Document:

EX-10.13

 Exhibit 10.13 

EXECUTION COPY 
 LEASE 

321 SUMMER STREET LLC, 

Landlord, 
 and 

INOZYME PHARMA, INC., 

Tenant 
  

 TABLE OF CONTENTS 

 

							
			
	 	 	 	  	Page	 
	 1.
	 	 USE AND RESTRICTIONS ON USE
	  	 	1	 
			
	 2.
	 	 TERM
	  	 	2	 
			
	 3.
	 	 RENT
	  	 	4	 
			
	 4.
	 	 RENT ADJUSTMENTS
	  	 	4	 
			
	 5.
	 	 SECURITY DEPOSIT
	  	 	8	 
			
	 6.
	 	 ALTERATIONS
	  	 	10	 
			
	 7.
	 	 REPAIR
	  	 	11	 
			
	 8.
	 	 LIENS
	  	 	11	 
			
	 9.
	 	 ASSIGNMENT AND SUBLETTING
	  	 	12	 
			
	 10.
	 	 INDEMNIFICATION
	  	 	14	 
			
	 11.
	 	 INSURANCE
	  	 	15	 
			
	 12.
	 	 WAIVER OF SUBROGATION
	  	 	15	 
			
	 13.
	 	 SERVICES AND UTILITIES
	  	 	15	 
			
	 14.
	 	 HOLDING OVER
	  	 	18	 
			
	 15.
	 	 SUBORDINATION
	  	 	18	 
			
	 16.
	 	 RULES AND REGULATIONS
	  	 	18	 
			
	 17.
	 	 REENTRY BY LANDLORD
	  	 	18	 
			
	 18.
	 	 DEFAULT
	  	 	19	 
			
	 19.
	 	 REMEDIES
	  	 	20	 
			
	 20.
	 	 TENANT’S BANKRUPTCY OR INSOLVENCY
	  	 	23	 
			
	 21.
	 	 QUIET ENJOYMENT
	  	 	24	 
			
	 22.
	 	 CASUALTY
	  	 	24	 
			
	 23.
	 	 EMINENT DOMAIN
	  	 	25	 
			
	 24.
	 	 SALE BY LANDLORD
	  	 	26	 
			
	 25.
	 	 ESTOPPEL CERTIFICATES
	  	 	26	 
			
	 26.
	 	 SURRENDER OF PREMISES
	  	 	26	 
			
	 27.
	 	 NOTICES
	  	 	27	 
			
	 28.
	 	 TAXES PAYABLE BY TENANT
	  	 	27	 
			
	 29.
	 	 RELOCATION OF TENANT
	  	 	28	 
			
	 30.
	 	 DEFINED TERMS AND HEADINGS
	  	 	28	 
			
	 31.
	 	 TENANT’S AUTHORITY
	  	 	28	 
			
	 32.
	 	 FINANCIAL STATEMENTS AND CREDIT REPORTS
	  	 	29	 
			
	 33.
	 	 COMMISSIONS
	  	 	29	 
			
	 34.
	 	 TIME AND APPLICABLE LAW
	  	 	29	 
			
	 35.
	 	 SUCCESSORS AND ASSIGNS
	  	 	29	 
			
	 36.
	 	 ENTIRE AGREEMENT
	  	 	29	 

  
 i 

 TABLE OF CONTENTS 

(continued) 
  

							
			
	 	 	 	  	Page	 
	 37.
	 	 EXAMINATION NOT OPTION
	  	 	29	 
			
	 38.
	 	 RECORDATION
	  	 	30	 
			
	 39.
	 	 PARKING
	  	 	30	 
			
	 40.
	 	 LIMITATION OF LANDLORD’S LIABILITY
	  	 	31	 
			
	 41.
	 	 EXTENSION OPTION
	  	 	31	 

 EXHIBIT A-1 – FLOOR PLAN DEPICTING THE PREMISES 

EXHIBIT B – WORK LETTER 
 SCHEDULE 3 

INTENTIONALLY OMITTED 
 EXHIBIT C – COMMENCEMENT DATE
MEMORANDUM 
 EXHIBIT D – RULES AND REGULATIONS 

  
 ii 

 GROSS (BY)-INS OFFICE LEASE 

REFERENCE PAGES 
  

			
	BUILDING:	  	321 Summer Street, Boston, MA 02210
		
	LANDLORD:	  	321 SUMMER STREET LLC, a Delaware limited liability company
		
	LANDLORD’S ADDRESS:	  	 321 Summer Street LLC
 c/o RREEF

Management, L.L.C.
 321 Summer Street, Suite 405

Boston, MA 02210
  

With a copy to:
  

c/o CB Richard Ellis New England
 One Main Street

Cambridge, MA 02142

		
	 WIRE INSTRUCTIONS AND/OR ADDRESS
 FOR RENT
PAYMENT:
	  	 Lockbox:
  

321 Summer Street LLC – PCO 48001
 P.O. Box 209234

Austin, TX 78720-9234
  

Wire Transfer:
  

321 Summer Street, a Property of 321 Summer Street LLC
 FEIN #
[**]
 JP Morgan Chase
 ABA – [**]

Acct – [**]

		
	LEASE REFERENCE DATE:	  	December         , 2019
		
	TENANT:	  	INOZYME PHARMA, INC., a Delaware corporation
		
	TENANT’S NOTICE ADDRESS:	  	
		
	 (a) As of beginning of Term:
	  	 321 Summer Street, Suite 400
 Boston,
Massachusetts 02210

		
	 (b) Prior to beginning of Term (if different):
	  	 280 Summer Street
 Boston, MA
02210

  

					
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	PREMISES ADDRESS:	  	 321 Summer Street
 Suite 400

Boston, Massachusetts 02210

		
	PREMISES RENTABLE AREA:	  	Approximately 8,499 rentable square feet
		
	PREMISES:	  	That certain premises containing the Premises Rentable Area referenced above and located on the fourth (4th) floor of the Building and approximately as shown on the floor plan
attached hereto as Exhibit A.
		
	SCHEDULED COMMENCEMENT DATE:	  	May 1, 2020, subject to Tenant Delays and Force Majeure Delays (as hereinafter defined).
		
	COMMENCEMENT DATE:	  	As defined in Section 2.1.
		
	RENT COMMENCEMENT DATE:	  	Three (3) months following the Commencement Date.
		
	TERM OF LEASE:	  	Approximately five (5) years and three (3) months beginning on the Commencement Date and ending on the Termination Date.
		
	TERMINATION DATE:	  	The last day of the sixtieth (60th) full calendar month after the Rent Commencement Date.
		
	ANNUAL RENT and MONTHLY INSTALLMENT OF RENT (Article 3):	  	

  

															
	 Period
	  	Annual Rent
Per Square
Foot	 	  	Annual Rent	 	  	Monthly
Installment of
Rent	 
	 from
	  	through
	 Month 1
	  	Month 12	  	$	61.00	 	  	$	518,439.00	 	  	$	43,203.25	 
	 Month 13
	  	Month 24	  	$	62.22	 	  	$	528,807.78	 	  	$	44,067.32	 
	 Month 25
	  	Month 36	  	$	63.46	 	  	$	539,346.54	 	  	$	44,945.55	 
	 Month 37
	  	Month 48	  	$	64.73	 	  	$	550,140.27	 	  	$	45,845.02	 
	 Month 49
	  	Month 60	  	$	66.02	 	  	$	561,103.98	 	  	$	46,758.67	 

 Month 1 is the period beginning on the Rent Commencement Date and ending at the end of the first (1st) full calendar month
thereafter (by way of example only, if the Rent Commencement Date were December 1, 2019, Month 1 would be the period December 1, 2019 through December 31, 2019; if the Rent Commencement Date were December 15, 2019, Month 1 would
be the period 

  

					
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 from December 15, 2019 through January 31, 2020). Month 2 is the calendar month period
immediately following Month 1; Month 3 is the calendar month following Month 2; and so forth, up to the Termination Date. 
 The actual dates are to
be confirmed pursuant to Section 2.1. 
 All rental amounts are net of Tenant electricity. 

 

			
	BASE YEAR (EXPENSES):	  	2020
		
	BASE YEAR (INSURANCE):	  	2020
		
	BASE YEAR (TAXES):	  	Taxes for July 1, 2020 to June 30, 2021 (fiscal 2021)
		
	TENANT’S PROPORTIONATE SHARE:	  	9.353% (8,499/90,870)
		
	SECURITY DEPOSIT:	  	$129,609.75 in the form of an irrevocable letter of credit; See Article 5
		
	ASSIGNMENT/SUBLETTING FEE:	  	$1,500.00
		
	AFTER-HOURS HVAC COST:	  	$75.00 per hour, subject to change at any time.
		
	PARKING	  	One (1) parking pass at $350.00 per month (See Article 39 Parking)
		
	REAL ESTATE BROKER DUE COMMISSION:	  	Jones Lang LaSalle and Newmark Knight Frank
		
	TENANT’S NAICS CODE:	  	001265102
		
	BUILDING BUSINESS HOURS:	  	Monday through Friday 8:00 a.m. – 6:00 p.m. (excluding Massachusetts state holidays)
		
	AMORTIZATION RATE:	  	11%

 The Reference Pages information is incorporated into and made a part of the Lease. In the event of any conflict between any
Reference Pages information and the Lease, the Lease shall control. This Lease includes Exhibits A through D, all of which are made a part of this Lease. 

  

					
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 IN WITNESS WHEREOF, Landlord and Tenant have executed the Lease as of the Lease Reference Date set
forth above. 
  

									
	LANDLORD:	 		 	TENANT:
			
	321 SUMMER STREET LLC, a Delaware limited liability company	 		 	INOZYME PHARMA, INC., a Delaware corporation
					
	By:	 	 /s/ David Crane
	 	        	 	By:	 	 /s/ Axel Bolte

	Name:	 	David Crane	 		 	Name:	 	Axel Bolte
	Title:	 	Vice President	 		 	Title:	 	Chief Executive Officer
					
	Dated:	 	December 11, 2019	 		 	Dated:	 	December 9, 2019
					
	By:	 	 /s/ Stephen J. George
	 		 		 	
	Name:	 	Stephen J. George	 		 		 	
	Title:	 	Managing Director	 		 		 	
					
	Dated:	 	December 13, 2019	 		 		 	

  

					
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 LEASE 

By this Lease Landlord leases to Tenant and Tenant leases from Landlord the Premises in the Building as set forth and described on the
Reference Pages. The Premises are depicted on the floor plan attached hereto as Exhibit A-1, and the Building is located on the Lot legally described on
Exhibit A-2. The Reference Pages, including all terms defined thereon, are incorporated as part of this Lease. 

1.    USE AND RESTRICTIONS ON USE. 

1.1    The Premises are to be used solely for general office purposes. Tenant shall not do or permit anything to be done in
or about the Premises which will in any way obstruct or interfere with the rights of other tenants or occupants of the Building or injure, annoy, or disturb them, or allow the Premises to be used for any improper, immoral, unlawful, or objectionable
purpose, or commit any waste. Tenant shall not do, permit or suffer in, on, or about the Premises the sale of any alcoholic liquor without the written consent of Landlord first obtained. Tenant shall comply with all federal, state and city laws,
codes, ordinances, rules and regulations (collectively, “Regulations”) applicable to the use of the Premises and its occupancy and shall promptly comply with all governmental orders and directions for the correction, prevention and
abatement of any violations in the Building or appurtenant land, caused or permitted by, or resulting from the specific use by, Tenant, or in or upon, or in connection with, the Premises, all at Tenant’s sole expense. Tenant shall not do or
permit anything to be done on or about the Premises or bring or keep anything into the Premises which will in any way increase the rate of, invalidate or prevent the procuring of any insurance protecting against loss or damage to the Building or any
of its contents by fire or other casualty or against liability for damage to property or injury to persons in or about the Building or any part thereof. Tenant shall not bring upon the Premises or any portion of the Building or use the Premises or
permit the Premises or any portion thereof to be used for the growing, manufacturing, administration, distribution (including without limitation, any retail sales), possession, use or consumption of any cannabis, marijuana or cannabinoid product or
compound, regardless of the legality or illegality of the same. 
 1.2    Tenant shall not, and shall not direct, suffer
or permit any of its agents, contractors, employees, licensees or invitees (collectively, the “Tenant Entities”) to at any time handle, use, manufacture, store or dispose of in or about the Premises or the Building any (collectively
“Hazardous Materials”) flammables, explosives, radioactive materials, hazardous wastes or materials, toxic wastes or materials, or other similar substances, petroleum products or derivatives or any substance subject to regulation by
or under any federal, state and local laws and ordinances relating to the protection of the environment or the keeping, use or disposition of environmentally hazardous materials, substances, or wastes, presently in effect or hereafter adopted, all
amendments to any of them, and all rules and regulations issued pursuant to any of such laws or ordinances (collectively “Environmental Laws”), nor shall Tenant suffer or permit any Hazardous Materials to be used in any
manner not fully in compliance with all Environmental Laws, in the Premises or the Building and appurtenant land or allow the environment to become contaminated with any Hazardous Materials. Notwithstanding the foregoing, Tenant may handle, store,
use or dispose of products containing small quantities of Hazardous Materials (such as aerosol cans containing insecticides, toner for copiers, paints, paint remover and the like) to the extent customary and necessary for the use of the Premises for
general office purposes; provided that Tenant shall always handle, store, use, and dispose of any such Hazardous Materials in a safe and lawful manner and never allow such Hazardous Materials to contaminate the Premises, Building and
appurtenant land or the environment. Tenant shall protect, defend, indemnify and hold each and all of the Landlord Entities (as defined in Article 301) harmless from and against any and all loss, claims, liability or costs (including court costs and
attorney’s fees) incurred by reason of any actual or asserted failure of Tenant to fully comply with all applicable Environmental Laws, or the presence, handling, use or disposition in or from the Premises of any

  

					
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Hazardous Materials by Tenant or any Tenant Entity (even though permissible under all applicable Environmental Laws or the provisions of this Lease), or by reason of any actual or asserted
failure of Tenant to keep, observe, or perform any provision of this Section 1.2. 
 1.3    Tenant and the Tenant
Entities will be entitled to the non-exclusive use of the common areas of the Building as they exist from time to time during the Term, including the parking facilities, subject to Landlord’s reasonable
rules and regulations regarding such use. However, in no event will Tenant or the Tenant Entities park more vehicles in the parking facilities than the number of parking passes allocated to Tenant in the Reference Pages of this Lease. The foregoing
shall not be deemed to provide Tenant with an exclusive right to any parking spaces or any guaranty of the availability of any particular parking spaces or any specific number of parking spaces. 

Such rights shall always be subject to the Rules and Regulations set forth in Exhibit D as the same may be reasonably amended by the
Landlord from time to time, and such other reasonable rules and regulations from time to time established by Landlord by suitable notice, and to the right of Landlord to designate and change from time to time areas and facilities so to be used,
provided such designations and changes do not deprive Tenant of the substantive benefits of such areas and facilities. 
 Not included in the
Premises are the ceiling, the floor and all perimeter walls of the space identified in Exhibit A, except the inner surfaces thereof and the perimeter doors and windows. Tenant agrees that Landlord shall have the right to
place in the Premises (but in such manner as not unreasonably to interfere with Tenant’s use of the Premises or materially alter the Premises) utility lines, telecommunication lines, shafts, pipes and the like, for the use and benefit of
Landlord and other tenants in the Building, and to replace and maintain and repair such lines, pipes and the like, in, over and upon the Premises. Such utility lines, pipes and the like, shall not be deemed part of the Premises under this Lease.

 1.4    If the Building is being operated in accordance with Green Building Standards, Landlord shall provide bicycle
storage racks and may, in its discretion elect to establish preferred parking programs for hybrid and alternative fuel vehicles. 

1.5    Tenant shall have the right to Building standard signage on the lobby directory at no charge. Tenant’s logo
can be installed or applied at Tenant’s sole cost only on the glass storefront and not on any common walls. Tenant shall remove such logo at the expiration or earlier termination of the Lease Term. 

1.6    Tenant shall have access to the Premises on a 24 hour basis, 365 days per year, subject to the terms of this Lease.
Tenant may install an internal security system for the Premises, but such system shall tie into and be compatible with the Building fire alarm system. 

2.    TERM. 

2.1    The Term of this Lease shall begin on the date (“Commencement Date”) which shall be the Substantial
Completion Date (as defined in Exhibit B attached hereto), and shall terminate on the date as shown on the Reference Pages as the Termination Date based on the actual Commencement Date (“Termination
Date”), unless sooner terminated by the provisions of this Lease. Landlord shall tender possession of the Premises with (i) all HVAC, mechanical, electrical, lighting and life safety systems serving the Building and Premises in good
working condition, in good repair, in compliance with all applicable laws, rules and regulations; and (ii) the Landlord’s Work to be performed by Landlord pursuant to Exhibit B to this Lease “Substantially
Completed” (as such term is defined in Exhibit B), subject to any 

  

					
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Tenant Delays (as defined in Exhibit B attached hereto). Tenant and Landlord shall conduct a joint walk-through of the Premises and create a punch list of items not
completed within thirty (30) days after Landlord tenders possession of the Premises and Landlord agrees to proceed with due diligence to perform its obligations regarding such items. Tenant shall, at Landlord’s request, execute and deliver
a memorandum agreement provided by Landlord in the form of Exhibit C attached hereto, setting forth the actual Commencement Date, Termination Date and, if necessary, a revised rent schedule. Should Tenant fail to do so
within thirty (30) days after Landlord’s request, the information set forth in such memorandum provided by Landlord shall be conclusively presumed to be agreed and correct. 

