal quarter. 
 “LIBOR” means, for any LIBOR Rate Loan for any Interest Period therefor, either (a) the rate of interest per annum determined by the Administrative Agent (rounded upward to the
nearest 1/100 of 1%) appearing on, in the case of Dollars, the Reuters Screen LIBOR01 Page (or 

  
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any successor page) and, in the case of a Foreign Currency, the British Bankers Association Interest Settlement Rates for deposits in such Foreign Currency (or, in each case, (i) such other
page or service as may replace such page on such system or service for the purpose of displaying such rates and (ii) if more than one rate appears on such screen, the arithmetic mean for all such rates rounded upward to the nearest 1/100 of 1%)
as the London interbank offered rate for deposits in the applicable currency at approximately 11:00 A.M. (London time), on the second full Business Day preceding the first day of such Interest Period, and in an amount approximately equal to the
amount of the LIBOR Rate Loan and for a period approximately equal to such Interest Period or (b) if such rate is for any reason not available, the rate per annum equal to the rate at which the Administrative Agent or its designee is offered
deposits in such currency at or about 11:00 A.M. (London time), two Business Days prior to the beginning of such Interest Period in the interbank eurodollar market where the eurodollar and foreign currency and exchange operations in respect of
its LIBOR Rate Loans are then being conducted for settlement in immediately available funds, for delivery on the first day of such Interest Period for the number of days comprised therein, and in an amount comparable to the amount of the LIBOR Rate
Loan to be outstanding during such Interest Period. 
 “LIBOR Rate” means a rate per annum (rounded upwards, if
necessary, to the next higher 1/100th of 1%) determined by the Administrative Agent pursuant to the following formula: 
  

							
	LIBOR Rate =	 		 	 LIBOR
	  	
		 		 	1.00 - Eurodollar Reserve Percentage	  	

 “LIBOR Rate Loan” means any Loan bearing interest at a rate determined by reference to
the LIBOR Rate. 
 “Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement, security
interest, encumbrance, lien (statutory or otherwise), preference, priority or charge of any kind (including any conditional sale or other title retention agreement, any financing or similar statement or notice filed under the Uniform Commercial Code
as adopted and in effect in the relevant jurisdiction or other similar recording or notice statute, and any lease in the nature thereof). 
 “Loan” or “Loans” means a Revolving Loan, a Swingline Loan and/or Competitive Loans, as appropriate. 

“LOC Commitment” means the commitment of an Issuing Lender to issue Letters of Credit and with respect to each Lender,
the commitment of such Lender to purchase participation interests in the Letters of Credit up to such Lender’s LOC Committed Amount as specified in Schedule 2.1(a), as such amount may be reduced from time to time in accordance with
the provisions hereof. 
 “LOC Commitment Percentage” means, for each Lender, the percentage identified as its
LOC Commitment Percentage on Schedule 2.1(a), as such percentage may be modified in connection with any assignment made in accordance with the provisions of Section 10.6(c). 

  
 - 17 -

 “LOC Committed Amount” means, collectively, the aggregate amount of all of
the LOC Commitments of the Lenders to issue and participate in Letters of Credit as referenced in Section 2.4 and, individually, the amount of each Lender’s LOC Commitment as specified in Schedule 2.1(a). 

“LOC Documents” means, with respect to any Letter of Credit, such Letter of Credit, any amendments thereto, any
documents delivered in connection therewith, any application therefor, and any agreements, instruments, guarantees or other documents (whether general in application or applicable only to such Letter of Credit) governing or providing for
(a) the rights and obligations of the parties concerned or (b) any collateral security for such obligations, in each case relating to such Letter of Credit. 
 “LOC Obligations” means, at any time, the sum of (a) the maximum amount which is, or at any time thereafter may become, available to be drawn under Letters of Credit then
outstanding, assuming compliance with all requirements for drawings referred to in such Letters of Credit plus (b) without duplication the aggregate amount of all drawings under Letters of Credit honored by the Issuing Lender but not
theretofore reimbursed. 
 “Mandatory Borrowing” with respect to (a) Swingline Loans, has the meaning set
forth in Section 2.3(b)(ii) and (b) with respect to Letters of Credit, has the meaning set forth in Section 2.4(e). 
 “Mandatory Cost” means the percentage rate per annum calculated by the Administrative Agent in accordance with Schedule 1.1(a). 

“Material” means material in relation to the business, operations, financial condition or properties of the Borrower and
its Subsidiaries taken as a whole. 
 “Material Adverse Effect” means (a) a material adverse change in, or
a material adverse effect upon, the operations, business, properties or financial condition of the Borrower or the Borrower and its Subsidiaries taken as a whole; (b) an impairment of the ability of (i) the Borrower to perform its material
obligations under any Credit Document or the Fee Letter, in each case to which it is a party or (ii) of the Borrower and the Credit Parties taken as a whole to perform their material obligations under any Credit Document or the Fee Letter, in
each case to which they are a party; or (c) a material adverse effect upon the legality, validity, binding effect or enforceability against (i) the Borrower of any Credit Document or the Fee Letter, in each case to which it is a party or
(ii) of the Borrower and the Credit Parties taken as a whole of any Credit Document or the Fee Letter, in each case to which they are a party; other than any change, effect or circumstance to the extent resulting from (I) changes in
general economic, financial market or geopolitical conditions, (II) any outbreak or escalation of hostilities or war or any act of terrorism, or (III) any failure by the Borrower and its Subsidiaries to meet any published analyst estimates
or expectations of their revenue, earnings or other financial performance or results of operations for any period, in and of itself, or any failure by Borrower and its Subsidiaries to meet its internal or published projections, budgets, plans or
forecasts of its revenues, earnings or other financial performance or results of operations, in and of itself (it being understood that the facts or occurrences giving rise or contributing to such failure that are not otherwise excluded from the

  
 - 18 -

 
definition of a “Material Adverse Effect” may be taken into account in determining whether there has been a Material Adverse Effect); provided that, in the case of the immediately
preceding clauses (I) and (II), such changes, effects or circumstances do not affect the Borrower or its Subsidiaries disproportionately relative to other companies operating in the same industry. 

“Material Domestic Subsidiary” means any Domestic Subsidiary that is also a Material Subsidiary. 

“Material Subsidiary” means, as of any date of determination, any Subsidiary of the Borrower that accounts for at least
two percent (2%) of Consolidated EBITDA of the Borrower and its Subsidiaries on a consolidated basis for the four fiscal quarter period ending on the last day of the fiscal year for which financial statements have been prepared immediately
preceding the date as of which any such determination is made. Notwithstanding the foregoing, Hyatt International shall be deemed to be a Material Subsidiary at all times. 
 “Materials of Environmental Concern” means any gasoline or petroleum (including crude oil or any fraction thereof) or petroleum products or any hazardous or toxic substances, materials,
or wastes, defined or regulated as such in or under any Environmental Law, including, without limitation, asbestos, polychlorinated biphenyls and urea-formaldehyde insulation. 
 “Maturity Date” means, as to each Lender, September 9, 2016. 

“Moody’s” means Moody’s Investors Service, Inc., or any successor or assignee of the business of such
company in the business of rating securities. 
 “Multiemployer Plan” means a Plan which is a multiemployer
plan as defined in Section 4001(a)(3) of ERISA. 
 “National Currency Unit” shall mean a fraction or
multiple of one Euro Unit expressed in units of the former national currency of a Participating Member State. 

“Non-Defaulting Lender” means, at any time, each Lender that is not a Defaulting Lender at such time. 

“Non-Recourse Debt” means any Funded Debt of the Borrower or any of its Subsidiaries if, and so long as, such Funded
Debt meets the requirements of clause (a) or (b) below: 
 (a) Such Funded Debt is secured solely by
Purchase Money Liens and: (i) the instruments governing such Funded Debt limit the recourse (whether direct or indirect) of the holders thereof against the Borrower and its Subsidiaries for the payment of such Indebtedness to the property
securing such Indebtedness (with customary exceptions, including, without limitation, recourse for fraud, waste, misapplication of insurance or condemnation proceeds, and environmental liabilities); provided that any partial Guaranty
Obligation by, or any other limited recourse for payment of such Funded Debt 

  
 - 19 -

 against, the Borrower or its Subsidiaries which is not expressly excluded from the
definition of “Guaranty Obligations” shall not prevent the non-guaranteed and non-recourse portion of such Funded Debt from constituting Non-Recourse Debt; and (ii) if such Funded Debt is incurred after the date hereof by the Borrower
or a Domestic Subsidiary of the Borrower, either (x) (1) the holders of such Funded Debt shall have irrevocably agreed that in the event of bankruptcy, insolvency or other similar proceeding with respect to the obligor of such Funded Debt,
such holders will elect (pursuant to Section 1111(b) of the Federal Bankruptcy Code or otherwise) to be treated as fully secured by, and as having no recourse against such obligor or any property of such obligor other than, the property
securing such Funded Debt, and (2) if, notwithstanding any election pursuant to clause (1) above, such holders shall have or shall obtain recourse against such obligor or any property of such obligor other than the property securing such
Funded Debt, such recourse shall be subordinated to the payment in full in cash of the obligations owing to the Administrative Agent and the Lenders under this Agreement; or (y) the property securing such Funded Debt is not material to the
business, financial condition, operations or properties of the Borrower and its Subsidiaries, take as a whole, as determined by the Borrower in its reasonable discretion at the time such Funded Debt is incurred; or 

(b) (i) The sole obligor of such Funded Debt (such obligor a “Specified Entity”) is a
corporation or other entity formed solely for the purpose of owning (or owning and operating) property which is (or may be) subject to one or more Purchase Money Liens, (ii) such Specified Entity owns no other material property and
(iii) the sole collateral security provided by the Borrower and its Subsidiaries with respect to such Funded Debt (if any) consists of property owned by such Specific Entity and/or the capital stock of (or equivalent ownership interest in) such
Specific Entity (provided that any partial Guaranty Obligation by, or any other limited recourse for payment of such Funded Debt against, the Borrower or its Subsidiaries which is not expressly excluded from the definition of “Guaranty
Obligations” shall, to the extent thereof, constitute a Guaranty Obligation but shall not prevent the non-guaranteed and non-recourse portion of such Funded Debt from constituting Non-Recourse Debt). 

“Note” or “Notes” means the promissory notes of the Borrower in favor of each of the Lenders that
request such notes (a) evidencing the Revolving Loans and Competitive Loans in substantially the form attached as Schedule 2.1(e) or (b) evidencing the Swingline Loans in substantially the form attached as
Schedule 2.3(d), with the foregoing individually or collectively, as appropriate, as such promissory notes may be amended, modified, supplemented, extended, renewed or replaced from time to time. 

“Notice of Borrowing” means a written notice of borrowing in substantially the form of Schedule 2.1(b)(i),
as required by Section 2.1(b)(i). 
 “Notice of Extension/Conversion” means the written notice of
extension or conversion in substantially the form of Schedule 2.7, as required by Section 2.7. 

  
 - 20 -

 “OFAC” shall mean the U.S. Department of the Treasury’s Office of
Foreign Assets Control. 
 “Officer’s Compliance Certificate” shall mean a certificate substantially in
the form of Schedule 5.2(a) attached hereto. 
 “Participant” has the meaning set forth in
Section 10.6(d). 
 “Participating Member State” means each country so described in any EMU Legislation.

 “Participation Interest” means the purchase by a Lender of a participation interest in Swingline Loans as
provided in Section 2.3(b)(ii) or in Letters of Credit as provided in Section 2.4(c). 
 “PBGC” means
the Pension Benefit Guaranty Corporation established pursuant to Subtitle A of Title IV of ERISA. 

“Permitted Liens” means: 
 (a) Liens created by or otherwise existing, under or in connection with this Credit Agreement or the other Credit Documents in favor of the Lenders; 

(b) Purchase Money Liens; 
 (c) Liens and other purchase money liens securing purchase money indebtedness arising in connection with Capital Leases; 

(d) Liens on real property assets of the Borrower and its Subsidiaries (including without limitation, the furniture,
fixtures and equipment related thereto) securing Non-Recourse Debt of the Borrower and its Subsidiaries; 
 (e)
Liens for taxes, assessments, charges or other governmental levies not yet due or as to which the period of grace, if any, related thereto has not expired or which are being contested in good faith by appropriate proceedings diligently pursued,
provided that adequate reserves with respect thereto are maintained on the books of the Borrower or its Subsidiaries, as the case may be, in conformity with GAAP (or, in the case of Subsidiaries with significant operations outside of the
United States of America, generally accepted accounting principles in effect from time to time in their respective jurisdictions of incorporation); 
 (f) statutory Liens of landlords and carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s or other like Liens arising in the ordinary course of business which are not
overdue for a period of more than sixty (60) days or which are being contested in good faith by appropriate proceedings diligently pursued, provided that (i) the Property subject to such Lien is not yet subject to foreclosure, sale
or loss on account thereof or any proceedings commenced for the enforcement of such Liens and 

  
 - 21 -

 
encumbrances shall have been duly suspended and (ii) adequate reserves with respect thereto are maintained on the books of the Borrower or its Subsidiaries, as the case may be, in conformity
with GAAP (or, in the case of Subsidiaries with significant operations outside of the United States of America, generally accepted accounting principles in effect from time to time in their respective jurisdictions of incorporation); 

(g) pledges or deposits in connection with workers’ compensation, unemployment insurance and other social security
legislation and deposits securing liability to insurance carriers under insurance or self-insurance arrangements; 
 (h) deposits to secure the performance of bids, trade contracts (other than for borrowed money), leases, government contracts, statutory obligations, surety and appeal bonds, performance bonds and other
obligations of a like nature incurred in the ordinary course of business; 
 (i) Liens in connection with
attachments or judgments (including judgment or appeal bonds) provided that the judgments secured shall, within 30 days after the entry thereof, have been discharged or execution thereof stayed pending appeal, or shall have been discharged
within 30 days after the expiration of any such stay; 
 (j) easements, rights-of-way, restrictions (including
zoning restrictions), minor defects or irregularities in title and other similar charges or encumbrances not, in any material respect, impairing the use of the encumbered Property for its intended purposes; 

(k) leases, subleases, licenses or sublicenses granted to others not interfering in any material respect with the business
of the Borrower and its Subsidiaries; 
 (l) any interest of title of a lessor or licensor under, and Liens
arising from UCC financing statements (or equivalent filings, registrations or agreements in foreign jurisdictions) relating to, leases or licenses permitted by this Agreement; 

(m) normal and customary rights of setoff upon deposits of cash in favor of banks or other depository institutions;

 (n) inchoate Liens arising under ERISA to secure current service pension liabilities as they are incurred
under the provisions of any Plan; 
 (o) Liens assumed in connection with an acquisition of all or substantially
all of the assets or Voting Stock of another Person permitted hereunder, so long as such Liens cover only the assets acquired pursuant to such acquisition and were not created in contemplation thereof; 

(p) [Intentionally Deleted]; 
 (q) Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties in connection with the importation of goods; 

  
 - 22 -

 (r) Liens arising in connection with consignments or similar arrangements
for the sale of goods in the ordinary course of business; 
 (s) Liens on assets of Persons which become
Subsidiaries after the date of this Agreement; provided, however, that such Liens existed at the time such Persons became Subsidiaries and were not created in anticipation thereof and such Liens do not extend to any other property of the Borrower or
its Subsidiaries (except proceeds of such Property and, in the case of Liens on real estate or equipments, items which become fixtures on such real estate or are accessions to such equipment); 

(t) Liens on the assets of Subsidiaries (other than any Wholly-Owned Subsidiary) to the extent the Indebtedness secured
thereby is Non-Recourse Debt. 
 (u) Liens existing on the Closing Date and set forth on
Schedule 6.1; provided that no such Lien shall at any time be extended to cover property or assets other than the Property or assets subject thereto on the Closing Date; provided, however, that Liens on new Property which
are in replacement of Liens on previously owned Property to the extent such new Property is acquired through like-kind exchanges or similar substitutions shall be permitted hereunder; 

(v) any extension, renewal or replacement (or successive extensions, renewals or replacements), in whole or in part, of
any Lien referred to in the foregoing clauses; provided that such extension, renewal or replacement Lien shall be limited to all or a part of the property which secured the Lien so extended, renewed or replaced (plus improvements on such
property); and 
 (w) other Liens in addition to those permitted by the foregoing clauses securing Indebtedness
in an aggregate amount not to exceed 10% of Consolidated Net Tangible Assets determined at such time. 

“Person” means any individual, partnership, joint venture, firm, corporation, limited liability company, association,
trust or other enterprise (whether or not incorporated) or any Governmental Authority. 
 “Plan” means, at any
particular time, any employee benefit plan which is covered by Title IV of ERISA and in respect of which the Borrower or an ERISA Affiliate is (or, if such plan were terminated at such time, would under Section 4069 of ERISA be deemed to be) an
“employer” as defined in Section 3(5) of ERISA. 
 “Portfolio Acquisition” means an acquisition of a
portfolio of real properties (whether by purchase of such properties, purchase of entities owning such properties, purchase of operating companies or some combination thereof) with a minimum gross purchase price of $1,000,000,000. 

  
 - 23 -

 “Pounds Sterling” and “£” means, at any time of
determination, the then official currency of the United Kingdom of Great Britain and Northern Ireland. 
 “Prime
Rate” means the rate of interest per annum publicly announced from time to time by the Lender then acting as Administrative Agent as its prime commercial lending rate in effect at its principal office, with each change in Prime Rate being
effective on the date such change is publicly announced as effective (it being understood and agreed that the Prime Rate is a reference rate used by the Lender then acting as Administrative Agent in determining interest rates on certain loans and is
not intended to be the lowest rate of interest charged on any extension of credit by the Lender then acting as Administrative Agent to any debtor). 
 “Pritzker Affiliate” shall mean (i) all lineal descendants of Nicholas J. Pritzker, deceased, and all spouses and adopted children of such descendants; (ii) all trusts for
the benefit of any person described in clause (i) and trustees of such trusts; (iii) all legal representatives of any person or trust described in clauses (i) or (ii); and (iv) all partnerships, corporations, limited
liability companies or other entities controlling, controlled by or under common control with any person, trust or other entity described in clauses (i), (ii) or (iii). “Control” for these purposes shall mean the ability to
influence, direct or otherwise significantly affect the major policies, activities or action of any person or entity. 

“Pro Forma Basis” means, with respect to any transaction, that such transaction shall be deemed to have occurred as of
the first day of the twelve-month period ending as of the most recent quarter end preceding the date of such transaction. 

“Property” means any interest in any kind of property or asset, whether real, personal or mixed, or tangible or
intangible. 
 “Property and Equipment” means the book value of all property and equipment of the Borrower and
its Subsidiaries, without giving effect to depreciation and amortization, determined on a consolidated basis in accordance with GAAP, and as set forth in the most recent financial statements of the Borrower available to the Lenders, giving pro forma
effect to acquisitions and dispositions of property and equipment effected since the date of such financial statements. 

“Purchase Money Liens” means any Lien on property, real or personal, acquired or constructed by the Borrower or any
Subsidiary of the Borrower: (a) to secure the purchase price of the property; (b) that was existing on such property at the time of acquisition thereof by the Borrower or such Subsidiary and assumed in connection with such acquisition;
(c) to secure Indebtedness otherwise incurred to finance the acquisition or construction of such property or incurred within 90 days following the acquisition or completion of such construction provided the principal amount of Indebtedness
secured by each such Lien shall at no time exceed 100% of the original purchase price of such related property or assets at the time acquired; or (d) to secure any Indebtedness incurred in connection with any extension, refunding or refinancing
of Indebtedness (whether or not secured and including Indebtedness under the Credit Documents) incurred, maintained or assumed in connection with, or otherwise related to, the acquisition or construction of such property; provided in each
case that (1) such Liens do not extend to, cover or otherwise encumber any property other than the property acquired or constructed by the 

  
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Borrower and its Subsidiaries (and any improvements made to such property acquired or constructed) and (2) such Liens do not cover current assets of the Borrower or any of its Subsidiaries
other than current assets that relate solely to other property subject to such Lien. 
 “Recovery Event” means
the receipt by the Borrower or any of its Subsidiaries of any cash insurance proceeds or condemnation award payable by reason of theft, loss, physical destruction or damage, taking or similar event with respect to any of their respective property or
assets. 
 “Register” has the meaning set forth in Section 10.6(c). 

“Regulation T, U, or X” means Regulation T, U or X, respectively, of the Board of Governors of the
Federal Reserve System as from time to time in effect and any successor to all or a portion thereof. 
 “Related
Parties” means, with respect to any Person, such Person’s Affiliates and the partners, directors, members, officers, employees, agents and advisors of such Person and of such Person’s Affiliates. 

“Reorganization” means, with respect to any Multiemployer Plan, the condition that such Plan is in reorganization within
the meaning of such term as used in Section 4241 of ERISA. 
 “Replaced Lender” has the meaning set forth
in Section 2.20. 
 “Reportable Event” means any of the events set forth in Section 4043(c) of ERISA,
other than those events as to which the thirty-day notice period is waived. 
 “Required Lenders” means, at any
time, Lenders having more than fifty percent (50%) of the Commitments, or if the Commitments have been terminated, Lenders having more than fifty percent (50%) of (a) the aggregate principal Dollar Amount (determined as of the most
recent Revaluation Date) of Loans outstanding; provided that the Commitments of, and outstanding principal Dollar Amount (determined as of the most recent Revaluation Date) of Loans owing to, a Defaulting Lender shall be excluded for purposes
hereof in making a determination of Required Lenders and (b) the outstanding Participation Interests (including the Participation Interests of an Issuing Lender in any Letters of Credit and of the Swingline Lender in any Swingline Loans).

 “Requirement of Law” means, as to any Person, the certificate of incorporation and by-laws or other
organizational or governing documents of such Person, and any law, treaty, rule or regulation or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to or binding upon such Person or any of its material
property is subject. 
 “Responsible Officer” means as to the Borrower, any of the chief executive officer, the
chief financial officer, the president, the treasurer, the assistant treasurer, the controller or any senior or executive vice president of the Borrower. 

  
 - 25 -

 “Restricted Payment” means (a) any dividend or other
distribution, direct or indirect, on account of any shares of any class of Capital Stock of the Borrower or any of its Subsidiaries, now or hereafter outstanding, (b) any redemption, retirement, sinking fund or similar payment, purchase or
other acquisition for value, direct or indirect, of any shares of any class of Capital Stock of the Borrower or any of its Subsidiaries, now or hereafter outstanding and (c) any payment made to retire, or to obtain the surrender of, any
outstanding warrants, options or other rights to acquire shares of any class of Capital Stock of the Borrower or any of its Subsidiaries, now or hereafter outstanding. 
 “Revaluation Date” shall mean, with respect to any Extension of Credit, each of the following: (a) in connection with the origination of any new Extension of Credit, the Business Day
which is the earliest of the date such credit is extended, the date the rate is set or the date the bid is accepted, as applicable; (b) in connection with any extension or conversion or continuation of an existing Loan, the Business Day that is
the earlier of the date such advance is extended, converted or continued, or the date the rate is set, as applicable, in connection with any extension, conversion or continuation; (c) each date a Letter of Credit is issued or renewed pursuant
to Section 2.4 or amended in such a way as to modify the LOC Obligations; (d) the date of any reduction of any of the Aggregate Revolving Committed Amount, or the LOC Committed Amount pursuant to the terms of Section 2.9, as the case
may be; and (e) such additional dates as the Administrative Agent or the Required Lenders shall deem reasonably necessary. For purposes of determining availability hereunder, the rate of exchange for any Foreign Currency shall be the Spot Rate.

 “Revolving Credit Exposure” means, as to any Lender at any time, the Dollar Amount (determined as of the
most recent Revaluation Date) of the aggregate principal amount at such time of its outstanding Revolving Loans and such Lender’s participation in LOC Obligations and Swingline Loans at such time. 

“Revolving Commitment” means, with respect to each Lender, the commitment of such Lender to make Revolving Loans in an
aggregate principal Dollar Amount (determined as of the most recent Revaluation Date) at any time outstanding up to such Lender’s Revolving Committed Amount as specified in Schedule 2.1(a), as such amount may be reduced from time to
time in accordance with the provisions hereof. 
 “Revolving Committed Amount” means the amount of each
Lender’s Commitment as specified in Schedule 2.1(a), as such amount may be reduced from time to time in accordance with the provisions hereof. 
 “Revolving Loans” has the meaning set forth in Section 2.1(a). 
 “Sanctioned Entity” means (a) an agency of the government of, (b) an organization directly or indirectly controlled by, or (c) a Person resident in, in each case, a country
that is subject to a sanctions program identified on the list maintained by the OFAC and published from time to time, as such program may be applicable to such agency, organization or Person. 

  
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 “Sanctioned Person” means a person named on the list of Specially
Designated Nationals or Blocked Persons maintained by OFAC as published from time to time. 
 “Secured Funded
Debt” means, as of any date of determination, without duplication, the aggregate principal amount of all Funded Debt of the Borrower and its Subsidiaries on a consolidated basis that is secured in any manner by any Lien. 

“Secured Funded Debt Ratio” means, as of any date of determination, with respect to the Borrower and its Subsidiaries on
a consolidated basis, the ratio of (a) Secured Funded Debt on such date to (b) Property and Equipment on such date. Not more than $250,000,000 of Secured Funded Debt assumed in connection with, not in contemplation of, and existing at the
time of, an acquisition described in clause (o) or (s) of the definition of “Permitted Lien” (and any new Secured Funded Debt refinancing, and to the extent not increasing the principal balance of, any such Secured Funded Debt
(so long as new Secured Funded Debt is secured by a Permitted Lien described in clause (v) of the definition of “Permitted Lien”)) may be excluded from the Secured Funded Debt Ratio for a period not to exceed one year following such
acquisition. 
 “Security” means “security” as defined in Section 2(1) of the Securities Act of
1933, as amended. 
 “S&P” means Standard & Poor’s Ratings Group, a division of McGraw
Hill, Inc., or any successor or assignee of the business of such division in the business of rating securities. 

“Single Employer Plan” means any Plan which is not a Multiemployer Plan. 

“Specified Entity” has the meaning set forth in the definition of “Non-Recourse Debt”. 

“Spot Rate” shall mean, with respect to any Foreign Currency, the rate quoted by the Lender then acting as
Administrative Agent as the spot rate for the purchase by the Lender then acting as Administrative Agent of such Foreign Currency with Dollars through its principal foreign exchange trading office at approximately 11:00 a.m. on the date two Business
Days prior to the date as of which the foreign exchange computation in made. 
 “Subsidiary” means, as to any
Person, a corporation, partnership, limited liability company or other entity of which shares of stock or other ownership interests having ordinary voting power to elect a majority of the directors or other managers of such corporation, partnership,
limited liability company or other entity (irrespective of whether or not at the time, any class or classes of such corporation shall have or might have voting power by reason of the happening of any contingency) are at the time owned by such Person
directly or indirectly through Subsidiaries. Unless otherwise identified, “Subsidiary” or “Subsidiaries” means Subsidiaries of the Borrower. 
 “Swingline Commitment” means the commitment of the Swingline Lender to make Swingline Loans in an aggregate principal Dollar Amount (determined as of the most recent Revaluation Date) at
any time outstanding up to the Swingline Committed Amount, and the commitment of the Lenders to purchase participation interests in the Swingline Loans as 

  
 - 27 -

 
provided in Section 2.3(b)(ii), as such amounts may be reduced from time to time in accordance with the provisions hereof. 

“Swingline Committed Amount” means the Dollar Amount of the Swingline Lender’s Swingline Commitment as specified in
Section 2.3(a). 
 “Swingline Lender” means the Lender then acting as Administrative Agent, in its
capacity as such. 
 “Swingline Loan” or “Swingline Loans” has the meaning set forth in
Section 2.3(a). 
 “Swingline Maturity Date” shall mean the earlier of (a) the date that is
five (5) Business Days after such Swingline Loan is made and (b) the Maturity Date. 
 “Swingline
Note” means the promissory note of the Borrower in favor of the Swingline Lender evidencing the Swingline Loans provided pursuant to Section 2.3(d), as such promissory note may be amended, modified, supplemented, extended, renewed or
replaced from time to time. 
 “Syndication Agent” has the meaning set forth in the first paragraph hereof,
together with any successors or assigns. 
 “Taxes” has the meaning set forth in Section 2.18. 

“Transfer Authorizer Designation Form” means a form substantially in the form of Schedule 1.1(b) to be delivered to
the Administrative Agent pursuant to Section 4.1(n), as the same may be amended, restated or modified from time to time with the prior written approval of the Administrative Agent. 

“Treaty on European Union” shall mean the Treaty of Rome of March 25, 1957, as amended by the Single European Act
1986 and the Maastricht Treaty (which was signed at Maastricht on February 1, 1992 and came into force on November 1, 1993), as amended from time to time. 
 “Type” means, as to any Loan, its nature as an Alternate Base Rate Loan, LIBOR Rate Loan or Swingline Loan, as the case may be. 

“U.S. LIBOR Lending Office” shall mean, initially, the office(s) of each Lender designated as such Lender’s U.S.
LIBOR Lending Office as set forth in the Administrative Questionnaire delivered by each Lender to the Administrative Agent and thereafter, such other office of such Lender as such Lender may from time to time specify to the Administrative Agent and
the Borrower as the office of such Lender at which the LIBOR Rate Loans of such Lender denominated in Dollars are to be made. 

“Voting Stock” means, with respect to any Person, Capital Stock issued by such Person the holders of which are
ordinarily, in the absence of contingencies, entitled to vote for the 

  
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election of directors (or persons performing similar functions) of such Person, even though the right so to vote has been suspended by the happening of such a contingency. 

“Wells Fargo” means Wells Fargo Bank, National Association and its successors. 

“Wholly-Owned Subsidiary” means, at any time, any Subsidiary of which all of the equity interests (except
directors’ qualifying shares or shares aggregating either (x) a de minimus amount of the outstanding shares of such Subsidiary which are owned by local residents thereof as required by local law or (y) less than 1% of the outstanding
shares of such Subsidiary which are owned by individuals) and voting interests are owned by any one or more of the Borrower and the Borrower’s other Wholly-Owned Subsidiaries at such time. 

 

	 	1.2	Computation of Time Periods. 

 All time references in this Credit Agreement and the other Credit Documents shall be to Charlotte, North Carolina time unless otherwise indicated. For purposes of computation of periods of time hereunder,
the word “from” means “from and including” and the words “to” and “until” each mean “to but excluding.” 
  

	 	1.3	Accounting Terms. 

 Unless
otherwise specified herein, all accounting terms used herein shall be interpreted, all accounting determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared in accordance with GAAP as in
effect on the Closing Date. 
  

	 	1.4	Exchange Rates; Currency Equivalents. 

 (a) The Administrative Agent shall determine the Spot Rates as of each Revaluation Date to be used for calculating the Dollar Amounts of Extensions of Credit and amounts outstanding hereunder denominated
in Foreign Currencies. Such Spot Rates shall become effective as of such Revaluation Date and shall be the Spot Rates employed in converting any amounts between the applicable currencies until the next Revaluation Date to occur. Except for purposes
of financial statements delivered by the Company hereunder or calculating financial covenants hereunder or except as otherwise provided herein, the applicable amount of any currency for purposes of the Credit Documents and the Fee Letter shall be
such Dollar Amount as so determined by the Administrative Agent acting in its commercially reasonable discretion. 
 (b)
Wherever in this Credit Agreement in connection with an Extension of Credit, conversion, continuation or prepayment of a Loan, an amount, such as a required minimum or multiple amount, is expressed in Dollars, but such Extension of Credit or Loan is
denominated in a Foreign Currency, such amount shall be the relevant Foreign Currency Equivalent of such Dollar Amount (rounded to the nearest 1,000 units of such Foreign Currency), as determined by the Administrative Agent. 

  
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	 	1.5	Redenomination of Certain Foreign Currencies and Computation of Dollar Amounts. 

(a) Each obligation of the Borrower to make a payment denominated in the National Currency Unit of any member state of the European Union
that adopts the Euro as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption (in accordance with the EMU Legislation). If, in relation to the currency of any such member state, the basis of accrual
of interest expressed in this Credit Agreement in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall
be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any Extension of Credit in the currency of such member state is outstanding immediately
prior to such date, such replacement shall take effect, with respect to such Extension of Credit, at the end of the then current Interest Period. 
 (b) Each provision of this Credit Agreement relating to Loans or Letters of Credit denominated in Euro shall be subject to such reasonable changes of construction as the Administrative Agent may from time
to time specify to be appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro; provided such changes are generally made to the credit
documentation for other borrowers similarly situated to the Borrower. 
 (c) References herein to minimum Dollar Amounts and
integral multiples stated in Dollars, where they shall also be applicable to Foreign Currency, shall be deemed to refer to approximate Foreign Currency Equivalents. 
 SECTION 2  
 CREDIT FACILITY 

 

	 	2.1	Revolving Loans. 

 (a)
Commitment. During the Commitment Period, subject to the terms and conditions hereof, each Lender severally agrees to make Loans in Dollars and Foreign Currencies (the “Revolving Loans”) to the Borrower from time to time in
the amount of such Lender’s Commitment Percentage of such Loans for the purposes hereinafter set forth; provided that (i) with regard to the Lenders collectively, the sum of the aggregate principal Dollar Amount (determined as of
the most recent Revaluation Date) of outstanding Revolving Loans plus outstanding Swingline Loans plus LOC Obligations plus outstanding Competitive Loans shall not exceed the Aggregate Revolving Committed Amount, and
(ii) with regard to each Lender individually, the sum of the aggregate principal Dollar Amount (determined as of the most recent Revaluation Date) of such Lender’s Commitment Percentage of outstanding Revolving Loans plus such
Lender’s Commitment Percentage of Swingline Loans plus such Lender’s LOC Commitment Percentage of LOC Obligations shall not exceed such Lender’s Revolving Committed Amount and (iii) with regard to the Lenders collectively,
the aggregate principal Dollar Amount (determined as of the most recent Revaluation Date) of Foreign Currency Loans 

  
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shall not exceed the Foreign Currency Sublimit. Revolving Loans may consist of Alternate Base Rate Loans or LIBOR Rate Loans, or a combination thereof, as the Borrower may request, and may be
repaid and reborrowed in accordance with the provisions hereof; provided, however, (A) Loans denominated in a Foreign Currency shall consist solely of LIBOR Rate Loans and (B) Loans made on the Closing Date or on any of the
three Business Days following the Closing Date may only consist of Alternate Base Rate Loans unless the Borrower executes a funding indemnity letter in form and substance satisfactory to the Administrative Agent. LIBOR Rate Loans denominated in
Dollars shall be made by each Lender at its U.S. LIBOR Lending Office. LIBOR Rate Loans denominated in a Foreign Currency shall be made by each Lender at its Foreign Currency LIBOR Lending Office. Alternate Base Rate Loans shall be made by each
Lender at its Domestic Lending Office. 
 (b) Revolving Loan Borrowings. 

(i) Notice of Borrowing. The Borrower shall request a Loan borrowing by written notice (or telephone notice
promptly confirmed in writing) to the Administrative Agent not later than 11:00 A.M. on the Business Day of the requested borrowing in the case of Alternate Base Rate Loans denominated in Dollars, 1:00 P.M. on the third Business Day prior
to the date of the requested borrowing in the case of LIBOR Rate Loans denominated in Dollars and 1:00 P.M. on the fourth Business Day prior to the date of the requested borrowing in the case of all LIBOR Rate Loans denominated in any Foreign
Currency. Each such request for borrowing shall be irrevocable and shall specify (A) that a Loan is requested, (B) the date of the requested borrowing (which shall be a Business Day), (C) the currency and the aggregate principal
amount to be borrowed, (D) whether the borrowing shall be comprised of Alternate Base Rate Loans, LIBOR Rate Loans or a combination thereof, and if LIBOR Rate Loans are requested, the Interest Period(s) therefore and currency therefor. If the
Borrower shall fail to specify in any such Notice of Borrowing (1) an applicable Interest Period in the case of a LIBOR Rate Loan, then such notice shall be deemed to be a request for an Interest Period of one month, or (2) the Type of
Loan requested, then such notice shall be deemed to be a request for a Alternate Base Rate Loan hereunder or (3) the currency of the Revolving Loan requested, then such notice shall be deemed to be a request for a Revolving Loan denominated in
Dollars. The Administrative Agent shall give notice to each Lender promptly upon receipt of each Notice of Borrowing pursuant to this Section 2.1(b)(i), the contents thereof and each such Lender’s share of any borrowing to be made pursuant
thereto. 
 (ii) Minimum Amounts. Each Revolving Loan shall be in a minimum aggregate principal Dollar
Amount (determined as of the most recent Revaluation Date) of (A) in the case of LIBOR Rate Loans, $5,000,000 and integral multiples of $1,000,000 in excess thereof (or the remaining Aggregate Revolving Committed Amount, if less) and
(B) in the case of Alternate Base Rate Loans, $1,000,000 and integral multiples of $250,000 in excess thereof (or the remaining Aggregate Revolving Committed Amount, if less). 

  
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 (iii) Advances. Each Lender will make its Commitment Percentage of
each Loan borrowing available to the Administrative Agent for the account of the Borrower, in Dollars or the applicable Foreign Currency, as applicable, at the Administrative Agent’s Office, or at such office as the Administrative Agent may
designate in writing and in funds immediately available to the Administrative Agent, by (A) 2:00 P.M. on the date specified in the applicable Notice of Borrowing in the case of any Revolving Loan denominated in Dollars and (B) the
Applicable Time specified by the Administrative Agent in the case of any Revolving Loan denominated in a Foreign Currency. Such borrowing will then be made available to the Borrower by the Administrative Agent by crediting the account designated by
the Borrower with the aggregate of the amounts made available to the Administrative Agent by the Lenders and in like funds as received by the Administrative Agent. 
 (c) Repayment. The principal amount of all Loans shall be due and payable in full on the Maturity Date. 
 (d) Interest. Subject to the provisions of Section 2.6: 

(i) Alternate Base Rate Loans. During such periods as Loans shall be comprised in whole or in part of Alternate
Base Rate Loans, such Alternate Base Rate Loans shall bear interest at a per annum rate equal to the Alternate Base Rate plus the Applicable Percentage; and 

(ii) LIBOR Rate Loans. During such periods as Loans shall be comprised in whole or in part of LIBOR Rate Loans,
such LIBOR Rate Loans shall bear interest at a per annum rate equal to the LIBOR Rate plus the Applicable Percentage plus, if applicable, the Mandatory Cost. 
 Interest on Loans shall be payable in arrears on each applicable Interest Payment Date (or at such other times as may be specified herein). 

(e) Notes. The Loans shall be further evidenced by a duly executed Note in favor of each Lender in the form of Schedule
2.1(e) attached hereto, if requested by such Lender. 
 (f) Maximum Number of LIBOR Rate Loans. The Borrower will be
limited to a maximum number of ten (10) LIBOR Rate Loans outstanding at any time. For purposes hereof, LIBOR Rate Loans with separate or different Interest Periods will be considered as separate LIBOR Rate Loans even if their Interest Periods
expire on the same date. 
 (g) Redenomination of Foreign Currency Loans. Notwithstanding anything herein to the
contrary, during the existence of an Event of Default, the Required Lenders may demand that any or all of the then outstanding Foreign Currency Loans be prepaid, or redenominated into Dollars in the Dollar Amount thereof, on the last day of the then
current Interest Period with respect thereto. The Administrative Agent will promptly notify the Borrower of any such prepayment or redenomination request. 

  
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	 	2.2	Competitive Loan Subfacility. 

 (a) Competitive Loans. Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein, during the Commitment Period to the extent the
Borrower’s Debt Rating is BBB- or Baa3 or better at such time, the Borrower may request and each Lender may, in its sole discretion, agree to make, Competitive Loans to the Borrower in Dollars; provided, however, that (i) the
aggregate principal amount of all Competitive Loans shall not exceed 50% of the remainder of (x) the Aggregate Revolving Committed Amount less (y) the Dollar Amount (determined as of the most recent Revaluation Date) of the sum of
the outstanding Revolving Loans plus outstanding Swingline Loans plus LOC Obligations, (ii) with regard to each Lender individually, the sum of the Dollar Amount (determined as of the most recent Revaluation Date) of such
Lender’s Commitment Percentage of outstanding Revolving Loans plus such Lender’s Commitment Percentage of Swingline Loans plus such Lender’s LOC Commitment Percentage of LOC Obligations shall not exceed such
Lender’s Revolving Committed Amount and (iii) with regard to the Lenders collectively, the sum of the aggregate Dollar Amount (determined as of the most recent Revaluation Date) of outstanding Revolving Loans plus Swingline Loans
plus LOC Obligations plus Competitive Loans shall not exceed the Aggregate Revolving Committed Amount. Each Competitive Loan shall be not less than $3,000,000 in the aggregate and integral multiples of $1,000,000 in excess thereof (or
the remaining portion of the Revolving Committed Amount, if less). 
 (b) Competitive Bid Requests. The Borrower may
solicit Competitive Bids by delivery of a Competitive Bid Request substantially in the form of Schedule 2.2(b)-1 to the Administrative Agent by 12:00 noon on a Business Day not less than three (3) Business Days prior to the date of
a requested Competitive Loan borrowing. A Competitive Bid Request shall specify (i) the date of the requested Competitive Loan borrowing (which shall be a Business Day), (ii) the amount of the requested Competitive Loan borrowing and
(iii) the applicable Interest Periods requested. The Administrative Agent shall, promptly following its receipt of a Competitive Bid Request under this subsection (b), notify the affected Lenders of its receipt and the contents thereof and
invite the Lenders to submit Competitive Bids in response thereto. A form of such notice is provided in Schedule 2.2(b)-2. No more than three (3) Competitive Bid Requests (e.g., the Borrower may request Competitive Bids for no more
than three (3) different Interest Periods at a time) shall be submitted at any one time and Competitive Bid Requests may be made no more frequently than once every five (5) Business Days. 

(c) Competitive Bid Procedure. Each Lender may, in its sole discretion, make one or more Competitive Bids to the Borrower in
response to a Competitive Bid Request. Each Competitive Bid must be received by the Administrative Agent not later than 10:00 A.M. on the Business Day next succeeding the date of receipt by the Administrative Agent of the related Competitive
Bid Request. A Lender may offer to make all or part of the requested Competitive Loan borrowing and may submit multiple Competitive Bids in response to a Competitive Bid Request. The Competitive Bid shall specify (i) the particular Competitive
Bid Request as to which the Competitive Bid is submitted, (ii) the minimum (which shall be not less than $3,000,000 and integral multiples of $1,000,000 in excess thereof) and maximum principal amounts of the requested Competitive Loan or Loans
as to which the Lender is willing to make, and (iii) the applicable interest rate or rates and Interest Period or Periods therefor. A form of such Competitive 

  
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Bid is provided in Schedule 2.2(c). A Competitive Bid submitted by a Lender in accordance with the provisions hereof shall be irrevocable. The Administrative Agent shall promptly
notify the Borrower of all Competitive Bids made and the terms thereof. The Administrative Agent shall send a copy of each of the Competitive Bids to the Borrower for its records as soon as practicable. 

(d) Submission of Competitive Bids by Administrative Agent. If the Administrative Agent, in its capacity as a Lender, elects to
submit a Competitive Bid in response to any Competitive Bid Request, it shall submit such Competitive Bid directly to the Borrower one-half of an hour earlier than the latest time at which the other Lenders are required to submit their Competitive
Bids to the Administrative Agent in response to such Competitive Bid Request pursuant to subsection (c) above. 
 (e)
Acceptance of Competitive Bids. The Borrower may, in its sole and absolute discretion, subject only to the provisions of this subsection (e), accept or refuse any Competitive Bid offered to it. To accept a Competitive Bid, the Borrower
shall give written notification (or telephonic notice promptly confirmed in writing) substantially in the form of Schedule 2.2(e) of its acceptance of any or all such Competitive Bids to the Administrative Agent by 11:00 A.M. on the
Business Day following the date on which bids are to be received by the Administrative Agent from the Lenders in accordance with the terms of Section 2.2(c); provided, however, (i) the failure by the Borrower to give timely
notice of its acceptance of a Competitive Bid shall be deemed to be a refusal thereof, (ii) the Borrower may accept Competitive Bids only in ascending order of rates, (iii) the aggregate amount of Competitive Bids accepted by the Borrower
shall not exceed the principal amount specified in the Competitive Bid Request, (iv) the Borrower may accept a portion of a Competitive Bid in the event, and to the extent, acceptance of the entire amount thereof would cause the Borrower to
exceed the principal amount specified in the Competitive Bid Request, subject however to the minimum amounts provided herein (and provided that where two or more Lenders submit such a Competitive Bid at the same Competitive Bid Rate, then pro rata
between or among such Lenders) and (v) no bid shall be accepted for a Competitive Loan unless such Competitive Loan is in a minimum principal Dollar Amount (determined as of the most recent Revaluation Date) of $3,000,000 and integral multiples
of $1,000,000 in excess thereof, except that where a portion of a Competitive Bid is accepted in accordance with the provisions of subsection (iv) hereof, then in a minimum principal Dollar Amount (determined as of the most recent Revaluation
Date) of $500,000 and integral multiples of $100,000 in excess thereof (but not in any event less than the minimum amount specified in the Competitive Bid), and in calculating the pro rata allocation of acceptances of portions of multiple bids at a
particular Competitive Bid Rate pursuant to subsection (iv) hereof, the amounts shall be rounded to integral multiples of $100,000 in a manner which shall be in the discretion of the Borrower. A notice of acceptance of a Competitive Bid given
by the Borrower in accordance with the provisions hereof shall be irrevocable. The Administrative Agent shall, not later than 12:00 noon on the date of receipt by the Administrative Agent of a notification from the Borrower of its acceptance
and/or refusal of Competitive Bids, notify each affected Lender of its receipt and the contents thereof. Upon its receipt from the Administrative Agent of notification of the Borrower’s acceptance of its Competitive Bid in accordance with the
terms of this subsection (e), each successful bidding Lender will thereupon become bound, subject to the other applicable conditions hereof, to make the Competitive Loan in respect of which its bid has been accepted. 

  
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 (f) Funding of Competitive Loans. Each Lender which is to make a Competitive Loan
shall make its Competitive Loan borrowing available to the Administrative Agent for the account of the Borrower at the office of the Administrative Agent specified in Schedule 10.2, or at such other office as the Administrative Agent may
designate in writing, by 1:30 P.M. on the date specified in the Competitive Bid Request in funds immediately available to the Administrative Agent. Such borrowing will then be made available to the Borrower by crediting the account of the
Borrower on the books of such office with the aggregate of the amount made available to the Administrative Agent by the applicable Competitive Loan Lenders and in like funds as received by the Administrative Agent. 

(g) Maturity of Competitive Loans. Each Competitive Loan shall mature and be due and payable in full on the last day of the
Interest Period applicable thereto, unless accelerated sooner pursuant to Section 7.2. Unless the Borrower shall give notice to the Administrative Agent otherwise on or before 1:00 P.M. on the third Business Day prior to the last day of
the end of the Interest Period for a Competitive Loan, the Borrower shall be deemed to have requested a Revolving Loan borrowing comprised entirely of LIBOR Rate Loans denominated in Dollars in the amount of the maturing Competitive Loan and having
an Interest Period of one month, the proceeds of which will be used to repay such Competitive Loan. 
 (h) Interest on
Competitive Loans. Subject to the provisions of Section 2.6, Competitive Loans shall bear interest in each case at the Competitive Bid Rate applicable thereto. Interest on Competitive Loans shall be payable in arrears on each Interest
Payment Date. 
 (i) Competitive Bid Auction Fee. The Borrower shall pay to the Administrative Agent the related bid
auction fees as agreed in writing from time to time by the Borrower and the Administrative Agent. 
 (j) Competitive Loan
Notes. The Competitive Loans made by each Lender shall be further evidenced by such Lender’s Revolving Note, if a Revolving Note was requested by such Lender. 
  

	 	2.3	Swingline Loan Subfacility. 

 (a) Swingline Commitment. During the Commitment Period, subject to the terms and conditions hereof, the Swingline Lender, in its individual capacity, agrees to make certain revolving credit loans
in Dollars to the Borrower (each a “Swingline Loan” and, collectively, the “Swingline Loans”) for the purposes hereinafter set forth; provided, however, (i) the aggregate principal amount of
Swingline Loans outstanding at any time shall not exceed FIFTY MILLION DOLLARS ($50,000,000) (the “Swingline Committed Amount”) and (ii) the sum of the aggregate principal Dollar Amount (determined as of the most recent
Revaluation Date) of outstanding Revolving Loans plus Swingline Loans plus LOC Obligations plus Competitive Loans shall not exceed the Aggregate Revolving Committed Amount. Swingline Loans hereunder may be repaid and reborrowed
in accordance with the provisions hereof. 

  
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 (b) Swingline Loan Borrowings. 

(i) Notice of Borrowing and Disbursement. The Swingline Lender will make Swingline Loans in Dollars available to
the Borrower on any Business Day upon request made by the Borrower not later than 1:00 p.m. on such Business Day. A notice of request for Swingline Loan borrowing shall be made in the form of Schedule 2.1(b)(i) with appropriate
modifications and submitted to the Swingline Lender’s Domestic Lending Office. Swingline Loan borrowings hereunder shall be made in minimum Dollar Amounts of $100,000 and in integral Dollar Amounts of $100,000 in excess thereof. 

(ii) Repayment of Swingline Loans. Each Swingline Loan borrowing shall be due and payable on the Swingline Maturity
Date. The Swingline Lender may, at any time, in its sole discretion, by written notice to the Borrower and the Administrative Agent, demand repayment of its Swingline Loans by way of a Revolving Loan borrowing, in which case the Borrower shall be
deemed to have requested a Revolving Loan borrowing comprised entirely of Alternate Base Rate Loans in the Dollar Amount of such Swingline Loans; provided, however, that, in the following circumstances, any such demand shall also be
deemed to have been given one Business Day prior to each of (A) the Maturity Date, (B) the occurrence of any Event of Default described in Section 7.1(e), (C) upon acceleration of the Credit Party Obligations hereunder, whether
on account of an Event of Default described in Section 7.1(e) or any other Event of Default and (D) the exercise of remedies in accordance with the provisions of Section 7.2 hereof (each such Revolving Loan borrowing made on account
of any such deemed request therefor as provided herein being hereinafter referred to as a “Mandatory Borrowing”). Each Lender hereby irrevocably agrees to make such Revolving Loans promptly upon any such request or deemed request on
account of each Mandatory Borrowing in the Dollar Amount and in the manner specified in the preceding sentence and on the same such date notwithstanding (A) the amount of Mandatory Borrowing may not comply with the minimum amount for
borrowings of Revolving Loans otherwise required hereunder, (B) whether any conditions specified in Section 4.2 are then satisfied, (C) whether a Default or an Event of Default then exists, (D) failure of any such request or
deemed request for Revolving Loans to be made by the time otherwise required in Section 2.1(b)(i), (E) the date of such Mandatory Borrowing, or (F) any reduction in the Revolving Committed Amount or termination of the Revolving
Commitments immediately prior to such Mandatory Borrowing or contemporaneously therewith. In the event that any Mandatory Borrowing cannot for any reason be made on the date otherwise required above (including, without limitation, as a result of the
commencement of a proceeding under the Bankruptcy Code with respect to the Borrower), then each Lender hereby agrees that it shall forthwith purchase (as of the date the Mandatory Borrowing would otherwise have occurred, but adjusted for any
payments received from the Borrower on or after such date and prior to such purchase) from the Swingline Lender such participations in the outstanding Swingline Loans as shall be necessary to cause each such Lender to share in such Swingline Loans
ratably based upon its respective Commitment Percentage (determined before giving effect to any termination of the Commitments pursuant to Section 7.2), provided that (A) all interest payable on the Swingline Loans shall be for the
account of the Swingline Lender until the date as of 

  
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which the respective participation is purchased, and (B) at the time any purchase of participations pursuant to this sentence is actually made, the purchasing Lender shall be required to pay
to the Swingline Lender interest on the principal amount of such participation purchased for each day from and including the day upon which the Mandatory Borrowing would otherwise have occurred to but excluding the date of payment for such
participation, at the rate equal to, if paid within two (2) Business Days of the date of the Mandatory Borrowing, the Federal Funds Effective Rate, and thereafter at a rate equal to the Alternate Base Rate. 

(c) Interest on Swingline Loans. Subject to the provisions of Section 2.6, Swingline Loans shall bear interest at a per annum
rate equal to the Alternate Base Rate plus the Applicable Percentage for Revolving Loans that are Alternate Base Rate Loans. Interest on Swingline Loans shall be payable in arrears on each Interest Payment Date. 

(d) Swingline Note. The Swingline Loans shall be evidenced by a duly executed promissory note of the Borrower to the Swingline
Lender in the original Dollar Amount of the Swingline Committed Amount and substantially in the form of Schedule 2.3(d). 
  

	 	2.4	Letter of Credit Subfacility. 

 (a) Issuance. Subject to the terms and conditions hereof and of the LOC Documents, if any, and any other terms and conditions which the applicable Issuing Lender may reasonably require, during the
Commitment Period each Issuing Lender shall issue, and the Lenders shall severally participate in, Letters of Credit for the account of the Borrower from time to time upon request in a form acceptable to the applicable Issuing Lender;
provided, however, that (i) the aggregate Dollar Amount of LOC Obligations shall not at any time exceed THREE HUNDRED MILLION DOLLARS ($300,000,000) (the “LOC Committed Amount”), (ii) the sum of the
aggregate principal Dollar Amount (determined as of the most recent Revaluation Date) of Revolving Loans plus Swingline Loans plus LOC Obligations plus Competitive Loans shall not at any time exceed the Aggregate Revolving
Committed Amount, (iii) all Letters of Credit shall be denominated in Dollars or Foreign Currencies and (iv) Letters of Credit shall be issued for lawful corporate purposes and may be issued as standby letters of credit, including in
connection with workers’ compensation and other insurance programs. Except as otherwise expressly agreed upon by all the Lenders, no Letter of Credit shall have an original expiry date more than twelve (12) months from the date of
issuance; provided, however, so long as no Default or Event of Default has occurred and is continuing and subject to the other terms and conditions to the issuance of Letters of Credit hereunder, the expiry dates of Letters of Credit
may be extended annually or periodically from time to time on the request of the Borrower or by operation of the terms of the applicable Letter of Credit to a date not more than twelve (12) months from the date of extension; provided,
further, that a Letter of Credit may, as a result of its express terms or as the result of the effect of an automatic extension provision, have an expiration date of not more than one year beyond the Maturity Date so long as the Borrower
delivers to the Administrative Agent for the benefit of the applicable Issuing Lender no later than 30 days prior to the Maturity Date, Cash Collateral for such Letter of Credit for deposit into a cash collateral account in respect of such Letter of
Credit in an amount equal to the amount available to be drawn by a beneficiary under such Letter of Credit at such time of determination. Each Letter of Credit shall 

  
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comply with the related LOC Documents. The issuance and expiry date of each Letter of Credit shall be a Business Day. Any Letters of Credit issued hereunder shall be in a minimum original face
Dollar Amount of $100,000 or such lesser Dollar Amount as the applicable Issuing Lender may agree. As of the Closing Date, Wells Fargo and Bank of America, N.A. are the Issuing Lenders with respect to Domestic Letters of Credit. Wells Fargo and any
Discretionary Issuing Lender may be an Issuing Lender for any Foreign Letters of Credit issued on or after the Closing Date. The parties hereto agree that the Existing Letters of Credit shall be deemed to be Letters of Credit for all purposes of
this Agreement. 
 (b) Notice and Reports. The request for the issuance of a Letter of Credit shall be submitted to the
applicable Issuing Lender at least five (5) Business Days prior to the requested date of issuance (or such shorter period as may be acceptable to such Issuing Lender in its sole discretion). Each Issuing Lender will promptly upon request
provide to the Administrative Agent for dissemination to the Lenders a detailed report specifying the Letters of Credit which are then issued by such Issuing Lender and outstanding and any activity with respect thereto which may have occurred since
the date of any prior report, and including therein, among other things, the account party, the beneficiary, the face amount, expiry date as well as any payments or expirations which may have occurred. Each Issuing Lender will further provide to the
Administrative Agent promptly upon request copies of the Letters of Credit issued by such Issuing Lender. Each Issuing Lender will provide to the Administrative Agent promptly upon request a summary report of the nature and extent of LOC Obligations
then outstanding with respect to Letters of Credit issued by such Issuing Lender. 
 (c) Participations. Each Lender upon
issuance of a Letter of Credit (or, in the case of the Existing Letters of Credit, upon the Closing Date) shall be deemed to have purchased without recourse a risk participation from the applicable Issuing Lender in such Letter of Credit and the
obligations arising thereunder and any collateral relating thereto, in each case in an amount equal to its LOC Commitment Percentage of the obligations under such Letter of Credit and shall absolutely, unconditionally and irrevocably assume, as
primary obligor and not as surety, and be obligated to pay to the Issuing Lender therefor and discharge when due, its LOC Commitment Percentage of the obligations arising under such Letter of Credit. Without limiting the scope and nature of each
Lender’s participation in any Letter of Credit, to the extent that the Issuing Lender of such Letter of Credit has not been reimbursed as required hereunder or under any LOC Document, each such Lender shall pay to such Issuing Lender its LOC
Commitment Percentage of such unreimbursed drawing in same day funds on the day of notification by such Issuing Lender of an unreimbursed drawing pursuant to the provisions of subsection (d) hereof. The obligation of each Lender to so reimburse
an Issuing Lender shall be absolute and unconditional and shall not be affected by the occurrence of a Default, an Event of Default or any other occurrence or event. Any such reimbursement shall not relieve or otherwise impair the obligation of the
Borrower to reimburse such Issuing Lender under any Letter of Credit, together with interest as hereinafter provided. 
 (d)
Reimbursement. In the event of any drawing under any Letter of Credit, the applicable Issuing Lender will promptly notify the Borrower and the Administrative Agent. The Borrower shall reimburse the applicable Issuing Lender on the day of
drawing under any Letter of Credit issued by such Issuing Lender in (x) the applicable Foreign Currency of the relevant 

  
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Letter of Credit with respect to which the drawing was made to the extent directly reimbursed by the Borrower or (y) in Dollars to the extent funded with the proceeds of a Revolving Loan
obtained hereunder or otherwise and, in each case, in same day funds as provided herein or in the LOC Documents. If the Borrower shall fail to reimburse an Issuing Lender as provided herein, the unreimbursed amount of such drawing shall bear
interest at a per annum rate equal to the Alternate Base Rate plus the Applicable Percentage plus two percent (2%). Unless the Borrower shall immediately notify the applicable Issuing Lender and the Administrative Agent of its intent to
otherwise reimburse such Issuing Lender, the Borrower shall be deemed to have requested a Revolving Loan borrowing comprised entirely of Alternate Base Rate Loans in the amount of the drawing as provided in subsection (e) hereof, the proceeds
of which will be used to satisfy the reimbursement obligations. The Borrower’s reimbursement obligations hereunder shall be absolute and unconditional under all circumstances irrespective of any rights of set-off, counterclaim or defense to
payment the Borrower may claim or have against any Issuing Lender, the Administrative Agent, the Lenders, the beneficiary of the Letter of Credit drawn upon or any other Person, including without limitation any defense based on any failure of the
Borrower to receive consideration or the legality, validity, regularity or unenforceability of the Letter of Credit. Each Issuing Lender will promptly notify the Lenders of the amount of any unreimbursed drawing in respect of any Letter of Credit
issued by such Issuing Lender and each Lender shall promptly pay to the Administrative Agent for the account of such Issuing Lender in Dollars and in immediately available funds, the amount of such Lender’s LOC Commitment Percentage of such
unreimbursed drawing. Such payment shall be made on the day such notice is received by such Lender from such Issuing Lender if such notice is received at or before 2:00 P.M., otherwise such payment shall be made at or before 12:00 noon on
the Business Day next succeeding the day such notice is received. If such Lender does not pay such amount to such Issuing Lender in full upon such request, such Lender shall, on demand, pay to the Administrative Agent for the account of such Issuing
Lender interest on the unpaid amount during the period from the date of such drawing until such Lender pays such amount to such Issuing Lender in full at a rate per annum equal to, if paid within two (2) Business Days of the date of drawing,
the Federal Funds Rate and thereafter at a rate equal to the Alternate Base Rate. Each Lender’s obligation to make such payment to an Issuing Lender, and the right of an Issuing Lender to receive the same, shall be absolute and unconditional,
shall not be affected by any circumstance whatsoever and without regard to the termination of this Credit Agreement or the Commitments hereunder, the existence of a Default or Event of Default or the acceleration of the Credit Party Obligations
hereunder and shall be made without any offset, abatement, withholding or reduction whatsoever. 
 (e) Repayment with
Loans. On any day on which the Borrower shall have requested, or been deemed to have requested a Revolving Loan to reimburse a drawing under a Letter of Credit, the Administrative Agent shall give notice to the Lenders that a Revolving Loan has
been requested or deemed requested in connection with a drawing under a Letter of Credit, in which case a Revolving Loan borrowing comprised entirely of Alternate Base Rate Loans (each such borrowing, a “Mandatory Borrowing”) shall
be immediately made (without giving effect to any termination of the Commitments pursuant to Section 7.2) pro rata based on each Lender’s respective Commitment Percentage (determined before giving effect to any termination of
the Commitments pursuant to Section 7.2) and the proceeds thereof shall be paid directly to the applicable Issuing Lender for application to the respective LOC Obligations. Each Lender 

  
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hereby irrevocably agrees to make such Revolving Loans immediately upon any such request or deemed request on account of each Mandatory Borrowing in the Dollar Amount and in the manner specified
in the preceding sentence and on the same such date notwithstanding (i) the amount of Mandatory Borrowing may not comply with the minimum amount for borrowings of Loans otherwise required hereunder, (ii) whether any conditions
specified in Section 4.2 are then satisfied, (iii) whether a Default or an Event of Default then exists, (iv) failure for any such request or deemed request for a Revolving Loan to be made by the time otherwise required in
Section 2.1(b)(i), (v) the date of such Mandatory Borrowing, or (vi) any reduction in the Aggregate Revolving Committed Amount after any such Letter of Credit may have been drawn upon. In the event that any Mandatory Borrowing cannot
for any reason be made on the date otherwise required above (including, without limitation, as a result of the commencement of a proceeding under the Bankruptcy Code), then each such Lender hereby agrees that it shall forthwith fund (as of the date
the Mandatory Borrowing would otherwise have occurred, but adjusted for any payments received from the Borrower on or after such date and prior to such purchase) its Participation Interests in the LOC Obligations; provided, further,
that in the event any Lender shall fail to fund its Participation Interest on the day the Mandatory Borrowing would otherwise have occurred, then the amount of such Lender’s unfunded Participation Interest therein shall bear interest payable by
such Lender to the Issuing Lender upon demand, at the rate equal to, if paid within two (2) Business Days of such date, the Federal Funds Rate, and thereafter at a rate equal to the Alternate Base Rate. 

(f) Modification, Extension. The issuance of any supplement, modification, amendment, renewal, or extension to any Letter of
Credit shall, for purposes hereof, be treated in all respects the same as the issuance of a new Letter of Credit hereunder. 

(g) Letter of Credit Governing Law. Unless otherwise expressly agreed by an Issuing Lender and the Borrower when a Letter of
Credit is issued, the rules of the “International Standby Practices 1998” published by the Institute of International Banking Law & Practice (or such later version thereof as may be in effect at the time of issuance) shall apply
to each Letter of Credit. 
 (h) Reimbursement Payments. All payments made to an Issuing Lender to reimburse such Issuing
Lender for any drawing under a Letter of Credit issued by such Issuing Lender from (x) the Borrower, shall be made in the applicable Foreign Currency of the relevant Letter of Credit with respect to which the drawing was made or (y) the
Lenders, shall be made in Dollars (based upon the Dollar Amount of the applicable payment); provided that in each case the Borrower shall be liable for any currency exchange loss related to such payments and, absent demonstrable error, shall
promptly pay the applicable Issuing Lender, upon receipt of notice thereof, the amount of any such loss. 
 (i) Conflict with
LOC Documents. In the event of any conflict between the terms hereof and any LOC Documents, the terms hereof shall control. 

(j) Domestic and Discretionary Issuing Lenders. In addition to those Lenders specified in Section 2.4(a) hereof, any Lender
with a Revolving Commitment (in such capacity, a “Domestic Issuing Lender”) may from time to time, at the written request of the Borrower (with 

  
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a copy to the Administrative Agent) and with the consent of the Administrative Agent, and in such Lender’s sole discretion, agree to issue one or more Domestic Letters of Credit for the
account of the Borrower on the same terms and conditions in all respects as are applicable to the Letters of Credit issued by the other Issuing Lenders hereunder by executing and delivering to the Administrative Agent a written agreement to such
effect, among (and in form and substance satisfactory to) the Borrower, the Administrative Agent and such Domestic Issuing Lender. Any Lender with a Revolving Commitment (in such capacity, a “Discretionary Issuing Lender”) may from
time to time, at the written request of the Borrower (with a copy to the Administrative Agent) and with the consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed), and in such Lender’s sole discretion,
agree to issue one or more Foreign Letters of Credit for the account of the Borrower on the same terms and conditions in all respects as are applicable to the Letters of Credit issued by the other Issuing Lenders hereunder by executing and
delivering to the Administrative Agent a written agreement to such effect, among (and in form and substance satisfactory to) the Borrower, the Administrative Agent and such Discretionary Issuing Lender. With respect to each of the Letters of Credit
issued (or to be issued) thereby, each of the Issuing Lenders shall have all of the same rights and obligations under and in respect of this Agreement and the other Credit Documents, and shall be entitled to all of the same benefits (including,
without limitation, the rights, obligations and benefits set forth in Sections 2.4, 2.19 and 10.5), as are afforded to all of the Issuing Lenders hereunder and thereunder. The Administrative Agent shall promptly notify each of the Lenders
with a Revolving Commitment of the appointment of any Issuing Lender after the Closing Date. Each Issuing Lender shall provide to the Administrative Agent, on a monthly basis, a report that details the activity with respect to each Letter of Credit
issued by such Issuing Lender (including an indication of the maximum amount then in effect with respect to each such Letter of Credit). 
  

	 	2.5	Additional Loans. 

Subject to the terms and conditions set forth herein, so long as no Default or Event of Default shall have occurred and be continuing, the
Borrower shall have the right during the period from the Closing Date until the date one Business Day prior to the Maturity Date, to incur additional Indebtedness (the “Additional Loans”) under this Credit Agreement in the form of
one or more increases to the Aggregate Revolving Committed Amount by an aggregate amount of up to $500,000,000. The following terms and conditions shall apply to all Additional Loans: (a) the loans made under any such Additional Loan shall
constitute Credit Party Obligations, (b) such Additional Loan shall have the same terms (including interest rate) as the existing Loans, (c) any such Additional Loan shall be entitled to the same voting rights as the existing Loans and
shall be entitled to receive proceeds of prepayments on the same basis as comparable Loans, (d) any such Additional Loan shall be obtained from existing Lenders or from other banks, financial institutions or investment funds, in each case in
accordance with the terms set forth below, (e) such Additional Loan shall be in a minimum principal Dollar Amount (determined as of the most recent Revaluation Date) of $50,000,000 and integral multiples of $5,000,000 in excess thereof,
(f) the proceeds of any Additional Loan will be used in accordance with Section 3.13, (g) the Borrower shall execute such promissory notes as are necessary and requested by the Lenders to reflect the Additional Loans and (h) the
conditions to Extensions of Credit in Section 4.2 shall have been satisfied. The Borrower may invite existing Lenders or other banks, financial institutions and investment funds that are not Lenders and that are

  
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reasonably acceptable to the Administrative Agent and that would satisfy the same criteria that would be required for such bank, financial institution or investment fund to be an “Eligible
Assignee” to join this Credit Agreement as Lenders to provide any Additional Loans, provided (i) no existing Lender shall have any obligation to provide all or any portion of any such Additional Loan and (ii) such other banks,
financial institutions and investment funds that are not existing Lenders shall enter into such joinder agreements to give effect thereto as the Administrative Agent and the Borrower may reasonably request and shall thereafter be deemed to be
Lenders. The existing Lenders shall make such assignments (which assignments shall not be subject to the requirements set forth in Sections 10.6(c) or 10.6(e)) of the outstanding Loans (excluding Competitive Loans) and Participation Interests
to the Lenders providing any Additional Loan so that, after giving effect to such assignments, each Lender (including the Lenders providing the Additional Loans) will hold Loans and Participation Interests equal to its Commitment Percentage of all
outstanding Loans and LOC Obligations (and accordingly the Borrower shall pay any additional amounts required pursuant to Section 2.17). The Administrative Agent is authorized to enter into, on behalf of the Lenders, any amendment to this
Credit Agreement or any other Credit Document consistent with this Section 2.5 as may be necessary to incorporate the terms of any Additional Loan. 
  

	 	2.6	Default Rate. 

 Upon the
occurrence, and during the continuance, of an Event of Default, the overdue principal of and, to the extent permitted by law, interest on the Loans, LOC Obligations and any other amounts owing hereunder, under the other Credit Documents or under the
Fee Letter shall, upon the election of the Required Lenders (except with respect to an Event of Default occurring under Section 7.1(e), in which case such interest rate increase shall be immediate) bear interest, payable on demand, at a per
annum rate 2% greater than the interest rate which would otherwise be applicable (or if no rate is applicable, whether in respect of interest, fees or other amounts, then 2% greater than the Alternate Base Rate plus the Applicable
Percentage). 
  

	 	2.7	Extension and Conversion. 

The Borrower shall have the option, on any Business Day, to extend existing Loans into a subsequent permissible Interest Period or to
convert Loans into Loans of another Type; provided, however, that (a) except as expressly provided otherwise in this Credit Agreement, LIBOR Rate Loans may be converted into Alternate Base Rate Loans only on the last day of the
Interest Period applicable thereto, (b) LIBOR Rate Loans may be extended, and Alternate Base Rate Loans may be converted into LIBOR Rate Loans, only so long as no Default or Event of Default then exists or would otherwise result therefrom, and
(c) Loans extended as, or converted into, LIBOR Rate Loans shall be subject to the terms of the definition of “Interest Period” set forth in Section 1.1 and shall be in such minimum amounts as provided in
Section 2.1(b)(ii). Any request for extension or conversion of a LIBOR Rate Loan which shall fail to specify an Interest Period shall be deemed to be a request for an Interest Period of one month. Each such extension or conversion shall be
effected by the Borrower by giving a Notice of Extension/Conversion (or telephone notice promptly confirmed in writing) to the Administrative Agent prior to 11:00 A.M. on the Business Day of, in the case of the conversion of a LIBOR Rate Loan
into a Alternate Base Rate Loan, and on the third Business Day prior to, in the case of the extension of a LIBOR 

  
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Rate Loan as, or conversion of a Alternate Base Rate Loan into, a LIBOR Rate Loan, the date of the proposed extension or conversion, specifying (i) the date of the proposed extension or
conversion, (ii) the Loans to be so extended or converted, (iii) the Types of Loans into which such Loans are to be converted and, if appropriate and (iv) the applicable Interest Periods with respect thereto. Each request for
extension or conversion shall be irrevocable and shall constitute a representation and warranty by the Borrower of the matters specified in Section 4.2 (b) and (c). In the event the Borrower fails to request extension or conversion of any
LIBOR Rate Loan in accordance with this Section, or any such conversion or extension is not permitted or required by this Section, then such LIBOR Rate Loan shall be converted to an Alternate Base Rate Loan at the end of the Interest Period
applicable thereto. The Administrative Agent shall give each Lender notice as promptly as practicable of any such proposed extension or conversion affecting any Loan. 
 Unless otherwise agreed to by the Required Lenders, upon the occurrence and during the continuance of any Default or Event of Default, all Foreign Currency Loans then outstanding shall be redenominated
into Dollars (based on the Dollar Amount of such Foreign Currency Loans on the date of redenomination) on the last day of the then current Interest Periods of such Foreign Currency Loans; provided that in each case the Borrower shall be
liable for any currency exchange loss related to such payments and shall promptly pay the Lenders upon receipt of notice thereof the amount of any such loss. 
  

	 	2.8	Prepayments. 

 (a)
Voluntary Repayments. Revolving Loans, Swingline Loans and, with the consent of the applicable Competitive Loan Lender or Lenders, Competitive Loans, may be repaid in whole or in part without premium or penalty; provided that
(i) LIBOR Rate Loans may be repaid only upon three (3) Business Days’ prior written notice to the Administrative Agent, and Alternate Base Rate Loans may be repaid only upon at least one (1) Business Day’s prior written
notice to the Administrative Agent, (ii) repayments of LIBOR Rate Loans must be accompanied by payment of any amounts owing under Section 2.17, and (iii) partial repayments of the LIBOR Rate Loans shall be in minimum principal Dollar
Amount (determined as of the most recent Revaluation Date) of $5,000,000, and in integral multiples of $1,000,000 in excess thereof and partial repayments of Alternate Base Rate Loans shall be in minimum principal Dollar Amount (determined as of the
most recent Revaluation Date) of $1,000,000, and in integral multiples of $250,000 in excess thereof. 
 (b) Mandatory
Prepayments. If at any time, the aggregate principal Dollar Amount (determined as of the most recent Revaluation Date) of outstanding Revolving Loans plus Swingline Loans plus LOC Obligations plus Competitive Loans shall
exceed the Aggregate Revolving Committed Amount, the Borrower shall immediately (or, if such excess is solely due to a currency fluctuation, within two Business Days) make payment on the Loans and/or cash collateralize the LOC Obligations in an
amount sufficient to eliminate the deficiency. 
 (c) Application. Unless otherwise specified by the Borrower, voluntary
repayments and mandatory prepayments made hereunder shall be applied first to Alternate Base Rate Loans, then to LIBOR Rate Loans in direct order of Interest Period maturities, second to Competitive

  
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Loans in direct order of Interest Period Maturities and third (after all Loans have been repaid) to a cash collateral account in respect of LOC Obligations. Amounts repaid on the Swingline
Loan and the Revolving Loans may be reborrowed in accordance with the provisions hereof. 
 (d) Hedging Obligations
Unaffected. Any repayment or prepayment made pursuant to this Section 2.8 shall not affect the Borrower’s obligation to continue to make payments under any Hedging Agreement with a Hedging Agreement Provider, which shall remain in full
force and effect notwithstanding such repayment or prepayment, subject to the terms of such Hedging Agreement. 
  

	 	2.9	Termination and Reduction of Commitments 

 (a) Voluntary Reductions. The Commitments may be terminated or permanently reduced by the Borrower in whole or in part upon three (3) Business Days’ prior written notice to the
Administrative Agent; provided that (i) after giving effect to any voluntary reduction, the aggregate principal Dollar Amount (determined as of the most recent Revaluation Date) of Loans plus LOC Obligations outstanding shall not exceed
the Aggregate Revolving Committed Amount, as reduced, and (ii) partial reductions shall be in minimum principal Dollar Amounts (determined as of the most recent Revaluation Date) of $5,000,000, and in integral multiples of $1,000,000 in excess
thereof; provided that no such reduction or termination shall be permitted if after giving effect thereto and to any prepayments of the Revolving Loans made on the effective date thereof, the sum of the then outstanding aggregate principal
amount of the Revolving Loans plus Swingline Loans plus LOC Obligations plus Competitive Loans would exceed the Aggregate Revolving Committed Amount. 
 (b) Mandatory Reduction. The Revolving Commitments, the LOC Commitments and the Swingline Commitment shall automatically terminate on the Maturity Date. 

 

	 	2.10	Fees. 

 (a) Facility
Fee. The Borrower shall pay to the Administrative Agent for the ratable benefit of the Lenders holding Commitments, a facility fee (the “Facility Fee”) equal to the Applicable Percentage per annum times the actual daily
amount of Aggregate Revolving Committed Amount (or, if the Commitments have terminated, on the outstanding amount of all Revolving Loans, Swingline Loans and LOC Obligations), regardless of usage. The Facility Fee shall accrue at all times during
the Commitment Period (and thereafter so long as any Revolving Loans, Swingline Loans or LOC Obligations remain outstanding), including at any time during which one or more of the conditions in Section 4 is not met, and shall be due and payable
quarterly in arrears on the 15th day following the last day of each calendar quarter for the prior calendar quarter, commencing with the first such date to occur after the Closing Date, and on the Maturity Date (and, if applicable, thereafter
on demand). The Facility Fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Percentage during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Percentage separately for
each period during such quarter that such Applicable Percentage was in effect. 

  
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 (b) Letter of Credit Fee. In consideration of the LOC Commitments, the Borrower
agrees to pay to each Issuing Lender a fee in Dollars (the “Letter of Credit Fee”) equal to the Applicable Percentage per annum on the average daily maximum Dollar Amount available to be drawn under each Letter of Credit issued by
such Issuing Lender from the date of issuance to the date of expiration or termination. The Issuing Lender shall promptly pay over to the Administrative Agent for the ratable benefit of the Lenders (including the Issuing Lender) the Letter of Credit
Fee. The Letter of Credit Fee shall be payable quarterly in arrears on the 15th day following the last day of each calendar quarter for the prior calendar quarter. 
 (c) Issuing Lender Fees. In addition to the Letter of Credit Fees payable pursuant to subsection (b) above, the Borrower shall pay to each Issuing Lender for its own account without sharing by
the other Lenders (i) a fronting fee of one-tenth of one percent (0.10%) per annum on the average daily maximum amount available to be drawn under each Letter of Credit issued by such Issuing Lender and (ii) the reasonable and
customary charges from time to time of an Issuing Lender with respect to the amendment, transfer, administration, cancellation and conversion of, and drawings under, such Letters of Credit (collectively, the “Issuing Lender Fees”)
The Issuing Lender Fees shall be payable to the respective Issuing Lenders quarterly in arrears on the 15th day following the last day of each calendar quarter for the prior calendar quarter. 

(d) Administrative Agent’s Fee. The Borrower agrees to pay to the Administrative Agent the annual administrative agent fee as
described in the Fee Letter. 
  

	 	2.11	Computation of Interest and Fees. 

 (a) Interest payable hereunder with respect to Alternate Base Rate Loans based on the Prime Rate and with respect to LIBOR Rate Loans denominated in Pounds Sterling shall be calculated on the basis of a
year of 365 days (or 366 days, as applicable) for the actual days elapsed. All other fees, interest and all other amounts payable hereunder shall be calculated on the basis of a 360 day year for the actual days elapsed. The
Administrative Agent shall as soon as practicable notify the Borrower and the Lenders of each determination of a LIBOR Rate on the Business Day of the determination thereof. Any change in the interest rate on a Loan resulting from a change in the
Alternate Base Rate shall become effective as of the opening of business on the day on which such change in the Alternate Base Rate shall become effective. The Administrative Agent shall as soon as practicable notify the Borrower and the Lenders of
the effective date and the amount of each such change. 
 (b) Each determination of an interest rate by the Administrative Agent
pursuant to any provision of this Credit Agreement shall be conclusive and binding on the Borrower and the Lenders in the absence of manifest error. The Administrative Agent shall, at the request of the Borrower, deliver to the Borrower a statement
showing the computations used by the Administrative Agent in determining any interest rate. 
 (c) The parties understand that
the Applicable Percentage may be determined and/or adjusted from time to time based upon certain financial ratios and/or other information to be provided or certified to the Lenders by the Borrower (the “Borrower Information”). If it is

  
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subsequently determined that any such Borrower Information was incorrect (for whatever reason, including without limitation because of a subsequent restatement of earnings by the Borrower) at the
time it was delivered to the Administrative Agent, and if the applicable interest rate or fees calculated for any period were lower than they should have been had the correct information been timely provided, then, such interest rate and such fees
for such period shall be automatically recalculated using correct Borrower Information. The Administrative Agent shall promptly notify the Borrower in writing of any additional interest and fees due because of such recalculation, and the Borrower
shall pay such additional interest or fees due to the Administrative Agent, for the account of each Lender, within 5 Business Days of receipt of such written notice. Any recalculation of interest or fees required by this provision shall survive
the termination of this Agreement, and this provision shall not in any way limit any of the Administrative Agent’s, any Issuing Lender’s or any Lender’s other rights under this Agreement. 

 

	 	2.12	Pro Rata Treatment and Payments. 

 (a) Each borrowing of Loans and any reduction of the Commitments shall be made pro rata according to the respective Commitment Percentages of the Lenders in the currency in which such amount
is denominated and in such funds as are customary at the place and time of payment for the settlement of international payments in such currency. Without limiting the terms of the preceding sentence, accrued interest on any Loans denominated in a
Foreign Currency shall be payable in such Foreign Currency. Each payment under this Credit Agreement or any Note shall be applied (i) first, to any Fees then due and owing, (ii) second, to interest then due and owing in
respect of the Loans (whether or not evidenced by Notes) of the Borrower and (iii) third, to principal then due and owing hereunder and under the Loans (whether or not evidenced by Notes) of the Borrower. Each payment on account of the
Facility Fees and the Letter of Credit Fees shall be made pro rata in accordance with the respective amounts due and owing. Each payment (other than voluntary repayments and mandatory prepayments) by the Borrower on account of
principal of and interest on the Loans shall be made pro rata according to the respective amounts due and owing hereunder in the currency in which such amount is denominated and in such funds as are customary at the place and time of
payment for the settlement of international payments in such currency. Without limiting the terms of the preceding sentence, accrued interest on any Loans denominated in a Foreign Currency shall be payable in the same Foreign Currency as such Loan.
Each voluntary repayment and mandatory prepayment on account of principal of the Loans shall be applied in accordance with Section 2.8. The obligation of the Borrower to make each payment on account of such amount in the currency in which such
amount is denominated shall not be discharged or satisfied by any tender, or any recovery pursuant to any judgment, which is expressed in or converted into any other currency, except to the extent such tender or recovery shall result in the actual
receipt by the Administrative Agent of the full amount in the appropriate currency payable hereunder. With respect to Competitive Loans, if the Borrower fails to specify the particular Competitive Loan or Loans as to which any payment or other
amount should be applied and it is not otherwise clear as to the particular Competitive Loan or Loans to which such payment or other amounts relate, or any such payment or other amount is to be applied to Competitive Loans without regard to any such
direction by the Borrower, then each payment or prepayment of principal on Competitive Loans and each payment of interest or other amount on or in respect of Competitive Loans, shall be allocated pro rata among the relevant Competitive Loan Lenders
in accordance with the then outstanding 

  
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amounts of their respective Competitive Loans. All payments (including prepayments) to be made by the Borrower on account of principal, interest and fees shall be made without defense, set-off or
counterclaim (except as provided in Section 2.18(b)) and shall be made to the Administrative Agent for the account of the Lenders at the Administrative Agent’s Office specified in Section 10.2 and (i) in the case of Loans or
other amounts denominated in Dollars, shall be made in Dollars not later than 1:00 P.M. on the date when due and (ii) in the case of Loans or other amounts denominated in a Foreign Currency, unless otherwise specified herein, shall be made
in such Foreign Currency not later than the Applicable Time specified by the Administrative Agent on the date when due. Any payment received after the foregoing deadlines shall be deemed received on the next Business Day. The Administrative Agent
shall distribute such payments to the Lenders entitled thereto promptly upon receipt in like funds as received. If any payment hereunder (other than payments on the LIBOR Rate Loans) becomes due and payable on a day other than a Business Day, such
payment shall be extended to the next succeeding Business Day, and, with respect to payments of principal, interest thereon shall be payable at the then applicable rate during such extension. If any payment on a LIBOR Rate Loan becomes due and
payable on a day other than a Business Day, the maturity thereof shall be extended to the next succeeding Business Day unless the result of such extension would be to extend such payment into another calendar month, in which event such payment shall
be made on the immediately preceding Business Day. 
 (b) Allocation of Payments After Event of Default. Notwithstanding
any other provision of this Credit Agreement to the contrary, after the occurrence and during the continuance of an Event of Default, all amounts collected or received by the Administrative Agent or any Lender on account of the Credit Party
Obligations or any other amounts outstanding under any of the Credit Documents shall be paid over or delivered as follows: 
 FIRST, to the payment of all reasonable out-of-pocket costs and expenses (including without limitation reasonable attorneys’ fees of one outside counsel) of the Administrative Agent in connection
with enforcing the rights of the Lenders under the Credit Documents; 
 SECOND, to payment of any fees owed to
the Administrative Agent; 
 THIRD, to the payment of all reasonable out-of-pocket costs and expenses (including
without limitation, reasonable attorneys’ fees of one outside counsel (absent dissension among the Lenders or the Administrative Agent and the Lenders)) of each of the Lenders in connection with enforcing its rights under the Credit Documents
or otherwise with respect to the Credit Party Obligations owing to such Lender; 
 FOURTH, to the payment of all
of the Credit Party Obligations consisting of accrued fees and interest in respect of Swingline Loans; 
 FIFTH,
to the payment of all of the other Credit Party Obligations consisting of accrued fees and interest (including, without limitation, accrued fees and interest arising under any Hedging Agreement with a Hedging Agreement Provider); 

  
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 SIXTH, to the payment of the outstanding principal amount of the Credit
Party Obligations in respect of Swingline Loans; 
 SEVENTH, to the payment of the outstanding principal amount
of the other Credit Party Obligations (including, without limitation, the payment or cash collateralization of the outstanding LOC Obligations, and including with respect to any Hedging Agreement with a Hedging Agreement Provider, any breakage,
termination or other payments due under such Hedging Agreement with a Hedging Agreement Provider and any interest accrued thereon); 
 EIGHTH, to all other Credit Party Obligations and other obligations which shall have become due and payable under the Credit Documents or otherwise and not repaid pursuant to clauses “FIRST”
through “SEVENTH” above; and 
 NINTH, to the payment of the surplus, if any, to whomever may be
lawfully entitled to receive such surplus. 
 In carrying out the foregoing, (i) amounts received shall be applied in the
numerical order provided until exhausted prior to application to the next succeeding category and (ii) each of the Lenders and/or Hedging Agreement Providers shall receive an amount equal to its pro rata share (based on the proportion that the
then outstanding Loans and LOC Obligations held by such Lender or the outstanding obligations payable to such Hedging Agreement Provider bears to the aggregate then outstanding Loans, LOC Obligations and obligations payable under all Hedging
Agreements with a Hedging Agreement Provider) of amounts available to be applied pursuant to clauses “THIRD”, “FIFTH”, “SEVENTH” and “EIGHTH” above. 

 

	 	2.13	Non-Receipt of Funds by the Administrative Agent. 

 (a) Unless the Administrative Agent shall have been notified in writing by a Lender prior to the date a LIBOR Rate Loan is to be made (or prior to 2:00 p.m. in the case of an Alternate Base Rate Loan) by
such Lender (which notice shall be effective upon receipt) that such Lender does not intend to make the proceeds of such Loan available to the Administrative Agent, the Administrative Agent may assume that such Lender has made such proceeds
available to the Administrative Agent on such date, and the Administrative Agent may in reliance upon such assumption (but shall not be required to) make available to the Borrower a corresponding amount. If such corresponding amount is not in fact
made available to the Administrative Agent, the Administrative Agent shall be able to recover such corresponding amount from such Lender. If such Lender does not pay such corresponding amount forthwith upon the Administrative Agent’s demand
therefor, the Administrative Agent will promptly notify the Borrower, and the Borrower shall immediately pay such corresponding amount to the Administrative Agent and any such payment by the Borrower shall not constitute a waiver of any right or
remedy the Borrower may have with respect to any such Lender. The Administrative Agent shall also be entitled to recover from the Lender or the Borrower, as the case may be, interest on such corresponding amount in respect of each day from the date
such corresponding amount was made available by the Administrative Agent to the Borrower to the date such corresponding 

  
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amount is recovered by the Administrative Agent at a per annum rate equal to (i) from the Borrower at the applicable rate for the applicable borrowing pursuant to the Notice of Borrowing and
(ii) from a Lender at the Federal Funds Rate. 
 (b) Unless the Administrative Agent shall have been notified in writing by
the Borrower, prior to the date on which any payment is due from it hereunder (which notice shall be effective upon receipt) that the Borrower does not intend to make such payment, the Administrative Agent may assume that such Borrower has made such
payment when due, and the Administrative Agent may in reliance upon such assumption (but shall not be required to) make available to each Lender on such payment date an amount equal to the portion of such assumed payment to which such Lender is
entitled hereunder, and if the Borrower has not in fact made such payment to the Administrative Agent, such Lender shall, on demand, repay to the Administrative Agent the amount made available to such Lender. If such amount is repaid to the
Administrative Agent on a date after the date such amount was made available to such Lender, such Lender shall pay to the Administrative Agent on demand interest on such amount in respect of each day from the date such amount was made available by
the Administrative Agent at a per annum rate equal to, if repaid to the Administrative Agent within two (2) days from the date such amount was made available by the Administrative Agent, the Federal Funds Rate and thereafter at a rate equal to
the Alternate Base Rate. 
 (c) A certificate of the Administrative Agent submitted to the Borrower or any Lender with respect
to any amount owing under this Section 2.13 shall be conclusive in the absence of manifest error. 
  

	 	2.14	Inability to Determine Interest Rate. 

 Notwithstanding any other provision of this Credit Agreement, if (a) the Administrative Agent shall reasonably determine (which determination shall be conclusive and binding absent manifest error)
that, by reason of circumstances affecting the relevant market, reasonable and adequate means do not exist for ascertaining LIBOR for such Interest Period, or (b) the Required Lenders shall reasonably determine (which determination shall be
conclusive and binding absent manifest error) that the LIBOR Rate does not adequately and fairly reflect the cost to such Lenders of funding LIBOR Rate Loans that the Borrower has requested be outstanding as a LIBOR tranche during such Interest
Period, the Administrative Agent shall forthwith give telephone notice of such determination, confirmed in writing, to the Borrower, and the Lenders at least two Business Days prior to the first day of such Interest Period. If such notice is given
(a) any Foreign Currency Loans requested to be made on the first day of such Interest Period shall be made, at the sole option of the Borrower, in Dollars as Alternate Base Rate Loans or such request shall be cancelled, (b) any affected
Foreign Currency Loans that were to have been converted on the first day of such Interest Period to or continued as LIBOR Rate Loans shall be converted to or continued, at the sole option of the Borrower, as Alternate Base Rate Loans, (c) any
affected LIBOR Rate Loans requested to be made on the first day of such Interest Period shall be made, at the sole option of the Borrower, in Dollars as Alternate Base Rate Loans and (d) any affected Loans that were requested to be converted
into or continued as LIBOR Rate Loans shall remain as or be converted into Alternate Base Rate Loans. Until any such notice has 

  
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been withdrawn by the Administrative Agent, no further Loans shall be made as, continued as, or converted into, LIBOR Rate Loans for the Interest Periods so affected. 

 

	 	2.15	Illegality. 

 (a)
Notwithstanding any other provision of this Credit Agreement, if any Change in Law shall make it unlawful for such Lender or its U.S. LIBOR Lending Office or Foreign Currency Lending Office to make or maintain LIBOR Rate Loans as contemplated by
this Credit Agreement or to obtain in the interbank eurodollar market through its U.S. LIBOR Lending Office or Foreign Currency Lending Office the funds with which to make such Loans, (a) such Lender shall promptly notify the Administrative
Agent and the Borrower thereof, (b) the commitment of such Lender hereunder to make LIBOR Rate Loans or continue LIBOR Rate Loans as such shall forthwith be suspended until the Administrative Agent shall give notice that the condition or
situation which gave rise to the suspension shall no longer exist, and (c) such Lender’s Loans then outstanding as LIBOR Rate Loans, if any, shall be converted on the last day of the Interest Period for such Loans or within such earlier
period as required by law to Alternate Base Rate Loans denominated in Dollars. The Borrower hereby agrees promptly to pay any Lender, upon its demand, any additional amounts necessary to compensate such Lender for actual and direct costs (but not
including anticipated profits) reasonably incurred by such Lender including, but not limited to, any interest or fees payable by such Lender to lenders of funds obtained by it in order to make or maintain its LIBOR Rate Loans hereunder. A
certificate as to any additional amounts payable pursuant to this Section submitted by such Lender, through the Administrative Agent, to the Borrower shall be conclusive in the absence of manifest error. Each Lender agrees to use reasonable efforts
(including reasonable efforts to change its LIBOR Lending Office) to avoid or to minimize any amounts which may otherwise be payable pursuant to this Section; provided, however, that such efforts shall not cause the imposition on such
Lender of any additional costs or legal or regulatory burdens deemed by such Lender in its sole discretion to be material. Each Lender agrees to use reasonable efforts (including reasonable efforts to change its U.S. LIBOR Lending Office or Foreign
Currency LIBOR Lending Office) to avoid or to minimize any amounts which may otherwise be payable pursuant to this Section; provided, however, that such efforts shall not cause the imposition on such Lender of any additional costs or
legal or regulatory burdens deemed by such Lender in its sole discretion to be material. 
 (b) Notwithstanding any other
provision of this Credit Agreement, if there shall have occurred any change in national or international financial, political or economic conditions (including the imposition of or any change in exchange controls) or currency exchange rates which
would make it unlawful or impossible for any Lender to make Loans denominated in an applicable Foreign Currency to the Borrower, as contemplated by this Credit Agreement, (i) such Lender shall promptly notify the Administrative Agent and the
Borrower thereof, (ii) the commitment of such Lender hereunder to make such Foreign Currency Loans shall forthwith be suspended until the Administrative Agent shall give notice that the condition or situation which gave rise to the suspension
shall no longer exist, and (iii) such Lender’s Loans then outstanding as such Foreign Currency Loans, if any, shall be, at the sole option of the Borrower, on the last day of the Interest Period for such Loans or within such earlier period
as required by law, (A) converted to Alternate Base Rate Loans denominated in Dollars or (B) prepaid. The 

  
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Borrower hereby agrees promptly to pay any such Lender, upon its demand, any additional amounts necessary to compensate the Lender for actual and direct costs (but not including anticipated
profits) reasonably incurred by such Lender in making any repayment in accordance with this Section, attributable to the amount of any interest or fees payable by such Lender to lenders of funds obtained by it in order to make or maintain its
applicable Foreign Currency Loans hereunder, as provided in Section 2.16. A certificate as to any additional amounts payable pursuant to this Section submitted by the affected Lender, through the Administrative Agent, to the Borrower shall be
conclusive in the absence of manifest error. Each Lender agrees to use reasonable efforts to avoid or to minimize any amounts which may otherwise be payable pursuant to this Section; provided, however, that such efforts shall not cause
the imposition on such Lender of any additional costs or legal or regulatory burdens deemed by such Lender in its sole discretion to be material. 
  

	 	2.16	Requirements of Law. 

 (a)
If any Change in Law made subsequent to the date hereof, or in the case of a Lender that is an assignee or transferee of an interest under this Credit Agreement, made subsequent to the date of such assignment or transfer (except to the extent the
assigning or transferring Lender was entitled to benefits under this Section 2.16): 
 (i) shall subject
such Lender to any tax of any kind whatsoever with respect to any LIBOR Rate Loan made by it, or change the basis of taxation of payments to such Lender in respect thereof (except for changes in the rate of tax on the net income of such Lender or
tax imposed in lieu of net income taxes); 
 (ii) shall impose, modify or hold applicable any reserve, special
deposit, compulsory loan or similar requirement against assets held by, deposits or other liabilities in or for the account of, advances, loans or other extensions of credit by, or any other acquisition of funds by, any office of such Lender which
is not otherwise included in the determination of the LIBOR Rate hereunder; or 
 (iii) shall impose on such
Lender any other condition; 
 and the result of any of the foregoing is to increase the cost to such Lender (taking into account all available
tax credits, tax deductions or other tax benefits) of making or maintaining LIBOR Rate Loans or to reduce any amount receivable hereunder or under any Note, then, in any such case, the Borrower shall promptly pay such Lender, upon its demand, any
additional amounts necessary to compensate such Lender for such additional cost or reduced amount receivable which such Lender reasonably deems to be material as determined by such Lender with respect to its LIBOR Rate Loans. A certificate as to any
additional amounts payable pursuant to this Section submitted by such Lender, through the Administrative Agent, to the Borrower shall be presumptive evidence of such additional amount in the absence of manifest error. Each Lender agrees to use
reasonable efforts (including reasonable efforts to change its Applicable Lending Office) to avoid or to minimize any amounts which might otherwise be payable pursuant to this paragraph of this Section; provided, however, that such
efforts shall not cause the imposition on 

  
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such Lender of any additional costs or legal or regulatory burdens deemed by such Lender in its sole discretion to be material. 

(b) If any Lender shall have reasonably determined that any Change in Law regarding capital adequacy or in the interpretation or
application thereof or compliance by such Lender or any corporation controlling such Lender with any request or directive regarding capital adequacy (whether or not having the force of law) from any central bank or Governmental Authority made
subsequent to the date hereof does or shall have the effect of reducing the rate of return on such Lender’s or such corporation’s capital as a consequence of its obligations hereunder to a level below that which such Lender or such
corporation could have achieved but for such adoption, change or compliance (taking into consideration such Lender’s or such corporation’s policies with respect to capital adequacy) by an amount reasonably deemed by such Lender in its sole
discretion to be material, then from time to time, within fifteen (15) days after demand by such Lender, the Borrower shall pay to such Lender such additional amount as shall be certified by such Lender as being required to compensate it for
such reduction. Such a certificate as to any additional amounts payable under this Section submitted by a Lender (which certificate shall include a description of the basis for the computation), through the Administrative Agent, to the Borrower
shall be presumptive evidence of such additional amount in the absence of manifest error. 
 (c) The agreements in this
Section 2.16 shall survive the termination of this Credit Agreement and payment of the Loans and all other amounts payable hereunder. 
 (d) Notwithstanding the foregoing, the Borrower shall not be obligated to make payment to a Lender pursuant to this Section 2.16 in respect of increased costs or a reduction in the rate of return, if
(i) written demand therefor has not been made by such Lender within 180 days from the date on which such Lender determined that any Change in Law has resulted in such increased cost or reduction in rate of return; provided that if the
Change in Law giving rise to such increased costs or reductions is retroactive, then the 180-day period shall be extended to include the retroactive effect thereof or (ii) such increased cost or reduction in rate of return is attributable to
the gross negligence or willful misconduct of the Lender. No Lender shall request that the Borrower pay any additional amount pursuant to this Section 2.16 unless it shall concurrently make similar requests to other borrowers similarly situated
and affected by such Change in Law. 
  

	 	2.17	Indemnity. 

 The Borrower
hereby agrees to indemnify each Lender and to hold such Lender harmless from any actual funding loss or expense which such Lender may sustain or incur as a consequence of (a) default by the Borrower in payment of the principal amount of or
interest on any Loan by such Lender in accordance with the terms hereof, (b) default by the Borrower in accepting a borrowing after the Borrower has given a notice in accordance with the terms hereof, (c) default by the Borrower in making
any repayment, prepayment, continuation or conversion after the Borrower has given a notice in accordance with the terms hereof, and/or (d) the making by the Borrower of a repayment or prepayment of a Loan, or the conversion thereof, on a day
which is not the last day of the Interest Period with respect thereto, in each case including, but 

  
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not limited to, any such loss or expense arising from interest or fees payable by such Lender to lenders of funds obtained by it in order to maintain its Loans hereunder, but excluding lost
profits. A certificate as to any additional amounts payable pursuant to this Section submitted by any Lender, through the Administrative Agent, to the Borrower (which certificate must be delivered to the Administrative Agent within thirty days
following such default, repayment, prepayment or conversion or no such amount shall be owing) shall be conclusive in the absence of manifest error. The agreements in this Section 2.17 shall survive termination of this Credit Agreement and
payment of the Loans and all other amounts payable hereunder. 
  

