Document:

EX-10.2

 Exhibit 10.2 

ARCELLX, INC. 
 2017
EQUITY INCENTIVE PLAN 
 1.    Purposes of the Plan. The purposes of this Plan are: 

 

	 	•	 	 to attract and retain the best available personnel for positions of substantial responsibility,

  

	 	•	 	 to provide additional incentive to Employees, Directors and Consultants, and 

 

	 	•	 	 to promote the success of the Company’s business. 

The Plan permits the grant of Incentive Stock Options, Nonstatutory Stock Options, Stock Appreciation Rights, Restricted Stock and Restricted
Stock Units. 
 2.    Definitions. As used herein, the following definitions will apply: 

(a)    “Administrator” means the Board or any of its Committees as will be administering the Plan, in
accordance with Section 4 of the Plan. 
 (b)    “Applicable Laws” means the requirements relating
to the administration of equity-based awards under U.S. state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is listed or quoted and the applicable laws of any
foreign country or jurisdiction where Awards are, or will be, granted under the Plan. 
 (c)    “Award”
means, individually or collectively, a grant under the Plan of Options, Stock Appreciation Rights, Restricted Stock, or Restricted Stock Units. 

(d)    “Award Agreement” means the written or electronic agreement setting forth the terms and provisions
applicable to each Award granted under the Plan. The Award Agreement is subject to the terms and conditions of the Plan. 

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

(f)    “Change in Control” means the occurrence of any of the following events: 

(i)    Change in Ownership of the Company. A change in the ownership of the Company which occurs on the date that
any one person, or more than one person acting as a group (“Person”), acquires ownership of the stock of the Company that, together with the stock held by such Person, constitutes more than 50% of the total voting power of the stock of the
Company, except that any change in the ownership of the stock of the Company as a result of a private financing of the Company that is approved by the Board will not be considered a Change in Control; or 

 

 (ii)    Change in Effective Control of the Company. If the
Company has a class of securities registered pursuant to Section 12 of the Exchange Act, a change in the effective control of the Company which occurs on the date that a majority of members of the Board is replaced during any twelve
(12) month period by Directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election. For purposes of this clause (ii), if any Person is considered to be in
effective control of the Company, the acquisition of additional control of the Company by the same Person will not be considered a Change in Control; or 

(iii)    Change in Ownership of a Substantial Portion of the Company’s Assets. A change in the ownership of a
substantial portion of the Company’s assets which occurs on the date that any Person acquires (or has acquired during the twelve (12) month period ending on the date of the most recent acquisition by such person or persons) assets from the
Company that have a total gross fair market value equal to or more than 50% of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions. For purposes of this subsection (iii), gross
fair market value means the value of the assets of the Company, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets. 

For purposes of this Section 2(f), persons will be considered to be acting as a group if they are owners of a corporation that enters
into a merger, consolidation, purchase or acquisition of stock, or similar business transaction with the Company. 
 Notwithstanding the
foregoing, a transaction will not be deemed a Change in Control unless the transaction qualifies as a change in control event within the meaning of Code Section 409A, as it has been and may be amended from time to time, and any proposed or
final Treasury Regulations and Internal Revenue Service guidance that has been promulgated or may be promulgated thereunder from time to time. 

Further and for the avoidance of doubt, a transaction will not constitute a Change in Control if: (i) its sole purpose is to change the
jurisdiction of the Company’s incorporation, or (ii) its sole purpose is to create a holding company that will be owned in substantially the same proportions by the persons who held the Company’s securities immediately before such
transaction. 
 (g)    “Code” means the Internal Revenue Code of 1986, as amended. Any reference to a
section of the Code herein will be a reference to any successor or amended section of the Code. 

(h)    “Committee” means a committee of Directors or of other individuals satisfying Applicable Laws
appointed by the Board, or by the compensation committee of the Board, in accordance with Section 4 hereof. 

(i)    “Common Stock” means the common stock of the Company. 

(j)    “Company” means Arcellx, Inc., a Delaware corporation, or any successor thereto. 

(k)    “Consultant” means any natural person, including an advisor, engaged by the Company or a Parent or
Subsidiary to render bona fide services to such entity, provided the services (i) are not in connection with the offer or sale of securities in a capital-raising transaction, and (ii) do not directly
promote or maintain a market for the Company’s securities. 

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

(m)    “Disability” means total and permanent disability as defined in Code Section 22(e)(3),
provided that in the case of Awards other than Incentive Stock Options, the Administrator in its discretion may determine whether a permanent and total disability exists in accordance with uniform and
non-discriminatory standards adopted by the Administrator from time to time. 

(n)    “Employee” means any person, including officers and Directors, employed by the Company or any
Parent or Subsidiary of the Company. Neither service as a Director nor payment of a director’s fee by the Company will be sufficient to constitute “employment” by the Company. 

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

(p)    “Exchange Program” means a program under which (i) outstanding Awards are surrendered or
cancelled in exchange for Awards of the same type (which may have higher or lower exercise prices and different terms), Awards of a different type, and/or cash, (ii) Participants would have the opportunity to transfer any outstanding Awards to
a financial institution or other person or entity selected by the Administrator, and/or (iii) the exercise price of an outstanding Award is reduced or increased. The Administrator will determine the terms and conditions of any Exchange Program
in its sole discretion. 
 (q)    “Fair Market Value” means, as of any date, the value of Common Stock
determined as follows: 
 (i)    If the Common Stock is listed on any established stock exchange or a national market
system, including without limitation the Nasdaq Global Select Market, the Nasdaq Global Market or the Nasdaq Capital Market of The Nasdaq Stock Market, its Fair Market Value will be the closing sales price for such stock (or the closing bid, if no
sales were reported) as quoted on such exchange or system on the day of determination, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; 

(ii)    If the Common Stock is regularly quoted by a recognized securities dealer but selling prices are not reported,
the Fair Market Value of a Share will be the mean between the high bid and low asked prices for the Common Stock on the day of determination (or, if no bids and asks were reported on that date, as applicable, on the last trading date such bids and
asks were reported), as reported in The Wall Street Journal or such other source as the Administrator deems reliable; or 

(iii)    In the absence of an established market for the Common Stock, the Fair Market Value will be determined in good
faith by the Administrator. 
 (r)    “Incentive Stock Option” means an Option that by its terms
qualifies and is otherwise intended to qualify as an incentive stock option within the meaning of Code Section 422 and the regulations promulgated thereunder. 

  
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 (s)    “Nonstatutory Stock Option” means an Option that
by its terms does not qualify or is not intended to qualify as an Incentive Stock Option. 

(t)    “Option” means a stock option granted pursuant to the Plan. 

(u)    “Parent” means a “parent corporation,” whether now or hereafter existing, as defined in
Code Section 424(e). 
 (v)    “Participant” means the holder of an outstanding Award. 

(w)    “Period of Restriction” means the period during which the transfer of Shares of Restricted Stock
are subject to restrictions and therefore, the Shares are subject to a substantial risk of forfeiture. Such restrictions may be based on the passage of time, the achievement of target levels of performance, or the occurrence of other events as
determined by the Administrator. 
 (x)    “Plan” means this 2017 Equity Incentive Plan. 

(y)    “Restricted Stock” means Shares issued pursuant to an Award of Restricted Stock under
Section 8 of the Plan, or issued pursuant to the early exercise of an Option. 
 (z)    “Restricted Stock
Unit” means a bookkeeping entry representing an amount equal to the Fair Market Value of one Share, granted pursuant to Section 9. Each Restricted Stock Unit represents an unfunded and unsecured obligation of the Company. 

(aa)    “Service Provider” means an Employee, Director or Consultant. 

(bb)    “Share” means a share of the Common Stock, as adjusted in accordance with Section 13 of the
Plan. 
 (cc)    “Stock Appreciation Right” means an Award, granted alone or in connection with an
Option, that pursuant to Section 7 is designated as a Stock Appreciation Right. 

(dd)    “Subsidiary” means a “subsidiary corporation,” whether now or hereafter existing, as
defined in Code Section 424(f). 

3.    Stock Subject to the Plan. 

(a)    Stock Subject to the Plan. Subject to the provisions of Section 13 of the Plan, the maximum aggregate
number of Shares that may be subject to Awards and sold under the Plan is 6,540,416 Shares. The Shares may be authorized but unissued, or reacquired Common Stock. 

(b)    Lapsed Awards. If an Award expires or becomes unexercisable without having been exercised in full, is
surrendered pursuant to an Exchange Program, or, with respect to Restricted Stock or Restricted Stock Units, is forfeited to or repurchased by the Company due to the failure to vest, the unpurchased Shares (or for Awards other than Options or Stock
Appreciation Rights the forfeited or repurchased Shares) which were subject thereto will become available for future grant or sale under the Plan (unless the Plan has terminated). With respect to Stock Appreciation Rights, only Shares actually
issued pursuant to a Stock Appreciation Right will cease to be available under the 

  
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Plan; all remaining Shares under Stock Appreciation Rights will remain available for future grant or sale under the Plan (unless the Plan has terminated). Shares that have actually been issued
under the Plan under any Award will not be returned to the Plan and will not become available for future distribution under the Plan; provided, however, that if Shares issued pursuant to Awards of Restricted Stock or Restricted Stock Units are
repurchased by the Company or are forfeited to the Company due to the failure to vest, such Shares will become available for future grant under the Plan. Shares used to pay the exercise price of an Award or to satisfy the tax withholding obligations
related to an Award will become available for future grant or sale under the Plan. To the extent an Award under the Plan is paid out in cash rather than Shares, such cash payment will not result in reducing the number of Shares available for
issuance under the Plan. Notwithstanding the foregoing and, subject to adjustment as provided in Section 13, the maximum number of Shares that may be issued upon the exercise of Incentive Stock Options will equal the aggregate Share number
stated in Section 3.(a), plus, to the extent allowable under Code Section 422 and the Treasury Regulations promulgated thereunder, any Shares that become available for issuance under the Plan pursuant to Section 3.(b). 

(c)    Share Reserve. The Company, during the term of this Plan, will at all times reserve and keep available such
number of Shares as will be sufficient to satisfy the requirements of the Plan. 
 4.    Administration of the
Plan. 
 (a)    Procedure. 

(i)    Multiple Administrative Bodies. Different Committees with respect to different groups of Service Providers
may administer the Plan. 
 (ii)    Other Administration. Other than as provided above, the Plan will be
administered by (A) the Board or (B) a Committee, which Committee will be constituted to satisfy Applicable Laws. 

(b)    Powers of the Administrator. Subject to the provisions of the Plan, and in the case of a Committee, subject
to the specific duties delegated by the Board to such Committee, the Administrator will have the authority, in its discretion: 

(i)    to determine the Fair Market Value; 

(ii)    to select the Service Providers to whom Awards may be granted hereunder; 

(iii)    to determine the number of Shares to be covered by each Award granted hereunder; 

(iv)    to approve forms of Award Agreements for use under the Plan; 

(v)    to determine the terms and conditions, not inconsistent with the terms of the Plan, of any Award granted
hereunder. Such terms and conditions include, but are not limited to, the exercise price, the time or times when Awards may be exercised (which may be based on performance criteria), any vesting acceleration or waiver of forfeiture restrictions, and
any restriction or limitation regarding any Award or the Shares relating thereto, based in each case on such factors as the Administrator will determine; 

  
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 (vi)    to institute and determine the terms and conditions of an
Exchange Program; 
 (vii)    to construe and interpret the terms of the Plan and Awards granted pursuant to the Plan;

 (viii)    to prescribe, amend and rescind rules and regulations relating to the Plan, including rules and
regulations relating to sub-plans established for the purpose of satisfying applicable foreign laws or for qualifying for favorable tax treatment under applicable foreign laws; 

(ix)    to modify or amend each Award (subject to Section 18(c) of the Plan), including but not limited to the
discretionary authority to extend the post-termination exercisability period of Awards and to extend the maximum term of an Option (subject to Section 6(d)); 

(x)    to allow Participants to satisfy withholding tax obligations in a manner prescribed in Section 14; 

(xi)    to authorize any person to execute on behalf of the Company any instrument required to effect the grant of an
Award previously granted by the Administrator; 
 (xii)    to allow a Participant to defer the receipt of the payment
of cash or the delivery of Shares that otherwise would be due to such Participant under an Award; and 
 (xiii)    to
make all other determinations deemed necessary or advisable for administering the Plan. 
 (c)    Effect of
Administrator’s Decision. The Administrator’s decisions, determinations and interpretations will be final and binding on all Participants and any other holders of Awards. 

5.    Eligibility. Nonstatutory Stock Options, Stock Appreciation Rights, Restricted Stock, and Restricted Stock
Units may be granted to Service Providers. Incentive Stock Options may be granted only to Employees. 
 6.    Stock
Options. 
 (a)    Grant of Options. Subject to the terms and provisions of the Plan, the Administrator, at
any time and from time to time, may grant Options in such amounts as the Administrator, in its sole discretion, will determine. 

(b)    Option Agreement. Each Award of an Option will be evidenced by an Award Agreement that will specify the
exercise price, the term of the Option, the number of Shares subject to the Option, the exercise restrictions, if any, applicable to the Option, and such other terms and conditions as the Administrator, in its sole discretion, will determine. 

  
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 (c)    Limitations. Each Option will be designated in the Award
Agreement as either an Incentive Stock Option or a Nonstatutory Stock Option. Notwithstanding such designation, however, to the extent that the aggregate Fair Market Value of the Shares with respect to which Incentive Stock Options are exercisable
for the first time by the Participant during any calendar year (under all plans of the Company and any Parent or Subsidiary) exceeds one hundred thousand dollars ($100,000), such Options will be treated as Nonstatutory Stock Options. For purposes of
this Section 6(c), Incentive Stock Options will be taken into account in the order in which they were granted, the Fair Market Value of the Shares will be determined as of the time the Option with respect to such Shares is granted, and
calculation will be performed in accordance with Code Section 422 and Treasury Regulations promulgated thereunder. 

(d)    Term of Option. The term of each Option will be stated in the Award Agreement; provided, however, that the
term will be no more than ten (10) years from the date of grant thereof. In the case of an Incentive Stock Option granted to a Participant who, at the time the Incentive Stock Option is granted, owns stock representing more than ten percent
(10%) of the total combined voting power of all classes of stock of the Company or any Parent or Subsidiary, the term of the Incentive Stock Option will be five (5) years from the date of grant or such shorter term as may be provided in the
Award Agreement. 
 (e)    Option Exercise Price and Consideration. 

(i)    Exercise Price. The per Share exercise price for the Shares to be issued pursuant to the exercise of an
Option will be determined by the Administrator, but will be no less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant. In addition, in the case of an Incentive Stock Option granted to an Employee who owns stock
representing more than ten percent (10%) of the voting power of all classes of stock of the Company or any Parent or Subsidiary, the per Share exercise price will be no less than one hundred ten percent (110%) of the Fair Market Value per Share on
the date of grant. Notwithstanding the foregoing provisions of this Section 6(e)(i), Options may be granted with a per Share exercise price of less than one hundred percent (100%) of the Fair Market Value per Share on the date of grant pursuant
to a transaction described in, and in a manner consistent with, Code Section 424(a). 
 (ii)    Waiting Period
and Exercise Dates. At the time an Option is granted, the Administrator will fix the period within which the Option may be exercised and will determine any conditions that must be satisfied before the Option may be exercised. 

(iii)    Form of Consideration. The Administrator will determine the acceptable form of consideration for
exercising an Option, including the method of payment. In the case of an Incentive Stock Option, the Administrator will determine the acceptable form of consideration at the time of grant. Such consideration may consist entirely of: (1) cash;
(2) check; (3) promissory note, to the extent permitted by Applicable Laws, (4) other Shares, provided that such Shares have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which such
Option will be exercised and provided further that accepting such Shares will not result in any adverse accounting consequences to the Company, as the Administrator determines in its sole discretion; (5) consideration received by the Company
under cashless exercise program (whether through a broker or otherwise) implemented by the Company in connection with the Plan; (6) by net exercise, (7) such other consideration and method of payment for the issuance of Shares to

  
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the extent permitted by Applicable Laws, or (8) any combination of the foregoing methods of payment. In making its determination as to the type of consideration to accept, the Administrator
will consider if acceptance of such consideration may be reasonably expected to benefit the Company. 

(f)    Exercise of Option. 

(i)    Procedure for Exercise; Rights as a Stockholder. Any Option granted hereunder will be exercisable according
to the terms of the Plan and at such times and under such conditions as determined by the Administrator and set forth in the Award Agreement. An Option may not be exercised for a fraction of a Share. 

An Option will be deemed exercised when the Company receives: (i) notice of exercise (in such form as the Administrator may specify from
time to time) from the person entitled to exercise the Option, and (ii) full payment for the Shares with respect to which the Option is exercised (together with applicable tax withholding). Full payment may consist of any consideration and
method of payment authorized by the Administrator and permitted by the Award Agreement and the Plan. Shares issued upon exercise of an Option will be issued in the name of the Participant or, if requested by the Participant, in the name of the
Participant and his or her spouse. Until the Shares are issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or any other rights as a
stockholder will exist with respect to the Shares subject to an Option, notwithstanding the exercise of the Option. The Company will issue (or cause to be issued) such Shares promptly after the Option is exercised. No adjustment will be made for a
dividend or other right for which the record date is prior to the date the Shares are issued, except as provided in Section 13 of the Plan. 

Exercising an Option in any manner will decrease the number of Shares thereafter available, both for purposes of the Plan and for sale under
the Option, by the number of Shares as to which the Option is exercised. 
 (ii)    Termination of Relationship as a
Service Provider. If a Participant ceases to be a Service Provider, other than upon the Participant’s termination as the result of the Participant’s death or Disability, the Participant may exercise his or her Option within thirty
(30) days of termination, or such longer period of time as is specified in the Award Agreement (but in no event later than the expiration of the term of such Option as set forth in the Award Agreement) to the extent that the Option is vested on
the date of termination. Unless otherwise provided by the Administrator, if on the date of termination the Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option will revert to the Plan. If
after termination the Participant does not exercise his or her Option within the time specified by the Administrator, the Option will terminate, and the Shares covered by such Option will revert to the Plan. 

(iii)    Disability of Participant. If a Participant ceases to be a Service Provider as a result of the
Participant’s Disability, the Participant may exercise his or her Option within six (6) months of termination, or such longer period of time as is specified in the Award Agreement (but in no event later than the expiration of the term of
such Option as set forth in the Award Agreement) to the extent the Option is vested on the date of termination. Unless otherwise provided by the Administrator, if on the date of termination the Participant is not vested as to his or her entire
Option, the Shares covered by the unvested portion of the Option will revert to the Plan. If after termination the Participant does not exercise his or her Option within the time specified herein, the Option will terminate, and the Shares covered by
such Option will revert to the Plan. 

  
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 (iv)    Death of Participant. If a Participant dies while a
Service Provider, the Option may be exercised within six (6) months following the Participant’s death, or within such longer period of time as is specified in the Award Agreement (but in no event later than the expiration of the term of
such Option as set forth in the Award Agreement) to the extent that the Option is vested on the date of death, by the Participant’s designated beneficiary, provided such beneficiary has been designated prior to the Participant’s death in a
form acceptable to the Administrator. If no such beneficiary has been designated by the Participant, then such Option may be exercised by the personal representative of the Participant’s estate or by the person(s) to whom the Option is
transferred pursuant to the Participant’s will or in accordance with the laws of descent and distribution. Unless otherwise provided by the Administrator, if at the time of death Participant is not vested as to his or her entire Option, the
Shares covered by the unvested portion of the Option will immediately revert to the Plan. If the Option is not so exercised within the time specified herein, the Option will terminate, and the Shares covered by such Option will revert to the Plan.

 7.    Stock Appreciation Rights. 

(a)    Grant of Stock Appreciation Rights. Subject to the terms and conditions of the Plan, a Stock Appreciation
Right may be granted to Service Providers at any time and from time to time as will be determined by the Administrator, in its sole discretion. 

(b)    Number of Shares. The Administrator will have complete discretion to determine the number of Shares subject
to any Award of Stock Appreciation Rights. 
 (c)    Exercise Price and Other Terms. The per Share exercise price
for the Shares that will determine the amount of the payment to be received upon exercise of a Stock Appreciation Right as set forth in Section 7(f) will be determined by the Administrator and will be no less than one hundred percent (100%) of
the Fair Market Value per Share on the date of grant. Otherwise, the Administrator, subject to the provisions of the Plan, will have complete discretion to determine the terms and conditions of Stock Appreciation Rights granted under the Plan. 

(d)    Stock Appreciation Right Agreement. Each Stock Appreciation Right grant will be evidenced by an Award
Agreement that will specify the exercise price, the term of the Stock Appreciation Right, the conditions of exercise, and such other terms and conditions as the Administrator, in its sole discretion, will determine. 

(e)    Expiration of Stock Appreciation Rights. A Stock Appreciation Right granted under the Plan will expire upon
the date determined by the Administrator, in its sole discretion, and set forth in the Award Agreement. Notwithstanding the foregoing, the rules of Section 6(d) relating to the maximum term and Section 6(f) relating to exercise also will
apply to Stock Appreciation Rights. 
 (f)    Payment of Stock Appreciation Right Amount. Upon exercise of a
Stock Appreciation Right, a Participant will be entitled to receive payment from the Company in an amount determined by multiplying: 

(i)    The difference between the Fair Market Value of a Share on the date of exercise over the exercise price; times

  
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 (ii)    The number of Shares with respect to which the Stock
Appreciation Right is exercised. 
 At the discretion of the Administrator, the payment upon Stock Appreciation Right exercise may be in
cash, in Shares of equivalent value, or in some combination thereof. 
 8.    Restricted Stock. 

(a)    Grant of Restricted Stock. Subject to the terms and provisions of the Plan, the Administrator, at any time
and from time to time, may grant Shares of Restricted Stock to Service Providers in such amounts as the Administrator, in its sole discretion, will determine. 

(b)    Restricted Stock Agreement. Each Award of Restricted Stock will be evidenced by an Award Agreement that will
specify the Period of Restriction, the number of Shares granted, and such other terms and conditions as the Administrator, in its sole discretion, will determine. Unless the Administrator determines otherwise, the Company as escrow agent will hold
Shares of Restricted Stock until the restrictions on such Shares have lapsed. 
 (c)    Transferability. Except
as provided in this Section 8 or as the Administrator determines, Shares of Restricted Stock may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated until the end of the applicable Period of Restriction. 

(d)    Other Restrictions. The Administrator, in its sole discretion, may impose such other restrictions on Shares
of Restricted Stock as it may deem advisable or appropriate. 
 (e)    Removal of Restrictions. Except as
otherwise provided in this Section 8, Shares of Restricted Stock covered by each Restricted Stock grant made under the Plan will be released from escrow as soon as practicable after the last day of the Period of Restriction or at such other
time as the Administrator may determine. The Administrator, in its discretion, may accelerate the time at which any restrictions will lapse or be removed. 

(f)    Voting Rights. During the Period of Restriction, Service Providers holding Shares of Restricted Stock
granted hereunder may exercise full voting rights with respect to those Shares, unless the Administrator determines otherwise. 

(g)    Dividends and Other Distributions. During the Period of Restriction, Service Providers holding Shares of
Restricted Stock will be entitled to receive all dividends and other distributions paid with respect to such Shares, unless the Administrator provides otherwise. If any such dividends or distributions are paid in Shares, the Shares will be subject
to the same restrictions on transferability and forfeitability as the Shares of Restricted Stock with respect to which they were paid. 

(h)    Return of Restricted Stock to Company. On the date set forth in the Award Agreement, the Restricted Stock
for which restrictions have not lapsed will revert to the Company and again will become available for grant under the Plan. 

  
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 9.    Restricted Stock Units. 

(a)    Grant. Restricted Stock Units may be granted at any time and from time to time as determined by the
Administrator. After the Administrator determines that it will grant Restricted Stock Units, it will advise the Participant in an Award Agreement of the terms, conditions, and restrictions related to the grant, including the number of Restricted
Stock Units. 
 (b)    Vesting Criteria and Other Terms. The Administrator will set vesting criteria in its
discretion, which, depending on the extent to which the criteria are met, will determine the number of Restricted Stock Units that will be paid out to the Participant. The Administrator may set vesting criteria based upon the achievement of
Company-wide, business unit, or individual goals (including, but not limited to, continued employment or service), or any other basis determined by the Administrator in its discretion. 

(c)    Earning Restricted Stock Units. Upon meeting the applicable vesting criteria, the Participant will be
entitled to receive a payout as determined by the Administrator. Notwithstanding the foregoing, at any time after the grant of Restricted Stock Units, the Administrator, in its sole discretion, may reduce or waive any vesting criteria that must be
met to receive a payout. 
 (d)    Form and Timing of Payment. Payment of earned Restricted Stock Units will be
made as soon as practicable after the date(s) determined by the Administrator and set forth in the Award Agreement. The Administrator, in its sole discretion, may settle earned Restricted Stock Units in cash, Shares, or a combination of both. 

(e)    Cancellation. On the date set forth in the Award Agreement, all unearned Restricted Stock Units will be
forfeited to the Company. 
 10.    Compliance With Code Section 409A. Awards will be designed
and operated in such a manner that they are either exempt from the application of, or comply with, the requirements of Code Section 409A, except as otherwise determined in the sole discretion of the Administrator. The Plan and each Award
Agreement under the Plan is intended to meet the requirements of Code Section 409A and will be construed and interpreted in accordance with such intent, except as otherwise determined in the sole discretion of the Administrator. To the
extent that an Award or payment, or the settlement or deferral thereof, is subject to Code Section 409A the Award will be granted, paid, settled or deferred in a manner that will meet the requirements of Code Section 409A, such that the
grant, payment, settlement or deferral will not be subject to the additional tax or interest applicable under Code Section 409A. 

11.    Leaves of Absence/Transfer Between Locations. Unless the Administrator provides otherwise, vesting of Awards
granted hereunder will be suspended during any unpaid leave of absence. A Participant will not cease to be an Employee in the case of (i) any leave of absence approved by the Company or (ii) transfers between locations of the Company or
between the Company, its Parent, or any Subsidiary. For purposes of Incentive Stock Options, no such leave may exceed three (3) months, unless reemployment upon expiration of such leave is guaranteed by statute or contract. If reemployment upon
expiration of a leave of absence approved by the Company is not so guaranteed, then six (6) months following the first (1st) day of such leave, any Incentive Stock Option held by the
Participant will cease to be treated as an Incentive Stock Option and will be treated for tax purposes as a Nonstatutory Stock Option. 

  
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 12.    Limited Transferability of Awards. 

(a)    Unless determined otherwise by the Administrator, Awards may not be sold, pledged, assigned, hypothecated, or
otherwise transferred in any manner other than by will or by the laws of descent and distribution, and may be exercised, during the lifetime of the Participant, only by the Participant. If the Administrator makes an Award transferable, such Award
may only be transferred (i) by will, (ii) by the laws of descent and distribution, or (iii) as permitted by Rule 701 of the Securities Act of 1933, as amended (the “Securities Act”). 

(b)    Further, until the Company becomes subject to the reporting requirements of Section 13 or 15(d) of the
Exchange Act, or after the Administrator determines that it is, will, or may no longer be relying upon the exemption from registration under the Exchange Act as set forth in Rule 12h-1(f) promulgated under the
Exchange Act, an Option, or prior to exercise, the Shares subject to the Option, may not be pledged, hypothecated or otherwise transferred or disposed of, in any manner, including by entering into any short position, any “put equivalent
position” or any “call equivalent position” (as defined in Rule 16a-1(h) and Rule 16a-1(b) of the Exchange Act, respectively), other than to
(i) persons who are “family members” (as defined in Rule 701(c)(3) of the Securities Act) through gifts or domestic relations orders, or (ii) to an executor or guardian of the Participant upon the death or disability of the
Participant. Notwithstanding the foregoing sentence, the Administrator, in its sole discretion, may determine to permit transfers to the Company or in connection with a Change in Control or other acquisition transactions involving the Company to the
extent permitted by Rule 12h-1(f). 
 13.    Adjustments; Dissolution or
Liquidation; Merger or Change in Control. 
 (a)    Adjustments. In the event that any dividend or other
distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares occurs, the Administrator, in order to
prevent diminution or enlargement of the benefits or potential benefits intended to be made available under the Plan, will adjust the number and class of shares of stock that may be delivered under the Plan and/or the number, class, and price of
shares of stock covered by each outstanding Award; provided, however, that the Administrator will make such adjustments to an Award required by Section 25102(o) of the California Corporations Code to the extent the Company is relying upon the
exemption afforded thereby with respect to the Award. 
 (b)    Dissolution or Liquidation. In the event of the
proposed dissolution or liquidation of the Company, the Administrator will notify each Participant as soon as practicable prior to the effective date of such proposed transaction. To the extent it has not been previously exercised, an Award will
terminate immediately prior to the consummation of such proposed action. 
 (c)    Merger or Change in Control.
In the event of a merger of the Company with or into another corporation or other entity or a Change in Control, each outstanding Award will be treated as the Administrator determines (subject to the provisions of the following paragraph) without a

  
 -12- 

 
Participant’s consent, including, without limitation, that (i) Awards will be assumed, or substantially equivalent Awards will be substituted, by the acquiring or succeeding corporation
(or an affiliate thereof) with appropriate adjustments as to the number and kind of shares and prices; (ii) upon written notice to a Participant, that the Participant’s Awards will terminate upon or immediately prior to the consummation of
such merger or Change in Control; (iii) outstanding Awards will vest and become exercisable, realizable, or payable, or restrictions applicable to an Award will lapse, in whole or in part prior to or upon consummation of such merger or Change
in Control, and, to the extent the Administrator determines, terminate upon or immediately prior to the effectiveness of such merger or Change in Control; (iv) (A) the termination of an Award in exchange for an amount of cash and/or property,
if any, equal to the amount that would have been attained upon the exercise of such Award or realization of the Participant’s rights as of the date of the occurrence of the transaction (and, for the avoidance of doubt, if as of the date of the
occurrence of the transaction the Administrator determines in good faith that no amount would have been attained upon the exercise of such Award or realization of the Participant’s rights, then such Award may be terminated by the Company
without payment), or (B) the replacement of such Award with other rights or property selected by the Administrator in its sole discretion; or (v) any combination of the foregoing. In taking any of the actions permitted under this
subsection 13(c), the Administrator will not be obligated to treat all Awards, all Awards held by a Participant, or all Awards of the same type, similarly. 

In the event that the successor corporation does not assume or substitute for the Award (or portion thereof), the Participant will fully vest
in and have the right to exercise all of his or her outstanding Options and Stock Appreciation Rights, including Shares as to which such Awards would not otherwise be vested or exercisable, all restrictions on Restricted Stock and Restricted Stock
Units will lapse, and, with respect to Awards with performance-based vesting, all performance goals or other vesting criteria will be deemed achieved at one hundred percent (100%) of target levels and all other terms and conditions met. In addition,
if an Option or Stock Appreciation Right is not assumed or substituted in the event of a merger or Change in Control, the Administrator will notify the Participant in writing or electronically that the Option or Stock Appreciation Right will be
exercisable for a period of time determined by the Administrator in its sole discretion, and the Option or Stock Appreciation Right will terminate upon the expiration of such period. 

For the purposes of this subsection 13(c), an Award will be considered assumed if, following the merger or Change in Control, the Award
confers the right to purchase or receive, for each Share subject to the Award immediately prior to the merger or Change in Control, the consideration (whether stock, cash, or other securities or property) received in the merger or Change in Control
by holders of Common Stock for each Share held on the effective date of the transaction (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding Shares); provided,
however, that if such consideration received in the merger or Change in Control is not solely common stock of the successor corporation or its Parent, the Administrator may, with the consent of the successor corporation, provide for the
consideration to be received upon the exercise of an Option or Stock Appreciation Right or upon the payout of a Restricted Stock Unit, for each Share subject to such Award, to be solely common stock of the successor corporation or its Parent equal
in fair market value to the per share consideration received by holders of Common Stock in the merger or Change in Control. 

Notwithstanding anything in this Section 13(c) to the contrary, an Award that vests, is earned or
paid-out upon the satisfaction of one or more performance goals will not be considered 

  
 -13- 

 
assumed if the Company or its successor modifies any of such performance goals without the Participant’s consent; provided, however, a modification to such performance goals only to reflect
the successor corporation’s post-Change in Control corporate structure will not be deemed to invalidate an otherwise valid Award assumption. 

Notwithstanding anything in this Section 13(c) to the contrary, if a payment under an Award Agreement is subject to Code
Section 409A and if the change in control definition contained in the Award Agreement does not comply with the definition of “change of control” for purposes of a distribution under Code Section 409A, then any payment of an
amount that is otherwise accelerated under this Section will be delayed until the earliest time that such payment would be permissible under Code Section 409A without triggering any penalties applicable under Code Section 409A. 

14.    Tax Withholding. 

(a)    Withholding Requirements. Prior to the delivery of any Shares or cash pursuant to an Award (or exercise
thereof), the Company will have the power and the right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy federal, state, local, foreign or other taxes (including the Participant’s FICA
obligation) required to be withheld with respect to such Award (or exercise thereof). 
 (b)    Withholding
Arrangements. The Administrator, in its sole discretion and pursuant to such procedures as it may specify from time to time, may permit a Participant to satisfy such tax withholding obligation, in whole or in part by (without
limitation) (i) paying cash, (ii) electing to have the Company withhold otherwise deliverable Shares having a Fair Market Value equal to the minimum statutory amount required to be withheld, (iii) delivering to the Company
already-owned Shares having a Fair Market Value equal to the statutory amount required to be withheld, provided the delivery of such Shares will not result in any adverse accounting consequences, as the Administrator determines in its sole
discretion, or (iv) selling a sufficient number of Shares otherwise deliverable to the Participant through such means as the Administrator may determine in its sole discretion (whether through a broker or otherwise) equal to the amount required
to be withheld. The amount of the withholding requirement will be deemed to include any amount which the Administrator agrees may be withheld at the time the election is made, not to exceed the amount determined by using the maximum federal, state
or local marginal income tax rates applicable to the Participant with respect to the Award on the date that the amount of tax to be withheld is to be determined. The Fair Market Value of the Shares to be withheld or delivered will be determined as
of the date that the taxes are required to be withheld. 
 15.    No Effect on Employment or Service. Neither the
Plan nor any Award will confer upon a Participant any right with respect to continuing the Participant’s relationship as a Service Provider with the Company, nor will they interfere in any way with the Participant’s right or the
Company’s right to terminate such relationship at any time, with or without cause, to the extent permitted by Applicable Laws. 

16.    Date of Grant. The date of grant of an Award will be, for all purposes, the date on which the Administrator
makes the determination granting such Award, or such other later date as is determined by the Administrator. Notice of the determination will be provided to each Participant within a reasonable time after the date of such grant. 

  
 -14- 

 17.    Term of Plan. Subject to Section 21 of the Plan, the
Plan will become effective upon its adoption by the Board. Unless sooner terminated under Section 18, it will continue in effect for a term of ten (10) years from the later of (a) the effective date of the Plan, or (b) the
earlier of the most recent Board or stockholder approval of an increase in the number of Shares reserved for issuance under the Plan. 

18.    Amendment and Termination of the Plan. 

(a)    Amendment and Termination. The Board may at any time amend, alter, suspend or terminate the Plan. 

(b)    Stockholder Approval. The Company will obtain stockholder approval of any Plan amendment to the extent
necessary and desirable to comply with Applicable Laws. 
 (c)    Effect of Amendment or Termination. No
amendment, alteration, suspension or termination of the Plan will impair the rights of any Participant, unless mutually agreed otherwise between the Participant and the Administrator, which agreement must be in writing and signed by the Participant
and the Company. Termination of the Plan will not affect the Administrator’s ability to exercise the powers granted to it hereunder with respect to Awards granted under the Plan prior to the date of such termination. 

19.    Conditions Upon Issuance of Shares. 

(a)    Legal Compliance. Shares will not be issued pursuant to the exercise of an Award unless the exercise of such
Award and the issuance and delivery of such Shares will comply with Applicable Laws and will be further subject to the approval of counsel for the Company with respect to such compliance. 

(b)    Investment Representations. As a condition to the exercise of an Award, the Company may require the person
exercising such Award to represent and warrant at the time of any such exercise that the Shares are being purchased only for investment and without any present intention to sell or distribute such Shares if, in the opinion of counsel for the
Company, such a representation is required. 
 20.    Inability to Obtain Authority. The inability of the Company
to obtain authority from any regulatory body having jurisdiction, which authority is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, will relieve the Company of any liability in respect
of the failure to issue or sell such Shares as to which such requisite authority will not have been obtained. 

21.    Stockholder Approval. The Plan will be subject to approval by the stockholders of the Company within twelve
(12) months after the date the Plan is adopted by the Board. Such stockholder approval will be obtained in the manner and to the degree required under Applicable Laws. 

22.    Information to Participants. Beginning on the earlier of (i) the date that the aggregate number of
Participants under this Plan is five hundred (500) or more and the Company is relying on the exemption provided by Rule 12h-1(f)(1) under the Exchange Act and (ii) the date that the Company is
required to deliver information to Participants pursuant to Rule 701 under the Securities Act, and 

  
 -15- 

 
until such time as the Company becomes subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act, is no longer relying on the exemption provided by Rule 12h-1(f)(1) under the Exchange Act or is no longer required to deliver information to Participants pursuant to Rule 701 under the Securities Act, the Company shall provide to each Participant the information
described in paragraphs (e)(3), (4), and (5) of Rule 701 under the Securities Act not less frequently than every six (6) months with the financial statements being not more than 180 days old and with such information provided either by
physical or electronic delivery to the Participants or by written notice to the Participants of the availability of the information on an Internet site that may be password-protected and of any password needed to access the information. The Company
may request that Participants agree to keep the information to be provided pursuant to this section confidential. If a Participant does not agree to keep the information to be provided pursuant to this section confidential, then the Company will not
be required to provide the information unless otherwise required pursuant to Rule 12h-1(f)(1) under the Exchange Act or Rule 701 of the Securities Act. 

  
 -16- 

 ARCELLX, INC. 

AMENDMENT NO. 5 TO 2017 EQUITY INCENTIVE PLAN 

This Amendment No. 5 to the Arcellx, Inc. 2017 Equity Incentive Plan (this “Amendment”) is effective as of
April 9, 2021, and amends the 2017 Equity Incentive Plan (as amended, the “Plan”) pursuant to Section 18 of the Plan. 

Unless otherwise expressly provided for in this Amendment, all capitalized words or phrases or other defined terms used in this Amendment will
have the same meaning ascribed to them in the Plan. 
 Section 3(a) of the Plan is amended and restated in its entirety to read as
follows: 
 “Stock Subject to the Plan. Subject to the provisions of Section 13 of the Plan, the maximum
aggregate number of Shares that may be subject to Awards and sold under the Plan is 42,870,211 Shares. The Shares may be authorized but unissued, or reacquired Common Stock.” 

Except as set forth herein, the Plan shall remain in full force and effect without modification. 

(Signature Page Follows) 

 I hereby certify that the foregoing Amendment was duly approved by the Board of Directors
and the Stockholders of Arcellx, Inc. effective as of the date set forth above. 
  

			
	By:	 	 /s/ Rami Elghandour

		 	Rami Elghandour
		 	President and Chief Executive Officer

 ARCELLX, INC. 

2017 EQUITY INCENTIVE PLAN 

STOCK OPTION AGREEMENT 

Unless otherwise defined herein, the terms defined in the 2017 Equity Incentive Plan (the “Plan”) shall have the same defined
meanings in this Stock Option Agreement (the “Option Agreement”). 
  

	I.	 NOTICE OF STOCK OPTION GRANT 

 

			
	Name:	  	«Name»
		
	Address:	  	«Address»
	 	  	«City_State_Zip»

 The undersigned Participant has been granted an Option to purchase Common Stock of the Company, subject to the
terms and conditions of the Plan and this Option Agreement, as follows: 
  

			
	Date of Grant:	  	«Grant_Date»
		
	Vesting Commencement Date:	  	«Vest_Date»
		
	Exercise Price per Share:	  	$ «Price_Per_Share»
		
	Total Number of Shares Granted:	  	«Shares»
		
	Total Exercise Price:	  	$ «Total_Price»
		
	Type of Option:	  	«ISO» Incentive Stock Option
		
	 	  	«NSO» Nonstatutory Stock Option
		
	Term/Expiration Date:	  	«Expire_Date»

 Vesting Schedule: 

This Option shall be exercisable, in whole or in part, according to the following vesting schedule: 

[Twenty-five percent (25%) of the Shares subject to the Option shall vest on the one (1) year anniversary of the Vesting Commencement
Date, and one forty-eighth (1/48th) of the Shares subject to the Option shall vest each month thereafter on the same day of the month as the Vesting Commencement Date (and if there is no
corresponding day, on the last day of the month), subject to Participant continuing to be a Service Provider through each such date.] 
  

 Termination Period: 

This Option shall be exercisable for [three (3) months] after Participant ceases to be a Service Provider, unless such termination is due
to Participant’s death or Disability, in which case this Option shall be exercisable for [twelve (12) months] after Participant ceases to be a Service Provider. Notwithstanding the foregoing sentence, in no event may this Option be
exercised after the Term/Expiration Date as provided above and this Option may be subject to earlier termination as provided in Section 13 of the Plan. 
  

	II.	 AGREEMENT 

1.    Grant of Option. The Administrator of the Company hereby grants to the Participant named in the Notice of
Stock Option Grant in Part I of this Option Agreement (“Participant”), an option (the “Option”) to purchase the number of Shares set forth in the Notice of Stock Option Grant, at the exercise price per Share set forth in the
Notice of Stock Option Grant (the “Exercise Price”), and subject to the terms and conditions of the Plan, which is incorporated herein by reference. Subject to Section 18 of the Plan, in the event of a conflict between the terms and
conditions of the Plan and this Option Agreement, the terms and conditions of the Plan shall prevail. 
 If designated in the Notice of
Stock Option Grant as an Incentive Stock Option (“ISO”), this Option is intended to qualify as an Incentive Stock Option as defined in Section 422 of the Code. Nevertheless, to the extent that it exceeds the $100,000 rule of Code
Section 422(d), this Option shall be treated as a Nonstatutory Stock Option (“NSO”). Further, if for any reason this Option (or portion thereof) shall not qualify as an ISO, then, to the extent of such nonqualification, such Option
(or portion thereof) shall be regarded as a NSO granted under the Plan. In no event shall the Administrator, the Company or any Parent or Subsidiary or any of their respective employees or directors have any liability to Participant (or any other
person) due to the failure of the Option to qualify for any reason as an ISO. 
 2.    Exercise of Option. 