2.2    Tenant agrees that in the event of the inability of Landlord to deliver possession of the Premises on the Scheduled
Commencement Date for any reason, Landlord shall not be liable for any damage resulting from such inability, but except to the extent such delay is the result of a Tenant Delay, Tenant shall not be liable for any rent until the time when Landlord
delivers possession of the Premises to Tenant. Notwithstanding the foregoing, in the event that this Lease is executed and delivered by Tenant to Landlord on or before December 9, 2019 and Landlord has not delivered possession of the Premises
to Tenant on or before May 15, 2020 (the “First Abatement Date”), Tenant shall be entitled to one-half day of free rent for each day from the First Abatement Date through
May 31, 2020 that Landlord fails to deliver possession of the Premises to Tenant (with the accrued free rent to be credited to Tenant in Month 4), provided the First Abatement Date shall be extended on a day for day basis for (a) each day
after December 9, 2019 that Tenant has not executed and delivered this Lease to Landlord and (b) for each day in completing the Landlord’s Work caused by Tenant Delays or Force Majeure Delays. If this Lease is executed and delivered
by Tenant to Landlord on or before December 9, 2019 and Landlord has not delivered possession of the Premises to Tenant on or before June 1, 2020 (the “Second Abatement Date”), Tenant shall be entitled to one day of free
rent for each day between June 1, 2020 through June 15, 2020 that Landlord fails to deliver possession of the Premises to Tenant (with the accrued free rent to be credited to Tenant in Month 4), provided the Second Abatement Date shall be
extended on a day for day basis for (a) each day after December 9, 2019 that Tenant has not executed and delivered this Lease to Landlord and (b) for each day in completing the Landlord’s Work caused by Tenant Delays or Force
Majeure Delays. If this Lease is executed and delivered by Tenant to Landlord on or before December 9, 2019 and Landlord has not delivered possession of the Premises to Tenant on or before June 16, 2020 (the “Third Abatement
Date”), Tenant shall be entitled to two days of free rent for each day after June 16, 2020 that Landlord fails to deliver possession of the Premises to Tenant (with the accrued free rent to be credited to Tenant in Month 4), provided
the Third Abatement Date shall be extended on a day for day basis for (a) each day after December 9, 2019 that Tenant has not executed and delivered this Lease to Landlord and (b) for each day in completing the Landlord’s Work
caused by Tenant Delays or Force Majeure Delays. In addition to the foregoing free rent penalty, Tenant shall be entitled to terminate this Lease by providing written notice to Landlord if the Landlord has not delivered possession of the Premises to
Tenant on or before August 31, 2019 (the “Delay Termination Date”) and, if such right is exercised by Tenant, this Lease shall be immediately terminated and Landlord shall promptly turn over all amounts previously paid by
Tenant hereunder (including, but not limited to, the Security Deposit), provided the Delay Termination Date shall be extended on a day for day basis for (a) each day after December 9, 2019 that Tenant has not executed and delivered this
Lease to Landlord and (b) for each day in completing the Landlord’s Work caused by Tenant Delays or Force Majeure Delays. No such failure to give possession on the Scheduled Commencement Date shall affect the other obligations of Tenant
under this Lease, except that the actual Commencement Date shall be postponed until the date that Landlord delivers possession of the Premises to Tenant, except to the extent that such delay is arising from or related to a Tenant Delay. If any delay
is the result of a Tenant Delay, the Commencement Date and the payment of rent under this Lease shall be accelerated by the number of days of such Tenant Delay. 

  

					
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 2.3    Landlord shall permit Tenant to access the Premises approximately
thirty (30) days prior to the Commencement Date for purposes of installation of tel/data cabling and furniture, fixtures and equipment, provided such early access shall not interfere with Landlord’s Work. Any such early access to
the Premises by any agent, employee or contractor of Tenant, prior to the Commencement Date shall be subject to all the provisions of this Lease other than the payment of rent, including, without limitation, Tenant’s compliance with the
insurance requirements of Article 11. Said early possession shall not advance the Rent Commencement Date or the Termination Date. 

3.    RENT. 

3.1    Tenant agrees to pay to Landlord the Annual Rent in effect from time to time by paying the Monthly Installment of
Rent then in effect on or before the first day of each full calendar month during the Term, except that the first full month’s rent shall be paid upon the execution of this Lease. The Monthly Installment of Rent in effect at any time shall be one-twelfth (1/12) of the Annual Rent in effect at such time. Rent for any period during the Term which is less than a full month shall be a prorated portion of the Monthly Installment of Rent based upon the number
of days in such month. Said rent shall be paid to Landlord, without deduction or offset and without notice or demand, at the Rent Payment Address, as set forth on the Reference Pages, or by ACH or to such other person or at such other place as
Landlord may from time to time designate in writing. If an Event of Default occurs, Landlord may require by notice to Tenant that all subsequent rent payments be made by an ACH or wire transfer from Tenant’s bank account to Landlord’s
account, without cost to Landlord. Tenant must implement such automatic payment system prior to the next scheduled rent payment or within ten (10) days after Landlord’s notice, whichever is later. Unless specified in this Lease to the
contrary, all amounts and sums payable by Tenant to Landlord pursuant to this Lease shall be deemed additional rent. 

3.2    Tenant recognizes that late payment of any rent or other sum due under this Lease will result in administrative
expense to Landlord, the extent of which additional expense is extremely difficult and economically impractical to ascertain. Tenant therefore agrees that if rent or any other sum is not paid when due and payable pursuant to this Lease, a late
charge shall be imposed in the amount that is the greater of: (a) Fifty Dollars ($50.00), or (b) six percent (6%) of the unpaid rent or other payment; provided, however, the first late payment under this Lease in any calendar year,
if timely cured, shall be not be assessed any late charge under this Section 3.2. The amount of the late charge to be paid by Tenant shall be reassessed and added to Tenant’s obligation for each successive month until paid. The provisions
of this Section 3.2 in no way relieve Tenant of the obligation to pay rent or other payments on or before the date on which they are due, nor do the terms of this Section 3.2 in any way affect Landlord’s remedies pursuant to Article
19 of this Lease in the event said rent or other payment is unpaid after date due. 
 3.3    Tenant hereby acknowledges
and agrees that the obligations of Tenant hereunder shall be separate and independent covenants and agreements, that rent shall continue to be payable in all events and that the obligations of Tenant hereunder shall continue unaffected, unless the
requirement to pay or perform the same shall have been terminated or abated pursuant to an express provision of this Lease. Landlord and Tenant each acknowledges and agrees that the independent nature of the obligations of Tenant hereunder
represents fair, reasonable, and accepted commercial practice with respect to the type of property subject to this Lease. Such acknowledgements by Tenant are a material inducement to Landlord entering into this Lease. 

4.    RENT ADJUSTMENTS. 

4.1    For the purpose of this Article 4, the following terms are defined as follows: 

4.1.1    Lease Year: Each fiscal year (as determined by Landlord from time to time) falling partly or wholly within
the Term. 
  

  

					
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 4.1.2    Expenses: All costs of operation, maintenance, repair,
replacement and management of the Building (including the amount of any credits which Landlord may grant to particular tenants of the Building in lieu of providing any standard services or paying any standard costs described in this
Section 4.1.2 for similar tenants), as determined in accordance with generally accepted accounting principles, including the following costs by way of illustration, but not limitation: costs to obtain and maintain certification for Green
Building Standards (excluding capital expenditure retrofitting or replacement costs to conform with certification requirements); water and sewer charges; utility costs, including, but not limited to, the cost of heat, light, power, steam, gas and
energy for the Building; waste disposal; recycling costs; the cost of janitorial services; the cost of security and alarm services (including any central station signaling system); costs of cleaning, repairing, replacing and maintaining the common
areas, including parking and landscaping, window cleaning costs; labor costs; costs and expenses of managing the Building including management and/or administrative fees; air conditioning maintenance costs; elevator maintenance fees and supplies;
material costs; equipment costs including the cost of maintenance, repair and service agreements and rental and leasing costs; purchase costs of equipment; current rental and leasing costs of items which would be capital items if purchased; tool
costs; licenses, permits and inspection fees; wages and salaries of employees directly and primarily engaged in the management and operation of the Building; employee benefits and payroll taxes; accounting and legal fees; any sales, use or service
taxes incurred in connection therewith. In addition, Landlord shall be entitled to recover, as additional rent (which, along with any other capital expenditures constituting Expenses, Landlord may either include in Expenses or cause to be billed to
Tenant along with Expenses and Taxes but as a separate item), Tenant’s Proportionate Share of: (a) an allocable portion of the cost of capital improvement items which are reasonably calculated to reduce operating expenses or enhance the
environmental sustainability of the Property’s operations; (b) the cost of fire sprinklers and suppression systems and other life safety systems and other capital other capital expenses which are required under any Regulations
which were not applicable to the Building at the time it was constructed; but the costs described in this sentence shall be amortized over the reasonable life of such the capital item related to each such expenditure in accordance with such
reasonable life and amortization schedules as shall be determined by Landlord in accordance with generally accepted accounting principles, with interest on the unamortized amount at one percent (1%) in excess of the Wall Street Journal prime lending
rate announced from time to time. Expenses shall not include any of the following: (i) Taxes, (ii) Insurance Costs, (iii) depreciation or amortization of the Building or equipment in the Building except as provided herein, (iv) loan
principal payments, (v) costs of alterations of tenants’ premises, (vi) leasing commissions, (vii) interest expenses on long-term borrowings or advertising costs, (viii) rental on ground leases or other underlying leases and
the costs of providing the same, (ix) any liabilities, costs or expenses associated with or incurred in connection with the removal, enclosure, encapsulation or other handling of hazardous materials and the cost of defending against claims in
regard to the existence or release of hazardous materials at the Building (except with respect to those costs for which Tenant is otherwise responsible pursuant to the express terms of this Lease), (x) costs of any items for which Landlord is or is
entitled to be paid or reimbursed by insurance, (xi) charges for electricity, water, or other utilities, services or goods and applicable taxes for which Tenant or any other tenant, occupant, person or other party is obligated to reimburse
Landlord or to pay to third parties, (xii) cost of any HVAC, janitorial or other services provided to tenants on an extra cost basis after regular business hours, (xiii) the cost of installing, operating and maintaining any specialty
service, such as a cafeteria, observatory, broadcasting facilities, child or daycare (but the parties agree that upon the introduction of any such service the Base Year (Expenses) shall be increased to include the first year’s annual costs of
such services), (xiv) cost of correcting defects in the design, construction or equipment of, or latent defects in, the Building, (xv) cost 

  

					
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of any work or service performed on an extra cost basis for any tenant in the Building to a materially greater extent or in a materially more favorable manner than furnished generally to the
tenants and other occupants, (xvi) cost of any work or services performed for any facility other than the Building, (xvii) any cost representing an amount paid to a person firm, corporation or other entity related to Landlord that is in
excess of the amount which would have been paid in the absence of such relationship, (xviii) cost of initial cleaning and rubbish removal from the Building to be performed before final completion of the Building or Premises, (xix) except
as expressly provided above, cost of any item that, under generally accepted accounting principles, are properly classified as capital expenses, (xx) lease payments for rental equipment (other than equipment for which depreciation is properly
charged as an expense) that would constitute a capital expenditure if the equipment were purchased, (xxi) cost of the initial stock of tools and equipment for operation, repair and maintenance of the Building, (xxiii) late fees or charges
incurred by Landlord due to late payment of expenses, except to the extent attributable to Tenant’s actions or inactions, (xxiii) cost of acquiring, securing cleaning or maintaining sculptures, paintings and other works of art,
(xxiv) real estate taxes or taxes on Landlord’s business (such as income, excess profits, franchise, capital stock, estate, inheritance, etc.), (xxv)direct costs or allocable costs (such as real estate taxes) associated with parking
operations if there is a separate charge to Tenant, other than tenants or the public for parking, (xxvi) charitable or political contributions, (xxvii) reserve funds, (xxiii) all other items for which another party compensates or pays
so that Landlord shall not recover any item of cost more than once, (xxix) any cost associated with operating as an on or off-site management office for the Building, except to the extent included in the
management fee permitted hereby, (xxx) Landlord’s general overhead and any other expenses not directly attributable to the operation and management of the Building (e.g. the activities of Landlord’s officers and executives or
professional development expenditures), except to the extent included in the management fee permitted hereby, (xxxi) costs and expenses incurred in connection with compliance with or contesting or settlement of any claimed violation of law or
requirements of law, except to the extent attributable to Tenant’s actions or inactions, and/or (xxxii) costs of mitigation or impact fees or subsidies (however characterized), imposed or incurred prior to the date of the Lease or imposed
or incurred solely as a result of another tenant’s or tenants’ use of the Building or their respective premises. 

4.1.3    Taxes: Real estate taxes and any other taxes, charges and assessments which are levied with respect to the
Building or the land appurtenant to the Building, or with respect to any improvements, fixtures and equipment or other property of Landlord, real or personal, located in the Building and used in connection with the operation of the Building and said
land, any payments to any ground lessor in reimbursement of tax payments made by such lessor; and all fees, expenses and costs incurred by Landlord in investigating, protesting, contesting or in any way seeking to reduce or avoid increase in any
assessments, levies or the tax rate pertaining to any Taxes to be paid by Landlord in any Lease Year. Taxes shall be determined without regard to any “green building” credit and shall not include any corporate franchise, or estate,
inheritance or net income tax, or documentary transfer tax imposed upon any transfer by Landlord of its interest in this Lease or the Building or any taxes to be paid by Tenant pursuant to Article 28. 

4.1.4    Insurance Costs: Any and all insurance charges of or relating to all insurance policies and endorsements
deemed by Landlord to be reasonably necessary or desirable and relating in any manner to the protection, preservation, or operation of the Building or any part thereof. 

4.2    If in any Lease Year, (i) Expenses paid or incurred shall exceed Expenses paid or incurred in the Base Year
(Expenses) and/or (ii) Taxes paid or incurred by Landlord in any Lease Year shall exceed the amount of such Taxes which became due and payable in the Base Year (Taxes), and/or (iii) Insurance Costs paid or incurred by Landlord in any Lease
Year shall exceed the amount of such Insurance Costs which became due and payable in the Base Year (Insurance), Tenant shall pay as additional rent for such Lease Year Tenant’s Proportionate Share of each such excess amount. 

  

					
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 4.3    The annual determination of Expenses and Insurance Costs shall be
made by Landlord and shall be binding upon Landlord and Tenant, subject to the provisions of this Section 4.3. Landlord may deliver such annual determination to Tenant via regular U.S. mail. During the Term, Tenant may review, at Tenant’s
sole cost and expense, the books and records supporting such determination in an office of Landlord, or Landlord’s agent, during normal business hours, upon giving Landlord five (5) days advance written notice within one hundred twenty
(120) days after receipt of such determination, but in no event more often than once in any one (1) year period, subject to execution of a confidentiality agreement acceptable to Landlord, and provided that if Tenant utilizes an
independent accountant to perform such review who is acceptable to Landlord in the exercise of its reasonable discretion (which determination shall be made by Landlord within ten (10) business days after request), is not compensated on a
contingency basis and is also subject to such confidentiality agreement. If Tenant fails to object to Landlord’s determination of Expenses and Insurance Costs within one hundred eighty (180) days after receipt, or if any such objection
fails to state with specificity the reason for the objection, Tenant shall be deemed to have approved such determination and shall have no further right to object to or contest such determination. In the event that during all or any portion of any
Lease Year or Base Year, the Building is not fully rented and occupied Landlord shall make an appropriate adjustment in occupancy-related Expenses for such year for the purpose of avoiding distortion of the amount of such Expenses to be attributed
to Tenant by reason of variation in total occupancy of the Building, by employing consistent and sound accounting and management principles to determine Expenses that would have been paid or incurred by Landlord had the Building been ninety-five
percent (95%) rented and occupied, and the amount so determined shall be deemed to have been Expenses for such Lease Year. 

4.4    Prior to the actual determination thereof for a Lease Year, Landlord may from time to time estimate Tenant’s
liability for Expenses, Insurance Costs and/or Taxes under Section 4.2, Article 6 and Article 28 for the Lease Year or portion thereof. Landlord will give Tenant written notification of the amount of such estimate and Tenant agrees that it will
pay, by increase of its Monthly Installments of Rent due in such Lease Year, additional rent in the amount of such estimate. Any such increased rate of Monthly Installments of Rent pursuant to this Section 4.4 shall remain in effect until
further written notification to Tenant pursuant hereto. 
 4.5    When the above mentioned actual determination of
Tenant’s liability for Expenses, Insurance Costs and/or Taxes is made for any Lease Year and when Tenant is so notified in writing, then: 

4.5.1    If the total additional rent Tenant actually paid pursuant to Section 4.3 on account of Expenses, Insurance
Costs and/or Taxes for the Lease Year is less than Tenant’s liability for Expenses, Insurance Costs and/or Taxes, then Tenant shall pay such deficiency to Landlord as additional rent in one lump sum within thirty (30) days of receipt of
Landlord’s bill therefor; and 
 4.5.2    If the total additional rent Tenant actually paid pursuant to
Section 4.3 on account of Expenses, Insurance Costs and/or Taxes for the Lease Year is more than Tenant’s liability for Expenses, Insurance Costs and/or Taxes, then Landlord shall credit the difference against the then next due payments to
be made by Tenant under this Article 4, or, if the Lease has terminated, refund the difference in cash. Tenant shall not be entitled to a credit by reason of actual Expenses and/or Taxes and/or Insurance Costs in any Lease Year being less than
Expenses and/or Taxes and/or Insurance Costs in the Base Year (Expenses and/or Taxes and/or Insurance). 

  

					
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 4.6    If the Commencement Date is other than January 1 or if the
Termination Date is other than December 31, Tenant’s liability for Expenses, Insurance Costs and Taxes for the Lease Year in which said Date occurs shall be prorated based upon a three hundred sixty-five (365) day year. 

5.    SECURITY DEPOSIT. 

5.1    Tenant shall deposit the Security Deposit with Landlord upon the execution of this Lease. Said sum shall be held by
Landlord as security for the faithful performance by Tenant of all the terms, covenants and conditions of this Lease to be kept and performed by Tenant and not as an advance rental deposit or as a measure of Landlord’s damage in case of
Tenant’s default. If Tenant defaults with respect to any provision of this Lease, Landlord may use any part of the Security Deposit for the payment of any rent or any other sum in default, or for the payment of any amount which Landlord may
spend or become obligated to spend by reason of Tenant’s default, or to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant’s default. If any portion is so used, Tenant shall within ten
(10) days after written demand therefor, deposit with Landlord an amount sufficient to restore the Security Deposit to its original amount and Tenant’s failure to do so shall be a material breach of this Lease. Except to such extent, if
any, as shall be required by law, Landlord shall not be required to keep the Security Deposit separate from its general funds, and Tenant shall not be entitled to interest on such deposit. If Tenant shall fully and faithfully perform every provision
of this Lease to be performed by it, the Security Deposit or any balance thereof shall be returned to Tenant at such time after termination of this Lease when Landlord shall have determined that all of Tenant’s obligations under this Lease have
been fulfilled. 
 5.2    The required Security Deposit shall be provided in cash or in the form of an Irrevocable
Standby Letter of Credit in favor of Landlord (the “letter of credit”) in the amount set forth on the Reference Pages. Under any circumstance under which Landlord is entitled the use of all or a part of the Security Deposit, then,
Landlord, in addition to all other rights and remedies provided under the Lease, shall have the right to draw down all or a portion of the full balance of the letter of credit and retain the proceeds. The following terms and conditions shall govern
the letter of credit: 
 5.2.1    Upon expiration of the Term, the letter of credit shall be returned to Tenant when
Tenant is entitled to return of its Security Deposit. 
 5.2.2    The letter of credit shall be in favor of Landlord,
shall be issued by a commercial bank reasonably acceptable to Landlord, shall comply with all of the terms and conditions of this Section 5.2 and shall otherwise be in form reasonably acceptable to Landlord. Without limiting the generality of
the foregoing, (i) the letter of credit must provide for all notices to the beneficiary to be sent simultaneously to up to two (2) addressees specified in the letter of credit, and (ii) there shall be no requirement of signature
guaranty for draws, assignments or other documentary action to be taken by the beneficiary. If, at any time while the letter of credit is outstanding, (i) the issuing bank is declared insolvent or taken into receivership by the Federal Deposit
Insurance Corporation or any other governmental agency, or is closed for any reason, or (ii) Landlord reasonably believes that the issuing bank may be or become insolvent or otherwise unable to meet its obligations, then, not later than thirty
(30) days after written notice from Landlord, Tenant shall cause the existing letter of credit to be replaced by a new letter of credit issued by another commercial bank reasonably acceptable to Landlord, with such new letter of credit to
comply with all of the terms and conditions of this Section 5.2. If Tenant fails to deliver an acceptable replacement letter of credit within such 30 day period, Landlord shall have the right to present the existing letter of credit to the
issuing bank for payment, and the entire sum so obtained shall be paid to Landlord, to be held by Landlord until Tenant would otherwise be entitled to the return of the letter of credit, and to be retained by Landlord if a default occurs. 

