Document:

EX-10.16

 Exhibit 10.16 

OFFICE LEASE AGREEMENT 
  

 
 Jutland 4141 Investments, Ltd 

DBA Chandler Office Center 
 and

 Everspin Technologies, Inc. 

(Tenant) 
  

 
 INDEX 

 

			
	ARTICLE I	 	 FUNDAMENTAL LEASE PROVISIONS

	ARTICLE II	 	 TERM

	ARTICLE III	 	 RENT

	ARTICLE IV	 	 USE OF PREMISES

	ARTICLE V	 	 INSURANCE/INDEMNIFICATION

	ARTICLE VI	 	 IMPROVEMENTS TO PREMISES

	ARTICLE VII	 	 MAINTENANCE AND SERVICES

	ARTICLE VIII	 	 FINANCIAL INFORMATION

	ARTICLE IX	 	 CASUALTIES

	ARTICLE X	 	 CONDEMNATION

	ARTICLE XI	 	 ASSIGNMENT/SUBLETTING

	ARTICLE XII	 	 RULES & REGULATIONS

	ARTICLE XIII	 	 MORTGAGE LENDERS

	ARTICLE XIV	 	 DEFAULT AND REMEDIES

	ARTICLE XV	 	 QUIET ENJOYMENT

	ARTICLE XVI	 	 NOTICES

	ARTICLEXVII	 	 GENERAL

		
	EXHIBIT A	 	 Floor Plan of Premises

	EXHIBIT B	 	 Improvements to Premises

	EXHIBIT C	 	 Rules and Regulations

  
 1. 

 OFFICE LEASE AGREEMENT 

THIS OFFICE LEASE AGREEMENT (“Lease”) is made this January 7th day of January, 2011, by and between JUTLAND 4141 INVESTMENTS, LTD., dba
Chandler Office Center (the “Landlord”) and EVERSPIN TECHNOLOGIES, INC. (the “Tenant”). 
 WITNESSETH, that for good and
valuable consideration, the Landlord hereby leases to the Tenant, and the Tenant hereby leases from the Landlord, the Premises (defined herein) upon all upon the following terms and conditions: 

ARTICLE I - FUNDAMENTAL LEASE PROVISIONS 

§1.01 Landlord. Jutland 4141 Investments, Ltd., dba Chandler Office Center a California Limited Partnership 

§1.02 Tenant. Everspin Technologies, Inc., a Delaware corporation 

§1.03 Premises. That certain commercial space currently identified as located in the City of Chandler, County of Maricopa, State
of Arizona, containing approximately 8,464 rentable square feet in Suite # 220. The Premises are shown in Exhibit A. 
 §1.04
Building. That certain commercial building currently identified as located at 1347 North Alma School Road, City of Chandler, County of Maricopa, State of Arizona, 

§1.05 Project. Those three certain commercial buildings currently identified as located at 1347 North Alma School Road, 1351 North
Alma School Road, and 1331 North Alma School Road, City of Chandler, County of Maricopa, State of Arizona, 
 §1.06 Lease Term.
89 full calendar months 
 §1.07 Commencement Date. The date when all of the following have occurred: (i) all of the
Improvements to Premises be constructed by Landlord have been substantially completed in accordance with Exhibit B, (ii) a certificate of occupancy and/or a conditional use permit or other such document has been issued for the Premises by the
applicable governing authority, if required, and (iii) Landlord has delivered the Premises to Tenant. “Substantial completion” shall be defined as completion of all Improvements to Premises subject only to the completion of minor
punch-list items that do not interfere with Tenant’s use and occupancy of the Premises 
 §1.08 Expiration Date. The day
immediately prior to the 89 month anniversary of the Commencement Date; provided that if the Commencement Date is not the first day of a calendar month, the Expiration Date shall be the last day of the calendar month in which the 89 month
anniversary of the Commencement Date occurs 
 §1.09 Rent Commencement Date. The day immediately prior to the five month
anniversary of the Commencement Date; provided that if the Commencement Date is not the first day of a calendar month, the Rent Commencement Date shall be the last day of the calendar month in which the five month anniversary of the Commencement
Date occurs. 

  
 2. 

 §1.10 Base Rent. Month 01 shall mean the first full calendar month of the Lease Term
plus any partial calendar month in which the Commencement date occurs. 
 Months 01-05: $00.00 per rentable sq. ft., full service. 

Months 06-17: $15.00 per rentable sq. ft., full service 

Months 18-29: $16.00 per rentable sq. ft., full service 

Months 30-41: $17.00 per rentable sq. ft., full service 

Months 42-53: $18.00 per rentable sq. ft., full service 

Months 54-65: $19.00 per rentable sq. ft., full service 

Months 66-77: $20.00 per rentable sq. ft., full service 

Months 78-89: $21.00 per rentable sq. ft., full service 

*plus all applicable taxes 

§1.11 Sales Tax. In addition to Rent, Tenant agrees to pay any excise, privilege or Sales Taxes, either state, local or federal,
or any tax levied on the rental or the receipt thereof (not including net income taxes). 
 §1.12 Annual Rent Increases.
Increases will be per square foot per annum and payable monthly according to the rental schedule in Section 1.08 above. 
 §1.13
Base Year. 2011. 
 §1.14 Percentage of Operating Costs. For Building Operating Costs, a li-action, the numerator of
which is the total rentable area of the Premises and the denominator of which is the total rentable area of the Building. For Project Operating Costs, a fraction, the numerator of which is the total rentable area of the Premises and the denominator
of which is the total rentable area of the Project. 
 §1.15 Addresses for Notices. 

 

			
	 Landlord:
	  	Jutland 4141 Investments, Ltd.
		  	dba Chandler Office Center
		  	1347 North Alma School Road Suite #210
		  	Chandler, AZ
		
	 Tenant:
	  	Premises
		
	 With a copy to:
	  	Snell & Wilmer L.L.P.
		  	One Arizona Center
		  	Phoenix, AZ 85004-2202
		  	Attn: Dan Mahoney

 §1.16 Permitted Use. The primary use of the Premises shall be general office use. 

§1.17 Security Deposit. $16,500. 

§1.18 Credit Enhancement. See Article VIII. 

  
 3. 

 ARTICLE II - TERM 

§2.01 Term. This Lease shall begin on the Commencement Date. In the event that the Tenant enters into occupancy of the Premises
prior to the Commencement Date for the purpose of constructing improvements or installing fixtures therein (and without conducting business therein), then all terms of this Lease except those regarding the payment of rent and other charges shall
apply to such occupancy. 
 §2.02 Confirmation. Landlord shall, within 30 days after the commencement of the Term, forward to
Tenant in writing the actual dates of the Commencement Date and the expiration of the Term and Tenant shall countersign the document. 

§2.03 Surrender. The Tenant shall at the expiration of the Term or any earlier termination of this Lease (a) promptly
surrender to the Landlord possession of the Premises, including any fixtures or other improvements which under the provisions of this Lease are property of the Landlord, all in good order and repair (ordinary wear and tear excepted) and broom clean,
(b) remove from the Premises the Tenant’s signs, goods and effects and any machinery, trade fixtures and equipment used in conducting the Tenant’s trade or business and not owned by the Landlord located at the Premises or the Building
and (c) repair any damage to the Premises or the Building caused by such removal. Notwithstanding anything contained herein to the contrary, Tenant shall not be required to remove any wiring or cabling serving the Premises. 

§2.04 Holding Over. If the Tenant continues to occupy the Premises beyond the expiration or of the Term or any earlier termination
of this Lease and Landlord consents to such continuation, such occupancy shall be a month to month tenancy subject to all of the other terms and conditions contained in this Lease, except that the Base Monthly Rent payable during the period of such
occupancy shall be equal to one and one-quarter times (125%) the amount of the Base Monthly Rent which was last in effect during the Term. Nothing in the foregoing shall be deemed in any way to limit or impair the Landlord’s right to
immediately evict the Tenant or exercise its other rights and remedies under the provisions of this Lease or applicable law, including the collection of consequential and other damages, on account of the Tenant’s occupancy of the Premises
without having obtained Landlord’s prior consent. 
 ARTICLE III - RENT 

§3.01 Base Rent. Tenant shall pay a minimum annual rental in each one-year period during the Term hereof which shall be referred
to hereinafter as “Base Rent.” Base Rent shall be calculated and increased for each such year as set forth in the Fundamental Lease Provisions. 

§3.02 Operating Costs. Tenant shall be obligated to pay to Landlord a share of the operating costs and expenses incurred in
connection with the Project as follows: 
 (A) Tenant shall pay to Landlord in each year or part year during the Term a proportionate share
of the amount, if any, by which the Operating Costs (defined below) applicable to the Project in each such year or part year exceeds the Operating Costs allocable pro rata to the Project in the Base Year (defined below). No Operating Costs shall be
due during the Base Year. 

  
 4. 

 (B) For these purposes, the fraction used in determining the Tenant’s proportionate share of
such items shall be the Pro Rata Share set forth in the Fundamental Lease Provisions. Notwithstanding the foregoing, in calculating the Tenant’s Pro Rata Share of Operating Costs for any year, Landlord shall have the right to calculate such
charges on the basis of the Building or the entire Project with respect to any of such Costs, provided that in making such calculations, the denominator used in determining the Tenant’s Pro Rata Share shall include the total rentable square
footage of the Building or the total rentable square footage in the entire Project, respectively. 
 (C) The Base Year shall be the calendar
year as defined in section 1.13 above. 
 (D) The “Operating Costs” shall mean all expenses, costs and disbursements of every kind
and nature incurred in connection with the ownership, management, maintenance, repair, replacement and operation of the Building and Project, including but not limited to the following: (1) cost of any utilities ‘which are not submetered
directly to tenant spaces; (2) cost of repairs and general maintenance to the Building, (3) costs of repairs, replacements and general maintenance to the parking areas, all sidewalks and other common facilities, and all other improvements
at the Project. For purposes of this provision, Operating Costs shall not include (a) the cost of capital improvements (except as expressly provided above), (b) the costs of tenant improvements within tenant spaces, (c) ground rent or
debt service, (d) depreciation, (e) expenses incurred in leasing, obtaining new tenants or leasing commissions, (f) accounting or legal services (g) costs or expenses for which Landlord is or will be reimbursed or indemnified
(whether by an insurer, condemnor, tenant or otherwise), should Landlord be reimbursed, Landlord will credit reimbursement back to Tenant, (h) cost of correcting any applicable building or fire code violation(s) or violations of any other
applicable law relating to the Project, and/or the cost of any penalty or fine incurred for noncompliance with the same, if such violation exists as of the Commencement Date and Landlord is deemed responsible for the violation; or (i) costs for
entertainment or building promotional expenses. 
 (E) In addition to the above-listed expense exclusions, Landlord has agreed that in no
event will the total controllable Operating Costs passed through to Tenant in any year be greater than five percent (5%) more than such expenses passed through to Tenant during the prior year (“Expense Cap”). For purposes of this
Section, “controllable Operating Costs” shall include all Operating Costs other than taxes, utilities and insurance. Calculation of the Expense Cap shall be done on a cumulative basis from the Base Year. 

§3.03 When Due and Payable. 

(A) All rental obligations set forth in the foregoing provisions and elsewhere in this Lease, except for Base Rent, shall be referred to
hereinafter as “Additional Rent.” All Base Rent and Additional Rent are sometimes hereinafter together referred to as “Rent.” 

(B) The Base Rent for each year (or part thereof) during the Term shall be due and payable in 12 consecutive, equal monthly installments, in
advance, on the first day of each calendar month during the Term, provided that the installment of Rent for the first full calendar month of the Term shall be due upon execution of this Lease. 

  
 5. 

 (C) Tenant shall pay all Additional Rent within 30 days after being billed therefor by Landlord.
However, Landlord may, at its discretion, (a) make from time to time during the Term a reasonable estimate of the Additional Rent which may become due for any year, (b) require the Tenant to pay to the Landlord such Additional Rent in
equal installments at the time and in the manner that the Tenant is required hereunder to pay monthly installments of Base Rent, and (c) at the Landlord’s reasonable discretion, increase or decrease from time to time during such year the
amount initially estimated for such year, all by giving the Tenant written notice thereof. In such event, the Landlord shall cause the actual amount of such Additional Rent to be calculated, and the Tenant or the Landlord shall within 30 days pay to
the other the amount of any deficiency or overpayment, whichever the case may be. 
 (D) Landlord shall have the right to apply any payment
of Rent by Tenant to any amounts outstanding in any order at Landlord’s sole discretion. Acceptance by Landlord of any partial payment of Rent shall not be deemed a waiver or satisfaction of the Tenant’s obligation to timely pay when due
all remaining amounts of Rent hereunder, which shall remain due in their entirety according to the terms of this Lease. 
 §3.04
Proration. All items of Rent shall be prorated for any month during the Term which is not a full calendar month or in which two different rental rates are applicable. If only part of any calendar year falls within the Term, the amount
computed as Additional Rent for such calendar year under the foregoing provisions of this section shall be appropriately prorated, but the expiration of the Term before the end of a calendar year shall not limit the Tenant’s obligation
hereunder to pay the prorated portion of Additional Rent applicable to that portion of such calendar year falling within the Term. 

§3.05 Late Payment. Each such payment of Rent shall be made promptly when due, without any demand, deduction or setoff whatsoever,
at the place directed by Landlord. Any payment of Rent not made when due (subject to a 5 clay grace period), shall be subject to a late payment charge, for each occurrence of delinquency, of 5% of the amount overdue and payable. This late payment
charge shall be in addition to the interest provided for above and shall be due and payable with the next succeeding Rent payment. The obligation to pay Rent shall survive termination of this Lease. 

§3.06 Security Deposit. Upon signing this Lease, Tenant shall deposit with the Landlord the Security Deposit, which shall be
retained by the Landlord as security for the Tenant’s payment of Rent and performance of all of its other obligations under the provisions of this Lease. On the occurrence of an Event of Default (as defined herein), the Landlord shall be
entitled, at its sole discretion, to (i) apply any or all of such sum in payment of any Rent then due and unpaid, any expense incurred by the Landlord in curing any such default, and/or any damages incurred by the Landlord by reason of such
default (including but not limited to attorneys’ fees), in which event Tenant shall immediately restore the amount so applied, and/or (ii) to retain any or all of such sum in liquidation of any or all damages suffered by the Landlord by
reason of such default. However, the foregoing shall not serve in any event to limit the rights, remedies and damages accruing to Landlord under Article XIII or any other provision of this Lease on account of default by Tenant. Within 90 days after
the expiration or termination of this Lease, Lessor shall return that portion of the Security Deposit not used or applied by Lessor. No part of the Security Deposit shall be considered to be held in trust, to bear interest or to be prepayment for
any monies to be paid by Lessee under this Lease. 

  
 6. 

 §3.07 If Tenant’s actual Percentage of Operating Costs for a given year exceeds the
estimated payments made by Tenant for such year, Tenant shall pay to Landlord the deficiency within 30 days following, receipt of notice to Tenant of the amount due and a statement of accounting for such expenses. If Tenant’s estimated payments
for a given year exceed Tenant’s actual Percentage of Operating Costs for such year, Tenant shall be entitled to offset the excess against the next rental payments due to Landlord under this Lease if the Lease is still in effect. If the Lease
has terminated, any such excess shall be refunded to Tenant at the same time that Landlord issues its statement of accounting to Tenant. Landlord will notify Tenant by March 1 of each year with the Tenants actual Pro-Rata share of Operating
Costs. 
 §3.08 The amount of actual Operating Costs for the Base Year shall be determined by dividing the greater of
(A) (i) Operating Costs actually paid or incurred by Landlord for the Base Year or (ii) Operating Costs that would have been paid or incurred if 95% of the rentable area of the Project were occupied for the Base Year by (B) the
rentable area of the Project. 
 §3.09 Landlord shall maintain books and records of all Operating Costs and shall permit Tenant to
audit Landlord’s statements for any annual period no earlier than April 1 of the following year for any previous calendar year and provided that Tenant has paid actual Percentage of Operating Costs in any previous year during Tenants lease
term. If Tenant elects to audit such books and records, Landlord shall reasonably cooperate with Tenant, and any deficiency or overpayment disclosed by such audit shall be promptly paid or refunded the case may be. To the extent that an audit
discloses calculation errors or misstatements which affect prior years, an expense adjustment will be made which will reflect all years affected by such errors. If any such audit discloses that the total Operating Costs billed to Tenant were
overstated by more than 5% of the total actual Operating Costs, Landlord shall reimburse Tenant for the reasonable costs of such audit. 

