Document:

Registration Rights Agreement

 Exhibit 10.2 

REGISTRATION RIGHTS AGREEMENT 

THIS REGISTRATION RIGHTS AGREEMENT is entered into as of [            ], 2010
by and among Hudson Pacific Properties, Inc., a Maryland corporation (the “Company”), and the holders listed on Schedule I hereto (each an “Initial Holder” and, collectively, the “Initial
Holders”). 
 RECITALS 

WHEREAS, in connection with the initial public offering (the “IPO”) of shares of the Company’s common stock, par
value $.01 per share (the “Common Stock”), the Company and Hudson Pacific Properties, L.P., a Maryland limited partnership (the “Operating Partnership”), have concurrently engaged in certain formation transactions
(the “Formation Transactions”), pursuant to which the Initial Holders have concurrently received, in exchange for their (or certain related parties’) respective interests in the entities participating in the Formation
Transactions or in exchange for services rendered, (i) preferred units of limited partnership interest in the Operating Partnership (“Preferred OP Units”), (ii) common units of limited partnership interest in the Operating
Partnership (“Common OP Units”) and/or (iii) shares of Common Stock; 
 WHEREAS, upon the terms and
subject to the conditions contained in the Operating Partnership Agreement (as defined below), Preferred OP Units will be convertible into Common OP Units and Common OP Units will be redeemable for cash or, at the Company’s option, exchangeable
for shares of Common Stock; 
 WHEREAS, concurrently with the IPO, the Company has sold shares of Common Stock to certain of the
Initial Holders in a private placement transaction (the “Concurrent Private Placement”) exempt from the registration requirements of the Securities Act of 1933, as amended (together with the rules and regulations promulgated
thereunder, the “Securities Act”); and 
 WHEREAS, as a condition to receiving the consent of the Initial
Holders to the Formation Transactions and in connection with the Concurrent Private Placement, the Company has agreed to grant the Initial Holders and their permitted assignees and transferees the registration rights set forth in Article II hereof.

 NOW, THEREFORE, in consideration of the premises and the mutual agreements herein contained, and for good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 ARTICLE I

 DEFINITIONS 

Section 1.1. Definitions. In addition to the definitions set forth above, the following terms, as used herein, have the
following meanings: 
 “Affiliate” of any Person means any other Person directly or indirectly controlling or
controlled by or under common control with such Person. For the purposes of this definition, 

 
“control” when used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such
Person, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 

“Agreement” means this Registration Rights Agreement, as it may be amended, supplemented or restated from time to time.

 “Business Day” means any day except a Saturday, Sunday or other day on which commercial banks in The City of
New York, New York or Los Angeles, California are authorized by law to close. 
 “Charter” means the Articles
of Amendment and Restatement of the Company as filed with the Secretary of State of the State of Maryland on [            ], 2010, as the same may be amended, modified or restated from time
to time. 
 “Commission” means the Securities and Exchange Commission. 

“Company Piggy-Back Registration” has the meaning set forth in Section 2.1(a). 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated
thereunder. 
 “Exchangeable Common OP Units” means Common OP Units which may be redeemable for cash or, at the
Company’s option, exchangeable for shares of Common Stock pursuant to the Operating Partnership Agreement (without regard to any limitations on the exercise of such exchange right as a result of the Ownership Limit Provisions). 

“Exchangeable Preferred OP Units” means Preferred OP Units which are convertible into Exchangeable Common OP Units
pursuant to the Operating Partnership Agreement (without regard to any limitations on the exercise of such exchange right as a result of the Ownership Limit Provisions). 

“Farallon Demand Registration” has the meaning set forth in Section 2.1(a). 

“Farallon Demand Registration Statement” has the meaning set forth in Section 2.1(a). 

“Farallon Holder” means any Holder that is an Affiliate of Farallon Capital Management, L.L.C., a Delaware limited
liability company. 
 “Farallon Piggy-Back Registration” shall have the meaning set forth in Section 2.2.

 “Holder” means (i) any Initial Holder who is the record or beneficial owner of any Registrable Security
or (ii) any assignee or transferee of such Initial Holder (including assignments or transfers of Registrable Securities to such assignees or transferees as a result of the foreclosure on any loans secured by such Registrable Securities)
(x) to the extent permitted under the Operating Partnership Agreement or the Charter, as applicable, and (y) provided such assignee or transferee agrees in writing to be bound by all the provisions hereof. 

 

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 “Initial Period” means a period commencing on the date hereof and ending
365 days following the effective date of the first Resale Shelf Registration Statement (except that, if the shares of Common Stock issuable upon exchange of Exchangeable Common OP Units received in the Formation Transactions are not included in that
Resale Shelf Registration Statement as a result of Section 2.4(b), the 365 days shall not begin until the later of the effective date of (i) the first Resale Shelf Registration Statement and (ii) the first Issuer Shelf Registration
Statement). 
 “Issuer Shelf Registration Statement” has the meaning set forth in Section 2.4(b).

 “Market Value” means, with respect to the Common Stock, the average of the daily market price for the ten
(10) consecutive trading days immediately preceding the date of a written request for registration pursuant to Section 2.1(a). The market price for each such trading day shall be: (i) if the Common Stock is listed or admitted to
trading on any securities exchange or the NASDAQ-National Market System, the closing price, regular way, on such day, or if no such sale takes place on such day, the average of the closing bid and asked prices on such day, in either case as reported
in the principal consolidated transaction reporting system, (ii) if the Common Stock is not listed or admitted to trading on any securities exchange or the NASDAQ-National Market System, the last reported sale price on such day or, if no sale
takes place on such day, the average of the closing bid and asked prices on such day, as reported by a reliable quotation source designated by the Company, or (iii) if the Common Stock is not listed or admitted to trading on any securities
exchange or the NASDAQ-National Market System and no such last reported sale price or closing bid and asked prices are available, the average of the reported high bid and low asked prices on such day, as reported by a reliable quotation source
designated by the Company, or if there shall be no bid and asked prices on such day, the average of the high bid and low asked prices, as so reported, on the most recent day (not more than (10) days prior to the date in question) for which
prices have been so reported; provided that if there are no bid and asked prices reported during the ten (10) days prior to the date in question, the Market Value of the Common Stock shall be determined by the Board of Directors of the
Company acting in good faith on the basis of such quotations and other information as it considers, in its reasonable judgment, appropriate. 

“Notice and Questionnaire” means a written notice, substantially in the form attached as Exhibit A , delivered by
a Holder to the Company (i) notifying the Company of such Holder’s desire to include Registrable Securities held by it in a Resale Shelf Registration Statement, (ii) containing all information about such Holder required to be included
in such registration statement in accordance with applicable law, including Item 507 of Regulation S-K promulgated under the Securities Act, as amended from time to time, or any similar successor rule thereto, and (iii) pursuant to which
such Holder agrees to bound by the terms and conditions hereof. 
 “Operating Partnership Agreement” means the
Amended & Restated Agreement of Limited Partnership of the Operating Partnership, dated as of [            ], 2010, as the same may be amended, modified or restated from time to
time. 
  

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 “Ownership Limit Provisions” mean the various provisions of the
Company’s Charter set forth in [Article VI] thereof restricting the ownership of Common Stock by Persons to specified percentages of the outstanding Common Stock. 

“Person” means an individual or a corporation, partnership, limited liability company, association, trust, or any other
entity or organization, including a government or political subdivision or an agency or instrumentality thereof. 

“Registrable Securities” means with respect to any Holder, shares of Common Stock owned, either of record or
beneficially, by such Holder that were (a) received by such Holder or an Initial Holder in the Formation Transactions, (b) acquired by such Holder or an Initial Holder directly from the underwriters or the Company in the IPO or the
Concurrent Private Placement, in each case in a transaction disclosed in the registration statement relating to the IPO, (c) issued or issuable upon exchange of Exchangeable Common OP Units, including Exchangeable Common OP Units issuable upon
conversion of Exchangeable Preferred OP Units received by such Holder or an Initial Holder in the Formation Transactions, (d) solely in the case of any Farallon Holder, any Common Stock acquired by such Farallon Holder in the open market after
the date hereof and prior to the second anniversary of this Agreement, and, (e) in the case of (a), (b), (c) and (d), any additional shares of Common Stock issued as a dividend or distribution on, inexchange for, or otherwise in respect
of, such shares (including as a result of combinations, recapitalizations, mergers, consolidations, reorganizations or otherwise). 

As to any particular Registrable Securities, they shall cease to be Registrable Securities at the earliest time as one of the following
shall have occurred: (i) a registration statement (including a Resale Shelf Registration Statement) covering such shares has been declared effective by the Commission and all such shares have been disposed of pursuant to such effective
registration statement or unless such shares (other than Restricted Shares) were issued pursuant to an effective registration statement (including an Issuer Shelf Registration Statement), (ii) such shares have been publicly sold under Rule 144,
(iii) all such shares may be sold in one transaction pursuant to Rule 144 or (iv) such shares have been otherwise transferred in a transaction that constitutes a sale thereof under the Securities Act, the Company has delivered to the
Holder’s transferee a new certificate or other evidence of ownership for such shares not bearing the Securities Act restricted stock legend and such shares subsequently may be resold or otherwise transferred by such transferee without
registration under the Securities Act. 
 “Resale Shelf Registration” shall have the meaning set forth in
Section 2.4(a). 
 “Resale Shelf Registration Statement” shall have the meaning set forth in
Section 2.4(a). 
 “Restricted Shares” means shares of Common Stock issued under an Issuer Shelf
Registration Statement which if sold by the holder thereof would constitute “restricted securities” as defined under Rule 144. 

“Rule 144” means Rule 144 promulgated under the Securities Act, as amended from time to time, or any similar successor
rule thereto that may be promulgated by the Commission. 
  

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 “Selling Holder” means a Holder who is selling Registrable Securities
pursuant to a registration statement under the Securities Act pursuant to the terms hereof. 
 “Shelf Registration
Statement” means a Resale Shelf Registration Statement and/or an Issuer Shelf Registration Statement. 

“Suspension Notice” means any written notice delivered by the Company pursuant to Section 2.14 with respect to the
suspension of rights under a Resale Shelf Registration Statement or any prospectus contained therein. 

“Underwriter” means a securities dealer who purchases any Registrable Securities as principal and not as part of such
dealer’s market-making activities. 
 ARTICLE II 

REGISTRATION RIGHTS 

Section 2.1. Underwritten Demand Registration. 