  

					
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 5.2.3    The initial letter of credit shall have an expiration date not
earlier than fifteen (15) months after the Commencement Date. A draft of the form of letter of credit must be submitted to Landlord for its approval prior to issuance. 

5.2.4    The letter of credit or any replacement letter of credit shall be irrevocable for the term thereof and shall
automatically renew on a year to year basis until a period ending not earlier than 45 days after the Termination Date (“End Date”) without any action whatsoever on the part of Landlord; provided that the issuing bank shall
have the right not to renew the letter of credit by giving written notice to Landlord not less than sixty (60) days prior to the expiration of the then current term of the letter of credit that it does not intend to renew the letter of credit.
Tenant understands that the election by the issuing bank not to renew the letter of credit shall not, in any event, diminish the obligation of Tenant to maintain such an irrevocable letter of credit in favor of Landlord through such date. 

5.2.5    Landlord, or its then managing agent, shall have the right from time to time to make one or more draws on the
letter of credit at any time that Landlord has the right to use all or a part of the Security Deposit pursuant to Article 5 of this Lease, and the proceeds may be applied as permitted under said Article 5. The letter of credit must state that it can
be presented for payment at the office of the issuer or an approved correspondent in the metropolitan area in which the Building is located. Funds may be drawn down on the letter of credit upon presentation to the issuing or corresponding bank of
Landlord’s (or Landlord’s then managing agent’s) certificate stating as follows: 
 “Beneficiary is entitled to draw on
this credit pursuant to that certain Lease dated for reference                      between 321 SUMMER STREET LLC, a Delaware limited liability
company, as Landlord and                     , a
                    , as Tenant, as amended from time to time.” 

It is understood that if Landlord or its managing agent be a corporation, partnership or other entity, then such statement shall be signed by an officer (if a
corporation), a general partner (if a partnership), or any authorized party (if another entity). 
 5.2.6    Tenant
acknowledges and agrees (and the letter of credit shall so state) that the letter of credit shall be honored by the issuing bank without inquiry as to the truth of the statements set forth in such draw request and regardless of whether the Tenant
disputes the content of such statement. 
 5.2.7    In the event of a transfer of Landlord’s interest in the
Premises, Landlord shall have the right to transfer the letter of credit to the transferee and Tenant shall take whatever action and pay any bank fees necessary to effectuate such transfer and thereupon the Landlord shall, without any further
agreement between the parties, be released by Tenant from all liability therefor, and it is agreed that the provisions hereof shall apply to every transfer or assignment of said letter of credit to a new landlord. 

5.2.8    Without limiting the generality of the foregoing, if the letter of credit expires earlier than the End Date, or
the issuing bank notifies Landlord that it will not renew the letter of credit, Landlord shall accept a renewal thereof or substitute letter credit (such renewal or substitute letter of credit to be in effect not later than thirty (30) days
prior to the expiration of the expiring letter of credit), irrevocable and automatically renewable as above provided to the End Date upon the same terms as the expiring letter of credit or upon such other terms as may be acceptable to Landlord.
However, if (i) the letter of credit is not timely renewed, or (ii) a substitute letter of credit, complying with all of the terms and conditions of this Section is not timely received, then Landlord may present the expiring letter of

  

					
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credit to the issuing bank, and the entire sum so obtained shall be paid to Landlord, to be held by Landlord in accordance with Article 5 of the Lease. Notwithstanding the foregoing, Landlord
shall be entitled to receive from Tenant a fee in an amount not to exceed $500.00 for attorneys’ fees incurred in connection with the review of any proposed substitute letter of credit pursuant to this subparagraph. 

5.2.9    Provided that (i) no uncured monetary default exists as of the date that is twenty-four (24) full
calendar months after the Rent Commencement Date (the “Reduction Date”), and (ii) in the twelve (12) month period preceding the Reduction Date not more than one (1) monetary default has occurred, whether or not cured,
then, as of the Reduction Date, Landlord shall permit the amount of the letter of credit to be reduced to (or a replacement letter of credit may be issued in the amount of) $86,406.50. If Tenant is unable to satisfy any of the foregoing conditions
as of the Reduction Date (whether the initial or any amended Reduction Date), then (i) the Reduction Date shall be amended to be twelve (12) months after the then current Reduction Date, and (ii) the reference to 24 full calendar
months after the Rent Commencement Date shall be deemed to refer to the 24 full calendar months prior to the Reduction Date, provided in all events such amendment of the Reduction Date and the reduction of the amount of the letter of credit shall be
a one-time reduction. 
 6.    ALTERATIONS. 

6.1    Except for those, if any, specifically provided for in Exhibit B to this Lease, Tenant
shall not make or suffer to be made any alterations, additions, or improvements, including, but not limited to, the attachment of any fixtures or equipment in, on, or to the Premises or any part thereof or the making of any improvements as required
by Article 7, without the prior written consent of Landlord. When applying for such consent, Tenant shall, if requested by Landlord, furnish complete plans and specifications for such alterations, additions and improvements. Landlord’s consent
shall not be unreasonably withheld, conditioned or delayed and Tenant shall not be required to furnish complete plans and specifications with respect to alterations which (i) are not structural in nature, (ii) are not visible from the
exterior of the Building, (iii) do not affect or require modification of the Building’s electrical, mechanical, plumbing, HVAC or other systems, and (iv) in aggregate do not cost more than $7.00 per rentable square foot of that
portion of the Premises affected by the alterations in question. 
 6.2    In the event Landlord consents to the making
of any such alteration, addition or improvement by Tenant, the same shall be made by using either Landlord’s contractor or a contractor reasonably approved by Landlord, in either event at Tenant’s sole cost and expense. If Tenant shall
employ any contractor other than Landlord’s contractor and such other contractor or any subcontractor of such other contractor shall employ any non-union labor or supplier, Tenant shall be responsible for
and hold Landlord harmless from any and all delays, damages and extra costs suffered by Landlord as a result of any dispute with any labor unions concerning the wage, hours, terms or conditions of the employment of any such labor. In any event, for
any work that involves mechanical, electrical, plumbing or sprinkler trades, Landlord may charge Tenant a construction management fee not to exceed two and one-half percent (2.5%) of the cost of any such work
that involves material alterations to cover its overhead as it relates to such proposed work, plus third-party costs actually incurred by Landlord in connection with the proposed work and the design thereof, with all such amounts being due ten
(10) business days after Landlord’s demand. 
 6.3    All alterations, additions or improvements proposed by
Tenant shall be constructed in accordance with all Regulations and with Landlord’s Building construction standards (if any) from time to time to the extent applicable (which standards shall be made available to Tenant by Landlord’s
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prior to construction, provide the additional insurance required under Article 11 in such case, and also all such assurances to Landlord as Landlord shall reasonably require to assure payment of
the costs thereof, including but not limited to, notices of non-responsibility, waivers of lien, surety company performance bonds and funded construction escrows and to protect Landlord and the Building and
appurtenant land against any loss from any mechanic’s, materialmen’s or other liens. Tenant shall pay in addition to any sums due pursuant to Article 4, any increase in real estate taxes attributable to any such alteration, addition
or improvement for so long, during the Term, as such increase is ascertainable; at Landlord’s election said sums shall be paid in the same way as sums due under Article 4. Landlord may, as a condition to its consent to any particular
alterations or improvements, require Tenant to deposit with Landlord the amount reasonably estimated by Landlord as sufficient to cover the cost of removing such alterations or improvements and restoring the Premises, to the extent required under
Section 26.2. 
 7.    REPAIR. 

7.1    Landlord shall have no obligation to alter, remodel, improve, repair, decorate or paint the Premises, except as
specified in Exhibit B attached to this Lease and except that Landlord shall repair and maintain the structural portions of the Building, including the basic plumbing, air conditioning, heating and electrical systems
installed or furnished by Landlord. By taking possession of the Premises, Tenant accepts them as being in good order, condition and repair and in the condition in which Landlord is obligated to deliver them, except for latent defects or as set forth
in the punch list to be delivered pursuant to Section 2.1. It is hereby understood and agreed that no representations respecting the condition of the Premises or the Building have been made by Landlord to Tenant, except as specifically set
forth in this Lease. 
 7.2    Tenant shall, at all times during the Term, keep the Premises in good condition and
repair excepting damage by fire, or other casualty, and in compliance with all Regulations promptly complying with all governmental orders and directives for the correction, prevention and abatement of any violations or nuisances in or upon, or
connected with, the Premises, all at Tenant’s sole expense. Repair and maintenance work shall be undertaken in compliance with Landlord’s Building construction standards (if any) from time to time to the extent applicable (which standards
shall be made available to Tenant by Landlord’s Building manager upon request). 
 7.3    Landlord shall not be
liable for any failure to make any repairs or to perform any maintenance unless such failure shall persist for an unreasonable time after written notice of the need of such repairs or maintenance is given to Landlord by Tenant; provided
however, if Landlord fails to make any repairs that materially impair Tenant’s ability to make full use of the Premises within twenty-five (25) days after written notice of the need for such repairs is given to Landlord by Tenant and
it is within Landlord’s control to make such repairs, Tenant shall be entitled to an abatement of Annual Rent until such repairs are completed by Landlord in proportion to the extent that Tenant’s ability to use the Premises is materially
impaired. 
 7.4    Except as provided in Section 7.3 or Article 22, there shall be no abatement of rent and no
liability of Landlord by reason of any injury to or interference with Tenant’s business arising from the making of any repairs, alterations or improvements in or to any portion of the Building or the Premises or to fixtures, appurtenances and
equipment in the Building. Except to the extent, if any, prohibited by law, Tenant waives the right to make repairs at Landlord’s expense under any law, statute or ordinance now or hereafter in effect. 

8.    LIENS. Tenant shall keep the Premises, the Building and appurtenant land and Tenant’s leasehold interest
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performed, furnished, or contracted for by Tenant, or obligations incurred by Tenant. In the event that Tenant fails, within ten (10) days following the imposition of any such lien, to
either cause the same to be released of record or provide Landlord with insurance against the same issued by a major title insurance company or such other protection against the same as Landlord shall accept (such failure to constitute an Event of
Default), Landlord shall have the right to cause the same to be released by such means as it shall deem proper, including payment of the claim giving rise to such lien. All such sums paid by Landlord and all expenses incurred by it in connection
therewith shall be payable to it by Tenant within five (5) days of Landlord’s demand . 
 9.    ASSIGNMENT AND SUBLETTING.

 9.1    Except as otherwise provided by this Section 9, Tenant shall not have the right to assign or pledge
this Lease or to sublet the whole or any part of the Premises whether voluntarily or by operation of law, or permit the use or occupancy of the Premises by anyone other than Tenant, and shall not make, suffer or permit such assignment, subleasing or
occupancy without the prior written consent of Landlord, such consent not to be unreasonably withheld, conditioned or delayed and said restrictions shall be binding upon any and all assignees of this Lease and subtenants of the Premises. In the
event Tenant desires to sublet, or permit such occupancy of, the Premises, or any portion thereof, or assign this Lease, Tenant shall give written notice thereof to Landlord at least twenty (20) days but no more than forty-five (45) days
prior to the proposed commencement date of such subletting or assignment, which notice shall set forth the name of the proposed subtenant or assignee, the relevant terms of any sublease or assignment and copies of financial reports and other
relevant financial information of the proposed subtenant or assignee reasonably requested by Landlord. 

9.2    Notwithstanding any assignment or subletting, permitted or otherwise, Tenant shall at all times remain directly,
primarily and fully responsible and liable for the payment of the rent specified in this Lease and for compliance with all of its other obligations under the terms, provisions and covenants of this Lease. Upon the occurrence of an Event of Default,
if the Premises or any part of them are then assigned or sublet, Landlord, in addition to any other remedies provided in this Lease or provided by law, may, at its option, collect directly from such assignee or subtenant all rents due and becoming
due to Tenant under such assignment or sublease and apply such rent against any sums due to Landlord from Tenant under this Lease, and no such collection shall be construed to constitute a novation or release of Tenant from the further performance
of Tenant’s obligations under this Lease. 
 9.3    In addition to Landlord’s right to approve of any
subtenant or assignee, Landlord shall have the option, in its sole discretion, in the event of any proposed subletting of more than twenty-five percent (25%) of the Premises for the remainder of the Term or assignment, to terminate this Lease, or in
the case of a proposed subletting of less than the entire Premises (but more than twenty-five percent (25%) of the Premises for the remainder of the Term), to recapture the portion of the Premises to be sublet, as of the date the subletting or
assignment is to be effective. The option shall be exercised, if at all, by Landlord giving Tenant written notice given by Landlord to Tenant within twenty (20) days following Landlord’s receipt of Tenant’s written notice as required
above. However, if Tenant notifies Landlord, within five (5) days after receipt of Landlord’s termination notice, that Tenant is rescinding its proposed assignment or sublease, the termination notice shall be void and this Lease shall
continue in full force and effect. If this Lease shall be terminated with respect to the entire Premises pursuant to this Section, the Term of this Lease shall end on the date stated in Tenant’s notice as the effective date of the sublease or
assignment as if that date had been originally fixed in this Lease for the expiration of the Term. If Landlord recaptures under this Section only a portion of the Premises, the rent to be paid from time to time during the unexpired Term shall abate
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remaining portion of the Premises shall be less than that of the Premises as of the date immediately prior to such recapture. Tenant shall, at Tenant’s own cost and expense, discharge in
full any outstanding commission obligation which may be due and owing as a result of any proposed assignment or subletting, whether or not the Premises are recaptured pursuant to this Section 9.3 and rented by Landlord to the proposed tenant or
any other tenant. 
 9.4    In the event that Tenant sells, sublets, assigns or transfers this Lease, Tenant shall pay
to Landlord as additional rent an amount equal to fifty percent (50%) of any Increased Rent (as defined below), less the Costs Component (as defined below), when and as such Increased Rent is received by Tenant. As used in this Section,
“Increased Rent” shall mean the excess of (i) all rent and other consideration which Tenant is entitled to receive by reason of any sale, sublease, assignment or other transfer of this Lease, over (ii) the rent otherwise
payable by Tenant under this Lease at such time. For purposes of the foregoing, any consideration received by Tenant in form other than cash shall be valued at its fair market value as determined by Landlord in good faith. The “Costs
Component” is that amount which, if paid monthly, would fully amortize on a straight-line basis, over the entire period for which Tenant is to receive Increased Rent, the actual costs incurred by Tenant for leasing commissions, legal fees
and tenant improvements in connection with such sublease, assignment or other transfer. 
 9.5    Notwithstanding any
other provision hereof, it shall be considered reasonable for Landlord to withhold its consent to any assignment of this Lease or sublease of any portion of the Premises if at the time of either Tenant’s notice of the proposed assignment or
sublease or the proposed commencement date thereof, there shall exist any uncured default of Tenant or matter which will become a default of Tenant with passage of time unless cured, or if the proposed assignee or sublessee is an entity:
(a) with which Landlord is already in active negotiation (trading proposals within the last 6 months); (b) is already an occupant of the Building unless Landlord is unable to provide the amount of space required by such occupant;
(c) is a governmental agency; (d) is incompatible with the character of occupancy of the Building as determined by Landlord in its reasonable discretion; (e) with which the payment for the sublease or assignment is determined in whole
or in part based upon its net income or profits; or (f) would subject the Premises to a use which would: (i) involve increased wear upon the Building; (ii) violate any exclusive right granted to another tenant of the Building;
(iii) require any addition to or modification of the Premises or the Building in order to comply with building code or other governmental requirements; or, (iv) involve a violation of Section 1.2; or (v) shall, in Landlord’s
reasonable opinion, cause the Building or any part thereof to be in material non-compliance with Landlord’s sustainability practices and/or the “green building” certification or rating obtained,
or in the process of being obtained by Landlord for the Building. Tenant expressly agrees that for the purposes of any statutory or other requirement of reasonableness on the part of Landlord, Landlord’s refusal to consent to any assignment or
sublease for any of the reasons described in this Section 9.5, shall be conclusively deemed to be reasonable. 

9.6    Upon any request to assign or sublet, Tenant will pay to Landlord the Assignment/Subletting Fee plus, on demand, a
sum equal to all of Landlord’s costs, including reasonable and actual attorney’s fees, incurred in investigating and considering any proposed or purported assignment or pledge of this Lease or sublease of any of the Premises, regardless of
whether Landlord shall consent to, refuse consent, or determine that Landlord’s consent is not required for, such assignment, pledge or sublease, which total sum (including the Assignment/Subletting Fee) shall not exceed $5,000. Any purported
sale, assignment, mortgage, transfer of this Lease or subletting which does not comply with the provisions of this Article 9 shall be void. 

9.7    If Tenant is a corporation, limited liability company, partnership or trust, any transfer or transfers of or change
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voting shares of the corporation or limited liability company, the general partnership interests in the partnership or the identity of the persons or entities controlling the activities of such
partnership or trust resulting in the persons or entities owning or controlling a majority of such shares, partnership interests or activities of such partnership or trust at the beginning of such period no longer having such ownership or control
shall be regarded as equivalent to an assignment of this Lease to the persons or entities acquiring such ownership or control and shall be subject to all the provisions of this Article 9 to the same extent and for all intents and purposes as though
such an assignment; provided however, the sale or transfer of a controlling interest of Tenant’s capital stock in a transaction or series of related transaction the intent of which is to finance Tenant’s ongoing business and
operations and the acquirer(s) of which are professional investors who typically invest in companies of the same type and kind as Tenant shall not be deemed an assignment or sublease hereunder. 