ARTICLE IV - USE OF PREMISES 

§4.01 Use. Tenant shall only use the Premises for the Permitted Use, and for no other use or purpose. Tenant shall be permitted to
change its trade name to another affiliated entity Trade Name with the prior written approval of Landlord whose approval will not be unreasonably withheld. 

§4.02 Laws. Tenant shall comply with any and all federal, state and local laws, ordinances and regulations, including but not
limited to the Americans With Disabilities Act, applicable to the Premises, to the Tenant’s use of the Premises or to any common areas of the Project, and Tenant shall make any changes or improvements to the Premises required thereby, subject
to §6.03 hereof. 
 §4.03 Common Areas & Parking. The Landlord hereby grants to the Tenant a non-exclusive license
to use all other common areas of the Building and the surrounding grounds on which the Building is located which are manifestly designed and intended for common use by the occupants of the Building, all for pedestrian ingress and egress to and from
the Premises. 

  
 7. 

 
Such license shall be exercised in common with the Landlord and other tenants and their respective employees and invitees and in accordance with the Rules and Regulations promulgated from time to
time pursuant to the provisions of Article XII. In addition, such non-exclusive license shall include the Parking Spaces, and Tenant shall pay the Parking Charges, if any, subject to section 17.15 below, as Additional Rent, on a monthly basis at the
times and in the manner that all other Additional Rent is paid hereunder. At all times, Landlord shall have the right to rearrange, improve, reduce, replace or otherwise alter the parking areas and any other common areas at the Project, as well as
any utility or mechanical systems and equipment at the Premises, Building or Project., provided that Landlord shall not permanently obstruct access to the Premises (beyond reasonable obstructions arising during the construction process) in making
any such changes to the common areas, systems or equipment. 
 §4.04 Right of Entry. Landlord and its agents and contractors
shall be entitled to enter the Premises at any time (a) to inspect the Premises, (b) to exhibit the Premises to any existing or prospective purchaser, tenant or mortgagee thereof, (c) to make any alteration, improvement or repair to
the Building or the Premises, or (d) for any other purpose relating to the operation or maintenance of the Project, all provided that the Landlord shall (1) give the Tenant at least 24 hours’ prior notice of its intention to enter the
Premises (unless doing so is impractical or unreasonable because of emergency), and (2) use reasonable efforts to avoid interfering with the Tenant’s use and enjoyment thereof. 

ARTICLE V - INSURANCE/INDEMNIFICATION 

§5.01 Tenant’s Insurance. The Tenant shall procure and maintain, at its expense and throughout the Term, the following
insurance: 
 (a) Lessee shall, at Lessee’s expense, obtain and keep in force during the term of this Lease a policy of Commercial
General Liability insurance utilizing an Insurance Services Office standard form with Broad Form General Liability Endorsement, or equivalent, in an amount of not less than $1,000,000 per occurrence of bodily Injury and property damage combined and
shall insure Lessee with Lessor as an additional insured against liability arising out of the use, occupancy or maintenance of the Premises. Compliance with the above requirement shall not, however, limit the liability of Lessee hereunder. 

(b) Lessee shall, at Lessee’s expense, obtain and keep In force during the term of this Lease for the benefit of Lessee, replacement cost
fire and extended coverage insurance, with vandalism and malicious mischief, sprinkler leakage endorsements, in an amount sufficient to cover not less than 100% of the full replacement cost, as the same may exist from time to time, of all of
Lessee’s personal property, fixtures, equipment and tenant improvements. 
 (c) Business income and interruption insurance with limits
of at least 100% of Tenant’s gross profit for a 12 month period. 
 Each liability insurance policy described above (except
employer’s liability policies) shall name Landlord, Landlord’s agent and advisor, Landlord’s property manager, and any Mortgagees (defined in §13.01 below), and expressly including any trustees, directors, officers, employees or
agents of any such entities, all as additional insureds. Each property 

  
 8. 

 
insurance policy described above shall name Landlord as loss payee with respect to any permanently affixed improvements and betterments to the Premises. All such policies shall (i) be issued
by insurers licensed to do business in the state in which the Project is located, (ii) be issued by insurers with a current rating of “A-” “VII” or better in Best’s Insurance Reports, (iii) be primary without right
of contribution from any of Landlord’s insurance, (iv) be written on an occurrence (and not claims-made) basis, and (v) be uncancellable without at least 30 days’ prior written notice to the Landlord and any Mortgagee (10 days
for non-payment of premiums). At least 15 days before the Commencement Date (or, if earlier, the date Tenant first enters into the Premises for any reason), Tenant shall deliver to the Landlord certificates of insurance satisfactory to Landlord for
each such policy required above. 
 Within 10 days after any such policy expires, Tenant shall deliver to the Landlord a certificate of renewal evidencing
replacement of the policy. The limits of insurance required by this Lease or as otherwise carried by Tenant shall not limit the liability of Tenant or relieve Tenant of any obligations under this Lease, except to the extent provided in any waiver of
subrogation contained in this Lease. Tenant shall have sole responsibility for payment of all deductibles. 
 §5.02 Landlord’s
Insurance. The Landlord shall maintain throughout the Term all-risk or fire and extended coverage insurance upon the Building in an amount equal to the greater of the full replacement cost or the amount required by the Mortgagee. The premiums
for such insurance and of each endorsement thereto shall be deemed to be part of the Operating Costs a share of which is to be paid by Tenant as Additional Rent hereunder. Furthermore, Tenant shall pay, as Additional Rent and as billed by Landlord,
the entire amount of any increase in premiums for any insurance obtained by Landlord that occurs solely due to the particular use of the Premises by Tenant. 

§5.03 Waiver of Subrogation. Notwithstanding anything to the contrary in this Lease, Landlord and Tenant each waives all rights to
recovery, claims or causes of action against the other and the other’s agents, trustees, officers, directors and employees on account of any loss or damage which may occur to the Premises, the Project or any improvements thereto or to any
personal property of such party to the extent such loss or damage is caused by a peril which is required to be insured against under this Lease, regardless of the cause or origin (including negligence of the other party). Landlord and Tenant each
covenants to the other that, to the fullest extent permitted by law, no insurer shall hold any right of subrogation against the other party. Tenant covenants to Landlord that all policies of insurance maintained by Tenant respecting property damage
shall permit such waiver of subrogation, and Tenant agrees to advise all of its insurers in writing of the waiver. 
 §5.04
Indemnification. Except for items subject to Article 14 below, Tenant hereby agrees to indemnify and hold Landlord and Landlord’s agents and advisors harmless from and against any cost, damage, claim, liability or expense (including
attorney’s fees) incurred by or claimed against Landlord, directly or indirectly, as a result of or liability for any injury (including death) or damage to any person or property whatsoever, other than that caused by the gross negligence or
willful misconduct of Landlord, its agents, servants and employees: (a) occurring on or at the Premises; or (b) occurring as a result of any act, neglect, fault or omission to act on the part of Tenant, its agents, contractors, employees,
or invitees. Furthermore, Tenant hereby releases and absolves Landlord from any liability for theft, damage or other loss, regardless of the cause or reason, in connection with any furniture, fixtures, machinery, equipment, inventory, any vehicles
in the parking areas, or other personal property of any kind, belonging to Tenant or to any of its employees, agents, invitees or licensees. 

  
 9. 

 ARTICLE VI - IMPROVEMENTS TO PREMISES 

§6.01 Initial Improvements. Certain improvements shall be constructed in the Premises by Landlord as described in Exhibit B hereto
(the “Space Improvements”) for the purpose of initially preparing the Premises for occupancy by Tenant. Prior to the Commencement Date, any work performed by Tenant or any fixtures or personal property moved into the Premises shall be at
Tenant’s own risk. Landlord shall use commercially reasonable efforts to complete such improvements on or before the Commencement Date set forth in the Fundamental Lease Provisions, but Landlord shall have no liability to the Tenant hereunder
if prevented from doing so for any reason whatsoever, including but not limited to strike or other labor troubles, governmental restrictions, failure or shortage of utility service, national or local emergency, accident, flood, fire or other
casualty, adverse weather condition, other act of God, inability to obtain a building permit or a certificate of occupancy, or any other cause beyond the Landlord’s reasonable control. In such event, the Commencement Date and expiration date of
the Term shall be postponed for a period equaling the length of such delay. If any delay in completion of the Space Improvements or in delivering possession of the Premises is deemed to be caused by Landlord’s gross negligence and as a result,
the Initial Improvements are not completed by July 31, 2011, Tenant shall have the right to cancel this Lease and have no other obligations hereto. However, if any delay in completion of the Space Improvements or in delivering possession of the
Premises to Tenant are caused by Tenant, including Tenant’s requesting changes in the Space Improvements which delay completion thereof, then Tenant shall commence all of its obligations hereunder (including the payments of Rent), and all terms
herein shall be effective and binding, on that date reasonably calculated by Landlord or its contractor as the date on which Landlord would have substantially completed the Space Improvements if not for such delay. 

§6.02 As-is Condition. Except for any work described in Exhibit B which is to be performed by Landlord, Tenant acknowledges and
agrees that the Premises shall be leased hereunder “as-is, where-is” without warranty as to physical condition, environmental condition, zoning, suitability for a particular purpose or any other matter whatsoever. 

§6.03 Tenant’s Alterations. The Tenant shall not make any alteration, addition or improvement to the Premises, whether
structural or nonstructural and including any signs or other items which may be visible from the exterior of the Premises, without the Landlord’s prior written consent. If the Landlord consents to any such proposed alteration, addition or
improvement, it shall be made at the Tenant’s sole expense (and the Tenant shall hold the Landlord harmless from any cost incurred on account thereof), and at such time and in such manner as to not unreasonably interfere with the use and
enjoyment of the remainder of the Project by any other tenant or other person. All such alterations and improvements shall comply in all respects with any and all applicable federal, state and local laws, ordinances and regulations, including but
not limited to the Americans With Disabilities Act and regulations promulgated thereunder. In addition, if and to the extent required by Landlord, Tenant shall remove any alterations or improvements to the Premises, whether deemed a part of the real
‘property and thereby owned by Landlord or otherwise, and Tenant shall repair any damage 

  
 10. 

 
resulting from such removal, all at Tenant’s expense. Furthermore, Tenant shall indemnify Landlord from all damages, losses or liability arising from such alterations or improvements, or the
construction or removal thereof, by Tenant or by any other party other than Landlord. Without securing Landlord’s prior consent, Tenant shall be permitted to hang pictures and shelving and perform other similar minor decorating activities and
to perform non-structural alterations, which alterations do not require the acquisition of a building permit, provided that Tenant complies with all pertinent building code, fire, safety and other such governmental regulations. 

§6.04 Mechanics’ Liens. The Tenant shall (a) immediately bond or have released any mechanics’, materialman’s
or other lien filed or claimed against any or all of the Premises, the Building, or any other property owned or leased by the Landlord by reason of labor or materials provided for the Tenant or any of its contractors or subcontractors, or otherwise
arising out of the Tenant’s use or occupancy of the Premises, and (b) defend, indemnify and hold harmless the Landlord against and from any and all liability or expense (including but not limited to attorneys’ fees) incurred by the
Landlord on account of any such lien or claim. Failure by Tenant to discharge the lien or post bond (which under law would prevent foreclosure or execution under the lien) within ten (10) days after demand by Landlord, shall be a default by
Tenant under this Lease and, in addition to Landlord’s other rights and remedies, Landlord may take any action necessary to discharge the lien. 

§6.05 Fixtures. Any and all improvements, repairs, alterations or other property attached to, used in connection with or otherwise
installed within the Premises by the Landlord or the Tenant shall, immediately on the completion of their installation, become the Landlord’s property without payment therefor by the Landlord. However, upon the expiration of the Term, Tenant
shall have the right to remove any furniture, inventory and equipment which is not affixed to the Premises or paid for by Landlord through improvement allowances or otherwise. 

ARTICLE VII - UTILITIES & MAINTENANCE 

§7.01 Ordinary Services. During the Business Hours, Landlord shall provide heating and air-conditioning to the Premises, in the
appropriate seasons of the year, as necessary tin Landlord’s judgment) for the normal use and occupancy of the Premises. In addition, Landlord shall provide (a) electricity and water suitable for the use of the Premises in accordance with
the provisions of §4.01, (b) automatic elevator service within the Building and (c) janitorial service and trash removal service. All such services shall be an Operating Cost of the Building for which Tenant pays their Percentage
above the Base Year as defined in Article III above. “Business Hours” shall mean 7:00 a.m. to 6:00 p.m. Monday through Friday and closed on Saturday, Sunday and Building observed holidays, but Tenant shall have access at all times.
Building Hours shall be subject to change by Landlord with sufficient notice of the new Business Hours provided in writing to Tenant, however, in no event shall the Building Hours begin later then 9:00am or end earlier than 5:00pm Monday through
Friday and Building observed holidays. 
 §7.02 Extraordinary Services. The Landlord shall not be obligated to provide to or for
the benefit of the Premises any of the services referred to in the provisions of §7.01 above other than during the Business Hours referred to therein. lf the Tenant requests such services to be continued during extended hours, Tenant shall pay
to the Landlord as Additional Rent the amount from time to time charged by the Landlord for such extended service, such amount to be calculated as a function of the costs to provide such services during extended hours and the number of tenants
sharing same at the time requested. 

  
 11. 

 §7.03 Excessive Use. The Tenant shall not, without first obtaining the
Landlord’s written consent thereto, install within the Premises any machinery, appliances or equipment which uses electrical current in excess of that which is standard for the Building, and Tenant shall pay as Additional Rent the additional
expense incurred by the Landlord as a result of any of the foregoing, including that resulting from any installation of such equipment. The Landlord shall have the right from time to time, using sub-meters or other methods, to measure the
consumption of electricity or other utilities upon the Premises. In the event Landlord determines Tenant is consuming a disproportionate amount of electricity or other utilities at the Premises in relation to other tenants, and regardless of whether
such determination is reached by submetering or other methods, Tenant shall pay Landlord (a) within 30 days after billing, the out-of-pocket costs of installing submeters, and (b) on a monthly basis, as Additional Rent, the cost of all
such electricity or other utilities consumed at the Premises as indicated by the submeter(s) in excess of Base Year costs for electricity. 

§7.04 Maintenance by Tenant. The Tenant shall at all times maintain the Premises, and all elements thereof, in good, clean and
safe repair and condition. 
 §7.05 Maintenance by Landlord. The Landlord shall furnish, supply and maintain in good order and
repair (a) the roof and other structural portions of the exterior of the Building, (b) the common areas of the Building, and (c) the base building heating, ventilating and air-conditioning facilities. 

