Document:

jmba-ex1041_41.htm

EXHIBIT 10.41

JAMBA, INC.

 

AMENDED AND RESTATED

Executive Retention and Severance Plan

(Effective July 1, 2017)

 

 

 

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Table of Contents

 

	
 
	
 
	
 
	
 
	
 
	
 
	
Page

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
1.
	
 
	
Establishment and Purpose of Plan
	
 
	
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1.1
	
 
	
Establishment
	
 
	
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1.2
	
 
	
Purpose
	
 
	
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1.3
	
 
	
Plan Document and Summary Plan Description
	
 
	
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2.
	
 
	
Definitions and Construction
	
 
	
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2.1
	
 
	
Definitions
	
 
	
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2.2
	
 
	
Construction
	
 
	
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3.
	
 
	
Eligibility and Participation
	
 
	
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4.
	
 
	
 
	
 
	
Termination in the Absence of a Change in Control
	
 
	
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4.1
	
 
	
Involuntary Termination
	
 
	
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4.2
	
 
	
Other Terminations
	
 
	
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5.
	
 
	
Treatment of Equity Awards Upon a Change in Control
	
 
	
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5.1
	
 
	
Options
	
 
	
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5.2
	
 
	
Restricted Stock and Restricted Stock Units
	
 
	
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5.3
	
 
	
Other Equity Awards/Performance Awards
	
 
	
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6.
	
 
	
Termination Upon a Change in Control
	
 
	
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6.1
	
 
	
Accrued Obligations
	
 
	
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6.2
	
 
	
Severance Benefits
	
 
	
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7.
	
 
	
Certain Federal Tax Considerations
	
 
	
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7.1
	
 
	
Federal Excise Tax Under Section 4999 of the Code
	
 
	
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7.2
	
 
	
Compliance with Section 409A
	
 
	
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8.
	
 
	
Conflict in Benefits; Noncumulation of Benefits
	
 
	
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8.1
	
 
	
Effect of Plan
	
 
	
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8.2
	
 
	
Noncumulation of Benefits
	
 
	
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9.
	
 
	
Exclusive Remedy
	
 
	
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10.
	
 
	
Proprietary and Confidential Information
	
 
	
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11.
	
 
	
No Contract of Employment
	
 
	
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12.
	
 
	
Claims for Benefits
	
 
	
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12.1
	
 
	
ERISA Plan
	
 
	
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12.2
	
 
	
Application for Benefits
	
 
	
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12.3
	
 
	
Appeal of Denial of Claim
	
 
	
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13.
	
 
	
Successors and Assigns
	
 
	
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13.1
	
 
	
Successors of the Company
	
 
	
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Table of Contents

(continued)

 

	
 
	
 
	
13.2
	
 
	
Acknowledgment by Company
	
 
	
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13.3
	
 
	
Heirs and Representatives of Participant
	
 
	
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14.
	
 
	
Notices
	
 
	
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14.1
	
 
	
General
	
 
	
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14.2
	
 
	
Notice of Termination
	
 
	
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15.
	
 
	
Administration, Termination, and Amendment of Plan
	
 
	
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15.1
	
 
	
Administration
	
 
	
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15.2
	
 
	
Amendment and Termination of the Plan
	
 
	
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16.
	
 
	
Miscellaneous Provisions
	
 
	
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16.1
	
 
	
Unfunded Obligation
	
 
	
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16.2
	
 
	
Duty to Mitigate; Obligations of Company
	
 
	
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16.3
	
 
	
No Representations
	
 
	
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16.4
	
 
	
Waiver
	
 
	
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16.5
	
 
	
Choice of Law
	
 
	
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16.6
	
 
	
Validity
	
 
	
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16.7
	
 
	
Benefits Not Assignable
	
 
	
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16.8
	
 
	
Tax Withholding
	
 
	
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16.9
	
 
	
Consultation with Legal and Financial Advisors
	
 
	
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16.10
	
 
	
Further Assurances
	
 
	
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17.
	
 
	
Agreement
	
 
	
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JAMBA, INC.

AMENDED AND RESTATED

EXECUTIVE RETENTION AND SEVERANCE PLAN

(Effective July 1, 2017)

 

1.Establishment and Purpose of Plan

1.1Establishment.  The Jamba, Inc. Executive Retention and Severance Plan was initially established by the Compensation Committee of the Board of Directors of Jamba, Inc., effective July 25, 2013 (the “Effective Date) and is hereby amended and restated as the Amended and Restated Executive Retention and Severance Plan (the “Plan”), effective July 1, 2017.

1.2Purpose.  The Company draws upon the knowledge, experience and advice of its Executive Officers and Key Employees in order to manage its business for the benefit of the Company’s stockholders.  Due to the widespread awareness of the possibility of mergers, acquisitions and other strategic alliances in the Company’s industry, the topics of compensation and other employee benefits in the event of a Change in Control or other circumstances that may result in termination of employment are issues in competitive recruitment and retention efforts.  The Committee recognizes that such circumstances could lead to uncertainty regarding the consequences of such an event and could adversely affect the Company’s ability to attract, retain and motivate present and future Executive Officers and Key Employees.  Therefore, the Committee has determined that it is in the best interests of the Company and its stockholders to provide for the continued dedication of its Executive Officers and Key Employees notwithstanding the possibility or occurrence of a Change in Control or other circumstances that may result in termination of employment by establishing this Plan to provide Executive Officers and Key Employees with enhanced financial security in the event of a Change in Control or termination of employment.  The purpose of this Plan is to provide its Participants with specified compensation and benefits in the event of a termination of employment under circumstances specified herein (including in connection with a Change in Control).  The Company intends that the Plan comply with all applicable requirements of Section 409A (as defined below), and the Plan shall be so construed.  In addition, the Plan is intended to replace such compensation and benefits which may be provided to its Executive Officers and Key Employees pursuant to their existing employment agreements (if any), and participation in this Plan is expressly made contingent on the waiver of such compensation and benefits by the individual Executive Officer or Key Employee.  

1.3Plan Document and Summary Plan Description.  This document is intended to serve as both the Plan document for the Plan, and the Plan’s Summary Plan Description.

2.Definitions and Construction

2.1Definitions.  Whenever used in this Plan, the following terms shall have the meanings set forth below:

(a)“Base Salary Rate” means the annual base salary rate in effect immediately prior to any termination of employment (without giving effect to any reduction in the Participant’s base salary rate constituting Good Reason).  For this purpose, base salary does not include any bonuses, commissions, fringe benefits, car allowances, other irregular payments or any other compensation except base salary.

(b)“Board” means the Board of Directors of the Company.

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(c)“Cause” means, except as otherwise set forth in a Participant’s Participation Agreement, any of the following: (i) the Participant’s theft, dishonesty, willful misconduct, breach of fiduciary duty for personal profit, or falsification of any member of the Company Group’s documents or records; (ii) the Participant’s material failure to abide by a member of the Company Group’s code of conduct or other policies (including, without limitation, policies relating to confidentiality and reasonable workplace conduct); (iii) the Participant’s unauthorized use, misappropriation, destruction, or diversion of any tangible or intangible asset or corporate opportunity of a member of the Company Group (including, without limitation, the Participant’s improper use or disclosure of a member of the Company Group’s confidential or proprietary information); (iv) any intentional act by the Participant which has a material detrimental effect on a member of the Company Group’s reputation or business; (v) the Participant’s repeated failure or inability to perform any reasonable assigned duties after written notice from the Committee of, and a reasonable opportunity to cure, such failure or inability; (vi) any material breach by the Participant of any employment, service, non-disclosure, non-competition, non-solicitation or other similar agreement between the Participant and a member of the Company Group, which breach is not cured pursuant to the terms of such agreement; or (vii) the Participant’s conviction (including any plea of guilty or nolo contendere) of any criminal act involving fraud, dishonesty, misappropriation, or moral turpitude, or which impairs the Participant’s ability to perform his or her duties.

(d)“Change in Control” means, except as otherwise set forth in a Participant’s Participation Agreement, the occurrence of any one or a combination of the following:

(i)any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) becomes the “beneficial owner” (as such term is defined in Rule 13d‐3 under the Exchange Act), directly or indirectly, of securities of the Company representing more than fifty percent (50%) of the total fair market value or total combined voting power of the Company’s then‐outstanding securities entitled to vote generally in the election of Directors; provided, however, that a Change in Control shall not be deemed to have occurred if such degree of beneficial ownership results from any of the following: (A) an acquisition by any person who on the Effective Date is the beneficial owner of more than fifty percent (50%) of such voting power, (B) any acquisition directly from the Company, including, without limitation, pursuant to or in connection with a public offering of securities, (C) any acquisition by the Company, (D) any acquisition by a trustee or other fiduciary under an employee benefit plan of a member of the Company Group, or (E) any acquisition by an entity owned directly or indirectly by the stockholders of the Company in substantially the same proportions as their ownership of the voting securities of the Company; or

(ii)an Ownership Change Event or series of related Ownership Change Events (collectively, a “Transaction”) in which the stockholders of the Company immediately before the Transaction do not retain immediately after the Transaction direct or indirect beneficial ownership of more than fifty percent (50%) of the total combined voting power of the outstanding securities entitled to vote generally in the election of Directors or, in the case of an Ownership Change Event described in Section 2.1(s)(iii), the entity to which the assets of the Company were transferred (the “Transferee”), as the case may be; or

(iii)approval by the stockholders of a plan of complete liquidation or dissolution of the Company.

(e)“Change in Control Period” means, except as otherwise set forth in a Participant’s Participation Agreement, the period commencing on the date a Change in Control is consummated and ending eighteen (18) months following the date of such consummation of the Change in Control.

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(f)“COBRA” means the group health plan continuation coverage provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985 and any applicable regulations promulgated thereunder.

(g)“Code” means the Internal Revenue Code of 1986, as amended, or any successor thereto and any applicable regulations promulgated thereunder.

(h)“Committee” means the Compensation Committee of the Board.

(i)“Company” means Jamba, Inc., a Delaware corporation, and, following a Change in Control, a Successor that agrees to assume all of the rights and obligations of the Company under this Plan or a Successor which otherwise becomes bound by operation of law under this Plan.

(j)“Company Group” means the group consisting of the Company and each present or future parent and subsidiary corporation or other business entity thereof.

(k)“Current Period Bonus” means any incentive bonus that might be earned by the Participant under the terms of the program, plan, or agreement providing for such bonus in which the Participant is participating for the Company’s performance period in which the Participant’s employment terminates.  For this purpose, an incentive bonus shall not include a signing bonus or other nonrecurring cash incentive award.  The determination of the amount, if any, of a Current Period Bonus which is based on performance measures shall only be determined after the end of the applicable performance period in accordance with the terms of the program, plan, or agreement providing for such bonus.

(l)“Director” means a member of the Board.

(m)“Exchange Act” means the Securities Exchange Act of 1934, as amended.

(n)“Executive Officer” means an individual employed by the Company as a Senior Vice President or Executive Vice President and serving in such capacity both upon becoming a Participant (unless then serving as a Key Employee) and immediately prior to the first to occur of (i) a condition constituting Good Reason with respect to such individual, (ii) such individual’s termination of employment with the Company Group, or (iii) the consummation of a Change in Control.

(o)“Good Reason” means, except as otherwise set forth in a Participant’s Participation Agreement, termination of employment within thirty (30) days after the occurrence of one or more of the following circumstances:  (i) material reduction in the Participant’s Base Salary Rate, unless the reduction is made as part of, and is generally consistent with, a general reduction of senior executive salaries; (ii) a change in the Participant’s position and/or duties which constitutes a material diminution of the Participant’s position and/or duties so that the Participant’s duties are no longer consistent with the position held by the Participant prior to such change; or (iii) the relocation of the Participant’s principal place of work to a location more than sixty (60) miles from the Participant’s principal place of work prior to such relocation without the Participant’s prior written approval; provided, however, in all cases that the Company has been provided with written notice of the circumstances giving rise to such potential termination and twenty (20) days from receipt of written notice in which to cure such circumstance.

(p)“Involuntary Termination” means the occurrence of either of the following events:

(i)termination by the Company Group of the Participant’s employment for any reason other than Cause; or

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(ii)the Participant’s resignation for Good Reason from employment with the Company Group;

provided, however, that Involuntary Termination shall not include any termination of the Participant’s employment which is (A) for Cause, (B) a result of the Participant’s death or Permanent Disability, or (C) a result of the Participant’s voluntary termination of employment other than for Good Reason.

(q)“Key Employee” means an individual, other than an Executive Officer, who has been designated by the Committee as eligible to participate in the Plan.

(r)“Option” means any option to purchase shares of the capital stock of the Company or of any other member of the Company Group granted to a Participant by the Company or any other Company Group member, on or after the Effective Date, and prior to a Change in Control, including any such option which is assumed by, or for which a replacement option is substituted by, the Successor or any other member of the Company Group in connection with the Change in Control.

(s)“Ownership Change Event” means the occurrence of any of the following with respect to the Company:  (i) the direct or indirect sale or exchange in a single or series of related transactions by the stockholders of the Company of securities of the Company representing more than fifty percent (50%) of the total combined voting power of the Company’s then outstanding securities entitled to vote generally in the election of Directors; (ii) a merger or consolidation in which the Company is a party; or (iii) the sale, exchange, or transfer of all or substantially all of the assets of the Company (other than a sale, exchange or transfer to one or more subsidiaries of the Company).

(t)“Participant” means (i) each Executive Officer and (ii) each Key Employee designated by the Committee to participate in the Plan, provided in either case that such individual has executed a Participation Agreement.

(u)“Participation Agreement” means an Agreement to Participate in this Plan in the form attached hereto as Exhibit A or in such other form as the Committee may approve from time to time; provided, however, that, after a Participation Agreement has been entered into between a Participant and the Company, it may be modified only by a supplemental written agreement executed by both the Participant and the Company.  The terms of such forms of Participation Agreement need not be identical with respect to each Participant.  For example, a Participation Agreement may limit the duration of a Participant’s participation in the Plan or may modify the definition of “Cause,” “Change in Control,” and/or “Good Reason” with respect to a Participant.  In addition, the compensation and benefits payable upon an Involuntary Termination may differ from Participant to Participant and from the default provisions set forth in this Plan.

(v)“Permanent Disability” means, if the Participant is provided disability insurance or benefits through the Company Group, the meaning set forth in such policy and/or plan regarding eligibility for long-term disability, otherwise “Permanent Disability” means the Participant’s incapacity due to bodily injury or disease which prevents the Participant from engaging in the full-time performance of the Participant’s duties for a period of six (6) consecutive months or longer.