9.8    Notwithstanding anything herein to the contrary, Tenant may, without the requirement of obtaining Landlord’s
consent, assign this Lease or sublease any portion of the Premises to any entity which controls, is controlled by or under common control with Tenant (an “Affiliate”) or assign this Lease to any entity with which Tenant may merge or
consolidate or to which Tenant may sell all or substantially all of its assets or equity interests (each, a “Transfer”), provided that all of the following conditions are satisfied: (a) there must not be an uncured Event
of Default at the time of the Transfer; (b) the successor entity (or Tenant if Tenant is the surviving entity) shall have a net worth following the Transfer that is equal to or better than the net worth of Tenant during the 12 months
immediately prior to the Transfer; and (c) Tenant must give Landlord written notice at least ten (10) business days before such Transfer; provided, however, that if the Transfer is subject to a nondisclosure or confidentiality
agreement, then Tenant will notify Landlord within five (5) business days following the Transfer. A Transfer that satisfies all of such conditions is a “Permitted Transfer.” Tenant’s notice to Landlord shall include
information and documentation reasonably evidencing that the Transfer qualifies as a Permitted Transfer hereunder and that each of the above conditions has been satisfied. If requested by Landlord, Tenant’s successor shall sign and deliver to
Landlord a commercially reasonable form of assumption agreement.. Any right of Landlord to terminate this Lease or recapture the Premises, as set forth in Section 9.3, or receive any amounts set forth in Section 9.5 hereunder shall not
apply to a Permitted Transfer. 
 10.    INDEMNIFICATION. None of the Landlord Entities shall be liable and Tenant
hereby waives all claims against them for any damage to any property or any injury to any person in or about the Premises or the Building by or from any cause whatsoever (including without limiting the foregoing, rain or water leakage of any
character from the roof, windows, walls, basement, pipes, plumbing works or appliances, the Building not being in good condition or repair, gas, fire, oil, electricity or theft), except to the extent prohibited by law or caused by or arising from
the gross negligence or willful misconduct of Landlord or its agents, employees or contractors. Tenant shall protect, indemnify and hold the Landlord Entities harmless from and against any and all loss, claims, liability or costs (including court
costs and attorney’s fees) incurred by reason of (a) any damage to any property (including but not limited to property of any Landlord Entity) or any injury (including but not limited to death) to any person occurring in, on or about the
Premises or the Building to the extent that such injury or damage shall be caused by or arise from any actual or alleged act, neglect, fault, or omission by or of Tenant or any Tenant Entity to meet any standards imposed by any duty with respect to
the injury or damage; (b) the conduct or management of any work or thing whatsoever done by the Tenant in or about the Premises or from transactions of the Tenant concerning the Premises; (c) Tenant’s actual or asserted failure to
comply with any and all Regulations applicable to the condition or use of the Premises or its occupancy; or (d) any breach or default on the part of Tenant in the performance of any covenant or agreement on the part of the Tenant to be
performed pursuant to this Lease. The provisions of this Article shall survive the termination of this Lease with respect to any claims or liability accruing prior to such termination. 

  

					
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 11.    INSURANCE. 

11.1    Tenant shall keep in force throughout the Term: (a) a Commercial General Liability insurance policy or
policies to protect the Landlord Entities against any liability to the public or to any invitee of Tenant or a Landlord Entity incidental to the use of or resulting from any accident occurring in or upon the Premises with a limit of not less than
$1,000,000.00 per occurrence and not less than $2,000,000.00 in the annual aggregate, or such larger amount as Landlord may prudently require from time to time, covering bodily injury and property damage liability and $1,000,000 products/completed
operations aggregate; (b) Business Auto Liability covering owned, non-owned and hired vehicles with a limit of not less than $1,000,000 per accident; (c) Worker’s Compensation Insurance with
limits as required by statute and Employers Liability with limits of $500,000 each accident, $500,000 disease policy limit, $500,000 disease—each employee; (d) All Risk or Special Form coverage protecting Tenant against loss of or damage
to Tenant’s alterations, additions, improvements, carpeting, floor coverings, panelings, decorations, fixtures, inventory and other business personal property situated in or about the Premises to the full replacement value of the property so
insured; and, (e) Business Interruption Insurance with limit of liability representing loss of at least approximately six (6) months of income. 

11.2    The aforesaid policies shall (a) be provided at Tenant’s expense; (b) name the Landlord Entities as
additional insureds (General Liability) and loss payee (Property—Special Form); (c) be issued by an insurance company with a minimum Best’s rating of “A-:VII” during the Term; and
(d) provide that said insurance shall not be canceled unless thirty (30) days prior written notice (ten days for non-payment of premium) shall have been given to Landlord; a certificate of Liability
insurance on ACORD Form 25 and a certificate of Property insurance on ACORD Form 28 shall be delivered to Landlord by Tenant upon the Commencement Date and at least thirty (30) days prior to each renewal of said insurance. 

11.3    Whenever Tenant shall undertake any alterations, additions or improvements in, to or about the Premises
(“Work”) the aforesaid insurance protection must extend to and include injuries to persons and damage to property arising in connection with such Work, without limitation including liability under any applicable structural work act,
and such other insurance as Landlord shall require; and the policies of or certificates evidencing such insurance must be delivered to Landlord prior to the commencement of any such Work. 

12.    WAIVER OF SUBROGATION. Tenant and Landlord hereby mutually waive their respective rights of recovery against
each other for any loss insured (or required to be insured pursuant to this Lease) by fire, extended coverage, All Risks or other insurance now or hereafter existing for the benefit of the respective party but only to the extent of the net insurance
proceeds payable under such policies. Each party shall obtain any special endorsements required by their insurer to evidence compliance with the aforementioned waiver. 

13.    SERVICES AND UTILITIES. 

13.1    Subject to the other provisions of this Lease, Landlord agrees to furnish to the Premises during Building Business
Hours (specified on the Reference Pages) on generally recognized business days (but exclusive in any event of Sundays and national and local legal holidays), the following services and utilities subject to the rules and regulations of the Building
prescribed from time to time: (a) water suitable for normal office use of the Premises; (b) heat and air ’for the use and occupation of the Premises during Building Business Hours at levels commensurate with other Class A office
buildings in Boston, MA; (c) cleaning and janitorial service commensurate with other Class A office buildings in Boston, MA; (d) elevator service by non-attended automatic elevators, if
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Premises electricity for lighting, convenience outlets and other normal office use. Landlord, at Landlord’s cost and expense, may install and shall have access to the Premises to monitor a
separate meter (or submeter) to determine the actual use of any utility in the Premises or any shared common area and may make available and share actual whole-project energy and water usage data as necessary to maintain the Building’s
“green building” certification. If Tenant pays for utilities directly to the utility company(ies), then, upon request and at no cost to Tenant, Tenant shall provide monthly utility usage to Landlord in electronic or paper format or provide
permission for Landlord to request information regarding Tenant’s utility usage directly from the utility company. To the extent that Tenant is not billed directly by a public utility, Tenant shall pay, within thirty (30) days of
Landlord’s demand, for all electricity used by Tenant in the Premises as determined by submeters serving the Premises. The charge shall be at the rates charged for such services by the local public utility. In the absence of Landlord’s
gross negligence or willful misconduct, Landlord shall not be liable for, and Tenant shall not be entitled to, any abatement or reduction of rental by reason of Landlord’s failure to furnish any of the foregoing, unless such failure shall
persist for ten (10) days or more after written notice of such failure is given to Landlord by Tenant and provided further that Landlord shall not be liable when such failure is caused by accident, breakage, repairs, labor disputes of
any character, energy usage restrictions or by any other cause, similar or dissimilar, beyond the reasonable control of Landlord. Landlord shall use reasonable efforts to remedy any interruption in the furnishing of services and utilities. 

With respect to electricity, there is one meter serving the entire fourth (4th) floor and Tenant shall
pay 81.79% (i.e., 8,499/10,368) (“Tenant’s Electrical Share”) of the costs of the electrical consumption for the fourth (4th) floor. Any submetering configuration that
may be rendered necessary due to Tenant’s alterations to the Premises shall be performed by Tenant at Tenant’s expense. If at any time during the Term the electrical submeter for the Premises is not operational, then Landlord may charge
Tenant for Tenant’s estimated electricity usage in the Premises at Landlord’s then standard electrical rate (which is currently $2.00 per RSF per year). Landlord shall not be liable in any way to Tenant for any failure or defect in the
supply or character of electrical energy furnished to the Premises by reason of any requirement, act or omission of the public utility serving the Building with electricity unless due to the act or omission of Landlord. Tenant’s use of
electrical energy in the Premises shall not at any time exceed the capacity of any of the electrical conductors and equipment in or otherwise serving the Premises. In order to ensure that such capacity is not exceeded and to avert possible adverse
effect upon the Building electrical services, Tenant shall give notice to Landlord and obtain Landlord’s prior written consent whenever Tenant shall connect to the Building electrical distribution system any major fixtures, appliances or
equipment, except for standard office equipment, such as computers, copiers, printers, and server equipment. Any additional feeders or risers to supply Tenant’s electrical requirements in addition to those originally installed and all other
equipment proper and necessary in connection with such feeders or risers, shall be installed by Landlord upon Tenant’s request, at the sole cost and expense of Tenant, provided that such additional feeders and risers are permissible
under applicable laws and insurance regulations and the installation of such feeders or risers will not cause permanent damage or injury to the Building or cause or create a dangerous condition or unreasonably interfere with other tenants of the
Building. Tenant agrees that it will not make any significant alteration or material addition to the electrical equipment and/or appliances in the Premises without the prior written consent of Landlord in each instance first obtained, which consent
will not be unreasonably withheld or delayed, and will promptly advise Landlord of any alteration or addition to such electrical equipment and/or appliances. Tenant, at Tenant’s expense, shall purchase, install and replace all light fixtures,
bulbs, tubes, lamps, lenses, globes, ballasts and switches used in the Premises. 
 13.2    Should Tenant require any
additional work or service, as described above, including services furnished outside ordinary business hours specified above, Landlord may, on terms to be agreed, 

  

					
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upon reasonable advance notice by Tenant, furnish such additional service and Tenant agrees to pay Landlord such charges as may be agreed upon, including any tax imposed thereon, but in no event
at a charge less than Landlord’s actual cost plus overhead for such additional service and, where appropriate, a reasonable allowance for depreciation of any systems being used to provide such service. The current charge for after-hours HVAC
service, which is subject to change at any time, is specified on the Reference Pages. 
 13.3    Wherever
heat-generating machines or equipment are used by Tenant in the Premises which affect the temperature otherwise maintained by the air conditioning system or Tenant allows occupancy of the Premises by more persons than the heating and air
conditioning system is designed to accommodate, in either event whether with or without Landlord’s approval, Landlord reserves the right to install supplementary heating and/or air conditioning units in or for the benefit of the Premises and
the cost thereof, including the cost of installation and the cost of operations and maintenance, shall be paid by Tenant to Landlord within five (5) days of Landlord’s demand. In addition, if applicable, Landlord may install at its sole
expense and shall have access to the Premises to monitor a separate meter (or submeter) to determine the actual use of any utility in the Premises or any shared common area and may make available and share actual whole-project energy and water usage
data as necessary to maintain the Building’s “green building” certification, if any. If there is no meter or submeter in the Premises or if Tenant is billed directly by a public utility, then, upon request, Tenant shall provide
monthly utility usage to Landlord in electronic or paper format or provide permission for Landlord to request information regarding Tenant’s utility usage directly from the utility company. 

13.4    Tenant will not, without the written consent of Landlord, use any apparatus or device in the Premises, including
but not limited to, electronic data processing machines and machines using current in excess of 2000 watts and/or 20 amps or 120 volts, which will in any way increase the amount of electricity or water usually furnished or supplied for use of the
Premises for normal office use, nor connect with electric current, except through existing electrical outlets in the Premises, or water pipes, any apparatus or device for the purposes of using electrical current or water. If Tenant shall require
water or electric current in excess of that usually furnished or supplied for use of the Premises as normal office use, Tenant shall procure the prior written consent of Landlord for the use thereof, which Landlord may refuse, and if Landlord does
consent, Landlord may cause a water meter or electric current meter to be installed so as to measure the amount of such excess water and electric current. The cost of any such meters shall be paid for by Tenant. Tenant agrees to pay to Landlord
within five (5) days of Landlord’s demand , the cost of all such excess water and electric current consumed (as shown by said meters, if any, or, if none, as reasonably estimated by Landlord) at the rates charged for such services by the
local public utility or agency, as the case may be, furnishing the same, plus any additional expense incurred in keeping account of the water and electric current so consumed. 

13.5    Tenant will not, without the written consent of Landlord, contract with a utility provider to service the Premises
with any utility, including, but not limited to, telecommunications, electricity, water, sewer or gas, which is not previously providing such service to other tenants in the Building. Subject to Landlord’s reasonable rules and regulations and
the provisions of Articles 6 and 26, Tenant shall be entitled to the use of wiring (“Communications Wiring”) from the existing telecommunications nexus in the Building to the Premises, sufficient for normal general office use of the
Premises. Tenant shall not install any additional Communications Wiring, nor remove any Communications Wiring, without in each instance obtaining the prior written consent of Landlord, which consent may be withheld in Landlord’s sole and
absolute discretion. Landlord’s shall in no event be liable for disruption in any service obtained by Tenant pursuant to this paragraph. 

  

					
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 13.6    Tenant covenants and agrees to (a) comply with applicable
law regarding the collection, sorting, separation, and recycling of garbage, waste products, trash and other refuse at the Building (collectively, “trash”) and (b) to sort and separate its trash into separate recycling
containers as required by law, or furnished by Landlord and located in the Premises pursuant to Landlord’s recycling policy for the Building. Landlord reserves the right to refuse to collect or accept from Tenant any trash that is not separated
and sorted as required by law or pursuant to Landlord’s recycling policy, and to require Tenant to arrange for such collection at Tenant’s cost, utilizing a contractor reasonably satisfactory to Landlord. Tenant shall pay all costs,
expenses, fines, penalties or damages that may be imposed on Landlord or Tenant by reason of Tenant’s failure to comply with the provisions of this paragraph. 

14.    HOLDING OVER. Tenant shall pay Landlord for each day Tenant retains possession of the Premises or part of them
after termination of this Lease by lapse of time or otherwise at the rate (“Holdover Rate”) which shall be One Hundred Fifty Percent (150%) of the amount of the Annual Rent for the last period prior to the date of such termination
plus Tenant’s Proportionate Share of Expenses, Insurance Costs and Taxes under Article 4, prorated on a daily basis, and if such holdover lasts for more than 15 days, also pay all damages sustained by Landlord by reason of such retention.
Any such holdover shall create ’a tenancy at sufferance at the Holdover Rate. In any event, no provision of this Article 14 shall be deemed to waive Landlord’s right of reentry or any other right under this Lease or at law. 

15.    SUBORDINATION. Without the necessity of any additional document being executed by Tenant for the purpose of
effecting a subordination, this Lease shall be subject and subordinate at all times to ground or underlying leases and to the lien of any mortgages or deeds of trust now or hereafter placed on, against or affecting the Building, Landlord’s
interest or estate in the Building, or any ground or underlying lease; provided, however, that if the lessor, mortgagee, trustee, or holder of any such mortgage or deed of trust elects to have Tenant’s interest in this Lease be superior
to any such instrument, then, by notice to Tenant, this Lease shall be deemed superior, whether this Lease was executed before or after said instrument. Notwithstanding the foregoing, Tenant covenants and agrees to execute and deliver within ten
(10) days of Landlord’s request such further instruments evidencing such subordination or superiority of this Lease as may be required by Landlord. 

16.    RULES AND REGULATIONS. Tenant shall faithfully observe and comply with all the rules and regulations as set
forth in Exhibit D to this Lease and all reasonable and non-discriminatory modifications of and additions to them from time to time put into effect by Landlord. Landlord shall not be
responsible to Tenant for the non-performance by any other tenant or occupant of the Building of any such rules and regulations. 

17.    REENTRY BY LANDLORD. 

17.1    Landlord reserves and shall, upon at least 24 hours prior written notice (except in cases of emergency or for
regularly scheduled janitorial services), have the right to re-enter the Premises to inspect the same, to supply janitor service and any other service to be provided by Landlord to Tenant under this Lease, to
show said Premises to prospective purchasers or mortgagees or, in the last 12 months of the term of the Lease, to prospective tenants, and to alter, improve or repair the Premises and any portion of the Building, without abatement of rent, and may
for that purpose erect, use and maintain scaffolding, pipes, conduits and other necessary structures and open any wall, ceiling or floor in and through the Building and Premises where reasonably required by the character of the work to be performed,
provided entrance to the Premises shall not be blocked thereby, and further provided that the business of Tenant shall not be interfered with unreasonably. Landlord shall have the right at any time to change the arrangement and/or
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toilets or other public parts of the Building and to change the name, number or designation by which the Building is commonly known. In the event that Landlord damages any portion of any wall or
wall covering, ceiling, or floor or floor covering within the Premises, Landlord shall repair or replace the damaged portion to match the original as nearly as commercially reasonable but shall not be required to repair or replace more than the
portion actually damaged. Other than in cases of emergencies, Tenant shall have the right to have one of its personnel accompany Landlord’s personnel and invitees at all times during which they are on the Premises. Tenant hereby waives any
claim for damages for any injury or inconvenience to or interference with Tenant’s business, any loss of occupancy or quiet enjoyment of the Premises, and any other loss occasioned by any action of Landlord authorized by this Article 17, except
to the extent caused by Landlord’s gross negligence or willful misconduct. 
 17.2    For each of the aforesaid
purposes, Landlord shall at all times have and retain a key with which to unlock all of the doors in the Premises, excluding Tenant’s vaults and safes or special security areas (designated in advance), and Landlord shall have the right to use
any and all means which Landlord may deem proper to open said doors in an emergency to obtain entry to any portion of the Premises. As to any portion to which access cannot be had by means of a key or keys in Landlord’s possession, in cases of
emergency only, Landlord is authorized to gain access by such means as Landlord shall elect and the cost of repairing any damage occurring in doing so shall be borne by Tenant and paid to Landlord within five (5) business days of
Landlord’s demand. 
 18.    DEFAULT. 

18.1    Except as otherwise provided in Article 20, the following events shall be deemed to be “Events of
Default” under this Lease: 
 18.1.1    Tenant shall fail to pay when due any sum of money becoming due to be paid
to Landlord under this Lease, whether such sum be any installment of the rent reserved by this Lease, any other amount treated as additional rent under this Lease, or any other payment or reimbursement to Landlord required by this Lease, whether or
not treated as additional rent under this Lease, and such failure shall continue for a period of (5) business days after written notice that such payment was not made when due, but if any such notice shall be given two times, for the twelve
(12) month period commencing with the date of such notice, the failure to pay within five business days after due any additional sum of money becoming due to be paid to Landlord under this Lease during such period shall be an Event of Default,
without notice. 
 18.1.2    Tenant shall fail to comply with any term, provision or covenant of this Lease which is not
provided for in another Section of this Article and shall not cure such failure within thirty (30) days (forthwith, if the failure involves a hazardous condition) after written notice of such failure to Tenant; provided, however, that
such failure shall not be an Event of Default if such failure could not reasonably be cured during such twenty (20) day period, Tenant has commenced the cure within such twenty (20) day period and thereafter is diligently pursuing such
cure to completion, but the total aggregate cure period shall not exceed ninety (90) days. 
 18.1.3    Tenant
shall fail to vacate the Premises immediately upon termination of this Lease, by lapse of time or otherwise, or upon termination of Tenant’s right to possession only. 