(a) Commencing on or after the date that is one hundred eighty (180) days after the consummation date of the IPO and until such
time as a Resale Shelf Registration Statement has been declared effective, the Farallon Holder(s) may collectively make one written request to the Company for registration of an underwritten offering under the Securities Act of all or part of its or
their Common Stock constituting Registrable Securities (a “Farallon Demand Registration”); provided, however, that the Registrable Securities to be sold by Farallon Holders pursuant to such Farallon Demand Registration
may not exceed twenty-five (25) percent of the Registrable Securities received by all Farallon Holders in the Formation Transactions and the Concurrent Private Placement. The Company shall prepare and file a registration statement on an
appropriate form with respect to any Farallon Demand Registration (the “Farallon Demand Registration Statement”) and shall use its reasonable efforts to cause the Farallon Demand Registration Statement to be declared effective by
the Commission as promptly as reasonably practicable after the filing thereof. The Company shall not be obligated to effect more than one Farallon Demand Registration. Any request for a Farallon Demand Registration will specify the number of shares
of Registrable Securities proposed to be sold in the underwritten offering. The Company shall have the opportunity to register such number of shares of Common Stock as it may elect on the Farallon Demand Registration Statement and as part of the
same underwritten offering in connection with a Farallon Demand Registration (a “Company Piggy-Back Registration”). Unless the Farallon Holders shall consent in writing, no party, other than the Company, shall be permitted to offer
securities in connection with any such Farallon Demand Registration. 
 (b) Effective Registration. A registration
requested by the Farallon Holder(s) under Section 2.1(a) will not count as a Farallon Demand Registration unless and until the related Farallon Demand Registration Statement has been declared effective by the Commission. 

(c) Underwriters. The Company shall select the book-running managing Underwriter in connection with any Farallon Demand
Registration; provided that such managing Underwriter must be reasonably satisfactory to the Farallon Holders. The 
  

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Company may select any additional investment banks and managers to be used in connection with the offering; provided that such additional investment bankers and managers must be reasonably
satisfactory to the Farallon Holders. 
 Section 2.2. Piggy-Back Registration. If the Company proposes to file a
registration statement under the Securities Act with respect to an underwritten offering of Common Stock by the Company for its own account (other than (i) any registration statement filed in connection with a demand registration by a party
other than a Farallon Holder or (ii) a registration statement on Form S-4 or S-8 (or any substitute form that may be adopted by the Commission) or filed in connection with an exchange offer or offering of securities solely to the Company’s
existing securityholders), then the Company shall give written notice of such proposed filing to the Farallon Holders as soon as practicable (but in no event less than ten (10) days before the anticipated filing date), and such notice shall
offer such Farallon Holders the opportunity to register such number of shares of Registrable Securities as each such Farallon Holder may request (a “Farallon Piggy-Back Registration”); provided, that if and so long as a Shelf
Registration Statement is on file and effective, then the Company shall have no obligation to effect a Farallon Piggy-Back Registration. The Company shall use its commercially reasonable efforts to cause the managing Underwriter(s) of a proposed
underwritten offering to permit the Registrable Securities requested to be included in a Farallon Piggy-Back Registration to be included on the same terms and conditions as any similar securities of the Company included therein. Participation in a
Farallon Piggy-Back Registration as provided in this Section 2.2 shall not count as a Farallon Demand Registration for purposes of Section 2.1. 

Section 2.3. Reduction of Offering. Notwithstanding anything contained in Sections 2.1 and 2.2, if the managing
Underwriter(s) of an offering described in Section 2.1 or 2.2 advise in writing the Company and the Farallon Holders that the size of the intended offering is such that the success of the offering would be significantly and adversely affected
by inclusion of (i) the Registrable Securities requested to be included by Farallon in a Farallon Piggy-Back Registration or (ii) the Common Stock requested to be included by the Company in a Farallon Demand Registration/Company Piggy-Back
Registration, then: (x) in the case of a Farallon Demand Registration/ Company Piggy-Back Registration, the amount of the Common Stock to be offered for the account of the Company shall be reduced to the extent necessary to reduce the total
amount of securities to be included in such offering to the amount recommended by such managing Underwriter(s), provided, that the amount of securities to be offered by the Company shall not be reduced to less than fifty (50) percent of
the total number of securities to be included in such offering; and (y) in the case of a Farallon Piggy-Back Registration, the amount of securities to be offered for the accounts of Farallon Holders shall be reduced to the extent necessary to
reduce the total amount of securities to be included in such offering to the amount recommended by such managing Underwriter(s), provided, that the amount of securities to be offered by the Farallon Holders shall not be reduced to less than
thirty (30) percent of the total number of securities to be included in such offering. 
 Section 2.4. Shelf
Registration. 
 (a) Subject to Section 2.14, the Company shall prepare and file not later than fourteen
(14) months after the consummation date of the IPO, a “shelf” registration statement with respect to the resale of the Registrable Securities (“Resale Shelf Registration”)

  

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by the Holders thereof on an appropriate form for an offering to be made on a delayed or continuous basis pursuant to Rule 415 under the Securities Act (the “Resale Shelf Registration
Statement”) and permitting registration of such Registrable Securities for resale by such Holders in accordance with the methods of distribution elected by the Holders and set forth in the Resale Shelf Registration Statement. The Company
shall use its reasonable efforts to cause the Resale Shelf Registration Statement to be declared effective by the Commission as promptly as reasonably practicable after the filing thereof, and, subject to Sections 2.4(d) and 2.14, to keep such
Resale Shelf Registration Statement continuously effective for a period ending when all shares of Common Stock covered by the Resale Shelf Registration Statement are no longer Registrable Securities. 

At the time the Resale Shelf Registration Statement is declared effective, each Holder that has delivered a duly completed and executed
Notice and Questionnaire to the Company on or prior to the date ten (10) Business Days prior to such time of effectiveness shall be named as a selling securityholder in the Resale Shelf Registration Statement and the related prospectus in such
a manner as to permit such Holder to deliver such prospectus to purchasers of Registrable Securities in accordance with applicable law. If required by applicable law, subject to the terms and conditions hereof, after effectiveness of the Resale
Shelf Registration Statement, the Company shall file a supplement to such prospectus or amendment to the Resale Shelf Registration Statement not less than once a quarter as necessary to name as selling securityholders therein any Holders that
provide to the Company a duly completed and executed Notice and Questionnaire and shall use reasonable efforts to cause any post-effective amendment to such Resale Shelf Registration Statement filed for such purpose to be declared effective by the
Commission as promptly as reasonably practicable after the filing thereof. 
 (b) The Company may, at its option, satisfy its
obligation to prepare and file a Resale Shelf Registration Statement pursuant to Section 2.4(a) with respect to shares of Common Stock issuable upon exchange of Exchangeable Common OP Units (including Exchangeable Common OP Units issuable upon
conversion of Exchangeable Preferred OP Units) by preparing and filing with the Commission not later than fourteen (14) months after the consummation date of the IPOa registration statement on an appropriate form for an offering to be made on a
delayed or continuous basis pursuant to Rule 415 under the Securities Act (an “Issuer Shelf Registration Statement”) providing for (i) the issuance by the Company, from time to time, to the Holders of such Exchangeable Common
OP Units or Exchangeable Preferred OP Units, of shares of Common Stock registered under the Securities Act (the “Primary Shares”) and (ii) to the extent such Primary Shares constitute Restricted Shares, the registered resale
thereof by their Holders from time to time in accordance with the methods of distribution elected by the Holders and set forth therein (but except as provided in Section 2.4(c) below, not an underwritten offering). The Company shall use
its reasonable efforts to cause the Issuer Shelf Registration Statement to be declared effective by the Commission as promptly as reasonably practicable after filing thereof and, subject to Sections 2.4(d) and 2.14, to keep the Issuer Shelf
Registration Statement continuously effective for a period (the “Effectiveness Period”) expiring on the date all of the shares of Common Stock covered by such Issuer Shelf Registration Statement have been issued by the Company
pursuant thereto or are no longer Registrable Securities. If the Company shall exercise its rights under this Section 2.4(b), Holders (other than Holders of Restricted Shares) shall have no right to have shares of Common Stock issued or
issuable upon exchange of Exchangeable Common OP Units 
  

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(including Exchangeable Common OP Units issuable upon conversion of Exchangeable Preferred OP Units) included in a Resale Shelf Registration Statement pursuant to Section 2.4(a). 

(c) Underwritten Registered Resales. Any offering under a Resale Shelf Registration Statement or by Holders under an Issuer Shelf
Registration Statement shall be underwritten at the written request of Holders of Registrable Securities under such registration statement that hold in the aggregate at least 10% of the Registrable Securities originally issued in the Formation
Transactions (provided, that the Registrable Securities requested to be registered in such underwritten offering shall either (i) have a Market Value of at least $25,000,000 on the date of such request or (ii) shall represent all
remaining Registrable Securities held by all Farallon Holders and shall have a Market Value of at least $10,000,000 on the date of such request; provided, further, that the Company shall not be obligated to effect more than three
underwritten offerings under this Section 2.4(c) and Section 2.1(a), taken together; and provided, further, that the Company shall not be obligated to effect, or take any action to effect, an underwritten offering
(i) within 120 days following the last date on which an underwritten offering was effected pursuant to this Section 2.4(c) or Section 2.1(a) or during any lock-up period required by the underwriters in any prior underwritten offering
conducted by the Company on its own behalf or on behalf of selling stockholders, or (ii) during the period commencing with the date thirty (30) days prior to the Company’s good faith estimate of the date of filing of (provided the
Company is actively employed in good faith commercially reasonable efforts to file such registration statement), and ending on a date ninety (90) days after the effective date of, a registration statement with respect to an offering by the
Company. Any request for an underwritten offering hereunder shall be made to the Company in accordance with the notice provisions of this Agreement. 