(w)“Prior Period Bonus” means the aggregate of all incentive bonuses earned by the Participant under the terms of the programs, plans or agreements providing for such bonuses for the Company’s performance period immediately preceding the performance period in which the Participant’s employment terminates.  For this purpose, a Prior Period Bonus shall not include a signing bonus or other nonrecurring cash incentive award.

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(x)“Release” means a full general release in favor of the Company and any of its affiliate, stockholder, Director, officer, employee, agent, successor and/or assigns releasing all claims, known or unknown in a form acceptable to the Company.

(y)“Restricted Stock” means any compensatory award of shares of the capital stock of the Company or of any other member of the Company Group granted to a Participant by the Company or any other Company Group member on or after the Effective Date and prior to a Change in Control, including any shares issued in exchange for any such shares by a Successor or any other member of the Company Group in connection with a Change in Control.

(z)“Restricted Stock Units” means any compensatory award of rights to receive shares of the capital stock or cash in an amount measured by the value of shares of the capital stock of the Company or of any other member of the Company Group granted to a Participant by the Company or any other Company Group member on or after the Effective Date  prior to a Change in Control, including any such rights issued in exchange for any such rights by a Successor or any other member of the Company Group in connection with a Change in Control.

(aa)“Section 409A” means Section 409A of the Code and any applicable regulations (including proposed or temporary regulations) and other administrative guidance promulgated thereunder.

(bb)“Section 409A Deferred Compensation” means compensation and benefits provided by the Plan that constitute deferred compensation subject to and not exempted from the requirements of Section 409A.

(cc)“Separation from Service” means a separation from service within the meaning of Section 409A.

(dd)“Severance Benefit Period” means, except as otherwise provided in a Participant’s Participation Agreement, a period of twelve (12) months.

(ee)“Specified Employee” means a specified employee within the meaning of Section 409A.

(ff)“Successor” means any successor in interest to substantially all of the business and/or assets of the Company.

(gg)“Target Bonus” means the aggregate of all annual or semi-annual incentive bonuses (excluding signing bonuses or other nonrecurring cash incentive awards) that would be earned by the Participant for the fiscal year of the Participant’s Involuntary Termination at the targeted rate (assuming attainment of 100% of all applicable performance goals) under the terms of the programs, plans or agreements providing for such bonuses in which the Participant was participating immediately prior to such termination of employment.

(hh)“Termination in the Absence of a Change in Control” means any termination of the Participant’s employment with the Company Group which is not a Termination Upon a Change in Control.

(ii)“Termination Upon a Change in Control” means the occurrence of any of the following events:

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(i)termination by the Company Group of the Participant’s employment for any reason other than Cause during a Change in Control Period; or

(ii)the Participant’s resignation for Good Reason from employment with the Company Group during a Change in Control Period;

provided, however, that Termination Upon a Change in Control shall not include any termination of the Participant’s employment which is (A) for Cause, (B) a result of the Participant’s death or Permanent Disability, or (C) a result of the Participant’s voluntary termination of employment other than for Good Reason.

2.2Construction.  Captions and titles contained herein are for convenience only and shall not affect the meaning or interpretation of any provision of the Plan.  Except when otherwise indicated by the context, the singular shall include the plural and the plural shall include the singular.  Use of the term “or” is not intended to be exclusive, unless the context clearly requires otherwise.

3.Eligibility and Participation

Each Executive Officer shall be eligible to become a Participant in the Plan.  The Committee shall designate those Key Employees who shall be eligible to become Participants in the Plan.  To become a Participant, an Executive Officer or eligible Key Employee must execute a Participation Agreement.

4.Termination in the Absence of a Change in Control.

In the event of a Participant’s Termination in the Absence of a Change in Control, the Participant shall be entitled to receive the applicable compensation and benefits described in this Section 4.  The provision, time and manner of payment or distribution of all such compensation and benefits that constitute Section 409A Deferred Compensation shall be subject to, limited by, and construed in accordance with the requirements of Section 409A, including the provisions of Section 7.2 below.

4.1Involuntary Termination.  If the Participant’s Termination in the Absence of a Change in Control constitutes an Involuntary Termination, the Participant shall be entitled to receive:

(a)Accrued Obligations.

(i)all salary, commissions and accrued but unused vacation earned through the date of the Participant’s termination of employment;

(ii)reimbursement within ten (10) business days of submission, within three (3) months following the Participant’s termination of employment, of proper expense reports of all expenses reasonably and necessarily incurred by the Participant in connection with the business of the Company Group prior to his or her termination of employment; and

(iii)the benefits, if any, under any Company Group retirement plan, nonqualified deferred compensation plan, Option, Restricted Stock, Restricted Stock Unit, stock purchase or other stock-based compensation plan or agreement, health benefits plan or other Company Group benefit plan to which the Participant may be entitled pursuant to the terms of such plans or agreements;

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provided, however, that the Participant shall not be entitled to receive any Prior Period Bonus or Current Period Bonus or any portion(s) thereof which, as of the date of the Participant’s Involuntary Termination, remain unpaid and for which payment has not been earned by such Participant under the terms of the program, plan, or agreement providing for such bonus, except as provided in accordance with Sections 4.1(b)(1) and 4.1(b)(2), below.

(b)Severance Benefits.  Provided that within sixty (60) days following the Participant’s Involuntary Termination, the Participant (i) executes and does not revoke the Release applicable to such Participant, and (ii)  complies during the Severance Benefit Period commencing on the date of the Participant’s termination with such other restrictive covenants provided in this Plan, and any other written employment or severance agreement between the Company Group and the Participant, the Participant shall be entitled to receive the following severance payments and benefits, as applicable.  For purposes of this Plan, the restrictive covenants placed on a Participant as a condition to the receipt of severance benefits include the requirements that, during such Severance Benefit Period, the Participant agrees that he or she will not recruit, directly or indirectly, any employee of the Company Group for employment or other services with any other company, organization, or operation, unless the Participants obtains prior written approval from the Committee (which authority may be delegated to the Company’s Chief Executive Officer), and further agrees not to make any voluntary statements, written or oral, or cause or encourage others to make such statements that defame, disparage, or in any way criticize the personal and/or business reputations, practices, or conduct of the Company.

(1)Prior Period Bonus.  A Participant who entered into an initial Participation Agreement before July 1, 2017 shall be entitled to receive any Prior Period Bonus or portion thereof which the Committee determines has been earned by the Participant as of the date of the Participant’s termination of employment under the terms of the programs, plans, or agreements providing for such bonus, but which remains unpaid as of the termination date.  Any such earned Prior Period Bonus shall be paid in accordance with the normal timing rules for the payment of such bonuses pursuant to the terms of the program, plan, or agreement providing for such bonus.  The benefit provided by this Section 4.1(b)(1) shall not be available to a Participant who entered into an initial Participation Agreement on or after July 1, 2017.

(2)Current Period Bonus.  A Participant who entered into an initial Participation Agreement before July 1, 2017 shall be paid an amount with respect to his or her Current Period Bonus only if the criteria for payment of the Current Period Bonus (other than  those related to continuous service requirements through the date on which such amounts are earned or paid) are satisfied.  The amount of this payment shall equal the amount the Participant would otherwise have received (based on the actual performance of the Company and/or other factors set forth in the program, plan or agreement governing the Current Period Bonus) had he or she remained a service provider to the Company Group through the payment date for such Current Period Bonus multiplied by a fraction, the numerator of which is the number of calendar days during the performance period for the Current Period Bonus that the Participant was a service provider to the Company Group, and the denominator of which is the number of calendar days in such performance period.  This amount shall be paid at the same time other active employees receive similar annual bonuses for such fiscal year pursuant to the terms of the program, plan, or agreement providing for such bonus.  The benefit provided by this Section 4.1(b)(2) shall not be available to a Participant who entered into an initial Participation Agreement on or after July 1, 2017.

(3)Cash Severance Payments.  In addition to the foregoing, a Participant who was an Executive Vice President immediately prior to termination, shall be entitled to receive a cash severance payment in an amount equal to one hundred twenty-five percent (125%) of the Participant’s Base Salary Rate.  Except as otherwise provided in a Participant’s Participation Agreement, for all other 

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Participants the amount determined pursuant to the preceding sentence shall be based on one hundred percent (100%) of such a Participant’s Base Salary Rate.  The amount determined in accordance with this subsection shall be apportioned and paid (less applicable tax withholding) in approximately equal installments commencing on the first regular payday of the Company following the last to occur of (i) the Participant’s termination of employment, and (ii) the date on which the Release becomes effective and non-revocable in accordance with its terms and continuing on each successive regular paydays during the remainder of the Severance Benefit Period applicable to the Participant.  Notwithstanding the foregoing, to the extent that this cash severance payment constitutes Section 409A Deferred Compensation, then the installments shall be subject to Section 7.2(e).  In addition, this cash severance payment shall be subject to the mitigation provisions of Section 16.2

(4)Health Benefits.  For the period commencing immediately following the Participant’s termination of employment and continuing for the duration of the Severance Benefit Period applicable to the Participant, the Company shall arrange to provide the Participant and his or her dependents with health benefits (including medical and dental) substantially similar to those provided to the Participant and his or her dependents immediately prior to the date of such termination of employment.  Such benefits shall be provided to the Participant at the same premium cost to the Participant and at the same coverage level as in effect as of the Participant’s termination of employment; provided, however, that the Participant shall be subject to any change in the premium cost and/or level of coverage applicable generally to all employees holding the position or comparable position with the Company Group which the Participant held immediately prior to termination of employment.  The Company may satisfy its obligation to provide a continuation of health benefits by paying that portion of the Participant’s premiums required under COBRA that exceed the amount of premiums that the Participant would have been required to pay for continuing coverage had he or she continued in employment.  If the Company is not reasonably able to continue such coverage under the Company’s health benefit plans, the Company shall provide substantially equivalent coverage under other sources or will reimburse (without a tax gross-up) the Participant for premiums (in excess of the Participant’s premium cost described above) incurred by the Participant to obtain his or her own such coverage.  If the Participant and/or the Participant’s dependents become eligible to receive such coverage under another employer’s health benefit plans during the applicable Severance Benefit Period, the Participant shall report such eligibility to the Company, and the Company’s obligations under this subsection shall cease.  For the balance of any period in excess of the applicable Severance Benefit Period during which the Participant is entitled to continuation coverage under COBRA, the Participant shall be entitled to maintain coverage for himself or herself and the Participant’s eligible dependents at the Participant’s own expense.  In addition, notwithstanding the foregoing, if the Company determines, in its sole discretion, that the payment of the COBRA premiums would result in a violation of the nondiscrimination rules of Section 105(h)(2) of the Code or any statute or regulation of similar effect (including but not limited to the 2010 Patient Protection and Affordable Care Act, as amended by the 2010 Health Care and Education Reconciliation Act), then in lieu of providing the COBRA premiums, the Company, in its sole discretion, may elect instead to pay the Participant on the first day of each month of the Severance Benefit Period, a fully taxable cash payment equal to the COBRA premiums for that month, subject to applicable tax withholdings (such amount, the “Special Severance Payment”), for the remainder of the COBRA payment period.  The Participant may, but is not obligated to, use such Special Severance Payment toward the payment of COBRA premiums.

4.2Other Terminations.  If the Participant’s Termination in the Absence of a Change in Control results from any reason other than an Involuntary Termination, the Participant shall be entitled to receive:

(a)all salary, commissions and accrued but unused vacation earned through the date of the Participant’s termination of employment;

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(b)reimbursement within ten (10) business days of submission, within three (3) months following the Participant’s termination of employment, of proper expense reports of all expenses reasonably and necessarily incurred by the Participant in connection with the business of the Company Group prior to his or her termination of employment; and

(c)the benefits, if any, under any Company Group retirement plan, nonqualified deferred compensation plan, Option, Restricted Stock, Restricted Stock Unit, stock purchase or other stock-based compensation plan or agreement, health benefits plan or other Company Group benefit plan to which the Participant may be entitled pursuant to the terms of such plans or agreements;

provided, however, that the Participant shall not be entitled to receive any Prior Period Bonus, Current Period Bonus or any portion(s) thereof which, as of the date of the Participant’s termination from employment, remain unpaid and for which the final payment date has not yet occurred under the terms of the program, plan, or agreement providing for such bonus.

5.Treatment of Equity Awards Upon a Change in Control

5.1Options.  Notwithstanding any provision to the contrary contained in any plan or agreement evidencing an Option held by a Participant, in the event of a Change in Control in which the surviving, continuing, successor, or purchasing corporation or other business entity or parent thereof, as the case may be (the “Acquiror”), does not assume the Company’s rights and obligations under the then-outstanding Options held by the Participant or substitute for such Options substantially equivalent options for the Acquiror’s stock, then the vesting and exercisability of each such Option shall be accelerated in full effective immediately prior to, but conditioned upon the consummation of the Change in Control, provided that, except as otherwise set forth in Section 6 below, the Participant remains an employee or other service provider with the Company Group immediately prior to the Change in Control.

5.2Restricted Stock and Restricted Stock Units.  Notwithstanding any provision to the contrary contained in any plan or agreement evidencing Restricted Stock or Restricted Stock Units held by a Participant, such Restricted Stock and Restricted Stock Units shall vest in full upon the consummation of a Change in Control to the extent that the Restricted Stock Units are not assumed or otherwise substituted for by the Acquiror, provided that, except as otherwise set forth in Section 6 below, the Participant remains an employee or other service provider with the Company Group immediately prior to the Change in Control.

5.3Other Equity Awards/Performance Awards.  Except as set forth in Sections 5.1 and 5.2 above, the treatment of stock-based compensation upon the consummation of a Change in Control shall be determined in accordance with the terms of the plans or agreements providing for such awards.  In addition, any award of Options, Restricted Stock, or Restricted Stock Units, the value or vesting of which is determined based on attainment of performance metrics, such awards shall be governed by the terms of the award and not this Section 5.

The provisions of this Section 5 with respect to all amounts that constitute Section 409A Deferred Compensation shall be subject to, limited by, and construed in accordance with the requirements of Section 409A, including the provisions of Section 7.2 below.

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6.Termination Upon a Change in Control

In the event of a Participant’s Termination Upon a Change in Control, the Participant shall be entitled to receive the compensation and benefits described in this Section 6.  The provision, time and manner of payment or distribution of all such compensation and benefits that constitute Section 409A Deferred Compensation shall be subject to, limited by and construed in accordance with the requirements of Section 409A, including the provisions of Section 7.2 (f) below.

