Document:

Lease agreement with BP Russia Wharf LLC and Brightcove Inc

 Exhibit 10.7 
 ATLANTIC WHARF 
 WATERFRONT BUILDING 

290 CONGRESS STREET 

BOSTON, MASSACHUSETTS 02210 
 I N D E X T O L E A S E 
 FROM 
 BP RUSSIA WHARF LLC 

TO 
 BRIGHTCOVE
INC. 

 TABLE OF CONTENTS 

 

													
	 ARTICLE I
	  	 	1	  
		 		 	 Basic Lease Provisions and Enumerations of Exhibits
	  	 	1	  
		 		 		  	1.1	  	Introduction	  	 	1	  
		 		 		  	1.2	  	Basic Data	  	 	1	  
		 		 		  	1.3	  	Enumeration of Exhibits	  	 	7	  
		
	 ARTICLE II
	  	 	8	  
		 		 	 Premises
	  	 	8	  
		 		 		  	2.1    	  	Demise and Lease of Premises	  	 	8	  
		 		 		  	2.2	  	Appurtenant Rights and Reservations	  	 	8	  
		
	 ARTICLE III
	  	 	10	  
		 		 	 Lease Term and Extension Options
	  	 	10	  
		 		 		  	3.1	  	Term	  	 	10	  
		 		 		  	3.2	  	Extension Option	  	 	11	  
		 		 		  	3.3	  	5th Floor Right of First Offer	  	 	13	  
		 		 		  	3.4	  	Intentionally Omitted.	  	 	17	  
		 		 		  	3.5	  	Tenant’s Contingent Termination Right	  	 	17	  
		
	 ARTICLE IV
	  	 	24	  
		 		 	 Condition of Premises; Alterations
	  	 	24	  
		
	 ARTICLE V
	  	 	24	  
		 		 	 Annual Fixed Rent and Electricity
	  	 	24	  
		 		 		  	5.1	  	Fixed Rent	  	 	24	  
		 		 		  	5.2	  	Allocation of Electricity Charges	  	 	25	  
		
	 ARTICLE VI
	  	 	25	  
		 		 	 Taxes
	  	 	25	  
		 		 		  	6.1	  	Definitions	  	 	25	  
		 		 		  	6.2	  	Tenant’s Share of Real Estate Taxes	  	 	27	  
		
	 ARTICLE VII
	  	 	28	  
		 		 	 Landlord’s Repairs and Services and Tenant’s Escalation Payments
	  	 	28	  
		 		 		  	7.1	  	Structural Repairs; Water Tightness	  	 	28	  
		 		 		  	7.2	  	Other Repairs to be Made by Landlord	  	 	29	  
		 		 		  	7.3	  	Services to be Provided by Landlord	  	 	29	  
		 		 		  	7.4	  	Operating Costs Defined	  	 	30	  
		 		 		  	7.5	  	Tenant’s Escalation Payments	  	 	33	  
		 		 		  	7.6	  	No Damage	  	 	36	  
		
	 ARTICLE VIII
	  	 	37	  
		 		 	 Tenant’s Repairs
	  	 	37	  
		 		 		  	8.1	  	Tenant’s Repairs and Maintenance	  	 	37	  

  
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	 ARTICLE IX
	  	 	38	  
		 		 	 Alterations
	  	 	38	  
		 		 		 	9.1  	  	Landlord’s Approval	  	 	38	  
		 		 		 	9.2  	  	Conformity of Work	  	 	40	  
		 		 		 	9.3  	  	Performance of Work, Governmental Permits and Insurance	  	 	40	  
		 		 		 	9.4  	  	Liens	  	 	41	  
		 		 		 	9.5  	  	Nature of Alterations	  	 	41	  
		 		 		 	9.6  	  	Increases in Taxes	  	 	43	  
		
	 ARTICLE X
	  	 	43	  
		 		 	 Parking
	  	 	43	  
		 		 		 	10.1  	  	Parking Privileges	  	 	43	  
		 		 		 	10.2  	  	Parking Charges	  	 	44	  
		 		 		 	10.3  	  	Garage Operation	  	 	44	  
		 		 		 	10.4  	  	Limitations	  	 	45	  
		
	 ARTICLE XI
	  	 	45	  
		 		 	 Certain Tenant Covenants
	  	 	45	  
		
	 ARTICLE XII
	  	 	50	  
		 		 	 Assignment and Subletting
	  	 	50	  
		 		 		 	12.1  	  	Restrictions on Transfer	  	 	50	  
		 		 		 	12.2  	  	Tenant’s Notice	  	 	50	  
		 		 		 	12.3  	  	Landlord’s Termination Right	  	 	51	  
		 		 		 	12.4  	  	Consent of Landlord	  	 	53	  
		 		 		 	12.5  	  	Exceptions	  	 	55	  
		 		 		 	12.6  	  	Profit on Subleasing or Assignment	  	 	56	  
		 		 		 	12.7  	  	Additional Conditions	  	 	56	  
		
	 ARTICLE XIII
	  	 	58	  
		 		 	 Indemnity and Insurance
	  	 	58	  
		 		 		 	13.1  	  	Tenant’s Indemnity	  	 	58	  
		 		 		 	13.2  	  	Tenant’s Risk	  	 	60	  
		 		 		 	13.3  	  	Tenant’s Commercial General Liability Insurance	  	 	60	  
		 		 		 	13.4  	  	Tenant’s Property Insurance	  	 	61	  
		 		 		 	13.5  	  	Tenant’s Other Insurance	  	 	62	  
		 		 		 	13.6  	  	Requirements for Tenant’s Insurance	  	 	62	  
		 		 		 	13.7  	  	Additional Insureds	  	 	63	  
		 		 		 	13.8  	  	Certificates of Insurance	  	 	63	  
		 		 		 	13.9  	  	Subtenants and Other Occupants	  	 	64	  
		 		 		 	13.10	  	No Violation of Building Policies	  	 	64	  
		 		 		 	13.11	  	Tenant to Pay Premium Increases	  	 	64	  
		 		 		 	13.12	  	Landlord's Insurance	  	 	64	  
		 		 		 	13.13	  	Waiver of Subrogation	  	 	65	  
		 		 		 	13.14	  	Tenant’s Work	  	 	66	  

  
 -ii-

													
	 ARTICLE XIV
	  	 	67	  
		 	 Fire, Casualty and Taking
	  	 	67	  
		 		 		 	14.1  	  	Damage Resulting from Casualty	  	 	67	  
		 		 		 	14.2  	  	Uninsured Casualty	  	 	69	  
		 		 		 	14.3  	  	Rights of Termination for Taking	  	 	70	  
		 		 		 	14.4  	  	Award	  	 	71	  
		
	 ARTICLE XV
	  	 	71	  
		 	 Default
	  	 	71	  
		 		 		 	15.1  	  	Tenant’s Default	  	 	71	  
		 		 		 	15.2  	  	Termination; Re-Entry	  	 	73	  
		 		 		 	15.3  	  	Continued Liability; Re-Letting	  	 	73	  
		 		 		 	15.4  	  	Liquidated Damages	  	 	74	  
		 		 		 	15.5  	  	Waiver of Redemption	  	 	75	  
		 		 		 	15.6  	  	Landlord’s Default	  	 	75	  
		
	 ARTICLE XVI
	  	 	76	  
		 	 Miscellaneous Provisions
	  	 	76	  
		 		 		 	16.1  	  	Waiver	  	 	76	  
		 		 		 	16.2  	  	Cumulative Remedies	  	 	76	  
		 		 		 	16.3  	  	Quiet Enjoyment	  	 	77	  
		 		 		 	16.4  	  	Surrender	  	 	77	  
		 		 		 	16.5  	  	Brokerage	  	 	77	  
		 		 		 	16.6  	  	Invalidity of Particular Provisions	  	 	78	  
		 		 		 	16.7  	  	Provisions Binding, etc	  	 	78	  
		 		 		 	16.8  	  	Recording; Confidentiality	  	 	78	  
		 		 		 	16.9  	  	Notices and Time for Action	  	 	79	  
		 		 		 	16.10	  	When Lease Becomes Binding and Authority	  	 	80	  
		 		 		 	16.11	  	Paragraph Headings	  	 	80	  
		 		 		 	16.12	  	Rights of Mortgagee	  	 	80	  
		 		 		 	16.13	  	Rights of Ground Lessor	  	 	81	  
		 		 		 	16.14	  	Notice to Mortgagee and Ground Lessor	  	 	81	  
		 		 		 	16.15	  	Assignment of Rents	  	 	82	  
		 		 		 	16.16	  	Status Report and Financial Statements	  	 	83	  
		 		 		 	16.17	  	Self-Help	  	 	84	  
		 		 		 	16.18	  	Holding Over	  	 	84	  
		 		 		 	16.19	  	Entry by Landlord	  	 	85	  
		 		 		 	16.20	  	Tenant’s Payments	  	 	85	  
		 		 		 	16.21	  	Late Payment	  	 	85	  
		 		 		 	16.22	  	Counterparts	  	 	86	  
		 		 		 	16.23	  	Entire Agreement	  	 	86	  
		 		 		 	16.24	  	Liability of Landlord and Tenant	  	 	86	  
		 		 		 	16.25	  	No Partnership	  	 	87	  
		 		 		 	16.26	  	Security Deposit	  	 	87	  
		 		 		 	16.27	  	Governing Law	  	 	91	  
		 		 		 	16.28	  	Waiver of Trial by Jury	  	 	91	  

  
 -iii-

 ATLANTIC WHARF 

THIS INSTRUMENT IS AN INDENTURE OF LEASE in which the Landlord and the Tenant are the parties hereinafter named, and which relates
to space in the building known as the “Office Tower” and the “Waterfront Office Building”. 

The parties to this instrument hereby agree with each other as follows: 

ARTICLE I 

Basic Lease Provisions and Enumerations of Exhibits 

 

	1.1	Introduction 

 The
following sets forth the basic data and identifying Exhibits elsewhere hereinafter referred to in this Lease, and, where appropriate, constitute definitions of the terms hereinafter listed. 

 

	1.2	Basic Data 

  

			
	Date:	  	June 15, 2011
		
	Landlord:	  	BP RUSSIA WHARF LLC
		
	Present Mailing Address of Landlord:	  	 c/o Boston Properties Limited Partnership
 800 Boylston Street, Suite 1900
 Boston, MA 02199-8103

		
	Landlord’s Construction Representative:	  	 Any one of: Mark Denman, Ben Lavery or
 Jeff Lowenberg.

		
	Tenant:	  	 BRIGHTCOVE INC., a Delaware

corporation

		
	Present Mailing Address of Tenant:	  	 One Cambridge Center, 12th Floor

Cambridge, MA 02142

		
	Tenant’s Construction Representative:	  	John Pilkington at A/E/C Solutions.
		
	Maximum Amount of Tenant Allowance:	  	$5,547,420.00

  
 Page 1

			
	Design and Construction Schedule:	  	
		
	 Interim Plans Date:
	  	August 1, 2011
		
	 Long Lead Items Release Date:
	  	November 4, 2011
		
	 Final Plans Date:
	  	September 30, 2011
		
	 Authorization to Proceed Date:
	  	November 22, 2011
		
	 Budget Date:
	  	November 22, 2011
		
	 Estimated Commencement Date:
	  	April 1, 2012
		
	 Initial Rent Credit Date:
	  	May 1, 2012
		
	 Increased Rent Credit Date:
	  	June 1, 2012
		
	 Outside Completion Date:
	  	August 1, 2012
		
	Commencement Date:	  	The date that is earlier of: (i) the Substantial Completion Date of Landlord’s Work, as defined in Exhibit B, or (ii) Tenant first commences to use the Premises, or any
portion thereof for business purposes.
		
	Term or Lease Term: (sometimes called the “Original
Lease Term”)	  	Unless extended or sooner terminated as hereinafter provided, the one hundred twenty (120) calendar month period, beginning on the Commencement Date and ending on the date
(“Expiration Date”) one hundred twenty (120) months after the Commencement Date, except that if the Commencement Date occurs on a day other than the first day of a calendar month, the Expiration Date shall be the last day of the
calendar month which is one hundred twenty (120) months after the Commencement Date.

  
 Page 2

			
	Extension Options:	  	Two (2) successive periods of five (5) years each, as provided in and on the terms set forth in Section 3.2 hereof.
		
	Lease Year:	  	A period of twelve (12) consecutive months, commencing as the Commencement Date, or as of any anniversary of the Commencement Date, except that the if the Commencement Date does
not occur on the first day of a calendar month, then Lease Year 10 shall commence as of the ninth anniversary of the Commencement Date and end as of the Expiration Date.
		
	Premises:	  	The third (3rd) floor and the fourth (4th) floor of the Building, in accordance with the floor plans annexed hereto as Exhibit D and incorporated herein by reference, as further defined and limited in Section 2.1 hereof.
		
	Rentable Floor Area of the Premises:	  	82,184 square feet.
		
	Annual Fixed Rent:	  	 (a) During the Original Lease Term at the following annual rates:

 
 (i) During the period commencing on the Commencement Date and
continuing through Lease Year 1, but subject to clause (b) below, the annual rate of $2,425,176.00 (being equal to the product of (x) $39.00 and (y) 62,184 square feet of the Premises);

 
 (ii) During Lease Year 2, at the annual rate of $2,815,176.00
(being equal to the product of (x) $39.00 and (y) 72,184 square feet of the Premises);
  
 (iii) During Lease Years 3, 4 and 5, at the annual rate of $3,205,176.00 (being equal to the product of (x) $39.00 and (y) 82,184 square feet of the Premises;
and

  
 Page 3

			
		  	 (iv) During Lease Years 6 to 10, at the annual rate of $3,533,912.00 (being equal to the product of (x) $43.00
and (y) 82,184 square feet of the Premises;
  
 (b) The parties hereby
acknowledge that, pursuant to a Termination Agreement with respect to Existing Lease, as hereinafter defined, of even date herewith, the term of the Existing Lease may terminate as of the Commencement Date of this Lease. If the Commencement Date of
this Lease occurs prior to April 1, 2012, then, notwithstanding anything to the contrary in this Lease contained, the amount of Annual Fixed Rent, Tax Excess, and Operating Cost Excess payable by Tenant with respect to the period commencing as
of the Commencement Date and ending as of March 31, 2012 shall be equal to the same amount of Annual Fixed Rent, Tax Excess and Operating Cost Excess which would have been payable under the Existing Lease during such period, but for such
Termination Agreement.
  
 (c) During the extension option periods (if any and
if exercised), as determined pursuant to Section 3.2.

		
	Tenant Electricity:	  	See Section 5.2
		
	Additional Rent:	  	All charges and other sums payable by Tenant as set forth in this Lease, in addition to Annual Fixed Rent.
		
	Total Rentable Floor Area of the Building:	  	762,500 square feet.
		
	“Lot” or “Site”:	  	That certain parcel(s) of land described in Exhibit A and as shown on Exhibit A-1.

  
 Page 4

			
	Building:	  	For the purposes of this Lease, the Building shall mean the office portions of “Atlantic Wharf” (hereinafter defined) being (i) the “Office Tower” as shown on
Exhibit A-1 and having an address at 280 Congress Street, Boston, Massachusetts 02210, and (ii) the “Waterfront Office Building” as shown on Exhibit A-1, and (iii) their respective office lobbies also shown on Exhibit A-1, as each of the
same may be altered, expanded, reduced or otherwise changed by Landlord from time to time. The Building consists of the Office Tower Unit and the Waterfront Office Unit described in the Secondary Condominium Documents, together with the rights
appurtenant to such units in the Condominium Documents.
		
	The Russia Building:	  	The building on the Lot having an address at 530 Atlantic Avenue, Boston, Massachusetts, as shown on Exhibit A-1 attached hereto.
		
	Russia Building Residential:	  	The residential portions of the Russia Building consisting of the ground floor residential lobby and Floors 2 through 7 thereof and as shown on said Exhibit A-1.
		
	Russia Building Retail:	  	The retail and related portions of the Russia Building located on the first floor thereof as shown on said Exhibit A-1.
		
	Waterfront Building Retail:	  	The retail related portions of the Waterfront Office Building located on the first floor thereof as shown on said Exhibit 1 and referred to as the Retail Unit in the Secondary
Condominium Documents.
		
	Public Spaces:	  	The following areas: (1) Waterfront Square, (2) Channel Concierge, (3) the Multi Media Presentation Area, and (4) such other public spaces as Landlord and/or its affiliates shall
from time to time designate, all presently shown on Exhibit A-1, as same may be relocated or adjusted.

  
 Page 5

			
	Garage:	  	Those portions of Atlantic Wharf consisting of Garage Levels P-1 through P-6 dedicated to parking excluding, however, all portions thereof utilized for Atlantic Wharf service
operations such as utility rooms and back of the house areas. The Garage is shown on Exhibit A-1.
		
	Atlantic Wharf:	  	For purposes of this Lease, Atlantic Wharf shall mean the Lot, the Building, the Russia Building (including the Russia Building Residential and the Russia Building Retail), the
Waterfront Building Retail, the Public Spaces, and the Garage together with all common areas and other improvements thereon, as the same may be altered, expanded, reduced or otherwise changed from time to time.
		
	Condominium:	  	Tenant acknowledges that the Lease is subject to The Atlantic Wharf Primary Condominium and The Atlantic Wharf Commercial Secondary Condominium (collectively “the
Condominiums”). The Atlantic Wharf Primary Condominium was established pursuant to that certain Master Deed of The Atlantic Wharf Primary Condominium dated as of December 15, 2010 and recorded with the Suffolk County Registry of Deeds in Book
47342, Page 46, and that certain Declaration of Trust of The Atlantic Wharf Primary Condominium Trust dated as of December 15, 2010 and recorded with such registry of deeds in Book 47342, Page 114. The Atlantic Wharf Commercial Secondary Condominium
was established pursuant to that certain Master Deed of The Atlantic Wharf Commercial Secondary Condominium dated as of December 15, 2010 and recorded with such registry of deeds in Book 47342, Page 171, and that certain Declaration of Trust of The
Atlantic

  
 Page 6

			
	 	  	Wharf Commercial Secondary Condominium Trust dated as of
December 15, 2010 and recorded with such registry of deeds in
Book 47342, Page 234 (the “Secondary
Condominium
Documents”).
		
	Permitted Use:	  	General office purposes.
		
	Broker:	  	 FHO Partners, LLC
 One
International Place
 Boston, MA 02110

		
	Security Deposit:	  	$2,403,882.00, payable in accordance with and to be held subject to the provisions of Section 16.26
		
	Existing Lease:	  	Lease dated February 28, 2007, as amended, of premises at One Cambridge Center, Cambridge, Massachusetts by and between Trustees of One Cambridge Center Trust (“Existing
Landlord”), as Landlord, and Tenant

  

	1.3	Enumeration of Exhibits 

The following Exhibits attached hereto are a part of this Lease, are incorporated herein by reference, and are to be treated as a part of
this Lease for all purposes. Undertakings contained in such Exhibits are agreements on the part of Landlord and Tenant, as the case may be, to perform the obligations stated therein to be performed by Landlord and Tenant, as and where stipulated
therein. 
  

							
	 Exhibit A
	  	 	—	  	  	Legal Description of Atlantic Wharf
			
	 Exhibit B
	  	 	—	  	  	Work Agreement
			
	 Exhibit B-1
	  	 	—	  	  	Tenant Plan and Working Drawing Requirements
			
	 Exhibit B-2
	  	 	—	  	  	Approved General Contractors
			
	 Exhibit C
	  	 	—	  	  	Landlord’s Services
			
	 Exhibit D
	  	 	—	  	  	Floor Plans
			
	 Exhibit E
	  	 	—	  	  	Form of Declaration Affixing the Commencement Date of Lease

  
 Page 7

							
	 Exhibit F
	  	 	—	  	  	Memorandum Re: Procedure for Allocation of Electricity Costs.
			
	 Exhibit G
	  	 	—	  	  	Forms of Lien Waivers
			
	 Exhibit H
	  	 	—	  	  	Broker Determination of Prevailing Market Rent
			
	 Exhibit I
	  	 	—	  	  	List of Mortgages
			
	 Exhibit J
	  	 	—	  	  	Form of Letter of Credit
			
	 Exhibit K
	  	 	—	  	  	Form of Certificate of Insurance
			
	 Exhibit L
	  	 	—	  	  	Form of Subordination, Attornment and Non-Disturbance Agreement
			
	 Exhibit M
	  	 	—	  	  	Operating Expense Exclusions
			
	 Exhibit N
	  	 	—	  	  	Elevation for Tenant’s Permitted Street Signage

 ARTICLE II 
 Premises 
  

	2.1	Demise and Lease of Premises 

 Landlord hereby demises and leases to Tenant, and Tenant hereby hires and accepts from Landlord, the Premises in the Building, excluding any portion of exterior walls except the inner surfaces thereof,
the common stairways and stairwells, elevators and elevator walls, mechanical rooms, electric and telephone closets, janitor closets, and pipes, ducts, shafts, conduits, wires and appurtenant fixtures serving exclusively or in common other parts of
the Building, and if the Premises includes less than the entire rentable area of any floor, excluding the common corridors, elevator lobbies and toilets located on such floor. Tenant shall have the non-exclusive right, to the extent that the same
are available and in common with others entitled thereto, to use the fan rooms, janitorial, electrical, telephone and telecommunications closets, conduits, risers, shafts, and plenum spaces serving the Building. Tenant’s right to use such
common areas are subject to the rules and regulations promulgated by Landlord from time to time in accordance with Section 11.3 hereof, subject, however, to the extent Tenant is given prior written notice thereof. 

 

	2.2	Appurtenant Rights and Reservations  

 Subject to Landlord’s right to change or alter any of the following in Landlord’s reasonable discretion as herein provided, Tenant shall have, as appurtenant to the Premises, the non-exclusive
right to use in common with others entitled thereto, but not 

  
 Page 8

 
in a manner or extent that would materially interfere with the normal operation and use of the Building as a multi-tenant office building and subject to reasonable rules of general applicability
to tenants of the Building or Atlantic Wharf from time to time made by Landlord (which shall include any successor owner of the Building or Atlantic Wharf of which Tenant is given notice): (a) the common lobbies, corridors, stairways, and
elevators of the Building, and, subject to Section 2.1, the fan rooms, janitorial, electrical, telephone and telecommunications closets, pipes, ducts, shafts, conduits, risers, shafts, and plenum spaces serving the Premises in common with
others, (b) the loading areas serving the Building and the common walkways and driveways necessary for access to the Building, (c) if the Premises include less than the entire rentable floor area of any floor, the common toilets, corridors
and elevator lobby of such floor and (d) the plazas and other common areas of Atlantic Wharf as Landlord makes the same available from time to time to tenants or the public; and no other appurtenant rights and easements. No changes shall be
made to the public or common areas that would unreasonably interfere with Tenant’s access to or use of the Premises for the purposes of this Lease or that would adversely affect the quality of the public or common areas as a mixed-use project
consistent with other first class mixed-use projects in the Central Business District of Boston. To the extent that, during the Lease Term, Landlord is required, pursuant to the Chapter 91 License to which Atlantic Wharf is subject (as the same may
be modified by agreement or waiver, from time to time), to operate any amenities open to the public (e.g., the multi-media room), Landlord shall comply with such obligation. Notwithstanding anything to the contrary herein, Landlord may establish
reasonable rules and regulations for access to the Building by telecommunications providers providing services to tenants in the Building, which may include reasonable fees for Landlord’s providing access to closets, shafts, ducts or similar
spaces reasonably necessary for the provision of such services, but such rules and regulations and Landlord shall not unreasonably deny access to the Building to any particular service provider proposing to provide services to Tenant except on the
basis of a reasonably documented pattern of misconduct or damage to persons or property in buildings, which may include Atlantic Wharf or other properties owned by Landlord or its affiliates. Notwithstanding the foregoing, Landlord agrees to permit
Cogent Communications to have telecommunications access to the Premises and the Building for the purpose of providing telecommunications service to Tenant. Provided that and so long as Tenant’s telecommunications service provider
(“Provider”) does not provide telecommunications service to any other tenant of the Building, Landlord shall not require such Provider to pay any fees for such access. 

Landlord reserves for its benefit and the benefit of any other owner the right from time to time, without unreasonable interference with
Tenant’s use: (a) to install, use, maintain, repair, replace and relocate for service to the Premises and other parts of the Building, or either, pipes, ducts, conduits, wires and appurtenant fixtures, wherever located in the Premises or
the Building, and (b) to alter or relocate any other common facility, provided that substitutions are substantially equivalent or better. Installations, replacements and relocations referred to in clause (a) above shall be located so far
as practicable in the central core area of the Building, above ceiling surfaces, below floor surfaces or within 

  
 Page 9

 
perimeter walls of the Premises, and in any event in a manner that does not reduce the usable area of the Premises (other than to a de minimis extent). Except in the case of emergencies or for
normal cleaning and maintenance operations, Landlord shall give Tenant reasonable advance notice of any of the foregoing activities which require work in the Premises and to conduct such work during non-business hours except if work can be conducted
in a manner that does not materially interfere with Tenant’s business. 
 Landlord reserves and excepts for its benefit and
the benefit of any others entitled thereto (including, without limitation, owners and tenants of condominium units of the Condominiums (the “Condominium Units”) all rights of ownership (as the case may be) and use in all respects outside
the Premises, including without limitation, the Building and all other structures and improvements and plazas and common areas in Atlantic Wharf, except that at all times during the term of this Lease, subject to Force Majeure, as defined in
Section 14.1, Landlord’s rules and regulations promulgated pursuant to Section 11.3, and Landlord’s reasonable security requirements, Tenant shall have a reasonable means of access from a public street to the Premises and the
Garage and the right to use the amenities available from time to time to tenants and occupants in the Building. Without limitation of the foregoing reservation of rights by Landlord, it is understood that in its sole discretion Landlord or the
owners of Condominium Units pursuant to the requirements of the applicable Condominium Documents, as the case may be, shall have the right to change and rearrange the plazas and other common areas of the Building and Atlantic Wharf, to reasonably
change, relocate and eliminate facilities therein, to reasonably permit the use of or lease all or part thereof for exhibitions and displays and to sell, lease or dedicate all or part thereof to public use; and further that Landlord or the owners of
Condominium Units pursuant to the requirements of the applicable Condominium Documents or any other owner, as the case may be, shall have the right to make changes in, additions to and eliminations from the Building and other structures and
improvements in Atlantic Wharf, the Premises excepted; provided however that Tenant, its employees, agents, clients, customers, and invitees shall at all times have reasonable access to the Premises, the Building and the Garage through lobby areas
and entrances, as the case may be, applicable to the Building and the Premises generally consistent with Class A office Buildings in the Central Business District in Boston, except during reasonable temporary periods of repair, renovation or
construction, and subject to Force Majeure, Landlord’s rules and regulations promulgated pursuant to Section 11.3, and Landlord’s reasonable security requirements. Landlord is not under any obligation to permit individuals without
proper building identification or guests of Tenant who are not properly identified to enter the Building after 6:00 p.m. 

ARTICLE III 
 Lease Term and Extension Options 
  

	3.1	Term 

 The Term of this
Lease shall be the period specified in Section 1.2 hereof as the “Lease Term,” unless sooner terminated or extended as herein provided. 

  
 Page 10

 As soon as may be convenient after the Commencement Date has been determined, Landlord and
Tenant agree to join with each other in the execution, in the form of Exhibit E hereto, of a written Commencement Date Agreement in which the Commencement Date and specified Lease Term of this Lease shall be stated. If Tenant shall fail to execute
such Agreement, the Commencement Date and Lease Term shall be as reasonably determined by Landlord in accordance with the terms of this Lease. 
  

	3.2	Extension Option 

  

	 	(A)	On the conditions (which conditions Landlord may waive by written notice to Tenant) that both at the time of exercise of the applicable herein described option to
extend and as of the commencement of the applicable Extended Term in question (i) there exists no “Event of Default” (defined in Section 15.1) and (ii) this Lease is still in full force and effect, and (iii) Tenant has
neither assigned this Lease nor sublet more than fifty percent (50%) of the Rentable Floor Area of the Premises (except for an assignment or subletting permitted without Landlord’s consent under Section 12.5 hereof), Tenant shall have
the right to extend the Term hereof upon all the same terms, conditions, covenants and agreements herein contained (except that the Annual Fixed Rent which shall be adjusted during the option period as hereinbelow set forth and except that there
shall be no further option to extend except as set forth herein) for two (2) periods of five (5) years each, as hereinafter set forth. Each option period is sometimes herein referred to as an “Extended Term.” Notwithstanding any
implication to the contrary Landlord has no obligation to make any additional payment to Tenant in respect of any construction allowance or the like or to perform any work to the Premises as a result of the exercise by Tenant of any such option, the
parties hereby agreeing, however, that the amount (if any) of any construction allowance and/or work performed to the Premises by Landlord in connection with an Extended Term shall be a factor in determining the Prevailing Market Rent Term.

  

	 	(B)	 If Tenant desires to exercise an option to extend the Term, then Tenant shall give notice (“Exercise Notice”) to Landlord, not earlier than
eighteen (18) months (except in connection with an exercise pursuant to Sections 3.3 or 3.4 of this Lease) nor later than fifteen (15) months prior to the expiration of the then Term of this Lease (as it may have been previously extended)
exercising such option to extend. Within thirty (30) days following Landlord’s receipt of Tenant’s Exercise Notice but in no event earlier than twenty one months prior to the expiration of the then current Term, Landlord shall give
notice to Tenant of Landlord’s good faith proposal of the Prevailing Market Rent to be applied for the Annual Fixed Rent for the applicable Extended Term (“Landlord’s Rent Quotation”). For all purposes of this Lease,
“Prevailing Market Rent” shall mean the arms-length fair market annual rental rate per rentable square foot of (i) the Premises in connection Tenant’s exercise of its extension options under this Section 3.2, or
(ii) the Available 5th Floor ROFO Space in connection
with Tenant’s exercise of its rights 

  
 Page 11

	 	
under Section 3.3 of this Lease, or (iii) any expansion space leased in connection with Tenant’s rights under Section 3.5 of this Lease, as applicable under leases and
amendments then being entered into with private sector tenants in Class A office buildings in the Central Business District of Boston, taking into account all then relevant factors (including, without limitation, those set forth in Exhibit
H). If at the expiration of thirty (30) days after the date when Landlord provides such quotation to Tenant (the “Negotiation Period”), during which period Landlord and Tenant agree to negotiate in good faith with respect to the
Prevailing Market Rent applicable to the Premises, Landlord and Tenant have not reached agreement on a determination of the Prevailing Market Rent for such Extended Term and executed a written instrument extending the Term of this Lease pursuant to
such agreement, then Tenant shall have the right, for thirty (30) days following the expiration of the Negotiation Period, to make a request to Landlord for a broker determination (the “Broker Determination”) of the Prevailing Market
Rent for such Extended Term, which Broker Determination shall be made in the manner set forth in Exhibit H. If Tenant timely shall have requested the Broker Determination, then the Annual Fixed Rent for the applicable Extended Term shall be the
greater of (a) the Prevailing Market Rent as determined by the Broker Determination, with a Base Year for Operating Expenses for such Extended Term which is the calendar year immediately preceding the calendar year in which such Extended Term
commences and a Base Year for Taxes for such Extended Term which is the fiscal tax year immediately preceding the fiscal tax year immediately preceding fiscal tax year in which such Extended Term commences (“Prevailing Market Terms”), or
(b) the product of $41.00 and the Rentable Floor Area of the Premises, with a Base Year for Operating Expenses for such Extended Term which is same calendar year as the Base Year in effect immediately preceding the commencement of such Extended
Term and a Base Year for Taxes which is which is same fiscal tax year as the Base Year in effect immediately preceding the commencement of such Extended Term (“Floor Terms”). If Tenant does not timely request the Broker Determination, then
the Annual Fixed Rent during the applicable Extended Term shall be equal to the greater of (a) Landlord’s Rent Quotation or (b) the product of $41.00 and the Rentable Floor Area of the Premises. 

 

	 	(C)	 Upon the giving of the Exercise Notice by Tenant to Landlord exercising Tenant’s applicable option to extend the Lease Term in accordance with the
provisions of Section 3.2 (B) above, then this Lease and the Lease Term hereof shall automatically be deemed extended, for the applicable Extended Term, without the necessity for the execution of any additional documents, except that
Landlord and Tenant agree to enter into an instrument in writing setting forth the Annual Fixed Rent for the applicable Extended Term as determined in the relevant manner set forth in this Section 3.2; and in such event all references herein to
the Lease Term or the Term of this Lease shall be construed as referring to the Lease Term, as so extended, unless the context clearly otherwise requires, and except that: (i) there shall be no further option to extend the Lease Term beyond the
two (2) Extended Option periods provided for in this Section 3.2, and (ii) if the Base Rent payable 

  
 Page 12

	 	
by Tenant in respect of such Extended Term is based upon Prevailing Market Rate, then the Base Year for Operating Expenses for such Extended Term shall be the calendar year immediately preceding
the calendar year in which such Extended Term commences and the Base Year for Taxes for such Extended Term shall be the fiscal tax year immediately preceding the fiscal tax year immediately preceding fiscal tax year in which such Extended Term
commences. Notwithstanding anything contained herein to the contrary, in no event shall Tenant have the right to exercise more than one extension option at a time and, further, Tenant shall not have the right to exercise its second extension option
unless it has duly exercised its first extension option and in no event shall the Lease Term hereof be extended for more than ten (10) years after the expiration of the Original Lease Term hereof. 

 

	3.3	 5th Floor Right of First Offer 

  

	 	(A)	 5th Floor Right of First Offer Conditions. On the conditions (which conditions Landlord may waive by written notice to Tenant at any time) that
both at the time that any Available 5th Floor ROFO Space
would be offered to Tenant and as of the date upon which the Available 5th Floor ROFO Space which Tenant has elected to lease pursuant to this Section 3.3 would have otherwise become incorporated into the Premises: (i) there exists no Event of Default, (ii) this
Lease is still in full force and effect, and (iii) Tenant has neither assigned this Lease nor sublet more than thirty five percent (35%) of the Rentable Floor Area of the Premises then leased to Tenant (excluding any sublease or assignment
to a Permitted Transferee which is permitted in accordance with Section 12.5), prior to offering to lease or accepting any offer to lease the Available 5th Floor ROFO Space to a third party other than a third party with 5th Floor Right of First Offer Prior Rights (as hereinafter defined),
Landlord will first offer such Available 5th Floor ROFO
Space to Tenant for lease pursuant to this Section 3.3 (“Tenant’s 5th Floor Right of First Offer”). 

 

	 	(B)	 Definition of
5th Floor Right of First Offer Space. The parties hereby acknowledge that, as of the Execution Date of this Lease, the entire 5th floor of the Waterfront Building is leased to another tenant of the Building, Payette Associates
(“Payette”). For the purposes hereof, an “Available 5th Floor ROFO Space” shall be defined as any leasable space on the 5th floor of the Building, when Landlord determines in good faith to make any such space available for lease after the
occupancy of Payette, and anyone claiming by, through, or under Payette; provided, however, that Landlord shall have the right to extend the term or otherwise modify or amend Landlord’s lease with Payette.

  

	 	(C)	 Exercise of Right to Lease Available 5th Floor ROFO Space. Landlord shall give Tenant written
notice (“Landlord’s 5th Floor ROFO Notice”) at the time that Landlord determines in good faith, as aforesaid, that any particular Available 5th Floor ROFO Space will become available for lease. Landlord’s 5th Floor ROFO Notice shall set forth (i) Landlord’s good
faith quotation of the Prevailing Market 

  
 Page 13

	 	
Rent therefore to be the proposed Annual Fixed Rent for the Available
5th Floor ROFO Space, and (ii) all other material
terms and conditions (which need not include a tenant improvement allowance, the parties hereby agreeing that the amount of tenant improvement allowance, if any, provided by Landlord in connection with Tenant’s demise of an Available 5th Floor ROFO Space shall be a factor in determining the Prevailing
Market Rate for such Available 5th Floor ROFO Space) that
will apply to the Available 5th Floor ROFO Space, all of
which shall be the terms and conditions of this Lease (i) except for any conditions unique to such Available
5th Floor ROFO Space and set forth in Landlord’s
5th Floor ROFO Notice, and (ii) except as set forth
in or subject to the provisions of Section 3.3(D) below. Tenant shall have the right, exercisable upon written notice (“Tenant’s 5th Floor ROFO Exercise Notice”) given to Landlord
within twenty (20) days after the receipt of Landlord’s 5th Floor ROFO Notice, (i) to lease all of the Available 5th Floor ROFO Space, on the terms set forth in Landlord’s 5th Floor ROFO Notice, (ii) to lease all of the Available 5th Floor ROFO Space, but reject the quotation of annual fixed rent set forth in Landlord’s 5th Floor ROFO Notice and instead elect to submit the same to a Broker Determination in accordance with the provisions of
Exhibit H attached hereto to determine the Prevailing Market Rent for the Available 5th Floor ROFO Space, or (iii) reject Landlord’s 5th Floor ROFO Notice. If Tenant fails timely to give Tenant’s
5th Floor ROFO Exercise Notice, Landlord shall be free to
lease the Available 5th Floor ROFO Space (or any portion
thereof) to a third party and Tenant shall have no further right to lease such Available 5th Floor ROFO Space (or such portion thereof) pursuant to this Section 3.3, unless: 

 (x) no such third party lease is executed for the entirety of the Available
5th Floor ROFO Space that was previously offered to Tenant
during the 5th Floor ROFO Space Leasing Period, as
hereinafter defined, (in which event Tenant shall again have a right of first offer to lease the entirety, or the portion of the Available 5th Floor ROFO Space which has not been leased to a third party, as the case may be, of the Available 5th Floor Space in accordance with the provisions of this
Section 3.3); or 
 (y) the term of any such third party lease, as from time to time extended or
renewed, has expired or sooner ended, in which event the portion of the 5th floor leased to such third party shall again become Available
5th ROFO Space and Tenant shall again have a right of
first offer to lease such Available 5th Floor ROFO Space
in accordance with the provisions of this Section 3.3. 
 The “5th Floor ROFO Space Leasing Period” with respect to any Landlord’s 5th Floor ROFO Notice shall be the period ending as of the date
(“5th Floor ROFO Space Leasing Period Expiration
Date”) twelve (12) months after the date that Tenant fails timely to accept the terms of such Landlord’s 5th Floor ROFO Notice, as aforesaid, except that if, as of the date twelve (12) months after the date that Tenant
fails timely to accept the terms of such Landlord’s
5th Floor ROFO

  
 Page 14

 
Notice, Landlord is engaged in good faith negotiations with a third party to enter into an agreement to lease the Available 5th Floor ROFO Space in question, then such 5th Floor ROFO Space Lease Expiration Date shall be the date fifteen (15) months after the date that Tenant fails
timely to accept the terms of such Landlord’s 5th
Floor ROFO Notice. Upon the timely giving of such Tenant’s 5th Floor ROFO Exercise Notice, Landlord shall lease and demise to Tenant and Tenant shall hire and take from Landlord, the entirety of such Available
5th Floor ROFO Space commencing upon the Term Commencement
Date for such Available 5th Floor ROFO Space (as
determined pursuant to Section 3.3(D)(1) below), upon all of the same terms and conditions of the Lease, except as hereinafter set forth. In any case in which Tenant shall have waived said right of first offer or said right shall have expired,
Tenant shall, upon request of Landlord, execute and deliver in recordable form an instrument indicating such waiver or expiration, subject to Tenant’s continuing rights under this Section 3.3, which instrument shall be conclusive in favor
of all persons relying thereon in good faith. 
 Notwithstanding anything to the contrary provided in this
Section 3.3 (including, but not limited to, Section 3.3(C)), if the Available 5th Floor ROFO Space shall be available for delivery to Tenant at any time during the last thirty six (36) months of the Original Lease Term or the first Extended Term, as the case may be, then:
(a) if Tenant has no further right to extend the term of the Lease (i.e. because Tenant’s right to extend the term of the Lease pursuant to Section 3.2 has been irrevocably waived by Tenant or has lapsed unexercised), then Tenant
shall not be entitled to lease the Available 5th Floor
ROFO Space under this Section 3.3, (b) if Tenant then has a right to extend the term of the Lease pursuant to Section 3.2 which has not either lapsed unexercised or been irrevocably waived), then Tenant shall have no right to lease
such Available 5th Floor ROFO Space unless, prior to, or
simultaneously with, the giving of Tenant’s 5th Floor
ROFO Exercise Notice, Tenant timely and properly exercises such extension option. 
  

	 	(D)	 Lease Provisions Applying to Available 5th Floor ROFO Space. The leasing to Tenant of such
Available 5th Floor ROFO Space shall be upon all of the
same terms and conditions of the Lease, except as follows: 

  

	 	1.	 Commencement Date; Occupancy Date. The term as to the Available 5th Floor ROFO Space shall be co-terminous with the term of this Lease subject, however, to the last paragraph of
Section 3.3(C) above. The Commencement Date in respect of such Available 5th Floor ROFO Space shall be the later of: (x) the commencement date in respect of such Available 5th Floor ROFO Space specified in Landlord’s 5th Floor ROFO Notice (“Estimated 5th Floor ROFO Commencement Date”) or (y) the date that Landlord delivers such Available 5th Floor ROFO Space to Tenant in the condition specified in
Landlord’s 5th Floor ROFO Notice or as otherwise
provided in Section 3.3(D)(3) below. 

  
 Page 15

 Tenant’s 5th Floor ROFO Rescission Right. If the Commencement Date in
respect of an Available 5th Floor ROFO Space does not
occur on or before the date one hundred fifty (150) days after the Estimated 5th Floor ROFO Commencement Date for such Available 5th Floor ROFO Space, Tenant shall have the right (“Tenant’s
5th Floor ROFO Rescission Right”) to cancel Tenant’s demise of such Available 5th Floor ROFO Space. Tenant may exercise Tenant’s 5th Floor ROFO Rescission Right by giving Landlord thirty (30) days written rescission notice (“Tenant’s 5th Floor ROFO Rescission Notice”). If the Commencement
Date with respect to such Available 5th Floor ROFO Space
occurs on or before the date thirty (30) days after Landlord receives such Tenant’s 5th Floor ROFO Rescission Notice, then Tenant’s 5th Floor ROFO Rescission Notice shall be void and without force or effect, and Tenant shall have no right to cancel its demise of such Available 5th Floor ROFO Space pursuant to this Section 3.3(D)(1). If the Commencement Date with respect to such Available
5th Floor ROFO Space does not occur on or before the date
thirty (30) days after Landlord receives such Tenant’s 5th Floor ROFO Rescission Notice, then the Tenant’s demise of such Available
5th Floor ROFO Space shall be cancelled as of the date
(“5th Floor ROFO Effective Cancellation Date”) which is thirty (30) days following such notice, and neither party shall have any further liability or obligation to the other party with respect to such Available 5th Floor ROFO Space. The effect of Tenant’s exercise of
Tenant’s 5th Floor ROFO Rescission Right shall be the
same as if Tenant had failed timely to accept Landlord’s offer to lease such Available 5th Floor ROFO Space, except that, as provided in Section 3.5(C), Tenant’s Termination Right may be revived. 

 

	 	2.	 Fixed Annual Rent. The Annual Fixed Rent in respect of such Available 5th Floor ROFO Space shall be as set forth in Landlord’s 5th Floor ROFO Notice, unless within Tenant’s 5th Floor ROFO Exercise Notice Tenant elects to submit the same to a Broker Determination in accordance with the
provisions of Exhibit H attached hereto to determine the Prevailing Market Rent as of the Commencement Date for such Available 5th Floor ROFO Space, in which event the Annual Fixed Rent in respect of such Available 5th Floor ROFO Space shall be the Prevailing Market Rent for such
Available 5th Floor ROFO Space as of the Commencement Date
with respect to such Available 5th Floor ROFO Space
determined in accordance with Exhibit H. Both parties shall be bound by such Broker Determination. 

  

	 	3.	 Base Years. The Base Year with respect to Operating Expenses for such Available 5th Floor ROFO Space shall be the calendar year immediately preceding the Commencement Date with respect to such Available
5th Floor ROFO Space. The Base Year with respect to
Landlord’s Tax Expenses for such Available 5th Floor
ROFO Space shall be the fiscal/tax year immediately preceding the Commencement Date with respect to such Available
5th Floor ROFO Space. 

  
 Page 16

	 	4.	 Condition of Available
5th Floor ROFO Space. Tenant shall take such Available 5th Floor ROFO Space “as-is” in its then (i.e., as of the date of delivery) state of construction, finish, and decoration, without any obligation on the part of Landlord to construct or prepare any
Available 5th Floor ROFO Space for Tenant’s
occupancy, and with no obligation on the part of Landlord to provide any Landlord Contribution in respect of such Available
5th Floor ROFO Space unless otherwise specified in
Landlord’s 5th Floor ROFO Notice or otherwise
mutually agreed by Landlord and Tenant, and in either such case the foregoing shall be a factor in the calculation of the Prevailing Market Rent. Notwithstanding the foregoing, Landlord shall in all events deliver possession of the Available
5th Floor ROFO Space to Tenant vacant, broom clean, free
of all Hazardous Materials, property, tenants and occupants. 

  

	 	(E)	 5th Floor Right of First Offer Prior Rights. Notwithstanding anything herein to the contrary, Tenant’s 5th Floor Right of First Offer is subject and subordinate to the
following: (i) the rights (whether such rights are designated as an extension right, right of first offer, right of first refusal, expansion option or otherwise) of Payette to extend, renew, amend the term of or otherwise modify or amend its
lease of such Available 5th Floor ROFO Space,
(ii) the existing rights as of the date of this Lease of Communispace Corporation to lease such Available
5th Floor ROFO Space, and (iii) the existing rights
as of the date of this Lease of Wellington Management Company to lease such 5th Floor Space (collectively called the “5th Floor Right of First Offer Prior Rights”). 

  

	3.4	Intentionally Omitted. 

  

	3.5	Tenant’s Contingent Termination Right 

  

	 	(A)	Subject to the provisions of this Section 3.5, Tenant shall have the following right (“Tenant’s Termination Right”) to terminate the term of
the Lease as of the last day of the seventh Lease Year, or later pursuant Section 3.5(C) (“Effective Termination Date”) by: (i) giving written notice (“Tenant’s Termination Notice”) to Landlord on or
before the date that is fifteen (15) months prior to the Effective Termination Date, (ii) paying fifty (50%) of the Termination Payment, as hereinafter defined, to Landlord at the time that Tenant gives the Tenant’s Termination
Notice to Landlord, and (iii) paying the balance of the Termination Payment (“Balance of Termination Payment”) to Landlord on or before the Effective Termination Date. 

 

	 	(B)	Termination Option Conditions. It shall be a condition (“Termination Option Conditions”) to Tenant’s right to exercise Tenant’s
Termination Right under this Section 3.5 that the following conditions are all satisfied: 

  
 Page 17

 (i) there is, as of the time that Tenant gives Tenant’s Termination
Notice, as hereinafter defined, no uncured monetary or material non-monetary Event of Default in existence and continuing; 
 (ii) there is, as of the Effective Termination Date, no uncured monetary or material non-monetary default by Tenant in its obligations under the Lease in existence and continuing of which Landlord has
given Tenant written notice prior to the Effective Termination Date (“Noticed Tenant Default”), provided however, that if Tenant has not cured a Noticed Tenant Default on or before the Effective Termination Date, Tenant shall
nevertheless be deemed to have satisfied the Termination Option Condition set forth in this clause (ii) if Tenant cures such Noticed Tenant Default on or before the last day of the grace period for curing such Noticed Tenant Default (i.e. as
set forth in Section 15.1) even if such cure occurs after the Effective Termination Date; and 
 (iii)
Landlord has been unable to satisfy the Tenant’s Expansion Needs Condition, as hereinafter defined. 
 The Termination
Option Conditions under clauses (i) and (ii) above are for the sole benefit of Landlord; therefore, Landlord may, at its election, waive either of such Termination Option Conditions. 

 

	 	(C)	 Tenant’s Expansion Needs Condition. The parties intend that Tenant will have the right to exercise Tenant’s Termination Right only if
Landlord is unable to satisfy Tenant’s expansion needs, as expressly set forth in this Section 3.5(C). The “Tenant’s Expansion Needs Condition” will only be deemed to have been satisfied by Landlord if either:
(i) Tenant does not, during the Expansion Request Period, as hereinafter defined, give Landlord a written request (“Expansion Request”) to Landlord to lease expansion space in the Waterfront Office Building containing at least
10,000 rentable square feet, or (ii) Tenant gives an Expansion Request to Landlord during the Expansion Request Period, and Landlord delivers to Tenant a written offer (“Landlord’s Expansion Offer”) to lease Acceptable
Expansion Space, as hereinafter defined; provided however, that if Tenant gives Landlord a timely Expansion Request and, in response, if Landlord gives Tenant a Landlord’s Expansion Offer to lease Acceptable Expansion Space, but Tenant’s
demise of such Acceptable Expansion Space is cancelled by reason of the exercise, by Tenant of its Tenant’s Acceptable Expansion Space Rescission Right or Tenant’s 5th Floor ROFO Rescission Right, as applicable, then Landlord shall not be deemed to have satisfied Tenant’s
Expansion Needs Condition based upon such Landlord’s Expansion Offer. For the purposes of this Section 3.5(C), Tenant shall have the right to give Landlord only one Expansion Request, and Landlord may not deliver a Landlord’s
Expansion Offer prior to the receipt by Landlord of an Expansion Request from Tenant. The “Expansion Request Period” shall be the period commencing as of the second anniversary of the Commencement Date and ending as of the date
twenty-seven (27) months prior to the Effective Termination 

  
 Page 18

	 	
Date. Landlord shall have no obligation to offer Acceptable Expansion Space to Tenant in response to the Expansion Request. Landlord’s Expansion Offer shall set forth: (x) the estimated
Commencement Date with respect to the Acceptable Expansion Space, (y) the rent which would be payable by Tenant with respect to such Acceptable Expansion Space, which rent shall be based upon Landlord’s designation of the Prevailing Market
Rent for such Acceptable Expansion Space, and (z) the terms and conditions as set forth in Section 3.3(D) shall, except to the extent inconsistent with this Section 3.5, be applicable to the Acceptable Expansion Space as if the
Acceptable Expansion Space were the Available 5th Floor
ROFO Space. Notwithstanding anything to the contrary herein contained, if, subject to the next following paragraph either: 

  

	 	(i)	 on or after January 1, 2016, but not less than thirty (30) days prior to the expiration of the Expansion Request Period, Landlord gives to
Tenant a Landlord’s 5th Floor ROFO Notice(s),
pursuant to Section 3.3, which, if Tenant timely accepted the offers represented by such Notice(s), would have permitted Tenant to demise Available 5th Floor ROFO Space containing not less than 15,000 rentable square feet in the aggregate, for a term commencing during
calendar year 2016 or calendar year 2017, or 

  

	 	(ii)	Tenant, at any time after the Date of this Lease, enters into an agreement with Landlord leasing any additional space in the Building containing, in the aggregate, not
less than 15,000 rentable square feet in the aggregate, for a term commencing during calendar year 2016 or calendar year 2017, 

  

	 	 	then, and, in any such event, Landlord shall be deemed to have satisfied Tenant’s Expansion Needs Condition and, subject to the next following paragraph, Tenant
shall have no right to exercise Tenant’s Termination Right. 

  

	 	 	 Revival of Tenant’s Termination Right if Tenant Exercises Rescission Rights. Notwithstanding the foregoing, if Tenant exercises its right
to lease Available 5th Floor ROFO Space that qualifies to
satisfy Tenant’s Expansion Needs Condition pursuant to clause (i) above and/or Acceptable Expansion Space, and Tenant’s demise of such ROFO Space or Tenant’s Acceptable Expansion Space is cancelled by reason of Tenant’s
exercise of Tenant’s 5th Floor ROFO Rescission Right
or Acceptable Expansion Space Rescission Right (as applicable) so that Tenant will have leased less than an additional Minimum Expansion Space Floor Area, as defined in Section 3.5(D), by reason of such cancellation(s), then Landlord shall,
notwithstanding the foregoing, not be deemed to have satisfied the Tenant’s Expansion Needs Condition pursuant to clause (i) of the immediately preceding sentence, and Tenant shall again have the right to exercise Tenant’s Termination
Right pursuant to this Section 3.5. 

  
 Page 19

	 	 	 If Tenant’s Termination Right is revived by reason of the exercise by Tenant of a Tenant’s 5th Floor ROFO Rescission Right or Tenant’s Acceptable Expansion
Space Rescission Right, and if the effective date of cancellation of demise of the applicable Available ROFO Space pursuant to such Tenant’s 5th Floor ROFO Rescission Right or of the Acceptable Expansion Space pursuant to Tenant’s Acceptable Expansion Space
Rescission Right is on or after the date sixteen (16) months prior to the last day of the seventh Lease Year (i.e. one month prior to the date Tenant’s Termination Notice is due), then: 

 

	 	(a)	 Tenant may exercise Tenant’s Termination Right by giving a Tenant’s Termination Notice on or before the date ninety (90) days after the
5th Floor ROFO Effective Cancellation Date or the
Acceptable Expansion Space Effective Cancellation Date, as the case may be; 

  

	 	(b)	If Tenant exercises Tenant’s Termination Right, the Effective Termination Date shall be the date fifteen (15) months after Landlord receives such
Tenant’s Termination Notice; and 

  

	 	(c)	For the purposes of determining the Termination Payment, the Unamortized Portion of Landlord’s Transaction Costs shall be determined based upon the amount of
principal which would remain unpaid as of the date fifteen (15) months after Landlord receives Tenant’s Termination Notice, as set forth in clause (b) above. 

 

	 	(D)	Acceptable Expansion Space. “Acceptable Expansion Space” shall be defined as any area in the Waterfront Office Building offered to be leased by
Landlord to Tenant pursuant to Landlord’s Expansion Offer which (i) contains not less than eighty (80%) of the Rentable Floor Area (“Minimum Expansion Space Floor Area”) nor more than one hundred twenty (120%) of
the Rentable Floor Area requested to be leased by Tenant in the Expansion Request (“Maximum Expansion Space Floor Area”) (the condition set forth in this clause (i) being referred to herein as the “Size
Condition”), (ii) with respect to which the rent payable by Tenant is based upon the Prevailing Market Rent, as defined in Section 3.2 above, and (iii) the estimated Commencement Date with respect to the Acceptable Expansion
Space will occur during calendar years 2016 or 2017 (the condition set forth in this clause (iii) being referred to herein as the “Commencement Date Condition”). 

 

	 	(E)	Tenant’s Right to Dispute Landlord’s Expansion Offer; Tenant’s Demise of Acceptable Expansion Space. If Landlord gives Tenant a
Landlord’s Expansion Offer to lease Acceptable Expansion Space pursuant to Section 3.5(C), then Tenant shall have the following options: 

 (i) Tenant may unconditionally accept such Landlord’s Expansion Offer by giving Landlord written notice (“Tenant’s Acceptance”) on or

  
 Page 20

 
before the date fifteen (15) days after Tenant receives Landlord’s Expansion Offer. If Tenant timely gives Tenant’s Acceptance, then Landlord shall lease the Acceptable Expansion
Space described in Landlord’s Expansion Offer to Tenant, and Tenant shall demise such Acceptable Expansion Space from Landlord, on the terms and conditions set forth in Landlord’s Expansion Offer, the terms of Section 3.3(D), and upon
all of the terms and conditions of the Lease to the extent not inconsistent with Landlord’s Expansion Offer; or 
 (ii)
Tenant may, by giving Landlord written notice (“Tenant’s Acceptance and Broker Determination Request”) on or before the date fifteen (15) days after Tenant receives Landlord’s Expansion Offer, accept such
Landlord’s Expansion Offer, but assert that the Base Rent offered in Landlord’s Expansion Offer is not the Prevailing Market Rent of the Acceptable Expansion Space specified in Landlord’s Expansion Offer, and request a Broker
Determination of such Base Rent in accordance with Exhibit H. Tenant’s Acceptance and Broker Determination Request shall expressly accept Landlord’s Expansion Offer and state that Tenant requests a Broker Determination. If Tenant
timely gives Tenant’s Acceptance and Broker Determination Request, then Tenant shall be conclusively be deemed to have accepted Landlord’s Expansion Offer, Landlord shall lease the Acceptable Expansion Space described in Landlord’s
Expansion Offer to Tenant, and Tenant shall demise such Acceptable Expansion Space from Landlord, on the terms and conditions set forth in Landlord’s Expansion Offer and upon all of the terms and conditions of the Lease to the extent not
inconsistent with Landlord’s Expansion Offer, except that the Base Rent payable by Tenant with respect to the Acceptable Expansion Space will be either as determined by the Broker Determination (and both parties shall be bound by such Broker
Determination), or as mutually agreed to by the parties in writing,; or 
 (iii) Tenant may give written notice
(“Objection Notice”) to Landlord asserting that the space identified in Landlord’s Expansion Offer does not qualify as Acceptable Expansion Space because it does not satisfy either the Size Condition and/or the Commencement
Date Condition. If Tenant delivers a timely Objection Notice to Landlord and if the space identified in Landlord’s Expansion Offer does not, in fact, qualify as Acceptable Expansion Space, then Tenant may exercise Tenant’s Termination
Right unless Landlord delivers an acceptable Landlord’s Expansion Offer to Tenant. 
 If Tenant does not, on or before the
date fifteen (15) days after Tenant’s receipt of Landlord’s Expansion Offer, timely either give to Landlord a Tenant’s Acceptance, a Tenant’s Acceptance and Broker Determination Request, or an Objection Notice, then Tenant
shall conclusively be deemed to have agreed that: (i) Landlord’s Expansion Offer offered to lease Acceptable Expansion Space to Tenant for purposes of satisfying the Tenant’s Expansion Needs Condition, and, therefore, (ii) Tenant
has no right to exercise Tenant’s Termination Right. 

  
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	 	(F)	Acceptable Expansion Space Rescission Right. If the Commencement Date in respect of an Acceptable Expansion Space does not occur on or before the date one
hundred fifty (150) days after the Estimated Commencement Date for such Acceptable Expansion Space, Tenant shall have the right (“Tenant’s Acceptable Expansion Space Rescission Right”) to cancel Tenant’s demise of
such Acceptable Expansion Space. Tenant may exercise Tenant’s Acceptable Expansion Space Rescission Right by giving Landlord thirty (30) days written rescission notice (“Tenant’s Acceptable Expansion Space Rescission
Notice”). If the Commencement Date with respect to such Acceptable Expansion Space occurs on or before the date (“Acceptable Expansion Space Effective Cancellation Date”) which is thirty (30) days after Landlord
receives such Tenant’s Acceptable Expansion Space Rescission Notice, then Tenant’s Acceptable Expansion Space Rescission Notice shall be void and without force or effect, and Tenant shall have no right to cancel its demise of such
Acceptable Expansion Space pursuant to this Section 3.5(F). If the Commencement Date with respect to such Acceptable Expansion Space does not occur on or before the date thirty (30) days after Landlord receives such Tenant’s
Acceptable Expansion Space Rescission Notice, then the Tenant’s demise of such Acceptable Expansion Space shall be cancelled, and neither party shall have any further liability or obligation to the other party with respect to Tenant’s
attempted demise of such Acceptable Expansion Space. The effect of Tenant’s exercise of Tenant’s Acceptable Expansion Space Rescission Right shall be the same as if Tenant had failed timely to accept Landlord’s offer to lease such
Acceptable Expansion Space, except that, as provided in Section 3.5(C), Tenant’s Termination Right shall be revived. 

  

	 	(G)	Termination Payment. Subject to the provisions of this Section 3.5(F), the “Termination Payment” shall be equal to the sum of: (i) the
Unamortized Portion, as hereinafter defined, of Landlord’s Transaction Costs, as hereinafter defined, plus (ii) the Rent Loss Payment, as hereinafter defined. The “Rent Loss Payment” shall be equal to $2,527,158.00, except
that if (by reason of the exercise by Tenant of any of its Rescission Rights) the Effective Termination Date occurs after the last day of the seventh Lease Year, then the Rent Loss Payment shall be reduced by the amount of Base Rent to be paid by
Tenant to Landlord between the last day of the seventh Lease Year and the Effective Termination Date. 