	 	2.18	Taxes. 

 (a) All payments
made by the Borrower under the Credit Documents will be, except as provided in this Section 2.18, made free and clear of, and without deduction or withholding for, any present or future taxes, levies, imposts, duties, fees, assessments or other
charges of whatever nature now or hereafter imposed by any Governmental Authority or by any political subdivision or taxing authority thereof or therein with respect to such payments (but excluding any tax imposed on or measured by the net income or
profits (including any branch profits tax or alternative minimum tax imposed by the United States and any similar tax imposed by any other jurisdiction) of a Lender as a result of a present or former connection between the Lender and the
jurisdiction of the Governmental Authority imposing such tax or any political subdivision or taxing authority thereof or therein (other than any such connection arising solely from such Lender having executed, delivered or performed its obligations
or received a payment under, or enforced, this Agreement)), and all interest, penalties or similar liabilities with respect thereto (all such non-excluded taxes, levies, imposts, duties, fees, assessments or other charges being referred to
collectively as “Taxes”). If any Taxes are so levied or imposed, the Borrower agrees (i) to deduct or withhold such Taxes and to pay the full amount of such Taxes to the relevant taxing or Government Authority and
(ii) except as provided in Section 2.18(b), to pay such additional amounts as may be necessary so that every payment of all amounts due under any Credit Document, after withholding or deduction for or on account of any Taxes, will not be
less than the amount provided for herein or in such Note. The Borrower will furnish to the Administrative Agent as soon as practicable after the date the payment of any Taxes is due pursuant to applicable law, certified copies (to the extent
reasonably available and required by law) of tax receipts evidencing such payment by the Borrower. The Borrower agrees to indemnify and hold harmless each Lender, and reimburse such Lender upon its written request, for the amount of any Taxes so
levied or imposed and paid by such Lender except as provided in Section 2.18(b). Notwithstanding the foregoing, the Borrower shall not be obligated to make payment to a Lender pursuant to this Section 2.18(a) in respect of penalties,
interest and other similar liabilities attributable to any Taxes, if (i) written demand therefor has not been made by such Lender within 180 days from the date on which such Lender received written notice of imposition of Taxes by the relevant
taxing or Governmental Authority, but only to the extent such penalties, interest and other similar liabilities are attributable to such failure or delay by the Lender in making such written demand, (ii) such penalties, interest and other
similar liabilities have accrued after the Borrower had indemnified or paid an additional amount due pursuant to this Section 2.18(a) or (iii) such penalties, interest and other similar liabilities are attributable to the gross negligence
or willful misconduct of the Lender. After the Lender receives written notice of the imposition of the Taxes which are subject to this Section 2.18(a), such Lender will 

  
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act in good faith to promptly notify the Borrower of its obligations hereunder. No Lender shall request that the Borrower pay any Taxes or any gross-up therefor pursuant to this
Section 2.18(a) unless it shall make similar requests to other borrowers similarly situated and affected by such Taxes. 

(b) Each Lender that is not a United States person (as such term is defined in Section 7701(a)(30) of the Code) (a
“Foreign Lender”) agrees to deliver to the Borrower and the Administrative Agent on or prior to the Closing Date, or in the case of a Lender that is an assignee or transferee of an interest under this Credit Agreement pursuant to
Section 10.6 (unless the respective Lender was already a Lender hereunder immediately prior to such assignment or transfer), on the date of such assignment or transfer to such Lender, (i) if the Lender is a “bank” within the
meaning of Section 881(c)(3)(A) of the Code, two accurate and complete original signed copies of Internal Revenue Service Form W-8BEN or W-8ECI (or successor forms) certifying such Lender’s entitlement to a complete or partial
exemption from United States withholding tax with respect to payments to be made under this Credit Agreement and under any Note, or (ii) if the Lender is not a “bank” within the meaning of Section 881(c)(3)(A) of the Code,
either Internal Revenue Service Form W-8BEN or W-8ECI as set forth in clause (i) above with the certification required in such clause (i), or (x) a certificate substantially in the form of Schedule 2.18 (any such
certificate, a “2.18 Certificate”) and (y) two accurate and complete original signed copies of Internal Revenue Service Form W-8 (or successor form) certifying such Lender’s entitlement to a complete exemption from
United States withholding tax with respect to payments of interest to be made under this Credit Agreement and under any Note. In addition, each Lender agrees that it will deliver upon the Borrower’s request updated versions of the foregoing, as
applicable, whenever the previous certification has become obsolete or inaccurate in any material respect (including as a result of a change in the Lender’s Applicable Lending Office), together with such other forms as may be required in order
to confirm or establish the entitlement of such Lender to a continued exemption from or reduction in United States withholding tax with respect to payments under this Credit Agreement and any Note. Notwithstanding anything to the contrary contained
in Section 2.18(a), but subject to the immediately succeeding sentence, (x) the Borrower shall be entitled, to the extent it is required to do so by law, to deduct or withhold Taxes imposed by the United States (or any political
subdivision or taxing authority thereof or therein) from interest, fees or other amounts payable under any Credit Document for the account of any Lender which is not a United States person (as such term is defined in Section 7701(a)(30) of the
Code) for U.S. Federal income tax purposes to the extent that such Lender has not provided to the Borrower U.S. Internal Revenue Service Forms that establish a complete exemption from such deduction or withholding and (y) the Borrower shall not
be obligated pursuant to Section 2.18(a) hereof to make any additional payments to a Lender or to indemnify any Lender in respect of Taxes imposed by the United States on any payments of interest, fees or other amounts payable under the Credit
Documents (I) if such Lender has not provided to the Borrower the Internal Revenue Service Forms required to be provided to the Borrower pursuant to this Section 2.18(b), (II) to the extent that such Forms do not establish a complete
exemption from withholding of such Taxes or (III) if the imposition of such Taxes is the result of a change in the Lender’s Applicable Lending Office, except to the extent that such Lender was entitled to any such additional payments at the
time of such change or such change was made at the request of the Borrower. Notwithstanding anything to the contrary contained in the preceding sentence or elsewhere in this Section 2.18, the

  
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Borrower agrees to pay additional amounts and to indemnify each Lender in the manner set forth in Section 2.18(a) (without regard to the identity of the jurisdiction requiring the deduction
or withholding) in respect of any amounts deducted or withheld by it as described in the immediately preceding sentence as a result of any changes in any applicable law, treaty, governmental rule, regulation, guideline or order, or in the
interpretation thereof, relating to the deducting or withholding of Taxes that occur after (i) the Closing Date, (ii) in the case of a Lender that changes its Applicable Lending Office, to the extent that such Lender was not entitled to
additional amounts pursuant to Section 2.18(a) at the time of a change in its Applicable Lending Office, the date of such change or (iii) in the case of a Lender that is an assignee or transferee of an interest under this Credit Agreement
other than pursuant to Section 2.20, to the extent that the assigning or transferring Lender was not entitled to additional amounts pursuant to Section 2.18(a) at the time of such assignment or transfer), the date of such assignment or
transfer to such Lender. 
 (c) Each Lender agrees to use reasonable efforts (including reasonable efforts to change its
Applicable Lending Office) to avoid or to minimize any amounts which might otherwise be payable pursuant to this Section; provided, however, that such efforts shall not cause the imposition on such Lender of any additional costs or
legal or regulatory burdens reasonably deemed by such Lender in its sole discretion to be material. 
 (d) If the Borrower pays
any additional amount pursuant to this Section 2.18 with respect to a Lender, such Lender shall use reasonable efforts to obtain a refund of tax or credit against its tax liabilities on account of such payment; provided that such Lender
shall have no obligation to use such reasonable efforts if either (i) it is in an excess foreign tax credit position or (ii) it believes in good faith that claiming a refund or credit would cause adverse tax consequences to it. In the
event that such Lender receives such a refund or credit, such Lender shall pay to the Borrower an amount that such Lender reasonably determines is equal to the net tax benefit obtained by such Lender as a result of such payment by the Borrower. In
the event that no refund or credit is obtained with respect to the Borrower’s payments to such Lender pursuant to this Section 2.18, then such Lender shall upon request provide a certification that such Lender has not received a refund or
credit for such payments. Nothing contained in this Section 2.18 shall require a Lender to disclose or detail the basis of its calculation of the amount of any tax benefit or any other amount or the basis of its determination referred to in the
proviso to the first sentence of this Section 2.18(d) to the Borrower or any other party or to make available its tax return or any other information related to its taxes which it deems confidential. 

(e) The agreements in this Section 2.18 shall survive the termination of this Credit Agreement and the payment of the Loans and all
other amounts payable hereunder. 
  

	 	2.19	Indemnification; Nature of Issuing Lender’s Duties. 

 (a) In addition to its other obligations under Section 2.4, the Borrower hereby agrees to protect, indemnify, pay and hold each Issuing Lender harmless from and against any and all actual claims,
demands, liabilities, damages, losses, costs, charges and expenses (including reasonable attorneys’ fees of one outside counsel (absent dissension among the Issuing Lenders)) that such Issuing Lender may incur or be subject to as a consequence,
direct or indirect, of (i) the 

  
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issuance by such Issuing Lender of any Letter of Credit, except to the extent resulting from the gross negligence or willful misconduct of such Issuing Lender or (ii) the failure of such
Issuing Lender to honor a drawing under a Letter of Credit issued by such Issuing Lender as a result of any act or omission, whether rightful or wrongful, of any present or future de jure or de facto government or governmental authority (all such
acts or omissions, herein called “Government Acts”). 
 (b) As between the Borrower and an Issuing Lender, the
Borrower shall assume all risks of the acts, omissions or misuse of any Letter of Credit issued by such Issuing Lender by the beneficiary thereof. No Issuing Lender shall be responsible for: (i) the form, validity, sufficiency, accuracy,
genuineness or legal effect of any document submitted by any party in connection with the application for and issuance of any Letter of Credit, even if it should in fact prove to be in any or all respects invalid, insufficient, inaccurate,
fraudulent or forged; (ii) the validity or sufficiency of any instrument transferring or assigning or purporting to transfer or assign any Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, that may
prove to be invalid or ineffective for any reason; (iii) failure of the beneficiary of a Letter of Credit to comply fully with conditions required in order to draw upon a Letter of Credit; (iv) errors, omissions, interruptions or delays in
transmission or delivery of any messages, by mail, cable, telegraph, telex or otherwise, whether or not they be in cipher; (v) errors in interpretation of technical terms; (vi) any loss or delay in the transmission or otherwise of any
document required in order to make a drawing under a Letter of Credit or of the proceeds thereof; and (vii) any consequences arising from causes beyond the control of the Issuing Lender, including, without limitation, any Government Acts. None
of the above shall affect, impair, or prevent the vesting of any Issuing Lender’s rights or powers hereunder. 
 (c) In
furtherance and extension and not in limitation of the specific provisions hereinabove set forth, any action taken or omitted by an Issuing Lender, under or in connection with any Letter of Credit or the related certificates, if taken or omitted in
good faith, shall not put such Issuing Lender under any resulting liability to the Borrower. It is the intention of the parties that this Credit Agreement shall be construed and applied to protect and indemnify the Issuing Lenders against any and
all risks involved in the issuance of the Letters of Credit, all of which risks are hereby assumed by the Borrower, including, without limitation, any and all risks of the acts or omissions, whether rightful or wrongful, of any Government Authority.
No Issuing Lender shall, in any way, be liable for any failure by such Issuing Lender or anyone else to pay any drawing under any Letter of Credit as a result of any Government Acts or any other cause beyond the reasonable control of such Issuing
Lender. 
 (d) Nothing in this Section 2.19 is intended to limit the reimbursement obligation of the Borrower contained in
Section 2.4 hereof. The obligations of the Borrower under this Section 2.19 shall survive the termination of this Credit Agreement. No act or omissions of any current or prior beneficiary of a Letter of Credit shall in any way affect or
impair the rights of the Issuing Lender thereof to enforce any right, power or benefit under this Credit Agreement. 
 (e)
Notwithstanding anything to the contrary contained in this Section 2.19, the Borrower shall have no obligation to indemnify any Issuing Lender in respect of any liability 

  
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incurred by such Issuing Lender arising out of the gross negligence or willful misconduct of the Issuing Lender, as determined by a court of competent jurisdiction. 

 

	 	2.20	Replacement of Lenders. 

The Borrower shall be permitted to replace with a financial institution acceptable to the Administrative Agent any Lender (other than the
Lender then acting as Administrative Agent) (each a “Replaced Lender”) that (a) requests reimbursement for amounts owing pursuant to 2.14, 2.15, 2.16 or 2.18(a) or pursuant to an amendment to the Credit Agreement entered
into pursuant to 2.23 or (b) is then in default of its obligation to make Loans hereunder; provided that (i) such replacement does not conflict with any Requirement of Law, (ii) no Event of Default shall have occurred and be
continuing at the time of such replacement, (iii) the replacement financial institution shall purchase, at par, all Loans and other amounts owing to such Replaced Lender on or prior to the date of replacement, (iv) the Borrower shall be
liable to such Replaced Lender under Section 2.17 if any LIBOR Loan owing to such Replaced Lender shall be purchased other than on the last day of the Interest Period relating thereto, (v) the replacement financial institution, if not
already a Lender, shall be reasonably satisfactory to the Administrative Agent, (vi) the Replaced Lender shall be obligated to make such replacement in accordance with the provisions of Section 10.6 (provided that the Borrower shall be
obligated to pay the registration and processing fee referred to therein), (vii) until such time as such replacement shall be consummated, the Borrower shall pay all additional amounts (if any) required pursuant to Section 2.14, 2.15, 2.16
or 2.18(a), as the case may be, (viii) in the case of any such assignment resulting from a claim for compensation under Sections 2.14, 2.15, 2.16 or 2.18, either such assignment will result in a reduction of such compensation or the
replacement Lender shall not have a similar claim for such compensation, and (ix) any such replacement shall not be deemed to be a waiver of any rights that the Borrower, the Administrative Agent or any other Lender shall have against the
Replaced Lender. In the event any Replaced Lender fails to execute the agreements required under Section 10.6 in connection with an assignment pursuant to this Section 2.20 (after two (2) days notice has been given to such Replaced
Lender), such failure will not impair the validity of the removal of such Replaced Lender and the mandatory assignment of such Replaced Lender’s Commitments and outstanding Loans shall nevertheless be effective without the execution by such
Replaced Lender of the assignment documents required under Section 10.6 so long as (i) evidence of proof of receipt by such Replaced Lender of such assignment agreement is available and (ii) such Replaced Lender has been paid in full
in cash on or prior to the effective date of such replacement. A Lender shall not be required to be replaced if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to require such replacement
cease to apply. 
  

	 	2.21	Defaulting Lenders. 

Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a Defaulting Lender, then, until such time as
such Lender is no longer a Defaulting Lender, to the extent permitted by applicable law: 

  
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 (a) Waivers and Amendments. Such Defaulting Lender’s right to approve or
disapprove any amendment, waiver or consent with respect to this Agreement or any other Credit Document shall be restricted as set forth in the definition of Requisite Lenders. 

(b) Defaulting Lender Waterfall. Any payment of principal, interest, Fees or other amounts received by the Administrative Agent
for the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Section 6 or otherwise) or received by the Administrative Agent from a Defaulting Lender pursuant to Section 10.7. shall be applied at such
time or times as may be determined by the Administrative Agent as follows: first, to the payment of any amounts owing by such Defaulting Lender to the Administrative Agent hereunder; second, to the payment on a pro rata basis of any
amounts owing by such Defaulting Lender to any Issuing Lender or the Swingline Lender hereunder; third, to Cash Collateralize the Fronting Exposure of the Issuing Lenders with respect to such Defaulting Lender in accordance with
subsection (e) below; fourth, as the Borrower may request (so long as no Default or Event of Default exists), to the funding of any Loan in respect of which such Defaulting Lender has failed to fund its portion thereof as required by
this Agreement, as determined by the Administrative Agent; fifth, if so determined by the Administrative Agent and the Borrower, to be held in a deposit account and released pro rata in order to (x) satisfy such Defaulting Lender’s
potential future funding obligations with respect to Loans under this Agreement and (y) Cash Collateralize the future Fronting Exposure of the Issuing Lenders with respect to such Defaulting Lender with respect to future Letters of Credit
issued under this Agreement, in accordance with subsection (e) below; sixth, to the payment of any amounts owing to the Lenders, the Issuing Lenders or the Swingline Lender as a result of any judgment of a court of competent jurisdiction
obtained by any Lender, an Issuing Lender or the Swingline Lender against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; seventh, so long as no Event of Default exists, to
the payment of any amounts owing to the Borrower as a result of any judgment of a court of competent jurisdiction obtained by the Borrower against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under
this Agreement; and eighth, to such Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if (x) such payment is a payment of the principal amount of any Revolving Loans or Mandatory
Borrowing owing by such Defaulting Lender under Section 2.4.(e) in respect of Letters of Credit (such amounts “L/C Disbursements”), in respect of which such Defaulting Lender has not fully funded its appropriate share, and
(y) such Revolving Loans were made or the related Letters of Credit were issued at a time when the conditions set forth in Section 4 were satisfied or waived, such payment shall be applied solely to pay the Revolving Loans of, and L/C
Disbursements owed to, all Non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Revolving Loans of, or L/C Disbursements owed to, such Defaulting Lender until such time as all Revolving Loans and funded and
unfunded Participation Interests in LOC Obligations and Swingline Loans are held by the Lenders pro rata in accordance with their respective Commitment Percentages and LOC Commitment Percentages, as applicable (determined without giving effect to
the immediately following subsection (d)). Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or to post Cash Collateral pursuant to this
subsection shall be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto. 

  
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 (c) Certain Fees. 

(i) No Defaulting Lender shall be entitled to receive any Fee payable under Section 2.10(a) for any period during
which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay to such Defaulting Lender any such fee that otherwise would have been required to have been paid to that Defaulting Lender). 

(ii) Each Defaulting Lender shall be entitled to receive the fee payable under Section 2.10(b) for any period during
which that Lender is a Defaulting Lender only to the extent allocable to its Commitment Percentage of the stated amount of Letters of Credit for which it has provided Cash Collateral pursuant to the immediately following subsection (e).

 (iii) With respect to any Fee not required to be paid to any Defaulting Lender pursuant to the immediately
preceding clauses (i) or (ii), the Borrower shall (x) pay to each Non-Defaulting Lender that portion of any such Fee otherwise payable to such Defaulting Lender with respect to such Defaulting Lender’s participation in LOC Obligations
or Swingline Loans that has been reallocated to such Non-Defaulting Lender pursuant to the immediately following subsection (d), (y) pay to each Issuing Lender and Swingline Lender, as applicable, the amount of any such Fee otherwise
payable to such Defaulting Lender to the extent allocable to such Issuing Lender’s or Swingline Lender’s Fronting Exposure to such Defaulting Lender, and (z) not be required to pay the remaining amount of any such Fee. 

(d) Reallocation of Participations to Reduce Fronting Exposure. All or any part of such Defaulting Lender’s participation in
LOC Obligations and Swingline Loans shall be reallocated among the Non-Defaulting Lenders in accordance with their respective Commitment Percentages (determined without regard to such Defaulting Lender’s Commitment) but only to the extent that
(x) the conditions set forth in Section 4 are satisfied at the time of such reallocation (and, unless the Borrower shall have otherwise notified the Administrative Agent at such time, the Borrower shall be deemed to have represented and
warranted that such conditions are satisfied at such time), and (y) such reallocation does not cause the aggregate Revolving Credit Exposure of any Non-Defaulting Lender to exceed such Non-Defaulting Lender’s Commitment. No reallocation
hereunder shall constitute a waiver or release of any claim of any party hereunder against a Defaulting Lender arising from that Lender having become a Defaulting Lender, including any claim of a Non-Defaulting Lender as a result of such
Non-Defaulting Lender’s increased exposure following such reallocation. 
 (e) Cash Collateral, Repayment of Swingline
Loans. 
 (i) If the reallocation described in the immediately preceding subsection (d) above cannot, or
can only partially, be effected, the Borrower shall, without prejudice to any right or remedy available to it hereunder or under law, (x) first, prepay Swingline Loans in an amount equal to the Swingline Lender’s Fronting Exposure and
(y) second, Cash Collateralize the Fronting Exposure of the Issuing Lenders in accordance with the procedures set forth in this subsection. 

  
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 (ii) At any time that there shall exist a Defaulting Lender, within
3 Business Day following the written request of the Administrative Agent or an Issuing Lender (with a copy to the Administrative Agent), the Borrower shall Cash Collateralize the Fronting Exposure of the Issuing Lenders with respect to such
Defaulting Lender (determined after giving effect to the immediately preceding subsection (d) and any Cash Collateral provided by such Defaulting Lender) in an amount not less than the aggregate Fronting Exposure of the Issuing Lenders with
respect to Letters of Credit issued and outstanding at such time. 
 (iii) The Borrower, and to the extent
provided by any Defaulting Lender, such Defaulting Lender, hereby grant to the Administrative Agent, for the benefit of the Issuing Lenders, and agree to maintain, a first priority security interest in all such Cash Collateral as security for the
Defaulting Lenders’ obligation to fund participations in respect of LOC Obligations, to be applied pursuant to the immediately following clause (iv). If at any time the Administrative Agent determines that Cash Collateral is subject to any
right or claim of any Person other than the Administrative Agent and the Issuing Lenders as herein provided, or that the total amount of such Cash Collateral is less than the aggregate Fronting Exposure of the Issuing Lenders with respect to Letters
of Credit issued and outstanding at such time, the Borrower will, promptly upon demand by the Administrative Agent, pay or provide to the Administrative Agent additional Cash Collateral in an amount sufficient to eliminate such deficiency (after
giving effect to any Cash Collateral provided by the Defaulting Lender). 
 (iv) Notwithstanding anything to the
contrary contained in this Agreement, Cash Collateral provided under this Section in respect of Letters of Credit shall be applied to the satisfaction of the Defaulting Lender’s obligation to fund participations in respect of LOC Obligations
(including, as to Cash Collateral provided by a Defaulting Lender, any interest accrued on such obligation) for which the Cash Collateral was so provided, prior to any other application of such property as may otherwise be provided for herein.

 (v) Cash Collateral (or the appropriate portion thereof) provided to reduce the Fronting Exposure of the
Issuing Lenders shall no longer be required to be held as Cash Collateral pursuant to this subsection following (x) the elimination of the applicable Fronting Exposure (including by the termination of Defaulting Lender status of the applicable
Lenders in accordance with the immediately following subsection (f) or the assignment of such Defaulting Lender’s Loans and Commitment in accordance with Section 10.6), or (y) the determination by the Administrative Agent and the
Issuing Lender that there exists excess Cash Collateral; provided that, subject to the immediately preceding subsection (b), the Person providing Cash Collateral and the Issuing Lenders may agree that Cash Collateral shall be held to
support future anticipated Fronting Exposure or other obligations and provided further that to the extent that such Cash Collateral was provided by the Borrower, such Cash Collateral shall remain subject to the security interest
granted pursuant to the Credit Documents. 

  
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 (f) Defaulting Lender Cure. If the Borrower, the Administrative Agent, the Swingline
Lender and the Issuing Lenders agree in writing that a Lender is no longer a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set
forth therein (which may include arrangements with respect to any Cash Collateral), that Lender will, to the extent applicable, purchase at par that portion of outstanding Revolving Loans of the other Lenders or take such other actions as the
Administrative Agent may determine to be necessary to cause the Loans and funded and unfunded Participation Interests in LOC Obligations and Swingline Loans to be held pro rata by the Lenders in accordance with their respective Commitment
Percentages and LOC Commitment Percentages, as applicable (determined without giving effect to the immediately preceding subsection (d)), whereupon such Lender will cease to be a Defaulting Lender; provided that no adjustments will be
made retroactively with respect to fees accrued or payments made by or on behalf of the Borrower while that Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise expressly agreed by the affected
parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender. 

(g) New Swingline Loans/Letters of Credit. So long as any Lender is a Defaulting Lender, (i) the Swingline Lender shall not
be required to fund any Swingline Loans unless it is satisfied that it will have no Fronting Exposure after giving effect to such Swingline Loan and (ii) no Issuing Lender shall be required to issue, extend, renew or increase any Letter of
Credit unless it is satisfied that it will have no Fronting Exposure after giving effect thereto. 
  

	 	2.22	Funds Transfer Disbursements. 

 (a) Generally. The Borrower hereby authorizes the Administrative Agent to disburse the proceeds of any Loan made by the Lenders or any of their Affiliates pursuant to the Credit Documents as
requested by an authorized representative of the Borrower to any of the accounts designated in the Transfer Authorizer Designation Form. The Borrower agrees to be bound by any transfer request: (i) authorized or transmitted by the Borrower; or
(ii) made in the Borrower’s name and accepted by the Administrative Agent in good faith and in compliance with these transfer instructions (and absent gross negligence or willful misconduct as determined by a court of competent
jurisdiction in a final non-appealable judgment), even if not properly authorized by the Borrower. The Borrower further agrees and acknowledges that, absent gross negligence or willful misconduct as determined by a court of competent jurisdiction in
a final non-appealable judgment, the Administrative Agent may rely solely on any bank routing number or identifying bank account number or name provided by the Borrower to effect a wire or funds transfer even if the information provided by the
Borrower identifies a different bank or account holder than named by the Borrower. The Administrative Agent is not obligated or required in any way to take any actions to detect errors in information provided by the Borrower. If the Administrative
Agent takes any actions in an attempt to detect errors in the transmission or content of transfer requests or takes any actions in an attempt to detect unauthorized funds transfer requests, the Borrower agrees that no matter how many times the
Administrative Agent takes these actions the Administrative Agent will not in any situation be liable for failing to take or correctly perform these actions in the future and such actions shall not become any part of the transfer disbursement
procedures authorized under this provision, the Credit Documents, or any 

  
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agreement between the Administrative Agent and the Borrower. The Borrower agrees to notify the Administrative Agent of any errors in the transfer of any funds or of any unauthorized or improperly
authorized transfer requests within fourteen (14) days after the Administrative Agent’s confirmation to the Borrower of such transfer. 
 (b) Funds Transfer. The Administrative Agent will, in its sole discretion, determine the funds transfer system and the means by which each transfer will be made. The Administrative Agent may delay
or refuse to accept a funds transfer request if the transfer would: (i) violate the terms of this authorization, (ii) require use of a bank unacceptable to the Administrative Agent or any Lender or prohibited by any Governmental Authority,
(iii) cause the Administrative Agent or any Lender to violate any Federal Reserve or other regulatory risk control program or guideline or (iv) otherwise cause the Administrative Agent or any Lender to violate any applicable laws or
regulation. 
 (c) Limitation of Liability. None of the Administrative Agent, any Issuing Lender, the Swingline Lender or
any Lender shall be liable to the Borrower or any other parties for (i) errors, acts or failures to act of others, including other entities, banks, communications carriers or clearinghouses, through which the Borrower’s transfers may be
made or information received or transmitted, and no such entity shall be deemed an agent of the Administrative Agent, any Issuing Lender, the Swingline Lender or any Lender, (ii) any loss, liability or delay caused by fires, earthquakes, wars,
civil disturbances, power surges or failures, acts of government, labor disputes, failures in communications networks, legal constraints or other events beyond the control of the Administrative Agent, any Issuing Lender, the Swingline Lender or any
Lender, or (iii) any special, consequential, indirect or punitive damages, and the Borrower and the other Credit Parties shall not be liable to the Administrative Agent, any Issuing Lender, the Swingline Lender or any other Lender for any
special, consequential, indirect or punitive damages, in each case whether or not (x) any claim for these damages is based on tort or contract or (y) the Administrative Agent, any Issuing Lender, the Swingline Lender, any Lender or the
Borrower knew or should have known the likelihood of these damages in any situation. None of the Administrative Agent, any Issuing Lender, the Swingline Lender or any Lender makes any representations or warranties other than those expressly made in
this Agreement. 
  

	 	2.23	Foreign Borrower. 

 The
Company may at any time, upon not less than 15 Business Days’ notice from the Company to the Administrative Agent, request that one Wholly Owned Subsidiary of the Company that is a Foreign Subsidiary organized under the laws of Luxembourg (the
“Foreign Borrower”) be permitted to become a co-borrower hereunder with authority to borrow Loans in Foreign Currencies. The Foreign Borrower shall not be permitted to borrow Loans on the terms and conditions of this Agreement until the
following conditions precedent have been satisfied: 
 (a) the Administrative Agent shall have received a joinder agreement in
form and substance reasonably acceptable to the Administrative Agent pursuant to which the Foreign Borrower joins this Agreement as a Borrower and becomes a party to any other applicable Credit Document, such agreement to be in form and substance
satisfactory to the Administrative Agent; 

  
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 (b) the Administrative Agent shall have received on behalf of the Lenders such supporting
resolutions, incumbency certificates, opinions of counsel and other documents or information (subject to clause (c) below), in form, content and scope reasonably satisfactory to the Administrative Agent, as may be reasonably required by the
Administrative Agent or the Required Lenders, and Notes executed by the Foreign Borrower to the extent any Lenders so require; and 
 (c) if the permitting such Foreign Borrower to be a co-borrower hereunder obligates the Administrative Agent or any Lender to comply with “know your customer” or similar identification
procedures in circumstances where the necessary information is not already available to it, the Borrower shall, promptly upon the request of the Administrative Agent or any Lender, supply such documentation and other evidence as is reasonably
requested by the Administrative Agent or any Lender in order for the Administrative Agent or such Lender to carry out and be satisfied it has complied with the results of all necessary “know your customer” or other similar checks under all
applicable laws and regulations. 
 Subject to the limitations of clauses (i) through (vii) of Section 10.1, the Lenders hereby
consent to the Administrative Agent, on the Lenders’ behalf, entering into any amendments to the Credit Agreement necessary or reasonably desired by the Administrative Agent and the Borrower to effectuate the joinder of the Foreign Borrower to
this Credit Agreement, such amendment shall provide, among other things, (x) that each Lender may, at its option, make Loans available to such Foreign Borrower by causing any foreign or domestic branch or Affiliate of such Lender to make such
loan and (y) that the Borrower and such Foreign Borrower shall indemnify each Lender against increased costs incurred by such Lender, or any sum received or receivable by such Lender is reduced, in each case by reason of the fact that the
Foreign Borrower is organized under the laws of Luxembourg or conducts business in a jurisdiction outside of the United States, subject to the Borrower’s right to replace such Lender pursuant to Section 2.20. No Foreign Subsidiary shall be
permitted to be joined as the Foreign Borrower or a Guarantor hereunder to the extent that either the Administrative Agent or the Company reasonably determines that joining such Foreign Subsidiary as the Foreign Borrower or Guarantor would violate
any law applicable to such Foreign Subsidiary, the Administrative Agent or the Lenders (including, without limitation, any applicable laws regarding financial assistance). 
 SECTION 3  
 REPRESENTATIONS AND WARRANTIES 

To induce the Lenders to enter into this Credit Agreement and to make Loans herein provided for, the Credit Parties hereby represent and
warrant to the Administrative Agent and to each Lender that: 
  

	 	3.1	Existing Indebtedness. 

Schedule 3.1 sets forth, as of the Closing Date, a complete and correct list of any Material change in the amounts, interest
rates, sinking funds, installment payments or maturities of the Indebtedness of the Borrower or its Subsidiaries since Borrower’s audited financial statements for the fiscal year ended December 31, 2010. 

  
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	 	3.2	Financial Statements. 

The Borrower has delivered to the Administrative Agent copies of the financial statements of the Borrower and its Subsidiaries referenced
in Section 4.1(g). All of said financial statements (including in each case the related schedules and notes) fairly present in all material respects the consolidated financial position of the Borrower and its Subsidiaries as of the respective
dates specified in such financial statements and the consolidated results of their operations and cash flows for the respective periods so specified and have been prepared in accordance with GAAP consistently applied throughout the periods involved
except as set forth in the notes thereto (subject, in the case of any interim financial statements, to normal year-end adjustments). 
  

	 	3.3	No Material Adverse Change. 

 Since the latter of December 31, 2010 or the date of the most recently delivered annual audited financial statements delivered pursuant to Section 5.1(a), there has been no Material Adverse
Effect. 
  

	 	3.4	Organization; Existence. 

Each of the Credit Parties is duly organized, validly existing and in good standing under the laws of its jurisdiction of organization,
and is duly qualified as a foreign entity and is in good standing under the laws of each jurisdiction in which such qualification is required by law, other than those jurisdictions as to which the failure to be so qualified or in good standing would
not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Each of the Credit Parties has the corporate power and authority to own or hold under lease the material properties it purports to own or hold under
lease, to transact the material business it transacts and proposes to transact, to execute and deliver this Credit Agreement, the other Credit Documents and the Fee Letter and to perform the provisions hereof and thereof. 

 

	 	3.5	Authorization; Power; Enforceable Obligations. 

 This Credit Agreement, the other Credit Documents and the Fee Letter have been duly authorized by all necessary corporate action on the part of the Borrower and the other Credit Parties party thereto, and
this Credit Agreement constitutes, and upon execution and delivery thereof each other Credit Document and the Fee Letter will constitute, a legal, valid and binding obligation of the Borrower and the other Credit Parties party thereto enforceable
against the Borrower and any such Credit Party in accordance with its terms, except as such enforceability may be limited by (i) applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of
creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law). Each Credit Document and the Fee Letter to which it is a party has been duly
executed and delivered on behalf of the Borrower or the other Credit Parties, as the case may be. 

  
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	 	3.6	Consent; Government Authorizations. 

 No approval, consent or authorization of, filing with, notice to or other act by or in respect of, any Governmental Authority or any other Person is required in connection with acceptance of extensions of
credit by the Borrower or the making of the guaranties hereunder or with the execution, delivery or performance of any Credit Documents or the Fee Letter by the other Credit Parties party thereto (other than those which have been obtained) or with
the validity or enforceability of any Credit Document or the Fee Letter against the Credit Parties party thereto. 
  

	 	3.7	No Material Litigation. 

(a) There are no actions, suits or proceedings pending or, to the knowledge of the Borrower, threatened against or affecting the Borrower
or any Subsidiary or any property of the Borrower or any Subsidiary in any court or before any arbitrator of any kind or before or by any Governmental Authority that, individually or in the aggregate, if adversely determined would reasonably be
expected to have a Material Adverse Effect. 
 (b) Neither the Borrower nor any Subsidiary is in default under any order,
judgment, decree or ruling of any court, arbitrator or Governmental Authority or is in violation of any applicable law, ordinance, rule or regulation (including without limitation Environmental Laws) of any Governmental Authority, which default or
violation, individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect. 
  

	 	3.8	No Default. 

 No Default
or Event of Default has occurred and is continuing. 
  

	 	3.9	Taxes. 

 The Borrower and
its Subsidiaries have filed all Federal and all other material tax returns (state, local and foreign) that are required to have been filed in any jurisdiction, and have paid all income taxes shown to be due and payable (including interest and
penalties) on such returns and all other taxes and assessments due and payable by them (within any grace period provided for such payment), except for any taxes and assessments (a) the amount of which is not individually or in the aggregate
Material or (b) the amount, applicability or validity of which is currently being contested in good faith by appropriate proceedings and with respect to which the Borrower or a Subsidiary, as the case may be, has established adequate reserves
in accordance with GAAP. None of the Credit Parties or their respective Subsidiaries is aware, as of the Closing Date, of any proposed tax assessments against it or any of its Subsidiaries which would reasonably be expected to have a Material
Adverse Effect. 
  

	 	3.10	ERISA. 

 Neither a
Reportable Event nor an “accumulated funding deficiency” (within the meaning of Section 412 of the Code or Section 302 of ERISA) has occurred during the five-year period 

  
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prior to the date on which this representation is made or deemed made with respect to any Plan, and each Plan has complied in all material respects with the applicable provisions of ERISA and the
Code, except to the extent that any such occurrence or failure to comply would not reasonably be expected to have a Material Adverse Effect. No termination of a Single Employer Plan has occurred resulting in any liability that has remained unfunded,
and no Lien in favor of the PBGC or a Plan has arisen, during such five-year period which could reasonably be expected to have a Material Adverse Effect. The present value of all accrued benefits under each Single Employer Plan (based on those
assumptions used to fund such Plans) did not, as of the last annual valuation date prior to the date on which this representation is made or deemed made, exceed the value of the assets of such Plan allocable to such accrued benefits by an amount
which, as determined in accordance with GAAP, could reasonably be expected to have a Material Adverse Effect. Neither the Borrower nor any ERISA Affiliate is currently subject to any liability for a complete or partial withdrawal from a
Multiemployer Plan which could reasonably be expected to have a Material Adverse Effect. No Plan has been determined to be “at risk” (within the meaning of Section 430 of the Code or Section 303 of ERISA) or is reasonably likely
to become so. 
  

	 	3.11	Governmental Regulations, Etc. 

 (a) No part of the proceeds of the Loans hereunder will be used, directly or indirectly, for the purpose of purchasing or carrying any “margin stock” within the meaning of Regulation U, or
for the purpose of purchasing or carrying or trading in any securities. If requested by any Lender or the Administrative Agent, the Borrower will furnish to the Administrative Agent and each Lender a statement to the foregoing effect in conformity
with the requirements of FR Form U-1 referred to in said Regulation U. No Indebtedness being reduced or retired out of the proceeds of the Loans hereunder was or will be incurred for the purpose of purchasing or carrying any margin stock
within the meaning of Regulation U or any “margin security” within the meaning of Regulation T. “Margin stock” within the meaning of Regulation U does not constitute more than 25% of the value of the Consolidated
Assets of the Borrower and its Subsidiaries. Neither the execution and delivery hereof by the Borrower, nor the performance by it of any of the transactions contemplated by this Credit Agreement (including, without limitation, the direct or indirect
use of the proceeds of the Loans) will violate or result in a violation of the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, or regulations issued pursuant thereto, or Regulation T, U or X.

 (b) The Borrower is not an “investment company” registered or required to be registered under the Investment
Company Act of 1940, as amended, and is not controlled by such a company. 
 (c) The use of the proceeds of the Loans hereunder
will not violate the Trading with the Enemy Act, as amended, or any of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) or any enabling legislation or
executive order relating thereto. Without limiting the foregoing, none of the Credit Parties is or will (i) become a person whose property or interest in property are blocked pursuant to Section 1 of Executive Order 13224 of
September 23, 2001 Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or Support Terrorism (66 Fed. 

  
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Reg. 49079 (2001)) or (ii) to the best of its knowledge, engage in any dealings or transactions, or be associated with, any such person. 

 

	 	3.12	Subsidiaries. 

 (a)
Schedule 3.12 is (except as noted therein) a complete and correct list of the Borrower’s Subsidiaries, showing, as to each Subsidiary, the correct name thereof, the jurisdiction of its organization, and the percentage of shares of
each class of its capital stock or similar equity interests outstanding owned by the Borrower and each other Subsidiary and an indication whether such Subsidiary is, as of the Closing Date, a Material Subsidiary. 

(b) Each of the Material Subsidiaries identified in Schedule 3.12 is a corporation or other legal entity duly organized,
validly existing and in good standing under the laws of its jurisdiction of organization, and is duly qualified as a foreign corporation or other legal entity and is in good standing in each jurisdiction in which such qualification is required by
law, other than those jurisdictions as to which the failure to be so qualified or in good standing would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Each such Subsidiary has the corporate or other
power and authority to own or hold under lease the properties it purports to own or hold under lease and to transact the business it transacts and proposes to transact. 

 

	 	3.13	Use of Proceeds. 

 The
Extensions of Credit will be used solely (a) to refinance the Existing Facility and certain other Indebtedness of the Borrower and to pay certain fees and expenses related thereto and (b) to provide for the working capital and general
corporate requirements of the Borrower and its Subsidiaries, including, without limitation, commercial paper back-up, the financing of investments and acquisitions not prohibited hereunder and the payment of fees and expenses incurred in connection
with the transactions contemplated hereby. 
  

	 	3.14	Contractual Obligations; Compliance with Laws; No Conflicts. 

 The execution, delivery and performance by the Borrower and the other Credit Parties, as applicable, of this Credit Agreement, the other Credit Documents and the Fee Letter will not (a) contravene,
result in any breach of, or constitute a default under, or result in the creation of any Lien (other than Permitted Liens) in respect of any property of the Borrower or any Subsidiary under, any indenture, mortgage, deed of trust, loan, purchase or
credit agreement, lease, or any other Material agreement or instrument to which the Borrower or any Subsidiary is bound or by which the Borrower or any Subsidiary or any of their respective properties may be bound or affected except to the extent
that the same could not reasonably be expected, either individually or in the aggregate, to have a Material Adverse Effect, (b) conflict with or result in a breach of any of the terms, conditions or provisions of any order, judgment, decree, or
ruling of any court, arbitrator or Governmental Authority applicable to the Borrower or any Subsidiary, (c) violate any Requirement of Law applicable to the Borrower or any of its Subsidiaries (except those as to which waivers or consents have
been obtained) or (d) conflict with, result in a breach 

  
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of or constitute a default under the articles of incorporation, bylaws or other organizational documents of such Person. 

 

	 	3.15	Accuracy and Completeness of Information. 

 Factual statements contained in the Credit Documents and any other certificates or documents furnished to the Administrative Agent or the Lenders by or on behalf of any Credit Party from time to time
pursuant to this Agreement (in any case excluding any projections, budgets and estimates), taken as a whole, and taking into consideration all corrections or substituted documents, do not and will not, as of the date when made, contain any untrue
statement of a material fact or omit to state a material fact necessary in order to make the statements contained therein not misleading in light of the circumstances in which the same were made, all except as otherwise qualified herein. There is no
fact now known to the Borrower or any of its Subsidiaries which has, or would reasonably be expected to have, a Material Adverse Effect which fact has not been set forth herein, in the financial statements of the Borrower and its Subsidiaries
furnished to the Administrative Agent and/or the Lenders, or in any certificate, opinion or other written statement made or furnished by the Borrower to the Administrative Agent and/or the Lenders. All projections, budgets and estimates delivered
hereunder represent as of the date delivered the good faith estimate of the Borrower and its senior management concerning the financial condition, financial performance and course of the business of the Borrower and its Subsidiaries; provided such
projections, budgets and estimates are not to be viewed as fact, and actual results during the period covered thereby may differ from such projections, budgets and estimates and such differences may be Material. 

 

	 	3.16	Environmental Matters. 

Except as to matters which individually or in the aggregate would not reasonably be expected to have a Material Adverse Effect:

 (a) the facilities and properties owned, leased or operated by the any of the Credit Parties and their Subsidiaries (the
“Properties”) do not contain any Materials of Environmental Concern in amounts or concentrations which (i) constitute a violation of, or (ii) have resulted in liability under, any Environmental Law. 

(b) the Properties and all operations of the Credit Parties and their Subsidiaries at the Properties are in compliance, and have in the
last five years been in compliance, in all material respects with all applicable Environmental Laws, and there is no contamination at or under the Properties or violation of any Environmental Law with respect to the Properties or the business
operated by any of the Credit Parties (the “Business”). 
 (c) to the knowledge of the Responsible Officers of
the Credit Parties, neither the Borrower nor any of its Subsidiaries has received any written notice of violation, alleged violation, non-compliance, liability or potential liability regarding environmental matters or compliance with Environmental
Laws with regard to any of the Properties or the Business, nor does the Borrower nor any of its Subsidiaries have knowledge of any such threatened notice. 

  
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 (d) Materials of Environmental Concern have not been transported or disposed of from the
Properties in violation of, or in a manner or to a location which has given rise to liability under any Environmental Law, nor have any Materials of Environmental Concern been generated, treated, stored or disposed of at, on or under any of the
Properties in violation of, or in a manner that has given rise to liability under, any applicable Environmental Law. 
 (e) no
judicial proceeding or governmental or administrative action is pending or, to the knowledge of any Credit Party, threatened, under any Environmental Law to which any of the Credit Parties is or will be named as a party with respect to the
Properties or the Business, nor are there any consent decrees or other decrees, consent orders, administrative orders or other orders, or other administrative or judicial directives outstanding under any Environmental Law with respect to the
Properties or the Business. 
 (f) there has been no release or threat of release of Materials of Environmental Concern at or
from the Properties, or arising from or related to the operations of any of the Credit Parties in connection with the Properties or otherwise in connection with the Business, in violation of or in amounts or in a manner requiring remediation under
Environmental Laws. 
  

	 	3.17	Solvency. 

 The fair
saleable value of the assets of the Borrower, individually, and of the Borrower and its Subsidiaries, taken as a whole, measured on a going concern basis, exceeds all probable liabilities, including those to be incurred pursuant to this Credit
Agreement. The Credit Parties taken as a whole (a) do not have unreasonably small capital in relation to the business in which they are or propose to be engaged and (b) have not incurred or do not believe that they will incur after giving
effect to the transactions contemplated by this Credit Agreement, debts beyond their ability to pay such debts as they become due. 
  

	 	3.18	Title to Property; Leases. 

The Borrower and its Subsidiaries have good and sufficient title to their respective Material properties, including all such properties
reflected in the most recent audited balance sheet referred to in Section 3.2 and Section 5.1 or acquired by the Borrower or any Subsidiary after said date (except as sold or otherwise disposed of in the ordinary course of business), in
each case free and clear of Liens prohibited by this Credit Agreement, except for those defects in title and Liens that, individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect. All Material leases are
valid and subsisting and are in full force and effect except to the extent that the failure thereof would not be reasonably expected, either individually or in the aggregate, to have a Material Adverse Effect. 

 

	 	3.19	Insurance. 

 Schedule
3.19 sets for the insurance coverage of the Borrower and its Subsidiaries in effect as of the Closing Date. The present insurance coverage of the Borrower and its Subsidiaries complies with the requirements set forth in Section 5.5.

  
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	 	3.20	Licenses and Permits. 

The Borrower and its Subsidiaries own or possess all licenses, permits, franchises, authorizations, patents, copyrights, service marks,
trademarks and trade names, or rights thereto, that are Material, without known conflict with the rights of others, except for the failure of such ownership or possession or those conflicts that, individually or in the aggregate, would not
reasonably be expected to have a Material Adverse Effect. 
  

	 	3.21	Anti-Terrorism Laws; OFAC. 

(a) Neither the making of the Loans hereunder nor the Borrower’s use of the proceeds thereof will violate the Patriot Act, the
Trading with the Enemy Act, as amended, or any of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) or any enabling legislation or executive order relating
thereto, or is in violation of any Federal statute or Presidential Executive Order, including without limitation Executive Order 13224 66 Fed. Reg. 49079 (September 25, 2001) (Blocking Property and Prohibiting Transactions with
Persons who Commit, Threaten to Commit or Support Terrorism) (collectively, “Anti-Terrorism Laws”). 
 (b) None
of the Borrower, any Subsidiary or any Affiliate of the Borrower: (a) is a Sanctioned Person, (b) has any of its assets in Sanctioned Entities or (c) derives any of its operating income from investments in, or transactions with,
Sanctioned Persons or Sanctioned Entities. 
  

	 	3.22	Labor Matters. 

 None of
the Credit Parties currently have existing any strikes, walkouts or other work stoppages, other than as set forth in Schedule 3.22 hereto or as would not reasonably be expected to have a Material Adverse Effect. 

SECTION 4  
 CONDITIONS 
  

	 	4.1	Conditions to Closing. 

This Credit Agreement shall become effective upon, and the obligation of each Lender to make the initial Extensions of Credit is subject
to, the satisfaction or waiver of the following conditions precedent: 
 (a) Execution of Credit Agreement and Credit
Documents. Receipt by the Administrative Agent of (i) counterparts of this Credit Agreement and (ii) for the account of each Lender that requests a Revolving Note, Revolving Notes and for the account of the Swingline Lender, a
Swingline Note, in each case executed by a duly authorized officer of each party thereto and in each case conforming to the requirements of this Credit Agreement. 

  
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 (b) Legal Opinion. Receipt by the Administrative Agent of a legal opinion of counsel
(including in-house counsel) to the Credit Parties relating to this Credit Agreement and the other Credit Documents and the transactions contemplated herein and therein, in form and substance reasonably acceptable to the Administrative Agent, which
opinion shall include, without limitation, an opinion that the execution, delivery and performance of the Credit Documents and the performance of the transactions contemplated thereby will not conflict with, result in a breach of, require any
consent or permit any acceleration of (or require repayment of) any Indebtedness of the Credit Parties or under any of the Credit Parties’ organizational documents and material agreements. 

(c) Absence of Legal Proceedings. The absence of any pending or, to the best knowledge of the Borrower, threatened action, suit,
investigation, proceeding, bankruptcy or insolvency, injunction, order or claim with respect to the Borrower or any of its Subsidiaries which would, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

 (d) Corporate Documents. Receipt by the Administrative Agent of the following (or their equivalent), each (other than
with respect to clause (iv)) certified by the secretary or assistant secretary of each Credit Party as of the Closing Date to be true and correct and in force and effect pursuant to a certificate substantially in the form attached hereto as
Schedule 4.1(d): 
 (i) Articles of Incorporation. Copies of the articles of incorporation or
charter documents of the Credit Parties certified to be true and complete as of a recent date by the appropriate Governmental Authority of the state of its organization. 

(ii) Resolutions. Copies of resolutions of the board of directors or comparable managing body of the Credit Parties
approving and adopting the respective Credit Documents to which each is a party, the transactions contemplated therein and authorizing execution and delivery thereof. 

(iii) Bylaws. Copies of the bylaws, operating agreement or partnership agreement of the Credit Parties certified by
a secretary or assistant secretary as of the Closing Date to be true and correct and in force and effect as of such date. 
 (iv) Good Standing. Copies, where applicable, of certificates of good standing, existence or its equivalent of each of the Credit Parties certified as of a recent date by the appropriate
Governmental Authorities of the State of organization and each other State in which the failure to so qualify and be in good standing would reasonably be expected to have a Material Adverse Effect. 

(v) Incumbency. An incumbency certificate of each Credit Party certified by a secretary or assistant secretary to
be true and correct as of the Closing Date. 
 (e) Officer’s Certificate. Receipt by the Administrative Agent of
(i) a certificate, in form and substance reasonably satisfactory to it, of a Responsible Officer certifying that the Borrower and each of the other Credit Parties on a consolidated basis are solvent as of the

  
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Closing Date and (ii) an Officer’s Compliance Certificate demonstrating that the Borrower, on a consolidated basis with its Subsidiaries, is in pro forma compliance with all of the
financial covenants in Section 5.9 both before and after giving effect to any Loans to be made on the Closing Date. 
 (f)
Account Designation Letter. Receipt by the Administrative Agent of an executed counterpart of the Account Designation Letter. 
 (g) Financial Information. Receipt by the Administrative Agent of (i) the final audited financial statements of the Borrower for the twelve month period ending December 31, 2010 and
(ii) the unaudited quarterly financial statements of the Borrower for the quarter ending June 30, 2011. 
 (h) Loan
Closing Statement. Receipt by the Administrative Agent of a closing statement in form satisfactory to it, setting forth the fees and expenses to be paid by the Borrower on the Closing Date and such other matters as the Administrative Agent may
reasonably request. 
 (i) Repayment of Existing Facility. All accrued interest and fees payable by the Borrower under
the Existing Facility shall have been paid in full (or shall be paid in full with the proceeds of the initial Loans) and the Administrative Agent shall have received such evidence of such payment as the Administrative Agent may reasonably require.

 (j) Consents. The Administrative Agent shall have received evidence that all necessary governmental, corporate,
shareholder and third party consents and approvals, if any, in connection with the financings and other transactions contemplated hereby have been received and no condition exists which would reasonably be likely to restrain, prevent or impose any
material adverse conditions on the transactions contemplated hereby. 
 (k) No Material Adverse Change. Since
December 31, 2010 there has been no event or development which has had a Material Adverse Effect. 
 (l) Fees.
Receipt by the Administrative Agent and the Lenders of all fees, if any, then owing by the Borrower to the Lenders, the Administrative Agent and the Lead Arrangers. 
 (m) Patriot Act Certificate. The Borrower and each other Credit Party shall have provided all information requested by the Administrative Agent and each Lender in order to comply with the Patriot
Act. 
 (n) Transfer Authorizer Designation Form. Receipt by the Administrative Agent of a Transfer Authorizer
Designation Form effective as of the Closing Date. 
 (o) Additional Matters. All other documents and legal matters in
connection with the transactions contemplated by this Credit Agreement shall be reasonably satisfactory in form and substance to the Administrative Agents. 

  
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	 	4.2	Conditions to All Extensions of Credit. 

 The obligation of each Lender to make any Extension of Credit hereunder is subject to the satisfaction of the following conditions precedent on the date of making such Extension of Credit: 

(a) Representations and Warranties. The representations and warranties made by the Borrower herein or in any other Credit Document
or which are contained in any certificate furnished at any time under or in connection herewith or therewith shall be true and correct in all material respects on and as of the date of such Extension of Credit as if made on and as of such date
(except for those which expressly relate to an earlier date in which case such representations and warranties shall be true and correct as of such earlier date). 
 (b) No Default or Event of Default. No Default or Event of Default shall have occurred and be continuing on such date or after giving effect to the Extension of Credit to be made on such date.

 (c) Compliance with Commitments. Immediately after giving effect to the making of any such Extension of Credit
(and the application of the proceeds thereof), (i) the sum of the aggregate principal Dollar Amount (determined as of the most recent Revaluation Date) of outstanding Revolving Loans plus Swingline Loans plus LOC Obligations
plus Competitive Loans shall not exceed the Aggregate Revolving Committed Amount, (ii) the aggregate Dollar Amount (determined as of the most recent Revaluation Date) of the LOC Obligations shall not exceed the LOC Committed Amount,
(iii) the Swingline Loans shall not exceed the Swingline Commitment and (iv) the aggregate principal amount of all Competitive Loans shall not exceed 50% of the remainder of (x) the Aggregate Revolving Committed Amount less
(y) the Dollar Amount (determined as of the most recent Revaluation Date) of the sum of the outstanding Revolving Loans plus outstanding Swingline Loans plus LOC Obligations. 

Each request for an Extension of Credit and each acceptance by the Borrower of an Extension of Credit shall be deemed to constitute a
representation and warranty by the Borrower as of the date of such Extension of Credit that the conditions in subsections (a) and (b) of this Section have been satisfied or waived in writing. Each request for an extension or conversion of
a Loan hereunder shall be deemed to constitute a representation and warranty by the Borrower as of the date of such Loan that the conditions in subsection (b) of this Section has been satisfied or waived in writing. 

SECTION 5 

AFFIRMATIVE COVENANTS 
 The Credit Parties covenant and agree that on the Closing Date, and so long as this Credit Agreement is in effect and until (a) the Commitments have been terminated, (b) no Loans or Letters of
Credit (other than Letters of Credit which have been Cash Collateralized) remain outstanding and (c) all amounts owing hereunder or under any other Credit Document or the Fee Letter or in connection herewith or therewith have been paid in full
(other than contingent 

  
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indemnification of the Credit Party Obligations to the extent no claim giving rise thereto has been asserted), the Credit Parties shall, and shall cause each Subsidiary to: 

 

	 	5.1	Financial Statements. 

Furnish, or cause to be furnished, to the Administrative Agent and the Lenders: 

(a) as soon as available, but in any event within 120 days after the end of each fiscal year of the Borrower (or such
earlier date as the Borrower may file or be required to file such statements with the Securities and Exchange Commission (“SEC”)), a consolidated balance sheet of the Borrower and its Subsidiaries as at the end of such fiscal year,
and the related consolidated statements of income or operations, changes in stockholders’ equity and cash flows for such fiscal year, setting forth in each case in comparative form the figures for the previous fiscal year, all in reasonable
detail and prepared in accordance with GAAP, audited and accompanied by a report and opinion of Deloitte or another independent certified public accountant of nationally recognized standing reasonably acceptable to the Required Lenders (it being
agreed that any of the “Big Four” accounting firms shall be acceptable to the Required Lenders), which report and opinion shall be prepared in accordance with generally accepted auditing standards and shall not be subject to any
“going concern” or like qualification or exception or any qualification or exception as to the scope of such audit; and 
 (b) as soon as available, but in any event within 45 days after the end of each of the first three fiscal quarters of each fiscal year of the Borrower (or such earlier date as the Borrower may file
or be required to file such statements with the SEC), a consolidated balance sheet of the Borrower and its Subsidiaries as at the end of such fiscal quarter, and the related consolidated statements of income or operations and cash flows for such
fiscal quarter and for the portion of the Borrower’s fiscal year then ended, setting forth in comparative form the figures for the corresponding fiscal quarter of the previous fiscal year and the corresponding portion of the previous fiscal
year, all in reasonable detail, certified by a Responsible Officer of the Borrower as fairly presenting in all material respects the financial condition, results of operations, shareholders’ equity and cash flows of the Borrower and its
Subsidiaries in accordance with GAAP, subject only to normal year-end audit adjustments and the absence of footnotes. 
 As to any information
contained in materials furnished pursuant to Section 5.2(a), the Borrower shall not be separately required to furnish such information under clause (a) or (b) above, but the foregoing shall not be in derogation of the obligation of
the Borrower to furnish the information and materials described in clauses (a) and (b) above at the times specified therein. All such financial statements shall be complete and correct in all material respects (subject, in the case of
interim statements, to normal recurring year-end audit adjustments and the absence of footnotes) and shall be prepared in reasonable detail and in accordance with GAAP applied consistently throughout the periods reflected therein. 

  
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	 	5.2	Certificates; Other Information. 

 Furnish, or cause to be furnished, to the Administrative Agent for distribution to the Lenders: 
 (a) Officer’s Compliance Certificate. Concurrently with the delivery of the financial statements referred to in Sections 5.1(a) and 5.1(b) above, a certificate of a Responsible
Officer stating that, to the best of such Responsible Officer’s knowledge, (i) the financial statements fairly present in all material respects the financial condition of the parties covered by such financial statements, and (ii) such
Responsible Officer has obtained no knowledge of any Default or Event of Default except as specified in such certificate. Such certificate shall include the calculations required to indicate compliance with Section 5.9 as of the last day of the
period covered by such financial statements. 
 (b) Other Information. Promptly, such additional financial and other
information as the Administrative Agent, at the request of any Lender, may from time to time reasonably request. 
 (c)
Public Information. Promptly, and in any event within thirty (30) days after the same are sent, copies of all reports (other than those otherwise provided pursuant to Section 5.1 or those which are of a promotional nature) and other
financial information which any Credit Party sends to its stockholders (but only to the extent such reports and other financial information would customarily be distributed by a public company to its public stockholders) and promptly, and in any
event within thirty (30) days after the same are filed, copies of all financial statements and non-confidential reports which any Credit Party may make to, or file with, the SEC or any successor or analogous United States Governmental
Authority. 
 (d) Annual Report. Promptly, and in any event within one hundred twenty (120) days after the end of
each fiscal-year, (i) to the extent prepared by the Borrower, a copy of its annual report (which shall include audited financial statements as of the end of such fiscal year) and (ii) a report certified by a Responsible Officer of the
Borrower as being the annual budget approved by the board of directors of the Borrower. 
  

	 	5.3	Notices. 

 Give notice to
the Administrative Agent (which shall promptly transmit such notice to each Lender) of: 
 (a) Defaults. Promptly (but in
any event within five (5) Business Days), after any Responsible Officer of a Credit Party knows thereof, the occurrence of any Default or Event of Default. 
 (b) Legal Proceedings. Promptly, any litigation, or any investigation or proceeding (including without limitation, any environmental or Governmental Authority proceeding) known to any Credit Party,
relating to the Borrower or any of its Subsidiaries which, if adversely determined (and with respect to litigation, for which the Borrower reasonably determines that a 

  
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reasonable basis for the prayer for damages exists), would reasonably be expected to have a Material Adverse Effect. 
 (c) ERISA. As soon as possible and in any event within thirty (30) days after the Borrower knows thereof: (i) the occurrence of any Reportable Event with respect to any Plan, (ii) a
failure to make any required contribution to a Plan, (iii) the creation of any Lien in favor of the PBGC (other than a Permitted Lien) or a Plan (iv) any withdrawal from, or the termination, Reorganization or Insolvency of, any
Multiemployer Plan or (v) the institution of proceedings or the taking of any other action by the PBGC or the Borrower or any ERISA Affiliate with respect to the termination of any Plan, in each case of clauses (i) through (v), only to the
extent that such occurrence could reasonably be expected to have a Material Adverse Effect. 
 (d) Debt Ratings Change.
Promptly, and in any event within five (5) Business Days, after the Borrower obtains any actual knowledge of a change in the Debt Rating by either S&P or Moody’s, notice of such change accompanied by any announcement or publication
made by the relevant agency in connection therewith. 
 (e) Other. Promptly, any other development or event which a
Responsible Officer gains knowledge of which would reasonably be expected to have a Material Adverse Effect. 
 (f) Portfolio
Acquisition. The consummation of a Portfolio Acquisition not more than 5 Business Days following the consummation thereof, such notice to be accompanied by an Officer’s Compliance Certificate giving pro forma effect to such Portfolio
Acquisition. 
 Each notice pursuant to this Section 5.3 shall be accompanied by a statement of a Responsible Officer setting forth
reasonable details of the occurrence referred to therein and stating what action the Borrower proposes to take with respect thereto. 
  

	 	5.4	Maintenance of Existence; Compliance with Laws; Contractual Obligations. 

 (a) Subject to Section 6.3, preserve and keep in full force and effect the Borrower’s corporate existence. Subject to Section 6.3, each Credit Party will at all times preserve and keep in
full force and effect the corporate existence of it (except the Borrower) and each of its Subsidiaries (unless merged into the Borrower or a Subsidiary) and all rights and franchises of itself and its Subsidiaries unless, in the good faith judgment
of the Borrower, the termination of or failure to preserve and keep in full force and effect such corporate existence, right or franchise would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

 (b) Comply with all Requirements of Law, ordinances or governmental rules or regulations to which each of them is subject,
including, without limitation, Environmental Laws and ERISA-related Requirements of Law, and will obtain and maintain in effect all licenses, certificates, permits, franchises and other governmental authorizations necessary to the ownership of their
respective properties or to the conduct of their respective businesses, in each case to the extent necessary to ensure that non-compliance with such Requirements of Law, ordinances or governmental rules or regulations or failures to obtain or
maintain in effect such 

  
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licenses, certificates, permits, franchises and other governmental authorizations would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect.

 (c) Fully perform and satisfy all of its obligations under all of its contractual obligations except (i) to the extent
that failure to perform and satisfy such obligations would not, in the aggregate, reasonably be expected to have a Material Adverse Effect or (ii) in the case of monetary obligations except when the amount or validity of such obligations and
costs are currently being contested in good faith by appropriate proceedings and reserves, if applicable, in conformity with GAAP with respect thereto have been provided on the books of the Borrower or the applicable Subsidiaries, as the case may
be. 
  

	 	5.5	Maintenance of Property; Insurance. 

 (a) Maintain and keep, or cause to be maintained and kept, their respective Properties in normal repair, working order and condition (other than ordinary wear and tear), so that the business carried on in
connection therewith may be properly conducted at all times, provided that this Section 5.5 shall not prevent the Borrower or any Subsidiary from discontinuing the operation and the maintenance of any of its Properties if such
discontinuance is desirable in the conduct of its business, or , in any event, the Borrower has concluded that repair, working order or condition or such discontinuance would not, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect. 
 (b) Maintain, with financially sound and reputable insurers, insurance with respect to their
respective Material Properties and businesses against such casualties and contingencies, of such types, on such terms and in such amounts (including deductibles, co-insurance and self-insurance, if adequate reserves are maintained with respect
thereto) as is customary in the case of entities of established reputations engaged in the same or a similar business and similarly situated (including, without limitation, terrorism insurance); and furnish to the Administrative Agent, upon written
request, reasonable information as to the insurance carried. The Lenders acknowledge and agree that the Borrower’s and its Subsidiaries’ insurance set forth on Schedule 3.19 satisfies the requirements of this Section 5.5 as of
the Closing Date. 
  

	 	5.6	Inspection of Property; Books and Records; Discussions. 

 Keep proper books of records and account in which true and correct entries in all material respects in conformity with GAAP shall be made of all dealings and transactions in relation to its businesses and
activities; and permit, during regular business hours, at reasonable intervals and upon reasonable notice by the Administrative Agent, the Administrative Agent to visit and inspect any of the Credit Parties’ or their Subsidiaries’
Properties (without materially disrupting the Borrower’s day to day operations) and examine and make abstracts (including photocopies) from any of its books and records (other than materials protected by the attorney-client privilege and
materials which the Borrower and its Subsidiaries may not disclose without violation of a Requirement of Law or confidentiality obligation binding upon it) at any reasonable time, and to discuss the business, operations, properties and financial and
other condition of the Credit Parties and their Subsidiaries with officers and employees of the Borrower and, to the extent such certified public accountants will permit, with their independent certified public accountants. The

  
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cost of the inspection referred to in the preceding sentence shall be borne by the Lenders unless an Event of Default has occurred and is continuing, in which case the cost of such inspection
shall be for the account of the Borrower. 
  

	 	5.7	Use of Proceeds. 

 Use the
Loans solely for the purposes provided in Section 3.13. 
  

	 	5.8	Additional Guarantors. 

Cause each of the Borrower’s Material Domestic Subsidiaries which is not a party to this Credit Agreement (other than any Excluded
Subsidiary), whether newly formed, after acquired or otherwise existing, to as soon as practicable and in any event concurrently with the delivery of the next quarterly compliance certificate required pursuant to Section 5.2(a) following such
formation, acquisition or existence, become a “Guarantor” hereunder by way of execution of a Joinder Agreement. Such joinder agreement shall be accompanied by such other documentation as the Administrative Agent may reasonably request in
connection with the foregoing, including, without limitation, certified resolutions and other organizational and authorizing documents of such Person and favorable opinions of counsel to such Person (which shall cover, among other things, the
legality, validity, binding effect and enforceability of the documentation referred to above), all in form, content and scope reasonably satisfactory to the Administrative Agent. 

 

	 	5.9	Financial Covenants. 

 (a)
Leverage Ratio. On a consolidated basis, maintain a Leverage Ratio at all times but to be tested as of the end of each fiscal quarter of the Borrower of less than or equal to 4.5 to 1.0; provided, however, that the Borrower may maintain a
Leverage Ratio of not more than 5.5 to 1.0 for a period commencing on the date of the consummation of a Portfolio Acquisition and ending 270 days thereafter; provided further, that the Leverage Ratio may only be increased as described above for not
more than two periods during the term of this Agreement, which periods may not be consecutive. 
 (b) Secured Funded Debt
Ratio. On a consolidated basis, maintain a Secured Funded Debt Ratio at all times but to be tested as of the end of each fiscal quarter of the Borrower of less than or equal to 0.30 to 1.00. 

 

	 	5.10	Electronic Delivery of Certain Information. 

 (a) Documents required to be delivered pursuant to the Credit Documents shall be delivered by electronic communication and delivery, including, the Internet, e-mail or intranet websites to which the
Administrative Agent and each Lender have access (including a commercial or governmental, third-party website such as www.sec.gov <http://www.sec.gov> or a website sponsored or hosted by the Administrative Agent or the Borrower) provided that
the foregoing shall not apply to (i) notices to any Lender (or Issuing Lender) pursuant to Section 2 and (ii) any Lender that has notified the Administrative Agent and the Borrower that it cannot or does not want to receive electronic
communications. The Administrative Agent or the Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by 

  
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electronic delivery pursuant to procedures approved by it for all or particular notices or communications. In the case of documents or notices delivered electronically to the Administrative Agent
and the Lenders, such documents or notices shall be deemed to have been delivered twenty-four (24) hours after the date and time on which (A) the Borrower posts such documents or the documents become available on a commercial or
governmental website and (B) the Borrower notifies Administrative Agent of said posting by causing an e-mail notification to be sent to an email address specified from time to time by the Administrative Agent and provides a link thereto. Upon
receipt of any such e-mail by the Administrative Agent, the Administrative Agent shall notify each Lender thereof. If (x) such notice or other communication is not sent or posted during the normal business hours of the recipient, said posting
date and time shall be deemed to have occurred as of 10:00 a.m. Eastern time on the next business day for the recipient and (y) the deemed time of delivery occurs on a day that is not a business day for the recipient, the deemed time of
delivery shall be 10:00 a.m. Eastern time on the next business day for the recipient. Notwithstanding anything contained herein, in every instance the Borrower shall be required to provide paper copies of the certificate required by
Section 5.2(a) to the Administrative Agent and shall deliver paper copies of any documents to the Administrative Agent or to any Lender that requests such paper copies until a written request to cease delivering paper copies is given by the
Administrative Agent or such Lender. Except for the certificates required by Section 5.2(a), the Administrative Agent shall have no obligation to request the delivery of or to maintain paper copies of the documents delivered electronically, and
in any event shall have no responsibility to monitor compliance by the Borrower with any such request for delivery. Each Lender shall be solely responsible for requesting delivery to it of paper copies and maintaining its paper or electronic
documents. 
 (b) Documents required to be delivered pursuant to Section 2. may be delivered electronically to a website
provided for such purpose by the Administrative Agent pursuant to the procedures provided to the Borrower by the Administrative Agent. 
  

	 	5.11	Public/Private Information. 

 The Borrower shall cooperate with the Administrative Agent in connection with the publication of certain materials and/or information provided by or on behalf of the Borrower. Documents required to be
delivered pursuant to the Credit Documents shall be delivered by or on behalf of the Borrower to the Administrative Agent for the benefit of the Administrative Agent and the Lenders (collectively, “Information Materials”) pursuant to this
Article and the Borrower shall designate Information Materials (a) that are either available to the public or not material with respect to the Borrower and its Subsidiaries or any of their respective securities for purposes of United States
federal and state securities laws, as “Public Information” and (b) that are not Public Information as “Private Information”. 
 SECTION 6  
 NEGATIVE COVENANTS 

The Credit Parties covenant and agree that on the Closing Date, and so long as this Credit Agreement is in effect and until (a) the
Commitments have been terminated, (b) no Loans or Letters of Credit (other than Letters of Credit which have been Cash Collateralized) remain 

  
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outstanding and (c) all amounts owing hereunder or under any other Credit Document or the Fee Letter or in connection herewith or therewith have been paid in full (other than contingent
indemnification of the Credit Party Obligations to the extent no claim giving rise thereto has been asserted), the Credit Parties shall not and shall not permit any Subsidiary to: 

 

	 	6.1	Liens. 

 Contract, create,
incur, assume or permit to exist any Lien with respect to any of its property or assets of any kind (whether real or personal, tangible or intangible), whether now owned or hereafter acquired, except for Permitted Liens. 

 

	 	6.2	Nature of Business. 

Alter the character of the business of the Borrower and its Subsidiaries taken as a whole in any material respect from that conducted as
of the Closing Date other than alterations, expansions and extensions reasonably related thereto. 
  

	 	6.3	Mergers and Sale of Assets 

(a) Dissolve, liquidate or wind up its affairs or sell, transfer, lease or otherwise dispose of all or substantially all of the assets of
the Borrower and its Subsidiaries taken as a whole or agree to do so at a future time to any other Person; provided that the following, without duplication, shall be expressly permitted: 

(i) the sale, lease or transfer of property or assets between and among Credit Parties; 

(ii) any Subsidiary may dissolve, liquidate or wind up its affairs at any time so long as such dissolution, liquidation or
winding up would not reasonably be expected to have a Material Adverse Effect and, in the case of any Guarantor, any assets of such Guarantor are transferred to another Credit Party in connection with such dissolution, liquidation or winding up; and

 (iii) any other dissolution, liquidation or winding up of the affairs of a Subsidiary or any other sale, lease
or transfer of property or assets to any Person; provided that after giving effect to such dissolution, liquidation or winding up or sale, lease or transfer of property or assets on a Pro Forma Basis no Default or Event of Default shall be in
existence or would result therefrom. 
 (b) Enter into any transaction of merger or consolidation, except that (i) any
Subsidiary may merge or consolidate with or into another Subsidiary; provided that if a Credit Party is a party thereto, a Credit Party will be the surviving corporation, (ii) any Subsidiary of the Borrower that is no longer useful in
the business of the Borrower and its Subsidiaries, as determined by the Borrower in its reasonable discretion, may dissolve, liquidate or wind up its affairs at any time by way of merger or consolidation so long as, in the case of a Credit Party,
the assets in such Credit Party are transferred to another Credit Party; and (iii) the Borrower or any 

  
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Subsidiary of the Borrower may merge or consolidate with or into a Pritzker Affiliate or any other Person so long as after giving effect to such merger or consolidation on a Pro Forma Basis
(A) if the Borrower is a party thereto, the Borrower is the surviving entity and (B) no Default or Event of Default shall be in existence or would result therefrom. 
 Upon the sale, transfer or other disposition of any Subsidiary (or dissolution thereof, via merger or otherwise) not prohibited by this Agreement, the Administrative Agent shall (to the extent applicable)
deliver to the Credit Parties, upon the Credit Parties’ request and at the Credit Parties’ expense, such documentation as is reasonably necessary to evidence the release of such Subsidiary from all of its obligations under the Credit
Documents, including the release of such Subsidiary if it is a Guarantor hereunder, from its obligations under Section 9 hereof. 
  

	 	6.4	Transactions with Affiliates. 

 Except for loans to officers, directors, employees and shareholders (x) existing on the Closing Date or (y) made after the Closing Date during the term of this Agreement in an aggregate amount
not to exceed $50,000,000 at any time outstanding and except as otherwise permitted pursuant to Section 6.6, enter into directly or indirectly any Material transaction or Material group of related transactions (including without limitation the
purchase, lease, sale or exchange of properties of any kind or the rendering of any service) with any Affiliate (other than the Borrower or another Subsidiary), except pursuant to the reasonable requirements of the Borrower’s or such
Subsidiary’s business and consistent with the types of transactions entered into by the Borrower or its Subsidiaries prior to the Closing Date or upon fair and reasonable terms no less favorable to the Borrower or such Subsidiary (considered as
a whole in conjunction with all other existing arrangements and relationships with such Affiliate) than would be obtainable in a comparable arm’s-length transaction with a Person not an Affiliate. 

 

	 	6.5	Fiscal Year; Organizational Documents. 

 Neither change its fiscal year nor amend, modify or change its articles of incorporation (or corporate charter or other similar organizational document) or bylaws (or other similar document) in any manner
materially adverse to the interests of the Lenders without the prior written consent of the Administrative Agent. 
  

	 	6.6	Restricted Payments. 

Directly or indirectly, declare, order, make or set apart any sum for or pay any Restricted Payment, except (a) to make dividends
payable solely in the same class of Capital Stock of such Person, (b) to make dividends or other distributions payable to the Borrower (directly or indirectly through Subsidiaries) or any Subsidiary and (c) the Borrower may make other
Restricted Payments so long as, after giving effect thereto on a Pro Forma Basis, no Default or Event of Default shall be in existence or would result therefrom. 

  
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 SECTION 7  

EVENTS OF DEFAULT 
  

	 	7.1	Events of Default. 

 An
Event of Default shall exist upon the occurrence of any of the following specified events (each an “Event of Default”): 
 (a) (i) The Borrower shall fail to pay any principal on any Loan when due in accordance with the terms hereof; or (ii) the Borrower shall fail to reimburse the Issuing Lender for any LOC Obligations
when due in accordance with the terms hereof; or (iii) the Borrower shall fail to pay any interest on any Loan or any Fee or other amount payable hereunder or under the Fee Letter when due in accordance with the terms hereof (or any Guarantor
shall fail to pay on the Guaranty in respect of any of the foregoing or in respect of any other Guaranty Obligations thereunder within the aforesaid period of time) and, solely with respect to this clause (iii) such failure shall continue
unremedied for three (3) Business Days; or 
 (b) Any representation or warranty made or deemed made herein or in any of
the other Credit Documents or which is contained in any certificate, document or financial or other statement furnished at any time pursuant to this Credit Agreement shall prove to have been incorrect, false or misleading in any material respect on
or as of the date made or deemed made; or 
 (c) (i) Any Credit Party shall fail to perform, comply with or observe any
term, covenant or agreement applicable to it contained in Sections 5.3(a), 5.9 or in Section 6; or (ii) any Credit Party shall fail to perform, comply with or observe any covenant or agreement contained in Section 5.1 or 5.4(a)
and in the event such breach or failure to comply is capable of cure such failure shall continue unremedied for a period of five Business Days; or (iii) any Credit Party shall fail to comply with any other covenant contained in this Credit
Agreement or the other Credit Documents (other than as described in Sections 7.1(a), 7.1(b), 7.1(c)(i) or 7.1(c)(ii) above), and in the event such breach or failure to comply is capable of cure, is not cured within thirty (30) days of
its occurrence; or 
 (d) Any Credit Party or any of its Subsidiaries shall (i) default in any payment of principal of or
interest on any Indebtedness (other than the Notes) in a principal amount outstanding of at least $100,000,000 in the aggregate for the Credit Parties and their Subsidiaries beyond the period of grace, if any, provided in the instrument or agreement
under which such Indebtedness was created or (ii) default in the observance or performance of any other agreement or condition relating to any Indebtedness in a principal amount outstanding of at least $100,000,000 in the aggregate for the
Credit Parties or their Subsidiaries or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event shall occur or condition exist, the effect of which default or other event or condition is to cause, or to
permit the holder or holders of such Indebtedness or beneficiary or beneficiaries of such Indebtedness (or a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause, with the giving of notice if required, such
Indebtedness to become due and payable prior to its 

  
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stated maturity or to be required to be prepaid, repurchased, redeemed or defeased prior to its stated maturity; or 
 (e) (i) Any Credit Party or any of its Material Subsidiaries shall commence any case, proceeding or other action (A) under any existing or future law of any jurisdiction, domestic or foreign,
relating to bankruptcy, insolvency, reorganization or relief of debtors, seeking to have an order for relief entered with respect to it, or seeking to adjudicate it a bankrupt or insolvent, or seeking reorganization, arrangement, adjustment,
winding-up, liquidation, dissolution, composition or other relief with respect to it or its debts, or (B) seeking appointment of a receiver, trustee, custodian, conservator or other similar official for it or for all or any substantial part of
its assets, or any Credit Party or any of its Material Subsidiaries shall make a general assignment for the benefit of its creditors; or (ii) there shall be commenced against any Credit Party or any of its Material Subsidiaries any case,
proceeding or other action of a nature referred to in clause (i) above which (A) results in the entry of an order for relief or any such adjudication or appointment or (B) remains undismissed, undischarged or unbonded for a period of
60 days; or (iii) there shall be commenced against any Credit Party or any of its Material Subsidiaries any case, proceeding or other action seeking issuance of a warrant of attachment, execution, distraint or similar process against all
or any substantial part of its assets which results in the entry of an order for any such relief which shall not have been vacated, discharged, or stayed or bonded pending appeal within 60 days from the entry thereof; or (iv) any Credit
Party or any of its Material Subsidiaries shall take any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the acts set forth in clauses (i), (ii), or (iii) above; or (v) any Credit Party
or any of its Material Subsidiaries shall generally not, or shall be unable to, or shall admit in writing its inability to, pay its debts as they become due; or 
 (f) One or more judgments or decrees shall be entered against any Credit Party or any of its Subsidiaries involving in the aggregate a liability (to the extent not paid when due or covered by insurance or
self-insurance) of $50,000,000 or more and all such judgments or decrees shall not have been paid and satisfied, vacated, discharged, stayed or bonded pending appeal within 30 days from the entry thereof; or 

(g) (i) Any Person shall engage in any non-exempt “prohibited transaction” (as defined in Section 406 of ERISA or
Section 4975 of the Code) involving any Plan, (ii) any “accumulated funding deficiency” (as defined in Section 302 of ERISA), whether or not waived, shall exist with respect to any Plan or any Lien in favor of the PBGC or a
Plan (other than a Permitted Lien) shall arise on the assets of the Borrower or any ERISA Affiliate, (iii) a Reportable Event shall occur with respect to, or proceedings shall commence to have a trustee appointed, or a trustee shall be
appointed, to administer or to terminate, any Single Employer Plan, which Reportable Event or commencement of proceedings or appointment of a Trustee is, in the reasonable opinion of the Required Lenders, likely to result in the termination of such
Plan for purposes of Title IV of ERISA, (iv) any Single Employer Plan shall terminate for purposes of Title IV of ERISA, or (v) the Borrower or any of its ERISA Affiliates shall incur any liability in connection with a withdrawal from, or
the Insolvency or Reorganization of, any Multiemployer Plan; and in each case in clauses (i) through (v) above, such event or condition, together with all other such events or conditions, if any, could reasonably be expected to have a
Material Adverse Effect; or 

  
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 (h) There shall occur a Change of Control; or 

(i) The Guaranty or any material provision thereof shall cease to be in full force and effect or any Guarantor or any Person acting by or
on behalf of any Guarantor shall deny or disaffirm any Guarantor’s obligations under the Guaranty; or 
 (j) Any other
Credit Document or the Fee Letter shall fail to be in full force and effect or to give the Administrative Agent and/or the Lenders the material rights, powers and privileges purported to be created thereby, or any Credit Party or any Person acting
by or on behalf of any Credit Party shall deny or disaffirm any Credit Party Obligation. 
  

	 	7.2	Acceleration; Remedies. 

Upon the occurrence and during the continuance of an Event of Default, the Administrative Agent may, or upon the request and direction of
the Required Lenders shall, by written notice to the Borrower take any of the following actions (including any combination of such actions): 
 (a) Termination of Commitments. Declare the Commitments terminated whereupon the Commitments shall be immediately terminated. 

(b) Acceleration. Declare the unpaid principal of and any accrued interest in respect of all Loans and any and all
other indebtedness or obligations (including, without limitation, Fees) of any and every kind owing by any Credit Party to the Administrative Agent and/or any of the Lenders hereunder to be due and direct the Borrower to pay to the Administrative
Agent Cash Collateral as security for the LOC Obligations for subsequent drawings under then outstanding Letters of Credit an amount equal to 103% of the Dollar Amount (determined as of the most recent Revaluation Date) of the maximum amount which
may be drawn under Letters of Credit then outstanding, whereupon the same shall be immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived by each Credit Party. 

(c) Enforcement of Rights. Exercise any and all rights and remedies created and existing under the Credit
Documents, whether at law or in equity. 
 (d) Rights Under Applicable Law. Exercise any and all rights
and remedies available to the Administrative Agent or the Lenders under applicable law. 
 Notwithstanding the foregoing, if an Event of Default
specified in Section 7.1(e) shall occur, then the Commitments shall automatically terminate, all Loans, all accrued interest in respect thereof, all accrued and unpaid Fees and other indebtedness or obligations owing to the Administrative Agent
and/or any of the Lenders hereunder automatically shall immediately become due and payable and the Borrower’s obligation to provide Cash Collateral described in clause (b) above shall become effective immediately, in each case, without
presentment, demand, 

  
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protest or the giving of any notice or other action by the Administrative Agent or the Lenders, all of which are hereby waived by the Borrower. 

SECTION 8  
 AGENCY PROVISIONS 
  

	 	8.1	Appointment and Authorization. 

 Each Lender hereby irrevocably appoints and authorizes the Administrative Agent to take such action as contractual representative on such Lender’s behalf and to exercise such powers under this
Agreement and the other Credit Documents as are specifically delegated to the Administrative Agent by the terms hereof and thereof, together with such powers as are reasonably incidental thereto. Not in limitation of the foregoing, each Lender
authorizes and directs the Administrative Agent to enter into the Credit Documents for the benefit of the Lenders. Each Lender hereby agrees that, except as otherwise set forth herein, any action taken by the Required Lenders in accordance with the
provisions of this Agreement or the Credit Documents, and the exercise by the Required Lenders of the powers set forth herein or therein, together with such other powers as are reasonably incidental thereto, shall be authorized and binding upon all
of the Lenders. Nothing herein shall be construed to deem the Administrative Agent a trustee or fiduciary for any Lender or to impose on the Administrative Agent duties or obligations other than those expressly provided for herein. Without limiting
the generality of the foregoing, the use of the terms “Agent”, “Administrative Agent”, “agent” and similar terms in the Credit Documents with reference to the Administrative Agent is not intended to connote any
fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable laws. Instead, use of such terms is merely a matter of market custom, and is intended to create or reflect only an administrative relationship
between independent contracting parties. The Administrative Agent shall deliver to each Lender, promptly upon receipt thereof by the Administrative Agent, copies of each of the financial statements, certificates, notices and other documents
delivered to the Administrative Agent pursuant to Section 5 that the Borrower is not otherwise required to deliver directly to the Lenders. The Administrative Agent will furnish to any Lender, upon the request of such Lender, a copy (or, where
appropriate, an original) of any document, instrument, agreement, certificate or notice furnished to the Administrative Agent by the Borrower, any other Credit Party or any other Affiliate of the Borrower, pursuant to this Agreement or any other
Credit Document not already delivered or otherwise made available to such Lender pursuant to the terms of this Agreement or any such other Credit Document. As to any matters not expressly provided for by the Credit Documents (including, without
limitation, enforcement or collection of any of the Credit Party Obligations), the Administrative Agent shall not be required to exercise any discretion or take any action, but shall be required to act or to refrain from acting (and shall be fully
protected in so acting or refraining from acting) upon the instructions of the Required Lenders (or all of the Lenders if explicitly required under any other provision of this Agreement), and such instructions shall be binding upon all Lenders and
all holders of any of the Credit Party Obligations; provided, however, that, notwithstanding anything in this Agreement to the contrary, the Administrative Agent shall not be required to take any action which exposes the Administrative Agent to
personal liability or which is contrary to this Agreement or any other Credit Document or applicable laws. Not in limitation of the foregoing, the Administrative Agent may exercise any right or remedy it or the Lenders may

  
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have under any Credit Document upon the occurrence of a Default or an Event of Default unless the Required Lenders have directed the Administrative Agent otherwise. Without limiting the
foregoing, no Lender shall have any right of action whatsoever against the Administrative Agent as a result of the Administrative Agent acting or refraining from acting under this Agreement or any of the other Credit Documents in accordance with the
instructions of the Required Lenders, or where applicable, all the Lenders. 
  

	 	8.2	Wells Fargo as Lender. 

Wells Fargo, as a Lender or as a Hedging Agreement Provider, as the case may be, shall have the same rights and powers under this
Agreement and any other Credit Document and under any Hedging Agreement, as the case may be, as any other Lender or Hedging Agreement Provider and may exercise the same as though it were not the Administrative Agent; and the term “Lender”
or “Lenders” shall, unless otherwise expressly indicated, include Wells Fargo in each case in its individual capacity. Wells Fargo and its Affiliates may each accept deposits from, maintain deposits or credit balances for, invest in, lend
money to, act as trustee under indentures of, serve as financial advisor to, and generally engage in any kind of business with the Borrower, any other Credit Party or any other Affiliate thereof as if it were any other bank and without any duty to
account therefor to the Issuing Lenders, other Lenders, or any other Hedging Agreement Providers. Further, the Administrative Agent and any Affiliate may accept fees and other consideration from the Borrower for services in connection with this
Agreement or any Hedging Agreement, or otherwise without having to account for the same to the Issuing Lenders, the other Lenders or any other Hedging Agreement Providers. The Issuing Lenders and the Lenders acknowledge that, pursuant to such
activities, Wells Fargo or its Affiliates may receive information regarding the Borrower, other Credit Parties, other Subsidiaries and other Affiliates (including information that may be subject to confidentiality obligations in favor of such
Person) and acknowledge that the Administrative Agent shall be under no obligation to provide such information to them. 
  

	 	8.3	Approvals of Lenders. 

All communications from the Administrative Agent to any Lender requesting such Lender’s determination, consent, approval or
disapproval (a) shall be given in the form of a written notice to such Lender, (b) shall be accompanied by a description of the matter or issue as to which such determination, approval, consent or disapproval is requested, or shall advise
such Lender where information, if any, regarding such matter or issue may be inspected, or shall otherwise describe the matter or issue to be resolved, (c) shall include, if reasonably requested by such Lender and to the extent not previously
provided to such Lender, written materials and, as appropriate, a brief summary of all oral information provided to the Administrative Agent by the Borrower in respect of the matter or issue to be resolved, and (d) shall include the
Administrative Agent’s recommended course of action or determination in respect thereof. 
  

	 	8.4	Notice of Events of Default. 

 The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of a Default or Event of Default unless the Administrative Agent has received notice

  
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from a Lender or the Borrower referring to this Agreement, describing with reasonable specificity such Default or Event of Default and stating that such notice is a “notice of default.”
If any Lender (excluding the Lender which is also serving as the Administrative Agent) becomes aware of any Default or Event of Default, it shall promptly send to the Administrative Agent such a “notice of default”. Further, if the
Administrative Agent receives such a “notice of default,” the Administrative Agent shall give prompt notice thereof to the Lenders. 
  

	 	8.5	Administrative Agent’s Reliance. 

 Notwithstanding any other provisions of this Agreement or any other Credit Documents, neither the Administrative Agent nor any of its directors, officers, agents, employees or counsel shall be liable for
any action taken or not taken by it under or in connection with this Agreement or any other Credit Document, except for its or their own gross negligence or willful misconduct in connection with its duties expressly set forth herein or therein as
determined by a court of competent jurisdiction in a final non-appealable judgment. Without limiting the generality of the foregoing, the Administrative Agent may consult with legal counsel (including its own counsel or counsel for the Borrower or
any other Credit Party), independent public accountants and other experts selected by it and shall not be liable for any action taken or omitted to be taken in good faith by it in accordance with the advice of such counsel, accountants or experts.
Neither the Administrative Agent nor any of its directors, officers, agents, employees or counsel: (a) makes any warranty or representation to any Lender, any Issuing Lender or any other Person, or shall be responsible to any Lender, any
Issuing Lender or any other Person for any statement, warranty or representation made or deemed made by the Borrower, any other Credit Party or any other Person in or in connection with this Agreement or any other Credit Document; (b) shall
have any duty to ascertain or to inquire as to the performance or observance of any of the terms, covenants or conditions of this Agreement or any other Credit Document or the satisfaction of any conditions precedent under this Agreement or any
Credit Document on the part of the Borrower or other Persons, or to inspect the property, books or records of the Borrower or any other Person; (c) shall be responsible to any Lender or any Issuing Lender for the due execution, legality,
validity, enforceability, genuineness, sufficiency or value of this Agreement or any other Credit Document, any other instrument or document furnished pursuant thereto; (d) shall have any liability in respect of any recitals, statements,
certifications, representations or warranties contained in any of the Credit Documents or any other document, instrument, agreement, certificate or statement delivered in connection therewith; and (e) shall incur any liability under or in
respect of this Agreement or any other Credit Document by acting upon any notice, consent, certificate or other instrument or writing (which may be by telephone, telecopy or electronic mail) believed by it to be genuine and signed, sent or given by
the proper party or parties. The Administrative Agent may execute any of its duties under the Credit Documents by or through agents, employees or attorneys-in-fact and shall not be responsible for the negligence or misconduct of any agent or
attorney-in-fact that it selects in the absence of gross negligence or willful misconduct as determined by a court of competent jurisdiction in a final non-appealable judgment. 

  
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	 	8.6	Indemnification of Administrative Agent. 

 Each Lender agrees to indemnify the Administrative Agent (to the extent not reimbursed by the Borrower and without limiting the obligation of the Borrower to do so) pro rata in accordance with such
Lender’s respective Commitment Percentage, from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, reasonable out-of-pocket costs and expenses of any kind or nature whatsoever which may at
any time be imposed on, incurred by, or asserted against the Administrative Agent (in its capacity as Administrative Agent but not as a Lender) in any way relating to or arising out of the Credit Documents, any transaction contemplated hereby or
thereby or any action taken or omitted by the Administrative Agent under the Credit Documents (collectively, “Indemnifiable Amounts”); provided, however, that no Lender shall be liable for any portion of such Indemnifiable Amounts to the
extent resulting from the Administrative Agent’s gross negligence or willful misconduct as determined by a court of competent jurisdiction in a final, non-appealable judgment; provided, further, that no action taken in accordance with the
directions of the Required Lenders (or all of the Lenders, if expressly required hereunder) shall be deemed to constitute gross negligence or willful misconduct for purposes of this Section. Without limiting the generality of the foregoing, each
Lender agrees to reimburse the Administrative Agent (to the extent not reimbursed by the Borrower and without limiting the obligation of the Borrower to do so) promptly upon demand for its ratable share of any out-of-pocket expenses (including the
reasonable fees and expenses of the counsel to the Administrative Agent) incurred by the Administrative Agent in connection with the preparation, negotiation, execution, administration, or enforcement (whether through negotiations, legal
proceedings, or otherwise) of, or legal advice with respect to the rights or responsibilities of the parties under, the Credit Documents, any suit or action brought by the Administrative Agent to enforce the terms of the Credit Documents and/or
collect any Credit Party Obligations, any “lender liability” suit or claim brought against the Administrative Agent and/or the Lenders, and any claim or suit brought against the Administrative Agent and/or the Lenders arising under any
Environmental Laws. Such out-of-pocket expenses (including counsel fees) shall be advanced by the Lenders on the request of the Administrative Agent notwithstanding any claim or assertion that the Administrative Agent is not entitled to
indemnification hereunder upon receipt of an undertaking by the Administrative Agent that the Administrative Agent will reimburse the Lenders if it is actually and finally determined by a court of competent jurisdiction that the Administrative Agent
is not so entitled to indemnification. The agreements in this Section shall survive the payment of the Loans and all other amounts payable hereunder or under the other Credit Documents and the termination of this Agreement. If the Borrower shall
reimburse the Administrative Agent for any Indemnifiable Amount following payment by any Lender to the Administrative Agent in respect of such Indemnifiable Amount pursuant to this Section, the Administrative Agent shall share such reimbursement on
a ratable basis with each Lender making any such payment. 
  

	 	8.7	Lender Credit Decision, Etc. 

 Each of the Lenders and the Issuing Lenders expressly acknowledges and agrees that neither the Administrative Agent nor any of its officers, directors, employees, agents, counsel, attorneys-in-fact or
other Affiliates has made any representations or warranties to such Issuing Lender or such Lender and that no act by the Administrative Agent hereafter taken, including 

  
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any review of the affairs of the Borrower, any other Credit Party or any other Subsidiary or Affiliate, shall be deemed to constitute any such representation or warranty by the Administrative
Agent to any Issuing Lender or any Lender. Each of the Lenders and the Issuing Lenders acknowledges that it has made its own credit and legal analysis and decision to enter into this Agreement and the transactions contemplated hereby, independently
and without reliance upon the Administrative Agent, any other Lender or counsel to the Administrative Agent, or any of their respective officers, directors, employees, agents or counsel, and based on the financial statements of the Borrower, the
other Credit Parties, the other Subsidiaries and other Affiliates, and inquiries of such Persons, its independent due diligence of the business and affairs of the Borrower, the other Credit Parties, the other Subsidiaries and other Persons, its
review of the Credit Documents, the legal opinions required to be delivered to it hereunder, the advice of its own counsel and such other documents and information as it has deemed appropriate. Each of the Lenders and the Issuing Lenders also
acknowledges that it will, independently and without reliance upon the Administrative Agent, any other Lender or counsel to the Administrative Agent or any of their respective officers, directors, employees and agents, and based on such review,
advice, documents and information as it shall deem appropriate at the time, continue to make its own decisions in taking or not taking action under the Credit Documents. The Administrative Agent shall not be required to keep itself informed as to
the performance or observance by the Borrower or any other Credit Party of the Credit Documents or any other document referred to or provided for therein or to inspect the properties or books of, or make any other investigation of, the Borrower, any
other Credit Party or any other Subsidiary. Except for notices, reports and other documents and information expressly required to be furnished to the Lenders and the Issuing Lenders by the Administrative Agent under this Agreement or any of the
other Credit Documents, the Administrative Agent shall have no duty or responsibility to provide any Lender or any Issuing Lender with any credit or other information concerning the business, operations, property, financial and other condition or
creditworthiness of the Borrower, any other Credit Party or any other Affiliate thereof which may come into possession of the Administrative Agent or any of its officers, directors, employees, agents, attorneys-in-fact or other Affiliates. Each of
the Lenders and the Issuing Lenders acknowledges that the Administrative Agent’s legal counsel in connection with the transactions contemplated by this Agreement is only acting as counsel to the Administrative Agent and is not acting as counsel
to any Lender or any Issuing Lender. 
  

	 	8.8	Successor Administrative Agent. 

 The Administrative Agent may resign at any time as Administrative Agent under the Credit Documents by giving written notice thereof to the Lenders and the Borrower. Upon any such resignation, the Required
Lenders shall have the right to appoint a successor Administrative Agent which appointment shall, provided no Event of Default exists, be subject to the Borrower’s approval, which approval shall not be unreasonably withheld or delayed (except
that the Borrower shall, in all events, be deemed to have approved each Lender and any of its Affiliates as a successor Administrative Agent). If no successor Administrative Agent shall have been so appointed in accordance with the immediately
preceding sentence, and shall have accepted such appointment, within 30 days after the current Administrative Agent’s giving of notice of resignation, then the current Administrative Agent may, on behalf of the Lenders and the Issuing Lenders,
appoint a successor Administrative Agent, which shall be a Lender, if any Lender shall be willing to serve, and otherwise shall be an Eligible Assignee. Upon the 

  
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acceptance of any appointment as Administrative Agent hereunder by a successor Administrative Agent, such successor Administrative Agent shall thereupon succeed to and become vested with all the
rights, powers, privileges and duties of the current Administrative Agent, and the current Administrative Agent shall be discharged from its duties and obligations under the Credit Documents. Such successor Administrative Agent shall issue letters
of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or shall make other arrangements satisfactory to the current Administrative Agent, in either case, to assume effectively the obligations of the
current Administrative Agent with respect to such Letters of Credit. After any Administrative Agent’s resignation hereunder as Administrative Agent, the provisions of this Section 8 shall continue to inure to its benefit as to any actions
taken or omitted to be taken by it while it was Administrative Agent under the Credit Documents. Notwithstanding anything contained herein to the contrary, the Administrative Agent may assign its rights and duties under the Credit Documents to any
of its Affiliates by giving the Borrower and each Lender prior written notice. 
  

	 	8.9	Titled Agents. 

 Each of
the Syndication Agent, Co-Lead Arrangers, Joint Book Runners and Co-Documentation Agents (each a “Titled Agent”) in each such respective capacity, assumes no responsibility or obligation hereunder, including, without limitation, for
servicing, enforcement or collection of any of the Loans, nor any duties as an agent hereunder for the Lenders. The titles given to the Titled Agents are solely honorific and imply no fiduciary responsibility on the part of the Titled Agents to the
Administrative Agent, any Lender, any Issuing Lender, the Borrower or any other Credit Party and the use of such titles does not impose on the Titled Agents any duties or obligations greater than those of any other Lender or entitle the Titled
Agents to any rights other than those to which any other Lender is entitled. 
  

	 	8.10	Patriot Act Notice. 

 Each
Lender and the Administrative Agent (for itself and not on behalf of any other party) hereby notifies the Borrower that, pursuant to the requirements of the USA Patriot Act, Title III of Pub. L. 107-56, signed into law October 26,
2001 (the “Patriot Act”), it is required to obtain, verify and record information that identifies the Borrower, which information includes the name and address of the Borrower and other information that will allow such Lender or the
Administrative Agent, as applicable, to identify the Borrower in accordance with the Patriot Act. In addition, in order for the Administrative Agent to comply with the Patriot Act, prior to any Lender or Participant that is organized under the laws
of a jurisdiction outside of the United States of America becoming a party hereto, the Administrative Agent may request, and such Lender or Participant shall provide to the Administrative Agent, its name, address, tax identification number and/or
such other identification information as shall be necessary for the Administrative Agent to comply with federal law. 

  
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 SECTION 9  

GUARANTY 
  

	 	9.1	The Guaranty. 

 In order
to induce the Lenders to enter into this Credit Agreement and any Hedging Agreement Provider to enter into any Hedging Agreement and to extend credit hereunder and thereunder and in recognition of the direct benefits to be received by the Guarantors
from the Extensions of Credit hereunder and any Hedging Agreement, each of the Guarantors hereby agrees with the Administrative Agent and the Lenders as follows: the Guarantor hereby unconditionally and irrevocably jointly and severally guarantees
as primary obligor and not merely as surety the full and prompt payment when due, whether upon maturity, by acceleration or otherwise, of any and all Credit Party Obligations owed to the Administrative Agent, the Lenders hereunder and the Hedging
Agreement Providers under any Hedging Agreement. If any or all of the Credit Party Obligations become due and payable hereunder or under any Hedging Agreement with a Hedging Agreement Provider, each Guarantor unconditionally promises to pay such
Credit Party Obligations to the Administrative Agent, the Lenders, the Hedging Agreement Providers, or their respective order, or demand, together with any and all reasonable expenses which may be incurred by the Administrative Agent, the Lenders or
the Hedging Agreement Providers in collecting any of the Credit Party Obligations. As used in this Section 9, Credit Party Obligations shall include all Credit Party Obligations now, or hereafter made, incurred or created, whether voluntarily
or involuntarily, absolute or contingent, liquidated or unliquidated, determined or undetermined, whether or not such Credit Party Obligations are from time to time reduced, or extinguished and thereafter increased or incurred, whether the Borrower
and the Guarantors may be liable individually or jointly with others, whether or not recovery upon such Credit Party Obligations may be or hereafter become barred by any statute of limitations, and whether or not such Credit Party Obligations may be
or hereafter become otherwise unenforceable. This guaranty is a guaranty of payment and performance and not of collection. 