6.1Accrued Obligations.  The Participant shall be entitled to receive:

(a)all salary, commissions and accrued but unused vacation earned through the date of the Participant’s termination of employment;

(b)reimbursement within ten (10) business days of submission, within three (3) months following the Participant’s termination of employment, of proper expense reports of all expenses reasonably and necessarily incurred by the Participant in connection with the business of the Company Group prior to his or her termination of employment; and

(c)the benefits, if any, under any Company Group retirement plan, nonqualified deferred compensation plan, stock purchase or other stock-based compensation plan or agreement (other than any such plan or agreement pertaining to Options, Restricted Stock or Restricted Stock Units or other stock-based compensation whose treatment is prescribed by Section 6.2(e) below), health benefits plan or other Company Group benefit plan to which the Participant may be entitled pursuant to the terms of such plans or agreements.

6.2Severance Benefits.  Provided that within sixty (60) days following the Participant’s Involuntary Termination, the Participant (i) executes and does not revoke the Release applicable to such Participant, and (ii)  complies with such other restrictive covenants provided in Section 4.1(b) of this Plan, and any other written employment or service agreement between the Company Group and the Participant for the Severance Benefit Period the Participant shall be entitled to receive the following severance payments and benefits:

(a)Prior Period Bonus.  The Participant shall be entitled to receive any Prior Period Bonus or portion thereof which the Committee determines has been earned by the Participant as of the date of the Participant’s termination of employment under the terms of the program, plan or agreement providing for such bonus, but which remains unpaid as of such date.  Any such earned Prior Period Bonus shall be paid in accordance with the normal timing rules for the payment of such bonuses pursuant to the terms of the program, plan, or agreement providing for such bonus.

(b)Cash Severance Payment.  Subject to Section 7.2, within ten (10) business days following the last to occur of (i) the Participant’s termination of employment, and (ii) the date on which the Release becomes effective and non-revocable in accordance with its terms, the Company shall pay to the Participant who was an Executive Vice President immediately prior to termination in a lump sum cash payment an amount equal to the sum of (A) one hundred twenty-five percent (125%) of the Participant’s Base Salary Rate; and (B) the Participant’s Target Bonus.  Except as otherwise provided in a Participant’s Participation Agreement, for all other Participants the amount determined pursuant to Section 6.2(b) shall be based on one hundred percent (100%) of such a Participant’s Base Salary Rate.

(c)Health Benefits.  For the period commencing immediately following the Participant’s termination of employment and continuing for the duration of the Severance Benefit Period applicable to the Participant, the Company shall arrange to provide the Participant and his or her 

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dependents with health benefits (including medical and dental), substantially similar to those provided to the Participant and his or her dependents immediately prior to the date of such termination of employment.  Such health benefits shall be provided to the Participant at the same premium cost to the Participant and at the same coverage level as in effect as of the Participant’s termination of employment; provided, however, that the Participant shall be subject to any change in the premium cost and/or level of coverage applicable generally to all employees holding the position or comparable position with the Company which the Participant held immediately prior to the Change in Control.  The Company may satisfy its obligation to provide a continuation of health benefits by paying that portion of the Participant’s premiums required under COBRA that exceed the amount of premiums that the Participant would have been required to pay for continuing coverage had he or she continued in employment.  If the Company is not reasonably able to continue such coverage under the Company’s health benefit plans, the Company shall provide substantially equivalent coverage under other sources or will reimburse (without a tax gross-up) the Participant for premiums (in excess of the Participant’s premium cost described above) incurred by the Participant to obtain his or her own such coverage.  If the Participant and/or the Participant’s dependents become eligible to receive any such coverage under another employer’s health benefit plans during the applicable Severance Benefit Period, the Participant shall report such eligibility to the Company, and the Company’s obligations under this subsection shall cease.  For the balance of any period in excess of the applicable Severance Benefit Period during which the Participant is entitled to continuation coverage under COBRA, the Participant shall be entitled to maintain coverage for himself or herself and the Participant’s eligible dependents at the Participant’s own expense.  In addition, notwithstanding the foregoing, if the Company determines, in its sole discretion, that the payment of the COBRA premiums would result in a violation of the nondiscrimination rules of Section 105(h)(2) of the Code or any statute or regulation of similar effect (including but not limited to the 2010 Patient Protection and Affordable Care Act, as amended by the 2010 Health Care and Education Reconciliation Act), then in lieu of providing the COBRA premiums, the Company, in its sole discretion, may elect instead to pay the Participant on the first day of each month of the Severance Benefit Period, a Special Severance Payment for the remainder of the COBRA payment period.  The Participant may, but is not obligated to, use such Special Severance Payment toward the payment of COBRA premiums.

(d)Acceleration of Vesting of Options, Restricted Stock, Restricted Stock Units and Other Stock-Based Compensation.  Notwithstanding any provision to the contrary contained in any agreement evidencing an Option, Restricted Stock, Restricted Stock Units or other stock-based compensation award granted after the Effective Date, the vesting and/or exercisability of each of the Participant’s outstanding Options, Restricted Stock, Restricted Stock Units and other stock-based compensation awards which was not otherwise accelerated pursuant to Section 5 shall be accelerated in full effective as of the date of the Participant’s termination of employment so that each such Option, share of Restricted Stock, Restricted Stock Unit and other stock-based compensation award held by the Participant shall be immediately exercisable and/or fully vested as of such date; provided, however, that such acceleration of vesting and/or exercisability shall not apply to any stock-based compensation award where such acceleration would result in plan disqualification or would otherwise be contrary to applicable law (e.g., an employee stock purchase plan intended to qualify under Section 423 of the Code).  In addition, to the extent that the vesting of any Restricted Stock, Restricted Stock Units and/or other stock-based compensation award is based on the achievement of performance metrics, the vesting of such awards shall be determined based on the terms of such awards and not this Section 6.2(d).

7.Certain Federal Tax Considerations

7.1Federal Excise Tax Under Section 4999 of the Code

(a)Treatment of Excess Parachute Payments.  In the event that any payment or benefit received or to be received by a Participant pursuant to this Plan or otherwise payable to the Participant (collectively, the “Payments”) would subject the Participant to any excise tax pursuant to Section 4999 of the Code, or any similar or successor provision (the “Excise Tax”), due to the 

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characterization of the Payments as “excess parachute payments” under Section 280G of the Code or any similar or successor provision (“Section 280G”), then, notwithstanding the other provisions of this Plan, the amount of the Payments shall not exceed the amount which produces the greatest after-tax benefit to the Participant.

(b)Determination of Amounts.

(1)Determination by Accountants.  All computations and determinations called for by this Section 7.1 shall be promptly determined and reported in writing to the Company and the Participant by independent public accountants selected by the Company and reasonably acceptable to the Participant (the “Accountants”), and all such computations and determinations shall be conclusive and binding upon the Participant and the Company.  For purposes of such determinations, the Accountants may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of the Code.  The Company and the Participant shall furnish to the Accountants such information and documents as the Accountants may reasonably request in order to make their required determinations.  The Company shall bear all fees and expenses charged by the Accountants in connection with such services.

(2)Order of Reduction.  If a reduction in the Payments is necessary so that the Payments do not result in the imposition of an Excise Tax, and none of the Payments are Section 409A Deferred Compensation, then the reduction shall occur in the manner elected by the Participant in writing prior to the date of payment in accordance with such procedures as the Company may establish for this purpose.  If any Payment constitutes Section 409A Deferred Compensation or if the Participant fails to elect an order, then the order of the reduction of the Payments will be (i) first by reducing cash payments, (ii) second by the reduction of equity awards which are valued in full for purposes of Section 280G, (iii) third equity awards which are valued based on their value of acceleration, and (iv) all other benefits, all in the inverse order of when payment or benefit in each category would have been made to the Participant, with such reductions in each category coming first from those that constitute Section 409A Deferred Compensation, and the remainder from other amounts, until the reduction is achieved.

7.2Compliance with Section 409A.  Notwithstanding any other provision of the Plan to the contrary, the provision, time and manner of payment or distribution of all compensation and benefits provided by the Plan that constitute Section 409A Deferred Compensation shall be subject to, limited by and construed in accordance with the requirements of Section 409A, including the following:

(a)Separation from Service.  To the extent required to avoid the imposition of additional taxes and penalties under Section 409A, payments and benefits otherwise payable or provided pursuant this Plan upon a Participant’s termination of employment shall be paid or provided only at the time of a termination of Participant’s employment which constitutes a Separation from Service.

(b)Six-Month Delay Applicable to Specified Employees.  Payments and benefits constituting Section 409A Deferred Compensation to be paid or provided pursuant to this Plan upon the Separation from Service of a Participant who is a Specified Employee shall be paid or provided commencing on the later of (1) the date that is six (6) months after the date of such Separation from Service or, if earlier, the date of death of the Participant (in either case, the “Delayed Payment Date”), or (2) the date or dates on which such Section 409A Deferred Compensation would otherwise be paid or provided in accordance with this Plan.  All such amounts that would, but for this Section 7.2(b), become payable prior to the Delayed Payment Date shall be accumulated and paid on the Delayed Payment Date.

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(c)Heath Benefits.  In the event that all or any of the health benefits to be provided pursuant to Section 4.1(b)(4) or Section 6.2(c) as a result of a Participant’s Separation from Service constitute Section 409A Deferred Compensation, the Company shall provide for such health benefits constituting Section 409A Deferred Compensation in a manner that complies with Section 409A.  To the extent necessary to comply with Section 409A, the Company shall determine the premium cost (net of the portion of such premium cost required to be paid by the Participant pursuant to applicable provision of the Plan) necessary to provide such benefits constituting Section 409A Deferred Compensation for the applicable Severance Benefit Period and shall pay each such net premium cost which becomes due and payable during the applicable Severance Benefit Period on the applicable due date for such premium; provided, however, that if the Participant is a Specified Employee, the Company shall not pay any such net premium cost until the Delayed Payment Date.  If the Company’s payment pursuant to the previous sentence is subject to a Delayed Payment Date, the Participant shall pay the net premium cost otherwise payable by the Company prior to the Delayed Payment Date, and on the Delayed Payment Date the Company shall reimburse the Participant for such Company net premium cost paid by the Participant and shall pay the balance of the Company’s net premium cost necessary to provide such benefit coverage for the remainder of the applicable Severance Benefit Period as and when it becomes due and payable over the applicable period.

(d)Restricted Stock Units and Other Stock-Based Awards.  The vesting of any Restricted Stock Units or other stock-based compensation awards which constitute Section 409A Deferred Compensation and are held by a Participant who is a Specified Employee shall be accelerated in accordance with Section 6.2(d) to the extent applicable; provided, however, that the payment in settlement of any such awards shall occur on the Delayed Payment Date.  Restricted Stock Units and other stock-based compensation which vests and becomes payable upon a Change in Control in accordance with Section 5.2 shall not be subject to this Section 7.2(d).

(e)Payment Commencement Date.  Notwithstanding anything in this Plan to the contrary, to the extent any payment or benefit which constitutes Section 409A Deferred Compensation is contingent upon the execution and non-revocation of a Release, then such payment or benefit shall not commence until the later of (i) the first payroll date occurring on or after the sixtieth (60th) day following the Participant’s Separation from Services, and (ii) the set payment date otherwise established for commencing the payments and/or benefits.

(f)Payment Upon Change in Control.  Notwithstanding any provision of the Plan to the contrary, to the extent that any amount constituting Section 409A Deferred Compensation would become payable in a lump sum under this Plan by reason of a Change in Control, such amount shall become payable in a lump sum only if the event constituting a Change in Control would also constitute a change in ownership or effective control of the Company or a change in the ownership of a substantial portion of the assets of the Company within the meaning of Section 409A (a “409A Change in Control”).  Any payment or benefit which constitutes Section 409A Deferred Compensation and which would otherwise be payable in a lump sum upon a Change in Control that does not qualify shall be paid, in the case of cash severance payments, based on the time and forms prescribed by Sections 4.1(b)(3) and 7.2(e), and with respect to other awards or programs (including, but not limited to Restricted Stock Units and bonus awards) in accordance with the plan or other documents governing such award.

(g)Separate Payments.  It is intended that each installment of the payments and/or benefits provided under the Plan is a separate “payment” for purposes of Section 409A.

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(h)No Representation Regarding Section 409A Compliance.  Notwithstanding any other provision of the Plan, the Company makes no representation that Awards shall be exempt from, or comply with Section 409A.  No member of the Company Group shall be liable for any tax, penalty or interest imposed on a Participant by Section 409A.

8.Conflict in Benefits; Noncumulation of Benefits

8.1Effect of Plan.  The terms of this Plan, when accepted by a Participant pursuant to an executed Participation Agreement, shall supersede all prior arrangements, whether written or oral, and understandings regarding the subject matter of this Plan (including, but not limited to any severance provisions under any employment agreement entered into prior to the Effective Date and/or the date the Participant executes his or her Participation Agreement), and shall be the exclusive agreement for the determination of any payments and benefits due to the Participant.

8.2Noncumulation of Benefits.  Except as expressly provided in a written agreement between a Participant and the Company entered into after the date of such Participant’s Participation Agreement and which expressly disclaims this Section 8.2 and is approved by the Board or the Committee, the total amount of payments and benefits that may be received by the Participant as a result of the events described in Sections 4, 5, and 6 pursuant to (a) the Plan, (b) any agreement between the Participant and the Company, or (c) any other plan, practice, or statutory obligation of the Company, shall not exceed the amount of payments and benefits provided by this Plan upon such events, and the aggregate amounts payable under this Plan shall be reduced to the extent of any excess (but not below zero).

9.Exclusive Remedy

The payments and benefits provided by Section 4 and Section 6 shall constitute the Participant’s sole and exclusive remedy for any alleged injury or other damages arising out of the cessation of the employment relationship between the Participant and the Company in the event of the Participant’s Termination in the Absence of a Change in Control or the Participant’s Termination Upon a Change in Control, respectively.  The Participant shall be entitled to no other compensation, benefits, or other payments from the Company as a result of (a) the Participant’s Termination in the Absence of a Change in Control with respect to which the payments and benefits described in Section 4, if applicable, have been provided to the Participant, or (b) the Participant’s Termination Upon a Change in Control with respect to which the payments and benefits described in Section 6 have been provided to the Participant, except as expressly set forth in this Plan or, subject to the provisions of Section 8.2, in a duly executed written agreement between Company and the Participant.

