Document:

Exhibit 10.32

 

ASSUMPTION AND ATTORNMENT AGREEMENT

 

THIS ASSUMPTION AND ATTORNMENT
AGREEMENT (“this
Agreement”), is made as of the 31 day of October, 2003, by and between ARCHIPELAGO
HOLDINGS, L.L.C., an Illinois limited liability company
(“Archipelago”), and MJH WACKER LLC,  a Delaware limited liability company (“Owner”).

 

RECITALS

 

A.                                   Owner and Archipelago have entered into that
certain Office Lease of even date herewith (the “Archipelago Lease”), pursuant
to which Archipelago has leased from Owner certain office space (the
“Archipelago Premises”) on 17th and 18th floors of the
building located at 100 South Wacker Drive, Chicago, Illinois 60606 (the
“Building”).

 

B.                                     Owner (or its predecessors-in-interest) and
Townsend Analytics, Ltd. (“Townsend”) have entered into that certain lease
dated as of June 3, 1996, as amended, a copy of which is attached hereto
as Exhibit A and incorporated herein by reference (the “Townsend Leases”),
pursuant to which Townsend is leasing certain space in the Building (the “Townsend
Premises”) which includes a data room comprising approximately eleven thousand
nine hundre four (11,904) square feet of rentable area on Lower Level 2 of the
Building and known as Suite LL2-005 and on Lower Level 2 of the building owned
by Owner located at 150 South Wacker Drive, Chicago, Illinois and known as
Suite LL2-34 (collectively, the “LL2 Data Room”) and a data room comprising
approximately three thousand (3,000) square feet of rentable area on 20th
floor of the Building as shown on Exhibit D attached hereto and incorporated
herein by reference (the “20th Floor Data Room” and collectively
with the LL2 Data Room, the “Data Rooms”).

 

C.                                     In conjunction with Townsend’s lease of the
LL2 Data Room pursuant to the Townsend Lease, Owner’s predecessor-in-interest
and Townsend have entered into that certain Generator Development and License
Agreement dated as of April 13, 2001, as amended, a copy of which is
attached hereto as Exhibit B and incorporated herein by reference (the
“Generator Agreement”), and that certain Supplemental HVAC System Operating and
License Agreement dated as July 31, 2002, a copy of which is attached
hereto as Exhibit C and incorporated herein by reference (the “HVAC
Agreement”).

 

D.                                    Archipelago is a significant user of the data
processing and related facilities located in the Data Rooms pursuant to a
separate agreement between Archipelago and Townsend.

 

E.                                      Recognizing that Archipelago’s continued
ability to use the data processing and related facilities located in the Data
Rooms is of critical importance to the ability of Archipelago to conduct its
business in the Archipelago Premises, Owner and the Archipelago desire to
establish certain rights, safeguards, obligations and priorities with regard to
their respective interests in the Townsend Lease with respect to the Data
Rooms, the Generator Agreement and the HVAC Agreement.

 

NOW THEREFORE, in consideration of the mutual covenants of
the parties set forth herein and other good and valuable consideration,
Archipelago and Owner agree as follows:

 

1.                                       Subject to the provisions of Section 4
hereof, as used herein, the term “Townsend Lease” shall include the Townsend
Lease (as defined in Recital B above) and (i) all amendments thereto 

 

 

entered
into subsequent to the date of this Agreement and (ii) any and all renewal or
extension options thereunder exercised subsequent to the date of this
Agreement.

 

2.                                       Provided the Archipelago Lease is in full
force and effect and no default by Archipelago then exists thereunder, Owner
and Archipelago agree that:

 

(a)                                  if the Townsend Lease shall terminate, expire
or otherwise be terminated, rejected or disaffirmed (including rejection or
disaffirmation by Townsend pursuant to any bankruptcy, insolvency or other law
affecting creditors’ rights) or Owner shall elect to exercise its right to
re-enter the Townsend Premises without terminating the Townsend Lease, then
notwithstanding such termination, expiration, disaffirmation or re-entry, the
Townsend Lease with respect to the Data Rooms shall continue as a direct lease
between Owner, as Landlord, and Archipelago, as Tenant, upon all of the terms,
covenants, conditions and agreements set forth in the Townsend Lease as are
applicable to the Data Rooms, for the period up to and including the earlier to
occur of (i) the expiration or earlier termination of the term of the
Archipelago Lease or Archipelago’s right to possession of the Archipelago
Premises, and Archipelago covenants and agrees to assume all of the obligations
and liabilities Tenant thereafter arising under the Townsend Lease as are
applicable to the Data Rooms and to attorn to Owner thereunder. Archipelago
acknowledges that the 20th Floor Data Room is part of the entire 20th
floor of the Building that is presently being leased by Townsend under the Townsend
Lease and that if Archipelago assumes the Townsend Lease with respect to the
Data Rooms as provided herein, it will be necessary for Owner to separately
demise the 20th Floor Data Room from the remainder of the 20th
floor of the Building and to a create a Building standard multi-tenant corridor
and elevator lobby on such floor. Accordingly, Archipelago agrees that in such
event, it shall, within thirty (30) days after written demand, reimburse Owner,
as additional rent under the Townsend Lease as assumed by Archipelago, for all
design, engineering, permitting and construction costs incurred by Owner to
construct a Building standard multi-tenant corridor and elevator lobby on the
20th floor of the Building and to separately demise the 20th
Floor Data Room and provide direct access thereto from such corridor
(including, without limitation, separation of any utilities serving such
corridor and elevator lobby and the 20th Floor Data Room and causing
such corridor and elevator lobby and the 20th Floor Data Room to
comply all then applicable laws, codes, regulations and ordinances). In
addition, upon completion of the demising of the 20th Floor Data
Room, Owner shall remeasure the rentable area thereof using the then current
space measurement standard for the Building, which remeasurement shall be
deemed to be the rentable area of the 20th Floor Data Room for all
purposes under the Townsend Lease as assumed by Archipelago hereunder (or if
applicable, the amendment to the Archipelago Lease adding the Data Rooms to the
Archipelago Premises), including, without limitation, for the determination of
rent and other charges payable by Archipelago thereunder with respect to the 20th
Floor Data Room. For the purposes of this Section 2(a), a renewal or
extension of the term of the Townsend Lease as to all or any portion or
portions of the Townsend Premises shall not be deemed to be an expiration or
termination thereof.

 

(b)                                 if the Generator Agreement shall terminate,
expire or otherwise be terminated, rejected or disaffirmed (including rejection
or disaffirmation by Townsend pursuant to any bankruptcy, insolvency or other
law affecting creditors’ rights), then notwithstanding such termination,
expiration, rejection or disaffirmation, the 

 

 

Generator Agreement shall continue as a direct
agreement between Owner and Archipelago, as Licensee, upon all of the terms,
covenants, conditions and agreements set forth therein, for the period up to
and including the expiration or earlier termination of the term of the
Archipelago Lease or Archipelago’s right to possession of the Archipelago
Premises, mid Archipelago covenants and agrees to assume all of the obligations
and liabilities of Licensee thereafter arising under the Generator Agreement
and to attorn to Owner thereunder.

 

(c)                                  if the HVAC Agreement shall terminate, expire
or otherwise be terminated, rejected or disaffirmed (including rejection or
disaffirmation by Townsend pursuant to any bankruptcy, insolvency or other law
affecting creditors’ rights), then notwithstanding such termination,
expiration, rejection or disaffirmation, the HVAC Agreement shall continue as a
direct agreement between Owner and Archipelago, as Licensee, upon all of the
terms, covenants, conditions and agreements set forth therein, for the period
up to and including the expiration or earlier termination of the term of the
Archipelago Lease or Archipelago’s right to possession of the Archipelago
Premises, and Archipelago covenants and agrees to assume all of the obligations
and liabilities of Licensee thereafter arising under the HVAC Agreement and to
attorn to Owner thereunder.

 

3.                                       In the event of an assumption and attornment
by Archipelago of any or all of (i) the Townsend Lease with respect to the Data
Rooms, (ii) the Generator Agreement and/or (iii) the HVAC Agreement as provided
in Section 2 above, Archipelago shall be obligated to promptly cure all
non-monetary defaults under each such assumed agreement(s) existing on the
respective date(s) of such assumption and attornment, provided that Archipelago
shall not be obligated to cure (i) any monetary defaults under such assumed
agreement(s) existing on the respective date(s) of such assumption and
attornment nor (ii) any defaults (monetary or non-monetary) under the Townsend
Lease with respect to any portion of the Townsend Premises other than the Data
Rooms.

 

4.                                       In consideration of Archipelago’s covenant to
assume and attorn to Owner as set forth above, Owner covenants that during the
Term of the Archipelago Lease, Owner shall not, without the prior written
consent of Archipelago, modify or amend (a) the Townsend Lease with respect to
the Data Rooms, (b) the Generator Agreement or (c) the HVAC Agreement, the
effect of which modification or amendment would be to increase the rent or
other charges payable thereunder, shorten the term thereof, or materially
increase the obligations or reduce or impair the rights of Archipelago
thereunder, in the event Archipelago assumes such agreement(s) and attorns to
Owner thereunder pursuant to this Agreement.

 

5.                                       At any time after the date Archipelago
assumes the Townsend Lease with respect to the 20th Floor Data Room
and attorns to Owner thereunder as provided herein (or the date the Archipelago
Lease is amended to add the 20th Floor Data Room to the Archipelago
Premises thereunder as provided in Section 8 below), Owner shall have the
right to substitute for the 20th Floor Data Room other premises
within the Building (the “New Data Room”), provided that the New Data Room
shall be of comparable size and shall either have substantially the same
configuration (including all associated infrastructure, such as data and
telecom cabling and connectivity, utilities, back-up power and supplemental
HVAC, meeting or exceeding the technical specifications set forth on Exhibit E
attached hereto (collectively, “Associated Infrastructure”)) as the 20th
Floor Data Room or a configuration (including Associated Infrastructure)
substantially as usable for the purposes for which 20th Floor Data
Room are being used by Archipelago. Archipelago shall vacate 

 

 

and
surrender the 20th Floor Data Room on or before the later of (A) the sixtieth
(60th) day after the date Owner gives notice of substitution or (B) the day
after (1) Owner has substantially completed the work to be done by Owner in the
New Data Room pursuant to this Section 5 and (ii) Archipelago has
confirmed, to its reasonable satisfaction, that the property, fixtures, cabling
and equipment installed or reinstalled in the New Data Room and Associated
Infrastructure are functioning at a level meeting or exceeding the technical
specifications set forth on Exhibit E attached hereto (and as to which
Archipelago agrees to conduct all necessary testing and optimization thereof as
expeditiously as is reasonably practicable). As of the earlier of the date of
such vacation and surrender or the date when such vacation and surrender is
required, the New Data Room shall be deemed part of the Premises under the
Townsend Lease as assumed by Archipelago hereunder (or the Archipelago Premises
in the event the Archipelago Lease is amended to add the 20th Floor
Data Room to the Archipelago Premises thereunder as provided in Section 8
below) and the 20th Floor Data Room shall cease to be part of Premises under
the Townsend Lease as assumed by Archipelago hereunder (or the Archipelago
Premises in the event the Archipelago Lease is amended to add the 20th
Floor Data Room to the Archipelago Premises thereunder as provided in
Section 8 below). Owner shall (i) prior to commencing the work to be done
by Owner in the New Data Room pursuant to this Section 5, provide
Archipelago with a reasonably detailed budget showing Owner’s good faith
estimate of all out-of-pocket expenses to be incurred in connection with
moving, installing and/or reinstalling Archipelago’s property, fixtures,
cabling and equipment from the 20th Floor Data Room to the New Data Room, and
to improve the New Data Room so that they are substantially similar to the 20th
Floor Data Room (including Associated Infrastructure), (ii) pay for the actual
and reasonable out-of-pocket expenses incurred in connection with moving,
installing and/or reinstalling its property, fixtures, cabling and equipment
from the 20th Floor Data Room to the New Data Room (unless
Archipelago elects to pay all or a portion of such costs directly, in which
case Owner shall promptly reimburse Archipelago for such costs paid by
Archipelago upon presentation of paid invoices therefore to Owner), and (iii)
improve the New Data Room, at Owner’s sole cost and expense, so that they are substantially
similar to the 20th Floor Data Room (including Associated
Infrastructure).  However, instead of
paying Archipelago’s expenses incurred in connection with moving, installing
and/or reinstalling its property, fixtures, cabling and equipment, Owner may
elect to either move, install and/or reinstall Archipelago’s property,
fixtures, cabling and equipment or provide personnel to do so under
Archipelago’s direction, in which event such move, installation and/or
reinstallation may not be made except during evenings, weekends or holidays, so
as to incur the least inconvenience to Archipelago. Archipelago shall not be
entitled to any compensation for any inconvenience or interference with
Archipelago’s business, nor to any abatement or reduction in rent or other
charges payable by Archipelago under the Townsend Lease as assumed by
Archipelago hereunder or under the Archipelago Lease, nor shall .-archipelago’s
obligations under the Townsend Lease as assumed by Archipelago hereunder or the
Archipelago Lease be otherwise affected, as a result of the substitution of the
New Data Room, except as otherwise expressly provided in this Section 5.
Archipelago agrees to cooperate with Owner so as to facilitate the prompt
completion by Owner of its obligations hereunder. Without limiting the
generality of the preceding sentence, Archipelago agrees to promptly provide to
Owner such approvals, instructions, plans, specifications and other information
as may be reasonably requested by Owner in connection with such obligations.
Upon substitution of the New Data Room for the 20th Floor Data Room, the
rentable area of the New Data Room shall be substituted for the rentable area
of the 20th Floor Data Room for all purposes under the Townsend Lease as
assumed by Archipelago hereunder (or under the Archipelago Lease in the event
the Archipelago Lease is amended 

 

 

to
add the 20th Floor Data Room to the Archipelago Premises thereunder
as provided in Section 8 below), including, without limitation,
recalculating and adjusting the base rent and Archipelago’s proportionate share
based on the rentable area of the New Data Room (provided that in no event
shall the base rent and/or proportionate share with respect to the New Data
Room be increased over the corresponding amounts that would have been in effect
for the 20th Floor Data Room had the substitution not occurred). At
Owner’s request, Archipelago shall execute a supplement to the Townsend Lease
as assumed by Archipelago hereunder (or to the Archipelago Lease in the event
the Archipelago Lease is amended to add the 20th Floor Data Room to
the Archipelago Premises thereunder as provided in Section 8 below),
confirming the substitution of the New Data Room for the 20th Floor
Data Room. Any failure of Archipelago to surrender possession of the 20th Floor
Data Room as and when required by this Section 5 shall be deemed a holding
over by Archipelago pursuant to the Townsend Lease as assumed by Archipelago
hereunder (or to the Archipelago Lease in the event the Archipelago Lease is
amended to add the 20th Floor Data Room to the Archipelago Premises
thereunder as provided in Section 8 below).

 

6.                                       Owner shall, from and after the date hereof,
so long as the Archipelago Lease is in full force and effect and no Default by
Archipelago then exists thereunder, give to Archipelago, in the manner provided
herein for the giving of notice, copies of all formal notices of default and
demands to cure, termination notices, and change of address notices that Owner
may give to Townsend pursuant to the Townsend Lease, the Generator Agreement or
the HVAC Agreement. Owner acknowledges and agrees that Archipelago shall have
the right (but not the obligation), at Archipelago’s option, to cure any
default by Townsend under said agreement(s), within the same grace or cure
periods as are available to Townsend thereunder. Owner agrees to accept
performance by Archipelago of any of Townsend’s monetary or non-monetary
obligations under the said agreement(s), as if same were performed by Townsend.

 

7.                                       Notices given pursuant to the terms of this
Agreement shall be given in the same mariner as provided in the Archipelago
Lease.

 

8.                                       The above provisions shall be self-operative
and effective without execution of any further instruments on the part of
either party hereto. However, Archipelago agrees to execute and deliver to
Owner such other instruments, in a form reasonably acceptable to Archipelago,
as shall be reasonably requested by Owner in order to comply with these
provisions, including, without limitation in the event Archipelago assumes the
obligations of Townsend under the Townsend Lease with respect to the Data Rooms
as provided herein, an amendment to the Townsend Lease excluding therefrom all
portions of the Townsend Premises other than the data Rooms, effective as of
the date of such assumption, provided that at the request of either Owner or
Archipelago, Owner and Archipelago agree to enter into an amendment to the
Archipelago Lease adding the Data Rooms to the Archipelago Premises upon the
same rent and other economic terms applicable thereto under the Townsend Lease,
effective as of the date Archipelago would have assumed the Townsend Lease with
respect thereto, whereupon the Townsend Lease shall be deemed terminated and of
no further force and effect.

 

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

 

10.                                 This Agreement shall run with the land and
inure to the benefit of and be binding upon the parties and their successors
and assigns.

 

 

IN WITNESS
WHEREOF, the parties
hereto or their authorized representatives or officers have signed this
document as of the date first above written.

 

 

	
  OWNER:

  	
  TENANT:

  
	
   

  	
   

  
	
  MJH
  WACKER LLC, a
  Delaware

  	
  ARCHIPELAGO
  HOLDINGS, L.L.C.,

  
	
  Limited liability company

  	
  an Illinois limited liability company

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/JOHN B. GRISSIM

  	
   

  	
  By:

  	
  /s/NELSON CHAI

  	
   

  
	
   

  	
   

  
	
  Name:

  	
  John B. Grissim

  	
  Name:

  	
   

  	
  Nelson Chai

  	
   

  
	
   

  	
  Vice President

  	
  Its:

  	
   

  	
  CFO

  	
   

  
										

 

 

EHIBIT A

 

Copy of the Townsend Lease

 

 

LEASE

 

HARTFORD PLAZA

100-150 SOUTH WACKER DRIVE

CHICAGO, ILLINOIS

 

 

RREEF USA FUND-I HARTFORD PLAZA, INC.,

 

Landlord

 

TOWNSEND ANALYTICS, LTD.,

 

Tenant

 

 

Suite: 
2040

 

Building: 
100 South Wacker Drive

 

 

TABLE
OF CONTENTS

 

	
  Article

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.

  	
   

  	
  US AND RESTRICTIONS
  ON USE

  	
   

  	
   

  
	
  2.

  	
   

  	
  TERM

  	
   

  	
   

  
	
  3.

  	
   

  	
  RENT

  	
   

  	
   

  
	
  4.

  	
   

  	
  RENT ADJUSTMENTS

  	
   

  	
   

  
	
  5.

  	
   

  	
  SECURITY DEPOSIT

  	
   

  	
   

  
	
  6.

  	
   

  	
  ALTERATIONS

  	
   

  	
   

  
	
  7.

  	
   

  	
  REPAIR

  	
   

  	
   

  
	
  8.

  	
   

  	
  LIENS

  	
   

  	
   

  
	
  9.

  	
   

  	
  ENVIRONMENTAL
  MATTERS

  	
   

  	
   

  
	
  10.

  	
   

  	
  ASSIGNMENT
  AND SUBLETTING

  	
   

  	
   

  
	
  11.

  	
   

  	
  INDEMNIFICATION

  	
   

  	
   

  
	
  12.

  	
   

  	
  INSURANCE

  	
   

  	
   

  
	
  13.

  	
   

  	
  WAIVER
  OF SUBROGATION

  	
   

  	
   

  
	
  14.

  	
   

  	
  SERVICES
  AND UTILITIES

  	
   

  	
   

  
	
  15.

  	
   

  	
  HOLDING OVER

  	
   

  	
   

  
	
  16.

  	
   

  	
  SUBORDINATION

  	
   

  	
   

  
	
  17.

  	
   

  	
  RULES
  AND REGULATIONS

  	
   

  	
   

  
	
  18.

  	
   

  	
  REENTRY
  BY LANDLORD; PERFORMANCE OF TENANT’S OBLIGATIONS

  	
   

  	
   

  
	
  19.

  	
   

  	
  DEFAULT

  	
   

  	
   

  
	
  20.

  	
   

  	
  REMEDIES

  	
   

  	
   

  
	
  21.

  	
   

  	
  TENANT’S
  BANKRUPTCY OR INSOLVENCY

  	
   

  	
   

  
	
  22.

  	
   

  	
  QUIET ENJOYMENT

  	
   

  	
   

  
	
  23.

  	
   

  	
  DAMAGE BY FIRE, ETC

  	
   

  	
   

  
	
  24.

  	
   

  	
  EMINENT DOMAIN

  	
   

  	
   

  
	
  25.

  	
   

  	
  SALE BY
  LANDLORD

  	
   

  	
   

  
	
  26.

  	
   

  	
  ESTOPPEL
  CERTIFICATE

  	
   

  	
   

  
	
  27.

  	
   

  	
  SURRENDER
  OF PREMISES

  	
   

  	
   

  
	
  28.

  	
   

  	
  NOTICES

  	
   

  	
   

  
	
  29.

  	
   

  	
  TAXES PAYABLE
  BY TENANT

  	
   

  	
   

  
	
  30.

  	
   

  	
  LANDLORD’S
  LIENS

  	
   

  	
   

  
	
  31.

  	
   

  	
  RELOCATION
  OF TENANT

  	
   

  	
   

  
	
  32.

  	
   

  	
  REMOVAL OF TENANT’S
  PROPERTY

  	
   

  	
   

  
	
  33.

  	
   

  	
  DEFINED TERMS AND HEADINGS

  	
   

  	
   

  
	
  34.

  	
   

  	
  TENANT’S
  AUTHORITY

  	
   

  	
   

  
	
  35.

  	
   

  	
  ENFORCEABILITY

  	
   

  	
   

  
	
  36.

  	
   

  	
  COMMISSIONS

  	
   

  	
   

  
	
  37.

  	
   

  	
  TIME
  AND APPLICABLE LAW

  	
   

  	
   

  
	
  38.

  	
   

  	
  SUCCESSORS
  AND ASSIGNS

  	
   

  	
   

  
	
  39.

  	
   

  	
  ENTIRE
  AGREEMENT

  	
   

  	
   

  
	
  40.

  	
   

  	
  EXAMINATION
  NOT OPTION

  	
   

  	
   

  
	
  41.

  	
   

  	
  RECORDATION

  	
   

  	
   

  
	
  42.

  	
   

  	
  LIMITATION
  OF LANDLORD’S LIABILITY

  	
   

  	
   

  
	
  43.

  	
   

  	
  RIGHT OF
  FIRST OFFER

  	
   

  	
   

  
	
  44.

  	
   

  	
  TERMINATION
  OPTION

  	
   

  	
   

  
	
  45.

  	
   

  	
  OPTION TO RENEW

  	
   

  	
   

  
	
  46.

  	
   

  	
  LICENSE TO USE ROOFTOP
  SPACE

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  REFERENCE PAGE

  	
   

  	
   

  
	
   

  	
   

  	
  SIGNATURE
  BLOCKS

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  EXHIBIT A - PREMISES

  	
   

  	
   

  
	
   

  	
   

  	
  EXHIBIT A-1 - OPTION
  PREMISES

  	
   

  	
   

  
	
   

  	
   

  	
  EXHIBIT B - INITIAL
  ALTERATIONS

  	
   

  	
   

  
	
   

  	
   

  	
  EXHIBIT C - RULES AND
  REGULATIONS

  	
   

  	
   

  

 

 

OFFICE LEASE

REFERENCE PAGE

 

	
  BUILDING:

  	
   

  	
  100 South Wacker Drive

  
	
   

  	
   

  	
  Chicago, Illinois 60606

  
	
   

  	
   

  	
   

  
	
  LANDLORD:

  	
   

  	
  RREEF USA FUND-I HARTFORD PLAZA,

  INC., a Delaware corporation

  
	
   

  	
   

  	
   

  
	
  LANDLORD’S ADDRESS:

  	
   

  	
  Suite 620, 150 South Wacker Drive

  
	
   

  	
   

  	
  Chicago, IL 60606

  
	
   

  	
   

  	
   

  
	
  LEASE REFERENCE DATE:

  	
   

  	
  June 3, 1996

  
	
   

  	
   

  	
   

  
	
  TENANT:

  	
   

  	
  TOWNSEND ANALYTIC, LTD.

  
	
   

  	
   

  	
   

  
	
  TENANT’S ADDRESS:

  	
   

  	
   

  
	
  (a) As of beginning of Term:

  	
   

  	
  (a) Suite 2040, 100 S. Wacker Drive

  
	
  (b) Prior to beginning of Term

  	
   

  	
  Chicago, Illinois

  
	
  (if different):

  	
   

  	
  (b) Suite 1506, 100 S. Wacker Drive

  
	
   

  	
   

  	
  Chicago, Illinois

  
	
   

  	
   

  	
   

  
	
  PREMISES IDENTIFICATION:

  	
   

  	
  Suite Number 2040

  
	
   

  	
   

  	
  (for outline of Premises see Exhibit A attached to this Lease and
  made a part of this Lease by this reference)

  
	
   

  	
   

  	
   

  
	
  PREMISES RENTABLE AREA:

  	
   

  	
  approximately 9,166 sq. ft.

  
	
   

  	
   

  	
   

  
	
  USE:

  	
   

  	
  General Office Use

  
	
   

  	
   

  	
   

  
	
  SCHEDULED COMMENCEMENT DATE:

  	
   

  	
  [***]

  
	
   

  	
   

  	
   

  
	
  TERMINATION DATE:

  	
   

  	
  [***]

  
	
   

  	
   

  	
   

  
	
  TERM (or “Initial Term”) OF LEASE:

  	
   

  	
  [***]

  
	
   

  	
   

  	
   

  
	
  INITIAL ANNUAL RENT (Article 3):

  	
   

  	
  [***]

  
	
   

  	
   

  	
   

  
	
  INITIAL MONTHLY INSTALLMENT OF ANNUAL RENT (Article 3):

  	
   

  	
  [***]

  
	
  INITIAL ESTIMATED MONTHLY INSTALLMENTS OF RENT ADJUSTMENTS FOR DIRECT
  EXPENSES (Article 4):

  	
   

  	
  [***]

  
	
   

  	
   

  	
   

  
	
  INITIAL ESTIMATED MONTLY

  	
   

  	
   

  

 

 

*** Certain information on this page has been omitted and filed
separately with the Securities and Exchange Commission. Confidential treatement
has been requested with respect to the omitted portions.

 

 

	
  INSTALLMENTS OF RENT ADJUSTMENTS FOR TAXES (Article 4):

  	
   

  	
  [***]

  
	
   

  	
   

  	
   

  
	
  TOTAL INITIAL MONTHLY INSTALLMENTS OF RENT (Articles 3 & 4)

  	
   

  	
  [***]

  
	
   

  	
   

  	
   

  
	
  TENANT’S PROPORTIONATE SHARE:

  	
   

  	
  1.7222% (9,166 / 532,233 rsf)

  
	
   

  	
   

  	
   

  
	
  SECURITY DEPOSIT:

  	
   

  	
  None

  
	
   

  	
   

  	
   

  
	
  REAL ESTATE BROKER DUE COMMISSION:

  	
   

  	
  Cushman & Wakefield of Illinois, Inc.

  

 

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

 

	
  LANDLORD:

  	
  TENANT:

  
	
   

  	
   

  
	
  RREEF USA FUND-I HARTFORD

  	
  TOWNSEND ANALYTICS, LTD.,

  
	
  PLAZA, INC., a Delaware corporation

  	
  an Illinois corporation

  
	
  By:  RREEF Management Company,

  	
   

  
	
  a California corporation

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
  Title:

  	
  General Mgr.

  	
   

  	
  Title:

  	
  Vice President

  	
   

  
	
  Dated:

  	
  6/10/96

  	
   

  	
  Dated:

  	
  6/7/96

  	
   

  
										

 

 

*** Certain information on this page has been omitted and filed
separately with the Securities and Exchange Commission. Confidential treatement
has been requested with respect to the omitted portions.

 

 

 

LEASE

 

By this Lease Landlord
Leases to Tenant and Tenant Leases from Landlord the Premises in the Building
as set forth and described on the Reference Page. The Reference Page, including
all terms defined thereon, is incorporated
as part of this Lease.

 

1.                                       USE AND RESTRICTIONS ON USE.  The Premises are to be used solely for the purposes stated on the
Reference Page. Tenant shall not
do or permit anything to be done in or about the Premises
which will in any way obstruct or interfere
with the rights of other
Tenant’s or occupants of the
Building or injure, annoy, or disturb them or allow the Premises to be used for any improper, immoral, unlawful,
or objectionable purpose. Tenant shall not do, permit or suffer in, on, or about the Premises the sale
of any alcoholic liquor as defined in the Illinois Liquor Control Act without
the written consent of Landlord first obtained, or the commission of any
waste.  Tenant shall comply with all
governmental laws, ordinances and regulations applicable to the use of the Premises and its
occupancy and shall promptly comply with
all governmental orders and directions for the correction, prevention
and abatement of any violations in
or upon, or in connection with, the Premises, all at Tenant’s sole expense.  Tenant shall not do or permit anything to be done on or about the Premises or bring or keep
anything into the Premises which will in
any way increase the rate of,
invalidate or prevent the
procuring of any insurance protecting against loss or damage to the
Building or any of its contents by fire
or other casualty or against liability for damage to
property or injury to persons in or about the Building or any part thereof.

 

2.                                       TERM.

 

2.1.                              The Term (if and as required by the
context, “Initial Term”) of this Lease shall begin on the date (“Commencement Date”) which shall be the later of the
Scheduled Commencement Date as shown on
the Reference Page and the date that
Landlord shall tender possession of the
Premises to Tenant.  Landlord shall tender possession of the Premises with all the work, if any, to be performed by Landlord
pursuant to Exhibit B to this Lease substantially completed. Tenant shall deliver a punch list of items not completed within 30 days after Landlord tenders possession of the Premises and
Landlord agrees to proceed with
due diligence to perform its obligations regarding such items.
Upon any extension of the Commencement
Date, the Termination Date shall be
extended to the same extent so that the Term of this Lease shall continue for the length of tine indicated on
the Reference Page unless sooner
terminated as provided in this Lease.
Landlord and Tenant shall execute
a memorandum setting forth the actual Commencement Date and Termination Date.

 

2.2.                              Tenant
agrees that in the event of the inability of Landlord to deliver possession of
the Premises on the Scheduled Commencement Date, Landlord shall not
be liable for any damage resulting
from such inability, but Tenant shall not be liable for any rent until the time when Landlord can,
after notice to Tenant, deliver possession of the Premises to
Tenant.  No such failure to give
possession on the Scheduled Commencement Date shall affect the other obligations of Tenant under this
Lease, except that if Landlord
is unable to deliver possession of

 

 

the Premises within one hundred twenty (120) days of the Scheduled
Commencement Date (other than as a result of strikes, shortages of materials or
similar matters beyond the reasonable control of Landlord and Tenant is
notified by Landlord in writing as to such delay), Tenant shall have the option
to terminate this Lease unless said delay is as a result of:  (a) Tenant’s failure to agree to plans and
specifications; (b) Tenant’s request for materials, finishes or installations
other than Landlord’s standard except as for such, if any, that Landlord shall
have expressly agreed to furnish without extension of time agreed by Landlord;
(c) Tenant’s change in any plans or specifications; or, (d) performance or
completion by a party employed by Tenant. 
If said delay is the result of any of the foregoing, the Commencement
Date and the payment of rent under this Lease shall be accelerated by the
number of days of such delay.

 

2.3.                              In
the event Landlord shall permit Tenant to occupy the Premises prior to the
Commencement Date, such occupancy shall be subject to all the provisions of
this Lease.  Said early possession shall
not advance the Termination Date.

 

2.                                       RENT

 

3.1.                              The
rate of Annual Rent and the Monthly Installments thereof to be in effect
throughout the Term of this Lease shall be as follows:

 

	
  Period

  	
   

  	
  Annual
  Rent

  	
   

  	
  Monthly
  Installment

  	
   

  
	
  [***]

  	
   

  	
  [***]

  	
   

  	
  [***]

  	
   

  

 

 

* For more than a 1 year period

 

3.2.                              Tenant
agrees to pay to Landlord the Annual Rent in effect from time to time by paying
the Monthly Installment of Rent then in effect on or before the first day of
each full calendar month during the Term, except that the first month’s rent
shall be paid upon the execution of this Lease.  The Monthly Installment of Rent in effect at any time shall be
one-twelfth of the Annual Rent in effect at such time.  Rent for any period during the Term which is
less than one (1) full month shall be a prorated portion of the Monthly
Installment of Rent based upon a thirty (30) day month.  Said rent shall be paid to Landlord, without
deduction or offset and without notice or demand, at the Landlord’s address, as
set forth on the Reference page, or to such other person or at such other place
as Landlord may from time to time designate in writing.

 

3.3.                              Tenant
recognizes that late payment of any rent or other sum due under this Lease will
result in administrative expense to Landlord, the extent of which additional
expense is extremely difficult and economically impractical to ascertain.  Tenant therefore agrees that if rent or any
other sum is not paid when due and payable pursuant to this Lease, such amount
shall bear interest at twelve percent (12%) per annum for the first ten (10)
days after due and when such amount remains due and unpaid for more than ten
(10) days after said amount is due, such interest shall be supplanted by a late
charge in an amount equal to the greater of: 
(a) Fifty Dollars ($50.00), or (b) a sum equal to five percent (5%) per month of the unpaid rent or
other payment.  The amount of the late charge to be paid by Tenant shall be
reassessed and added to Tenant’s obligation for each successive
monthly period until paid.  The provisions
of this

 

*** Certain information on this page has been omitted and filed
separately with the Securities and Exchange Commission. Confidential treatement
has been requested with respect to the omitted portions.

 

2

 

Section 3.3 in no way relieve Tenant
of the obligation to pay
rent or other payments on or before the date on which they are
due, nor do the terms of this Section 3.3 in any way affect Landlord’s
remedies pursuant to Article 20 of
this Lease in the event said rent or other payment is unpaid after date due.

 

3.4.                              No security or guarantee which may now or hereafter be furnished to Landlord for the payment of rent or the performance of Tenant’s other obligations under
this Lease shall in any way constitute
a bar to the recovery of the Premises or defense to any action in
unlawful detainer or to any other
action which Landlord may bring for a
breach of any of the terms, covenants
or conditions of this Lease.

 

4.                                       RENT ADJUSTMENTS

 

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

 

4.1.1.                     Lease Year:  Each calendar year falling
partly or wholly within the Term.

 

4.1.2.                     Direct Expenses:  All
direct costs of operation, maintenance, repair and management of the Building (including the reasonable amount of any credits which
Landlord may grant to particular tenants of the Building in lieu of providing any standard
services or paying any standard costs described in this
Section 4.1.2 for similar
tenants), as determined in accordance with generally accepted accounting principles, including the following costs by way of illustration, but not limitation:  water and sewer charges; insurance premiums of or relating to all insurance
policies and endorsements deemed by Landlord to be reasonably necessary or desirable and relating in any manner to
the protection, preservation, or operation of the Building or any part thereof
and if Landlord self insures or
carries deductibles in excess of $2,000.00,
amounts equal to the savings in premiums effected thereby as reasonably determined by Landlord;
utility costs, including, but not limited
to, the cost of heat, light, power, steam, gas, and waste disposal; the cost of janitorial
services; the cost of security and
alarm services; window cleaning costs;
labor costs; costs and
expenses of managing the Building including management fees; air conditioning
costs; elevator maintenance fees and supplies; material costs; equipment costs
including the cost of maintenance,
repair and service agreements and rental and leasing costs; purchase costs of equipment other than capital
items; current rental and leasing costs of
items which would be amortizable
capital items if purchased; tool costs;
licenses, permits and inspection fees; wages and salaries; employee benefits
and payroll taxes; accounting and
legal fees; any sales, use or service taxes incurred in connection therewith.

 

4.1.3.                     Direct Expenses shall not include depreciation or amortization of the Building or equipment in the Building
except as provided in Section 4.7
of this Lease, loan principal
payments, costs of alterations of
tenants’ premises,
leasing commissions, interest expenses on
long-term borrowings, advertising costs or management salaries for executive
personnel other than personnel located at the Building.

 

4.1.4.                     Taxes:  Real estate taxes and any other taxes,
charges and assessments which are levied with respect to the Building or the
land

 

3

 

appurtenant to the Building, or
with respect to any improvements, fixtures and equipment or other property of
Landlord, real or personal, located in the Building and used in connection with
the operation of the Building and said land, and/or any tax which shall be
levied in addition to or in lieu of real estate, possessory interest or
personal property taxes, any payments to any ground lessor in reimbursement of
tax payments made by such lessor; and all fees, expenses and costs incurred by
Landlord in investigating, protesting, contesting or in any way seeking to
reduce or avoid increase in any assessments, levies or the tax rate pertaining
to any Taxes to be paid by Landlord in any Lease Year.  Taxes shall not include any corporate
franchise, or estate, inheritance or net income tax, or tax imposed upon any
transfer by Landlord of its interest in this Lease or the Building.

 

4.2.                              Tenant
shall pay as additional rent for each Lease Year Tenant’s Proportionate Share
of Direct Expenses incurred and Taxes paid for said Lease Year. The annual
determination of Direct Expenses shall be made by Landlord and if certified by
a nationally recognized firm of public accountants selected by Landlord shall
be binding upon Landlord and Tenant. 
Tenant may review the books and records supporting such determination in the office of Landlord, or
Landlord’s agent, during normal business hours, upon giving Landlord five (5) days advance written notice within
sixty (60) days after receipt of such determination, but in no event more often
than once in any one year period.  In
the event that during all or any portion
of any Lease Year the Building is not fully
rented and occupied Landlord may make any appropriate adjustment in
occupancy-related Direct Expenses for such Lease Year for the purpose of avoiding distortion of the amount of such Direct Expenses to be attributed
to Tenant by reason of variation in total occupancy of the Building, by
employing sound accounting and management principles to determine Direct
Expenses that would have been paid
or incurred by Landlord had the Building been fully rented and occupied, and the
amount so determined shall be deemed to
have been Direct Expenses for
such Lease Year.

 

4.3.                              Prior
to the actual determination
thereof Landlord may from time to time estimate the amount of
Tenant’s Proportionate Share of
Direct Expenses or Taxes for any Lease Year or portion
thereof, at Landlord’s option including amounts
estimated to became due from Tenant on account of Taxes pursuant to Articles 6 and/or 29 of this Lease, and Tenant shall pay the amount to become due from Tenant, as so estimated, as additional
rent in equal monthly installments added to and becoming a part of the Monthly Installments of Rent due from Tenant under this
Lease in such Lease Year or portion thereof, at such rate that the full
estimated amount of Tenant’s Proportionate
Share of each payment of Direct Expenses or Taxes to be made by Landlord shall
have been paid to Landlord when or before
said payment by Landlord is due.  Initially, the monthly amount of such additional rent to be paid by Tenant shall be as set
forth on the Reference Page of this
Lease, but by written notice to Tenant Landlord may change the
amount of such additional rent
to be paid by Tenant at any time upon not less than twenty (20)

 

4

 

days notice, and each such
revised rate of monthly
installments of additional rent
shall remain in effect until revised
by further written notice to Tenant pursuant
to this Lease.

 

4.4.                              When the above mentioned actual
determination of Direct Expenses is made or the actual bill or bills for the Taxes to be paid by Landlord in any Lease Year is issued and Tenant is so
notified in writing, then:

 

4.4.1.                     If the total additional rent Tenant actually paid pursuant to Section 4.3 of this Lease for
the Lease Year is less than Tenant’
s Proportionate Share of the
actual Direct Expenses or Taxes, then Tenant shall pay to Landlord as
additional rent in one lump sum within thirty (30) days of receipt of
Landlord’s bill therefor the difference between such total additional rent
actually paid by Tenant pursuant to said Section 4.3 of this Lease for the
Lease Year and the Tenant’s Proportionate Share of said Direct Expenses or Taxes; or

 

4.4.2.                     If
the total additional rent Tenant actually paid pursuant to Section 4.3 of
this Lease for the Lease Year is more than Tenant’s Proportionate Share of the
actual Direct Expenses or Taxes as so determine, then Landlord shall credit the
difference against the then next due payments to be made by Tenant under this
Article 4.

 

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

 

4.6.                              Even
though the Term has expired and Tenant has vacated the Premises, when the final
determination is made of Tenant’s Proportionate Share of Direct Expenses or
Taxes for the Lease Year in which the Lease terminated, Tenant shall pay any
increase due over the estimated Direct Expenses or Taxes paid; and conversely
any overpayment, less any amounts due Landlord under this Lease, shall be
rebated to Tenant.

 

4.7.                              In
addition Landlord shall be entitled to amortize and include as an additional
rental adjustment:  (i) an allocable
portion of the cost of capital improvement items which are reasonable
calculated to reduce operating expenses; (ii) fire sprinklers and suppression
systems and other life safety systems; and (iii) other capital expenses which
are required under any governmental laws, regulations or ordinances which were
not applicable to the Building at the time it was constructed.  All such costs shall be amortized over the
reasonable life of such improvements in accordance with such reasonable life
and amortization schedules as shall be determined by Landlord in accordance
with generally accepted accounting principles, with interest on the unamortized
amount at one percent (1%) in excess of the prime lending rate announced as
such by The Northern Trust Company as of February 1st of each
year.

 

5.                                       SECURITY DEPOSIT. 
Tenant shall deposit the Security Deposit with Landlord upon or before
the execution of this Lease.  Said sum
shall be held by Landlord as security for the faithful performance by Tenant of
all the terms, covenants and conditions of this Lease to be kept and performed
by Tenant and not as an advance rental deposit or as a measure of Landlord’s
damage in case of Tenant’s default.  If
Tenant defaults with respect to any provision of this

 

5

 

Lease, Landlord may use any part of the Security Deposit for the
payment of any rent or any other sum in default, or for the payment of any
amount which Landlord may spend or become obligated to spend by reason of
Tenant’s default, or to compensate Landlord for any other loss or damage which
Landlord may suffer by reason of Tenant’s default.  If any portion is so used, Tenant shall within five (5) days
after written demand therefor, deposit with Landlord an amount sufficient to
restore the Security Deposit to its original amount and Tenant’s failure to do
so shall be a material breach of this Lease. 
Except to such extent, if any, as shall be required by law, Landlord
shall not be required to keep the Security Deposit separate from its general
funds, and Tenant shall no be entitled to interest on such deposit.  If Tenant shall fully and faithfully perform
every provision of this Lease to be performed by it, the Security Deposit or
any balance thereof shall be returned to Tenant at such time after termination
of this Lease when Landlord shall have determined that all of Tenant’s
obligations under this Lease have been fulfilled.

 

6.                                       ALTERATIONS.

 

6.1.                              Except
for those, if any, specifically provided for in Exhibit B to this
Lease, Tenant shall not make or suffer to be made any alterations, additions,
or improvements, including, but not limited to, the attachment of any fixtures or equipment in, on, or to the Premises or any part thereof or the making of any improvements as required by Article 7 of this Lease, without
the prior written consent of
Landlord. When applying for such consent, Tenant shall, if requested by
Landlord, furnish complete plans and specifications
for such alterations, additions and improvements.

 

6.2.                              In
the event Landlord consents to the making of any such alteration, addition or improvement by Tenant, the same shall be made using Landlord’s
contractor (unless Landlord agrees otherwise) at Tenant’s sole cost and expense.  If Tenant
shall employ any Contractor other than Landlord’s Contractor and such other contractor or any Subcontractor of such
other Contractor shall employ any non-union labor or supplier, Tenant shall be
responsible for and hold Landlord harmless from any and all delays, damages and
extra costs suffered by Landlord as a result of any dispute with any labor
unions concerning the wage, hours, terms or conditions of the employment of any
such labor.  In any event Landlord may
charge Tenant a reasonable charge to cover its overhead as it relates to such proposed work.

 

6.3.                              All
alterations, additions or improvements proposed by Tenant shall be constructed
in accordance with all government laws, ordinances, rules and regulations and
Tenant shall, prior to construction,
provide the additional insurance required under Article 12 of this Lease
in such case, and also all such assurances to Landlord, including but not limited to, waivers of lien,
surety company performance bonds and personal guaranties of individuals of
substance as Landlord shall reasonably require to assure payment of the costs
thereof and to protect Landlord and the Building and appurtenant land against
any loss from any mechanic’s, materialmen’s or other liens.

 

6.4.                              All alterations, additions, and improvements
in, on, or to the Premises made or installed by Tenant, including carpeting,
shall be and remain the property of Tenant during the Term but which shall
become a part of the realty and belong to Landlord without compensation to
Tenant upon the expiration or sooner termination of the Term, at which time
title shall pass to

 

6

 

Landlord under this Lease as by a bill of sale, unless Landlord elects
otherwise.  Tenant’s furniture,
furnishings, movable partitions of less than full height from floor to ceiling
and other trade fixtures shall remain the property of Tenant and shall be
removed by Tenant upon the expiration or sooner termination of the Term.  Upon such election by Landlord, Tenant shall
upon demand by Landlord, at Tenant’s sole cost and expense, forthwith and with
all due diligence remove any such alterations, additions or improvements which
are designated by Landlord to be removed, and Tenant shall forthwith and with
all due diligence, at its sole cost and expense, repair and restore the
Premises to their original condition, reasonable wear and tear and damage by
fire or other casualty excepted.

 

6.5.                              Tenant
shall pay in addition to any sums due pursuant to
Article 4 of this Lease, any increase in real estate taxes attributable to
any such alteration, addition or improvement for so long, during the Term, as
such increase is ascertainable; at Landlord’s election said sums shall be paid
in the same way as sums due under said
Article 4.

 

7.                                       REPAIR.

 

7.1.                              Landlord shall have no obligation to alter,
remodel, improve, repair, decorate or paint the Premises, except as specified
in Exhibit B if attached to this Lease and except that Landlord shall repair
and maintain the structural portions of the Building, including the basic plumbing,
air conditioning, heating and electrical systems installed or furnished by
Landlord and including any leaks from the Building Mechanical Area or the 21st
floor.  By taking possession of the
Premises, Tenant accepts them as being in good order, condition and repair and
in the condition in which Landlord is obligated to deliver them.  It is hereby understood and agreed that no
representations respecting the condition of the Premises or the Building have
been made by Landlord to Tenant, except as specifically set forth in this
Lease.

 

7.2.                              Tenant shall, at all times during the Term,
keep the Premises in good condition and repair excepting damage by fire, or
other casualty, and in compliance with all applicable governmental laws,
ordinances and regulations, promptly complying with all governmental orders and
directives for the correction, prevention and abatement of any violations or
nuisances in or upon, or connected with, the Premises, all at Tenant’s sole
expense.

 

7.3.                              Landlord shall not be liable for any failure
to make any repairs or to perform any maintenance unless such failure shall
persist for an unreasonable time after written notice of the need for such
repairs or maintenance is given to Landlord by Tenant.

 

7.4.                              Except as provided in Article 23 of this
Lease, there shall be no abatement of rent and no liability of Landlord by
reason of any injury to or interference with Tenant’s business arising from the
making of any repairs, alterations or improvements in or to any portion of the
Building or the Premises or to fixtures, appurtenances and equipment in the
Building.  Except to the extent, if any,
prohibited by law, Tenant waives the right to make repairs at Landlord’s
expense under any law, statute or ordinance now or hereafter in effect.  In any case, Tenant shall give Landlord at
least thirty (30) days notice describing in reasonable detail any repair which
Tenant proposes to make at Landlord’s expense and Tenant shall not make any
such repair

 

7

 

unless Landlord fails to commence such repair within said time or fails
to continue with such repair with reasonable diligence.

 

8.                                       LIENS.  Tenant shall keep the Premises, the Building
and appurtenant land and Tenant’s leasehold interest in the Premises free from
any liens arising out of any services, work or materials performed, furnished,
or contracted for by Tenant, or obligations incurred by Tenant, including
(without limitation) liens arising under the Illinois Mechanics’ Lien Act or
Commercial Real Estate Broker Lien Act. 
In the event that Tenant shall not, within ten (10) days following the
imposition of any such lien, either cause the same to be released of record or
provide Landlord with insurance against the same issued by a major title
insurance company or such other protection against the same as Landlord shall
accept, Landlord shall have the right to cause the same to be released by such
means as it shall deem proper, including payment of the claim giving rise to
such lien.  All such sums paid by
Landlord and all expenses incurred by it in connection therewith shall be
considered additional rent and shall be payable to it by Tenant on demand with
interest at the rate of eighteen percent (18%) per annum or the highest rate
permitted by law, whichever is lower.

 

9.                                       ENVIRONMENTAL MATTERS.  Tenant shall not, and shall not direct,
suffer or permit any of its agents, contractors, employees, licensees or
invitees to at any time handle, use, manufacture, store or dispose of in or
about the Premises or the Building any (collectively “Hazardous Materials”)
flammables, explosives, radioactive materials, hazardous wastes or materials,
toxic wastes or materials, or other similar substances, petroleum products or
derivatives or any substance subject to regulation by or under any federal,
state and local laws and ordinances relating to the protection of the
environment or the keeping, use or disposition of environmentally hazardous
materials, substances, or wastes, presently in effect or hereafter adopted, all
amendments to any of them, and all rules and regulations issued pursuant to any
of such laws or ordinances (collectively “Environmental Laws”), nor shall
Tenant suffer or permit any Hazardous Materials to be used in any manner not
fully in compliance with all Environmental Laws, in the Premises or the
Building and appurtenant land or the environment to become contaminated with
any Hazardous Materials. 
Notwithstanding the foregoing, and subject to Landlord’s prior consent,
Tenant may handle, store, use or dispose of products containing small
quantities of Hazardous Materials (such as aerosol cans containing
insecticides, toner for copiers, paints, paint remover and the like) to the
extent customary and necessary for the use of the Premises for general office purposes;
provided that Tenant shall always handle, store, use, and dispose of any such
Hazardous Materials in a safe and lawful manner and never allow such Hazardous
Materials to contaminate the Premises, Building and appurtenant land or the
environment.  Tenant shall hold each and
all of the “Landlord Entities” harmless from and defend them against any and
all loss, claims, liability or costs (including court costs and attorney’s
fees) incurred by reason of any actual or asserted failure of Tenant to fully
comply with all applicable Environmental Laws, or the presence, handling, use
or disposition in or from the Premises of any Hazardous Materials (even though
permissible under all applicable Environmental Laws or the provisions of this
Lease), or by reason of any actual or asserted failure of Tenant to keep,
observe, or perform any provision of this Article 9.

 

8

 

10.                                 ASSIGNMENT AND SUBLETTING.

 

10.1.                        Tenant
shall not have the right to assign or pledge this Lease or to sublet the whole
or any part of the Premises whether voluntarily or by operation of law, or
permit the use or occupancy of the Premises by anyone other than Tenant, and
shall not make, suffer or permit such assignment, subleasing or occupancy without
the prior written consent of Landlord, which shall not be unreasonably
withheld, and said restrictions shall be binding upon any and all assignees of
the Lease and subtenants of the Premises. 
In the event Tenant desires to sublet, or permit such occupancy of, the
Premises, or any portion thereof, or assign this Lease, Tenant shall give
written notice thereof to Landlord at least ninety (90) days but no more than
one hundred eighty (180) days prior to the proposed commencement date of such
subletting or assignment, which notice shall set forth the name of the proposed
subtenant or assignee, the relevant terms of any sublease and copies of
financial reports and other relevant financial reports and other relevant
financial information of the proposed subtenant or assignee.

 

10.2.                        Notwithstanding
any assignment or subletting, permitted or otherwise, Tenant shall at all times
remain directly, primarily and fully responsible and liable for the payment of
the rent specified in this Lease and for compliance with all of its other
obligations under the terms, provisions and covenants of this Lease.  Upon the occurrence of an “Event of Default”
(as defined in this Lease), if the Premises or any part of them are then assigned
or sublet, Landlord, in addition to any other remedies provided in this Lease
or provided by law, may, at its
option, collect directly from such assignee or subtenant all rents due and
becoming due to Tenant under such assignment
or sublease and apply such rent against any sums due the to Landlord from Tenant under this
Lease, and no such collection shall be construed to constitute a novation or
release of Tenant from the further performance of Tenant’s obligations under
this Lease.

 

10.3.                        In
addition to Landlord’s right to approve of any subtenant or
assignee, Landlord shall have the option, in its sole discretion, in the event of any proposed subletting or
assignment, to terminate this
Lease, or in the case of a
proposed subletting of less than
the entire Premises, to recapture the portion of the Premises to he sublet, as of the date the subletting or assignment is to be effective. The option shall be exercised, if at all,
by Landlord giving Tenant written notice given by Landlord to Tenant within sixty (60) days
following Landlord’s receipt of Tenant’s
written notice as required above. If this
Lease shall be terminated with
respect to the entire Premises
pursuant to this Section, the Term of this Lease shall end on the
date stated in Tenant’s notice as the effective date of the sublease or assignment as if that date had been originally fixed in this Lease for the expiration of the Term.  If Landlord recaptures under this
Section only a portion of the Premises, the rent to be paid from time to time during the
unexpired Term shall abate proportionately based on the proportion by which the
approximate square footage of the
remaining portion of the
Premises shall be less than that
of the Premises as of the date immediately prior to such recapture.  Tenant shall, at Tenant’s own cost and
expense, discharge in full any outstanding commission obligation on the part of Landlord with respect to this
Lease, and any commissions which may be due and owing as a result of any proposed assignment or subletting, whether or not the Premises are recaptured
pursuant to this Section 10.3 and rented by Landlord to the proposed Tenant or any other Tenant.

 

10.4.                        All lease
renewal option rights or space
option rights, special privileges and extra services granted to Tenant by this
Lease, or addendum or amendment to this
Lease or letter of agreement shall he personal to the original Tenant
named in this Lease shall endure only so long

 

9

 

as said Tenant continues to be the Tenant under this Lease and
remains in possession of the Premises.  Consent by Landlord to any assignment or
subletting shall not include
consent to the assignment or transferring of any of said options, right, privileges or services and all of them shall terminate entirely upon such assignment or as to the space subleased in the case of a sublease.  Unless
expressly agreed in writing
by Landlord to the contrary, every sublease
of any of the Premises and the rights of the sublessee under the sublease shall be subordinate to this
Lease and the rights of Landlord under this Lease
and shall not survive termination of this
Lease or if Tenant’s rights to possession
under this Lease, and each sublease shall so provide.

 

10.5.                        In the event that Tenant sells,
sublets, assigns or transfers
this Lease, Tenant shall pay to Landlord as additional rent an amount
equal to fifty percent (50%) of any Increased Rent (as defined below)
when and as such Increased Rent is received
by Tenant.  As used in this Section,
“Increased Rent” shall mean the excess
of (i) all rent and other
consideration which Tenant is entitled
to receive by reason of any sale, sublease, assignment or other
transfer of this Lease, over (ii) the rent otherwise payable by Tenant under
this Lease at such time.  For purposes
of the foregoing, any consideration received by Tenant in form other than cash
shall be valued at its fair market value as determined by Landlord in good
faith.

 

10.6.                        Notwithstanding
any other provision hereof, Tenant shall have no right to make (and Landlord
shall have the absolute right to refuse consent to) any assignment of this
Lease or sublease of any portion of the Premises if at the time of either Tenant’s s notice of the proposed assignment
or sublease or the proposed commencement
date thereof, there shall exist any uncured default of Tenant or matter
which will became a default of
Tenant with passage of time unless cured; or if the proposed assignee or
sublessee:  (a) is an entity with
which Landlord is already in negotiation
as evidenced by the issuance of a written proposal; (b) is already an
occupant of the Building unless Landlord is unable to provide the amount of
space required by such occupant; (c) is a governmental agency; (d) is
incompatible with the character
of occupancy of the Building; or (e) would subject the Premises to a use which
would:  (i) involve increased personnel
or wear upon the Building; (ii) violate any exclusive right granted to another
Tenant of the Building; or, (iii) require any addition to or modification of the Premises or the Building in order to comply with Building code or other
governmental requirements.  Tenant
expressly agrees that Landlord shall have the absolute right to refuse consent to any such assignment or
sublease and that for the purposes of any
statutory or other requirement of reasonableness
on the part of Landlord such refusal shall be reasonable.

 

10.7.                        Tenant
will pay to Landlord an demand a sum
equal to all of Landlord’s reasonable
costs, including
attorney’s fees, incurred in investigating and considering any proposed or purported assignment or pledge of this Lease or sublease of any of the Premises, regardless of
whether Landlord shall consent to, refuse
consent, or determine that
Landlord’s consent is not required for, such assignment, pledge or
sublease.  Any purported sale, assignment,
mortgage, transfer of this Lease or
subletting which does not comply with the provisions of this Article 10 shall be void.

 

10.8.                        If Tenant is a corporation,
partnership or trust, any transfer or transfers of or change or changes within
any twelve month period in the number of the outstanding voting shares of the
corporation, the general partnership interests
in the partnership or the identity
of the

 

10

 

persons or entities controlling the activities of such partnership or
trust resulting in the persons or
entities owning or controlling
a majority of such shares,
partnership interests or activities
of such partnership or trust at the beginning of such
period no longer having such ownership or
control shall be regarded as equivalent to an assignment of this Lease
to the persons or entities acquiring such ownership
or control and shall be subject to all
the provisions of this
Article 10 to the same
extent and for all intents and
purposes as though such an assignment.

 

11.                                 INDEMNIFICATION.  None of the Landlord Entities shall be
liable and Tenant hereby waives all claims against them for any damage to any property or any injury to any person in or about the Premises or the Building by or from
any cause whatsoever (including
without limiting the foregoing, rain or
water leakage of any character
from the roof, windows, walls, basement, pipes, plumbing works or
appliances, the Building not being in good condition or repair, gas, fire, oil, electricity or theft), except to the extent caused by or arising from any actual or asserted
negligent or willful act of Landlord or
its agents, employees or contractors. 
Tenant shall protect, indemnify and hold the Landlord Entities
harmless from and against any
and all loss, claims, liability or costs (including court costs and attorney’s
fees) incurred by reason of (a) any damage to any property (including but not
limited to property of any Landlord Entity) or any injury (including but not
limited to death) to any person occurring in, on or about the Premises or the
Building to the extent that such injury or damage shall be caused by or arise
from any actual or alleged act, neglect, fault, or omission by or of Tenant,
its agents, servants, employees, invitees, or authorized visitors to meet any
standards imposed by any duty with respect to the injury or damage; (b) the
conduct or management of any work or thing whatsoever done by the Tenant in or
about the Premises or from transactions of the Tenant concerning the Premises;
(c) Tenant’s failure to comply with any and all governmental laws, ordinances
and regulations applicable to the condition or use of the Premises or its
occupancy; or (d) any breach or default on the part of Tenant in the
performance of any covenant or agreement on the part of the Tenant to be
performed pursuant to this Lease.  The
provisions of this Article shall survive the termination of this Lease
with respect to any claims or liability occurring prior to such termination.

 

12.                                 INSURANCE.

 

12.1.                        Tenant
shall keep in force throughout the Term a commercial general liability
insurance policy or policies to protect the Landlord Entities against any
liability to the public or to any invitee of Tenant or a Landlord Entity incidental to the use of or
resulting from any accident occurring in or upon the Premises with a
comprehensive single limit of not less than
$1,000,000.00 per occurrence and not less than $2,000,000.00 in the aggregate or such larger amount as Landlord may prudently require
from time to time, and insurance protecting against liability under Worker’s Compensation Laws with limits at least as required by statute. Tenant shall
also keep in force throughout the Term All Risk or Special Form
coverage protecting Tenant against loss of or damage to Tenant’ s alterations, additions, improvements, carpeting,
floor coverings, panelings,
decorations, fixtures and other business personal property situated in or about the Premises to the full replacement value of
the property so insured.

 

12.2.                        Each of the aforesaid policies shall (a) be provided at Tenant’ s expense; (b) name the Landlord Entities as additional insureds; (c) be issued by an insurance company
with a minimum Best’s rating of  “A:VII” during the Term; and (d)
provide that said insurance shall not

 

11

 

be canceled unless thirty (30)
days prior written notice shall have been given to Landlord; and said policy or policies or
certificates thereof shall be delivered to
Landlord by Tenant upon the Commencement Date and at least thirty (30) days
prior to each renewal of said
insurance.

 

12.3.                        Whenever
Tenant shall undertake any alterations,
additions or improvements in, to or about the Premises (“Work”) the
aforesaid insurance protection must extend
to and include injuries to persons
and damage to property arising in connection
with such Work, including without limitation
statutory limits required by
applicable Worker’s Compensation Laws and $500, 000 per occurrence for
Employer’ s Liability, and such other insurance as Landlord shall
require; and the policies of or certificates
evidencing such insurance must be delivered to Landlord prior to the commencement
of any such Work.

 

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

 

14.                                 SERVICES AND UTILITIES.

 

14.1.                        provided
Tenant shall not be in default under this Lease, and subject to the other
provisions of this Lease, Landlord agrees to furnish to the Premises between
the hours of 8:00 a.m. and 6:00 PM on generally recognized business days and
between 8:00 AM and 1:00 PM on Saturdays (but exclusive in any event of Sundays
and legal holidays), the following services and utilities subject to the rules
and regulations of the Building prescribed from time to time:  (a) water suitable for normal office
use of the Premises; (b) heat and air-conditioning required in Landlord’s
judgment for the use and occupation of the Premises; (c) janitorial service;
(d) elevator service by non attended automatic elevators; (e) such window
washing as may from time to time in Landlord’s judgment be reasonably required;
and (f) equipment to bring to Tenant’s meter, electricity for lighting,
convenience outlets and other normal office use.  To the extent that Tenant is not billed directly by a public
utility, Tenant shall pay, upon demand, as additional rent, for all electricity
used by Tenant in the Premises.  The
charge shall be at the rates charged for such services by the local public
utility.  Tenant shall pay for all
electric light bulbs, tubes and ballasts. 
Tenant agrees that all times to cooperate fully with Landlord and to
abide by all the regulations and requirements which Landlord may prescribe for
the proper functioning and protection of said systems.  Landlord shall not be liable for, and Tenant
shall not be entitled to, any abatement or reduction of rental by reason of
Landlord’s failure to furnish any of the foregoing, unless such failure shall
persist for an unreasonable time after written notice of such failure is given
to Landlord by Tenant and provided further that Landlord shall not be liable
when such failure is caused by accident, breakage, repairs, labor disputes of
any character, energy usage restrictions or by any other cause, similar or
dissimilar, beyond the reasonable control of Landlord.  Landlord shall use reasonable efforts to
remedy any interruption in the furnishing of services and utilities.  Notwithstanding the above, Landlord shall be
entitled, without compensation to Tenant or any abatement of rent, to cooperate
voluntarily in a

 

12

 

reasonable manner with the efforts of national, state or local
governmental bodies or suppliers of utilities in reducing consumption of energy
or other resources.

 

14.2.                        Should
Tenant require any additional work or service, as described above, including
services furnished outside ordinary business hours specified above, Landlord
may, on terms to be agreed, upon reasonable advance notice by Tenant, furnish
such additional service and Tenant agrees to pay Landlord such charges as may
be agreed upon, including any tax imposed thereon, but in no event at a charge
less than Landlord’s actual cost plus overhead for such additional service and,
where appropriate, a reasonable allowance for depreciation of any systems being
used to provide such Service.

 

14.3.                        Wherever
heat-generating machines or equipment are used by Tenant in the Premises which
affect the temperature otherwise maintained by the air-conditioning system,
Landlord reserves the right to install supplementary air-conditioning units in
or for the benefit of the Premises and the cost thereof, including the
reasonable cost of installation and the cost of operations and maintenance,
shall be paid by Tenant to Landlord upon demand as such additional rent.

 

14.4.                        Tenant
will not, without the written consent of Landlord, use any apparatus or device
in the Premises, including but not limited to, electronic data processing
machines and machines using current in excess of 200 watts or 110 volts, which
will in any way increase the amount of electricity or water usually furnished
or supplied for use of the Premises for normal office use, nor connect with
electric current, except through existing electrical outlets in the Premises,
or water pipes, any apparatus or device for the purposes of using electrical
current or water.  If Tenant shall
require water or electric current in excess of that usually furnished or
supplied for use of the Premises as normal office use, Tenant shall procure the
prior written consent of Landlord for the use thereof, which Landlord may
refuse, and if Landlord does consent, Landlord may cause a water meter or
electric current meter to be installed so as to measure the amount of such
excess water and electric current.  The
cost of any such meters shall be paid for by Tenant.  Tenant agrees to pay as additional rent to Landlord promptly upon
demand therefor, the cost of all such excess water and electric current
consumed (as shown by said meters, if any, or, if none, as reasonably estimated
by Landlord) at the rates charged for such services by the local public utility
or agency, as the case may be, furnishing the same, plus any additional expense
incurred in keeping account of the water and electric current so consumed.

 

14.5.                        Subject
as provided in this Lease, Tenant shall be entitled to the use of wiring
(“Communications Wiring”) from the vault of Ameritech Company or its successor
(“Ameritech”) at or near the entrance to the Building to Tenant’s telephone
panel at or near the entrance to the Premises, sufficient for normal general
office use of the Premises.  Tenant
shall not install any additional Communications Wiring without the prior
written consent of Landlord, which Landlord may refuse; nor shall Tenant remove
any Communications Wiring without such consent.  Tenant shall be responsible for, and indemnify and hold Landlord
harmless from and against, all injuries and damages to persons or property and
all expenses, claims and liabilities resulting from the installation, use,
maintenance, repair or replacement of Communications Wiring (“Wiring Work”) by
Tenant or anyone employed by Tenant.  If
and so long as an arrangement (“Provider Arrangement”) shall be in effect
between Landlord and Ameritech or

 

13

 

other qualified concern to provide any Wiring Work on an exclusive
basis Tenant shall obtain such Wiring Work as Tenant shall require from such
provider through or as directed by Landlord and shall pay all the costs thereof
billed directly to Tenant by such provider. 
If and so long as no Provider Arrangement shall be in effect, Tenant
shall arrange for, through Landlord if required by Landlord, and pay directly
for, all such Wiring Work as Tenant shall require from such provider as Tenant
shall select subject to the prior authorization of Landlord, which Landlord may
refuse for any reason, including (without limitation) that Landlord is not
satisfied as to the expertise or reliability of the provider or the liability
insurance protection to be given.

 

15.                                 HOLDING OVER. 
Tenant shall pay Landlord for each day Tenant retains possession of the
Premises or part of them after termination of this Lease by lapse of time or
otherwise at the rate (“Holdover Rate”) which shall be 200% of the greater
of:  (a) the amount of the Annual
Rent for the last period prior to the date of such termination plus all Rent
Adjustments under Article 4; and, (b) the then market rental value of
the Premises as determined by Landlord assuming a new lease of the Premises of
the then usual duration and other terms, in either case prorated on a daily
basis, and also pay all damages sustained by Landlord by reason of such
retention, and shall indemnify and hold Landlord harmless from any loss or
liability resulting from such holding over and/or failure to surrender the
Premises when and in the condition required by Sections 6.4 and 27.2 of
this Lease.  If Landlord gives notice to
Tenant of Landlord’s election to that effect, such holding over shall
constitute renewal of this Lease for a period from month to month or one year,
whichever shall be specified in such notice, in either case at the Holdover
Rate, but if the Landlord does not so elect, no such renewal shall result
notwithstanding acceptance by Landlord of rent after such termination; and
instead, a tenancy at sufferance at the Holdover Rate shall be deemed to have
been created.  In any event, no
provision of this Article 15 shall be deemed to waive Landlords right of
reentry or any other right under this Lease or at law.

 

16.                                 SUBORDINATION.  Without the necessity of any additional document being executed
by Tenant for the purpose of effecting a subordination, this Lease shall be
subject and subordinate at all times to ground or underlying leases and to the
lien of any mortgages or deeds of trust now or hereafter placed on, against or
affecting the Building, Landlord’s interest or estate in the Building, or any
ground or underlying Lease; provided, however, that if the lessor, mortgagee,
trustee, or holder of any such mortgage or deed of trust elects to have
Tenant’s interest in this Lease be superior to any such instrument, then, by
notice to Tenant, this Lease shall be deemed superior, whether this Lease was
executed before or after said instrument. 
Notwithstanding the foregoing, Tenant covenants and agrees to execute
and deliver upon demand such further instruments evidencing such subordination
or superiority of this Lease as may be required by Landlord and, in connection
with any instrument evidencing subordination, Landlord agrees to use
commercially reasonable efforts to obtain from such mortgagee or trustee a
non-disturbance agreement containing terms reasonably acceptable to Tenant.

 

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

 

14

 

18.                                 REENTRY BY LANDLORD; PERFORMANCE
OF TENANT’S OBLIGATIONS.

 

18.1.                        Landlord
preserves and shall at all times have the right to re-enter the Premises to
inspect the same, to supply janitor service and any other service to be
provided by Landlord to Tenant under this Lease, to show said Premises to
prospective purchasers, mortgagees or tenants, and to alter, improve or repair
the Premises and any portion of the Building including, without limitation, the
improvements and other items described in Section 4.7 and Article 7
of this Lease, without abatement of rent, and may for that purpose erect, use
and maintain scaffolding, pipes, conduits and other necessary structures and
open any wall, ceiling or floor in and through the Building and Premises where
reasonably required by the character of the work to be performed, provided
entrance to the Premises shall not be blocked thereby, and further provided
that the business of Tenant shall not be interfered with unreasonably.

 

18.2.                        Landlord
may, at Landlord’s option, enter into and upon the Premises with, or if Tenant
shall have vacated the Premises without, five (5) days notice, if Landlord
determines in its sole discretion that Tenant is not acting within a commercially
reasonable time to maintain, repair or replace anything for which Tenant is
responsible under this Lease and correct the same, without being deemed in any
manner guilty of trespass, eviction or forcible entry and detainer and without
incurring any liability for any damage or interruption of Tenant’s business
resulting therefrom.  If Tenant shall
have vacated the Premises, Landlord may at Landlord’s option re-enter the
Premises at any time during the last six months of the then current Term of this
Lease and make any and all such changes, alterations, revisions, additions and
tenant and other improvements in or about the Premises as Landlord shall elect,
all without any abatement of any of the rent otherwise to be paid by Tenant
under this Lease.

 

18.3.                        Landlord
shall have the right at any time to change the arrangement and/or locations of
entrances, or passageways, doors and doorways, and corridors, elevators,
stairs, toilets or other public parts of the Building and to change the name,
number or designation by which the Building is commonly known.  In the event that Landlord damages any
portion of any wall or wall covering, ceiling, or floor or floor covering
within the Premises, Landlord shall repair or replace the damaged portion to
match the original as nearly as commercially reasonable but shall not be
required to repair or replace more than the portion actually damaged.

 

18.4.                        Tenant
hereby waives any claim for damages for any injury or inconvenience to or
interference with Tenant’s business, any loss of occupancy or quiet enjoyment
of the Premises, and any other loss occasioned by any action of Landlord
authorized by this Article 18. 
Tenant agrees to reimburse Landlord, on demand, as additional rent, for
any expenses which Landlord may incur in thus effecting compliance with
Tenant’s obligations under this Lease.

 

18.5.                        For
each of the aforesaid purposes, Landlord shall at all times have and retain a
key with which to unlock all of the doors in the Premises, excluding Tenant’s
vaults and safes or special security areas (designated in advance), and
Landlord shall have the right to use any and all means which Landlord may deem
proper to open said doors in an emergency to obtain entry to any portion of the
Premises.  As to any portion to which
access cannot be had by means of a key or keys in Landlord’s possession,
Landlord is authorized to gain access by such means as

 

15

 

Landlord shall elect and the cost of repairing any damage occurring in
doing so shall be borne by Tenant and paid to Landlord as additional rent upon
demand.

 

19.                                 DEFAULT.

 

19.1.                        Except
as otherwise provided in Article 21 of this Lease, the following events
shall be deemed to be Events of Default under this Lease:

 

19.1.1.               Tenant
shall fail to pay when due any sum of money becoming due to be paid to Landlord
under this Lease, whether such sum be any installment of the rent reserved by
this Lease, any other amount treated as additional rent under this Lease, or
any other payment or reimbursement to Landlord required by this Lease, whether
or not treated as additional rent under this Lease, and such failure shall
continue for a period of five (5) days after written notice that such payment
was not made when due, but if any such notice shall be given, for the
twelve-month period commencing with the date of such notice, the failure to pay
within five (5) days after due any additional sum of money becoming due to
be paid to Landlord under this Lease during such period shall be an Event of Default,
without notice.

 

19.1.2.               Tenant
shall fail to comply with any term, provision or covenant of this Lease which
is not provided for in another Section of this Article and shall not
cure or diligently pursue cure for such failure within twenty (20) days
(forthwith, if the failure involves a hazardous condition) after written notice
of such failure to Tenant.

 

19.1.3.               Tenant
shall abandon or vacate any substantial portion of the Premises.

 

19.1.4.               Tenant
shall fail to vacate the Premises immediately upon termination of this Lease,
by lapse of time or otherwise, or upon termination of Tenant’s right to
possession only.

 

19.1.5.               The
leasehold interest of Tenant shall be levied upon under execution or be
attached by process of law or Tenant shall fail to contest diligently the
validity of any lien or claimed lien and give sufficient security to Landlord
to insure payment thereof or shall fail to satisfy any judgment rendered on
such claim or lien and have the same released, and such default shall continue for
ten (10) days after written notice thereof to Tenant.

 

19.1.6.               Tenant
shall become insolvent, admit in writing its inability to pay its debts
generally as they become due, file a petition in bankruptcy or a petition to
take advantage of any insolvency statute, make an assignment for the benefit of
creditors, make a transfer in fraud of creditors, apply for or consent to the
appointment of a receiver of itself or of the whole or any substantial part of
its property, or file a petition or answer seeking reorganization or
arrangement under the federal bankruptcy laws, as now in effect or hereinafter
amended, or any other applicable law or statute of the United States or any
state thereof.

 

19.1.7.               A
court of competent jurisdiction shall enter an order, judgment or decree
adjudicating Tenant bankrupt, or appointing a receiver of Tenant, or of the
whole or any substantial part of its property, without the consent of Tenant,
or approving a petition filed against Tenant seeking reorganization or
arrangement of Tenant under the bankruptcy laws of

 

16

 

the United States, as now in effect or hereafter amended, or any state
thereof, and such order, judgment or decree shall not be vacated or set aside
or stayed within thirty (30) days from the date of entry thereof.

 

20.                                 REMEDIES.

 

20.1.                        Except
as otherwise provided in Article 21 of this Lease, upon the occurrence of
any of the Events of Default described or referred to in Article 19 of
this Lease, Landlord shall have the option to pursue any one or more of the
following remedies without any notice or demand whatsoever, concurrently or
consecutively and not alternatively:

 

20.1.1.               Landlord
may, at its election, terminate this Lease or terminate Tenant’s right to
possession only, without terminating the Lease.

 

20.1.2.               Upon
any termination of this Lease, whether by lapse of time or otherwise, or upon
any termination of Tenant’s right to possession without termination of the
Lease, Tenant shall surrender possession and vacate the Premises immediately,
and deliver possession thereof to Landlord, and Tenant hereby grants to
Landlord full and free license to enter into and upon the Premises in such
event with or without process of law and to repossess Landlord of the Premises
as of Landlord’s former estate and to expel or remove Tenant and any others who
may be occupying or be within the Premises and to remove Tenant’s signs and
other evidence of tenancy and all other property of Tenant therefrom without
being deemed in any manner guilty of trespass, eviction or forcible entry or
detainer, and without incurring any liability for any damage resulting
therefrom, Tenant waiving any right to claim damages for such reentry and
expulsion, and without relinquishing Landlord’s right to rent or any other
right given to Landlord under this Lease or by operation of law.

 

20.1.3.               Upon
any termination of this Lease, whether by lapse of time or otherwise, Landlord
shall be entitled to recover as damages, all rent, including any amounts
treated as additional rent under this Lease, and other sums due and payable by
Tenant on the date of termination, plus as liquidated damages and not as a
penalty, an amount equal to either, as Landlord shall elect:  (i) the total amount of Annual Rent and
additional rent which was due to be paid under this Lease for the then most
recent Lease Year or such shorter time as equals the then otherwise unexpired
term of this Lease; or (ii) the sum: 
(a) an amount equal to the then present value of the rent reserved in
this Lease for the residue of the stated Term of this Lease including any
amounts treated as additional rent under this Lease and all other sums provided
in this Lease to be paid by Tenant, minus the fair rental value of the Premises
for such residue (which the parties agree shall not exceed eighty percent (80%)
of the then present value of the rent reserved for such residue); (b) the value
of the time and expense necessary to obtain a replacement tenant or tenants,
and the estimated expenses described in Section 20.1.4 of this Lease
relating to recovery of the Premises, preparation for reletting and for
reletting itself; and (c) the cost of performing any other covenants which
would have otherwise been performed by Tenant.

 

20.1.4.               Upon
any termination of Tenant’s right to possession only without termination of the
Lease:

 

17

 

20.1.4.1.                              Neither such termination
of Tenant’s right to possession nor Landlord’s taking and holding possession
thereof as provided in Section 20.1.2 of this Lease shall terminate the
Lease or release Tenant, in whole or in part, from any obligation, including
Tenant’s obligation to pay the rent, including any amounts treated as
additional rent, under this Lease for the full Term.

 

20.1.4.2.                              Landlord may, but need
not, relet the Premises or any part thereof for such rent and upon such terms
as Landlord, in its sole discretion, shall determine (including the right to
relet the Premises for a greater or lesser term than that remaining under this Lease,
the right to relet the Premises as a part of a larger area, and the right to
change the character or use made of the Premises).  In connection with or in preparation for any reletting, Landlord
may, but shall not be required to, make repairs, alterations and additions in
or to the Premises and redecorate the same to the extent Landlord deems
necessary or desirable, and Tenant shall, upon demand, pay the cost thereof,
together with Landlord’s expenses of reletting, including, without limitation,
any broker’s commission incurred by Landlord. 
If Landlord decides to relet the Premises or a duty to relet is imposed
upon Landlord by law, Landlord and Tenant agrees that nevertheless Landlord
shall at most be required to use only the same efforts Landlord then uses to
lease premises in the Building generally and that in any case that Landlord
shall not be required to give any preference or priority to the showing or
leasing of the Premises over any other space that Landlord may be leasing or
have available and may place a suitable prospective tenant in any such other
space regardless of when such other space becomes available.  Landlord shall not be required to observe
any instruction given by Tenant about any reletting or accept any tenant
offered by Tenant unless such offered tenant has a credit-worthiness acceptable
to Landlord and Leases the entire Premises upon terms and conditions including
a rate of rent (after giving effect to all expenditures by Landlord for Tenant
improvements, brokers commissions and other leasing costs) all no less
favorable to Landlord than as called for in this Lease, nor shall Landlord be
required to make or permit any assignment or sublease for more than the current
term or which Landlord would not be required to permit under the provisions of
Article 10 of this Lease.

 

20.1.4.3.                              Until such time as
Landlord shall elect to terminate the Lease and shall thereupon be entitled to
recover the amounts specified in such case in Section 20.1.3 of this
Lease, Tenant shall pay to Landlord upon demand the full amount of all rent,
including any amounts treated as additional rent under this Lease and other
sums reserved in this Lease for the remaining Term, together with the costs of
repairs, alterations, additions, redecorating and Landlord’s expenses of
reletting and the collection of the rent accruing therefrom (including
attorney’s fees and broker’s commissions), as the same shall then be due or
become due from time to time, less only such consideration as Landlord may have
received from any reletting of the Premises; and Tenant agrees that Landlord
may file suits from time to time to recover any sums falling due under this
Article 20 as they become due.  Any
proceeds of reletting by Landlord in excess of the amount then owed by Tenant
to Landlord from time to time shall be credited against Tenant’s future
obligations under this Lease but shall not otherwise be refunded to Tenant or
inure to Tenant’s benefit.

 

20.2.                        If,
on account of any breach or default by Tenant in Tenant’s obligations under the
terms and conditions of this Lease, it shall become necessary or appropriate
for Landlord to

 

18

 

employ or consult with an attorney concerning or to enforce or defend
any of Landlord’s rights or remedies arising under this Lease, Tenant agrees to
pay all Landlord’s reasonable attorney’s fees so incurred.  Tenant expressly waives any right to:  (a) trial by jury; and (b) service of any
notice required by any present or future law or ordinance applicable to
landlords or tenants but not required by the terms of this Lease.

 

20.3.                        Pursuit
of any of the forgoing the remedies shall not preclude pursuit of any of the
other remedies provided in this Lease or any other remedies provided by law
(all such remedies being cumulative), nor shall pursuit of any remedy provided
in this least constitute off forfeiture or waiver of any rent due to Landlord
under this Lease or of any damages accruing to Landlord by reason of the
violation of any other terms, provisions and covenants contained in this Lease.

 

20.4.                        No
act or thing done by Landlord or its agents during the term shall be deemed a
termination of this Lease or an acceptance of the surrender of the Premises,
and no agreement to terminate this Lease or accept or surrender of said
Premises shall be valid, unless in writing signed by the Landlord.  No waiver by Landlord of any violation or
breach of any of the terms, provisions and covenants contained in this Lease
shall be deemed or construed to constitute a waiver of any other violation or
breach of any of the terms, provisions and covenants contained in this
Lease.  Landlords acceptance of the
payment of rental or other payments after the occurrence of an event of default
shall not be construed as a waiver of such default, unless Landlord so notifies
Tenant in writing.  Forbearance by
Landlord in enforcing one or more of the remedies provided in this Lease upon
an event of default shall not been deemed or construed to constitute a waiver
of such default or of Landlords write to enforce any such remedies with respect
to such default or any subsequent default.

 

21.                                 TENANT’S BANKRUPTCY OR INSOLVENCY.

 

21.1.                        If
at any time in for so long as Tenant shall be subjected to the provisions of
the United States bankruptcy code or other law of the United States or any
state thereof for the protection of debtors as in effect at such time (each a
“debtor’s law”):

 

21.1.1.               To
the extent that the provisions of such Debtor’s Law shall prohibit the
declaring of an event described in Article 19 of this Lease to be a
default under the this Lease, worthy enforcement of any right or remedy
provided to Landlord in said Article 20, such event shall not be a default
and such right or remedy shall not be enforced.

 

21.1.2.               Except
to the extent expressly provided by such Debtor’s Law, Tenant, Tenant as
debtor-in-possession, in any trustee or receiver of Tenant’s assets (each a
“Tenant’s Representative”) shall have no greater right to remain in possession
of all or any part of the Premises than would be accorded to Tenant if such
Debtor’s Law were not applicable; if such Debtor’s Law requires or permits the
imposition upon or payment by Tenant’s Representative of charges for the use or
possession thereof, such charges shall in no event be less than the rent an
additional rent which are or would be payable absence of such Debtor’s Law
pursuant to Articles three and four of this Lease with respect to such portion
of the Premises for the period of such possession or use thereof by Tenant’s
Representative.

 

19

 

21.1.3.               Tenant’s
representative shall have no greater of right to assume or assign this Lease or
any interest in this Lease, or to sublease any of the Premises then accorded to
Tenant in Article 10 of this Lease, except to the extent Landlord shall be
required to permit such assumption, assignment or sublease by the provisions of
such debtors long.  Without limitation
of the generality of the foregoing, any right of any Tenant’s representative to
assume or assign this Lease or to sublease any of the Premises shall be subject
to the conditions that:

 

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

 

21.1.3.2.                              Tenant’s Representative
or the proposed assignee, as the case shall be, shall have deposited with
Landlord as security for the timely payment of Rent an amount equal to the
larger of:  (a) three months’ Rent and
other monetary charges accruing under this Lease; and (b) any sum specified in
Article 5; and shall have provided Landlord with adequate other assurance
of the future performance of the obligations of the Tenant under this
Lease.  Without limitation, such
assurances shall include, at least, in the case of assumption of this Lease,
demonstration to the satisfaction of the Landlord that Tenant’s Representative
has and will continue to have sufficient unencumbered assets after the payment
of all secured obligations and administrative expenses to assure Landlord that
Tenant’s Representative will have sufficient funds to fulfill the obligations
of Tenant under this Lease; and, in the case of assignment, submission of
current financial statements of the proposed assignee, audited by an
independent certified public accountant reasonably acceptable to Landlord and
showing a net worth and working capital in amounts determined by Landlord to be
sufficient to assure that the future performance by such assignee of all of the
Tenant’s obligations under this Lease.

 

21.1.3.3.                              The assumption or any
contemplated assignment of this Lease or subleasing any part of the Premises,
as shall be the case, will not breach any provision in any other lease,
mortgage, financing agreement or other agreement by which Landlord is bound.

 

21.1.3.4.                              Landlord shall have, or
would have had absent the Debtor’s Law, no right under Article 10 of this
Lease to refuse consent to the proposed assignment or sublessee by reason of
the identity or nature of the proposed assignee or sublease or the proposed use
of the Premises concerned.

 

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

 

20

 

23.                               DAMAGE BY FIRE, ETC.

 

23.1.                        In
the event the Premises or the Building are damaged by fire or other cause and
in Landlord’s reasonable estimation such damage can be materially restored
within ninety (90) days, Landlord shall forthwith repair the same and this
Lease shall remain in full force and effect, except that if such damage is not
the result of any negligence or willful misconduct of Tenant or its agents,
employees, or invitees, then Tenant shall be entitled to a proportionate
abatement in rent from the date of such damage.  Such abatement of rent shall be made pro rata in accordance with
the extent to which the damage and the making of such repairs shall interfere
with the use and occupancy by Tenant of the Premises from time to time.  Within thirty (30) days from the date
of such damage, Landlord shall notify Tenant, in writing, of Landlord’s
reasonable estimation of the length of time within which material restoration
can be made, and Landlord’s determination shall be binding on Tenant.  For purposes of this Lease, the Building or
Premises shall be deemed “materially restored” if they are in such condition as
would not prevent or materially interfere with Tenant’s use of the Premises for
the purpose for which it was being used immediately before such damage.