(d) Subsequent Filing. The Company shall prepare and file such additional registration statements as necessary every three
(3) years and use its reasonable efforts to cause such registration statements to be declared effective by the Commission so that a Shelf Registration Statement remains continuously effective, subject to Section 2.14, with respect to
resales of Registrable Securities as and for the periods required under Section 2.4(a) or (b), as applicable (such subsequent registration statements to constitute a Resale Shelf Registration Statement or an Issuer Shelf Registration Statement,
as the case may be, hereunder). 
 (e) Selling Holders Become Party to Agreement. Each Holder acknowledges that by
participating in its registration rights pursuant to this Agreement, such Holder will be deemed a party to this Agreement and will be bound by its terms, notwithstanding such Holder’s failure to deliver a Notice and Questionnaire; provided,
that any Holder that has not delivered a duly completed and executed Notice and Questionnaire shall not be entitled to be named as a Selling Holder in, or have the Registrable Securities held by it covered by, a Resale Shelf Registration Statement
or an Issuer Shelf Registration Statement. 
 Section 2.5. Reduction of Offering. Notwithstanding anything contained
herein, if the managing Underwriter(s) of an offering described in Section 2.4(c) advise in writing the Company and the Holder(s) of the Registrable Securities included in such offering that the size of the intended offering is such that the
success of the offering would be significantly adversely 
  

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affected by inclusion of all the Registrable Securities requested to be included, then the amount of securities to be offered for the accounts of Holders shall be reduced pro rata
(according to the Registrable Securities requested for inclusion) to the extent necessary to reduce the total amount of securities to be included in such offering to the amount recommended by such managing Underwriter(s) but in priority to any
securities proposed to be sold by any other holders of securities of the Company with registration rights to participate therein. The Company shall have the opportunity to include such number of securities as it may elect in an offering described in
Section 2.4(c); provided, if the managing Underwriter(s) of such offering advise in writing the Company and the Holder(s) of the Registrable Securities requested to be included that the success of the offering would be significantly
adversely affected by inclusion of all the securities requested to be included by the Company, then the amount of securities to be offered for the account of the Company shall be reduced to the extent necessary to reduce the total amount of
securities to be included in such offering to the amount recommended by such managing Underwriter(s); provided, further, the amount of securities to be offered by the Company shall not be reduced to less than fifty (50) percent of
the total number of securities to be included in such offering. 
 Section 2.6. Registration Procedures; Filings;
Information. Subject to Section 2.14 hereof, in connection with any Resale Shelf Registration Statement under Section 2.4(a), the Company will use its reasonable efforts to effect the registration of the Registrable Securities covered
thereby in accordance with the intended method of disposition thereof as quickly as practicable, and, in connection with any Issuer Shelf Registration Statement under Section 2.4(b), the Company will use its reasonable efforts to effect the
registration of the Primary Shares (including for resale, to the extent provided in clause (ii) of Section 2.4(b)) as quickly as reasonably practicable. In connection with any Shelf Registration Statement: 

(a) The Company will no later than two (2) Business Days prior to filing a Resale Shelf Registration Statement (or an Issuer Shelf
Registration Statement providing for resales pursuant to clause (ii) of Section 2.4(b)) or prospectus or any amendment or supplement thereto, furnish to each Selling Holder and each Underwriter, if any, of the Registrable Securities
covered by such registration statement copies of such registration statement as proposed to be filed, and thereafter furnish to such Selling Holder and Underwriter, if any, such number of conformed copies of such registration statement, each
amendment and supplement thereto (in each case including all exhibits thereto and documents incorporated by reference therein), the prospectus included in such registration statement (including each preliminary prospectus) and such other documents
as such Selling Holder or Underwriter may reasonably request in order to facilitate the disposition of the Registrable Securities owned by such Selling Holder. 

(b) After the filing of a Resale Shelf Registration Statement (or an Issuer Shelf Registration Statement providing for resales pursuant
to clause (ii) of Section 2.4(b)), the Company will promptly notify each Selling Holder of Registrable Securities covered by such registration statement of any stop order issued or threatened by the Commission and take all reasonable
actions required to prevent the entry of such stop order or to remove it if entered. 
  

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 (c) The Company will use its reasonable efforts to (i) register or qualify the
Registrable Securities under such other securities or “blue sky” laws of such jurisdictions in the United States (where an exemption does not apply) as any Selling Holder or managing Underwriter(s), if any, reasonably (in light of such
Selling Holder’s intended plan of distribution) requests and (ii) cause such Registrable Securities to be registered with or approved by such other governmental agencies or authorities as may be necessary by virtue of the business and
operations of the Company and do any and all other acts and things that may be reasonably necessary or advisable to enable such Selling Holder to consummate the disposition of the Registrable Securities owned by such Selling Holder; provided that
the Company will not be required to (A) qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify but for this paragraph (c), (B) subject itself to general taxation in any such jurisdiction or
(C) consent to general service of process in any such jurisdiction. The Company will promptly notify each Selling Holder of the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable
Securities for sale under the securities or “blue sky” laws of any jurisdiction or the initiation of any proceeding for such purpose. 

(d) The Company will immediately notify each Selling Holder of such Registrable Securities, at any time when a prospectus relating
thereto is required to be delivered under the Securities Act, of (i) the Company’s receipt of any notification of the suspension of the qualification of any Registrable Securities covered by a Resale Shelf Registration Statement (or an
Issuer Shelf Registration Statement providing for resales pursuant to clause (ii) of Section 2.4(b)) for sale in any jurisdiction; or (ii) the occurrence of an event requiring the preparation of a supplement or amendment to such
prospectus so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus will not contain an untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to
make the statements therein, in light of the circumstances under which they were made, not misleading and promptly make available to each Selling Holder any such supplement or amendment. 

(e) The Company will otherwise use its reasonable efforts to comply with all applicable rules and regulations of the Commission, and
make available to its securityholders, as soon as reasonably practicable, an earnings statement covering a period of 12 months, beginning within three months after the effective date of the registration statement, which earnings statement shall
satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 of the Commission promulgated thereunder (or any successor rule or regulation hereafter adopted by the Commission). 

(f) In the case of an underwritten offering pursuant to a Resale Shelf Registration Statement (or an Issuer Shelf Registration Statement
providing for resales pursuant to clause (ii) of Section 2.4(b)), the Company will enter into and perform its obligations under customary agreements (including an underwriting agreement, if any, in customary form) and take such other
actions as are reasonably required in order to expedite or facilitate the disposition of the Registrable Securities (including, to the extent reasonably requested by the lead or managing Underwriters, sending appropriate officers of the Company to
attend “road shows” scheduled in reasonable number and at reasonable times in connection with any such underwritten offering, and obtaining customary comfort letters and legal opinions) subject to such underwritten offering. 

 

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 (g) In the case of an underwritten offering pursuant to a Resale Shelf Registration
Statement, the Company will make available for inspection by any Selling Holder of Registrable Securities subject to such underwritten offering, any Underwriter participating in any disposition of such Registrable Securities and any attorney,
accountant or other professional retained by any such Selling Holder or Underwriter, all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”) as shall be reasonably
necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information reasonably requested by any Inspectors in connection with such registration statement,
subject to entry by each such customary confidentiality agreement in a form reasonably acceptable to the Company. 
 (h) The
Company will use its reasonable efforts to cause all Registrable Securities covered by such Resale Shelf Registration Statement or Primary Shares covered by such Issuer Shelf Registration Statement to be listed on each securities exchange on which
similar securities issued by the Company are then listed. 
 (i) In addition to the Notice and Questionnaire, the Company may
require each Selling Holder of Registrable Securities to promptly furnish in writing to the Company such information regarding such selling Holder, the Registrable Securities held by it and the intended method of distribution of the Registrable
Securities as the Company may from time to time reasonably request and such other information as may be legally required in connection with such registration. No Holder may include Registrable Securities in any registration statement pursuant to
this Agreement unless and until such Holder has furnished to the Company such information. Each Holder further agrees to furnish as soon as reasonably practicable to the Company all information required to be disclosed in order to make information
previously furnished to the Company by such Holder not materially misleading. 
 (j) Each Selling Holder agrees that, upon
receipt of any notice from the Company of the happening of any event of the kind described in Section 2.5(b) or 2.5(d) or upon receipt of a Suspension Notice, such Selling Holder will forthwith discontinue disposition of Registrable Securities
pursuant to the registration statement covering such Registrable Securities until such Selling Holder’s receipt of written notice from the Company that such disposition may be made and, in the case of clause (ii) of Section 2.5(d) or,
if applicable, Section 2.14, copies of any supplemented or amended prospectus contemplated by clause (ii) of Section 2.5(d) or, if applicable, prepared under Section 2.14, and, if so directed by the Company, such Selling Holder
will deliver to the Company all copies, other than permanent file copies then in such Selling Holder’s possession, of the most recent prospectus covering such Registrable Securities at the time of receipt of such notice. Each Selling Holder of
Registrable Securities agrees that it will immediately notify the Company at any time when a prospectus relating to the registration of such Registrable Securities is required to be delivered under the Securities Act of the happening of an event as
a result of which information previously furnished by such Selling Holder to the Company in writing for inclusion in such prospectus contains an untrue statement of a material fact or omits to state any material fact required to be stated therein or
necessary to make the statements therein not misleading in light of the circumstances in which they were made. 
  

 11 

 Section 2.7. Registration Expenses. In connection with any registration
statement required to be filed hereunder, the Company shall pay the following registration expenses incurred in connection with the registration hereunder (the “Registration Expenses”), regardless whether such registration statement
is declared effective by the Commission: (i) all registration and filing fees, (ii) fees and expenses of compliance with securities or “blue sky” laws (including reasonable fees and disbursements of counsel in connection with
blue sky qualifications of the Registrable Securities), (iii) printing expenses, (iv) internal expenses (including, without limitation, all salaries and expenses of its officers and employees performing legal or accounting duties),
(v) the fees and expenses incurred in connection with the listing of the Registrable Securities, (vi) reasonable fees and disbursements of counsel for the Company and customary fees and expenses for independent certified public accountants
retained by the Company, (vii) all fees and disbursements of the Company’s auditors, including in connection with the preparation of comfort letters, and any transfer agent and registrar fees, and (viii) the reasonable fees and
expenses of any special experts retained by the Company in connection with such registration; provided, however, if a Farallon Holder exercises any Farallon Demand Registration pursuant to Section 2.1(a) or elects to conduct an
underwritten offering pursuant to Section 2.1(c) and the Company does not elect to make a Company Piggy-Back Registration with respect thereto or to include shares in such underwritten offering pursuant to Section 2.1(c) , then the
Farallon Holders shall reimburse the Company for one hundred (100) percent of Registration Expenses with respect to any Farallon Demand Registration or request for an underwritten public offering by the Farallon Holders made in 2010 and fifty
(50) percent of Registration Expenses with respect to any Farallon Demand Registration or request for an underwritten public offering by Farallon made thereafter. The Company shall have no obligation to pay any fees, discounts or commissions
attributable to the sale of Registrable Securities, or any out-of-pocket expenses of the Holders (or the agents who manage their accounts) or any transfer taxes relating to the registration or sale of the Registrable Securities. 

Section 2.8. Indemnification by the Company. The Company agrees to indemnify and hold harmless each Selling Holder of
Registrable Securities, its officers, directors, agents, partners, members, employees, managers, advisors, sub-advisors, attorneys, representatives and affiliates, and each Person, if any, who controls such Selling Holder within the meaning of
Section 15 of the Securities Act or Section 20 of the Exchange Act from and against, as incurred, any and all losses, claims, damages and liabilities (or actions in respect thereof) that arise out of or are based upon any untrue statement
or alleged untrue statement of a material fact contained in any registration statement, preliminary prospectus, prospectus, or free writing prospectus relating to the Registrable Securities (in each case, as amended or supplemented if the Company
shall have furnished any amendments or supplements thereto), or that arise out of or are based upon any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in light
of the circumstances under which they were made, not misleading, except insofar as such losses, claims, damages or liabilities arise out of or are based upon any such untrue statement or omission or alleged untrue statement or omission included in
reliance upon and in conformity with information furnished in writing to the Company by such Selling Holder or on such Selling Holder’s behalf expressly for inclusion therein. 