§7.06 Interruption. The Landlord shall have no liability to the Tenant on account of any failure, modification or interruption of
electricity, water or other utility or HVAC or other service or interruption in access to the Premises, but in any such event Landlord shall take reasonable steps to provide for the resumption of such service or access to the extent the same is
within Landlord’s control. In addition, Landlord shall not be liable to the Tenant for any disruption to Tenant’s business which occurs as a result of any repairs, replacements, improvements or alterations that take place within the
Premises. However, during any such repairs, replacements, improvements or alterations, Landlord shall take reasonable steps to minimize the disruption. If any failure to provide services or utilities continues for more than two consecutive business
days and materially interferes with Tenant’s conduct of business in or use and operation of the Premises, Tenant shall be entitled to an equitable abatement of rent for such period of time as the interruption is in effect. 

ARTICLE VIII - FINANCIAL INFORMATION 

§8.01 Financial Reporting. Tenant shall deliver to Landlord quarterly financial statements within 30 days of the close of each
calendar quarter or, if applicable, within 30 days after Tenant’s unrestricted cash position falls below $2,000,000.00, in each case, as prepared by Tenant in its customary financial reporting to Tenant’s lender. Such financial statements
shall include a calculation of Tenants unrestricted cash position. Unless otherwise agreed to in writing by Tenant, Landlord agrees: 

  
 12. 

 (A) except as required by law, to keep all Tenant financial statements confidential and not to
disclose or reveal such financial statements to any person other than those employed by Landlord or on its behalf who are actively and directly participating in the evaluation of Tenant’s unrestricted cash position and to cause those persons to
observe the terms of this Section; and 
 (B) not to use Tenant financial statements for any purpose, other than in connection with
evaluation of Tenant’s unrestricted cash position. 
 In the event that Landlord is requested pursuant to, or required by, applicable law or regulation
or by legal process to disclose any Tenant financial statements, Landlord agrees that it will provide Tenant with prompt notice of such request(s). Without prejudice to the rights and remedies otherwise available to Tenant, Tenant will be entitled
to equitable relief by way of injunction if Landlord or any of its employees, agents, consultants or representatives breach or threaten to breach any of the provisions of this Section. 

§8.02 Credit Event. If Tenant’s unrestricted cash position falls below $2,000,000.00 as indicated in any Tenant financial
statement (a “Credit Event”), Landlord may deliver notice of such Credit Event (the “Credit Notice”) to Tenant demanding that Tenant either provide evidence that Tenant’s unrestricted cash position is greater than or equal
to $2,000,000.00 or Tenant provide the Credit Enhancement (defined below). Such Credit Event shall be deemed an Event of Default if, within 90 days of delivery of the Credit Notice, (a) Tenant’s does not provide subsequent financial
statements indicating an unrestricted cash position greater than or equal to $2,000,000.00 or (b) Tenant does not provide the Credit Enhancement (defined below) to Landlord. 

§8.03 Credit Enhancement. The “Credit Enhancement” shall mean a Letter of Credit from an FDIC approved financial
institution in an amount equal to product of twelve multiplied by the monthly Base Rent amount as of delivery of the Credit Notice. Such Credit Enhancement shall be to the benefit of Landlord which Landlord may draw upon in the event an Event of
Default has occurred and is continuing beyond any applicable cure period under the Lease. The Credit Enhancement shall remain in effect until Tenant delivers two consecutive quarterly financial statements indicating that Tenant’s unrestricted
cash position is greater than or equal to $2,000,000.00. Following such delivery of consecutive financial statements, Landlord shall return the Credit Enhancement to Tenant. Such Credit Enhancement shall provide that Landlord may draw on the Credit
Enhancement by furnishing a sight draft in the amount demanded together with a statement certified by Landlord that (1) an Event of Default has occurred and is continuing under the Lease, or Landlord is barred by any applicable, bankruptcy or
creditors’ rights law from declaring an Event of Default has occurred, and (2) Landlord is entitled to the requested amount as either payment of any sum in default or as reimbursement for any sum which Landlord was required to spend by
reason of default by Tenant under this Lease. The Credit Enhancement shall be valid for at least one (1) year and Tenant shall cause the Credit Enhancement to be renewed no later than thirty (30) days prior to its expiration date and any
renewal shall be for at least one (1) year. If Tenant fails to renew an expiring Credit Enhancement (and furnish Landlord the renewal document) at least thirty (30) days prior to an expiration, Landlord, with not less than ten
(10) days prior written notice to Tenant, shall be entitled thereafter to draw upon the Credit Enhancement in the full amount of the Credit 

  
 13. 

 
Enhancement (unless a renewal or replacement Credit Enhancement is provided during said ten (10) day period) in which event Landlord shall retain said money as a cash security deposit
hereunder. Tenant acknowledges and agrees that Landlord may collaterally assign the Credit Enhancement to Landlord’s Mortgagee and such Mortgagee will have the same rights to draw on the Credit Enhancement as Landlord has pursuant to this
Lease. Any draw or other action in regard to the Credit Enhancement taken by Landlord’s Mortgagee shall be deemed, for purposes of this Lease, as a draw or other action taken by Landlord. Landlord shall assign the Credit Enhancement to any
successor in interest to Landlord’s interest in this Lease. 
 ARTICLE IX - CASUALTIES 

§9.01 General. If the Premises are damaged by fire or other casualty during the Term, then the following shall apply: 

(A) The Landlord shall restore the Premises with reasonable promptness, taking into account the time required by the Landlord to effect a
settlement with, and to procure any insurance proceeds from, any insurer against such casualty, to substantially the same condition as existed immediately before such casualty. Landlord may temporarily enter and possess any or all of the Premises
for such purpose. The Landlord shall not be obligated to repair, restore or replace any fixture, improvement, alteration, furniture or other property owned or installed by the Tenant. 

(B) The times for commencement and completion of any such restoration shall be extended for the period of any delay arising due to force
majeure causes beyond the Landlord’s control. If the Landlord undertakes to restore the Premises, but such restoration cannot be accomplished within 90 days after the date of casualty, as determined by estimate of Landlord upon such casualty,
then Tenant may terminate this lease by giving written notice thereof to the Landlord within 15 days after receipt of such estimate from Landlord. 

(C) From the time of such casualty to the completion of restoration as described above, Tenant’s rental obligations shall be abated
proportionately from that portion of the Premises which is rendered untenantable as a result of the casualty. 
 §9.02 Substantial
Destruction. Anything contained in the foregoing provisions of this section to the contrary notwithstanding: 
 (A) If during the Term
the Building is so damaged by fire or other casualty that (a) either the Premises or the Building are rendered substantially unfit for occupancy, as reasonably determined by the Landlord, or (b) the Building is damaged to the extent that
the Landlord elects to demolish the Building, or if any mortgagee or lender requires that any or all of the insurance proceeds issued on account thereof be used to retire any or all of the debt secured by its mortgage, then in any such case the
Landlord may elect to terminate this Lease as of the date of such casualty by giving written notice thereof to the Tenant within 60 days after such date; and 

(B) In such event, (1) the Tenant shall pay to the Landlord the Base Rent and any Additional Rent payable by the Tenant hereunder and
accrued through the date of such casualty, (2) the Landlord shall repay to the Tenant any and all prepaid Rent for periods beyond such casualty, and (3) the Landlord may enter upon and repossess the Premises without further notice provided
that Tenant is given a reasonable time to remove its property from the Premises. 

  
 14. 

 §9.03 Tenant’s Negligence. Anything contained in any provision of this Lease to
the contrary notwithstanding, if any such damage to the Premises, the Building or Project are caused by or result from the gross negligence or willful misconduct of the Tenant or any of its employees, contractors, agents or licensees, then
(a) the Rent shall not be abated or apportioned as aforesaid, and (b) the Tenant shall pay to the Landlord upon demand, as Additional Rent, the cost of any repairs and restoration made or to be made as a result of such damage, except if
and to the extent that such costs are covered under Landlord’s property insurance. 
 ARTICLE X - CONDEMNATION 

§10.01 Right to Award. If any or all of the Premises are taken by the exercise of any power of eminent domain or are conveyed to
or at the direction of any governmental entity under a threat of any such taking (each of which a “Condemnation”), the Landlord shall be entitled to collect from the condemning authority thereunder the entire amount of any award or
consideration for such conveyance, without deduction therefrom for any leasehold or other estate held by the Tenant under this Lease. The Landlord shall be entitled to conduct any condemnation proceeding and any settlement connected therewith free
of interference from the Tenant, and the Tenant hereby waives any right which it has to participate therein. However, the Tenant may seek, in a separate proceeding, a separate award on account of any damages or costs incurred by the Tenant as a
result of any such Condemnation, so long as such separate award in no way diminishes any award or payment which the Landlord would otherwise receive as a result of such Condemnation. 

§10.02 Effect of Condemnation. If (a) all of the Premises are covered by a Condemnation, or (b) any part of the Premises
is covered by a Condemnation and the remainder is insufficient for the reasonable operation of the Tenant’s business, or (c) any of the Buildings is covered by a Condemnation and, in the Landlord’s reasonable opinion, it would be
impractical to restore the remainder thereof, or (d) any of the rest of the Project is covered by a Condemnation and, in the Landlord’s reasonable opinion, it would be impractical to continue to operate the remainder of the Project
thereafter, then, in any such event, the Term shall terminate on the date on which possession of the property covered by such Condemnation is taken by the condemning authority thereunder, and all Rent (including any Additional Rent and other charges
payable hereunder) shall be apportioned and paid to such date. If there is a Condemnation and the Term does not terminate pursuant to the foregoing provisions of this subsection, the operation and effect of this Lease shall be unaffected by such
Condemnation, except that the Base Rent shall be reduced in proportion to the square footage of floor area, if any, o F the Premises covered by such Condemnation. 

§10.03 Interruption. If there is a Condemnation, the Landlord shall have no liability to the Tenant on account of any
(a) interruption of the Tenant’s business upon the Premises, (b) diminution in the Tenant’s ability to use the Premises, or (c) other injury or damage sustained by the Tenant as a result of such Condemnation. 

  
 15. 

 ARTICLE XI - ASSIGNMENT/SUBLETTING 

§11.01 Actions Covered. Any assignment by Tenant of this Lease or its rights hereunder, any subletting of the Premises and any
license, mortgage, pledge or other transfer of any part of the Premises or any of Tenant’s interests therein or under this Lease shall all be referred to hereinafter as a “Transfer.” Furthermore, the sale, assignment or other transfer
of any direct or indirect controlling interest in the Tenant (if a corporation), the sale, assignment or other transfer of any general partnership interest in Tenant (if a partnership), the sale, assignment or other transfer of any managing
membership interest in Tenant (if a limited liability company), the sale of substantially all of Tenant’s assets, and the merger or consolidation of Tenant into another organization or the reorganization or dissolution of Tenant, after which
Tenant shall not be the surviving corporation or partnership, shall each be considered a “Transfer” for the purposes of this Lease. 

§11.02 Restrictions. Tenant shall not Transfer this Lease or the Premises without first obtaining the Landlord’s prior
written consent thereto, which consent shall not be unreasonably withheld, conditioned or delayed. In the event that Tenant proposes any Transfer, Tenant shall notify Landlord in writing at least 30 days before the date on which the Transfer is to
be effective and, as included with such notice, furnish Landlord with (i) the name of the entity receiving such Transfer (the “Transferee”), (ii) a detailed description of the business of the Transferee, (iii) audited
financial statements of the Transferee, (iii) all written agreements governing the Transfer, (iv) any other information reasonably requested by the Landlord with respect to the Transfer or the Transferee, and (v) an amount, to be
established, for Landlord’s costs to be incurred in connection with the review and processing of such documentation. Landlord shall respond to Tenant’s request for approval or disapproval of the Transfer within 20 days after Landlord
receives the request and all documents and information required above. 
 §11.03 Liability to Landlord. Tenant hereby agrees
that notwithstanding anything in this Lease to the contrary, and regardless of whether or not Landlord’s consent is required hereunder, no Transfer shall be valid or effective unless and until the Transferee agrees in a written document, in
form and substance satisfactory to Landlord, that the Transferee shall (1) in the case of a subletting of any part of the Premises, observe and perform all duties, obligations and liabilities of the Tenant under the terms of this Lease as such
terms relate to the space subleased, or (2) in the case of all other Transfers, observe and perform all duties, obligations and liabilities of the Tenant under the terms of this Lease. In addition, no Transfer of any kind, regardless of whether
or not Landlord’s consent thereto is required hereunder, shall serve to relieve or release the Tenant in any way from full and direct liability for the timely performance of all of the Tenant’s duties and obligations under this Lease. 

§11.04 Excess Rents. In the event that Tenant effects any Transfer and at any time receives rent and/or other consideration on a
periodic basis which exceeds that which Tenant is obligated to pay to Landlord hereunder, Tenant shall pay to Landlord fifty percent (50%) of such excess rent or other consideration when and as received by Tenant, however, not later than 30
days after receipt of such excess consideration. 

  
 16. 

 §11.05 Permitted Transfers. Notwithstanding any provision in this Lease to the
contrary, Tenant shall have the right to assign this Lease or sublet all or a portion of the Premises without Landlord’s consent to any corporation or business entity which controls, is controlled by or is under common control with Tenant, or
to a corporation or other business entity resulting from a merger or consolidation with Tenant, or to any person or entity which acquires substantially all of the Tenant’s business assets in the State where the Premises are located as a going
concern. Tenant shall be required to notify Landlord in writing within 30 days of such assignment or sublet and the basic terms of such arrangement. 

§11.06 Landlord’s Transfers. Landlord shall have the unrestricted right to assign or transfer its interest in this Lease to
purchasers of the Building, to holders of mortgages or deeds of trust on the Building, or to any other party, in which event Landlord shall be released from all duties, obligations and liabilities arising hereunder after the assignment or transfer
becomes effective. 
 ARTICLE XII - RULES & REGULATIONS 

§12.01 Landlord’s Rules. The Landlord shall have the right to impose and subsequently modify, from time to time and at its
sole discretion, reasonable rules and regulations (hereinafter referred to as the “Rules and Regulations,” attached as “Exhibit C”) having uniform applicability to all tenants of the Building (subject to the provisions of their
respective leases) and governing their use and enjoyment of the Building and the remainder of the Project, including all parking areas. The Tenant and its agents, employees, invitees and licensees shall comply with such Rules and Regulations. Any
rules or regulations the application of which would conflict with any provisions of this Lease or with any rights granted to Tenant hereunder will be deemed waived as to Tenant to the extent necessary to protect Tenant’s interests hereunder.

 ARTICLE XIII - MORTGAGE LENDERS 

§13.01 Subordination. This Lease shall be subject and subordinate to the lien, operation and effect of each mortgage, deed of
trust, ground lease and/or other similar instrument covering any or all of the Premises or the Project, and each renewal, modification or extension thereof (each of which referred to as a “Mortgage”), all automatically and without the
necessity of any further action by either party hereto, provided, however, that in the event the beneficiary under any such Mortgage (referred to as a “Mortgagee”) succeeds to the interest of Landlord hereunder through foreclosure or
otherwise, such Mortgagee shall honor this Lease and not disturb Tenant in its possession of the Premises except upon an Event of Default (defined in § 14.01 below). In addition, Tenant shall attorn to any such Mortgagee and agrees that such
Mortgagee shall not be liable to Tenant for any defaults by Landlord under this Lease or for any other event occurring prior to such Mortgagee’s succeeding to the interest of Landlord hereunder; provided, that if such defaults continue
following Mortgagee succeeding to Landlord’s interest, Tenant may give notice of such defaults to Mortgagee as successor Landlord and if not rectified within 30 days, Mortgagee shall be responsible for the continuing defaults. 