 

23.2.                        If
such repairs cannot, in Landlord’s reasonable estimation, be made within ninety
(90) days, Landlord and Tenant shall each have the option of giving the
other, at any time within sixty (60) days after such damage, notice terminating
this Lease as of the date of such damage. 
In the event of the giving of such notice, this Lease shall expire and
all interest of the Tenant in the Premises shall terminate as of the date of
such damage as if such date had been originally fixed in this Lease for the
expiration of the term.  In the event
that neither Landlord nor Tenant exercise the above set forth option to
terminate this Lease in the event of partial destruction, then Landlord shall
repair or restore such damage, this Lease continuing in full force and effect,
and the rent becoming due which this Lease shall be proportionately abated as
provided in Section 23.1 of this Lease. 
Landlord shall not be required to repair or replace any damage or loss
by or from fire or other cause to any panelings, decorations, partitions,
additions, railings, ceilings, floor coverings, office fixtures or any other
property or improvements installed on the Premises or belonging to Tenant.  Any insurance which may be carried by
Landlord or Tenant against loss or damage to the Building or Premises shall be
for the sole benefit of the party carrying such insurance and under its sole
control.

 

23.3.                        In
the event that Landlord should fail to complete such repairs and material
restoration within sixty (60) days after the date estimated by Landlord
therefor as extended by this Section 23.3, Tenant may at its option and as
its sole remedy terminate this Lease by delivering written notice to Landlord,
within fifteen (15) days after the expiration of said period of time, whereupon
the Lease shall end on the date of such notice or such later date fixed in such
notice as if the date of such notice was the date originally fixed in this
Lease for the expiration of the Term; provided, however, that if construction
is delayed because of changes, deletions or additions in construction requested
by Tenant, strikes, lockouts, casualties, Acts of God, war, material or labor
shortages, government regulation or control or other causes beyond a reasonable
control of Landlord, the period for restoration, repair or rebuilding shall be
extended for the amount of time Landlord is so delayed.  Notwithstanding anything to the contrary
contained in this Article:  (a) Landlord
shall not have any obligation whatsoever to repair, reconstruct, or restore the
Premises when the damages resulting from any casualty covered by the provisions
of this Article 23 occur during the last twelve (12) months of the Term or
any

 

21

 

extension thereof, but if Landlord determines not to repair such
damages Landlord shall notify Tenant and if such damages shall render any
material portion of the Premises untenantable Tenant shall have the right to
terminate this Lease by notice to Landlord within fifteen (15) days after
receipt of Landlord’s notice; and (b) in the event the holder of any
indebtedness secured by a mortgage or deed of trust covering the Premises or
Building requires that any insurance proceeds be applied to such indebtedness,
then Landlord shall have the right to terminate this Lease by delivering
written notice of termination to Tenant within fifteen (15) days after such
requirement is made by any such holder, whereupon this Lease shall end on the date
of such damage as if the date of such damage were the date originally fixed in
this Lease for the expiration of the Term.

 

23.4.                        In
the event of any damage or destruction to the Building or Premises by any peril
covered by the provisions of this Article 23, it shall be Tenant’s
responsibility to properly secure the Premises and upon notice from Landlord to
remove forthwith, at its sole cost and expense, such portion of all of the
property belonging to Tenant or its licensees from such portion or all of the
Building or Premises as Landlord shall request and Tenant hereby indemnifies,
protects, defends and holds Landlord harmless from any loss, liability, costs
and expenses, including attorney’s fees, arising out of any claim of damage or
injury as a result of any actual or alleged failure of Tenant to properly
secure the Premises prior to such removal and/or such removal.

 

24.                                 EMINENT DOMAIN. 
If all or any substantial part of the Premises shall be taken or
appropriated by any public or quasi-public authority under the power of eminent
domain, or conveyance in lieu of such conveyance, either party to this Lease
shall have the right, at its option, of giving the order, at any time within
thirty (30) days after such taking, notice terminating this Lease, except that
Tenant may only terminate this Lease by reason of taking or appropriations as
above provided, if such taking or appropriation shall be substantial as to
materially interfere with Tenant’s use and occupancy of the Premises.  If neither party to this Lease shall so
elect to terminate this Lease, the rental thereafter to be paid shall be
adjusted on a pro rata basis.  In
addition to the rights of Landlord above, if any substantial part of the
Building shall be taken or appropriated by any public or quasi-public authority
under the power of the eminent domain or conveyance in lieu thereof, and
regardless of whether the Premises or any part thereof are so taken or
appropriated, Landlord shall have the right, at its sole option, to terminate
this Lease.  Landlord shall be entitled
to any and all income, rent, award, or any interest whatsoever in or upon any
such sum, which may be paid or made in connection with any such public or
quasi-public use or purpose, and Tenant hereby assigns to Landlord any interest
it may have in or claim to all or any part of such sums, other than any
separate award which may be made with respect to Tenant’s trade fixtures and
moving expenses; Tenant shall make no claim for the value of any unexpired
Term.

 

25.                                 SALE BY LANDLORD. 
In the event of a sale or conveyance by Landlord of the Building, the
same shall operate to release Landlord from any future liability upon any of
the covenants or conditions, expressed or implied, contained in this Lease in
favor of Tenant, and in such event Tenant agrees to look solely to the
responsibility of the successor in interest of Landlord in and to this
Lease.  Except as set forth in this
Article 25, this Lease shall not be affected by any such sale and Tenant
agrees to attorn to the purchaser or assignee. 
If any security has been given by Tenant to secure the faithful
performance of any of the covenants of

 

22

 

this Lease, Landlord may transfer or deliver said security, as such, to
Landlord’s successor in interest and thereupon Landlord shall be discharged
from any further liability with regard to said security.

 

26.                                 ESTOPPEL CERTIFICATES.  Within ten (10) days following any written
request which Landlord may make from time to time, Tenant shall execute and
deliver to Landlord or mortgagee or prospective mortgagee a sworn statement
certifying:  (a) the date of
commencement of this Lease; (b) the fact that this Lease is unmodified and in
full force and effect (or, if there have been modifications to this Lease, that
this Lease is in full force and effect, as modified, and stating the date and
nature of such modifications); (c) the date to which the rent and other
sums payable under this Lease have been paid; (d) the fact that there are
no current defaults under this Lease by either Landlord or Tenant except as
specified in Tenant’s statement; and (e) such other matters as may be requested
by Landlord.  Landlord and Tenant intend
that any statement delivered pursuant to this Article 26 may be relied upon
by any mortgagee, beneficiary or purchaser and Tenant shall be liable for all
loss, cost or expense resulting from the failure of any sale or funding of any
loan caused by any material misstatement contained in such estoppel
certificate.  Tenant irrevocably agrees
that if Tenant fails to execute and deliver such certificate within such ten
(10) day period.  Landlord or Landlord’s
beneficiary or agent may execute and deliver such certificate on Tenant’s
behalf, and that such certificate shall be fully binding on Tenant if Tenant
fails to execute and deliver a contrary certificate within five (5) days after
receipt by Tenant of a copy of the certificate so executed on behalf of Tenant.

 

27.                                 SURRENDER OF PREMISES.

 

27.1.                        Tenant
shall, at least thirty (30) days before the last day of the Term, arrange to
meet Landlord for a joint inspection of the Premises.  In the event of Tenant’s failure to arrange such joint inspection
to be held prior to vacating the Premises, Landlord’s inspection at or after
Tenant’s vacating the Premises shall be conclusively deemed correct for
purposes of determining Tenant’s responsibility for repairs and restoration.

 

27.2.                        At
the end of the Term or any renewal of the Term or other sooner termination of
this Lease, Tenant will peaceably deliver up to Landlord possession of the
Premises, together with all improvements or additions upon or belonging to the
same, by whomsoever made, in the same conditions received or first installed,
broom clean and free of all debris, excepting only ordinary wear and tear and
damage by fire or other casualty. 
Tenant may, and at Landlord’s request shall, at Tenant’s sole cost,
remove upon termination of this Lease, any and all furniture, furnishings,
movable partitions of less than full height from floor to ceiling, trade
fixtures and other property installed by Tenant, title to which shall not be in
or pass automatically to Landlord upon such termination, repairing all damage
caused by such removal.  Property not so
removed shall unless requested to be removed be deemed abandoned by the Tenant
and title to the same shall thereupon pass to Landlord under this Lease as by a
bill of sale.  All other alterations,
additions and improvements in, on or to the Premises shall be dealt with and
disposed of as provided in Article 6 hereof.

 

23

 

27.3.                        All
obligations of Tenant under this Lease not fully performed as of the expiration
or earlier termination of the Term shall survive the expiration or earlier
termination of the Term.  Upon the
expiration or earlier termination of the Term, Tenant shall pay to Landlord the
amount, as estimated by Landlord, reasonably necessary to repair and restore
the Premises as provided in this Lease and/or to discharge Tenant’s obligation
for unpaid amounts due or to become due to Landlord.  All such amounts shall be used and held by Landlord for payment
of such obligations of Tenant, with Tenant being liable for any additional
costs upon demand by Landlord, or with any excess to be returned to Tenant
after all such obligations have been determined and satisfied.  Any otherwise unused Security Deposit shall
be credited against the amount payable by Tenant under this Lease.

 

28.                                 NOTICES. 
Any notice or document required or permitted to be delivered under this
Lease shall be addressed to the intended recipient, shall be transmitted
personally, by fully prepaid registered or certified United States Mail return
receipt requested, or by reputable independent contract delivery service
furnishing a written record of attempted or actual delivery, and shall be
deemed to be delivered when tendered for delivery to the addressee at its
address set forth on the Reference Page, or at such other address as it has
then last specified by written notice delivered in accordance with this
Article 28, or if to Tenant at either its aforesaid address or its last
known registered office or home of a general partner or individual owner,
whether or not actually accepted or received by the addressee.

 

29.                                 TAXES PAYABLE BY TENANT.  In addition to rent and other charges to be
paid by Tenant under this Lease, Tenant shall reimburse to Landlord, upon
demand, any and all taxes payable by Landlord (other than net income taxes)
whether or not now customary or within in the contemplation of the parties to
this Lease:  (a) upon, allocable to, or
are measured by or on the gross or net rent payable under this Lease, including
without limitation any gross income tax or excise tax levied by the State, any
political subdivision thereof, or the Federal Government with respect to the
receipt of such rent; (b) upon or with respect to the possession, leasing,
operation, management, maintenance, alteration, repair, use or occupancy of the
Premises or any portion thereof, including any sales, use or service tax
imposed as a result thereof; (c) upon or measured by the Tenant’s gross
receipts or payroll or the value of Tenant’s equipment, furniture, fixtures and
other personal property of Tenant or leasehold improvements, alterations or additions
located in the Premises; or (d) upon this transaction or any document to which
Tenant is a party creating or transferring any interest of Tenant in this Lease
or the Premises.  At Landlord’s election
said sums shall be reimbursed to Landlord in the same way as sums due under
Article 4 of this Lease.  In
addition to the foregoing, Tenant agrees to pay, before delinquency, any and
all taxes levied or assessed against Tenant and which become payable during the
term hereof upon Tenant’s equipment, furniture, fixtures and other personal
property of Tenant located in the Premises.

 

30.                                 LANDLORD’S LIENS. 
To secure the payment of all rentals and other sums of money becoming
due from Tenant under this Lease, Landlord shall have and Tenant grants to
Landlord a first lien upon the leasehold interest of Tenant under this Lease,
which lien may be enforced in equity, and a continuing security interest upon
all goods, wares, equipment, fixtures, furniture, inventory, accounts, contract
rights, chattel paper and other personal property of Tenant situated on the
Premises, and such property shall not be removed therefrom without the consent
of

 

24

 

Landlord until all arrearages in rent as well as any and all other sums
of money then due to Landlord under this Lease shall first have been paid and
discharged.  In the event of a Default
under this Lease, Landlord shall have, in addition to any other remedies
provided in this Lease or by law, all rights and remedies under the Uniform
Commercial Code, including, without limitation the right to sell the property
described in this Article 30 at public or private sale upon five
(5) days notice to Tenant.  Tenant
shall execute all such financing statements and other instruments as shall be
deemed necessary or desirable in Landlord’s discretion to perfect the security
interest hereby created.

 

31.                                 RELOCATION OF TENANT.  Landlord, at its sole expense, on at least
ninety (90) days prior written notice, may require Tenant to move from the
Premises to other space of comparable size and decor in the Building that are
containing improvements that are substantially similar to those contained in
the Working Drawings referenced in Exhibit B hereto in order to permit
Landlord to consolidate the space leased to Tenant with other adjoining space
leased or to be leased to another tenant. 
In the event of any such relocation, Landlord will pay all expenses of
preparing and decorating the new premises so that they will be substantially
similar to the Premises from which Tenant is moving, and Landlord will also pay
the expense of moving Tenant’s furniture and equipment to the relocated
premises.  In such event this Lease and
each and all of the terms and covenants and conditions thereof shall remain in
full force and effect and thereupon be deemed applicable to such new space
except that a revised Reference Page and a revised Exhibit A shall become part
of this Lease and shall reflect the location of the new premises.

 

32.                                 REMOVAL OF TENANT’S PROPERTY.  Any and all property which may be removed
from the Premises by Landlord pursuant to the authority of this Lease or of
law, to which Tenant is or may be entitled, may be handled, removed and/or
stored, as the case may be, by or at the direction of Landlord but at the risk,
cost and expense of Tenant, and Landlord shall in no event be responsible for
the value, preservation or safekeeping thereof.  Tenant shall pay to Landlord, upon demand, any and all expenses
incurred in such removal and all storage charges against such property so long
as the same shall be in Landlord’s possession or under Landlord’s control.  Any such property of Tenant not retaken by
Tenant from storage within thirty (30) days after removal from the
Premises shall, at Landlord’s option, be deemed conveyed by Tenant to Landlord
under this Lease as by a bill of sale without further payment or credit by
Landlord to Tenant.

 

33.                                 DEFINED TERMS AND HEADINGS.  The Article headings shown in this
Lease are for convenience of reference and shall in no way define, increase,
limit or describe the scope or intent of any provision of this Lease.  Any indemnification or insurance of Landlord
shall apply to and inure to the benefit of all the following “Landlord Entities”,
being Landlord, Landlord’s investment manager, and the trustees, board of
directors, officers, general partners, beneficiaries, stockholders, employees
and agents of each of them.  Any option
granted to Landlord shall also include or be exercisable by Landlord’s trustee,
beneficiary, agents and employees, as the case may be.  In any case where this Lease is signed by
more than one person, the obligations under this Lease shall be joint and
several.  The terms “Tenant” and
“Landlord” or any pronoun used in place thereof shall indicate and include the
masculine or feminine, the singular or plural number, individuals, firms or
corporations, and their and each of their respective successors, executors,

 

25

 

administrators and permitted assigns, according to the context
hereof.  The term “rentable area” shall
mean the rentable area of the Premises or the Building as calculated by the
Landlord on the basis of the plans and specifications of the Building including
a proportionate share of any common areas. 
Tenant hereby accepts and agrees to be bound by the figures for the
rentable space footage of the Premises and Tenant’s Proportionate Share shown
on the Reference Page.

 

34.                                 TENANT’S AUTHORITY.  If Tenant signs as a corporation each of the persons executing
this Lease on behalf of Tenant represents and warrants that Tenant has been and
is qualified to do business in the State of Illinois, that the corporation has
full right and authority to enter into this Lease, and that all persons signing
on behalf of the corporation were authorized to do so by appropriate corporate
actions.  If Tenant signs as a
partnership, trust or other legal entity, each of the persons executing this
Lease on behalf of Tenant represents and warrants that Tenant has complied with
all applicable laws, rules and governmental regulations relative to its right
to do business in the State of Illinois and that such entity on behalf of the
Tenant was authorized to do so by any and all appropriate partnership, trust or
other actions.  Tenant agrees to furnish
promptly upon request a corporate resolution, proof of due authorization by
partners, or other appropriate documentation evidencing the due authorization
of Tenant to enter into this Lease.

 

35.                                 ENFORCEABILITY.  If for any reason whatsoever any of the provisions of this Lease
shall be unenforceable or ineffective, all of the other provisions shall be and
remain in full force and effect.

 

36.                                 COMMISSIONS. 
Each of the parties:  (a)
represents and warrants to the other that it has not dealt with any broker or
finder in connection with this Lease, except as described on the Reference
Page; and (b) indemnifies and holds the other harmless from any and all losses,
liability, costs or expenses (including attorneys’ fees) incurred as a result of
any alleged breach of the foregoing warranty by it.

 

37.                                 TIME AND APPLICABLE LAW.  Time is of the essence of this Lease and all
of its provisions.  This Lease shall in
all respects be governed by the laws of the State of Illinois.

 

38.                                 SUCCESSORS AND ASSIGNS.  Subject to the provisions of
Article 10, the terms, covenants and conditions contained in this Lease
shall be binding upon and inure to the benefit of the heirs, successors,
executors, administrators and assigns of the parties to this Lease.

 

39.                                 ENTIRE AGREEMENT.  This Lease, together with its exhibits, contains all agreements
of the parties to this Lease and supersedes any previous negotiations.  There have been no representations made by
the Landlord or understandings made between the parties other than those set
forth in this Lease and its exhibits. 
This Lease may not be modified except by a written instrument duly
executed by the parties to this Lease.

 

40.                                 EXAMINATION NOT OPTION.  Submission of this Lease shall not be deemed
to be a reservation of the Premises. 
Landlord shall not be bound by this Lease until it has received a copy
of this Lease duly executed by Tenant and has delivered to Tenant a copy of
this Lease duly executed by Landlord, and until such delivery Landlord reserves
the right to exhibit and lease the

 

26

 

Premises to other prospective tenants. 
Notwithstanding anything contained in this Lease to the contrary,
Landlord may withhold delivery of possession of the Premises from Tenant until
such time as Tenant has paid to Landlord any security deposit required by
Article 5 of this Lease, the first month’s rent as set forth in
Article 3 of this Lease and any sum owed pursuant to this Lease.

 

41.                                 RECORDATION. 
Tenant shall not record or register this Lease or a short form
memorandum hereof without the prior written consent of Landlord, and then shall
pay all charges and taxes incident such recording or registration.

 

42.                                 LIMITATION OF LANDLORD’S LIABILITY.  Redress for any claim against Landlord under
this Lease shall be limited to and enforceable only against and to the extent
of Landlord’s interest in the property of which the Premises are a part.  The obligations of Landlord under this Lease
are not intended to and shall not be personally binding on, nor shall any
resort be had to the private properties of, any of its trustees or board of
directors and officers, as the case may be, its investment manager, the general
partners thereof, or any beneficiaries, stockholders, employees, or agents of
Landlord or the investment manager.

 

43.                                 RIGHT OF FIRST OFFER.

 

So long as this Lease is in full force and effect and free of any
default on the part of Tenant hereunder, Tenant shall have the right to lease
the portion of the 20th floor of the Building that is currently immediately
contiguous to the Premises as shown on Exhibit A-1 attached hereto (the
“Option Premises”).  Except for any
renewals or expansion rights of existing tenancies in the Building, Landlord
agrees that prior to leasing the Option Premises to others, Landlord shall
first give Tenant written notice that such space is or will become
available.  Such notice shall specify
the rate of rent, which rate shall be the same rate that Landlord will in good
faith offer the Option Premises to third parties, the effective date (the
“Effective Date”) and other terms and provisions upon which Landlord is willing
to add the Option Premises to the Premises leased by this Lease for the balance
of the Initial Term and any Renewal Term hereof.  Thereupon Tenant shall have and is hereby granted the right and
option, to be exercised only by written notice given to Landlord within ten
(10) days after the date of Landlord’s notice, to elect to add the Option
Premises to the Premises leased by this Lease at the rate of rent and other
terms and provisions specified in Landlord’s notice to Tenant; and upon timely
giving of said notice, the Option Premises shall be so added to the Premises as
of the Effective Date; all provided, however, that both at the date of Tenant’s
notice and at the Effective Date, this Lease is in full force and effect and
free of any default on the part of Tenant hereunder.  In the event that Tenant elects to lease the Option Premises,
Landlord shall be under no obligation to construct improvements in the Option
Premises and Tenant agrees that the Option Premises shall be delivered “as
is”.  In the absence of timely notice
from Tenant, Landlord shall have the right to lease the Option Premises to such
party or parties upon and subject to such rates, period of time and other terms
and provisions as Landlord shall elect, and Landlord shall not again be
required to offer that available space to Tenant before so leasing it to
others.

 

44.                                 TERMINATION OPTION.

 

44.1.                        Provided
Tenant shall not have expanded the Premises or exercised its Right of First
Offer as set forth in Article 43 above, and provided Tenant shall not have
taken any other

 

27

 

additional space in the Building or in 150 S. Wacker Drive, and
subject as herein provided, Tenant shall have and is hereby granted the
following option (“Termination Option”) to cancel and terminate this Lease as
of June 30, 2001 (the “Effective Date”), but only by giving written notice
of such election, to Landlord not later than September 30, 2000, which
notice must be accompanied by a termination payment equal to the amount
computed in accordance with the provision of Section 44.2.  If Tenant fails to give said notice and make
said payment by said date, Tenant will be conclusively deemed to have waived
this Termination Option.

 

44.2.                        Tenant
understands and agrees that in entering into this Lease, Landlord is relying
upon receipt of all the Annual and Monthly Installments of Rent to become due
with respect to all the Premises originally leased hereunder over the full
remaining Initial Term of this Lease for amortization, including an interest
factor of ten (10%) percent per annum, of the Concession Amount.  For purposes hereof, the “Concession Amount”
shall be defined as the aggregate of all amounts expended by Landlord under the
Work Letter to this Lease (Exhibit B hereof), for brokers’ commissions incurred
in connection with this Lease. 
Accordingly, Tenant agrees that the termination payment referred to in
Section 44.1 above shall be equal to the amount (“Unamortized Amount”) of
the Concession Amount determined in the same manner as the remaining principal
balance of a 10% mortgage payable in level monthly payments over the same
length of time, from the effectuation of the Concession Amount calculated to
the end of the full Initial Term of this Lease, would be determined.  To illustrate, according to a standard
mortgage amortization table, the principal amount outstanding at the end of the
fifth year of a loan for $100,000.00, payable in level monthly payments with
interest at 10% over ten years, will be $63,042.96, assuming all payments to
that point are made as due.

 

44.3.                        The
Termination Option shall be and is subject to and may be exercised only if both
at the date of Tenant’s notice and at the Effective Date this Lease shall be in
full force and effect, free of any monetary or material other default on the
part of Tenant hereunder.

 

45.                                 OPTION TO RENEW.

 

45.1.                        Provided
Tenant currently has no uncured default of any obligation, covenant or
condition of this Lease, Tenant shall have the option to renew the Term for
[***] following the Termination Date indicated on the Reference Page ([***]
immediately following the Termination Date is the “Renewal Term”).  The option to renew the Lease for the
Renewal Term must be exercised in a written notice thereof by Tenant which must
be delivered to Landlord at least [***] to the Termination Date.  If the required notice to renew the Lease
for the Renewal Term is not delivered by said [***] date, Tenant will be
conclusively deemed to have waived this option to renew.

 

45.2.                        The
rent during the Renewal Term shall be equal to the then Market Rent (as defined
hereinafter) for the Premises.  Written
notice of Landlord’s determination of Market Rent shall be sent to Tenant
within thirty (30) days after Landlord’s receipt of Tenant’s notice to renew
for the Renewal Term.  Unless Tenant
sends Landlord a written notice within thirty (30) days after Tenant’s
receipt of said determination withdrawing its exercise of its option to renew,
Landlord’s determination of rent shall be conclusively binding upon the parties
for the Renewal Term.  If Tenant does
send Landlord such written withdrawal within said thirty (30) day period,
then Tenant will be conclusively deemed to have waived said option to renew.

 

*** Certain information on this page has been omitted and filed
separately with the Securities and Exchange Commission. Confidential treatement
has been requested with respect to the omitted portions.

 

28

 

45.3.                        “Market
Rent” shall mean the annual rental rate then being charged by similar buildings
in the area for improved space comparable to the Premises and for licenses to
operate rooftop Antennae (as hereinafter defined) for leases commencing on or
about the time of the applicable renewal period, taking into consideration use,
location and floor level within the applicable building, the location, quality,
age and reputation of the building, the definition of rentable area or net
rentable area, as the case may be, with respect to which such rental rates are
computed, comparative leasehold improvement, rental concessions and abatements,
lease assumptions or take-overs, moving expenses, the term of the lease under
consideration and the extent of services provided thereunder, applicable
distinctions between “gross” leases and “net” leases, base year figures for
escalation purposes, other adjustments (including, by way of example, indexes) to
base rental, and any other relevant term or condition in making such
evaluation.

 

46.                                 LICENSE TO USE ROOFTOP SPACE.

 

46.1                           Landlord
hereby grants to Tenant a license (the “License”) to:  (1) maintain and operate four (4) parabolic dish antennae
(herein singularly called “Antenna” and collectively called the “Antennae”) on
the roof of the Building; and (2) use, in common with others, common
utility conduits and shafts currently in place within the Building and
connecting the Premises to the Antennae (the locations for the Antennae and the
common utility shafts and conduits being herein collectively called the
“Equipment Space Area”), for the purpose of installing, operating, and
maintaining the Antennae, and for connecting the Antennae to the Premises by means
of coaxial or other wire or cable through the Equipment Space Area.  Tenant understands that Landlord shall
designate the portions or areas of the Building to be used as Equipment Space
Area.  Tenant’s use of the space for the
Antennae licensed hereunder shall be exclusive, but Tenant’s use of the other
Equipment Space Area shall be nonexclusive, and Landlord shall at all times
have access to such Equipment Space Area for the purpose of operating,
maintaining, repairing, or improving the Building, and Landlord may grant
licenses to other tenants in the Building or others to use portions of the
Equipment Space Area, other than the space for the Antennae licensed hereunder,
so long as such use does not unreasonably interfere with Tenant’s use as
permitted herein.

 

46.2.                        Tenant
agrees to pay to Landlord, as a license fee for Tenant’s use of the Equipment
Space Area, a monthly sum equal to [***] for each antennae referenced above
(herein called the “Base License Fee”). 
The Base License Fee, if any, is payable monthly, in advance, commencing
on the Commencement Date of the Lease, and thereafter on the first date of each
month during the term hereof.  A Base
License Fee for any additional antennae (“Additional Antennae”) licensed
hereunder shall be agreed to by Landlord and Tenant when and if Landlord grants
Tenant permission to install Additional Antennae.

 

46.3.                        In
addition to the Base License Fee, if any, Tenant shall pay to Landlord, as
additional rent, on a monthly basis, the actual costs incurred by Landlord in
furnishing electric power for the operation of the Antennae.  Landlord and Tenant agree that Landlord
shall install a meter to monitor Tenant’s use of electricity furnished by
Landlord in the operation of the Antennae. 
All amounts due under this Article shall constitute additional rent
for purposes of this Lease.

 

*** Certain information on this page has been omitted and filed
separately with the Securities and Exchange Commission. Confidential treatement
has been requested with respect to the omitted portions.

 

 

29

 

46.4.                        The
term of this license shall be coterminous with the Initial Term of this
Lease.  All of the Antennae installed in
the Equipment Space Area shall be and remain the property of Tenant, and Tenant
shall, prior to the expiration or termination of the Lease, remove the Antennae
(including all installation and anchoring hardware) and, if requested by
Landlord, any cabling and other equipment used by Tenant in connection with the
Antennae, and Tenant shall surrender the Equipment Space Area in substantially
the same condition existing prior to the installation of the Antennae.  Tenant shall be liable for, and shall
promptly reimburse Landlord for, the cost of repairing all damage done to the
Building by such removal, including filling and sealing any holes or cavities
left by the removal of installation or anchoring hardware.

 

46.5.                        Should
Landlord agree to the installation of Additional Antennae by Tenant, Tenant
shall, at its sole cost and expense, and at its sole risk, install the
Additional Antennae and related cabling and other equipment in a good and
workmanlike manner, and in compliance with all building, electric,
communications, and safety codes, ordinances, standards, regulations and
requirements of the municipal, state and Federal Governments, including,
without limitation, the Federal Communications Commission (the “FCC”) or any
successor agency having jurisdiction over radio or telecommunications.  Tenant shall deliver to Landlord Tenant’s
plans and specifications for the installation of the Additional Antennae for
review and approval by Landlord’s engineer not less than thirty (30) days prior
to commencing installation of the Additional Antennae.  Tenant shall not commence installation of
the Additional Antennae without the prior written consent of Landlord (which
consent shall not be unreasonably withheld or delayed), and all phases of the
installation shall be under the direct supervision of Landlord.  In no event shall Tenant’s installation of
the Additional Antennae damage the Building or existing structures on the
Building, or interfere with the maintenance of the Building, any system
currently serving the Building, or any radio or telecommunications equipment
currently being operated from the Building. 
Tenant shall notify Landlord upon completion of the installation of the
Additional Antennae, and Landlord shall have ten (10) days after installation
of the Additional Antennae in which to inspect the installation.  Tenant shall not commence operation of the
Additional Antennae until Landlord has approved the installation.  Tenant’s review and approval of the plans
and specifications for the installation of the Additional Antennae and Landlord’s
supervision and inspection of such installation shall not be construed in any
way as approval by Landlord of the adequacy or safety of the installation of
the Additional Antennae or a waiver of any of Landlord’s rights hereunder, and
Tenant shall be solely responsible for the adequacy and safety of the
installation and operation of the Additional Antennae and solely liable for any
damages or injury arising out of such installation and operation.  Tenant shall pay to Landlord upon demand the
cost of repairing any damage to the Building caused by such installation.  The Additional Antennae shall be connected
to Landlord’s power supply in strict compliance with all applicable Building,
electrical, fire and safety codes. 
Landlord shall not be liable to Tenant for any stoppages or shortages of
electrical power furnished in the Equipment Space Area because of any act,
omission, or requirement of the public utility serving the Building, or the act
or omission of any other tenant, licensee, or contractor of the Building, or
for any other cause beyond the reasonable control of Landlord, and Tenant shall
not be entitled to any abatement or offset of the Base License Fee for any such
stoppage or shortage of electrical power. 
Notwithstanding the foregoing, Landlord acknowledges that Tenant has
already installed four (4) Antennae at the Building.

 

30

 

46.6.                        Landlord
agrees that Tenant shall have
continuous access to the Equipment
Space Area for the purpose of
installing, operating, maintaining, repairing, and removing the Antennae,
provided, however, that such access shall
be limited to authorized engineers of
Tenant, or persons under their direct supervision.  Tenant shall deliver to Landlord a list of Tenant’s authorized representatives, repair,
maintenance, and engineering personnel prior to any access to the Equipment Space Area, and those persons shall
be required to sign in and out
with Landlord’s security personnel when entering or exiting the Equipment Space Area.  Landlord shall have no
responsibility or liability for the conduct or safety of any of Tenant’s
representatives, repair, maintenance, and engineering personnel while in any
part of the Building or the
Equipment Space Area, it being understood and agreed that
Tenant shall be solely liable for any injury
to or death of any such person from any cause
resulting from the installation,
operation, maintenance, repair,
inspection, use, or removal of such equipment by Tenant or its agents, employees, representatives, contractors, or invitees.

 

46.7.                        Tenant
shall operate the Antennae in
strict compliance with Landlord’s rules and regulations, now or hereafter
promulgated, and all applicable
statutes, codes, rules, regulations, standards, and requirements of all
Federal, state, and local
governmental boards, authorities, and
agencies, including, without limitation,
the FCC.  Tenant, prior to installing the Additional Antennae,
shall have, and, shall deliver to Landlord
copies of, all required permits, licenses, and consents to
install and operate the Additional Antennae.  The installation, operation, and maintenance of the
Additional Antennae shall at all
times strictly comply with the
technical standards approved by Landlord.  The operation of the Antennae shall not interfere with the maintenance or operation of the Building,
or any system now or hereafter
serving the Building, or the operation
of any existing radio, microwave, satellite, or telecommunications equipment operated on or from the
Building.  In the event that the
operation of the Antennae would violate any of the terms or conditions of this subparagraph
(g), Tenant agrees to either cure
such violation or suspend operation of the Antennae within forty-eight (48) hours after notice from Landlord of such violation, and not to resume
operation of the Antennae until such operation is in strict compliance with all of the requirements of this subparagraph (g).  In the event Tenant refuses to either cure such violation or suspend operation of the
Antennae when so notified by Landlord, or in the event of an emergency, Landlord shall have
the right to either cure such violation
or suspend the supply of electric power to the Antennae, and Landlord shall have no liability to Tenant, and Tenant shall have
no right to an abatement or offset of Base License Fees, for such suspension.

 

46.8.                        During the term hereof, Landlord reserves the
right to Lease space in the Building, and to grant license for space on the
roof of the Building, for the operation of radio, microwave, satellite, and
telecommunications equipment by other tenants and licensees; provided, however,
that such other equipment (exclusive of the equipment now situated on the roof
of the Building) shall not hinder or interfere with tenants installation,
operation, maintenance, or repair of the antennae.

 

31

 

	
  LANDLORD:

  	
  TENANT:

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  RREEF USA FUND-I HARTFORD PLAZA 

  	
  TOWNSEND ANALYTICS,

  
	
  INC.,  a
  Delaware corporation

  	
  LTD., an Illinois corporation

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:  RREEF Management Company,

  	
   

  	
   

  	
   

  
	
  A
  California corporation

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Charmaine Ali

  	
   

  	
  By:

  	
  /s/ MarrGwen Townsend

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Title:

  	
  General Manager

  	
   

  	
  Title:

  	
  Vice President

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Date:

  	
  6/10/1996

  	
   

  	
  Dated:

  	
  6/7/1996

  
							

 

32

 

EXHIBIT
A

 

Attached to and made a part of Lease bearing
the

Lease Reference Date of June 3, 1996 between

RREEF USA FUND-I HARTFORD PLAZA, INC., as Landlord and

TOWNSEND ANALYTICS, LTD., as Tenant

Suite 2040, 100 South Wacker Drive

Chicago, Illinois 60606

 

PREMISES

 

Exhibit A is intended only to show the
general layout of the Premises as of the beginning of the Term of this
Lease.  It does not in any way supersede
any of Landlord’s rights set forth in Section 18.3 of the Lease with
respect to arrangements and/or locations of public parts of the Building and
changes in such arrangements and/or locations. 
It is not to be scaled; any measurements or distances shown should be
taken as approximate.

 

	
   

  	
  [Graphics]

  
	
   

  	
  9,166 Square feet

  
	
   

  	
  (Approximate Configuration)

  

 

 

EXHIBIT
A-1

 

Attached to and made a part of Lease bearing
the

Lease Reference Date of June 3, 1996 between

RREEF USA FUND-I HARTFORD PLAZA, INC., as Landlord and

TOWNSEND ANALYTICS, LTD., as Tenant

Suite 2040, 100 South Wacker Drive

Chicago, Illinois 60606

 

OPTION PREMISES

 

Exhibit A-1 is intended only to show the
general layout of the Option Premises as of the beginning of the Term of this
Lease.  It does not in any way supersede
any of Landlord’s rights set forth in Section 18.3 of the Lease with
respect to arrangements and/or locations of public parts of the Building and
changes in such arrangements and/or locations. 
It is not to be scaled; any measurements or distances shown should be
taken as approximate.

 

[Graphics]

 

 

EXHIBIT
B

 

Attached to and made a part of Lease bearing
the

Lease Reference Date of June 3, 1996 between

RREEF USA FUND-I HARTFORD PLAZA, INC., as Landlord and

TOWNSEND ANALYTICS, LTD., as Tenant

Suite 2040, 100 South Wacker Drive

Chicago, Illinois 60606

 

WORK LETTER

 

The undersigned, Landlord and Tenant,
respectively, are executing simultaneously with this Work Letter a written
Lease covering premises (the “Premises”) as described in the Lease and hereby
attach this Work Letter to said Lease as Exhibit B thereto.  Any defined term used in this Exhibit B
which is not defined herein shall have the meaning provided for such term in
the Lease.

 

In consideration of the mutual covenants
contained herein and in the Lease, Landlord and Tenant agree as follows:

 

I.                                         Landlord Work and Plans

 

A.                                   Landlord agrees to do the Work (“Landlord
Work”) as shown on the drawings and specifications prepared by ASD, Inc. (the
“Architect”) and ESD, the engineer dated 5/8/1996 (the “Working Drawings”), a
copy of which is attached to this Work Letter as Schedule B-1, excluding
any Tenant furnishings, fixtures, equipment, communications and data cabling,
in electrical/data connections to Tenant’s furniture panels and systems.

 

B.                                     Any subsequent modifications, provisions or
changes to the Working Drawings are expressly subject to Landlord’s prior written
approval.

 

II.                                     Improvements

 

A.           Landlord shall pay for all costs and expenses
incurred in connection with the installation and construction of the
improvements specified in the approved Working Drawings.  If Tenant later requests changes, Tenant will
pay the net increase in cost of the improvements as a result of such changes.

 

III.                                 Tenant’s Extra Work

 

If Tenant requests Landlord to do any work in
connection with the Premises other than the Landlord Work, or Tenant requests
any modifications or changes to the Landlord Work after approval of the Working
Drawings and budget therefor which increases the cost to Landlord, and
Landlord, in its sole discretion, approves of such other work in writing and
(such other work is hereinafter referred to as “Tenant’s Extra Work”), the
following terms, conditions, agreements, and procedures shall be applicable:

 

B - 1

 

A.                                   Tenant shall, at its sole cost and expense,
cause the Architect to prepare and submit to Landlord, on or before the date
construction commences (the “Plans Due Date”), all necessary drawings, plans,
and specifications covering the proposed Tenant’s Extra Work (such drawings,
plans and specifications are hereinafter referred to as “Tenant’s Extra Work
Plans”).

 

B.                                     Landlord agrees to cause Tenant’s Extra Work
to be constructed, provided that Tenant’s Extra Work Plans are acceptable to
Landlord and approved in writing by Landlord, that the timing of Tenant’s Extra
Work must be coordinated with scheduling of the Landlord’s Work, and that
Tenant has complied with all applicable provisions, terms and conditions of
this Work Letter.

 

C.                                     All such Tenant’s Extra Work shall be done at
Tenant’s sole cost and expense.  Prior
to commencing any of Tenant’s Extra Work, Landlord shall submit to Tenant for
Tenant’s approval a written estimate of the cost of Tenant’s Extra Work
(hereinafter called the “Estimate”).  If
Tenant fails to approve any Estimate in writing within three (3) business
days of its submission to Tenant, the Estimate shall be deemed disapproved and
Landlord shall not be obligated to proceed with Tenant’s Extra Work, and
Landlord may complete construction of the Landlord Work.  If Tenant approves the Estimate, Landlord
may require Tenant to deposit the amount of the Estimate with Landlord within
three (3) business days after Landlord’s written request therefor.  Such deposit shall be held as security for
the payment of, and shall be credited, without interest, against the sums
payable by Tenant under this Work Letter.

 

D.                                    If Tenant shall request any modifications,
revisions or changes to the Tenant’s Extra Work at any time and from time to
time, it shall follow the same procedure herein prescribed for the initiation,
approval and commencement of the Tenant’s Extra Work in each such case.

 

E.                                      Tenant agrees to pay to Landlord the
following sum for Tenant’s Extra Work:

 

1.       All costs and expenses pertaining to Tenant’s
Extra Work, subcontractors and general and other conditions, costs and
expenses, and

2.       An overhead charge of ten percent (10%) of
the total of all such costs under paragraph III. E. 1. hereof.

 

Tenant shall pay to Landlord within fifteen
(15) days after being billed therefor, at any time and from time to time, the
amount of such costs, expenses and charges for Tenant’s Extra Work set forth in
such billings, which amounts shall be treated as additional rent under the
Lease.

 

B - 2

 

IV.                                 Completion of the Work, Tenant’s Acts or
Omissions, and Defaults

 

A.                                   Landlord shall commence construction of the
Landlord Work and shall tender to Tenant the Premises substantially completed
on or prior to the Scheduled Commencement Date of the Lease, subject only to
ordinary punch list items.  Tenant shall
deliver a list of such punch list items, if any, within twenty (20) days
of Tenant’s occupancy of the Premises and Landlord shall complete such punch
list within forty-five (45) days overreaching written agreement on such punch
list items with Tenant.  Landlord’s obligation
to tender the Premises substantially completed on the Scheduled Commencement
Date is subject to acts and events beyond Landlord’s control, including but not
limited to acts of God, strikes and other occurrences of “force majeure.”  During construction of the Landlord Work,
Landlord shall use its best efforts to apprise Tenant of the construction
schedule for the Landlord Work.  In
the event that the Premises are not in fact substantially completed according
to such schedule, Landlord shall have a reasonable time after such date in
which to take such corrective action as Landlord deems necessary and shall
notify Tenant as soon as it deems such corrective action, if any, has been
completed so that the Premises are ready for occupancy.

 

B.                                     Notwithstanding anything in the Lease to the
contrary, if Tenant is not in default hereunder or under the Lease, Tenant
obligation to pay rent under the Lease shall not commence until Landlord shall
have substantially completed the Landlord Work; provided, however, that if
Landlord shall be delayed in substantially completing the Premises as a result
of any act or omission by Tenant, its agents, employees, representatives or
contractors, or any one or more of them including, without limitation, the
following:

 

1.                                       Tenant’s failure to approve any Estimate
within three (3) business days of its submission to Tenant; or

 

2.                                       Tenant’s failure to furnish to Landlord
Tenant’s Extra Work Plans by the required date; or

 

3.                                       Tenant’s failure to pay amounts or deposit
any Estimate required hereunder within the period set forth herein; or

 

4.                                       Tenant’s request for any materials, finishes,
or installations other than as specified in the Working Drawings; or

 

5.                                       Tenant’s request that Landlord delay or not
construct the Landlord Work or Tenant’s Extra Work in all or part of the
Premises; or

 

6.                                       Tenant’s delay in supplying Landlord or
Architect with any requested information; or

 

7.                                       Tenant’s changes at any time or from time to
time in any one or more of the following: 
Landlord Work, Tenant’s Extra Work, the Working

 

B - 3

 

Drawings or Tenant’s Extra Work Plans,
regardless of Landlord’s approval of any such changes; or

 

8.                                       The performance or completion by Tenant, for
any person or entity employed by Tenant, of any work on or about the Premises
including, without limitation, any disharmony or interference caused by such
performance or completion as further described in paragraph V. A. hereof; or

 

9.                                       Any other act or omission by Tenant or any of
its agents, employees, representatives or contractors;

 

then, in any such event, the commencement of
the term of the Lease in the payment of rent thereunder shall not be affected
or deferred on account of such delay notwithstanding that the Landlord Work and/or
the Tenant’s Extra Work may not be substantially completed.  The cost of any changes and/or additions
made to the Landlord Work, Tenant’s Extra Work, the Working Drawings, or
Tenant’s Extra Work Plans at the request of Tenant after Landlord and Tenant
have agreed on the Working Drawings or Tenant’s Extra Work Plans, including but
not limited to the actual cost of such changes or additions, the cost of any
revisions to the Working Drawings or Tenant’s Extra Work Plans, and the cost of
any delays in construction resulting from any Tenant requested changes, all as
determined by Landlord in its sole discretion, whether or not such changes are
finally agreed to, together with ten percent (10%) of such costs for Landlord’s
overhead, shall be paid by Tenant upon Landlord’s presentation of a bill
therefor or as herein required, and such amount shall be treated as additional
rent under the Lease.

 

B.                                     If Tenant shall fail to comply with any term,
provision or agreement here under or if Landlord and Tenant fail to reach
agreement on Tenant’s Extra Work Plans within fifteen (15) days after the
submission thereof to Landlord, and if any such matter is not remedied or
resolved to Landlord’s satisfaction within fifteen (15) days following
written notice to Tenant, then, in addition to any other remedies granted
Landlord under the Lease in the case of default by Tenant and any remedies
provided for elsewhere in this Work Letter or available at law or equity,
Landlord may elect, upon notice to Tenant, to: 
(1) discontinue all work hereunder, and Tenant’s obligation to pay
rent shall commence as of the Commencement Date set forth in the Lease, without
any abatement on account of any delay in connection with any work relating to
the Premises, (2) complete the construction of the Landlord Work pursuant to
the Working Drawings as approved by Landlord and Tenant or complete any work
which Landlord and Tenant have agreed to in writing, tendering possession to
Tenant upon substantial completion thereof, the date of such tender being
deemed to be the Commencement Date under the Lease, and charge Tenant for the
additional costs of completing the electrical, plumbing, office partitions and
other work, the plans and specifications for which have not been agreed to by
Landlord and Tenant,

 

B - 4

 

which amount shall be paid by Tenant to
Landlord as additional rent prior to any such work commencing, or (3) cancel
the Lease, effective fifteen (15) days after Tenant receives notice thereof, without
incurring any liability on account thereof and the term granted under the Lease
is expressly limited accordingly.  If
Landlord cancels the Lease pursuant to the terms hereof or as a result of
Tenant’s default under the Lease, such cancellation shall not affect Tenant’s
liability for any sums payable hereunder.

 

V.                                     Tenant’s Access to the Premises

 

A.                                   After receipt of written notice from Tenant
requesting access to the Premises, Landlord, in its sole discretion, may permit
Tenant and Tenant’s agent’s or contractors to enter the Premises prior to the
Commencement Date specified in the Lease in order that Tenant may do other
approved work or alterations as may be required by Tenant to make the Premises
ready for Tenant’s use and occupancy. 
If Landlord permits such prior entry, then such license shall be subject
to the condition that Tenant and Tenant’s agents, contractors, workmen,
mechanics, suppliers, and invitees shall work in harmony and not interfere with
Landlord and its agents and contractors in doing their work in the Building or
with other tenants and occupants of the Building.  If at any time such entry shall cause or threaten to cause such
disharmony or interference, Landlord, in its sole discretion, shall have the
right to withdraw and cancel such license upon twenty-four (24) hours written
notice to Tenant (or immediately in case of emergency or condition causing or
likely to cause harm to person or property) and any further prior entry shall
be prohibited.  Tenant agrees that any
entry into and any occupation of the Premises shall be deemed to be under all
of the terms, covenants, conditions and provisions of the Lease, except as to
the covenant to pay rent, and further agrees that to the extent permitted by
law, Landlord and its principals, employees and agents shall not be liable in
any way for any injury or death to any person or persons, loss or damage to any
of Tenant’s work and installations made in the Premises, or loss or damage to
property placed therein, the same being at Tenant’s sole risk.  Tenant agrees to protect, defend, indemnify,
and save harmless Landlord and its principals, employees and agents from all
liabilities, costs, damages, fees and expenses (including reasonable attorneys’
fees and expenses) arising out of or connected with the activities of Tenant or
its agents, contractors, workmen, mechanics, suppliers and invitees in or about
the Premises or the Building.

 

B.                                     In addition to any other conditions or
limitations on such license to enter the Premises prior to the said Occupancy
Date, Tenant expressly agrees that none of its agents, contractors, workmen,
mechanics, suppliers, or invitees shall enter the Premises prior to the date
they are tendered by Landlord unless and until each of them shall furnish such
assurances to Landlord, including but not limited to, insurance coverages,
waivers of lien, surety company performance bonds and personal guaranties of
individuals of substance, as Landlord shall require to protect Landlord against
any loss, casualty, liability, liens or claims.

 

B - 5

 

VI.                                 Miscellaneous

 

A.                                   Tenant expressly assumes the responsibility
and obligation of supplying Landlord and Architect with all information
concerning Tenant’s requirements with respect to the Landlord Work and Tenant’s
Extra Work and when requested by any of them.

 

B.                                     The Landlord Work and Tenant’s Extra Work, if
any, shall be done by the contractors and subcontractors designated by
Landlord, in accordance with the terms, conditions and provisions herein
contained.

 

C.                                     Except as set forth in Paragraph I. A.
hereof, Landlord has no other agreement with Tenant and has no obligation to do
any work with respect to the Premises. 
Any other work in the Premises which may be permitted by Landlord pursuant
to the terms and conditions of the Lease shall be done at Tenant’s sole cost
and expense in accordance with the terms and provisions herein set forth
pertaining to Tenant’s Extra Work and such additional requirements as Landlord
deems necessary or desirable.

 

D.                                    All rights and remedies of Landlord herein
created or otherwise existing at law or equity are cumulative, and the exercise
of one or more such rights or remedies shall not be deemed to exclude or waive
the right to the exercise of any other rights or remedies.  All such rights and remedies may be
exercised and enforced concurrently and whenever and as often as deemed
desirable.

 

E.                                      Time is of the essence under this Work
Letter.

 

F.                                      Any person signing this Work Letter on behalf
of the Tenant represents and warrants that he/she has the express authority of
the Tenant to do so.  Any person signing
this Work Letter on behalf of Landlord represents and warrants that he/she has
the express authority of Landlord to do so.

 

G.                                     The terms and provisions of the Lease are
hereby incorporated herein by reference and made a part hereof, but none of the
terms or provisions contained herein shall be interpreted to modify or amend
the Lease, except as provided in Paragraph IV hereof.  This Work Letter shall not be deemed
applicable to any additional office space added to the original Premises at any
time or from time to time, whether by any options under the Lease or otherwise,
or to any portion of the original Premises or any additions thereto in the
event of a renewal or extension of the original term of the Lease, whether by
any options under the Lease or otherwise.

 

H.                                    This Work Letter shall be binding upon and
inure to the benefit of the parties hereto and their respective heirs,
executors, legal representatives, successors and assigns.

 

I.                                         This Work Letter shall in all respects be
governed by the laws of Illinois.

 

B - 6

 

	
  LANDLORD:

  	
  TENANT:

  
	
  RREEF USA FUND-I HARTFORD

  	
  TOWNSEND ANALYTICS, LTD.,

  
	
  PLAZA, INC.,

  	
  an Illinois corporation

  
	
  a Delaware corporation

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:  RREEF Management Company,

  a California corporation

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Charmaine Ali

  	
   

  	
  By:

  	
  /s/ MarrGwen Townsend

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Title:

  	
  General Manager

  	
   

  	
  Title:

  	
  Vice President

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Date:

  	
  6/10/1996

  	
   

  	
  Dated:

  	
  6/7/1996

  
							

 

B - 7

 

SCHDULE B-1

 

[Working Drawings Prepared by
ASD, Inc. dated 5/8/1996]

 

 

EXHIBIT
C

 

Attached to and made a part of Lease bearing
the

Lease Reference Date of June 3, 1996

RREEF USA FUND-I HARTFORD PLAZA, INC., as Landlord and

TOWNSEND ANALYTICS, LTD., as Tenant

Suite 2040, 100 South Wacker Drive

Chicago, Illinois 60606

 

RULES AND REGULATIONS

 

1.                                       No sign, placard, picture, advertisement,
name or notice shall be installed or displayed on any part of the outside or
inside of the Building without the prior written consent of the Landlord.  Landlord shall have the right to remove, at
Tenant’s expense and without notice, any sign installed or displayed in
violation of this rule.  All approved
signs or lettering on doors and walls shall be printed, painted, affixed or
inscribed at the expense of Tenant by a person or vendor chosen by
Landlord.  In addition, Landlord
reserves the right to change from time to time the format of the signs or
lettering and to require previously approved signs or lettering to be
appropriately altered.

 

2.                                       If Landlord objects in writing to any
curtains, blinds, shades or screens attached to or hung in or used in
connection with any window or door of the Premises, Tenant shall immediately
discontinue such use.  No awning shall
be permitted on any part of the Premises. 
Tenant shall not place anything or allow anything to be placed against
or near any glass partitions or doors or windows which may appear unsightly, in
the opinion of Landlord, from outside the Premises.

 

3.                                       Tenant shall not obstruct any sidewalks,
halls, passages, exits, entrances, elevators, escalators or stairways of the
Building.  The halls, passages, exits,
entrances, shopping malls, elevators, escalators and stairways are not for the
general public, and Landlord shall in all cases retain the right to control and
prevent access to the Building of all persons whose presence in the judgment of
Landlord would be prejudicial to the safety, character, reputation and interests
of the Building and its tenants provided that nothing contained in this rule
shall be construed to prevent such access to persons with whom any tenant
normally deals in the ordinary course of its business, unless such persons are
engaged in illegal activities.  No
tenant and no employee or invitee of any tenant shall go upon the roof of the
Building without Landlord’s prior consent.

 

4.                                       The directory of the Building will be
provided exclusively for the display of the name and location of tenants only
and Landlord reserves the right to exclude any other names therefrom.

 

5.                                       All cleaning and janitorial services for the
Building and the Premises shall be provided exclusively through Landlord.  Tenant shall not cause any unnecessary labor
by carelessness or indifference to the good order and cleanliness of the
Premises.  Landlord shall not in any way
be

 

C - 1

 

responsible to any Tenant for any loss of
property on the Premises, however occurring, or from any damage to any Tenant’s
property by the janitor or any other employee or any other person.

 

6.                                       Landlord will furnish Tenant free of charge
with two keys to each door in the Premises. 
Landlord may make a reasonable charge for any additional keys, and Tenant
shall not make or have made additional keys, and Tenant shall not alter any
lock or install a new or additional lock or bolt on any door of its
Premises.  Tenant, upon the termination
of its tenancy, shall deliver to the Landlord the keys of all doors which have
been furnished to Tenant, and in the event of loss of any keys so furnished,
shall pay Landlord therefor.

 

7.                                       If Tenant requires telegraphic, telephonic,
burglar alarm or similar services, it shall first obtain, and comply with,
Landlord’s instructions in their installation.

 

8.                                       No equipment, materials, furniture, packages,
supplies, merchandise or other property will be received in the Building or
carried in the elevators except between such hours and in such elevators as may
be designated by Landlord.

 

9.                                       Tenant shall not place a load upon any floor
which exceeds the load per square foot which such floor was designed to carry
and which is allowed by law.  Landlord
shall have the right to prescribe the weight, size and position to all
equipment, materials, furniture or other property brought into the
Building.  Heavy objects shall stand on
such platforms as determined by Landlord to be necessary to properly distribute
to weight.  Business machines and
mechanical equipment belonging to Tenant which cause noise or vibration that
may be transmitted to the structure of the Building or to any space in the
Building to such a degree as to be objectionable to Landlord or to any tenants
shall be placed and maintained by Tenant, at Tenant’s expense, on vibration
eliminators or other devices sufficient to eliminate noise or vibration.  The persons employed to move such equipment
in or out of the Building must be acceptable to Landlord.  Landlord will not be responsible for loss
of, or damage to, any such equipment or other property from any cause, and all
damage done to the Building by maintaining or moving such equipment or other
property shall be repaired at the expense of Tenant.

 

10.                                 Tenant shall not use any method of sheeting
or air conditioning other than that supplied by Landlord.  Tenant shall not waste electricity, water or
air conditioning.  Tenant shall keep
corridor doors closed.

 

11.                                 Landlord reserves the right to exclude from
the Building between the hours of 6 p.m. and 7 a.m. the following
day, or such other hours as may be established from time to time by Landlord,
and on Sundays and legal holidays any person unless that person is known to the
person or employee in charge of the Building and has a pass or is properly
identified.  Tenant shall be responsible
for all persons for whom it requests passes and shall be liable to Landlord for
all acts of such persons.  Landlord
shall not be liable for damages for any error with regard to the admission to
or exclusion from the Building of any person.

 

12.                                 Tenant shall close and lock the doors of its
Premises and entirely shut off all water faucets and underwater apparatus and
electricity, gas or air outlets before Tenant and its

 

C - 2

 

employees leave the Premises.  Tenant shall be responsible for any damage
or injuries sustained by other tenants or occupants of the Building or by
Landlord for noncompliance with this rule.

 

13.                                 The toilet rooms, toilet, urinals, wash bowls
and other apparatus shall not be used for any purpose other than that for which
they were constructed, no foreign substance of any kind whatsoever shall be
thrown into any of them, and the expense of any breakage, stoppage or damage
resulting from the violation of this rule shall be borne by the Tenant who, or
whose employees or invitees, shall have caused it.

 

14.                                 Tenant shall not install any radio or
television antenna, loudspeaker or other device on the roof or exterior walls
of the Building.  Tenant shall not
interfere with radio or television broadcasting or reception from or in the
Building or elsewhere.

 

15.                                 Except as approved by Landlord, Tenant shall
not mark, drive nails, screw or drill into the partitions, woodwork or plaster
or in any way deface the Premises. 
Tenant shall not cut or bore holes for wires.  Tenant shall not affix any floor covering to the floor of the
Premises in any manner except as approved by Landlord.  Tenant shall repair any damage resulting
from noncompliance with this rule.

 

16.                                 Tenant shall not install, maintained or
operate upon the Premises any vending machine.

 

17.                                 Tenant shall store all its trash and garbage
within its Premises.  Tenant shall not
place in any trash box or receptacle any material which cannot be disposed of
in the ordinary and customary manner of trash and garbage disposal.  All garbage and refuse disposal shall be
made in accordance with directions issued from time to time by Landlord.

 

18.                                 No cooking shall be done or permitted by any
Tenant on the Premises, except by the Tenant of Underwriters’ Laboratory
approved equipment for brewing coffee, tea, hot chocolate and similar beverages
shall be permitted provided that such equipment and use is in accordance with
all applicable federal, state and city laws, codes, ordinances, rules and regulations.

 

19.                                 Tenant shall not use in any space or in the
public halls of the Building any hand trucks except those equipped with the
rubber tires and side guards or such other material-handling equipment as
Landlord may approve.  Tenant shall not
bring any other vehicles of any kind into the Building.

 

20.                                 Tenant shall not use the name of the Building
in connection with or in promoting or advertising the business of Tenant except
as Tenant’s address.

 

21.                                 The requirements of Tenant will be attended
to only upon appropriate application to the office of the Building by an
authorized individual.  Employees of
Landlord shall not perform any work or do anything outside of their regular
duties unless under special instruction from Landlord, and no employee of Landlord
will admit any person (Tenant or otherwise) to any office without specific
instructions from Landlord.

 

C - 3

 

22.                                 Landlord may waive any one or more of these
Rules and Regulations for the benefit of any particular tenant or tenants, but
no such waiver by Landlord shall be construed as a waiver of such Rules and
Regulations in favor of any other tenant or tenants, nor prevent Landlord from
thereafter enforcing any such Rules And Regulations against any or all of the
tenants of the Building.

 

23.                                 These Rules and Regulations are in addition
to, and shall not be construed to in any way modify or amend, in whole or in
part, the terms, covenants, agreements and conditions of any lease of premises
in the Building.

 

24.                                 Landlord reserves the right to make such
other and reasonable rules and regulations as in its judgment may from time to
time be needed for safety and security, for care and cleanliness of the
Building and for the preservation of good order in and about the Building.  Tenant agrees to abide by all such rules and
regulations in this Exhibit C stated in any additional rules and
regulations which are adopted.

 

25.                                 Tenant
shall be responsible for the observance of all of the foregoing rules by
Tenant’s employees, agents, clients, customers, invitees and guests.

 

C - 4

 

FIRST
AMENDMENT TO LEASE

 

THIS AMENDMENT, dated as of the 20th day of December, 1996,
between RREEF USA FUND-I HARTFORD PLAZA, INC., a Delaware corporation,
(“Landlord”) and TOWNSEND ANALYTICS, LTD., an Illinois corporation, (“Tenant”)
for the premises located in the City of Chicago, County of Cook, State of
Illinois, commonly known as Suite 2040, 100 South Wacker Drive.

 

1.                                       RECITALS.

 

Landlord and Tenant, being parties to that certain Office Lease with a
Lease Reference Date of June 3, 1996 (the “Lease”), hereby express their
mutual desire and intent to modify the rentable square footage of the Premises
and the Rent due under the Lease and amend by this writing those terms,
covenants and conditions contained in the Reference Page and Article 3
(“Rent”), delete Exhibit A, and add Exhibit A-1, all as hereinafter provided.

 

2.                                       AMENDMENTS.

 

A.           Effective March 1, 1997, the “Reference
Page” is hereby amended as follows:

 

	
  PREMISES RENTABLE AREA:

  	
   

  	
  approximately 9,939 sq. ft.

  
	
   

  	
   

  	
   

  
	
  TERMINATION DATE:

  	
   

  	
  August 31, 2003

  
	
   

  	
   

  	
   

  
	
  INITIAL ANNUAL RENT (Article 3):

  	
   

  	
  $13,752.00

  
	
   

  	
   

  	
   

  
	
  INITIAL MONTHLY INSTALLMENT

  	
   

  	
   

  
	
  OF ANNUAL RENT (Article 3):

  	
   

  	
  $5,068.42

  
	
   

  	
   

  	
   

  
	
  INITIAL ESTIMATED MONTHLY

  	
   

  	
   

  
	
  INSTALLMENTS OF RENT

  	
   

  	
   

  
	
  ADJUSTMENTS FOR DIRECT

  	
   

  	
   

  
	
  EXPENSES (Article 4):

  	
   

  	
  $4,928.09

  
	
   

  	
   

  	
   

  
	
  INITIAL ESTIMATED MONTHLY

  	
   

  	
   

  
	
  INSTALLMENTS OF RENT

  	
   

  	
   

  
	
  ADJUSTMENTS FOR TAXES (Article 4):

  	
   

  	
  $4,803.85

  
	
   

  	
   

  	
   

  
	
  TOTAL INITIAL MONTHLY

  	
   

  	
   

  
	
  INSTALLMENTS OF RENT (Articles 3 & 4):

  	
   

  	
  $14,800.36

  
	
   

  	
   

  	
   

  
	
  TENANT’S PROPORTIONATE SHARE:

  	
   

  	
  1.8674% (9,939/532,233 rsf)

  

 

 

B.             Section 3.1 is hereby amended as
follows:

 

The rate of Annual Rent and the Monthly Installments thereof to be in
effect throughout the Term of this Lease shall be as follows:

 

	
  Period

  	
   

  	
  Annual
  Rent

  	
   

  	
  Monthly
  Rent

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  3/1/97-8/31/97

  	
   

  	
  $

  	
  30,410.52

  	
  *

  	
  $

  	
  5,068.42

  	
   

  
	
  9/1/97-8/31/98

  	
   

  	
  $

  	
  65,790.48

  	
   

  	
  $

  	
  5,482.54

  	
   

  
	
  9/1/98-8/31/99

  	
   

  	
  $

  	
  70,760.04

  	
   

  	
  $

  	
  5,896.67

  	
   

  
	
  9/1/99-8/31/00

  	
   

  	
  $

  	
  75,729.48

  	
   

  	
  $

  	
  6,310.79

  	
   

  
	
  9/1/00-8/31/01

  	
   

  	
  $

  	
  80,699.04

  	
   

  	
  $

  	
  6,724.92

  	
   

  
	
  9/1/01-8/31/02

  	
   

  	
  $

  	
  85,668.60

  	
   

  	
  $

  	
  7,139.05

  	
   

  
	
  9/1/02-8/31/03

  	
   

  	
  $

  	
  90,638.04

  	
   

  	
  $

  	
  7,553.17

  	
   

  

       * for a period of
six months

 

C.             Exhibit A is hereby deleted in its
entirety, and Exhibit A-2 (attached to this First Amendment and made a part
hereof) is hereby inserted in lieu thereof.

 

D.            The parties agree and acknowledge that
Landlord’s obligations under Exhibit B (“WORK LETTER”) have been previously
satisfied in full.

 

E.              Exhibit B-1, attached to this First
Amendment and made a part of the Lease.

 

3.                                       INCORPORATION.

 

Except as modified herein, all other terms and conditions of the Lease
between the parties above described, as attached hereto, shall continue in full
force and effect.

 

Redress for any claims against Landlord under this Lease shall only be
made against Landlord to the extent of Landlord’s interest in the property to
which the leased premises are a part. 
The obligations of Landlord under this Lease shall not be personally binding
on, nor shall any resort be had to the private properties of, any of its
trustees or board of directors and officers, as the case may be, the general
partners thereof or any beneficiaries, stockholders, employees or agents of
Landlord, or the investment manager.

 

IN WITNESS WHEREOF, Landlord and Tenant have executed this First
Amendment as of the day and year first written above.

 

	
  LANDLORD:

  	
  TENANT:

  
	
   

  	
   

  
	
  RREEF USA FUND-I HARTFORD

  	
  TOWNSEND ANALYTICS, LTD

  
	
  PLAZA, INC., a Delaware corporation

  	
  an Illinois corporation

  
	
  By:  RREEF Management Company,

  	
   

  
	
  a California corporation

  	
   

  
	
   

  	
   

  
	
  By: 

  	
  /s/Charmaine Ali

  	
   

  	
  By: 

  	
  /s/MarrGwen Townsend

  	
   

  
	
  Title:

  	
  VP / Gen. Mgr.

  	
   

  	
  Title: 

  	
  Vice President

  	
   

  
										

 

 

SECOND
AMENDMENT TO LEASE

 

THIS
AMENDMENT, dated as of the 17th day of July, 1997, between RREEF USA
FUND-I HARTFORD PLAZA, INC., a Delaware corporation, (“Landlord”) and TOWNSEND
ANALYTICS, LTD. (“Tenant”) for the premises located in the City of Chicago,
County of Cook, State of Illinois, commonly known as Suite 2040, 100 South
Wacker Drive.

 

1.                                       RECITALS.

 

Landlord and Tenant, being parties to that
certain Office Lease with a Lease Reference Date of June 3, 1996 (the
“Lease”), as amended by the First Amendment to Lease dated December 20,
1996, hereby express their mutual desire and intent to increase the rentable
square footage of the Premises and the Rent due under the Lease, and amend by
this writing those terms, covenants and conditions contained in the Reference
Page, Article 3 (“RENT”), Article 4 (“RENT ADJUSTMENTS”), Exhibit A
(“PREMISES”) and Exhibit B (“INITIAL ALTERATIONS”), and add Exhibit A-1
(“PREMISES”) and Exhibit B-1  (“INITIAL
ALTERATIONS”), all as hereinafter provided.

 

2.                                       AMENDMENTS.

 

A.                                   Effective on the
earlier of September 1, 1997 or the date that the approved Tenant
Improvement work in Suite 2012 is substantially completed (said earlier date is
the “Effective Date”), the “Reference Page” is hereby amended to read as
follows:

 

PREMISES IDENTIFICATION:                           Suite Numbers 2040 and 2012
(for outline of Premises see Exhibit A for Suite 2040 and Exhibit A-1 for Suite
2012 attached to this Lease and made a part of this Lease by this reference)

 

PREMISES RENTABLE AREA:

Suite 2040                                                                                                                  Approximately
9,939 sq.  ft.

Suite 2012                                                                                                                  Approximately
3,241 sq.  ft.

 

INITIAL ANNUAL RENT

(Article 3):

Suite 2040                                                                                                                     [***]

Suite 2012                                                                                                                  $21,876.72

 

INITIAL MONTHLY

INSTALLMENT OF BASE

RENT (Article 3):

Suite 2040                                                                                                                     [***]

Suite 2012                                                                                                                  $1,823.06

 

*** Certain information on this page has been omitted and filed
separately with the Securities and Exchange Commission. Confidential treatment
has been requested with respect to the omitted portions.

 

 

INITIAL ESTIMATED

MONTHLY INSTALLMENTS

OF RENT ADJUSTMENTS

FOR DIRECT                               EXPENSES:

(Article 4)

Suite 2040                                                                                                                  [***]

Suite 2012                                                                                                                  $1,688.02

 

INITIAL ESTIMATED

MONTHLY INSTALLMENTS

OF RENT ADJUSTMENTS

FOR TAXES:

(Article 4)

Suite 2040                                                                                                                  [***]

Suite 2012                                                                                                                  $1,607.00

 

TOTAL INITIAL

INSTALLMENTS OF RENT:

(Articles 3 and 4)

Suite 2040                                                                                                                  [***]

Suite 2012                                                                                                                  $5,118.08

 

TENANT’ S PROPORTIONATE

SHARE:

Suite 2040                                                                                                                  1.8674%
(9,939/532,233)

Suite 2012                                                                                                                  0.6089%
(3,241/532,233)

 

SECURITY DEPOSIT                                                                                      NONE

 

B.             “3. 
RENT” is hereby amended as follows:

 

Effective on the Effective Date, the Annual
Rent and Monthly Installments of Base Rent payable for the balance of the Term
shall be as follows:

 

Suite 2040

 

	
  Period

  	
   

  	
  Annual
  Rent

  	
   

  	
  Monthly
  Installment

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  [***]

  	
   

  	
  [***]

  	
   

  	
  [***]

  

 

*** Certain information on this page has been omitted and filed
separately with the Securities and Exchange Commission. Confidential treatment
has been requested with respect to the omitted portions.

 

 

Suite 2012

 

	
  Period

  	
   

  	
  Annual
  Rent

  	
   

  	
  Monthly
  Installment

  	
   

  
	
  9/1/97-8/31/98

  	
   

  	
  $

  	
  21,876.72

  	
   

  	
  $

  	
  1,823.06

  	
   

  
	
  9/1/98-8/31/99

  	
   

  	
  $

  	
  23,497.20

  	
   

  	
  $

  	
  1,958.10

  	
   

  
	
  9/1/99-8/31/00

  	
   

  	
  $

  	
  25,117.80

  	
   

  	
  $

  	
  2,093.15

  	
   

  
	
  9/1/00-8/31/01

  	
   

  	
  $

  	
  26,738.28

  	
   

  	
  $

  	
  2,228.19

  	
   

  
	
  9/1/01-8/31/02

  	
   

  	
  $

  	
  28,358.76

  	
   

  	
  $

  	
  2,363.23

  	
   

  
	
  9/1/02-8/31/03

  	
   

  	
  $

  	
  29,979.24

  	
   

  	
  $

  	
  2,498.27

  	
   

  

 

C.                                     Article 47
(“TENANT ALLOWANCE”) is added to Lease as follows: “Landlord shall pay up to
Forty-Eight Thousand, Six Hundred Fifteen and No/100 Dollars ($48,615.00)
($15.00/rsf) as a Tenant Allowance for construction of improvements approved by
Landlord to be installed by Tenant in the portion of the Premises designated as
Suite 2012.  Landlord may, at its
option, pay said sum directly to the contractors or may reimburse said sum to
Tenant, in either case upon completion of said installation and upon Landlord’s
receipt of acceptable sworn statements and final lien waivers from the
contractors; provided that Tenant has paid the entire balance of the
construction cost for said improvements in excess of $48,615.00.

 

D.                                    Exhibit A-1 (“SUITE
2012”) attached hereto is hereby added to the Lease.

 

E.                                      Exhibit B
(“INITIAL ALTERATIONS”) is deleted in its entirety and Exhibit B-1 (“INITIAL
ALTERATIONS”) attached hereto is inserted in lieu thereof.

 

3.                                       INCORPORATION.

 

Except as modified herein, all other terms and conditions of the Lease
between the parties above described, as attached hereto, shall continue in full
force and effect.

 

Redress for any claims against Landlord under this Lease shall only be
made against Landlord to the extent of Landlord’s interest in the property to
which the leased premises are a part.  
The obligations of Landlord under this lease shall not be personally
binding on, nor shall any resort be had to the private properties of, any of
its trustees or board of directors and officers, as the case may be, the
general partners thereof or any beneficiaries, stockholders, employees or
agents of Landlord, or the investment manager.

 

IN WITNESS WHEREOF, Landlord and Tenant have executed the amendment as
of the day and year first written above.

 

	
  LANDLORD:

  	
  TENANT:

  
	
   

  	
   

  
	
  RREEF USA FUND-I, INC.,

  	
  TOWNSEND ANALYTICS, LTD.

  
	
         a Delaware corporation

  	
   

  
	
   

  	
   

  
	
  By: RREEF Management Company,

     A California corporation

  	
   

  
	
   

  	
   

  
	
  By: 

  	
  /s/Charmaine Ali

  	
   

  	
  By: 

  	
  /s/MarrGwen Townsend

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Title:

  	
  V.P./ Gen. Mgr.

  	
   

  	
  Title:

  	
  Vice President

  	
   

  
										

 

 

EXHIBIT
A-1

 

Attached to and made a part of Lease bearing
the

Lease Reference Date of June 3, 1996
between

RREEF USA FUND-I HARTFORD PLAZA, INC., as
Landlord and

TOWNSEND ANALYTICS, LTD., as Tenant

 

SUITE 2012

 

Exhibit a-1 is intended only to show the general layout of the Suite
2012 as of the beginning of the Term of this Lease.   It does not in any way supersede any of Landlord’s rights set
forth in Section 18.3 of the Lease with respect to arrangements and/or
locations of public parts of the Building and changes in such arrangements
and/or locations.   It is not to be
scaled; any measurements or distances shown should be taken as approximate.

 

[Graphics]

 

 

3241 square feet

(Approximate Configuration)

100 South Wacker Drive

Suite 2012

Chicago, Illinois 60606

 

 

EXHIBIT
B-1

 

Attached to and made a part of Lease bearing
the

Lease Reference Date of June 3, 1996
between

RREEF USA FUND-I HARTFORD PLAZA, INC., as
Landlord and

TOWNSEND ANALYTICS, LTD., as Tenant

Suites 2040 and 2012, 100 South Wacker Drive

Chicago, Illinois 60606

 

INITIAL ALTERATIONS

 

 

The
undersigned, Landlord and Tenant, respectively, are executing simultaneously
with this letter agreement a written Lease covering premises (the “Premises”)
as described in the Lease and hereby attach this Work Letter to said Lease as
Exhibit B-1 thereto.  Any defined term
used in this Exhibit B-1 which is not defined herein shall have the meaning
provided for such term in the Lease.

 

In consideration of the mutual covenants contained herein and in the
Lease, Landlord and Tenant agree as follows:

 

I.                                         Landlord Work
and Plans

 

A.                                   Landlord agrees to
do the Work (“Landlord Work”) as shown on the working drawings and
specifications prepared by ICL Interior Architecture dated June 25, 1997
(the “Working Drawings”), excluding any Tenant furnishings, fixtures, equipment
and communications and data cabling.

 

B.                                     Tenant has
approved the Working Drawings.

 

C.                                     The
Schedule for preparation, bidding and award of the construction contract,
and performance of the construction, shall be as follows:

 

	
  Completion of Working Drawings

  	
   

  	
  Complete

  
	
  Engineering Review

  	
   

  	
  Complete

  
	
  Completion of Contract Documents/ Issued for Permit

  	
   

  	
  Complete

  
	
  Landlord Review

  	
   

  	
  Complete

  
	
  Receipt of Bids

  	
   

  	
  Complete

  
	
  Contract Award

  	
   

  	
  7/16/97

  
	
  Permit Received

  	
   

  	
  7/16/97

  
	
  Completion of Construction

  	
   

  	
  9/1/97

  

 

D.                                     Any modifications,
revisions or changes to the Plans are expressly subject to Landlord’s prior
written approval.

 

 

E.                                      Tenant
acknowledges that the agreed Improvement Allowance and preliminary construction
..budget were based solely upon the Working Drawings.  Accordingly, notwithstanding the final construction cost for the
buildout of the tenant improvements to the Premises, Landlord shall not be
required to pay more than a maximum amount of Forty-Eight Thousand Six Hundred
Fifteen Dollars ($48,615.00) (equal to $15.00 psf) (the “Improvement
Allowance”) for the Landlord Work, including all architectural, design,
engineering and utility services, hoist fees and final cleaning.  Landlord may, at its option, pay said sum
directly to the contractors or may reimburse said sum to Tenant, in either case
upon completion of said installation and Upon Landlord’s receipt of acceptable
sworn statements and final lien waivers from the contractors; provided that
Tenant has paid the entire balance of the construction cost for said
improvements.

 

F.                                     In determining the
cost for all Landlord Work, Landlord will require its general contractor to
obtain three (3) bids from each construction trade and to select the lowest
qualified bidder from each such trade. 
Within three (3) business days after Tenant’s receipt of said bids,
Tenant shall deliver either its written approval of the bids, or its
disapproval thereof together with a demand to rebid the Landlord Work or to
have the architect redesign or respecify the Landlord Work so that it can be
constructed at a lower cost.  In the
event Tenant fails to deliver its written disapproval of the bids within said
three (3) business day period, Tenant shall be conclusively deemed to have
approved them.  If Tenant timely sends
notice of its disapproval of the bids, the time required for such rebidding or
redesigning or respecifying shall be deemed to be a Tenant Delay unless the
reason for Tenant’s disapproval was, in Landlord’s reasonable opinion, the
result of an error by Landlord in preparing bid specifications for the
Premises.  The cost of any such
redesigning or respecifying shall be paid by Tenant or may be charged against
any unused balance of the Improvement Allowance.

 

G.                                    In rebidding the
Landlord Work, Landlord will require its general contractor to obtain at least
three (3) bids from each construction trade and to select the lowest qualified
bidder from each such trade.  Tenant shall
be deemed to have approved such bids.

 

II.                                     Tenant’s
Extra Work

 

If Tenant requests Landlord to do any work in
connection with the Premises other than the Landlord Work, or Tenant requests
any modifications or changes to the Landlord Work after approval of the Working
Drawings or Detailed Plans, and Landlord, in its sole discretion, approves of
such other work in writing (such other work is hereinafter referred to as
“Tenant’s Extra Work”), the following terms, conditions, agreements, and
procedures shall be applicable:

 

 

A.                                   Tenant shall, at its
sole cost and expense, cause the Landlord’s architects, designers, consultants
and contractors (the “Consultants”) to prepare and submit to Landlord, on or
before the date construction commences (the “Plans Due Date”), all necessary
drawings, plans, and specifications covering the proposed Tenant’s Extra Work
(such drawings, plans and specifications are hereinafter referred to as
“Tenant’s Extra Work Plans”).

 

B.                                     Landlord agrees to
cause the Tenant’s Extra Work to be constructed, provided that Tenant’s Extra
Work plans are acceptable to Landlord and approved in writing by Landlord, that
the timing of Tenant’s Extra Work must be coordinated with the scheduling of
the original Landlord’s Work, and that Tenant has complied with all applicable
provisions, terms and conditions of this Work Letter.

 

C.                                     All such Tenant’s
Extra Work shall be done at Tenant’s sole cost and expense.   Prior to commencing any of Tenant’s Extra
Work, Landlord shall submit to Tenant for Tenant’s approval a written estimate
of the cost of Tenant’s Extra Work (hereinafter called (“Estimate”). If Tenant
fails to approve any Estimate in writing within five (5) business days of its submission to Tenant, the
Estimate shall be deemed disapproved and Landlord shall not be obligated to
proceed with Tenant’s Extra Work but Landlord may complete the construction of
the Landlord Work.  Landlord may require
Tenant to deposit the amount of the Estimate with Landlord within five (5)
business days after Landlord’s written request therefor.  Such deposit shall be held as security for
the payment of, and shall be credited, without interest, against the sums
payable by Tenant under this Work Letter.

 

D.                                     If Tenant shall
request any modifications, revisions, or changes to the Tenant’s Extra Work at
any time and from time to time, it shall follow the same procedure herein
prescribed for the initiation, approval and commencement of the Tenant’s Extra
Work in each such case.

 

E.                                       Tenant agrees to
pay to Landlord the following sums for Tenant’s Extra Work:

 

1.                                       All costs and
expenses pertaining to Tenant’s Extra Work, subcontractors and general and
other conditions costs and expenses, and

 

2.                                       An overhead
charge of ten percent (l0%) of the total of all such costs under Paragraph II.E.1
hereof.

 

Tenant shall pay to Landlord within fifteen
(15) business days after being billed therefor, at any time and from time to
time, the 

 

 

amount of such costs, expenses and charges for Tenant’s Extra Work set
forth in such billings, which amounts shall be treated as additional rent under
the Lease.

 

III.                                 Completion of the
Work, Tenant’s Acts or Omissions, and Defaults

 

A.                                    Landlord shall give
Tenant not less than ten (10) business days’ notice in writing of the date upon
which Landlord proposes to tender the Premises as substantially completed and
ready for occupancy.  In the event that
the Premises are not in fact substantially completed and ready for occupancy on
the date specified in such notice, Tenant shall notify Landlord in writing of its
objections within five (5) business days after receipt of Landlord’s
notice.  Landlord shall have a
reasonable time after delivery of such notice in which to take such corrective
action as Landlord deems necessary and shall notify Tenant in writing as soon
as it deems such corrective action, if any, has been completed so that the
Premises are completed and ready for occupancy.  In the event of any dispute as to when and whether the work
performed or required to be performed by Landlord has been substantially
completed, the certificate of occupancy issued by the local governmental
authority shall be conclusive evidence of such completion, effective on the
date of the delivery of a copy of any such certificate to Tenant.

 

B.                                     Notwithstanding
anything in the Lease to the contrary, if Tenant is not in default hereunder or
under the Lease, Tenant’s obligation to pay rent under the Lease shall not
commence until Landlord shall have substantially completed the Landlord Work
and Tenant’s Extra Work; provided, however, that if Landlord shall be delayed
in substantially completing the Premises as a result of any act or omission by
Tenant, its agents, employees, representatives or contractors, or any one or
more of them including, without limitation, the following;

 

1.                                       Tenant’s failure
to furnish to Landlord either the Plans or the Tenant’s Extra Work Plans, or
both of them, by the Plans Due Date; or

 

2.                                       Tenant’s failure
to approve any Estimate within five (5) business days of their submission to
Tenant; or

 

3.                                       Tenant’s failure
to pay amounts or deposit any Estimate required hereunder within the period set
forth herein; or

 

4.                                       Tenant’s request
for any materials, finishes, or installations other than Landlord Work as shown
on the Working Drawings; or

 

5.                                       Tenant’s request
that Landlord delay or not construct the Landlord 

 

 

Work or Tenant’s Extra Work in all or part of the Premises; or

 

6.                                       Tenant’s delay
in supplying any of the Consultants with any requested information; or

 

7.                                       Tenant’s changes
at any time or from time to time in any one or more of the following: Landlord
Work, Tenant’s Extra Work, the Working Drawings or Detailed Plans, or Tenant’s
Extra Work Plans, regardless of Landlord’s approval of any such changes; or

 

8.                                       The performance
or completion by Tenant, or any person. 
or entity employed by Tenant, of any work on or about the Premises
including, without limitation, any disharmony or interference caused by such
performance or completion as further described in Paragraph IV. A.  hereof; or

 

9.                                       Tenant’s direct
purchase of materials; or

 

10.                                 Any other act or
omission by Tenant or any of its agents, employees, representatives or
contractors;

 

then, in any such event, the commencement of
the term of the Lease and the payment of rent thereunder shall not be affected
or deferred on account of such delay notwithstanding that the Landlord Work
and/or the Tenant’s Extra Work may not be substantially completed.   The cost of any changes and/or additions
made to the Landlord Work, Tenant’s extra Work, the Plans, or Tenant’s Extra
Work Plans at the request of Tenant after Landlord and Tenant have agreed on
the Plans or Tenant’s Extra Work Plans, Including but not limited to the actual
cost of such changes or additions, the cost of any revisions to the Plans or
Tenant’s Extra Work Plans, and the cost of any delays in construction resulting
from any Tenant requested changes, all as determined by Landlord in its sole
discretion, whether or not such changes are finally agreed to, together with
ten percent (10%) of such costs for Landlord’s overhead, shall be paid by
Tenant upon Landlord’s presentation of a bill therefor and such amount shall be
treated as additional rent under the Lease.

 

C.                                     If Tenant shall
fail to comply with any term, provision or agreement hereunder or if Landlord
and Tenant fail to reach agreement of the Plans or Tenant’s Extra Work Plans
within fifteen (15) business days after the submission thereof to Landlord, and
if any such matter is not remedied or resolved to Landlord’s satisfaction
fifteen (15) business days following written notice to Tenant, then, in
addition to any other remedies granted Landlord under the Lease in the case of  default
by Tenant and any remedies provided for elsewhere in this Work Letter or
available at law or equity, Landlord may elect, upon notice to Tenant, to: (1)
discontinue all 

 

 

work hereunder, and Tenant’s obligation to pay rent shall commence as
of the Commencement Date set forth in the Lease, without any abatement on
account of any delay in connection with any work relating to the Premises, (2)
complete the construction of the Landlord Work pursuant to the Plans as
approved by Landlord and Tenant or complete any work which Landlord and Tenant
have agreed to in writing, tendering possession to Tenant upon substantial completion
thereof, the date of such tender being deemed to be the Commencement Date under
the Lease, and charge Tenant for the additional costs of completing the
electrical, plumbing, office partitions and other work, the plans and
specifications for which have not been agreed to by Landlord and Tenant, which
amount shall be paid by Tenant to Landlord as additional rent prior to any such
work commencing, or (3) cancel the Lease, effective fifteen (15) business days
after Tenant receives notice thereof, without incurring any liability on
account thereof and the term granted under the Lease is expressly limited
accordingly.  If Landlord cancels the
..Lease pursuant to the terms hereof or as a result of Tenant’s default under the
Lease, such cancellation shall not affect Tenant’s liability for any sums
payable hereunder.

 

IV.                                 Tenant’s
Access to the Premises

 

A.                                   Landlord, in its
sole discretion, may permit Tenant and Tenant’s agents or contractors to enter
the Premises prior to the Commencement Date specified in the Lease in order
that Tenant may do other approved work or alterations as may be required by
Tenant to make the Premises ready for Tenant’s use and occupancy.  If Landlord permits such prior entry, then
such license shall be subject to the condition that Tenant and Tenant’s agents,
contractors, workmen, mechanics, suppliers, and invitees shall work in harmony
and not interfere with Landlord and its agents and contractors in doing their
work in the above building or with other tenants and occupants of the above building.   If at any time such entry shall cause or
threaten to cause such
disharmony or interference, Landlord, in its sole discretion, shall have the
right to withdraw and cancel such license upon twenty-four (24) hours written
notice to Tenant and any further prior entry shall be prohibited.  Tenant agrees that any entry into and any
occupation of the Premises shall be deemed to be under all of the terms,
covenants, conditions and provisions of the Lease, except as to the covenant to
pay rent, and further agrees that to the extent permitted by Law, Landlord and
its principals, employees and agents shall not be liable in any way for any
injury or death to any person or persons, loss or damage to any of Tenant’s
work and installations made in the Premises, or loss or damage to property
placed therein, the same being at Tenant’s sole risk.  Tenant agrees to protect, defend, indemnify, and save harmless
Landlord and its principals, employees and agents from all liabilities, costs,
damages, fees and expenses (including reasonable attorneys’ fees and expenses)
arising out of or connected with 

 

 

the activities of Tenant or its agents, contractors, workmen,
mechanics, suppliers and invitees in or about the Premises or the above
building.