  

	 	(H)	 Transaction Costs. “Landlord’s Transaction Costs” shall mean the following costs incurred by Landlord in connection with
Tenant’s demise of the premises initially demised to Tenant: Landlord’s Contribution, any other costs incurred by Landlord in performing Landlord’s Work, brokerage commissions paid by Landlord in connection with Tenant’s demise
of the premises initially demised to Tenant, and reasonable legal fees incurred by Landlord in connection with the Lease. “Landlord’s Additional Premises Transaction Costs” shall mean the following costs incurred by Landlord in
connection with Tenant’s demise of any additional 

  
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premises: any tenant allowances, any other costs incurred by Landlord in preparing such additional premises for Tenant’s occupancy, brokerage commissions paid by Landlord in connection with
the Lease, and legal fees incurred by Landlord in connection with the Lease. Landlord shall, upon written request of Tenant, from time to time, advise Tenant of the amount of Landlord’s Transaction Costs and Landlord’s Additional Premises
Transaction Costs, to the extent that such information is then available to Landlord and Landlord’s calculation of the Termination Payment. 

  

	 	(I)	Unamortized Portion. The “Unamortized Portion” shall be defined as the amount of principal which would remain unpaid as of the Effective Termination
Date with respect to a loan in an original principal amount equal to the Landlord’s Transaction Costs (or Landlord’s Additional Premises Transaction Costs, as the case may be) and which is repaid in equal monthly payments of principal and
interest on a direct reduction basis over the initial Term of the Lease with respect to the premises initially demised to Tenant (or the applicable additional premises, as the case may be) based upon an interest rate of six percent (6%) per
annum. 

  

	 	(J)	If Tenant timely and properly exercises Tenant’s Termination Right and pays the entire Termination Fee, pursuant to this Section 3.5, then the Term of the
Lease shall terminate as of the Effective Termination Date as if the Effective Termination Date were the Expiration Date set forth in Section 1.2, and Annual Fixed Rent and other charges shall be apportioned as of said Effective Termination
Date. If Tenant fails timely and properly to give Tenant’s Termination Notice and to pay the first half of the Termination Fee, Tenant shall have no right to terminate the term of the Lease pursuant to this Section 3.5, time being of the
essence hereof. If Tenant timely and properly gives Tenant’s Termination Notice and pays the first half of the Termination Fee, but Tenant fails timely to pay the Balance of the Termination Fee on or before the Effective Termination Date and if
Tenant fails to cure such failure on or before the date ten (10) days after Tenant receives written notice of such failure from Landlord, then Landlord shall have the right, at Landlord’s election, to either : (i) declare
Tenant’s Termination Notice void and of no force or effect, in which case Landlord shall apply the first half of the Termination Fee paid by Tenant as a credit against Tenant’s next succeeding obligation(s) to pay Annual Fixed Rent and
other charges due under the Lease, or, (ii) to require Tenant to pay the balance of the Termination Fee, plus all legal fees incurred by Landlord in enforcing Tenant’s obligation to pay the Balance of the Termination Fee.

  

	 	(K)	If Tenant exercises its Termination Right pursuant to this Section 3.5, Tenant shall have no right to extend the Term of the Lease pursuant to Section 3.2.

  
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 ARTICLE IV 
 Condition of Premises; Alterations 
  

	4.0	Landlord’s Work 

Landlord shall commence and diligently perform Landlord’s Work in accordance with the Work Agreement attached hereto as Exhibit B and
made a part hereof. In addition to the performance of the Landlord’s Work, Landlord shall deliver the Premises to Tenant vacant, broom clean, free of all property, debris, Hazardous Materials, tenants or occupants. Subject to delays arising
from Force Majeure, Landlord shall use diligent efforts to achieve Substantial Completion of Landlord’s Work on or before the Estimated Commencement Date. However, except as set forth in Section II of Exhibit B, the failure of the Commencement
Date to occur on or before the Estimated Commencement Date shall in no way affect the validity of this Lease or the obligations of Tenant hereunder nor shall the same be construed in any way to extend the Term of this Lease. Except as set forth in
Section II of Exhibit B, if the Commencement Date does not occur on or before the Estimated Commencement Date, Tenant shall not have any claim against Landlord, and Landlord shall have no liability to Tenant, by reason thereof. 

ARTICLE V 

Annual Fixed Rent and Electricity 
  

	5.1	Fixed Rent 

 Tenant agrees to pay to Landlord, commencing on the Commencement Date, and thereafter monthly, in advance, on the first day of each and every calendar month during the Original Lease Term, a sum equal to
one-twelfth (1/12th) of the Annual Fixed Rent
specified in Section 1.2 hereof for the applicable portion of the Term of this Lease and on the first day of each and every calendar month during each Extended Term (if exercised), a sum equal to one-twelfth of the Annual Fixed Rent as
determined in Section 3.2 for the applicable Extended Term. Until notice of some other designation is given, fixed rent and all other charges for which provision is herein made shall be paid by remittance to or for the order of Boston
Properties Limited Partnership either (i) by mail to P.O. Box 3557, Boston, Massachusetts 02241-3557, (ii) by wire transfer to Bank of America in Dallas, Texas, Bank Routing Number 0260-0959-3 or (iii) by ACH transfer to Bank of
America in Dallas, Texas, Bank Routing Number 111 000 012, and in the case of (ii) or (iii) referencing Account Number 3756454460, Account Name of Boston Properties, LP, Tenant’s name and Atlantic Wharf address. All remittances
received by BOSTON PROPERTIES LIMITED PARTNERSHIP, as Agents as aforesaid, or by any subsequently designated recipient, shall be treated as a payment to Landlord. 
 Annual Fixed Rent for any partial month shall be paid by Tenant to Landlord at such rate on a pro rata basis based on a 365 day year, and, if the Commencement Date shall be

  
 Page 24

 
other than the first day of a calendar month, the first payment of Annual Fixed Rent which Tenant shall make to Landlord shall be a payment equal to a proportionate part of such monthly Annual
Fixed Rent for the partial month from the Commencement Date to the first day of the succeeding calendar month. 
 Additional Rent
payable by Tenant on a monthly basis, as elsewhere provided in this Lease, likewise shall be prorated, and the first payment on account thereof shall be determined in similar fashion and, if applicable at that time, shall commence on the
Commencement Date and other provisions of this Lease calling for monthly payments shall be read as incorporating this undertaking by Tenant. 
 Notwithstanding that the payment of Annual Fixed Rent payable by Tenant to Landlord shall not commence until the Commencement Date, Tenant shall be subject to, and shall comply with, all other provisions
of this Lease as and at the times provided in this Lease. 
 The Annual Fixed Rent and all other charges for which provision
is made in this Lease shall be paid by Tenant to Landlord without setoff, deduction or abatement except as otherwise expressly set forth in this Lease. 
  

	5.2	Allocation of Electricity Charges  

 Landlord shall allocate the cost of electricity to Tenant in accordance with the procedure contained in Exhibit F, and Tenant shall pay for electricity as provided in said Exhibit F.

 ARTICLE VI 
 Taxes 
  

	6.1	Definitions  

 With
reference to the real estate taxes referred to in this Article VI, it is agreed that terms used herein are defined as follows: 
  

	 	(a)	“Tax Year” means the 12-month period beginning July 1 each year during the Lease Term or if the appropriate Governmental tax fiscal period shall begin on
any date other than July 1, such other date with appropriate proration of any change. 

  

	 	(b)	“Landlord’s Tax Expenses Allocable to the Premises” means the same proportion of Landlord’s Tax Expenses as Rentable Floor Area of Tenant’s
Premises bears to 100% of the Total Rentable Floor Area of the Building. 

  

	 	(c)	“Landlord’s Tax Expenses” with respect to any Tax Year means the aggregate “real estate taxes” (hereinafter defined) with respect to that Tax
Year, reduced by any net abatement receipts with respect to that Tax Year but equitably adjusted to be a fully/assessed, fully occupied building. 

  
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	 	(d)	 “Real estate taxes” means all taxes and special assessments of every kind and nature and user fees and other like fees assessed by any
Governmental authority (including, but not limited to, any tax, assessment or charge resulting from the creation of a special improvement district, (but excluding any late fees unless Tenant is late with its payments)) on, or allocable to: (i) the
Building (i.e., the Tower Office Unit and the Waterfront Office Unit, as defined in the Secondary Condominium Documents), and (ii) reasonable expenses of and fees for any formal or informal proceedings for negotiation or abatement of taxes
(collectively, “Abatement Expenses”), which Abatement Expenses shall be excluded from Base Taxes. The amount of special taxes or special assessments to be included shall be limited to the amount of the installment (plus any interest other
than penalty interest payable thereon) of such special tax or special assessment required to be paid on account of the tax year or portion thereof included with the Lease Term, payable over the longest period permitted by law. There shall be
excluded from such taxes all mitigation or impact fees or subsidies associated with the initial construction of the Building or Atlantic Wharf and all income, inheritance, estate, succession, transfer, gift, franchise, or capital stock taxes;
provided, however, that if at any time during the Lease Term the present system of ad valorem taxation of real property shall be changed so that in lieu of, or in addition to, the whole or any part of the ad valorem tax on real property (or in lieu
of, or in addition to, any increases therein) there shall be assessed on Landlord a capital levy or other tax on the gross rents received with respect to the Site or Building or Property, or a federal, state, county, municipal, or other local
income, franchise, excise or similar tax, assessment, levy or charge (distinct from any now in effect in the jurisdiction in which Atlantic Wharf is located) measured by or based, in whole or in part, upon any such gross rents, then any and all of
such taxes, assessments, levies or charges, to the extent so measured or based, shall be deemed to be included within the term “Real Estate Taxes” but only to the extent that the same would be payable if the Site and Building, were the
only property of Landlord. To the extent that the Building is not separately assessed for real estate tax purposes, but is assessed as part of a larger parcel including the Russia Building and the Garage, then the Landlord shall make a reasonable
allocation in accordance with the Condominium Documents as to the amount of the real estate taxes that should be allocated to the Building for the purposes of determination of the Tenant’s share of increases in real estate taxes under this
Lease. The Landlord’s allocation, if made in good faith, shall be final. For the purposes of this Lease, real estate taxes shall include any legally required payment in lieu of taxes or any payments made under Chapter 121A of the Massachusetts
General Laws or any similar law, provided that any such payments in lieu of taxes shall be included solely to the extent any such agreement is consistent with 

  
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agreements then required to be entered into in the City of Boston for comparable properties, but shall not be included in real estate taxes to the extent any such agreement is not so required or
consistent. 

  

	 	(e)	“Base Taxes” means Landlord’s Tax Expenses (hereinbefore defined) for fiscal tax year 2012 (that is the period beginning July 1, 2011 and ending
June 30, 2012), provided, however, the Base Taxes shall be equitably adjusted and grossed up as if the Building (or the applicable portion of Atlantic Wharf on which Base Taxes are based) were to be a fully assessed, fully occupied building.
Landlord represents and warrants to Tenant that, as of the Execution Date of this Lease, there are no tax agreements, tax credits, tax abatements or other tax incentives applicable to the Base Taxes for the Building which expire or terminate during
the Term of this Lease. 

  

	 	(f)	“Base Taxes Allocable to the Premises” means the same proportion of Base Taxes as the Rentable Floor Area of Tenant’s Premises bears to 100% of the Total
Rentable Floor Area of the Building. 

  

	 	(g)	If during the Lease Term the Tax Year is changed by applicable law to less than a full 12-month period, the Base Taxes and Base Taxes Allocable to the Premises shall
each be proportionately reduced. 

  

	6.2	Tenant’s Share of Real Estate Taxes 

 If with respect to any full Tax Year or fraction of a Tax Year falling within the Lease Term Landlord’s Tax Expenses Allocable to the Premises for a full Tax Year exceed Base Taxes Allocable to the
Premises or for any such fraction of a Tax Year exceed the corresponding fraction of Base Taxes Allocable to the Premises (such amount being hereinafter referred to as the “Tax Excess”), then Tenant shall pay to Landlord, as Additional
Rent, the amount of such Tax Excess. Payments by Tenant on account of the Tax Excess shall be made monthly at the time and in the fashion herein provided for the payment of Annual Fixed Rent. The amount so to be paid to Landlord shall be an amount
from time to time reasonably estimated by Landlord to be sufficient to provide Landlord, in the aggregate, a sum equal to the Tax Excess, ten (10) days at least before the day on which tax payments by Landlord would become delinquent. Not later
than ninety (90) days after Landlord’s Tax Expenses Allocable to the Premises are determinable for the first such Tax Year or fraction thereof and for each succeeding Tax Year or fraction thereof during the Lease Term, Landlord shall
render Tenant a statement in reasonable detail certified by a representative of Landlord showing for the preceding year or fraction thereof, as the case may be, real estate taxes allocated to the Building, abatements and refunds, if any, of any such
taxes and assessments, expenditures incurred in seeking such abatement or refund, the amount of the Tax Excess, the amount thereof already paid by Tenant and the amount thereof overpaid by, or remaining due from, Tenant for the period covered by
such statement, together with copies of all of the tax bills from the City of Boston on which such calculations are based. Landlord shall provide Tenant with a 

  
 Page 27

 
statement of the amount of Taxes included in Base Taxes following the conclusion of the Base Tax Year, and if requested by Tenant together with copies of all of the tax bills from the City of
Boston on which such calculations are based. Within thirty (30) days after the receipt of such statement, Tenant shall pay any sum remaining due. Any balance shown as due to Tenant shall be credited against Annual Fixed Rent next due, or
refunded to Tenant if the Lease Term has then expired and Tenant has no further obligation to Landlord. Reasonable expenditures for legal fees and for other expenses incurred in obtaining an abatement or refund may be charged against the abatement
or refund before the adjustments are made for the Tax Year. 
 To the extent that real estate taxes shall be payable to the
taxing authority in installments with respect to periods less than a Tax Year, the statement to be furnished by Landlord shall be rendered and payments made on account of such installments. 

Landlord shall, within thirty (30) days after Landlord receives written notice from the Tax Assessor of the City of Boston setting
forth the assessed value of the Building for the Base Tax Year, provide to Tenant a written statement of the amount of assessed value of the Building which Landlord intends to use as the basis for Base Taxes and the manner in which Landlord
determined such amount. After Landlord delivers such statement to Tenant, the parties shall meet at a mutually acceptable time to discuss Landlord’s determination of such assessed value. 

ARTICLE VII 
 Landlord’s Repairs and Services and Tenant’s Escalation Payments 
  

	7.1	Structural Repairs; Water Tightness 

 Except for damage caused by fire or casualty or by eminent domain which shall be covered by Article XIV of this Lease, Landlord shall, throughout the Lease Term, at Landlord’s sole cost and expense,
keep and maintain, or cause to be kept and maintained, in good order, condition and repair generally and reasonably consistent with other high quality Class A office buildings in the Central Business District in Boston and in conformance with
all Legal Requirements, including necessary capital repairs and replacements, the following portions of the Building: all structural and non-structural portions and components of the roof systems (including roof membranes), the exterior and load
bearing walls, the foundation, the structural columns, mullions, floor/ceiling slabs, exterior glass, shafts and other structural elements of the Building and the reasonable weatherizing of the Building; provided however, that, subject to
Section 13.13, Tenant shall pay to Landlord, as Additional Rent, the cost of any and all such repairs which may be required as a result of repairs, alterations, or installations made by Tenant or any subtenant, assignee, licensee or
concessionaire of Tenant or any agent, servant, employee or contractor of any of them or to the extent of any loss, destruction or damage caused by the negligent act or omission of Tenant, any assignee or subtenant or any agent, servant, employee,
customer, visitor or contractor of any of them. 

  
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	7.2	Other Repairs to be Made by Landlord 

 Except for damage caused by fire or casualty or by eminent domain which shall be covered by Article XIV of this Lease, and except as otherwise provided in this Lease, and subject to provisions for
reimbursement by Tenant as contained in Section 7.5, Landlord agrees to keep and maintain, or cause to be kept and maintained, in good order, condition and repair generally and reasonably consistent with other high quality Class A office
buildings in the Central Business District in Boston and in conformance with all Legal Requirements, the common areas and facilities of the Building, including the base building mechanical, electrical, plumbing, sprinkler, fire/life safety, and
access control systems and the base building heating, ventilating, and air conditioning (“Base Building HVAC”) systems serving the Premises and the Building and other common Building systems equipment servicing the Premises, except that
Landlord shall in no event be responsible to Tenant for (a) subject to Section 13.13, the condition of glass in and about the Premises (other than for glass in exterior walls for which Landlord shall be responsible unless the damage
thereto is attributable to Tenant’s negligence or misuse, in which event the responsibility for the cost thereof shall be Tenant’s), or (b) subject to Section 13.13, any condition in the Premises or the Building caused by any act
or neglect of Tenant or any agent, employee, contractor, assignee, subtenant, licensee, concessionaire or invitee of Tenant. Without limitation, Landlord shall not be responsible to make any improvements or repairs to the Building or the Premises
other than as expressly provided in Section 7.1 or in this Section 7.2, unless expressly otherwise provided in this Lease or the Condominium Documents. Landlord shall perform Landlord’s obligations under the Condominium Documents and
shall use reasonable efforts to enforce the obligations of the Tower Office Unit owner and the Commercial Unit Owner under the Condominium Documents to the extent that such obligations affect Tenant. 

 

	7.3	Services to be Provided by Landlord 

 In addition, and except as otherwise provided in this Lease and subject to provisions for reimbursement by Tenant as contained in Section 7.5 and Tenant’s responsibilities in regard to
electricity as provided in Section 5.2, Landlord agrees to furnish services, utilities, facilities and supplies to the Premises and the Building as set forth in Exhibit C hereto equal in quality comparable to those customarily provided by
landlords in high quality Class A buildings in Boston. In addition, Landlord agrees to furnish, at Tenant’s expense, reasonable additional Building operation services which are usual and customary in similar buildings in Boston, and such
additional special services as may be mutually agreed upon by Landlord and Tenant, upon reasonable and equitable rates from time to time established by Landlord. Tenant agrees to pay to Landlord, as Additional Rent, the cost of any such additional
Building services requested by Tenant and for the cost of any additions, alterations, improvements or other work performed by Landlord in the Premises at the request of Tenant within thirty (30) days after being billed therefor. Landlord
represents to Tenant that, as of the Execution Date, there are two zones for overtime Base Building HVAC services and tenants are charged for overtime Base Building HVAC service based upon an hourly charge relating to the applicable zoning and floor
to which such service is provided. 

  
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	7.4	Operating Costs Defined  

“Operating Expenses Allocable to the Premises” means the same proportion of the Operating Expenses for the Building (as
hereinafter defined) as Rentable Floor Area of the Premises bears to 100% of the Total Rentable Floor Area of the Building. “Base Operating Expenses” means Operating Expenses for the Building for calendar year 2012 (that is the period
beginning January 1, 2012 and ending December 31, 2012 (the “Base Year”)). Base Operating Expenses shall not include market-wide cost increases due to extraordinary circumstances, including but not limited to, Force Majeure (as
defined in Section 14.1), boycotts, strikes, conservation surcharges, embargoes or shortages. For purposes of this Section 7.4, “market-wide cost increases due to extraordinary circumstances” shall mean an actual, material
increase in a category of Landlord’s Operating Expenses under this Lease in excess of the amount reasonably budgeted by Landlord for such expense category in the Base Operating Expenses which is attributable to some unanticipated event or
circumstance occurring during the Base Year and that affects the Central Business District of the City of Boston in general for a temporary period of time and where the costs for such category(ies) subsequently returns, within not more than nine
(9) months after the calendar year used for calculating Base Operating Expenses, to amounts that would otherwise have been consistent with the projected and normal level of increases in such category(ies) of costs during subsequent years of the
Term. If there are elements of Building repair and maintenance which would have been included in Base Operating Expenses except that such repair and maintenance is covered under construction or installation warranties or service contracts, then the
costs which would have been incurred but for such warranties or service contracts shall be included in Base Operating Expenses, less the reasonable costs incurred by Landlord in enforcing such warranties and less the cost of any such service
contracts. “Base Operating Expenses Allocable to the Premises” means the same proportion of Base Operating Expenses as the Rentable Floor Area of Tenant’s Premises bears to 100% of the Total Rentable Floor Area of the Building.
“Operating Expenses for the Building” means the cost of operation of the Building and the Building’s share (allocated per the Condominium Documents) of the cost of operating the common areas of Atlantic Wharf as more specifically
provided below in Section 7.4, including those incurred in discharging the obligations under Sections 7.2 and 7.3; however there shall be excluded from the Operating Expenses for the Building all costs solely relating to the operation and
maintenance of the Garage or the retail and residential portions of Atlantic Wharf. In no event shall Landlord have the right to include in Operating Expenses for the Building more than 100% of the Building’s allocable share of any Operating
Expense and, so long as Landlord is operating the multi-media center in accordance with the requirements of the Chapter 91 license applicable to Atlantic Wharf (as the same may be modified by amendment or waiver), all revenue and user fees collected
from use of the multi-media center shall be credited against the operating expenses of such facility. In addition, such costs shall exclude payments of debt service and any other mortgage charges, brokerage commissions, real estate taxes (to the
extent paid pursuant to Section 6.2 hereof), and costs of special services rendered to tenants (including Tenant) for which a separate charge is made, but shall include, without limitation: 

  
 Page 30

	 	(a)	compensation, wages and all fringe benefits, workmen’s compensation insurance premiums and payroll taxes paid to, for or with respect to all persons up to and
including the level of Regional Property Manager for their services in the operating, maintaining, managing, insuring or cleaning of the Building. To the extent, if any, that any such persons shall perform any work with respect to the Building and
other buildings in or common areas of Atlantic Wharf or other properties of Landlord or its affiliates, there shall be a reasonable allocation to the Building of the aforesaid charges and items payable to such persons among other buildings, areas
and properties so served; 

  

	 	(b)	payments under service contracts with independent contractors for operating, maintaining or cleaning of the Building; 

 

	 	(c)	steam, water, sewer, gas, oil, electricity and telephone charges (excluding such utility charges separately chargeable to tenants for additional or separate services
and excluding electricity for plugs, lights and supplemental heating, ventilating and air-conditioning supplied to leasable areas of the Building) and costs of maintaining letters of credit or other security as may be required by utility companies
as a condition of providing such services; 

  

	 	(d)	cost of maintenance, cleaning and repairs and replacements (other than repairs not properly chargeable against income or reimbursable from contractors under
guarantees); 

  

	 	(e)	cost of snow removal and the cost of landscaping services; 

  

	 	(f)	cost of building and cleaning supplies and equipment; 

  

	 	(g)	 premiums for insurance carried with respect to the Building (including, without limitation, liability insurance, insurance against loss in case of fire
or casualty and of monthly installments of Annual Fixed Rent and any Additional Rent which may be due under this Lease and other leases of space in the Building for not more than twelve (12) months in the case of both Annual Fixed Rent and
Additional Rent and, if there be any first mortgage on the Building, including such insurance as may be required by the holder of such first mortgage); provided, however, that: (i) so long as an affiliate of Boston Properties Limited
Partnership owns the Building, such coverages are consistent with those carried by other affiliates of Boston Properties Limited Partnership which own properties similar to the Building in the greater Boston area, and (ii) during such period of
time as the Building is not owned by an affiliate of Boston Properties Limited, 

  
 Page 31

	 	
Partnership, such coverages shall be of the type and amounts customarily required to be carried by lenders of comparable class A, multi-tenant office buildings in Central Business District of the
City of Boston; 

  

	 	(h)	management fees at reasonable rates for self managed buildings consistent with the type of occupancy and the services rendered, but in no event at a rate of more than
four percent (4%) of fixed and additional rent scheduled for the Building (excluding Tenant electricity reimbursements), parking fees and the aforesaid management fees), the parties agreeing that in calculating the amount of management fees
included in Operating Expenses for any calendar year (including the Base Year), management fees shall grossed up as if the Building were 95% occupied (i.e., determined as full rent were being paid on any space which is vacant during such year and on
any space with respect to which the tenant is receiving the benefit of free rent or rent abatements); 

  

	 	(i)	the Building’s share (determined in accordance with the Condominium Documents) of Operating Expenses (as herein defined in this Section 7.4) related to the
operation (and insurance) of the open areas, interior and exterior public areas and amenities, plazas, common areas, facilities and other non-leasable areas of Atlantic Wharf including the Lot, and the Public Spaces (but not including any portion of
the Russia Building) and other mixed use common area maintenance costs incurred by Landlord or any other owner and allocated to the Building and any shuttle buses and other like amenities, for use of tenants of the Building either alone or in common
with tenants of other buildings in Atlantic Wharf and any contributions or payments respecting the Rose Kennedy Greenway; 

  

	 	(j)	depreciation for capital expenditures made by Landlord during the Lease Term but only with respect to capital expenditures incurred (x) to reduce Operating
Expenses if Landlord reasonably shall have determined that the annual reduction in Operating Expenses shall exceed depreciation therefor or (y) to comply with Legal Requirements effective after the date of this Lease (the capital expenditures
described in subsections (x) and (y) being hereinafter referred to as “Permitted Capital Expenditures”) plus, in the case of both (x) and (y), an interest factor, reasonably determined by Landlord, as being the interest rate
then charged for long term mortgages by institutional lenders on like properties within the general locality in which the Building is located, and depreciation in the case of both (x) and (y) shall be determined by dividing the original
cost of such capital expenditure by the number of years of useful life of the capital item acquired, which useful life shall be determined reasonably by Landlord in accordance with generally accepted accounting principles and practices in effect at
the time of acquisition of the capital item; provided, however, if Landlord reasonably concludes on the basis of engineering estimates that a particular capital expenditure will effect savings in other Operating 

  
 Page 32

	 	
Expenses, including, without limitation, energy related costs, and that such projected savings will, on an annual basis (“Projected Annual Savings”), exceed the annual depreciation
therefor, then and in such event the amount of depreciation for such capital expenditure shall be increased to an amount equal to the Projected Annual Savings; and in such circumstance, the increased depreciation (in the amount of the Projected
Annual Savings) shall be made for such period of time as it would take to fully amortize the cost of the item in question, together with interest thereon at the interest rate as aforesaid in equal monthly payments, each in the amount of 1/12th of
the Projected Annual Savings, with such payment to be applied first to interest and the balance to principal; and 

  

	 	(k)	all other reasonable and necessary expenses paid in connection with the operating, cleaning and maintenance of the Building or said common areas and facilities of the
Building consistent with other high quality Class A buildings in the Central Business District of Boston and properly chargeable against income. 

 Notwithstanding anything in this Lease to the contrary, to the extent that Landlord provides or procures services for the Building together with other buildings in Atlantic Wharf or otherwise operated by
Landlord or any affiliate thereof, then the costs of such services shall be allocated between the Building and such other buildings in a manner reasonably determined by Landlord. 

Notwithstanding any of the foregoing, all of the items of expense listed in Exhibit M attached hereto and made a part hereof entitled
Operating Expense Exclusions, are excluded from Operating Expenses. 
 Notwithstanding the foregoing, in determining the amount
of Operating Expenses for the Building for any calendar year or portion thereof falling within the Lease Term (including the calendar year in which Base Operating Expenses are determined), if less than one hundred percent (100%) of the Total
Rentable Floor Area of the Building shall have been occupied by tenants at any time during the period in question, then, with respect to the Base Year then, at Landlord’s election, with respect to years after the Base Year, but on a mandatory
basis for the Base Year, those components of Operating Expenses for the Building that vary based on occupancy for such period shall be adjusted to equal the amount such components of Operating Expenses for the Building would have been for such
period had occupancy been one hundred percent (100%) throughout such period. 
  

	7.5	Tenant’s Escalation Payments 

  

	 	(A)	If with respect to any calendar year falling within the Lease Term, or fraction of a calendar year falling within the Lease Term at the beginning or end thereof, the
Operating Expenses Allocable to the Premises (as defined in Section 7.4) for a full calendar year exceed Base Operating Expenses Allocable to the Premises (as 

  
 Page 33

	 	
defined in Section 7.4) or for any such fraction of a calendar year exceed the corresponding fraction of Base Operating Expenses Allocable to the Premises (such amount being hereinafter
referred to as the “Operating Cost Excess”), then Tenant shall pay to Landlord, as Additional Rent, on or before the thirtieth (30th) day following receipt by Tenant of the statement referred to below in this Section 7.5, the amount of such
Operating Cost Excess. 

  

	 	(B)	Estimated payments by Tenant on account of the Operating Cost Excess shall be made monthly at the time and in the fashion herein provided for the payment of Annual
Fixed Rent. The amount so to be paid to Landlord shall be an amount reasonably estimated by Landlord in writing to Tenant from time to time (but no more than twice in any calendar year) to be sufficient to cover, in the aggregate, a sum equal to the
Operating Cost Excess for each calendar year during the Lease Term. 

  

	 	(C)	No later than one hundred twenty (120) days after the end of the first calendar year or fraction thereof ending December 31 and of each succeeding calendar
year during the Lease Term or fraction thereof at the end of the Lease Term, Landlord shall render Tenant a statement in reasonable detail and according to usual accounting practices consistently applied and certified by a representative of
Landlord, showing for the preceding calendar year or fraction thereof, as the case may be, the Operating Expenses for the Building and the Operating Expenses Allocable to the Premises. The first such Operating Expense Statement from Landlord under
this Lease shall also set forth the Base Operating Expenses and the Base Operating Expenses Allocable to the Premises. Said statement to be rendered to Tenant also shall show for the preceding year or fraction thereof, as the case may be, the
amounts already paid by Tenant on account of Operating Cost Excess and the amount of Operating Cost Excess remaining due from, or overpaid by, Tenant for the year or other period covered by the statement. 

If such statement shows a balance remaining due to Landlord, Tenant shall pay same to Landlord on or before the
thirtieth (30th) day following receipt by Tenant of
said statement. Any balance shown as due to Tenant shall be credited against Annual Fixed Rent next due, or refunded to Tenant within thirty (30) days if the Lease Term has then expired and Tenant has no further obligation to Landlord.

 Any payment by Tenant for the Operating Cost Excess shall not be deemed to waive any rights of Tenant to claim that the
amount thereof was not determined in accordance with the provisions of this Lease. 
  

	 	(D)	In the event of any dispute regarding the amount due as Tenant’s Operating Cost Excess, Tenant shall have the right, after reasonable notice and at reasonable
times during normal business hours, to inspect and photocopy Landlord’s accounting records relating to the Operating Costs Excess for the period in question at Landlord’s office in Boston, MA, provided Tenant shall exercise such right with
respect to any calendar year by giving such notice to Landlord within 

  
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one hundred (100) days after Tenant shall receive a bill or reconciliation from Landlord concerning Operating Costs for such calendar year. Notwithstanding the foregoing, if Tenant has not
previously exercised its right, pursuant to this Paragraph (D), to examine Landlord’s accounting records relating to Operating Costs Excess for calendar year 2012, Tenant shall have the right to make such examination at the same time that
Tenant properly exercises its right to examine Landlord’s accounting records relating to Operating Costs Excess for calendar year 2013 or 2014. Time is of the essence as to any notice. Further, in no event shall Tenant have the right to make
any such examination (whether by itself or with an examiner) more than once in respect of any year in which Landlord has given Tenant a statement of Operating Costs, unless review of a subsequent period gives rise to the disclosure of a
miscalculation or error that may apply to any of the two (2) calendar years prior to the calendar year for which such miscalculation or error has been discovered; provided, however that if any such prior calendar year was subject to a previous
examination, then no further review of such prior calendar year shall be permitted. If, after such inspection and photocopying, Tenant continues to dispute the amount of its Operating Cost Excess, Tenant or an independent professional firm
designated by Tenant (including FHO Partners) shall be entitled to audit and/or review Landlord’s records relating to the period in question with respect to the proper amount of Operating Cost Excess; provided that no auditor engaged by Tenant
shall be paid on a contingent fee basis. As a condition to performing any such examination, Tenant and its examiners shall be required to execute and deliver to Landlord a commercially reasonable agreement, in form reasonably acceptable to Landlord,
agreeing to keep confidential any information about Landlord or the Building obtained in the course of such examination. 

 If such audit or review reveals that Landlord has overcharged Tenant, then within thirty (30) days after the results of such audit are made available to Landlord, Landlord shall reimburse Tenant the
amount of such overcharge plus interest thereon at the Lease Interest Rate. If the audit reveals that Tenant was undercharged, then within thirty (30) days after the results of the audit are made available to Tenant, Tenant shall reimburse
Landlord the amount of such undercharge plus interest thereon at the Lease Interest Rate. If Landlord desires to contest such audit results, Landlord may do so by submitting the results of the audit to arbitration pursuant to the then current rules
and procedures of the American Arbitration Association within sixty (60) days of receipt of the results of the audit, and the arbitration shall be final and binding upon Landlord and Tenant. The cost of the arbitrator engaged in connection with
such arbitration shall be shared equally between the parties. 
 Tenant agrees to pay the cost of its own audit, provided that
if the audit reveals that Landlord’s determination of Operating Cost Excess as set forth in any statement sent to Tenant was in error in Landlord’s favor by more than Ten Thousand Dollars ($10,000.00), Landlord shall pay the cost of such
audit. Landlord shall provide Tenant with a statement of the Operating Costs incurred in 

  
 Page 35

 the Base Year following the conclusion of the such Base Year, and Tenant’s audit right
shall include but not be limited to the right to audit and review Landlord’s records with respect to such Base Year. 
  

	7.6	No Damage 

 Landlord shall
not be liable to Tenant for any compensation or reduction of rent by reason of inconvenience or annoyance or for loss of business arising from the necessity of Landlord or its agents entering the Premises for any purposes in this Lease authorized,
or for repairing the Premises or any portion of the Building or Atlantic Wharf however the necessity may occur provided that except in case of emergency repairs, Landlord will give Tenant reasonable advance notice of any contemplated stoppage or
entry (except in the event of emergencies and in connection with normal cleaning and maintenance operations) and will use reasonable efforts to avoid unnecessary inconvenience to Tenant by reason thereof. Except in the event of an emergency, Tenant
may have the right to have an employee or other representative of Tenant accompany Landlord when Landlord is making such entry. In exercising any right which Landlord has to enter the Premises, Landlord shall use reasonable efforts to minimize any
interference with Tenant’s use of the Premises. In case Landlord is prevented or delayed from making any repairs, alterations or improvements, or furnishing any services or performing any other covenant or duty to be performed on
Landlord’s part, by reason of any cause reasonably beyond Landlord’s control, including, without limitation, by reason of Force Majeure (as defined in Section 14.1 hereof) or for any cause due to any act or neglect of Tenant or
Tenant’s servants, agents, employees, licensees or any person claiming by, through or under Tenant, Landlord shall not be liable to Tenant therefor, nor, except as expressly otherwise provided in this Lease, shall Tenant be entitled to any
abatement or reduction of rent by reason thereof, or right to terminate this Lease, nor shall the same give rise to a claim in Tenant’s favor that such failure constitutes actual or constructive, total or partial, eviction from the Premises.

 Landlord reserves the right to stop any service or utility system, when necessary by reason of accident or emergency, or until
necessary repairs have been completed; provided, however, that in each instance of stoppage, Landlord shall exercise reasonable diligence to eliminate the cause thereof. Except in case of emergency repairs, Landlord will give Tenant reasonable
advance notice of any contemplated stoppage and will use reasonable efforts to avoid unnecessary inconvenience to Tenant by reason thereof. 
 Notwithstanding the foregoing, and solely for the purposes of this Section 7.6, an “Abatement Event” shall be defined as an event or circumstance where a portion of the Premises becomes
untenantable and Tenant ceases to occupy such portion of the Premises resulting from or caused by: (i) any repairs, alterations, replacements or improvements made by Landlord, (ii) Landlord’s failure to make any repairs, alterations,
or improvements required to be made by Landlord hereunder, or to provide any service required to be provided by Landlord hereunder, or to remediate any Hazardous Materials, as defined in Section 11.2 and provided that such Hazardous Materials
were not used, stored, or disposed of by Tenant, anyone claiming by, through or under Tenant, or any of 

  
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 their respective agents, employees or contractors, or (iii) any failure of Landlord to
provide electrical, heating, ventilating, air conditioning, or all elevator service to the Premises or reasonable access to the Premises. Tenant shall give Landlord notice (“Abatement Notice”) of any such Abatement Event, and if such
Abatement Event continues beyond the “Eligibility Period” (as that term is defined below), then the Annual Fixed Rent and Tenant’s payments on account of Landlord’s Tax Expenses Allocable to the Premises and Operating Expenses
Allocable to the Premises shall be abated entirely or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using, and does not use, the Premises or a portion thereof, in
the proportion that the rentable area of the portion of the Premises that Tenant is prevented from using, and does not use, bears to the total Rentable Floor Area of the Premises. The term “Eligibility Period” shall mean (i) as the
result of an Abatement Event due to an event or circumstance within Landlord’s reasonable control, a period of three (3) consecutive days after Landlord’s receipt of any Abatement Notice(s) and (ii) as the result of an Abatement
Event due to an event or circumstance not within Landlord’s reasonable control, a period of fifteen (15) consecutive days after Landlord’s receipt of any Abatement Notice(s). Notwithstanding anything herein contained to the contrary,
in no event shall any of the events referred to in this Section 7.6 give rise to a claim in Tenant’s favor that such failure constitutes actual or constructive, total or partial, eviction from the Premises 

ARTICLE VIII 
 Tenant’s Repairs 
  

	8.1	Tenant’s Repairs and Maintenance 

 Tenant covenants and agrees that, from and after the date that possession of the Premises is delivered to Tenant and until the end of the Lease Term, (except during construction of Tenant’s Work
(which shall be governed by Work Letters).Tenant will keep neat and clean and maintain in good order, condition and repair the Premises and every part thereof, excepting only for those repairs or other obligations for which Landlord is responsible
under the terms of Article VII of this Lease conditions caused by the negligence or willful misconduct of Landlord or its employees, agents or contractors, and damage by fire or casualty and as a consequence of the exercise of the power of eminent
domain. Tenant shall not permit or commit any waste, and, subject to Section 13.13, Tenant shall be responsible for the cost of repairs which may be made necessary by reason of damages to common areas in the Building or at Atlantic Wharf by
Tenant, Tenant’s agents, employees, contractors, sublessees, licensees, concessionaires or invitees (other than ordinary wear and tear). Tenant shall maintain all its equipment, furniture and furnishings in good order and repair. 

If repairs are required to be made by Tenant pursuant to the terms hereof, Landlord may demand that Tenant make the same forthwith, and,
subject to the next following sentence, if Tenant refuses or neglects to commence such repairs and complete the same within 

  
 Page 37

 
thirty (30) days after written notice (or such longer period of time as Tenant may reasonably require to complete the same, provided that Tenant commences to perform such repairs within such
thirty (30) day period and thereafter diligently prosecutes such repairs to completion), Landlord may (but shall not be required to do so) make or cause such repairs to be made and shall not be responsible to Tenant for any loss or damage that
may accrue to Tenant’s stock or business by reason thereof except to the extent of the negligence or willful misconduct of any Landlord Parties. Notwithstanding the foregoing, in emergencies, Landlord may exercise its rights under the
immediately preceding sentence without prior notice to Tenant. If Landlord makes or causes such repairs to be made, Tenant agrees that Tenant will forthwith within thirty (30) days of Landlord’s demand, pay to Landlord as Additional Rent
the cost thereof together with interest thereon at the rate specified in Section 16.21, and if Tenant shall default in such payment, Landlord shall have the remedies provided for non-payment of rent or other charges payable hereunder.

 ARTICLE IX 
 Alterations 
  

	9.1	Landlord’s Approval 

Tenant covenants and agrees not to make alterations, additions or improvements to the Premises (other than Cosmetic Alterations, as
hereinafter defined), whether before or during the Lease Term, except in accordance with plans and specifications therefor first approved by Landlord in writing, which approval shall not be unreasonably withheld or delayed. However, Landlord’s
determination of matters relating to aesthetic issues relating to alterations, additions or improvements which are visible outside the Premises shall be in Landlord’s sole discretion. Without limiting such standard, Landlord shall not be deemed
unreasonable: 
  

	 	(a)	 for withholding approval of any alterations, additions or improvements which (i) in Landlord’s opinion might materially and adversely affect
any structural element of the Building or which might affect any exterior element of the Building, any area or element outside of the Premises or might materially and adversely affect any facility or base building mechanical system serving any area
of the Building outside of the Premises, or (ii) involve or affect the exterior design, size, height or other exterior dimensions of the Building, or (iii) enlarge the Rentable Floor Area of the Premises, or (iv) are inconsistent, in
Landlord’s good faith judgment, with alterations satisfying Landlord’s reasonable standards which do not discriminate between similarly situated tenants for new alterations in the Building, or (v) will require unusual expense to
readapt the Premises to normal office use on Lease termination or increase the cost of construction or of insurance or taxes on the Building or of the services called for by Section 7.3 unless Tenant first gives assurance reasonably

  
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acceptable to Landlord for payment of such increased cost and that such readaptation will be made prior to such termination without expense to Landlord. 

 

	 	(b)	for making its approval conditional on Tenant’s agreement to restore the Premises to its condition prior to such alteration, addition, or improvement at the
expiration or earlier termination of the Lease Term. Notwithstanding anything to the contrary herein contained, Landlord agrees that Tenant will not be required to remove any alterations, additions, or improvements which: (i) are found in
typical business offices in the Central Business District of the City of Boston, and (ii) are not, in Landlord’s reasonable judgment, unusual costly to remove and restore. Without limiting the foregoing, Landlord shall, in any event, have
the right to require Tenant to remove internal staircases and Cable. If Tenant makes any alterations, additions or improvements to the Premises, then Landlord may, except as provided above, elect to require Tenant at the expiration or sooner
termination of the Term of this Lease to restore the Premises to substantially the same condition as existed at the Commencement Date. If Tenant so requests in writing at the time that Tenant requests Landlord’s approval of such alterations,
additions or improvements, Landlord agrees to make such election at the time that Landlord approves Tenant’s plans for any such alterations, additions or improvements. 

Landlord’s review and approval of any such plans and specifications or under Exhibit B and consent to perform work described therein
shall not be deemed an agreement by Landlord that such plans, specifications and work conform with applicable Legal Requirements and requirements of insurers of the Building and the other requirements of the Lease with respect to Tenant’s
insurance obligations (herein called “Insurance Requirements”) nor be deemed a waiver of Tenant’s obligations under this Lease with respect to applicable Legal Requirements and Insurance Requirements nor impose any liability or
obligation upon Landlord with respect to the completeness, design sufficiency or compliance of such plans, specifications and work with applicable Legal Requirements and Insurance Requirements. Further, Tenant acknowledges that Tenant is acting for
its own benefit and account, and that Tenant shall not be acting as Landlord’s agent in performing any work in the Premises; accordingly, no contractor, subcontractor or supplier shall have a right to lien Landlord’s interest in Atlantic
Wharf in connection with any such work. Within 30 days after receipt of an invoice from Landlord, Tenant shall pay to Landlord, as a fee for Landlord’s review of any plans or work (excluding any review respecting initial improvements performed
pursuant to Exhibit B or other improvements for which a fee had previously been paid, but including any review of plans or work relating to any assignment or subletting), as Additional Rent, an amount equal to the sum of : (i) $150.00
per hour for technical reviews performed in-house by Landlord’s professional staff, plus (ii) if Landlord reasonably determines that a third-party consultant is needed to review such work or plans, then Tenant shall reimburse Landlord for
the reasonable third-party out-of-pocket costs incurred by Landlord in hiring said third party to review Tenant’s plans and Tenant’s work. 

  
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 Notwithstanding anything to the contrary herein contained, Tenant shall have the right,
without obtaining Landlord’s consent, to either: (x) make cosmetic interior nonstructural alterations, additions or improvements other than installing paint and carpet, the cost of which do not exceed Four Hundred Thousand and 00/100
($400,000.00) Dollars, or (y) install paint and carpet (collectively “Cosmetic Alterations”), provided however that: 
  

	 	(i)	Tenant shall give prior written notice to Landlord of such Cosmetic Alterations; 

 

	 	(ii)	Tenant shall submit to Landlord plans for such Alterations if Tenant utilizes plans for such Cosmetic Alterations; and 

 

	 	(iii)	such Cosmetic Alterations shall not materially affect any of the Building’s systems, or the ceiling of the Premises. 

Upon and subject to the provisions of this Lease, Tenant may construct internal staircases between floors within the Premises that are
located in the Waterfront Office Building and Tenant shall have the right to select the location of such internal staircases, subject to Tenant’s obtaining Landlord’s prior written approval, which shall not be unreasonably withheld,
conditioned, or delayed. 
  

	9.2	Conformity of Work 

Tenant covenants and agrees that any alterations, additions, improvements or installations made by it to or upon the Premises shall be
done in a good and workmanlike manner and in compliance with all applicable Legal Requirements and Insurance Requirements now or hereafter in force, that materials of first and otherwise good quality shall be employed therein, that the structure of
the Building shall not be endangered or impaired thereby and that the Premises shall not be diminished in value thereby. 
  

	9.3	Performance of Work, Governmental Permits and Insurance 

 All of Tenant’s alterations and additions and installation of furnishings shall be coordinated with any work being performed by or for Landlord and in such manner as to maintain harmonious labor
relations and not to damage the Building or Atlantic Wharf or interfere with Building construction or operation and, except for installation of furnishings, shall be performed by Landlord’s general contractor or by contractors or workers first
approved by Landlord, as to which Landlord agrees to act reasonably. Except for work by Landlord’s general contractor, Tenant shall procure all necessary governmental permits before making any repairs, alterations, other improvements or
installations. Tenant agrees to save harmless and indemnify Landlord from any and all injury, loss, claims or damage to any person or property occasioned by or arising out of the doing of any such work whether the same be performed prior to or
during the Term of 

  
 Page 40

 
this Lease. At Landlord’s election, as to which Landlord agrees to act reasonably, with respect only to alterations costing in excess of Two Hundred Fifty Thousand and 00/100 Dollars
($250,000.00) and excluding Cosmetic Alteration and Landlord’s Work, Tenant shall cause its contractor to maintain a payment and performance bond in such amount and with such companies as Landlord shall reasonably approve. In addition, Tenant
shall cause each contractor to carry insurance in accordance with Section 13.14 hereof and to deliver to Landlord certificates of all such insurance. Tenant shall also prepare and submit to Landlord a set of record drawings in accordance with
the requirements of paragraph 18 of Exhibit B-1, in both print and electronic forms, showing such work performed by Tenant to the Premises promptly after any such alterations, improvements or installations are substantially complete and promptly
after any wiring or cabling for Tenant’s computer, telephone and other communications systems is installed by Tenant or Tenant’s contractor. Without limiting any of Tenant’s obligations hereunder, Tenant shall be responsible, as
Additional Rent, for the costs of any alterations, additions or improvements in or to the Building that are required in order to comply with Legal Requirements as a result of any work performed by Tenant. Landlord shall have the right to provide
rules and regulations relative to the performance of any alterations, additions, improvements and installations by Tenant hereunder, including, without limitation, payment for the costs of using Building services, provided such rules and regulations
and charges are reasonable and are generally promulgated and applied to all tenants in Atlantic Wharf on a non-discriminatory basis, and Tenant shall abide by all such reasonable rules and regulations and shall cause all of its contractors to so
abide. Tenant acknowledges and agrees that Landlord shall be the owner of any additions, alterations and improvements in the Premises or the Building to the extent paid for by Landlord. 

 

	9.4	Liens 

 Tenant covenants
and agrees to pay promptly when due the entire cost of any work done on the Premises by Tenant, its agents, employees or contractors, and not to cause or permit any liens for labor or materials performed or furnished in connection therewith to
attach to the Premises or the Building or Atlantic Wharf and immediately upon receipt of notice or actual knowledge to discharge any such liens which may so attach. 
  

	9.5	Nature of Alterations 

All work, construction, repairs, alterations, other improvements or installations made to or upon the Premises (including, but not limited
to, the construction performed by Landlord under Article IV), shall become part of the Premises and shall become the property of Landlord and remain upon and be surrendered with the Premises as a part thereof upon the expiration or earlier
termination of the Lease Term, except as follows: 
  

	 	(a)	 All trade fixtures whether by law deemed to be a part of the realty or not, installed at any time or times by Tenant or any person claiming under
Tenant shall remain the property of Tenant or persons claiming under Tenant and may be removed by Tenant or any person claiming under Tenant at any time or times during the Lease Term or any occupancy by

  
 Page 41

	 	
Tenant thereafter and shall be removed by Tenant at the expiration or earlier termination of the Lease Term if so requested by Landlord in writing at the time Landlord gives its approval for such
installation. Tenant shall repair any damage to the Premises occasioned by the removal by Tenant or any person claiming under Tenant of any such property from the Premises, except to the extent that any such damage affects improvements to the
Premises that will be demolished (in Landlord’s sole determination) by Landlord or the next tenant of such space. 

  

	 	(b)	(i) At the expiration or earlier termination of the Lease Term, Tenant shall remove: (i) any wiring, cables or other installations appurtenant thereto installed by
Tenant, or anyone claiming by, through or under Tenant, for Tenant’s computer, telephone and other communication systems and equipment whether located in the Premises or in any other portion of the Building, including all risers between floors
of the Premises (collectively, “Cable”), unless Landlord gives Tenant a written waiver of its obligation to remove Cable, and (ii) any alterations, additions and improvements made with Landlord’s consent during the Lease Term for
which such removal was made a condition of such consent under Section 9.1(b), at its sole cost and expense. Without limiting the foregoing, Tenant (a) shall remove any internal stairways and all associated appurtenances installed by or on
behalf of Tenant or anyone claiming by, through or under Tenant between floors of the Premises and Cable, equipment installed outside of the Premises (roof or mechanical floors), and fire alarm system “points and panel” within the Premises
(collectively “Internal Stairways and Appurtenances” and “Cable”), and (b) shall restore the Premises including, but not limited to, in-filling the slab openings, re-installation of ceilings which have been removed to create
“open ceilings” (collectively the “Restoration and Slab In Filling”). Upon such removal Tenant shall restore the Premises to their condition prior to such alterations, additions and improvements and repair any damage occasioned
by such removal and restoration, except to the extent that any such damage affects improvements to the Premises that will be demolished (in Landlord’s sole determination) by Landlord or the next tenant of such space. 

 

	 	(c)	 If Tenant shall make any alterations, additions or improvements to the Premises for which Landlord’s approval is required under Section 9.1
without obtaining such approval, then at Landlord’s request at any time during the Lease Term, and at any event at the expiration or earlier termination of the Lease Term, Tenant shall remove such alterations, additions and improvements and
restore the Premises to their condition prior to same and repair any damage occasioned by such removal and restoration, except to the extent that any such damage affects improvements to the Premises that will be demolished (in the sole determination
of Landlord) by Landlord or the next tenant of such space. 

  
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Nothing herein shall be deemed to be a consent to Tenant to make any such alterations, additions or improvements, the provisions of Section 9.1 being applicable to any such work.

  

	9.6	Increases in Taxes 

Tenant shall pay, as Additional Rent, one hundred percent (100%) of any increase in real estate taxes on the Building which shall, at
any time after the Commencement Date, result solely from alterations, additions or improvements to the Premises made by Tenant if the taxing authority specifically determines such increase results solely from such alterations, additions or
improvements made by Tenant. 
 ARTICLE X 
 Parking 
  

	10.1	Parking Privileges 

Subject to the next paragraph of this Section 10.1, Landlord shall provide to Tenant monthly parking privileges in the Atlantic Wharf
Garage (the “Garage”) for, forty-one (41) passenger automobiles for the parking of motor vehicles in unreserved stalls in the Garage by Tenant’s employees commencing on the Commencement Date of the Term. In the event that the
Rentable Floor Area of the Premises increases or decreases at any time during the Lease Term, the number of parking privileges provided to Tenant hereunder shall be increased or reduced proportionately, and based upon a ratio of one (1) parking
space per 2,000 rentable square feet leased to Tenant. For the purposes of this Article X, the “Maximum Number of Parking Privileges” shall be defined as 41, as the same may be increased or reduced pursuant to the immediately preceding
sentence. 
 Not later than one (1) year following the Commencement Date, time being of the essence (the “Outside
Parking Notice Date”), Tenant shall give to Landlord an irrevocable notice (“Tenant’s Final Parking Notice”) of the total number of parking privileges (not to exceed 41) which Tenant elects to have and pay for, from and after the
date of Landlord’s receipt of Tenant’s Final Parking Notice (provided same is received not later than the Outside Parking Notice Date) through and during the remainder of the Lease Term (as it may be extended). If Tenant shall fail to give
or shall fail to timely give a Tenant’s Final Parking Notice, then in either such case, Tenant shall be deemed for all purposes to have irrevocably elected to have and pay for 41 parking privileges from and after the Outside Parking Notice Date
through and during the remainder of the Lease Term (as it may be extended). Until the first to occur of (i) the Outside Parking Notice Date and (ii) the date of Landlord’s receipt of Tenant’s Final Parking Notice which must be
received prior to the Outside Parking Notice Date, Tenant shall, not later than 10 days prior to the Commencement Date and not later than five (5) days prior to the first day of each calendar month, advise Landlord of the interim number of
parking privileges Tenant elects to have and pay for, which in no event shall exceed the Maximum Number of Parking Privileges. If Tenant elects to lease fewer than the Maximum Number of Parking 

  
 Page 43

 Privileges, Tenant shall have the right, from time to time, to request that Tenant be
provided with an additional number of monthly parking privileges for use in the Garage in accordance with this Article X, which Landlord shall provide to Tenant, so long as: (i) such additional parking privileges are then available for use by
Tenant, and (ii) the number of parking privileges provided to Tenant shall not exceed the Maximum Number of Parking Privileges. 
  

	10.2	Parking Charges 

 Tenant
shall pay for such parking privileges at the prevailing monthly rates from time to time charged by the operator or operators of the Garage as quoted by Landlord to prospective office tenants of Atlantic Wharf (other than Wellington Management
Company and as opposed to the monthly rates charged to the public or other persons who are not office tenants), whether or not such operator is an affiliate of Landlord. Such monthly parking charges for parking privileges shall constitute Additional
Rent and shall be payable monthly as directed by Landlord upon billing therefor by Landlord or such operator. Tenant acknowledges that said monthly charges to be paid under this Section are for the use by the Tenant of the parking privileges
referred to herein, and not for any other service. 
  

	10.3	Garage Operation 

 Unless
otherwise determined by Landlord or the operator of such garage (the “Garage Operator”), the Garage is to be operated on (i) an attendant-managed basis, whereupon the Tenant shall be obligated to cooperate with such attendants in
parking and removing its automobiles, or (ii) a self-park basis, whereupon Tenant shall be obligated to park and remove its own automobiles, and Tenant’s parking shall be on an unreserved basis, Tenant having the right to park in any
available stalls excluding the parking nest or parking areas from time to time dedicated to Wellington Management or any other tenant or (iii) a combination of both. Tenant’s access and use privileges with respect to the Garage shall be in
accordance with regulations of uniform applicability to the users of the Garage from time to time established by the Landlord or the Garage Operator. Tenant shall receive one (1) magnetic card or access card, or other suitable device providing
access to the Garage, for each parking privilege paid for by Tenant. Tenant shall, from time to time within five (5) Business Days after receipt of a request from Landlord, supply Landlord with a then current identification roster listing, for
each access card, the name of the employee and the make, color and registration number of the primary (or secondary if applicable) vehicles to which it has been assigned. The fact that an access card has been assigned to an employee of Tenant who
has two vehicles shall not under any circumstances increase the number of parking privileges or allow both such vehicles to access the garage on the same day. The parking privileges granted herein are non-transferable (other than to an assignee or
subtenant permitted to occupy and use the Premises pursuant to the applicable provisions of Article XII hereof). Landlord or the Garage Operator may institute a so-called valet parking program for the Garage, and in such event Tenant shall cooperate
in all respects with such program. Landlord reserves for itself and any other owner the right to alter the Garage as it sees fit and in such case to 

  
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 change the Garage including the reduction in area of the same, provided that there shall be
no reduction in the number of parking privileges available to Tenant. Landlord shall maintain and operate the Garage or cause the same to be maintained and operated in accordance with first-class standards and generally consistent with Class A
office Buildings in the Central Business District in Boston that have a parking garage. 
  

	10.4	Limitations 

 Tenant
agrees that it and all persons claiming by, through and under it, shall at all times abide by all reasonable rules and regulations promulgated by Landlord or the Garage Operator with respect to the use of the Garage. Except to the extent of
negligence or willful acts, neither the Landlord nor the Garage Operator assumes any responsibility whatsoever for loss or damage due to fire or theft or otherwise to any automobile or to any personal property therein, however caused, and Tenant
agrees, upon request from the Landlord, from time to time, to notify its officers, employees and agents then using any of the parking privileges provided for herein, of such limitation of liability. Tenant further acknowledges and agrees that a
license only is hereby granted, and no bailment is intended or shall be created. 
 ARTICLE XI 

Certain Tenant Covenants 

Tenant covenants and agrees to the following during the Lease Term and for such further time as Tenant occupies any part of the Premises: 

 

	11.1	To pay when due all Annual Fixed Rent and Additional Rent and all charges for utility services rendered to the Premises and service inspections therefor except as
otherwise provided in Exhibit C and, as further Additional Rent, all charges for additional and special services rendered pursuant to Section 7.3. 

 

	11.2	To use and occupy the Premises for the Permitted Use only, and not to injure or deface the Premises or the Building or Atlantic Wharf and not to permit in the Premises
any auction sale, or flammable fluids or chemicals not used or stored in accordance with Legal Requirements, or nuisance, or the emission from the Premises of any objectionable noise or odor, nor to operate in the Premises anything which in any way
results in the leakage of fluid or the growth of mold which is visible to the naked eye or hazardous to human health, and not to use or devote the Premises or any part thereof for any purpose other than the Permitted Use, nor any use thereof which
is inconsistent with the maintenance of the Building as a Class A office building, or which is improper, offensive, contrary to law or ordinance or liable to invalidate or increase the premiums for any insurance on the Building or its contents
or liable to render necessary any alteration or addition to the Building. Landlord acknowledges and agrees that the use (as opposed to the manner of use) of the Premises for general business office use will not invalidate Landlord’s insurance
or increase the premiums therefore. Further, (i) Tenant 

  
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	 	shall not, nor shall Tenant permit its employees, invitees, agents, independent contractors, contractors, assignees or subtenants to, keep, maintain, store or dispose
of (into the sewage or waste disposal system or otherwise) or engage in any activity which might produce or generate any substance which now or hereinafter is classified as a hazardous material, waste or substance (collectively “Hazardous
Materials”), under federal, state or local laws, rules and regulations, including, without limitation, 42 U.S.C. Section 6901 et seq., 42 U.S.C. Section 9601 et seq., 42 U.S.C. Section 2601 et seq., 49 U.S.C. Section 1802 et
seq. and Massachusetts General Laws, Chapter 21E and the rules and regulations promulgated under any of the foregoing, as such laws, rules and regulations may be amended from time to time (collectively “Hazardous Materials Laws”),
(ii) Tenant shall promptly notify Landlord of any incident in, on the Premises, the Building or Atlantic Wharf that would require the filing of a notice under any Hazardous Materials Laws, (iii) Tenant shall comply and shall cause its
employees, invitees, agents, independent contractors, contractors, assignees and subtenants to comply with each of the foregoing and (iv) Landlord shall have the right to make such inspections (including testing) as Landlord shall elect from
time to time to determine that Tenant is complying with the foregoing. Notwithstanding the foregoing, Tenant may use Hazardous Materials and other substances typically used in typical business offices in class A office buildings in the Central
Business District of Boston by Tenant for the conduct of the Permitted Uses, provided that Tenant uses, stores and disposes of such Hazardous Materials and other substances in the manner which they are normally used, and in compliance with all
Hazardous Materials Laws and other applicable laws, ordinances, bylaws, rules and regulations, and Tenant obtains and complies with all permits required by Hazardous Materials Laws or any other laws, ordinances, bylaws, rules or regulations prior to
the use or presence of any such substances in the Premises. 