(a)    Right to Exercise. This Option shall be exercisable during its term in accordance with the Vesting Schedule
set out in the Notice of Stock Option Grant and with the applicable provisions of the Plan and this Option Agreement. 

(b)    Method of Exercise. This Option shall be exercisable by delivery of an exercise notice in the form attached
as Exhibit A (the “Exercise Notice”) or in a manner and pursuant to such procedures as the Administrator may determine, which shall state the election to exercise the Option, the number of Shares with respect to
which the Option is being exercised (the “Exercised Shares”), and such other representations and agreements as may be required by the Company. The Exercise Notice shall be accompanied by payment of the aggregate Exercise Price as to all
Exercised Shares, together with any applicable tax withholding. This Option shall be deemed to be exercised upon receipt by the Company of such fully executed Exercise Notice accompanied by the aggregate Exercise Price, together with any applicable
tax withholding. 
 No Shares shall be issued pursuant to the exercise of an Option unless such issuance and such exercise comply with
Applicable Laws. Assuming such compliance, for income tax purposes the Shares shall be considered transferred to Participant on the date on which the Option is exercised with respect to such Shares. 

  
 -2- 

 3.    Participant’s Representations. In the event the Shares
have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), at the time this Option is exercised, Participant shall, if required by the Company, concurrently with the exercise of all or any portion of this
Option, deliver to the Company his or her Investment Representation Statement in the form attached hereto as Exhibit B. 

4.    Lock-Up Period. Participant hereby agrees that Participant shall not
offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any Common
Stock (or other securities) of the Company or enter into any swap, hedging or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any Common Stock (or other securities) of the Company
held by Participant (other than those included in the registration) for a period specified by the representative of the underwriters of Common Stock (or other securities) of the Company not to exceed one hundred and eighty (180) days following
the effective date of any registration statement of the Company filed under the Securities Act (or such other period as may be requested by the Company or the underwriters to accommodate regulatory restrictions on (i) the publication or other
distribution of research reports and (ii) analyst recommendations and opinions, including, but not limited to, the restrictions contained in NYSE Rule 472(f)(4), or any successor provisions or amendments thereto). 

Participant agrees to execute and deliver such other agreements as may be reasonably requested by the Company or the underwriter which are
consistent with the foregoing or which are necessary to give further effect thereto. In addition, if requested by the Company or the representative of the underwriters of Common Stock (or other securities) of the Company, Participant shall provide,
within ten (10) days of such request, such information as may be required by the Company or such representative in connection with the completion of any public offering of the Company’s securities pursuant to a registration statement filed
under the Securities Act. The obligations described in this Section 4 shall not apply to a registration relating solely to employee benefit plans on Form S-1 or Form
S-8 or similar forms that may be promulgated in the future, or a registration relating solely to a Commission Rule 145 transaction on Form S-4 or similar forms that may
be promulgated in the future. The Company may impose stop-transfer instructions with respect to the shares of Common Stock (or other securities) subject to the foregoing restriction until the end of said one hundred and eighty (180) day (or
other) period. Participant agrees that any transferee of the Option or shares acquired pursuant to the Option shall be bound by this Section 4. 

5.    Method of Payment. Payment of the aggregate Exercise Price shall be by any of the following, or a combination
thereof, at the election of the Participant: 
 (a)    cash; 

(b)    check; 

(c)    consideration received by the Company under a formal cashless exercise program adopted by the Company in connection
with the Plan; or 

  
 -3- 

 (d)    surrender of other Shares which (i) shall be valued at its
Fair Market Value on the date of exercise, and (ii) must be owned free and clear of any liens, claims, encumbrances or security interests, if accepting such Shares, in the sole discretion of the Administrator, shall not result in any adverse
accounting consequences to the Company. 
 6.    Restrictions on Exercise. This Option may not be exercised until
such time as the Plan has been approved by the stockholders of the Company, or if the issuance of such Shares upon such exercise or the method of payment of consideration for such shares would constitute a violation of any Applicable Law. 

7.    Non-Transferability of Option. 

(a)    This Option may not be transferred in any manner otherwise than by will or by the laws of descent or distribution
and may be exercised during the lifetime of Participant only by Participant. The terms of the Plan and this Option Agreement shall be binding upon the executors, administrators, heirs, successors and assigns of Participant. 

(b)    Further, until the Company becomes subject to the reporting requirements of Section 13 or 15(d) of the
Exchange Act, or after the Administrator determines that it is, will, or may no longer be relying upon the exemption from registration of Options under the Exchange Act as set forth in Rule 12h-1(f)
promulgated under the Exchange Act (the “Reliance End Date”), Participant shall not transfer this Option or, prior to exercise, the Shares subject to this Option, in any manner other than (i) to persons who are “family
members” (as defined in Rule 701(c)(3) of the Securities Act) through gifts or domestic relations orders, or (ii) to an executor or guardian of Participant upon the death or disability of Participant. Until the Reliance End Date, the
Options and, prior to exercise, the Shares subject to this Option, may not be pledged, hypothecated or otherwise transferred or disposed of, including by entering into any short position, any “put equivalent position” or any “call
equivalent position” (as defined in Rule 16a-1(h) and Rule 16a-1(b) of the Exchange Act, respectively), other than as permitted in clauses (i) and (ii) of this
paragraph. 
 8.    Term of Option. This Option may be exercised only within the term set out in the Notice of
Stock Option Grant, and may be exercised during such term only in accordance with the Plan and the terms of this Option Agreement. 

9.    Tax Obligations. 

(a)    Tax Withholding. Participant agrees to make appropriate arrangements with the Company (or the Parent or
Subsidiary employing or retaining Participant) for the satisfaction of all Federal, state, local and foreign income and employment tax withholding requirements applicable to the Option exercise. Participant acknowledges and agrees that the Company
may refuse to honor the exercise and refuse to deliver the Shares if such withholding amounts are not delivered at the time of exercise. 

(b)    Notice of Disqualifying Disposition of ISO Shares. If the Option granted to Participant herein is an ISO,
and if Participant sells or otherwise disposes of any of the Shares acquired pursuant to the ISO on or before the later of (i) the date two (2) years after the Date of Grant, or (ii) the date one (1) year after the date of
exercise, Participant shall immediately notify the Company in writing of such disposition. Participant agrees that Participant may be subject to income tax withholding by the Company on the compensation income recognized by Participant. 

  
 -4- 

 (c)    Code Section 409A. Under Code
Section 409A, an Option that vests after December 31, 2004 (or that vested on or prior to such date but which was materially modified after October 3, 2004) that was granted with a per Share exercise price that is determined by the
Internal Revenue Service (the “IRS”) to be less than the Fair Market Value of a Share on the date of grant (a “discount option”) may be considered “deferred compensation.” An Option that is a “discount option”
may result in (i) income recognition by Participant prior to the exercise of the Option, (ii) an additional twenty percent (20%) federal income tax, and (iii) potential penalty and interest charges. The “discount option” may
also result in additional state income, penalty and interest tax to the Participant. Participant acknowledges that the Company cannot and has not guaranteed that the IRS will agree that the per Share exercise price of this Option equals or exceeds
the Fair Market Value of a Share on the date of grant in a later examination. Participant agrees that if the IRS determines that the Option was granted with a per Share exercise price that was less than the Fair Market Value of a Share on the date
of grant, Participant shall be solely responsible for Participant’s costs related to such a determination. 

10.    Entire Agreement; Governing Law. The Plan is incorporated herein by reference. The Plan and this Option
Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and Participant with respect to the subject matter hereof, and
may not be modified adversely to the Participant’s interest except by means of a writing signed by the Company and Participant. This Option Agreement is governed by the internal substantive laws but not the choice of law rules of Delaware. 

11.    No Guarantee of Continued Service. PARTICIPANT ACKNOWLEDGES AND AGREES THAT THE VESTING OF SHARES PURSUANT
TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER AT THE WILL OF THE COMPANY (OR THE PARENT OR SUBSIDIARY EMPLOYING OR RETAINING PARTICIPANT) AND NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THIS OPTION OR
ACQUIRING SHARES HEREUNDER. PARTICIPANT FURTHER ACKNOWLEDGES AND AGREES THAT THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS
A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND SHALL NOT INTERFERE IN ANY WAY WITH PARTICIPANT’S RIGHT OR THE RIGHT OF THE COMPANY (OR THE PARENT OR SUBSIDIARY EMPLOYING OR RETAINING PARTICIPANT) TO TERMINATE
PARTICIPANT’S RELATIONSHIP AS A SERVICE PROVIDER AT ANY TIME, WITH OR WITHOUT CAUSE. 

  
 -5- 

 Participant acknowledges receipt of a copy of the Plan and represents that he or she is
familiar with the terms and provisions thereof, and hereby accepts this Option subject to all of the terms and provisions thereof. Participant has reviewed the Plan and this Option in their entirety, has had an opportunity to obtain the advice of
counsel prior to executing this Option and fully understands all provisions of the Option. Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions arising under
the Plan or this Option. Participant further agrees to notify the Company upon any change in the residence address indicated below. 
  

					
	PARTICIPANT	 		 	ARCELLX, INC.
			
	  
	 		 	  

	Signature	 		 	By
			
	         «Name»
	 		 	  

	Print Name	 		 	Print Name
			
	         «Address»
	 		 	  

		 		 	Title
			
	         «City_State_Zip»
	 		 	
	Residence Address	 		 	

  
 -6- 

 EXHIBIT A 

2017 EQUITY INCENTIVE PLAN 

EXERCISE NOTICE 
 Arcellx, Inc. 

25 West Watkins Mill Road, Suite A 
 Gaithersburg, MD 20878 

Attention: President 

1.    Exercise of Option. Effective as of today,
            ,         , the undersigned (“Participant”) hereby elects to exercise Participant’s option (the “Option”) to
purchase                  shares of the Common Stock (the “Shares”) of Arcellx, Inc. (the “Company”) under and pursuant to the 2017 Equity
Incentive Plan (the “Plan”) and the Stock Option Agreement dated             ,          (the “Option Agreement”). 

2.    Delivery of Payment. Participant herewith delivers to the Company the full purchase price of the Shares, as
set forth in the Option Agreement, and any and all withholding taxes due in connection with the exercise of the Option. 

3.    Representations of Participant. Participant acknowledges that Participant has received, read and understood
the Plan and the Option Agreement and agrees to abide by and be bound by their terms and conditions. 
 4.    Rights
as Stockholder. Until the issuance of the Shares (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or any other rights as a
stockholder shall exist with respect to the Common Stock subject to an Award, notwithstanding the exercise of the Option. The Shares shall be issued to Participant as soon as practicable after the Option is exercised in accordance with the Option
Agreement. No adjustment shall be made for a dividend or other right for which the record date is prior to the date of issuance except as provided in Section 13 of the Plan. 

5.    Company’s Right of First Refusal. Before any Shares held by Participant or any transferee
(either being sometimes referred to herein as the “Holder”) may be sold or otherwise transferred (including transfer by gift or operation of law), the Company or its assignee(s) shall have a right of first refusal to purchase the Shares on
the terms and conditions set forth in this Section 5 (the “Right of First Refusal”). 
 (a)    Notice
of Proposed Transfer. The Holder of the Shares shall deliver to the Company a written notice (the “Notice”) stating: (i) the Holder’s bona fide intention to sell or otherwise transfer such Shares; (ii) the name of each
proposed purchaser or other transferee (“Proposed Transferee”); (iii) the number of Shares to be transferred to each Proposed Transferee; and (iv) the bona fide cash price or other consideration for which the Holder proposes to
transfer the Shares (the “Offered Price”), and the Holder shall offer the Shares at the Offered Price to the Company or its assignee(s). 

 (b)    Exercise of Right of First Refusal. At any time within
thirty (30) days after receipt of the Notice, the Company and/or its assignee(s) may, by giving written notice to the Holder, elect to purchase all, but not less than all, of the Shares proposed to be transferred to any one or more of the
Proposed Transferees, at the purchase price determined in accordance with subsection (c) below. 

(c)    Purchase Price. The purchase price (“Purchase Price”) for the Shares purchased by the Company or
its assignee(s) under this Section 5 shall be the Offered Price. If the Offered Price includes consideration other than cash, the cash equivalent value of the non-cash consideration shall be determined by
the Board of Directors of the Company in good faith. 
 (d)    Payment. Payment of the Purchase Price shall be
made, at the option of the Company or its assignee(s), in cash (by check), by cancellation of all or a portion of any outstanding indebtedness of the Holder to the Company (or, in the case of repurchase by an assignee, to the assignee), or by any
combination thereof within thirty (30) days after receipt of the Notice or in the manner and at the times set forth in the Notice. 

(e)    Holder’s Right to Transfer. If all of the Shares proposed in the Notice to be transferred to a given
Proposed Transferee are not purchased by the Company and/or its assignee(s) as provided in this Section 5, then the Holder may sell or otherwise transfer such Shares to that Proposed Transferee at the Offered Price or at a higher price,
provided that such sale or other transfer is consummated within one hundred and twenty (120) days after the date of the Notice, that any such sale or other transfer is effected in accordance with any applicable securities laws and that
the Proposed Transferee agrees in writing that the provisions of this Section 5 shall continue to apply to the Shares in the hands of such Proposed Transferee. If the Shares described in the Notice are not transferred to the Proposed Transferee
within such period, a new Notice shall be given to the Company, and the Company and/or its assignees shall again be offered the Right of First Refusal before any Shares held by the Holder may be sold or otherwise transferred. 

(f)    Exception for Certain Family Transfers. Anything to the contrary contained in this Section 5
notwithstanding, the transfer of any or all of the Shares during the Participant’s lifetime or on the Participant’s death by will or intestacy to the Participant’s immediate family or a trust for the benefit of the Participant’s
immediate family shall be exempt from the provisions of this Section 5. “Immediate Family” as used herein shall mean spouse, lineal descendant or antecedent, father, mother, brother or sister. In such case, the transferee or other
recipient shall receive and hold the Shares so transferred subject to the provisions of this Section 5, and there shall be no further transfer of such Shares except in accordance with the terms of this Section 5. 

(g)    Termination of Right of First Refusal. The Right of First Refusal shall terminate as to any Shares upon the
earlier of (i) the first sale of Common Stock of the Company to the general public, or (ii) a Change in Control in which the successor corporation has equity securities that are publicly traded. 

6.    Tax Consultation. Participant understands that Participant may suffer adverse tax consequences as a result of
Participant’s purchase or disposition of the Shares. Participant represents that Participant has consulted with any tax consultants Participant deems advisable in connection with the purchase or disposition of the Shares and that Participant is
not relying on the Company for any tax advice. 

  
 -2- 

 7.    Restrictive Legends and Stop-Transfer Orders. 

(a)    Legends. Participant understands and agrees that the Company shall cause the legends set forth below or
legends substantially equivalent thereto, to be placed upon any certificate(s) evidencing ownership of the Shares together with any other legends that may be required by the Company or by state or federal securities laws: 

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”) AND MAY NOT BE OFFERED, SOLD
OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER THE ACT OR, IN THE OPINION OF COUNSEL SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS IN COMPLIANCE
THEREWITH. 
 THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER AND A RIGHT OF FIRST REFUSAL HELD BY
THE ISSUER OR ITS ASSIGNEE(S) AS SET FORTH IN THE EXERCISE NOTICE BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. SUCH TRANSFER RESTRICTIONS AND RIGHT OF FIRST
REFUSAL ARE BINDING ON TRANSFEREES OF THESE SHARES. 
 THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFER FOR
A PERIOD OF TIME FOLLOWING THE EFFECTIVE DATE OF THE UNDERWRITTEN PUBLIC OFFERING OF THE COMPANY’S SECURITIES SET FORTH IN AN AGREEMENT BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES AND MAY NOT BE SOLD OR OTHERWISE DISPOSED OF BY
THE HOLDER PRIOR TO THE EXPIRATION OF SUCH PERIOD WITHOUT THE CONSENT OF THE COMPANY OR THE MANAGING UNDERWRITER. 

(b)    Stop-Transfer Notices. Participant agrees that, in order to ensure compliance with the restrictions referred
to herein, the Company may issue appropriate “stop transfer” instructions to its transfer agent, if any, and that, if the Company transfers its own securities, it may make appropriate notations to the same effect in its own records.

 (c)    Refusal to Transfer. The Company shall not be required (i) to transfer on its books any Shares
that have been sold or otherwise transferred in violation of any of the provisions of this Exercise Notice or (ii) to treat as owner of such Shares or to accord the right to vote or pay dividends to any purchaser or other transferee to whom
such Shares shall have been so transferred. 

  
 -3- 

 8.    Successors and Assigns. The Company may assign any of its
rights under this Exercise Notice to single or multiple assignees, and this Exercise Notice shall inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth, this Exercise Notice shall
be binding upon Participant and his or her heirs, executors, administrators, successors and assigns. 

9.    Interpretation. Any dispute regarding the interpretation of this Exercise Notice shall be submitted by
Participant or by the Company forthwith to the Administrator, which shall review such dispute at its next regular meeting. The resolution of such a dispute by the Administrator shall be final and binding on all parties. 

10.    Governing Law; Severability. This Exercise Notice is governed by the internal substantive laws, but not the
choice of law rules, of Delaware. In the event that any provision hereof becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, this Exercise Notice shall continue in full force and effect. 

11.    Entire Agreement. The Plan and Option Agreement are incorporated herein by reference. This Exercise Notice,
the Plan, the Option Agreement and the Investment Representation Statement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company
and Participant with respect to the subject matter hereof, and may not be modified adversely to the Participant’s interest except by means of a writing signed by the Company and Participant. 

 

					
	Submitted by:	 		 	Accepted by:
			
	PARTICIPANT	 		 	ARCELLX, INC.
			
	  
	 		 	  

	Signature	 		 	By
			
	 «Name»
	 		 	  

	Print Name	 		 	Print Name
			
		 		 	  

		 		 	Title
	Address:	 		 	
		 		 	Address:
	 «Address»
	 		 	
	  

«City_State_Zip»
	 		 	 25 West Watkins Mill Road, Suite A

Gaithersburg, MD 20878

			
		 		 	  

		 		 	Date Received

  
 -4- 

 EXHIBIT B 

INVESTMENT REPRESENTATION STATEMENT 
  

					
	PARTICIPANT	  	:	  	«Name»
			
	COMPANY	  	:	  	ARCELLX, INC.
			
	SECURITY	  	:	  	COMMON STOCK
			
	AMOUNT	  	:	  	«Shares»
			
	DATE	  	:	  	

 In connection with the purchase of the above-listed Securities, the undersigned Participant represents to the
Company the following: 
 (a)    Participant is aware of the Company’s business affairs and financial condition and
has acquired sufficient information about the Company to reach an informed and knowledgeable decision to acquire the Securities. Participant is acquiring these Securities for investment for Participant’s own account only and not with a view to,
or for resale in connection with, any “distribution” thereof within the meaning of the Securities Act of 1933, as amended (the “Securities Act”). 

(b)    Participant acknowledges and understands that the Securities constitute “restricted securities” under the
Securities Act and have not been registered under the Securities Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of Participant’s investment intent as expressed herein.
In this connection, Participant understands that, in the view of the Securities and Exchange Commission, the statutory basis for such exemption may be unavailable if Participant’s representation was predicated solely upon a present intention to
hold these Securities for the minimum capital gains period specified under tax statutes, for a deferred sale, for or until an increase or decrease in the market price of the Securities, or for a period of one (1) year or any other fixed period
in the future. Participant further understands that the Securities must be held indefinitely unless they are subsequently registered under the Securities Act or an exemption from such registration is available. Participant further acknowledges and
understands that the Company is under no obligation to register the Securities. Participant understands that the certificate evidencing the Securities shall be imprinted with any legend required under applicable state securities laws. 

(c)    Participant is familiar with the provisions of Rule 701 and Rule 144, each promulgated under the
Securities Act, which, in substance, permit limited public resale of “restricted securities” acquired, directly or indirectly from the issuer thereof, in a non-public offering subject to the
satisfaction of certain conditions. Rule 701 provides that if the issuer qualifies under Rule 701 at the time of the grant of the Option to Participant, the exercise shall be exempt from registration under the Securities Act. In the event
the Company becomes subject to the reporting requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, ninety (90) days thereafter (or such longer period as any market stand-off
agreement may require) the Securities exempt under Rule 701 may be resold, 

 
subject to the satisfaction of the applicable conditions specified by Rule 144, including in the case of affiliates (1) the availability of certain public information about the Company,
(2) the amount of Securities being sold during any three (3) month period not exceeding specified limitations, (3) the resale being made in an unsolicited “broker’s transaction,” transactions directly with a
“market maker” or “riskless principal transactions” (as those terms are defined under the Securities Exchange Act of 1934) and (4) the timely filing of a Form 144, if applicable. 

In the event that the Company does not qualify under Rule 701 at the time of grant of the Option, then the Securities may be resold in
certain limited circumstances subject to the provisions of Rule 144, which may require (i) the availability of current public information about the Company; (ii) the resale to occur more than a specified period after the purchase and
full payment (within the meaning of Rule 144) for the Securities; and (iii) in the case of the sale of Securities by an affiliate, the satisfaction of the conditions set forth in sections (2), (3) and (4) of the paragraph
immediately above. 
 (d)    Participant further understands that in the event all of the applicable requirements of
Rule 701 or 144 are not satisfied, registration under the Securities Act, compliance with Regulation A, or some other registration exemption shall be required; and that, notwithstanding the fact that Rules 144 and 701 are not exclusive,
the Staff of the Securities and Exchange Commission has expressed its opinion that persons proposing to sell private placement securities other than in a registered offering and otherwise than pursuant to Rules 144 or 701 shall have a
substantial burden of proof in establishing that an exemption from registration is available for such offers or sales, and that such persons and their respective brokers who participate in such transactions do so at their own risk. Participant
understands that no assurances can be given that any such other registration exemption shall be available in such event. 
  

	
	PARTICIPANT
	
	  

	Signature
	
	 «Name»

	Print Name
	
	  

	Date

  
 -2- 

 ARCELLX, INC. 

2017 EQUITY INCENTIVE PLAN 

RESTRICTED STOCK UNIT AWARD AGREEMENT 

Unless otherwise defined herein, the terms defined in the 2017 Equity Incentive Plan (the “Plan”) shall have the same defined
meanings in this Restricted Stock Unit Award Agreement (the “Award Agreement”). 
  

	I.	 NOTICE OF GRANT OF RESTRICTED STOCK UNITS 

Name:     

Address:     

The undersigned Participant has been granted the right to receive an Award of Restricted Stock Units, subject to the terms and conditions of
the Plan and this Award Agreement, as follows: 
 Date of Grant:     

Number of Restricted Stock Units:     

Vesting Commencement Date: 

Vesting Schedule: 

Subject to any acceleration provisions contained in the Plan or set forth below, the Restricted Stock Units shall vest in accordance with the
following schedule: 

[                    ] 

In the event Participant ceases to be a Service Provider for any or no reason before Participant vests in the Restricted Stock Units, the
Restricted Stock Units and Participant’s right to acquire any Shares hereunder will immediately terminate. 
  

	II.	 AGREEMENT 

1.    Grant of Restricted Stock Units. The Company hereby grants to the individual (“Participant”) named
in the Notice of Grant of Restricted Stock Units in Part I of this Award Agreement (the “Notice of Grant”) under the Plan an Award of Restricted Stock Units, subject to all of the terms and conditions in this Award Agreement and the Plan,
which is incorporated herein by reference. Subject to Section 18(c) of the Plan, in the event of a conflict between the terms and conditions of the Plan and this Award Agreement, the terms and conditions of the Plan shall prevail. 

 

 2.    Company’s Obligation to Pay. Each Restricted Stock
Unit represents the right to receive a Share on the date it vests. Unless and until the Restricted Stock Units will have vested in the manner set forth in Section 4, Participant will have no right to payment of any such Restricted Stock Units.
Prior to actual payment of any vested Restricted Stock Units, such Restricted Stock Unit will represent an unsecured obligation of the Company, payable (if at all) only from the general assets of the Company. 

3.    Participant’s Representations. In the event the Shares have not been registered under the Securities Act
of 1933, as amended (the “Securities Act”) at the time the Restricted Stock Units are paid to Participant, Participant shall, if required by the Company, concurrently with the receipt of all or any portion of this Restricted Stock Unit
Award, deliver to the Company his or her Investment Representation Statement in the form attached hereto as Exhibit A. 

4.    Vesting Schedule. Except as provided in Section 6, and subject to Section 7, the Restricted Stock
Units awarded by this Award Agreement will vest in accordance with the vesting schedule set forth in the Notice of Grant, subject to Participant continuing to be a Service Provider through each applicable vesting date. 

5.    Lock-Up Period. Participant hereby agrees that Participant shall not
offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any Common
Stock (or other securities) of the Company or enter into any swap, hedging or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any Common Stock (or other securities) of the Company
held by Participant (other than those included in the registration) for a period specified by the representative of the underwriters of Common Stock (or other securities) of the Company not to exceed one hundred and eighty (180) days following
the effective date of any registration statement of the Company filed under the Securities Act (or such other period as may be requested by the Company or the underwriters to accommodate regulatory restrictions on (i) the publication or other
distribution of research reports and (ii) analyst recommendations and opinions, including, but not limited to, the restrictions contained in NASD Rule 2711(f)(4) or NYSE Rule 472(f)(4), or any successor provisions or amendments
thereto) (such period, the “Lock-Up Period”). 
 Participant agrees to execute and deliver
such other agreements as may be reasonably requested by the Company or the underwriter which are consistent with the foregoing or which are necessary to give further effect thereto. In addition, if requested by the Company or the representative of
the underwriters of Common Stock (or other securities) of the Company, Participant shall provide, within ten (10) days of such request, such information as may be required by the Company or such representative in connection with the completion
of any public offering of the Company’s securities pursuant to a registration statement filed under the Securities Act. The obligations described in this Section 5 shall not apply to a registration relating solely to employee benefit plans
on Form S-1 or Form S-8 or similar forms that may be promulgated in the future, or a registration relating solely to a Commission Rule 145 transaction on Form S-4 or similar forms that may be promulgated in the future. The Company may impose stop-transfer instructions with respect to the shares of Common Stock (or other securities) subject to the foregoing restriction
until the end of said one hundred and eighty (180) day (or other) period. Participant agrees that any transferee of the Restricted Stock Unit Award or Shares acquired pursuant to the Restricted Stock Unit Award shall be bound by this
Section 5. 

  
 2 

 6.    Payment after Vesting. 

(a)    General Rule. Subject to Section 10, any Restricted Stock Units that vest will be paid to Participant
(or in the event of Participant’s death, to his or her properly designated beneficiary or estate) in whole Shares. Subject to the provisions of Section 6(b), such vested Restricted Stock Units shall be paid in whole Shares as soon as
practicable after vesting, but in each such case within sixty (60) days following the vesting date. In no event will Participant be permitted, directly or indirectly, to specify the taxable year of payment of any Restricted Stock Units payable
under this Award Agreement. 
 (b)    Acceleration. 

(i)    Discretionary Acceleration. The Administrator, in its discretion, may accelerate the vesting of the balance,
or some lesser portion of the balance, of the unvested Restricted Stock Units at any time, subject to the terms of the Plan. If so accelerated, such Restricted Stock Units will be considered as having vested as of the date specified by the
Administrator. If Participant is a U.S. taxpayer, the payment of Shares vesting pursuant to this Section 6(b) shall in all cases be paid at a time or in a manner that is exempt from, or complies with, Section 409A. The prior sentence may
be superseded in a future agreement or amendment to this Award Agreement only by direct and specific reference to such sentence. 

(ii)    Notwithstanding anything in the Plan or this Award Agreement or any other agreement (whether entered into before,
on or after the Date of Grant), if the vesting of the balance, or some lesser portion of the balance, of the Restricted Stock Units is accelerated in connection with Participant’s termination as a Service Provider (provided that such
termination is a “separation from service” within the meaning of Section 409A, as determined by the Company), other than due to Participant’s death, and if (x) Participant is a U.S. taxpayer and a “specified
employee” within the meaning of Section 409A at the time of such termination as a Service Provider and (y) the payment of such accelerated Restricted Stock Units will result in the imposition of additional tax under Section 409A
if paid to Participant on or within the six (6) month period following Participant’s termination as a Service Provider, then the payment of such accelerated Restricted Stock Units will not be made until the date six (6) months and one
(1) day following the date of Participant’s termination as a Service Provider, unless Participant dies following his or her termination as a Service Provider, in which case, the Restricted Stock Units will be paid in Shares to
Participant’s estate as soon as practicable following his or her death. 
 (c)    Section 409A. It is the
intent of this Award Agreement that it and all payments and benefits to U.S. taxpayers hereunder be exempt from, or comply with, the requirements of Section 409A so that none of the Restricted Stock Units provided under this Award Agreement or
Shares issuable thereunder will be subject to the additional tax imposed under Section 409A, and any ambiguities herein will be interpreted to be so exempt or so comply. Each payment payable under this Award Agreement is intended to constitute
a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2). However, in no event will the Company reimburse Participant, or be otherwise responsible for, any taxes or costs that may be
imposed on Participant as a result of Section 409A. For purposes of this Award Agreement, “Section 409A” means Section 409A of the Code, and any final Treasury Regulations and Internal Revenue Service guidance thereunder, as
each may be amended from time to time. 

  
 3 

 7.    Forfeiture Upon Termination as a Service Provider.
Notwithstanding any contrary provision of this Award Agreement, if Participant ceases to be a Service Provider for any or no reason, the then-unvested Restricted Stock Units awarded by this Award Agreement will thereupon be forfeited at no cost to
the Company and Participant will have no further rights thereunder. 
 8.    Tax Consequences. Participant has
reviewed with his or her own tax advisors the U.S. federal, state, local and non-U.S. tax consequences of this investment and the transactions contemplated by this Award Agreement. With respect to such
matters, Participant relies solely on such advisors and not on any statements or representations of the Company or any of its agents, written or oral. Participant understands that Participant (and not the Company) shall be responsible for
Participant’s own tax liability that may arise as a result of this investment or the transactions contemplated by this Award Agreement. 

9.    Death of Participant. Any distribution or delivery to be made to Participant under this Award Agreement will,
if Participant is then deceased, be made to Participant’s designated beneficiary, or if no beneficiary survives Participant, the administrator or executor of Participant’s estate. Any such transferee must furnish the Company with
(a) written notice of his or her status as transferee, and (b) evidence satisfactory to the Company to establish the validity of the transfer and compliance with any laws or regulations pertaining to said transfer. 

10.    Tax Obligations 

(a)    Responsibility for Taxes. Participant acknowledges that, regardless of any action taken by the Company or, if
different, Participant’s employer (the “Employer”), the ultimate liability for any tax and/or social insurance liability obligations and requirements in connection with the Restricted Stock Units, including, without limitation,
(i) all federal, state, and local taxes (including the Participant’s Federal Insurance Contributions Act (FICA) obligation) that are required to be withheld by the Company or the Employer or other payment of
tax-related items related to Participant’s participation in the Plan and legally applicable to Participant, (ii) the Participant’s and, to the extent required by the Company (or Employer), the
Company’s (or Employer’s) fringe benefit tax liability, if any, associated with the grant, vesting, or settlement of the Restricted Stock Units or sale of Shares, and (iii) any other Company (or Employer) taxes the responsibility for
which the Participant has, or has agreed to bear, with respect to the Restricted Stock Units (or settlement thereof or issuance of Shares thereunder) (collectively, the “Tax Obligations”), is and remains Participant’s responsibility
and may exceed the amount actually withheld by the Company or the Employer. Participant further acknowledges that the Company and/or the Employer (i) make no representations or undertakings regarding the treatment of any Tax Obligations in
connection with any aspect of the Restricted Stock Units, including, but not limited to, the grant, vesting or settlement of the Restricted Stock Units, the subsequent sale of Shares acquired pursuant to such settlement and the receipt of any
dividends or other distributions, and (ii) do not commit to and are under no obligation to structure the terms of the grant or any aspect of the Restricted Stock Units to reduce or eliminate Participant’s liability for Tax Obligations or
achieve any particular tax result. Further, if Participant is subject to Tax Obligations in more than one jurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, as applicable, Participant

  
 4 

 
acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax Obligations in more than one jurisdiction. If Participant
fails to make satisfactory arrangements for the payment of any required Tax Obligations hereunder at the time of the applicable taxable event, Participant acknowledges and agrees that the Company may refuse to issue or deliver the Shares. 

(b)    Tax Withholding and Default Method of Tax Withholding. When Shares are issued as payment for vested
Restricted Stock Units, Participant generally will recognize immediate U.S. taxable income if Participant is a U.S. taxpayer. If Participant is a non-U.S. taxpayer, Participant will be subject to applicable
taxes in his or her jurisdiction. The minimum amount of Tax Obligations which the Company determines must be withheld with respect to this Award (“Tax Withholding Obligation”) will be satisfied by Shares being sold on Participant’s
behalf at the prevailing market price pursuant to such procedures as the Company may specify from time to time, including through a broker-assisted arrangement (it being understood that the Shares to be sold must have vested pursuant to the terms of
this Award Agreement and the Plan). The proceeds from the sale will be used to satisfy Participant’s Tax Withholding Obligation arising with respect to this Award. In addition to Shares sold to satisfy the Tax Withholding Obligation, additional
Shares will be sold to satisfy any associated broker or other fees. Only whole Shares will be sold to satisfy any Tax Withholding Obligation and any associated broker or other fees. Any proceeds from the sale of Shares in excess of the Tax
Withholding Obligation and any associated broker or other fees will be paid to Participant in accordance with procedures the Company may specify from time to time. By accepting this Award, Participant expressly consents to the sale of Shares to
cover the Tax Withholding Obligation (and any associated broker or other fees) and agrees and acknowledges that Participant may not satisfy them by any means other than such sale of Shares, unless required to do so by the Administrator or pursuant
to the Administrator’s express written consent. 
 (c)    Administrator Discretion. If the Administrator
determines that Participant cannot satisfy Participant’s Tax Withholding Obligation through the default procedure described in Section 8(b) or the Administrator otherwise determines it is in the best interests of the Company for
Participant to satisfy Participant’s Tax Withholding Obligation by a method other than through the default procedure described in Section 8(b), it may permit or require Participant to satisfy Participant’s Tax Withholding Obligation,
in whole or in part (without limitation), if permissible by applicable local law, by (i) paying cash, (ii) electing to have the Company withhold otherwise deliverable Shares having a fair market value equal to the minimum amount
statutorily required to be withheld (or such greater amount as Participant may elect if permitted by the Administrator, if such greater amount would not result in adverse financial accounting consequences), (iii) withholding the amount of such Tax
Withholding Obligation from Participant’s wages or other cash compensation paid to Participant by the Company and/or the Employer, (iv) delivering to the Company Shares that Participant owns and that have vested with a fair market value
equal to the amount required to be withheld (or such greater amount as Participant may elect if permitted by the Administrator, if such greater amount would not result in adverse financial accounting consequences), or (v) such other means as
the Administrator deems appropriate. To the extent determined appropriate by the Company in its discretion, it will have the right (but not the obligation) to satisfy any Tax Obligations by reducing the number of Shares otherwise deliverable to
Participant. 

  
 5 

 (d)    Company’s Obligation to Deliver Shares. For
clarification purposes, in no event will the Company issue Participant any Shares unless and until arrangements satisfactory to the Administrator have been made for the payment of Participant’s Tax Withholding Obligation. If Participant fails
to make satisfactory arrangements for the payment of such Tax Withholding Obligations hereunder at the time any applicable Restricted Stock Units otherwise are scheduled to vest pursuant to Sections 4 or 6 or Participant’s Tax Withholding
Obligations otherwise become due, Participant will permanently forfeit such Restricted Stock Units to which Participant’s Tax Withholding Obligation relates and any right to receive Shares thereunder and such Restricted Stock Units will be
returned to the Company at no cost to the Company. Participant acknowledges and agrees that the Company may refuse to issue or deliver the Shares if such Tax Obligations are not delivered at the time they are due. 

11.    Rights as Stockholder. Neither Participant nor any person claiming under or through Participant will have
any of the rights or privileges of a stockholder of the Company in respect of any Shares deliverable hereunder unless and until certificates representing such Shares (which may be in book entry form) will have been issued, recorded on the records of
the Company or its transfer agents or registrars, and delivered to Participant (including through electronic delivery to a brokerage account). After such issuance, recordation and delivery, Participant will have all the rights of a stockholder of
the Company with respect to voting such Shares and receipt of dividends and distributions on such Shares. 

12.    No Guarantee of Continued Service. PARTICIPANT ACKNOWLEDGES AND AGREES THAT THE VESTING OF THE RESTRICTED
STOCK UNITS PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER AT THE WILL OF THE COMPANY (OR THE EMPLOYER) AND NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THIS RESTRICTED STOCK UNIT AWARD OR ACQUIRING
SHARES HEREUNDER. PARTICIPANT FURTHER ACKNOWLEDGES AND AGREES THAT THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE
PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND SHALL NOT INTERFERE IN ANY WAY WITH PARTICIPANT’S RIGHT OR THE RIGHT OF THE COMPANY (OR THE EMPLOYER) TO TERMINATE PARTICIPANT’S RELATIONSHIP AS A SERVICE PROVIDER AT ANY
TIME, WITH OR WITHOUT CAUSE. 
 13.    Grant is Not Transferable. Except to the limited extent provided in
Section 9, this grant and the rights and privileges conferred hereby will not be transferred, assigned, pledged or hypothecated in any way (whether by operation of law or otherwise) and will not be subject to sale under execution, attachment or
similar process. Upon any attempt to transfer, assign, pledge, hypothecate or otherwise dispose of this grant, or any right or privilege conferred hereby, or upon any attempted sale under any execution, attachment or similar process, this grant and
the rights and privileges conferred hereby immediately will become null and void. 

14.    Company’s Right of First Refusal. Subject to Section 13, before any Shares held by
Participant or any transferee (either being sometimes referred to herein as the “Holder”) may be sold or otherwise transferred (including transfer by gift or operation of law), the Company or its assignee(s) shall have a right of first
refusal to purchase the Shares on the terms and conditions set forth in this Section 14 (the “Right of First Refusal”). 

  
 6 

 (a)    Notice of Proposed Transfer. The Holder of the Shares
shall deliver to the Company a written notice (the “Notice”) stating: (i) the Holder’s bona fide intention to sell or otherwise transfer such Shares; (ii) the name of each proposed purchaser or other transferee
(“Proposed Transferee”); (iii) the number of Shares to be transferred to each Proposed Transferee; and (iv) the bona fide cash price or other consideration for which the Holder proposes to transfer the Shares (the “Offered
Price”), and the Holder shall offer the Shares at the Offered Price to the Company or its assignee(s). 

(b)    Exercise of Right of First Refusal. At any time within thirty (30) days after receipt of the Notice,
the Company and/or its assignee(s) may, by giving written notice to the Holder, elect to purchase all, but not less than all, of the Shares proposed to be transferred to any one or more of the Proposed Transferees, at the purchase price determined
in accordance with subsection (c) below. 
 (c)    Purchase Price. The purchase price (“Right of First
Refusal Price”) for the Shares purchased by the Company or its assignee(s) under this Section 14 shall be the Offered Price. If the Offered Price includes consideration other than cash, the cash equivalent value of the non-cash consideration shall be determined by the Board in good faith. 

(d)    Payment. Payment of the Right of First Refusal Price shall be made, at the option of the Company or its
assignee(s), in cash (by check), by cancellation of all or a portion of any outstanding indebtedness of the Holder to the Company (or, in the case of repurchase by an assignee, to the assignee), or by any combination thereof within thirty (30)
days after receipt of the Notice or in the manner and at the times set forth in the Notice. 
 (e)    Holder’s
Right to Transfer. If all of the Shares proposed in the Notice to be transferred to a given Proposed Transferee are not purchased by the Company and/or its assignee(s) as provided in this Section 14, then the Holder may sell or otherwise
transfer such Shares to that Proposed Transferee at the Offered Price or at a higher price, provided that such sale or other transfer is consummated within one hundred and twenty (120) days after the date of the Notice, that any such sale or
other transfer is effected in accordance with any applicable securities laws and that the Proposed Transferee agrees in writing that the provisions of this Section 14 shall continue to apply to the Shares in the hands of such Proposed
Transferee. If the Shares described in the Notice are not transferred to the Proposed Transferee within such period, a new Notice shall be given to the Company, and the Company and/or its assignees shall again be offered the Right of First Refusal
before any Shares held by the Holder may be sold or otherwise transferred. 
 (f)    Exception for Certain Family
Transfers. Anything to the contrary contained in this Section 14 notwithstanding, the transfer of any or all of the Shares during the Participant’s lifetime or on the Participant’s death by will or intestacy to the
Participant’s immediate family or a trust for the benefit of the Participant’s immediate family shall be exempt from the provisions of this Section 14. “Immediate Family” as used herein shall mean spouse, lineal descendant
or antecedent, father, mother, brother or sister. In such case, the transferee or other recipient shall receive and hold the Shares so transferred subject to the provisions of this Award Agreement, including this Section 14, and there shall be
no further transfer of such Shares except in accordance with the terms of this Section 14. 

  
 7 

 (g)    Termination of Right of First Refusal. The Right of First
Refusal shall terminate as to any Shares upon the earlier of (i) the first sale of Common Stock of the Company to the general public, or (ii) a Change in Control in which the successor corporation has equity securities that are publicly
traded. 
 15.    Restrictive Legends and Stop-Transfer Orders. 