18.1.4    Tenant shall become insolvent, admit in writing its inability to pay its debts generally as they become due,
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apply for or consent to the appointment of a receiver of itself or of the whole or any substantial part of its property, or file a petition or answer seeking reorganization or arrangement under
the federal bankruptcy laws, as now in effect or hereafter amended, or any other applicable law or statute of the United States or any state thereof. 

18.1.5    A court of competent jurisdiction shall enter an order, judgment or decree adjudicating Tenant bankrupt, or
appointing a receiver of Tenant, or of the whole or any substantial part of its property, without the consent of Tenant, or approving a petition filed against Tenant seeking reorganization or arrangement of Tenant under the bankruptcy laws of the
United States, as now in effect or hereafter amended, or any state thereof, and such order, judgment or decree shall not be vacated or set aside or stayed within ninety (90) days from the date of entry thereof. 

19.    REMEDIES. 

19.1    Except as otherwise provided in Article 20, upon the occurrence of any of the Events of Default described or
referred to in Article 18, Landlord shall have the option to pursue any one or more of the following remedies without any notice or demand whatsoever, concurrently or consecutively and not alternatively: 

19.1.1    Landlord may, at its election, terminate this Lease or terminate Tenant’s right to possession only, without
terminating the Lease. 
 19.1.2    Upon any termination of this Lease, whether by lapse of time or otherwise, or upon
any termination of Tenant’s right to possession without termination of this Lease, Tenant shall surrender possession and vacate the Premises immediately, and deliver possession thereof to Landlord, and Tenant hereby grants to Landlord full and
free license to enter into and upon the Premises in such event and to repossess Landlord of the Premises as of Landlord’s former estate and to expel or remove Tenant and any others who may be occupying or be within the Premises and to remove
Tenant’s signs and other evidence of tenancy and all other property of Tenant therefrom without being deemed in any manner guilty of trespass, eviction or forcible entry or detainer, and without incurring any liability for any damage resulting
therefrom, Tenant waiving any right to claim damages for such re-entry and expulsion, and without relinquishing Landlord’s right to rent or any other right given to Landlord under this Lease or by
operation of law. 
 19.1.3    Upon any termination of this Lease, whether by lapse of time or otherwise, Landlord shall
be entitled to recover as damages, all rent, including any amounts treated as additional rent under this Lease, and other sums due and payable by Tenant as of the date of termination, plus as liquidated damages and not as a penalty, an amount equal
to the sum of: (a) an amount equal to the then present value of the rent reserved in this Lease for the residue of the stated Term of this Lease including any amounts treated as additional rent under this Lease and all other sums provided in
this Lease to be paid by Tenant, minus the fair rental value of the Premises for such residue; and (b) the estimated expenses described in Section 19.1.4 relating to recovery of the Premises and for reletting itself and (c) the cost
of performing any other covenants which would have otherwise been performed by Tenant. 
 19.1.4    Upon any termination
of Tenant’s right to possession only without termination of this Lease: 
 19.1.4.1     Neither such termination
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or release Tenant, in whole or in part, from any obligation, including Tenant’s obligation to pay the rent, including any amounts treated as additional rent, under this Lease for the full
Term, and if Landlord so elects Tenant shall continue to pay to Landlord the entire amount of the rent as and when it becomes due, including any amounts treated as additional rent under this Lease, for the remainder of the Term plus any other sums
provided in this Lease to be paid by Tenant for the remainder of the Term. For the avoidance of doubt, if Landlord elects to collect the lump sum damages from Tenant pursuant to Section 19.1.3, Tenant shall have no obligation to make payments
to Landlord pursuant to this Section 19.1.4. 
 19.1.4.2     Landlord shall use commercially reasonable efforts to
relet the Premises or portions thereof to the extent required by applicable law. Landlord and Tenant agree that nevertheless Landlord shall at most be required to use only the same efforts Landlord then uses to lease premises in the Building
generally and that in any case that Landlord shall not be required to give any preference or priority to the showing or leasing of the Premises or portions thereof over any other space that Landlord may be leasing or have available and may place a
suitable prospective tenant in any such other space regardless of when such other space becomes available and that Landlord shall have the right to relet the Premises for a greater or lesser term than that remaining under this Lease, the right to
relet only a portion of the Premises, or a portion of the Premises or the entire Premises as a part of a larger area, and the right to change the character or use of the Premises. In connection with or in preparation for any reletting, Landlord may,
but shall not be required to, make reasonable repairs, alterations and additions in or to the Premises and redecorate the same, and Tenant shall pay the cost thereof, together with Landlord’s expenses of reletting, including, without
limitation, any commission incurred by Landlord, within twenty (20) days of Landlord’s demand. Landlord shall not be required to observe any instruction given by Tenant about any reletting or accept any tenant offered by Tenant unless such
offered tenant has a credit-worthiness acceptable to Landlord and leases the entire Premises upon terms and conditions including a rate of rent (after giving effect to all expenditures by Landlord for tenant improvements, broker’s commissions
and other leasing costs) all no less favorable to Landlord than as called for in this Lease, nor shall Landlord be required to make or permit any assignment or sublease for more than the current term or which Landlord would not be required to permit
under the provisions of Article 9. 
 19.1.4.3     Until such time as Landlord shall elect to terminate this Lease and
shall thereupon be entitled to recover the amounts specified in such case in Section 19.1.3, Tenant shall pay to Landlord upon demand the full amount of all rent, including any amounts treated as additional rent under this Lease and other sums
reserved in this Lease for the remaining Term, together with the costs of reasonable repairs, alterations, additions, redecorating and Landlord’s expenses of reletting and the collection of the rent accruing therefrom (including reasonable
attorney’s fees and broker’s commissions), as the same shall then be due or become due from time to time, less only such consideration as Landlord may have received from any reletting of the Premises; and Tenant agrees that Landlord may
file suits from time to time to recover any sums falling due under this Article 19 as they become due. Any proceeds of reletting by Landlord in excess of the amount then owed by Tenant to Landlord from time to time shall be credited against
Tenant’s future obligations under this Lease but shall not otherwise be refunded to Tenant or inure to Tenant’s benefit. 

19.2    Upon the occurrence of an Event of Default, Landlord may (but shall not be obligated to) cure such default at
Tenant’s sole expense. Without limiting the generality of the foregoing, Landlord may, at Landlord’s option, enter into and upon the Premises if Landlord determines in its sole discretion that Tenant is not acting within a commercially
reasonable time to maintain, repair or replace anything for which Tenant is responsible under this Lease or to otherwise effect compliance with its obligations under this Lease and correct the same, without being deemed in any manner guilty of
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entry and detainer and without incurring any liability for any damage or interruption of Tenant’s business resulting therefrom and Tenant agrees to reimburse Landlord within twenty
(20) business days of Landlord’s demand as additional rent, for any expenses which Landlord may incur in thus effecting compliance with Tenant’s obligations under this Lease, plus interest from the date of expenditure by Landlord at
the Wall Street Journal prime rate. 
 19.3    Tenant understands and agrees that in entering into this Lease, Landlord
is relying upon receipt of all the Annual Rent, Monthly Installments of Rent and additional rent to become due with respect to all the Premises originally leased hereunder over the full Initial Term of this Lease for amortization, including interest
at the Amortization Rate. For purposes hereof, the “Concession Amount” shall be defined as the aggregate of all amounts forgone or expended by Landlord as free rent under this Lease, under Exhibit B hereof
for construction allowances (excluding therefrom any amounts expended by Landlord for the Landlord’s Work, as defined in Exhibit B), and for brokers’ commissions payable by reason of this Lease. Accordingly, Tenant agrees that if
this Lease or Tenant’s right to possession of the Premises leased hereunder shall be terminated as of any date (“Default Termination Date”) prior to the expiration of the full Initial Term hereof by reason of a default of
Tenant, there shall be due and owing to Landlord as of the day prior to the Default Termination Date, as rent in addition to all other amounts owed by Tenant as of such date, the amount (“Unamortized Amount”) of the Concession
Amount determined as set forth below; provided, however, that in the event that such amounts are recovered by Landlord pursuant to any other provision of this Article 19, Landlord agrees that it shall not attempt to recover such amounts pursuant to
this Section 19.3. For the purposes hereof, the Unamortized Amount shall be determined in the same manner as the remaining principal balance of a mortgage with interest at the Amortization Rate payable in level payments over the same length of
time as from the effectuation of the Concession concerned to the end of the full Initial Term of this Lease would be determined. 

19.4    If, on account of any breach or default by Tenant in Tenant’s obligations under the terms and conditions of
this Lease, it shall become necessary or appropriate for Landlord to employ or consult with an attorney or collection agency concerning or to enforce or defend any of Landlord’s rights or remedies arising under this Lease or to collect any sums
due from Tenant, Tenant agrees to pay all costs and fees so incurred by Landlord, including, without limitation, reasonable attorneys’ fees and costs. TENANT EXPRESSLY WAIVES ANY RIGHT TO: (A) TRIAL BY JURY; AND
(B) SERVICE OF ANY NOTICE REQUIRED BY ANY PRESENT OR FUTURE LAW OR ORDINANCE APPLICABLE TO LANDLORDS OR TENANTS BUT NOT REQUIRED BY THE TERMS OF THIS LEASE. 

19.5    Pursuit of any of the foregoing remedies shall not preclude pursuit of any of the other remedies provided in this
Lease or any other remedies provided by law (all such remedies being cumulative), nor shall pursuit of any remedy provided in this Lease constitute a forfeiture or waiver of any rent due to Landlord under this Lease or of any damages accruing to
Landlord by reason of the violation of any of the terms, provisions and covenants contained in this Lease. Notwithstanding the foregoing, once Landlord has elected to recover damages from Tenant under Section 19.1.3 and has, in fact, received
such damages from Tenant, Landlord may not thereafter elect to receive damages under Section 19.1.4. 
 19.6    No
act or thing done by Landlord or its agents during the Term shall be deemed a termination of this Lease or an acceptance of the surrender of the Premises, and no agreement to terminate this Lease or accept a surrender of said Premises shall be
valid, unless in writing signed by Landlord. No waiver by Landlord of any violation or breach of any of the terms, provisions and covenants contained in this Lease shall be deemed or construed to constitute a waiver of any other violation or breach
of any of the terms, provisions and covenants contained in this Lease. Landlord’s acceptance of the payment of rental or other payments after the occurrence of an Event of Default shall not be construed as a waiver of such Event

  

					
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of Default, unless Landlord so notifies Tenant in writing. Forbearance by Landlord in enforcing one or more of the remedies provided in this Lease upon an Event of Default shall not be deemed or
construed to constitute a waiver of such Event of Default or of Landlord’s right to enforce any such remedies with respect to such Event of Default or any subsequent Event of Default. 

19.7    To secure the payment of all rentals and other sums of money becoming due from Tenant under this Lease, Landlord
shall have and Tenant grants to Landlord a first lien upon the leasehold interest of Tenant under this Lease, which lien may be enforced in equity. 

19.8    Any and all property which may be removed from the Premises by Landlord pursuant to the authority of this Lease or
of law, to which Tenant is or may be entitled, may be handled, removed and/or stored, as the case may be, by or at the direction of Landlord but at the risk, cost and expense of Tenant, and Landlord shall in no event be responsible for the value,
preservation or safekeeping thereof. Tenant shall pay to Landlord, upon demand, any and all expenses incurred in such removal and all storage charges against such property so long as the same shall be in Landlord’s possession or under
Landlord’s control. Any such property of Tenant not retaken by Tenant from storage within thirty (30) days after removal from the Premises shall, at Landlord’s option, be deemed conveyed by Tenant to Landlord under this Lease as by a
bill of sale without further payment or credit by Landlord to Tenant. 
 19.9    If more than one (1) Event of
Default occurs during the Term or any renewal thereof, Tenant’s renewal options, expansion options, purchase options and rights of first offer and/or refusal, if any are provided for in this Lease, shall be null and void. 

20.    TENANT’S BANKRUPTCY OR INSOLVENCY. 

20.1    If at any time and for so long as Tenant shall be subjected to the provisions of the United States Bankruptcy Code
or other law of the United States or any state thereof for the protection of debtors as in effect at such time (each a “Debtor’s Law”): 

20.1.1    Tenant, Tenant as
debtor-in-possession, and any trustee or receiver of Tenant’s assets (each a “Tenant’s Representative”) shall have no greater right to assume
or assign this Lease or any interest in this Lease, or to sublease any of the Premises than accorded to Tenant in Article 9, except to the extent Landlord shall be required to permit such assumption, assignment or sublease by the provisions of such
Debtor’s Law. Without limitation of the generality of the foregoing, any right of any Tenant’s Representative to assume or assign this Lease or to sublease any of the Premises shall be subject to the conditions that: 

20.1.1.1     Such Debtor’s Law shall provide to Tenant’s Representative a right of assumption of this Lease
which Tenant’s Representative shall have timely exercised and Tenant’s Representative shall have fully cured any default of Tenant under this Lease. 

20.1.1.2     Tenant’s Representative or the proposed assignee, as the case shall be, shall have deposited with
Landlord as security for the timely payment of rent an amount equal to the larger of: (a) three (3) months’ rent and other monetary charges accruing under this Lease; and (b) any sum specified in Article 5; and shall have
provided Landlord with adequate other assurance of the future performance of the obligations of the Tenant under this Lease. Without limitation, such assurances shall include, at least, in the case of assumption of this Lease, demonstration to the
satisfaction of the Landlord that Tenant’s Representative has and will continue to have sufficient unencumbered assets after the payment of all secured obligations and administrative expenses to assure Landlord that Tenant’s

  

					
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Representative will have sufficient funds to fulfill the obligations of Tenant under this Lease; and, in the case of assignment, submission of current financial statements of the proposed
assignee, audited by an independent certified public accountant reasonably acceptable to Landlord and showing a net worth and working capital in amounts determined by Landlord to be sufficient to assure the future performance by such assignee of all
of the Tenant’s obligations under this Lease. 
 20.1.1.3     The assumption or any contemplated assignment of
this Lease or subleasing any part of the Premises, as shall be the case, will not breach any provision in any other lease, mortgage, financing agreement or other agreement by which Landlord is bound. 

20.1.1.4     Landlord shall have, or would have had absent the Debtor’s Law, no right under Article 9 to refuse
consent to the proposed assignment or sublease by reason of the identity or nature of the proposed assignee or sublessee or the proposed use of the Premises concerned. 

21.    QUIET ENJOYMENT. Landlord represents and warrants that it has full right and authority to enter into this
Lease and that Tenant, while paying the rental and performing its other covenants and agreements contained in this Lease, shall peaceably and quietly have, hold and enjoy the Premises for the Term without hindrance or molestation from Landlord
subject to the terms and provisions of this Lease. Landlord shall not be liable for any interference or disturbance by other tenants or third persons, nor shall Tenant be released from any of the obligations of this Lease because of such
interference or disturbance. 
 22.    CASUALTY. 

22.1    In the event the Premises or the Building are damaged by fire or other cause and in Landlord’s reasonable
estimation such damage can be materially restored within one hundred eighty (180) days following the commencement of restoration, Landlord shall forthwith repair the same and this Lease shall remain in full force and effect, except that Tenant
shall be entitled to a proportionate abatement in rent from the date of such damage. Such abatement of rent shall be made pro rata in accordance with the extent to which the damage and the making of such repairs shall interfere with the use and
occupancy by Tenant of the Premises from time to time. Within forty-five (45) days from the date of such damage, Landlord shall notify Tenant, in writing, of Landlord’s reasonable estimation of the length of time within which material
restoration can be made, and Landlord’s determination shall be binding on Tenant. For purposes of this Lease, the Building or Premises shall be deemed “materially restored” if they are in such condition as would not prevent or
materially interfere with Tenant’s use of the Premises for the purpose for which it was being used immediately before such damage. 

22.2    If such repairs cannot, in Landlord’s reasonable estimation, be made within one hundred eighty
(180) days following the commencement of restoration, or if the damage to the Building occurs in the last year of the term of this Lease, Landlord and Tenant shall each have the option of giving the other, at any time within thirty
(30) days after Landlord’s notice of estimated restoration time, notice terminating this Lease as of the date of such damage. In the event of the giving of such notice, this Lease shall expire and all interest of the Tenant in the Premises
shall terminate as of the date of such damage as if such date had been originally fixed in this Lease for the expiration of the Term. In the event that neither Landlord nor Tenant exercises its option to terminate this Lease, then Landlord shall
repair or restore such damage, this Lease continuing in full force and effect, and the rent hereunder shall be proportionately abated as provided in Section 22.1. 

22.3    Landlord shall not be required to repair or replace any damage or loss by or from fire or other cause to any
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fixtures or any other property or improvements to the extent any of the foregoing are installed on the Premises by, or belonging to, Tenant. Any insurance which may be carried by Landlord or
Tenant against loss or damage to the Building or Premises shall be for the sole benefit of the party carrying such insurance and under its sole control. 

22.4    In the event that Landlord should fail to complete such repairs and material restoration within forty-five
(45) days after the date estimated by Landlord therefor as extended by this Section 22.4, Tenant may at its option and as its sole remedy terminate this Lease by delivering written notice to Landlord, within fifteen (15) days after
the expiration of said period of time, whereupon the Lease shall end on the date of such notice or such later date fixed in such notice as if the date of such notice was the date originally fixed in this Lease for the expiration of the Term;
provided, however, that if construction is delayed because of changes, deletions or additions in construction requested by Tenant, strikes, lockouts, casualties, Acts of God, war, material or labor shortages, government regulation or control
or other causes beyond the reasonable control of Landlord, the period for restoration, repair or rebuilding shall be extended for the amount of time Landlord is so delayed. 

22.5    Notwithstanding anything to the contrary contained in this Article: (a) Landlord shall not have any
obligation whatsoever to repair, reconstruct, or restore the Premises when the damages resulting from any casualty covered by the provisions of this Article 22 occur during the last twelve (12) months of the Term, or for which sufficient
insurance proceeds to fully cover the repair and restoration are not received by Landlord, but if Landlord determines not to repair such damages Landlord shall notify Tenant and if such damages shall render any material portion of the Premises or
common areas of Building untenantable Tenant shall have the right to terminate this Lease by notice to Landlord within fifteen (15) days after receipt of Landlord’s notice; and (b) in the event the holder of any indebtedness secured
by a mortgage or deed of trust covering the Premises or Building requires that any insurance proceeds be applied to such indebtedness, then Landlord shall have the right to terminate this Lease by delivering written notice of termination to Tenant
within fifteen (15) days after such requirement is made by any such holder, whereupon this Lease shall end on the date of such damage as if the date of such damage were the date originally fixed in this Lease for the expiration of the Term.