§13.02 Written Agreement. The Tenant shall, within 15 days after request by the Landlord or any Mortgagee, execute, acknowledge
and deliver such further instrument as is reasonably acceptable to Tenant, Landlord and Mortgagee to acknowledge the rights of the parties described in §l 3.01 above and providing such other information and certifications as is reasonably
requested. Any Mortgagee may at any time subordinate the lien of its Mortgage to the 

  
 17. 

 
operation and effect of this Lease without obtaining the Tenant’s consent thereto, in which event this Lease shall be deemed to be senior to such Mortgage without regard to their respective
dates of execution, delivery and/or recordation among the land records of the jurisdiction in which the Project is located. 
 §13.03
Estoppel Certificate. The Tenant shall from time to time, within 15 calendar days after request by the Landlord or any Mortgagee, execute, acknowledge and deliver to the Landlord (or, at the Landlord’s request, to any existing or
prospective purchaser, assignee or Mortgagee) a written certification (a) that this Lease is unmodified and in full force and effect (or, if there has been any modification, stating the nature of such modification), (b) as to the dates to
which the Base Rent and any Additional Rent and other charges arising hereunder have been paid, (c) as to the amount of any prepaid Rent or any credit due to the Tenant hereunder, (d) that the Tenant has accepted possession of the Premises
and all improvements thereto are as required hereunder, and the date on which the Term commenced, (e) as to whether, to Tenant’s actual knowledge, the Landlord or the Tenant is then in default in performing any of its obligations hereunder
(and, if so, specifying the nature of each such default), and (f) as to any other fact or condition reasonably requested by the Landlord or such other party. Any such certificate may be relied upon by the Landlord and any such other party to
whom the certificate is directed. 
 §13.04 SNDA. Landlord represents that as of the execution of this Lease, the only holder of
a lien of any kind on the Project that is superior to this Lease (including, without limitation, any lessor under a ground lease) is Berkadia Commercial Mortgage LLC. Within 60 days following the Commencement Date, Landlord will deliver to Tenant a
commercially reasonable non-disturbance agreement executed by such superior lien holder agreeing in substance that, so long as Tenant is not in default under the terms of this Lease, its tenancy and all of its rights hereunder will not be disturbed
throughout the term of this Lease and any extensions thereof. Said non-disturbance agreement shall be of form and content used and accepted by Berkadia Commercial Mortgage LLC. 

ARTICLE XIV - DEFAULT AND REMEDIES 

§14.01 Defaults. As used in the provisions of this Lease, each of the following events shall constitute, and is hereinafter
referred to as, an “Event of Default” if such event continues following the grace periods described below: 
 (A) If the Tenant
fails to (1) pay any Rent or any other sum which it is obligated to pay by any provision of this Lease, when and as due and payable hereunder, or (2) perform any of its other obligations under the provisions of this Lease; or 

(B) If the Tenant or any guarantor of this Lease (1) applies for or consents to the appointment of a receiver, trustee or liquidator of
the Tenant or of all or a substantial part of its assets, (2) is subject to a petition in bankruptcy, (3) admits in writing its inability to pay its debts as they come due, (4) makes an assignment for the benefit of its creditors,
(5) files a petition or an answer seeking a reorganization or an arrangement with creditors, or seeks to take advantage of any insolvency law, (6) voluntarily performs any other act of bankruptcy, or (7) files an answer admitting the
material allegations of a petition filed against the Tenant in any bankruptcy, reorganization or insolvency proceeding; or 

  
 18. 

 (C) If the Tenant fails to assume possession and occupancy of the Premises within 15 days after
the Commencement Date, or if thereafter the Tenant vacates or abandons the Premises for more than 15 continuous days. 
 §14.02
Grace Period. Anything contained in the provisions of this article to the contrary notwithstanding, on the occurrence of an Event of Default, the Landlord shall not exercise any right or remedy which it holds under any provision of this Lease
or applicable law unless and until: 
 (A) The Landlord has given written notice thereof to the Tenant, and 

(B) The Tenant has failed, (1) if such Event of Default consists of a failure to pay money, to pay all of such money within 5 days after
such notice, or (2) if such Event of Default consists of something other than a failure to pay money, to fully cure such Event of Default within 30 days after such notice or, if such Event of Default cannot be cured within 30 days and Tenant
commences to cure same within 15 days, to fully cure such Event of Default within a commercially reasonable time period. 
 (C) No such
notice shall be required, and the Tenant shall be entitled to no such grace period, (1) in any emergency situation in which the Landlord acts to cure such Event of Default pursuant to the provisions of subsection (B) in §14.03 below,
or (2) if the Tenant has substantially terminated or is in the process of substantially terminating its continuous occupancy and use of the Premises, or (3) in the case of any Event of Default enumerated in the provisions of subsection
(B), items (1), (3), (4), (5), (6) or (7) in §14.01 above. 
 §14.03 Remedies. Upon the occurrence of any Event
of Default, the Landlord may (subject to § 14.02 above) take any or all of the following actions: 
 (A) Sell at public or private sale
all or any part of the fixtures, equipment, inventory and other property belonging to Tenant and in which the Landlord has a lien by grant from Tenant, statute or otherwise, at which sale Landlord shall have the right to become the purchaser upon
being the highest bidder, and apply the proceeds of such sale, first, to the payment of all costs and expenses of seizing and storing such property and conducting the sale (including all attorneys’ fees), second, toward the payment of any
indebtedness, including (without limitation) that for Rent, which may be or may become due from Tenant to Landlord, and, third, to pay Tenant any surplus remaining after all indebtedness of Tenant to Landlord including expenses has been fully paid;

 (B) Perform on behalf of and at the expense of Tenant any obligation of Tenant under this Lease which Tenant has failed to perform,
without prior notice to Tenant, the total cost of which by Landlord shall be deemed Additional Rent and shall be payable by Tenant to Landlord upon demand.; 

  
 19. 

 (C) With or without terminating this Lease and the tenancy created hereby, re-enter the Premises
with or without court action or summary proceedings, remove Tenant and all other persons and property from the Premises, and store any such property in a public warehouse or elsewhere at the costs of and for the account of Tenant, all without resort
to legal process and without Landlord being deemed guilty of trespass or becoming liable for any loss or damage occasioned thereby; 
 (D)
With or without terminating this Lease, and from time to time, make such improvements, alterations and repairs as may be necessary in order to relet the Premises, and relet he Premises or any part thereof upon such term or terms (which may be for a
term extending beyond the term of this Lease) at such rental or rentals and upon such other terms and conditions (which may include concessions, free rent and/or improvements) as Landlord in its sole discretion may deem advisable; and, upon each
such reletting, all rentals received by Landlord shall be applied, first, to the payment of any indebtedness other than Rent due hereunder from Tenant to Landlord, second, to the payment of all costs and expenses of such reletting (including but not
limited to brokerage fees, attorneys’ fees and costs of improvements, alterations and repairs), third, to the payment of all Rent due and unpaid hereunder, and the balance, if any, shall be held by Landlord and applied in payment of future rent
as the same may become due and payable hereunder; 
 (E) Enforce any provision of the Lease or any other agreement between the parties by
injunction, temporary restraining order or other similar equitable remedy, to which the Tenant hereby expressly consents and agrees; and/or 

(F) Exercise any other legal or equitable right or remedy which it may have by law or otherwise. 

No reentry or taking possession of the Premises by Landlord shall be construed as an election on its part to terminate this Lease unless a
written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding that Landlord may have re-leased the Premises without termination, Landlord may at anytime
thereafter elect to terminate this Lease for any previous default. If the Premises or any part thereof is re-leased, Landlord shall not be liable for, nor shall Tenant’s obligations hereunder be diminished by reason of, any failure by Landlord
to relet the Premises or any failure by Landlord to collect any rent due upon such reletting. No action taken by the Landlord under the provisions of this section shall operate as a waiver of any right which the Landlord would otherwise have against
the Tenant for the Rent hereby reserved or otherwise, and the Tenant shall at all times remain responsible to the Landlord for any loss and/or damage suffered by the Landlord by reason of any Event of Default. 

§14.04 Damages. Upon any Event of Default, Tenant shall remain liable to the Landlord for the following amounts: (a) any Rent
of any kind whatsoever which may have become due with respect to the period in the Term which has already expired, (b) all Rent which becomes due during the remainder of the Term less the actual net rent collected by Landlord from successor
Tenant(s) for the Premises of which such collections will be reimbursed to Tenant upon receipt, (c) all unamortized costs, fees and expenses incurred by Landlord for leasing commissions, construction and other build-out, design and permitting
costs for any replacement tenant incurred during the term of this Lease in the event Tenant does not complete the full term of the Lease and (d) all costs, fees and expenses incurred by Landlord in pursuit of its remedies hereunder,

  
 20. 

 
including but not limited to attorneys’ fees and court costs. All such amounts shall be due and payable immediately upon demand by Landlord and shall bear interest at 15% per annum
until paid. Furthermore, at Landlord’s option, Tenant shall be obligated to pay, in lieu of item (b) above in this § 14.04, an amount (the “Substitute Amount”) which is equal to (i) the present value (calculated using a
rate equal to the yield on the 10-year United States Treasury as most recently published in the Wall Street Journal at the time of such calculation) of all Rent which would become due during the remainder of the Term, including all Additional Rent
which shall be deemed to continue and increase over such remainder of the Term at the average rate of increase occurring over the then-expired portion of the Term, with such present value to be determined by discounting at an annual rate of interest
which is equal to the bond-equivalent yield for the most recent auction of U.S. Treasury Bills with a 1-year maturity less (ii) the actual net rent collected by Landlord from successor Tenant for the Premises for the remainder of the Term. Any
suit or action brought by Landlord to collect any such liquidated damages shall not in any manner prejudice any other rights or remedies of Landlord hereunder. 

§14.05 Landlord’s Lien. Tenant hereby acknowledges Landlord’s statutory lien in Arizona Revised Statutes §33-362.

 §14.05 Landlord Default. Landlord shall be in default under this Lease if Landlord fails to perform any of its obligations or
breaches any of its covenants contained in this Lease and (unless another time limit is elsewhere in this Lease specifically provided) the default continues for a period of 30 days after written demand for performance is given by Tenant, or if the
default is of such a character as to require more than 30 days to cure and Landlord shall fail to commence said cure promptly and use reasonable diligence in working to complete such cure. 

§14.06 Waiver of Jury Trial. All parties hereto, ,both the Landlord and Tenant as principals and any guarantors, hereby release
and waive any and all rights provided by law to a trial by jury in any court or other legal proceeding initiated to enforce the terms of this Lease, involving any such parties, or connected in any other manner with this Lease. 

§14.07 Tenant Intellectual Property. All intellectual property of Tenant (collectively, “Tenant’s Property”) shall
be and shall remain the property of Tenant. Landlord hereby releases and waives any lien, statutory or otherwise, that Landlord may have with respect to such Tenant’s Property. 

ARTICLE XV - QUIET ENJOYMENT 

§15.01 Covenant. Landlord hereby covenants that the Tenant, on paying the Rent and performing the covenants set forth herein,
shall peaceably and quietly hold and enjoy throughout the Term the Premises and such rights as the Tenant may hold hereunder with respect to the remainder of the Project. 

ARTICLE XVI - NOTICES 

§16.01 Notices. Any notice, demand or other communication to be provided hereunder to a party hereto shall be (a) in writing,
(b) deemed to have been given (i) 3 days after being sent in the United States registered or certified mails, postage prepaid, return receipt requested (ii) one day after being sent by overnight courier, or (iii) immediately upon
its actual delivery, and (c) addressed to each respective party at the Notice Address for such party set forth in the Fundamental Lease Provisions. 

  
 21. 

 ARTICLE XVII - GENERAL 

§17.01 Entire Agreement. This Lease represents the entire agreement between the parties hereto as to the subject matter hereof and
supersedes all prior written or oral negotiations, representations, warranties, statements or agreements between the parties hereto as to the same. 

§17.02 Amendment. This Lease may be amended by and only by a written instrument executed and delivered by each party hereto. 

§17.03 Applicable Law. This Lease shall be given effect and construed by application of the law of the state in which the Project
is located. 
 §17.04 Waiver. The Landlord shall not be deemed to have waived the exercise of any right which it holds hereunder
unless such waiver is made expressly and in writing, and no delay or omission by the Landlord in exercising any such right shall be deemed to be a waiver of its future exercise. No such waiver as to any instance involving the exercise of any such
right shall be deemed a waiver as to any other such instance or any other such right. 
 §17.05 Time of Essence. Time shall be
of the essence of this Lease. 
 §17.06 Headings. The headings of the articles, subsections, paragraphs and subparagraphs hereof
are provided herein only for convenience of reference and shall not be considered in construing their contents. 
 §17.07
Severability. No determination by any court, governmental body or otherwise that any provision of this lease or any amendment hereof is invalid or unenforceable in any instance shall affect the validity or enforceability of any other such
provision or such provision in any circumstance not controlled by such determination. Each such provision shall be valid and enforceable to the fullest extent allowed by, and shall be construed wherever possible as being consistent with, applicable
law. 
 §17.08 Successors and Assigns. This Lease shall be fully binding upon the parties hereto and each of their respective
successors and assigns. Whenever two or more parties constitute the Tenant, all such parties shall be jointly and severally liable for performing the Tenant’s obligations hereunder. 

§17.09 Commissions. Each party hereto hereby represents and warrants to the other that in connection with the leasing of the
Premises hereunder, the party so representing and warranting has not dealt with any real estate broker, agent or finder, except for the Broker of Record. Each party hereto shall indemnify the other against any inaccuracy in such party’s
representation. 
 §17.10 Recordation. This Lease may not be recorded among the land records or among any other public records,
without the Landlord’s prior written consent. 

  
 22. 

 §17.11 Liability Limitation. Neither Landlord nor any trustee, director, officer,
employee, representative, asset manager, investment advisor or agent of Landlord, nor any of their respective successors and assigns, shall be personally liable in any connection with this Lease, and Tenant shall resort solely to the Building for
the payment to Tenant of any claim or for any performance by Landlord hereunder. 
 §17.12 Authority. Tenant, as well as any
entities and/or individuals executing this Lease on behalf of Tenant, represent and warrant to Landlord that the execution, delivery and performance of this Lease have been duly authorized by all required corporate, partnership or other action on
the part of Tenant, and this Lease constitutes the valid and binding obligation of Tenant enforceable against Tenant in accordance with its terms. 

§17.13 Exhibits. Each exhibit, addendum or other attachment hereto is hereby made a part of this Lease having the full force of
all other provisions herein. 
 §17.14 Tenant Improvements. Per Exhibit B “Space Improvements”. 

§17.15 Parking. The parking ratio of the building is approximately 4.1:1000. Landlord shall provide the Tenant with ten
(10) covered reserved parking space at no additional charge for the term of the lease. All uncovered unreserved spaces shall be available on a first come, first serve basis. Additional surface covered parking stalls may be available to Tenant
at a charge of $35.00 per stall per month on a first come first serve basis. 
 §17.16 Signage. Landlord at Landlord’s sole
cost shall provide Tenant the following building signage: 
  

	 	a.)	Tenant’s name and suite number on suite entrance 

  

	 	b.)	Building Directory signage 

  

	 	c.)	(1) plaque on one newly constructed monument sign, subject to city and HOA approval and pursuant to provisions stated in §6.01 under Article VI. “Improvements to Premises” 

[Remainder of Page Intentionally Left Blank.] 

  
 23. 

 IN WITNESS WHEREOF, each party hereto has executed this Lease under seal on the day and year written first above.

  

									
		 	LANDLORD:	 		 	JUTLAND 4141 INVESTMENTS, LTD.
					
		 		 		 	By:	 	Authorized Agent
					
		 	  
	 		 	By:	 	 /s/ Graeme Gabriel

		 	Witness	 		 	Name:	 	 Graeme Gabriel

		 		 		 	Title:	 	 Authorized Representative

		 		 		 	Date:	 	 1/18/11

		 		 		 		 	

  

							
	STATE OF 	 	  
	 	)	 	
	COUNTY OF	 	  
	 	)	 	

 The foregoing instrument was acknowledged before me, a notary public, this
         day of                 , 2010, by
                                         
                   , as
                                         
       , of
                                         
                   , Authorized Agent of Jutland 4141 Investments, Ltd., a California limited partnership, on behalf of the partnership 

 

	
	  

	Notary Public

  

	
	My Commission Expires:
	  

  

  
 24. 