 

B.                                     In addition to any,
other conditions or limitations on such license to enter the Premises prior to
the said occupancy date, Tenant expressly agrees that none of its agents,
contractors, workmen, mechanics, suppliers, or invitees shall enter the
Premises prior to such occupancy date unless and until each of them shall
furnish such assurances to Landlord, including but not limited to, insurance
coverages, waivers of lien, surety company performance bonds and personal
guaranties of individuals of substance, as Landlord shall require to protect
Landlord against any loss, casualty, liability, liens or claims.

 

V.                                     Miscellaneous

 

A.                                   Tenant expressly
assumes the responsibility and obligation of supplying the Consultants with all
information concerning Tenant’s requirements with respect to the Landlord Work
and Tenant’s Extra Work as and when requested by any of the Consultants.

 

B.                                     The Landlord Work
and Tenant’s Extra Work, if any, shall be done by the contractors and
subcontractors designated by Landlord, in accordance with the terms, conditions
and provisions herein contained.

 

D.                                    Except as set forth
in Paragraph I. A. hereof, Landlord has no other agreement with Tenant and has
no obligation to do any work with respect to the Premises.  Any other work in the Premises which may be
permitted by Landlord pursuant to the terms and conditions of the Lease shall
be done at Tenant’s sole cost and expense and in accordance with the terms and
provisions herein set forth pertaining to Tenant’s Extra Work and such
additional requirements as Landlord deems necessary or desirable.

 

D.                                    All rights and
remedies of Landlord herein created or otherwise existing at law or equity are
cumulative, and the exercise of one or more such rights or remedies shall not
be deemed to exclude or waive the
right to the exercise of any other rights or remedies.  All such rights and remedies may be
exercised and enforced concurrently and whenever and as often as deemed
desirable.

 

E.                                      Time is of the
essence under this agreement.

 

F.                                      Any person
signing this agreement on behalf of the Tenant represents and warrants that he
has the express authority of the Tenant to do so.  Any person signing this agreement on behalf of Landlord
represents and warrants that he has the express authority of Landlord to do so.

 

 

G.                                     The terms and
provisions of the Lease are hereby incorporated herein by reference and made a
part hereof, but none of the terms or provisions contained herein shall be
interpreted to modify or amend the Lease, except as provided in Paragraph III
hereof.  This Work Letter shall not be
deemed applicable to any additional office space added to the original Premises
at any time or from time to time, whether by any options under the Lease or
otherwise, or to any portion of the original Premises or any additions thereto in
the event of a renewal or extension of the original term of the Lease, whether
by any options under the Lease or otherwise.

 

H.                                    This agreement
shall be binding upon and inure to the benefit of the parties hereto and their
respective heirs, executors, legal representatives, successors and assigns.

 

I.                                         This agreement
shall in all respects be governed by the laws of Illinois.

 

If the foregoing correctly sets forth our understanding, please sign
two copies of this letter agreement where indicated and return the same to us.

 

	
  LANDLORD:

  	
  TENANT:

  
	
   

  	
   

  
	
  RREEF USA FUND-I HARTFORD

  	
  TOWNSEND ANALYTICS, LTD.

  
	
  PLAZA, INC., a Delaware Corporation

  	
   

  
	
   

  	
   

  
	
  By:

  	
  RREEF Management Company,

  a California corporation

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By: 

  	
     /s/Charmaine Ali

  	
   

  	
  By:

  	
     /s/MarrGwen Townsend

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Title:

  	
  VP/Gen. Mgr.

  	
   

  	
  Title:

  	
  Vice President

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Date:

  	
  7/17, 1997

  	
   

  	
  Dated:

  	
  7/17, 1997

  	
   

  
											

 

 

THIRD AMENDMENT TO LEASE

 

 

THIS AMENDMENT, dated as of the 31st day of July, 1998,
between RREEF USA FUND-I HARTFORD PLAZA, INC., a Delaware corporation,
(“Landlord”) and TOWNSEND ANALYTICS, LTD. 
(“Tenant”) for the premises located in the City of Chicago, County of
Cook, State of Illinois, commonly known as Suite 2040, 100 South Wacker Drive.

 

1.                                       RECITALS.

 

Landlord and Tenant, being parties to that certain Office Lease with a
Lease Reference Date of June 3, 1996, as amended by the First Amendment to
Lease dated December 20, 1996 and the Second Amendment to Lease dated
July 17, 1997 (collectively, the “Lease”), hereby express their mutual
desire and intent to increase the rentable square footage of the Premises and
the Rent due under the Lease, and amend by this writing those terms, covenants
and conditions contained in the Reference Page,  Article 3 (“RENT”),
Article 4 (“RENT ADJUSTMENTS”) and Exhibit B (“INITIAL ALTERATIONS”), and
add Exhibit A-2 (“PREMISES”) and Exhibit B-2 (“INITIAL ALTERATIONS”), all as
hereinafter provided.

 

2.                                       AMENDMENTS.

 

A.                                   Effective on the
earlier of September 1, 1998 (the “Effective Date”), the “Reference Page”
is hereby amended to read as follows:

 

	
  PREMISES IDENTIFICATION:

  	
   

  	
  Suite Numbers 2040, 2012 and 2020 (for outline of Premises see
  Exhibit A for Suite 2040, Exhibit A-1 for Suite 2012, and Exhibit A-2 for
  Suite 2020 attached to this Lease and made a part of this Lease by this
  reference)

  
	
  PREMISES RENTABLE AREA:

  	
   

  	
   

  
	
  Suite 2040

  	
   

  	
  Approximately 9,939 sq.  ft.

  
	
  Suite 2012

  	
   

  	
  Approximately 3,241 sq.  ft.

  
	
  Suite 2020

  	
   

  	
  Approximately 2,852 sq.  ft.

  
	
   

  	
   

  	
   

  
	
  INITIAL ANNUAL RENT

  	
   

  	
   

  
	
  (Article 3):

  	
   

  	
   

  
	
  Suite 2040

  	
   

  	
  [***]

  
	
  Suite 2012

  	
   

  	
  $23,497.20

  
	
  Suite 2020

  	
   

  	
  [***]

  

 

*** Certain information on this page has been omitted and filed
separately with the Securities and Exchange Commission. Confidential treatment
has been requested with respect to the omitted portions.

 

 

	
  INITIAL MONTHLY

  	
   

  	
   

  
	
  INSTALLMENT OF BASE

  	
   

  	
   

  
	
  RENT (Article 3):

  	
   

  	
   

  
	
  Suite 2040

  	
   

  	
  [***]

  
	
  Suite 2012

  	
   

  	
  $1,958.10

  
	
  Suite 2020

  	
   

  	
  [***]

  
	
   

  	
   

  	
   

  
	
  INITIAL ESTIMATED

  	
   

  	
   

  
	
  MONTHLY INSTALLMENTS

  	
   

  	
   

  
	
  OF RENT ADJUSTMENTS

  	
   

  	
   

  
	
  FOR DIRECT EXPENSES:

  	
   

  	
   

  
	
  (Article 4)

  	
   

  	
   

  
	
  Suite 2040

  	
   

  	
  [***]

  
	
  Suite 2012

  	
   

  	
  $1,644.71

  
	
  Suite 2020

  	
   

  	
  [***]

  
	
   

  	
   

  	
   

  
	
  INITIAL ESTIMATED

  	
   

  	
   

  
	
  MONTHLY INS TALLMENTS

  	
   

  	
   

  
	
  OF RENT ADJUSTMENTS

  	
   

  	
   

  
	
  FOR TAXES:

  	
   

  	
   

  
	
  (Article 4)

  	
   

  	
   

  
	
  Suite 2040

  	
   

  	
  [***]

  
	
  Suite 2012

  	
   

  	
  $1,504.24

  
	
  Suite 2020

  	
   

  	
  [***]

  
	
   

  	
   

  	
   

  
	
  TOTAL INITIAL

  	
   

  	
   

  
	
  INSTALLMENTS OF RENT:

  	
   

  	
   

  
	
  (Articles 3 and 4)

  	
   

  	
   

  
	
  Suite 2040

  	
   

  	
  [***]

  
	
  Suite 2012

  	
   

  	
  $5,107.05

  
	
  Suite 2020

  	
   

  	
  [***]

  
	
   

  	
   

  	
   

  
	
  TENANT’S PROPORTIONATE

  	
   

  	
   

  
	
  SHARE:

  	
   

  	
   

  
	
  Suite 2040

  	
   

  	
  1.8674% (9,939/532,233)

  
	
  Suite 2012

  	
   

  	
  0.6089% (3,241/532,233)

  
	
  Suite 2020

  	
   

  	
  0.5359% (2,852/532,233)

  
	
   

  	
   

  	
   

  
	
  SECURITY DEPOSIT

  	
   

  	
  None

  

 

B.                                     “3.   RENT” is hereby amended as follows:

 

Effective on the Effective Date, the Annual Rent and Monthly
Installments of Base Rent payable for the balance of the Term shall be as
follows:

 

*** Certain information on this page has been omitted and filed
separately with the Securities and Exchange Commission. Confidential treatment
has been requested with respect to the omitted portions.

 

 

Suite 2040

 

	
  Period

  	
   

  	
  Annual
  Rent

  	
   

  	
  Monthly
  Installment

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  [***]

  	
   

  	
  [***]

  	
   

  	
  [***]

  

 

Suite 2012

 

	
  Period

  	
   

  	
  Annual
  Rent

  	
   

  	
  Monthly
  Installment

  	
   

  
	
  9/1/98 - 8/31/99

  	
   

  	
  $

  	
  36,120.00

  	
   

  	
  $

  	
  4,515.00

  	
   

  
	
  9/1/99 - 8/31/00

  	
   

  	
  $

  	
  55,685.00

  	
   

  	
  $

  	
  4,640.42

  	
   

  
	
  9/1/00 - 8/31/01

  	
   

  	
  $

  	
  57,189.96

  	
   

  	
  $

  	
  4,765.83

  	
   

  
	
  9/1/01 - 8/31/02

  	
   

  	
  $

  	
  58,695.00

  	
   

  	
  $

  	
  4,891.25

  	
   

  
	
  9/1/02 - 8/31/03

  	
   

  	
  $

  	
  60,200.04

  	
   

  	
  $

  	
  5,016.67

  	
   

  

 

Suite 2020

 

	
  Period

  	
   

  	
  Annual
  Rent

  	
   

  	
  Monthly
  Installment

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  [***]

  	
   

  	
  [***]

  	
   

  	
  [***]

  

 

 

C.                                     Article 47
(“TENANT ALLOWANCE) is modifed by the addition of the following provision at
the end of Article 47: “Landlord shall pay up to Thirty-Seven Thousand Six
Hundred Twenty-Five and No/100 Dollars ($37,625.00) ($12.50/rsf) as a Tenant
Allowance for construction of improvements approved by Landlord to be installed
by Tenant in the portion of the Premises designated as Suite 2015.  Landlord may, at its option, pay said sum
directly to the contractors or may reimburse said sum to Tenant, in either case
upon completion of said installation and upon Landlord’s receipt of acceptable
sworn statements and final lien waivers from the contractors; provided that
Tenant has paid the entire balance of the construction cost for said
improvements in excess of  $37,625.00.

 

D.                                    Exhibit
A-3 (“SUITE 2015”) attached hereto is hereby added to the Lease.

 

E.                                      Exhibit
B-3 (“INITIAL ALTERATIONS FOR SUITE 2015”) attached hereto is hereby added to
the Lease.

 

3.                                       INCORPORATION.

 

Except as modified herein, all other terms
and conditions of the Lease between the parties above described, as attached
hereto, shall continue in

 

*** Certain information on this page has been omitted and filed
separately with the Securities and Exchange Commission. Confidential treatment
has been requested with respect to the omitted portions.

 

 

full force and effect.

 

Redress for any claims against Landlord under
this Lease shall only be made against Landlord to the extent of Landlord’s
interest in the property to which the leased premises are a part.   The obligations of Landlord under this
lease shall not be personally binding on, nor shall any resort be had to the
private properties of, any of its trustees or board of directors and officers,
as the case may be, the general partners thereof or any beneficiaries,
stockholders, employees or agents of Landlord, or the investment manager.

 

IN WITNES WHEREOF, Landlord and Tenant have
executed the Amendment as of the day and year first written above.

 

 

	
  LANDLORD:

  	
  TENANT:

  
	
   

  	
   

  
	
  RREEF USA FUND-I, INC.,

  	
  TOWNSEND ANALYTICS, LTD.

  
	
  A Delaware corporation

  	
   

  
	
   

  	
   

  
	
  By:  RREEF Management Company,

  	
   

  
	
  A Delaware corporation

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By: 

  	
  /s/ Signature Illegible

  	
   

  	
  By:

  	
  /s/MarrGwen Townsend

  	
   

  
	
  Title:

  	
  General Manager

  	
   

  	
  Title:

  	
  Vice President

  	
   

  
								

 

 

EXHIBIT A-2

 

attached to and made a part of Lease bearing
the

Lease Reference Date of June 3, 1996
between

RREEF USA FUND-I HARTFORD PLAZA, INC., as  Landlord
and

TOWNSEND ANALYTICS, LTD., as Tenant

 

SUITE 2020

 

Exhibit A-2 is intended only to show the
general layout of the Suite 2020 as of the beginning of the Term of this
Lease.  It does not in any way supersede
any of Landlord’s rights set forth in Section 18.3 of the Lease with
respect to arrangements and/or locations of public parts of the Building and changes
in such arrangements and/or locations. 
It is not to be scaled; any measurements or distances shown should be
taken as approximate.

 

[Graphics]

2,582 square feet

(Approximate Configuration)

100 South Wacker Drive

Suite 2020

Chicago, Illinois 60606

 

 

EXHIBIT B-2

 

attached to and made a part of Lease bearing the

Lease Reference Date of
June 3, 1996 between

RREEF USA
YUND-I HARTFORD PLAZA, INC., as
Landlord and

TOWNSEND ANALYTICS, LTD., as
Tenant

Suites 2040, 2012, and
2020, 100 South Wacker Drive

Chicago, Illinois 60606

 

INITIAL ALTERATIONS

 

The undersigned, Landlord and Tenant,
respectively, are executing simultaneously with this letter agreement a written
Lease covering premises (the “Premises”) as described in the Lease and hereby
attach this Work Letter to said Lease as Exhibit 3-2  thereto.  Any defined term used in this Exhibit B-2
which is not defined herein shall have the meaning provided for such term in
the Lease.

 

In consideration of the mutual covenants
contained herein and in the Lease, Landlord and Tenant agree as follows:

 

I.                                         Landlord Work
and Plans

 

A.                                   Landlord agrees to
do the Work (“Landlord Work”) as shown on the working drawings and
specifications prepared by ASD dated July 6 , 1998 (the
“Working Drawings”), excluding any Tenant furnishings,
fixtures, equipment and communications and data cabling.

 

B.                                     Within three (3)
business days after Tenant’s receipt of the Space Plans or Detailed Plans, or
any revisions thereof, Tenant shall deliver either its written approval thereof
or its disapproval thereof must set forth reasonable grounds for said
disapproval and the corrections required to obtain Tenant’s approval (“Tenant’s
Approval”) .  In the event Tenant fails
to deliver its written disapproval of said Space Plans or Detailed Plans within
said three (3) business day period, Tenant shall be conclusively deemed to have
approved them.

 

C.                                     The Schedule for preparation,  bidding and award of the
construction contract, and performance of the construction, shall be as
follows:

 

1.               Architectural Drawings - within 10
business days after receipt of Tenant’s Approval

2.               Engineering
Drawings - within 10 business days after receipt of Architectural Drawings

3.               Landlord Review -
within 3 business days after receipt of completed Architectural and Engineering
Drawings

 

 

4.               Receipt of Bids -
within 10 business days after Landlord Review and approval

5.               Contact Award -
within 3 business days after Tenant’s Receipt of Bids

6.               Substantial
Completion of Construction - within 30 business days after Contract Award and
receipt of City of Chicago Building Permit

 

D.                                    Any
modifications, revisions or changes to the Plans are expressly subject to
Landlord’s prior written approval.

 

E.                                                                                      Tenant
acknowledges that the agreed Improvement Allowance and preliminary construction
budget were based solely I upon the Working Drawings.  Accordingly, notwithstanding the final construction cost for the
buildout of the tenant improvements to the Premises, Landlord shall not be
required to pay more than a maximum amount of Seventy-One Thousand Three
Hundred Dollars ($71,300.00) (equal to $25.00 rsf) (the “Improvement
Allowance”) for the Landlord Work, including all architectural, design,
engineering and utility services, hoist fees and final cleaning.  Landlord may, at its option, pay said sum
directly to the contractors or may reimburse said sum to Tenant, in either case
upon completion of said installation and upon Landlord’s receipt of acceptable
sworn statements and final lien waivers from the contractors; provided that
Tenant has paid the entire balance of the construction cost for said
improvements.

 

F.                                      In determining
the cost for all Landlord Work, Landlord will require its general contractor to
obtain three (3) bids from each construction trade and to select the lowest
qualified bidder from each such trade. 
Within three (3) business days after Tenant’s receipt of said bids,
Tenant shall deliver either its written approval of the bids, or its
disapproval thereof together with a demand to rebid the Landlord Work or to
have the architect redesign or respecify the Landlord Work so that it can be
constructed at a lower cost.  In the
event Tenant fails to deliver its written disapproval of the bids within said
three (3) business day period, Tenant shall be conclusively deemed to have approved
them.  If Tenant timely sends notice of
its disapproval of the bids, the time required for such rebidding or
redesigning or respecifying shall be deemed to be a Tenant Delay unless the
reason for Tenant’s disapproval was, in Landlord’s reasonable opinion, the
result of an error by Landlord in preparing bid specifications for the
Premises.  The cost of any such
redesigning or respecifying shall be paid by Tenant or may be charged against
any unused balance of the Improvement Allowance.

 

G.                                     In rebidding the
Landlord Work, Landlord will require its general contractor to obtain at least
three (3) bids from each construction trade and to select the lowest qualified
bidder from each such trade.  Tenant
shall be deemed to have approved such bids.

 

 

II.                                     Tenant’s Extra
Work

 

If Tenant requests Landlord to do any work in
connection with the Premises other than the Landlord Work, or Tenant requests
any modifications or changes to the Landlord Work after approval of the Working
Drawings or Detailed Plans, and Landlord, in its sole discretion, approves of
such other work in writing (such other work is hereinafter referred to as
‘Tenant’s Extra Work”), the following terms, conditions, agreements, and
procedures shall be applicable:

 

A.                                   Tenant
shall, at its sole cost and expense, cause the Landlord’s architects,
designers, consultants and contractors (the “Consultants”) to prepare and
submit to Landlord, on or before the date construction commences (the “Plans
Due Date”), all necessary drawings, plans, and specifications covering the
proposed Tenant’s Extra Work (such drawings, plans and specifications are
hereinafter referred to as “Tenant’s Extra Work Plans”).

 

B.                                     Landlord
agrees to cause the Tenant’s Extra Work to be constructed, provided that
Tenant’s Extra Work Plans are acceptable to Landlord and approved in writing by
Landlord, that the timing of Tenant’s Extra Work must be coordinated with the
scheduling of the original Landlord’s Work, and that Tenant has complied with
all applicable provisions, terms and conditions of this Work Letter.

 

C.                                     All
such Tenant’s Extra Work shall be done at Tenant’s sole cost and expense.  Prior to commencing any of Tenant’s Extra
Work, Landlord shall submit to Tenant for Tenant’s approval a written estimate
of the cost of Tenant’s Extra Work (hereinafter called (“Estimate”).  If Tenant fails to approve any Estimate in
writing within five (5) business days of its submission to Tenant, the Estimate
shall be deemed disapproved and Landlord shall not be obligated to proceed with
Tenant’s Extra Work but Landlord may complete the construction of the Landlord
Work.  Landlord may require Tenant to
deposit the amount of the Estimate with Landlord within five (5) business days
after Landlord’s written request therefor. 
Such deposit shall be held as security for the payment of, and shall be
credited, without interest, against the sums payable by Tenant under this Work
Letter.

 

D.                                    If
Tenant shall request any modifications, revisions, or changes to the Tenant’s
Extra Work at any time and from time to time, it shall follow the same
procedure herein prescribed for the initiation, approval and commencement of
the Tenant’s Extra Work in each such case.

 

E.                                      Tenant agrees to
pay to Landlord the following sums for Tenant’s Extra Work:

 

 

1.               All costs and expenses pertaining to
Tenant’s Extra Work, subcontractors and general and other conditions costs and
expenses, and

 

2.                 An overhead charge of ten percent
(10%) of the total of all such costs under Paragraph II. E. 1. hereof.

 

Tenant shall pay to Landlord within fifteen (15) business days after
being billed therefor, at any time and from time to time, the amount of such
costs, expenses and charges for Tenant’s Extra Work set forth in such billings,
which amounts shall be treated as additional rent under the Lease.

 

III.                                 Completion of the
Work, Tenants Acts or Omissions, and Defaults

 

A.                                   Landlord shall give
Tenant not less than ten (10) business days’ notice in writing of the date upon
which Landlord proposes to tender the Premises as substantially completed and
ready for occupancy.  In the event that
the Premises are not in fact substantially completed and ready for occupancy on
the date specified in such notice, Tenant shall notify Landlord in writing of
its objections within five (5) business days after receipt of Landlord’s
notice.  Landlord shall have a
reasonable time after delivery of such notice in which to take such corrective
action as Landlord deems necessary and shall notify Tenant in writing as soon
as it deems such corrective action, if any, has been completed so that the
Premises are completed and ready for occupancy.  In the event of any dispute as to when and whether the work
performed or required to be performed by Landlord has been substantially completed,
the certificate of occupancy issued by the local governmental authority shall
be conclusive evidence of such completion, effective on the date of the
delivery of a copy of any such certificate to Tenant.

 

B.                                     Notwithstanding
anything in the Lease to the contrary, if Tenant is not in default hereunder or
under the Lease, Tenant’s obligation to pay rent under the Lease shall not
commence until Landlord shall have substantially completed the Landlord Work
and Tenant’s Extra Work; provided, however, that if Landlord shall be delayed
in substantially completing the Premises as a result of any act or omission by
Tenant, its agents, employees, representatives or contractors, or any one or
more of them including, without limitation, the following;

 

1.               Tenant’s failure to furnish to Landlord
either the Plans or the Tenant’s Extra Work Plans, or both of them, by the
Plans Due Date; or

 

2.               Tenant’s failure to approve any Estimate
within five (5) business days of their submission to Tenant; or

 

 

3.               Tenant’s failure to pay amounts or
deposit any Estimate required hereunder within the period set forth herein; or

 

4.               Tenant’s request for any materials,
finishes, or installations other than Landlord Work as shown on the Working
Drawings; or

 

5.               Tenant’s request that Landlord delay or
not construct the Landlord Work or Tenant’s Extra Work in all or part of the
Premises; or

 

6.               Tenant’s delay in supplying any of the
Consultants with any requested information; or

 

7.               Tenant’s changes at any time or from
time to time in any one or more of the following: Landlord Work, Tenant’s Extra
Work, the Working Drawings or Detailed Plans, or Tenant’s Extra Work Plans,
regardless of Landlord’s approval of any such changes; or

 

8.               The performance or completion by Tenant,
or any person or entity employed by Tenant, of any work on or about the
Premises including, without limitation, any disharmony or interference caused
by such performance or completion as further described in Paragraph IV. A.
hereof; or

 

9.               Tenant’s direct purchase of materials;
or

 

10.         Any other act or omission by Tenant or any of
its agents, employees, representatives or contractors;

 

then, in any such event, the commencement of
the term of the Lease and the payment of rent thereunder shall not be affected
or deferred on account of such delay notwithstanding that the Landlord Work
and/or the Tenant’s Extra Work may not be substantially completed.   The cost of any changes and/or additions
made to the Landlord Work, Tenant’s Extra Work, the Plans, or Tenant’s Extra
Work Plans at the request of tenant after Landlord and tenant have agreed on
the Plans or Tenant’s Extra Work Plans, including but not limited to the actual
cost of such changes or additions, the cost of any revisions to the Plans or
Tenant’s Extra Work Plans, and the cost of any delays in construction resulting
from any Tenant requested changes, all as determined by Landlord in its sole
discretion, whether or not such changes are finally agreed to, together with
ten percent (10%) of such costs for Landlord’s overhead, shall be paid by
Tenant upon Landlord’s presentation of a bill therefor and such amount shall be
treated as additional rent under the Lease.

 

C.                                     If Tenant shall
fail to comply with any term, provision or agreement hereunder or if Landlord
and Tenant fail to reach agreement of the Plans 

 

 

or Tenant’s Extra Work Plans within fifteen (15) business days after
the submission thereof to Landlord, and if any such matter is not remedied or
resolved to Landlord’s satisfaction fifteen (15) business days following
written notice to Tenant, then, in addition to any other remedies granted
Landlord under the Lease in the case of default by Tenant and any remedies
provided for elsewhere in this Work Letter or available at law or equity,
Landlord may elect, upon notice to Tenant, to: (1) discontinue all work
hereunder, and Tenant’s obligation to pay rent shall commence as of the
Commencement Date set forth in the Lease, without any abatement on account of
any delay in connection with any work relating to the Premises, (2) complete
the construction of the Landlord Work pursuant to the Plans as approved by
Landlord and Tenant or complete any work which Landlord and Tenant have agreed
to in writing, tendering possession to Tenant upon substantial completion
thereof, the date of such tender being deemed to be the Commencement Date under
the Lease, and charge Tenant for the additional costs of completing the
electrical, plumbing, office partitions and other work, the plans and
specifications for which have not been agreed to by Landlord and Tenant, which
amount shall be paid by Tenant to Landlord as additional rent prior to any such
work commencing, or (3) cancel the Lease, effective fifteen (15) business days
after Tenant receives notice thereof, without incurring any liability on
account thereof and the term granted under the Lease is expressly limited
accordingly.  If Landlord cancels the
Lease pursuant to the terms hereof or as a result of Tenant’s default under the
Lease, such cancellation shall not affect Tenants liability for any sums
payable hereunder.

 

IV.                                 Tenant’s Access to the
Premises

 

A.                                   Landlord,
in its sole discretion, may permit Tenant and Tenant’s agents or contractors to
enter the Premises prior to the Commencement Date specified in the Lease in
order that Tenant may do other approved work or alterations as may be required
by Tenant to make the Premises ready for Tenant’s use and occupancy.  If Landlord permits such prior entry, then
such license shall be subject to the condition that Tenant and Tenant’s agents,
contractors, workmen, mechanics, suppliers, and invitees shall work in harmony
and not interfere with Landlord and its agents and contractors in doing their
work in the above building or with other tenants and occupants of the above
building.  If at any time such entry
shall cause or threaten to cause such disharmony or interference, Landlord, in
its sole discretion, shall have the right to withdraw and cancel such license
upon twenty-four (24)  hours written notice to Tenant and
any further prior entry shall be prohibited. 
Tenant agrees that any entry into and any occupation of the Premises
shall be deemed to be under all of the terms, covenants, conditions and
provisions of the Lease, except as to the covenant to pay rent, and further
agrees that to the extent permitted by Law, Landlord and its principals,
employees and agents shall not be liable in any way for any

 

 

injury or death to any person or persons,
loss or damage to any of Tenant’s work and installations made in the Premises,
or loss or damage to property placed therein, the same being at Tenant’s sole
risk.  Tenant agrees to protect, defend,
indemnify, and save harmless Landlord and its principals, employees and agents
from all liabilities, costs, damages, fees and expenses (including reasonable
attorneys’ fees and expenses) arising out of or connected with the activities
of Tenant or its agents, contractors, workmen, mechanics, suppliers and
invitees in or about the Premises or the above building.

 

B.                                     In addition to any
other conditions or limitations on such license to enter the Premises prior to
the said occupancy date, Tenant expressly agrees that none of.  its agents, contractors, workmen, mechanics,
suppliers, or invitees shall enter the Premises prior to such occupancy date
unless and until each of them shall furnish such assurances to Landlord,
including but not limited to, insurance coverages, waivers of lien, surety
company performance bonds and personal guaranties of individuals of substance,
as Landlord shall require to protect Landlord against any loss, casualty, liability,
liens or claims.

 

V.                                     Miscellaneous

 

A.                                   Tenant expressly
assumes the responsibility and obligation of supplying the Consultants with all
information concerning Tenant’s requirements with respect to the Landlord Work
and Tenant’s Extra Work as and when requested by any of the Consultants.

 

B.                                     The Landlord Work
and Tenants Extra Work, if any, shall be done by the contractors and
subcontractors designated by Landlord, in accordance with the terms, conditions
and provisions herein contained.

 

C.                                     Except as set
forth in Paragraph I. A. hereof, Landlord has no other agreement with Tenant
and has no obligation to do any work with respect to the Premises.  Any other work in the Premises which may be
permitted by Landlord pursuant to the terms and conditions of the Lease shall
be done at Tenant’s sole cost and expense and in accordance with the terms and
provisions herein set forth pertaining to Tenant’s Extra Work and such
additional requirements as Landlord deems necessary or desirable.

 

D.                                    All rights and
remedies of Landlord herein created or otherwise existing at law or equity are
cumulative, and the exercise of one or more such rights or remedies shall not
be deemed to exclude or waive the right to the exercise of any other rights or
remedies.  All such rights and remedies
may be exercised and enforced concurrently and whenever and as often as deemed
desirable.

 

E.                                      Time is of the
essence under this agreement.

 

 

F.                                      Any person
signing this agreement on behalf of the Tenant represents and warrants that he
has the express authority of the Tenant to do so.  Any person signing this agreement on behalf of Landlord
represents and warrants that he has the express authority of Landlord to do so.

 

G.                                     The terms and
provisions of the Lease are hereby incorporated herein by reference and made a
part hereof, but none of the terms or provisions contained herein shall be
interpreted to modify or amend the Lease, except as provided in Paragraph III
hereof.  This Work Letter shall not be deemed
applicable to any additional office space added to the original Premises at any
time or from time to time, whether by any options under the Lease or otherwise,
or to any portion of the original Premises or any additions thereto in the
event of a renewal or extension of the original term of the Lease, whether by
any options under the Lease or otherwise.

 

H.                                    This agreement
shall be binding upon and inure to the benefit of the parties hereto and their
respective heirs, executors, legal representative, successors and assigns.

 

I.                                         This agreement
shall in all respects be governed by the laws of Illinois.

 

If the foregoing correctly sets forth our understanding, please sign
two copies of this letter agreement where indicated and return the same to us.

 

	
  LANDLORD:

  	
   

  	
  TENANT:

  
	
   

  	
   

  	
   

  
	
  RREEF USA FUND-I HARTFORD

  	
   

  	
  TOWNSEND ANALYTICS, LTD.

  
	
  PLAZA, INC., a Delaware

  	
   

  	
   

  
	
  Corporation

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  RREEF Management Company,

  A Delaware corporation

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Signature Illegible

  	
   

  	
   

  	
  By:

  	
      /s/MarrGwen Townsend

  	
   

  
	
  Title:

  	
  General Manager

  	
   

  	
   

  	
  Title:

  	
       Vice President

  	
   

  
	
  Dated:

  	
  August 18, 1998

  	
   

  	
   

  	
  Dated:

  	
       August 12, 1998

  	
   

  

 

 

FOURTH
AMENDMENT TO LEASE

 

THIS FOURTH AMENDMENT, dated as of the 12th day of November,
1998, between RREEF USA FUND-I HARTFORD PLAZA, INC., a Delaware corporation,
(“Landlord”) and TOWNSEND ANALYTICS, LTD., an Illinois corporation, (“Tenant”)
for the premises located in the City of Chicago, County of Cook, State of
Illinois, commonly known as Suite 2040, 100 South Wacker Drive.

 

1.                                       RECITALS.

 

Landlord and Tenant, being parties to that
certain Office Lease with a Lease Reference Date of June 3, 1996, as
amended by the First Amendment to Lease dated December 20, 1996, the
Second Amendment to Lease dated July 17, 1997, and the Third Amendment to
Lease dated July 31, 1998 (collectively, the “Lease”), hereby express
their mutual desire and intent to increase the rentable square footage of the
Premises and the Rent due under the Lease, and amend by this writing those
terms, covenants and conditions contained in the Reference Page, Article 3
(“RENT”) and Article 47 (“TENANT ALLOWANCE”), and add Exhibit A-3 (“SUITE
2015”) and Exhibit B-3 (“INITIAL ALTERATIONS FOR SUITE 2015”), all as
hereinafter provided.

 

2.           AMENDMENTS.

 

A.                                   Effective
as of January 1, 1999 (the “Effective Date”), the “Reference Page” is hereby
amended to read as follows:

 

	
  PREMISES IDENTIFICATION:

  	
   

  	
  Suite Numbers 2040, 2012, 2020 and 2015 (for outline of Premises see
  Exhibit A for Suite 2040, Exhibit A-1 for Suite 2012, Exhibit A-2 for Suite
  2020, and Exhibit A-3 for Suite 2015 attached to this Lease and made a part
  of this Lease by this reference)

  
	
   

  	
   

  	
   

  
	
  PREMISES RENTABLE AREA:

  	
   

  	
   

  
	
  Suite 2040

  	
   

  	
  Approximately 9,939 sq.  ft.

  
	
  Suite 2012

  	
   

  	
  Approximately 3,241 sq.  ft.

  
	
  Suite 2020

  	
   

  	
  Approximately 2,852 sq.  ft

  
	
  Suite 2015

  	
   

  	
  Approximately 3,010 sq.  ft

  

 

INITIAL ANNUAL RENT

(Article 3):

	
  Suite 2040

  	
   

  	
  [***]

  

 

*** Certain information on this page has been omitted and filed
separately with the Securities and Exchange Commission. Confidential treatment
has been requested with respect to the omitted portions.

 

 

	
  Suite 2012

  	
   

  	
  $23,497.20

  
	
  Suite 2020

  	
   

  	
  [***]

  
	
  Suite 2015

  	
   

  	
  $54,180.00

  

 

INITIAL MONTHLY

INSTALLMENT OF BASE

RENT (Article 3):

	
  Suite 2040

  	
   

  	
  [***]

  
	
  Suite 2012

  	
   

  	
  $1,958.10

  
	
  Suite 2020

  	
   

  	
  [***]

  
	
  Suite 2015

  	
   

  	
  $4,515.00

  

 

INITIAL ESTIMATED

MONTHLY INSTALLMENTS

OF RENT ADJUSTMENTS

FOR DIRECT EXPENSES:

(Article 4)

	
  Suite 2040

  	
   

  	
  [***]

  
	
  Suite 2012

  	
   

  	
  $1,688.02

  
	
  Suite 2020

  	
   

  	
  [***]

  
	
  Suite 2015

  	
   

  	
  $1,567.71

  

 

INITIAL ESTIMATED

MONTHLY INSTALLMENTS

OF RENT ADJUSTMENTS

FOR TAXES:

(Article 4)

	
  Suite 2040

  	
   

  	
  [***]

  
	
  Suite 2012

  	
   

  	
  $1,607.00

  
	
  Suite 2020

  	
   

  	
  [***]

  
	
  Suite 2015

  	
   

  	
  $1,492.46

  

 

TOTAL INITIAL

INSTALLMENTS OF

RENT:

(Articles 3 and 4)

	
  Suite 2040

  	
   

  	
  [***]

  
	
  Suite 2012

  	
   

  	
  $5,253.12

  
	
  Suite 2020

  	
   

  	
  [***]

  
	
  Suite 2015

  	
   

  	
  $7,575.17

  

 

TENANT’S PROPORTIONATE

SHARE:

 

	
  Suite 2040

  	
   

  	
  1.8674% (9,939/532,233)

  
	
  Suite 2012

  	
   

  	
  0.6089% (3,241/532,233)

  
	
  Suite 2020

  	
   

  	
  0.5359% (2,852/532,233)

  

 

*** Certain information on this page has been omitted and filed
separately with the Securities and Exchange Commission. Confidential treatment
has been requested with respect to the omitted portions.

 

 

	
  Suite 2015

  	
   

  	
  0.5655% (3,010/532,233)

  

 

	
  SECURITY DEPOSIT

  	
   

  	
  None

  

 

B.             “3.   RENT” is hereby amended as follows:

 

Effective on the Effective Date, the Annual Rent and Monthly
Installments of Base Rent payable for the balance of the Term shall be as
follows:

 

Suite 2040

 

	
  Period

  	
   

  	
  Annual
  Rent

  	
   

  	
  Monthly
  Installment

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  [***]

  	
   

  	
  [***]

  	
   

  	
  [***]

  	
   

  

 

Suite 2012

 

	
  Period

  	
   

  	
  Annual
  Rent

  	
   

  	
  Monthly
  Installment

  	
   

  
	
  9/1/98 - 8/31/99

  	
   

  	
  $

  	
  23,497.20

  	
   

  	
  $

  	
  1,958.10

  	
   

  
	
  9/1/99 - 8/31/00

  	
   

  	
  $

  	
  25,117.80

  	
   

  	
  $

  	
  2,093.15

  	
   

  
	
  9/1/00 - 8/31/01

  	
   

  	
  $

  	
  26,738.28

  	
   

  	
  $

  	
  2,228.19

  	
   

  
	
  9/1/01 - 8/31/02

  	
   

  	
  $

  	
  28,358.76

  	
   

  	
  $

  	
  2,363.23

  	
   

  
	
  9/1/02 - 8/31/03

  	
   

  	
  $

  	
  29,979.24

  	
   

  	
  $

  	
  2,498.27

  	
   

  

 

Suite 2020

 

	
  Period

  	
   

  	
  Annual
  Rent

  	
   

  	
  Monthly
  Installment

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  [***]

  	
   

  	
  [***]

  	
   

  	
  [***]

  	
   

  

 

Suite 2015

 

	
  Period

  	
   

  	
  Annual
  Rent

  	
   

  	
  Monthly
  Installment

  	
   

  
	
  9/1/98 - 8/31/99

  	
   

  	
  $

  	
  36,120.00

  	
   

  	
  $

  	
  4,515.00

  	
   

  
	
  9/1/99 - 8/31/00

  	
   

  	
  $

  	
  55,685.04

  	
   

  	
  $

  	
  4,640.42

  	
   

  
	
  9/1/00 - 8/31/01

  	
   

  	
  $

  	
  57,189.96

  	
   

  	
  $

  	
  4,765.83

  	
   

  
	
  9/1/01 - 8/31/02

  	
   

  	
  $

  	
  58,695.00

  	
   

  	
  $

  	
  4,891.25

  	
   

  
	
  9/1/02 - 8/31/03

  	
   

  	
  $

  	
  60,200.04

  	
   

  	
  $

  	
  5,016.67

  	
   

  

 

C.                  Article 47 (“TENANT ALLOWNACE”)
is modified by the addition of the following provision at the end of
Article 47: “Landlord shall pay up to Thirty-Seven Thousand Six Hundred
Twenty-Five and No/100 Dollars ($37,625.00) ($12.50/rsf) as a Tenant Allowance
for construction of 

 

*** Certain information on this page has been omitted and filed
separately with the Securities and Exchange Commission. Confidential treatment
has been requested with respect to the omitted portions.

 

 

improvements approved by Landlord to be installed by Tenant in the
portion of the Premises designated as Suite 2015.   Landlord may, at its option, pay said sum directly to the
contractors or may reimburse said sum to Tenant, in either case upon completion
of said installation and upon Landlord’s receipt of acceptable sworn statements
and final lien waivers from the contractors; provided that Tenant has paid the
entire balance of the construction cost for said improvements in excess of $37, 625.00.

 

D.                                    Exhibit A-3 (“SUITE
2015”) attached hereto is hereby added to the Lease.

 

E.                                      Exhibit B-3
(“INITIAL ALTERATIONS FOR SUITE 2015”) attached hereto is hereby added to the
Lease.

 

3.  INCORPORATION.

 

Except as modified herein, all other terms
and conditions of the Lease between the parties above described, as attached
hereto, shall continue in full force and effect.

 

Redress for any claims against Landlord under this Lease shall only be
made against Landlord to the extent of Landlord’s interest in the property to
which the leased premises are a part.  
The obligations, of Landlord under this lease shall not be personally
binding on, nor shall any resort be had to the private properties of, any of
its trustees or board of directors and officers, as the case may be, the
general partners thereof or any beneficiaries, stockholders, employees or
agents of Landlord, or the investment manager.

 

IN WITNESS WHEREOF, Landlord and Tenant have executed the Amendment as
of the day and year first written above.

 

	
  LANDLORD:

  	
  TENANT:

  
	
   

  	
   

  
	
  RREEF USA FUND-I, INC.,

  	
  TOWNSEND ANALYTICS, LTD.

  
	
   

  	
   

  
	
  By: RREEF Management Company,

  A California corporation

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ Signature Illegible

  	
   

  	
  By:

  	
  /s/MarrGwen Townsend

  	
   

  
	
   

  	
   

  
	
  Title:

  	
  V.P./ General Manager

  	
   

  	
  Title:

  	
  Vice President

  	
   

  
								

 

 

EXHIBIT
A-3

 

attached to and made a part of Lease bearing the

Lease Reference Date of June 3, 1996 between

RREEF USA FUND-I HARTFORD PLAZA, INC., as Landlord and

TOWNSEND ANALYTICS, LTD., as Tenant

 

SUITE 2015

 

Exhibit A-3 is intended only to show the general layout of the Suite
2015 as  of the beginning of the Term of this Lease.  It does not in any way supersede any of
Landlord's rights set forth in section 18.3 of the Lease with respect to
arrangements and/or locations of public parts of the Building and changes in
such arrangements and/or locations.  It
is not to be  scaled; any measurements or distances shown should be
taken as approximate.

 

[Graphics]

 

3,010 square feet

(Approximate Configuration)

100 South Wacker Drive

Suite 2015

Chicago, Illinois 60606

 

 

EXHIBIT B-3

 

attached to and made a part of Lease bearing the

Lease Reference Date of June 3, 1996
between

RREEF
USA FUND-I HARTFORD PLAZA, INC., as Landlord and

TOWNSEND ANALYTICS, LTD., as Tenant

Suites 2040, 2012, 2020 and 2015, 100 South Wacker Drive

Chicago, Illinois 60606

 

INITIAL ALTERATIONS FOR SUITE 2015

 

The undersigned, Landlord and Tenant,
respectively, are executing simultaneously with this letter agreement a written
Lease covering premises (the “Premises”) as described in the Lease and hereby
attach this Work Letter to said Lease as Exhibit B-3 thereto.  Any defined term used in this Exhibit B-3
which is not defined herein shall have the meaning provided for such term in
the Lease.

 

In consideration of the mutual covenants
contained herein and in the Lease, Landlord and Tenant agree as follows:

 

I.                                         Landlord
Work and Plans

 

A.                                   Landlord agrees to
do the Work (“Landlord Work”) as shown on the working drawings and
specifications prepared by ASD dated 10/27/98 (the “Working Drawings”),
excluding any Tenant furnishings, fixtures, equipment and communications and
data cabling.

 

B.                                     Within three (3)
business days after Tenant’s receipt of the Space Plans or Detailed Plans, or
any revisions thereof, Tenant shall deliver either its written approval thereof
or its disapproval thereof must set forth reasonable grounds for said
disapproval and the corrections required to obtain Tenant’s approval (“Tenant’s
Approval”).  In the event Tenant fails
to deliver its written disapproval of said Space Plans or Detailed Plans within
said three (3) business day period, Tenant shall be conclusively deemed to have
approved them.

 

C.                                     The
Schedule for preparation, bidding and award of the construction contract,
and performance of the construction, shall be as  follows:

 

1.                                       Architectural
Drawings - within 10 business days after receipt of Tenant’s Approval

2.                                       Engineering
Drawings - within 10 business days after receipt of Architectural Drawings

3.                                       Landlord Review
- within 3 business days after receipt of

 

 

completed Architectural and Engineering Drawings

4.                                       Receipt of Bids
- within 10 business days after Landlord Review and approval

5.                                       Contract Award -
within 3 business days after Tenant’s Receipt of Bids

6.                                       Substantial
Completion of Construction - within 30 business days after Contract Award and
receipt of City of Chicago Building Permit

 

D.                                    Any modifications,
revisions or changes to the Plans are expressly subject to Landlord’s prior
written approval.

 

E.                                      Tenant
acknowledges that notwithstanding the final
construction cost for the buildout of the tenant improvements to the
Premises, Landlord shall not be required to pay more than a maximum amount of
Thirty-seven Thousand Six Hundred Twenty-Five Dollars ($37,625.00) (equal to
$12.50 rsf) (the “Improvement Allowance”) for the Landlord Work, including all
architectural, design, engineering and utility services, hoist fees and final
cleaning.  Landlord may, at its option,
pay said sum directly to the contractors or may reimburse said sum to Tenant,
in either case upon completion of said installation and upon Landlord’s receipt
of acceptable sworn statements and final lien waivers from the contractors;
provided that Tenant has paid the entire balance of the construction cost for
said improvements.

 

F.                                      In determining
the cost for all Landlord Work, Landlord will require its general contractor to
obtain three (3) bids from each construction trade and to select the lowest
qualified bidder from each such trade. 
Within three (3) business days after Tenant’s receipt of said bids,
Tenant shall deliver either its written approval of the bids, or its
disapproval thereof together with a demand to rebid the Landlord Work or to
have the architect redesign or respecify the Landlord Work so that it can be
constructed at a lower cost.  In the
event Tenant fails to deliver its written disapproval of the bids within said
three (3) business day period, Tenant shall be conclusively deemed to have
approved them.  If Tenant timely sends
notice of its disapproval of the bids, the time required for such rebidding or
redesigning or respecifying shall be deemed to be a Tenant Delay unless the
reason for Tenant’s disapproval was, in Landlord’s reasonable opinion, the
result of an error by Landlord in preparing bid specifications for the
Premises.  The cost of any such redesigning
or respecifying shall be paid by Tenant or may be charged against any unused
balance of the Improvement Allowance.

 

G.                                     In rebidding the
Landlord Work, Landlord will require its general contractor to obtain at least
three (3) bids from each construction trade and 

 

 

to select the lowest qualified bidder from each such trade.  Tenant shall be deemed to have approved such
bids.

 

II.                                    Tenant’s Extra Work

 

If Tenant requests Landlord to do any work in connection with the
Premises other than the Landlord Work, or Tenant requests any modifications or
changes to the Landlord Work after approval of the Working Drawings or Detailed
Plans, and Landlord, in its sole discretion, approves of such other work in
writing (such other work is hereinafter referred to as “Tenant’s Extra Work”),
the following terms, conditions, agreements, and procedures shall be
applicable:

 

A.                                   Tenant shall, at its
sole cost and expense, cause the Landlord’s architects, designers, consultants
and contractors (the “Consultants”) to prepare and submit to Landlord, on or
before the date construction commences (the “Plans Due Date”), all necessary
drawings, plans, and specifications covering the proposed Tenant’s Extra Work
(such drawings, plans and specifications are hereinafter referred to as
“Tenant’s Extra Work Plans”).

 

B.                                     Landlord agrees to
cause the Tenant’s Extra Work
to be constructed, provided that Tenant’s Extra Work Plans are acceptable to
Landlord and approved in writing by Landlord, that the timing of Tenant’s Extra
Work must be coordinated with the scheduling of the original Landlord’s Work,
and that Tenant has complied with all applicable provisions, terms and
conditions of this Work Letter.

 

C.                                     All such Tenant’s
Extra Work shall be done at Tenant’s sole cost and expense.  Prior to commencing any of Tenant’s Extra
Work, Landlord shall submit to Tenant for Tenant’s approval a written estimate
of the cost of Tenant’s Extra Work (hereinafter called (“Estimate”).   If Tenant fails to approve any Estimate in
writing within five (5) business days of its submission to Tenant, the Estimate
shall be deemed disapproved and Landlord shall not be obligated to proceed with
Tenant’s Extra Work but Landlord may complete the construction of the Landlord
Work.   Landlord may require Tenant to
deposit the amount of the Estimate with Landlord within five (5) business days
after Landlord’s written request therefor. 
Such deposit shall be held as security for the payment of, and shall be
credited, without interest, against the sums payable by Tenant under this Work
Letter.

 

D.                                    If Tenant shall request
any modifications, revisions, or changes to 

 

 

the Tenant’s Extra Work at any time and from time to time, it shall
follow the same procedure herein prescribed for the initiation, approval and
commencement of the Tenant’s Extra Work in each such case.

 

E.                                      Tenant agrees to
pay to Landlord the following sums for Tenant’s Extra Work:

 

1.                                       All costs and
expenses pertaining to Tenant’s Extra Work, subcontractors and general and
other conditions costs and expenses, and

 

2.                                       An overhead
charge of ten percent (10%) of the total of all such costs under Paragraph
II.  E. 1. hereof.

 

Tenant shall pay to Landlord within fifteen (15) business days after
being billed therefor, at any time and from time to time, the amount of such
costs, expenses and charges for Tenant’s Extra Work set forth in such billings,
which amounts shall be treated as additional rent under the Lease.

 

III.                                                                                 Completion
of the Work, Tenant’s Acts or Omissions, and Defaults

 

A.                                   Landlord shall give
Tenant not less than ten (10) business days’ notice in writing of the date upon
which Landlord proposes to tender the Premises as substantially completed and
ready for occupancy.   In the event that
the Premises are not in fact substantially completed and ready for occupancy on
the date specified in such notice, Tenant shall notify Landlord in writing of
its objections within five (5) business days after receipt of Landlord’s
notice.   Landlord shall have a
reasonable time after delivery of such notice in which to take such corrective
action as Landlord deems necessary and shall notify Tenant in writing as soon
as it deems such corrective action, if any, has been completed so that the
Premises are completed and ready for occupancy.  In the event of any dispute as to when and whether the work
performed or required to be performed by Landlord has been substantially
completed, the certificate of occupancy issued by the local governmental
authority shall be conclusive evidence of such completion, effective on the
date of the delivery of a copy of any such certificate to Tenant.

 

B.                                     Notwithstanding
anything in the Lease to the contrary, if Tenant is not in default hereunder or
under the Lease, Tenant’s obligation to pay rent under the Lease shall not
commence until Landlord shall have substantially completed the Landlord Work
and Tenant’s 

 

 

Extra Work; provided, however, that if Landlord shall be delayed in
substantially completing the Premises as a result of any act or omission by
Tenant, its agents, employees, representatives or contractors, or any one or
more of them including, without limitation, the following;

 

1.                                       Tenant’s failure
to furnish to Landlord either the Plans or the Tenant’s Extra Work Plans, or
both of them, by the Plans Due Date; or

 

2.                                       Tenant’s failure
to approve any Estimate within five (5) business days of their submission to
Tenant; or

 

3.                                       Tenant’s failure
to pay amounts or deposit any Estimate required hereunder within the period set
forth herein; or

 

4.                                       Tenant’s request
for any materials, finishes, or installations other than Landlord Work as shown
on the Working Drawings; or

 

5.                                       Tenant’s request
that Landlord delay or not construct the Landlord Work or Tenant’s Extra Work
in all or part of the Premises; or

 

6.                                       Tenant’s delay
in supplying any of the Consultants with any requested information; or

 

7.                                       Tenant’s
changes at any time or from time to time in any one or more of the following:
Landlord Work, Tenant’s Extra Work, the Working Drawings or Detailed Plans, or
Tenant’s Extra Work Plans, regardless of Landlord’s approval of any such
changes; or

 

8.                                       The performance
or completion by Tenant, or any person or entity employed by Tenant, of any
work on or about the Premises including, without limitation, any disharmony or
interference caused by such performance or completion as further described in
Paragraph IV. A. hereof; or

 

9.                                       Tenant’s
direct purchase of materials; or

 

10.                                 Any
other act or omission by Tenant or any of its agents, employees,
representatives or contractors;

 

then, in any such event, the commencement of
the term of the Lease and the payment of rent thereunder shall not be affected 

 

 

or deferred on account of such delay notwithstanding that the Landlord
Work and/or the Tenant’s Extra Work may not be substantially completed.  The cost of any changes and/or additions
made to the Landlord Work, Tenant’s Extra Work, the Plans, or Tenant’s Extra
Work Plans at the request of Tenant after Landlord and Tenant have agreed on
the Plans or Tenant’s Extra Work Plans, including but not limited to the actual
cost of such changes or additions, the cost of any revisions to the Plans or
Tenant’s Extra Work Plans, and the cost of any delays in construction resulting
from any Tenant requested changes, all as determined by Landlord in its sole
discretion, whether or not such changes are finally agreed to, together with
ten percent (10%) of such costs for Landlord’s overhead, shall be paid by
Tenant upon Landlord’s presentation of a bill therefor and such amount shall be
treated as additional rent under the Lease.

 

C.                                     If Tenant shall
fail to comply with any term, provision or agreement hereunder or if Landlord
and Tenant fail to reach agreement of the Plans or Tenant’s Extra Work Plans
within fifteen (15) business days after the submission thereof to Landlord, and
if any such matter is not remedied or resolved to Landlord’s satisfaction
fifteen (15) business days following written notice to Tenant, then, in
addition to any other remedies granted Landlord under the Lease in the case of
default by Tenant and any remedies provided for elsewhere in this Work Letter
or available at law or equity, Landlord may elect, upon notice to Tenant, to:
(1) discontinue all work hereunder, and Tenant’s obligation to pay rent shall
commence as of the Commencement Date set forth in the Lease, without any
abatement on account of any delay in connection with any work relating to the
Premises, (2) complete the construction of the Landlord Work pursuant to the
Plans as approved by Landlord and Tenant or complete any work which Landlord
and Tenant have agreed to in writing, tendering possession to Tenant upon
substantial completion thereof, the date of such tender being deemed to be the
Commencement Date under the Lease, and charge Tenant for the additional costs
of completing the electrical, plumbing, office partitions and other work, the
plans and specifications for which have not been agreed to by Landlord and
Tenant, which amount shall be paid by Tenant to Landlord as additional rent
prior to any such work commencing, or (3) cancel the Lease, effective fifteen
(15) business days after Tenant receives notice thereof, without incurring any
liability on account thereof and the term granted under the Lease is expressly
limited accordingly.  If Landlord
cancels the Lease pursuant to the terms hereof or as a result of Tenant’s
default under the Lease, such cancellation shall not affect Tenant’s liability
for any sums payable 

 

 

hereunder.

 

IV.                                 Tenant’s Access to the
Premises

 

A.                                   Landlord, in its
sole discretion, may permit Tenant and Tenant’s agents or contractors to enter
the Premises prior to the Commencement Date specified in the Lease in order
that Tenant may do other approved work or alterations as may be required by
Tenant to make the Premises ready for Tenant’s use and occupancy.  If Landlord permits such prior entry, then
such license shall be subject to the condition that Tenant and Tenant’s agents,
contractors, workmen, mechanics, suppliers, and invitees shall work in harmony
and not interfere with Landlord and its agents and contractors in doing their
work in the above building or with other tenants and occupants of the above
building.  If at any time such entry
shall cause or threaten to cause such disharmony or interference, Landlord, in
its sole discretion, shall have the right to withdraw and cancel such license
upon twenty-four (24) hours written notice to Tenant and any further prior
entry shall be prohibited.  Tenant
agrees that any entry into and any occupation of the Premises shall be deemed
to be under all of the terms, covenants, conditions and provisions of the Lease,
except as to the covenant to pay rent, and further agrees that to the extent permitted by  Law, Landlord and its principals, employees and agents
shall not be liable in any way for any injury or death to any person or
persons, loss or damage to any of Tenant’s work and installations made in the
Premises, or loss or damage to property placed therein, the same being at
Tenant’s sole risk.  Tenant agrees to
protect, defend, indemnify, and save  harmless Landlord and its
principals, employees and agents from all liabilities, costs, damages, fees and
expenses (including reasonable attorneys’ fees and expenses) arising out of or
connected with the activities of Tenant or its agents, contractors, workmen,
mechanics, suppliers and invitees in or about the Premises or the above
building.

 

B.                                     In addition to any
other conditions or limitations on such license to enter the Premises prior to
the said occupancy date, Tenant expressly agrees that none of its agents,
contractors, workmen, mechanics, suppliers, or invitees shall enter the
Premises prior to such occupancy date unless and until each of them shall
furnish such assurances to Landlord, including but not limited to, insurance
coverages, waivers of lien, surety company performance bonds and personal
guaranties of individuals of substance, as Landlord shall require to protect
Landlord against any loss, casualty, liability, liens or claims.

 

 

V.                                     Miscellaneous

 

A.                                   Tenant expressly
assumes the responsibility and obligation of supplying the Consultants with all
information concerning Tenant’s requirements with respect to the Landlord Work
and Tenant’s Extra Work as and when requested by any of the Consultants.

 

B.                                     The Landlord Work
and Tenant’s Extra Work, if any, shall be done by the contractors and
subcontractors designated by Landlord, in accordance with the terms, conditions
and provisions herein contained.

 

C.                                     Except as set
forth in Paragraph 1.  A. hereof,
Landlord has no other agreement with Tenant and has no obligation to do any
work with respect to the Premises.  Any
other work in the Premises which may be permitted by Landlord pursuant to the
terms and conditions of the Lease shall be done at Tenant’s sole cost and
expense and in accordance with the terms and provisions herein set forth
pertaining to Tenant’s Extra Work and such additional requirements as Landlord
deems necessary or desirable.

 

D.                                    All rights and
remedies of Landlord herein created or otherwise existing at law or equity are
cumulative, and the exercise of one or more such rights or remedies shall not
be deemed to exclude or waive the right to the exercise of any other rights or
remedies.  All such rights and remedies
may be exercised and enforced concurrently and whenever and as often as deemed
desirable.

 

E.                                      Time is of the
essence under this agreement.

 

F.                                      Any person
signing this agreement on behalf of the Tenant represents and warrants that he
has the express authority of the Tenant to do so.  Any person signing this agreement on behalf of Landlord
represents and warrants that he has the express authority of Landlord to do so.

 

G.                                     The terms and
provisions of the Lease are hereby incorporated herein by reference and made a
part hereof, but none of the terms or provisions contained herein shall be
interpreted to modify or amend the Lease, except as provided in Paragraph III
hereof.  This Work Letter shall not be
deemed applicable to any additional office space added to the original Premises
at any time or from time to time, whether by any options under the Lease or
otherwise, or to any portion of the original Premises or any additions thereto
in the event of a renewal or extension of the original term of the 

 

 

Lease, whether by any options under the Lease or otherwise.

 

H.                                    This agreement
shall be binding upon and inure to the benefit of the parties hereto and their
respective heirs, executors, legal representatives, successors and assigns.

 

I.                                         This agreement
shall in all respects be governed by the laws of Illinois.

 

If the foregoing correctly sets forth our understanding, please sign
two copies of this letter agreement where indicated and return the same to us.

 

	
  LANDLORD:

  	
  TENANT:

  
	
   

  	
   

  
	
  RREEF USA FUND-I, INC., HARTFORD

  PLAZA, INC., a Delaware corporation

  	
  TOWNSEND ANALYTICS, LTD.

  an Illinois corporation

  
	
   

  	
   

  
	
  By: RREEF Management Company,

  a Delaware corporation

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ Signature Illegible

  	
   

  	
  By:

  	
  /s/MarrGwen Townsend

  	
   

  
	
   

  	
   

  
	
  Title:

  	
  V.P., General  Manager.

  	
   

  	
  Title:

  	
  Vice President

  	
   

  
	
   

  	
   

  
	
  Date:

  	
  Nov. 
  12, 1998

  	
   

  	
  Dated:

  	
  11/11/1998

  	
   

  
									

 

 

FIFTH
AMENDMENT TO LEASE

 

THIS FIFTH AMENDMENT TO LEASE
(“Fifth Amendment”) is made as of the 1st day of July, 1999, by and among LINCOLN-CARLYLE
HARTFORD, L.L.C., a Delaware limited liability company (“Landlord”),
and TOWNSEND
ANALYTICS, LTD., an Illinois corporation (“Tenant”).

 

WITNESSETH

 

A.                                Landlord’s
predecessor-in-interest and Tenant entered into a certain lease dated as of
June 3, 1996, as amended by a letter agreement dated August 28, 1996
and by Amendments dated as of December 20, 1996, July 17, 1997,
July 31, 1998 and November 12, 1998 (the original Lease, as amended
by such letter agreement and Amendments is referred to herein as the “Lease”),
whereby Landlord’s predecessor-in-interest or Landlord leased to Tenant certain
premises consisting of Suite Nos.  2040
(9,939 rentable square feet), 2012 (3,241 rentable square feet), 2020 (2,852
rentable square feet) and 2015 (3,010 rentable square feet), containing in the
aggregate approximately 19,042 square feet of rentable area of office space
(the “Existing Premises”) on the twentieth (20th) floor of the
building located at 100 South Wacker Drive, Chicago, Illinois 60606 (the
“Building”) for a term expiring on August 31, 2003.   Landlord has also entered into various
Storage Space Lease Agreements dated October 13, 1997 (Suite 2045-587
rentable square feet), December 15,  1997 Suite 2017-120 rentable
square feet), January 14, 1998 (Suite 2023-318 rentable square feet) and
April 30, 1999 (Suite 65-846 rentable square feet) (collectively, the
“Storage Agreements”).

 

B.                                     Landlord
and Tenant intend, simultaneously or shortly following execution of this Fifth
Amendment, to enter into a Storage Space Lease Agreement for space located in
Suite 1943 on the 19th   floor containing approximately 581 rentable square feet
(“Suite 1943”) for terms which are or will be co-terminus with the Term of the
Lease as extended by this Fifth Amendment.

 

C.                                     Landlord
and Tenant desire to amend the Lease herein to extend the Term thereof, to
provide for the expansion of the Premises to include additional space on the 15th,
19th, and 20th Floors of the Building (collectively, the
“Expansion Premises”) and to modify certain other provisions as set forth
herein but not otherwise.

 

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

 

PART
I - GENERAL PROVISIONS - EXISTING PREMISES

 

1.                                       Definitions.  Each capitalized term used in this Fifth
Amendment shall have the same meaning as is ascribed to such capitalized term
in the Lease, unless otherwise provided for herein.

 

 

2.                                       Extension
Term; Renewal Rights. 
The Term of the Lease is hereby extended for an additional [***] period
(the “Extension Term”).  The Extension
Term will commence [***] (the “Extension Termination Date”).  For purposes of Section 45 of the Lease (“Renewal Rights”),
the Extension Termination Date shall be substituted for the “Termination Date”,
thereby affording Tenant a one-time option to renew the Term for [***], subject
to the terms and conditions set forth in Section 45.

 

3.                                       Rent.   During
the Extension Term, Annual Rent for the Existing Premises and the Monthly
Installments thereof shall be as set forth below, payable in the manner
provided in Article 3 of the Lease:

 

	
  Period

  	
   

  	
  Annual
  Base Rent

  	
   

  	
  Monthly
  Installment

  of Base Rent

  	
   

  	
  Per Square

  Foot Annual

  Rent

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  [***]

  	
   

  	
  [***]

  	
   

  	
  [***]

  	
   

  	
  [***]

  

 

4.                                       Tenant’s
Proportionate Share. 
During the Extension Term, for the purposes of determining Adjusted
Monthly Base Rent pursuant to Article 4 of the Lease as amended hereby,
Tenant’s Proportionate Share as set forth on the Reference Page of the Lease
attributable to the Existing Premises, effective on September 1, 2003,
shall be increased to 3.718% (based on a remeasured rentable area of the
Building of 512,205 square feet). 
Tenant’s Proportionate Share will increase upon the respective
“Expansion Space Commencement Date” defined below for each expansion of the
Premises described below.

 

5.                                       Extension
of Storage Agreements.  The Term of each of the Storage Agreements
is hereby extended from their respective expiration dates of [***].  Notwithstanding the foregoing, it is
acknowledged that the Storage Agreement dated April 30, 1999 for Suite 65  (the
“Suite 65 Storage Agreement”) provides for an expiration date of [***].  Landlord and Tenant agree that the Suite 65 Storage Agreement is hereby amended
to provide for a termination date of [***] as if said date had been the date
for expiration of the Term thereof initially and all terms and provisions of
the Suite 65 Storage Agreement that purport to apply to periods subsequent to
[***] are hereby rendered null and void and of no force and effect.  With respect to the remaining Storage
Agreements, the “Monthly Installment of Rent” under each said Storage Agreement
shall increase for the period from [***] at a rate of [***] per square foot per
annum on a cumulative, compounded basis, over the Monthly Installment of Rent
provided for in said Agreement for the year ending [***].

 

6.                                       No Tenant Allowance.  Landlord shall not provide Tenant with any
tenant allowance for the Existing Premises in connection with the extension of
the Term and other amendments to the Lease described in this Fifth Amendment,
except to the extent expressly provided for below with respect to the Expansion
Premises.

 

7.                                       Condition
of Premises.  Tenant’s
execution and delivery of this Fifth 

 

*** Certain information on this page has been omitted and filed
separately with the Securities and Exchange Commission. Confidential treatment
has been requested with respect to the omitted portions.

 

 

Amendment shall be conclusive evidence that the Existing Premises are
in good order and satisfactory condition as of the date hereof.  No agreement of Landlord to alter, remodel,
decorate, clean or improve the Existing Premises or the Building and no representation
or warranty regarding the condition of the Existing Premises or the Building or
regarding any other matter of any kind or nature has been made by or on behalf
of Landlord to Tenant under or by reason of this Fifth Amendment.

 

8.                                       Improvements
Required For  Existing and Expansion Premises;
Suite 1943 and Rooftop.   Landlord
and Tenant acknowledge that Tenant is required to install certain improvements
(the “Roof and Suite 1943 Improvements”) in Suite 1943 and on the roof of the
Building to accommodate Tenant’s mechanical, electrical and heating,
ventilating and cooling needs for the Existing Premises and the New
Premises.  The major components of such
improvements include four (4) rooftop HVAC units and various transformers, ups
units, batteries and other equipment to be installed in Suite 1943.  All plans, specifications and working
drawing for any work to be performed to install the Roof and Suite 1943
Improvements (the “Plans”) shall be submitted to Landlord for review.   Landlord shall have the right to disapprove
the Plans or to require modifications thereto as are reasonable in light of the
equipment to be installed and work to be performed, which modifications may
include the installation of additional structural support to Suite 1943 as is necessary
to support loads created by the improvements to be installed.  Landlord shall have five (5) business
days following the delivery of the Plans to approve or disapprove same, and, if
disapproved, to require modifications thereto as reflected above.  If disapproved, Tenant shall make the
required modifications to the Plans and shall resubmit them to Landlord in
accordance with the foregoing procedure. 
Tenant has agreed to bear all costs associated with the preparation of
the Plans, the Roof and Suite 1943 Improvements, and the work required to
install such improvements at Tenant’s sole cost and expense and to engage ESD
as the engineer to prepare systems plans for such improvements.  If requested by Landlord by written notice
to Tenant given not less than six (6) months prior to the Extension Termination
Date, Tenant, prior to the expiration of the Term, shall remove the Roof and
Suite 1943 Improvements and all cabling, hardware and other equipment
associated therewith, regardless of whether installed in the Existing Premises,
the Expansion Premises or any computer rooms located therein, and Tenant shall
surrender all rooftop areas and Suite 1943 in substantially the same condition
as existed prior to the installation of the Roof and Suite 1943 Improvements.  Tenant shall be liable, and shall promptly
reimburse Landlord for, the cost of repairing all damage done to the Building
by the installation, removal or failure to remove such improvements, including
filling and sealing of any holes or cavities created by the removal
thereof.  All other provisions of the
Lease requiring Tenant to provide insurance to and indemnify Landlord against
risks associated with the use of the Premises shall apply to the rooftop area
used by Tenant and to the Roof and Suite 1943 Improvements and Tenant agrees to
fully comply with the requirements of any warranty or guaranty affecting the
roof of the Building.

 

 

9.                                       Notice
Provisions.  The Reference Page of
the Lease is hereby amended to reflect the following address to Landlord:

 

“Lincoln-Carlyle Hartford, L.L.C.

c/o Lincoln Property Company

120 North LaSalle Street

Chicago, Illinois 60602

Attention:  Vice President-Asset
Management”

 

10.                                 Real
Estate Broker.   Tenant represents that Tenant has not dealt
with any real estate broker, salesperson or finder in connection with this
Fifth Amendment and no such person initiated or participated in the negotiation
of this Fifth Amendment or is entitled to any fee or commission in connection
herewith.  Tenant hereby agrees to
indemnify and hold Landlord, its property manager and their respective agents
and employees harmless from and against any and all damages, liabilities,
claims, actions, costs and expenses (including attorneys’ fees) arising from
either (i) any claims or demands of any broker, salesperson or finder for any
fee or commission alleged to be due such broker, salesperson or finder in
connection with this Fifth Amendment or (ii) a claim of, or right to, any lien
under the Statutes of the State of Illinois relating to real estate broker
liens with respect to any such broker, salesperson or finder retained by
Tenant.

 

11.                                 Te1ecommunications Riser.   Tenant
has requested that Landlord install an additional telecommunications riser in
the Building to service Tenant’s (and possibly other tenants)
telecommunications needs.  Landlord has
not agreed to install any such riser, but hereby agrees to work with Tenant in
good faith to develop a joint plan to service Tenant’s present and future telecommunications
needs, including the sharing of costs associated with the installation or use
of any new riser or improvements to the existing riser.  In addition, Landlord may impose reasonable
usage fees associated with Tenant’s use of the existing or any newly
constructed riser.  The foregoing, however,
shall not be deemed to impose on Landlord any affirmative or implied obligation
to construct or install such new riser or other improvements.

 

12.                                             Expansion
of Right of First Offer.   Section 43
of the Lease is hereby amended to add to the “Option Premises” (as defined
therein) any space which becomes available for leasing which is outside of the
Premises and the Expansion Premises and is located on the eleventh (11th) through the
twenty-first (21st) floors of the Building, subject to the rights and
limitations on Tenant’s right of first offer to lease such additional portions
of the Option Premises set forth in Section 43.  In particular, no space will be deemed “available for leasing”
pursuant to Section 43 of the Lease if such space is subject to a right or
option to lease set forth in or granted under any other lease in the Building
unless and until such right or option set forth in such other lease has expired
by its terms without being exercised by the tenant granted such right.

 

 

PART
2 - EXPANSION PROVISIONS

 

1.                                       Provisions
Relating to Lease of 20th Floor Premises.

 

(a)                                  Landlord hereby
leases to Tenant and Tenant hereby leases from Landlord, additional space on
the 20th Floor Premises consisting of 4,215
rentable square feet as outlined on Exhibit A-1 hereto and commonly
known as Suite 2000 (the “20th Floor Premises”) for a term
commencing as set forth below and terminating on the Extension Termination Date
(the “20th Floor Premises Term”).

 

(b)                                 Base Rent payable for
the 20th Floor Premises during the 20th Floor Premises
Term shall be as set forth in Exhibit B to this Fifth Amendment.  Said Base Rent, together with all Additional
Rent payable under the Lease, shall be payable in advance on the first day of
each calendar month.  Base Rent for any
partial month shall be prorated on the basis of the number of days of such
calendar month falling within the 20th Floor Premises Term.

 

(c)                                  Tenant shall complete
any and all work required to be performed in the 20th Floor Premises
for occupancy thereof by Tenant (the “Work”) at Tenant’s sole cost and expense
(except for Landlord’s Contribution, defined below).  The Work shall be designed and performed in accordance with the
Workletter attached as Exhibit C hereto (the “Workletter”), except that Tenant
hereby agrees to retain the architect and ESD to prepare all plans and drawings
associated with the Work and submit such “Plans” (as defined in said
Workletter) for the Work and Landlord shall have a period of five (5) business days to review and
provide comments to the Plans.  Rent for
the 20th Floor Premises shall commence upon the earlier to occur of
(a) when substantial completion of the Work associated with the 20th
Floor Premises occurs or is deemed to occur as specified in the Workletter, or
(b) the expiration of ten (10) weeks following the date on which Landlord
delivers occupancy of the 20th Floor Premises to Tenant for
performance of the Work (such earlier date being the “20th Floor Expansion Space Commencement Date).  Landlord hereby agrees to pay Fifty-Nine
Thousand Ten and no/l00 Dollars ($59,010.00)
(based on $14.00 per square foot) for the Work to be performed in the 20th Floor Space, (“Landlord’s 20th
Floor Contribution”), which shall be used for the cost and expense of the Work
and architectural and space planning fees associated therewith, and costs
associated with the relocation of Tenant’s furnishings, signage and
cabling.  In the event less than all of
Landlord’s 20th Floor Contribution is paid in connection with the
Work, any unused portion thereof shall be credited to Tenant against the first
payment(s) of Base Rent and Additional Rent payable for the 20th
Floor Premises.

 

(d)                                 Notwithstanding
anything to the contrary set forth above, the foregoing “Provisions Relating to
the 20th Floor Premises”
are subject to Landlord’s ability to terminate the lease and obtain possession
of the Premises of the current tenant of Suite 2000 in the Building.

 

 

(e)                                  As of the date Rent
commences for the 20th Floor
Premises Tenant’s Proportionate Share under the Lease will increase by 0.823 %.

 

2.                                       Provisions
Relating to Lease of 19th Floor Premises.

 

(a)                                  Landlord hereby
leases to Tenant and Tenant hereby leases from Landlord, additional space on
the 19th Floor Premises consisting of 9,393 rentable square feet as
outlined on Exhibit A-2 hereto and commonly known as Suite 1925 (the “19th Floor Premises”) for
a term commencing as set forth below and terminating on the Extension
Termination Date (the “19th Floor Premises Term”).  Tenant shall have the right to enter the 19th
Floor Premises for purposes of performing the “Work” (defined in 2(c) below) as
and when permitted pursuant to the Workletter.

 

(b)                                 Base Rent payable for
the 19th Floor Premises during the 19th Floor Premises Term shall be
as set forth in Exhibit B to this Fifth Amendment.   Said Base Rent, together with all Additional Rent payable under
the Lease, shall be payable in advance on the first day of each calendar
month.  Base Rent for any partial month
shall be prorated on the basis of the number of days of such calendar month
falling within the 19th  Floor
Premises Term.

 

(c)                                  Tenant shall complete
any and all work required to be performed in the 19th Floor Premises
for occupancy thereof by Tenant (the “Work”) at Tenant’s sole cost and expense
(except for Landlord’s Contribution, defined below).  The Work shall be designed and performed in accordance with the
Workletter attached as Exhibit C hereto (the “Workletter”), except that Tenant
hereby agrees to retain the architect and ESD to prepare all plans and drawings
associated with the Work and submit such “Plans” (as defined in said
Workletter) for the Work as soon as possible, but in any event on or before
July 30, 1999.  Landlord shall have
a period of five (5) business
days to review and provide comments to the Plans.  Rent for the 19th  Floor
Premises shall commence upon the earlier to occur of (a) when substantial
completion of the Work associated with the 19th  Floor Premises occurs or is deemed to
occur as specified in the Workletter, or (b) October 1, 1999 (such earlier
date being the “19th  Floor Expansion Space Commencement
Date”).  Landlord hereby agrees to pay
One Hundred Thirty-One Thousand Five Hundred Two and no/100 Dollars
($131,502.00) (based on $14.00 per square foot) for the Work to be performed in
the 19th  Floor
Premises, (“Landlord’s 19th  Floor
Contribution”), which shall be used for the cost and expense of the Work and
architectural and space planning fees associated therewith, and costs
associated with the relocation of Tenant’s furnishings, signage and
cabling.  In the event less than all of
Landlord’s 19th  Floor
Contribution is 

 

 

paid in connection with the Work, any unused portion thereof shall be
credited to Tenant against the first payment(s) of Base Rent and Additional
Rent payable for the 19th  Floor
Premises.

 

(d)                                 As of the date Rent
commences for the 19th  Floor
Premises Tenant's Proportionate Share under the Lease will increase by 1.834%.

 

3.                                      Provisions
Relating to Lease of 15th Floor Premises.

 

(a)                                  Landlord hereby
leases to Tenant and Tenant hereby leases from Landlord, additional space on
the 15th Floor Premises consisting of 11,828 rentable square feet as
outlined on Exhibit A-3 hereto and commonly known as Suite 1550 (the 15th  Floor Premises”) for a term commencing as
set forth below and terminating on the Extension Termination Date (the “15th
Floor Premises Term”).  Tenant shall
have the right to enter the 15th  Floor
Premises for purposes of performing “Tenant’s Work” (defined in 3(c) below) as
and when permitted pursuant to the Workletter.

 

(b)                                 Base Rent payable for
the 15th Floor Premises during the 15th Floor Premises Term shall be as set
forth in Exhibit B to this Fifth Amendment. 
Said Base Rent, together with all Additional Rent payable under the Lease,
shall be payable in advance on the first day of each calendar month.  Base Rent for any partial month shall be
prorated on the basis of the number of days of such calendar month falling
within the 15th  Floor
Premises Term.

 

(c)                                  Tenant shall complete
any and all work required to be performed in the 15th  Floor Premises for occupancy thereof by
Tenant (the “ Work”) at Tenant’s sole cost and expense (except for Landlord’ s
Contribution, defined below).  The Work
shall be designed and performed in accordance with the Workletter attached as
Exhibit C hereto (the “Workletter”), except that Tenant hereby agrees to retain
the architect and ESD to prepare all plans and drawings associated with the
Work and submit such “Plans” (as defined in said Workletter) for the Work as
soon as possible, but in any event on or before July 30, 1999.  Landlord shall have a period of five (5)
business days to review and provide comments to the Plans.  Rent for the 15th Floor Premises shall commence upon the earlier to
occur of (a) when substantial completion of the Work occurs or is deemed to
occur as specified in the Workletter, or (b) October 1, 1999 (such earlier
date being the “15th Floor
Expansion Space Commencement Date”). 
Landlord hereby agrees to pay One Hundred Sixty-Eight Thousand and no/100
Dollars ($168,000.00) (based on $14.00 per square foot) for the Work to be
performed in the 15th Floor
Space, (“Landlord’s 15th Floor
Contribution”), which shall be used for the cost and expense of the Work and
architectural and space planning fees associated therewith, 

 

 

and costs associated with the relocation of Tenant’s furnishings,
signage and cabling.   In the event less
than all of Landlord’s 15th Floor
Contribution is paid in connection with the Work, any unused portion thereof
shall be credited to Tenant against the first payment(s) of Base Rent and
Additional Rent payable for the 15th Floor
Premises.

 

(d)                                 As
of the date Rent commences for the 15th Floor
Premises Tenant’s Proportionate Share under the Lease will increase by 2.309%.

 

PART 3 - MISCELLANEOUS

 

1.                                       Submission.  Submission of this Fifth Amendment by
Landlord or Landlord’s agent, or their respective agents or representatives, to
Tenant for examination and/or execution shall not in any manner bind Landlord
and no obligations on Landlord shall arise under this Fifth Amendment unless
and until this Fifth Amendment is fully signed and delivered by Landlord and
Tenant.

 

2.                                       Binding Effect; Conflict.  The Lease, as amended hereby, shall
continue in full force and effect, subject to the terms and provisions thereof
and hereof.  In the event of any
conflict between the terms of the Lease and the terms of this Fifth Amendment,
the terms of this Fifth Amendment shall control.  This Fifth Amendment shall be binding upon and inure to the
benefit of Landlord, Tenant and their respective successors and permitted
assigns.

 

3.                                       Consent to Subleases.  Landlord acknowledges that Tenant may elect,
from time to time, to sublease portion of the Premises (including portions of
the Existing Premises or those portions of the Expansion Premises as to which
Tenant has commenced paying Rent) to Terra Nova Trading, L.L.C.  and/or Archipelago Holdings, L.L.C., each of
which is an affiliate of the principals of Tenant, or their respective
subsidiaries or affiliates.  In addition,
notwithstanding the provisions of Article 10 of the Lease to the contrary,
a sublease or subleases of not more than fifty percent (50%) of the aggregate square footage of the Premises to such
entities shall be permitted without the prior consent of, but with not less
than thirty (30) days’ prior written notice to, Landlord.

 

4.                                       Limitation
of Liability.   Neither
Landlord nor any officer, director, member or employee of Landlord nor any
owner of the Building, whether disclosed or undisclosed, shall have any
personal liability with respect to any of the provisions of the Lease, as
hereby amended, or the Premises, and if Landlord is in breach or default with
respect to Landlord’s obligations under the Lease, as hereby amended, or
otherwise, Tenant shall look solely to the equity interest of Landlord in the
Building for the satisfaction of Tenant’s remedies or judgments.

 

IN WITNESS WHEREOF,
this Fifth Amendment is executed as of the day and year aforesaid.

 

 

	
  TENANT:

  	
  LANDLORD:

  
	
   

  	
   

  	
   

  
	
  TOWNSEND ANALYTICS, LTD.,

  	
  LINCOLN-CARLYLE HARTFORD, L.L.C.,

  
	
  an Illinois corporation 

  	
  a Delaware limited liability company

  
	
   

  	
   

  
	
  By:

  	
    /s/MarrGwen Townsend

  	
   

  	
  By:  Lincoln Hartford, LLC, a Delaware

  
	
   

  	
  limited liability company, Managing Member

  
	
   

  	
   

  
	
  Its:

  	
      Vice President

  	
   

  	
  By: Lincoln Investors Group 3,
  Inc., a

  
	
   

  	
  Texas corporation, Managing Member

  
	
   

  	
  By:

  	
      /s/John B. Grissim

  	
   

  
	
   

  	
  Name:

  	
     John B. Grissim

  	
   

  
	
   

  	
   

  	
  Authorized Agent

  
							

 

 

EXHIBITS

 

	
  A-1

  	
  Depiction
  of 20th Floor Premises

  	
   

  
	
  A-2

  	
  Depiction
  of 19th Floor Premises

  	
   

  
	
  A-3

  	
  Depiction
  of 15th Floor Premises

  	
   

  
	
  B

  	
  Expansion Premises Base Rent

  	
   

  
	
  C

  	
  Workletter

  	
   

  

 

 

EXHIBIT A-1

 

[Graphics]

 

 

EXHIBIT A-2

 

[Graphics]

 

 

EXHIBIT A-3

 

[Graphics]

 

 

EXHIBIT B TO FIFTH
AMENDMENT

 

20th
Floor Premises Base Rent

 

	
  Period of Lease

  	
   

  	
  Annual
  Base Rent

  	
   

  	
  Monthly
  Base Rent

  	
   

  	
  Per Square
  Foot

  Annual Rent

  	
   

  
	
  11/20/99 - 08/31/00

  	
   

  	
  $

  	
  76,923.75

  	
   

  	
  $

  	
  6,410.31

  	
   

  	
  $

  	
  18.250

  	
   

  
	
  09/01/00 - 08/31/01

  	
   

  	
  $

  	
  79,231.46

  	
   

  	
  $

  	
  6,602.62

  	
   

  	
  $

  	
  18.797

  	
   

  
	
  09/01/01 - 08/31/02

  	
   

  	
  $

  	
  81,608.41

  	
   

  	
  $

  	
  6,800.70

  	
   

  	
  $

  	
  19.361

  	
   

  
	
  09/01/02 - 08/31/03

  	
   

  	
  $

  	
  84,056.66

  	
   

  	
  $

  	
  7,004.72

  	
   

  	
  $

  	
  19.942

  	
   

  
	
  09/01/03 - 08/31/04

  	
   

  	
  $

  	
  86,578.36

  	
   

  	
  $

  	
  7,214.86

  	
   

  	
  $

  	
  19.942

  	
   

  
	
  09/01/04 - 08/31/05

  	
   

  	
  $

  	
  89,175.71

  	
   

  	
  $

  	
  7,431.31

  	
   

  	
  $

  	
  21.157

  	
   

  
	
  09/01/05 - 08/31/06

  	
   

  	
  $

  	
  91,850.98

  	
   

  	
  $

  	
  7,654.25

  	
   

  	
  $

  	
  21.791

  	
   

  

 

[***]

 

	
  Period of Lease

  	
   

  	
  Annual
  Base Rent

  	
   

  	
  Monthly
  Base Rent

  	
   

  	
  Per Square
  Foot

  Annual Rent

  	
   

  
	
  [***]

  	
   

  	
  [***]

  	
   

  	
  [***]

  	
   

  	
  [***]

  	
   

  

 

[***]

 

	
  Period of Lease

  	
   

  	
  Annual
  Base Rent

  	
   

  	
  Monthly
  Base Rent

  	
   

  	
  Per Square
  Foot

  Annual Rent

  	
   

  
	
  [***]

  	
   

  	
  [***]

  	
   

  	
  [***]

  	
   

  	
  [***]

  	
   

  

 

*** Certain information on this page has been omitted and filed
separately with the Securities and Exchange Commission. Confidential treatment
has been requested with respect to the omitted portions.

 

 

EXHIBIT C

 

15TH
Floor Premises

19th
Floor Premises

20th
Floor Premises

 

WORKLETTER

 

(Tenant
Does the Tenant Build-Out)

 

 

TABLE
OF CONTENTS

 

	
  Section

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  1.

  	
  Acceptance of Premises

  	
   

  
	
   

  	
   

  	
   

  
	
  2.

  	
  Work

  	
   

  
	
   

  	
   

  	
   

  
	
  3.

  	
  Preconstruction Activities

  	
   

  
	
   

  	
   

  	
   

  
	
  4.

  	
  Delays

  	
   

  
	
   

  	
   

  	
   

  
	
  5.

  	
  Charges
  and Fees

  	
   

  
	
   

  	
   

  	
   

  
	
  6.

  	
  Change
  Orders

  	
   

  
	
   

  	
   

  	
   

  
	
  7.

  	
  Standards of Design and Construction and Conditions of Tenant’s
  Performance

  	
   

  
	
   

  	
   

  	
   

  
	
  8.

  	
  Insurance
  and Indemnification

  	
   

  
	
   

  	
   

  	
   

  
	
  9.

  	
  Landlord’s Contribution; Excess Amounts

  	
   

  
	
   

  	
   

  	
   

  
	
  10.