Notwithstanding any provision to the contrary contained herein or in any other of the Credit Documents, to the extent the obligations of
a Guarantor shall be adjudicated to be invalid or unenforceable for any reason (including, without limitation, because of any applicable law relating to fraudulent conveyances or transfers) then the obligations of each such Guarantor hereunder shall
be limited to the maximum amount that is permissible under applicable law (including, without limitation, the Bankruptcy Code or its non-U.S. equivalent). 
  

	 	9.2	Bankruptcy. 

Additionally, each of the Guarantors unconditionally and irrevocably guarantees jointly and severally the payment of any and all Credit
Party Obligations of the Borrower to the Lenders and any Hedging Agreement Provider whether or not due or payable by the Borrower upon the occurrence of any of the events specified in Section 7.1(e) as applicable to the Borrower or any
Subsidiaries of the Borrower, and unconditionally promises to pay such Credit Party Obligations to the Administrative Agent for the account of the Lenders and to any such Hedging Agreement Provider, or order, on demand, in lawful money of the
United States. Each of the Guarantors further agrees that to the extent that the Borrower or a Guarantor shall make a payment or a 

  
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transfer of an interest in any property to the Administrative Agent, any Lender or any Hedging Agreement Provider, which payment or transfer or any part thereof is subsequently invalidated,
declared to be fraudulent or preferential, or otherwise is avoided, and/or required to be repaid to the Borrower or a Guarantor, the estate of the Borrower or a Guarantor, a trustee, receiver or any other party under any bankruptcy law, state or
federal law, common law or other applicable law or equitable cause, then to the extent of such avoidance or repayment, the obligation or part thereof intended to be satisfied shall be revived and continued in full force and effect as if said payment
had not been made. 
  

	 	9.3	Nature of Liability. 

 The
liability of each Guarantor hereunder is absolute and unconditional and exclusive and independent of any security for or other guaranty of the Credit Party Obligations of the Borrower whether executed by any such Guarantor, any other guarantor or by
any other party, and no Guarantor’s liability hereunder shall be affected or impaired by (a) any direction as to application of payment by the Borrower or by any other party, or (b) any other continuing or other guaranty, undertaking
or maximum liability of a guarantor or of any other party as to the Credit Party Obligations of the Borrower, or (c) any payment on or in reduction of any such other guaranty or undertaking, or (d) any dissolution, termination or increase,
decrease or change in personnel by the Borrower, or (e) any payment made to the Administrative Agent, the Lenders or any Hedging Agreement Provider on the Credit Party Obligations that the Administrative Agent, such Lenders or such Hedging
Agreement Provider repay the Borrower pursuant to court order in any bankruptcy, reorganization, arrangement, moratorium or other debtor relief proceeding, and each of the Guarantors waives any right to the deferral or modification of its
obligations hereunder by reason of any such proceeding or (f) any other circumstance (including any statute of limitations) that might otherwise constitute a defense available to, or a discharge of, a guarantor or a borrower other than the
payment in full of the Credit Party Obligations. 
 The guaranty under this Section 9 is a continuing and irrevocable
guaranty of all Credit Party Obligations now or hereafter existing and shall remain in full force and effect until all Credit Party Obligations and any other amounts payable under this Section 9 are indefeasibly paid in full in cash and any
commitments of the Lenders or facilities provided by the Lenders with respect to the Credit Party Obligations are terminated. Notwithstanding the foregoing, this guaranty shall continue in full force and effect or be revived, as the case may be, if
any payment by or on behalf of the Borrower or the Guarantors is made, or the Administrative Agent, on behalf of the Lenders, exercises its right of set-off, in respect of the Credit Party Obligations and such payment or the proceeds of such setoff
or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent in its discretion) to be repaid to a trustee, receiver
or any other party, in connection with any proceeding under the Bankruptcy Code or otherwise, all as if such payment had not been made or such setoff had not occurred and whether or not the Administrative Agent, on behalf of the Lenders, is in
possession of or has released this guaranty and regardless of any prior revocation, rescission, termination or reduction; provided, however, that neither the Administrative Agent nor any Lender shall have any set-off rights against
accounts of any Credit Party under hotel management agreements pursuant to which such Credit Party is acting as agent for a third party with respect to the amounts in such account. The 

  
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obligations of the Guarantors under the preceding sentence shall survive termination of this Credit Agreement. 
  

	 	9.4	Independent Obligation. 

The obligations of each Guarantor hereunder are independent of the obligations of any other guarantor or the Borrower, and a separate
action or actions may be brought and prosecuted against each Guarantor whether or not action is brought against any other guarantor or the Borrower and whether or not any other Guarantor or the Borrower is joined in any such action or actions.

  

	 	9.5	Authorization. 

 Each of
the Guarantors authorizes the Administrative Agent, each Lender and each Hedging Agreement Provider without notice or demand (except as shall be required by applicable law and cannot be waived), and without affecting or impairing its liability
hereunder, from time to time to (a) renew, compromise, extend, increase, accelerate or otherwise change the time for payment of, or otherwise change the terms of the Credit Party Obligations or any part thereof in accordance with this Credit
Agreement and any Hedging Agreement, as applicable, including any increase or decrease of the rate of interest thereon, (b) take and hold security from any Guarantor or any other party for the payment of this Guaranty or the Credit Party
Obligations and exchange, enforce waive and release any such security, (c) apply such security and direct the order or manner of sale thereof as the Administrative Agent and the Lenders in their discretion may determine and (d) release or
substitute any one or more endorsers, Guarantors, the Borrower or other obligors. 
  

	 	9.6	Reliance. 

 It is not
necessary for the Administrative Agent, the Lenders or any Hedging Agreement Providers to inquire into the capacity or powers of the Borrower or the officers, directors, members, partners or agents acting or purporting to act on its behalf, and any
indebtedness made or created in reliance upon the professed exercise of such powers shall be guaranteed hereunder. 
  

	 	9.7	Waiver. 

 (a) Each of the
Guarantors waives any right (except as shall be required by applicable law and cannot be waived) to require the Administrative Agent, any Lender or any Hedging Agreement Provider to (i) proceed against the Borrower, any other guarantor or any
other party, (ii) proceed against or exhaust any security held from the Borrower, any other guarantor or any other party, or (iii) pursue any other remedy in the Administrative Agent’s, any Lender’s or any Hedging Agreement
Provider’s power whatsoever. Each of the Guarantors waives any defense based on or arising out of any defense of the Borrower, any other guarantor or any other party other than payment in full in cash of the Credit Party Obligations, including
without limitation any defense based on or arising out of the disability of the Borrower, any other guarantor or any other party, or the unenforceability of the Credit Party Obligations or any part thereof from any cause, or the cessation from any
cause of the liability of the Borrower other than payment in full 

  
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of the Credit Party Obligations. The Administrative Agent or any of the Lenders may, at their election, foreclose on any security held by the Administrative Agent or a Lender by one or more
judicial or nonjudicial sales, whether or not every aspect of any such sale is commercially reasonable (to the extent such sale is permitted by applicable law), or exercise any other right or remedy the Administrative Agent and any Lender may have
against the Borrower or any other party, or any security, without affecting or impairing in any way the liability of any Guarantor hereunder except to the extent the Credit Party Obligations have been paid in full. Each of the Guarantors, to the
extent permitted by law, waives any defense arising out of any such election by the Administrative Agent and each of the Lenders, even though such election operates to impair or extinguish any right of reimbursement or subrogation or other right or
remedy of the Guarantors against the Borrower or any other party or any security. 
 (b) Each of the Guarantors waives all
presentments, demands for performance, protests and notices, including without limitation notices of nonperformance, notice of protest, notices of dishonor, notices of acceptance of this Guaranty, and notices of the existence, creation or incurring
of new or additional Credit Party Obligations. Each Guarantor assumes all responsibility for being and keeping itself informed of the Borrower’s financial condition and assets, and of all other circumstances bearing upon the risk of nonpayment
of the Credit Party Obligations and the nature, scope and extent of the risks which such Guarantor assumes and incurs hereunder, and agrees that neither the Administrative Agent nor any Lender shall have any duty to advise such Guarantor of
information known to it regarding such circumstances or risks. 
 (c) Each of the Guarantors hereby agrees it will not exercise
any rights of subrogation which it may at any time otherwise have as a result of this Guaranty (whether contractual, under Section 509 of the U.S. Bankruptcy Code, or otherwise) to the claims of the Lenders or the Hedging Agreement Provider
against the Borrower or any other guarantor of the Credit Party Obligations of the Borrower owing to the Lenders or such Hedging Agreement Provider (collectively, the “Other Parties”) and all contractual, statutory or common law
rights of reimbursement, contribution or indemnity from any Other Party which it may at any time otherwise have as a result of this Guaranty until such time as the Credit Party Obligations shall have been indefeasibly paid in full in cash, no Credit
Document or Hedging Agreement with a Hedging Agreement Provider remains in effect and the Commitments have been terminated. Each of the Guarantors hereby further agrees not to exercise any right to enforce any other remedy which the Administrative
Agent, the Lenders or any Hedging Agreement Provider now have or may hereafter have against any Other Party, any endorser or any other guarantor of all or any part of the Credit Party Obligations of the Borrower and any benefit of, and any right to
participate in, any security or collateral given to or for the benefit of the Lenders and/or the Hedging Agreement Providers to secure payment of the Credit Party Obligations of the Borrower until such time as the Credit Party Obligations shall have
been indefeasibly paid in full in cash, no Credit Document or Hedging Agreement with a Hedging Agreement Provider remains in effect and the Commitments have been terminated. 

 

	 	9.8	Limitation on Enforcement. 

The Lenders and the Hedging Agreement Providers agree that this Guaranty may be enforced only by the action of the Administrative Agent
acting upon the instructions of the 

  
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Required Lenders or any such Hedging Agreement Provider (only with respect to obligations under the applicable Hedging Agreement entered into with such Hedging Agreement Provider) and that no
Lender or Hedging Agreement Provider shall have any right individually to seek to enforce or to enforce this Guaranty, it being understood and agreed that such rights and remedies may be exercised by the Administrative Agent for the benefit of the
Lenders under the terms of this Credit Agreement and for the benefit of any Hedging Agreement Provider under any Hedging Agreement provided by such Hedging Agreement Provider. The Lenders and the Hedging Agreement Providers further agree that this
Guaranty may not be enforced against any director, officer, employee or stockholder of the Guarantors or any Pritzker Affiliate other than the Guarantors. 
  

	 	9.9	Confirmation of Payment. 

The Administrative Agent and the Lenders will, upon request after payment of the Credit Party Obligations under the Credit Documents which
are the subject of this Guaranty and termination of the Commitments relating thereto, confirm to the Borrower, the Guarantors or any other Person that the Credit Party Obligations under the Credit Documents have been paid in full and the Commitments
relating thereto terminated, subject to the provisions of Section 9.2. 
  

	 	9.10	Guaranty Matters. 

 The
Lenders irrevocably authorize the Administrative Agent, at its option and in its discretion to release any Guarantor from its obligations under the Guaranty if such Person ceases to be a Subsidiary as a result of a transaction permitted hereunder.
Upon request by the Administrative Agent at any time, the Required Lenders will confirm in writing the Administrative Agent’s authority to release any Guarantor from its obligations under the Guaranty pursuant to this Section 9.10.

 SECTION 10  
 MISCELLANEOUS 
  

	 	10.1	Amendments and Waivers. 

Neither this Credit Agreement, nor any of the other Credit Documents, nor any terms hereof or thereof may be amended, supplemented, waived
or modified except in accordance with the provisions of this Section. The Required Lenders may, or, with the written consent of the Required Lenders, the Administrative Agent may, from time to time, (a) enter into with the Borrower written
amendments, supplements or modifications hereto and to the other Credit Documents for the purpose of adding any provisions to this Credit Agreement or the other Credit Documents or changing in any manner the rights of the Lenders or of the Borrower
hereunder or thereunder or (b) waive, on such terms and conditions as the Required Lenders may specify in such instrument, any of the requirements of this Credit Agreement or the other Credit Documents or any Default or Event of Default and its
consequences; provided, however, that no such waiver and no such amendment, waiver, supplement, modification or release shall: 

  
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 (i) reduce the amount or extend the scheduled date of maturity of any Loan
or Note or any installment thereon, or reduce the stated rate of any interest or fee payable hereunder (except in connection with a waiver of interest at the increased post-default rate) or extend the scheduled date of any payment thereof or
increase the amount or extend the expiration date of any Lender’s Commitment, in each case without the written consent of each Lender directly affected thereby; or 

(ii) amend, modify or waive any provision of this Section 10.1 or reduce the percentage specified in the definition
of Required Lenders, without the written consent of all the Lenders; or 
 (iii) amend, modify or waive any
provision of Section 9 without the written consent of the then Administrative Agent; or 
 (iv) release all
or substantially all of the Guarantors from their obligations under the Guaranty (provided that (A) the release of less than substantially all of the Guarantors shall solely require the consent of the Required Lenders and (B) no
consent of the Lenders shall be required for the release of any Guarantor that ceases to be a Subsidiary as a result of a transaction not prohibited hereunder provided no Event of Default shall exist or arise as a result of such release) without the
written consent of all the Lenders; or 
 (v) amend, modify or waive any provision of the Credit Documents
requiring consent, approval or request of the Required Lenders or all Lenders, without the written consent of the Required Lenders or of all Lenders as appropriate; or 

(vi) amend or modify the definition of Credit Party Obligations to delete or exclude any obligation or liability described
therein without the written consent of each Lender and each Hedging Agreement Provider directly affected thereby; or 
 (vii) amend, modify or waive the order in which Credit Party Obligations are paid in Section 2.12(b) without the written consent of each Lender and each Hedging Agreement Provider directly affected
thereby; 
 provided, further, that no amendment, waiver or consent affecting the rights or duties of the Administrative Agent,
any Issuing Lender (in such capacity) or the Swingline Lender (in such capacity) under any Credit Document shall in any event be effective, unless in writing and signed by the Administrative Agent, such Issuing Lender or the Swingline Lender, as
applicable, in addition to the Lenders required hereinabove to take such action. 
 Any such waiver, any such amendment,
supplement or modification and any such release shall apply equally to each of the Lenders and shall be binding upon the Borrower, the Lenders, the other Credit Parties, the Administrative Agent and all future holders of the Loans. In the case of
any waiver, the Borrower, the other Credit Parties, the Lenders and the Administrative Agent shall be restored to their former position and rights hereunder and under the outstanding Loans and Notes and other Credit Documents, and any Default or
Event of Default permanently waived 

  
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shall be deemed to be cured and not continuing; but no such waiver shall extend to any subsequent or other Default or Event of Default, or impair any right consequent thereon. 

Notwithstanding any of the foregoing to the contrary, the consent of the Borrower shall not be required for any amendment, modification
or waiver of the provisions of Section 8 (other than the provisions of Section 8.9 and any other provision the effect of which is adverse to the Credit Parties); provided, however, that the Administrative Agent will provide
written notice to the Borrower of any such amendment, modification or waiver. In addition, the Borrower and the Lenders hereby authorize the Administrative Agent to modify this Credit Agreement by unilaterally amending or supplementing
Schedule 2.1(a) from time to time in the manner requested by the Borrower, the Administrative Agent or any Lender in order to reflect any assignments or transfers of the Loans as provided for and permitted hereunder; provided
further, however, that the Administrative Agent shall promptly deliver a copy of any such modification to the Borrower and each Lender. 
 Notwithstanding the fact that the consent of all the Lenders is required in certain circumstances as set forth above, (A) each Lender is entitled to vote as such Lender sees fit on any bankruptcy
reorganization plan that affects the Loans, and each Lender acknowledges that the provisions of Section 1126(c) of the Bankruptcy Code supersedes the unanimous consent provisions set forth herein and (B) the Required Lenders may consent to
allow a Credit Party to use cash collateral in the context of a bankruptcy or insolvency proceeding. 
 The Borrower shall be
permitted to replace with a replacement financial institution acceptable to the Administrative Agent, any Lender (other than the Lender then acting as Administrative Agent) that fails to consent to any proposed amendment, modification, termination,
waiver or consent with respect to any provision hereof or of any other Credit Document that requires the unanimous approval of all of the Lenders, the approval of all of the Lenders affected thereby or the approval of a class of Lenders, in each
case in accordance with the terms of this Section 10.1, so long as the consent of the Required Lenders shall have been obtained with respect to such amendment, modification, termination, waiver or consent; provided that (a) such
replacement does not conflict with any Requirement of Law, (b) the replacement financial institution shall purchase, at par, all Loans and other amounts owing to such Replaced Lender on or prior to the date of replacement, (c) the
replacement financial institution shall approve the proposed amendment, modification, termination, waiver or consent, (d) the Borrower shall be liable to such Replaced Lender under Section 2.17 if any LIBOR Rate Loan owing to such Replaced
Lender shall be purchased other than on the last day of the Interest Period relating thereto, (e) the Replaced Lender shall be obligated to make such replacement in accordance with the provisions of Section 10.6 (provided that the Borrower
shall be obligated to pay the registration and processing fee referred to therein), (f) until such time as such replacement shall be consummated, the Borrower shall pay to the Replaced Lender all additional amounts (if any) required pursuant to
Section 2.15, 2.16 or 2.18(a), as the case may be, (g) the Borrower provides at least three (3) Business Days’ prior notice to such Replaced Lender, and (h) any such replacement shall not be deemed to be a waiver of any
rights that the Borrower, the Administrative Agent or any other Lender shall have against the Replaced Lender. In the event any Replaced Lender fails to execute the agreements required under Section 10.6 in connection with an assignment
pursuant to this Section 10.1 (after two (2) days notice has been given to 

  
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such Replaced Lender), such failure will not impair the validity of the removal of such Replaced Lender and the mandatory assignment of such Replaced Lender’s Commitments and outstanding
Loans shall nevertheless be effective without the execution by such Replaced Lender of the assignment documents required under Section 10.6 so long as (i) evidence of proof of receipt by such Replaced Lender of such assignment agreement is
available and (ii) such Replaced Lender has been paid in full in cash on or prior to the effective date of such replacement. 
  

	 	10.2	Notices. 

 (a) All
notices, requests and demands to or upon the respective parties hereto to be effective shall be in writing (including by telecopy or other electronic communications as provided below), and, unless otherwise expressly provided herein, shall be deemed
to have been duly given or made (a) when delivered by hand, (b) when transmitted via telecopy (or other facsimile device) to the number set out herein, (c) the day following the day on which the same has been delivered prepaid (or
pursuant to an invoice arrangement) to a reputable national overnight air courier service, or (d) the third Business Day following the day on which the same is sent by certified or registered mail, postage prepaid, in each case addressed as
follows in the case of the Borrower, the other Credit Parties and the Administrative Agent, and as set forth in the Administrative Questionnaire in the case of a Lenders, or to such other address as may be hereafter notified by the respective
parties hereto and any future holders of the Loans and Notes: 
 if to the Borrower: 

Hyatt Hotels Corporation 

71 South Wacker Drive, 12th Floor 
 Chicago, Illinois 60606 

Attention:      Larry Somma, 

                    
  Senior Vice President and Treasurer 
 Telephone:    (312) 780-5528

 Telecopy:      (312) 780-5290 

with a copy to: 
 Hyatt Hotels Corporation 
 71 South Wacker
Drive, 12th Floor 

Chicago, Illinois 60606 
 Attention: Rena Reiss, General Counsel 

Telecopier:  (312) 780-5282 

Telephone:  (312) 780-5490 

  
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 and to: 

Latham & Watkins, LLP 
 233 S. Wacker Drive, Suite 5800 
 Chicago, Illinois 60606

 Attention:  Brad Kotler 

Telecopier:  (312) 993-9767 

Telephone:  (312) 876-7651 

if to the Administrative Agent: 
 Wells Fargo Bank, National Association, as Administrative Agent 

1750 H. Street, NW, Suite 550 
 Washington, D.C. 20006 
 Attn:  Mark Monohan 

Telephone:  202-303-3017 

Telecopy:  202-429-2984 
 with a copy to: 
 Wells Fargo Bank, National Association

 2030 Main Street, Suite 500 

Irvine, California 92614 
 Attn:  Liz Donchey 
 Telephone:  949-251-4337

 Telecopy:  949-251-4983 

and in the case of notices under Section 2: 

Wells Fargo Bank, National Association, as Administrative Agent 

Minneapolis Loan Center 
 733 Marquette Avenue 
 10th Floor, MAC: N9306-102 

Minneapolis, Minnesota 55402 
 Attn:  Joann M. Adams 

Telephone:  612-667-4509 

Telecopy:  866-595-7864 

  
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 with respect to Foreign Currency Loans: 

Wells Fargo Bank, National Association 

Minneapolis Loan Center 
 733 Marquette Avenue 
 10th Floor, MAC: N9306-102 

Minneapolis, Minnesota 55402 
 Attn:  Joann M. Adams 

Telephone:  612-667-4509 

Telecopy:  866-595-7864 
 (b) Notices and other communications to the Lenders or the Administrative Agent hereunder may be delivered or furnished by electronic communication (including e-mail and Internet or intranet websites)
pursuant to procedures approved by the Administrative Agent; provided that the foregoing shall not apply to notices to any Lender pursuant to Section 2 if such Lender, as applicable, has notified the Administrative Agent that it
is incapable of receiving notices under such Section by electronic communication. The Administrative Agent or the Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant
to procedures approved by it; provided that approval of such procedures may be limited to particular notices or communications. 
 Unless the Administrative Agent otherwise prescribes, (i) notices and other communications sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from
the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other written acknowledgement); provided that if such notice or other communication is not sent during the normal business
hours of the recipient, such notice or communication shall be deemed to have been sent at the opening of business on the next Business Day for the recipient, and (ii) notices or communications posted to an Internet or intranet website shall be
deemed received upon the deemed receipt by the intended recipient at its e-mail address as described in the foregoing clause (i) of notification that such notice or communication is available and identifying the website address therefor.

  

	 	10.3	No Waiver; Cumulative Remedies. 

 No failure to exercise and no delay in exercising, on the part of the Administrative Agent or any Lender, any right, remedy, power or privilege hereunder shall operate as a waiver thereof; nor shall any
single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided
are cumulative and not exclusive of any rights, remedies, powers and privileges provided by law. 
  

	 	10.4	Survival of Representations and Warranties. 

 All representations and warranties made hereunder and in any document, certificate or statement delivered pursuant hereto or in connection herewith shall survive the execution and delivery of this Credit
Agreement and the Notes and the making of the Loans; provided that all 

  
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such representations and warranties shall terminate on the date upon which the Commitments have been terminated and all Credit Party Obligations have been paid in full (other than contingent
indemnification obligations a claim for which has not yet been asserted). 
  

	 	10.5	Payment of Expenses and Taxes. 

 The Credit Parties jointly and severally agree (a) to pay or reimburse the Administrative Agent and the Lead Arrangers for all their reasonable out-of-pocket costs and expenses incurred in connection
with the development, preparation, negotiation, printing and execution of, and any amendment, supplement or modification to, this Credit Agreement, the other Credit Documents, the Fee Letter and any other documents prepared in connection herewith or
therewith, and the consummation and administration of the transactions contemplated hereby and thereby, together with the reasonable fees and disbursements of one outside counsel to the Administrative Agent and the Lead Arrangers, (b) to pay or
reimburse each Lender and the Administrative Agent for all of their respective reasonable out-of-pockets costs and expenses incurred in connection with the enforcement or preservation of any rights under this Credit Agreement, the other Credit
Documents and the Fee Letter, including, without limitation, the reasonable fees and disbursements of outside counsel to the Administrative Agent and to each of the Lenders, provided that, absent dissension among the Lenders, or the Administrative
Agent and the Lenders, the Borrower shall only be required to reimburse the Administrative Agent, the Lead Arrangers and each Lender, in the aggregate, for one outside law firm, (c) on demand, to pay, indemnify, and hold each Lender and the
Administrative Agent harmless from, any and all recording and filing fees and any and all liabilities with respect to, or resulting from any delay by the Borrower in paying, stamp, excise and other similar taxes, if any, which may be payable or
determined to be payable in connection with the execution and delivery of, or consummation or administration of any of the transactions contemplated by, or any amendment, supplement or modification of, or any waiver or consent under or in respect
of, the Credit Documents, the Fee Letter and any such other documents, (d) to pay or reimburse each Lender and the Administrative Agent for any reasonable out-of-pocket costs, fees or expenses incurred in connection with any investigation
(including, without limitation, background checks) performed to determine whether the Borrower or any of its Subsidiaries or any officer, director, shareholder or Affiliate of the Borrower or any of its Subsidiaries has violated any Anti-Terrorism
Laws or other similar law and (e) to pay, indemnify, and hold each Lender and the Administrative Agent and their Affiliates harmless from and against, any and all other liabilities, obligations, losses, damages, penalties, actions, judgments,
suits, costs (including, without limitation, settlement costs), expenses or disbursements of any kind or nature whatsoever from third party claims (other than claims by taxing authorities) with respect to the execution, delivery, enforcement,
performance and administration of the Credit Documents, the Fee Letter and any such other documents and the use, or proposed use, of proceeds of the Loans (all of the foregoing, collectively, the “Indemnified Liabilities”);
provided, however, that the Borrower shall not have any obligation hereunder to the Administrative Agent or any Lender with respect to Indemnified Liabilities arising from the gross negligence or willful misconduct of the
Administrative Agent or any such Lender, as determined by a court of competent jurisdiction pursuant to a final non-appealable judgment. The agreements in this Section 10.5 shall survive repayment of the Loans, Notes and all other Credit Party
Obligations. 

  
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	 	10.6	Successors and Assigns. 

(a) Successors and Assigns Generally. The provisions of this Agreement shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and assigns permitted hereby, except that neither the Borrower nor any other Credit Party may assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of
the Administrative Agent and each Lender, and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an Eligible Assignee in accordance with the provisions of the immediately following
subsection (b), (ii) by way of participation in accordance with the provisions of the immediately following subsection (d) or (iii) by way of pledge or assignment of a security interest subject to the restrictions of the
immediately following subsection (f) (and, subject to the last sentence of the immediately following subsection (b), any other attempted assignment or transfer by any party hereto shall be null and void). Nothing in this Agreement,
expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent provided in the immediately following subsection (d) and, to
the extent expressly contemplated hereby, the Related Parties of the Administrative Agent and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement. 

(b) Assignments by Lenders. Any Lender may at any time assign to one or more Eligible Assignees all or a portion of its rights and
obligations under this Agreement (including all or a portion of its Commitment and the Loans at the time owing to it); provided that any such assignment shall be subject to the following conditions: 

(i) Minimum Amounts. 
 (A) in the case of an assignment of the entire remaining amount of the assigning Lender’s Commitment and the Loans at the time owing to it or in the case of an assignment to a Lender, an Affiliate of
a Lender or an Approved Fund, no minimum amount need be assigned; and 
 (B) in any case not described in the
immediately preceding subsection (A), the aggregate amount of the Commitment (which for this purpose includes Loans outstanding thereunder) or, if the applicable Commitment is not then in effect, the principal outstanding balance of the Loans
of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent or, if “Trade Date” is specified in the Assignment
and Assumption, as of the Trade Date) shall not be less than $5,000,000 unless each of the Administrative Agent and, so long as no Default or Event of Default shall exist, the Borrower otherwise consents (each such consent not to be unreasonably
withheld or delayed) (provided that the Borrower’s consent shall not be required if (x) a Default or Event of Default shall exist at the time of such assignment or (y) such assignment is to a Lender, an Affiliate of a Lender or an
Approved Fund, and the Borrower shall be deemed to have consented to any such assignment unless it shall object thereto by written notice to the Administrative Agent within 5 Business Days after having received notice thereof); provided,
however, that if, after giving effect to such 

  
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assignment, the amount of the Commitment held by such assigning Lender or the outstanding principal balance of the Loans of such assigning Lender, as applicable, would be less than $5,000,000,
then such assigning Lender shall assign the entire amount of its Commitment and the Loans at the time owing to it. 
 (ii)
Proportionate Amounts. Each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement with respect to the Loan or the Commitment assigned, except
that this clause (ii) shall not apply to rights in respect of a Competitive Loan. 
 (iii) Required Consents. No
consent shall be required for any assignment except to the extent required by clause (i)(B) of this subsection (b) and, in addition: 
 (A) the consent of the Borrower (such consent not to be unreasonably withheld or delayed) shall be required unless (x) a Default or Event of Default shall exist at the time of such assignment or
(y) such assignment is to a Lender, an Affiliate of a Lender or an Approved Fund; provided that the Borrower shall be deemed to have consented to any such assignment unless it shall object thereto by written notice to the Administrative Agent
within 5 Business Days after having received notice thereof; 
 (B) the consent of the Administrative Agent (such
consent not to be unreasonably withheld or delayed) shall be required for assignments in respect of a Commitment if such assignment is to a Person that is not already a Lender with a Commitment, an Affiliate of such Lender or an Approved Fund with
respect to such Lender; and 
 (C) the consent of (1) the Issuing Lenders (such consent not to be
unreasonably withheld or delayed) shall be required for any assignment that increases the obligation of the assignee to participate in exposure under one or more Letters of Credit (whether or not then outstanding) and (2) the Swingline Lender
(such consent not to be unreasonably withheld or delayed) shall be required for any assignment in respect of a Commitment. 
 (iv) Assignment and Acceptance. The parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Acceptance, together with a processing and recordation fee of
$3,500 for each assignment, and the Eligible Assignee, if it is not a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire. 
 (v) No Assignment to Borrower. No such assignment shall be made to the Borrower or any of the Borrower’s Affiliates (other an Affiliate of The Goldman Sachs Group, Inc. that is a Lender as of
the Closing Date) or Subsidiaries. 
 (vi) No Assignment to Natural Persons. No such assignment shall be
made to a natural person. 

  
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 (vii) No Assignment to Competitors. No such assignment shall be made
to any competitor of the Borrower or any Subsidiary in the hospitality or lodging industry. 
 (viii)
Assignments Involving Defaulting Lenders. In connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no such assignment shall be effective unless and until, in addition to the other conditions thereto set
forth herein, the parties to the assignment shall make such additional payments to the Administrative Agent in an aggregate amount sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of
participations or subparticipations, or other compensating actions, including funding, with the consent of the Borrower and the Administrative Agent, the applicable pro rata share of Loans previously requested but not funded by the Defaulting
Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (A) pay and satisfy in full all payment liabilities then owed by such Defaulting Lender to the Administrative Agent, the Issuing Lenders, the
Swingline Lender and each other Lender hereunder (and interest accrued thereon), and (B) acquire (and fund as appropriate) its full pro rata share of all Loans and participations in Letters of Credit and Swingline Loans in accordance with its
Commitment Percentage; provided that notwithstanding the foregoing provisions of this clause (viii), if any assignment of rights and obligations of any Defaulting Lender hereunder shall become effective under applicable law without compliance
with the provisions of this Section, then the assignee of such interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs. 
 Subject to acceptance and recording thereof by the Administrative Agent pursuant to the immediately following subsection (c), from and after the effective date specified in each Assignment and
Acceptance, the Eligible Assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Acceptance, have the rights and obligations of a Lender under this Agreement, and the assigning Lender
thereunder shall, to the extent of the interest assigned by such Assignment and Acceptance, be released from its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all of the assigning Lender’s rights
and obligations under this Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits of Sections 2.17 and 10.5 with respect to facts and circumstances occurring prior to the effective date of
such assignment. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this paragraph shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights
and obligations in accordance with the immediately following subsection (d); provided, an assignment that does not comply with subsection (b)(vii) shall not be treated as a participation and shall be of no effect. 

(c) Register. The Administrative Agent, acting solely for this purpose as an agent of the Borrower, shall maintain at its address
referred to in Section 10.2 a copy of each Assignment and Acceptance delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal amounts of the Loans owing to, each Lender
pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive, and the Borrower, the Administrative Agent and the Lenders may treat each

  
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Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be
available for inspection by the Borrower and any Lender at any reasonable time and from time to time upon reasonable prior notice. 
 (d) Participations. Any Lender may at any time, without the consent of, or notice to, the Borrower or the Administrative Agent, sell participations to any Person (other than a natural person or the
Borrower or any of the Borrower’s Affiliates or Subsidiaries) (each, a “Participant”) in all or a portion of such Lender’s rights and/or obligations under this Agreement (including all or a portion of its Commitment and/or
the Loans owing to it); provided that (i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations
(iii) the Borrower, the Administrative Agent and the Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement and (iv) no participation may be
sold to any competitor of the Borrower or any Subsidiary in the hospitality or lodging industry. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce
this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment,
modification or waiver of any provision of any Credit Document described in the first proviso of Section 10.1 that adversely affects such Participant. Subject to the immediately following subsection (e), the Borrower agrees that each
Participant shall be entitled to the benefits of Sections 2.15 through 2.18 and 10.5 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section. Upon request from the
Administrative Agent, a Lender shall notify the Administrative Agent and the Borrower of the sale of any participation hereunder. 
 (e) Limitations upon Participant Rights. A Participant shall not be entitled to receive any greater payment under Sections 2.16 and 2.18 than the applicable Lender would have been entitled to
receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the Borrower’s prior written consent. A Participant that would be a Foreign Lender if it were a Lender
shall not be entitled to the benefits of Section 2.18 unless the Borrower is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrower and the Administrative Agent, to comply with
Section 2.18(b) as though it were a Lender. 
 (f) Certain Pledges. Any Lender may at any time pledge or assign a
security interest in all or any portion of its rights under this Agreement to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank; provided that no such pledge or assignment shall
release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 
 (g) No Registration. Each Lender agrees that, without the prior written consent of the Borrower and the Administrative Agent, it will not make any assignment hereunder in any manner or under any
circumstances that would require registration or qualification of, or filings 

  
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in respect of, any Loan or Note under the Securities Act or any other securities laws of the United States of America or of any other jurisdiction. 

 

	 	10.7	Adjustments; Set-off. 

(a) Each Lender agrees that if any Lender (a “Benefited Lender”) shall at any time receive any payment of all or part of
its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 7.1(e), or otherwise) in a greater proportion
than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender’s Loans, or interest thereon, such Benefited Lender shall purchase for cash from the other Lenders a participating interest in such
portion of each such other Lender’s Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof, as shall be necessary to cause such Benefited Lender to share the excess payment or benefits of
such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or benefits is thereafter recovered from such Benefited Lender, such purchase shall be rescinded, and
the purchase price and benefits returned, to the extent of such recovery, but without interest. The Borrower agrees that each Lender so purchasing a portion of another Lender’s Loans may exercise all rights of payment (including, without
limitation, rights of set-off) with respect to such portion as fully as if such Lender were the direct holder of such portion. 

(b) In addition to any rights and remedies of the Lenders provided by law (including, without limitation, other rights of set-off), each
Lender shall have the right, without prior notice to any Credit Party, any such notice being expressly waived by the Credit Parties to the extent permitted by applicable law, but subject to receipt of the prior written consent of the Requisite
Lenders exercised in their sole discretion, upon the occurrence of any Event of Default, to setoff and appropriate and apply any and all deposits (general or special, time or demand, provisional or final but excluding set-off of trust and payroll
accounts), in any currency, and any other credits, indebtedness or claims, in any currency, in each case whether direct or indirect, absolute or contingent, matured or unmatured, at any time held or owing by such Lender or any branch or agency
thereof to or for the credit or the account of any Credit Party, or any part thereof in such amounts as such Lender may elect, against and on account of the obligations and liabilities of the Borrower and the other Credit Parties to such Lender
hereunder and claims of every nature and description of such Lender against the Borrower, in any currency, whether arising hereunder, under any other Credit Document, the Fee Letter or any Hedging Agreement with a Hedging Agreement Provider provided
by such Lender pursuant to the terms of this Credit Agreement, as such Lender may elect, whether or not such Lender has made any demand for payment and although such obligations, liabilities and claims may be contingent or unmatured;
provided, however, that neither the Administrative Agent nor any Lender shall have any set-off rights against accounts of any Credit Party under hotel management agreements pursuant to which such Credit Party is acting as agent for a
third party with respect to the amounts in such account. The aforesaid right of set-off may be exercised by such Lender against the Credit Party or against any trustee in bankruptcy, debtor in possession, assignee for the benefit of creditors,
receiver or execution, judgment or attachment creditor of any such Credit Party, or against anyone else claiming through or against any such Credit Party or any such trustee in bankruptcy, debtor in

  
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possession, assignee for the benefit of creditors, receiver, or execution, judgment or attachment creditor, notwithstanding the fact that such right of set-off shall not have been exercised by
such Lender prior to the occurrence of any Event of Default. Each Lender agrees promptly to notify the applicable Credit Party and the Administrative Agent after any such set-off and application made by such Lender; provided, however,
that the failure to give such notice shall not affect the validity of such set-off and application. Notwithstanding anything to the contrary in this Section, if any Defaulting Lender shall exercise any such right of setoff, all amounts so set off
shall be paid over immediately to the Administrative Agent for further application in accordance with the provisions of Section 2.21 and, pending such payment, shall be segregated by such Defaulting Lender from its other funds and deemed held
in trust for the benefit of the Administrative Agent and the Lenders. 
  

	 	10.8	Table of Contents and Section Headings. 

 The table of contents and the Section and subsection headings herein are intended for convenience only and shall be ignored in construing this Credit Agreement. 

 

	 	10.9	Counterparts. 

 This
Credit Agreement may be executed by one or more of the parties to this Credit Agreement on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same agreement. 

 

	 	10.10	Effectiveness. 

 Subject
to Section 4, this Credit Agreement shall become effective on the date on which all of the parties have signed a copy hereof (whether the same or different copies) and shall have delivered the same to the Administrative Agent (or counsel to the
Administrative Agent) or, in the case of the Lenders, shall have given to the Administrative Agent written, telecopied or telex signature pages and notice (actually received) at such office that the same has been signed and mailed to it. 

 

	 	10.11	Severability. 

 Any
provision of this Credit Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof,
and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
  

	 	10.12	Integration. 

 This Credit
Agreement, the other Credit Documents and the Fee Letter represent the agreement of the Borrower, the Administrative Agent and the Lenders with respect to the subject matter hereof, and there are no promises, undertakings, representations or
warranties by the 

  
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Administrative Agent, the Borrower or any Lender relative to the subject matter hereof not expressly set forth or referred to herein or in the other Credit Documents. 

 

	 	10.13	GOVERNING LAW. 

 THIS
CREDIT AGREEMENT AND THE OTHER CREDIT DOCUMENTS AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS CREDIT AGREEMENT AND THE OTHER CREDIT DOCUMENTS SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF
ILLINOIS (WITHOUT TAKING INTO ACCOUNT CONFLICT OF LAW PRINCIPLES). 
  

	 	10.14	Consent to Jurisdiction and Service of Process. 

 All judicial proceedings brought against the Borrower and/or any other Credit Party with respect to this Credit Agreement, any Note , any of the other Credit Documents or the Fee Letter may be brought in
the courts of the State of Illinois in Cook County or in any federal court located in the State of Illinois, and, by execution and delivery of this Credit Agreement, each of the Borrower and the other Credit Parties accepts, for itself and in
connection with its properties, generally and unconditionally, the non-exclusive jurisdiction of the aforesaid courts and irrevocably agrees to be bound by any final judgment rendered thereby in connection with this Credit Agreement, any Note, any
other Credit Document or the Fee Letter from which no appeal has been taken or is available. Each of the Borrower and the other Credit Parties irrevocably agrees that all service of process in any such proceedings in any such court may be effected
by mailing a copy thereof by registered or certified mail (or any substantially similar form of mail), postage prepaid, to it at its address set forth in Section 10.2 or at such other address of which the Administrative Agent shall have been
notified pursuant thereto, such service being hereby acknowledged by each of the Borrower and the other Credit Parties to be effective and binding service in every respect. Each of the Borrower, the Administrative Agent and the Lenders irrevocably
waives any objection, including, without limitation, any objection to the laying of venue based on the grounds of forum non conveniens which it may now or hereafter have to the bringing of any such action or proceeding in any such jurisdiction.
Nothing herein shall affect any right that any party hereto may have to serve process in any other manner permitted by law or shall limit the right of any Lender to bring proceedings against the Borrower or the other Credit Parties in the court of
any other jurisdiction. 
  

	 	10.15	Confidentiality. 

 The
Administrative Agent and each of the Lenders agrees that it will not disclose without the prior consent of the Borrower (other than to its employees, Affiliates, agents, auditors or counsel or to another Lender who shall agree to keep such
information confidential) any information with respect to the Borrower, its Subsidiaries, any Pritzker Affiliate and any of their Affiliates which is furnished pursuant to or in connection with this Agreement, any other Credit Document or any
documents contemplated by or referred to herein or therein, except that any Lender may disclose any such information (a) as has become generally available to the public other than by a breach of this Section 10.15, (b) as may be
required or appropriate in any report, statement or testimony submitted to any municipal, state or federal regulatory body having or 

  
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claiming to have jurisdiction over such Lender or to the Federal Reserve Board or the Federal Deposit Insurance Corporation or the OCC or the NAIC or similar organizations (whether in the United
States or elsewhere) or their successors; provided, that prior to such disclosure such Lender shall give prior notice to the Borrower, (c) as is required or appropriate in response to any summons or subpoena or any law, order, regulation
or ruling of a Governmental Authority applicable to such Lender; provided, that prior to such disclosure such lender shall give prior notice to the Borrower, (d) to any prospective Participant or assignee in connection with any
contemplated transfer pursuant to Section 10.6, provided that such prospective transferee shall have been made aware of this Section 10.15 and shall have agreed to be bound by its provisions as if it were a party to this Agreement,
(e) with the Borrower’s consent (such consent not to be unreasonably withheld) to Gold Sheets and other similar bank trade publications; such information to consist of deal terms and other information regarding the credit facilities
evidenced by this Credit Agreement customarily found in such publications, (f) to any actual or prospective counterparty (or its advisors) to any Hedging Agreement relating to a Credit Party and its obligations hereunder or under any Hedging
Agreement); provided that such prospective transferee shall have agreed to be bound by the confidentiality provisions set forth in this Section, or (g) in connection with any suit, action or proceeding for the purpose of defending
itself, reducing its liability, or protecting or exercising any of its claims, rights, remedies or interests under or in connection with the Credit Documents, the Fee Letter or any Hedging Agreement entered into with a Hedging Agreement Provider;
provided further that, in any case, notice of any disclosure as set forth in clauses (a) through (g) above shall only be provided to the Borrower to the extent permitted by applicable law, regulation or legal process and in
no event shall such notice be provided or required in connection with a regular examination of a Lender by its regulators. 
  

	 	10.16	Acknowledgments. 

 (a) The
Borrower and the other Credit Parties each hereby acknowledges that: 
 (i) it has been advised by counsel in the
negotiation, execution and delivery of each Credit Document and the Fee Letter; 
 (ii) neither the
Administrative Agent nor any Lender has any fiduciary relationship with or duty to the Borrower or any other Credit Party arising out of or in connection with this Credit Agreement and the relationship between Administrative Agent and Lenders, on
one hand, and the Borrower and the other Credit Parties, on the other hand, in connection herewith is solely that of debtor and creditor; and 
 (iii) no joint venture exists among the Lenders or among the Borrower and the Lenders. 
 (b) The Administrative Agent and each of the Lenders agree that: 

(i) the Credit Party Obligations may not be enforced against any director, officer, employee or stockholder of the
Borrower or the other Credit Parties; and 

  
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 (ii) it is not necessary for the Borrower or the other Credit Parties to
inquire into the capacity or power of the Administrative Agent or any of the Lenders or the officers, directors, partners or agents acting or purporting to act on their behalf. 

 

	 	10.17	Waivers of Jury Trial. 

THE BORROWER, THE OTHER CREDIT PARTIES, THE ADMINISTRATIVE AGENT AND THE LENDERS HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVE, TO THE
EXTENT PERMITTED BY APPLICABLE LAW, TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS CREDIT AGREEMENT, ANY OTHER CREDIT DOCUMENT OR THE FEE LETTER AND FOR ANY COUNTERCLAIM THEREIN. 

 

	 	10.18	Judgment Currency. 

 If,
for the purposes of obtaining judgment in any court, it is necessary to convert a sum due hereunder or under any other Credit Document or the Fee Letter in one currency into another currency, the rate of exchange used shall be that at which in
accordance with normal banking procedures the Administrative Agent could purchase the first currency with such other currency on the Business Day preceding that on which final judgment is given. The obligation of the Borrower in respect of any such
sum due from it to the Administrative Agent or any Lender hereunder or under the other Credit Documents or the Fee Letter shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than that in which such sum
is denominated in accordance with the applicable provisions of this Credit Agreement (the “Agreement Currency”), be discharged only to the extent that on the Business Day following receipt by the Administrative Agent or such Lender
of any sum adjudged to be so due in the Judgment Currency, the Administrative Agent or such Lender may in accordance with normal banking procedures purchase the Agreement Currency with the Judgment Currency. If the amount of the Agreement Currency
so purchased is less than the sum originally due to the Administrative Agent or such Lender in the Judgment Currency, the Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the Administrative Agent or such
Lender or the Person to whom such obligation was owing against such loss. If the amount of the Agreement Currency so purchased is greater than the sum originally due to the Administrative Agent or such Lender in the Judgment Currency, the
Administrative Agent or such Lender agrees to return the amount of any excess to the Borrower (or to any other Person who may be entitled thereto under applicable law). 

 

	 	10.19	Nonliability of Administrative Agent and Lenders. 

 The relationship between the Borrower and the Lenders shall be solely that of borrower and lender. Neither the Administrative Agent nor any Lender shall have any fiduciary responsibilities to the Borrower
or any other Credit Party and no provision in this Agreement or any of the other Credit Documents or the Fee Letter, and no course of dealing between or among any of the parties hereto, shall be deemed to create any fiduciary duty owing by the
Administrative Agent or any Lender to any Lender, the Borrower, any Subsidiary or any other Credit Party. Neither the Administrative Agent nor any Lender undertakes any responsibility to 

  
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the Borrower to review or inform the Borrower of any matter in connection with any phase of the Borrower’s business or operations. 

 

	 	10.20	NO NOVATION. 

 THE PARTIES
HERETO HAVE ENTERED INTO THIS AGREEMENT SOLELY TO AMEND AND RESTATE THE TERMS OF THE EXISTING FACILITY. THE PARTIES DO NOT INTEND THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY TO BE, AND THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED
HEREBY SHALL NOT BE CONSTRUED TO BE, A NOVATION OF ANY OF THE CREDIT PARTY OBLIGATIONS (AS DEFINED IN THE EXISTING FACILITY) OWING BY THE BORROWER OR ANY GUARANTOR UNDER OR IN CONNECTION WITH THE EXISTING FACILITY OR ANY OF THE OTHER CREDIT
DOCUMENTS (AS DEFINED IN THE EXISTING FACILITY). 
 [Remainder of Page Intentionally Left Blank] 

  
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 IN WITNESS WHEREOF, each of the parties hereto has caused a counterpart of this
Amended and Restated Credit Agreement to be duly executed and delivered as of the date first above written. 
  

							
	BORROWER:	 		 	HYATT HOTELS CORPORATION,
		 		 	a Delaware corporation
				
		 		 	By:	 	 /s/    Harmit Singh

		 		 	Name:	 	Harmit Singh
		 		 	Title:	 	Executive Vice President and Chief Financial Officer
			
	GUARANTORS:	 		 	 BRE/AMERISUITES PROPERTIES L.L.C.,
 a Delaware limited liability company
  
 GRAND HYATT SF, L.L.C.,
 a Delaware limited liability company

 
 H.E. SAN ANTONIO, L.L.C.,

a Delaware limited liability company
  

HYATT EQUITIES, L.L.C.,
 a Delaware
limited liability company
  
 HYATT PARTNERSHIP INTERESTS,
L.L.C.,
 a Delaware limited liability company
  

SELECT HOTELS GROUP, L.L.C.,
 a Delaware
limited liability company

				
		 		 	By:	 	 /s/    Harmit Singh

		 		 	Name:	 	Harmit Singh
		 		 	Title:	 	Vice President and Treasurer of each of the foregoing guarantors
			
		 		 	 BRE/AMERISUITES TXNC PROPERTIES L.P.,
 a Delaware limited partnership

				
		 		 	By:	 	BRE/AMERISUITES TXNC GP L.L.C., its general partner

									
					
		 		 		 	By:	 	 /s/    Harmit Singh

		 		 		 	Name:	 	Harmit Singh
		 		 		 	Title:	 	Vice President and Treasurer

 [Signatures Continued on Next Page] 

 [Signature Page to Amended and Restated Credit Agreement with Hyatt Hotels Corporation]

  

											
		 		 	 GAINEY DRIVE ASSOCIATES,
 an Arizona general partnership

				
		 		 	By:	 	HYATT EQUITIES, L.L.C., its partner
				
		 		 	By:	 	HYATT PARTNERSHIP INTEREST, L.L.C., its partner
					
		 		 		 	By:	 	/s/    Harmit Singh
		 		 		 		 	Name:	 	Harmit Singh
		 		 		 		 	Title:	 	 Vice President and Treasurer of each
 of the partners listed above

			
		 		 	 HYATT CORPORATION,
 a Delaware corporation

				
		 		 	By:	 	/s/     Harmit Singh
		 		 		 	Name:	 	Harmit Singh
		 		 		 	Title:	 	Executive Vice President and Chief Financial Officer

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 [Signature Page to Amended and Restated Credit Agreement with Hyatt Hotels Corporation]

  

							
	LENDERS:	 		 	WELLS FARGO BANK, NATIONAL ASSOCIATION,
		 		 	individually in its capacity as a Lender and in its capacity as Administrative Agent
				
		 		 	By:	 	 /S/    MARK F.
MONAHAN

		 		 	Name:	 	Mark F. Monahan
		 		 	Title:	 	Senior Vice President

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 [Signature Page to Amended and Restated Credit Agreement with Hyatt Hotels Corporation]

  

							
		 		 	BANK OF AMERICA, N.A.
				
		 		 	By:	 	/S/    STEVEN P. RENWICK
		 		 	Name:	 	Steven P. Renwick
		 		 	Title:	 	Senior Vice President

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 [Signature Page to Amended and Restated Credit Agreement with Hyatt Hotels Corporation]

 09-2011 
  

			
	DEUTSCHE BANK SECURITIES INC.
	as Co-Lead Arranger and Co-Documentation Agent
		
	By:	 	 /S/    GEORGE
REYNOLDS

	Name:	 	George Reynolds
	Title:	 	Director
		
	By:	 	 /S/    JAMES
ROLISON

	Name:	 	James Rolison
	Title:	 	Managing Director
	
	DEUTSCHE BANK AG NEW YORK BRANCH
	as Lender
		
	By:	 	 /S/    GEORGE
REYNOLDS

	Name:	 	George Reynolds
	Title:	 	Director
		
	By:	 	 /S/    JAMES
ROLISON

	Name:	 	James Rolison
	Title:	 	Managing Director

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 [Signature Page to Amended and Restated Credit Agreement with Hyatt Hotels Corporation]

  

			
	JPMORGAN CHASE BANK, N.A.
		
	By:	 	 /S/    MARC
COSTANTINO

	Name:	 	Marc Costantino
	Title:	 	Executive Director

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 [Signature Page to Amended and Restated Credit Agreement with Hyatt Hotels Corporation]

  

							
		 		 	SUNTRUST BANK
				
		 		 	By:	 	 /S/    BAERBEL
FREUDENTHALER

		 		 	Name:	 	Baerbel Freudenthaler
		 		 	Title:	 	Director

 [Signature Page to Amended and Restated Credit Agreement with Hyatt Hotels Corporation]

  

							
		 		 	THE BANK OF NOVA SCOTIA
				
		 		 	By:	 	 /S/    AJIT
GOSWAMI

		 		 	Name:	 	Ajit Goswami
		 		 	Title:	 	Director

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 [Signature Page to Amended and Restated Credit Agreement with Hyatt Hotels Corporation]

  

							
		 		 	GOLDMAN SACHS LENDING PARTNERS
				
		 		 	By:	 	 /S/    MARK
WALTON

		 		 	Name:	 	Mark Walton
		 		 	Title:	 	Authorized Signatory

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 [Signature Page to Amended and Restated Credit Agreement with Hyatt Hotels Corporation]

  

			
	UBS LOAN FINANCE LLC
		
	By:	 	 /S/    IRJA R.
OTSA

	Name:	 	Irja R. Otsa
	Title:	 	Associate Director
		
	By:	 	 /S/    MARY E.
EVANS

	Name:	 	Mary E. Evans
	Title:	 	Associate Director

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 [Signature Page to Amended and Restated Credit Agreement with Hyatt Hotels Corporation]

  

			
	COMPASS BANK
		
	By:	 	 /S/    DON
BYERLY

	Name:	 	Don Byerly
	Title:	 	Senior Vice President

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 [Signature Page to Amended and Restated Credit Agreement with Hyatt Hotels Corporation]

  

			
	CITICORP NORTH AMERICA, INC.
		
	By:	 	 /S/    JOHN
ROWLAND

	Name:	 	John Rowland
	Title:	 	Director

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 [Signature Page to Amended and Restated Credit Agreement with Hyatt Hotels Corporation]

  

							
		 		 	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH
				
		 		 	By:	 	 /S/    KARL
STUDER

		 		 	Name:	 	Karl Studer
		 		 	Title:	 	Director
		 		 		 	
				
		 		 	By:	 	 /S/    CLAUDIA
SIFFERT

		 		 	Name:	 	Claudia Siffert
		 		 	Title:	 	Assistant Vice President

 [Signatures Continued on Next Page] 

 [Signature Page to Amended and Restated Credit Agreement with Hyatt Hotels Corporation]

  

							
		 		 	HSBC Bank USA, National Association
				
		 		 	By:	 	 /S/    ALAN
VITULICH

		 		 	Name:	 	Alan Vitulich
		 		 	Title:	 	Vice President

 [Signatures Continued on Next Page] 

 [Signature Page to Amended and Restated Credit Agreement with Hyatt Hotels Corporation]

  

							
		 		 	U.S. BANK NATIONAL ASSOCIATION
				
		 		 	By:	 	 /S/    BRETT M.
JUSTMAN

		 		 	Name:	 	Brett M. Justman
		 		 	Title:	 	Vice President

 [Signatures Continued on Next Page] 

 [Signature Page to Amended and Restated Credit Agreement with Hyatt Hotels Corporation]

  

							
		 		 	COMERICA BANK
				
		 		 	By:	 	 /S/    BRANDON
WELLING

		 		 	Name:	 	Brandon Welling
		 		 	Title:	 	Vice President

 [Signatures Continued on Next Page] 

 [Signature Page to Amended and Restated Credit Agreement with Hyatt Hotels Corporation]

  

					
		 		 	PNC Bank, N.A.
			
		 		 	 /S/    TRACY S.
LARRISON

		 		 	Tracy S. Larrison
		 		 	Senior Vice President

 [Signature Page to Amended and Restated Credit Agreement with Hyatt Hotels Corporation]

  

							
		 		 	SOVEREIGN BANK
				
		 		 	By:	 	 /S/    ARLENE
PEDOVITCH

		 		 	Name:	 	Arlene Pedovitch
		 		 	Title:	 	Senior Vice President

 [Signatures Continued on Next Page] 

 [Signature Page to Amended and Restated Credit Agreement with Hyatt Hotels Corporation]

  

							
		 		 	THE NORTHERN TRUST COMPANY
				
		 		 	By:	 	 /S/    BLAKE J.
LUNT

		 		 	Name:	 	Blake J. Lunt
		 		 	Title:	 	Second Vice President

 [Signatures Continued on Next Page] 

 [Signature Page to Amended and Restated Credit Agreement with Hyatt Hotels Corporation]

  

							
		 		 	CHANG HWA COMMERCIAL BANK, LTD., NEW YORK BRANCH
				
		 		 	By:	 	 /S/    ERIC Y.S.
TSAI

		 		 	Name:	 	Eric Y.S. Tsai
		 		 	Title:	 	Vice President & General Manager

 Schedule 1.1 
 [FORM OF] 
 NOTICE OF ACCOUNT DESIGNATION LETTER 

[Date] 
 Wells Fargo Bank,
National Association, 
 as Administrative Agent 
 1750 H. Street, NW, Suite 550 
 Washington, D.C. 20006 

Ladies and Gentlemen: 
 This
Notice of Account Designation Letter is delivered to you by HYATT HOTELS CORPORATION, a Delaware corporation (the “Borrower”), under the Amended and Restated Credit Agreement, dated as of September 9, 2011 (as amended, restated or
otherwise modified, the “Credit Agreement”), by and among the Borrower, certain Subsidiaries of the Borrower from time to time party thereto (the “Guarantors”), the lenders from time to time party thereto (the
“Lenders”), and Wells Fargo Bank, National Association, as administrative agent for the Lenders (the “Administrative Agent”). Capitalized terms used herein and not otherwise defined shall have the meanings set forth
in the Credit Agreement. 
 The Administrative Agent is hereby authorized to disburse all Loan proceeds into the following
account, unless the Borrower shall designate, in writing to the Administrative Agent, one or more other accounts: 

[                      
      ] 
 ABA Routing Number
[            ] 
 Account
#[            ] 
 Notwithstanding the foregoing, on the Closing
Date, funds borrowed under the Credit Agreement shall be sent to the institutions and/or persons designated on the payment instructions to be delivered separately. 
 [Signature on Following Page] 

 IN WITNESS WHEREOF, the undersigned has executed this Notice of Account Designation Letter
as of the date first written above. 
  

			
	HYATT HOTELS CORPORATION,
	a Delaware corporation
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 SCHEDULE 1.1(a) 
 Mandatory Cost Formulae 
 1. The Mandatory Cost is an addition to the
interest rate to compensate Lenders for the cost of compliance with (a) the requirements of the Bank of England and/or the United Kingdom’s Financial Services Authority (the “Financial Services Authority”) (or, in either case,
any other authority which replaces all or any of its functions) or (b) the requirements of the European Central Bank. 
 2.
On the first day of each Interest Period (or as soon as possible thereafter), the Administrative Agent shall calculate, as a percentage rate, a rate (the “Additional Cost Rate”) for each Lender in accordance with the paragraphs set out
below. The Mandatory Cost will be calculated by the Administrative Agent as a weighted average of the Lenders’ Additional Cost Rates (weighted in proportion to the percentage participation of each Lender in the relevant Loan) and will be
expressed as a percentage rate per annum. 
 3. The Additional Cost Rate for any Lender lending from a Lending Office in a
Participating Member State will be the percentage notified by that Lender to the Administrative Agent. This percentage will be certified by that Lender in its notice to the Administrative Agent to be its reasonable determination of the cost
(expressed as a percentage of that Lender’s participation in all Loans made from that Lending Office) of complying with the minimum reserve requirements of the European Central Bank in respect of loans made from that Lending Office. 

4. The Additional Cost Rate for any Lender lending from a Lending Office in the United Kingdom will be calculated by the Administrative
Agent as follows: 
  

	 	(a)	in relation to a Loan denominated in Sterling: 

  

			
	
AB + C(B – D) + E x 0.01
	 	percent per annum
	100 – (A + C)	 

  

	 	(b)	in relation to a Loan denominated in any currency other than Sterling: 

  

			
	 E x 0.01
	 	percent per annum.
	300	 	

 Where: 
  

	 	A	is the percentage of Eligible Liabilities (assuming these to be in excess of any stated minimum) which that Lender is from time to time required to maintain as an
interest free cash ratio deposit with the Bank of England to comply with cash ratio requirements. 

	 	B	is the percentage rate of interest (excluding the Applicable Margin and Mandatory Cost and, if the same would otherwise apply, the additional rate of interest specified
in the definition of “Default Rate”) payable for the relevant Interest Period on the relevant Loan. 

  

	 	C	is the percentage (if any) of Eligible Liabilities which that Lender is required from time to time to maintain as interest bearing Special Deposits with the Bank of
England. 

  

	 	D	is the percentage rate per annum payable by the Bank of England to the Administrative Agent on interest bearing Special Deposits. 

 

	 	E	is designed to compensate Lenders for amounts payable under the Fees Rules and is calculated by the Administrative Agent as being the average of the most recent rates
of charge supplied by the Reference Banks to the Administrative Agent pursuant to paragraph 7 below and expressed in pounds per £1,000,000. 

 5. For the purposes of this Schedule 1.1(a): 
 (a) “Eligible
Liabilities” has the meaning given to it from time to time under or pursuant to the Bank of England Act 1998 or (as may be appropriate) by the Bank of England; 
 (b) “Fees Rules” means the rules on periodic fees contained in the FSA Supervision Manual or such other law or regulation as may be in force from time to time in respect of the payment of
fees for the acceptance of deposits; 
 (c) “Fee Tariffs” means the fee tariffs specified in the Fees Rules
under the activity group A.1 Deposit acceptors (ignoring any minimum fee or zero rated fee required pursuant to the Fees Rules but taking into account any applicable discount rate); 

(d) “Reference Banks” means the principal London Office of Wells Fargo Bank, National Association or such other bank as
may be appointed by the Administrative Agent after consultation with the Borrower; 
 (e) “Special Deposits”
has the meanings given to it from time to time under or pursuant to the Bank of England Act 1998 or (as may be appropriate) by the Bank of England; and 
 (f) “Tariff Base” has the meaning given to it in, and will be calculated in accordance with, the Fees Rules. 
 6. In application of the above formulae, A, B, C and D will be included in the formulae as percentages (i.e. 5 percent will be included in the formula as 5 and not as 0.05). A negative result obtained by
subtracting D from B shall be taken as zero. The resulting figures shall be rounded to four decimal places. 
 7. If requested
by the Administrative Agent, each Reference Bank shall, as soon as 

 
practicable after publication by the Financial Services Authority, supply to the Administrative Agent the rate of charge payable by that Reference Bank to the Financial Services Authority
pursuant to the Fees Rules in respect of the relevant financial year of the Financial Services Authority (calculated for this purpose by that Reference Bank as being the average of the Fee Tariffs applicable to that Reference Bank for that financial
year) and expressed in pounds per £1,000,000 of the Tariff Base of that Reference Bank. 
 8. Each Lender shall supply any
information required by the Administrative Agent for the purpose of calculating its Additional Cost Rate. In particular, but without limitation, each Lender shall supply the following information on or prior to the date on which it becomes a Lender:

 (a) the jurisdiction of its Lending Office; and 
 (b) any other information that the Administrative Agent may reasonably require for such purpose. 
 Each Lender shall promptly notify the Administrative Agent of any change to the information provided by it pursuant to this paragraph. 

9. The percentages of each Lender for the purpose of A and C above and the rates of charge of each Reference Bank for the purpose of E
above shall be determined by the Administrative Agent based upon the information supplied to it pursuant to paragraphs 7 and 8 above and on the assumption that, unless a Lender notifies the Administrative Agent to the contrary, each Lender’s
obligations in relation to cash ratio deposits and Special Deposits are the same as those of a typical bank from its jurisdiction of incorporation with a Lending Office in the same jurisdiction as its Lending Office. 

10. The Administrative Agent shall have no liability to any person if such determination results in an Additional Cost Rate which over or
under compensates any Lender and shall be entitled to assume that the information provided by any Lender or Reference Bank pursuant to paragraphs 3, 7 and 8 above is true and correct in all respects. 

11. The Administrative Agent shall distribute the additional amounts received as a result of the Mandatory Cost to the Lenders on the
basis of the Additional Cost Rate for each Lender based on the information provided by each Lender and each Reference Bank pursuant to paragraphs 3, 7 and 8 above. 
 12. Any determination by the Administrative Agent pursuant to this Schedule 1.1(a) in relation to a formula, the Mandatory Cost, an Additional Cost Rate or any amount payable to a Lender
shall, in the absence of manifest error, be conclusive and binding on all parties. 
 13. The Administrative Agent may from time
to time, after consultation with the Borrower and the Lenders, determine and notify to all parties of any amendments which are required to be made to this Schedule 1.1(a) in order to comply with any change in law, regulation or any
requirements from time to time imposed by the Bank of England, the Financial Services 

 
Authority or the European Central Bank (or, in any case, any other authority which replaces all or any of its functions) and any such determination shall, in the absence of manifest error, be
conclusive and binding on all parties. 

 Schedule 1.1(b) 

TRANSFER AUTHORIZER DESIGNATION 
 (For Disbursement of Loan Proceeds by Funds Transfer) 
  ̈  NEW   ̈  REPLACE PREVIOUS
DESIGNATION   ̈  ADD   ̈  CHANGE  
 ̈  DELETE LINE NUMBER         ̈  INITIAL LOAN DISBURSEMENT 

The following representatives of HYATT HOTELS CORPORATION (“Borrower”) are authorized to request the disbursement of Loan
proceeds and initiate funds transfers for Loan Number          dated September     , 2011 among the Borrower, each of the financial institutions initially a signatory thereto together with
their successors and assignees under Section 12.6. (the “Lenders”) and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent (the “Administrative Agent”). Administrative Agent is
authorized to rely on this Transfer Authorizer Designation until it has received a new Transfer Authorizer Designation signed by Borrower, even in the event that any or all of the foregoing information may have changed. 

 

							
	 	  	 Name
	  	 Title
	  	 Maximum Wire

Amounti

	1.	  		  		  	
	2.	  		  		  	
	3.	  		  		  	
	4.	  		  		  	
	5.	  		  		  	

 Initial Loan Disbursement
Authorization     ̈    Not
Applicable     ̈    Applicable — Administrative Agent is hereby authorized to accept wire transfer instructions from
                         (ie. specify title company escrow) to be delivered, via fax, email, letter or other method, to
Administrative Agent for title/escrow #                     and/or loan
#                    . Said instructions shall include the title/escrow company’s Receiving Party Account Name, city and state, Receiving Party
Account Number, Receiving Lender’s (ABA) Routing Number, Maximum Transfer Amount required, Borrower’s name, title order/escrow number to which Administrative Agent shall fund the Initial Loan Disbursement under the loan number referenced
above. The amount of said transfer shall not exceed $            . Borrower acknowledges and agrees that the acceptance of and wire transfer of funds by Administrative Agent in accordance
with the title/escrow company instructions shall be governed by this Transfer Authorizer Designation form and any other Loan Documents dated
                     by and between Administrative Agent and Borrower. Administrative Agent shall not be further required to confirm said wiring
instructions received from title/escrow company with Borrower. This Initial Loan Disbursement Authorization is in effect until the Termination Date after which time a new authorization request shall be required. Borrower shall instruct title/escrow
company via a separate letter, to deliver said wiring instructions in writing, directly to Administrative Agent at its address. Borrower also hereby authorizes Lender to attach a copy of the title/escrow company’s written wire instructions to
this Transfer Authorizer Designation form upon receipt of said instructions. 

 Beneficiary Bank and Account Holder Information 

1. 

					
	Transfer Funds to (Receiving Party Account Name):
	
	Receiving Party Account Number:
			
	Receiving Bank Name, City and State:	  		  	Receiving Bank Routing (ABA) Number
			
	Maximum Transfer Amount:	  		  	
	
	 Further Credit Information/Instructions:
  

 2. 

					
	Transfer Funds to (Receiving Party Account Name):
	
	Receiving Party Account Number:
			
	Receiving Bank Name, City and State:	  		  	Receiving Bank Routing (ABA) Number
			
	Maximum Transfer Amount:	  		  	
	
	 Further Credit Information/Instructions:
  

 3. 

					
	Transfer Funds to (Receiving Party Account Name):
	
	Receiving Party Account Number:
			
	Receiving Bank Name, City and State:	  		  	Receiving Bank Routing (ABA) Number
			
	Maximum Transfer Amount:	  		  	
	
	 Further Credit Information/Instructions:
  

  

	1 
	 Maximum Wire Amount may not exceed the Loan Amount. 

 [Signature Page to Transfer Authorizer Designation] 

 

			
	Date:	 	  

	
	“BORROWER”
	
	 HYATT HOTELS CORPORATION,
 a Delaware corporation

		
	By:	 	  

	Name:	 	  

	Title:	 	  

 Schedule 1.1(c) 

Existing Letters of Credit 
  

											
	Applicant	  	Beneficiary	  	Amount	 	  	Expiry	  	Reason
	 Hyatt Regency Cologne GmbH and joint applicant Hyatt Corp
	  	 Fassbender Beteiligungsgesellschaft mbH & Co.
	  	€	6,230,827.00	  	  	5/1/2012	  	 Rent payment guarantee from Lessee (HR Cologne) to Lessor (Fassbender). Obligation can extend to May 1,
2013

	 H.E. SARP, LP; Global Hyatt Corp (co-applicant)
	  	 Teachers Insurance and Annuity Association of America
	  	$	1,750,000.00	  	  	10/5/2011	  	 Hyatt Regency Hill Country Loan

	 Hyatt Corporation/Global Hyatt Corporation
	  	 Liberty Mutual Insurance Company
	  	$	19,540,000.00	  	  	5/16/2012	  	 Replaces BoNY Escrow account

	 Global Hyatt Corporation
	  	 AIG Insurance Compamy
	  	$	24,500,000.00	  	  	12/24/2011	  	 To secure AIG’s commitment to provide workers compensation insurance to Hyatt.

	 Cerromar Development Partners, L.P., S.E.; Hyatt Corp (Co-Applicant)
	  	 “Escrow Agt” Banco Santander
	  	$	500,000.00	  	  	1/1/2012	  	 Regarding Mortgage Credit Accounts. Replaced BofA LOC #7348643 in the amt of $2mm, which exp on 12/31/02

	 Hyatt Hotels Corporation
	  	 Safety National
	  	$	150,000.00	  	  	11/6/2011	  	 Collateral for Work Comp deductible Insurance programs

	 Hyatt Hotels Corporation FBO HT-Park 57, Inc.
	  	 Extell West 57th Street
	  	$	5,000,000.00	  	  	5/28/2012	  	 Guarantees financing of PH New York construction

 SCHEDULE 2.1(a) 
 Lenders and Commitments 
  

																	
	 Lender
	  	Revolving
Committed
Amount	 	  	Revolving
Commitment
Percentages
	 	 	LOC
Committed
Amount	 	  	LOC
Commitment
Percentage	 
	 Wells Fargo Bank, National Association
	  	$	150,000,000	  	  	 	10.000000000	% 	 	$	30,000,000	  	  	 	10.000000000	% 
	 Bank of America, N.A.
	  	$	150,000,000	  	  	 	10.000000000	% 	 	$	30,000,000	  	  	 	10.000000000	% 
	 Deutsche Bank AG New York Branch
	  	$	135,000,000	  	  	 	9.000000000	% 	 	$	27,000,000	  	  	 	9.000000000	% 
	 JPMorgan Chase Bank, N.A.
	  	$	135,000,000	  	  	 	9.000000000	% 	 	$	27,000,000	  	  	 	9.000000000	% 
	 SunTrust Bank
	  	$	100,000,000	  	  	 	6.666666667	% 	 	$	20,000,000	  	  	 	6.666666667	% 
	 Bank of Nova Scotia
	  	$	100,000,000	  	  	 	6.666666667	% 	 	$	20,000,000	  	  	 	6.666666667	% 
	 Goldman Sachs Lending Partners
	  	$	100,000,000	  	  	 	6.666666667	% 	 	$	20,000,000	  	  	 	6.666666667	% 
	 UBS Loan Finance LLC
	  	$	100,000,000	  	  	 	6.666666667	% 	 	$	20,000,000	  	  	 	6.666666667	% 
	 Compass Bank
	  	$	75,000,000	  	  	 	5.000000000	% 	 	$	15,000,000	  	  	 	5.000000000	% 
	 Citicorp North America, Inc.
	  	$	75,000,000	  	  	 	5.000000000	% 	 	$	15,000,000	  	  	 	5.000000000	% 
	 Credit Suisse AG, Cayman Islands Branch
	  	$	75,000,000	  	  	 	5.000000000	% 	 	$	15,000,000	  	  	 	5.000000000	% 
	 HSBC Bank USA, National Association
	  	$	75,000,000	  	  	 	5.000000000	% 	 	$	15,000,000	  	  	 	5.000000000	% 
	 U.S. Bank National Association
	  	$	75,000,000	  	  	 	5.000000000	% 	 	$	15,000,000	  	  	 	5.000000000	% 
	 Comerica Bank
	  	$	40,000,000	  	  	 	2.666666667	% 	 	$	8,000,000	  	  	 	2.666666667	% 
	 PNC Bank, N.A
	  	$	40,000,000	  	  	 	2.666666667	% 	 	$	8,000,000	  	  	 	2.666666667	% 
	 Sovereign Bank
	  	$	30,000,000	  	  	 	2.000000000	% 	 	$	6,000,000	  	  	 	2.000000000	% 
	 The Northern Trust Company
	  	$	30,000,000	  	  	 	2.000000000	% 	 	$	6,000,000	  	  	 	2.000000000	% 
	 Chang Hwa Commercial Bank, Ltd., New York Branch
	  	$	15,000,000	  	  	 	1.000000000	% 	 	$	3,000,000	  	  	 	1.000000000	% 
		  	  
	  
	 	  	  
	  
	 	 	  
	  
	 	  	  
	  
	 
	 TOTAL
	  	$	1,500,000,000	  	  	 	100.00	% 	 	$	300,000,000	  	  	 	100.00	% 
		  	  
	  
	 	  	  
	  
	 	 	  
	  
	 	  	  
	  
	 

 Schedule 2.1(b)(i) 

[FORM OF] 

NOTICE OF BORROWING 
 [Date] 
 Wells Fargo Bank, National Association, 

as Administrative Agent 
 Minneapolis Loan Center

 733 Marquette Avenue 
 10th Floor,
MAC: N9306-102 
 Minneapolis, Minnesota 55402 
 Attn: Joann M. Adams 
 Ladies and Gentlemen: 

Pursuant to Section 2.1(b)(i) of the Amended and Restated Credit Agreement, dated as of September 9, 2011 (as amended, restated or
otherwise modified, the “Credit Agreement”), by and among HYATT HOTELS CORPORATION, a Delaware corporation (the “Borrower”), certain Subsidiaries of the Borrower from time to time party thereto (the
“Guarantors”), the lenders from time to time party thereto (the “Lenders”) and Wells Fargo Bank, National Association, as Administrative Agent for the Lenders (the “Administrative Agent”), the
Borrower hereby requests that the following: 
  

	I.	Revolving Loans be made on [date] as follows (the “Proposed Borrowing”): 

 

									
	 (1)
	 	 Total Amount of Revolving Loans
	  	$	            	  
			
	 (2)
	 	 Currency requested
	  	 	             	  
			
	 (3)
	 	 Amount of (1) to be allocated to LIBOR Rate Loans
	  	$	            	  
			
	 (4)
	 	 Amount of (I) to be allocated to Alternate Base Rate Loans
	  	$	            	  
			
	 (5)
	 	 Interest Periods and amounts to be allocated thereto in respect of LIBOR Rate Loans (amounts must total
(3)):
	  			
				
		 	 (i)
	  	 one month
	  	$	            	  

									
				
		 	 (ii)
	  	 two months
	  	$	            	  
				
		 	 (iii)
	  	 three months
	  	$	            	  
				
		 	 (iv)
	  	 six months
	  	$	            	  
			
		 	 Total LIBOR Rate Loans
	  	$	            	  

  

	 	NOTE:	BORROWINGS MUST BE IN MINIMUM AMOUNTS OF (A) WITH RESPECT TO LIBOR RATE LOANS $5,000,000 AND $1,000,000 INCREMENTS IN EXCESS THEREOF AND (B) WITH RESPECT TO ALTERNATE
BASE RATE LOANS, $1,000,000 AND $250,000 INCREMENTS IN EXCESS THEREOF. 

  

	II.	Swingline Loans be made on [date] as follows (the “Proposed Borrowing”): 

Swing line Loans requested: 
  

									
	 (1)
	 	 Total Amount of Swingline Loans
	  	$	            	  

  

	 	NOTE:	SWINGLINE LOAN BORROWINGS MUST BE IN MINIMUM AMOUNTS OF $100,000 AND IN INTEGRAL AMOUNTS OF $100,000 IN EXCESS THEREOF. 

Terms defined in the Credit Agreement shall have the same meanings when used herein. 

The undersigned hereby certifies that the following statements are true net the date hereof and will be true on the date of the Proposed
Borrowing: 
 (A) the representations and warranties contained in the Credit Agreement and in the other Credit
Documents are and will be true and correct in all material respects, both before and after giving effect to the Proposed Borrowing and to the application of the proceeds thereof, with the same effect as though such representations and warranties had
been made on and as of the date of such Proposed Borrowing (it being understood that any representation or warranty which by its terms is made as of a specified date shall be required to be true and correct only on and as of such specified date);

 (B) no Default or Event of Default has occurred and is continuing, or would result from such Proposed
Borrowing or from the application of the proceeds thereof; and 
 (C) immediately after giving effect to the
making of the Proposed Borrowing (and the application of the proceeds thereof), (i) the sum of outstanding Revolving Loans plus LOC Obligations plus Swingline Loans shall not exceed the Aggregate Revolving

 
Committed Amount, (ii) the LOC Obligations shall not exceed the LOC Committed Amount and (iii) the outstanding Swingline Loans shall not exceed the Swingline Committed Amount.

 [Signature on Following Page] 

 IN WITNESS WHEREOF, the undersigned has executed this Notice of Borrowing as of the date
first written above. 
  

			
	Very truly yours,
	
	 HYATT HOTELS CORPORATION,
 a Delaware corporation

		
	By:	 	  

	Name:	 	  

	Title:	 	  

 Schedule 2.1(e) 

[FORM OF] 

REVOLVING NOTE 
 September     , 2011 
 FOR VALUE RECEIVED,
the undersigned, HYATT HOTELS CORPORATION, a Delaware corporation (the “Borrower”), hereby promises to pay to the order of WELLS FARGO BANK, NATIONAL ASSOCIATION (the “Lender”) at the office of Wells Fargo Bank,
National Association, located at 733 Marquette Avenue,
10th Floor, Minneapolis, Minnesota 55402, in lawful money
of the United States of America and in immediately available funds, 
 (i) in the case of Revolving Loans, on or before the
Maturity Date, the Lender’s Revolving Committed Amount or, if less, the aggregate unpaid principal Dollar Amount of all Revolving Loans made by the Lender to the Borrower; and 

(ii) in the case of Competitive Loans, on or before the date specified in the Competitive Bid, the aggregate unpaid principal Dollar
Amount of all Competitive Loans made by the Lender to the Borrower. 
 The undersigned further agrees to pay interest in like
money at such office on the unpaid principal Dollar Amount hereof and, to the extent permitted by law, accrued interest in respect hereof from time to time from the date hereof until payment in full of the principal Dollar Amount hereof and accrued
interest hereon, at the rates and on the dates set forth in the Credit Agreement. 
 The holder of this Note is authorized to
endorse the date and amount of each Loan and each payment of principal and interest with respect thereto and its character as a Revolving Loan or a Competitive Loan and as a LIBOR Rate Loan or an Alternate Base Rate Loan on Schedule I annexed
hereto and made a part hereof, or on a continuation thereof which shall be attached hereto and made a part hereof, which endorsement shall constitute prima facie evidence of the accuracy of the information endorsed subject to manifest error;
provided, however, that the failure to make any such endorsement shall not affect the obligations of the undersigned under this Note. 
 This Note is one of the Notes referred to in the Amended and Restated Credit Agreement, dated as of September [    ], 2011 (as amended, restated or otherwise modified, the
“Credit Agreement”), by and among the Borrower, certain Subsidiaries of the Borrower from time to time party thereto (the “Guarantors”), the lenders from time to time party thereto (the “Lenders”)
and Wells Fargo Bank, National Association, as Administrative Agent for the Lenders (the “Administrative Agent”), and is entitled to the benefits thereof. Terms used but not otherwise defined herein shall have the meanings provided
in the Credit Agreement. 

 Upon the occurrence of any one or more of the Events of Default specified in the Credit
Agreement, all amounts then remaining unpaid on this Note shall become, or may be declared to be, immediately due and payable, to the extent and as provided in the Credit Agreement. In the event this Note is not paid when due at any stated or
accelerated maturity, the Borrower agrees to pay, in addition to principal and interest, all costs of collection, including reasonable attorneys’ fees. 
 All parties now and hereafter liable with respect to this Note, whether maker, principal, surety, endorser or otherwise, hereby waive presentment, demand, protest and all other notices of any kind.

 THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, TILE LAW OF FILE STATE OF ILLINOIS,

  

			
	HYATT HOTELS CORPORATION,
	a Delaware corporation
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 SCHEDULE I 
 to 
 Revolving Note 

LOANS AND PAYMENTS OF PRINCIPAL 
  

																	
	 Date
	  	 Amount
of Loan1
	  	 Type
of
Loan
	  	 Interest
Rate
	  	 Interest
Period
	  	 Maturity
Date
	  	 Principal
Paid or
Converted
	  	 Principal
Balance
	  	 Notation
Made By

		  		  		  		  		  		  		  		  	
		  		  		  		  		  		  		  		  	
		  		  		  		  		  		  		  		  	
		  		  		  		  		  		  		  		  	
		  		  		  		  		  		  		  		  	
		  		  		  		  		  		  		  		  	
		  		  		  		  		  		  		  		  	
		  		  		  		  		  		  		  		  	
		  		  		  		  		  		  		  		  	
		  		  		  		  		  		  		  		  	
		  		  		  		  		  		  		  		  	
		  		  		  		  		  		  		  		  	
		  		  		  		  		  		  		  		  	
		  		  		  		  		  		  		  		  	
		  		  		  		  		  		  		  		  	
		  		  		  		  		  		  		  		  	
		  		  		  		  		  		  		  		  	
		  		  		  		  		  		  		  		  	
		  		  		  		  		  		  		  		  	

  

	1 	 The type of Loan may be represented by “L” for LIBOR Rate Loans or “ABR” for Alternate Base Rate Loans.

 Schedule 2.2(b)-1 

FORM OF COMPETITIVE BID REQUEST 
 Wells Fargo Bank, National 
 Association, as Administrative Agent 

Minneapolis Loan Center 
 733 Marquette Avenue

 10th Floor, MAC: N9306-102 
 Minneapolis, Minnesota 55402 
 Attn: Joann M. Adams 

 

	 	Re:	Amended and Restated Credit Agreement dated as of September 9, 2011 (as amended, restated or otherwise modified from time to time, the “Credit
Agreement”) among HYATT HOTELS CORPORATION, a Delaware corporation, (the “Borrower”), certain Subsidiaries of the Borrower from time to time party thereto (the “Guarantors”) the Lenders identified therein
and Wells Fargo Bank, National Association, as Administrative Agent. Capitalized terms used herein but not otherwise defined herein shall have the meanings provided in the Credit Agreement. 

Ladies and Gentlemen: 
 The
undersigned hereby gives you notice pursuant to Section 2.2(b)-1 of the Credit Agreement that it requests solicitation of Competitive Bids under the Credit Agreement, and in connection therewith sets forth below the terns on which the related
Competitive Loan borrowing is requested to he made: 
  

							
	(A)	  	Date of Competitive Loan Borrowing (which is a Business Day)	    	  
	  	
				
	(B)	  	Principal Amount of Competitive Loan Borrowing	    	  
	  	
				
	(C)	  	Interest Period (must be a period of not less than 7 days and not greater than 180 days)	    	             days	  	

 In accordance with the requirements of Section 2.2, the Borrower hereby certifies: 

(A) the representations and warranties contained in the Credit Agreement and in the other Credit Documents are true and
correct in all material respects (it being understood that any representation or warranty which by its terms is made as of a specified date shall be required to be true and correct only on and as of such specified date); 

 (B) no Default or Event of Default has occurred and is continuing; and

 (C) (i) the sum of outstanding Revolving Loans plus LOC Obligations plus Swingline Loans shall
not exceed the Aggregate Revolving Committed Amount, (ii) the LOC Obligations shall not exceed the LOC Committed Amount and (iii) the outstanding Swingline Loans shall not exceed the Swingline Committed Amount. 

 
	
	HYATT HOTELS CORPORATION,
	a Delaware corporation
	
	By:
	Name:
	Title:

 Schedule 2.2(b)-2 

FORM OF NOTICE OF RECEIPT OF COMPETITIVE BID REQUEST 
 [Name of Lender] 
 [Address] 
 Attention: 
  

	 	Re:	Amended and Restated Credit Agreement dated as of September 9, 2011 (as amended, restated or otherwise modified from time to time, the “Credit
Agreement”) among HYATT HOTELS CORPORATION, a Delaware corporation, (the “Borrower”), certain Subsidiaries of the Borrower from time to time party thereto (the “Guarantors”), the Lenders identified therein
and Wells Fargo Bank, National Association, as Administrative Agent. Capitalized terms used herein but not otherwise defined herein shall have the meanings provided in the Credit Agreement. 

Ladies and Gentlemen: 
 HYATT
HOTELS CORPORATION, a Delaware corporation, being the Borrower under the above-referenced Credit Agreement, made a Competitive Bid Request on             , 20    ,
pursuant to Section 2.2(b) of the Credit Agreement, and in connection therewith you are invited to submit a Competitive Bid by 10:00 A.M. (Charlotte, North Carolina time)             ,
20     [Date of Proposed Competitive Loan Borrowing]. Your Competitive Bid must comply with Section 2.2(c) of the Credit Agreement and the terms set forth below on which the Competitive Bid Request was made: 

 

							
	(A)	  	Date of Competitive Loan Borrowing	    	  
	  	
				
	(B)	  	Principal Amount of Competitive Loan Borrowing	    	  
	  	
				
	(C)	  	Interest Period	    	             days	  	

  

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent
		
	By:	 	  

	Name:	 	
	Title:	 	

 Schedule 2.2(c) 

FORM OF COMPETITIVE BID 

Wells Fargo Bank, National 
 Association, as
Administrative Agent 
 Minneapolis Loan Center 
 733 Marquette Avenue 
 10th Floor, MAC: N9306-102 

Minneapolis, Minnesota 55402 
 Attn: Joann M.
Adams 
  

	 	Re:	Amended and Restated Credit Agreement dated as of September 9, 2011 (as amended, restated or otherwise modified from time to time, the “Credit
Agreement”) among HYATT HOTELS CORPORATION, a Delaware corporation, (the “Borrower”), certain Subsidiaries of the Borrower from time to time party thereto (the “Guarantors”), the Lenders identified therein
and Wells Fargo Bank, National Association, as Administrative Agent. Capitalized terms used herein but not otherwise defined herein shall have the meanings provided in the Credit Agreement. 

Ladies and Gentlemen: 
 The
undersigned [Name of Lender], hereby makes a Competitive Bid pursuant to Section 2.2(c) of the Credit Agreement, in response to the Competitive Bid Request made by the Borrower on
            , 20    , and in that connection sets forth below the terms on which such Competitive Bid is made: 

 

													
	(A)	  	Principal Amount	  	minimum:	 	  
	  		  	
		  		 		  	maximum:	 	  
	  		  	
				
		  	NOTE:	 	THE PRINCIPAL AMOUNT SHALL NOT BE LESS THAN $3,000,000 AND INTEGRAL MULTIPLES OF $1,000,000 IN EXCESS THEREOF.	  	
				
	(B)	  	Competitive Bid Rate	  	  
	  	
				
	(C)	  	Interest Period	  	             days	  	

 The undersigned hereby confirms that it is prepared, subject to the conditions set forth in the Credit
Agreement, to extend credit to the Borrower upon acceptance by the Borrower of this bid in accordance with Section 2.2(e) of the Credit Agreement. 

 

			
	[NAME OF LENDER]
		
	By:	 	  

	Name:	 	
	Title:	 	

 Schedule 2.2(e) 

FORM OF COMPETITIVE BID ACCEPT/REJECT LETTER 
 Wells Fargo Bank, National 
 Association, as Administrative Agent 

Minneapolis Loan Center 
 733 Marquette Avenue

 10th Floor, MAC: N9306-102 
 Minneapolis, Minnesota 55402 
 Attn: Joann M. Adams 

 

	 	Re:	Amended and Restated Credit Agreement dated as of September 9, 2011 (as amended, restated or otherwise modified from time to time, the “Credit
Agreement”) among HYATT HOTELS CORPORATION, a Delaware corporation, (the “Borrower”), certain Subsidiaries of the Borrower from time to time party thereto (the “Guarantors”), the Lenders identified therein
and Wells Fargo Bank, National Association, as Administrative Agent Capitalized terms used herein but not otherwise defined herein shall have the meanings provided in the Credit Agreement. 

Ladies and Gentlemen: 
 In
connection with our Competitive Bid Request dated             , 20     and in accordance with Section 2.2(e) of the Credit Agreement, we hereby accept the following
bids for maturity on [date]: 
  

											
	 Principal Amount
	 	  	Competitive Bid Rate	 	 	Interest Period	  	Lender
				
	$	 	  	  	 	[	%] 	 		  	
	$	 	  	  	 	[	%] 	 		  	

 We hereby reject the following bids: 
  

											
	 Principal Amount
	 	  	Competitive Bid Rate	 	 	Interest Period	  	Lender
				
	$	 	  	  	 	[	%] 	 		  	
	$	 	  	  	 	[	%] 	 		  	

  

	
	HYATT HOTELS CORPORATION,
	a Delaware corporation
	
	By:
	Name:
	Title:

 Schedule 2.3(d) 

[FORM OF] 

SWINGLINE NOTE 
 September     , 2011 
 FOR VALUE RECEIVED,
the undersigned, HYATT HOTELS CORPORATION, a Delaware corporation (the “Borrower”) hereby unconditionally promises to pay on the Maturity Date (as defined in the Credit Agreement referred to below), to the order of WELLS FARGO BANK,
NATIONAL ASSOCIATION (the “Swingline Lender”) at the office of Wells Fargo Bank, National Association, located at 733 Marquette Avenue, 10th Floor, Minneapolis, Minnesota 55402, in lawful money of the United States of America and in immediately available
funds, the aggregate unpaid principal amount of all Swingline Loans made by the Swingline Lender to the undersigned pursuant to Section 2.3 of the Credit Agreement referred to below. The undersigned further agrees to pay interest in like money
at such office on the unpaid principal amount hereof and, to the extent permitted by law, accrued interest in respect hereof from time to time from the date hereof until payment in full of the principal amount hereof and accrued interest hereon, at
the rates and on the dates set forth in the Credit Agreement. 
 The holder of this Note is authorized to endorse the date and
amount of each Swingline Loan pursuant to Section 2.3 of the Credit Agreement and each payment of principal and interest with respect thereto and its character as an Alternate Base Rate Loan or otherwise on Schedule I annexed hereto and
made a part hereof, or on a continuation thereof which shall be attached hereto and made a part hereof, which endorsement shall constitute prima facie evidence of the accuracy of the information endorsed subject to manifest error;
provided, however, that the failure to make any such endorsement shall not affect the obligations of the undersigned under this Note. 
 This Note is the Swingline Note referred to in the Amended and Restated Credit Agreement, dated as of September 9, 2011 (as amended, restated or otherwise modified, the “Credit
Agreement”) by and among the Borrower, certain Subsidiaries of the Borrower from time to time party thereto (the “Guarantors”), the lenders from time to time party thereto (the “Lenders”) and Wachovia Bank,
National Association, as Administrative Agent for the Lenders (the “Administrative Agent”), and is entitled to the benefits thereof. Terms used but not otherwise defined herein shall have the meanings provided in the Credit
Agreement. 
 Upon the occurrence of any one or more of the Events of Default specified in the Credit Agreement, all amounts
then remaining unpaid on this Note shall become, or may be declared to be, immediately due and payable, to the extent and as provided in the Credit Agreement. In the event this Note is not paid when due at any stated or accelerated maturity, the
Borrower agrees to pay, in addition to principal and interest, all costs of collection, including reasonable attorneys’ fees. 
 All parties now and hereafter liable with respect to this Note, whether maker, principal, surety, endorser or otherwise, hereby waive presentment, demand, protest and all other notices of any kind.

 [Signature on Following Page] 

 THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF
THE STATE OF ILLINOIS. 
  

			
	 HYATT HOTELS CORPORATION,
 a Delaware corporation

		
	By:	 	  

	Name:	 	  

	Title:	 	  

 SCHEDULE 1 
 to 
 Swingline Note 

LOANS AND PAYMENTS OF PRINCIPAL 
  

													
	 Date
	  	 Amount
 of
 Loan
	  	 Type
 of
 Loan
	  	 Interest

Rate
	  	 Principal

Paid
	  	 Principal
Balance
	  	 Notation
Made By

		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	

 Schedule 2.7 
 [FORM OF] 
 NOTICE OF CONVERSION/EXTENSION 

[Date] 
 Wells Fargo Bank,
National Association, 
 as Administrative Agent 
 Minneapolis Loan Center 
 733 Marquette Avenue 

10th
 Floor, MAC: N9306-102 
 Minneapolis, Minnesota 55402 

Attn: Joann M. Adams 
 Ladies and Gentlemen:

 Pursuant to Section 2.7 of the Amended and Restated Credit Agreement, dated as of September 9, 2011 (as amended,
restated or otherwise modified, the “Credit Agreement”), by and among HYATT HOTELS CORPORATION, a Delaware corporation (the “Borrower”), certain Subsidiaries of the Borrower from time to time party thereto (the
“Guarantors”), the lenders from time to time party thereto (the “Lenders”) and Wells Fargo Bank, National Association, as Administrative Agent for the Lenders (the “Administrative Agent”), the
Borrower hereby requests conversion or extension of the following Loans be made on [date] as follows (the “Proposed Conversion/Extension”) 
  

									
	 (1)
	 	 Total Amount of Loans to be converted/extended
	  	$	_____	  
			
	 (2)
	 	 Currency requested
	  	 	_____	  
			
	 (3)
	 	 Amount of (1) to be allocated to LIBOR Rate Loans
	  	$	_____	  
			
	 (4)
	 	 Amount of (1) to be allocated to Alternate Base Rate Loans
	  	$	_____	  
			
	 (5)
	 	 Interest Periods and amounts to be allocated thereto in respect of LIBOR Rate Loans (amounts must total
(3)):
	  			
				
		 	 (i)
	  	 one month
	  	$	_____	  
				
		 	 (ii)
	  	 two months
	  	$	_____	  
				
		 	 (iii)
	  	 three months
	  	$	_____	  
				
		 	 (iv)
	  	 six months
	  	$	_____	  
			
		 	 Total LIBOR Rate Loans
	  	$	_____	  

	 	NOTE:	PARTIAL CONVERSIONS MUST BE IN MINIMUM AMOUNTS OF (A) WITH RESPECT TO LIBOR RATE LOANS, $5,000,000 AND $1,000,000 INCREMENTS IN EXCESS THEREOF AND (B) WITH
RESPECT TO ALTERNATE BASE RATE LOANS, $1,000,000 AND $250,000 INCREMENTS TN EXCESS THEREOF. 

 Terms defined in
the Credit Agreement shall have the same meanings when used herein. 

 The undersigned hereby certifies that no Default or Event of Default has occurred and is
continuing, or would result from such Proposed Conversion/Extension or from the application of the proceeds thereof. 
  

			
	Very truly yours,
	
	 HYATT HOTELS CORPORATION,
 a Delaware corporation

		
	By:	 	  

	Name:	 	  

	Title:	 	  

 Schedule 2.18 
 [FORM OF] 
 SECTION 2.18 CERTIFICATE 

Reference is hereby made to the Amended and Restated Credit Agreement, dated as of September 9, 2011 (as amended, restated or otherwise
modified, the “Credit Agreement), by and among HYATT HOTELS CORPORATION, a Delaware corporation (the “Borrower”), certain subsidiaries of the Borrower from time to time party thereto (the “Guarantors”),
the lenders from time to time party thereto (the “Lenders”) and Wells Fargo Bank, National Association, as Administrative Agent for the Lenders (the “Administrative Agent”). Pursuant to the provisions of
Section 2.18 of the Credit Agreement, the undersigned hereby certifies that it is not a “bank” as such term is used in Section 881(c)(3)(A) of the Internal Revenue Code of 1986, as amended. 