 22.6    In the event of any damage or destruction to the Building or Premises by any peril covered by the provisions
of this Article 22, it shall be Tenant’s responsibility to properly secure the Premises and upon notice from Landlord to remove forthwith, at its sole cost and expense, such portion of all of the property belonging to Tenant or its licensees
from such portion or all of the Building or Premises as Landlord shall request. 
 23.    EMINENT DOMAIN. If all or
any substantial part of the Premises shall be taken or appropriated by any public or quasi-public authority under the power of eminent domain, or conveyance in lieu of such appropriation, either party to this Lease shall have the right, at its
option, of giving the other, at any time within thirty (30) days after such taking, notice terminating this Lease, except that Tenant may only terminate this Lease by reason of taking or appropriation, if such taking or appropriation shall be
so substantial as to materially interfere with Tenant’s use and occupancy of the Premises. If neither party to this Lease shall so elect to terminate this Lease, the rental thereafter to be paid shall be adjusted on a fair and equitable basis
under the circumstances. In addition to the rights of Landlord above, if any substantial part of the Building shall be taken or appropriated by any public or quasi-public authority under the power of eminent domain or conveyance in lieu thereof, and
regardless of whether the Premises or any part thereof are so taken or appropriated, Landlord shall have the right, at its sole option, to terminate this Lease. Landlord shall be entitled to any and all income, rent, award, or any interest
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quasi-public use or purpose, and Tenant hereby assigns to Landlord any interest it may have in or claim to all or any part of such sums, other than any separate award which may be made with
respect to Tenant’s trade fixtures and moving expenses; Tenant shall make no claim for the value of any unexpired Term. 

24.    SALE BY LANDLORD. In event of a sale or conveyance by Landlord of the Building, the same shall operate to
release Landlord from any future liability upon any of the covenants or conditions, expressed or implied, contained in this Lease in favor of Tenant, and in such event Tenant agrees to look solely to the responsibility of the successor in interest
of Landlord in and to this Lease, except that Landlord shall not be released from its obligation to return the security deposit required under this Lease unless and until Landlord transfers such security deposit to such assignee or transferee of the
Lease. Except as set forth in this Article 24, this Lease shall not be affected by any such sale and Tenant agrees to attorn to the purchaser or assignee. If any security has been given by Tenant to secure the faithful performance of any of the
covenants of this Lease, Landlord shall transfer or deliver said security, as such, to Landlord’s successor in interest and thereupon Landlord shall be discharged from any further liability with regard to said security. 

25.    ESTOPPEL CERTIFICATES. Within ten (10) days following any written request which Landlord may make from
time to time, Tenant shall execute and deliver to Landlord or mortgagee or prospective mortgagee a sworn statement certifying: (a) the date of commencement of this Lease; (b) the fact that this Lease is unmodified and in full force and
effect (or, if there have been modifications to this Lease, that this Lease is in full force and effect, as modified, and stating the date and nature of such modifications); (c) the date to which the rent and other sums payable under this Lease have
been paid; (d) the fact that there are no current defaults under this Lease by either Landlord or Tenant except as specified in Tenant’s statement (or, if there are current defaults under this Lease, stating the and nature of such
defaults); and (e) such other matters as may be reasonably requested by Landlord. Landlord and Tenant intend that any statement delivered pursuant to this Article 25 may be relied upon by any mortgagee, beneficiary or purchaser, and Tenant
shall be liable for all loss, cost or expense resulting from the failure of any sale or funding of any loan caused by any material misstatement contained in such estoppel certificate. Tenant irrevocably agrees that if Tenant fails to execute and
deliver such certificate within such ten (10) day period Landlord or Landlord’s beneficiary or agent may execute and deliver such certificate on Tenant’s behalf, and that such certificate shall be fully binding on Tenant except to the
extent Landlord knowingly makes misstatements of material facts in such certificate. 
 26.    SURRENDER OF PREMISES. 

26.1    Tenant shall arrange to meet Landlord for two (2) joint inspections of the Premises, the first to occur at
least thirty (30) days (but no more than sixty (60) days) before the last day of the Term, and the second to occur not later than forty-eight (48) hours after Tenant has vacated the Premises. 

26.2    All alterations, additions, and improvements in, on, or to the Premises made or installed by or for Tenant,
including, without limitation, carpeting (collectively, “Alterations”), shall be and remain the property of Tenant during the Term. Upon the expiration or sooner termination of the Term, all Alterations shall become a part of the
realty and shall belong to Landlord without compensation, and title shall pass to Landlord under this Lease as by a bill of sale. At the end of the Term or any renewal of the Term or other sooner termination of this Lease, Tenant will peaceably
deliver up to Landlord possession of the Premises, together with all Alterations by whomsoever made, in the same conditions received or first installed, broom clean and free of all debris, excepting only ordinary wear and tear and damage by fire or
other casualty. Notwithstanding the foregoing, (i) Landlord shall notify Tenant, at the time Landlord approves the final construction drawings for Landlord’s Work, whether any portions of the Landlord’s

  

					
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Work will be required to be removed by Tenant at the end of the Term, (ii) Tenant shall have no obligation to remove any carpeting from the Premises, and (iii) for Alterations made
during the Term, Landlord shall notify Tenant, at the time Landlord approves or consents to such Alterations, whether any such Alterations will be required to be removed by Tenant at the end of the Term. Any such required removal by Tenant shall be
at Tenant’s sole cost, and Tenant shall repair any damage caused by such removal. Tenant must, at Tenant’s sole cost, remove upon termination of this Lease, any and all of Tenant’s furniture, furnishings, equipment, movable partitions
of less than full height from floor to ceiling and other trade fixtures and personal property, as well as all data/telecommunications cabling and wiring installed by or on behalf of Tenant, whether inside walls, under any raised floor or above any
ceiling (collectively, “Personalty”). Personalty not so removed shall be deemed abandoned by the Tenant and title to the same shall thereupon pass to Landlord under this Lease as by a bill of sale, but Tenant shall remain
responsible for the cost of removal and disposal of such Personalty, as well as any damage caused by such removal. In lieu of requiring Tenant to remove Alterations and Personalty and repair the Premises as aforesaid, Landlord may, by written notice
to Tenant delivered at least thirty (30) days before the Termination Date, require Tenant to pay to Landlord, as additional rent hereunder, the cost of such removal and repair in an amount reasonably estimated by Landlord. 

26.3    All obligations of Tenant under this Lease not fully performed as of the expiration or earlier termination of the
Term shall survive the expiration or earlier termination of the Term Upon the expiration or earlier termination of the Term, Tenant shall pay to Landlord the amount, as estimated by Landlord, necessary to repair and restore the Premises as provided
in this Lease and/or to discharge Tenant’s obligation for unpaid amounts due or to become due to Landlord. All such amounts shall be used and held by Landlord for payment of such obligations of Tenant, with Tenant being liable for any
additional costs upon demand by Landlord, or with any excess to be returned to Tenant after all such obligations have been determined and satisfied. Any otherwise unused Security Deposit shall be credited against the amount payable by Tenant under
this Lease. 
 27.    NOTICES. Any notice or document required or permitted to be delivered under this Lease shall
be addressed to the intended recipient, by fully prepaid registered or certified United States Mail return receipt requested, or by reputable independent contract delivery service furnishing a written record of attempted or actual delivery, and
shall be deemed to be delivered when tendered for delivery to the addressee at its address set forth on the Reference Pages, or at such other address as it has then last specified by written notice delivered in accordance with this Article 27, or if
to Tenant at either its aforesaid address or its last known registered office or home of a general partner or individual owner, whether or not actually accepted or received by the addressee. Any such notice or document may also be personally
delivered if a receipt is signed by and received from, the individual, if any, named in Tenant’s Notice Address. 

28.    TAXES PAYABLE BY TENANT. In addition to rent and other charges to be paid by Tenant under this Lease, Tenant
shall reimburse to Landlord, upon demand, any and all taxes payable by Landlord (other than net income taxes) whether or not now customary or within the contemplation of the parties to this Lease: (a) upon, allocable to, or measured by or on
the gross or net rent payable under this Lease, including without limitation any gross income tax or excise tax levied by the State, any political subdivision thereof, or the Federal Government with respect to the receipt of such rent; (b) upon
or with respect to the possession, leasing, operation, management, maintenance, alteration, repair, use or occupancy of the Premises or any portion thereof, including any sales, use or service tax imposed as a result thereof; (c) upon or
measured by the Tenant’s gross receipts or payroll or the value of Tenant’s equipment, furniture, fixtures and other personal property of Tenant or leasehold improvements, alterations or additions located in the Premises; or (d) upon
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Tenant is a party creating or transferring any interest of Tenant in this Lease or the Premises. In addition to the foregoing, Tenant agrees to pay, before delinquency, any and all taxes levied
or assessed against Tenant and which become payable during the term hereof upon Tenant’s equipment, furniture, fixtures and other personal property of Tenant located in the Premises. 

29.    RELOCATION OF TENANT. Landlord, at its sole expense, on at least sixty (60) days prior written notice,
may require Tenant to move from the Premises to other space on floors five (5) through eight (8) of comparable size and decor in order to permit Landlord to consolidate the space leased to Tenant with other adjoining space leased or to be
leased to another tenant. In the event of any such relocation, Landlord will pay all expenses of preparing and decorating the new premises so that they will be the same or better than the Premises from which Tenant is moving, and Landlord will also
pay the expense of moving Tenant’s furniture and equipment to the relocated premises. In such event this Lease and each and all of the terms and covenants and conditions hereof shall remain in full force and effect and thereupon be deemed
applicable to such new space except that revised Reference Pages and a revised Exhibit A shall become part of this Lease and shall reflect the location of the new premises. 

30.    DEFINED TERMS AND HEADINGS. The Article headings shown in this Lease are for convenience of reference and
shall in no way define, increase, limit or describe the scope or intent of any provision of this Lease. Any indemnification or insurance of Landlord shall apply to and inure to the benefit of all the following “Landlord Entities”,
being Landlord, Landlord’s investment manager, and the trustees, boards of directors, officers, general partners, beneficiaries, stockholders, employees and agents of each of them. Any option granted to Landlord shall also include or be
exercisable by Landlord’s trustee, beneficiary, agents and employees, as the case may be. In any case where this Lease is signed by more than one person, the obligations under this Lease shall be joint and several. The terms “Tenant”
and “Landlord” or any pronoun used in place thereof shall indicate and include the masculine or feminine, the singular or plural number, individuals, firms or corporations, and their and each of their respective successors, executors,
administrators and permitted assigns, according to the context hereof. The term “rentable area” shall mean the rentable area of the Premises or the Building as calculated by the Landlord on the basis of the plans and specifications of the
Building including a proportionate share of any common areas. Tenant hereby accepts and agrees to be bound by the figures for the rentable square footage of the Premises and Tenant’s Proportionate Share shown on the Reference Pages; however,
Landlord may adjust either or both figures if there is manifest error, addition or subtraction to the Building or any business park or complex of which the Building is a part, remeasurement or other circumstance reasonably justifying adjustment. The
term “Building” refers to the structure in which the Premises are located and the common areas (parking lots, sidewalks, landscaping, etc.) appurtenant thereto. If the Building is part of a larger complex of structures, the term
“Building” may include the entire complex, where appropriate (such as shared Expenses, Insurance Costs or Taxes) and subject to Landlord’s reasonable discretion. 

31.    TENANT’S AUTHORITY. If Tenant signs as a corporation, partnership, trust or other legal
entity each of the persons executing this Lease on behalf of Tenant represents and warrants that Tenant has been and is qualified to do business in the state in which the Building is located, that the entity has full right and authority to enter
into this Lease, and that all persons signing on behalf of the entity were authorized to do so by appropriate actions. Tenant agrees to deliver to Landlord, simultaneously with the delivery of this Lease, a corporate resolution, proof of due
authorization by partners, opinion of counsel or other appropriate documentation reasonably acceptable to Landlord evidencing the due authorization of Tenant to enter into this Lease. 

  

					
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 Tenant hereby represents and warrants that neither Tenant, nor any persons or entities
holding any legal or beneficial interest whatsoever in Tenant, are (i) the target of any sanctions program that is established by Executive Order of the President or published by the Office of Foreign Assets Control, U.S. Department of the
Treasury (“OFAC”); (ii) designated by the President or OFAC pursuant to the Trading with the Enemy Act, 50 U.S.C. App. § 5, the International Emergency Economic Powers Act, 50 U.S.C. §§
1701-06, the Patriot Act, Public Law 107-56, Executive Order 13224 (September 23, 2001) or any Executive Order of the President issued pursuant to such statutes; or
(iii) named on the following list that is published by OFAC: “List of Specially Designated Nationals and Blocked Persons.” If the foregoing representation is untrue at any time during the Term, an Event of Default will be deemed to
have occurred, without the necessity of notice to Tenant. 
 32.    FINANCIAL STATEMENTS AND CREDIT REPORTS. At
Landlord’s request, and subject to a confidentiality agreement reasonably acceptable to both Landlord and Tenant, Tenant shall deliver to Landlord a copy, certified by an officer of Tenant as being a true and correct copy, of Tenant’s most
recent audited financial statement, or, if unaudited, certified by Tenant’s chief financial officer as being true, complete and correct in all material respects. Tenant hereby authorizes Landlord to obtain one or more credit reports on Tenant
at any time, and shall execute such further authorizations as Landlord may reasonably require in order to obtain a credit report. The obligations set forth in this Section 32 shall be suspended for all periods of time during which Tenant is a
“public company” and subject to the public reporting obligations of the Securities Act of 1934, as amended. 

33.    COMMISSIONS. Each of the parties represents and warrants to the other that it has not dealt with any broker or
finder in connection with this Lease, except as described on the Reference Pages. Landlord understands and acknowledges that it shall be responsible for payment of any commissions owed to the brokers described on the Reference Pages and shall
indemnify and hold Tenant harmless against any non-payment of such commissions. 

34.    TIME AND APPLICABLE LAW. Time is of the essence of this Lease and all of its provisions. This Lease shall in
all respects be governed by the laws of the state in which the Building is located. Whenever a period of time is prescribed for the taking of an action by Landlord, the period of time for the performance of such action shall be extended by the
number of days that the performance is actually delayed due to strikes, acts of God, shortages of labor or materials, war, terrorist acts, pandemics, civil disturbances and other causes beyond the reasonable control of the performing party. 

35.    SUCCESSORS AND ASSIGNS. Subject to the provisions of Article 9, the terms, covenants and conditions contained
in this Lease shall be binding upon and inure to the benefit of the heirs, successors, executors, administrators and assigns of the parties to this Lease. 

36.    ENTIRE AGREEMENT. This Lease, together with its exhibits, contains all agreements of the parties to this Lease
and supersedes any previous negotiations. There have been no representations made by the Landlord or any of its representatives or understandings made between the parties other than those set forth in this Lease and its exhibits. This Lease may not
be modified except by a written instrument duly executed by the parties to this Lease. 
 37.    EXAMINATION NOT
OPTION. Submission of this Lease shall not be deemed to be a reservation of the Premises. Landlord shall not be bound by this Lease until it has received a copy of this Lease duly executed by Tenant and has delivered to Tenant a copy of
this Lease duly executed by Landlord, and until such delivery Landlord reserves the right to exhibit and lease the Premises to other prospective tenants. Notwithstanding anything contained in this Lease to the contrary, Landlord may

  

					
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withhold delivery of possession of the Premises from Tenant until such time as Tenant has paid to Landlord any security deposit required by Article 5, the first month’s rent as set forth in
Article 3 and any sum owed pursuant to this Lease. 
 38.    RECORDATION. Tenant shall not record or register this
Lease or a short form memorandum hereof without the prior written consent of Landlord, and then shall pay all charges and taxes incident such recording or registration. 

39.    PARKING. 

39.1    During the initial Term of this Lease, Tenant agrees to lease from Landlord and Landlord agrees to lease to Tenant,
the number and type of parking passes as set forth on the Reference Page of this Lease. This right to park in the Building’s parking facilities (the “Parking Facility”) shall be on an unreserved, nonexclusive, first come, first
served basis, for passenger-size automobiles and is subject to the following terms and conditions: 

39.1.1    Tenant shall pay to Landlord, or Landlord’s designated parking operator, the Building’s prevailing
monthly parking charges, without deduction or offset, on the first day of each month during the Term of this Lease. Landlord will notify Tenant upon not less than thirty (30) days’ notice of any increases in the monthly parking charges
prior to billing Tenant any increases. No deductions from the monthly charge shall be made for days on which the Parking Facility is not used by Tenant. 

39.1.2    Tenant shall at all times abide by and shall cause each of Tenant’s employees, agents, customers, visitors,
invitees, licensees, contractors, assignees and subtenants (collectively, “Tenant’s Parties”) to abide by any rules and regulations (“Rules”) for use of the Parking Facility that Landlord or Landlord’s
garage operator reasonably establishes from time to time, and otherwise agrees to use the Parking Facility in a safe and lawful manner. Landlord reserves the right to adopt, modify and enforce the Rules governing the use of the Parking Facility from
time to time including any key-card, sticker or other identification or entrance system and hours of operation. Landlord may refuse to permit any person who violates such Rules to park in the Parking Facility,
and any violation of the Rules shall subject the car to removal from the Parking Facility. 
 39.1.3    Unless specified
to the contrary above, the parking spaces hereunder shall be provided on a non-designated “first-come, first-served” basis. Landlord reserves the right to assign specific spaces, and to reserve
spaces for visitors, small cars, disabled persons or for other tenants or guests, and Tenant shall not park and shall not allow Tenant’s Parties to park in any such assigned or reserved spaces; provided however, that Landlord shall
manage the parking garage to ensure that the parking space is available to Tenant as per this Section 39. Tenant may validate visitor parking by such method as Landlord may approve, at the validation rate from time to time generally applicable
to visitor parking. Tenant acknowledges that the Parking Facility may be closed entirely or in part in order to make repairs or perform maintenance services, or to alter, modify, re-stripe or renovate the
Parking Facility, or if required by casualty, strike, condemnation, act of God, governmental law or requirement or other reason beyond the operator’s reasonable control. 

39.1.4    Tenant acknowledges that to the fullest extent permitted by law, Landlord shall have no liability for any damage
to property or other items located in the parking areas of the Building (including without limitation, any loss or damage to tenant’s automobile or the contents thereof due to theft, vandalism or accident), nor for any personal injuries or
death arising out of the use of the Parking 

  

					
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Facility by Tenant or any Tenant’s Parties, whether or not such loss or damage results from Landlord’s active negligence or negligent omission. The limitation on Landlord’s
liability under the preceding sentence shall not apply however to loss or damage arising directly from Landlord’s willful misconduct. Without limiting the foregoing, if Landlord arranges for the parking areas to be operated by an independent
contractor not affiliated with Landlord, Tenant acknowledges that Landlord shall have no liability for claims arising through acts or omissions of such independent contractor. Tenant and Tenant’s Parties each hereby voluntarily releases,
discharges, waives and relinquishes any and all actions or causes of action for personal injury or property damage occurring to Tenant or any of Tenant’s Parties arising as a result of parking in the Parking Facility, or any activities
incidental thereto, wherever or however the same may occur, and further agrees that Tenant will not prosecute any claim for personal injury or property damage against Landlord or any of its officers, agents, servants or employees for any said causes
of action and in all events, Tenant agrees to look first to its insurance carrier and to require that Tenant’s Parties look first to their respective insurance carriers for payment of any losses sustained in connection with any use of the
Parking Facility. Tenant hereby waives on behalf of its insurance carriers all rights of subrogation against Landlord or any Landlord Entities. 