 Landlord represents to Tenant that, to the best of
Landlord’s knowledge, as hereinafter defined, there exist no Hazardous Materials in the Building or elsewhere at Atlantic Wharf which do not comply with applicable Hazardous Materials Laws and which require abatement or remediation. For the
purposes of this paragraph, “Landlord’s knowledge” shall mean the knowledge of Jeffrey J. Lowenberg, Vice President of Development (Landlord hereby representing that Jeffrey J. Lowenberg has had extensive involvement in the
development of Atlantic Wharf). Landlord agrees that the removal or remediation of any Hazardous Materials that become present at the Building or in, under, or upon Atlantic Wharf during the Term, other than Hazardous Materials introduced by Tenant
(or anyone claiming by, through, or under Tenant), shall be at no cost to Tenant, except as otherwise expressly set forth in Section 7.4. If any Hazardous Materials which are in violation of applicable Environmental Laws become present at the
Building or in, under or upon Atlantic Wharf during the Term, other than Hazardous Materials introduced by Tenant (or anyone claiming by, through, or under Tenant), Landlord shall (subject to Landlord’s right, at its sole discretion, to appeal
any administrative orders or legal judgments related to the determination of its liability for Hazardous Materials) cause such Hazardous Materials to be removed or remediated when, if, and in the manner required by applicable Hazardous Materials
Laws, at no cost to Tenant, except as otherwise expressly set forth in Section 7.4. 

  
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	11.3	Not to obstruct in any manner any portion of the Building not hereby leased to Tenant or any areas of Atlantic Wharf used by Tenant in common with others; not without
prior consent of Landlord to permit the painting or placing of any signs, curtains, blinds, shades, awnings, aerials or flagpoles, or the like, visible from outside the Premises; provided however, that the foregoing shall not affect Tenant’s
right to use building standard window blinds or to install and maintain any signage permitted under this Lease; and to comply with all reasonable rules and regulations for the Building now or hereafter made by Landlord, of which Tenant has been
given notice, for the care and use of the Building and Atlantic Wharf and their facilities and approaches, but Landlord shall not be liable to Tenant for the failure of other occupants of the Building to conform to such rules and regulations.
Landlord agrees that Tenant shall have the following signage rights during the Lease Term: 

  

	 	(a)	If, and so long as Brightcove Inc. itself, together with Permitted Transferees, occupy at least 120,000 rentable square feet of office space in the Building
(“Plaque Condition”), Tenant shall have the right to install and maintain a tenant identification plaque (“Plaque”) at the street level on the Waterfront Office Building in the location shown on Exhibit N. Such plaque
shall be subject to: (i) Landlord’s prior written consent, which consent shall not be unreasonably withheld, conditioned, or delayed, and (ii) Tenant obtaining all necessary governmental approvals in connection with such plaque.
Tenant shall, at Tenant’s cost, maintain the plaque in good condition. Upon the earlier of: (x) the termination or expiration of the Lease Term, or (y) Tenant’s inability to satisfy the Plaque Condition, Tenant shall, at
Tenant’s sole cost and expense, remove the plaque and repair any damage to the Waterfront Office Building caused by the installation or removal of the Plaque. 

 

	 	(b)	Landlord shall list Tenant’s name on an electronic directory in the lobby of the Waterfront Office Building (“Lobby”). Notwithstanding the
foregoing, Landlord acknowledges that, in lieu of such electronic directory, Tenant desires to install an impact electronic tenant identification display (“Impact Display”) in the Lobby. Tenant acknowledges that Landlord is
unwilling to allow Tenant to install an Impact Display in the Lobby unless the other tenants in the Waterfront Office Building, Payette Associates and Communispace (“Other Tenants”), agree to install an Impact Display. Landlord
agrees that it will attempt to arrange meetings between Tenant, Landlord and representatives of the Other Tenants to discuss the installation of an Impact Display. If Tenant and Other Tenants agree that they desire to install and maintain an Impact
Display in the Lobby as well as the terms for (“Impact Display Terms”) operating and sharing the cost (installation, operational, and removal) of such Impact Display, then Landlord will allow the installation and maintenance of such
Impact Display, subject to Landlord’s prior written approval of the location of the Impact Display, the Impact Display (as well as the materials to be shown on the Impact Display), and the Impact Display Terms, which approval shall not be
unreasonably withheld, conditioned, or delayed. 

  
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	 	(c)	Tenant shall have the right to install and maintain Building standard tenant identification signs on Tenant’s entry doors and in the elevator lobbies on which
floor of the Building on which the Premises are located. 

  

	11.4	To keep the Premises equipped with all safety appliances required by law or ordinance or any other regulation of any public authority because of any use made by Tenant
other than normal office use, and to procure all licenses and permits so required because of any use made by Tenant other than normal office use, and, if requested by Landlord, to do any work so required by Legal Requirements because of:
(i) any use by Tenant other than general office use, or (ii) alterations, additions, or improvements made by Tenant (provided, however, that Tenant shall not be required to perform work in the common areas required by Legal Requirements as
the result of alterations, additions, or improvements made by Tenant within the Premises), it being understood that the foregoing provisions shall not be construed to broaden in any way Tenant’s Permitted Use. 

 

	11.5	Not to place a load upon any floor in the Premises exceeding an average rate of 70 pounds of live load (including partitions) per square foot of floor area; and not to
move any safe, vault or other heavy equipment in, about or out of the Premises except in such manner and at such time as Landlord shall in each instance authorize. Tenant’s business machines and mechanical equipment shall be placed and
maintained by Tenant at Tenant’s expense in settings sufficient to absorb and prevent vibration or noise that may be transmitted to the Building structure or to any other space in the Building. 

 

	11.6	To pay promptly when due all taxes which may be imposed upon personal property (including, without limitation, fixtures and equipment) in the Premises to whomever
assessed. 

  

	11.7	To pay, as Additional Rent, all reasonable costs, counsel and other fees incurred by Landlord in connection with the successful enforcement by Landlord of any
obligations of Tenant under this Lease or in connection with any bankruptcy case involving Tenant. 

  

	11.8	To comply with all applicable Legal Requirements now or hereafter in force which shall impose a duty on Landlord or Tenant relating to or as a result of the use or
occupancy of the Premises, except that (i) Landlord shall be responsible for maintaining or causing to be maintained the compliance of all of the common areas and public areas of the Building, the Garage and Atlantic Wharf with all City, State
and Federal requirements concerning accessibility, including, without limitation, the requirements and regulations of the Massachusetts Architectural Access Board and all requirements of the Americans With Disabilities Act; and (ii) Tenant
shall not be required to make any alterations or additions required by Legal Requirements (including any Legal Requirements requiring installation of new building service equipment, such as fire detection or suppression equipment) to made to the
structure, roof, exterior and load bearing walls, foundation, 

  
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structural floor slabs and other structural and weatherization elements of the Building or any common utility or building service equipment wherever located, unless such alterations or additions
are required by reason of: (x) Tenant’s use of the Premises for other than general office use, or (y) alterations, additions, or improvements made by Tenant (provided, however, that in no event will Tenant be required to perform work
in the common areas required by Legal Requirements as the result of alterations, additions, or improvements made by Tenant within the Premises). Tenant shall promptly pay all fines, penalties and damages that may arise out of or be imposed because
of its failure to comply with the provisions of this Section 11.8. 

  

	11.9	In order to reduce peak-hour trip generation of employees at Atlantic Wharf, the Landlord encourages (but without any obligation under this Lease) all employers at
Atlantic Wharf to adopt flexible work schedules for its employees. The Landlord encourages all employers at Atlantic Wharf to: 

  

	 	•	 	 Save on payroll-related taxes and provide employee benefits by offering transportation benefits. 

 

	 	•	 	 Provide on-site and on-line sale of MBTA passes for employees. 

 

	 	•	 	 Encourage tenants to provide a 50% subsidy for all full-time employees. Striving for a transit subsidy of 50% is a consistent citywide goal as part of
TDM and mitigation programs. 

  

	 	•	 	 Provide information on bus and subway routes and schedules to its employees. 

 

	 	•	 	 Facilitate ridesharing through geographic matching, parking fee discounts, and preferential parking for carpools/vanpools. This may be accomplished
through membership in a TMA, use of computerized ridesharing software, or participation in MassRIDES, the Massachusetts Car Sharing program. 

  

	 	•	 	 Organize an internal ride-matching program for employees who would be more willing to participate in a ride-matching service with fellow employees than
with a large regional database. 

  

	 	•	 	 Provide preferential parking for car- or vanpool participants. Spaces will be determined on a demand basis. 

 

	11.10	Any vendors engaged by Tenant to perform services in or to the Premises including, without limitation, janitorial contractors and moving contractors shall be
coordinated with any work being performed by or for Landlord and in such manner as to maintain harmonious labor relations and not to damage the Building or Atlantic Wharf or interfere with Building construction or operation and shall be performed by
vendors first reasonably approved by Landlord. 

  

	11.11	As an inducement to Landlord to enter into this Lease, Tenant hereby represents and warrants that: (i) Tenant is not, nor is it owned or controlled directly or
indirectly by, any person, group, entity or nation named on any list issued by the Office of Foreign Assets Control of the United States Department of the Treasury (“OFAC”) pursuant to Executive Order 13224 or any similar list or any law,
order, rule or regulation or any Executive Order of the President of the United States as a terrorist, “Specially Designated National 

  
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 and Blocked Person” or other banned or blocked person (any such person, group, entity
or nation being hereinafter referred to as a “Prohibited Person”); (ii) Tenant is not (nor is it owned, controlled, directly or indirectly, by any person, group, entity or nation which is) acting directly or indirectly for or on
behalf of any Prohibited Person; and (iii) from and after the effective date of the above-referenced Executive Order, Tenant (and any person, group, or entity which Tenant controls, directly or indirectly) has not conducted nor will conduct
business nor has engaged nor will engage in any transaction or dealing with any Prohibited Person in violation of the U.S. Patriot Act or any OFAC rule or regulation, including without limitation any assignment of this Lease or any subletting of all
or any portion of the Premises or the making or receiving of any contribution of funds, goods or services to or for the benefit of a Prohibited Person in violation of the U.S. Patriot Act or any OFAC rule or regulation. In connection with the
foregoing, it is expressly understood and agreed that (x) any breach by Tenant of the foregoing representations and warranties of which Tenant does not have actual knowledge which is not corrected forthwith upon receipt of notice or actual
knowledge shall be deemed an Event of Default by Tenant under Section 15.1(d) of this Lease and shall be covered by the indemnity provisions of Section 13.1 below, and (y) the representations and warranties contained in this
subsection shall be continuing in nature and shall survive the expiration or earlier termination of this Lease. 
 ARTICLE XII

 Assignment and Subletting 
  

	12.1	Restrictions on Transfer 

Except as otherwise expressly provided herein, Tenant covenants and agrees that it shall not assign, mortgage, pledge, hypothecate or
otherwise transfer this Lease and/or Tenant’s interest in this Lease or sublet (which term, without limitation, shall include granting of concessions, licenses or the like) the whole or any part of the Premises. Any assignment, mortgage,
pledge, hypothecation, transfer or subletting not expressly permitted in this Lease or consented to by Landlord under this Article XII shall, at Landlord’s election, be void; shall be of no force and effect; and shall confer no rights on or in
favor of third parties. In addition, Landlord shall be entitled to seek specific performance of or other equitable relief with respect to the provisions hereof. 
  

	12.2	Tenant’s Notice  

Notwithstanding the provisions of Section 12.1 above, in the event Tenant desires to assign this Lease or to sublet the whole or any
part of the Premises, Tenant shall give Landlord notice (the “Proposed Transfer Notice”) of any proposed sublease or assignment, and said notice shall specify the provisions of the proposed assignment or subletting, including (a) the
name and address of the proposed assignee or subtenant, (b) in the case of a proposed assignment or subletting pursuant to Section 12.4 below, such information as to the proposed assignee’s or proposed subtenant’s net worth and
financial capability and standing as may reasonably be required for Landlord to make the 

  
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determination referred to in said Section 12.4 (provided, however, that Landlord shall hold such information confidential having the right to release same only to its officers, accountants,
attorneys and mortgage lenders on a confidential basis), (c) all of the terms and provisions upon which the proposed assignment or subletting is to be made, (d) in the case of a proposed assignment or subletting pursuant to
Section 12.4 below, all other information necessary to make the determination referred to in said Section 12.4 and (e) in the case of a proposed assignment or subletting pursuant to Section 12.5 below, such information as may be
reasonably required by Landlord to determine that such proposed assignment or subletting complies with the requirements of said Section 12.5. Tenant may, prior to identifying a proposed assignee or subtenant, give Landlord written notice
(“Notice of Intent to Transfer”) advising Landlord that Tenant intends to enter into an assignment of Tenant’s interest in the Lease or a proposed sublease of the Premises, or any portion thereof. A Notice of Intent to Transfer shall
set forth: (f) the location and size of the portion of the Premises which would be affected by such proposed assignment or sublease, (g) the estimated commencement of the term of such proposed assignment or sublease, and (h) the
estimated term of such proposed assignment or sublease. 
  

	12.3	Landlord’s Termination Right 

 Except in connection with a proposed assignment or sublease to a Permitted Transferee in accordance with Section 12.5 below, in the event Tenant proposes to assign this Lease or enter into any
sublease, Landlord shall have the right at its sole option, to be exercised within fifteen (15) days after receipt of Tenant’s Proposed Transfer Notice or Notice of Intent to Transfer, as the case may be (the “Acceptance
Period”), to terminate this Lease in the case of a proposed assignment or sublease of all or substantially all of the Premises for all or substantially all of the remaining Term, or (b) in the case of an proposed subletting of less than
all or substantially all of the Premises, to (y) terminate this Lease only as to the portion of the Premises then proposed to be sublet if such sublease shall be for all or substantially all of the remainder of the then Term, (z) recapture
the space proposed to be sublet for the term of the sublease, if such sublease is for less than all or substantially all of the remainder of the then Term), in either case as of the date specified in Tenant’s Proposed Transfer Notice as the
commencement date of the proposed assignment or subletting. For purposes of this Section 12.3, a sublease shall be deemed to be for substantially all of the remaining Term of this Lease if such sublease would expire with less than twelve
(12) months remaining prior to the expiration of the Term (taking into account any extension options previously exercised by Tenant and/or available to Tenant if Tenant notifies Landlord that Tenant expects to exercise an available extension
option). 
 In the case of a proposed assignment of this Lease or a proposed subletting of all or substantially all of the entire
Premises for all or substantially all of the Term, the Lease shall terminate on the termination date determined as above provided and on such termination date, all obligations relating to the period after such termination date (but not those
relating to the period before such termination date) shall cease and promptly upon being billed therefor by Landlord, Tenant shall make final payment of all Annual Fixed Rent and Additional Rent due from Tenant through such termination date, but
subject to the reconciliation obligations for such Additional Rent under this Lease. 

  
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 In the event that Tenant shall only propose to sublease a portion of the Premises and to
enter into a sublease for less than all or substantially all of the then-remaining Lease Term, Landlord shall only have the right to so terminate this Lease with respect to the portion of the Premises which Tenant proposes to sublease (the
“Terminated Portion of the Premises”) and for the term of the proposed sublease (the “Terminated Sublease Term”) and from and after the termination date until the end of the Terminated Sublease Term the Rentable Floor Area of the
Premises shall be reduced to the rentable floor area of the remainder of the Premises and the definition of Rentable Floor Area of the Premises shall be so amended and after such termination all references in this Lease to the “Premises”
or the “Rentable Floor Area of the Premises” shall be deemed to be references to the remainder of the Premises (i.e. the Lease Term in respect of the sublease portion of the Premises shall only be terminated for the term of the proposed
sublease and then automatically reinstated upon the expiration or earlier termination of such sublease term) and accordingly Tenant’s payments for Annual Fixed Rent, operating costs, real estate taxes and electricity shall be reduced on a pro
rata basis to reflect the size of the remainder of the Premises until the end of the Terminated Sublease Term. Upon the expiration of the Terminated Sublease Term (or, upon the vacancy of the Terminated Portion of the Premises, if the new tenant(s)
hold over beyond the expiration of the Terminated Sublease Term), Landlord shall redeliver the Terminated Portion of the Premises to Tenant in the following condition: 
  

	 	(a)	If the Terminated Sublease Term is four (4) years or less, then the Terminated Portion of the Premises shall be redelivered to Tenant in substantially the same
condition in which Tenant delivered the Terminated Portion of the Premises to Landlord, reasonable wear and tear excepted; and 

  

	 	(b)	If the Terminated Sublease Term is more than four (4) years, then the Terminated Portion of the Premises shall be delivered to Tenant either: (x) in the same
condition in which the Terminated Portion of the Premises were delivered to Landlord by Tenant, reasonably wear and tear excepted, or (y) alternatively: 

 (i) in good condition consistent with general office space, 
 (ii) free of
tenants, 
 (iii) broom clean, 
 (iv) with any Cabling which is in existence in the Premises as of the date that Tenant delivers the Termination Portion of the Premises to Landlord either remaining in the Premises or replaced with
Cabling which is functionally equivalent to such Cabling, 
 (v) in compliance with Legal Requirements (other than any
violations of Legal Requirements which were in existence as of the date that Tenant delivers the Termination Portion of the Premises to Landlord), and 

  
 Page 52

 (vi) with no Hazardous Materials existing in the Terminated Portion of the Premises (other
than Hazardous Materials which existed in the Terminated Portion of the Premises as of the date that Tenant delivers the Termination Portion of the Premises to Landlord). 
 Notwithstanding anything herein to the contrary, in the event of a proposed sublease of a portion of the Premises for the remainder of the then current Term, if Landlord exercises its termination right
hereunder, then such portion of the Premises proposed to be sublet shall cease to be part of the Premises from and after the effective date of such termination. 
 In the event that Landlord shall not exercise its termination right as aforesaid, or shall fail to give any or timely notice pursuant to this Section, the provisions of Sections 12.4, 12.6 and 12.7 shall
be applicable. This Section 12.3 shall not be applicable to an assignment or sublease pursuant to Section 12.5. 
  

	12.4	Consent of Landlord 

Notwithstanding the provisions of Section 12.1 above, but subject to the provisions of this Section 12.4 and the provisions of
Sections 12.6 and 12.7 below, in the event that Landlord shall not have exercised the termination right as set forth in Section 12.3, or shall have failed to give any or timely notice under Section 12.3, then for a period of one hundred
fifty (150) days (i) after the receipt of Landlord’s notice stating that Landlord does not elect to exercise the termination right, or (ii) after the expiration of the Acceptance Period in the event Landlord shall not give any or
timely notice under Section 12.3, as the case may be, Tenant shall have the right to assign this Lease or sublet the portion of the Premises in accordance with the Proposed Transfer Notice or Notice of Intent to Transfer, as the case may be,
provided that, in each instance, Tenant first obtains the express prior written consent of Landlord, which consent shall not be unreasonably withheld, conditioned or delayed. If Landlord fails to respond to a proper and complete Proposed Transfer
Notice within fifteen (15) business days following receipt of such Proposed Transfer Notice and a written request for Landlord’s consent to the proposed sublease or assignment described in such Proposed Transfer Notice, then Tenant shall
be entitled to send Landlord a second notice requesting Landlord’s approval thereto (“Second Transfer Notice”) which shall state in bold face, capital letters at the top thereof: “WARNING: SECOND REQUEST. FAILURE TO RESPOND TO
THIS REQUEST WITHIN FIVE (5) BUSINESS DAYS SHALL RESULT IN DEEMED APPROVAL THEREOF.” If Landlord does not respond within five (5) business days after receipt of the Second Transfer Notice, then Landlord’s consent to the
proposed assignment or subletting described in such transfer request shall be deemed to have been granted. 
 If Tenant does not
enter into a sublease or assignment in accordance with the Proposed Transfer Notice or Notice of Intent to Transfer, as the case may be, within such one hundred twenty (120) day period, then the provisions of Section 12.3 shall again apply
prior to Tenant entering into any proposed sublease or assignment. 

  
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 Without limiting the foregoing standard, Landlord shall not be deemed to be unreasonably
withholding its consent to such a proposed assignment or subleasing if: 
  

	 	(a)	the proposed assignee or subtenant is a tenant in the Building unless Landlord cannot satisfy the space needs of such assignee or subtenant (with regard only to the
size of the space and the term offered), or is (or within the previous sixty (60) days has been) in active negotiation with Landlord or an affiliate of Landlord for premises in the Building or elsewhere in Atlantic Wharf or is not of a
character consistent with the operation of a first class office building (by way of example Landlord shall not be deemed to be unreasonably withholding its consent to an assignment or subleasing to any governmental or quasi-governmental agency), or

  

	 	(b)	[Omitted Intentionally], or 

  

	 	(c)	a proposed assignee does not possess adequate financial capability to perform the Tenant obligations as and when due or required, or 

 

	 	(d)	the assignee or subtenant proposes to use the Premises (or part thereof) for a purpose other than the purpose for which the Premises may be used as stated in
Section 1.2 hereof, or 

  

	 	(e)	the character of the business to be conducted or the proposed use of the Premises by the proposed subtenant or assignee shall (i) be likely to increase Operating
Expenses for the Building beyond that which Landlord now incurs for use by Tenant and which Tenant or such subtenant does not agree to pay to Landlord; (ii) be likely to materially increase the burden on elevators or other Building systems or
equipment and which Tenant or such subtenant does not agree to alleviate or compensate to Landlord’s reasonable satisfaction over the burden prior to such proposed subletting or assignment; or (iii) violate or be likely to violate any
provisions or restrictions expressly contained in this Lease relating to the use or occupancy of the Premises, or 

  

	 	(f)	there shall be existing an Event of Default (defined in Section 15.1) or there have been two (2) or more Event of Default occurrences during the previous year
of the Term, or 

  

	 	(g)	[Omitted Intentionally], or 

  

	 	(h)	any part of the rent payable under the proposed assignment or sublease shall be based in whole or in part on the income or profits derived from

  
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the Premises or if any proposed assignment or sublease shall potentially have any adverse effect on the real estate investment trust qualification requirements applicable to Landlord and its
affiliates, or 

  

	 	(i)	the holder of any mortgage or ground lease on property which includes the Premises does not approve of the proposed assignment or sublease in accordance with the terms
of its agreement with Landlord (and provided that such holder does not unreasonably withhold, condition or delay such approval and the consent of such holder shall not be required with respect to a sublease or an assignment to any Permitted
Transferee), or 

  

	 	(j)	due to the identity or business of a proposed assignee or subtenant, such approval would cause Landlord to be in violation of any covenant or restriction contained in
another lease or other agreement affecting space in the Building or elsewhere in Atlantic Wharf. 

 If Landlord
shall consent to the proposed assignment or subletting, as the case may be, then, in such event, Tenant may thereafter sublease the portion of the Premises or assign pursuant to Tenant’s notice, as given hereunder; provided, however, that if
such assignment or sublease shall not be executed and delivered to Landlord within ninety (90) days after the date of Landlord’s consent, the consent shall be deemed null and void and the provisions of Section 12.3 shall be
applicable. 
  

	12.5	Exceptions 

Notwithstanding the foregoing provisions of Sections 12.1, 12.3, 12.4 and 12.6 above, but subject to the provisions of Section 12.7
below, Tenant shall have the right without the consent of Landlord but after reasonable advance notice (not less than fifteen (15) days before the effective date of the assignment or subletting or, if such transaction is confidential, as soon
as is reasonably possible, but in no event later than fifteen (15) days after such transaction), to assign this Lease or to sublet the Premises (in whole or in part) to Affiliate Entities, as hereinafter defined, and to Successor Entities, as
hereinafter defined. Both Affiliate Entities and Successor Entities are referred to herein as “Permitted Transferees”. An “Affiliate Entity” shall be defined as any entity which: (i) which controls or is controlled by Tenant
or Tenant’s parent corporation, or entity or (ii) which is under common control with Tenant, so long as it remains in such relationship with Tenant. A “Successor Entity” shall be defined as any entity which: (iii) which
purchases all or substantially all of the assets of Tenant, or (iv) which purchases all or substantially all of the stock of (or other membership interests in) Tenant, or (v) which merges or combines with Tenant, provided that any such
Successor Entity has a credit worthiness (e.g. assets on a pro forma basis using generally accepted accounting principles consistently applied, using the most recent financial statements after giving effect to any such merger, consolidation, or
purchase of assets, stock or other membership interests, as applicable) which is the same or better than the creditworthiness of Tenant as of the date immediately preceding the closing of such transaction. Except in cases of statutory merger, in
which case the surviving entity in the merger shall be liable 

  
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as the Tenant under this Lease, Tenant shall continue to remain fully liable under this Lease, on a joint and several basis with the Permitted Transferee. If any parent or subsidiary of Tenant to
which this Lease is assigned or the Premises sublet (in whole or in part) shall cease to be such a parent or subsidiary, such cessation shall be considered an assignment or subletting requiring Landlord’s consent. 

 

	12.6	Profit on Subleasing or Assignment 

 In the case of any assignment or subleasing as to which Landlord may consent (other than an assignment or subletting permitted under Section 12.5 above) such consent shall be upon the express and
further condition, covenant and agreement, and Tenant hereby covenants and agrees that, in addition to the Annual Fixed Rent, Additional Rent and other charges to be paid pursuant to this Lease, fifty percent (50%) of the
“Assignment/Sublease Profits” (hereinafter defined), if any, actually received shall be paid to Landlord. The “Assignment/Sublease Profits” shall be the excess, if any, of (a) the “Assignment/Sublease Net Revenues”
as hereinafter defined over (b) the Annual Fixed Rent and Additional Rent and other charges provided in this Lease (provided, however, that for the purpose of calculating the Assignment/Sublease Profits in the case of a sublease, appropriate
proportions in the applicable Annual Fixed Rent, Additional Rent and other charges under this Lease shall be made based on the percentage of the Premises subleased and on the terms of the sublease). The “Assignment/Sublease Net Revenues”
shall be the fixed rent, additional rent and all other charges and sums payable either initially or over the term of the sublease or assignment plus all other profits and increases to be derived by Tenant as a result of such subletting or
assignment that are related to the leasing or occupancy of the space, as opposed to the purchase price of the ongoing business conducted by Tenant, less the reasonable amount of all customary transaction costs of Tenant incurred in such subleasing
or assignment (the definition of which shall be limited to, brokerage commissions, legal fees, free rent, costs of alterations and improvements made for the subtenant or assignee in question and alteration allowances, in each case actually paid, as
set forth in a statement certified by an appropriate officer of Tenant and delivered to Landlord within thirty (30) days of the full execution of the sublease or assignment document, amortized over the term of the sublease or assignment.

 All payments of the Assignment/Sublease Profits due Landlord shall be made within thirty (30) days of receipt of same by
Tenant. 
  

	12.7	Additional Conditions 

  

	 	(A)	It shall be a condition of the validity of any assignment or subletting consented to under Section 12.4 above, or any assignment or subletting of right under
Section 12.5 above, that both Tenant and the assignee or sublessee enter into a separate written instrument directly with Landlord in a form and containing terms and provisions reasonably required by Landlord, including, without limitation, the
agreement of the assignee or sublessee to be bound directly to Landlord for all the obligations of the Tenant under this Lease, including any amendments or 

  
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extensions thereof (but excluding, with respect to any sublease, the rent and other monetary obligations of Tenant under this Lease), including, without limitation, the obligation (a) with
respect to an assignee, to pay the rent and other amounts provided for under this Lease and (b) to comply with the provisions of Article XII hereof and (c) to indemnify the “Landlord Parties” (as defined in Section 13.13) as
provided in Section 13.1 hereof. Such assignment or subletting shall not relieve the Tenant named herein of any of the obligations of the Tenant hereunder and Tenant shall remain fully and primarily liable therefor and the liability of Tenant
and such assignee (or subtenant, as the case may be) shall be joint and several. Further, and notwithstanding the foregoing, the provisions hereof shall not constitute a recognition of the sublease or the subtenant thereunder, as the case may be,
and at Landlord’s option, upon the termination or expiration of the Lease (whether such termination is based upon a cause beyond Tenant’s control, a default of Tenant, the agreement of Tenant and Landlord or any other reason), the sublease
shall be terminated. 

  

	 	(B)	As Additional Rent, Tenant shall pay to Landlord as a fee for Landlord’s review of any proposed assignment or sublease requested by Tenant and the preparation of
any associated documentation in connection therewith, within thirty (30) days after receipt of an invoice from Landlord, an amount equal to the sum of (i) $1,000.00 and/or (ii) reasonable out of pocket legal fees or other expenses
incurred by Landlord in connection with such request. 

  

	 	(C)	If this Lease be assigned, or if the Premises or any part thereof be sublet or occupied by anyone other than Tenant during the time period that any Event of Default of
Tenant exists and is continuing, Landlord may upon prior notice to Tenant, at any time and from time to time, collect rent and other charges from the assignee, sublessee or occupant and apply the net amount collected to the rent and other charges
herein reserved, but no such assignment, subletting, occupancy or collection shall be deemed a waiver of this covenant, or a waiver of the provisions of Article XII hereof, or the acceptance of the assignee, sublessee or occupant as a tenant or a
release of Tenant from the further performance by Tenant of covenants on the part of Tenant herein contained, the Tenant herein named to remain primarily liable under this Lease. 

 

	 	(D)	The consent by Landlord to an assignment or subletting under Section 12.4 above, or the consummation of an assignment or subletting of right under
Section 12.5 above, shall in no way be construed to relieve Tenant from obtaining the express consent in writing of Landlord to any further assignment or subletting. 

 

	 	(E)	On or after the occurrence of an “Event of Default” (defined in Section 15.1), Landlord shall be entitled to one hundred percent (100%) of any
Assignment/Sublease Profits. 

  

	 	(F)	Without limiting Tenant’s obligations under Article IX, Tenant shall be responsible, at Tenant’s sole cost and expense, for performing all work necessary

  
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to comply with Legal Requirements and Insurance Requirements in connection with any assignment or subletting hereunder including, without limitation, any work in connection with such assignment
or subletting. 

 ARTICLE XIII 
 Indemnity and Insurance 
  

	13.1	Tenant’s Indemnity 

  

	 	(A)	Indemnity. Subject to the applicable waiver of subrogation provisions of Section 13.13 below with respect only to loss or damage to the Building referred to
in Section 13.12(A) but only provided Landlord’s property insurance is not invalidated or prejudiced by this exception, to the maximum extent permitted by law, and to the extent not resulting from the negligence or willful misconduct of
any of the Landlord Parties, Tenant agrees to indemnify and save harmless the Landlord Parties (as hereinafter defined) from and against all claims of whatever nature to the extent arising from or claimed to have arisen: 

(a) if any Tenant Party first enters the Premises prior to the Commencement Date, then, with respect to any claims
arising between such first entry and the Commencement Date, from: 
 (i) any negligent act or omission, or willful misconduct of
the Tenant Parties (as hereinafter defined); or 
 (ii) any accident, injury or damage whatsoever occurring
outside the Premises but within the Building or the Garage, or on common areas or Atlantic Wharf, where such accident, injury or damage results, or is claimed to have resulted, from any negligent act or omission, or willful misconduct on the part of
any of the Tenant Parties; or 
 (iii) any breach of this Lease by Tenant; and 

(b) with respect to any claim which arises from and after the Commencement Date, or thereafter throughout and until the
end of the Lease Term and after the end of the Lease Term for so long after the end of the Lease Term as Tenant or anyone acting by, through or under Tenant is in occupancy of the Premises or any portion thereof, from: 

 

	 	(i)	any negligent act or omission, or willful misconduct of the Tenant Parties (as hereinafter defined); or 

 

	 	(ii)	any accident, injury or damage whatsoever caused to any person or to the property of any person, occurring in the Premises; or 

  
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	 	(iii)	any accident, injury or damage whatsoever occurring outside the Premises but within the Building or the Garage, or on common areas or Atlantic Wharf, where such
accident, injury or damage results, or is claimed to have resulted, from any negligent act or omission, or willful misconduct on the part of any of the Tenant Parties; or 

 

	 	(iv)	any breach of this Lease by Tenant. 

 (c) Tenant shall pay all indemnified amounts under this Section 13.1(A) as they are incurred by the Landlord Parties. This indemnification shall not be construed to deny or reduce any other rights or
obligations of indemnity that any of the Landlord Parties may have under this Lease or the common law. 
  

	 	(B)	Breach. In the event that Tenant breaches any of its indemnity obligations hereunder or under any other contractual or common law indemnity: (i) Tenant
shall pay to the Landlord, all liabilities, loss, cost, or expense (including attorney’s fees) incurred as a result of said breach; and (ii) the Landlord may deduct and offset from any amounts due to Tenant under this Lease any amounts
owed by Tenant pursuant to this Section 13.1(B). 

  

	 	(C)	No limitation. The indemnification obligations under this Section 13.1 shall not be limited in any way by any limitation on the amount or type of damages,
compensation or benefits payable by or for Tenant or any subtenant or other occupant of the Premises under workers’ compensation acts, disability benefit acts, or other employee benefit acts. Tenant waives any immunity from or limitation on its
indemnity or contribution liability to the Landlord Parties based upon such acts. 

  

	 	(D)	Subtenants and other occupants. Tenant shall require its subtenants and other occupants of the Premises to provide similar indemnities to the Landlord Parties to
the extent arising from the sublease or the subtenant’s use or occupancy of any part of the Premises or any other portion of Atlantic Wharf and in a form reasonably acceptable to Landlord. 

 

	 	(E)	Survival. The terms of this Section 13.1 shall survive any termination or expiration of this Lease. 

 

	 	(F)	 Costs. The foregoing indemnity and hold harmless agreement shall include indemnity for all costs, expenses and liabilities (including, without
limitation, attorneys’ fees and disbursements) incurred by the Landlord Parties in connection with any such claim or any action or proceeding brought thereon, and the defense thereof. In addition, in the event that any action or proceeding
shall be brought 

  
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against one or more Landlord Parties by reason of any such claim, Tenant, upon request from the Landlord Party, shall resist and defend such action or proceeding on behalf of the Landlord Party
by counsel appointed by Tenant’s insurer (if such claim is covered by insurance without reservation) or otherwise by counsel reasonably satisfactory to the Landlord Party. The Landlord Parties shall not be bound by any compromise or settlement
of any such claim, action or proceeding without the prior written consent of such Landlord Parties, as to which they hereby agree to act reasonable. 

  

	13.2	Tenant’s Risk 

Tenant agrees to use and occupy the Premises, and to use such other portions of the Building and Atlantic Wharf as Tenant is given the
right to use by this Lease, at Tenant’s own risk; provided however, that the provisions of this sentence shall not limit Landlord’s obligations as expressly stated in this Lease. The Landlord Parties shall not be liable to the Tenant
Parties for any damage, injury, loss, compensation, or claim (including, but not limited to, claims for the interruption of or loss to a Tenant Party’s business) based on, arising out of or resulting from any cause whatsoever, including, but
not limited to, repairs to any portion of the Premises or the Building or Atlantic Wharf, any fire, robbery, theft, mysterious disappearance, or any other crime or casualty, the actions of any other tenants of the Building or of any other person or
persons, or any leakage in any part or portion of the Premises or the Building or Atlantic Wharf, or from water, rain or snow that may leak into, or flow from any part of the Premises or the Building or Atlantic Wharf, or from drains, pipes or
plumbing fixtures in the Building or Atlantic Wharf except to the extent caused by the negligence or willful failure of Landlord to correct such condition after notice and reasonable opportunity to cure. Any goods, property or personal effects
stored or placed in or about the Premises shall be at the sole risk of the Tenant Party, and neither the Landlord Parties nor their insurers shall in any manner be held responsible therefor. The Landlord Parties shall not be responsible or liable to
a Tenant Party, or to those claiming by, through or under a Tenant Party, for any loss or damage that may be occasioned by or through the acts or omissions of persons occupying adjoining premises or any part of the premises adjacent to or connecting
with the Premises or any part of the Building or otherwise. 
  

	13.3	Tenant’s Commercial General Liability Insurance 

 Tenant agrees to maintain in full force on or before the earlier of (i) the date on which any Tenant Party first enters the Premises for any reason or (ii) the Commencement Date, and thereafter
throughout and until the end of the Lease Term, and after the end of the Lease Term for so long as Tenant or anyone acting by, through or under Tenant is in occupancy of the Premises or any portion thereafter, a policy of commercial general
liability insurance, on an occurrence basis, issued on a form at least as broad as Insurance Services Office (“ISO”) Commercial General Liability Coverage “occurrence” form CG 00 01 10 01 or another Commercial General Liability
“occurrence” form providing equivalent coverage. Such insurance shall include broad form contractual liability coverage, specifically covering but not limited to the indemnification obligations undertaken by Tenant in this Lease, exclusive
of Tenant’s indemnification obligations 

  
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under Sections 13.1A(a)(iii) and 13.1A(b)(iv). The minimum limits of liability of such insurance including an Umbrella policy shall be Five Million Dollars ($5,000,000) per occurrence. In
addition, in the event Tenant hosts a function in the Premises, Tenant agrees to obtain, and cause any persons or parties providing services for such function to obtain, the appropriate insurance coverages as reasonably determined by Landlord
(including liquor liability coverage, if applicable) and provide Landlord with evidence of the same. 
  

	13.4	Tenant’s Property Insurance 

 Tenant shall maintain at all times during the Term of the Lease, and during such earlier time as Tenant may be performing work in or to the Premises or have property, fixtures, furniture, equipment,
machinery, goods, supplies, wares or merchandise on the Premises, and continuing thereafter so long as Tenant is in occupancy of any part of the Premises, business interruption insurance and insurance against loss or damage covered by the so-called
“Special Risk of Loss” type insurance coverage (excluding flood and earthquake) with respect to Tenant’s property, fixtures, furniture, equipment, machinery, goods, supplies, wares and merchandise, and other property of Tenant located
at the Premises, which are permitted to be removed by Tenant at the expiration or earlier termination of the Lease Term (collectively “Tenant’s Property”). The business interruption insurance required by this Section 13.4 shall
be in minimum amounts typically carried by prudent tenants engaged in similar operations, but in no event shall be in an amount less than the Annual Fixed Rent then in effect during any Lease Year, plus any Additional Rent due and payable for the
immediately preceding Lease Year. The “Special Risk of Loss” insurance required by this section shall be in an amount at least equal to the full replacement cost of Tenant’s Property. In addition, during such time as Tenant is
performing work in or to the Premises, Tenant, at Tenant’s expense, shall also maintain, or shall cause its contractor(s) to maintain, builder’s risk insurance for the full insurable value of such work. Subject to the terms of this
Section 13.4, Landlord, each mortgagee (if any), and such additional persons or entities as Landlord may reasonably request shall be named as loss payees, as their interests may appear, on the policy or policies required by this Lease but only
to the extent of alterations or improvements which Landlord is obligated to restore pursuant to Article XIV. In the event of loss or damage covered by the “Special Risk of Loss” insurance required by this Lease, the responsibilities for
repairing or restoring the loss or damage shall be determined in accordance with Article XIV. To the extent that Landlord is obligated to pay for the repair or restoration of the loss or damage covered by the policy, Landlord shall be paid the
proceeds of the “Special Risk of Loss” insurance covering the loss or damage. To the extent Tenant is obligated to pay for the repair or restoration of the loss or damage, covered by the policy, Tenant shall be paid the proceeds of the
“Special Risk of Loss” insurance covering the loss or damage. If both Landlord and Tenant are obligated to pay for the repair or restoration of the loss or damage covered by the policy, the insurance proceeds payable under Landlord’s
insurance with respect to the leasehold improvements in the Premises shall be paid to each of them in the pro rata proportion of their obligations to repair or restore the loss or damage. If the loss or damage occurs during the initial Lease Term
and is not repaired or 

  
 Page 61

 
restored (for example, if the Lease is terminated pursuant to Article XIV), such insurance proceeds shall be paid to Landlord and Tenant in the pro rata proportion of their relative contributions
to the cost of the leasehold improvements covered by the policy (except that, for the purposes of determining Tenant’s share [“Tenant’s Share of Insurance Proceeds”] of the insurance proceeds, Tenant’s contribution
toward the cost of the leasehold improvements shall be amortized over the initial Lease Term on a straight-line basis). If the loss or damage occurs after the initial Lease Term is not repaired or restored all such insurance proceeds shall be paid
to Landlord. Tenant shall promptly execute and return any documents reasonably requested by Tenant’s insurer in order for such insurance proceeds to be disbursed pursuant to the provisions of this Section 13.4, provided that Tenant shall
not be required to incur any cost or to incur any liability in order to comply with such request. 
  

	13.5	Tenant’s Other Insurance 

 Tenant agrees to maintain in full force on or before the earlier of (i) the date on which any Tenant Party first enters the Premises for any reason or (ii) the Commencement Date, and thereafter
throughout the end of the Term, and after the end of the Term for so long after the end of the Term as Tenant or anyone acting by, through or under Tenant is in occupancy of the Premises or any portion thereafter: (1) if Tenant owns or operates
any automobiles, comprehensive automobile liability insurance (covering any automobiles owned or operated by Tenant) issued on a form at least as broad as ISO Business Auto Coverage form CA 00 01 07 97 or other form providing equivalent coverage;
(2) worker’s compensation insurance; and (3) employer’s liability insurance. Such automobile liability insurance shall be in an amount not less than One Million Dollars ($1,000,000) for each accident. Such worker’s
compensation insurance shall carry minimum limits as defined by the law of the jurisdiction in which the Premises are located (as the same may be amended from time to time). Such employer’s liability insurance shall be in an amount not less
than Five Hundred Thousand ($500,000) Dollars for each accident, Five Hundred Thousand ($500,000) Dollars disease-policy limit, and Five Hundred Thousand ($500,000) Dollars disease-each employee, with a $1,000,000 umbrella coverage in excess of each
of such $500,000 limits. 
  

	13.6	Requirements for Tenant’s Insurance  

 All insurance required to be maintained by Tenant pursuant to this Lease shall be maintained with responsible companies that are admitted to do business, and are in good standing in the Commonwealth of
Massachusetts and that have a rating of at least “A” and are within a financial size category of not less than “Class A-VIII” in the most current Best’s Key Rating Guide or such similar rating as may be reasonably selected
by Landlord. All such insurance shall: (1) be reasonably acceptable in form and content to Landlord; and (2) be primary and noncontributory as to claims arising from Tenant’s use or occupancy of the Premises. Tenant covenants that it
shall give Landlord thirty (30) days’ prior written notice (by certified or registered mail, return receipt requested, or by fax or email) of cancellation, failure to renew, reduction of amount of insurance, or material change in coverage.
No such policy shall contain any deductible greater than 

  
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 Twenty Five Thousand Dollars ($25,000) with respect to liability insurance or One Hundred
Thousand Dollars ($100,000) with respect to property insurance. Such deductibles and self-insured retentions shall be deemed to be “insurance” for purposes of the waiver in Section 13.13 below. Landlord reserves the right from time to
time to require Tenant to obtain higher minimum amounts of insurance based on such limits as are customarily carried with respect to similar properties in the area in which the Premises are located. The minimum amounts of insurance required by this
Lease shall not be reduced by the payment of claims or for any other reason. In the event Tenant shall fail to obtain or maintain any insurance meeting the requirements of this Article, or to deliver such policies or certificates as required by this
Article, Landlord may, at its option, after five (5) days notice to Tenant, procure such policies for the account of Tenant, and the cost thereof shall be paid to Landlord within ten (10) days after delivery to Tenant of bills therefor.

  

	13.7	Additional Insureds 

 The
commercial general liability and auto insurance carried by Tenant pursuant to this Lease, and any additional liability insurance carried by Tenant pursuant to Section 13.3 of this Lease, shall name Landlord, Landlord’s managing agent, each
mortgagee (if any), and such other Persons as Landlord may reasonably request from time to time by notice to Tenant as additional insureds with respect to liability arising out of or related to this Lease or the operations of Tenant (collectively
“Additional Insureds”). Such insurance shall provide primary coverage with respect to claims arising from the use or occupancy of the Premises by Tenant or anyone claiming by, through or under Tenant without contribution from any other
insurance carried by or for the benefit of Landlord, Landlord’s managing agent, each mortgagee (if any), or other Additional Insureds. Such insurance shall also waive any right of subrogation against each Additional Insured provided they are a
party or otherwise agree to be bound by the mutual waiver of subrogation in Section 13.13 below. 
  

	13.8	Certificates of Insurance 

On or before the earlier of (i) the date on which any Tenant Party first enters the Premises for any reason or (ii) the
Commencement Date, Tenant shall furnish Landlord with certificates evidencing the insurance coverage required by this Lease, and renewal certificates shall be furnished to Landlord at least annually thereafter, and at least ten (10) days prior
to the expiration date of each policy for which a certificate was furnished (acceptable forms of such certificates for liability and property insurance, respectively, are attached as Exhibit K). Failure by the Tenant to provide the certificates
required by this Section 13.8 shall not be deemed to be a waiver of the requirements in this Section 13.8. Upon reasonable request by Landlord, a true and complete copy of any insurance policy required by this Lease shall be delivered to
Landlord within ten (10) days following Landlord’s written request, provided such copy may be redacted to protect information which is not relevant to Landlord, the Premises, or Atlantic Wharf. 

  
 Page 63

	13.9	Subtenants and Other Occupants 

 Tenant shall require its subtenants and other occupants of the Premises to provide written documentation evidencing the obligation of such subtenant or other occupant to indemnify the Landlord Parties to
the same extent that Tenant is required to indemnify the Landlord Parties pursuant to Section 13.1 above, and to maintain insurance that meets the requirements of this Article, and otherwise to comply with the requirements of this Article.
Tenant shall require all such subtenants and occupants to supply certificates of insurance evidencing that the insurance requirements of this Article have been met and shall forward such certificates to Landlord on or before the earlier of
(i) the date on which the subtenant or other occupant or any of their respective direct or indirect partners, officers, shareholders, directors, members, trustees, beneficiaries, servants, employees, principals, contractors, licensees, agents,
invitees or representatives first enters the Premises or (ii) the commencement of the sublease. Tenant shall be responsible for identifying and remedying any deficiencies in such certificates or policy provisions. 

 

	13.10	No Violation of Building Policies 

 Tenant shall not commit or permit any violation of the policies of fire, boiler, sprinkler, water damage or other insurance covering Atlantic Wharf and/or the fixtures, equipment and property therein
carried by Landlord of which Tenant has received written notice of the requirements, or do or permit anything to be done, or keep or permit anything to be kept, in the Premises, which in case of any of the foregoing (i) would result in
termination of any such policies, (ii) would adversely affect Landlord’s right of recovery under any of such policies, or (iii) would result in reputable and independent insurance companies refusing to insure Atlantic Wharf or the
property of Landlord in amounts reasonably satisfactory to Landlord. 
  

	13.11	Tenant to Pay Premium Increases 

 If, because of anything done, caused or permitted to be done, or omitted by Tenant (or its subtenant or other occupants of the Premises), other than general business office use the rates for liability,
fire, boiler, sprinkler, water damage or other insurance on Atlantic Wharf and equipment of Landlord shall be higher than they otherwise would be, Tenant shall reimburse Landlord for the additional insurance premiums thereafter paid by Landlord or
by any of the other tenants and subtenants in the Building which shall have been charged because of the aforesaid reasons, such reimbursement to be made from time to time on Landlord’s demand. 

 

	13.12	Landlord’s Insurance 

  

	 	(A)	 Required insurance. Landlord shall maintain: (i) insurance against loss or damage with respect to the Building on an “Special Risk of
Loss” type insurance form and so-called “Builder’s Risk” type insurance, with customary exceptions, subject to such deductibles as Landlord may determine, in an amount equal to at least the replacement value of the Building, as
well such “Special Risk of Loss” insurance 

  
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with respect to Landlord’s Work (but not improvements, alterations or fixtures which are installed after the Commencement Date by, or on behalf of, Tenant or anyone claiming by, through or
under Tenant), and (ii) commercial general liability insurance with such limits as Landlord may reasonably determine. The cost of such insurance shall be treated as a part of Operating Expenses for the Building. Such insurance shall be
maintained with an insurance company selected by Landlord meeting the standards required for Tenant’s insurance carrier under Section 13.6 above. Payment for losses thereunder shall be made solely to Landlord subject to Section 13.4.

  

	 	(B)	Optional insurance. Landlord may maintain such additional insurance with respect to the Building and Atlantic Wharf, including, without limitation, earthquake
insurance, terrorism insurance, flood insurance, liability insurance and/or rent insurance, as Landlord reasonably determines is prudent to be carried by institutional owners of similar Class A office buildings in the Central Business District
of Boston. Landlord may also maintain such other insurance as may from time to time be required by the holder of any mortgage on the Building or Atlantic Wharf. The cost of all such additional insurance shall also be part of the Operating Expenses
for the Building. 

  

	 	(C)	Blanket and self-insurance. Any or all of Landlord’s insurance may be provided by blanket coverage maintained by Landlord or any affiliate of Landlord under
its insurance program for its portfolio of properties, or by Landlord or any affiliate of Landlord under a program of self-insurance, and in such event Operating Expenses for the Building shall include the portion of the reasonable cost of blanket
insurance or self-insurance that is reasonably allocated to the Building. 

  

	 	(D)	No obligation. Landlord shall not be obligated to insure, and shall not assume any liability of risk of loss for, Tenant’s Property, including any such
property or work of Tenant’s subtenants or occupants. Landlord will also have no obligation to carry insurance against, nor be responsible for, any loss suffered by Tenant, subtenants or other occupants due to interruption of Tenant’s or
any subtenant’s or occupant’s business. 

  

	13.13	Waiver of Subrogation 

The parties hereto waive and release any and all rights of recovery against the other, and agree not to seek to recover from the other or
to make any claim against the other, and in the case of Landlord, against all “Tenant Parties” (hereinafter defined), and in the case of Tenant, against all “Landlord Parties” (hereinafter defined), for any loss or damage
incurred by the waiving/releasing party to the extent such loss or damage is insured under any insurance policy required by this Lease or which would have been so insured had the party carried the insurance it was required to carry hereunder. Tenant
shall obtain from its subtenants and other occupants of the Premises a similar waiver and release of claims against any or all of Tenant Parties or Landlord Parties. Landlord agrees that any subtenant or licensee of the Premises who is permitted to
occupy and use the Premises 

  
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pursuant to Article 12 of the Lease shall have the benefit of Landlord’s waivers under this Section 13.13, on the condition that such subtenant or licensee expressly agrees to provide a
similar waiver and release of claims against all Landlord Parties in accordance with this Section 13.13. In addition, the parties hereto (and in the case of Tenant, its subtenants and other occupants of the Premises) shall procure an
appropriate clause in, or endorsement on, any insurance policy required by this Lease pursuant to which the insurance company waives subrogation. The insurance policies required by this Lease shall contain no provision that would invalidate or
restrict the parties’ waiver and release of the rights of recovery in this section. The parties hereto covenant that no insurer shall hold any right of subrogation against the parties hereto by virtue of such insurance policy. 

The term “Landlord Party” or “Landlord Parties” shall mean Landlord, any affiliate of Landlord, Landlord’s
managing agents for the Building, each mortgagee (if any), each ground lessor (if any), and each of their respective direct or indirect partners, officers, shareholders, directors, members, trustees, beneficiaries, servants, employees, principals,
contractors, licensees, agents or representatives. For the purposes of this Lease, the term “Tenant Party” or “Tenant Parties” shall mean Tenant, any affiliate of Tenant, any permitted subtenant or any other permitted occupant of
the Premises, and each of their respective direct or indirect partners, officers, shareholders, directors, members, trustees, beneficiaries, servants, employees, principals, contractors, licensees, agents, invitees or representatives. 

 

	13.14	Tenant’s Work 

During such times as Tenant is performing work or having work or services performed in or to the Premises, Tenant shall require its
contractors, and their subcontractors of all tiers, to obtain and maintain commercial general liability, automobile, workers compensation, employer’s liability, builder’s risk, and equipment/property insurance in such amounts and on such
terms as are customarily required of such contractors and subcontractors on similar projects. The amounts and terms of all such insurance are subject to Landlord’s written approval, which approval shall not be unreasonably withheld. The
commercial general liability and auto insurance carried by Tenant’s contractors and their subcontractors of all tiers pursuant to this section shall name Landlord, Landlord’s managing agent, and such other persons as Landlord may
reasonably request from time to time as additional insureds with respect to liability arising out of or related to their work or services (collectively “Additional Insureds”). Such insurance shall provide primary coverage with respect to
liability arising out of or related to their work or services without contribution from any other insurance carried by or for the benefit of Landlord, Landlord’s managing agent, each mortgagee (if any), or other Additional Insureds. Such
insurance shall also waive any right of subrogation against each Additional Insured. Tenant shall obtain and submit to Landlord, prior to the earlier of (i) the entry onto the Premises by such contractors or subcontractors or
(ii) commencement of the work or services, certificates of insurance evidencing compliance with the requirements of this section. 

  
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	13.15	Landlord Indemnification. 

Subject to the provisions of Section 13.13, to the maximum extent this agreement is effective according to law and to the extent not
resulting from any act, omission, fault, negligence or misconduct of Tenant or its contractors, agents, licensees, invitees, servants or employees, Landlord agrees to defend with counsel first approved by Tenant (counsel appointed by Landlord’s
insurance carrier shall be deemed approved by Tenant and for any other circumstances such approval shall not be unreasonably withheld or delayed) indemnify and save harmless Tenant and Tenant’s beneficiaries, partners, subsidiaries, officers,
directors, agents, trustees and employees (collectively, the “Tenant Parties”) from and against any claim arising from any injury to any person occurring in the Premises, in the Building or elsewhere at Atlantic Wharf from and after the
date that Landlord commences construction of the Landlord’s Work and until the expiration or earlier termination of the Lease Term, to the extent such injury results from the negligence or willful misconduct of Landlord or Landlord’s
agents, employees or contractors provided, however that in no event shall the aforesaid indemnity render Landlord responsible or liable for any loss or damage to fixtures or personal property of Tenant and Landlord shall in no event be liable for
any indirect or consequential damages; and provided, further, that the provisions of this Section 13.13 shall not be applicable to the holder of any mortgage now or hereafter on the Building or Atlantic Wharf (whether or not such holder shall
be a mortgagee in possession of or shall have exercised any rights under a conditional, collateral or other assignment of leases and/or rents respecting, the Building and/or Atlantic Wharf) except to the extent otherwise agreed by such holder in any
Subordination, Non-Disturbance and Attornment Agreement by and between Tenant and such holder. 
 ARTICLE XIV 

Fire, Casualty and Taking 
  

	14.1	Damage Resulting from Casualty  

 In the event of loss of, or damage to, the Premises or the Building by fire or other casualty, the rights and obligations of the parties hereto shall be as follows: 

If the Premises, or any part thereof, shall be damaged by fire or other casualty, Tenant shall give prompt notice thereof to Landlord, and
Landlord shall furnish to Tenant, as soon as practicable following such damage, but in any event within ninety (90) days after the casualty), an estimate from Landlord’s Architect of the time required to repair such damage. If, according
to such estimate, such repair is not expected to be completed within three hundred ten (310) days from the date of such damage, Tenant may terminate this Lease by notice to Landlord given within twenty (20) days after the furnishing of
such estimate, specifying the date on which the Term of this Lease shall terminate, which termination date shall be not less than twenty (20) days nor more than forty five (45) days after the date of such termination notice. 

  
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 If, as a result of fire or other casualty, the whole or a substantial portion of the
Building is substantially damaged, Landlord, within ninety (90) days from the date of such fire or casualty, may terminate this Lease by notice to Tenant, specifying a date not less than twenty (20) nor more than forty five (45) days
after the giving of such notice on which the Term of this Lease shall terminate, provided however that notwithstanding anything contained herein to the contrary, (1) in the event of a fire or other casualty as a result of which no part of the
Premises is damaged or destroyed, Landlord shall have no right to terminate this Lease unless Landlord shall at the same time or substantially at the same time terminate the leases of all other tenants in the Building whose leased premises also have
not been damaged by such fire or casualty and if so terminated, Tenant shall have not less than ninety (90) days following Landlord’s termination notice to vacate the Premises, and (2) in the event of a fire or other casualty as a
result of which any part of the Premises is damaged or destroyed, Landlord shall have no right to terminate this Lease unless Landlord shall in the same general time period terminate the leases of all other tenants in the Building whose leased
premises have been affected by such fire or casualty to an equal or greater extent. For purposes hereof, any damage to the Building by fire or other casualty shall be deemed substantial only if, according to an estimate from Landlord’s
Architect, the time required to repair such damage is expected to exceed three hundred ten (310) days from the date of the damage. 
 If during the last Lease Year of the Lease Term (as it may have been extended), the Building shall be damaged by fire or casualty and such fire or casualty damage to the Premises cannot reasonably be
expected to be repaired or restored within one hundred twenty (120) days from the time that repair or restoration work would commence as reasonably determined by Landlord, then Tenant shall have the right, by giving notice to Landlord not later
than thirty (30) days after such damage, to terminate this Lease, whereupon this Lease shall terminate as of the date of such notice with the same force and effect as if such date were the date originally established as the expiration date
hereof. 
 If the Building or any part thereof is damaged by fire or casualty and this Lease is not so terminated, or Landlord
and Tenant have no right to terminate this Lease, and in either such case the holder of any mortgage which includes the Building as a part of the mortgaged premises or any ground lessor of any ground lease which includes the Building as part of the
demised premises allows the net insurance proceeds to be applied to the restoration of the Building in accordance with the terms of such mortgage, Landlord, subject to any limitations imposed by Legal Requirements, promptly after such damage and the
determination of the net amount of insurance proceeds available shall use due diligence to restore the Premises (including Landlord’s Work, but not improvements, alterations or fixtures which are installed after the Commencement Date by, or on
behalf of, Tenant or anyone claiming by, through or under Tenant, which shall be Tenant’s responsibility to restore, at Tenant’s election) and the Building in the event of damage thereto (excluding Tenant’s Property (as defined in
Section 13.4 hereof)) into substantially its condition prior to the casualty] and a just proportion of the Annual Fixed Rent, the Operating Cost Excess and the Tax Excess according to the nature and extent of

  
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the injury to the Premises and access thereto shall be abated from the date of casualty until the Premises shall have been put by Landlord substantially into such condition. Notwithstanding the
foregoing, Landlord shall not be obligated to expend for such repairs and restoration any amount in excess of the net insurance proceeds, provided that, in such event, Landlord gives written notice so advising Tenant within ninety (90) days
after the casualty in question; provided however, that the foregoing shall not affect Tenant’s rights to Tenant’s Share of Insurance Proceeds, as defined in Section 13.4, if the Premises are not restored after a casualty during the
initial Lease Term. 
 If Landlord gives Tenant written notice (“Inadequate Insurance Proceeds Notice”) that the
insurance proceeds available to Landlord are inadequate to enable Landlord complete repairs and restoration of casualty damage, Tenant shall have the right to terminate this Lease by giving Landlord a written termination notice within thirty
(30) days after Landlord gives an Inadequate Insurance Proceeds Notice to Tenant. 
 Where Landlord is obligated or
otherwise elects to effect restoration of the Premises, unless such restoration is completed on or before the date sixty (60) days following the anticipated completion date set forth in Landlord’s original completion estimate
(“Estimated Restoration Period”), such Estimated Restoration Period to be subject, however, to extension where the delay in completion of such work is due to Force Majeure, as defined hereinbelow (but in no event by more than sixty
(60) days as the result of Force Majeure Delays) and subject to extension arising from delays caused by Tenant, or Tenant’s agents, employees or contractors, Tenant, as its sole and exclusive remedy, shall have the right to terminate this
Lease at any time after the expiration of such Estimated Restoration Period (as extended) until the restoration is substantially completed, such termination to take effect as of the thirtieth (30th) day after the date of receipt by Landlord of
Tenant’s notice, with the same force and effect as if such date were the date originally established as the expiration date hereof unless, within such thirty (30) day period such restoration is substantially completed, in which case
Tenant’s notice of termination shall be of no force and effect and this Lease and the Lease Term shall continue in full force and effect. The term “Force Majeure” shall mean any prevention, delay or stoppage due to governmental
regulation, strikes, lockouts, acts of God, acts of war, terrorists acts, civil commotions, unusual scarcity of or inability to obtain labor or materials, labor difficulties, casualty or other causes reasonably beyond Landlord’s control or
attributable to Tenant’s action or inaction. 
  