(a)    Legends. Participant understands and agrees that the Company shall cause the legends set forth below, or
legends substantially equivalent thereto, to be placed upon any certificate(s) evidencing ownership of the Shares together with any other legends that may be required by the Company or by state or federal securities laws: 

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”) AND MAY NOT BE OFFERED, SOLD
OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER THE ACT OR, IN THE OPINION OF COUNSEL SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS IN COMPLIANCE
THEREWITH. 
 THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER AND A RIGHT OF FIRST REFUSAL IN
FAVOR OF THE ISSUER OR ITS ASSIGNEE(S) AS SET FORTH IN THE RESTRICTED STOCK UNIT AWARD AGREEMENT BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. SUCH TRANSFER
RESTRICTIONS AND RIGHT OF FIRST REFUSAL IN FAVOR OF THE ISSUER OR ITS ASSIGNEE(S) ARE BINDING ON TRANSFEREES OF THESE SHARES. 
 THE SHARES
REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFER FOR A PERIOD OF TIME FOLLOWING THE EFFECTIVE DATE OF THE UNDERWRITTEN PUBLIC OFFERING OF THE COMPANY’S SECURITIES SET FORTH IN AN AGREEMENT BETWEEN THE ISSUER AND THE
ORIGINAL HOLDER OF THESE SHARES AND MAY NOT BE SOLD OR OTHERWISE DISPOSED OF BY THE HOLDER PRIOR TO THE EXPIRATION OF SUCH PERIOD WITHOUT THE CONSENT OF THE COMPANY OR THE MANAGING UNDERWRITER. 

(b)    Stop-Transfer Notices. Participant agrees that, in order to ensure compliance with the restrictions referred
to herein, the Company may issue appropriate “stop transfer” instructions to its transfer agent, if any, and that, if the Company transfers its own securities, it may make appropriate notations to the same effect in its own records.

  
 8 

 (c)    Refusal to Transfer. The Company shall not be required
(i) to transfer on its books any Shares that have been sold or otherwise transferred in violation of any of the provisions of this Award Agreement or (ii) to treat as owner of such Shares or to accord the right to vote or pay dividends to
any purchaser or other transferee to whom such Shares shall have been so transferred. 
 16.    Restrictions on Sale
of Securities. Any sale of the Shares issued under this Award Agreement will be subject to any market blackout-period that may be imposed by the Company and must comply with the Company’s insider trading policies and other Applicable Laws.

 17.    Nature of Grant. In accepting the grant, Participant acknowledges, understands and agrees that: 

(a)    the grant of the Restricted Stock Units is voluntary and occasional and does not create any contractual or other
right to receive future grants of Restricted Stock Units, or benefits in lieu of Restricted Stock Units, even if Restricted Stock Units have been granted in the past; 

(b)    all decisions with respect to future Restricted Stock Units or other grants, if any, will be at the sole discretion
of the Company; 
 (c)    Participant is voluntarily participating in the Plan; 

(d)    the Restricted Stock Units and the Shares subject to the Restricted Stock Units are not intended to replace any
pension rights or compensation; 
 (e)    the Restricted Stock Units and the Shares subject to the Restricted Stock
Units, and the income and value of same, are not part of normal or expected compensation for purposes of calculating any severance, resignation, termination, redundancy, dismissal,
end-of-service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments; 

(f)    the future value of the underlying Shares is unknown, indeterminable and cannot be predicted; 

(g)    for purposes of the Restricted Stock Units, Participant’s status as a Service Provider will be considered
terminated as of the date Participant is no longer actively providing services to the Company or any Parent or Subsidiary (regardless of the reason for such termination and whether or not later to be found invalid or in breach of employment laws in
the jurisdiction where Participant is a Service Provider or the terms of Participant’s employment or service agreement, if any), and unless otherwise expressly provided in this Award Agreement (including by reference in the Notice of Grant to
other arrangements or contracts) or determined by the Administrator, Participant’s right to vest in the Restricted Stock Units under the Plan, if any, will terminate as of such date and will not be extended by any notice period (e.g.,
Participant’s period of service would not include any contractual notice period or any period of “garden leave” or similar period mandated under employment laws in the jurisdiction where Participant is a Service Provider or the terms
of Participant’s employment or service agreement, if any, unless Participant is providing bona fide services during such time); the Administrator shall have the exclusive discretion to determine when Participant is no longer actively providing
services for purposes of the Restricted Stock Units grant (including whether Participant may still be considered to be providing services while on a leave of absence); 

  
 9 

 (h)    unless otherwise provided in the Plan or by the Company in its
discretion, the Restricted Stock Units and the benefits evidenced by this Award Agreement do not create any entitlement to have the Restricted Stock Units or any such benefits transferred to, or assumed by, another company or exchanged, cashed out
or substituted for, in connection with any corporate transaction affecting the Shares; and 
 (i)    the following
provisions apply only if Participant is providing services outside the United States: 
 (i)    the Restricted Stock
Units and the Shares subject to the Restricted Stock Units are not part of normal or expected compensation or salary for any purpose; 

(ii)    Participant acknowledges and agrees that none of the Company, the Employer or any Parent or Subsidiary
shall be liable for any foreign exchange rate fluctuation between Participant’s local currency and the United States Dollar that may affect the value of the Restricted Stock Units or of any amounts due to Participant pursuant to the
settlement of the Restricted Stock Units or the subsequent sale of any Shares acquired upon settlement; and 

(iii)    no claim or entitlement to compensation or damages shall arise from forfeiture of the Restricted Stock Units
resulting from the termination of Participant’s status as a Service Provider (for any reason whatsoever whether or not later found to be invalid or in breach of employment laws in the jurisdiction where Participant is a Service Provider or the
terms of Participant’s employment or service agreement, if any), and in consideration of the grant of the Restricted Stock Units to which Participant is otherwise not entitled, Participant irrevocably agrees never to institute any claim
against the Company, any Parent or Subsidiary or the Employer, waives his or her ability, if any, to bring any such claim, and releases the Company, any Parent or Subsidiary and the Employer from any such claim; if, notwithstanding the foregoing,
any such claim is allowed by a court of competent jurisdiction, then, by participating in the Plan, Participant shall be deemed irrevocably to have agreed not to pursue such claim and agrees to execute any and all documents necessary to request
dismissal or withdrawal of such claim. 
 18.    No Advice Regarding Grant. The Company is not providing any tax,
legal or financial advice, nor is the Company making any recommendations regarding Participant’s participation in the Plan, or Participant’s acquisition or sale of the underlying Shares. Participant is hereby advised to consult with his or
her own personal tax, legal and financial advisors regarding his or her participation in the Plan before taking any action related to the Plan. 

19.    Data Privacy. Participant hereby explicitly and unambiguously consents to the collection, use and
transfer, in electronic or other form, of Participant’s personal data as described in this Award Agreement and any other Restricted Stock Unit grant materials by and among, as applicable, the Employer, the Company and any Parent or Subsidiary
for the exclusive purpose of implementing, administering and managing Participant’s participation in the Plan. 

Participant understands that the Company and the Employer may hold certain personal information about Participant, including, but not
limited to, Participant’s name, home address 

  
 10 

 
and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, any Shares or directorships held in the Company, details of all
Restricted Stock Units or any other entitlement to Shares awarded, canceled, exercised, vested, unvested or outstanding in Participant’s favor (“Data”), for the exclusive purpose of implementing, administering and managing the Plan.

 Participant understands that Data will be transferred to a stock plan service provider as may be selected by the Company in
the future, which is assisting the Company with the implementation, administration and management of the Plan. Participant understands that the recipients of the Data may be located in the United States or elsewhere, and that the recipients’
country of operation (e.g., the United States) may have different data privacy laws and protections than Participant’s country. Participant understands that if he or she resides outside the United States, he or she may request a list with the
names and addresses of any potential recipients of the Data by contacting his or her local human resources representative. Participant authorizes the Company, any stock plan service provider selected by the Company and any other possible recipients
which may assist the Company (presently or in the future) with implementing, administering and managing the Plan to receive, possess, use, retain and transfer the Data, in electronic or other form, for the sole purpose of implementing, administering
and managing his or her participation in the Plan. Participant understands that Data will be held only as long as is necessary to implement, administer and manage Participant’s participation in the Plan. Participant understands if he or she
resides outside the United States, he or she may, at any time, view Data, request additional information about the storage and processing of Data, require any necessary amendments to Data or refuse or withdraw the consents herein, in any case
without cost, by contacting in writing his or her local human resources representative. Further, Participant understands that he or she is providing the consents herein on a purely voluntary basis. If Participant does not consent, or if Participant
later seeks to revoke his or her consent, his or her status as a Service Provider and career with the Employer will not be adversely affected; the only adverse consequence of refusing or withdrawing Participant’s consent is that the Company
would not be able to grant Participant Restricted Stock Units or other equity awards or administer or maintain such awards. Therefore, Participant understands that refusing or withdrawing his or her consent may affect Participant’s ability to
participate in the Plan. For more information on the consequences of Participant’s refusal to consent or withdrawal of consent, Participant understands that he or she may contact his or her local human resources representative. 

20.    Address for Notices. Any notice to be given to the Company under the terms of this Award Agreement will be
addressed to the Company at Arcellx, Inc. 25 West Watkins Mill Road, Suite A, Gaithersburg, MD 20878, or at such other address as the Company may hereafter designate in writing. 

21.    Electronic Delivery. The Company may, in its sole discretion, decide to deliver any documents related to the
Restricted Stock Units awarded under the Plan or future Restricted Stock Units that may be awarded under the Plan by electronic means or request Participant’s consent to participate in the Plan by electronic means. Participant hereby consents
to receive such documents by electronic delivery and agrees to participate in the Plan through any on-line or electronic system established and maintained by the Company or another third party designated by
the Company. 

  
 11 

 22.    No Waiver. Either party’s failure to enforce any
provision or provisions of this Award Agreement shall not in any way be construed as a waiver of any such provision or provisions, nor prevent that party from thereafter enforcing each and every other provision of this Award Agreement. The rights
granted both parties herein are cumulative and shall not constitute a waiver of either party’s right to assert all other legal remedies available to it under the circumstances. 

23.    Successors and Assigns. The Company may assign any of its rights under this Award Agreement to single or
multiple assignees, and this Award Agreement shall inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth, this Award Agreement shall be binding upon Participant and his or her
heirs, executors, administrators, successors and assigns. The rights and obligations of Participant under this Award Agreement may only be assigned with the prior written consent of the Company. 

24.    Additional Conditions to Issuance of Stock. If at any time the Company will determine, in its discretion,
that the listing, registration, qualification or rule compliance of the Shares upon any securities exchange or under any state, federal or foreign law, the tax code and related regulations or under the rulings or regulations of the United States
Securities and Exchange Commission or any other governmental regulatory body or the clearance, consent or approval of the United States Securities and Exchange Commission or any other governmental regulatory authority is necessary or desirable as a
condition to the issuance of Shares to Participant (or his or her estate) hereunder, such issuance will not occur unless and until such listing, registration, qualification, rule compliance, clearance, consent or approval will have been completed,
effected or obtained free of any conditions not acceptable to the Company. Subject to the terms of the Award Agreement and the Plan, the Company shall not be required to issue any certificate or certificates for Shares hereunder prior to the lapse
of such reasonable period of time following the date of vesting of the Restricted Stock Units as the Administrator may establish from time to time for reasons of administrative convenience. 

25.    Language. If Participant has received this Award Agreement or any other document related to the Plan
translated into a language other than English and if the meaning of the translated version is different than the English version, the English version will control. 

26.    Interpretation. The Administrator will have the power to interpret the Plan and this Award Agreement and to
adopt such rules for the administration, interpretation and application of the Plan as are consistent therewith and to interpret or revoke any such rules (including, but not limited to, the determination of whether or not any Restricted Stock Units
have vested). All actions taken and all interpretations and determinations made by the Administrator in good faith will be final and binding upon Participant, the Company and all other interested persons. Neither the Administrator nor any person
acting on behalf of the Administrator will be personally liable for any action, determination or interpretation made in good faith with respect to the Plan or this Award Agreement. 

27.    Modifications to the Award Agreement. This Award Agreement constitutes the entire understanding of the
parties on the subjects covered. Participant expressly warrants that he or she is not accepting this Award Agreement in reliance on any promises, representations, or inducements other than those contained herein. Modifications to this Award
Agreement or the Plan can be made only in an express written contract executed by a duly authorized officer of the Company. 

  
 12 

 
Notwithstanding anything to the contrary in the Plan or this Award Agreement, the Company reserves the right to revise this Award Agreement as it deems necessary or advisable, in its sole
discretion and without the consent of Participant, to comply with Section 409A or to otherwise avoid imposition of any additional tax or income recognition under Section 409A in connection to this Award of Restricted Stock Units. 

28.    Governing Law; Severability. This Award Agreement and the Restricted Stock Units are governed by the
internal substantive laws, but not the choice of law rules, of Delaware. In the event that any provision hereof becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, this Award Agreement shall continue in
full force and effect. 
 29.    Entire Agreement. The Plan is incorporated herein by reference. The Plan and
this Award Agreement (including the exhibits and addendums referenced herein) constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the
Company and Participant with respect to the subject matter hereof, and may not be modified adversely to the Participant’s interest except by means of a writing signed by the Company and Participant. 

30.    Country Addendum. Notwithstanding any provisions in this Award Agreement, the Restricted Stock Unit grant
shall be subject to any special terms and conditions set forth in any appendix to this Award Agreement for any country whose laws are applicable to Participant and this Award of Restricted Stock Units (as determined by the Administrator in its sole
discretion) (the “Country Addendum”). Moreover, if Participant relocates to one of the countries included in the Country Addendum, the special terms and conditions for such country will apply to Participant, to the extent the Company
determines that the application of such terms and conditions is necessary or advisable for legal or administrative reasons. The Country Addendum, to the extent applicable, constitutes part of this Award Agreement. 

Participant acknowledges receipt of a copy of the Plan and represents that he or she is familiar with the terms and provisions thereof, and
hereby accepts this Award Agreement subject to all of the terms and provisions thereof. Participant has reviewed the Plan and this Award Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this
Award Agreement and fully understands all provisions of this Award Agreement. Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions arising under the Plan or
this Award Agreement. Participant further agrees to notify the Company upon any change in the residence address indicated below. 
  

					
	PARTICIPANT	 		 	ARCELLX, INC.
			
	  
	 		 	  

	Signature	 		 	By
			
	 «Name»
	 		 	  

	Print Name	 		 	Print Name
			
		 		 	  

		 		 	Title
			
	Address:	 		 	
			
	 «Address»
	 		 	
		 		 	
			
	 «CityStateZip»
	 		 	

  
 13 

 EXHIBIT A 

INVESTMENT REPRESENTATION STATEMENT 
  

					
	PARTICIPANT	  	:	    	«NAME»
			
	COMPANY	  	:	    	ARCELLX, INC.
			
	SECURITY	  	:	    	COMMON STOCK
			
	AMOUNT	  	:	    	                                    
    
			
	DATE	  	:	    	                                    
    

 In connection with the receipt of the above-listed Securities, the undersigned Participant represents to the
Company the following: 
 (a)    Participant is aware of the Company’s business affairs and financial condition and
has acquired sufficient information about the Company to reach an informed and knowledgeable decision to acquire the Securities. Participant is acquiring these Securities for investment for Participant’s own account only and not with a view to,
or for resale in connection with, any “distribution” thereof within the meaning of the Securities Act of 1933, as amended (the “Securities Act”). 

(b)    Participant acknowledges and understands that the Securities constitute “restricted securities” under the
Securities Act and have not been registered under the Securities Act in reliance upon a specific exemption therefrom, which exemption depends upon, among other things, the bona fide nature of Participant’s investment intent as expressed herein.
In this connection, Participant understands that, in the view of the Securities and Exchange Commission, the statutory basis for such exemption may be unavailable if Participant’s representation was predicated solely upon a present intention to
hold these Securities for the minimum capital gains period specified under tax statutes, for a deferred sale, for or until an increase or decrease in the market price of the Securities, or for a period of one (1) year or any other fixed period
in the future. Participant further understands that the Securities must be held indefinitely unless they are subsequently registered under the Securities Act or an exemption from such registration is available. Participant further acknowledges and
understands that the Company is under no obligation to register the Securities. Participant understands that the certificate evidencing the Securities shall be imprinted with any legend required under applicable state securities laws. 

(c)    Participant is familiar with the provisions of Rule 701 and Rule 144, each promulgated under the
Securities Act, which, in substance, permit limited public resale of “restricted securities” acquired, directly or indirectly from the issuer thereof, in a non-public offering subject to the
satisfaction of certain conditions. Rule 701 provides that if the issuer qualifies under Rule 701 at the time of the grant of the Restricted Stock Unit Award to Participant, the receipt of the Securities shall be exempt from registration
under the Securities Act. In the event the Company becomes subject to the reporting requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, ninety (90) days thereafter (or such longer period as any market stand-off agreement may require) 

 
the Securities exempt under Rule 701 may be resold, subject to the satisfaction of the applicable conditions specified by Rule 144, including in the case of affiliates (1) the
availability of certain public information about the Company, (2) the amount of Securities being sold during any three (3) month period not exceeding specified limitations, (3) the resale being made in an unsolicited
“broker’s transaction”, transactions directly with a “market maker” or “riskless principal transactions” (as those terms are defined under the Securities Exchange Act of 1934) and (4) the timely filing of a
Form 144, if applicable. 
 In the event that the Company does not qualify under Rule 701 at the time of grant of the Restricted
Stock Unit Award, then the Securities may be resold in certain limited circumstances subject to the provisions of Rule 144, which may require (1) the availability of current public information about the Company; (2) the resale to
occur more than a specified period after the purchase and full payment (within the meaning of Rule 144) for the Securities; and (3) in the case of the sale of Securities by an affiliate, the satisfaction of the conditions set forth in
sections (2), (3) and (4) of the paragraph immediately above. 
 (d)    Participant further understands that
in the event all of the applicable requirements of Rule 701 or 144 are not satisfied, registration under the Securities Act, compliance with Regulation A, or some other registration exemption shall be required; and that, notwithstanding the
fact that Rules 144 and 701 are not exclusive, the Staff of the Securities and Exchange Commission has expressed its opinion that persons proposing to sell private placement securities other than in a registered offering and otherwise than
pursuant to Rules 144 or 701 shall have a substantial burden of proof in establishing that an exemption from registration is available for such offers or sales, and that such persons and their respective brokers who participate in such
transactions do so at their own risk. Participant understands that no assurances can be given that any such other registration exemption shall be available in such event. 

 

	
	PARTICIPANT
	
	
                     

	Signature
	
	 «Name»

	Print Name
	
	      

	Date

  
 2EX-10.7

 Exhibit 10.7 

LEASE 
 BETWEEN 

ARCELLX, INC., AS TENANT 

AND 
 TFG WEST WATKINS
PROPERTY, LLC, AS LANDLORD 
 25, 35 & 45 WEST WATKINS MILL ROAD 

GAITHERSBURG, MARYLAND 
 The submission
of an unsigned copy of this document to Tenant for Tenant’s consideration does not constitute an offer to lease the Premises or an option to or for the Premises. This document shall become effective and binding only upon the execution and
delivery of this Lease by both Landlord and Tenant. 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	PAGE	 
	 ARTICLE 1 BASIC DATA; DEFINITIONS
	  	 	1	 
	 1.1
	 	Basic Data	  	 	1	 
	 1.2
	 	Additional Definitions	  	 	3	 
	 1.3
	 	Enumeration of Exhibits	  	 	6	 
		
	 ARTICLE 2 PREMISES AND APPURTENANT RIGHTS
	  	 	7	 
	 2.1
	 	Lease of Premises	  	 	7	 
	 2.2
	 	Appurtenant Rights and Reservations	  	 	7	 
		
	 ARTICLE 3 BASIC RENT
	  	 	9	 
	 3.1
	 	Payment	  	 	9	 
		
	 ARTICLE 4 CONDITION OF PREMISES
	  	 	10	 
	 4.1
	 	Condition of Premises; Landlord’s Work	  	 	10	 
		
	 ARTICLE 5 USE OF PREMISES
	  	 	10	 
	 5.1
	 	Permitted Use	  	 	10	 
	 5.2
	 	Installations and Alterations by Tenant.	  	 	10	 
	 5.3
	 	Extra Hazardous Use	  	 	12	 
	 5.4
	 	Hazardous Materials	  	 	13	 
	 5.5
	 	Odors and Exhaust	  	 	15	 
		
	 ARTICLE 6 ASSIGNMENT AND SUBLETTING
	  	 	16	 
	 6.1
	 	Prohibition	  	 	16	 
	 6.2
	 	Landlord’s Consent	  	 	17	 
	 6.3
	 	Acceptance of Rent	  	 	18	 
	 6.4
	 	Excess Payments	  	 	18	 
	 6.5
	 	Intentionally Deleted	  	 	19	 
	 6.6
	 	Further Requirements	  	 	19	 
		
	 ARTICLE 7 RESPONSIBILITY FOR REPAIRS AND CONDITION OF PREMISES; SERVICES TO
BE FURNISHED BY LANDLORD
	  	 	19	 
	 7.1
	 	Landlord Repairs	  	 	19	 
	 7.2
	 	Tenant Repairs; Compliance with Laws	  	 	20	 
	 7.3
	 	Floor Load - Heavy Machinery	  	 	21	 
	 7.4
	 	Utility Services	  	 	21	 
	 7.5
	 	Other Services	  	 	22	 
	 7.6
	 	Interruption of Service	  	 	22	 
		
	 ARTICLE 8 REAL ESTATE TAXES
	  	 	23	 
	 8.1
	 	Payments on Account of Real Estate Taxes	  	 	23	 
	 8.2
	 	Abatement	  	 	24	 

  
 (i) 

							
	 ARTICLE 9 OPERATING EXPENSES
	  	 	25	 
	 9.1
	 	 Definitions
	  	 	25	 
	 9.2
	 	 Tenant’s Payment of Operating Expenses
	  	 	25	 
		
	 ARTICLE 10 INDEMNITY AND PUBLIC LIABILITY INSURANCE
	  	 	26	 
	 10.1
	 	 Tenant’s Indemnity
	  	 	26	 
	 10.2
	 	 Tenant Insurance
	  	 	27	 
	 10.3
	 	 Tenant’s Risk
	  	 	28	 
	 10.4
	 	 Landlord’s Insurance
	  	 	28	 
	 10.5
	 	 Waiver of Subrogation
	  	 	28	 
		
	 ARTICLE 11 FIRE, EMINENT DOMAIN, ETC
	  	 	29	 
	 11.1
	 	 Landlord’s Right of Termination
	  	 	29	 
	 11.2
	 	 Restoration; Tenant’s Right of Termination
	  	 	29	 
	 11.3
	 	 Abatement of Rent
	  	 	30	 
	 11.4
	 	 Eminent Domain
	  	 	30	 
		
	 ARTICLE 12 HOLDING OVER; SURRENDER
	  	 	31	 
	 12.1
	 	 Holding Over
	  	 	31	 
	 12.2
	 	 Surrender of Premises
	  	 	32	 
		
	 ARTICLE 13 RIGHTS OF MORTGAGEES; TRANSFER OF TITLE
	  	 	33	 
	 13.1
	 	 Rights of Mortgagees or Ground Lessor
	  	 	33	 
	 13.2
	 	 Assignment of Rents and Transfer of Title
	  	 	34	 
	 13.3
	 	 Notice to Mortgagee
	  	 	34	 
		
	 ARTICLE 14 DEFAULT; REMEDIES
	  	 	35	 
	 14.1
	 	 Tenant’s Default
	  	 	35	 
	 14.2
	 	 Landlord’s Remedies
	  	 	36	 
	 14.3
	 	 Additional Rent
	  	 	39	 
	 14.4
	 	 Remedying Defaults
	  	 	39	 
	 14.5
	 	 Remedies Cumulative
	  	 	39	 
	 14.6
	 	 Enforcement Costs
	  	 	39	 
	 14.7
	 	 Waiver
	  	 	39	 
	 14.8
	 	 Security Deposit
	  	 	40	 
	 14.9
	 	 Landlord’s Default
	  	 	44	 
	 14.10
	 	 Independent Covenants
	  	 	44	 
		
	 ARTICLE 15 MISCELLANEOUS PROVISIONS
	  	 	44	 
	 15.1
	 	 Landlord’s Rights of Access
	  	 	44	 
	 15.2
	 	 Covenant of Quiet Enjoyment
	  	 	45	 
	 15.3
	 	 Landlord’s Liability
	  	 	45	 
	 15.4
	 	 Estoppel Certificate
	  	 	46	 
	 15.5
	 	 Brokerage
	  	 	46	 
	 15.6
	 	 Rules and Regulations
	  	 	46	 
	 15.7
	 	 Financial Statements
	  	 	46	 
	 15.8
	 	 Intentionally Deleted
	  	 	47	 

  
 (ii) 

							
	 15.9
	 	Intentionally Deleted	  	 	47	 
	 15.10
	 	Invalidity of Particular Provisions; Saving Clause	  	 	47	 
	 15.11
	 	Provisions Binding, Etc	  	 	47	 
	 15.12
	 	Recording	  	 	47	 
	 15.13
	 	Notice	  	 	47	 
	 15.14
	 	Authority	  	 	48	 
	 15.15
	 	When Lease Becomes Binding; Entire Agreement; Modification	  	 	48	 
	 15.16
	 	Paragraph Headings and Interpretation of Sections	  	 	49	 
	 15.17
	 	Joint and Several Liability; Successors and Assigns	  	 	49	 
	 15.18
	 	Waiver of Jury Trial	  	 	49	 
	 15.19
	 	Reservation	  	 	49	 
	 15.20
	 	Prohibited Persons and Transactions	  	 	49	 
	 15.21
	 	Time Is of the Essence	  	 	50	 
	 15.22
	 	Multiple Counterparts; Entire Agreement	  	 	50	 
	 15.23
	 	Governing Law	  	 	50	 
		
	 ARTICLE 16 OPTION TO EXTEND TERM
	  	 	50	 
	 16.1
	 	Extended Term	  	 	50	 
	 16.2
	 	Determination of Fair Market Rental Value	  	 	50	 
	 16.3
	 	Method for Calculating Fair Market Rental Value	  	 	51	 
		
	 ARTICLE 17 RIGHT OF FIRST OFFER
	  	 	51	 
	 17.1
	 	Available Space	  	 	51	 
	 17.2
	 	Landlord’s Offer Notice; Acceptance by Tenant	  	 	52	 
	 17.3
	 	Conditions to Exercise of Right by Tenant	  	 	52	 
		
	 ARTICLE 18 TENANT’S TERMINATION OPTION
	  	 	53	 
	 18.1
	 	Termination Option	  	 	53	 
	 18.2
	 	Termination Fee	  	 	53	 
		
	 EXHIBIT C Work Letter
	  	 	C-1	 
		
	 EXHIBIT D Commencement Date Letter
	  	 	D-1	 
		
	 EXHIBIT E Operating Expenses
	  	 	E-1	 
		
	 EXHIBIT F Rules and Regulations of Building
	  	 	F-1	 
		
	 EXHIBIT G SNDA
	  	 	G-1	 

  
 (iii) 

 L E A S E 

THIS LEASE is dated as of October 5th, 2018 (the “Execution Date”) between the Landlord and the Tenant named below, and is of
space in the Building described below. 
 ARTICLE 1 

BASIC DATA; DEFINITIONS 

1.1    Basic Data. Each reference in this Lease to any of the following terms shall be
construed to incorporate the data for that term set forth in this Section: 
 Landlord: TFG West Watkins Property, LLC, a Delaware
limited liability company 
 Landlord’s Notice Address: 

TFG West Watkins Property, LLC 

c/o Tritower Financial Group, LLC 

60 State Street, 22nd Floor 

Boston, Massachusetts 02109 

Attention: Todd Twombly 

Tenant: Arcellx, Inc., a Delaware corporation 

Tenant’s Notice Address: 

Arcellx, Inc. 
 25 West Watkins
Mill Road 
 Gaithersburg, Maryland 20878 

Attention: CEO 

Guarantor: None 

Building: That certain building located at and numbered as 25 West Watkins Mill Road, Gaithersburg, Maryland. 

Buildings: The Building together with those certain buildings located at and numbered as 35 and 45 West Watkins Mill Road,
Gaithersburg, Maryland. 
 Property: The land located in Gaithersburg, Maryland, together with the Buildings and other improvements
thereon, as shown on Exhibit B attached hereto. 
 Rentable Area of the Building: Agreed to be 32,317 square feet. 

Rentable Area of the Buildings: Agreed to be 138,938 square feet. 

Premises: The portion of the first (1st) floor of the Building shown on the
location plan attached hereto as Exhibit A. 
 Premises Rentable Area: Agreed to be
13,571 square feet. 

  
 1 

 Commencement Date: The date by which Landlord has delivered possession of the
Premises to Tenant. 
 Rent Commencement Date: The date that occurs six (6) months after the Commencement Date (such six
(6) month period hereinafter referred to as the “Build-Out Period”). Notwithstanding the foregoing, if Tenant’s personnel shall occupy all or any part of the Premises for the conduct
of its business during the Build-Out Period, such date of occupancy shall, for all purposes of this Lease, be the Rent Commencement Date. Promptly upon the occurrence of the Rent Commencement Date, Landlord
and Tenant shall execute and deliver a letter designating the Rent Commencement Date substantially in the form attached hereto as Exhibit D, but the failure by either party to execute and deliver such a letter shall have no effect on
the Rent Commencement Date, as hereinabove determined. 
 Basic Rent Commencement Date: The date that occurs seven (7) months
after the Rent Commencement Date. 
 Basic Rent: The Basic Rent is as follows: 

 

									
	 RENTAL PERIOD
	  	ANNUAL BASIC RENT	 	  	MONTHLY PAYMENT	 
	 Lease Year 1*
	  	$	447,843.00	 	  	$	37,320.25	 
	 Lease Year 2*
	  	$	459,039.08	 	  	$	38,253.26	 
	 Lease Year 3
	  	$	470,515.05	 	  	$	39,209.59	 
	 Lease Year 4
	  	$	482,277.93	 	  	$	40,189.83	 
	 Lease Year 5
	  	$	494,334.88	 	  	$	41,194.57	 
	 Lease Year 6
	  	$	506,693.25	 	  	$	42,224.44	 
	 Lease Year 7
	  	$	519,360.58	 	  	$	43,280.05	 
	 Lease Year 8
	  	$	532,344.59	 	  	$	44,362.05	 
	 Lease Year 9
	  	$	545,653.21	 	  	$	45,471.10	 
	 Lease Year 10
	  	$	559,294.54	 	  	$	46,607.88	 
	 Lease Year 11
	  	$	573,276.90	 	  	$	47,773.08	 

  

	*	 Subject to Section 3.1, below. 

Tenant’s Proportionate Share: 9.76% (which is based on the ratio of (a) Premises Rentable Area to (b) Rentable Area of
the Buildings). 
 Tenant’s Building Share: 41.99% (which is based on the ratio of the (a) Premises Rentable Area to
(b) Rentable Area of the Building). 
 Security Deposit: $111,960.75, to be held and disposed of as provided in
Section 14.8. 
 Term: The period commencing on the Commencement Date and expiring at the close of the last day of the one
hundred twenty sixth (126th) full calendar month thereafter, including any partial month, if applicable. The Term shall include any extension thereof that is expressly provided for by this Lease that is effected strictly in accordance with this
Lease; if no extension of the Term is expressly provided for by this Lease, no right to extend the Term shall be implied by this provision. 

  
 2 

 Initial General Liability Insurance: $5,000,000 aggregate (combined single limit) for
property damage, bodily injury or death. 
 Permitted Use: General office, laboratory, and research and development uses (and uses
customarily accessory to the foregoing), all in accordance with all applicable Laws, in compliance with the use and occupancy certificate issued for the Building, and consistent with the character of a first class office/laboratory building. 

1.2    Additional Definitions. When used in Lease, the capitalized terms set forth below shall bear
the meanings set forth below. 
 Adequate Assurance of Future Performance: As defined in Section 14.2. 

Additional Rent: All charges and sums payable by Tenant as set forth in this Lease, other than and in addition to Basic Rent. 

Allowance: As defined in Section 5.2(g). 

Alterations: As defined in Section 5.2. 

Bankruptcy Code: As defined in Section 14.1. 

Base Building: Shall mean all of the Structural Elements (as hereinafter defined) of the Building, the roof, the common building and
core facilities of the Building, and the Base Building Systems serving the Building, but shall not include any Improvements relating to the Premises (whether existing or constructed by Landlord or Tenant), Alterations, the distribution portions of
Base Building Systems which exclusively serve the Premises (whether located in the Premises or other areas of the Building), or other fixtures or personal property installed by or on behalf of Tenant or any party claiming by, through or under
Tenant. 
 Base Building Systems: Shall mean the mechanical, gas, electrical, sanitary, heating, air conditioning, ventilating,
plumbing, fire control and suppression, sprinkler/life safety and security systems (to the extent installed by Landlord), the common acid neutralization system and tempered water system, and other common service systems of the Building. 

Brokers: Scheer Partners (representing Landlord and Tenant) 

Business Day: All days except Saturdays, Sundays, New Year’s Day, Martin Luther King Day, Presidents Day, Memorial Day,
Independence Day, Labor Day, Columbus Day, Veteran’s Day, Thanksgiving Day, Christmas Day and any other weekday on which banks in Gaithersburg, Maryland are required to be closed. 

Claims: As defined in Section 5.4(a). 

Common Facilities: As defined in Section 2.2. 

Comparable Buildings: Buildings in the MD-355/I-270
Montgomery County Technology Corridor of an age, size, quality, condition, offered amenities, use and type of building systems comparable to that of the Building. 

Default Interest Rate: As defined in Section 3.1(a). 

  
 3 

 Electric Meter: As defined in Section 7.4(a). 

Environmental Condition: Any disposal, release or threat of release of Hazardous Materials on, under, from or about the Building or the
Property or storage of Hazardous Materials on, from or about the Building or the Property. 
 Environmental Laws: All local, state
and federal environmental, health and/or safety-related laws, statutes, orders, standards, courts’ decisions, ordinances, rules and regulations (as interpreted by judicial and administrative decisions), decrees, directives, guidelines, permits
or permit conditions, currently existing and as amended, enacted, issued or adopted in the future which are or become applicable to all or any portion of the Property, including, without limitation, the Environment Article of the Annotated Code of
Maryland (“Environmental Code”), the Comprehensive Environmental Response, Compensation and Liability Act of 1980, 42 U.S.C. § 9601 et seq., the Resource Conservation and Recovery Act of 1976, 42 U.S.C. § 6901 et
seq., the Toxic Substances Control Act, 15 U.S.C. §2061 et seq., the Federal Clean Water Act, 33 U.S.C. §1251, the Federal Clean Air Act, 42 U.S.C. §7401 et seq., and the Hazardous Material Transportation Act, 49
U.S.C. 1801, et seq. 
 Event of Default: As defined in Section 14.1. 

Exit Survey: As defined in Section 12.2(a). 

Extended Term: As defined in Section 16.1. 

Exterior Building Signage: As defined in Section 2.2(e). 

Fair Market Rental Value: As defined in Section 16.3. 

Force Majeure: Collectively and individually, strikes, lockouts or other labor trouble, fire or other casualty, acts of God,
governmental preemption of priorities or other controls in connection with a national or other public emergency or shortages of fuel, supplies or labor resulting therefrom, unusually adverse weather conditions, fire or other casualty, acts of
terrorism or bioterrorism, civil commotion, or any other cause, whether similar or dissimilar, beyond the reasonable control of the party required to perform an obligation. 

Gas Meter: As defined in Section 7.4(b). 

Generator: As defined in Section 2.2(g). 

Generator Area: As defined in Section 2.2(g). 

Hazardous Materials: Shall mean chemicals, contaminants, pollutants, flammables, explosives, materials, wastes or other substances
defined, determined or identified as hazardous or toxic under or otherwise controlled pursuant to any Environmental Laws, including, without limitation, any “oil,” “hazardous material,” “hazardous waste,”
“hazardous substance” or “chemical substance or mixture”, as the foregoing terms (in quotations) are defined in any Environmental Laws, any pollutant or contaminant or hazardous, dangerous or toxic chemicals, materials, or
substances within the meaning of any Environmental Laws relating to or imposing liability or standards of conduct concerning any hazardous, toxic or dangerous waste, substance or material, all as amended or hereafter amended; any petroleum and/or
petroleum b-products; any radioactive materials, including any source, special nuclear or byproduct material as defined at 42 U.S.C. Sec. 2011 et seq., as amended or hereafter amended; asbestos in any
form or condition; lead-based paint hazards, i.e., any condition that causes exposure to lead from 

  
 4 

 
lead contaminated dust, lead-contaminated soil, or lead contaminated paint that is deteriorated or present in accessible surfaces, friction surfaces or impact surfaces that would result in
adverse human health effects as established by the appropriate Federal or State agency; any oil, petroleum products and their byproducts as defined by Environmental Code, Section 4-401 et seq., as
amended from time to time, and regulations promulgated thereunder; and any “hazardous substance” as defined by the Environmental Code Section 7-101, et seq., as amended from time to time,
and regulations promulgated thereunder, which term “hazardous substance” shall include toxic, carcinogenic and flammable substances as defined by the Title 6 of the Environmental Code, as amended from time to time and regulations
promulgated thereunder. 
 Hazardous Materials Documents: As defined in Section 5.4(b). 

Improvements: As defined in Section 10.2. 

Interim Space: Intentionally deleted. 

Landlord Parties: As defined in Section 10.1. 

Landlord’s Restoration Work: As defined in Section 11.2. 

Landlord’s Work: As defined in Exhibit C. 

Laws: All present and future statutes, laws, codes, regulations, ordinances, orders, rules, bylaws, administrative guidelines,
requirements, directives and actions of any federal, state or local governmental or quasi-governmental authority, and other legal requirements of whatever kind or nature that are applicable to the Property, including, without limitation, all
Environmental Laws and the Americans With Disabilities Act of 1990 (including the Americans With Disabilities Act Accessibility Guidelines for Buildings and Facilities), and any amendments, modifications or changes to any of the foregoing. 

Lease Year: Any twelve (12) month period during the Term of the Lease commencing as of the Commencement Date, or as of any
anniversary of the Commencement Date, except that if the Commencement Date does not occur on the first day of a calendar month, then (i) the first Lease Year shall further include the partial calendar month in which the first anniversary of the
Commencement Date occurs, and (ii) the remaining Lease Years shall be the successive twelve-(12)-month periods following the end of such first Lease Year. 

OFAC: As defined in Section 15.20. 

Operating Expenses: As defined in Section 9.1. 

Operating Year: As defined in Section 9.1. 

Parking Areas: As defined in Section 2.2(c). 

Permitted Transfer: As defined in Section 6.1(b). 

Plans: As defined in Exhibit C. 

Recapture Date: As defined in Section 6.5. 

Rent: Basic Rent and Additional Rent, collectively. 

  
 5 

 Rooftop Area: As defined in Section 2.2(f). 

Roof Use: As defined in Section 2.2(f). 

Rules and Regulations: As defined in Section 2.2. 

Specified Restoration Work: As defined in Section 11.2. 

Structural Elements: Shall mean the structural (i.e., load bearing) components of the Building’s footings, foundations, exterior
structural walls, interior structural columns and other load-bearing elements of the Building. 
 Substantial Completion Date: As
defined in Exhibit C. 
 Successor Landlord: As defined in Section 13.1. 

Superior Lease: As defined in Section 13.1. 

Superior Lessor: As defined in Section 13.1. 

Superior Mortgage: As defined in Section 13.1. 

Superior Mortgagee: As defined in Section 13.1. 

Tangible Net Worth: Shall mean total assets minus intangible assets (including, without limitation, goodwill, patents and copyrights)
and total liabilities, all as calculated in accordance with generally accepted accounting principles. 
 Taxes: As defined in
Section 8.1. 
 Tax Year: As defined in Section 8.1. 

Tenant’s Removable Property: As defined in Section 5.2. 

Tenant’s Restoration Work: As defined in Section 11.2. 

Tenant’s Work: As defined in Exhibit C. 

Tenant’s Delay: As defined in Exhibit C. 

Tenant Party: As defined in Section 5.4(a). 

Transfer: As defined in Section 6.1(a). 

Transferee: As defined in Section 6.1(a). 

Transfer Notice: As defined in Section 6.2(a). 

1.3    Enumeration of Exhibits. The following Exhibits are a part of this Lease, are incorporated
herein by reference attached hereto, and are to be treated as a part of this Lease for all purposes. Undertakings contained in such Exhibits are agreements on the part of Landlord and Tenant, as the case may be, to perform the obligations stated
therein. 
 Exhibit A – Location Plan of the Premises 

Exhibit B – Plan of the Property 

Exhibit C – Work Letter 

Exhibit D – Commencement Date Letter 

Exhibit E – Operating Expenses 

Exhibit F – Rules and Regulations 

Exhibit G – SNDA 

  
 6 

 ARTICLE 2 

PREMISES AND APPURTENANT RIGHTS 

2.1    Lease of Premises. Landlord hereby leases to Tenant and Tenant hereby leases from Landlord the
Premises for the Term and upon the terms and conditions hereinafter set forth. 
 2.2    Appurtenant Rights and
Reservations 
 (a)    Tenant shall have, as appurtenant to the Premises, the
non-exclusive license to use, and permit its invitees to use in common with Landlord and others, (i) public or common lobbies, hallways, stairways and common walkways necessary for access to the Building
and the Premises, and if the portion of the Premises on any floor includes less than the entire floor, the common toilets, corridors and lobbies of such floor, each as made available by Landlord from time to time for use in common by tenants of the
Building; (ii) the access roads, driveways, parking areas, loading areas, pedestrian sidewalks, landscaped areas, trash enclosures; (iii) the autoclave and glasswasher installed as part of Landlord’s Work, as more particularly
described in Exhibit C, and other areas or facilities, if any, which are located in or on the Property and designated by Landlord from time to time for the non-exclusive use of tenants and other
occupants of the Property (the “Common Facilities”); but such rights shall always be subject to reasonable rules and regulations from time to time established by Landlord pursuant to Section 15.6 (the
“Rules and Regulations”) and to the right of Landlord to designate and change from time to time such areas and facilities so to be used (provided that such changes do not materially adversely affect Tenant’s use of the Premises
or Tenant’s parking rights and do not materially increase the obligations or materially decrease the rights of Tenant under this Lease). Notwithstanding anything to the contrary herein or in the Lease contained, Landlord has no obligation to
allow any particular telecommunication service provider to have access to the Building or to the Premises. If Landlord permits such access, Landlord may condition such access upon the payment to Landlord by the service provider of fees assessed by
Landlord in its sole discretion 
 (b)    Excepted and excluded from the Premises and the Common Facilities are the
floor slab, demising walls and perimeter walls and exterior windows (except the inner surfaces of each thereof), and any space in the Premises used for shafts, stacks, pipes, conduits, fan rooms, ducts, electric or other utilities, sinks or other
Building facilities, but the entry doors (and related glass and finish work) to the Premises are a part thereof. Landlord shall have the right to place in the Premises (but in such manner as to reduce to a minimum interference with Tenant’s use
of the Premises and only to the extent reasonably necessary) interior storm windows, sun control devices, utility lines, equipment, stacks, pipes, conduits, ducts and the like. In the event that Tenant shall install any hung ceilings or walls in the
Premises, Tenant shall install and maintain, as Landlord may reasonably require, proper access panels therein to afford access to any facilities above the ceiling or within or behind the walls. Tenant shall be entitled to install any such ceilings
or walls only in compliance with the other terms and conditions of this Lease. Tenant shall have no right to access and use the fan, meter and sprinkler rooms, janitorial, electrical, telephone and telecommunications closets, conduits, risers,
plenum spaces, roof access ladders and other service areas of the Building without the prior written consent of Landlord. 