 

 12 

 Section 2.9. Indemnification by Holders of Registrable Securities. Each Selling
Holder agrees, severally but not jointly or jointly and severally, to indemnify and hold harmless the Company, its officers, directors, agents, employees, attorneys, representatives and affiliates and each Person, if any, who controls the Company
within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Company to such Selling Holder, but only with respect to information relating to such
Selling Holder included in reliance upon and in conformity with information furnished in writing by such Selling Holder or on such Selling Holder’s behalf expressly for use in any registration statement, preliminary prospectus, prospectus or
free writing prospectus relating to the Registrable Securities, or any amendment or supplement thereto. In case any action or proceeding shall be brought against the Company or its officers, directors or agents or any such controlling person, in
respect of which indemnity may be sought against such Selling Holder, such Selling Holder shall have the rights and duties given to the Company, and the Company or its officers, directors or agents or such controlling person shall have the rights
and duties given to such Selling Holder, by Section 2.10; provided, however, that the total obligations of such Selling Holder under this Agreement (including, but not limited to, obligations arising under Section 2.11
herein) will be limited to an amount equal to the net proceeds actually received by such Selling Holder (after deducting any discounts and commissions) from the disposition of Registrable Securities pursuant to such registration statement.

 Section 2.10. Conduct of Indemnification Proceedings. In case any proceeding (including any governmental
investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 2.8 or 2.9, such person (an “Indemnified Party”) shall promptly notify the person against whom such
indemnity may be sought (an “Indemnifying Party”) in writing and the Indemnifying Party shall assume the defense thereof, including the employment of counsel reasonably satisfactory to such Indemnified Party, and shall assume the
payment of all fees and expenses; provided, however, that the failure of any Indemnified Party to give such notice will not relieve such Indemnifying Party of any obligations under this Section 2, except to the extent such Indemnifying Party is
materially prejudiced by such failure. In any such proceeding, any Indemnified Party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party unless (i) the
Indemnifying Party and the Indemnified Party shall have mutually agreed to the retention of such counsel or (ii) representation of the Indemnified Party by the counsel retained by the Indemnifying Party would be inappropriate due to actual or
potential differing interests between the Indemnified Party and the Indemnified Party. It is understood that the Indemnifying Party shall not, in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the
reasonable fees and expenses of more than one separate firm of attorneys (in addition to any local counsel) at any time for all such Indemnified Parties, and that all such fees and expenses shall be reimbursed as they are incurred. In the case of
any such separate firm for the Indemnified Parties, such firm shall be designated in writing by (i) in the case of Persons indemnified pursuant to Section 2.8 hereof, the Selling Holders which owned a majority of the Registrable Securities
sold under the applicable registration statement and (ii) in the case of Persons indemnified pursuant to Section 2.9, the Company. The Indemnifying Party shall not be liable for any settlement of any proceeding effected without its written
consent, which consent shall not be unreasonably withheld, but if settled with such consent, or if there be a final judgment for the plaintiff, the Indemnifying Party shall indemnify and hold harmless such Indemnified Parties from and against any
loss or liability (to the extent stated above) by reason 
  

 13 

 
of such settlement or judgment. No Indemnifying Party shall, without the prior written consent of the Indemnified Party, which consent shall not be unreasonably withheld, effect any settlement of
any pending or threatened proceeding in respect of which any Indemnified Party is or could have been a party and indemnity could have been sought hereunder by such Indemnified Party, unless such settlement includes an unconditional release of such
Indemnified Party from all liability arising out of such proceeding without any admission of liability by such Indemnified Party. 

Section 2.11. Contribution. If the indemnification provided for in Section 2.8 or 2.9 hereof is held by a court of
competent jurisdiction to be unavailable to an Indemnified Party or insufficient in respect of any losses, claims, damages or liabilities that otherwise would have been covered by Section 2.8 or 2.9 hereof, then each such Indemnifying Party, in
lieu of indemnifying such Indemnified Party, shall contribute to the amount paid or payable by such Indemnified Party as a result of such losses, claims, damages or liabilities in such proportion as is appropriate to reflect the relative fault of
the Company, on the one hand, and of each Selling Holder, on the other hand, in connection with such statements or omissions which resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The
relative fault of the Company on the one hand and of each Selling Holder on the other shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to
state a material fact relates to information supplied by such party. 
 The Company and the Selling Holders agree that it would
not be just and equitable if contribution pursuant to this Section 2.11 were determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to in the immediately
preceding paragraph. The amount paid or payable by an Indemnified Party as a result of the losses, claims, damages or liabilities referred to in the immediately preceding paragraph shall be deemed to include, subject to the limitations set forth
above, any legal or other expenses reasonably incurred by such Indemnified Party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 2.11, no Selling Holder shall be required to
contribute any amount which in the aggregate exceeds the amount by which the net proceeds actually received by such Selling Holder from the sale of its securities to the public exceeds the amount of any damages which such Selling Holder has
otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled
to contribution from any person who was not guilty of such fraudulent misrepresentation. The Selling Holder’s obligations to contribute pursuant to this Section 2.11, if any, are several in proportion to the proceeds of the offering
actually received by such Selling Holder bears to the total proceeds of the offering received by all the Selling Holders and not joint. 

Section 2.12. Rule 144. The Company covenants that it will (a) make and keep public information regarding the Company
available as those terms are defined in Rule 144, (b) file in a timely manner any reports and documents required to be filed by it under the Securities Act and the Exchange Act, (c) furnish to any Holder forthwith upon request (i) a
written statement by the Company as to its compliance with the reporting requirements of Rule 144 (at any time more than 90 days after the effective date of the registration statement for the Company’s initial public

  

 14 

 
offering), the Securities Act and the Exchange Act (at any time after it has become subject to such reporting requirements), and (ii) a copy of the most recent annual or quarterly report of
the Company and such other reports and documents so filed by the Company, and (d) take such further action as any Holder may reasonably request, all to the extent required from time to time to enable Holders to sell Registrable Securities
without registration under the Securities Act within the limitation of the exemptions provided by Rule 144. 

Section 2.13. Participation in Underwritten Offerings. No Person may participate in any underwritten offerings hereunder
unless such Person (a) agrees to sell such Person’s securities on the basis provided in any underwriting arrangements approved by the Persons entitled hereunder to approve such arrangements and (b) completes and executes all
questionnaires, powers of attorney, indemnities, underwriting agreements and other documents reasonably required under the terms of such underwriting arrangements and these registration rights provided for in this Article II. 

Section 2.14. Suspension of Use of Registration Statement. 

(a) If the Board of Directors of the Company determines in its good faith judgment that the filing of a Resale Shelf Registration
Statement under Section 2.4(a) or the use of any related prospectus would be materially detrimental to the Company because such action would require the disclosure of material information that the Company has a bona fide business purpose for
preserving as confidential or the disclosure of which would materially impede the Company’s ability to consummate a significant transaction, and that the Company is not otherwise required by applicable securities laws or regulations to
disclose, upon written notice of such determination by the Company to the Holders which shall be signed by the Chief Executive Officer, President or any Executive Vice President of the Company certifying thereto, the rights of the Holders to offer,
sell or distribute any Registrable Securities pursuant to a Resale Shelf Registration or to require the Company to take action with respect to the registration or sale of any Registrable Securities pursuant to a Resale Shelf Registration Statement
shall be suspended until the earliest of (i) the date upon which the Company notifies the Holders in writing that suspension of such rights for the grounds set forth in this Section 2.14(a) is no longer necessary and they may resume use of
the applicable prospectus, (ii) the date upon which copies of the applicable supplemented or amended prospectus is distributed to the Holders, and (iii) (x) up to 30 consecutive days after the notice to the Holders if that notice is
given during the Initial Period or (y) 90 consecutive days after the notice to the Holders if that notice is given after the Initial Period; provided, that the Company shall not be entitled to exercise any such right more than two
(2) times in any twelve month period or less than 30 days from the termination of the prior such suspension period; and provided further, that such exercise shall not prevent the Holders from being entitled to at least 320 days of
effective registration with respect to such registration statement during each Initial Period and thereafter 210 days of effective registration with respect to such registration statement in any 365-day period. The Company agrees to give the notice
under (i) above as promptly as practicable following the date that such suspension of rights is no longer necessary. 

(b) If all reports required to be filed by the Company pursuant to the Exchange Act have not been filed by the required date without
regard to any extension, or if 
  

 15 

 
the consummation of any business combination by the Company has occurred or is probable for purposes of Rule 3-05 or Article 11 of Regulation S-X promulgated under the Securities Act or any
similar successor rule, upon written notice thereof by the Company to the Holders, the rights of the Holders to offer, sell or distribute any Registrable Securities pursuant to a Resale Shelf Registration Statement or to require the Company to take
action with respect to the registration or sale of any Registrable Securities pursuant to a Resale Shelf Registration Statement shall be suspended until the date on which the Company has filed such reports or obtained and filed the financial
information required by Rule 3-05 or Article 11 of Regulation S-X to be included or incorporated by reference, as applicable, in a Resale Shelf Registration Statement, and the Company shall use commercially reasonable efforts to file the required
reports or obtain and file the financial information required to be included or incorporated by reference, as applicable, as promptly as commercially practicable, and shall notify the Holders as promptly as practicable when such suspension is no
longer required. 
 Section 2.15. Additional Shares. The Company, at its option, may register under a Shelf
Registration Statement and any filings with any state securities commissions filed pursuant to this Agreement, any number of unissued shares of Common Stock or any shares of Common Stock owned by any other stockholder or stockholders of the Company;
provided that in no event shall the inclusion of such shares on a registration statement reduce the amount offered for the account of the Holders in any underwritten offering at the request of the Holders pursuant to Section 2.4(c).  

 ARTICLE III 

MISCELLANEOUS 

Section 3.1. Remedies. In addition to being entitled to exercise all rights provided herein and granted by law, including
recovery of damages, the Holders shall be entitled to specific performance of the rights under this Agreement. The Company agrees that monetary damages would not be adequate compensation for any loss incurred by reason of a breach by it of the
provisions of this Agreement and hereby agrees to waive the defense in any action for specific performance that a remedy at law would be adequate. 