 EXHIBIT A 

FLOOR PLAN OF PREMISES 

  
 25. 

 

 

  
 26. 

 EXHIBIT B 

SPACE IMPROVEMENTS 

  
 27. 

 EVERSPIN 

EXHIBIT “B” 
 Cubicles (31
purchased by the landlord) 
 Flooring (VCT tile, Antistatic Floor and Carpet) Demo of existing walls, ceiling tiles and flooring Millwork 

Plumbing 
 HVAC adjustments 

Painting 
 Sprinkler head adjustments 

Electrical demo and new installation 
 New interior walls, doors
and side lights 
 Window blinds as needed 
 New ceiling tiles
and grid as needed 
 Subject to change: Items listed could vary per City of Chandler codes and agreed to tenant suite plan from the architect, James Doerr.

  

	
	AGREED AND ACCEPTED:
	
	  

	By
	
	  

	Its
	
	  

	Date

  
 28. 

 

 

  
 29. 

 

 

  
 30. 

 EXHIBIT C 

RULES AND REGULATIONS 
 1.
Neither the whole nor any part of the sidewalks, plaza areas, entrances, passages, courts, elevators, vestibules, stairways, corridors or halls of the Building shall be obstructed or encumbered by any tenant or used for any purpose other than
ingress and egress to and from the premises of such tenant. 
 2. Building standard suite entrance signs to Premises shall be placed thereon
by a contractor designated by Landlord at Landlord’s expense. Names to be replaced on or removed from directories should be furnished to the manager in writing on Tenant’s letterhead. All replacement directory strips will be at the expense
of the Tenant. Landlord will determine size and uniformity of strips. 
 3. No awning, canopy, sign or other projection shall be attached to
the outside walls or windows of the Building without Landlord’s prior written consent. No curtain, blind, shade, or screen (other than those furnished by Landlord as building standard) shall be attached to, hung in or used in connection with
any window or door of the premises of any tenant. 
 4. No tenant shall mark, paint, drill into, or in any way deface any part of the
Building or its premises. No boring, cutting, or stringing of wires shall be permitted. No nails, hooks or screws shall be driven or inserted in any part of the Building, except by the Building maintenance personnel, nor shall any part be defaced by
Tenant. All nail holes are to be patched and repaired in Tenant’s suite by Tenant upon vacating the Premises. Landlord will allow tenant to hang pictures with screws or wall anchors. 

5. No tenant shall make, or permit to be made, any unseemly or disturbing noises (whether by the use of any musical instrument, radio,
television or other audio device) or allow any unreasonable odors to emanate from its space, nor shall any tenant unreasonably annoy, disturb or interfere with other tenants or occupants of the Building or neighboring buildings. 

6. No change shall be made in door locks, including the addition of locks, without Landlord’s prior written consent. Landlord will allow
tenant to have the locks changed when tenant moves in. Upon lock change, Tenant shall supply Landlord with a duplicate key for Landlord emergency access. Each tenant must upon the termination of its tenancy restore to Landlord all keys to offices
and toilet rooms either furnished to, or otherwise procured by, such tenant. In the event of the loss of any keys during the Term, Tenant shall pay Landlord the reasonable cost of replacement keys. 

7. Landlord reserves the right to control and operate the public portions of the Building and the public facilities, as well as facilities
furnished for the common use of the tenants, in such manner as it deems best for the benefit of the tenants generally, including, without limitation, the right to exclude from the Building, except during the hours the Building is open to the public,
all persons who do not present suitable identification satisfactory to Landlord. 

  
 31. 

 8. Each tenant, before closing and leaving its premises at any time, shall see that all entrance
doors are locked and that all electrical appliances are turned off. Suite and entrance doors shall remain closed at all times. Tenant shall exercise extraordinary care and caution that all water faucets or water apparatus are entirely shut off
before the Tenant or the Tenant’s employees leave the Building, and that all electricity, gas and air conditioning shall likewise be carefully shut off, so as to prevent waste or damage, where controlled by Tenant. 

9. No premises shall be used, or permitted to be used, for lodging or sleeping or for any illegal purpose. 

10. Canvassing, soliciting and peddling in the Building are prohibited. 

11. Movement in or out of the Building of furniture or office equipment, or dispatch or receipt by Tenant of any merchandise or materials
which require use of stairways, elevators or movement through Building entrance or lobby shall be restricted to hours designated by Landlord. All such movement shall be under supervision of Landlord and in the manner agreed between Tenant and
Landlord by pre-arrangement before performance. Such pre-arrangement initiated by Tenant will include determination by Landlord and subject to its decision and control, as to the concerns which may prohibit any article, equipment or any other item
from being brought into the Building. There shall not be used in the Building by any tenant or their agents or contractors, in the delivery or receipt of merchandise, freight or other matter, any hand trucks or other means of conveyance, except
those equipped with rubber tires, rubber side guards, and such other safeguards as Landlord may require. 
 12. No animals of any kind shall
be brought into or kept about the Building by any tenant except assistance animals. 
 13. No tenant shall place, or permit to be placed, on
any part of the floor or floors of its premises a load exceeding the floor load per square foot which such floor was designed to carry and which is allowed by law. The Landlord shall have the power to prescribe the weight and position of such safes
or other objects which shall, if considered necessary by the Landlord, be required to be supported by such additional materials placed on the floor as the Landlord may direct, and at the expense of the Tenant. 

14. No vending machines shall be permitted to be placed or installed in any part of the Building or premises by any tenant without the prior
written consent of Landlord. Landlord reserves the right to place or install vending machines in any of the common areas of the Building. 

15. No plumbing or electrical fixtures shall be installed by any tenant without the prior written consent of Landlord. 

16. All Tenants shall adhere to and obey all such parking control measures as may be placed into effect by the Landlord through the use of
signs, identifying decals or other instructions. Bicycles, motorcycles or any other type of vehicle shall not be brought into the lobby or elevators of the Building or into the premises of any tenant. 

17. Tenant will refer all contractors, contractor’s representatives and installation technicians, rendering any services on or to the
premises for tenant, to Landlord for Landlord’s approval and supervision before performance of any service. This provision shall apply to all 

  
 32. 

 
work performed in the Building, including installation of telephones, telegraph equipment, electrical devices and attachments and any installation of any nature affecting floors, walls, woodwork,
trim, windows, ceilings, equipment or any other physical portion of the Building. Such approval, if given, shall in no way make Landlord a party to any contract between tenant and any such contractor, and Landlord shall have no liability therefor.

 18. No trash or other objects shall be placed in the public corridors or sidewalks of the Building. Plumbing fixtures and appliances
shall be used only for purposes for which constructed, and no sweepings, rubbish, rags or other unsuitable material shall be thrown or placed therein. Damage resulting to any such fixtures or appliances from misuse by Tenant, its employees, agents,
visitors or licensees shall be paid by Tenant, and Landlord shall not in any case be responsible therefor. 
 19. Landlord does not clean or
maintain suite finishes which are non-standard, such as kitchens, bathrooms, wallpaper, special lights, etc. Landlord shall have no obligation to repair, re-stretch, or replace carpeting, but will spot-clean and sweep carpeting as part of any
janitorial services required to be furnished by Landlord under the Lease. Tenants shall not cause unnecessary labor by reason of carelessness or indifference in the preservation of good order and cleanliness. The work of the janitor or cleaning
personnel shall not be hindered by Tenant after 5:30 p.m., and such work may be done at any time when the offices are vacant. The windows, doors and fixtures may be cleaned at any time without interruption of purpose for which the Premises are let.
Tenant shall provide adequate waste and rubbish receptacles, cabinets, bookcases, map cases, etc. necessary to prevent unreasonable hardship to Landlord in discharging its obligation regarding cleaning service. Boxes should be broken down to fit
into containers. 
 20. All holiday decorations and other temporary or special decorations must be flame-retardant. No live Christmas trees
or candles are to be used throughout the Building. No decorations should be hung on the exterior windows or on exterior suite doors. 
 21.
There shall be no smoking permitted in the Building. 
 22. Tenants and Tenant’s visitors and invitees are permitted to park in
designated spaces only. Parking hours are the same as Business hours. Landlord reserves the right to change reserved and leased parking spaces at its sole discretion. Violations of the following rules may result in towing from the Project at the
owner’s expense: 
 a. Vehicles are not to exceed 2 miles per hour speed limit in the garage. 

b. Mechanical repairs to vehicles are not permitted on the Project. 

c. Oversized vehicles are not permitted at the Project. 

d. No parking in fire lands, loading zones or any other areas not designated as a parking space. 

e. Vehicles that leak excessive fluids will be required to protect the parking surface. 

  
 33. 

 23. Landlord reserves the right, at any time and from time to time, to rescind, alter, or waive,
in whole or in part, or to add to any of these Rules and Regulations when it is deemed necessary, desirable or proper, in Landlord’s judgment, for its best interest or for the best interests of all tenants. 

24. Violations of these Rules and Regulations, or any amendments thereof or additions thereto, constitute a default of this Lease if Tenant
fails to cure such violation within 48 hours of issuance of Landlord’s written notice of such violation. 

  
 34.EX-10.17

 Exhibit 10.17 
  

 
 COMMERCIAL INDUSTRIAL LEASE AGREEMENT 

PRINCIPAL LIFE INSURANCE COMPANY, AN IOWA CORPORATION, LANDLORD 

AND 
 EVERSPIN
TECHNOLOGIES, INC. TENANT 
 FOR THE PREMISES LOCATED AT: 

STONELAKE 1 
 4030 WEST
BRAKER LANE, SUITE 100 
 AUSTIN, TEXAS 78759 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page No.	 
		 	BASIC LEASE TERMS	  	 	1	  
			
	 1.
	 	PREMISES, TERM, INITIAL IMPROVEMENTS, ACCEPTANCE OR PREMISES	  	 	3	  
			
	 2.
	 	RENT AND SECURITY DEPOSIT	  	 	3	  
			
	 3.
	 	TAXES	  	 	6	  
			
	 4.
	 	LANDLORD’S MAINTENANCE AND REPAIR OBLIGATIONS	  	 	7	  
			
	 5.
	 	TENANT’S MAINTENANCE AND REPAIR OBLIGATIONS	  	 	.7	  
			
	 6.
	 	ALTERATIONS BY TENANT	  	 	.8	  
			
	 7.
	 	SIGNS	  	 	9	  
			
	 8.
	 	UTILITIES	  	 	10	  
			
	 9.
	 	INSURANCE BY TENANT	  	 	10	  
			
	 10.
	 	SUBROGATION OF RIGHTS OF RECOVERY	  	 	12	  
			
	 11.
	 	CASUALTY DAMAGE	  	 	12	  
			
	 12.
	 	LIABILITY, INDEMNIFICATION, AND NEGLIGENCE	  	 	13	  
			
	 13.
	 	USE; COMPLIANCE WITH LAWS; PARKING	  	 	13	  
			
	 14.
	 	INSPECTION; ACCESS AND RIGHT OF ENTRY; NEW CONSTRUCTION	  	 	15	  
			
	 15.
	 	ASSIGNMENT AND SUBLETTING	  	 	15	  
			
	 16.
	 	CONDEMNATION	  	 	17	  
			
	 17.
	 	SURRENDER AND REDELIVERY OF PREMISES; HOLDING OVER	  	 	17	  
			
	 18.
	 	QUIET ENJOYMENT	  	 	18	  
			
	 19.
	 	EVENTS OF DEFAULT	  	 	18	  
			
	 20.
	 	REMEDIES	  	 	19	  
			
	 21.
	 	LANDLORD’S DEFAULT AND LIMITATIONS OF LIABILITY	  	 	20	  
			
	 22.
	 	MORTGAGES	  	 	21	  
			
	 23.
	 	ENCUMBRANCES	  	 	22	  
			
	 24.
	 	MISCELLANEOUS	  	 	22	  
			
	 25.
	 	NOTICES	  	 	25	  
			
	 26.
	 	HAZARDOUS WASTE	  	 	26	  

							
	 27.
	 	INTENTIONALLY OMITTED	  	 	27	  
			
	 28.
	 	TENANT’S ACKNOWLEDGEMENTS	  	 	27	  
			
	 29.
	 	WAIVER	  	 	27	  
		
	 RIDER TO LEASE
	  	 	29	  
		
	 EXHIBIT A
	  	 	31	  
		
	 EXHIBIT A-1
	  	 	32	  
		
	 EXHIBIT B
	  	 	34	  
		
	 EXHIBIT B-1
	  	 	38	  
		
	 EXHIBIT C
	  	 	40	  
		
	 EXHIBIT D
	  	 	41	  
		
	 EXHIBIT E
	  	 	43	  
		
	 EXHIBIT F
	  	 	44	  

					
		 	 Square Feet    

Address:
	  	 5,002
 Stonelake 1

4030 W. Braker Lane
 Suite 100

Austin, TX 78759

 LEASE AGREEMENT 

This Lease Agreement (this “Lease”) is entered into by PRINCIPAL LIFE INSURANCE COMPANY, an Iowa corporation (“Landlord”),
and EVERSPIN TECHNOLOGIES, INC., a Delaware corporation (“Tenant”). The terms referenced in the Basic Lease Information above are hereby incorporated herein by this reference. 

BASIC LEASE INFORMATION 
  

			
	Effective Date:	  	May 18, 2012.
		
	Tenant:	  	Everspin Technologies, Inc.
		
	Tenant’s Address:	  	 Everspin, Technologies, Inc.
 4030 West Braker
Lane, Suite 100
 Austin, TX 78759

		
	Tenant’s Contact:	  	Bob Schuch, Director of Finance
		
	Landlord:	  	Principal Life Insurance Company, an Iowa corporation
		
	Landlord’s Address:    	  	 PRINCIPAL LIFE INSURANCE COMPANY
 801 Grand
Ave.
 Des Moines, Iowa 50392-1370
 Attn: Commercial Real Estate
Equities, Central States Region

		
	With a copy to:	  	 Stream Realty Partners, L.P.
 400 W. 15th
Street, Suite 1250
 Austin, TX 78701
 Attn: Property Manager of
Stonelake

		
	Payments:	  	 All Rent payments shall be sent to:
 Principal
Life Insurance Co.
 P. O. Box 310300
 Property: 010110

Des Moines, Iowa 50331-0300

		
	Building:	  	The “Building” shall mean the building and improvements located at 4030 West Braker Lane, Building 1, in Austin, Travis County, Texas.
		
	Premises:	  	Approximately 5,002 rentable square feet as outlined on the plan attached to this Lease as Exhibit “A” and whose street address is 4030 West Braker Lane, Building 1, Suite 100, Austin, TX 78759.
		
	Original Term:	  	Fifty-one (51) full calendar months (and any partial month, if applicable), beginning on the Commencement Date and ending on the Expiration Date.

  
 1 

			
	Commencement Date:	  	The later of (i) June 1, 2012, or (ii) Substantial Completion of Landlord’s Work (as those terms are defined in Exhibit B attached hereto).
		
	Expiration Date:	  	The last day of the fifty-first (51st) full calendar month following the Commencement Date.
		
	Security Deposit:	  	Five Thousand Two and No/100ths Dollars ($5,002.00).
		