	14.2	Uninsured Casualty 

Notwithstanding anything to the contrary contained in this Lease, if the Building or the Premises shall be substantially damaged by fire
or casualty as the result of a risk not covered by the forms of casualty insurance at the time maintained or required to be maintained by Landlord and such fire or casualty damage cannot, in the ordinary course, reasonably be expected to be repaired
within thirty (30) days from the time that repair work would commence, and Landlord determines not to repair the damage and terminates the leases of all tenants of Atlantic Wharf affected to a comparable degree by such casualty, Landlord may,
at its election, terminate the Term of this Lease by notice to 

  
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 Tenant given within thirty (30) days after such loss. If Landlord shall give such
notice, then this Lease shall terminate as of the date of such notice with the same force and effect as if such date were the date originally established as the expiration date hereof. 

 

	14.3	Rights of Termination for Taking 

 If the Building, or such portion thereof as to render the balance (if reconstructed to the maximum extent practicable in the circumstances) unsuitable for Tenant’s purposes, shall be taken by
condemnation or right of eminent domain, Landlord or Tenant shall have the right to terminate this Lease by notice to the other of its desire to do so, provided that such notice is given not later than thirty (30) days after Tenant has been
deprived of possession. If either party shall give such notice, then this Lease shall terminate as of the date specified in such notice with the same force and effect as if such date were the date originally established as the expiration date
hereof. 
 Further, if so much of the Building or Atlantic Wharf shall be so taken that continued operation of the Building would
be uneconomic, Landlord shall have the right to terminate this Lease by giving notice to Tenant of Landlord’s desire to do so not later than thirty (30) days after Tenant has been deprived of possession of the Premises (or such portion
thereof as may be taken) and provided Landlord terminates the leases of all tenants of Atlantic Wharf affected to a comparable degree by such taking. If Landlord shall give such notice, then this Lease shall terminate as of the date of such notice
with the same force and effect as if such date were the date originally established as the expiration date hereof. 
 Should any
part of the Premises be so taken or condemned during the Lease Term hereof, and should this Lease not be terminated in accordance with the foregoing provisions, and the holder of any mortgage which includes the Premises as part of the mortgaged
premises or any ground lessor of any ground lease which includes the Premises as part of the demised premises allows the net condemnation proceeds to be applied to the restoration of the Building, Landlord agrees that after the determination of the
net amount of condemnation proceeds available to Landlord, Landlord shall use due diligence to put what may remain of the Premises into proper condition for use and occupation as nearly like the condition of the Premises prior to such taking as
shall be practicable (excluding Tenant’s Property). Notwithstanding the foregoing, Landlord shall not be obligated to expend for such repair and restoration any amount in excess of the net condemnation proceeds made available to it. 

If the Premises shall be affected by any exercise of the power of eminent domain and neither Landlord nor Tenant shall terminate this
Lease as provided above, then the Annual Fixed Rent, the Operating Cost Excess and the Tax Excess shall be justly and equitably abated and reduced according to the nature and extent of the loss of use thereof suffered by Tenant; and in case of a
taking which permanently reduces the Rentable Floor Area of the Premises, a just proportion of the Annual Fixed Rent, the Operating Cost Excess and the Tax Excess shall be abated for the remainder of the Lease Term. 

  
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	14.4	Award 

 Except as
otherwise provided in this Section 14.4, Landlord shall have and hereby reserves and excepts, and Tenant hereby grants and assigns to Landlord, all rights to recover for damages to the Building, Atlantic Wharf, and the Garage and the leasehold
interest hereby created, and compensation accrued or hereafter to accrue by reason of such taking, damage or destruction, as aforesaid, and by way of confirming the foregoing, Tenant hereby grants and assigns, and covenants with Landlord to grant
and assign to Landlord, all rights to such damages or compensation. 
 However, nothing contained herein shall be construed to
prevent Tenant from prosecuting in any such proceedings a claim for its trade fixtures so taken or relocation, Tenant’s Property (other than leasehold improvements), moving and other dislocation expenses, provided that such action shall not
affect the amount of compensation otherwise recoverable by Landlord from the taking authority. 
 ARTICLE XV 

Default 
  

	15.1	Tenant’s Default 

This Lease and the term of this Lease are subject to the limitation that if, at any time during the Lease Term, any one or more of the
following events (herein called an “Event of Default” a “default of Tenant” or similar reference) shall occur and not be cured prior to the expiration of the grace period (if any) herein provided, as follows: 

 

	 	(a)	Tenant shall fail to pay any installment of the Annual Fixed Rent, or any Additional Rent or any other monetary amount due under this Lease on or before the date on
which the same becomes due and payable, and such failure continues for five (5) days after written notice from Landlord thereof; or 

  

	 	(b)	Landlord having rightfully given the notice specified in (a) above to Tenant twice in any twelve (12) month period, Tenant shall fail thereafter to pay the
Annual Fixed Rent, Additional Rent or any other monetary amount due under this Lease, any of which occurs on a regularly recurring basis without change in the amount due, on or before the date on which the same becomes due and payable; or

  

	 	(c)	Tenant shall assign its interest in this Lease or sublet any portion of the Premises in violation of the requirements of Article XII of this Lease; or

  

	 	(d)	 Tenant shall fail to perform or observe some term or condition of this Lease which, because of its character, would immediately jeopardize
Landlord’s interest (such as, but without limitation, failure to maintain 

  
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general liability insurance, or the employment of labor and contractors within the Premises which interfere with Landlord’s work, in violation of Sections 9.3, 11.2 or 11.10 or Exhibit
B or a failure to observe the requirements of Section 11.2), and such failure continues for five (5) days after notice from Landlord to Tenant thereof; or 

 

	 	(e)	Tenant shall fail to perform or observe any other requirement, term, covenant or condition of this Lease (not hereinabove in this Section 15.1 specifically
referred to) on the part of Tenant to be performed or observed and such failure shall continue for thirty (30) days after notice thereof from Landlord to Tenant, or if said default shall reasonably require longer than thirty (30) days to
cure, if Tenant shall fail to commence to cure said default within thirty (30) days after notice thereof and/or fail to prosecute with continuing diligence the curing of the same to completion with due diligence; or 

 

	 	(f)	The estate hereby created shall be taken on execution or by other process of law; or 

 

	 	(g)	Tenant shall make an assignment or trust mortgage arrangement, so-called, for the benefit of its creditors; or 

 

	 	(h)	Tenant shall judicially be declared bankrupt or insolvent according to law; or 

 

	 	(i)	a receiver, guardian, conservator, trustee in involuntary bankruptcy or other similar officer is appointed to take charge of all or any substantial part of
Tenant’s property by a court of competent jurisdiction; or 

  

	 	(j)	any petition shall be filed against Tenant in any court, whether or not pursuant to any statute of the United States or of any State, in any bankruptcy, reorganization,
composition, extension, arrangement or insolvency proceeding, and such proceedings shall not be fully and finally dismissed within one hundred twenty (120) days after the institution of the same; or 

 

	 	(k)	Tenant shall file any petition in any court, whether or not pursuant to any statute of the United States or any State, in any bankruptcy, reorganization, composition,
extension, arrangement or insolvency proceeding; or 

  

	 	(l)	Tenant otherwise abandons or vacates the Premises without notice to Landlord in advance and the completion of arrangements reasonably satisfactory to Landlord for the
security of the Premises. However, no such notice (or lack of notice) shall relieve Tenant of its obligations under this Lease. 

  
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	15.2	Termination; Re-Entry 

Upon the happening of any one or more of the aforementioned Events of Default (notwithstanding any license of a former breach of covenant
or waiver of the benefit hereof or consent in a former instance), Landlord or Landlord’s agents or servants may give to Tenant a notice (hereinafter called “notice of termination”) terminating this Lease on a date specified in such
notice of termination (which shall be not less than five (5) days after the date of the mailing of such notice of termination), and this Lease and the Lease Term, as well as any and all of the right, title and interest of the Tenant hereunder,
shall wholly cease and expire on the date set forth in such notice of termination (Tenant hereby waiving any rights of redemption) in the same manner and with the same force and effect as if such date were the date originally specified herein for
the expiration of the Lease Term, and Tenant shall then quit and surrender the Premises to Landlord. 
 In addition or as an
alternative to the giving of such notice of termination, Landlord or Landlord’s agents or servants may, by any suitable action or proceeding in conformance with applicable law, immediately or at any time thereafter re-enter the Premises and
remove therefrom Tenant, its agents, employees, servants, licensees, and any subtenants and other persons, and all or any of its or their property therefrom, and repossess and enjoy the Premises, together with all additions, alterations and
improvements thereto; but, in any event under this Section 15.2, Tenant shall remain liable as hereinafter provided. 
 The
words “re-enter” and “re-entry” as used throughout this Article XV are not restricted to their technical legal meanings. 
  

	15.3	Continued Liability; Re-Letting 

 If this Lease is terminated or if Landlord shall re-enter the Premises as aforesaid, or in the event of the termination of this Lease, or of re- entry, by or under any proceeding or action or any
provision of law by reason of an Event of Default hereunder on the part of Tenant, Tenant covenants and agrees forthwith to pay and be liable for, on the days originally fixed herein for the payment thereof, amounts equal to the several installments
of Annual Fixed Rent, all Additional Rent and other charges reserved as they would, under the terms of this Lease, become due if this Lease had not been terminated or if Landlord had not entered or re-entered, as aforesaid (the total amount of the
foregoing is herein called the “Total Obligation Liability”), and whether the Premises be relet or remain vacant, in whole or in part, or for a period less than the remainder of the Lease Term, or for the whole thereof, but, in the event
the Premises be relet by Landlord, Tenant shall be entitled to a credit in the net amount of rent and other charges received by Landlord in reletting, after deduction of all reasonable expenses

  
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incurred in reletting the Premises (including, without limitation, remodeling costs, brokerage fees and the like), and in collecting the rent in connection therewith, in the following manner:

 Amounts received by Landlord after reletting shall first be applied against such Landlord’s expenses, until the same are
recovered, and until such recovery, Tenant shall pay, as of each day when a payment would fall due under this Lease, the amount which Tenant is obligated to pay under the terms of this Lease (Tenant’s liability prior to any such reletting and
such recovery not in any way to be diminished as a result of the fact that such reletting might be for a rent higher than the rent provided for in this Lease); when and if such expenses have been completely recovered, the amounts received from
reletting by Landlord as have not previously been applied shall be credited against Tenant’s obligations as of each day when a payment would fall due under this Lease, and only the net amount thereof shall be payable by Tenant. Further, Tenant
shall not be entitled to any credit of any kind for any period after the date when the term of this Lease is scheduled to expire according to its terms. 
 Landlord agrees to use reasonable efforts to relet the Premises after Tenant vacates the same in the event this Lease is terminated based upon an Event of Default by Tenant hereunder. The marketing of the
Premises in a manner similar to the manner in which Landlord markets other premises within Landlord’s control within the Building shall be deemed to have satisfied Landlord’s obligation to use “reasonable efforts” hereunder. In
no event shall Landlord be required to (i) solicit or entertain negotiations with any other prospective tenant for the Premises until Landlord obtains full and complete possession of the Premises (including, without limitation, the final and
unappealable legal right to relet the Premises free of any claim of Tenant), (ii) relet the Premises before leasing other vacant space in the Building, or (iii) lease the Premises for a rental less than the current fair market rent then
prevailing for similar office space in the Building. 
  

	15.4	Liquidated Damages 

Landlord may elect, as an alternative, to have Tenant pay liquidated damages, which election may be made by notice given to Tenant at any
time after the termination of this Lease under Section 15.2, above, and whether or not Landlord shall have collected any damages as hereinbefore provided in this Article XV, and in lieu of all other such damages beyond the date of such notice.
Upon such notice, Tenant shall promptly pay to Landlord, as liquidated damages, in addition to any damages collected or due from Tenant from any period prior to such notice and all expenses which Landlord may have incurred with respect to the
collection of such damages, such a sum as at the time of such notice represents the amount of the excess, if any, of (a) the discounted present value, at a discount rate of 6%, of the Annual Fixed Rent, Additional Rent and other charges which
would have been payable by Tenant under this Lease for the remainder of the Lease Term then in effect if the Lease terms had been fully complied with by Tenant, over and above (b) the discounted present value, at a discount rate of 6%, of the
Annual Fixed Rent, Additional Rent and other charges that would be received by Landlord if the Premises were re- leased at the time of such notice for the remainder of the Lease Term at the Prevailing Market Rent (including provisions regarding
periodic increases in Annual Fixed Rent if such are applicable) prevailing at the time of such notice as reasonably determined by Landlord; provided, however, that the total amount of the sum of such liquidated damages and the amounts previously
paid by Tenant to Landlord after the effective date of the termination of this Lease or re-entry by Landlord, as the case may be, shall not in any event exceed the amount of the Total Obligation Liability. 

  
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 For the purposes of this Article, if Landlord elects to require Tenant to pay liquidated
damages in accordance with this Section 15.4, the total rent shall be computed by assuming the Tax Excess under Section 6.2 and the Operating Cost Excess under Section 7.5 to be the same as were payable for the twelve
(12) calendar months (or if less than twelve (12) calendar months have been elapsed since the date hereof, the partial year) immediately preceding such termination or re-entry. 

Nothing contained in this Lease shall limit or prejudice the right of Landlord to prove for and obtain in proceedings for bankruptcy or
insolvency by reason of the termination of this Lease, an amount equal to the maximum allowed by any statute or rule of law in effect at the time when, and governing the proceeds in which, the damages are to be proved, whether or not the amount be
greater, equal to, or less than the amount of the loss or damages referred to above. 
 In lieu of any other damages or indemnity
and in lieu of the recovery by Landlord of all sums payable under all the foregoing provisions of this Section 15.4 and provided there remains not less than three (3) years remaining in the Lease Term at the time of termination pursuant to
this Article XV, Landlord may elect to collect from Tenant, by notice to Tenant, at any time after this Lease is terminated under any of the provisions contained in this ARTICLE XV or otherwise terminated by breach of any obligation of Tenant
and before such full recovery, and Tenant shall thereupon pay, as liquidated damages, an amount equal to the sum of the Annual Fixed Rent and all Additional Rent payable for the twelve (12) months ended next prior to the such termination plus
the amount of Annual Fixed Rent and Additional Rent of any kind accrued and unpaid at the time of such election plus any and all expenses which the Landlord may have incurred for and with respect to the collection of any of such rent. 

 

	15.5	Waiver of Redemption 

Tenant, for itself and any and all persons claiming through or under Tenant, including its creditors, upon the termination of this Lease
and of the term of this Lease in accordance with the terms hereof, or in the event of entry of judgment for the recovery of the possession of the Premises in any action or proceeding, or if Landlord shall enter the Premises by process of law or
otherwise, hereby waives any right of redemption provided or permitted by any statute, law or decision now or hereafter in force, and does hereby waive, surrender and give up all rights or privileges which it or they may or might have under and by
reason of any present or future law or decision, to redeem the Premises or for a continuation of this Lease for the term of this Lease hereby demised after having been dispossessed or ejected therefrom by process of law, or otherwise. 

 

	15.6	Landlord’s Default 

Landlord shall in no event be in default in the performance of any of Landlord’s obligations hereunder unless and until Landlord
shall have failed to perform such 

  
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obligations within thirty (30) days, or such additional time as is reasonably required to correct any such default, after notice by Tenant to Landlord properly specifying wherein Landlord
has failed to perform any such obligation. 
 The Tenant shall not assert any right to deduct the cost of repairs or any monetary
claim against the Landlord from rent thereafter due and payable, but shall look solely to the Landlord for satisfaction of such claim. 
 ARTICLE XVI 
 Miscellaneous Provisions 

 

	16.1	Waiver 

 Failure on the
part of Landlord or Tenant to complain of any action or non-action on the part of the other, no matter how long the same may continue, shall never be a waiver by Tenant or Landlord, respectively, of any of its rights hereunder. 

Further, no waiver at any time of any of the provisions hereof by Landlord or Tenant shall be construed as a waiver of any of the other
provisions hereof, and a waiver at any time of any of the provisions hereof shall not be construed as a waiver at any subsequent time of the same provisions. The consent or approval of Landlord or Tenant to or of any action by the other requiring
such consent or approval shall not be construed to waive or render unnecessary Landlord’s or Tenant’s consent or approval to or of any subsequent similar act by the other. 

No payment by Tenant, or acceptance by Landlord, of a lesser amount than shall be due from Tenant to Landlord shall be treated otherwise
than as a payment on account. The acceptance by Landlord of a check for a lesser amount with an endorsement or statement thereon, or upon any letter accompanying such check, that such lesser amount is payment in full, shall be given no effect, and
Landlord may accept such check without prejudice to any other rights or remedies which Landlord may have against Tenant. Further, the acceptance by Landlord of Annual Fixed Rent, Additional Rent or any other charges paid by Tenant under this Lease
shall not be or be deemed to be a waiver by Landlord of any default by Tenant, whether or not Landlord knows of such default, except for such defaults as to which such payment relates. 

 

	16.2	Cumulative Remedies 

Except as expressly provided in this Lease, the specific remedies to which Landlord and Tenant may resort under the terms of this Lease
are cumulative and are not intended to be exclusive of any other remedies or means of redress which they may be lawfully entitled to seek in case of any breach or threatened breach of any provisions of this Lease. In addition to the other remedies
provided in this Lease, Landlord shall be entitled to the restraint by injunction of the violation or attempted or threatened violation of any of the covenants, conditions or provisions of this Lease or to seek specific performance of any such
covenants, conditions or provisions, provided, however, that the foregoing shall not be construed as a confession of judgment by Tenant. 

  
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	16.3	Quiet Enjoyment 

 This
Lease is subject and subordinate to all matters of record as of the date of this Lease. Landlord agrees that, so long as there is no Event of Default outstanding and continuing, Tenant shall and may peaceably hold and enjoy the Premises during the
term of this Lease (exclusive of any period during which Tenant is holding over after the expiration or termination of this Lease without the consent of Landlord), without interruption or disturbance from Landlord or persons claiming through or
under Landlord, subject, however, to the terms of this Lease. This covenant shall be construed as running with the land to and against subsequent owners and successors in interest, and is not, nor shall it operate or be construed as, a personal
covenant of Landlord, except to the extent of the Landlord’s interest in the Premises, and this covenant and any and all other covenants of Landlord contained in this Lease shall be binding upon Landlord and upon such subsequent owners or
successors in interest of Landlord’s interest under this Lease, including ground or master lessees, to the extent of their respective interests, as and when they shall acquire same and then only for so long as they shall retain such interest.

  

	16.4	Surrender 

  

	 	(A)	No act or thing done by Landlord during the Lease Term shall be deemed an acceptance of a surrender of the Premises, and no agreement to accept such surrender shall be
valid, unless in writing signed by Landlord. No employee of Landlord or of Landlord’s agents shall have any power to accept the keys of the Premises as an acceptance of a surrender of the Premises prior to the termination of this Lease;
provided, however, that the foregoing shall not apply to the delivery of keys to Landlord or its agents in its (or their) capacity as managing agent or for purpose of emergency access. In any event, however, the delivery of keys to any employee of
Landlord or of Landlord’s agents shall not operate as a termination of the Lease or a surrender of the Premises. 

  

	 	(B)	Upon the expiration or earlier termination of the Lease Term, Tenant shall surrender the Premises to Landlord in the condition as required by Sections 8.1 and 9.5,
first removing all goods and effects of Tenant and completing such other removals as may be permitted or required pursuant to Section 9.5. 

  

	16.5	Brokerage 

 Tenant
warrants and represents that Tenant has not dealt with any broker in connection with the consummation of this Lease other than the broker, person or firm designated in Section 1.2 hereof; and in the event any claim is made against the Landlord
relative to dealings with brokers other than the broker designated in Section 1.2 hereof, Tenant shall defend the claim against Landlord with counsel of Landlord’s selection and save harmless and indemnify Landlord on account of loss, cost
or damage which may arise by 

  
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reason of such claim. Landlord warrants and represents that Landlord has not dealt with any broker in connection with the consummation of this Lease other than the broker designated in
Section 1.2; and in the event any claim is made against the Tenant relative to dealings by Landlord with brokers including the broker designated in Section 1.2, Landlord shall defend the claim against Tenant with counsel of Landlord’s
selection first approved by Tenant (which approval will not be unreasonably withheld) and save harmless and indemnify Tenant on account of loss, cost or damage which may arise by reason of such claim. Landlord agrees that it shall be solely
responsible for the payment of brokerage commissions to the broker, person or firm designated in Section 1.2 hereof. 
  

	16.6	Invalidity of Particular Provisions 

 If any term or provision of this Lease, or the application thereof to any person or circumstance shall, to any extent, be invalid or unenforceable, the remainder of this Lease, or the application of such
term or provision to persons or circumstances other than those as to which it is held invalid or unenforceable, shall not be affected thereby, and each term and provision of this Lease shall be valid and be enforced to the fullest extent permitted
by law. 
  

	16.7	Provisions Binding, etc 

The obligations of this Lease shall run with the land, and except as herein otherwise provided, the terms hereof shall be binding upon and
shall inure to the benefit of the successors and assigns, respectively, of Landlord and Tenant and, if Tenant shall be an individual, upon and to his heirs, executors, administrators, successors and assigns. Each term and each provision of this
Lease to be performed by Tenant shall be construed to be both a covenant and a condition. The reference contained to successors and assigns of Tenant is not intended to constitute a consent to assignment by Tenant, but has reference only to those
instances in which Landlord may have later given consent to a particular assignment as required by the provisions of Article XII hereof. 
  

	16.8	Recording; Confidentiality 

Each of Landlord and Tenant agree not to record the within Lease, but each party hereto agrees, on the request of the other, to execute a
so-called Notice of Lease or short form lease in form recordable and complying with applicable law and reasonably satisfactory to Landlord’s and Tenant’s attorneys. In no event shall such document set forth the rent or other charges
payable by Tenant under this Lease; and any such document shall expressly state that it is executed pursuant to the provisions contained in this Lease, and is not intended to vary the terms and conditions of this Lease. 

Tenant agrees that this Lease and the terms contained herein will be treated as confidential and except as required by law, including,
without limitation, any securities regulations (or except with the written consent of Landlord) and as necessary in any litigation or other dispute resolution proceeding between Landlord and Tenant, Tenant shall not disclose the same to any third
party except for Tenant’s partners, lenders, 

  
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members, directors, shareholders, accountants, attorneys, auditors, brokers and other consultants and any existing or prospective investors, purchasers, subtenants, and assignees who have been
advised of the confidentiality provisions contained herein and agree to be bound by the same. In the event Tenant is required by law (other than securities regulations) to provide this Lease or disclose any of its terms, Tenant shall endeavor to
give Landlord prompt notice of such requirement prior to making disclosure so that Landlord may seek an appropriate protective order. 
  

	16.9	Notices and Time for Action 

 Whenever, by the terms of this Lease, notice shall or may be given either to Landlord or to Tenant, such notices shall be in writing and shall be sent by hand, registered or certified mail, or overnight
or other commercial courier, postage or delivery charges, as the case may be, prepaid as follows: 
 If intended for Landlord,
addressed to Landlord at the address set forth in Article I of this Lease (or to such other address or addresses as may from time to time hereafter be designated by Landlord by like notice) with a copy to Landlord, Attention: Regional General
Counsel. 
 If intended for Tenant, addressed to Tenant at the address set forth in Article I of this Lease except that from and
after the Commencement Date the address of Tenant shall be the Premises (or to such other address or addresses as may from time to time hereafter be designated by Tenant by like notice), with a copy to: Goodwin Procter LLP, Exchange Place, Boston,
MA 02109, Attn: William J. Schnoor, Jr., Esq. 
 Except as otherwise provided herein, all such notices shall be effective when
received; provided, that (i) if receipt is refused, notice shall be effective upon the first occasion that such receipt is refused, (ii) if the notice is unable to be delivered due to a change of address of which no notice was given,
notice shall be effective upon the date such delivery was attempted, (iii) if the notice address is a post office box number, notice shall be effective the day after such notice is sent as provided hereinabove or (iv) if the notice is to a
foreign address, notice shall be effective two (2) days after such notice is sent as provided hereinabove. 
 Where
provision is made for the attention of an individual or department, the notice shall be effective only if the wrapper in which such notice is sent is addressed to the attention of such individual or department. 

Any notice given by an attorney on behalf of Landlord or by Landlord’s managing agent shall be considered as given by Landlord and
shall be fully effective. 
 Time is of the essence with respect to any and all notices and periods for giving of notice or
taking any action thereto under this Lease. 

  
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	16.10	When Lease Becomes Binding and Authority 

 Employees or agents of Landlord have no authority to make or agree to make a lease or any other agreement or undertaking in connection herewith. The submission of this document for examination and
negotiation does not constitute an offer to lease, or a reservation of, or option for, the Premises, and this document shall become effective and binding only upon the execution and delivery hereof by both Landlord and Tenant. All negotiations,
considerations, representations and understandings between Landlord and Tenant are incorporated herein or in that certain Termination Agreement dated of even date herewith between Tenant and an affiliate of Landlord, and may be modified or altered
only by written agreement between Landlord and Tenant, and no act or omission of any employee or agent of Landlord shall alter, change or modify any of the provisions hereof. Landlord and Tenant hereby represents and warrants to the other that all
necessary action has been taken to enter this Lease and that the person signing this Lease on behalf of Landlord and Tenant has been duly authorized to do so. 
  

	16.11	Paragraph Headings 

 The
paragraph headings throughout this instrument are for convenience and reference only, and the words contained therein shall in no way be held to explain, modify, amplify or aid in the interpretation, construction or meaning of the provisions of this
Lease. 
  

	16.12	Rights of Mortgagee 

 This
Lease shall be subject and subordinate to any mortgage now or hereafter on the Building (or any part thereof), and to all renewals, modifications, consolidations, replacements and extensions thereof and all substitutions therefor, provided that the
holder of such mortgage agrees in writing, in recordable form, to recognize the rights of Tenant under this Lease so long as there is no Event of Default and such Tenant attorns to the mortgagee and its successors. Landlord, Tenant and the holder of
the existing mortgage on the Building shall, at the time of execution and delivery of this Lease, execute and deliver a subordination, nondisturbance and attornment agreement in the form attached hereto as Exhibit L. In confirmation of such
subordination, recognition, and attornment with respect to any future mortgage, Landlord, Tenant and the holder of any future mortgage affecting the Building shall execute and deliver a subordination, recognition and attornment agreement in the
customary form required by such holder, with such commercially reasonable changes as Tenant may request (“SNDA”). In the event that any mortgagee or its respective successor in title shall succeed to the interest of Landlord, then this
Lease shall nevertheless continue in full force and effect and Tenant shall and does hereby agree to attorn to such mortgagee or successor and to recognize such mortgagee or successor as its landlord provided such mortgagee agrees to recognize all
of Tenant’s rights under this Lease, subject to such commercially reasonable limitations of the liability of such mortgage holder and its successors as such holder may require in such SNDA. If any holder of a mortgage which includes the
Premises, executed and recorded prior to the Date of this Lease, shall so elect, this Lease, and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the

  
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same force and effect as if this Lease had been executed, delivered and recorded, or a statutory Notice hereof recorded, prior to the execution, delivery and recording of any such mortgage. The
election of any such holder shall become effective upon either notice from such holder to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder’s
office of an instrument in which such holder subordinates its rights under such mortgage to this Lease. 
 If in connection with
obtaining financing a bank, insurance company, pension trust or other institutional lender shall request reasonable modifications in this Lease as a condition to such financing, Tenant will not unreasonably withhold, delay or condition its consent
thereto, provided that such modifications do not increase the monetary obligations of Tenant hereunder or adversely affect the leasehold interest hereby created or Tenant’s rights hereunder. 

 

	16.13	Rights of Ground Lessor 

If Landlord’s interest in property (whether land only or land and buildings) which includes the Premises is acquired by another party
and simultaneously leased back to Landlord herein, the holder of the ground lessor’s interest in such lease shall enter into a recognition agreement with Tenant simultaneously with the sale and leaseback, wherein the ground lessor will agree to
recognize the rights of Tenant under this Lease, including the right to use and occupy the Premises so long as there is no Event of Default, and wherein Tenant shall agree to attorn to such ground lessor as its Landlord and to perform and observe
all of the tenant obligations hereunder, in the event such ground lessor succeeds to the interest of Landlord hereunder under such ground lease. 
  

	16.14	Notice to Mortgagee and Ground Lessor  

 After receiving notice from any person, firm or other entity that it holds a mortgage which includes the Premises as part of the mortgaged premises, or that it is the ground lessor under a lease with
Landlord as ground lessee, which includes the Premises as a part of the leased premises, no notice of default from Tenant to Landlord shall be effective unless and until a copy of the same is given to such holder or ground lessor at the address as
specified in said notice (as it may from time to time be changed), and the curing of any of Landlord’s defaults by such holder or ground lessor within a reasonable time after such notice (including a reasonable time to obtain possession of the
premises if the mortgagee or ground lessor elects to do so) shall be treated as performance by Landlord, provided that, with respect to any default by Landlord which is the basis for Tenant to exercise a right to terminate this Lease (but not any
default which is the basis for Tenant to exercise abatement rights), the cure period for such mortgagee or ground lessor shall not exceed one hundred twenty (120) days longer than Landlord has to cure such default. For the purposes of this
Section 16.14, the term “mortgage” includes a mortgage on a leasehold interest of Landlord (but not one on Tenant’s leasehold interest). If any mortgage is listed on Exhibit I then the same shall constitute notice from the holder
of such mortgage for the purposes of this Section 16.14. 

  
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	16.15	Assignment of Rents 

 With
reference to any assignment by Landlord of Landlord’s interest in this Lease, or the rents payable hereunder, conditional in nature or otherwise, which assignment is made to the holder of a mortgage or ground lease on property which includes
the Premises, Tenant agrees: 
  

	 	(a)	That the execution thereof by Landlord, and the acceptance thereof by the holder of such mortgage, or the ground lessor, shall never be treated as an assumption by such
holder or ground lessor of any of the obligations of Landlord hereunder, unless such holder, or ground lessor, shall, by notice sent to Tenant, specifically otherwise elect or as otherwise provided in clause (b) below; and

  

	 	(b)	 That, except as aforesaid, such holder or ground lessor shall be treated as having assumed Landlord’s obligations hereunder only upon foreclosure
of such holder’s mortgage and the taking of possession of the Premises, or, in the case of a ground lessor, the assumption of Landlord’s position hereunder by such ground lessor. In no event shall the acquisition of title to the Building
and the land on which the same is located by a purchaser which, simultaneously therewith, leases the entire Building or such land back to the seller thereof be treated as an assumption, by operation of law or otherwise, of Landlord’s
obligations hereunder, but Tenant shall look solely to such seller-lessee, and its successors from time to time in title, for performance of Landlord’s obligations hereunder. In any such event, this Lease shall be subject and subordinate to the
lease to such purchaser provided that Landlord obtains a subordination, nondisturbance and attornment agreement in favor of Tenant from such holder or ground lessor in the customary form used by such holder or ground lessor, but subject to such
commercially reasonable modifications as Tenant may request, which agreement shall require such holder or ground lessor to recognize the right of Tenant to use and occupy the Premises so long as there is no Event of Default. For all purposes, such
seller-lessee, and its successors in title, shall be the landlord hereunder unless and until Landlord’s position shall have been assumed by such purchaser-lessor. Tenant acknowledges that it has been informed by Landlord that Landlord has
entered into certain agreements with its lenders (“Lenders”) which require it to include in this Lease (and requires Tenant to include in any sublease which may be permitted hereunder) the following provisions: (i) no rent payable
under this Lease or under any such sublease may be based in whole or in part on the income or profits derived from the Premises or any subleased premises except for percentage rent based on gross (not net) receipts or sales; (ii) if Lenders
succeed to the Landlord’s interests under this Lease and are advised by Lenders’ counsel that all or any portion of the rent payable under this Lease is or may be deemed to be unrelated

  
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business income within the meaning of the Internal Revenue Code of the 1986, as amended, or the regulations issued thereunder, Lenders may elect to amend unilaterally the calculation of rents
under this Lease so that none of the rents payable to Lenders under this Lease will constitute unrelated business income, provided that such amendment will not increase the Tenant’s payment obligations or other liability under this Lease or
reduce the Landlord’s obligations under this Lease; and (iii) if Lenders request, Tenant will be obligated to execute any document Lenders may deem reasonably necessary to effect the amendment of this Lease in accordance with the foregoing
subsection (ii). Further, no Annual Fixed Rent or Additional Rent may be paid by Tenant more than thirty (30) days in advance except with Lenders’ prior written consent and except for estimated payments of Additional Rent made in
accordance with the terms of this Lease, and any such payment without such consent shall not be binding on Lenders. 

  

	16.16	Status Report and Financial Statements 

 Recognizing that Landlord may find it necessary to establish to third parties, such as accountants, banks, potential or existing mortgagees, potential purchasers or the like, the then current status of
performance hereunder, Tenant, within ten (10) days after the request of Landlord made from time to time provided the number of such requests is not unreasonable, will furnish to Landlord, or any existing or potential holder of any mortgage
encumbering the Premises, the Building or Atlantic Wharf, or any potential purchaser of the Premises, the Building, or Atlantic Wharf (each an “Interested Party”) a statement of the status of any factual matter pertaining to this Lease,
including, without limitation, acknowledgments that (or the extent to which) each party is in compliance with its obligations under the terms of this Lease. In addition, Tenant shall deliver to Landlord, or any Interested Party designated by
Landlord, most current annual financial statements of Tenant, and any guarantor of Tenant’s obligations under this Lease, as reasonably requested by Landlord including, but not limited to, financial statements for up to the past three
(3) years, if available to Tenant (which shall be an audited statement if then available), provided that: (i) Tenant shall not be obligated to provide such financial statements more than once in any twelve (12) month period except in
the event Landlord’s request specifies in good faith that Landlord intends to enter into a transaction to refinance or sell the Building or Atlantic Wharf, and (ii) so long as Tenant is not a publicly traded entity, Landlord shall, as a
condition to receive such financial information, execute and deliver to Tenant a commercially reasonable confidentiality agreement (the parties hereby agreeing that the confidential agreement which Landlord executed for Tenant’s benefit in
connection with the execution of the Lease shall be considered to be a commercially reasonable confidentiality agreement). Any such status statement or financial statement delivered by Tenant pursuant to this Section 16.16 may be relied upon by
any Interested Party. 

  
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	16.17	Self-Help 

 If Tenant
shall at any time fail to make any payment or perform any act which Tenant is obligated to make or perform under this Lease and (except in the case of emergency) if the same continues unpaid or unperformed beyond applicable notice and grace periods,
then Landlord may, but shall not be obligated so to do, after ten (10) days’ notice to and demand upon Tenant, or without notice to or demand upon Tenant in the case of any emergency, and without waiving, or releasing Tenant from, any
obligations of Tenant in this Lease contained, make such payment or perform such act which Tenant is obligated to perform under this Lease in such manner and to such extent as may be reasonably necessary, and, in exercising any such rights, pay any
costs and expenses, employ counsel and incur and pay reasonable attorneys’ fees. All sums so paid by Landlord and all reasonable and necessary costs and expenses of Landlord incidental thereto, together with interest thereon at the annual rate
equal to the sum of (a) the Base Rate from time to time announced by Bank of America, N.A. or its successor as its Base Rate and (b) two percent (2%) (but in no event greater than the maximum rate permitted by applicable law) (herein
the “Lease Interest Rate”), from the date of the making of such expenditures by Landlord, shall be deemed to be Additional Rent and, except as otherwise in this Lease expressly provided, shall be payable to the Landlord on demand, and if
not promptly paid shall be added to any rent then due or thereafter becoming due under this Lease, and Tenant covenants to pay any such sum or sums with interest as aforesaid, and Landlord shall have (in addition to any other right or remedy of
Landlord) the same rights and remedies in the event of the non-payment thereof by Tenant as in the case of default by Tenant in the payment of Annual Fixed Rent. 
  

	16.18	Holding Over 

 Any holding
over by Tenant after the expiration of the term of this Lease shall be treated as a tenancy at sufferance and shall be on the terms and conditions as set forth in this Lease, as far as applicable except that Tenant shall pay as a use and occupancy
charge an amount equal to the greater of (x) 150% of the Annual Fixed Rent and Additional Rent calculated (on a daily basis) at the highest rate payable under the terms of this Lease or (y) the fair market rental value of the Premises, in
each case for the period measured from the day on which Tenant’s hold-over commences and terminating on the day on which Tenant vacates the Premises. In addition, if such holdover shall continue for more than thirty (30) days, Tenant shall
save Landlord, its agents and employees harmless and will exonerate, defend and indemnify Landlord, its agents and employees from and against any and all damages which Landlord may suffer on account of Tenant’s hold-over in the Premises after
the expiration or prior termination of the term of this Lease. Nothing in the foregoing nor any other term or provision of this Lease shall be deemed to permit Tenant to retain possession of the Premises or hold over in the Premises after the
expiration or earlier termination of the Lease Term. All property which remains in the Building or the Premises after the expiration or termination of this Lease shall be conclusively deemed to be abandoned and may either be retained by Landlord as
its property or sold or otherwise disposed of in such manner as Landlord may see fit. If any part thereof shall be sold, then Landlord may receive the proceeds of such sale and apply the same, at its option against

  
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the expenses of the sale, the cost of moving and storage, any arrears of rent or other charges payable hereunder by Tenant to Landlord and any damages to which Landlord may be entitled under this
Lease and at law and in equity. 
  

	16.19	Entry by Landlord 

Landlord, and its duly authorized representatives, shall, upon reasonable prior notice (except in the case of emergency), have the right
to enter the Premises at all reasonable times (except at any time in the case of emergency) in a manner that does not materially interrupt or interfere with the conduct of Tenant’s business being conducted therein, for the purposes of
inspecting the condition of same and making such repairs, alterations, additions or improvements thereto as may be necessary if Tenant fails to do so as required hereunder (but the Landlord shall have no duty whatsoever to make any such inspections,
repairs, alterations, additions or improvements except as otherwise provided in Sections 4.1, 7.1 and 7. 2 and Exhibit B), and to show the Premises to prospective tenants during the twelve (12) months preceding expiration of the term of this
Lease as it may have been extended and at any reasonable time during the Lease Term to show the Premises to prospective purchasers and mortgagees. 
  

	16.20	Tenant’s Payments 

Each and every payment and expenditure, other than Annual Fixed Rent, shall be deemed to be Additional Rent hereunder, whether or not the
provisions requiring payment of such amounts specifically so state, and shall be payable, unless otherwise provided in this Lease, within thirty (30) days after written demand by Landlord, and in the case of the non-payment of any such amount,
Landlord shall have, in addition to all of its other rights and remedies, all the rights and remedies available to Landlord hereunder or by law in the case of non-payment of Annual Fixed Rent. Unless expressly otherwise provided in this Lease, the
performance and observance by Tenant of all the terms, covenants and conditions of this Lease to be performed and observed by Tenant shall be at Tenant’s sole cost and expense. If Tenant has not objected to any statement of Additional Rent
which is rendered by Landlord to Tenant within one hundred twenty (120) days after Landlord has rendered the same to Tenant, then the same shall be deemed to be a final account between Landlord and Tenant not subject to any further dispute. In
the event that Tenant shall seek Landlord’s consent or approval under this Lease, then Tenant shall reimburse Landlord, upon demand, as Additional Rent, for all reasonable costs and expenses, including legal and architectural costs and
expenses, incurred by Landlord in processing such request, whether or not such consent or approval shall be given. 
  

	16.21	Late Payment 

 If Landlord
shall not have received any payment or installment of Annual Fixed Rent or Additional Rent (the “Outstanding Amount”) on or before the date on which the same first becomes payable under this Lease (the “Due Date”), and such
amount remains unpaid five (5) days after the Due Date, such payment or installment shall incur a late charge equal to the sum of (a) three percent (3%) of the Outstanding Amount for

  
 Page 85

 
administration and bookkeeping costs associated with the late payment (herein called the “Administrative Fee”), and (b) interest on the Outstanding Amount from the Due Date through
and including the date such payment or installment is received by Landlord, at the Lease Interest Rate. Such interest shall be deemed Additional Rent and shall be paid by Tenant to Landlord upon demand. Notwithstanding the foregoing, so long as
there is no Event of Default outstanding, Landlord agrees to waive one (1) Administrative Fee respecting late payment of monthly Base Rent once during each calendar year during the Lease Term. 

 

	16.22	Counterparts 

 This Lease
may be executed in several counterparts, each of which shall be deemed an original, and such counterparts shall constitute but one and the same instrument. 
  

	16.23	Entire Agreement 

 This
Lease constitutes the entire agreement between the parties hereto, Landlord’s managing agent and their respective affiliates with respect to the subject matter hereof and thereof and supersedes all prior dealings between them with respect to
such subject matter, and there are no verbal or collateral understandings, agreements, representations or warranties not expressly set forth in this Lease. No subsequent alteration, amendment, change or addition to this Lease shall be binding upon
Landlord or Tenant, unless reduced to writing and signed by the party or parties to be charged therewith. 
  

	16.24	Liability of Landlord and Tenant 

 Tenant shall neither assert nor seek to enforce any claim for breach of this Lease against any of Landlord’s assets other than Landlord’s interest in the Building or the proceeds thereof, and
Tenant agrees to look solely to such interest for the satisfaction of any liability of Landlord under this Lease, it being specifically agreed that neither Landlord, nor any successor holder of Landlord’s interest hereunder, nor any beneficiary
of any Trust of which any person from time to time holding Landlord’s interest is Trustee, nor any such Trustee, nor any member, manager, partner, director or stockholder nor Landlord’s managing agent shall ever be personally liable for
any such liability. This paragraph shall not limit any right that Tenant might otherwise have to obtain injunctive relief against Landlord or Landlord’s successors-in-interest, or to take any other action which shall not involve the personal
liability of Landlord, or of any successor holder of Landlord’s interest hereunder, or of any beneficiary of any trust of which any person from time to time holding Landlord’s interest is Trustee, or of any such Trustee, or of any manager,
member, partner, director or stockholder of Landlord or of Landlord’s managing agent, to respond in monetary damages from Landlord’s assets other than Landlord’s interest in said Building, as aforesaid, but in no event shall Tenant
have the right to terminate or cancel this Lease or to withhold rent or to set-off any claim or damages against rent as a result of any default by Landlord or breach by Landlord of its covenants or any warranties or promises hereunder, except:
(i) as expressly provided in this Lease, and (ii) in the case of a wrongful eviction of Tenant from the demised 

  
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premises (constructive or actual) by Landlord continuing after notice to Landlord thereof and a reasonable opportunity for Landlord to cure the same. Landlord shall neither assert nor seek to
enforce any claim for breach of this Lease against any officer, director, stockholder or employee of Tenant. In no event shall either Landlord or Tenant ever be liable to the other for any indirect or consequential damages or loss of profits or the
like. 
  

	16.25	No Partnership 

 The
relationship of the parties hereto is that of landlord and tenant and no partnership, joint venture or participation is hereby created. 
  

	16.26	Security Deposit 

 (A)
Tenant agrees, at the time of execution and delivery of the Lease, to pay the security deposit specified in Section 1.2 (herein sometimes called the “Security Deposit”), as follow. Tenant shall deliver the Security Deposit to
Landlord in the form of an irrevocable, unconditional, negotiable letter of credit (“Letter of Credit”) conforming to the requirements of this Section 16.26 in the amount of Two Million Four Hundred Three Thousand Eight Hundred
Eighty-Two ($2,403,882.00) Dollars. The Letter of Credit shall secure both Tenant’s obligations under this Lease, as well as Tenant’s obligations under the Existing Lease. Landlord shall, simultaneously at the time that Tenant delivers the
Letter of Credit to Landlord, cause the Existing Landlord to return to Tenant the letter of credit (“Existing Letter of Credit”) which Landlord is then holding under the Existing Lease. The parties hereby agree that as of the date
under the Existing Lease that Landlord would have been required, but for the provisions of this Section 16.26(A), to return the Existing Letter of Credit to Tenant pursuant to Section 16.26(C) of the Existing Lease: (i) the Letter of
Credit shall no longer secure Tenant’s obligations under the Existing Lease, and (ii) the Letter of Credit shall be amended, by instrument reasonably acceptable to Landlord, so as to eliminate the Existing Landlord as a beneficiary of the
Letter of Credit and any references to the Existing Lease. 
 Landlord shall hold the same, throughout the term of this Lease
(including any extension thereof), as security for the performance by Tenant of all obligations on the part of Tenant to be performed. Landlord shall have the right from time to time without prejudice to any other remedy Landlord may have on account
thereof, to apply such deposit, or any part thereof, to Landlord’s damages arising from any Event of Default on the part of Tenant. If Landlord so applies all or any portion of such deposit, Tenant shall within ten (10) days after notice
from Landlord deliver cash or a replacement letter of credit or amendment to the letter of credit to Landlord in an amount sufficient to restore such deposit to the full amount stated in Section 1.2. Tenant not then being in default and having
performed all of its obligations under this Lease, including the payment of all Annual Fixed Rent, Landlord shall return the deposit, or so much thereof as shall not have theretofore been applied in accordance with the terms of this
Section 16.26, to Tenant on the expiration or earlier termination of the Lease Term and surrender of possession of the Premises by Tenant to Landlord in the condition required in the Lease at such time. While Landlord holds such deposit,
Landlord shall have no obligation to 

  
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pay interest on the same and shall have the right to commingle the same with Landlord’s other funds. If Landlord conveys Landlord’s interest under this Lease, the deposit, or any part
thereof not previously applied, shall be turned over by Landlord to Landlord’s grantee for proper application of the deposit in accordance with the terms of this Section 16.26, and the return thereof in accordance herewith, and upon doing
so Landlord shall have no further liability therefor. 
 Neither the holder of a mortgage nor the landlord in a ground lease on
property which includes the Premises shall ever be responsible to Tenant for the return or application of any such deposit, whether or not it succeeds to the position of Landlord hereunder, unless such deposit shall have been received in hand by
such holder or ground lessor. 
 Any letter(s) of credit delivered by Tenant to Landlord under this Section 16.26 shall
comply with the provisions of this Section 16.26, and are referred to herein (collectively, if applicable) as the “Letter of Credit”. Subject to the provisions of this Section 16.26, Landlord shall hold the Letter of Credit
throughout the Lease Term (including all Extended Terms, if exercised) (unless sooner returned to Tenant as provided in this Section 16.26) as security for the performance by Tenant of all obligations on the part of Tenant to be performed under
this Lease and under the Existing Lease. The Letter of Credit shall (i) be issued by and drawn on a bank reasonably approved by Landlord (Landlord agreeing that, as of the Execution Date, Silicon Valley Bank is an acceptable bank for issuing a
letter of credit) and at a minimum having a long term issuer credit rating from Standard and Poor’s Professional Rating Service of A or a comparable rating from Moody’s Professional Rating Service, (ii) be substantially in the form
attached hereto as Exhibit J, (iii) permit one or more draws thereunder to be made accompanied only by certification by Landlord or Landlord’s managing agent that pursuant to the terms of this Lease, Landlord is entitled to draw
upon such Letter of Credit, (iv) permit transfers at any time without charge, and (v) provide that any notices to Landlord be sent to the notice address provided for Landlord in this Lease. If the credit rating for the issuer of such
Letter of Credit falls below the standard set forth in (i) above or if the financial condition of such issuer changes in any other material adverse way or if any trustee, receiver or liquidator shall be appointed for the issuer, Landlord shall
have the right to require that Tenant provide a substitute letter of credit that complies in all respects with the requirements of this Section, and Tenant’s failure to provide the same within thirty (30) days following Landlord’s
written demand therefor shall entitle Landlord to immediately draw upon the Letter of Credit. If Tenant is delivering a substitute letter of credit, Landlord agrees to cooperate with Tenant to provide for a simultaneous exchange of the substitute
letter of credit and the existing letter of credit. Any such Letter of Credit shall be for a term of two (2) years (or for one (1) year if the issuer thereof regularly and customarily only issues letters of credit for a maximum term of one
(1) year) and shall in either case provide for automatic renewals through the date which is ninety (90) days subsequent to the scheduled expiration of this Lease (as the same may be extended). Any failure or refusal of the issuer to honor
the Letter of Credit shall be at Tenant’s sole risk and shall not relieve Tenant of its obligations hereunder with regard to the security deposit. Upon the occurrence of any Event of Default, Landlord shall have the right from time to time
without prejudice to any other remedy Landlord may have on account 

  
 Page 88

 
thereof, to draw on all or any portion of such deposit held as a Letter of Credit and to apply the proceeds of such Letter of Credit or any cash held as such deposit, or any part thereof, to
Landlord’s damages arising from such Event of Default on the part of Tenant under the terms of this Lease. If Landlord so applies all or any portion of such deposit, Tenant shall within ten (10) days after notice from Landlord deposit cash
(or a replacement letter of credit or amendment to the letter of credit) with Landlord in an amount sufficient to restore such deposit to the full amount stated in this Section 16.26. While Landlord holds any cash deposit Landlord shall have no
obligation to pay interest on the same and shall have the right to commingle the same with Landlord’s other funds. 
 (B)
Reduction in Security Deposit/Letter of Credit Amount. 
 (1) If Tenant satisfies the First Reduction Conditions, as
hereinafter defined, then, upon written request of Tenant, the amount of the Letter of Credit shall be reduced by Eight Hundred One Thousand Two Hundred Ninety-Four ($801,294.00) Dollars (“First Reduction Amount”). If, after having
satisfied the First Reduction Conditions, as hereinafter defined, Tenant subsequently satisfies the Second Reduction Conditions, then, upon written request of Tenant, the amount of the Letter of Credit shall be reduced by an additional Eight Hundred
One Thousand Two Hundred Ninety-Four ($801,294.00) Dollars (“Second Reduction Amount”). In no event, however, shall the amount of the Letter of Credit be less than Eight Hundred One Thousand Two Hundred Ninety-Four ($801,294.00)
Dollars. 
 (2) Tenant shall be deemed to have satisfied the “First Reduction Conditions” as of any date during
the Term of the Lease (subject to the last sentence of this subsection (2)) if all of the following shall be true as of such date: (i) no monetary or material non-monetary Event of Default by Tenant has occurred during the one year period
prior to such date, (ii) during a period (“First Reduction Period”) consisting of one Fiscal Year immediately preceding such date, Tenant achieves Adjusted Gross Revenues, as hereinafter defined, of at least $100,000,000.00 and
Earnings, as hereinafter defined, of at least $6,500,000.00, as evidenced by an Audited Financial Statement, as hereinafter defined, delivered by Tenant to Landlord, (iii) the Lease is then in full force and effect, (iv) there is no
material uncured non-monetary Event of Default by Tenant on such date, and (v) Tenant is in full compliance with its monetary obligations under the Lease as of such date. If Landlord refuses to recognize that Tenant has achieved the First
Reduction Conditions based upon Tenant’s failure to be in full compliance with its monetary obligations under the Lease, then Landlord shall promptly so advise Tenant in writing, and if Tenant shall thereafter cure such non-compliance, then
Landlord shall reduce the Letter of Credit by the First Reduction Amount if, on the date that Tenant cures such non-compliance, all of the First Reduction Conditions are the satisfied. In no event shall the First Reduction Conditions be deemed to be
satisfied prior January 1, 2014. 
 (3) Tenant shall be deemed to have satisfied the “Second Reduction
Conditions” as of any date during the Term of the Lease (subject to the last sentence of this subsection (3)) if all of the following shall be true as of such date: (i) the First Reduction Conditions have been previously
satisfied, (ii) no monetary or material non-monetary Event of 

  
 Page 89

 
Default by Tenant has occurred during the one year period prior to such date, (iii) during a period (“Second Reduction Period”) consisting of one Fiscal Year immediately
preceding such date, Tenant achieves Adjusted Gross Revenues, as hereinafter defined, of at least $100,000,000.00 and Earnings, as hereinafter defined, of at least $13,000,000.00, as evidenced by an Audited Financial Statement, as hereinafter
defined, delivered by Tenant to Landlord, (iv) the Lease is then in full force and effect, (v) there is no material uncured non-monetary Event of Default by Tenant on such date, and (vi) Tenant is in full compliance with its monetary
obligations under the Lease as of such date. If Landlord refuses to recognize that Tenant has achieved the Second Reduction Conditions based upon Tenant’s failure to be in full compliance with its monetary obligations under the Lease, then
Landlord shall promptly so advise Tenant in writing, and if Tenant shall thereafter cure such non-compliance, then Landlord shall reduce the Letter of Credit by the Second Reduction Amount if, on the date that Tenant cures such non-compliance, all
of the Second Reduction Conditions are the satisfied. In no event shall any portion of the First Reduction Period be part of the Second Reduction Period, and in no event shall the Second Reduction Conditions be deemed to be satisfied prior to
January 1, 2016. 
 (4) “Fiscal Year” shall be defined as Tenant’s fiscal year for accounting
purposes. “Earnings” shall be defined as Tenant’s earnings before taxes, depreciation and amortization less capital expenditures, as set forth in Tenant’s Audited Financial Statement. “Audited Financial
Statement” shall be defined as Tenant’s audited financial statements for the Fiscal Years in question prepared by Tenant’s auditor, who shall be a major national independent certified accounting firm, Tenant’s present
auditor-Ernst & Young, or another independent certified public accountant. “Adjusted Gross Revenues” shall be defined as gross revenues in accordance with GAAP, as disclosed in Tenant’s Audited Financial Statement,
however, deferred revenues and backlog assumed in acquisitions at fair value which would otherwise be excluded from gross revenues in accordance with GAAP, shall be included in Adjusted Gross Revenues.

(5) If the Security Deposit is held by Landlord in the form of cash, then, after Tenant has satisfied the First Reduction Condition or the
Second Reduction Condition, as the case may be, Landlord shall return the First Reduction Amount or the Second Reduction Amount, as the case may be, to Tenant within ten (10) business days after Landlord’s receipt of written request from
Tenant. If the Security Deposit is held by Landlord in the form of a Letter of Credit, then, after Tenant has satisfied the First Reduction Condition or the Second Reduction Condition, as the case may be, Landlord shall, at Tenant’s election
and within ten (10) business days after Landlord’s receipt of written request from Tenant, effect the return of the First Reduction Amount or the Second Reduction Amount by either accepting an amendment to the Letter of Credit which
Landlord is then holding (which amendment shall be in form and substance reasonably acceptable to Landlord) or by exchanging the Letter of Credit which Landlord is then holding for a substitute Letter of Credit complying with the requirements of
this Section 16.26 in the appropriate amount. If Tenant is delivering a substitute Letter of Credit, as aforesaid, Landlord agrees to cooperate with Tenant to provide for a simultaneous exchange of the substitute Letter of Credit and the
existing Letter of Credit. 

  
 Page 90

 (C) Return of Security Deposit/Letter of Credit. Subject, however, to the provisions
of Section 9.5(b)(ii) of this Lease, to the extent that Landlord has not previously drawn upon the Letter of Credit, and Tenant is not then in default and has performed all of its obligations under this Lease, including, but not limited to, the
payment of all Annual Fixed Rent, Landlord shall return the deposit, or so much thereof as shall not have theretofore been applied in accordance with the terms of this Section 16.26, to Tenant (i)(a) on the expiration of the term of this Lease
(as the same may have been extended), or (b) on the earlier termination of this Lease by mutual agreement of Landlord and Tenant so long as Tenant is not then in default under the terms of this Lease without the benefit of notice or grace, and
(ii) in the case of either item (i)(a) or (i)(b) on the surrender of possession of the Premises by Tenant to Landlord in the condition required in the Lease at such time. 

 

	16.27	Governing Law 

 This Lease
shall be governed exclusively by the provisions hereof and by the law of The Commonwealth of Massachusetts, as the same may from time to time exist. 
  

	16.28	Waiver of Trial by Jury  

To induce both parties to enter into this Lease, Landlord and Tenant hereby waive any right to trial by jury in any action, proceeding or
counterclaim brought by either Landlord or Tenant on any matters whatsoever arising out of or any way connected with this Lease, the relationship of the Landlord and the Tenant, the Tenant’s use or occupancy of the premises and/or any claim of
injury or damage, including but not limited to, any summary process eviction action. 
 (page ends here) 

  
 Page 91

 EXECUTED as a sealed instrument in two or more counterparts by persons or officers hereunto
duly authorized on the Date set forth in Section 1.2 above. 
  

											
	WITNESS:	 		 	LANDLORD:
			
	   /s/ Illegible
	 		 	BP RUSSIA WHARF LLC
		 		 	a Delaware limited liability company
				
		 		 	By:	 	Boston Properties Limited Partnership,
		 		 		 	a Delaware limited partnership,
		 		 		 	its sole member
					
		 		 		 	By:	 	Boston Properties, Inc.,
		 		 		 		 	a Delaware corporation,
		 		 		 		 	its general partner
						
		 		 		 		 	By:	 	   /s/ Bryan J. Koop

		 		 		 		 	Name:	 	   Bryan J. Koop

		 		 		 		 	Title:	 	  Senior Vice President –
		 		 		 		 		 	   Regional Manager

				
		 		 	TENANT:	 	
			
	WITNESS:	 		 	BRIGHTCOVE INC.
				
	   /s/ Illegible
	 		 	By:	 	   /s/ Christopher A. Menard

		 		 	Name:	 	   Christopher A. Menard

		 		 	Title:	 	   CFO

		 		 		 	                        Hereunto duly
authorized

  
 Page 92

 EXHIBIT A 
 ATLANTIC WHARF 
 LEGAL DESCRIPTION OF LOT 

PARCEL 1 
 A certain parcel of
land known as Russia Wharf and located at 520-540 Atlantic Avenue and 258-264, 270-272, and 282-300 Congress Street, City of Boston, Suffolk County, Commonwealth of Massachusetts, situated on the Southeasterly side of Atlantic Avenue and shown on a
“Plan of Land in Boston, Mass.”, dated October 31, 1978 by Boston Survey Consultants, recorded with Suffolk Registry of Deeds, Book 9122, End, and also shown on “Plan of Land in Boston, Mass., Boston Proper, Suffolk County, Scale
1:240, March 2, 1981, by Boston Survey Consultants, prepared for Russia Wharf Company.” 
 Said parcel is more
particularly described to follows: 
 Beginning at a point in the most easterly corner of said Atlantic Avenue and Congress
Street; 
 Thence running along the Southeasterly sideline of said Atlantic Avenue, North 56° 13’ 12” East, 185.16
feet to a point at land now or formerly of Boston Edison Co. 
 Thence turning and running by a line through the middle of
28” wall, South 36° 57’ 46” East, 160.33 feet to a point; 
 Thence turning and running by a line through a
party wall, South 53° 02’ 14” West, 1.00 foot to a point; 
 Thence turning and running by a line through a party
wall, South 37° 01’ 54” East, 56.23 feet to a point; 
 Thence turning and running by a line through a party wall,
South 37° 05’ 24” East, 146.60 feet to a point; 
 Thence turning and running North 42° 12’ 16”
East, 1.02 feet to a point; 
 Thence turning and running South 37° 05’ 24” East, 118.19 feet to a point on the
former Massachusetts Harbor Line established by Chapter 170 of the Acts of 1880, said last six (6) courses by land now or formerly of Boston Edison Co. 
 Thence turning and running South 26° 08’ 12” West 195.02 feet along said former Harbor Line to a point on the Northeasterly sideline of said Congress Street; 

Thence turning and running along the Northeasterly sideline of said Congress Street, North 38° 06’ 39” West, 579.79 feet to
the point of beginning. 

  
 Page 1

 Exhibit A 

 PARCEL 2 
 Air rights affecting three parcels as described in deed from Boston Redevelopment Authority to MA-Russia Wharf, L.L.C. dated October 6, 2006 and recorded with the Suffolk County Registry of Deeds in
Book 40591, Page 50, shown as Area AB, Area C and Area D on a plan entitled, “Boston Redevelopment Authority Taking Plan Congress Street and Atlantic Avenue Boston Proper,” dated November 10, 2005 and recorded with the Suffolk County
Registry of Deeds at Book 2005, Page 1007 with the Order of Taking dated December 1, 2005 recorded in Book 38642, Page 47. 

BEING AND INTENDING TO BE the same premises conveyed pursuant to a certain Quitclaim Deed of MA-Russia Wharf, L.L.C. to BP Russia Wharf
LLC dated March 30, 2007 and recorded with the Suffolk County Registry of Deeds at Book 41541, Page 168. 