  	
  Miscellaneous

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  ATTACHMENT A
  - MINIMUM INFORMATION FOR PLANS

  	
   

  

 

 

WORKLETTER
AGREEMENT

 

THIS WORKLETTER AGREEMENT (“Workletter”) is executed simultaneously
with that certain Fifth Amendment to Lease between Townsend Analytics, Ltd., as
Tenant, and Lincoln-Carlyle Hartford, L.L.C., as Landlord (the “Fifth
Amendment”), relating to certain “Expansion Premises” (as defined in the Fifth
Amendment), which are further defined in the Fifth Amendment as the 15th  Floor Premises”, the “19th  Floor Premises”, and the “20th  Floor
Premises”) located at the building commonly known as 100 South Wacker Drive,
Chicago, Illinois (“Building”).  For
purposes of this Workletter, the “Premises”, if used without further
definition, shall mean and refer to that portion of the Work (defined  below)
associated with the respective three areas of the Expansion Premises referred
to above.  Capitalized terms used
herein, unless otherwise defined in this Workletter, shall have the respective
meanings assigned to them in the Fifth Amendment or the remainder of the Lease;
provided that in the event of any conflict between the terms and provisions of
the Fifth Amendment and the terms and provisions of the remainder of the Lease,
the terms and provisions of the Fifth Amendment shall prevail.

 

For and in consideration of the agreement to lease the demised premises
and the mutual covenants contained herein and in the Lease, Landlord and Tenant
hereby agree as follows:

 

1.                                       Acceptance of Premises.  Tenant has agreed to accept the Premises in
its current “as is” Condition in order to perform the “Work” (defined below)
therein.

 

2.                                       Work.  Tenant,
at its sole cost and expense (subject to Landlord’s obligation to fund
Landlord’s Contribution), shall perform or cause to be performed the work (the
“Work”) in the Premises provided for in the Plans (as defined in Paragraph 3
hereof) submitted to and approved by Landlord. 
Tenant’s Work shall be constructed in a good and workmanlike fashion, in
accordance with the requirements set forth herein and in compliance with all
applicable laws, ordinances, rules and other governmental requirements.   Tenant shall commence the construction of
the Work promptly following completion of the preconstruction activities
provided for in Paragraph 3 below and shall diligently proceed with all such
construction.  Tenant shall coordinate
its Work so as avoid interference with any other work being performed by or on
behalf of Landlord and other tenants at the Building.

 

3.                                       Preconstruction Activities.

 

A. 
(I) as to the 15th  Floor
Premises and the 19th  Floor
Premises, on or before July 30, 1999, and (II) as to the 20th Floor
Premises, on or before the delivery of occupancy of such premises to Tenant,
Tenant shall submit the following information and items to Landlord for
Landlord’s review 

 

 

and approval:

 

(i)                                  a detailed
construction schedule containing the major components of the Work and the
time required for each, including the scheduled commencement date of
construction of the Work, milestone dates and the estimated date of completion
of construction;

 

(ii)                                  an itemized statement
of the estimated construction cost, including permits and architectural and
engineering fees;

 

(iii)                            evidence satisfactory to
Landlord of Tenant’ s ability to pay the cost of the Work in excess of
Landlord’s Contribution for such portion of the Premises, if any, as and when
payments become due.

 

(iv)                              the names and addresses
of Tenant’s contractors (and the contractors’ subcontractors) to be engaged by
Tenant for the Work (“Tenant’s Contractors”).  
Landlord has the right to reasonably approve or reasonably disapprove
Tenant’s Contractors.  Tenant shall not
employ as Tenant’s Contractors any persons or entities disapproved by
Landlord.  If Landlord has affirmatively
approved only certain contractor(s) and/or subcontractor(s) from Tenant’s list,
Tenant shall employ as Tenant’s Contractors only those persons or entities so
approved.  Landlord may, at its
election, designate a list of approved contractors for performance of work
involving electrical, mechanical, plumbing or life-safety systems, from which
Tenant must select its contractors for such work;

 

(v)                              certified copies of
insurance policies or certificates of insurance as hereinafter described.  Tenant shall not permit Tenant’s Contractors
to commence work until the required insurance has been obtained and certified
copies of policies or certificates have been delivered to Landlord; and

 

(vi)                              the Plans for the Work,
which Plans shall be subject 

 

 

to Landlord’s approval in accordance with Paragraph 3(B) below.

 

Tenant will update such information and items
by notice to Landlord of any changes.

 

B.                                     As
used herein, the term “Plans” shall mean full and detailed architectural and
engineering plans and specifications covering the Work (including, without
limitation, architectural, mechanical and electrical working drawings for the
Work).  The Plans shall include the
minimum information shown on Attachment B attached hereto and incorporated
herein.  The Plans shall be subject to
Landlord’s approval and the approval of all local governmental authorities
requiring approval, if any.  Landlord
shall give its approval or disapproval (giving general reasons in case of
disapproval) of the Plans within five (5)
business days after receipt thereof by Landlord.  Landlord agrees not to unreasonably withhold
its approval of said Plans; provided, however, that Landlord shall not be
deemed to have acted unreasonably if it withholds it consent because, in
Landlord’s opinion: (i) the Work is likely to affect adversely Building
systems, the structure of the Building or the safety of the Building and its
occupants; (ii) the Work would increase Landlord’s ability to furnish services
to Tenant or other tenants; (iii) the Work would increase the cost of operating
the Building; (iv) the Work would violate any governmental laws, rules or
ordinances; (v) the Work contains or uses hazardous or toxic materials; (vi)
the Work would adversely affect the appearance of the Building; (vii) the Work
would adversely affect another tenant’s premises; or (viii) the Work is prohibited
by any mortgage on the Building.  The
foregoing reasons, however, shall not be exclusive of the reasons for which
Landlord may withhold consent, whether or not such other reasons are similar to
or dissimilar from the foregoing. 
Landlord shall cooperate with Tenant by discussing or reviewing
preliminary plans and specifications, at Tenant’s request prior to completion
of the full, final detailed Plans, in order to expedite preparation of the
final Plans and the approval process. 
If Landlord notifies Tenant that changes are required to the final Plans
submitted by Tenant, Tenant shall, within three (3) days thereafter, submit to
Landlord for its approval the Plans as amended in accordances with the changes
so required.  The Plans shall also be
revised, and the Work shall be changed, to incorporate any work 

 

 

required in the Premises by any local
governmental field inspector. 
Landlord’s approval of the Plans shall in no way be deemed to be
acceptance or approval of any element therein contained which is in violation
of any applicable laws, ordinances, regulations or other governmental
requirements.

 

C.  No
Work shall be undertaken or commenced by Tenant in the Premises until:

 

(i)                         the Plans
have been submitted to and approved by Landlord;

 

(ii)                      all necessary building permits
have been obtained by Tenant;

 

(iii)                   all required insurance coverages
have been obtained by Tenant. (Failure of Landlord to receive evidence of such
coverage upon commencement of the Work shall not waive Tenant’s obligations to
obtain such coverages.);

 

(iv)                  items required to be submitted to
Landlord prior to commencement of construction of the Work have been so
submitted and have been approved, where required; and

 

(v)                     Landlord has given written notice
that the Work can proceed, subject to such reasonable conditions as Landlord
may impose.

 

4.                                       Delays.  In the
event Tenant fails to deliver or deliver in sufficient and accurate detail the
information required under Paragraph 3 on or before the respective dates
specified in said Paragraph, or in the event Tenant, for any reason, fails to
complete the Work on or before the scheduled commencement date of the term of
the Lease for such portion of the Premises, Tenant shall be responsible for
rent and all other obligations as set forth in the Lease as to such portion of
the Premises from the scheduled date for the commencement date under the Fifth
Amendment, regardless of the degree of completion of the Work on such date, and
no such delay in completion of the Work shall relieve Tenant of any of its
obligations under the Lease.

 

5.                                       Charges and Fees.  Subject to Paragraph 9 below, Tenant shall
be responsible for all costs and expenses attributable to the Work.

 

 

6.                                       Change Orders.  All changes to the final Plans requested by
Tenant must be approved by Landlord in advance of the implementation of such
changes as part of the Work.  All delays
caused by Tenant-initiated change orders, including, without limitation, any
stoppage of work during the change order review process, are solely the responsibility
of Tenant and shall cause no delay in the commencement of the Lease or the
rental and other obligations therein set forth.

 

7.                                       Standards of Design and Construction
and Conditions of Tenant's Performance.  All work done in or upon the Premises by
Tenant shall be done according to the standards set forth in this Paragraph 7,
except as the same may be modified in the Plans approved by or on behalf of
Landlord and Tenant.

 

A.                                   Tenant’s Plans and
all design and construction of the Work shall comply with all applicable
statutes, ordinances, regulations, laws, codes and industry standards,
including, but not limited to, requirements of Landlord’s fire insurance
underwriters.  Approval by Landlord of
the Plans shall not constitute a waiver of this requirement or assumption by
Landlord of responsibility for compliance. 
Where several sets of the foregoing laws, codes and standards must be
met, the strictest shall apply where not prohibited by another law, code or
standard.

 

B.                                     Tenant shall
obtain, at its own cost and expense, all required building permits and, when
construction has been completed, shall obtain, at its own cost and expense, an
occupancy permit for the Premises, which permit shall be delivered to
Landlord.  Tenant’s failure to obtain
such permits shall not cause a delay in the commencement of the Lease or the
rental and other obligations therein set forth.

 

C.                                     Tenant’s
Contractors shall be licensed contractors, possessing good labor relations,
capable of performing quality workmanship and working in harmony with
Landlord’s contractors and subcontractors and with other contractors and
subcontractors in the Building.  All
work shall be coordinated with any other construction or other work in the
Building in order not to affect adversely construction work being performed by
or for Landlord or its tenants, it being understood that, in the event of any
conflict, Landlord and its contractors and subcontractors shall have priority
over Tenant and Tenant’s Contractors.

 

D.                                    Landlord shall have
the right, but not the obligation, to perform on behalf of and for the account
of Tenant, subject to reimbursement by Tenant, any work (i) which Landlord
deems to be necessary on an emergency basis, (ii) which pertains to structural 

 

 

components, building systems or the general utility systems for the
Building, (iii) which pertains to the erection of temporary safety barricades
or signs during construction, or (iv) which pertains to patching of the Work
and other work in the Building.

 

E.                                      Tenant shall use
only new, first-class materials in the Work, except where explicitly shown
otherwise in the Plans approved by Landlord and Tenant.  Tenant shall obtain warranties of at least
one (1) year’s duration from the completion of the Work against defects in
workmanship and materials on all work performed and equipment installed in the
Premises as part of the Work.

 

F.                                      Tenant and
Tenant’s Contractors, in performing work, shall not interfere with other
tenants and occupants of the Building. 
Tenant and Tenant’s Contractors shall make all efforts and take all
steps appropriate to construction activities undertaken in a fully occupied,
first-class office building so as not to interfere with the operation of the
Building and shall, in any event, comply with all reasonable rules and
regulations existing from time to time at the Building.  Tenant and Tenant’s Contractors shall take
all precautionary steps to minimize dust, noise and construction traffic and to
protect their facilities and the facilities of others affected by the Work and
to properly police same.  Construction
equipment and materials are to be kept within the Premises, and delivery and
loading of equipment and materials shall be done at such locations and at such
time as Landlord shall direct so as not to burden the construction or operation
of the Building.

 

G.                                     Landlord shall
have the right to order Tenant or any of Tenant’s Contractors who violate the
requirements imposed on Tenant or Tenant’s Contractors in performing work to
cease work and remove its equipment and employees from the Building.  No such action by Landlord shall delay the
commencement of the Lease or the rental and other obligations therein set
forth.

 

H.                                    Utility costs or
charges for any service (including HVAC, hoisting or freight elevator and the
like) to the Premises shall be the responsibility of Tenant from the date
Tenant is obligated to commence or commences the Work and shall be paid for by
Tenant at Landlord’s rates.  Tenant
shall apply and pay for all utility meters required.  Tenant shall pay for all support services provided by Landlord’s
contractors.  All use of freight
elevators is subject to scheduling by Landlord.  Tenant shall arrange and pay for removal of construction debris
and shall not place debris in the Building’s waste containers.

 

I.                                         Tenant shall
permit access to the Premises, and the Work shall be subject to inspection, by
Landlord and Landlord’s architects, 

 

 

engineers, contractors and other representatives at all times during
the period in which the Work is being constructed and installed and following
completion of the Work.

 

J.                                        Tenant shall
proceed with its work expeditiously, continuously and efficiently, and shall
complete the same as and when provided for in the Fifth Amendment and this
Workletter.  Tenant shall notify
Landlord upon completion of the Work and shall furnish Landlord and Landlord’s
title insurance company with such further documentation as may be necessary
under Paragraph 9 below.

 

K.                                    Tenant shall have
no authority to deviate from the Plans in performance of the Work, except as
authorized by Landlord and its designated representative in writing.  Tenant shall furnish to Landlord “as-built”
drawings of the Work within sixty (60) days after completion of the Work.

 

L.                                      Landlord shall
have the right to run utility lines, pipes, conduits, duct work and component
parts of all mechanical and electrical systems where necessary or desirable
through the Premises, to repair, alter, replace or remove the same, and to
require Tenant to install and maintain proper access panels thereto.

 

M.                                 Tenant shall impose on
and enforce all applicable terms of this Workletter Agreement against Tenant’s
architect and Tenant’s Contractors.

 

8.                                       Insurance and Indemnification.

 

A.                                   In addition to any
insurance which may be required under the Lease, Tenant shall secure, pay for and maintain or cause Tenant’s
Contractors to secure, pay for and maintain during the continuance of
construction and fixturing work within the Building or Premises, insurance in
the following minimum coverages and limits of liability:

 

(i)                         workers’ compensation and
employers’ liability insurance with limits of not less than $500,000.00, or
such higher amounts as may be required from time to time by any employee
benefit acts or other statutes applicable where the work is to be performed,
and in any event sufficient to protect Tenant’s Contractors from liability
under the aforementioned acts;

 

(ii)                      comprehensive or commercial
general liability insurance (including contractors’ protective liability) in an
amount not less than $2,000,000.00 per 

 

 

occurrence, whether involving bodily injury
liability (or death resulting therefrom) or property damage liability or a
combination thereof with a minimum aggregate limit of $2,000,000.00, and with
umbrella coverage with limits not less than $10,000,000.00.  Such insurance shall provide for explosion
and collapse, completed operations coverage and broad form blanket contractual
liability coverage and shall insure Tenant’s Contractors against any and all
claims for bodily injury, including death resulting therefrom, and damage to
the property of others and arising from its operations under the contracts
whether such operations are performed by Tenant’s Contractors or by anyone
directly or indirectly employed by any of them;

 

(iii)                   comprehensive automobile liability
insurance, including the ownership, maintenance and operation of any automotive
equipment, owned, hired or nonowned, in an amount not less than $500,000.00 for
each person in one accident and $1,000,000.00 for injuries sustained by two or
more persons in any one accident, and property damage liability in an amount
not less than $1,000,000.00 for each accident. 
Such insurance shall insure Tenant’s Contractors against any and all claims
for bodily injury, including death resulting therefrom, and damage to the
property of others arising from its operations under the contracts, whether
such operations are performed by Tenant’s Contractors or by anyone directly or
indirectly employed by any of them;

 

(iv)                  “all risk” builder’s risk insurance
upon the entire Work to the full insurable value thereof.  This insurance shall include the interests
of Landlord and Tenant (and their respective contractors and’ subcontractors of
any tier to the extent of any insurable interest therein) in the Work and shall
insure against the perils of fire and extended coverage, and shall include “all
risk” builder’s risk insurance for physical loss or damage including, without
duplication of coverage, theft, vandalism and malicious mischief.  If portions of the Work are stored off the
site of the Building or in transit to said site are not covered under said “all
risk” builder’s risk insurance, then Tenant shall effect and maintain 

 

 

similar property insurance on such portions of the Work.  Any loss insured under said “all risk”
builder’s risk insurance is to be adjusted with Landlord and Tenant and made
payable to Landlord as trustee for the insureds, as their interests may appear.

 

All policies (except the workers compensation policy) shall be endorsed
to include as additional insured parties Landlord and its beneficiaries, their
partners, directors, officers, employees and agents, Landlord’s contractors,
Landlord’s architects, and such additional persons as Landlord may designate.  The waiver of subrogation provisions
contained in the Lease shall apply to all insurance policies (except the
workers’ compensation policy) to be obtained by Tenant pursuant to this
Paragraph.   The insurance policy
endorsements shall also provide that all additional insured parties shall be
given thirty (30) days’ prior written notice of any reduction, cancellation or
nonrenewal of coverage (except that ten (10) days’ notice shall be sufficient
in the case of cancellation for nonpayment of premium) and shall provide that the
insurance coverage afforded to the additional insured parties thereunder shall
be primary to any insurance carried independently by said additional insured
parties.   Additionally, where
applicable, each policy shall contain a cross-liability and severability of
interest clause.

 

B.                                     Without limitation
of the indemnification provisions contained in the Lease, to the fullest extent
permitted by law Tenant agrees to indemnify, protect, defend and hold harmless
Landlord, Landlord’s contractors and Landlord’s architects and their partners,
directors, officers, employees and agents, from and against all claims,
liabilities, losses, damages and expenses of whatever nature arising out of or
in connection with the Work or the entry of Tenant or Tenant’s Contractors into
the Building and the Premises, including, without limitation, mechanics’ liens
or the cost of any repairs to the Premises or Building necessitated by
activities of Tenant or Tenant’s Contractors and bodily injury to persons
(including, to the maximum extent provided by law, claims arising under the
Illinois Structural Work Act) or damage to the property of Tenant, its
employees, agents, invitees or licensees or others.  It is understood and agreed that the foregoing indemnity shall be
in addition to the insurance requirements set forth above and shall not be in
discharge of or in substitution for same or any other indemnity or insurance
provision of the Lease.

 

9.                                       Landlord’s Contribution; Excess
Amounts.

 

A.                                   Upon completion of
the Work, Tenant shall furnish Landlord with final waivers of Liens and
contractors’ affidavits, in such form as may be required by Landlord, from all
parties performing labor or supplying materials or services in connection with
the Work showing that all of said parties have been compensated in full and
waiving all liens in connection with the Premises and Building.  Tenant shall submit to 

 

 

Landlord a detailed breakdown of Tenant’s total construction costs,
together with such evidence of payment as is reasonably satisfactory to
Landlord.

 

B.                                     Upon completion of
the Work and Tenant’s satisfaction of all requirements set forth herein,
Landlord promptly shall make a dollar contribution in the amount attributable
to the portion of the Premises so completed, as specified in the Fifth
Amendment (“Landlord’s Contribution”) (each of which is Fourteen Dollars
($14.00) per square foot of rentable area of such portion of the Premises) for
application to the extent thereof to the cost of the Work.  If the cost of the Work exceeds Landlord’s
Contribution, Tenant solely shall have responsibility for the payment of such
excess cost.  If the cost of the Work is
less than Landlord’s Contribution, Tenant shall be entitled to an offsetting
credit against the first installment(s) of Base Rent due under the Lease for
the applicable portion of the Premises until such excess amount has been
utilized.  Notwithstanding anything
herein to the contrary, Landlord may deduct from Landlord’s Contribution any
amounts due to Landlord or its architects or engineers under this Workletter,
if any.

 

10.                                 Miscellaneous.

 

A.                                   Except as expressly
set forth herein or in the Lease, Landlord has no agreement with Tenant and has
no obligation to do any work with respect to the Premises.

 

B.                                     If the Plans for
the Work require the construction and installation of more fire hose cabinets
or telephone/electrical closets than the number regularly provided by Landlord
in the core of the Building in which the Premises are located, then Tenant
agrees to pay all costs and expenses arising from the construction and
installation of such additional fire hose cabinets or telephone/electrical
closets.

 

C.                                     Time is of the
essence under this Workletter.

 

D.                                    Any person signing
this Workletter on behalf of Landlord and/or Tenant warrants and represents he
has authority to do so.

 

E.                                      If Tenant fails
to make any payment relating to the Work as required hereunder, Landlord, at
its option, may complete the Work pursuant to the approved Plans and continue
to hold Tenant liable for the costs thereof and all other costs due to
Landlord.  Tenant’s failure to pay any
amounts owed by Tenant hereunder when due or Tenant's failure to perform its
obligations hereunder shall also constitute a default under the Lease, and Landlord
shall have all the rights and remedies granted to 

 

 

Landlord under the Lease for nonpayment of any amounts owed thereunder
or failure by Tenant to perform its obligations thereunder.

 

F.                                      Notices under
this Workletter shall be given in the same manner as under the Lease.

 

G.                                     The liability of
Landlord hereunder or under any amendment hereto or any instrument or document
executed in connection herewith (including, without limitation, the Lease)
shall be limited to and enforceable solely against Landlords interest in the
Building.

 

H.                                    The headings set
forth herein are for convenience only.

 

I.                                         This
Workletter sets forth the entire agreement of Tenant and Landlord regarding the
Work.  This Workletter may only be
amended if in writing and duly executed by both Landlord and Tenant.

 

 

HARTFORD
PLAZA

100-150 SOUTH WACKER DRIVE

CHICAGO, ILLINOIS 60606

 

STORAGE SPACE LEASE AGREEMENT

 

THIS
STORAGE SPACE LEASE AGREEMENT (Storage Lease”) is made
arid entered into as of the1st day of July, 1999 by and between LINCOLN-CARLYLE
HARTFORD, L.L.C., a Delaware limited liability company (“Landlord”)
having an office at 150 South Wacker Drive, Chicago, Illinois 60606, and  TOWNSEND ANALYTICS, LTD., an Illinois
corporation (“Tenant”).

 

1.                                       Landlord,
as Landlord, and Tenant, as Tenant entered into that certain lease, as amended
(“Main Lease”) of certain premises (“Main Premises”) located in Suite 2040 in
the building commonly known as 100 South Wacker Drive, Chicago, Illinois for
the Term commencing August 15, 1996 and ending August 31, 2003.

 

2.                                       Landlord hereby leases
to Tenant and Tenant hereby leases from Landlord the premises (“Storage
Premises”) identified as Suite 1943 on the 19th floor containing
approximately 581 rentable square feet in the building (“Building”) commonly
known as 100 South Wacker Drive, Chicago, Illinois, for the term (“Term”)
commencing on July 1, 1999 and terminating on August 31, 2006.

 

3.                                       The Storage
Premises shall be used only for the storage of such of Tenant’s own files,
records, furniture, furnishings, equipment and other items as shall be
ancillary to Tenant’s use of the Main Premises authorized in the Main Lease,
The Storage Premises shall not be used in any way which is inconsistent with
any of the Rules and Regulations attached to or issued pursuant to the Main
Lease or any reasonable other Rule or Regulation issued by Landlord from time
to time with respect to the use of storage spaces in the Building generally,
interferes with the rights of other tenants or occupants of the Building,
increases the cost of or invalidates any insurance, or exceeds the load bearing
or other capacity of the Storage Premises or the Building’s facilities.

 

4.                                       Tenant agrees to
pay Landlord for the Storage Premises rent (“Annual Rent”) by paying
one-twelfth thereof (the “Monthly Installment of Rent”) on the first day of
each month of the term hereof as follows:

 

	
  Period

  	
   

  	
  Monthly

  Installment

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  07/01/99 - 06/30/00

  	
   

  	
  $

  	
  629.42

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  07/01/00 - 06/30/01

  	
   

  	
  $

  	
  653.63

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  07/01/01 - 06/30/02

  	
   

  	
  $

  	
  677.83

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  07/01/02 - 06/30/03

  	
   

  	
  $

  	
  702.04

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  07/01/03 - 08/31/04

  	
   

  	
  $

  	
  726.25

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  09/01/04-08/31/05

  	
   

  	
  $

  	
  750.46

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  09/01/05 - 08/31/06

  	
   

  	
  $

  	
  774.67

  	
   

  

 

 

Any rent or other sum due to be paid by Tenant hereunder which is not
paid when due shall bear interest and/or late charges at the same rate as provided
in Article 3 of the Main Lease for a sum due under the Main Lease and not
paid when due.

 

5.                                       Tenant
acknowledges and agrees that in order to make the storage space in Suite 1943
available for lease to Tenant, Landlord needed to reduce the storage space in
Suite 1945 presently leased to another tenant, RREEF Management Company
(“RREEF”), and to make additional substitution storage space available for
lease to RREEF.  Specifically, in
connection with such reduction and substitution, Landlord agreed, at its cost
and expense, to: (i) erect a demising wall in Suite 1945 to reconfigure that
Suite as shown on the floor plan attached hereto as Exhibit 1; (ii) arrange for
the electrical lines in Suite 1945 to be redesignated to reflect the
reconfiguration of Suite 1945; and (iii) remove a demising wall in Suite 2330
to reconfigure that Suite as shown on the floor plan attached hereto as Exhibit
2.  Tenant agrees to reimburse Landlord
as additional rent hereunder for Landlord’s costs and expenses in connection with
items (i) through (iii) of the preceding sentence.  Tenant shall pay Landlord within ten (10) days of receipt of an
invoice from Landlord regarding such matters.

 

6.                                       Except
as provided in items (i) and (ii) to Section 5  above, Tenant
shall accept the Storage Premises “as is”.  Tenant shall not make any
alterations, additions or improvements to or modifications of the  Storage
Premises without Landlord's written consent first obtained, but shall, at all
times during the Term, keep the Storage Premises in good condition and repair,
excepting damage thereto by fire, earthquake, act of God or the elements, and
free of all claims in the nature of claims for mechanics’ liens arising out of
any work or materials procured by Tenant, shall comply with all governmental
laws, ordinances and regulations applicable to the use and its occupancy of the
Storage Premises, shall not suffer or permit any waste or disreputable,
damaging or immoral activity in or about the Storage Premises and shall
promptly comply with all governmental orders and directives for the corrective
prevention and abatement of any violations or nuisances in or upon, or
connected with the Premises, and at the end of the Term return the Storage
Premises in the condition herein required all at Tenant’s sole expense.

 

7.                                       Landlord
shall maintain the structural elements and the HVAC and electrical systems of
the Building in good order and repair but is not otherwise required to make any
repairs or replacements of the Storage Premises or any part thereof, or to 

 

 

provide any utilities or services for the Storage Premises beyond such
as are at such time being provided by Landlord for similar storage spaces in
the Building.

 

8.                                       Tenant
shall have no right to, and shall not, assign or pledge this Storage Lease, or
sublet or permit the use or occupancy of all or any part of the Storage
Premises by anyone other than Tenant, either voluntarily or by operation of
law; provided however that Landlord acknowledges that Tenant may elect, from
time to time, to sublease portions of the Storage Premises to Terra Nova
Trading, L.L.C.  and/or Archipelago
Holdings, L.L.C., each of which is an affiliate of the principals of Tenant, or
their respective subsidiaries or affiliates upon notice to, but without the
approval of Landlord.

 

9.                                       In
addition to those mentioned elsewhere herein, the following Articles of the
Main Lease, as presently in effect, are hereby incorporated in and made a part
of this Storage Lease to all intents and purposes as though set forth at length
herein:

 

8.                                       LIENS

9.                                       ENVIRONMENTAL
MATTERS

11.                                 INDEMNIFICATION

12.                                 INSURANCE

13.                                 WAIVER
OF SUBROGATION

15.                                 HOLDING
OVER

16.                                 SUBORDINATION

17.                                 RULES
AND REGULATIONS

18                                    REENTRY
BY LANDLORD, PERFORMANCE OF TENANT’S OBLIGATIONS

19.                                 DEFAULT

20.                                 REMEDIES

21.                                 TENANT’S
BANKRUPTCY OR INSOLVENCY

22.                                 QUIET
ENJOYMENT

23.                                 DAMAGE
BY FIRE, ETC.

24.                                 EMINENT
DOMAIN

25.                                 SALE
BY LANDLORD

26.                                 ESTOPPEL
CERTIFICATE

27.                                 SURRENDER
OF PREMISES

28.                                 NOTICES

29.                                 TAXES
PAYABLE BY TENANT

30.                                 LANDLORD’S
LIEN

32.                                 REMOVAL
OF TENANT’S PROPERTY

33.                                 DEFINED
TERMS AND HEADINGS

34.                                 TENANT’S
AUTHORITY

35.                                 ENFORCEABILITY

37.                                 TIME
AND APPLICABLE LAW

38.                                 SUCCESSORS
AND ASSIGNS

39.                                 ENTIRE
AGREEMENT

40.                                 EXAMINATION
NOT OPTION

41.                                 RECORDATION

44.                                 TERMINATION
OPTION

45.                                 OPTION
TO RENEW

 

As so incorporated said Articles as presently
existing shall be unaffected by and remain in full force and effect
notwithstanding any amendment or modification of the Main Lease and shall apply
to this Storage Lease, the Storage Premises, and the Annual and Monthly
Installments of Rent to be paid under this Storage Lease in the same way as
said provisions presently apply to the Main Lease, the Premises leased
thereunder and the Annual and Monthly Installments of Rent to be paid under the
Main Lease.

 

10.                                 Landlord
reserves the right to substitute for the Storage Premises other space
(“Substitute Space”) situated within the 100-150 South Wacker Drive Buildings
and having a storage capacity and a physical condition at least equal to that
of the Storage Premises.  This right of
substitution shall be exercised only by written notice given to Tenant by
Landlord describing the Substitute Space and specifying an Effective Date for 

 

 

said substitution at least sixty (60) days after the date of said
notice.   Notwithstanding the foregoing
notice from Landlord, Tenant
shall then have the right to instead terminate this Storage Lease as of the
Effective Date by written notice given to Landlord within thirty (30) days after the aforesaid notice
from Landlord shall have been given to Tenant. 
Absent such notice timely given by Tenant, on the Effective Date the
Substitute Space shall for all the purposes hereof become and thereafter be the
Storage Premises in lieu of the Storage Premises theretofore specified, and
Landlord shall pay or reimburse to Tenant all the reasonable costs and expenses
of preparing the Substitute Space for Tenants occupancy and of moving all of
the property of Tenant situated in the original Storage Premises to the
Substitute Space.

 

11.                                 Redress
for any claims against Landlord under this Storage Lease shall only be made
against Landlord to the extent of Landlord's interest in the property to which
the leased premises are a part.  The
obligations of Landlord under this Storage Lease shall not be personally
binding on, nor shall any resort be had to the private properties of, any of
its trustees or board of directors and officers, as the case may be, the
general partners thereof or any beneficiaries stockholders, employees or agents
of Landlord, or the investment manager.

 

IN
WITNESS WHEREOF, Landlord and tenant have executed
this Storage Space Lease Agreement as of the day and year first written above.

 

 

	
  TENANT:

  	
  LANDLORD:

  
	
   

  	
   

  	
   

  
	
  TOWNSEND ANALYTICS, LTD.,

  	
  LINCOLN-CARLYLE HARTFORD, L.L.C.,

  
	
  an Illinois corporation 

  	
  a Delaware limited liability company

  
	
   

  	
   

  
	
  By:

  	
    /s/MarrGwen Townsend

  	
   

  	
  By:  Lincoln Hartford, LLC, a Delaware

  
	
   

  	
  limited liability company, Managing Member

  
	
   

  	
   

  
	
  Its:

  	
      Vice President

  	
   

  	
  By: Lincoln Investors Group 3,
  Inc., a

  
	
   

  	
  Texas corporation, Managing Member

  
	
   

  	
  By:

  	
      /s/John B. Grissim

  	
   

  
	
   

  	
  Name:

  	
     John B. Grissim

  	
   

  
	
   

  	
   

  	
  Authorized Agent

  

 

 

EXHIBIT
1

 

[Graphics]

 

 

EXHIBIT
2

 

[Graphics]

 

 

SIXTH AMENDMENT TO LEASE

 

THIS SIXTH AMENDMENT TO LEASE (“Sixth Amendment”) is made as of the 27th  day of August, 1999, by and among
LINCOLN-CARLYLE HARTFORD, L.L.C., a Delaware limited liability company
(“Landlord”), and TOWNSEND ANALYTICS, LTD., an Illinois corporation (“Tenant”).

 

WITNESSETH:

 

A.                                   Landlord’s
predecessor-in-interest and Tenant entered into a certain lease dated as of
June 3, 1996, as amended by a letter agreement dated August 28, 1996
and by Amendments dated as of December 20, 1996, July 17, 1997,
July 31, 1998, November 12, 1998 and July 1, 1999 (said
July 1, 1999 Amendment being referred to herein as the “Fifth Amendment”)
(the original Lease, as amended by such letter agreement and Amendments is
referred to herein as the “Lease”), whereby Landlord’s predecessor-in-interest
or Landlord leased to Tenant certain premises consisting of Suite Nos. 1550
(11,828 rental square feet), 1925 (9,393 rental square feet), 2000 (4,215  rental square feet), 2040 (9,939
rentable square feet), 2012 (3,241 rentable square feet), 2020 (2,852 rentable
square feet) and 2015 (3,010 rentable square feet) (collectively, the “Existing
Premises”) on the fifteen (15th), nineteenth (19th) and twentieth
(20th) floor of the building located at 100 South Wacker Drive,
Chicago, Illinois 60606 (the “Building”) for a term expiring on August 31,
2006.  Landlord has also entered into
various Storage Space Lease Agreements dated October 13, 1997 (Suite
2045-587 rentable square feet), December 15, 1997 (Suite
2017-120 rentable square feet), January 14, 1998 (Suite 2023-318 rentable
square feet), April 30, 1999 (Suite 65-846 rentable square feet) and
July 1, 1999 (suite 1943 - 581 rental square feet) (collectively, the
“Storage Agreements”).

 

B.                                     Landlord and
Tenant desire to amend the Lease herein to provide for the expansion of the
Premises to include additional space consisting of 2,033 rental square feet of
space located on the 20th Floor of the Building depicted on Exhibit
A attached hereto (the “Suite 2010 Premises”) and to modify certain other
provisions as set forth herein but not otherwise.

 

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

 

1.                                       Subject to the
provisions of Section 5  below, Landlord hereby leases to
Tenant and Tenant hereby leases from Landlord, Suite 2010, consisting of 2,033
rentable square feet as outlined on Exhibit A hereto and commonly known as
Suite 2010 for a term commencing as set forth below and terminating on
August 31, 2006 (subject to the renewal rights of Tenant set forth in the
Lease) (the “Suite 2010 Term”). Upon delivery of the Suite 2010 Premises to
Tenant as provided below, such space shall become part of the “Premises” under
the Lease.

 

2.                                       Base Rent
payable for the Suite 2010 Premises during the Suite 2010

 

 

Term shall be as set forth in Exhibit B to this Sixth Amendment. Said
Base Rent, together with all Additional Rent payable under the Lease, shall be
payable in advance on the first day of each calendar month. Base Rent for any
partial month shall be prorated on the basis of the number of days of such
calendar month falling within the Suite 2010 Term.

 

3.                                       Tenant
shall complete any and all work required to be performed in the Suite 2010
Premises for occupancy thereof by Tenant (the “Work”) at Tenant’s sole cost and
expense (except for Landlord’s Contribution, defined below). The Work shall be
designed and performed in accordance with the Workletter attached as Exhibit C
to the Fifth Amendment (the “Workletter”), except that Tenant hereby agrees to
cause to be prepared by an architect or engineer acceptable to Landlord all
plans and drawings associated with the Work and to submit all “Plans” (as
defined in said Workletter) for the Work to Landlord for prior approval.  Landlord shall have a period of five (5) business days to review and
provide comments to the Plans. Rent for the Suite 2010 Premises shall commence
upon the earlier to occur of (a) the date on which substantial completion of
the Work associated with the Suite 2010 Premises occurs or is deemed to occur
as specified in the Workletter, or (b) the expiration of eight (8) weeks
following the date on which Landlord delivers occupancy of the Suite 2010
Premises to Tenant for performance of the Work (such earlier date being the
“Suite 2010 Commencement Date”); provided, however, that in the event the nature
of the Work is such that Landlord determines that abatement of any
asbestos-containing materials is required, Landlord shall perform such
abatement (a) as expeditiously as is commercially reasonable, and (b) at
Landlord's sole cost and expense, and the time period Landlord is required to
occupy the Suite 2010 Premises after commencement of the Work to perform such
abatement shall not be included in the eight (8) week period described above.
Landlord hereby agrees to pay Twenty Eight Thousand Four Hundred Sixty Two and
no/100 Dollars ($28,462.00) (based on $14.00 per square foot) for the Work to
be performed in the Suite 2010
Space, (“Landlord’s Suite 2010 Contribution”), which shall be used for the cost
and expense of  the Work and
architectural and space planning fees associated therewith. In the event less
than all of Landlord’s Suite 2010 Contribution is paid in connection with the
Work, any unused portion thereof shall be credited to Tenant against the first
payment(s) of Base Rent payable for the Suite 2010 Premises.

 

4.                                       As
of the date Rent commences for  the Suite 2010 Premises, Tenant’s
Proportionate Share under the Lease will increase by 0.397%.

 

5.                                       Notwithstanding
anything to the contrary set forth above, the foregoing rights and obligations
of Landlord and Tenant with respect to the Suite 2010 Premises are subject to
(a) the current tenant occupying Suite 2008 (1,500 rentable square feet of
space) vacating such space; (b) Landlord’s ability to terminate the lease of
the current tenant (American Trading Group, L.P.) of Suite 2010 (533 rentable
square feet of space) in the Building (the “American Trading Lease”) on terms
reasonably acceptable to Landlord and American Trading Group, L.P. and (c)
Tenant’s agreement, and furnishing to Landlord of adequate security for
Tenant’s commitment, to pay any and all termination payments required to be
paid to such tenant in connection with Landlord’s termination of the American
Trading Lease, to the extent not in excess of $25,000. It is currently
anticipated that such termination of the American Trading Lease will require
payments of $12,500 upon execution of a Lease Termination Agreement between
Landlord and American 

 

 

Trading Group, L.P and $12,500 upon vacation and surrender of its
space. Accordingly, for purposes of the foregoing, “adequate security” will be
deemed to mean (i) deposit by Tenant with Landlord of a check payable to
American Trading Group, L.P. representing good funds in the amount of
$12,500.00 (the “Initial Deposit”) upon execution of this Sixth Amendment, and
(ii) Tenant’s agreement to tender to American Trading Group, L.P. the remaining
required termination payment (the “Final Deposit”, which shall not be in excess
of an additional $12,500) prior to the date required to be paid by Landlord to
American Trading Group, L.P. In the event Tenant fails to pay the Final Deposit
within five (5) days following
written demand from Landlord, Landlord shall be entitled immediately to reduce
Landlord’s Suite 2010 Contribution by any amount unpaid by Tenant. Landlord
covenants to use the Initial Deposit and the Final Deposit to make required
termination payments as described above and to refund the Initial Deposit to
Tenant if it is unable to secure a Lease Termination Agreement with American
Trading Group, L.P. on terms consistent with the foregoing prior to
August 27, 1999.

 

6.                                       Submission.
Submission of this Sixth Amendment by Landlord or Landlord's agent, or their
respective agents or representatives, to Tenant for examination and/or
execution shall not in any manner bind Landlord and no obligations on Landlord
shall arise under this Sixth Amendment unless and until this Sixth Amendment is
fully signed and delivered by Landlord and Tenant.

 

7.                                       Binding
Effect; Conflict. The Lease, as amended hereby, shall continue
in full force and effect, subject to the terms and provisions thereof and
hereof.  In the event of any conflict
between the terms of the Lease and the terms of this Sixth Amendment, the terms
of this Sixth Amendment shall control. 
This Sixth Amendment shall be binding upon and inure to the benefit of
Landlord, Tenant and their respective successors and permitted assigns.

 

8.                                       Consent to Subleases.  Landlord
acknowledges that Tenant may elect, from and after the date Tenant has
commenced paying Rent with respect to the Suite 2010 Premises, to sublease
portions of the Suite 2010 Premises to Terra Nova Trading, L.L.C. and/or
Archipelago Holdings, L.L.C., each of which is an affiliate of the principals
of Tenant, or their respective subsidiaries or affiliates. As set forth in Part
3, paragraph 3 of the Fifth Amendment, a sublease or subleases of not more than
fifty percent (50%) of the
aggregate square footage of the Premises (including the Suite 2010 Premises) to
such entities shall be permitted without the consent of, but with not less than
thirty (30) days’ prior written notice to, Landlord.

 

9.                                       Limitation
of Liability.  Neither
Landlord nor any officer, director, member or employee of Landlord nor any
owner of the Building, whether disclosed or undisclosed, shall have any
personal liability with respect to any of the provisions of the Lease, as
hereby amended, or the Premises, and if Landlord is in breach or default with
respect to Landlord’s obligations under the Lease, as hereby amended, or otherwise,
Tenant shall look solely to the equity interest of Landlord in the Building for
the satisfaction of Tenant’s remedies or judgments.

 

IN
WITNESS WHEREOF, this Sixth Amendment is executed as
of the day and year aforesaid.

 

 

	
  TENANT:

  	
  LANDLORD:

  
	
   

  	
   

  
	
  TOWNSEND ANALYTICS, LTD,

  	
  LINCOLN-CARLYLE
  HARTFORD, L.L.C.,

  
	
  an Illinois corporation

  	
  a Delaware limited liability company

  
	
   

  	
   

  
	
   

  	
  By:

  	
  Lincoln Investors Group 3, Inc.,

  a Texas corporation,

  Managing Member

  
	
   

  	
   

  
	
   

  	
  By:

  	
  Lincoln Hartford,
  LLC, a Delaware

  Limited liability company, Managing

  
	
  By:

  	
  /s/MarrGwen Townsend

  	
   

  	
   

  	
  Member

  
	
  Its:

  	
  Vice President

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/John B. Grissim

  	
   

  
	
   

  	
  Name:

  	
  John Grissim

  	
   

  
	
   

  	
   

  	
  Authorized Agent

  	
   

  
										

 

 

EXHIBITS

 

	
  A Depiction of Suite 2010 Premises

  	
   

  
	
   

  	
   

  
	
  B
  Suite 2010 Base Rent

  	
   

  
	
   

  	
   

  
	
  [Graphics]

  	
   

  

 

 

EXHIBIT B TO SIXTH
AMENDMENT

 

Suite
2010 Premises Base Rent

 

	
  Period of Lease

  	
   

  	
  Annual
  Base Rent

  	
   

  	
  Monthly
  Base Rent

  	
   

  	
  Per Square
  Foot 

  Annual Rent

  	
   

  
	
  ***         -
  08/31/00

  	
   

  	
  $

  	
  37,102.25

  	
   

  	
  $

  	
  3,091.85

  	
   

  	
  $

  	
  18.250

  	
   

  
	
  09/01/00 - 08/31/01

  	
   

  	
  $

  	
  38,215.32

  	
   

  	
  $

  	
  3,184.61

  	
   

  	
  $

  	
  18.797

  	
   

  
	
  09/01/01 - 08/31/02

  	
   

  	
  $

  	
  39,361.78

  	
   

  	
  $

  	
  3,280.15

  	
   

  	
  $

  	
  19.361

  	
   

  
	
  09/01/02 - 08/31/03

  	
   

  	
  $

  	
  40,542.63

  	
   

  	
  $

  	
  3,378.55

  	
   

  	
  $

  	
  19.942

  	
   

  
	
  09/01/03 - 08/31/04

  	
   

  	
  $

  	
  41,758.91

  	
   

  	
  $

  	
  3,479.91

  	
   

  	
  $

  	
  19.942

  	
   

  
	
  09/01/04 - 08/31/05

  	
   

  	
  $

  	
  43,011.68

  	
   

  	
  $

  	
  3,584.31

  	
   

  	
  $

  	
  21.157

  	
   

  
	
  09/01/05 - 08/31/06

  	
   

  	
  $

  	
  44,302.03

  	
   

  	
  $

  	
  3,691.84

  	
   

  	
  $

  	
  21.791

  	
   

  

 

***
- Rent Commencement Date for the Suite 2010 Premises

 

 

SEVENTH AMENDMENT TO LEASE

 

[***]

 

*** The Seventh Amendment to Lease has been omitted in its entirety and
filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.

 

 

EIGHTH AMENDMENT
TO LEASE

 

THIS EIGHTH AMENDMENT TO LEASE (“Eighth Amendment”)
is made as of the 1st day of May, 2000, by and among LINCOLN-CARLYLE HARTFORD, L.L.C., a Delaware limited liability
company (“Landlord”), and TOWNSEND ANALYTICS,
LTD., an Illinois corporation (“Tenant”).

 

WITNESS ETH:

 

A.                                   Landlord’s
predecessor-in-interest and Tenant entered into a certain lease dated as of
June 3, 1996, as amended by a letter agreement dated August 28, 1996
and by Amendments dated as of December 20, 1996, July 17, 1997,
July 31, 1998, November 12, 1998, July 1, 1999, August 27,
1999 and September 10, 1999 (the original Lease, as amended by such letter
agreement and Amendments is referred to herein as the “Lease”), whereby
Landlord’s predecessor-in-interest or Landlord leased to Tenant certain
premises consisting of Suite Nos.  1550
(11,828 rentable square feet), 1925 (9,393  rentable square feet), 2000 (4,215 rental square feet), 2040 (9,939  rentable
square feet), 2012 (3,241 rentable square feet), 2020 (2,852 rentable square
feet), 2015 (3,010 rentable square feet), 2010 (2,033 rentable square feet) and
1900 (6,972 rentable square feet) (collectively, the “Existing Premises”) on
the fifteen (15th)  nineteenth (19th)  and
twentieth (20th)  floor of the building located at
100 South Wacker Drive, Chicago, Illinois 60606 (the “Building”) for a term
expiring on August 31, 2006.

 

B.                                     Landlord
and Tenant desire to amend the Lease herein to provide for the expansion of the
Existing Premises to include additional space consisting of 4,474 rentable
square feet of space located on the 17th Floor of the Building
depicted on Exhibit A attached hereto (the “Suite 1720 Premises”) and to modify
certain other provisions as set forth herein but not otherwise.

 

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

 

1.  Lease;  Term.  Landlord hereby leases to Tenant
and Tenant hereby leases from Landlord, Suite 1720, consisting of 4,474  rentable
square feet as outlined on Exhibit A hereto and commonly known as Suite 1720
for a term commencing on May 1, 2000 (the “Suite 1720 Term Commencement Date”)
and terminating on August 31, 2006 (subject to the renewal rights of
Tenant set forth in the Lease) (the “Suite 1720 Term”).  Upon delivery of the Suite 1720 Premises to
Tenant as provided below, such space shall become part of the “Premises” under
the Lease.

 

2.  Rent. 
Base Rent payable for the Suite 1720 Premises during the Suite 1720
Term shall be as set forth in Exhibit B to this Eighth Amendment.  Said Base Rent, together with all Additional
Rent payable under the Lease, shall be payable in advance on the first day of
each calendar month.  Base Rent for any
partial month shall be prorated on the basis of the number of days of such
calendar month falling within the Suite 1720 Term.

 

3.  Condition of Premises.  Tenant’s execution and delivery of this
Eighth Amendment shall be 

 

 

conclusive evidence that the Existing Premises and the Suite 1720
Premises were in good order and satisfactory condition as of the date
hereof.  No agreement of Landlord to
alter, remodel, decorate, clean or improve the Existing Premises, the  Suite
1720 Premises or the Building and no representation or warranty regarding the
condition of the Existing Premises, the Suite 1720 Premises or the Building has
been made by or on behalf of Landlord to Tenant under or by reason of this
Eighth Amendment.  Tenant shall accept
the Suite 1720 Premises in its “as is” condition.

 

4.  Adjustment in Proportionate Share.  As of the Suite 1720 Rent Commencement
Date, Tenant’s Proportionate Share
under the  Lease will
increase by 0.862%.

 

5.  Furniture. 
As  further consideration for Tenant’s execution of this
Eighth Amendment, Landlord agrees to convey to Tenant the furniture currently
located in the Suite 1720 Premises (the “Furniture”) in its then “as is”
condition, such conveyance to be effective as of the Suite 1720 Term
Commencement Date.  Landlord represents
and warrants to Tenant that Landlord has good title to the Furniture and that
the Furniture is not subject to any liens or encumbrances.  Landlord hereby disclaims any warranty of
merchantability or fitness for a particular purpose as to the Furniture.  This Eighth Amendment shall be deemed a bill
of sale for the Furniture.

 

6.  Real Estate Broker.  Tenant represents that, except for Lincoln
Property Company Commercial, Inc. (“Broker”), Tenant has not dealt with any
real estate broker, salesperson or finder in connection with this Eighth
Amendment and no such person initiated or participated in the negotiation of
this Eighth Amendment or is entitled to any fee or commission in connection
herewith.  Tenant hereby agrees to
indemnify and hold Landlord, its property manager and their respective agents
and employees harmless from and against any and all damages, liabilities,
claims, actions, costs and expenses (including attorneys’ fees) arising from
either (i) any claims or demands of any broker, other than Broker, salesperson
or finder for any fee or commission alleged to be due such broker, salesperson
or finder in connection with this Eighth Amendment or (ii) a claim of, or right
to, any lien under the Statutes of the State of Illinois relating to real
estate broker liens with respect to any such broker, salesperson or finder
retained by Tenant.

 

7.  Submission.  Submission of this Eighth Amendment by
Landlord or Landlord’s agent, or their respective agents or representatives, to
Tenant for examination and/or execution shall not in any manner bind Landlord
and no obligations on Landlord shall arise under this Eighth Amendment unless
and until this Eighth Amendment is fully signed and delivered by Landlord and
Tenant.

 

8.  Binding Effect; Conflict.  The Lease, as amended hereby, shall continue
in full force and effect, subject to the terms and provisions thereof and
hereof. In the event of any conflict between the terms of the Lease and the
terms of this Eighth Amendment, the terms of this Eighth Amendment shall
control.  This Eighth Amendment shall be
binding upon and inure to the benefit of Landlord, Tenant and their respective
successors and permitted assigns.

 

9.  Consent to Subleases.  Landlord acknowledges that Tenant may elect,
from and after the date Tenant has commenced paying Rent with respect to the
Suite 1720 Premises, to sublease portions of the Suite 1720 Premises to Terra
Nova Trading, L.L.C. and/or Archipelago Holdings, 

 

 

L.L.C., each of which is an affiliate of the principals of Tenant, or
their respective subsidiaries or affiliates. As set forth in Part 3, Paragraph
3 of the Fifth Amendment, a sublease or subleases of not more than fifty
percent (50%) of the aggregate
square footage of the Premises (including the Suite 1720 Premises) to such
entities shall be permitted without the consent of, but with not less than
thirty (30) days’ prior written notice to, Landlord.

 

9.  Limitation
of Liability.  Neither
Landlord nor any officer, director, member or employee of Landlord nor any
owner of the Building, whether disclosed or undisclosed, shall have any
personal liability with respect to any of the provisions of the Lease, as
hereby amended, or the Premises, and if Landlord is in breach or default with
respect to Landlord’s obligations under the Lease, as hereby amended, or
otherwise, Tenant shall look solely to the equity interest of Landlord in the
Building for the satisfaction of Tenant’s remedies or judgments.

 

IN
WITNESS WHEREOF, this
Eighth Amendment is executed as of the day and year aforesaid.

 

 

	
  TENANT:

  	
  LANDLORD:

  
	
   

  	
   

  
	
  TOWNSEND ANALYTICS,
  LTD.,

  	
  LINCOLN-CARLYLE HARTFORD, L.L.C.,

  
	
  an Illinois corporation

  	
  a Delaware limited liability company

  
	
   

  	
   

  
	
  By:

  	
    /s/MarrGwen Townsend

  	
   

  	
  By: Lincoln Hartford, LLC, a Delaware

  
	
   

  	
  limited company, Managing Member

  
	
   

  	
   

  
	
  Its:

  	
    Vice President

  	
   

  	
  By:  Lincoln Investors Group 3, Inc., a

  
	
   

  	
  Texas corporation, Managing Member

  
	
   

  	
  By:

  	
     /s/John B. Grissim

  	
   

  
	
   

  	
  Name:

  	
    John B. Grissim

  	
   

  
	
   

  	
   

  	
  Authorized Agent

  	
   

  
								

 

 

EXHIBITS

 

	
  A

  	
  Depiction
  of Suite 1720 Premises

  	
   

  
	
  B

  	
  Suite
  1720 Base Rent

  	
   

  

 

 

EXHIBIT A TO
EIGTH AMENDMENT

 

Suite
1720 Premises

 

[Graphics]

 

A-1

 

EXHIBIT B TO EIGHTH
AMENDMENT

 

Suite
1720 Premises Base Rent

 

	
  Period

  	
   

  	
  Annual
  Base Rent

  	
   

  	
  Monthly
  Base Rent

  	
   

  	
  Per Square
  Foot

  Annual Rent

  	
   

  
	
  05/01/00 - 04/30/01

  	
   

  	
  $

  	
  81,650.50

  	
   

  	
  $

  	
  6,804.21

  	
   

  	
  $

  	
  18.25

  	
   

  
	
  05/01/01 - 04/30/02

  	
   

  	
  $

  	
  84,111.20

  	
   

  	
  $

  	
  7,009.27

  	
   

  	
  $

  	
  18.80

  	
   

  
	
  05/01/02 - 04/30/03

  	
   

  	
  $

  	
  86,616.64

  	
   

  	
  $

  	
  7,218.05

  	
   

  	
  $

  	
  19.36

  	
   

  
	
  05/01/03 - 04/30/04

  	
   

  	
  $

  	
  89,211.56

  	
   

  	
  $

  	
  7,434.30

  	
   

  	
  $

  	
  19.94

  	
   

  
	
  05/01/04 - 04/30/05

  	
   

  	
  $

  	
  91,895.96

  	
   

  	
  $

  	
  7,658.00

  	
   

  	
  $

  	
  20.54

  	
   

  
	
  05/01/05 - 04/30/06

  	
   

  	
  $

  	
  94,669.84

  	
   

  	
  $

  	
  7,889.15

  	
   

  	
  $

  	
  21.16

  	
   

  
	
  05/01/06 - 08/31/06

  	
   

  	
  $

  	
  97,488.46

  	
   

  	
  $

  	
  8,124.04

  	
   

  	
  $

  	
  21.79

  	
   

  

 

 

NINTH
AMENDMENT TO OFFICE LEASE

 

THIS NINTH AMENDMENT
TO OFFICE LEASE (“Ninth Amendment”) is made as of the 31st day of August, 2000,
by and between LINCOLN-CARLYLE HARTFORD, L.L.C., a Delaware limited liability
company (“Landlord”), and TOWNSEND ANALYTICS, LTD., an Illinois
corporation.

 

WITNESSETH:

 

A.                                   Landlord’s
predecessor-in-interest and Tenant entered into a certain lease dated as of
June 3, 1996, as amended by a letter agreement dated August 28, 1996
and by Amendments dated as of December 20, 1996, July 17, 1997,
July 31, 1998, November 12, 1998, July 1, 1999, August 27,
1999, September 10, 1999 and May 1, 2000 (the original Lease, as amended
by such letter agreement and Amendments is referred to herein as the “Lease”),
whereby Landlord’s predecessor-in-interest or Landlord leased to Tenant certain
premises consisting of Suite Nos. 1550 (11,828 rentable square feet), 1925
(9,393 rentable square feet), 2000 (4,215
rentable square feet), 2040 (9,939 rentable square feet), 2012 (3,241
rentable square feet), 2020 (2,852 rentable square feet), 2015 (3,010 rentable
square feet), 2010 (2,033 rentable square feet), 1900 (6,972 rentable square
feet) and 1720 (4,474 rentable square feet) (collectively, the “Existing
Premises”) on the fifteenth (15th), seventeenth (17th), nineteenth (19th) and twentieth (20th) floor of the building located at
100 South Wacker Drive, Chicago, Illinois 60606 (the “Building”) for a term
expiring on August 31, 2006.

 

B.                                     Landlord
and Tenant desire to amend the Lease to expand the Premises within the Building
for a term not to exceed six (6) months and to modify certain other provisions
as set forth herein but not otherwise.

 

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

 

1.                                       Definitions.
Each capitalized term used in this Ninth Amendment shall have the same meaning
as is ascribed to such capitalized term in the Lease, unless otherwise provided
for herein.

 

2.                                       Expansion of Premises. Commencing
on October 1, 2000 (the “Suite 1730 Expansion Effective Date”), the
Premises shall consist of the space currently occupied by Tenant in the
Building and an additional three thousand two hundred fifty-one (3,251) square feet of rentable area
on the seventeenth (17th) floor
(Suite 1730) of the Building as shown on Exhibit A attached hereto and
incorporated herein (such additional space being referred to herein as the
“Suite 1730 Expansion Space”), such that the total rentable square footage of
the Premises shall be sixty-one thousand two hundred eight (61,208) square feet
of rentable area. The Suite 1730 Expansion Space shall be leased for a six (6)
month term ending on March 31, 2001, subject to early termination by
either Landlord or Tenant effective on the last day of any month upon not less
than thirty (30) days’ prior written notice to the other party. The last day of
the term for the 

 

 

Suite 1730 Expansion Space is hereinafter referred to as the “Suite
1730 Termination Date”.

 

3.                                       Reduction
of Size of Premises. Commencing on the day after the Suite 1730
Termination Date (the “Reduction Effective Date”), the size of the Premises
shall be reduced by eliminating that portion of the Premises consisting of the
Suite 1730 Expansion Space (such eliminated space being referred to herein as
the “Reduction Space”), such that the total rentable square footage of the
Premises shall be fifty-seven thousand nine hundred fifty-seven (57,957)  rentable
square feet.

 

4.                                       Obligations
for Reduction Space. 
Prior to the Reduction Effective Date, Tenant shall (a) remove all
Tenant’s trade fixtures and property from the Reduction Space; (b) repair any
damage to the Reduction Space caused thereby; (c) surrender the Reduction Space
and all keys thereto to Landlord; and (d) perform as to the Reduction Space all
other activities specified in the Lease upon surrender of the Premises. Tenant
shall be liable to Landlord for all costs and expenses incurred by Landlord as
a result of Tenant’s failure to perform any of the foregoing. Any retention of
possession by Tenant of all or part of the Reduction Space after the Effective
Date shall be deemed a holding over under Section 15 of the Lease without
consent of Landlord, and shall be subject to the terms and conditions of said
Section 15 with respect to such holdover. Tenant hereby releases Landlord
from all claims, costs, causes of action, damages, liabilities or any other
matters whatsoever related to the Reduction Space.

 

Notwithstanding anything contained herein to the contrary, in no event
shall Tenant be released from or relieved of any liability with respect to the
Reduction Space accruing under the Lease prior to the Reduction Effective Date
(including, without limitation, the obligation to perform any conditions and
covenants that by the terms of the Lease as it pertains to the Reduction Space
survive the termination of the Lease) or of any default under the Lease that
occurred prior to the Reduction Effective Date or which would have constituted
a default as of the Reduction Effective Date except for the passage of time.

 

Tenant hereby covenants that Tenant has not at any time done or
suffered any act or omission and will not do or suffer any act or omission
whereby the Reduction Space or any part thereof are or may be in any way
charged, assessed or encumbered. If this covenant is breached, Tenant covenants
and agrees to pay Landlord upon demand any and all damages, costs and expenses
including, without limitation, attorneys’ fees resulting therefrom.

 

5.  Rent.  Commencing on the Suite 1730 Expansion
Effective Date and continuing to and including the Suite 1730 Termination Date,
Annual Rent for the Suite 1730 Expansion Space shall be $97,530.00, payable in equal
Monthly Installments of $8,127.50, payable together with the Rent for the
remainder of the Premises in the manner provided in Article 3 of the
Lease. There shall be no abatement of Rent under or by reason of this Ninth
Amendment.

 

6.                                       Tenant’s Proportionate Share. 
There shall be no increase in Tenant’s Proportionate Share by reason of
the expansion of the Premises hereunder to include the Suite 1730 Expansion
Space therein.

 

7.  Condition of Premises.  Tenant’s execution and delivery of this Ninth Amendment shall be 

 

 

conclusive evidence that the
Premises and the Suite 1730 Expansion Space were in good order and satisfactory condition as of the date hereof. No agreement of Landlord
to alter, remodel, decorate, clean or improve the Premises, the Suite 1730
Expansion Space or the Building and no representation or warranty regarding the condition of the Premises,
the Suite 1730 Expansion Space or the Building or regarding any other matter of any kind or nature has been made by or on behalf of Landlord to
Tenant under or by reason of this Ninth Amendment and Tenant agrees to accept possession of the
Suite 1730 Expansion Space in “as is”
condition.

 

8.                                       Real Estate Broker.  Tenant represents that, except for
Lincoln Property Company Commercial, Inc. (“Broker”), Tenant has not dealt with
any real estate broker, salesperson or finder in connection with this Ninth
Amendment and no such person initiated or participated in the negotiation of
this Ninth Amendment or is entitled to any fee or commission in connection
herewith. Tenant hereby agrees to indemnify and hold Landlord, its property
manager and their respective agents and employees harmless from and against any
and all damages, liabilities, claims, actions, costs and expenses (including
attorneys’ fees) arising from either (i) any claims or demands of any broker,
other than Broker, salesperson or finder for any fee or commission alleged to
be due such broker, salesperson or finder in connection with this Ninth
Amendment or (ii) a claim of, or
right to, any lien under the Statutes of the State of Illinois relating to real
estate broker liens with respect to any such broker, salesperson or finder
retained by Tenant.

 

9.                                       Submission.  Submission of this Ninth Amendment by
Landlord or Landlord’s agent, or their respective agents or representatives, to
Tenant for examination and/or execution shall not in any manner bind Landlord
and no obligations on Landlord shall arise under this Ninth Amendment unless
and until this Ninth Amendment is fully signed and delivered by Landlord and
Tenant; provided, however, the execution and delivery by Tenant of this Ninth
Amendment to Landlord or Landlord’s agent, or their respective agents or
representatives, shall constitute an irrevocable offer by Tenant to extend the
lease term of the Lease on the terms and conditions herein contained, which
offer may not be revoked for ten (10) days after such delivery.

 

10.                                 Binding Effect: Conflict.  The Lease, as amended hereby, shall continue
in full force and effect, subject to the  terms and provisions thereof and
hereof. In the event of any conflict between the terms of the Lease and the terms of this Ninth Amendment, the terms
of this Ninth Amendment shall control. This Ninth  Amendment shall
be binding upon and inure to the benefit of Landlord, Tenant and their
respective successors and permitted assigns.

 

11.                                 Limitation
of Liability. Neither Landlord nor any officer,
director, member or employee of Landlord nor any owner of the Building, whether disclosed or
undisclosed, shall have any personal liability with respect to any of the
provisions of the Lease, as hereby amended, or the Premises, and if Landlord is
in breach or default with respect to Landlord’s obligations under the Lease, as
hereby amended, or otherwise, Tenant shall look solely to the equity interest
of Landlord in the Building for the satisfaction of Tenant’s remedies or
judgments.

 

IN WITNESS
WHEREOF, this Ninth Amendment is
executed as of the day and year aforesaid.

 

 

	
  TENANT:

  	
  LANDLORD:

  
	
   

  	
   

  
	
  TOWNSEND ANALYTICS,

  	
  LINCOLN-CARLYLE HARTFORD,

  
	
  LTD., an Illinois
  corporation

  	
  L.L.C., a Delaware limited liability company

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  Lincoln Hartford, LLC, a Delaware

  Liability company, Managing Member

  
	
  By:

  	
  /s/MarrGwen Townsend

  	
   

  	
   

  	
   

  
	
  Its:

  	
  VP

  	
   

  	
  By:

  	
  Lincoln Investors Group 3, Inc.,

  
	
   

  	
   

  	
   

  	
   

  	
  A Texas corporation, Managing
  Member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
    /s/John B. Grissim

  	
   

  
	
   

  	
   

  	
  Name:

  	
  John Grissim

  	
   

  
	
   

  	
   

  	
  V.P.

  
										

 

 

EXHIBIT A

FLOOR PLAN OF THE SUITE 1730 EXPANSION SPACE

 

[Graphics]

 

 

TENTH AMENDMENT
TO LEASE

 

[***]

 

*** The Tenth Amendment to Lease has been omitted in its entirety and
filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions.

 

 

ELEVENTH
AMENDMENT TO OFFICE LEASE

 

[***]

 

*** The Eleventh Amendment to Office Lease has been omitted in its
entirety and filed separately with the Securities and Exchange Commission.
Confidential treatment has been requested with respect to the omitted portions.

 

 

TWELFTH
AMENDMENT TO OFFICE LEASE

 

THIS
TWELFTH AMENDMENT TO OFFICE LEASE (“Twelfth Amendment)
is made as of the 13th day of April, 2001, by and between LINCOLN-CARLYLE
HARTFORD, L.L.C., a Delaware limited liability company (“Landlord”),
and TOWNSEND
ANALYTICS, LTD., an Illinois corporation (“Tenant”).

 

WITNESSETH:

 

A.                                   Landlord’s
predecessor-in-interest and Tenant entered into a certain lease dated as of
June 3, 1996, as amended by a letter agreement dated August 28, 1996
and by Amendments dated as of December 20, 1996, July 17, 1997,
July 31, 1998, November 12, 1998, July 1, 1999, August 27,
1999, September 10, 1999, May 1, 2000, August 31, 2000,
October 12, 2000 and October 31, 2000 (the original Lease, as amended
by such letter agreement and Amendments is referred to herein as the “Lease”),
whereby Landlord’s predecessor-in-interest or Landlord leased to Tenant certain
premises consisting of Suite Nos. 1550 (11,828 rentable square feet), 1925
(9,393 rentable square feet), 2000 (4,215
rentable square feet), 2040 (9,939 rentable square feet), 2012 (3,241
rentable square feet), 2020 (2,852 rentable
square feet), 2015 (3,010 rentable square feet), 2010 (2,033 rentable square
feet), 1900 (6,972 rentable square feet) and 1720 (4,474 rentable square feet)
on the fifteenth (15th), seventeenth
(17th), nineteenth (19th) and twentieth (20th)
floors of the building located at 100 South Wacker Drive, Chicago, Illinois
60606 (the “Building”) for a term expiring on August 31, 2006, (the
“Termination Date”), Suite 1730 (3,251 rentable square feet) in the Building
for a term ending March 31, 2001, and Suite 1506 (3,628 rentable square
feet) in the Building for a term ending April 30, 2001(collectively, the
“Existing Premises”).

 

B.                                     Landlord
and Tenant desire to amend the Lease to expand the Premises within the
Building, to extend the term of the Lease as to Suite 1506 and Suite 1730 of
the Existing Premises, and to modify certain other provisions as set forth
herein but not otherwise.

 

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

 

1.                                       Definitions.
Each capitalized term used in this Twelfth Amendment shall have the same
meaning as is ascribed to such capitalized term in the Lease, unless otherwise
provided for herein.

 

2.                                       Extension
of Term - Suite 1730. The term of the Lease as to Suite 1730 of
the Existing Premises is hereby extended for a period of five (5)  years
and five (5)  months (the “Suite 1730 Extension Term”) commencing
on April 1, 2001 (the “Suite 1730 Extension Date”) and ending on the
Termination Date.

 

3.                                       Extension
of Term - Suite 1506. The term of the Lease as to

 

 

Suite 1506 of the Existing Premises is hereby extended for a period of
[***] (the “Suite 1506 Extension Term”) commencing on [***] (the “Suite 1506
Extension Date”) and ending on [***] (the “Suite 1506 Termination Date”).

 

4.                                       Expansion
of Premises.

 

(a)                                  Suite
1710.  Commencing on
April 15,  2001 (the “Suite 1710 Expansion
Effective Date”), the Premises shall consist of the space then occupied by
Tenant in the Building and an additional three thousand eight hundred one
(3,801) square feet of rentable area on the seventeenth (17th) floor (Suite 1710) of the Building as shown on
Exhibit A attached hereto and incorporated herein (such additional space being
referred to herein as the “Suite 1710 Expansion Space”). The Suite 1710
Expansion Space shall be leased for a term ending on October 31, 2001,
subject to early termination by either Landlord or Tenant effective on the last
day of any month upon not less than thirty (30) days’ prior written notice to
the other party. The last day of the term for the Suite 1710 Expansion Space is
hereinafter referred to as the “Suite 1 710 Termination Date”.

 

(b)                                 Suite
1725.  Commencing on May
1, 2001 (the “Suite 1725 Expansion Effective Date”), the Premises shall consist
of the space then occupied by Tenant in the Building and an additional four
thousand two hundred fifty (4,250) square feet of rentable area on the
seventeenth (17th) floor (Suite 1725) of the Building as shown on Exhibit A attached hereto and
incorporated herein (such additional space being referred to herein as the
“Suite 1 725 Expansion Space”). 
Notwithstanding the foregoing, if substantial completion of Landlord’s
Work in the Suite 1725 Expansion Space has not occurred by May 1, 2001 due to a
Landlord Delay (as defined in the Workletter attached hereto as Exhibit B), the
Suite 1725 Expansion Effective Date shall be extended until the date of
substantial completion of Landlord’s Work in the Suite 1725 Expansion Space.

 

(c)                                  Suite
1722.  Commencing on the
earlier to occur of (i) June 1, 2001 or (ii) the date of substantial
completion of Landlord’s Work in the Suite 1722 Expansion Space (as defined in
the Workletter attached hereto as Exhibit B) (the “Suite 1722 Expansion
Effective Date”), the Premises shall consist of the space then occupied by
Tenant in the Building and an additional nine hundred eighty-nine (989) square
feet of rentable area on the seventeenth (17th) floor (Suite 1722)
of the Building as shown on Exhibit A attached hereto and incorporated herein
(such additional space being referred to herein as the “Suite 1722 Expansion
Space”).  Notwithstanding the foregoing,
if substantial completion of Landlord’s Work in the Suite 1722 Expansion Space
has not occurred by June 1, 2001 due to a Landlord Delay (as defined in
the Workletter attached hereto as Exhibit B), the Suite 1722 Expansion
Effective Date shall be extended until the date of substantial completion of
Landlord’s Work in the Suite 1722 Expansion Space.

 

(d)                                 Suite
1732.  Commencing on the
earlier to occur of(i) August 1, 2001 or (ii) the date of substantial
completion of Landlord’s Work in the Suite 1732 Expansion Space (as defined in
the Workletter attached hereto as Exhibit B) (the “Suite 1732 Expansion
Effective Date”), the Premises shall consist of the space then occupied by
Tenant in the Building and an additional one thousand four hundred fifty-three
(1,453) square feet of

 

*** Certain information on this page has been omitted and filed
separately with the Securities and Exchange Commission. Confidential treatment
has been requested with respect to the omitted portions.

 

 

rentable area on the seventeenth (17th) floor (Suite 1732)
of the Building as shown on Exhibit A attached hereto and incorporated herein
(such additional space being referred to herein as the “Suite 1732 Expansion
Space”). Notwithstanding the foregoing, if substantial completion of Landlord’s
Work in the Suite 1732 Expansion Space has not occurred by August 1, 2001
due to a Landlord Delay (as defined in the Workletter attached hereto as
Exhibit B), the Suite 1732 Expansion Effective Date shall be extended until the
date of substantial completion of Landlord’s Work in the Suite 1732 Expansion
Space.

 

(e)                                  Suite
LL2-005.  Commencing on
the earlier to occur of (i) September 1, 2001 or (ii) the date of
substantial completion of Tenant’s Work in the Suite LL2-005 Expansion Space
(as defined in the Workletter attached hereto as Exhibit B-1) (the “Suite
LL2-005 Expansion Effective Date”), the Premises shall consist of the space
then occupied by Tenant in the Building and an additional ten thousand six
hundred twenty-four (10,624) square feet of rentable area on Lower Level 2
(Suite LL2-005) of the Building as shown as hatched on Exhibit A-1 attached
hereto and incorporated herein (such additional space being referred to herein
as the “Suite LL2-005 Expansion Space”).

 

5.                                       Reduction
of Size of Premises. 
Commencing on the day after the Suite 1710 Termination Date (the “Suite
1710 Reduction Effective Date”), the size of the Premises shall be reduced by
eliminating that portion of the Premises consisting of the Suite 1710 Expansion
Space (such eliminated space being referred to herein as the “Suite 1710
Reduction Space”).

 

6.                                       Obligations
for Suite 1710 Reduction Space.  Prior to the Suite 1710 Reduction Effective
Date, Tenant shall (a) remove all Tenant’s trade fixtures and property from the
Suite 1710 Reduction Space; (b) repair any damage to the Suite 1710 Reduction
Space caused thereby; (c) surrender the Suite 1710 Reduction Space and all keys
thereto to Landlord; and (d) perform as to the Suite 1710 Reduction Space all
other activities specified in the Lease upon surrender of the Premises.  Tenant shall be liable to Landlord for all
costs and expenses incurred by Landlord as a result of Tenant’s failure to
perform any of the foregoing.  Any
retention of possession by Tenant of all or part of the Suite 1710 Reduction
Space after the Effective Date shall be deemed a holding over under Section 15
of the Lease without consent of Landlord, and shall be subject to the terms and
conditions of said Section 15 with respect to such holdover.  Tenant hereby releases Landlord from all
claims, costs, causes of action, damages, liabilities or any other matters
whatsoever related to the Suite 1710 Reduction Space.

 

Notwithstanding anything contained herein to the contrary, in no event
shall Tenant be released from or relieved of any liability with respect to the
Suite 1710 Reduction Space accruing under the Lease prior to the Suite 1710
Reduction Effective Date (including, without limitation, the obligation to
perform any conditions and covenants that by the terms of the Lease as it
pertains to the Suite 1710 Reduction Space survive the termination of the
Lease) or of any default under the Lease that occurred prior to the Suite 1710
Reduction Effective Date or which would have constituted a default as of the
Suite 1710 Reduction Effective Date except for the passage of time.

 

 

Tenant hereby covenants that Tenant has not at any time done or
suffered any act or omission and will not do or suffer any act or omission
whereby the Suite 1710 Reduction Space or any part ,thereof are or may be in
any way charged, assessed or encumbered. 
If this covenant is breached, Tenant covenants and agrees to pay
Landlord upon demand any and all damages, costs and expenses including, without
limitation, attorneys’ fees resulting therefrom.

 

7.                                       Rent.

 

(a)                                  Suite 1710.  Commencing on the Suite 1710 Expansion
Effective Date and continuing to and including the Suite 1710 Termination Date,
Annual Rent for the Suite 1710 Expansion Space and Monthly Installments thereof
shall be as set forth below payable together with the Rent for the remainder of
the Premises in the manner provided in Article 3 of the Lease:

 

	
  Period

  	
   

  	
  Annual
  Rent

  	
   

  	
  Monthly
  Installments

  	
   

  
	
  04/15/01 -
  10/31/01

  	
   

  	
  $

  	
  117,831.00

  	
   

  	
  $

  	
  9,819.25

  	
   

  
								

 

(b)                                 Suite 1725.  Commencing on the
Suite 1725 Expansion Effective Date and continuing to and including the Termination Date, Annual
Rent for the Suite 1725 Expansion Space
and Monthly Installments thereof
shall be as set forth below payable together with the Rent for the
remainder of the Premises in the manner provided in Article 3 of the Lease:

 

	
  Period

  	
   

  	
  Annual
  Rent

  	
   

  	
  Monthly

  Installments

  	
   

  
	
  Suite 1725 Expansion Effective Date -
  04/30/02

  	
   

  	
  $

  	
  78,625.00 

  	
   

  	
  $

  	
  6,552.08 
  

  	
   

  
	
  05/01/02 - 04/30/03

  	
   

  	
  $

  	
  80,983.75

  	
   

  	
  $

  	
  6,748.65 

  	
   

  
	
  05/01/03 - 04/30/04

  	
   

  	
  $

  	
  83,413.26 

  	
   

  	
  $

  	
  6,951.11 

  	
   

  
	
  05/01/04 - 04/30/05

  	
   

  	
  $

  	
  85,915.66 

  	
   

  	
  $

  	
  7,159.64 

  	
   

  
	
  05/01/05 - 04/30/06

  	
   

  	
  $

  	
  88,493 13 

  	
   

  	
  $

  	
  7,374.43 

  	
   

  
	
  05/01/06 - 08/31/06

  	
   

  	
  $

  	
  91,147.92

  	
   

  	
  $

  	
  7,595.66

  	
   

  

 

(c)                                  Suite
1722.  Commencing on the
Suite 1722 Expansion Effective Date and continuing to and including the
Termination Date, Annual Rent for the Suite 1722 Expansion Space and Monthly
Installments thereof shall be as set forth below payable together with the Rent
for the remainder of the Premises in the manner provided in Article 3 of
the Lease:

 

 

	
  Period

  	
   

  	
  Annual
  Rent

  	
   

  	
  Monthly

  Installments

  	
   

  
	
  Suite 1722 Expansion Effective Date - 05/31/02

  	
   

  	
  $

  	
  18,296.50

  	
   

  	
  $

  	
  1,524.71

  	
   

  
	
  06/01/02 - 05/31/03

  	
   

  	
  $

  	
  18,845.40

  	
   

  	
  $

  	
  1,570.45

  	
   

  
	
  06/01/03 - 05/31/04

  	
   

  	
  $

  	
  19,410.76

  	
   

  	
  $

  	
  1,617.56

  	
   

  
	
  06/01/04 - 05/31/05

  	
   

  	
  $

  	
  19,993.08

  	
   

  	
  $

  	
  1,666.09

  	
   

  
	
  06/01/05 - 05/31/06

  	
   

  	
  $

  	
  20,592.87

  	
   

  	
  $

  	
  1,716.07

  	
   

  
	
  06/01/06 - 08/31/06

  	
   

  	
  $

  	
  21,210.66

  	
   

  	
  $

  	
  1,767.55

  	
   

  

 

(d)                                 Suite
1732.  Commencing on the
Suite 1732 Expansion Effective Date and continuing to and including the
Termination Date, Annual Rent for the Suite 1722 Expansion Space and Monthly
Installments thereof shall be as set forth below payable together with the Rent
for the remainder of the Premises in the manner provided in Article 3 of
the Lease:

 

	
  Period

  	
   

  	
  Annual
  Rent

  	
   

  	
  Monthly

  Installments

  	
   

  
	
  Expansion Effective Date - 06/30/02

  	
   

  	
  $

  	
  26,880.50

  	
   

  	
  $

  	
  2,240.04

  	
   

  
	
  07/01/02 - 06/30/03

  	
   

  	
  $

  	
  27,686.92

  	
   

  	
  $

  	
  2,307.24

  	
   

  
	
  07/01/03 - 06/30/04

  	
   

  	
  $

  	
  28,517.52

  	
   

  	
  $

  	
  2,376.46

  	
   

  
	
  07/01/04 - 06/30/05

  	
   

  	
  $

  	
  29,373.05

  	
   

  	
  $

  	
  2,447.75

  	
   

  
	
  07/01/05 - 06/30/06

  	
   

  	
  $

  	
  30,254.24

  	
   

  	
  $

  	
  2,521.19

  	
   

  
	
  07/01/06 - 06/30/06

  	
   

  	
  $

  	
  31,161.87

  	
   

  	
  $

  	
  2,596.82

  	
   

  

 

(e)                                  Suite
LL2-005.  Commencing on
the Suite LL2-005 Expansion Effective Date and continuing to and including the
Termination Date, Annual Rent for the Suite LL2-005 Expansion Space and Monthly
Installments thereof shall be as set forth below payable together with the Rent
for the remainder of the Premises in the manner provided in Article 3 of
the Lease:

 

 

	
  Period

  	
   

  	
  Annual
  Rent

  	
   

  	
  Monthly

  Installments

  	
   

  
	
  Suite LL2-005 Expansion Effective Date -
  08/31/02

  	
   

  	
  $

  	
  207,168.00

  	
   

  	
  $

  	
  17,264.00

  	
   

  
	
  09/01/02 - 08/31/03

  	
   

  	
  $

  	
  213,383.04

  	
   

  	
  $

  	
  17,781.92

  	
   

  
	
  09/01/03 - 08/31/04

  	
   

  	
  $

  	
  219,784.53

  	
   

  	
  $

  	
  18,315.38

  	
   

  
	
  09/01/04 - 08/31/05

  	
   

  	
  $

  	
  226,378.07

  	
   

  	
  $

  	
  18,864.84

  	
   

  
	
  09/01/05 - 08/31/06

  	
   

  	
  $

  	
  233,169.41

  	
   

  	
  $

  	
  19,430.78

  	
   

  

 

(f)                                    Suite
1730.  During the Suite
1730 Extension Term, Annual Rent for Suite 1730 and the Monthly Installments
thereof shall be as set forth below, payable in the manner provided in
Article 3 of the Lease:

 

	
  Period

  	
   

  	
  Annual
  Rent

  	
   

  	
  Monthly

  Installments

  	
   

  
	
  04/01/01 - 06/30/02

  	
   

  	
  $

  	
  61,143.50

  	
   

  	
  $

  	
  5,011.96

  	
   

  
	
  07/01/02 - 06/30/03

  	
   

  	
  $

  	
  61,947.81

  	
   

  	
  $

  	
  5,162.32

  	
   

  
	
  07/01/03 - 06/30/04

  	
   

  	
  $

  	
  63,806.24

  	
   

  	
  $

  	
  5,317.19

  	
   

  
	
  07/01/04 - 06/30/05

  	
   

  	
  $

  	
  65,720.43

  	
   

  	
  $

  	
  5,476.70

  	
   

  
	
  07/01/05 - 06/30/06

  	
   

  	
  $

  	
  67,692.04

  	
   

  	
  $

  	
  5,641.00

  	
   

  
	
  07/01/06 - 06/30/06

  	
   

  	
  $

  	
  69,722.80

  	
   

  	
  $

  	
  5,810.23

  	
   

  

 

Notwithstanding the foregoing,
Annual Rent for Suite 1730 and
the Monthly Installments thereof shall be abated for the period commencing on
April 1, 2001 and ending on the date immediately preceding the date which
is the earlier to occur of (i) August 1, 2001 or (ii) the date of
substantial completion of Landlord’s Work in the Suite 1730 (as defined in the
Workletter attached hereto as Exhibit B) (the “Suite 1730 Extension Rent
Effective Date”). Notwithstanding the foregoing, if substantial completion of
Landlord’s Work in Suite 1730 has not occurred by August 1, 2001 due to a
Landlord Delay (as defined in the Workletter attached hereto as Exhibit B), the
Suite 1730 Rent Effective Date will be extended until the date of substantial
completion of Landlord’s Work in Suite 1730.

 

(g)                                 Suite
1506.  During the Suite
1506 Extension Term, Annual Rent for Suite 1506 and the Monthly Installments
thereof shall be as set forth below, payable in the manner provided in
Article 3 of the Lease:

 

	
  Period

  	
   

  	
  Annual
  Rent

  	
   

  	
  Monthly

  Installments

  	
   

  
	
  [***]

  	
   

  	
  [***]

  	
   

  	
  [***]

  	
   

  

 

*** Certain information on this page has been omitted and filed
separately with the Securities and Exchange Commission. Confidential treatment
has been requested with respect to the omitted portions.

 

 

 

(h)                                 Except
as provided in subsection 4(f) above, there shall be no abatement of
Annual Rent under or by reason of this Twelfth Amendment.

 

8.                                       Tenant’s
Proportionate Share. For the purposes of determining Tenant’s
Proportionate Share of Direct Expenses and Taxes pursuant to Article 4 of
the Lease:

 

(a)                                  effective
on the Suite 1730 Extension Rent Effective Date, Tenant’s Proportionate Share
shall be increased by 0.6266%;

 

(b)                                 effective
on the Suite 1725 Expansion Effective Date, Tenant’s Proportionate Share shall
be increased by 0.8 192%;

 

(c)                                  effective
on the Suite 1722 Expansion Effective Date, Tenant’s Proportionate Share shall
be increased by 0.1906%; and

 

(d)                                 effective
on the Suite 1732 Expansion Effective Date, Tenant’s Proportionate Share shall
be increased by 0.2801%.

 

All of the foregoing increases in Tenant’s Proportionate Share are
based on a remeasured rentable area of the Building of 518,825 square feet. 
There shall be no increase in Tenant’s Proportionate Share by reason of
the expansion of the Premises hereunder to include Suite 1710 and the Suite
LL2-005 Expansion Space therein or by reason of the extension of the term as to
Suite 1506.

 

9.                                       Condition
of Premises.  Tenant’s
execution and delivery of this Twelfth Amendment shall be conclusive evidence
that the Existing Premises and the Suite 1710, 1722, 1725, 1732 and LL2-005
Expansion Spaces were in good order and satisfactory condition as of the date
hereof, subject to Landlord’s obligations under the Workletter attached hereto
as Exhibit B.  No agreement of Landlord
to alter, remodel, decorate, clean or improve the Existing Premises and the Suite
1710, 1722, 1725, 1732 and LL2-005 Expansion Spaces or the Building and no
representation or warranty regarding the condition of the Existing Premises,
the Suite 1710, 1722, 1725, 1732 and LL2-005 Expansion Spaces or the Building
or regarding any other matter of any kind or nature has been made by or on
behalf of Landlord to Tenant under or by reason of this Twelfth Amendment,
except for Landlord’s obligations under the Workletter attached hereto as
Exhibit B, and furthermore, Tenant agrees to accept possession of (i) the Suite
1710 Expansion Space in “as is” condition and (ii) the Suite LL2-005 Expansion Space in “as is” condition subject
to Tenant’s obligation to improve the Suite LL2-005 Expansion Space as provided
in the Work letter attached hereto as Exhibit B-1.