  
 7 

 (c)    Tenant shall have the license, on an unreserved, non-exclusive basis (except as otherwise set forth herein), to park in the portions of the surface parking area on the Property shown on the plan attached hereto as Exhibit H (collectively, the
“Parking Areas”), in common with other tenants of the Buildings upon such terms and conditions as may be reasonably established by Landlord from time to time during the Term of this Lease. Tenant agrees not to overburden the Parking
Areas and agrees to cooperate with Landlord and other tenants in use of the Parking Areas. For purposes of determining whether Tenant is overburdening the Parking Areas, Tenant shall be deemed to have a parking allocation of forty-one (41) parking spaces (which is based on a ratio of three (3) parking spaces for each one thousand (1,000) square feet of Premises Rentable Area), of which
thirty-six (36) shall be unreserved and five (5) shall be reserved parking spaces in a mutually agreeable location. Tenant shall have the right to park in such allocated parking spaces regardless of
how the remaining parking spaces are allocated to other tenants of the Buildings. Subject to such allocation, Landlord reserves the right in its sole, but reasonable, discretion to determine whether the Parking Areas are becoming overburdened.
Landlord shall have the absolute right (i) to allocate and assign parking spaces among some or all of the tenants of the Buildings (and Tenant shall comply with any such parking assignments), (ii) to reconfigure the Parking Areas, and/or
(iii) to modify the existing ingress to and egress from the Parking Areas as Landlord shall deem appropriate, as long as access to such Parking Areas is maintained after such modification is completed and further provided that Tenant’s
parking allocation is not reduced. Landlord may delegate its responsibilities hereunder to a parking operator in which case such parking operator shall have all the rights attributed hereby to Landlord. The parking rights allocated to Tenant
pursuant to this Lease are provided to Tenant solely for use by Tenant’s own personnel and such rights may not be transferred, assigned, subleased or otherwise alienated by Tenant without Landlord’s prior approval. The parking spaces
initially will not be separately identified; however Landlord reserves the right to separately identify by signs or other markings the area or parking spaces to which Tenant’s parking rights relate. Landlord shall have no obligation to monitor
the use of the Parking Areas, nor shall Landlord be responsible for any loss or damage to any vehicle or other property or for any injury to any person. Tenant shall comply with all rules and regulations which may be adopted by Landlord from time to
time with respect to parking and/or the Parking Areas. In the event Landlord elects, or is required by any Law, to limit or control parking, whether by validation of parking tickets or any other method of assessment, Tenant agrees to participate in
such validation or assessment program under such rules and regulations as are from time to time established by Landlord, provided that in no event shall any such rules and regulations require the payment of fees for the use of the Parking Areas. In
no event shall Tenant be required to pay a separate fee in connection with Tenant’s right to use the Parking Areas as set forth in this paragraph. 

(d)    The designation or use from
time-to-time of portions of the Property as Common Facilities shall not restrict Landlord’s use of such areas for buildings, structures and/or for retail or such
other purposes in connection with and consistent with the operations of the Property as Landlord shall determine, Landlord hereby reserving the unrestricted right to build, add to, subtract from, lease, license, relocate and/or otherwise use
(temporarily and/or permanently), any buildings, kiosks, other structures, parking areas, roadways or other areas or facilities anywhere upon the Property for such other purposes as Landlord shall determine, provided that the same do not materially
adversely affect Tenant’s right to use the Premises for the Permitted Use or Tenant’s parking rights and do not materially increase Tenant’s obligations under this Lease. 

(e)    Except for the Exterior Building Signage (as hereinafter defined), Tenant will not place on the exterior of the
Premises (including both interior and exterior surfaces of doors and interior surfaces of windows) or on any part of the Building outside the Premises, any sign, symbol, advertisement or the like visible to public view outside of the Premises. For
so long as no Event of Default exists hereunder, Tenant shall be permitted, at Tenant’s expense, to install an exterior sign containing Tenant’s (or in lieu thereof, a Permitted Transferee’s) name and logo on the exterior of the

  
 8 

 
Building in the location and dimensions shown on Exhibit I attached hereto (the “Exterior Building Signage”). The design, lighting, proportions, method of installation and
color of such Exterior Building Signage shall be subject to the prior approval of Landlord (which shall not be unreasonably withheld, delayed or conditioned) and shall be further subject to (i) all applicable Laws and (ii) Tenant obtaining
all necessary permits and approvals therefor prior to installation of the same (including any approvals required by the Bennington Community Association). Tenant acknowledges and agrees that it shall be Tenant’s responsibility to repair, at
Tenant’s expense, any damage caused to the Building by the installation, modification, or removal of the Exterior Building Signage (it being agreed that Landlord shall have the right to require Tenant to remove the same at the expiration or
earlier termination of the Term) and to restore any areas of the Building impacted by installation or removal of the Exterior Building Signage. Tenant acknowledges and agrees that Tenant’s right to the Exterior Building Signage pursuant to this
Section 2.2(e) is not on an exclusive basis and that Landlord may grant other tenants in the Property the right to signage on the Property and/or Buildings. In the event Tenant fails to satisfy the conditions set forth in
the first sentence of this Section 2.2(e), Tenant agrees that, if requested by Landlord, it shall promptly remove the Exterior Building Signage at Tenant’s expense. The right to the Exterior Building Signage granted
pursuant to this Section 2.2(e) may not be transferred to any third party occupying the Premises, except for any Permitted Transferee, without the prior approval of Landlord (which approval shall not be unreasonably
withheld, delayed or conditioned). 
 ARTICLE 3 

BASIC RENT 

3.1    Payment. 

(a)    Tenant shall pay Basic Rent and Additional Rent to Landlord, or as directed by Landlord, without offset, abatement
(except as provided in Section 11.3), deduction or demand. Basic Rent shall be payable in equal monthly installments, commencing on the Basic Rent Commencement Date, in advance, on the first day of each and every calendar
month during the Term of this Lease, to Landlord at Landlord’s Notice Address or at such other place as Landlord shall from time to time designate by notice, in lawful money of the United States. Notwithstanding the foregoing, the first monthly
installment of Basic Rent shall be paid to Landlord upon execution and delivery of this Lease by Tenant. In the event that any installment of Basic Rent or any payment of Additional Rent is not paid when due, Tenant shall pay, in addition to any
charges under Section 14.3, at Landlord’s request an administrative fee equal to five percent (5%) of the overdue payment. In addition to the foregoing, if payment of Basic Rent or Additional Rent or other charges due
under this Lease is not made within ten (10) days after the date due, such past due amount shall bear interest from the date due until paid at a rate equal to the lesser of (i) a rate equal to eight percent (8%) and (ii) the highest
rate permitted to be charged by applicable Law (the “Default Interest Rate”). Landlord and Tenant agree that all amounts due from Tenant under or in respect of this Lease, whether labeled Basic Rent, Additional Rent or otherwise,
shall be considered as rental reserved under this Lease for all purposes, including without limitation regulations promulgated pursuant to the Bankruptcy Code, and including further without limitation Section 502(b) thereof. Notwithstanding the
foregoing, the first (1st) late payment of Rent in any given twelve (12) month period shall not incur an administrative fee or interest if, within five (5) days after written notice from
Landlord, Tenant pays any overdue balance in full. 
 (b)    Basic Rent for any partial month shall be pro-rated on a daily basis, and if the first day on which Tenant must pay Basic Rent shall be other than the first day of a calendar month, the first payment which Tenant shall make to Landlord shall be equal to a
proportionate part of the monthly installment of Basic Rent for the partial month from the first day on which Tenant must pay Basic Rent to the last day of the month in which such day occurs, plus the installment of Basic Rent for the succeeding
calendar month. 

  
 9 

 ARTICLE 4 

CONDITION OF PREMISES 

4.1    Condition of Premises; Landlord’s Work. Except for
Landlord’s Work, to be performed by Landlord in accordance with the provisions of Exhibit C, the Premises are being leased in their present condition, AS IS, WITHOUT REPRESENTATION OR WARRANTY by Landlord. Except for
Landlord’s Work, Landlord shall have no obligation to perform any alterations or to make any improvements to the Premises to prepare them for Tenant’s occupancy. Tenant acknowledges that Tenant has inspected the Premises and Common
Facilities and has found the same satisfactory. Notwithstanding anything in this Section to the contrary, if Tenant shall notify Landlord in writing during the Build-Out Period of any failure of any of the
Base Building Systems serving the Premises, excluding those systems or components installed in connection with Landlord’s Work, to function in good working order and repair relative to how said system is designed to function and how the same
(or a substantially similar) system would be expected to function in a comparable building, and Landlord (or Landlord’s contractor) determines in its reasonable discretion that the applicable defect existed prior to the Commencement Date and
was not cause by the acts or omissions of Tenant, then Landlord shall repair or otherwise correct such failure at Landlord’s sole cost and expense (and not as an Operating Expense). 

ARTICLE 5 
 USE OF
PREMISES 
 5.1    Permitted Use. Tenant agrees that the Premises shall be used and
occupied by Tenant only for Permitted Use and for no other use without Landlord’s express written consent. Tenant shall not perform any act or carry on any practice which may injure the Premises, or any other part of the Buildings, or cause any
offensive odors or loud noise or constitute a nuisance or a menace to any other tenant or tenants or other persons in the Buildings. 

5.2    Installations and Alterations by Tenant. 

(a)    Excluding the Tenant’s Work (the performance of which is instead subject to Exhibit C), Tenant
shall make no alterations, additions (including, for the purposes hereof, wall-to-wall carpeting), or improvements (collectively, “Alterations”) in or
to the Premises or any Base Building Systems serving the Premises without Landlord’s prior written consent, which consent shall not be unreasonably withheld or delayed with respect to non-structural
Alterations that do not affect or involve any portion of the Base Building or the Base Building Systems. Notwithstanding the foregoing, Tenant may construct non-structural Alterations in the Premises that do
not adversely affect the Structural Elements or the Base Building Systems or safety of the Building without Landlord’s prior approval or notice to Landlord, if the cost of any such project does not exceed Fifty Thousand Dollars ($50,000). Any
Alterations shall be in accordance with Landlord’s Rules and Regulations from time to time in effect and with plans and specifications meeting the requirements set forth in such Rules and Regulations and approved in advance by Landlord. All
Alterations shall (i) be performed in a good and workmanlike manner using only new and only quality materials and in compliance with all applicable Laws; (ii) be made at Tenant’s sole cost and expense; (iii) become part of the
Premises and the property of Landlord upon the expiration or earlier termination of the Term of this Lease unless Landlord otherwise notifies Tenant such Alteration must be removed as provided in Section 5.2(e) below;
(iv) be made by contractors and subcontractors approved in advance by Landlord; and (v) be coordinated with any work being 

  
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performed by Landlord in such a manner as not to damage the Building or interfere with the management, maintenance or operation of the Building. At Landlord’s request, Tenant shall, before
any work estimated to cost in excess of One Hundred Fifty Thousand Dollars ($150,000.00) is started, secure assurances satisfactory to Landlord in its reasonable discretion protecting Landlord against claims arising out of the furnishing of labor
and materials for the Alterations. If any Alterations shall involve the removal of fixtures, equipment or other property in the Premises which are not Tenant’s Removable Property, such fixtures, equipment or property shall be promptly replaced
by Tenant at its expense. Tenant acknowledges and agrees that any review or approval by Landlord of any plans and/or specifications with respect to any Alterations is solely for Landlord’s benefit, and without any representation or warranty
whatsoever to Tenant with respect to the adequacy, correctness or efficiency thereof or otherwise. Landlord shall have the right to require that Tenant use Landlord’s designated structural contractor and architect for the Building for the
design and performance of any Alterations affecting the Structural Elements and/or that Tenant use Landlord’s designated fire and life safety contractor and engineer for the Building to perform Tenant’s connection to the Building’s
fire alarm system or any Alterations that affect the fire alarm or fire/life safety systems in the Building. In connection with Tenant’s performance of any Alterations, Tenant shall pay Landlord a construction oversight fee in an amount equal
to one percent (1%) of the costs incurred by Tenant in connection with its performance of any such Alterations. 

(b)    All articles of personal property and all business and trade fixtures, furniture, moveable partitions, freestanding
cabinet work, machinery and equipment owned or installed by Tenant or any party claiming by, through or under Tenant solely at its expense in the Premises (“Tenant’s Removable Property”) shall remain the property of Tenant and
may be removed by Tenant at any time prior to the expiration or earlier termination of the Term, provided that Tenant, at its expense, shall repair any damage to the Building caused by such removal. Landlord shall have no lien or other interest in
any item of Tenant’s Removable Property pursuant to this Lease, and to the extent that any Landlord’s lien in Tenant’s Removable Property may arise by Law, Landlord agrees to subordinate such lien and to confirm such subordination to
any lender of Tenant by written agreement in form acceptable to Landlord. Any provision of this Lease to the contrary notwithstanding, Tenant shall be solely responsible for the ordering, delivery and installation of any telephone, telephone
switching, telephone and data cabling, and Tenant’s Removable Property to be installed by or on behalf of Tenant in the Premises and for the removal of all telephone and data cabling and all other lines installed in the Building by or on
behalf of Tenant or anyone claiming by, through or under Tenant at the expiration or earlier termination of the Term of this Lease. 

(c)    Notice is hereby given that Landlord shall not be liable for any labor or materials furnished or to be furnished to
Tenant upon credit, and that no mechanic’s or other lien for any such labor or materials shall attach to or affect the reversion or other estate or interest of Landlord in and to the Premises, the Building or the Property. To the maximum extent
permitted by law, before such time as any contractor commences to perform work on behalf of Tenant, such contractor (and any subcontractors) shall furnish a written statement acknowledging the provisions set forth in the prior clause. Tenant agrees
to pay promptly when due the entire cost of any work done on behalf of Tenant, its agents, employees or independent contractors, and not to cause or permit any liens for labor or materials performed or furnished in connection therewith to attach to
all or any part of the Property and immediately to discharge any such liens which may so attach. If, notwithstanding the foregoing, any lien is filed against all or any part of the Property for work claimed to have been done for, or materials
claimed to have been furnished to, Tenant or its agents, employees or independent contractors, Tenant, at its sole cost and expense, shall cause such lien to be dissolved promptly after receipt of notice that such lien has been filed, by the payment
thereof or by the filing of a bond sufficient to accomplish the foregoing. If Tenant shall fail to discharge any such lien, Landlord may, at its option, discharge such lien and treat the cost thereof (including attorneys’ fees incurred in
connection therewith) as Additional Rent payable upon demand, it being expressly agreed that such discharge by Landlord shall not be deemed to waive or release the Event 

  
 11 

 
of Default in not discharging such lien. Tenant shall indemnify and hold Landlord harmless from and against any and all expenses, liens, claims, liabilities and damages based on or arising,
directly or indirectly, by reason of the making of any alterations, additions or improvements by or on behalf of Tenant to the Premises under this Section 5.2, which obligation shall survive the expiration or termination of
this Lease. 
 (d)    Intentionally deleted. 

(e)    Landlord may, by written notice to Tenant prior to the expiration or earlier termination of the Term of this Lease,
require Tenant, at Tenant’s expense, to remove any Alterations (including the Security System and those Alterations which constitute Tenant’s Work, as such terms are defined below) in the Premises at the expiration or earlier termination
of the Term and repair any damage to the Premises and Building caused by such removal. If Tenant fails to complete such removal and/or to repair any damage caused by the removal of any Alterations in the Premises, Landlord may do so and may charge
the cost thereof to Tenant. Notwithstanding the foregoing, Tenant may, prior to making any Alterations, submit a written request for a determination by Landlord as to whether Tenant will be required to remove the Alterations from the Premises at the
expiration of the Term in accordance with this paragraph, in which case Landlord shall notify Tenant in writing at the time that Landlord consents to such Alteration whether, in Landlord’s sole discretion, Tenant will be required to remove the
subject Alterations from the Premises at the expiration of the Term. In the event that the Alterations deviate in any manner from the plans for such Alterations as they were consented to by Landlord, Landlord’s removal determination shall not
be binding on Landlord. In no event shall Landlord be required to make a removal determination concerning Alterations for which Landlord has already given its consent in accordance with this Article 5. Notwithstanding anything to the contrary
herein, in no event shall Landlord have the right to require Tenant to remove any Alterations in the Premises that constitute normal office improvements. 

(f)    Tenant may, at its sole cost and expense and subject to the provisions of this
Section 5.2, install an electronic card key system or similar type of security system (“Security System”) within the Premises and/or immediately outside the doors to the Premises for the exclusive use of
Tenant and Tenant’s employees. The Security System shall be provided by a company reasonably acceptable to Landlord. Tenant shall furnish Landlord with a copy of all key codes or access cards to allow Landlord access to the Premises as set
forth in this Lease. Additionally, Tenant shall ensure that the Security System shall comply with all applicable Laws, rules and regulations, including all fire safety laws, and in no event shall Landlord be liable for, and Tenant shall defend,
indemnify, and hold harmless Landlord and its representatives and agents from and against, any claims, demands, liabilities, causes of action, suits, judgments, damages and expenses arising from the Security System or the malfunctioning thereof in
accordance with Tenant’s indemnity obligations set forth herein. 
 5.3    Extra Hazardous
Use. Tenant covenants and agrees that Tenant will not do or permit anything to be done in or upon the Premises, or bring in anything or keep anything therein, which shall increase the rate of property or liability insurance on the Premises
or the Property above the standard rate applicable to Premises being occupied for the Permitted Use. If the premium or rates payable with respect to any policy or policies of insurance carried by or on behalf of Landlord with respect to the Property
increases as a result of any act or activity on or use of the Premises during the Term or payment by the insurer of any claim arising from any act or neglect of Tenant, its employees, agents, contractors or invitees, Tenant shall pay such increase,
from time to time, within fifteen (15) days after demand therefor by Landlord, as Additional Rent. 

  
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 5.4    Hazardous Materials. 

(a)    Tenant shall not cause or permit any Hazardous Materials to be brought upon, kept or used in or about the Premises,
the Building or the Property in violation of applicable Laws by Tenant or any of its employees, agents, contractors or invitees (collectively with Tenant, each a “Tenant Party”). If (i) Tenant breaches such obligation,
(ii) the presence of Hazardous Materials as a result of such a breach results in contamination of the Property, any portion thereof, or any adjacent property, (iii) contamination of the Premises otherwise occurs during the Term or any
extension or renewal hereof or holding over hereunder as a result of the actions of a Tenant Party, or (iv) contamination of the Property occurs as a result of Hazardous Materials that are placed on or under or are released into the Property by
a Tenant Party, then Tenant shall indemnify, save, defend (at Landlord’s option and with counsel reasonably acceptable to Landlord) and hold the Landlord Indemnitees harmless from and against any and all demands, claims, liabilities, losses,
costs, expenses, actions, causes of action, damages, suits or judgments, and all reasonable expenses (including reasonable attorneys’ fees, charges and disbursements, regardless of whether the applicable demand, claim, action, cause of action
or suit is voluntarily withdrawn or dismissed) (“Claims”) of any kind or nature, including (w) diminution in value of the Property or any portion thereof, (x) damages for the loss or restriction on use of rentable or
usable space or of any amenity of the Property, (y) damages arising from any adverse impact on marketing of space in the Property or any portion thereof and (z) sums paid in settlement of Claims that arise during or after the Term as a
result of such breach or contamination. This indemnification by Tenant includes costs incurred in connection with any investigation of site conditions or any clean-up, remedial, removal or restoration work
required by any governmental authority because of Hazardous Materials present in the air, soil or groundwater above, on, under or about the Property as a result of the actions of a Tenant Party. Without limiting the foregoing, if the presence of any
Hazardous Materials in, on, under or about the Property, any portion thereof or any adjacent property caused by any Tenant Party results in any contamination of the Property, any portion thereof or any adjacent property, then Tenant shall promptly
take all actions at its sole cost and expense as are necessary to return the Property, any portion thereof or any adjacent property to its respective condition existing prior to the time of such contamination, as and to the extent required by an
independent third party state-certified professional with appropriate expertise in such Hazardous Materials cleanup and who is reasonably acceptable to Landlord; provided that Landlord’s written approval of such action shall first be
obtained, which approval Landlord shall not unreasonably withhold; and provided, further, that it shall be reasonable for Landlord to withhold its consent if such actions could have a material adverse long-term or short-term effect on the
Property, any portion thereof or any adjacent property. Tenant’s obligations under this Section 5.4 shall not be affected, reduced or limited by any limitation on the amount or type of damages, compensation or benefits
payable by or for Tenant under workers’ compensation acts, disability benefit acts, employee benefit acts or similar legislation. 

(b)    Landlord acknowledges that it is not the intent of this Article to prohibit Tenant from operating its business for
the Permitted Use. Tenant may operate its business according to the custom of Tenant’s industry so long as the use or presence of Hazardous Materials is strictly and properly monitored in accordance with applicable Laws and Environmental Laws.
As a material inducement to Landlord to allow Tenant to use Hazardous Materials in connection with its business, Tenant agrees to deliver to Landlord (i) a list identifying each type of Hazardous Material to be present at the Premises that is
subject to regulation under any Environmental Laws, (ii) a list of any and all approvals or permits from governmental authorities required in connection with the presence of such Hazardous Material at the Premises and (iii) correct and
complete copies of (x) notices of violations of applicable Laws related to Hazardous Materials and (y) plans relating to the installation of any storage tanks to be installed in, on, under or about the Property (provided that
installation of storage tanks shall only be permitted after Landlord has given Tenant its written consent to do so, which consent Landlord may withhold in its sole and absolute discretion) and closure plans or any other documents required by any and
all governmental authorities for any storage tanks installed in, on, under or about the Property for the closure of any such 

  
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storage tanks (collectively, “Hazardous Materials Documents”). Tenant shall deliver to Landlord updated Hazardous Materials Documents, within fourteen (14) days after
receipt of a written request therefor from Landlord, not more often than once per year, unless there are any changes to the Hazardous Materials Documents or Tenant initiates any Alterations or changes its business, in either case in a way that
involves any material increase in the types or amounts of Hazardous Materials. For each type of Hazardous Material listed, the Hazardous Materials Documents shall include (t) the chemical name, (u) the material state (e.g., solid, liquid,
gas or cryogen), (v) the concentration, (w) the storage amount and storage condition (e.g., in cabinets or not in cabinets), (x) the use amount and use condition (e.g., open use or closed use), (y) the location (e.g., room number or other
identification) and (z) if known, the chemical abstract service number. Notwithstanding anything in this Section 5.4 to the contrary, Tenant shall not be required to provide Landlord with any Hazardous Materials
Documents containing information of a proprietary nature, which Hazardous Materials Documents, in and of themselves, do not contain a reference to any Hazardous Materials or activities related to Hazardous Materials. Landlord may, at Tenant’s
expense, cause the Hazardous Materials Documents to be reviewed by a person or firm qualified to analyze Hazardous Materials to confirm compliance with the provisions of this Lease and with applicable Laws. In the event that a review of the
Hazardous Materials Documents indicates Tenant’s non-compliance with this Lease or applicable Laws (including without limitation any failure by Tenant to cause the Tenant Parties to comply with the
requirements of this Lease), Tenant shall, at its expense, diligently take steps to bring its storage and use of Hazardous Materials into compliance. Notwithstanding anything in this Lease to the contrary or Landlord’s review into Tenant’s
Hazardous Materials Documents or use or disposal of hazardous materials, however, Landlord shall not have and expressly disclaims any liability related to Tenant’s or a Tenant Party’s or Parties’ use or disposal of Hazardous
Materials, it being acknowledged by Tenant that Tenant is best suited to evaluate the safety and efficacy of its Hazardous Materials usage and procedures. 

(c)    At any time, and from time to time, prior to the expiration of the Term, Landlord shall have the right to conduct
appropriate tests of the Property or any portion thereof to demonstrate that Hazardous Materials are present or that contamination has occurred due to the acts or omissions of a Tenant Party. Tenant shall pay all reasonable costs of such tests if
such tests reveal that Hazardous Materials exist at the Property in violation of Tenant’s obligations under this Lease. 

(d)    If storage tanks storing Hazardous Materials installed or utilized by Tenant are located on the Premises, or are
hereafter placed on the Premises by Tenant (or by any other party, if such storage tanks are utilized by Tenant), then Tenant shall monitor the storage tanks, maintain appropriate records, implement reporting procedures, properly close any storage
tanks, and take or cause to be taken all other steps necessary or required under the applicable Laws. Tenant shall have no responsibility or liability for storage tanks installed by anyone other than Tenant unless Tenant utilizes such tanks, in
which case Tenant’s responsibility for such tanks shall be as set forth in this Section 5.4. 

(e)    Tenant shall promptly report to Landlord any actual or suspected presence of mold or water intrusion at the
Premises. 
 (f)    Tenant’s obligations under this Article shall survive the expiration or earlier termination of
the Lease. During any period of time needed by Tenant or Landlord after the termination of this Lease to complete the removal from the Premises of any Hazardous Materials that are Tenant’s responsibility hereunder, Tenant shall be deemed a
holdover tenant and subject to the provisions of Section 12.1. 
 (g)    Landlord represents
that, to the best of its knowledge, Landlord has not received written notice of the presence within the Building and Premises of any Hazardous Materials in violation of applicable Environmental Laws. In the event that (i) any unlawful levels or
concentrations of 

  
 14 

 
Hazardous Materials are found to exist in the Premises, and (ii) applicable laws and regulations require that the same be removed or remediated in order for the Premises to be used for the
Permitted Use, and (iii) such Hazardous Materials were not brought into or onto the Premises or released or otherwise introduced by Tenant or by a Tenant Party or Parties, then as between Landlord and Tenant, Landlord hereby agrees to undertake
such action as may be required by such applicable law or regulation. Nothing herein shall limit Landlord’s right to pursue any third party or parties (and Tenant shall reasonably cooperate with Landlord in such effort) or to contest by any
lawful means the removal or remediation requirement or to seek a stay or delay in any enforcement action. 

5.5    Odors and Exhaust. Tenant acknowledges that Landlord would not enter into this Lease with
Tenant unless Tenant assured Landlord that under no circumstances will any other occupants of the Building or the Property (including persons legally present in any outdoor areas of the Property) be subjected to odors or fumes (whether or not
noxious), and that the Building and the Property will not be damaged by any exhaust, in each case from Tenant’s operations. Landlord and Tenant therefore agree as follows: 

(a)    Tenant shall not cause or permit any Tenant Party or Parties to cause (or conduct any activities that would cause)
any release of any odors or fumes of any kind from the Premises or the Rooftop Area. 
 (b)    Landlord makes no
representation or warranty concerning the suitability of any ventilation system existing in the Building as of the Commencement Date for Tenant’s operations in the Premises. To the extent that any such system exists as of the Commencement Date
or is otherwise installed pursuant to Exhibit C of this Lease, Tenant shall vent the Premises through such system. If Landlord at any time reasonably determines that any existing ventilation system is inadequate, Tenant shall in
compliance with applicable Laws install, upgrade, or repair any such system to provide for adequate ventilation of the Premises. The placement and configuration of all ventilation exhaust pipes, louvers and other equipment shall be subject to
Landlord’s approval, which approval shall not be unreasonably withheld, conditioned or delayed. Tenant acknowledges Landlord’s legitimate desire to maintain the Property (indoor and outdoor areas) in an odor-free manner, and Landlord may
require Tenant to abate and remove all odors in a reasonable manner that goes beyond the requirements of applicable Laws. 

(c)    Tenant shall, at Tenant’s sole cost and expense, provide odor eliminators and other devices (such as filters,
air cleaners, scrubbers and whatever other equipment may in Landlord’s reasonable judgment be necessary or appropriate from time to time) to substantially remove, eliminate and abate any odors, fumes or other substances in Tenant’s exhaust
stream that, in Landlord’s reasonable judgment, emanate from Tenant’s Premises or the Rooftop Area. Any work Tenant performs under this Section 5.4 shall constitute Alterations. 

(d)    Tenant’s responsibility to remove, eliminate and abate odors, fumes and exhaust shall continue throughout the
Term. Landlord’s approval of any future Alterations shall not preclude Landlord from requiring additional measures to eliminate odors, fumes and other adverse impacts of Tenant’s exhaust stream (as Landlord may designate in Landlord’s
reasonable discretion). Tenant shall install additional equipment as Landlord reasonably requires from time to time under the preceding sentence. Such installations shall constitute Alterations. 

(e)    If Tenant fails to install satisfactory odor control equipment as required hereunder within thirty (30) days
after Landlord’s demand made at any time pursuant to this Section 5.5, then Landlord may, without limiting Landlord’s other rights and remedies, require Tenant to cease and suspend any operations in the Premises
that, in Landlord’s reasonable determination, cause such odors, 

  
 15 

 
fumes or exhaust. For example, if Landlord determines that Tenant’s production of a certain type of product or substance causes odors, fumes or exhaust in violation of this
Section 5.5, and Tenant does not install satisfactory odor control equipment within thirty (30) days after Landlord’s request, then Landlord may require Tenant to stop producing such type of product in the
Premises unless and until Tenant has installed odor control equipment reasonably satisfactory to Landlord. 
 ARTICLE 6 

ASSIGNMENT AND SUBLETTING 

6.1    Prohibition. 

(a)    Tenant covenants and agrees that neither this Lease nor the term and estate hereby granted, nor any interest herein
or therein, will be assigned, mortgaged, pledged, encumbered or otherwise transferred, whether voluntarily, involuntarily, by operation of law or otherwise, and that neither the Premises nor any part thereof will be encumbered in any manner by
reason of any act or omission on the part of Tenant, or used or occupied or permitted to be used or occupied, by anyone other than Tenant, or for any use or purpose other than a Permitted Use, or be sublet (which term, without limitation, shall
include granting of concessions, licenses and the like) in whole or in part, without, in each case, the prior written consent of Landlord (all of the foregoing are hereinafter sometimes referred to collectively as “Transfers” and
any person to whom any Transfer is made or sought to be made is hereinafter sometimes referred to as a “Transferee”). Without limiting the foregoing, any agreement pursuant to which: (x) Tenant is relieved from the obligation
to pay, or a third party agrees to pay on Tenant’s behalf, all or any portion of the Basic Rent or Additional Rent under this Lease; and/or (y) a third party undertakes or is granted by or on behalf of Tenant the right to assign or attempt
to assign this Lease or sublet or attempt to sublet all or any portion of the Premises, shall for all purposes hereof be deemed to be a Transfer of this Lease and subject to the provisions of this Article 6. A Transfer
under this Article 6 shall also include a sale or other transfer (by one or more transfers) of any of the following: the voting stock, partnership interests, membership or other equity interests in Tenant (or any other mechanism such as the
issuance of additional stock or the creation of additional partnership or membership interests) which results in a change of greater than fifty percent (50%) of such ownership interest of Tenant (a “Change of Control”), as if such
transfer were an assignment of this Lease. Notwithstanding the foregoing, if equity interests in Tenant at any time are or become traded on a national securities exchange (as defined in the Securities Exchange Act of 1934), the transfer of equity
interests in Tenant on a national securities exchange shall not be deemed an assignment within the meaning of this Article; provided, however, that if Tenant is a corporation the outstanding stock of which is listed on a national securities
exchange, then any private purchase or buyout of stock shall be deemed a Change of Control under this Article 6. 

(b)    Notwithstanding the foregoing, Landlord’s consent shall not be required, and Section 6.4
shall not apply to either (x) transactions with an entity into or with which Tenant is merged or consolidated, or to which all or substantially all of Tenant’s assets are transferred, (y) transactions with any entity which
controls or is controlled by Tenant or is under common control with Tenant, or (z) a Change of Control (each, a “Permitted Transfer”); provided and only on condition that in any such event: 

(i)    the successor to Tenant pursuant to subparts (x) and (z) above has a net worth, computed in
accordance with generally accepted accounting principles consistently applied, which is not materially less than the Tangible Net Worth of Tenant immediately prior to such merger, consolidation or transfer, and the successor to Tenant pursuant to
subpart (y) above has a net worth, computed in accordance with generally accepted accounting principles consistently applied, sufficient to satisfy Tenant’s remaining obligations under this Lease, as reasonably determined by Landlord, 

  
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 (ii)    proof satisfactory to Landlord of the Tangible
Net Worth of both the transferee and Tenant shall have been delivered to Landlord at least ten (10) days prior to the effective date of any such transaction, 

(iii)    the transfer is for a valid business purpose of Tenant and is not a subterfuge for the provisions
of this Article 6, and 
 (iv)    the transferee agrees directly with Landlord,
by written instrument in form satisfactory to Landlord in its reasonable discretion, to be bound by all the obligations of Tenant hereunder, including, without limitation, the covenant against further assignment and subletting. 

6.2    Landlord’s Consent. 

(a)    If Tenant desires Landlord’s consent to any Transfer, Tenant shall notify Landlord in writing, which notice
(the “Transfer Notice”) shall include (i) the proposed effective date of the Transfer, which shall not be less than thirty (30) days nor more than one hundred eighty (180) days after the date of delivery of the
Transfer Notice, (ii) a description of the portion of the Premises to be transferred, (iii) all of the terms of the proposed Transfer and the consideration therefor, including the name and address of the proposed Transferee, and an
executed copy of all documentation effectuating the proposed Transfer, including all operative documents to evidence such Transfer and all agreements incidental or related to such Transfer, and (iv) current financial statements of the proposed
Transferee certified by an officer, partner or owner thereof, business credit and personal references and history of the proposed Transferee and any other information reasonably required by Landlord which will enable Landlord to determine the
financial responsibility, character, and reputation of the proposed Transferee, nature of such Transferee’s business and proposed use of the Premises. 

(b)    Within fifteen (15) days of after receipt of a Transfer Notice, Landlord shall notify Tenant of its intent to
either grant or withhold its consent to the proposed Transfer, said consent not to be unreasonably withheld, conditioned or delayed, provided and upon condition that: 

(i)    There shall not be an Event of Default that remains uncured; 

(ii)    In Landlord’s reasonable judgment the proposed Transferee is engaged in a business which is in
keeping with the then standards of the Building and Property and the proposed use is limited to the Permitted Use; 

(iii)    The proposed Transferee is a reputable entity and has sufficient financial worth and stability in
light of the responsibilities to be undertaken, based on evidence provided by Tenant (and others) to Landlord, as determined by Landlord in its reasonable discretion; 

(iv)    Neither (A) the proposed Transferee nor (B) any person or entity which, directly or
indirectly, controls, is controlled by, or is under common control with, the proposed Transferee, is then an occupant of any part of the Property, and Landlord determines that it will not as of the proposed commencement of the Transfer have adequate
available space to meet the Transferee’s needs; 

  
 17 

 (v)    The proposed Transferee is not a person or entity
with whom Landlord is then, or during the preceding six (6) months has been, actively negotiating to lease space at the Property; 

(vi)    The proposed Transfer shall be in form reasonably satisfactory to Landlord and shall comply with
the applicable provisions of this Article 6; 
 (vii)    Tenant shall not have
publicly advertised or publicized in any way the availability of the Premises at rental rate less than the base rent and additional rent at which Landlord is then offering to lease other space located in the Building without prior notice to and
approval by Landlord, which approval shall not be unreasonably withheld, conditioned or delayed; 

(viii)    With respect to a proposed sublease, the proposed sublease involves, in Landlord’s
reasonable judgment, a portion of the Premises which is independently leasable space; 
 (ix)    The
holder of any Superior Mortgage and/or Superior Lease, as applicable, consents to such Transfer (to the extent such consent is required pursuant to the applicable lease or financing documents, as the case may be); and 

(x)    Neither the identity nor business of the proposed Transferee would cause Landlord to be in violation
of any covenant or restriction contained in another lease at the Property. 
 6.3    Acceptance of
Rent. If this Lease is assigned, or if the Premises or any part thereof is sublet or occupied by anyone other than Tenant, whether or not in violation of the terms and conditions of the Lease, Landlord may, at any time and from time to time
during the pendency of an Event of Default, collect rent and other charges from the Transferee, and apply the net amount collected to the rent and other charges herein reserved, but no such Transfer, collection or modification of any provisions of
this Lease shall be deemed a waiver of this covenant, or the acceptance of the Transferee as a tenant or a release of Tenant from the further performance of covenants on the part of Tenant to be performed hereunder. Any consent by Landlord to a
particular Transfer or other act for which Landlord’s consent is required under paragraph (a) of Section 6.1 shall not in any way diminish the prohibition stated in
paragraph (a) of Section 6.1 as to any further such Transfer or other act or the continuing liability of the original named Tenant. No Transfer hereunder shall relieve Tenant from its obligations
hereunder, and Tenant shall remain fully and primarily liable therefor. Landlord may revoke any consent by Landlord to a particular Transfer if the Transfer does not provide that the Transferee agrees to be independently bound by and upon all of the
covenants, agreements, terms, provisions and conditions set forth in this Lease on the part of Tenant to be kept and performed. 

6.4    Excess Payments. If Tenant assigns this Lease or sublets the Premises or any portion thereof,
Tenant shall pay to Landlord as Additional Rent fifty percent (50%) of the amount, if any, by which (a) any and all compensation received by Tenant as a result of such Transfer, net only of reasonable expenses actually incurred by Tenant in
connection with such Transfer for brokerage commissions, attorney’s fees, improvement expenses and allowances, exceeds (b) in the case of an assignment, the Basic Rent and Additional Rent under this Lease, and in the case of a subletting,
the portion of the Basic Rent and Additional Rent allocable to the portion of the Premises subject to such subletting. Such payments shall be made on the date the corresponding payments under this Lease are due. Notwithstanding the foregoing, the
provisions of this Section shall impose no obligation on Landlord to consent to an assignment of this Lease or a subletting of all or a portion of the Premises. 

  
 18 

 6.5    Intentionally Deleted. 

6.6    Further Requirements. Tenant shall reimburse Landlord on demand, as Additional Rent, for any out-of-pocket costs (including reasonable attorneys’ fees and expenses) incurred by Landlord in connection with any actual or proposed assignment or sublease or other act
described in paragraph (a) of Section 6.1, whether or not consummated, including the costs of making investigations as to the acceptability of the proposed assignee or subtenant (such costs not to exceed $2,500,
provided that Tenant agrees to use Landlord’s standard form of consent without making material changes thereto). Any sublease to which Landlord gives its consent shall not be valid unless and until Tenant and the sublessee execute a consent
agreement in form and substance satisfactory to Landlord in its reasonable discretion and a fully executed counterpart of such sublease has been delivered to Landlord. Any sublease shall provide that: (i) the term of the sublease ends no later
than one day before the last day of the Term of this Lease; (ii) such sublease is subject and subordinate to this Lease; (iii) Landlord may enforce the provisions of the sublease, including collection of rents during the pendency of an
Event of Default; and (iv) in the event of termination of this Lease or reentry or repossession of the Premises by Landlord, Landlord may, at its sole discretion and option, take over all of the right, title and interest of Tenant, as
sublessor, under such sublease, and such subtenant shall, at Landlord’s option, attorn to Landlord, but nevertheless Landlord shall not (A) be liable for any previous act or omission of Tenant under such sublease; (B) be subject to
any defense or offset previously accrued in favor of the subtenant against Tenant; or (C) be bound by any previous modification of such sublease made without Landlord’s written consent or by any previous prepayment of more than one
month’s rent. 
 ARTICLE 7 

RESPONSIBILITY FOR REPAIRS AND CONDITION OF PREMISES; SERVICES TO BE 

FURNISHED BY LANDLORD 

7.1    Landlord Repairs. 

(a)    Except as otherwise provided in this Lease, Landlord agrees to keep in good order, condition and repair the roof,
the Base Building and Base Building Systems (but specifically excluding any equipment or systems (including, without limitation, any heating, ventilation or air conditioning) exclusively serving the Premises, or installed at Tenant’s request or
as a result of Tenant’s requirements in excess of Building standard design criteria, including, without limitation, all systems and equipment supporting Tenant’s laboratory, research and development operations (“Tenant’s
Laboratory Systems”)), all insofar as they affect the Premises, except that Landlord shall in no event be responsible to Tenant for the repair of glass in the Premises, the doors (or related glass and finish work) leading to the Premises,
or any condition in the Premises or the Building caused by any act or neglect of Tenant, its invitees or contractors. Landlord shall also keep and maintain all Common Facilities in a good and clean order, condition and repair. Landlord shall not be
responsible to make any improvements or repairs to the Building other than as expressly in this Section 7.1 provided, unless expressly provided otherwise in this Lease. 

(b)    Landlord shall never be liable for any failure to make repairs which Landlord has undertaken to make under the
provisions of this Section 7.1 or elsewhere in this Lease, unless Tenant has given notice to Landlord of the need to make such repairs, and Landlord has failed to commence to make such repairs within a reasonable time after
receipt of such notice, or fails to proceed with reasonable diligence to complete such repairs. 

  
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 7.2    Tenant Repairs; Compliance with Laws. 