  
 Page 2

 Exhibit A 

 EXHIBIT B 
 LANDLORD’S WORK 
 (“Work Agreement”) 

 

	I.	Definitions 

  

	 	(1)	The “Actual Substantial Completion Date” with respect to Landlord’s Work shall be defined as the date on which (i) the Landlord’s Work
has been Substantially Completed, and (iii) the issuance of a temporary or permanent Certificate of Occupancy by the appropriate City of Boston authority permitting the use of the Premises by Tenant. If Landlord obtains a temporary Certificate
of Occupancy, Landlord shall use diligent efforts to satisfy any conditions to such temporary Certificate of Occupancy and to obtain a permanent Certificate of Occupancy with an reasonable period of time. Landlord shall give Tenant at least
forty-eight (48) hours prior written notice of the Actual Substantial Completion Date. 

  

	 	(2)	“Substantial Completion” and “Substantially Completed” of the Landlord’s Work shall each mean the date upon which:

  

	 	(a)	The Landlord’s Work has been completed (or would have been completed except for Tenant Delays) except for items of work and adjustment of equipment and fixtures
which can be completed after occupancy has been taken without causing unreasonable interference with Tenant’s use of the Premises (i.e., so-called “punch list” items), and 

 

	 	(b)	Permission has been obtained from the applicable governmental authority, to the extent required by law, for occupancy by Tenant of the Premises for the Permitted Use,
unless the failure to obtain such permission is due to a Tenant Delay. 

 In the event of any dispute as to the
date on which Landlord’s Work has been substantially completed, the reasonable determination of Landlord’s Architect as to such date shall be deemed conclusive and binding on both Landlord and Tenant unless within five (5) days of
receiving notice, Tenant gives written notice to Landlord setting with specificity, Tenant’s reasonable objections to such certificate. 
 After Substantial Completion of Landlord’s Work, Landlord shall proceed diligently to complete all Punch List Items relating to the Landlord’s Work at Landlord’s expense, within sixty
(60) days after the occurrence of Substantial Completion of Landlord’s Work (except for items which can only be performed during certain seasons or weather, which items shall be completed diligently as soon as the season and/or weather
permits, and 

  
 Page 1

 Exhibit B 

	 	
except for items which have a lead time of longer than sixty (60) days, which items shall be completed as soon as reasonably possible after the occurrence of Substantial Completion of
Landlord’s Work). 

  

	 	(3)	The “Substantial Completion Date” with respect to Landlord’s Work shall be defined as the Actual Substantial Completion Date with respect to
Landlord’s Work, provided however, that if Landlord is delayed in the performance of Landlord’s Work by reason of any Tenant Delay, as hereinafter defined, then the Substantial Completion Date with respect to Landlord’s Work shall be
deemed to be the date that Landlord would have achieved the Actual Substantial Completion Date of Landlord’s Work, but for such Tenant Delay. Tenant agrees that no Tenant Delay shall delay the occurrence of the Commencement Date, regardless of
the reason for such delay or whether or not it is within the control of Tenant or any such employee. Nothing contained in this paragraph shall limit or qualify or prejudice any other covenants, agreements, terms, provisions and conditions contained
in this Lease. The above notwithstanding the parties shall schedule a joint inspection of the Premises at a mutually convenient time to confirm that the Landlord’s Work has been Substantially Completed and to identify any minor details,
adjustments or other items of the Landlord’s Work which in accordance with good construction practice should be performed after Substantial Completion thereof (collectively, the “Punchlist Items”), if any, in writing; provided,
however, such joint inspection shall take place at a mutually acceptable time on or before the Substantial Completion Date, the parties expressly agreeing that the occurrence of such joint inspection on or before the Substantial Completion Date
shall not be a condition to the occurrence of the Substantial Completion Date. If Landlord and Tenant disagree as to whether the Landlord’s Work is Substantially Complete or as to the existence or nature of any Punchlist Items, and such dispute
has not been resolved within ten (10) days of the earlier of: (i) the joint inspection, or (ii) the date Landlord gives Tenant written notice that the Substantial Completion Date has occurred, either party shall have the right to
submit such dispute to expedited arbitration pursuant to the then current rules and procedures of the American Arbitration Association. Such arbitration shall be final and binding upon Landlord and Tenant; provided, however, the during the pendency
of any such dispute and/or arbitration proceeding, the Substantial Completion Date shall be as determined by Landlord, subject to adjustment upon the resolution of the dispute by the parties or by arbitration. The costs of any such arbitration shall
be paid by the losing party. 

  

	 	(4)	A “Tenant Delay” shall be defined as any of the following acts or, where there is a duty of Tenant to act under this Lease, omissions which actually
delays the Landlord’s Work: 

  
 Page 2

 Exhibit B 

	 	(a)	Tenant’s failure to deliver the requisite plans to Landlord by the Preliminary Plans Date, the Interim Plans Date, the Final Plans Date, as the case may be, to
give Landlord authorization to purchase an long lead time items on or before the Long Lead Items Release Date, or to give authorization to Landlord to proceed with Landlord’s Work on or before the Authorization to Proceed Date; or

  

	 	(b)	Tenant or Tenant’s architect’s (which architect may be Tenant) failure timely to respond to any written request from Landlord, Landlord’s Architect,
Landlord’s contractor and/or Landlord’s Construction Representative including, without limitation, within the time periods set forth in Section III of this Exhibit B; 

 

	 	(c)	Tenant’s failure to pay the Tenant Plan Excess Costs in accordance with Section III of this Exhibit B; 

 

	 	(d)	Any delay due to Long Lead Items, as defined in Section III.A(5) of this Exhibit B; 

 

	 	(e)	Any delay due to changes, alterations or additions required or made by Tenant after Landlord approves Tenant’s Plans including, without limitation, Change Orders;
or 

  

	 	(f)	Any other delays based upon acts or, where there is a duty of Tenant to act under this Lease, omissions which actually delays the Landlord’s Work and which are
caused by Tenant, Tenant’s contractors, architects, engineers or anyone else engaged by Tenant in connection with the preparation of the Premises for Tenant’s occupancy, including, without limitation, utility companies and other entities
furnishing communications, data processing or other service, equipment, or furniture. 

 Tenant shall not be
charged with any period of Tenant Delay prior to the time that Tenant receives written notice of such Tenant Delay; provided, however, that the provisions of this sentence shall not apply to (and Tenant shall not be entitled to any notice with
respect to) any Tenant Delay which is based upon Tenant’s failure to act within a time certain which is expressly set forth in the Lease. 
  

	 	(5)	The term “Hard Costs” shall be defined as the cost of leasehold improvements made in the Premises, including, without limitation, ceiling system, HVAC,
electricity, life safety, paint, carpet, demolition, installation of new partitions and glass, and Landlord’s Construction Management Fee. Hard costs shall include any direct Building costs associated with the performance of Landlord’s
Work (including, without 

  
 Page 3

 Exhibit B 

	 	
limitation, shut down fees, etc.); however, Hard Costs shall not include the use of freight elevators and loading docks during normal building hours on a non-dedicated basis.

  

	 	(6)	The term “Soft Costs” shall be defined as architectural and engineering design services, working drawings, installation of wiring and cabling in the
Premises, and the cost of expediters engaged by Landlord in connection with obtaining permits necessary for performing Landlord’s Work. 

  

	 	(7)	The term “Other Costs” shall be defined as other costs incurred by Tenant in connection with the preparation of the Premises for Tenant’s
occupancy, including the cost of furniture and audio visual equipment. 

  

	 	(8)	The term “Soft/Other Costs Cap” shall be defined as One Million Six Hundred Forty-Three Thousand Six Hundred Eight ($1,643,680.00) Dollars.

  

	 	(9)	The term “Permitted Costs” shall be defined as the sum of all Hard Costs, Soft Costs, and Other Costs incurred by the parties in connection with
Landlord’s Work, subject, however, to the limitations set forth in this Exhibit B. 

  

	 	(10)	The term “Tenant Requisition” relates to Soft Costs and Other Costs only and shall mean written documentation showing in reasonable detail the Soft
Costs or Other Costs, as the case may be, for which Tenant is seeking reimbursement. Each Tenant Requisition shall be accompanied by evidence reasonably satisfactory to Landlord that all work covered by previous Tenant Requisitions has been fully
paid by Tenant. Landlord shall have the right, upon reasonable advance notice to Tenant, to inspect Tenant’s books and records relating to each Tenant Requisition in order to verify the amount thereof. Tenant may submit a Tenant Requisition to
Landlord no more often than one (1) time per calendar month. 

  

	 	(11)	The term “Budget” shall mean a budget prepared by Tenant which constitutes Tenant’s good faith estimate of the total amount of Permitted Costs to
be incurred in connection with Landlord’s Work, provided, however, that the amount included in the Budget with respect to Hard Costs shall be based upon the bidding process for Landlord’s Work, as hereinafter set forth. Tenant shall submit
an updated Budget to Landlord, from time to time (at the time that Tenant gives Landlord a written authorization to proceed with Landlord’s Work) based upon the then current information available to Tenant about the amount of Permitted Costs.

  

	 	(12)	The term “Landlord’s Share” shall mean the ratio, from time to time, of the Maximum Amount of Tenant Allowance to the then total amount of the
Budget. 

  
 Page 4

 Exhibit B 

	 	(13)	The term “Tenant’s Share” shall mean the amount, from time to time, by which 100% exceeds Landlord’s Share. 

 

	 	(14)	The term “Permit Documentation” shall mean all permits and approvals necessary for Landlord to commence and complete Landlord’s Work on a timely
basis. 

  

	 	(15)	The term “Tenant Plan Excess Costs” shall mean the amount (if any) by which the total of all Permitted Costs exceeds the Maximum Amount of the Tenant
Allowance. 

  

	II.	Tenant’s Remedies 

The provisions of this Section II set forth Tenant’s sole remedies, both in law and in equity, based upon any delay in the
performance of Landlord’s Work or in the Commencement Date. 
  

	 	(A)	Rent Credit. If the Commencement Date does not occur on or before the Initial Rent Credit Date as defined in Section 1.2 of the Lease, Tenant shall be
entitled to a rent abatement (to be applied to the first installment(s) of Annual Fixed Rent due hereunder following the Commencement Date) equal to the sum of: 

 

	 	(1)	the product (“Initial Tier Rent Credit”) of: (x) Six Thousand Six Hundred Forty-Four and 33/100 ($6,644.43) Dollars, multiplied by (y) the
lesser of: (i) the number of days between and including the Initial Rent Credit Date and the day before the Increased Rent Credit Date, or (ii) the number of days that elapse from and including the Initial Rent Credit Date until the
Commencement Date; plus 

  

	 	(2)	if the Commencement Date occurs on or after the Increased Rent Credit Date, the product (“Increased Tier Rent Credit”) of: (x) Thirteen Thousand
Two Hundred Eighty-Eight and 64/100 ($13,288.64) Dollars, multiplied by (y) the number of days that elapse between and including the Increased Rent Credit Date and the Commencement Date. 

Each day of Tenant Delay shall be deemed conclusively to cause an equivalent day of delay by Landlord in substantially completing
Landlord’s Work, and thereby automatically extend for each such equivalent day of delay the dates of the Initial Rent Credit Date and the Increased Rent Credit Date. In addition, the Initial Rent Credit Date and the Increased Rent Credit Date
shall be extended by the number of days that Landlord is delayed in the performance of Landlord’s 

  
 Page 5

 Exhibit B 

 
Work by Force Majeure (but in no event for more than an additional sixty (60) days). For example, if there are 15 days of Tenant Delay and 15 days of Force Majeure Delay (i.e. so that the
Initial Rent Credit Date is May 31, 2012 and the Increased Rent Credit is July 31, 2012, and if the Commencement Date occurs on August 14, 2012, then the amount of the aggregate rent abatement to which Tenant shall be entitled with
respect to the rent payments due under the Lease shall be $611,284.26, i.e. the sum of an Initial Tier Rent Credit of $411,954.66 plus an Increased Tier Rent Credit in the amount of $199,329.60). 

 

	 	(B)	Tenant’s Termination Right. If the Commencement Date does not occur on or before the Outside Completion Date as defined in Section 1.2 of the Lease,
Tenant shall have the right to terminate the Lease by giving notice to Landlord of Tenant’s desire to do so before such completion and within the time period from the Outside Completion Date until the date which is thirty (30) days
subsequent to the Outside Completion Date; and, upon the giving of such notice, the term of the Lease shall cease and come to an end without further liability or obligation on the part of either party unless the Commencement Date occurs, on or
before the date thirty (30) days after Landlord’s receipt of such notice. Each day of Tenant Delay shall be deemed conclusively to cause an equivalent day of delay by Landlord in substantially completing the Landlord’s Work, and
thereby automatically extend for each such equivalent day of delay the date of the Outside Completion Date. In addition, the Outside Completion Date shall be extended by the number of days that Landlord is delayed in the performance of
Landlord’s Work by Force Majeure. 

  

	III.	Landlord’s Work. 

  

	 	(A)	Plans and Construction Process. 

  

	 	(1)	Preparation of the Plans. Tenant shall engage an architect licensed by the Commonwealth of Massachusetts and approved by Landlord, which approval shall
not be unreasonably withheld, conditioned, or delayed, to prepare the plans and specifications for Landlord’s Work (“Plans”). The Final Plans shall contain at least the information required by, and shall conform to the
requirements of, Exhibit B-1. Subject to delays arising from the default by Landlord in its obligations under this Section III, Tenant shall cause the Plans to be prepared and delivered to Landlord in accordance with the Plans and Construction
Schedule set forth in Section 1.2 of the Lease, and as follows: 

  

			
	 Delivery Date
	  	 Deliverable

	 Interim Plans Date
	  	50% complete construction documents
	 Long Lead Items Release Date
	  	Authorization to Landlord to purchase any long lead time items required in connection with Landlord’s Work (see Section III.A(3)
below)

  
 Page 6

 Exhibit B 

			
	 Final Plans Date
	  	Completed Plans and submission by Tenant to Landlord of all Permit Documentation
	 Authorization to Proceed Date
	  	Authorization to Landlord to commence the performance of Landlord’s Work
	 Budget Date
	  	Budget

 Landlord shall have no obligation to perform Landlord’s Work until the Plans shall have been
presented to it and approved by it. Provided that the Plans shall contain at least the information required by, and shall conform to the requirements of, Exhibit B-1, Landlord shall not unreasonably withhold or delay its approval of the Plans.
However, Landlord’s determination of matters relating to aesthetic issues relating to alterations or changes visible outside the Premises shall be in Landlord’s sole discretion. Landlord shall have no liability or responsibility for any
claim, injury or damage alleged to have been caused by the particular materials, whether building standard or non-building standard, selected by Tenant in connection with Tenant’s Work. Landlord shall respond (i.e. by written notice to Tenant
either approving Tenant’s submission or disapproving Tenant’s submission and stating the reasons for such disapproval) to each submission from Tenant within the following time frames: 

 

			
	 Deliverable
	  	 Landlord Response Period

	 Interim Plans
	  	Fifteen (15) business days
	 Final Plans
	  	Twenty (20) business days

  

	 	(2)	On or before the date twenty (20) business days after Landlord’s receipt of the Final Plans, Landlord shall, in accordance with the procedures set forth in
Sections III.A(3) and III.A(4) below, furnish to Tenant a written statement of all Hard Costs of Landlord’s Work (the “Tenant Plans Cost Notice”), which shall include a construction management fee (“Landlord’s
Construction Management Fee”) equal to the sum of: (i) $150,000, plus (ii) four (4%) percent of the amount, if any, which the Hard Costs incurred in connection with Landlord’s Work (exclusive of Landlord’s Construction
Management Fee) exceeds Five Million Five Hundred Forty-Seven Thousand Four Hundred Twenty ($5,547,420.00) Dollars. The Tenant Plans Cost Notice shall be based upon the Guaranteed Maximum Price contract which Landlord will enter into with the
Contractor, in accordance with the bid procedure set forth below. Landlord, upon Tenant’s request, shall provide Tenant reasonable evidence of the cost of the Landlord’s Work. 

  
 Page 7

 Exhibit B 

	 	(3)	Definition of Landlord’s Work. “Landlord’s Work” shall mean the alterations, leasehold improvements and other work shown on the
approved Plans. In addition, Landlord’s Work shall include, at no cost to Tenant and without deduction from the Tenant Allowance, the installation of check meters necessary to measure the consumption of base building electricity in the
Premises. However, Landlord’s Work shall not include, and Landlord shall have no responsibility for, the installation or connection of Tenant’s computer, telephone, other communication equipment, systems or wiring. Except for
Landlord’s Work, Tenant shall take the Premises, without any obligation on the part of Landlord to prepare the Premises for Tenant’s occupancy. The foregoing shall not relieve Landlord of its obligations under the Lease. To the extent that
Landlord is required, under the Condominium Documents, to obtain approvals in order to allow the performance of Landlord’s Work, Landlord shall obtain such approvals. 

 

	 	(4)	Bid Process; Tenant Plan Excess Costs. 

 (a) It is understood and agreed that Landlord shall bid the Landlord’s Work as a Guaranteed Maximum Price (“GMP”) contract. Landlord shall obtain bids for the performance of Landlord’s
Work from at least three (3) general contractors and shall require that all general contractor bids be based upon such general contractor having solicited and received bids from no less than three (3) licensed subcontractors with respect
to all major sub-trades (defined as subcontracts in excess of $50,000.00) forming a part of Landlord’s Work. Landlord shall provide Tenant with a copy of each such bid. When bids are solicited, upon the receipt of bids from any general
contractors selected to perform the Landlord’s Work (the “Contractor”) shall prepare a bid format which compares each bid, and shall deliver such bid format, together with copies of the bids themselves to Tenant (together with
Landlord’s designation of the bid Landlord intends to accept). Landlord shall review the bids with Tenant. The Contractor shall be: (i) any one of the contractors listed on Exhibit B-2,(ii) another reputable contractor selected by
Landlord, subject to Tenant’s prior written approval, which approval shall not be unreasonably withheld, or (iii) another reputable contractor selected by Tenant, subject to Landlord’s prior written approval, which approval shall not
be unreasonably withheld, except that Landlord shall be deemed to be reasonable in withholding such consent if, in Landlord’s bona fide business judgment: 
 (x) the proposed contractor does not have adequate experience in performing and completing projects of at least the size of Landlord’s Work within the schedule required in order to complete
Landlord’s Work on a timely basis as contemplated under this Lease, or 

  
 Page 8

 Exhibit B 

 (y) the quality of work performed by such contractor is not consistent with the quality of
tenant improvement work found in Class A office space in the Business District of the City of Boston. 
 (b) Landlord shall
have the right to select the general contractor who will perform Landlord’s Work, subject to Tenant’s approval (not to be unreasonably withheld, conditioned or delayed); provided, however, that Tenant may not object to the selection of any
general contractor who will be able to complete Landlord’s Work on or prior to the Estimated Commencement Date and whose bid for Landlord’s Work does not exceed the lowest received bid by more than five (5%) percent. In the event that
Tenant does not approve of a general contractor selected by Landlord who can complete Landlord’s Work on or prior to the Estimated Commencement Date but whose bid exceeds the lowest received bid by more than five (5%) percent, any delay in
the completion of the Landlord’s Work resulting from Tenant’s failure to approve Landlord’s selected general contractor shall be deemed to be a Tenant Delay hereunder. In all events, Landlord and Tenant shall cooperate with each other
in good faith in order to expedite the bid process. 
 (c) No Hard Cost incurred by Landlord in performing Landlord’s Work
which is in excess of the approved Guaranteed Maximum Price for Landlord’s Work, determined as aforesaid, shall be considered to be Permitted Costs and shall be paid by Landlord without deduction from the Allowance, except that any costs of
Landlord’s Work in excess of the approved Guaranteed Maximum Price arising from the following shall be included in Permitted Costs: (i) Tenant Delays, (ii) Change Orders requested or approved by Tenant, and (iii) Change Orders or
claims established by the Contractor to be based upon any errors or omissions in Tenant’s Plans. 
 (d) Tenant shall notify
Landlord in writing, within ten (10) business days (but not sooner than the Authorization to Proceed Date) after its receipt by Tenant of Landlord’s statement of Tenant Plan Excess Costs, of either its approval thereof and its
authorization to Landlord to proceed with Landlord’s Work in accordance with the Plans in the event Landlord had no objection to the Plans, or to submit revised Plans prepared by Tenant’s architect to respond to any objections raised by
Landlord or to reduce the Tenant Plan Excess Costs. In the event of the latter modification of the Plans, Landlord shall within five (5) business days of Landlord’s receipt any such proposed changes in the Plans prepared by Tenant’s
architect, quote to Tenant all changes in Tenant Plan Excess Costs resulting from said plan modifications and whether Landlord approves the revised Plans (which approval shall not be unreasonably withheld). Tenant shall, within two (2) business
days after receipt of Landlord’s revised quotation of Tenant Plan Excess Costs submit to Landlord any revisions to the Plans required by Landlord or Tenant in 

  
 Page 9

 Exhibit B 

 
accordance with this Exhibit B. To the extent the Permitted Costs exceed the Maximum Amount of Tenant Allowance, as set forth in Section 1.2 of the Lease, such excess shall, subject
to Section III.A(4)(c) above, be paid by Tenant to Landlord, as Additional Rent, as hereinafter set forth. 
 (e) Promptly
following Tenant’s approval of the Contractor and the Tenant Plans Cost Notice, Landlord shall enter into a construction contract (the “Construction Contract”) with the Contractor for the performance of the Landlord’s Work on the
basis of the approved GMP. Landlord agrees to copy Tenant (which copy may be via email to Tenant’s general counsel) on the final, executed Construction Contract executed between Landlord and the Contractor. 

 

	 	(5)	Authorization to Proceed Date; Long Lead Item Release Date. Tenant shall, on or before the Authorization to Proceed Date, give Landlord written
authorization to proceed with Landlord’s Work in accordance with Tenant’s approved Plans (“Notice to Proceed”). Notwithstanding anything to the contrary herein contained, if, for any reason other than a breach by Landlord
in its obligations under this Exhibit B, Tenant does not, on or before the Authorization Proceed Date, approve Landlord’s statement of Tenant Plan Excess Costs and authorize Landlord in writing to commence the performance of
Landlord’s Work, then any delay in the performance of Landlord’s Work arising from such failure by Tenant shall be considered to be a Tenant Delay. 

 “Long Lead Items” shall be defined as any items of work for which, in Landlord’s reasonable judgment, there is a long lead time in obtaining the materials therefor or which are
specially or specifically manufactured, produced or milled for the work in or to the Premises and require additional time for receipt or installation. In connection with its review and approval of the Plans, Landlord shall give written notice
(“Long Lead Notice”) identifying and notifying Tenant of any items contained in the Plans which Landlord then reasonably believes to be a Long Lead Item as soon as Landlord is advised by the Contractor that an item is a Long Lead
Item, but, in any event, on or before the date twenty (20) business days after Landlord receives the Final Plans. Landlord will give to Tenant Landlord’s best, good faith estimate of the period(s) of any delay which would be caused by a
long-lead item. On or before the Long Lead Item Release Date, Tenant shall have the right to either (a) revise the Plans to eliminate any such long-lead item or (b) give Landlord written authorization to proceed to purchase and/or contract
for Long Lead Items. Landlord shall advise Tenant, in its Long Lead Notice of any Long Lead Items which, in Landlord’s judgment, may still delay completion of the Landlord’s Work and thus result in a Tenant Delay even if Tenant authorizes
their purchase or before the Long Lead Item Release Date. Tenant acknowledges that any such Long Lead Items so identified by Landlord may delay completion of Landlord’s Work and thus result in a 

  
 Page 10

 Exhibit B 

 
Tenant Delay. No item shall be deemed to be a Long Lead Item unless Landlord identifies such item as a Long Lead Item in a Long Lead Notice in accordance with this Section III.A(5). 

 

	 	(6)	Change Orders. Tenant shall have the right, in accordance herewith, to submit for Landlord’s approval change proposals subsequent to Landlord’s
approval of the Plans and Tenant’s approval of the Tenant Plan Excess Costs, if any (each, a “Change Proposal”). Landlord agrees to respond to any such Change Proposal within such time as is reasonably necessary (taking into
consideration the information contained in such Change Proposal) after the submission thereof by Tenant, advising Tenant of any anticipated increase in costs (“Change Order Costs”) associated with such Change Proposal, as well as an
estimate of any delay which would likely result in the completion of the Landlord’s Work if a Change Proposal is made pursuant thereto (“Landlord’s Change Order Response”). Tenant shall have the right to then approve or
withdraw such Change Proposal within five (5) business days after Tenant’s receipt of Landlord’s Change Order Response. If Tenant fails to respond to Landlord’s Change Order Response within such five-(5)-business day period, such
Change Proposal shall be deemed withdrawn. If Tenant approves such Change Proposal, then such Change Proposal shall be deemed a “Change Order” hereunder and if the Change Order is made, then the Change Order Costs associated with
the Change Order shall be deemed additions to the Tenant Plan Excess Costs and shall be paid in the same manner as Tenant Plan Excess Costs are paid as set forth in this Exhibit B. 

 

	 	(7)	Tenant Response to Requests for Information and Approvals. Except to the extent that another time period is expressly herein set forth, Tenant shall
respond to any request from Landlord, Landlord’s Architect, Landlord’s contractor and/or Landlord’s Construction Representative for approvals or information in connection with Landlord’s Work, within three (3) business days
of Tenant’s receipt of such request. 

  

	 	(8)	Tenant’s Rights. Landlord will reasonably cooperate with Tenant and Tenant’s Construction Representative in the performance of the
Landlord’s Work to: (x) provide Tenant access to the Premises both prior to and during construction, (y) the right to attend the job meetings between Landlord and Contractor for the Landlord’s Work as set forth below, and
(z) review subcontractor submittals and shop drawings, provided that Tenant’s review of such submittals and shop drawings shall not be a condition of releasing materials. Tenant shall cause Tenant’s architect to inspect the quality of
construction of the Landlord’s Work and the compliance of the Landlord’s Work with the Tenant Plans, provided that: (i) such inspections are performed at a time mutually agreeable to Landlord and Tenant, and (ii) such inspections
will not cause any delay in the performance of the Landlord’s Work. Tenant shall have the right to 

  
 Page 11

 Exhibit B 

	 	
review and approve change orders to any portion of the Landlord’s Work proposed by Landlord or Contractor, which such approval shall not be unreasonably withheld, conditioned or delayed;
provided, however, that Tenant’s approval of the following change orders shall be in Tenant’s sole discretion, except to the extent that the same arise by reason of any errors or omissions in Tenant’s Plans or by reason of a Tenant
Delay: (a) a Change Order which materially affects the scope or quality of the Landlord’s Work (it being acknowledged and agreed that for the purposes hereof, the substitution of items of comparable quality to those shown on the Tenant
Plans shall not be deemed to materially affect the scope or quality of the Landlord’s Work), or (ii) a Change Order which causes an increase in the Tenant Plan Excess Costs. 

 

	 	(9)	Insurance. In addition to and not in limitation of the insurance required to be maintained by Landlord under this Lease, Landlord shall require the
Contractor performing Landlord’s Work to maintain at all times during the construction of Landlord’s Work commercially reasonable insurance coverages under a Commercial General Liability policy comparable to those being maintained by
contractors on similar projects in the Central Business District of the City of Boston. Landlord shall use commercially reasonable efforts to cause the Contractor to name Tenant as a certificate holder and additional insured on all insurance
coverages required under the Construction Contract (provided, however, that the failure or refusal by the Contractor to thus name Tenant shall not be considered to be a default by Landlord of any of its obligations under this Lease). The cost of
such insurance documented as allocable to the Landlord’s Work under this subsection Work Letter shall be a part of the Approved Tenant Plan Costs. 

  

	 	(10)	Time of the Essence. Time is of the essence in connection with Tenant’s obligations under this Section 1.1. 

 

	 	(B)	Tenant Delay. 

  

	 	(1)	Tenant Obligations with Respect to Tenant Delays. 

  

	 	(a)	Tenant covenants that no Tenant Delay (as defined above in Section I of this Exhibit B) shall delay commencement of the Term or the obligation to pay Annual Fixed Rent
or Additional Rent, regardless of the reason for such Tenant Delay or whether or not it is within the control of Tenant or any such employee. Landlord’s Work shall be deemed substantially completed as of the date when Landlord’s Work would
have been substantially completed but for any Tenant Delays. 

  
 Page 12

 Exhibit B 

	 	(b)	Tenant shall reimburse Landlord for the amount, if any, by which the cost of Landlord’s Work is increased as the result of any Tenant Delay, subject to
Tenant’s right to apply the Tenant Allowance towards such costs in accordance with Section (D) below. 

  

	 	(c)	Any amounts due from Tenant to Landlord under this Section (B)(1) shall be due and payable within thirty (30) days of billing therefore (except that amounts due in
connection with Change Orders shall be paid as provided in Section III.E below), and shall be considered to be Additional Rent. Nothing contained in this Section (B)(1) shall limit or qualify or prejudice any other covenants, agreements, terms,
provisions and conditions contained in the Lease. 

  

	 	(C)	Performance of Landlord’s Work. 

  

	 	(1)	Incomplete Work. Landlord shall complete as soon as conditions practically permit any incomplete items of Landlord’s Work, and Tenant shall cooperate
with Landlord in providing access as may be required to complete such work in a normal manner. 

  

	 	(2)	Early Access by Tenant. Landlord shall permit Tenant access specifically for the purpose of installing Tenant’s furniture, trade fixtures and Cable
in portions of the Premises from time to time prior to substantial completion (but at least thirty (30) days prior to substantial completion), so long as such installation of trade fixtures can be done without material interference with
remaining work or with the maintenance of harmonious labor relations, and provided that in Landlord’s bone fide business judgment no unreasonable interference is anticipated to occur. Any such access by Tenant shall be at upon all of the terms
and conditions of the Lease (other than the payment of Annual Fixed Rent) and shall be at Tenant’s sole risk, and Landlord shall not be responsible for any injury to persons or damage to property resulting from such early access by Tenant.

  

	 	(3)	Prohibition on Access by Tenant Prior to Actual Substantial Completion. If, prior to the date that the Premises are in fact actually substantially
complete, the Premises are deemed to be substantially complete pursuant to the provisions of this Exhibit B (i.e., and the Commencement Date has therefore occurred), Tenant shall not (except with Landlord’s consent) be entitled to take
possession of the Premises for the Permitted Use until the Premises are in fact actually substantially complete. 

  

	 	(D)	Special Allowance for Landlord’s Work 

  

	 	(1)	Landlord shall, in the manner hereinafter set forth, contribute an amount (“Tenant Allowance”) equal to up to the Maximum Amount of Tenant Allowance,
as defined in Section 1.2 of the Lease, towards Permitted Costs. Landlord shall be under no obligation to apply any portion of Tenant Allowance for any purposes other than to pay for Permitted Costs. 

  
 Page 13

 Exhibit B 

	 	(2)	The maximum aggregate amount of the Tenant Allowance which may be applied against the sum of Soft Costs and Other Costs shall not exceed the Soft/Other Costs Cap.

  

	 	(3)	Landlord shall have no obligation to pay any amount to Tenant on account of Other Costs until all Hard Costs and any Soft Costs for which Tenant is seeking
reimbursement have been fully paid for from Tenant Allowance. 

  

	 	(4)	Provided that Tenant is not in monetary default, or material non-monetary default, of its obligations under the Lease at the time that Landlord receives any Tenant
Requisition, and subject to the provisions of this Section III, Landlord shall pay to Tenant Landlord’s Share of the cost of the work shown on each Tenant Requisition received for any Soft Costs and Other Costs within thirty (30) days
after Landlord’s receipt of such requisition. Notwithstanding the foregoing, if Landlord refuses to pay any portion of Tenant Allowance based upon a default of Tenant, then Tenant shall have the right to resubmit its request for payment of such
portion of Tenant Allowance (and Landlord shall make payment to Tenant on account of such resubmission, in accordance with the provisions of this Section III.D) on the conditions that: (i) Tenant has cured such default, (ii) Tenant is then
in full compliance with its obligations under the Lease, and (iii) the Lease is then in full force and effect. 

  

	 	(5)	Provided that Tenant is not in monetary default, or material non-monetary default, of its obligations under the Lease, Landlord shall apply the Tenant Allowance towards
Landlord’s Share of the Hard Costs incurred (as Landlord’s Work progresses) by Landlord in connection with Landlord’s Work, including, Landlord’s Construction Management Fee. Notwithstanding the foregoing, if Landlord refuses to
apply any portion of the Tenant Allowance based upon a default of Tenant, then if: (i) Tenant has cured such default, (ii) Tenant is then in full compliance with its obligations under the Lease, and (iii) the Lease is then in full
force and effect, Landlord shall recommence the application of Landlord’s Share of the Hard Costs, as aforesaid. 

  

	 	(6)	Notwithstanding anything to the contrary herein contained, it shall be a condition to Landlord’s obligation to pay any amount due based upon an invoice submitted
by any contractor of Tenant’s that Tenant have submitted a Budget (or updated Budget), as applicable. 

  

	 	(7)	Notwithstanding anything to the contrary herein contained: 

  

	 	(a)	Landlord shall have no obligation to pay any undisbursed amount of the Tenant Allowance in respect of any Tenant Requisition submitted after the first anniversary of
the Commencement Date. 

  
 Page 14

 Exhibit B 

	 	(b)	Tenant shall not be entitled to any unused portion of the Tenant Allowance, nor shall there be any application of the Tenant Allowance toward Annual Fixed Rent or
Additional Rent owed by Tenant under the Lease. 

  

	 	(E)	Payment of Tenant Plan Excess Costs 

 To the extent, if any, that there are Tenant Plan Excess Costs, Tenant shall reimburse Landlord, as Additional Rent, within twenty-one (21) days after the receipt of a Funding Request (as hereinafter
defined) from Landlord, the Tenant Plan Excess Costs in the proportion that the Tenant Plan Excess Costs bear to the total cost of the Landlord’s Work; except that if Tenant Plan Excess Costs exceed $1,000,000.00, then Tenant shall pay to
Landlord, as Additional Rent, prior to the commencement of Landlord’s Work (or prior to a Change Order or other event which causes the aggregate amount (“Pre-Paid Tenant Plan Excess Costs”) of Tenant Plan Excess Costs to exceed
$1,000,000.00), all such Tenant Plan Excess Costs in excess of $1,000,000. 
 The following paragraph shall apply with respect
to all Tenant Plan Excess Costs other than Pre-Paid Tenant Plan Excess Costs: Landlord shall submit disbursement requests (each, a “Funding Request”) to Tenant not more than once during each calendar month along with, for each payment, a
payment request, which shall be substantially in the form of an Application for Payment on AIA Document G702 and G703 (it being acknowledged and agreed that individual contractors often make slight modifications to these AIA Documents) certified by
the Contractor seeking Tenant’s Share of the Tenant Plan Excess Costs. Landlord shall, upon request from time to time make available for Tenant’s review any copies of any insurance certificates or policies obtained by Landlord from the
contractor performing Landlord’s Work, as well as lien waivers received by Landlord from Landlord’s contractors with respect to Landlord’s Work. Tenant shall cause its Tenant’s Construction Representative or architect to inspect
the Landlord’s Work to confirm completion of the work represented by the Funding Request. Such inspection shall occur within seven (7) business days after receipt of the applicable Funding Request (which such seven (7) business day
period shall be included within the twenty-one (21) day period within which Tenant has to fund the applicable portion of the Tenant Plan Excess Costs). If Tenant fails to give written notice that it has approved a Funding Request within seven
(7) business days after its receipt of such Funding Request, Tenant shall be conclusively be deemed to have approved such Funding Request. 
  

	 	(F)	Quality and Performance of Work. 

 (1) All construction work required or permitted by this Lease shall be done in a good and workmanlike manner and in compliance with Legal Requirements, all 

  
 Page 15

 Exhibit B 

 
Insurance Requirements (as defined in Section 9.1 hereof) and, with respect to the Landlord’s Work, with the Tenant Plans. Any work performed by or on behalf of Tenant under this Lease
shall be coordinated with any work being performed by or on behalf of Landlord and in such manner as to maintain harmonious labor relations. 
 (2) Each party authorizes the other to rely in connection with design and construction upon the written approval or other written authorizations on such party’s behalf by any Construction
Representative of the party named in Section 1.1 or any person hereafter designated in substitution or addition by notice to the party relying. Each party may inspect the work of the other at reasonable times and shall promptly give notice of
observed defects. Tenant acknowledges that Tenant is acting for its own benefit and account and that Tenant will not be acting as Landlord’s agent in performing any work that may be undertaken by or on behalf of Tenant under this Lease, and
accordingly, no contractor, subcontractor or supplier of Tenant shall have a right to lien Landlord’s interest in the Property in connection with any such work. 
 (3) Landlord warrants to Tenant that: (a) the materials and equipment furnished in the performance of the Landlord’s Work will be of good quality; (b) the Landlord’s Work will be free
from defects not inherent in the quality described in the applicable plans and specifications therefor; and (c) the Landlord’s Work shall be weather-tight and otherwise in good working order and condition. Any portion of the
Landlord’s Work not conforming to the foregoing requirements will be considered defective. Landlord’s warranty hereunder shall not apply to the extent of damage or defect caused by (1) the negligent acts or omissions or the willful
misconduct of Tenant, its employees, agents, contractors, sublessees or permitted occupants under Article XII (“Tenant Construction Parties”), (2) improper operation by any of the Tenant Construction Parties, or (3) normal
wear and tear and normal usage. 
 (4) The foregoing warranty shall commence on the date on the Substantial Completion Date and
shall expire on the day immediately preceding the first anniversary of the Substantial Completion Date (such period being hereinafter referred to as the “Warranty Period”), provided that in any event Tenant is required to deliver notice to
Landlord of any defects at least thirty (30) days prior to the expiration of the applicable Warranty Period (the “Warranty Notice Period”) in order to permit Landlord to take action to enforce Landlord’s warranty rights with
respect to the Landlord’s Work, provided, however, that Landlord shall exercise commercially reasonable efforts to enforce Landlord’s warranty rights with respect to any notice delivered by Tenant after the Warranty Notice Period. Landlord
agrees that it shall, without cost to Tenant, correct any portion of the Landlord’s Work which during the Warranty Period is found not to be in accordance with the warranties set forth in this Subsection (4). All defective items shall, subject
to Tenant Delays and provided that Tenant has afforded Landlord with reasonable access to the Premises in order to undertake the work 

  
 Page 16

 Exhibit B 

 
described herein, be completed by Landlord within a reasonable period of time to be mutually agreed upon by Landlord and Tenant given the nature of the defect at issue after Landlord’s
receipt of a written notice from Tenant setting forth in reasonable detail the nature of the defect and Tenant’s assessment of why it believes such defect is covered by the warranties set forth herein (Landlord hereby agreeing to use reasonable
efforts to minimize interference with Tenant’s use and enjoyment of the Premises, consistent with the fact that Landlord is undertaking to remedy the defective work). The foregoing warranty and the expiration of the applicable Warranty Period
shall not serve to limit Landlord’s obligations under this Lease, including without limitation, Article VII and Exhibit C nor reduce or eliminate any of the limitations on or exclusions from Operating Expenses set forth in Section 7.4.

 (5) Except to the extent to which Tenant shall have given Landlord notice of respects in which Landlord has not performed
Landlord’s construction obligations under this Exhibit B within the applicable Warranty Notice Period, Tenant shall be deemed conclusively to have approved Landlord’s construction and shall have no claim that Landlord has failed to
perform any of Landlord’s obligations under this Exhibit B. Notwithstanding the foregoing, Landlord agrees that upon and after the expiration of the applicable Warranty Notice Period, Landlord shall, at Tenant’s request and at
Tenant’s sole cost and expense, enforce and exercise on behalf of Tenant any and all construction and manufacturers’ warranties and guaranties with respect to the Landlord’s Work to the extent still in force and effect at the time of
Tenant’s request. The provisions of this Subsection (F) shall not relieve Landlord of any obligation which Landlord has to make repairs or to perform maintenance pursuant to Article VII of the Lease nor limit any rights and remedies Tenant
may have at law or in equity against the Contractor or any other party (other than Landlord) performing work or supplying materials in connection with the Landlord’s Work. 

  
 Page 17

 Exhibit B 

 EXHIBIT B-1 
 ATLANTIC WHARF 
 TENANT PLAN AND WORKING DRAWING REQUIREMENTS 

 

	1.	Floor plan indicating location of partitions and doors (details required of partition and door types). 

 

	2.	Location of standard electrical convenience outlets and telephone outlets. 

 

	3.	Location and details of special electrical outlets; (e.g. Xerox), including voltage, amperage, phase and NEMA configuration of outlets. 

 

	4.	Reflected ceiling plan showing layout of standard ceiling and lighting fixtures. Partitions to be shown lightly with switches located indicating fixtures to be
controlled. 

  

	5.	Locations and details of special ceiling conditions, lighting fixtures, speakers, etc. 

 

	6.	Location and heat load in BTU/Hr. of all special air conditioning and ventilating requirements and all necessary HVAC mechanical drawings. 

 

	7.	Location and details of special structural requirements, e.g., slab penetrations and areas with floor loadings exceeding a live load of 70 lbs./s.f.

  

	8.	Locations and details of all plumbing fixtures; sinks, drinking fountains, etc. 

 

	9.	Location and specifications of floor coverings, e.g., vinyl tile, carpet, ceramic tile, etc. 

 

	10.	Finish schedule plan indicating wall covering, paint or paneling with paint colors referenced to standard color system. 

 

	11.	Details and specifications of special millwork, glass partitions, rolling doors and grilles, blackboards, shelves, etc. 

 

	12.	Hardware schedule indicating door number keyed to plan, size, hardware required including butts, latchsets or locksets, closures, stops, and any special items such as
thresholds, soundproofing, etc. Keying schedule is required. 

  

	13.	Verified dimensions of all built-in equipment (file cabinets, lockers, plan files, etc.). 

 

	14.	Location of any special soundproofing requirements. 

  

	15.	All drawings to be uniform size (30” X 42”) and shall incorporate the standard project electrical and plumbing symbols and be at a scale of 1/8” =
1’ or larger. 

  
 Page 1

 Exhibit B-1 

	16.	Drawing submittal shall include the appropriate quantity required for Landlord to file for permit along with four half size sets and one full size set for
Landlord’s review and use. 

  

	17.	Provide all other information necessary to obtain all permits and approvals for Landlord’s Work. 

 

	18.	Upon completion of the work, Tenant shall provide Landlord with two hard copies and one CAD file of updated architectural and mechanical drawings including all project
sketches and changes, including the record drawings showing all changes and adjustments made, but shall not be required to pay the additional cost to have all such changes incorporated into full “as-built” drawings in CAD format.

  
 Page 2

 Exhibit B-1 

 EXHIBIT B-2 
 APPROVED GENERAL CONTRACTORS 
 Turner Construction 

Elaine Construction 

Shawmut Construction 
 Lee Kennedy Construction 
 Commodore Construction 

  
 Page 1

 Exhibit B-2 

 EXHIBIT C 
 LANDLORD SERVICES 
  

	I.	CLEANING: 

 Cleaning and janitor
services as provided below: 
  

	 	A.	OFFICE AREAS: 

  

	 	Daily:	(Monday through Friday, inclusive, holidays observed by the cleaning company under its contract with Landlord excepted). 

 

	 	1.	Empty all waste receptacles and remove waste material from the Premises; wash receptacles as necessary. 

 

	 	2.	Sweep and dust mop all uncarpeted areas using a dust-treated mop. 

  

	 	3.	Vacuum all rugs and carpeted areas. 

  

	 	4.	Hand dust and wipe clean with treated cloths all horizontal surfaces, including furniture, office equipment, window sills, door ledges, chair rails, and convector tops,
within normal reach. 

  

	 	5.	Wash clean all water fountains and sanitize. 

  

	 	6.	Move and dust under all desk equipment and telephones and replace same (but not computer terminals, specialized equipment or other materials). 

 

	 	7.	Wipe clean all chrome and other bright work. 

  

	 	8.	Hand dust grill work within normal reach. 

  

	 	9.	Main doors to premises shall be locked and lights shut off upon completion of cleaning. 

Weekly: 
  

	 	1.	Dust coat racks and the like. 

  

	 	2.	Spot clean entrance doors, light switches and doorways. 

 Quarterly: 
  

	 	1.	Render high dusting not reached in daily cleaning to include: 

  

	 	a)	dusting all pictures, frames, charts, graphs and similar wall hangings. 

  
 Page 1

 Exhibit C 

	 	b)	dusting of all vertical surfaces, such as walls, partitions, doors and door frames, etc. 

 

	 	c)	dusting all pipes, ducts and moldings. 

  

	 	d)	dusting of all vertical blinds. 

  

	 	e)	dust all ventilating, air conditioning, louvers and grills. 

  

	 	2.	Spray buff all resilient floors. 

  

	 	B.	LAVATORIES: 

  

	 	Daily:	(Monday through Friday, inclusive, holidays observed by the cleaning company under its contract with Landlord excepted). 

 

	 	1.	Sweep and damp mop. 

  

	 	2.	Clean all mirrors, powder shelves, dispensers and receptacles, bright work, flushometers, piping and toilet seat hinges. 

 

	 	3.	Wash both sides of all toilet seats. 

  

	 	4.	Wash all basins, bowls and urinals. 

  

	 	5.	Dust and clean all powder room fixtures. 

  

	 	6.	Empty and clean paper towel and sanitary disposal receptacles. 

  

	 	7.	Remove waste paper and refuse. 

  

	 	8.	Refill tissue holders, soap dispensers, towel dispensers, and sanitary dispensers. 

Monthly: 
  

	 	1.	Machine scrub lavatory floors. 

  

	 	2.	Wash all partitions and tile walls in lavatories. 

  

	 	3.	Dust all lighting fixtures and grills in lavatories. 

  
 Page 2

 Exhibit C 

	 	C.	MAIN LOBBIES, ELEVATORS, STAIRWELLS AND COMMON CORRIDORS: 

  

	 	Daily:	(Monday through Friday, inclusive, holidays observed by the cleaning company under its contract with Landlord excepted). 

 

	 	1.	Sweep and damp mop all floors, empty and clean waste receptacles, dispose of waste. 

 

	 	2.	Clean elevators, wash or vacuum floors, wipe down walls and doors. 

  

	 	3.	Spot clean any metal work inside lobbies. 

  

	 	4.	Spot clean any metal work surrounding building entrance doors. 

  

	 	5.	Sweep all stairwells and dust handrails. 

 Monthly: 
  

	 	1.	All resilient tile floors in public areas to be spray buffed. 

  

	 	D.	WINDOW CLEANING: 

 All exterior
windows shall be washed twice per year. 
  

	II.	Base Building HVAC: 

  

	 	A.	Heating, ventilating and air conditioning equipment will be provided with sufficient capacity to accommodate a maximum population density of one (1) person per one
hundred fifty (150) square feet of useable floor area served, and a combined lightning and standard electrical load of 5.5 watts per square foot of useable floor area (excluding consumption of electricity by the Base Building HVAC system, but
including consumption of electricity by VAV boxes). In the event Tenant introduces into the Premises personnel or equipment which overloads the system’s ability to adequately perform its proper functions, Landlord shall so notify Tenant in
writing and supplementary system(s) may be required and installed by Landlord at Tenant’s expense, if within fifteen (15) days Tenant has not modified its use so as not to cause such overload. 

Operating criteria of the basic system shall not be less than the following: 

 

	 	i)	Cooling season indoor temperature of not in excess of 73 - 79 degrees Fahrenheit when outdoor temperature is 91 degrees Fahrenheit ambient. 

 

	 	ii)	Heating season minimum room temperature of 68 - 75 degrees Fahrenheit when outdoor temperature is 6 degrees Fahrenheit ambient. 

  
 Page 3

 Exhibit C 

	 	B.	Landlord shall provide heating, ventilating and air conditioning as normal seasonal changes may require so as to reasonably heat or cool the Premises in accordance with
the foregoing standards during Normal Building Operating Hours (8:00 a.m. to 6:00 p.m., Monday through Friday, legal holidays in all cases excepted, and, if requested by Tenant on or before 3:00 p.m. during the immediately preceding Friday, on any
Saturday from 8 a.m. to 12 noon). 

 If Tenant shall require air conditioning (during the air conditioning season) or heating or
ventilating during any season outside Normal Building Operating Hours, Landlord shall use Landlord’s best efforts to furnish such services for the area or areas specified by written request of Tenant submitted through the online work order
system to the Landlord before 3:00 p.m. of the business day requiring the extra usage (or the previous day if such services are required on Saturday, Sunday or Holidays. For such services, Tenant shall pay Landlord, as additional rent, upon receipt
of billing, Landlord’s then-current standard overtime HVAC charges at a rate designated by Landlord, from time to time, reflecting the cost of operating the equipment, the cost of administration, and an appropriate amount for accelerated
depreciation of the asset use. Overtime HVAC charges shall not exceed rates then charged, from time to time, for overtime HVAC usage by other first-class office buildings in the City of Boston. 

 

	III.	ELECTRICAL SERVICES: 

  

	 	A.	Landlord shall provide electric power for a combined load of 5.5 watts per square foot of useable area for lighting and for office machines through standard receptacles
for the typical office space. 

  

	 	B.	Landlord, at its option, may require separate metering and direct billing to Tenant for the electric power required for any special equipment (such as computers and
reproduction equipment) in excess of 3.5 watts per square foot. Tenant shall be solely responsible for the cost associated with such meter(s) required for Tenant’s special equipment and installation thereof. 

 

	 	C.	Landlord will furnish and install, at Tenant’s expense, all replacement lighting tubes, lamps and ballasts required by Tenant. Landlord will clean lighting
fixtures on a regularly scheduled basis at Tenant’s expense. 

  

	IV.	ELEVATORS: 

 Provide reasonable
passenger elevator service, including reasonably reduced service during all hours outside Normal Building Operating Hours (so as to provide for maintenance of elevators as may be necessary. 

 

	V.	WATER: 

 Provide hot water for
lavatory purposes and cold water for drinking, lavatory and toilet purposes. 

  
 Page 4

 Exhibit C 

	VI.	CARD ACCESS SYSTEM: 

 Landlord
will provide a card access system at one entry door of the Building and initially provide free of charge access cards to all properly identified employees of Tenant, such that all such employees can access the Building 24 hours per day, 7 days per
week, 365 days per year (subject to causes beyond Landlord’s control). Tenant shall pay to Landlord, as additional rent, reasonable charges as Landlord will establish from time to time, for any additional and/or replacement access cards.

  

	VII.	CONDENSER/CHILLED WATER: 

 To the
extent that Tenant requests the use of the Building’s condenser or chilled water system in connection with the operation of supplemental HVAC equipment serving the Premises, Landlord shall allow Tenant to tap into such system on the condition
that Tenant pay, as additional rent, for the Building standard charge for the use and operation of such system, the parties hereby agreeing that: (i) with respect to Tenant’s needs in connection with the initial Landlord’s Work, at
least 15 tons per floor of the Premises shall be available for Tenant’s use, and (ii) with respect to Tenant’s needs after the substantial completion of Landlord’s Work, Tenant’s use of the capacity of such system shall be
determined by Landlord on an “as available” basis. 

  
 Page 5

 Exhibit C 

 EXHIBIT D 
 FLOOR PLAN 

  
 Page 1

 Exhibit D 

 EXHIBIT E 
 DECLARATION AFFIXING THE COMMENCEMENT DATE OF LEASE 
 THIS AGREEMENT made this
             day of             , 2011, by and between BP RUSSIA WHARF LLC (hereinafter “Landlord”) and
BRIGHTCOVE INC. (hereinafter “Tenant”). 
 W I T N E S S E T H   T H A T: 

1. This Agreement is made pursuant to Section 3.1 of that certain Lease dated
            , 2011, between Landlord and Tenant (the “Lease”). 
 2. It is hereby stipulated that the Lease Term commenced on             , (being the “Commencement Date” under the Lease), and
shall end and expire on             , unless sooner terminated or extended, as provided for in the Lease. 
 WITNESS the execution hereof under seal by persons hereunto duly authorized, the date first above written. 

 

					
	LANDLORD:
	
	 BP RUSSIA WHARF LLC

a Delaware limited liability company

		
	 By:
	 	 Boston Properties Limited Partnership, a Delaware limited partnership,

its sole member

		 	 By: Boston Properties, Inc.,
   a Delaware corporation,
   its general
partner

  

			
	By:	 	  

	Name:	 	  

	Title:	 	  

  

							
	 	 	 	 	TENANT:
		
	ATTEST:	 	BRIGHTCOVE INC.
		 		 	a Delaware corporation
				
	By:	 	  
	 	By:	 	  

	Name:	 	  
	 	Name:	 	  

	Title:	 	  
	 	Title:	 	  

		 		 		 	  Hereunto duly authorized

  
 Page 1

 Exhibit E 

 EXHIBIT F 
 ATLANTIC WHARF PROCEDURE FOR ADJUSTMENT OF COSTS OF ELECTRIC 
 POWER USAGE BY
TENANTS 
 This memo outlines the procedure for adjusting charges for electric power to office tenants of the Building.

  

	 	1.	Main electric service will be provided by the local utility company to a central utility metering center. All charges by the utility will be read from these meters and
billed to and paid by Landlord at rates established by the applicable electricity supplier and the electricity distribution company (collectively the “Utility Companies”). 

 

	 	2.	In order to assure that charges for electric service are allocated among tenants in relation to the relative amounts of electricity used by each tenant, meters (known
as “check meters”) will be used to monitor tenant electric usage. On each whole floor of the Premises Landlord, at its sole cost, shall install one check meter serving the floor. On multi-tenant floors in the case of a ROFO exercise by
Tenant, Tenant, at its cost, shall install a check meter in order to monitor usage on such floor. However, in no event shall Landlord have any obligation or responsibility to install, hook-up, connect or otherwise activate any of Tenant’s
equipment and Tenant shall be solely responsible for installation and connection into electrical bus, tenant electrical panels and other like equipment and appurtenances. 

 

	 	3.	The Landlord will cause the check meters to be read periodically by its employees and on multi-tenant floors will perform an analysis of such information for the
purpose of determining whether any adjustments are required to achieve an allocation of the costs of electric service among the tenants in relation to the respective amounts of usage of electricity for those tenants. For this purpose, the Landlord
shall, as far as possible in each case, read the check meters to determine usage for periods that include one or more entire periods used by the Utility Companies for the reading of the meters located within the central utility metering center (so
that the Landlord may, in its discretion, choose periods that are longer than those used by the Utility Companies – for example, quarterly, semi-annual or annual periods). 

 

	 	4.	Tenant’s share of electricity shall be determined by Landlord on the following basis: 

 

	 	a.	The cost of the total amount of electricity supplied for usage by tenants during the period being measured shall be determined by dividing the total cost of electricity
through the central utility metering center as invoiced by the Utility Companies (without mark-up by Landlord) for the same period by the total amount of kilowatt hour usage as measured by the meters located within the central utility metering
center (herein called “Cost Per Kilowatt Hour”). 

  
 Page 1

 Exhibit F 

	 	b.	Tenant’s allocable share of electricity costs for the period (“Tenant Electricity”) shall be determined by multiplying the Cost Per Kilowatt Hour by the
number of kilowatt hours utilized by Tenant for such period as indicated by the check meter(s) for Tenant’s Premises. 

  

	 	c.	Where a floor is occupied by more than one tenant, and where all of the tenant spaces on such floor are not separately check-metered, the cost of Tenant Electricity for
tenant spaces that are not separately check-metered shall first be determined by the same procedure as set forth in paragraph (b) above (after subtracting out the usage shown on any check meter that runs off such floor meter), and then the
allocable share of each tenant on that floor whose space is not separately check-metered shall be determined by multiplying the total costs of Tenant Electricity for that floor by a fraction, the numerator of which is the rentable area leased to
such tenant and the denominator of which is the total rentable area under lease from time to time to tenants on said floor (other than those who are separately check metered); provided, however, that if the Landlord reasonably determines that the
cost of electricity furnished to the Tenant at the Premises exceeds the amount being paid under this Subsection (c), then Landlord shall charge Tenant for such excess and Tenant shall promptly pay the same upon billing therefor as Additional Rent
under the Lease. 

  

	 	d.	Where part or all of the rentable area on a floor has been occupied for less than all of the period for which adjustments are being made, appropriate and equitable
modifications shall be made to the allocation formula so that each tenant’s allocable share of costs equitably reflects its period of occupancy, provided that in no event shall the total of all costs as allocated to tenants (or to unoccupied
space) be less than the total cost of Tenant Electricity for said period. 

  

	5.              a.	Other than payments due pursuant to Section 4e above, Tenant shall pay to Landlord Tenant’s allocable share of Tenant Electricity costs for the period within
thirty (30) days after billing therefor. 

  

	 	b.	 In lieu of making payments as provided in subsection (a) above, at Landlord’s option, Tenant shall pay to Landlord an amount from time to
time reasonably estimated by Landlord to be sufficient to cover, in the aggregate, a sum equal to the Tenant’s allocable share of Tenant Electricity costs for each calendar year during the Lease Term. Such estimated payments shall be made at
the same time and in the same manner as Tenant’s monthly installments of Annual Fixed Rent. No later than one hundred twenty (120) days after the end of the first calendar year or fraction thereof ending December 31 and of each
succeeding calendar 

  
 Page 2

 Exhibit F 

	 	
year during the Lease Term or fraction thereof at the end of the Lease Term, Landlord shall render Tenant a statement in reasonable detail certified by an officer of Landlord, showing for the
preceding calendar year or fraction thereof, as the case may be, the Tenant’s allocable share of Tenant Electricity costs. Said statement to be rendered to Tenant also shall show for the preceding year or fraction thereof, as the case may be,
the amounts already paid by Tenant on account of Tenant’s allocable share of Tenant Electricity costs and the amount of Tenant’s allocable share of Tenant Electricity costs remaining due from, or overpaid by, Tenant for the year or other
period covered by the statement. If such statement shows a balance remaining due to Landlord, Tenant shall pay same to Landlord on or before the thirtieth (30th) day following receipt by Tenant of said statement. Any balance shown as due to Tenant shall be credited against
Annual Fixed Rent next due, or refunded to Tenant if the Lease Term has then expired and Tenant has no further obligation to Landlord. Payments by Tenant on account of Tenant’s allocable share of Tenant Electricity costs shall be deemed
Additional Rent and shall be made monthly at the time and in the fashion herein provided for the payment of Annual Fixed Rent. Landlord shall, upon written request made by Tenant on or before the date six (6) months after Landlord delivers to
Tenant any invoice for Tenant Electricity pursuant to this Exhibit F, give Tenant reasonable back-up supporting Landlord’s invoices on account of Tenant’s allocable share of Tenant Electricity. 

 

	 	 	All costs of electricity billed to Landlord for the Building through the central utility metering center (excluding the cost of electricity provided to the leasable
areas of the Building for plugs, lights, VAV boxes, and supplemental uses), shall be treated as part of the Operating Expenses for the Building for purposes of determining the allocation of those costs, which shall not include electricity for the
residential, retail or Garage portions of Atlantic Wharf. 

  

	 	 	Tenant shall be required to maintain any check meter located within its Premises. Further, Tenant agrees that it will not make any material 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, conditioned or delayed and will promptly advise
Landlord of any other material alteration or addition to such electrical equipment and/or appliances. 