 

10.                                 Consent
to Assignment and/or Sublease to Certain Affiliates of Tenant.  Landlord acknowledges that Tenant may elect,
from time to time, to sublease, and/or assign the Lease as amended hereby, as
to all or portions of the Premises (including portions of the Existing Premises
or those portions of the Suite 1710, 1722,

 

 

1725, 1732 and LL2-005 Expansion Spaces as to which Tenant has
commenced paying Rent), to Terra Nova Trading, L.L.C. and/or Archipelago
Holdings, L.L.C., each of which is an affiliate of the principals of Tenant, or
their respective subsidiaries or affiliates (collectively, a ‘Permitted
Transfer”), provided that at least fifteen (15) days prior to the effective date of any such proposed
assignment, Tenant shall permit Landlord or its designated agents to examine
the current financial statements of Tenant and the proposed assignee for
Landlord’s approval (which shall not be withheld provided such financial
statements show that the proposed assignee or subtenant is of at least
equivalent financial condition (i.e., tangible net worth and current net
income) as Tenant as determined by Landlord in its reasonable business
judgment) and that the proposed assignment or sublease otherwise complies with
the provisions of Article 10 of the Lease which are not inconsistent with
the foregoing provisions of this Section. Except for a Permitted Transfer, all
other assignments, sublettings, transfers, etc. with respect to the Lease as
amended hereby and the Premises which are or would be covered by the provisions
of Article 10 of the Lease as amended hereby, shall remain subject to the
provisions thereof.

 

11.                                 Renewal
of Term Applicable to Expanded Premises.  Any renewal of the term of the Lease as
exercised by Tenant pursuant to Article 45 of the Lease as amended hereby
shall be applicable to the Existing Premises as expanded by this Twelfth
Amendment.

 

12.                                 Expansion
of Right of First Offer.  Section 43 of the Lease (as amended by the  Fifth
Amendment thereto) is hereby further amended to add to the “Option Premises”
(as defined therein) any space which becomes available for leasing which is
outside of the Existing Premises as expanded hereby and is located on Lower
Level 2 of the Building, subject to the rights and limitations on Tenant’s
right of  first offer to lease such additional portions of the
Option Premises set forth in Section 43 as amended.

 

13.                                 Real
Estate Broker.  Tenant
represents that, except for Lincoln Property Company Commercial, Inc.
(“Broker”), Tenant has not dealt with any real estate broker, salesperson or
finder in connection with this Twelfth Amendment and no such person initiated
or participated in the negotiation of this Twelfth Amendment or is entitled to
any fee or commission in connection herewith. Tenant hereby agrees to indemnify
and hold Landlord, its property manager and their respective agents and
employees harmless from and against any and all damages, liabilities, claims,
actions, costs and expenses (including attorneys’ fees) arising from either (i)
any claims or demands of any broker, other than Broker, salesperson or finder
for any fee or commission alleged to be due such broker, salesperson or finder
in connection with this Twelfth Amendment or (ii) a claim of,  or
right to, any lien under the Statutes of the State of Illinois relating to real
estate broker liens with respect to any such broker, salesperson or finder
retained by Tenant.

 

14.                                 Submission.  Submission of this Twelfth Amendment by
Landlord or Landlord’s agent, or their respective agents or representatives, to
Tenant for

 

 

examination and/or execution shall not in any manner bind Landlord and
no obligations on Landlord shall arise under this Twelfth Amendment unless and
until this Twelfth Amendment is fully signed and delivered by Landlord and
Tenant; provided, however, the execution and delivery by Tenant of this Twelfth
Amendment to Landlord or Landlord’s agent, or their respective agents or
representatives, shall constitute an irrevocable offer by Tenant to extend the
lease term of the Lease on the terms and conditions herein contained, which
offer may not be revoked for ten (10) days after such delivery.

 

15.                                 Binding
Effect; Conflict.  The
Lease, as amended hereby, shall continue in full farce and effect, subject to
the terms and provisions thereof and hereof. In the event of any conflict
between the terms of the Lease and the terms of this Twelfth Amendment, the
terms of this Twelfth Amendment shall control. This Twelfth Amendment shall be
binding upon and inure to the benefit of Landlord, Tenant and their respective
successors and permitted assigns.

 

16.                                 Limitation
of Liability.  Neither
Landlord nor any officer, director, member or employee of Landlord nor any
owner of the Building, whether disclosed or undisclosed, shall have any
personal liability with respect to any of the provisions of the Lease, as
hereby amended, or the Premises, and if Landlord is in breach or default with
respect to Landlord’s obligations under the Lease, as hereby amended, or
otherwise, Tenant shall look solely to the equity interest of Landlord in the
Building for the satisfaction of Tenant’s remedies or judgments.

 

 

IN
WITNESS WHEREOF, this  Twelfth
Amendment is executed as of the day and year aforesaid.

 

 

	
  TENANT:

  	
  LANDLORD:

  
	
   

  	
   

  
	
  TOWNSEND ANALYTICS, LTD.,

  	
  LINCOLN-CARLYLE HARTFORD, L.L.C.,

  
	
  an Illinois corporation

  	
  a Delaware limited liability company

  
	
   

  	
   

  
	
  By:

  	
  /s/MarrGwen Townsend

  	
   

  	
  By:  

  	
  Lincoln Hartford, LLC,
  a Delaware

  
	
   

  	
   

  	
   limited company, Managing Member

  
	
   

  	
   

  
	
  Its: 

  	
   

  	
   

  	
   By: 

  	
  Lincoln Investors Group 3, Inc., a

  
	
   

  	
   

  	
  Texas corporation, Managing Member

  
	
   

  	
  By:

  	
  /s/John B. Grissim

  	
   

  
	
   

  	
  Name:

  	
  John B. Grissim

  	
   

  
	
   

  	
   

  	
  Vice President

  
								

 

 

EXHIBIT
A

 

[Graphics]

 

 

EXHIBIT
A-1

 

[Graphics]

 

 

EXHIBIT
B

 

WORKLETTER

 

1.                                       Definitions.  Terms which, are defined elsewhere in this
Twelfth Amendment shall have the same meanings in this Workletter. Terms which
are defined in this Workletter shall have the same meanings elsewhere in this
Twelfth Amendment. In addition to the terms defined elsewhere in this
Workletter, the following terms shall have the following meanings:

 

A.                                                                                   “Effective
Date” means the applicable Expansion Effective Date with respect to the Suite
1722, 1725 and 1732 Expansion
Spaces or the Suite 1730 Extension Date with respect to Suite 1730 of the
Existing Premises.

 

B.                                                                                     “Expansion
Space” shall mean the Suite 1722 Expansion Space, the Suite 1725 Expansion
Space, Suite 1730 of the Existing Premises, or the Suite 1732 Expansion Space,
as applicable.

 

C.                                                                                     “Landlord
Delay” means a delay in the substantial completion of Landlord’s Work in the
applicable Expansion Space arising, directly or indirectly, out of or on
account of Landlord’s failure, within the applicable time frame specified in
Paragraph 2 of this Workletter, to (i) approve, disapprove or cause preparation
of the Space Plans, any revised Space Plans, the Working Plans, any revised
Working Plans, a Change or any modified Change required hereunder or (ii)
notify Tenant of Landlord’s good faith estimate of the cost to incorporate any
Change into Landlord’s Work and the number of days of Tenant Delay that may
result therefrom.

 

D.                                                                                    “Landlord’s
Architect” means Hydzik Schade Associates, Ltd.

 

E.                                                                                      Landlord’s
Construction Management Fee” means three percent (3%) of the hard costs of
Landlord’s Work which shall be paid by Landlord to Landlord’s Construction
Manager from the Tenant Improvement Allowance.

 

F.                                                                                      “Landlord’s
Construction Manager” means Lincoln Property Company or such other party as may
be selected by Landlord in its sole discretion.

 

G.                                                                                     “Landlord’s
Contractor’ means the contractor hired by Landlord to do the Landlord’s Work
pursuant to this Workletter.

 

H.                                                                                    “Landlord’s
Engineer” means ESD.

 

I.                                                                                         “Landlord’s
Work” means the work required to be performed by Landlord under this Workletter
(which shall not include Tenant’s furnishings,

 

 

fixtures, equipment or communications and/or data cabling except to the
extent expressly specified in the Tenant Plans).

 

J.                                                                                        “Mechanical
System Plans” means the final working drawings, plans and specifications for
the mechanical, sprinkler, heating. air conditioning, electrical and plumbing
systems in the Expansion Space, which shall be prepared by Landlord’s Engineer
based upon and in accordance with the Space Plans and fully coordinated with
the remainder of the Working Plans, and which shall contain sufficient detail
and shall be otherwise suitable in all respects for submission to the building
department to obtain a building permit.

 

K.                                    “Move-In
Conditions” means all of the following events: (i) Tenant has inspected the
Expansion Space and the Landlords Work as provided in Paragraph 7A of this
Workletter; (ii) Tenant and Landlord have prepared the Punch List described in
Paragraph 7A of this Workletter and Tenant is thereby deemed to have accepted
the Expansion Space and the Landlord’s Work as and to the extent provided in
Paragraph 7A of this Workletter; and (iii) Tenant has taken possession of all
of the Expansion Space for purposes of conducting its business.

 

L.                                      “Space Plans”
means plans, drawings, plans and specifications prepared by Landlord’s
Architect showing the intended design, character and finishes of the Expansion
Space, including partition and door locations, which shall conform to Building
standards except as otherwise expressly provided herein, all in sufficient
detail to enable the Working Plans (including the Mechanical System Plans) to
be prepared.

 

M.                                 “Substantial
completion” or “substantially completed” or words of similar import means that
the work in question has been sufficiently completed such that it is suitable
for its intended purpose.

 

N.                                    “Tenant’s
Contractors” mean Tenant’s agents, contractors, licensees and invitees and
their respective agents, subcontractors and employees.

 

O.                                    “Tenant Delay”
means a delay in the substantial completion of Landlord’s Work in the
applicable Expansion Space arising, directly or indirectly, out of or on
account of any of the following events:

 

(i)                                     Tenant’s failure
to approve or disapprove the Space Plans, any revised Space Plans, the Working
Plans or any revised Working Plans required hereunder, within the applicable
times specified in Paragraph 2 of this Workletter.

 

(ii)                                  Tenant’s request for
a Change, as defined in Paragraph 2 of this Workletter, or any permitted
modified Change, including without
limitation, Landlord’s exercise of its rights to approve or disapprove
any Change or permitted modified Change, or any revised Working Plans

 

 

which reflect a Change or a permitted
modified Change; the preparation of revised Working Plans to
reflect a Change or a permitted modified Change; the ordering of any materials
or the performance of any work necessary to incorporate a Change into the Landlord’s Work; or any delay
in the commencement of any work necessary to incorporate a Change into the
Landlord’s Work which is necessitated, required or permitted under the
terms of this Workletter.

 

(iii)                               Any delay resulting from
Landlord’s suspension of the performance of Landlord’s Work as a result of
Tenant’s failure to timely pay any Initial Excess Payment defined in and
pursuant to Paragraph 4.B of this Workletter.

 

(iv)                              The performance of any
work or activities on or about the Building or the Expansion Space by Tenant or
any of Tenant’s employees or Tenant’s Contractors.

 

(v)                                 Any delay caused by
Tenant or any of Tenant’s employees or Tenant’s Contractors.

 

(vi)                              Any Event of Default of
Tenant under the Lease as amended by
this Twelfth Amendment.

 

P.                                      “Tenant Improvement Allowance” means:

 

(i)                                     the amount of $34,615.00 (i.e., $35.00 per
square foot of rentable area) with respect to the Suite 1722 Expansion Space;

 

(ii)                                  the amount of $59,500.00 (i.e., $14.00 per
square foot of rentable area) with respect to the Suite 1725 Expansion Space;

 

(iii)                               the amount of $45,514.00 (i.e., $14.00 per
square foot of rentable area) with respect to Suite 1730 of the Existing
Premises; or

 

(iv)                              the amount of $20,342.00 (i.e., $14.00 per
square foot of rentable area) with respect to the Suite 1732 Expansion Space.

 

Q.                                    “Tenant Plans” means the Space Plans, the
Mechanical System Plans and the Working Plans.

 

R.                                     “Turnover Date”
means the earlier of (i) the date Landlord’s Work is substantially completed in
the applicable Expansion Space or (ii) the date

 

 

Landlord’s Work in the applicable Expansion Space would have been
substantially completed but for one or more Tenant Delays.

 

S.                                      “Working Plans”
means the final working drawings, plans and specifications (including the
Mechanical System Plans) for all work to be performed by Landlord in the
Expansion Space, as prepared by Landlord’s Architect and Landlord’s Engineer
which shall be based upon and in accordance with the Space Plans, and which
shall contain sufficient detail and shall be otherwise suitable in all respects
for submission to the building department of the City of Chicago to obtain a
building permit.

 

2.                                       Preparation
and Approval of Tenant Plans.

 

A.                                                                                   Landlord
has previously entered into a separate agreement with Landlord’s Architect for
the preparation of the Space Plans and the Working Plans and a separate
agreement with Landlord’s Engineer for the preparation of the Mechanical System
Plans, all at Tenant’s sole cost and expense, subject to payment from the
Tenant Improvement Allowance as provided in Paragraphs 2.E and 4 of this Workletter.

 

B.                                                                                     Within
five (5) business days after
the later to occur of (i) the date Tenant receives a fully executed original of
this Twelfth Amendment or (ii) the date Tenant has received the Space Plans or
any revised Space Plans required hereunder, Tenant shall give Landlord written
notice of Tenant’s approval or disapproval thereof, and in the event of
disapproval, such notice shall specify the reasons for disapproval.  If Tenant fails to give Landlord written
notice of its approval or disapproval of the Space Plans or any revised Space
Plans within said five (5) business
day period, Tenant shall be deemed to have approved the Space Plans or revised
Space Plans, as the case may be. Within three (3) business days after Landlord
has received written notice from Tenant in accordance herewith that Tenant
disapproves the Space Plans or any revised Space Plans required hereunder,
Landlord shall cause the Space Plans or any revised Space Plans required
hereunder, as the case may be, to be revised by Landlord’s Architect and
resubmitted to Tenant for Tenant’s review and approval.  On or before the date Tenant approves or is
deemed to have approved the Space Plans or any revised Space Plans required
hereunder, Tenant shall furnish Landlord’s Architect with all information
required by Landlord’s Architect and Landlord’s Engineer to prepare the Working
Plans.

 

C.                                                                                     Within
fifteen (15) business days after
either (i) Tenant has given Landlord written notice that Tenant approves the
Space Plans or any revised Space Plans required hereunder, or (ii) Tenant is
deemed to have approved same pursuant to Paragraph 2.B above, Landlord shall
cause the Working Plans to be prepared by Landlord’s Architect and Landlord’s
Engineer and submitted to Landlord for Landlord’s review and approval.  Within five (5) business days after Landlord’s receipt of the Working Plans
or revised Working Plans required

 

 

hereunder, Landlord shall either approve the Working Plans or any
revised Working Plans required hereunder or direct Landlord’s Architect and
Landlord’s Engineer to prepare revised Working Plans meeting Landlord’s
objections, which revised Working Plans shall, within five (5) business days thereafter, be
prepared by Landlord’s Architect and Landlord’s Engineer and resubmitted to
Landlord for review and approval as required hereby.

 

D.                                    If Tenant desires a
change (i) in the Space Plans, or any revised Space Plans required hereunder,
after Tenant has approved same, or (ii) in the Landlord’s Work (any such change
being a “Change”), Tenant shall give Landlord written notice of the Change,
specifying the Change in reasonable detail. 
Within five (5) business
days after Landlord has received Tenant’s written notice of a Change or any
modified Change permitted hereunder. 
Landlord shall give Tenant written notice of its approval or disapproval
thereof, and in the event of disapproval, such notice shall specify the reasons
for disapproval.  If Landlord
disapproves of a Change or any modified Change permitted hereunder, Tenant may
modify the Change or such permitted modified Change, as the case may be, and
give Landlord written notice thereof. After Landlord has approved a Change or
any modified Change permitted hereunder, within five (5) business days
thereafter, Landlord shall cause the Working Plans to be revised by Landlord’s
Architect and Landlord’s Engineer to reflect the Change or such modified Change
and resubmitted to Landlord for Landlord’s review and approval in accordance
with the process set forth in Paragraph 2.C. Notwithstanding the foregoing,
Tenant shall be deemed to have initiated and Landlord shall be deemed to have
approved any Change which may be required to cause Landlord’s Work to comply
with all applicable laws, regulations, codes and ordinances and/or with the
requirements of any building inspector with jurisdiction over Landlord’s Work.

 

E.                                      Tenant agrees
that it will not unreasonably withhold its approval of the Space Plans or any
revised Space Plans required hereunder. 
Landlord agrees that it will not unreasonably withhold its approval of
the Tenant’s Plans or any revised Tenants Plans required hereunder, or any
Change or modified Change permitted hereunder provided, however, Landlord shall
not be deemed to have acted unreasonably if it withholds its consent because,
in Landlord’s opinion, any portion of  Landlord’s Work covered by the
Tenant’s Plans or any revised Tenant’s Plans required hereunder, or any such
Change (i) is likely to adversely affect the structural, mechanical,
electrical, plumbing, HVAC, life safety, communications, security or other
operating systems of the Building or the safety of its occupants, (ii) would
increase the costs or expenses incurred by or on behalf of Landlord for owning,
managing, operating, maintaining or repairing the Building, (iii) would impair
Landlord’s ability to furnish services to Tenant or any other tenant of the
Building, (iv) would violate any Laws or provisions of the Lease as amended by
this Twelfth Amendment, (v) would adversely affect the appearance of the
Building, (vi) would adversely affect the premises of any other tenant of the
Building or such tenant’s use or occupancy thereof, (vii) is

 

 

prohibited by the provisions of any mortgage or ground lease
encumbering the Building, or (viii) thus to conform to Building standards for
design, character, materials or finishes except as otherwise expressly provided
herein. The foregoing reasons shall not be exclusive of the reasons for which
Landlord may withhold consent, it being understood and agreed that such other
reasons may be similar or dissimilar to the foregoing.

 

F.                                      The cost of the
Tenant Plans and any revisions thereof required hereunder shall be deemed to be
part of the cost of Landlord’s Work to be paid as provided in Paragraph 4
below.

 

G.                                     Within three (3)
business days after the Working Plans have been revised to reflect a Change
which has been approved by Landlord, Landlord shall notify Tenant in writing of
Landlord’s good faith estimate of the cost of performing the work necessary to
incorporate such Change into the Landlord’s Work and of the number of days of
Tenant Delay that may result from performing such work. Landlord shall not
cause Landlord's Contractor to commence any work necessary to incorporate a
Change into the Landlord’s Work until Tenant has approved Landlord’s estimate
of the cost of such work and the number of days of Tenant Delay that may result
from such work.

 

3.                                       Performance of Landlord’s Work.

 

A.                                   After Landlord has
approved the Working Plans or any revised Working Plans, Landlord shall
promptly solicit bids to perform Landlords Work from three (3) reputable
general contractors selected by Landlord and shall provide copies of such bids
to Tenant. Landlord agrees to select the low bidder to be Landlord's Contractor
unless otherwise requested or approved in writing by Tenant. Promptly after
Landlord’s Contractor is selected, Landlord shall cause the Landlord’s
Contractor to do the Landlord’s Work covered by the Working Plans or such
revised Working Plans. After Landlord has approved any revised Working Plans
required hereunder which reflect a Change or a permitted modified Change in the
Landlord’s Work, Landlord shall promptly, subject to the terms of Paragraph 2
above, cause Landlord's Contractor to incorporate such Change into the
Landlord’s Work.

 

B.                                     Landlord shall
cause the Landlord’s Work, to be done in a first class workerlike manner using
only good grades of materials and shall comply with all governmental laws,
ordinances, codes, rules and regulations applicable at the time of the
performance of the Landlord’s Work.

 

4.                                       Payment
for Tenant Plans and Landlord’s Work.

 

A.                                   Landlord shall pay
the aggregate cost of Landlord’s Work and the Landlord’s Construction
Management Fee up to an amount not to exceed the Tenant Improvement Allowance
and Tenant shall pay the excess of the aggregate

 

 

cost of Landlord’s Work and the Landlord’s Construction Management Fee
over the Tenant Improvement Allowance (the “Excess”) plus the cost of all work
other than the Landlord’s Work, if any, which Tenant may elect to do in order
to make the Expansion Space ready for Tenant’s occupancy and which has been
approved by Landlord pursuant to paragraph 6E below. Tenant shall pay the
Excess as provided in Paragraph 4B, and Tenant shall pay the cost of such other
work, if any, directly to the persons or entities performing such other work.
The “cost of Landlord’s Work” as used in this Workletter shall include all costs
incurred by Landlord to plan, design and perform Landlord’s Work as specified
by the Tenant Plans and any approved (or deemed approved) revisions thereof
(including any Change), including without limitation, the fees and charges of
Landlord’s Architect, Landlord’s Engineer and Landlord’s Contractor, all permit
and inspection fees and charges, and any costs incurred by or charged to
Landlord for (i) unforeseen field conditions, (ii) substitution of materials or
finishes due to the unavailability of materials or finishes specified in the
Tenant Plans (as revised) that would materially delay substantial completion of
Landlord’s Work, (iii) necessary modification of any portions of the Building
or its systems to accommodate Landlord’s Work, and (iv) any Change to comply
with applicable laws, regulations, codes or ordinances and/or the requirements
of any building inspector with jurisdiction over Landlord’s Work.

 

B.                                     If Landlord
estimates at any time or from time to time that there will be an Excess,
Landlord shall notify Tenant in writing of Landlord’s good faith estimate of
the amount thereof, which estimate shall be itemized in reasonable detail.
Tenant shall pay one-half (1/2) of Landlord’s good faith estimate of the Excess
billed by Landlord within ten (10) business days after it receives Landlord’s
bill therefor (the “Initial Excess Payment”). 
In the event Tenant fails to timely pay any such Initial Excess Payment,
Landlord shall be entitled to suspend the performance of Landlord’s Work until
such time as such payment is received by Landlord. At such time as the total
cost of the Tenant Plans and the Landlord’s Work is finally determined,
Landlord shall notify Tenant of such amount in writing. If Tenant has not paid
all of the Excess, such notice shall include Landlord’s bill to Tenant for the
balance of the Excess not previously paid by Tenant, and if Tenant has paid
more than the Excess, such notice shall include Landlord’s statement to Tenant
showing the amount of the overpayment of the Excess. Tenant shall pay any such
balance of the Excess to Landlord within ten (10) business days after the date
when Tenant receives such notice and bill from Landlord, and Landlord shall pay
any such overpayment of the Excess to Tenant within ten (10) business days after
the later of the date when Landlord gives such notice and statement to Tenant
or the Effective Date.  All Landlord’s
bills to Tenant for portions of the Excess and Landlord’s notice to Tenant of
the finally determined cost of the Tenant Plans and the Landlord’s Work shall
itemize the costs in question in reasonable detail.

 

C.                                     If the aggregate
total cost of the Tenant Plans, Landlord's construction Management Fee and the
Landlord’s Work is less than the Tenant Improvement Allowance, any unused
portion of the Tenant Improvement Allowance shall be retained by Landlord
without any claim thereupon accruing to

 

 

Tenant.

 

D.                                    For purposes of
this Paragraph 4, the cost of the Tenant Plans shall be deemed to include the
cost of any revision in the Tenant’s Plans required hereunder, including any
such revision to reflect a Change or a permitted modified Change.

 

5.                                       Work
While Tenant in Occupancy; Landlord Delay

 

A.                                                                                   It
is acknowledged by Tenant that Landlords Work in the Suite 1730 portion of the
Existing Premises shall be performed while Tenant is in occupancy thereof and
may not commence or be substantially completed until after the Suite 1730
Extension Date.  Landlord shall have the
right to enter the Suite 1730 portion of the Existing Premises at all
reasonable times without notice and to take all reasonably necessary measures
therein to effect the completion of Landlord’s Work therein and such actions by
Landlord shall not constitute an actual or constructive eviction of Tenant 1from
the Suite 1730 portion of the Existing Premises, in whole or in part, or
entitle Tenant to any claim for set-off, deduction or abatement of Annual Rent
or any other charges payable by Tenant under the Lease as amended hereby.
Tenant agrees to cooperate with Landlord in facilitating construction of
Landlord’s Work in the Suite 1730 portion of the Existing Premises (including
without limitation vacating and removing its property from portions of the
Suite 1730 portion of the Existing Premises under construction for the duration
thereof).  Landlord shall use
commercially reasonable efforts to minimize the disruption of Tenant’s business
during the performance of Landlord’s Work in the Suite 1730 portion of the
Existing Premises, it being understood and agreed that performance of Landlord’s
Work therein shall necessarily entail the creation of dust, debris, noise,
traffic and the partitioning or barricading of areas under construction during
Tenant’s business hours.

 

B.                                                                                     If
there is a delay in the substantial completion of the Landlord’s Work for any
reason, neither Landlord, nor the managing or leasing agent of the Building,
nor any of their respective agents, partners or employees, shall have any
liability to Tenant in connection with such delay, nor shall the Lease nor this
Twelfth Amendment be affected in any way.

 

6.                                       Tenant’s
Access to the Expansion Space. Landlord shall permit Tenant, Tenant’s
employees and Tenant’s Contractors which have been reasonably approved by
Landlord to enter the Expansion Space prior to the Effective Date in order that
Tenant may do work in addition to the Landlord’s Work, if any, as may be
desired by Tenant to make the Expansion Space ready for Tenant’s occupancy,
provided that Tenant shall fully perform and comply with each of the following
covenants, conditions and requirements:

 

A.                                   If Landlord permits
such entry prior to the Effective Date, then

 

 

such permission is conditioned upon Tenant, Tenant’s employees and
Tenant’s Contractors working in harmony and not interfering with or delaying
Landlord or Landlord’s Contractor in doing the Landlord’s Work or with Landlord
or any person or entity doing work in the Building, whether for Landlord or
another tenant or occupant of the Building; and if at any time such entry shall
in the reasonable judgment of Landlord cause or threaten to cause such
disharmony, interference or delay, Landlord shall have the right to withdraw
such permission upon 24 hours’ written notice.

 

B.                                     Any such entry
prior to the Effective Date shall be under and subject to all of the terms and provisions
of this Lease, the same as if the Effective Date had occurred, except that
Tenant shall not be obligated to pay any Rent as to the Expansion Space prior
to the Effective Date.  To the extent
not prohibited by law, all entry to the Building or the Expansion Space by
Tenant, Tenant’s employees or Tenant’s Contractors prior to the Effective Date
shall be solely at the risk of Tenant, Tenant’s employees and Tenant’s
Contractors, and Landlord, Landlord’s beneficiaries, the managing agent of the
Building and their respective agents, partners and employees shall not be
liable in any way for, and Tenant hereby indemnifies, waives and releases them
and holds them harmless from any liability for and claims arising from, any
injury or death of any person or damage to or theft, robbery, pilferage, loss
or loss of the use of any property of Tenant, or any other person or entity or
any of Tenant’s work or installations in or about the Expansion Space or the
Building which occurs in connection with such entry; provided however,
Landlord, the managing agent of the Building and their respective agents,
partners and employees shall be liable for, and Tenant does not indemnify,
waive or release them or hold them harmless from liability for and claims
arising from, their respective negligence or willful misconduct which occurs in
connection with such entry and causes any injury to or death of any person or
such damage to, theft, pilferage, loss or loss of the use of any such property.
The foregoing indemnification, release and waiver of claims shall be in
addition to and shall not limit or be limited by any other indemnifications,
releases or waivers of claims in this Lease. 
In addition, and without limiting any other provisions of this Lease,
including this Workletter, Tenant shall require all persons and entities
performing work on behalf of Tenant to prevent damage to any improvements then
existing or under construction in the Expansion Space, in a manner reasonably
satisfactory to Landlord, shall
allow Landlord and Landlord’s Contractor access to the Expansion Space at all
times during the period when Tenant or any person or entity is undertaking work
therein and in the event any person or entity performing work on behalf of
Tenant, other than the Landlord’s Work, causes any damage to the property of
Landlord or others, or to the Landlord’s Work, Tenant shall cause such damage
to be repaired at Tenant’s expense, and if Tenant fails to cause such damage to
be repaired promptly upon Landlord’s demand therefor, Landlord may, in addition
to any other rights or remedies available to Landlord under this Lease or at
law or equity, cause such damage to be repaired, in which event Tenant shall
promptly upon Landlord’s demand pay to Landlord the cost of such repair.

 

 

C.                                                                                     All
persons and entities performing work or supplying materials to Tenant shall use
only those service corridors and service entrances designated by Landlord for
ingress and egress of personnel, and the delivery and removal of equipment and
material through or across any common areas of the Building shall only be
permitted with the written approval of Landlord, not to be unreasonably
withheld, and during hours reasonably determined by Landlord. Landlord shall
have the right to order Tenant or any person or entity who violates any of the
above requirements which violation is not promptly remedied after oral notice
thereof to Tenant, to cease work and, in the case of any person or entity other
than Tenant, to remove itself, its equipment and its employees from the Building.

 

D.                                                                                    Tenant,
Tenant’s employees and Tenant's Contractors shall abide by the rules of the
site applicable to all contractors and others in or upon the Building or the
Expansion Space and shall coordinate and schedule their access to the
Expansion Space for labor and materials delivery through the general contractor
for the Building and Landlord’s Contractor, or the managing agent for the
Building, if so directed by Landlord.

 

E.                                                                                      All
work to be performed pursuant to this Paragraph 6 shall be subject to the terms
and provisions of Article 6 of the Lease, including without limitation the
requirement of first obtaining the prior written consent of Landlord thereto.

 

7.                                       Acceptance
of Work.

 

A.                                   Landlord shall give
Tenant ten (10) business days’ prior written notice of the expected Turnover
Date.  On or before the expected
Turnover Date, Tenant shall conduct an inspection of the Expansion Space and
the Landlord’s Work with Landlord’s representatives and Landlord’s Contractor
and develop with such representatives and deliver to Landlord a punch list of
all items of the Landlord’s Work which are not complete or which require
correction (the “Punch List”). Landlord shall cause Landlord’s Contractor to
complete and/or correct all items on the Punch List promptly after Landlord
receives the Punch List and shall give Tenant written notice when all of the
items on the Punch List have been completed and/or corrected. Any items not on
the Punch List which could have, with reasonable diligence, been discovered by
Tenant and included on the Punch List shall be deemed accepted by Tenant. If
Tenant fails to appear for such inspection or fails to arrange a different date
for inspection with Landlord within five (5)
business days after receipt of Landlord’s notice of the expected
Turnover Date, Tenant shall be deemed to have agreed that no items exist that
are incomplete or require correction and therefore Landlord’s Work has been
completed and Landlord shall not be required to complete or correct any such
items which may in fact exist; or at Landlord’s election, Landlord or
Landlord’s Construction Manager may prepare and approve the Punch List on
Tenant’s behalf.

 

 

B.                                     Landlord and
Tenant agree to cooperate with each other in scheduling the inspections of the
Expansion Space and the Landlord’s Work described in this Paragraph 7, to make
their respective personnel and representatives available on reasonable notice
to attend such inspections and develop the Punch List within the inspection
time described in this Paragraph 7 and to act reasonably in determining whether
or not an item of the Landlord’s Work should be included in the Punch List.

 

C.                                     At any time after
the Turnover Date, Landlord, Landlord’s Contractor, their agents, employees or
contractors may enter the Expansion Space to complete and correct Punch List
items and such entry for such purpose shall not constitute an actual or
constructive eviction of Tenant, in whole or in part, or entitle Tenant to any
abatement or diminution of rent or relieve Tenant from any of its obligations
under the lease, or subject to the provisions of Article 11 of the Lease,
impose any other liability on Landlord, Landlord’s Contractor, their agents,
employees or contractors.

 

8.                                       Miscellaneous.

 

A.                                   Except as expressly
set forth herein, Landlord has no other agreement with Tenant and has no other
obligation to do any other work or pay any amounts with respect to the
Expansion Space. Any other work in the Expansion Space which may be permitted
by Landlord pursuant to the terms and conditions of this Lease shall be done at
Tenant’s sole cost and expense and in accordance with the terms and conditions
of this Lease.

 

B.                                     This Workletter
shall not be deemed applicable to any additional space added to the Premises at
any time or from time to time, whether by any option under the Lease as amended
by this Twelfth Amendment or otherwise, or to any portion of the Premises or
any additions thereto in the event of a renewal or extension of the initial
term of this Lease, whether by any option under the Lease as amended by this
Twelfth Amendment or otherwise, unless expressly so provided in the Lease as
amended by this Twelfth Amendment or any amendment or supplement thereto.

 

C.                                     The failure by
Tenant to pay any monies due Landlord pursuant to this Workletter within the
time period herein stated shall be deemed a default in the payment of Rent
under the terms of this Lease for which Landlord shall be entitled to exercise
all remedies available to Landlord for nonpayment of Rent. All late payments
shall bear interest pursuant to Article 3.3 of the Lease.

 

D.                                    This Workletter is
expressly made a part of the Lease as amended by this Twelfth Amendment and is
subject to each and every term and condition thereof, including, without
limitation, the limitations of liability set forth therein.

 

 

E.                                      Tenant shall be
solely responsible to determine at the site all dimensions of the Expansion
Space and the building which affect any work that may be performed by Tenant or
any of Tenant’s Contractors hereunder.

 

F.                                      All of the
Landlord’s Work paid for by Landlord may be depreciated by Landlord.

 

G.                                     Time is of the
essence of this Workletter and of each and every provision hereof.

 

 

EXHIBIT
B-1

 

WORKLETTER
(SUITE LL2-005)

 

1.                                       Definitions.  Terms which are defined elsewhere in this
Twelfth Amendment shall have the same meanings in this Workletter (except as
otherwise provided in this Workletter). Terms which are defined in this
Workletter shall have the same meanings elsewhere in this Twelfth Amendment
(except as otherwise provided in this Twelfth Amendment). In addition to the
terms defined elsewhere in this Workletter, the following terms shall have the
following meanings:

 

A.                                   “Mechanical
System Plans” means the final working
drawings, plans and specifications for the mechanical, sprinkler, heating, air
conditioning, electrical and plumbing systems in the Suite LL2-005 Expansion
Space, which shall be prepared by Tenant’s Engineer based upon and in
accordance with the Space Plans and fully coordinated with the remainder of the
Working Plans, and which shall contain sufficient detail and shall be otherwise
suitable in all respects for submission to the building department to obtain a
building permit.

 

B.                                                                                     “Space
Plans” means plans, drawings, plans and specifications prepared by Tenant’s
Architect showing the intended design, character, materials and finishes of the
Suite LL2-005 Expansion Space, including partition and door locations, which
shall conform to Building standards, all in sufficient detail to enable the
Working Plans (including the Mechanical System Plans) to be prepared.

 

C.                                                                                     “Substantial
completion” or “substantially completed” or words of similar import means that
the work in question has been sufficiently completed such that it is suitable
for its intended purpose.

 

D.                                                                                    “Tenant’s
Architect” means The Environments Group.

 

E.                                                                                      “Tenant’s
Contractor” means a licensed general contractor, approved by Landlord as
provided in Paragraph 3.D below and hired by Tenant, to perform Tenant’s Work.

 

F.                                                                                      “Tenant’s
Contractors” means Tenant's Contractor, agents, contractors, licensees and
invitees and their respective agents, subcontractors and employees.

 

G.                                                                                     “Tenant’s
Engineer” means ESD.

 

H.                                                                                    “Tenant
Plans” means the Space Plans, the Mechanical System Plans and the Working
Plans.

 

I.                                                                                         “Tenant’s
Work” shall mean the leasehold improvements to be

 

 

installed in the Suite LL2-005 Expansion Space by Tenant’s Contractor
pursuant to the Tenant Plans and the terms and provisions of this Workletter,

 

J.                                                                                        “Working
Plans” means the final working drawings, plans and specifications (including
the Mechanical System Plans) for all work to be performed by Tenant in the
Suite LL2-005 Expansion Space, as prepared by Tenant’s Architect and Tenant’s
Engineer which shall be based upon and in accordance with the Space Plans, and
which shall contain sufficient detail and shall be otherwise suitable in all
respects for submission to the building department of the City of Chicago to
obtain a building permit.

 

2.                                       Preparation
and Approval of Tenant Plans.

 

A.                                   Tenant has arranged
or will arrange with Tenant’s Architect for the preparation of the Space Plans
and the Working Plans and has arranged or will arrange with Tenant’s Engineer
for the preparation of the Mechanical System Plans, all at Tenant’s sole cost
and expense.  Tenant shall cause the
Tenant’s Architect to prepare the Space Plans and submit the Space Plans to
Landlord for Landlord’s review and approval.

 

B.                                                                                     Within
five (5) business days after
the later to occur of (i) the date Landlord delivers a fully executed original
of this Twelfth Amendment to Tenant or (ii) the date Landlord has received the
Space Plans or any revised Space Plans required hereunder, Landlord shall give
Tenant written notice of Landlord’s approval or disapproval thereof, and in the
event of disapproval, such notice shall specify the reasons for disapproval. In
the event Landlord fails to give Tenant written notice of Landlord’s approval
or disapproval of the Space Plans or any revised Space Plans within said five (5) business day period, such Space
Plans or revised Space Plans, as the case may be, shall be deemed approved by
Landlord. Within ten (10) business days after Tenant has received written
notice from Landlord in accordance herewith that Landlord disapproves the Space
Plans or any revised Space Plans required hereunder, Tenant shall cause the
Space Plans or any revised Space Plans required hereunder, as the case may be,
to be revised by Tenant’s Architect and resubmitted to Landlord for Landlord’s
review and approval.

 

C.                                                                                     After
either (i) Landlord has given Tenant written notice that Landlord approves the
Space Plans or any revised Space Plans required hereunder or (ii) Landlord is
deemed to have approved the Space Plans or any revised Space Plans required
hereunder (as provided in Paragraph 2.B above), Tenant shall cause the Working
Plans to be prepared by Tenant’s Architect and Tenant’s Engineer and submitted
to Landlord for Landlord’s review  and
approval.  Within five (5) business days after Landlord’s
receipt of the Working Plans or revised Working Plans required hereunder,
Landlord shall give Tenant written notice of Landlord’s approval or disapproval
thereof, and in the event of disapproval, such notice shall specify the reason
therefor, whereupon Tenant shall direct Tenant’s

 

 

Architect and Tenant’s Engineer to prepare revised Working Plans
meeting Landlord’s objections, which revised Working Plans shall, within live (5) business days thereafter, be
prepared by Tenant’s Architect and Tenant’s Engineer and resubmitted to Landlord
for review and approval as required hereby.

 

D.                                                                                    If
Tenant desires a change (i) in the Tenant Plans, or any revised Tenant Plans
required hereunder, after Landlord has approved same, or (ii) in the Tenant's
Work (any such change being a “Change”), Tenant shall give Landlord written
notice of the Change, specifying the Change in reasonable detail. Within five (5) business days after Landlord has
received Tenant’s written notice of a Change or any modified Change permitted
hereunder, Landlord shall give Tenant written notice of its approval or
disapproval thereof, and in the event of disapproval, such notice shall specify
the reasons for disapproval.  If
Landlord disapproves of a Change or any modified Change permitted hereunder,
Tenant may modify the Change or such permitted modified Change, as the case may
be, and give Landlord written notice thereof. 
After Landlord has approved a Change or any modified Change permitted
hereunder, within five (5) business days thereafter, Tenant shall cause the
Working Plans to be revised by Tenant’s Architect and Tenant’s Engineer to
reflect the Change or such modified Change and resubmitted to Landlord for
Landlord’s review and approval in accordance with the process set forth in
Paragraph 2.D.  Notwithstanding the
foregoing, Tenant shall be deemed to have initiated and Landlord shall be
deemed to have approved any Change which may be required to cause Tenant’s Work
to comply with all applicable laws, regulations, codes and ordinances and/or
with the requirements of any building inspector with jurisdiction over Tenant’s
Work.

 

E.                                      Landlord agrees
that it will not unreasonably withhold its approval of the Tenant’s Plans or
any revised Tenant’s Plans required hereunder, or any Change or modified Change
permitted hereunder provided, however, Landlord shall not be deemed to have
acted unreasonably if it withholds its consent because, in Landlord’s opinion,
any portion of Tenant’s Work covered by the Tenant’s Plans or any revised
Tenant’s Plans required hereunder, or any such Change (i) is likely to
adversely affect the structural, mechanical, electrical, plumbing, HVAC, life
safety, communications, security or other operating systems of the Building or
the safety of its occupants, (ii) would increase the costs or expenses incurred
by or on behalf of Landlord for owning, managing, operating, maintaining or
repairing the Building, (iii) would impair Landlord’s ability to furnish
services to Tenant or any other tenant of the Building, (iv) would violate any
Laws (as hereinafter defined) or provisions of the Lease as amended by this
Twelfth Amendment, (v) would adversely affect the appearance of the Building,
(vi) would adversely affect the premises of any other tenant of the Building or
such tenant's use or occupancy thereof, (vii) is prohibited by the provisions
of any mortgage or ground lease encumbering the Building, or (viii) fails to
conform to Building standards for design, character, materials or
finishes.  The foregoing reasons shall
not be exclusive of the reasons for which Landlord may withhold consent, it
being understood and agreed that such other reasons

 

 

may be similar or dissimilar to the foregoing.

 

F.                                                                                      The
cost of the Tenant Plans and any revisions thereof required hereunder shall be
deemed to be part of the cost of Tenants Work to be paid as provided in
Paragraph 5 below.

 

G.                                                                                     Notwithstanding
the fact that Landlord may have approved a Change to Tenant’s Plans as provided
above, Tenant shall be solely responsible for (i) any increased cost of
Tenant’s Work caused by such Change and (ii) any delay in the substantial or
final completion of Tenant’s Work as a result of any such Change (and the Suite
LL2-005 Expansion Effective Date shall not be delayed by reason thereof).

 

3.                                       Performance
of Tenant’s Work.

 

A.                                                                                   After
Landlord has approved the Working Plans or any revised Working Plans, Tenant
shall cause the Tenant’s Contractor to perform the Tenant’s Work covered by the
Working Plans or such revised Working Plans. 
After Landlord has approved any revised Working Plans required hereunder
which reflect a Change or a permitted modified Change in the Tenant’s Work,
Tenant shall promptly, subject to the terms of Paragraph 2 above, cause
Tenant’s Contractor to incorporate such Change into the Tenant’s Work. Prior to
commencing tenant’s Work (or incorporating any Change therein), Tenant shall
submit to Landlord a reasonably detailed estimate of the total cost of Tenant’s
Work (including any such Change).

 

B.                                                                                     Tenant
shall cause the Tenant's Work, to be done in a first class workerlike manner
using only good grades of materials and shall comply with all governmental
laws, ordinances, codes, rules and regulations applicable at the time of the
performance of the Tenant’s Work, including, but not limited to, requirements
of Lessor’s fire insurance underwriters (collectively “Laws”).

 

C.                                                                                     Tenant
shall, at its own cost and expense, obtain all required building permits for
the performance of Tenant’s Work. 
Tenant’s failure to obtain such permits shall not cause a delay in the
Suite LL2-005 Expansion Effective Date or the obligation to pay Annual Rent or
any other obligations set forth in the Lease as amended by this Twelfth
Amendment with respect to the Suite LL2-005 Expansion Space.

 

D.                                                                                    Tenant’s
Contractors shall be licensed contractors, possessing good labor relations,
capable of performing quality workmanship and working in harmony with
Landlord’s contractors and subcontractors and with other contractors and
subcontractors in the Building. Landlord has the right to approve or disapprove
Tenant’s Contractors which approval shall not be unreasonably withheld. Without
any way limiting the grounds on which Landlord may reasonably withhold approval
of any of Tenant’s contractors, it shall be

 

 

reasonable for Landlord to withhold its approval of any of Tenant's
Contractors performing electrical, plumbing and/or mechanical work, which have
not previously been approved or permitted by Landlord to perform such work in
the Building or which in the course of performing such work previously in the
Building caused disharmony with any other contractor or such contractor working
in the Building, performed work not conforming to approved plans or Building
Standards, or violated any law, code, regulation, ordinance, workletter
requirements, or rule and regulation of the Building. All work shall be
coordinated with any other construction or other work in the Building in order
not to adversely affect construction work being performed by or for Landlord or
its tenants.

 

E.                                                                                      Landlord
shall have the right, but not be obligation, after written notice to Tenant of
Landlord’s intention to do so, to perform, on behalf of and for the account of
Tenant, subject to prompt reimbursement by Tenant upon demand, any work which
pertains to modifications to the structural, mechanical, plumbing, electrical,
HVAC, life safety or other operating systems of the Building to accommodate or
connect to Tenant’s Work.

 

F.                                                                                      Tenant
shall use only new, first-class materials in Tenant’s Work, except where
explicitly shown in the Tenant Plans. 
All of Tenant’s Work shall be done in a good and workmanlike manner.
Tenant shall obtain from Tenant’s Contractor warranties of at least one (1)
year duration from the completion of Tenant’s Work against defects in
workmanship and materials on all work performed and equipment installed in the
Suite LL2-005 Expansion Space as part of Tenant’s Work which modifies or
directly affects the structural, mechanical, plumbing, electrical, HVAC, life
safety or other operating systems of the Building.

 

G.                                                                                     Tenant
and Tenant’s Contractors shall make all reasonable efforts, and take all steps
appropriate to assure that all construction activities undertaken for the
performance of Tenant’s Work comport with the reasonable expectations of all
tenants and other occupants of a fully-occupied (or substantially fully
occupied) first-class office building and do not unreasonably interfere with
the operation of the Building or with other tenants and occupants of the
Building.  In any event, Tenant rand
Tenant’s Contractors shall comply with all rules and regulations existing from
time to time at the Building. Tenant and Tenant’s Contractors shall take all
precautionary steps to minimize dust, noise and construction traffic, and to
protect their facilities and the facilities of others affected by Tenant’s Work
and to properly police same. Construction equipment and materials are to be
kept within the Suite LL2-005 Expansion Space and delivery and loading of
equipment and materials shall be done at such locations and at such time as Landlord
shall reasonably direct so as not to burden the construction or operation of
the Building.  If and as required by
Landlord, the Suite LL2-005 Expansion Space shall be sealed off from the
balance of the space on the floor containing the Suite LL2-005 Expansion Space
so as to minimize the

 

 

dispersal of dirt, debris and noise.

 

H.                                                                                    Landlord
shall have the right to order Tenant or any of Tenant’s Contractors who violate
the requirements imposed on such party in performing work to cease work until
such violation is remedied and if such violation is not remedied within five (5) days after written notice thereof
from Landlord to Tenant, to remove such party’s equipment and employees from
the Building. No such action by Landlord shall delay the Suite LL2-005
Expansion Effective Date or the obligation to pay Annual Rent and other charges
or any other obligations set forth in the Lease as amended by this Twelfth
Amendment with respect to the Suite LL2-005 Expansion Space.

 

I.                                                                                         Utility
costs or charges for any after-hours service (including HVAC, hoisting or
freight elevator and the like) to the Suite LL2-005 Expansion Space shall be
the responsibility of Tenant from the date Tenant is obligated to commence or
commences Tenant’s Work and shall be paid for by Tenant upon demand at
Landlord’s standard rates then in effect. Tenant shall apply and pay for all
utility meters required. Tenant shall pay for all support services provided by
Tenant’s Contractors at Tenant’s request or at Landlord’s discretion resulting
from breaches or defaults by Tenant under this Workletter. All use of freight
elevators is subject to reasonable scheduling by Landlord and the rules and
regulations of the Building. Tenant shall arrange and pay for removal of
construction debris and shall not place debris in the Building’s waste
containers. If required by Landlord, Tenant shall sort and separate its waste
and debris for recycling and/or environmental law compliance purposes.

 

J.                                                                                        Tenant
shall permit access to the Suite LL2-005 Expansion Space, and Tenant’s Work
shall be subject to inspection, by Landlord and Landlord’s architects,
engineers, contractors and other representatives, at all times during the
period in which Tenant’s Work is being constructed and installed and following
completion of Tenant’s Work provided that such inspection shall be conducted in
a manner that reasonably minimizes interference with the conduct of Tenant’s
Work.

 

K.                                                                                    Tenant
shall proceed with its work expeditiously, continuously and efficiently.  Tenant shall notify Landlord upon completion
of Tenant’s Work and shall furnish Landlord and Landlord’s title insurance
company with such further documentation as may be required under Paragraph 5 below.

 

L.                                      Tenant shall have
no authority to deviate from the Tenant Plans in performance of Tenant’s Work,
except as authorized by Landlord and its designated representative in
writing.  Tenant shall furnish to
Landlord “as-built’ drawings of Tenant’s Work within thirty (30) days after
completion of Tenant’s Work.

 

M.                                                                                 Landlord
shall have the right to run utility lines, pipes, conduits,

 

 

duct work and component parts of all mechanical and electrical systems
where necessary or desirable through the Suite LL2-005 Expansion Space, to
repair, alter, replace or remove the same, and to require Tenant to install and
maintain proper access panels thereto provided that none of the foregoing
materially interferes with Tenant’s use and occupancy (as permitted by the
Lease as amended by this Twelfth Amendment) of the Suite LL2-005 Expansion Space.

 

N.                                                                                    Tenant
shall impose on and enforce all applicable terms of this Workletter against
Tenant’s Architect and Tenant’s Contractors.

 

4.                                       Insurance
and Indemnification.

 

A.                                                                                   In
addition to any insurance which may be required under the Lease, Tenant shall secure,
pay for and maintain or cause Tenant’s Contractors to secure, pay for and
maintain during the performance of Tenant’s Work within the Building and the
Suite LL2-005 Expansion Space, insurance in the following minimum coverages and
the Following minimum limits of liability:

 

(i)                                     Worker’s
Compensation and Employer’s Liability Insurance with limits of not less than
$1,000,000.00, or such higher amounts as may be required from time to time by
any Employee Benefit Acts or other statutes applicable where Tenant’s Work is
to be performed, and in any event sufficient to protect Tenant’s Contractors
from liability under the aforementioned acts.

 

(ii)                                  Comprehensive General
Liability Insurance (including Con tractors’ Protective Liability) in an amount
not less than $5,000,000.00 per occurrence, whether involving bodily injury
liability (or death resulting therefrom) or property damage liability or a
combination thereof with a minimum aggregate limit of’$5,000,000.00.  Such insurance shall provide for explosion and
collapse, completed operations coverage and broad form blanket contractual
liability coverage and shall insure Tenant's Contractors against any and all
claims for bodily injury, including death resulting therefrom, and damage to
the property of others and arising from its operations under the contracts
whether such operations are performed by Tenant’s Contractors or by anyone
directly or indirectly employed by any of them.

 

(iii)                               Comprehensive Automobile
Liability Insurance, including the ownership, maintenance and operation of any
automotive equipment, owned, hired, or non-owned in an amount not less than
$500,000.00 for each person in one accident, and $1,000,000.00 for injuries
sustained by two or more persons in any one accident and property damage liability
in an amount not less than $1,000,000.00 for each accident.  Such insurance shall insure Tenant’s
Contractors against any and all claims for bodily injury, including death
resulting therefrom, and damage to the property of

 

 

others arising from its operations under the contracts, whether such
operations are performed by Tenant’s Contractors, or by anyone directly or
indirectly employed by any of them.

 

(iv)                              “All-risk” builder’s risk
insurance covering Tenant’s Work to the full insurable value thereof.  This insurance shall include the interests
of Landlord and Tenant (and their respective contractors and subcontractors of
any tier to the extent of any insurable interest therein) in Tenant’s Work and
shall insure against the perils of fire and extended coverage and shall include
“all-risk” builder’s risk insurance for physical loss or damage including,
without duplication of coverage, theft, vandalism and malicious mischief.  If portions of Tenant’s Work are stored off
the site of the Building or in transit to said site are not covered under said
“all-risk” builder’s risk insurance, then Tenant shall effect and maintain
similar property insurance of such portions of Tenant’s Work.  Any loss insured under said “all-risk”
builder’s risk insurance is to be adjusted with Landlord and Tenant and made
payable to Landlord, as trustee for the insured, as their interests may appear.

 

All policies (except Tenant's Worker’s compensation policy) shall be
endorsed to include as additional insured parties the parties listed on, or
required by, the Lease to be named as additional
insureds, Landlord and Landlords’ managing agent, Lincoln Property Company
Commercial, Inc., and their respective members, partners, directors, officers,
employees and agents, and such additional persons as Landlord may designate to
Tenant in writing.  The waiver of
subrogation provisions contained in the Lease shall apply to all insurance
policies (except Tenant’s Workmen’s compensation policy) to be obtained by
Tenant pursuant to this paragraph.  The
insurance policy endorsements shall also provide that all additional insured
parties shall be given thirty (30) days’ prior written notice of any reduction,
cancellation or non-renewal of coverage (except that ten (10) days’ notice
shall be sufficient in the case of cancellation for non-payment of premium) and
shall provide that the insurance coverage afforded to the additional insured
parties thereunder shall be primary to any insurance carried independently by
said additional-insured parties.  Additionally, where applicable, each policy shall contain a
cross-liability and severability of interest clause.

 

B.                                     Without limitation
of the indemnification provisions contained in the Lease, to the fullest extent
permitted by law, Tenant agrees to indemnify, protect, defend and hold harmless
Landlord, the parties listed, or required by the Lease to be named as
additional insureds, and their respective members, partners, directors,
officers, employees, contractors and agents, from and against all claims,
liabilities, losses, damages and expenses of whatever nature arising out of or
in connection with Tenant’s Work or the entry of Tenant or Tenant’s Contractors
into the Building and the Suite LL2-005 Expansion Space, including, without
limitation, mechanic’s liens, the cost of any repairs to the Suite LL2-005
Expansion Space or Building necessitated by activities of Tenant or Tenant’s

 

 

Contractors, bodily injury to persons (including, to the maximum extent
provided by law, claims arising under the Illinois Structural Work Act) or
damage to the property of Tenant, its employees, agents, invitees, licensees or
others, except to the extent caused by the negligence or willful misconduct of
Landlord, its agents, employees or contractors.  It is understood and agreed that the foregoing indemnity shall be
in addition to the insurance requirements set forth above and shall not be in
discharge of or in substitution for same or any other indemnity or insurance
provision of the Lease but shall be subject to the terms of Section 13 of
the original Lease.

 

5.                                       Cost of Tenant’s Work; Final Documentation.

 

Tenant shall have sole responsibility for the payment of the total cost
of the Tenant’s Work and shall pay for same on a timely basis.  Within thirty (30) days after final
completion and installation of the Tenant’s Work, Tenant shall submit the
following documentation to Landlord:

 

(i)                                     A statement in
writing under oath signed by Tenant stating the various contracts entered into by Tenant for the
Tenant’s Work and with respect to each: the total contract price of all labor,
work, services and materials;

 

(ii)                                  A statement in
writing under oath or verified by affidavit of Tenant’s Contractor stating: the
names of all persons, firms, associations, corporations or other parties by
whom labor, materials, services or work will be rendered or furnished pursuant
to the contract with Tenant’s Contractor; the nature of labor, work, services
and materials to be rendered or furnished by each of the foregoing; the amounts
paid for such labor, work, services and materials;

 

(iii)                               Originals of final
waivers of lien from each of Tenant’s Contractors and all materialmen and
vendors from all parties performing labor or supplying materials or services in
connection with the Tenant’s Work, showing that all of said parties have been
compensated in full and waiving all liens in connection with the Suite LL2-005
Expansion Space and Building.

 

(iv)                              Such other documentation
with respect to tenant’s Work and Tenant’s payment of the cost thereof as Landlord’s
lender may reasonably request.

 

6.                                       Miscellaneous.

 

A.                                   Except as expressly
set forth herein, Landlord has no other agreement with Tenant and has no other
obligation to do any other work or pay any amounts with respect to the Suite
LL2-005 Expansion Space. Any other work

 

 

in the Suite LL2-005 Expansion Space which may be permitted by Landlord
pursuant to the terms and conditions of the Lease as amended by this Twelfth
Amendment shall be done at Tenant’s sole cost and expense and in accordance with
the terms and conditions of the Lease as amended by this Twelfth Amendment.

 

B.                                     This Workletter
shall not be deemed applicable to any additional space added to the Premises at
any time or from time to time, whether by any option under the Lease as amended
by this Twelfth Amendment or otherwise, or to any portion of the Premises or
any additions thereto in the event of a renewal or extension of the initial term of this Lease,
whether by any option under the Lease as amended by this Twelfth Amendment or
otherwise, unless expressly so provided in the Lease as amended by this Twelfth
Amendment or any amendment or supplement thereto.

 

C.                                     The failure by
Tenant to pay any monies due Landlord or perform any obligation of Tenant
pursuant to this Workletter within the time period herein stated shall be
deemed a default in under the terms of the Lease as amended by this Twelfth
Amendment for which Landlord shall be entitled to exercise all remedies
available to Landlord for such default. 
All late payments shall be subject to late charges and bear interest
pursuant to Article 3.3 of the Lease.

 

D.                                    This Workletter is
expressly made a part of the Lease as amended by this Twelfth Amendment and is
subject to each and every term and condition thereof, including, without limitation,
the limitations of liability set forth therein.

 

E.                                      Tenant shall be
solely responsible to determine at the site all dimensions of the Suite LL2-005
Expansion Space and the Building which may affect any work that may be
performed by Tenant or any of Tenant’s Contractors hereunder.

 

F.                                      Time is of the
essence of this Workletter and of each and every provision hereof.

 

 

THIRTEENTH
AMENDMENT TO OFFICE LEASE

 

THIS
THIRTEENTH MENDMENT TO OFFICE LEASE (“Thirteenth
Amendment”) is made as of the 27th day of September, 2001, by and
between LINCOLN-CARLYLE
HARTFORD, L.L.C., a Delaware limited liability company (“Landlord”),
and TOWNSEND
ANALYTICS, LTD., an Illinois corporation (“Tenant”).

 

WITNESSETH:

 

A.                                   Landlord’s
predecessor-in-interest and Tenant entered into a certain lease dated as of
June 3, 1996, as amended by a letter agreement dated August 28, 1996
and by Amendments dated as of December 20, 1996, July 17, 1997,
July 31, 1998, November 12, 1998, July 1, 1999, August 27,
1999, September 10, 1999, May 1, 2000, August 31, 2000,
October 12, 2000, October 31, 2000 and April 13, 2001 (the
original Lease, as amended by such letter agreement and Amendments is referred
to herein as the “Lease”), whereby Landlord’s predecessor-in-interest or
Landlord leased to Tenant certain premises consisting of Suite Nos. 1550
(11,828 rentable square feet), 1925 (9,393 rentable square feet), 2000 (4,215 rentable square feet), 2040
(9,939 rentable square feet), 2012 (3,241 rentable square feet), 2020 (2,852 rentable square feet), 2015
(3,010 rentable square feet), 2010 (2,033 rentable square feet), 1900 (6,972
rentable square feet) and 1720 (4,474 rentable square feet), 1730 (3251
rentable square feet), 1725 (4,250 rentable square feet), 1722 (989 rentable
square feet) and LL2-005 (10,624 rentable square feet) on the fifteenth (15th), seventeenth (17th),
nineteenth (19th) and twentieth (20th) floors and Lower
Level 2 of the building located at 100 South Wacker Drive, Chicago, Illinois
60606 (the “Building”) for a term expiring on August 31, 2006, (the
“Termination Date”), Suite 1710 (3,801 rentable square feet) and Suite 1506
(3,628 rentable square feet) in the Building for a term ending October 31,
2001(collectively, the “Existing Premises”).

 

B.                                     Landlord
and Tenant desire to amend the Lease to expand the Premises within the
Building, to extend the term of the Lease as to Suite 1710 of the Existing
Premises, and to modify certain other provisions as set forth herein but not
otherwise.

 

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

 

1.                                       Definitions.  Each capitalized term used in this
Thirteenth Amendment shall have the same meaning as is ascribed to such
capitalized term in the Lease, unless otherwise provided for herein.

 

2.                                       Extension
of Term - Suite 1710. 
The term of the Lease as to Suite 1710 of the Existing Premises is
hereby extended for a period of six (6)  months commencing on
November 1, 2001 and ending on April 30, 2002 (the “Suite 1710
Extension Term”), subject to early termination by either Landlord or Tenant
effective on the last day of any month upon not less than thirty (30) days’
prior written notice to the other party.

 

3.                                       Expansion
of Premises.  Commencing
on the earlier to occur of (i) February 28, 2002 (which date shall be
extended by one (1) day for each day beyond December 1,

 

 

2001 that Landlord delivers possession of the Suite LL2-34 Expansion
Space to Tenant) or (ii) the date of substantial completion of Tenant’s Work in
the Suite LL2-34 Expansion Space (as defined in the Workletter attached hereto
as Exhibit B-1) (the “Suite LL2-34 Expansion Effective Date”), the Premises
shall consist of the space then occupied by Tenant in the Building and an
additional one thousand two hundred eighty (1,280) square feet of rentable area
of Lower Level 2 (Suite LL2-34) of the Building as shown as hatched on Exhibit
A-1 attached hereto and incorporated herein (such additional space being
referred to herein as the “Suite LL2-34 Expansion Space”).  Tenant acknowledges that in order to
facilitate the aforesaid expansion as contemplated hereby, it will be necessary
for Landlord to relocate the existing tenant of the Suite LL2-34 Expansion
Space to other space within the Building, and in consideration thereof, Tenant
agrees to reimburse to Landlord within thirty (30) days after written demand,
as additional rent hereunder, the costs incurred by Landlord to relocate such
existing tenant’s property to such other space and to install certain
electrical wiring, outlets and fixtures in such other space comparable to those
currently in the Suite LL2-34 Expansion Space. 
Landlord shall use all commercially reasonable efforts to deliver
possession of the Suite LL2-34 Expansion Space to Tenant on December 1,
2001.

 

4.                                       Rent.

 

(a)                                  Suite
LL2-34.  Commencing on
the Suite LL2-34 Expansion Effective Date and continuing to and including the
Termination Date, Annual Rent for the Suite LL2-34 Expansion Space and Monthly
Installments thereof shall be as set forth below payable together with the Rent
for the remainder of the Premises in the manner provided in Article 3 of
the Lease:

 

	
  Period

  	
   

  	
  Annual
  Rent

  	
   

  	
  Monthly

  Installments

  	
   

  
	
  Suite LL2-34 Expansion Effective Date -
  08/31/02

  	
   

  	
  $

  	
  24,960.00

  	
   

  	
  $

  	
  2,080.00

  	
   

  
	
  09/01/02 - 08/31/03

  	
   

  	
  $

  	
  25,708.80

  	
   

  	
  $

  	
  2,142.40

  	
   

  
	
  09/01/03 - 08/31/04

  	
   

  	
  $

  	
  26,480.06

  	
   

  	
  $

  	
  2,206.67

  	
   

  
	
  09/01/04 - 08/31/05

  	
   

  	
  $

  	
  27,274.47

  	
   

  	
  $

  	
  2,272.87

  	
   

  
	
  09/01/05 - 08/31/06

  	
   

  	
  $

  	
  28,092.70

  	
   

  	
  $

  	
  2,341.06

  	
   

  

 

(b)                                 Suite
1710.  During the Suite
1710 Extension Term, Annual Rent for Suite 1710 and the Monthly Installments
thereof shall be as set forth below, payable in the manner provided in
Article 3 of the Lease:

 

	
  Period

  	
   

  	
  Annual
  Rent

  	
   

  	
  Monthly
  Installments

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  11/01/01 - 04/30/02

  	
   

  	
  $

  	
  117,831.00

  	
   

  	
  $

  	
  9,819.25

  	
   

  

 

 

(c)                                  There
shall be no abatement of Annual Rent under or by reason of this Thirteenth
Amendment.

 

5.                                       Tenant’s
Proportionate Share.  For
the purposes of determining Tenant’s Proportionate Share of Direct Expenses and
Taxes pursuant to Article 4 of the Lease, there shall be no increase in
Tenant’s Proportionate Share by reason of the expansion of the Premises
hereunder to include the Suite LL2-34 Expansion Space therein or by reason of
the extension of the term as to Suite 1710.

 

6.                                       Conditions
of Premises.   Tenant’s
execution and delivery of this Thirteenth Amendment shall be conclusive
evidence that the Existing Premises and the Suite LL2-34 Expansion Space were
in good order and satisfactory condition as of the date hereof.  No agreement of Landlord to alter, remodel,
decorate, clean or improve the Existing Premises and the Suite LL2-34 Expansion
Space or the Building and no representation or warranty regarding the condition
of the Existing Premises, the Suite LL2-34 Expansion Space or the Building or regarding
any other matter of any kind or nature has been made by or on behalf of
Landlord to Tenant under or by reason of this Thirteenth Amendment, and
furthermore, Tenant agrees to accept possession of the Suite LL2-34 Expansion
Space in “as is” condition subject to Tenant’s obligation to improve the Suite
LL2-34 Expansion Space as provided in the Workletter attached hereto as Exhibit
B-1

 

7.                                       Consent
to Assignment and/or Sublease to Certain Affiliates of Tenant.  Landlord acknowledges that Tenant may elect,
from time to time, to sublease, and/or assign the Lease as amended hereby, as
to all or portions of the Premises (including portions of the Existing Premises
or the Suite LL2-34 Expansion Spaces as to which Tenant has commenced paying
Rent), to Terra Nova Trading, L.L.C. and/or Archipelago Holdings, L.L.C., each
of which is an affiliate of the principals of Tenant, or their respective
subsidiaries or affiliates (collectively, a “Permitted Transfer”), provided
that at least fifteen (15) days
prior to the effective date of any such proposed assignment, Tenant shall
permit Landlord or its designated agents to examine the current financial
statements of Tenant and the proposed assignee for Landlord’s approval (which
shall not be withheld provided such financial statements show that the proposed
assignee or subtenant is of at least equivalent financial condition (i.e.,
tangible net worth and current net income) as Tenant as determined by Landlord
in its reasonable business judgment) and that the proposed assignment or
sublease otherwise complies with the provisions of Article 10 of the Lease
which are not inconsistent with the foregoing provisions of this Section.
Except for a Permitted Transfer, all other assignments, sublettings, transfers,
etc. with respect to the Lease as amended hereby and the Premises which are or
would be covered by the provisions of Article 10 of the Lease as amended
hereby, shall remain subject to the provisions thereof.

 

8.                                       Renewal
of Term Applicable to Expanded Premises.  Any renewal of the term of the Lease as
exercised by Tenant pursuant to Article 45 of the Lease as amended hereby
shall be applicable to the Existing Premises as expanded by this Thirteenth
Amendment.

 

9.                                       Real
Estate Broker.  Tenant
represents that, except for Lincoln

 

 

Property Company Commercial, Inc. (“Broker”), Tenant has not dealt with
any real estate broker, salesperson or finder in connection with this Twelfth
Amendment and no such person initiated or participated in the negotiation of
this Thirteenth Amendment or is entitled to any fee or commission in connection
herewith. Tenant hereby agrees to indemnify and hold Landlord, its property
manager and their respective agents and employees harmless from and against any
and all damages, liabilities, claims, actions, costs and expenses (including
attorneys’ fees) arising from either (i) any claims or demands of any broker,
other than Broker, salesperson or finder for any tee or commission alleged to
be due such broker, salesperson or finder in connection with this Thirteenth
Amendment or (ii) a claim of,  or right to, any lien under the
Statutes of the State of Illinois relating to real estate broker liens with
respect to any such broker, salesperson or finder retained by Tenant.

 

10.                                 Submission.  Submission of this Thirteenth Amendment by
Landlord or Landlord’s agent, or their respective agents or representatives, to
Tenant for examination and/or execution shall not in any manner bind Landlord
and no obligations on Landlord shall arise under this Thirteenth Amendment unless
and until this Thirteenth Amendment is fully signed and delivered by Landlord
and Tenant; provided, however, the execution and delivery by Tenant of this
Thirteenth Amendment to Landlord or Landlord’s agent, or their respective
agents or representatives, shall constitute an irrevocable offer by Tenant to
extend the lease term of the Lease on the terms and conditions herein
contained, which offer may not be revoked for ten (10) days after such
delivery.

 

11.                                 Binding
Effect; Conflict.  The
Lease, as amended hereby, shall continue in full farce and effect, subject to
the terms and provisions thereof and hereof. In the event of any conflict
between the terms of the Lease and the terms of this Thirteenth Amendment, the
terms of this Thirteenth Amendment shall control. This Thirteenth Amendment
shall be binding upon and inure to the benefit of Landlord, Tenant and their
respective successors and permitted assigns.

 

12.                                 Limitation
of Liability.  Neither
Landlord nor any officer, director, member or employee of Landlord nor any
owner of the Building, whether disclosed or undisclosed, shall have any
personal liability with respect to any of the provisions of the Lease, as
hereby amended, or the Premises, and if Landlord is in breach or default with
respect to Landlord’s obligations under the Lease, as hereby amended, or
otherwise, Tenant shall look solely to the equity interest of Landlord in the
Building for the satisfaction of Tenant’s remedies or judgments.

 

 

IN WITNESS WHEREOF, this  Thirteenth
Amendment is executed as of the day and year aforesaid.

 

 

	
  TENANT:

  	
  LANDLORD:

  
	
   

  	
   

  
	
  TOWNSEND ANALYTICS, LTD.,

  	
  LINCOLN-CARLYLE HARTFORD, L.L.C.,

  
	
  an Illinois corporation

  	
  a Delaware limited liability company

  
	
   

  	
   

  
	
  By:

  	
  /s/MarrGwen Townsend

  	
   

  	
  By:

  	
  Lincoln Hartford, LLC,
  a Delaware

  
	
   

  	
   

  	
   limited company, Managing Member

  
	
   

  	
   

  
	
  Its: 

  	
   

  	
   

  	
   By: 

  	
  Lincoln Investors Group 3, Inc., a

  
	
   

  	
   

  	
  Texas corporation, Managing Member

  
	
   

  	
  By:

  	
  /s/John B. Grissim

  	
   

  
	
   

  	
  Name:

  	
  John B. Grissim

  	
   

  
	
   

  	
   

  	
  Vice President

  
								

 

 

EXHIBIT
A-1

 

FLOOR
PLAN OF THE SUITE LL2-34 EXPANSION SPACE

 

[Graphics]

 

 

EXHIBIT
B

 

WORKLETTER
(SUITE LL2-34)

 

 

1.                                       Definitions.  Terms which, are defined elsewhere in this
Thirteenth Amendment shall have the same meanings in this Workletter (except as
otherwise provided in this Workletter). Terms which are defined in this
Workletter shall have the same meanings elsewhere in this Thirteenth Amendment
(except as otherwise provided in this Thirteenth Amendment). In addition to the
terms defined elsewhere in this Workletter, the following terms shall have the
following meanings:

 

A.                                                                                   “Mechanical
System Plans” means the final working drawings, plans and specification for the
mechanical, sprinkler, heating, air conditioning, electrical and plumbing
systems in the Suite LL2-34 Expansion Space, which shall be prepared by
Tenant’s Engineer based upon and in accordance with the Space Plans and fully
coordinated with the remainder of the Working Plans, and which shall contain
sufficient detail and shall be otherwise suitable in all respects for
submission to the building department to obtain a building permit.

 

B.                                                                                     “Space
Plans” means plans, drawings, plans and specifications prepared by Tenant’s
Architect showing the intended design, character, materials and finishes of the
Suite LL2-34 Expansion Space, including partition and door locations, which
shall conform to Building standards, all in sufficient detail to enable the
Working Plans (including the Mechanical System Plans) to be prepared.

 

C.                                                                                     “Substantial
completion” or “substantially completed” or words of similar import means that
the work in question has been sufficiently completed such that it is suitable
for its intended purpose.

 

D.                                                                                    “Tenant’s
Architect” means The Environments Group.

 

E.                                                                                      “Tenant’s
Contractor” means a licensed general contractor, approved by Landlord as
provided in Paragraph 3.D below and hired by Tenant to perform Tenant’s Work.

 

F.                                                                                      “Tenant’s
Contractors” means Tenant’s Contractor, agents, contractor, licensees and
invitees and their respective agents, subcontractors and employees.

 

G.                                                                                     “Landlord’s
Engineer” means ESD.

 

H.                                                                                    “Tenant
Plans” means the Space Plans, the Mechanical System Plans and the Working
Plans.

 

I.                                                                                         “Tenant’s
Work” shall means the leasehold improvements to be installed in the Suite
LL2-34 Expansion Space by Tenant’s Contractor pursuant to the Tenant Plans and
the terms and provisions of this Workletter.

 

 

J.                                                                                        “Working
Plans” means the final working drawings, plans and specifications (including
the Mechanical System Plans) for all work to be performed by Tenant in the
Suite LL2-34 Expansion Space, as prepared by Tenant’s Architect and tenant’s
Engineer which shall be based upon and in accordance with the Space Plans, and
which shall contain sufficient detail and shall be otherwise suitable in all
respects for submission to the building department of the City of Chicago to
obtain a building permit.

 

2.                                       Preparation
and Approval of Tenant Plans.

 

A.                                   Tenant has arranged
or will arrange with Tenant’s Architect for the preparation of the Space Plans
and the Working Plans and has arranged or will arrange with Tenant’s Engineer
for the preparation of the Mechanical System Plans, all at Tenant’s sole cost
and expense.  Tenant shall cause
Tenant’s Architect to prepare the Space Plans and submit the Space Plans to
Landlord for Landlord’s review and approval.

 

B.                                     Within five (5) business days after the later to
occur of (i) the date Landlord delivers a fully executed original of this
Thirteenth Amendment to Tenant or (ii) the date Landlord has received the Space
Plans or any revised Space Plans required hereunder, Landlord shall give Tenant
written notice of Landlord’s approval or disapproval thereof, and in the event
of disapproval, such notice shall specify the reasons for disapproval.  In the event Landlord fails to give Tenant
written notice of Landlord’s approval or disapproval of the Space Plans or any
revised Space Plans within said five (5)
business day period, such Space Plans or revised Space Plans, as the
case may be, shall be deemed approved by Landlord.  Within ten (10) business days after Tenant has received written
notice from Landlord in accordance herewith that Landlord disapproves the Space
Plans or any revised Space Plans required hereunder, Tenant shall cause the
Space Plans or any revised Space Plans required hereunder, as the case may be,
to be revised by Tenant’s Architect and resubmitted to Landlord for Landlord’s
review and approval.

 

C.                                     After either (i)
Landlord has given Tenant written notice that Landlord approves the Space Plans
or any revised Space Plans required hereunder or (ii) Landlord is deemed to
have approved the Space Plans or any revised Space Plans required hereunder (as
provided in Paragraph 2.B above), Tenant shall cause the Working Plans to be
prepared by Tenant’s Architect and Tenant’s Engineer and submitted to Landlord
for Landlord’s review and approval. Within five (5) business days after Landlord’s receipt of the Working Plans
or revised Working Plans required hereunder, Landlord shall give Tenant written
notice of Landlord’s approval or disapproval thereof, and in the event of
disapproval, such notice shall specify the reason therefor, whereupon Tenant
shall direct Tenant’s Architect and Tenant’s Engineer to prepare revised
Working Plans meeting Landlord’s objections, which revised Working Plans shall,
within five (5) business days
thereafter, be prepared by Tenant’s Architect and Tenant’s Engineer and
resubmitted to Landlord for review and approval as required hereby.

 

D.                                    If Tenant desires a
change (i) in the Tenant Plans, or any revised Tenant Plans required hereunder,
after Landlord has approved same, or (ii) in the Tenant’s Work

 

 

(any such change being a “Change”), Tenant shall give Landlord written
notice of the Change, specifying the Change in reasonable detail.  Within five (5) business days after Landlord
has received Tenant’s written notice of the Change or any modified Change
permitted hereunder, Landlord shall give Tenant written notice of its approval
or disapproval thereof, and in the event of disapproval, such notice shall
specify the reasons for disapproval.  If
Landlord disapproves of a Change or any modified Change permitted hereunder,
Tenant may modify the Change or such permitted modified Change, as the case may
be, and give Landlord written notice thereof. 
After Landlord has approved a Change or any modified Change permitted
hereunder, within five (5) business
days thereafter, Tenant shall cause the Working Plans to be revised by Tenant’s
Architect and Tenant’s Engineer to reflect the Change or such modified Change
and resubmitted to Landlord for Landlord’s review and approval in accordance
with the process set forth in Paragraph 2.D. 
Notwithstanding the foregoing, Tenant shall be deemed to have initiated
and Landlord shall be deemed to have approved any Change which may be required
to cause Tenant’s Work to comply with all applicable laws, regulations, codes
and ordinances and/or with the requirements of any building inspector with
jurisdiction over Tenant’s Work.

 

E.                                      Landlord agrees
that it will not unreasonably withhold its approval of the Tenant’s Plans or
any revised Tenant’s Plans required hereunder, or any Change or modified Change
permitted hereunder provided, however, Landlord shall not be deemed to have
acted unreasonably if it withholds its consent because, in Landlord’s opinion, any
portion of Tenant’s Work covered by the Tenant’s Plans or any revised Tenant’s
Plans required hereunder, or any such Change (i) is likely to adversely affect
the structural, mechanical, electrical, plumbing, HVAC, life safety,
communications, security or other operating systems of the Building or the
safety of its occupants, (ii) would increase the costs or expenses incurred by
or on behalf of Landlord for owning, managing, operating, maintaining or
repairing the Building, (iii) would impair Landlord’s ability to furnish
services to Tenant or any other tenant of the Building, (iv) would violate any
Laws (as hereinafter defined) or provisions of the Lease as amended by this
Thirteenth Amendment, (v) would adversely affect the appearance of the
Building, (vi) would adversely affect the premises of any other tenant of the
Building or such tenant’s use or occupancy thereof, (vii) is prohibited by the
provisions of any mortgage or ground lease encumbering the Building, or (viii)
fails to conform to Building standards for design, character, materials or
finishes. The foregoing reasons shall not be exclusive of the reasons for which
Landlord may withhold consent, it being understood and agreed that such other
seasons may be similar or dissimilar to the foregoing.

 

F.                                      The cost of the
Tenant Plans and any revisions thereof required hereunder shall be deemed to be
part of the cost of Tenant’s Work to be paid as provided in Paragraph 5 below.

 

G.                                     Notwithstanding
the fact that Landlord may have approved a Change to Tenant’s Plans as provided
above, Tenant shall be solely responsible for (i) any increased cost of
Tenant’s Work caused by such Change and (ii) any delay in the substantial or
final completion of Tenant’s Work as a result of any such Change (and the Suite
LL2-34

 

 

Expansion Effective Date shall not be delayed by reason thereof).

 

3.                                       Performance
of Tenant’s Work.

 

A.                                   After Landlord has
approved the Working Plans or any revised Working Plans, Tenant shall cause the
Tenant’s Contractor to perform the Tenant’s Work covered by the Working Plans
or such revised Working Plans. After Landlord has approved any revised Working
Plans required hereunder which reflect a Change or a permitted modified Change
in the Tenant’s Work, Tenant shall promptly, subject to the terms of Paragraph
2 above, cause Tenant’s Contractor to incorporate such Change into the Tenant’s
Work. Prior to commencing Tenant’s Work (or incorporating any Change therein),
Tenant shall submit to Landlord a reasonably detailed estimate of the total
cost of Tenant’s Work (including any such Change).

 

B.                                     Tenant shall cause
the Tenant’s Work, to be done in a first class workerlike manner using only
good grades of materials and shall comply with all governmental laws,
ordinances, codes, rules and regulations applicable at the time of the
performance of the Tenant’s Work, including, but not limited to, requirements
of Lessor’s fire insurance underwriters (collectively “Laws”).

 

C.                                     Tenant shall, at
its own cost and expense, obtain all required building permits for the
performance of Tenant’s Work.  Tenant’s
failure to obtain such permits shall not cause a delay in the Suite LL2-34
Expansion Effective Date or the obligation to pay Annual Rent or any other
obligations set forth in the Lease as amended by this Thirteenth Amendment with
respect to the Suite LL2-34 Expansion Space.

 

D.                                    Tenant’s
Contractors shall be licensed contractors, possessing good labor relations,
capable of performing quality workmanship and working in harmony with
Landlord’s contractors and subcontractors and with other contractors and
subcontractors in the Building. Landlord has the right to approve or disapprove
Tenant’s Contractors which approval shall not be unreasonably withheld. Without
any way limiting the grounds on which Landlord may reasonably withhold approval
of any of Tenant’s contractors, it shall be reasonable for Landlord to withhold
its approval of any of Tenant Contractors performing electrical, plumbing
and/or mechanical work, which have not previously been approved or permitted by
Landlord to perform such work in the Building or which in the course of
performing such work previously in the Building caused disharmony with any
other construction or other work in the Building in order not to adversely
affect construction work being performed by or for Landlord or its tenants.

 

E.                                      Landlord shall
have the right, but not the obligation, after written notice to Tenant of
Landlord’s intention to do so, to perform, on behalf of and for the account of
Tenant, subject to prompt reimbursement by Tenant upon demand, any work which
pertains to modifications to the structural, mechanical, plumbing, electrical,
HVAC, life safety or other operating systems of the Building to accommodate or
connect to Tenant’s Work.

 

 

F.                                      Tenant shall use
only new, first-class materials in Tenant’s Work, except where explicitly shown
in the Tenant Plans. All of Tenant’s Work shall be done in a good and
workmanlike manner. Tenant shall obtain from Tenant’s Contractor warranties of
at least one (1) year duration from the completion of Tenant’s Work against
defects in workmanship and materials on all work performed and equipment
installed in the Suite LL2-34 Expansion Space as part of Tenant’s Work which
modifies or directly affects the structural, mechanical, plumbing, electrical,
HVAC, life safety or other operating systems of the Building.

 

G.                                     Tenant
and Tenant’s Contractors shall make all reasonable efforts, and take all steps
appropriate to assure that all construction activities undertaken for the
performance of Tenant’s Work comport with the reasonable expectations of all
tenants and other occupants of a fully-occupied (or substantially fully
occupied) first-class office building and do not unreasonably interfere with
the operation of the Building or with other tenants and occupants of the
Building. In any event, Tenant and Tenant’s Contractors shall comply with all
rules and regulations existing from time to time at the Building.  Tenant and Tenant’s Contractors shall take all
precautionary steps to minimize dust, noise and construction traffic, and to
protect their facilities and the facilities of others affected by Tenant’s Work
and to properly police same. 
Construction equipment and materials are to be kept within the Suite
LL2-34 Expansion Space and delivery and loading of equipment and materials
shall be done at such locations and at such time as Landlord shall reasonably
direct so as not to burden the construction or operation of the Building. If
and as required by Landlord, the Suite LL2-34 Expansion Space shall be sealed
off from the balance of the space on the floor containing the Suite LL2-34
Expansion Space so as to minimize the dispersal of dirt, debris and noise.

 

H.                                    Landlord shall have
the right to order Tenant or any of Tenant’s Contractors who violate the
requirements imposed on such party in performing work to cease work until such
violation is remedied and if such violation is not remedied within five (5) days after written notice thereof
from Landlord to Tenant, to remove such party’s equipment and employees from
the Building.  No such action by
Landlord shall delay the Suite LL2-34 Expansion Effective Date or the
obligation to pay Annual Rent and other charges or any other obligations set
forth in the Lease as amended by this Thirteenth Amendment with respect to the
Suite LL2-34 Expansion Space.

 

I.                                         Utility costs
or charges for any after-hours service (including HVAC, hoisting or freight
elevator and the like) to the Suite LL2-34 Expansion Space shall be the
responsibility of Tenant from the date Tenant is obligated to commence or
commences Tenant’s Work and shall be paid for by Tenant upon demand at
Landlord’s standard rates then in effect. 
Tenant shall apply and pay for all utility meters required.  Tenant shall pay for all support services
provided by Tenant’s Contractors at Tenant’s request or at Landlord’s
discretion resulting from breaches or defaults by Tenant under this
Workletter.  All use of freight
elevators is subject to reasonable scheduling by Landlord and the rules and
regulations of the Building. Tenant shall arrange and pay for removal of
construction debris and shall not place debris in the Buildings waste
containers.  If required by Landlord,
Tenant shall sort and separate its waste and debris for recycling

 

 

and/or environmental law compliance purposes.

 

J.                                        Tenant shall
permit access to the Suite LL2-34 Expansion
Space, and Tenant’s Work shall be subject to inspection, by Landlord and
Landlord’s architects, engineers, contractors and other representatives, at all
times during the period in which Tenant’s Work is being constructed and
installed an following completion of Tenant’s Work provided that such
inspection shall be conducted in a manner that reasonably minimizes
interference with the conduct of Tenant’s Work.

 

K.                                    Tenant shall
proceed with its work expeditiously, continuously and efficiently.  Tenant shall notify Landlord upon completion
of Tenant’s Work and shall furnish Landlord and Landlord’s title insurance
company with such further documentation as may be required under Paragraph 5
below.

 

L.                                      Tenant shall have
no authority to deviate from the Tenant Plans in performance of Tenant’s Work,
except as authorized by Landlord and its designated representative in
writing.  Tenant shall furnish to
Landlord “as-built” drawings of Tenants Work within sixty (60) days after
completion of Tenant’s Work.

 

M.                                 Landlord shall have
the right to run utility lines, pipes, conduits, duct work and component parts
of all mechanical and electrical systems where necessary or desirable through
the Suite LL2-34 Expansion Space, to repair, alter, replace or remove the same,
and to require Tenant to install and maintain proper access panels thereto
provided that none of the foregoing materially interferes with Tenant’s use and
occupancy (as permitted by the Lease as amended by this Thirteenth Amendment)
of the Suite LL2-34 Expansion Space.

 

N.                                    Tenant shall impose
on and enforce all applicable terms of this Workletter against Tenant’s
Architect and Tenant’s Contractors.

 

4.                                       Insurance
and Indemnification.

 

A.                                   In addition to any
insurance which may be required under the Lease, Tenant shall secure, pay for
and maintain or cause Tenant’s Contractors to secure, pay for and maintain
during the performance of Tenant’s Work within the Building and the Suite LL2-34
Expansion Space, insurance in the following minimum coverages and the following
minimum limits of liability:

 

(i)                                     Worker’s
Compensation and Employer’s Liability Insurance with limits of not less than
$1,000,000.00, or such higher amounts as may be required from time to time by
any Employee Benefit Acts or other statutes applicable where Tenant’s Work is
to be performed, and in any event sufficient to protect Tenant’s Contractors
from liability under the aforementioned acts.