Section 3.2. Amendments and Waivers. The provisions of this Agreement, including the provisions of this sentence, may not be
amended, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given, in each case without the written consent of the Company and the Holders against whom enforcement is sought. No failure or delay by
any party to insist upon the strict performance of any covenant, duty, agreement or condition of this Agreement or to exercise any right or remedy consequent upon any breach thereof shall constitute waiver of any such breach or any other covenant,
duty, agreement or condition. 
 Section 3.3. Notices. All notices and other communications in connection with this
Agreement shall be made in writing by hand delivery, registered first-class mail, telecopier, or air courier guaranteeing overnight delivery: 

(1) if to any Holder, initially to the address indicated in such Holder’s Notice and Questionnaire or, if no Notice
and Questionnaire has been delivered, c/o Hudson 
  

 16 

 
Pacific Properties, Inc., [11601 Wilshire Blvd., Suite 1600, Los Angeles, California 90025], Attention: Chief Executive Officer, or to such other address and to such other Persons as any Holder
may hereafter specify in writing; and 
 (2) if to the Company, initially at [11601 Wilshire Blvd., Suite 1600,
Los Angeles, California 90025], Attention: Chief Executive Officer, or to such other address as the Company may hereafter specify in writing. 

All such notices and communications shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; when
received if deposited in the mail, postage prepaid, if mailed; when receipt acknowledged, if telecopied; and on the next Business Day, if timely delivered to an air courier guaranteeing overnight delivery. 

Section 3.4. Successors and Assigns; Assignment of Registration Rights. This Agreement shall inure to the benefit of and be
binding upon the successors, assigns and transferees of each of the parties. Any Holder may assign its rights under this Agreement without the consent of the Company in connection with a transfer of such Holder’s Registrable Securities;
provided, that the Holder notifies the Company of such proposed transfer and assignment and the transferee or assignee of such rights assumes in writing the obligations of such Holder under this Agreement. 

Section 3.5. Counterparts. This Agreement may be executed in any number of counterparts and by the parties hereto in separate
counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Each party shall become bound by this Agreement immediately upon affixing its signature
hereto. 
 Section 3.6. Governing Law. This Agreement shall be governed by and construed in accordance with the
internal laws of the State of New York, including, without limitation, Section 5-1401 of the New York General Obligations Law. 

Section 3.7. Severability. In the event that any one or more of the provisions contained herein, or the application thereof
in any circumstance, is held invalid, illegal or unenforceable, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions contained herein shall not be affected or impaired thereby.

 Section 3.8. Entire Agreement. This Agreement is intended by the parties as a final expression of their agreement
and intended to be a complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein. There are no restrictions, promises, warranties or undertakings, other than those set
forth or referred to herein with respect to the registration rights granted by the Company with respect to the Registrable Securities. This Agreement supersedes all prior agreements and understandings between the parties with respect to such subject
matter. 
 Section 3.9. Headings. The headings in this Agreement are for convenience of reference only and shall not
limit or otherwise affect the meaning hereof. 
  

 17 

 Section 3.10. Termination. The obligations of the parties hereunder shall
terminate with respect to a Holder when it no longer holds Registrable Securities and with respect to the Company upon the end of the Effectiveness Period with respect to any Issuer Shelf Registration Statement and with respect to Resale Shelf
Registration Statement when there are no longer Registrable Securities with respect to a Resale Shelf Registration Statement, except, in each case, for any obligations under Sections 2.4(d), 2.7, 2.8, 2.9, 2.10, 2.11 and Article III.

 Section 3.11. Waiver of Jury Trial. The parties hereto (including any Initial Holder and any subsequent Holder)
irrevocably waive any right to trial by jury. 
 [SIGNATURE PAGE FOLLOWS] 

 

 18 

 IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first
written above. 
  

			
	HUDSON PACIFIC PROPERTIES, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	HOLDERS LISTED ON SCHEDULE I HERETO
	
	HUDSON PACIFIC PROPERTIES, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	As Attorney-in-Fact acting on behalf of each of the Holders named on Schedule I hereto

 

 19 

 Schedule I 

[LIST OF HOLDERS] 

 Exhibit A 

Form of Notice and QuestionnaireEmployment Agreement - Victor J. Coleman

 Exhibit 10.6 

EMPLOYMENT AGREEMENT 

THIS EMPLOYMENT AGREEMENT (this “Agreement”), dated as of
[            ], is entered into by and between Hudson Pacific Properties, Inc., a Maryland corporation (the “REIT”), Hudson Pacific Properties, L.P., a Maryland limited
partnership (the “Operating Partnership”) and Victor J. Coleman (the “Executive”). 
 WHEREAS,
the REIT and the Operating Partnership (collectively, the “Company”) desire to employ the Executive and to enter into an agreement embodying the terms of such employment; and 

WHEREAS, the Executive desires to accept employment with the Company, subject to the terms and conditions of this Agreement. 

NOW, THEREFORE, IT IS HEREBY AGREED AS FOLLOWS: 

1. Employment Period. Subject to the provisions for earlier termination hereinafter provided, the Executive’s employment
hereunder shall be for a term (the “Employment Period”) commencing on the Effective Date and ending on the third anniversary of the Effective Date (the “Initial Term”). If not previously terminated in accordance
with this Agreement, the Employment Period shall automatically be extended for one additional year immediately following the Initial Term (such extension, the “Renewal Term”), unless either the Executive or the Company elects not to
so extend the Employment Period by notifying the other party, in writing, of such election (a “Non-Renewal”) not less than sixty (60) days prior to the last day of the Initial Term. Notwithstanding the foregoing, in the event
that the Company experiences a Change in Control (as defined in the Company’s 2010 Incentive Award Plan (the “Incentive Plan”)) during the Renewal Term, then the Employment Period shall instead continue through the first
anniversary of the consummation of the Change in Control. For purposes of this Agreement, “Effective Date” shall mean the date of the closing of the initial public offering of shares of the REIT’s common stock. 

2. Terms of Employment. 

(a) Position and Duties. 

(i) During the Employment Period, the Executive shall serve as Chief Executive Officer of the REIT and the Operating
Partnership, and shall perform such employment duties as are usual and customary for such positions. The Executive shall report directly to the Board of Directors of the REIT (the “Board”). In addition, during the Employment Period,
the Company shall cause the Executive to be nominated to stand for election to the Board at any meeting of stockholders of the REIT during which any such election is held and the Executive’s term as director will expire if he is not reelected;
provided, however, that the Company shall not be obligated to cause such nomination if any of the events constituting Cause (as defined below) have occurred and not been cured. Provided that the Executive is so nominated and is elected
to the Board, the Executive hereby agrees to serve as a member of the Board. At the Company’s request, the Executive shall serve the Company and/or its subsidiaries and affiliates in other

 
capacities in addition to the foregoing consistent with the Executive’s position as Chief Executive Officer of the REIT and the Operating Partnership. In the event that the Executive, during
the Employment Period, serves in any one or more of such additional capacities, the Executive’s compensation shall not be increased beyond that specified in Section 2(b) hereof. In addition, in the event the Executive’s service in one
or more of such additional capacities is terminated, the Executive’s compensation, as specified in Section 2(b) hereof, shall not be diminished or reduced in any manner as a result of such termination provided that the Executive otherwise
remains employed under the terms of this Agreement. 
 (ii) During the Employment Period, and excluding any
periods of vacation and sick leave to which the Executive may be entitled, the Executive agrees to devote his full business time and attention to the business and affairs of the Company. Notwithstanding the foregoing, during the Employment Period,
it shall not be a violation of this Agreement for the Executive to (A) serve on boards, committees or similar bodies of charitable or nonprofit organizations, (B) fulfill limited teaching, speaking and writing engagements, and
(C) manage his personal investments, in each case, so long as such activities do not materially interfere or conflict with the performance of the Executive’s duties and responsibilities under this Agreement. 

(iii) During the Employment Period, the Executive shall perform the services required by this Agreement at the
Company’s principal offices located in Los Angeles, California (the “Principal Location”), except for travel to other locations as may be necessary to fulfill the Executive’s duties and responsibilities hereunder.

 (b) Compensation, Benefits, Etc. 

(i) Base Salary. During the Employment Period, the Executive shall receive a base salary (the “Base
Salary”) of $500,000 per annum. The Base Salary shall be reviewed annually by the Compensation Committee of the Board (the “Compensation Committee”) and may be increased from time to time by the Compensation Committee in
its sole discretion. The Base Salary shall be paid in accordance with the Company’s normal payroll practices for executive salaries generally, but no less often than monthly. The Base Salary shall not be reduced after any increase in accordance
herewith and the term “Base Salary” as utilized in this Agreement shall refer to Base Salary as so increased. 

(ii) Annual Bonus. In addition to the Base Salary, the Executive shall be eligible to earn, for each fiscal year of
the Company ending during the Employment Period, a discretionary cash performance bonus (an “Annual Bonus”) under the Company’s bonus plan or program applicable to senior executives. The amount of the Annual Bonus, if any,
shall be determined by the Compensation Committee in its sole discretion based on such performance criteria as the Compensation Committee shall determine in its sole discretion. The Executive acknowledges and agrees that nothing contained herein
confers on the Executive any right to an Annual Bonus in any year, and that whether the Company pays him an Annual Bonus and the amount of any such Annual Bonus shall be determined by the Compensation Committee in its sole discretion. 

 

 2 

 (iii) Restricted Stock Award. Subject to adoption by the Board and
approval by the REIT’s stockholders of the Incentive Plan, on or as soon as practicable following the date of the closing of the REIT’s initial public offering (the “Offering Date”), the REIT shall issue to the Executive
an award of Restricted Stock (as defined the Incentive Plan) with respect to the number of shares of the REIT’s common stock equal to the quotient obtained by dividing (x) $1,900,000 by (y) the initial public offering price of a share
of the REIT’s common stock (the “Restricted Stock Award”). Subject to the Executive’s continued employment with the Company through each such date, one-third of the Restricted Stock Award shall vest and become
nonforfeitable on each of the first, second and third anniversaries of the Offering Date. The terms and conditions of the Restricted Stock Award shall be set forth in a separate award agreement in a form prescribed by the Company (the
“Restricted Stock Award Agreement”), to be entered into by the Company and the Executive, which shall evidence the grant of the Restricted Stock Award. Immediately prior to a Change in Control of the Company, the Restricted Stock
Award shall, to the extent not previously vested, become fully vested and nonforfeitable. 
 (iv) Incentive,
Savings and Retirement Plans. During the Employment Period, the Executive shall be eligible to participate in all other incentive plans, practices, policies and programs, and all savings and retirement plans, practices, policies and programs, in
each case that are available generally to senior executives of the Company. 
 (v) Welfare Benefit Plans.
During the Employment Period, the Executive and the Executive’s eligible family members shall be eligible for participation in the welfare benefit plans, practices, policies and programs (including, if applicable, medical, dental, disability,
employee life, group life and accidental death insurance plans and programs) maintained by the Company for its senior executives. 

(vi) Expenses. During the Employment Period, the Executive shall be entitled to receive prompt reimbursement for
all reasonable business expenses incurred by the Executive in accordance with the policies, practices and procedures of the Company provided to senior executives of the Company. 