	Rent:	  	

  

									
			
	 Months
	  	Base Rent
PSF/Mo.	 	  	Monthly Rent	 
	 Months 1-3
	  	$	0.85	  	  	$	0.00	* 
	 Months 4-12
	  	$	0.85	  	  	$	4,251.70	  
	 Months 13-24
	  	$	0.90	  	  	$	4,501.80	  
	 Months 25-36
	  	$	0.95	  	  	$	4,751.90	  
	 Months 37- 51
	  	$	1.00	  	  	$	5,002.00	  

  

			
		  	 *       If the Commencement Date is other than the first day of
a calendar month, then the first and last months of the abatement period shall be prorated so that Tenant receives three (3) months of abatement. Such abatement shall apply solely to payment of the monthly installments of Base Rent and Operating
Expenses (including, without limitation, Taxes), but shall not be applicable to any other charges, expenses or costs payable by Tenant under this Lease. Landlord and Tenant agree that the abatement of rental and other payments contained in this
Section is conditional and is made by Landlord in reliance upon Tenant’s faithful and continued performance of the terms, conditions and covenants of this Lease and the payment of all monies due Landlord hereunder. In the event that Tenant
defaults under the terms and conditions of the Lease beyond any applicable notice and cure period, the unamortized portion of all conditionally abated rental shall become fully liquidated and immediately due and payable (without limitation and in
addition to any and all other rights and remedies available to Landlord provided herein or at law and in equity).

		
	Electricity:	  	Tenant shall pay for all electrical charges used in the Premises, which charges are not subject to any base year or abatement.

  

							
	Amount Due on Lease	  	Initial Monthly Base Rent	  	$	 4,251.70	  
	Execution	  	Initial Monthly Escrows (subject to adjustment)	  	$	 1,900.76	  
		  	Security Deposit	  	$	 5,002.00	  
		  		  	  
	  
	 
		  	Total Initial Payment	  	$	 11,154.46	  
		  		  	  
	  
	 

  

			
	Permitted Use:	  	Only for general office uses in keeping with the first-class nature of the Building and for no other purpose without Landlord’s prior written consent, which consent shall not be unreasonably withheld or delayed. The Premises
shall not be used for any use, which is disreputable. No retail sales may be made from the Premises.
		
	Tenant’s Proportionate Share:	  	23.31%, which is the percentage obtained by dividing the rentable square feet in the applicable Premises by the rentable square feet in the applicable Building (which contains approximately 21,460 rentable square feet of
space).
		
	Guarantor:	  	None
		
	Brokers:	  	 Landlord’s Broker: Stream Realty Partners, L.P.

Tenant’s Broker: Aquila Commercial, LLC

  
 2 

 1. PREMISES, TERM, INITIAL IMPROVEMENTS, ACCEPTANCE OF PREMISES. 

1.1 Premises. Landlord leases to Tenant, and Tenant leases from Landlord, the Premises as more fully depicted on the floor plan
attached as Exhibit A-1, subject to the terms and conditions in this Lease. The Premises are part of the Building located on the real property described on Exhibit A (the “Land”). All references to “Building”
shall individually and collectively refer to all buildings and Parking Areas (herein defined) on the Land, now and during the lease Term (defined below), unless the context otherwise requires. “Common Areas” will mean all
areas, space, facilities, and equipment (whether or not located within the Building) made available by Landlord for the common and joint use of Landlord, Tenant, and others designated by Landlord using or occupying space in the Building or on the
Land to the extent that the Common Areas are not expressly made a part of the Premises, and are made available for the use of all tenants in the Building. Landlord hereby grants Tenant a non-exclusive right to use the Common Areas during the lease
Term in common with others designated by Landlord, subject to the terms and conditions of this Lease, including, without limitation, the restrictions on intended use and the Rules and Regulations (defined below). 

1.2 Term. The lease Term shall begin on the Commencement Date, and end on the Expiration Date (“Original
Term”). The Original Term, together with any renewals and extensions, shall be referred to collectively as the “Term.” Following Substantial Completion (defined in Exhibit B), Landlord and Tenant shall execute an instrument
specifying the Commencement Date and the Expiration Date of the Original Term. If Tenant occupies the Premises without executing an instrument specifying the Commencement Date and Expiration Date, Tenant shall be deemed to have accepted the Premises
for all purposes and the Commencement Date shall be deemed to have occurred on the earlier to occur of: (i) actual occupancy; (ii) the Commencement Date set forth in Section 1.2, or (iii) the date Tenant commences doing business
at the Premises if Landlord consents to an early occupancy as set forth in this Lease. Notwithstanding the foregoing, Tenant shall have the right to enter the Premises a minimum of two (2) weeks prior to the Commencement Date to install
furniture and fixtures, as further described in Exhibit B, Item 5, contained herein, so long as Tenant does not interfere with any work to be performed by Landlord. 

1.3 Initial Improvements. If an Exhibit B is attached to this Lease, Landlord shall construct in the Premises the
improvements (the “Initial Improvements” as defined in Exhibit B) described on the plans and specifications referenced on Exhibit B. 

1.4 Tenant’s Acceptance of Premises. By occupying the Premises, Tenant accepts the Premises in its “AS-IS, WHERE
IS”, subject to any latent defects of which Tenant notifies Landlord within one year after the Commencement Date with all faults condition as of the date of Tenant’s occupancy, subject to completion of punch-lists, if any, relating to
the Initial Improvements, if an Exhibit B is attached. If an Exhibit B is not attached, then Tenant accepts the Premises in its “AS-IS, WHERE IS”, subject to any latent defects of which Tenant notifies
Landlord within one year after the Commencement Date with all faults condition as of the date of Tenant’s occupancy, and Landlord shall have no obligation to perform or pay for any repair or other work, other than as set forth in this Lease.

 2. RENT AND SECURITY DEPOSIT. 

2.1 Rent; No Right of Offset. The Base Rent, the Additional Rent and all other payments and reimbursements required to be made by
Tenant under this Lease, including any sums due under the attached Exhibit B shall constitute “Rent.” Tenant shall make each payment of the following items of Rent when due, without prior notice, demand,
deduction or offset. 
 2.2 Base Rent. The first monthly installment of Base Rent, plus the other monthly charges set forth in
Section 2.3, shall be due on the date Tenant signs the Lease. Monthly installments of Base Rent shall then be due on the first day of each calendar month following the Commencement Date. If the Term begins on a day other than the first day of a
month or ends on a day other than the last day of a month, the Base Rent and Additional Rent for each partial month shall be prorated. 

2.3 Additional Rent. On the same day that Base Rent is due, Tenant shall pay as “Additional Rent”
Tenant’s Proportionate Share of all costs incurred in operating and maintaining the Land, Building and Common Areas (collectively “Operating Expenses”). Tenant also shall pay as “Additional Rent”
Tenant’s Proportionate Share of Taxes (defined in Section 3) and all late fees incurred by Tenant. 

  
 3 

 2.3.1 Operating Expenses. 

2.3.1.1 Operating Expenses Inclusions. Operating Expenses shall include all expenses and disbursements of every kind which
Landlord incurs, pays or becomes obligated to pay in connection with the ownership, management, operation and maintenance of the Building (including the associated Parking Areas as herein defined) and Land including, but not limited to, the
following: (1) Taxes (defined below) and the reasonable cost of any tax consultant employed to assist Landlord In determining the fair tax valuation of the Building and Land; (2) the cost of all utilities which are not billed separately to
a tenant of the Building for above-building standard utility consumption; (3) the cost of insurance; (4) the cost of repairs, replacement, property management fees (provided that management fees shall not exceed 4% of gross revenues from
the Building) and expenses, landscape maintenance and replacement, security service (if provided), sewer service (if provided), trash service (if provided); (5) the cost of dues, assessments, and other charges applicable to the Land payable to
any property or community owner association under restrictive covenants or deed restrictions to which the Premises are subject; (6) the cost of any labor-saving or energy-saving device or other equipment installed in the Building or on the
Land, amortized over a period together with an amount equal to interest at an amortization rate on the unamortized balance, which calculation shall be reasonably determined by Landlord in accordance with generally accepted accounting practices;
(7) alterations, additions, and improvements made by Landlord to comply with Law (defined below) for which compliance is not required as of the Effective Date; and (8) wages and salaries of personnel up to and including the level of
Property Manager, such costs shall be reasonably allocated to reflect time such employees are devoted to the Building (versus other buildings). Any Operating Expenses that are common to some or all of the buildings in the Stonelake project may be
equitably apportioned to the Building. For the purpose of determining Tenant’s Proportionate Share of Operating Expenses, “controllable” Operating Expenses shall not increase by more than five percent (5%) per year on a
cumulative and compounded basis (for example, if controllable Operating Expenses are $3.00 / rsf in year one, then they shall not exceed $3.15 in year two, $3.31 in year three, $3.48 in year four and so on). It is understood and agreed that
controllable Operating Expenses shall not include snow, ice and trash removal, utility expenses, taxes, management fees that are based on a percentage of revenue or expenses (to the extent such percent is not increased), insurance premiums,
extraordinary repairs, costs incurred to comply with any governmental requirements for which compliance was not required as of the Effective Date, and any other cost beyond the reasonable control of Landlord except those costs for services which
Landlord self-performs. The foregoing cap shall not be applicable miring the first year of the term during any extension or renewal of this Lease (i.e., such cap shall be “reset” during any extension or renewal of this Lease). 

2.3.1.2 Operating Expense Exclusions. Operating Expenses shall not include the following (1) any loan costs for interest,
amortization, or other payments on loans to Landlord; (2) expenses incurred in leasing or procuring tenants, including, but not limited to leasing commissions, advertising expenses and expenses for renovating of space for new tenants;
(3) legal expenses other than those incurred for the general benefit of the Building’s tenants, (4) allowances, concessions, and other costs of renovating or otherwise improving space (except for Common Areas) for occupants of the
Building or vacant space in the Building; (5) federal income taxes imposed on or measured by the income of Landlord from the operation of the Building; (6) rents due under ground leases; (7) costs incurred in selling, syndicating,
financing, mortgaging, or hypothecating any of Landlord’s interests in the Building, (8) wages and salaries of personnel above the level of Property Manager; (9) the cost to replace the roof and structure (repairs and maintenance of
roof and structure are allowable to the extent provided in Item 6 of Section 2.3.1.1 above);(10) costs incurred and reimbursed to Landlord due to violation by any tenant of the terms and conditions of any lease or other rental arrangement
covering space in the Stonelake project or any portion thereof; (11) any costs, fines and penalties incurred due to violations by Landlord or any other tenant of the Stonelake project, or their respective agents, employees or contractors, of
any governmental rule or authority; (12) reserves; (13) new building artwork (season decorations and flower arrangements are allowable), (14) political contributions, (15) charitable contribution, (16) any costs incurred by
Landlord in connection with the abatement of Hazardous Materials, (17) any costs incurred related to maintaining Landlord’s existence as an entity; (18) the cost of any repairs occasioned by eminent domain, whether or not covered by
the eminent domain award, and the cost of any repairs to the extent paid for by proceeds of insurance; (19) costs or fees relating to the defense of Landlord’s title to or interest in the Stonelake project; (20) costs incurred by
Landlord in connection with construction of the Building or any portion thereof and related facilities or the correction of latent defects in construction of the Building or any portion thereof; (21) costs incurred in providing services which
are separately invoiced and charged to Tenant and/or other tenants of the building or Stonelake project; (22) all items and services and goods for which Tenant or any other tenant, occupant, person or other party (including by way of insurance
proceeds or warranties) reimburses Landlord or pays third parties; and (23) replacement of the roof and structure. 

  
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 2.3.1.3 Operating Expense Calculation and Notices. The initial monthly payments
for Operating Expenses shall be calculated by taking 1/12 of Landlord’s estimate of Tenant’s Proportionate Share of Operating Expenses for a particular calendar year (or any portion of a year as determined by Landlord). The initial monthly
payments are estimates only, and shall be increased or decreased annually to reflect the projected actual Operating Expenses for a particular year. If Landlord fails to give Tenant notice of its estimate of Tenant’s Proportionate Share of
Operating Expenses in accordance with this subsection for any calendar year, then Tenant shall continue making Additional Rent payments in accordance with the estimate for the previous calendar year until a new estimate is provided by Landlord. If
during any year Landlord determines that, because of an unexpected increase in Operating Expenses or other reasons, Landlord’s estimate of Operating Expenses was too low, then Landlord shall have the right to give a new statement of the
estimated Proportionate Share of Operating Expenses due from Tenant for the applicable calendar year or the balance of the estimated amount and to bill Tenant for any deficiencies which have accrued during the calendar year or any portion of the
year, and Tenant shall then make monthly payments based on the new statement. Within a reasonable time after the end of each calendar year and the Expiration Date, Landlord shall prepare and deliver to Tenant a statement showing Tenant’s actual
Proportionate Share of Operating Expenses for the applicable calendar year, provided that with respect to the calendar year in which the Expiration Date occurs, (1) that the calendar year shall be deemed to have commenced on January 1 of
that year and ended on the Expiration Date (the “Final Calendar Year”) and (2) Landlord shall have the right to estimate the actual Operating Expenses allocable to the Final Calendar Year. Unless Tenant makes written exception
to any item within sixty (60) days after Landlord furnishes its annual statement (“Final Statement”) of Tenant’s Additional Rent, the statement shall be considered as final and accepted by Tenant. If Tenant’s total monthly
payments of its Proportionate Share for the applicable calendar year are more than Tenant’s actual Proportionate Share of Operating Expenses, then Landlord shall retain the excess and credit the amount against Tenant’s future Additional
Rent payments. With respect to the Final Calendar Year, Landlord shall pay to Tenant the amount of all excess payments, less any additional amounts then owed to Landlord within thirty (30) days following the date on which Landlord furnishes
Landlord’s Final Statement of Tenant’s Additional Rent. If Tenant’s total monthly payments of its Proportionate Share of Operating Expenses for any year are less than Tenant’s actual Proportionate Share of Operating Expenses for
that year, Tenant shall pay the difference to Landlord within thirty (30) days after Landlord’s request for payment. There shall be no duplication of costs for reimbursements in calculating Operating Expenses. 

Tenant shall have the right to conduct a Tenant’s Review, as hereinafter defined, at Tenant’s sole cost and expense (including,
without limitation, photocopy and delivery charges), upon thirty (30) days’ prior written notice to Landlord. “Tenant’s Review” shall mean a review of Landlord’s books and records relating to (and only relating to) the
Operating Expenses payable by Tenant hereunder for the most recently completed calendar year (as reflected on Landlord’s Final Statement) by a Certified Public Accountant (“CPA”) reasonably satisfactory to Landlord. Tenant must elect
to perform a Tenant’s Review by written notice of such election received by Landlord within sixty (60) days following Tenant’s receipt of Landlord’s Final Statement for the most recently completed calendar year. In the event that
Tenant fails to make such election in the required time and manner required or fails to diligently perform such Tenant’s Review to completion, then Landlord’s calculation of Operating Expenses shall be final and binding on Tenant. Tenant
hereby acknowledges and agrees that even if it has elected to conduct a Tenant’s Review, Tenant shall nonetheless pay all Operating Expenses to Landlord, subject to readjustment. Tenant further acknowledges that Landlord’s books and
records relating to the Building may not be copied in any manner, are confidential, and may only be reviewed at a location reasonably designated by Landlord; but Landlord will make such records available within the metropolitan area in which the
Premises is located. Tenant shall provide to Landlord a copy of Tenant’s Review as soon as reasonably possible after the date of such Review. If Tenant’s Review reflects a reimbursement owing to Tenant by Landlord, and if Landlord
disagrees with Tenant’s Review, then Tenant and Landlord shall jointly appoint an auditor to conduct a review (“Independent Review”), which Independent Review shall be deemed binding and conclusive on both Landlord and Tenant. If the
Independent Review results in a reimbursement owing to Tenant equal to five percent (5%) or more of the amounts reflected in the Final Statement, the costs of the Tenant’s Review and independent Review shall be paid by Landlord. Under no
circumstances shall Tenant conduct a review of Landlord’s books and records whereby the auditor operates on a contingency fee or similar payment arrangement. Any such reviewer must sign a commercially reasonable non-disclosure,
non-solicitation, and confidentiality agreement. 
 2.3.1.4 Grossed-Up Operating Expenses. If during any year the Building is
less than one hundred percent (100%) occupied, then, for purposes calculating Tenant’s Proportionate Share of Operating Expenses for year, the amount of Operating expenses that fluctuates with Building occupancy shall be
“grossed-up” to the amount which, in Landlord’s reasonable estimation, it would have been had the Building been one hundred percent (100%) occupied for that entire year. In the event that Landlord, in calculating the Operating
Expenses of the Building, 

  
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“grosses-up” the Operating Expenses that fluctuate with Building occupancy incurred during the year in question, then Landlord agrees that the “gross-up” of Expenses shall be
limited to Operating Expenses that fluctuate with Building occupancy and the following items of Operating Expenses shall not be adjusted in the “gross-up” calculation: (1) Taxes, (2) amortized capital improvements costs,
(3) insurance premiums, (4) landscaping expenses, and (5) any other fixed-cost items that are not subject to fluctuation based on occupancy. By way of example and not limitation, janitorial expenses and utility costs are subject to
this grossing up clause (and real estate taxes are not grossed up). 
 2.3.2 Late Fee. If any Rent or other payment required
of Tenant under this Lease is not paid when due, Landlord may charge Tenant, and Tenant shall pay upon demand a fee equal to five percent of the delinquent payment to reimburse Landlord for its cost and inconvenience incurred as a consequence of
Tenant’s delinquency. All such fees shall be Additional Rent. Tenant shall be entitled to written notice and a five (5) day cure period on one occasion during any twelve (12) month period before the late fee is assessed. 