 

			
	[NAME OF LENDER]
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 Schedule 3.1 
 Indebtedness 
 Material changes to consolidated Indebtedness since December 31,
2010 
  

													
	 1. LONG-TERM DEBT
	  		  		  		  		  			
						
	 Additional Debt
	  		  		  		  		  			
						
	Description	  	Borrower	  	Lender	  	Classification	  	Maturity	  	Principal Amount	 
						
	 5.375% Senior Notes due 2021
	  	 Hyatt Hotels Corporation
	  	 3rd Party Bondholders
	  	Long-Term	  	August 15, 2016	  	$	250,000,000.00	  
	 3.875% Senior Notes due 2017
	  	 Hyatt Hotels Corporation
	  	 3rd Party Bondholders
	  	Long-Term	  	August 15, 2021	  	$	250,000,000.00	  
		  		  		  		  		  	  
	  
	 
						
	 Total
	  		  		  		  		  	$	500,000,000.00	  
		  		  		  		  		  	  
	  
	 
						
	 Debt Repaid / Retired
	  		  		  		  		  			
						
	 None
	  		  		  		  		  			
						
	 2. GUARANTEES
	  		  		  		  		  			
						
	 No material changes
	  		  		  		  		  			
						
	 3. LETTERS OF CREDIT
	  		  		  		  		  			
						
	 LCs Under Revolver at 12/31/10:
	  		  		  		  		  	$	71,284,625.63	  
	 Increase/(Decrease) in LCs Under Revolver Since 12/31/10
	  		  		  		  	 	(10,878,116.65	) 
		  		  		  		  		  	  
	  
	 
	 LCs Under Revolver at 8/31/11:
	  		  		  		  		  	$	60,406,508.98	  

 Schedule 3.12 
 Subsidiaries 
  

							
	 Name
	  	 Jurisdiction of
 Incorporation or

Organization
	  	 Percentage of shares of each class of stock/equity

interest outstanding that is owned by Hyatt Hotels

Corporation or its subsidiaries
	  	 Material

Subsidiary

	1300 NICOLLET, L.L.C.	  	DELAWARE	  	50% membership interest held by Loring Park Associates, Limited Partnership in Starhill Loring Park, L.L.C., the entity’s sole member	  	
	1379919 ALBERTA INC.	  	ALBERTA, CANADA	  	Hyatt Hotels of Canada, Inc. (100%)	  	
	319168 ONTARIO LIMITED	  	ONTARIO, CANADA	  	Hyatt Corporation (100%)	  	
	3385434 CANADA INC.	  	CANADA	  	Hyatt Hotels of Canada, Inc. (100%)	  	
	44 LEXINGTON ASSOCIATES, LLC	  	NEW YORK	  	Hyatt Corporation (100% Class B Member)	  	
	AASHIRWAD CONBUILD PRIVATE LIMITED	  	INDIA	  	HP India Holdings Limited (26%)	  	
	ADHP LLC	  	DELAWARE	  	HP Austin, L.L.C. (50%)	  	
	AIC HOLDING CO.	  	DELAWARE	  	Hyatt Hotels Corporation (100%)	  	
	AIRPORT PLAZA ASSOCIATES LIMITED PARTNERSHIP	  	VIRGINIA	  	Hyatt Crystal City, L.L.C. (50% GP interest)	  	
	AIRPORT PLAZA HOTEL LLC	  	DELAWARE	  	50% GP interest held by Hyatt Crystal City, L.L.C. in Airport Plaza Associates Limited Partnership, which is the entity’s sole member	  	
	AIRPORT PLAZA OFFICE BUILDING LIMITED PARTNERSHIP	  	VIRGINIA	  	Hyatt CC Office Corp. (50% GP interest)	  	
	AMERISUITES FRANCHISING L.L.C.	  	DELAWARE	  	Select Hotels Group, L.L.C. (100%)	  	
	ARANCIA LIMITED	  	HONG KONG (PRC)	  	Hyatt International Asia-Pacific, Limited (93%)	  	
	ARCADE, L.L.C.	  	ILLINOIS	  	Hyatt Arcade, L.L.C. (50%)	  	
	ARUBA BEACHFRONT RESORTS LIMITED PARTNERSHIP	  	ILLINOIS	  	Hyatt Aruba N.V. (81.274% LP); Hyatt Beach Front N.V. (17.786% LP); Aruba Beachfront Resorts N.V. (0.940% GP)	  	X
	ARUBA BEACHFRONT RESORTS N.V.	  	ARUBA	  	Hyatt Aruba N.V. (95.71%); Hyatt Beach Front N.V. (4.29%)	  	
	ASIA HOSPITALITY INVESTORS B.V.	  	NETHERLANDS	  	Asian Hotel N.V. (100%)	  	
	ASIA HOSPITALITY, INC.	  	CAYMAN ISLANDS	  	Hotel Investors I, Inc. Luxembourg, Schaffhausen Branch (100%)	  	
	ASIAN HOTEL N.V.	  	CURACAO	  	Hotel Investors I, Inc. Luxembourg, Schaffhausen Branch (100%)	  	
	ATRIUM HOTEL, L.L.C.	  	DELAWARE	  	Hyatt Equities, L.L.C. (100%)	  	
	BAKU HOTEL COMPANY - AZERI	  	AZERBAIJAN	  	Baku Hotel Company, a Cayman Islands company (100%)	  	X

							
	 Name
	  	 Jurisdiction of
 Incorporation or

Organization
	  	 Percentage of shares of each class of stock/equity

interest outstanding that is owned by Hyatt Hotels

Corporation or its subsidiaries
	  	 Material

Subsidiary

	BAKU HOTEL COMPANY - CAYMAN	  	CAYMAN ISLANDS	  	Settlement Investors, Inc. (100%)	  	
	BAY II INVESTOR, INC.	  	NEVADA	  	Hyatt Corporation (100%)	  	
	BEACH HOUSE DEVELOPMENT PARTNERSHIP	  	FLORIDA	  	HTS-Beach House, Inc. (50% GP)	  	
	BEAR CREEK DFW ASSOCIATES, LTD.	  	TEXAS	  	H.E. DFW, L.P. (45% LP) and HT-DFW Partnership (5% LP)	  	
	BELLEVUE ASSOCIATES	  	PENNSYLVANIA	  	Hyatt Equities, L.L.C. (50% LP)	  	
	BOSTON HOTEL COMPANY, L.L.C.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	BOTTLING COURT PARTNERS (GENERAL PARTNERSHIP)	  	FLORIDA	  	HT-Hotel Equities, Inc. (50% GP)	  	
	BRE/AMERISUITES PROPERTIES L.L.C.	  	DELAWARE	  	Select Hotels Group, L.L.C. (100%)	  	X
	BRE/AMERISUITES TXNC GP L.L.C.	  	DELAWARE	  	Select Hotels Group, L.L.C. (100%)	  	
	BRE/AMERISUITES TXNC PROPERTIES L.P.	  	DELAWARE	  	BRE/AmeriSuites TXNC GP, L.L.C. (GP 1%); Select Hotels Group, L.L.C. (LP 99%)	  	X
	BURVAN HOTEL ASSOCIATES	  	ONTARIO, CANADA	  	HT-Vancouver, Inc. (75% GP); 319168 Ontario Limited (25% GP)	  	
	CAL-HARBOR SO. PIER URBAN RENEWAL ASSOCIATES L.P.	  	NEW JERSEY	  	HT-Jersey Pier, L.P. (50% GP)	  	
	CAMEL COMPANY PARTNERSHIP	  	SOUTH CAROLINA	  	Hyatt Corporation (20% GP)	  	
	CDP GP, INC.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	CDP INVESTORS, L.P.	  	DELAWARE	  	CDP GP, Inc. (1% GP); HTS-BC, Inc. (99% LP)	  	
	CERROMAR DEVELOPMENT PARTNERS GP, INC.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	CERROMAR DEVELOPMENT PARTNERS L.P., S.E.	  	DELAWARE	  	Cerromar Development Partners GP, Inc. (1% GP); CDP Investors, L.P. (99% LP)	  	
	CHESAPEAKE COMMUNITIES, LLC	  	MARYLAND	  	HT-Chesapeake Communities, Inc. (62.010%)	  	
	CHESAPEAKE RESORT, LLC	  	MARYLAND	  	HT-Chesapeake Resort, Inc. (33 1/3%)	  	
	CLEVELAND ARCADE L.L.C.	  	DELAWARE	  	Hyatt Arcade, L.L.C. (50%)	  	
	COAST BEACH, L.L.C.	  	DELAWARE	  	HT-Huntington Beach, Inc. (100%)	  	
	CPM SEATTLE HOTELS, L.L.C.	  	WASHINGTON	  	Hyatt Equities, L.L.C. (100%)	  	
	CTR INTEREST HOLDCO, INC.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	CYPRESS TITLEHOLDER, LLC	  	DELAWARE	  	Fan Pier Land Company (100%)	  	
	DALLAS REGENCY, LLC	  	TEXAS	  	Hyatt Corporation (100%)	  	
	DFW ASSOCIATES AGREEMENT VENTURE	  	TEXAS	  	H.E. DFW, L.P. (45% LP); HT-DFW Partnership (5% LP)	  	

							
	 Name
	  	 Jurisdiction of
 Incorporation or

Organization
	  	 Percentage of shares of each class of stock/equity

interest outstanding that is owned by Hyatt Hotels

Corporation or its subsidiaries
	  	 Material

Subsidiary

	EAST TOWER HOTEL GP, L.L.C.	  	DELAWARE	  	45% LP interest held by H.E. DFW, L.P. and 5% LP interest held by HT-DFW Partnership in Bear Creek DFW Associates, Ltd., the sole member of the entity	  	
	EAST TOWER HOTEL, L.P.	  	TEXAS	  	East Tower Hotel GP, L.L.C. (.5% GP); Bear Creek DFW Associates, Ltd. (99.5% LP)	  	
	EAST WEST RESORT DEVELOPMENT VI, L.P., L.L.L.P.	  	DELAWARE	  	HTS-Main Street Station, Inc. (43.3293% LP interest)	  	
	EAST WEST RESORT DEVELOPMENT XII, L.P., L.L.L.P.	  	DELAWARE	  	HTS - NS, L.L.C. (23.1547% LP)	  	
	EMERYVILLE LLC	  	DELAWARE	  	Fan Pier Land Company (100%)	  	
	EQUIBY LIMITED	  	JERSEY	  	Hyatt International Corporation (25%)	  	
	FAN PIER LAND COMPANY	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	FAR EAST HOTELS, INC.	  	BAHAMAS	  	Hotel Investors II, Inc. (100%)	  	
	G.E.H. PROPERTIES LIMITED	  	UNITED KINGDOM	  	The Great Eastern Hotel Company Limited (100%)	  	
	GAINEY DRIVE ASSOCIATES (GENERAL PARTNERSHIP)	  	ARIZONA	  	Hyatt Equities, L.L.C. (57%); Hyatt Partnership Interests, L.L.C. (43%)	  	X
	GALAXY AEROSPACE COMPANY, LLC	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	GHE HOLDINGS LIMITED	  	PRC	  	Hyatt International - Asia Pacific, Limited (100%)	  	
	GILBERT/HP, LLC	  	DELAWARE	  	BRE/AmeriSuites Properties L.L.C. (50%)	  	
	GRAND ASPEN HOLDINGS, LLC	  	DELAWARE	  	HTS-Aspen, L.L.C. (41.20%)	  	
	GRAND HYATT BERLIN GMBH	  	GERMANY	  	Hyatt International Corporation (100%)	  	
	GRAND HYATT DFW BEVERAGE, LLC	  	TEXAS	  	Hyatt Corporation (100%)	  	
	GRAND HYATT SAN ANTONIO, L.L.C.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	GRAND HYATT SF, L.L.C.	  	DELAWARE	  	HTSF, L.L.C. (100%)	  	X
	GRAND RIVERWALK BEVERAGE, LLC	  	TEXAS	  	Hyatt Corporation (100%)	  	
	GRAND TORONTO CORP.	  	DELAWARE	  	Hyatt Hotels Corporation (100%)	  	
	GRAND TORONTO VENTURE, L.P.	  	DELAWARE	  	Grand Toronto Corp. (10% GP); Hyatt Hotels Corporation (90% LP)	  	
	GREENWICH HOTEL LIMITED PARTNERSHIP	  	CONNECTICUT	  	Hyatt Partnership Interests, L.L.C. (50% GP); Hyatt Equities, L.L.C. (50% GP & LP)	  	
	H.E. BERMUDA, L.L.C.	  	DELAWARE	  	Hyatt Equities, L.L.C. (100%)	  	
	H.E. CAP CANA, L.L.C.	  	DELAWARE	  	Hyatt Equities, L.L.C. (100%)	  	
	H.E. DFW, L.P.	  	DELAWARE	  	H.E. Properties, Inc. (1% GP); Hyatt Equities, L.L.C. (99% LP)	  	

							
	 Name
	  	 Jurisdiction of
 Incorporation or

Organization
	  	 Percentage of shares of each class of stock/equity

interest outstanding that is owned by Hyatt Hotels

Corporation or its subsidiaries
	  	 Material

Subsidiary

	H.E. GRAND CYPRESS, L.L.C.	  	DELAWARE	  	Hyatt Equities, L.L.C. (100%)	  	
	H.E. NEWPORT, L.L.C.	  	DELAWARE	  	Hyatt Equities, L.L.C. (100%)	  	
	H.E. ORLANDO, L.L.C.	  	DELAWARE	  	Hyatt Equities, L.L.C. (100%)	  	
	H.E. PROPERTIES, INC.	  	DELAWARE	  	Hyatt Equities, L.L.C. (100%)	  	
	H.E. PROPERTIES, L.L.C.	  	DELAWARE	  	Hyatt Equities, L.L.C. (100%)	  	
	H.E. SAN ANTONIO I, L.L.C.	  	DELAWARE	  	Hyatt Equities, L.L.C. (100%)	  	
	H.E. SAN ANTONIO, L.L.C.	  	DELAWARE	  	Hyatt Equities, L.L.C. (100%)	  	X
	H.E. SARP, L.P.	  	DELAWARE	  	H.E. Properties, Inc. (1% GP); Hyatt Equities, L.L.C. (99% LP)	  	
	HARBORSIDE HOTEL LLC	  	DELAWARE	  	HT-Jersey Pier, L.P. (managing member 40%); Hyatt Corporation (managing member 10%)	  	
	HARBORSIDE LAND, LLC	  	DELAWARE	  	HT-Jersey Pier, L.P. (managing member 50%)	  	
	HCG CORPORATION	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HCV CINCINNATI HOTEL, INC.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HDG ASSOCIATES	  	ILLINOIS	  	HT-Santa Barbara Motel, Inc. (99% GP) (managing general partner); HT-Santa Barbara Motel Partnership (0.67% GP)	  	
	HEDREEN HOTEL LLC	  	WASHINGTON	  	HE-Seattle, L.L.C. (49.99%)	  	
	HEDREEN HOTEL TWO LLC	  	WASHINGTON	  	HE-Seattle Two, L.L.C. (49.99%)	  	
	HE-SEATTLE TWO, L.L.C.	  	DELAWARE	  	Hyatt Equities, L.L.C. (100%)	  	
	HE-SEATTLE, L.L.C.	  	DELAWARE	  	Hyatt Equities, L.L.C. (100%)	  	
	HGP (TRAVEL) LIMITED	  	HONG KONG (PRC)	  	Hyatt International-Asia Pacific Limited (100%)	  	
	HI HOLDINGS (SWITZERLAND) GMBH	  	SWITZERLAND	  	HI Holdings Cyprus Limited (100%)	  	
	HI HOLDINGS CYPRUS LIMITED	  	CYPRUS	  	HI Holdings Luxembourg SARL (100%)	  	
	HI HOLDINGS CYPRUS-INDIA LIMITED	  	CYPRUS	  	HI Holdings Cyprus Limited (100%)	  	
	HI HOLDINGS HP BRAZIL S.A.R.L.	  	LUXEMBOURG	  	HI Holdings Cyprus Limited (100%)	  	
	HI HOLDINGS KYOTO CO.	  	DELAWARE	  	Hyatt International Holdings Co. (100%)	  	
	HI HOLDINGS LUXEMBOURG S.A.R.L.	  	LUXEMBOURG	  	Hyatt International Holdings Co. (100%)	  	
	HI HOLDINGS RIO S.A.R.L.	  	LUXEMBOURG	  	HI Holdings Cyprus Limited (100%)	  	
	HI HOLDINGS ZURICH S.A.R.L.	  	LUXEMBOURG	  	HI Holdings (Switzerland) GmbH (100%)	  	
	HI HOTEL ADVISORY SERVICES GMBH	  	SWITZERLAND	  	HI Holdings Luxembourg S.a.r.l. (100%)	  	
	HI HOTEL INVESTORS CYPRUS LIMITED	  	CYPRUS	  	HI Holdings Cyprus Limited (100%)	  	
	HIGHLANDS INN INVESTORS II, L.P.	  	DELAWARE	  	HT-Highlands, Inc. (90% GP)	  	
		  		  		  	

							
	 Name
	  	 Jurisdiction of
 Incorporation or

Organization
	  	 Percentage of shares of each class of stock/equity

interest outstanding that is owned by Hyatt Hotels

Corporation or its subsidiaries
	  	 Material

Subsidiary

	HIGHLANDS INN WASTEWATER TREATMENT PLANT ASSOCIATION, INC.	  	CALIFORNIA	  	None - nonprofit mutual benefit corporation	  	
	HIHCL AMSTERDAM B.V.	  	NETHERLANDS	  	HI Holdings Luxembourg S.A.R.L. (100%)	  	
	HIHCL HP AMSTERDAM AIRPORT B.V.	  	NETHERLANDS	  	HI Holdings Luxembourg S.a.r.l. (100%)	  	
	HOTEL EQUITIES LUXEMBOURG S.A.R.L.	  	LUXEMBOURG	  	Hyatt Hotels Corporation (100%)	  	
	HOTEL INVESTMENTS HOLDING CO LLC	  	DELAWARE	  	Grand Hyatt San Antonio, L.L.C. (29.959%);	  	
	HOTEL INVESTMENTS, L.P.	  	DELAWARE	  	29.959% member interest held by Grand Hyatt San Antonio , L.L.C. in Hotel Investments Holding Co LLC, the 99.999% limited partner of the entity	  	
	HOTEL INVESTORS I, INC.	  	LUXEMBOURG	  	HI Holdings Cyprus Limited (100%)	  	
	HOTEL INVESTORS II, INC.	  	CAYMAN ISLANDS	  	HI Holdings Cyprus Limited (100%)	  	
	HOTEL JV SERVICES, LLC	  	DELAWARE	  	Hyatt MSS, L.L.C. (20% Class A Member)	  	
	HOTEL PROJECT SYSTEMS PTE LTD	  	SINGAPORE	  	HI Holdings Cyprus Limited (100%)	  	
	HP AUSTIN, L.L.C.	  	DELAWARE	  	BRE/AmeriSuites TXNC Properties L.P. (100%)	  	
	HP BEVERAGE SUGAR LAND, LLC	  	TEXAS	  	BRE/AmeriSuites TXNC Properties L.P. (100%)	  	
	HP DALLAS CLUB	  	TEXAS	  	None - nonprofit corporation	  	
	HP INDIA HOLDINGS LIMITED	  	MAURITIUS	  	HI Holdings Cyprus Limited (100%)	  	
	HP LAS VEGAS BEVERAGE, L.L.C.	  	NEVADA	  	Select Hotels Group, L.L.C. (100%)	  	
	HP PUERTO RICO, INC.	  	DELAWARE	  	Select Hotels Group, L.L.C. (100%)	  	
	HP ROUTE 46 TEXAS, LLC	  	TEXAS	  	Route 46 Management Associates Corp. (100%)	  	
	HP TEN TEXAS, LLC	  	TEXAS	  	BRE/AmeriSuites Properties L.L.C. (100%)	  	
	HQ CHESAPEAKE, LLC	  	MARYLAND	  	HT-Chesapeake Communities, Inc. (70% and managing member)	  	
	HRHC, LLC	  	TEXAS	  	Hyatt Corporation (100%)	  	
	HT-AUSTIN RESORT, L.L.C.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HT-AVENDRA, INC.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HT-AVENDRA, L.L.C.	  	DELAWARE	  	HT-Avendra, Inc. (100%)	  	
	HT-BUFFALO, INC.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HT-CHESAPEAKE COMMUNITIES, INC.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HT-CHESAPEAKE RESORT, INC.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HTDF, L.L.C.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HT-DFW PARTNERSHIP	  	ILLINOIS	  	HTDF, L.L.C. (1% GP); Hyatt Executives Partnership - Amfac, L.P. (99% GP)	  	

							
	 Name
	  	 Jurisdiction of
 Incorporation or

Organization
	  	 Percentage of shares of each class of stock/equity

interest outstanding that is owned by Hyatt Hotels

Corporation or its subsidiaries
	  	 Material

Subsidiary

	HT-FISHERMAN’S WHARF, L.L.C.	  	DELAWARE	  	HTFW, L.L.C. (100%)	  	
	HT-FRANCHISE INVESTMENT GROUP, LLC	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HTFW, L.L.C.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HTG, L.L.C.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HT-GREENVILLE, L.L.C.	  	DELAWARE	  	HTG, L.L.C. (100%)	  	
	HT-HIGHLANDS, INC.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HT-HOMESTEAD, INC.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HT-HOTEL EQUITIES, INC.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HT-HUNTINGTON BEACH, INC.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HT-JERSEY PIER, INC.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HT-JERSEY PIER, L.P.	  	DELAWARE	  	HT-Jersey Pier, LLC (10% GP); HT-Jersey Pier, Inc. (90% LP)	  	
	HT-JERSEY PIER, LLC	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HTLB, L.L.C.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HT-LISLE HOTEL, L.L.C.	  	DELAWARE	  	HT-Lisle, Inc. (100%)	  	
	HT-LISLE, INC.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HT-LONG BEACH, L.L.C.	  	DELAWARE	  	HTLB, L.L.C. (100%)	  	
	HT-NEW ORLEANS HOTEL, L.L.C.	  	DELAWARE	  	Hyatt HOC, Inc. (100%)	  	
	HT-NEW PRINCETON, INC.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HT-PARK 57, INC.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HTS - NS, L.L.C.	  	DELAWARE	  	HTS-Investment, Inc. (100%)	  	
	HTS - NY, L.L.C.	  	DELAWARE	  	HTS-BC, Inc. (100%)	  	
	HT-SANTA BARBARA MOTEL PARTNERSHIP	  	ILLINOIS	  	HT-Santa Barbara Motel, Inc. (1% GP) (managing general partner); Hyatt Executives Partnership No. 1, L.P. (99% GP)	  	
	HT-SANTA BARBARA MOTEL, INC.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HTS-ASPEN, L.L.C.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HTS-BC, INC.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HTS-BEACH HOUSE, INC.	  	DELAWARE	  	HTS-BC, Inc. (100%)	  	
	HTS-CHC (SEDONA), LLC	  	DELAWARE	  	HTS-Sedona, Inc. (50% and managing member)	  	X
	HTS-COCONUT POINT, INC.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HTSF, L.L.C.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HTS-GROUND LAKE TAHOE, INC.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HTS-INVESTMENT, INC.	  	DELAWARE	  	Hyatt Corporation (100%)	  	

							
	 Name
	  	 Jurisdiction of
 Incorporation or

Organization
	  	 Percentage of shares of each class of stock/equity

interest outstanding that is owned by Hyatt Hotels

Corporation or its subsidiaries
	  	 Material

Subsidiary

	HTS-KEY WEST, INC.	  	DELAWARE	  	HTS-BC, Inc. (100%)	  	
	HTS-KW, INC.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HTS-LAKE TAHOE, INC.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HTS-LOAN SERVICING, INC.	  	DELAWARE	  	Hyatt Residential Group, Inc. (100%)	  	
	HTS-MAIN STREET STATION, INC.	  	DELAWARE	  	HTS-BC, Inc. (100%)	  	
	HTS-SAN ANTONIO, INC.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HTS-SAN ANTONIO, L.L.C.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HTS-SAN ANTONIO, L.P.	  	DELAWARE	  	HTS-San Antonio, Inc. (1% GP); HTS-San Antonio, L.L.C. (99% LP)	  	
	HTS-SEDONA, INC.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HTS-WILD OAK RANCH BEVERAGE, LLC	  	TEXAS	  	HTS-San Antonio, L.P. (100%)	  	
	HTUP-LISLE HOTEL ASSOCIATES	  	ILLINOIS	  	HT-Lisle, Inc, general partner (50%); HT-Lisle Hotel, L.L.C., limited partner (50%)	  	
	HT-VANCOUVER INC.	  	ONTARIO, CANADA	  	Hyatt Corporation (100%)	  	
	HTW BEVERAGE, LLC	  	TEXAS	  	BRE/AmeriSuites Properties L.L.C. (100%)	  	
	HVC-HIGHLANDS, L.L.C.	  	DELAWARE	  	Highlands Inn Investors II, L.P. (100%)	  	
	HYATT (BABADOS) CORPORATION	  	BARBADOS	  	Hyatt Corporation (100%)	  	
	HYATT (JAPAN) CO., LTD.	  	JAPAN	  	Hyatt International Holdings Co. (100%)	  	
	HYATT (THAILAND) LIMITED	  	THAILAND	  	Hyatt International Holdings Co. (99.4%); Hyatt International-Asia Pacific, Limited, nominee (0.1%); Hyatt International (Asia) Limited, nominee (0.1%); Hyatt Hotel Management
Limited, nominee (0.1%); Hyatt of China Limited, nominee (0.1%); Hyatt of Macau Limited. nominee (0.1%); Hyatt of New Zealand Limited. nominee (0.1%)	  	
	HYATT ARCADE, L.L.C.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HYATT ARUBA N.V.	  	ARUBA	  	Hyatt Corporation (100%)	  	
	HYATT ASIA PACIFIC HOLDINGS LIMITED	  	PRC	  	Hyatt International - Asia Pacific, Limited (100%)	  	
	HYATT AUSTRALIA HOTEL MANAGEMENT PTY LIMITED	  	AUSTRALIA	  	Hyatt International Corporation (100%)	  	
	HYATT AUSTRIA GMBH	  	AUSTRIA	  	HI Holdings Cyprus Limited (100%)	  	
	HYATT BEACH FRONT N.V.	  	ARUBA	  	Hyatt Equities, L.L.C. (100%)	  	
	HYATT BORNEO MANAGEMENT SERVICES LIMITED	  	PRC	  	Hyatt International - Asia Pacific, Limited (100%)	  	

							
	 Name
	  	 Jurisdiction of
 Incorporation or

Organization
	  	 Percentage of shares of each class of stock/equity

interest outstanding that is owned by Hyatt Hotels

Corporation or its subsidiaries
	  	 Material

Subsidiary

	HYATT BRITANNIA CORPORATION LTD.	  	CAYMAN ISLANDS	  	Hyatt Corporation (100%)	  	
	HYATT CC OFFICE CORP.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HYATT CHAIN SERVICES LIMITED	  	PRC	  	Hyatt International-Asia Pacific, Limited (100%)	  	
	HYATT CORPORATION	  	DELAWARE	  	Hyatt Hotels Corporation (100%)	  	X
	HYATT CRYSTAL CITY, L.L.C.	  	DELAWARE	  	Hyatt Partnership Interests, L.L.C. (100%)	  	
	HYATT CURACAO, N.V.	  	CURACAO	  	Hyatt Corporation (100%)	  	
	HYATT DEARBORN, L.L.C.	  	DELAWARE	  	None (a 1031 exchange company)	  	
	HYATT DISASTER RELIEF FUND	  	ILLINOIS	  	None - Non Profit Corporation	  	
	HYATT EQUITIES (DEN), LLC	  	DELAWARE	  	Hyatt Equities, L.L.C. (99%); H.E. Properties, Inc. (1%)	  	
	HYATT EQUITIES, L.L.C.	  	DELAWARE	  	HT-Hotel Equities, Inc. (68.8343%); CTR Interest Holdco, Inc. (31.1657%)	  	X
	HYATT EXECUTIVES PARTNERSHIP - AMFAC, L.P.	  	ILLINOIS	  	HTDF, L.L.C. (1% GP), (15.5% LP); Hyatt Corporation (5% LP); Various executives (78.5% LPs)	  	
	HYATT EXECUTIVES PARTNERSHIP NO. 1, L.P.	  	ILLINOIS	  	Hyatt Corporation (7% LP); HT-Santa Barbara Motel, Inc. (1% GP & 12% LP); Various executives (80% LPs)	  	
	HYATT FOREIGN EMPLOYMENT SERVICES, INC.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HYATT FRANCHISING CANADA CORP.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HYATT FRANCHISING, L.L.C.	  	DELAWARE	  	Hyatt Hotels Corporation (100%)	  	
	HYATT FULFILLMENT OF MARYLAND, INC.	  	MARYLAND	  	Hyatt Corporation (100%)	  	
	HYATT HOC, INC.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HYATT HOLDINGS (UK) LIMITED	  	UNITED KINGDOM	  	HI Holdings Cyprus Limited (100%)	  	
	HYATT HOTEL MANAGEMENT LIMITED	  	HONG KONG (PRC)	  	HI Holdings Cyprus Limited (100%)	  	
	HYATT HOTELS CORPORATION	  	DELAWARE	  	Ultimate Parent Company	  	
	HYATT HOTELS CORPORATION OF KANSAS	  	KANSAS	  	Hyatt Corporation (100%)	  	
	HYATT HOTELS CORPORATION OF MARYLAND	  	MARYLAND	  	Hyatt Corporation (100%)	  	
	HYATT HOTELS MANAGEMENT CORPORATION	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HYATT HOTELS OF CANADA, INC.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HYATT HOTELS OF PUERTO RICO, INC.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HYATT INDIA CONSULTANCY PRIVATE LIMITED	  	INDIA	  	HI Holdings Cyprus-India Limited (99.99994%); Hyatt Minority Investments, Inc. (.00006%)	  	
	HYATT INTERNATIONAL - JAPAN, LIMITED	  	HONG KONG (PRC)	  	Hyatt International-Asia Pacific, Limited (100%)	  	

							
	 Name
	  	 Jurisdiction of
 Incorporation or

Organization
	  	 Percentage of shares of each class of stock/equity

interest outstanding that is owned by Hyatt Hotels

Corporation or its subsidiaries
	  	 Material

Subsidiary

	HYATT INTERNATIONAL – SOUTH WEST ASIA, LIMITED	  	DUBAI	  	HI Holdings Cyprus Limited (100%)	  	
	HYATT INTERNATIONAL (ASIA) LIMITED	  	HONG KONG (PRC)	  	HI Holdings Cyprus Limited (100%)	  	X
	HYATT INTERNATIONAL (EUROPE AFRICA MIDDLE EAST) LLC	  	SWITZERLAND	  	HI Holdings (Switzerland) GmbH (100%)	  	X
	HYATT INTERNATIONAL (FUKUOKA) CORPORATION	  	DELAWARE	  	Hyatt International Corporation (100%)	  	
	HYATT INTERNATIONAL (MILAN) CO.	  	DELAWARE	  	Hyatt International Corporation (100%)	  	
	HYATT INTERNATIONAL (OSAKA) CORPORATION	  	DELAWARE	  	Hyatt International Corporation (100%)	  	
	HYATT INTERNATIONAL CORPORATION	  	DELAWARE	  	AIC Holding Co. (100%)	  	X
	HYATT INTERNATIONAL HOLDINGS CO.	  	DELAWARE	  	Hyatt International Corporation (100%)	  	
	HYATT INTERNATIONAL HOTEL MANAGEMENT (BEIJING) CO. LTD.	  	PEOPLE’S REPUBLIC OF CHINA	  	Hyatt of China Limited (100%)	  	
	HYATT INTERNATIONAL PROPERTY MANAGEMENT (BEIJING) CO. LTD.	  	PEOPLE’S REPUBLIC OF CHINA	  	Hyatt of China Limited (100%)	  	
	HYATT INTERNATIONAL SALES LIMITED	  	DELAWARE	  	Hyatt International Corporation (100%)	  	
	HYATT INTERNATIONAL TECHNICAL SERVICES, INC.	  	DELAWARE	  	Hyatt International Corporation (100%)	  	
	HYATT INTERNATIONAL-ASIA PACIFIC, LIMITED	  	HONG KONG (PRC)	  	HI Holdings Cyprus Limited (100%)	  	
	HYATT INTERNATIONAL-LATIN AMERICA, LTD.	  	CAYMAN ISLANDS	  	HI Holdings (Switzerland) GmbH (100%)	  	
	HYATT INTERNATIONAL-SEA, (PTE) LIMITED	  	SINGAPORE	  	HI Holdings Cyprus Limited (100%)	  	
	HYATT LACSA SERVICES, INC.	  	DELAWARE	  	Hyatt International Corporation (100%)	  	
	HYATT LOUISIANA, L.L.C.	  	DELAWARE	  	Hyatt HOC, Inc. (100%)	  	
	HYATT MAINZ GMBH	  	GERMANY	  	Hyatt International Corporation (100%)	  	
	HYATT MINNEAPOLIS, LLC	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HYATT MINORITY INVESTMENTS, INC.	  	DELAWARE	  	Hyatt International Corporation (100%)	  	
	HYATT MSS, L.L.C.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HYATT NORTH AMERICA MANAGEMENT SERVICES, INC.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HYATT OF AUSTRALIA LIMITED	  	HONG KONG (PRC)	  	Hyatt Australia Hotel Management Pty. Limited (100%)	  	
	HYATT OF BAJA S. DE R.L. DE C.V.	  	MEXICO	  	Hyatt International - Latin America, Ltd. (99.9667%); Hyatt LACSA Services, Inc. (.0333%)	  	
	HYATT OF CHINA LIMITED	  	HONG KONG (PRC)	  	HI Holdings Cyprus Limited (100%)	  	X

							
	 Name
	  	 Jurisdiction of
 Incorporation or

Organization
	  	 Percentage of shares of each class of stock/equity

interest outstanding that is owned by Hyatt Hotels

Corporation or its subsidiaries
	  	 Material

Subsidiary

	HYATT OF FRANCE S.A.R.L.	  	FRANCE	  	HI Holdings Luxembourg S.A.R.L. (100%)	  	
	HYATT OF GUAM LIMITED	  	HONG KONG (PRC)	  	HI Holdings Cyprus Limited (100%)	  	
	HYATT OF ITALY S.R.L.	  	ITALY	  	HI Hotel Advisory Services GmbH (100%)	  	
	HYATT OF LATIN AMERICA, S.A. DE C.V.	  	MEXICO	  	Hyatt International - Latin America Ltd. (99.9999%); Hyatt LACSA Services, Inc. (0.0001%)	  	
	HYATT OF MACAU LIMITED	  	HONG KONG (PRC)	  	HI Holdings Cyprus Limited (100%)	  	
	HYATT OF MEXICO, S.A. DE C.V.	  	MEXICO	  	Hyatt LACSA Services, Inc. (49%); Hyatt International - Latin America, Ltd. (51%)	  	
	HYATT OF NEW ZEALAND LIMITED	  	HONG KONG (PRC)	  	HI Holdings Cyprus Limited (100%)	  	
	HYATT OF SINGAPORE (PTE.) LIMITED	  	SINGAPORE	  	HI Holdings Cyprus Limited (100%)	  	
	HYATT PARTNERSHIP INTERESTS, L.L.C.	  	DELAWARE	  	Hyatt Equities, L.L.C. (99%); CTR Interest Holdco, Inc. (1%)	  	X
	HYATT PLACE ANNE ARUNDEL BEVERAGE, INC.	  	MARYLAND	  	Select Hotels Group, L.L.C. (97%); Richard Morgan (1%); Michael Donohue (1%); Michael Koffler (1%) (individuals are Hyatt employees in accordance wih Maryland liquor license
requirements)	  	
	HYATT PLACE CANADA CORPORATION	  	DELAWARE	  	Select Hotels Group, L.L.C. (100%)	  	
	HYATT PLACE FRANCHISING, L.L.C.	  	DELAWARE	  	Select Hotels Group, L.L.C. (100%)	  	
	HYATT PLACE OF MARYLAND, INC.	  	MARYLAND	  	Select Hotels Group, L.L.C. (96%); BRE/AmeriSuites Properties, L.L.C. (1%); Terri Sterling (1%); Stacey McWilliams (1%) (individuals are hotel employees in accordance with Maryland
liquor license requirements)	  	
	HYATT REGENCY COLOGNE GMBH	  	GERMANY	  	Hyatt International Corporation (100%)	  	
	HYATT REGENCY CORPORATION PTY. LIMITED	  	AUSTRALIA	  	Hyatt International Corporation (100%)	  	
	HYATT RESIDENTIAL GROUP, INC.	  	DELAWARE	  	HTS-BC, Inc. (100%)	  	
	HYATT RESIDENTIAL MANAGEMENT CORPORATION	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HYATT RESIDENTIAL MARKETING CORPORATION	  	FLORIDA	  	Hyatt Residential Group, Inc. (100%)	  	
	HYATT RESIDENTIAL SUITES LTD.	  	JAPAN	  	Hyatt International (Fukuoka) Corporation (20%)	  	
	HYATT SERVICES AUSTRALIA PTY LIMITED	  	AUSTRALIA	  	Hyatt Australia Hotel Management Pty Limited (100%)	  	
	HYATT SERVICES CARIBBEAN, L.L.C.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HYATT SERVICES GMBH	  	GERMANY	  	HI Holdings Cyprus Limited (100%)	  	
	HYATT SERVICES INDIA PRIVATE LIMITED	  	INDIA	  	Hyatt International Holdings Co. (99%); Hyatt Minority Investments, Inc. (1%)	  	

							
	 Name
	  	 Jurisdiction of
 Incorporation or

Organization
	  	 Percentage of shares of each class of stock/equity

interest outstanding that is owned by Hyatt Hotels

Corporation or its subsidiaries
	  	 Material

Subsidiary

	HYATT SHARED SERVICE CENTER, L.L.C.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HYATT SUMMERFIELD SUITES CANADA, INC.	  	DELAWARE	  	Select Hotels Group, L.L.C. (100%)	  	
	HYATT TECHNICAL SERVICES COMPANY LIMITED	  	PRC	  	HI Holdings Cyprus Limited (100%)	  	
	HYATT TRINIDAD LIMITED	  	TRINIDAD AND TOBAGO	  	Hyatt Corporation (100%)	  	
	HYATT VENTURES, INC.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HYCANADA INC.	  	ALBERTA, CANADA,	  	Hyatt Hotels of Canada, Inc. (100%)	  	
	HYCARD, INC.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HYEX 57 HOTEL LLC	  	DELAWARE	  	HT-Park 57, Inc. (66.7%)	  	
	HYP CORPORATION	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	HYSTAR, L.L.C.	  	DELAWARE	  	Select Hotels Group, L.L.C. (100%)	  	
	INFORMATION SERVICES LIMITED	  	HONG KONG (PRC)	  	Hyatt International - Asia Pacific, Limited (100%)	  	
	INTERNATIONAL RESERVATIONS LIMITED	  	HONG KONG (PRC)	  	Hyatt International - Asia Pacific, Limited (100%)	  	
	JOINT VENTURE ITALKYR CLOSED JOINT STOCK COMPANY	  	KYRGYZ REPUBLIC	  	Hyatt International Corporation (88.5%)	  	
	JUNIPER HOTELS PRIVATE LIMITED	  	INDIA	  	Two Seas Holdings Limited (50%)	  	
	K.K. HIGASHIYAMA HOLDING	  	JAPAN	  	Hyatt International Holdings Co. (20%)	  	
	KEY WESTER LIMITED	  	FLORIDA	  	HTS-KW, Inc. (50% GP)	  	
	KSA MANAGEMENT, INC.	  	KANSAS	  	Select Hotels Group, L.L.C. (100%)	  	
	KYOTO HOLDING CO.	  	CAYMAN ISLANDS	  	HI Holdings Kyoto Co. (100%)	  	
	KYOTO HOTEL HOLDING SARL	  	SWITZERLAND	  	Hyatt International (Europe Africa Middle East) LLC (100%)	  	
	LHR-PARTNERS, LTD.	  	KENTUCKY	  	Hyatt Partnership Interests, L.L.C. (46.304% GP); Hyatt Equities, L.L.C. (53.696% LP)	  	
	LHW MONTELAGO INVESTORS, L.L.C .	  	DELAWARE	  	Hyatt Corporation (20%)	  	
	LORING PARK ASSOCIATES, LIMITED PARTNERSHIP	  	MINNESOTA	  	Hyatt Minneapolis, LLC (73.7% GP and 26.2% LP); Hyatt Corporation (0.1% LP)	  	
	LOST PINES BEVERAGE, LLC	  	TEXAS	  	Hyatt Corporation (100%)	  	
	MAHIMA HOLDINGS PRIVATE LIMITED	  	INDIA	  	50% interest held by Two Seas Holdings Limited in Juniper Hotels Private Limited, the sole shareholder of the entity	  	
	MARION RESERVATION CENTER, L.L.C	  	DELAWARE	  	Select Hotels Group L.L.C. (100%)	  	
	MAUI BOAT CO.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	MENDOZA INVESTMENT COMPANY LIMITED	  	CAYMAN ISLANDS	  	Hyatt International Corporation (100%)	  	

							
	 Name
	  	 Jurisdiction of
 Incorporation or

Organization
	  	 Percentage of shares of each class of stock/equity

interest outstanding that is owned by Hyatt Hotels

Corporation or its subsidiaries
	  	 Material

Subsidiary

	MILAN HOTEL INVESTMENTS B.V.	  	NETHERLANDS	  	Hyatt International (Milan) Co. (100%)	  	
	MORUMBY HOTEIS LTDA.	  	BRAZIL	  		  	
	NEPA S.R.L.	  	ITALY	  	Milan Hotel Investments B.V. (30%)	  	
	NEW HILP GP, LLC	  	DELAWARE	  	29.959% held by Grand Hyatt San Antonio, L.L.C. in Hotel Investments Holding Co LLC, the 100% member of the entity	  	
	NHJV HOLDING COMPANY, LLC	  	DELAWARE	  	23.1547% LP interest held by HTS - NS, L.L.C. in East West Resort Development XII, L.P., L.L.L.P., the 100% member of the entity	  	
	NHJV-TAHOE-PHASE I, G.P. (GENERAL PARTNERSHIP)	  	DELAWARE	  	HTS - NS, L.L.C. (1% GP interest); 23.1547% LP interest held by HTS - NS, L.L.C. in East West Resort Development XII, L.P., L.L.L.P., the 100% member of NHJV Holding Company, LLC,
the holder of 99% GP interest in the partnership	  	
	NINGBO MUNICIPAL QIANHU INTERNATIONAL CONFERENCE CENTER DEVELOPMENT CO., LTD.	  	PRC	  	Hyatt International Corporation (10%)	  	
	NUEVO PLAZA HOTEL LIMITED S.A.	  	ARGENTINA	  	50% interest held by Mendoza Investment Company Limited in Nuevo Plaza Hotel Mendoza Limited, the 100% shareholder of the entity	  	
	NUEVO PLAZA HOTEL MENDOZA LIMITED	  	PANAMA	  	Mendoza Investment Company Limited (50%)	  	
	OHIO CENTER HOTEL COMPANY, LTD.	  	OHIO	  	Hyatt Partnership Interests, L.L.C. (23.569% LP)	  	
	OX PROP LLC	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	P.T. WYNNCOR BALI	  	INDONESIA	  	Hyatt International Corporation (10%)	  	
	PARIS HOTEL COMPANY B.V.	  	NETHERLANDS	  	PVD Investment Company N.V. (100%)	  	
	PARK HYATT HAMBURG GMBH	  	GERMANY	  	Hyatt International Corporation (50%)	  	
	PARK HYATT HOTEL GMBH	  	SWITZERLAND	  	Hyatt International (Europe Africa Middle East) LLC (100%)	  	X
	PARK HYATT WATER TOWER ASSOCIATES, L.L.C.	  	ILLINOIS	  	Hyatt Equities, L.L.C. (managing member) and HT-Hotel Equities, Inc. (Preferred Membership Interest)	  	
	PCH BEACH RESORT, LLC	  	CALIFORNIA	  	Coast Beach, L.L.C. (39.9996%)	  	
	PELICAN LANDING GOLF RESORT VENTURES LIMITED PARTNERSHIP	  	DELAWARE	  	Hyatt Equities, L.L.C. (49% LP)	  	
	PELICAN LANDING TIMESHARE VENTURES LIMITED PARTNERSHIP	  	DELAWARE	  	HTS-Coconut Point, Inc. (49% GP)	  	
	POLK SMITH REGENCY, LLC	  	TEXAS	  	Hyatt Corporation (100%)	  	

							
	 Name
	  	 Jurisdiction of
 Incorporation or

Organization
	  	 Percentage of shares of each class of stock/equity

interest outstanding that is owned by Hyatt Hotels

Corporation or its subsidiaries
	  	 Material

Subsidiary

	POYDRAS PROPERTIES HOTEL HOLDINGS CO. LLC	  	DELAWARE	  	HT-New Orleans Hotel, L.L.C. (100% Class B Member) (15% Residual Interest*)	  	
	PT HYATT INDONESIA	  	INDONESIA	  	Hyatt International Corporation (99%); Hyatt International Technical Services, Inc., nominee for HIC (1%)	  	
	PVD INVESTMENT COMPANY N.V.	  	CURACAO	  	Hotel Investors I, Inc. Luxembourg, Schaffhausen Branch (100%)	  	
	RCG PROPERTIES, LLC	  	GEORGIA	  	Hyatt Equities, L.L.C. (100%)	  	
	REGENCY BEVERAGE COMPANY, LLC	  	TEXAS	  	Hyatt Corporation (100%)	  	
	REGENCY RIVERWALK BEVERAGE, LLC	  	TEXAS	  	Hyatt Corporation (100%)	  	
	RESERVATIONS CENTER, L.L.C.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	RIO JV PARTNERS PARTICIPACOES LTDA.	  	BRAZIL	  	HI Holdings Rio S.a.r.l. (99.9999%); Myles McGourty (a Hyatt employee 0.0001%)	  	
	ROSEMONT PROJECT MANAGEMENT, L.L.C.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	ROUTE 46 MANAGEMENT ASSOCIATES CORP.	  	DELAWARE	  	Select Hotels Group, L.L.C. (100%)	  	
	ROUTE 46 RESTAURANT CORPORATION	  	DELAWARE	  	Route 46 Management Associates Corp. (100%)	  	
	ROYAL PALM RESORT, L.L.C.	  	DELAWARE	  	Hyatt Equities, L.L.C. (100%)	  	
	RUNWAY HOLDING, L.L.C.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	RUNWAY, L.L.C.	  	TEXAS	  	Runway Holding, L.L.C. (100%)	  	
	SAO PAULO INVESTMENT COMPANY INC.	  	PANAMA	  	Sao Paulo Investors Limited (50%)	  	
	SAO PAULO INVESTORS LIMITED	  	BAHAMAS	  	Hotel Investors II, Inc. (100%)	  	
	SASIH	  	FRANCE	  	Paris Hotel Company B.V. (100%)	  	X
	SDI EQUITIES INVESTOR, INC.	  	NEVADA	  	SDI, Inc. (100%)	  	
	SDI EQUITIES INVESTOR, L.P.	  	NEVADA	  	SDI Equities Investor, Inc. (0.1% GP); SDI, Inc. (99.9% LP)	  	
	SDI SECURITIES 11, LLC	  	NEVADA	  	SDI Equities Investor, L.P. (100%)	  	
	SDI SECURITIES 6, LLC	  	NEVADA	  	SDI, Inc. (100%)	  	
	SDI, INC.	  	NEVADA	  	Hyatt Corporation (100%)	  	
	SELECT HOTELS GROUP, L.L.C.	  	DELAWARE	  	Hyatt Corporation (100%)	  	X
	SELECT JV HOLDINGS, L.L.C.	  	DELAWARE	  	Select Hotels Group, L.L.C. (100%)	  	
	SEOUL MIRAMAR CORPORATION	  	KOREA	  	SMC Hotels B.V. (50%); Asia Hospitality Investors B.V. (50%)	  	X
	SETTLEMENT INVESTORS INC.	  	BAHAMAS	  	Hotel Investors I, Inc. Luxembourg, Schaffhausen Branch (100%)	  	
	SFMB, INC.	  	DELAWARE	  	Summerfield Hotel Company, L.L.C. (100%)	  	

							
	 Name
	  	 Jurisdiction of
 Incorporation or

Organization
	  	 Percentage of shares of each class of stock/equity

interest outstanding that is owned by Hyatt Hotels

Corporation or its subsidiaries
	  	 Material

Subsidiary

	SHCP HOTEL, LLC	  	DELAWARE	  	BRE/AmeriSuites Properties L.L.C. (50%)	  	
	SHCP OPERATING ENTITY, LLC	  	DELAWARE	  	BRE/AmeriSuites Properties L.L.C. (50%)	  	
	SKS CORP N.V.	  	CURACAO	  	Hotel Investors II, Inc. (100%)	  	
	SMC HOTELS B.V.	  	NETHERLANDS	  	SKS Corp N.V. (100%)	  	
	SOUTH AMERICAN HOSPITALITY FUNDING LIMITED	  	BAHAMAS	  	Sao Paulo Investors Limited (50%)	  	
	SRP INVESTORS, L.P.	  	DELAWARE	  	SDI Securities 11, LLC	  	
	STANHOPE, L.L.C.	  	DELAWARE	  	Hyatt Equities, L.L.C. (100%)	  	
	STARHILL LORING PARK, L.L.C.	  	DELAWARE	  	Loring Park Associates, Limited Partnership (50%*)	  	
	SUGAR LAND/HP, LLC	  	DELAWARE	  	BRE/AmeriSuites TXNC Properties L.P. (50%)	  	
	SUMMERFIELD HOTEL COMPANY, L.L.C.	  	KANSAS	  	Summerfield Hotel Holding Company, L.L.C. (100%)	  	
	SUMMERFIELD HOTEL HOLDING COMPANY, L.L.C.	  	DELAWARE	  	Select Hotels Group, L.L.C. (100%)	  	
	SUNSET HARBOR DEVELOPMENT PARTNERSHIP (GENERAL PARTNERSHIP)	  	FLORIDA	  	HTS-Key West, Inc. (50% GP)	  	
	THE GREAT EASTERN HOTEL COMPANY LIMITED	  	ENGLAND AND WALES	  	The Great Eastern Hotel Holding Company Limited (100%)	  	X
	THE GREAT EASTERN HOTEL HOLDING COMPANY LIMITED	  	ENGLAND AND WALES	  	Zurich Hotel Investments B.V. (100%)	  	
	TOP OF MILL INVESTORS, LLC	  	DELAWARE	  	HTS-Aspen, LLC (26%)	  	
	TWO SEAS HOLDINGS LIMITED	  	MAURITIUS	  	HI Holdings Cyprus Limited (100%)	  	
	VACATION OWNERSHIP LENDING GP, INC.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	VACATION OWNERSHIP LENDING, L.P.	  	DELAWARE	  	Vacation Ownership Lending GP, Inc. (1% GP); VOL Investors, L.P. (99% LP)	  	
	VOL GP, INC.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	VOL INVESTORS, L.P.	  	DELAWARE	  	VOL GP, Inc. (1% GP); HTS-Loan Servicing, Inc. (99% LP)	  	
	W2007 WKH HOLDINGS, LLC	  	DELAWARE	  	Hyatt Corporation (9.99%)	  	
	W2007 WKH HOTEL TRS, LLC	  	DELAWARE	  	Hyatt Corporation (500 preferred interests) (Preferred Member)	  	
	WAILEA HOTEL & BEACH RESORT, L.L.C.	  	DELAWARE	  	3.85% interest held by Hyatt Corporation in Wailea Hotel Holdings, L.L.C., the sole member of the entity	  	
	WAILEA HOTEL HOLDINGS, L.L.C.	  	DELAWARE	  	Hyatt Corporation (3.85% Membership Percentage*) (50% Residual Percentage)	  	

							
	 Name
	  	 Jurisdiction of
 Incorporation or

Organization
	  	 Percentage of shares of each class of stock/equity

interest outstanding that is owned by Hyatt Hotels

Corporation or its subsidiaries
	  	 Material

Subsidiary

	WATER HOUSE ON MAIN STREET, LLC	  	DELAWARE	  	HTS-Main Street Station, Inc. (1%)	  	
	WEST END RESIDENCES, L.L.C.	  	DELAWARE	  	Hyatt Equities, L.L.C. (100%)	  	
	WINDWARD POINTE II, L.L.C.	  	DELAWARE	  	50% GP interest held by HTS-KW, Inc.in Key Wester Limited, the sole member of the entity	  	
	WOODFIELD FINANCIAL CONSORTIUM, L.L.C.	  	DELAWARE	  	Hyatt Corporation (100%)	  	
	ZURICH ESCHERWIESE HOTEL GMBH	  	SWITZERLAND	  	HI Holdings Zurich S.a.r.l. (100%)	  	X
	ZURICH HOTEL INVESTMENTS B.V.	  	NETHERLANDS	  	Hyatt International Holdings Co. (100%)	  	

 Schedule 3.19 
 Insurance 
 

 
 Global Insurance Programs 2010-2011 
 Effective Dates: November 1, 2010 – October 31, 2011. Insurance coverage is subject to participation in various Hyatt Programs and policy terms and conditions and this summary does not
modify the same. 
 Liability Insurance – Primary and Excess Liability Insurance with global coverage for any judgment,
settlement or defense costs arising from claims, including terrorism, resulting from operations, goods and services, premises and automobiles. 
  

					
	Insurer:	  	Primary USA and Canada:	  	National Union and AIG of Canada
		  	Primary International:	  	Insurance Company of the State of Pennsylvania (auto is DIC only-auto coverage must be placed local)
		  	Excess-Umbrella:	  	Illinois National, Allied World Swiss Re, Ace, Lexington, Catlin, Argo, XL Bermuda and Arch

					
		
	Deductible:	  	$500,000 per occurrence
	Policy Limit:	  	Primary:	  	US$2 million
		  	Excess-Umbrella:	  	US$425 million

 Property Insurance – All Risk Property Insurance with global coverage for any loss resulting from a
covered risk including fire, terrorism, flood, earthquake, windstorm and other natural disasters. Covered property includes buildings, equipment, inventory, fixtures, personal property, boiler and machinery and business interruption resulting from a
covered peril. Additions to the program and new Hotels must confirm with Risk Management deductibles, limits, sublimits and coverages including but not limited to flood, earthquake, windstorm and terrorism. 

 

					
	Insurer:	  	Lead:	  	Factory Mutual (FM); Lexington Insurance Company (International)
		  	Excess:	  	FM, Lexington/Chartis, Lloyd’s London, Lancashire, Swiss Re, Torus, Partner Re, Ace, Scor Re, Axis, Liberty Mutual, Arch, Hyundai Marine, Fuji Japan, Maiden Re, Max Bermuda, XL
and Hannover Re
	Deductible:	  	Flood:	  	US$500,000 building and contents, and, US$250,000 BI, Zone A and V; and, US$250,000 all other
		  	Earthquake:	  	5% TIV Argentina, CA, Marion IL, Memphis TN; 3% TIV Vancouver and Seattle; 1% TIV Aruba, Azerbaijan, Puerto Rico; and, all subject to US$250,000 minimum; US$25,000 all
other

					
		  	Windstorm:	  	5% TIV Aruba, Savannah, Puerto Rico, FL (3% TIV Orlando and Lakeland); 2% TIV Korea; and, all subject to US$250,000 minimum; US$250,000 CT, Chesapeake, MA, NJ, NY; US$25,000 all
other
		  	Terrorism:	  	US$250,000 USA; US$100,000 and 7 days International
		  	All Other:	  	US$250,000 subject to $1 million aggregate deductible limit and then $25,000 maintenance deductible for each claim
thereafter

					
		
	Policy Limit:	  	Full Replacement cost subject to US$1 billion limit per occurrence
	Sublimit:	  	Flood:	  	US$250 million per occurrence and in the aggregate
		  	Earthquake:	  	US$150 million CA; US$250 million all other per occurrence and in the aggregate
		  	Terrorism	  	US$1 billion USA; US$250 million International; and, subject to declared values and Pool Re (U.K.), GAREAT (France) and TRIA (USA)

 

 
 Global Insurance Programs 2010-2011 
 Effective Dates: November 1, 2010 – October 31, 2011. Insurance coverage is subject to participation in various Hyatt Programs and policy terms and conditions and this summary does not
modify the same. 
 Crime Insurance – Crime Insurance covering global loss of money and securities due to crime, theft or
conversion from the hotel premises by employees or others and loss of monies while in transit. 
  

					
	Insurer:	  	Primary:	  	Zurich American Insurance Company
		  	Excess:	  	Great American Insurance Company
	Deductible:	  	US$250,000 per occurrence
	Policy Limit:	  	US$25 million

 Employment Practices Liability Insurance – Liability Insurance for claims arising out of alleged
harassment, discrimination and wrongful discharge. 
  

			
	Insurer:	  	Lexington Insurance Company
	Deductible:	  	$500,000 self-insured retention
	Policy Limit:	  	US$25 million

 Schedule 3.22 
 Labor Matters 
 No material update beyond what was in the general risk factors disclosure
in our most recent 10Q. 

 Schedule 4.1(d) 

[FORM OF] 

SECRETARY’S CERTIFICATE 
 [CREDIT PARTY] 
 Pursuant to Section 4.1(d) of the Amended and
Restated Credit Agreement, dated as of September 9, 2011 (as amended, restated or otherwise modified, the “Credit Agreement”; capitalized terms used herein and not defined shall have the meanings provided in the Credit Agreement),
by and among HYATT HOTELS CORPORATION, a Delaware corporation (the “Borrower”), certain Subsidiaries of the Borrower from time to time party thereto, as Guarantors, the Lenders from time to time party thereto and Wells Fargo Bank,
National Association, as Administrative Agent, the undersigned [Secretary] of [CREDIT PARTY], in [his]/[her] capacity as the [Secretary] of [CREDIT PARTY], and not in any individual capacity, hereby certifies as follows: 

1. Attached hereto as Exhibit A is a true and complete copy of the [articles of incorporation] [certificate of formation]
[certificate of limited partnership] of [CREDIT PARTY] and all amendments thereto as in effect on the date hereof. 
 2.
Attached hereto as Exhibit B is a true and complete copy of the [bylaws] [operating agreement] [partnership agreement] of [CREDIT PARTY] and all amendments thereto as in effect on the date hereof. 

3. Attached hereto as Exhibit C is a true and complete copy of resolutions duly adopted by the board of directors of [CREDIT
PARTY] on the date indicated therein. Such resolutions have riot in any way been rescinded or modified and have been in full force and effect since their adoption to and including the date hereof and are now in full force and effect, and such
resolutions are the only corporate proceedings of [CREDIT PARTY] now in force relating to or affecting the matters referred to therein. 
 4. The following persons are now the duly elected and qualified officers of [CREDIT PARTY], holding the offices indicated next to the names below on the date hereof, and the signatures appearing opposite
the names below arc their true and genuine signatures, and each of such officer’s is duly authorized to execute and deliver on behalf of [CREDIT PARTY] the Credit Agreement, the Notes and the other Credit Documents to be issued pursuant
thereto: 
  

					
	 Name
	 	 Office
	 	 Signature

 IN WITNESS WHEREOF, I hereunder subscribe my name as of the
            day of             , 2011. 

 

			
	  

	Name:	 	  

	Title:	 	  

 I,
                     the                      of
[CREDIT PARTY], hereby certify that                      is the duly elected and qualified
                 of [CREDIT PARTY] and that his/her true signature is set forth above. 

 

			
	  

	Name:	 	  

	Title:	 	  

 Schedule 5.2(a) 

[FORM OF] 

OFFICER’S COMPLIANCE CERTIFICATE 
 For the fiscal period ended             , 20    . 
 I,                     ,
                     of HYATT HOTELS CORPORATION, a Delaware corporation (the “Borrower”), hereby certify on behalf of the Credit
Parties and not in any individual capacity that, with respect to that certain Amended and Restated Credit Agreement, dated as of September 9, 2011 (as amended, restated or otherwise modified, the “Credit Agreement”; capitalized
terms used herein and not defined shall have the meanings provided in the Credit Agreement), by and among the Borrower, certain Subsidiaries of the Borrower from time to time party thereto (the “Guarantors”), the lenders from time
to lime party thereto (the “Lenders”) and Wells Fargo Bank, National Association, as Administrative Agent for the Lenders (the “Administrative Agent”): 

(a) to the best of my knowledge and belief, the financial statements provided by the Borrower to the Administrative Agent
and the Lenders fairly present in all material respects the financial condition of the parties covered by such financial statements; 
 (b) I have obtained no knowledge of any Default or Event of Default under the Credit Agreement;* and 
 (c) attached hereto on Annex A are calculations in reasonable detail demonstrating compliance by the Credit Parties with the financial covenants contained in Section 5.9 of the Credit
Agreement as of the last day of the fiscal period referred to above. 
 IN WITNESS WHEREOF, the undersigned has executed this
officer’s compliance certificate this day of                     , 20    . 

 

			
	 HYATT HOTELS CORPORATION,
 a Delaware corporation

		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

	* 	 If a Default or Event of Default shall have occurred, an explanation of such Default or Event of Default shall be provided on a separate page attached
hereto together with an explanation of the action taken or proposed to be taken by the Borrower with respect thereto. 

 Annex A 
 to Officer’s Compliance Certificate 
 Financial Covenant Calculations

 [to be completed by the Borrower] 

 Schedule 5.8 
 [FORM OF] 
 JOINDER AGREEMENT 

THIS JOINDER AGREEMENT (the “Agreement”), dated as of ,
                    , 20    , is by and between
                    , a                      (the
“Subsidiary Guarantor”), the Borrower (as defined below) and WELLS FARGO BANK, NATIONAL ASSOCIATION, in its capacity as Administrative Agent under that certain Amended and Restated Credit Agreement, dated as of September 9, 2011 (as
amended, restated or otherwise modified, the “Credit Agreement”), by and among HYATT HOTELS CORPORATION, a Delaware corporation (the “Borrower”), certain Subsidiaries of the Borrower from time to time party thereto
(the “Guarantors”), the lenders from time to time party thereto (the “Lenders”) and Wells Fargo Bank, National Association, as Administrative Agent for the Lenders (the “Administrative Agent”).
Capitalized terms used herein but not otherwise defined shall have the meanings provided in the Credit Agreement. 
 The Credit
Parties are required by Section 5.8 of the Credit Agreement to cause the Subsidiary Guarantor to become a “Guarantor” thereunder. 
 Accordingly, the Subsidiary Guarantor hereby agrees as follows with the Administrative Agent, for the benefit of the Lenders: 
 1. The Subsidiary Guarantor hereby acknowledges, agrees and confirms that, by its execution of this Agreement, the Subsidiary Guarantor will be deemed to be a party to the Credit Agreement and a
“Guarantor” for all purposes of the Credit Agreement and the other Credit Documents, and shall have all of the obligations of a Guarantor thereunder as if it had executed the Credit Agreement and the other Credit Documents. The Subsidiary
Guarantor hereby ratifies, as of the date hereof, and agrees to be bound by, all of the terms, provisions and conditions contained in the Credit Documents, including without limitation (a) all of the representations and warranties of the Credit
Parties set forth in Section 5 of the Credit Agreement and (b) all of the affirmative and negative covenants set forth in Sections 6 and 7 of the Credit Agreement. Without limiting the generality of the foregoing terms of this paragraph 1,
the Subsidiary Guarantor hereby jointly and severally together with the other Guarantors, guarantees to each Lender, the Administrative Agent, the Swingline Lender and the Issuing Lender as provided in the Credit Agreement the prompt payment and
performance of the Credit Party Obligations in full when due (whether at stated maturity, as a mandatory prepayment, by acceleration or otherwise) strictly in accordance with the terms thereof and agrees that if any of such Credit Party Obligations
are not paid or performed in full when due (whether at stated maturity, as a mandatory prepayment, by acceleration or otherwise), the Subsidiary Guarantor will, jointly and severally together with the other Guarantors, promptly pay and perform the
same, without any demand or notice whatsoever, and that in the case of any extension of time of payment or renewal of any of the Credit Party Obligations, the same will be promptly paid in full when due (whether at extended maturity, as a mandatory
prepayment, by acceleration or otherwise) in accordance with the terms of such extension or renewal. 

 2. The Subsidiary Guarantor acknowledges and confirms that it has received a copy of the
Credit Agreement and the schedules and exhibits thereto. The information on the schedules to the Credit Agreement is hereby amended to provide the information shown on the attached Schedule A. 

3. The Borrower confirms that all of its obligations under the Credit Agreement are, and upon the Subsidiary Guarantor becoming a
Guarantor, shall continue to be, in full force and effect. The parties hereto confirm and agree that immediately upon the Subsidiary Guarantor becoming a Guarantor, the term “Credit Party Obligations,” as used in the Credit Agreement,
shall include all obligations of such Subsidiary Guarantor under the Credit Agreement and under each other Credit Document. 

4. The Subsidiary Guarantor hereby agrees that upon becoming a Guarantor it will assume all Credit Party Obligations of a Guarantor as
set forth in the Credit Agreement. 
 5. Each of the Borrower and the Subsidiary Guarantor agrees that at any time and from time
to time, upon the written request of the Administrative Agent, it will execute and deliver such further documents and do such further acts and things as the Administrative Agent may reasonably request in order to effect the purposes of this
Agreement. 
 6. This Agreement may be executed in two or more counterparts, each of which shall constitute an original but all
of which when taken together shall constitute one contract. 
 7. This Agreement shall be governed by and construed and
interpreted m accordance with the laws of the State of Illinois. 
 [Signature on Following Page] 

 IN WITNESS WHEREOF, each of the Borrower and the Subsidiary Guarantor has caused this
Joinder Agreement to be duly executed by its authorized officer, and the Administrative Agent, for the benefit of the Lenders, has caused the same to be accepted by its authorized officer, as of the day and year first above written. 

 

					
	SUBSIDIARY GUARANTOR:	 	[SUBSIDIARY GUARANTOR]
			
		 	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

		
	BORROWER:	 	 HYATT HOTELS CORPORATION,
 a Delaware corporation

			
		 	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

  

			
	Acknowledged and accepted:
	
	 WELLS FARGO BANK, NATIONAL ASSOCIATION,
 as Administrative Agent

		
	By:	 	  

	Name:	 	  

	Title:	 	  

 SCHEDULE A 
 to 
 Joinder Agreement 

SCHEDULES TO CREDIT AGREEMENT 

 Schedule 6.1 
 Liens 
 Schedule 6.2 LIENS 
 As of 8/31/2011 
  

			
	 Description of Lien
	  	 Lien Holder(s)

		
	 SELECT HOTELS GROUP, L.L.C. (Hyatt Place Atlanta / Buckhead Property)
Capital lease on land and improvements
	  	J.H. Holdings, LTD.
		
	 JOINT VENTURE ITALKYR CLOSED JOINT STOCK COMPANY (Hyatt Regency Bishkek)
First mortgage lien on hotel property - first
mortgage
	  	The Ministry of State Property of the Kyrgyz Republic; Mr. Blotbek Argynov
		
	 H.E. SAN ANTONIO, L.L.C. (Hyatt Regency San Antonio)
First mortgage lien on hotel property - first mortgage
	  	Asset Securitization Corporation Commercial Mortgage Pass-Through Certificates Series 1996-D3
		
	 H.E. SAN ANTONIO, L.L.C. (Hyatt Regency San Antonio)
Refrigerator lease
	  	California First Leasing Corporation
		
	 H.E. GRAND CYPRESS, L.L.C. (Hyatt Regency Grand Cypress)
Capital lease on land and improvements
	  	Grand Cypress Hotel, LP
		
	 H.E. NEWPORT, L.L.C. and HTS - NS, L.L.C. (Andaz Fifth Avenue)
Mechanics lien claim, with a foreclosure lawsuit filed, for
approximately $1mm
	  	Primiano Electric Company

  
  

 Schedule 10.2 
 Administrative Agent’s Addresses: 
 Wells Fargo Bank, National
Association, as Administrative Agent 
 1750 H. Street, NW, Suite 550 

Washington, D.C. 20006 
 Attn: Mark Monohan 
 Telephone: 202-303-3017 

Telecopy: 202-429-2984 
 With a copy to: 
 Wells Fargo Bank, National Association

 2030 Main Street, Suite 500 

Irvine, California 92614 
 Attn: Liz Donchey 
 Telephone: 949-251-4337 

Telecopy: 949-251-4983 
 And in the case of notices under Section 2: 
 Wells Fargo
Bank, National Association, as Administrative Agent 
 Minneapolis Loan Center 

733 Marquette Avenue 

10th Floor, MAC: N9306-102 
 Minneapolis, Minnesota 55402 
 Attn: Joann M. Adams 

Telephone: 612-667-4509 
 Telecopy: 866-595-7864 
 With respect to Foreign Currency Loans:

 Wells Fargo Bank, National Association 

Minneapolis Loan Center 
 733 Marquette Avenue 
 10th Floor, MAC: N9306-102 

Minneapolis, Minnesota 55402 
 Attn: Joann M. Adams 
 Telephone: 612-667-4509 

Telecopy: 866-595-7864 

 Schedule 10.6 
 [FORM OF] 
 ASSIGNMENT AND ASSUMPTION AGREEMENT 

This Assignment and Assumption Agreement (the “Assignment and Assumption”) is dated as of the Effective
Date set forth below and is entered into by and between [the][each]* Assignor identified in item 1 below ([the][each, an] “Assignor”) and [the][each]† Assignee identified in item 2 below ([the][each, an] “Assignee”). [It is understood and agreed that the
rights and obligations of [the Assignors][the Assignees]‡ hereunder are several and not joint.]§ Capitalized terms used but not defined herein shall have the meanings given to them in the Amended and Restated Credit Agreement identified below (as amended, the “Credit Agreement”), receipt
of a copy of which is hereby acknowledged by [the][each] Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a part of this Assignment and
Assumption as if set forth herein in full. 
 For an agreed consideration, [the][each] Assignor hereby irrevocably sells and
assigns to [the Assignee][the respective Assignees], and [the][each] Assignee hereby irrevocably purchases and assumes from [the Assignor][the respective Assignors], subject to and in accordance with the Standard Terms and Conditions and the Credit
Agreement, as of the Effective Date inserted by the Administrative Agent as contemplated below (i) all of [the Assignor’s][the respective Assignors’] rights and obligations in [its capacity as a Lender][their respective capacities as
Lenders] under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount and percentage interest identified below of all of such outstanding rights and obligations of [the
Assignor][the respective Assignors] under the respective facilities identified below (including without limitation any guarantees included in such facilities) and (ii) to the extent permitted to be assigned under applicable law, all claims,
suits, causes of action and any other right of [the Assignor (in its capacity as a Lender)][the respective Assignors (in their respective capacities as Lenders)] against any Person, whether known or unknown, arising under or in connection with the
Credit Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions governed thereby or in any way based on or related to any of the foregoing, including, but not limited to, contract claims, tort claims,
malpractice claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold and assigned pursuant to clause (i) above (the rights and obligations sold and assigned by [the][any] Assignor to
[the][any] Assignee pursuant to clauses (i) and (ii) above being referred to herein collectively as [the][an] “Assigned Interest”). Each 

 

	*	For bracketed language here and elsewhere in this form relating to the Assignor(s), if the assignment is from a single Assignor, choose the first bracketed language. If
the assignment is from multiple Assignors, choose the second bracketed language. 

	† 	For bracketed language here and elsewhere in this form relating to the Assignee(s), if the assignment is to a single Assignee, choose the first bracketed language. If
the assignment is to multiple Assignees, choose the second bracketed language. 

	‡ 	Select as appropriate. 

	§ 	Include bracketed language if there are either multiple Assignors or multiple Assignees. 

 
such sale and assignment is without recourse to [the][any] Assignor and, except as expressly provided in this Assignment and Assumption, without representation or warranty by [the][any] Assignor.

  

							
	1.	  	Assignor[s]:	  	  
	  	
		  		  	  
	  	
				
	2.	  	Assignee[s]:	  	  
	  	
		  		  	  
	  	
		  		  	[for each Assignee, indicate [Affiliate][Approved Fund] of [identify Lender]
			
	3.	  	Borrower(s):	  	HYATT HOTELS CORPORATION
			
	4.	  	Administrative Agent:	  	Wells Fargo Bank, National Association, as the administrative agent under the Credit Agreement
			
	5.	  	Credit Agreement:	  	The $1,500,000,000.00 Credit Agreement dated as of September     , 2011 among Hyatt Hotels Corporation, the Lenders parties thereto, Wells Fargo
Bank, National Association, as Administrative Agent, and the other parties thereto.
				
	6.	  	Assigned Interest[s]:	  		  	

  

																			
	 Assignor[s]**
	  	Assignee[s]††	  	Facility
Assigned‡‡	  	Aggregate
Amount of
Commitment/
Loans
for all
Lenders§§	 	  	Amount of
Commitment/
Loans
Assigned	 	  	Percentage
Assigned
of
Commitment/
Loans***	 	  	CUSIP
Number
		  		  		  	$	 	  	  	$	 	  	  	 	%	  	  	
		  		  		  	$	 	  	  	$	 	  	  	 	%	  	  	

  

							
				
	[7.	  	Trade Date:	  	  
	 	]†††

 [Signature Pages Follow] 

 

	** 
	 List each Assignor, as appropriate. 

	†† 
	 List each Assignee, as appropriate. 

	‡‡ 
	 Fill in the appropriate terminology for the types of facilities under the Credit Agreement that are being assigned under this Assignment (e.g.
“Commitment”, “Revolving Loan”, etc.) 

	§§ 
	 Amount to be adjusted by the counterparties to take into account any payments or prepayments made between the Trade Date and the Effective Date.

	*** 
	 Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans of all Lenders thereunder. 

	††† 
	 To be completed if the Assignor(s) and the Assignee(s) intend that the minimum assignment amount is to be determined as of the Trade Date.

 Effective Date:
                         , 20     [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE
DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.] 
 The terms set forth in this Assignment and Assumption are hereby agreed to:

  

					
	ASSIGNOR[S]‡‡‡

	
	[NAME OF ASSIGNOR]
		
	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

	
	[NAME OF ASSIGNOR]
		
	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

	
	ASSIGNEE[S]§§§

	
	[NAME OF ASSIGNEE]
		
	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

	
	[NAME OF ASSIGNEE]
		
	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

 [Page Break] 

 

	‡‡‡ 
	 Add additional signature blocks as needed. 

	§§§ 
	 Add additional signature blocks as needed. 

 [Consented to and]**** Accepted: 
 WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent 
  

					
	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

	
	[Consented
to:]††††
	
	HYATT HOTELS CORPORATION
		
	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

  

	**** 
	 To be added only if the consent of the Administrative Agent is required by the terms of the Credit Agreement. 

	†††† 
	 Include signature of the Borrower only if required under Section 10.6. of the Credit Agreement. 

 ANNEX 1 

[                   
 ]‡‡‡‡ 

STANDARD TERMS AND CONDITIONS FOR 
 ASSIGNMENT AND ASSUMPTION 
 1. Representations and Warranties. 

1.1 Assignor[s]. [The][Each] Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of
[the][the relevant] Assigned Interest, (ii) [the][such] Assigned Interest is free and clear of any lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken all action necessary, to execute and
deliver this Assignment and Assumption and to consummate the transactions contemplated hereby; and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection with the Credit
Agreement or any other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any collateral thereunder, (iii) the financial condition of the Borrower, any of its
Subsidiaries or Affiliates or any other Person obligated in respect of any Loan Document or (iv) the performance or observance by the Borrower, any of its Subsidiaries or Affiliates or any other Person of any of their respective obligations
under any Loan Document. 
 1.2. Assignee[s]. [The][Each] Assignee (a) represents and warrants that (i) it has
full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (ii) it meets all the
requirements to be an Eligible Assignee as defined in the Credit Agreement (subject to such consents, if any, as may be required under such definition), (iii) from and after the Effective Date specified for this Assignment and Assumption, it
shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of [the][the relevant] Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it is sophisticated with respect to decisions
to acquire assets of the type represented by the Assigned Interest and either it, or the person exercising discretion in making its decision to acquire the Assigned Interest, is experienced in acquiring assets of such type, (v) it has received
a copy of the Credit Agreement, and has received or has been accorded the opportunity to receive copies of the financial statements referenced in Section 6.1.(k) thereof or of the most recent financial statements delivered pursuant to
Section 8.1 or 8.2. thereof, as applicable, and such other documents and information as it deems appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and to purchase [the][such] Assigned
Interest, (vi) it has, independently and without reliance upon the Administrative Agent, the Assignor or any other Lender and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to
enter into this Assignment and Assumption and to purchase [the][such] Assigned Interest, and (vii) if it is a Foreign Lender, attached to the Assignment and Assumption is any documentation required to be delivered by it pursuant to the terms of
the Credit Agreement, duly completed and executed by 

  
  

	‡‡‡‡
	 Describe Credit
Agreement at option of Administrative Agent. 

 
[the][such] Assignee; and (b) agrees that (i) it will, independently and without reliance on the Administrative Agent, [the][any] Assignor or any other Lender, and based on such
documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents, and (ii) it will perform in accordance with their terms all of the
obligations which by the terms of the Loan Documents are required to be performed by it as a Lender. 
 2. Payments. From
and after the Effective Date, the Administrative Agent shall make all payments in respect of [the][each] Assigned Interest (including payments of principal, interest, fees and other amounts) to [the][the relevant] Assignee whether such amounts have
accrued prior to, on or after the Effective Date specified for this Assignment and Assumption. The Assignor[s] and the Assignee[s] shall make all appropriate adjustments in payments by the Administrative Agent for periods prior to such Effective
Date or with respect to the making of this assignment directly between themselves. 
 3. General Provisions. This
Assignment and Assumption shall be binding upon, and inure to the benefit of, the parties hereto and their respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which together shall
constitute one instrument. Delivery of an executed counterpart of a signature page of this Assignment and Assumption by telecopy shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption. This Assignment and
Assumption shall be governed by, and construed in accordance with, the law of the State of New York.Office Lease

 Exhibit 10.19 
 OFFICE LEASE 
 SUNNYVALE BUSINESS CENTER 

Between 
 CA-SUNNYVALE BUSINESS CENTER LIMITED PARTNERSHIP, 
 a Delaware limited partnership 
 as Landlord, 

and 

TELENAV, INC., 
 a Delaware corporation 
 as Tenant 

 TABLE OF CONTENTS 

 

					
		  	 	Page	  
		
	 ARTICLE 1 PREMISES AND EXTERIOR AREAS
	  	 	3	  
		
	 ARTICLE 2 LEASE TERM
	  	 	4	  
		
	 ARTICLE 3 RENT
	  	 	6	  
		
	 ARTICLE 4 EXPENSES AND TAXES
	  	 	7	  
		
	 ARTICLE 5 USE OF PREMISES
	  	 	12	  
		
	 ARTICLE 6 SERVICES
	  	 	12	  
		
	 ARTICLE 7 REPAIRS
	  	 	13	  
		
	 ARTICLE 8 ADDITIONS AND ALTERATIONS
	  	 	15	  
		
	 ARTICLE 9 COVENANT AGAINST LIENS
	  	 	17	  
		
	 ARTICLE 10 INDEMNIFICATION; INSURANCE
	  	 	17	  
		
	 ARTICLE 11 DAMAGE AND DESTRUCTION
	  	 	19	  
		
	 ARTICLE 12 NONWAIVER
	  	 	22	  
		
	 ARTICLE 13 CONDEMNATION
	  	 	22	  
		
	 ARTICLE 14 ASSIGNMENT AND SUBLETTING
	  	 	23	  
		
	 ARTICLE 15 SURRENDER OF PREMISES; REMOVAL OF PERSONAL PROPERTY AND TRADE FIXTURES
	  	 	26	  
		
	 ARTICLE 16 HOLDING OVER
	  	 	27	  
		
	 ARTICLE 17 ESTOPPEL CERTIFICATES; FINANCIAL STATEMENTS
	  	 	27	  
		
	 ARTICLE 18 SUBORDINATION
	  	 	28	  
		
	 ARTICLE 19 DEFAULTS; REMEDIES
	  	 	28	  
		
	 ARTICLE 20 RIGHTS RESERVED TO LANDLORD
	  	 	31	  
		
	 ARTICLE 21 LANDLORD EXCULPATION
	  	 	32	  
		
	 ARTICLE 22 SECURITY DEPOSIT
	  	 	32	  
		
	 ARTICLE 23 RESERVED
	  	 	32	  
		
	 ARTICLE 24 SIGNS
	  	 	32	  
		
	 ARTICLE 25 COMPLIANCE WITH LAW; HAZARDOUS SUBSTANCES
	  	 	33	  
		
	 ARTICLE 26 LATE CHARGES
	  	 	37	  
		
	 ARTICLE 27 LANDLORD’S RIGHT TO CURE DEFAULT
	  	 	37	  
		
	 ARTICLE 28 ENTRY BY LANDLORD
	  	 	38	  
		
	 ARTICLE 29 TENANT PARKING
	  	 	38	  
		
	 ARTICLE 30 MISCELLANEOUS PROVISIONS
	  	 	38	  

			
	 EXHIBITS

		
	 A
	  	OUTLINE OF PREMISES
	 B
	  	TENANT WORK LETTER
	 B-1
	  	LANDLORD’S WORK
	 B-2
	  	APPROVED SPACE PLAN
	 B-3
	  	CONSTRUCTION RULES AND REGULATIONS
	 B-4
	  	CONSTRUCTION CLOSE-OUT REQUIREMENTS
	 C
	  	FORM OF NOTICE OF LEASE TERM DATES
	 D
	  	RULES AND REGULATIONS
	 E
	  	HAZARDOUS SUBSTANCES DISCLOSURE CERTIFICATE
	 F
	  	ADDITIONAL PROVISIONS
	 G
	  	FORM OF INITIAL SNDA
	 H
	  	SIGNAGE STANDARDS
	 I-1
	  	MEMORANDUM OF LEASE
	 I-2
	  	QUITCLAIM DEED
	 J
	  	EXISTING UNDERLYING DOCUMENTS

 OFFICE LEASE 

This Office Lease (this “Lease”), dated as of the date set forth in Section 1 of the Summary
of Basic Lease Information (the “Summary”), below, is made by and between CA-SUNNYVALE BUSINESS CENTER LIMITED PARTNERSHIP, a Delaware
limited partnership (“Landlord”), and TELENAV, INC., a Delaware corporation (“Tenant”). 
 SUMMARY OF BASIC LEASE INFORMATION 
  

			
	 TERMS OF LEASE
	    	 DESCRIPTION

		
	 1.         Date:
	    	 June 28, 2011

		
	 2.         Premises

            (Article 1).
	    	
		
	 2.1       “Premises” and

“Project”:
	    	 The office/R&D buildings located at 920 DeGuigne Drive, 930 DeGuigne Drive and 950 DeGuigne Drive, Sunnyvale,
California (collectively, the “Buildings” and each a “Building”), as set forth in Exhibit A to this Lease, containing approximately 175,009 rentable square feet of space in their entirety, and the
Exterior Areas (as defined in Section 1.2 below), commonly known, collectively, as “Sunnyvale Business Center.” The approximate rentable square footage of the Buildings are as follows:

 
 920 DeGuigne
Drive                    58,169 rentable sq. ft.
  

930 DeGuigne
Drive                    45,724 rentable sq. ft.
  

950 DeGuigne
Drive                    71,116 rentable sq. ft.

		
	 3.         Lease Term

            (Article 2).
	    	
		
	 3.1       Lease Term:
	    	 The initial term of this Lease (the “Initial Lease Term”) shall commence on the Lease Commencement Date and end on the Lease Expiration Date
(or any earlier date on which this Lease is terminated as provided herein). As used herein “Term” shall mean the Initial Lease Term and any extension of the Term pursuant to the provisions of this Lease.

		
	 3.2       “Lease Commencement Date”:
	    	  
  
 December 1, 2011; provided, however, that the Lease Commencement Date shall be delayed day-for-day for each day of actual delay in the “Substantial Completion Date” (as defined in the Tenant
Work Letter attached hereto as Exhibit B (“Tenant Work Letter”)) caused by “Excusable Delay” (as defined in the Tenant Work Letter).

		
	 3.3       “Lease Expiration Date”:
	    	 The day immediately preceding the eighth (8th) anniversary of the Lease Commencement Date.

  
 1 

	4.    “Base	Rent” 

(Article 3): 
  

											
	         Period During
           Lease Term
  

 
	  	Monthly Base
Rent Per
Rentable
Square Foot
(rounded to
the nearest
100th of a
dollar)	  	 Monthly
Installment
of Base Rent

 
  
	 	  	 Annual
 Base Rent
  

 
	 
				
	     Lease Years 1 and 2*
	  	$1.75	  	$	306,265.75	  	  	$	3,675,189.00	  
				
	 Lease Year 3
	  	$1.80	  	$	315,016.20	  	  	$	3,780,194.40	  
				
	 Lease Year 4
	  	$1.85	  	$	324,466.69	  	  	$	3,893,600.28	  
				
	 Lease Year 5
	  	$1.91	  	$	334,200.69	  	  	$	4,010,408.28	  
				
	 Lease Year 6
	  	$1.97	  	$	344,226.71	  	  	$	4,130,720.52	  
				
	 Lease Year 7
	  	$2.03	  	$	354,553.51	  	  	$	4,254,642.12	  
				
	 Lease Year 8
	  	$2.09	  	$	365,190.11	  	  	$	4,382,281.32	  

 * Notwithstanding the foregoing, but subject to the provisions of Section 3.2
below, Tenant shall be entitled to an abatement of Base Rent in the total amount of Four Million Six Hundred Thirty-Five Thousand Three Hundred Ninety-Three Dollars ($4,635,393.00) (the “Base Rent Abatement”), which shall be applied
as follows: (1) $306,265.75 per month, for the first Lease Year; and (2) $80,017.00 per month, for the second Lease Year; provided, however, that if Base Rent is abated pursuant to Section 6.2, 11.3, or 19.6 of
this Lease or Section 5.1 of the Work Letter for any Building, then the Base Rent Abatement above shall apportioned among the Buildings in proportion to their relative square footage and the Base Rent Abatement above shall be suspended
until all other abatements under Section 6.2, 11.3 and 19.6 under Section 5.1 of the Work Letter have ended, so as to afford Tenant the full benefit of Rent abatement pursuant to said Section 6.2,
11.3, 19.6 and 5.1 before use of the Base Rent Abatement described above and the full Base Rent Abatement described above after cessation of any Rent Abatement under said Lease provisions. 

 

			
	 5.         “Tenant’s
Share”

            (Article
4):
	    	 100%

		
	 6.         “Permitted
Use”
             (Article
5):
	    	 General office, research and development and all other uses consistent with comparable office/R&D projects in the vicinity of the Project and in
conformity with municipal zoning requirements of the City of Sunnyvale and other applicable Laws (as defined in Section 25.1 below)

		
	 7.         “Security
Deposit”
             (Article
22):
	    	 $306,265.75, as more particularly described in Article 22 below. In lieu of a cash Security Deposit, Tenant may furnish a Letter of Credit (as
defined in and pursuant to the terms of Exhibit F)

		
	             Prepaid Base
Rent

            (Article 3):
	    	 $226,248.75, as more particularly described in Article 3 below.

		
	             Prepaid Additional
Rent

            (Article 3):
	    	 $65,250.14, as more particularly described in Article 3 of this Lease.

  
 2 

			
	 8.         Address of Tenant

            (Section 
30.16):
	    	  
 Before the Lease Commencement Date:

 
 1130 Kifer Rd

Sunnyvale, CA 94086
 Attn: General Counsel
  
 From and after the Lease Commencement Date:
  
 The Premises
 Attn: General Counsel

		
	 9.         Address of Landlord

            (Section 
30.16):
	    	 CA-SUNNYVALE BUSINESS CENTER LIMITED

PARTNERSHIP
 2655 Campus Drive, Suite 100
 San Mateo, CA 94403

Attn: Market Officer
  

and
  

Equity Office

2655 Campus Drive, Suite 100
 San Mateo, CA 94403
 Attn: Managing Counsel

 
 and

 
 Equity Office

Two North Riverside Plaza
 Suite 2100
 Chicago, IL 60606

Attn: Lease Administration

		
	 10.       Broker 

            (Section 30.22):
	    	 Cornish & Carey Commercial Newmark Knight Frank

		
	 11.       “Tenant Improvements”:
	    	 Defined in the Tenant Work Letter.

 ARTICLE 1 
 PREMISES AND EXTERIOR AREAS 

1.1        The Premises. 

1.1.1    Subject to the terms hereof, Landlord hereby leases the Premises to Tenant and Tenant
hereby leases the Premises from Landlord. Landlord and Tenant acknowledge and agree that the rentable square footage of the Premises is as set forth in Section 2.2 of the Summary. The parties acknowledge that Exhibit A
is intended only to show the approximate location of the Buildings in the Project, and not to constitute an agreement, representation or warranty as to the construction or precise area of the Premises or as to the specific location or elements of
the Exterior Areas (defined in Section 1.2 below) or of the access ways to the Premises. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term
commencing on the Lease Commencement Date, provided that the last Lease Year shall end on the Lease Expiration Date. 
 1.1.2    Landlord shall deliver possession of the Premises to Tenant (the “Premises Delivery Date”) upon the mutual execution and delivery of this Lease by Landlord
and Tenant and satisfaction of the conditions set forth in Section 2.2 below, and, except as specifically set forth in this Lease (including in the Tenant Work Letter), Tenant agrees to accept the Buildings and Exterior Areas in their
condition and configuration existing on the date hereof, without any obligation of Landlord to provide or pay for any work or services related to the improvement of the Premises, and without any representation or warranty regarding the condition of
the Buildings or Exterior Areas for their suitability or the conduct of Tenant’s business; provided, however, that if, on or before the first anniversary of the Lease Commencement Date (or, as to any defects in Landlord’s Work [as defined
in Section 4.1 of the Tenant Work Letter], not later than ten (10) months following the Lease Commencement Date), Tenant notifies Landlord in writing that the rooftop HVAC units, or any of them, on the Buildings require repair or
replacement, as evidenced by an audit or other report issued by a reputable and licensed service firm 

  
 3 

 
reasonably acceptable to Landlord or of any other defect in Landlord’s Work, then, except to the extent such repairs or replacements are necessitated by the negligence or willful misconduct
of Tenant or any Tenant Party (as defined in Section 10.1.2 below), Landlord shall perform such repairs or replacements at no cost to Tenant. If Tenant does not give Landlord written notice of any such deficiency on or before said date,
correction of any such deficiency shall be governed by the provisions of Article 7 below and this sentence shall no longer apply. In addition, if any of the Buildings are not in the Required Delivery Condition (defined below) as of the
Premises Delivery Date, then Landlord shall not be liable to Tenant for any damages, but Landlord, at no cost to Tenant, shall promptly perform such work or take such other action as may be necessary to place the same in the Required Delivery
Condition; provided, however, that if Tenant does not give Landlord written notice of any such deficiency within six (6) months following the Lease Commencement Date, correction of such deficiency shall be governed by the provisions of
Article 7 or Article 25 below, as applicable and this sentence shall no longer apply. As used in this Lease, the term “Required Delivery Condition” shall mean that the Premises are water tight, all of Landlord’s
Repair Obligations under Section 7.2 of the Lease have been performed, and the Premises is free of asbestos and asbestos-containing building materials (a) in violation of Environmental Laws as of the Premises Delivery Date or
(b) that Tenant will disturb in the performance of the Tenant Improvement Work in accordance with the Approved Space Plan. 
 1.2        Exterior Areas.    So long as the Premises includes all Buildings, the Premises shall include the exterior areas owned
by Landlord that surround the Buildings (which are improved with landscaping, parking areas and other improvements), as shown on Exhibit A, subject to the rules and regulations referred to in Article 5 of this Lease and the
Underlying Documents (such areas are, collectively, referred to herein as the “Exterior Areas”). If the Premises does not include all Buildings, then (A) Tenant shall only have the right to use the Exterior Areas in common with
Landlord and its lessee(s) of the such unleased building, and (B) Landlord reserves the right to close temporarily, make alterations or additions to, or change the location of elements of the Project and the Exterior Areas, provided such
changes do not materially adversely affect or materially interfere with Tenant’s access to or use and enjoyment of the Premises. 
 ARTICLE 2 
 LEASE TERM 

2.1        Lease Term.    The Lease Term shall
commence and, unless ended sooner or extended as herein provided, shall expire on the Lease Commencement Date and Lease Expiration Date, respectively, specified in Section 3 of the Summary of Basic Lease Information. At any time during
the Lease Term, Landlord may deliver to Tenant a notice substantially in the form of Exhibit C attached hereto, as a confirmation of the information set forth therein, which Tenant shall execute and return to Landlord within five
(5) days of receipt thereof. If Tenant fails to execute and return (or reasonably object in writing to) such notice within ten (10) business days after receiving a notice of such failure from Landlord, Tenant shall be deemed to have
executed and returned it without exception. This Lease shall be a binding contractual obligation effective upon execution and delivery hereof by Landlord and Tenant, notwithstanding the later commencement of the Lease Term. 

2.2        Early Occupancy.    During the
period commencing upon execution of this Lease and ending on the Lease Commencement Date (the “Early Occupancy Period”), Tenant shall be permitted to enter the Premises for the purpose of installing the Tenant Improvements and
performing the Tenant Improvement Work, subject to the terms and conditions set forth in the Tenant Work Letter, provided that, prior to Tenant’s entry in the Premises, Tenant shall furnish to Landlord certificates of insurance satisfactory to
Landlord evidencing Tenant’s compliance with the requirements of Section 10.3 below, and, if Tenant enters the Premises prior to the completion of Landlord’s Work, a schedule, for Landlord’s approval (which approval shall
not be unreasonably withheld, conditioned or delayed), which schedule shall describe the coordination, if required, of the Tenant Improvement Work which may impact the Landlord’s Work. Tenant’s occupancy of the Premises during the Early
Occupancy Period shall be subject to all of the terms, covenants and conditions of this Lease, including, without limitation, Tenant’s indemnity obligations set forth in Section 10.1 below, except that Landlord agrees that
Tenant’s obligation to pay Base Rent and “Direct Expenses” (defined in Section 4.1 below) shall be waived. Tenant shall, however, pay the cost of all Utilities (as defined in Section 6.1 below) and other
services provided to the Premises prior to the Lease Commencement Date that are reimbursable under the terms of this Lease and are required by reason of Tenant’s construction of the Tenant Improvement Work, subject to reimbursement of the cost
thereof as an Allowance Item pursuant to Exhibit B. 

2.3        Extension Options. 

2.3.1        Option Terms.  Subject to the terms and
conditions set forth below, Tenant shall have two (2) options (each, an “Extension Option” and, collectively, the “Extension Options”), for successive periods of five (5) years each (the “First
Option Term” and the “Second Option Term”; and, each, an “Option Term”); provided, however, that the second Extension Option may be exercised only if

  
 4 

 
the first Extension Option has been duly exercised. If Tenant properly exercises an Extension Option hereunder, all of the terms, covenants and conditions of this Lease shall continue in full
force and effect during the applicable Option Term, including provisions regarding payment of Additional Rent, which shall remain payable on the terms herein set forth, except that (a) the Base Rent payable by Tenant during the Option Term
shall be as calculated in accordance with Section 2.3.3 and Section 2.3.4 below, (b) Tenant shall continue to possess and occupy the Premises in their existing condition, “as is” as of the commencement of such
Option Term, and, except as otherwise expressly provided in this Lease, including without limitation Section 7.2 of this Lease, Landlord shall have no obligation to repair, remodel, improve or alter the Premises, to perform any other
construction or other work of improvement upon the Premises, or to provide Tenant with any construction or refurbishing allowance whatsoever, and (c) Tenant shall have no further rights to extend the Term of this Lease after the expiration of
the Second Option Term. 
 2.3.2    Exercise.  The Extension
Options contained in this Section 2.3 shall be exercised by Tenant only in the following manner: (a) Tenant shall deliver written notice (the “Option Interest Notice”) to Landlord not more than eighteen
(18) months nor less than thirteen (13) months prior to the Lease Expiration Date (as the same may have been extended), stating that Tenant is interested in exercising its next succeeding Extension Option; (b) Landlord shall, not
later than fifteen (15) days before the Option Exercise Date, deliver to Tenant a good faith written proposal of the Market Rate (“Landlord’s Initial Proposal”); and (c) if Tenant wishes to exercise such Extension
Option, Tenant must deliver an unconditional binding notice to Landlord (“Exercise Notice”) via certified mail, FedEx or hand delivery not later than twelve (12) months prior to the Lease Expiration Date (as the same may have
been extended) (“Option Exercise Date”), the time of such exercise being of the essence; provided, however, that if Landlord fails to deliver Landlord’s Initial Proposal at least fifteen (15) days before the Option
Exercise Date as described above, then such Option Exercise Date shall be extended to the date that is fifteen (15) days following Landlord’s delivery to Tenant of Landlord’s Initial Proposal. If Tenant timely exercises the Extension
Option as described above, then, upon, and concurrent with, such exercise, Tenant may, at its option, accept or reject Landlord’s Initial Proposal. If Tenant exercises the Extension Option but fails to accept or reject Landlord’s Initial
Proposal, then Tenant shall be deemed to have rejected Landlord’s Initial Proposal. If Tenant fails to timely give its Exercise Notice, Tenant will be deemed to have waived such Extension Option. 

2.3.3    Market Rate Calculation.  The Base Rent payable by Tenant for the
Premises during the First Option Term shall be ninety-five percent (95%) of the Market Rate (as defined below) for the Premises, and the Base Rent payable by Tenant for the Premises during the Second Option Term shall be one hundred percent
(100%) of the Market Rate for the Premises, valued as of the commencement of such Option Term, determined in the manner hereinafter provided; provided, however, that in the event that TELENAV,
INC., a Delaware corporation (the “Original Tenant”) or a Permitted Assignee (as defined in Section 2.3.5, below) assigns this Lease prior to the commencement of the First Option Term to any party
(other than to a Permitted Assignee), then, notwithstanding the foregoing, the Base Rent payable by Tenant during the First Option Term shall be one hundred percent (100%) of the Market Rate for the Premises. As used herein, the term
“Market Rate” shall mean the annual amount of Base Rent at which tenants, as of the commencement of the applicable Option Term, are leasing non-sublease, non-equity space under then prevailing ordinary rental market practices, at
arm’s length, that is comparable to the Premises in the submarket in which the Project is located (the “Comparison Projects”), based upon binding lease transactions for tenants in the Comparison Projects that, where possible,
commence or are to commence within six (6) months prior to or within six (6) months after the commencement of such Option Term (“Comparison Leases”). Comparison Leases shall include renewal and new non-renewal tenancies,
but shall exclude subleases and leases of space subject to another tenant’s expansion rights. Rental rates payable under Comparison Leases shall be adjusted to account for variations between this Lease and the Comparison Leases with respect to:
(a) the length of the applicable Option Term compared to the lease term of the Comparison Leases; (b) rental structure, including, without limitation, rental rates per rentable square foot (including type, gross or net, and if gross,
adjusting for base year or expense stop), additional rental, escalation provisions, all other payments and escalations; (c) the size of the Premises compared to the size of the premises of the Comparison Leases; (d) free rent, moving
expenses and other cash payments, allowances or other monetary concessions affecting the rental rate; (e) the age and quality of construction of the buildings (including compliance with applicable codes, but excluding Tenant’s Property);
and (f) leasehold improvements and/or allowances granted to the lessee, including the amounts thereof in renewal leases, and taking into account, in the case of renewal leases (including this Lease), the value of existing leasehold improvements
(other than Tenant’s Property) to the renewal tenant. 
 2.3.4    Base Rent
Determination.  The Base Rent payable by Tenant for the Premises during each Option Term shall be determined as follows: 
 (a)        If Tenant timely exercises the Extension Option as described in Section 2.3.2 above, but rejects (or is deemed to have rejected)
Landlord’s Initial Proposal, then Landlord and Tenant shall negotiate in good faith in an attempt to determine the Market Rate for the Premises for 

  
 5 

 
the applicable Option Term. If Landlord and Tenant are able to agree on the Market Rate on or before the date that is ninety (90) days prior to the commencement of the applicable Option Term
(the “Outside Agreement Date”), then such agreement shall constitute a determination of Market Rate for purposes of this Section, and the parties shall immediately execute an amendment to this Lease stating the Base Rent for the
applicable Option Term. If Landlord and Tenant are unable to agree on the Market Rate prior to the Outside Agreement Date, then within fifteen (15) days after the expiration of such negotiating period, the parties shall meet and concurrently
deliver to each other in envelopes their respective good faith estimates of the Market Rate (set forth on a net effective rentable square foot per annum basis) (respectively, “Landlord’s Determination” and
“Tenant’s Determination”). Landlord’s Determination may not be more than Landlord’s Initial Proposal, but may otherwise be more or less than any proposal made by Landlord during the negotiating period prior to the
Outside Agreement Date, and, similarly, Tenant’s Determination may be more or less than any proposal made by Tenant during such negotiating period. If the higher of such estimates is not more than one hundred five percent (105%) of the
lower, then the Market Rate shall be the average of the two. Otherwise, the Market Rate shall be resolved by arbitration in accordance with Sections 2.3.4(c) and 2.3.4(d) below. 

(c)        Within fifteen (15) business days after the exchange of
estimates, the parties shall select as an arbitrator an independent real estate broker with at least five (5) years of experience in leasing commercial office space in the metropolitan area in which the Project is located (a “Qualified
Appraiser”). If the parties cannot agree on a Qualified Appraiser, then within a second period of seven (7) days, each shall select a Qualified Appraiser and within ten (10) days thereafter the two appointed Qualified Appraisers
shall select an independent Qualified Appraiser and the independent Qualified Appraiser shall be the sole arbitrator. If one party shall fail to select a Qualified Appraiser within the second seven (7) day period, then the Qualified Appraiser
chosen by the other party shall be the sole arbitrator. 

(d)        Within twenty-one (21) days after submission of the matter to
the arbitrator, the arbitrator shall determine the Market Rate by choosing whichever of the Landlord’s Determination or the Tenant’s Determination the arbitrator judges to be more accurate. The arbitrator shall notify Landlord and Tenant
of its decision, which shall be final and binding. If the arbitrator believes that expert advice would materially assist him, the arbitrator may retain one or more qualified persons to provide expert advice. The fees of the arbitrator and the
expenses of the arbitration proceeding, including the fees of any expert witnesses retained by the arbitrator, shall be paid by the party whose estimate is not selected. Each party shall pay the fees of its respective counsel, the Qualified
Appraiser it appointed to select the independent Qualified Appraiser (if applicable), and the fees of any witness called by that party. 
 (e)        Until the matter is resolved by agreement between the parties or a decision is rendered in any arbitration commenced pursuant to this
Section 2.3.4, Tenant’s monthly payments of Base Rent shall be in an amount equal to the average of Landlord’s and Tenant’s Determinations of the Market Rate delivered to each other pursuant to Section 2.3.4(b) above.
Within ten (10) business days following the resolution of such dispute by the parties or the decision of the arbitrator, as applicable, Tenant shall pay to Landlord, or Landlord shall pay to Tenant, the amount of any deficiency or excess, as
the case may be, in the Base Rent theretofore paid. 
 2.3.5    Rights Personal to
Tenant.  Tenant’s right to exercise the Extension Options are personal to, and may be exercised only by, the Original Tenant or any assignee of this Lease either permitted without Landlord’s consent pursuant to
Section 14.8 below (a “Permitted Assignee”) or otherwise approved by Landlord pursuant to Article 14 (an “Approved Assignee”), and only if the Original Tenant, any Permitted Assignee or any
Approved Assignee continues to occupy at least seventy-five percent (75%) of the rentable square footage of the Premises at the time of such exercise. No assignee (other than a Permitted Assignee and/or Approved Assignee) or subtenant shall
have any right to exercise an Extension Option granted herein. In addition, if Tenant is in Default at the time it exercises an Extension Option, the exercise shall be void, and, if Tenant does not properly exercise an Extension Option at a time
when it is not in Default, Landlord shall have, in addition to all of its other rights and remedies under this Lease, the right (but not the obligation) to terminate the remaining Extension Options and to unilaterally revoke Tenant’s exercise
of such Extension Option, in which case this Lease shall expire on the Lease Expiration Date, unless earlier terminated pursuant to the terms hereof, and Tenant shall have no further rights under this Lease to renew or extend the Lease Term.