10.Proprietary and Confidential Information

The Participant agrees to continue to abide by the terms and conditions of the confidentiality and/or proprietary rights agreement between the Participant and the Company or any other member of the Company Group.

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11.No Contract of Employment

Neither the establishment of the Plan, nor any amendment thereto, nor the payment or provision of any benefits shall be construed as giving any person the right to be retained by the Company, a Successor or any other member of the Company Group.  Except as otherwise established in an employment agreement between the Company and a Participant, the employment relationship between the Participant and the Company is an “at-will” relationship.  Accordingly, either the Participant or the Company may terminate the relationship at any time.  In addition, nothing in this Plan shall in any manner obligate any Successor or other member of the Company Group to offer employment to any Participant or to continue the employment of any Participant which it does hire for any specific duration of time.

12.Claims for Benefits

12.1ERISA Plan.  This Plan is intended to be (a) an employee welfare plan as defined in Section 3(1) of Employee Retirement Income Security Act of 1974 (“ERISA”) and (b) a “top-hat” plan maintained for the benefit of a select group of management or highly compensated employees of the Company Group.

12.2Application for Benefits.  All applications for payments and/or benefits under the Plan (“Benefits”) shall be submitted to the highest Company’s level officer in charge of Human Resources (the “Claims Administrator”), with a copy to the Company’s General Counsel.  Applications for Benefits must be in writing on forms acceptable to the Claims Administrator and must be signed by the Participant or beneficiary.  The Claims Administrator reserves the right to require the Participant or beneficiary to furnish such other proof of the Participant’s expenses, including without limitation, receipts, canceled checks, bills, and invoices as may be required by the Claims Administrator.  Notwithstanding the foregoing, in the event that the Participant would otherwise be the Claims Administrator, then the Company’s Chief Executive Officer shall act as the Claims Administrator.

12.3Appeal of Denial of Claim.

(a)If a claimant’s claim for Benefits is denied, the Claims Administrator shall provide notice to the claimant in writing of the denial within ninety (90) days after its submission.  The notice shall be written in a manner calculated to be understood by the claimant and shall include:

(1)The specific reason or reasons for the denial;

(2)Specific references to the Plan provisions on which the denial is based;

(3)A description of any additional material or information necessary for the applicant to perfect the claim and an explanation of why such material or information is necessary; and

(4)An explanation of the Plan’s claims review procedures and a statement of claimant’s right to bring a civil action under ERISA Section 502(a) following an adverse benefit determination.

(b)If special circumstances require an extension of time for processing the initial claim, a written notice of the extension and the reason therefor shall be furnished to the claimant before the end of the initial ninety (90) day period.  In no event shall such extension exceed ninety (90) days.

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(c)If a claim for Benefits is denied, the claimant, at the claimant’s sole expense, may appeal the denial to the Committee (the “Appeals Administrator”) within sixty (60) days of the receipt of written notice of the denial.  In pursuing such appeal the applicant or his duly authorized representative:

(i)may request in writing that the Appeals Administrator review the denial;

(ii)may review pertinent documents; and

(iii)may submit issues and comments in writing.

(d)The decision on review shall be made within sixty (60) days of receipt of the request for review, unless special circumstances require an extension of time for processing, in which case a decision shall be rendered as soon as possible, but not later than one hundred twenty (120) days after receipt of the request for review.  If such an extension of time is required, written notice of the extension shall be furnished to the claimant before the end of the original sixty (60) day period.  The decision on review shall be made in writing, shall be written in a manner calculated to be understood by the claimant, and, if the decision on review is a denial of the claim for Benefits, shall include:  

(i)The specific reason or reasons for the denial;

(ii)Specific references to the Plan provisions on which the denial is based;

(iii)A description of any additional material or information necessary for the applicant to perfect the claim and an explanation of why such material or information is necessary; and 

(iv)An explanation of the Plan’s claims review procedures and a statement of claimant’s right to bring a civil action under ERISA Section  502(a) following an adverse benefit determination.

13.Successors and Assigns

13.1Successors of the Company.  The Company shall require any successor or assign (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company, expressly, absolutely and unconditionally to assume and agree to perform this Plan in the same manner and to the same extent that the Company would be required to perform it if no such succession or assignment had taken place.

13.2Acknowledgment by Company.  If, after a Change in Control, the Company fails to reasonably confirm that it has performed the obligation described in Section 13.1 within twenty (20) days after written notice from the Participant, such failure shall be a material breach of this Plan and shall entitle the Participant to resign for Good Reason and to receive the benefits provided under this Plan in the event of Termination Upon a Change in Control.

13.3Heirs and Representatives of Participant.  This Plan shall inure to the benefit of and be enforceable by the Participant’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devises, legatees or other beneficiaries.  If the Participant should die while any amount would still be payable to the Participant hereunder (other than amounts which, by their terms, terminate upon the death of the Participant) if the Participant had continued to live, then all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this Plan to the executors, personal representatives or administrators of the Participant’s estate.

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14.Notices

14.1General.  For purposes of this Plan, notices and all other communications provided for herein shall be in writing and shall be deemed to have been duly given when personally delivered or when mailed by United States certified mail, return receipt requested, or by overnight courier, postage prepaid, as follows:

(a)if to the Company:

Jamba, Inc. 

3001 Dallas Pkwy, Suite 700

Frisco, Texas 75034

Attention: Chief HR Officer

 

(b)if to the Participant, at the home address which the Participant most recently communicated to the Company in writing.

Either party may provide the other with notices of change of address, which shall be effective upon receipt.

14.2Notice of Termination.  Any termination by the Company of the Participant’s employment or any resignation of employment by the Participant shall be communicated by a notice of termination or resignation to the other party hereto given in accordance with Section 14.1.  Such notice shall indicate the specific termination provision in this Plan relied upon, shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination under the provision so indicated, and shall specify the termination date.

15.Administration, Termination, and Amendment of Plan

15.1Administration.  The Committee shall act as the plan administrator of the Plan.  The Committee has discretion and authority to administer the Plan, including the discretion and authority to:

(a)adopt such rules as it deems advisable in connection with the administration of the Plan, and to construe, interpret, apply and enforce the Plan and any such rules and to remedy ambiguities, errors or omissions in the Plan;

(b)determine questions of eligibility and entitlement to benefits and any other terms of the Plan applicable to the Participants; the Committee’s determinations are conclusive and binding on all parties affected by its determinations;

(c)act under the Plan on a case-by-case basis; the Committee’s decisions under the Plan need not be uniform with respect to similarly situated Participants; and

(d)delegate its authority under the Plan to any director, officer, employee, or group of directors, officers and/or employees of the Company; provided that if any person with administrative authority becomes eligible or makes a claim for Plan benefits, that person will have no authority with respect to any matter specifically affecting his/her individual interest under the Plan, and the Committee will designate another person to exercise such authority.

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15.2Amendment and Termination of the Plan.  The Committee may amend or terminate the Plan in any respect (including any change to the severance benefits) at any time; provided, however, that with respect to any amendment to severance benefits which would reduce the severance benefits provided to any Participant hereunder (“Adverse Amendment”) or any termination of the Plan, such Adverse Amendment or termination shall be effective only with one year notice to Participants; provided further, however, that (i) any Adverse Amendment or termination will not be effective if there is a Change in Control during the one year notice period, and (ii) an Adverse Amendment cannot be made and the Plan cannot be terminated during the Change in Control Period.  A Participant ceasing to be eligible under the terms of the Plan before a Change in Control is not an amendment or termination of the Plan.

16.Miscellaneous Provisions

16.1Unfunded Obligation.  Any amounts payable to Participants pursuant to the Plan are unfunded obligations.  The Company shall not be required to segregate any monies from its general funds, or to create any trusts, or establish any special accounts with respect to such obligations.  The Company shall retain at all times beneficial ownership of any investments, including trust investments, which the Company may make to fulfill its payment obligations hereunder.  Any investments or the creation or maintenance of any trust or any Participant account shall not create or constitute a trust or fiduciary relationship between the Board or the Company and a Participant, or otherwise create any vested or beneficial interest in any Participant or the Participant’s creditors in any assets of the Company.

16.2Duty to Mitigate; Obligations of Company.  Notwithstanding anything in Section 4.1(b)(3) to the contrary, during the Severance Benefit Period, the Participant shall use his or her best efforts to obtain other employment and to pursue other business opportunities and activities, at a comparable level, and any amounts otherwise payable pursuant to Section 4.1(b)(3) shall be reduced by all amounts (whether direct or indirect salary, compensation or otherwise) earned by the Participant from other employment or business activities during the Severance Benefit Period.

16.3No Representations.  By executing a Participation Agreement, the Participant acknowledges that in becoming a Participant in the Plan, the Participant is not relying and has not relied on any promise, representation or statement made by or on behalf of the Company which is not set forth in this Plan.

16.4Waiver.  No waiver by the Participant or the Company of any breach of, or of any lack of compliance with, any condition or provision of this Plan by the other party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time.

16.5Choice of Law.  This Plan shall generally be governed by Federal law under ERISA.  To the extent otherwise applicable, the laws of the State of California, shall apply without regard to its conflict of law provisions.

16.6Validity.  The invalidity or unenforceability of any provision of this Plan shall not affect the validity or enforceability of any other provision of this Plan, which shall remain in full force and effect.

18

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361961-000068 

 

16.7Benefits Not Assignable.  Except as otherwise required by law, no right or interest of any Participant under the Plan shall be assignable or transferable, in whole or in part, either directly or otherwise, including, without limitation, by execution, levy, garnishment, attachment, pledge or in any other manner, and no attempted transfer or assignment thereof shall be effective.  No right or interest of any Participant under the Plan shall be liable for, or subject to, any obligation or liability of such Participant.

16.8Tax Withholding.  All payments made pursuant to this Plan will be subject to withholding of applicable income and employment taxes.

16.9Consultation with Legal and Financial Advisors.  By executing a Participation Agreement, the Participant acknowledges that this Plan confers significant legal rights, and may also involve the waiver of rights under other agreements; that the Company has encouraged the Participant to consult with the Participant’s personal legal and financial advisors; and that the Participant has had adequate time to consult with the Participant’s advisors before executing the Participation Agreement.

16.10Further Assurances.  From time to time, at the Company’s request and without further consideration, the Participant shall execute and deliver such additional documents and take all such further action as reasonably requested by the Company to be necessary or desirable to make effective, in the most expeditious manner possible, the terms of the Plan, the Participant’s Participation Agreement, and/or Release.

17.Agreement

By executing a Participation Agreement, the Participant acknowledges that the Participant has received a copy of this Plan and has read, understands and is familiar with the terms and provisions of this Plan.  This Plan shall constitute an agreement between the Company and the Participant executing a Participation Agreement.

IN WITNESS WHEREOF, the undersigned Assistant Secretary of the Company certifies that the foregoing Plan was duly adopted by the Committee effective July 25, 2013 and amended and restated effective July 1, 2017.

 

	
 
	
 
	
 

 

 

 

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361961-000068 

 

EXHIBIT A

 

 

 

 

 

FORM OF

 

AGREEMENT TO PARTICIPATE IN THE

 

JAMBA, INC.

AMENDED AND RESTATED

EXECUTIVE RETENTION AND SEVERANCE PLAN

 

 

 

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361961-000068 

 

AGREEMENT TO PARTICIPATE IN THE

JAMBA, INC.

AMENDED AND RESTATED

EXECUTIVE RETENTION AND SEVERANCE PLAN

In consideration of the benefits provided by the Jamba, Inc. Amended and Restated Executive Retention and Severance Plan (the “Plan”), the undersigned employee of Jamba, Inc.(the “Company”) and the Company agree that, as of the date written below, the undersigned shall become a Participant in the Plan and shall be fully bound by and subject to all of its provisions.  All references to a “Participant” in the Plan shall be deemed to refer to the undersigned.1

The undersigned employee acknowledges that the Plan confers significant legal rights and constitutes a waiver by Participant of rights under other agreements with the Company (including, but not limited to the employment agreement between the Participant and the Company dated ______________); that the Company has encouraged the undersigned to consult with the undersigned’s personal legal and financial advisors; and that the undersigned has had adequate time to consult with the undersigned’s advisors before executing this agreement.

The undersigned employee acknowledges that he or she has received a copy of the Plan and has read, understands and is familiar with the terms and provisions of the Plan.  The undersigned employee further acknowledges that (1) the undersigned is waiving any right to a jury trial in the event of any dispute arising out of or related to the Plan, and (2) except as otherwise established in an employment agreement between the Company and the undersigned, the employment relationship between the undersigned and the Company is an “at-will” relationship.

 

Executed on _________________________.

 

	
PARTICIPANT
	
 
	
JAMBA, INC.

	
 
	
 
	
 

	
 
	
 
	
By: 

	
Signature
	
 
	
Name:

	
 
	
 
	
Title:

	
 
	
 
	
 

	
Name Printed
	
 
	
 

	
 
	
 
	
 

	
 
	
 
	
 

	
Address
	
 
	
 

 

	
	 

	
1  
	
If the Company desires to allow for a Key Employee (non-Executive Vice President or Senior Vice President) to participate, add the following paragraph and review other provisions to modify as appropriate: “The undersigned is a “Key Employee” (as defined by the Plan) as of the date of this Agreement.  If the undersigned remains a Key Employee, but not an “Executive Officer,” for the purpose of determining any severance payments or benefits to which the undersigned may become entitled under the Plan, then the “Severance Benefit Period” applicable to the undersigned under the Plan shall be periods of ________ months.” 