(vii) Fringe Benefits. During the Employment Period, the Executive shall be entitled to such fringe benefits and
perquisites as are provided by the Company to its senior executives from time to time, in accordance with the policies, practices and procedures of the Company, and shall receive such additional fringe benefits and perquisites as the Company may, in
its discretion, from time-to-time provide. 
 (viii) Vacation. During the Employment Period, the Executive
shall be entitled to paid vacation in accordance with the plans, policies, programs and practices of the Company applicable to its senior executives but in no event less than four (4) weeks per calendar year; provided, however,
that the Executive shall not accrue any vacation time in excess of four (4) weeks (twenty (20) days) (the “Accrual Limit”), and shall cease accruing vacation time if the Executive’s accrued vacation reaches the
Accrual Limit until such time as the Executive’s accrued vacation time drops below the Accrual Limit. 
  

 3 

 (ix) Indemnification Agreement. The parties hereby acknowledge that
in connection with the execution of this Agreement, they are entering into an Indemnification Agreement (the “Indemnification Agreement”), substantially in the form attached hereto as Exhibit A, which shall become effective
as of the Effective Date. 
 3. Termination of Employment. 

(a) Death or Disability. The Executive’s employment shall terminate automatically upon the Executive’s death during the
Employment Period. Either the Company or the Executive may terminate the Executive’s employment in the event of the Executive’s Disability during the Employment Period. For purposes of this Agreement, “Disability” shall
mean the absence of the Executive from the Executive’s duties with the Company on a full-time basis for ninety (90) consecutive days or for a total of one hundred eighty (180) days in any twelve (12)-month period, in either case as a
result of incapacity due to mental or physical illness which is determined to be total and permanent by a physician selected by the Company or its insurers and reasonably acceptable to the Executive or the Executive’s legal representative.

 (b) Cause. The Company may terminate the Executive’s employment during the Employment Period for Cause or without
Cause. For purposes of this Agreement, “Cause” shall mean the occurrence of any one or more of the following events unless, to the extent capable of correction, the Executive fully corrects the circumstances constituting Cause
within fifteen (15) days after receipt of the Notice of Termination (as defined below): 
 (i) the
Executive’s willful and continued failure to substantially perform his duties with the Company (other than any such failure resulting from the Executive’s incapacity due to physical or mental illness or any such actual or anticipated
failure after his issuance of a Notice of Termination for Good Reason), after a written demand for substantial performance is delivered to the Executive by the Board, which demand specifically identifies the manner in which the Board believes that
the Executive has not substantially performed his duties; 
 (ii) the Executive’s willful commission of an
act of fraud or dishonesty resulting in reputational, economic or financial injury to the Company; 
 (iii) the
Executive’s commission of, or entry by the Executive of a guilty or no contest plea to, a felony or a crime involving moral turpitude; 

(iv) a willful breach by the Executive of his fiduciary duty to the Company which results in reputational, economic or
other injury to the Company; or 
 (v) the Executive’s willful and material breach of the Executive’s
obligations under a written agreement between the Company and the Executive, including without limitation, such a breach of this Agreement. 

For purposes of this provision, no act or failure to act, on the part of the Executive, shall be considered “willful” unless it is done, or
omitted to be done, by the Executive in bad faith or without reasonable belief that the Executive’s action or omission was in the best interests of the Company. Any act, or failure to act, based upon authority given pursuant to a resolution
duly 
  

 4 

 
adopted by the Board or based upon the advice of counsel for the Company shall be presumed to be done, or omitted to be done, by the Executive in good faith and in the best interests of the
Company. 
 (c) Good Reason. The Executive’s employment may be terminated by the Executive for Good Reason or by the
Executive without Good Reason. For purposes of this Agreement, “Good Reason” shall mean the occurrence of any one or more of the following events without the Executive’s prior written consent, unless the Company fully corrects
the circumstances constituting Good Reason (provided such circumstances are capable of correction) within forty-five (45) days after the Company’s receipt of the Notice of Termination (as defined below) delivered by the Executive:

 (i) the assignment to the Executive of any duties materially inconsistent in any respect with the
Executive’s position (including status, offices, titles and reporting requirements), authority, duties or responsibilities as contemplated by Section 2(a) hereof, or any other action by the Company which results in a material diminution in
such position, authority, duties or responsibilities, excluding for this purpose any isolated, insubstantial or inadvertent actions not taken in bad faith and which are remedied by the Company promptly after receipt of notice thereof given by the
Executive; 
 (ii) the Company’s material reduction of the Executive’s Base Salary as in effect on the
date hereof or as the same may be increased from time to time; 
 (iii) a material change in the geographic
location of the Principal Location which shall, in any event, include only a relocation of the Principal Location by more than thirty (30) miles from its existing location; 

(iv) the Company’s failure to cure a material breach of its obligations under this Agreement after written notice is
delivered to the Board by the Executive which specifically identifies the manner in which the Executive believes that the Company has breached its obligations under the Agreement and the Company is given a reasonable opportunity to cure any such
breach. 
 Notwithstanding the foregoing, the Executive will not be deemed to have resigned for Good Reason unless (1) the Executive
provides the Company with written notice setting forth in reasonable detail the facts and circumstances claimed by the Executive to constitute Good Reason within sixty (60) days after the date of the occurrence of any event that the Executive
knows or should reasonably have known to constitute Good Reason, (2) the Company fails to cure such acts or omissions within thirty (30) days following its receipt of such notice, and (3) the effective date of the Executive’s
termination for Good Reason occurs no later than thirty (30) days after the expiration of the cure period. 
 (d) Notice
of Termination. Any termination by the Company for Cause, or by the Executive for Good Reason, shall be communicated by a Notice of Termination to the other parties hereto given in accordance with Section 11(b) hereof. For purposes of this
Agreement, a “Notice of Termination” means a written notice which (i) indicates the specific termination provision in this Agreement relied upon, (ii) to the extent applicable, sets forth in reasonable

  

 5 

 
detail the facts and circumstances claimed to provide a basis for termination of the Executive’s employment under the provision so indicated and (iii) if the Date of Termination (as
defined below) is other than the date of receipt of such notice, specifies the termination date (which date shall be not more than thirty days after the giving of such notice). The failure by the Executive or the Company to set forth in the Notice
of Termination any fact or circumstance which contributes to a showing of Good Reason or Cause shall not waive any right of the Executive or the Company, respectively, hereunder or preclude the Executive or the Company, respectively, from asserting
such fact or circumstance in enforcing the Executive’s or the Company’s rights hereunder. 
 (e) Termination of
Offices and Directorships. Upon termination of the Executive’s employment for any reason, unless otherwise specified in a written agreement between the Executive and the Company, the Executive shall be deemed to have resigned from all
offices, directorships, and other employment positions if any, then held with the Company, and shall take all actions reasonably requested by the Company to effectuate the foregoing. 

4. Obligations of the Company upon Termination. 

(a) Without Cause or For Good Reason. Subject to Section 4(e) below, if, the Executive incurs a “separation from
service” from the Company (within the meaning of Section 409A(a)(2)(A)(i) of the Internal Revenue Code of 1986, as amended (the “Code”), and Treasury Regulation Section 1.409A-1(h)) (a “Separation from
Service”) during the Employment Period by reason of (1) a termination of the Executive’s employment by the Company without Cause (other than by reason of the Executive’s Disability), or (2) a termination of the
Executive’s employment by the Executive for Good Reason: 
 (i) The Executive shall be paid, in a single
lump-sum payment on the date of the Executive’s termination of employment, the aggregate amount of the Executive’s earned but unpaid Base Salary and accrued but unpaid vacation pay through the date of such termination (the “Accrued
Obligations”) and any Annual Bonus required to be paid to the Executive pursuant to Section 2(b)(ii) above for any fiscal year of the Company that ends on or before the Date of Termination to the extent not previously paid (the
“Unpaid Bonus”). 
 (ii) In addition, the Executive shall be paid, in a
single lump-sum payment on the sixtieth (60th) day
after the date of Executive’s Separation from Service (such date, the “Date of Termination”), an amount equal to three (3) (the “Severance Multiple”) times the sum of (x) the Base Salary in effect on
the Date of Termination, plus (y) the highest Annual Bonus earned by the Executive (regardless of whether such amount was paid out on a current basis or deferred) during the Employment Period (or, in the event that the Date of Termination
occurs prior to the end of the completion of the first full fiscal year of the Company during the Employment Period, then the amount in clause (y) shall be determined by the Compensation Committee in its sole discretion, but in no event shall
such amount be less than the Base Salary in effect on the Date of Termination), plus (z) the highest Equity Award Value (as defined below) of any Annual Grant made to the Executive by the Company during the Employment Period. For purposes of
this Agreement, “Equity Award Value” shall mean (A) with respect to Stock Options and Stock Appreciation Rights (each as defined in the Incentive Plan), the grant 

 

 6 

 
date fair value, as computed in accordance with FASB Accounting Standards Codification Topic 718, Compensation — Stock Compensation (or any successor accounting standard), and
(B) with respect to Awards (as defined in the Incentive Plan) other than Stock Options and Stock Appreciation Rights (and excluding cash Awards under the Incentive Plan), the product of (1) the number of shares or units subject to such
Award, times (2) the “fair market value” of a share of the REIT’s common stock on the date of grant as determined under the Incentive Plan. For purposes of this Agreement, “Annual Grant” shall mean the grant of
an equity-based Award that constitutes a component of a given year’s annual compensation package and shall not include any isolated, one-off or non-recurring grant outside of the Executive’s annual compensation package, such as (but not
limited to) the Restricted Stock Award granted pursuant to Section 2(b)(iii) above, an initial hiring Award, a retention Award, an Award that relates to multi-year or other long-term performance, an outperformance Award or other similar award,
in any event, as determined by the Company in its sole discretion. For the avoidance of doubt, for purposes of this Section 4(a)(ii), Annual Bonus shall include any portion of the Executive’s Annual Bonus received in the form of equity
rather than cash. 
 (iii) All outstanding equity awards held by the Executive on the Date of Termination shall
immediately become fully vested and exercisable. 
 (iv) During the period commencing on the Date of Termination
and ending on the earlier of (i) the eighteen (18)-month anniversary of the Date of Termination and (ii) the date on which the Executive becomes eligible to receive benefits under a “group health plan” (within the meaning of
Section 4980B of the Code and the regulations thereunder (“COBRA”)) of a subsequent employer of the Executive (of which eligibility the Executive hereby agrees to give prompt notice to the Company), subject to the
Executive’s valid election to receive COBRA benefits, the Company shall continue to provide the Executive and the Executive’s eligible dependants with coverage under its group health plans at the same levels and the same cost to the
Executive as would have applied if the Executive’s employment had not been terminated. 
 Notwithstanding the foregoing, it shall be a
condition to the Executive’s right to receive the amounts provided for in Sections 4(a)(ii), 4(a)(iii) and 4(a)(iv) above that the Executive execute and deliver to the Company an effective release of claims in substantially the form attached
hereto as Exhibit B (the “Release”) within twenty-one (21) days (or, to the extent required by law, forty-five (45) days) following the Date of Termination and that Executive not revoke such Release during any
applicable revocation period. 
 (b) Company Non-Renewal. Subject to Section 4(e) below, in the event that the
Executive incurs a Separation from Service during the Employment Period by reason of a Non-Renewal of the Initial Term by the Company and the Executive is willing and able, at the time of such Non-Renewal, to continue performing services on the
terms and conditions set forth herein during the Renewal Term (a “Non-Renewal Termination”), then the Executive shall be entitled to the payments and benefits provided in Section 4(a) hereof, subject to the terms and conditions
of Section 4(a) (including, without limitation, the Release requirement contained therein), provided, however, in the event of a Non-Renewal Termination that does not occur within one year after the consummation of a Change in
Control of the Company, the Severance 
  

 7 

 
Multiple shall equal two (2). For the avoidance of doubt, if a Non-Renewal Termination occurs on or within one (1) year after the consummation of a Change in Control of the Company, the
Severance Multiple shall equal three (3). 
 (c) For Cause, Without Good Reason or Other Terminations. If the
Executive’s employment shall be terminated by the Company for Cause, by the Executive without Good Reason or for any other reason not enumerated in this Section 4, in any case, during the Employment Period, the Company shall pay to the
Executive the Accrued Obligations in cash within thirty (30) days after the Date of Termination (or by such earlier date as may be required by applicable law). 