 ARTICLE 3 
 RENT 

3.1        Payment of Rent.  Tenant shall pay to Landlord
or Landlord’s agent, without prior notice or demand or any setoff or deduction, at the place Landlord may from time to time designate in writing, by a check for currency (or by wire transfer) which, at the time of payment, is legal tender for
private or public debts in the United States of America, all Base Rent and Additional Rent (defined below) 

  
 6 

 
(collectively, “Rent”). As used herein, “Additional Rent” means all amounts, other than Base Rent, that Tenant is required to pay Landlord hereunder. Monthly
payments of Base Rent and monthly estimated payments of “Direct Expenses” (defined in Section 4.1 below) shall be paid in advance on or before the first day of each calendar month during the Lease Term; provided, however, that
the installment of Base Rent for the first full calendar month for which Base Rent is payable hereunder and the installment of Direct Expenses for the first full calendar month for which such Additional Rent is payable hereunder shall be paid upon
Tenant’s execution and delivery of this Lease. Except as otherwise provided herein, all other items of Additional Rent shall be paid within 30 days after Landlord’s written request for payment. Rent for any partial calendar month
shall be prorated based on the actual number of days in the month. 

3.2        Additional Rent Upon Default by
Tenant.  Landlord and Tenant acknowledge that to induce Tenant to enter into this Lease, and in consideration of Tenant’s agreement to perform all of the terms, covenants and conditions to be performed by Tenant under this
Lease, as and when performance is due during the Lease Term, Landlord has incurred (or will incur) significant costs, including, without limitation, the following: (i) payment of the Allowance (as described in the Tenant Work Letter),
(ii) commissions to Landlord’s and/or Tenant’s real estate broker, (iii) attorneys’ fees and related costs incurred and/or paid by Landlord in connection with the negotiation and preparation of this Lease and/or
(iv) the Base Rent Abatement granted to Tenant as set forth in Item 4 of the Summary (collectively, the “Inducements”). Landlord and Tenant further acknowledge that Landlord would not have granted the Inducements to Tenant
but for Tenant’s agreement to perform all of the terms, covenants, conditions and agreements to be performed by it under this Lease for the entire initial Lease Term, and that Landlord’s agreement to incur such expenditures and grant such
concessions is, and shall remain, conditioned upon Tenant’s faithful performance of all of the terms, covenants, conditions and agreements to be performed by Tenant under this Lease for the entire Lease Term. Accordingly, if this Lease is
terminated prior to the expiration of the initial Lease Term because a Default by Tenant shall occur hereunder, Landlord shall be relieved of any unfulfilled obligation to grant Inducements hereunder, or to incur further expenses in connection
therewith, and Tenant shall pay, as liquidated damages for Landlord’s granting the Inducements and not as a penalty, within ten (10) days after the occurrence of such termination because of the Default, as Additional Rent, the unamortized
amount of those Inducements (as defined below) incurred or granted prior to the date of the Default (the “Pre-Default Inducements”). Landlord may or, at Tenant’s request, shall, after the occurrence of a Default that may lead
to a termination, forward a statement to Tenant setting forth the amount of the unamortized Pre-Default Inducements, but the failure to deliver such a statement shall not be or be deemed to be a waiver of the right to collect the Pre-Default
Inducements or to extend the date upon which such amount shall be due and payable. For purposes of this Section 3.2, the unamortized amount of the Pre-Default Inducements shall equal the remaining principal component, measured on the
date of the Default, of a straight-line amortization commencing on the first day of the twentieth (20th) full calendar month of the Lease Term and continuing over the Initial Lease Term of a principal amount equal to the Pre-Default Inducements. Notwithstanding the foregoing, Landlord shall not be
entitled to recover Pre-Default Inducements if, and to the extent that, Tenant proves that such recovery would be duplicative of amounts that Landlord is otherwise entitled to recover pursuant to California Civil Code Sections 1951.2 or 1951.4,
as applicable. 
 ARTICLE 4 
 EXPENSES AND TAXES 

4.1        General Terms.    In addition to
paying the Base Rent, Tenant shall pay, in accordance with Section 4.4 below, for each Expense Year (defined in Section 4.2.1 below), an amount equal to the sum of the following (collectively, the “Direct
Expenses”): (a) Tenant’s Share of Expenses for such Expense Year, plus (b) Tenant’s Share of Taxes for such Expense Year, plus (c) a management fee equal to three percent (3%) of the Base Rent, Tenant’s
Share of Expenses and Tenant’s Share of Taxes payable by Tenant for the applicable Expense Year (without regard to the Base Rent Abatement described in Item 4 of the Summary) (the “Permitted Management Fee”). The
obligations of Tenant to pay the Additional Rent provided for in this Article 4 shall survive the expiration or earlier termination of this Lease. If this Lease commences on a day other than the first day of an Expense Year or expires or
terminates on a day other than the last day of an Expense Year, Tenant’s payment of Direct Expenses for the Expense Year in which such commencement, expiration or termination occurs shall be prorated based on the ratio between (x) the
number of days in such Expense Year that fall within the Lease Term, and (y) the number of days in such Expense Year. Notwithstanding the foregoing, Tenant shall have no obligation to pay Direct Expenses allocable to the 930 DeGuigne Building
until the earlier to occur of (i) December 1, 2013 or (ii) the date that Tenant or a subtenant occupies the 930 DeGuigne Building or any portion thereof for the conduct of business. 

4.2        Definitions of Key Terms Relating to Additional
Rent.    As used in this Lease, the following terms shall have the meanings hereinafter set forth: 
 4.2.1    “Expense Year” shall mean each calendar year in which any portion of the Lease Term falls, the parties acknowledging that, subject to Section 4.1,
Tenant’s payment of Direct Expenses 

  
 7 

 
shall begin on the Lease Commencement Date, notwithstanding the later commencement of the payment of Base Rent hereunder. 

4.2.2    “Expenses” shall mean all expenses, costs and amounts that Landlord pays
or accrues during any Expense Year because of or in connection with the ownership, management, maintenance, security, repair, replacement, restoration or operation of the Project. Landlord shall act in a commercially reasonable manner in incurring
Expenses. Without limiting the foregoing, Expenses shall include: (i) the cost of supplying all Utilities, the cost of operating, repairing, maintaining and renovating the utility, telephone, mechanical, sanitary, storm-drainage, and elevator
systems, and the cost of maintenance and service contracts in connection therewith; (ii) the cost of licenses, certificates, permits and inspections, the cost of contesting any Laws that may affect Expenses, and the costs of complying with any
governmentally-mandated transportation-management or similar program; (iii) the cost of all insurance premiums and deductibles; (iv) the cost of landscaping and re-lamping; (v) the cost of parking-area operation, repair, restoration,
and maintenance; (vi) fees and other costs, including management and/or incentive fees, consulting fees, legal fees and accounting fees, of all contractors and consultants in connection with the management, operation, maintenance and repair of
the Project; (vii) payments under any equipment-rental agreements; (viii) wages, salaries and other compensation, expenses and benefits, including taxes levied thereon, of all persons engaged in the operation, maintenance and security of
the Project, and costs of training, uniforms, and employee enrichment for such persons; (ix) the costs of operation, repair, maintenance and replacement of all systems and equipment (and components thereof) of the Project; (x) the cost of
janitorial, alarm, security and other services, replacement of wall and floor coverings, ceiling tiles and fixtures in common areas, maintenance and replacement of curbs and walkways, repair to roofs and re-roofing; (xi) rental or acquisition
costs of supplies, tools, equipment, materials and personal property used in the maintenance, operation and repair of the Project; (xii) the cost of capital improvements or any other items that are (A) reasonably intended to effect
economies in the operation or maintenance of the Project or reduce current or future Expenses (“Cost Saving Expenditures”), (B) reasonably intended to enhance the safety or security of the Project or its occupants,
(C) replacements or modifications of the nonstructural portions of the Base Building (as defined in Section 7.2 below) or the Exterior Areas that are required to keep the Base Building or the Exterior Areas in good condition, or
(D) required under any Law, excluding any such capital improvements or other items made to remedy a noncompliance with any Laws in effect as of the date of this Lease (based on the current interpretation of such Laws by applicable governmental
authorities as of the date of this Lease), so long as any of the foregoing capital items in subparts (A) through (D) are amortized [including reasonable actual or imputed interest on the amortized cost] over a period of time that is the
lesser of (1) the useful life of such item in accordance with GAAP (as defined below), as reasonably determined by Landlord) or (2) in the case of a Cost Saving Expenditure, the period of time that Landlord reasonably estimates will be
required for any cost savings resulting from such capital item to equal the cost of such item; (xiii) except for costs and expenses which are the sole responsibility of Tenant pursuant to Section 7.2 below, all other costs paid or
incurred by Landlord to perform Landlord’s Repair Obligations (as defined in pursuant to Section 7.2.1 below); and (xiv) except to the extent already included in Expenses or otherwise expressly excluded from Expenses, payments
under any reciprocal easement agreement, transportation management agreement, cost-sharing agreement or other covenant, condition, restriction or similar instrument affecting the Project on the date this Lease is signed which are identified in
attached Exhibit J (collectively, the “Underlying Documents”). Any expenditures described in clauses (xi), (xii) or (xiii) above that constitute capital expenditures in accordance with GAAP (as defined
below) are herein referred to as a “Permitted Capital Expenditure”. 
 Notwithstanding anything
to the contrary in this Lease, Expenses shall not include the following, and Tenant shall not have any obligation whatsoever to pay, perform or incur any of the following costs, liabilities, maintenance, repairs, premiums, losses, or other expenses
(collectively, “Excluded Expenses”): 

(a)        capital expenditures that do not constitute Permitted Capital
Expenditures (in addition, any Permitted Capital Expenditures, except for Cost Saving Expenditures, shall be amortized [including reasonable actual or imputed interest on the amortized cost] over the useful life of such item in accordance with
customary and generally accepted real estate management and accounting principles [“GAAP”], as reasonably determined by Landlord); 
 (b)        depreciation or expense reserves; 
 (c)        principal, interest (except as expressly provided in subpart (xi) and clause (a) of this Section 4.2.2) and other payments on
mortgage and other non-operating debts of Landlord; 
 (d)        costs
for which Landlord receives reimbursement from a third party, including, without limitation, insurance or condemnation proceeds (other than through the payment by other tenants of the Project of their pro-rata share of Expenses), and Landlord shall
use commercially 

  
 8 

 
reasonable efforts to secure any reimbursements to which it is entitled and will credit any such recovery, whether during or after the Lease Term to Tenant; 

(e)        costs in connection with the marketing or leasing of space in the
Project, including brokerage commissions, lease concessions, rental abatements and construction allowances; and costs incurred due to a violation of this Lease by Landlord; 

(f)        costs incurred in connection with the sale, ground leasing, financing
or refinancing of the Project, or any portion thereof; 

(g)        fines, interest and penalties incurred due to the late payment of
Taxes or Expenses, or any failure of Landlord to timely pay any obligation; 

(h)        organizational expenses associated with the creation and operation of
the entity that constitutes Landlord; 
 (i)        any penalties or
damages that Landlord pays to Tenant under this Lease; 

(j)        costs to complete Landlord’s Work or to place the Premises in
the delivery condition required by the terms of this Lease; 

(k)        costs to maintain the Project in a structurally sound condition,
(1) except to the extent the same constitute Expenses pursuant to clause (xii) above or (2) except in connection with a Casualty (as defined in Section 11.1.1 below) or a Taking (as defined in Article 13 below) and
permitted by clauses (l) and (m) below; 
 (l)        costs
of repairs or restoration occasioned by a Casualty or Taking other than the amount of any deductibles under any insurance policy carried by Landlord, provided, however, that the amount of any such deductibles included among the Expenses shall be
limited as provided in clause (m) below; 
 (m)        [*****],
provided, however, that if this Lease is not terminated as a consequence of the Casualty pursuant to Article 11 and if Landlord performs the [*****] pursuant to said Article 11, Landlord may include the following amounts in
Expenses [*****]: 
 (1)        [*****] up to the amount (the
“Annual Limit”) of [*****] (provided, however, that, notwithstanding any contrary provision hereof, if, for any occurrence, [*****] exceeds the Annual Limit, then, after such deductible is included (up to the Annual Limit) in
Expenses for the applicable Expense Year, such excess may be included (up to the Annual Limit) in Expenses for the immediately succeeding Expense Year, and any portion of such excess that is not so included in Expenses for such immediately
succeeding Expense Year may be included (up to the Annual Limit) in Expenses for the next succeeding Expense Year, and so on with respect to each subsequent Expense Year; provided further, however, that (A) no portion of such deductible shall
be included in Expenses for any Expense Year that is not included, in whole or in part, in the Term existing on the date of the earthquake occurrence, and (B) in no event shall the portions of such deductible that are included in Expenses for
any one or more Expense Years exceed, in the aggregate, [*****]. On the date of this Lease, [*****] 

(2)        deductibles from Landlord’s property insurance policy (other
than earthquake deductibles) up to $50,000.00 per occurrence; 

(n)        any fine, cost or expense (including reasonable legal expenses and
consultants’ fees) paid by Landlord in connection with the investigation or monitoring of Hazardous Substances, in connection with any “Remedial Work” (as defined in Section 25.2.3 below), or otherwise incurred by Landlord
with respect to Hazardous Substances (other than Tenant’s Hazardous Substances); provided, however, that the foregoing shall not modify the rights and obligations of the parties under Article 25 of this Lease; 

(o)        costs arising out of the gross negligence, willful misconduct, breach
of lease, or violation of any applicable Laws by Landlord or any other Landlord Party; 

(p)        costs expressly made the sole obligation of Landlord under the terms
of this Lease; 
  
  

[*****] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange
Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
 9 

 (q)        costs and premiums for
insurance not customarily carried by owners of commercial properties substantially similar to, and in the vicinity of, the Project and co-insurance payments; 
 (r)        costs to acquire sculpture, paintings, fountains or other objects of art; 

(s)        charitable and political contributions; 

(t)        costs associated with the operation of the business of the
partnership or entity which constitutes the Landlord, as the same are distinguished from the costs of operation of the Project (which shall specifically include, but not be limited to, accounting costs associated with the operation of the Project).
Costs associated with the operation of the business of the partnership or entity which constitutes the Landlord include costs of partnership accounting and legal matters, and wages, salaries, fees or fringe benefits (“Labor Costs”)
paid to personnel above the level of general manager (provided, however, that if such individuals provide services directly relating to the operation, maintenance or ownership of the Project that, if provided directly by a general manager or
property manager or his or her general support staff, would normally be chargeable as an operating expense of a comparable office project, then the Labor Costs of such individuals may be included in Expenses to the extent of the percentage of their
time that is spent providing such services to the Project); 

(u)        costs paid to affiliates of Landlord for services to the extent that
such costs materially exceed the competitive cost for the services and materials rendered by unrelated persons or entities of similar skill, competence and experience in an arm’s length transaction; 

(v)        advertising, marketing, and promotional costs; or 

(w)        Taxes or Excluded Taxes. 

4.2.3     “Taxes” shall mean all federal, state, county or local governmental or
municipal taxes, fees, charges, assessments, levies, licenses or other impositions, whether general, special, ordinary or extraordinary, that are paid or accrued during any Expense Year (without regard to any different fiscal year used by such
governmental or municipal authority) because of or in connection with the ownership, leasing or operation of the Project. Taxes shall include (a) real estate taxes; (b) general and special assessments; (c) transit taxes;
(d) leasehold taxes; (e) personal property taxes imposed upon the fixtures, machinery, equipment, apparatus, systems, appurtenances, furniture and other personal property used in connection with the Project; (f) any tax on the rent,
right to rent or other income from any portion of the Project or as against the business of leasing any portion of the Project; (g) any assessment, tax, fee, levy or charge imposed by any governmental agency, or by any non-governmental entity
pursuant to any private cost-sharing agreement, in order to fund the provision or enhancement of any fire-protection, street-, sidewalk- or road-maintenance, refuse-removal or other service that is (or, before the enactment of Proposition 13,
was) normally provided by governmental agencies to property owners or occupants without charge (other than through real property taxes); and (h) any assessment, tax, fee, levy or charge allocable or measured by the area of the Premises or by
the Rent payable hereunder, including any business, gross income, gross receipts, sales or excise tax with respect to the receipt of such Rent. Any costs and expenses (including reasonable attorneys’ and consultants’ fees) reasonably
incurred in attempting to protest, reduce or minimize Taxes shall be included in Taxes for the year in which they are incurred. Notwithstanding anything herein to the contrary, Taxes shall exclude (i) all excess profits taxes, franchise taxes,
gift taxes, capital stock taxes, inheritance and succession taxes, transfer taxes, estate taxes, federal and state income taxes, and other taxes to the extent applicable to Landlord’s general or net income (as opposed to rents, receipts or
income attributable to operations at the Project), (ii) any Expenses or governmental taxes or fees paid solely to maintain the Landlord entity in good standing under applicable Law, and (iii) any items required to be paid by Tenant under
Section 4.5 below (collectively “Excluded Taxes”). During the Term, upon written request by Tenant to Landlord at least sixty (60) days before the expiration of any applicable appeal period, or if Landlord, in its
good faith business judgment, deems the real property Taxes levied against the Project for any tax fiscal year to be excessive, then Landlord shall exercise commercially reasonable efforts to seek Proposition 8 and other available property tax
relief for such fiscal year and any such relief shall accrue to the benefit of Tenant as and to the extent set forth in Section 4.4.3 below. 
 4.3        Cost Sharing.  If Landlord incurs Expenses or Taxes for the Project together with one or more other buildings or properties,
whether pursuant to a reciprocal easement agreement, common area agreement or otherwise or if the Premises does not include the entire Project and Landlord incurs Expenses or Taxes benefitting both the Premises or any other space in the Project,
such shared amounts shall be equitably prorated and apportioned between the Project and such other buildings or properties or between the Premises and the other areas of the Project, as applicable, in Landlord’s reasonable discretion.

  
 10 

 4.4        Calculation and
Payment of Expenses and Taxes. 
 4.4.1        Statement
of Actual Expenses and Taxes and Payment by Tenant.  Landlord shall give to Tenant, within 180 days after the end of each Expense Year a statement (the “Statement”) setting forth the actual amount of Direct
Expenses for such Expense Year, including Tenant’s Share of Expenses and Taxes for such Expense Year. If the amount paid by Tenant for such Expense Year pursuant to Section 4.4.2 below is less or more than the actual sum of
Tenant’s Direct Expenses for such Expense Year (as such amounts are set forth in such Statement), Tenant shall pay Landlord the amount of such underpayment, or receive a credit in the amount of such overpayment, with or against the Rent next
due hereunder; provided, however, that if this Lease has expired or terminated and Tenant has vacated the Premises, Tenant shall pay Landlord the amount of such underpayment, or Landlord shall pay Tenant the amount of such overpayment (less any Rent
due), within 30 days after delivery of such Statement. Any failure of Landlord to timely furnish the Statement for any Expense Year shall not preclude Landlord or Tenant from enforcing its rights under this Article 4. Notwithstanding the
immediately preceding sentence, Tenant shall not be responsible for any Direct Expenses attributable to any Expense Year which are first billed to Tenant more than two (2) calendar years after the expiration of the applicable Expense Year,
provided that in all events Tenant shall be responsible for Direct Expenses levied by any governmental authority or by any public utility companies at any time which are attributable to any Expense Year (provided that Landlord delivers Tenant a bill
for such amounts within two (2) years following Landlord’s receipt of the bill therefor). 

4.4.2        Statement of Estimated Expenses and
Taxes.  Landlord shall endeavor to give to Tenant, for each Expense Year, a statement (the “Estimate Statement”) setting forth Landlord’s reasonable estimates of the Direct Expenses (the “Estimated
Direct Expenses”) for such Expense Year, including Tenant’s Share of Expenses and Taxes for such Expense Year. Notwithstanding anything to the contrary in this Lease, the Estimated Direct Expenses for any portion of the term during
2011 shall be $0.50 per month per square foot of the Premises. Upon receiving an Estimate Statement, Tenant shall pay, with its next installment of Base Rent, an amount equal to the excess of (a) the amount obtained by multiplying (i) the
sum of the Estimated Direct Expenses (as such amount is set forth in such Estimate Statement), by (ii) a fraction, the numerator of which is the number of months that have elapsed in the applicable Expense Year (including the month of such
payment) and the denominator of which is 12, over (b) any amount previously paid by Tenant for such Expense Year pursuant to this Section 4.4.2. Until a new Estimate Statement is furnished (which Landlord shall have the right to
deliver to Tenant at any time), Tenant shall pay monthly, with the monthly Base Rent installments, an amount equal to one-twelfth (1/12) of the sum of the Estimated Direct Expenses, as such amount is set forth in the previous Estimate Statement
delivered by Landlord to Tenant. Except as expressly provided in Section 4.4.1, any failure of Landlord to timely furnish any Estimate Statement shall not preclude Landlord from enforcing its rights to receive payments and revise any
previous Estimate Statement under this Article 4. 

4.4.3        Retroactive Adjustment.  Notwithstanding
anything herein to the contrary, but subject to Section 4.4.1, if, after Landlord’s delivery of any Statement, an increase or decrease in Direct Expenses occurs for the applicable Expense Year (whether, in the case of Taxes, by
reason of reassessment or error, or, in the case of Expenses, by a third-party’s reimbursement of costs or otherwise), Direct Expenses for such Expense Year shall be retroactively adjusted. If, as a result of such adjustment, it is determined
that Tenant has under- or overpaid Tenant’s Share of such Taxes or Expenses, Tenant shall pay Landlord the amount of such underpayment, or receive a credit in the amount of such overpayment, with or against the Rent then or next due hereunder;
provided, however, that if this Lease has expired or terminated and Tenant has vacated the Premises, Tenant shall pay Landlord the amount of such underpayment, or Landlord shall pay Tenant the amount of such overpayment (less any Rent due), within
30 days after such adjustment is made. 
 4.5         Taxes
and Other Charges for Which Tenant Is Directly Responsible. 
 4.5.1    Tenant
shall pay, 10 days before delinquency, any taxes levied against Tenant’s equipment, furniture, trade fixtures and other personal property located in or about the Premises (“Tenant’s Property”). If any such taxes are levied
against Landlord or its property (or if the assessed value of Landlord’s property is increased by the inclusion therein of a value placed upon such equipment, furniture, fixtures or other personal property of Tenant), and if Landlord pays such
taxes (or such increased assessment), which Landlord shall have the right to do regardless of the validity thereof (unless the same is timely and successfully challenged by Tenant or, if requested by Tenant, the same is made by Landlord under
protest as and to the extent permitted by Law), Tenant shall, upon demand, repay to Landlord the amount so paid. 
 4.5.2    Notwithstanding any contrary provision herein, Tenant shall pay, 10 days before delinquency, (i) any rent tax, sales tax, service tax, transfer tax or value added tax, or
any other tax respecting the rent or services described herein or otherwise respecting this Lease; (ii) taxes assessed upon the possession, leasing, operation, management, maintenance, alteration, repair, use or occupancy by Tenant of any
portion of the Project; and (iii) taxes assessed upon this transaction or any document to 

  
 11 

 
which Tenant is a party creating or transferring an interest in the Premises; provided, however, that the foregoing shall not be interpreted to require Tenant to pay any Excluded Taxes.

 4.6        Tenant’s Audit
Rights.  Within ninety (90) days after Tenant’s receipt of a Statement, Tenant may request all back up bills and evidence of expenses referenced in the Statement (the “back up data”), and then, if Tenant
disputes the amount of Direct Expenses set forth in the Statement within thirty (30) days after Tenant’s receipt of the back up data, Tenant or an agent designated by Tenant may, after reasonable notice to Landlord and at reasonable times
subject to Landlord’s reasonable scheduling requirements, inspect Landlord’s records at Landlord’s offices, provided that Tenant has paid the amounts claimed to be due under the applicable Statement, and Tenant agrees that any records
of Landlord reviewed under this Section 4.6 shall constitute confidential information of Landlord, which Tenant shall not disclose, nor permit to be disclosed by Tenant or Tenant’s accountant, except to its attorneys or as may be
required by applicable Law. If Tenant retains an agent to review Landlord’s records, the agent must be with a CPA firm licensed to do business in the State of California and such accountant must not be compensated on a contingency fee or
similar basis related to the result of such audit. If after such inspection, Tenant still disputes such Direct Expenses included in the Statement, Landlord and Tenant shall work together in good faith to resolve Tenant’s objections. If the
parties are unable to resolve such objections within sixty (60) days following the completion of Tenant’s inspection, then a determination as to the proper amount shall be made, at the expense of the parties as provided below, by a real
estate professional experienced in lease audits who has not represented Landlord or Tenant in the preceding five (5) years (a “Qualified Professional”) selected by mutual agreement of Landlord and Tenant and if the parties are
unable to agree upon a Qualified Professional, then such Qualified Professional shall be selected by application to the presiding judge of the Santa Clara County Superior Court. The Qualified Professional shall, in any event, be required to select
and retain an independent certified public accountant to advise and assist such professional in his or her analysis and determination hereunder. Notwithstanding anything contained in this Section to the contrary, if the actual amount of Direct
Expenses due for any Expense Year, as determined by the Qualified Professional, [*****], then Landlord shall pay the costs associated with such certification. In addition, if the determination by the Qualified Professional reveals that Landlord has
overcharged or undercharged Tenant, then, within thirty (30) days after the results of such audit, Landlord shall reimburse Tenant the amount of the overcharge or Tenant shall pay the amount of the undercharge, as applicable. Tenant hereby
acknowledges that Tenant’s sole right to inspect Landlord’s books and records and to contest the amount of Direct Expenses payable by Tenant shall be as set forth in this Section 4.6, and Tenant hereby waives any and all other
rights pursuant to applicable Laws to inspect such books and records and/or to contest the amount of Direct Expenses payable by Tenant. 
 ARTICLE 5 
 USE OF PREMISES 

Tenant shall not (a) use the Premises for any purpose not permitted under Article 25 below, or for any
purpose other than the Permitted Use; or (b) do anything in or about the Premises that (i) violates any of the Rules and Regulations or any provision of the Underlying Documents, or (ii) constitutes a nuisance. Tenant’s rights
and obligations under this Lease and Tenant’s use of the Premises, including the Exterior Areas, shall be subject and subordinate to the Underlying Documents. Landlord agrees that, except as may be required by Law, it will neither amend the
Underlying Documents existing as of the date of this Lease nor enter into any new Underlying Documents if the same shall materially adversely impact Tenant’s use of or access to the Premises or subject Tenant to any material increased cost or
expense. 
 ARTICLE 6 
 SERVICES 

6.1        Utilities Services.  Tenant shall promptly
pay, as the same become due, all charges for water, gas, electricity, telephone, sewer service, waste pick-up and any other utilities, materials and services furnished directly to or used by Tenant on or about the Premises during the Term
(collectively, “Utilities”), including, without limitation, (a) meter, use and/or connection fees, hook-up fees, or standby fees, and (b) penalties for discontinued or interrupted service, except to the extent of any
Service Interruption (as defined below) caused by Landlord or a Landlord Party. Tenant shall provide janitorial service to the Buildings at its sole cost and expense, provided that Tenant shall be responsible for all acts of such persons. At no time
shall use of electricity in the Premises exceed the capacity of existing feeders and risers to or wiring in the Premises, as the same may be modified or improved in accordance with this Lease. 

 
  

[*****] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange
Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
 12 

 6.2        Service
Interruption.    Except as otherwise expressly provided in this Lease, any interruption or cessation of Utilities resulting from any causes, including, without limitation, any entry for repairs pursuant to this Lease, and
any renovation, redecoration or rehabilitation of any area of the Project (each, a “Service Interruption”), shall not render Landlord liable for damages to either person or property or for interruption or loss to Tenant’s
business, nor be construed as an eviction of Tenant, nor work an abatement of any portion of Rent, nor relieve Tenant from fulfillment of any covenant or agreement hereof. Notwithstanding the foregoing, if the entirety of one or more Buildings, or a
material portion of one or more Buildings is made untenantable for the Permitted Use being made of the Building or inaccessible for more than the Applicable Number (defined below) of consecutive business days after written notice from Tenant to
Landlord as result of any Service Interruption that is not caused by Tenant or any Tenant Party, then Tenant, as its sole remedy, shall be entitled to receive an abatement of Monthly Rent (defined below) payable hereunder for the period beginning on
the day immediately following such Applicable Number of consecutive business days and ending on the day such Service Interruption ends. If a Service Interruption renders less than the entire Premises untenantable for the conduct of the Permitted
Uses being made of the Premises or inaccessible, the amount of Monthly Rent abated shall be prorated in proportion to the percentage of the rentable square footage of the Premises that is rendered untenantable for the conduct of the Permitted Uses
being made of the Premises or inaccessible. As used in this Section 6.3, “Applicable Number” means (i) [*****], if Landlord can correct the Service Interruption through reasonable efforts, or (ii) [*****], if
Landlord cannot correct the Service Interruption through reasonable efforts. In addition, if (1) all or a material portion of the Premises is made untenantable for the conduct of the Permitted Uses being made of the Premises or inaccessible for
[*****] consecutive days after written notice from Tenant to Landlord as a result of a Service Interruption that does not result from a casualty or other event covered by Article 11 and that Landlord can correct through reasonable efforts,
and (2) Landlord is not diligently pursuing such correction, then, unless the Service Interruption is caused by the act or omission of Tenant or any Tenant Party, the same shall constitute a default by Landlord and the provisions of
Section 19.5 below shall apply. As used herein, “Monthly Rent” means Base Rent and Tenant’s monthly installment of Direct Expenses. 
 ARTICLE 7 
 REPAIRS 

7.1        Tenant’s Obligations. 

7.1.1    Except to the extent expressly Landlord’s obligation under this Lease (including,
without limitation, under Sections 1.1.2, 7.1.4, 7.1.5, or 7.2, Articles 11, 13, or 25 and the Tenant Work Letter), Tenant shall, at its expense, perform all maintenance and repairs (including
replacement) to the Premises, to keep the Premises in good working order and in a condition reasonably consistent with Comparable Buildings (defined below), Casualties, Takings, Hazardous Substances (other than Tenant’s Hazardous Substances),
and reasonable wear and tear excepted (collectively, “Tenant’s Repair Obligations”); provided, however, that, after completion of the Tenant Improvements in accordance with the Approved Working Drawings, Tenant shall not be
required to (i) replace any portions of the Premises to comply with the foregoing obligation, unless and to the extent that such replacement is necessary to maintain such portion(s) of the Premises in a condition reasonably consistent with
comparable professionally-maintained office/R&D buildings in the vicinity of the Premises (“Comparable Buildings”) or (ii) replace or upgrade any Buildings Systems or other improvements in the Premises if such Building
Systems or improvements can otherwise be maintained in good working order and in a condition reasonably consistent with Comparable Buildings. In performing any such repair or replacement, Tenant shall comply with the requirements of Sections
8.2, 8.3 and 8.4 below as if such repair or replacement were an Alteration (defined in Section 8.1 below), including that Tenant shall cause any such repair or replacement to be performed by approved contractors, in a
good and workmanlike manner and in conformance with all applicable Laws; provided, however, that if the estimated cost of such repair or replacement is less than Seventy-Five Thousand Dollars ($75,000.00), then such repair or replacement shall, for
purposes of the foregoing, constitute a Minor Alteration (as defined in Section 8.1 below). Except to the extent made the obligation of Landlord under this Lease, Tenant’s Repair Obligations shall include: (a) floor coverings;
(b) interior partitions; (c) doors; (d) the interior side of demising walls; (e) Alterations; and (f) the heating, ventilating and air conditioning (“HVAC”) systems and equipment, the plumbing, sewer,
drainage, electrical, fire protection, elevator, escalator, life safety and security systems and equipment and other mechanical, electrical and communications systems and equipment (collectively, the “Building Systems”) that serve
the Buildings or Exterior Areas, including, without limitation, (i) any specialty or supplemental Building Systems installed by or for Tenant, and (ii) all electrical facilities and equipment, including lighting fixtures, lamps, fans and
any exhaust equipment and systems, electrical motors and all other appliances and equipment of every kind and nature, whether such items are located within or outside of any Building, and whether they are installed by or for the benefit of Tenant or
exist as of the date hereof. 
  
  

[*****] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange
Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
 13 

 7.1.2    Tenant shall also be responsible for all pest
control within the Buildings, and for all trash removal and disposal from the Buildings. With respect to all HVAC systems and equipment serving the Buildings, Tenant shall obtain HVAC systems preventive maintenance contracts with bimonthly or
monthly service in accordance with manufacturer recommendations, which shall be subject to the reasonable prior written approval of Landlord and paid for by Tenant, and which shall provide for and include replacement of filters, oiling and
lubricating of machinery, parts replacement, adjustment of drive belts, oil changes and other preventive maintenance, including annual maintenance of duct work, interior unit drains and caulking of sheet metal, and recaulking of jacks and vents on
an annual basis, and shall require that reasonably detailed written service reports be provided to Landlord and Tenant concurrently upon the completion of each bimonthly or monthly service. Tenant shall have the benefit of all warranties available
to Landlord, including those regarding the HVAC systems and other equipment, relating to the portions of the Premises for which Tenant’s Repair Obligations apply, or that would otherwise reduce the cost incurred by Tenant for performance of
Tenant’s Repair Obligations. Notwithstanding the foregoing provisions of this Section 7.1.2, if Tenant breaches its foregoing obligation to carry HVAC preventive maintenance contracts for a period of 10 business days after notice of
such failure by Landlord, Landlord may thereafter, at its option, obtain the required HVAC systems preventive maintenance contracts on Tenant’s behalf, in which case Tenant shall pay Landlord, within ten (10) days after receipt of an
invoice therefor, the cost of such work (without mark-up by Landlord). 

7.1.3    Notwithstanding the foregoing provisions of this Section 7.1, Tenant shall
notify Landlord in writing at least fifteen (15) business days prior to performing any Tenant’s Repair Obligation (a) that materially affects any Building Systems, the Base Building or the Exterior Areas, or (b) that constitutes
a Capital Repair (as defined in Section 7.1.4 below), provided that in the event of an emergency, Tenant shall only be required to provide such notice as is reasonable under the circumstances. Upon receipt of such notice from Tenant,
Landlord shall have the right to consult with Tenant prior to such work being performed by Tenant in order to ensure that such Tenant’s Repair Obligation shall be performed in accordance with the requirements of this Lease and in a manner
consistent with the standards followed by owners and property managers of office/R&D projects substantially similar to, and in the vicinity of, the Project, as reasonably determined by Landlord. If Tenant fails to commence any Tenant’s
Repair Obligation within a reasonable time period specified by Landlord (provided that Tenant shall have at least fifteen (15) business days to commence any such repair or replacement, except in the event of an emergency, in which event Tenant
shall promptly commence such repair or replacement) or fails to thereafter diligently pursue the completion of such Tenant’s Repair Obligation, then Landlord may, but need not, following delivery of notice to Tenant of such election and the
continuance of such failure by Tenant beyond the applicable cure period, make or complete such Tenant’s Repair Obligation, in which event Tenant shall pay Landlord the cost of such work, plus a reasonable percentage of the cost thereof (not to
exceed 10%) sufficient to reimburse Landlord for all overhead, general conditions, fees and other costs or expenses arising from Landlord’s involvement with such repairs and replacements, and Tenant shall pay Landlord the cost thereof within
thirty (30) days after receipt of an invoice therefor. 
 7.1.4    Notwithstanding the
provisions of Section 7.1.1 above to the contrary, if, at any time during the Lease Term, any capital repairs, replacements or improvements (as determined in accordance with GAAP) (“Capital Repairs”) are required to be
made to the Building Systems (excluding any specialty or supplemental Building Systems or any other equipment or facilities relating to the particular use or manner of use of the Premises, including any equipment or facilities serving a computer
server room, “clean room” or laboratory space) the cost of which shall exceed Seventy-Five Thousand Dollars ($75,000.00), then, upon request by Tenant, unless such repairs, replacements or improvements are required by the negligence or
willful misconduct of Tenant or any Tenant Parties, or any Alterations to the Premises made by or on behalf of Tenant or any Transferee, (a) Landlord shall perform such repairs or replacements, (b) Tenant shall pay the first Seventy-Five
Thousand Dollars ($75,000.00) of costs relating thereto, and (c) the remainder of such costs shall be paid by Landlord, subject, however, to the following: Tenant shall pay to Landlord, as Additional Rent, the portion of the cost of such
repairs, replacements or improvements allocable to the remaining Term (including any Extension Term), which portion shall be determined by amortizing the cost of the repairs, replacements or improvements on a straight-line basis over the useful life
thereof (as Landlord shall reasonably determine in accordance with GAAP), either (A) in cash upon demand or (B) in equal monthly installments with Base Rent over the remaining Term (including any Extension Term), together with interest on
such amortized amount calculated at the lesser of (i) eight percent (8%) per annum or (ii) the maximum legal rate of interest allowed by the State of California. 

7.1.5    Notwithstanding the foregoing provisions of this Section 7.1 to the contrary,
and notwithstanding Section 10.5 below, Landlord shall perform, and Tenant shall have no responsibility to perform and Expenses shall not include, any repairs or replacements made necessary solely by the negligence or willful misconduct
of Landlord or any Landlord Party; provided, however, that, if such work is covered by Tenant’s insurance (or the insurance required to be carried by Tenant hereunder), Landlord shall only be obligated to pay any deductible in connection
therewith and Tenant shall assign to Landlord (or to any party designated by Landlord) all insurance proceeds payable to Tenant under Tenant’s property insurance required under Section 10.3 below attributable to such repairs.

  
 14 

 7.2        Landlord’s
Obligations. 
 7.2.1    Landlord shall maintain, repair and replace the following
items (together with the work to be performed by Landlord under Sections 1.1.2, 7.1.4, 7.1.5, or 7.2, and Articles 11, 13, or 25 herein the “Landlord’s Repair Obligations”):
(a) the non-structural portions of the roofs of the Buildings, including the roof coverings in a water-tight condition, and otherwise reasonably consistent with Comparable Buildings; (b) the Exterior Areas of the Project, including,
without limitation, the Parking Facilities, pavement, landscaping, sprinkler systems, sidewalks, driveways, curbs, lighting systems and other facilities, systems, equipment and improvements in or serving the Exterior Areas in a condition reasonably
consistent with the exterior areas surrounding Comparable Buildings, and (c) routine repair and maintenance of the load bearing and exterior walls of the Buildings, including, without limitation, any painting, sealing, patching and
waterproofing of such walls, in a condition reasonably consistent with Comparable Buildings. 

7.2.2    Landlord, at its own cost and expense (except as expressly provided in this Lease to the
contrary, including in Section 4.2.2 and Section 7.2.3), agrees to repair and maintain the structural portions of the roof (specifically excluding the roof coverings), the foundation, the footings, the floor slab and the load
bearing walls and exterior walls of the Buildings (excluding any glass and any routine maintenance, such as painting, sealing, patching and waterproofing of such walls, which maintenance work shall be included in Landlord’s Repair Obligations
and recoverable as a Direct Expense) (collectively, the “Base Building”) in a condition reasonably consistent with Comparable Buildings. 
 7.2.3    Notwithstanding Section 10.5 below, to the extent any such maintenance, repair or replacement described in this Section 7.2 is made necessary by the
negligence or willful misconduct of Tenant or any Tenant Party, Tenant shall pay to Landlord the reasonable cost of such work, including a percentage of the cost thereof (not to exceed 10%) sufficient to reimburse Landlord for all overhead, general
conditions, fees and other costs or expenses arising from Landlord’s involvement with such repairs and replacements, directly (and not as a Direct Expense) within ten (10) days after receipt of an invoice therefor; provided, however, that,
if such work is covered by Landlord’s insurance (or the insurance required to be carried by Landlord hereunder), Tenant shall only be obligated to pay any deductible in connection therewith. 

7.3        Waiver.    Tenant hereby waives any
rights under subsection 1 of Section 1932 and Sections 1941 and 1942 of the California Civil Code or under any similar Law. 
 ARTICLE 8 
 ADDITIONS AND ALTERATIONS 

8.1        Landlord’s Consent to
Alterations.    Except for the Tenant Improvements (which shall be governed by the terms of the Tenant Work Letter), Tenant may not make any improvements, alterations, additions or changes to the Premises or to any
mechanical, plumbing or HVAC facilities or other systems serving the Premises (collectively, “Alterations”) without Landlord’s prior written consent, which consent shall be requested by Tenant not less than 30 days before
commencement of work (except in the event of an emergency, in which case Tenant shall provide such advance notice of the need for the Alteration as is reasonable under the circumstances). Such Landlord consent shall not be unreasonably withheld,
conditioned, or delayed, provided that it shall be deemed reasonable for Landlord to withhold its consent to any Alteration that would materially and adversely affect the Base Building or any Building Systems (“Adverse
Alterations”). Notwithstanding the foregoing and any provisions of Section 8.1 to the contrary, Tenant shall be permitted to make interior, cosmetic or decorative, non-structural Alterations without Landlord’s prior
consent, provided that such Alterations (a) cost less than Two Hundred Thousand Dollars ($200,000.00) per project in any one Building, nor, in the case of any multi-Building project, more than Five Hundred Thousand Dollars ($500,000.00) in the
aggregate, (b) do not constitute Adverse Alterations hereunder, and (c) prior to commencing any such Alterations, Tenant provides Landlord with not less than ten (10) business days’ prior written notice thereof and a copy of any
governmental permits required for such Alterations (“Minor Alterations”). 

8.2        Manner of Construction.    Landlord
may impose reasonable conditions to its consent to any Alteration. Without limiting the foregoing, before commencing any Alteration (other than a Minor Alteration), Tenant shall deliver to Landlord, and obtain Landlord’s written approval of,
each of the following items (to the extent applicable): plans and specifications (including any changes thereto); names of contractors, and, if requested by Landlord, the names of material subcontractors, mechanics, laborers and materialmen;
required building permits; and evidence of the insurance required under Section 8.4 below. Tenant shall perform any Alteration in a good and workmanlike manner, using materials of a quality reasonably approved by Landlord or comparable
to existing improvements, and in conformance with all applicable Laws and the National Electrical Code and Landlord’s contractor’s rules and regulations attached hereto as Exhibit B-3 (“Landlord’s Construction
Rules”). Without limiting the foregoing, if, as a result of Tenant’s performance of any Alteration, Landlord becomes required under 

  
 15 

 
applicable Law to perform any inspection or give any notice relating to the Premises or such Alteration, or to ensure that such Alteration is performed in any particular manner, Tenant shall
comply with such requirement on Landlord’s behalf and promptly thereafter provide Landlord with reasonable documentation of such compliance. Tenant shall ensure that no Alteration impairs any Building Systems or Landlord’s ability to
perform its obligations hereunder. Landlord may, in its discretion, require Tenant to obtain a lien and completion bond, or to provide alternate form of security or evidence of the ability to pay, reasonably satisfactory to Landlord in an amount
sufficient to ensure the lien-free completion of the work and, as appropriate, naming Landlord as a co-obligee. Before commencing any Alteration (except for Minor Alterations), Tenant shall meet with Landlord to discuss Landlord’s design
parameters and any code compliance issues. Upon completion of any Alteration (except for Minor Alterations), Tenant shall cause a Notice of Completion to be recorded in the office of the recorder of the county in which the Project is located in
accordance with Section 3093 of the Civil Code of the State of California or any successor Law. Tenant shall deliver to Landlord reproducible copies of the “as built” drawings of each Alteration (in CAD format, if requested by
Landlord), as well as all related governmental permits, approvals and other documents reasonably requested by Landlord. 
 8.3        Payment for Alterations.    For any Alteration, Tenant shall pay Landlord within ten (10) days following demand
(a) Landlord’s reasonable out-of-pocket expenses incurred in reviewing such work; and (b) except for Minor Alterations, a fee for Landlord’s oversight and coordination of such work equal to 1.5% of its cost. Tenant shall, to the
extent reasonably required by Landlord, condition payment to its contractors for any Alterations upon receipt of final lien releases and waivers (or such other alternative protection from mechanics’ liens as shall be reasonably acceptable to
Landlord). 
 8.4         Construction
Insurance.    Tenant shall carry “Builder’s All Risk” insurance in an amount approved by Landlord covering the construction of any Alteration (exclusive of Minor Alterations). All Alterations shall be
insured by Tenant pursuant to Article 10 below immediately upon completion thereof. 

8.5        Landlord’s Property.    All
improvements in and to the Premises, including any Tenant Improvements and Alterations, shall become the property of Landlord upon installation and without compensation to Tenant (subject to Tenant’s right to use and depreciate [to the extent
paid for by Tenant] the same during the Lease Term), except that Tenant may remove any Tenant’s Property that Tenant can substantiate to Landlord have not been paid for with the Allowance provided to Tenant by Landlord, provided that Tenant
repairs any damage caused by such removal and returns the affected portion of the Premises to, at Tenant’s election either (a) the configuration shown on the Approved Construction Drawings or (b) a “Standard Office/R&D
Configuration”, which, for purposes of this Lease, means a drop ceiling open-office environment with materials and finishes consistent, as reasonably determined by Landlord, with the general office improvements located in the remainder of
the Building or, if there are no general office improvements located in the remainder of the Building, then such materials and finishes must be consistent with the general office improvements located in other buildings in the Project.
Notwithstanding the foregoing, unless otherwise instructed by Landlord in writing before the expiration or earlier termination of this Lease, Tenant shall, at its expense, (a) remove any Tenant Specialized Improvements and Alterations (other
than Alterations which Landlord has previously agreed in writing may be surrendered), (b) repair any damage to the Buildings or other portions of the Project caused by such removal, and (c) restore the affected portion of the Buildings to
its condition existing before the installation of such Tenant Specialized Improvements or such Alterations; provided, however, that, except to the extent any Lines are shown as part of the Tenant Improvements on the Approved Space Plan attached
hereto as Exhibit B-2 (the removal of which shall be governed by Section 30.28 below), Tenant shall have no obligation to remove any of the Tenant Improvements shown on such Approved Space Plan; and provided, further,
that with respect to any Tenant Specialized Improvements installed in the Premises pursuant to the Tenant Work Letter, Tenant shall restore the affected portion of the Premises to a Standard Office/R&D Configuration. If Tenant’s request for
Landlord’s approval of any proposed Alterations contains a request (or if at any other time Tenant requests) that Landlord identify any portion of such Alterations that Landlord will require Tenant to remove as provided above, then Landlord
will, at the time it approves such Alterations, or within 30 days after any other request, identify such portion of the Alterations, if any, that Landlord will require Tenant to so remove. If Tenant fails to complete the removal, repair or
restoration required by this Section 8.5 before the expiration or earlier termination of this Lease, (i) Landlord may do so and may charge the reasonable cost thereof to Tenant, and (ii) for purposes of Article 16
below, Tenant shall be deemed to be in holdover of any affected portion of the Premises without Landlord’s consent for the reasonable time required for Landlord to complete such work. Without limitation on other obligations of Tenant which
survive the expiration of the Lease Term, the obligations of Tenant contained in this Section 8.5 shall survive the expiration of the Lease Term or any earlier termination of this Lease. As used in this Lease, “Tenant Specialized
Improvements” mean any modifications to the Tenant Improvements shown on Exhibit B-2 or any Alterations that are not normal and customary general office improvements consistent with a Standard Office R&D Configuration.
Landlord and Tenant agree that, without limitation, if installed, the following Alterations will constitute Tenant Specialized Improvements: any specialty or supplemental Building Systems or other equipment or facilities relating to the use of the
Premises for purposes other than general office use, including any equipment or facilities serving a “clean room” or laboratory space; internal stairwells; 

  
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raised floors; meeting rooms (other than a customary number of conference rooms of customary size); classroom facilities; kitchens and cafeterias (as distinguished from customary kitchenette
areas); and any areas requiring floor reinforcement or enhanced systems requirements (including library, file or computer rooms if they have any such requirements). 

8.6    Tenant Work Letter. Except as expressly provided in Section 8.5
above, this Article 8 shall not apply to any Tenant Improvements constructed pursuant to the Tenant Work Letter. 

ARTICLE 9 

COVENANT AGAINST LIENS 
 Subject to Landlord’s obligation to fund the Allowance in accordance with this Lease, Tenant shall keep the Premises free from any liens or encumbrances arising out of any work performed, materials
furnished or obligations incurred by or on behalf of Tenant or any Tenant Party (exclusive of Landlord’s Work). Tenant shall give Landlord written notice at least 20 days before commencing any such work on the Premises (or such additional time
as may be necessary under applicable Laws) to afford Landlord the opportunity of posting and recording appropriate notices of non-responsibility. Tenant shall remove any such lien or encumbrance by bond or otherwise within 10 business days after
notice by Landlord, and if Tenant fails to do so, Landlord may pay the amount necessary to remove such lien or encumbrance, without responsibility for investigating the validity thereof. The amount so paid by Landlord shall be reimbursed by Tenant,
as Additional Rent, upon demand, without limiting other remedies available to Landlord under this Lease. Nothing in this Lease shall authorize Tenant to cause or permit any lien or encumbrance to affect Landlord’s interest in the Project, and
any lien or encumbrance created by, through or under Tenant shall attach to Tenant’s interest only. 
 ARTICLE 10

 INDEMNIFICATION; INSURANCE 

10.1      Indemnification and Waiver. 

10.1.1  Tenant agrees that Landlord, its partners, members and Security Holders (defined in Article 18
below), and their respective partners, members, directors, officers, agents, employees and independent contractors (including Landlord, collectively, the “Landlord Parties”) shall not be liable for, and are hereby released from any
responsibility for, any damage to person or property (or resulting from the loss of use thereof) that is sustained by Tenant or any party claiming by, through or under Tenant, including any such damage caused by any active or passive act, omission
or neglect of any Landlord Party or by any act or omission for which liability without fault or strict liability may be imposed, except only, (a) to the extent such damage is caused by the negligence or willful misconduct of any Landlord Party
or by a breach of Landlord’s obligations hereunder, whether occurring before, during, or after the expiration of the Lease Term, and, in any such event, is not covered by (e.g., exceeding the coverage limits) the insurance required to be
carried by Tenant under Section 10.3 or (b) to the extent such limitation on liability is prohibited by applicable Laws. Nothing in this Section 10.1 shall limit the provisions of Section 10.5 or
Article 21 below. 
 10.1.2  Tenant shall indemnify, defend, protect, and hold harmless
the Landlord Parties from any obligations, losses, claims, actions, liabilities, penalties, damages, costs and expenses (including reasonable attorneys’ and consultants’ fees and expenses) (“Claims”) suffered or imposed
upon or asserted against any Landlord Party in connection with or arising from (a) any cause in, on or about the Premises (including a slip and fall) covered (or required to be covered) by the insurance required of Tenant under
Section 10.3, (b) the negligence or willful misconduct of Tenant or of any person claiming by, through or under Tenant, or any of their members, partners, officers, contractors, agents, employees, invitees or licensees (each, a
“Tenant Party” and, collectively, “Tenant Parties”), or (c) any breach by Tenant of any representation, covenant or other term contained in this Lease, whether occurring before, during, or after the expiration
of the Lease Term. The foregoing indemnification shall apply regardless of any active or passive negligence of the Landlord Parties and regardless of whether liability without fault or strict liability may be imposed upon the Landlord Parties;
provided, however, that Tenant’s obligations under this Section shall be inapplicable (i) to the extent such Claims arise from the negligence or willful misconduct of any Landlord Party or from a breach of Landlord’s obligations
hereunder and, in any such event, are not covered by (e.g., exceeding the coverage limits) the insurance required to be carried by Tenant hereunder or (ii) to the extent such obligations are prohibited by applicable Laws. 

10.1.3  Landlord shall indemnify, defend, protect and hold harmless Tenant and the other Tenant Parties from
any Claims suffered or imposed upon or asserted against Tenant or such Tenant Party to the extent arising in connection with or from the negligence or willful misconduct of Landlord or other Landlord Party or from a breach of Landlord’s
obligations hereunder, whether occurring before, during, or after the expiration of the Lease Term and, in any such event, are not covered either by (e.g., exceeding 

  
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the coverage limits) the insurance required to be carried by Tenant hereunder or otherwise covered by Tenant’s indemnity obligations set forth in Section 10.1.2 above.

 10.1.4  The provisions of this Section 10.1 shall survive the expiration or sooner
termination of this Lease with respect to any Claim relating to any event or condition occurring or existing before such expiration or termination. 
 10.2        Tenant’s Compliance With Landlord’s Fire and Casualty Insurance.    Tenant, at its expense, shall comply
with all insurance company requirements pertaining to the use of the Premises. If Tenant’s conduct or use of the Premises causes any increase in the premium for such insurance policies, Tenant shall reimburse Landlord for such increase. Tenant,
at its expense, shall comply with all rules and requirements of the American Insurance Association and any similar body; provided, however, that the foregoing shall not release Landlord from its obligation to perform the Landlord’s Work or any
of Landlord’s Repair Obligations. 

10.3        Tenant’s Insurance.    Tenant
shall maintain the following coverages in the following amounts. 
 10.3.1 Commercial General Liability
Insurance covering the insured against claims of bodily injury, personal injury and property damage (including loss of use thereof) arising out of Tenant’s operations, and contractual liabilities (covering the performance by Tenant of its
indemnity agreements), including a Broad Form endorsement covering the insuring provisions of this Lease and Tenant’s indemnity obligations under Section 10.1 above, for limits of liability not less than: 

 

			
	 Bodily Injury and

Property Damage Liability
	  	 $5,000,000 each occurrence

$5,000,000 annual aggregate

		
	 Personal Injury Liability
	  	 $5,000,000 each occurrence

$5,000,000 annual aggregate

		
	 Umbrella Liability Coverage
	  	 $5,000,000 each occurrence

$5,000,000 annual aggregate
 The above limits may
be met with any
 combination of primary and excess policies

 10.3.2    Property Insurance covering (i) all office furniture,
business and trade fixtures, office equipment, free-standing cabinet work, movable partitions, merchandise and all other items of Tenant’s Property in or on the Premises, (ii) any Tenant-Specialized Improvements, and (iii) all
Alterations made to the Premises. Such insurance shall be written on a “special causes of loss form” of physical loss or damage basis, for the full replacement cost value (subject to reasonable deductible amounts), and, except for
Tenant’s Property, new without deduction for depreciation of the covered items, and in amounts that meet any co-insurance clauses of the policies of insurance, and shall include coverage for damage or other loss caused by fire or other peril,
including vandalism and malicious mischief, theft, water damage, including sprinkler leakage (but excluding damage from flood, tidal surge or similar events typically covered only by a “water exclusion endorsement”), bursting or stoppage
of pipes, and explosion. 
 10.3.3    Worker’s Compensation and Employer’s
Liability or other similar insurance to the extent required by applicable Laws. 

10.4        Form of Policies.  The minimum limits of
insurance required to be carried by Tenant shall not limit Tenant’s liability. Such insurance shall be issued by an insurance company that has an A.M. Best rating of not less than A-VIII and shall be in form and content reasonably acceptable to
Landlord. Tenant’s Commercial General Liability Insurance shall (a) name the Landlord Parties and any other party designated in writing by Landlord (“Additional Insured Parties”) as additional insureds; and (b) be
primary insurance as to all claims thereunder and provide that any insurance carried by Landlord is excess and non-contributing with Tenant’s insurance. Landlord shall be designated as a loss payee with respect to Tenant’s Property
Insurance on the Tenant-Specialized Improvements and Alterations which are not Tenant’s Property (collectively, “Tenant-Insured Improvements”). Tenant shall deliver to Landlord, on or before the Premises Delivery Date and at
least 15 days before the expiration dates thereof, certificates from Tenant’s insurance company on the forms currently designated “ACORD 25-S” (Certificate of Liability Insurance) and “ACORD 28” (Evidence of Commercial
Property Insurance) or the equivalent. Attached to the ACORD 25-S (or equivalent) there shall be an endorsement naming the Additional Insured Parties as additional insureds, and attached to the ACORD 28 (or equivalent) there shall be an endorsement
designating Landlord as a loss payee with respect to Tenant’s Property Insurance on any Tenant-Insured Improvements, and each such endorsement shall be binding on Tenant’s insurance company. Upon Landlord’s request, Tenant shall
deliver to Landlord, in lieu of such certificates, copies of the policies of insurance required to be carried under Section 10.2 showing that the Additional Insured 

  
 18 

 
Parties are named as additional insureds and that Landlord is designated as a loss payee with respect to Tenant’s Property Insurance on any Tenant-Insured Improvements. If Tenant fails to
deliver such policies or certificates, then Landlord may, at its option, procure such policies for the account of Tenant, in which event Tenant shall pay Landlord the cost thereof within five (5) days after written demand. 

10.5        Subrogation.  Notwithstanding anything to the
contrary in this Lease, each party waives, and shall cause its insurance carrier to waive, any right of recovery against the other party, any of its (direct or indirect) owners, or any of their respective beneficiaries, trustees, officers,
directors, employees or agents for any loss of or damage to property which loss or damage is (or, if the insurance required hereunder had been carried, would have been) covered by insurance. For purposes of this Section 10.5 only,
(a) any deductible with respect to a party’s insurance shall be deemed covered by, and recoverable by such party under, valid and collectable policies of insurance, and (b) any contractor retained by Landlord to install, maintain or
monitor a fire or security alarm for the Buildings shall be deemed an agent of Landlord. 

10.6        Additional Insurance Obligations.  Tenant
shall carry and maintain during the Lease Term, at its expense, the amounts of the insurance required to be carried by Tenant under this Article 10, and such other types and amounts of insurance covering the Premises and Tenant’s
operations therein, as may be reasonably requested by Landlord, but not in excess of the amounts and types of insurance then being required by landlords of buildings comparable to and in the vicinity of the Buildings. 

10.7        Landlord’s Insurance.  Subject to
reimbursement as an Expense in accordance with the provisions of Article 4 hereof, Landlord shall procure and maintain in effect throughout the Lease Term commercial general liability insurance, property insurance and/or such other types of
insurance as are normally carried by reasonably prudent owners of commercial properties substantially similar to, and in the vicinity of, the Project. Such coverages shall be in such amounts, from such companies and on such other terms and
conditions as Landlord may from time to time reasonably determine, and Landlord shall have the right, but not the obligation, to change, cancel, decrease or increase any insurance coverages in respect of the Building, add additional forms of
insurance as Landlord shall deem reasonably necessary, and/or obtain umbrella or other policies covering both the Building and other assets owned by or associated with Landlord or its affiliates, in which event the cost thereof shall be equitably
allocated; provided, however, that Landlord shall, at all times during the Lease Term, maintain “special causes of loss” (or similar) property insurance coverage on the Base Building in the amount of the full replacement value thereof as
reasonably estimated by Landlord (without deduction for depreciation), subject to reasonable deductible amounts (“Landlord’s Casualty Policy”), and loss of rents coverage for a period of not less than twelve (12) months.

 ARTICLE 11 
 DAMAGE AND DESTRUCTION 

11.1      Completion Estimate; Termination Rights. 

11.1.1  Tenant shall promptly notify Landlord of any damage to the Premises resulting from any fire or other
casualty (“Casualty”) of which Tenant is aware (“Tenant’s Casualty Notice”). With reasonable promptness after discovering the Casualty, Landlord shall provide Tenant with written notice (the “Completion
Estimate”) stating the reasonable estimate by an independent architect selected by Landlord with the approval of Tenant, which shall not be unreasonably withheld or delayed, of the date by which it is reasonably possible using standard
working methods (without the payment of overtime or other premiums), to substantially complete the Landlord Casualty Repairs (the “Landlord Restoration Date”) and the date by which it is reasonably possible for Tenant to
substantially complete any Tenant Casualty Repairs (the “Final Restoration Date”, and the difference between the Landlord Restoration Date and the Final Restoration Date is herein referred to as “Tenant’s Estimated
Restoration Period”). As used herein, (A) “Tenant Casualty Repairs” means the following, which work shall be performed by Tenant in accordance with the procedures for Alterations set forth in Article 8 of this
Lease: (i) if Tenant so elects, the repair and restoration of any Tenant Specialized Improvements or Alterations made to the Premises by Tenant prior to the date of the Casualty; or (ii) subject to Landlord’s rights pursuant to clause
(B) below, if Tenant elects not to repair or restore any such Tenant Specialized Improvements or Alterations, then Tenant Casualty Repairs shall include repair and restoration of the affected portion of the Premises to a Standard Office/R&D
Configuration; and (B) “Landlord Casualty Repairs” means the repair and restoration of the Premises, including any damaged Building and/or Exterior Areas, the Front Entrance Work (as defined in Section 4.1.2 of the
Tenant Work Letter) and the Tenant Improvements performed pursuant to the Tenant Work Letter to the condition required by Section 11.2, other than the Tenant Casualty Repairs; provided, however, that if Tenant elects not to repair or
restore any Tenant Specialized Improvements or Alterations pursuant to clause (A) above, then Landlord Casualty Repairs shall, at Landlord’s election, include the repair and restoration of any such Tenant Specialized Improvements or
Alterations, or the repair and restoration of the affected portion of the Premises to a Standard Office/R&D Configuration. 

  
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 11.1.2  If the Completion Estimate indicates that the Landlord
Casualty Repairs and Tenant Casualty Repairs (together, the “Required Casualty Repairs”) cannot be “substantially completed” (i.e., completed with the exception of “Punch List Items”, as defined in
Exhibit B) within one (1) year after the date of Tenant’s Casualty Notice (“Substantial Destruction”) (or, if the Casualty occurs during the last 12 months of the Lease Term [“End of Term
Casualty”], and the Completion Estimate indicates that the Required Casualty Repairs cannot be substantially completed within the period of time beginning on the date of the Casualty and having a duration equal to 20% of the balance of the
Term remaining on such date), then either party may terminate this Lease in its entirety or partially with respect only to any affected Building for which such Required Casualty Repairs cannot be substantially completed within one (1) year
after the date of Tenant’s Casualty Notice (or, in the case of an End of Term Casualty, within such shorter period described above), as the case may be; provided, however, that if Landlord terminates this Lease pursuant to the foregoing as a
result of an End of Term Casualty, Landlord may only terminate this Lease with respect to any affected Building for which the Required Casualty Repairs cannot be substantially completed within the period of time beginning on the date of the Casualty
and having a duration equal to 20% of the balance of the Term remaining on such date. Any such termination shall be delivered within 120 days after delivery of the Completion Estimate to Landlord and Tenant (or, in the case of an End of Term
Casualty, within twenty (20) days after delivery of the Completion Estimate to Landlord and Tenant) and shall be effective on the later of 60 days after the date of such termination notice or such longer time as is reasonably required for
Tenant to vacate the terminated Building(s) with due diligence, but subject to Force Majeure as it relates to Tenant’s ability to surrender possession of the terminated Building(s) in accordance with Article 15 below, not later than 90
days after the date of such termination notice. 
 11.1.3  If the Lease is not terminated by Landlord
or Tenant pursuant to Section 11.1.2, but (A) Landlord does not substantially complete the Landlord Casualty Repairs on or before the Outside Landlord Restoration Date (defined below), then, provided that the Casualty was not caused
by the negligence or intentional misconduct of Tenant or any Tenant Party, Tenant may terminate this Lease by notifying Landlord prior to the substantial completion of the Landlord Casualty Repairs. As used herein, “Outside Landlord
Restoration Date” means the date occurring ninety (90) days after the later of (a) the expiration of the time set forth in the Completion Estimate for Landlord Casualty Repairs, or (b) the date occurring one (1) year
after the date of Tenant’s Casualty Notice (less the number of days set forth in the Completion Estimate as the Estimated Tenant’s Restoration Period); provided, however, that the Outside Landlord Restoration Date shall be extended to the
extent any delay in the substantial completion of the Landlord Casualty Repairs is caused by (x) Tenant’s breach of its obligations under this Lease, which is not corrected within one (1) business day following delivery of email
notice of such breach to Tenant, (y) Tenant’s request for a change in any of the Landlord Casualty Repairs (any such change being subject to Landlord’s approval in its reasonable discretion and, if approved, Tenant’s payment of
any net increase in the cost of the Landlord Casualty Repairs as a consequence of such change), and (z) interference by Tenant or any Tenant Party with the performance of such Landlord Casualty Repairs which continues for one (1) business
day after delivery of email notice to Tenant. Tenant shall assign to Landlord (or to any party designated by Landlord) all insurance and other proceeds payable to Tenant under Tenant’s Property Insurance pursuant to Section 10.3
above and, if applicable, any Builder’s All Risk insurance required under Section 8.4 above or the Tenant Work Letter, with respect to Landlord Casualty Repairs. 

Notwithstanding the foregoing, if Landlord determines in good faith that it will be unable to substantially complete the
Landlord Casualty Repairs with respect to any Building on or before the Outside Landlord Restoration Date, Landlord may cease its performance of the Landlord Casualty Repairs and notify Tenant (the “Restoration Date Extension
Notice”) of such fact, which Restoration Date Extension Notice shall set forth the date on which Landlord reasonably believes such substantial completion of the Landlord Casualty Repairs will occur. Upon receiving the Restoration Date
Extension Notice, Tenant may terminate this Lease in its entirety or partially as provided in Section 11.1.3 above with respect to the Building(s) for which Landlord has determined that it will be unable to substantially complete the
Landlord Casualty Repairs on or before the Outside Landlord Restoration Date, by notifying Landlord within ten (10) business days after receiving the Restoration Date Extension Notice. If Tenant does not terminate this Lease within such ten
(10) business day period, the Outside Landlord Restoration Date automatically shall be amended to be the date set forth in the Restoration Date Extension Notice. 

11.1.4  In addition to the foregoing, Landlord may terminate this Lease in its entirety, if the reasonably
expected cost of the Landlord Casualty Repairs (the “Landlord’s Expected Repair Cost”) exceeds the Available Casualty Proceeds, as defined below (herein a “Shortfall”). As used herein “Available
Casualty Proceeds” means the net amount of the following: (a) the proceeds of Landlord’s Casualty Policy and the proceeds of any Builder’s All Risk insurance required under Section 8.4 above or the Tenant Work
Letter, plus (b) if Landlord fails to carry a Landlord’s Casualty Policy in accordance with this Lease, the proceeds that would have been received by Landlord had Landlord properly carried such policy or policies, plus
(c) if Tenant fails to carry Builder’s All Risk insurance required under Section 8.4 above or the Tenant Work Letter, such amounts as would be covered by such policy and as are received by Landlord from Tenant, plus
(d) any damages received by Landlord from any third party on account of damage to the Premises or the Tenant Improvements (herein with the amounts specified in 

  
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subparts (a), (b) and (c) of this sentence, the “Casualty Receipts”), plus (e) any applicable deductibles (other than deductibles with respect to earthquake
damage), plus (f) in the case of an earthquake, any earthquake deductibles that Tenant is required to pay pursuant to Section 4.2.2(m)(1) (herein, with the amount specified in subpart (e) of this sentence, the
“Deductibles”) plus (g) five percent (5%) of the insurable value of the Premises (“Landlord’s Casualty Responsibility”), less (h) the amount of any Casualty Receipts received by
Landlord, which a Security Holder is permitted to apply under the terms of its agreements with Landlord and, if applicable, with Tenant, and which the Security Holder does apply, to pay any mortgage debt (the “Security Holder Application
Amount”). Notwithstanding the foregoing, any notice of termination of this Lease pursuant to the preceding sentence (a “Shortfall Termination Notice”) shall set forth the amount of the Shortfall, Casualty Receipts,
Deductibles (with earthquake separately specified), Landlord’s Casualty Responsibility, and the Security Holder Application Amount, and be ineffective if (x) Tenant, within 20 business days after receiving such Shortfall Termination
Notice, notifies Landlord that Tenant agrees to pay, and provides Landlord with evidence reasonably satisfactory to Landlord of Tenant’s ability to pay, the Shortfall. If any Shortfall Termination Notice becomes ineffective because Tenant
agrees in writing to pay the Shortfall and this Lease is not otherwise terminated pursuant to this Section 11.1, then (i) Tenant, within three (3) business days after Landlord’s request (which shall not be made more
frequently than once per calendar month), shall deliver to Landlord, as Additional Rent, in addition to any amounts required to be delivered to Landlord under Section 11.2, cash in the amount of that portion of the Shortfall which is
equal to (A) the total cost of the Landlord Casualty Repairs incurred by Landlord to date of such request, multiplied by a fraction, the numerator of which is the Shortfall and the denominator of which is the Landlord’s Expected Repair
Cost, less (B) the total amount of the payments previously made by Tenant to Landlord pursuant to this sentence and (ii) if Landlord’s Expected Repair Cost is changed to reflect the actual cost of the Landlord Casualty Repairs, then
the Shortfall and the amounts payable pursuant to this sentence shall be adjusted equitably. 

11.1.5  Notwithstanding the foregoing, if the damage constitutes Substantial Destruction of one or more
Buildings, but there is at least one Building that does not sustain Substantial Destruction, then Tenant shall have the right to override Landlord’s election to terminate pursuant to this Section 11.1.4 by giving written notice to
Landlord within thirty (30) days after receipt of Landlord’s Casualty Termination Notice. In such event, this Lease shall be deemed terminated only with respect to the Building or Buildings that have sustained Substantial Destruction and
this Lease shall remain in full force and effect with respect to any remaining Buildings. In such event, the Rent shall be equitably abated based on the ratio that the rentable square footage of the remaining Buildings bears to the total rentable
square footage of all of the Buildings prior to the casualty. 
 11.1.6  In the event of any
termination by Landlord or Tenant pursuant to this Article, neither party shall have any obligations to the other under this Lease, (a) except with respect to any Building(s) for which this Lease is not terminated, (b) except for
obligations arising before such termination or obligations that survive the expiration or earlier termination of this Lease, and (c) except that Tenant shall assign to Landlord (or to any party designated by Landlord) all insurance proceeds
payable to Tenant under Tenant’s property insurance required under Section 10.3 above (and, if applicable, any Builder’s All Risk insurance required under Section 8.4 above or the Tenant Work Letter) with respect to
any Tenant Specialized Improvements and Alterations; provided, however, that, with respect to any Tenant Specialized Improvements that Tenant can substantiate to Landlord have not been paid for with the Allowance provided to Tenant by Landlord,
Tenant shall be required to assign to Landlord only such portion of the proceeds as shall be necessary to restore the affected portion of the Premises to a Standard Office/R&D Configuration. 

11.2      Repair and Restoration.    So long as this
Lease is not terminated pursuant to Section 11.1 above, Landlord shall promptly and diligently perform the Landlord Casualty Repairs, subject to reasonable delays for insurance adjustment or other events of Force Majeure (as defined in
Section 30.15). Such repair and restoration shall be to substantially the same condition that existed before the Casualty, except for any modifications required by Law and except for any modifications to the Exterior Areas that are
reasonably deemed desirable by Landlord, are consistent with the character of the Project, and do not materially impair access to any of the Buildings; provided, however, that, unless required by Law, such modifications shall be subject to
Tenant’s approval, which approval shall not be unreasonably withheld, conditioned or delayed. If this Lease is not terminated pursuant to Section 11.1 above, then (a) if the Landlord Casualty Repairs include the Alterations,
Tenant Specialized Improvements and/or repair and restoration of the affected portion of the Premises to a Standard Office/R&D Configuration, Tenant shall assign to Landlord (or to any party designated by Landlord) all insurance proceeds
applicable to such Landlord Casualty Repairs that are payable to Tenant under Tenant’s insurance required under Section 8.4, Section 10.3 or the Tenant Work Letter; and (b) if the estimated cost of repairing and
restoring such improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, Landlord shall not be required to spend more than the amount of such proceeds, provided that the foregoing shall not
relieve Tenant from the obligation to carry the property insurance required to be carried by Tenant pursuant to Section 10.3.2 above and any Builder’s All Risk insurance required under Section 8.4 above or the Tenant
Work Letter, nor shall the 

  
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foregoing limit Tenant’s liability if Tenant fails to perform such obligation. If this Lease is not terminated pursuant to Section 11.1 above, then, following substantial
completion of such Landlord Casualty Repairs, Tenant, at its expense and in accordance with Sections 8.2, 8.3 and 8.4 above, shall perform the Tenant Casualty Repairs; provided, however, that if the estimated cost of the
Tenant Casualty Repairs exceeds the amount of insurance proceeds received by Tenant from Tenant’s insurance carrier, Tenant shall not be required to spend more than the amount of such proceeds, provided that the foregoing shall not relieve
Tenant from the obligation to carry the property insurance required to be carried by Tenant pursuant to Section 10.3.2 above and any Builder’s All Risk insurance required under Section 8.4 above or the Tenant Work
Letter, nor shall the foregoing limit Tenant’s liability if Tenant fails to perform such obligation. If this Lease terminates with respect to any Buildings on account of a Casualty, then, except as otherwise expressly to be assigned to Landlord
(or to any party designated by Landlord) in this Lease, Tenant shall be entitled to retain all insurance proceeds attributable to damage to the Tenant’s Property and otherwise payable to Tenant under Tenant’s insurance required under
Section 8.4, Section 10.3 or the Tenant Work Letter with respect to such Casualty. 

11.3      Rent Abatement.    Landlord shall not be
required to repair any damage to Tenant’s Property or be liable for any inconvenience or annoyance to Tenant or its invitees, or for any injury to Tenant’s business, resulting from any Casualty or from any repair of damage resulting
therefrom performed in accordance with this Lease; provided, however, that if any Casualty damages any Building or any Exterior Area necessary for Tenant’s access to any Building, then, during any time that, as a result of such damage, any
portion of a Building is untenantable for the conduct of the Permitted Uses being made of the Building or is inaccessible, the Monthly Rent shall be abated in proportion to the rentable square footage of such affected or inaccessible portion of such
Building. If the Landlord Casualty Repairs exclude any Tenant Specialized Improvements or Alterations (or, in the event of a Casualty occurring before the Lease Commencement Date, for which Tenant shall be responsible for repair and restoration of
the Tenant Improvements and Landlord’s Work in accordance with the Tenant Work Letter), then, provided that Tenant is required to repair and restore the same as provided above or in the Tenant Work Letter, Tenant’s right to rent abatement
under the preceding sentence shall continue until the earlier to occur of (a) the date that Tenant Casualty Repairs are completed by Tenant, (b) the Final Restoration Date, or (c) the date that Tenant recommences business operations
in the damaged portion of the Premises. 
 11.4      Waiver of Statutory
Provisions.    The provisions of this Lease, including this Article 11, constitute an express agreement between Landlord and Tenant with respect to any damage to or destruction of any part of the Premises, and
any Law, including Sections 1932(2) and 1933(4) of the California Civil Code, relating to rights or obligations concerning damage or destruction in the absence of an express agreement between the parties shall not apply. 

ARTICLE 12 

NONWAIVER 
 No provision of this Lease shall be deemed waived by either party hereto unless it is expressly waived by such party in writing, and no waiver of any breach of any provision hereof shall be deemed to be a
waiver of any subsequent breach of such provision or any other provision hereof. Landlord’s acceptance of Rent shall not be deemed to be a waiver of any preceding breach by Tenant of any provision hereof, other than Tenant’s failure to pay
the particular Rent so accepted, regardless of Landlord’s knowledge of such preceding breach at the time of such acceptance. No acceptance of a lesser amount than the Rent herein stipulated shall be deemed a waiver of Landlord’s right to
receive the full amount due, nor shall any endorsement or statement on any check or payment or any letter accompanying such check or payment be deemed an accord and satisfaction, and Landlord may accept such check or payment without prejudice to
Landlord’s right to recover the full amount due. No receipt of monies by Landlord from Tenant after the giving of any notice or after the termination of this Lease shall affect such notice or reinstate or alter the length of the Lease Term or
Tenant’s right of possession hereunder. After the service of notice or the commencement of a suit, or after a final judgment for possession of the Premises, Landlord may receive and collect any Rent due, and the payment of such Rent shall not
waive or affect such notice, suit or judgment. 
 ARTICLE 13 

CONDEMNATION 
 If any part of the Premises is permanently taken for any public or quasi-public use or purpose, by power of eminent domain or by private purchase in lieu thereof (a “Taking”), then this
Lease shall terminate as to the portion of the Premises subject to the Taking, effective as of the date possession is required to be surrendered to the authority. In addition, if any part of the Premises is permanently subject to a Taking, which is
so substantial that the Premises cannot reasonably be used by Tenant for the operation of its business, then Tenant may terminate this Lease in its entirety or with respect to any 

  
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Building affected by the Taking. Any such termination by Tenant shall be effective as of the date possession is required to be surrendered to the authority, and Tenant shall provide written
notice of termination to Landlord within 90 days after Tenant first receives written notice of such surrender date. Except as provided above in this Article 13, neither party may terminate this Lease as a result of a Taking. Tenant shall not
assert any claim against Landlord or the authority for any compensation because of any Taking and Landlord shall be entitled to the entire award of compensation; provided, however, that Tenant shall have the right to file any separate claim
available to Tenant for any Taking of Tenant’s Property or any fixtures that Tenant has the right hereunder to remove upon the expiration hereof, and for moving expenses. If this Lease is terminated pursuant to this Article 13, all
Rent shall be apportioned as of the date of such termination. If a Taking occurs and this Lease is not so terminated, the Monthly Rent shall be abated, for the period of such Taking, in proportion to the percentage of the rentable square footage of
the Premises, if any, that is subject to (or rendered inaccessible by) such Taking. Tenant hereby waives any rights it might have under Section 1265.130 of The California Code of Civil Procedure. 

ARTICLE 14 

ASSIGNMENT AND SUBLETTING 
 14.1        Transfers.  Tenant shall not, without Landlord’s prior written consent, which shall not be unreasonably withheld,
conditioned or delayed, assign, mortgage, pledge, hypothecate, encumber, permit any lien to attach to, or otherwise transfer this Lease or any interest hereunder, permit any assignment or other transfer of this Lease or any interest hereunder by
operation of law, sublet any part of the Premises, enter into any license or concession agreement, or otherwise permit the occupancy or use of any part of the Premises by any persons other than Tenant and its employees and contractors (each, a
“Transfer”). If Tenant desires Landlord’s consent to any Transfer, Tenant shall provide Landlord with written notice (the “Transfer Notice”) of (i) the proposed effective date of the Transfer (the
“Contemplated Effective Date”), which shall not be less than 30 days nor more than 180 days after the effective date of the Transfer Notice, and the contemplated length of the term of the proposed Transfer, (ii) a
description of the portion of the Premises to be transferred (the “Contemplated Transfer Space”), (iii) all of the material terms of the proposed Transfer and the consideration therefor, including calculation of the Transfer
Premium (defined in Section 14.3 below), the name and address of the proposed assignee, subtenant, licensee or other occupant (“Transferee”), and a copy of all existing executed and/or proposed documentation pertaining
to the proposed Transfer, and (iv) current financial statements of the proposed Transferee (or, in the case of a Transfer described in Section 14.6 below, of the proposed new controlling party(ies)) certified by an officer, partner
or owner thereof and any other information reasonably required by Landlord in order to evaluate the proposed Transfer. Within 30 days after receiving the Transfer Notice, Landlord shall notify Tenant in writing of (a) its consent to the
proposed Transfer, (b) its refusal to consent to the proposed Transfer and its reasons therefor, or (c) its exercise of its rights under Section 14.4 below. Any Transfer made without Landlord’s prior written consent (if so
required by this Section) shall, at Landlord’s option, be void and shall, at Landlord’s option, constitute a Default (defined in Article 19 below). Tenant shall pay Landlord a fee of $1,500.00 for Landlord’s review of any
proposed Transfer, whether or not Landlord consents thereto, plus any reasonable legal fees incurred by Landlord in connection with any proposed Transfer. 
 14.2        Landlord’s Consent.  Subject to Section 14.4 below, Landlord shall not unreasonably withhold, condition or
delay its consent to any proposed Transfer; and, if Landlord does not provide written notice to Tenant approving or disapproving any proposed Transfer within 30 days after receiving a Transfer Notice containing all of the information required by
Section 14.1 above, then, if such failure by Landlord continues for five (5) business days after a second written demand from Tenant to Landlord (which demand shall specifically reference the consequences of Landlord’s failure
to so respond as provided in this Section), then the Transfer shall be deemed disapproved. Without limiting other reasonable grounds for withholding consent, it shall be deemed reasonable for Landlord to withhold consent to a proposed Transfer if:

 14.2.1  The proposed Transferee has a character or reputation that is not consistent with the
quality of the Project; or 
 14.2.2  The proposed Transferee intends to use the Contemplated
Transfer Space for purposes that are not permitted under this Lease; or 
 14.2.3  The proposed
Transferee is a governmental entity or a nonprofit organization; or 
 14.2.4  The proposed
Transferee is not a party of reasonable financial strength in light of the responsibilities to be undertaken in connection with the Transfer on the effective date of the Transfer Notice; or 

  
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 Notwithstanding anything else herein to the contrary, if Landlord consents
to any Transfer pursuant to this Section 14.2 but Tenant does not enter into such Transfer within six (6) months thereafter, such consent shall no longer apply and such Transfer shall not be permitted unless Tenant again obtains
Landlord’s consent thereto pursuant and subject to the terms of this Article 14. Notwithstanding anything to the contrary in this Lease, if Tenant claims that Landlord has unreasonably withheld its consent under this
Section 14.2 or otherwise has breached or acted unreasonably under this Article 14, its sole remedies shall be a suit for contract damages (subject to Article 21 below) or declaratory judgment and an injunction
for the relief sought, and Tenant hereby waives all other remedies, including any rights under California Civil Code Section 1995.310 and any other right at law or equity to terminate this Lease. In addition, to the extent permitted under
applicable Laws, Tenant hereby waives, on behalf of any proposed Transferee, any remedies against Landlord arising out of any unreasonable withholding of consent to a proposed Transfer or any breach of this Article 14, except for any
right to obtain a declaratory judgment or injunction for the relief sought. 

14.3      Transfer Premium. 

14.3.1 If Landlord consents to a Transfer, except as otherwise provided below, Tenant shall pay to Landlord fifty
percent (50%) of any Transfer Premium (defined below); provided, however, that, if Tenant enters into any sublease(s) of all or any portion of the 930 DeGuigne Building that is effective prior to the later of the date Tenant first occupies such
Building for the conduct of its business or the second anniversary of the Lease Commencement Date, this provision shall not apply to such sublease(s) and Tenant shall be entitled to retain one hundred percent (100%) of any Transfer Premium
relating to such sublease(s) until November 30, 2013. Tenant agrees that the timing of rent payments under any such sublease for the 930 DeGuigne Building shall be determined by Tenant and the subtenant in good faith and not in a manner
intended to minimize the Transfer Premium payable to Landlord during the period following November 30, 2013. As used herein, “Transfer Premium” means (i)(a) in the case of an assignment, any consideration (including
payment for leasehold improvements) paid by the assignee in consideration of such assignment; and (b) in the case of a sublease, license, concession or other occupancy agreement, the amount by which all rent and other consideration paid by the
Transferee to Tenant for use and occupancy of the Premises pursuant to such agreement (excluding any payments by the Transferee to Tenant of the fair market value for services rendered by Tenant to Transferee pursuant to the Transfer documents or
for Tenant’s Property transferred by Tenant to Transferee in connection with such Transfer and also excluding any “Transferee Liability Payments”, as defined below) (in either such case, “Tenant’s Transfer
Consideration”), exceeds (ii) the sum of (x) the Monthly Rent payable by Tenant hereunder with respect to the Contemplated Transfer Space for the term of such agreement, plus (y) the amount of the Recoverable Expenses (as
defined below) relating to such Transfer; provided, however, that, in the case of a sublease, license, concession or other occupancy agreement, Tenant’s Improvement Expenses (as defined below) relating to any Transfer shall be amortized on a
straight line basis, without interest, over the term of such agreement. For purposes hereof, “Transferee Liability Payments” means payments made by the Transferee to Tenant for repairs, replacements or improvements, or as a result
of any Claims, arising from the negligence or willful misconduct of the Transferee or any sums paid by the Transferee to Tenant pursuant to the Transferee’s indemnity obligations under the Transfer documentation, including any environmental
indemnity obligations. 
 14.3.2 As used in this Lease, the “Recoverable Expenses”
relating to any Transfer means, collectively, the following: (a) any brokerage commissions and reasonable attorneys’ and professional fees paid by Tenant in connection with the Transfer (“Leasing Expenses”); (b) the
cost of any Tenant Improvements or Alterations paid for by Tenant (i.e., not funded by the Allowance in the Tenant Work Letter) made specifically to ready the Premises, or any portion thereof, for occupancy by the Transferee; and (c) in
the case of the 930 DeGuigne Building, the cost of Tenant Improvements and Alterations made by Tenant in or for the 930 DeGuigne Building (“930 DeGuigne Initial Improvements”) not funded by the Allowance in the Tenant Work Letter.
The Recoverable Expenses described in clauses (b) and (c) above for a particular Transfer are herein referred to as the “Improvement Expenses” and shall be amortized over the term of the Transfer. 

14.3.3 In the case of a sublease, license, concession or other occupancy agreement, and notwithstanding the
provisions of Section 14.3.1 to the contrary, commencing on the first day of the month during which (a) Tenant’s Transfer Consideration from the particular Transfer exceeds (b) the Leasing Expenses relating to the
Transfer, plus the then amortized amount of the Improvement Expenses relating to such Transfer (but, in the case of any sublease of the 930 DeGuigne Building, not sooner than the second anniversary of the Lease Commencement Date), and continuing on
the first day of each succeeding month during the term of such agreement, Transferee shall pay directly to Landlord fifty percent (50%) of the amount by which (1) Tenant’s Transfer Consideration received for such month exceeds
(2) the sum of (i) the Monthly Rent payable by Tenant under this Lease with respect to the Contemplated Transfer Space for such month, plus (ii) the amortized amount of the Improvement Expenses relating to such Transfer that are
allocated to such month, plus (iii) any other sums paid by Tenant to Landlord for the use and occupancy of the Contemplated Transfer Space pursuant to this Lease for such month, such as payments for Capital Repairs pursuant to
Section 7.1.4 or payments for 

  
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Alterations to comply with Laws pursuant Section 25.1.2 (any such payments described in this clause (iii) are herein referred to as “Additional Rent Payments”),
but Additional Rent Payments shall exclude any sums paid to Landlord pursuant to this Lease for repairs, replacements or improvements, or as a result of any Claims, to the extent arising from the negligence or willful misconduct of Tenant or any
Tenant Parties (other than the Transferee, unless such sums are reasonably recoverable by Tenant from the Transferee) or any sums paid to Landlord pursuant to Tenant’s indemnity obligations hereunder, including Tenant’s Environmental
Indemnity (except to the extent such indemnity obligations arise from the acts or omissions of the Transferee and such sums paid by Tenant are not reasonably recoverable by Tenant from the Transferee) (any such Additional Rent Payments shall be
calculated, if such Additional Rent Payments also affect other space in the Building or Project, on a per rentable square foot or other equitable basis under the circumstances); provided, however, that if the foregoing formula (ignoring for this
purpose only the amortized amount of the Improvement Expenses) results in a negative number for any month, any such negative amount shall be carried over and applied to reduce the amounts owing under the formula in successive months. In the case of
an assignment, Tenant and the assignee shall be jointly and severally liable for payment of any Transfer Premium. 
 14.3.4 Upon Landlord’s request, Tenant shall provide Landlord with reasonable documentation of Tenant’s calculation of the Transfer Premium. Landlord or its authorized representatives shall have
the right, at all reasonable times, to audit the books, records and papers of Tenant relating to a Transfer, and shall have the right to make copies thereof. If the Transfer Premium is found to be understated, Tenant shall pay the deficiency within
10 days after demand, and if the Transfer Premium is understated by more than 5%, Tenant shall pay Landlord’s costs of such audit. 
 14.4      Landlord’s Option to Recapture.    Notwithstanding anything to the contrary in this Article 14, except in the
case of a Permitted Transfer (defined in Section 14.8 below), if Tenant proposes any Transfer affecting the entirety of the Premises for a term that is effective during the final twelve (12) months of the Lease Term, then Landlord
shall have the option, in lieu of consenting to a proposed Transfer, to recapture the Premises by giving written notice to Tenant within 30 days after receiving the Transfer Notice. Such recapture shall automatically terminate this Lease as of
the Contemplated Effective Date. 
 14.5      Effect of
Consent.    If Landlord consents to a Transfer, (i) the terms and conditions of this Lease shall not be deemed to have been waived or modified, (ii) such consent shall not be deemed a consent to any further
Transfer by Tenant or any transferee, (iii) Tenant shall deliver to Landlord, promptly after execution, an original executed copy of all documentation pertaining to the Transfer in form reasonably acceptable to Landlord, (iv) Tenant shall
furnish, upon Landlord’s request, a complete statement, certified by an independent certified public accountant or Tenant’s chief financial officer, setting forth in detail the computation of any Transfer Premium resulting from such
Transfer; and (v) such consent shall, so long as the Transferee waives, for itself, its (direct or indirect) owners, the respective beneficiaries, trustees, officers, directors, employees or agents of the Transferee and such Transferee owners,
and its Casualty insurance carrier, any right of recovery against Landlord, Landlord’s (direct or indirect) owners, or any of the respective beneficiaries, trustees, officers, directors, employees or agents of Landlord and such landlord owners
consistent with the waiver made by Tenant pursuant to Section 10.5 above, Landlord shall waive, and shall cause its insurance carrier to waive, any such right of recovery against the Transferee, and any of Transferee’s (direct or
indirect) owners, or any of their respective beneficiaries, trustees, officers, directors, employees or agents. In the case of an assignment, the assignee shall assume in writing, for Landlord’s benefit, all obligations of Tenant under this
Lease. No Transfer, whether with or without Landlord’s consent, shall relieve Tenant or any guarantor of this Lease from any liability under this Lease. If this Lease is guaranteed by a third party, Landlord’s consent to any Transfer shall
not be effective unless any guarantor of this Lease also consents to such Transfer in writing. 

14.6      Additional Transfers.    For purposes of this
Lease, the term “Transfer” shall also include (a) if Tenant is a closely held professional service firm, the withdrawal (whether voluntary, involuntary or by operation of law) of equity owners holding 25% or more of the equity
interests in the entity within a 12-month period; and (b) in all other cases, any transaction(s) (a “Change of Control”) resulting in the acquisition of a Controlling Interest (defined below) by one or more parties, none of
which, alone or together with other parties, owned a Controlling Interest immediately before such transaction(s). As used herein, “Controlling Interest” means any direct or indirect equity or beneficial ownership interest in Tenant
that confers upon its holder(s) the power to control Tenant. As used in this Article 14, “control” means, with respect to any party, the direct or indirect power to direct the ordinary management and policies of such party,
whether through the ownership of voting securities, by contract or otherwise (but not through the ownership of voting securities listed on a recognized securities exchange). Notwithstanding anything to the contrary in this Lease, neither a Transfer
nor a “Change of Control” shall be deemed to have occurred as a consequence of any issuance or transfer of stock in a public exchange, or in connection with any public financing to Tenant. 

  
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 14.7      Occurrence of
Default.    Any sublease, license, concession or other occupancy agreement entered into by Tenant shall be subordinate and subject to the provisions of this Lease, and if this Lease is terminated during the term of any
such agreement, Landlord shall have the right to: (i) treat such agreement as cancelled and repossess the Contemplated Transfer Space by any lawful means, or (ii) require that the transferee attorn to and recognize Landlord as its landlord
(or licensor, as applicable) under such agreement. If and so long as Tenant is in Default, Landlord is irrevocably authorized, as Tenant’s agent and attorney-in-fact, to direct any transferee under any such agreement to make all payments under
such agreement directly to Landlord (which Landlord shall apply towards Tenant’s obligations under this Lease) until such Default is cured. Such transferee shall rely on any representation by Landlord that Tenant is in Default, without any need
for confirmation thereof by Tenant. No collection or acceptance of rent by Landlord from any transferee shall be deemed a waiver of any provision of this Article 14, an approval of any transferee, or a release of Tenant from any
obligation under this Lease, whenever accruing (except for the obligation to make the payments so received by Landlord). In no event shall Landlord’s enforcement of any provision of this Lease against any transferee be deemed a waiver of
Landlord’s right to enforce any term of this Lease against Tenant or any other person. 

14.8      Permitted Transfers.    Notwithstanding
anything to the contrary in this Article 14, Tenant may, without Landlord’s prior written consent pursuant to Section 14.1 above, (1) permit a Change of Control to occur, (2) sublet all or any portion of the
Premises to an Affiliate of Tenant or assign this Lease to any of the following (a “Permitted Transferee”): (a) an Affiliate of Tenant, (b) a successor to Tenant by merger, non-bankruptcy reorganization, or consolidation,
or (c) a successor to Tenant by purchase of all or substantially all of Tenant’s assets or Tenant’s capital stock (a “Permitted Transfer”), provided that (i) at least 10 business days before the Transfer (or
if Tenant is bound to keep the transaction confidential within 3 business days after announcement of the Transfer), Tenant notifies Landlord of such Transfer and supplies Landlord with any documents or information reasonably requested by Landlord
relating thereto, including reasonable documentation that the Transfer satisfies the requirements of this Section 14.8, (ii) in the case of an assignment pursuant to clause (a) or (c) above, the assignee executes and
delivers to Landlord a commercially reasonable instrument pursuant to which the assignee assumes, for Landlord’s benefit, all of Tenant’s obligations under this Lease; (iii) in the case of an assignment pursuant to clause
(b) above or any Change of Control, (A) the successor entity (including Tenant, following a “reverse triangular merger” or other similar transaction), has a net worth (computed in accordance with generally accepted accounting
principles) immediately after the Transfer that is not less than the Net Worth Requirement (as defined below), and (B) if Tenant before the Transfer is a closely held professional service firm, at least 75% of the equity interests in the
entity immediately after the Transfer are held by persons who held at least 75% of the equity interests in the entity one year prior to the date of the Transfer; (iv) except in the case of a Change of Control, the Transferee is qualified to
conduct business in the State of California immediately upon the Transfer, (v) in the case of a Change of Control, the Tenant under the Lease immediately after the Change of Control meets the Net Worth Requirement; (vi) any such proposed
Transfer is made in good faith and not, whether in a single transaction or in a series of transactions, as a subterfuge to evade the obligations and restrictions relating to Transfers set forth in this Article 14, and (vii) any Default
by Tenant under this Lease is cured concurrently with the consummation of the closing of the Permitted Transfer. As used herein, “Affiliate” means, with respect to any party, a person or entity that controls, is under common control
with, or is controlled by such party. For purposes hereof, the “Net Worth Requirement” shall be deemed satisfied if, as of the date immediately after the Transfer or Change of Control, the Tenant under this Lease meets one of the
following criteria: (x) a Moody’s credit rating of not less than Aa3 and a Standard & Poor’s credit rating of not less than AA- (provided that the possession of one such agency rating shall be sufficient if there exists no
applicable rating by the other agency); or (y) a Net Worth at least equal to the Net Worth of the Tenant immediately prior to the Transfer or Change of Control. 
 ARTICLE 15 
 SURRENDER OF PREMISES; 

REMOVAL OF PERSONAL PROPERTY AND TRADE FIXTURES 

15.1      Surrender of Premises.    No act or omission by
any Landlord Party during the Lease Term, including acceptance of keys to the Premises, shall be deemed an acceptance by Landlord of a surrender of the Premises unless such intent is specifically acknowledged in writing by Landlord. Upon the
expiration or earlier termination of this Lease, Tenant shall, subject to the provisions of Section 8.5 above and this Article 15, quit and surrender possession of the Premises to Landlord with all of Tenant’s Repair
Obligations performed in accordance with the provisions of Section 7.1 above, all of “Tenant’s Compliance Obligations” performed in accordance with the provisions of Section 25.1 below and otherwise in the
condition required by Section 25.2.6 below (collectively, the “Required Repair and Surrender Condition”). Without limiting the generality of the foregoing, upon surrender of the Premises, Tenant shall, at Tenant’s
sole cost and expense, have performed (or caused to be performed) the following to Landlord’s reasonable satisfaction: (a) all interior walls of the Buildings shall, if marked or damaged, be repaired to the Required Repair and Surrender
Condition, (b) all carpets shall be shampooed 

  
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and cleaned, and all floors cleaned and waxed, (c) all broken, marred or nonconforming acoustical ceiling tiles shall be replaced so as to conform to the Required Repair and Surrender
Condition, and (d) the Building Systems and lighting shall be in the Required Repair and Surrender Condition, including any burned out or broken light bulbs or ballasts replaced as required to place them in the Required Surrender Condition,
and, unless and to the extent such obligations have then been assumed by Landlord pursuant to Section 7.1.2 above, Tenant shall have caused to be performed, at Tenant’s sole cost and expense, all such Building Systems, including all
HVAC equipment, to be audited by a reputable and licensed service firm reasonably acceptable to Landlord to confirm that it is in the Required Repair and Surrender Condition. If Tenant fails to surrender possession of the Premises to Landlord in
accordance with this Section 15.1, then, in addition to all of Landlord’s other rights and remedies, Landlord may, but need not, perform the required repairs, replacements and other work in and to the Premises, and Tenant shall pay
Landlord the cost thereof, including a fee for Landlord’s oversight and coordination of such work equal to 10% of its cost, within twenty (20) days after receipt of an invoice therefor. 

15.2      Removal of Property.  Not later than the expiration or
earlier termination of this Lease, Tenant shall, without expense to Landlord, (i) cause to be removed from the Premises all items that Tenant elects to remove and is permitted to remove and all other items that Tenant is required to remove
under the terms of Section 8.5, and all Lines (defined in Section 30.28 below), except for any Lines not required to be removed under Section 30.28 below), and (ii) repair all damage to the Premises resulting
from such removal. If Tenant fails to timely perform such removal and repair, then (a) Landlord may do so and charge the costs thereof (including storage costs) to Tenant, and (b) for purposes of Article 16 below, Tenant shall
be deemed to be in holdover of any Building not surrendered to Landlord in the Required Repair and Surrender Condition, until such removal and repair is complete. If Tenant fails to remove such property from the Premises, or from storage, within 30
days after notice from Landlord, Landlord may deem all or any part of such property to be, at Landlord’s option, either (x) conveyed to Landlord without compensation, or (y) abandoned; provided, however, that if and so long as Tenant
diligently commences to remove such property from the Premises, or from storage, within such 30-day period and thereafter diligently proceeds to complete such removal, then such 30-day period shall be extended for an additional ten
(10) business days. 
 15.3      Survival.  Without
limitation on other obligations of Tenant which survive the expiration of the Lease Term, the obligations of Tenant contained in this Article 15 shall survive the expiration of the Lease Term or any earlier termination of this Lease.

 ARTICLE 16 
 HOLDING OVER 
 If Tenant fails to surrender any Building,
or portion of any Building, upon the expiration or earlier termination of this Lease, such tenancy shall be subject to all of the terms and conditions hereof; provided, however, that, at the election of Landlord, such tenancy shall be a tenancy at
sufferance or a tenancy from month-to-month (terminable by either party by delivery of 15 days written notice), with respect to the entirety of such unsurrendered Building(s) only and shall not constitute a renewal hereof or an extension for any
further term, and Tenant shall pay Base Rent for such unsurrendered Building(s) at a monthly rate equal to (a) for the [*****] of such holding over, [*****] applicable during the last calendar month of the Lease Term; and (b) [*****]
applicable during the last calendar month of the Lease Term (or such other rate as Landlord and Tenant may mutually agree in their sole discretion). Nothing in this Article 16 shall be construed as consent by Landlord to any holding over by
Tenant, and Landlord reserves the right to require Tenant to surrender possession of the Premises to Landlord as provided in this Lease upon the expiration or earlier termination of this Lease. The provisions of this Article 16 shall not be
deemed to limit or waive any other rights or remedies of Landlord provided herein or at Law. If Landlord is unable to deliver possession of the Premises, or any portion thereof, to a new tenant or to perform improvements for a new tenant as a result
of Tenant’s holdover in any portion of the Premises, Tenant shall be liable for all damages, including lost profits, that Landlord incurs as a result of the holdover. 
 ARTICLE 17 
 ESTOPPEL CERTIFICATES; FINANCIAL STATEMENTS 

Within 15 business days after Landlord’s written request, Tenant shall execute and deliver to Landlord’s
prospective lenders and transferees, and within 15 business days after Tenant’s written request, Landlord shall execute and deliver to Tenant’s prospective lenders and transferees, a commercially reasonable estoppel certificate in favor of
such third parties as the requesting party may reasonably designate, including current and prospective Security Holders and prospective purchasers. Such estoppel 

 
 [*****]
Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
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certificate may contain, without limitation, a statement (i) that this Lease, as amended to date, is in full force and effect; (ii) that Tenant is paying Rent on a current basis;
(iii) as to the existence, to the responding party’s knowledge, of any defaults by the other party, rights to offset against Rent, or claims against the other party; (iv) of the Lease Commencement Date and the Lease Expiration Date;
(v) of the amount of Base Rent that is due and payable; (vi) of the amounts of Tenant’s Estimated Direct Expenses; (vii) of the status of any improvements or repairs required to be completed by Landlord or Tenant in the Premises;
and (viii) of the amount of any Security Deposit and/or any Letter of Credit. Upon delivery (or deemed delivery) of an estoppel certificate, the responding party shall be estopped from asserting a contrary fact or claim against the party(ies)
to whom such estoppel certificate is addressed that is inconsistent with the matters addressed in the estoppel certificate, and such recipient party(ies) may rely upon the statements made in such estoppel certificate. Upon Landlord’s request at
any time during the Lease Term, if Tenant is not a public reporting company, Tenant shall provide to Landlord, for Tenant’s current fiscal year and the two (2) preceding fiscal years, its best available financial statements and, if
consistent with Tenant’s normal practice, audited by an independent certified public accountant. Landlord shall exercise commercially reasonable efforts to keep all such financial statements confidential, provided that Landlord may disclose the
same to existing or prospective lenders, investors, partners, purchasers or other persons reasonably having a need to review such financial statements who agree in writing to keep such statements confidential in accordance with this Section.