(a)    Tenant shall keep and maintain the Premises and the Improvements, fixtures and appurtenances therein or thereon
(including, without limitation, Tenant’s Laboratory Systems, all heating, ventilation and air conditioning (“HVAC”) systems exclusively serving the Premises, and all electrical and mechanical systems not considered part of the
Base Building Systems or any portion of such systems that have been installed for the exclusive use and benefit of Tenant such as supplemental HVAC equipment, hot water heaters, electronic, data, phone, and other telecommunications cabling
and related equipment, and security or telephone systems for the Premises), neat and clean and in good order, condition and repair, excepting only those repairs for which Landlord is expressly responsible under the terms of this Lease, reasonable
wear and tear of the Premises, and damage by fire or other casualty or as a consequence of the exercise of the power of eminent domain; and Tenant shall surrender the Premises, at the end of the Term, in such condition. Tenant shall, at its sole
cost and expense, maintain regularly scheduled preventative maintenance/service contracts at all times during the Term with maintenance contractors for servicing all HVAC systems and other mechanical equipment located within or dedicated solely to
the Premises and contracts for all janitorial and trash removal services serving the Premises. All such contractors providing such services must be approved in advance by Landlord, which approval shall not be unreasonably withheld, conditioned or
delayed. To the extent applicable, such service contracts must include all services recommended by the equipment manufacturer within the operation/maintenance manual and required by any applicable warranty and shall become effective (and a copy of
such contract or contracts delivered to Landlord) with ninety (90) days following the date Tenant takes possession of the Premises. Subject to Section 10.5 regarding waiver of subrogation, Tenant shall be responsible
for the cost of repairs which may be made necessary by reason of damage to the Building caused by any act or neglect of Tenant, or its employees, contractors or invitees (including any damage by fire or other casualty arising therefrom).
Notwithstanding the foregoing, provided that Tenant has performed all regular maintenance as required hereunder, if the Building HVAC system, excluding any supplemental system installed by Tenant, cannot be repaired and must be replaced, as
determined by a consultant reasonably acceptable to Landlord, Landlord shall perform such replacement. In such case, Tenant shall reimburse Landlord for the cost of such replacements to the HVAC system, said costs to be amortized over their useful
life as determined in accordance with generally accepted accounting principles, consistently applied. Tenant shall pay the monthly amount of such amortization as Additional Rent hereunder, at the times and in the manner provided for the payment of
Basic Rent. 
 (b)    Tenant shall comply with all Laws from time to time in effect and all directions, rules and
regulations of governmental agencies having jurisdiction, and the standards recommended by the local Board of Fire Underwriters applicable to the Premises and Tenant’s use and occupancy thereof and its business and operations therein, and
shall, at Tenant’s expense, obtain all permits, licenses and the like required thereby. Notwithstanding the foregoing, Tenant shall not be obligated to make structural repairs or alterations to the Premises in order to comply with any Laws
unless the need for such repairs or alterations arises from (i) the specific manner and nature of Tenant’s use or occupancy of the Premises, as distinguished from mere general office use, (ii) the manner of conduct of Tenant’s
business or operation of its installations, equipment or other property therein, (iii) any cause or condition created by or at the instance of the Tenant, including, without limitation, the performance of Tenant’s Work and/or any
other Alterations made by Tenant (other than the performance of the Landlord’s Work), or (iv) a breach by Tenant of any provisions of this Lease. Any of the foregoing conditions caused by any employee, agent, contractor, or subtenant of
Tenant or any other party claiming by, through, or under Tenant shall be attributable to Tenant for purposes of this Lease. 

(c)    If repairs are required to be made by Tenant pursuant to the terms hereof, and Tenant fails to make the repairs,
upon not less than ten (10) days’ prior written notice (except that no notice shall be required in the event of an emergency), Landlord may make or cause such repairs to be 

  
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made (but shall not be required to do so), and the provisions of Section 14.4 shall be applicable to the costs thereof. Landlord shall not be responsible to Tenant for
any loss or damage whatsoever that may accrue to Tenant’s stock or business by reason of Landlord’s making such repairs. 

7.3    Floor Load - Heavy Machinery. 

(a)    Tenant shall not place a load upon any floor in the Premises exceeding the load it was designed to carry, or such
lower limit as may be proscribed by applicable Law. Landlord reserves the right to prescribe the weight and position of all business machines and mechanical equipment, including safes, which shall be placed so as to distribute the weight. Business
machines and mechanical equipment shall be placed and maintained by Tenant at Tenant’s expense in settings sufficient, in Landlord’s reasonable judgment, to absorb and prevent vibration, noise and annoyance. Tenant shall not move any safe,
heavy machinery, heavy equipment, freight, bulky matter or fixtures into or out of the Building without Landlord’s prior consent, which shall not be unreasonably withheld, conditioned, or delayed, provided that such consent may include a
requirement to provide insurance, naming Landlord as an insured, in such amounts as Landlord may deem reasonable. 

(b)    If any such safe, machinery, equipment, freight, bulky matter or fixtures requires special handling, Tenant agrees
to employ only persons holding a Master Rigger’s license to do such work, and that all work in connection therewith shall comply with applicable Laws. Any such moving shall be at the sole risk and hazard of Tenant, and Tenant will exonerate,
indemnify and save Landlord harmless against and from any liability, loss, injury, claim or suit resulting directly or indirectly from such moving. 

7.4    Utility Services. 

(a)    Electricity. Electricity furnished to the Premises shall be measured by a separate meter (the
“Electric Meter”). Tenant shall place the Electric Meter in Tenant’s name as of the Commencement Date and pay the electric utility provider for all electricity used by Tenant in the Premises based on such utility
provider’s reading of the Electric Meter serving the Premises prior to delinquency. Upon request of Landlord, Tenant shall provide evidence of payment for such electrical service. Tenant’s use of electrical services furnished to the
Premises shall not overburden or adversely affect the Building’s electric system. 
 (b)    Gas. Gas
furnished to the Premises shall be measured by a separate meter (the “Gas Meter”). Tenant shall place the Gas Meter in Tenant’s name as of the Commencement Date and pay the gas utility provider for all gas consumed by
Tenant in the Premises based on such utility provider’s reading of the Gas Meter serving the Premises prior to delinquency. Upon request of Landlord, Tenant shall provide evidence of payment for such gas service. 

(c)    Other Utilities. Any utilities (other than electricity and gas, which shall be paid for in accordance with
Section 7.4(b) and Section 7.4(c) above) which are furnished directly to the Premises by a utility provider and separately metered to the Premises shall be registered in Tenant’s name as of
the Commencement Date and Tenant shall arrange for the utility bills to be sent directly to and paid by Tenant. Upon request of Landlord, Tenant shall provide evidence of payment with respect to any separately metered utilities. Any utilities
(other than electricity and gas, which shall be paid for in accordance with Section 7.4(b) and Section 7.4(c) above) which are sub-metered or check metered
to the Premises shall payable by Tenant to Landlord as Additional Rent within thirty (30) days after billing based on readings of such sub-meters or check meters at intervals determined by
Landlord. Costs of utilities provided to the Common Areas shall be included in Operating Expenses. 

  
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 7.5    Other Services. 

(a)    Landlord shall provide tempered water for lavatory purposes and cold water (at temperatures supplied by the city in
which the Property is located) for drinking, lavatory and toilet purposes. Such water shall be made available from the main connection point for such service on the floor on which the Premises is located and the distribution of water within the
Premises shall be provided by Tenant. Landlord shall install a water meter and thereby measure Tenant’s water consumption within the Premises for all purposes. Tenant agrees to pay for water consumed, as shown on such meter, together with the
sewer charge based on such meter charges, as and when bills are rendered, and in the event Tenant fails timely to make any such payment, Landlord may pay such charges and collect the same from Tenant upon demand as Additional Rent. 

(b)    Landlord shall provide access to the Premises at all times, subject to reasonable security and safety precautions
from time to time in effect, if any, and subject always to restrictions based on emergency conditions. 

(c)    Landlord may from time to time, but shall not be obligated to, provide one or more attendants in or about the
Building and/or the Property, and the costs of such services shall constitute Operating Expenses in accordance with the provisions of Article 9 hereof. Tenant expressly acknowledges and agrees that, if provided:
(i) such attendants shall not serve as police officers, and will be unarmed, and will not be trained in situations involving potentially physical confrontation; and (ii) such attendants will be solely an amenity to tenants of the Building
for purposes such as assisting visitors and invitees of tenants and others in the Building, monitoring fire control and alarm equipment, and summoning emergency services to the Building as and when needed, and not for the purpose of securing any
individual tenant premises or guaranteeing the physical safety of Tenant’s Premises or of Tenant’s employees, agents, contractors or invitees. If and to the extent that Tenant desires to provide security for the Premises or for such
persons or their property, Tenant shall be responsible for so doing, after having first consulted with Landlord and after obtaining Landlord’s consent, which shall not be unreasonably withheld. Landlord expressly disclaims any and all
responsibility and/or liability for the physical safety of Tenant’s property, and for that of Tenant’s employees, agents, contractors and invitees, and, without in any way limiting the operation of Article 10
hereof, Tenant, for itself and its agents, contractors, invitees and employees, hereby expressly waives any claim, action, cause of action or other right which may accrue or arise as a result of any damage or injury to the person or property of
Tenant or any such agent, invitee, contractor or employee. Tenant agrees that, as between Landlord and Tenant, it is Tenant’s responsibility to advise its employees, agents, contractors and invitees as to necessary and appropriate safety
precautions. 
 (d)    Landlord shall provide snow removal services for the purpose of removing and/or plowing snow and
ice from the parking areas, driveways and walkways on the Property. 
 (e)    Landlord shall provide landscaping
services for the purposes of keeping and maintaining all landscaped areas at the Building in a neat and orderly condition. 

7.6    Interruption of Service. 

(a)    Landlord reserves the right to curtail, suspend, interrupt and/or stop the supply of water, sewage, electrical
current, cleaning, and other services, and to curtail, suspend, interrupt and/or stop use of entrances and/or lobbies serving access to the Building, or other portions of the Property, without thereby incurring any liability to Tenant, when
necessary by reason of accident or emergency, or for repairs, alterations, replacements or improvements in the judgment of Landlord reasonably exercised desirable or necessary, or when prevented from supplying such services or use due to any act or
neglect of 

  
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Tenant or Tenant’s agents employees, contractors or invitees or any person claiming by, through or under Tenant or by Force Majeure, including, but not limited to, strikes, lockouts,
difficulty in obtaining materials, accidents, laws or orders, or inability, by exercise of reasonable diligence, to obtain electricity, water, gas, steam, coal, oil or other suitable fuel or power. No diminution or abatement of rent or other
compensation, nor any direct, indirect or consequential damages shall or will be claimed by Tenant as a result of, nor shall this Lease or any of the obligations of Tenant be affected or reduced by reason of, any such interruption, curtailment,
suspension or stoppage in the furnishing of the foregoing services or use, irrespective of the cause thereof. The failure or omission on the part of Landlord to furnish any of the foregoing services or use as provided in this paragraph shall not be
construed as an eviction of Tenant, actual or constructive, nor entitle Tenant to an abatement of rent, nor to render the Landlord liable in damages, nor release Tenant from prompt fulfillment of any of its covenants under this Lease. 

(b)    Notwithstanding the foregoing, or any provision of this Lease to the contrary, if (i) a curtailment,
suspension, interruption and/or stoppage of an Essential Service (as hereinafter defined) shall occur, except any of the same due to any act or neglect of Tenant or Tenant Party or any person claiming by, through or under Tenant (any such
interruption of an Essential Service being hereinafter referred to as a “Service Interruption”), (ii) such Service Interruption occurs or continues as a result of the negligence or willful misconduct of Landlord or
Landlord’s agents, servants, employees or contractors, (iii) such Service Interruption continues for more than five (5) consecutive Business Days after Landlord shall have received written notice thereof from Tenant, and (iv) as
a result of such Service Interruption, the conduct of Tenant’s normal business operations in the Premises are materially and adversely affected, then there shall be an abatement of one day’s Basic Rent and Additional Rent, for each day
during which such Service Interruption continues after such five (5) Business Day period; provided, however, that if any part of the Premises is reasonably useable for Tenant’s normal business operations or if Tenant conducts all or any
part of its business operations in any part of the Premises notwithstanding such Service Interruption, then the amount of each daily abatement of Basic Rent and Additional Rent, shall only be proportionate to the nature and extent of the
interruption of Tenant’s normal business operations or ability to use the Premises. The rights granted to Tenant under this Section 7.6(b) shall be Tenant’s sole and exclusive remedy resulting from a failure
of Landlord to provide services, and Landlord shall not otherwise be liable for any loss or damage suffered or sustained by Tenant resulting from any failure or cessation of services. For purposes hereof, the term “Essential
Services” shall mean the following services: access to the Premises, water and sewer/septic service and electricity, air conditioning and heating, but only to the extent that Landlord has an obligation to provide same to Tenant under this
Lease. Any abatement of Basic Rent and Additional Rent hereunder shall apply only with respect to Basic Rent and Additional Rent allocable to the period after each of the conditions set forth in clauses (i) through (iv) above shall
have been satisfied and only during such times as each of such conditions shall exist. 
 ARTICLE 8 

REAL ESTATE TAXES 

8.1    Payments on Account of Real Estate Taxes. 

(a)    “Tax Year” shall mean a twelve-month period commencing on
July 1 and falling wholly or partially within the Term, and “Taxes” shall mean (i) all taxes, assessments (special or otherwise), levies, fees and all other government levies, exactions and charges of every kind and
nature, general and special, ordinary and extraordinary, foreseen and unforeseen, which are, at any time prior to or during the Term, imposed or levied upon or assessed against the Property or any portion thereof, or against any Basic Rent,
Additional Rent or other rent of any kind or nature payable to Landlord by anyone on account of the ownership, leasing or operation of the Property, or which arise on account of or 

  
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in respect of the ownership, development, leasing, operation or use of the Property or any portion thereof; (ii) all gross receipts taxes or similar taxes imposed or levied upon, assessed
against or measured by any Basic Rent, Additional Rent or other rent of any kind or nature or other sum payable to Landlord by anyone on account of the ownership, development, leasing, operation, or use of the Property or any portion thereof;
(iii) all value added, use and similar taxes at any time levied, assessed or payable on account of the ownership, development, leasing, operation, or use of the Property or any portion thereof; and (iv) reasonable expenses of any
proceeding for abatement of any of the foregoing items included in Taxes; but the amount of special taxes or special assessments included in Taxes shall be limited to the amount of the installment (plus any interest, other than penalty interest,
payable thereon) of such special tax or special assessment required to be paid during the year in respect of which such Taxes are being determined. Notwithstanding the foregoing, there shall be excluded from Taxes all income, estate, succession,
inheritance and transfer taxes of Landlord; provided, however, that if at any time during the Term, the present system of ad valorem taxation of real property shall be changed so that a capital levy, franchise, income, profits, sales, rental, use
and occupancy, or other new or additional tax or charge shall in whole or in part be substituted for, or added to, such ad valorem tax and levied against, or be payable by, Landlord with respect to the Property or any portion thereof, such tax or
charge shall be included in the term “Taxes” for the purposes of this Article. 
 (b)    For each Tax
Year during the Term, commencing on the Rent Commencement Date, Tenant shall pay to Landlord, as Additional Rent, Tenant’s Proportionate Share of Taxes, such amount to be apportioned for any portion of a Tax Year in which the Commencement Date
falls or the Term expires. 
 (c)    Estimated payments by Tenant on account of Taxes shall be made on the first day of
each and every calendar month during the Term of this Lease, in the fashion herein provided for the payment of Basic Rent. The monthly amount so to be paid to Landlord shall be sufficient to provide Landlord by the time real estate tax payments are
due with a sum equal to Tenant’s required payment, as reasonably estimated by Landlord from time to time, on account of Taxes for the then current Tax Year. Promptly after receipt by Landlord of bills for such Taxes, Landlord shall advise
Tenant of the amount thereof and the computation of Tenant’s payment on account thereof. If estimated payments theretofore made by Tenant for the Tax Year covered by such bills exceed the required payment on account thereof for such Tax Year,
Landlord shall credit the amount of overpayment against subsequent obligations of Tenant on account of Taxes (or promptly refund such overpayment if the Term of this Lease has ended and Tenant has no further obligation to Landlord); but if the
required payments on account thereof for such Tax Year are greater than estimated payments theretofore made on account thereof for such Tax Year, Tenant shall pay the difference to Landlord within thirty (30) days after being so advised by
Landlord, and the obligation to make such payment for any period within the Term shall survive expiration of the Term. 

8.2    Abatement. If Landlord shall receive any tax refund or reimbursement of Taxes or sum in
lieu thereof with respect to any Tax Year all or any portion of which falls within the Term, then out of any balance remaining thereof after deducting Landlord’s expenses in obtaining such refund, Landlord shall, provided there does not then
exist an Event of Default, credit an amount equal to such refund or reimbursement or sum in lieu thereof (exclusive of any interest, and apportioned if such refund is for a Tax Year a portion of which falls outside the Term), multiplied by
Tenant’s Proportionate Share, against the monthly installment(s) of Additional Rent next due under this Lease (or refund such amount to Tenant if the Term has ended and Tenant has no further obligations to Landlord); provided, that in no event
shall Tenant be entitled to a credit in excess of the payments made by Tenant on account of Taxes for such Tax Year pursuant to paragraph (b) of Section 8.1. 

  
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 ARTICLE 9 

OPERATING EXPENSES 

9.1    Definitions. “Operating Year” shall mean each calendar year all or any part
of which falls within the Term, and “Operating Expenses” shall mean the aggregate costs and expenses incurred by Landlord with respect to the operation, administration, cleaning, insuring, repair, maintenance and management of the
Property, including, without limitation, the costs and expenses set forth in Exhibit E attached hereto; provided that if during any portion of the Operating Year for which Operating Expenses are being
computed, less than all of the Buildings were occupied by tenants or Landlord was not supplying all tenants with the services being supplied under this Lease, actual Operating Expenses incurred shall be extrapolated reasonably by Landlord on an item
by item basis to the estimated Operating Expenses that would have been incurred if the Buildings were fully occupied for such Operating Year and such services were being supplied to all tenants, and such extrapolated amount shall, for the purposes
hereof, be deemed to be the Operating Expenses for such Operating Year. In addition to the foregoing, and notwithstanding anything to the contrary contained in this Lease, Landlord reserves the right to allocate costs for services provided to some,
but not all, tenants in the Buildings among those tenants utilizing such service on such basis as Landlord may reasonably determine from time to time. 

9.2    Tenant’s Payment of Operating Expenses. 

(a)    For each Operating Year during the Term, commencing on the Rent Commencement Date, Tenant shall pay to Landlord, as
Additional Rent, Tenant’s Proportionate Share of Operating Expenses, such amount to be apportioned for any portion of an Operating Year in which the Commencement Date falls or the Term of this Lease ends. Notwithstanding the foregoing, with
respect to any Operating Expenses that relate to a repair, replacement, or service that solely benefits the Building, Tenant shall pay to Landlord, as an Operating Expense/Tax Charge, Tenant’s Building Share of such Operating Expenses. 

(b)    Estimated payments by Tenant on account of Operating Expenses shall be made on the first day of each and every
calendar month during the Term of this Lease, in the fashion herein provided for the payment of Basic Rent. The monthly amount so to be paid to Landlord shall be sufficient to provide Landlord by the end of each Operating Year a sum equal to
Tenant’s required payment, as reasonably estimated by Landlord from time to time during each Operating Year, on account of Operating Expenses for such Operating Year. After the end of each Operating Year, Landlord shall submit to Tenant a
reasonably detailed accounting of Operating Expenses for such Operating Year, and Landlord shall certify to the accuracy thereof. If estimated payments theretofore made for such Operating Year by Tenant exceed Tenant’s required payment on
account thereof for such Operating Year according to such statement, Landlord shall credit the amount of overpayment against subsequent obligations of Tenant with respect to Operating Expenses (or promptly refund such overpayment if the Term of this
Lease has ended and Tenant has no further obligation to Landlord); but if the required payments on account thereof for such Operating Year are greater than the estimated payments (if any) theretofore made on account thereof for such Operating Year,
Tenant shall make payment to Landlord within thirty (30) days after being so advised by Landlord, and the obligation to make such payment for any period within the Term shall survive expiration of the Term. 

(c)    Any such accounting by Landlord shall be binding and conclusive upon Tenant unless within sixty (60) days
after the giving by Landlord of such accounting Tenant shall notify Landlord that Tenant disputes the correctness of such accounting, specifying the particular respects in which the accounting is claimed to be incorrect. If Tenant timely sends a
notice to Landlord disputing the accounting received from Landlord, Tenant may, at Tenant’s sole cost and expense, undertake an audit of such of Landlord’s books as are directly relevant to the Operating Expense accounting for the
Operating 

  
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Year in question, provided and on condition that (i) there is then no uncured Event of Default under this Lease, (ii) Tenant has made all payments of Additional Rent billed or invoiced
by Landlord as of the date of the audit, (iii) the audit is performed only by Tenant’s employees, internal accounting department or an independent certified public accounting firm reasonably approved by Landlord and whose fee or other
compensation is fixed by contract and is in no manner computed or determined based upon the results of the audit, (iv) both Tenant and its examiners execute and deliver to Landlord a confidentiality agreement in form and substance reasonably
acceptable to Landlord whereby such parties expressly agree to maintain the results of such audit in strict confidence, and (v) such audit is commenced and completed and the results thereof delivered to Landlord within sixty (60) days
following the date Landlord makes its books available to Tenant. If Tenant fails to timely deliver a dispute notice to Landlord, or fails to complete its audit and deliver the results thereof to Landlord within the applicable sixty (60) day
period, then, in either of such events, Landlord’s accounting shall be binding and conclusive upon Tenant for all purposes of this Lease. If it is finally determined or mutually agreed that Landlord has overstated Tenant’s share of excess
Operating Expenses, Landlord shall credit the amount of such overstatement against the monthly installments of Additional Rent next due under this Lease (or refund such amount to Tenant if the Term has ended and Tenant has no further obligations to
Landlord under this Lease). If the audit demonstrates that Landlord has not overstated Tenant’s Proportionate Share of Operating Expenses, then Landlord may invoice Tenant for any amount by which Tenant’s Proportionate Share of Operating
Expenses under this Section 9.2 was understated, which invoice shall be payable by Tenant within thirty (30) days after receipt. If Tenant’s audit determines that Landlord has overcharged Tenant for Operating
Expenses by more than six percent (6%), then Landlord, at its sole cost and expense, shall promptly pay for the cost of Tenant’s audit, up to a total cost of $5,000.00, and shall promptly reimburse Tenant for any such overcharges. 

ARTICLE 10 
 INDEMNITY
AND PUBLIC LIABILITY INSURANCE 
 10.1    Tenant’s
Indemnity. Except to the extent arising from the negligence or willful misconduct of Landlord or its agents or employees, Tenant shall defend with counsel first approved by Landlord, save harmless, and indemnify Landlord and Landlord’s
managing agent, beneficiaries, partners, members, shareholders, subsidiaries, officers, directors, agents, trustees and employees (“Landlord Parties”) from and against all claims, losses, cost, damages, any liability or expense of
whatever nature arising from injury, loss, accident or damage to any person or property, arising from or claimed to have arisen (a) from any accident, injury or damage whatsoever to any person, or to the property of any person, occurring in or
about the Premises; (b) from the willful act, negligence or other misconduct of Tenant or Tenant’s agents, employees, contractors, licensees or invitees, (c) in connection with Tenant’s use of the Premises or any business
conducted therein or any work done or condition created in the Premises by Tenant, its agent, employees or contractors, or anyone claiming by, through or under Tenant, or (d) the failure of Tenant to perform and discharge its covenants and
obligations under this Lease and, in any case, occurring after the Commencement Date (or such earlier date as of which Tenant takes possession of the Premises) until the expiration of the Term of this Lease and thereafter so long as Tenant is in
occupancy of any part of the Premises. This indemnity and hold harmless agreement shall include indemnity against all losses, costs, damages, expenses and liabilities incurred in or in connection with any such claim or any proceeding brought
thereon, and the defense thereof, including, without limitation, reasonable attorneys’ fees and costs at both the trial and appellate levels. The provisions of this Section 10.1 shall survive the expiration or earlier
termination of this Lease. 

  
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 10.2    Tenant Insurance. 

(a)    Tenant agrees to maintain, at Tenant’s expense, in full force from the date upon which Tenant first enters the
Premises for any reason, throughout the Term of this Lease, and thereafter so long as Tenant is in occupancy of any part of the Premises, (a) a policy of commercial general liability and property damage insurance (including broad form
contractual liability, independent contractor’s hazard and completed operations coverage) in at least the amounts of the Initial General Liability Insurance specified in Section 1.1 or such greater amounts as Landlord
in its reasonable discretion determines are required by the prudent owners of comparable properties in the area or as are required by any Superior Mortgagee, under which Tenant is named as an insured and Landlord, and, at Landlord’s request,
Landlord’s property manager, any Superior Mortgagee and Superior Lessor, and such other persons as Landlord reasonably may request are named as additional insureds, (b) special form (formerly known as
“all-risk”) property insurance on a “replacement cost” basis, insuring Tenant’s Removable Property and any alterations, additions and improvements located from time to time in the
Premises, whether made by Tenant pursuant to Article 5 or otherwise existing in the Premises as of the Commencement Date (such alterations, additions and improvements collectively the “Improvements”), (c)
workers’ compensation insurance with statutory limits, (d) employer’s liability insurance with the following limits: bodily injury by disease per person One Million Dollars ($1,000,000); bodily injury by accident policy limit One
Million Dollars ($1,000,000); bodily injury by disease policy limit One Million Dollars ($1,000,000), (e) business automobile liability insurance including owned, hired and non-owned automobiles, in an amount
not less than One Million Dollars ($1,000,000) combined single limit per occurrence, with such commercially reasonable increases as Landlord may require from time to time, and (f) business interruption insurance insuring interruption or
stoppage of Tenant’s business at the Premises for a period of not less than twelve (12) months. 

(b)    Pollution Legal Liability insurance shall be required if Tenant stores, handles, generates or treats Hazardous
Materials on or about the Premises. Such coverage shall include bodily injury, sickness, disease, death or mental anguish or shock sustained by any person; property damage including physical injury to or destruction of tangible property including
the resulting loss of use thereof, cleanup costs, and the loss of use of tangible property that has not been physically injured or destroyed; and defense costs, charges and expenses incurred in the investigation, adjustment or defense of claims for
such compensatory damages. Such coverage shall apply to both sudden and non-sudden pollution conditions including the discharge, dispersal, release or escape of smoke, vapors, soot, fumes, acids, alkalis,
toxic chemicals, liquids or gases, waste materials or other irritants, contaminants or pollutants into or upon land, the atmosphere or any watercourse or body of water. Such insurance shall be in at least the amounts of the Initial General Liability
Insurance specified in Section 1.1 or such greater amounts as Landlord in its reasonable discretion determines are required by the prudent owners of comparable properties in the area or as are required by any Superior Mortgagee. 

(c)    Tenant may satisfy such insurance requirements by including the Premises in a
so-called “blanket” and/or “umbrella” insurance policy, provided that the amount of coverage allocated to the Premises is pursuant to a “per location” endorsement shall fulfill
the requirements set forth herein. Tenant’s insurance shall be primary to, and not contributory with any insurance carried by Landlord, whose insurance shall be considered excess only. Each policy required hereunder shall be non-cancelable and non-amendable with respect to Landlord and Landlord’s said designees without thirty (30) days’ prior notice. The policies of insurance
required to be maintained by Tenant hereunder shall be issued by companies domiciled in the United States and qualified and licensed to conduct business in the state in which the Property is located, and shall be rated A:VIII or better in the most
current issue of Best’s Key Rating Guide (or any successor thereto). At all times during the Term, such insurance shall be maintained, and Tenant shall cause a current and valid certificate of such policies to be deposited with Landlord. If
Tenant fails to have a current and valid certificate of such policies on deposit with Landlord at all times during the Term and such failure is not cured within three (3) Business Days following Tenant’s receipt of notice thereof from
Landlord, Landlord shall have the right, but not the obligation, to 

  
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obtain such an insurance policy, and Tenant shall be obligated to pay Landlord the amount of the premiums applicable to such insurance within ten (10) days after Tenant’s receipt of
Landlord’s request for payment thereof. Tenant’s insurance policies shall not include deductibles in excess of Ten Thousand Dollars ($10,000.00). 

10.3    Tenant’s Risk. Tenant agrees to use and occupy the Premises
and to use such other portions of the Property as Tenant is herein given the right to use at Tenant’s own risk. Landlord shall not be liable to Tenant, its employees, agents, invitees or contractors for any damage, injury, loss, compensation,
or claim (including, but not limited to, claims for the interruption of or loss to Tenant’s business) based on, arising out of or resulting from any cause whatsoever, including, but not limited to, repairs to any portion of the Premises or the
Property, any fire, robbery, theft, mysterious disappearance and/or any other crime or casualty, the actions of any other tenants of the Building or of any other person or persons, or any leakage in any part or portion of the Premises or the
Building, or from water, rain or snow that may leak into, or flow from any part of the Premises or the Building, or from drains, pipes or plumbing fixtures in the Building, unless due to the negligence or willful misconduct of Landlord or
Landlord’s agents, contractors or employees. Any goods, property or personal effects stored or placed in or about the Premises shall be at the sole risk of Tenant, and neither Landlord nor Landlord’s insurers shall in any manner be held
responsible therefor. Landlord shall not be responsible or liable to Tenant, or to those claiming by, through or under Tenant, for any loss or damage that may be occasioned by or through the acts or omissions of persons occupying adjoining premises
or any part of the premises adjacent to or connecting with the Premises or any part of the Property or otherwise. Notwithstanding the foregoing, subject, however, to Section 10.5, Landlord shall not be released from
liability for any injury, loss, damages or liability to the extent arising from any negligence or willful misconduct of Landlord, its servants, employees or agents acting within the scope of their authority on or about the Premises; provided,
however, that in no event shall Landlord, its servants, employees or agents have any liability to Tenant based on any loss with respect to or interruption in the operation of Tenant’s business. The provisions of this
Section 10.3 shall be applicable from and after the execution of this Lease and until the end of the Term of this Lease, and during any additional period as Tenant may use or be in occupancy of any part of the Premises or
of the Building. 
 10.4    Landlord’s Insurance. Landlord shall
maintain, as a part of Operating Expenses, special form property insurance on the Building in the amount of the full replacement value thereof and subject to such deductibles as Landlord may reasonably determine. Such insurance shall be maintained
with an insurance company selected by Landlord or a Superior Mortgagee, and payment for losses thereunder shall be made solely to Landlord subject to the rights of the Superior Mortgagee from time to time. Additionally, Landlord may maintain such
additional insurance, including, without limitation, earthquake insurance, terrorism insurance, flood insurance, liability insurance and/or rent insurance, as Landlord may in its sole discretion elect. The cost of all such additional insurance shall
also be part of the Operating Expenses. Any or all of Landlord’s insurance may be provided by blanket coverage maintained by Landlord or any affiliate of Landlord under its insurance program for its portfolio of properties or by Landlord’s
or any affiliate of Landlord’s program of self-insurance, and in such event Operating Expenses shall include the portion of the reasonable cost of blanket insurance or self-insurance that is allocated to the Building. 

10.5    Waiver of Subrogation. Notwithstanding anything herein to the contrary, Landlord and Tenant
each hereby waives and releases any and all rights of recovery, claim, action, or cause of action against the other, its agents, employees, licensees, or invitees for any loss or damage to or at the Premises or the Property or any personal property
of such party therein or thereon by reason of fire, the elements, or any other cause which is covered, or would have been covered, by the insurance coverages required to be maintained by Landlord and Tenant, respectively, under this Lease,
regardless of cause or origin, including omission of the other party hereto, its agents, employees, licensees, or invitees. 

  
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Landlord and Tenant covenant that no insurer shall hold any right of subrogation against either of such parties with respect thereto. The parties hereto agree that any and all such insurance
policies required to be carried by either shall be endorsed with a subrogation clause, substantially as follows: “This insurance shall not be invalidated should the insured waive, in writing prior to a loss, any and all right of recovery
against any party for loss occurring to the Project described therein,” and shall provide that such party’s insurer waives any right of recovery against the other party in connection with any such loss or damage. 

ARTICLE 11 
 FIRE,
EMINENT DOMAIN, ETC. 
 11.1    Landlord’s Right of
Termination. If the Premises or the Buildings are substantially damaged (the term “substantially damaged” meaning damage of such a character that the same cannot, in the ordinary course, reasonably be expected to be repaired within
one hundred eighty (180) days from the time that repair work would commence) by fire or other casualty (each, a “Casualty”), then Landlord shall have the right to terminate this Lease by giving notice of Landlord’s
election so to do within ninety (90) days after the occurrence of such Casualty, whereupon this Lease shall terminate thirty (30) days after the date of such notice with the same force and effect as if such date were the date originally
established as the expiration date hereof. In no event shall Landlord have any liability for damages to Tenant for inconvenience, annoyance or interruption of business arising from any Casualty. 

11.2    Restoration; Tenant’s Right of Termination 

(a)    If the Building or the Premises shall be partially or totally damaged or destroyed by a Casualty and if this Lease
is not terminated as provided in this Article 11, then (i) Landlord shall repair and restore the Building and the Premises (but excluding Tenant’s Removable Property and the Improvements (“Landlord’s
Restoration Work”) with reasonable dispatch (but Landlord shall not be required to perform the same on an overtime or premium pay basis)) after notice to Landlord of the Casualty and the collection of the insurance proceeds attributable to
such Casualty, and (ii) Tenant shall repair and restore in accordance with Section 5.2 all of Tenant’s Removable Property and the Improvements (“Tenant’s Restoration Work”) with reasonable
dispatch after the Casualty. Notwithstanding anything to the contrary contained herein, if in Landlord’s sole discretion it would be appropriate for safety reasons, health reasons or the efficient operation or restoration of the Building or the
Premises for Landlord to perform all or a portion of Tenant’s Restoration Work with respect to the Improvements on behalf of Tenant, then (x) Landlord shall give Tenant a written notice specifying the portion of Tenant’s Restoration
Work with respect to the Improvements to be performed by Landlord (the “Specified Restoration Work”), (y) Landlord shall perform the Specified Restoration Work, and (z) Tenant shall pay to Landlord within thirty (30) days
following the giving of Landlord’s written demand therefor the proceeds received by Tenant with respect to such Specified Restoration Work. 

(b)    Intentionally deleted. 

(c)    Landlord shall not carry any insurance on Tenant’s Removable Property or on the Improvements (including
without limitation any Landlord’s Work performed in connection with this Lease) that constitute part of Tenant’s Restoration Work and shall not be obligated to repair or replace Tenant’s Removable Property or such Improvements
(whether or not installed by or at the expense of Landlord). Tenant shall look solely to its insurance for recovery of any damage to or loss of Tenant’s Removable Property and any Improvements. Tenant shall notify Landlord promptly of any
casualty in the Premises. In the event of a partial or total destruction of the Premises, Tenant shall as soon as practicable (but no later than five (5) Business Days after receiving a notice from Landlord) remove any and all of Tenant’s
Removable Property from the Premises or the portion thereof destroyed, as the case 

  
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 may be, and if Tenant does not promptly so remove Tenant’s Removable Property, Landlord, at
Tenant’s expense, may discard the same or may remove Tenant’s Removable Property to a public warehouse for deposit or retain the same in its own possession and at its discretion may sell the same at either public auction or private sale,
the proceeds of which shall be applied first to the expenses of removal, storage and sale, second to any sums owed by Tenant to Landlord, with any balance remaining to the paid to Tenant; if the expenses of such removal, storage and sale shall
exceed the proceeds of any sale, Tenant shall pay such excess to Landlord upon demand. Tenant shall be solely responsible for arranging for any visits to the Premises by Tenant’s insurance adjuster that may be desired by Tenant prior to the
removal of Tenant’s Removable Property by Tenant or Landlord, as provided in this Section 11.2(c), or the performance by Landlord of Landlord’s Restoration Work or the Specified Restoration Work and Landlord shall
be under no obligation to delay the performance of same, nor shall Landlord have any liability to Tenant in the event that Tenant fails to do so. Tenant shall promptly permit Landlord access to the Premises for the purpose of performing
Landlord’s Restoration Work and, if applicable, the Specified Restoration Work. 
 (d)    Within ninety
(90) days after the occurrence of any Casualty affecting the Premises, Landlord shall deliver to Tenant a written estimate from a reputable contractor, architect or engineer designated by Landlord as to the probable length of time that will be
necessary to substantially complete Landlord’s Restoration Work. If such time estimate exceeds two hundred seventy (270) days from the date that repair work would commence, or if such repairs are not in fact completed within such two
hundred seventy (270) day period, Tenant shall have the right to terminate this Lease by giving notice to Landlord thereof within thirty (30) days after receipt of such estimate or at any time between the two hundred seventieth (270th) day after the commencement of the Landlord’s Restoration Work and the substantial completion of the Landlord’s Restoration Work, as the case may be (time being of the essence with respect
to the giving of such notice by Tenant). If Tenant is entitled pursuant to the terms of this Section 11.2(d) to terminate this Lease and Tenant fails to deliver a termination notice to Landlord within the applicable period
set forth herein, Tenant will be deemed to have waived Tenant’s rights under this Section 11.2(d) to terminate the Lease on account of such Casualty. The provisions of this Section are in lieu of any statutory
termination provisions allowable in the event of a Casualty. 
 (e)    If this Lease is terminated under any of the
provisions of this Article XI as a result of a Casualty, Landlord shall be entitled to retain for its benefit the proceeds of insurance maintained by Tenant on the Improvements. This Section 11.2
shall be deemed an express agreement governing any damage or destruction of the Premises by fire or other casualty, and any law providing for a contingency in the absence of an express agreement, now or hereafter in force, shall have no application.

 11.3    Abatement of Rent. If the Premises is damaged by a Casualty, Basic Rent and Additional
Rent payable by Tenant shall abate proportionately based upon the extent to which Tenant’s use of the Premises is diminished for the period from the date of such Casualty until the date that Landlord substantially completes Landlord’s
Restoration Work. Landlord’s determination of the date Landlord’s Restoration Work to the Premises shall have been substantially completed shall be controlling unless Tenant disputes same by notice to Landlord given within ten
(10) days after such determination by Landlord, and pending resolution of such dispute, Tenant shall pay Basic Rent and Additional Rent in accordance with Landlord’s determination. 

11.4    Eminent Domain 

(a)    If the Premises shall be affected by any exercise of the power of eminent domain, Basic Rent and Additional Rent
payable by Tenant shall be justly and equitably abated and reduced according to the nature and extent of the loss of use thereof suffered by Tenant. In no event shall Landlord have any liability for damages to Tenant for inconvenience, annoyance or
interruption of business arising from such exercise of the power of eminent domain. 

  
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 (b)    If any part of the Buildings are taken by any exercise of the
right of eminent domain, then Landlord shall have the right to terminate this Lease (even if Landlord’s entire interest in the Premises may have been divested) by giving notice of Landlord’s election so to do within ninety (90) days
after the occurrence of the effective date of such taking, whereupon this Lease shall terminate thirty (30) days after the date of such notice with the same force and effect as if such date were the date originally established for the
expiration of the Term of this Lease. 
 (c)    If this Lease shall not be terminated pursuant to
Section 11.4(b), Landlord shall thereafter use due diligence to restore the Premises (excluding any Alterations made by Tenant pursuant to Section 5.2) to proper condition for Tenant’s use and
occupation, provided that Landlord’s obligation shall be limited to the amount of compensation recoverable by Landlord from the taking authority. If, for any reason, such restoration shall not be substantially completed within six
(6) months after the expiration of the ninety (90) day period referred to in Section 11.4(b) (which six month period may be extended for such periods of time as Landlord is prevented from proceeding with or
completing such restoration for any cause beyond Landlord’s reasonable control, but in no event for more than an additional three (3) months), Tenant shall have the right to terminate this Lease by giving notice to Landlord thereof within
thirty (30) days after the expiration of such period (as so extended). Upon the giving of such notice, this Lease shall cease and come to an end thirty (30) days after the giving of such notice, without further liability or obligation on
the part of either party unless, within such thirty (30) day period, Landlord substantially completes such restoration. Such right of termination shall be Tenant’s sole and exclusive remedy at law or in equity for Landlord’s failure
so to complete such restoration. 
 (d)    Landlord shall have and hereby reserves and excepts, and Tenant hereby grants
and assigns to Landlord, all rights to recover for damages to the Property and the leasehold interest hereby created, and to compensation accrued or hereafter to accrue by reason of such taking, and by way of confirming the foregoing, Tenant hereby
grants and assigns, and covenants with Landlord to grant and assign to Landlord, all rights to such damages or compensation, and covenants to deliver such further assignments and assurances thereof as Landlord may from time to time request. Nothing
contained herein shall be construed to prevent Tenant from prosecuting in any condemnation proceedings a claim for the value of any of Tenant’s Removable Property installed in the Premises by Tenant at Tenant’s expense and for relocation
expenses, provided that such action shall not affect the amount of compensation otherwise recoverable by Landlord from the taking authority. 

ARTICLE 12 
 HOLDING
OVER; SURRENDER 
 12.1    Holding Over. If Tenant or anyone claiming by, through or under
Tenant shall remain in possession of all or any part of the Premises (which shall include a failure by Tenant to remove any Tenant’s Removable Property or Alterations which Landlord notified Tenant were to be removed at the expiration or
earlier termination of the Term) after the expiration or earlier termination of the Term of this Lease, such holding over shall be treated as a daily tenancy at sufferance at a Basic Rent equal to one hundred fifty percent (150%) of the Basic Rent
in effect for the last rental period of the Term plus Additional Rent and other amounts herein provided (prorated on a daily basis). In addition to any other liabilities to Landlord accruing therefrom, Tenant shall protect, defend, indemnify and
hold Landlord harmless from all loss, costs and damages, direct and/or indirect, sustained by reason of any such holding over, including, without limitation, claims made by and loss of any succeeding tenant arising out of such failure to timely
surrender possession in the condition required under this Lease. In all other respects, 

  
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such holding over shall be on the terms and conditions set forth in this Lease as far as applicable (and excluding any extension, expansion or rights of first offer of tenant) in the Lease.
Nothing contained in this Article 12 shall be construed as a consent by Landlord to any holding over by Tenant, and Landlord shall have the right to immediately terminate such holding over pursuant to applicable Law. The
provisions of this Article 12 shall not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided herein or at law. 