39.1.5    Tenant’s right to park as described in this Article and this Lease is exclusive to Tenant and shall not
pass to any assignee or sublessee without the express written consent of Landlord other than any assignee or sublessee where Landlord’s consent is not required for the assignment or sublet pursuant to Section 9. Such consent is at the sole
discretion of the Landlord. 
 39.1.6    In the event any surcharge or regulatory fee is at any time imposed by any
governmental authority with reference to parking, Tenant shall (commencing after two (2) weeks’ notice to Tenant) pay, per parking pass, such surcharge or regulatory fee to Landlord in advance on the first day of each calendar month
concurrently with the month installment of rent due under this Lease. Landlord will enforce any surcharge or fee in an equitable manner amongst the Building tenants. 

39.2    If Tenant violates any of the terms and conditions of this Article, the operator of the Parking Facility shall
have the right to remove from the Parking Facility any vehicles hereunder which shall have been involved or shall have been owned or driven by parties involved in causing such violation, without liability therefor whatsoever. In addition, Landlord
shall have the right to cancel Tenant’s right to use the Parking Facility pursuant to this Article upon ten (10) days’ written notice, unless within such ten (10) day period, Tenant cures such default. Such cancellation right
shall be cumulative and in addition to any other rights or remedies available to Landlord at law or equity, or provided under this Lease. 

40.    LIMITATION OF LANDLORD’S LIABILITY. Redress for any claim against Landlord under this Lease
shall be limited to and enforceable only against and to the extent of Landlord’s interest in the Building. The obligations of Landlord under this Lease are not intended to be and shall not be personally binding on, nor shall any resort be had
to the private properties of, any of its or its investment manager’s trustees, directors, officers, partners, beneficiaries, members, stockholders, employees, or agents, and in no case shall Landlord be liable to Tenant hereunder for any lost
profits, damage to business, or any form of special, indirect or consequential damages. 
 41.    EXTENSION OPTION.
Tenant shall, provided the Lease is in full force and effect and there is no uncured Event of Default at the time of notification or commencement, have one (1) option to extend the Term of this Lease as to the entire Premises for a term
of five (5) years (the “Extension Term”), on 

  

					
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the same terms and conditions set forth in the Lease, except as modified by the terms, covenants and conditions as set forth below: 

41.1    If Tenant elects to exercise said option, then Tenant shall provide Landlord with written notice no earlier than
the date which is fifteen (15) months prior to the expiration of the then current Term of the Lease but no later than the date which is twelve (12) months prior to the expiration of the then current Term of this Lease. If Tenant fails to
provide such notice, time being of the essence, Tenant shall have no further or additional right to extend or renew the term of the Lease. 

41.2    The Annual Rent and Monthly Installment in effect at the expiration of the then current term of the Lease shall be
increased for the Extension Term as hereinafter provided. The Annual Rent and Monthly Installment for the Extension Term shall be increased to equal the then current fair market rental for comparable space in similar buildings in the same rental
market as of the date the applicable Extension Term is to commence, taking into account the specific provisions of the Lease which will remain constant. Landlord shall advise Tenant of the new Annual Rent and Monthly Installment for the Premises no
later than thirty (30) days after receipt of Tenant’s written request to exercise an Extension Term. Said request shall be made no earlier than thirty (30) days prior to the first date on which Tenant may exercise its option under
this Paragraph. Said notification of the new Annual Rent may include a provision for its escalation to provide for a change in fair market rental between the time of notification and the commencement of the extension term. If, on or before the date
which is 270 days prior to the commencement of the applicable Extension Term, Tenant has not agreed with Landlord’s determination of the new Annual Rent after negotiating in good faith, either party may elect by notice (the “Arbitration
Notice”) to the other party to have the new Annual Rent arbitrated as described as follows. 
 41.3    If either
party sends the Arbitration Notice, then such new Annual Rent shall be determined as follows: Landlord and Tenant shall each appoint a qualified MAI appraiser doing business in the area and, in turn, those two (2) independent MAI appraisers
shall appoint a third (3rd) MAI appraiser and the majority shall decide the new Annual Rent for the Premises as of the commencement of the applicable Extension Term, which determination shall be
consistent with the second sentence of Section 41.2 above and shall be binding on Landlord and Tenant. Landlord and Tenant shall equally share in the expense of this appraisal. 

41.4    A qualified MAI appraiser shall be any person appointed by or on behalf of either party or appointed pursuant to
the provisions hereof and: (i) shall be (A) a member of the American Institute of Real Estate Appraisers with not less than 10 years of experience in the appraisal of improved office and life sciences space in the greater Cambridge,
Massachusetts metropolitan area, or (B) a licensed commercial real estate broker with not less than 15 years’ experience representing landlords and/or tenants in the leasing of office and life sciences space in the greater Cambridge,
Massachusetts metropolitan area; (ii) devoting substantially all of his or her time to professional appraisal or brokerage work, as applicable, at the time of appointment; and (iii) shall be in all respects impartial and disinterested.

 In no event shall the Annual Rent and Monthly Installment for any option period be less than the Annual Rent and Monthly Installment in
the preceding Term and escalating each Lease Year by 3%. 
 41.5    Except as set forth below, the option to extend the
Term for the Extension Term is not transferable; the parties hereto acknowledge and agree that they intend that the aforesaid option to extend the Term of this Lease shall be “personal” to the originally-named Tenant as set forth above and
that in no event will any assignee or sublessee have any rights to exercise the aforesaid option to extend, other than an assignee who has consummated a Permitted Transfer. 

  

					
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 IN WITNESS WHEREOF, Landlord and Tenant have executed the Lease as of the Lease Reference Date set forth
above. 
  

									
	LANDLORD:	 		 	TENANT:
			
	321 SUMMER STREET LLC, a Delaware	 		 	INOZYME PHARMA, INC., a Delaware
	limited liability company	 		 	corporation
					
	By:	 	 /s/ David Crane
	 		 	By:	 	 /s/ Axel Bolte

	Name:	 	David Crane	 		 	Name:	 	Axel Bolte
	Title:	 	Vice President	 		 	Title:	 	Chief Executive Officer
					
	Dated:	 	December 11, 2019	 		 	Dated:	 	December 9, 2019
					
	By:	 	 /s/ Stephen J. George
	 		 		 	
	Name:	 	Stephen J. George	 		 		 	
	Title:	 	Managing Director	 		 		 	
					
	Dated:	 	December 13, 2019	 		 		 	

  

  

					
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 33cday-ex101_6.htm

 

Exhibit 10.1

 

SEPARATION AGREEMENT, RELEASE and CONSULTING AGREEMENT

 

THIS AGREEMENT made as of the 2nd day of July, 2020.

BETWEEN:

CERIDIAN DAYFORCE INC.  
( “Ceridian Dayforce”) and
 CERIDIAN HCM HOLDING INC. (“Ceridian Holding”)

- and -

OZZIE GOLDSCHMIED
(hereinafter “Goldschmied”)

WHEREAS:

A.Ceridian Dayforce is a corporation incorporated pursuant to the laws of Ontario, and registered to and carrying on business throughout Canada of providing human capital management software and services;

B.Ceridian Holding is a Delaware corporation and the indirect parent company of Ceridian Dayforce;

C.Ozzie Goldschmied is currently Executive Vice President and Chief Technology Officer of Ceridian;  

D.Ceridian and Goldschmied have mutually agreed that Goldschmied’s employment with Ceridian Dayforce will change as follows:

	
 
	
1. 
	
effective August 31st, 2020, Goldschmied will no longer be the be the Executive Vice President and Chief Technology Officer of Ceridian but will remain as an employee of Ceridian in the role of Senior Advisor to the President until December 31st, 2020 (the “Employment Separation Date”); and

	
 
	
2.
	
from and after the Employment Separation Date, Goldschmied will cease to be an employee of Ceridian, but will continue providing Consulting Services (as defined below) during the Consulting Term (as defined below);

THEREFORE, in consideration of the mutual covenants and agreements hereinafter contained to be performed, the parties agree as follows:

 

Section 1. Definitions

	
1.01
	
As used in this Agreement:

	
 
	
(a)
	
“Agreement” means this Agreement and any schedules hereto, as may be amended in writing by both parties;

	
 
	
(a)
	
“Ceridian” means, collectively, Ceridian Holding, Ceridian HCM, Inc. and any of its affiliates, including without limitation Ceridian Canada Ltd., Ceridian Dayforce Ltd., and Ceridian Dayforce Corporation;

	
 
	
(b)
	
“Confidential Information” means any information identified by Ceridian or a Customer as “Confidential” and/or “Proprietary”, or which, under the circumstances, ought to be treated as confidential or proprietary including, without limitation, trade secrets, non-public information related to Ceridian or the Customer’s business (as the case may be), employees, service methods, software, documentation, financial information, prices and product plans, whether in written, verbal, or electronic form, but does not include information which Goldschmied can establish: (i) has become 

 

 

	
 
		
generally available to the public other than as a result of a breach of the Agreement by Goldschmied or any third party to whom Goldschmied has disclosed same; (ii) was disclosed to Goldschmied on a non-confidential basis by a third party who did not owe an obligation of confidence to Ceridian or a Customer (as the case may be) with respect to the disclosed information; or (iii) was known by Goldschmied prior to its receipt from Ceridian or a Customer (as the case may be), as evidenced by written document;

	
 
	
(c)
	
“Consulting Services” means general business consultation services to be provided by Goldschmied hereunder as may be requested from time to time by Ceridian during the Consulting Term, and in particular (but without limitation) with respect to the Research and Development and Product areas of the business;

	
 
	
(d)
	
“Consulting Term” means the period of time from the Employment Separation Date to and including June 30th, 2022;

	
 
	
(e)
	
“Competitive Business” means any person or entity that provides products or services or is otherwise engaged in any business competitive with the business carried on by Ceridian or any of its subsidiaries or affiliates, being the business of providing human capital management software and services;

	
 
	
(f)
	
 “Customer(s)” means any party who has entered into an agreement with Ceridian for the supply by Ceridian of products or services, or any party with whom Ceridian is actively engaged in an effort to enter into such agreement;

	
 
	
(g)
	
“Employment Agreement” means the written employment agreement entered into between Goldschmied and Ceridian Dayforce Inc. dated April 2, 2012, and any amendments thereto;

	
 
	
(h)
	
“Employment Laws” means the Income Tax Act (Canada), the Canada Pension Plan Act, the Employment Insurance Act (Canada) and any other federal, provincial or municipal legislation now or hereafter in existence applicable to the relationship between employees and employers; 

	
 
	
(i)
	
“Personal Information” means information about an identifiable individual or allowing an individual to be identified, including any information relating to the employees of Ceridian or a Customer;

	
 
	
(j)
	
“Restrictive Covenants” means the Non-Competition, No-Hire and Non- Solicitation Restrictions as stated in the Plans (as defined below) and the corresponding written Notice(s) of Option Grant under which any Stock Options were granted to Goldschmied as well as set out in Goldschmied’s Employment Agreement;

	
 
	
(k)
	
“Stock Options and Restricted Stock Units” means those outstanding stock option and restricted stock unit awards granted to Goldschmied as identified in written option grant notice(s), issued under the 2013 Ceridian HCM Holding Inc. Stock Incentive Plan, as may have been amended from time to time (the “2013 Plan”), and the Ceridian HCM Holding Inc. 2018 Equity Incentive Plan, as may be amended (the “2018 Plan”), the 2013 Plan and 2018 Plan are collectively referred to herein as the “Plans”.

	
 
	
(l)
	
“Work Product" means models, devices, reports, computer programs, tooling, schematics and other diagrams, instructional materials, and anything else Goldschmied produces in the course of providing the Consulting Services.

Section 2.Change in Roles and Responsibilities; Separation from Ceridian

2.01The parties agree that Goldschmied’s working notice period will begin effective August 31st, 2020 and end on December 31, 2020 (the “Working Notice Period”).  Between the date of execution of this Agreement and the commencement of the Working Notice Period, Goldschmied will assist with transition activities.  Thereafter, and during the Working Notice Period, Goldschmied will remain available only for miscellaneous consultation and inquiries until the Employment Separation Date.   As of the Employment Separation Date, Goldschmied’s employment with Ceridian will cease, he will no longer be Senior Advisor to the President of 

 

 

Ceridian, and thereafter Goldschmied shall continue performing services for Ceridian solely as consultant and independent contractor, on and subject to the terms set forth below. 

As of September 1, 2020, Goldschmied will no longer be a “Group 1” executive.  As a consequence, it is understood and agreed that his obligations with respect to trading in Ceridian securities as a Group 1 executive will cease as of that date.  

Although not anticipated, should Goldschmied act in a manner so as to constitute just cause at common law prior to or during the Working Notice Period, or otherwise violate a material provision of this agreement, this agreement shall automatically terminate, the offers herein will be null and void, including but not limited to the agreement to provide pay in lieu of notice and the Consulting Agreement set out herein.  

Goldschmied hereby confirms that he has had adequate opportunity to ask Ceridian any questions regarding this Agreement and to discuss this Agreement with his financial and legal advisors, and any other persons he wished to consult (subject to the confidentiality obligations contained herein).  Goldschmied further agrees that he has voluntarily decided to become a party to this Agreement, and understands it will be effective when it is executed by him.  In order to receive all of the benefits of this Agreement, Goldschmied must, on or after the Employment Separation Date, execute the Release attached hereto as Schedule A, which covers the period from the date of his execution of this Agreement until the Employment Separation Date.

Regardless of whether or not this Release is executed, Goldschmied will be paid all salary or wages, vested and unused paid days off, and all other amounts to which he is entitled to by law accrued and owing as at the Employment Separation Date, less all legally required or authorized withholding.

2.02Ceridian will, upon execution of the Agreement and Release as set out in Section 2.01 above:

	
 
	
(a)
	
With respect to the base salary component of Goldschmied’s remuneration, provide Goldschmied 18 months base salary, which amount will be comprised of:

	
 
	
(i)
	
4 months base salary during the Working Notice Period (being One Hundred Fifty-Two Thousand Two Hundred Eighty Dollars ($152,280.00) (CAD) less statutory deductions, paid by way of regular semi-monthly salary payments; and

	
 
	
(ii)
	
14 months base salary in lieu of notice, being Five Hundred Thirty-Two Thousand Nine Hundred Thirty-Two Dollars ($532,980.00) (CAD) less statutory deductions, which amount is inclusive of all statutory notice and/or severance due to Goldschmied, and will be payable by way of a lump sum payment, following the execution of Release contemplated in Section 2.01 above (the “Payment Date”);

	
 
	
(b)
	
Pay Goldschmied, on the Payment Date, a lump sum payment equal to Goldschmied’s 2020 Management Incentive Plan (“MIP”) compensation (at target level), to which he would have become entitled for 2020 based on the 2020 MIP metrics, in the amount Two Hundred Seventy-Four Thousand One Hundred Four Dollars ($274,104.00) (CAD) payable on the Payment Date.  For clarity, this payment will be provided to Goldschmied regardless as to whether, or at what rate, MIP payments are provided to other similarly situated Ceridian employees. The Performance Stock Units which were granted as a portion of Goldschmied’s 2020 MIP compensation will not vest and have been compensated by way of a cash payment in this clause 2.02(b);

	
 
	
(c)
	
Provide Goldschmied a payment in the amount of $10,000 CAD (on the Payment Date) for reasonable executive-level outplacement and transition services, legal fees and/or financial advice in respect of this separation and career transition;;

	
 
	
(d)
	
Continue, upon approval of the benefits carrier, all health and dental benefit plans in which Goldschmied and any of his dependents are currently enrolled, which benefits will terminate at the end 

 

 

	
 
		
of the Consulting Term.  All other business travel accident, accidental death and dismemberment insurance, short-term and long-term disability, and other insurance coverage to which Goldschmied has been entitled as a Ceridian employee, will terminate on the Employment Separation Date, having satisfied the statutory notice period during the Working Notice Period.

2.03Subject to section 3.03 of this Agreement, all issued and outstanding Stock Options and Restricted Stock Units granted to Goldschmied will be handled in accordance with the terms of the Plans, as applicable, and the option agreements governing such Stock Options and Restricted Stock Units and underlying shares.

2.04Other than as explicitly set forth in this Agreement, the consideration and other benefits as set forth in this Section 2 will constitute the full amount of monies and other consideration to be paid to Goldschmied by Ceridian with respect to and in connection with the termination of his employment, including but not limited to (i) any amounts under Ceridian’s incentive or bonus programs for periods completed prior to or following the Employment Separation Date, (ii) any amounts under the Employment Agreement, and (iii) any amounts owing or claimed to be owing to Goldschmied pursuant to the terms of any other compensation arrangement to which he was subject during the term of his employment with Ceridian.

Section 3.Engagement of Goldschmied as a Consultant

3.01Provided Goldschmied signs Schedule A following his Employment Separation Date, then Ceridian agrees to engage Goldschmied as an independent contractor to perform the Consulting Services, and Goldschmied agrees to make himself reasonably accessible and available to Ceridian throughout the Consulting Term, on an independent contractor/consulting basis to provide the Consulting Services as may be requested from time to time by Ceridian.

3.02Ceridian shall reimburse Goldschmied for reasonable and demonstrable expenses directly incurred in carrying out his responsibilities under this Agreement, which may include, by way of example only, reasonable travel expenses.  Goldschmied shall not have the authority to charge any expenses to Ceridian without its prior approval, nor to execute any contracts or other documents on Ceridian’s behalf.

3.03As consideration for the Consulting Services to be provided, and as Goldschmied will continue to be providing services to Ceridian without interruption following the Employment Separation Date, Goldschmied will receive the following:

	
 
	
(a)
	
if and to the extent Goldschmied provides (at the request of Ceridian) Consulting Services, Goldschmied shall be entitled to charge a daily rate in the amount of $2,000 (CAD).  Goldschmied shall set forth such monthly fee in an itemized invoice to be submitted by Goldschmied to Ceridian within 10 business days of the end of such calendar month.  Payment of each invoice shall be made by Ceridian not later than the 30th day of the month following that month for which the invoice is issued, less deductions for any advances made to Goldschmied, and for any expenses paid to Goldschmied on his behalf.  Upon Goldschmied’s production of proof that he is registered respecting the Goods and Services Tax, Ceridian shall remit the required taxes to Goldschmied in respect of payments for such Consulting Services; 

	
 
	
(b)
	
as additional consideration (over and above the payments contemplated in 3.02(a)) for the Consulting Services, Goldschmied shall be permitted to keep his existing Stock Options and Restricted Stock Units, which Options and Restricted Stock Units shall continue under the same terms and conditions as provided under the Plans, as applicable, and the option agreements governing such Stock Options and underlying shares.  Goldschmied’s Stock Options and Restricted Stock Units shall continue to vest until the earlier of:

	
 
	
(i)
	
the expiration of the Consulting Term; or

	
 
	
(ii)
	
the earlier termination of this Agreement in accordance with the written terms hereof.