(d) Death or Disability. Subject to Section 4(e) below, if the Executive incurs a Separation from Service by reason of the
Executive’s death or Disability during the Employment Period: 
 (i) The Accrued Obligations shall be paid
to the Executive’s estate or beneficiaries or to the Executive, as applicable, in cash on or as soon as practicable following the date of the Executive’s termination; 

(ii) Any Unpaid Bonus shall be paid to the Executive’s estate or beneficiaries or to the Executive, as applicable, on
the Date of Termination; and 
 (iii) All outstanding equity awards held by the Executive on the Date of
Termination shall immediately become fully vested and exercisable. 
 (e) Six-Month Delay. Notwithstanding anything to
the contrary in this Agreement, no compensation or benefits, including without limitation any severance payments or benefits payable under Section 4 hereof, shall be paid to the Executive during the six (6)-month period following the
Executive’s “separation from service” (within the meaning of Section 409A(a)(2)(A)(i) of the Code) if the Company determines that paying such amounts at the time or times indicated in this Agreement would be a prohibited
distribution under Section 409A(a)(2)(B)(i) of the Code. If the payment of any such amounts is delayed as a result of the previous sentence, then on the first business day following the end of such six (6)-month period (or such earlier date
upon which such amount can be paid under Section 409A of the Code without resulting in a prohibited distribution, including as a result of the Executive’s death), the Company shall pay the Executive a lump-sum amount equal to the
cumulative amount that would have otherwise been payable to the Executive during such period. 
 (f) Exclusive Benefits.
Except as expressly provided in this Section 4 and subject to Section 5 below, the Executive shall not be entitled to any additional payments or benefits upon or in connection with his termination of employment. 

5. Non-Exclusivity of Rights. Amounts which are vested benefits or which the Executive is otherwise entitled to receive under any
plan, policy, practice or program of or any contract or agreement with the Company at or subsequent to the Date of Termination shall be payable in accordance with such plan, policy, practice or program or contract or agreement except as explicitly
modified by this Agreement. 
  

 8 

 6. Limitation on Payments. 

(a) Notwithstanding any other provision of this Agreement, in the event that any payment or benefit received or to be received by the
Executive (including any payment or benefit received in connection with a termination of the Executive’s employment, whether pursuant to the terms of this Agreement or any other plan, arrangement or agreement) (all such payments and benefits,
including the payments and benefits under Section 4 hereof, being hereinafter referred to as the “Total Payments”) would be subject (in whole or part), to the excise tax imposed under Section 4999 of the Internal Revenue
Code of 1986, as amended (the “Code”) (the “Excise Tax”), then, after taking into account any reduction in the Total Payments provided by reason of Section 280G of the Code in such other plan, arrangement or
agreement, the cash severance payments under this Agreement shall first be reduced, and the noncash severance payments hereunder shall thereafter be reduced, to the extent necessary so that no portion of the Total Payments is subject to the Excise
Tax but only if (i) the net amount of such Total Payments, as so reduced (and after subtracting the net amount of federal, state and local income taxes on such reduced Total Payments and after taking into account the phase out of itemized
deductions and personal exemptions attributable to such reduced Total Payments) is greater than or equal to (ii) the net amount of such Total Payments without such reduction (but after subtracting the net amount of federal, state and local
income taxes on such Total Payments and the amount of Excise Tax to which the Executive would be subject in respect of such unreduced Total Payments and after taking into account the phase out of itemized deductions and personal exemptions
attributable to such unreduced Total Payments). The Total Payments shall be reduced in the following order: (A) reduction of any cash severance payments otherwise payable to the Executive that are exempt from Section 409A of the Code;
(B) reduction of any other cash payments or benefits otherwise payable to the Executive that are exempt from Section 409A of the Code, but excluding any payments attributable to any acceleration of vesting or payments with respect to any
equity award that are exempt from Section 409A of the Code; (C) reduction of any other payments or benefits otherwise payable to Employee on a pro-rata basis or such other manner that complies with Section 409A of the Code, but
excluding any payments attributable to any acceleration of vesting and payments with respect to any equity award that are exempt from Section 409A of the Code; and (D) reduction of any payments attributable to any acceleration of vesting
or payments with respect to any equity award that are exempt from Section 409A of the Code, in each case beginning with payments that would otherwise be made last in time. 

(b) For purposes of determining whether and the extent to which the Total Payments will be subject to the Excise Tax, (i) no portion
of the Total Payments the receipt or enjoyment of which the Executive shall have waived at such time and in such manner as not to constitute a “payment” within the meaning of Section 280G(b) of the Code shall be taken into account;
(ii) no portion of the Total Payments shall be taken into account which, in the written opinion of independent auditors of nationally recognized standing (“Independent Advisors”) selected by the Company, does not constitute a
“parachute payment” within the meaning of Section 280G(b)(2) of the Code (including by reason of Section 280G(b)(4)(A) of the Code) and, in calculating the Excise Tax, no portion of such Total Payments shall be taken into account
which, in the opinion of Independent Advisors, constitutes reasonable compensation for services actually rendered, within the meaning of Section 280G(b)(4)(B) of the Code, in excess of the Base Amount (as defined in Section 280G(b)(3) of
the Code) allocable to such reasonable 
  

 9 

 
compensation; and (iii) the value of any non cash benefit or any deferred payment or benefit included in the Total Payments shall be determined by the Independent Advisors in accordance with
the principles of Sections 280G(d)(3) and (4) of the Code. 
 7. Confidential Information and Non-Solicitation.

 (a) The Executive shall hold in a fiduciary capacity for the benefit of the Company all secret or confidential information,
knowledge or data relating to the Company and its subsidiaries and affiliates, which shall have been obtained by the Executive in connection with the Executive’s employment by the Company and which shall not be or become public knowledge (other
than by acts by the Executive or representatives of the Executive in violation of this Agreement). After termination of the Executive’s employment with the Company, the Executive shall not, without the prior written consent of the Company or as
may otherwise be required by law or legal process, communicate or divulge any such information, knowledge or data, to anyone other than the Company and those designated by it; provided, however, that if the Executive receives actual
notice that the Executive is or may be required by law or legal process to communicate or divulge any such information, knowledge or data, the Executive shall promptly so notify the Company. 

(b) While employed by the Company and, for a period of one (1) year after the Date of Termination, the Executive shall not directly
or indirectly solicit, induce, or encourage any employee or consultant of any member of the Company and its subsidiaries and affiliates to terminate their employment or other relationship with the Company and its subsidiaries and affiliates or to
cease to render services to any member of the Company and its subsidiaries and affiliates and the Executive shall not initiate discussion with any such person for any such purpose or authorize or knowingly cooperate with the taking of any such
actions by any other individual or entity. During his employment with the Company and thereafter, the Executive shall not use any trade secret of the Company or its subsidiaries or affiliates to solicit, induce, or encourage any customer, client,
vendor, or other party doing business with any member of the Company and its subsidiaries and affiliates to terminate its relationship therewith or transfer its business from any member of the Company and its subsidiaries and affiliates and the
Executive shall not initiate discussion with any such person for any such purpose or authorize or knowingly cooperate with the taking of any such actions by any other individual or entity. 

(c) In recognition of the facts that irreparable injury will result to the Company in the event of a breach by the Executive of his
obligations under Sections 7(a) and (b) hereof, that monetary damages for such breach would not be readily calculable, and that the Company would not have an adequate remedy at law therefor, the Executive acknowledges, consents and agrees that
in the event of such breach, or the threat thereof, the Company shall be entitled, in addition to any other legal remedies and damages available, to specific performance thereof and to temporary and permanent injunctive relief (without the necessity
of posting a bond) to restrain the violation or threatened violation of such obligations by the Executive. 
 8.
Representations. The Executive hereby represents and warrants to the Company that (a) the Executive is entering into this Agreement voluntarily and that the performance of his obligations hereunder will not violate any agreement between
the Executive and any other person, firm, organization or other entity, and (b) the Executive is not bound by the 

 

 10 

 
terms of any agreement with any previous employer or other party to refrain from competing, directly or indirectly, with the business of such previous employer or other party that would be
violated by his entering into this Agreement and/or providing services to the Company pursuant to the terms of this Agreement. 

9. Successors. 

(a) This Agreement is personal to the Executive and without the prior written consent of the Company shall not be assignable by the
Executive otherwise than by will or the laws of descent and distribution. This Agreement shall inure to the benefit of and be enforceable by the Executive’s legal representatives. 

(b) This Agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns. 

(c) The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or
substantially all of the business and/or assets of the Company to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. As used in
this Agreement, “Company” shall mean the Company as hereinbefore defined and any successor to its business and/or assets as aforesaid which assumes and agrees to perform this Agreement by operation of law, or otherwise. 

10. Payment of Financial Obligations. The payment or provision to the Executive by the Company of any remuneration, benefits or
other financial obligations pursuant to this Agreement shall be allocated among the Operating Partnership, the REIT and any subsidiary or affiliate thereof in such manner as such entities determine in order to reflect the services provided by the
Executive to such entities; provided, however, that the Operating Partnership and the REIT shall be jointly and severally liable for such obligations. 

11. Miscellaneous. 

(a) Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of California,
without reference to principles of conflict of laws. The captions of this Agreement are not part of the provisions hereof and shall have no force or effect. 