  
 Page 3

 Exhibit F 

 EXHIBIT G 
 FORMS OF LIEN WAIVERS 
 CONTRACTOR’S PARTIAL WAIVER AND SUBORDINATION OF LIEN

  

									
	 STATE OF
	 	  
	  		  	  Date:	 	  

 

									
	  
	 	COUNTY	  	Application for Payment No.:	  		  	  

  

			
	 OWNER:
	  	  

		
	 CONTRACTOR:
	  	  

		
	 LENDER / MORTGAGEE:
	  	   None

  

							
	 1.      Original Contract Amount:
	  	$	 	  	  	  

			
	 2.      Approved Change Orders:
	  	$	 	  	  	  

			
	 3.      Adjusted Contract Amount:

(line 1 plus line 2)
	  	$	 	  	  	  

			
	 4.      Completed to Date:
	  	$	 	  	  	  

			
	 5.      Less Retainage:
	  	$	 	  	  	  

			
	 6.      Total Payable to Date:

(line 4 less line 5)
	  	$	 	  	  	  

			
	 7.      Less Previous Payments:
	  	$	 	  	  	  

			
	 8.      Current Amount Due:

(line 6 less line 7)
	  	$	 	  	  	  

			
	 9.      Pending Change Orders:
	  	$	 	  	  	  

			
	 10.    Disputed Claims:
	  	$	 	  	  	  

 The undersigned who has a contract with
                                 for furnishing labor or materials or both labor
and materials or rental equipment, appliances or tools for the erection, alteration, repair or removal of a building or structure or other improvement of real property known and identified as located in
                     (city or town),
                     County,
                                 and owned by
                    , upon receipt of
                     ($            ) in payment of an
invoice/requisition/application for payment dated                      does hereby: 

  
 Page 1

 Exhibit G 

	 	(a)	waive any and all liens and right of lien on such real property for labor or materials, or both labor and materials, or rental equipment, appliances or tools, performed
or furnished through the following date                      (payment period), except for retainage, unpaid agreed or pending change orders,
and disputed claims as stated above; 

  

	 	(b)	subordinate any and all liens and right of lien to secure payment for such unpaid, agreed or pending change orders and disputed claims, and such further labor or
materials, or both labor and materials, or rental equipment, appliances or tools, except for retainage, performed or furnished at any time through the twenty-fifth day after the end of the above payment period, to the extent of the amount actually
advanced by the above lender/mortgagee through such twenty-fifth day. 

 Signed under the penalties of perjury
this              day of                     ,
20    . 
  

					
	WITNESS:	  		  	CONTRACTOR:
			
	  
	  		  	  

			
	Name:                             
                                         
                          	  		  	Name:                            
                                         
                      
			
	Title:                            
                                         
                             	  		  	Title:                            
                                         
                        

  
 Page 2

 Exhibit G 

 SUBCONTRACTOR’S LIEN WAIVER 

 

							
	 General Contractor:
	 	  

		
	 Subcontractor:
	 	  

		
	 Owner:
	 	  

		
	 Project:
	 	  

				
	 Total Amount Previously Paid:
	 		 	$	 	  

				
	 Amount Paid This Date:
	 		 	$	 	  

			
	 Retainage (Including This Payment) Held to Date:
	 	$	 	  

 In consideration of the receipt of the amount of payment set forth above and any and all past payments received from the
Contractor in connection with the Project, the undersigned acknowledges and agrees that it has been paid all sums due for all labor, materials and/or equipment furnished by the undersigned to or in connection with the Project and the undersigned
hereby releases, discharges, relinquishes and waives any and all claims, suits, liens and rights under any Notice of Identification, Notice of Contract or statement of account with respect to the Owner, the Project and/or against the Contractor on
account of any labor, materials and/or equipment furnished through the date hereof. 
 The undersigned individual represents and warrants that
he is the duly authorized representative of the undersigned, empowered and authorized to execute and deliver this document on behalf of the undersigned and that this document binds the undersigned to the extent that the payment referred to herein is
received. 
 The undersigned represents and warrants that it has paid in full each and every sub-subcontractor, laborer and labor and/or
material supplier with whom undersigned has dealt in connection with the Project and the undersigned agrees at its sole cost and expense to defend, indemnify and hold harmless the Contractor against any claims, demands, suits, disputes, damages,
costs, expenses (including attorneys’ fees), liens and/or claims of lien made by such sub-subcontractors, laborers and labor and/or material suppliers arising out of or in any way related to the Project. This document is to take effect as a
sealed instrument. 

  
 Page 3

 Exhibit G 

 Signed under the penalties of perjury as of this
             day of                     ,
20    . 
  

							
	 SUBCONTRACTOR:
	  		  	Signature and Printed Name of Individual
Signing this Lien Waiver
			
	  
	  		  	  

			
		  		  	  

			
	WITNESS:	  		  	
			
	  
	  		  	
				
	 Name:
	 	  
	  		  	
	 Title:
	 	  
	  		  	
				
	 Dated:
	 	  
	  		  	

  
 Page 4

 Exhibit G 

 CONTRACTOR’S WAIVER OF CLAIMS AGAINST OWNER AND ACKNOWLEDGMENT OF FINAL PAYMENT

  

											
	 Commonwealth of Massachusetts
	  		  	Date:	  	  

						
	 COUNTY OF
	  	  
	  		  		  	Invoice No.:	  	  

 

					
	 OWNER:
	 		  	  

			
	 CONTRACTOR:
	 		  	  

			
	 PROJECT:
	 		  	  

  

							
	 1.      Original Contract Amount:
	  	$	 	  	  	  

			
	 2.      Approved Change Orders:
	  	$	 	  	  	  

			
	 3.      Adjusted Contract Amount:
	  	$	 	  	  	  

			
	 4.      Sums Paid on Account of Contract Amount:
	  	$	 	  	  	  

			
	 5.      Less Final Payment Due:
	  	$	 	  	  	  

 The undersigned being duly sworn hereby attests that when the Final Payment Due as set forth above is paid in full by
Owner, such payment shall constitute payment in full for all labor, materials, equipment and work in place furnished by the undersigned in connection with the aforesaid contract and that no further payment is or will be due to the undersigned.

 The undersigned hereby attests that it has satisfied all claims against it for items, including by way of illustration but not by way of
limitation, items of: labor, materials, insurance, taxes, union benefits, equipment, etc. employed in the prosecution of the work of said contract, and acknowledges that satisfaction of such claims serves as an inducement for the Owner to release
the Final Payment Due. 
 The undersigned hereby agrees to indemnify and hold harmless the Owner from and against all claims arising in
connection with its Contract with respect to claims for the furnishing of labor, materials and equipment by others. Said indemnification and hold harmless shall include the reimbursement of all actual attorneys’ fees and all costs and expenses
of every nature, and shall be to the fullest extent permitted by law. 
 The undersigned hereby irrevocably waives and releases any and all
liens and right of lien on such real property and other property of the Owner for labor or materials, or both labor and materials, or rental equipment, appliances or tools, performed or furnished by the undersigned, and anyone claiming by, through,
or under the undersigned, in connection with the Project. 

  
 Page 5

 Exhibit G 

 The undersigned hereby releases, remises and discharges the Owner, any agent of the Owner and their
respective predecessors, successors, assigns, employees, officers, shareholders, directors, and principals, whether disclosed or undisclosed (collectively “Releasees”) from and against any and all claims, losses, damages, actions and
causes of action (collectively “Claims”) which the undersigned and anyone claiming by, through or under the undersigned has or may have against the Releasees, including, without limitation, any claims arising in connection with the
Contract and the work performed thereunder. 
 Notwithstanding anything to the contrary herein, payment to the undersigned of the Final Payment
Due sum as set forth above, shall not constitute a waiver by the Owner of any of its rights under the contract including by way of illustration but not by way of limitation guarantees and/or warranties. Payment will not be made until a signed waiver
is returned to Owner. 
 The undersigned individual represents and warrants that he/she is the duly authorized representative of the
undersigned, empowered and authorized to execute and deliver this document on behalf of the undersigned. 

  
 Page 6

 Exhibit G 

 Signed under the penalties of perjury as a sealed instrument as of this
         day of                     ,
            . 
  

					
	  
	 	 Corporation
		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

		 	  Hereunto duly authorized

 COMMONWEALTH OF MASSACHUSETTS 
   COUNTY OF SUFFOLK 
 On this
         day of                     , 20    , before me, the
undersigned notary public, personally appeared
                                        ,
proved to me through satisfactory evidence of identification, to be the person whose name is signed on the preceding or attached document, and acknowledged to me that he/she signed it as
                     for
                    , a corporation/partnership voluntarily for its stated purpose. 

 

	
	  

	   NOTARY PUBLIC

	   My Commission Expires:

  
 Page 7

 Exhibit G 

 EXHIBIT H 
 BROKER DETERMINATION OF PREVAILING MARKET RENT 
 Where in the Lease to which this Exhibit is
attached provision is made for a Broker Determination of Prevailing Market Rent (defined in Section 3.2B of the Lease), the following procedures and requirements shall apply: 

 

	1.	Tenant’s Request. Tenant shall send a notice to Landlord in accordance with Section 3.2 of the Lease, requesting a Broker Determination of the Prevailing
Market Rent, which notice to be effective must (i) make explicit reference to the Lease and to the section of the Lease pursuant to which said request is being made, and (ii) include the name of a broker selected by Tenant to act for
Tenant, which broker shall be affiliated with a major Boston commercial real estate brokerage firm selected by Tenant and which broker shall have at least ten (10) years experience dealing in properties of a nature and type generally similar to
the Building located in the Downtown Boston and Financial District Markets. 

  

	2.	Landlord’s Response. Within thirty (30) days after Landlord’s receipt of Tenant’s notice requesting the Broker Determination and stating the name of
the broker selected by Tenant, Landlord shall give written notice to Tenant of Landlord’s selection of a broker having at least the affiliation and experience referred to above. 

 

	3.	Selection of Third Broker. Within ten (10) days thereafter the two (2) brokers so selected shall select a third such broker also having at least the
affiliation and experience referred to above. 

  

	4.	Rental Value Determination. Within thirty (30) days after the selection of the third broker, the three (3) brokers so selected, by majority opinion, shall
make a determination of the Prevailing Market Rent of the Premises for the Extended Term. Such annual fair market rental value determination shall take into account all relevant factors, and (x) may include provision for annual increases in
rent during said Extended Term if so determined, (y) shall take into account the as-is condition of the Premises and economic concessions (if any) granted by Landlord to Tenant, and (z) shall take account of, and be expressed in relation
to, the payment in respect of taxes and operating costs and the Base Years for taxes and operating costs, as well as provisions for paying for so-called tenant electricity as contained in the Lease. The brokers shall advise Landlord and Tenant in
writing by the expiration of said thirty (30) day period of the Prevailing Market Rent as so determined. 

  

	5.	 Resolution of Broker Deadlock. If the Brokers are unable to agree at least by majority on a determination of Prevailing Market Rent, then the brokers
shall send a notice to Landlord and Tenant by the end of the thirty (30) day period for making said determination setting forth their individual determinations of Prevailing Market Rent, and the broker who submitted neither the highest such
determination nor the lowest such determination shall select either the highest determination or the lowest such determination as the most reflective of the Prevailing Market Rent for the Premises for

  
 Page 1

 Exhibit H 

	 	
the applicable term and shall give notice thereof to Landlord and Tenant, and such determination of the Prevailing Market Rent shall be deemed to be the final and binding determination of the
Prevailing Market Rent. 

  

	6.	Costs. Each party shall pay the costs and expenses of the broker selected by it and each shall pay one half (1/2) of the costs and expenses of the third broker.

  

	7.	Failure to Select Broker or Failure of Broker to Serve. If Tenant shall have requested a Broker Determination and Landlord shall not have designated a broker within the
time period provided therefor above and such failure shall continue for more than ten (10) days after notice thereof, then Tenant’s broker shall alone make the determination of the Prevailing Market Rent in writing to Landlord and Tenant
within thirty (30) days after the expiration of Landlord’s right to designate a broker hereunder. If Tenant and Landlord have both designated brokers but the two brokers so designated do not, within a period of fifteen (15) days after
the appointment of the second broker, agree upon and designate the third broker willing so to act, the Tenant, the Landlord or either broker previously designated may request the Boston Bar Association (or such organization as may succeed to the
Boston Bar Association) to designate the third broker willing so to act and a broker so appointed shall, for all purposes, have the same standing and powers as though he had been seasonably appointed by the brokers first appointed. In case of the
inability or refusal to serve of any person designated as a broker, or in case any broker for any reason ceases to be such, a broker to fill such vacancy shall be appointed by the Tenant, the Landlord, the brokers first appointed or the Boston Bar
Association, as the case may be, whichever made the original appointment, or if the person who made the original appointment fails to fill such vacancy, upon application of any broker who continues to act or by the Landlord or Tenant such vacancy
may be filled by the said Boston Bar Association, and any broker so appointed to fill such vacancy shall have the same standing and powers as though originally appointed. 

  
 Page 2

 Exhibit H 

 EXHIBIT I 
 LIST OF MORTGAGES 
 THE BANK OF NEW YORK MELLON, as administrative Agent for
the benefit of the Lenders under that certain Construction Loan Agreement dated April 21, 2009 between Landlord, as borrower, and THE BANK OF NEW YORK MELLON, whose address is One Wall Street, New York, New York 10286, RBS CITIZENS, N.A., whose
address is 28 State Street, Boston, Massachusetts 02109, U.S. BANK NATIONAL ASSOCIATION, whose address is One Post Office Square, Boston, Massachusetts 02109, PNC BANK, NATIONAL ASSOCIATION, whose address is 1600 Market Street, Philadelphia,
Pennsylvania 19103, SUNTRUST BANK, whose address is 8330 Boone Boulevard, 8th Floor, Vienna, Virginia 22182, and any other Lenders who may become a party hereto, collectively as Lenders (as defined below), and RBS CITIZENS, N.A., as Documentation Agent (in such capacity,
hereinafter referred to as “Documentation Agent”), U.S. BANK NATIONAL ASSOCIATION, as Syndication Agent (in such capacity, hereinafter referred to as “Syndication Agent”) and THE BANK OF NEW YORK MELLON, as Administrative Agent.

  
 Page 1

 Exhibit I 

 EXHIBIT J 
 FORM OF LETTER OF CREDIT 
 [Letterhead of a money center bank acceptable to the
Landlord] 
 [Please note the tenant on this Letter of Credit must match the exact tenant entity in the Lease] 

[date] 
 [Landlord] 

c/o Boston Properties LP 
 800 Boylston Street,
Suite 1900 
 Boston, Massachusetts 02199-8103 
 Attn: Lease Administration, Legal Dept. 
 Gentlemen: 

We hereby establish our Irrevocable Letter of Credit and authorize you to draw on us at sight for the account of [Tenant]
(“Applicant”), the aggregate amount of [spell out dollar amount] and [    ]/100 Dollars
[($                    )]. You shall have the right to make partial draws against this Letter of Credit from time to time. 

Funds under this Letter of Credit are available to the beneficiary hereof as follows: 

Any or all of the sums hereunder may be drawn down at any time and from time to time from and after the date hereof by [Landlord]
(“Beneficiary”) when accompanied by this Letter of Credit and a written statement signed by an individual purporting to be an authorized agent of Beneficiary, certifying that such moneys are due and owing to Beneficiary, and a sight draft
executed and endorsed by such individual. 
 This Letter of Credit is transferable in its entirety to any successor in interest
to Beneficiary as owner of [Property, Address, City/Town, State]. Should a transfer be desired, such transfer will be subject to the return to us of this advice, together with written instructions. Any fees related to such transfer shall be
for the account of the Applicant. 
 The amount of each draft must be endorsed on the reverse hereof by the negotiating bank. We
hereby agree that this Letter of Credit shall be duly honored upon presentation and delivery of the certification specified above. 
 This Letter of Credit shall expire on [Final Expiration Date]. 

Notwithstanding the above expiration date of this Letter of Credit, the term of this Letter of Credit shall be automatically renewed for
successive, additional one (1) year periods unless, at 

  
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 Exhibit J 

 
least sixty (60) days prior to any such date of expiration, the undersigned shall give written notice to Beneficiary, by certified mail, return receipt requested and at the address set forth
above or at such other address as may be given to the undersigned by Beneficiary, that this Letter of Credit will not be renewed. 
 This Letter of Credit is governed by the Uniform Customs and Practice for Documentary Credits (1993 Revision), International Chamber of Commerce Publication 500. 

Very truly yours, 
 [Name of Issuing Bank]

  

			
		
	By:	 	 
	Name:	 	 
	Title	 	 

  
 Page 2

 Exhibit J 

 EXHIBIT K 
 FORM OF CERTIFICATE OF INSURANCE 
 

 

  
 Page 1

 Exhibit K 

 

 

  
 Page 2

 Exhibit K 

 EXHIBIT L 
 FORM OF SUBORDINATION, NON-DISTURBANCE AND 
 ATTORNMENT AGREEMENT

 THIS SUBORDINATION, NON-DISTURBANCE AND ATTORNMENT AGREEMENT (this “Agreement”), made and entered into as of
this              day of                     ,
200     by and among BRIGHTCOVE INC., a Delaware corporation, having an offices at
                                 (“Tenant”), BP RUSSIA WHARF LLC, a
Delaware limited liability company, having an office at c/o Boston Properties Limited Partnership, 800 Boylston Street, Boston, Massachusetts 02199-8103 (the “Landlord”) and THE BANK OF NEW YORK MELLON, a New York corporation, having an
office at One Wall Street, New York, New York 10286, as Administrative Agent for the benefit of the Lenders (each a “Lender” and collectively the “Lenders”) under that certain Construction Loan Agreement hereinafter defined
(“Administrative Agent”). 
 W I T N E S S E T H

 WHEREAS, by Lease dated
                    , 2011 (hereinafter collectively referred to as the “Lease”), Landlord leased and rented to Tenant certain
premises located at Atlantic Wharf, 280-294 Congress Street, Boston, Massachusetts (the “Property”), which Property is more particularly described in Exhibit A attached hereto and made a part hereof; and 

WHEREAS, the Property is or is to be encumbered by a mortgage or mortgages or other similar security agreement (collectively, the
“Mortgage”) in favor of or to be assigned to Administrative Agent for the benefit of the Lenders pursuant to the terms of a Construction Loan Agreement dated as of April 21, 2009 by and among Landlord, Administrative Agent and the
Lenders party thereto (the “Construction Loan Agreement”); and 
 WHEREAS, Administrative Agent and the Lenders do not
wish to make the loan or loans secured by the Mortgage or to consent to Tenant’s Lease, unless Tenant subordinates the Lease and Tenant’s rights thereunder to the lien and provisions of the Mortgage; and 

WHEREAS, pursuant to and under the terms set forth in the Mortgage, Landlord has assigned to Administrative Agent for the benefit of the
Lenders all of its right, title and interest in the Lease and the rents payable thereunder to Administrative Agent for the benefit of the Lenders as security for the performance of Landlord’s obligations secured by the Mortgage; and 

  
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 Exhibit L 

 WHEREAS, Tenant and Administrative Agent desire hereby to establish certain rights,
safeguards, obligations and priorities with respect to their respective interests by means of this Subordination, Non-Disturbance and Attornment Agreement; 
 NOW THEREFORE, for and in consideration of the premises and the mutual covenants and promises herein contained, and other good and valuable considerations, the receipt and sufficiency of which are hereby
acknowledged, Tenant and Administrative Agent agree as follows: 
 1. Subject to the terms and conditions of this Agreement, the
Lease and the rights of Tenant thereunder are and at all times hereafter shall be subject and subordinate to the lien of the Mortgage and to all of the terms, conditions and provisions thereof, to all advances made or to be made thereunder, to the
full extent of the principal sum and interest thereon from time to time secured thereby, and to any renewal, substitution, extension, modification, consolidation, spreader or replacement thereof, including any increase in the indebtedness secured
thereby or any supplements thereto, with the same force and effect as if the Mortgage had been executed, delivered and recorded prior to the execution and delivery of the Lease. In the event that Administrative Agent, the Lenders or any other person
acquires title to the Property pursuant to the exercise of any remedy provided for in the Mortgage or by reason of the acceptance of a deed in lieu of foreclosure (the Administrative Agent, the Lenders and any other such person and their
participants, successors and assigns being referred to herein as the “Purchaser”), Tenant covenants and agrees to attorn to and recognize and be bound to Purchaser as its new Landlord, and subject to the proviso in Paragraph 2 of this
Agreement, the Lease shall continue in full force and effect as a direct Lease between Tenant and Purchaser, except that, notwithstanding anything to the contrary herein or in the Lease, the provisions of the Mortgage will govern with respect to the
disposition of proceeds of Landlord’s insurance policies and condemnation awards. 
 2. So long as the Lease is in full
force and effect and Tenant is not in Default under the Lease: 
 (a) The right of possession of Tenant to the leased premises
shall not be terminated or disturbed by any steps or proceedings taken by Administrative Agent or the Lenders in the exercise of any of its rights under the Mortgage; 
 (b) The Lease shall not be terminated or affected by said exercise of any remedy provided for under the Mortgage, and Administrative Agent hereby covenants that any sale by it of the Property pursuant to
the exercise of any rights and remedies under the Mortgage or otherwise, shall be made subject to the Lease and the rights of Tenant thereunder. 
 3. In no event shall Administrative Agent, the Lenders or any other Purchaser be: 

  
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 Exhibit L 

 (a) liable for any accrued obligation of, or any act or omission of, the Landlord or any
prior landlord, provided, however, the foregoing shall not relieve Administrative Agent, the Lenders or any Purchaser of the obligation to perform Landlord’s obligations under the Lease after succeeding to Landlord’s interest under the
Lease; 
 (b) liable for the return of any security deposit which was delivered to Landlord, but which was not subsequently
delivered to Administrative Agent, the Lenders or any other Purchaser; 
 (c) subject to any offsets, defenses or counterclaims
which the Tenant might have against Landlord or any prior landlord, except for any rights of abatement as expressly set forth in Sections 7.6 and Article XIV of the Lease; 
 (d) bound by any payment of rent or additional rent which Tenant might have paid to Landlord or any prior landlord for more than the current month; or 

(e) bound by any action listed in Paragraph 7(a) through (d) below made without Administrative Agent’s or such other
Purchaser’s prior written consent. 
 4. Neither Administrative Agent, the Lenders nor any Purchaser shall be obligated to
undertake or complete any construction, renovation, addition or capital improvements to the Property or the premises demised under the Lease, nor to pay or reimburse the cost of any construction or other special landlord work (either presently
underway or hereafter to be undertaken), nor to make any repairs to the Property or to the premises demised under the Lease as a result of any fire or other casualty or by reason of condemnation, and whether or not the same is set forth in the Lease
or any other agreement, nor, so long as the Mortgage remains outstanding and unpaid, shall the proceeds of any insurance or condemnation awards of Landlord be applied other than as provided for in the Mortgage and the Construction Loan Agreement.
Nothing set forth in this Section 4 shall affect or postpone Tenant’s right to exercise Tenant’s express termination rights under the Lease, as such termination rights are affected by Section 5 below. 

5. Tenant agrees to give prompt written notice to Administrative Agent of any default by Landlord under the Lease which would entitle
Tenant to cancel the Lease or abate the rent payable thereunder, and agrees that notwithstanding any provision of the Lease, no notice of cancellation thereof given on behalf of Tenant shall be effective unless Administrative Agent has received said
notice and has failed within thirty (30) days of the date of receipt thereof to cure Landlord’s default, or if the default cannot reasonably be cured within thirty (30) days, has failed to commence and to diligently pursue the cure of
Landlord’s default which gave rise to such right of cancellation or abatement. Tenant further agrees to give such notices to any successor of Administrative Agent, provided that such successor shall have given written notice to Tenant of its
acquisition of Administrative Agent’s interest in the Mortgage and designated the address to which such notices are to be sent. 

  
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 Exhibit L 

 6. Tenant acknowledges that Landlord will execute and deliver to Administrative Agent for
the benefit of the Lenders Assignments of Leases and Rents conveying the rentals under the Lease as additional security for the loan secured by the Mortgage, and Tenant hereby expressly consents to such Assignments. 

7. Tenant agrees that it will not, without the prior written consent of Administrative Agent, which will not unreasonably withheld,
conditioned or delayed, do any of the following, and any such purported action without such consent shall be void as against Administrative Agent and the Lenders: 
 (a) materially modify or materially amend or terminate the Lease, except for the exercise of Tenant’s express termination rights set forth in the Lease; or 

(b) enter into any extensions or renewals thereof in such a way as to reduce the rent (other than pursuant to the extension or renewal
options in the Lease), accelerate rent payments, shorten the term of the lease, or materially change any renewal option; or 

(c) prepay any of the rents, additional rents or other sums due under the Lease for more than one (1) month in advance of the due
dates thereof other than any security deposits (including last month’s rent), exclusive of payments of additional rent on an estimated basis in accordance with the terms of the Lease; or 

(d) assign the Lease or sublet the premises demised under the Lease or any part thereof except pursuant to the provisions of the Lease.

 8. Landlord hereby irrevocably authorizes and directs Tenant to pay to Administrative Agent, or to such person or firm
designated by Administrative Agent, all rent and other monies due and to become due to Landlord under the Lease after notice from Administrative Agent to Tenant that there has occurred and is continuing an Event of Default under the Mortgage. Tenant
shall be entitled to rely upon any such notice received from Administrative Agent, and shall have no duty to inquire concerning the truth or efficacy of any such notice or to honor any contrary notice or demand received from Landlord. Tenant shall,
after such notice from Administrative Agent, pay to Administrative Agent, or to such person or firm designated by Administrative Agent, all rent and other monies due and to become due to Landlord under the Lease. Such receipt of rent by
Administrative Agent or any other party shall not relieve Landlord of its obligations under the Lease, and Tenant shall continue to look to Landlord only for performance thereof. No person or entity who exercises a right, arising under the Mortgage
or any assignment of the Lease, to receive the rents, additional rents or other sums payable by Tenant under the Lease shall thereby become obligated to Tenant for the performance of any of the terms, covenants, conditions and agreements of Landlord
under the Lease. 
 9. Tenant agrees that if Administrative Agent or the Lenders acquire title to the Property as a result of
foreclosure of the Mortgage, the acceptance of a deed in lieu of such foreclosure, or obtaining control of the Property pursuant to the remedies contained 

  
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 Exhibit L 

 
in the Mortgage, the laws of the Commonwealth of Massachusetts or otherwise, Tenant shall have no recourse to any assets of Administrative Agent or any Lender other than the Property and the
rents, issues and proceeds therefrom. Upon Administrative Agent’s or the Lenders’ acquisition of title to or control of the Premises in the manner aforesaid, the Lease shall be modified to include the provisions contained herein
notwithstanding any other provisions of said Lease. 
 10. Tenant agrees to certify in writing to Administrative Agent, upon
request, whether or not, to Tenant’s actual knowledge, any default on the part of Landlord then exists under the Lease and the nature of any such default. 
 11. The foregoing provisions shall be self-operative and effective without the execution of any further instruments on the part of either party hereto. However, Tenant agrees to execute and deliver to
Administrative Agent such other commercially reasonable instruments as Administrative Agent shall reasonably request in order to evidence the full subordination of the Lease to the lien of the Mortgage and otherwise effectuate the provisions of this
Agreement. 
 12. From and after payment in full of the loan secured by the Mortgage and the recordation of a release or
satisfaction thereof, without the transfer of the Property to Administrative Agent or the Lenders as a Purchaser, this Agreement shall become void and of no further force or effect. 

13. The term “Administrative Agent” as used herein shall include the successors and assigns of Administrative Agent and any
person, party or entity which shall become the owner of the Property by reason of foreclosure of the Mortgage or the acceptance of a deed in lieu of a foreclosure of the Mortgage or otherwise. The term “Lenders” as used herein shall mean
and include the present Lenders under the Construction Loan Agreement and any such Lender’s successors and assigns. The term “Landlord” as used herein shall mean and include the present landlord under the Lease and such
landlord’s predecessors and successors in interest under the Lease. The term “Property” as used herein shall mean the Property, the improvements now or hereafter located thereon and the estates therein encumbered by the Mortgage.

 14. The agreements herein contained shall be binding upon and shall inure to the benefit of the parties hereto, their
respective participants, successors, and assigns, and, without limiting such, the agreements of Administrative Agent shall specifically be binding upon any Purchaser of the Property at foreclosure or at a sale under power. 

15. This Agreement may not be modified other than by an agreement in writing signed by the parties hereto or their respective successors.

 16. This Agreement may be signed in counterparts, all of which taken together shall constitute one and the same instrument,
and each of the parties hereto may execute this Agreement by signing any such counterpart. 

  
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 Exhibit L 

 17. If any term or provision of this Agreement shall to any extent be held invalid or
unenforceable, the remaining terms and provisions hereof shall not be affected thereby, but each term and provision hereof shall be valid and enforceable to the fullest extent permitted by law. 

18. All notices, demands or requests, and responses thereto, required or permitted to be given pursuant to this Agreement shall be in
writing and shall be deemed to have been sufficiently given or served for all purposes when sent by certified or registered mail, postage prepaid, return receipt requested, or nationwide commercial courier service, and addressed to the party as
provided below or at such other place as such party may from time to time designate in a notice to the other parties. Any notice shall be effective three (3) business days after the letter transmitting such notice is certified or registered and
deposited in the United States Mail, or, if delivery is by nationwide commercial courier service, one (1) business day after the letter transmitting such notice is delivered to such commercial courier service. Rejection or other refusal to
accept or inability to deliver because of changed address of which no notice has been given shall constitute receipt of the notice, demand or request sent. Any such notice if given to Administrative Agent shall be addressed as follows: 

The Bank of New York Mellon, as Administrative Agent 

One Wall Street – 18th Floor 
 New York, New York 10286 
 Attention:  Sandra Scaglione 

with copies to: 

The Bank of New York Mellon, as Administrative Agent 

One Wall Street – 21st Floor 
 New York, New York 10286 
 Attention:     Kenneth McDonnell

                     Vice
President 
 and to: 
 Emmet, Marvin & Martin, LLP 
 120 Broadway 

New York, New York 10271 
 Attention: John P. Uehlinger, Esq. 
 If given to Tenant shall be addressed as
follows: 
 Brightcove Inc. 

  
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 Exhibit L 

 Atlantic Wharf 
 Waterfront Office Building 
 290 Atlantic Avenue 

Boston, Massachusetts 02110 
 Attention: General Counsel 
 And to: 

Goodwin Procter LLP 
 Exchange Place 
 Boston, Massachusetts 02109 

Attention: William J. Schnoor, Jr., Esq. 
 If given to Landlord shall be addressed as follows: 
 BP Russia
Wharf LLC 
 c/o Boston Properties Limited Partnership 
 800 Boylston Street 
 Boston, Massachusetts 02199-8103 

Attention:
                             
 19. This Agreement shall be governed by and construed according to the laws of the Commonwealth of Massachusetts (without regard to conflict of law provisions thereof). 

(balance of page left intentionally blank) 

  
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 Exhibit L 

 IN WITNESS WHEREOF, Tenant, Landlord and Administrative Agent have caused this Agreement to
be executed as of the day and year first above written. 
 TENANT: 

BRIGHTCOVE INC. 
  

			
	By:	 	  

		 	Name:
		 	Title:

 ADMINISTRATIVE AGENT: 

THE BANK OF NEW YORK MELLON, as Administrative Agent 

 

			
	By:	 	  

		 	Name: Kenneth McDonnell
		 	Title: Vice President

 LANDLORD: 
 BP RUSSIA WHARF LLC, a Delaware limited liability company 
  

	 	By:	Boston Properties Limited Partnership, a Delaware limited partnership, its Sole Member and Manager 

 

	 	By:	Boston Properties, Inc., a Delaware corporation, its Sole General Partner 

 

			
		
	By:	 	  

		 	Name:
		 	Title:

  
 Page 8

 Exhibit L 

 COMMONWEALTH OF MASSACHUSETTS 

 

					
	                             
                            ss.	  		  	                             
                            11

 Before me, the undersigned Notary Public, personally appeared
                                         
       , as
                                         
        of Brightcove, Inc. proved to me through satisfactory evidence of identification, which was  ̈ photographic identification with signature issued by a
federal or state government agency,  ̈ oath or affirmation of a credible witness,  ̈ personal knowledge of the undersigned, to be the person whose name is
signed on the preceding or attached document(s), and who swore or affirmed to me that the contents of the document(s) are truthful and accurate to the best of the signatory’s knowledge and belief, and acknowledged the foregoing to be the
signatory’s free act and deed and the free act and deed of Brightcove, Inc. 
  

	
	  

	 Notary Public
 My Commission
Expires:

 COMMONWEALTH OF MASSACHUSETTS 

 

					
	                             
                            ss.	  		  	                             
                            11

 Before me, the undersigned Notary Public, personally appeared Kenneth McDonnell of The Bank of New York Mellon in its
capacity as Administrative Agent as aforesaid, proved to me through satisfactory evidence of identification, which was  ̈ photographic identification with signature issued by a federal or state
government agency,  ̈ oath or affirmation of a credible witness,  ̈ personal knowledge of the undersigned, to be the person whose name is signed on the
preceding or attached document(s), and who swore or affirmed to me that the contents of the document(s) are truthful and accurate to the best of the signatory’s knowledge and belief, and acknowledged the foregoing to be the signatory’s
free act and deed and the free act and deed of The Bank of New York Mellon in its capacity as Administrative Agent as aforesaid. 
  

	
	  

	 Notary Public
 My Commission
Expires:

  
 Page 9

 Exhibit L 

 COMMONWEALTH OF MASSACHUSETTS 

 

					
	                             
                            ss.	  		  	                             
                            11

 Before me, the undersigned Notary Public, personally appeared
                                         
       , as
                                         
        of Boston Properties, Inc. in it capacity as the sole general partner of Boston Properties Limited Partnership in its capacity as sole member and manager of BP Russia Wharf LLC proved to me through
satisfactory evidence of identification, which was  ̈ photographic identification with signature issued by a federal or state government agency,  ̈ oath or
affirmation of a credible witness,  ̈ personal knowledge of the undersigned, to be the person whose name is signed on the preceding or attached document(s), and who swore or affirmed to me that the
contents of the document(s) are truthful and accurate to the best of the signatory’s knowledge and belief, and acknowledged the foregoing to be the signatory’s free act and deed and the free act and deed of Boston Properties, Inc. in it
capacity as the sole general partner of Boston Properties Limited Partnership in its capacity as sole member and manager of BP Russia Wharf LLC. 
  

	
	  

	 Notary Public
 My Commission
Expires:

  
 Page 10

 Exhibit L 

 EXHIBIT A 

  
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 Exhibit L 

 EXHIBIT M 
 OPERATING EXPENSE EXCLUSIONS 
 The following costs and expenses shall be excluded from
Operating Expenses: 
 (1) real estate taxes payable pursuant to Section 6.1; 

(2) principal or interest on indebtedness, debt amortization or ground rent paid by Landlord in connection with any mortgages, deeds of
trust or other financing encumbrances, or ground leases of the Building or the Site; 
 (3) All capital expenditures and
depreciation, including all costs that under generally accepted accounting principles are properly classified as capital expenses, capital improvements or capital repairs, except as otherwise explicitly provided in this Lease with respect to
Permitted Capital Expenditures; 
 (4) legal, auditing, consulting and professional fees and other costs paid or incurred in
connection with financings, refinancings or sales of any interest in Landlord or of Landlord’s interest in the Building or the Site or in connection with any ground lease (including, without limitation, recording costs, mortgage recording
taxes, title insurance premiums and other similar costs, but excluding those legal, auditing, consulting and professional fees and other costs incurred in connection with the normal and routine maintenance and operation of the Building and/or the
Site); 
 (5) legal fees, space planner’s fees, architect’s fees, leasing and brokerage commissions, advertising and
promotional expenditures and any other marketing expense incurred in connection with the leasing of space in the Building (including new leases, lease amendments, lease terminations and lease renewals); 

(6) the cost of any items to the extent to which such cost is reimbursable to Landlord by tenants of the Building and/or Atlantic Wharf
(other than through operating cost escalation or pass-through provisions similar to Article VII of the Lease); the cost of any other items which is actually reimbursed to Landlord by other third parties; and the cost of any other items which is
covered by a warranty to the extent of actual reimbursement for such coverage; 
 (7) expenditures for any leasehold improvement
which is made in connection with the preparation of any portion of the Building for occupancy by any tenant or which is not made generally to or for the benefit of the Building or the Site; 

(8) the cost of performing work or furnishing service to or for any tenant other than Tenant, at Landlord’s expense, to the extent
such work or service is in excess of any work or service Landlord is obligated to provide to Tenant or generally to other tenants in 

  
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 Exhibit M 

 
the Building at Landlord’s expense, and any amounts billed or billable to Tenant or any other tenant for any services furnished to Tenant or any other tenant by Landlord or Landlord’s
agents or contractors for which a separate charge is made, including, without limitation, the supply of overtime air-conditioning, ventilation and heating, and above-standard cleaning services; 

(9) the cost of repairs or replacements incurred by reason of fire or other casualty, or condemnation (other than costs not in excess of
the Maximum Deductible, as hereinafter defined, on any insurance maintained by Landlord which provides a recovery for such repair or replacement), to the extent Landlord actually receives proceeds of property and casualty insurance policies or
condemnation awards or would have received such proceeds had Landlord maintained the insurance required to be maintained by Landlord under this Lease. For the purposes of this Lease, “Maximum Deductible” shall mean One
Hundred Thousand Dollars ($100,000) on a per occurrence basis, increased on an annual basis as of each anniversary of the Commencement Date of this Lease by the corresponding percentage increase in CPI for the immediately preceding twelve (12)
month period. 
 (10) the cost of acquiring sculptures, paintings or other objects of fine art in the Building in excess of
amounts typically spent for such items in Class A office buildings of comparable quality in the competitive area of the Building; 
 (11) bad debt loss, rent loss, or reserves for bad debt or rent loss; 
 (12)
contributions to operating expense reserves or reserves of any kind; 
 (13) contributions to charitable or political
organizations in excess of amounts typically spent for such contributions in Class A office buildings of comparable quality in the competitive area of the Building; 
 (14) expenses related solely and exclusively to the operation of the Garage, the Retail Unit or the Russia Building; 
 (15) damage and repairs necessitated by the gross negligence or willful misconduct of Landlord Parties; 
 (16) fees, costs and expenses incurred by Landlord in connection with or relating to claims against or disputes with tenants of the Building; 

(17) interest, fines or penalties for late payment or violations of Legal Requirements by Landlord if any, except to the extent incurring
such expense is either (a) a reasonable business expense under the circumstances or (b) caused by a corresponding late payment or violation of a Legal Requirement by Tenant, in which event Tenant shall be responsible for the full amount of
such expense; 

  
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 Exhibit M 

 (18) costs to clean-up, contain, encapsulate, abate, remove or remediate “Hazardous
Materials” (as that term is defined in Section 11.2 below) in the Building or on the Site required by “Hazardous Materials Laws” (as that term is defined in Section 11.2 below), provided, however, that the provisions of this
clause shall not preclude the inclusion of costs with respect to materials (whether existing at the Property as of the date of this Lease or subsequently introduced to the Property) which are not as of the date of this Lease (or as of the date of
introduction) deemed to be Hazardous Materials under applicable Hazardous Materials Laws but which are subsequently deemed to be Hazardous Materials under applicable Hazardous Materials Laws (it being understood and agreed that Tenant shall
nonetheless be responsible under Section 11.2 of this Lease for all costs of remediation and removal of Hazardous Materials to the extent caused by Tenant Parties); 
 (19) costs of replacements, alterations or improvements necessary to make the Building or Atlantic Wharf comply with Legal Requirements in effect and applicable to the Building and/or Atlantic Wharf
following Landlord’s Substantial Completion of Landlord’s Work, except to the extent the need for such replacements, alterations or improvements is caused by Tenant Parties (in which case Tenant shall nonetheless be responsible for such
costs in accordance with Section 11.9 of this Lease), provided, however, that the provisions of this clause shall not preclude the inclusion of costs of compliance with Legal Requirements enacted prior to the date of this Lease if such
compliance is required for the first time by reason of any amendment, modification or reinterpretation of a Legal Requirement which is imposed after the date of this Lease; 
 (20) costs for the original construction and development of the Building and/or Atlantic Wharf and nonrecurring costs for the repair or replacement of any structural portion of the Building and/or
Atlantic Wharf made necessary as a result of defects in the original design, workmanship or materials; 
 (21) costs and
expenses incurred for the administration of the entity which constitutes Landlord, as the same are distinguished from the costs of operation, management, maintenance and repair of the Property, including, without limitation, entity accounting and
legal matters; 
 (22) salaries and all other compensation (including fringe benefits) of partners, officers and executives
above the grade of regional property manager; 
 (23) the wages and benefits of any employee who does not devote substantially
all of his or her employed time to the Property unless such wages and benefits are prorated on a reasonable basis to reflect time spent on the operation and management of the Property vis-à-vis time spent on matters unrelated to the operation
and management of the Property; 

  
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 Exhibit M 

 (24) except as may be otherwise expressly provided in this Lease with respect to specific
items, the cost of any services or materials provided by any party related to Landlord, to the extent such cost exceeds, the reasonable cost for such services or materials absent such relationship in self-managed buildings similar to the Building in
the vicinity of the Building; 
 (25) depreciation for the Building except as otherwise provided in Section 7.4(j) of the
Lease; 
 (26) Payments for rented equipment, the cost of which equipment would constitute a capital expenditure if the
equipment were purchased to the extent that such payments exceed the amount which could have been included in Landlord’s Operating Expenses had Landlord purchased such equipment rather than leasing such equipment; 

(27) Penalties, damages, and interest for late payment or violations of any obligations of Landlord, including, without limitation,
taxes, Legal Requirements, insurance, equipment leases and other past due amounts; 
 (28) The costs of new services or
substantial increases in existing services (such as a substantial increase in security services) to the extent such new or increased level of services are instituted solely as the result of the presence of a particular occupant of the Building, such
as for example, the costs of providing additional security services due to threats against or at the request of a particular occupant of the Building; 
 (29) Costs in connection with acquiring additional land or development rights or of constructing any additional buildings within Atlantic Wharf ; 

(30) Costs of mitigation or impact fees or subsidies imposed or incurred in connection with the initial construction of the Building; and

 (31) Costs incurred solely in connection with the operation of any retail or restaurant operations for the Building,
including without limitation, any operating subsidy for any cafeteria. 

  
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 Exhibit M 

 EXHIBIT N 
 ELEVATION FOR TENANT’S PERMITTED STREET SIGNAGE 
 

 

  
 Page 1

 Exhibit NLoan and Security Agreement dated March 30, 2011, Silicon Valley Bank

 Exhibit 10.8 
 LOAN AND SECURITY AGREEMENT 
 This LOAN AND SECURITY AGREEMENT (this
“Agreement”) dated as of March 30, 2011 (the “Effective Date”) is between SILICON VALLEY BANK, a California corporation (“Bank”), and BRIGHTCOVE INC., a Delaware corporation
(“Borrower”), and provides the terms on which Bank shall lend to Borrower, and Borrower shall repay Bank. The parties agree as follows: 
  

	 	1	ACCOUNTING AND OTHER TERMS 

Accounting terms not defined in this Agreement shall be construed following GAAP. Calculations and determinations must be made following
GAAP; provided that if at any time any change in GAAP would affect the computation of any financial ratio or requirement set forth in any Loan Document, and either Borrower or Bank shall so request, Borrower and Bank shall negotiate in good
faith to amend such ratio or requirement to preserve the original intent thereof in light of such change in GAAP; provided, further, that, until so amended, (a) such ratio or requirement shall continue to be computed in accordance with
GAAP prior to such change therein and (b) Borrower shall provide Bank financial statements and other documents required under this Agreement or as reasonably requested hereunder setting forth a reconciliation between calculations of such ratio
or requirement made before and after giving effect to such change in GAAP. Notwithstanding the foregoing, all financial calculations (whether for pricing covenants, or otherwise) shall be made with regard to Borrower only and not on a
consolidated basis. The term “financial statements” includes the notes and schedules. Capitalized terms not otherwise defined in this Agreement shall have the meanings set forth in Section 13 of this Agreement. All other terms
contained in this Agreement, unless otherwise indicated, shall have the meanings provided by the Code to the extent such terms are defined therein. 
  

	 	2	LOAN AND TERMS OF PAYMENT 

2.1 Promise to Pay. Borrower hereby unconditionally promises to pay Bank the outstanding principal amount of all Credit Extensions
and accrued and unpaid interest thereon together with any fees and Finance Charges as and when due in accordance with this Agreement. 
 2.1.1 Financing of Accounts 
 (a) Availability.

 (i) Subject to the terms of this Agreement and provided that Borrower is not Streamline Facility Eligible,
Borrower may request that Bank finance specific Eligible Accounts. Bank may, in its good faith business discretion, finance such Eligible Accounts by extending credit to Borrower in an amount equal to the result of the Advance Rate multiplied by the
face amount of the Eligible Account. Bank may, in its sole discretion, change the percentage of the Advance Rate for a particular Eligible Account on a case by case basis upon notice to Borrower. 

(ii) Subject to the terms of this Agreement and provided that Borrower is Streamline Facility Eligible, Borrower may
request that Bank finance Eligible Accounts on an aggregate basis (the “Aggregate Eligible Accounts”). Bank may, in its good faith business discretion, finance Aggregate Eligible Accounts by extending credit to Borrower in an amount equal
to the result of the Advance Rate multiplied by the face amount of the Aggregate Eligible Accounts. Bank may, in its good faith business discretion, change the percentage of the Advance Rate and/or Borrowing Base for the Aggregate Eligible Accounts
on a case by case basis upon notice to Borrower. 
 (iii) Any extension of credit made pursuant to the terms of
subsections (i) or (ii) above shall hereinafter be referred to as an “Advance”, and, collectively, the “Advances”. When Bank makes an Advance, the Eligible Account or the Aggregate Eligible Accounts each become a
separate “Financed Receivable”. 

  
 1 

 (b) Maximum Advances; Sublimit. 

(i) The aggregate face amount of all Financed Receivables outstanding at any time may not exceed the Facility Amount. In
addition and notwithstanding the foregoing, (A) the aggregate amount of Advances outstanding at any time may not exceed Eight Million Dollars ($8,000,000.00), and (B) while Borrower is Streamline Facility Eligible, the aggregate amount of
(1) Advances outstanding hereunder, plus (2) the Dollar Equivalent amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve) issued pursuant to Section 2.1.2 that is
not cash secured pursuant to Section 2.1.2, plus (3) the portion of the FX Reduction Amount based on FX Forward Contracts that is not cash secured pursuant to Section 2.1.3, plus (4) the sum of amounts utilized for Cash
Management Services pursuant to Section 2.1.4 that are not cash secured pursuant to Section 2.1.4, may not exceed at any time the Availability Amount. 
 (ii) The sum of (A) the aggregate amount of the Dollar Equivalent amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve) issued
pursuant to Section 2.1.2, plus (B) the FX Reduction Amount, plus (C) the sum of amounts utilized for Cash Management Services pursuant to Section 2.1.4, may not exceed Two Million Five Hundred Thousand Dollars ($2,500,000.00) in
the aggregate at any time. 
 (iii) If, at any time, amounts outstanding exceed the amounts set forth in this
Section 2.1.1(b), Borrower shall immediately pay to Bank in cash such excess amount, and Borrower hereby irrevocably authorizes Bank to debit any of its accounts maintained with Bank or any of Bank’s Affiliates (other than accounts
designated solely for, and used exclusively for, payroll) in connection therewith. 
 (c) Borrowing
Procedure. Borrower will deliver an Advance Request and Invoice Transmittal in the form attached hereto as Exhibit C signed by a Responsible Officer for each Credit Extension it requests, accompanied by (i) an accounts
receivable aging and a Borrowing Base Certificate in the form attached hereto as Exhibit D, with respect to requests for Credit Extensions while Borrower is Streamline Facility Eligible, or (ii) by invoices, with respect to
requests for Advances while Borrower is not Streamline Facility Eligible. Bank may rely on information set forth in or provided with the Advance Request and Invoice Transmittal. In addition, upon Bank’s request, Borrower shall deliver to Bank
any contracts, purchase orders, or other underlying supporting documentation with respect to any Eligible Account or Aggregate Eligible Accounts. 
 (d) Credit Quality; Confirmations. Bank may, at its option, conduct a credit check of the Account Debtor for each Account requested by Borrower for financing hereunder to approve any such Account
Debtor’s credit before agreeing to finance such Account. Bank may also verify directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts (including confirmations of Borrower’s
representations in Section 5.3 of this Agreement) by means of mail, telephone or otherwise, either in the name of Borrower or Bank from time to time in its sole discretion; provided, however, prior to the occurrence and continuance of an Event
of Default, Bank will notify Borrower prior to making any direct contact with Borrower’s Account Debtors. 

(e) Accounts Notification/Collection. Bank may notify any Account Debtor of Bank’s security interest in the
Borrower’s Accounts and verify and/or collect them; provided, however, prior to the occurrence and continuance of an Event of Default, Bank will notify Borrower prior to making any direct contact with Borrower’s Account Debtors.

 (f) Early Termination. This Agreement may be terminated prior to the Maturity Date as follows:
(i) by Borrower, effective three (3) Business Days after written notice of termination is given to Bank; or (ii) by Bank at any time after the occurrence and during the continuance of an Event of Default, without notice, effective
immediately. 
 (g) Maturity. This Agreement shall terminate and all Obligations outstanding hereunder
shall be immediately due and payable in full on the Maturity Date. 

  
 2 

 (h) Suspension of Credit Extensions. Borrower’s ability to
request that Bank make Credit Extensions hereunder will terminate if, in Bank’s good faith business discretion, there has been a material adverse change in the general affairs, management, results of operation, condition (financial or
otherwise) or the prospect of repayment of the Obligations when due, or there has been any material adverse deviation by Borrower from the most recent business plan of Borrower presented to and accepted by Bank prior to the Effective Date.

 (i) End of Streamline Facility Eligible Status. On any day that Borrower ceases to be Streamline
Facility Eligible, (i) all outstanding Advances made based on Aggregate Eligible Accounts shall be immediately due and payable, together with all Finance Charges accrued thereon, and (ii) all amounts outstanding and/or utilized pursuant to
Sections 2.1.2, 2.1.3 and 2.1.4 that are not already cash secured pursuant to Sections 2.1.2, 2.1.3 and 2.1.4, respectively, shall immediately be cash secured pursuant to the terms of Sections 2.1.2, 2.1.3 and/or 2.1.4, as applicable. Provided no
Event of Default then exists hereunder and subject to the terms of this Agreement, Bank may, in its good faith business discretion, refinance the outstanding principal amount of such Advances with new Advances made based on specific Eligible
Accounts (in accordance with this Agreement, including, without limitation, Section 2.1.1 hereof). In connection with same, Borrower shall deliver to Bank an Advance Request and Invoice Transmittal in the form attached hereto as Exhibit
C containing detailed invoice reporting, signed by a Responsible Officer, together with a current accounts receivable aging and a copy of each invoice, all in accordance with Section 6.2(h) hereof and Bank may, in its good faith
business discretion, finance same (in accordance with this Agreement, including, without limitation, Section 2.1.1 hereof) and each Eligible Account financed shall thereafter be deemed to be a Financed Receivable for purposes of this Agreement.
If, following such determination, the outstanding principal amount of the Obligations in connection with Advances made pursuant to Section 2.1.1 exceeds the amount of Advances Bank has agreed to make based on specific Eligible Accounts,
Borrower shall immediately pay to Bank the excess and, in connection with same, hereby irrevocably authorizes Bank to debit any account of Borrower maintained by Borrower with Bank or any of Bank’s Affiliates (other than accounts designated
solely for, and used exclusively for, payroll) for the amount of such excess. 
 (j) Commencement of
Streamline Facility Eligible Status. On any day that Borrower becomes Streamline Facility Eligible, all outstanding Advances made based on Eligible Accounts shall be immediately due and payable, together with all Finance Charges and Collateral
Handling Fees accrued thereon. Provided no Event of Default then exists hereunder and subject to the terms of this Agreement, Bank may, in its good faith business discretion, refinance such Advances with new Advances made based on Aggregate Eligible
Accounts (in accordance with this Agreement, including, without limitation, Section 2.1.1 hereof). In connection with such request, Borrower shall deliver to Bank (i) an Advance Request and Invoice Transmittal in the form attached hereto
as Exhibit C containing a current accounts receivable aging, and (ii) a Borrowing Base Certificate in the form attached hereto as Exhibit D, and Bank may, in its good faith business discretion, refinance the
outstanding principal amount of such Advances with new Advances made based on Aggregate Eligible Accounts (in accordance with this Agreement, including, without limitation, Section 2.1.1 hereof) and the Aggregate Eligible Accounts financed
shall thereafter be deemed to be a Financed Receivable for purposes of this Agreement. If, following such determination, the outstanding principal amount of the Obligations in connection with Advances made pursuant to Section 2.1.1 exceeds the
amount of Advances Bank has agreed to make based on Aggregate Eligible Accounts, Borrower shall immediately pay to Bank the excess and, in connection with same, hereby irrevocably authorizes Bank to debit any account of Borrower maintained by
Borrower with Bank or any of Bank’s Affiliates (other than accounts designated solely for, and used exclusively for, payroll) for the amount of such excess. 
 2.1.2 Letters of Credit. 
 (a) For so long as
Borrower is Streamline Facility Eligible, upon Borrower’s request, Bank may, in its good faith business discretion, issue or have issued Letters of Credit denominated in Dollars or a Foreign Currency for Borrower’s account. The aggregate
Dollar Equivalent amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letters of Credit Reserve) may not exceed the amounts set forth in Section 2.1.1(b) above. Any such aggregate amounts utilized
hereunder, to the extent not cash secured as set forth herein, shall reduce the amount otherwise available for Credit Extensions hereunder. If, on the Maturity Date, and immediately when Borrower is no longer Streamline Facility Eligible, there are
any outstanding Letters of Credit, then on such date Borrower shall provide to Bank cash collateral in an amount equal to (i) with respect to Letters of Credit denominated in Dollars, one hundred and five percent (105.0%), and (ii) with
respect to Letters of Credit denominated in a currency other than Dollars, one hundred ten percent (110.0%), of the Dollar Equivalent amount of all such Letters of Credit plus all interest, fees, and costs due or to become due in connection
therewith 

  
 3 

 
(as estimated by Bank in its good faith business judgment), to secure all of the Obligations relating to such Letters of Credit. After Borrower ceases to be Streamline Facility Eligible, Borrower
shall continue to maintain such cash collateral as contemplated by the prior sentence until Bank agrees in writing otherwise, in its sole and absolute discretion (and regardless of whether Borrower subsequently becomes Streamline Facility Eligible).
All Letters of Credit shall be in form and substance acceptable to Bank in its sole discretion and shall be subject to the terms and conditions of Bank’s standard Application and Letter of Credit Agreement (the “Letter of Credit
Application”). Borrower agrees to execute any further documentation in connection with the Letters of Credit as Bank may reasonably request. Borrower further agrees to be bound by the regulations and interpretations of the issuer of any Letters
of Credit guaranteed by Bank and opened for Borrower’s account or by Bank’s interpretations of any Letters of Credit issued by Bank for Borrower’s account, and Borrower understands and agrees that Bank shall not be liable for any
error, negligence, or mistake, whether of omission or commission, in following Borrower’s instructions or those contained in the Letters of Credit or any modifications, amendments, or supplements thereto, except for errors or mistakes directly
resulting from Bank’s gross negligence or willful misconduct. 
 (b) The obligation of Borrower to
immediately reimburse Bank for drawings made under Letters of Credit shall be absolute, unconditional, and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement, such Letters of Credit, and the Letter of Credit
Application. 
 (c) Borrower may request that Bank issue a Letter of Credit payable in a Foreign Currency. If a
demand for payment is made under any such Letters of Credit, Bank shall treat such demand as an Advance to Borrower of the equivalent of the amount thereof (plus fees and charges in connection therewith such as wire, cable, SWIFT or similar charges)
in Dollars at the then-prevailing rate of exchange in San Francisco, California, for sales of the Foreign Currency for transfer to the country issuing such Foreign Currency. 

(d) To guard against fluctuations in currency exchange rates, upon the issuance of any Letters of Credit payable in a
Foreign Currency, Bank shall create a reserve (the “Letter of Credit Reserve”) in an amount equal to ten percent (10.0%) of the Dollar Equivalent amount of such Letters of Credit. The amount of the Letter of Credit Reserve may be
adjusted by Bank from time to time to account for fluctuations in the exchange rate. 
 (e) Borrower shall pay
Bank’s customary fees and expenses for the issuance or renewal of Letters of Credit, upon the issuance of such Letter of Credit, each anniversary of the issuance during the term of such Letter of Credit, and upon the renewal of such Letter of
Credit by Bank. 
 2.1.3 Foreign Exchange Sublimit. For so long as Borrower is Streamline Facility Eligible, upon
Borrower’s request, Bank may, in its good faith business discretion, permit Borrower to use a portion of its availability hereunder (which amount is set forth in Section 2.1.1(b)) to enter into foreign exchange contracts with Bank under
which Borrower commits to purchase from or sell to Bank a specific amount of Foreign Currency (each, a “FX Forward Contract”) on a specified date (the “Settlement Date”). FX Forward Contracts shall have a Settlement
Date of at least one (1) FX Business Day after the contract date and shall be subject to a reserve of ten percent (10.0%) of each outstanding FX Forward Contract. The amount otherwise available for Credit Extensions hereunder shall be
reduced by an amount equal to ten percent (10.0%) of each outstanding FX Forward Contract (the “FX Reduction Amount”). Any amounts needed to fully reimburse Bank for any amounts not paid by Borrower in connection with FX
Forward Contracts will be treated as Advances made based on Aggregate Eligible Accounts and will accrue interest at the interest rate applicable to Advances made based upon Aggregate Eligible Accounts. If, on the Maturity Date, and immediately when
Borrower is no longer Streamline Facility Eligible, there are any outstanding FX Forward Contracts, then on such date Borrower shall provide to Bank cash collateral in an amount consistent with Bank’s current foreign exchange contracts policies
to secure all of the Obligations relating to such FX Forward Contracts. After Borrower ceases to be Streamline Facility Eligible, Borrower shall continue to maintain such cash collateral as contemplated by the prior sentence until Bank agrees in
writing otherwise, in its sole and absolute discretion (and regardless of whether Borrower subsequently becomes Streamline Facility Eligible). 
 2.1.4 Cash Management Services Sublimit. For so long as Borrower is Streamline Facility Eligible, upon Borrower’s request, Bank may, in its good faith business discretion, permit
Borrower to use a portion of its availability hereunder (which amount is set forth in Section 2.1.1(b)) for Bank’s cash management services, which may include merchant services, direct deposit of payroll, business credit card, and check
cashing services identified in Bank’s various cash management services agreements (collectively, the “Cash Management Services”). Any amounts Bank pays on behalf of Borrower for any Cash Management Services shall reduce the amount
otherwise 

  
 4 

 
available for Credit Extensions hereunder. If, on the Maturity Date, and immediately when Borrower is no longer Streamline Facility Eligible, there are any outstanding Cash Management Services,
then on such date Borrower shall provide to Bank cash collateral in an amount consistent with Bank’s current cash management services policies to secure all of the Obligations relating to such Cash Management Services. After Borrower ceases to
be Streamline Facility Eligible, Borrower shall continue to maintain such cash collateral as contemplated by the prior sentence until Bank agrees in writing otherwise, in its sole and absolute discretion (and regardless of whether Borrower
subsequently becomes Streamline Facility Eligible). 
 2.2 Collections, Finance Charges, Remittances and Fees. The
Obligations shall be subject to the following fees and Finance Charges. Unpaid fees and Finance Charges may, in Bank’s discretion, accrue interest at the then highest rate applicable to the Obligations. 

2.3 Collections. Collections will be credited to the Financed Receivable Balance for such Financed Receivable, but if there is an
Event of Default, Bank may apply Collections to the Obligations in any order it chooses. If Bank receives a payment for both a Financed Receivable and a non-Financed Receivable, the funds will first be applied to the Financed Receivable and, if
there is no Event of Default then existing, the excess will be remitted to Borrower, subject to Section 2.9 of this Agreement. 
 2.4 Loan Fee. A fully earned, non-refundable loan fee of Twenty Thousand Dollars ($20,000.00) is due upon the Effective Date (the “Loan Fee”). 