12.2    Surrender of Premises. 

(a)    At least thirty (30) days prior to Tenant’s surrender of possession of any part of the Premises, Tenant
shall provide Landlord with a facility decommissioning and Hazardous Materials closure plan for the Premises (“Exit Survey”) prepared by an independent third party state-certified professional with appropriate expertise, which Exit
Survey must be reasonably acceptable to Landlord. The Exit Survey shall comply with the American National Standards Institute’s Laboratory Decommissioning guidelines (ANSI/AIHA Z9.11-2008) or any
successor standards published by ANSI or any successor organization (or, if ANSI and its successors no longer exist, a similar entity publishing similar standards). In addition, at least ten (10) days prior to Tenant’s surrender of
possession of any part of the Premises, Tenant shall (i) provide Landlord with written evidence of all appropriate governmental releases obtained by Tenant in accordance with applicable Laws, including laws pertaining to the surrender of the
Premises, (ii) place Laboratory Equipment Decontamination Forms on all decommissioned equipment to assure safe occupancy by future users and (iii) conduct a site inspection with Landlord. In addition, Tenant agrees to remain responsible
after the surrender of the Premises for the remediation of any recognized Environmental Conditions set forth in the Exit Survey for which Tenant is responsible under this Lease and comply with any recommendations set forth in the Exit Survey to
extent Tenant would otherwise be responsible therefor hereunder. Tenant’s obligations under this Section shall survive the expiration or earlier termination of the Lease. 

(b)    In addition to the foregoing requirement, upon the expiration or earlier termination of the Term of this Lease,
Tenant shall promptly and peaceably quit and surrender to Landlord the Premises in neat and clean condition and in the order, condition and repair received and thereafter required to be maintained pursuant to this Lease, excepting only ordinary wear
and use and damage by fire or other casualty for which, under other provisions of this Lease, Tenant has no responsibility to repair or restore together with all Alterations which may have been made or installed in, on or to the Premises prior to or
during the Term of this Lease (except as otherwise required by Landlord pursuant to Section 5.2(e) above or as set forth in Section 5.2(g) above), and all attached equipment, decorations, fixtures,
laboratory casework and related appliances, trade fixtures, and additions and improvements attached to or built into the Premises made by either of the parties (including all floor and wall coverings; paneling; sinks and related plumbing fixtures;
laboratory benches; exterior venting fume hoods; walk-in freezers and refrigerators; ductwork; conduits; electrical panels and circuits; attached business and trade fixtures; attached machinery and equipment;
and built-in furniture and cabinets, in each case, together with all additions and accessories thereto) other than Tenant’s Removable Property. Tenant shall remove all of Tenant’s Removable Property,
all signs installed by or on behalf of Tenant in or on the Premises and the Building, all lines and other wiring and cabling installed by Tenant prior to or during the Term. For the avoidance of doubt, the items listed on Exhibit G attached
hereto (which Exhibit G may be updated by Tenant from and after the Term Commencement Date, subject to Landlord’s written consent provided that such consent shall not be unreasonably withheld, conditioned or delayed with respect to items
purchased and brought onto the Premises by Tenant after the Term Commencement Date) constitute Tenant’s Removable Property and shall be removed by Tenant upon the expiration or earlier termination of the Lease. 

  
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 (c)     Tenant shall repair any damage to the Premises or the Building
caused by such removal. Any Tenant’s Removable Property which shall remain in the Building or on the Premises after the expiration or termination of the Term of this Lease shall be deemed conclusively to have been abandoned, and either may be
retained by Landlord as its property or may be disposed of in such manner as Landlord may see fit, at Tenant’s sole cost and expense. 

ARTICLE 13 
 RIGHTS OF
MORTGAGEES; TRANSFER OF TITLE 
 13.1    Rights of Mortgagees or Ground Lessor. 

(a)    This Lease, and all rights of Tenant hereunder, are and shall be subject and subordinate to any ground or underlying
leases of the Property and to all renewals, extensions, modifications and replacements thereof, and to all mortgages, deeds of trust or similar encumbrances which may now or hereafter affect the Property, whether or not such mortgages or other
encumbrances shall also cover other lands and/or buildings, and to each and every advance made or hereafter to be made under such mortgages and other encumbrances, and to all renewals, modifications, replacements, extensions and consolidations of
such mortgages and other encumbrances. This Section shall be self-operative and no further instrument of subordination shall be required. In confirmation of such subordination, Tenant shall promptly execute, acknowledge and deliver any instrument
that Landlord, the lessor under any such lease or the holder of any such mortgage or other encumbrance or any of their respective successors in interest may reasonably request to evidence such subordination. Any lease to which this Lease is, at the
time referred to, subject and subordinate is herein called “Superior Lease” and the lessor of a Superior Lease or its successor in interest at the time referred to, is herein called “Superior Lessor”; and any
mortgage or other encumbrance to which this Lease is, at the time referred to, subject and subordinate, is herein called “Superior Mortgage” and the holder of a Superior Mortgage, or its successor in interest at the time referred
to, is herein called “Superior Mortgagee.” If any Superior Mortgagee, shall so elect, this Lease and the rights of Tenant hereunder, shall be superior in right to the rights of such holder, with the same force and effect as if this
Lease had been executed, delivered and recorded, or a statutory notice hereof recorded, prior to the execution, delivery and recording of any such Superior Mortgage. The election of any such Superior Mortgagee shall become effective upon either
notice from such Superior Mortgagee to Tenant in the same fashion as notices from Landlord to Tenant are to be given hereunder or by the recording in the appropriate registry or recorder’s office of an instrument in which the Superior Mortgagee
subordinates its rights under such Superior Mortgage to this Lease. Concurrently with the full execution and delivery of this Lease, Landlord shall deliver to Tenant and Tenant shall promptly execute, acknowledge and deliver the subordination, non-disturbance and attornment agreement from the current Superior Mortgagee (“SNDA”) attached hereto as Exhibit G. As to any future Superior Mortgage or Superior Lease, Landlord shall
obtain from such Superior Mortgagee or Superior Lessor an SNDA substantially comparable to the form attached hereto as Exhibit G. 

(b)    If any Superior Lessor or Superior Mortgagee or the nominee or designee of any Superior Lessor or Superior
Mortgagee shall succeed to the rights of Landlord under this Lease, whether through possession or foreclosure action or delivery of a new lease or deed, or otherwise, then at the request of such party so succeeding to Landlord’s rights (herein
called “Successor Landlord”), Tenant shall attorn to and recognize such Successor Landlord as Tenant’s landlord under this Lease and shall promptly execute and deliver any instrument that such Successor Landlord may reasonably
request to evidence such attornment. Upon such attornment, this Lease shall continue in full force and effect as a direct lease between the Successor Landlord and Tenant upon all of the terms, conditions and covenants as are set forth in this Lease,
except that the Successor Landlord shall not be (i) liable in any way to Tenant for any act or omission, neglect or default on the part of Landlord under this Lease other than any 

  
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default that remains continuing and uncured following such attornment, (ii) responsible for any monies owing by or on deposit with Landlord to the credit of Tenant, except to the extent that
such deposit has been transferred into the possession of Successor Landlord, (iii) subject to any counterclaim or setoff which theretofore accrued to Tenant against Landlord, (iv) bound by any modification of this Lease subsequent to such
Superior Lease or Superior Mortgage, or by any previous prepayment of fixed rent for more than one (1) month, which was not approved in writing by the Superior Lessor or the Superior Mortgagee thereto, (v) liable to the Tenant beyond the
Successor Landlord’s interest in the Property and the rents, income, receipts, revenues, issues and profits issuing from such Property, (vi) responsible for the performance of any work to be done by the Landlord under this Lease to render
the Premises ready for occupancy by the Tenant, (vii) liable for the payment of any improvement allowance or similar amount owing to Tenant on account of the performance of any alterations or leasehold improvements to the Premises or the
Building, or (viii) required to remove any person occupying the Premises or any part thereof, except if such person claims by, through or under the Successor Landlord. 

13.2    Assignment of Rents and Transfer of Title. 

(a)    With reference to any assignment by Landlord of Landlord’s interest in this Lease, or the rents payable
hereunder, conditional in nature or otherwise, which assignment is made to a Superior Mortgagee on property which includes the Premises, Tenant agrees that the execution thereof by Landlord, and the acceptance thereof by the Superior Mortgagee shall
never be treated as an assumption by the Superior Mortgagee of any of the obligations of Landlord hereunder unless the Superior Mortgagee shall, by notice sent to Tenant, specifically otherwise elect and, except as aforesaid, the Superior Mortgagee
shall be treated as having assumed Landlord’s obligations hereunder only upon foreclosure of the Superior Mortgage and the taking of possession of the Premises. 

(b)    In no event shall the acquisition of Landlord’s interest in the Property by a purchaser which, simultaneously
therewith, leases Landlord’s entire interest in the Property back to the seller thereof be treated as an assumption by operation of law or otherwise, of Landlord’s obligations hereunder, but Tenant shall look solely to such seller-lessee, and its successors from time to time in title, for performance of Landlord’s obligations hereunder. In any such event, this Lease shall be subject and subordinate to the lease to such purchaser.
For all purposes, such seller-lessee, and its successors in title, shall be the Landlord hereunder unless and until Landlord’s position shall have been assumed by such
purchaser-lessor. 
 (c)    Except as provided in
paragraph (b) of this Section, in the event of any transfer of title to the Property by Landlord, Landlord shall thereafter be entirely freed and relieved from the performance and observance of all covenants and obligations
hereunder. 
 13.3    Notice to Mortgagee. Tenant shall not seek to enforce any remedy it may have
for any default on the part of Landlord without first giving any Superior Mortgagee and Superior Lessor of which Tenant has been made aware by Landlord, as applicable, written notice by certified mail, return receipt requested, specifying the
default in reasonable detail, and affording such Superior Mortgagee and Superior Lessor, as applicable, (i) a reasonable opportunity to perform Landlord’s obligations hereunder (but not less than thirty (30) days), if such default can
be cured without such Superior Mortgagee or Superior Lessor, as applicable, taking possession of the mortgaged or leased estate, or (ii) time to obtain possession of the mortgaged or leased estate and then to cure such default of Landlord, if
such default cannot be cured without such Superior Mortgagee or Superior Lessor or taking possession of the mortgaged or leased estate. The curing of any of Landlord’s defaults by a Superior Mortgagee or Superior Lessor shall be treated as
performance by Landlord. 

  
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 ARTICLE 14 

DEFAULT; REMEDIES 

14.1    Tenant’s Default. 

(a)    If at any time subsequent to the date of this Lease any one or more of the following events (herein referred to as
an “Event of Default”) shall occur: 
 (i)    Tenant shall fail to pay the Basic Rent or
any other Additional Rent hereunder when due and such failure shall continue for five (5) Business Days after notice to Tenant from Landlord (except that such written notice shall not be required after a second (2nd) consecutive failure to pay such sums, with such third (3rd) consecutive failure constituting an Event of Default unless paid within five
(5) Business Days after the date due without need for an additional written notice); or 

(ii)    Tenant shall neglect or fail to perform or observe any other covenant herein contained on
Tenant’s part to be performed or observed and Tenant shall fail to remedy the same within thirty (30) days after notice to Tenant specifying such neglect or failure, or if such failure is of such a nature that Tenant cannot reasonably
remedy the same within such thirty (30) day period, Tenant shall fail to commence promptly (and in any event within such thirty (30) day period) to remedy the same and thereafter to diligently prosecute such remedy to completion with
diligence and continuity (and in any event, within ninety (90) days after the notice described in this subparagraph (ii)); or 

(iii)    Tenant’s leasehold interest in the Premises shall be taken on execution or by other process
of law directed against Tenant; or 
 (iv)    If Tenant or any guarantor of this Lease shall
(i) make an assignment for the benefit of creditors, (ii) acquiesce in a petition in any court in any bankruptcy, reorganization, composition, extension or insolvency proceedings, (iii) seek, consent to or acquiesce in the appointment
of any trustee, receiver or liquidator of Tenant or of any guarantor of this Lease or of all or any part of Tenant’s or such guarantor’s property, (iv) file a petition seeking an order for relief under the Title 11 of the United
States Code, as now or hereafter amended or supplemented (the “Bankruptcy Code”), or by filing any petition under any other present or future federal, state or other statute or law for the same or similar relief, or (v) fail to
win the dismissal, discontinuation or vacating of any involuntary bankruptcy proceeding filed under the Bankruptcy Code, or under any other present or future federal, state or other statute or law for the same or similar relief, within sixty
(60) days after such proceeding is initiated; or 
 (v)    Any lien has been filed against the
Property, or any portion thereof, as a result of Tenant’s acts, omissions or breach of this Lease, and Tenant fails, within 30 days after the lien is filed, either (1) to cause said lien to be removed from the Property, or (2) to
furnish a bond sufficient to remove the lien or cause a title insurance endorsement to be issued with respect to such lien, which endorsement shall be satisfactory, in form and substance to Landlord, in Landlord’s reasonable discretion; 

then in any such case Landlord may exercise any of Landlord’s rights or remedies available under this Lease, at law or in equity. 

  
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 14.2    Landlord’s
Remedies. 
 (a)    Upon the occurrence of an Event of Default, Landlord shall have the following remedies, in
addition to any and all other rights and remedies available at Law or in equity or otherwise provided in this Lease, any one or more of which Landlord may resort to cumulatively, consecutively, or in the alternative: 

(i)    Landlord may continue this Lease in full force and effect, and collect Rent and other charges as and
when due, without prejudice to Landlord’s right to subsequently elect to terminate this Lease on account of such Event of Default; 

(ii)    Landlord may terminate this Lease upon written notice to Tenant to such effect, in which event this
Lease (and all of Tenant’s rights hereunder) shall immediately terminate, but such termination shall not affect those obligations of Tenant which are intended by their terms to survive the expiration or termination of this Lease, and Tenant
shall remain liable for damages as hereinafter set forth in this Section 14.2. This Lease may also be terminated by a judgment specifically providing for termination; 

(iii)    Landlord may terminate Tenant’s right of possession without terminating this Lease upon
written notice to Tenant to such effect, in which event Tenant’s right of possession of the Premises shall immediately terminate, but this Lease shall continue subject to the effect of this Section 14.2; 

(iv)    Landlord may, but shall not be obligated to, perform any defaulted obligation of Tenant, and to
recover from Tenant, as Additional Rent, the costs incurred by Landlord in performing such obligation. Notwithstanding the foregoing, or any other notice and cure period set forth herein, Landlord may exercise its rights under this
Section 14.2(a)(iv) without prior notice or upon shorter notice than otherwise required hereunder (and as may be reasonable under the circumstances) in the event of any one or more of the following circumstances is present:
(i) there exists a reasonable risk of prosecution of Landlord unless such obligation is performed sooner than the stated cure period; (ii) there exists an emergency arising out of the defaulted obligation; or (iii) the Tenant has
failed to obtain insurance required by this Lease, or such insurance has been canceled by the insurer without being timely replaced by Tenant, as required herein; and 

(v)    Landlord shall have the right to recover damages from Tenant, as set forth in this
Section 14.2. 
 (b)    Upon any termination of this Lease or of Tenant’s right of
possession, Landlord, at its sole election, may (i) re-enter the Premises, either by summary proceedings, ejectment or otherwise, and remove and dispossess Tenant and all other persons and any and all
property from the same, as if this Lease had not been made, (ii) remove all property from the Premises and store the same in a public warehouse or elsewhere at Tenant’s expense, and/or (iii) deem such property to be abandoned, and, in
such event, Landlord may dispose of such property at Tenant’s expense, free from any claim by Tenant or anyone claiming by, through or under Tenant. It shall not constitute a constructive or other termination of this Lease or Tenant’s
right to possession if Landlord, pursuant to the terms of this Lease (a) exercises its right to repair or maintain the Premises, (b) performs any unperformed obligations of Tenant, (c) stores or removes Tenant’s property from the
Premises after Tenant’s dispossession, (d) attempts to relet, or, in fact, does relet, the Premises or (e) seeks the appointment of a receiver on Landlord’s initiative to protect Landlord’s interest under this Lease. 

  
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 (c)    If this Lease shall have been terminated as provided in this
Article, Tenant shall pay the Basic Rent, Additional Rent, and other sums payable hereunder up to the time of such termination, and thereafter Tenant, until the end of what would have been the Term of this Lease in the absence of such termination,
and whether or not the Premises shall have been relet, shall be liable to Landlord for, and shall pay to Landlord, as liquidated current damages: (x) the Basic Rent, Additional Rent, and other sums that would be payable hereunder if such
termination had not occurred, less the net proceeds, if any, of any reletting of the Premises, after deducting all expenses incurred by Landlord in connection with such reletting, including, without limitation, all repossession costs, brokerage
commissions, legal expenses, attorneys’ fees, advertising, expenses of employees, alteration costs and expenses of preparation for such reletting; and (y) if, in accordance with Section 3.1(a), Tenant commenced
payment of the full amount of Basic Rent on any day other than the Commencement Date, the amount of Basic Rent that would have been payable during the period beginning on the Rent Commencement Date and ending on the day Tenant commenced payment of
the full amount of Basic Rent under such Section 3.1(a). Tenant shall pay the portion of such current damages referred to in clause (x) above to Landlord monthly on the days which the Basic Rent would have been payable
hereunder if this Lease had not been terminated, and Tenant shall pay the portion of such current damages referred to in clause (y) above to Landlord upon such termination. 

(d)    At any time after termination of this Lease as provided in this Article, whether or not Landlord shall have
collected any such current damages, as liquidated final damages and in lieu of all such current damages beyond the date of such demand, at Landlord’s election Tenant shall pay to Landlord an amount equal to the excess, if any, of the Basic
Rent, Additional Rent and other sums as hereinbefore provided which would be payable hereunder from the date of such demand assuming that, for the purposes of this paragraph, annual payments by Tenant on account of Taxes and Operating Expenses would
be the same as the payments required for the immediately preceding Operating or Tax Year plus a three percent (3%) annual increase per year for what would be the then unexpired Term of this Lease if the same remained in effect, over the then fair
net rental value of the Premises for the same period. 
 (e)    In case of any Event of Default, re-entry, expiration and dispossession by summary proceedings or otherwise, Landlord may (i) relet the Premises or any part or parts thereof, either in the name of Landlord or otherwise, for a term or terms
which may at Landlord’s option be equal to or less than or exceed the period which would otherwise have constituted the balance of the Term of this Lease and may grant concessions or free rent to the extent that Landlord considers advisable and
necessary to re let the same and (ii) make such alterations, repairs and decorations in the Premises as Landlord considers advisable and necessary for the purpose of reletting the Premises; and the making of such alterations, repairs and
decorations shall not operate or be construed to release Tenant from liability hereunder as aforesaid. Tenant, for itself and any and all persons claiming through or under Tenant, including its creditors, upon the termination of this Lease and of
the term of this Lease in accordance with the terms hereof, or in the event of entry of judgment for the recovery of the possession of the Premises in any action or proceeding, or if Landlord shall enter the Premises by process of law or otherwise,
hereby waives any right of redemption provided or permitted by any statute, law or decision now or hereafter in force, and does hereby waive, surrender and give up all rights or privileges which it or they may or might have under and by reason of
any present or future law or decision, to redeem the Premises or for a continuation of this Lease for the term of this Lease hereby demised after having been dispossessed or ejected therefrom by process of law, or otherwise. 

(f)    In addition to any other remedies under this Article 14, Tenant shall immediately become
liable to Landlord for all damages proximately caused by Tenant’s breach of its obligations under this Lease, including all costs Landlord incurs in reletting (or attempting to relet) the Premises or any part thereof, including, without
limitation, brokers’ commissions, expenses of cleaning, altering and preparing 

  
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the Premises for new tenants, legal fees and all other like expenses properly chargeable against the Premises and the rental received therefrom and like costs, provided that nothing set forth in
this Section 14.2(f) shall be construed to impose upon Landlord any obligation to relet the Premises or to mitigate its damages hereunder, except to the extent expressly required under applicable Law or as otherwise
specifically set forth herein. If Landlord does elect to relet the Premises (or any portion thereof), such reletting may be for a period shorter or longer than the remaining Term, and upon such terms and conditions as Landlord deems appropriate, in
its sole and absolute discretion, and Tenant shall have no interest in any sums collected by Landlord in connection with such reletting except to the extent expressly set forth herein. If the Premises or any part thereof shall be relet in
combination with any other space, then proper apportionment on a per-square foot basis shall be made of the rent received from such reletting and of the expenses of such reletting. If Landlord shall succeed in
reletting the Premises during the period in which Tenant is paying monthly rent damages as described in Section 14.2(c), Landlord shall credit Tenant with the net rents collected by Landlord from such reletting, after first
deducting from the gross rents, as and when collected by Landlord, (A) all expenses incurred or paid by Landlord in collecting such rents, and (B) any theretofore unrecovered costs associated with the termination of this Lease or
Landlord’s reentry into the Premises, including any theretofore unrecovered expenses of reletting or other damages payable hereunder. If the Premises or any portion thereof be relet by Landlord for the unexpired portion of the Term before
presentation of proof of such damages to any court, commission or tribunal, the amount of rent reserved upon such reletting shall, prima facie, constitute the fair and reasonable rental value for the Premises, or part thereof, so relet for the term
of the reletting. Landlord shall not be liable in any way whatsoever for its failure or refusal to relet the Premises or, if the Premises or any part are relet, for its failure to collect the rent under such reletting, and no such refusal or failure
to relet or failure to collect rent shall release or affect Tenant’s liability for damages or otherwise under this Lease. In all cases, and notwithstanding anything herein to the contrary, Landlord shall use reasonable efforts to relet the
Premises and to otherwise mitigate its damages; provided, however, that such efforts shall not require Landlord to (i) lease the Premises prior to any other available space in the Buildings; (ii) accept terms for the re-leasing of all or any portion of the Premises that are less than the then-prevailing market terms for comparable space in Comparable Buildings as reasonably determined by Landlord; or (iii) accept as a
tenant any person or entity that does not meet Landlord’s reasonable standards for financial capability and business reputation. Landlord shall in no event be liable in any way whatsoever for failure to relet the Premises, or in the event that
the Premises are relet, for failure to collect the rent under such reletting. 
 (g)    If the trustee or the debtor in
possession assumes the Lease under applicable bankruptcy law, it may assume and assign its interest in this Lease only if the proposed assignee first provides Landlord with (1) notice of such proposed assignment, setting forth (i) the name
and address of the proposed assignee, its proposed use of the Premises, reasonably detailed character and financial references for such person (including its most recent balance sheet and income statements certified by its chief financial officer
or, if available, a certified public accountant) and any other information reasonably requested by Landlord, and (ii) all of the terms and conditions of such offer, shall be given to Landlord by Tenant or such trustee no later than twenty
(20) days after receipt by Tenant or such trustee of such offer, but in any event no later than ten (10) days prior to the date that Tenant or such trustee shall make application to a court of competent jurisdiction for authority and
approval to assume this Lease and enter into such assignment; (2) Adequate Assurance of Future Performance (as hereinafter defined) of all of Tenant’s obligations under this Lease, and (3) Landlord determines, in the exercise of its
reasonable business judgment, that the assignment of this Lease will not breach any other lease, or any mortgage, financing agreement, or other agreement relating to the Property by which Landlord or the Property is then bound (and Landlord shall
not be required to obtain consents or waivers from any third party required under any lease, mortgage, financing agreement, or other such agreement by which Landlord is then bound). Landlord shall have the option, to be exercised by notice to Tenant
or such trustee given at any time prior to the date the application is filed for court approval of the assumption and assignment of 

  
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this Lease to the proposed assignee, to accept an assignment of this Lease upon the same terms and conditions and for the same consideration, if any, as the bona fide offer made by such proposed
assignee, less any brokerage commissions which may be payable out of the consideration to be paid by such person for the assignment of this Lease. 

(h)    For purposes only of paragraph (g) above, and in addition to any other requirements under
the Bankruptcy Code, any future federal bankruptcy law and applicable case law, “Adequate Assurance of Future Performance” means at least the satisfaction of the following conditions, which Landlord and Tenant acknowledge to be
commercially reasonable: 
 (i)    the proposed assignee submitting a current financial statement,
audited by a certified public accountant, that allows a net worth and working capital in amounts determined in the reasonable business judgment of Landlord to be sufficient to assure the future performance by the assignee of Tenant’s obligation
under this Lease; and 
 (ii)    if requested by Landlord in the exercise of its reasonable business
judgment, the proposed assignee obtaining a guarantee (in form and substance satisfactory to Landlord) from one or more persons who satisfy Landlord’s standards of creditworthiness; and 

(iii)    the proposed assignee is of a character and financial worth such as is in keeping with the
standards of Landlord in those respects for the Property, the assignee’s tenancy is of the same quality as other tenants at the Property, and the purposes for which the proposed assignee intends to use the Premises are uses expressly permitted
by and not prohibited by this Lease or prohibited by any other lease at the Property. 
 14.3    Additional
Rent. If Tenant shall fail to pay when due any sums under this Lease designated as Additional Rent, Landlord shall have the same rights and remedies as Landlord has hereunder for failure to pay Basic Rent. 

14.4    Remedying Defaults. Landlord shall have the right, but shall not be required, to pay such
sums or do any act which requires the expenditure of monies which may be necessary or appropriate by reason of the failure or neglect of Tenant to perform any of the provisions of this Lease within applicable notice and cure periods, and in the
event of the exercise of such right by Landlord, Tenant agrees to pay to Landlord forthwith upon demand all such sums, together with interest thereon at the Default Interest Rate, as Additional Rent. 

14.5    Remedies Cumulative. The specified remedies to which Landlord may resort hereunder are not
intended to be exclusive of any remedies or means of redress to which Landlord may at any time be entitled lawfully, and Landlord may invoke any remedy (including the remedy of specific performance) allowed at law or in equity as if specific
remedies were not herein provided for. 
 14.6    Enforcement Costs. Tenant shall pay all costs and
expenses (including, without limitation, attorneys’ fees and expenses at both the trial and appellate levels) incurred by or on behalf of Landlord in connection with the successful enforcement of any rights of Landlord or obligations of Tenant
hereunder, whether or not occasioned by an Event of Default. 
 14.7    Waiver. 

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

  
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the provisions hereof by Landlord or Tenant shall be construed as a waiver of any of the other provisions hereof, and a waiver at any time of any of the provisions hereof shall not be construed
as a waiver at any subsequent time of the same provisions. The consent or approval of Landlord or Tenant to or of any action by the other requiring such consent or approval shall not be construed to waive or render unnecessary Landlord’s or
Tenant’s consent or approval to or of any subsequent similar act by the other. 
 (b)    Any waiver by Landlord of
any provisions of this Lease must be in a writing signed by Landlord. In addition, Landlord’s acceptance of any payment from Tenant after a termination of this Lease due to an Event of Default by Tenant shall not have the effect of reinstating
this Lease, nor estop Landlord from exercising any of the rights and remedies granted to Landlord hereunder arising out of such Event of Default. No payment by Tenant or acceptance by Landlord of a lesser amount than the Basic Rent, Additional Rent,
and other sums due hereunder shall be deemed to be other than on account of the total amount due from Tenant to Landlord, to be applied in such order as Landlord deems appropriate. In no event shall any endorsement or statement on any check or
accompanying any check or payment be deemed an accord and satisfaction; and Landlord may accept such check or payment without prejudice to Landlord’s right to recover the balance of such Basic Rent, Additional Rent, or other sum and to pursue
any other remedy provided in this Lease. 
 14.8    Security Deposit. 

(a)    If a security deposit is specified in Section 1.1 hereof, Tenant agrees that the same will
be paid upon execution and delivery of this Lease, and that Landlord shall hold the same throughout the Term of this Lease as security for the performance by Tenant of all obligations on the part of Tenant hereunder. Landlord shall have the right
from time to time, without prejudice to any other remedy Landlord may have on account thereof, to apply such deposit, or any part thereof, to Landlord’s damages arising from, or to cure, any Event of Default. If Landlord shall so apply any or
all of such deposit, Tenant shall immediately upon demand deposit with Landlord the amount so applied to be held as security hereunder. Landlord shall return the deposit, or so much thereof as shall not have theretofore been applied in accordance
with the terms of this Section, to Tenant within thirty (30) days after the expiration or earlier termination of the Term of this Lease. While Landlord holds such deposit, Landlord shall have no obligation to pay interest on the same and shall
have the right to commingle the same with Landlord’s other funds. If Landlord conveys Landlord’s interest under this Lease, the deposit, or any part thereof not previously applied, may be turned over by Landlord to Landlord’s grantee,
and, if so turned over, Tenant agrees to look solely to such grantee for proper application of the deposit in accordance with the terms of this Section, and the return thereof in accordance herewith. The holder of a mortgage shall not be responsible
to Tenant for the return or application of any such deposit, whether or not it succeeds to the position of Landlord hereunder, unless such deposit shall have been received in hand by such holder. 

(b)    In lieu of a cash Security Deposit, Tenant, at Tenant’s option, may, simultaneously with the execution and
delivery of this Lease by Tenant, deliver to Landlord, and Tenant shall maintain in effect at all times during the Term, as security for the full and faithful performance and observance by Tenant of Tenant’s covenants and obligations under this
Lease, an unconditional, irrevocable, absolutely “clean” letter of credit (each such letter of credit and any extensions or replacements thereof, as the case may be, is hereinafter referred to as a “Letter of Credit”) in
the amount set forth in Section 1.1 hereof, in form reasonably satisfactory to Landlord and issued by a domestic bank or a foreign bank having at least one office for accepting draws in the continental United States with a
credit rating for its long-term debt of at least “A” according to Standard & Poor’s Ratings Group and Fitch IBCA, Inc. (an “Approved Bank”), or other issuer reasonably satisfactory to Landlord and either
having its principal place of business or a duly licensed branch or agency in Boston, Massachusetts. As of the date of this Lease, Landlord hereby approves Silicon Valley Bank as the issuer of the Letter of

  
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Credit, subject to Landlord’s rights under Section 14.8(d). Such Letter of Credit shall have an expiration date no earlier than the first anniversary of the date of
issuance thereof and shall be automatically renewed from year to year unless terminated by the issuer thereof by notice to Landlord given not less than thirty (30) days prior to the expiration thereof. Tenant shall, throughout the Term of this
Lease, deliver to Landlord, in the event of the termination of any Letter of Credit, a replacement Letter of Credit in lieu thereof or a renewal of the Letter of Credit in the same form as previously issued no later than ten (10) days prior to
the expiration date of the preceding Letter of Credit or any renewal thereof. The term of each such replacement Letter of Credit shall be not less than one year and shall be automatically renewable from year to year as aforesaid. If any Letter of
Credit delivered to Landlord under this Section 14.8 is subject to a final expiration date that is before the expiration date of the Term, Tenant shall deliver a replacement of or amendment to such Letter of Credit in the
same form as previously issued no later than ten (10) days prior to such final expiration date, and the final Letter of Credit delivered to Landlord pursuant to this Section 14.8 shall have a final expiration date
occurring not earlier than sixty (60) days following the expiration date of this Lease. If Tenant shall fail to obtain any replacement of or amendment to a Letter of Credit or to deposit with Landlord cash in US currency sufficient to replace
the face amount of the Letter of Credit within any of the applicable time limits set forth in this Section 14.8, and if such failure shall continue for more than five (5) Business Days after written notice from
Landlord, such failure shall constitute an immediate Event of Default under this Lease without any additional notice or cure period applicable thereto, and Landlord shall have the right (but not the obligation), at its option, to draw upon the full
available amount of the existing Letter of Credit and use, apply and retain the same as security hereunder, and notwithstanding such draw by Landlord, Landlord shall retain all other rights and remedies that are available to Landlord under this
Lease at Law or in equity with respect to such Event of Default. In the event Tenant deposits cash with Landlord pursuant to the foregoing, such deposit shall constitute Cash Security (as hereinafter defined) for purposes of this
Section 14.8 and, notwithstanding such deposit, Tenant shall, within thirty (30) days after such posting, deliver to Landlord a replacement Letter of Credit complying with all of the requirements of this
Section 14.8 to replace such Cash Security and, if Tenant fails to do so and such failure continues for more than five (5) Business Days after written notice from Landlord, such failure shall constitute an immediate
Event of Default under this Lease without any additional notice or cure period applicable thereto. Upon receipt of such replacement Letter of Credit complying with the requirements of this Section 14.8, Landlord shall
return to Tenant any unapplied Cash Security then being held by Landlord. 
 (c)    In the event Tenant defaults in
respect of the full and prompt payment and performance of any of the terms, provisions, covenants and conditions of this Lease beyond notice (the delivery of which shall not be required for purposes of this Section 14.8 if
Landlord is prevented or prohibited from delivering the same under applicable law, including, but not limited to, all applicable bankruptcy and insolvency law) and the expiration of any applicable cure period, including, but not limited to, the
payment of Basic Rent and Additional Rent, Landlord may, at its election, (but shall not be obligated to) apply any cash security deposit or draw down the entire available amount of the Letter of Credit or any portion thereof and use, apply or
retain the whole or any part of the security represented by the Letter of Credit to the extent required for the payment of: (i) Basic Rent, Additional Rent or any other sum which constitutes an Event of Default, (ii) any sum which Landlord
may expend or may be required to expend by reason of Tenant’s default in respect of any of the terms, provisions, covenants, and conditions of this Lease beyond notice (the delivery of which shall not be required for purposes of this
Section 14.8 if Landlord is prevented or prohibited from delivering the same under applicable law, including, but not limited to, all applicable bankruptcy and insolvency law) and the expiration of any applicable cure
period, including but not limited to, any reletting costs or expenses (including, without limitation, any free rent, tenant improvement allowance, leasing commissions, reasonable attorneys’ fees, costs and expenses, and other fees, costs and
expenses relating to the reletting of all or any portion of the Premises), (iii) any damages or deficiency in the reletting of the Premises, whether such damages or deficiency accrued before or after summary proceedings or other reentry by Landlord,
or (iv) any 

  
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damages awarded to Landlord in accordance with the terms and conditions of Article 14 hereof, it being understood that any use of the whole or any part of the security represented by the
Letter of Credit shall not constitute a bar or defense to any of Landlord’s other remedies under this Lease or any Law, including but not limited to Landlord’s right to assert a claim against Tenant under 11 U.S.C. §502(b)(6) or any
other provision of Title 11 of the United States Code. In no event shall the Letter of Credit require that Landlord submit evidence to the issuing (or advising) bank of the truth or accuracy of any fact or statement and in no event shall the issuing
bank or Tenant have the right to dispute the truth or accuracy of any such statement nor shall the issuing (or advising) bank have the right to review any provisions of the Lease. In no event and under no circumstance shall the draw down on or use
of any amounts drawn under the Letter of Credit constitute a basis or defense to the exercise of any other of Landlord’s rights and remedies under this Lease or under any Law, including, but not limited to, Landlord’s right to assert a
claim against Tenant under 11 U.S.C. §502(b)(6) or any other provision of Title 11 of the United States Code. 

(d)    In the event Tenant defaults in respect of any of the terms, provisions, covenants or conditions of this Lease,
beyond notice (the delivery of which shall not be required for purposes of this Section 14.8 if Landlord is prevented or prohibited from delivering the same under applicable law, including, but not limited to, all
applicable bankruptcy and insolvency law) and the expiration of any applicable cure period, and Landlord utilizes all or any part of the security represented by the Letter of Credit, Landlord may, in addition to exercising its rights as provided in
paragraph (b) hereof, retain the unapplied and unused balance of amount of the Letter of Credit drawn upon by Landlord (herein called the “Cash Security”) as security for the faithful performance and observance by Tenant
thereafter of the terms, provisions, and conditions of this Lease, and may use, apply, or retain the whole or any part of said Cash Security in accordance with the terms of Section 14.8(b) applicable to use and application
of the Letter of Credit proceeds. In the event Landlord uses, applies or retains any portion or all of the security represented by the Letter of Credit, Tenant shall, within ten (10) Business Days thereafter, restore the amount so used or
applied (at Landlord’s option, either by the deposit with Landlord of cash or the provision of a replacement Letter of Credit or amendment to the existing Letter of Credit) so that at all times the amount of the security represented by the
Letter of Credit and the Cash Security (if any) shall be not less than the security required by Section 1.1 hereof, failing which Tenant shall be in default of its obligations under this
Section 14.8 and, if such failure shall continue for more than five (5) Business Days after written notice from Landlord, such failure shall constitute an immediate Event of Default under this Lease without any
additional notice or cure period applicable thereto. Upon receipt of a replacement Letter of Credit complying with the requirements of this Section 14.8, Landlord shall return to Tenant any unapplied Cash Security then
being held by Landlord. 
 (e)    In addition to and without limitation of Landlord’s other rights under this
Section 14.8, if at any time during the Term of the Lease (as the same may be extended), the issuer of the then current Letter of Credit ceases to be an Approved Bank (or if the issuer of the existing Letter of Credit,
including Silicon Valley Bank, shall enter into any supervisory agreement with any governmental authority, or if the issuer of the existing Letter of Credit shall fail to meet any capital requirements imposed by applicable Law), then Landlord may
immediately draw upon the Letter of Credit as provided in Section 14.8 and use, apply and retain the same as Cash Security hereunder and Landlord shall have the right, by giving Tenant written notice of such requirement, to
require that Tenant obtain from a new issuer a replacement Letter of Credit, which issuer and replacement Letter of Credit shall both comply in all respects with the requirements of this Section 14.8. Upon receipt of such
replacement Letter of Credit complying with the requirements of this Section 14.8, Landlord shall return to Tenant any unapplied Cash Security then being held by Landlord. In the event that Tenant shall not have delivered
to Landlord a replacement Letter of Credit complying with all of the requirements of this Section 14.8 or deposits with Landlord Cash Security pursuant to the terms of Section 14.8(a) above within
ten (10) Business Days after Tenant’s receipt of such notice, Landlord shall have the right (but not the obligation), at its option, to 

  
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give written notice to Tenant stating that such failure constitutes a continuing and immediate Event of Default under this Lease without any additional notice or cure period applicable thereto,
and Landlord shall have the right to exercise all rights and remedies available to Landlord under this Lease or at Law and in equity with respect to such Event of Default. 

(f)    The Letter of Credit and the Cash Security (if any), less any proceeds thereof applied by Landlord in accordance
with the Lease, shall be returned to Tenant within sixty (60) days after the date fixed as the end of this Lease and after delivery to Landlord of possession of the Premises in the condition required under this Lease; provided, however, that in
no event shall any such return be construed as an admission by Landlord that Tenant has performed all of its obligations hereunder. In the event of any sale, transfer or leasing of Landlord’s interest in the Building whether or not in
connection with a sale, transfer or leasing of the Land to a vendee, transferee or lessee, Landlord shall have the right to transfer the Letter of Credit and the Cash Security (if any) to the vendee, transferee or lessee or, in the alternative, to
require Tenant to deliver a replacement Letter of Credit in the same form as previously issued or appropriate amendment to the Letter of Credit naming the new landlord as beneficiary, and, upon delivery by Tenant of a replacement Letter of Credit,
if applicable, Landlord shall return the existing Letter of Credit to Tenant. Upon such transfer or return of the Letter of Credit and the Cash Security (if any) and the assumption by such transferee of the Landlord’s obligations under this
Lease, Landlord shall thereupon be released by Tenant from all liability for the return thereof, and Tenant shall look solely to the new landlord for the return of the same. The provisions of the preceding sentence shall apply to every subsequent
sale, transfer or leasing of the Building, and any successor of Landlord may, upon a sale, transfer, leasing or other cessation of the interest of such successors in the Building, whether in whole or in part, transfer the Letter of Credit and the
Cash Security (if any) to any vendee, transferee or lessee of the Building (or require Tenant to deliver a replacement Letter of Credit as hereinabove set forth) and shall thereupon be relieved of all liability with respect thereto. If Tenant shall
fail to timely deliver a replacement Letter of Credit, as required by Landlord, within ten (10) Business Days of Landlord’s request therefor, and if such failure shall continue for more than five (5) Business Days after written notice
from Landlord of such failure, Tenant shall be in default of its obligations under this Section 14.8 and Landlord shall have the right (but not the obligation), at its option, to draw upon the existing Letter of Credit and
retain the proceeds as Cash Security hereunder until a replacement Letter of Credit is delivered, and notwithstanding such draw by Landlord, Landlord shall have the right (but not the obligation), at its option, to give written notice to Tenant
stating that such failure constitutes a continuing and immediate Event of Default of Tenant under this Lease without any additional notice or cure period applicable thereto, and Landlord shall have the right to exercise all rights and remedies
available to Landlord under this Lease or at Law and in equity with respect to such Event of Default. Upon delivery to Landlord of any such replacement Letter of Credit, such default shall be deemed cured and Landlord shall return to Tenant the
proceeds of the Letter of Credit which had been drawn by Landlord pursuant to the preceding sentence (or any balance thereof to which Tenant is entitled). Except in connection with a permitted assignment of this Lease, Tenant shall not assign or
encumber or attempt to assign or encumber the security represented by the Letter of Credit, and neither Landlord nor its successors or assigns shall be bound by any such assignment, encumbrance, attempted assignment or attempted encumbrance. In any
event, in the absence of evidence satisfactory to Landlord of an assignment of the right to receive the security represented by the Letter of Credit, Landlord may return the Letter of Credit to the original Tenant regardless of one or more
assignments of this Lease. 
 (g)    Neither the Letter of Credit, any proceeds therefrom or the Cash Security, if any,
shall be deemed an advance rent deposit or an advance payment of any other kind, or a measure or limitation of Landlord’s damages or constitute a bar or defense to any of the Landlord’s other remedies under this Lease or at law or in
equity upon Tenant’s default. 