WEST\241673944.8
361961-000068Exhibit

Exhibit 10.1
FOURTH AMENDMENT TO LEASE
THIS FOURTH AMENDMENT TO LEASE (this “Amendment”) is entered into as of this 10th day of May, 2018 (the “Fourth Amendment Execution Date”), by and between BMR-PACIFIC RESEARCH CENTER LP, a Delaware limited partnership (“Landlord,” formerly known as BMR-Gateway Boulevard LLC), and REVANCE THERAPEUTICS, INC., a Delaware corporation (“Tenant”). 
RECITALS
A.WHEREAS, Landlord and Tenant are parties to that certain Lease dated as of March 31, 2008 (the “Original Lease”), as amended by that certain First Amendment to Lease dated as of March 31, 2008, that certain Second Amendment to Office Lease and Lease dated as of May 17, 2010 and that certain Amended and Restated Third Amendment to Lease dated as of February 26, 2014 (collectively, and as the same may have been further amended, amended and restated, supplemented or modified from time to time, the “Existing Lease”), whereby Tenant leases certain premises (“Existing Premises”) from Landlord at 7555 Gateway Boulevard in Newark, California (“Building 2”);
B.WHEREAS, the Existing Premises are located within that certain Project known as “Pacific Research Center” located at 7333-7999 Gateway Boulevard, Newark, California, including the buildings located thereon;
C.WHEREAS, the Existing Premises is located on a portion of the Project commonly referred to as the “North Campus,” which is that part of the Project to the north of Gateway Boulevard comprised of Building 2 and five (5) other buildings commonly referred to as Buildings 1, 3, 5, 6 and 7, together with all appurtenances thereto (collectively, the “North Campus”);
D.WHEREAS, Landlord and Tenant desire to extend the Term (as defined in the Existing Lease) and expand the Existing Premises to include certain space in the building located at 7999 Gateway Boulevard in Newark, California (“Building 7”), which is also located within the North Campus; and
E.WHEREAS, Landlord and Tenant desire to modify and amend the Existing Lease only in the respects and on the conditions hereinafter stated.
AGREEMENT
NOW, THEREFORE, Landlord and Tenant, in consideration of the mutual promises contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, agree as follows:

1.Definitions.  For purposes of this Amendment, capitalized terms shall have the meanings ascribed to them in the Existing Lease unless otherwise defined herein.  The Existing Lease, as amended by this Amendment, is referred to collectively herein as the “Lease.”  From and after the Fourth Amendment Execution Date, the term “Lease,” as used in the Existing Lease, shall mean the Existing Lease, as amended by this Amendment.  From and after the Additional Premises Commencement Date (as defined below), all references in the Lease to the “Building,” shall mean and refer, individually and/or collectively (as the context may require), to Building 2 and/or Building 7, and the term “Common Area” as it applies to Building 7 shall include all portions of Building 7 that are for the non-exclusive use of the tenants of Building 7  only, and not the tenants of the Project generally, such as service corridors, stairways, elevators, public restrooms and public lobbies.
2.Fourth Amendment Extension Term.  The Term of the Lease is hereby extended for twenty-four (24) months and, therefore, the “Term Expiration Date” is hereby amended to mean January 14, 2027.  The period commencing on January 15, 2025 and ending on the Term Expiration Date shall be referred to herein as the “Fourth Amendment Extension Term.”
3.Condition of Existing Premises.  Tenant acknowledges that (a) it is in possession of and is fully familiar with the condition of the Existing Premises and, notwithstanding anything contained in the Lease to the contrary, agrees to take the same in its condition “as is” as of the first day of the Fourth Amendment Extension Term, and (b) Landlord shall have no obligation to alter, repair or otherwise prepare the Existing Premises for Tenant’s continued occupancy for the Fourth Amendment Extension Term or to pay for any improvements to the Existing Premises.
4.Base Rent for Existing Premises.  Base Rent for the Existing Premises shall continue to be payable as set forth in the Existing Lease until the commencement of the Fourth Amendment Extension Term.  During the Fourth Amendment Extension Term, monthly and annual installments of Base Rent for the Existing Premises shall be as set forth in the table below: 
	
					
	Dates
	Square Feet of Rentable Area
	Base Rent per Square Foot of Rentable Area
	Monthly Base Rent
	Annual Base Rent

	1/15/25 - 1/14/26
	90,378
	$4.68 monthly
	$422,969.04
	$5,075,628.48

	1/15/26 - 1/14/27
	90,378
	$4.82 monthly
	$435,621.96
	$5,227,463.52

Except as expressly set forth in this Amendment, all Rent for the Existing Premises shall continue to be payable in accordance with the provisions of the Existing Lease.  Although monthly Rent for the Existing Premises shall be calculated separately from the Rent for the Additional Premises, Rent for the entire Premises shall be a single, non-severable obligation.
5.Lease of Additional Premises.  Effective as of the Additional Premises Commencement Date (as defined below), Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, certain premises containing approximately eighteen thousand nine hundred forty (18,940) square feet of Rentable Area (as more particularly described on Exhibit A attached hereto, the “Additional Premises”), located on the second (2nd ) floor of Building 7.  

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5.1Additional Premises Terms.  From and after the Additional Premises Commencement Date, the term “Premises” as used in the Lease shall mean the Existing Premises plus the Additional Premises and, therefore, all of the terms, conditions and provisions of the Lease applicable to the Premises generally shall apply to the Additional Premises; provided, however, to the extent of any conflict between the terms, conditions and provisions of the Existing Lease applicable to the Premises generally and the terms, conditions and provisions of this Amendment applicable to the Additional Premises (including, without limitation, the terms, conditions and provisions of Article 5 and Article 6 of this Amendment, together with the Exhibits incorporated therein), the terms, conditions and provisions of this Amendment applicable to the Additional Premises shall control.
5.2Additional Premises Term.  The Term with respect to the Additional Premises (the “Additional Premises Term”) shall commence on the Additional Premises Commencement Date (as defined below) and shall thereafter be coterminous with the Term for the Existing Premises, such that the Term with respect to the Existing Premises and the Additional Premises shall expire on the Term Expiration Date (as amended pursuant to Article 2 above).  
5.3Condition of Additional Premises.  Tenant acknowledges that (a) it is fully familiar with the condition of the Additional Premises and, notwithstanding anything to the contrary in the Lease, agrees to take the same in its condition “as is” as of the Additional Premises Commencement Date, (b) neither Landlord nor any agent of Landlord has made (and neither Landlord nor any agent of Landlord hereby makes) any representation or warranty of any kind whatsoever, express or implied, regarding the Additional Premises, including (without limitation) any representation or warranty with respect to the condition of the Additional Premises or with respect to the suitability of the Additional Premises for the conduct of Tenant’s business and (c) Landlord shall have no obligation to alter, repair or otherwise prepare the Additional Premises for Tenant’s occupancy or to pay for any improvements to the Additional Premises, except for performance of the Additional Premises Tenant Improvements (as defined below).  Tenant’s taking of possession of the Additional Premises shall, except as otherwise agreed to in writing by Landlord and Tenant, conclusively establish that the Additional Premises were at such time in good, sanitary and satisfactory condition and repair.  The terms, conditions and provisions of Article 4 and Article 5 of the Original Lease shall not apply to the Additional Premises; provided, however, that the definitions of “Force Majeure” and “ADA” set forth therein shall apply to other uses of those defined terms within the Lease applicable to the Additional Premises.
5.4CASp.  The Additional Premises have not undergone inspection by a Certified Access Specialist (“CASp,” as defined in California Civil Code Section 55.52).  Even if not required by California law, the Additional Premises may be inspected by a CASp to determine whether the Additional Premises comply with the ADA, and Landlord may not prohibit a CASp performing such an inspection.  If Tenant requests that such an inspection take place, Landlord and Tenant shall agree on the time and manner of the inspection, as well as which party will pay the cost of the inspection and the cost to remedy any defects identified by the CASp.

3

5.5Additional Premises Base Rent.  Commencing as of the Additional Premises Commencement Date, Tenant shall pay to Landlord as Base Rent for the Additional Premises the sums set forth in the table below (subject to adjustments as set forth in Section 5.5 below), each in advance on the first day of each and every calendar month for the duration of the Additional Premises Term.  Furthermore, commencing as of the Additional Premises Commencement Date, all references to “Base Rent” in the terms, conditions and provisions of the Original Lease shall mean and refer to Base Rent for the Existing Premises and Base Rent for the Additional Premise, collectively, to the extent such terms, conditions and provisions apply to both the Existing Premises and the Additional Premises.  
	
				
	Dates
	Square Feet of Rentable Area
	Base Rent per Square Foot of Rentable Area
	Monthly Base Rent

	Months 1 - 2
	18,940
	$0.00 monthly
	$0.00

	Months 3 - 12
	18,940
	$3.10 monthly
	$58,714

5.6Additional Premises Base Rent Adjustments.  Commencing as of the Additional Premises Commencement Date, Base Rent with respect to the Additional Premises shall be subject to an annual upward adjustment of three percent (3%) of the then-current Base Rent for the Additional Premises.  The first such adjustment shall become effective commencing on the first (1st) annual anniversary of the Additional Premises Commencement Date, and subsequent adjustments shall become effective on every successive annual anniversary for so long as the Lease continues in effect.  Article 9 of the Original Lease shall not apply to the Base Rent for the Additional Premises and any references to Article 9 set forth in the Original Lease with respect to adjustments to Base Rent for the Existing Premises shall mean and refer to this Section 5.6 with respect to adjustments to Base Rent for the Additional Premises.  
5.7Additional Premises Additional Rent.  Notwithstanding anything to the contrary in the Existing Lease, the term “Additional Rent” as used in the Lease shall, with respect to the Additional Premises only, mean (a) Tenant’s Pro Rata Share (as defined below) of Operating Expenses (as defined below), (b) the Property Management Fee (as defined below) for the Additional Premises, and (c) any other amounts that Tenant assumes or agrees to pay under the provisions of the Lease that are owed to Landlord, including any and all other sums that may become due by reason of any default of Tenant or failure on Tenant’s part to comply with the agreements, terms, covenants and conditions of the Lease to be performed by Tenant, after notice and the lapse of any applicable cure periods.  Commencing as of the Additional Premises Commencement Date, all references to “Additional Rent” in the terms, conditions and provisions of the Original Lease shall mean and refer to Additional Rent for the Existing Premises and Additional Rent for the Additional Premises, collectively, to the extent such terms, conditions and provisions apply to both the Existing Premises and the Additional Premises.  
5.8Additional Premises Signage.  No sign, advertisement or notice (“Signage”) shall be exhibited, painted or affixed by Tenant on any part of the Additional Premises or Building 

4

7 without Landlord’s prior written consent.  Signage shall conform to Landlord’s design criteria.  For any Signage, Tenant shall, at Tenant’s own cost and expense, (a) acquire all permits for such Signage in compliance with Applicable Laws and (b) design, fabricate, install and maintain such Signage in a first-class condition.  Tenant shall be responsible for reimbursing Landlord for costs incurred by Landlord in removing any of Tenant’s Signage upon the expiration or earlier termination of the Lease.  Interior signs on or about entry doors to the Additional Premises and the directory tablet (if any), as well as Building 7 standard lobby and monument signage on the existing monument at Building 7, shall be inscribed, painted or affixed for Tenant by Landlord at Tenant’s sole cost and expense, and shall be of a size, color and type and be located in a place acceptable to Landlord.  The directory tablet shall be provided exclusively for the display of the name and location of tenants only.  Tenant shall not place anything on the exterior of the corridor walls or corridor doors other than Landlord’s standard lettering.  At Landlord’s option, Landlord may install any Tenant Signage, and Tenant shall pay all costs associated with such installation within thirty (30) days after demand therefor.  Section 13.7 shall not apply to Building 7 or the Additional Premises.
5.9Additional Premises Operating Expenses.  Notwithstanding anything to the contrary in the Existing Lease, Section 10.1, Section 10.2 and Section 10.4 of the Original Lease shall not apply to the Additional Premises.  Rather, Section 10.1, Section 10.2 and Section 10.4 of Exhibit D attached hereto shall apply to the Additional Premises in lieu thereof. 
5.10Additional Premises Utilities and Services.  Notwithstanding anything to the contrary in the Existing Lease, Article 17 of the Original Lease shall not apply to the Additional Premises.  Rather, Article 17 of Exhibit E attached hereto shall apply to the Additional Premises in lieu thereof. 
5.11Additional Premises Repair and Maintenance.  Notwithstanding anything to the contrary in the Existing Lease, Article 19 of the Original Lease shall not apply to the Additional Premises.  Rather, Article 19 of Exhibit F attached hereto shall apply to the Additional Premises in lieu thereof. 
6.Additional Premises Tenant Improvements. 
6.1Landlord shall use commercially reasonable efforts to tender possession of the Additional Premises to Tenant on January 1, 2019 (the “Estimated Additional Premises Commencement Date”), with the work (the “Additional Premises Tenant Improvements”) required of Landlord described in the Additional Premises Work Letter attached hereto as Exhibit B (the “Additional Premises Work Letter”) Substantially Complete (as defined below).  Tenant agrees that in the event such work is not Substantially Complete on or before the Estimated Additional Premises Commencement Date for any reason, then (a) neither this Amendment nor Tenant’s lease of the Additional Premises shall be void or voidable, and (b) Landlord shall not be liable to Tenant for any loss or damage resulting therefrom.  With respect to the Additional Premises Tenant Improvements, the term “Substantially Complete” or “Substantial Completion” means that the Additional Premises Tenant Improvements are substantially complete in accordance with the 

5

Approved Additional Premises Plans (as defined in the Additional Premises Work Letter), except for minor punch list items.  Notwithstanding anything in this Amendment (including the Additional Premises Work Letter) to the contrary, Landlord’s obligation to timely achieve Substantial Completion shall be subject to extension on a day-for-day basis as a result of Force Majeure.  Furthermore, in the event of any Default by Tenant, and at any time thereafter, with or without notice or demand and without limiting Landlord in the exercise of any right or remedy that Landlord may have, Landlord shall have the right to halt any Additional Premises Tenant Improvements and order Landlord’s contractors, subcontractors, consultants, designers and material suppliers to stop work.  All references to the “Tenant Improvements” in the Original Lease, other than such references in Article 4 and Article 5 of the Original Lease and the initial Work Letter attached to the Original Lease, shall be deemed to include the Additional Premises Tenant Improvements constructed in accordance with this Amendment.  The references to the “Work Letter” in Sections 10.6 and 18.9 of the Original Lease shall mean the Additional Premises Work Letter attached to this Amendment with respect to the Additional Premises Tenant Improvements constructed in accordance with this Amendment.  
6.2The “Additional Premises Commencement Date” shall be the later of (a) the Estimated Additional Premises Commencement Date and (b) the day Landlord tenders possession of the Additional Premises to Tenant with the Additional Premises Tenant Improvements Substantially Complete.  If possession is delayed by action of Tenant, then the Additional Premises Commencement Date shall be the date that the Additional Premises Commencement Date would have occurred but for such delay.  Tenant shall execute and deliver to Landlord written acknowledgment of the actual Additional Premises Commencement Date within ten (10) days after Tenant takes occupancy of the Additional Premises, in the form attached as Exhibit C hereto.  Failure to execute and deliver such acknowledgment, however, shall not affect the Additional Premises Commencement Date or Landlord’s or Tenant’s liability hereunder.  Failure by Tenant to obtain validation by any medical review board or other similar governmental licensing of the Additional Premises required for the Permitted Use of the Additional Premises by Tenant shall not serve to extend the Additional Premises Commencement Date.  All references to the “Term Commencement Date” in the terms, conditions and provisions of the Original Lease shall mean and refer to the Additional Premises Commencement Date to the extent such terms, conditions and provisions apply to the Additional Premises. 
6.3Landlord shall endeavor to permit Tenant to enter upon the Additional Premises at least thirty (30) days prior to the Additional Premises Commencement Date for the purpose of installing improvements or the placement of personal property; provided, however, that (a) prior to any such entry, Tenant shall furnish to Landlord evidence satisfactory to Landlord in advance that insurance coverages required of Tenant under the provisions of Article 24 of the Original Lease are in effect with respect to the Additional Premises, (b) such entry shall be subject to all the terms and conditions of the Lease other than the payment of Base Rent (with respect to the Additional Premises only), and (c) if the Additional Premises Commencement Date is delayed due to such early access, then the Additional Premises Commencement Date shall be the date that the Additional Premises Commencement Date would have occurred but for such delay.  