2.5 Finance Charges. In computing Finance Charges on the Obligations under this Agreement, all Collections received by Bank shall
be deemed applied by Bank on account of the Obligations on the day of receipt of the Collections. Borrower will pay a finance charge (the “Finance Charge”) on the Financed Receivable Balance or Account Balance (as applicable)
which is equal to the Applicable Rate divided by 360 multiplied by the number of days each such Financed Receivable is outstanding multiplied by (a) with respect to Financed Receivables based on Eligible Accounts,
the outstanding Financed Receivable Balance of such Financed Receivable, and (b) with respect to Financed Receivables based on Aggregate Eligible Accounts, the outstanding Account Balance. Except as otherwise provided in Section 2.1.1(i),
Section 2.1.1(j) and/or Section 2.11.1(b)(i), the Finance Charge is payable when the Advance made based on such Financed Receivable is due and payable in accordance with Section 2.11 of this Agreement. Immediately upon the occurrence
and during the continuance of an Event of Default, the Applicable Rate will increase to the Default Rate. 
 2.6 Collateral
Handling Fee. With respect to Financed Receivables based upon Eligible Accounts, Borrower will pay to Bank a collateral handling fee equal to 0.10% per Reconciliation Period of the Financed Receivable Balance for each such Financed
Receivable outstanding based upon a 360 day year (the “Collateral Handling Fee”). The Collateral Handling Fee is charged on a daily basis and is equal to the Collateral Handling Fee divided by 30, multiplied by the number of
days each such Financed Receivable is outstanding, multiplied by the outstanding Financed Receivable Balance. Except as otherwise provided in Section 2.1.1(j), the Collateral Handling Fee is payable when the Advance made based on such
Financed Receivable is payable in accordance with Section 2.11 of this Agreement. In computing Collateral Handling Fees under this Agreement, all Collections received by Bank shall be deemed applied by Bank on account of Obligations on the
day of receipt of the Collections. Immediately upon the occurrence and during the continuance of an Event of Default, the Collateral Handling Fee will increase an additional 0.50%. 

2.7 Accounting. After each Reconciliation Period, Bank will provide Borrower with an accounting of the transactions for that
Reconciliation Period, including the amount of all Financed Receivables, all Collections, Adjustments, Finance Charges, Collateral Handling Fees, and the Loan Fee. If Borrower does not object to the accounting in writing within thirty (30) days
it shall be considered accurate. All Finance Charges and other interest and fees are calculated on the basis of a 360 day year and actual days elapsed. 
 2.8 Deductions. Bank may deduct fees, Bank Expenses, Finance Charges, Advances which become due pursuant to Section 2.11 of this Agreement, and other amounts due pursuant to this Agreement
from any Credit Extensions made or Collections received by Bank. 

  
 5 

 2.9 Lockbox; Account Collection Services 

(a) Borrower shall direct each Account Debtor (and each depository institution where proceeds of Accounts are on deposit)
to remit payments with respect to the Accounts to a lockbox account established with Bank or to wire transfer payments to a cash collateral account that Bank controls (collectively, the “Lockbox”). It will be considered an immediate
Event of Default if the Lockbox is not established and operational on the Effective Date and at all times thereafter until such Lockbox is established and operational. 

(b) Upon receipt by Borrower of any proceeds of Accounts, Borrower shall immediately transfer and deliver same to Bank,
along with a detailed cash receipts journal. 
 (c) Provided no Event of Default exists or an event that with
notice or lapse of time will be an Event of Default, within three (3) days of receipt of such amounts by Bank, Bank will turn over to Borrower the proceeds of the Accounts (whether received by Bank in the Lockbox, directly from Borrower, or
otherwise) other than Collections with respect to Financed Receivables based upon Eligible Accounts and the amount of Collections in excess of the amounts for which Bank has made an Advance to Borrower based upon Eligible Accounts, which amounts
shall be used to repay the applicable outstanding Advance(s) and any other amounts due to Bank, such as the Finance Charge, the Loan Fee, Collateral Handling Fee, and Bank Expenses; provided, however, Bank may hold any proceeds of the Accounts
(whether received by Bank in the Lockbox, directly from Borrower, or otherwise and whether or not in respect of Financed Receivables) as a reserve until the end of the applicable Reconciliation Period if Bank, in its discretion, determines that
other Financed Receivable(s) may no longer qualify as an Eligible Account or Aggregate Eligible Accounts at any time prior to the end of the subject Reconciliation Period. 

(d) This Section 2.9 does not impose any affirmative duty on Bank to perform any act other than as specifically set
forth herein. All Accounts and the proceeds thereof are Collateral, and if an Event of Default occurs and is continuing, Bank may, without notice, apply the proceeds of such Accounts to the Obligations. 

2.10 Bank Expenses. Borrower shall pay all Bank Expenses (including reasonable attorneys’ fees and expenses, plus expenses,
for documentation and negotiation of this Agreement) incurred through and after the Effective Date, when due. 
 2.11
Repayment of Obligations; Adjustments 
 2.11.1 Repayment. 

(a) Borrower will repay each Advance made based upon a specific Eligible Account on the earliest of: (i) the date on
which payment is received of the Financed Receivable with respect to which the Advance was made, (ii) the date on which the Financed Receivable is no longer an Eligible Account, (iii) the date on which any Adjustment is asserted to the
Financed Receivable (but only to the extent of the Adjustment if the Financed Receivable otherwise remains an Eligible Account), (iv) the date on which there is a breach of any warranty or representation set forth in Section 5.3 with
respect to such Financed Receivable, (v) as required pursuant to Section 2.1.1(j), or (vi) the Maturity Date (including any early termination). Each payment will also include all accrued Finance Charges and Collateral Handling Fees
with respect to such Advance and all other amounts then due and payable hereunder. 
 (b) With respect to each
Advance made based upon Aggregate Eligible Accounts: 
 (i) Borrower shall pay to Bank, on the first day of each
Reconciliation Period, all accrued Finance Charges on the Advances made based upon the Aggregate Eligible Accounts; and 
 (ii) Borrower will pay the principal amount of the Advances made based upon Aggregate Eligible Accounts on the earliest of: (A) the date on which the aggregate amount of outstanding Advances made
based upon Aggregate Eligible Accounts, plus the Dollar Equivalent amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve) issued pursuant to Section 2.1.2 that is not cash
secured pursuant to Section 2.1.2, plus the portion of the FX Reduction Amount based on FX Forward Contracts that is not cash secured pursuant to 

  
 6 

 
Section 2.1.3, plus the sum of amounts utilized for Cash Management Services pursuant to Section 2.1.4 that are not cash secured pursuant to Section 2.1.4, exceeds the Availability
Amount (but only up to the amount exceeding the Availability Amount), (B) the Maturity Date (including any early termination), or (C) as required pursuant to Section 2.1.1(i). Each payment will also include all accrued Finance Charges
with respect to such Advance and all other amounts then due and payable hereunder. 
 2.11.2 Repayment on Event of
Default. When there is an Event of Default, Borrower will, if Bank demands (or, upon the occurrence of an Event of Default under Section 8.5 of this Agreement, immediately without notice or demand from Bank) repay all of the Obligations.
The demand may, at Bank’s option, include any and all Credit Extensions, and all accrued Finance Charges, interest, Collateral Handling Fees, Bank Expenses and any other Obligations. 

2.11.3 Debit of Accounts. Bank may debit any of Borrower’s deposit accounts (other than accounts designated solely for, and
used exclusively for, payroll) for payments or any amounts Borrower owes Bank hereunder. Bank shall promptly notify Borrower when it debits Borrower’s accounts. These debits shall not constitute a set-off. 

2.12 Power of Attorney. Borrower irrevocably appoints Bank and its successors and assigns as attorney-in-fact and authorizes Bank
and its successor and assigns, to: (a) following the occurrence and during the continuance of an Event of Default, (i) sell, assign, transfer, pledge, compromise, or discharge all or any part of the Financed Receivables; (ii) demand,
collect, sue, and give releases to any Account Debtor for monies due and compromise, prosecute, or defend any action, claim, case or proceeding about the Financed Receivables, including filing a claim or voting a claim in any bankruptcy case in
Bank’s or Borrower’s name, as Bank chooses; and (iii) prepare, file and sign Borrower’s name on any notice, claim, assignment, demand, draft, or notice of or satisfaction of lien or mechanics’ lien or similar document; and
(b) regardless of whether an Event of Default has occurred and is continuing, (i) notify all Account Debtors to pay Bank directly; provided, however, prior to the occurrence and continuance of an Event of Default, Bank will notify Borrower
prior to making any direct contact with an Account Debtor of Borrower; (ii) receive, open, and dispose of mail addressed to Borrower; (iii) endorse Borrower’s name on checks or other instruments (to the extent necessary to pay amounts
owed pursuant to any of the Loan Documents); and (iv) execute on Borrower’s behalf any instruments, documents, financing statements to perfect Bank’s interests in the Financed Receivables and Collateral and do all acts and things
necessary or prudent, as determined solely and exclusively by Bank, to protect or preserve, Bank’s rights and remedies under the Loan Documents, as directed by Bank. 

 

	 	3	CONDITIONS OF LOANS 

3.1 Conditions Precedent to Initial Credit Extension. Bank’s obligation to make the initial Credit Extension is subject to the
condition precedent that Bank shall have received, in form and substance satisfactory to Bank, such documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate, including, without limitation: 

(a) the Loan Documents; 
 (b) the SVB Control Agreement and any other Control Agreements required by Bank; 
 (c) Borrower’s Operating Documents and a good standing certificate of Borrower certified by the Secretary of State of the State of Delaware as of a date no earlier than thirty (30) days prior to
the Effective Date; 
 (d) the completed and executed Borrowing Resolutions for Borrower; 

(e) certified copies, dated as of a recent date, of financing statement searches, as Bank shall request, accompanied by
written evidence (including any UCC termination statements) that the Liens indicated in any such financing statements either constitute Permitted Liens or have been or, in connection with the initial Credit Extension, will be terminated or released;

  
 7 

 (f) the Perfection Certificate of Borrower, together with the duly executed
original signature thereto; 
 (g) a legal opinion of Borrower’s counsel (authority/enforceability), in form
and substance acceptable to Bank; 
 (h) evidence satisfactory to Bank that the insurance policies required by
Section 6.4 of this Agreement are in full force and effect, together with appropriate evidence showing lender loss payable and/or additional insured clauses and cancellation notice to Bank (including certificates on Acord 25 and Acord 28 forms
and endorsements to the policies reflecting the same); 
 (i) the completion of the Initial Audit; 

(j) payment of the fees and Bank Expenses then due as specified in Section 2.10 of this Agreement; and 

(m) Certificates of Foreign Qualification (as applicable). 

3.2 Conditions Precedent to all Credit Extensions. Bank’s agreement to make each Credit Extension, including the initial
Credit Extension, is subject to the following: 
 (a) receipt of the Advance Request and Invoice Transmittal;

 (b) Bank shall have (at its option) conducted the confirmations and verifications as described in
Section 2.1.1(d) of this Agreement; 
 (c) each of the representations and warranties in Section 5.3 of
this Agreement shall be true and accurate on the date of the Advance Request and Invoice Transmittal and on the effective date of each Credit Extension and no Event of Default shall have occurred and be continuing, or result from the Credit
Extension. Each Credit Extension is Borrower’s representation and warranty on that date that the representations and warranties in Section 5.3 of this Agreement are true and accurate; and 

(d) each of the representations and warranties in this Agreement (other than in Section 5.3) shall be true and
accurate in all material respects on the date of the Advance Request and Invoice Transmittal and on the effective date of each Credit Extension and no Event of Default shall have occurred and be continuing, or result from the Credit Extension. Each
Credit Extension is Borrower’s representation and warranty on that date that the representations and warranties in this Agreement (other than in Section 5.3) are true and accurate in all material respects. 

3.3 Covenant to Deliver. Borrower agrees to deliver to Bank each item required to be delivered to Bank under this Agreement as a
condition precedent to any Credit Extension. Borrower expressly agrees that a Credit Extension made prior to the receipt by Bank of any such item shall not constitute a waiver by Bank of Borrower’s obligation to deliver such item, and the
making of any Credit Extension in the absence of a required item shall be in Bank’s sole discretion. 
  

	 	4	CREATION OF SECURITY INTEREST 

 4.1 Grant of Security Interest. Borrower hereby grants Bank, to secure the payment and performance in full of all of the Obligations, a continuing security interest in, and pledges to Bank, the
Collateral, wherever located, whether now owned or hereafter acquired or arising, and all proceeds and products thereof. Borrower represents, warrants, and covenants that the security interest granted herein shall be and shall at all times continue
to be a first priority perfected security interest in the Collateral subject only to Permitted Liens that are permitted to have priority over Bank’s Liens hereunder. If Borrower shall at any time acquire a commercial tort claim, Borrower shall
promptly notify Bank in a writing signed by Borrower of the general details thereof and grant to Bank in such writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and
substance satisfactory to Bank. 

  
 8 

 If this Agreement is terminated, Bank’s Lien in the Collateral shall continue until the
Obligations (other than inchoate indemnity obligations) are repaid in full in cash. Upon payment in full in cash of the Obligations (other than inchoate indemnify obligations) and at such time as this Agreement has been terminated, Bank shall, at
Borrower’s sole cost and expense, release its Liens in the Collateral and all rights therein shall revert to Borrower. 

4.2 Authorization to File Financing Statements. Borrower hereby authorizes Bank to file financing statements, without notice to
Borrower, with all appropriate jurisdictions to perfect or protect Bank’s interest or rights hereunder, including a notice that any disposition of the Collateral, by either Borrower or any other Person, shall be deemed to violate the rights of
Bank under the Code. Any such financing statements may indicate the Collateral as “all assets of the Debtor” or words of similar effect, or as being of an equal or lesser scope, or with greater detail, all in Bank’s discretion.

  

	 	5	REPRESENTATIONS AND WARRANTIES 

 Borrower represents and warrants as follows: 
 5.1 Due Organization and
Authorization. Borrower and each of its Subsidiaries are duly existing and in good standing as Registered Organizations in their respective jurisdictions of formation and are qualified and licensed to do business and are in good standing in any
other jurisdiction in which the conduct of their respective business or ownership of property requires that they be qualified except where the failure to do so could not reasonably be expected to have a material adverse effect on Borrower’s
business. In connection with this Agreement, Borrower has delivered to Bank a completed certificate signed by Borrower, entitled Perfection Certificate (the “Perfection Certificate”). Borrower represents and warrants to Bank that
(a) Borrower’s exact legal name is that indicated on the Perfection Certificate and on the signature page hereof; (b) Borrower is an organization of the type and is organized in the jurisdiction set forth in the Perfection
Certificate; (c) the Perfection Certificate accurately sets forth Borrower’s organizational identification number or accurately states that Borrower has none; (d) the Perfection Certificate accurately sets forth Borrower’s place
of business, or, if more than one, its chief executive office as well as Borrower’s mailing address (if different than its chief executive office); (e) Borrower (and each of its predecessors) has not, in the past five (5) years,
changed its jurisdiction of formation, corporate structure, organizational type, or any organizational number assigned by its jurisdiction; and (f) all other information set forth on the Perfection Certificate pertaining to Borrower and each of
its Subsidiaries is accurate and complete (it being understood and agreed that Borrower may from time to time update certain information in the Perfection Certificate after the Effective Date to the extent permitted by one or more specific
provisions in this Agreement). If Borrower is not now a Registered Organization but later becomes one, Borrower shall promptly notify Bank of such occurrence and provide Bank with Borrower’s organizational identification number. 

The execution, delivery and performance by Borrower of the Loan Documents to which it is a party have been duly authorized, and do not
(i) conflict with any of Borrower’s organizational documents, (ii) contravene, conflict with, constitute a default under or violate any material Requirement of Law, (iii) contravene, conflict or violate any applicable order,
writ, judgment, injunction, decree, determination or award of any Governmental Authority by which Borrower or any of its Subsidiaries or any of their property or assets may be bound or affected, (iv) require any action by, filing, registration,
or qualification by Borrower with, or Governmental Approval from, any Governmental Authority (except such Governmental Approvals which have already been obtained and are in full force and effect), or (v) constitute an event of default under any
material agreement by which Borrower is bound. Borrower is not in default under any agreement to which it is a party or by which it is bound in which the default could reasonably be expected to have a material adverse effect on Borrower’s
business. 
 5.2 Collateral. Borrower has good title to, has rights in, and the power to transfer, each item of the
Collateral upon which it purports to grant a Lien hereunder, free and clear of any and all Liens except Permitted Liens. Borrower has no deposit accounts other than the deposit accounts with Bank, the deposit accounts, if any, described in the
Perfection Certificate delivered to Bank in connection herewith, or of which Borrower has given Bank notice and taken such actions as are necessary to give Bank a perfected security interest therein. The Accounts are bona fide, existing obligations
of the Account Debtors. All Inventory is in all material respects of good and marketable quality, free from material defects. 

  
 9 

 The Collateral is not in the possession of any third party bailee (such as a warehouse)
except as otherwise provided in the Perfection Certificate. None of the components of the Collateral valued in excess of One Hundred Thousand Dollars ($100,000.00) (in the aggregate for all such Collateral at all locations) are currently being
maintained at locations other than as provided in the Perfection Certificate or as permitted pursuant to Section 7.2 of this Agreement. 
 Borrower is the sole owner of the Intellectual Property which it owns or purports to own except for (a) non-exclusive licenses granted to its customers in the ordinary course of business,
(b) over-the-counter software that is commercially available to the public, and (c) material Intellectual Property licensed to Borrower and noted on the Perfection Certificate. Each Patent which it owns or purports to own and which is
material to Borrower’s business is valid and enforceable, and no part of the Intellectual Property which Borrower owns or purports to own and which is material to Borrower’s business has been judged invalid or unenforceable, in whole or in
part. To the best of Borrower’s knowledge, no claim has been made that any part of the Intellectual Property violates the rights of any third party except to the extent such claim would not reasonably be expected to have a material adverse
effect on Borrower’s business. Except as noted on the Perfection Certificate, Borrower is not a party to, nor is it bound by, any Restricted License. 
 5.3 Financed Receivables. Borrower represents and warrants for each Financed Receivable: 
 (a) Such Financed Receivable is an Eligible Account; 
 (b) Borrower
is the owner of and has the legal right to sell, transfer, assign and encumber such Financed Receivable; 
 (c)
The correct amount is on the Advance Request and Invoice Transmittal and is not disputed; 
 (d) Payment is not
contingent on any obligation or contract and Borrower has fulfilled all its obligations as of the Advance Request and Invoice Transmittal date; 
 (e) Such Financed Receivable is based on an actual sale and delivery of goods and/or services rendered, is due to Borrower, is not past due or in default, has not been previously sold, assigned,
transferred, or pledged and is free of any liens, security interests and encumbrances other than Permitted Liens; 
 (f) There are no defenses, offsets, counterclaims or agreements for which the Account Debtor may claim any deduction or discount; 

(g) Borrower reasonably believes no Account Debtor is insolvent or subject to any Insolvency Proceedings; 

(h) Borrower has not filed or had filed against it Insolvency Proceedings and does not anticipate any filing; 

(i) Bank has the right to endorse and/ or require Borrower to endorse all payments received on Financed Receivables and
all proceeds of Collateral; and 
 (j) No representation, warranty or other statement of Borrower in any
certificate or written statement given to Bank in respect of a Financed Receivable contains any untrue statement of a material fact or omits to state a material fact necessary to make the statement contained in the certificates or statement not
misleading in light of the circumstances in which they were made. 
 5.4 Litigation. There are no actions or proceedings
pending or, to the knowledge of Borrower’s Responsible Officers, threatened in writing by or against Borrower or any Subsidiary in which an adverse decision could reasonably be expected to cause a Material Adverse Change. 

5.5 No Material Deviation in Financial Statements and Deterioration in Financial Condition. All consolidated financial statements
for Borrower and its Subsidiary delivered to Bank fairly present in all material respects Borrower’s consolidated financial condition and Borrower’s consolidated results of operations as of the date thereof. There has not been any material
deterioration in Borrower’s consolidated financial condition since the date of the most recent financial statements submitted to Bank. 

  
 10 

 5.6 Solvency. The fair salable value of Borrower’s assets (including goodwill
minus disposition costs) exceeds the fair value of its liabilities; Borrower is not left with unreasonably small capital after the transactions in this Agreement; and Borrower is able to pay its debts (including trade debts) as they mature.

 5.7 Regulatory Compliance. Borrower is not an “investment company” or a company “controlled” by an
“investment company” under the Investment Company Act of 1940, as amended. Borrower is not engaged as one of its important activities in extending credit for margin stock (under Regulations X, T and U of the Federal Reserve Board of
Governors). Neither Borrower nor any of its Subsidiaries is a “holding company” or an “affiliate” of a “holding company” or a “subsidiary company” of a “holding company” as each term is defined and
used in the Public Utility Holding Company Act of 2005. Borrower has complied in all material respects with the Federal Fair Labor Standards Act. Borrower has not violated any laws, ordinances or rules, the violation of which could reasonably be
expected to cause a Material Adverse Change. None of Borrower’s or any Subsidiary’s properties or assets have been used by Borrower or any Subsidiary or, to Borrower’s knowledge, by previous Persons, in disposing, producing, storing,
treating, or transporting any hazardous substance other than legally. Borrower and each of its Subsidiaries have obtained all consents, approvals and authorizations of, made all declarations or filings with, and given all notices to, all
Governmental Authorities that are necessary to continue their respective businesses as currently conducted. 
 5.8
Subsidiaries. Borrower does not own any stock, partnership interest or other equity securities except for Permitted Investments. 
 5.9 Tax Returns and Payments; Pension Contributions. Borrower and each Subsidiary have timely filed all required tax returns and reports, and Borrower and each Subsidiary have timely paid all
foreign, federal, state and local taxes, assessments, deposits and contributions owed by Borrower and each Subsidiary. Borrower may defer payment of any contested taxes, provided that Borrower (a) in good faith contests its obligation to pay
the taxes by appropriate proceedings promptly and diligently instituted and conducted, (b) notifies Bank in writing of the commencement of, and any material development in, the proceedings and (c) posts bonds or takes any other steps
required to prevent the Governmental Authority levying such contested taxes from obtaining a Lien upon any of the Collateral that is other than a “Permitted Lien”. Borrower is unaware of any claims or adjustments proposed for any of
Borrower’s prior tax years which could result in additional taxes becoming due and payable by Borrower. Borrower has paid all amounts necessary to fund all present pension, profit sharing and deferred compensation plans in accordance with their
terms, and Borrower has not withdrawn from participation in, and has not permitted partial or complete termination of, or permitted the occurrence of any other event with respect to, any such plan which could reasonably be expected to result in any
liability of Borrower, including any liability to the Pension Benefit Guaranty Corporation or its successors or any other governmental agency. 
 5.10 Full Disclosure. No written representation, warranty or other statement of Borrower in any certificate or written statement given to Bank in connection with the Loan Documents, as of the date
such representation, warranty, or other statement was made, taken together with all such written certificates and written statements given to Bank, contains any untrue statement of a material fact or omits to state a material fact necessary to make
the statements contained in the certificates or statements not misleading in light of the circumstances in which they were made (it being recognized by Bank that any projections and forecasts provided by Borrower in good faith and based upon
reasonable assumptions are not viewed as facts and that actual results during the period or periods covered by such projections and forecasts may differ from the projected or forecasted results). 

 

	 	6	AFFIRMATIVE COVENANTS 

Borrower shall do all of the following: 
 6.1 Government Compliance 
 (a) Maintain its and all its
Subsidiaries’ legal existence and good standing in their respective jurisdictions of formation and maintain qualification in each jurisdiction in which the failure to so qualify would reasonably be expected to have a material adverse effect on
Borrower’s business or operations. Borrower shall comply, and have each Subsidiary comply, with all laws, ordinances and regulations to which it is subject, noncompliance with which could reasonably be expected to have a material adverse effect
on Borrower’s business. 

  
 11 

 (b) Obtain all of the Governmental Approvals necessary for the performance
by Borrower of its obligations under the Loan Documents to which it is a party and the grant of a security interest to Bank in all of its property. Borrower shall promptly provide copies of any such obtained Governmental Approvals to Bank.

 (c) Deliver to Bank, within five (5) days after the same are sent or received, copies of all
correspondence, reports, documents and other filings with any Governmental Authority regarding compliance with or maintenance of Governmental Approvals or Requirements of Law or that could reasonably be expected to have a material adverse effect on
any of the Governmental Approvals or otherwise on the operations of Borrower or any of its Subsidiaries. 
 6.2 Financial
Statements, Reports, Certificates 
 (a) Deliver to Bank: (i) as soon as available, but no later than
thirty (30) days after the last day of each Reconciliation Period, a company prepared consolidated balance sheet and income statement covering Borrower’s consolidated operations during the period certified by a Responsible Officer and in a
form acceptable to Bank; (ii) as soon as available, but no later than one hundred eighty (180) days after the last day of Borrower’s fiscal year, audited consolidated financial statements prepared under GAAP, consistently applied,
together with an unqualified opinion on the financial statements from an independent certified public accounting firm reasonably acceptable to Bank; (iii) in the event that Borrower becomes subject to the reporting requirements under the
Exchange Act, within five (5) days of filing, copies of all statements, reports and notices made available to Borrower’s security holders or to any holders of Subordinated Debt and all reports on Form 10-K, 10-Q and 8-K filed with the SEC;
(iv) a prompt report of any legal actions pending or threatened against Borrower or any Subsidiary that could result in damages or costs to Borrower or any Subsidiary of One Hundred Thousand Dollars ($100,000.00) or more; (v) as soon as
available, but no later than ten (10) days after approval by Borrower’s board of directors, annual financial projections for the following fiscal year approved by Borrower’s board of directors and commensurate in form and substance
with those provided to Borrower’s venture capital investors, together with any related business forecasts used in the preparation of such annual financial plans and projections; and (vi) budgets, sales projections, operating plans or other
financial information reasonably requested by Bank. 
 (b) Within thirty (30) days after the last day of
each Reconciliation Period, deliver to Bank with the monthly financial statements a Compliance Certificate signed by a Responsible Officer in the form of Exhibit B. 

(c) Allow Bank to inspect the Collateral and audit and copy Borrower’s Books, including, but not limited to,
Borrower’s Accounts, upon reasonable notice to Borrower. Such inspections or audits shall be conducted no more often than once every twelve (12) months unless an Event of Default has occurred and is continuing. The foregoing inspections
and audits shall be at Borrower’s expense. In the event Borrower and Bank schedule an audit more than ten (10) days in advance, and Borrower cancels or seeks to reschedule the audit with less than ten (10) days written notice to Bank,
then (without limiting any of Bank’s rights or remedies), Borrower shall pay Bank a fee of One Thousand Dollars ($1,000.00) plus any out-of-pocket expenses incurred by Bank to compensate Bank for the anticipated costs and expenses of the
cancellation or rescheduling. Borrower hereby acknowledges that the Initial Audit will be conducted prior to any Credit Extensions being made hereunder. After the occurrence of an Event of Default, Bank may audit Borrower’s Collateral at
Borrower’s expense, including, but not limited to, Borrower’s Accounts as frequently as Bank deems necessary at Borrower’s expense and at Bank’s sole and exclusive discretion, without notification to and authorization from
Borrower. 
 (d) Upon Bank’s reasonable request, provide a written report on any Financed Receivable, where
payment of such Financed Receivable does not occur by its due date and include the reasons for the delay. 
 (e)
Provide Bank with, as soon as available, but no later than twenty (20) days following each Reconciliation Period, an aged listing of accounts receivable and accounts payable by invoice date, in form and detail acceptable to Bank. 

(f) Provide Bank with, as soon as available, but no later than twenty (20) days following each Reconciliation Period,
a Deferred Revenue report, in form and detail acceptable to Bank. 

  
 12 

 (g) Immediately upon Borrower becoming Streamline Facility Eligible, and
thereafter until Borrower is no longer Streamline Facility Eligible, provide Bank with, as soon as available, but no later than twenty (20) days following each Reconciliation Period, a duly completed Borrowing Base Certificate signed by a
Responsible Officer. 
 (h) Immediately upon Borrower ceasing to be Streamline Facility Eligible, provide Bank
with a current aging of Accounts and, to the extent not previously delivered to Bank, a copy of the invoice for each Eligible Account and an Advance Request and Invoice Transmittal with respect to each such Account. 

6.3 Taxes. Make, and cause each Subsidiary to make, timely payment of all foreign, federal, state, and local taxes or assessments
(other than taxes and assessments which Borrower is contesting in good faith, with adequate reserves maintained in accordance with GAAP) and will deliver to Bank, on demand, appropriate certificates attesting to such payments. 

6.4 Insurance. Keep its business and the Collateral insured for risks and in amounts standard for companies in Borrower’s
industry and location, and as Bank may reasonably request. Insurance policies shall be in a form, with companies, and in amounts that are satisfactory to Bank. All property policies shall have a lender’s loss payable endorsement showing Bank as
the sole lender loss payee and waive subrogation against Bank, and all liability policies shall show, or have endorsements showing, Bank as an additional insured. All policies (or the lender loss payable and additional insured endorsements) shall
provide that the insurer must give Bank at least twenty (20) days notice before canceling, amending, or declining to renew its policy. At Bank’s request, Borrower shall deliver certified copies of policies and evidence of all premium
payments. Proceeds payable under any policy shall, at Bank’s option, be payable to Bank on account of the Obligations. Notwithstanding the foregoing, (a) so long as no Event of Default has occurred and is continuing, Borrower shall have
the option of applying the proceeds of any casualty policy up to One Hundred Thousand Dollars ($100,000.00), in the aggregate, toward the replacement or repair of destroyed or damaged property; provided that any such replaced or repaired property
(i) shall be of equal or like value as the replaced or repaired Collateral and (ii) shall be deemed Collateral in which Bank has been granted a first priority security interest subject only to Permitted Liens and (b) after the
occurrence and during the continuance of an Event of Default, all proceeds payable under such casualty policy shall, at the option of the Bank, be payable to Bank on account of the Obligations. If Borrower fails to obtain insurance as required under
this Section 6.4 or to pay any amount or furnish any required proof of payment to third persons and Bank, Bank may make all or part of such payment or obtain such insurance policies required in this Section 6.4, and take any action under
the policies Bank deems prudent. 
 6.5 Accounts 

(a) To permit Bank to monitor Borrower’s financial performance and condition, maintain Borrower’s and its
Subsidiaries’ depository and operating accounts and securities accounts with Bank and Bank’s Affiliates, which accounts shall contain at least (i) a majority of Borrower’s and its Subsidiaries’ cash and (ii) a majority
of Borrower’s cash. Any Guarantor shall maintain all depository and operating accounts with Bank, and, with respect to securities accounts, with an affiliate of Bank. 

(b) Provide Bank five (5) days prior written notice before establishing any Collateral Account at or with any bank or
financial institution other than Bank or Bank’s Affiliates. For each Collateral Account that Borrower at any time maintains, Borrower shall cause the applicable bank or financial institution (other than Bank) at or with which any Collateral
Account is maintained to execute and deliver a Control Agreement or other appropriate instrument with respect to such Collateral Account to perfect Bank’s Lien in such Collateral Account in accordance with the terms hereunder which Control
Agreement may not be terminated without the prior written consent of Bank. The provisions of the previous sentence shall not apply to deposit accounts exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for
the benefit of Borrower’s employees and identified to Bank by Borrower as such. 
 6.6 Inventory; Returns; Notices of
Adjustments. Keep all Inventory in good and marketable condition, free from material defects. Returns and allowances between Borrower and its Account Debtors shall follow Borrower’s customary practices as they exist at the Effective Date.
If, at any time during the term of this Agreement, any Account Debtor asserts an Adjustment in excess of One Hundred Thousand Dollars ($100,000.00), Borrower issues a credit memorandum, or any representation, warranty or covenant set forth in this
Agreement or the other Loan Documents is no longer true in all material respects, Borrower will promptly advise Bank. 

  
 13 

 6.7 Protection of Intellectual Property Rights  

(a) (i) Protect, defend and maintain the validity and enforceability of its Intellectual Property; (ii) promptly
advise Bank in writing of material infringements of its Intellectual Property; and (iii) not allow any Intellectual Property material to Borrower’s business to be abandoned, forfeited or dedicated to the public without Bank’s written
consent. 
 (b) Provide written notice to Bank within ten (10) days of entering or becoming bound by any
Restricted License (other than over-the-counter software that is commercially available to the public). Borrower shall take such steps as Bank requests to obtain the consent of, or waiver by, any person whose consent or waiver is necessary for
(i) any Restricted License to be deemed “Collateral” and for Bank to have a security interest in it that might otherwise be restricted or prohibited by law or by the terms of any such Restricted License, whether now existing or
entered into in the future, and (ii) Bank to have the ability in the event of a liquidation of any Collateral to dispose of such Collateral in accordance with Bank’s rights and remedies under this Agreement and the other Loan Documents.

 6.9 Litigation Cooperation. From the Effective Date and continuing through the termination of this Agreement, make
available to Bank, without expense to Bank, Borrower and its officers, employees and agents and Borrower’s Books, to the extent that Bank may deem them reasonably necessary to prosecute or defend any third-party suit or proceeding instituted by
or against Bank with respect to any Collateral or relating to Borrower. 
 6.10 Further Assurances. Execute any
further instruments and take further action as Bank reasonably requests to perfect or continue Bank’s Lien in the Collateral or to effect the purposes of this Agreement. 

 

	 	7	NEGATIVE COVENANTS 

Borrower shall not do any of the following without Bank’s prior written consent. 

7.1 Dispositions. Convey, sell, lease, transfer, assign, or otherwise dispose of (collectively a “Transfer”), or
permit any of its Subsidiaries to Transfer, all or any part of its business or property, except for Transfers (a) of Inventory in the ordinary course of business; (b) of worn-out, obsolete, or surplus Equipment; and (c) in connection
with Permitted Liens and Permitted Investments. 
 7.2 Changes in Business, Management, Ownership, or Business Locations.
(a) Engage in or permit any of its Subsidiaries to engage in any business other than the businesses currently engaged in by Borrower and such Subsidiary, as applicable, or reasonably related thereto; (b) liquidate or dissolve; or
(c) (i) suffer the resignation or departure of any Key Person and not hire a replacement reasonably acceptable to Bank for such Key Person within ninety (90) days of such Key Person’s resignation or departure; or (ii) enter
into any transaction or series of related transactions in which the stockholders of Borrower who were not stockholders immediately prior to the first such transaction own more than forty percent (40.0%) of the voting stock of Borrower
immediately after giving effect to such transaction or related series of such transactions (other than by the sale of Borrower’s equity securities in a public offering or to venture capital investors (or other similar institutional investors
reasonably acceptable to Bank) so long as Borrower identifies to Bank such investors prior to the closing of the transaction and provides to Bank a description of the material terms of the transaction). 

Borrower shall not, without at least thirty (30) days prior written notice to Bank: (1) add any new offices or business
locations, including warehouses (unless each such new office or business location contains less than Twenty-Five Thousand Dollars ($25,000.00) in Borrower’s assets or property), (2) change its jurisdiction of organization, (3) change
its organizational structure or type, (4) change its legal name, (5) change any organizational number (if any) assigned by its jurisdiction of organization, or (6) deliver any portion of the Collateral to a bailee, unless
(i) such bailee location contains less than Twenty-Five Thousand Dollars ($25,000.00) in Borrower’s assets or property and (ii) Bank and such bailee are parties to a bailee agreement governing both the Collateral and the location to
which Borrower intends to deliver the Collateral. 

  
 14 

 Borrower hereby agrees upon Borrower adding any new office or business location, including
any warehouse, Borrower will cause its landlord to enter into a landlord consent in favor of Bank prior to such new office or business location containing Twenty-Five Thousand Dollars ($25,000.00) of Collateral. 

Borrower hereby agrees that prior to Borrower delivering any Collateral to a bailee, Borrower shall cause such bailee to execute and
deliver a bailee agreement in form and substance satisfactory to Bank. 
 7.3 Mergers or Acquisitions. Merge or
consolidate, or permit any of its Subsidiaries to merge or consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except for
Permitted Acquisitions. A Subsidiary may merge or consolidate into another Subsidiary or into Borrower. 
 7.4
Indebtedness. Create, incur, assume, or be liable for any Indebtedness, or permit any Subsidiary to do so, other than Permitted Indebtedness. 
 7.5 Encumbrance. Create, incur, allow, or suffer any Lien on any of its property, or assign or convey any right to receive income, including the sale of any Accounts, or permit any of its
Subsidiaries to do so, except for Permitted Liens, or permit any Collateral not to be subject to the first priority security interest granted herein, or enter into any agreement, document, instrument or other arrangement (except with or in favor of
Bank) with any Person which directly or indirectly prohibits or has the effect of prohibiting Borrower or any Subsidiary from assigning, mortgaging, pledging, granting a security interest in or upon, or encumbering any of Borrower’s or any
Subsidiary’s Intellectual Property, except as is otherwise permitted in Section 7.1 of this Agreement and the definition of “Permitted Liens” herein. 
 7.6 Maintenance of Collateral Accounts. Maintain any Collateral Account except pursuant to the terms of Section 6.5 of this Agreement. 

7.7 Distributions; Investments. (a) Directly or indirectly acquire or own any Person, or make any Investment in any Person,
other than Permitted Investments, or permit any of its Subsidiaries to do so; or (b) pay any dividends or make any distribution or payment or redeem, retire or purchase any capital stock, provided that Borrower may (i) pay dividends solely
in common stock or (ii) repurchase the stock of former employees, directors or consultants pursuant to stock repurchase agreements so long as an Event of Default does not exist at the time of any such repurchase and would not exist after giving
effect to any such repurchase, provided such repurchases do not exceed in the aggregate of One Hundred Thousand Dollars ($100,000.00) per fiscal year. 
 7.8 Transactions with Affiliates. Directly or indirectly enter into or permit to exist any material transaction with any Affiliate of Borrower, except for transactions that are in the ordinary
course of Borrower’s business, upon fair and reasonable terms that are no less favorable to Borrower than would be obtained in an arm’s length transaction with a non-affiliated Person and transactions permitted pursuant to the terms of
Section 7.2 hereof. 
 7.9 Subordinated Debt. (a) Make or permit any payment on any Subordinated Debt, except
under the terms of the subordination, intercreditor, or other similar agreement to which such Subordinated Debt is subject, or (b) amend any provision in any document relating to the Subordinated Debt which would increase the amount owed by
Borrower thereof, shorten the maturity thereof, increase the rate of interest applicable thereto or adversely affect the subordination thereof to Obligations owed to Bank. 
 7.10 Compliance. Become an “investment company” or a company controlled by an “investment company”, under the Investment Company Act of 1940, as amended, or undertake as one of
its important activities extending credit to purchase or carry margin stock (as defined in Regulation U of the Board of Governors of the Federal Reserve System), or use the proceeds of any Credit Extension for that purpose; fail to meet the minimum
funding requirements of ERISA, permit a Reportable Event or Prohibited Transaction, each as defined in ERISA, to occur; fail to comply with the Federal Fair Labor Standards Act or violate any other law or regulation, if the violation could
reasonably be expected to have a material adverse effect on Borrower’s business, or permit any of its Subsidiaries to do so; withdraw or permit any Subsidiary to withdraw from participation in, permit partial or complete termination of, or
permit the occurrence of any other event with respect to, any present pension, profit sharing and deferred compensation plan which could reasonably be expected to result in any liability of Borrower, including any liability to the Pension Benefit
Guaranty Corporation or its successors or any other governmental agency. 

  
 15 

	 	8	EVENTS OF DEFAULT 

 Any
one of the following shall constitute an event of default (an “Event of Default”) under this Agreement: 

8.1 Payment Default. Borrower fails to pay any of the Obligations when due; 

8.2 Covenant Default. Borrower fails or neglects to perform any obligation in Section 2.9 or Section 6 of this Agreement
or violates any covenant in Section 7 of this Agreement or fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant or agreement contained in this Agreement, any Loan Documents and as to any default
under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the default within ten (10) days after the occurrence thereof; provided, however, grace and cure periods provided under this
Section 8.2 shall not apply to financial covenants or any other covenants that are required to be satisfied, completed or tested by a date certain; 
 8.3 Material Adverse Change. A Material Adverse Change occurs; 
 8.4
Attachment; Levy; Restraint on Business 
 (a) (i) The service of process seeking to attach, by trustee
or similar process, any funds of Borrower or of any entity under the control of Borrower (including a Subsidiary) on deposit or otherwise maintained with Bank or any Bank Affiliate, or (ii) a notice of lien or levy is filed against any of
Borrower’s assets by any government agency, and the same under subclauses (i) and (ii) hereof are not, within ten (10) days after the occurrence thereof, discharged or stayed (whether through the posting of a bond or otherwise);
provided, however, no Credit Extensions shall be made during any ten (10) day cure period; or 
 (b)
(i) any material portion of Borrower’s assets is attached, seized, levied on, or comes into possession of a trustee or receiver, or (ii) any court order enjoins, restrains, or prevents Borrower from conducting any material part of its
business; 
 8.5 Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or
otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within forty-five (45) days (but no Credit Extensions shall be made while
of any of the conditions described in clause (a) exist and/or until any Insolvency Proceeding is dismissed); 
 8.6
Other Agreements. There is, under any agreement to which Borrower or any Guarantor is a party with a third party or parties, (a) any default resulting in a right by such third party or parties, whether or not exercised, to accelerate the
maturity of any Indebtedness in an amount individually or in the aggregate in excess of One Hundred Thousand Dollars ($100,000.00); or (b) any default by Borrower or Guarantor, the result of which could result in a Material Adverse Change to
Borrower’s or any Guarantor’s business; 
 8.7 Judgments. One or more final judgments, orders, or decrees for
the payment of money in an amount, individually or in the aggregate, of at least Fifty Thousand Dollars ($50,000.00) (not covered by independent third-party insurance as to which liability has been accepted by such insurance carrier) shall be
rendered against Borrower and the same are not, within ten (10) days after the entry thereof, discharged or execution thereof stayed or bonded pending appeal, or such judgments are not discharged prior to the expiration of any such stay
(provided that no Credit Extensions will be made prior to the discharge, stay, or bonding of such judgment, order, or decree); 

8.8 Misrepresentations. Borrower or any Person acting for Borrower makes any representation, warranty, or other statement now or
later in this Agreement, any Loan Document or in any writing delivered to Bank or to induce Bank to enter this Agreement or any Loan Document, and such representation, warranty, or other statement is incorrect in any material respect when made;

  
 16 

 8.9 Subordinated Debt. Any document, instrument, or agreement evidencing any
Subordinated Debt shall for any reason be revoked or invalidated or otherwise cease to be in full force and effect, any Person shall be in breach thereof or contest in any manner the validity or enforceability thereof or deny that it has any further
liability or obligation thereunder, or the Obligations shall for any reason be subordinated or shall not have the priority contemplated by this Agreement; 
 8.10 Guaranty. (a) Any guaranty of any Obligations terminates or ceases for any reason to be in full force and effect; (b) any Guarantor does not perform any obligation or covenant under
any guaranty of the Obligations; (c) any circumstance described in Sections 8.3, 8.4, 8.5, 8.6, 8.7, or 8.8 of this Agreement occurs with respect to any Guarantor; (d) the death, liquidation, winding up, or termination of existence of any
Guarantor; or (e) (i) a material impairment in the perfection or priority of Bank’s Lien in the collateral provided by Guarantor or in the value of such collateral or (ii) a material adverse change in the general affairs,
management, results of operation, condition (financial or otherwise) or the prospect of repayment of the Obligations occurs with respect to any Guarantor; or 
 8.11 Governmental Approvals. Any Governmental Approval shall have been (a) revoked, rescinded, suspended, modified in an adverse manner or not renewed in the ordinary course for a full
term or (b) subject to any decision by a Governmental Authority that designates a hearing with respect to any applications for renewal of any such Governmental Approval or that could result in the Governmental Authority taking any of the
actions described in clause (a) above, and such decision or such revocation, rescission, suspension, modification or non-renewal (i) has, or could reasonably be expected to have, a Material Adverse Change, or (ii) adversely affects
the legal qualifications of Borrower or any of its Subsidiaries to hold such Governmental Approval in any applicable jurisdiction and such revocation, rescission, suspension, modification or non-renewal could reasonably be expected to materially
adversely affect the status of or legal qualifications of Borrower or any of its Subsidiaries to hold any Governmental Approval in any other jurisdiction. 
  

	 	9	BANK’S RIGHTS AND REMEDIES 

 9.1 Rights and Remedies. When an Event of Default occurs and continues beyond any applicable grace period Bank may, without notice or demand, do any or all of the following to the extent not
prohibited by applicable law: 
 (a) declare all Obligations immediately due and payable (but if an Event of
Default described in Section 8.5 of this Agreement occurs, all Obligations are immediately due and payable without any action by Bank); 
 (b) stop advancing money or extending credit for Borrower’s benefit under this Agreement or under any other agreement between Borrower and Bank; 

(c) demand that Borrower (i) deposit cash with Bank in an amount equal to (i) one hundred five percent
(105.0%) of the aggregate face amount of all such Letters of Credit denominated in Dollars, and (ii) one hundred ten percent (110.0%) of the Dollar Equivalent of the aggregate face amount of all such Letters of Credit denominated in a
Foreign Currency, remaining undrawn (plus all interest, fees, and costs due or to become due in connection therewith (as estimated by Bank in its good faith business judgment)), to secure all of the Obligations relating to such Letters of Credit, as
collateral security for the repayment of any future drawings under such Letters of Credit, and Borrower shall forthwith deposit and pay such amounts, and (ii) pay in advance all letter of credit fees scheduled to be paid or payable over the
remaining term of any Letters of Credit; 
 (d) terminate any FX Forward Contracts; 

(e) settle or adjust disputes and claims directly with Account Debtors for amounts, on terms and in any order that Bank
considers advisable and notify any Person owing Borrower money of Bank’s security interest in such funds and verify the amount of such account. Borrower shall collect all payments in trust for Bank and, if requested by Bank, immediately deliver
the payments to Bank in the form received from the Account Debtor, with proper endorsements for deposit; 

  
 17 

 (f) make any payments and do any acts it considers necessary or reasonable
to protect its security interest in the Collateral. Borrower shall assemble the Collateral if Bank requests and make it available as Bank designates that is reasonably convenient to Bank and Borrower. Bank may peaceably enter premises where the
Collateral is located, take and maintain possession of any part of the Collateral, and pay, purchase, contest, or compromise any Lien which appears to be prior or superior to its security interest and pay all expenses incurred. Borrower grants Bank
a license to enter and occupy any of its premises, without charge by Borrower, to exercise any of Bank’s rights or remedies; 
 (g) apply to the Obligations any (i) balances and deposits of Borrower it holds, or (ii) any amount held by Bank owing to or for the credit or the account of Borrower; 

(h) ship, reclaim, recover, store, finish, maintain, repair, prepare for sale, advertise for sale, and sell the
Collateral. Bank is hereby granted a non-exclusive, royalty-free license or other right to use, without charge, Borrower’s labels, Patents, Copyrights, mask works, rights of use of any name, trade secrets, trade names, Trademarks, and
advertising matter, or any similar property as it pertains to the Collateral, in completing production of, advertising for sale, and selling any Collateral and, in connection with Bank’s exercise of its rights under this Section 9.1,
Borrower’s rights under all licenses and all franchise agreements inure to Bank’s benefit; 
 (i) place
a “hold” on any account maintained with Bank and/or deliver a notice of exclusive control, any entitlement order, or other directions or instructions pursuant to any Control Agreement or similar agreements providing control of any
Collateral; 
 (j) demand and receive possession of Borrower’s Books; and 

(k) exercise all rights and remedies available to Bank under the Loan Documents or at law or equity, including all
remedies provided under the Code (including disposal of the Collateral pursuant to the terms thereof). 
 9.2 Protective
Payments. If Borrower fails to obtain the insurance called for by Section 6.4 of this Agreement or fails to pay any premium thereon or fails to pay any other amount which Borrower is obligated to pay under this Agreement or any other Loan
Document, Bank may obtain such insurance or make such payment, and all amounts so paid by Bank are Bank Expenses and immediately due and payable, bearing interest at the then highest rate applicable to the Obligations, and secured by the Collateral.
Bank will make reasonable efforts to provide Borrower with notice of Bank obtaining such insurance at the time it is obtained or within a reasonable time thereafter. No payments by Bank are deemed an agreement to make similar payments in the future
or Bank’s waiver of any Event of Default. 
 9.3 Bank’s Liability for Collateral. So long as Bank complies with
applicable law and reasonable banking practices regarding the safekeeping of the Collateral in the possession or under the control of Bank, Bank shall not be liable or responsible for: (a) the safekeeping of the Collateral; (b) any loss or
damage to the Collateral; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other Person. Borrower bears all risk of loss, damage or destruction of the Collateral.

 9.4 No Waiver; Remedies Cumulative. Bank’s failure, at any time or times, to require strict performance by
Borrower of any provision of this Agreement or any other Loan Document shall not waive, affect, or diminish any right of Bank thereafter to demand strict performance and compliance herewith or therewith. No waiver hereunder shall be effective unless
signed by the party granting the waiver and then is only effective for the specific instance and purpose for which it is given. Bank’s rights and remedies under this Agreement and the other Loan Documents are cumulative. Bank has all rights and
remedies provided under the Code, by law, or in equity. Bank’s exercise of one right or remedy is not an election and shall not preclude Bank from exercising any other remedy under this Agreement or other remedy available at law or in equity,
and Bank’s waiver of any Event of Default is not a continuing waiver. Bank’s delay in exercising any remedy is not a waiver, election, or acquiescence. 
 9.5 Demand Waiver. Borrower waives demand, notice of default or dishonor, notice of payment and nonpayment, notice of any default, nonpayment at maturity, release, compromise, settlement,
extension, or renewal of accounts, documents, instruments, chattel paper, and guarantees held by Bank on which Borrower is liable. 

  
 18 

	 	10	NOTICES 

 All notices,
consents, requests, approvals, demands, or other communication by any party to this Agreement or any other Loan Document must be in writing and shall be deemed to have been validly served, given, or delivered: (a) upon the earlier of actual
receipt and three (3) Business Days after deposit in the U.S. mail, first class, registered or certified mail return receipt requested, with proper postage prepaid; (b) upon transmission, when sent by electronic mail or facsimile
transmission; (c) one (1) Business Day after deposit with a reputable overnight courier with all charges prepaid; or (d) when delivered, if hand-delivered by messenger, all of which shall be addressed to the party to be notified and
sent to the address, facsimile number, or email address indicated below. Bank or Borrower may change its mailing or electronic mail address or facsimile number by giving the other party written notice thereof in accordance with the terms of this
Section 10. 
  

			
	 If to Borrower:
	  	 Brightcove Inc.
 One
Cambridge Center
 Cambridge, Massachusetts 02142
 Attn: General Counsel
 Fax: (617) 225-6934
 Email: general_counsel@brightcove.com

		
	 with a copy to:
	  	 Goodwin Procter LLP
 53
State Street
 Boston, Massachusetts 02109
 Attn: Mark D. Smith
 Fax: (617) 523-1231
 Email: marksmith@goodwinprocter.com

		
	 If to Bank:
	  	 Silicon Valley Bank
 275
Grove Street, Suite 2-200
 Newton, Massachusetts 02466
 Attn: Ms. Kate Leland
 Fax: (617) 527-0177
 Email: KLeland@svb.com

		
	 with a copy to:
	  	 Riemer & Braunstein LLP

Three Center Plaza
 Boston, Massachusetts
02108
 Attn: David A. Ephraim, Esquire

Fax: (617) 880-3456

Email: DEphraim@riemerlaw.com

  

	 	11	CHOICE OF LAW, VENUE and JURY TRIAL WAIVER 

 Massachusetts law governs the Loan Documents without regard to principles of conflicts of law. Borrower and Bank each submit to the exclusive jurisdiction of the State and Federal courts in Massachusetts;
provided, however, that nothing in this Agreement shall be deemed to operate to preclude Bank from bringing suit or taking other legal action in any other jurisdiction to realize on the Collateral or any other security for the Obligations, or to
enforce a judgment or other court order in favor of Bank. Borrower expressly submits and consents in advance to such jurisdiction in any action or suit commenced in any such court, and Borrower hereby waives any objection that it may have based upon
lack of personal jurisdiction, improper venue, or forum non conveniens and hereby consents to the granting of such legal or equitable relief as is deemed appropriate by such court. Borrower hereby waives personal service of the summons, complaints,
and other process issued in such action or suit and agrees that service of such summons, complaints, and other process may be made by registered or certified mail addressed to Borrower at the address set forth in, or subsequently provided to
Borrower in accordance with, Section 10 of this Agreement and that service so made shall be deemed completed upon the earlier to occur of Borrower’s actual receipt thereof or three (3) days after deposit in the U.S. mails, proper
postage prepaid. 

  
 19 

 BORROWER AND BANK EACH WAIVE THEIR RIGHT TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION
ARISING OUT OF OR BASED UPON THIS AGREEMENT, THE LOAN DOCUMENTS OR ANY CONTEMPLATED TRANSACTION, INCLUDING CONTRACT, TORT, BREACH OF DUTY AND ALL OTHER CLAIMS. THIS WAIVER IS A MATERIAL INDUCEMENT FOR BOTH PARTIES TO ENTER INTO THIS AGREEMENT. EACH
PARTY HAS REVIEWED THIS WAIVER WITH ITS COUNSEL. 
  

	 	12	GENERAL PROVISIONS 

12.1 Successors and Assigns. This Agreement binds and is for the benefit of the successors and permitted assigns of each party.
Borrower may not assign this Agreement or any rights or obligations under it without Bank’s prior written consent (which may be granted or withheld in Bank’s discretion). Bank has the right, without the consent of or notice to Borrower, to
sell, transfer, assign, negotiate, or grant participation in all or any part of, or any interest in, Bank’s obligations, rights, and benefits under this Agreement and the other Loan Documents. 

12.2 Indemnification. Borrower agrees to indemnify, defend and hold Bank and its directors, officers, employees, agents,
attorneys, or any other Person affiliated with or representing Bank (each, an “Indemnified Person”) harmless against: (a) all obligations, demands, claims, and liabilities (collectively, “Claims”) claimed or
asserted by any other party in connection with the transactions contemplated by the Loan Documents; and (b) all losses or expenses (including Bank Expenses) in any way suffered, incurred, or paid by such Indemnified Person as a result of,
following from, consequential to, or arising from transactions between Bank and Borrower (including reasonable attorneys’ fees and expenses), except for Claims and/or losses directly caused by such Indemnified Person’s gross negligence or
willful misconduct. 
 12.3 Right of Set-Off. Borrower hereby grants to Bank, a lien, security interest and right of
setoff as security for all Obligations to Bank, whether now existing or hereafter arising upon and against all deposits, credits, collateral and property, now or hereafter in the possession, custody, safekeeping or control of Bank or any entity
under the control of Bank (including a Bank subsidiary) or in transit to any of them. At any time after the occurrence and during the continuance of an Event of Default, without demand or notice, Bank may set off the same or any part thereof and
apply the same to any Obligations of Borrower then due regardless of the adequacy of any other collateral securing the Obligations. ANY AND ALL RIGHTS TO REQUIRE BANK TO EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH
SECURES THE OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF BORROWER, ARE HEREBY KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED. 

12.4 Time of Essence. Time is of the essence for the performance of all Obligations in this Agreement. 

12.5 Correction of Loan Documents. Bank may correct patent errors and fill in any blanks in the Loan Documents consistent with the
agreement of the parties. 
 12.6 Severability of Provisions. Each provision of this Agreement is severable from every
other provision in determining the enforceability of any provision. 
 12.7 Amendments in Writing; Waiver; Integration.
No purported amendment or modification of any Loan Document, or waiver, discharge or termination of any obligation under any Loan Document, shall be enforceable or admissible unless, and only to the extent, expressly set forth in a writing signed by
the party against which enforcement or admission is sought. Without limiting the generality of the foregoing, no oral promise or statement, nor any action, inaction, delay, failure to require performance or course of conduct shall operate as, or
evidence, an amendment, supplement or waiver or have any other effect on any Loan Document. Any waiver granted shall be limited to the specific circumstance expressly described in it, and shall not apply to any subsequent or other circumstance,
whether similar or dissimilar, or give rise to, or evidence, any obligation or commitment to grant any further waiver. The Loan Documents represent the entire agreement about this subject matter and supersede prior negotiations or agreements. All
prior agreements, understandings, representations, warranties, and negotiations between the parties about the subject matter of the Loan Documents merge into the Loan Documents. 

  
 20 

 12.8 Counterparts. This Agreement may be executed in any number of counterparts and
by different parties on separate counterparts, each of which, when executed and delivered, is an original, and all taken together, constitute one Agreement. 
 12.9 Survival. All covenants, representations and warranties made in this Agreement continue in full force until this Agreement has terminated pursuant to its terms and all Obligations (other than
inchoate indemnity obligations and any other obligations which, by their terms, are to survive the termination of this Agreement) have been paid in full and satisfied. The obligation of Borrower in Section 12.2 of this Agreement to indemnify
Bank shall survive until the statute of limitations with respect to such claim or cause of action shall have run. 
 12.10
Confidentiality. In handling any confidential information, Bank shall exercise the same degree of care that it exercises for its own proprietary information, but disclosure of information may be made: (a) to Bank’s Subsidiaries or
Affiliates (such Subsidiaries and Affiliates, together with Bank, each a “Bank Entity” and collectively, the “Bank Entities”); (b) to prospective transferees or purchasers of any interest in the Credit
Extensions (provided, however, Bank shall use its best efforts to obtain any prospective transferee’s or purchaser’s agreement to the terms of this Section 12.10); (c) as required by law, regulation, subpoena, or other order;
(d) to Bank’s regulators or as otherwise required in connection with Bank’s examination or audit; (e) as Bank considers appropriate in exercising remedies under the Loan Documents; and (f) to third-party service providers of
Bank so long as such service providers have executed a confidentiality agreement with Bank with terms no less restrictive than those contained herein. Confidential information does not include information that is: (i) either in the public
domain other than as a result of Bank’s breach of this Section 12.10 or is in Bank’s possession when disclosed to Bank; or (ii) disclosed to Bank by a third party on a nonconfidential basis if Bank does not know that the third
party is prohibited from disclosing the information. 
 Bank Entities may use the confidential information for reporting
purposes and the development and distribution of databases and market analyses so long as such confidential information is aggregated and anonymized prior to distribution unless otherwise expressly prohibited by Borrower. The provisions of the
immediately preceding sentence shall survive the termination of this Agreement. 
 12.11 Electronic Execution of
Documents. The words “execution,” “signed,” “signature” and words of like import in any Loan Document shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which
shall be of the same legal effect, validity and enforceability as a manually executed signature or the use of a paper-based recordkeeping systems, as the case may be, to the extent and as provided for in any applicable law, including, without
limitation, any state law based on the Uniform Electronic Transactions Act. 
 12.12 Captions. The headings used in this
Agreement are for convenience only and shall not affect the interpretation of this Agreement. 
 12.13 Construction of
Agreement. The parties mutually acknowledge that they and their attorneys have participated in the preparation and negotiation of this Agreement. In cases of uncertainty this Agreement shall be construed without regard to which of the parties
caused the uncertainty to exist. 
 12.14 Relationship. The relationship of the parties to this Agreement is determined
solely by the provisions of this Agreement. The parties do not intend to create any agency, partnership, joint venture, trust, fiduciary or other relationship with duties or incidents different from those of parties to an arm’s-length contract.

 12.15 Third Parties. Nothing in this Agreement, whether express or implied, is intended to: (a) confer any
benefits, rights or remedies under or by reason of this Agreement on any persons other than the express parties to it and their respective permitted successors and assigns; (b) relieve or discharge the obligation or liability of any person not
an express party to this Agreement; or (c) give any person not an express party to this Agreement any right of subrogation or action against any party to this Agreement. 

  
 21 

	 	13	DEFINITIONS 

 13.1
Definitions. As used in the Loan Documents, the word “shall” is mandatory, the word “may” is permissive, the word “or” is not exclusive, the words “includes” and “including” are not limiting, the
singular includes the plural, and numbers denoting amounts that are set off in brackets are negative. As used in this Agreement, the following capitalized terms have the following meanings: 

“Account” is any “account” as defined in the Code with such additions to such term as may hereafter be made,
and includes, without limitation, all accounts receivable and other sums owing to Borrower. 
 “Account
Balance” is, on any date, the aggregate outstanding amount of all Advances made based upon Aggregate Eligible Accounts. 
 “Account Debtor” is as defined in the Code and shall include, without limitation, any person liable on any Financed Receivable, such as, a guarantor of the Financed Receivable and any
issuer of a letter of credit or banker’s acceptance. 
 “Adjusted Quick Ratio” is the ratio of
(a) Quick Assets to (b) Current Liabilities minus the current portion of Deferred Revenue. 