2.4 Initial Monthly Rent. The amounts of the Initial monthly Base Rent and Additional Rent for Tenant’s Proportionate Share
of Operating Expenses and Taxes are set forth in the Summary of Lease Terms. 
 2.5 Security Deposit. Tenant shall deposit the
Security Deposit with Landlord on the date this Lease is executed by Tenant, which shall be held by Landlord to secure Tenant’s obligations under this Lease. The Security Deposit is not an advance rental deposit or a measure of Landlord’s
damages for an Event of Default (defined below). Landlord may use any portion of the Security Deposit to satisfy Tenant’s unperformed obligations under this Lease, to reimburse Landlord for performing any such obligations or to compensate
Landlord for its damages arising from Tenant’s failure to perform its obligations, without prejudice to any of Landlord’s other remedies. If so used, Tenant shall, upon request, pay Landlord an amount that will restore the Security Deposit
to its original amount. The Security Deposit shall be Landlord’s property. Tenant shall not be entitled to interest on any security deposit amount and Landlord may commingle such Security Deposit with any other of its funds. Tenant agrees that
it will not assign or encumber or attempt to assign or encumber the monies deposited with Landlord as the Security Deposit and that Landlord and its successors and assigns shall not be bound by any such actual or attempted assignment or encumbrance.
The unused portion of the Security Deposit will be returned to Tenant within forty-five (45) days after the later of the Expiration Date or the date on which Tenant surrenders the Premises, provided that Tenant has fully and timely performed
its obligations under this Lease. 
 3. TAXES 

3.1 Real Property Taxes. The term “Taxes” shall include all taxes, margin taxes, assessments and governmental
charges that accrue against the Premises, the Land, and the Building, whether federal, state, county, or municipal, and whether imposed by taxing or management districts or authorities presently existing or hereafter created. Landlord shall pay the
Taxes, and Tenant shall pay Landlord for Tenant’s Proportionate Share of the Taxes. If, during the Term, there is levied, assessed or imposed on Landlord a capital levy or other tax directly on the Rent; or a franchise tax, assessment, levy or
charge measured by or based, in whole or in part, upon the Rent; then all such taxes, assessments, levies or charges, or any part so measured or based, shall be included within the term “Taxes.” If the Building is occupied by more than one
tenant and the cost of any improvements constructed in the Premises for Tenant is disproportionately higher than the cost of improvements constructed in the premises of other tenants of the Building, then Landlord may require that Tenant pay the
amount of Taxes attributable to such improvements in addition to its Proportionate Share of other Taxes. In determining whether the cost of any improvements constructed in the Premises for Tenant is disproportionately higher than the cost of
improvements constructed in the premises of other tenants of the Building, Landlord will consider factors including, but not limited to, the following: (1) percentage of office finish of the Premises, (2) levels of office finish,
(3) and other differing and distinguishing factors between the improvements constructed in the Tenant’s Premises and the improvements constructed in the premises of other tenants which Landlord reasonably determines impact the assessed
value of the Taxes. 
 3.2 Personal Property Taxes. Tenant shall before delinquency pay all taxes and assessments levied or
assessed against any personal property, trade fixtures or alterations placed in or about the Premises; and upon Landlord’s request, deliver to it receipts from the applicable taxing authority or other evidence acceptable to Landlord to verify
that the taxes have been paid. If any such taxes are levied or assessed against Landlord or its property, and (1) Landlord pays them or (2) the assessed value of Landlord’s property is increased and Landlord

  
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pays the increased taxes, then Tenant shall pay to Landlord the amount of all such taxes within ten (10) days after Landlord’s request for payment. All such amounts shall bear interest
from the date paid by Landlord to the applicable taxing authority until reimbursed by Tenant at the rate set forth in Section 24.13. 
 4.
LANDLORD’S MAINTENANCE AND REPAIR OBLIGATIONS. 
 4.1 General. This Lease is intended to be a net lease.
Landlord’s maintenance obligations shall be limited to only the maintenance, repair and replacement of the Building’s roof, foundation, and any common areas, including but not limited to the elevators, lobbies and restrooms, maintenance of
the Land (including but not limited to the maintenance and replacement of landscaping, Parking Areas, and sidewalks) and maintenance of the structural members of the exterior walls (collectively the “Building’s Structure and Common
Areas “). Landlord shall not be responsible for: (1) any such maintenance until Tenant delivers to Landlord written notice of the need for maintenance, or (2) non-structural repairs to interior columns of the Building located
within the Premises. The Building’s Structure and Common Areas do not include skylights, windows, glass or plate glass, doors, special storefronts or office entries, all of which shall be maintained by Tenant. Except for maintaining the
Building’s Structure and Common Areas, Landlord shall not be required to maintain or repair at Landlord’s expense any other portion of the Premises, except for those repairs needed due to Landlord’s willful misconduct or negligence.
Landlord shall maintain and repair the Building in a manner consistent with other comparable buildings in the Austin market. LANDLORD’S LIABILITY FOR ANY DEFECTS, REPAIRS, REPLACEMENT OR MAINTENANCE FOR WHICH LANDLORD IS RESPONSIBLE UNDER THIS
LEASE SHALL BE LIMITED TO THE COST OF PERFORMING SUCH WORK. Any above Building-standard services supplied by Landlord to or for the benefit of Tenant shall be paid by Tenant in addition to Operating Expenses. 

5. TENANT’S MAINTENANCE AND REPAIR OBLIGATIONS  

5.1 Tenant’s Maintenance of the Premises. Tenant shall maintain all parts of the Premises except for maintenance work for
which Landlord is expressly responsible for under Section 4 in good condition and shall promptly make all necessary repairs and replacements to the Premises. All repairs and replacements performed by or on behalf of Tenant shall be performed in
a good and workmanlike manner acceptable in all respects to Landlord, and in accordance with Landlord’s standards applicable to alterations or improvements performed by Tenant. 

5.2 Tenant’s Maintenance of the Common Areas. Tenant shall pay its Proportionate Share for Landlord to maintain the Common
Areas, including, without limitation, the Parking Areas, truck courts, driveways, alleys and grounds surrounding the Premises in a clean and sanitary condition, consistent with the reasonable operation of a first-class office/warehouse building.
Tenant’s maintenance obligations shall specifically exclude, the prompt maintenance, repair and replacement of (1) the exterior of the Building, including painting, (2) the irrigation sprinkler systems and sewage lines, and
(3) any other items reasonably associated with the foregoing. Tenant shall repair and pay for any damage caused by a Tenant Party (defined below) or caused by any failure by Tenant to perform obligations under this Lease. Tenant and any Tenant
Party shall not do anything that would inhibit or prevent other tenants’ use and enjoyment of the Common Areas. Tenant shall be responsible only for maintenance of all interior improvements to the Premises (excluding all exterior walls) but
including interior lights, HVAC equipment serving the Premises, and all other interior fixtures and improvements. 
 5.3 HVAC
System. Landlord shall deliver the HVAC System, as hereinafter defined, as well as the Building systems servicing the Premises, to Tenant in good working order and repair. Tenant shall maintain, the heating, air conditioning and ventilation
equipment and system and the hot water equipment (collectively the “HVAC System”) in good repair and condition and in accordance with Law and with the equipment manufacturers’ suggested operation/maintenance service program.
Such obligation shall include the replacement of all equipment necessary to maintain the HVAC System servicing the Premises in good working order. Within thirty (30) days after the Commencement Date, Tenant shall deliver to Landlord copies of
contracts entered into by Tenant for regularly scheduled preventive maintenance and service contracts for the HVAC System, each contract in a form and substance and with a contractor reasonably acceptable to Landlord. At least fourteen
(14) days before the Expiration Date, the earlier termination of this Lease, or the termination of Tenant’s right to possess the Premises, Tenant shall deliver to Landlord a certificate from an engineer reasonably acceptable to Landlord
certifying that the HVAC System is then in good repair and working order. 

  
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 Landlord will warrant all HVAC systems for a period of six (6) months following the
Commencement Date and shall be responsible for any and all repair/replacement (but not Tenant’s quarterly maintenance charges) costs during such period (except for damage caused by Tenant’s failure to properly maintain the HVAC system or
the negligence of Tenant or its agents, employees or contractors). In the event that the HVAC unit servicing the Premises requires replacement at any time during the Term after such six month period, as evidenced by a written report from
Tenant’s service provider, Tenant shall reimburse Landlord for the portion of the replacement cost for such existing HVAC Unit (the “Replacement Cost”) equal to the product obtained by multiplying the Replacement Cost by a fraction,
the numerator of which shall be the number of days subsequent to the installation of such unit until and including the last day of the Term, and the denominator of which shall be 3,650 (which is the number of days in a ten year useful life for such
unit). Such replacement must also be due to ordinary wear and tear (and not due to any misuse or abuse of the unit by Tenant or failure of Tenant to properly maintain the unit). All such replacements will be subject to Landlord’s written
approval of the same. Tenant shall pay Tenant’s portion of such Replacement Costs as Additional Rent on a monthly basis based amortized at a 9% annual rate of interest over the remainder of the term of this Lease. 

5.4 Landlord’s Optional Performance of Tenant’s Obligations. Landlord has the right, but not the obligation, to
perform or provide any maintenance, repairs or replacements to be performed by Tenant under Section 5 and to provide any utility service that Tenant is required to provide under Section 8 below, upon ten (10) days prior written notice
to Tenant. If Tenant fails to perform or provide any maintenance, repairs or replacements to be performed by Tenant under Section 5 or to provide any utility service which Tenant is required to provide under Section 8 below, and should
Landlord elect to do so after the notice period set forth in the preceding sentence, then Tenant shall reimburse Landlord for all expenses and costs incurred by Landlord in performing Tenant’s obligations plus an additional five percent such
amount to compensate Landlord for the overhead and administrative costs relating to the performance of all such obligations. All such amounts owing pursuant to this Section 5 shall be deemed Rent under this Lease, which Tenant shall pay
Landlord within ten (10) days after Landlord’s request for payment. 
 6. ALTERATIONS BY TENANT. 

6.1 No Tenant Alterations. Tenant shall not make any changes, modifications, alterations, additions or improvements to the
Premises, or install any heat or cold generating equipment, or other equipment, machinery or devices in the Premises or any other part of the Building without the prior written consent of Landlord, which consent shall not be unreasonably withheld,
conditioned or delayed. Provided that (i) Tenant is not then in default beyond any applicable notice, cure or grace period, (ii) Tenant provides prior written notice to Landlord of the proposed work, (iii) Tenant complies with all
laws, insurance requirements and lien covenants, (iv) the proposed work is decorative and does not affect the Building’s structure or the electrical, mechanical, plumbing, or life/safety systems of the Building, and (vi) no building
permit (or similar permit) is required, and (vi) the aggregate (per project) cost of such work does not exceed $1,000.00, then Landlord’s consent shall not be required. 

6.2 Requirements for Landlord’s Written Consent. Landlord shall not be required to notify Tenant of whether it consents to
any alterations until it has received plans and specifications (if required) which are reasonably detailed to allow construction of the work depicted in them to be performed in a good and workmanlike manner, and Landlord has had a reasonable
opportunity to review them. Without in any way limiting Landlord’s rights to refuse its consent to Tenant’s proposed alterations, if Landlord consents in writing to Tenant’s proposed alterations, then Landlord’s consent shall be
conditioned without limitation on all of the following: (1) Landlord’s approval of the contractor making the alterations and approving each contractor’s insurance coverage provided in connection with the alterations,
(2) Landlord’s supervision of the installation, (3) Landlord’s approval of final plans and specifications for the alterations, (4) the appropriate governmental agency, if any, having final and complete plans and
specifications for such work, and (5) Landlord’s determination of whether any alterations to the Premises, or installations of any equipment would do any of the following: (i) affect structural or load bearing portions of the Premises
or the Building, (ii) result in a material increase of electrical usage above the normal type of amount of electrical current to be provided by Landlord, (iii) impact mechanical, electrical or plumbing systems in the Premises or the
Building, (iv) negatively affect areas of the Premises that can be viewed from Common Areas, or (v) violate any provision in Sections 13 or 26 of this Lease or Exhibit B, attached hereto. If the alterations will affect the Building’s
Structure and Common Areas, HVAC System, or mechanical, electrical, or plumbing systems, then the plans and specifications must be prepared by a licensed engineer. Landlord’s approval of any plans and specifications shall not be a
representation that the plans or the work depicted in them will comply with any applicable Law (defined below) or be adequate for any purpose, but shall merely be 

  
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Landlord’s consent to Tenant’s installation of the alterations. Landlord shall have the right, but not the obligation, to periodically inspect the work in the Premises with 24 hours
prior written notice to Tenant and may require changes in the method or quality of the work if Tenant has not complied with the provisions hereof. If Landlord’s consent is granted, any such Alterations shall be made at Tenant’s sole cost
and expense. 
 6.3 Tenant’s Obligations. Upon completion of any Alteration, Tenant shall deliver to Landlord accurate,
reproducible “as-built” plans. If Tenant has not delivered to Landlord the as-built drawings within thirty (30) days of completion of the alterations, Landlord may contract for production of as-built drawings at Tenant’s sole
cost and expense by providing Tenant five (5) business days written notice of Landlord’s intent to contract for such drawings. Tenant shall reimburse Landlord for such costs within ten (10) days of Landlord’s request for payment.
All work performed by Tenant in the Premises, including work relating to the alterations or their repair, shall be performed in a good and workmanlike manner in accordance with Law (defined below) and with Landlord’s and Landlord’s
insurance carriers’ specifications and requirements. 
 6.4 Ownership of Alterations. Upon the Expiration Date or earlier
termination of this Lease, Tenant shall return the Premises to Landlord clean and in the condition existing at the time Tenant took possession of the Premises, except for: (1) ordinary wear and tear, (2) damage that Landlord has the
obligation to repair under the terms of this Lease, (3) all changes, modifications, alterations, additions or improvements that Tenant does not have the obligation to remove under the terms of this Section 6.4, and (4) damage by
casualty. Except as provided below, all changes, modifications, alterations, additions or improvements and property at the Premises (including wall to wall carpeting, paneling or other wall covering and any other surface material attached to or
affixed to the floor, wall or ceiling of the Premises) will remain in and be surrendered with the Premises upon the Expiration Date or earlier termination of this Lease, and Tenant waives all rights to any payment, reimbursement or compensation for
the property that must remain at the Premises in accordance with this subsection. Tenant must, however, remove from the Premises prior to the Expiration Date or earlier termination of this Lease any changes, modifications, alterations, additions or
improvements that Landlord has designated for removal at the time of Landlord’s written approval of such changes, modifications, alterations additions or improvements. Tenant shall only have to remove alterations for which Landlord notifies
Tenant of such removal at the time of Landlord’s approval. Tenant shall not be required to remove from the Premises any of the changes, modifications, alterations, additions or improvements that are contemplated in Exhibit “B” or
those that do not require Landlord’s approval. Tenant must promptly repair any damage to the Premises caused by its removal of personal property changes, modifications, alterations, additions or improvements. 