  
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 (h)    As a material inducement to Landlord to enter into this Lease,
Tenant hereby acknowledges and agrees that the Letter of Credit and the proceeds thereof (including, without limitation any Cash Security resulting from Landlord’s draw upon all or any portion of the Letter of Credit) and the obligation to make
available or pay to Landlord all or a portion thereof in satisfaction of any obligation of Tenant under this Lease, shall be deemed third-party obligations of the issuer of the Letter of Credit and not the obligation of Tenant hereunder and,
accordingly, (A) shall not be subject to any limitation on damages contained in Section 502(b)(6) of Title 11 of the United States Code or any other limitation on damages that may apply under any federal, state or local law, rule or
regulation in connection with a bankruptcy, insolvency or other similar proceeding by, against or on behalf of Tenant, (B) shall not diminish or be offset against any amounts that Landlord would be able to claim against Tenant pursuant to 11
U.S.C. §502(b)(6) as if no Letter of Credit existed, and (C) may be relied on by Landlord in the event of an assignment of this Lease that is not expressly permitted in accordance with the terms of this Lease even if such assignment has
been authorized and approved by a court exercising jurisdiction in connection with a bankruptcy, insolvency or other similar proceeding by, against or on behalf of Tenant. 

14.9    Landlord’s Default. Landlord shall in no event be in default
under this Lease unless Landlord shall neglect or fail to perform any of its obligations hereunder and shall fail to remedy the same within thirty (30) days after notice to Landlord specifying such neglect or failure, or if such failure is of
such a nature that Landlord cannot reasonably remedy the same within such thirty (30) day period, Landlord shall fail to commence promptly (and in any event within such thirty (30) day period) to remedy the same and to prosecute such
remedy to completion with diligence and continuity. 
 14.10    Independent Covenants. Tenant
hereby acknowledges and agrees that the obligations of Tenant hereunder shall be separate and independent covenants and agreements, that the obligations of Tenant hereunder, including, without limitation the obligation to pay Basic Rent, Additional
Rent, and other sums due hereunder, shall continue unaffected, unless the requirement to pay or perform the same shall have been terminated or abated pursuant to an express provision of this Lease. To the extent of any conflicts or inconsistencies
between the terms and provisions of this Section 14.10 and the terms and provisions of the remainder of this Lease, the terms and provisions of this Section 14.10 shall control. 

ARTICLE 15 

MISCELLANEOUS PROVISIONS 

15.1    Landlord’s Rights of Access. Landlord and its agents,
representatives, contractors and employees shall have the right to enter the Premises upon one (1) Business Day prior notice (except in an emergency, in which event Landlord shall endeavor to give such notice as is reasonably practicable under
the circumstances and in all events notice under this Article 15 may be by e-mail sent to info@arcellx.com notwithstanding anything to the contrary in this Lease) for the purpose of
doing maintenance, making such repairs, alterations or improvements as Landlord shall reasonably require or shall have the right to make by the provisions of this Lease or otherwise in exercising Landlord’s rights or fulfilling Landlord’s
obligations under this Lease. Landlord and its agents, representatives, contractors and employees shall have the right to enter the Premises without notice to Tenant for the purpose of exercising any of Landlord’s rights under
Article 14 of this Lease. Landlord and its invitees shall also have the right on one (1) Business Day prior notice to enter the Premises, for the purpose of inspecting them or exhibiting them to prospective purchasers,
prospective or actual Superior Lessors or Superior Mortgagees of the Building and, during the final twelve (12) months of the Term, to prospective tenants. For each of the above purposes, Landlord shall at all times have a key with which to
unlock all the doors in the Premises, excluding Tenant’s vaults, safes and special security areas designated in advance by Tenant to Landlord. In an emergency, Landlord shall have the right to use any means that Landlord may deem proper to open
the doors in and to the Premises. Any entry into the 

  
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Premises by Landlord in the manner hereinbefore described shall not be deemed to be a forcible or unlawful entry into, or a detainer of, the Premises, or an actual or constructive eviction of
Tenant from any portion of the Premises. No provision of this Lease shall be construed as obligating Landlord to perform any repairs, alterations or decorations except as otherwise expressly agreed to be performed by Landlord in this Lease. In the
exercise of the rights in this Section 15.1, Landlord shall use reasonable efforts to not adversely affect Tenant’s use and occupancy of the Premises and to comply with Tenant’s reasonable security measures
(except in case of emergency). 
 15.2    Covenant of Quiet Enjoyment. Subject to the terms and
conditions of this Lease, on payment of the Basic Rent and Additional Rent and other Additional Rent and observing, keeping and performing all of the other terms and conditions of this Lease on Tenant’s part to be observed, kept and performed,
Tenant shall lawfully, peaceably and quietly enjoy the Premises during the term hereof, without hindrance or ejection by any persons lawfully claiming under Landlord to have title to the Premises superior to Tenant. The foregoing covenant of quiet
enjoyment is in lieu of any other covenant, express or implied. 

15.3    Landlord’s Liability. 

(a)    Tenant agrees to look solely to Landlord’s then equity interest in the Buildings at the time of recovery for
recovery of any judgment against Landlord, and agrees that neither Landlord nor any successor of Landlord nor any beneficiary, trustee, member, manager, partner, director, officer, employee or shareholder of Landlord or such successor shall ever be
personally liable for any such judgment, or for the payment of any monetary obligation to Tenant. The provision contained in the foregoing sentence is not intended to, and shall not, limit any right that Tenant might otherwise have to obtain
injunctive relief against Landlord or any successor of Landlord, or to take any action not involving the personal liability of Landlord or any successor of Landlord to respond in monetary damages from Landlord’s assets other than
Landlord’s equity interest in the Buildings. 
 (b)    In no event shall Landlord ever be liable to Tenant for any
loss of business or any other indirect or consequential damages suffered by Tenant from whatever cause. 
 (c)    Where
provision is made in this Lease for Landlord’s consent, and Tenant shall request such consent, and Landlord shall fail or refuse to give such consent, Tenant shall not be entitled to any damages for any withholding by Landlord of its consent,
it being intended that Tenant’s sole remedy shall be an action for specific performance or injunction, and that such remedy shall be available only in those cases where Landlord has expressly agreed in writing not to unreasonably withhold its
consent. Notwithstanding the foregoing, Landlord shall indemnify, defend, protect and hold harmless Tenant from, all losses, damages, liabilities, claims, attorneys’ fees, costs and expenses, excluding consequential damages, arising from
Landlord’s violation of this Lease with respect to its obligation not to unreasonably withhold its consent. Furthermore, except as otherwise expressly set forth in Section 5.2(a), with respect to Alterations to be
performed by Tenant, and Section 6.4, with respect to any Transfer proposed by Tenant, whenever Tenant requests Landlord’s consent or approval (whether or not provided for herein), Tenant shall pay to Landlord, on
demand, as Additional Rent, any reasonable expenses incurred by Landlord (including without limitation reasonable attorneys’ fees and costs, if any) in connection therewith. 

(d)    Any repairs or restoration required or permitted to be made by Landlord under this Lease may be made during normal
business hours, and Landlord shall have no liability for damages to Tenant for inconvenience, annoyance or interruption of business arising therefrom. 

  
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 15.4    Estoppel Certificate. Tenant shall, at any
time and from time to time, upon not less than ten (10) Business Days prior written notice by Landlord, execute, acknowledge and deliver to Landlord an estoppel certificate containing such statements of fact as Landlord reasonably requests,
including, without limitation, whether (i) Landlord is in default of any of its obligations under the Lease; (ii) no construction obligations remain to be performed by Landlord, and (iii) any construction allowance payable to Tenant
remains unpaid by Landlord. 
 15.5    Brokerage. Tenant warrants and represents that Tenant has
dealt with no broker in connection with the consummation of this Lease other than Broker, and, in the event of any brokerage claims against Landlord predicated upon prior dealings with Tenant, Tenant agrees to defend the same and indemnify Landlord
against any such claim (except any claim by Broker). Landlord warrants and represents that Landlord has dealt with no broker in connection with the consummation of this Lease other than Broker, and, in the event of any brokerage claims against
Tenant predicated upon prior dealings with Landlord, Landlord agrees to defend the same and indemnify Tenant against any such claim. Landlord shall be responsible to pay the commission or fee due to Broker as and to the extent provided in a separate
written agreement. 
 15.6    Rules and Regulations. Tenant, its employees, representatives,
agents, subtenants, licensees, contractors, and invitees shall abide by the Rules and Regulations from time to time established by Landlord, it being agreed that Landlord shall have the right from time to time during the Term to make reasonable
changes in and additions to the Rules and Regulations as Landlord deems necessary for the management, safety, care, cleanliness, conservation and sustainability of the Building and the Property and for the preservation of good order therein,
provided that any such changes in and/or additions to the Rules and Regulations are applied in a non-discriminatory manner and do not materially adversely affect Tenant’s right to use the Premises for the
Permitted Use or Tenant’s parking rights and do not materially increase Tenant’s obligations under this Lease. The Rules and Regulations shall be generally applicable to all tenants of the Building of similar nature to the Tenant named
herein. Landlord agrees that any such Rules and Regulations will be uniformly enforced, provided, however, Landlord may waive any one or more of the Rules and Regulations for the benefit of any particular tenant if Landlord reasonably deems such
waiver appropriate, but no such waiver shall be construed as a waiver of such Rules and Regulations in favor of any other tenant, nor prevent Landlord from enforcing such Rules and Regulations against any or all tenants of the Building. Landlord
shall not have any obligation to enforce the Rules and Regulations or the terms of any other lease against any other Tenant and Landlord shall not be liable to Tenant for violation thereof by any other tenant, its employees, representatives, agents,
contractors, visitors, subtenants, licensees or invitees. In the event that there shall be a conflict between such Rules and Regulations and the provisions of this Lease, the provisions of this Lease shall control. The Rules and Regulations
currently in effect are set forth in Exhibit F attached hereto and made a part hereof. 

15.7    Financial Statements. Tenant shall deliver to Landlord, within ten (10) days after
Landlord’s reasonable request for the same, Tenant’s most recently completed financial statements (audited if available) prepared and certified by an independent certified public accountant and certified by an officer of Tenant as being
true and correct in all material respects. Landlord and its affiliates and investors shall keep such financial statements confidential, provided that Landlord shall be permitted to deliver such financial statements to a lender, purchaser or lessor
or a prospective lender, purchaser or lessor in connection with (i) a sale or financing of the Building or the Property or any interest in any deed of trust encumbering the Building or the Property, or (ii) a sale of all or substantially
all of the interests in Landlord or (iii) any other recapitalization of the equity interests in Landlord, so long as Landlord first advises the recipient of the confidential nature of such statements. Notwithstanding the foregoing, if and only
so long as Tenant’s stock is publicly traded on a national exchange (or publicly listed in an equivalent manner, such as on NASDAQ) that requires its financial statements to be publicly disclosed, Tenant shall have no obligation to deliver any
financial statements to Landlord. Any such financial statements may be relied upon by any actual or potential lessor, purchaser, or mortgagee of the Property. 

  
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 15.8    Intentionally Deleted. 

15.9    Intentionally Deleted. 

15.10    Invalidity of Particular Provisions; Saving Clause. If any term or provision of this Lease,
or the application thereof to any person or circumstance shall, to any extent, be invalid or unenforceable, the remainder of this Lease, or the application of such term or provision to persons or circumstances other than those as to which it is held
invalid or unenforceable, shall not be affected thereby, and each term and provision of this Lease shall be valid and be enforced to the fullest extent permitted by law. If (but solely to the extent) the limitations on Landlord’s liability set
forth in this Lease would be held to be unenforceable or void in the absence of a modification holding the Landlord liable to Tenant or to another person for injury, loss, damage or liability arising from Landlord’s omission, fault, negligence
or other misconduct on or about the Premises, or other areas of the Property appurtenant thereto or used in connection therewith and not under Tenant’s exclusive control, then such provision shall be deemed modified as and to the extent (but
solely to the extent) necessary to render such provision enforceable under applicable Law. The foregoing shall not affect the application of Section 15.3 to limit the assets available for execution of any claim against
Landlord. 
 15.11    Provisions Binding, Etc. Except as herein otherwise provided, the terms
hereof shall be binding upon and shall inure to the benefit of the successors and assigns, respectively, of Landlord and Tenant (except in the case of Tenant, only such successors and assigns as may be permitted hereunder) and, if Tenant shall be an
individual, upon and to his heirs, executors, administrators, successors and permitted assigns. Each term and each provision of this Lease to be performed by Tenant shall be construed to be both a covenant and a condition. Any reference in this
Lease to successors and assigns of Tenant shall not be construed to constitute a consent to assignment by Tenant. 

15.12    Recording. Tenant agrees not to record this Lease, but each party hereto agrees, on the
request of the other, to execute a short form memorandum of lease in recordable form and complying with applicable Law and shall contain no information other than what is statutorily required to record a short form memorandum of lease. In no event
shall such document set forth the rent or other charges payable by Tenant under this Lease; and any such document shall expressly state that it is executed pursuant to the provisions contained in this Lease, and is not intended to vary the terms and
conditions of this Lease. At any time following Landlord’s request, Tenant shall execute and deliver to Landlord within ten (10) days after such request a release of any document recorded in the real property records for the location of
the Property evidencing this Lease or notice of termination of this Lease in recordable form, which shall be held in escrow by Landlord until the expiration or earlier termination of the Term. The obligations of Tenant under this Section shall
survive the expiration or any earlier termination of the Term. 
 15.13    Notice. Whenever, by the
terms of this Lease, notice shall or may be given either to Landlord or to Tenant (excluding notices pursuant to Section 15.1, which may be delivered via email), such notice shall be in writing and shall be sent by hand,
registered or certified mail, or overnight or other commercial courier, postage or delivery charges, as the case may be, prepaid as follows: 

If intended for Landlord, addressed to Landlord at the address set forth in Article 1 of this Lease (or to such other
address or addresses as may from time to time hereafter be designated by Landlord by like notice). 

  
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 If intended for Tenant, addressed to Tenant at the address set forth in
Article 1 of this Lease (or to such other address or addresses as may from time to time hereafter be designated by Tenant by like notice). 

Except as otherwise provided herein, all such notices shall be effective when received; provided, that (i) if receipt is refused, notice
shall be effective upon the first occasion that such receipt is refused, (ii) if the notice is unable to be delivered due to a change of address of which no notice was given, notice shall be effective upon the date such delivery was attempted,
(iii) if the notice address is a post office box number, notice shall be effective three (3) Business Days after such notice is sent as provided hereinabove or (iv) if the notice is to a foreign address, notice shall be effective
three (3) Business Days after such notice is sent as provided hereinabove. 
 Any notice given by an attorney on behalf of Landlord or
by Landlord’s managing agent shall be considered as given by Landlord and shall be fully effective. 

15.14    Authority. 

(a)    Tenant hereby represents and warrants to Landlord that (i) Tenant is duly organized and validly existing in
good standing under the laws of the state of Maryland, and possesses all licenses and authorizations necessary to carry on its business, (ii) Tenant has full power and authority to carry on its business, enter into this Lease and consummate the
transaction contemplated by this Lease, (iii) the individual executing and delivering this Lease on Tenant’s behalf has been duly authorized to do so, (iv) this Lease has been duly executed and delivered by Tenant, (v) this Lease
constitutes a valid, legal, binding and enforceable obligation of Tenant (subject to bankruptcy, insolvency or creditor rights laws generally, and principles of equity generally), (vi) the execution, delivery and performance of this Lease by Tenant
will not cause or constitute a default under, or conflict with, the organizational documents of Tenant or any agreement to which Tenant is a party, (vii) the execution, delivery and performance of this Lease by Tenant will not violate any
applicable Law, and (viii) all consents, approvals, authorizations, orders or filings of or with any court or governmental agency or body, if any, required on the part of Tenant for the execution, delivery and performance of this Lease have
been obtained or made. 
 (b)    Landlord hereby represents and warrants to Tenant that (i) Landlord is duly
organized and validly existing in good standing under the laws of the state of Maryland, (ii) Landlord has full power and authority to carry on its business, enter into this Lease and consummate the transaction contemplated by this Lease,
(iii) the individual executing and delivering this Lease on Landlord’s behalf has been duly authorized to do so, (iv) this Lease has been duly executed and delivered by Landlord, and (v) this Lease constitutes a valid, legal,
binding and enforceable obligation of Landlord (subject to bankruptcy, insolvency or creditor rights laws generally, and principles of equity generally). 

15.15    When Lease Becomes Binding; Entire Agreement; Modification. The submission of this document
for examination and negotiation does not constitute an offer to lease, or a reservation of, or option for, the Premises, and this document shall become effective and binding only upon the execution and delivery hereof by both Landlord and Tenant.
This Lease is the entire agreement between Landlord and Tenant, and this Lease expressly supersedes any negotiations, considerations, representations and understandings and proposals or other written documents relating hereto. This Lease may be
modified or altered only by written agreement between Landlord and Tenant, and no act or omission of any employee or agent of Landlord shall alter, change or modify any of the provisions hereof. 

  
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 15.16    Paragraph Headings and Interpretation of
Sections. The paragraph headings throughout this instrument are for convenience and reference only, and the words contained therein shall in no way be held to explain, modify, amplify or aid in the interpretation, construction or meaning of
the provisions of this Lease. The provisions of this Lease shall be construed as a whole, according to their common meaning (except where a precise legal interpretation is clearly evidenced), and not for or against either party. Use in this Lease of
the words “including,” “such as” or words of similar import, when followed by any general term, statement or matter, shall not be construed to limit such term, statement or matter to the specified item(s), whether or not language
of non-limitation, such as “without limitation” or “including, but not limited to,” or words of similar import, are used with reference thereto, but rather shall be deemed to refer to all
other terms or matters that could fall within a reasonably broad scope of such term, statement or matter. 

15.17    Joint and Several Liability; Successors and Assigns. If there shall be more than person or
entity which constitute the “Tenant” hereunder, the obligations of Tenant hereunder shall be joint and several for all such persons and entities. The covenants and conditions herein contained, subject to the provisions as to assignment,
shall inure to and bind the heirs, successors, executors, administrators and assigns of the parties hereto. 

15.18    Waiver of Jury Trial. In any action or proceeding arising herefrom, Landlord and Tenant
hereby consent to (i) the jurisdiction of any competent court within the state where the Building is located, (ii) service of process by any means authorized by the law of the state where the Building is located, and (iii) in the
interest of saving time and expense, trial without a jury in any action, proceeding or counterclaim brought by either of the parties hereto against the other or their successors in respect of any matter arising out of or in connection with this
Lease, the relationship of Landlord and Tenant, Tenant’s use or occupancy of the premises, and/or any claim for injury or damage, or any emergency or statutory remedy. In the event Landlord commences any summary proceedings or action for
nonpayment of Basic rent or Additional Rent, Tenant shall not interpose any counterclaim of any nature or description (unless such counterclaim shall be mandatory) in any such proceeding or action, but shall be relegated to an independent action at
law. 
 15.19    Reservation. Nothing set forth in this Lease shall be deemed or construed to
restrict Landlord from making any repairs, renovations, replacements, improvements and modifications to, or to reconfigure, any of the parking or Common Facilities serving the Property, and Landlord expressly reserves the right to make any such
repairs, renovations, replacements, improvements and modifications or reconfigurations to such areas and other facilities of the Building and Common Facilities as Landlord may deem appropriate, including the addition or deletion of temporary or
permanent improvements therein, or the conversion of areas now dedicated for the non- exclusive common use of tenants (including Tenant) to the exclusive use of one or more tenants or licensees within the
Building. In connection with the foregoing, Landlord may temporarily close or cover entrances, doors, windows, corridors, or other facilities without liability to Tenant; however, in doing so, Landlord shall use commercially reasonable efforts to
not unreasonably interfere with or disturb Tenant’s use and occupancy of the Premises or Tenant’s parking rights. 

15.20    Prohibited Persons and Transactions. Tenant represents and warrants that neither Tenant nor
any of its affiliates, nor any of their respective partners, members, shareholders or other equity owners, and none of their respective employees, officers, directors, representatives or agents is, nor will they become, a person or entity with whom
U.S. persons or entities are restricted from doing business under regulations of the Office of Foreign Asset Control (“OFAC“) of the Department of the Treasury (including those named on OFAC’s Specially Designated and Blocked
Persons List) or under any statute, executive order (including the September 24, 2001, Executive Order Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism), or other governmental
action and is not and will not Transfer this Lease to, contract with or otherwise engage in any dealings or transactions or be otherwise associated with such persons or entities. 

  
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 15.21    Time Is of the Essence. Time is of the
essence of each provision of this Lease. 
 15.22    Multiple Counterparts; Entire
Agreement. This Lease may be executed in multiple counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same document. This Lease constitutes the entire agreement between the parties
hereto, Landlord’s managing agent and their respective affiliates with respect to the subject matter hereof and thereof and supersedes all prior dealings between them with respect to such subject matter, and there are no verbal or collateral
understandings, agreements, representations or warranties not expressly set forth in this Lease. No subsequent alteration, amendment, change or addition to this Lease shall be binding upon Landlord or Tenant, unless reduced to writing and signed by
the party or parties to be charged therewith. 
 15.23    Governing Law. This Lease shall be
governed by the laws of the state in which the Property is located, without regard to application of any conflict of law principles. 

ARTICLE 16 
 OPTION TO
EXTEND TERM 
 16.1    Extended Term. Provided that, at the time of such
exercise, (i) this Lease is in full force and effect, and (ii) no Event of Default shall have occurred and be continuing (either at the time of exercise or at the commencement of the Extended Term), and (iii) Tenant and/or its
Permitted Transferees shall be in occupancy of the Premises and shall not have assigned this Lease or sublet more than twenty-five percent (25%) of the Premises (except in connection with a Permitted Transfer) (any of which conditions described in
clauses (i), (ii), and (iii) may be waived by Landlord at any time in Landlord’s sole discretion), Tenant shall have the right and option to extend the Term of this Lease for two extended terms (each an “Extended Term”) of
five (5) years each by giving written notice (in each case, an “Extension Notice”) to Landlord not later than twelve (12) months and not sooner fifteen (15) months than prior to the expiration date of the Term then in
effect. The effective giving of such notice of extension by Tenant shall automatically extend the Term of this Lease for the applicable Extended Term, and no instrument of renewal or extension need be executed. In the event that Tenant fails timely
to give such notice to Landlord, this Lease shall automatically terminate at the end of the then current Term and Tenant shall have no further option to extend the Term of this Lease. Each Extended Term shall commence on the day immediately
succeeding the expiration date of the current Term and shall end on the day immediately preceding the fifth (5th) anniversary of the first day of the applicable Extended Term. Each Extended Term shall be on all the terms and conditions of this
Lease, except: (x) during the second Extended Term, Tenant shall have no further option to extend the Term, (y) the Basic Rent for each Extended Term shall be the Fair Market Rental Value of the Premises as of the commencement of the
Extended Term, taking into account all relevant factors, determined pursuant to Section 16.2 below, and (z) Landlord shall not be required to furnish any materials or perform any work to prepare the Premises for Tenant’s occupancy
during either Extended Term and Landlord shall not be required to provide any work allowance or reimburse Tenant for any alterations made or to be made by Tenant, or to grant Tenant any rent concession. 

16.2    Determination of Fair Market Rental Value. Promptly after receiving
Tenant’s Extension Notice pursuant to Section 16.1 above, Landlord shall provide Tenant with Landlord’s good faith estimate of the Fair Market Rental Value (as defined in Section 16.3 below) of the Premises
for the upcoming Extended Term, but in no event shall Landlord be required to deliver such estimate sooner 

  
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than eleven (11) months prior to the expiration of the Term then in effect. If Tenant is unwilling to accept Landlord’s estimate of the Fair Market Rental Value as set forth in
Landlord’s notice referred to above, and the parties are unable to reach agreement thereon within thirty (30) days after the delivery of such notice by Landlord, then either party may submit the determination of the Fair Market Rental
Value of the Premises to arbitration by giving notice to the other party naming the initiating party’s arbitrator within ten (10) days after the expiration of such thirty (30) day period. Within fifteen (15) days after receiving
a notice of initiation of arbitration, the responding party shall appoint its own arbitrator by notifying the initiating party of the responding party’s arbitrator. If the second arbitrator shall not have been so appointed within such fifteen
(15) day period, the Fair Market Rental Value of the Premises shall be determined by the initiating party’s arbitrator. If the second arbitrator shall have been so appointed, the two arbitrators thus appointed shall, within fifteen
(15) days after the responding party’s notice of appointment of the second arbitrator, appoint a third arbitrator. If the two initial arbitrators are unable timely to agree on the third arbitrator, then either may, on behalf of both,
request such appointment by the Boston office of JAMS, Inc., or its successor, or, on its failure, refusal or inability to act, by a court of competent jurisdiction. The Fair Market Rental Value of the Premises for the Extended Term shall be
determined by the method commonly known as Baseball Arbitration, whereby Landlord’s selected arbitrator and Tenant’s selected arbitrator shall each set forth its respective determination of the Fair Market Rental Value of the Premises, and
the third arbitrator must select one or the other (it being understood that the third arbitrator shall be expressly prohibited from selecting a compromise figure). Landlord’s selected arbitrator and Tenant’s selected arbitrator shall
deliver their determinations of the Fair Market Rental Value of the Premises to the third arbitrator within five (5) Business Days of the appointment of the third arbitrator and the third arbitrator shall render his or her decision within ten
(10) days after receipt of both of the other two determinations of the Fair Market Rental Value of the Premises. The third arbitrator’s decision shall be binding on both Landlord and Tenant. The third arbitrator shall be a commercial real
estate broker who is independent from the parties and who has not worked for either party or their affiliates in the prior five (5) years and who has at least ten (10) years’ experience in Comparable Buildings. Each party shall pay
the fees of its own arbitrator, and the fees of the third arbitrator shall be shared equally by the parties. In the event Tenant initiates the aforesaid arbitration process and as of the commencement of the Extended Term the amount of the Basic Rent
for the Extended Term has not been determined, Tenant shall pay the amount determined by Landlord for the Premises and when the determination has actually been made, an appropriate retroactive adjustment shall be made as of the commencement of the
Extended Term if necessary. In the event that such determination shall result in an overpayment by Tenant of any Basic Rent, such overpayment shall be paid by Landlord to Tenant promptly after such determination has been made, and if such
determination shall result in an underpayment by Tenant of any Basic Rent, Tenant shall pay any such amounts to Landlord promptly following such determination. 

16.3    Method for Calculating Fair Market Rental Value. For purposes of this
Section 16, the determination of “Fair Market Rental Value” shall mean the then fair market rental value of the Premises taking into account all then relevant factors, whether favorable to Landlord or Tenant, and based upon the
amount that landlords of Comparable Buildings have agreed to accept with tenants of comparable creditworthiness for comparable space (in terms of condition and floor location) of a comparable size, for a comparable use, for a nonrenewal term equal
to the Extended Term and commencing as of the first day of the Extended Term and taking into account all other relevant factors. 

ARTICLE 17 

RIGHT OF FIRST OFFER 

17.1    Available Space. Subject to the terms and conditions of this Article 17, before
Landlord leases any Available Space (as defined below) to any unrelated third party during the Term, Landlord 

  
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will first offer such Available Space to Tenant for lease by written notice to Tenant (“Landlord’s Offer Notice”) and Tenant will have the right to lease the offered
Available Space; provided, however, that Landlord shall not be obligated to provide any such notice during the last twenty-four (24) months of the Term of this Lease. As used in this Article 17, “Available Space” shall
mean and refer to any space in the Building that Landlord reasonably determines will be vacant and free of any possessory right now or hereafter existing in favor of any third party during the Term. Anything to the contrary contained herein
notwithstanding, Tenant’s right of first offer hereunder is subordinate to (i) any right of offer, right of first refusal, renewal right or similar right or option in favor of any third party existing as of the date of this Lease and
(ii) Landlord’s right to renew or extend the term of any lease to another tenant in occupancy of the Available Space, whether or not pursuant to an option or right set forth in such other tenant’s lease. 

17.2    Landlord’s Offer Notice; Acceptance by Tenant.
Landlord’s Offer Notice shall specify (i) the location and size of the Available Space, (ii) Landlord’s good faith determination of the fair market rent for the Available Space, (iii) the date that Landlord estimates the
Available Space will be delivered to Tenant, (iv) the Term of the Lease with respect to the Available Space, (v) tenant improvement allowances (if any), and (vi) all other material terms and conditions which will apply to the
Available Space. Tenant will notify Landlord within five (5) Business Days of Landlord’s Offer Notice that (x) Tenant elects to lease the Available Space on the terms set forth in Landlord’s Offer Notice, or (y) Tenant
rejects Landlord’s offer. If Tenant elects to lease the Available Space, Landlord and Tenant agree to enter into an amendment to the Lease memorializing the addition of the Available Space to this Lease, but failure of the parties to execute
such an amendment shall have no effect on the effectiveness of the expansion of the Premises to include the Available Space, and the economic terms associated therewith, as set forth above. If Tenant rejects Landlord’s offer, or fails to notify
Landlord within said five (5) Business Day period that Tenant intends to lease such Available Space, Landlord shall be entitled to lease the Available Space at any time to any third party on terms acceptable to Landlord in its sole discretion
and Tenant shall have no further right to lease such Available Space pursuant to this Lease; provided, however, that if (A) Landlord has not entered into a lease for such Available Space within one hundred eighty (180) days after the
expiration of said five (5) Business Day period, or (B) such space again qualifies as Available Space after the initial lease to a third partys, then in each case, Landlord shall re-offer such
Available Space to Tenant in accordance with the provisions of this Article 17. 

17.3    Conditions to Exercise of Right by Tenant. Notwithstanding any contrary provision of this
Article 17 or any other provision of the Lease, any exercise by Tenant of its right to lease Available Space shall be void and of no effect unless on the date Tenant notifies Landlord that it elects to lease Available Space and on the
commencement date of the amendment for the Available Space (i) the Lease is in full force and effect, and (ii) no Event of Default shall have occurred and be continuing, and (iii) the originally-named Tenant and/or any of its
Permitted Transferees shall be in occupancy of the Premises and there shall not then be in effect any sublease or subleases with respect to more than fifteen percent (15%) of the Premises other than pursuant to a Permitted Transfer (which conditions
under clauses (i), (ii) and (iii) above Landlord may waive by written notice to Tenant at any time). Without limiting the foregoing, all of the rights created by this Article 17 shall be personal to the originally named Tenant under this
Lease and shall not apply in favor of or be exercisable by any assignee of this Lease or other successor to Tenant’s rights under the Lease nor any sublessee of all or any portion of the Premises. 

  
 52 

 ARTICLE 18 

TENANT’S TERMINATION OPTION 

18.1    Termination Option. If (a) as of the date of the delivery of Tenant’s Termination
Notice (defined below) to Landlord, Tenant has been acquired in a bona fide, arms-length, third-party transaction; or (b) Tenant has in good faith and within the six (6) months prior to the delivery of Tenant’s Termination Notice
submitted a written request to Landlord seeking to enter into a lease for additional space at the Building and/or the Property, and a space of the square footage and use sought by Tenant is not, in Landlord’s reasonable determination, available
for lease as of the Effective Termination date (defined below), then in either case Tenant shall have the option (the “Termination Option”) to terminate this Lease effective as of the day prior to the seventh (7th) anniversary of
the Rent Commencement Date (the “Effective Termination Date”) by providing Landlord with no fewer than six (6) months’ prior written notice of such termination (the “Tenant’s Termination
Notice”), subject to the terms and conditions of this Article 18. On or before the Effective Termination Date, Tenant shall pay to Landlord the Termination Fee (defined below). If Tenant timely and properly exercises its Termination
Option and timely pays to Landlord the Termination Fee, then the Term of the Lease shall terminate as of the Effective Termination Date as if such date were the original expiration date for all purposes under the Lease. If Tenant fails to timely
give Tenant’s Termination Notice or to timely pay the Termination Fee (either of which conditions may be waived in Landlord’s sole discretion), Tenant’s exercise of the Termination Option shall be null and void, and Tenant shall have
no further option to terminate the Term of the Lease prior to the original expiration date thereof, except as otherwise set forth herein. 

18.2    Termination Fee. As used herein, the “Termination Fee” shall be an amount
equal to the sum of (x) the unamortized amount of Landlord’s Contribution and brokerage commissions in connection with the preparation of this Lease which shall be amortized over the Term at eight percent (8%) annual interest rate plus
(y) six (6) months of Basic Rent at the then-current rate. 
 [Signatures commence on following page] 

  
 53 

 [Signature page of lease] 

IN WITNESS WHEREOF, Landlord and Tenant have caused this Lease to be duly executed by persons hereunto duly authorized, as of the date
first set forth above. 
  

			
	LANDLORD:
	
	TFG WEST WATKINS PROPERTY, LLC
	a Delaware limited liability company
		
	By:	 	 /s/ R. Scott
Macphee                    

	Name:	 	R. Scott Macphee
	Title:	 	President
	
	TENANT:
	
	ARCELLX, INC., a
	Delaware corporation
		
	By:	 	 /s/ David
Hilbert                    

	Name:	 	David Hilbert
	Title:	 	CEO
	Tenant’s Federal Taxpayer
	Identification Number:

  
 54 

 EXHIBIT A 

Location Plan of Premises 
  

 

  
 A-1 

 EXHIBIT B 

Plan of the Property 
 All that lot or parcel of
land located in the 9th Election District of Montgomery County, Maryland and described as follows: 
 BEING KNOWN AND DESIGNATED
as Parcel E in a Subdivision known as “Bennington Corporate Center”, as per Plat thereof recorded among the Land Records of Montgomery County in Plat Book 181, Plat No. 20144. 

TOGETHER WITH AND SUBJECT TO that certain Deed of Easement dated April 13, 1988 and recorded among the Land Records of
Montgomery County in Liber 8241, folio 450 by and between Bennington Community Association, Inc., a Maryland non-profit corporation and Clopper Road Associates, a Maryland general partnership. 

  
 B-1 

 EXHIBIT C 

Work Letter 

1.    Landlord’s Work. 

a.    Scope of Landlord’s Work. Landlord shall construct and, except as provided below to the contrary, pay for
the entire cost of constructing the improvements (“Landlord’s Work”) described in Schedule C-1 attached hereto and otherwise in accordance with Building standard materials and
finishes (the “Scope of Work”). Tenant may request changes to the Scope of Work, subject to Landlord’s prior approval thereof, which shall not be unreasonably withheld, provided that the changes (a) shall meet or exceed
Landlord’s standard specifications for tenant improvements for the Building; (b) conform to applicable governmental regulations and necessary governmental permits and approvals can be secured; (c) do not require Building service
beyond the levels normally provided to other tenants in the Building; (d) do not have any adverse effect on the structural integrity or systems of the Building; and (e) will not, in Landlord’s opinion, unreasonably delay
Landlord’s Work. If Landlord approves a change requested by Tenant, then, as a condition to the effectiveness of Landlord’s approval, Tenant shall pay to Landlord, upon demand by Landlord, any increased cost attributable to such change, as
reasonably determined by Landlord. 
 b.    Performance of Landlord’s Work. Promptly after execution and
delivery of this Lease, Landlord shall commence and exercise all reasonable efforts to complete Landlord’s Work, which may, to the extent reasonably practicable, be performed concurrently with Tenant’s Work. Promptly after the commencement
of Landlord’s Work, Landlord shall furnish Tenant with a construction schedule letter setting forth the projected completion dates therefor and showing the deadlines for any actions required to be taken by Tenant during such construction, and
Landlord may from time to time during construction of Landlord’s Work modify such schedule. Landlord’s Work shall be constructed in accordance with the Approved Plans (as hereinafter defined) and all applicable Laws, in a good and workman
like manner, free of defects and using new materials and equipment of good quality. 
 c.    Substantial
Completion. The Landlord’s Work shall be deemed substantially complete on the first day as of which Landlord’s Work has been completed except for items of work (and, if applicable, adjustment of equipment and fixtures) which can be
completed after occupancy has been taken without causing undue interference with Tenant’s use of the Premises (i.e. so-called “punch list” items). 

d.    Conditions; Landlord’s Performance. Tenant shall give Landlord notice, not later than eleven
(11) calendar months after the Substantial Completion Date, of any respects in which Landlord has not performed Landlord’s Work fully, properly and in accordance with the terms of this Lease and Landlord shall promptly cause such items to
be corrected at Landlord’s sole cost and expense. Except as identified in any such notice from Tenant to Landlord, Tenant shall have no right to make any claim that Landlord has failed to perform any of Landlord’s Work fully, properly and
in accordance with the terms of this Lease or to require Landlord to perform any further Landlord’s Work. 
 2.    Tenant’s
Work. 
 a.    Preparation of Plans. Tenant is currently preparing, at its sole cost and expense, except as
set forth in this Section 2, plans and specifications for the improvements Tenant desires to make in connection with Tenant’s occupancy of the Premises (the “Plans”). In addition to the

  
 C-1 

 
Landlord’s Contribution (defined below), Landlord shall contribute up to $1,764.23 (i.e., $0.15 per rentable square foot of the Premises) (the “Landlord’s Plans
Contribution”) toward Tenant’s costs in preparing a preliminary space plan and one (1) revision. The Plans shall be submitted to Landlord for Landlord’s approval (such approval not to be unreasonably withheld or
delayed) no later than thirty (30) days from the date hereof, and Landlord shall approve or disapprove of the Plans within five (5) Business Days after receiving them. Any disapproval by Landlord of the Plans shall be accompanied by a
reasonably specific statement of reasons therefor. Tenant shall cause the Plans to be revised in a manner sufficient to remedy Landlord’s objections and/or respond to Landlord’s concerns and shall resubmit the revised the Plans to
Landlord, and Landlord shall either approve or disapprove of the revised Plans within five (5) Business Days following the date of resubmission. If Landlord shall again disapprove of the Plans, Tenant shall again revise such plans and resubmit
them to Landlord pursuant to the foregoing procedures until the Plans have been approved by Landlord. The Plans shall be stamped by a Maryland-registered architect and engineer, such architect and engineer being subject to Landlord’s approval
as set forth in Section 2(b), below, and shall comply with all applicable laws, ordinances and regulations (including, without limitation, the applicable requirements of the Americans with Disabilities Act of 1990, as
amended from time to time, and the regulations promulgated thereunder) and the requirements of the Rules and Regulations and shall be in a form satisfactory to appropriate governmental authorities responsible for issuing permits, approvals and
licenses required for construction. Landlord will not approve any alterations or additions that require unusual expense to readapt the Premises to the Permitted Use on expiration or termination of this Lease or increase the cost of insurance on the
Building, unless Tenant first gives assurances reasonably acceptable to Landlord that such readaptation will be made prior to such expiration or termination without expense to Landlord and for payment of any such increased cost. Tenant acknowledges
and agrees that any review or approval by Landlord of any plans and/or specifications with respect to Tenant’s Work is solely for Landlord’s benefit, and without any representation or warranty whatsoever to Tenant with respect to the
adequacy, correctness or efficiency thereof or otherwise. 
 b.    Performance of Tenant’s Work. Promptly
after the delivery of the Premises to Tenant, Landlord’s approval of the Plans (the “Approved Plans”) and receipt by Tenant of all required permits and approvals, Tenant shall commence and exercise all reasonable efforts to
complete the work specified therein (“Tenant’s Work”). All of Tenant’s Work shall be completed in accordance with the Approved Plans and the requirements for alterations and improvements made by or on behalf of Tenant set
forth in this Lease and in the Rules and Regulations; provided, that, (i) Tenant shall not be required to provide any additional security (i.e., lien and completion bonds) in connection with Tenant’s Work, (ii) Tenant shall not be
required to use Landlord’s designated contractors with respect to any portions of Tenant’s Work affecting the Structural Elements and/or fire and life safety systems of the Building, unless the same are available at commercially reasonable
rates. Tenant’s Work shall be performed by a general contractor approved by Landlord, which approval shall not be unreasonably withheld or delayed, under a written construction contract (and Landlord hereby acknowledges and agrees that
Advantage General Construction is hereby approved). Further, Tenant shall have the right to hire its own project manager, architect and engineer (together with Tenant’s general contractor, “Tenant’s Construction
Team”), subject to Landlord’s reasonable approval, in connection with the performance of Tenant’s Work (and Landlord hereby acknowledges and agrees that project manager: Adnan Sheikh, Scheer Partners; architect: Jef Fuller, DNC
Architects; engineer: Pat Goetz, JennErik Engineering is/are hereby approved). The approval by Landlord of Tenant’s Construction Team shall not impose upon Landlord any responsibility or liability whatsoever to Tenant as a result of, or arising
out of, the defaults or other acts or omissions of the Tenant’s Construction Team. Prior to commencing Tenant’s Work, Tenant shall obtain and provide 

  
 C-2 

 
Landlord with copies of, all state, local and other necessary permits and shall carry such insurance required under the Lease (naming Landlord, Landlord’s property manager, any Superior
Mortgagee and any other parties reasonably designated by Landlord as additional insureds). In addition, Landlord may monitor the progress of Tenant’s Work, including, without limitation, attend any weekly or other periodic job meetings. Any
review and monitoring of Tenant’s Work by Landlord shall not impose upon Landlord any responsibility or liability whatsoever to Tenant as a result of, or arising out of, Tenant’s Work. Within
forty-five (45) days after completion of any Tenant’s Work, Tenant shall provide to Landlord “as-built” plans of the Tenant’s Work. Tenant shall
provide Landlord with copies of the certificate of occupancy for any Tenant’s Work that requires a certificate of occupancy reasonably promptly after completion of such Tenant’s Work. Nothing herein shall be construed as permitting Tenant
to occupy all or any portion of the Premises for which Tenant has not obtained a certificate of occupancy or otherwise failed to comply with applicable legal requirements. 

c.    Landlord’s Contribution. Landlord shall reimburse Tenant for the costs incurred by Tenant with respect
to the performance of Tenant’s Work (the “Cost of Tenant’s Work”) up to the amount of Landlord’s Contribution and as more particularly set forth in this Section 2(c), provided that a
requisition is submitted by Tenant in accordance with the provisions of this Exhibit C on or before the date that is twenty-four (24) months after the Commencement Date. As used herein, “Landlord’s
Contribution” shall mean $1,696,375.00 (i.e., $125.00 per rentable square foot of the Premises). At least eighty percent (80%) of the total amount of Landlord’s Contribution requisitioned by Tenant must be for hard costs incurred by
Tenant, including architectural and mechanical, electrical and plumbing services. The balance of the Landlord’s Contribution may be applied toward soft costs, including without limitation consultant fees; the installation of a security system;
the installation of furniture, fixtures and equipment; and telephone and data cabling costs. The Costs of Tenant’s Work shall not include costs arising from an Event of Default or from any facts or circumstances that could become an Event of
Default, such as legal fees or bonding costs arising in connection with a mechanic’s lien placed on the Premises or Tenant’s interest therein. Tenant shall be entirely responsible for any excess. Landlord’s Contribution shall be
payable by Landlord to Tenant (or, at Tenant’s election, directly to Tenant’s contractor) upon written requisition to Landlord in monthly installments, as provided below, according to reasonable construction disbursement procedures and as
Tenant’s Work progresses. In any case, prior to payment of any such installment Tenant shall deliver to Landlord a written request, which request shall be given no more frequently than once every thirty (30) days, for such disbursement,
which shall be accompanied by: (i) invoices for Tenant’s Work covered such requisition; (ii) copies of partial lien waivers or final lien waivers (in the case of a final installment); (iii) a certificate signed by the Tenant’s
architect certifying that Tenant’s Work represented by the aforementioned invoices has been completed substantially in accordance with the Approved Plans; (iv) a certificate of substantial completion and
as-built plans for Tenant’s Work (in the case of a final installment); and (v) all other information and materials reasonably requested by Landlord. Landlord shall pay each required installment
within thirty (30) days of receiving the materials enumerated in the previous sentence. Each installment by Landlord will be in the amount of Landlord’s pro-rata share based on the ratio of
Landlord’s Contribution to the total Cost of Tenant’s Work (as evidenced by reasonably detailed documentation delivered to Landlord with the requisition first submitted by Tenant), less a retainage equal to the retainage set forth in the
construction contract, but in no event shall Landlord be required to pay more than Landlord’s Contribution. Landlord shall not be obligated to disburse funds for materials stored off-site. 

d.    Delay. In the event Tenant’s completion of Tenant’s Work is delayed due to (i) any breach by
Landlord of its obligations under this Work Letter, including, without limitation, 

  
 C-3 

 
and subject to the applicable notice and cure periods, Landlord’s failure to respond to the submission of Plans by Tenant in a timely manner or Landlord’s failure to timely complete
Landlord’s Work, or (ii) any other act or omission of Landlord that continues for more than one (1) Business Day after written notice, then, in each case, the Rent Commencement Date shall be delayed by one (1) day for each day
that the completion of Tenant’s Work was so delayed beyond the date completion otherwise would have occurred. 
 All in 

  
 C-4 

 Schedule C-1 

“Scope of Work” 
  

	•	 	 Provide and install new backup generator to provide a minimum of 5 watts per square foot for the Premises

  

	•	 	 Sub-metering utilities to Premises 

 

	•	 	 Pull fiber-optic of Tenants choosing to the Building 

 

	•	 	 Provide and install a cell phone amplifier for the Building; notwithstanding anything in the Lease or this
Exhibit C to the contrary, Landlord shall not be required to incur more than $10,000.00 in costs in the aggregate for this element, and to the extent the total costs of this element exceed $10,000.00, Tenant shall upon demand reimburse Landlord for
the balance of such excess costs within thirty (30) days of receipt of Landlord’s demand therefor. 