 ARTICLE 18 
 SUBORDINATION 
 This Lease shall be subject and subordinate
to all ground or underlying leases, mortgages, trust deeds and other encumbrances now or hereafter in force against the Buildings or Project, any loan document secured by any of the foregoing (a “Loan Document”), all renewals,
extensions, modifications, supplements, consolidations and replacements thereof (each, a “Security Agreement”), and all advances made upon the security of such mortgages or trust deeds, unless in each case the holder of such
Security Agreement (each, a “Security Holder”) requires in writing that this Lease be superior thereto; provided, however, that such subordination shall not be effective with respect to any future Security Agreement, unless and
until the Security Holder of such Security Interest delivers a subordination, non-disturbance and attornment agreement (“SNDA”) from the applicable Security Holder, which SNDA shall provide commercially reasonable protections for
Tenant comparable in all material respects to those set forth in the Initial SNDA. In the event of the enforcement by any Security Holder of any remedy under any Security Agreement or Loan Document, Tenant shall, attorn to the Security Holder or to
such person or entity and shall recognize the Security Holder or such successor in the interest as Landlord under this Lease without change in the provisions hereof, provided that such party has delivered a SNDA to Tenant as provided above and
agrees not to disturb Tenant’s occupancy so long as Tenant timely pays the Rent and otherwise performs its obligations hereunder. In no event shall any such Security Holder or successor in interest be liable for or bound by (i) any payment
of an installment of Rent or Additional Rent which may have been made more than thirty (30) days before the due date of such installment, (ii) any act or omission of or default by Landlord under the Lease (but the Security Holder, or such
successor, shall be subject to the continuing obligations of Landlord to the extent arising from and after such succession to the extent of the Security Holder’s, or such successor’s, interest in the Project), or (iii) any credits,
claims, setoffs or defenses which Tenant may exist against Landlord. Landlord’s interest herein may be assigned as security at any time to any Security Holder. Tenant shall, within 10 days of request by Landlord, any Security Holder or
other successor in interest, execute such further instruments as such party may reasonably deem necessary to evidence or confirm the subordination or superiority of this Lease to any Security Agreement, and/or any such attornment pursuant to this
Section. Tenant hereby waives any right it may have under Law to terminate or otherwise adversely affect this Lease or Tenant’s obligations hereunder in the event of any foreclosure. 

The “Additional Provisions” attached hereto as Exhibit F are incorporated herein by this
reference and made a part hereof. 
 ARTICLE 19 
 DEFAULTS; REMEDIES 

19.1      Events of Default.  The occurrence of any of the
following shall constitute a “Default”: 
 19.1.1  Any failure by Tenant to pay any
Rent when due unless such failure is cured within five (5) business days after written notice; or 

19.1.2  Abandonment of the Premises by Tenant (as “abandonment” is defined in Section 1951.3 of
the California Civil Code); 

  
 28 

 19.1.3  Except as otherwise provided in this
Section 19.1, any failure by Tenant to observe or perform any other provision, covenant or condition of this Lease where such failure continues for 30 days after written notice from Landlord; provided that if such failure cannot
reasonably be cured within such 30-day period, Tenant shall not be deemed to be in Default if it diligently commences such cure within such period, thereafter diligently pursues such cure, and completes such cure within a reasonable time after
Landlord’s written notice; or 
 19.1.4  Any failure by Tenant to observe or perform the
provisions of Articles 5, 14, 17 or 18 above where such failure continues for more than two (2) business days after notice from Landlord; or 

19.1.5  Tenant becomes in breach of Section 30.18.1.2 or 30.18.1.3 below. 

The notice periods provided herein shall, at the election of Landlord, run concurrently with any notice periods provided
by Law, and any notice delivered in order to be entitled to commence an unlawful detainer proceeding which identifies the alleged Tenant Default shall satisfy the notice condition for a Default pursuant to this Section. 

19.2      Remedies Upon Default.    Upon the occurrence
of any Default, Landlord shall have, in addition to any other remedies available to Landlord at law or in equity (which shall be cumulative and nonexclusive), the option to pursue any one or more of the following remedies (which shall be cumulative
and nonexclusive) without any notice or demand. 
 19.2.1  Terminate this Lease, in which event
Tenant shall immediately surrender the Premises to Landlord, and if Tenant fails to do so, Landlord may, without prejudice to any other remedy it may have for possession or arrearages in Rent, enter upon and take possession of the Premises and expel
or remove Tenant and any other person who may be occupying the Premises or any part thereof in any manner permitted by Law, without being liable for prosecution or any claim or damages therefor; and Landlord may recover from Tenant the following:

 (a)        The worth at the time of award of the unpaid Rent which
has been earned at the time of such termination; plus 
 (b)        The
worth at the time of award of the amount by which the unpaid Rent which would have been earned after termination until the time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus 

(c)        The worth at the time of award of the amount by which the unpaid Rent
for the balance of the Lease Term after the time of award exceeds the amount of such Rent loss that Tenant proves could be reasonably avoided; plus 
 (d)        Any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under this
Lease or which in the ordinary course of things would be likely to result therefrom, including unamortized brokerage commissions and advertising expenses, and expenses of placing the Premises in the Required Surrender Condition, ; and 

(e)        At Landlord’s election, such other amounts in addition to or in
lieu of the foregoing as may be permitted from time to time by applicable Law. 
 As used in
Sections 19.2.1(a) and (b) above, the “worth at the time of award” shall be computed by allowing interest at a rate per annum equal to the lesser of the following (the “Default Rate”):
(i) the Prime Rate plus five percent (5%) per annum, or (ii) the highest rate permitted by Law. As used in Section 19.2.1(c) above, the “worth at the time of award” shall be computed by discounting such
amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus 1%. As used in this Lease, the term “Prime Rate” means the prime rate (or base rate) reported in the Money Rates column or section of
The Wall Street Journal as being the base rate on corporate loans at large U.S. money center commercial banks (whether or not such rate has actually been charged by any such bank) on the first day on which The Wall Street Journal is published in the
month preceding the month in which the subject sums are payable or incurred. 
 19.2.2  Landlord
shall have the remedy described in California Civil Code Section 1951.4 (lessor may continue lease in effect after lessee’s breach and abandonment and recover Rent as it becomes due, if lessee has the right to sublet or assign, subject
only to reasonable limitations). Accordingly, if Landlord does not elect to terminate this Lease on account of any default by Tenant, Landlord may, from time to time, without terminating this Lease, enforce all of its rights and remedies under this
Lease, including the right to recover all Rent as it becomes due. 

  
 29 

 19.2.3  Landlord shall at all times have the rights and remedies
(which shall be cumulative with each other and cumulative and in addition to those rights and remedies available under Sections 19.2.1 and 19.2.2, above, or any Law or other provision of this Lease), without prior demand or notice
except as required by applicable Law or this Lease, to seek any declaratory, injunctive or other equitable relief, and specifically enforce this Lease, or restrain or enjoin a violation or breach of any provision hereof. 

19.3      Subleases of Tenant.    If Landlord elects to
terminate this Lease on account of any Default as set forth in this Article 19, Landlord shall have the right to (a) terminate any sublease, license, concession or other occupancy agreement entered into by Tenant and affecting the
Premises, or, in Landlord’s sole and absolute discretion, or (b) succeed to Tenant’s interest in such subleases, licenses, concessions or other agreements. If Landlord elects to succeed to Tenant’s interest in any such subleases,
licenses, concessions or other agreements, Tenant shall, as of the date of Landlord’s notice of such election, have no further right to or interest in the Rent or other consideration receivable thereunder. 

19.4      Efforts to Relet.    Unless Landlord provides
Tenant with express written notice to the contrary, no re-entry, repossession, repair, maintenance, change, alteration, addition, reletting, appointment of a receiver or other action or omission by Landlord shall (a) be construed as an election
by Landlord to terminate this Lease or Tenant’s right to possession, or to accept a surrender of the Premises, or (b) operate to release Tenant from any of its obligations hereunder. Tenant hereby waives, for Tenant and for all those
claiming by, through or under Tenant, the provisions of Section 3275 of the California Civil Code and Sections 1174(c) and 1179 of the California Code of Civil Procedure and any rights, now or hereafter existing, to redeem or reinstate, by
order or judgment of any court or by any legal process or writ, this Lease or Tenant’s right of occupancy of the Premises after any termination of this Lease; provided, however, that, not more than one time during the Lease Term, Tenant may
assert its rights under such provisions in connection with a non-monetary Default by Tenant only, and only on the condition that (i) such Default not result in an emergency situation, with an imminent threat to the life or safety of any persons
or material damage to property, or a situation that would materially and adversely affect the condition of any of the Buildings, the Building Systems or the Project generally, and (ii) concurrently with asserting such rights, Tenant pays all
sums owing by Tenant pursuant to Section 19.2.1 with respect to such Default. 

19.5       Landlord Defaults. 

19.5.1  Landlord shall not be in default hereunder unless it fails to begin within 30 days after written
notice from Tenant, or fails to pursue with reasonable diligence thereafter, the cure of any failure of Landlord to meet its obligations hereunder. If Landlord is in default, Tenant shall, except as otherwise specifically provided in this Lease to
the contrary, have rights and remedies available at Law or in equity (which shall be cumulative with each other), including without limitation, the right to seek actual damages, declaratory, injunctive or other equitable relief, to specifically
enforce this Lease, or restrain or enjoin a violation or breach of any provision hereof. 

19.5.2  Without limiting Tenant’s other rights provided in this Lease, if Landlord is in default of
Landlord’s maintenance or repair obligations under this Lease and has failed to perform such obligations within thirty (30) days after written notice from Tenant (provided that, if such default poses an immediate threat to person or
property, then only such cure period as is reasonable under the circumstances shall be required), then, unless Landlord has commenced and is proceeding with due diligence to complete such work, Tenant may, if Landlord’s failure continues for
three (3) business days following a second written demand from Tenant to Landlord and Security Holder (which demand shall specifically reference Tenant’s intent to exercise its remedies in this Section 19.5), perform such work
and bill Landlord for the reasonable cost thereof; provided, however, that such three (3) business day second notice shall not be required if Landlord’s default poses an immediate threat to person or property and if Tenant’s initial
default notice to Landlord specifically references Tenant’s intent to exercise its remedies in this Section 19.5). Landlord shall pay for the reasonable cost of such work, together with interest thereon at the Default Rate from the
date of Landlord’s default, within thirty (30) days after receipt of written demand for payment from Tenant, together with reasonable supporting documentation for such costs. Any such maintenance or repair work performed by Tenant pursuant
to this Section 19.5 shall be performed in accordance with the terms and conditions set forth in Section 7.1 above; provided, however, that if Landlord fails to timely respond to requests for approval or otherwise fails to
timely cooperate in the maintenance or repair work performed by Tenant as required by Section 7.1 above (or the provisions of Article 8 incorporated therein), then Tenant shall be permitted to perform such work using qualified
contractors which normally and regularly perform similar work in comparable office/R&D projects, in a good and workmanlike manner and in conformance with all applicable Laws. Tenant’s and Landlord’s rights and obligations under this
Section 19.5.2 shall survive the expiration or any earlier termination of this Lease. 

19.5.3  Notwithstanding any provision of this Lease to the contrary, Tenant hereby covenants that prior to the
exercise of any remedies for a default or breach by Landlord (except for 

  
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 Tenant’s remedies set forth in Section 19.5.2 above or
Section 19.6 below, which shall be governed by the express provisions of those Sections), Tenant shall give notice and a reasonable time to cure to any Security Holder of which Tenant has been given notice of its name and address for
such purpose; provided, however, that, in the case of any emergency, Tenant shall be permitted to take such actions as are reasonably necessary and to provide the Security Holder with the required notice reasonably promptly under the circumstances.

 19.6      Abatement Event. Without limiting
Tenant’s other rights provided in this Lease, if the entirety of one or more Buildings, or a material portion of one or more Buildings, is made untenantable for the conduct of a Permitted Use then being made of such Building or inaccessible as
a result of (a) Landlord’s failure to timely perform any of its obligations under this Lease, or (b) the presence of Hazardous Substances brought on the Premises by Landlord or a Landlord Party or (c) the presence of Hazardous
Substances referenced in the Landlord Environmental Reports (defined below) (or any break-down products thereof) on or about the Premises that (i) violate Environmental Laws on the date of this Lease or (ii) causes any governmental
authority to determine that the Premises or any portion thereof are not reasonably suitable for the conduct of the Permitted Use then being made of the Premises (such circumstances set forth in items (a), (b) or (c) above shall be an
“Abatement Event”), then Tenant shall give notice of such Abatement Event to Landlord and any Security Holder of which Tenant has been given notice, and if such Abatement Event continues for [*****] the “Abatement Eligibility Date”), then Monthly Rent
shall be abated for the period beginning on the day immediately following the Abatement Eligibility Date and ending on the day that the affected Building(s) are made tenantable for the conduct of Tenant’s business and accessible; provided,
however, that in the event of any Abatement Event described in clause (c) above, Monthly Rent shall be abated hereunder only to the extent that any Business Interruption and Extra Expense Insurance carried by Tenant does not cover such Monthly
Rent obligation (or cover the monthly rent obligation in any premises to which Tenant relocates its business operations as a result of such Abatement Event). If an Abatement Event renders less than the entire Premises untenantable for the conduct of
the Permitted Uses being made of the Premises or inaccessible, the amount of Monthly Rent abated shall be prorated in proportion to the percentage of the rentable square footage of the Premises that is rendered untenantable for the conduct of
Tenant’s business or inaccessible. To the extent an Abatement Event is caused by an event covered by Articles 11 or 13 of this Lease, then the terms of such Article 11 or 13, as the case may be, shall govern
Tenant’s right to abate Rent and the terms of this Section 19.6 shall not be applicable thereto. 
 ARTICLE
20 
 RIGHTS RESERVED TO LANDLORD 

In addition to any and all other rights reserved by Landlord hereunder, Landlord may exercise at any time any of the
following rights respecting the operation of the Project without liability to Tenant of any kind; provided, however, that Landlord shall not, however, exercise any of the following rights if the same would constitute a breach of any of
Landlord’s obligations or other covenants contained in this Lease, or in such manner as (a) would unreasonably interfere with Tenant’s use of, access to, or parking at the Premises or (b) materially increases the obligations or
decreases the rights of Tenant under this Lease: 
 20.1      Preparation
for Reoccupancy.  To decorate, remodel, repair, alter or otherwise prepare the Premises (or any Building) for reoccupancy at any time after Tenant permanently vacates the Premises (or any Building), without relieving Tenant of any
obligation to pay Rent. 
 20.2      Use of Lockbox.  To
designate a lockbox collection agent for collections of amounts due Landlord. In that case, the date of payment of Rent or other sums shall be the date of the agent’s receipt of such payment or the date of actual collection if payment is made
in the form of a negotiable instrument thereafter dishonored upon presentment. However, if the applicable payment is not payment in full for the corresponding obligation, Landlord may reject any payment for all purposes as of the date of receipt or
actual collection by mailing to Tenant within a reasonable time after such receipt or collection a check equal to the amount sent by Tenant. 
 20.3      Repairs and Alterations.  To perform the repairs of Landlord required pursuant to Section 7.2 or elsewhere in this Lease and, in
doing so, to transport any required material through the Project, to temporarily close entrances or other facilities in the Project, or to temporarily suspend use of Exterior Areas as reasonably necessary for such repair work. Landlord may perform
any such repairs during ordinary business hours, except that Tenant may require any work in the Buildings to be done after business hours if Tenant pays Landlord for overtime and any other expenses incurred. Landlord may do or permit any work on any
nearby building, land, street, alley or way. 
  
 [*****] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted
portions. 

  
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 20.4       Other
Actions.    To take any other action that is reasonable in connection with the operation, maintenance or preservation of the Buildings and the Project and not in violation of this Lease. 

ARTICLE 21 

LANDLORD EXCULPATION 
 The liability of the Landlord Parties to Tenant under or relating to this Lease, the Premises or Landlord’s operation, management, leasing, repair, renovation or alteration of the Premises shall be
limited to an amount equal to Landlord’s interest in the Project or the rent, sales, insurance or condemnation proceeds received by Landlord in connection with the Project (“Landlord’s Proceeds”). Tenant shall look solely
to Landlord’s interest in the Project and Landlord’s Proceeds thereof for the recovery of any judgment or award against any Landlord Party. No Landlord Party shall have any personal liability for any judgment or deficiency, and Tenant
hereby waives and releases such personal liability on behalf of itself and all persons claiming by, through or under Tenant. The limitations of liability contained in this Article 21 shall inure to the benefit of the Landlord
Parties’ present and future partners, members, beneficiaries, officers, directors, trustees, shareholders, agents and employees, and their respective partners, heirs, successors and assigns. Under no circumstances shall any present or future
partner or member of Landlord (if Landlord is a partnership or limited liability company) or any trustee or beneficiary of Landlord (if Landlord or any partner or member of Landlord is a trust) have any personal liability for the performance of
Landlord’s obligations under this Lease. Notwithstanding any contrary provision herein, no Landlord Party shall be liable for any injury or damage to, or interference with, Tenant’s business, including loss of profits, loss of rents or
other revenues, loss of business opportunity, loss of goodwill, or loss of use, or for any form of special or consequential damage, in each case however occurring; provided, however, that if Landlord breaches the provisions of Article 14
above, Tenant’s suit for contract damages may include loss of rents from the proposed Transfer and other direct damages suffered by Tenant as a result of Landlord’s breach. 

ARTICLE 22 

SECURITY DEPOSIT 
 Concurrently with its execution and delivery of this Lease, Tenant shall deposit with Landlord the Security Deposit, if any, as security for Tenant’s performance of its obligations under this Lease.
If Tenant defaults under any provision of this Lease, Landlord may, at its option, without notice to Tenant, apply such portion of the Security Deposit as is required to pay any past-due Rent, cure any default by Tenant, or compensate Landlord for
any other loss or damage caused by such default (including all Rent or other damages due upon termination of this Lease pursuant to Section 19.2.1 above). If Landlord so applies any portion of the Security Deposit, Tenant shall, within
five (5) business days after written demand therefor, restore the Security Deposit to its original amount, and Tenant’s failure to do so shall, at Landlord’s option, be an incurable Default. The Security Deposit is not an advance
payment of Rent or measure of damages. Any unapplied portion of the Security Deposit shall be returned to Tenant within 30 days after the latest to occur of (a) the expiration of the Lease Term, or (b) Tenant’s vacation and
surrender of possession of the Premises in accordance with the requirements of this Lease. Landlord may assign the Security Deposit to a successor Landlord under this Lease and thereafter shall have no further liability to Tenant for the return of
the Security Deposit. Tenant shall not be entitled to any interest on the Security Deposit and Landlord shall not be required to keep the Security Deposit separate from its other accounts. Tenant hereby waives the provisions of Section 1950.7
of the California Civil Code and any other Law governing the manner of application or timing of the return of a security deposit. Notwithstanding the foregoing to the contrary, in lieu of a cash Security Deposit, Tenant may deposit with Landlord a
Letter of Credit (as defined in and pursuant to the terms of Exhibit F). 
 ARTICLE 23 

RESERVED 

ARTICLE 24 

SIGNS 
 24.1      Signage Rights.  Subject to the terms and conditions of this Article 24, Tenant may, at its sole cost and expense, place signage
identifying the Original Tenant and, to the extent permitted below, a Transferee on the exterior of any Building (“Building Signage”) or on any Project monument (“Monument Signage” and collectively the
“Signage”). The graphics, materials, size, color, design, lettering, lighting (if any), specifications and exact location of the Signage (collectively, the “Signage Specifications”) shall be subject to approval by
Landlord, which shall not be unreasonably withheld or 

  
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delayed provided the same are consistent with Landlord’s signage standards attached hereto as Exhibit H (“Signage Standards”). In addition, the Signage
and all Signage Specifications therefor shall be subject to Tenant’s receipt of all required governmental permits and approvals, and shall be subject to all applicable Laws, the Signage Standards and all Underlying Documents. Tenant hereby
acknowledges that, notwithstanding Landlord’s approval of the Signage and/or the Signage Specifications therefor, Landlord has made no representations or warranties to Tenant with respect to the probability of obtaining such approvals and
permits. In the event Tenant does not receive the necessary permits and approvals for the Signage, Tenant’s and Landlord’s rights and obligations under the remaining provisions of this Lease shall not be affected. The cost of installation
of the Signage, as well as all costs of design and construction of such Signage and all other costs associated with such Signage, including, without limitation, permits, maintenance and repair, shall be the sole responsibility of Tenant. Any
approved Signage shall be installed and removed at Tenant’s expense. Tenant, at its sole expense, shall maintain all Signage in good condition and repair during the Term. Prior to the expiration or earlier termination of this Lease, Tenant at
its sole cost shall remove all of its Signage and repair any and all damage caused to the Buildings and/or Project (including any fading or discoloration) by such Signage and/or the removal of such Signage from the Buildings and/or Project.

 24.2      Rights Personal to Tenant; Occupancy
Requirements.  Tenant’s Signage Rights are personal to, and may be exercised only by the Original Tenant and not by any assignee, sublessee or Transferee of Tenant’s interest in this Lease, except that Tenant may transfer
rights to the Signage to a Permitted Assignee, provided that such Permitted Assignee occupies at least fifty percent (50%) of the rentable square footage of the Premises and the name of the Permitted Assignee is not an “Objectionable
Name” as that term is defined below. Notwithstanding the foregoing, (a) Tenant’s rights to Monument Signage relating to a particular Building, if any, may be transferred to a Transferee consented to by Landlord pursuant to Article
14 or to a Permitted Assignee, provided that such Transferee leases and occupies at least fifty percent (50%) of the rentable square footage of such Building and the name of the Transferee is not an “Objectionable Name”; and
(b) as to each Building, Tenant’s rights to Building Signage may be transferred to a Transferee consented to by Landlord pursuant to Article 14 or to a Permitted Assignee, provided that such Transferee leases and occupies one
hundred percent (100%) of the rentable square footage of the particular Building and the name of the Transferee is not an “Objectionable Name”. No other assignee, sublessee or Transferee of Tenant’s interest in this Lease shall
have the benefit of any of Tenant’s Signage Rights. For purposes hereof, “Objectionable Name” means any name that in Landlord’s commercially reasonable judgment, detracts from or adversely affects the reputation,
marketability or value of the Project. 
 ARTICLE 25 

COMPLIANCE WITH LAW; HAZARDOUS SUBSTANCES 
 25.1      Compliance with Laws. 
 25.1.1    Tenant’s Obligations.  Except as expressly made the obligation of Landlord under Section 25.1.2, Tenant, at its expense, shall comply
with all applicable Laws relating to (a) the operation of its business at the Project, or (b) the use, condition, configuration or occupancy of the Premises, including the Building Systems (collectively, “Tenant’s Compliance
Obligations”); provided, however, that Tenant’s Compliance Obligations shall not include the performance of any Alterations to the Premises to comply with Laws if such Alterations would properly be classified as a capital expenditure
under GAAP or would require structural modifications to the Building, unless such Alterations are related to or arise out of the following (“Tenant’s Specific Use”): (i) any Alterations made by Tenant or any Tenant Party
to the Premises, (ii) any Tenant Specialized Improvements or (iii) the use of the Premises for purposes other than general office use. If, in order to comply with any such Law, Tenant must obtain or deliver any permit, certificate or other
document evidencing such compliance, upon request by Landlord, Tenant shall provide a copy of such document to Landlord promptly after request. In addition, if a change to any Building or Exterior Areas becomes required under any applicable Law as a
result of Tenant’s Specific Use, Tenant’s Compliance Obligations shall include and Tenant, upon demand, shall (x) make such change at Tenant’s cost or, (y) if Tenant so elects, pay Landlord the cost of making such change,
and pay Landlord a fee for Landlord’s oversight and coordination of such work equal to 1.5% of its cost. The judgment of any court of competent jurisdiction or the admission of Tenant in any judicial action, regardless of whether Landlord is a
party thereto, that Tenant has violated (or that, because of Tenant’s Specific Use, a change to the Building or Exterior Areas has become required under) any of such applicable Laws shall be conclusive of that fact as between Landlord and
Tenant. As used herein, “Laws” means the laws, ordinances, regulations and requirements, whether now or hereafter in effect, of the United States of America, the State of California, the local municipal or county governing body, and
any other lawful authority having jurisdiction over the Project or the parties. Notwithstanding anything to the contrary in this Lease, this provision shall not apply to any express obligation of Landlord under Section 25.1.2, any
failure of the Premises to be in the Required Delivery Condition on the Premises Delivery Date, any failure of the Landlord’s Work to comply with Laws or any obligation of the parties to comply with Environmental Laws (which shall be governed
by 

  
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Section 25.2 below). Landlord shall promptly undertake and complete, at its cost, any change to the Premises or Landlord’s Work required to correct any failure of Landlord’s
Work to comply with applicable Law. 
 25.1.2    Landlord’s
Obligations.  Landlord shall comply with all applicable Laws relating to the Base Building, except to the extent related to or arising out of Tenant’s Specific Use, and provided further that Landlord’s failure to comply
therewith would prohibit Tenant from obtaining or maintaining a certificate of occupancy for the Premises, or would unreasonably and materially affect the safety of Tenant’s employees or create a significant health hazard for Tenant’s
employees, or would otherwise materially and adversely affect Tenant’s use of or access to the Premises or the Tenant’s cost of performing its obligations under this Lease. Nothing contained herein, however, shall be deemed to prohibit
Landlord from obtaining a variance or relying upon a grandfathered right in order to achieve compliance with applicable Laws so long as Landlord’s failure to comply with current Applicable Laws does not prohibit Tenant from obtaining or
maintaining a certificate of occupancy for the Premises materially affect the safety of Tenant’s employees or create a significant health hazard for Tenant’s employees, or otherwise materially and adversely affect Tenant’s use of or
access to the Premises. Landlord shall be permitted to include in Expenses any costs or expenses incurred by Landlord under this Article 25 to the extent not prohibited by the terms of Section 4.2.2 above. In addition, upon
Tenant’s request, Landlord shall be responsible to make all Alterations to the Premises to comply with Laws if such Alterations would properly be classified as a capital expenditure under GAAP or would require structural modifications to the
Buildings, unless such Alterations are related to or arise out of Tenant’s Specific Use, subject, however, to the following: except to the extent excluded from Expenses by Section 4.2.2(k), Tenant shall pay to Landlord, as
Additional Rent, in equal monthly installments hereunder with Base Rent, the portion of the cost of such Alterations allocable to the remaining Term (including any Extension Term), which portion shall be determined by amortizing the cost of such
Alterations on a straight line basis over the useful life thereof (as Landlord shall reasonably determine in accordance with GAAP), together with interest on such amortized amount calculated at the lesser of (i) eight percent (8%) per
annum or (ii) the maximum legal rate of interest allowed by the State of California. 

25.2      Hazardous Substances; Mold Conditions. 

25.2.1    Prohibition Against Hazardous Substances. 

(a)        Tenant shall not cause or knowingly or negligently permit any
Hazardous Substances (as defined below) to be brought upon, produced, treated, stored, used, discharged or disposed of in the Project (“Tenant’s Hazardous Substances”) without Landlord’s prior written consent, which
Landlord may give or withhold in its sole discretion; provided, however, that (i) Tenant may handle, store, use or dispose of small quantities of customary office and cleaning supplies in the conduct of Tenant’s business, (ii) those
items disclosed in the Initial Disclosure Certificate, as defined in Section 25.2.4 below, are hereby approved by Landlord, and (iii) Landlord shall not unreasonably withhold, condition, or delay its consent to Hazardous Substance
to be used in the conduct of Tenant’s business in compliance with Applicable Law, so long as Tenant has provided to Landlord assurance reasonably satisfactory to Landlord that such Hazardous Substances will not contaminate the Premises or pose
a threat or damages to the health or safety of the occupants or invitees of the Premises. Any handling, transportation, storage, treatment, disposal or use of any Hazardous Substances in or about the Project by Tenant and other Tenant Parties shall
strictly comply with all applicable Laws. Tenant shall be solely responsible for obtaining and complying with all permits necessary for the maintenance and operation of its business, including, without limitation, all permits governing the use,
handling, storage, treatment, transport, discharge and disposal of Hazardous Substances. Tenant shall indemnify, defend and hold Landlord and the Landlord Parties harmless from and against any Claims (including, without limitation, diminution in
value of the Project, damages for the loss or restriction on use of leasable space or of any amenity of the Project, damages arising from any adverse impact on marketing of space in the Project, Remedial Work, and sums paid in settlement of claims)
to the extent resulting from or arising out of the use, storage, treatment, transportation, release, or disposal of any Tenant’s Hazardous Substances in, on or from the Buildings or the Project during the Term (“Tenant’s
Environmental Indemnity”). 
 (b)        Landlord shall have
the right, at any time, but not more than one (1) time in any calendar year (unless (x) Landlord has reasonable cause to believe that Tenant has failed to fully comply with the provisions of this Section 25.2, or
(y) required by any lender or governmental agency), to inspect the Premises and conduct tests and investigations to determine whether Tenant is in compliance with the provisions of this Section 25.2. The costs of all such
inspections, tests and investigations indicating a violation of this Section by Tenant shall be borne solely by Tenant if Tenant is in breach or violation of its obligations under this Article 25 or any subsection hereof. The foregoing rights
granted to Landlord shall not, however, create (i) a duty on Landlord’s part to inspect, test, investigate, monitor or otherwise observe the Premises or the activities of Tenant or any Tenant Party with respect to Hazardous Substances,
including, but not limited to, Tenant’s operation, use or remediation thereof, or (ii) liability on the part of Landlord or any Landlord Party for Tenant’s use, storage, treatment, transportation, release, or

  
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disposal of any Hazardous Substances, it being understood that Tenant shall be solely responsible for all liability in connection with Tenant’s Hazardous Substances. Any such entry on the
Premises by Landlord for inspection or testing shall comply with Article 28. 

25.2.2    Landlord Notification. Within a reasonable time following Tenant’s
knowledge of any unauthorized release, spill or discharge of Tenant’s Hazardous Substances, in, on, or about the Premises, Tenant shall provide written notice to Landlord fully describing the event. Tenant shall also provide Landlord with a
copy of any document or correspondence submitted by or on behalf of Tenant to any regulatory agency as a result of or in connection with any such unauthorized release, spill or discharge. Within a reasonable time (not more than five
(5) business days) of receipt by Tenant of any warning, notice of violation, permit suspension or similar disciplinary measure by a governmental agency relating to Tenant’s actual or alleged failure to comply with any environmental law,
rule, regulation, ordinance or permit relating to Tenant’s Hazardous Substances at the Premises, Tenant shall provide written notice to Landlord. 
 25.2.3    Remedial Work. If any investigation or monitoring of site conditions or any clean-up, containment, restoration, removal or remediation of Tenant’s
Hazardous Substances (collectively, “Remedial Work“) is required under any applicable Laws as a result of the handling, use, storage, treatment, transportation or disposal of any Tenant’s Hazardous Substances, then Tenant shall
perform or cause to be performed the Remedial Work in compliance with applicable Laws or, if Tenant Defaults in the performance of such Remedial Work, at Landlord’s option, Landlord may cause such Remedial Work to be performed and Tenant shall
reimburse Landlord for the reasonable costs thereof within thirty (30) days after demand therefor. All Remedial Work performed by Tenant shall be performed by one or more contractors, selected by Tenant and approved in advance in writing by
Landlord, and under the supervision of a consulting engineer selected by Tenant and approved in advance in writing by Landlord, which approvals by Landlord shall not be unreasonably withheld, conditioned or delayed. All costs and expenses of such
Remedial Work shall be paid by Tenant, including, without limitation, the reasonably incurred charges of such contractor(s) or the consulting engineer, and Landlord’s reasonable attorneys’ and experts’ fees and costs incurred in
connection with monitoring or review of such Remedial Work. 
 25.2.4    Hazardous
Substances Disclosure Certificate. Prior to executing this Lease, Tenant has completed, executed and delivered to Landlord a Hazardous Materials Disclosure Certificate (“Initial Disclosure Certificate”), a fully completed
copy of which is attached hereto as Exhibit E and incorporated herein by this reference. The completed Hazardous Substances Disclosure Certificate shall be deemed incorporated into this Lease for all purposes, and Landlord shall be
entitled to rely fully on the information contained therein. Tenant shall, at such times as Tenant desires to handle, produce, treat, store, use, discharge or dispose of new or additional Hazardous Substances on or about the Premises that were not
listed on the Initial Disclosure Certificate, complete, execute and deliver to Landlord an updated Disclosure Certificate (each, an “Updated Disclosure Certificate”) describing Tenant’s then current and proposed future uses of
Hazardous Substances on or about the Premises, which Updated Disclosure Certificates shall be in the same format as that which is set forth in Exhibit E or in such updated format as Landlord may reasonably require from time to
time. Tenant shall deliver an Updated Disclosure Certificate to Landlord not less than thirty (30) days prior to the date Tenant intends to commence the manufacture, treatment, use, storage, handle, discharge or disposal of new or additional
Hazardous Substances on or about the Premises, and Landlord shall have the right to approve or disapprove such new or additional Hazardous Substances in its reasonable discretion. Tenant shall make no use of Hazardous Substances on or about the
Premises except as described in the Initial Disclosure Certificate or as otherwise approved by Landlord in writing in accordance with this Section 25.2. 

25.2.5     Mold. 

(a)        Because mold spores are present essentially everywhere and mold can
grow in almost any moist location, Tenant acknowledges the necessity of adopting and enforcing good housekeeping practices, ventilation and vigilant moisture control within the Premises (particularly in kitchen areas, janitorial closets, bathrooms,
in and around water fountains and other plumbing facilities and fixtures, break rooms, in and around outside walls, and in and around HVAC systems and associated drains) for the prevention of mold (such measures, “Mold Prevention
Practices”). Tenant will, at its sole cost and expense keep and maintain the Premises in good order and condition in accordance with the Mold Prevention Practices and acknowledges that the control of moisture, and prevention of mold within
the Premises, are integral to its obligations under this Lease. 

(b)        Tenant, at its sole cost and expense, shall: 

(1)        Reasonably monitor the Premises for the presence of mold and any
conditions that reasonably can be expected to give rise or be attributed to mold or fungus including, but not limited to, observed or suspected instances of water damage, condensation, seepage, leaks or any other water penetration (from any source,
internal or external), mold growth, mildew, repeated complaints 

  
 35 

 
of respiratory ailments or eye irritation by Tenant’s employees or any other occupants of the Premises, or any notice from a governmental agency of complaints regarding the indoor air
quality at the Premises (the “Mold Conditions”); and 

(2)        Immediately notify Landlord in writing if it observes, suspects, has
reason to believe that mold or Mold Conditions exist at the Premises. 
 In the event of suspected mold or Mold Conditions at
the Premises, Landlord may cause an inspection of the Premises to be conducted, during such time as Landlord may designate, to determine if mold or Mold Conditions are present at the Premises; provided, however that any such inspection will be
conducted in accordance with Article 28. 

(c)        Notwithstanding anything to the contrary in this Lease, Tenant shall
not be responsible for, and upon request, Landlord at its sole cost, shall take all actions necessary to investigate, identify, and remediate any mold to the extent that such remediation is necessitated by (i) any deficiency in the Required
Delivery Condition as of the Premises Delivery Date, (ii) any defect or condition arising in connection with Landlord’s Work, or (iii) any condition arising from Landlord’s failure to perform any repair, replacement or
improvement which is Landlord’s obligation to perform under the provisions of this Lease. 

25.2.6    Surrender. Tenant shall surrender the Premises to Landlord upon the
expiration or earlier termination of this Lease free of (a) mold or Mold Conditions caused or exacerbated by the negligent or intentional acts or omissions of Tenant or any Tenant Parties, and (b) Tenant’s Hazardous Substances placed
on, about or near the Premises, in each case to the extent required by Environmental Laws. Tenant’s obligations and liabilities pursuant to the provisions of this Section 25.2 shall be in addition to any other surrender requirement
in this Lease and shall survive the expiration of the Lease Term or any earlier termination of this Lease. 

25.2.7    Definitions. As used in this Lease, the following terms shall be defined as
follows: 
 (a)        “Hazardous Substances” means
(1) any substance or material that is included within the definitions of “hazardous substances,” “hazardous materials,” “toxic substances,” “pollutant,” “contaminant,” “hazardous
waste,” or “solid waste” in any Environmental Law (as hereinafter defined); (2) petroleum or petroleum derivatives, including crude oil or any fraction thereof, all forms of natural gas, and petroleum products or by-products or
waste; (3) polychlorinated biphenyls (PCB’s); (4) asbestos and asbestos containing materials (whether friable or non-friable); (5) lead and lead based paint or other lead containing materials (whether friable or non-friable);
(6) urea formaldehyde; (7) microbiological pollutants; (8) batteries or liquid solvents or similar chemicals; (9) radon gas; (10) mildew, fungus, mold, bacteria and/or other organic spore material, whether or not airborne,
colonizing, amplifying or otherwise that is a danger to health; and (11) any additional substance, material or waste (A) the presence of which on or about the Premises (i) requires reporting, investigation or remediation under any
Environmental Laws, (ii) causes or threatens to cause a nuisance on the Premises or any adjacent area or property or poses or threatens to pose a hazard to the health or safety of persons on the Premises or any adjacent area or property, or
(iii) which, if it emanated or migrated from the Premises, could constitute a trespass by a hazardous substance, or (B) which is now or is hereafter classified or considered to be hazardous or toxic under any Environmental Laws.

 (b)        “Environmental Laws” means all statutes,
terms, conditions, limitations, restrictions, standards, prohibitions, obligations, schedules, plans and timetables that are contained in or promulgated pursuant to any federal, state or local laws (including rules, regulations, ordinances, codes,
judgments, orders, decrees, contracts, permits, stipulations, injunctions, the common law, court opinions, and demand or notice letters issued, entered, promulgated or approved thereunder), relating to pollution or the protection of the environment,
including laws relating to emissions, discharges, releases or threatened releases of Hazardous Substances into ambient air, surface water, ground water or lands or otherwise relating to the manufacture, processing, distribution, use, treatment,
storage, disposal, transport or handling of Hazardous Substances including but not limited to the: Comprehensive Environmental Response Compensation and Liability Act of 1980 (CERCLA), as amended by the Superfund Amendments and Reauthorization Act
of 1986 (SARA), 42 U.S.C. 9601 et seq.; Solid Waste Disposal Act, as amended by the Resource Conservation and Recovery Act of 1976 (RCRA), 42 U.S.C. 6901 et seq.; Federal Water Pollution Control Act, 33 U.S.C. 1251 et seq.;
Toxic Substances Control Act, 15 U.S.C. 2601 et seq.; Clean Air Act, 42 U.S.C. 7401 et seq.; and the Safe Drinking Water Act, 42 U.S.C. § 300f et seq. “Environmental Laws” shall include
any statutory or common law that has developed or develops in the future regarding mold, fungus, microbiological pollutants, mildew, bacteria and/or other organic spore material that is a Hazardous Substance. “Environmental Laws”
shall not include laws relating to industrial hygiene or worker safety, except to the extent that such laws address asbestos and asbestos containing materials (whether friable or non-friable) or lead and lead based paint or other lead containing
materials. 

  
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 25.3      Landlord’s Environmental
Representations and Obligations. 
 25.3.1    Tenant acknowledges receipt of
[*****] (“Landlord’s Environmental Reports”). Tenant also acknowledges that, based on the information [*****]. Landlord represents and warrants to Tenant that, to Landlord’s knowledge as of the date of this Lease and
except as may be disclosed in Landlord’s Environmental Reports, the Premises do not contain any Hazardous Substances in amounts or conditions that violate applicable Environmental Laws; provided, however, that if the foregoing representation
and warranty is untrue, then Landlord shall not be liable to Tenant for any damages, but Landlord, at no cost to Tenant, shall perform such investigation or monitoring of site conditions or Remedial Work as shall be required under applicable
Environmental Laws. For purposes of this Lease, whenever the phrase “to Landlord’s knowledge” or the “knowledge” of Landlord or words of similar import are used, they shall be deemed to mean and are limited to the current
actual knowledge only of [*****], at the times indicated only, and not any implied, imputed or constructive knowledge of such individual(s) or of Landlord or any Landlord Parties, and without any independent investigation or inquiry having been made
or any implied duty to investigate. Furthermore, it is understood and agreed that such individual(s) shall have no personal liability in any manner whatsoever hereunder or otherwise related to the transaction contemplated hereby. 

25.3.2    If Landlord obtains knowledge of the presence of Hazardous Substances in, on or about the
Premises in violation of applicable Environmental Laws, Landlord shall, [*****], provide written notice to Tenant, containing reasonable detail, of same. Landlord shall also provide Tenant with copies of any documents or correspondence submitted by
or on behalf of Landlord to any regulatory agency in connection with such Hazardous Substances. 

25.3.3    Landlord shall indemnify, defend and hold harmless the Tenant Parties from and against
(a) [*****] that any such Tenant Parties may incur as a result of [*****] required of any such Tenant Parties by a governmental authority [*****], (b) any action, proceeding or claim (a “Cost Claim”) asserted against any
Tenant Parties seeking to require such Tenant Parties to pay [*****] and (c) any actions, proceedings, investigations, damages, costs, expenses or liabilities asserted by any governmental authority [*****] the Premises as of the date of this
Lease. Notwithstanding the foregoing, Landlord’s obligations under this Section 25.3.3 shall not apply to [*****] (i) to the extent covered by [*****], (ii) to the extent that the [*****] by the negligence or willful
misconduct of any Tenant Party, or (iii) to the extent that [*****] by reason of the negligence or willful misconduct of any Tenant Party. In addition, the foregoing indemnity obligation shall not bind any party that acquires Landlord’s
interest in the Project by foreclosure or deed in lieu of foreclosure. 

25.4      Survival.  Tenant’s and Landlord’s
representations and obligations under this Article 25 shall survive the expiration or of the Lease Term or any earlier termination of this Lease until all Claims within the scope of this Article 25 are fully, finally, and absolutely
barred by the applicable statutes of limitations. 
 ARTICLE 26 

LATE CHARGES 
 If any installment of Monthly Rent is not received by Landlord or Landlord’s designee within five (5) business days after its due date, Tenant shall pay to Landlord a late charge equal to the
greater of 5% of the overdue amount or $250. In addition, any Rent that is not paid within 10 days after its due date shall bear interest, from its due date until paid, at a rate equal to the Default Rate. Such late charges and interest shall
be deemed Additional Rent, not liquidated damages, and Landlord’s right to collect such amounts shall not limit any of Landlord’s other rights and remedies hereunder or at Law. If Tenant fails to pay Monthly Rent when due more than twice
in any 12-month period, then, notwithstanding anything in this Lease to the contrary, Landlord, at its option, may thereafter require Tenant to pay Base Rent and Direct Expenses quarterly in advance until Tenant has timely paid four such quarterly
Rent payments. 
 ARTICLE 27 
 LANDLORD’S RIGHT TO CURE DEFAULT 
 Landlord shall have
the right, at its option, to cure any Default (or, in the event of an emergency, any failure by Tenant to perform its obligations under this Lease), without waiving its rights and remedies based upon such Default (or failure to perform) and without
releasing Tenant from any obligations hereunder, in which event Tenant shall pay to Landlord, upon demand, all costs incurred by Landlord in performing such cure (including reasonable attorneys’ fees). Tenant’s obligations under this
Article 27 shall survive the expiration or sooner termination of this Lease. 
  

 
 [*****] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted
portions. 

  
 37 

 ARTICLE 28 
 ENTRY BY LANDLORD 
 Landlord reserves the right, at all
reasonable times and upon reasonable notice to Tenant (except in the case of an emergency), to enter the Premises (including the Buildings) to (i) inspect the Premises; (ii) show the Premises to prospective purchasers, to current or
prospective Security Holders or insurers, or, during the last 12 months of the Lease Term (or while an uncured Default exists), to prospective tenants; (iii) post notices of non-responsibility; or (iv) perform maintenance, repairs or
alterations required of Landlord by this Lease. Notwithstanding anything to the contrary in this Article 28, Landlord may enter the Premises (including the Buildings), at any time and without prior notice to Tenant, to (A) take
possession of the Premises in accordance with Section 19.2 above; or (B) exercise its rights under Article 27 above. Upon entry, Landlord shall take such steps as are reasonably required to minimize to the extent
reasonably possible interference with the use of the Premises by Tenant, and shall comply with Tenant’s reasonable security and safety requirements, including, as reasonably requested by Tenant, to be accompanied by a Tenant representative.
Landlord shall at all times have a key with which to unlock all the entry doors in or on the Premises. In an emergency, Landlord shall have the right to use any means Landlord may reasonably deem proper to open the doors in and to the Buildings. Any
entry into the Premises by Landlord as provided herein shall not be deemed to be a forcible or unlawful entry into or detainer of, or a constructive eviction of Tenant from, any portion of the Premises, and Tenant shall not be entitled to any
damages or abatement of Rent in connection with such entry. 
 ARTICLE 29 

TENANT PARKING 
 Tenant shall have the right to park in the Project’s parking facilities (the “Parking Facilities”) upon the terms and conditions contained in this Article 29. In
addition, although no such fees, charges, or legal restrictions are currently imposed or to Landlord’s knowledge, threatened, (A) Tenant shall pay to Landlord any new fees, taxes or other charges imposed by the Regional Air Quality Control
Board or any other governmental or quasi-governmental agency in connection with the Tenant’s use of Parking Facilities, and (B) Landlord shall not be liable to Tenant, nor shall this Lease be affected, if any parking is impaired by (or any
parking charges are imposed as a result of) any Law. Tenant’s use of the Parking Facilities shall be at Tenant’s sole risk, and Landlord shall have no liability for any personal injury or damage to or theft of any vehicles or other
property occurring in the Parking Facilities or otherwise in connection with any use of the Parking Facilities by Tenant, its employees or invitees not caused by Landlord’s gross negligence or willful misconduct. Tenant’s parking rights
under this Article 29 are solely for the benefit of Tenant’s employees and guests and such rights may not be transferred without Landlord’s prior written approval, except pursuant to a Transfer permitted under
Article 14 above. 
 ARTICLE 30 
 MISCELLANEOUS PROVISIONS 

30.1      Interpretation.  The words “Landlord”
and “Tenant” as used herein shall include the plural as well as the singular. The captions of Articles and Sections are for convenience only and shall not affect the interpretation of such Articles and Sections. As used in this
Lease, the terms “herein,” “hereof,” “hereto” and “hereunder” refer to this Lease and wherever the words “include,” “includes” or “including” are used in this Lease, they shall be
deemed, as the context indicates, to be followed by the words “but (is/are) not limited to”. Any reference herein to “any part” or “any portion” of the Premises, the Buildings, the Project or any other property shall be
construed to refer to all or any part of such property. Wherever this Lease requires Tenant to comply with any Law, rule, regulation, program, procedure or other requirement or prohibits Tenant from engaging in any particular conduct, this Lease
shall be deemed also to prevent each of its employees, licensees, invitees and subtenants, and any other person claiming by, through or under Tenant, from taking an action which will cause Tenant not to comply with such requirement or which will
cause Tenant to have engaged (or legally be deemed to have engaged) in any such prohibited conduct, as the case may be. Wherever this Lease requires Landlord to provide a customary service or to act in a reasonable manner (whether in incurring an
expense, establishing a rule or regulation, providing an approval or consent, or performing any other act), this Lease shall be deemed also to provide that whether such service is customary or such conduct is reasonable shall be determined by
reference to the practices of owners of buildings that are comparable to the Buildings in size, age, class, quality and location. Tenant waives the benefit of any rule that a written agreement shall be construed against the drafting party.

 30.2      Binding Effect.  The provisions of this
Lease, including the waivers of subrogation set forth in Section 10.5, shall, as the case may require, bind or inure to the benefit of the respective successors and assigns of Landlord and Tenant, provided that this clause shall not
permit any assignment by Tenant contrary to the provisions of Article 14 above. 

  
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 30.3      No Air
Rights.  No rights to any view or to light or air over any property, whether belonging to Landlord or any other person, are granted to Tenant by this Lease. If at any time any windows of the Premises are temporarily darkened or the
light or view therefrom is obstructed by reason of any repairs, improvements, maintenance or cleaning in or about the Project, the same shall be without liability to Landlord and without any reduction of Tenant’s obligations under this Lease.

 30.4      Intentionally Omitted 

30.5      Transfer of Landlord’s Interest.  Landlord shall
have the right to transfer all or any portion of its interest in the Project or Building and in this Lease, and, in the event of any such transfer (which transfer shall include the Security Deposit and/or any Letter of Credit), Landlord shall
automatically be released from, Tenant shall look solely to the transferee for the performance of, and the transferee shall be deemed to have assumed, all of Landlord’s obligations arising hereunder after the date of such transfer (including
the return of any Security Deposit and/or any Letter of Credit), and Tenant shall attorn to the transferee as provided in Article 18 above. 
 30.6      Prohibition Against Recording.  Concurrently with the execution of this Lease and conditioned upon delivery by Tenant to Landlord’s
legal counsel in trust (for recordation upon termination of this Lease) of a quitclaim deed in the form attached hereto as Exhibit I-2, the parties shall execute and acknowledge (and Tenant shall have the right, at its sole cost
and expense, to record) a Memorandum of this Lease in the form attached hereto as Exhibit I-1. Subject to the foregoing, neither this Lease nor any memorandum, affidavit or other writing with respect thereto shall be recorded by
Tenant or by anyone acting through, under or on behalf of Tenant. 

30.7      Landlord’s Title.  Subject to the terms of this
Lease, Landlord’s title is and always shall be paramount to the title of Tenant. Nothing contained herein shall empower Tenant to do any act that can encumber the title of Landlord. 

30.8      Relationship of Parties.  Nothing in this Lease shall be
construed to create the relationship of principal and agent, partnership, joint venturer or any association between Landlord and Tenant. 
 30.9      Application of Payments.  Landlord shall have the right to apply payments received from Tenant pursuant to this Lease, regardless of
Tenant’s designation of such payments, to satisfy any obligations of Tenant hereunder, in such order and amounts as Landlord may elect in its sole and absolute discretion. 

30.10    Time of Essence.  Time is of the essence with respect to the
performance of every provision of this Lease in which time of performance is a factor. 

30.11    Partial Invalidity.  If any provision of this Lease is to any extent
invalid or unenforceable, the remainder of this Lease, or the application of such provision to persons or circumstances other than those with respect to which it is invalid or unenforceable, shall not be affected thereby, and every other provision
of this Lease shall be valid and enforceable to the fullest extent permitted by Law. 

30.12    Covenant of Quiet Enjoyment.  Landlord covenants that so long as
Tenant performs all of its obligations hereunder, Tenant shall have peaceful and quiet possession of the Premises against any party claiming by, through or under Landlord, subject to the terms hereof. The foregoing covenant is in lieu of any other
covenant of quiet enjoyment express or implied. 
 30.13    Entire
Agreement.  This Lease and the attached exhibits, which are incorporated into and made a part of this Lease, set forth the entire agreement between the parties with respect to the leasing of the Premises and supersede and cancel
all previous negotiations, arrangements, communications, agreements and understandings, if any, between the parties hereto (none of which shall be used to interpret this Lease). Tenant acknowledges that in entering into this Lease it has not relied
on any representation, warranty or statement, whether oral or written, not expressly set forth herein. This Lease can be modified only by a written agreement signed by the parties hereto. 

30.14    Intentionally Omitted 

30.15    Force Majeure.  If either party is prevented from performing any of
its obligations hereunder as a result of any strike; lockout; labor dispute; act of God, war or terrorism; inability to obtain services, labor or materials (or reasonable substitutes therefor); governmental action; civil commotion; fire or other
casualty; or other cause beyond the reasonable control of such party, other than financial inability (collectively, a “Force Majeure”), then, notwithstanding anything to the contrary in this Lease, such obligation shall be excused
during the period of such prevention, and if this Lease specifies a time period for the performance of such obligation, such time period shall be extended by the period of such 

  
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prevention; provided, however, that nothing in this Section 30.15 shall (a) permit Tenant to holdover in the Premises after the expiration or earlier termination of this Lease,
(b) excuse any obligation to pay Rent, (c) excuse any of Tenant’s obligations under Article 5 or 21 above or Section 30.18.1.2 or 30.18.1.3 below, or (d) excuse Landlord’s or
Tenant’s obligations under Section 25.2 or the Tenant Work Letter if the failure to perform such obligations would result in an emergency situation, resulting in an imminent threat to life or safety of any persons or material damage
to property, or a situation that would materially and adversely affect the condition of the Buildings or the Building Systems or Tenant’s use and occupancy of the Premises. 

30.16    Notices.  Except for the email notice expressly allowed by the Work
Letter, all notices, demands, statements, designations, approvals or other communications (collectively, “Notices”) given or required to be given by either party to the other hereunder or by Law shall be in writing, and shall be
(A) delivered by a nationally recognized courier service, or (C) delivered personally. Any Notice shall be sent or delivered to the address set forth in Section 9 (if Tenant is the recipient) or Section 10 (if
Landlord is the recipient) of the Summary, or to such other place (other than a P.O. box) as the recipient may from time to time designate in a Notice to the other party. Any Notice shall be deemed to be received on the earlier to occur of the
date of actual delivery or the date on which delivery is refused, or, if Tenant is the recipient and has vacated its notice address without providing a new notice address, three (3) days after the date the Notice is deposited with a courier
service in the manner described above. 
 30.17    Joint and
Several.  If there is more than one Tenant, the obligations imposed upon Tenant under this Lease shall be joint and several. 
 30.18    Representations and Warranties. 
 30.18.1 Tenant represents, warrants and covenants as follows: 

30.18.1.1    If Tenant is not a natural person, then (a) Tenant has full power and authority to
execute, deliver and perform its obligations under this Lease, and each person signing on behalf of Tenant is authorized to do so; and (b) Tenant is duly organized, validly existing and in good standing under the laws of the state of its
formation and qualified to do business in the state of California. 
 30.18.1.2    Tenant
has not, and at no time during the Lease Term will have, (a) made a general assignment for the benefit of creditors, (b) filed any voluntary petition in bankruptcy or suffered for a period of more than 60 days, the filing of an involuntary
petition by any creditors, (c) suffered the appointment of a receiver to take possession of all or substantially all of its assets for a period of more than 60 days, (d) suffered the attachment or other judicial seizure of all or
substantially all of its assets, or (e) made an offer of settlement, extension or composition to its creditors generally. 
 30.18.1.3    Tenant is not, and at no time during the Lease Term will be, (a) in violation of any Anti-Terrorism Law (defined below); (b) conducting any business or engaging
in any transaction or dealing with any Prohibited Person (defined below), including the making or receiving of any contribution of funds, goods or services to or for the benefit of any Prohibited Person; (c) dealing in, or otherwise engaging in
any transaction relating to, any property or interests in property blocked pursuant to Executive Order No. 13224 (defined below); or (d) engaging in or conspiring to engage in any transaction that evades or avoids, or has the purpose of
evading or avoiding, or attempts to violate any of the prohibitions set forth in, any Anti-Terrorism Law. Neither Tenant nor any of its Affiliates, officers, directors, shareholders, partners, members or lease guarantors is, or at any time during
the Lease Term will be, a Prohibited Person. As used herein, “Anti-Terrorism Law” means any Law relating to terrorism, anti-terrorism, money-laundering or anti-money laundering activities, including the United States Bank Secrecy
Act, the United States Money Laundering Control Act of 1986, Executive Order No. 13224, and Title 3 of the USA Patriot Act (defined below), and any regulations promulgated under any of them, each as may be amended from time to time. As
used herein, “Executive Order No. 13224” means Executive Order No. 13224 on Terrorist Financing effective September 24, 2001, and relating to “Blocking Property and Prohibiting Transactions With Persons Who
Commit, Threaten to Commit, or Support Terrorism,” as may be amended from time to time. As used herein, “Prohibited Person” means (1) a person or entity that is listed in, or owned or controlled by a person or entity that
is listed in, the Annex to Executive Order No. 13224; (2) a person or entity with whom Landlord is prohibited from dealing or otherwise engaging in any transaction by any Anti-Terrorism Law; or (3) a person or entity that is named as
a “specially designated national and blocked person” on the most current list published by the U.S. Treasury Department Office of Foreign Assets Control at its official website, http://www.treas.gov/ofac/t11sdn.pdf, or at any replacement
website or other official publication of such list. As used herein, “USA Patriot Act” means the “Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001”
(Public Law 107-56). 
 30.18.2 Landlord represents, warrants and covenants that (a) Landlord has full
power and authority to execute, deliver and perform its obligations under this Lease, and each person signing on behalf of Landlord is authorized to do so, and no other consent or signature is required to make this Lease

  
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binding upon Landlord and the Project in accordance with its terms; and (b) Landlord is duly organized, validly existing and in good standing under the laws of the state of its formation and
qualified to do business in the state of California. 
 30.19    Attorneys’
Fees.    In any lawsuit, action, arbitration, quasi-judicial proceeding, administrative proceeding or other proceeding brought by either party to interpret this Lease or enforce such party’s rights or remedies under
this Lease, the prevailing party shall be entitled to reasonable attorneys’ fees and all costs, expenses and disbursements in connection with such action or proceeding, including all costs of expert consultation and other reasonable
investigation, which sums may be included in any judgment or decree entered in such action or proceeding in favor of the prevailing party. In addition, Tenant shall pay all reasonable attorneys’ fees and other fees and costs, including costs of
expert consultation and other reasonable investigation, that Landlord incurs in any voluntary or involuntary bankruptcy case, assignment for the benefit of creditors, or other insolvency, liquidation or reorganization proceeding involving Tenant or
this Lease, including all motions and proceedings regarding relief from automatic stay, lease assumption or rejection and/or extensions of time related thereto, lease designation, use of cash collateral, claim objections, and disclosure statements
and plans of reorganization. 
 30.20    Governing Law; WAIVER OF TRIAL BY
JURY. 
 30.20.1    This Lease shall be construed and enforced in accordance with
the Laws of the State of California. 
 30.20.2  THE PARTIES HEREBY WAIVE, TO THE FULLEST EXTENT
PERMITTED BY LAW, THE RIGHT TO TRIAL BY JURY IN ANY LITIGATION ARISING OUT OF OR RELATING TO THIS LEASE, THE RELATIONSHIP OF LANDLORD AND TENANT, TENANT’S USE OR OCCUPANCY OF THE PREMISES, AND/OR ANY CLAIM FOR INJURY OR DAMAGE OR ANY EMERGENCY
OR STATUTORY REMEDY. IF THE JURY WAIVER PROVISIONS OF THIS SECTION 30.20.2 ARE NOT ENFORCEABLE UNDER CALIFORNIA LAW, THEN THE FOLLOWING PROVISIONS SHALL APPLY. It is the desire and intention of the parties to agree upon a mechanism and
procedure under which controversies and disputes arising out of this Lease or related to the Premises will be resolved in a prompt and expeditious manner. Accordingly, except with respect to actions for unlawful or forcible detainer or with respect
to the prejudgment remedy of attachment, any action, proceeding or counterclaim brought by either party hereto against the other (and/or against its officers, directors, employees, agents or subsidiaries or affiliated entities) on any matters
arising out of or in any way connected with this Lease, Tenant’s use or occupancy of the Premises and/or any claim of injury or damage, whether sounding in contract, tort, or otherwise, shall be heard and resolved by a referee under the
provisions of the California Code of Civil Procedure, Sections 638 — 645.1, inclusive (as same may be amended, or any successor statute(s) thereto) (the “Referee Sections”). Any fee to initiate the judicial reference
proceedings and all fees charged and costs incurred by the referee shall be paid by the party initiating such procedure (except that if a reporter is requested by either party, then a reporter shall be present at all proceedings where requested and
the fees of such reporter – except for copies ordered by the other parties – shall be borne by the party requesting the reporter); provided however, that allocation of the costs and fees, including any initiation fee, of such proceeding
shall be ultimately determined in accordance with Section 30.19 above. The venue of the proceedings shall be in the county in which the Premises are located. Within 10 days of receipt by any party of a written request to resolve any
dispute or controversy pursuant to this Section 30.20.2, the parties shall agree upon a single referee who shall try all issues, whether of fact or law, and report a finding and judgment on such issues as required by the Referee
Sections. If the parties are unable to agree upon a referee within such 10-day period, then any party may thereafter file a lawsuit in the county in which the Premises are located for the purpose of appointment of a referee under the Referee
Sections. If the referee is appointed by the court, the referee shall be a neutral and impartial retired judge with substantial experience in the relevant matters to be determined, from Jams/Endispute, Inc., the American Arbitration Association or
similar mediation/arbitration entity. The proposed referee may be challenged by any party for any of the grounds listed in the Referee Sections. The referee shall have the power to decide all issues of fact and law and report his or her decision on
such issues, and to issue all recognized remedies available at law or in equity for any cause of action that is before the referee, including an award of attorneys’ fees and costs in accordance with this Lease. The referee shall not, however,
have the power to award punitive damages, nor any other damages that are not permitted by the express provisions of this Lease, and the parties hereby waive any right to recover any such damages. The parties shall be entitled to conduct all
discovery as provided in the California Code of Civil Procedure, and the referee shall oversee discovery and may enforce all discovery orders in the same manner as any trial court judge, with rights to regulate discovery and to issue and enforce
subpoenas, protective orders and other limitations on discovery available under California Law. The reference proceeding shall be conducted in accordance with California Law (including the rules of evidence), and in all regards, the referee shall
follow California Law applicable at the time of the reference proceeding. The parties shall promptly and diligently cooperate with one another and the referee, and shall perform such acts as may be necessary to obtain a prompt and expeditious
resolution of the dispute or controversy in accordance with the terms of this Section 30.20.2. In this regard, the parties agree that the parties and the referee shall use best efforts to

  
 41 

 
ensure that (a) discovery be conducted for a period no longer than 6 months from the date the referee is appointed, excluding motions regarding discovery, and (b) a trial date be set
within 9 months of the date the referee is appointed. In accordance with Section 644 of the California Code of Civil Procedure, the decision of the referee upon the whole issue must stand as the decision of the court, and upon the filing
of the statement of decision with the clerk of the court, or with the judge if there is no clerk, judgment may be entered thereon in the same manner as if the action had been tried by the court. Any decision of the referee and/or judgment or other
order entered thereon shall be appealable to the same extent and in the same manner that such decision, judgment, or order would be appealable if rendered by a judge of the superior court in which venue is proper hereunder. The referee shall in
his/her statement of decision set forth his/her findings of fact and conclusions of law. The parties intend this general reference agreement to be specifically enforceable in accordance with the Code of Civil Procedure. Nothing in this
Section 30.20.2 shall prejudice the right of any party to obtain provisional relief or other equitable remedies from a court of competent jurisdiction as shall otherwise be available under the Code of Civil Procedure and/or applicable
court rules. 
 30.20.3 IN ANY ACTION OR PROCEEDING ARISING FROM THIS LEASE, LANDLORD AND TENANT HEREBY CONSENT
TO (I) THE JURISDICTION OF ANY COMPETENT COURT WITHIN THE STATE OF CALIFORNIA, AND (II) SERVICE OF PROCESS BY ANY MEANS AUTHORIZED BY CALIFORNIA LAW. 
 30.20.4 THE PROVISIONS OF THIS SECTION 30.20 SHALL SURVIVE THE EXPIRATION OR EARLIER TERMINATION OF THIS LEASE. 

30.21    Submission of Lease.    Submission of this instrument for
examination or signature by Tenant or Landlord does not constitute an option or offer to lease, and this instrument is not effective, as a lease or otherwise, until execution and delivery by both Landlord and Tenant. 

30.22    Brokers.  Tenant represents to Landlord that it has dealt only with
the Broker, as its broker in connection with this Lease. Tenant shall indemnify, defend, and hold Landlord harmless from all claims of any brokers, other than Tenant’s Broker, claiming to have represented Tenant in connection with this Lease.
Landlord shall indemnify, defend and hold Tenant harmless from all claims of any brokers, including the Broker, claiming to have represented Landlord in connection with this Lease. Tenant acknowledges that any Affiliate of Landlord that is involved
in the negotiation of this Lease is representing only Landlord, and that any assistance rendered by any agent or employee of such Affiliate in connection with this Lease or any subsequent amendment or other document related hereto has been or will
be rendered as an accommodation to Tenant solely in furtherance of consummating the transaction on behalf of Landlord, and not as agent for Tenant. Landlord shall pay all commissions and compensation (and Tenant shall have no liability for any
commission or compensation) owing to the Broker in connection with this Lease. 

30.23    Independent Covenants.  This Lease shall be construed as though the
covenants herein between Landlord and Tenant are independent and not dependent, and Tenant hereby waives the benefit of any Law to the contrary and agrees that, except as otherwise expressly provided in this Lease, if Landlord fails to perform its
obligations hereunder, Tenant shall not be entitled to make any repairs or perform any other acts hereunder at Landlord’s expense or to set off any Rent against Landlord. 

30.24    Project Name and Signage.  Without Landlord’s prior written
consent, Tenant shall not use the name of the Project in advertising or other publicity or for any purpose other than as the address of the business to be conducted by Tenant in the Premises. 

30.25    Counterparts.  This Lease may be executed in counterparts with the
same effect as if both parties had executed the same document. Both counterparts shall be construed together and shall constitute a single lease. 
 30.26    Reasonable Consent.  Whenever this Lease requires an approval, consent, determination, selection or judgment by either Landlord or Tenant, unless
another standard is expressly set forth, such approval, consent, determination, selection or judgment and any conditions imposed thereby shall be reasonable and shall not be unreasonably withheld or delayed. 

30.27    No Violation.  Tenant represents and warrants that neither its
execution of nor its performance under this Lease will cause Tenant to be in violation of any agreement or Law binding upon Tenant. Landlord represents and warrants that neither its execution of nor its performance under this Lease will cause
Landlord to be in violation of any agreement or Law binding upon Landlord. 

30.28    Communications and Computer Lines.  Tenant may install, maintain,
replace, remove or use any communications or computer wires and cables serving the Premises (collectively, the “Lines”), provided that (i) Tenant shall use an experienced and qualified contractor and comply with all provisions
of Articles 7 and 8 above; (ii) the Lines (including riser cables) installed by Tenant shall be appropriately 

  
 42 

 
insulated to prevent excessive electromagnetic fields or radiation and shall be surrounded by a protective conduit reasonably acceptable to Landlord; and (iii) any new Lines installed by
Tenant shall comply with all applicable Laws. Unless otherwise instructed by Landlord (by notice to Tenant), Tenant shall, at its expense, before the expiration or earlier termination of this Lease, remove any Lines located in or serving the
Premises and repair any resulting damage. 
 30.29    Transportation
Management.  Tenant shall comply with all present or future programs imposed by applicable Law that are intended to manage parking, transportation or traffic in and around the Project and/or the Buildings, and, in connection
therewith, Tenant shall take responsible action for planning and managing the transportation of all employees located at the Premises by working directly with any governmental transportation management organization or any other
transportation-related governmental or quasi-governmental committees or entities. 
 [The remainder of this page has been
intentionally left blank] 

  
 43 

 IN WITNESS WHEREOF, Landlord and Tenant have caused this Lease to be
executed the day and date first above written. 
  

					
	 LANDLORD:

	
	CA-SUNNYVALE BUSINESS CENTER LIMITED PARTNERSHIP, a Delaware limited
partnership
		
	 By:
	 	EOP OWNER GP L.L.C., a Delaware limited liability company, its general partner
			
		 	 By:
	 	 /s/ John Moe

			
		 	 Name:
	 	 John Moe

			
		 	 Title:
	 	 Managing
Director

					
			
	 TENANT:
	 		 	
	
	 TELENAV, INC.,

a Delaware corporation

		
	 By:
	 	 /s/ HP Jin

		
	 Name:
	 	 HP Jin

		
	 Title:
	 	 CEO / President

		 	[chairman, president or vice-president]

					
		
	 By:
	 	 /s/ Douglas S. Miller

		
	 Name:
	 	 Douglas S. Miller

		
	 Title:
	 	 CFO

		 	[secretary, assistant secretary, chief financial officer or assistant treasurer]

  
 44 

 EXHIBIT A 

SUNNYVALE BUSINESS CENTER 
 OUTLINE OF PREMISES 
 920, 930 & 950 DeGuigne Drive, Sunnyvale,
CA 
 

 

 EXHIBIT B 

SUNNYVALE BUSINESS CENTER 
 TENANT WORK LETTER 
 This Tenant Work Letter
(“Work Letter”) is an integral part of the Lease dated as of June 28, 2011 (“Lease”), by and between CA-SUNNYVALE BUSINESS CENTER LIMITED
PARTNERSHIP, a Delaware limited partnership (“Landlord”), and TELENAV, INC., a Delaware corporation (“Tenant”), relating to
certain Premises described therein, and except where clearly inconsistent or inapplicable, the provisions of the Lease are incorporated into this Agreement. In the event of any inconsistency between the terms of this Agreement and the Lease, this
Agreement will prevail with respect to any matter arising in connection with the Tenant Improvements. In all other cases, the Lease shall prevail. Capitalized terms used in this Work Letter not otherwise defined herein shall have the meaning given
such terms in the Lease and, without limiting the foregoing, the following terms shall have the following meanings: “Tenant Improvements” means the initial alterations, additions and improvements to be constructed by Tenant in the
Buildings pursuant to this Work Letter; and “Tenant Improvement Work” means the construction of the Tenant Improvements, together with any related work (including demolition, but excluding the Landlord’s Work) that is necessary
to construct the Tenant Improvements. 
 Landlord and Tenant agree as follows with respect to the Tenant
Improvements and Landlord’s Work: 
  

	1	ALLOWANCE. 

 1.1        Allowance. 
 1.1.1    Initial Allowance.    Tenant shall be entitled to a one-time tenant improvement allowance (the “Initial Allowance”) in the
amount of Seven Million Three Hundred Sixty Dollars ($7,000,360.00) (i.e., $40.00 per rentable square foot of the Premises) to be applied toward the Allowance Items (defined in Section 1.2 below) and allocated among the Buildings as
follows (each, as applicable, the “Building Allowance”): 
  

			
	920 DeGuigne Drive	  	$1,745,070.00
		
	930 DeGuigne Drive	  	$1,371,720.00
		
	950 DeGuigne Drive	  	$1,583,000.00

 The remainder of the Allowance, equal to $2,300,570.00 (“Unallocated
Allowance”), may be applied to any of the Allowance Items, without regard to any particular Building. 

1.1.2    Additional Allowance.    Subject to the terms and
conditions set forth in this Section 1.1.2, Tenant shall be entitled to request an additional one-time tenant improvement allowance (the “Additional Allowance”) in an amount not to exceed Six Hundred Forty-Six Thousand
Four Hundred Twenty-Five Dollars ($646,425.00) pursuant to a written notice delivered to Landlord from time to time, but not later than the following: with respect to the 920 DeGuigne Building and the 950 DeGuigne Building, the first
anniversary of the Lease Commencement Date; and with respect to the 930 DeGuigne Building, the third anniversary of the Lease Commencement Date. The Initial Allowance and any Additional Allowance are, collectively, herein referred to as the
“Allowance”. In the event Tenant exercises its right to use all or any portion of the Additional Allowance, the monthly installments of Base Rent payable by Tenant under the Lease shall increase by the total amount of the Additional
Allowance contributed by Landlord amortized on a straight-line basis over the remaining number of months of the Initial Lease Term following the disbursement of the Additional Allowance amount pursuant to Tenant’s request at an interest rate
equal to eight percent (8%) per annum. In no event shall Landlord be obligated to make disbursements for the Tenant Improvement Work applicable to any particular Building in a total amount which exceeds the Building Allowance applicable to such
Building as provided in Section 1.1.1 above, except to the extent of any remaining Unallocated Allowance; and, further, in no event shall the total amount that Landlord is obligated to disburse for the Tenant Improvement Work pursuant to
this Tenant Work Letter exceed the Allowance. 
 1.1.3    As Is
Condition.    Except for the Allowance, the Landlord’s Work described in Section 4 below and on Exhibit B-1, the limited warranty provided by Landlord pursuant to Section 1.1.2
of the Lease, and except as may otherwise be expressly provided in the Lease, Tenant agrees to accept the Buildings and Exterior Areas in their condition and configuration existing on the date hereof, without any obligation of Landlord to provide or
pay for any other work or services related to the initial improvement of the Premises for Tenant’s use, and without any representation or warranty regarding the condition of 

  
 Exhibit B

 1 

 
the Buildings or Exterior Areas for their suitability or the conduct of Tenant’s business. Without limiting the foregoing, Tenant acknowledges and agrees that, upon the Premises Delivery
Date, repairs or replacements may be required to be performed in or to the Buildings, or any of them, to place the Buildings in good condition and repair and/or that there may be upgrades, improvements or replacements in or to the Project required
to be performed to correct violations of applicable Laws, and that, except for the Landlord’s Work, except for the limited warranty provided by Landlord pursuant to Section 1.1.2 of the Lease, and except for Landlord’s
obligations relating to the Base Building in Section 7.2 of the Lease or as otherwise may be expressly provided in the Lease, Landlord’s payment of the Allowance is being made in consideration of Tenant’s express assumption of
the obligation to perform any and all such repairs, replacements, upgrades or improvements in accordance with the Lease. 
 1.2      Disbursement of Allowance. 
 1.2.1    Allowance Items.  Except as otherwise provided in this Work Letter, the Allowance shall be disbursed by Landlord only for the following items (the
“Allowance Items”): (a) the fees and expenses of the Architect (defined in Section 2.1 below) and the Engineers (defined in Section 2.1 below), which fees, notwithstanding any contrary provision of this
Agreement, shall not exceed Seven Hundred Fifty Thousand Dollars ($750,000.00); provided, however, that the fees and expenses of any design-build subcontractors shall not be subject to the foregoing cap, but rather shall be included as an Allowance
Item pursuant to clause (g) below; (b) plan-check, permit, license fees and other charges by governmental or quasi-governmental authorities relating to performance of the Tenant Improvement Work or obtaining Permits (as defined in
Section 2.4 below); (c) premiums for Builder’s All Risk insurance to be carried by Tenant; (d) the reasonable out-of-pocket fees paid to any construction manager or consultant retained by Tenant in connection with the
Tenant Improvement Work; (e) after hours charges, testing and inspection costs; (f) hoisting and trash removal costs; (g) the hard and soft cost (exclusive of the fees and expenses of the Architect and Engineers described in
clause (a) above) of performing the Tenant Improvement Work, including, without limitation, all payments to Tenant’s contractors for labor, material, equipment, fixtures, design-build improvements, insurance, and contractors’ fees and
general conditions; and any utility expenses and other expenses payable by Tenant under the terms of Section 2.2 of the Lease; (h) the cost of any change to the base, shell or core of the Buildings required by the Plans (including
if such change is due to the fact that such Plans are prepared during a period that the Buildings are unoccupied), including all direct architectural and/or engineering fees and expenses incurred in connection therewith; (i) all cost of work to
place 950 DeGuigne in an unoccupied or shell condition; (j) all cost of fitting-out 950 DeGuigne with interior improvements required by any subtenant or Tenant; (k) the cost of any change to the Plans or Tenant Improvements
required by Law; (l) the Coordination Fee (defined in Section 3.2.2 below) and any other sum payable by Tenant to Landlord under the terms of this Tenant Work Letter and, with respect to any Tenant Improvements, or Tenant’s
proposed use of any Tenant Improvements, that could adversely affect the Base Building or any Building Systems or that could impact the environmental condition of the Project, or any portion thereof, any reasonable out-of-pocket fees paid by
Landlord to third-party consultants for review of the Plans (defined in Section 2.1 below); (m) sales and use taxes; (n) Tenant’s moving costs, (o) the cost of purchasing and installing Lines in the Premises; (p) the
cost of purchasing and installing cubicles and other general office equipment; (q) reasonable costs to redesign or reconstruct any Tenant Improvements required to place the Premises in good condition and repair (other than the Required Delivery
Condition); and (r) such other items as shall be approved by Landlord in its reasonable discretion; provided, however, that the maximum amount of the Allowance that may be applied to the Allowance Items described in clauses (n) and
(p) shall be $7.00 per rentable square foot of the Premises, and such amount shall be disbursed by Landlord only if, after the completion of the Tenant Improvements in accordance with the Approved Construction Drawings, and the payment of any
Final Retention pursuant to Section 1.2.2.2 below, any amount of the Allowance remains undisbursed and unallocated. 

Notwithstanding anything to the contrary in this Agreement or the Lease, Allowance Items shall not include, and Landlord shall be solely
responsible for (and if Tenant incurs such cost, will reimburse the same to Tenant in addition to the Allowance) the following: (i) all costs incurred in connection with the design, permitting and performance of Landlord’s Work,
(ii) costs for which Landlord receives reimbursement from others, including pursuant to warranties or guaranties, and Landlord shall use commercially reasonable efforts to secure any reimbursements to which it is entitled; provided, however,
that if and to the extent that Landlord receives reimbursement from others for costs that have previously been paid for by Tenant as an Allowance Item, then the amount of such reimbursement shall be added to the Initial Allowance and disbursed to
Tenant in accordance with Section 1.2.2 below, (iii) costs associated with investigation, removal, monitoring or remediation of Hazardous Substances existing on or about the Premises or the soil, groundwater, surface water, ambient
air, or building materials thereof on the effective date of the Lease, except to the extent such costs arise from the negligence or willful misconduct of Tenant or any Tenant Party; and (iv) subject to the terms and conditions set forth in
Section 1.1.2 of the Lease, all costs to remedy any deficiencies in the Required Delivery Condition on the Premises Delivery Date. 

  
 Exhibit B

 2 

 1.2.2    Disbursement.  Subject
to the provisions of this Work Letter, Landlord shall make monthly disbursements of the Allowance for Allowance Items and shall authorize the release of monies for Tenant’s benefit as follows: 

1.2.2.1  Monthly Disbursements.  If Tenant desires disbursement of any Allowance,
Tenant shall deliver to Landlord (not more often than once per month) the following (“Required Disbursement Documentation”): (i) a request for payment of the Contractor (defined in Section 3.1 below), approved by
Tenant, in AIA G-702/G-703 format or another format reasonably approved by Landlord, together with an updated Schedule of Values indicating the portion of the Tenant Improvement Work completed and the portion not completed as of the date of the
Contractor’s request for payment (collectively, the “Contractor’s Application For Payment”); (ii) a calculation of the portion of the payment due Contractor which is an “Over Allowance Amount” as provided in
Section 3.2.1 below and the portion thereof that is subject to immediate disbursement by Landlord, (iii) invoices or other supporting documentation for any other Allowance Items for which Tenant seeks reimbursement;
(iv) executed conditional mechanic’s lien releases from the Contractor and from its subcontractors and material suppliers of Contractor included in the Contractor’s Application For Payment who have filed preliminary lien notices
(along with unconditional mechanic’s lien releases from Contractor and from such subcontractors and material suppliers with respect to payments made by Landlord pursuant to Tenant’s prior submission of a Contractor’s Application for
Payment hereunder) which shall comply with the appropriate provisions, as reasonably determined by Landlord, of California Civil Code Section 3262(d); and (v) all other information reasonably requested by Landlord to support the
disbursement. Tenant’s request for payment shall constitute Tenant’s representation to Landlord that, without limiting any warranty or other similar claims that Tenant may have against the Contractor under the Contract, Tenant has accepted
and approved for payment the work furnished and/or the materials supplied as set forth in the Contractor’s Application For Payment, and that the amount requested is an Allowance Item that has been incurred by Tenant or is currently owing to
Tenant’s Contractor or an Architect or Engineer (as applicable). On or before the twentieth (20th) day of each calendar month following the month for which Tenant submits to Landlord the Required Disbursement Documentation, Landlord shall
deliver a check for good funds to Tenant (made jointly payable to the Contractor and Tenant with respect to the amounts owing to any Tenant Contractor), in the amount of the lesser of (a) the amount requested from Landlord by Tenant pursuant to
the first sentence of this Section, after taking into account any Over-Allowance Amount payable by Tenant with respect to the Contractor’s Application For Payment (as provided in Section 3.2.1 below), or (b) the amount of any
remaining portion of the Allowance (not including the Final Retention, as defined below), provided that Landlord may withhold from such distribution the requested payments attributable to work that Landlord reasonably determines does not comply with
the Approved Construction Drawings, as amended by change orders approved by Landlord (defined in Section 2.3 below). Landlord’s payment of such amounts shall not be deemed Landlord’s approval or acceptance of the work furnished
or materials supplied as described in Tenant’s payment request. Tenant shall provide in the Contract (as defined in Section 3.2.1 below) that Landlord and Tenant may withhold from each amount otherwise due the Contractor a ten
percent (10%) retention (the aggregate amount of such retentions to be known as the “Final Retention”) until final completion of the Tenant Improvement Work, and that each Contractor’s Application For Payment shall reflect
such ten percent (10%) retention. 
 1.2.2.2  Final Retention.  Subject
to the provisions of this Work Letter, a check for the Final Retention shall be delivered by Landlord to Tenant following the latest to occur of the following: (a) the Substantial Completion of the Tenant Improvement Work; and
(b) Tenant’s delivery to Landlord of (i) properly executed mechanic’s lien releases from the Contractor and all Subcontractors who have filed a preliminary lien notice in compliance with California Civil Code
Sections 3262(d) and 3262(d)(4); (ii) a certificate from the Architect, in a form reasonably acceptable to Landlord, certifying that the Tenant Improvement Work has been substantially completed, and (iii) evidence that all
required governmental approvals required for Tenant to legally occupy the Premises (other than those being withheld solely due to a failure of Landlord to complete the Landlord’s Work) have been obtained; (c) Tenant’s performance of
its obligations under clause (i) of the third sentence of Section 5.5 below; or (d) Tenant’s compliance with Landlord’s standard “close-out” requirements regarding city approvals, closeout tasks, the general
contractor, financial close-out matters, and tenant vendors which are attached hereto as Exhibit B-4. Notwithstanding the foregoing, in accordance with typical “punch list” holdback provisions, Landlord shall be entitled
to retain a portion of the Final Retention until completion of all Punch List Items in an amount Landlord reasonably determines to be sufficient to ensure the Contractor’s prompt completion thereof. 

1.2.2.3  Landlord’s Failure to Fund.    Any Allowance amount not
disbursed to Tenant (or its Contractor) when due pursuant to this Tenant Work Letter shall bear interest for the benefit of Tenant, at the Default Rate from the date due until paid. 

  
 Exhibit B

 3 

 1.2.2.4  Allowance
Disbursement.     Allowance disbursements shall be made first from the Initial Allowance and, only after the Initial Allowance is expended the Additional Allowance. If any portion of the permitted Additional Allowance is
not actually disbursed by Landlord, no additional rent shall be charged to Tenant for such unused portion of the Additional Allowance. 
  

	2	TENANT PLANS. 

 2.1        Selection of Architect/Plans.    Tenant has engaged AAI Design (the “Architect”) and may engage
engineers, who shall be approved by Landlord (which approval shall not be unreasonably withheld or delayed) (the “Engineers”), to prepare all architectural plans for the Tenant Improvement Work and all engineering working drawings
relating to the structural, mechanical, electrical, plumbing, HVAC, life-safety, and sprinkler work included in the Tenant Improvement Work. The plans and drawings to be prepared by the Architect and the Engineers hereunder shall be referred to
herein collectively as the “Tenant Plans.” All Tenant Plans shall (a) comply with the specifications required by Landlord, as set forth in Landlord’s construction rules and regulations attached hereto as Exhibit
B-3, and (b) be subject to Landlord’s approval, which shall not be unreasonably withheld in accordance with Section 2.3 below. Tenant shall cause the Architect to verify, in the field, the dimensions and conditions as
shown on the relevant portions of the Base Building plans, and Landlord shall have no responsibility in connection therewith, in the absence of fraud, gross negligence or intentional misconduct. Landlord’s review of the Tenant Plans and
approval of the Approved Construction Drawings shall be for its sole benefit and shall not create or imply any obligation on the part of Landlord to review the same for Tenant’s benefit, whether with respect to quality, design, compliance with
Law or any other matter. Accordingly, notwithstanding any review of the Tenant Plans by Landlord or any of its space planners, architects, engineers or other consultants, and notwithstanding any advice or assistance that may be rendered to Tenant by
Landlord or any such consultant, in the absence of fraud, gross negligence or intentional misconduct, Landlord shall not be liable for any error or omission in the Tenant Plans or have any other liability relating thereto. Without limiting the
foregoing, but subject to Landlord’s obligation to perform the Landlord’s Work and to remedy any deficiencies in the Required Delivery Condition as provided in the Lease, Tenant shall be responsible for ensuring (x) that all elements
of the design of the Tenant Plans comply with Law and are otherwise suitable for Tenant’s use of the Premises, and (y) that the Tenant Improvement Work does not impair any existing system or structural component of the Buildings, and
Landlord’s approval of the Construction Drawings (defined in Section 2.3 below) shall not relieve Tenant from such responsibility. 
 2.2        Space Plan.    Landlord and Tenant hereby approve the space plan attached hereto as Exhibit B-2 (the
“Approved Space Plan”), which includes a layout and designation of all offices, rooms and other partitioning, their intended use, and major equipment to be contained therein. 

2.3        Construction Drawings.    Tenant
shall cause the Architect and the Engineers to complete the architectural, engineering and final architectural working drawings for the Tenant Improvements in a form that is sufficient to enable a Contractor and its major subcontractors to bid on
the work and to obtain all applicable permits (collectively, the “Construction Drawings”), and shall deliver four (4) copies of the Construction Drawings, signed by Tenant, to Landlord for its approval. Notwithstanding the
foregoing, at Tenant’s option, the Construction Drawings may be prepared in two or more phases (e.g., first the architectural drawings, then engineering drawings consistent with the previously provided architectural drawings, etc.) for
Landlord’s approval. Landlord shall provide Tenant with notice approving or reasonably disapproving (i) any initial rendering of Construction Drawings (or the applicable component thereof) within 15 business days after the later of
Landlord’s receipt thereof or the mutual execution and delivery of this Agreement, and (ii) any resubmission of a Construction Drawing (or the applicable component thereof) within 3 business days after the later of Landlord’s
receipt thereof or the mutual execution and delivery of this Agreement (or as soon thereafter as is reasonably practicable, but not later than 5 business days after Landlord’s receipt thereof). If Landlord disapproves the Construction Drawings
(or any component thereof), Landlord’s notice of disapproval shall describe with reasonable specificity the basis for such disapproval and the changes that would be necessary to resolve Landlord’s objections. If Landlord disapproves the
Construction Drawings (or any component thereof), upon request by Tenant, the parties shall meet and confer in good faith to reach conceptual agreement on the Construction Drawings (or the applicable component thereof); provided, however, that
unless Landlord’s objections are unreasonable, Tenant shall cause the Construction Drawings to be modified to resolve Landlord’s objections (whether directly based on Landlord’s comments or by proposing an alternative solution) and
resubmitted to Landlord for its approval. Landlord shall provide Tenant with notice approving or reasonably disapproving any resubmission of the Construction Drawing (or a component thereof) within 3 business days after Landlord’s receipt
thereof (or as soon thereafter as is reasonably practicable, but not later than 5 business days after Landlord’s receipt thereof). If Landlord disapproves resubmitted Construction Drawings (or a component thereof), Landlord’s notice of
disapproval shall describe with reasonable specificity the basis for such disapproval and the changes that would be necessary to resolve Landlord’s objections and the procedure above shall be repeated as necessary until Landlord has approved
the Construction Drawings (or the applicable component thereof). Tenant shall not commence the Tenant Improvement Work until after the Construction Drawings are 

  
 Exhibit B

 4 

 
approved by Landlord. No revision may be made to the approved Construction Drawings (the “Approved Construction Drawings”) without Landlord’s prior consent, which consent
shall be given or withheld in accordance with the procedure for resubmitted Construction Drawings set forth above. Notwithstanding anything to the contrary in this Work Letter, (a) Landlord’s withholding of consent [*****]1 shall be deemed reasonable [*****] is not consistent with and a
logical evolution of [*****] or would materially and adversely affect [*****] and (b) Landlord’s withholding of consent [*****] shall be deemed reasonable [*****] the planned work shown [*****] (1) is not consistent with and a logical
evolution [*****], (2) would materially and adversely affect [*****] or (3) materially differs from the work approved by Landlord [*****]. 
 2.4        Permits.    Tenant shall submit the Approved Construction Drawings to the appropriate municipal authorities and
otherwise apply for and obtain from such authorities all applicable building permits necessary to allow the Contractor to commence and complete the performance of the Tenant Improvement Work (the “Permits”). Tenant shall coordinate
with Landlord in order to allow Landlord, at its option, to take part in all phases of the permitting process and shall supply Landlord, as soon as possible, with all plan check numbers and dates of submittal; provided, however, Landlord shall not
unreasonably delay the completion of the Tenant Improvement Work as a result of any such participation in the permitting process. Notwithstanding any contrary provision of this Section 2.4, Tenant, and not Landlord or its consultants,
shall be responsible for obtaining any Permit or certificate of occupancy; provided, however, that Landlord shall cooperate with Tenant in executing permit applications and performing other ministerial acts reasonably necessary to enable Tenant to
obtain any Permit or certificate of occupancy; and provided, further, that the foregoing is not intended to relieve Landlord of the obligation to perform Landlord’s Work as required hereunder, including if Landlord’s failure to do so
interferes with Tenant’s obtaining any Permit or certificate of occupancy. Tenant shall not commence construction until all Permits for the Tenant Improvement Work are obtained. 

 

	3	CONSTRUCTION. 

 3.1        Selection of Contractors. 
 3.1.1    The Contractor.    Tenant shall retain a general contractor (the “Contractor”) to perform the Tenant Improvement Work
(i) in and to the 920 DeGuigne Building and 950 DeGuigne Building as soon as reasonably practicable following the Premises Delivery Date, and (ii) in and to the 930 DeGuigne Building not later than the third anniversary of the Lease
Commencement Date. The Contractor shall be selected by Tenant, by notice to Landlord, from a list of general contractors provided by Tenant and approved by Landlord. For purposes of this Section 3.1.1, Landlord’s approval of a
proposed general contractor shall not be considered unreasonably withheld, if such general contractor (a) does not have trade references reasonably acceptable to Landlord, (b) does not maintain insurance as required under the terms of the
Lease, (c) does not provide current financial statements reasonably acceptable to Landlord, or (d) is not licensed as a contractor in the state/municipality in which the Premises is located. Tenant acknowledges that the foregoing is not an
exclusive list of the reasons why Landlord may reasonably disapprove a proposed general contractor. 

3.1.2    Tenant’s Agents.    All subcontractors, laborers,
materialmen and suppliers used by Tenant (such subcontractors, laborers, materialmen, and suppliers, together with the Contractor, to be referred to herein collectively as “Tenant’s Agents”) shall be reputable and qualified in
their respective trades. 
 3.2         Construction.

 3.2.1    Construction Contract; Contractor’s
Budget.    Tenant shall not enter into a construction contract with the Contractor (the “Contract”) unless it complies with Section 3.2.3 below and has been reviewed and approved by Landlord,
which approval shall not be unreasonably withheld. Before commencing construction of the Tenant Improvement Work, Tenant shall deliver to Landlord a detailed breakdown of the schedule of values, by trade, and, to the extent applicable, by Building,
for use pursuant to Section 1.2.1 above (a “Schedule of Values”), of the final costs that will be or have been incurred in connection with the performance of the Tenant Improvement Work and that form the basis for the
amount of the Contract. If the total expected cost of the Tenant Improvement Work as indicated on the Schedule of Values (the “Budgeted Cost”) exceeds the Allowance, or if the total expected cost of the Tenant Improvement Work
applicable to any Building as indicated on the Schedule of Values exceeds the Building Allowance applicable to such Building (after any allocation by Tenant of the Unallocated Allowance to such Building, which allocation shall be set forth in the
Schedule of Values), such amount shall be deemed the “Over-Allowance Amount”. Tenant shall pay directly to Contractor that portion of any Over-Allowance Amount on the Contract as the Contractor’s work progresses, as and when
the Allowance is disbursed by Landlord to the Contractor, in an amount for each such application, equal to 
  

 

[*****] Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange
Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
 Exhibit B

 5 

 
the total amount owing to the Contractor for such Contractor’s Application For Payment pursuant to Section 1.2.1, times a fraction the numerator of which shall be the
Over-Allowance Amount (including as the same may be applicable to the Tenant Improvement Work for any particular Building) and the denominator of which shall be the Budgeted Cost (as the same, if applicable, may relate to the Tenant Improvement Work
for any particular Building). If, after being delivered to Landlord, the Budgeted Cost is modified by a change order, the Over-Allowance Amounts owing by Tenant shall be appropriately adjusted after Tenant obtains Landlord’s approval of, the
documents requiring Landlord’s approval described in clauses (i), (ii), (iii) and (iv) of Section 1.2.2.1 above. 
 3.2.2    Landlord’s General Conditions for Tenant Improvement Work.    The Tenant Improvement Work shall be performed in a good and workmanlike
manner and in strict accordance with the Approved Construction Drawings. Tenant shall abide by Landlord’s Construction Rules. In consideration of Landlord’s coordination of the performance of the Tenant Improvement Work, Tenant shall pay
Landlord a fee (the “Coordination Fee”) in an amount equal to the lesser of (a) 1.5% of the sum of the Contractor’s Budget (as the same may be adjusted for change orders) or (b) 1.5% of the Allowance paid by
Landlord. 
 3.2.3    Warranty of Contractor.    Tenant
shall cause the Contractor to (a) agree to be responsible for (i) the repair, replacement and/or removal, without additional charge, of any portion of the Tenant Improvement Work that is or becomes defective, in workmanship, materials or
otherwise, on or before the date occurring one (1) year after completion of the Tenant Improvement Work, and (ii) the repair of any damage to the Buildings and/or Exterior Areas resulting from such repair, replacement and/or removal. Such
agreement shall be expressly set forth in the Contract and, by its terms, shall inure to the benefit of both Landlord and Tenant as their respective interests may appear, and shall be enforceable by either Landlord or Tenant, (b) reasonably
cooperate with Landlord’s contractor with respect to the scheduling of the Landlord’s Work and the Tenant Improvement Work, and (c) carry the insurance required of Tenant’s contractors pursuant to Section 5.1 below.
Upon Landlord’s request, Tenant shall provide Landlord with any assignment or other assurance that may be necessary to enable Landlord to enforce such agreement directly against the Contractor. 

 

	4.	LANDLORD’S WORK. 

 4.1        Construction.    Without charge to any Allowance and without additional charge to Tenant, Landlord shall cause the
demolition, construction and installation of the items set forth below in a good and workmanlike manner using materials and finishes consistent with and a logical evolution of the plans and specifications attached hereto as Exhibit B-1
(or as the parties shall mutually approve) and in compliance with all applicable Laws (collectively, the “Landlord’s Work”): 
 4.1.1.    The demolition and removal work identified on Exhibit B-1 attached hereto (“Demolition Work”). 

4.1.2    An upgrade, in accordance with the plans and specifications attached hereto as
Exhibit B-1, of the front entrance area for each of the Buildings (including without limitation, new glass and doors) (“Front Entrance Work”). 
 Notwithstanding any contrary provision of this Agreement, Landlord’s Work shall be performed at Landlord’s expense and shall not be deemed Tenant Improvements, Tenant Improvement Work or an
Allowance Item. 
 4.2        Substantial
Completion.    Landlord shall use commercially reasonable efforts to complete (1) the Demolition Work in the 920 DeGuigne Building and 950 DeGuigne Drive within five (5) weeks following the mutual execution and
delivery of this Lease by Landlord and Tenant, (2) the Demolition Work in the 930 DeGuigne Building within six (6) weeks following the mutual execution and delivery of this Lease by Landlord and Tenant, and (3) the remainder of
Landlord’s Work, including the Front Entrance Work, by November 1, 2011 (the foregoing are, collectively, the “Landlord’s Work Deadlines”). The Landlord’s Work for a Building shall be deemed “substantially
completed” when there is no incomplete or defective Landlord Work that materially interferes with (i) Tenant’s completion of the Tenant Improvement Work in such Building, (ii) obtainment of an approved governmental inspection or
occupancy permit for the Building, including without limitation, a final approved inspection for the Tenant Improvements and the Landlord Work for such Building, or (iii) Tenant’s obtaining a working connection to any utility supply system
anticipated by the Approved Construction Drawings for such Building, or (iv) legal use of the Building for general office purposes. Notwithstanding the foregoing, the Landlord’s Work Deadline for a particular Building shall be extended one
day for each day that substantial completion of the Landlord Work for such Building is actually delayed by (a) Tenant’s breach of its obligations under this Tenant Work Letter, which is not corrected within one (1) business day
following delivery of email notice of such breach to Tenant’s Representative (as identified below), (b) Tenant’s request for a change in any of Landlord’s Work (any such change being subject to Landlord’s approval in its
reasonable discretion and, if approved, to be performed at Tenant’s sole cost and expense), 

  
 Exhibit B

 6 

 
provided that the total delay attributable to a change shall not exceed the amount of delay approved in writing by Tenant at the time of its change request, and (c) interference by
Tenant’s Contractor (or any of its subcontractors or supplier) with the performance of such Landlord’s Work which continues for one (1) business day after delivery of email notice to Tenant’s Representative (herein
“Excusable Landlord Delays”). 

4.3        Construction Contract.    The
contract between Landlord and its general contractor (“Landlord’s Construction Contract”) shall expressly inure to the benefit of both Landlord and Tenant, and shall provide that such general contractor will (a) repair,
without additional charge, any portion of the Landlord Work that is or becomes defective in workmanship, materials or otherwise, on or before the date occurring one (1) year after completion of the Landlord Work, (b) repair any damage to
the Buildings, Exterior Areas, and/or Tenant Improvements resulting from (i) the negligence or willful misconduct of the general contractor, its subcontractors or suppliers or from their respective employees, contractors, or invitees, or
(ii) a breach of any contract or material supply agreement by said contractor or its subcontractors or suppliers, and (c) reasonably cooperate with Tenant’s Contractor with respect to the scheduling of the Landlord Work and the Tenant
Improvement Work. 
 4.4        Contractor’s
Warranties.    Tenant waives all claims against Landlord relating to any latent defects in Landlord’s Work. Notwithstanding the foregoing or any contrary provision of the Lease, if, within 11 months after substantial
completion of Landlord’s Work, Tenant provides notice to Landlord of any latent defect in Landlord’s Work, Landlord shall, at its option, either (a) assign to Tenant any right Landlord may have under Landlord’s Construction
Contract to require Landlord’s contractor to correct, or pay for the correction of, such latent defect, or (b) enforce such right directly against Landlord’s contractor for Tenant’s benefit. 