However, and for the avoidance of doubt, in the event Goldschmied breaches any term of this Agreement (including without limitation, his obligations as set forth in Section 3.06 or 5), then in addition to any other 

 

 

rights or remedies Ceridian may have at law or in equity, the Consulting Services shall automatically terminate, this Section 3 shall become null and void, all Stock Options and Restricted Stock Units will be handled solely in accordance with the original terms of the Plans, as applicable,  and the option agreements governing such Stock Options and Restricted Stock Units and underlying shares, and any Stock Options and Restricted Stock Units which may have vested during the Consulting Term shall immediately be forfeited.

3.04During the Consulting Term, Goldschmied will be subject to the Restrictive Covenants and the further covenants as set out in Article 5 hereof.

3.05In addition to the obligations set forth herein, Goldschmied shall comply at all times with Ceridian’s security procedures in effect from time to time, as well as the terms and conditions of all Ceridian written policies, including without limitation, the following if and/or as applicable (copies of which Goldschmied acknowledges having been provided to him  or made available to him):

Ceridian Code of Conduct
Privacy Policy
Security Standards / Requirements
Travel Policy

3.06Goldschmied shall not, either during the course of the Consulting Term or thereafter, for any reason whatsoever, directly or indirectly:

	
 
	
(a)
	
disclose any Confidential Information to any person, firm or corporation other than for the purposes of providing the Consulting Services, and as authorized by Ceridian or the Customer (as the case may be) in advance; or

	
 
	
(b)
	
use for Goldschmied’s own purpose, or for any purpose other than that of providing the Consulting Services, any Confidential Information which he acquires through his involvement with Ceridian or a Customer and through his contact which any person, firm or corporation affiliated with Ceridian or a Customer.

At all times Goldschmied shall act bona fide and in the best interests of Ceridian and the Customers.

3.07Notwithstanding anything to the contrary, the Consulting Services may be terminated:

	
 
	
(a)
	
by Ceridian Dayforce if Goldschmied breaches any material term of this Agreement (including without limitation, his obligations as set forth in Section 5);

	
 
	
(b)
	
by Goldschmied by giving Ceridian Dayforce thirty (30) days advance written notice.

For the avoidance of doubt, to the extent Ceridian is able to show a breach of this agreement, Goldschmied shall be considered to have breached the Agreement for the purposes of Section 3.03.  The Consulting Services shall also terminate without notice or pay in lieu thereof in case of the death of Goldschmied, or by reason of illness or accident whereby Goldschmied is incapable of carrying out the terms and conditions of this Agreement for one (1) month, or upon the bankruptcy of either party.

3.08On termination of the Consulting Services, Goldschmied shall:

	
 
	
(a)
	
forthwith deliver up all documents, papers, plans, materials and other property of or relating to the affairs of Ceridian and any Customers which may then be in his possession or under his control; and

	
 
	
(b)
	
immediately cease making any representation that he is associated with Ceridian or any Customers.

3.09Goldschmied represents that he is and will at all times throughout the Consulting Term comply with all applicable legislation relating to privacy and the collection, use and disclosure of Personal Information.

 

 

3.10During the Consulting Term, Goldschmied will not be an employee of Ceridian Dayforce or any other Ceridian entity, and will be considered an independent contractor, and accordingly Employment Laws will not apply to Goldschmied at any point during the term of the Consulting Services.  Ceridian is interested only in the results obtained by Goldschmied who retains sole control of the manner and means of performing the Consulting Services, subject to its specific terms and conditions, and provided that he maintains standards generally accepted in the industry for such services.  

3.11All Work Product will belong to Ceridian, and Goldschmied will deliver all Work Product to Ceridian upon the earlier of the expiration/termination of the Consulting Services or Ceridian's request. Goldschmied will promptly disclose to Ceridian any works of authorship, including drawings, designs, plans, specifications, notebooks, tape recordings, computer programs, computer output, models, tracings, schematics, photographs, reports, findings, recommendations, educational materials, data and memoranda of every description and anything else Goldschmied produces in connection with the Consulting Services, and Goldschmied hereby assigns to Ceridian all copyrights in such works.  To the extent permitted by law, Goldschmied waives any moral rights, such as the right to be named as author, the right to modify, the right to prevent mutilation and the right to prevent commercial exploitation, whether arising under the Berne Convention or otherwise.  Goldschmied will sign any necessary documents and will otherwise assist Ceridian, at Ceridian’s expense, in registering Ceridian’s copyrights and otherwise protecting Ceridian’s rights in such works in any country.  Ceridian will own all patents, copyrights or trade secrets covering such materials and will have full rights to use the materials without claim on the part of Goldschmied for additional compensation. Goldschmied will not use any pre-existing intellectual property including any trade secret, invention, work of authorship, mask work or protectable design that has already been conceived or developed by anyone other than Ceridian in connection with the Consulting Services unless Goldschmied has the right to use it for Ceridian’s benefit.

Section 4.Release of Claims Against Ceridian; Waivers

4.01In consideration of the terms and conditions of this Agreement, Goldschmied hereby fully and completely releases and discharges Ceridian, and all present and former subsidiaries, parents and affiliated corporations, and all of their respective directors, officers, agents, employees, trustees, insurers, attorneys, employee benefit plans and their fiduciaries, and each of their successors and assigns (collectively, the “Released Parties”), from any and all claims, complaints, agreements, obligations, demands and causes of action which he has or may have and which are known or unknown, arising out of any actions, conduct, decisions, behavior or events occurring up to the date of execution of this Agreement or in any way connected with his employment relationship with Ceridian, his separation from employment from Ceridian, or his entering into this Agreement. Goldschmied further understands that he must execute the release attached at Schedule A in order to receive all of the benefits of this Agreement.  This Agreement, and the release of claims it contains, specifically covers, but is not limited to, any and all claims, complaints, causes of action or demands that Goldschmied has or may have against the Released Parties relating in any way to the terms, conditions and circumstances of his employment up to and including the date of his signature below, whether based on statutory or common law, for employment discrimination or other violations of law, or any state’s human rights act, including but not limited to claims under the Employment Standards Act or the Human Rights Code.  Notwithstanding the foregoing, neither this Section 4 nor the Additional Release attached as Schedule A will bar any claim that a party has breached this Separation Agreement or to enforce its terms.

	
Section 5.
	
Non-Disclosure, Non-Competition, Non-Solicitation and Non-Disparagement Agreements and Cooperation 

5.01As part of the consideration of Ceridian entering into Goldschmied’s Employment Agreement, and as consideration for granting Goldschmied the Stock Options and Restricted Stock Units, Goldschmied voluntarily signed and agreed to the Restrictive Covenants.  In this regard, Goldschmied hereby re-affirms the validity and enforceability of the Restrictive Covenants and agrees that such terms remain in full force and effect following execution of this Agreement.  Goldschmied further agrees never to seek to argue or assert that the Restrictive Covenants are not enforceable against him. 

 

 

5.02In addition, and in consideration for the payments and other consideration set out herein, Goldschmied agrees that he will not, from the date hereof until June 30th, 2022 (the “Covenant Period”),  either directly or indirectly, provide services, in any capacity, whether as an employee, consultant, independent contractor, owner, or otherwise, to any of the following entities, or any of their affiliated entities, where these entities provide products or services which amount to a Competitive Business with Ceridian as of the Employment Separation Date: (1) ADP, LLC, (2) The Ultimate Software Group, Inc., (3) Workday, Inc. (4) Paycom Software Inc.  (5) Paylocity Corporation (6) Kronos, Inc.; (7) Payworks Inc. (8) SAP SE (9) Oracle Corporation or (10) Microsoft Corporation.  It is understood and agreed that ownership of less than 1% of the issued and outstanding shares of any of the above entities shall not constitute a breach of this provision.  

5.03In addition, Goldschmied covenants and that he will not, during the Covenant Period, either directly or indirectly:

	
 
	
(a)
	
in connection with a Competitive Business solicit or endeavour to entice away from Ceridian or any of its affiliates any Customers of Ceridian or its subsidiaries or affiliates at the date of termination of such employment or who were in such position at any time during the immediately preceding twelve (12) month period with the purpose or effect of reducing the business of any Customers with Ceridian or any of its subsidiaries or affiliates, or otherwise interfere with the relationship between any Customers and Ceridian or any of its subsidiaries or affiliates; 

	
 
	
(b)
	
offer employment to or endeavour to entice away from Ceridian or any of its affiliates any person who was employed by Ceridian or such affiliate at the end of the Covenant  Period with Ceridian or interfere in any way with the employer-employee relations between any such employee and Ceridian or any of its subsidiaries or affiliates.

5.04The foregoing covenants are given by Goldschmied acknowledging that he has specific knowledge of the affairs of Ceridian and that Ceridian carries on and attempts to carry on business throughout the world. In the event that any clause or portion of any such covenant should be unenforceable or be declared invalid for any reason whatsoever, such unenforceability or invalidity shall not affect the enforceability or validity of the remaining portions of the covenants and such unenforceable or invalid portions shall be severable from the remainder of this terms of this Agreement. Goldschmied hereby acknowledges and agrees that all restrictions contained in this Agreement are reasonable and valid and all defences to the strict enforcement thereof by Ceridian are hereby waived by Goldschmied.  It is understood by the parties hereto that the covenants contained in this clause are essential elements to the terms of this Agreement and that, but for Goldschmied’s agreement to enter into such covenants, Ceridian would not have agreed to the payments herein, including but not limited to the severance payment.  The parties hereby acknowledge and agree that the restrictions contained in this clause are in addition to, and not in substitution for, any other restrictive covenants in existence between Ceridian and Goldschmied, including without limitation, any similar restrictions agreed to in connection with the grant of the Stock Options and all such agreements shall be considered separate and distinct covenants and obligations, enforceable in accordance with their terms notwithstanding the invalidity or unenforceability of any such agreement or term thereof.

5.05In addition, Goldschmied further agrees as follows:

	
 
	
(a)
	
not to make, cause or attempt to cause any other person to make, any statements, either written or oral, or convey any information about Ceridian that is disparaging or in any way reflects negatively upon Ceridian, including without limitation in social media or otherwise; 

	
 
	
(b)
	
to provide, at Ceridian’s reasonable request, and for no additional consideration, reasonable assistance and cooperation with respect to any legal matter involving Ceridian, including without limitation, any litigation and/or any business matter related to his position, function or responsibilities during his employment with Ceridian; provided however that in the event the assistance and cooperation requested by Ceridian requires him to incur costs or expend monies, or otherwise results in a material financial cost, Ceridian will reimburse or otherwise compensate Goldschmied for the reasonable amount of such costs or expended monies; 

 

 

	
 
	
(c)
	
Goldschmied will return to Ceridian, prior to or on the Employment Separation Date, any company property including laptop, cellular phone, computing devices, credit and phone cards, documents and information, including company software and hardware, list of names and contacts, operational and technical information, and other data regarding the Ceridian, that he has in his possession either at his home or any other location outside the company.  

Section 6.Miscellaneous Provisions

6.01Any and all previous agreements, written or oral, between the parties or on their behalf relating to the engagement of Goldschmied by Ceridian are hereby terminated and cancelled, and each of the parties releases and forever discharges the other of and from all manner of actions, causes of action, claims and demands whatsoever under or in respect of any such agreement.  This Agreement constitutes the whole agreement between the parties with respect to Goldschmied’s engagement by Ceridian.  Notwithstanding the foregoing, the parties acknowledge and agree that the Restrictive Covenants and agreements between the parties related to stock options shall remain in full force and effect according to their terms.  No modifications, amendments or variations of the Agreement shall be effective or binding unless agreed to in writing and properly executed by the parties.  

6.02This Agreement shall not be assignable by Goldschmied except by the written consent of Ceridian.  The rights and obligations of this Agreement shall inure to the successors and assigns of the Released Parties.

6.03It is understood and agreed that either party may waive in writing any provision of this Agreement intended for such party’s sole benefit, but it is further agreed that any waiver of the performance of any condition by the other party shall not constitute a continuing waiver of any other or subsequent default, but shall include only the particular breach or default so waived.

6.04If Goldschmied breaches any term of this Agreement or the Restrictive Covenants, Ceridian shall be entitled to its available legal and equitable remedies, including but not limited to suspending and recovering any and all payments and benefits made or to be made under Section 2 of this Agreement, and payment by Goldschmied of Ceridian’s attorneys’ fees and costs.  If Ceridian seeks and/or obtains relief from an alleged breach of this Agreement, all of the provisions of this Agreement shall remain in full force and effect.  

6.05If any covenant or agreement herein is determined to be void or unenforceable in whole or in part, it shall not be deemed to affect or impair the enforceability or validity of any other covenant or agreement of this Agreement or any part thereof, and any such covenant or agreement may be modified by the court to the maximum extent permitted by law, or if modification is not permissible, severed from this Agreement without affecting the remainder of the Agreement. 

6.06This Agreement shall be governed by, construed and enforced in accordance with the laws of the Province of Ontario and all federal laws applicable therein.

6.07This Agreement was prepared by Ceridian.  Goldschmied represents by signing this Agreement that he has been given the full opportunity to obtain such independent legal and other advice as required to allow him to enter this Agreement, and accordingly the Agreement shall not be construed in favor of or against either party by reason of or to the extent to which any party or its legal counsel participated in its preparation.

6.08This Agreement may be executed by facsimile or electronic transmission and in counterparts, each of which shall be deemed an original and all of which shall constitute one instrument.

IN WITNESS WHEREOF this Agreement has been duly executed by the parties as of the date written above.

 

 

SIGNING PAGE TO FOLLOW

 

 

 

 

 

 

 

			
	
 
	
 
	
	
 
	
 
	
 

	
 
	
 
	
CERIDIAN DAYFORCE LTD.

 

Per:/s/ Susan Tohyama

Name:Susan Tohyama

Title:Chief Human Resource Officer

I have the authority to bind the company

 

	
 
	
 
	
CERIDIAN HCM HOLDING INC.

 

Per:/s/ Susan Tohyama

Name:Susan Tohyama

Title:Chief Human Resource Officer

I have the authority to bind the company

	
 

 

 

/s/ Stefanie Goldschmied

Witness Signature

Print Name: Stefanie Goldschmied
	
))))
	
 

 

 

/s/ Ozzie Goldschmied

OZZIE GOLDSCHMIED

 

 

 

SCHEDULE A

GENERAL RELEASE OF CLAIMS

I, Ozzie Goldschmied, for the sole consideration of the amounts set out in the written agreement titled “Separation Agreement, Release and Consulting Agreement” made amongst the undersigned, Ceridian Dayforce Ltd. and Ceridian HCM Holding Inc. and the terms and conditions of thereof (the “Settlement”), and such other good and valuable consideration, the receipt and sufficiency whereof by me is hereby expressly acknowledged, do hereby remise, release and forever discharge Ceridian Dayforce Ltd., Ceridian Holding and all of its parents, affiliates, subsidiaries, insurers and the officers, directors, shareholders, employees, trustees and agents of Ceridian Dayforce Ltd. and all of its parents, affiliates and subsidiaries including but not limited to Ceridian Dayforce Corporation, Ceridian Canada Ltd., Ceridian HCM., Inc. (hereinafter collectively referred to as the “Releasees”) of and from all actions, causes of action, debts, demands, dues, bonds, accounts, covenants, contracts and claims whatsoever which I ever had, now have or which I can, shall or may hereafter have for or by reason of any cause, matter or thing whatsoever existing up to the present time, including without limiting the generality of the foregoing any actions, causes of action, suits, debts, demands, or claims relating to my employment or the termination of my employment with any of the Releasees.  

I hereby confirm I have considered whether I may have a claim of harassment or discrimination against the Releasees pursuant to any applicable human rights legislation or otherwise, and confirm the consideration I am receiving under the Settlement fully satisfies any such claim, and I seek no further right or remedy in respect of any such claim.

I also agree not to make any claim or take any proceedings in respect of the claims released against any person, corporation or other entity who or which might claim contribution or indemnity from the Releasees.

I hereby specifically covenant, represent and warrant to the Releasees that I have no further claim against the Releasees for or arising out of my employment or cessation of employment which specifically includes any claims for notice of termination, pay instead of notice, severance pay, incentive compensation, interest and/or vacation pay or claims under The Employment Standards Act or The Human Rights Code, or the equivalent statutes applicable in my province of employment.  I also acknowledge that the monies paid to me include any severance pay and notice pay to which I am entitled under The Employment Standards Act or the equivalent statute in my province of employment.  In the event that I should hereafter make any claim or demand or commence or threaten to commence any action, claim or proceeding against the Releasees for or by reason of any cause, matter or thing, this document may be raised as a complete bar to any such claim, demand or action.

 

I agree:

	
 
	
(a)
	
I will not disclose the terms of the Settlement, including the circumstances leading up to the Settlement, the content of this Release, and/or the existence of the Settlement, to any person or corporation except to my spouse, for the purposes of dealing with Canada Revenue Agency (CRA), with a professional legal or 

 

 

	
 
		
financial advisor who agrees to be and is, professionally bound by confidentiality, or otherwise as required by law.  I agree that all third parties informed of the Settlement will be made aware of, and will be bound by, this confidentiality clause.  Confidentiality is a central term of the Settlement; and

	
 
	
(b)
	
I will not make, or cause or attempt to cause any other person to make, any statements, either written or oral, direct or indirect, or convey any information about the Releasees which is disparaging or which in any way reflects negatively upon the Releasees, whether true or not, except where expressly required by law. 

I covenant that in the event I breach either of clauses (a) or (b) above, I shall immediately repay to the Releasees 90% of the monetary payments under the Settlement and I further acknowledge the repayment obligation set out herein is payable as liquidated damages and not as a penalty.

I agree to indemnify the Releasees and save them harmless from any and all income tax, employment insurance or Canada Pension Plan charges or payment that may be claimed by either the Receiver General of Canada or CRA in respect of any failure on your part to withhold such charges or payments after said, and in the event that any proceedings are commenced against the Releasees, I agreed to indemnify them and save them harmless from any money that might be required to be paid by either CRA or the Receiver General of Canada or by any Court.  

I have read the above Release and have had the opportunity to obtain independent legal advice.  I understand that it contains a full and final release of all claims that I have or may have against the Releasees and that there is no admission of liability on the part of the Releasees and that any such liability is denied.

I agree and acknowledge in the event any provision of this Release is deemed void, invalid or unenforceable by a court of competent jurisdiction, the remaining provisions shall remain in full force and effect.

All of the foregoing shall ensure to the benefit of the Releasees, their successors and assigns, and be binding upon me and my respective heirs, executors, administrators, successors and assigns.

IN WITNESS WHEREOF I have duly executed this Release this                day of                                , 20           .

			
	
 

 

 

  Witness Signature

  Print Name:
	
))))
	
 

 

 

 

OZZIE GOLDSCHMIED

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