“Adjustments” are all discounts allowances, returns, recoveries, disputes, claims of any kind (including, without
limitation, counterclaims or warranty claims), offsets, defenses, rights of recoupment, rights of return, or short payments, asserted by or on behalf of any Account Debtor for any Financed Receivable. 

“Advance” is defined in Section 2.1.1 of this Agreement. 

“Advance Rate” is (a) with respect to Eligible Accounts, eighty percent (80.0%), net of any offsets related
to each specific Account Debtor, including, without limitation, Deferred Revenue, or such other percentage as Bank establishes under Section 2.1.1 of this Agreement upon notice to Borrower, and (b) with respect to Aggregate Eligible
Accounts, eighty percent (80.0%), net of any offsets related to each specific Account Debtor, except for Deferred Revenue, or such other percentage as Bank establishes under Section 2.1.1 of this Agreement upon notice to Borrower.

 “Advance Request and Invoice Transmittal” shows Eligible Accounts and/or Aggregate Eligible Accounts,
which Bank may finance, and (a) with respect to requests for Advances based upon Eligible Accounts, includes the Account Debtor’s name, address, invoice amount, invoice date and invoice number, (b) with respect to requests for
Advances based upon Aggregate Eligible Accounts, includes (i) the Account Debtor’s name, address, invoice amount, invoice date and invoice number, (ii) the current outstanding amount of Advances made based upon Aggregate Eligible
Accounts and (iii) the Availability Amount, and (c) with respect to requests for Credit Extensions made pursuant to Sections 2.1.2, 2.1.3 and/or 2.1.4, includes (i) the type of Credit Extension requested and (ii) the requested
amount of such Credit Extension. 
 “Affiliate” of any Person is a Person that owns or controls directly or
indirectly the Person, any Person that controls or is controlled by or is under common control with the Person, and each of that Person’s senior executive officers, directors, partners, and, for any Person that is a limited liability company,
that Person’s managers and members. 
 “Aggregate Eligible Accounts” is defined in Section 2.1.1.

 “Agreement” is defined in the preamble of this Agreement. 

“Applicable Rate” is a per annum rate equal to the Prime Rate plus one and one-half of one percent (1.50%). 

“Availability Amount” is the lesser of (a) Eight Million Dollars ($8,000,000.00) and (b) the Borrowing Base.

 “Bank” is defined in the preamble of this Agreement. 

“Bank Entities” is defined in Section 12.10. 

  
 22 

 “Bank Expenses” are all audit fees and expenses, and other costs and
expenses (including reasonable documented attorneys’ fees and expenses) for preparing, amending, negotiating, administering, defending and enforcing the Loan Documents (including, without limitation, those incurred in connection with appeals or
Insolvency Proceedings) or otherwise incurred with respect to Borrower. 
 “Borrower” is defined in the
preamble of this Agreement. 
 “Borrower’s Books” are all Borrower’s books and records including
ledgers, federal and state tax returns, records regarding Borrower’s assets or liabilities, the Collateral, business operations or financial condition, and all computer programs or storage or any equipment containing such information.

 “Borrowing Base” is eighty percent (80.0%) (or such other percentage as Bank establishes under
Section 2.1.1 upon notice to Borrower) multiplied by Borrower’s Aggregate Eligible Accounts (net of any offsets related to each specific Account Debtor, except for Deferred Revenue). 

“Borrowing Base Certificate” is that certain certificate in the form attached hereto as Exhibit D.

 “Borrowing Resolutions” are, with respect to any Person, those resolutions adopted by such Person’s
board of directors and delivered by such Person to Bank approving the Loan Documents to which such Person is a party and the transactions contemplated thereby, together with a certificate executed by its Secretary on behalf of such Person certifying
that (a) such Person has the authority to execute, deliver, and perform its obligations under each of the Loan Documents to which it is a party, (b) that attached as Exhibit A to such certificate is a true, correct, and complete copy of
the resolutions then in full force and effect authorizing and ratifying the execution, delivery, and performance by such Person of the Loan Documents to which it is a party, (c) the name(s) of the Person(s) authorized to execute the Loan
Documents on behalf of such Person, together with a sample of the true signature(s) of such Person(s), and (d) that Bank may conclusively rely on such certificate unless and until such Person shall have delivered to Bank a further certificate
canceling or amending such prior certificate. 
 “Business Day” is any day that is not a Saturday, Sunday or a
day on which Bank is closed. 
 “Cash Equivalents” means (a) marketable direct obligations issued or
unconditionally guaranteed by the United States or any agency or any State thereof having maturities of not more than one (1) year from the date of acquisition; (b) commercial paper maturing no more than one (1) year after its
creation and having the highest rating from either Standard & Poor’s Ratings Group or Moody’s Investors Service, Inc.; (c) Bank’s certificates of deposit issued maturing no more than one (1) year after issue; and
(d) money market funds at least ninety five percent (95.0%) of the assets of which constitute Cash Equivalents of the kinds described in clauses (a) through (c) of this definition. 

“Cash Management Services” is defined in Section 2.1.4. 

“Claims” is defined in Section 12.2 of this Agreement. 

“Code” is the Uniform Commercial Code, as the same may, from time to time, be enacted and in effect in the Commonwealth
of Massachusetts; provided, that, to the extent that the Code is used to define any term herein or in any Loan Document and such term is defined differently in different Articles or Divisions of the Code, the definition of such term contained in
Article or Division 9 shall govern; provided further, that in the event that, by reason of mandatory provisions of law, any or all of the attachment, perfection, or priority of, or remedies with respect to, Bank’s Lien on any Collateral is
governed by the Uniform Commercial Code in effect in a jurisdiction other than the Commonwealth of Massachusetts, the term “Code” shall mean the Uniform Commercial Code as enacted and in effect in such other jurisdiction solely for
purposes of the provisions thereof relating to such attachment, perfection, priority, or remedies and for purposes of definitions relating to such provisions. 
 “Collateral” is any and all properties, rights and assets of Borrower described on Exhibit A. 
 “Collateral Account” is any Deposit Account, Securities Account, or Commodity Account. 
 “Collateral Handling Fee” is defined in Section 2.6 of this Agreement. 

  
 23 

 “Collections” are all funds received by Bank from or on behalf of an
Account Debtor for Financed Receivables. 
 “Commodity Account” is any “commodity account” as defined
in the Code with such additions to such term as may hereafter be made. 
 “Compliance Certificate” is attached
as Exhibit B. 
 “Contingent Obligation” is, for any Person, any direct or indirect liability,
contingent or not, of that Person for (a) any indebtedness, lease, dividend, letter of credit or other obligation of another such as an obligation directly or indirectly guaranteed, endorsed, co-made, discounted or sold with recourse by that
Person, or for which that Person is directly or indirectly liable; (b) any obligations for undrawn letters of credit for the account of that Person; and (c) all obligations from any interest rate, currency or commodity swap agreement,
interest rate cap or collar agreement, or other agreement or arrangement designated to protect a Person against fluctuation in interest rates, currency exchange rates or commodity prices; but “Contingent Obligation” does not include
endorsements in the ordinary course of business. The amount of a Contingent Obligation is the stated or determined amount of the primary obligation for which the Contingent Obligation is made or, if not determinable, the maximum reasonably
anticipated liability for it determined by the Person in good faith; but the amount may not exceed the maximum of the obligations under any guarantee or other support arrangement. 

“Control Agreement” is any control agreement entered into among the depository institution at which Borrower
maintains a Deposit Account or the securities intermediary or commodity intermediary at which Borrower maintains a Securities Account or a Commodity Account, Borrower, and Bank pursuant to which Bank obtains control (within the meaning of the Code)
over such Collateral Account. 
 “Copyrights” are any and all copyright rights, copyright applications,
copyright registrations and like protections in each work or authorship and derivative work thereof, whether published or unpublished and whether or not the same also constitutes a trade secret. 

“Credit Extension” is any Advance, Letter of Credit, FX Forward Contract, amount utilized for Cash Management
Services, or any other extension of credit by Bank for Borrower’s benefit. 
 “Current Liabilities”
are all consolidated obligations and liabilities of Borrower to Bank, plus, without duplication, the aggregate amount of Borrower’s consolidated Total Liabilities that mature within one (1) year. 

“Default Rate” is a per annum rate of interest which is five percent (5.0%) above the rate that is then in effect.

 “Deferred Revenue” is all amounts received or invoiced, as appropriate, in advance of performance under
contracts and not yet recognized as revenue. 
 “Deposit Account” is any “deposit account” as defined
in the Code with such additions to such term as may hereafter be made. 
 “Dollar Equivalent” is, at any time,
(a) with respect to any amount denominated in Dollars, such amount, and (b) with respect to any amount denominated in a Foreign Currency, the equivalent amount therefor in Dollars as determined by Bank at such time on the basis of the
then-prevailing rate of exchange in San Francisco, California, for sales of the Foreign Currency for transfer to the country issuing such Foreign Currency. 
 “Dollars,” “dollars” or use of the sign “$” means only lawful money of the United States and not any other currency, regardless of whether that
currency uses the “$” sign to denote its currency or may be readily converted into lawful money of the United States. 

“EBITDA” means earnings before interest, taxes, depreciation and amortization in accordance with GAAP. 

“Effective Date” is defined in the preamble hereof. 

  
 24 

 “Eligible Accounts” are billed Accounts in the ordinary course of
Borrower’s business that meet all Borrower’s representations and warranties in Section 5.3 of this Agreement, have been, at the option of Bank, confirmed in accordance with Section 2.1.1(d) of this Agreement, and are due and
owing from Account Debtors deemed creditworthy by Bank in its sole discretion. Without limiting the fact that the determination of which Accounts are eligible hereunder is a matter of Bank discretion in each instance, Eligible Accounts shall not
include the following Accounts (which listing may be amended or changed in Bank’s discretion with notice to Borrower): 
 (a) Accounts for which the Account Debtor is Borrower’s Affiliate, officer, employee, or agent; 
 (b) Accounts that the Account Debtor has not paid within one hundred twenty (120) days of invoice date regardless of invoice payment period terms; 

(c) Accounts billed and/or payable outside of the United States; 

(d) Accounts owing from an Account Debtor to the extent that Borrower is indebted or obligated in any manner to the
Account Debtor (as creditor, lessor, supplier or otherwise - sometimes called “contra” accounts, accounts payable, customer deposits or credit accounts), with the exception of customary credits, adjustments and/or discounts given to an
Account Debtor by Borrower in the ordinary course of its business; 
 (e) Accounts owing from an Account Debtor
which is a United States government entity or any department, agency, or instrumentality thereof unless Borrower has assigned its payment rights to Bank and the assignment has been acknowledged under the Federal Assignment of Claims Act of 1940, as
amended; 
 (f) Accounts for demonstration or promotional equipment, or in which goods are consigned, or sold on
a “sale guaranteed”, “sale or return”, “sale on approval”, or other terms if Account Debtor’s payment may be conditional; 
 (g) Accounts owing from an Account Debtor where goods or services have not yet been rendered to the Account Debtor (sometimes called memo billings or pre-billings); 

(h) Accounts subject to contractual arrangements between Borrower and an Account Debtor where payments shall be scheduled
or due according to completion or fulfillment requirements where the Account Debtor has a right of offset for damages suffered as a result of Borrower’s failure to perform in accordance with the contract (sometimes called contracts accounts
receivable, progress billings, milestone billings, or fulfillment contracts); 
 (i) Accounts owing from an
Account Debtor the amount of which may be subject to withholding based on the Account Debtor’s satisfaction of Borrower’s complete performance (but only to the extent of the amount withheld; sometimes called retainage billings);

 (j) Accounts subject to trust provisions, subrogation rights of a bonding company, or a statutory trust;

 (k) Accounts owing from an Account Debtor that has been invoiced for goods that have not been shipped to the
Account Debtor unless Bank, Borrower, and the Account Debtor have entered into an agreement acceptable to Bank in its sole discretion wherein the Account Debtor acknowledges that (i) it has title to and has ownership of the goods wherever
located, (ii) a bona fide sale of the goods has occurred, and (iii) it owes payment for such goods in accordance with invoices from Borrower (sometimes called “bill and hold” accounts); 

(l) Accounts for which the Account Debtor has not been invoiced; 

(m) Accounts that represent non-trade receivables or that are derived by means other than in the ordinary course of
Borrower’s business; 
 (n) Accounts subject to chargebacks or other payment deductions taken by an Account
Debtor; 
 (o) Accounts arising from product returns and/or exchanges (sometimes called “warranty” or
“RMA” accounts); 

  
 25 

 (p) Accounts in which the Account Debtor disputes liability or makes any
claim (but only up to the disputed or claimed amount), or if the Account Debtor is subject to an Insolvency Proceeding, or becomes insolvent, or goes out of business; 

(q) with respect to requested Advances based upon Eligible Accounts (but not Aggregate Eligible Accounts), Accounts owing
from an Account Debtor with respect to which Borrower has received Deferred Revenue (but only to the extent of such Deferred Revenue); 
 (r) with respect to requested Advances based upon Aggregate Eligible Accounts, Accounts owing from an Account Debtor, fifty percent (50.0%) or more of whose Accounts have not been paid within one
hundred twenty (120) days of invoice date; and 
 (s) Accounts for which Bank in its good faith business
judgment determines collection to be doubtful upon notice thereof to Borrower, including, without limitation, accounts represented by “refreshed” or “recycled” invoices. 

“Equipment” is all “equipment” as defined in the Code with such additions to such term as may hereafter be
made, and includes without limitation all machinery, fixtures, goods, vehicles (including motor vehicles and trailers), and any interest in any of the foregoing. 
 “ERISA” is the Employee Retirement Income Security Act of 1974, and its regulations. 
 “Events of Default” are set forth in Section 8 of this Agreement. 
 “Exchange Act” is the Securities Exchange Act of 1934, as amended. 
 “Facility Amount” is Ten Million Dollars ($10,000,000.00). 

“Finance Charges” is defined in Section 2.5 of this Agreement. 

“Financed Receivables” are all those Eligible Accounts and Aggregate Eligible Accounts, including their proceeds which
Bank finances and makes an Advance, as set forth in Section 2.1.1 of this Agreement. A Financed Receivable stops being a Financed Receivable (but remains Collateral) when the Advance made for the Financed Receivable has been fully paid.

 “Financed Receivable Balance” is the total outstanding gross face amount, at any time, of any Financed
Receivable. 
 “Foreign Currency” means lawful money of a country other than the United States. 

“FX Business Day” is any day when (a) Bank’s Foreign Exchange Department is conducting its normal
business and (b) the Foreign Currency being purchased or sold by Borrower is available to Bank from the entity from which Bank shall buy or sell such Foreign Currency. 

“FX Forward Contract” is defined in Section 2.1.3. 

“FX Reduction Amount” is defined in Section 2.1.3. 

“GAAP” is generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting
Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other Person as may be approved by a significant segment of
the accounting profession, which are applicable to the circumstances as of the date of determination. 
 “Governmental
Approval” is any consent, authorization, approval, order, license, franchise, permit, certificate, accreditation, registration, filing or notice, of, issued by, from or to, or other act by or in respect of, any Governmental Authority.

  
 26 

 “Governmental Authority” is any nation or government, any state or
other political subdivision thereof, any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative functions of or pertaining to
government, any securities exchange and any self-regulatory organization. 
 “Guarantor” is any present
or future guarantor of the Obligations. 
 “Indebtedness” is (a) indebtedness for borrowed money or the
deferred price of property or services, such as reimbursement and other obligations for surety bonds and letters of credit, (b) obligations evidenced by notes, bonds, debentures or similar instruments, (c) capital lease obligations and
(d) Contingent Obligations. 
 “Indemnified Person” is defined in Section 12.2 of this Agreement.

 “Initial Audit” is Bank’s inspection of Borrower’s Accounts, the Collateral, and Borrower’s
Books with results satisfactory to Bank in its sole and absolute discretion. 
 “Insolvency Proceeding” is any
proceeding by or against any Person under the United States Bankruptcy Code, or any other bankruptcy or insolvency law, including assignments for the benefit of creditors, compositions, extensions generally with its creditors, or proceedings seeking
reorganization, arrangement, or other relief. 
 “Intellectual Property” means all of Borrower’s right,
title, and interest in and to the following: 
 (a) its Copyrights, Trademarks and Patents; 

(b) any and all trade secrets and trade secret rights, including, without limitation, any rights to unpatented inventions,
know-how, operating manuals; 
 (c) any and all source code; 

(d) any and all design rights which may be available to a Borrower; 

(e) any and all claims for damages by way of past, present and future infringement of any of the foregoing, with the
right, but not the obligation, to sue for and collect such damages for said use or infringement of the Intellectual Property rights identified above; and 
 (f) all amendments, renewals and extensions of any of the Copyrights, Trademarks or Patents. 
 “Inventory” is all “inventory” as defined in the Code in effect on the Effective Date with such additions to such term as may hereafter be made, and includes without limitation
all merchandise, raw materials, parts, supplies, packing and shipping materials, work in process and finished products, including without limitation such inventory as is temporarily out of Borrower’s custody or possession or in transit and
including any returned goods and any documents of title representing any of the above. 
 “Investment” is any
beneficial ownership of (including stock, partnership interest or other securities) any Person, or any loan, advance or capital contribution to any Person. 
 “Key Person” is either of Borrower’s Chief Executive Officer or its Chief Financial Officer. 
 “Letter of Credit” means a standby letter of credit issued by Bank or another institution based upon an application, guarantee, indemnity or similar agreement on the part of Bank,
including, without limitation, as set forth in Section 2.1.2. 
 “Letter of Credit Application” is defined
in Section 2.1.2(a). 
 “Letter of Credit Reserve” has the meaning set forth in Section 2.1.2(d).

  
 27 

 “Lien” is a claim, mortgage, deed of trust, levy, charge, pledge, security
interest or other encumbrance of any kind, whether voluntarily incurred or arising by operation of law or otherwise against any property. 
 “Loan Documents” are, collectively, this Agreement, the Perfection Certificate, the SVB Control Agreement, the Borrowing Resolutions, any subordination agreements, any note, or notes or
guaranties executed by Borrower and/or any Guarantor, and any other present or future agreement between Borrower and/or any Guarantor and/or for the benefit of Bank in connection with this Agreement, all as amended, restated, or otherwise modified.

 “Loan Fee” is defined in Section 2.4 of this Agreement. 

“Lockbox” is defined in Section 2.9 of this Agreement. 

“Material Adverse Change” is: (a) a material impairment in the perfection or priority of Bank’s Lien in the
Collateral or in the value of such Collateral; (b) a material adverse change in the business, operations, or condition (financial or otherwise) of Borrower; or (c) a material impairment of the prospect of repayment of any portion of the
Obligations. 
 “Maturity Date” is two (2) years from the Effective Date. 

“Obligations” are Borrower’s obligations to pay when due any debts, principal, interest, Bank Expenses and other
amounts Borrower owes Bank now or later, whether under this Agreement, the Loan Documents, or otherwise, including, without limitation, all obligations relating to letters of credit (including reimbursement obligations for drawn and undrawn letters
of credit), cash management services, and foreign exchange contracts, if any, and including interest accruing after Insolvency Proceedings begin and debts, liabilities, or obligations of Borrower assigned to Bank, and to perform Borrower’s
duties under the Loan Documents. 
 “Operating Documents” are, for any Person, such Person’s formation
documents, as certified with the Secretary of State of such Person’s state of formation on a date that is no earlier than 30 days prior to the Effective Date, and, (a) if such Person is a corporation, its bylaws in current form,
(b) if such Person is a limited liability company, its limited liability company agreement (or similar agreement), and (c) if such Person is a partnership, its partnership agreement (or similar agreement), each of the foregoing with all
current amendments or modifications thereto. 
 “Patents” means all patents, patent applications and like
protections including without limitation improvements, divisions, continuations, renewals, reissues, extensions and continuations-in-part of the same. 
 “Perfection Certificate” is defined in Section 5.1 of this Agreement. 
 “Permitted Acquisition” means a transaction whereby Borrower merges or consolidates, or permits any of its Subsidiaries to merge or consolidate, with any other Person, or acquires, or
permits any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, under all of the following conditions: 
 (a) the total aggregate consideration to be paid by Borrower or its Subsidiaries (including the value of Borrower’s or its Subsidiaries’ stock issued by Borrower or its Subsidiaries) in
connection therewith in all of the contemplated transactions during the term of the Agreement does not exceed Fifteen Million Dollars ($15,000,000.00); 
 (b) the party or parties being acquired is in the same or a substantially similar line of business as Borrower; 
 (c) the transaction shall be accretive to Borrower’s EBITDA on a non-GAAP basis within four (4) quarters; 
 (d) no Event of Default has occurred and is continuing or would exist after giving effect to the transaction; 

  
 28 

 (e) Borrower survives such transaction; 

(f) no Indebtedness will be incurred, assumed, or would exist with respect to Borrower or its Subsidiaries as a result of
the contemplated transaction, other than Permitted Indebtedness, and no Liens will be incurred, assumed, or would exist with respect to the assets of Borrower or its Subsidiaries as a result of the contemplated transaction, other than Permitted
Liens; and 
 (g) any Person whose capital stock is acquired or any Subsidiary that acquires assets in such
contemplated transaction shall, contemporaneously with the consummation of the transaction, become a co-borrower or Guarantor (unless otherwise agreed to by Bank in its sole discretion) hereunder (as determined by Bank in its sole discretion) and
shall grant a Lien in all of its assets (other than Intellectual Property) to Bank, all on documentation acceptable to Bank in its discretion. 
 “Permitted Indebtedness” is: 
 (a) Borrower’s
Indebtedness to Bank under this Agreement and the other Loan Documents; 
 (b) Indebtedness existing on the
Effective Date which is shown on the Perfection Certificate; 
 (c) Subordinated Debt; 

(d) unsecured Indebtedness to trade creditors incurred in the ordinary course of business; 

(e) Indebtedness incurred as a result of endorsing negotiable instruments received in the ordinary course of business; and

 (f) extensions, refinancings, modifications, amendments and restatements of any items of Permitted
Indebtedness (a) through (e) above, provided that the principal amount thereof is not increased or the terms thereof are not modified to impose more burdensome terms upon Borrower or its Subsidiary, as the case may be. 

“Permitted Investments” are: 
 (a) Investments (including, without limitation, Subsidiaries) existing on the Effective Date which are shown on the Perfection Certificate (but specifically excluding any future Investments in any
Subsidiaries unless otherwise permitted hereunder); 
 (b) Investments consisting of Cash Equivalents;

 (c) Investments consisting of travel advances or other loans to employees in the ordinary course of business
not exceeding Twenty-Five Thousand Dollars ($25,000.00) in the aggregate at any time; and 
 (d) Investments
(including debt obligations) received in connection with the bankruptcy or reorganization of customers or suppliers or in settlement of delinquent obligations of or disputes with customers or suppliers arising in the ordinary course of business.

 “Permitted Liens” are: 

(a) Liens existing on the Effective Date which are shown on the Perfection Certificate or arising under this Agreement and
the other Loan Documents; 
 (b) Liens for taxes, fees, assessments or other government charges or levies, either
(i) not due and payable or (ii) being contested in good faith and for which Borrower maintains adequate reserves on Borrower’s Books, provided that no notice of any such Lien has been filed or recorded under the Internal
Revenue Code of 1986, as amended, and the Treasury Regulations adopted thereunder; 
 (c) purchase money Liens
(i) on Equipment acquired or held by Borrower incurred for financing the acquisition of the Equipment securing no more than Four Million Dollars ($4,000,000.00) in the aggregate amount outstanding, or (ii) existing on Equipment when
acquired, if the Lien is confined to the property and improvements and the proceeds of the Equipment; 

  
 29 

 (d) Leases or subleases and non-exclusive licenses or sublicenses granted in
the ordinary course of Borrower’s business, if the leases, subleases, licenses and sublicenses permit granting Bank a security interest; and 
 (e) Liens incurred in the extension, renewal or refinancing of the indebtedness secured by Liens described in (a) through (d), but any extension, renewal or replacement Lien must be limited to
the property encumbered by the existing Lien and the principal amount of the indebtedness may not increase. 

“Person” is any individual, sole proprietorship, partnership, limited liability company, joint venture, company, trust,
unincorporated organization, association, corporation, institution, public benefit corporation, firm, joint stock company, estate, entity or government agency. 
 “Prime Rate” is the greater of (a) four percent (4.0%) and (b) Bank’s most recently announced “prime rate,” even if it is not Bank’s lowest rate.

 “Quick Assets” is, on any date, Borrower’s consolidated unrestricted and unencumbered cash and
net billed accounts receivable as set forth on Borrower’s most recent consolidated balance sheet delivered to Bank pursuant to Section 6.2(a)(i), determined according to GAAP.  

“Reconciliation Period” is each calendar month. 

“Registered Organization” is any “registered organization” as defined in the Code with such additions to such
term as may hereafter be made. 
 “Requirement of Law” is as to any Person, the organizational or governing
documents of such Person, and any law (statutory or common), treaty, rule or regulation or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to or binding upon such Person or any of its property or to
which such Person or any of its property is subject. 
 “Responsible Officer” is any of the Chief
Executive Officer, President, Chief Financial Officer and Controller of Borrower.  
 “Restricted
License” is any material license or other agreement with respect to which Borrower is the licensee (a) that prohibits or otherwise restricts Borrower from granting a security interest in Borrower’s interest in such license or
agreement or any other property, or (b) for which a default under or termination of could interfere with Bank’s right to sell any Collateral. 
 “SEC” shall mean the Securities and Exchange Commission, any successor thereto, and any analogous Governmental Authority. 

“Securities Account” is any “securities account” as defined in the Code with such additions to such term as
may hereafter be made. 
 “Settlement Date” is defined in Section 2.1.3. 

“Streamline Facility Eligible” means, as of any day during any Subject Month, Borrower has provided evidence to Bank
that it (a) had an Adjusted Quick Ratio of at least 1.0 to 1.0 at all times during the applicable Testing Month, and (b) has an Adjusted Quick Ratio of at least 1.0 to 1.0 on such day. 

“Subject Month” is the month which is two (2) calendar months after any Testing Month. 

“Subordinated Debt” is indebtedness incurred by Borrower subordinated to all of Borrower’s now or hereafter
indebtedness to Bank (pursuant to a subordination, intercreditor, or other similar agreement in form and substance satisfactory to Bank entered into between Bank and the other creditor), on terms acceptable to Bank. 

  
 30 

 “Subsidiary” is, as to any Person, a corporation, partnership, limited
liability company or other entity of which shares of stock or other ownership interests having ordinary voting power (other than stock or such other ownership interests having such power only by reason of the happening of a contingency) to elect a
majority of the board of directors or other managers of such corporation, partnership or other entity are at the time owned, or the management of which is otherwise controlled, directly or indirectly through one or more intermediaries, or both, by
such Person. Unless the context otherwise requires, each reference to a Subsidiary herein shall be a reference to a Subsidiary of Borrower. 
 “SVB Control Agreement” is that certain Securities Account Control Agreement by and among SVB Securities, Penson Financial Services, Inc., Borrower, and Bank of even date herewith.

 “Testing Month” is any month with respect to which Bank has tested Borrower’s Adjusted Quick Ratio to
determine whether Borrower is Streamline Facility Eligible. 
 “Total Liabilities” is on any day, obligations
that should, under GAAP, be classified as liabilities on Borrower’s consolidated balance sheet, including all Indebtedness. 
 “Trademarks” means any trademark and servicemark rights, whether registered or not, applications to register and registrations of the same and like protections, and the entire goodwill of
the business of Borrower connected with and symbolized by such trademarks. 
 “Transfer” is defined in
Section 7.1 of this Agreement. 
 [Signature page follows.] 

  
 31 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as a sealed
instrument under the laws of the Commonwealth of Massachusetts as of the Effective Date. 
  

			
	 BORROWER 
  

BRIGHTCOVE INC.

		
	By:	 	/s/ Christopher A. Menard
	Name:	 	Christopher A. Menard
	Title:	 	Treasurer
	
	 BANK 
  

SILICON VALLEY BANK

		
	By:	 	/s/ Kate Leland
	Name:	 	Kate Leland
	Title:	 	Vice President

  
 32 

 EXHIBIT A 

The Collateral consists of all of Borrower’s right, title and interest in and to the following: 

All goods, equipment, inventory, contract rights or rights to payment of money, leases, license agreements, franchise agreements, general
intangibles (including payment intangibles) accounts (including health-care receivables), documents, instruments (including any promissory notes), chattel paper (whether tangible or electronic), cash, deposit accounts, fixtures, letters of credit
rights (whether or not the letter of credit is evidenced by a writing), commercial tort claims, securities, and all other investment property, supporting obligations, and financial assets, whether now owned or hereafter acquired, wherever located;
and any copyright rights, copyright applications, copyright registrations and like protections in each work of authorship and derivative work, whether published or unpublished, now owned or later acquired; any patents, trademarks, service marks and
applications therefor; trade styles, trade names, any trade secret rights, including any rights to unpatented inventions, know-how, operating manuals, license rights and agreements and confidential information, now owned or hereafter acquired; or
any claims for damages by way of any past, present and future infringement of any of the foregoing; and 
 All Borrower’s
books relating to the foregoing and any and all claims, rights and interests in any of the above and all substitutions for, additions, attachments, accessories, accessions and improvements to and replacements, products, proceeds and insurance
proceeds of any or all of the foregoing. 
 Notwithstanding the foregoing, the Collateral shall not be deemed to include any
copyrights (including computer programs, blueprints and drawings), copyright applications, copyright registration and like protection in each work of authorship and derivative work thereof, whether published or unpublished, now owned or hereafter
acquired; any design rights; any patents, patent applications and like protections including without limitation improvements, divisions, continuations, renewals, reissues, extensions and continuations-in-part of the same, trademarks, servicemarks
and applications therefor, whether registered or not, except that the Collateral shall include all accounts, license and royalty fees and other revenues, proceeds, or income arising out of or relating to any of the foregoing. 

  
 1 

 EXHIBIT B 

 
 SPECIALTY FINANCE DIVISION 

Compliance Certificate 
 I, an authorized officer of BRIGHTCOVE INC. (“Borrower”) certify under the Loan and Security Agreement (as amended, the “Agreement”) between Borrower and Silicon Valley Bank
(“Bank”) as follows (all capitalized terms used herein shall have the meaning set forth in the Agreement): 
 Borrower represents
and warrants for each Financed Receivable: 
 Each Financed Receivable is an Eligible Account; 

Borrower is the owner with legal right to sell, transfer, assign and encumber such Financed Receivable; 

The correct amount is on the Advance Request and Invoice Transmittal and is not disputed; 
 Payment is not contingent on any obligation or contract and Borrower has fulfilled all its obligations as of the Advance Request and Invoice Transmittal date; 

Each Financed Receivable is based on an actual sale and delivery of goods and/or services rendered, is due to Borrower, is not past due or in default,
has not been previously sold, assigned, transferred, or pledged and is free of any liens, security interests and encumbrances other than Permitted Liens; 
 There are no defenses, offsets, counterclaims or agreements for which the Account Debtor may claim any deduction or discount; 
 Borrower reasonably believes no Account Debtor is insolvent or subject to any Insolvency Proceedings; 
 Borrower has not filed or had filed against it Insolvency Proceedings and does not anticipate any filing; 
 Bank has the right to endorse and/or require Borrower to endorse all payments received on Financed Receivables and all proceeds of Collateral; and 
 No representation, warranty or other statement of Borrower in any certificate or written statement given to Bank in respect of a Financed Receivable contains any untrue statement of a material fact or
omits to state a material fact necessary to make the statement contained in the certificates or statement not misleading in light of the circumstances in which they were made. 
 Additionally, Borrower represents and warrants as follows: 
 Borrower and each Subsidiary is
duly existing and in good standing in its state of formation and qualified and licensed to do business in, and in good standing in, any state in which the conduct of its business or its ownership of property requires that it be qualified except
where the failure to do so could not reasonably be expected to cause a Material Adverse Change. The execution, delivery and performance of the Loan Documents have been duly authorized, and do not conflict with Borrower’s organizational
documents, nor constitute an event of default under any material agreement by which Borrower is bound. Borrower is not in default under any agreement to which or by which it is bound in which the default could reasonably be expected to cause a
Material Adverse Change. 

  
 2 

 Borrower has good title to the Collateral, free of Liens except Permitted Liens. All inventory is in all
material respects of good and marketable quality, free from material defects. 
 Borrower is not an “investment company” or a company
“controlled” by an “investment company” under the Investment Company Act of 1940, as amended. Neither Borrower nor any of its Subsidiaries is a “holding company” or an “affiliate” of a “holding
company” or a “subsidiary company” of a “holding company” as each term is defined and used in the Public Utility Holding Company Act of 2005. Borrower is not engaged as one of its important activities in extending credit for
margin stock (under Regulations X, T and U of the Federal Reserve Board of Governors). Borrower has complied in all material respects with the Federal Fair Labor Standards Act. Borrower has not violated any laws, ordinances or rules, the violation
of which could reasonably be expected to cause a Material Adverse Change. None of Borrower’s or any Subsidiary’s properties or assets have been used by Borrower or any Subsidiary or, to the best of Borrower’s knowledge, by previous
Persons, in disposing, producing, storing, treating, or transporting any hazardous substance other than legally. Borrower and each Subsidiary has timely filed all required tax returns and paid, or made adequate provision to pay, all material taxes,
except those being contested in good faith with adequate reserves under GAAP. Borrower and each Subsidiary has obtained all consents, approvals and authorizations of, made all declarations or filings with, and given all notices to, all government
authorities that are necessary to continue its business as currently conducted except where the failure to obtain or make such consents, declarations, notices or filings would not reasonably be expected to cause a Material Adverse Change.

 Streamline Facility Eligibility 
  

											
	 	  	Required	 	  	Actual	 	  	Eligible
	 Adjusted Quick Ratio
	  	 	>1.0:1.0	  	  	 	    :1.0	  	  	Yes  No

 All other representations and warranties in the Agreement are true and correct in all material respects
on this date, and Borrower represents that there is no existing Event of Default. 
 Sincerely, 

BRIGHTCOVE INC. 

	
	
	  
	 Signature

 

	 Title

 

	Date

  
 3 

 EXHIBIT C 

NON-STREAMLINE 

Invoice Transmittal 
  

			
	 Client Name:
	  	Brightcove

  

					
	 Date Submitted:
	  	March 31, 2011	  	Transmittal #: ____________

  

											
	 Invoice #
	  	Customer Name	  	Customer Address	  	Invoice Date	  	Invoice Amount	 
		  		  		  		  			
		  		  		  		  			
		  		  		  		  			
		  		  		  		  			
		  		  		  		  			
		  		  		  		  			
		  		  		  		  			
		  		  		  	Gross Total	  	$	0.00	  
		  		  		  	Advance Rate	  	 	80	% 
		  		  		  	Net Cash Advance	  	 	$0.00	  

 Comments: 

The Borrower (“Borrower”) named on this Invoice Transmittal (“Transmittal”), hereby delivers this Transmittal to Silicon Valley Bank
(“Bank”) pursuant to a Loan and Security Agreement between Borrower and Bank (“Agreement”). By forwarding this Transmittal along with copies of the invoices listed herein, Borrower is requesting Bank to make advances
(“Advances”) based on such receivables in accordance with the terms of the Agreement and hereby represents and warrants that the request has been made by an authorized representative of Borrower with full right, power and authority to
deliver this Transmittal to Bank. Borrower acknowledges that such Advances (together with all fees, interest and other charges associated with such Advances) shall be repaid in accordance with the terms of the Agreement. Borrower hereby ratifies and
reaffirms all of its representations and warranties in the Agreement, including, without limitation, Borrower’s representations set forth in Section 5.3 thereof. 

 

									
	 For SVB Use Only
	 	  	  	 Disbursement
Instructions

	 Date
	 		 	  	 SVB DDA #
	  	
	 AM Approval
	 		 	  	 Wire To
	  	
	 PM/TL Approval
	 		 	  	 ABA #
	  	
	 SCO Approval
	 		 	  	 Account #
	  	

  
 4 

 STREAMLINE 
 Invoice Transmittal 
  

			
	 Client Name:
	  	Brightcove

  

					
	 Date Submitted:
	  	March 31, 2011	  	Transmittal #: ____________

  

											
	 Invoice #
	  	Customer Name	  	Customer Address	  	Invoice Date	  	Invoice Amount	 
		  	Placeholder	  		  		  			
		  		  		  		  			
		  		  		  		  			
		  		  		  		  			
		  		  		  		  			
		  		  		  		  			
		  		  		  		  			
		  		  		  	Gross Total	  	$	0.00	  
		  		  		  	Advance Rate	  	 	100	% 
		  		  		  	Net Cash Advance	  	$	0.00	  

 Comments:  
 The Borrower (“Borrower”) named on this Invoice Transmittal (“Transmittal”), hereby delivers this Transmittal to Silicon Valley Bank (“Bank”) pursuant to a Loan and Security
Agreement between Borrower and Bank (“Agreement”). By forwarding this Transmittal along with copies of the invoices listed herein, Borrower is requesting Bank to make advances (“Advances”) based on such receivables in accordance
with the terms of the Agreement and hereby represents and warrants that the request has been made by an authorized representative of Borrower with full right, power and authority to deliver this Transmittal to Bank. Borrower acknowledges that such
Advances (together with all fees, interest and other charges associated with such Advances) shall be repaid in accordance with the terms of the Agreement. Borrower hereby ratifies and reaffirms all of its representations and warranties in the
Agreement, including, without limitation, Borrower’s representations set forth in Section 5.3 thereof. 
  

									
	 For SVB Use Only
	 	  	  	 Disbursement
Instructions

	 Date
	 		 	  	 SVB DDA #
	  	
	 AM Approval
	 		 	  	 Wire To
	  	
	 PM/TL Approval
	 		 	  	 ABA #
	  	
	 SCO Approval
	 		 	  	 Account #
	  	

  
 5 

 EXHIBIT D 

BORROWING BASE CERTIFICATE 
  

 
 Borrower: Brightcove Inc. 

Lender: Silicon Valley Bank 
 Commitment Amount:
$8,000,000.00 
  

					
	 ACCOUNTS RECEIVABLE
	  			
	 1. Accounts Receivable (domestic and foreign) (invoiced) Book Value as of
                        
	  	$	_______________	  
	 2. Additions (please explain on next page)
	  	$	_______________	  
	 3. Less: Intercompany / Employee / Non-Trade Accounts
	  	$	_______________	  
	 4. NET TRADE ACCOUNTS RECEIVABLE
	  	$	_______________	  
		
	 ACCOUNTS RECEIVABLE DEDUCTIONS (without duplication)
	  			
	 5. Affiliate/Intercompany/Employee Accounts
	  	$	_______________	  
	 6. 120 Days Past Invoice Date
	  	$	_______________	  
	 7. Balance of 50% over 120 Day Accounts (cross-age or current affected)
	  	$	_______________	  
	 8. Accounts billed and/or payable outside the United States
	  	$	_______________	  
	 9. Contra/Customer Deposit Accounts
	  	$	_______________	  
	 10 U.S. Government Accounts w/o assignment of claims
	  	$	_______________	  
	 11. Promotion or Demo Accounts; Guaranteed Sale or Consignment Sale Accounts
	  	$	_______________	  
	 12. Accounts with Memo or Pre-Billings
	  	$	_______________	  
	 13. Contract Accounts; Accounts with Progress/Milestone Billings
	  	$	_______________	  
	 14. Accounts for Retainage Billings
	  	$	_______________	  
	 15. Trust / Bonded Accounts
	  	$	_______________	  
	 16. Bill and Hold Accounts
	  	$	_______________	  
	 17. Unbilled Accounts
	  	$	_______________	  
	 18. Non-Trade Accounts (if not already deducted above)
	  	$	_______________	  
	 19. Accounts with Extended Term Invoices (Net 120+)
	  	$	_______________	  
	 20. Chargebacks Accounts / Debit Memos
	  	$	_______________	  
	 21. Product Returns/Exchanges
	  	$	_______________	  
	 22. Disputed Accounts; Insolvent Account Debtor Accounts
	  	$	_______________	  
	 23. Other (please explain on next page)
	  	$	_______________	  
	 24. TOTAL ACCOUNTS RECEIVABLE DEDUCTIONS
	  	$	_______________	  
	 25. Eligible Accounts (#4 minus #24)
	  	$	_______________	  
	 26. ELIGIBLE AMOUNT OF ACCOUNTS (80.0% of #25)
	  	$	_______________	  
		
	 BALANCES
	  			
	 27. Maximum Loan Amount
	  	$	8,000,000.00	  
	 28. Total Funds Available (Lesser of #26 or 27)
	  	$	_______________	  
	 29. Present balance owing on Line of Credit
	  	$	_______________	  
	 30. Outstanding under Sublimits (LC/FX/Cash Management)
	  	$	_______________	  
	 31. RESERVE POSITION (#28 minus #29 and #30)
	  	$	_______________	  

 [Continued on following page.] 

  
 6 

 Explanatory comments from previous page: 

 
  
  

 
  

 
  

 
 The undersigned represents and warrants that
this is true, complete and correct, and that the information in this Borrowing Base Certificate complies with the representations and warranties in the Loan and Security Agreement between the undersigned and Silicon Valley Bank. 

 

									
	 COMMENTS:
  

BRIGHTCOVE INC.
	 		 	 BANK USE ONLY
 Received by: _____________________

                    AUTHORIZED
SIGNER

	By:	 	 	 		 		 	 Date: __________________________
 Verified: ________________________

          AUTHORIZED SIGNER

		 	Authorized Signer	 		 		 	Date: ___________________________
	Date:	 	 	 		 		 	Compliance Status:     Yes     No

  
 7 

 FIRST LOAN MODIFICATION AGREEMENT 

This First Loan Modification Agreement (this “Loan Modification Agreement”) is entered into as of June 24, 2011, by and
between SILICON VALLEY BANK, a California corporation, with its principal place of business at 3003 Tasman Drive, Santa Clara, California 95054 and with a loan production office located at 275 Grove Street, Suite 2-200, Newton,
Massachusetts 02466 (“Bank”) and BRIGHTCOVE INC., a Delaware corporation with its principal place of business at One Cambridge Center, Cambridge, Massachusetts 02142 (“Borrower”). 

1. DESCRIPTION OF EXISTING INDEBTEDNESS AND OBLIGATIONS. Among other indebtedness and obligations which may be owing by Borrower to Bank, Borrower
is indebted to Bank pursuant to a loan arrangement dated as of March 30, 2011, evidenced by, among other documents, a certain Loan and Security Agreement dated as of March 30, 2011, between Borrower and Bank (the “Loan
Agreement”). Capitalized terms used but not otherwise defined herein shall have the same meaning as in the Loan Agreement. 
 2.
DESCRIPTION OF COLLATERAL. Repayment of the Obligations is secured by the Collateral as described in the Loan Agreement (together with any other collateral security granted to Bank, the “Security Documents”). Hereinafter, the
Security Documents, together with all other documents evidencing or securing the Obligations shall be referred to as the “Existing Loan Documents”. 
 3. DESCRIPTION OF CHANGE IN TERMS. 
  

	 	A.	Modifications to Loan Agreement. 

  

	 	1	The Loan Agreement shall be amended by deleting the following text, appearing in Section 2.1.1: 

“(g) Maturity. This Agreement shall terminate and all Obligations outstanding hereunder shall be immediately
due and payable in full on the Maturity Date.” 
 and inserting in lieu thereof the following: 

“(g) Maturity. All Obligations outstanding hereunder (i) with respect to Credit Extensions other than
those made pursuant to Section 2.1.5 shall be immediately due and payable in full on the Maturity Date or earlier termination of this Agreement, and (ii) with respect to Credit Extensions made pursuant to Section 2.1.5 shall be
immediately due and payable in full on the applicable Term Advance Maturity Date or earlier termination of this Agreement.” 
  

	 	2	The Loan Agreement shall be amended by deleting the following text, appearing in Section 2.1.1(b): 

“(ii) The sum of (A) the aggregate amount of the Dollar Equivalent amount of outstanding Letters of Credit
(including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve) issued pursuant to Section 2.1.2, plus (B) the FX Reduction Amount, plus (C) the sum of amounts utilized for Cash Management Services pursuant to
Section 2.1.4, may not exceed Two Million Five Hundred Thousand Dollars ($2,500,000.00) in the aggregate at any time.” 

  
 1 

 and inserting in lieu thereof the following: 

“(ii) The sum of (A) the aggregate amount of the Dollar Equivalent amount of outstanding Letters of Credit
(including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve) issued pursuant to Section 2.1.2, plus (B) the FX Reduction Amount, plus (C) the sum of amounts utilized for Cash Management Services pursuant to
Section 2.1.4, may not exceed Three Million Dollars ($3,000,000.00) in the aggregate at any time.” 
  

	 	3	The Loan Agreement shall be amended by inserting the following new Section 2.1.5, appearing immediately after Section 2.1.4 thereof: 

 

	 	“	2.1.5 Term Advances. 

 (a) Availability. On the 2011 Effective Date, subject to the satisfaction of the terms and conditions of this Agreement, Borrower shall request and Bank shall make one (1) term loan in an
amount equal to Five Million Dollars ($5,000,000.00). During the Draw Period, subject to the satisfaction of the terms and conditions of this Agreement, upon Borrower’s request Bank shall make up to two (2) term loans in an aggregate
amount not exceeding Two Million Dollars ($2,000,000.00). Any term loan made pursuant to this Section 2.1.5(a) is hereinafter referred to, singly, as a “Term Advance” and, collectively, as the “Term Advances”.

 (b) Interest Payments. Commencing on the first (1st) Payment Date following the Funding Date for each Term Advance
(or commencing on the Funding Date if the Funding Date is the first (1st) calendar day of the month), and continuing on the Payment Date of each month thereafter, Borrower shall make monthly payments of interest, in arrears, on the principal amount of each Term Advance
at the rate set forth in Section 2.1.5(d). 
 (c) Repayment. Commencing on the Amortization Date for
each Term Advance, and continuing on the Payment Date of each month thereafter, Borrower shall repay each Term Advance in (i) thirty six (36) equal monthly installments of principal, plus (ii) monthly payments of accrued interest at
the rate set forth in Section 2.1.5(d) (each, a “Term Advance Payment”). Borrower’s final Term Advance Payment for each respective Term Advance, due on the applicable Term Advance Maturity Date, shall include all
outstanding principal, all accrued and unpaid interest under with respect to such Term Advance and the Final Payment for such Term Advance. Once repaid, no Term Advance (or any portion thereof) may be reborrowed. 

(d) Interest. 
 (i) Interest Rate. Subject to Section 2.1.5(d)(ii), the principal amount for each Term Advance shall accrue interest at a floating per annum rate equal to seven percent (7.00%) above the
Prime Rate, which interest shall be payable monthly. 

  
 2 

 (ii) Default Rate. Immediately upon the occurrence and during the
continuance of an Event of Default, Obligations in connection with the Term Advances shall bear interest at the Default Rate. Fees and expenses which are required to be paid by Borrower pursuant to the Loan Documents (including, without limitation,
Bank Expenses) but are not paid when due shall bear interest until paid at a rate equal to the highest rate applicable to the Obligations pursuant to Section 2.1.5(d)(i). Payment or acceptance of the increased interest rate provided in this
Section 2.1.5(d)(ii) is not a permitted alternative to timely payment and shall not constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Bank. 

(iii) Adjustment to Interest Rate. Changes to the interest rate applicable to the Term Advances based on changes
to the Prime Rate shall be effective on the effective date of any change to the Prime Rate and to the extent of any such change. 
 (iv) Computation; 360-Day Year. In computing interest, the date of the making of any Term Advance shall be included and the date of payment shall be excluded; provided, however, that if any
Term Advance is repaid on the same day on which it is made, such day shall be included in computing interest on such Term Advance. Interest shall be computed on the basis of a 360-day year for the actual number of days elapsed. 

(v) Interest Payment Date. Unless otherwise provided, interest is payable monthly on the first Business Day of
each calendar month. 
 (e) Final Payment. Borrower shall pay to Bank the Final Payment with respect to
each Term Advance, when due hereunder. 
 (f) Borrowing Procedure. Subject to the prior satisfaction of
all other applicable conditions to the making of a Term Advance set forth in this Agreement, to obtain a Term Advance, Borrower shall notify Bank (which notice shall be irrevocable) by electronic mail, facsimile, or telephone by 12:00 noon Eastern
time on the Funding Date of the Term Advance. Together with any such electronic or facsimile notification, Borrower shall deliver to Bank by electronic mail or facsimile a completed Payment/Advance Form executed by a Responsible Officer or his or
her designee. Bank may rely on any telephone notice given by a person whom Bank believes is a Responsible Officer or designee. Bank shall credit Term Advances to an account of Borrower with Bank. Bank may make Term Advances under this Agreement
based on instructions from a Responsible Officer or his or her designee or without instructions if the Term Advances are necessary to meet Obligations which have become due.” 

  
 3 

	 	4	The Loan Agreement shall be amended by deleting the following text, appearing in Section 2.11.2: 

“The demand may, at Bank’s option, include any and all Credit Extensions, and all accrued Finance Charges, interest, Collateral
Handling Fees, Bank Expenses and any other Obligations.” 
 and inserting in lieu thereof the following: 

“The demand may, at Bank’s option, include any and all Credit Extensions, and all accrued Finance Charges, interest, Collateral
Handling Fees, any Final Payment, Bank Expenses and any other Obligations.” 
  

	 	5	The Loan Agreement shall be amended by deleting the following, appearing as Section 3.2: 

“ 3.2 Conditions Precedent to all Credit Extensions. Bank’s agreement to make each Credit
Extension, including the initial Credit Extension, is subject to the following: 
 (a) receipt of the Advance
Request and Invoice Transmittal; 
 (b) Bank shall have (at its option) conducted the confirmations and
verifications as described in Section 2.1.1(d) of this Agreement; 
 (c) each of the representations and
warranties in Section 5.3 of this Agreement shall be true and accurate on the date of the Advance Request and Invoice Transmittal and on the effective date of each Credit Extension and no Event of Default shall have occurred and be continuing,
or result from the Credit Extension. Each Credit Extension is Borrower’s representation and warranty on that date that the representations and warranties in Section 5.3 of this Agreement are true and accurate; and 

(d) each of the representations and warranties in this Agreement (other than in Section 5.3) shall be true and
accurate in all material respects on the date of the Advance Request and Invoice Transmittal and on the effective date of each Credit Extension and no Event of Default shall have occurred and be continuing, or result from the Credit Extension. Each
Credit Extension is Borrower’s representation and warranty on that date that the representations and warranties in this Agreement (other than in Section 5.3) are true and accurate in all material respects.” 

  
 4 

 and inserting in lieu thereof the following: 

“ 3.2 Conditions Precedent to all Credit Extensions. Bank’s agreement to make each Credit
Extension, including the initial Credit Extension, is subject to the following: 
 (a) receipt of (i) with
respect to requests for Credit Extensions (other than Term Advances), the Advance Request and Invoice Transmittal, or (ii) with respect to requests for a Term Advance, timely receipt of an executed Payment/Advance Form; 

(b) Bank shall have (at its option) conducted the confirmations and verifications as described in Section 2.1.1(d);
and 
 (c) each of the representations and warranties in Section 5.3 of this Agreement shall be true and
accurate on the date of the Advance Request and Invoice Transmittal or Payment/Advance Form, as applicable, and on the effective date of each Credit Extension and no Event of Default shall have occurred and be continuing, or result from the Credit
Extension. Each Credit Extension is Borrower’s representation and warranty on that date that the representations and warranties in Section 5.3 of this Agreement are true and correct as of such date; and 

(d) each of the representations and warranties in this Agreement (other than in Section 5.3) shall be true and
accurate in all material respects on the date of the Advance Request and Invoice Transmittal or Payment/Advance Form, as applicable, and on the effective date of each Credit Extension and no Event of Default shall have occurred and be continuing, or
result from the Credit Extension. Each Credit Extension is Borrower’s representation and warranty on that date that the representations and warranties in this Agreement (other than in Section 5.3) are true and correct in all material
respects as of such date.” 
  

	 	6	The Loan Agreement shall be amended by deleting the following definition, appearing in Section 13.1 thereof: 

“ “Credit Extension” is any Advance, Letter of Credit, FX Forward Contract, amount utilized for Cash Management
Services, or any other extension of credit by Bank for Borrower’s benefit.” 
 and inserting in lieu thereof the
following: 
 “ “Credit Extension” is any Advance, Term Advance, Letter of Credit, FX Forward Contract,
amount utilized for Cash Management Services, or any other extension of credit by Bank for Borrower’s benefit.” 
  

	 	7	The Loan Agreement shall be amended by inserting the following new definitions, appearing alphabetically in Section 13.1 thereof: 

“ “2011 Effective Date” is June 24, 2011”. 

“ “Amortization Date” is, for each Term Advance, the first (1st) calendar Day of the month that is the thirteenth (13th) month after the Funding Date with respect to such Term Advance
(or if such Funding Date was the first (1st) calendar
day of a month, the month that is the twelfth
(12th) month after such Funding Date).”

  
 5 

 “ “Draw Period” is the period of time from the 2011 Effective Date
through the earliest to occur of (a) December 31, 2011, and (b) an Event of Default.” 
 “
“Final Payment” is a payment (in addition to and not a substitution for the regular monthly payments of interest or principal and interest, as applicable) with respect to each Term Advance due on the earlier to occur of (a) the
Term Advance Maturity Date, (b) the acceleration of the Term Advance, or (c) any voluntary or involuntary prepayment of the Term Advance, equal to the original principal amount of the Term Advance multiplied by the Final Payment
Percentage.” 
 “ “Final Payment Percentage” is two percent (2.0%).” 

“ “Funding Date” is any date on which an Term Advance is made to or for the account of Borrower which shall be a
Business Day.” 
 “ “Payment/Advance Form” is that certain form attached hereto as Exhibit
E.” 
 “ “Payment Date” is the first (1st) calendar day of each month.” 

“ “Term Advance” or “Term Advances” is defined in Section 2.1.5(a).” 

“ “Term Advance Maturity Date” is, for each Term Advance, the Payment Date of the month which
is the thirty-fifth (35th) month after the
Amortization Date with respect to such Term Advance.” 
 “ “Term Advance Payment” is defined in
Section 2.1.5(c).” 
  

	 	8	The Payment/Advance Form attached hereto as Schedule 1 shall hereby appear as Exhibit E to the Loan Agreement. 

4. FEES. Borrower shall pay to Bank a modification fee equal to Twenty Thousand Dollars ($20,000.00), which fee shall be due on the date hereof
and shall be deemed fully earned as of the date hereof. Borrower shall also reimburse Bank for all legal fees and expenses incurred in connection with this amendment to the Existing Loan Documents. 

5. PERFECTION CERTIFICATE. Borrower hereby ratifies, confirms and reaffirms, all and singular, the terms and disclosures contained in a certain
Perfection Certificate dated as of June 24, 2011, and acknowledges, confirms and agrees the disclosures and information above Borrower provided to Bank in the Perfection Certificate have not changed, as of the date hereof. Borrower hereby
acknowledges and agrees that all references in the Loan Agreement to Perfection Certificate shall mean and include the Perfection Certificate as described herein. 
 6. CONSISTENT CHANGES. The Existing Loan Documents are hereby amended wherever necessary to reflect the changes described above. 
 7. RATIFICATION OF LOAN DOCUMENTS. Borrower hereby ratifies, confirms, and reaffirms all terms and conditions of all security or other collateral granted to the Bank, and confirms that the
indebtedness secured thereby includes, without limitation, the Obligations. 

  
 6 

 8. NO DEFENSES OF BORROWER. Borrower hereby acknowledges and agrees that Borrower has no offsets,
defenses, claims, or counterclaims against Bank with respect to the Obligations, or otherwise, and that if Borrower now has, or ever did have, any offsets, defenses, claims, or counterclaims against Bank, whether known or unknown, at law or in
equity, all of them are hereby expressly WAIVED and Borrower hereby RELEASES Bank from any liability thereunder. 
 9. CONTINUING
VALIDITY. Borrower understands and agrees that in modifying the existing Obligations, Bank is relying upon Borrower’s representations, warranties, and agreements, as set forth in the Existing Loan Documents. Except as expressly modified
pursuant to this Loan Modification Agreement, the terms of the Existing Loan Documents remain unchanged and in full force and effect. Bank’s agreement to modifications to the existing Obligations pursuant to this Loan Modification Agreement in
no way shall obligate Bank to make any future modifications to the Obligations. Nothing in this Loan Modification Agreement shall constitute a satisfaction of the Obligations. It is the intention of Bank and Borrower to retain as liable parties all
makers of Existing Loan Documents, unless the party is expressly released by Bank in writing. No maker will be released by virtue of this Loan Modification Agreement. 
 10. COUNTERSIGNATURE. This Loan Modification Agreement shall become effective only when it shall have been executed by Borrower and Bank. 

[The remainder of this page is intentionally left blank] 

  
 7 

 This Loan Modification Agreement is executed as a sealed instrument under the laws of the
Commonwealth of Massachusetts as of the date first written above. 
  

									
	BORROWER:	 		 	BANK:
			
	BRIGHTCOVE INC.	 		 	SILICON VALLEY BANK
					
	By:	 	/s/ Christopher A. Menard	 		 	By:	 	/s/ Kate Leland
	Name:	 	Christopher A. Menard	 		 	Name:	 	Kate Leland
	Title:	 	CFO and Treasurer	 		 	Title:	 	Vice President

  
 8 

 SCHEDULE 1 

EXHIBIT E 

LOAN PAYMENT/ADVANCE REQUEST FORM 
 DEADLINE FOR SAME DAY PROCESSING IS NOON EASTERN TIME

  

			
	Fax To:	  	Date:                     

 LOAN PAYMENT: 

Brightcove Inc. 
  

							
	From Account
#                                         
                               	  	To Account
#                                         
                                       

	 (Deposit Account #)
	  	 (Loan Account #)
	  		  	
	 Principal
$                                         
                                       

	  	and/or
Interest                                       
                                     
		
	 Authorized
Signature:                                       
             
	  	Phone
Number:                                        
                    
	 Print
Name/Title:                                       
         
	  	
		  

 LOAN ADVANCE: 
 Complete Outgoing Wire Request section below if all or a portion of the funds from this loan advance are for an outgoing wire. 

 

					
	From Account
#                                         
                                   	  	To
Account#                                       
                                         

	 (Loan Account #)
	  	 (Deposit Account #)
	  	
		  	
	Amount of Term Advance
$                                         
               	  	

 All Borrower’s representations and warranties in the Loan and Security Agreement are true and correct in all
material respects on the date of the request for an advance; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof;
and provided, further that those representations and warranties expressly referring to a specific date shall be true and correct in all material respects as of such date: 

 

			
	 Authorized
Signature:                                       
                         
	  	Phone
Number:                                        
                                
	 Print
Name/Title:                                       
                                 
	  	

 OUTGOING WIRE REQUEST: 

Complete only if all or a portion of funds from the loan advance above is to be wired. 
 Deadline for same day processing is noon, Eastern Time 
  

			
	Beneficiary Name:
                                         
                               	  	Amount of Wire:
$                                         
                               
	Beneficiary Bank:
                                         
                               	  	Account
Number:                                        
                                
	City and
State:                                        
                            	  	
		
	Beneficiary Bank Transit (ABA)
#:                                    	  	Beneficiary Bank Code (Swift, Sort, Chip,
etc.):                    
		  	 (For International Wire Only)

		
	Intermediary
Bank:                                        
                        	  	Transit (ABA)
#:                                        
                        

  
 9 

 For Further Credit
to:                                        
                                         
                                         
                                         
  
 Special
Instruction:                                       
                                         
                                         
                                         
       
 By signing below, I (we) acknowledge and agree that my (our) funds transfer request shall be
processed in accordance with and subject to the terms and conditions set forth in the agreements(s) covering funds transfer service(s), which agreements(s) were previously received and executed by me (us). 

 

			
	Authorized
Signature:                                       
                                 	  	2nd Signature (if required):
	____________________________________________	  	 
	Print Name/Title:
                                         
                   	  	Print Name/Title:                         
                                         
          
	Telephone #:             	  	Telephone #:

  
 10

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