4.5        Tenant’s Right to Perform
Landlord’s Work.    Without limiting Tenant’s other rights provided in this Lease, if Landlord fails to complete Landlord’s Work, or any portion thereof, prior to the applicable Landlord’s Work
Deadlines (as the same may be extended pursuant to Section 4.2 above or by any Force Majeure) or if Landlord fails to perform any repairs required to cause the Premises to be in the Required Delivery Condition, then if (a) such
failure is causing or threatening to cause an actual delay in the completion of the Tenant Improvements or the issuance of any government approvals required for occupancy of the Premises for Tenant’s intended use by December 1 2011, and
(b) such failure [*****] (provided that, if such
default poses an immediate threat to person or property, [*****] under the circumstances shall be required), then if Landlord’s failure [*****] a second written demand from Tenant to Landlord and Security Holder (which demand shall specifically
reference Tenant’s intent to exercise its remedies in this Section 4.5), Tenant may, unless Landlord has commenced and is proceeding with due diligence to cure such failure, perform such work and bill Landlord for the reasonable
cost thereof; provided, however, that [*****] shall not be required if Landlord’s default poses an immediate threat to person or property and if Tenant’s initial default notice to Landlord specifically references Tenant’s intent to
exercise its remedies in this Section 4.5). Landlord shall pay for the reasonable cost of such work, together with interest thereon at the Default Rate from the date of Landlord’s default, [*****], together with reasonable
supporting documentation for such costs. Any such maintenance or repair work performed by Tenant pursuant to this Section 4.5 shall be performed in accordance with the terms and conditions set forth in Article 8 of the Lease;
provided, however, that Tenant may use its Architect, Engineers, and Contractor to design and perform such work, without additional approvals of such parties by Landlord and further provided that if Landlord fails to timely cooperate in the work
performed by Tenant hereunder (or the provisions of Article 8), then Tenant shall be permitted to perform such work using qualified contractors which normally and regularly perform similar work in Comparable Buildings, in a good and
workmanlike manner and in conformance with all applicable Laws. Tenant’s and Landlord’s rights and obligations under this Section 4.5 shall survive the expiration or any earlier termination of this Lease. 

 

	5.	GENERAL PROVISIONS 

 5.1        Insurance Requirements & Damage and Destruction.    Tenant shall carry “Builder’s All Risk”
insurance in an amount approved by Landlord covering the Tenant Improvement Work and the Landlord’s Work. The premiums for such insurance may be charged against the Allowance. If any portion of Landlord’s Work or the Tenant Improvements
being constructed in any Building are damaged or destroyed prior to substantial completion (as defined in Section 6.4 below) thereof, then the provisions of Article 11 of the Lease shall apply with the following amendments:

 5.1.1    The “Landlord Casualty Repairs” shall exclude, and the “Tenant
Casualty Repairs” shall include, the repair and restoration of the damaged or destroyed Tenant Improvements; 
  

 
 [*****]
Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
 Exhibit B

 7 

 5.1.2    Prior to substantial completion of the
Landlord’s Work, or any portion thereof, the “Landlord Casualty Repairs” shall include the repair, restoration and completion of any damaged or destroyed portion of such Landlord’s Work; 

5.1.3    After substantial completion of the Landlord’s Work for any Building, but before
substantial completion of the Tenant Improvement Work for such Building, the “Tenant Casualty Repairs” shall include repair and restoration of such Landlord’s Work in such Building; provided, however that, Landlord shall assign to
Tenant (or to any party designated by Landlord) any insurance proceeds payable to Landlord under Landlord’s Casualty Policy attributable to such repair and restoration, the same shall be deemed “Casualty Receipts” for the purpose of
the Lease, and Tenant shall not be required to expend more than the Casualty Receipts applicable to the Landlord’s Work received by Tenant in order restore and repair of Landlord’s Work; 

5.1.4    The Completion Estimate shall be prepared in consultation with Tenant’s Contractor and
shall constitute a reasonable estimate of the amount of time required, using standard working methods (without the payment of overtime or other premiums) to not only repair and restore the damaged Landlord’s Work and Tenant Improvements, but
also to substantially complete the Landlord’s Work and Tenant Improvements in the affected Building or Buildings; 
 5.1.5    If the Completion Estimate indicates that the Substantial Completion Date for the 920 DeGuigne Building or the 950 DeGuigne Building will not occur within one (1) year
after the date of Tenant’s Casualty Notice, then such damage shall constitute “Substantial Destruction” and the related termination rights of the parties pursuant to Article 11 of the Lease shall apply; and 

5.1.6    In addition to its other rights under Article 11 of the Lease, in the case of damage
or destruction to the Tenant Improvements being constructed in the 920 DeGuigne Building and/or the 950 DeGuigne Building prior to substantial completion thereof, if the reasonably expected cost of the Tenant Casualty Repairs (as so expanded
pursuant to Section 5.1.1 and Section 5.1.3 above) exceeds the total of (1) the Casualty Receipts made available to Tenant for such Tenant Casualty Repairs, plus (2) the Deductibles payable by Tenant with respect to
such Tenant Casualty Repairs, plus (3) the undisbursed portion of the Initial Allowance (a “Tenant Casualty Repair Shortfall”), for reasons other than Tenant’s failure to carry the insurance required by the Lease, then
Tenant may terminate the Lease in its entirety only, by delivery of written notice to Landlord, unless Landlord agrees to increase the Initial Allowance by the amount of the Tenant Casualty Repair Shortfall within thirty (30) days following
delivery to Landlord of Tenant’s exercise of such termination right. If, after substantial completion of the Tenant Improvements in the 920 DeGuigne Building and the 950 DeGuigne Building, there occurs damage or destruction to the Tenant
Improvements being constructed in the 930 DeGuigne Building, and there results a Tenant Casualty Repair Shortfall for reasons other than Tenant’s failure to carry the insurance required by the Lease, then Tenant may terminate the Lease as to
the 930 DeGuigne Building only (but not as to the other Buildings, unless otherwise permitted by Article 11), by delivery of written notice to Landlord, unless Landlord agrees to increase the Initial Allowance by the amount of the Tenant
Casualty Repair Shortfall within thirty (30) days following delivery to Landlord of Tenant’s exercise of such termination right. 
 In the event of any termination by Landlord or Tenant pursuant to this Section, neither party shall have any obligations to the other under the Lease, (1) except for obligations arising before such
termination or obligations that survive the expiration or earlier termination of the Lease, and (2) except that Tenant shall assign to Landlord (or to any party designated by Landlord) all insurance proceeds payable to Tenant under
Tenant’s “Builder’s All Risk” insurance policies with respect to the Tenant Improvements and Landlord’s Work, up to the amount of the Allowance then having been disbursed by Landlord plus the amount necessary to pay any
incurred but unpaid Allowance Items for which Landlord is responsible under this Work Letter, and (3) Landlord shall return any Prepaid Base Rent and Prepaid Additional Rent paid by Tenant to Landlord, and, in accordance Article 22
of the Lease, the Security Deposit. If the Lease is not so terminated by Landlord or Tenant, then (i) the Lease Commencement Date shall not be delayed as a result of any delay in the completion of the Tenant Improvement Work resulting from the
Casualty (though Tenant shall receive an abatement of Monthly Rent following the Lease Commencement Date with respect to the damaged Building(s) in accordance with Section 11.3 of the Lease, and the Base Rent Abatement applicable to the
damaged Building(s) shall not commence until such abatement of Monthly Rent ceases), and (ii) following substantial completion of the Landlord Casualty Repairs, Tenant, at its expense (subject to any remaining portion of the Allowance and the
proceeds from any Builder’s All Risk insurance), shall (x) repair and complete the Tenant Casualty Repairs; provided, however, that if the estimated cost of repairing and restoring the Tenant Improvements and Landlord’s Work exceeds
the amount of insurance proceeds received by Tenant from Tenant’s insurance carrier, Tenant shall not be required to spend more than the amount of such proceeds, provided that the foregoing shall not relieve Tenant from the obligation to carry
the Builder’s All Risk insurance required to be carried by Tenant pursuant to this Section, nor shall the foregoing limit Tenant’s liability if Tenant fails to perform such obligation; and (y) complete the Tenant Improvement Work that
remained to be performed at the time of the Casualty in accordance with this Work Letter. 

  
 Exhibit B

 8 

5.2.        Compliance.    Subject to
Landlord’s obligation to fund the Allowance and complete the Landlord’s Work and to remedy any deficiencies in the Required Delivery Condition as provided in Section 1.1.2 of the Lease: (a) the Tenant Improvement Work
shall comply in all respects with (i) all applicable Laws; (ii) all applicable standards of the American Insurance Association (formerly, the National Board of Fire Underwriters) and the National Electrical Code; and (iii) all
applicable building material manufacturer’s specifications; and (b) without limiting the foregoing, if, as a result of Tenant’s performance of the Tenant Improvement Work, Landlord becomes required under Law to perform any inspection
or give any notice relating to the Premises or the Tenant Improvement Work, or to ensure that the Tenant Improvement Work is performed in any particular manner, then Tenant shall comply with such requirement on Landlord’s behalf, and promptly
thereafter provide Landlord with reasonable documentation of such compliance. 

5.3        Inspection by Landlord or
Tenant.    Notwithstanding any contrary provision of the Lease or this Tenant Work Letter, Landlord, at any time and without notice to Tenant, may enter the Premises to inspect the Tenant Improvement Work. Neither
Landlord’s performance of such inspection nor its failure to perform such inspection shall result in a waiver of any of Landlord’s rights hereunder or be deemed to imply Landlord’s approval of the Tenant Improvement Work. Without in
any way limiting Tenant’s Repair Obligations or the obligations of Tenant set forth in Article 25 of the Lease, if, by notice to Tenant, Landlord reasonably identifies any failure of the Tenant Improvement Work to comply with the Plans
therefore or any Law applicable thereto at the time of issuance of the Permits therefor and notifies Tenant of such fact at any time prior to the 180th day following the Lease Commencement Date with respect to 920 and 950 DeGuigne or at any time
prior to the 180th day following the substantial completion of the initial Tenant Improvements for 930 DeGuigne, or if at any time any governmental authority determines that the Tenant Improvement Work does not comply with the Laws applicable
thereto at the time the Permit is issued, then Tenant shall promptly cause the Contractor to correct such defect at no expense to Landlord. Notwithstanding any contrary provision of this Tenant Work Letter, if a defect in the Tenant Improvements so
identified by Landlord might adversely affect the Base Building or any Building Systems, or might give rise to liability on the part of Landlord to any third party, and Tenant does not undertake to correct the defect within 5 business days following
written notice to Tenant (or, in the event of an emergency, within such period of time as is reasonable under the circumstances and without notice), then (a) Landlord, at Tenant’s expense, may take such action (including suspension of the
Tenant Improvement Work) as Landlord reasonably deems necessary to correct such defect, and (b) until such defect is corrected, Landlord shall have no obligation to disburse any portion of the Allowance in payment of such defective work.

 5.4        Meetings.    Commencing
upon execution of this Tenant Work Letter, Tenant shall hold weekly meetings with the Architect and the Contractor regarding the progress of the preparation of Plans, the obtaining of the Permits, and the performance of the Tenant Improvement Work.
Such meetings shall be held at a location designated by Landlord and at a reasonable time of which Tenant shall provide Landlord with at least three (3) business days’ prior notice. Landlord may attend such meetings, and, upon
Landlord’s request, Tenant shall cause Tenant’s Agents to attend such meetings. Tenant shall cause minutes of such meetings to be prepared and copies thereof to be delivered promptly to Landlord. One such meeting per month shall include a
review of the Contractor’s current request for payment. 

5.5        Additional Covenants.    Within
10 days after completing the Tenant Improvement Work, Tenant shall cause a Notice of Completion to be recorded in the office of the Recorder of the county in which the Project is located, in accordance with California Civil Code
§ 3093 or any successor statute, and shall furnish a copy thereof to Landlord upon such recordation. If Tenant fails to do so, Landlord may execute and file the same on behalf of Tenant as Tenant’s agent for such purpose, at
Tenant’s expense (subject to application of the Allowance as permitted hereunder). Within 30 days after completing the Tenant Improvement Work, (a) Tenant shall cause the Architect and the Contractor to (i) update the Approved
Construction Drawings as necessary to reflect all changes made to the Approved Construction Drawings during the course of construction, (ii) certify to the best of their knowledge that the updated drawings are true and correct, which
certification shall survive the expiration or termination of the Lease, and (iii) deliver to Landlord two (2) CD ROMS of such updated drawings in accordance with Landlord’s CAD Format Requirements (defined below); and
(b) Tenant shall deliver to Landlord copies of all warranties, guaranties, and operating manuals and information required from the Contractor relating to the improvements, equipment, and systems in the Tenant Improvement Work. Tenant’s
cost of preparing such updated drawings and CD ROMS are Allowance Items. Within 30 days after completing the Landlord’s Work, (a) Landlord shall cause its architect and contractor to (i) update any drawing previously provided to
Tenant for any changes in the work shown thereon during the course of construction of Landlord’s Work, and deliver to Tenant two (2) CD ROMS of such updated drawings in accordance with Landlord’s CAD Format Requirements; and
(b) Landlord shall deliver to Tenant copies of all warranties, guaranties, and operating manuals and information relating to the Premises or the Landlord’s Work that are applicable to Tenant’s repair obligations under the Lease. For
purposes hereof, “Landlord’s CAD Format Requirements” shall mean (w) the version is no later than current Autodesk version of AutoCAD plus the most recent release version, (x) files must be unlocked and fully
accessible (no “cad-lock”, read-only, password protected or “signature” files), (y) files must be in “.dwg” format, and 

  
 Exhibit B

 9 

 
(z) if the data was electronically in a non-Autodesk product, then files must be converted into “dwg” files when given to by Landlord. 

 

	6.	MISCELLANEOUS. 

 6.1.        Tenant Default.    Notwithstanding any contrary provision of this Agreement, if this Lease is terminated because
Tenant defaults under this Tenant Work Letter before the Tenant Improvement Work is completed, then (a) Landlord’s obligations under this Work Letter shall be excused, and Landlord may cause the Contractor to cease performance of the
Tenant Improvement Work, until such default is cured, and (b) Tenant shall be responsible for any resulting delay in the completion of the Tenant Improvement Work. 

6.2.        Landlord Approvals.    Whenever
this Tenant Work Letter requires an approval, consent, determination, selection or judgment by either Landlord or Tenant, unless another standard is expressly set forth, such approval, consent, determination, selection or judgment and any conditions
imposed thereby shall be reasonable and shall not be unreasonably withheld. For the purpose of this Tenant Work Letter, either party’s requests for approval, consent, determination, selection or judgment shall be permitted by e-mail delivered
to the following persons on behalf of the parties hereto: 
 “Landlord’s Representative”
is Todd Hedrick and Cameron Quistgard for Landlord at Todd_Hedrick@equityoffice.com and Cameron_Quistgard@equityoffice.com; and 
 “Tenant’s Representative” is James Reimers for Tenant at JamesR@telenav.com and Doug Miller at DougM@telenav.com, or such other person(s) as Tenant may designate by delivery of
written notice. 

6.3        Interference.    Landlord shall use
commercially reasonable efforts to cause Landlord’s Work to be performed in a manner that does not interfere with or delay Tenant’s performance of the Tenant Improvement Work; provided, however, that Landlord shall not be required to delay
performance of, or pay overtime rates for, Landlord’s Work. Tenant shall use commercially reasonable efforts to cause the Tenant Improvement Work to be performed in a manner that does not interfere with or delay Landlord’s performance of
Landlord’s Work. 
 6.4        Substantial Completion
Date.    For purposes of the Lease and, in particular, the determination of the Lease Commencement Date, the “Substantial Completion Date” shall mean the later to occur of the date that (a) the
Tenant Improvement Work and the Landlord’s Work has been “substantially completed” in the 920 DeGuigne Building and the 950 DeGuigne Building or (b) Tenant is legally permitted to occupy the 920 DeGuigne Building and the 950
DeGuigne Building, or any portion thereof (as evidenced by final inspection and sign-off by the City of Sunnyvale on the job card for the Tenant Improvement Work, or reasonable equivalent). As used herein, the term “substantially
completed” or “substantial completion” with respect to Landlord’s Work or the Tenant Improvements for any Building shall mean that (A) such work has been completed in accordance with the approved plans and
specifications therefor and the terms of this Work Letter, except for (i) finishing details, decorative items, minor omissions, mechanical adjustments, and similar items of the type customarily found on an architectural punch-list, the
correction or completion of which items collectively will not substantially interfere with Tenant’s (or, if applicable, a Transferee’s) occupancy and use of such Buildings (collectively, “Punch List Items”), and
(ii) any trade fixtures, workstations, telecommunications or computer cabling or built-in furniture or equipment to be installed by Tenant (or, if applicable, a Transferee); and (B) Tenant (or, if applicable, a Transferee) is legally
permitted to occupy the Building, or any portion thereof (as evidenced by final inspection and sign-off by the City of Sunnyvale on the job card for the Tenant Improvement Work, or reasonable equivalent). Notwithstanding the foregoing, if Tenant
(or, if applicable, a Transferee) takes possession and commences business operations in any Building prior to the substantial completion of the Tenant Improvement Work or Landlord’s Work, as the case may be, then the Substantial Completion Date
shall be deemed to have occurred on the date Tenant (or, if applicable, a Transferee) commences business operations in such Building. 
 6.5        Excusable Delay.    As used in the Lease, the term “Excusable Delay”, with respect to the Tenant
Improvement Work, shall mean any actual delay in the Substantial Completion Date or the issuance of any government approvals required for occupancy of the Premises for Tenant’s intended use, caused by (a) Landlord’s failure to
complete the Landlord’s Work on or before the applicable Landlord Deadlines specified in Section 4.2 above, as the same may be extended in accordance with the terms of this Work Letter, (b) Landlord’s failure to timely
respond to Tenant’s request for Landlord’s consent, approval, or other action required for the Tenant Improvement Work within the time permitted by or in the manner required by this Tenant Work Letter, (c) wrongful interference with
the Tenant Improvement Work by Landlord or its contractors, subcontractors, suppliers, agents, or representatives which is not corrected within one (1) business day following email notice to Landlord, (d) the presence of Hazardous
Substances (other than Tenant Hazardous Substances) in, on or under the Premises in violation of Environmental Laws prior to the Substantial Completion Date, except to the extent such delay arises from

  
 Exhibit B

 10 

 
any negligence or willful misconduct of any Tenant Party; (e) a Taking; (f) any deficiency in the Required Delivery Condition as of the Premises Delivery Date; and (g) inclement
weather, unforeseeable inability to obtain materials, general strikes and other causes beyond the reasonable control of Tenant (excluding a Casualty, which is governed by Section 5.1 above). If Tenant fails to give notice to Landlord of
any delay in the Substantial Completion Date or the issuance of any government approvals resulting from the events described in clause (f) or (g) above (“Unavoidable Delay”) and the cause or causes thereof, to the extent
known, within five (5) business days after obtaining knowledge of the beginning of the delay, the period of any Unavoidable Delay shall be reduced for the period of time prior to the delivery of such notice. In addition, the period of any such
Unavoidable Delay shall also be reduced by any portion of such delay resulting from the failure of Tenant to act diligently and in good faith to avoid foreseeable delays in performance and to remove the cause of the delay or to develop a reasonable
alternative means of performance within, in either case, two (2) business days following Landlord’s reasonable request to take action that would prevent such delay. 

6.6        Acceptance of
Possession.    Tenant’s acceptance of possession of the Premises and Landlord’s Work shall not waive any obligation of Landlord under this Tenant Work Letter or the Lease, except as expressly provided to the
contrary. 
 6.7        Landlord
Default.    If Landlord does not pay any or all of the Allowance when due pursuant to this Work Letter, then Tenant may provide Landlord and any Security Holder of which Tenant has been given notice for such purpose with
a written notice demanding payment. If Landlord fails to pay such Allowance [*****], Tenant may, at its option, deduct any unpaid portion of the Allowance, [*****], from any payments due to Landlord for Rent under the Lease. [*****] Allowance amount shall be [*****] the payment of such
Allowance amount was due from Landlord hereunder [*****] Tenant deducts such unpaid Allowance amount from Rent under the Lease. Notwithstanding the foregoing, if Landlord notifies Tenant in writing prior to the end of the Allowance Cure Period of
reasonable objections to the request for payment by Tenant, then the parties shall use their diligent efforts to resolve such dispute as soon as possible thereafter, and no amount shall be deducted or offset pursuant to the foregoing provisions, so
long as Landlord is continuing to reasonably dispute such matters in good faith. 
  

 
 [*****]
Certain portions denoted with an asterisk have been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

  
 Exhibit B

 11 

 EXHIBIT B-1 

SUNNYVALE BUSINESS CENTER 
 LANDLORD’S WORK 
 See Attached 

  
 Exhibit B-1

 1 

 Demo at 920 & 930 DeGuigne Buildings 

TeleNav (& LL) approved AAi drawings dated 5/26/11 (included on following pages): 

 
  

  
 Exhibit B-1

 2 

 

 

 

 

 

 

 

 

 Storefront Upgrades 

Items below are from AAi drawings dated 6/3/11: 

KEYED NOTES 
  

			
	1  	  	 REPLACE EXISTING GLASS WITH PPG SOLARGRAY MONOLITHIC GLASS.

	  	 REPLACE EXISTING MULLION CAPS WITH CLEAR ANOD. ALUM. MULLION CAPS.

		  	
	2  	  	 REPLACE EXISTING STOREFRONT ENTRANCE DOORS WITH CLEAR ANOD ALUM

	  	 MEDIUM STILE ENTRANCE DOORS WITH PPG SOLARGRAY MONOLITHIC GLASS &

		  	 ELECTRIFIED PANIC HARDWARE:

		
		  	 VON DUPRIN ELECTRICALLY UNLOCKED PANIC (STOREFRONT)

  

					
	 PAIR OF DOORS: 3547A-NL-EL w/ POWER TRANSFER HINGE & 3547A-EO), PROVIDE

TRANSFORMER AND LINE ELECTRICAL POWER.

			
	 PULLS
	 	 ELMES
	 	 T3268-01-133, S.S. 31” LENGTH

	 CYLINDER GUARD
	 	 ADAMS RITE
	 	 MS 4043

	 CLOSER
	 	 DORMA
	 	 TS 93-1

	 THRESHOLD
	 	 PEMKO
	 	 2727

 

 

 Basketball & Volleyball Court Upgrades 

Basketball Court Upgrades – scope includes: re-striping of court in parking lot (area outlined in site plan below) &
installation of two new basketball hoops. 
 Volleyball Court Upgrades – scope includes: re-sanding of court (area
outlined in site plan below) & installation of new net. 
 

 

 EXHIBIT B-2 

SUNNYVALE BUSINESS CENTER 
 APPROVED SPACE PLAN 
 The following attached floor
plans: 
 1.        920 DeGuigne Drive – Floor Plan – First
Floor, prepared by AAI Architecture and Design, Sheet A-101.1 (Final Space Plan Revision: 06.03.11), approved by Tenant on June 6, 2011 
 2.        920 DeGuigne Drive – Floor Plan – Second Floor, prepared by AAI Architecture and Design, Sheet A-101.2 (Final Space Plan Revision: 06.03.11),
approved by Tenant on June 3, 2011 
 3.        930 DeGuigne Drive
– Floor Plan – First Floor, prepared by AAI Architecture and Design, Sheet A-101.1 (Final Space Plan Revision: 06.03.11), approved by Tenant on June 3, 2011 

4.        930 DeGuigne Drive – Floor Plan – Second Floor, prepared by
AAI Architecture and Design, Sheet A-101.2 (Final Space Plan Revision: 06.03.11), approved by Tenant on June 3, 2011 
 5.        950 DeGuigne Drive – Floor Plan – First Floor, prepared by AAI Architecture and Design, Sheet A-101.1 (Final Space Plan Revision: 06.03.11),
approved by Tenant on June 3, 2011 
 6.        950 DeGuigne Drive
– Floor Plan – Second Floor, prepared by AAI Architecture and Design, Sheet A-101.2 (Final Space Plan Revision: 06.03.11), approved by Tenant on June 3, 2011 

  
 Exhibit B-2

 1 

 

 

 

 

 

 

 

 

 

 

 

 

 EXHIBIT B-3 

SUNNYVALE BUSINESS CENTER 
 LANDLORD’S CONSTRUCTION RULES 
 See Attached 

  
 Exhibit B-3

 1 

 

 
 Building Standards for: Triple Net 

Sunnyvale Business Center - 920, 930 & 950 De Guigne Drive, Sunnyvale, CA 94085 

(EOP No. 11020) 
 May 11, 2011 
 Building Contact Information 

 

					
	Senior Property Manager:	  	Phone:	  	408.487.4107
	Helaine Adams	  	Fax:	  	408.451.4450
		  	E-mail:	  	Helaine  adams@equityoffice.com
			
	Chief Engineer:	  	Phone:	  	408-487-4156
	Anthony Adams	  	Fax:	  	408-451-4450
		  	E-mail:	  	Anthony  adams@equityoffice.com

 Project Data 
  

			
	 •         Occupancy Type:
	    	 Confirm with Equity Office and/or the Building Architect

		
	 •         Fire Protection:
	    	 Confirm with Equity Office and/or the Building Architect

		
	 •         Construction Type:
	    	 Confirm with Equity Office and/or the Building Architect

		
	 •         Number of Stories:
	    	 Confirm with Equity Office and/or the Building Architect

		
	 •         Basic Construction:
	    	 Confirm with Equity Office and/or the Building Architect

 General Structural Information 
  

	 	•	 	 Design Live Load (psf) 

 Architect to confirm all loading and structural requirements with the Building Structural Engineer 
  

	 	•	 	 Special Conditions: Confirm with Equity Office and/or the Building Architect 

 

	 	•	 	 Building Architect: To be confirmed with Equity Office 

 

	 	•	 	 Structural Engineer: To be confirmed with Equity Office 

 Preferred and Mandatory Use Vendors 
  

	 	•	 	 The following preferred and mandatory use vendors/subcontractors shall be contacted in regards to their disciplines for any projects within the
building. 

 NOTE: The Contractor may suggest other sub-contractors than those listed as
“Preferred”. Any proposed substitution must be approved by Building Management PRIOR to bid 

  
 1 

	 	•	 	 EMS: Mandatory use 

 Airco Automation, LLC, (707) 746-5693 
  

	 	•	 	 Fire Alarm Panel / Fire Life Safety: Mandatory use  

Cintas Fire Protection, (800) 710-5710 

 

	 	•	 	 Locks, Keys, Hardware: Mandatory use 

Industrial Lock Services, 2255 Middlefield Way, Mountain View, CA 94043 (650) 961-5544 

 

	 	•	 	 Roofing: Mandatory use 

 Environmental Roofing, 15015 Los Gatos Blvd., Los Gatos, CA 95032 (408) 358-5360 
  

	 	•	 	 Security Access (Base Building): Mandatory use 

Prior to occupancy please contact Property Management 

 

	 	•	 	 HVAC: Mandatory use* 

 Western Allied Mechanical, 1180 O’Brien Drive Menlo Park, CA 94025 (650) 326-0750 
 *For 1 year after occupancy 
  

	 	•	 	 Electrical: 

  

	 	•	 	 LL to approve Tenant Vendor 

  

	 	•	 	 Plumbing: 

 LL to approve Tenant Vendor 
  

	 	•	 	 Fire Sprinkler: Mandatory use 

 Cintas Fire Protection, (800) 710-5710 
 Elevator:
Mandatory use  
 Schindler-1(.800)225.3123 

Landscaper: Mandatory use 

ValleyCrest Landscape Service- Contact Property management with issues 

Fountain: Mandatory use 

Contact property Management with issues 

Pest Control: Mandatory use 

Exterior only – contact Property Management with issues 

  
 2 

 Equity Office 
 Building Standards for 
 Sunnyvale Business Center - 920, 930 & 950 De
Guigne Drive, Sunnyvale, CA 94085 
 TENANT/CONTRACTOR ACKNOWLEDGMENT 

ON BEHALF OF THE TENANT AND CONTRACTOR NAMED BELOW AND AS THEIR RESPECTIVE AUTHORIZED REPRESENTATIVES, HE UNDERSIGNED HEREBY ACKNOWLEDGE RECEIPT OF THE
ATTACHED BUILDING STANDARDS AND AGREE TO COMPLY THEREWITH. TENANT AGREES THAT IT IS TENANT’S RESPONSIBILITY TO DISTRIBUTE COPIES OF THESE BUILDING STANDARDS TO THE ALL CONTRACTORS AND ALL SUBCONTRACTORS BEFORE ANY WORK COMMENCES AT THE PROJECT.
IT IS UNDERSTOOD THAT TENANT AND THE UNDERSIGNED CONTRACTOR WILL BE HELD JOINTLY AND SEVERALLY RESPONSIBLE FOR THE COST OF ANY CLEAN UP, CHANGES, OR OTHER LOSS, DAMAGES OR EXPENSES THAT RESULT FROM THE FAILURE OF CONTRACTOR AND/OR AND/OR
SUBCONTRACTORS, TO COMPLY WITH THESE RULES. 
  

	
	  

	 CONTRACTOR

	
	  

	 BY

	
	  

	 DATE

	
	  

	 TENANT REPRESENTATIVE

	
	  

	 BY

	
	  

	 DATE

	

  
 3 

 Construction Specification Institute Index 
 Division 1 — General Requirements 
 Division 2 — Site Construction

 Division 3 — Concrete 

Division 4 — Masonry 
 Division 5
— Metals 
 Division 6 — Wood and Plastics 
 Division 7 — Thermal and Moisture Protection 
 Division 8 — Doors and Windows

 Division 9 — Finishes 

Division 10 — Specialties 

Division 11 — Equipment 
 Division
12 — Furnishing 
 Division 13 — Special Construction 
 Division 14 — Conveying Systems 
 Division 15 — Mechanical 

Division 16 — Electrical 

Division 1 — General Requirements 
 01100 Summary 
  

	 	•	 	 In the event that Drawings and Specifications are provided along with these Building Standards for project bidding, in the event of conflict between
the Drawings and Specification and the Building Standard, the Drawings and Specification will take precedent over the Building Standards 

  

	 	•	 	 Relative to the use of these Building Standards and existing conditions encountered in any space, when improvement Plans and Specifications are not
provided and Building Standards indicate finishes and material specifications (for example doors/frames/ hardware, lighting fixtures etc) that do not match existing conditions within the space to be improved, the Contractors are required to list the
differences and request direction from Equity Office prior to proceeding. 

  

	 	•	 	 When the Contractor provides pricing for the work, the Building Standards shall apply for all new work unless otherwise directed by Equity Office.

  

	 	•	 	 When the Architect provides Plans and Specifications, the Building Standards shall apply for all new work unless otherwise directed by Equity Office.

  

	 	•	 	 For Mechanical, Electrical, Plumbing, Fire Alarm and Fire Protection improvements, these Building Standards will apply unless directed otherwise by
Equity Office 

  

	 	•	 	 It is the responsibility of the general contractor and the appropriate subcontractors to familiarize themselves with existing conditions, and to
ascertain the complete scope of the mechanical, electrical, fire life safety, structural and plumbing work - including specific requirements, capacities and specifications required to execute this project in accordance with design intent.

  

	 	•	 	 Certificate of Insurance: Any company or person who may be furnishing labor or services for the Project shall have a certificate of insurance on file
with the Equity Office building office, evidencing insurance coverage’s required by the Lease or otherwise satisfactory to the Landlord, and naming the landlord, Equity Office Management, L.L.C. and any other parties required by the landlord as
additional insured before work starts. 

  

	 	•	 	 Contractors to field verify all dimensions and requirements. Report all discrepancies or omissions to Equity Office. 

  
 4 

	 	•	 	 Structural design and calculations shall be provided for all hanging equipment exceeding 200 pounds showing attachments to the building structure and
bracing requirements. Provide stamped and wet signed structural design and calculations for all elements as required by Code. 

  

	 	•	 	 Copies of permits must be submitted to Equity Office prior to starting any job. 

 

	 	•	 	 Hot work Permit: 

  

	 	•	 	 The use of Hot Work Permits will be enforced on all projects. All Hot Work will require a permit administered by the Chief Engineer of the building.
Contractor is to review all requirements with Building Management prior to the start of work 

  

	 	•	 	 Hot work includes any Welding, Brazing or Soldering. 

  

	 	•	 	 No Hot Work can take place in any area of a building that the fire sprinkler system has been impaired. 

 

	 	•	 	 As required by code, for all elevated work Contractor shall comply to the Construction Safety orders in Article 24 of the California Code of
Regulations Title 8. 

  

	 	•	 	 Contractor must provide and shall have onsite the MSDS sheets for the materials they use on the project and provide copies of these in the close-out
package. 

  

	 	•	 	 Stamped structural calculations confirming ability of floor to carry significant loads such as high-density storage, large file banks, batteries, etc
shall be submitted for review and approval for all projects. 

  

	 	•	 	 Asbestos Containing Material (ACM) shall NOT be used or installed in any form. NO EXCEPTIONS 

 

	 	•	 	 Contractor is to coordinate with Equity Office on obtaining PG&E and other potential rebates incentive (if applicable), prior to demolition.
Contractor shall be responsible to contact Equity Office and review possible rebates 

  

	 	•	 	 Contractor is requested to include in their bids any alternates which will save energy or useful life of equipment for consideration by Equity Office.

  

	 	•	 	 Low VOC Emitting Materials 

  

	 	•	 	 All adhesives and sealants must meet or exceed Bay Area Air Quality Management District’s requirements for VOC emissions. Phenol or melamine
formaldehyde adhesive shall not be used 

  

	 	•	 	 Paints and coatings must meet or exceed VOC & chemical component limits of Green Seal requirements 

 

	 	•	 	 Carpet systems must meet or exceed Green Label indoor Air Quality recommendations 

 

	 	•	 	 Composite wood and resin fiber products must contain NO added urea-formaldehyde. Phenol or melamine formaldehyde adhesive shall not be used

 01300 Administrative Requirements 

 

	 	•	 	 Modifications to building shell and exterior: Changes to the building shell and any exterior tenant improvements (including the building and all
lease areas) are subject to Landlord’s express written approval. Tenants are responsible for obtaining all required public works, building and planning approvals for such changes, copies of which shall be provided to Equity Office

  

	 	•	 	 Contractors are strictly advised that no attachment of any building materials directly to the exterior curtain wall will be allowed. Should the
contractor discover any such details in the architectural drawings, whether explicit or implied, they are to be immediately brought to the attention of Landlord and appropriate modifications to such drawings will be required

  
 5 

	 	•	 	 Any Building Standard features modified as a result of landlord approved tenant improvements are to be restored to building standard by tenant upon
vacating the premises at the direction of Landlord. 

  

	 	•	 	 Review and Approval: Drawing shall be reviewed by Equity Office at the end of TI Schematic Design and also when Final TI Construction Documents
are completed. Tenant shall provide such drawings to Equity Office sufficiently in advance to permit Landlord to provide written at each stage. Equity Office’ comments shall be incorporated into the TI designs prior to the commencement of TI
construction and revised copies of the design documents shall be provided to Equity Office for further review and/or approval. A set of TI Construction Documents as finally approved by Landlord will be provided to Equity Office.

  

	 	•	 	 Private offices and conference rooms built-out on the perimeter glass line shall be on mullion and column module. Landlord shall have approval rights
on all proposed layouts 

  

	 	•	 	 Where “Design-Build” specifications are used, Equity Office will review, comment on and approve all design build plans and specifications
provided by the design-build contractor prior to construction and appropriate modifications to plans and specifications shall be made. 

  

	 	•	 	 The Property Manager, Regional Engineering Director and the Chief Engineer will be included in the approval process regarding Hardware, Structural,
Electrical, Mechanical, Plumbing, Fire Life Safety. 

  

	 	•	 	 Any costs associated with “Above Standard” items are the tenant’s responsibility. 

 

	 	•	 	 Landlord may substitute other materials, at Landlord’s sole discretion, for specified materials depending on the availability of materials at the
time of construction. 

  

	 	•	 	 Tenant shall provide improvements to the common corridors and the elevator lobby (corridor and elevator lobby on which Tenant’s Premises is
located) if necessitated by the work. 

 Inspection and Acceptance: Tenant Initiated Projects, and as applicable for Equity
Office contracted projects 
  

	 	•	 	 TI specifications shall include a requirement that the Tenant and TI Contractor cooperate with Equity Office in the review and acceptance of the TI
during the completion of construction as follows: 

  

	 	•	 	 TI construction may be reviewed by an Equity Office representative at intervals appropriated to the course of the work and the size of the TI project.
The TI designer shall normally be present at such reviews. 

  

	 	•	 	 When TI work is substantially complete a Equity Office representative will accompany the TI designer on a walk-through of the work to ensure the
completion of the TI work in accordance with the approved design 

  

	 	•	 	 Equity Office must be furnished with a Certificate of Substantial Completion provided by the TI designer with correction list items noted.

  

	 	•	 	 The Tenant will cooperate with Equity Office and it representatives in any required follow up to confirm the completion of correction list items.

  

	 	•	 	 Mechanical, Electrical and Structural Plans must to be signed by P.E. (or engineering discipline as required by the City) before submission for
Landlord approval 

 Project Record Drawings, warranties and instructions 

 

	 	•	 	 Contractor to provide closeout As-builts, O&M Manuals and close out documents in a labeled binder in accordance with the check list provided at the
end of these specifications 

  

	 	•	 	 AutoCAD” files requirements: 

  
 6 

	 	•	 	 Provide files in both (1) the latest addition of Autodesk version of AutoCAD in which the engineers and the designer and/or Architects are
currently using plus (2) saved in the release of Autodesk version of AutoCAD which is currently being used by Equity Office. 

  

	 	•	 	 The Contractor is responsible to confirm which version of the AutoCAD is being used by Equity Office prior to submitting the AutoCAD files

  

	 	•	 	 Files must be unlocked and fully accessible. No “cad-lock” read-only, password protected or “signature” files.

  

	 	•	 	 Files must be in “.dwg” format. 

  

	 	•	 	 If the data was electronically in a non-Autodesk product, then files must be converted into “’dwg” files when given to Equity Office.

  

	 	•	 	 Contractor shall maintain a set of record drawings showing all changes made to the design during the course of construction which shall be delivered to
Equity Office upon final completion of the TI. 

  

	 	•	 	 The contractor shall provide (1) one hard copy and (2) Electronic Copy on a CD of the following close out documentation.

  

	 	•	 	 Record As-builts drawings for all disciplines, reproducible AND in AutoCAD version noted above 

 

	 	•	 	 Original Permit Card(s) with final sign-offs by all applicable inspectors (Building, Fire etc) 

 

	 	•	 	 Warranties and Guarantees 

  

	 	•	 	 One complete set of detailed operating and maintenance instructions and spare parts lists. 

 

	 	•	 	 Provide air balance and final air balance report for entire suite. 

 

	 	•	 	 Electronic version of MEP trade as-built drawings 

  

	 	•	 	 A copy of the permit with final sign-off from the each trade inspector including Building Final must be submitted prior to final payment.

 Training 
  

	 	•	 	 Contractor shall provide training for Equity Office engineering personnel or tenant on all installed systems. Training shall be provided by the
Sub-contractor and equipment Manufacture Representative on major equipment. Training shall be scheduled to occur promptly after but in no event before, the submittal of all close out documentation.  

01400 Quality Requirements 

Code Compliance 
  

	 	•	 	 Construction must comply with all codes, ordinances and regulations applicable to the TI design and construction. The Tenant or Contractor must provide
Equity Office with a copy of the Certificate of Occupancy and/or inspection sign-off prior to occupying the TI’s. 

Codes and Regulations 
  

	 	•	 	 All work shall comply with the latest edition of all applicable codes and regulations. In the event of any conflict between two or more applicable
codes, the code requiring the higher-quality or more complete installation shall govern 

  

	 	•	 	 Contractor shall be responsible to comply to all regulations of OSHA and CAL-OSHA 

01500 Temporary Facilities and Controls 

General clean-up 
  

	 	•	 	 Contractor shall coordinate with Building Management for the placement of dumpsters. Dumpsters shall not be allowed to overflow. The area around the
dumpster will be swept clean at all times. 

  

	 	•	 	 All areas outside the area under construction will be kept clean and clear of all debris, building materials, and equipment at all times.

  

	 	•	 	 Contractor will keep the interior construction area clean, organized and safe at all times. 

 

	 	•	 	 Contractor is responsible for keeping lobby and corridor carpeting protected from tracking dry wall dust, etc. If self stick visqueen carpet protection
is utilized, protected carpets must be cleaned at the completion of the project 

  

	 	•	 	 If cleanup is inadequate at any time, Landlord may accomplish cleanup and deduct or charge cost thereof from amount of contracts.

  

	 	•	 	 Upon completion of work, immediately remove from the premises all surplus materials, tools, equipment, rubbish and debris resulting from the work

  
 7 

 Asbestos Containing Material (ACM) Testing 

 

	 	•	 	 Demolition/new construction will be subject to Asbestos Containing Material (ACM) testing for all materials which are to be demolished in accordance to
State and Federal requirements. Consultant specified by the Landlord shall be used for testing. 

 Indoor Air Quality

  

	 	•	 	 Meet the minimum requirements in ASHRAE 62 

  

	 	•	 	 Cover all intakes and/or return air for building mains with Merv 8 or 30% ASHRAE filters 

 

	 	•	 	 Shut off and secure all HVAC equipment that supplies the area of construction. Close off all open medium pressure ducting.

 Noise control 
  

	 	•	 	 Unless approved in writing by the Landlord, Contractor will not perform construction involving loud noises during normal building hours of operations.
Building Management will provide a complete list of Building Rules and Regulations to Contractor prior to start of construction, and Contractor shall comply at all times with such Building Rules and Regulations 

 

	 	•	 	 Unless approved in writing by Landlord, all demolition, stocking, off haul, core drilling, rotor hammering, powder actuated fastening, and tack strip
installation for construction purposes to be performed after hours. All other noise levels to be kept at a minimum during the business day. Refer to the Rules and Regulations for further requirements 

 

	 	•	 	 Contractor shall not play radios at any time 

 Cutting and Patching 
  

	 	•	 	 Do not cut-and -patch structural work in a manner resulting in reduction of load carrying capacity or load / deflection ratio; submit proposed cutting
and patching to Equity Office for structural approval before proceeding. 

  

	 	•	 	 Do not cut-and-patch operational elements and safety-related components in a manner resulting in reduction of capacities to perform in manner intended
or resulting in decreased operational life, increased maintenance, or decreased safety. 

  

	 	•	 	 Do not cut-and-patch work which is exposed on exterior or exposed in occupied space of building, in a manner resulting in reduction of visual qualities
or resulting in substantial evidence of cut-and-patch work, as judged solely by Equity Office. 

  

	 	•	 	 Remove and replace work judged by Equity Office to be cut-and-patched in a visually unsatisfactory or otherwise objectionable manner. Provide materials
for cut-and-patching which will result in equal-or-better work than work being cut-and-patched; in terms of performance characteristics and including visual effect where applicable. 

 

	 	•	 	 Use materials identical with original materials where feasible and where recognized that satisfactory results can be produced thereby.

 Demolition: 
  

	 	•	 	 Contractor is to target recycle or salvage at least 50% (by weight) or construction, demolition and land clearing waste, or as required by local
jurisdiction, whichever is greater 

  

	 	•	 	 Contractor is to coordinate with Building Management on the building requirements for demolition procedures, access, trash removal and placement of
containers etc. 

  

	 	•	 	 In the area where construction is being done, protection will be put down on all carpeted or finished floors and walls in corridors, lobbies, and areas
leading to exits if required. All passenger elevators serving area for demolition and construction are to be properly sealed against dust, debris and damage with pads, visqueen and masonite, plywood or plastic panels, including car and floor
doorframe. Contractor to review protection plan with Building Management prior to start of work 

  

	 	•	 	 Contractor shall be responsible for damage caused by failure to put down appropriate protective surfaces 

 

	 	•	 	 If work is required on the roof, protection of all roof surfaces is to be done as needed to protect the roof membrane. Contractor will be responsible
for restoration of any damage to the roof 

  

	 	•	 	 Contractors shall supply fire extinguishers on job site while construction is in progress. 

  
 8 

	 	•	 	 Contractor shall install and maintain frame and filters over return air duct (as pre-filter) in space served by air conditioning unit. Smoke detectors
also must be disabled while demolition is in progress and covered, and returned to service prior to the contractor leaving the job site at the end of each day. After completion of TI work a sensitivity test will be performed on life safety system
and cleaned as needed at tenant or Contractors sole expense. 

  

	 	•	 	 All unused telephone & communication cable to be removed from ceiling. Care shall be taken to identify and protect any cabling which is
currently active and is to remain. 

  

	 	•	 	 Contractor must take caution and use all appropriate protective measures not to demo or otherwise adversely affect the operation of the existing
Fire/Life/Safety system or Energy Management system devises or their conduits 

  

	 	•	 	 Equity Office reserves the right, but shall not be required to keep any demolished material, such as, but not limited to doors, hardware, glazing,
electrical fixtures, etc. Contractor shall clarify with Equity Office prior to bid on what material is to be salvaged 

Core Drilling and Saw Cutting: 
  

	 	•	 	 Core drilling and trenching of the floor slabs are subject to the approval of Building Management. 

 

	 	•	 	 All slab on grade, structural slabs, and post tension slabs shall be scanned or x-rayed prior to any core drilling or trenching activity

  

	 	•	 	 When saw cutting the floor slab, or multiple cores are necessary Contractor is to obtain a detail for repair from the Structural Engineer. Plastic
vapor barrier is to be placed in the trench and sealed to the sides before re-pouring. 

  

	 	•	 	 This work to be done after building hours and only with permission of Building Management. 

 

	 	•	 	 All cores that penetrate demising walls and floors must be fire caulked or sealed 

Move in Requirements: 

The following are move in requirements to follow when moving into an Equity Office building. Prior to move in, the Tenant’s move in
supervisor is required to meet with the Building Management to review scope of job. 
  

	•	 	 All floors must have protection from damage due to carts or hand trucks (example: masonite, plywood, etc). Material shall be in good condition, not
broken or split so that wood chips and debris are not left on the floor. 

  

	•	 	 All walls and corners to delivery location must be protected with cardboard or equal material. 

 

	•	 	 Mover must use the building entrance which has been identified by the Building Management 

 

	•	 	 All movers/furniture installers must use elevator that has been designated for move (elevator with moving pads). Key provided for independent use only,
doors should not be held open manually. 

  

	•	 	 All doors in mover’s/furniture installer’s path must be propped open only with rubber doorstops. (No cardboard, metal, rock, etc)

  

	•	 	 After hours access card and elevator key shall be picked up in advance, especially in the case of early morning or weekend moves. Card and key shall be
returned to Equity Office promptly upon completion of move in. 

  

	•	 	 Day before move walk through shall be performed to note any prior for which Tenant will not be held liable. 

 

	•	 	 Please report promptly any damage done by mover’s/furniture installer’s to Building Management staff. 

 

	•	 	 Clean up of all debris and vacuum of carpets if needed, promptly when move is completed. 

 

	•	 	 Morning move in must be complete by 8:00 am or start after 5:30 pm. 

 

	•	 	 Any schedule change must be approved 24hrs in advance by Building Management staff. 

Division 2 — Site Construction 
 Division 3 — Concrete 
 Division 4 — Masonry 

Division 5 — Metals 

Division 6 — Wood and Plastics 

  
 9 

 06400 Architectural Woodwork 
 Millwork 
  

	 	•	 	 Millwork shall have FSC substrates that are formaldehyde free and use low-VOC adhesives 

 

	 	•	 	 All millwork to conform with Woodwork Institute standards as follows: 

 

	 	•	 	 Cabinets: Custom Grade Construction. 

  

	 	•	 	 Counters & splash: Premium grade 

  

	 	•	 	 No certificates are required. 

  

	 	•	 	 All cabinets and counters to be anchored and scribed to adjacent surfaces 

 

	 	•	 	 All counter core material to be 3/4” particle board or hardwood plywood. 

 

	 	•	 	 Provide Flush Overlay plastic laminate cabinets. All exposed surfaces and inside face of door shall be covered in plastic laminate (Standard Nevamar,
Wilsonart or approved equal). Interiors are to be light gauge laminate, melamine or equal, edge banded, color: white 

  

	 	•	 	 Provide shop drawings for review by Landlord and/or architect for all millwork 

 

	 	•	 	 NOTE: Counters, cabinets to meet all accessibility requirements of The American’s with Disabilities Act and the California Building code, current
editions. Architects/Contractors shall take care that heights/reach ranges related to cabinetry and to the electrical above counters/splashes are strictly adhered to per codes and regulations. 

Counters at +34” above finished floor and with a depth of 24” from front edge to face of wall typically meet all
reach range requirements to electrical placed at +42” or +44” above finished floors. 
 This building
typically provides under sink access and doors with an attached toe kick. Doors in the open position, including attached toe kicks shall provide a minimum 30” wide clear area below sinks with doors open 90 degrees 

Hardware: 
  

	 	•	 	 3/4 extension drawer glides. 

  

	 	•	 	 Fully concealed hinges. 

  

	 	•	 	 Fully recessed standards for all adjustable shelves. 

  

	 	•	 	 Pulls: Drawers/pulls: Manufactured by Forms and Surfaces; 3” wire pulls or Stanley: Wire pulls - #348235 3-1/2 Satin Chrome

  

	 	•	 	 Hinges: 120 degree Blum 73T5580 or equal 

  

	 	•	 	 Glide, standard: Accuride C3800, 75 lbs, 3/4 extension or equal 

 

	 	•	 	 Glide, file: Accuride C4005, 1-1/2” overtravel, 100lbs or equal 

 

	 	•	 	 Grommets: Doug Mockett & Co.: SG series, black or equal 

 

	 	•	 	 Adj. Shelf Hdwr.: KV 331/332 shelf supports or equal 

  

	 	•	 	 Typ. Finish: Satin Chrome or existing Building Standard 

 Wall Hung Shelves: 
  

	 	•	 	 Shelf: white melamine, edge banded shelf on Knape & Vogt #85 ANO Double Slotted Standards with # 185 ANO Double Brackets, color: nickel.
Provide backing for or coordinate 20 gauge sheet metal studs with vertical standards locations. 

 Closet Pole &
Shelf: 
  

	 	•	 	 White melamine, edge banded shelf on Knape & Vogt #1195 shelf and rod supports with chrome heavy duty closet rod, #770-5.

 Division 7 — Thermal and Moisture Protection 
 07500 Membrane Roofing 
 General: 

  
 10 

	 	•	 	 All modifications to building roofing, flashing, waterproofing system assemblies are to be completed by sub-contractors specified by Equity Office.
Contractor shall obtain name and contact information and solicit a proposal from the approved Roofing sub-contractor prior to submitting any pricing for the project 

 

	 	•	 	 All sheet metal roof flashing shall confirm to SMACNA standards 

 Division 8 — Doors and Windows 
 08050 Basic Door and Window Materials and
Methods 
 General 
  

	 	•	 	 The existing building may have in place a number of different doors (wood species, cut and finish), door frames and hardware. Re-use of non-building
std. doors, frames and hardware will be considered on a case by case basis by the landlord. New & remodel construction should comply with below listed standards unless otherwise permitted by landlord 

 

	 	•	 	 Contractor shall repair/re-finish existing doors where occurs. Touch-up existing frames as required. 

 

	 	•	 	 All re-keying of locks must be coordinated with Building Management, or a locksmith designated by Building Management. Contractor shall ensure that all
new locksets include the correct, building standard key way 

  

	 	•	 	 Interior tenant doors are to be equipped with hinges, latch set and floor stop. 

 

	 	•	 	 Doors, frames, glazing being demolished shall be stored or disposed of at the direction of Building Management. 

 

	 	•	 	 Doors shall meet all requirements for accessibility including hardware and required door clearances. 

 

	 	•	 	 Should panic bar exit devices be required for a tenant’s specific occupancy type, then that tenant shall be responsible for costs associated with
upgrading other doors in the building along the required exit paths. 

  

	 	•	 	 Use fire rated doors in locations as required by Code. Doors shall have the testing laboratory label with the appropriate rating indicated. (U.L.Rated)

  

	 	•	 	 Tenant to provide all required keys and cardkeys for building for installation into the knox box. 

08100 Doors and Frames 
 Tenant
Entry Door 
  

	 	1.	Single Rated Entry Door: 

  

	 	•	 	 All corridor doors single 3’-0” x full height (ceiling height unless otherwise specified) to be building standard finish with building
standard lever hardware. Provide submittals for approval. 

  

	 	2.	Double Entry Doors 

  

	 	•	 	 Same as Single Entry Door above, except pair 3’-0” x full height (ceiling height unless otherwise specified) x 1-3/4” doors.

  

	 	•	 	 Frame: 

  

	 	A.	20-min. fire rated clear anodized aluminum, flush frame to match building standard. 

 

	 	B.	Use fire rated frames in locations as required by Code. Frames shall have the testing laboratory label with the appropriate rating indicated 

Interior Doors: 

  
 11 

	 	•	 	 Standard full height doors and frames 3’-0” wide, door manufacture, All Wood or equal. White maple solid core doors, oil stain w/clear coat
sealer, polyurethane sheen to match control sample 

 Frame: 

 

	 	•	 	 Clear anodized aluminum, flush frame (Venus style) to match building standard (rated where required), or match existing as required

 Elevator Lobby Doors and Frame: 
  

	 	•	 	 Elevator doors are to be sprayed finished. NO ROLLER APPLICATION. For paint grade doors only, NOT applicable for metal finish elevator doors

 08500 Windows 
 Glass Sidelights 
  

	 	•	 	 Where designated, glass sidelights to be 18” wide,
 1/4” minimum tempered glass and match height
and frames of building standard interior doors or match existing as required 

 Window Coverings: 

 

			
	   1.    Blinds -
	  	 Horizontal Mini-Blinds: Levolor Rivera Blinds or match existing color to be confirmed

	   2.    Existing Blinds:
	  	 Repair/replace damaged/malfunctioning blinds as required.

 08700 Hardware 
 General: 
  

	 	•	 	 All hardware must meet ADA guidelines and State Fire Marshall guidelines 

 

	 	•	 	 The Architect is responsible for selecting the lever design and finish, per the EOP recommendation that there will be uniformity in design and
finish on any given floor when there is existing door hardware (that will remain) on that floor. EOP to provide final approval of lever design and finish and hardware type. 

Hardware specification: 

Lock Sets; SCHLAGE 
  

	 	•	 	 MODEL L-Series, Mortise Lock, L9050 (Entrance and Suite Entrance Lock) 

 

	 	•	 	 DESCRIPTION: Schlage Heavy Duty Lever Lock with full size inter-changeable core, thumbturn locking. Finish and lever design per notes above.

  

	 	•	 	 MODEL D-Series, Cylindrical Lock, ND50PD (Office and Inner Entry Lock) 

 

	 	•	 	 DESCRIPTION: Schlage Heavy Duty Lever Lock with full size inter-changeable core, push button locking. Keyed outside, outside lever unlocked by key or
by turning inside lever. Finish and lever design per notes above. 

  

	 	•	 	 MODEL D-Series, Cylindrical Lock, ND80PD (Storeroom Lock) 

 

	 	•	 	 DESCRIPTION: Schlage Heavy Duty Lever Lock with full size inter-changeable core, entrance by key only always locked, inside lever always unlocked.
Finish and lever design per notes above. 

  

	 	•	 	 MODEL D-Series, Cylindrical Lock, ND70PD (Classroom Lock) 

 

	 	•	 	 DESCRIPTION: Schlage Heavy Duty Lever Lock with full size inter-changeable core, entrance by key to lock or unlock. Finish and lever design per notes
above. 

  

	 	•	 	 MODEL D-Series, Cylindrical Lock, ND80PDEU (Electrically Unlocked, Fail Secure) 

 

	 	•	 	 DESCRIPTION: Schlage Electric Lock Set Fail Secure with full size interchangeable core continuously locked until unlocked by key or electric current.
Inside lever always free for immediate exit DC 24 volts, 0.35 amps. Finish and lever design per notes above. 

  
 12 

	 	•	 	 Cylinder/Key Way- Schlage E 6 pin 

 Passage Set 
  

	 	•	 	 MODEL D-Series, ND10S (Passage Set) 

  

	 	•	 	 DESCRIPTION: Schlage Heavy Duty Lever Handle. Both levers always unlocked. Finish and lever design per notes above. 

Other 
  

	 	•	 	 Door hold opens 

  

	 	•	 	 Electric door holders Edwards Cat # 1504-N5 

  

	 	•	 	 Door closures 

  

	 	•	 	 LCN 4041 - Super Smoothee or Norton 149A finish 26 

  

	 	•	 	 Floor mount door stops 

  

	 	•	 	 To match existing. 

  

	 	•	 	 Coat Hooks 

  

	 	•	 	 Confirm with Building Management 

 Execution 
  

	 	•	 	 Locksmith vendor will be specified by Equity Office for all cylinder installation and keying. Keying of all interior and exterior doors shall be
compatible with building master 

  

	 	•	 	 Construction: Provide construction keyway during construction. 

 Division 9 — Finishes 
 General Notes 

 

	 	•	 	 Only water based, low-VOC, adhesive materials may be applied in the building. No out-gassing type of water proofing or adhesive shall be used without
Building management’s prior approval and work shall occur after hours only. 

  

	 	•	 	 Contractor to perform moisture testing as required ensuring proper substrate/installation/performance. 

 

	 	•	 	 Prior to installation of flooring, installer shall inspect the surfaces to which flooring products will be applied. All cracks, depressions and minor
bumps must be filled. All voids in the substrate shall be filled with commercially manufactured filler material. 

09500 Ceilings 
 Suspended
Ceiling System 
 General 
  

	 	•	 	 Unless otherwise noted in specific project instructions, where cross members are damaged, bent or have screw holes, they shall be replaced. Where mains
are damaged, bent or have more than 3 screw holes, they shall be replaced. In mains with (3) screw holes or less, holes shall be caulked and smoothed flush with grid surfaces. 

 

	 	•	 	 Not all ceilings are properly braced with compression struts, proper wall angle and seismic control joints. After inspection of premises ceiling shall
be modified as required to meet current codes. 

  

	 	•	 	 Contractor to replace damaged tile where occurs. Provide new tile as required to complete the ceiling; do not mix existing and new tile in the same
room (relocate existing tiles where required). Contractors shall provide exact quantity of tile to be replaced in bids. It is assumed that only significantly damaged tile will be replaced and that existing tiles with minor imperfections will remain
unless otherwise noted. 

  
 13 

	 	•	 	 Unless otherwise noted in specific project instructions level existing within 1/8” in 10’. New grids to be level within 1/8” in 10’
or as required by Code 

  

	 	•	 	 Compression struts and ceiling wires are to be installed as to not touch, rub, and lean against any other supports or equipment. This will stop any
vibrations from traveling to the ceiling grid, thus causing tenant complaints 

  

	 	•	 	 Do no paint Acoustical Ceiling Tiles 

 Grid: 
  

	 	•	 	 2 X 4 15/16” T-bar Grid: install to match existing ceiling & height. 

 

	 	•	 	 Finish: Flat white #001 and #004. 

  

	 	•	 	 Brace Suspended Ceiling system as required by Code. Independent of Suspended Ceiling wires, provide minimum four hanger wires at light fixtures or
other extra loads weighing over 50lbs 

  

	 	•	 	 Always align new grid/mains with existing. 

  

	 	•	 	 Grid shall be continuous throughout floor. Grid shall not be cut to center with a room, unless restored by Tenant upon termination of lease

 Acoustical Tiles 
  

	 	•	 	 Contractor to verify actual tile in field to confirm specification match 

U.S.G. P/N 2742 class A 2’x4’x3/4” Radar Illusion Two/24 Panels with regular edges 

Armstrong P/N 704A 24”x24”x5/8” Cortega with angled regular edges 

Armstrong P/N 769A 24”x48”x5/8” Cortega with square lay-in edges. 

Armstrong P/N 2767A, 24”x48”x3/4” Cortega Second Look II with angled regular edges. (At selected area)

  

	 	•	 	 Acoustic ceiling panels are to be shoulder cut at the perimeter of all rooms. This includes rooms where walls stop at the bottom of the ceiling grid

  

	 	•	 	 ALTERNATE SPECIFICATION 

 Ceiling shall be 2’-0” x 2’ x 0” suspension system by Armstrong with 24” x 24” x 5/8” “Cortega” square lay-in edge ceiling panels, or equal or better.
Monolithic ceiling grids in all office and lab areas are required 
 Ceiling Height 

 

	 	•	 	 Contractor to verify in field prior to ceiling install and match existing 

 Open ceiling 
  

	 	•	 	 Where ceilings in offices are left open to structure for design reasons, entire underside of structure shall be cleaned and painted with 2 coats of
flat latex over one coat of primer. Minimum requirement. 

 MISCELLANEOUS 

 

	 	•	 	 Center all items in the middle of ceiling tile: smoke detectors, strobes, sprinkler heads, speakers, lighting, etc. unless otherwise noted.
Downlights and wallwashers shall be located as required by Tenant’s Architect. Note that in some areas, specifically below main pressure ducts, ceiling to grid clearance is limited and building standard 2x4 fixtures may not fit. If available,
HVAC duct layout drawings can be used to avoid potential conflicts. 

 09600 Flooring 

 

	 	•	 	 Flooring shall be As selected by Architect, and approved by Equity Office 

 

	 	•	 	 Confirm flooring standard and requirements with Equity Office 

 Carpet 
 Building Common Corridor As selected by Architect, and
approved by Equity Office 
 Elevator Lobby As selected by Architect, and approved by Equity Office 

Accent As selected by Architect, and approved by Equity Office 

Tenant Space: As selected by Architect, and approved by Equity Office 

  
 14 

 Contractor to perform moisture testing as required ensuring a proper
substrate/installation/performance. Installation: Glue-down per manufacturer’s recommendations 
 Base As selected by Architect, and
approved by Equity Office 
  

	 	•	 	 Elevator Lobby @ border carpet: 

  

	 	•	 	 Common Corridor: 

  

	 	•	 	 Elevator Lobby: 

Tenant Space: 
 Vinyl Composite Tile

  

	 	•	 	 For use in Break Rooms, Work Rooms, Storage Rooms and Tele/data/Server Rooms. 

 

	 	•	 	 Manufactured by Two (2) colors in pattern for kitchen/break room. One (1) color for other application. As selected by Architect, approved by
Equity Office 

  

	 	•	 	 Installation: Quarter turned and installed per manufacturer’s recommendations. Provide Reducer strip at floor transitions Provide two coats of
floor polishing material recommended by the manufacturer, machine polishing the second coat. 

 Other flooring finishes

  

	 	•	 	 Elevator Lobby Stone tile: Confirm flooring standard and requirements with Equity Office 

 

	 	•	 	 Restroom tile: To Match Existing 

  

	 	•	 	 Installation: Thinset per Tile Council of America Guidelines. Use 1/8” grout joints max.  

09700 Wall Finishes 

DRYWALL PARTITIONS: 
 General notes: 
  

	 	•	 	 All partitions to be constructed to meet all code requirements including 5 lbs/sq.ft. lateral loading per applicable codes and ordinances. Stud
tracks, studs, deflection track assemblies, gypsum board installations and fasteners shall be detailed/ specified accordingly. Adjust stud gauge, spacing, size for longer spans (1st floor spaces & Floor to structure walls) or walls with additional loads (Cabinetry, equipment, etc.).

  

	 	•	 	 Where plumbing walls occur, specify larger stud sizes to accommodate pipe diameters, etc. 

 

	 	•	 	 All gypsum board shall be type “x” regardless if walls are rated or not. 

 

	 	•	 	 Insulation where occurs shall be fully contained within partitions. No loose insulation/batts are allowed in the return air plenum.

  

	 	•	 	 All walls to be finished smooth with Level IV finish (ASTM C 840). See partition preparation for standard walls vs. walls with side lighting,

  

	 	•	 	 In existing suites, existing walls shall be patched, repaired to provide like new appearance unless otherwise noted. 

 

	 	•	 	 Existing wall covering shall be removed and walls shall be prepared for new paint unless otherwise noted. 

One hour 
  

	 	•	 	 Floor to structure above partition with 3-5/8” x 20 gauge sheet metal studs @ 24” o.c., approved fire rated deflection track assembly @
head attached to metal deck flutes (perpendicular condition) or 16 Gauge metal plates spanning a Minimum of (2) flutes (Parallel condition), 15 lb/ft density fire proofing between metal deck flutes where occurs, one layer 5/8” Type
“X” gypsum board each side taped smooth (finished to 6” above ceiling grid), 3”x25” acoustic batt insulation creased to fit between studs. Hold back bottom of gypsum board  1/4” and perimeter seal with fire caulking each side. Stagger all
outlets in stud cavities and seal with fire rated acoustical pads. 

  

	 	•	 	 3” batt insulation between studs (R-8 rated) 

  

	 	•	 	 Partition taped, finished and receiving paint or wall covering. 

 

	 	•	 	 Partition to be fire taped above ceiling to slab above with penetrations receiving fire caulk. 

 

	 	•	 	 One hour fire rated corridor partitions to be full height or tunnel construction conforming to local code requirements 

  
 15 

 One hour- Tunnel Construction 

 

	 	•	 	 Tunnel corridor construction occurring at locations where main HVAC ducts connect to building shafts. Floor to 6”+ above ceiling grid 1-hour
partitions with 1-hour rated lid. (Exact height depends on if suspended ceiling will be installed below 1-hour lid). 

  

	 	•	 	 For walls: 3-5/8” x 20 gauge sheet metal studs @ 24” o.c., one layer 5/8” Type “X” gypsum board each side and atop
partition taped smooth, 3”x25” acoustic batt insulation creased to fit between studs. Hold back bottom of gypsum board
 1/4” and perimeter seal with fire caulking
each side. 

  

	 	•	 	 For ceilings: Option 1- Provide 20 gauge steel joists (size as required for span) with 5/8” type ‘X” gyp bd. top and bottom
(requires fire taping top side in addition to finished underside) or 

  

	 	•	 	 Option 2 – Horizontal Shaft wall assembly utilizing C-H studs, (1) layer 5/8” type “X” gypsum board on bottom side and
(1) layer 1” gypsum shaft wall liner (US Gypsum 1-hour assembly or equivalent). 

  

	 	•	 	 Independently brace assembly every 8’-0” on center with alternating diagonal braces to structure above or equivalent per code. Stagger all
outlets in stud cavities and seal with acoustical pads 

 Tenant Demising Partition 

 

	 	•	 	 Floor to structure above partition with 3-5/8” x 20 gauge sheet metal studs @ 24” o.c., approved deflection track assembly @ head attached
to metal deck flutes (perpendicular condition) or 16 Gauge metal plates spanning a minimum of (2) flutes (parallel condition), one layer 5/8” Type “X” gypsum board each side taped smooth (finished to 6” above ceiling grid),
3”x25” acoustic batt insulation creased to fit between studs. Hold back bottom of gypsum board
 1/4” and seal bottom of gypsum board with
acoustical caulk on each side. Stagger all outlets in stud cavities and seal with acoustical pads. 

  

	 	•	 	 Provide engineered return air plenum openings in walls per mechanical engineer’s direction. Locate openings to avoid private offices, conference
rooms or other rooms where sound attenuation/privacy is a concern. All return air openings in demising wall will have a sound trap. 

 Interior Partitions 
  

	 	•	 	 Standard Interior Partition Ceiling grid height with 3- 5/8” or 2-1/2” x 25 gauge sheet metal studs (depending on loading) @ 24” o.c.,
one layer 5/8” Type “X” gypsum board each side, continuous metal “J” mold @ top edge / tile, taped smooth. Independently brace partition every 8’-0” on center with alternating diagonal braces to structure above or
equivalent per code. No Insulation, unless otherwise noted in the Construction documents 

 Specialty Partitions: Large
Conference Rooms and Training room 
  

	 	•	 	 Same as Tenant Demising Partition 

 Specialty Partitions: Upgrade Interior Partitions 
  

	 	•	 	 If requested by Tenant. Cost to be reimbursed by Tenant. 

 

	 	•	 	 Install 5/8” “ type ‘X’ Gypsum wall board, sanded, primed textured (if required) and painted over 2-1/2” 25 gauge metal studs
at 24” O.C. 12” above ceiling. Provide R-11 batt insulation. Install metal stud bracing to structure above, as required by Code 

 Specialty Partitions Restrooms, janitors sink locations, or wet walls: 
  

	 	•	 	 Install 5/8” greenboard in lieu of standard GWB. 

 

	 	•	 	 Restroom wet areas shall receive full height as required by code and wainscot -height 4’-0” on all other wet area walls,

  

	 	•	 	 Square semi-gloss finish Daltile, Price Group 3 or equal or better. 

 

	 	•	 	 Other restrooms walls shall receive two coats of mildew-resistant latex paint over one coat of primer 

 

	 	•	 	 Janitor closets to receive RFP board at wet walls 4’-0” high minimum 

Specialty Partitions Columns/ Perimeter Wall Furring: 
  

	 	•	 	 Unless otherwise noted in the Construction Documents Floor to 6” above ceiling grid height with 2-1/2” x 25 gauge sheet metal studs @
24” o.c., one layer 5/8” Type “X” gypsum board one side, taped smooth. Independently brace partition every 8’-0” on center with alternating diagonal braces to structure above or equivalent per code. No insulation unless
required by Code 

  
 16 

 Partition at Mullion 
  

	 	•	 	 Walls perpendicular to windows shall be installed at the center of the window mullion. Offset shall be used when wall layer does not align with the
mullion. Utilize blind extruded aluminum tapeable track and gasket, leave end unpainted with clear anodized aluminum finish. Use black neoprene gasket at intersection between end stud and mullion. DO NOT attach into perimeter curtain wall, or window
wall system 

 09900 Paints and Coatings 
 PAINT 
 Systems delineated below are for painting new
partitions. Existing partitions shall be painted to cover using The final finish products cited below. 
  

	•	 	 All painting and coatings to be NON-VOC. 

  

	•	 	 Low-VOC painting and coatings will be considered under certain conditions and will need the approval by Building Management

  

	•	 	 Product used is to be Kelly Moore or Equal 

  

					
	1.	  	 Gypsum Board Substrate:
 (New Partitions)
	  	 1st Coat: Interior PVA Primer/Sealer.

2nd
 Coat: Acrylic
 Interior, Eggshell. Color: to be selected.
 3rd Coat:
Acrylic Interior Eggshell. Color: to be selected.

			
	2.	  	Elevator Doors & Frames:	  	 1st Coat: To be specified by Architect

2nd
 Coat: To be specified by Architect
 3rd
Coat: To be specified by Architect

		
	3.	  	Corridor, Lobby Walls & Lobby Ceiling
			
		  		  	 1st Coat: Interior PVA Primer/Sealer.

2nd
 Coat: Acrylic
 Interior Eggshell. Color: to be confirmed
 3rd Coat:
Acrylic
 Interior Eggshell. Color: to be confirmed

			
	4.	  	Corr. Hollow Mtl. Dr. Frames:	  	 Same as Walls above with Semi-Gloss paint.

			
	5.	  	Corridor ceilings (Hard Lid):	  	 1st Coat: Interior PVA Primer/Sealer.

2nd
 Coat: Acrylic
 Interior Eggshell. Color; to be confirmed
 3rd Coat:
Acrylic
 Interior Eggshell. Color: to be confirmed.

			
	6.	  	Restrooms:	  	 1st Coat: Interior PVA Primer/Sealer.

2nd
 Coat: Acrylic
 Interior Eggshell. Color: to be confirmed
 3rd Coat:
Acrylic
 Interior Eggshell. Color: to be confirmed.

 Partition Preparation: 
  

	 	•	 	 Apply first coat in normal manner. Apply second coat with standard carpet stipple roller for minimal texture. Finish or lay-off in one continuous
direction. Then apply finish coat in normal manner. 

  

	 	•	 	 Painter shall tint
2nd coat to confirm 3 coat application

 Division 10 — Specialties 

  
 17 

 10520 Fire Protection Specialties 

 

	 	•	 	 Fire extinguisher: 

 5 lb – 2A10BC hand portable fire extinguisher located in cabinets, max. +48” to working parts and spaced per code with appropriate signage. 

 

	 	•	 	 Fire Extinguisher Cabinet: 

 As selected by Architect, and approved by Equity Office 
 Division 11 —
Equipment 
 Division 12 — Furnishings 
 12500 Furniture 
  

	 	•	 	 All furniture to be provided by others unless otherwise noted. 

 Division 13 — Special Construction 
 13850 Detection and Alarm

 Building Life Safety System: 
  

	 	•	 	 Life Safety Warning Speakers/Strobe, Visual Warning: clear lamp lens, off-white housing with red “FIRE” lettering; wall mounted at
+80” A.F.F.; synchronized flash rate. 

  

	 	•	 	 Building Smoke Detectors: Ionization type in common corridors, electrical/telephone, elevator and mechanical rooms. Must be compatible with the
existing system. 

  

	 	•	 	 Tenant Local Smoke Detectors: Must be compatible with the existing system 

 

	 	•	 	 Use Building service provider for consolation, design and installation of all Fire Alarm equipment 

 

	 	•	 	 All equipment must be compatible with existing system 

 

	 	•	 	 NO EXCEPTIONS: AH Fire/Life/Safety systems must be fully operational at the end of each working day. No part of the Fire/Life/Safety system may be
left impaired overnight without a fire watch being posed and Building Management written approval. NO EXCEPTIONS 

Division 14 — Conveying Systems 
 Division 15 — Mechanical 
 15050 Basic Mechanical Materials and Methods

 Engineering: 
  

	 	•	 	 The engineering and design criteria is dependent on the existing building equipment, capacity and systems. 

 

	 	•	 	 The Tenant shall provide the HVAC Engineer with an Equipment Schedule to identify all significant equipment and their heat and power load requirements.
From this list the HVAC system will be 

  
 18 

	 	 
specifically designed and the electrical requirements will be provided. Therefore, Tenant’s accuracy and completeness is very important. 

 

	 	•	 	 Contractor shall design and install a complete heating, ventilating and air conditions (HVAC) system in accordance with the following design
specifications. The system shall match the exiting system unless noted otherwise, (heat pumps, VAV, package unites, etc.) 

  

	 	•	 	 The Contractor shall provide Design/Build services for the scope of the work, engineering and construction. Engineering shall be done by a licensed
Engineer or as required by the governing agency having jurisdiction over the project. 

  

	 	•	 	 Shop Drawings shall provide the following information as a minimum: 

 

	 	•	 	 Reflected Ceiling plan including supply diffuser and return grille locations. 

 

	 	•	 	 Equipment locations with one line duct layout. 

  

	 	•	 	 Capacity of equipment shown. 

  

	 	•	 	 Exhaust and supply volumes noted. 

  

	 	•	 	 Location of thermostats with terminal or equipment numbers identified. 

 

	 	•	 	 Roof Plan with equipment shown, (On NNN projects) 

  

	 	•	 	 Complete equipment schedules 

  

	 	•	 	 All code required Title 24 information. 

 Main building, System type 
  

	 	•	 	 Refer to existing building equipment for Main Building system type 

 

	 	•	 	 The hours of operation for comfort heating and cooling of the building are specified in the lease. Saturday, Sunday and holidays- off

  

	 	•	 	 Additional Cooling/heating provided outside of normal business hours could result in a charge, which varies, for use after normal AC hours. Please see
Building Management for current costs & procedures. 

  

	 	•	 	 Offices, rooms or computer/Server rooms that require 24X7 air conditioning shall have to install a separate system since the Base Building system does
not operate 24 X 7. A split air cooled or dry fluid cooler (for water cooled) or heat pump unit utilizing building provided condenser water if available shall be installed. Tenant shall be responsible for providing independent maintenance agreement
for all independent air condition units. The discharge of the A/C units waste heat into the return plenum will NOT be allowed. 

 An electrical sub-meter shall be installed to monitor electrical use (By Division 16) 

General Notes: 
 Design
Criteria: 
 All systems shall be designed to meet the following criteria. 

 

			
	 Outside Criteria: The HVAC system shall be designed to the latest published ASHRAE design conditions as
follows:

		
	 Summer:
	  	 ASHRAE 1.0%

	 Winter:
	  	 ASHRAE 99%

	Inside Design	  	
	 Summer: 75°F
	  	  50% RH

	 Winter: 72°F

 Temperature control 

 

	 	•	 	 Automatic temperature control device for regulation of space temperature shall be capable of being set from 55 Deg. F to 85 Deg. F, and have the
ability to operate in heating and cooling 

  

	 	•	 	 Space temperature shall be maintained within +/- 2.0F 

  
 19 

 Zoning Standards 

 

	 	•	 	 All rooms shall have HVAC unless noted otherwise 

  

	 	•	 	 Each external exposure, exterior corner offices shall have its own zone 

 

	 	•	 	 All zoning must be approved by Equity Office. 

 

					
	1.	  	Approximate Zone Size:	  	 Exterior Zone: Not to exceed 750 square feet.

Interior Zone: not to exceed 1200 square feet.

			
	2.	  	Office Zones:	  	 Offices with the same orientation shall be on a common zone with no zone serving more than (5) offices.

			
	3.	  	Independent Zones:	  	 Provide separate zoning for; different external exposures; corner & bay offices with multiple
exposures, large conference rooms, training rooms, classrooms, etc. Conference rooms shall not be supplied from multiple zones.
  

Large lobby, IDF/MDF and other specialty spaces shall have separate zones. Confirm requirements with Building
Management
  
 Interior
spaces shall be zoned separately from exterior zones

			
	4.	  	Independent Suite Zones:	  	 Individual tenant suites shall be zoned independently from adjacent suite. No cross zoning of suites at demising walls is allowed.
Contractor shall modify zoning and distribution on both sides of any new demising wall in order to provide proper working systems at each individual suite.

			
	5.	  	 Conference Rm. Exhaust

(Above Standard):
	  	 If Conference room exhaust is needed, provide fan powered terminal box to increase transfer air system. If an exhaust fan is used,
when required, is to have fan located out of the conference room and shall be controlled by an occupancy sensor

			
	6.	  	Kitchen Exhaust Fans (Above Standard):	  	 Kitchen exhaust fans, when required (to be determined by Building Management) are to have the fan
accessible through the grille. Fan to be controlled by an occupancy sensor. Confirm with Building Management if it is acceptable to discharge the fan into the return air plenum.

 

•        Note: Special use, high volume or grease hoods shall be
designed by the engineer to incorporate all code requirements to include exhaust system to the exterior of the building, fire suppression equipment, rated Shafts and any other Code requirements

 Lighting Loads: 

  
 20 

	 	•	 	 Coordinate final design loads for all spaces with electrical engineer but no less than 1.2 watts/sf minimum in all spaces. Provide Lighting Compliance
Calculations and forms as required by California Non-Residential Energy Standards. 

 Power Loads:

  

	 	•	 	 Obtain power loads for each room from tenant. In no case design for less than the following: 

 

			
	 Overall building:
	    	 1.5 watts/sf

	 Individual offices:
	    	 2.0 watts.sf

	 Conference rooms:
	    	 1000 watts

	 Break Rooms:
	    	 1500 watts

 People Loads: 
  

	 	•	 	 Provide for tenant people loads but in no case less than the following: 

 

			
	 Overall building:
	    	 1/150 sf

	 Tenant space:
	    	 1/150 sf

	 Offices:
	    	 1/100 sf

	 Conference Rooms:
	    	 1/15 sf

	 Lobby:
	    	 1/100 sf

	 Break Rooms:
	    	 1/40 sf

 Minimum air changes: 

 

			
	 Toilet rooms:
	    	 15 air changes/hr

	 Janitor Closets:
	    	 6 air changes/hr

	 Others:
	    	 Code

 Minimum Outside Air Ventilation: 

 

	 	•	 	 Ventilation shall meet title 24 code or the following which ever is the largest: 

 

	
	 0.15 cfm/sf

	 15 cfm/person

 Noise Criteria: 
  

	 	•	 	 Dependent on the existing system and equipment, the following are standard space noise levels which shall be the basis of design. In the event that new
equipment and/or systems are installed these space noise levels shall not be exceed. 

  

					
	 Enclosed Offices:
	    	 35 NC

	 Open Offices:
	    	 40 NC

	 Conference Rooms
	    	 30 NC

 Roof and Wall types: 

 

	 	•	 	 The designer shall confirm actual roof and wall types with the shell architect and calculate the appropriate U factors. Proper weights (lb/sf) and
color shall be used when calculating the loads. 

 Glass Loads: 

 

	 	•	 	 The designer shall obtain all glass and skylight types with the architect and determine the appropriate U Factors and shading coefficients (SC) to be
used when calculating the room and zone loads. When calculating the SC, the designer may assume the drapes/blinds are closed when the zone is in direct sunlight. Assume blinds are open on north facing glass. Assume blinds are open all elevations for
buildings with high performance glass 

 Seismic Design Criteria: 

 

	 	•	 	 Per California code for Seismic Zone 4, or equivalent in 2007 California Building Code. 

 

	 	•	 	 Calculations and details shall be required for all ceiling hung equipment over 400 pounds. 

System Zoning Types: 

  
 21 

	 	•	 	 The following zoning types shall be used Confirm specification and acceptability with the building Chief Engineer 

Water Cooled Heat Pumps 
 Gas Electric Package Units 
 Split system DX cooling only units
(for IDF/MDF, etc.) 
 Split System Air Cooled Heat Pumps 

VAV with Hot Water Reheat 
 VAV cooling only in interior zones 
 VAV fan powered terminal boxes
(for conference rooms or perhaps exterior zones) 
 VAV double duct 

4 pipe fan coil units (if HW and CHW is available). 
 Control Requirements: 
  

	 	•	 	 Control systems shall be compatible with the existing control systems 

 

	 	•	 	 When the building has an Energy Management System (EMS), Building Management System (BMS), or Building Automation System (BAS), the TI system shall
interface with the building system and allow remote access, control, monitoring, alarming, and data lodging from the building system. 

  

	 	•	 	 CONFIRM EXISTING MANUFACTURE OF EXISTING SYSTEM WITH THE BUILDING CHIEF ENGINEER 

 

	 	•	 	 During the course of construction, the Energy Management systems must be fully operational at the end of each working day 

Ceiling Access 
  

	 	•	 	 Ceiling Access and identification shall be provided at the following locations: 

 

	 	•	 	 All zone boxes 

  

	 	•	 	 Shut off valves 

  

	 	•	 	 Static pressure control dampers (Balance dampers) 

  

	 	•	 	 Static pressure control pilot tubes 

  

	 	•	 	 All other areas or items that pertain to serviceable building equipment 

 

	 	•	 	 All relocated or new installation of any heat pumps or VAV equipment shall have maximum clearance around the unit for servicing.

  

	 	•	 	 Fire Dampers /Combination Fire/Smoke Dampers 

  

	 	•	 	 Duct smoke detectors and interstitial smoke detectors 

 

	 	•	 	 At a hard ceiling provide a 2’ X 2’ (minimum) access or access hatch under or to ail, Valves, Controls, Exhaust fans, Heat pumps, Heating fan
coils, AC units, VAV boxes to access controls for maintenance. 

  

	 	•	 	 No heating fan coil shall have walls located below unit. Heating fan coils will be located so that proper access (minimum 2’X2’) can obtained
to Controls, Fan, Piping, Valves and Filter access panels. 

  

	 	•	 	 Furniture cubes/partition plans need to be reviewed to allow for access to equipment locations. OSHA laws don’t allow for personnel to stand on or
put ladders on furniture or cubes/ partition. 

  

	 	•	 	 Access (minimum 2’X2’) in the ceiling shall not be blocked by data wires, conduits, piping (sprinkler or plumbing), ducts, beams or bracing.

 General Specifications Standards 
  

	 	•	 	 All TI designs and installations shall conform to the latest applicable editions for the following standards 

 

	 	•	 	 AMCA- Air Movement and Control Associations 

  

	 	•	 	 ANSI- American National Standards Institute. 

  

	 	•	 	 ARI-American Refrigeration Institute 

  

	 	•	 	 ASTM- American Society for Testing Materials 

  

	 	•	 	 ASHRAE- American Society of Heating, Refrigeration and Air Conditioning Engineers 

 

	 	•	 	 ASME- American Society of Mechanical Engineers 

  

	 	•	 	 AABC- Associated Air Balance Council 

  

	 	•	 	 SMACNA- Sheet Metal and Air Conditioning Contractors National Association 

 

	 	•	 	 All applicable Plumbing, Mechanical, Electrical, and Building Codes. 

  
 22 

 Review, approval, inspection, acceptance, and record drawings 

 

	 	•	 	 In addition to those submittals and procedures identified above, the tenant shall provide the following 

 

	 	•	 	 One complete set of detailed operating and maintenance instructions and spare parts lists. 

 

	 	•	 	 One complete set of warranties and guarantees 

  

	 	•	 	 Provide air balance and final air balance report for entire suite 

 

	 	•	 	 One reproducible set of as-built drawings, and an Electronic version. See Division 1 for requirements 

Demolition: 
  

	 	•	 	 All unused or abandoned equipment or ductwork and piping within the revised areas shall be removed and capped or blanked off to the main.

  

	 	•	 	 Equity Office reserves the right, but shall not be required to keep any demolished controls or thermostats. 

Other Requirements: 
  

	 	•	 	 Confirm with the Chief Engineer if the ceiling may be used as a return plenum. 

 

	 	•	 	 Zone terminal units shall be modulating or floating control except heat pumps, split systems or package gas electric units which may be on-off or
staged. 

  

	 	•	 	 Hot water and chilled water control valves shall be the pressure independent type 

 

	 	•	 	 Filters shall be 30% ASHRAE 2” pleated (standard for heat pumps, small split systems and small package units. Filters shall be 50% efficient
cartridge filters for larger rooftop and package units or air handing units 

  

	 	•	 	 Provide all necessary condensate drains and pumps and pipe to nearest acceptable location. Coordinate with the plumbing designer.

  

	 	•	 	 Provide pipe and duct insulation per code standards. Provide continuous vapor barrier on all cooling duct insulation and on all chilled water and
refrigerant suction piping. 

  

	 	•	 	 All equipment, ductwork, and piping shall be seismically attached to the building. Contractor shall provide all necessary calculations. Provide
suitable vibration isolation (spring or rubber) to meet noise and seismic criteria. 

  

	 	•	 	 Provide all fire/smoke dampers as necessary to meet code. 

 

	 	•	 	 Provide all code required smoke detectors as necessary to meet code and to shut down equipment as required. 

 

	 	•	 	 The entire system shall be started up, tested, and commissioned by the contractor to insure it is operating to its design condition. Provide complete
start up, testing and commissioning report for acceptance by Equity Office. 

  

	 	•	 	 The entire HVAC system, excluding the existing systems, shall have a minimum 1 year parts and labor warranty from the date of acceptance by Equity
Office. Compressors shall have an additional 4 year extended parts warranty. 

 15300 Fire Protection Piping

 Codes and regulations 
  

	 	•	 	 All fire sprinkler installations shall comply with NFPA13, with Factory Mutual (FM) requirements, and with all other applicable local codes and
regulations 

 Drawings and calculations 

 

	 	•	 	 Prior to installation of fire sprinklers, provide Equity Office with complete sets of sprinkler shop drawings, including calculations, for review by
Equity Office’ Insurance representative. Do not proceed with installation without this approval 

 Sprinkler system

  

	 	•	 	 All Sprinkler system modifications shall be done to meet the same ratings as the existing building system 

 

	 	•	 	 NO EXCEPTION: 

  

	 	•	 	 Equity Office MUST BE NOTIFIED when any work is performed on the sprinkler system. Contractor shall coordinate with Equity Office a minimum of 24
hours in advance for sprinkler shut down and to put the alarm system on Test. The contractor shall NOT be allowed to put the system on test without Equity Office specific approval 

  
 23 

	 	•	 	 The system must be placed back in operation before the Sprinkler contractor leaves the building with full building coverage each work day.

  

	 	•	 	 All sprinkler work will be done during the normal work day Monday thru Friday between 7:00am. and 4:30 p.m. unless agreed upon by the Building Chief
Engineer 

 Sprinkler piping and heads 

 

	 	•	 	 Sprinkler heads shall be installed and or relocated in a symmetrical pattern. Sprinkler heads shall be centered in 2’x2’ tiles and
equidistant between lights, diffusers and other elements. Sprinkler heads shall be placed closer than the maximum spacing allowed where symmetry and even spacing dictate closer spacing 

 

	 	•	 	 Lobbies: Concealed heads with cover plates colored to match ceiling 

 

	 	•	 	 Offices: Flush chrome heads, or semi-recessed with two-piece escutcheons to match ceiling. 

 

	 	•	 	 Open ceilings where permitted: Exposed heads. 

  

	 	•	 	 Alter sprinkler system as necessitated by new partitions and ceilings 

 

	 	•	 	 Sprinkler heads shall be U.L. listed and Factory Mutual approved. Quick acting sprinkler heads,  1/2”, 155 deg. Pendent quick response. Contractor is NOT to use
any sprinkler head which has been recalled 

  

	 	•	 	 Sprinkler Piping Black Steel Schedule 40, cast iron fittings, independent support and seismic stabilization. 

 

	 	•	 	 Provide a steel, red enameled and labeled sprinkler cabinet for spare sprinkler heads as required by code. Provide spare sprinkler heads for type and
temperature rating used. Provide 1 head wrench for each sprinkler head type. 

  

	 	•	 	 Do not use O-ring type heads. Use only teflon seal type sprinkler heads. 

 15400 Plumbing Fixtures and Equipment 
 Piping: 

 

	 	•	 	 Use no plastic piping. All supply lines to be copper and drain lines will be copper under the sink up to the cast iron drain lines.

 Piping Material 
  

	 	•	 	 Hot & Cold Water: Type “L” hard drawn copper tubing with wrought copper fittings. 

 

	 	•	 	 Condensate Lines: Type “L” hard drawn copper tubing with wrought copper fittings. 

 

	 	•	 	 Soil, Waste & Vent: No-Hub cast iron soil and fittings. 

 

	 	•	 	 Valves: All valves, bail, or globe must have bronze body. Ball valves to be used only. 

 

	 	•	 	 Faucets, coffee service, water purifiers, vending machines & other misc. remote plumbing fixtures shall be fitted with copper pipe/ tubing,
and have a separate shut off ball valve at source. Tap fittings and plastic are not acceptable. 

 Sink and Fixture

 ADA compliant sink, and ADA compliant faucet, and Water Heaters 

 

	 	•	 	 Electric only. Provide air break for pop off valve and a trap primer with ball type valve. Manufacture to be approved by Equity Office. Gas headers
will only be considered for special conditions and will be approved only at the sole discretion of Equity Office 

  

	 	•	 	 Provide drain pans for water heaters and plumb to drain 

 Insta-Hot 
  

	 	•	 	 Electric only, Insta-hot / cold combo faucet. 

 Insulation: 
  

	 	•	 	 Insulation to be used on refrigerant lines, condensate lines or pans is to be closed cell insulation 

Ejector Pumps: 
  

	 	•	 	 Submittal required by Contractor. For special circumstances only and only if accepted by local jurisdictions and Building Management. Note garbage
disposals shall not be allowed with ejector pumps. 

 15700 Heating, Ventilating, and Air Conditioning Equipment

  
 24 

 Fan Assemblies 
  

	 	•	 	 All fans shall be statically, dynamically balanced at the factory, and include 200,000 hr. grease able ball bearings 

 

	 	•	 	 1” deflection spring anchorage in non critical areas such as over a restroom and a 2” deflection spring anchorage in all other areas

 Fan Motors 
  

	 	•	 	 All fan motors shall be heavy duty premium efficiency with adjustable belt tension and 1.15 or 1.25 service factor unless direct drive is only
available 

 Variable Frequency Drive Inverters with bypass, contracts shall be provided for supply and
return fans and chilled water pumps above 5 HP 
 Gas Heater Sections 

 

	 	•	 	 Gas equipment will be allowed only on the roof or mechanical enclosures outside the building (if applicable). No gas equipment will be permitted in the
building. 

 VAV 
 Box: 
  

	 	•	 	 All VAV boxes shall have 24 gauge casing with a min. of 2% leakage at 3” w.c. Box shall have and acoustically lined plenum.

  

	 	•	 	 A 3 way valve shall be installed on the unit at the farthest run of the loop 

VAV Box Location: 
  

	 	•	 	 Locate VAV boxes over non-critical areas such as store rooms or general office space where noise criteria do not exceed NC-30 within any room. Allow
thirty inches of clearance around VAV box for access. No VAV equipment shall be located above a ceiling that is non-building standard. 

 Supplemental Air Conditioning: (Above Standard) 
 General Notes: 

 

	 	•	 	 Approved manufacturers: Trane, Carrier, Mammoth, McQuay, Mitsubishi. Additional manufactures to be proposed and will be reviewed at submittal.

  

	 	•	 	 Supplemental air conditioning systems are to be self contained units including disconnect starter, controls and all necessary safeties.

  

	 	•	 	 Provide thermostat, vibration isolation hangers with seismic control. 

 

	 	•	 	 Dielectric unions to be used as required. 

  

	 	•	 	 Insulated j-hooks shall be used to keep dissimilar metals from contacting. 

 

	 	•	 	 Contractors are to confirm unit type, method of installation and capacity of unit at time of bid proposal. 

 

	 	•	 	 All supplemental units should be linked and managed by the fire panel in the Fire Control Room for fire coordination in accordance with Code
requirements 

  

	 	•	 	 All condenser water pumps, heat pumps and condensate pumps shall have pans installed with tell-tale water drains. 

 

	 	•	 	 All supplemental air conditioning shall be electrically sub-metered with digital readout (by Division 16). When applicable or as stated in lease.

  

	 	•	 	 EMS requirements shall be delineated by Building management. Contractors to confirm EMS requirements at time of bid proposal.

  

	 	•	 	 Provide local smoke detection and unit shut down as required on all fan-powered units in accordance to code. 

 

	 	•	 	 A fee will be charged for all condenser water connections. 

 

	 	•	 	 Maintenance: Tenant shall be responsible for providing independent maintenance agreement for all independent air condition units.

  

	 	•	 	 Discharge of A/C units waste heat into the return air plenum is not allowed 

  
 25 

 Supplemental A.C. Design: (Above Standard): 

 

	 	•	 	 All above standard HVAC must be pre-approved by Building Management. Heat pump system shall be equipped with local room smoke detection for fan
shutdown and have building standard seismic restraints. 

 Heat Pumps or Split Systems 

 

	 	•	 	 All new equipment shall be installed with a drain pan below the entire unit 

 

	 	•	 	 Circuit Setters will be installed with all water source heat pumps. 

 

	 	•	 	 The condenser water hoses shall be replaced with a stainless steel flow design kit hose type. 

 

	 	•	 	 All heat pumps shall have the proper fuse size and the disconnect shall be of the knife type not the rocker/ex op type. Disconnect should be as close
as possible to the heat pump and access allowable. 

  

	 	•	 	 New heat pumps shall be installed with 2” 30% ASHRAE pleated Hi-E filters. 

 

	 	•	 	 All equipment installed shall be coordinated with the Chief Engineer of the building prior to installation. 

 

	 	•	 	 All equipment is to be installed to allow for adequate clearances for servicing. 

 

	 	•	 	 All electrical access panels must have clearances as specified in the UEC and/or CEC. 

 

	 	•	 	 Filter access to the units must be reasonable. (Consult Chief Engineer for final approval) 

 

	 	•	 	 Unit location must be coordinated with furniture layout to allow for units to be accessed. 

 

	 	•	 	 All units are to have ducted supply and ducted return air or Hvw plenum return as applicable for the building system. 

 

	 	•	 	 Units are to have ducted fresh outside air to return air plenum within three feet of the heat pump intake provided from house fresh air system Units
must have kinetic spring vibration isolators as provided by vendor of units. If an alternative is selected, submittals must be submitted to the Chief Engineer for review and approval. 

 

	 	•	 	 All units are to be seismically supported per applicable codes (UBC, UMC or applicable Local Codes). 

 

	 	•	 	 All units where ever possible are to be 480V/3 Ø 

 

	 	•	 	 Unit thermostats are to be placed in the room that is conditioned. 

 Condenser water piping 
  

	 	•	 	 All condenser water piping shall be of Type L or greater copper pipe or supplemented with brass fittings as needed. There shall not be any galvanized
or black iron pipe installed in the condenser water system unless approved by Building Management 

  

	 	•	 	 All new isolation valves shall be “Nibco” or equivalent ball valves with a minimum 125 WOG pressure rating. No gate, globe or angle valves.

  

	 	•	 	 All newly installed heat pumps shall have “Petes Plugs” installed in both the supply and return condenser water lines. The Petes Plugs shall
be installed such that a standard piercing type pocket thermometer may be easily inserted for temperature readings. A “Jomar” style ball valve shall be installed on the high line of the unit as a vent and on the low line as a drain. Both
of these valves shall contain a plug to prevent any water damage from valve failure or accidental opening. 

  

	 	•	 	 All condenser water piping 1” and above shall be brazed using silver solder. All joints less than 1” can be brazed or soft soldered using
Silvabrite #8 or Staysilv 100 type solders. 50/50 type solders are not to be used on the condenser water piping. 

  

	 	•	 	 HVAC contractor shall schedule with the engineering Dept. for shut down scheduling, draining of system and review the scope of work to be performed.

 Condensate Drain Piping 
  

	 	•	 	 All condensate drains are to be installed such that at the unit the drain line can be easily disconnected for service or maintenance and reconnected.
This can be done by either unions or flexible hose and hose clamps. 

  

	 	•	 	 All condensate drain piping is to be Type M or better copper. 

 

	 	•	 	 All condensate drains are to be gravity drains. If a gravity drain is not possible, installing a condensate pump must be consulted and approved by the
Chief Engineer 

  

	 	•	 	 If a condensate pump is installed it must be supported with a heavy gage metal support and electrical connections to the condensate pump must be both
UL and NEC approved. Use of a typical, above ceiling duplex outlet is NOT acceptable 

  
 26 

	 	•	 	 Condensate pumps shall be equipped with an auxiliary switch to allow for the compressor to be locked out in the event of a pump failure. This switch
must be tied into the unit controls. 

  

	 	•	 	 Condensate pumps shall contain a check valve at the discharge of the pump. 

 

	 	•	 	 No more than 12” of flexible tubing is allowed from the discharge of the condensate. At this point copper piping must be introduced and piped to
an applicable drainage point. 

 15800 Air Distribution 
 Tie-in to base system requirements 
  

	 	•	 	 HVAC contractor shall schedule with Building Management for shut down scheduling and review the scope of work to be performed.

 Ducts, general 
  

	 	•	 	 AH ductwork installed shall meet SMACNA standards and comply with all applicable local and UMC codes. Provide seal class A for all ducts 4” sp and
above and seal class C for all others. 

  

	 	•	 	 Medium Pressure Ducts: The ductwork upstream of the VAV box shall be Medium pressure and velocity construction (galvanized Sheet metal). Pressure is
not to exceed 2” water column and velocity not to exceed 2,000 fpm. Flex duct is not to be reused. Only Hard duct or Alumifiex shall be installed. 

 

	 	•	 	 Low Pressure Ducts: The ductwork downstream of the VAV box shall be low pressure and low velocity construction. Pressure is not to exceed 0.107100 ft.
velocity shall not exceed 1,500 fpm. Flex duct is not to be reused. Hard duct or Preinsulated Alumifiex shall be installed except at diffuser connection. Where it is cost prohibitive to install alumifiex or hard metal duct “wire flex” may
be installed upon written authorization of the Chief Engineer 

  

	 	•	 	 All ducts or heat pumps will be strapped or braced per SMACNA requirements and will not touch, rub, lean against any other supports or equipment. This
will stop any vibrations from traveling to the ceiling grid, thus causing tenant complaints 

  

	 	•	 	 All final connections to supply or return air grilles shall be made with acoustical sound flex. This duct is to not be longer than 6’0” and
shall contain a manual balancing damper with visible ribbon on arm of damper 

  

	 	•	 	 Joints in all supply and return air ducts shall be sealed. Duct work shall be run as high as possible to maintain maximum clear head room below ducts

  

	 	•	 	 Ductwork shall be sized as necessary to meet the noise criteria and to minimize operating cost. Low velocity duct shall not exceed 1500 fpm or
0.10”/100 ft. Medium/high pressure duct (upstream of terminal boxes) shall not exceed 2000 fpm or 0.30 “/100 ft 

Ductwork joint tape 
  

	 	•	 	 “Hardcast” or SMACNA standard tape. 

  

	 	•	 	 Only plenum rated tape shall be used above the ceiling. (i.e. aluminum tape), NO DUCT TAPE is allowed 

Insulated duct 
  

	 	•	 	 All ducts located in non-conditioned spaces shall be insulated Insulate all ductwork with foil faced fiberglass insulation  3/4 Pd density 2” thick and shall be wrapped with a vapor barrier

 Diffusers, registers and grilles 

 

	 	•	 	 All supply diffusers and return grills shall be supported with independent wires 

 

	 	•	 	 Diffusers and grilles shall match the existing air distribution devices. Curve blade diffusers are not acceptable 

 

	 	•	 	 All diffusers and grilles shall include a balance damper up stream of 6 feet of sound adsorbing flex duct 

 

	 	•	 	 Diffuser shall provide 4-way throw and not exceed NC 30 at point of discharge Alter existing HVAC system as required by new construction. Field
verification required to determine exact scope 

  

	 	•	 	 Supply air grills/diffusers shall not be placed over tenant’s heads or over thermostats. If available furniture plans need to be reviewed for
proper placement 

  

	 	•	 	 All supply air grills, new or existing will have a damper along with a colored ribbon (minimum 12” in length) hanging from the damper arm so it
may be located 

  
 27 

 Return air 
  

	 	•	 	 Return Air Grills: Match supply diffusers in appearance with perforated grill. 