 

(ii)                                  Comprehensive General
Liability Insurance (including Contractors’ Protective Liability) in an amount
not less than $5,000,000.00 per

 

 

occurrence, whether involving bodily injury liability (or death
resulting therefrom) or property damage liability or a combination thereof with
a minimum aggregate limit of $5,000,000.00. Such insurance shall provide for
explosion and collapse, completed operations coverage and broad form blanket
contractual liability coverage and shall insure Tenant’s Contractors against
any and all claims for bodily injury, including death resulting therefrom, and
damage to the property of others and arising from its operations under the
contracts whether such operations are performed by Tenant’s Contractors or by
anyone directly or indirectly employed by any of them.

 

(iii)                               Comprehensive Automobile
Liability Insurance, including the ownership, maintenance and operation of any
automotive equipment, owned, hired, or non-owned in an amount not less than
$500,000.00 for each person in one accident, and $1,000,000.00 for injuries
sustained by two or more persons in any one accident and property damage
liability in an amount not less than $1,000,000.00 for each accident. Such
insurance shall insure Tenant’s Contractors against any and all claims for
bodily injury, including death resulting therefrom, and damage to the property
of others arising from its operations under the contracts, whether such
operations are performed by Tenant’s Contractors, or by anyone directly or
indirectly employed by any of them.

 

(iv)                              “All-risk” builder’s risk
insurance covering Tenant’s Work to the full insurable value thereof. This
insurance shall include the interests of Landlord and Tenant (and their
respective contractors and subcontractors of any tier to the extent of any
insurable interest therein) in Tenant’s Work and shall insure against the
perils of fire and extended coverage and shall include “all-risk” builder’s
risk insurance for physical loss or damage including, without duplication of
coverage, theft, vandalism and malicious mischief.  If portions of Tenant’s Work are stored off the site of the
Building or in transit to said site are not covered under said “all-risk”
builder’s risk insurance, then Tenant shall effect and maintain similar property
insurance on such portions of Tenant’s Work. 
Any loss insured under said “all-risk” builder’s risk insurance is to be
adjusted with Landlord and Tenant and made payable to Landlord, as trustee for
the insureds, as their interests may appear.

 

All policies (except Tenant’s Worker’s compensation
policy) shall be endorsed to include as additional insured parties the parties
listed on, or required by, the Lease to be named as additional insureds,
Landlord and Landlords’ managing agent, Lincoln Property Company Commercial,
Inc., and their respective members, partners, directors, officers, employees
and agents, and such additional persons as Landlord may designate to Tenant in
writing.  The waiver of subrogation
provisions contained in the Lease shall apply to all insurance policies (except
Tenant’s Workmen’s compensation policy) to be obtained by Tenant pursuant to
this paragraph.  The insurance policy
endorsements shall also provide that all additional insured parties shall be
given thirty (30) days’ prior written notice of any reductions cancellation or
non-renewal of coverage (except that ten (10) days’ notice shall be sufficient
in the case of cancellation for non-payment of premium) and shall

 

 

provide that the insurance coverage afforded to the additional insured
parties thereunder shall be primary to any insurance carried independently by
said additional-insured parties. Additionally, where applicable, each policy
shall contain a cross-liability and severability of interest clause.

 

B.                                     Without limitation
of the indemnification provisions contained in the Lease, to the fullest extent
permitted by law, Tenant agrees to indemnify, protect, defend and hold harmless
Landlord, the parties listed, or required by, the Lease to be named as
additional insureds, and their respective members, partners, directors,
officers, employees, contractors and agents, from and against all claims,
liabilities, losses, damages and expenses of whatever nature arising out of or
in connection with Tenant’s Work or the entry of Tenant or Tenant’s Contractors
into the Building and the Suite LL2-34 Expansion Space, including, without
limitation, mechanic’s liens, the cost of any repairs to the Suite LL2-34
Expansion Space or Building necessitated by activities of Tenant or Tenant’s
Contractors, bodily injury to persons (including, to the maximum extent
provided by law, claims arising under the Illinois Structural Work Act) or
damage to the property of Tenant, its employees, agents, invitees, licensees or
others, except to the extent caused by the negligence or willful misconduct of
Landlord, its agents, employees or contractors. It is understood and agreed
that the foregoing indemnity shall be in addition to the insurance requirements
set forth above and shall not be in discharge of or in substitution for same or
any other indemnity or insurance provision of the Lease but shall be subject to
the terms of Section 13 of the original Lease.

 

5.                                       Cost of
Tenant’s Work; Final Documentation.

 

Tenant shall have sole responsibility for the
payment of the total cost of the Tenant’s Work and shall pay for same of a
timely basis. Within sixty (60) days after final completion and installation of
the Tenant’s Work, Tenant shall submit the following documentation to Landlord:

 

(i)                                     A statement in
writing under oath signed by Tenant stating the various contracts entered into
by Tenant for the Tenant’s Work and with respect to each: the total contract
price of all labor, work, services and materials;

 

(ii)                                  A statement in
writing under oath or verified by affidavit of Tenant’s Contractor stating: the
names of all persons, firms, associations, corporations or other parties by
whom labor, materials, services or work will be rendered or furnished pursuant
to the contract with Tenant’s Contractor; the nature of labor, work, services
and materials to be rendered or furnished by each of the foregoing; the amounts
paid for such labor, work, services and materials;

 

(iii)                               Originals of final
waivers of lien from each of Tenant’s Contractors and all materialmen and
vendors from all parties performing labor or supplying materials or services in
connection with the Tenant’s Work, showing that all of said parties have been
compensated in full and waiving all liens in connection with the Suite LL2-34
Expansion Space and Building.

 

 

(iv)                              Such other documentation
with respect to Tenant’s Work and Tenant’s payment of the cost thereof as
Landlord or Landlord’s lender may reasonably request.

 

6.                                       Miscellaneous.

 

A.                                                                                   Except
as expressly set forth herein, Landlord has no other agreement with Tenant and
has no other obligation to do any other work or pay any amounts with respect to
the Suite LL2-34 Expansion Space. Any other work in the Suite LL2-34 Expansion
Space which may be permitted by Landlord pursuant to the terms and conditions
of the Lease as amended by this Thirteenth Amendment shall be done at Tenant’s
sole cost and expense and in accordance with the terms and conditions of the
Lease as amended by this Thirteenth Amendment.

 

B.                                                                                     This
Workletter shall not be deemed applicable to any additional space added to the
Premises at any time or from time to time, whether by any option under the
Lease as amended by this Thirteenth Amendment or otherwise, or to any portion
of the Premises or any additions thereto in the event of a renewal or extension
of the initial term of this Lease, whether by any option under the Lease as
amended by this Thirteenth Amendment or otherwise, unless expressly so provided
in the Lease as amended by this Thirteenth Amendment or any amendment or
supplement thereto.

 

C.                                                                                     The
failure by Tenant to pay any monies due Landlord or perform any obligation of
Tenant pursuant to this Workletter within the time period herein stated shall
be deemed a default in under the terms of the Lease as amended by this
Thirteenth Amendment for which Landlord shall be entitled to exercise all
remedies available to Landlord for such default. All late payments shall be
subject to late charges and bear interest pursuant to Article 3.3 of the
Lease.

 

D.                                    This
Workletter is expressly made a part of the Lease as amended by this Thirteenth
Amendment and is subject to each and every term and condition thereof,
including, without limitation, the limitations of liability set forth therein.

 

E.                                                                                      Tenant
shall be solely responsible to determine at the site all dimensions of the
Suite LL2-34 Expansion Space and the Building which may affect any work that
may be performed by Tenant or any of Tenant’s Contractors hereunder.

 

F.                                                                                      Time
is of the essence of this Workletter and of each and every provision hereof.

 

 

FOURTEENTH
AMENDMENT TO OFFICE LEASE

 

[***]

 

*** The Fourteenth Amendment to Office Lease has been omitted in its
entirety and filed separately with the Securities and Exchange Commission.
Confidential treatment has been requested with respect to the omitted portions.

 

 

FIFTEENTH
AMENDMENT TO OFFICE LEASE

 

THIS
FIFTEENTH AMENDMENT TO OFFICE LEASE (“Fifteenth
Amendment”) is made as of the 30th day of April, 2002, by and
between LINCOLN-CARLYLE
HARTFORD, L.L.C., a Delaware limited liability company (“Landlord”),
and TOWNSEND
ANALYTICS, LTD., an Illinois corporation (“Tenant”).

 

WITNESSETH:

 

A.                                   Landlord’s
predecessor-in-interest and Tenant entered into a certain lease dated as of
June 3, 1996, as amended by a letter agreement dated August 28, 1996
and by Amendments dated as of December 20, 1996, July 17, 1997,
July 31, 1998, November 12, 1998, July 1, 1999, August 27,
1999, September 10, 1999, May 1, 2000, August 31, 2000,
October 12, 2000, October 31, 200  , and April 13,
2001 and two Amendments dated September 27, 2001 (the original Lease, as
amended by such letter agreement and Amendments is referred to herein as the
“Lease”), whereby Landlord’s predecessor-in-interest or Landlord leased to
Tenant certain premises consisting of Suite Nos. 1550 (11,828 rentable square
feet), 1925 (9,393 rentable square feet), 2000 (4,215 rentable square feet), 2040 (9,939 rentable square feet),
2012 (3,241 rentable square feet), 2020 (2,852 rentable square feet), 2015
(3,010 rentable square feet), 2010 (2,033 rentable square feet), 1900 (6,972
rentable square feet), 1720 (4,474 rentable square feet), 1730 (3251 rentable
square feet), 1725 (4,250 rentable
square feet), 1722 (989 rentable square feet) and LL2-005 (10,624 rentable
square feet) on the fifteenth (15th), seventeenth(17th),
nineteenth (19th) and twentieth (20th) floors and Lower
Level 2 of the building located at 100 South Wacker Drive, Chicago, Illinois
60606 (the “Building”) for a term expiring on August 31, 2006, (the
“Termination Date”), and Suite 1710 (3,801 rentable square feet) and Suite 1506
(3,628 rentable square feet) in the Building for a term ending April 30,
2002 (collectively, the “Existing Premises”).

 

B.                                     Landlord
and Tenant desire to extend the term of the Lease as to Suite 1710 and Suite
1510 (consisting of 1,963 rentable square feet and formerly part of Suite 1506)
of the Existing Premises, and to modify certain other provisions as set forth
herein but not otherwise.

 

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

 

1.  Definitions.   Each capitalized term
used in this Fifteenth Amendment shall have the same meaning as is ascribed to such capitalized term in the
Lease, unless otherwise provided for herein.

 

2.  Extension
of Term - Suite 1710.   The term of the Lease as to Suite 1710 of the Existing Premises
is hereby extended for a period of six (6) months commencing on May 1, 2002 and
ending on October 31, 2002 (the “Suite 1710 Second Extension Term”),
subject to early termination by either Landlord or Tenant effective on the last
day of any month upon not less than thirty (30) days’ prior written notice to
the other party.

 

 

3.                                       Extension of Term - Suite 1510.   The term of the Lease as to Suite 1510
(consisting of 1,963 rentable square feet and formerly part of Suite 1506 as
depicted on Exhibit A attached hereto and incorporated herein) of the Existing
Premises is hereby extended for an additional period of [***] commencing on
[***] (the “Suite 1510 Extension Term”), subject to early termination by either
Landlord or Tenant effective on the last day of any month upon not less than
thirty (30) days’ prior written notice to the other party.

 

4.                                       Rent.

 

(a)                                  Suite
1710.   During the Suite
1710 Second Extension Term, Annual Rent for Suite 1710 and the Monthly
Installments thereof shall be as set forth below, payable in the manner
provided in Article 3 of the Lease:

 

	
  Period

  	
   

  	
  Annual
  Rent

  	
   

  	
  Monthly
  Installments

  	
   

  
	
  05/01/02 - 10/31/02

  	
   

  	
  $

  	
  117,831.00

  	
   

  	
  $

  	
  9,819.25

  	
   

  
								

 

(b)                                 Suite
1510.   During the Suite
1510 Extension Term, Annual Rent for Suite 1510 and the Monthly Installments
thereof shall be as set forth below, payable in the manner provided in
Article 3 of the Lease:

 

	
  Period

  	
   

  	
  Annual
  Rent

  	
   

  	
  Monthly
  Installments

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  [***]

  	
   

  	
  [***]

  	
   

  	
  [***]

  	
   

  

 

(c)                                  There
shall be no abatement of Annual Rent under or by reason of this Fifteenth
Amendment.

 

5.                                       Tenant’s
Proportionate Share.  For the purposes of
determining Tenant’s Proportionate Share of Direct Expenses and Taxes pursuant
to Article 4 of the Lease,
there shall be no increase in Tenant’s Proportionate Share by reason of the
extension of the term as to Suites 1710 and 1510.

 

6.                                       Condition
of Premises.  Tenant’s
execution and delivery of this Fifteenth Amendment shall be conclusive evidence
that the Existing Premises were in good order and satisfactory condition as of
the date hereof.  No agreement of
Landlord to alter, remodel, decorate, clean or improve the Existing Premises or
the Building and no representation or warranty regarding the condition of the
Existing Premises or the Building or regarding any other matter of any kind or
nature has been made by or on behalf of Landlord to Tenant under or by reason
of this Fifteenth Amendment.

 

7.                                       Consent
to Assignment and/or Sublease to Certain Affiliates of Tenant.
Landlord acknowledges that Tenant may elect, from time to time, to sublease,
and/or assign the Lease as
amended hereby, as to all or portions of the Premises to Terra Nova Trading,
L.L.C. and/or Archipelago Holdings, L.L.C., each of which is an affiliate of
the principals of Tenant, or their respective subsidiaries or affiliates
(collectively, a “Permitted Transfer”), provided that at

 

*** Certain information on this page has been omitted and filed
separately with the Securities and Exchange Commission. Confidential treatment
has been requested with respect to the omitted portions.

 

 

least fifteen (15) days prior to the effective date of any such
proposed assignment, Tenant shall permit Landlord or its designated agents to
examine the current financial statements of Tenant and the proposed assignee
for Landlord’s approval (which shall not be withheld provided such financial
statements show that the proposed assignee or subtenant is of at least
equivalent financial condition (i.e., tangible net worth and current net
income) as Tenant as determined by Landlord in its reasonable business
judgment) and that the proposed assignment or sublease otherwise complies with
the provisions of Article 10 of the Lease which are not inconsistent with
the foregoing provisions of this Section. 
Except for a Permitted Transfer, all other assignments, sublettings,
transfers, etc. with respect to the Lease as amended hereby and the Premises
which are or would be covered by the provisions of Article 10 of the Lease
as amended hereby, shall remain subject to the provisions thereof.

 

8.                                       Real
Estate Broker.  Tenant
represents that, except for Lincoln Property Company Commercial, Inc.
(“Broker”), Tenant has not dealt with any real estate broker, salesperson or
finder in connection with this Fifteenth Amendment and no such person initiated
or participated in the negotiation of this Fifteenth Amendment or is entitled
to any fee or commission in connection herewith.  Tenant hereby agrees to indemnify and hold Landlord, its property
manager and their respective agents and employees harmless from and against any
and all damages, liabilities, claims, actions, costs and expenses (including
attorneys’ fees) arising from either (i) any claims or demands of any broker, other
than Broker, salesperson or finder for any fee or commission alleged to be due
such broker, salesperson or finder in connection with this Fifteenth Amendment
or (ii) a claim of, or right to, any lien under the Statutes of the State of
Illinois relating to real estate broker liens with respect to any such broker,
salesperson or finder retained by Tenant.

 

9.                                       Submission.  Submission of this Fifteenth Amendment by Landlord or
Landlords agent,  or their respective agents or
representatives, to Tenant for examination and/or execution shall not in any
manner bind Landlord and no obligations on Landlord shall arise under this
Fifteenth Amendment unless and until this Fifteenth Amendment is fully signed
and delivered by Landlord and Tenant; provided, however, the execution and
delivery by Tenant of this Fifteenth Amendment to Landlord or Landlord’s,
agent, or their respective agents or representatives, shall constitute an
irrevocable offer by Tenant to extend the lease term of the Lease on the terms
and conditions herein contained, which offer may not be revoked for ten (10)
days after such, delivery.

 

10.                                 Binding
Effect; Conflict.  The
Lease, as amended hereby, shall continue in full force and effect, subject to
the terms and provisions thereof and hereof. In the event of any conflict
between the terms of the Lease and the terms of this Fifteenth Amendment, the
terms of this Fifteenth Amendment shall control.  This Fifteenth Amendment shall be binding upon and inure to the
benefit of Landlord, Tenant and their respective successors and permitted
assigns.

 

11.                                 Limitation
of Liability.  Neither Landlord nor any officer, director,
member or employee of Landlord nor any owner of the Building, whether disclosed
or undisclosed, shall have any personal liability with respect to any of the
provisions of the Lease, as hereby amended, or the Premises, and if Landlord is
in breach or default with respect to Landlord’s obligations under the Lease, as
hereby amended, or otherwise, Tenant shall look solely to the equity interest

 

 

of Landlord in the Building for the satisfaction of Tenant’s remedies
or judgments.

 

IN
WITNESS WHEREOF,
this Fifteenth Amendment is executed as of the day and year aforesaid.

 

 

	
  TENANT:

  	
  LANDLORD:

  
	
   

  	
   

  
	
  TOWNSEND ANALYTICS, LTD.,

  	
  LINCOLN-CARLYLE HARTFORD, L.L.C.,

  
	
  an Illinois corporation

  	
  a Delaware limited liability company

  
	
   

  	
   

  
	
  By:

  	
  /s/MarrGwen Townsend

  	
   

  	
  By:

  	
  Lincoln Hartford, LLC,
  a Delaware

  
	
   

  	
   

  	
   limited company, Managing Member

  
	
   

  	
   

  
	
  Its: 

  	
  Vice President

  	
   

  	
   By: 

  	
  Lincoln Investors Group 3, Inc., a

  
	
   

  	
   

  	
  Texas corporation, Managing Member

  
	
   

  	
  By:

  	
  /s/John B. Grissim

  	
   

  
	
   

  	
  Name:

  	
  John B. Grissim

  	
   

  
	
   

  	
   

  	
  Vice President

  
								

 

 

EXHIBIT A

 

FLOOR PLAN OF SUITE 1510

 

[ GRAPHICS ]

 

 

 

 

 

 

 

SIXTEENTH AMENDMENT TO OFFICE LEASE

 

THIS SIXTEENTH AMENDMENT TO
OFFICE LEASE (“Sixteenth Amendment’) is made as of the 30th day of
April, 2002, by and between LINCOLN-CARLYLE HARTFORD, L.L.C., a Delaware
limited liability company (“Landlord”), and TOWNSEND ANALYTICS, LTD., an
Illinois corporation (“Tenant”).

 

WITNESSETH:

 

A.                                   Landlord’s
predecessor-in-interest and Tenant entered into a certain lease dated as of
June 3, 1996, as amended by a letter agreement dated August 28, 1996
and by Amendments dated as of December 20, 1996, July 17, 1997,
July 31, 1998, November 12, 1998, July 1, 1999, August 27, 1999,
September 10, 1999, May 1,2000, August 31,2000, October 12,2000,
October31, 200, April 13, 2001, two Amendments dated September 27,
2001, and of even date herewith (the original Lease, as amended by such letter
agreement and Amendments is referred to herein as the “Lease”), whereby
Landlord’s predecessor-in-interest or Landlord leased to Tenant certain
premises consisting of Suite Nos. 1550(11,828 rentable square feet), 1925
(9,393 rentable square feet), 2000 (4,215 rentable square feet), 2040 (9,939 rentable
square feet), 2012 (3,241 rentable square feet), 2020 (2,852 rentable square
feet), 2015 (3,010 rentable square feet), 2010 (2,033 rentable square feet),
1900 (6,972 rentable square feet), 1720 (4,474 rentable square feet), 1730
(3251 rentable square feet), 1725 (4,250 rentable square feet), 1722 (989
rentable square feet) and LL2-005 (10,624 rentable square feet) on the
fifteenth (15th),  seventeenth
(17th)  nineteenth (19th)  and twentieth (20th)  floors and Lower Level 2 of the building
located at 100 South Wacker Drive, Chicago, Illinois 60606 (the “Building”) for
a term expiring on August 31, 2006, (the “Termination Date”), Suite 1710
(3,801 rentable square feet) and Suite 1510 (consisting of 1,963 rentable
square feet and formerly part of Suite 1506) in the Building for a term ending
October 31, 2002, and Suite 1506 (1,666 rentable square feet excluding
Suite 1510 which was formerly part of Suite 1506) in the Building for a term
ending April 30, 2002 (collectively, the “Existing Premises”).

 

B.                                     Landlord
and Tenant desire to extend the term of the Lease as to Suite 1506 (consisting
of 1,666 rentable square feet excluding Suite 1510 which was formerly part of
Suite 1506) of the Existing Premises, and to modify certain other provisions as
set forth herein but not otherwise.

 

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

 

1.                                       Definitions. Each capitalized term used
in this Sixteenth Amendment shall have the same meaning as is ascribed to such
capitalized term in the Lease, unless otherwise provided for herein.

 

2.                                       Extension of Term - Suite 1506. The
term of the Lease as to Suite 1510 (consisting of 1,666 rentable square feet
excluding Suite 1510 which was formerly part of Suite

 

 

1506 as depicted on Exhibit A attached hereto and incorporated herein)
of the Existing Premises is hereby extended for an additional period of six (6)
months commencing on May 1, 2002 and ending on October 31, 2002 (the
“Suite 1506 Third Extension Term”), subject to early termination by either
Landlord or Tenant effective on the last day of any month upon not less than
thirty (30) days’ prior written notice to the other party.

 

3.                                       Rent.

 

(a)                                  Suite 1506.  During the Suite 1506 Third Extension Term, Annual Rent for Suite
1506 and the Monthly Installments thereof shall be as set forth below, payable
in the manner provided in Article 3 of the Lease:

 

	
  Period

  	
   

  	
  Annual
  Rent

  	
   

  	
  Monthly
  Installments

  	
   

  
	
  05/01/02 - 10/31/02

  	
   

  	
  $

  	
  51,646.00

  	
   

  	
  $

  	
  4,303.83

  	
   

  
								

 

(b)                                 There
shall be no abatement of Annual Rent under or by reason of this Sixteenth
Amendment.

 

4.                                       Tenant’s Proportionate Share.  For the purposes of determining Tenant’s
Proportionate Share of Direct Expenses and Taxes pursuant to Article 4 of
the Lease, there shall be no increase in Tenant’s Proportionate Share by reason
of the extension of the term as to Suite 1506.

 

5.                                       Condition of Premises. Tenant’s
execution and delivery of this Sixteenth Amendment shall be conclusive evidence
that the Existing Premises were in good order and satisfactory condition as of
the date hereof. No agreement of Landlord to alter, remodel, decorate, clean or
improve the Existing Premises or the Building and no representation or warranty
regarding the condition of the Existing Premises or the Building or regarding
any other matter of any kind or nature has been made by or on behalf of
Landlord to Tenant under or by reason of this Sixteenth Amendment.

 

6.                                       Consent to Assignment and/or Sublease to Certain Affiliates
of Tenant. Landlord acknowledges that Tenant may elect, from
time to time, to sublease, and/or assign the Lease as amended hereby, as to all
or portions of the Premises to Terra Nova Trading, L.L.C. and/or Archipelago
Holdings, L.L.C., each of which is an affiliate of the principals of Tenant, or
their respective subsidiaries or affiliates (collectively, a “Permitted
Transfer”), provided that at least fifteen (15) days prior to the effective
date of any such proposed assignment, Tenant shall permit Landlord or its
designated agents to examine the current financial statements of Tenant and the
proposed assignee for Landlord’s approval (which shall not be withheld provided
such financial statements show that the proposed assignee or subtenant is of at
least equivalent financial condition (i.e., tangible net worth and current net
income) as Tenant as determined by Landlord in its reasonable business
judgment) and that the proposed assignment or sublease otherwise complies with
the provisions of Article 10 of the Lease which are not inconsistent with
the foregoing provisions of this Section. Except for a Permitted

 

 

Transfer, all other assignments, sublettings, transfers, etc. with
respect to the Lease as amended hereby and the Premises which are or would be
covered by the provisions of Article 10 of the Lease as amended hereby,
shall remain subject to the provisions thereof.

 

7.                                       Real Estate Broker. Tenant represents
that, except for Lincoln Property Company Commercial, Inc. (“Broker”), Tenant
has not dealt with any real estate broker, salesperson or finder in connection
with this Sixteenth Amendment and no such person initiated or participated in
the negotiation of this Sixteenth Amendment or is entitled to any fee or
commission in connection herewith. Tenant hereby agrees to indemnify and hold
Landlord, its property manager and their respective agents and employees
harmless from and against any and all damages, liabilities, claims, actions,
costs and expenses (including attorneys’ fees) arising from either (i) any
claims or demands of any broker, other than Broker, salesperson or finder for
any fee or commission alleged to be due such broker, salesperson or finder in
connection with this Sixteenth Amendment or (ii) a claim of, or right to, any
lien under the Statutes of the State of Illinois relating to real estate broker
liens with respect to any such broker, salesperson or finder retained by
Tenant.

 

8.                                       Submission. Submission of this
Sixteenth Amendment by Landlord or Landlord’s agent, or their respective agents
or representatives, to Tenant for examination and/or execution shall not in any
manner bind Landlord and no obligations on Landlord shall arise under this
Sixteenth Amendment unless and until this Sixteenth Amendment is fully signed
and delivered by Landlord and Tenant; provided, however, the execution and
delivery by Tenant of this Sixteenth Amendment to Landlord or Landlord’s agent,
or their respective agents or representatives, shall constitute an irrevocable
offer by Tenant to extend the lease term of the Lease on the terms and
conditions herein contained, which offer may not be revoked for ten (10) days
after such delivery.

 

9.                                       Binding Effect; Conflict.  The Lease, as amended hereby, shall
continue in full force and effect, subject to the terms and provisions thereof and hereof. In the event of any
conflict between the terms of the Lease and the terms of this Sixteenth
Amendment, the terms of this Sixteenth Amendment shall control. This Sixteenth
Amendment shall be binding upon and inure to the benefit of Landlord, Tenant
and their respective successors and permitted assigns.

 

10.                                 Limitation of Liability.  Neither Landlord nor any officer, director,
member or employee of Landlord nor any owner of the Building, whether disclosed
or undisclosed, shall have any personal liability with respect to any of the
provisions of the Lease, as hereby amended, or the Premises, and if Landlord is
in breach or default with respect to Landlord’s obligations under the Lease, as
hereby amended, or otherwise, Tenant shall look solely to the equity interest
of Landlord in the Building for the satisfaction of Tenant’s remedies or
judgments.

 

 

IN WITNESS WHEREOF,
this Sixteenth Amendment is executed as of the day and year aforesaid.

 

	
  TENANT:

  	
  LANDLORD:

  
	
   

  	
   

  
	
  TOWNSEND ANALYTICS, LTD.,

  	
  LINCOLN-CARLYLE HARTFORD, L.L.C.,

  
	
  an Illinois corporation

  	
  a Delaware limited liability company

  
	
   

  	
   

  
	
  By:

  	
  /s/MarrGwen Townsend

  	
   

  	
  By:

  	
  Lincoln Hartford, LLC,
  a Delaware

  
	
   

  	
   

  	
   limited company, Managing Member

  
	
   

  	
   

  
	
  Its: 

  	
   

  	
   

  	
   By: 

  	
  Lincoln Investors Group 3, Inc., a

  
	
   

  	
   

  	
  Texas corporation, Managing Member

  
	
   

  	
  By:

  	
  /s/John B. Grissim

  	
   

  
	
   

  	
  Name:

  	
  John B. Grissim

  	
   

  
	
   

  	
   

  	
  Vice President

  
								

 

 

SEVENTEENTH AMENDMENT TO OFFICE LEASE

 

[***]

 

*** The Seventeenth Amendment to Office Lease has been omitted in its
entirety and filed separately with the Securities and Exchange Commission.
Confidential treatment has been requested with respect to the omitted portions.

 

 

EIGHTEENTH
AMENDMENT TO OFFICE LEASE

 

THIS EIGHTEENTH AMENDMENT TO OFFICE LEASE
(“Eighteenth Amendment”) is made as of the 31st day of March, 2003,
by and between MJH WACKER LLC,
a Delaware limited liability company (“Landlord”), and TOWNSEND ANALYTICS, LTD., an Illinois corporation (“Tenant”).

 

WITNESSETH:

 

A.                                   Landlord’s
predecessor-in-interest and Tenant entered into a certain lease dated as of
June 3, 1996, as amended by a letter agreement dated August 28, 1996
and by Amendments dated as of December 20, 1996, July 17, 1997,
July 31, 1998, November 12, 1998, July 1, 1999, August27, 1999,
September 10, 1999, May 1, 2000, August 31, 2000, October 12,
2000, October 31, 2000, April 13, 2001, two Amendments dated
September 27, 2001, two Amendments dated April 30, 2002, and an
Amendment of even date herewith (the original Lease, as amended by such letter
agreement and Amendments is referred to herein as the “Lease”), whereby
Landlord’s predecessor-in-interest or Landlord leased to Tenant certain
premises consisting of Suite Nos.  1550
(11,828 rentable square feet), 1925 (9,393 rentable square feet), 2000 (4,215 rentable
square feet), 2040 (9,939 rentable square feet), 2012 (3,241 rentable square
feet), 2020 (2,852 rentable square feet), 2015 (3,010 rentable square feet),
2010 (2,033 rentable square feet), 1900 (6,972 rentable square feet), 1720
(4,474 rentable square feet), 1730 (3251 rentable square feet), 1725 (4,250 rentable
square feet), 1722 (989 rentable square feet), 1732 (1,453 rentable square
feet), LL2-34 (1,280 rentable square feet) and LL2-005 (10,624 rentable square
feet) on the fifteenth (15th),
seventeenth (17th), nineteenth
(19th) and twentieth (20th) floors and Lower
Level 2 of the building located at 100 South Wacker Drive, Chicago, Illinois
60606 (the “Building”) for a term expiring on August 31, 2006, (the
“Termination Date”), and Suite 1710 (3,801 rentable square feet) in the
Building for a term ending on October 31, 2002, and Suite 1510 (consisting
of 1,963 rentable square feet and formerly part of Suite 1506) and Suite 1506
(1,666 rentable square feet excluding Suite 1510 which was formerly part of
Suite 1506) in the Building for a term ending on April 30, 2003 (subject
to automatic 6-month extensions thereof if not earlier terminated as provided
in the Seventeenth Amendment to the Lease) (collectively, the “Existing
Premises”).

 

B.                                     Landlord
and Tenant desire to amend the Lease to expand the Premises within the
Building, to extend the term of the Lease as to Suite 1710 of the Existing
Premises, and to modify certain other provisions as set forth herein but not
otherwise.

 

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

 

1.                                       Definitions.  Each capitalized term used in this
Eighteenth Amendment shall have the same meaning as is ascribed to such
capitalized term in the Lease, unless otherwise provided for herein.

 

 

2.                                       Extension of Term - Suite 1710.  The term of the Lease as to Suite 1710 of
the Existing Premises is hereby extended for an additional period of six (6) months commencing on November 1, 2002 and ending on April 30,
2003, (the “Suite 1710 Third Extension Term”), which term shall be
automatically extended for additional periods of six (6) months each unless and
until terminated by Landlord or Tenant as provided below, subject to early
termination by either Landlord or Tenant effective on the last day of any month
upon not less than thirty (30) days’ prior written notice to the other party.

 

3.                                       Expansion
of Premises.  Commencing
on March 1, 2003 (the “Suite 1700 Expansion Effective Date”), the Premises
shall consist of the space then occupied by Tenant in the Building and an
additional two thousand seven hundred ninety (2,790) square feet of rentable
area on the seventeenth (17th)  floor (Suite 1700) of the Building
as shown as hatched on Exhibit A-1 attached hereto and incorporated herein
(such additional space being referred to herein as the “Suite 1700 Expansion
Space”) for a term of six (6) months ending on August 31, 2003 (the “Suite
1700 Term”), which term shall be automatically extended for additional periods
of six (6) months each unless and until terminated by Landlord or Tenant as
provided below, subject to early termination by either Landlord or Tenant
effective on the last day of any month upon not less than thirty (30) days’
prior written notice to the other party.

 

4.                                       Rent.

 

(a)                                  Suite
1710.  During the Suite
1710 Third Extension Term (as the same may be automatically extended pursuant
to Section 2 above), Annual Rent for Suite 1710 shall be $117,831.00 and
the Monthly Installments thereof shall be $9,819.25, payable in the manner
provided in Article 3 of the Lease.

 

(b)                                 Suite
1700.  During the Suite
1700 Term (as the same may be automatically extended pursuant to Section 3
above), Annual Rent for Suite 1700 shall be $86,490.00 and the Monthly
Installments thereof shall be $7,207.50, payable in the manner provided in
Article 3 of the Lease.

 

(c)                                  There
shall be no abatement of Annual Rent under or by reason of this Eighteenth
Amendment

 

5.                                       Tenant’s
Proportionate Share.  For
the purposes of determining Tenant’s Proportionate Share of Direct Expenses and
Taxes pursuant to Article 4 of the Lease, there shall be no increase in
Tenant’s Proportionate Share by reason of the expansion of the Premises
hereunder to include the Suite 1700 Expansion Space therein or by the extension
of the term as to Suite 1710.

 

6.                                       Condition
of Premises.  Tenant’s
execution and delivery of this Eighteenth Amendment shall be conclusive
evidence that the Existing Premises and the Suite 1700 Expansion Space were in
good order and satisfactory condition as of the date hereof.  No agreement of Landlord to alter, remodel,
decorate, clean or improve the Existing Premises, the Suite 1700 Expansion
Space or the Building and no representation or warranty regarding the condition
of the Existing Premises, the Suite 1700 Expansion Space or the Building or
regarding any other matter of any kind or nature has been made by or on behalf
of Landlord to Tenant under or by reason of this

 

 

Eighteenth Amendment, and furthermore, Tenant agrees to accept
possession of the Suite 1700 Expansion Space in “as is” condition.

 

7.                                       Consent
to Assignment and/or Sublease to Certain Affiliates of Tenant.  Landlord acknowledges that Tenant may elect,
from time to time, to sublease, and/or
assign the Lease as amended hereby, as to all or portions of the
Premises to Terra Nova Trading, L.L.C. 
and/or Archipelago Holdings, L.L.C., each of which is an affiliate of the principals of Tenant, or
their respective subsidiaries or affiliates (collectively, a “Permitted
Transfer”), provided that at
least fifteen (15) days prior to the effective date of any such proposed assignment, Tenant shall permit
Landlord or its designated
agents to examine the current financial statements of Tenant and the
proposed assignee for Landlord’s approval (which shall not be withheld provided
such financial statements show that
the proposed assignee or subtenant is
of at least equivalent financial condition
(i.e., tangible net worth and current
net income) as Tenant as determined by Landlord in its reasonable business judgment) and that the proposed assignment or sublease
otherwise complies with the
provisions of Article 10 of the Lease which are not inconsistent with
the foregoing provisions of this Section.  Except for a Permitted Transfer, all other assignments, sublettings,
transfers, etc. with respect to the Lease as amended hereby and the Premises which
are or would be covered by the provisions of Article 10 of the Lease as amended hereby, shall remain subject to the provisions thereof.

 

8.                                       Real
Estate Broker.  Tenant
represents that, except for Lincoln Property Company Commercial, Inc.  (“Broker”), Tenant has not dealt with any
real estate broker, salesperson or finder in connection with this Eighteenth
Amendment and no such person initiated or participated in the negotiation of
this Eighteenth Amendment or is entitled to any fee or commission in connection
herewith.  Tenant hereby agrees to
indemnify and hold Landlord, its property manager and their respective agents
and employees harmless from and against any and all damages, liabilities,
claims, actions, costs and expenses (including attorneys’ fees) arising from
either (i) any claims or demands of any broker, other than Broker, salesperson
or finder for any fee or commission alleged to be due such broker, salesperson
or finder in connection with this Eighteenth Amendment or (ii) a claim of, or
right to, any lien under the Statutes of the State of Illinois relating to real
estate broker liens with respect to any such broker, salesperson or finder
retained by Tenant

 

9.                                       Submission.  Submission of this Eighteenth Amendment by
Landlord or Landlord’s agent, or their respective agents or representatives, to
Tenant for examination and/or execution shall not in any manner bind Landlord
and no obligations on Landlord shall arise under this Eighteenth Amendment
unless and until this Eighteenth Amendment is fully signed and delivered by
Landlord and Tenant, provided, however, the execution and delivery by Tenant of
this Eighteenth Amendment to Landlord or Landlord’s agent, or their respective
agents or representatives, shall constitute an irrevocable offer by Tenant to
extend the lease term of the Lease on the terms and conditions herein
contained, which offer may not be revoked for ten (10) days after such
delivery.

 

10.                                 Binding
Effect; Conflict.  The
Lease, as amended hereby, shall continue in full force and effect, subject to the terms and provisions thereof and hereof. 
In the event of any conflict

 

 

between the terms of the Lease and the terms of this Eighteenth Amendment, the terms of this Eighteenth Amendment shall control.  This Eighteenth Amendment shall be
binding upon and inure to the benefit of Landlord, Tenant and
their respective successors and permitted assigns.

 

11.                                 Limitation of Liability.  
Neither Landlord nor any officer,
director, member or employee of Landlord nor any owner of the Building, whether disclosed or undisclosed, shall have any
personal liability with respect to any of the provisions of the Lease, as hereby amended,
or the Premises, and if Landlord
is in breach or default with
respect to Landlord’s obligations under the Lease, as hereby amended, or otherwise, Tenant shall look solely to the equity
interest of Landlord in the Building for the satisfaction of Tenant’s
remedies or judgments.

 

IN
WITNESS WHEREOF, this Eighteenth Amendment is executed as of the day and year aforesaid.

 

	
  TENANT:

  	
  LANDLORD:

  
	
   

  	
   

  
	
  TOWNSEND ANALYTICS, LTD.,
  an

  	
  MJH WACKER LLC, a
  Delaware limited

  
	
  Illinois corporation

  	
  liability company

  
	
   

  
	
   

  
	
  By: 

  	
  /s/MarrGwen Townsend

  	
   

  	
  By:

  	
  /s/John B. Grissim

  	
   

  
	
  Its: 

  	
  VP

  	
   

  	
   

  	
  John B. Grissim

  	
   

  
	
   

  	
   

  	
   

  	
  Vice President

  	
   

  

 

 

EXHIBIT
A

FLOOR
PLAN OF SUITE 1700

 

[Graphics]

 

A-1

 

 

 

19TH
AMENDMENT TO OFFICE LEASE

 

THIS
19TH AMENDMENT TO OFFICE LEASE (this “Amendment”)
is made as of the 31st day of October, 2003, by and between MJH WACKER
LLC, a Delaware limited liability company (“Landlord”) and TOWNSEND
ANALYTICS, LTD., an Illinois corporation (“Tenant”).

 

WITNESSETH:

 

A.            Landlord’s
predecessor-in-interest and Tenant entered into a certain lease dated as of
June 3, 1996 (the “Original Lease”), as amended by a letter agreement dated
August 28, 1996 and by Amendments dated as of December 20, 1996, July 17, 1997,
July 31, 1998, November 12, 1998, July 1, 1999, August27, 1999, September 10,
1999, May 1, 2000, August 31, 2000, October 12, 2000, October31, 2000, April
13, 2001, two Amendments dated September 27, 2001, two Amendments dated April
30, 2002, and two Amendments dated March 31, 2003 (the Original Lease, as amended
by such letter agreement and Amendments is referred to herein as the “Lease”),
whereby Landlord’s predecessor-in-interest or Landlord leased to Tenant certain
premises consisting of Suite Nos. 1550 (11,828 rentable square feet), 1925
(9,393 rentable rentable feet), 2000 (4,215  rentable square feet), 2040 (9,939
rentable square feet), 2012 (3,241 rentable square feet), 2020 (2,852 rentable
square feet), 2015 (3,010 rentable square feet), 2010 (2,033 rentable square
feet), 1900 (6,972 rentable square feet), 1720 (4,474 rentable square feet),
1730 (3,251 rentable square feet), 1725 (4,250 rentable square feet), 1722 (989
rentable square feet), 1732 (1,453 rentable
square feet), LL2-34 (1,280 rentable square feet) and LL2-005 (10,624 rentable square feet) on
the fifteenth (15th), seventeenth (17th), nineteenth (19th)
and twentieth (20th) floors and Lower Level 2 of the building
located at 100 South Wacker Drive, Chicago, Illinois 60606 (the “Building”)
(and as to Suite LL2-34, in the building owned by Landlord located at 150 South
Wacker Drive, Chicago, Illinois) for a term expiring on August 31, 2006, (the
“Termination Date”), and Suite 1510 (consisting of 1,963 rentable square feet
and formerly part of Suite 1506) and Suite 1506 (1,666 rentable square feet
excluding Suite 1510 which was formerly part of Suite 1506) in the Building for
a term ending on April 30, 2003 (subject to automatic 6-month extensions
thereof if not earlier terminated as provided in the Seventeenth Amendment to
the Lease), Suite 1710 (3,801 rentable square feet) in the Building for a term
ending on April 30, 2003 (subject to automatic 6-month extensions thereof if
not earlier terminated as provided in the Eighteenth Amendment to the Lease),
and Suite 1700 (2,790 rentable square feet) in the Building for a term ending
on August 31, 2003 (subject to automatic 6-month extensions thereof if not
earlier terminated as provided in the Eighteenth Amendment to the Lease)
(collectively, the “Existing Premises”).

 

B.            Landlord’s
predecessor-in-interest and Tenant entered in that certain Storage Space Lease
Agreement dated June 30, 2000 (as amended by letter agreement dated September
20, 2000) demising Suite 1847 (426 rentable square feet) (the “Storage Space”)
for a month-to-month term (the “Storage Lease”).

 

C.            Landlord and Tenant desire (i) to
amend the Lease to reduce the Existing Premises by eliminating therefrom the
portions thereof located on the 17th floor of the Building, [***]
and to modify certain other provisions of the Lease and (ii) to terminate the
Storage Lease, 

 

*** Certain information on this page has been omitted and filed
separately with the Securities and Exchange Commission. Confidential treatment
has been requested with respect to the omitted portions.

 

 

all as set forth herein but not
otherwise.

 

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

 

1.             Definitions.  Each capitalized term used in this Amendment shall have the
same meaning as is ascribed to such capitalized term in the Lease, unless
otherwise expressly provided for herein.

 

2.             Reduction of Size
of Premises.  Commencing
on the commencement date of that certain Office Lease of even date herewith
between Landlord and Archipelago Holdings, L.L.C. (“Archipelago”), a copy of
which is attached hereto as Exhibit B (the “Archipelago Lease”), demising the
Reduction Space (as hereinafter defined) (the “Reduction Effective Date”), the
size of the Premises shall be reduced by eliminating that portion of the
Premises (Suites 1700, 1710, 1720, 1722 and 1725) consisting of twenty-one
thousand and eight (21,008) rentable square feet shown on Exhibit A attached
hereto and incorporated herein (such eliminated space being referred to herein
as the “Reduction Space”), such that the total rentable area of the Premises
shall be sixty-nine thousand sixteen (69,016) square feet.

 

3.             Obligations for Reduction Space.

 

Landlord and Tenant hereby each releases the
other from any and all claims, costs, causes of action, damages, liabilities or
any other matters whatsoever related to the Reduction Space accruing under the
Lease from and after the Reduction Effective Date.

 

Notwithstanding anything contained herein to
the contrary, in no event shall Tenant be released from or relieved of any
liability with respect to the Reduction Space accruing under the Lease prior to
the Reduction Effective Date (including, without limitation, the obligation to
pay any year-end adjustments in Tenant’s Proportionate Share of Direct Expenses
and/or Taxes and the obligation to perform any other conditions and covenants
that by the terms of the Lease as it pertains to the Reduction Space survive
the termination of the Lease) or of any Event of Default under the Lease as
amended hereby that occurred prior to the Reduction Effective Date or which
would have constituted an Event of Default as of the Reduction Effective Date
except for the passage of time.

 

Tenant hereby covenants that Tenant has not at
any time done or suffered any act or omission and will not do or suffer any act
or omission whereby the Reduction Space or any part thereof are or may be in
any way charged, assessed or encumbered. 
If this covenant is breached, Tenant covenants and agrees to pay
Landlord upon demand any and all damages, costs and expenses including, without
limitation, attorneys’ fees resulting therefrom.

 

4.             Annual Rent.  Tenant shall continue to pay Annual and Monthly
Base Rent for the Premises for the period commencing on the Reduction Effective
Date in the manner provided in Section 4  of the Lease, [***].

 

5.             [***]

 

*** Certain information on this page has been omitted and filed
separately with the Securities and Exchange Commission. Confidential treatment
has been requested with respect to the omitted portions.

 

 

(a)           [***]

 

(b)           [***]

 

(c)           [***]

 

[***]

 

6.             Tenant’s
Proportionate Share.

 

(a)           Commencing
on the Reduction Effective Date, for purposes of determining Tenant’s
Proportionate Share of Direct Expenses and Taxes pursuant to Article 4 of the
Lease, Tenant’s Proportionate Share shall be reduced to ten and four hundred
forty-two thousandths percent (10.442%).

 

(b)           [***]

 

(i)            [***]

(ii)           [***]

(iii)          [***]

 

[***]

 

7.             Termination of Storage Lease.  The Storage Lease is hereby terminated as of the date hereof and
Tenant shall vacate the Storage Space and surrender possession thereof to
Landlord in the manner required under the Storage Lease as if the term of the
Storage Lease had expired by lapse of time. Landlord and Tenant hereby each
releases the other from any and all claims, costs, causes of action, damages,
liabilities or any other matters whatsoever related to the Storage Space
accruing under the Storage Lease from and after the date hereof.

 

8.             Signage.

 

(a)           Effective on the date hereof and
throughout the remainder of the term of the Lease as amended hereby (as the
same may be extended or renewed), Tenant shall be entitled to install signage
displaying Tenant’s corporate name (and the corporate name of Terra Nova
Trading, L.L.C) in the main lobby of the Building in the location depicted on
Exhibit A-1 attached hereto, which signage shall be substantially identical in
size, materials and design as the signage currently installed for GMAC in the
north lobby of the Building.

 

(b)           Effective on the
last to occur of (i) the Expansion Effective Date (as defined in the
Archipelago Lease), (ii) the date which is seven (7) months following the date
of this Amendment or (iii) the date Landlord substantially completes installation
of the ground-level outdoor sign for the Building to be located between the two
revolving Building entrance doors on the Monroe Street side of the Building
(the “Outdoor Sign”), and thereafter during any portion of the

 

*** Certain information on this page has been omitted and filed
separately with the Securities and Exchange Commission. Confidential treatment
has been requested with respect to the omitted portions.

 

 

remainder of
the Term of the Lease as amended hereby (as the same may be extended or
renewed) that Tenant is occupying the entire Premises, Tenant shall be entitled
to a Building-standard sign panel displaying Tenant’s corporate name on the
Outdoor Sign, located below the sign panel for Archipelago. Notwithstanding
anything to the contrary contained in the Lease as amended hereby (including,
without limitation, Section 15 thereof), Tenant’s signage rights under this
Section 8(b) shall not be assignable or subleasable by Tenant to any other
party.

 

9.             Roof and Suite 1943
Improvements; 21st Floor Mechanical Equipment; and Telecommunications Risers and Pathways.  It is agreed that
throughout the remainder of the term of the Lease as amended hereby (as the
same may be extended or renewed), Tenant shall [***] for (a) the space on the
roof of the Building presently being used for the Roof and Suite 1943
Improvements (as defined in Section 8 of the Fifth Amendment to the Lease), (b)
the existing telecommunications riser space and pathways in the Building
presently utilized by Tenant, or (c) portions of the mechanical room on the
2lst floor of the Building presently used for Tenant’s equipment in conjunction
with the Roof and Suite 1943 Improvements (the “21st Floor
Mechanical Equipment”), it is further understood and agreed that for purposes
of Tenant’s obligations under Section 8 of the Fifth Amendment to the Lease,
the Roof and Suite 1943 Improvements shall he deemed to include the 21st
Floor Mechanical Equipment.

 

10.           Removal of Stairway Between 19th and 20th
Floor Portions of Premises Not Required.   Section 1(c) of the Tenth Amendment to the Lease is hereby
deleted in its entirety and shall be of no further force and effect (provided
that the remainder of said Section 1 shall continue in full force and effect).

 

11.           Assumption and Attornment Agreement Between Landlord
and Archipelago. In conjunction with the Archipelago Lease,
Landlord and Archipelago have entered into that certain Assumption and
Attornment Agreement of even date herewith, a copy of which (except for
Exhibits A, B and C thereto) is attached hereto as Exhibit C (the “Assumption
Agreement”). Pursuant to the Assumption Agreement, Archipelago agrees, subject
to the terms and conditions thereof, to assume the obligations of Tenant under
the Lease as amended hereby (including any future amendments thereto and
exercise of extension or renewal options thereunder) (the Assumed Lease”) and
attorn to Landlord thereunder, but only with respect to the Data Rooms (as
defined in the Assumption Agreement), in the event the Assumed Lease shall terminate,
expire  or otherwise be terminated,
rejected or disaffirmed (including rejection or disaffirmation by Tenant
pursuant to any bankruptcy, insolvency or other law affecting creditors’
rights) or Landlord shall elect to exercise its right to re-enter the Premises
without terminating the Assumed Lease. 
In the event of such an assumption and attornment by Archipelago,
Landlord agrees that solely for purposes of calculating damages recoverable by
Landlord from Tenant under Section 20.1.3 of the Original Lease should Landlord
elect to terminate the Assumed Lease under Section 20.1.1 of the Original Lease
(or to treat the Assumed Lease as being terminated thereunder), the Data Rooms
shall be deemed to be excluded from the Assumed Lease (provided that such
exclusion shall not apply to any other provision of the Assumed Lease,
including without limitation, Section 20.1.4 of the Original Lease).  The provisions of this Section 11 shall in
no way be deemed to amend or alter the respective rights and obligations of
Landlord and Archipelago under either (i) the Assumption Agreement or (ii) the
Assumed Lease 

 

*** Certain information on this page has been omitted and filed
separately with the Securities and Exchange Commission. Confidential treatment
has been requested with respect to the omitted portions.

 

 

(including without limitation, Section 20.1.3
of the Original Lease) in the event Archipelago assumes the obligations of
Tenant and attorns to Landlord thereunder pursuant to the Assumption Agreement.

 

12.           Consent to Assignment and/or Sublease to Certain
Affiliates of Tenant. Landlord acknowledges that Tenant may
elect, from time to time, to sublease, and/or assign the Lease as amended
hereby, as to all or portions of the Premises to Terra Nova Trading, L.L.C.
and/or Archipelago Holdings, L.L.C., each of which is an affiliate of the
principals of Tenant, or their respective subsidiaries or affiliates
(collectively, a “Permitted Transfer”), provided that at least fifteen (15) days prior to the effective date
of any such proposed assignment, Tenant shall permit Landlord or its designated
agents to examine the current financial statements of Tenant and the proposed
assignee for Landlord’s approval (which shall not be withheld provided such
financial statements show that the proposed assignee or subtenant is of at
least equivalent financial condition (i.e., tangible net worth and current net
income) as Tenant as determined by Landlord in its reasonable business
judgment) and that the proposed assignment or sublease otherwise complies with
the provisions of Article 10 of the Lease which are not inconsistent with the
foregoing provisions of this Section. Except for a Permitted Transfer, all
other assignments, sublettings, transfers, etc. with respect to the Lease as
amended hereby and the Premises which are or would be covered by the provisions
of Article 10 of the Lease as amended hereby, shall remain subject to the
provisions thereof.

 

13.           Real Estate Broker.  Tenant and Tenant each represents that,
except for Lincoln Property Company Commercial, Inc. (“Broker”), it has not
dealt with any real estate broker, salesperson or finder in connection with
this Amendment and no such person initiated or participated in the negotiation
of this Amendment or is entitled to any fee or commission in connection
herewith. Tenant and Tenant each hereby agrees to indemnify and hold Landlord,
its property manager and their respective agents and employees harmless from
and against any and all damages, liabilities, claims, actions, costs and
expenses (including attorneys’ fees) arising from either (i) any claims or
demands of any broker, other than Broker, salesperson or finder for any fee or
commission alleged to be due such broker, salesperson or finder in connection
with this Amendment or (ii) a claim of, or right to, any lien under the
Statutes of the State of Illinois relating to real estate broker liens with
respect to any such broker, salesperson or finder retained by the indemnifying
party.

 

14.           Submission.  Submission of this Amendment by Landlord or
Landlord’s agent, or their respective agents or representatives, to Tenant for
examination and/or execution shall not in any manner bind Landlord and no
obligations on Landlord shall arise under this Amendment unless and until this
Amendment is fully signed and delivered by Landlord and Tenant; provided,
however, the execution and delivery by Tenant of this Amendment to Landlord or
Landlord’s agent, or their respective agents or representatives, shall
constitute an irrevocable offer by Tenant to amend the Lease on the terms and
conditions herein contained, which offer may not be revoked for ten (10) days
after such delivery.

 

15.           Binding Effect; Conflict.  The Lease as amended hereby shall
continue in full force and effect, subject to  the terms and
provisions thereof and hereof.  In the
event of any conflict between the terms of the Lease and the terms of this
Amendment, the terms of this Amendment shall control.  This Amendment shall be binding upon and inure to the benefit of

 

 

Landlord, Tenant and their respective
successors and permitted assigns.

 

16.           Limitation
of Liability.  Neither
Landlord nor any officer, director, member or employee of Landlord nor any
owner of the Building, whether disclosed or undisclosed, shall have any personal
liability with respect to any of the provisions of the Lease, as hereby
amended, or the Premises, and if Landlord is in breach or default with respect
to Landlord’s obligations under the Lease, as hereby partially assigned and
amended, and the Lease, as amended hereby, or otherwise, Tenant shall look
solely to the equity interest of Landlord in the Building for the satisfaction
of their respective remedies or judgments.

 

17.           Archipelago Lease Contingency.  Notwithstanding anything to the contrary
contained herein, Landlord and Tenant agree that the effectiveness of this
Amendment is contingent upon Landlord and Archipelago entering into the
Archipelago Lease. In the event Landlord and Archipelago fail to enter into the
Archipelago Lease within thirty (30) days after the date of this Amendment,
then at either Landlord’s or Tenant’s option exercised by written notice to the
other, this Amendment shall be null and void and of no further force and
effect, and the Lease shall continue in full force and effect as if this
Amendment had not been entered into.

 

IN WITNESS WHEREOF,
this Amendment is executed as of the day and year aforesaid.

 

	
  TENANT:

  	
  LANDLORD:

  
	
   

  	
   

  
	
  TOWNSEND
  ANALYTICS, LTD., an

  	
  MJH WACKER
  LLC, a Delaware limited

  
	
  Illinois corporation

  	
  liability company

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/MarrGwen Townsend

  	
   

  	
  By:

  	
  /s/John B. Grissim

  	
   

  
	
  Its: 

  	
   

  	
   

  	
  John B. Grissim

  
	
   

  	
  Vice President

  

 

 

EXHIBIT A

 

REDUCTION SPACE

 

[Graphics]

 

 

EXHIBIT A-1

 

LOCATION OF TENANT’S MAIN LOBBY SIGNAGE

 

[Graphics]

 

 

EXHIBIT B

 

THE ARCHIPELAGO LEASE

 

(to be attached)

 

 

EXHIBIT C

 

THE ASSUMPTION AGREEMENT

(EXCLUDING EXHIBITS A, B AND C THERETO)

 

 

(to be attached)

 

 

 

 

20thAMENDMENT TO
OFFICE LEASE

 

THIS 20th AMENDMENT TO OFFICE
LEASE (this
“Amendment”)  is made as of
the 31st day of
October, 2003, by and between MJH WACKER
LLC, a Delaware limited liability company (“Landlord”) and TOWNSEND ANALYTICS, LTD., an Illinois
corporation (“Tenant”).

 

WITNESSETH:

 

A.            Landlord’s
predecessor-in-interest and Tenant entered into a certain lease dated as of
June 3, 1996 (the “Original Lease”), as amended by a letter agreement dated
August 28, 1996 and by Amendments dated as of December 20, 1996, July 17, 1997,
July 31, 1998, November 12, 1998, July 1, 1999, August 27, 1999, September 10,
1999, May 1, 2000, August 31, 2000, October 12, 2000, October 31, 2000, April
13, 2001, two Amendments dated September 27, 2001, two Amendments dated April
30, 2002, two Amendments dated March 31, 2003, and that certain 19th
Amendment of even date herewith (the “19th Amendment”) (the Original
Lease, as amended by such letter agreement and Amendments is referred to herein
as the “Lease”), whereby Landlord’s predecessor-in-interest or Landlord leased
to Tenant certain premises consisting of Suite Nos. 1550 (11,828 rentable
square feet), 1925 (9,393 rentable square feet), 2000 (4,215 rentable square feet), 2040 (9,939 rentable square feet),
2012 (3,241 rentable square feet), 2020 (2,852 rentable square feet), 2015
(3,010 rentable square feet), 2010 (2,033 rentable square feet), 1900 (6,972
rentable square feet), LL2-34 (1,280 rentable square feet) and LL2-005 (10,624
rentable square feet) on the fifteenth (15th), nineteenth (19th)
and twentieth (20th) floors and Lower Level 2 of the building
located at 100 South Wacker Drive, Chicago, Illinois 60606 (the “Building”)
(and as to Suite LL2-34, in the building owned by Landlord located at 150 South
Wacker Drive, Chicago, Illinois) for a term expiring on August 31, 2006, (the
“Termination Date”), and Suite 1510 (consisting of 1,963 rentable square feet
and formerly part of Suite 1506) and
Suite 1506 (1,666 rentable square feet excluding Suite 1510 which was formerly
part of Suite 1506) in the
Building for a term ending on April 30, 2003 (subject to automatic 6-month
extensions thereof if not earlier terminated as provided in the Seventeenth
Amendment to the Lease) (collectively, the “Existing Premises”).

 

B.            Landlord
and Tenant desire to amend the Lease to extend the term of the Lease with
respect to Suite LL2-005 and Suite LL2-34 and to modify certain other
provisions of the Lease, all as set forth herein but not otherwise.

 

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

 

1.             Definitions. Each
capitalized term used in this Amendment shall have the same meaning as is
ascribed to such capitalized term in the Lease, unless otherwise expressly
provided for herein.

 

 

2.             Extension of Term - Suites LL2-005 and  LL2-34.
The Term of the Lease with respect to Suites LL2-005 and LL2-34 of the Existing
Premises (collectively, the “LL2 Existing Premises”) is hereby extended for a
period of approximately seven (7) years and seven (7) months (the “LL2
Extension Term”) commencing on September 1, 2006 (the “LL2 Extension Term
Effective Date”) and continuing to and including the day immediately preceding
the tenth (10th) anniversary of the Expansion Effective Date (as
such term is defined in the Archipelago Lease as defined in Section 2 of the 19th
Amendment), provided that if the Expansion Effective Date is not the first day
of a month, such date shall be extended to the last day of the month in which
the tenth (10th) anniversary of the Expansion Effective Date occurs
(the “LL2 Extension Term Expiration Date”). Landlord and Tenant acknowledge
that notwithstanding the fact that the Thirteenth Amendment to the Lease states
that Suite LL2-34 is located on Lower Level 2 of the Building, it is in fact
located on Lower Level 2 of the building owned by Landlord located at 150 South
Wacker Drive, Chicago, Illinois, and agree that the Lease as amended hereby,
shall be deemed amended to reflect such fact.

 

3.             Annual
Rent.  Commencing on the
LL2 Extension Term Effective Date and continuing to and including the LL2
Extension Term Expiration Date, Annual Rent for the LL2 Existing Premises and
Monthly Installments thereof shall be as set forth below, payable in the manner
provided in Article 3 of the Lease:

 

 

	
  Period

  	
   

  	
  Annual
  Rent

  	
   

  	
  Monthly
  Installments

  	
   

  
	
  09/01/06 -
  08/31/07

  	
   

  	
   

  	
  [***]

  	
   

  	
  [***]

  
	
  09/01/07 -
  08/31/07

  	
   

  	
   

  	
  [***]

  	
   

  	
  [***]

  
	
  09/01/08 -
  08/31/07

  	
   

  	
   

  	
  [***]

  	
   

  	
  [***]

  
	
  09/01/09 -
  08/31/07

  	
   

  	
   

  	
  [***]

  	
   

  	
  [***]

  
	
  09/01/10 -
  08/31/07

  	
   

  	
   

  	
  [***]

  	
   

  	
  [***]

  
	
  09/01/11 -
  08/31/07

  	
   

  	
   

  	
  [***]

  	
   

  	
  [***]

  
	
  09/01/12 -
  08/31/07

  	
   

  	
   

  	
  [***]

  	
   

  	
  [***]

  
	
  09/01/13
  -  LL2 Extension Term  Expiration Date

  	
   

  	
   

  	
  [***]

  	
   

  	
  [***]

  

 

There shall be no abatement of Annual Rent
under or by reason of this Amendment.

 

4.            Tenant’s
Proportionate Share. 
During the LL2 Extension Term, for the purposes of determining Tenant’s
Proportionate Share of Direct Expenses and Taxes pursuant to Article 4 of the
Lease, Tenant’s Proportionate Share with respect to the LL2 Existing Premises
shall be deemed to be zero.

 

*** Certain information on this page has been omitted and filed
separately with the Securities and Exchange Commission. Confidential treatment
has been requested with respect to the omitted portions.

 

 

5.             Condition of Premises.  Tenant’s execution and delivery of this
Amendment shall be conclusive evidence that the LL2 Existing Premises were in
good order and satisfactory condition as of the date hereof.  No agreement of Landlord to alter, remodel,
decorate, clean or improve the LL2 Existing Premises or the Building and no
representation or warranty regarding the condition of the LL2 Existing Premises
or the Building or regarding any other matter of any kind or nature has been
made by or on behalf of Landlord to Tenant under or by reason of this
Amendment.

 

6.             Option to Extend - LL2 Existing Premises.

 

(a)           Provided the Lease
as amended hereby is in full force and effect and that no Event of Default by
Tenant, as defined in the Lease as amended hereby is in existence either on the
date of Tenant’s LL2 Optional Extension Notice (as hereinafter defined) or,
unless waived in writing by Landlord for the purpose of this LL2 Extension
Option (as hereinafter defined), on the LL2 Optional Extension Effective Date,
and provided further that the Lease as amended hereby shall not have
theretofore been assigned (other than pursuant to an assignment not requiring
Landlord’s consent thereto), Tenant shall have the right, at Tenant’s option,
to extend the Term of the Lease as amended hereby with respect to the LL2
Existing Premises for one (1) additional period of five (5) years (the “LL2 Optional Extended Term”) commencing on
the day following the LL2 Extension Term Expiration Date (the “LL2
Optional Extension Effective Date”) and ending on the fifth (5th)  anniversary of the LL2 Extension Term Expiration Date.
Such option to extend (the “LL2 Extension Option”)
shall be exercised by Tenant giving written notice (“Tenant’s
LL2 Optional Extension Notice”) of
the exercise thereof to Landlord at least eighteen (18) but not more than
twenty-one (21) months before the LL2 Extension Term Expiration Date.  If Tenant shall fail to timely give Tenant’s
LL2 Optional Extension Notice as provided herein, the LL2 Extension Option
shall be deemed automatically and irrevocably waived by Tenant. The Term with
respect to the LL2 Existing Premises as extended pursuant to the LL2 Extension
Option shall be upon the same terms, covenants, and conditions as set forth in
the Lease as amended hereby with respect to the LL2 Existing Premises except
that the Base Rent payable with respect to the LL2 Existing Premises during the
LL2 Optional Extended Term, if exercised, shall equal the Market Rate (as
defined below).  In the event Tenant
exercises the LL2 Extension Option as provided herein, then Tenant shall,
within fifteen (15) days after Landlord’s request, execute and deliver an amendment
to the Lease memorializing such exercise and the Rent payable by Tenant with
respect to the LL2 Existing Premises during the LL2 Optional Extended Term.

 

(b)           For
purposes of the LL2 Extension option “Market Rate” shall mean the

 

 

rate then being accepted by landlords for
comparable improved space in the Development and in office buildings comparable
thereto in the West Loop submarket of the downtown Chicago office market on an
“as is” renewal basis for a comparable term, taking into account the use,
location and floor level within the applicable building, and any other relevant
term or condition in making such evaluation, including any tenant improvement
allowances or other leasing concessions offered in connection therewith, all as
reasonably determined by Landlord and provided to Tenant in writing within
thirty (30) days after the date of delivery of Tenant’s LL2 Optional Extension
Notice to Landlord (“Landlord’s Market Rate Notice”).

 

(c)           If
Tenant disputes Landlord’s determination of the Market Rate, then Tenant shall
notify Landlord in writing within fifteen (15) days after the date of delivery
of Landlord’s Market Rate Notice to Landlord that Tenant objects to Landlord’s
determination and in such notice Tenant shall state its determination of the
Market Rate. Landlord and Tenant shall, during the fifteen (15) day period after Tenant’s notice
to Landlord of such objection, attempt in good faith to agree on the Market
Rate.  If Landlord and Tenant are unable
to agree, Tenant shall either (i) accept Landlord’s determination of Market
Rate or (ii) submit the determination to binding arbitration as provided
herein.  If Tenant fails to so notify
Landlord of Tenant’s election under the preceding sentence within said fifteen (15) day period, Tenant shall be
deemed to have accepted Landlord’s determination. If Tenant elects to submit
the determination of the Market Rate to arbitration, Landlord and Tenant shall
each select an arbitrator within fifteen (15) days after Tenant’s election to
arbitrate.  If either Landlord or Tenant
fail to timely appoint an arbitrator, the arbitrator selected shall select the
second (2nd) arbitrator, who shall be impartial, within fifteen (15) days after such party’s failure
to appoint. Each arbitrator must be a licensed real estate broker and have at
least ten (10) years experience in the downtown Chicago, Illinois market in the
leasing of properties which are similar in character to the Building.  The two arbitrators shall, within twenty
(20) days of their appointment, select from the two determinations submitted by
Landlord and Tenant the one that is closer to the Market Rate as determined by
the arbitrators, and said selection shall thereafter be deemed the Market
Rate.  If the two arbitrators so
appointed fail to agree as to which of the determinations submitted by Landlord
and Tenant is the closest to the actual Market Rate, the two arbitrators shall
appoint a third arbitrator within twenty (20) days after the failure of the
initial arbitrators to agree on a Market Rate, to decide upon which of the two
determinations submitted is the closest to the actual Market Rate. The
arbitrators shall not be permitted to choose as the Market Rate any
determination other than the determination presented by either Landlord or
Tenant.  The fees and expenses of any
arbitration shall be borne by the losing party.  The arbitrators’ determination shall be final and binding on the
parties.  If the Market Rate has not
been determined by the LL2 Optional Extension Effective Date, Tenant shall pay
the Market Rate as determined by Landlord until such time as the arbitrators
are able to determine the Market Rate. 
Upon such determination, Rent for the Premises shall be retroactively
adjusted to the LL2 Optional Extension Effective Date. If such

 

 

adjustment results in an underpayment of Rent
by Tenant, Tenant shall pay Landlord the amount of such underpayment within
twenty (20) days after the determination thereof.  If such adjustment results in an overpayment of Rent by Tenant,
Landlord shall credit such overpayment against the next installment of Rent due
under the Lease and, to the extent necessary, any subsequent installments until
the entire amount of such overpayment has been credited against Rent.

 

7.             Consent
to Assignment and/or Sublease to
Certain Affiliates of Tenant. Landlord
acknowledges that Tenant may elect, from time to time, to sublease, and/or
assign the Lease as amended hereby, as to all or portions of the Premises to
Terra Nova Trading, L.L.C. and/or Archipelago Holdings, L.L.C., each of which
is an affiliate of the principals of Tenant, or their respective subsidiaries
or affiliates (collectively, a “Permitted Transfer”), provided that at least
fifteen (15) days prior to the
effective date of any such proposed assignment, Tenant shall permit Landlord or
its designated agents to examine the current financial statements of Tenant and
the proposed assignee for Landlord’s approval (which shall not be withheld
provided such financial statements show that the proposed assignee or subtenant
is of at least equivalent financial condition (i.e., tangible net worth and
current net income) as Tenant as determined by Landlord in its reasonable
business judgment) and that the proposed assignment or sublease otherwise
complies with the provisions of Article 10 of the Lease which are not
inconsistent with the foregoing provisions of this Section.  Except for a Permitted Transfer, all other
assignments, sublettings, transfers, etc. with respect to the Lease as amended
hereby and the Premises which are or would be covered by the provisions of
Article 10 of the Lease as amended hereby, shall remain subject to the
provisions thereof.

 

8.             Real
Estate Broker.  Tenant
and Tenant each represents that, except for Lincoln Property Company
Commercial, Inc. (“Broker”), it has not dealt with any real estate broker,
salesperson or finder in connection with this Amendment and no such person
initiated or participated in the negotiation of this Amendment or is entitled
to any fee or commission in connection herewith. Tenant and Tenant each hereby
agrees to indemnify and hold Landlord, its property manager and their
respective agents and employees harmless from and against any and all  damages,
liabilities, claims, actions, costs and expenses (including attorneys’ fees) arising
from either (i) any claims or demands of any broker, other than Broker,
salesperson or finder for any fee or commission alleged to be due such broker,
salesperson or finder in connection with this Amendment or (ii) a claim of, or
right to, any lien under the Statutes of the State of Illinois relating to real
estate broker liens with respect to any such broker, salesperson or finder
retained by the indemnifying party.

 

9.             Submission.  Submission of this Amendment by Landlord or Landlord’s agent, or
their respective agents or representatives, to Tenant for examination and/or
execution shall not in any manner bind Landlord and no obligations on Landlord
shall arise under this Amendment unless and until this Amendment is fully
signed and delivered by Landlord and Tenant; provided, however, the execution
and delivery by Tenant of this Amendment to Landlord or Landlord’s agent, or
their respective agents or representatives, shall constitute an irrevocable
offer by Tenant to amend the Lease on the terms and conditions herein
contained, which offer may not be revoked for ten (10) days

 

 

after such delivery.

 

10.           Binding Effect; Conflict. The Lease as
amended hereby shall continue in full force and effect, subject to the terms
and provisions thereof and hereof. In the event of any conflict between the
terms of the Lease and the terms of this Amendment, the terms of this Amendment
shall control. This Amendment shall be binding upon and inure to the benefit of
Landlord, Tenant and their respective successors and permitted assigns.

 

11.           Limitation of Liability.  Neither Landlord nor any officer, director,
member or employee of Landlord nor any owner of the Building, whether disclosed
or undisclosed, shall have any personal liability with respect to any of the
provisions of the Lease, as hereby amended, or the Premises, and if Landlord is
in breach or default with respect to Landlord’s obligations under the Lease, as
hereby partially assigned and amended, and the Lease, as amended hereby, or
otherwise, Tenant shall look solely to the equity interest of Landlord in the
Building for the satisfaction of their respective remedies or judgments.

 

12.           Archipelago Lease Contingency.
Notwithstanding anything to the contrary contained herein, Landlord and Tenant
agree that the effectiveness of this Amendment is contingent upon Landlord and
Archipelago entering into the Archipelago Lease (as defined in the 19t
Amendment). In the event Landlord and Archipelago fail to enter into the
Archipelago Lease within thirty (30) days after the date of this Amendment,
then at either Landlord’s or Tenant’s option exercised by written notice to the
other, this Amendment shall be null and void and of no further force and
effect, and the Lease shall continue in full force and effect as if this Amendment
and the 19th Amendment had not been entered into.

 

IN WITNESS WHEREOF,
this Amendment is executed as of the day and year aforesaid.

 

 

	
   

  	
  TENANT:

  	
  LANDLORD:

  
	
   

  	
   

  	
   

  
	
   

  	
  TOWNSEND ANALYTICS, LTD., an

  	
  MJH WACKER LLC, a
  Delaware limited

  
	
   

  	
  Illinois corporation

  	
  liability company

  
	
   

  	
   

  	
   

  

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MarrGwen Townsend

  	
   

  	
  By:

  	
  /s/ John B. Grissim

  
	
   

  	
  Its:

  	
  Vice President

  	
   

  	
   

  	
  John B. Grissim

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Vice President

  

 

 

	
   

  	
  CONSENTED TO as of
  the day and year aforesaid.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  ARCHIPELAGO HOLDINGS, L.L.C.,

  	
   

  
	
   

  	
  An Illinois limited liability company

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/Nelson Chai

  	
   

  	
   

  
	
   

  	
  Its: 

  	
  CFO

  	
   

  	
   

  

 

 

EXHIBIT B

 

Copy of
Generator Agreement

 

 

 

GENERATOR DEVELOPMENT AND LICENSE AGREEMENT

 

This Generator
Development and License Agreement (this “Agreement”) is made as of the 13th day
of April, 2001, by and between LINCOLN-CARLYLE HARTFORD, L.L.C., a Delaware
limited liability company, (“Owner”) and TOWNSEND ANALYTICS, LTD., an Illinois
corporation (“Licensee”).

 

WITNESSETH:

 

WHEREAS, Owner
or Owner’s predecessor in interest and Licensee have entered into that certain
lease dated June 3, 1996, as amended (the “Lease”), of certain premises (the
“Premises”) in the building commonly known as 100 South Wacker Drive, Chicago,
Illinois 60606 (the “Building”);

 

WHEREAS, Owner
intends to install, in the locations shown on Attachment 1 hereto, four (4)
emergency generators (the “Generators”) and related equipment (the “Related
Equipment”) described on Attachment 2 hereto (which Related Equipment shall be
deemed to include the Connecting Equipment, as hereinafter defined, unless
otherwise indicted), provided Licensee contributes to the cost of and performs
certain portions of such installation as provided herein; and.

 

WHEREAS, in
connection with the Lease, Licensee desires a license to access and use certain
space identified on Attachment 1 attached hereto (the “Licensed Space”) for the
purpose of repairing, replacing, maintaining, testing and operating three (3)
of the Generators (“Licensee’s Generators”) and their related equipment
(“Licensee’s Related Equipment”) described as Licensee’s in Attachment 2
attached hereto.

 

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

 

1. GRANT AND
TERM OF LICENSE. Owner, subject to and in consideration of the covenants and
agreements made by Licensee herein contained, does hereby grant unto the
Licensee, for a term commencing on the date of substantial completion of the
installation of the Generators and Related Equipment and coterminous with the
term of the Lease (as the same may be extended or renewed), unless sooner
terminated as provided herein, a license to access and utilize the Licensed
Space for the purpose of repairing, replacing, maintaining, testing and
operating Licensee’s Generators and Licensee’s Related Equipment in order to
obtain emergency standby or back-up power only to the Premises (or portions
thereof) and any supplemental HVAC units serving same.

 

2.
INSTALLATION OF THE GENERATORS AND RELATED EQUIPMENT.

 

(a) The Generators and Related Equipment (other than the Connecting
Equipment, as hereinafter defined) shall be installed by Owner or its
designated contractors (“Owner’s Contractors”) in accordance with the plans and
specifications therefor attached hereto as Attachment 2 (“the “Plans”). Such
installation is hereinafter referred to as “Owner’s Work”. Following full
execution of this Agreement, Owner shall promptly solicit. bids to perform
Owner’s Work from at least two (2) reputable general contractors selected by
Owner

 

 

and shall
provide copies of such bids to Licensee. Owner agrees to select the low bidder
to be Owner’s Contractor unless otherwise requested or approved in writing by
Licensee. Promptly after Owner’s Contractor is selected, Owner shall cause the
Owner’s Contractor to perform Owner’s Work covered by the Plans.

 

(b) Following substantial completion of Owner’s Work, Licensee or its
designated contractors (as pre-approved by Owner) (“Licensee’s Contractors”)
shall install the Connecting Equipment (as hereinafter defined) in accordance
with the Plans (“Licensee’s Work”). Licensee, Licensee’s employees and
Licensee’s Contractors shall perform Licensee’s Work in harmony and without
interfering with or delaying Owner or Owner’s Contractor in doing the Owner’s
Work or with Owner or any person or entity doing work in the Building, whether
for Owner or another tenant or occupant of the Building. All persons and
entities performing work or supplying materials to Licensee shall use only
those service corridors and service entrances designated by Owner for ingress
and egress of personnel, and the delivery and removal of equipment and material
through or across any common areas of the Building shall only be permitted with
the prior approval of Owner, not to be unreasonably withheld, and during hours
reasonably determined by Owner. Owner shall have the right to order Licensee,
any of Licensee’s Contractors or any of their respective agents, employees or
contractors who violates the above requirements or interferes with the use,
occupancy and/or quiet enjoyment of other tenants of the Building to cease work
until such time as such violation or interference is remedied. Within thirty
(30) days after substantial completion of Licensee’s Work by or on behalf of
Licensee, Licensee shall furnish to Owner “as built” drawings of Licensee’s
Work. Licensee’s Work shall be performed in accordance with Owner’s standard
construction rules and regulations for the Building.

 

(c) Each of Owner and Licensee shall cause its respective Work, to be
done in a first class workerlike manner using only grades of materials equal to
or better than those specified by the Plans and in compliance with all
governmental laws, ordinances, codes, rules and regulations applicable at the
time of the performance thereof.

 

(d) Each of Owner and Licensee acknowledge that they have reviewed and
approved the Plans and that the specifications for Licensee’s Generators and
Licensee’s Related Equipment meet their respective requirements.

 

3. PAYMENT OF
INSTALLATION COSTS.

 

(a) The approved budget for Owner’s Work (the “Budget”) is attached
hereto as Attachment 3. Licensee shall be responsible for the following
portions of the cost of Owner’s Work (including, without limitation, the portion
of Owner’s project administration fee applicable thereto): (i) 50% of all costs
(including cost overruns) included within the “Soft Cost” category of the
Budget, (ii) 75% of all costs (including cost overruns) included within the
“Hard Cost -

 

 

General
Construction” category of the Budget, and (iii) 100% of all costs (including
cost overruns) included within the “Townsend Analytics” category of the Budget;
and Owner shall be responsible for the remainder of the costs of Owner’s Work.
Any portion of the cost of Owner’s Work which is not particularly specified in
the Budget shall be allocated to one of the categories thereof by Owner in its
reasonable discretion. The “cost of Owner’s Work” as used in this Agreement
shall include all third-party costs incurred by Owner to plan, design and
perform Owner’s Work as specified by the Plans and any approved revisions
thereof, including without limitation, the fees and charges of Owner’s
architect, Owner’s engineer and Owner’s Contractor, all permit and inspection
fees and charges, and any costs incurred by or charged to Owner for (i)
unforseen field conditions, (ii) substitution of materials or finishes due to
the unavailability of materials or finishes specified in the Plans (as revised)
that would materially delay substantial completion of Owner’s Work, (iii)
necessary modification of any portions of the Building or its systems to
accommodate Owner’s Work, and (iv) any change to comply with applicable laws,
regulations, codes or ordinances and/or the requirements of any building
inspector with jurisdiction over Owner’s Work, plus a project administration
fee payable to Owner in the amount of seven percent (7%) of all other costs of
Owner’s Work. Owner shall advise Licensee from time to time in the event Owner
reasonably estimates that the aggregate amount payable by Licensee as its share
of the cost of Owner’s Work shall exceed the aggregate amount of such cost
projected to be payable by Licensee by the Budget.

 

(b) Licensee shall reimburse Owner for Licensee’s share of the cost of
Owner’s Work incurred by Owner from time to time during the performance thereof
within ten (10) days after Licensee’s receipt from Owner or its managing agent
of a reasonably detailed invoice and payout schedule therefor (which payout schedule
shall show payment dates, amounts yet to be paid, parties to be paid and the
nature of the work to be performed or materials to be supplied by such party),
together with reasonable documentation supporting the costs covered thereby
which shall include copies of paid invoices, contractor’s affidavit from
Owner’s general contractor and lien waivers from all parties shown on such
contractor’s affidavit or directly paid by Owner covering the costs subject to
reimbursement by Licensee. In the event Licensee fails to timely pay its share
of any portion of the cost of Owner’s Work, Owner shall be entitled to suspend
the performance of Owner’s Work until such time as such payment is received by
Owner. Licensee shall be responsible for 100% of all costs incurred (including
cost overruns) for Licensee’s Work and shall timely pay such costs directly to
Licensee’s Contractors.

 

4. MAINTENANCE
AND OPERATING COSTS. Licensee shall arrange and timely pay for all utilities,
fuel and other costs incurred to repair, replace, maintain, test and operate
Licensee’s Generators and Licensee’s Related Equipment.

 

 

5. COMPLIANCE
WITH LAWS. Prior to the installation of Licensee’s Generators and Licensee’s
Related Equipment and throughout the term of this Agreement, Licensee shall
secure and shall at all times thereafter maintain all required approvals and
permits of all governmental bodies having jurisdiction thereover. Licensee
shall at all times comply with all laws, regulations, codes and ordinances, and
all rules, regulations, orders and directives of municipal, state and federal
governmental authorities relating to the repair, maintenance, testing and
operation of Licensee’s Generators and Licensee’s Related Equipment, including,
without limitation, all environmental and hazardous materials laws, rules,
regulations, codes, ordinances, orders and directives applicable thereto.

 

6. INSURANCE.
At all times during the term of this Agreement, Licensee, and during the
performance of Licensee’s Work, Licensee’s Contractors, shall maintain general
commercial liability, casualty and other insurance coverage in such forms and
amounts, and with such insurers, as Owner may reasonably require. To the extent
Owner requires insurance coverage in addition to that which Licensee is required
to carry under the Lease, Licensee shall cause Owner and such other parties as
may be designated by Owner from time to time to be covered as additional
insureds. Prior to commencing Licensee’s Work, Licensee shall deliver to Owner
certificates of insurance evidencing that such insurance coverage is in effect.

 

7. LICENSEE’S
ACCESS; CONNECTING EQUIPMENT.

 

(a) Owner hereby grants unto Licensee and Licensee’s Contractors the
right, to be exercised as herein set forth, to enter upon the Licensed Space
for the sole purpose of gaining access to and repairing, replacing,
maintaining, testing and operating Licensee’s Generators and Licensee’s Related
Equipment, provided, however, Licensee shall orally notify Owner or its
managing agent (or the Building’s on-site security personnel during hours when
the Building’s management office is closed) each time Licensee or Licensee’s
Contractors requires such access, other than pursuant to an access schedule
previously approved by Owner. In addition thereto, Owner grants unto Licensee
and Licensee’s Contractors the right, to be exercised as herein set forth, to
install in connection with and as a part of Licensee’s Generators and
Licensee’s Related Equipment such equipment, conduits, cables and materials
(hereinafter called “the Connecting Equipment”) in shafts, ducts, conduits,
chases, utility closets and other facilities of the Building, upon the terms
hereinafter provided, as designated in the Plans to connect Licensee’s
Generators and Licensee’s Related Equipment to Licensee’s other machinery and
equipment in the Premises, subject to the requirements of any permits and the
rules, regulations, orders and directives of any governmental body, agency or
authority with jurisdiction thereover. Owner further grants to Licensee and Licensee’s
Contractors the right of access to the areas where such Connecting Equipment is
located for the purposes of maintaining, repairing, replacing, testing,
replacing or, to the extent permitted or required hereby, removing the
Connecting Equipment, provided, however, Licensee shall orally notify Owner or
its managing agent (or the Building’s on-site security personnel during hours
when the Building’s management office is closed) Owner each time Licensee or
Licensee’s Contractors requires such access, other than pursuant to an access
schedule previously approved by Owner.

 

 

(b) Anything herein to the contrary notwithstanding, Licensee shall
orally notify Owner or its managing agent (or the Building’s on-site security
personnel during hours when the Building’s management office is closed) each
time Licensee or Licensee’s Contractors desires to enter upon the Licensed
Space or other areas outside the Premises where Licensee’s Related Equipment is
located, other than pursuant to an access schedule previously approved by
Owner, and Licensee and Licensee’s Contractors shall enter upon the Licensed
Space and other areas only at such times, in such manner and under such
circumstances as shall not (i) cause damage to the Building or any equipment,
machinery or facilities located therein or endangerment of life or limb or (ii)
interfere with the operation or maintenance of any part of the Building or with
any other tenant’s use, occupancy or quiet enjoyment of its premises or the
common areas of the Building.

 

(c) Access to the Licensed Space and other areas of the Building as
permitted hereunder shall be provided by Owner or its managing agent (or the
Building’s on-site security personnel during hours when the Building’s
management office is closed) each time Licensee or Licensee’s Contractors
requires such access.

 

(d) During the term hereof, Licensee shall be entitled to install,
maintain, operate, test, replace and remove surveillance equipment located
within the Licensed Space and connections therefrom to the Premises, for the
purpose of providing surveillance of Licensee’s Generators and Licensee’s
Related Equipment, subject to Owner’s prior written consent of the location,
plans and specifications thereof (which shall not be unreasonably withheld or
delayed). Access to the Licensed Space and other areas of the Building for the
purpose of installing, maintaining, operating, testing, replacing and removing
such surveillance equipment shall be subject to the provisions of this Section
as if such equipment were part of Licensee’s Related Equipment. Any
interference caused by such surveillance equipment shall be subject to the
provisions of Section 9 of this Agreement as if such surveillance equipment
were part of Licensee’s Related Equipment.

 

8. MAINTENANCE
OF LICENSED GENERATORS AND RELATED EQUIPMENT. Licensee, at its expense, shall
be solely responsible for repairing, maintaining, testing and operating
Licensee’s Generators and Licensee’s Related Equipment in a safe, structurally
sound, clean and sightly condition and in strict compliance with all laws,
codes, ordinances, rules, regulations, orders and directives of any
governmental authority with jurisdiction thereover and of Owner’s insurer,
including providing to such parties any certifications required by such parties
in connection therewith.