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6.4Landlord shall cause the Additional Premises Tenant Improvements to be constructed in the Additional Premises pursuant to the Additional Premises Work Letter at a cost to Landlord not to exceed Two Million One Hundred Seventy-Eight Thousand One Hundred Dollars ($2,178,100) (the “Additional Premises TI Allowance”).  The Additional Premises TI Allowance may be applied to the costs of (a) construction, (b) project management by Landlord (which fee shall equal three percent (3%) of the cost of the Additional Premises Tenant Improvements, including the Additional Premises TI Allowance), (c) commissioning of mechanical, electrical and plumbing systems by a licensed, qualified commissioning agent hired by Landlord, and review of such party’s commissioning report by a licensed, qualified commissioning agent hired by Tenant, (d) space planning, architect, engineering and other related services performed by third parties unaffiliated with Tenant, (e) building permits and other taxes, fees, charges and levies by Governmental Authorities for permits or for inspections of the Additional Premises Tenant Improvements, and (f) costs and expenses for labor, material, equipment and fixtures.  In no event shall the Additional Premises TI Allowance be used for (w) payments to Tenant or any affiliates of Tenant, (x) the purchase of any furniture, personal property or other non-building system equipment, (y) costs arising from any default by Tenant of its obligations under the Lease or (z) costs that are recoverable by Tenant from a third party (e.g., insurers, warrantors, or tortfeasors).  Notwithstanding anything to the contrary in this Section, Tenant shall be permitted to apply an amount not to exceed Two Hundred Seventeen Thousand Eight Hundred Ten Dollars ($217,810) of the Additional Premises TI Allowance toward “soft” costs related to the Additional Premises Tenant Improvements, including costs related to architectural design, engineering, wiring, cabling and security.
6.5Tenant shall have until the date that is twelve (12) months after the Fourth Amendment Execution Date to expend the unused portion of the Additional Premises TI Allowance, after which date Landlord’s obligation to fund any such costs shall expire.  In no event shall any unused Additional Premises TI Allowance entitle Tenant to a credit against Rent payable under the Lease.
6.6The references to “TI Costs” and “Excess TI Costs” in Sections 25.11 and 26.5 of the Original Lease shall mean and refer to the Additional Premises TI Allowance and Excess Additional Premises TI Costs (as defined in the Additional Premises Work Letter), respectively, with respect to any casualty or taking solely affecting the Additional Premises.  
7.Rentable Area and Pro Rata Share.  Effective as of the Additional Premises Commencement Date, the chart in Section 2.2 of the Original Lease is hereby deleted in its entirety and replaced with the following: 

7

	
		
	Definition or Provision
	Means the Following
(As of the Additional Premises Commencement Date)

	Rentable Area of Premises
	90,378 square feet (Building 2)
18,940 (Building 7)
109,318 (Entire Premises)

	Rentable Area of North Campus
	966,271 square feet

	Rentable Area of Project
	1,389,517 square feet

	Tenant’s Pro Rata Share of Building
	100.00% (Building 2)
10.64% (Building 7)

	Tenant’s Pro Rata Share of North Campus
	9.35% (Building 2)
1.96% (Building 7)
11.31% (Entire Premises)

	Tenant’s Pro Rata Share of Project
	6.50% (Building 2)
1.37% (Building 7)
7.87% (Entire Premises)

8.Neighboring Properties.  Landlord may, from time to time, modify Landlord’s calculation and allocation procedures for Operating Expenses, so long as such modifications produce Dollar results substantially consistent with Landlord’s then-current practice at the Project.  Landlord or an affiliate(s) of Landlord currently own other property(ies) adjacent to the Project or its neighboring properties (collectively, “Neighboring Properties”).  In connection with Landlord performing services for the Project pursuant to the Lease, similar services may be performed by the same vendor(s) for Neighboring Properties.  In such a case, Landlord shall reasonably allocate to each Building and the Project the costs for such services based upon the ratio that the square footage of the Building or the Project (as applicable) bears to the total square footage of all of the Neighboring Properties or buildings within the Neighboring Properties for which the services are performed, unless the scope of the services performed for any building or property (including the Building and the Project) is disproportionately more or less than for others, in which case Landlord shall equitably allocate the costs based on the scope of the services being performed for each building or property (including the Building and the Project).  Since the Project consists of multiple buildings, certain Operating Expenses may pertain to a particular building(s), certain Operating Expenses may pertain to the North Campus, and other Operating Expenses to the Project as a whole.  Landlord reserves the right in its sole discretion to allocate any such costs applicable to any particular building within the Project to such building, any costs applicable to the North Campus to the buildings comprising the North Campus (including the Building), and other such costs applicable to the Project to each building in the Project (including the Building), with the tenants in each building being responsible for paying their respective proportionate shares of their buildings to the extent required 

8

under their leases.  Landlord shall allocate such costs to the buildings (including the Building) in a reasonable, non-discriminatory manner, and such allocation shall be binding on Tenant.
9.Gross Up.  In the event that the Building, North Campus or Project is less than fully occupied during a calendar year, Tenant acknowledges that Landlord may extrapolate Operating Expenses that vary depending on the occupancy of the Building, North Campus or Project, as applicable, to equal Landlord’s reasonable estimate of what such Operating Expenses would have been had the Building, North Campus or Project, as applicable, been ninety-five percent (95%) occupied during such calendar year; provided, however, that Landlord shall not recover more than one hundred percent (100%) of Operating Expenses.
10.Security Deposit.  On or before the Fourth Amendment Execution Date, Tenant shall deposit with Landlord an amount equal to One Hundred Fifty Thousand Dollars ($150,000), in the form of cash or L/C Security in accordance with Section 12 of the Original Lease, as an additional Security Deposit under the Lease.  From and after the Fourth Amendment Execution Date, the required Security Deposit under the Lease shall be an amount equal to Five Hundred Fifty Thousand Dollars ($550,000).  Effective as of the Fourth Amendment Execution Date, Section 12.5 of the Original Lease is hereby deleted in its entirety and shall no longer be of any further force or effect.
11.Additional Insureds.  The first grammatical sentence of Section 24.4 of the Original Lease is hereby deleted in its entirety and replaced with the following:
“The insurance required to be purchased and maintained by Tenant pursuant to this Lease shall name Landlord, BioMed Realty LLC, BioMed Realty, L.P., BRE Edison L.P., BRE Edison LLC, BRE Edison Holdings L.P., BRE Edison Holdings LLC, BRE Edison Parent L.P. and their respective officers, employees, agents, general partners, members, subsidiaries, affiliates and Lenders (“Landlord Parties”) as additional insureds as respects liability arising from work or operations performed by or on behalf of Tenant, Tenant’s use or occupancy of Premises, and ownership, maintenance or use of vehicles by or on behalf of Tenant.”
12.Broker. Tenant represents and warrants that it has not dealt with any broker or agent in the negotiation for or the obtaining of this Amendment, other than T3 Advisors (“Broker”), and agrees to reimburse, indemnify, save, defend (at Landlord’s option and with counsel reasonably acceptable to Landlord, at Tenant’s sole cost and expense) and hold harmless Landlord and its affiliates, employees, agents, contractor, lenders, mortgagees, ground lessors and beneficiaries, for, from and against any and all cost or liability for compensation claimed by any such broker or agent, other than Broker, employed or engaged by it or claiming to have been employed or engaged by it.  Broker is entitled to a leasing commission in connection with the making of this Amendment, and Landlord shall pay such commission to Broker pursuant to a separate agreement between Landlord and Broker.

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13.No Default.  Tenant represents, warrants and covenants that, to the best of Tenant’s knowledge, Landlord and Tenant are not in default of any of their respective obligations under the Existing Lease and no event has occurred that, with the passage of time or the giving of notice (or both) would constitute a default by either Landlord or Tenant thereunder.
14.Notices.  Tenant confirms that, notwithstanding anything in the Lease to the contrary, notices delivered to Tenant pursuant to the Lease should be sent to:
Revance Therapeutics, Inc.
7555 Gateway Boulevard
Newark, California 94560
Attention: L. Daniel Browne
Attention: C. McDowell

15.Effect of Amendment.  Except as modified by this Amendment, the Existing Lease and all the covenants, agreements, terms, provisions and conditions thereof shall remain in full force and effect and are hereby ratified and affirmed.  In the event of any conflict between the terms contained in this Amendment and the Existing Lease, the terms herein contained shall supersede and control the obligations and liabilities of the parties.
16.Successors and Assigns.  Each of the covenants, conditions and agreements contained in this Amendment shall inure to the benefit of and shall apply to and be binding upon the parties hereto and their respective heirs, legatees, devisees, executors, administrators and permitted successors and assigns and sublessees.  Nothing in this section shall in any way alter the provisions of the Lease restricting assignment or subletting.
17.Miscellaneous.  This Amendment becomes effective only upon execution and delivery hereof by Landlord and Tenant. The captions of the paragraphs and subparagraphs in this Amendment are inserted and included solely for convenience and shall not be considered or given any effect in construing the provisions hereof.  All exhibits hereto are incorporated herein by reference.  Submission of this instrument for examination or signature by Tenant does not constitute a reservation of or option for a lease, and shall not be effective as a lease, lease amendment or otherwise until execution by and delivery to both Landlord and Tenant.
18.Authority.  Tenant guarantees, warrants and represents that the individual or individuals signing this Amendment have the power, authority and legal capacity to sign this Amendment on behalf of and to bind all entities, corporations, partnerships, limited liability companies, joint venturers or other organizations and entities on whose behalf such individual or individuals have signed.
19.Counterparts; Facsimile and PDF Signatures.  This Amendment may be executed in one or more counterparts, each of which, when taken together, shall constitute one and the same 

10

document.  A facsimile or portable document format (PDF) signature on this Amendment shall be equivalent to, and have the same force and effect as, an original signature.
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11

IN WITNESS WHEREOF, Landlord and Tenant have executed this Amendment as of the date and year first above written.
LANDLORD:
BMR-PACIFIC RESEARCH CENTER LP,
a Delaware limited partnership

By:    /s/ Marie Lewis            
Name:    Marie Lewis                
Title:    Vice President, Legal            

TENANT:
REVANCE THERAPEUTICS, INC.,
a Delaware corporation

By:    /s/ L. Daniel Browne            
Name:    L. Daniel Browne            
Title:    President and CEO            

12

EXHIBIT A
ADDITIONAL PREMISES

EXHIBIT B
ADDITIONAL PREMISES WORK LETTER
This Additional Premises Work Letter (this “Additional Premises Work Letter”) is made and entered into as of the 10th  day of May, 2018, by and between BMR-PACIFIC RESEARCH CENTER LP, a Delaware limited partnership (“Landlord”), and REVANCE THERAPEUTICS, INC., a Delaware corporation (“Tenant”), and is attached to and made a part of that certain Fourth Amendment to Lease of even date herewith (the “Amendment”), by and between Landlord and Tenant for the Additional Premises (as defined in the Amendment).  All capitalized terms used but not otherwise defined herein shall have the meanings given them in the Amendment.
		
	1.
	General Requirements.

1.1Authorized Representatives.
(a)Landlord designates, as Landlord’s authorized representative (“Landlord’s Authorized Representative”), (i) Salil Payappilly as the person authorized to initial plans, drawings, approvals and to sign change orders pursuant to this Additional Premises Work Letter and (ii) an officer of Landlord as the person authorized to sign any amendments to this Additional Premises Work Letter.  Tenant shall not be obligated to respond to or act upon any such item until such item has been initialed or signed (as applicable) by the appropriate Landlord’s Authorized Representative.  Landlord may change either Landlord’s Authorized Representative upon one (1) business day’s prior written notice to Tenant.
(b)Tenant designates Brian Blagg (“Tenant’s Authorized Representative”) as the person authorized to initial and sign all plans, drawings, change orders and approvals pursuant to this Additional Premises Work Letter.  Landlord shall not be obligated to respond to or act upon any such item until such item has been initialed or signed (as applicable) by Tenant’s Authorized Representative.  Tenant may change Tenant’s Authorized Representative upon one (1) business day’s prior written notice to Landlord. 
1.2Schedule.  The schedule for design and development of the Additional Premises Tenant Improvements, including the time periods for preparation and review of construction documents, approvals and performance, shall be in accordance with a schedule to be prepared by Landlord (the “Schedule”).  The Schedule shall be subject to adjustment as mutually agreed upon in writing by the parties, or as otherwise provided in this Additional Premises Work Letter.
1.3Landlord’s Architects, Contractors and Consultants.  The architect, engineering consultants, design team, general contractor and subcontractors responsible for the construction of the Additional Premises Tenant Improvements shall be selected by Landlord.
2.Additional Premises Tenant Improvements.  All Additional Premises Tenant Improvements shall be performed by Landlord’s contractor, at Tenant’s sole cost and expense (subject to Landlord’s obligations with respect to any portion of the Additional Premises TI Allowance used by Landlord in completing the Additional Premises Tenant Improvements) and in substantial accordance with 