 

	 	•	 	 24”x24” perforated return grilles shall be provided in each office. All offices, rooms or spaces which are identified to be sound mitigated,
shall have a ducted return air grill. 

  

	 	•	 	 All units are to have ducted fresh outside air to return air plenum provided from house fresh air system (applicable for heat pump systems)

  

	 	•	 	 Open area return air grilles shall not be spaced greater than 1,000 s.f. of area. 

 

	 	•	 	 Provide return air smoke / fire dampers through fire walls with indicators and testing switches. To be connected to the existing building FLS system
(by Division 16). To meet Local, State, Federal codes. 

 Supply air 

 

	 	•	 	 Supply air grill shall be based on the noise rating and required flow and will have a 4 to 6 foot take off from the main or branch duct to the grill so
there will be no air howling noise from any grill. All CFM amounts per grill shall be approved by the Chief Engineer. More flexibility for amount of CFM per grill may be used in special applications, such as computer rooms, server rooms, storage
rooms or when agreed upon with engineering. 

  

	 	•	 	 Sizing of supply air grill shall be 0.10” W.G. or less. 

 

	 	•	 	 Provide supply air smoke / fire dampers through fire walls with indicators and testing switches. To be connected to the existing building FLS system
(by Division 16) and meet Local, State, Federal codes. 

 Dampers 

 

	 	•	 	 Balancing dampers shall be provided for all low pressure branch ducts I.D. Balance Dampers shall be installed for each supply air grille such that
access is adequate. All damper-balancing handles shall be clearly marked and flagged tagged with a 12” colored ribbon. 

  

	 	•	 	 All fire dampers are to be pre-approved by Building Management 

 Draw-through filter section 
  

	 	•	 	 Units shall include an integrated filter rack and 30 % pleated disposable fiberglass air filters, must be UL rated for flammabiiity

 Sound attenuators 
  

	 	•	 	 Provide sound attenuators where shown 

 Fire and smoke dampers 
  

	 	•	 	 UL listed with clearly marked door access to damper motors: 

 

	 	•	 	 Ruskin Fusible Link, meeting the rating of the application. 

 

	 	•	 	 Combination Smoke: Ruskin 120VAC with end switches Fire Dampers Center Verify Fire Damper: NFPA, UL, BSA or MEA, CSFM, and applicable building codes

  

	 	•	 	 Provide with suitable smoke detectors that are compatible with the fire alarm system or provide addressable relays to connect to the fire alarm system.
In many cases a zero flow detector will be required in a VAV system to insure operations at all conditions 

 Smoke
detectors 
  

	 	•	 	 Ionization type or Photo-electric type in supply duct of units 2000 cfm and over (or according to Code). Detectors must be compatible with the existing
system 

 15900 HVAC Instrumentation and Controls 
 Control standard 
  

	 	•	 	 Match existing building controls 

  

	 	•	 	 If a new controls system is proposed, submit to Equity Office for review and approval 

 

	 	•	 	 Thermostats shall be mounted at + 48” above finished floor adjacent to light switches to comply with accessibility requirements. Final location of
thermostats subject to approval of Building Management. No thermostat shall be mounted in direct sunlight. 

  
 28 

 15950 Testing. Adjusting., and Balancing 

Balancing 
  

	 	•	 	 Provide air and water balance and final balance report for entire suite 

 

	 	•	 	 For projects over 10,000 SF, balancing shall be done by an independent contractor, third party, and must be AABC or NEBB certified.

  

	 	•	 	 New equipment shall be started, tested and results sent to engineering. Model number, serial number and filter size will be included in the equipment
start up report 

 Report 
  

	 	•	 	 Report shall include the following 

  

	 	•	 	 Design Calculations 

  

	 	•	 	 Initial Balance reading, including system static pressure 

 

	 	•	 	 Final balance setting 

  

	 	•	 	 Thermostat location 

  

	 	•	 	 Zone equipment number 

  

	 	•	 	 Number of supply air grilles on each zone 

  

	 	•	 	 Number of offices on each zone 

  

	 	•	 	 Recommendations for any zones not achieving Contractor designed calculations +/- 10% 

Division 16 — Electrical 

16050 Basic Electrical Materials and Methods 
 General: 
  

	 	•	 	 The Contractor shall provide Design/Build services for the scope of the work, engineering and construction. Engineering shall be done by a licensed
Engineer or as required by the governing agency having jurisdiction over the project 

  

	 	•	 	 All Electrical work shall be done using a Lock Out. Tag Out procedure. Review procedure with Building Management prior to start of any electrical work

  

	 	•	 	 Any electrical panels which have their dead front covers removed and are live must be safed off with a nonconductive temporary cover and labeled as an
electrical hazard 

 Provisions 
  

	 	•	 	 Except as otherwise indicated, comply with applicable provisions of NEC and standards by NEMA, for electrical components of general work. Provide UL
listed and labeled products where applicable. Electrical components are recognized to include, but not by way of limitation, motors, motor starters, internal equipment wiring, integral control switches and similar electrical devices, electrical
heating coils, integrated lighting equipment, electronic equipment, electrical sensors and signals, communication equipment, scientific devices and similar electrical components 

 

	 	•	 	 Approved panel board, switch gear, and transformer manufacturers are Siemens, Cutler Hammer and Square D. Exceptions must be approved prior to
installation 

  

	 	•	 	 Panel boards shall consist of a galvanized cabinet with dead front, dead rear and with surface or flush trim. Doors shall be hinged and Iockable with
index cardholder for circuit identification. (Index card schedules must be updated with changes. Old cards to be discarded.) 

Power standards 
  

	 	•	 	 Number of Duplex outlets per circuit, 6 maximum. @ 20 amp commercial grade receptacles and commercial light switches. 

 

	 	•	 	 System furniture, J-box to be 8-wire, 4 circuit unless noted otherwise. Verify with Equity Office prior to engineering. 

  
 29 

	 	•	 	 All phone outlets shall be 18” A.F.F. unless noted otherwise. Provide EMT conduit, stubbed to accessible ceiling, box/mudring and pull string
at rated walls. Boxes and mudrings to accommodate modular wall plate or equal. Ring and string may be used at non rated walls 

  

	 	•	 	 Telephone/Data Equipment room shall have two isolated dedicated ground 4-plex receptacles at locations to be determined, unless otherwise noted.

  

	 	•	 	 Server room to be provided with three 20 amp dedicated 4-plex receptacle and one duplex outlet on the wall opposite the 4-plex unless otherwise
noted. 

  

	 	•	 	 Vending areas to have minimum 3 dedicated circuits and 1 each 208V outlet, unless otherwise noted. 

 

	 	•	 	 Kitchen/Break rooms shall have minimum 3 dedicated circuits (microwave, coffee maker and ice maker), unless otherwise noted.

  

	 	•	 	 Private offices to have minimum 2 duplex outlets and one dual phone/data outlet, unless otherwise noted. 

Load Calculations 
  

	 	•	 	 Provide load calculation from transformer for any new panels, must be approved by Equity Office before install 

 

	 	•	 	 A 48 hour load test may be required by Building Management to determine actual load on an existing transformer before adding any additional load

 Demolition: 
  

	 	•	 	 Removal of all fixtures and circuits back to the breaker will be required if not used in the construction/T.I. 

16200 Electrical Power 

General Notes: 
  

	 	•	 	 Contractor to insure that no new circuits are split between tenants. 

 

	 	•	 	 All electrical wiring shall be installed in MC Cable and EMT and be properly supported per code. EMT and MC Cable should not interfere with the area
in which recessed light fixtures may be installed if at all possible. 

  

	 	•	 	 All telecommunication wiring shall be independently supported 18” above ceiling grid per code (4’-0” o.c.). Do not attach to ceiling
support/bracing wires, ductwork or any other existing apparatus other than structure above. 

  

	 	•	 	 All sensor or control wires must be fire rated and tied up off of ceiling tile. 

 

	 	•	 	 Fire caulk all penetrations through fire-rated walls with approved products. 

 

	 	•	 	 Designs shall include convenience outlets for janitorial and maintenance services to placed 50 feet on center throughout the tenant and core spaces.
This may be on a limited number of circuits and for that reason may not be used for tenant equipment. 

  

	 	•	 	 All power outlets to be mounted at +18” above finished floor, unless otherwise noted. Outlets above +18” shall meet all height / reach
requirements of The American’s with Disabilities Act and The California building code, current editions. 

  

	 	•	 	 Outlets located in “Wet” areas shall be configured with GFI circuits/outlets accordingly per code. 

 

	 	•	 	 Any unprotected cabling/wiring in plenum shall be plenum rated. 

 Conduit: 
  

	 	•	 	 The code requiring the higher - quality or more complete installation shall govern. 

 

	 	•	 	 Conduits and raceways shall generally be installed concealed in walls, furred spaces, under floor, underground, ceiling spaces or other spaces
provided, complete with supports, hangers, hardware, etc. firmly attached to the structure and supported as specified in the NEC 

  

	 	•	 	 Exposed conduit shall be installed parallel to building lines, and plumb. Requests must be submitted in writing to Building Management and
Contractor must receive written approval from Building Management prior to work commencing. 

  

	 	•	 	 Flexible metallic conduit (MC cable) may be used within all walls for electrical circuitry, outlets, switch legs, coax cabling and telephone wiring.
EMT conduit shall be used from distribution J-boxes to panels. EMT conduit shall be used at panels. 

  

	 	•	 	 All in-wall conduits are to be properly secured to metal studs with approved bracing 

  
 30 

	 	•	 	 Flexible metallic conduit may be used to connect light fixtures or suspended equipment where movement or removal is necessary. Modular wiring is
acceptable (AFL or equal) where applicable and approved by Building Management 

  

	 	•	 	 Each system shall be contained in a separate conduit system. This includes each power system, each lighting system, each signal system of whatever
nature, telephone, emergency system, control system, fire alarm system, etc 

  

	 	•	 	 Each panel board shall be labeled with identification plates of 1” x 4” white on black Micarta indicating panel name or number. Contractor
shall provide type written index cards for all panel boars, identifying each circuit breaker 

  

	 	•	 	 Directories are to be typed and should include panel ID, ID of source panel, panel voltage and amperage ratings, name of electrical contractor, and
date. All panel directories are to be updated and all new or revised circuits must be clearly identified. 

  

	 	•	 	 Circuits are to be identified by suite # (not tenant name). 

 

	 	•	 	 All panel covers are to be labeled with panel ID, ID & location of source panel, and panel voltage & amperage ratings.

  

	 	•	 	 All electrical devices (Duplexes, four-plexes, pull-cans, furniture whips, j-boxes, j-boxes in ceilings, etc.) shall be labeled on the front
cover/surface with a P-Touch label device (or equal) with panel designation and circuit number. Identify dedicated outlets / circuits where occurs. 

  

	 	•	 	 Junction boxes shall be labeled identifying panel and circuit number. 

 

	 	•	 	 Each outlet cover plate shall be labeled identifying panel and circuit number. 

Conductors 
  

	 	•	 	 All conductors shall be copper. No aluminum conductors are permitted, even if allowed by code 

 

	 	•	 	 Unless noted otherwise, all wire for lighting circuits and receptacle circuits shall be new UL listed annealed soft drawn copper, 600 volt insulated
rated THHN and shall not be less than #10 AWG. Conductors sized #8 and larger will be stranded 

  

	 	•	 	 20 amp minimum capacity 

Wiring: 
  

	 	•	 	 All wire and cable shall be color coded as follows: 

  

			
	 120/208V, Phase, 4W systems

	 A phase - Black
	  	 Neutral - White

	 B phase - Red
	  	 Ground - Bare or Green

	 C phase - Blue
	  	
	 277/480V, 3 Phase 4W systems

	 A phase - Brown
	  	
	 B phase - Orange
	  	
	 C phase - Yellow
	  	

  

	 	•	 	 All conductors shall be in rigid steel conduit or Electrical Metallic Tubing (EMT) where permitted by code 

Fittings 
  

	 	•	 	 All boxes and fittings shall be galvanized steel. No plastic boxes or fittings are permitted, even if allowed by code. 

 

	 	•	 	 All electrical boxes concealed within wails shall be minimum 4” square by 1-1/2” deep with a plaster extension ring

 Wall Mounted Outlets: 
 Duplex Outlets, as specified by Architect or to match existing 
 Dedicated Duplex: As
specified by Architect or to match existing 
 Wall Mounted Base Feed (for furniture systems): 

Four Gang Box with circuits as indicated on architectural or electrical drawings. Furniture power feed whip to be provided
by tenant, connected to J-box by contractor, connected to furniture by tenant’s vendor. 
 Ceiling Furniture feed: (for
furniture systems power pole applications) 

  
 31 

 Four Gang Box with circuits as indicated on architectural or electrical
drawings. Furniture power feed whip to be provided by tenant, connected to J-box above ceiling by contractor, connected to power pole by tenant’s vendor. 
 Floor Outlets: 
  

	 	•	 	 Floor Outlet Base Feed for furniture systems: Above Standard 

 

	 	•	 	 Flush Floor outlet: Above Standard 

 Special Purpose Outlets: Above Standard 
 These outlets may
be provided as required at Tenant’s expense. Wall Devices/cover plates to coordinate with Leviton Standard White 
 Emergency circuit

  

	 	•	 	 The emergency circuits are for emergency lighting, exit signage and fire life safety ONLY 

16500 Lighting 
 General Notes:

  

	 	•	 	 If the property has an existing Energy Management System (EMS) then all lighting shall be connected and controlled by the (EMS). At a minimum
contractor shall provide a lighting control panel capable of sweeping off the lights on a 2 hour interval after normal business hours. 

  

	 	•	 	 All EMS work shall be coordinated with the chief engineer and included on the engineered electrical plans. 

 

	 	•	 	 All lighting and switching shall conform to the State of California Title 24 lighting regulations including dual circuited independent switching for
50% of the lighting, separate switching of day lit areas and other mandated requirements. 

  

	 	•	 	 Tenant spaces are typically already furnished with lay-in 2’x4’ and 2’x2’ parabolic fluorescent light fixtures and in some cases
have above standard down lights and accent lights. Existing fixtures may be re-used/relocated and supplemented with new bldg. std. fixtures as required. 

 

	 	•	 	 Ballast and lamp replacement for Above Standard lighting is the responsibility of the tenant. 

 

	 	•	 	 Contractor shall insure that existing and new lighting is controlled by controls within each suite. Each tenant shall be independently zoned.

  

	 	•	 	 See Building Standard light fixtures delineated below. 

 

	 	•	 	 Light switches shall be mounted at +48” above finished floor unless other wise noted. 

 

	 	•	 	 Replace burned out lamps, bad ballasts and damaged lenses in existing fixtures to be re-used as required. 

Tenant Florescent fixtures 
  

	 	•	 	 2’ X 4’ two tube high efficiency T-5 florescent fixtures using white reflectors, Magnetek rapid start electronic ballast, and 18 cell
parabolic lenses, Lithionia 2PM3N-ST-B-2-32-18-LD-277-GEB10IS or approved equal, except where accent lighting is desired, in which case compact florescent down lights will be used. 2’ X 2’ two tube T - 5 White reflector
fluorescent fixtures with Magnetek rapid start electronic ballast. 9 cell parabolic lenses. 

  

	 	•	 	 Where noted on plans and per code, provide 24 hour night lights/emergency lights connected to emergency generator back-up per code

  

	 	•	 	 Lamps 

 2 Foot P/N # ; FB32T8TL735/6*P or FB32T8/TL735/6ALTO*P , 4 Foot P/N # ; F032/735*S and compact florescence shall be of 735 color 

 

	 	•	 	 Light fixture ballast’s 

 All fluorescent light fixtures shall have electronic T-5 ballast’s. No ballast’s containing PCB’s are permitted 
 Corridor Lighting: 
 Exit Lights: 

 

	 	•	 	 Existing building has a number of different Exit Lights types. Re-use of existing shall be at the discretion of Building Management.

  
 32 

	 	•	 	 Exit signs are ceiling mounted exit signs shall have battery backup 

 Controls 
  

	 	•	 	 Building system description 

  

	 	•	 	 Programming of lighting control will be the responsibility of the contractor to inform the building engineers of the relay numbers and circuits to be
programmed. 

  

	 	•	 	 Requirements: 

  

	 	•	 	 Comply with the latest edition of the National Electrical Code and all other applicable codes and regulations 

Switches: 
  

	 	•	 	 Light switches to be Commercial Specification Grade Quiet Switch style: rocker switch dual switching as required by Code. 

Occupancy Sensors: 
  

	 	•	 	 Occupancy sensors to be used comply with the latest edition of the National Electrical Code and all other applicable codes and regulations to

 16700 Communications 
 TELEPHONE AND DATA CABLING: 

General Notes 
  

	 	•	 	 Telephone and data cabling provision and installation is the responsibility of the Tenant, and is not included as part of the Building Standard
Improvements. 

  

	 	•	 	 All Tenant equipment shall be installed in the Tenant Suite. No Tenant equipment will be allowed in the IMPO or common building closets

  

	 	•	 	 It is the responsibility of the Contractor to coordinate and identify the period of time during construction in which this communication cable work
should be completed. 

  

	 	•	 	 Cable run in the return-air plenum shall be plenum rated. 

 

	 	•	 	 Dial tone is available from IMPO. Tenant shall Contract with the buildings designated vendor to bring dial tone into the suite. Once in the suite,
Tenant may utilize any Landlord approved vendor to complete the tele/data installation. 

  

	 	•	 	 Vacating tenants will be responsible for timely removal of any/all abandoned communications and/or network cabling from end to end in all pathways
and spaces and removal of any voice cross connect cabling inside the building riser system that is no longer in use. 

  

	 	•	 	 Contractor shall be responsible for labeling and identifying any/all communications and/or network cabling in any common area, i.e. riser phone
closets and common hallways. Communications cabling must be labeled and identified every fifteen feet vertically and every 30 feet horizontally, stating who owns the cables and what the cables end to end destination is. This is also a requirement
for cable feeding floor monuments 

  

	 	•	 	 Where Floor Phone/Data is provided, Contractor shall provide conduit from below floor up through wall day lighting 6” above ceiling with
appropriately sized conduit 

  

	 	•	 	 All tele/data outlets to be mounted at +18” above finished floor, unless otherwise noted. Outlets above +18” shall meet all height / reach
requirements of The American’s with Disabilities Act and The California building code, current editions. 

  

	 	•	 	 Where the path to tele/data outlets requires a change of direction or where walls are insulated, provide appropriately sized conduit day lighting
6” above ceiling. 

 Wall Tel/Data Outlet: 

 

	 	•	 	 Gypsum board ring with nylon pull-string to ceiling plenum above. 

 

	 	•	 	 Outlet: As specified by Architect or to match existing 

 

	 	•	 	 Tenant to specify and provide 

  

	 	•	 	 Telephone Backboard: 

  
 33 

	 	•	 	 4’ x 8’ x 5/8” fire treated plywood, mounted above base, painted to match adjacent wall. Do not paint (1) fire label.

  
 34 

 EXHIBIT B-4 

SUNNYVALE BUSINESS CENTER 
 CONSTRUCTION CLOSE-OUT REQUIREMENTS 
 The Contractor
shall furnish the following documents, as applicable, and other materials in order to complete close-out (the “Project Close-Out Documentation”). 

1.        Actual permit drawings, with original municipal approval stamps and red
lines. 
 2.        Original permit cards with signed final approvals.

 3.        A copy of the Certificate of Occupancy when applicable.

 4.        Two sets of As-Built drawings, for Architectural,
Mechanical/Plumbing, Electrical, Fire Protection, and Life Safety trades. 

5.        Three sets of Project close-out binders, two of which shall be in
electronic form and one of which shall include paper copies (except where CAD files are to be provided below.) The close out binders shall include: 
 •        CAD Files of as-builts burned on CDs for the following trades: Mechanical, Electrical, Plumbing, Fire Protection and Life Safety. 

•        If requested by Owner, all approved submittals: with separate
sections for all finishes, including samples with manufacturers’ color and style numbers; for doors, frames and hardware; for ceiling grid and tile information, and for electrical and mechanical submittals. 

•        If requested by Owner, all approved submittals for specialty
construction items, such as audio-visual equipment. 
 •        All
warranty information, including instruction manuals for installed equipment, including audio-visual equipment, as well as operation and maintenance instructions. 

•        If requested by Owner, copies of all Requests for Information and
responses as well as all Construction Change Directives. 

•        HVAC Balancing reports 

All CAD files shall meet the following requirements: 

•        Files must be saved in Autodesk version of AutoCAD 

•        The Contractor is responsible to confirm which version of the
AutoCAD is being used by Owner prior to submitting the AutoCAD files 

•        Files must be unlocked and fully accessible. Owner will not accept
“cad-lock”, read-only, password protected or “signature” files. 

•        Files must be in “.dwg” format. 

6.        Complete list of all Subcontractors who have provided labor or
materials for the Project and who have provided pre-lien notices, including current contact information for each. 
 The Owner will not be obligated to process the Contractor’s final pay application, nor to release retention or any other funds remaining due or owing to Contractor until all Project Close Out
Documentation has been duly submitted to Owner and Architect. 

  
 Exhibit B-4

 1 

 EXHIBIT C 

SUNNYVALE BUSINESS CENTER 
 NOTICE OF LEASE TERM DATES 

                      
          , 20     
  

											
	 To:
	    	  
	  		  		  		  	
		    	  
	  		  		  		  	
		    	  
	  		  		  		  	
		    	  
	  		  		  		  	

 Re:        Office Lease (the
“Lease”) dated June 28, 2011, between CA-SUNNYVALE BUSINESS CENTER LIMITED PARTNERSHIP, a Delaware limited partnership
(“Landlord”), and TELENAV, INC., a Delaware corporation (“Tenant”), concerning 920 DeGuigne Drive, 930 DeGuigne Drive and 950 DeGuigne Drive,
Sunnyvale, California. 
 Lease ID:
                                         
                    
 Business Unit Number:
                                     

Dear
                                : 

In accordance with the Lease, Tenant accepts possession of the Premises and confirms the following: 

 

	 	1.	The Lease Commencement Date is
                         and the Lease Expiration Date is
                            . 

 

	 	2.	The approximate number of rentable square feet within the Premises are 175,009 rentable square feet, subject to Article 1 of the Lease. 

 

	 	3.	Tenant’s Share, based upon the approximate number of rentable square feet within the Premises, is 100%, subject to Article 1 of the Lease.

 Please acknowledge the foregoing by signing all three (3) counterparts of this letter in
the space provided below and returning two (2) fully executed counterparts to my attention. Please note that, pursuant to Article 2 of the Lease, if Tenant fails to execute and return (or reasonably object in writing to) this letter
within five (5) days after receiving it, Tenant shall be deemed to have executed and returned it without exception. 
  

					
	 “Landlord”:

	
	 CA-SUNNYVALE BUSINESS CENTER

LIMITED PARTNERSHIP, a Delaware limited

partnership

		
	 By:
	    	 EOP OWNER GP L.L.C.,
 a Delaware limited liability company,
 its general partner

			
		    	By:	 	  

			
		    	Name:	 	  

			
		    	Title:	 	  

  
 Exhibit C

 1 

 Agreed and Accepted as 

of                     ,
201     . 
 “Tenant”: 

 

			
	 TELENAV, INC.,

a Delaware corporation

		
	 By:
	 	  

		
	 Name:
	 	  

		
	 Title:
	 	  

  
 Exhibit C

 2 

 EXHIBIT D 

SUNNYVALE BUSINESS CENTER 
 RULES AND REGULATIONS 
 Tenant shall comply with the
following rules and regulations (as reasonably modified or supplemented from time to time, the “Rules and Regulations”). In the event of any conflict between the Rules and Regulations and the other provisions of this Lease, the
latter shall control. 
 1.        Upon the expiration or earlier
termination of the Lease, Tenant shall deliver to Landlord all keys and passes for offices, rooms, parking lot and toilet rooms which shall have been furnished Tenant. If the keys so furnished are lost, Tenant shall pay Landlord therefor.

 2.        Any damage to the Buildings, their contents, occupants or
invitees resulting from Tenant’s moving or maintaining any safe or other heavy property shall be the sole responsibility and expense of Tenant (notwithstanding anything to the contrary in Article 7 or Section 10.5 of the
Lease). 
 3.        The sidewalks, exits and entrances located in the
Exterior Areas of the Project shall not be obstructed by Tenant or used by Tenant for any purposes other than for ingress to and egress from the Premises. Tenant shall lend its full cooperation to keep such areas free from all obstruction and in a
clean and good condition and shall move all supplies, furniture and equipment as soon as received directly to the Premises and move all such items and waste being taken from the Premises (other than waste customarily removed by employees of the
Premises) directly to the shipping platform at or about the time arranged for removal therefrom. 

4.        Tenant shall not place anything, or allow anything to be placed near
the glass of any window, door, partition or wall which may, in Landlord’s reasonable judgment, appear unsightly from outside of the Buildings, except as provided in the Lease. 

5.        Landlord shall have no obligation to provide guard service or other
security measures for the benefit of the Premises or the Project. Tenant assumes all responsibility for the protection of Tenant and its agents, employees, contractors and invitees, and the property thereof, from acts of third parties, including
responsibility for keeping doors locked and other means of entry to the Premises closed, whether or not Landlord, at its option, elects to provide security protection for any portion of the Project. Tenant further assumes the risk that any safety or
security device, service or program that Landlord elects, in its sole and absolute discretion, to provide may not be effective, or may malfunction or be circumvented by an unauthorized third party, and Tenant shall, in addition to its other
insurance obligations under this Lease, obtain its own insurance coverage to the extent Tenant desires protection against losses resulting from such occurrences. Tenant shall cooperate in any reasonable safety or security program required by Law.

 6.        Tenant shall promptly remove all rubbish and waste from the
Premises. 
 7.        Landlord may, from time to time upon reasonable
prior notice to Tenant, modify or supplement these Rules and Regulations in a manner that, in Landlord’s reasonable judgment, is appropriate for the safety and protection of the Premises. Notwithstanding the forgoing, such new or amended Rules
and Regulations shall not materially increase Tenant’s obligations under the Lease or materially impair Tenant’s rights under the Lease. 

  
 Exhibit D

 1 

 EXHIBIT E 

SUNNYVALE BUSINESS CENTER 
 HAZARDOUS SUBSTANCES DISCLOSURE CERTIFICATE 
 Your
cooperation in this matter is appreciated. Initially, the information provided by you in this Hazardous Substances Disclosure Certificate is necessary for the Landlord to evaluate your proposed uses of the premises (the “Premises”)
and to determine whether to enter into a lease agreement with you as tenant. If a lease agreement is signed by you and the Landlord (the “Lease Agreement”), on an annual basis in accordance with the provisions of
Section 25.2 of the Lease Agreement, you are to provide an update to the information initially provided by you in this certificate. Any questions regarding this certificate should be directed to, and when completed, the certificate
should be delivered to: 
  

			
	 Landlord:
	 	 c/o Equity Office

		 	 2655 Campus Drive, Suite 100

		 	 San Mateo, CA 94403

		 	 Attn: Market Officer

		 	 Phone: (650) 372-3500

 Name of (Prospective) Tenant: TELENAV,
INC., a Delaware corporation 

Mailing Address:                
                                         
                                         
                                         
                                         
                        
  

 
  

	
	
Contact Person, Title and Telephone Number(s):                
                                         
                                         
       

Contact Person for Hazardous Waste Materials Management and Manifests and Telephone

Number(s):                     
                                         
                                         
            
  

 
  

 
 Address of (Prospective) Premises: 920 DeGuigne Drive, 930 DeGuigne Drive and 950 
 DeGuigne Drive, Sunnyvale, California 
 Length of (Prospective)
initial Term: Eight (8) years 
  

	1.	GENERAL INFORMATION: 

 Describe the proposed operations to take place in, on, or about the Premises, including, without limitation, principal products processed, manufactured or assembled, and services and activities to be
provided or otherwise conducted. Existing tenants should describe any proposed changes to on-going operations. 
  

	
	  

	  

 

	2.	USE, STORAGE AND DISPOSAL OF HAZARDOUS SUBSTANCES 

  

	 	2.1	 Will any Hazardous Substances be used, generated, treated, stored or disposed of in, on or about the Premises? Existing tenants should describe any
Hazardous Substances which continue to be used, generated, treated, stored or disposed of in, on or about the Premises. 

  

									
	 Wastes
	  	 	Yes 	 ̈ 	 	No  ̈	 	
				
	 Chemical Products
	  	 	Yes 	 ̈ 	 	No  ̈	 	
				
	 Other
	  	 	Yes 	 ̈ 	 	No  ̈	 	

  

			
	 If Yes is marked, please explain:
	 	  

	  

	  

  

	 	2.2	 If Yes is marked in Section 2.1, attach a list of any Hazardous Substances to be used, generated, treated, stored or disposed of in, on or about
the Premises, including the applicable hazard class and an estimate of the quantities of such Hazardous Substances to 

  
 Exhibit E

 1 

	 	 
be present on or about the Premises at any given time; estimated annual throughput; the proposed location(s) and method of storage (excluding nominal amounts of ordinary household cleaners and
janitorial supplies which are not regulated by any Environmental Laws, as hereinafter defined); and the proposed location(s) and method(s) of treatment or disposal for each Hazardous Substance, including, the estimated frequency, and the proposed
contractors or subcontractors. Existing tenants should attach a list setting forth the information requested above and such list should include actual data from on-going operations and the identification of any variations in such information from
the prior year’s certificate. 

  

	3.	 STORAGE TANKS AND SUMPS 

 Is any above or below ground storage or treatment of gasoline, diesel, petroleum, or other Hazardous Substances in tanks or sumps proposed in, on or about the Premises? Existing tenants should describe
any such actual or proposed activities. 

Yes   ̈    No   ̈ 

If yes, please explain:             
                                         
                                         
                                         
                                         
                   

                    
                                         
                                         
                                         
                                         
                                         
                 

                    
                                         
                                         
                                         
                                         
                                         
                 
  

	4.	 WASTE MANAGEMENT 

  

	 	4.1	 Has your company been issued (or will your company receive) an EPA Hazardous Waste Generator I.D. Number for the Premises? Existing tenants should
describe any additional identification numbers issued since the previous certificate. 

Yes   ̈    No   ̈ 
  

	 	4.2	 Has your company filed (or will you company file) a biennial or quarterly reports as a hazardous waste generator for the Premises? Existing tenants
should describe any new reports filed. 

Yes   ̈    No   ̈ 
 If yes, attach a copy of the most recent report filed.

  

	5.	 WASTEWATER TREATMENT AND DISCHARGE 

  

	 	5.1	 Will your company discharge wastewater or other wastes at the Premises to: 

             storm
drain?                            
             sewer? 

             surface
water?                                      no wastewater
or other wastes discharged. 
 Existing tenants should indicate any actual discharges. If so, describe the
nature of any 
 proposed or actual discharge(s). 

                   
                                         
                                         
                                         
                                         
                                         
  

                   
                                         
                                         
                                         
                                         
                                         
  

                   
                                         
                                         
                                         
                                         
                                         
  
  

	 	5.2	 Will any such wastewater or waste be treated before discharge? 

Yes   ̈    No   ̈ 
 If yes, describe the type of treatment proposed to be conducted.
Existing tenants should describe the actual treatment conducted. 

                   
                                         
                                         
                                         
                                         
                                         
  

                   
                                         
                                         
                                         
                                         
                                         
  

                   
                                         
                                         
                                         
                                         
                                         
  
  

	6.	 AIR DISCHARGES 

  

	 	6.1	 Do you plan for any air filtration systems or stacks to be used in your company’s operations in, on or about the Premises that will discharge
into the air; and will such air 

  
 Exhibit E

 2 

	 	 
emissions be monitored? Existing tenants should indicate whether or not there are any such air filtration systems or stacks in use in, on or about the Premises which discharge into the air and
whether such air emissions are being monitored. 

 Yes   ̈    No   ̈ 
 If yes, please describe:                           
                                         
                                         
                                         
                            

                   
                                         
                                         
                                         
                                         
                                         
   

                   
                                         
                                         
                                         
                                         
                                         
   
  

	 	6.2	 Do you propose to operate any of the following types of equipment, or any other equipment requiring an air emissions permit, at the Premises?
Existing tenants should specify any such equipment being operated in, on or about the Premises. 

  

					
	              Spray booth(s)
	 		 	             Incinerator(s)
			
	              Dip tank(s)
	 		 	             Other (Please describe)
			
	              Drying oven(s)
	 		 	             No Equipment Requiring Air Permits

If yes, please describe:             
                                         
                                         
                                         
                                         
  

                   
                                         
                                         
                                         
                                         
                                         
  

                   
                                         
                                         
                                         
                                         
                                         
  
  

	 	6.3	 Please describe (and submit copies of with this Hazardous Substances Disclosure Certificate) any reports you have filed in the past thirty-six
months with any governmental or quasi-governmental agencies or authorities related to air discharges or clean air requirements and any such reports which have been issued during such period by any such agencies or authorities with respect to you or
your business operations that will be conducted at the Premises. 

  

	7.	 HAZARDOUS SUBSTANCES DISCLOSURES 

  

	 	7.1	 Has your company prepared or will it be required to prepare a Hazardous Substances management plan (“Management Plan”) or Hazardous
Substances Business Plan and Inventory (“Business Plan”) pursuant to Fire Department or other governmental or regulatory agencies’ requirements for its activities at the Premises? Existing tenants should indicate whether or not
any such Management Plan is required and has been prepared. 

 Yes   ̈    No   ̈ 
 If yes, attach a copy of the Management Plan or Business Plan. Existing tenants should attach a copy of any required updates to the Management Plan or Business Plan. 

 

	 	7.2	 Are any of the Hazardous Substances, and in particular chemicals, proposed to be used in your operations in, on or about the Premises listed or
regulated under Proposition 65? Existing tenants should indicate whether or not there are any new Hazardous Substances being so used which are listed or regulated under Proposition 65. 

Yes   ̈    No   ̈ 

If yes, please explain:             
                                         
                                         
                                         
                                         
    

                   
                                         
                                         
                                         
                                         
                                         
  

                   
                                         
                                         
                                         
                                         
                                         
  
  

	8.	 ENFORCEMENT ACTIONS AND COMPLAINTS 

  

	 	8.1	 With respect to Hazardous Substances or Environmental Laws, has your company ever been subject to any agency enforcement actions, administrative
orders, or consent decrees or has your company received requests for information, notice or demand letters, or any other inquiries regarding its operations? Existing tenants should indicate whether or not any such actions, orders or decrees have
been, or are in the process of being, undertaken or if any such requests have been received. 

Yes   ̈    No   ̈ 

  
 Exhibit E

 3 

 If yes, describe the actions, orders or decrees and any continuing
compliance obligations imposed as a result of these actions, orders or decrees and also describe any requests, notices or demands, and attach a copy of all such documents. Existing tenants should describe and attach a copy of any new actions,
orders, decrees, requests, notices or demands not already delivered to Landlord pursuant to the provisions of Section 25.2 of the Lease Agreement. 
                                  
                                         
                                         
                                         
                                         
                             

                   
                                         
                                         
                                         
                                         
                                         
  

                   
                                         
                                         
                                         
                                         
                                         
  
  

	 	8.2	 Have there ever been, or are there now pending, any lawsuits against your company regarding any environmental or health and safety concerns?

Yes   ̈    No   ̈ 
 If yes, describe any such lawsuits and attach copies of the
complaint(s), cross-complaint(s), pleadings and other documents related thereto as requested by Landlord. Existing tenants should describe and attach a copy of any new complaint(s), cross-complaint(s), pleadings and other related documents not
already delivered to Landlord pursuant to the provisions of Section 25.2 of the Lease Agreement. 

                   
                                         
                                         
                                         
                                         
                                         
  

                   
                                         
                                         
                                         
                                         
                                         
  

                   
                                         
                                         
                                         
                                         
                                         
  
  

	 	8.3	 Have there been any problems or complaints against your company, from adjacent tenants, owners or other neighbors at your company’s current
facility with regard to environmental or health and safety concerns? Existing tenants should indicate whether or not there have been any such problems or complaints from adjacent tenants, owners or other neighbors at, about or near the Premises and
the current status of any such problems or complaints. 

 Yes   ̈    No   ̈ 
 If yes, please describe. Existing tenants should describe any such problems or complaints not already disclosed to Landlord under the provisions of the signed Lease Agreement and the current status of any
such problems or complaints. 

                   
                                         
                                         
                                         
                                         
                                         
  

                   
                                         
                                         
                                         
                                         
                                         
  

                   
                                         
                                         
                                         
                                         
                                         
  
  

	9.	 PERMITS AND LICENSES 

 Attach copies of all permits and licenses issued to your company with respect to its proposed operations in, on or about the Premises, including, without limitation, any Hazardous Substances permits,
wastewater discharge permits, air emissions permits, and use permits or approvals. Existing tenants should attach copies of any new permits and licenses as well as any renewals of permits or licenses previously issued. 

As used herein, “Hazardous Substances” and “Environmental Laws” shall have the meanings given to such
terms in the Lease Agreement. 
 The undersigned hereby acknowledges and agrees that this Hazardous Substances
Disclosure Certificate is being delivered to Landlord in connection with the evaluation of a Lease Agreement and, if such Lease Agreement is executed, will be attached thereto as an exhibit. The undersigned further acknowledges and agrees that if
such Lease Agreement is executed, this Hazardous Substances Disclosure Certificate will be updated from time to time in accordance with Section 25.2 of the Lease Agreement. The undersigned further acknowledges and agrees that the
Landlord and its partners, lenders and representatives may rely upon the statements, representations, warranties, and certifications made herein and the truthfulness thereof in entering into the Lease Agreement and the continuance thereof throughout
the term, and any renewals thereof, of the Lease Agreement. 

  
 Exhibit E

 4 

 Tenant hereby certifies, represents and warrants that the information
contained in this certificate is true and correct. 
 (PROSPECTIVE) TENANT: 

 

			
	 TELENAV,
INC.,
 a Delaware corporation

		
	 By:
	 	  

		
	 Title:
	 	  

  
 Exhibit E

 5 

 EXHIBIT F 

SUNNYVALE BUSINESS CENTER 
 ADDITIONAL PROVISIONS 
 Capitalized terms used in
this Exhibit not otherwise defined herein shall have the meaning given such terms in the Lease to which this Exhibit is attached (the “Lease”). 
 1.          Provisions Required Under Existing Security Agreement.    Notwithstanding any contrary provision of the Lease:

 A.          Permitted Use.  No portion of
the Premises shall be used for any of the following uses: any pornographic or obscene purposes, any commercial sex establishment, any pornographic, obscene, nude or semi-nude performances, modeling, materials, activities, or sexual conduct or any
other use that, as of the time of the execution hereof, has or could reasonably be expected to have a material adverse effect on the Property or its use, operation or value. 

B.          Subordination and Attornment. 

1.          This Lease shall be subject and subordinate to any
Security Agreement (as defined in Article 18 of this Lease) (other than a ground lease) existing as of the date of mutual execution and delivery of this Lease (as the same may be amended, restated, replaced, supplemented or otherwise modified
from time to time, an “Existing Security Agreement”) or any loan document secured by any Existing Security Agreement (an “Existing Loan Document”). In the event of the enforcement by any Security Holder of any
remedy under any Existing Security Agreement or Existing Loan Document, Tenant shall, at the option of the Security Holder or of any other person or entity succeeding to the interest of the Security Holder as a result of such enforcement, attorn to
the Security Holder or to such person or entity and shall recognize the Security Holder or such successor in the interest as lessor under this Lease without change in the provisions thereof; provided, however, the Security Holder or such successor
in interest shall not be liable for or bound by (i) any payment of an installment of rent or additional rent which may have been made more than thirty (30) days before the due date of such installment, (ii) any act or omission of or
default by Landlord under this Lease (but the Security Holder, or such successor, shall be subject to the continuing obligations of Landlord to the extent arising from and after such succession to the extent of the Security Holder’s, or such
successor’s, interest in the Property), (iii) any credits, claims, setoffs or defenses which Tenant may have against Landlord, or (iv) any obligation under this Lease to maintain a fitness facility at the Property. Tenant, upon the
reasonable request by the Security Holder or such successor in interest, shall execute and deliver an instrument or instruments confirming such attornment. Notwithstanding the foregoing, in the event the Security Holder shall have entered into a
separate subordination, attornment and non-disturbance agreement directly with Tenant governing Tenant’s obligation to attorn to the Security Holder or such successor in interest as lessor, the terms and provisions of such agreement shall
supersede the provisions of this Subsection. 

2.          Notwithstanding any contrary provision of the Lease, this
Lease is conditioned upon Tenant and the Security Holder under any Existing Security Agreement or Existing Loan Document entering into a non-disturbance, subordination and attornment agreement in substantially the form attached to the Lease as
Exhibit G (“Initial SNDA”) concurrently with the mutual execution and delivery of this Lease, and the parties acknowledge that Subsection (1) of this Section 1.B shall not apply and the terms and
provisions of such Initial SNDA shall supersede the provisions of that Subsection. In addition, in the event of any conflict between the provisions of the Initial SNDA and the provisions of Section 1.C below, as between the Tenant and
the Security Holder who is a party to the SNDA, the provisions of the Initial SNDA shall control. 

C.          Proceeds. 

1.          As used herein, “Proceeds” means any
compensation, awards, proceeds, damages, claims, insurance recoveries, causes or rights of action (whenever accrued) or payments which Landlord may receive or to which Landlord may become entitled with respect to the Property or any part thereof
(other than payments received in connection with any liability or loss of rental value or business interruption insurance) in connection with any Taking of, or any casualty or other damage or injury to, the Property or any part thereof. 

2.          Nothing in this Lease shall be deemed to entitle Tenant to
receive and retain Proceeds except those that may be specifically awarded to it in condemnation proceedings because of the Taking of its trade fixtures and its leasehold improvements which have not become part of the Property and such business loss
as Tenant may specifically and separately establish. Nothing in the preceding sentence shall be deemed to expand any right Tenant may have under this Lease to receive or retain any Proceeds. 

  
 Exhibit F

 1 

 3.          Nothing in
this Lease shall be deemed to prevent Proceeds from being held and disbursed by any Security Holder under any Existing Loan Documents in accordance with the terms of such Existing Loan Documents. However, if, in the event of any casualty or partial
Taking, any obligation of Landlord under this Lease to restore the Premises or the Building is materially diminished by the operation of the preceding sentence, then Landlord, as soon as reasonably practicable after the occurrence of such casualty
or partial Taking, shall provide written notice to Tenant describing such diminution with reasonably specificity, whereupon, unless Landlord has agreed in writing, in its sole and absolute discretion, to waive such diminution, Tenant, by written
notice to Landlord delivered within 10 days after receipt of Landlord’s notice, shall have the right to terminate this Lease effective 10 days after the date of such termination notice. 

2.          Letter of Credit. 

A.          General Provisions.  If Tenant does not
deliver to Landlord a cash Security Deposit with Tenant’s execution of this Lease, then concurrently with Tenant’s execution of this Lease, Tenant shall deliver to Landlord, as collateral for the full performance by Tenant of all of its
obligations under this Lease and for all losses and damages Landlord may suffer as a result of Tenant’s failure to comply with one or more provisions of this Lease, including any damages arising under California Civil Code § 1951.2
following termination of this Lease, a letter of credit (the “Letter of Credit”) in the form of Exhibit F-1, in the face amount of $306,265.75 (the “Letter of Credit Amount”), naming Landlord as
beneficiary, issued (or confirmed) by a financial institution acceptable to Landlord in Landlord’s reasonable discretion, permitting multiple and partial draws thereon, and otherwise in form acceptable to Landlord in its reasonable discretion.
Tenant shall cause the Letter of Credit to be continuously maintained in effect (whether through replacement, renewal or extension) in the Letter of Credit Amount through the date (the “Final LC Expiration Date”) that is
90 days after the scheduled expiration date of the Term, as it may be extended from time to time or in lieu thereof, shall deliver to Landlord a cash Security Deposit as provided in Section 2.G below If the Letter of Credit held by
Landlord expires before the Final LC Expiration Date (whether by reason of a stated expiration date or a notice of termination or non-renewal given by the issuing bank), Tenant shall deliver a new Letter of Credit or certificate of renewal or
extension (or a cash Security Deposit in lieu thereof) to Landlord not later than 60 days before the expiration date of the Letter of Credit then held by Landlord. In addition, if, at any time before the Final LC Expiration Date, the financial
institution that issued (or confirmed) the Letter of Credit held by Landlord is not one of the ten largest nationally chartered United States banking institutions in terms of total assets and such issuer fails to meet the Minimum Financial
Requirement (defined below), then, within five (5) business days after Landlord’s demand, Tenant shall deliver to Landlord, in replacement of such Letter of Credit, either a cash Security Deposit or a new Letter of Credit issued (or
confirmed) by a financial institution that meets the Minimum Financial Requirement and is otherwise acceptable to Landlord in Landlord’s reasonable discretion, whereupon Landlord shall return to Tenant the Letter of Credit that is being
replaced. For purposes hereof, a financial institution shall be deemed to meet the “Minimum Financial Requirement” on a particular date if and only if, as of such date, such financial institution (i) has not been placed into
receivership by the FDIC; and (ii) has a financial strength that, in Landlord’s good faith judgment, is not less than that which is then generally required by Landlord and its affiliates as a condition to accepting letters of credit in
support of new leases. Any new Letter of Credit or certificate of renewal or extension (a “Renewal or Replacement LC”) shall comply with all of the provisions of this Section 2, shall be irrevocable, transferable
and shall remain in effect (or be automatically renewable) through the Final LC Expiration Date upon the same terms as the Letter of Credit that is expiring or being replaced. 

B.          Drawings under Letter of Credit.  Upon a
Default by Tenant (i.e., after any required Notice and cure period described in Section 19.1 of the Lease) or, if Landlord is prohibited by Law from providing Notice to Tenant of Tenant’s failure to comply with one or more
provisions of this Lease, then upon any such failure by Tenant and lapse of the specified cure period without the necessity of providing Notice to Tenant, or as otherwise specifically agreed by Landlord and Tenant pursuant to this Lease or any
amendment hereof, Landlord may, without prejudice to any other remedy provided in this Lease or by Law, draw on the Letter of Credit such sums as are required for the purposes described in Section 2.C below. In addition, if Tenant fails
to furnish a Renewal or Replacement LC (or a cash Security Deposit) complying with all of the provisions of this Section 2 when required under this Section 2, Landlord may draw upon the Letter of Credit and hold the proceeds
thereof (and such proceeds need not be segregated) in accordance with the terms of this Section 2 (the “LC Proceeds Account”). 
 C.           Use of Proceeds by Landlord.  The proceeds of the Letter of Credit applied by Landlord to the purposes set forth in this
sentence shall constitute Landlord’s sole and separate property (and not Tenant’s property or the property of Tenant’s bankruptcy estate) and Landlord may, immediately upon any draw (and without notice to Tenant), apply or offset the
proceeds of the Letter of Credit against (a) any Rent payable by Tenant under this Lease that is not paid when due; (b) all losses and damages of Landlord as a result of Tenant’s failure to comply with one or more provisions of this
Lease, including any damages arising under California Civil Code § 1951.2 following termination of this Lease; (c) any costs incurred by Landlord in connection with this Lease (including attorneys’ fees) that Tenant is

  
 Exhibit F

 2 

 
obligated to pay or reimburse; and (d) any other reasonable and legally recoverable amount that Landlord may spend or become obligated to spend by reason of Tenant’s failure to comply
with this Lease and that Tenant is obligated to pay or reimburse under this Lease or under applicable Laws. Notwithstanding the foregoing, if the proceeds of the Letter of Credit exceed the amount applied or offset by Landlord pursuant to clauses
(a) through (d) above, then such excess amount shall be held by Landlord as a cash Security Deposit in accordance with Article 22 of the Lease. Provided that Tenant has performed all of its obligations under this Lease, Landlord
shall pay to Tenant, within 45 days after the Final LC Expiration Date, the amount of any proceeds of the Letter of Credit received by Landlord and not applied as provided above; provided, however, that if, before the expiration of such 45-day
period, a voluntary petition is filed by Tenant or any Guarantor, or an involuntary petition is filed against Tenant or any Guarantor by any of Tenant’s or Guarantor’s creditors, under the Federal Bankruptcy Code, then such payment shall
not be required until either all preference issues relating to payments under this Lease have been resolved in such bankruptcy or reorganization case or such bankruptcy or reorganization case has been dismissed, in each case pursuant to a final
court order not subject to appeal or any stay pending appeal. 

D.          Additional Covenants of Tenant.  If, for
any reason, (i) the amount of the Letter of Credit becomes less than the Letter of Credit Amount, or (ii) Landlord requests in writing that the Letter of Credit Amount increase due to an increase in the square footage of the Premises as
set forth in an amendment to the Lease, Tenant shall, within five (5) days thereafter with respect to clause (i) immediately above, or thirty (30) days thereafter with respect to clause (ii) immediately above, either provide
Landlord with a cash Security Deposit equal to such difference, or provide Landlord with additional letter(s) of credit in an amount equal to the deficiency (or a replacement letter of credit in the total Letter of Credit Amount), and any such
additional (or replacement) letter of credit shall comply with all of the provisions of this Section 2, and if Tenant fails to comply with the foregoing, notwithstanding any contrary provision of this Lease, such failure shall constitute
a Default by Tenant with no further opportunity to cure. Tenant further covenants and warrants that it will neither assign nor encumber the Letter of Credit or any part thereof and that neither Landlord nor its successors or assigns will be bound by
any such assignment, encumbrance, attempted assignment or attempted encumbrance. The use, application or retention of the Letter of Credit, or any portion thereof, by Landlord shall not prevent Landlord from exercising any other right or remedy
provided by this Lease or by any applicable law, it being intended that Landlord shall not first be required to proceed against the Letter of Credit, and shall not operate as a limitation on any recovery to which Landlord may otherwise be entitled.
Tenant agrees not to interfere in any way with payment to Landlord of the proceeds of the Letter of Credit in accordance with the terms of this Section, either prior to or following a “draw” by Landlord of any portion of the Letter of
Credit, regardless of whether any dispute exists between Tenant and Landlord as to Landlord’s right to draw upon the Letter of Credit, provided that nothing herein shall affect Tenant’s rights and remedies after the Letter of Credit is
drawn if Tenant disputes Landlord’s right to draw on the Letter of Credit or to apply any portion of the proceeds thereof. No condition or term of this Lease shall be deemed to render the Letter of Credit conditional to justify the issuer of
the Letter of Credit in failing to honor a drawing upon such Letter of Credit in a timely manner. Tenant agrees and acknowledges that (i) the Letter of Credit constitutes a separate and independent contract between Landlord and the Bank,
(ii) Tenant is not a third party beneficiary of such contract, (iii) Tenant has no property interest whatsoever in the Letter of Credit or the proceeds thereof, and (iv) in the event Tenant becomes a debtor under any chapter of the
Bankruptcy Code, neither Tenant, any trustee, nor Tenant’s bankruptcy estate shall have any right to restrict or limit Landlord’s claim and/or rights to the Letter of Credit and/or the proceeds thereof under the provisions of this Lease by
application of Section 502(b)(6) of the U. S. Bankruptcy Code or otherwise; provided, however, that the foregoing shall not limit any claims that Tenant may have with respect to any promises between the Tenant and the issuer of the Letter of
Credit, or any collateral therefor. 
 E.          Nature
of Letter of Credit.  Except as expressly provided in Section 2.C above, Landlord and Tenant (a) acknowledge and agree that in no event shall the Letter of Credit or any renewal thereof, any substitute therefor or any
proceeds thereof (including the LC Proceeds Account) be deemed to be or treated as a “security deposit” under California Civil Code § 1950.7, as it may be amended or succeeded, or any other Law applicable to security deposits in
the commercial context (“Security Deposit Laws”); (b) acknowledge and agree that the Letter of Credit (including any renewal thereof, any substitute therefor or any proceeds thereof) is not intended to serve as a security
deposit and shall not be subject to the Security Deposit Laws; and (c) waive any and all rights, duties and obligations either party may now or, in the future, will have relating to or arising from the Security Deposit Laws; provided, however,
that the foregoing waiver shall not waive any terms and conditions of this Section 2. Tenant hereby waives the provisions of California Civil Code § 1950.7 and all other provisions of Law, now or hereafter in effect, which
(i) establish the time frame by which Landlord must refund a security deposit under a lease, and/or (ii) provide that Landlord may claim from the security deposit only those sums reasonably necessary to remedy defaults in the payment of
rent, to repair damage caused by Tenant or to clean the Premises, it being agreed that Landlord may, in addition, claim those sums specified above in this Section 2 and/or those sums reasonably necessary to compensate Landlord for any
legally recoverable loss or damage 

  
 Exhibit F

 3 

 
caused by Tenant’s breach of this Lease, including any legally recoverable damages Landlord suffers following termination of this Lease. 

F.          Transfer of Letter of Credit.  The Letter
of Credit shall provide that Landlord, its successors and assigns, may, at any time with notice to Tenant but without first obtaining Tenant’s consent thereto, transfer (one or more times) all or any portion of its interest in and to the Letter
of Credit to another party, person or entity, but only as a part of any assignment by Landlord of its rights and interests in and to this Lease or in connection with Landlord’s financing of the Property. In the event of a transfer of
Landlord’s interest in the Building, Landlord shall transfer the Letter of Credit, in whole or in part, to the transferee, notify Tenant of such transfer and the name, address and phone number of the transferee, and upon assumption by the
transferee of Landlord’s obligations hereunder with respect to the Letter of Credit, Landlord shall, without any further agreement between the parties, be released by Tenant from all liability therefor arising after such transfer, and it is
agreed that the provisions hereof shall apply to every transfer or assignment of the whole or any portion of said Letter of Credit to a new landlord. Landlord shall remain liable to Tenant, however, for the refund of any prior withdrawals from the
Letter of Credit as and to the extent such refund is required under this Lease or applicable Law, but only to the extent that such refundable amount has not been transferred to the Landlord’s successor in interest. In connection with any such
transfer of the Letter of Credit by Landlord, Tenant shall, at Tenant’s sole cost and expense, execute and submit to the issuing or confirming financial institution such applications, documents and instruments as may be necessary to effectuate
such transfer, and Tenant shall be responsible for paying such financial institution’s transfer and processing fees in connection therewith; provided, however, that if Landlord’s transfers the Letter of Credit more than one (1) time
in any twelve (12) month period, Landlord shall pay the financial institution’s transfer and processing fees in connection with the second and any subsequent transfer during such twelve (12) month period. 

G.          Replacement of the Letter of Credit with a Cash Security
Deposit.  Notwithstanding any of the foregoing to the contrary, Landlord shall return the Letter of Credit within 10 business days (“Letter of Credit Termination Date”) after receipt by Landlord of written notice
(“Security Deposit Election Notice”) from Tenant electing to provide a cash Security Deposit in the amount of the required Letter of Credit Amount in lieu of the Letter of Credit, together with the required Letter of Credit Amount
in lawful money of the United States; provided that Tenant is neither in Default upon Landlord’s receipt of the Security Deposit Election Notice or upon the Letter of Credit Termination Date. 

  
 Exhibit F

 4 

 EXHIBIT F-1 

SUNNYVALE BUSINESS CENTER 
 FORM OF LETTER OF CREDIT 
 Wells Fargo Bank, N.A. 

U. S. TRADE SERVICES – Standby Letters of Credit MAC A0195-212 

One Front Street,
21st Floor 

San Francisco, CA. 94111 

Phone: 1(800) 798-2815 Option 1E-Mail: sftrade@wellsfargo.com 
  

 
 IRREVOCABLE STANDBY LETTER
OF CREDIT 
 NUMBER
                             

Issue
Date:                             

 

			
	 BENEFICIARY:
	  	APPLICANT:     
		
	 CA-SUNNYVALE BUSINESS
	  	Applicant Name 
	 CENTER LIMITED PARTNERSHIP
	  	Address             
	 c/o Equity Office
	  	City, State Zip    
	 2655 Campus Drive, Suite 100
	  	
	 San Mateo, CA 94403
	  	
	 Attention:   Managing Counsel
	  	
		
	 With a copy to:
	  	
		
	 Equity Office
	  	
	 2 North Riverside Plaza, Suite 2100
	  	
	 Chicago, Illinois 60606
	  	
	 Attention:   Treasury Department
	  	
		
	 LETTER OF CREDIT ISSUE AMOUNT $306,265.75
	  	EXPIRY DATE:
                                         
   

 Ladies and Gentlemen: 
 At the request and for the account of the above referenced applicant, we hereby issue our Irrevocable Standby Letter of Credit (the “Wells Credit”) in your favor in the amount of [Insert Amount in
Words] [US$ Insert Amount in Numbers] available with us at our above office by payment against presentation of the following documents: 
 1. A draft drawn on us at sight marked “Drawn under Wells Fargo Bank, N.A. Standby Letter of Credit No.
                .” 
 2. The original of this
Standby Letter of Credit and any amendments thereto. 
 3. Beneficiary’s signed and dated statement worded as follows (with the
instructions in brackets therein complied with): 
 The undersigned, an authorized representative of the beneficiary of Wells Fargo Bank
Letter of Credit No.                 certifies that the amount of the draft accompanying this statement represents (A) the amount due to Beneficiary pursuant
to and in connection with that certain Lease dated [insert date] between Applicant Name and Beneficiary Name (as such lease may be amended, restated or replaced), or (B) the amount permitted to be drawn by Beneficiary
pursuant to and in connection with such Lease because Applicant has not delivered to Beneficiary a new Letter of Credit or Certificate of Renewal or Extension within the applicable time period required thereunder”. 

Partial and multiple drawings are allowed. In the event of partial drawings, Wells Fargo Bank, N.A. shall endorse the original of this Letter of
Credit and return it to the beneficiary. 
 If any instructions accompanying a drawing under this Letter of Credit request that payment is
to be made by transfer to an account with us or at another bank, we and/or such other bank may rely on an account number specified in such instructions as that of the beneficiary’s without any further validation. 

This Letter of Credit is transferable one or more times, but in each instance only to a single transferee and only in the full amount available to
be drawn under the Letter of Credit at the time of such transfer. Any such transfer may be effected only through Wells Fargo Bank, N.A. and only upon presentation to us at our presentation office specified herein of a duly executed transfer request
in the form attached hereto as Exhibit A, with instructions therein in brackets complied with, together with the original of this Letter of Credit and any amendments thereto and payment of our transfer fee of
                        % of the transfer amount under this Letter of Credit; provided, however, that, the transfer fee
payable in connection with the first such transfer by Beneficiary in any twelve (12) month period shall be paid by Applicant. Each transfer shall be evidenced by our endorsement on the reverse of the original of this Letter of Credit, and we
shall deliver such original to the transferee. The transferee’s name shall automatically be substituted for that of the beneficiary wherever such beneficiary’s name appears within this Standby Letter of Credit. All charges in connection
with any transfer of this Letter of Credit are for the Applicant’s account. 

  
 Exhibit F-1

 1 

 We are subject to various laws, regulations and executive and judicial orders (including economic
sanctions, embargoes, anti-boycott, anti-money laundering, anti-terrorism, and anti-drug trafficking laws and regulations) of the U.S. and other countries that are enforceable under applicable law. We will not be liable for our failure to make, or
our delay in making, payment under this Letter of Credit or for any other action we take or do not take, or any disclosure we make, under or in connection with this Letter of Credit [(including, without limitation, any refusal to transfer this
Letter of Credit)] that is required by such laws, regulations, or orders. 
 We hereby engage with you that each
draft drawn under and in compliance with the terms and conditions of this Letter of Credit will be duly honored if presented together with the documents specified in this Letter of Credit at our office located at One front Street, 21st Floor MAC A0195-212, San Francisco, CA. 94111, Attention: US Trade Services-Standby
Letters of Credit on or before the above stated expiry date, or any extended expiry date if applicable. 
 This Irrevocable Standby Letter
of Credit sets forth in full the terms of our undertaking. This undertaking is independent of and shall not in any way be modified, amended, amplified or incorporated by reference to any document, contract or agreement referenced herein other than
the stipulated ICC rules and governing laws. 
 Except as otherwise expressly stated herein, this Standby Letter of Credit is subject to
The Uniform Customs and Practice For Documentary Credits, (2007 Revision) The International Chamber of Commerce Publication No. 600. 

Very truly yours 
 WELLS FARGO BANK, N.A.

  

					
	 BY:
	 		 	  

		 		 	  (AUTHORIZED SIGNATURE)

 The original of this Letter of Credit contains an embossed seal over the Authorized Signature. 

Please direct any written correspondence or inquires regarding this Letter of Credit, always quoting our reference number to
Wells Fargo Bank, N.A., Attn: One front Street, 21st Floor MAC A0195 - 212,
San Francisco, CA. 94111, Attention: US Trade Services - Standby Letters of Credit (Hours of operation: 8:00am PST to 5:30pm PST) 
 All
phone inquiries regarding this credit should be directed to our Standby Customer Connection Professionals at 1-800-798-2815, Option 1. 

  
 Exhibit F-1

 2 

 EXHIBIT “A” 
 DATE: 
 TO:        [INSERT BANK ADDRESS] 

 
  

 

									
	 ATTN:
	  	  
	  		  	
	 RE:
	  	 BANK IRREVOCABLE STANDBY LETTER OF CREDIT

		  	 NO.
	  		  		  	

 GENTLEMEN: 
 FOR VALUE RECEIVED, THE UNDERSIGNED BENEFICIARY HEREBY IRREVOCABLY TRANSFERS TO: 
  

 
 (NAME OF TRANSFEREE) 

 
 (ADDRESS) 

ALL RIGHTS OF THE UNDERSIGNED BENEFICIARY TO DRAW UNDER THE ABOVE LETTER OF CREDIT UP TO ITS AVAILABLE AMOUNT AS SHOWN ABOVE AS OF THE DATE OF THIS
TRANSFER. 
 BY THIS TRANSFER, ALL RIGHTS OF THE UNDERSIGNED BENEFICIARY IN SUCH LETTER OF CREDIT ARE TRANSFERRED TO THE TRANSFEREE.
TRANSFEREE SHALL HAVE THE SOLE RIGHTS AS BENEFICIARY THEREOF, INCLUDING SOLE RIGHTS RELATING TO ANY AMENDMENTS, WHETHER INCREASES OR EXTENSIONS OR OTHER AMENDMENTS, AND WHETHER NOW EXISTING OR HEREAFTER MADE. ALL AMENDMENTS ARE TO BE ADVISED DIRECT
TO THE TRANSFEREE WITHOUT NECESSITY OF ANY CONSENT OF OR NOTICE TO THE UNDERSIGNED BENEFICIARY. 
 THE ORIGINAL OF SUCH LETTER OF CREDIT
IS RETURNED HEREWITH, AND WE ASK YOU TO ENDORSE THE TRANSFER ON THE REVERSE THEREOF, AND FORWARD IT DIRECTLY TO THE TRANSFEREE WITH YOUR CUSTOMARY NOTICE OF TRANSFER. 
  

	
	 SINCERELY,

	
	  

	(BENEFICIARY’S NAME)
	  

	SIGNATURE OF BENEFICIARY

  
 Exhibit F-1

 3 

 EXHIBIT G 

SUNNYVALE BUSINESS CENTER 
 FORM OF SNDA 
 See Attached 

  
 Exhibit G

 1 

 RECORDING REQUESTED BY 
 AND WHEN RECORDED MAIL TO: 
 TeleNav, Inc. 

1130 Kifer Rd. 
 Sunnyvale, CA 94086 

Attn: General Counsel 
  

 
 (Space Above For Recorder’s
Use) 
 Documentary Transfer Tax: None 

APN: 205-22-022 
 SUBORDINATION,

 NON-DISTURBANCE AND ATTORNMENT AGREEMENT 

THIS AGREEMENT made as of this      day of July, 2011, between the Lender (defined below) and
TeleNav, Inc., a Delaware corporation, having an address at 1130 Kifer Rd., Sunnyvale, CA 94086, Attn: General Counsel (hereinafter called “Tenant”). 
 RECITALS: 
 WHEREAS, by a Lease Agreement dated as of
June 28, 2011 (the “Lease”), between CA-Sunnyvale Business Center Limited Partnership, a Delaware limited partnership (hereinafter called “Landlord”), as landlord, and Tenant, as tenant, Landlord leased to
Tenant certain premises located at 920 DeGuigne Drive, 930 DeGuigne Drive, and 950 DeGuigne Drive, Sunnyvale, California (the “Premises”) on the property known as “Sunnyvale Business Center,” and described in Schedule
“A”, annexed hereto and made a part hereof (the “Property”): and 
 WHEREAS, Goldman
Sachs Commercial Mortgage Capital, L.P., Bank of America, N.A., Bear Stearns Commercial Mortgage Inc., German American Capital Corporation, Morgan Stanley Mortgage Capital Inc., Column Financial, Inc., Citigroup Global Markets Realty Corp., and
Wachovia Bank, National Association (collectively, as original lender and predecessor-in-interest to Lender, “Original Lender”), has made a loan to Landlord, which loan is secured by, among other things, a mortgage or deed of trust
encumbering the Property (which mortgage or deed of trust, and all amendments, renewals, increases, modifications, replacements, substitutions, extensions, spreaders and consolidations thereof and all re-advances thereunder and additions thereto, is
referred to as the “Security Instrument”): and 
 WHEREAS, Original Lender assigned all of its
right, title and interest in and to the Security Instrument to Wells Fargo Bank, N.A., as Trustee for the Registered Holders of GS Mortgage Securities Corporation II, Commercial Mortgage Pass-Through Certificates, Series 2007-EOP (together with its
successors and assigns, “Lender”); and 
 WHEREAS, Lender and Tenant desire to confirm their
understanding and agreement with respect to the Lease and the Security Instrument. 
 NOW, THEREFORE, in
consideration of the mutual covenants and agreements herein contained, Lender and Tenant hereby agree and covenant as follows: 
 1. The Lease, and all of the terms, covenants, provisions and conditions thereof (including, without limitation, any right of first refusal, right of first offer, option or any similar right with respect
to the sale or purchase of the Property, or any portion thereof) is, shall be, and shall at all times remain and continue to be, subject and subordinate in all respects to the lien, terms, covenants, provisions and conditions of the Security
Instrument and to all advances and re-advances made thereunder and all sums secured thereby, subject to the terms of this Agreement. This provision shall be self-operative, but Tenant shall execute and deliver any additional instruments which Lender
may reasonably require to effect such subordination in accordance with this Agreement. 

  
 1 

 2. So long as (i) Tenant is not in default (beyond any period given in
the Lease to Tenant to cure such default) in the payment of rent, percentage rent or additional rent or in the performance or observance of any of the other terms, covenants, provisions or conditions of the Lease on Tenant’s part to be
performed or observed, and (ii) the Lease is in full force and effect: (a) Tenant’s possession of the Premises and Tenant’s rights and privileges under the Lease, or any extensions or renewals thereof which may be effected in
accordance with any option therefor which is contained in the Lease, shall not be diminished or interfered with by Lender, and Tenant’s occupancy of the Premises shall not be disturbed by Lender for any reason whatsoever during the term of the
Lease or any such extensions or renewals thereof, and (b) Lender will not join Tenant as a party defendant in any action or proceeding to foreclose the Security Instrument or to enforce any rights or remedies of Lender under the Security
Instrument which would cut off, destroy, terminate or extinguish the Lease or Tenant’s interest and estate under the Lease. Notwithstanding the foregoing provisions of this paragraph, if it would be procedurally disadvantageous for Lender not
to name or join Tenant, Lender may so name or join Tenant, so long as no action is brought against Tenant to cut off, destroy, terminate or extinguish the Lease or Tenant’s interest and estate under the Lease, or to otherwise diminish or
adversely affect the rights and privileges granted to, or inuring to the benefit of, Tenant under this Agreement. 
 3. (A) After notice is given by Lender that the Security Instrument is in default and that the rentals under the Lease should be paid to Lender, Tenant will attorn to Lender and pay to Lender, or pay in
accordance with the directions of Lender, all rentals and other monies due and to become due to Landlord under the Lease or otherwise in respect of the Premises. 

(B) In addition, if Lender (or its nominee or designee) shall succeed to the rights of Landlord under the Lease through
possession or foreclosure action, delivery of a deed, or otherwise, or another person purchases the Property or the portion thereof containing the Premises upon or following foreclosure of the Security Instrument or in connection with any bankruptcy
case commenced by or against Landlord (Lender, its nominees and designees, and such purchaser, and their respective successors and assigns, each being a “Successor-Landlord”), Tenant shall attorn to and recognize Successor-Landlord
as Tenant’s landlord under the Lease, and shall promptly execute and deliver any instrument that Successor-Landlord may reasonably request to evidence such attornment. Upon such attornment, the Lease shall continue in full force and effect as,
or as if it were, a direct lease between Successor-Landlord and Tenant upon all terms, conditions and covenants as are set forth in the Lease. If the Lease shall have terminated by operation of law or otherwise as a result of or in connection with a
bankruptcy case commenced by or against Landlord or a foreclosure action or proceeding or delivery of a deed in lieu, upon request of Successor-Landlord or Tenant, Tenant and Successor-Landlord shall promptly execute and deliver a direct lease
between Tenant and Successor-Landlord, which direct lease shall be on the same terms and conditions as the Lease (subject, however, to the provisions of clauses (i)-(v) of this paragraph 3(B)), and shall be effective as of the day the Lease
shall have terminated as aforesaid. Notwithstanding the continuation of the Lease, the attornment of Tenant thereunder, the recognition of the Lease by the Successor-Landlord, or the execution of a direct lease between Successor-Landlord and Tenant
as aforesaid, Successor-Landlord shall not: 
 (i) be liable for any previous act or omission of Landlord under
the Lease; 
 (ii) be subject to any off-set, defense or counterclaim which shall have theretofore accrued to
Tenant against the prior Landlord except as expressly permitted in Section 3(B)(v) hereof and except to the extent that (a) such offset or defense arises from a default by Landlord which continues after the date that the Successor-Landlord
succeeds to Landlord’s interest in the Property and Lender has been provided with notice of such Landlord default and an opportunity to cure same pursuant to the requirements of Section 5 hereof, and (b) such Landlord default under
the Lease giving rise to the offset or defense is of a nature that the Successor Landlord can cure by performing a service or making a repair (it being acknowledged that, notwithstanding the foregoing, under no circumstances shall Lender or
Successor-Landlord have any obligations or liability for monetary damages accruing for defaults by Landlord prior to such succession and Lender and Successor Landlord shall not have any obligation to perform Landlord’s obligations with respect
to the construction of, or payment for, the leasehold improvements on or above the Premises, tenant work letters and/or similar items). In addition, the parties acknowledge and agree that Successor Landlord shall not be subject to offsets of Tenant
against Landlord for any unpaid tenant allowance monies due from Landlord under the Lease, except as expressly provided in Section 3(B)(v) hereof, it being understood that nothing in this Section 3(B)(ii) shall limit or nullify the
provisions of Section 3(B)(v); 

  
 2 

 (iii) be bound by any modification of the Lease, or by any previous
prepayment of rent or additional rent made more than one (1) month prior to the date same was due which Tenant might have paid to Landlord, unless such modification or prepayment shall have been expressly approved in writing by Lender;

 (iv) be liable for any security deposited under the Lease unless such security has been physically delivered
to Lender or Successor-Landlord; and 
 (v) be liable or obligated to comply with or fulfill any of the
obligations of Landlord under the Lease or any agreement relating thereto with respect to the construction of, or payment for, improvements on or above the Premises (or any portion thereof), leasehold improvements, tenant work letters and/or similar
items. Notwithstanding anything to the contrary contained in this Agreement, subject to the terms of this subparagraph 3(B)(v), Successor-Landlord shall be subject to Tenant’s right of setoff and deductions from rent as expressly provided in
Section 6.7 of Exhibit B to the Lease as a result of Landlord’s failure to pay the Allowance (as defined in the Lease) in accordance with the terms of the Lease (as to Landlord’s failure to pay the Allowance, the
“Tenant’s Right of Setoff for Unpaid Allowance”); provided, however, that Tenant’s Right of Setoff for Unpaid Allowance shall be effective against Successor-Landlord only if Tenant provides Lender with written notice of
default and opportunity to cure pursuant to the requirements of Section 5 of this Agreement with respect to any failure by Landlord to pay the Allowance and additionally provided that Tenant delivers to Lender a written estoppel certificate
signed by Tenant which is delivered to Lender (i) on or before November 1, 2011 (the “First Estoppel”), and (ii) on or before January 1, 2012 (the “Second Estoppel”). Each of the First Estoppel and the
Second Estoppel shall consist of Tenant’s written confirmation, as of the date of such estoppel certificate, (i) whether Landlord is then in default in payment of the Allowance under the terms of the Lease, (ii) the amount of the
Allowance that has been properly funded in accordance with the terms of the Lease, and (iii) the amount of the Allowance that is remaining to be funded (each, an “Estoppel” and collectively, the “Estoppels”).
Tenant shall be deemed to have waived the Tenant’s Right of Setoff for Unpaid Allowance with respect to any portion of the Allowance that the Estoppel confirms has been funded under the Lease. Tenant’s failure to deliver either of the
Estoppels or written notice of Landlord’s default in payment of the Allowance in accordance with Section 5 of this Agreement shall result in Lender’s and/or Successor-Landlord’s not being subject to the Tenant’s Right of
Setoff for Unpaid Allowance. 
 4. INTENTIONALLY DELETED. 

5. (A) Tenant shall promptly send Lender copies of any written notices of default delivered by Tenant to Landlord under
the Lease. 
 (B) In the event of a default by Landlord under the Lease which would give Tenant the right,
immediately or after the lapse of a period of time, to cancel or terminate the Lease or to claim a partial or total eviction, or in the event of any other act or omission of Landlord which would give Tenant the right to cancel or terminate the
Lease, Tenant shall not exercise such right (i) until Tenant has given written notice of such default, act or omission to Lender, and (ii) unless Lender has failed, within forty-five (45) days after Lender receives such notice, to
cure or remedy the default, act or omission or, if such default, act or omission shall be one which is not reasonably capable of being remedied by Lender within such forty-five (45) day period, until a reasonable period for remedying such
default, act or omission shall have elapsed following the giving of such notice and following the time when Lender shall have become entitled under the Security Instrument to remedy the same (which reasonable period shall in no event be less than
the period to which Landlord would be entitled under the Lease or otherwise, after similar notice, to effect such remedy, and in no event longer than one hundred twenty (120) days from the date when Lender receives Tenant’s written notice
of Landlord’s default), provided that Lender shall with due diligence give Tenant written notice of its intention to, and shall thereafter diligently commence and continue to, remedy such default, act or omission. If Lender cannot reasonably
remedy a default, act or omission of Landlord until after Lender obtains possession of the Premises, Tenant may not terminate or cancel the Lease or claim a partial or total eviction by reason of such default, act or omission until the expiration of
a reasonable period necessary for the remedy; provided, however, that if entry onto the Premises is required to cure such default, such reasonable period will include such time as is reasonably necessary for Lender to gain such entry, using due
diligence. To the extent Lender incurs any expenses or other costs in curing or remedying such default, act or omission, including, without limitation, attorneys’ fees and disbursements, Lender shall be subrogated to Tenant’s rights
against Landlord. 
 (C) Notwithstanding the foregoing, Lender shall have no obligation hereunder to remedy
such default, act or omission. 

  
 3 

 6. To the extent that the Lease shall entitle Tenant to notice of the
existence of any mortgage and the identity of any mortgagee or any ground lessor, this Agreement shall constitute such notice to Tenant with respect to the Security Instrument and Lender. 

7. Upon and after the occurrence of a default under the Security Instrument, which is not cured after any applicable
notice and/or cure periods, upon delivery of written notice to Tenant, Lender shall be entitled, but not obligated, to exercise the claims, rights, powers, privileges and remedies of Landlord under the Lease, and shall be further entitled to the
benefits of, and to receive and enforce performance of, all of the covenants to be performed by Tenant under the Lease as though Lender were named therein as Landlord. 

8. Anything herein or in the Lease to the contrary notwithstanding, in the event that a Successor-Landlord shall acquire
title to the Property or the portion thereof containing the Premises, Successor-Landlord shall have no obligation, nor incur any liability, beyond Successor-Landlord’s then interest, if any, in the Property (or the proceeds thereof), and Tenant
shall look exclusively to such interest, if any, of Successor-Landlord in the Property (or the proceeds thereof) for the payment and discharge of any obligations imposed upon Successor-Landlord hereunder or under the Lease, and Successor-Landlord is
hereby released or relieved of any other liability hereunder and under the Lease. Tenant agrees that, with respect to any money judgment which may be obtained or secured by Tenant against Successor-Landlord, Tenant shall look solely to the estate or
interest owned by Successor-Landlord in the Property (and the proceeds thereof), and Tenant will not collect or attempt to collect any such judgment out of any other assets of Successor-Landlord. 

9. Notwithstanding anything to the contrary in the Lease, Tenant agrees for the benefit of Landlord and Lender that,
except as permitted by, and fully in accordance with, applicable law and/or the Lease, Tenant shall not generate, store, handle, discharge or maintain in. on or about any portion of the Property, any asbestos, polychlorinated biphenyls, or any other
hazardous or toxic materials, wastes and substances which are defined, determined or identified as such (including, but not limited to, pesticides and petroleum products if they are defined, determined or identified as such) in any federal, state or
local laws, rules or regulations (whether now existing or hereafter enacted or promulgated), or any judicial or administrative interpretation of any thereof, including any judicial or administrative interpretation of any thereof, including any
judicial or administrative orders or judgments. 
 10. INTENTIONALLY DELETED. 

11. Except as specifically provided in this Agreement, Lender shall not, by virtue of this Agreement, the Security
Instrument or any other instrument to which Lender may be a party, be or become subject to any liability or obligation to Tenant under the Lease or otherwise. 
 12. (A) Tenant acknowledges and agrees that this Agreement satisfies and complies in all respects with the provisions of Article 18 of the Lease, and that this Agreement supersedes (but only to the extent
inconsistent with) the provisions of such Article and any other provision of the Lease relating to the priority or subordination of the Lease and the interests or estates created thereby to the Security Instrument. 

(B) Tenant agrees to enter into a subordination, non-disturbance and attornment agreement with any lender which shall
succeed Lender as lender with respect to the Property, or any portion thereof, provided that such agreement is the same in all material respects to this Agreement; provided, however, that Tenant shall have the right to modify the representations
made in Section 15 below to reflect the accuracy of such matters as of the date of Tenant’s delivery of such subordination, non-disturbance and attornment agreement. 

13. (A) Any notice of a default by Landlord under the Lease required or permitted to be given by Tenant to Landlord shall
be simultaneously given also to Lender, and any right to Tenant dependent upon notice shall take effect as against Lender or Successor-Landlord only after notice is so given. Performance by Lender shall satisfy any conditions of the Lease requiring
performance by Landlord, and Lender shall have a reasonable time to complete such performance as provided in Paragraph 5 hereof. 

  
 4 

 (B) All notices or other communications required or permitted to be given
to Tenant or to Lender pursuant to the provisions of this Agreement shall be in writing and shall be deemed given only if mailed by United States registered mail, postage prepaid, or if sent by nationally recognized overnight delivery service (such
as Federal Express or United States Postal Service Express Mail), addressed as follows: 
  

			
	 to Tenant, at the following address:
	  	 Before the Lease Commencement Date:
 TeleNav, Inc.
 1130 Kifer Rd.

Sunnyvale, CA 94086
 Attn:    General Counsel

		
		  	 From and after the Lease Commencement Date:
 TeleNav, Inc.
 950 DeGuigne Drive

Sunnyvale, CA 94085
 Atten:  General Counsel

		
	 to Lender, at the following address:
	  	 Wells Fargo Bank, N.A., as Trustee
 for the Registered Holders of GS Mortgage
 Securities Corporation II, Commercial
Mortgage
 Pass-Through Certificates, Series 2007-EOP
 c/o Bank of America, N.A.
 Capital Markets Servicing Group

900 West Trade Street, Suite 650
 Charlotte, North Carolina 28255

 or to such other address or number as such party may hereafter designate by notice delivered in
accordance herewith. All such notices shall be deemed given three (3) business days after delivery to the United States Post office registry clerk if given by registered mail, or on the next business day after delivery to an overnight delivery
courier. 
 14. This Agreement may be modified only by an agreement in writing signed by the parties hereto, or
their respective successors-in-interest. This Agreement shall inure to the benefit of, and be binding upon, the parties hereto, and their respective successors and assigns. The term “Lender” shall mean the then holder of the Security
Instrument. The term “Landlord” as used in this Agreement shall mean the then holder of the landlord’s interest in the Lease. The term “person” shall mean an individual, joint venture, corporation, partnership, trust,
limited liability company, unincorporated association or other entity. All references herein to the Lease shall mean the Lease as modified by this Agreement, and to any amendments or modifications to the Lease which are consented to in writing by
Lender. Any inconsistency between the Lease and the provisions of this Agreement shall be resolved, to the extent of such inconsistency, in favor of this Agreement. Notwithstanding anything to the contrary contained in this Agreement, no provision
of this Agreement shall be deemed to amend any provision of the Lease as between Landlord, as lessor, and Tenant, as lessee, inter se nor waive any rights which Tenant may now or hereafter have against CA-Sunnyvale Business Center Limited
Partnership. 
 15. Tenant hereby represents to Lender as follows: 

(a) The Lease is in full force and effect, and has not been further amended. 

(b) There has been no assignment of the Lease or subletting of any portion of the premises demised under the Lease that
is currently in effect. 
 (c) The copy of the Lease delivered concurrently herewith to the Lender by Tenant is
accurate and complete and there are no other oral or written agreements or understandings between Landlord and Tenant relating to the premises demised under the Lease or the Lease transaction except as set forth in said Lease. 

  
 5 

 (d) The execution of the Lease was duly authorized and the Lease is in full
force and effect, and to the best of Tenant’s current actual knowledge there exists no default (beyond any applicable grace period) on the part of either Tenant or Landlord under the Lease. 

(e) There has not been filed by or against Tenant, nor to the best of the knowledge and belief of Tenant is there
threatened against Tenant, any petition under the bankruptcy laws of the United States. 
 16. Whenever, from
time to time, reasonably requested by Lender (but not more than one (1) times during any calendar year), Tenant shall execute and deliver to or at the direction of Lender, and without charge to Lender, a written certification, in a form
acceptable to Tenant, the then-current status of all of the matters set forth in Paragraph 15 above, and any other information Lender may reasonably require to confirm the current status of the Lease. 

17. BOTH TENANT AND LENDER HEREBY IRREVOCABLY WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM
ARISING OUT OF OR RELATING TO THIS AGREEMENT. 
 18. This Agreement shall be governed by and construed in accordance with the
laws of the State in which the Property is located. 
 [The remainder of this page is left intentionally blank.]

  
 6 

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

			
	LENDER:
	
	 WELLS FARGO BANK, N.A., AS TRUSTEE
 FOR THE REGISTERED HOLDERS OF

GS MORTGAGE SECURITIES CORPORATION II,
 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-EOP

	
	 By: Bank of America, N.A., as Servicer

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  

			
	TENANT	 	
	
	 TELENAV, INC., a Delaware corporation

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  

					
	 AGREED AND CONSENTED TO:

	
	 LANDLORD:

	
	CA-SUNNYVALE BUSINESS CENTER LIMITED PARTNERSHIP, a Delaware limited partnership
	
	By: EOP Owner GP, L.L.C., a Delaware limited liability company, its general partner
			
		 	 By:
	 	  

			
		 	 Name:
	 	  

			
		 	 Title:
	 	  

  
 7 

			
	STATE OF NORTH CAROLINA)	 	
		 	 ) ss.

	COUNTY OF MECKLENBURG)	 	

 On the      day of
                     in the year 2011 before me, the undersigned, a notary public in and for said state, personally appeared
                                        , the
                     of Bank of America, N.A., as Servicer for Wells Fargo Bank, N.A., as Trustee for the Registered Holders of GS Mortgage
Securities Corporation II, Commercial Mortgage Pass-through Certificates, Series 2007-EOP, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and
acknowledged to me that he/she/they executed the same in his/her/their capacity, and that by his/her/their signature on the instrument, the individual, or the person upon behalf of which the individual acted, executed the instrument. 

 

	
	
                             
                                         
      Notary

	 Public

  

			
	 [Notary Seal]
	  	 My commission expires:

  

			
	
STATE OF                           
          
	    	 )

		    	 ) ss.

	
COUNTY OF                           
      
	    	 )

 On the      day of
                     in the year 2011 before me, the undersigned, a notary public in and for said state, personally appeared
                                        , the
                     of
                            , personally known to me or proved to me on the basis of satisfactory evidence to
be the individual whose name is subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their capacity, and that by his/her/their signature on the instrument, the individual, or the person upon behalf
of which the individual acted, executed the instrument. 
  

	
	
                             
                                         
      Notary

	 Public

  

			
	 [Notary Seal]
	  	 My commission expires:

  
 8 

			
	
STATE OF                           
          
	    	 )

		    	 ) ss.

	
COUNTY OF                           
              
	    	 )

 On the      day of
                     in the year 2011 before me, the undersigned, a notary public in and for said state, personally appeared
                                        , the
                     of                     ,
personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their capacity, and that by
his/her/their signature on the instrument, the individual, or the person upon behalf of which the individual acted, executed the instrument. 
  

	
	
                             
                                         
      Notary

	 Public

  

			
	 [Notary Seal]
	  	 My commission expires:

  
 9 

 SCHEDULE A 
 Legal Description of Property 
 All that real property situated in the City
of Sunnyvale, County of Santa Clara, State of California, more particularly described as follows: 
 ALL OF PARCEL 1 AS SHOWN ON
THAT CERTAIN MAP ENTITLED “PARCEL MAP BEING A PORTION OF PARCELS “A” AND “B” AS SHOWN ON PARCEL MAP RECORDED IN BOOK 234 OF MAPS AT PAGE 44, SANTA CLARA COUNTY RECORDS”, WHICH MAP WAS FILED FOR RECORD IN THE OFFICE OF
THE RECORDER OF THE COUNTY OF SANTA CLARA, STATE OF CALIFORNIA ON AUGUST 14, 1989, IN BOOK 604 OF MAPS, PAGE 18. 
 APN: 205-22-022 

  
 10 

 EXHIBIT H 

SUNNYVALE BUSINESS CENTER 
 SIGNAGE STANDARDS 
 See Attached 

  
 Exhibit H

 1 

 Tenant Signage Specs at Sunnyvale Business Center 

920, 930 & 950 DeGuigne Drive, Sunnyvale 
 Site Plan with Signage Locations 
 

 

 Monument Sign Specs 
 

 
 Existing Main Monument 

 

 Monument Sign Design Specs: 
 Typeface 
 Zurich XCn BT 

abcdefghijklmnopqrstuvwxyz 
 ABCDEFGHIJKLMNOPQRSTUVWXYZ 
 1234567890 

Zurich LtXCn BT 
 abcdefghijklmnopqrstuvwxyz 
 ABCDEFGHIJKLMNOPQRSTUVWXYZ 

1234567890 
 Other
Logo 
 

 
 Color Scheme 
 

 Aluminum painted MAP Super Sparkle Silver 
 

 Aluminum painted MAP Matte Black, or Copy in Matte Black 
 Symbols 

 

 On-Building Signage 
 Tenant allotted one on-building sign for either 930 or 950 DeGuigne, as outlined below. 
 

 Sign Type B = Proposed Attached Tenant ID Sign - 950 De Guigne 
 

 
 

 Sign Type B = Proposed Attached Tenant ID Sign - 930 De Guigne 
 

 

 On-Building Sign Design Specs: 

 
 Allowable square footage for skyline signs: 

1 square foot of signage per 1 foot of linear 
 building frontage with a maximum of 300 
 square feet total. 

 EXHIBIT I-1 

SUNNYVALE BUSINESS CENTER 
 MEMORANDUM OF LEASE 
 See Attached 

  
 Exhibit I

 RECORDING REQUESTED BY 
 AND WHEN RECORDED MAIL TO: 
 TELENAV, INC. 

1130 Kifer Rd 
 Sunnyvale, CA 94086 

Attn: General Counsel 
  

 
 (Space Above For Recorder’s
Use) 
 MEMORANDUM OF LEASE 

THIS MEMORANDUM OF LEASE is made and entered into as of June 28, 2011, by and between CA-SUNNYVALE
BUSINESS CENTER LIMITED PARTNERSHIP, a Delaware limited partnership (“Landlord”), and TELENAV, INC.,
a Delaware corporation (“Tenant”). 

1.        Lease.    Landlord does hereby lease to
Tenant and Tenant does hereby lease from Landlord those certain premises located at 920 DeGuigne Drive, 930 DeGuigne Drive and 950 DeGuigne Drive, Sunnyvale, California (the “Premises”), pursuant to the terms and conditions of that
certain unrecorded Office Lease (the “Lease”) dated as of June 28, 2011, between Landlord and Tenant. The land on which the Building is located is described on Exhibit “1” attached hereto (the
“Property”). 

2.        Term.    The initial term of the Lease is
eight (8) years commencing on December 1, 2011 (subject to extension of the commencement date as set forth in the Lease) (“Commencement Date”), and expiring on the day immediately preceding the eighth
(8th) anniversary of the Commencement Date (“Expiration Date”); provided, however, that the term of the Lease may be extended by Tenant for two (2) additional five (5) year periods. 

3.        Notice.    It is understood and agreed that
the purpose of this Memorandum of Lease is to provide notice of the Lease. All rights and obligations of Landlord and Tenant are governed by the terms, conditions, limitations and restrictions contained in said Lease and the Exhibits thereto. In the
event of any inconsistency between the terms of this Memorandum of Lease and of said Lease, said Lease shall govern and control. 

[Signature are on the next page] 

  
 1 

 IN WITNESS WHEREOF, the Landlord and Tenant have executed this Memorandum of
Lease as of the day and year first above written. 
  

					
	 LANDLORD:
  

CA-SUNNYVALE BUSINESS CENTER LIMITED
PARTNERSHIP, a Delaware limited partnership
  

	By:	 	 EOP OWNER GP L.L.C.,
 a Delaware limited liability company,
 its general partner

 

		 	 By:
	 	  

			
		 	Name:	 	  

			
		 	Title:	 	  

	  

TENANT:

	  

TELENAV, INC.,

a Delaware Corporation

	  
 By:
	 	  

		
	 Name:
	 	  

		
	 Title:
	 	  

		 	 [chairman, president or vice-president]

	  
 By:
	 	  

		
	 Name:
	 	  

		
	 Title:
	 	  

		 	 [secretary, assistant secretary, chief

financial officer or assistant treasurer]

  
 2 

 EXHIBIT “1” 

LEGAL DESCRIPTION 
 All that real property situated in the City of Sunnyvale, County of Santa Clara, State of California, more particularly described as follows: 

ALL OF PARCEL 1 AS SHOWN ON THAT CERTAIN MAP ENTITLED “PARCEL MAP BEING A PORTION OF PARCELS “A” AND “B” AS
SHOWN ON PARCEL MAP RECORDED IN BOOK 234 OF MAPS AT PAGE 44, SANTA CLARA COUNTY RECORDS”, WHICH MAP WAS FILED FOR RECORD IN THE OFFICE OF THE RECORDER OF THE COUNTY OF SANTA CLARA, STATE OF CALIFORNIA ON AUGUST 14, 1989, IN BOOK 604 OF MAPS,
PAGE 18. 
 APN: 205-22-022 

  
 3 

 CERTIFICATE OF ACKNOWLEDGMENT 

OF NOTARY PUBLIC 
  

							
	 STATE OF CALIFORNIA
	  	            )	  		  	
		  	            )	  	ss	  	
	 COUNTY OF SANTA CLARA
	  	            )	  		  	

 On
                    , before me,
                    , Notary Public, personally appeared
                    , who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within
instrument, and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed
the instrument. 
 I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is
true and correct. 
 WITNESS my hand and official seal. 

 

			
	 Notary Public
	  	(Seal)

 CERTIFICATE OF ACKNOWLEDGMENT 
 OF NOTARY PUBLIC 
  

							
	 STATE OF CALIFORNIA
	  	            )	  		  	
		  	            )	  	ss	  	
	 COUNTY OF SANTA CLARA
	  	            )	  		  	

 On
                    , before me,
                    , Notary Public, personally appeared
                    , who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within
instrument, and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed
the instrument. 
 I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is
true and correct. 
 WITNESS my hand and official seal. 

 

			
	 Notary Public
	  	(Seal)

  
 4 

 CERTIFICATE OF ACKNOWLEDGMENT 

OF NOTARY PUBLIC 
  

							
	 STATE OF C.ALIFORNIA
	  	            )	  		  	
		  	            )	  	ss	  	
	 COUNTY OF SANTA CLARA
	  	            )	  		  	

 On
                    , before me,
                    , Notary Public, personally appeared
                    , who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within
instrument, and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed
the instrument. 
 I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is
true and correct. 
 WITNESS my hand and official seal. 

 

			
	 Notary Public
	  	(Seal)

  
 5 

 EXHIBIT I-2 

SUNNYVALE BUSINESS CENTER 
 QUITCLAIM DEED 
 See Attached 

  
 Exhibit I

 RECORDING REQUESTED BY 
 AND WHEN RECORDED MAIL TO: 
 Equity Office 

2655 Campus Drive, Suite 100 
 San Mateo, CA
94403 
 Attn: Managing Counsel 
  

 
 (Space Above For Recorder’s
Use) 
 Documentary Transfer Tax: None 
 APN: 205-22-022 
 QUITCLAIM DEED 

FOR VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, TELENAV, INC., a Delaware corporation
(“Transferor”), does hereby REMISE, RELEASE AND QUITCLAIM all of Transferor’s right, title and interest in and to, or any right, title and interest claimed by, under or through Transferor to, that certain real property located
in the City of Sunnyvale, County of Santa Clara, State of California described in Exhibit 1 (the “Real Property”) attached hereto. 
 The purpose of this Quitclaim Deed is to release any and all interest, legal or equitable, of the Transferor in and to the Real Property and the improvements constructed on the Real Property, together
with all rights to adjoining streets, rights of way, easements, and all other appurtenant rights, including any interest arising by virtue of that certain unrecorded Office Lease (the “Lease”) dated as of June 28, 2011, entered into
by and between CA-SUNNYVALE BUSINESS CENTER LIMITED PARTNERSHIP, a Delaware limited partnership, as Landlord, and Transferor, as Tenant, as the same may be amended, modified or supplemented, of which a Memorandum of Lease was recorded on
                    , 2011, as Instrument No.
                    , in the office of the Recorder of the County of Santa Clara, State of California. 

[SIGNATURES FOLLOW ON NEXT PAGE] 

  
 1 

 Executed as of
                    , 20        . 

TRANSFEROR: 

TELENAV, INC., a Delaware corporation 
  

			
		
	 By:
	 	  

		
	 Name:
	 	  

		
	 Title:
	 	  

		
	 By:
	 	  

		
	 Name:
	 	  

		
	 Title:
	 	  

  
 2 

 EXHIBIT “1” 

LEGAL DESCRIPTION 
 All that real property situated in the City of Sunnyvale, County of Santa Clara, State of California, more particularly described as follows: 

ALL OF PARCEL 1 AS SHOWN ON THAT CERTAIN MAP ENTITLED “PARCEL MAP BEING A PORTION OF PARCELS “A” AND “B” AS
SHOWN ON PARCEL MAP RECORDED IN BOOK 234 OF MAPS AT PAGE 44, SANTA CLARA COUNTY RECORDS”, WHICH MAP WAS FILED FOR RECORD IN THE OFFICE OF THE RECORDER OF THE COUNTY OF SANTA CLARA, STATE OF CALIFORNIA ON AUGUST 14, 1989, IN BOOK 604 OF MAPS,
PAGE 18. 
 APN: 205-22-022 

  
 3 

 CERTIFICATE OF ACKNOWLEDGMENT 

OF NOTARY PUBLIC 
  

									
	 STATE OF CALIFORNIA
	  	)	  				  	
		  	)	  	 	ss	  	  	
	 COUNTY OF SANTA CLARA
	  	)	  				  	

 On
                    , before me,
                    , Notary Public, personally appeared
                    , who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within
instrument, and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed
the instrument. 
 I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is
true and correct. 
 WITNESS my hand and official seal. 

 

					
		  	 	(Seal	) 
	  
 Notary Public
	  			

 CERTIFICATE OF ACKNOWLEDGMENT 
 OF NOTARY PUBLIC 
  

									
	 STATE OF CALIFORNIA
	  	)	  				  	
		  	)	  	 	ss	  	  	
	 COUNTY OF SANTA CLARA
	  	)	  				  	

 On
                    , before me,
                    , Notary Public, personally appeared
                    , who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within
instrument, and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed
the instrument. 
 I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is
true and correct. 
 WITNESS my hand and official seal. 

 

					
		  	 	(Seal	) 
	  
 Notary Public
	  			

  
 4 

 EXHIBIT J 
 SUNNYVALE BUSINESS CENTER 
 UNDERLYING DOCUMENTS 

 

	1.	Easement(s) for the purpose(s) shown below and rights incidental thereto as granted in a document. 

 

			
	 Granted to:
	  	 Pacific Gas and Electric Company and The Pacific Telephone and Telegraph Company

	 Purpose:
	  	 Pole line easement

	 Recorded:
	  	 August 23, 1965, Book 7077, Page 669, of Official Records

	 Affects:
	  	 The Southerly 5 feet of Said Land and a 3 foot x 20 foot portion of Said Land

  

	2.	Easement(s) for the purpose(s) shown below and rights incidental thereto as granted in a document. 

 

			
	 Granted to:
	  	 Pacific Gas and Electric Company and The Pacific Telephone and Telegraph Company

	 Purpose:
	  	 Underground and aboveground facilities

	 Recorded:
	  	 December 4, 1968, Book 8356, Page 734, of Official Records

	 Affects:
	  	 A 20 foot strip of Said Land

  

	7.	Easement(s) for the purpose(s) shown below and rights incidental thereto as granted in a document. 

 

			
	 Granted to:
	  	 Pacific Gas and Electric Company and The Pacific Telephone and Telegraph Company

	 Purpose:
	  	 Underground and aboveground facilities

	 Recorded:
	  	 March 28, 1975, Book B338, Page 118, of Official Records

	 Affects:
	  	 The Southerly 5 feet of the Westerly 100 feet of Said Land

  

	8.	Covenants, conditions and restrictions in the declaration of restrictions but omitting any covenants or restrictions, if any, including, but not limited to those based
upon race, color, religion, sex, sexual orientation, familial status, marital status, disability, handicap, national origin, ancestry, or source of income, as set forth in applicable state or federal laws, except to the extent that said covenant or
restriction is permitted by applicable law. 

  

			
	 Recorded:
	  	 August 18, 1989, Book L062, Page 351, of Official Records

  

	9.	Easement(s) for the purpose(s) shown below and rights incidental thereto as granted in a document. 

 

			
	 Granted to:
	  	 Pacific Gas and Electric Company and Pacific Bell, a California Corporation

	 Purpose:
	  	 Construct, reconstruct, install, inspect, maintain, replace, remove and use facilities

	 Recorded:
	  	 November 6, 1989, Book L157, Page 480, of Official Records

	 Affects:
	  	 As follows:

 The strips of land of the uniform width of 10 feet, lying 5 feet on each side of the
alignment of the facilities as initially installed hereunder 
 Second party agrees that on receiving a request in
writing, it will, within 180 days, survey, prepare and record a “Notice of Final Description” referring to this instrument and setting forth a description of said strips of land. 

  
 Exhibit J

 1 

	10.	Easement(s) for the purpose(s) shown below and rights incidental thereto as granted in a document. 

 

			
	 Granted to:
	  	 Pacific Gas and Electric Company

	 Purpose:
	  	 To construct, reconstruct, install, inspect, maintain, replace, remove and use facilities

	 Recorded:
	  	 January 2, 1992, Book L993, Page 1531, of Official Records

	 Affects:
	  	 The strips of land of the uniform width of 10 feet, the center lines of which are delineated by the heavy dashed lines shown upon the print of second party’s
Drawing No. SJB-1945

  

  
 Exhibit J

 2

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