  

	•	 	 Uninstall and remove current base board heating and cooling units throughout the Premises and install a new HVAC
system (as described below); notwithstanding anything in the Lease or this Exhibit C to the contrary, Landlord shall not be required to incur more than $100,000.00 in costs in the aggregate for this element, and to the extent the total costs of this
element exceed $100,000.00, Tenant shall upon demand reimburse Landlord for the balance of such excess costs within thirty (30) days of receipt of Landlord’s demand therefor. 

 

	 	•	 	 Packaged DX, gas fired lab rooftop unit as well as a dedicated office rooftop unit designed in accordance with
mutually acceptable specifications. 

  

	•	 	 Provide and install a lab waste line 

 

	•	 	 Provide and install five (5) skylights at mutually agreed upon locations 

 

	•	 	 Provide and install four (4) store front glass fronts in the back of the Building 

 

	•	 	 Close off entrance at front right of building and install a window 

 

	•	 	 Provide and install new exterior entrance to the building to include modern glass double door entrance

  

	 	•	 	 To include installing a new awning and landscaping improvements 

 

	 	•	 	 Tenant will be consulted and have input on final design 

 

	 	•	 	 Provide and install a glass insert at the rear entrance near loading to include a dock leveler for lab
deliverables 

  

	 	•	 	 Only need one rear entrance door 

 

	•	 	 Provide and install an autoclave/glass wash area in the Building (specs below); notwithstanding anything in the
Lease or this Exhibit C to the contrary, the autoclave/glass wash area shall not be located within the Premises and shall instead be located in a mutually agreed upon location adjacent to the Premises for use as a Common Facility by Tenant and other
tenants of the Building, as more particularly set forth in the Lease. 

  

	 	•	 	 Autoclave - BMT Laboratory Sterilizer Model Sterlvap SL559-1

  

	 	•	 	 Glasswasher – Miele Model PG8583CD with
UG30-90/70-85 Base 

  
 C-5 

 EXHIBIT D 

Commencement Date Letter 

            , 20     

[Name of Contact] 
 [Name of Tenant] 

[Address of Tenant] 

RE:      [Name of Tenant] 

[Premises Rentable Area and Floor] 

[Address of Building] 
 Dear [Name of
Contact]: 
 Reference is made to that certain Lease, dated as
of            , 201    , between [Landlord], as Landlord and [Tenant] as Tenant, with respect to Premises on the
                    floor of the above-referenced building. In accordance with Section [    ] of the Lease, this is to
confirm that the Commencement Date of the Term of the Lease occurred on                     , and that the Term of the Lease shall expire
on                    . 
 If the
foregoing is in accordance with your understanding, kindly execute the enclosed duplicate of this letter, and return the same to us. 
  

					
	Very truly yours,
	
	[Landlord]
		
	By:	 	
                     
                                       

		 	Name:	 	  

		 	Title:	 	  

  

					
	 Accepted and Agreed:

	
	 [Tenant]

		
	 By:
	 	
                     
                                         
      

		 	Name:	 	
                     
                           

		 	Title:	 	  

		 	Date:	 	  

  
 D-1 

 EXHIBIT E 

Operating Expenses 
 Operating Expenses shall
include the following, without limitation: 
  

	 	1.	 All expenses incurred by Landlord or Landlord’s agents which shall be directly related to employment of
personnel, including amounts incurred for wages, salaries and other compensation for services, payroll, social security, unemployment and similar taxes, workmen’s compensation insurance, disability benefits, pensions, hospitalization,
retirement plans and group insurance, uniforms and working clothes and the cleaning thereof, and expenses imposed on Landlord or Landlord’s agents pursuant to any collective bargaining agreement for the services of employees of Landlord or
Landlord’s agents in connection with the operation, repair, maintenance, cleaning, management and protection of the Property, including without limitation day and night supervisors, manager, accountants, bookkeepers, janitors, carpenters,
engineers, mechanics, electricians and plumbers and personnel engaged in supervision of any of the persons mentioned above; provided that, if any such employee is also employed on other property of Landlord, such compensation shall be suitably
prorated among the Buildings and such other properties. 

  

	 	2.	 The cost of services, utilities, materials and supplies furnished or used in the operation, repair,
maintenance, cleaning, cleaning supplies and equipment (including rental), snow plowing or removal, or both, care of landscaping and irrigation systems, installing intrabuilding network cabling and maintaining, repairing, securing and replacing
existing intrabuilding network cabling, management and protection of the Property and the Buildings. 

  

	 	3.	 The cost of replacements for tools and other similar equipment used in the repair, maintenance, cleaning and
protection of the Property , provided that, in the case of any such equipment used jointly on other property of Landlord, such costs shall be suitably prorated among the Property and such other properties. 

 

	 	4.	 Where the Property is managed by Landlord or an affiliate of Landlord, a sum equal to the amounts customarily
charged by management firms in the Gaithersburg, Maryland area for similar properties, whether or not actually paid, or where managed by other than Landlord or an affiliate thereof, the amounts accrued for management, together with, in either case,
amounts accrued for legal and other professional fees relating to the Property, but excluding such fees and commissions paid in connection with services rendered for securing or renewing leases and for matters not related to the normal
administration and operation of the Property. 

  

	 	5.	 Premiums for insurance against damage or loss to the Property from such hazards as Landlord shall determine,
including, but not by way of limitation, insurance covering loss of rent attributable to any such hazards, and public liability insurance. 

  

	 	6.	 The annual amortization of any Permitted Capital Improvements (as hereinafter defined), amortized over the
useful life thereof, as reasonably determined by Landlord, including interest at a rate that is reasonably equivalent to the interest rate that Landlord would be required to pay to finance the cost of the Permitted Capital Improvements in question
as of the date such Permitted Capitals are performed. “Permitted Capital Improvements” 

  
 E-1 

	 	
shall mean capital expenses incurred at the Property (including the Building), which are (1) intended to reduce Operating Expenses, or (2) are required to comply with any Laws
first coming into applicability after the date of this Lease. 

  

	 	7.	 Costs for electricity, water and sewer use charges, gas and other utilities supplied to the Property and not
paid for directly by tenants. 

  

	 	8.	 Betterment assessments, provided the same are apportioned equally over the longest period permitted by law, and
to the extent, if any, not included in Taxes. 

  

	 	9.	 Commercially reasonable management fees. 

 

	 	10.	 Amounts paid to independent contractors for services, materials and supplies furnished for the operation,
repair, maintenance, cleaning and protection of the Property. 

  

	 	11.	 Without limiting the generality of any of the foregoing, the costs of maintaining, repairing and/or replacing
the autoclave and glass washer. 

 Notwithstanding anything to the contrary set forth in the Lease, Operating Expenses shall not include
the following: 
 (i)    Any cost or expense to the extent to which Landlord is paid or reimbursed (other than as a
payment for Operating Expenses), including work or services performed for any tenant (including Tenant) at such tenant’s cost or the cost of any item for which Landlord has been paid or reimbursed by insurance, warranties, service contracts,
condemnation proceeds or otherwise; 
 (ii)    The cost of any work or services performed for any other property other
than the Property; 
 (iii)    Marketing costs, including leasing commissions, attorneys’ fees, space planning
costs, and other costs and expenses incurred in connection with lease, sublease and/or assignment negotiations and transactions and disputes with present or prospective tenants or other occupants of the Buildings; 

(iv)    Costs associated with the operation of the business of the entity which constitutes Landlord as the same are
distinguished from the costs of operation of the Buildings; 
 (v)    Taxes; 

(vi)    Costs (including permit, license, and inspection fees) incurred in renovating, improving, decorating, painting or
redecorating vacant leasable space or space for tenants; 
 (vii)    Depreciation and amortization on the Building,
except as expressly permitted elsewhere in the Lease (including with respect to Permitted Capital Expenditures); 

(viii)    Overhead and profit paid to subsidiaries or affiliates of Landlord for management or other services on or to the
Property or for supplies or other materials, to the extent that the costs of the service, supplies or materials exceed the competitive costs of the services, supplies or materials were they not provided by a subsidiary or affiliate; 

(ix)    Interest on debt or amortization payments on mortgages or deeds of trust or any other debt for borrowed money;

  
 E-2 

 (x)    Items and services which Tenant is not entitled to receive under
this Lease but which a Landlord provides selectively to one or more tenants of the Buildings other than Tenant or for which Landlord is separately reimbursed; 

(xi)    The cost of any items that, under generally accepted accounting principles, are properly classified as capital
expenses, except as expressly provided above with respect to Permitted Capital Improvements; 
 (xii)    Costs incurred,
in excess of the deductible, in connection with repairs or other work needed to the Buildings because of fire, windstorm, or other casualty or cause insured against by Landlord; 

(xiii)    Any costs, fines or penalties incurred because Landlord, any other occupant of the Property, or their respective
agents, employees or contractors violated any governmental rule or authority; 
 (xiv)    Costs to comply with any
covenant, condition, restriction, underwriter’s requirement or Law applicable to the Premises or the Property on the Commencement Date; 

(xv)    Any capital cost necessary to cure any violation of any Law, ordinance or regulation applicable to the Building
existing as of the Commencement Date; 
 (xvi)     Any fee, profit, or compensation paid or retained by Landlord or its
affiliates for management and administration of the Property in excess of 3.5% of gross revenues for the Property; 

(xvii)    Expense reserves; 

(xviii)    Insurance deductibles in excess of Ten Thousand Dollars ($10,000) and
co-insurance payments; and 
 (xix)    Costs incurred in connection with the
remediation, clean-up, or abatement of any Hazardous Material, except to the extent caused by the release or emission of the Hazardous Material in question by Tenant. 

  
 E-3 

 EXHIBIT F 

Rules and Regulations of Building 

The following regulations are generally applicable: 
  

	 	1.	 The public sidewalks, entrances, passages, courts, elevators, vestibules, stairways, corridors or halls shall
not be obstructed or encumbered by Tenant or used for any purpose other than ingress and egress to and from the Premises. 

  

	 	2.	 No awnings, curtains, blinds, shades, screens or other projections shall be attached to or hung in, or used in
connection with, any window of the Premises or any outside wall of the Building. Such awnings, curtains. blinds, shades, screens or other projections must be of a quality, type, design and color, and attached in the manner, with prior approval by
Landlord. 

  

	 	3.	 No show cases or other articles shall be put in front of or affixed to any part of the exterior of the
Building, nor, if the Building is occupied by more than one tenant, displayed through interior windows into the common areas of the Property, nor placed in the halls, corridors or vestibules. 

 

	 	4.	 The water and wash closets and other plumbing fixtures shall not be used for any purposes other than those for
which they were designed and constructed, and no sweepings, rubbish, rags, acids or like substances shall be deposited therein. All damages resulting from any misuse of the fixtures shall be borne by the Tenant. 

 

	 	5.	 Tenant shall not use the Premises or any part thereof or permit the Premises or any part thereof to be used as
a public employment bureau or for the sale of property of any kind at auction. 

  

	 	6.	 Tenant must, upon the termination of its tenancy, return to the Landlord all locks, cylinders and keys to
offices and toilet rooms of the Premises. 

  

	 	7.	 Landlord reserves the right to exclude from the Building after business hours and at all hours on days other
than Business Days all persons connected with or calling upon the Tenant who are not escorted in the Building by an employee of Tenant. Tenant shall be responsible for all persons calling upon Tenant and shall be liable to the Landlord for all
wrongful acts of such persons. 

  

	 	8.	 The requirements of Tenant will be attended to only upon application at the Building Management Office.
Employees of Landlord shall not perform any work or do anything outside of their regular duties, unless under special instructions from the office of the Landlord. 

 

	 	9.	 There shall not be used in any space in the Building, or in the public halls of the Building, either by Tenant
or its agent, contractors, employees or others, in the delivery or receipt of merchandise, any hand trucks, except those equipped with rubber tires and side guards. 

 

	 	10.	 No bicycles, vehicles or animals of any kind shall be brought into or kept in or about the Premises.

  
 F-1 

	 	11.	 No tenant shall make, or permit to be made, any unseemly or disturbing noises or disturb or interfere with
occupants of this or any neighboring building or premises or those having business with them whether by use of any musical instrument, radio, talking machine, unmusical noise, whistling, singing, or in any other way. No tenant shall throw anything
out of the doors, windows or skylights or down the passageways. 

  

	 	12.	 The Premises shall not be used for lodging or sleeping or for any immoral or illegal purpose.

  

	 	13.	 No smoking shall be permitted in the Premises or the Building. Smoking shall only be permitted in smoking areas
outside of the Building which have been designated by the Landlord. Tenant shall comply with all applicable “No Smoking” and if Tenant is required by Law to adopt a written smoking policy, a copy of said policy shall be on file in the
property manager’s office in the Building. 

  

	 	14.	 Landlord shall have the right, exercisable without notice and without liability to any tenant, to change the
name and street address of the Building. 

  

	 	15.	 Tenant shall not use the name of the Building for any purpose other than Tenant’s business address; Tenant
shall not use the name of the Building for Tenant’s business address after Tenant vacates the Premises; nor shall Tenant use any picture or likeness of the Building in any circulars, notices, advertisements or correspondence. Tenant shall not
represent itself as being associated with any company or corporation by which the Building may be known. 

  

	 	16.	 No article which is explosive or dangerous is allowed in the Building. 

 

	 	17.	 Canvassing to solicit business from other tenants of the Building is not permitted. 

 

	 	18.	 Tenant shall participate in any recycling programs undertaken by Landlord or required by applicable Laws.

  

	 	19.	 No locks or similar devices shall be attached to any door except by Landlord and Landlord shall have the right
to retain a key to all such locks. Tenant may not install any locks without Landlord’s prior approval, which approval shall not be unreasonably withheld. 

 

	 	20.	 To the extent permitted by law, Tenant shall not cause or permit picketing or other activity which would
interfere with the business of Landlord or any other tenant or occupant of the Building, or distribution of written materials involving its employees in or about the Building, except in those locations and subject to time and other limitations as to
which Landlord may give prior written consent. 

  

	 	21.	 Tenant shall not cook, otherwise prepare or sell any food or beverages in or from the Premises or use the
Premises for housing accommodations or lodging or sleeping purposes except that Underwriters’ Laboratory-approved equipment and microwave ovens may be used in the Premises for heating food and brewing
coffee, tea and similar beverages for Tenant’s employees and visitors provided such use is in compliance with applicable Laws and does not disturb other tenants in the Building with odor, refuse or pests. 

  
 F-2 

	 	22.	 All office equipment of any electrical or mechanical nature shall be placed by Tenant in the Premises in
settings approved by Landlord to absorb or prevent any vibration, noise or annoyance. Tenant shall not permit the use of any apparatus for sound production or transmission in such manner that the sound so transmitted or produced shall be audible or
vibrations therefrom shall be detectable beyond the Premises; nor permit objectionable odors or vapors to emanate from the Premises. 

  

	 	23.	 Tenant shall not construct or place partitions, furniture or other obstructions that interfere with
Landlord’s free access to mechanical installations located in the Building, including air-cooling, fan, ventilating and machine rooms and mechanical and electrical closets, the proper functioning of the
Base Building Systems or the moving of Landlord’s equipment to and from the enclosures containing said installations. Neither Tenant nor any contractor, invitee or licensee of Tenant shall at any time enter said enclosures or tamper with,
adjust, touch or otherwise affect in any manner such mechanical installations 

  

	 	24.	 No floor covering shall be affixed to any floor in the Premises by means of glue or other adhesive without
Landlord’s prior written consent not to be unreasonably withheld. 

  

	 	25.	 Tenant shall comply with all safety, fire protection and evacuation procedures and regulations established by
Landlord or any governmental agency. 

  

	 	26.	 Tenant shall cause all freight to be delivered to or removed from the Building and the Premises in accordance
with the requirements established by Landlord therefor. 

  

	 	27.	 The rules and regulations set forth in Attachment I to this Exhibit, which is by this reference made a part
hereof, are applicable to any Alterations being undertaken by or for Tenant in the Premises pursuant to Section 5.2 of the Lease. 

  
 F-3 

 Attachment I to Exhibit F 

Rules and Regulations for Tenant Alterations 

A.    General 

1.    All Alterations made by Tenant in, to or about the Premises shall be made in accordance with the requirements of this
Exhibit and by contractors or mechanics approved by Landlord. 
 2.    Tenant shall, prior to the commencement of any
work, submit for Landlord’s written approval, complete plans for the Alterations, with full details and specifications for all of the Alterations, in compliance with Section D below. 

3.    Alterations must comply with the Building Code applicable to the Property and the requirements, rules and
regulations and any other governmental agencies having jurisdiction. 
 4.    No work shall be permitted to commence
before Tenant obtains and furnishes to Landlord copies of all necessary licenses and permits from all governmental authorities having jurisdiction. 

5.    All demolition, removals or other categories of work that may inconvenience other tenants or disturb Building
operations, must be scheduled and performed before 7:00 a.m. or after 6:00 p.m. and Tenant shall provide the Building manager with at least 48 hours’ notice prior to proceeding with such work. 

6.    All inquiries, submissions, approvals and all other matters shall be processed through Landlord’s property
manager. 
 7.    All work, if performed by a contractor or subcontractor, shall be subject to reasonable supervision
and inspection by Landlord’s representative. 
 B.    Prior to Commencement of Work 

1.    Tenant shall submit to the property manager a request to perform the work. The request shall include the following
enclosures: 
  

	 	(i)	 A list of Tenant’s contractors and/or subcontractors for Landlord’s approval. 

 

	 	(ii)	 Four complete sets of plans and specifications properly stamped by a registered architect or professional
engineer and meeting the requirements in Section D below. 

  

	 	(iii)	 A properly executed building permit application form. 

 

	 	(iv)	 Four executed copies of the Insurance Requirements Agreement in the form attached to this Exhibit as Attachment
II and made a part hereof from Tenant’s contractor and, if requested by Landlord, from the contractor’s subcontractors. 

  

	 	(v)	 Contractor’s and subcontractor’s insurance certificates, including an indemnity in accordance with
the Insurance Requirements Agreement. 

  

	 	(vi)	 All applicable licenses held by any contractors and subcontractors. 

  
 F-4 

 2.    Landlord will return the following to Tenant: 

 

	 	(i)	 Two sets of plans approved or a disapproved with specific comments as to the reasons therefor (such approval or
comments shall not constitute a waiver of approval of governmental authorities). 

  

	 	(ii)	 Two fully executed copies of the Insurance Requirements Agreement. 

3.    Landlord’s approval of the plans, drawings, specifications or other submissions in respect of any Alterations
shall create no liability or responsibility on the part of Landlord for their completeness, design sufficiency or compliance with requirements of any applicable laws, rules or regulations of any governmental or
quasi-governmental agency, board or authority. Any plan or design approval rights reserved to or exercised by Landlord hereunder are for the sole and exclusive benefit of Landlord to ensure compatibility of
such work with Building systems and Building standards, and such approval does not constitute any representation or warranty whatsoever as to the adequacy, correctness, efficiency or compliance with applicable Law of such plan or design or the work
shown thereon and Landlord is expressly not reviewing Tenant’s plans for such purposes. 
 4.    Tenant shall
obtain a building permit from the Building Department and necessary permits from other governmental agencies. Tenant shall be responsible for keeping current all permits. Tenant shall submit copies of all approved plans and permits to Landlord and
shall post the original permit on the Premises prior to the commencement of any work. 
 C.    Requirements and Procedures 

1.    All structural and floor loading requirements shall be subject to the prior approval of Landlord’s structural
engineer. 
 2.    All mechanical (HVAC, plumbing and sprinkler) and electrical requirements shall be subject to the
approval of Landlord’s mechanical and electrical engineers and all mechanical and electrical work shall be performed by contractors who are engaged by Landlord in constructing, operating or maintaining the Building or are otherwise reasonably
approved by Landlord. When necessary, Landlord will require engineering and shop drawings, which drawings must be approved by Landlord before work is started. Drawings are to be prepared by Tenant and all approvals shall be obtained by Tenant. 

3.    If an operating engineer or master mechanic is required by any applicable Law, such engineer or master mechanic
shall be paid for by Tenant. 
 4.    If shutdown of risers and mains for electrical, HVAC, sprinkler and plumbing work
is required, such work shall be supervised by Landlord’s representative and shall be performed only at times reasonably approved by Landlord. No work will be performed in Building mechanical equipment rooms without Landlord’s approval and
under Landlord’s supervision. 
 5.    Tenant’s contractor shall: 

 

	 	(i)	 have a superintendent or foreman on the Premises at all times; 

 

	 	(ii)	 police the job at all times, continually keeping the Premises orderly; 

 

	 	(iii)	 maintain cleanliness and protection of all areas, including lobbies and walkways. 

  
 F-5 

	 	(iv)	 protect the front and top of all peripheral HVAC units and thoroughly clean them at the completion of work;

  

	 	(v)	 block off supply and return grills, diffusers and ducts to keep dust from entering into the Building air
conditioning system; and 

  

	 	(vi)	 avoid disturbance of other tenants. 

6.    If Tenant’s contractor is negligent in any of its responsibilities, Tenant shall be charged for corrective
work. 
 7.    All equipment and installations must be equal to the standards generally in effect with respect to the
remainder of the Building. Any deviation from such standards will be permitted only if indicated or specified on the plans and specifications and approved by Landlord. 

8.    A properly executed air balancing report signed by a professional engineer shall be submitted to Landlord upon the
completion of all HVAC work. 
 9.    Upon completion of the Alterations, Tenant shall submit to Landlord a permanent
certificate of occupancy and final approval by the other governmental agencies having jurisdiction. 
 10.    Tenant
shall submit to Landlord a final “as-built” set of drawings in Auto-CAD format and one set of blueprints showing all items of the Alterations in full detail.

 11.    Additional and differing provisions in the Lease, if any, will be applicable and will take precedence. 

D.    Standards for Plans and Specifications 

Whenever Tenant shall be required by the terms of the Lease (including this Exhibit) to submit plans to Landlord in connection with any
Alterations, such plans shall include at least the following: 
 1.    Floor plan indicating location of partitions and
doors (details required of partition and door types). 
 2.    Location of standard electrical convenience outlets and
telephone outlets. 
 3.    Location and details of special electrical outlets; e.g., photocopiers, etc. 

4.    Reflected ceiling plan showing layout of standard ceiling and lighting fixtures. Partitions to be shown lightly with
switches located indicating fixtures to be controlled. 
 5.    Locations and details of special ceiling conditions,
lighting fixtures, speakers, etc. 
 6.    Location and specifications of floor covering, paint or paneling with paint
colors referenced to standard color system. 
 7.    Finish schedule plan indicating wall covering, paint, or paneling
with paint colors referenced to standard color system. 
 8.    Details and specifications of special millwork, glass
partitions, rolling doors and grilles, blackboards, shelves, etc. 

  
 F-6 

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

10.    Verified dimensions of all built-in equipment (file cabinets, lockers, plan
files, etc.) 
 11.    Location and weights of storage files. 

12.    Location of any special soundproofing requirements. 

13.    Location and details of special floor areas exceeding 50 pounds of live load per square foot. 

14.    All structural, mechanical, plumbing and electrical drawings, to be prepared by the base building consulting
engineers, necessary to complete the Premises in accordance with Tenant’s Plans. 
 15.    All drawings to be
uniform size (30” x 46”) and shall incorporate the standard project electrical and plumbing symbols and be at a scale of 1/8” = 1’ or larger. 

16.    All drawings shall be submitted in hard-copy paper form (together with a
PDF scanned copy of all paper drawings) and on disk in Auto-CAD Version 2000. 

17.    All drawings shall be stamped by an architect (or, where applicable, an engineer) licensed in the jurisdiction in
which the Property is located and without limiting the foregoing, shall be sufficient in all respects for submission to applicable authorization in connection with a building permit application. 

  
 F-7 

 Attachment II to Exhibit F 

Contractor’s Insurance Requirements 

Building: 
 Landlord: 

Tenant: 
 Premises: 

The undersigned contractor or subcontractor (“Contractor”) has been hired by the tenant named above (hereinafter called
“Tenant”) of the Building named above (or by Tenant’s contractor) to perform certain work (“Work”) for Tenant in the Premises identified above. Contractor and Tenant have requested the landlord named above
(“Landlord”) to grant Contractor access to the Building and its facilities in connection with the performance of the Work, and Landlord agrees to grant such access to Contractor upon and subject to the following terms and
conditions: 
 1.    Contractor agrees to indemnify and save harmless Landlord and its respective officers, employees
and agents and their affiliates, subsidiaries and partners, and each of them, from and with respect to any claims, demands, suits, liabilities, losses and expenses, including reasonable attorneys’ fees, arising out of or in connection with the
Work (and/or imposed by law upon any or all of them) because of personal injuries, bodily injury (including death at any time resulting therefrom) and loss of or damage to property, including consequential damages, whether such injuries to person or
property are claimed to be due to negligence of the Contractor, Tenant, Landlord or any other party entitled to be indemnified as aforesaid except to the extent specifically prohibited by law (and any such prohibition shall not void this Agreement
but shall be applied only to the minimum extent required by law). 
 2.    Contractor shall provide and maintain at its
own expense, until completion of the Work, the following insurance: 
 (a)    “Builder’s All Risk”
insurance in an amount at least equal to 100% of the replacement value of such Alterations. 
 (b)    Workmen’s
Compensation and Employers Liability Insurance covering each and every workman employed in, about or upon the Work, as provided for in and in the amounts required by each and every statute applicable to Workmen’s Compensation and
Employers’ Liability Insurance. 
 (c)    Commercial General Liability Insurance including coverages for Protective
and Contractual Liability (to specifically include coverage for the indemnification clause of this Agreement) for not less than the following limits: 
  

					
	 Personal Injury:
	  	$	5,000,000 per person	 
		  	$	5,000,000 per occurrence	 
		
	 Property Damage:
	  	$	3,000,000 per occurrence	 
		  	$	3,000,000 general aggregate	 

  
 F-8 

 (d)    Commercial Automobile Liability Insurance (covering all owned, non-owned and/or hired motor vehicles to be used in connection with the Work) for not less than the following limits: 
  

					
	 Bodily Injury:
	  	$	3,000,000 per person	 
		  	$	5,000,000 per occurrence	 
		
	 Property Damage:
	  	$	1,000,000 per occurrence	 
		  	$	3,000,000 general aggregate	 

 Contractor shall furnish a certificate from its insurance carrier or carriers to the Building office before
commencing the Work, showing that it has complied with the above requirements regarding insurance and providing that the insurer will give Landlord ten (10) days’ prior written notice of the cancellation of any of the foregoing policies.
At Landlord’s request, the foregoing policies shall name Landlord (and such other persons as Landlord reasonably may request) as additional insureds. 

3.    Contractor shall require all of its subcontractors engaged in the Work to provide the following insurance: 

(a)    Workmen’s Compensation and Employers Liability Insurance covering each and every workman employed in, about or
upon the Work, as provided for in and in the amounts required by each and every statute applicable to Workmen’s Compensation and Employers’ Liability Insurance. 

(b)    Commercial General Liability Insurance including Protective and Contractual Liability coverages with limits of
liability at least equal to the limits stated in paragraph 2(c). 
 (c)    Commercial Automobile Liability Insurance
(covering all owned, non-owned and/or hired motor vehicles to be used in connection with the Work) with limits of liability at least equal to the limits stated in paragraph 2(d). 

Upon the request of Landlord, Contractor shall require all of its subcontractors engaged in the Work to execute an Insurance Requirements
agreement in the same form as this Agreement. 
 Agreed to and executed this day
of            , 20     . 
  

			
	 Contractor:

		
	 By:
	 	  

		
	 By:
	 	  

 By: 

  
 F-9 

 EXHIBIT G 

SNDA 
 SUBORDINATION, NON-DISTURBANCE 
 AND ATTORNMENT AGREEMENT 

THIS AGREEMENT made this 5th day of October, 2018, between RGA REINSURANCE COMPANY, a Missouri corporation (hereinafter called
“Mortgagee”), ARCELLX, INC., a Delaware corporation (hereinafter called “Tenant”) and TFG WEST WATKINS PROPERTY, LLC, a Delaware limited liability company (“Landlord” or “Borrower”). 

W I T N E S S E T H: 

Recitals 

A.    Tenant is the tenant under a lease dated 10/5/18, by and between Tenant and Landlord (said Landlord and its
successors and assigns occupying the position of landlord under the Lease hereinafter called “Landlord”), covering a portion of the Mortgaged Property (hereinafter called the “Demised Premises”). wherein Landlord leased to Tenant
certain premises known as the “Demised Premises” located on the property legally described on Exhibit “A” (the “Mortgaged Property”). 

B.    Mortgagee intends to make or is making a loan (the “Loan”) to Borrower, which will be evidenced by a
Promissory Note (the “Note”) from Borrower to Mortgagee and secured in part by a first deed of trust, mortgage, or deed to secure debt (which is herein called the “Mortgage”). The Mortgage, the Note and all other documents and
instruments evidencing and/or securing the Note or now or hereafter executed by Borrower or others in connection with or related to the Loan including any assignments of leases and rents, other assignments, security agreements, financing statements,
guarantys, indemnity agreements (including environmental indemnity agreements), letters of credit, or escrow/holdback arrangements, together with all amendments or modifications thereof, are sometimes herein collectively referred to as the
“Loan Documents”. 
 C.    Tenant has been requested to, and is willing to enter into this agreement as part
of the transaction for the Loan from Lender to Borrower, which will be of benefit to Tenant by preserving and maintaining the financial standing of Borrower with regard to the Mortgaged Property and the Demised Premises. 

  
 G-1 

 Agreements 

NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained, Mortgagee and Tenant hereby agree and covenant as
follows: 
 1.    The Lease now is, and shall at all times continue to be, subject and subordinate in each and every
respect, to the Mortgage and to any and all liens, interests and rights created thereby and to any and all increases, renewals, modifications, extensions, and/or consolidations of the Mortgage, provided that any and all such increases, renewals,
modifications, extensions, and/or consolidations shall nevertheless be subject to the terms of this Agreement. 

2.    So long as Tenant is not in default (following notice and beyond any period given Tenant to cure such default) in
the payment of rent or additional rent or in the performance of any term, covenant or condition of the Lease on Tenant’s part to be performed, (a) Tenant’s possession of the Demised Premises and Tenant’s rights and privileges
under the Lease, shall not be disturbed or interfered with by Mortgagee in the exercise of its rights under the Mortgage to foreclose said Mortgage and/or to have the Mortgaged Property sold at trustee’s sale, and (b) Mortgagee will not
join Tenant as a party defendant in any action or proceeding for the purposes of terminating Tenant’s interest and estate under the Lease because of any default under the Mortgage, however Mortgagee may join Tenant as a party defendant in any
action or proceeding to enforce the Mortgage or any other instrument given as security for the loan to Landlord, if such is done only for purposes of procedure and required completeness and not for the purposes of canceling the Lease or
Tenant’s rights under such Lease. The term “Mortgagee” shall include all persons deriving title to the Mortgaged Property by, through or under Mortgagee. 

3.    In the event any proceedings are brought for the foreclosure of the Mortgage, or if the Mortgaged Property be sold
pursuant to a trustee’s sale under the Mortgage or if the Mortgagee becomes owner of the Mortgaged Property by acceptance of a deed or assignment in lieu of foreclosure or otherwise, Tenant shall attorn to the purchaser or Mortgagee, as the
case may be, upon any such foreclosure sale or trustee’s sale or acceptance by Mortgagee of a deed or assignment in lieu of foreclosure and Tenant shall recognize such purchaser or Mortgagee, as the case may be, as the Landlord under the Lease.
Such attornment shall be effective and self-operative without the execution of any further instrument on the part of any of the parties hereto. Tenant agrees, however, to execute and deliver at any time and from time to time, upon the request of
Landlord or of any holder(s) of any of the indebtedness or other obligations secured by the Mortgage or any such purchaser, any instrument or certificate which, in the reasonable judgment of Landlord or of such holder(s) or such purchaser, may be
necessary or appropriate in any such foreclosure proceeding or otherwise to evidence such attornment. 
 4.    If
Mortgagee shall succeed to the interest of Landlord under the Lease in any manner, or if any purchaser acquires the Demised Premises upon any foreclosure of the Mortgage or any trustee’s sale under the Mortgage, Mortgagee or such purchaser, as
the case may be, shall have the same remedies by entry, action or otherwise in the event of any default by Tenant (following notice and beyond any period given Tenant to cure such default) in the payment of rent or additional rent or in the
performance of any of the terms, covenants and conditions of the Lease on Tenant’s part to be performed that Landlord had or would have had if Mortgagee or such purchaser had not succeeded to the interest of Landlord. From and after any such
attornment, Mortgagee or such purchaser shall be bound to Tenant under all the terms, covenants, and conditions of the Lease, and Tenant shall, from and after the succession to the interest of Landlord under the Lease by Mortgagee or such purchaser,
have the same remedies against Mortgagee or such purchaser for the breach of an agreement contained in the Lease that Tenant might have had 

  
 G-2 

 
under the Lease against Landlord if Mortgagee or such purchaser had not succeeded to the interest of Landlord; provided, however, the Mortgagee or such purchaser shall not be: 

(a)     liable for any act or omission of any prior landlord (including Landlord), except to the extent such act or
omission constitutes a continuing default under the Lease and Mortgagee shall fail to cure or remedy the same within thirty (30) days after notice from Tenant specifying such default, or if such continuing default is of such a nature that
Mortgagee cannot reasonably remedy the same within such thirty (30) day period, Mortgagee shall fail to commence promptly (and in any event within such thirty (30) day period) to remedy the same and to prosecute such remedy to completion
with diligence and continuity; or 
 (b)     subject to any offsets or defenses which Tenant might have against any
prior landlord (including Landlord); or 
 (c)     bound by any rent or additional rent which Tenant might have paid for
more than the current month to any prior landlord (including Landlord); or 
 (d)     bound by any amendment or
modification of the Lease made without Mortgagee’s consent; or 
 (e)     liable for any security deposit, rental
deposit or similar deposit given by Tenant to a prior landlord (including Landlord) unless such deposit was actually paid over to Mortgagee or such purchaser by the prior landlord; or 

(f)     liable for any moving, relocation or refurbishment allowance or any construction of or payment of allowance for
tenant improvements to the Demised Premises or the Mortgaged Property or any part thereof for the benefit of Tenant, other than with respect to the continuing maintenance and repair obligations under the Lease; or 

(g)     liable for any repairs or replacements to the Mortgaged Property or the Demised Premises arising prior to the date
Mortgagee takes possession of the Mortgaged Property, unless the failure to make such repairs or replacements continues following the succession to the interest of Landlord under the Lease by Mortgagee or such purchaser. 

5.    Nothing herein contained is intended, nor shall it be construed, to abridge or adversely affect any right or remedy
of Landlord under the Lease in the event of any default by Tenant (following notice and beyond any period given Tenant to cure such default) in the payment of rent or additional rent or in the performance of any of the terms, covenants or conditions
of the Lease on Tenant’s part to be performed. 
 6.    This Agreement and the Lease may not be amended or modified
orally or in any manner other than by an agreement in writing signed by the parties hereto or their respective successors in interest. This Agreement shall inure to the benefit of and be binding upon the parties hereto, their successors and assigns,
and any purchaser or purchasers at foreclosure of the Mortgaged Property, and their respective heirs, personal representatives, successors and assigns. 

  
 G-3 

 7.    Tenant represents that it has no right or option of any nature to
purchase the Mortgaged Property or any portion of the Mortgaged Property or any interest in the Borrower. To the extent Tenant has or acquires any such right or option, these rights or options are acknowledged to be subject and subordinate to the
Mortgage and are waived and released as to Mortgagee and any purchaser of the Mortgaged Property under and/or following a trustee’s sale. 

8.    To the extent that the Lease shall entitle the Tenant to notice of any mortgage, and/or the address of the
Mortgagee, this Agreement shall constitute such notice to the Tenant with respect to the Mortgage and to the address of the Mortgagee. So long as the Mortgage on the premises remains outstanding, Tenant will deliver to Mortgagee a copy of all
notices permitted or required to be given to Landlord by Tenant pursuant to which Tenant proposes to abate or reduce the rental payable under the Lease or to terminate or cancel the Lease, and that no such notices to Landlord shall be effective
against Mortgagee, unless a copy of such notice is also delivered to Mortgagee. At any time before the rights of Landlord shall have been forfeited or adversely affected because of any default or failure of performance under the Lease as therein
provided, Mortgagee shall have the right (but not the obligation) to cure such default or failure of performance within thirty (30) days from Mortgagee’s receipt of such written notice from Tenant stating the nature of such default or
failure of performance, or such longer time as may be reasonably required, provided that Mortgagee commences to cure within such thirty (30) day period and diligently pursues such cure to completion. 

9.    Tenant agrees to pay all rents directly to Mortgagee immediately upon notice that Mortgagee is exercising its rights
to such rents under the Mortgage or any other loan document executed in connection with the Mortgage, including but not limited to, any assignment of leases and rents, following a default by Landlord or other applicable party beyond any applicable
cure period. Landlord consents to such direct payments and agrees that all such payments shall be credited to Tenant’s rental obligations under the Lease. 

10.    All notices to be sent hereunder shall be sent by certified mail, return receipt requested, by a nationally
recognized overnight courier, or shall be personally delivered to the respective parties at the following addresses: 
  

			
	If to Mortgagee:	  	RGA Reinsurance Company
		  	16600 Swingley Ridge Road
		  	Chesterfield, Missouri 63017
		  	Attn: Mortgage Loan and Real Estate Department
		
	If to Tenant:	  	Arcellx, Inc.
		  	25 West Watkins Mill Road
		  	Gaithersburg, Maryland 20878
		  	Attention: Chief Business Officer and Head of Finance

 or to such other address as hereafter shall be designated in writing by the applicable party sent in accordance herewith. Any
such notice shall be deemed to have been given and received either at the time of personal delivery or, in the case of delivery service or mail, as of the date of first attempted delivery at the address and in the manner provided herein. 

  
 G-4 

 11.    This Agreement shall be construed, interpreted and enforced in
accordance with the laws of the State of Maryland. 
 12.    This Agreement may be executed in multiple counterparts,
and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed to be one and the same instrument with the same signature as if all parties to this Agreement had signed the same signature page.

 IN WITNESS WHEREOF, the parties hereto have hereunto caused this Agreement to be duly executed as of the day and year first above
written. 
  

									
	MORTGAGEE:	 		 	TENANT:
			
	RGA REINSURANCE COMPANY	 		 	ARCELLX, INC.
					
	By:	 	 /s/ Christopher Dolan
	 		 	By:	 	 /s/ David M. Hilbert

	Name:	 	Christopher Dolan	 		 	Name:	 	David M. Hilbert
	Title:	 	VP Portfolio Manager	 		 	Title:	 	President and CEO
				
	LANDLORD:	 	        	 		 	
				
	TFG WEST WATKINS PROPERTY, LLC	 		 		 	
					
	By:	 	 /s/ R. Scott Macphee
	 		 		 	
	Name:	 	R. Scott Macphee	 		 		 	
	Title:	 	President	 		 		 	

  
 G-5 

 

 

  
 H-1

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