the Approved Additional Premises Plans (as defined below), the Amendment and this Additional Premises Work Letter.  To the extent that the total projected cost of the Additional Premises Tenant Improvements (as projected by Landlord) exceeds the Additional Premises TI Allowance (such excess, the “Excess Additional Premises TI Costs”), Tenant shall advance to Landlord any Excess Additional Premises TI Costs within ten (10) days after receipt of an invoice therefor, but in any case before Landlord commences the Additional Premises Tenant Improvements.  If Landlord is delayed in commencing the Additional Premises Tenant Improvements due to Tenant’s failure to timely pay the Excess Additional Premises TI Costs to Landlord, Landlord shall be entitled to a day-for-day extension to achieve Substantial Completion of the Additional Premises Tenant Improvements for the period of such delay.  If the actual Excess Additional Premises TI Costs are less than the Excess Additional Premises TI Costs paid by Tenant to Landlord, Landlord shall credit Tenant with the overage paid by Tenant against Tenant’s Rent obligations, beginning after Landlord has completed the final accounting for the Additional Premises Tenant Improvements.  If the cost of the Additional Premises Tenant Improvements (as projected by Landlord) increases over Landlord’s initial projection, then Landlord may notify Tenant and Tenant shall deposit any additional Excess Additional Premises TI Costs with Landlord in the same way that Tenant deposited the initial Excess Additional Premises TI Costs.  If Tenant fails to pay, or is late in paying, any sum due to Landlord under this Additional Premises Work Letter, then Landlord shall have all of the rights and remedies set forth in the Lease for nonpayment of Rent (including the right to interest and the right to assess a late charge), and for purposes of any litigation instituted with regard to such amounts the same shall be considered Rent.  All material and equipment furnished by Landlord or its contractors as the Additional Premises Tenant Improvements shall be new or “like new,” and the Additional Premises Tenant Improvements shall be performed in a first-class, workmanlike manner.
2.1Additional Premises Work Plans.  Landlord shall prepare and submit to Tenant for approval schematics covering the Additional Premises Tenant Improvements prepared in conformity with the applicable provisions of this Additional Premises Work Letter (the “Additional Premises Draft Schematic Plans”).  The Additional Premises Draft Schematic Plans shall contain sufficient information and detail to accurately describe the proposed design to Tenant.  Tenant shall notify Landlord in writing within five (5) days after receipt of the Additional Premises Draft Schematic Plans whether Tenant approves or objects to the Additional Premises Draft Schematic Plans and of the manner, if any, in which the Additional Premises Draft Schematic Plans are unacceptable.  Tenant’s failure to respond within such five (5) day period shall be deemed approval by Tenant.  If Tenant reasonably objects to the Additional Premises Draft Schematic Plans, then Landlord shall revise the Additional Premises Draft Schematic Plans and cause Tenant’s objections to be remedied in the revised Additional Premises Draft Schematic Plans.  Landlord shall then resubmit the revised Additional Premises Draft Schematic Plans to Tenant for approval, such approval not to be unreasonably withheld, conditioned or delayed.  Tenant’s approval of or objection to revised Additional Premises Draft Schematic Plans and Landlord’s correction of the same shall be in accordance with this Section until Tenant has approved the Additional Premises Draft Schematic Plans in writing or been deemed to have approved them.  The iteration of the Additional Premises Draft Schematic Plans that is approved or deemed approved by Tenant without objection shall be referred to herein as the “Approved Additional Premises Schematic Plans.” In the event that (a) Additional Premises Draft Schematic Plans are not approved by Tenant in accordance with this 

Section prior to May 1, 2018 (the “Scheduled Approval Date”), and (b) the Additional Premises Tenant Improvements are not Substantially Complete on or before the Estimated Additional Premises Commencement Date, then, notwithstanding anything in the Amendment or this Additional Premises Work Letter to the contrary, (x) Landlord shall be entitled to a day-for-day delay for every day after such date until Additional Premises Draft Schematic Plans are approved by Tenant in accordance with this Section, and (y) the actual Additional Premises Commencement Date shall be the date that the actual Additional Premises Commencement Date would have occurred had Additional Premises Draft Schematic Plans been approved in accordance with this Section on or before the Scheduled Approval Date. 
2.2Additional Premises Construction Plans.  Landlord shall prepare final plans and specifications for the Additional Premises Tenant Improvements that (a) are consistent with and are logical evolutions of the Approved Additional Premises Schematic Plans and (b) incorporate any other Tenant-requested (and Landlord-approved) Changes (as defined below).  As soon as such final plans and specifications (“Additional Premises Construction Plans”) are completed, Landlord shall deliver the same to Tenant for Tenant’s approval, which approval shall not be unreasonably withheld, conditioned or delayed.  Such Additional Premises Construction Plans shall be approved or disapproved by Tenant within five (5) days after delivery to Tenant.  Tenant’s failure to respond within such five (5) day period shall be deemed approval by Tenant.  If the Additional Premises Construction Plans are disapproved by Tenant, then Tenant shall notify Landlord in writing of its reasonable objections to such Additional Premises Construction Plans, and the parties shall confer and negotiate in good faith to reach agreement on the Additional Premises Construction Plans.  Promptly after the Additional Premises Construction Plans are approved by Landlord and Tenant, two (2) copies of such Additional Premises Construction Plans shall be initialed and dated by Landlord and Tenant, and Landlord shall promptly submit such Additional Premises Construction Plans to all appropriate Governmental Authorities for approval.  The Additional Premises Construction Plans so approved, and all change orders specifically permitted by this Additional Premises Work Letter, are referred to herein as the “Approved Additional Premises Plans.”
2.3Changes to the Additional Premises Tenant Improvements.  Any changes to the Approved Additional Premises Plans (each, a “Change”) shall be requested and instituted in accordance with the provisions of this Article 2 and shall be subject to the written approval of the non-requesting party in accordance with this Additional Premises Work Letter. 
a.Change Request.  Either Landlord or Tenant may request Changes after Tenant approves the Approved Additional Premises Plans by notifying the other party thereof in writing in substantially the same form as the AIA standard change order form (a “Change Request”), which Change Request shall detail the nature and extent of any requested Changes, including (a) the Change, (b) the party required to perform the Change and (c) any modification of the Approved Additional Premises Plans and the Schedule, as applicable, necessitated by the Change.  If the nature of a Change requires revisions to the Approved Additional Premises Plans, then the requesting party shall be solely responsible for the cost and expense of such revisions and any increases in the cost of the Additional Premises Tenant Improvements as a result of such Change.  Change Requests shall be signed by the requesting party’s Authorized Representative.

b.Approval of Changes.  All Change Requests shall be subject to the other party’s prior written approval, which approval shall not be unreasonably withheld, conditioned or delayed.  The non-requesting party shall have five (5) business days after receipt of a Change Request to notify the requesting party in writing of the non-requesting party’s decision either to approve or object to the Change Request.  The non-requesting party’s failure to respond within such five (5) business day period shall be deemed approval by the non-requesting party.
3.Requests for Consent.  Except as otherwise provided in this Additional Premises Work Letter, Tenant shall respond to all requests for consents, approvals or directions made by Landlord pursuant to this Additional Premises Work Letter within five (5) days following Tenant’s receipt of such request.  Tenant’s failure to respond within such five (5) day period shall be deemed approval by Tenant.
4. Additional Premises TI Allowance.
4.1Application of Additional Premises TI Allowance.  Landlord shall contribute the Additional Premises TI Allowance and any Excess Additional Premises TI Costs advanced by Tenant to Landlord toward the costs and expenses incurred in connection with the performance of the Additional Premises Tenant Improvements, in accordance with the Amendment.  If the entire Additional Premises TI Allowance is not applied toward or reserved for the costs of the Additional Premises Tenant Improvements, then Tenant shall not be entitled to a credit of such unused portion of the Additional Premises TI Allowance.  If the entire Excess Additional Premises TI Costs advanced by Tenant to Landlord are not applied toward the costs of the Additional Premises Tenant Improvements, then Landlord shall promptly return such excess to Tenant following completion of the Additional Premises Tenant Improvements.  Tenant may apply the Additional Premises TI Allowance for the payment of construction and other costs in accordance with the terms and provisions of the Amendment.
4.2Approval of Budget for the Additional Premises Tenant Improvements.  Notwithstanding anything to the contrary set forth elsewhere in this Additional Premises Work Letter or the Amendment, Landlord shall not have any obligation to expend any portion of the Additional Premises TI Allowance until Landlord and Tenant shall have approved in writing the budget for the Additional Premises Tenant Improvements (the “Approved Budget”).  Prior to Landlord’s approval of the Approved Budget, Tenant shall pay all of the costs and expenses incurred in connection with the Additional Premises Tenant Improvements as they become due.  Tenant shall promptly reimburse Landlord for costs or expenses relating to the Additional Premises Tenant Improvements that exceed the amount of the Additional Premises TI Allowance. 
5.Miscellaneous.
5.1Incorporation of Lease Provisions.  Sections 41.3 through 41.10 and Sections 41.12 through 41.17 of the Original Lease are incorporated into this Additional Premises Work Letter by reference, and shall apply to this Additional Premises Work Letter in the same way that they apply to the Lease.

5.2General.  This Additional Premises Work Letter shall not apply to improvements other than the Additional Premises Tenant Improvements. 
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IN WITNESS WHEREOF, Landlord and Tenant have executed this Additional Premises Work Letter to be effective on the date first above written.
LANDLORD:
BMR-PACIFIC RESEARCH CENTER LP,
a Delaware limited partnership

By:    /s/ Marie Lewis            
Name:    Marie Lewis                
Title:    Vice President, Legal            

TENANT:
REVANCE THERAPEUTICS, INC.,
a Delaware corporation

By:    /s/ L. Daniel Browne            
Name:    L. Daniel Browne            
Title:    President and CEO            

EXHIBIT C
 ACKNOWLEDGEMENT OF ADDITIONAL PREMISES COMMENCEMENT DATE
THIS ACKNOWLEDGEMENT OF ADDITIONAL PREMISES COMMENCEMENT DATE is entered into as of [_______], 20[__], with reference to that certain Fourth Amendment to Lease (the “Amendment”) dated as of [_______], 20[__], by REVANCE THERAPEUTICS, INC., a Delaware corporation (“Tenant”), in favor of BMR-PACIFIC RESEARCH CENTER LP, a Delaware limited partnership (“Landlord”).  All capitalized terms used herein without definition shall have the meanings ascribed to them in the Amendment.
Tenant hereby confirms the following:
1.Tenant accepted possession of the Additional Premises for use in accordance with the Permitted Use on [_______], 20[__].  Tenant first occupied the Additional Premises for the Permitted Use on [_______], 20[__]. 
2.The Additional Premises are in good order, condition and repair.
3.The Additional Premises Tenant Improvements are Substantially Complete.
4.Landlord has fulfilled all of its duties in the nature of inducements offered to Tenant to lease the Additional Premises.
5.In accordance with the provisions of the Amendment, the Additional Premises Commencement Date is [_______], 20[__].
6.Tenant has no existing defenses against the enforcement of the Lease by Landlord, and there exist no offsets or credits against Rent owed or to be owed by Tenant.
7.The obligation to pay Rent with respect to the Additional Premises is presently in effect and all Rent obligations on the part of Tenant under the Lease with respect to the Additional Premises commenced to accrue on [_______], 20[__], with Base Rent for the Additional Premises payable on the dates and amounts set forth in the chart below:
	
					
	Dates
	Approximate Square Feet of Rentable Area
	Base Rent per Square Foot of Rentable Area
	Monthly Base Rent
	Annual Base Rent

	[__]/[__]/[__]-[__]/[__]/[__]
	[  ]
	$[_______] [monthly][OR][annually]
	[  ]
	[  ]

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C-1

IN WITNESS WHEREOF, Tenant has executed this Acknowledgment of Additional Premises Commencement Date as of the date first written above.
TENANT:
REVANCE THERAPEUTICS, INC.,
a Delaware corporation
By:                    
Name:                    
Title:                    

C-2

EXHIBIT D
OPERATING EXPENSES
10.    Operating Expenses.
10.1    The term “Operating Expenses” shall include:
(a)Government impositions, including property tax costs consisting of real and personal property taxes (including amounts due under any improvement bond upon the Building or the Project (including the parcel or parcels of real property upon which the Building, the other buildings in the Project and areas serving the Building and the Project are located)) or assessments in lieu thereof imposed by any federal, state, regional, local or municipal governmental authority, agency or subdivision (each, a “Governmental Authority”); taxes on or measured by gross rentals received from the rental of space in the Project; taxes based on the square footage of the Additional Premises, the Building or the Project, as well as any parking charges, utilities surcharges or any other costs levied, assessed or imposed by, or at the direction of, or arising from Applicable Laws (as defined below) or interpretations thereof, promulgated by any Governmental Authority in connection with the use or occupancy of the Project or the parking facilities serving the Project; taxes on this transaction or any document to which Tenant is a party creating or transferring an interest in the Additional Premises; any fee for a business license to operate an office building; and any expenses, including the reasonable cost of attorneys or experts, reasonably incurred by Landlord in seeking reduction by the taxing authority of the applicable taxes, less tax refunds obtained as a result of an application for review thereof; and
(b)All other costs of any kind paid or incurred by Landlord in connection with the operation or maintenance of the Building and the Project (including the Amenities Building), which shall include (i) Project office rent at fair market rental for a commercially reasonable amount of space for Project management personnel located in the Amenities Building, to the extent an office used for Project operations is maintained at the Project, plus customary expenses for such office, and (ii) fair market rent for the portion of the Amenities Building used in providing the Amenities Building Services, and costs of repairs and replacements to improvements within the Project as appropriate to maintain the Project as required hereunder, including costs of funding such reasonable reserves as Landlord, consistent with good business practice, may establish to provide for future repairs and replacements, or as any Lender may require; costs of utilities furnished to the Common Area; sewer fees; cable television; trash collection; cleaning, including windows (including those of the Amenities Building); heating, ventilation and air-conditioning; maintenance of landscaping and grounds; snow removal; maintenance of drives and parking areas; maintenance of the roof (including that of the Amenities Building); security services and devices; building supplies; maintenance or replacement of equipment utilized for operation and maintenance of the Project; license, permit and inspection fees; sales, use  and excise taxes on goods and services purchased by Landlord in connection with the operation, maintenance or repair of the Building or Project systems and equipment; telephone, postage, stationery supplies and other expenses incurred in connection with the operation, maintenance or repair of the Project; accounting, legal and other professional fees and expenses incurred in connection with the Project; costs of furniture, draperies, carpeting, landscaping supplies, snow removal and other customary and ordinary items of personal 