(b) Notices. All notices and other communications hereunder shall be in writing and shall be given by hand delivery to the other
party or by registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 
 If to the
Executive: at the Executive’s most recent address on the records of the Company. 
 If to the REIT or the Operating
Partnership: 
 Hudson Pacific Properties, Inc. 

11601 Wilshire Blvd., Suite 1600 
  

 11 

 
Los Angeles, CA 90025 
 Attn: General Counsel 

with a copy to: 

Latham & Watkins 

355 South Grand Ave. 

Los Angeles, CA 90071-1560 

Attn: Julian Kleindorfer 
 or to
such other address as either party shall have furnished to the other in writing in accordance herewith. Notice and communications shall be effective when actually received by the addressee. 

(c) Sarbanes-Oxley Act of 2002. Notwithstanding anything herein to the contrary, if the Company determines, in its good faith
judgment, that any transfer or deemed transfer of funds hereunder is likely to be construed as a personal loan prohibited by Section 13(k) of the Exchange Act and the rules and regulations promulgated thereunder, then such transfer or deemed
transfer shall not be made to the extent necessary or appropriate so as not to violate the Exchange Act and the rules and regulations promulgated thereunder. 

(d) Section 409A of the Code. 

(i) To the extent applicable, this Agreement shall be interpreted in accordance with Section 409A of the Code and Department of
Treasury regulations and other interpretive guidance issued thereunder. Notwithstanding any provision of this Agreement to the contrary, if the Company determines that any compensation or benefits payable under this Agreement may be subject to
Section 409A of the Code and related Department of Treasury guidance, the Company shall work in good faith with the Executive to adopt such amendments to this Agreement or adopt other policies and procedures (including amendments, policies and
procedures with retroactive effect), or take any other actions, that the Company determines are necessary or appropriate to avoid the imposition of taxes under Section 409A of the Code, including without limitation, actions intended to
(i) exempt the compensation and benefits payable under this Agreement from Section 409A of the Code, and/or (ii) comply with the requirements of Section 409A of the Code and related Department of Treasury guidance;
provided, however, that this Section 11(d) shall not create an obligation on the part of the Company to adopt any such amendment, policy or procedure or take any such other action, nor shall the Company have any
liability for failing to do so. 
 (ii) To the extent permitted under Section 409A of the Code, any separate payment or
benefit under this Agreement or otherwise shall not be deemed “nonqualified deferred compensation” subject to Section 409A of the Code and Section 4(e) hereof to the extent provided in the exceptions in Treasury Regulation
Section 1.409A-1(b)(4), Section 1.409A-1(b)(9) or any other applicable exception or provision of Section 409A of the Code. 

(iii) To the extent that any payments or reimbursements provided to the Executive under this Agreement, including, without limitation,
pursuant to Section 2(b)(vii), are deemed to constitute compensation to the Executive to which Treasury Regulation Section 

 

 12 

 
1.409A-3(i)(1)(iv) would apply, such amounts shall be paid or reimbursed reasonably promptly, but not later than December 31 of the year following the year in which the expense was incurred.
The amount of any such payments eligible for reimbursement in one year shall not affect the payments or expenses that are eligible for payment or reimbursement in any other taxable year, and the Executive’s right to such payments or
reimbursement of any such expenses shall not be subject to liquidation or exchange for any other benefit. 
 (e)
Severability. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement. 

(f) Withholding. The Company may withhold from any amounts payable under this Agreement such Federal, state, local or foreign
taxes as shall be required to be withheld pursuant to any applicable law or regulation. 
 (g) No Waiver. The
Executive’s or the Company’s failure to insist upon strict compliance with any provision of this Agreement or the failure to assert any right the Executive or the Company may have hereunder, including, without limitation, the right of the
Executive to terminate employment for Good Reason pursuant to Section 3(c) hereof, shall not be deemed to be a waiver of such provision or right or any other provision or right of this Agreement. 

(h) Entire Agreement. As of the Effective Date, this Agreement, together with the Indemnification Agreement and the Restricted
Stock Award Agreement, constitutes the final, complete and exclusive agreement between the Executive and the Company with respect to the subject matter hereof and replaces and supersedes any and all other agreements, offers or promises, whether oral
or written, by any member of the Company and its subsidiaries and affiliates (a “Predecessor Employer”), or representative thereof, whose business or assets any member of the Company and its subsidiaries and affiliates succeeded to
in connection with the initial public offering of the common stock of the REIT or the transactions related thereto. The Executive agrees that any such agreement, offer or promise between the Executive and a Predecessor Employer (or any
representative thereof) is hereby terminated and will be of no further force or effect, and the Executive acknowledges and agrees that upon his execution of this Agreement, he will have no right or interest in or with respect to any such agreement,
offer or promise. In the event that the Effective Date does not occur, this Agreement (including, without limitation, the immediately preceding sentence) shall have no force or effect. 

(i) Amendment. No amendment or other modification of this Agreement shall be effective unless made in writing and signed by the
parties hereto. 
 (j) Counterparts. This Agreement and any agreement referenced herein may be executed simultaneously in
two or more counterparts, each of which shall be deemed an original but which together shall constitute one and the same instrument. 

[SIGNATURE PAGE FOLLOWS] 
  

 13 

 IN WITNESS WHEREOF, the Executive has hereunto set the Executive’s hand and, pursuant
to the authorization from the Board, each of the REIT and the Operating Partnership has caused these presents to be executed in its name on its behalf, all as of the day and year first above written. 

 

					
	HUDSON PACIFIC PROPERTIES, INC.,
	a Maryland corporation
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	HUDSON PACIFIC PROPERTIES, L.P.,
	a Maryland limited partnership
			
	By:	 		 	
	Its:	 		 	
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	“EXECUTIVE”
	
	  

		 	Victor J. Coleman

  

 14 

 EXHIBIT A 

INDEMNIFICATION AGREEMENT 
  

 A-1 

 EXHIBIT B 

GENERAL RELEASE 

For valuable consideration, the receipt and adequacy of which are hereby acknowledged, the undersigned does hereby release and forever
discharge the “Releasees” hereunder, consisting of Hudson Pacific Properties, Inc., a Maryland corporation, Hudson Pacific Properties, L.P., a Maryland limited partnership, and each of their partners, subsidiaries, associates,
affiliates, successors, heirs, assigns, agents, directors, officers, employees, representatives, lawyers, insurers, and all persons acting by, through, under or in concert with them, or any of them, of and from any and all manner of action or
actions, cause or causes of action, in law or in equity, suits, debts, liens, contracts, agreements, promises, liability, claims, demands, damages, losses, costs, attorneys’ fees or expenses, of any nature whatsoever, known or unknown, fixed or
contingent (hereinafter called “Claims”), which the undersigned now has or may hereafter have against the Releasees, or any of them, by reason of any matter, cause, or thing whatsoever from the beginning of time to the date
hereof. The Claims released herein include, without limiting the generality of the foregoing, any Claims in any way arising out of, based upon, or related to the employment or termination of employment of the undersigned by the Releasees, or
any of them; any alleged breach of any express or implied contract of employment; any alleged torts or other alleged legal restrictions on Releasees’ right to terminate the employment of the undersigned; and any alleged violation of any
federal, state or local statute or ordinance including, without limitation, Title VII of the Civil Rights Act of 1964, the Age Discrimination In Employment Act, the Americans With Disabilities Act, and the California Fair Employment and Housing Act.
Notwithstanding the foregoing, this Release shall not operate to release any rights or claims of the undersigned (i) to payments or benefits under either Section 4(a) or 4(b) of that certain Employment Agreement, dated as of
[            ], between Hudson Pacific Properties, Inc., Hudson Pacific Properties, L.P. and the undersigned (the “Employment Agreement”), whichever is applicable to the
payments and benefits provided in exchange for this release, (ii) to payments or benefits under the Restricted Stock Award Agreement, (iii) with respect to Section 2(b)(vi) or 6 of the Employment Agreement, (iv) to accrued or
vested benefits the undersigned may have, if any, as of the date hereof under any applicable plan, policy, practice, program, contract or agreement with the Company, or (v) to indemnification and/or advancement of expenses pursuant to the
Indemnification Agreement (as defined in the Employment Agreement). 
 THE UNDERSIGNED ACKNOWLEDGES THAT HE HAS BEEN ADVISED BY
LEGAL COUNSEL AND IS FAMILIAR WITH THE PROVISIONS OF CALIFORNIA CIVIL CODE SECTION 1542, WHICH PROVIDES AS FOLLOWS: 

“A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR
AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.” 
  

 B-1 

 THE UNDERSIGNED, BEING AWARE OF SAID CODE SECTION, HEREBY EXPRESSLY WAIVES ANY RIGHTS HE MAY HAVE
THEREUNDER, AS WELL AS UNDER ANY OTHER STATUTES OR COMMON LAW PRINCIPLES OF SIMILAR EFFECT. 
 IN ACCORDANCE WITH THE OLDER
WORKERS BENEFIT PROTECTION ACT OF 1990, THE UNDERSIGNED IS HEREBY ADVISED AS FOLLOWS: 
 (A) HE HAS THE RIGHT TO
CONSULT WITH AN ATTORNEY BEFORE SIGNING THIS RELEASE; 
 (B) HE HAS TWENTY-ONE (21) DAYS TO CONSIDER THIS
RELEASE BEFORE SIGNING IT; AND 
 (C) HE HAS SEVEN (7) DAYS AFTER SIGNING THIS RELEASE TO REVOKE THIS
RELEASE, AND THIS RELEASE WILL BECOME EFFECTIVE UPON THE EXPIRATION OF THAT REVOCATION PERIOD. 
 The undersigned represents and
warrants that there has been no assignment or other transfer of any interest in any Claim which he may have against Releasees, or any of them, and the undersigned agrees to indemnify and hold Releasees, and each of them, harmless from any liability,
Claims, demands, damages, costs, expenses and attorneys’ fees incurred by Releasees, or any of them, as the result of any such assignment or transfer or any rights or Claims under any such assignment or transfer. It is the intention of the
parties that this indemnity does not require payment as a condition precedent to recovery by the Releasees against the undersigned under this indemnity. 

The undersigned agrees that if he hereafter commences any suit arising out of, based upon, or relating to any of the Claims released
hereunder or in any manner asserts against Releasees, or any of them, any of the Claims released hereunder, then the undersigned agrees to pay to Releasees, and each of them, in addition to any other damages caused to Releasees thereby, all
attorneys’ fees incurred by Releasees in defending or otherwise responding to said suit or Claim. 
 The undersigned
further understands and agrees that neither the payment of any sum of money nor the execution of this Release shall constitute or be construed as an admission of any liability whatsoever by the Releasees, or any of them, who have consistently taken
the position that they have no liability whatsoever to the undersigned. 
 IN WITNESS WHEREOF, the undersigned has executed this
Release this         day of                 ,         . 

 

					
	  
	 		 	

  

 B-2

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