 

9. OPERATION
AND TESTING OF LICENSED GENERATORS. Except for periodic scheduled testing,
Licensee’s Generators and Licensee’s Related Equipment shall be operated only
during electrical utility outages. Licensee shall establish a schedule of dates
for testing of Licensee’s Generators and Licensee’s Related Equipment, which
schedule shall be subject to Owner’s prior written approval (which shall not be
unreasonably withheld or delayed). Testing shall take place at hours designated
by Owner. Testing shall not be permitted during normal business hours (7:00
a.m. to 6:00 p.m. Monday through Friday and 8:00 a.m. to 1:00 p.m. Saturday)
unless otherwise agreed to by Owner in Owner’s sole

 

 

discretion. Licensee shall test
and operate the Generator and Related Equipment in strict accordance with the
terms and conditions of this Agreement and such testing and operation shall not
interfere with the use, occupancy and/or quiet enjoyment of other tenants of
the Building. Licensee shall take all appropriate steps to insure quiet
operation of Licensee’s Generators and Licensee’s Related Equipment consistent
with a sound level acceptable in a normal office environment, as determined by
Owner in its reasonable discretion. In the event that Owner notifies Licensee
of any interference in the use, occupancy and/or quiet enjoyment of other
tenants of Building from Licensee’s Generators and Licensee’s Related Equipment
(including but not limited to, interference resulting from harmonics, buzzing
conduit, noisy operation or any other noise or vibration), Licensee shall
promptly after such notice take all necessary and commercially reasonable
measures to eliminate such interference. During the term of this Agreement,
Owner shall not repair, replace, maintain, test or operate Licensee’s
Generators and/or Licensee’s Related Equipment without Licensee’s prior written
consent, except that if Licensee fails to comply with any provision of this
Agreement (including, but not limited to, eliminating any interference or
ceasing operation as provided herein) and such failure continues after notice
thereof from Owner to Licensee, which notice is reasonable under the
circumstances, Owner shall have the right, but not the obligation, to cure such
failure whereupon Licensee shall reimburse Owner for any and all reasonable
costs incurred by Owner in connection therewith.

 

10. INDEMNITY.
Except to the extent caused by the negligence or wilful misconduct of the
indemnified party in the maintenance or operation of the Building, Licensee
agrees to defend (with counsel reasonably satisfactory to Owner), indemnify and
save harmless Owner, its members and its and their members, partners,
shareholders, officers, directors, agents, employees and servants and to assume
all liability for death or injury to any persons and all liability for loss,
damage or injury to any property, and any other liability, loss, cost, claim,
damage or expense (including without limitation all liens and claims of
mechanics and materialmen furnishing labor and materials) incurred or sustained
by Owner, its members and its and their members, partners, shareholders,
officers, directors, agents, employees and servants arising from, growing out
of or resulting from the performance of Licensee’s Work, Licensee’s repair,
maintenance, testing and/or operation of Licensee’s Generators and Licensee’s
Related Equipment, Licensee’s access to and/or use of the Licensed Space or any
other areas in the Building where Licensee’s Generators and Licensee’s Related
Equipment is located, or Licensee’s exercise of its rights or default of its
obligations under this Agreement, including costs, reasonable attorney’s fees
and other expenses incurred by Owner in defending any such liability, loss,
cost, claim, damage or expense.

 

11. WAIVER OF
CLAIMS. Licensee hereby waives and releases all claims against Owner, its
members and its and their members, partners, shareholders, officers, directors,
agents, employees and servants, and agrees that they shall not be liable for
injury to person or damage to property sustained by Licensee or by any occupant
of the Building or any other person occurring in or about the Building
resulting directly or indirectly from any existing or future condition, defect,
matter or thing in the Building or any part of it or from

 

 

equipment or appurtenance
becoming out of repair, or from any occurrence, act, or from the negligence or
omission of any tenant or occupant of the Building or of any other person,
except to the extent caused by the negligence or wilful misconduct of the
released party in the maintenance or operation of the Building.

 

12.
ALTERATIONS. Licensee shall not change, materially alter, replace or remove
Licensee’s Generators and Licensee’s Related Equipment without the prior
written consent of Owner provided that Owner shall not unreasonably withhold or
delay its consent to any changes, alterations or replacements which are
required to maintain, test or operate Licensee’s Generators and Licensee’s
Related Equipment in proper working order and/or to comply with this Agreement
or with applicable laws, codes, ordinances, rules, regulations, orders and
directives of any governmental authority with jurisdiction thereover and
Owner’s insurer, provided that in no event shall Licensee remove Licensee’s
Generators and/or Licensee’s Related Equipment (or any portion thereof) except
as part of a permitted replacement thereof. All changes, alterations and/or
replacements of Licensee’s Generators and/or Licensee’s Related Equipment (or
any portion thereof) which Licensee is permitted to perform hereunder shall
comply strictly with Article 6 of the Lease as if the Licensed Space were the
Premises and Licensee’s Generators and Licensee’s Related Equipment were
located within the Premises.

 

13. TERMINATION
OF AGREEMENT. If the Lease or Licensee’s right to possession of the premises
shall be terminated or terminable after the date of this Agreement, because of
any default by Licensee under the Lease after the expiration of any applicable
cure or grace period, or if Licensee shall default in any of its obligations
under this Agreement and such default remains uncured for a period of ten (10)
business days after written notice thereof to Licensee (or such longer period
as to which Owner shall consent in writing, which consent shall not be
unreasonably withheld provided Licensee notifies Owner in writing that it
cannot reasonably effect cure within such ten (10) business day period due to
causes beyond the reasonable control of Licensee, which notice shall be given
to Owner prior to the expiration of such ten (10) business day period and shall
contain a description of the causes beyond Licensee’s reasonable control which
are delaying such cure and Licensee’s good faith estimate of the additional
period of time required for Licensee to effect cure, and further provided that
Licensee commences efforts to effect cure within such ten (10) business day
period and diligently pursues same to completion), then Owner, at Owner’s sole
option, may elect to terminate this Agreement by written notice to Licensee.

 

14. NOTICES.
All notices required to be given hereunder shall be given in accordance with
Article 28 of the Lease except as otherwise expressly provided herein.

 

15.
DOCUMENTATION. Licensee shall provide Owner with copies of all documentation
and notices from insurers or governmental authorities with respect to
Licensee’s Generators and Licensee’s Related Equipment, including but not
limited to, contractors’ and manufacturers’ warranties; consultant’s reports;
service and maintenance contracts; testing and maintenance reports and logs,
and

 

 

certifications; notices from
any tenants of the Building; and any other information or document with respect
thereto of any material significance. Such documentation shall be provided to
Owner promptly upon the creation or receipt thereof by Licensee and in no event
more than seven (7) days after creation or receipt thereof by Licensee.

 

16. OWNERSHIP
OF THE GENERATORS AND RELATED EQUIPMENT. Notwithstanding anything contained in this
Agreement, including, without limitation, Licensee’s contribution toward the
cost of the installation thereof as provided herein, ownership of Licensee’s
Generators and Licensee’s Related Equipment shall, upon substantial completion
of Owner’s Work, vest solely in Licensee, subject to the terms and provisions
of this Agreement, and upon Licensee’s request, Owner shall execute and deliver
to Licensee bills of sale or such other documentation as Licensee shall
reasonably request documenting such ownership by Licensee. In no event shall
Licensee mortgage, hypothecate, grant a security interest in or permit a lien
of any sort to attach to or be filed against Licensee’s Generators and/or
Licensee’s Related Equipment (or any portion thereof), nor shall Tenant sell,
convey or transfer all or any part of its ownership interest therein to any
party except to an assignee of or subtenant under the Lease pursuant to a
Permitted Transfer as defined in the Twelfth Amendment to the Lease. Upon the
expiration or earlier termination of this Agreement, ownership of Licensee’s
Generators and Licensee’s Related Equipment (other than the Connecting
Equipment removed by Licensee with Owner’s consent pursuant to Section 16
above) shall automatically vest solely in Owner and Licensee shall not retain
any ownership interest therein. Upon Owner’s request, Licensee shall execute
and deliver to Owner bills of sale or such other documentation as Owner shall
reasonably request evidencing such transfer of ownership to Owner. At all times
before, during and after the term of this Agreement ownership of the Generators
and Related Equipment not comprising Licensee’s Generators and Licensee’s
Related Equipment shall vest solely in Owner and Licensee shall not acquire any
ownership interest therein.

 

17.
ENFORCEMENT COSTS. In the event the parties hereto become involved in any
action or proceeding arising out of or in connection with this Agreement
(including, without limitation, the enforcement or interpretation of this
Agreement or either party’s rights, duties or obligations hereunder), the
prevailing party shall, subject to the provisions of local law, be entitled to
recover from the non-prevailing party all reasonable expenses of attorney’s
fees, paralegal fees and costs, expenses and disbursements incurred by the
prevailing party in such action or proceeding, without the necessity for a
cross-action by the prevailing party. Such reimbursement shall include, all
such expenses incurred prior to and at any such action or proceeding and at all
levels of appeal and post judgment proceedings.

 

18. SUCCESSORS
AND ASSIGNS. This Agreement shall be binding upon the successors and assigns of
the parties hereto, provided that Licensee shall not assign or transfer this
Agreement to any other person (other than to an assignee of or subtenant under
the Lease pursuant to a Permitted Transfer as defined in the Twelfth Amendment
to the Lease or to any other assignment or sublease permitted under the Lease
or as to which Owner consents) without Owner’s prior written consent which may
be withheld in its sole discretion.

 

19. LIMITATION
OF OWNER’S LIABILITY. It is expressly understood and agreed by and between the
parties hereto, anything herein to the contrary notwithstanding, that the
liability of Owner hereunder shall be limited as provided in Article 42 of the
Lease.

 

 

IN WITNESS
WHEREOF, the parties to this Agreement have caused the same to be signed by
their authorized signatories the day and year first above written.

 

	
  OWNER:

  	
  LICENSEE:

  
	
   

  	
   

  
	
  LINCOLN-CARLYLE
  HARTFORD, L.L.C.,

  	
  TOWNSEND
  ANALYTICS, LTD., an

  
	
  a Delaware
  limited liability company

  	
  Illinois
  corporation

  
	
   

  	
   

  
	
  By: 

  	
  Lincoln
  Hartford, LLC, a Delaware limited

  liability company, Managing Member

  	
  By:

  	
    /s/
  MarrGwen Townsend

  
	
   

  	
   

  	
   

  	
   

  	
  Its:

  	
   

  
	
   

  	
  By: 

  	
  LINCOLN INVESTORS GROUP 3, INC., a

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Texas corporation, Managing Member

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:  

  	
  /s/ 

  	
  John B. Grissim

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  John B.
  Grissim

  	
   

  
	
   

  	
   

  	
   

  	
  Vice
  President

  	
   

  
								

 

 

 

 

ATTACHMENT 1

 

FLOOR PLAN OF LICENSED AREA

 

[Graphics]

 

 

 

 

ATTACHMENT 2

 

PLANS AND SPECIFICATIONS FOR

THE GENERATOR AND RELATED EQUIPMENT

 

 

Patten Power Systems

615 W. Lake Street

Elmhurst, IL 60126

 

Attn. Scott Orsini

Phone 630-530-2200

 

 

Cummins Onan Northern Illinois

8745 W. 82nd Place

Justice IL 60458

 

Attn. Robert S. Alfini

Phone 708-563-7070

 

 

Charles Equipment Co.

1140 Fullerton Ave

Addison IL 60101

 

Attn John Conway

Phone 630-834-6000

 

 

 

SKETCH E-2

100/150 S. WACKER

EMG-1 EMERGENCY GENERATOR

LOAD STEP DATA

	
  LOAD

  STEP

  	
   

  	
  LOAD DESCRIPTION

  	
   

  	
  LOAD TYPE

  	
   

  	
  LOAD

  	
   

  	
  STARTING
  METHOD

  	
   

  	
  MAX

  VOLTAGE

  DIP

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1

  	
   

  	
  100 S WACKER EM LIGHTS 

  	
   

  	
  FLUORESCENT LIGHTING

  	
   

  	
  112
  1/2 KVA 

  	
   

  	
  ACROSS THE LINE 

  	
   

  	
  35

  	
  %

  
	
   

  	
   

  	
  150 S WACKER EM LIGHTS

  	
   

  	
  FLUORESCENT LIGHTING

  	
   

  	
  150
  KVA

  	
   

  	
  ACROSS THE LINE

  	
   

  	
  35

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2

  	
   

  	
  GENERATOR AUXILIARY LOADS

  	
   

  	
  MULTIMOTOR INDUCTION

  	
   

  	
  75
  HP

  	
   

  	
  ACROSS THE LINE

  	
   

  	
  30

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  3

  	
   

  	
  100 S WACKER ELEVATOR

  	
   

  	
  INDUCTION MOTOR

  	
   

  	
  75
  HP

  	
   

  	
  ACROSS THE LINE

  	
   

  	
  30

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  4

  	
   

  	
  150 S WACKER ELEVATOR

  	
   

  	
  INDUCTION MOTOR

  	
   

  	
  100
  HP

  	
   

  	
  ACROSS THE LINE

  	
   

  	
  30

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  5

  	
   

  	
  150  S WACKER FIRE PUMP #1

  	
   

  	
  INDUCTION MOTOR

  	
   

  	
  40
  HP

  	
   

  	
  REDUCED VOLTAGE SOLID STATE

  	
   

  	
  15

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  6

  	
   

  	
  150  S WACKER FIRE PUMP #2

  	
   

  	
  INDUCTION MOTOR

  	
   

  	
  50
  HP

  	
   

  	
  REDUCED VOLTAGE SOLID STATE

  	
   

  	
  15

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  7

  	
   

  	
  100 S WACKER FIRE PUMP #1

  	
   

  	
  MULTI MOTOR HVAC

  	
   

  	
  100
  HP

  	
   

  	
  REDUCED VOLTAGE SOLID STATE

  	
   

  	
  15

  	
  %

  

 

                MAX LOAD ON THIS GENERATOR IS 80% OF RATING
PER CITY OF CHICAGO CODE

 

 

SKETCH E-4

100/150 S. WACKER

TG-1, TG-2, TG-3 PARALLELED STANDBY GENERATORS

LOAD STEP DATA

	
  LOAD

  STEP

  	
   

  	
  LOAD DESCRIPTION

  	
   

  	
  LOAD TYPE

  	
   

  	
  LOAD

  	
   

  	
  STARTING
  METHOD

  	
   

  	
  MAX

  VOLTAGE

  DIP

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
  LL2 DATA CENTER FEEDER 1

  	 

	
  1

  	
   

  	
  LL2 DATA CENTER UPS A

  	
   

  	
  UPS

  12  PULSE RECTIFIER,

  113 % RECHARGE CURRENT

  	
   

  	
  450
  KW

  	
   

  	
  ACROSS THE LINE

  	
   

  	
  10

  	
  %

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
  2

  	
   

  	
  LL2 LIGHTS AND CONTROL
  POWER

  	
   

  	
  FLUORESCENT LIGHTING

  	
   

  	
  30
  KVA

  	
   

  	
  ACROSS THE LINE

  	
   

  	
  30

  	
  %

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
  3

  	
   

  	
  500 TON CHILLER

  	
   

  	
  INDUCTION MOTOR

  	
   

  	
  400
  KW

  	
   

  	
  STAR DELTA

  	
   

  	
  30

  	
  %

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
  GENERATOR AUXILIARY LOADS

  	
   

  	
  MULTIMOTOR INDUCTION

  	
   

  	
  140
  HP

  	
   

  	
  ACROSS THE LINE

  	
   

  	
  30

  	
  %

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
  4

  	
   

  	
  CONDENSER WATER PUMP

  	
   

  	
  INDUCTION MOTOR

  	
   

  	
  40
  HP

  	
   

  	
  ACROSS THE LINE

  	
   

  	
  30

  	
  %

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
  5

  	
   

  	
  CHILLED WATER PUMP

  	
   

  	
  INDUCTION MOTOR

  	
   

  	
  50
  HP

  	
   

  	
  ACROSS THE LINE

  	
   

  	
  30

  	
  %

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
  6

  	
   

  	
  FAN COILS

  	
   

  	
  MULTI MOTOR HVAC

  	
   

  	
  100
  HP

  	
   

  	
  ACROSS THE LINE

  	
   

  	
  30

  	
  %

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
  LL2 DATA CENTER FEEDER 2

  	 

	
  7

  	
   

  	
  LL2 DATA CENTER UPS B

  	
   

  	
  UPS

  12 PULSE RECTIFIER,

  113 % RECHARGE CURRENT

  	
   

  	
  450
  KW

  	
   

  	
  ACROSS THE LINE

  	
   

  	
  10

  	
  %

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
  8

  	
   

  	
  LL2 LIGHTS

  	
   

  	
  FLUORESCENT LIGHTING

  	
   

  	
  30
  KVA

  	
   

  	
  ACROSS THE LINE

  	
   

  	
  30

  	
  %

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
  9

  	
   

  	
  FAN COILS

  	
   

  	
  MULTI MOTOR HVAC

  	
   

  	
  70
  HP

  	
   

  	
  ACROSS THE LINE

  	
   

  	
  00

  	
  %

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
  19-20 DATA CENTER FEEDER

  	 

	
  10

  	
   

  	
  COMPUTER ROOM UPS SYSTEM

  	
   

  	
  UPS

  12 PULSE RECTIFIER,

  113 % RECHARGE CURRENT

  	
   

  	
  240
  KW

  	
   

  	
  ACROSS THE LINE

  	
   

  	
  10

  	
  %

  	
     

  LOADS SHALL START ON RUN ON
  TWO OF THREE MACHINES

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
  11

  	
   

  	
  MISC LIGHTS AND CONTROL
  PANEL

  	
   

  	
  FLUORESCENT LIGHTING

  	
   

  	
  45
  KVA

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
  12

  	
   

  	
  HVAC UNIT 1

  	
   

  	
  MULTIMOTOR HVAC

  	
   

  	
  81
  AMPS

  	
   

  	
  ACROSS THE LINE

  	
   

  	
  30

  	
  %

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
  13

  	
   

  	
  HVAC UNIT 2

  	
   

  	
  MULTIMOTOR HVAC

  	
   

  	
  81
  AMPS

  	
   

  	
  ACROSS THE LINE

  	
   

  	
  30

  	
  %

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
  14

  	
   

  	
  HVAC UNIT 3

  	
   

  	
  MULTIMOTOR HVAC

  	
   

  	
  81
  AMPS

  	
   

  	
  ACROSS THE LINE

  	
   

  	
  30

  	
  %

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
  15

  	
   

  	
  HVAC UNIT 4

  	
   

  	
  MULTIMOTOR HVAC

  	
   

  	
  81
  AMPS

  	
   

  	
  ACROSS THE LINE

  	
   

  	
  30

  	
  %

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
  16

  	
   

  	
  CHILLED WATER PUMP #1

  	
   

  	
  INDUCTION MOTOR

  	
   

  	
  11
  AMPS

  	
   

  	
  ACROSS THE LINE

  	
   

  	
  30

  	
  %

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
  17

  	
   

  	
  CHILLED WATER PUMP #2

  	
   

  	
  INDUCTION MOTOR

  	
   

  	
  11
  AMPS

  	
   

  	
  ACROSS THE LINE

  	
   

  	
  30

  	
  %

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
  18

  	
   

  	
  FAN COILS

  	
   

  	
  MULTI MOTOR HVAC

  	
   

  	
  200
  AMPS

  	
   

  	
  ACROSS THE LINE

  	
   

  	
  30

  	
  %

  	 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	 

	
  BACK-UP FEEDER TO BUILDING
  EM LIGHTING

  	 

	
  19

  	
   

  	
  EMERGENCY LIGHTING LOADS
  FROM LOAD STEP 1 OF SKETCH E-2

  	
  LOADS SHALL BE MANUALLY 

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  CONNECTED ONLY IF THREE 

  
	
  BACK-UP FEEDER TO BUILING
  UPS SAFETY LOADS

  	
  MAHCINES ARE IN OPERATION

  
	
  20

  	
   

  	
  LIFE SAFETY LOADS FROM LOAD
  STEP 2-7 OF SKETCH E-2

  	 

 

 

 

100
S. WACKER

BD-1 Bid
Form

all performance data shall be guaranteed

	
   

  	
   

  	
   

  	
   

  	
  EMG-1

  	
   

  	
  TG-1,
  TG-2, TG-3

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Manufacturer

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Price for specified equipment and services

  	
   

  	
  dollars

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Price included above for taxes

  	
   

  	
  dollars

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Price included above for freight

  	
   

  	
  dollars

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Nominal Rating of Generator

  	
   

  	
  kva/kw

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Largest Motor Starting Voltage Drop

  	
   

  	
  %

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Step Which Largest Voltage Drop Occurs

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Engine size

  	
   

  	
  hp

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  No. of cylinders

  	
   

  	
  qty

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Heat Rate — LHV

  	
   

  	
  btu/kw-hr

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Fuel Rate

  	
   

  	
  btu/hr

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Fuel Rate

  	
   

  	
  gph

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Heat Rejected

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  to Jacket Water

  	
   

  	
  btu/min

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  to Exhaust

  	
   

  	
  btu/min

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  to Atmosphere

  	
   

  	
  btu/min

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  to Oil Cooler

  	
   

  	
  btu/min

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  to Aftercooler

  	
   

  	
  btu/min

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Combustion Inlet Air

  	
   

  	
  cfm

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Exhaust Stack Temperature

  	
   

  	
  F

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Exhaust Flow Rate

  	
   

  	
  cfm

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Mechanical Sound Level

  	
   

  	
  dBA @ 23 ft.

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Exhaust Sound Level

  	
   

  	
  dBA @ 23 ft.

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Physical Dimension

  	
   

  	
  L x W x H

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Provide outline drawing
  with proposal showing all location and sizes of all customer connections

  
	
  Weight

  	
   

  	
  lbs

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Paralleling Switchgear Dimension

  	
   

  	
  L x W x H

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Manufacturer

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

 

 

 

	
   

  	
  1OO/150 S
  WACKER

  
	
   

  	
  SKETCH E-3

  
	
   

  	
  STANDBY
  GENERATOR

  
	
   

  	
  SINGLE LINE
  DIAGRAM

  

 

[Graphics]

 

 

 

 

	
   

  	
  1OO/150 S WACKER

  
	
   

  	
  SKETCH E-3

  
	
   

  	
  STANDBY GENERATOR

  
	
   

  	
  SINGLE LINE DIAGRAM

  

 

 

[Graphics]

 

 

ATTACHMENT 3

 

BUDGET FOR INSTALLATION OF

THE GENERATOR AND RELATED EQUIPMENT

 

 

Townsend Analytics / Hartford Plaza

EMERGENCY GENERATOR PROJECT

Preliminary Scope and Budget

Revised March 30, 2001

 

	
  Preliminary
  Scope Includes:

  	
  Demolish
  Vault Room

  
	 
	
  Install one
  800 kw Emergency Generator for 100 Building

  
	 
	
  Install
  three 1500 kw Emergency Generator for Townsend Analytics

  
	 
	
  Update
  Infrastructure for Generator Farm

  

 

 

[***]

 

 

*** Certain  information on this page has been omitted
and filed separately with the 
Commission.  Confidential  treatment has been requested with respect to
the omitted portions.

 

 

EMERGENCY GENERATOR PROJECT -
Revised Budget, Cont.

Revised March 30, 2001

 

[***]

 

 

	
  Townsend
  Analytics

  
	
  Agreed and
  Accepted:

  
	
   

  
	
  By:

  	
   /s/MarrGwen
  Townsend

  	
   

  
	
   

  	
   

  	
   

  
	
  Its:

  	
   

  	
   

  
	
   

  
	
   

  
	
  Lincoln-Carlyle
  Hartford, L.L.C.

  
	
  Agreed and
  Accepted:

  
	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Its:

  	
   

  	
   

  
					

 

 

*** Certain  information on this page has been omitted
and filed separately with the 
Commission.  Confidential  treatment has been requested with respect to
the omitted portions.

 

 

CONSTRUCTION COST SUMMARY

 

Hartford Plaza
Generator/Chiller Project

PERIOD ENDING 03/31/01

 

[***]

 

 

*** Certain  information on this page has been omitted
and filed separately with the 
Commission.  Confidential  treatment has been requested with respect to
the omitted portions.

 

 

Hartford Plaza
Generator/Chiller Project

PERIOD ENDING 03/31/01

 

[***]

 

 

*** Certain  information on this page has been omitted
and filed separately with the 
Commission.  Confidential  treatment has been requested with respect to
the omitted portions.

 

 

 

 

Hartford Plaza
Generator/Chiller Project

PERIOD ENDING 03/31/01

 

[***]

 

 

*** Certain  information on this page has been omitted
and filed separately with the 
Commission.  Confidential  treatment has been requested with respect to
the omitted portions.

 

 

FIRST AMENDMENT TO

GENERATOR DEVELOPMENT AND LICENSE AGREEMENT

 

This First Amendment to Generator Development and License Agreement
(this “Amendment”) is made as of the 31st day of July, 2002, by and between
LINCOLN-CARLYLE HARTFORD, L.L.C., a Delaware limited liability company,
(“Owner”) and TOWNSEND ANALYTICS, LTD., an Illinois corporation (“Licensee”).

 

WITNESSETH:

 

WHEREAS, Owner and Licensee have entered into that certain Generator
Development and License Agreement dated April 13, 2001 (the “Agreement”),
granting Licensee a license to access and use certain space identified on
Attachment 1 attached thereto (the “Licensed Space”) in the building commonly
known as 100 South Wacker Drive, Chicago, Illinois 60606 (the “Building”) for
the purpose of repairing, replacing, maintaining, testing and operating three
(3) emergency generators (“Licensee’s Generators” and their related equipment;

 

WHEREAS, Owner and Licensee wish to amend the Agreement to correct the
depiction of the Licensed Space set forth therein and set forth certain duties
of Owner with respect to the maintenance of Licensee’s Generators.

 

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

 

1. DEFINITIONS. Each capitalized term used in this Amendment shall have
the same meaning as is ascribed to such capitalized term in the Agreement,
unless otherwise provided for herein.

 

2. CORRECTION OF DEPICTION OF LICENSED SPACE. The depiction of the
Licensed Space set forth on Attachment 1 to the Agreement is hereby deleted and
replaced by the depiction set forth on Attachment 1 to this Amendment. The
revised depiction of the Licensed Space shall be deemed effective retroactive
to the date of the Agreement.

 

3. MAINTENANCE OF LICENSED GENERATORS AND RELATED EQUIPMENT.
Section 8 of the Agreement is hereby amended by adding the following after
the last sentence thereof

 

“Notwithstanding the foregoing, Owner agrees to perform certain
inspection and monitoring activities with respect to the Licensee’s Generators
and to initiate and facilitate certain maintenance thereof by Licensee’s
Contractors as set forth on Attachment 2 hereto, provided that Licensee may at
any time and from time to time, upon written notice thereof to Owner, elect to
perform any or all of such activities. Licensee agrees to promptly reimburse
Owner for the cost of employees and/or independent contractors of Owner and/or
Owner’s managing agent for performance of such activities, as invoiced from
time to time by Owner to Licensee, which cost shall be included as part of the
cost to be reimbursed to Owner for activities performed by Owner pursuant to
that certain Supplemental HVAC System

 

 

Operating and License Agreement of even date herewith between Owner and
Licensee. Licensee also agrees to timely pay Licensee’s Contractors for all
services performed by them pursuant to this Section.”

 

4. INDEMNITIES. Section 10 of the Agreement is hereby amended and
restated in its entirety as follows:

 

“10. INDEMNITIES.

 

(a) INDEMNITY BY LICENSEE. Except to the
extent caused by the negligence or wilful misconduct of the indemnified party
in the maintenance or operation of the Building, Licensee agrees to defend (with
counsel reasonably satisfactory to Owner), indemnify and save harmless Owner,
its members and its and their members, partners, shareholders, officers,
directors, agents, employees and servants and to assume all liability for death
or injury to any persons and all liability for loss, damage or injury to any
property, and any other liability, loss, cost, claim, damage or expense
(including without limitation all liens and claims of mechanics and materialmen
furnishing labor and materials) incurred or sustained by Owner, its members and
its and their members, partners, shareholders, officers, directors, agents,
employees and servants arising from, growing out of or resulting from the
performance of Licensee’s Work, Licensee’s repair, maintenance, testing and/or
operation of Licensee’s Generators and Licensee’s Related Equipment, Licensee’s
access to and/or use of the Licensed Space or any other areas in the Building
where Licensee’s Generators and Licensee’s Related Equipment is located, or
Licensee’s exercise of its rights or default of its obligations under this
Agreement, including costs, reasonable attorney’s fees and other expenses
incurred by Owner in defending any such liability, loss, cost, claim, damage or
expense, provided that in no event shall Licensee’s obligations under this
Section apply to any indirect, consequential or punitive damages, any loss
of business or profits nor to any liability, loss, cost, claim, damage or
expense arising from any of the foregoing exclusions.

 

(b) INDEMNITY BY OWNER. Except to the extent
caused by (1) the negligence or wilful misconduct of Licensee, Licensee’s
Contractors or any of their respective agents, employees or contractors or (2)
any cause as to which Licensee is obligated to indemnify under Section 10(a)
above, Owner agrees to defend (with counsel reasonably satisfactory to
Licensee), indemnify and save harmless Licensee, its members, partners,
shareholders, officers, directors, agents, employees, contractors and servants
from and to assume all liability for death or injury to any persons and all
liability for loss, damage or injury to any property, and any other liability,
loss, cost, claim, damage or expense (including without limitation the charges
of Licensee’s

 

 

Contractors)incurred or sustained by Licensee, its members, partners,
shareholders, officers, directors, agents, employees, contractors and servants
directly resulting from Owner’s material default of its obligations under this
Agreement, including all costs, reasonable attorney’s fees and other expenses
incurred by the indemnified party in defending any such liability, loss, cost,
claim, damage or expense, provided that in no event shall Owner’s obligations
under this Section apply to any indirect, consequential or punitive
damages, any loss of business or profits nor to any liability, loss, cost,
claim, damage or expense arising from any of the foregoing exclusions.”

 

5. WARRANTY. Owner warrants that the original installation of
Licensee’s Generators and Licensee’s Related Equipment performed by Owner shall
be free from defects in materials and workmanship for a period of one (1) year
from the date of substantial completion thereof. The foregoing warranty applies
only to the original installation of Licensee’s Generators and Licensee’s Related
Equipment performed by Owner and not to the equipment comprising Licensee’s
Generators and Licensee’s Related Equipment. Owner shall assign to Licensee all
manufacturer’s warranties for the equipment comprising Licensee’s Generators
and Licensee’s Related Equipment, or if such warranties are not assignable,
Owner shall enforce same on behalf of Licensee provided that Licensee pays (or
promptly reimburses Owner upon demand) for all costs and expenses (including,
without limitation, reasonable attorneys fees) incurred in enforcing same.

 

6. SUCCESSORS AND ASSIGNS. This Amendment shall be binding upon the
successors and assigns of the parties hereto, provided that Licensee shall not
assign or transfer the Agreement as amended hereby to any other person (other than
to an assignee of or subtenant under the Lease pursuant to a Permitted Transfer
as defined in the Twelfth Amendment to the Lease or to any other assignment or
sublease permitted under the Lease or as to which Owner consents) without
Owner’s prior written consent which may be withheld in its sole discretion. 

 

7. CONFLICT. The Agreement, as amended hereby, shall continue in full
force and effect, subject to the terms and provisions thereof and hereof. In
the event of any conflict between the terms of the Agreement and the terms of
this Amendment, the terms of this Amendment shall control.

 

8. LIMITATION OF OWNER’S LIABILITY. It is expressly understood and
agreed by and between the parties hereto, anything herein to the contrary
notwithstanding, that the liability of Owner under the Agreement as amended
hereby shall be limited as provided in Section 19 of the Agreement.

 

 

IN WITNESS WHEREOF, the parties to this Amendment have caused the same
to be signed by their authorized signatories the day and year first above
written.

 

 

	
  OWNER:

  	
  LICENSEE:

  

 

	
  LINCOLN-CARLYLE HARTFORD, L.L.C.,

  	
  TOWNSEND ANALYTICS, LTD., an

  
	
  a Delaware limited liability company

  	
  Illinois corporation

  
	
   

  	
   

  
	
  By:

  	
  Lincoln Hartford, LLC, a Delaware limited

  liability company, Managing Member

  	
  By:

  	
   /s/ MarrGwen Townsend

  
	
   

  	
   

  	
   

  	
  Its:

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  LINCOLN INVESTORS GROUP 3, INC., a

  Texas corporation, Managing Member

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:  

  	
  /s/ 

  	
  John B. Grissim

  	
   

  	
   

  
	
   

  	
   

  	
  John B. Grissim

  	
   

  	
   

  
	
   

  	
   

  	
  Vice President

  	
   

  	
   

  

 

 

ATTACHMENT 1

REVISED FLOOR PLAN OF LICENSED SPACE

 

[Graphics]

 

 

ATTACHMENT 2

 

SCHEDULE OF SERVICES TO BE PERFORMED BY
OWNER

 

Subject to Force Majeure (as hereinafter defined), Building engineers
shall perform the following services with respect to Licensee’s Generators:

 

A.                                   Inspect air handling
units and where required, initiate service call to Licensee’s designated
service contractor to change filters, lubricate fan motors and/or
adjust/replace belts.

 

B.                                     Monitor tube and
shell plate heat exchangers and where required, initiate service call to
Licensee’s designated service contractors to clean same.

 

As used herein, “Force Majeure” shall mean any inability to perform due
in whole or in part to any strike, lockout, labor trouble, civil disorder,
riot, insurrection, act of terrorism, war, accident, fire or other casualty,
adverse weather condition, act of God, governmental inaction, restrictive
governmental law or regulation, inability to procure parts, materials,
electricity, gas, other fuel or water or other utilities at the Building after
reasonable effort to do so, failure of telecommunications or computer equipment
or services, act or event caused directly or indirectly by the act, omission or
default of Licensee, Licensee’s Contractors and their respective agents,
employees and/or contractors, or any other cause beyond the reasonable control
of Owner.

 

 

EXHIBIT C

 

Copy of the
HVAC Agreement

 

 

 

SUPPLEMENTAL HVAC SYSTEM OPERATING AND LICENSE AGREEMENT

 

This
Supplemental HVAC System Operating and License Agreement (this “Agreement”) is
made as of the 31st day of July, 2002, by and between LINCOLN-CARLYLE HARTFORD,
L.L.C., a Delaware limited liability company, (“Owner”) and TOWNSEND ANALYTICS,
LTD., an Illinois corporation (“Licensee”).

 

W  I  T  N  E  S
S  E  T  H:

 

WHEREAS, Owner
or Owner’s predecessor in interest and Licensee have entered into that certain
lease dated June 3, 1996, as amended (the “Lease”), of certain premises (the
“Premises”) in the building commonly known as 100 South Wacker Drive, Chicago,
Illinois 60606 (the “Building”);

 

WHEREAS, Owner
has installed, in the location shown on Attachment 1 hereto, a supplemental
HVAC system to serve the Suite LL2-005 Expansion Space (as defined in the
Twelfth Amendment to the Lease) described on Attachment 2 hereto (the
“Supplemental HVAC System”) (which Supplemental HVAC System shall be deemed to
include the Connecting Equipment, as hereinafter defined, unless otherwise set
forth herein); and

 

WHEREAS, in
connection with the Lease, Licensee desires a license to access and use certain
space identified as the hatched area of the “Chiller Room” (and a detailed
outline drawing thereof denoted as “LL2 Data Center Chiller Plant”) on
Attachment I attached hereto (the “Licensed Space”) for the purpose of
inspecting, repairing, replacing, maintaining, testing and operating the Supplemental
HVAC System.

 

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

 

l.      GRANT AND TERM OF LICENSE.
Owner, subject to and in consideration of the covenants and agreements made by
Licensee herein contained, does hereby grant unto the Licensee, for a term
commencing on the date hereof and coterminous with the term of the Lease (as
the same may be extended or renewed), unless sooner terminated as provided
herein, a license to access and utilize the Licensed Space for the purpose of
inspecting, repairing, replacing, maintaining, testing and operating the
Supplemental HVAC System in order to provide supplemental HVAC service to the
Suite LL2-005 Expansion Space.

 

2.     MAINTENANCE AND OPERATING
COSTS. Licensee shall timely pay (or promptly reimburse Owner, if applicable)
for all utilities, fuel and other costs incurred to inspect, repair, replace,
maintain, test and operate the Supplemental HVAC System.

 

3.     COMPLIANCE WITH LAWS.
Throughout the term of this Agreement, Licensee shall secure and shall at all
times thereafter maintain all required approvals and permits of all
governmental bodies having jurisdiction over the Supplemental HVAC System.
Licensee shall, at its sole cost and expense, at all times comply with all
laws, regulations, codes and ordinances, and all rules, regulations, orders and
directives of municipal, state and. federal governmental authorities relating
to the inspection, repair, maintenance, testing and operation of the
Supplemental HVAC System, including, without limitation, all environmental and
hazardous materials laws, rules, regulations, codes,

 

 

ordinances,
orders and directives applicable thereto.

 

4.     INSURANCE. At all times
during the term of this Agreement, Licensee and contractors engaged or
designated by Licensee (and pre-approved by Owner) to inspect, repair, replace,
maintain, test and operate the Supplemental HVAC System (“Licensee’s
Contractors”), shall maintain general commercial liability, casualty and other
insurance coverage in such forms and amounts, and with such insurers, as Owner
may reasonably require. To the extent Owner requires insurance coverage in
addition to that which Licensee is required to carry under the Lease, Licensee
shall cause Owner and such other parties as may be designated by Owner from
time to time to be covered as additional insureds. Upon Owner’s request,
Licensee shall deliver or cause Licensee’s Contractors to deliver to Owner
certificates of insurance evidencing that such insurance coverage is in effect.

 

5.     LICENSEE’S ACCESS;
CONNECTING EQUIPMENT. Owner hereby grants unto Licensee and Licensee’s
Contractors the right, to be exercised as herein set forth, to enter upon the
Licensed Space or other areas adjacent to the Licensed Space and/or the Suite
LL2-005 Expansion Space for the sole purpose of gaining access to and
inspecting, repairing, replacing, maintaining, testing and operating the
Supplemental HVAC System, provided, however, Licensee shall orally notify Owner
or its managing agent (or the Building’s on-site security personnel during
hours when the Building’s management office is closed) each time Licensee or
Licensee’s Contractors requires such access, other than pursuant to an access
schedule previously approved by Owner. Owner further grants to Licensee and
Licensee’s Contractors the right of access to the areas where such equipment,
conduits, cables and materials installed in connection with and as a part of
the Supplemental HVAC System in shafts, ducts, conduits, chases, utility
closets and other facilities of the Building (herein called the “Connecting
Equipment”) is located for the purposes of inspecting, maintaining, repairing,
replacing, testing, replacing or,. to the extent permitted or required hereby,
removing same, provided, however, Licensee shall orally notify Owner or its
managing agent (or the Building’s on-site security personnel during hours when
the Building’s management office is closed) Owner each time Licensee or
Licensee’s Contractors requires such access, other than pursuant to an access
schedule previously approved by Owner. Licensee and Licensee’s Contractors
shall enter upon the Licensed Space or other areas outside the Premises where
the Supplemental HVAC System is located only at such times, in such manner and
under such circumstances as shall not (i) cause damage to the Building or any
equipment, machinery or facilities located therein or endangerment of life or
limb or (ii) interfere with the operation or maintenance of any part of the
Building or with any other tenant’s use, occupancy or quiet enjoyment of its
premises or the common areas of the Building.

 

6.     MAINTENANCE OF LICENSED
SUPPLEMENTAL HVAC SYSTEM. Licensee, at its expense, shall be solely responsible
for inspecting, repairing, maintaining, testing and operating the Supplemental
HVAC System (including the computerized monitoring system therefor which for
the purposes of this Agreement shall be deemed part of the Supplemental HVAC
System) in a safe, structurally sound, clean and sightly condition and in
strict compliance with all laws, codes, ordinances, rules, regulations, orders
and directives of any governmental authority with jurisdiction thereover and of
Owner’s insurer, including providing to such parties any certifications
required by such parties in connection therewith. Licensee shall cause the
computerized monitoring system

 

 

 

for the
Supplemental HVAC System to be designed, programmed, equipped and operated at
all times so as to provide Licensee’s designated personnel and the Building
engineering staff (and in case of critical alerts, the security desk at 150
South Wacker Drive building) with automatic alert pages whenever such system
detects an abnormal condition requiring inspection, maintenance and/or
emergency action and Licensee’s designated personnel shall promptly respond to
such alerts. Notwithstanding the foregoing, Owner agrees to perform certain
inspection and monitoring activities with respect to the Supplemental HVAC
System and to initiate routine maintenance and facilitate scheduled maintenance
thereof by Licensee’s Contractors as set forth on Attachment 2 hereto, provided
that Licensee may at any time and from time to time, upon written notice
thereof to Owner, elect to perform any or all of such activities. Licensee
agrees to promptly reimburse Owner for the cost of employees and/or independent
contractors of Owner and/or Owner’s managing agent for performance of such
activities, as invoiced from time to time by Owner to Licensee, in accordance
with the schedule of charges for such activities attached hereto as Attachment
3. Licensee also agrees to timely pay Licensee’s Contractors for all services
performed by them pursuant to this Agreement.

 

7.     OPERATION OF SUPPLEMENTAL HVAC
SYSTEM. The Supplemental HVAC System may be operated whenever Licensee requires
supplemental HVAC service to the Suite LL2-005 Expansion Space. Licensee shall
operate the Supplemental HVAC System in strict accordance with the terms and
conditions of this Agreement and such operation shall not interfere with the
use, occupancy and/or quiet enjoyment of other tenants of the Building.

 

8.     INDEMNITY BY LICENSEE.
Except to the extent caused by the negligence or wilful misconduct of the
indemnified party in the maintenance or operation of the Building, Licensee
agrees to defend (with counsel reasonably satisfactory to Owner), indemnify and
save harmless Owner, its members, its managing agent and their respective
members, partners, shareholders, officers, directors, agents, employees,
contractors and servants from and to assume all liability for death or injury
to any persons and all liability for loss, damage or injury to any property,
and any other liability, loss, cost, claim, damage or expense (including without
limitation all liens and claims of mechanics and materialmen furnishing labor
and materials) incurred or sustained by Owner, its members, its managing agent
and their respective members, partners, shareholders, officers, directors,
agents, employees, contractors and servants arising from, growing out of or
resulting from (a) the inspection, repair, maintenance, testing and/or
operation of the Supplemental HVAC System and Connecting Equipment by Licensee,
Licensee’s Contractors and their respective agents, employees and/or
contractors, (b) access to and/or use of the Licensed Space or any other areas
in the Building where the Supplemental HVAC System and Connecting Equipment is
located by Licensee, Licensee’s Contractors and their respective agents, employees
and/or contractors, or (c) Licensee’s exercise of its rights or default of its
obligations under this Agreement, including all costs, reasonable attorney’s
fees and other expenses incurred by the indemnified party in defending any such
liability, loss, cost, claim, damage or expense, provided that in no event
shall Licensee’s obligations under this Section apply to any indirect,
consequential or punitive damages, any loss of business or profits nor to any
liability, loss, cost, claim, damage or expense arising from any of the
foregoing exclusions.

 

 

9.     INDEMNITY BY OWNER. Except
to the extent caused by (a) the negligence or wilful misconduct of Licensee,
Licensee’s Contractors or any of their respective agents, employees or
contractors or (b) any cause as to which Licensee is obligated to indemnify
under Section 8 above, Owner agrees to defend (with counsel reasonably
satisfactory to Licensee), indemnify and save harmless Licensee, its members,
partners, shareholders, officers, directors, agents, employees, contractors and
servants from and to assume all liability for death or injury to any persons
and all liability for loss, damage or injury to any property, and any other
liability, loss, cost, claim, damage or expense (including without limitation the
charges of Licensee’s Contractors) incurred or sustained by Licensee, its
members, partners, shareholders, officers, directors, agents, employees,
contractors and servants directly resulting from Owner’s material default of
its obligations under this Agreement, including all costs, reasonable
attorney’s fees and other expenses incurred by the indemnified party in
defending any such liability, loss, cost, claim, damage or expense, provided
that in no event shall Owner’s obligations under this Section apply to any
indirect, consequential or punitive damages, any loss of business or profits
nor to any liability, loss, cost, claim, damage or expense arising from any of
the foregoing exclusions.

 

10.   WAIVER OF CLAIMS. Licensee
hereby waives and releases all claims against Owner, its members, its managing
agent and their respective members, partners, shareholders, officers,
directors, agents, employees, contractors and servants, and agrees that they
shall not be liable for injury to person or damage to property sustained by
Licensee, Licensee’s Contractors and their respective agents, employees and/or
contractors or by any occupant of the Building or any other person occurring in
or about the Building resulting directly or indirectly from any existing or
future condition, defect, matter or thing in the Building or any part of it or
from equipment or appurtenance becoming out of repair, or from any occurrence,
act, or from the negligence or omission of Owner, its members, its managing
agent and their respective members, partners, shareholders, officers,
directors, agents, employees, contractors and servants, any tenant or occupant
of the Building or of any other person, except to the extent covered by Owner’s
indemnity obligations under Section 9 hereof or caused by the negligence or
wilful misconduct of the released party in the maintenance or operation of the
Building.

 

11.   ALTERATIONS. Licensee shall
not change, materially alter, replace or remove the Supplemental HVAC System
and/or Connecting Equipment without the prior written consent of Owner provided
that Owner shall not unreasonably withhold or delay its consent to any changes,
alterations or replacements which are required to maintain, test or operate the
Supplemental HVAC System and/or Connecting Equipment in proper working order
and/or to comply with this Agreement or with applicable laws, codes,
ordinances, rules, regulations, orders and directives of any governmental
authority with jurisdiction thereover and Owner’s insurer, provided that in no
event shall Licensee remove the Supplemental HVAC System and/or Connecting
Equipment (or any portion thereof) except as part of a permitted replacement
thereof. All changes, alterations and/or replacements of the Supplemental HVAC
System and/or Connecting Equipment (or any portion thereof) which Licensee is
permitted to perform hereunder shall comply strictly with Article 6 of the
Lease as if the Licensed Space were the Premises and the Supplemental HVAC
System and/or Connecting Equipment were located within the Premises.

 

 

12.   TERMINATION OF AGREEMENT. If
the Lease or Licensee’s right to possession of the Premises shall be terminated
or terminable after the date of this Agreement, because of any default by
Licensee under the Lease after the expiration of any applicable cure or grace
period, of if Licensee shall default in any of its obligations under this
Agreement and such default remains uncured for a period of ten (10) business
days after written notice thereof to Licensee (or such longer period as to
which Owner shall consent in writing, which consent shall not be unreasonably
withheld provided Licensee notifies Owner in writing that it cannot reasonably
effect cure within such ten (10) business day period due to causes beyond the
reasonable control of Licensee, which notice shall be given to Owner prior to
the expiration of such ten (10) business day period and shall contain a
description of the causes beyond Licensee’s reasonable control which are
delaying such cure and Licensee’s good faith estimate of the additional period
of time required for Licensee to effect cure, and further provided that
Licensee commences efforts to effect cure within such ten (10) business day
period and diligently pursues same to completion), then Owner, at Owner’s sole
option, may elect to terminate this Agreement by written notice to Licensee.

 

13.   NOTICES. All notices
required to be given hereunder shall be given in accordance with Article 28 of
the Lease except as otherwise expressly provided herein.

 

14.   DOCUMENTATION. Licensee shall
provide Owner with copies of all documentation and notices from insurers or
governmental authorities with respect to the Supplemental HVAC System,
including but not limited to, contractors’ and manufacturers’ warranties;
consultant’s reports; service and maintenance contracts; testing and
maintenance reports and logs, and certifications; notices from any tenants of
the Building; and any other information or document with respect thereto of any
material significance. Such documentation shall be provided to Owner promptly
upon the creation or receipt thereof by Licensee and in no event more than
seven (7) days after creation or receipt thereof by Licensee.

 

15.   FORCE MAJEURE. Without being
limited by any of the other provisions of this Agreement, if Licensor or
Licensee fails to perform timely any of the terms, covenants or conditions of
this Agreement on such party’s part to be performed, and such failure is due in
whole or in part to any strike, lockout, labor trouble, civil disorder, riot,
insurrection, act of terrorism, war, accident; fire or other casualty, adverse
weather condition, act of God, governmental inaction, restrictive governmental
law or regulation, inability to procure materials, electricity, gas, other fuel
or water or other utilities at the Building after reasonable effort to do so,
act or event caused directly or indirectly by or by default of the other party
or any of the other party’s employees, agents, or contractors, or any cause
beyond the reasonable control of such party, then such party shall not be
deemed in default under this Agreement as a result of such failure for the
period that such cause persists.

 

16.   OWNERSHIP OF THE
SUPPLEMENTAL HVAC SYSTEM. Except as set forth below, ownership of the
Supplemental HVAC System shall vest solely in Licensee, subject to the terms
and provisions of this Agreement. In no event shall Licensee mortgage,
hypothecate, grant a security interest in or permit a lien of any sort to
attach to or be filed against the Supplemental HVAC System (or any portion
thereof), nor shall Licensee sell, convey or transfer all or any part of its
ownership interest therein to any party except to an assignee of or subtenant
under the Lease pursuant to a Permitted Transfer as defined in the Twelfth
Amendment to the Lease. Upon the expiration or earlier termination of this
Agreement, ownership of the Supplemental HVAC System shall automatically

 

 

vest solely in
Owner and Licensee shall not retain any ownership interest therein. Upon
Owner’s request, Licensee shall execute and deliver to Owner bills of sale or
such other documentation as Owner shall reasonably request evidencing such
transfer of ownership to Owner.

 

17.   WARRANTY. Owner warrants
that the original installation of the Supplemental HVAC System performed by Owner
shall be free from defects in materials and workmanship for a period of one (1)
year from the date of substantial completion thereof. The foregoing warranty
applies only to the original installation of the Supplemental HVAC System
performed by Owner and not to the equipment comprising the Supplemental HVAC
System. Owner shall assign to Licensee all manufacturer’s warranties for the
equipment comprising the Supplemental HVAC System, or if such warranties are
not assignable, Owner shall enforce same on behalf of Licensee provided that
Licensee pays (or promptly reimburses Owner upon demand) for ail costs and
expenses (including, without limitation, reasonable attorneys fees) incurred in
enforcing same.

 

18.   ENFORCEMENT COSTS. In the
event the parties hereto become involved in any action or proceeding arising
out of or in connection with this Agreement (including, without limitation, the
enforcement or interpretation of this Agreement or either party’s rights,
duties or obligations hereunder), the prevailing party shall, subject to the
provisions of local law, be entitled to recover from the non-prevailing party
all reasonable expenses of attorney’s fees, paralegal fees and costs, expenses
and disbursements incurred by the prevailing party in such action or proceeding,
without the necessity for a cross-action by the prevailing party. Such
reimbursement shall include all such expenses incurred prior to and at any such
action or proceeding and at all levels of appeal and post judgment proceedings.

 

19.   SUCCESSORS AND ASSIGNS. This
Agreement shall be binding upon the successors and assigns of the parties
hereto, provided that Licensee shall not assign or transfer this Agreement to
any other person (other than to an assignee of or subtenant under the Lease
pursuant to a Permitted Transfer as defined in the Twelfth Amendment to the
Lease) without Owner’s prior written consent which may be withheld in its sole
discretion.

 

20.   LIMITATION OF OWNER’S
LIABILITY. It is expressly understood and agreed by and between the parties
hereto, anything herein to the contrary notwithstanding, that the liability of
Owner hereunder shall be limited as provided in Article 42 of the Lease.

 

IN WITNESS
WHEREOF, the parties to this Agreement have caused the same to be signed by
their authorized signatories the day and year first above written.

 

	
  OWNER:

  	
  LICENSEE:

  
	
   

  	
   

  
	
  LINCOLN-CARLYLE
  HARTFORD, L.L.C.,

  	
  TOWNSEND
  ANALYTICS, LTD., an

  
	
  a Delaware
  limited liability company

  	
  Illinois
  corporation

  
	
   

  	
   

  
	
  By:

  	
  Lincoln
  Hartford, LLC, a Delaware limited

  	
   

  
	
   

  	
  liability
  company, Managing Member

  	
  By:

  	
    /s/
  MarrGwen Townsend

  	
   

  

 

 

	
  By:

  	
  LINCOLN
  INVESTORS GROUP 3, INC., a

  	
  Its:

  	
   

  	
   

  
	
   

  	
  Texas
  corporation, Managing Member

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ John B.
  Grissim

  	
   

  	
   

  
	
   

  	
  John B. Grissim

  	
   

  
	
   

  	
  Vice President

  	
   

  
						

 

 

 

 

ATTACHMENT 1

 

FLOOR PLAN OF LICENSED AREA

 

 

[Graphics]

 

 

 

 

[Graphics]

 

 

 

ATTACHMENT 2

 

SCHEDULE OF SERVICES TO BE PERFORMED BY OWNER

 

BUILDING
ENGINEERS

 

Subject to Force Majeure (as
hereinafter defined), at least one (1) Building engineer shall be on duty on a
24-hours per day (8-hour shift), 7-days a week basis to perform the following
services with respect to the Supplemental HVAC System:

 

Daily Services

 

A.                                   Keep
a separate log book of inspections and repairs, providing copies of daily log
sheets to Licensee on a monthly basis.

 

B.                                     Engineer-on-duty
to carry a pager at all times during his shift for trouble alarms (with
security desk at the 150 South Wacker Drive building to respond after-hours to
critical alerts) sent by Licensee’s computerized monitoring system.

 

C.                                     Visually
inspect operational equipment and record system status readings for specific
components, twice per 8-hour shift.

 

D.                                    Monitor
system performance on an on-going basis using Licensee’s computerized
monitoring system located in 150 South Wacker Drive building engineering
office.

 

 

E.                                      When
an abnormal or other condition necessitating routine maintenance is indicated
by visual inspection or computer monitoring, initiate service call to
Licensee’s designated service contractor. If condition constitutes an emergency
or requires non-routine maintenance, contact designated personnel of Licensee
by pager or telephone and consult with such personnel on condition and
appropriate action to be taken by Licensee.

 

F.                                      Grant
access to and facilitate scheduled and routine maintenance by Licensee’s
Contractors.

 

Twice Weekly
Services

 

A. Inspect and clean river
water strainers and where repair and/or replacement required, initiate service
call to Licensee’s designated service contractor.

 

Ouarterly
Services

 

A.                                   Inspect
and clean river water pump strainers and where repair and/or replacement
required, initiate service call to Licensee’s designated service contractor.

 

“As Needed”
Services

 

A.                                   Inspect
and clean river water clip strainers and where repair and/or replacement
required, initiate service call to Licensee’s designated service contractor.

 

B.                                     In
the event the Supplemental HVAC System is inoperable or temporarily inadequate
to meet Licensee’s requirements as indicated by existing monitoring systems,
provide HVAC service from the Building’s master HVAC system until remedied.

 

Emergency
Priority

 

Subject to Force Majeure,
Owner’s life safety obligations, and the requirements of all applicable laws,
codes, regulations, ordinances, insurance requirements and orders of any lawful
authority, the Building engineers shall give priority to their obligations
hereunder over their other duties in emergency and other cases where the safe
and/or proper functioning of the Supplemental HVAC System is then, or is
reasonably expected to be imminently, affected in a material adverse manner.

 

ON-SITE
INVENTORY

 

Owner shall organize and
provide dedicated space in the lower level of the Building for a parts
inventory for the Supplemental HVAC System, such parts to

 

 

be ordered and purchased by Licensee
at its sole cost and expense.

 

FORCE MAJEURE

 

As used in this Attachment 2,
“Force Majeure” shall mean any inability to perform due in whole or in part to
any strike, lockout, labor trouble, civil disorder, riot, insurrection, act of
terrorism, war, accident, fire or other casualty, adverse weather condition,
act of God, governmental inaction, restrictive governmental law or regulation,
inability to procure parts, materials, electricity, gas, other fuel or water or
other utilities at the Building after reasonable effort to do so, failure of
telecommunications or computer equipment or services, act or event caused
directly or indirectly by the act, omission or default of Licensee, Licensee’s
Contractors and their respective agents, employees and/or contractors, or any
other cause beyond the reasonable control of Owner.

 

 

 

 

ATTACHMENT 3

 

SCHEDULE OF OWNER CHARGES

 

For Daily, Twice Weekly and
Quarterly Services described on Attachment 2 hereto and those services
described on Attachment 2 to that certain First Amendment to Generator
Development and License Agreement of even date herewith between Owner and
Licensee, Owner shall charge Licensee for four (4) hours of engineering time
per day at the straight time engineering rate, billed on a monthly basis. The
initial straight time engineering rate shall be $45.00 per hour, subject to
increases in accordance with union contracts then in effect from time to time.

 

For “As Needed”, emergency or
other non-routine services performed by Owner hereunder, Owner shall charge
Licensee for the actual personnel time incurred to perform such services at the
Building-standard rates therefor then in effect. Such charges shall be billed
to Licensee as incurred and shall be accompanied by reasonable supporting
documentation therefor.

 

 

 

 

EXHIBIT D

 

Floor Plan of the 20th Floor Data Room

 

[Graphics]

 

 

EXHIBIT E

 

Technical Specifications for the New Data RoomExhibit 10.33

 

EXECUTION COPY

 

AMENDED AND RESTATED FACILITY
SERVICES AGREEMENT

 

This AMENDED AND RESTATED
FACILITY SERVICES AGREEMENT (“Agreement”) is made and entered into as of this
22nd day of March, 2002 by and between Archipelago Holdings, L.L.C., a Delaware
limited liability company (the “Company”), Pacific Exchange, Inc., a Delaware
corporation (“PCX”), and PCX Equities, Inc., a Delaware corporation and a
wholly owned subsidiary of PCX (“PCX Equities”).

 

R E C I T A L S

 

WHEREAS, the Company owns
all of the limited liability company interests of Wave Securities, L.L.C.
(formerly known as Archipelago, L.L.C.), an Illinois limited liability company
(“WAVE”) and all of the limited liability company interests of REDIBook ECN
LLC, a Delaware limited liability company (“REDI”);

 

WHEREAS, the Company owns
and operates an “electronic communications network” (“ECN”) as defined under
Rules 11Ac1-1 and 11Ac1-4 under the Securities Exchange Act of 1934, as amended
(including the rules and regulations thereunder, the “Exchange Act”), through
its interest in each of WAVE and REDI;

 

WHEREAS, each of WAVE and
REDI has filed Form ATS and all necessary documentation with the Securities and
Exchange Commission (the “Commission”) and with The National Association of
Securities Dealers, Inc. (the “NASD”) in order to designate each of WAVE and
REDI as an “alternative trading system” (as such term is defined in Rule 300 of
Regulation ATS under the Exchange Act);

 

WHEREAS, GDP, Inc.,
Virago Enterprises, L.L.C., GS Archipelago Investment, L.L.C., E*TRADE
Archipelago Holdings, L.L.C., Instinet International Limited, J.P. Morgan
Investment Corporation, Merrill Lynch L.P. Holdings Inc., NBC-ARCA Holding,
Inc., BNP Cooper Neff Group, Inc., Southwest Securities, Inc., Gamma ECN Investors,
G.P., Putnam, M. Townsend, S. Townsend and PCX entered into a Seventh Amended
and Restated Limited Liability Company Agreement of Archipelago Holdings,
L.L.C., dated as of July 12, 2000 (the “Original LLC Agreement”) and the
Company, PCX and PCX Equities have entered into a Contribution Agreement, dated
as of July 12, 2000, as

 

 

amended as of the date hereof (the “Contribution Agreement”), in
connection with the transactions contemplated herein and therein;

 

WHEREAS, GSP, LLC, Virago
Enterprises, L.L.C., GS Archipelago Investment, L.L.C., E*TRADE Archipelago
Holdings, L.L.C., Instinet International Limited, J.P. Morgan Capital, L.P.,
American Century Ventures II, L.L.C., Merrill Lynch L.P. Holdings Inc.,
NBC-ARCA Holding, Inc., CooperNeff Group, Inc., SWS Securities, Inc., Gamma ECN
Investors, G.P., PCX, Putnam, M. Townsend, S. Townsend, Fidelity Global
Brokerage Group, Inc., Charles Schwab & Co., Inc., Spear, Leeds &
Kellogg, L.P., TD Waterhouse Group, Inc., Fleet Securities, Inc., Credit Suisse
First Boston Next Fund, Inc., Lehman Brothers Inc., National Discount Brokers
Group, Inc., Banc of America Technology Investments, Inc. and JL Management,
LLC have entered into an Eighth Amended and Restated Limited Liability Company
Agreement of Archipelago Holdings, L.L.C., dated as of January 17, 2002 (the
“LLC Agreement”), which amended and restated the Original LLC Agreement,

 

WHEREAS, the Company, in
exchange for the Contribution (as defined in the Contribution Agreement),
issued to PCX interests in the Company (“Shares”) on the terms and subject to
the conditions then contained in the Original LLC Agreement and the
Contribution Agreement;

 

WHEREAS, the Company, PCX
and PCX Equities have entered into a Facility Services Agreement, dated as of
July 12, 2000 (the “Original Facility Services Agreement”), as amended and
restated as of the date hereof, in order to have the Company or a subsidiary of
the Company designated by the Company become a facility (as defined in Section
3(a)(2) of the Exchange Act) of PCX and PCX Equities and, consistent with the
terms of this Agreement, including, without limitation, Section 4.3, operate
the business of PCX and PCX Equities related to the trading of equity
securities or debt securities or any derivatives thereof (including, without
limitation, securities convertible into or exchangeable for equity securities
or debt securities or the value thereof), any securities with respect to which
the amount of principal, interest, dividends or other amounts are based on the
value of equity or debt securities or the value or level of an index of equity
or debt securities, or any securities issued by any Person for the purpose of
passing through to investors the total return on specified

 

2

 

equity or debt securities or equity or debt securities included in a
specified index or basket, in each case that are denominated in or that trade
in United States dollars and which are cleared or settled through the
Depository Trust and Clearing Corporation (“DTCC”), it being understood that
the foregoing shall exclude any derivative product with respect to which
quotations and last sales are reported on the Options Price Reporting Authority
(“OPRA”) and cleared or settled through clearing organizations other than DTCC
(“Equity Securities”), such business being referred to herein as the
“Archipelago Exchange Business,” and that in connection therewith the Company
has paid $40 million to PCX thereunder (the “Cash Payment”);

 

WHEREAS, pursuant to a letter
agreement entered into among the Company, PCX and PCX Equities, dated as of
January 16, 2002 (the “Waiver Letter”), each of PCX and PCX Equities consented
to waive certain provisions of the Original Facility Services Agreement, as
amended, modified or supplemented, under certain circumstances specified in the
Waiver Letter;

 

WHEREAS, the Company, PCX
and PCX Equities hereby agree to amend and restate the Original Facility
Services Agreement on the terms and conditions set forth in this Agreement;

 

WHEREAS, the Board of
Governors of PCX, the Board of Directors of PCX Equities and the Board of
Managers of the Company have approved this Agreement, the other
Transaction-Related Agreements (as defined in Section 2.2) and the transactions
contemplated hereby and thereby; and

 

WHEREAS, PCX, PCX
Equities and the Company desire to make certain representations, warranties,
covenants and agreements as provided in this Agreement in connection with the
establishment of the facility of PCX and PCX Equities contemplated herein (the
“Archipelago Exchange”).

 

NOW, THEREFORE, in
consideration of the foregoing and the representations, warranties, covenants,
agreements and conditions set forth herein, the parties hereto agree to amend
and restate the Original Facility Services Agreement in its entirety as
follows:

 

3

 

ARTICLE I.

 

COMMENCEMENT OF
OPERATIONS

 

1.1.          Commencement of Operations.  (a) 
The Archipelago Exchange will not commence operations until after the
Revised Market Rules (as defined in Section 4.1) have been approved by the
Commission as provided in Section 4.1. 
Until such Revised Market Rules have been so approved and the
Archipelago Exchange has commenced operations in accordance with this Article
I, the current business of PCX and PCX Equities related to the trading of
Equity Securities (the “PCX Equities Business”) shall continue to operate as
currently operated, subject to Section 4.6.

 

(b)           The Company and PCX will agree to an
implementation plan regarding the necessary steps, including technology systems
and regulatory surveillance, for the commencement of operations of the
Archipelago Exchange.  Each of the
Company, PCX and PCX Equities shall use its reasonable best efforts to prepare
for and effect the transition from the PCX Equities Business to the Archipelago
Exchange.  Following receipt of the
Commission’s approval of the Revised Market Rules (as referred to in Section
2.5), each of the Company and PCX will certify to the other its readiness to
commence operations of the Archipelago Exchange when so ready.

 

ARTICLE II.

 

REPRESENTATIONS
AND WARRANTIES OF PCX AND PCX EQUITIES

 

Except as set forth in
the corresponding sections or subsections of the disclosure letter, dated July
12, 2000, delivered to the Company by PCX and PCX Equities on or prior to
entering into the Original Facility Services Agreement (the “PCX Disclosure
Letter”), PCX and PCX Equities hereby jointly and severally represent and
warrant to the Company as follows:

 

2.1.          Corporate Organization and
Qualification.  Each of PCX, PCX
Equities and PCX Equities’ subsidiary is a corporation duly incorporated,
validly existing and in good standing under the laws of its jurisdiction of
incorporation, has all requisite power and authority to

 

4

 

carry on its business as presently conducted and is in good standing in
each jurisdiction where the properties owned, leased or operated, or the
business conducted, by it require such qualification, except for any failure to
be so organized, existing, in good standing or to have such power and authority
or to so qualify, that, when taken together with all such other failures, is
not reasonably likely, individually or in the aggregate, (a) to have a material
adverse effect (i) on the business, properties, operations or results of
operations, condition (financial or otherwise) or prospects of PCX and its
subsidiaries taken as a whole, (ii) on PCX Equities and its subsidiary taken as
a whole, on the PCX Equities Business, on the Archipelago Exchange Business or
with respect to each of the foregoing taken as a whole, on their respective
properties, operations or results of operations or condition (financial or
otherwise), (iii) on the Archipelago Exchange or (iv) on the authority of PCX
to continue as a national securities exchange and self-regulatory organization
(as registered under Section 6 and as defined in Section 3(a)(26),
respectively, of the Exchange Act) or (b) to prevent or to limit or restrict in
any material respect PCX or PCX Equities from performing their respective
obligations under this Agreement or any of the other Transaction-Related
Agreements or consummating any of the transactions contemplated hereunder and
thereunder (any such material adverse effect, prevention, limitation or
restriction, a “Material Adverse Effect”). 
The certificates of incorporation of PCX and PCX Equities, the
constitution and rules of PCX and the bylaws of PCX Equities, in the forms
attached to the Contribution Agreement as Exhibits 2.3(l)(i), 2.3(l)(ii),
2.3(m)(i) and 2.3(m)(ii), respectively, are in full force and effect.  Section 2.1 of the PCX Disclosure Letter
sets forth a true and complete list of each subsidiary of PCX and PCX Equities
and each Person in which PCX or PCX Equities owns, directly or indirectly, an
equity or other interest.  PCX Equities
is a wholly owned subsidiary of PCX.

 

For the purposes of this
Agreement, the term “Person” shall mean any individual, corporation (including
not-for-profit), general or limited partnership, limited liability company,
joint venture, estate, trust, association, organization, Governmental Authority
or other entity of any kind or nature organized or existing under the laws of
any jurisdiction.

 

5

 

2.2.          Authorization and Validity of
Agreements. Each of PCX and PCX Equities has the requisite power and
authority and has taken all corporate action necessary in order to authorize,
execute and deliver this Agreement, the LLC Agreement, the Contribution
Agreement, the Waiver Letter and the PCX EEP Participation Agreement (as
defined in the Contribution Agreement) (collectively, the “Transaction-Related
Agreements”) to which it is a party and to consummate the transactions
contemplated hereby and thereby and to perform the acts contemplated on its
part hereunder and thereunder.  No vote
or approval of the members of PCX is required in connection with the execution,
delivery and performance of this Agreement, the other Transaction-Related
Agreements and the transactions contemplated hereby and thereby, except for
such vote and approval contemplated by Section 4.8 with regard to a designee of
the Company serving as a member of PCX’s Board of Governors.  Each of this Agreement and each of the other
Transaction-Related Agreements to which PCX or PCX Equities is a party is a
valid and binding agreement of each of PCX and PCX Equities, enforceable
against PCX and PCX Equities in accordance with its terms.

 

2.3.          Equities Restructuring.  PCX has made and obtained all
authorizations, consents, approvals, orders, permits, notices, reports,
filings, registrations, qualifications, exemptions of, with or from, or other
actions required to be made by PCX or any of its subsidiaries, or obtained by
PCX or any of its subsidiaries from, any Governmental Authority or any third
party required to effect the restructuring of PCX’s equities trading business
as described and contemplated in the Securities and Exchange Commission Order,
issued on May 11, 2000 (set forth in Release No. 34-42759), including, without
limitation, the transfer of the equities trading business of PCX to PCX
Equities (the “Equities Restructuring”) and has taken all corporate action
required to effect the Equities Restructuring.

 

2.4.          No Conflicts.  (a) Neither the execution and delivery by PCX
and PCX Equities of this Agreement or any of the Transaction-Related Agreements
to which it is a party, the compliance by it with all of the provisions of and
the performance by it of its obligations under this Agreement and the
Transaction-Related Agreements to which it is a party nor the consummation of
the transactions herein or therein contemplated will conflict with or result in
a

 

6

 

breach or violation of, or result in any acceleration of any rights or
obligations or the payment of any penalty under or the creation of a lien,
pledge, security interest or other encumbrance on assets (with or without the
giving of notice or the lapse of time) pursuant to, or permit any other party
any improvement in rights with respect to or permit it to exercise, or
otherwise constitute a default under, any provision of any Contract or result
in any change in the rights or obligations of any party under any Contract to
which it is a party or by which it or any of its assets is bound, (b) nor will
such execution and delivery, compliance, performance or consummation (i) result
in any breach or violation of, or a default under, the provisions of the
Organizational Documents of PCX, PCX Equities or any of their respective
subsidiaries or any law, order, judgment, decree, ordinance, award,
governmental or non-governmental permit or license, rule or regulation
applicable to it, or (ii) to the best knowledge of PCX and PCX Equities, subject
the Company, the Subsidiaries, PCX, PCX Equities, any subsidiary of PCX or PCX
Equities or any of their respective affiliates to any claim of, or any
liability or obligation with respect to, any ETP Holder, any Equity ASAP Holder
or any Current PCX Related Person or Current PCXE Related Person (each as
defined in Section 2.6), or to any penalty or sanction, in the case of clauses
(a) and (b) above, except for such conflicts, breaches, violations, defaults,
payments, accelerations, creations or changes that, individually or in the
aggregate, are not reasonably likely to have a Material Adverse Effect. Subject
to the letter agreement, dated as of September 7, 2001 (the “Letter
Agreement”), between PCX and the Company, Section 2.4 of the PCX Disclosure Letter
sets forth a list of each consent required to be obtained prior to the
consummation of the transactions contemplated by this Agreement and the other
Transaction-Related Agreements pursuant to any material Contract of PCX, PCX
Equities or any of their respective subsidiaries, each of which has been
obtained prior to the date of the Original Facility Services Agreement other
than as specified in Section 2.4(b) of the PCX Disclosure Letter.  For purposes of this Agreement, “Contract”
means, with respect to any Person, any agreement, indenture, loan agreement,
undertaking, note or other debt instrument, contract, lease, mortgage, deed of
trust, permit, license, understanding, arrangement, commitment or other
obligation to which such Person or any of its subsidiaries is a party or by
which any of them may be bound or to which any of their properties may be
subject.

 

7

 

2.5.          Governmental Approvals and Consents.  Other than as specified in Section 2.5 of
the PCX Disclosure Letter and other than the filing with and approval by the
Commission of the Revised Market Rules under the Exchange Act (the “Regulatory
Approvals”), no authorizations, consents, approvals, orders, permits, notices,
reports, filings, registrations, qualifications and exemptions of, with or
from, or other actions are required to be made by PCX, PCX Equities or any of
their respective subsidiaries with, or obtained by PCX, PCX Equities or any of
their respective subsidiaries from, any governmental or regulatory authority,
agency, commission, body or other governmental or regulatory entity, domestic
or foreign, other than PCX or any of its subsidiaries (“Governmental
Authority”) in connection with the execution and delivery by PCX or PCX
Equities of this Agreement and each of the Transaction-Related Agreements to
which PCX or PCX Equities is a party, the performance by PCX or PCX Equities of
its obligations hereunder and thereunder, and the consummation of the
transactions contemplated hereby and thereby.

 

2.6.          Permit Holders.  (a) Each Person to whom PCX or PCX Equities
has issued an Equity Trading Permit (each, an “ETP Holder”) or an Equity ASAP
or an allied member thereof (each as defined in the rules of PCX Equities as of
the date of the Original Facility Services Agreement) (each, an “Equity ASAP
Holder”), (b) each member, member firm, member organization, allied member,
approved person, associated person (each as defined in the constitution and
rules of PCX as of the date of the Original Facility Services Agreement) or
specialist of PCX (the “Current PCX Related Persons”), and (c) each ETP Firm
(as defined in the rules of PCX Equities as of the date of the Original
Facility Services Agreement) (collectively, the “Current PCXE Related Persons”)
is in good standing and, to the knowledge of PCX and PCX Equities, in full
compliance with all permits or rules issued by PCX or PCX Equities, other than
for such failures to be in good standing or full compliance that, individually
or in the aggregate, are not reasonably likely to have a Material Adverse
Effect.

 

8

 

ARTICLE III.

 

REPRESENTATIONS AND
WARRANTIES

OF THE COMPANY

 

Except as set forth in
the corresponding sections or subsections of the disclosure letter, dated July
12, 2000, delivered to PCX by the Company on or prior to entering into the
Original Facility Services Agreement (the “Company Disclosure Letter”), the
Company hereby represents and warrants to PCX and PCX Equities as follows:

 

3.1.          Due Formation and Qualification.  The Company is a limited liability company,
duly formed, validly existing and in good standing under the laws of the State
of Delaware, has all requisite power and authority to carry on its business as
presently conducted and is in good standing in each jurisdiction where the
properties owned, leased or operated, or the business conducted, by it require
such qualification, except for any such failure to be so formed, existing, in
good standing or to have such power and authority or to so qualify, that, when
taken together with all other such failures, is not reasonably likely,
individually or in the aggregate, (a) to have a material adverse effect (i) on
the business, properties, operations or results of operations or condition (financial
or otherwise) of the Company and its subsidiaries taken as a whole, (ii) on PCX
Equities and its subsidiary taken as a whole, on the Archipelago Exchange
Business or with respect to each of the foregoing taken as a whole, on their
respective properties, operations or results of operations or condition
(financial or otherwise) or (iii) on the Archipelago Exchange or (b) to prevent
or to limit or restrict in any material respect the Company from performing its
obligations under this Agreement or any of the other Transaction-Related
Agreements or consummating any of the transactions contemplated hereunder or
thereunder (any such material adverse effect, prevention, limitation or
restriction, a “Company Material Adverse Effect”).

 

3.2.          Authorization and Validity of
Agreements.  The Company has the
requisite power and authority and has taken all action necessary in order to
authorize, execute and deliver this Agreement and the other Transaction-Related
Agreements to which it is a party, to consummate the transactions contemplated
hereby and thereby and to perform the acts contemplated on its part hereunder
and thereunder.

 

9

 

Each of this Agreement and each of the other Transaction-Related
Agreements to which the Company is a party is a valid and binding agreement of
the Company enforceable against the Company in accordance with its terms.

 

3.3.          No Conflicts.  (a) Neither the execution and delivery by
the Company of this Agreement or any of the Transaction-Related Agreements to
which it is a party, the compliance by the Company with all of the provisions
of and the performance by the Company of its obligations under this Agreement
and the Transaction-Related Agreements to which it is a party nor the
consummation of the transactions herein or therein contemplated will conflict
with or result in a breach or violation of, or result in any acceleration of
any rights or obligations or the payment of any penalty under or the creation
of a lien, pledge, security interest or other encumbrance on assets (with or
without the giving of notice or the lapse of time) pursuant to, or permit any
other party any improvement in rights with respect to or permit it to exercise,
or otherwise constitute a default under, any provision of any Contract or
result in any change in the rights or obligations of any party under any
Contract to which the Company is a party or by which the Company or any of its
assets is bound, (b) nor will such execution and delivery, compliance,
performance or consummation (i) result in any breach or violation of, or a
default under, the provisions of the limited liability company agreement of the
Company or any law, order, judgment, decree, ordinance, award, governmental or
non-governmental permit or license, rule or regulation applicable to the
Company, or (ii) to the best knowledge of the Company, subject PCX, PCX
Equities or any subsidiary of PCX or PCX Equities, the Company or any of the
Subsidiaries to any penalty or sanction, in the case of clauses (a) and (b)
above, except as specified in Section 3.3 of the Company’s disclosure letter
(the “Exchange Agreement Disclosure Letter”) to the Exchange Agreement, dated
as of January 17, 2002, among the Company, REDI, PCX and the other parties
thereto (the “Exchange Agreement”) delivered by the Company to REDI pursuant to
Article III of the Exchange Agreement and except for such conflicts, breaches,
violations, defaults, payments, accelerations, creations or changes that,
individually or in the aggregate, are not reasonably likely to have a Company
Material Adverse Effect.

 

3.4.          Governmental Approvals and Consents.  Other than as specified in Section 3.4 of
the Company Disclosure

 

10

 

Letter, in Sections 3.4 or 4.3 of the Exchange Agreement Disclosure
Letter or in Sections 3.4 or 4.3 of the REDI Disclosure Letter (as defined in
the Exchange Agreement) and other than the Regulatory Approvals, no
authorizations, consents, approvals, orders, permits, notices, reports, filings,
registrations, qualifications and exemptions of, with or from or other actions
are required to be made by the Company or any of the Subsidiaries with, or
obtained by the Company or any of the Subsidiaries from, any Governmental
Authority or Self-Regulatory Organization (other than PCX or any of its
subsidiaries) in connection with the execution and delivery by the Company of
this Agreement and each of the Transaction-Related Agreements to which it is a
party, the performance by the Company of its obligations hereunder and
thereunder, and the consummation of the transactions contemplated hereby and
thereby.  For purposes of this
Agreement, “Self-Regulatory Organization” shall mean the NASD, the New York
Stock Exchange, Inc., the American Stock Exchange, the Municipal Securities
Rulemaking Board, the Chicago Stock Exchange, The Chicago Mercantile Exchange,
the Chicago Board of Trade, the Cincinnati Stock Exchange, the Minneapolis
Grain Exchange and the New York Futures Exchange, the National Securities Clearing
Corporation, the Depository Trust Corporation, or other commission, board,
agency or body that is not a Governmental Authority but is charged with the
supervision or regulation of brokers, dealers, securities underwriting or
trading, stock exchanges, commodities exchanges, ECNs, insurance companies or
agents, investment companies or investment advisers.

 

ARTICLE IV.

 

COVENANTS

 

4.1.          Filings; Other Action.  (a) The Company, PCX and PCX Equities
covenant and agree to cooperate with each other and use their respective best
efforts to submit to the Commission revised market rules of PCX Equities
relating to the Archipelago Exchange Business and the Company or a subsidiary
of the Company serving as a facility thereof in a form consistent with the
market structure described in Annex A to the Original Facility Services
Agreement (the “Market Structure”) and otherwise in a form mutually agreed by
the parties hereto (the “Revised Market Rules”).  Each of PCX, PCX Equities and the Company shall promptly take, or
cause to be taken, all action and do, or cause to be done,

 

11

 

all things necessary, proper or advisable and otherwise use its best
efforts to obtain the Commission’s approval of the Revised Market Rules, to
cause such Revised Market Rules to take effect (the Revised Market Rules, in
the form approved by the Commission together with any amendments made following
their initial submission to the Commission, are referred to herein as the
“Final Market Rules”) and to make and obtain any other authorizations,
consents, approvals, orders, permits, notices, reports, filings, registrations,
qualifications, exemptions of, with or from, or other actions required to be
made by PCX, PCX Equities, the Company or any of their respective subsidiaries,
or obtained by PCX, PCX Equities, the Company or any of their respective
subsidiaries from, any Governmental Authority or any third party in order to
lawfully consummate the transactions contemplated by this Agreement, the Original
Facility Services Agreement, the Original LLC Agreement and the
Transaction-Related Agreements and to permit the Company or one of its
subsidiaries to operate the Archipelago Exchange (the “Other Necessary
Approvals and Consents”).  PCX may
submit to the Commission for its approval proposed changes to the Revised
Market Rules submitted to the Commission for approval.  PCX must promptly submit for the approval of
its Board of Governors in accordance with its customary practices, or sooner if
necessary, any proposed changes proffered by the Company to the Revised Market
Rules submitted to the Commission for approval, which such Board of Governors
shall consider in good faith.  Following
receipt of such approval, PCX and PCX Equities shall submit such changes to the
Commission for approval as promptly as practicable.  PCX and the Company each shall, upon request by the other,
furnish the other with all true and accurate information concerning itself, its
subsidiaries, governors, managers, directors, officers, members and
stockholders and such other matters as may be required in connection with any
statement, filing, notice or application made by or on behalf of PCX, PCX
Equities, the Company or any of their respective subsidiaries in connection
with obtaining the approval of the Revised Market Rules by the Commission
described in the second sentence of this Section 4.1(a) and all Other Necessary
Approvals and Consents, provided that neither PCX nor the Company shall be
required to furnish any information to the other in violation of any applicable
federal, state, local or foreign laws, statutes, ordinances, rules,
regulations, judgments, orders, injunctions, decrees, arbitration awards,
agency requirements, writs, franchises, variances, exemptions, approvals, licenses
or permits of any

 

12

 

Governmental Authority or Self-Regulatory Organization (each, a “Law”
and collectively, “Laws”).  The Company
shall have the right to review in advance, and PCX will consult the Company on,
all the information relating to the Company and any of its subsidiaries or
affiliates that appear in any filing made with, or written materials submitted
to, the Commission or any other Governmental Authority in connection therewith.  The Company shall have the right to review
and comment upon in advance any material written statement, filing, notice,
application or other submission made by or on behalf of PCX, PCX Equities or
any of their respective subsidiaries in connection with obtaining the approval
of the Revised Market Rules by the Commission or obtaining the Other Necessary
Approvals and Consents.  In exercising
the foregoing rights, each of PCX, PCX Equities and the Company shall act
reasonably, in good faith and as promptly as practicable.

 

(b)           PCX shall regularly and promptly keep
the Company apprised of all matters related to the Revised Market Rules,
including, without limitation, obtaining the approval of the Revised Market
Rules by the Commission and the Other Necessary Approvals and Consents,
including, without limitation, promptly furnishing the Company with copies of
notices or other communications and promptly informing the Company of all
material oral communications received by PCX, PCX Equities or any of their
respective subsidiaries, as the case may be, from any Governmental Authority
with respect thereto.

 

(c)           PCX shall have the right to review in
advance, and the Company will consult PCX on, all the information relating to
PCX or any of its subsidiaries or affiliates that appear in any filing made
with, or written materials submitted to, the Commission or any other
Governmental Authority in connection with obtaining the approval of the Revised
Market Rules by the Commission described in the second sentence of Section 4.1(a)
or any of the Other Necessary Approvals and Consents.  PCX shall have the right to review and comment upon in advance
any material written statement, filing, notice, application or other submission
made by or on behalf of the Company or any of its subsidiaries in connection
therewith.  No such material written
statement, filing, notice, application or submission shall be made without the
mutual agreement of the Company, PCX and PCX Equities, except in cases where the
Company is commenting in connection with any statement, filing, notice,

 

13

 

application or other submission made by or on behalf of PCX, PCX
Equities or any of their respective subsidiaries without the Company’s mutual
agreement.

 

(d)           The Company shall regularly and
promptly keep PCX apprised of all matters related to the Revised Market Rules,
including, without limitation, obtaining the approval of the Revised Market
Rules by the Commission and the Other Necessary Approvals and Consents, including,
without limitation, promptly furnishing PCX with copies of notices or other
communications received by the Company or any of its subsidiaries, as the case
may be, from any Governmental Authority with respect thereto.

 

(e)           Each of PCX and PCX Equities, on the
one hand, and the Company, on the other hand, agrees to use its best efforts to
effect any necessary amendments, modifications, repeal, or additions to the
Revised Market Rules and the Final Market Rules or any other rules applicable
to the Archipelago Exchange requested or directed by the Commission or in
response to comments issued by the Commission.