property provided by Landlord for use in Common Area or in the Project office; Project office rent or rental value for a commercially reasonable amount of space, to the extent an office used for Project operations is maintained at the Project, plus customary expenses for such office; capital expenditures; costs of complying with all federal, state, municipal and local laws, codes, ordinances, rules and regulations of Governmental Authorities, committees, associations, or other regulatory committees, agencies or governing bodies having jurisdiction over the Additional Premises, the Building, the Property, the Project, Landlord or Tenant, including both statutory and common law and hazardous waste rules and regulations (“Applicable Laws”) (except to the extent such costs are incurred to remedy non-compliance as of the Execution Date with Applicable Laws); costs to keep the Project in compliance with, or costs or fees otherwise required under or incurred pursuant to any CC&Rs, including condominium fees; insurance premiums, including premiums for commercial general liability, property casualty, earthquake, terrorism and environmental coverages; portions of insured losses paid by Landlord as part of the deductible portion of a loss pursuant to the terms of insurance policies; service contracts; costs of services of independent contractors retained to do work of a nature referenced above; and costs of compensation (including employment taxes and fringe benefits) of all persons who perform regular and recurring duties connected with the day-to-day operation and maintenance of the Project, its equipment, the adjacent walks, landscaped areas, drives and parking areas, including janitors, floor waxers, window washers, watchmen, gardeners, sweepers, plow truck drivers, handymen, and engineering/maintenance/facilities personnel.
(c)Notwithstanding the foregoing, Operating Expenses shall not include any net income, franchise, capital stock, estate or inheritance taxes, or taxes that are the personal obligation of Tenant or of another tenant of the Project; any leasing commissions; expenses that relate to preparation of rental space for a tenant; expenses of initial development and construction, including grading, paving, landscaping and decorating (as distinguished from maintenance, repair and replacement of the foregoing); legal expenses relating to other tenants; costs of repairs to the extent reimbursed by payment of insurance proceeds received by Landlord; interest upon loans to Landlord or secured by a loan agreement, mortgage, deed of trust, security instrument or other loan document covering the Project or a portion thereof (provided that interest upon a government assessment or improvement bond payable in installments shall constitute an Operating Expense under Subsection 10.1(a)); salaries of executive officers of Landlord; depreciation claimed by Landlord for tax purposes (provided that this exclusion of depreciation is not intended to delete from Operating Expenses actual costs of repairs and replacements and reasonable reserves in regard thereto that are provided for in Subsection 10.1(b)); costs or expenses incurred in connection with the financing or sale of the Project or any portion thereof; costs that are charged to or paid by Tenant under other provisions of the Lease; professional fees and disbursements and other costs and expenses related to the ownership (as opposed to the use, occupancy, operation, maintenance or repair) of the Project; and any item that, if included in Operating Expenses, would involve a double collection for such item by Landlord.  To the extent that Tenant uses more than Tenant’s Pro Rata Share of any item of Operating Expenses, Tenant shall pay Landlord for such excess in addition to Tenant’s obligation to pay Tenant’s Pro Rata Share of Operating Expenses and all references to Tenant’s obligation to pay Tenant’s Pro Rata Share of Operating Expenses shall be deemed to include any such excess amounts to be paid by Tenant.  

10.2    Tenant shall pay to Landlord on the first day of each calendar month of the Additional Premises Term, as Additional Rent, (a) the Property Management Fee (as defined below) for the Additional Premises, and (b) Landlord’s estimate of Tenant’s Pro Rata Share of Operating Expenses for the Additional Premises with respect to the Building, North Campus and the Project, as applicable, for such month.
(w)The “Property Management Fee” for the Additional Premises shall equal three percent (3%) of Base Rent due from Tenant with respect to the Additional Premises.  Tenant shall pay the Property Management Fee in accordance with Section 10.2 with respect to the entire Additional Premises Term, including any extensions thereof or any holdover periods, regardless of whether Tenant is obligated to pay Base Rent, Operating Expenses or any other Rent with respect to any such period or portion thereof.  For the first two (2) months of the Additional Premises Term, the Property Management Fee for the Additional Premises shall be calculated as if Tenant were paying Fifty-Eight Thousand Seven Hundred Fourteen Dollars ($58,714) per month for Base Rent with respect to the Additional Premises.
(x)Within ninety (90) days after the conclusion of each calendar year (or such longer period as may be reasonably required by Landlord), Landlord shall furnish to Tenant a statement showing in reasonable detail the actual Operating Expenses, Tenant’s Pro Rata Share of Operating Expenses, and the cost of providing utilities to the Additional Premises for the previous calendar year (“Landlord’s Statement”).  Any additional sum due from Tenant to Landlord shall be due and payable within thirty (30) days after receipt of an invoice therefor.  If the amounts paid by Tenant pursuant to this Section exceed Tenant’s Pro Rata Share of Operating Expenses for the previous calendar year, then Landlord shall credit the difference against the Rent next due and owing from Tenant; provided that, if the Lease term has expired, Landlord shall accompany Landlord’s Statement with payment for the amount of such difference.
(y)Any amount due under this Section for any period that is less than a full month shall be prorated for such fractional month on the basis of the number of days in the month.
10.4    Tenant shall not be responsible for Operating Expenses for the Additional Premises with respect to any time period prior to the Additional Premises Commencement Date; provided, however, that if Landlord shall permit Tenant possession of the Additional Premises prior to the Additional Premises Commencement Date, Tenant shall be responsible for Operating Expenses for the Additional Premises from such earlier date of possession (the Additional Premises Commencement Date or such earlier date, as applicable, the “Expense Trigger Date”); and provided, further, that Landlord may annualize certain Operating Expenses incurred prior to the Expense Trigger Date over the course of the budgeted year during which the Expense Trigger Date occurs, and Tenant shall be responsible for the annualized portion of such Operating Expenses corresponding to the number of days during such year, commencing with the Expense Trigger Date, for which Tenant is otherwise liable for Operating Expenses with respect to the Additional Premises.  Tenant’s responsibility for Tenant’s Pro Rata Share of Operating Expenses with respect to the Additional Premises shall continue to the latest of (a) the date of termination of the Lease, and (b) the date Tenant has fully vacated the Additional Premises; provided that nothing in this Section 10.4 shall in any way limit Landlord’s remedies under Article 32 of the Original Lease.

EXHIBIT E
UTILITIES AND SERVICES
17.    Utilities and Services.
17.1    Commencing as of the Additional Premises Commencement Date, Tenant shall pay for all water (including the cost to service, repair and replace reverse osmosis, de-ionized and other treated water), gas, heat, light, power, telephone, internet service, cable television, other telecommunications and other utilities supplied to the Additional Premises, together with any fees, surcharges and taxes thereon.  If any such utility is not separately metered to Tenant, Tenant shall pay Tenant’s Pro Rata Share of all charges of such utility jointly metered with other premises as Additional Rent or, in the alternative, Landlord may, at its option, monitor the usage of such utilities by Tenant and charge Tenant with the cost of purchasing, installing and monitoring such metering equipment, which cost shall be paid by Tenant as Additional Rent.  Landlord may base its bills for utilities on reasonable estimates; provided that Landlord adjusts such billings as part of the next Landlord’s Statement (or more frequently, as determined by Landlord) to reflect the actual cost of providing utilities to the Additional Premises.  To the extent that Tenant uses more than Tenant’s Pro Rata Share of any utilities, then Tenant shall pay Landlord for Tenant’s Pro Rata Share of such utilities to reflect such excess.  In the event that the Building, North Campus or Project is less than fully occupied during a calendar year, Tenant acknowledges that Landlord may extrapolate utility usage that varies depending on the occupancy of the Building, North Campus or Project (as applicable) to equal Landlord’s reasonable estimate of what such utility usage would have been had the Building, North or Project, as applicable, been ninety-five percent (95%) occupied during such calendar year; provided, however, that Landlord shall not recover more than one hundred percent (100%) of the cost of such utilities.  Tenant shall not be liable for the cost of utilities supplied to the Additional Premises attributable to the time period prior to the Additional Premises Commencement Date; provided, however, that, if Landlord shall permit Tenant possession of the Additional Premises prior to the Additional Premises Commencement Date and Tenant uses the Additional Premises for any purpose other than placement of personal property as set forth in Section 6.3 of the Amendment to which this Exhibit E is attached, then Tenant shall be responsible for the cost of utilities supplied to the Additional Premises from such earlier date of possession.
17.2    Landlord shall not be liable for, nor shall any eviction of Tenant result from, the failure to furnish any utility or service, whether or not such failure is caused by Force Majeure; or, to the extent permitted by Applicable Laws, Landlord’s negligence.  In the event of such failure, Tenant shall not be entitled to termination of the Lease or any abatement or reduction of Rent, nor shall Tenant be relieved from the operation of any covenant or agreement of the Lease. 
17.3    Tenant shall pay for, prior to delinquency of payment therefor, any utilities and services that may be furnished to the Additional Premises during or, if Tenant occupies the Additional Premises after the expiration or earlier termination of the Additional Premises Term, after the Additional Premises Term, beyond those utilities provided by Landlord, including telephone, internet service, cable television and other telecommunications, together with any fees, surcharges and taxes thereon.  Upon Landlord’s demand, utilities and services provided to the Additional 

Premises that are separately metered shall be paid by Tenant directly to the supplier of such utilities or services.
17.4    Tenant shall not, without Landlord’s prior written consent, use any device in the Additional Premises (including data processing machines) that will in any way (a) increase the amount of ventilation, air exchange, gas, steam, electricity or water required or consumed in the Additional Premises based upon Tenant’s Pro Rata Share of the Building, North Campus or Project (as applicable) beyond the existing capacity of the Building, North Campus or the Project usually furnished or supplied for the Permitted Use or (b) exceed Tenant’s Pro Rata Share of the Building’s, North Campus’s or Project’s (as applicable) capacity to provide such utilities or services.
17.5    If Tenant shall require utilities or services in excess of those usually furnished or supplied for tenants in similar spaces in the Building, North Campus or the Project by reason of Tenant’s equipment or extended hours of business operations, then Tenant shall first procure Landlord’s consent for the use thereof, which consent Landlord may condition upon the availability of such excess utilities or services, and Tenant shall pay as Additional Rent an amount equal to the cost of providing such excess utilities and services.
17.6    Landlord reserves the right to stop service of the elevator, plumbing, ventilation, air conditioning and utility systems, when Landlord deems necessary or desirable, due to accident, emergency or the need to make repairs, alterations or improvements, until such repairs, alterations or improvements shall have been completed, and Landlord shall further have no responsibility or liability for failure to supply elevator facilities, plumbing, ventilation, air conditioning or utility service when prevented from doing so by Force Majeure or, to the extent permitted by Applicable Laws, Landlord’s negligence.  Without limiting the foregoing, it is expressly understood and agreed that any covenants on Landlord’s part to furnish any service pursuant to any of the terms, covenants, conditions, provisions or agreements of the Lease, or to perform any act or thing for the benefit of Tenant, shall not be deemed breached if Landlord is unable to furnish or perform the same by virtue of Force Majeure or, to the extent permitted by Applicable Laws, Landlord’s negligence.
17.7    For the Additional Premises, Landlord shall (a) maintain and operate the heating, ventilating and air conditioning (“HVAC”) systems used for the Permitted Use only (“Base HVAC”) and (b) subject to Subsection 17.7(a), furnish Base HVAC as reasonably required (except as the Lease otherwise provides) for reasonably comfortable occupancy of the Additional Premises twenty-four (24) hours a day, every day during the Additional Premises Term, subject to casualty, eminent domain or as otherwise specified in this Article.  Notwithstanding anything to the contrary in this Section, Landlord shall have no liability, and Tenant shall have no right or remedy, on account of any interruption or impairment in HVAC services.

EXHIBIT F
REPAIRS AND MAINTENANCE
19.    Repairs and Maintenance.
19.1    Landlord shall repair and maintain the structural and exterior portions and Common Area of Building 7 and the Project, including roofing and covering materials; foundations (excluding any architectural slabs, but including any structural slabs); exterior walls; plumbing; fire sprinkler systems (if any); base Building 7 HVAC systems up to the first damper or isolation valve that serves the Additional Premises (for purposes of clarity, the portion of the HVAC system that includes such first damper or isolation valve and extends into and through the Additional Premises, and any supplemental HVAC serving the Additional Premises shall not be part of the base Building 7 HVAC and shall be Tenant’s obligation to maintain and repair pursuant to Section 19.2 below); elevators; and base Building 7 electrical systems installed or furnished by Landlord.
19.2    Except for services of Landlord, if any, required by Section 19.1, Tenant shall at Tenant’s sole cost and expense maintain and keep the Additional Premises (including but not limited to the  portion of the HVAC system that includes the first damper or isolation valve and extends into and through the Additional Premises, any supplemental HVAC serving the Additional Premises, and any other systems or equipment exclusively serving the Additional Premises) and every part thereof in good condition and repair, damage thereto from ordinary wear and tear excepted, and shall, within ten (10) days after receipt of written notice from Landlord, provide to Landlord any maintenance records that Landlord reasonably requests.  Tenant shall, upon the expiration or sooner termination of the Additional Premises Term, surrender the Additional Premises to Landlord in as good a condition as when received, ordinary wear and tear excepted; and shall, at Landlord’s request and Tenant’s sole cost and expense, remove all telephone and data systems, wiring and equipment from the Additional Premises, and repair any damage to the Additional Premises caused thereby.  Landlord shall have no obligation to alter, remodel, improve, repair, decorate or paint the Additional Premises or any part thereof.
19.3    Landlord shall not be liable for any failure to make any repairs or to perform any maintenance that is Landlord’s obligation pursuant to this Article unless such failure shall persist for an unreasonable time after Tenant provides Landlord with written notice of the need of such repairs or maintenance.  Tenant waives its rights under Applicable Laws now or hereafter in effect to make repairs at Landlord’s expense.  
19.4    If any excavation shall be made upon land adjacent to or under Building 7, or shall be authorized to be made, Tenant shall afford to the person causing or authorized to cause such excavation, license to enter the Additional Premises for the purpose of performing such work as such person shall deem necessary or desirable to preserve and protect Building 7 from injury or damage and to support the same by proper foundations, without any claim for damages or liability against Landlord and without reducing or otherwise affecting Tenant’s obligations under the Lease.

19.5    This Article relates to repairs and maintenance arising in the ordinary course of operation of Building 7 and the Project.  In the event of a casualty described in Article 25, Article 25 shall apply in lieu of this Article.  In the event of eminent domain, Article 26 shall apply in lieu of this Article.
19.6    Costs incurred by Landlord pursuant to this Article shall constitute Operating Expenses.

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