 

(f)            Each of PCX and PCX Equities
covenants and agrees that for so long as this Agreement is in effect it will,
and it will cause its subsidiaries to, timely make all filings with the
Commission and any other Governmental Authority required to maintain PCX’s
status as a national securities exchange and as a self-regulatory organization
(as registered under Section 6 and as defined in Section 3(a)(26), respectively,
of the Exchange Act) and to keep PCX, PCX Equities, PCX Equities’ subsidiary
and the Archipelago Exchange in compliance in all material respects with all
federal securities laws, statutes, ordinances, rules and regulations and all
rules and regulations of the Commission or of PCX or PCX Equities (“Federal
Securities Laws”) applicable to PCX Equities, PCX Equities’ subsidiary, the PCX
Equities Business, the Archipelago Exchange Business or the Archipelago
Exchange, in the case of the Archipelago Exchange, except to the extent that
any such failure to be in compliance results from an action or omission of the
Company (it being understood, however, that if PCX or PCX Equities learns of
any such action or omission that is giving rise to such noncompliance, it shall
promptly notify the Company).  Each of
PCX and PCX Equities shall regularly and promptly keep the Company apprised of
all matters known to PCX or PCX Equities and material to maintaining PCX’s

 

14

 

status as a national securities exchange and as a self-regulatory
organization, keeping PCX, PCX Equities, PCX Equities’ subsidiary and the
Archipelago Exchange in compliance with all Laws applicable to the PCX Equities
Business, the Archipelago Exchange Business or the Archipelago Exchange or
material to PCX Equities or the Archipelago Exchange, including, without
limitation, promptly furnishing the Company with copies of notices or other
communications and promptly informing the Company of all material oral
communications received by PCX, PCX Equities or any of their respective
subsidiaries, as the case may be, from any Governmental Authority with respect
thereto, and shall as promptly as practicable provide or cause to be provided
to the Company any documents or other information that the Company may from
time to time request in connection therewith. 
The Company shall have the right to review and comment upon in advance
all statements, filings, notices, applications and other submissions (whether in
written, electronic, audio, oral or other form or medium) made by or on behalf
of PCX, PCX Equities or any of their respective subsidiaries that are material
to maintaining PCX’s status as a national securities exchange and as a
self-regulatory organization, keeping PCX and PCX Equities in compliance with
all Federal Securities Laws applicable to them and keeping the Archipelago
Exchange Business (to the extent regulated by PCX and PCX Equities), the PCX
Equities Business and the Archipelago Exchange in compliance with all Laws
applicable to them, and PCX and the Company will consult and cooperate with
each other, and consider in good faith the views of one another with regard to
any analyses, presentations, arguments, opinions and proposals made or submitted
by or on behalf of PCX or PCX Equities in connection therewith.  Each of PCX and PCX Equities shall promptly
notify the Company about all investigations, examinations or alleged violations
of any Laws applicable to PCX, PCX Equities, any of their respective
subsidiaries or the Archipelago Exchange (including, without limitation, with
respect to the Final Market Rules) that, individually or in the aggregate, have
had or could reasonably be expected to have a Material Adverse Effect.
Notwithstanding anything to the contrary in this Section 4.1(f), in connection
with any disciplinary or enforcement investigation, examination or other action
brought by PCX or PCX Equities against any particular ETP Holder, Equity ASAP
Holder, member or specialist, PCX and PCX Equities shall only be required to
provide or make available to the General Counsel of the Company (i) such

 

15

 

copies of the Weekly Bulletins, Quarterly Regulatory Information
Bulletins and other similar bulletins as contain information about such
disciplinary or enforcement investigations, examinations or other actions and,
(ii) with respect to any matter that has had or is reasonably likely to have a
Material Adverse Effect, a written summary describing all material aspects of
such matter, on a no-names basis.  The
General Counsel of the Company shall enter into a confidentiality agreement
with PCX or PCX Equities, as the case may be, with regard to the non-disclosure
of information provided to him or her pursuant to the immediately preceding
sentence.

 

(g)           The Company covenants and agrees that
for so long as this Agreement is in effect it will, and it will cause the
Subsidiaries to, keep the Archipelago Exchange in compliance in all material
respects with all Federal Securities Laws applicable to it except to the extent
that any such failure to be in compliance results from an action or omission of
PCX or PCX Equities (it being understood, however, that if the Company learns
of any such action or omission that is giving rise to such noncompliance, it
shall promptly notify PCX and PCX Equities). 
In furtherance of the foregoing, the books, records, premises, officers,
directors, agents and employees of AELLC (as defined in Section 4.4(c)) and, to
the extent that those business activities of WAVE are deemed a facility of PCX
Equities, of WAVE, shall be deemed to be the books, records, premises,
officers, directors, agents and employees of PCX and PCX Equities for purposes
of and subject to oversight pursuant to the Exchange Act, and all officers and
directors of the Company shall be deemed to be officers and directors of PCX
and PCX Equities for purposes of and subject to oversight pursuant to the
Exchange Act.  The books and records of
AELLC and, to the extent that those business activities of WAVE are deemed a
facility of PCX Equities, of WAVE, shall be subject at all times to inspection
and copying by PCX, PCX Equities and the Commission.  The two immediately preceding sentences shall not be deemed to
create any rights or benefits for any Person other than the Commission.  The Company shall promptly furnish PCX with
copies of notices or other communications and promptly inform PCX of all
material oral communications received by the Company or any of its subsidiaries,
as the case may be, from any Governmental Authority with respect to matters
material to keeping the Archipelago Exchange in compliance with all Laws
applicable to it or material to the Archipelago Exchange.  PCX shall

 

16

 

have the right to review and comment upon in advance all statements,
filings, notices, applications and other submissions (whether in written,
electronic, audio, oral or other form or medium) made by or on behalf of the
Company or any of its subsidiaries that are material to keeping the Archipelago
Exchange in compliance with all Federal Securities Laws applicable to it, and
the Company and PCX will consult and cooperate with each other, and consider in
good faith the views of one another with regard to any analyses, presentations,
arguments, opinions and proposals made by or on behalf of the Company in
connection therewith.  The Company shall
promptly notify PCX about all investigations, examinations or alleged
violations of any Laws applicable to the Archipelago Exchange (including,
without limitation, with respect to the Final Market Rules) known to the
Company that, individually or in the aggregate, have had or could reasonably be
expected to have a Company Material Adverse Effect.

 

(h)           PCX may submit or propose to the
Commission any amendment, modification, repeal or addition to the Final Market
Rules or any other rules applicable to the Archipelago Exchange.  The Company shall have the right to review
and promptly comment upon in advance any material written statement, filing,
notice, application or other submission made by or on behalf of PCX or PCX
Equities in connection with obtaining the approval of any such amendment,
modification, repeal, addition or other rule by the Commission.  PCX shall keep the Company apprised
regularly and promptly of all matters related to obtaining the approval of any
such amendment, modification, repeal, addition or other rule by the Commission,
including, without limitation, promptly furnishing the Company with copies of
notices or other communications and promptly informing the Company of all
material oral communications received by PCX, PCX Equities or any of their
respective subsidiaries, as the case may be, from any Governmental Authority
with respect thereto.

 

(i)            PCX shall have the right to review
and comment upon in advance any material written statement or other submission
made by or on behalf of the Company to the Commission in connection with any
amendment, modification, repeal or addition to the Final Market Rules or any
other rules applicable to the Archipelago Exchange submitted or proposed by
PCX, PCX Equities or any of their respective subsidiaries in accordance with
Section 4.1(h).  The Company

 

17

 

shall promptly furnish PCX with copies of notices or other
communications and promptly inform PCX of all material oral communications
received by the Company or any of its subsidiaries, as the case may be, from
any Governmental Authority with respect to any such amendment, modification,
repeal, addition or other rule.

 

(j)            PCX must promptly submit for the
approval of its Board of Governors in accordance with its customary practices,
or sooner if necessary, any amendment, modification, repeal or addition to the
Final Market Rules or any other rules applicable to the Archipelago Exchange
proffered by the Company in the form submitted by the Company, which such Board
of Governors shall consider in good faith. 
Following receipt of such approval, PCX and PCX Equities shall submit
such amendment, modification, repeal, addition or other rule to the Commission
for approval as promptly as practicable. 
The obligations of PCX and PCX Equities described in the immediately
preceding sentence shall include, without limitation, making all filings,
notifications, applications and other submissions required to obtain such
approval of the Commission and to otherwise effect such amendment,
modification, repeal, addition or other rule as promptly as possible.  The Company shall have the right to review
and comment upon in advance any such written filings, notifications,
applications and other submissions described in the immediately preceding
sentence.  Each of PCX and PCX Equities
shall keep the Company apprised regularly and promptly of all matters relating
to obtaining the Commission’s approval described in the second sentence of this
Section 4.1(j), including, without limitation, promptly furnishing the Company
with copies of notices or other communications and promptly informing the
Company of all material oral communications received by PCX, PCX Equities or
any of their respective subsidiaries, as the case may be, from any Governmental
Authority with respect thereto.

 

(k)           The Company shall promptly furnish
PCX with copies of notices or other communications and promptly inform PCX of
all material oral communications received by the Company or any of its
subsidiaries, as the case may be, from any Governmental Authority with respect
to any amendment, modification, repeal or addition to the Final Market Rules or
any other rules applicable to the Archipelago Exchange proffered by the Company
pursuant to Section 4.1(j).

 

18

 

(l)            At the request of the Company, PCX
and PCX Equities shall use their best efforts to arrange for representatives of
the Company to communicate directly with the Commission (orally or in writing),
together with representatives of PCX and PCX Equities, in connection with the
Revised Market Rules or the Final Market Rules; any proposed amendment,
modification, repeal or addition to the Revised Market Rules, the Final Market
Rules or any other rules applicable to the Archipelago Exchange; or any other
matter or concern relating to the Archipelago Exchange.  To the extent practicable and reasonable
under the circumstances, PCX shall (i) inform the Company about all material
conferences and other meetings (whether in person or telephonic) with the
Commission or any other Governmental Authority in connection with (A) the
Revised Market Rules, the Final Market Rules or any other rules applicable to
the Archipelago Exchange, (B) any of the Other Necessary Approvals and
Consents, or (C) any matter material to (x) maintaining PCX’s status as a
national securities exchange and as a self-regulatory organization or (y)
keeping PCX, PCX Equities, PCX Equities’ subsidiary and the Archipelago
Exchange in material compliance with all Laws applicable to PCX Equities, PCX
Equities’ subsidiary, the PCX Equities Business, the Archipelago Exchange
Business or the Archipelago Exchange or material to PCX Equities, PCX Equities’
subsidiary or the Archipelago Exchange, in the case of clauses (A) through (C),
as promptly as practicable in advance of such conferences or meetings, and (ii)
provide the Company the opportunity to participate (telephonically or
otherwise) in such conferences or meetings relating to the matters described in
clauses (A), (B) or (C) above (except in the case of subclause (C)(x) above,
only to the extent relating to the PCX Equities Business or the Archipelago
Exchange Business).

 

(m)          Each of PCX and PCX Equities covenants
and agrees that for so long as this Agreement is in effect it shall regularly
and promptly keep the Company apprised of all matters material to PCX’s, PCX
Equities’ and its subsidiary’s membership or participation in the CTA Plan, the
CQS Plan, the Nasdaq UTP Plan, the ITS Plan and any other national market plan
related to the Archipelago Exchange from time to time to the extent that they relate
to any Equity Securities (collectively, the “NMS Plans”), including, without
limitation, promptly furnishing the Company with copies of notices or other
communications and promptly informing the Company of all material oral

 

19

 

communications received by PCX, PCX Equities or any of their respective
subsidiaries, as the case may be, in connection therewith.  Each of the parties hereto shall use its
best efforts and negotiate in good faith with the other parties hereto to
designate as the representative of PCX, PCX Equities or PCX Equities’
subsidiary to, or to participate in, any body, committee or board related to
any NMS Plan a representative (the “NMS Representative”) who is mutually agreed
upon by the parties hereto (which may include, without limitation, a joint
employee of the Company or one of its subsidiaries, on the one hand, and PCX
and PCX Equities, on the other hand; provided that the parties mutually
agree in good faith to the terms of such joint employment).  Each of PCX and PCX Equities shall use its
best efforts to cause a person designated by the Company to participate as an
observer in any body, committee or board related to any NMS Plan, including,
without limitation, by furnishing any such observer with copies of all notices
and other documents related to any conferences or other meetings of any NMS
Plan as promptly as practicable in advance of such conferences or meetings and
by providing such observer the opportunity to participate in such conferences
or meetings (telephonically or otherwise). 
With respect to the NMS Plans, the Company shall have the right to
review and comment upon in advance all material statements, filings, notices,
applications and other submissions (whether in written, electronic, audio, oral
or other form or medium) made by or on behalf of PCX, PCX Equities or any of
their respective subsidiaries that are material to PCX’s, PCX Equities’ or PCX
Equities’ subsidiary’s membership or participation in any NMS Plan.  With respect to the NMS Plans, at the
Company’s request, PCX shall cause any written submission proffered by or on
behalf of the Company to be submitted to participants of any NMS Plan and each
of PCX and PCX Equities shall otherwise use its best efforts to arrange for the
Company to communicate directly with participants of any NMS Plan (orally or in
writing) in connection with any matter relating to any NMS Plan.  PCX and the Company will consult and
cooperate with one another and consider in good faith the views of one another
in connection with any analyses, presentations, arguments, opinions and
proposals made or submitted by or on behalf of PCX, PCX Equities, PCX Equities’
subsidiary or the Company in connection with any NMS Plan or in connection with
any other matter material to PCX’s, PCX Equities’ or such subsidiary’s
membership or participation or the NMS Representative’s participation in any
NMS Plan.

 

20

 

(n)           The Company covenants and agrees that
for so long as this Agreement is in effect it shall regularly and promptly keep
PCX apprised of all matters material to the NMS Representative’s participation
in any NMS Plan, including, without limitation, promptly furnishing PCX with
copies of notices or other communications and promptly informing PCX of all
material oral communications received by the NMS Representative in connection
therewith.  With respect to the NMS
Plans, PCX shall have the right to review and comment upon in advance all
material statements, filings, notices, applications and other submissions
(whether in written, electronic, audio, oral or other medium) made by or on
behalf of the Company or any of its subsidiaries that are material to the NMS
Representative’s participation in any NMS Plan.

 

(o)           Each of PCX and PCX Equities, on the
one hand, and the Company, on the other hand, agrees to cooperate with each
other in connection with all audits and formal and informal directions,
requests or inquiries by the Commission or any other Governmental Authority
that are reasonably related to the Archipelago Exchange or the Archipelago
Exchange Business.

 

(p)           The Company shall be entitled to
proffer to PCX any fee schedules required to be filed with the Commission with
regard to the Archipelago Exchange.  Any
fee schedules required to be filed with the Commission with regard to the
Archipelago Exchange and proffered by the Company must be promptly submitted by
PCX, in the form submitted by the Company, for the approval of the PCX Board of
Governors in accordance with its customary practices, or sooner if necessary,
which fee schedules such Board of Governors shall consider in good faith.  Following receipt of such approval, PCX and
PCX Equities shall submit such fee schedules to the Commission for approval as
promptly as practicable.

 

(q)           Each of the parties hereto shall
exercise due regard for Section 4.15 in taking any actions or performing any of
its obligations under this Section 4.1.

 

4.2.               Press Releases; Advertising.  The initial press release relating to the
execution of this Agreement and the other Transaction-Related Agreements shall
be a joint press release.  Each of the
Company, on the one hand, and PCX and PCX Equities, on the other hand, agrees
to

 

21

 

provide the other copies of advertisements (whether in written,
electronic, audio, oral or other form or medium) with respect to the
Archipelago Exchange in advance of initial publication of such
advertisements.  If PCX reasonably
determines that any portion of an advertisement by the Company relating to the
Archipelago Exchange would violate any applicable law or any of the Final
Market Rules or any other rules of PCX or PCX Equities adopted and administered
as part of the PCX Regulatory Functions (as defined in Section 4.7) and
provides advance notice of same to the Company prior to initial publication
thereof, such portion of the advertisement shall not be published until
mutually agreed upon by PCX and the Company. 
Each of PCX, PCX Equities and the Company agrees to cooperate with and
consult each other in good faith to promptly reach the mutual agreement
described in the immediately preceding sentence.

 

4.3.          Exclusivity; Agreement Not to
Compete.

 

(a)           Until (x) this Agreement is
terminated pursuant to Sections 5.1(a) or 5.1(b) or (y) Sections 4.3(a) through
4.3(f) and Section 4.3(i) are terminated pursuant to Section 5.1(d), and
subject to Section 4.3(d), except as the Company may expressly agree by prior
written consent, each of PCX and PCX Equities covenants and agrees that (i) the
Archipelago Exchange operated by the Company or one of its subsidiaries shall
be the exclusive facility or Person with respect to which (I) instruments
traded on or eligible to be traded on the equities floors of PCX and (II) such
similar instruments that are eligible to be traded on the equities floors of
PCX under the Listed UTP Plan or the Nasdaq UTP Plan, in the case of clauses
(I) and (II), as of the date of the Original Facility Services Agreement, other
than, in the case of clauses (I) and (II), futures, derivatives and index
products (“Covered Equity Securities”) shall be permitted to trade on, through,
on behalf of, or in association with PCX, PCX Equities or any of their
respective affiliates, and (ii) (A) PCX and PCX Equities shall terminate, and
shall cause each subsidiary of PCX or PCX Equities, their respective affiliates
and any third party (other than the Company and its subsidiaries) to terminate
all trading of Covered Equity Securities (whether such trading occurs on,
through, on behalf of, or in association with PCX, PCX Equities or any of their
respective affiliates or any facility of the foregoing) and (B) none of PCX,
PCX Equities, their respective subsidiaries and their respective

 

22

 

affiliates shall in any way direct trading of any Covered Equity
Securities to, through or in association with a facility or any other Person
other than the Company and its subsidiaries, or in any way promote, encourage,
direct or recommend trading of any Equity Securities by any ETP Holder, Equity
ASAP Holder or any Current PCX Related Person or Current PCXE Related Person
through or in association with any facility or any other Person, other than the
Company and its subsidiaries. 
Notwithstanding the foregoing, (x) until the Archipelago Exchange
commences operations in accordance with Article I, PCX and PCX Equities may
continue to conduct the PCX Equities Business in the manner such business was
being conducted as of the date of the Original Facility Services Agreement in
the ordinary course consistent with past practice and subject to any rules of
PCX or PCX Equities proposed or adopted by PCX or PCX Equities as of the date
of the Original Facility Services Agreement related to the PCX Equities
Business and (y) OptiMark Services, Inc. may continue as an equities trading
facility in accordance with the PSE-OptiMark Agreement, dated as of August 27,
1996, between PCX and OptiMark Holdings, Inc. (“OptiMark”), successor in
interest to OptiMark Technologies, Inc., provided that all such equities
trading through such facility is effected through the Archipelago Exchange
after the Archipelago Exchange commences operations (the “OptiMark
Activities”).  Nothing in this Section 4.3(a)
shall limit, prevent or otherwise restrict any trading of Covered Equity
Securities that is (i) related to ordinary course activities conducted by
members and participants in PCX’s options trading business or other businesses
developed or engaged in by PCX that do not constitute the trading of Covered
Equity Securities; provided that PCX does not promote, direct or recommend that
such trading be conducted other than through the Archipelago Exchange (other
than by providing logistic and administrative support of such trading in
response to such members’ and participants’ unsolicited requests) or (ii)
executed other than on the Archipelago Exchange as a result of the operation of
market rules of PCX Equities relating to the Archipelago Exchange Business
adopted in accordance with the Market Structure or as otherwise required by the
Commission.

 

(b)           Until (x) this Agreement is
terminated pursuant to Sections 5.1(a) or 5.1(b) or (y) Sections 4.3(a) through
4.3(f) and Section 4.3(i) are terminated pursuant to Section 5.1(d), and
subject to Section 4.3(d), except as PCX

 

23

 

may expressly agree by prior written consent, the Company covenants and
agrees that it will, and it will cause its subsidiaries to, direct to the
Archipelago Exchange all Covered Equity Securities order flow that the Company
or any of its subsidiaries receives with regard to Covered Equity
Securities.  Notwithstanding the
foregoing, until the Archipelago Exchange commences operations in accordance
with Article I, each of the Company and its subsidiaries may continue to
conduct its business related to the trading of Equity Securities in the manner
such business was being conducted as of the date of the Original Facility
Services Agreement.

 

(c)           The Company may at any time trade on
or through the Archipelago Exchange any instrument or product that meets the
listing criteria of PCX or may be traded on or through the Archipelago Exchange
under the Listed UTP Plan or the Nasdaq UTP Plan (hereinafter referred to as
“Eligible”).  Until (x) this Agreement
is terminated pursuant to Sections 5.1(a) or 5.1(b) or (y) Sections 4.3(a)
through 4.3(f) and Section 4.3(i) are terminated pursuant to Section 5.1(d),
and subject to Section 4.3(d), in the event PCX, PCX Equities or any of their
respective subsidiaries has developed or develops at any time after the date of
the Original Facility Services Agreement any Equity Security that is not
Eligible or any other instrument or product that it proposes to trade on or
through the Archipelago Exchange, each of PCX and PCX Equities shall provide
the Company with a right of first refusal to trade such Equity Security,
instrument or product on or through the Archipelago Exchange for a fee to be
paid to PCX or PCX Equities.  If the
Company declines such offer to trade such Equity Security, product or
instrument, PCX shall be free to list or trade such Equity Security, product or
instrument itself or in association with another Person.  Until (x) this Agreement is terminated
pursuant to Sections 5.1(a) or 5.1(b) or (y) Sections 4.3(a) through 4.3(f) and
Section 4.3(i) are terminated pursuant to Section 5.1(d), and subject to
Section 4.3(d), in the event that the Company or one of its subsidiaries has
developed or develops at any time after the date of the Original Facility
Services Agreement any instrument or product that is not Eligible, but which
the Company proposes to trade on or through the Archipelago Exchange, the
Company shall provide PCX and PCX Equities with a right of first refusal to
list such instrument or product for trading on the Archipelago Exchange.  If PCX or PCX Equities declines such offer
to list such instrument or

 

24

 

product or where PCX or PCX Equities informs the Company that the
listing of such product or instrument would require the incurrence of
additional costs for it to provide self-regulatory organization services and
the Company advises PCX that it declines or does not intend to reimburse PCX or
PCX Equities for such additional costs, the Company shall be free to list or
trade such product or instrument itself other than through the Archipelago
Exchange and/or in association with another Person.  Any Equity Securities, products or instruments (other than
futures, derivatives and index products) that are listed on or traded on or
through the Archipelago Exchange pursuant to this Section 4.3(c) shall be
deemed to be Covered Equity Securities.

 

(d)           Each of PCX and PCX Equities, on the
one hand, and the Company, on the other hand, shall cooperate with and consult
the other in connection with any proposed venture or transaction outside of the
United States that involves or may involve the trading of material volumes of
Covered Equity Securities, and the Company shall use reasonable commercial
efforts to trade such Covered Equity Securities through the Archipelago
Exchange.  In addition, each of PCX and
PCX Equities shall provide prior notice to, cooperate with and consult the
Company in connection with any proposed venture or transaction pursuant to
which PCX would become a self-regulatory organization of or provide
self-regulatory services to any equity securities exchange outside of the
United States.  Neither the foregoing
nor any other provision of this Section 4.3 shall restrict (i) the Company or
any of its subsidiaries from entering into a venture or transaction outside of
the United States or (ii) PCX from entering into a venture or transaction
pursuant to which PCX would become a self-regulatory organization of or provide
self-regulatory services to any equity securities exchange outside of the
United States or PCX would engage in activities outside of the United States
that are not Competing Activities.

 

(e)           Until (x) this Agreement is
terminated pursuant to Sections 5.1(a) or 5.1(b) or (y) Sections 4.3(a) through
4.3(f) and Section 4.3(i) are terminated pursuant to Section 5.1(d), except as
the Company may expressly agree by prior written consent, each of PCX and PCX
Equities covenants and agrees that neither PCX nor PCX Equities will, and that
each will cause its subsidiaries and affiliates (or any successor thereof) not
to, directly or indirectly, at any time: 
(i) engage in any business or other activity that

 

25

 

competes with the Archipelago Exchange with respect to Covered Equity
Securities (“Competing Activities”), provided, however, that the listing,
trading or serving as a self-regulatory organization solely with respect to
products or instruments that are not Covered Equity Securities, without
limitation, shall not constitute Competing Activities; (ii) invest in, acquire,
hold or develop any interest in any Person that engages in any Competing
Activities, provided that this clause (ii) shall not be deemed breached as a
result of, and shall not restrict PCX and its subsidiaries from (A) acquiring,
in the aggregate, 1% or less of the securities of a Person that engages in any
Competing Activities, (B) holding, in the aggregate, a non-controlling interest
of a Person that engages in any Competing Activities, (C) investing, acquiring,
holding or developing an interest in a Person in respect of which Competing
Activities represent a de minimis portion of such Person’s business, or (D)
holding or exercising the warrants for shares of OptiMark that are held by PCX
at or after the Closing (as defined in the Contribution Agreement) or holding
such shares upon exercise of such warrants; (iii) promote, encourage, direct or
recommend any ETP Holders, Equity ASAP Holders or, if applicable, any Current
PCX Related Persons or Current PCXE Related Persons to trade through any other
exchange, facility or trading system, to reduce their trading activities in the
Archipelago Exchange, or not to use the Archipelago Exchange altogether or
otherwise promote, direct or recommend the same; (iv) provide, or enter into
any contract, agreement or arrangement to provide, any self-regulatory
organization functions to any Person other than the Archipelago Exchange in
respect of any Covered Equity Securities; or (v) induce or attempt to induce
any supplier, vendor or contractor of the Company or any of its affiliates to
cease to supply, or to restrict or vary the terms of supply or to discontinue
business with the Company or any such affiliate.

 

(f)            Until (x) this Agreement is
terminated pursuant to Section 5.1(a) or 5.1(b) or (y) Sections 4.3(a) through
4.3(f) and Section 4.3(i) are terminated pursuant to Section 5.1(d), except as
PCX may expressly agree by prior written consent, the Company covenants and
agrees that it will not, and that it will cause the Subsidiaries (or any
successor thereof) not to directly (i) engage in any business as or operate as
a United States national securities exchange; (ii) engage in any business as or
operate as a United States self-regulatory organization; or

 

26

 

(iii) enter into any contract, agreement or arrangement with a United
States self-regulatory organization other than PCX or PCX Equities to perform
any of the PCX Regulatory Functions, in each case in respect of Covered Equity
Securities.

 

(g)           Each of PCX and PCX Equities
covenants and agrees that neither PCX nor PCX Equities will, and that each will
cause their respective subsidiaries and respective affiliates (or any successor
thereof) not to, directly or indirectly, (i) employ or seek to employ any
person employed at such time by the Company or any of its affiliates and then
working on-site at PCX’s offices, or (ii) otherwise encourage or entice such
person to leave such employment, in the case of clauses (i) and (ii), other
than pursuant to general advertisements of employment.

 

(h)           The Company covenants and agrees that
it will not, and that it will cause the Subsidiaries (or any successor thereof)
not to, directly or indirectly, (i) employ or seek to employ any person
employed at such time by PCX or PCX Equities and then working in the
Archipelago Exchange Business, or (ii) otherwise encourage or entice such
person to leave such employment, in the case of clauses (i) and (ii), other
than pursuant to general advertisements of employment.

 

(i)            The provisions of this Section 4.3
were negotiated in good faith by the parties hereto and the parties hereto
agree that such provisions are reasonable and are not more restrictive than
necessary to protect their legitimate interests.  If any provision contained in this Section 4.3 shall for any
reason be held invalid, illegal or unenforceable in any respect, such invalidity,
illegality or unenforceability shall not affect any other provisions of this
Section 4.3, but this Section 4.3 shall be construed as if such invalid,
illegal or unenforceable provision had never been contained herein.  It is the intention of the parties that if
any of the restrictions or covenants contained herein is held to be for a
length of time which is not permitted by applicable Law, or in any way
construed to be too broad or to any extent invalid, such provision shall not be
construed to be null, void and of no effect, but to the extent such provision
would be valid or enforceable under applicable Law, an arbitral tribunal shall
construe and interpret or reform this Section 4.3 to provide for a covenant
having the maximum enforceable time period and

 

27

 

other provisions (not greater than those contained herein) as shall be
valid and enforceable under such applicable Law.  Each of the parties hereto acknowledges and agrees that a breach
or threatened breach by any party hereto or any of their respective
subsidiaries or affiliates of any of the restrictions set forth in this Section
4.3 will result in irreparable and continuing damage to the other parties for
which there may be no adequate remedy at law. In the event of any breach or threatened
breach by any party hereto or any of their respective subsidiaries or
affiliates of any of the aforesaid agreed upon restrictions, the other parties
hereto shall be entitled to injunctive relief as well as any other remedy at
law or in equity available to it and, in connection therewith, each of the
parties hereto waives and forfeits any right it may have to the posting of any
bond or similar support in the event of any breach or threatened breach by it
or any of its subsidiaries or affiliates.

 

4.4.          Excluded Liabilities;
Indemnification.  (a)  None of the Company or any of its
subsidiaries shall assume or be responsible for, and PCX, PCX Equities and
their respective subsidiaries shall retain and be responsible for, all of their
respective liabilities and obligations, including, without limitation, all
liabilities and obligations, arising out of or related to the business or
operations of PCX, PCX Equities or any of their respective subsidiaries,
existing, incurred, accrued or arising out of any action or inaction prior to
the date on which the Company or one of its subsidiaries becomes a facility of
PCX and PCX Equities pursuant to this Agreement, including, without limitation,
in connection with any disciplinary matter, litigation or other action arising
out of or related to any action or inaction by the individual or entity listed
in Section 4.4 of the PCX Disclosure Letter while the individual was a floor
broker on the floor of PCX, any liabilities or obligations relating to the
consummation of the transactions contemplated by this Agreement, the Original
Facility Services Agreement, the Original LLC Agreement and any other
Transaction-Related Agreement, the Equities Restructuring, and any liabilities
arising from the relationship of PCX or PCX Equities and any of the ETP
Holders, Equity ASAP Holders, Current PCX Related Persons or Current PCXE
Related Persons (the “Company Excluded Liabilities”).

 

(b)           From the date of the Original
Facility Services Agreement, PCX and PCX Equities agree that they

 

28

 

will jointly and severally indemnify and hold harmless the Company, its
subsidiaries and affiliates and their respective current, former or future
directors, officers, employees, agents and affiliates (the “Company Indemnified
Parties”), against any and all claims, costs, losses, liabilities, damages,
judgments, fines, penalties, deficiencies or expenses (including, without
limitation, interest, court costs, reasonable fees of attorneys, accountants and
other experts or other reasonable expenses of investigation, litigation or
other proceedings or of any claim, default or assessment) or other damage
(including, without limitation, expectation, actual, punitive and consequential
damages) (collectively, “Losses”) pertaining to, arising or resulting, directly
or indirectly, from or in connection with (i) any inaccuracy in any of the
representations or warranties of PCX or PCX Equities in this Agreement, the
Original Facility Services Agreement, the Original LLC Agreement or any other
Transaction-Related Agreement or in any certificate, instrument or other
document delivered in connection with this Agreement, the Original Facility
Services Agreement, the Original LLC Agreement or any other Transaction-Related
Agreement, (ii) any breach by PCX or PCX Equities of any agreement, covenant or
obligation in this Agreement, the Original Facility Services Agreement, the
Original LLC Agreement or any other Transaction-Related Agreement, (iii) any
Losses relating to any Company Excluded Liabilities, or (iv) any Third Party
Claim (as defined below) relating to any Loss arising from any matter referred
to in clauses (i), (ii) or (iii) above (and PCX or PCX Equities shall also
advance expenses as incurred to the fullest extent permitted by applicable
Law).

 

(c)           None of PCX, PCX Equities or any of
their respective subsidiaries shall assume or be responsible for, and
Archipelago Exchange, L.L.C. (“AELLC”) and its subsidiaries shall retain and be
responsible for, all of their respective liabilities and obligations,
including, without limitation, all liabilities and obligations, arising out of
or related to the business or operations of AELLC or any of its subsidiaries,
existing, incurred, accrued or arising out of any action or inaction prior to
the date on which the Company or one of its subsidiaries becomes a facility of
PCX and PCX Equities pursuant to this Agreement (the “PCX Excluded
Liabilities”).

 

29

 

(d)           From the date of the Original
Facility Services Agreement, the Company agrees that it will indemnify and hold
harmless PCX, its subsidiaries and affiliates and their respective current,
former or future directors, officers, employees, agents and affiliates (the
“PCX Indemnified Parties”), against any and all Losses pertaining to, arising
or resulting, directly or indirectly, from or in connection with (i) any
inaccuracy in any of the representations or warranties of the Company in this
Agreement, the Original Facility Services Agreement, the Original LLC Agreement
or any other Transaction-Related Agreement or in any certificate, instrument or
other document delivered in connection with this Agreement, the Original
Facility Services Agreement, the Original LLC Agreement or any other
Transaction-Related Agreement, (ii) any breach by the Company of any agreement,
covenant or obligation in this Agreement, the Original Facility Services
Agreement, the Original LLC Agreement or any other Transaction-Related
Agreement, (iii) any Losses relating to any PCX Excluded Liabilities, or (iv)
any Third Party Claim (as defined below) relating to any Loss arising from any
matter referred to in clauses (i), (ii) or (iii) above (and the Company shall
also advance expenses as incurred to the fullest extent permitted by applicable
Law.)

 

(e)           Promptly after receipt by either a
Company Indemnified Party or a PCX Indemnified Party, as the case may be (such
recipient, the “Indemnified Party”), of notice of the commencement of any
claim, action, suit, proceeding, demand or investigation (whether civil,
criminal, administrative or investigative), whether asserted or claimed prior
to, at or after the date on which the Company or its designee becomes a
facility of PCX and PCX Equities pursuant to this Agreement, by a third party
(a “Third Party Claim”) which gives rise to any Losses, such Indemnified Party
shall, if a claim in respect thereof is to be made against an indemnifying
party or indemnifying parties under this Agreement (such party against whom the
claim is to be made, the “Indemnifying Party”) under such Section, give notice
to the Indemnifying Party of its assertion of such claim for indemnification
and of the commencement of the action of its assertion of such claim for
indemnification and of the commencement of the action or assertion of the Third
Party Claim with respect to which the claim for indemnification pertains.  Failure so to notify the Indemnifying Party
shall not relieve the Indemnifying Party of any liability that it may have
under this Section 4.4 to

 

30

 

any Indemnified Party.  If any
such action shall be brought or a Third Party Claim shall be asserted against
an Indemnified Party and it shall give notice to the Indemnifying Party of the commencement
or assertion thereof, the Indemnifying Party shall be entitled, at its own
expense, to participate therein and, to the extent that it shall wish, to
assume the defense thereof with counsel reasonably satisfactory to such
Indemnified Party and, after notice from the Indemnifying Party to such
Indemnified Party of its election to assume the defense thereof, the
Indemnifying Party shall not be liable to such Indemnified Party under this
Section 4.4 for any fees of other counsel or any other expense (unless such
fees or expenses are incurred at the request of the Indemnifying Party), in
each case subsequently incurred by such Indemnified Party in connection with
the defense thereof; provided, however, that notwithstanding the foregoing, if
the Indemnifying Party elects not to assume such defense or counsel for the
Indemnified Parties advises that there are issues that raise conflicts of
interest between the Indemnifying Party, on the one hand, and the Indemnified
Parties, on the other hand, the Indemnified Parties may retain counsel
satisfactory to them, and the Indemnifying Party shall pay all reasonable fees
and expenses of such counsel for the Indemnified Parties promptly as statements
therefor are received.  If the
Indemnifying Party receives notice of any action or Third Party Claim, it shall
promptly notify the Indemnified Party as to whether, at the Indemnifying
Party’s expense, it intends to control the defense thereof.  If the Indemnifying Party defends an action,
it shall have full control over the litigation, including settlement and
compromise thereof, provided that no compromise or settlement thereof may be
effected by the Indemnifying Party without the Indemnified Party’s prior
written consent unless such compromise or settlement (i) includes the giving by
the claimant or plaintiff to such Indemnified Party of an unconditional and
irrevocable release from all liability in respect of all claims relating to
such Third Party Claim, (ii) does not include a statement as to or an admission
of fault, guilt, culpability or a failure to act by or on behalf of an
Indemnified Party, and (iii) does not include any limitations or restrictions
on the operation of the Archipelago Exchange. 
If indemnity is not available with respect to any Indemnified Party,
then the Indemnifying Party and the Indemnified Party shall contribute to the
amount payable in such proportion as is appropriate to reflect relative faults
and benefits.

 

31

 

(f)            A claim for indemnification under
this Section 4.4 for any matter not involving a Third Party Claim may be
asserted by notice (the “Claim Notice”) from an Indemnified Party to the
Indemnifying Party.  Such claim for
indemnification stated in the Claim Notice may be disputed by return notice
from the Indemnifying Party provided to the Indemnified Party not later than 30
days after receipt by the Indemnifying Party of the Claim Notice.  Such return notice shall state the claim or
claims in dispute and the reasons therefor in reasonable detail.

 

(g)           The obligations of PCX and PCX
Equities, on the one hand, and the Company, on the other hand, herein to
indemnify and hold harmless any Indemnified Party shall survive indefinitely
notwithstanding any termination of this Agreement or the Original Facility
Services Agreement; provided, however, that the obligations of PCX and PCX
Equities, on the one hand, and the Company, on the other hand, to indemnify and
hold harmless any Indemnified Party pursuant to Section 4.4(b)(i) and Section
4.4(d)(i), respectively, shall terminate when the applicable representation or
warranty terminates pursuant to Section 6.13 of this Agreement or Section 7.13
of the Contribution Agreement, as the case may be; and provided further, that
such obligations to indemnify and hold harmless shall not terminate with
respect to any item as to which the Indemnified Party to be indemnified shall
have, before the expiration of the applicable period, previously made a claim
by delivering a notice of such claim (in accordance with the terms of this
Section 4.4) to the Indemnifying Party.

 

4.5.          Cash Payment.  (a) 
The Company has paid the Cash Payment (as defined in the recital clauses
herein) upon execution and delivery of the Original Facility Services Agreement
and the other Transaction-Related Agreements dated as of July 12, 2000 and the
occurrence of the Closing (as defined in the Contribution Agreement) on July
12, 2000.  Each of PCX and PCX Equities
covenants and agrees to use $25 million of the Cash Payment to restructure and
terminate the PCX Equities Business and to establish the support and
infrastructure of the Archipelago Exchange Business, provided that if the cost
of such restructuring (the “Actual Restructuring Cost”) is less than $25
million, PCX and PCX Equities covenant and agree to use for the support of the
self-regulatory functions of PCX the amount by which the Actual Restructuring
Cost is less than $25 million (but not

 

32

 

to offset any charges for self-regulatory services provided pursuant to
Section 4.9 hereof).  Each of PCX and
PCX Equities acknowledges and agrees that the Company made the Cash Payment in
reliance upon Section 4.5 of the Original Facility Services Agreement and that
PCX shall be solely responsible for the payment of any income taxes due as a
result of the Cash Payment.

 

(b)           The parties hereto agree that the
Cash Payment shall be treated for all tax purposes as a payment for services
and a covenant not to compete.

 

4.6.          Operations of PCX Equities Business.  Prior to the commencement of operations of
the Archipelago Exchange in accordance with Article I, PCX Equities shall
operate the PCX Equities Business for its own account and only in the ordinary
and usual course, consistent with past practice, provided that each of PCX and
PCX Equities may take actions or enter into agreements it deems necessary or
appropriate to complete the Equities Restructuring so long as it complies with
Section 4.10.  Upon the occurrence after
the date of the Original Facility Services Agreement of any material losses in
connection with such PCX Equities Business or upon the forecast by PCX of
material losses by it in connection with the PCX Equities Business and only
after the Company’s receipt of at least 30 days’ advance notice from PCX
Equities, PCX Equities may commence closing the operating portion of such PCX
Equities Business to minimize further losses unless the Company provides notice
to PCX Equities within such 30-day period that the Company may be willing to absorb
all or a portion of such losses, in which case PCX Equities and the Company
shall be obligated to negotiate in good faith the terms of a loss sharing
arrangement with respect to such PCX Equities Business during which time PCX
Equities shall continue to conduct such PCX Equities Business.  At the end of such 30-day period, in the
absence of an agreed loss-sharing arrangement, PCX Equities may commence
closing the operating portion of such PCX Equities Business.

 

4.7.          Confidentiality.  The provisions of this Section 4.7 were
negotiated in good faith by the parties hereto and the parties hereto agree
that such provisions are reasonable and are not more restrictive than necessary
to protect their legitimate interests. 
Notwithstanding any other provision of this Agreement, the Original
Facility Services Agreement, the Original LLC Agreement or any

 

33

 

Transaction-Related Agreement that may be to the contrary, each party
(the “Receiving Party”) will keep confidential any and all Confidential
Information furnished to it by any other party or such other party’s
affiliates, representatives or agents, and none of the parties hereto and their
respective affiliates, representatives and agents shall use or disclose the
Confidential Information except as expressly permitted in this Agreement.  “Confidential Information” means any and all
data and information of a proprietary or confidential nature (including,
without limitation, orders, trades, positions, trade limits and other trading
data and information of a proprietary or confidential nature) that is owned or
controlled by, or provided on a confidential basis to, any party hereto or its
respective affiliates and is made available by one party or its affiliates to any
other party or its affiliates prior to, during or after the term of this
Agreement or the Original Facility Services Agreement in connection with the
transactions contemplated by this Agreement, the Original Facility Services
Agreement, the Original LLC Agreement or any other Transaction-Related
Agreements.  Confidential Information
shall not include information which: (a) was known or used by the receiving
party or its affiliates prior to its date of disclosure to the receiving party,
as evidenced by the prior written records of the receiving party or its
affiliates; (b) either before or after the date of the disclosure to the
receiving party, is lawfully disclosed without restriction on disclosure to the
receiving party or its affiliates by an independent, unaffiliated third party
whose disclosure of such information does not violate any obligation to or
right of the party owning or controlling the Confidential Information; (c)
either before or after the date of the disclosure to the receiving party, becomes
published or generally known through no fault or admission on the part of the
receiving party or its affiliates or their employees or agents; (d) is
disclosed by the receiving party pursuant to oral questions, interrogatories,
requests for information or documents, subpoena, or a civil investigative
demand of a court or governmental agency, provided that (i) the receiving party
notifies the other party as promptly as practicable upon receipt thereof, (ii)
the disclosing party furnishes only that portion of the information which it is
advised by counsel is legally required, and (iii) the receiving party imposes
such obligations of secrecy as are possible with respect to such information;
or (e) is required to be disclosed by a party under any statutory, regulatory
or

 

34

 

similar legislative requirement or any rule of any self-regulatory
organization to which it or any of its affiliates is subject, provided, that
the disclosing party uses reasonable efforts to obtain confidential treatment
of the Confidential Information.  Each
of PCX and PCX Equities agrees to treat as confidential and not to disclose
Confidential Information to any officers, employees, representatives or agents
of PCX or PCX Equities (other than officers, employees, representatives or
agents of PCX or PCX Equities who have a need to know the same (x) for purposes
of PCX’s and PCX Equities’ performance of their obligations hereunder or under
the Original Facility Services Agreement, the Original LLC Agreement or any of
the Transaction-Related Agreements or (y) to the extent necessary for PCX to
exercise PCX’s ability to monitor, surveil, investigate or regulate the
marketplace consistent with its obligations under the Exchange Act or to bring
disciplinary or enforcement actions against any ETP Holders or members,
including, without limitation, with respect to any violations by such ETP
Holders or members of the Exchange Act or any other applicable law or
regulation or to conduct periodic examinations of each broker-dealer for which
PCX is the Designated Examining Authority, monitor each such broker-dealer’s
adherence to all applicable rules and regulations of the Commission and PCX and
act as the PCX collection agent for the Securities Investor Protection
Corporation (“SIPC”) and monitor each such broker-dealer’s compliance with SIPC
requirements (the “PCX Regulatory Functions”) with respect to the Archipelago
Exchange; such officers, employees, representatives and agents being defined
herein as “Permitted Representatives”), and to cause such Permitted
Representatives not to disclose any Confidential Information to any officers,
employees, representatives or agents of PCX or PCX Equities (other than
Permitted Representatives).  Upon
termination of this Agreement pursuant to Section 5.1(c), the Company, on the
one hand, and PCX and PCX Equities, on the other hand, shall each use its
reasonable best efforts promptly to return or destroy, or cause to be returned
or destroyed, all Confidential Information furnished to it by the other or such
other’s affiliates, representatives or agents unless the Commission
record-keeping rules or other applicable Laws prohibit destruction.

 

4.8.          PCX Board of Governors; PCX
Equities Board of Directors.  PCX
(i) prepared and circulated to its members in December 2000 all amendments to
its Constitution

 

35

 

necessary for a designee of the Company to serve as a member of PCX’s
Board of Governors as contemplated by Section 5.5 of the Contribution Agreement
and (ii) covenants and agrees to use its best efforts to obtain the approval
thereof by its members, including, without limitation, by holding a meeting of
its members in January 2001 for such approval. 
PCX shall use its best efforts to obtain any required approvals of such
amendments by the Commission and to have such designee elected or appointed to
PCX’s Board of Governors and retain his position as a member thereof, in each
case as promptly as practicable after obtaining such approval by PCX’s
members.  Until a designee of the
Company is elected or appointed to PCX’s Board of Governors, the Company shall
be entitled to designate one individual to act as an advisor at all meetings of
PCX’s Board of Governors, and PCX shall furnish such advisor with copies of all
notices and other documents related to any meetings of PCX’s Board of Governors
as promptly as practicable in advance of such meetings and shall permit such
advisor to attend such meetings (telephonically or otherwise) and to
participate in the deliberations of such meetings consistent with the conflicts
policies of PCX, which as of the date of the Original Facility Services
Agreement were set forth in Annex B thereto. 
Each of PCX and PCX Equities shall use its best efforts to have a
designee of the Company elected or appointed to PCX Equities’ Board of
Directors and retain such designee’s position as a member thereof as promptly
as practicable after the date hereof. 
Such designee shall be the Chairman of the Board of Managers of the
Company or, if not the Chairman of the Board of Managers of the Company, such
other individual as shall be acceptable to PCX and PCX Equities.  Until a designee of the Company is elected
or appointed to PCX Equities’ Board of Directors, the Company shall be entitled
to designate one individual to act as an advisor at all meetings of PCX
Equities’ Board of Directors, and PCX Equities shall, and PCX shall cause PCX
Equities to, furnish such advisor with copies of all notices and other documents
related to any meetings of PCX Equities’ Board of Directors as promptly as
practicable in advance of such meetings and shall permit such advisor to attend
such meetings (telephonically or otherwise) and to participate in the
deliberations of such meetings.  The
designees of the Company may be removed from PCX’s Board of Governors and PCX
Equities’ Board of Directors at any time after this Agreement is terminated in
accordance with its terms.

 

36

 

4.9.          Self-Regulatory Organization
Services.  (a)  Until termination of this Agreement pursuant
to Sections 5.1(a) or 5.1(b), PCX and PCX Equities shall provide to the
Archipelago Exchange the services that are necessary or reasonably appropriate
under the Exchange Act and to carry out their related responsibilities as a
self-regulatory organization under the Exchange Act, consistent with PCX’s
ability to monitor, surveil, investigate or regulate the marketplace consistent
with its obligations under the Exchange Act or to bring disciplinary or
enforcement actions against any ETP Holders, Equity ASAP Holders, members or
specialists, including, without limitation, with respect to any violations by
such ETP Holders, Equity ASAP Holders, members or specialists of the Exchange
Act or any other applicable law or regulation or to conduct periodic
examinations of each broker-dealer for which PCX is the Designated Examining
Authority, monitor each such broker-dealer’s adherence to all applicable rules
and regulations of the Commission and PCX and act as the PCX collection agent
for the SIPC and monitor each such broker-dealer’s compliance with SIPC
requirements.

 

(b)           Upon the request from time to time of
either PCX Equities or the Company, representatives of PCX, PCX Equities and
the Company shall meet to consult regarding the provision of such services to
the Archipelago Exchange.

 

(c)           PCX, PCX Equities and the Company
have agreed on an initial budget to compensate PCX and PCX Equities for the
provision of the services described in Section 4.9(a), which budget shall be
reviewed from time to time by the parties and shall be amended from time to
time pursuant to their mutual agreement to increase or decrease the resources
allocated by PCX and PCX Equities to the services to be provided and the
compensation for the costs related thereto. 
From and after the date that is six months after the date that the
Archipelago Exchange commences operations as provided under Article I, the
parties shall consult with each other in good faith and use their reasonable
best efforts to agree upon the budget for such services for the immediately
succeeding year.  If the parties are
unable to agree upon such a budget prior to the commencement of such succeeding
year, the budget for such succeeding year shall consist of the budget for the
immediately preceding year with the amount for each item in such budget
increased by 5% from the amount in such prior year’s budget.  Such consultation process shall thereafter
be repeated for each

 

37

 

subsequent year, provided that if following the termination of Section
4.3(f) the Company enters into a contract, agreement or other arrangement with
another self-regulatory organization to provide such services to the Archipelago
Exchange, the parties shall use their reasonable best efforts to renegotiate
the budget of PCX and PCX Equities for such services to the Archipelago
Exchange in light of such other contract, agreement or arrangement and with a
view to eliminating duplication by PCX and PCX Equities in providing such
services.

 

4.10.        Equities Restructuring.  Section 4.10 of the PCX Disclosure Letter
sets forth all of the agreements (other than the Original Facility Services
Agreement, this Agreement, the Original LLC Agreement and the other
Transaction-Related Agreements) to which PCX, PCX Equities or any of their
respective subsidiaries is a party relating to the Equities Restructuring.  Neither PCX, PCX Equities nor any of their
respective subsidiaries may amend, modify, delete or supplement in any material
respect any of the terms or conditions of the forms of agreements set forth in
Section 4.10 of the PCX Disclosure Letter, enter into agreements that have
materially different terms or conditions than contained in such forms of
agreements relating to the Equities Restructuring, or otherwise materially
affect the Equities Restructuring other than as described in Section 4.10 of
the PCX Disclosure Letter, without the prior written consent of the Company,
provided that the foregoing shall not restrict PCX, PCX Equities or their
respective subsidiaries from entering into a tax sharing agreement, shareholder
agreement or other intercompany agreement in connection with the restructuring
that does not have any of the foregoing effects that are material to the
Company.

 

4.11.        Interest in PCX Equities.  For so long as this Agreement is in effect,
each of PCX and PCX Equities covenants and agrees that PCX shall remain the
sole shareholder of PCX Equities and that PCX’s current interest in PCX
Equities shall not in any way be diluted, including, without limitation, by the
sale or issuance of additional interests in PCX Equities to any other Person,
provided that, upon receiving the Commission’s prior approval thereof and confirmation
that PCX Equities will not be required to register as a national securities
exchange, members of PCX’s Board of Governors, members of PCX Equities’ Board
of Directors, members of PCX or officers or employees of PCX or

 

38

 

PCX Equities may also be shareholders of PCX Equities so long as PCX
owns at least a 51% interest in PCX Equities.

 

4.12.        Technology Support.  Until termination of this Agreement pursuant
to Section 5.1(a) or 5.1(b), the Company shall provide to PCX and PCX Equities
such technology support as may be necessary for the Archipelago Exchange to
operate in accordance with applicable Laws or any other direction or request by
the Commission.  In this regard, in
furtherance of the performance of their PCX Regulatory Functions, PCX and PCX
Equities shall provide to the Company from time to time reasonably detailed
specifications as to applications and systems required for such operation of
the Archipelago Exchange, including, without limitation, in respect of
Automation Review Policy and surveillance system automated requirements,
software applications and support (including in-person assistance with
operating inquiries). Notwithstanding anything to the contrary in this Section
4.12, the Company shall not be required to provide or pay for any technology
support that is contemplated to be provided or paid for by PCX or PCX Equities
pursuant to the then applicable budget referred to in Section 4.9(c) or that is
related to accounting functions or any other corporate overhead functions.  Upon request of the other party or parties,
the Company, on the one hand, and PCX and PCX Equities, on the other hand,
shall assist the other party or parties in developing any interfaces necessary
for it or them, as the case may be, to perform its or their obligations under
this Agreement.  The party or parties
requesting such assistance shall bear all costs relating to such assistance on
the development of such interfaces and shall reimburse the other party or parties
for all of their reasonable expenses in providing such assistance.

 

4.13.        Recordkeeping; Access to Information.  Until the later of (x) termination of this
Agreement pursuant to Section 5.1(a) or 5.1(b) and (y) expiration of such
period of time required by the Commission, AELLC shall (a) keep and preserve at
least one copy of all documents, including all correspondence, memoranda,
papers, books, notices, accounts, and other such records as shall be made or
received by it in the course of its business in respect of the Archipelago
Exchange, (b) keep all such documents for a period of not less than five years,
the first two years in an easily accessible place, subject to the destruction
and disposition provisions of Exchange Act Rule 17a-6, (c) upon

 

39

 

the request of any representative of the Commission, promptly furnish
to the possession of such representative copies of any documents required to be
kept and preserved pursuant to clauses (a) and (b) of this Section 4.13, and
(d) upon the request of PCX and to the extent that PCX deems necessary for it
to exercise its regulatory functions in respect of the Archipelago Exchange,
promptly furnish to PCX copies of any documents required to be kept and
preserved pursuant to such clauses (a) and (b).  The Company agrees to provide to PCX and PCX Equities all
information available to it necessary or advisable with respect to the
qualifications of employees of the Company or its subsidiaries with access to
sensitive order and trading information and other confidential information, in
each case of the Archipelago Exchange, or who will have responsibility for
trading on the Archipelago Exchange, or who will deal directly with subscribers
to the Archipelago Exchange, to the extent necessary for PCX to carry out the
PCX Regulatory Functions in respect of the Archipelago Exchange, and PCX and
PCX Equities may monitor the activities of such employees to the extent
necessary for PCX to carry out the PCX Regulatory Functions in respect of the
Archipelago Exchange.  Notwithstanding
anything to the contrary in this Section 4.13, none of PCX, PCX Equities and
the Company shall be required to violate any Law applicable to it or waive any
applicable privilege.

 

4.14.        Financial Statements.  Until termination of this Agreement pursuant
to Section 5.1(a) or 5.1(b), each of PCX and PCX Equities will, as promptly as
practicable, provide or make available to the Company current draft and final
versions of any annual or quarterly financial statements of it (consolidated or
otherwise) prepared subsequent to the date of the Original Facility Services
Agreement.

 

4.15.        Business Operations and PCX
Regulatory Functions.  The parties
hereto agree that, until termination of this Agreement pursuant to Section
5.1(a) or 5.1(b), the Company shall direct all business operations and policies
of the Archipelago Exchange to the extent not inconsistent with the PCX
Regulatory Functions or applicable laws and regulations, on the one hand, and
PCX shall direct all of the PCX Regulatory Functions to the extent not
inconsistent with applicable laws and regulations, on the other hand.

 

40

 

4.16.        Consents.  Subject to the Letter Agreement, each of PCX
and PCX Equities covenants and agrees to use its best efforts to obtain the
consents and approvals listed in Sections 2.3, 2.4(b) and 2.5 of the PCX
Disclosure Letter promptly.

 

4.17.        General Communications.  Notwithstanding anything to the contrary in
this Agreement, the Company and its subsidiaries shall be entitled to
communicate directly with the Commission or any other Governmental Authority
(in writing or otherwise) with regard to matters relating to the securities
business and the securities industry, including, without limitation, by
attending conferences and meetings and submitting comment letters in response
to proposed rules issued by the Commission that relate to or affect the
securities business or the securities industry, and the Company and its
subsidiaries shall be entitled to submit comment letters directly to the
Commission with respect to proposed rules issued by the Commission that relate
to or affect the Archipelago Exchange.

 

4.18.        Waiver.  Each of PCX and PCX Equities hereby waives any and all immunities
it may have, including, without limitation, any sovereign or absolute immunity
it may otherwise be entitled to as a national securities exchange and
self-regulatory organization, in connection with the Original Facility Services
Agreement, this Agreement, the Original LLC Agreement and each of the
Transaction-Related Agreements, including, without limitation, with respect to
any claims that the Company or any other Company Indemnified Party may be
entitled to assert or any remedies under the Original Facility Services
Agreement, this Agreement, the Original LLC Agreement or any
Transaction-Related Agreement and with respect to any representations,
warranties, covenants and agreements of PCX or PCX Equities contained herein or
therein; provided that this waiver shall not apply with respect to any PCX
Regulatory Function that is carried on by PCX or PCX Equities in accordance
with the terms of this Agreement.

 

ARTICLE V.

 

TERMINATION

 

5.1.          Termination.  (a) 
The Company may provide notice of termination of this Agreement to PCX
and PCX Equities (i) at any time after PCX or PCX Equities becomes

 

41

 

insolvent or bankrupt or is liquidated or winding-up or makes an
assignment for the benefit of its creditors or voluntarily files for, or is
placed in, voluntary bankruptcy or takes any other action which would indicate
insolvency, bankruptcy, liquidation or winding-up on its part or after PCX is
no longer in good standing as a national securities exchange or as a self-regulatory
organization under applicable Law, (ii) at any time after a breach by PCX or
PCX Equities of this Agreement, the Original Facility Services Agreement, the
Original LLC Agreement or any of the Transaction-Related Agreements or a
violation by PCX, PCX Equities or any of their respective subsidiaries of
applicable Law that has resulted in, or is reasonably likely to result in, PCX
losing its status as a U.S. national securities exchange or self-regulatory
organization or the Archipelago Exchange having to terminate conducting all
business for an indefinite period of time, and after the Company has provided
written notice to PCX of such breach or violation, PCX, PCX Equities or such
other subsidiary of PCX or PCX Equities has willfully failed to take any action
to cure such breach or violation within 60 days of receiving such notice, or
(iii) in the Company’s sole discretion at any time on or after the second
anniversary of the Closing Date (as defined in the Contribution Agreement).

 

(b)           PCX or PCX Equities may provide
notice of termination of this Agreement to the Company (i) at any time after a
breach by the Company of this Agreement, the Original Facility Services
Agreement, the Original LLC Agreement or any of the Transaction-Related
Agreements or a violation by the Company or any of its subsidiaries of
applicable Law that has resulted in, or is reasonably likely to result in, PCX
losing its status as a U.S. national securities exchange or self-regulatory
organization or the Archipelago Exchange having to terminate conducting all
business for an indefinite period of time, and after PCX has provided written
notice to the Company of such breach or violation, the Company or such
subsidiary of the Company has willfully failed to take any action to cure such
breach or violation within 60 days of receiving such notice, or (ii) at any
time after the Company becomes insolvent or bankrupt or is liquidated or
winding-up or makes an assignment for the benefit of its creditors or
voluntarily files for, or is placed in, voluntary bankruptcy or takes any other
action which would indicate insolvency, bankruptcy, liquidation or winding-up
on its part.

 

42

 

(c)           After notice of termination has been
provided in accordance with Sections 5.1(a) or 5.1(b), each of the parties
hereto shall use its best efforts and cooperate in good faith with the other
parties hereto to make alternative arrangements and accommodations mutually
agreed upon by the parties hereto with respect to the trading and
self-regulatory organization services arrangements set forth in this Agreement
and the other Transaction-Related Agreements. 
This Agreement shall terminate on the date that such alternative arrangements
and accommodations described in the immediately preceding sentence are in
place, provided that, in the event that the Company or PCX has not previously
provided notice of termination of Sections 4.3(a) through 4.3(f) and 4.3(i)
pursuant to Section 5.1(d), each of the parties hereto shall be released from
the covenants set forth in Sections 4.3(a) through 4.3(f) and Section 4.3(i)
from the date that notice of termination has been provided in accordance with
Sections 5.1(a) or 5.1(b) through the date of termination of this Agreement to
the extent necessary for such party to prepare for and enter into alternative
arrangements or accommodations, but not to trade any Covered Equity Securities
other than through the Archipelago Exchange. 
Notwithstanding the foregoing, the party providing notice of termination
may provide for, and set forth in such notice, a termination date (“Termination
Date”) consistent with implementing an orderly transition, on which Termination
Date this Agreement shall terminate if this Agreement has not previously been
terminated in accordance with the immediately preceding sentence.

 

(d)           Notwithstanding anything to the
contrary in this Section 5.1, (i) at any time that the Company is entitled to
provide notice of termination of this Agreement to PCX and PCX Equities pursuant
to Section 5.1(a), the Company shall be entitled instead to provide notice of
termination of Sections 4.3(a) through 4.3(f) and Section 4.3(i), provided that
the provision of such notice of termination of Sections 4.3(a) through 4.3(f)
and Section 4.3(i) shall not prevent the Company thereafter from terminating
this Agreement altogether pursuant to and in accordance with Section 5.1 in its
sole discretion and shall not in any way prejudice the Company’s rights under
Sections 5.1(a) and 5.1(c), and (ii) at any time after the fourth anniversary
of the Closing Date (as defined in the Contribution Agreement) the Average
Market Share during any 180-day period after such fourth anniversary is less
than 1%, PCX shall be entitled to provide notice of termination

 

43

 

of Sections 4.3(a) through 4.3(f) and Section 4.3(i), provided that the
provision of such notice of termination of Sections 4.3(a) through 4.3(f) and
Section 4.3(i) shall not prevent PCX or PCX Equities thereafter from
terminating this Agreement altogether pursuant to and in accordance with
Section 5.1 in its sole discretion at any time that it is entitled to provide
notice of termination of this Agreement to the Company pursuant to Section
5.1(b) and shall not in any way prejudice PCX’s or PCX Equities’ rights under
Sections 5.1(b) and 5.1(c).  Upon the
provision of such notice of termination of Sections 4.3(a) through 4.3(f) and
Section 4.3(i), such Sections shall no longer apply to the parties hereto after
the provision of such notice of termination, provided that all rights of the
parties hereto in respect of any breaches of such Sections prior to the
provision of such notice of termination shall be preserved and not in any way
restricted or limited by such notice of termination and the remainder of this
Agreement shall remain in full force and effect until this Agreement is
terminated in accordance with Section 5.1(c). 
For purposes of this Agreement, “Average Market Share,” for any period,
shall mean the weighted average market share of Equity Securities traded in the
United States on or through the Archipelago Exchange during such period,
determined by calculating the aggregate number of shares traded during such
period on or through the Archipelago Exchange in relation to the aggregate
number of shares traded during such period on or through Nasdaq and all U.S.
national securities exchanges, with such determination being limited only to
shares of Equity Securities traded on or through the Archipelago Exchange (it
being understood, moreover, that to the extent any Equity Security was not
traded on or through the Archipelago Exchange during such entire period, it
shall be included in such determination only with respect to the days that it
was traded on or through the Archipelago Exchange).

 

44

 

ARTICLE VI.

 

MISCELLANEOUS

 

 

6.1.          Notices.  Unless otherwise specified in this
Agreement, all notices, demands, elections, requests or other communications
that any party to this Agreement may desire or be required to give hereunder
shall be in writing and shall be given by hand, by facsimile, or by a
recognized overnight courier service providing confirmation of delivery,
addressed as follows:

 

	
  (a)

  	
  if to the Company:

  
	
   

  	
   

  
	
   

  	
  Archipelago Holdings,
  L.L.C.

  
	
   

  	
  100 South Wacker Drive

  
	
   

  	
  20th Floor

  
	
   

  	
  Chicago, Illinois  60606

  
	
   

  	
  Telecopy:  (312) 621-0487

  
	
   

  	
  Attn:

  	
  Chief Executive Officer

  General Counsel

  
	
   

  	
   

  
	
   

  	
  with a copy to:

  
	
   

  	
   

  
	
   

  	
  Sullivan & Cromwell

  
	
   

  	
  125 Broad Street

  
	
   

  	
  New York, New York  10004

  
	
   

  	
  Telecopy:  (212) 558-3588

  
	
   

  	
  Attn:

  	
  John Evangelakos

  
	
   

  	
   

  
	
  (b)

  	
  if to PCX or PCX
  Equities:

  
	
   

  	
   

  
	
   

  	
  Pacific Exchange, Inc.

  
	
   

  	
  115 Sansome Street

  
	
   

  	
  San Francisco,
  California 94104

  
	
   

  	
  Telecopy:  (415) 393-4150   

  
	
   

  	
  Attn:

  	
  Chief Executive Officer

  General Counsel

  

 

All notices given
pursuant to this Section 6.1 shall be deemed to have been given (i) if
delivered by hand on the date of delivery or on the date delivery was refused
by the addressee, (ii) if delivered by facsimile transmission, when transmitted
to the applicable number so specified in (or pursuant to) this Section 6.1 and
an appropriate answer back is received or (iii) if delivered by overnight
courier, on the date of delivery as established by the courier service

 

45

 

confirmation (or the date
on which the courier service confirms that acceptance of delivery was refused
by the addressee).  Any party from time
to time may change its address, facsimile number or other information for
purposes of notices to that party by giving notice specifying such change to
the other parties hereto.

 

6.2.          Definitions; Headings and Captions.  (a) 
Terms used but not defined in this Agreement shall have the meaning
ascribed to such terms in the LLC Agreement.

 

(b)           All headings and captions contained
in this Agreement are inserted for convenience only and shall not be deemed a
part of this Agreement.

 

For all purposes hereof
the following defined terms have the meaning set forth in the relevant Section
referred to below:

 

	
  AAA

  	
   

  	
  6.5(d)

  
	
  Actual Restructuring Cost

  	
   

  	
  4.5(a)

  
	
  AELLC

  	
   

  	
  4.4(c)

  
	
  Archipelago Exchange

  	
   

  	
  Recitals

  
	
  Archipelago Exchange Business

  	
   

  	
  Recitals

  
	
  Average Market Share

  	
   

  	
  5.1(d)

  
	
  Cash Payment

  	
   

  	
  Recitals

  
	
  Claim Notice

  	
   

  	
  4.4(f)

  
	
  Commission

  	
   

  	
  Recitals

  
	
  Company Disclosure Letter

  	
   

  	
  3

  
	
  Company Excluded Liabilities

  	
   

  	
  4.4(a)

  
	
  Company Indemnified Parties

  	
   

  	
  4.4(b)

  
	
  Company Material Adverse Effect

  	
   

  	
  3.1

  
	
  Competing Activities

  	
   

  	
  4.3(e)

  
	
  Complaining Party

  	
   

  	
  6.5(b)

  
	
  Confidential Information

  	
   

  	
  4.7

  
	
  Contract

  	
   

  	
  2.4

  
	
  Contribution Agreement

  	
   

  	
  Recitals

  
	
  Covered Equity Securities

  	
   

  	
  4.3(a)

  
	
  Current PCX Related Persons

  	
   

  	
  2.6

  
	
  Current PCXE Related Persons

  	
   

  	
  2.6

  
	
  DTCC

  	
   

  	
  Recitals

  
	
  ECN

  	
   

  	
  Recitals

  
	
  Eligible

  	
   

  	
  4.3(c)

  
	
  Equities Restructuring

  	
   

  	
  2.3

  
	
  Equity ASAP Holder

  	
   

  	
  2.6

  
	
  Equity Securities

  	
   

  	
  Recitals

  
	
  ETP Holder

  	
   

  	
  2.6

  

 

46

 

	
  Exchange Act

  	
   

  	
  Recitals

  
	
  Exchange Agreement

  	
   

  	
  3.3

  
	
  Exchange Agreement
  Disclosure Letter

  	
   

  	
  3.3

  
	
  Federal Securities Laws

  	
   

  	
  4.1(f)

  
	
  Final Market Rules

  	
   

  	
  4.1(a)

  
	
  Governmental Authority

  	
   

  	
  2.5

  
	
  Indemnified Party

  	
   

  	
  4.4(e)

  
	
  Indemnifying Party

  	
   

  	
  4.4(e)

  
	
  Law

  	
   

  	
  4.1(a)

  
	
  Laws

  	
   

  	
  4.1(a)

  
	
  Letter Agreement

  	
   

  	
  2.4

  
	
  LLC Agreement

  	
   

  	
  Recitals

  
	
  Losses

  	
   

  	
  4.4(b)

  
	
  Market Structure

  	
   

  	
  4.1(a)

  
	
  Material Adverse Effect

  	
   

  	
  2.1

  
	
  NASD

  	
   

  	
  Recitals

  
	
  NMS Plans

  	
   

  	
  4.1(m)

  
	
  NMS Representative

  	
   

  	
  4.1(m)

  
	
  OPRA

  	
   

  	
  Recitals

  
	
  Optimark

  	
   

  	
  4.3(a)

  
	
  Optimark Activities

  	
   

  	
  4.3(a)

  
	
  Original LLC Agreement

  	
   

  	
  Recitals

  
	
  Other Necessary
  Approvals and Consents

  	
   

  	
  4.1(a)

  
	
  PCX Disclosure Letter

  	
   

  	
  2

  
	
  PCX Equities Business

  	
   

  	
  1.1(a)

  
	
  PCX Excluded Liabilities

  	
   

  	
  4.4(c)

  
	
  PCX Indemnified Parties

  	
   

  	
  4.4(d)

  
	
  PCX Regulatory
  Functions

  	
   

  	
  4.7

  
	
  Permitted
  Representatives

  	
   

  	
  4.7

  
	
  Person

  	
   

  	
  2.1

  
	
  Receiving Party

  	
   

  	
  4.7

  
	
  REDI

  	
   

  	
  Recitals

  
	
  Regulatory Approvals

  	
   

  	
  2.5

  
	
  Revised Market Rules

  	
   

  	
  4.1(a)

  
	
  Rules

  	
   

  	
  6.5(d)

  
	
  Self-Regulatory Organization

  	
   

  	
  3.4

  
	
  Shares

  	
   

  	
  Recitals

  
	
  SIPC

  	
   

  	
  4.7

  
	
  Subsidiary

  	
   

  	
  6.15

  
	
  Termination Date

  	
   

  	
  5.1(c)

  
	
  Third Party Claim

  	
   

  	
  4.4(e)

  
	
  Transaction-Related
  Agreements

  	
   

  	
  2.2

  
	
  Waiver Letter

  	
   

  	
  Recitals

  
	
  WAVE

  	
   

  	
  Recitals

  

 

6.3.          Variance of Pronouns.  All pronouns and all variations thereof
shall be deemed to refer to the

 

47

 

masculine, feminine or neuter, singular or plural, as the identity of
the person or entity may require.

 

6.4.          Counterparts.  This Agreement may be executed in two or
more counterparts, each of which shall constitute an original and all of which,
when taken together, shall constitute one Agreement.

 

6.5.          Governing Law.

 

(a)           THIS AGREEMENT IN ALL RESPECTS SHALL
BE INTERPRETED, CONSTRUED AND GOVERNED BY AND IN ACCORDANCE WITH THE LAWS OF
THE STATE OF DELAWARE WITHOUT REGARD TO THE CONFLICT OF LAW PRINCIPLES THEREOF.

 

(b)           In the event that a party (the
“Complaining Party”) has a dispute or disagreement with any other party
relating to this Agreement, such Complaining Party shall provide written notice
to the other of the foregoing and request a meeting to discuss such dispute or
disagreement. The parties shall thereafter meet and discuss such dispute or
disagreement in good faith, without obligation but with the objective of
seeking an amicable resolution satisfactory to each of the parties. If such
dispute or disagreement cannot be resolved after the good faith efforts of the
applicable parties, then any such party may deliver notice to initiate
arbitration in accordance with this Section 6.5; provided, however, that no
party to this Agreement shall initiate arbitration in respect of such dispute
or disagreement (but only with respect to such dispute or disagreement) until
thirty (30) days have passed from the date that such written notice is first
given unless such party believes, in good faith, that any delay in initiating
such arbitration may cause it irreparable harm. Thereafter, any unresolved
controversy or claim arising out of or relating to this Agreement, or the breach
thereof, shall be settled by arbitration. Each of the parties agrees to follow
the procedures, and abide by the requirements, set forth in this Section 6.5.

 

(c)           The parties acknowledge that
pre-arbitration discovery is generally more limited than and different from
court proceedings and any party’s right to appeal or to seek modification of
rulings by the arbitrators is strictly limited.  Notwithstanding anything to the contrary herein, the parties
intend that, to the fullest extent permitted by applicable law, punitive
damages shall not be awarded in any

 

48

 

event pursuant to any arbitration conducted under this Agreement.

 

(d)           Any arbitration shall be exclusively
referred to and finally resolved by arbitration in accordance with the
Commercial Arbitration Rules (the “Rules”) of the American Arbitration
Association (the “AAA”), which Rules are deemed to be incorporated by reference
into this Section 6.5, to the extent such Rules are not inconsistent with the
provisions of this Agreement or Delaware law. 
Any such arbitration shall be (i) brought in Washington, D.C., (ii)
conducted in English, and (iii) to the maximum extent permitted by applicable
law, final, binding and conclusive upon the parties thereto.  If the arbitrators deem it necessary or
appropriate, the parties to any dispute may be permitted limited discovery
based on the United States Federal Rules of Civil Procedure then in effect,
subject to applicable law and such limitations as the arbitrators may impose
consistent with the objective of expediting the resolution of the dispute;
provided, however, that in any dispute submitted to arbitration hereunder that
relates to whether any Person is required to furnish indemnity under this
Agreement, to the fullest extent permitted by applicable law, discovery rights
in accordance with the United States Federal Rules of Civil Procedure then in
effect shall be applicable and available in all events.  The parties agree that service of any notice
in the course of any such arbitration at their respective addresses for notice
and in the manner provided herein shall be valid and sufficient notice for
purposes of such arbitration.  Each of
the parties agrees to be bound by such arbitration.

 

(e)           In any arbitration pursuant to this
Agreement, the award shall be rendered by a majority of the members of an
arbitral tribunal consisting of three arbitrators, each of whom shall be an
attorney experienced in and familiar with the federal securities laws and
regulations related to the matters addressed in this Agreement.  One arbitrator shall be appointed by PCX and
one arbitrator shall be appointed by the Company, each within 30 days after the
commencement of the arbitration.  The
third arbitrator shall be appointed by mutual agreement of the two arbitrators
selected by PCX, on the one hand, and the Company, on the other hand, and shall
be experienced in corporate contractual matters relating to transactions of the
nature contemplated by this Agreement. 
The third arbitrator shall act as Chair of the arbitral tribunal.  In

 

49

 

the event of the failure of said two arbitrators to agree as to the
third arbitrator within 20 days after the appointment of the last of the two arbitrators,
the third arbitrator shall be appointed by the AAA as administrator under the
Rules within 15 days thereafter in accordance with its then existing Rules upon
application by any of the parties to the arbitration.  Notwithstanding the foregoing, if either PCX or the Company fails
to appoint the arbitrators they are respectively required to appoint within the
specified time period, such arbitrator and the third arbitrator shall be
appointed by the AAA in accordance with the Rules.  The AAA shall not appoint all three arbitrators unless both PCX,
on the one hand, and the Company, on the other hand, fail to appoint an
arbitrator within the specified time.

 

(f)            The arbitral tribunal shall decide
the matter as expeditiously as possible, however, no time limits shall be
imposed.  Awards, decisions and rulings
of the arbitral tribunal shall be in writing, and shall set forth the reasons
therefor and, to the extent applicable, the manner in which the amount of any damages
or other monetary recovery was calculated. 
The arbitral tribunal may apportion the costs (including the fees of
arbitrators, administrative fees and the parties’ attorneys’ fees and expenses)
among the parties in such manner as shall be determined by the arbitral
tribunal.  Any monetary award shall be
in U.S. dollars.  Any award, decision or
ruling of the arbitral tribunal shall be final and binding on the parties, and
judgment upon such award, decision or ruling may be entered in any court, state
or federal, having jurisdiction thereof.

 

(g)           Nothing in this Section 6.5 shall be
construed to preclude any party to this Agreement from seeking injunctive or
other relief in a court of law and/or equity to enforce its rights under
Section 4.7 or otherwise where absent such relief such party would suffer
irreparable harm.  To the fullest extent
permitted by applicable law, each party hereto consents specifically to the
exclusive jurisdiction of the Delaware Chancery Court (and any court to which
an appeal therefrom may be taken) for purposes of any action described in the
immediately preceding sentence.

 

6.6.          Binding Effect; Benefit.  This Agreement shall inure to the benefit of
and be binding upon PCX, PCX Equities and the Company and their respective
successors and permitted assigns. 
Nothing in this Agreement (other than

 

50

 

Section 4.4), expressed or implied, is intended to confer on any Person
other than PCX, PCX Equities and the Company and their respective successors
and permitted assigns, any rights, remedies, obligations or liabilities under
or by reason of this Agreement.

 

6.7.          Assignability.  (a) This Agreement shall not be transferable
or assignable, nor shall any obligations hereunder be delegable, by PCX or PCX
Equities, without the prior written consent of the Company.  Any such purported transfer, assignment or
delegation without the prior written consent of the Company shall be null and
void.  Neither PCX nor PCX Equities
shall consolidate with or merge into any other Person or convey, transfer or
lease its properties and assets substantially as an entirety to any Person, and
neither PCX nor PCX Equities shall permit any Person to consolidate with or
merge into PCX or PCX Equities or convey, transfer or lease its properties and
assets substantially as an entirety to PCX or PCX Equities, unless, in the case
PCX or PCX Equities shall consolidate with or merge into another Person or
convey, transfer or lease its properties and assets substantially as an
entirety to any Person, the Person formed by such consolidation or into which
PCX or PCX Equities is merged or the Person which acquires by conveyance or
transfer, or which leases, the properties and assets of PCX or PCX Equities
substantially as an entirety shall be a corporation, shall be organized or
formed and validly existing under the laws of the United States of America, any
State thereof or the District of Columbia and shall expressly assume in writing
in a form reasonably satisfactory to the Company, the performance or observance
of every covenant and other obligation or liability of PCX or PCX Equities, as
the case may be, under this Agreement and each of the Transaction-Related
Agreements and duly execute and deliver to the Company such other documents and
instruments as the Company may reasonably request.  Upon any consolidation of PCX or PCX Equities with, or the merger
of PCX or PCX Equities into, any other Person or any conveyance, transfer or
lease of the properties and assets of PCX or PCX Equities substantially as an
entirety in accordance with the immediately preceding sentence, the successor
Person formed by such consolidation or into which PCX or PCX Equities is merged
or to which such conveyance, transfer or lease is made shall succeed to, and be
substituted for, and shall assume all of the obligations and liabilities of,
PCX or PCX Equities, as the case may be, with the same effect as if such Person
had been named as PCX

 

51

 

or PCX Equities herein, provided that the foregoing shall not relieve
PCX or PCX Equities of its obligations hereunder.

 

(b)           Subject to the last sentence of this
Section 6.7(b), this Agreement shall not be transferable or assignable, nor
shall any obligations hereunder be delegable, by the Company without the prior
written consent of PCX, and any such purported transfer, assignment or
delegation without the prior written consent of PCX shall be null and
void.  The Company shall not consolidate
with or merge into any other Person or convey, transfer or lease its properties
and assets substantially as an entirety to any Person, and the Company shall
not permit any Person to consolidate with or merge into the Company or convey,
transfer or lease its properties and assets substantially as an entirety to the
Company, unless, in the case the Company shall consolidate with or merge into
another Person or convey, transfer or lease its properties and assets
substantially as an entirety to any Person, the Person formed by such
consolidation or into which the Company is merged or the Person which acquires
by conveyance or transfer, or which leases, the properties and assets of the
Company substantially as an entirety shall be a corporation or limited
liability company, shall be organized or formed and validly existing under the
laws of the United States of America, any State thereof or the District of
Columbia and shall expressly assume in writing in a form reasonably
satisfactory to PCX, the performance or observance of every covenant and other
obligation or liability of the Company, as the case may be, under this
Agreement and each of the Transaction-Related Agreements and duly execute and
deliver to PCX such other documents and instruments as PCX may reasonably
request.  Upon any consolidation of the
Company with, or the merger of the Company into, any other Person or any
conveyance, transfer or lease of the properties and assets of the Company
substantially as an entirety in accordance with the immediately preceding
sentence, the successor Person formed by such consolidation or into which the
Company is merged or to which such conveyance, transfer or lease is made shall
succeed to, and be substituted for, and shall assume all of the obligations and
liabilities of, the Company, as the case may be, with the same effect as if
such Person had been named as the Company herein, provided that the foregoing
shall not relieve the Company of its obligations hereunder.  Notwithstanding anything to the contrary in
this Section 6.7(b), the Company may assign its

 

52

 

rights and obligations hereunder to any of its subsidiaries, provided
that the provisions hereof shall be binding upon, inure to the benefit of and
be enforceable by and against the Company’s assigns and provided, further, that
any such assignment shall not relieve the Company of its obligations hereunder.

 

6.8.          Amendment; Waiver.  No provision of this Agreement may be
amended or otherwise modified except by an instrument in writing executed by
each of the parties hereto.  The
conditions to each of the parties’ obligations to consummate the transactions
contemplated hereby are for the sole benefit of such other parties, as the case
may be, and may be expressly waived in writing by such party in whole or in
part to the extent permitted by applicable Law but such waiver or failure to
insist upon strict compliance with such obligation shall not operate as a
waiver of, or estoppel with respect to, any subsequent failure.

 

6.9.          Severability.  Whenever possible, each provision of this
Agreement shall be interpreted in such manner as to be effective and valid
under applicable law, but if any provision of this Agreement is held to be
prohibited by or invalid under applicable law, such provision shall be
ineffective only to the extent of such prohibition or invalidity, without
invalidating the remainder of this Agreement. 
If a provision of this Agreement is held to be invalid and the rest of
this Agreement is not invalidated, each party shall use all reasonable efforts
to effect as far as practicable and valid under applicable law a new provision
to achieve the purpose of such invalidated provision.

 

6.10.        Expenses.  Without prejudice to its ability to recover
for any losses, damages or liabilities relating to any dispute, controversy or claim
arising out of or relating to this Agreement, each of PCX, PCX Equities and the
Company shall pay its own expenses in connection with this Agreement, the
Original Facility Services Agreement and any amendments, consents or waivers
(whether or not the same become effective) under or in respect of this
Agreement or the Original Facility Services Agreement.

 

6.11.        Further Assurances.  Each of PCX, PCX Equities and the Company
will use its reasonable best efforts to perform and fulfill all obligations on its
part to be performed and fulfilled under this Agreement, to the

 

53

 

end that the transactions contemplated by this Agreement shall be
effected substantially in accordance with its terms as soon as reasonably
practicable.  Each party hereto shall
execute, acknowledge, deliver, file, notarize and register at its own expense
all such further agreements, instruments, certificates, documents, information
and assurances and perform such acts as the other parties hereto shall
reasonably deem necessary or appropriate to effectuate the purposes of this
Agreement, and promptly provide the other parties hereto with evidence of the
foregoing reasonably satisfactory in form and substance to the other parties
hereto.  Each party hereto shall
cooperate in good faith with the other parties hereto and use its reasonable
efforts to support the other parties hereto in connection with the ongoing
operations of the Archipelago Exchange.

 

6.12.        Remedies.  Any Person having any rights under any
provision of this Agreement will be entitled to enforce such rights
specifically, to recover damages by reason of any breach of any provision of
this Agreement and to exercise all other rights granted by law.

 

6.13.        Survival.  The representations, warranties, covenants
and agreements of the parties hereto contained in this Agreement will survive
until the third anniversary of the date of the Commission’s approval of the
Revised Market Rules and shall thereafter terminate unless a valid claim for
indemnification is made prior to such termination; provided, however,
that the representations, warranties, covenants and agreements contained in (a)
Sections 1.1, 2.1, 2.2, 2.3, 2.4, 2.5, 2.6, 3.1, 3.2, 3.3, 3.4, 4.1, 4.2,
4.3(d), 4.3(g), 4.3(h), 4.3(i), 4.4, 4.7, 4.8, 4.9(b), 4.9(c), 4.10, 4.16,
4.17, 4.18, 5.1, 6.1 through 6.16 and the second sentence of Section 4.5 shall
survive without limitation, (b) the last two sentences of Section 4.5 shall
survive until the expiration of the applicable statute of limitations, and (c)
Sections 4.3(a), 4.3(b), 4.3(c), 4.3(e), 4.3(f), 4.6, 4.9(a), 4.11, 4.12, 4.13,
4.14 and 4.15 shall survive in accordance with their terms.  The covenants and agreements contained in
Sections 4.4, 4.7, 4.18, 6.1 through 6.7, 6.9, 6.10, 6.12, 6.14, 6.15, this
Section 6.13 and the last two sentences of Section 4.5 shall survive the
termination of this Agreement. 
Notwithstanding the first sentence of this Section 6.13, all other
representations, warranties, agreements and covenants in this Agreement shall
not survive the termination of this Agreement.

 

54

 

6.14.        Entire Agreement.  This Agreement (including the letter
agreement, dated as of July 12, 2000, as amended as of the date hereof, among
PCX, PCX Equities and the Company, which supplements and forms a part of this
Agreement) together with all Exhibits and Schedules to this Agreement, the
Transaction-Related Agreements and the Letter Agreement supersede all prior
agreements, understandings, representations and warranties both written and
oral among the parties with respect to the subject matter hereof and contain
the entire agreement among the parties with respect to such subject matter.

 

6.15.        Definition of “Subsidiary”.  When a reference is made in this Agreement
to a subsidiary of a party, the word “subsidiary” means any corporation or
other organization whether incorporated or unincorporated of which at least a
majority of the securities or interests having by the terms thereof ordinary
voting power to elect at least a majority of the board of directors or others
performing similar functions with respect to such corporation or other
organization is directly or indirectly owned or controlled by such party or by
any one or more of its subsidiaries, or by such party and one or more of its
subsidiaries.

 

6.16.        Force Majeure.  None of PCX, PCX Equities, the Company and
their respective subsidiaries shall be liable or deemed to be in default under
any provision of this Agreement for any delay or failure to perform under this
Agreement (except for obligations to make payments hereunder) resulting
directly or indirectly from any cause beyond the reasonable control of PCX, PCX
Equities, the Company or any of their respective subsidiaries, as the case may
be, including, without limitation, acts of God, war, fire, electrical failure,
explosion, earthquake, flood, elements, acts of public enemy, labor disputes,
strikes, lockouts, supply shortages, equipment failures, malfunctions of
software provided by third parties and other delays or failures caused by third
parties (including third party providers of services used in connection with
the performance of this Agreement).

 

55

 

In witness whereof, this
Agreement has been duly executed and delivered by the duly authorized officers
of the parties hereto as of the day and year first written above.

 

 

	
   

  	
  ARCHIPELAGO HOLDINGS,
  L.L.C.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Gerald D. Putnam

  
	
   

  	
   

  	
  Name: Gerald D. Putnam

  
	
   

  	
   

  	
  Title: Chairman and
  Chief Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  PACIFIC EXCHANGE, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Philip D. DeFeo

  
	
   

  	
   

  	
  Name: Philip D. DeFeo

  
	
   

  	
   

  	
  Title: Chairman &
  CEO

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  PCX EQUITIES, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Thomas E. Connaghan

  
	
   

  	
   

  	
  Name: Thomas E.
  Connaghan

  
	
   

  	
   

  	
  Title: President

  

 

56

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