6.5 Trade Fixtures. Tenant may erect shelves, bins, machinery and trade fixtures provided that such items (I) do not alter
the basic character of the Premises or the Building; (2) do not overload or damage the same; and (3) may be removed without damage to the Premises. Unless Landlord specifies in writing otherwise, all alterations, additions, and
improvements shall be Landlord’s property when installed and remaining in the Premises on the Expiration Date. Tenant shall have the right to remove trade fixtures, etc. upon the expiration or earlier termination of the Lease provided that
Tenant repair any damage caused by such removal. 
 6.6 Construction Management Fee. In connection with any such Alteration,
Tenant shall pay to Landlord a “Construction Management Fee” of five percent (5%) of all costs incurred for such work. 
 7.
SIGNS. 
 7.1 Premises’ Exterior. Tenant shall not without Landlord’s prior written consent
(1) make any changes to the exterior of the Premises or the Building, (2) install any exterior lights, decorations, balloons, flags, pennants, banners or paintings, (3) erect or install any signs, windows, blinds, draperies, window
treatments, bars, security installations, or door lettering, decals, window or glass-front stickers, placards, decorations or advertising media of any type that is visible from the exterior of the Premises. As to (3) only, such consent shall
not be unreasonably withheld, delayed or conditioned. 
 7.2 Requirements for Landlord’s Written Consent. Landlord shall
not be required to notify Tenant in writing of whether it consents to any sign until Landlord (1) has received detailed, to-scale drawings specifying the design, material composition, color scheme, and method of installation, and (2) has
had ten (10) days to review them. Notwithstanding the foregoing, Landlord shall not unreasonably withhold its consent. 

  
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 7.3 Sign Requirements. Signs and lettering will generally be as reflected in
Exhibit E, if applicable. Tenant shall erect any signs in accordance with the plans and specifications, in a good and workmanlike manner, in accordance with all Laws and architectural guidelines in effect for the area in which the Building is
located and will obtain all requisite approvals (the “Sign Requirements”), and in a manner so as not to unreasonably interfere with the use of the Building grounds while such construction is taking place; thereafter, Tenant shall maintain
the sign in a good, clean, and safe condition in accordance with the Sign Requirements. 
 7.4 Sign Removal. After the
Expiration Date or earlier termination of this Lease or after Tenant’s right to possess the Premises has been terminated pursuant to Section 20, Landlord may require that Tenant remove the sign by delivering to Tenant written notice within
thirty (30) days after the termination of the Lease. If Landlord so requests, Tenant shall within ten (10) days after Tenant’s receipt of the notice remove the sign, repair all damage caused by the sign and its installation and
removal, and restore the Building to its condition before the installation of the sign including, but not limited to, making the following restoration and repair work: hole punching, electrical work, and repair of Building exterior discoloration or
fading made noticeable by removal of the signage. If Tenant fails timely to remove the sign and perform the repair work, Landlord may, without compensation to Tenant, (1) use the sign, or (2) at Tenant’s expense, remove the sign,
perform the related restoration and repair work, and dispose of the sign in any manner Landlord deems appropriate. 
 8. UTILITIES. Tenant
shall obtain and pay for all electricity, heat, telephone, used at the Premises, together with any taxes, penalties, surcharges, maintenance charges, and similar charges pertaining to Tenant’s use of the Premises. Tenant shall heat the Premises
as necessary to prevent any freeze damage to the Premises or any portion. Tenant’s use of electric current shall at no time exceed the capacity of the feeders or lines to the Building or the risers or wiring installation of the Building or the
Premises. Landlord may, at Tenant’s expense, separately meter and bill Tenant directly for its use of any such utility service, in which case the amount separately billed to Tenant for Building standard utility service shall not be duplicated
in Tenant’s obligation to pay Additional Rent under Section 2.3. Landlord shall not be liable for any interruption or failure of utility service to the Premises, unless such interruption is the result of Landlord’s gross negligence or
willful misconduct, and Tenant shall not be entitled to any abatement or reduction of Rent by reason of any interruption or failure of utilities or other services to the Premises. Any interruption or failure in any utility or service shall not be
construed as an eviction, constructive or actual of Tenant or as a breach of the implied warranty of suitability, and shall not relieve Tenant from the obligation to perform any covenant or agreement under this Lease. In no event shall Landlord be
liable for damage to persons or property, including, without limitation, business interruption, damages, or shall Landlord be in default under this Lease, as a result of any such interruption or failure. All amounts due from Tenant under this
Section 8 shall be payable within ten (10) days after Landlord’s request for payment. 
 Notwithstanding anything to the contrary contained
in this Section 8, if an interruption or termination of utility service results from the gross negligence or willful misconduct of Landlord or any of its employees, agents or contractors and continues for at three (3) business days after
such interruption or cessation, Rent shall thereafter be abated for the period which commences on the fourth (4th) business day of such interruption or cessation and ends on the date such
utility service is restored. 
 9. INSURANCE BY TENANT. Tenant shall, during the Lease Term, procure at its expense and keep in force the
following insurance: 
 9.1 Tenant’s Liability Insurance. Commercial general liability insurance against any and all
claims for bodily injury and property damage occurring in, or about the Premises arising out of Tenant’s use and occupancy of the Premises. Such insurance shall have a combined single limit of not less than One Million Dollars ($1,000,000) per
occurrence with a Two Million Dollar ($2,000,000) aggregate limit and excess umbrella liability insurance in the amount of One Million Dollars ($1,000,000). Such liability insurance shall be primary and not contributing to any insurance available to
Landlord and Landlord’s insurance shall be in excess thereto. In no event shall the limits of such insurance be considered as limiting the liability of Tenant under this lease. 

9.2 Tenant’s Property Insurance. Personal property insuring all equipment, trade fixtures, inventory, fixtures, and
personal property located on or in the Premises for perils covered by the causes of loss—special form (all risk) and in addition, coverage for flood, wind, earthquake, terrorism and boiler and machinery (if applicable). Such insurance shall be
written on a replacement cost basis in an amount equal to one hundred percent (100%) of the full replacement value of the aggregate of the foregoing. 

  
 10 

 9.3 Business Interruption Insurance. Business interruption and extra expense
insurance in such amounts to reimburse Tenant for direct or indirect loss attributable to all perils commonly insured against by prudent tenants or attributable to prevention of access to the Premises or the Building as result of such perils. 

9.4 Workers’ Compensation/Employers Liability Insurance. To the extent required in the State of Texas, workers’
compensation insurance in accordance with statutory law. 
 9.5 Increase in Coverage. Following the initial term of this Lease
and on not more than one (1) occasion during any three (3) year period thereafter, Landlord may, by notice to Tenant, require an increase in policy limits or require that Tenant carry other forms of insurance; provided that the same are
commercially reasonable and in keeping with the insurance requirements of owners of similar properties in the applicable submarket in which the Premises is located. 

9.6 General Requirements. The policies required to be maintained by Tenant shall be with companies rated A- X or better by A.M.
Best. Insurers shall be licensed to do business in the state in which the Premises are located and domiciled in the USA. Any deductible amounts under any insurance policies required hereunder shall not exceed $10,000, unless Tenant has a tangible
net worth in excess of $10,000,000 as evidenced by financial statements supplied to Landlord. Certificates of insurance (certified copies of the policies may be required) shall be delivered to Landlord prior to the Commencement Date and annually
thereafter at least thirty (30) days prior to the policy expiration date, which shall identify Landlord, Landlord’s property management company and any applicable lender as additional insureds. Tenant shall have the right to provide
insurance coverage which it is obligated to carry pursuant to the terms hereof in a blanket policy, provided such blanket policy expressly affords coverage to the Premises and to Landlord as required by this Lease. Each policy of insurance shall
require that the insurer shall use their best efforts to provide notification to Landlord at least thirty (30) days prior to any cancellation or modification to reduce the insurance coverage. 

9.7 Failure to Maintain. In the event Tenant does not purchase the insurance required by this lease or keep the same in full
force and effect, Landlord may, but shall not be obligated to purchase the necessary insurance and pay the premium, after five (10) days written notification to Tenant of Landlord’s intention. The Tenant shall repay to Landlord, as
additional rent, the amount so paid promptly upon demand. In addition, Landlord may recover from Tenant and Tenant agrees to pay, as additional rent, any and all reasonable expenses (including attorneys’ fees) and damages which Landlord may
sustain by reason of the failure to Tenant to obtain and maintain such insurance. 
 9.8 Landlord’s Insurance. Landlord
shall keep in force during the Term insurance in such other amounts and coverages as Landlord or its lenders and/or beneficiaries deem appropriate and commercially reasonable. Without limitation to the generality of the foregoing, Landlord shall
keep in full force and effect insurance in at least the following minimum types and levels: 
 (1) Fire, extended coverage and vandalism and
malicious mischief insurance insuring the Building and related improvements; 
 (2) A commercially reasonable policy of Commercial General
Liability insurance with limits substantially consistent with similar buildings in the applicable submarket; and 
  

	(3)	Such other insurance as Landlord deems necessary in its sole and absolute discretion. 

 All insurance
policies shall be issued in the names of Landlord and Landlord’s lender, and any other party reasonably designated by Landlord as an additional insured, as their interests appear. The insurance policies shall provide that any proceeds shall be
made payable to Landlord, or to the holders of mortgages or deeds of trust encumbering Landlord’s interest in the Premises or Project, or to any other party reasonably designated by Landlord as an additional insured, as their interests shall
appear. All insurance premiums for Landlord’s insurance shall be included in Operating Expenses. 

  
 11 

 10. SUBROGATION OF RIGHTS OF RECOVERY. Landlord and Tenant hereby mutually waive their respective
rights of recovery against each other for any loss of, or damage to, either parties’ property, to the extent that such loss or damage is insured by an insurance policy (or in the event either party elects to self insure any property coverage
required) required to be in effect at the time of such loss or damage. Each party shall obtain any special endorsements, if required by its insurer whereby the insurer waives its rights of subrogation against the other party. The provisions of this
clause shall not apply in those instances in which waiver of subrogation would cause either party’s insurance coverage to be voided or otherwise made uncollectible. 

11. CASUALTY DAMAGE. 

11.1 Total Destruction. Tenant immediately shall give written notice to Landlord of any damage to the Premises, the Building, or
the Land. If the Premises, the Building, or the Land are totally destroyed by an insured peril, or so damaged by an insured peril that, in Landlord’s insurance appraiser’s estimation, rebuilding or repairs cannot be substantially completed
(exclusive of leasehold improvements Tenant makes) within one-hundred and eighty (180) days after the date of Landlord’s actual knowledge of the damage, then Landlord may terminate this Lease by delivering to Tenant written notice of
termination within thirty (30) days after the damage. If the Premises, the Building, or the Land are totally destroyed by an insured peril, or so damaged by an insured peril that, in Landlord’s appraiser’s estimation, rebuilding or
repairs cannot be substantially completed (exclusive of leasehold improvements Tenant makes) within one-hundred and eighty (180) days after the date of Landlord’s actual knowledge of the damage, then Landlord may, at its expense, relocate
Tenant to space reasonably comparable to the Premises, at no increased financial obligation to the Tenant, provided that Landlord notifies Tenant of its intention to do so in a written notice delivered to Tenant within thirty (30) days after
the damage. Such relocation may be for a portion of the remaining Term or the entire Term. Landlord shall complete any such relocation within ninety (90) days after Landlord has delivered such written notice to Tenant. 

If the Premises, the Building, or the Land are totally destroyed by an insured peril, or so damaged by an insured peril that, in
Landlord’s estimation, rebuilding or repairs cannot be substantially completed (exclusive of leasehold improvements Tenant makes) within one-hundred and eighty (180) after the date of Landlord’s actual knowledge of the damage, and if
Landlord does not elect to relocate Tenant following such damage to the Premises or the Building, and a Tenant Party did not cause such damage, then Tenant may terminate this Lease by delivering to Landlord written notice of termination within
fifteen (15) days following the date on which Landlord notifies Tenant in writing of the estimated time for the restoration. Notwithstanding the foregoing, Tenant may not terminate the Lease if a Tenant Party caused the damage. 

In either event, the Rent shall be abated during the unexpired portion of this Lease, effective upon the date the damage occurred. Time is of
the essence with respect to the delivery of all notices of damage and termination. Notwithstanding the foregoing, the Rent shall not be abated if a Tenant Party caused the damage or if Tenant falls to keep in force the insurance describes in
Section 9 above, except to the extent that Landlord actually receives proceeds from rental interruption insurance applicable this Lease. 

11.2 Restoration of Premises. Subject to Section 11.3, if this Lease is not terminated under Section 11.1, (or if the
Building or the Premises are damaged but not totally destroyed by any insured peril, and in Landlord’s estimation, rebuilding or repairs can be substantially completed within one-hundred and eighty (180) days after the date of
Landlord’s actual knowledge of such damage, in which event this Lease shall not terminate), then Landlord shall restore the Premises to substantially its previous condition, except that Landlord shall not be required to rebuild, repair or
replace any part of the alterations, other improvements, or personal property required to be covered by Tenant’s insurance under Section 9. If the Premises are untenantable, in whole or in part, during the period beginning on the date the
damage occurred and ending on the date of substantial completion of Landlord’s repair or restoration work (the “Repair Period”), then the rent for that period shall be reduced to such extent as may be fair and reasonable
under the circumstances and the Term shall be extended by the number of days in the Repair Period, provided that the Rent shall be abated only to the extent Landlord is compensated for all Rent amounts by the insurance described in Section 9
above. Notwithstanding the foregoing, the Rent shall not be abated if Tenant Party caused the damage or if Tenant fails to keep in force the insurance described in Section 9 above. 

  
 12 

 11.3 Insurance. If the Premises are destroyed or substantially damaged by any peril
not covered by the insurance maintained by Landlord or any Landlord’s Mortgagee (defined below) requires that insurance proceeds be applied to the indebtedness secured by its Mortgage (defined below) or to the Primary Lease (defined below)
obligations, or the insurance proceeds available to Landlord to restore the building are insufficient in Landlord’s opinion, then Landlord may terminate this Lease by delivering written notice of termination to Tenant within thirty
(30) days of the later of the date upon which any destruction or damage incurred, or the date upon which Landlord learns there are not enough insurance proceeds, or Landlord learns of any such requirement by any Landlord’s Mortgagee, as
applicable. In the event Landlord terminates the Lease, all rights and obligations hereunder shall cease and terminate, except for any liabilities of Tenant, which accrued before the Lease terminates. 

12. LIABILITY, INDEMNIFICATION, AND NEGLIGENCE. 

12.1 TENANT’S INDEMNITY OF LANDLORD. SUBJECT TO SECTION 12.2 TENANT SHALL INDEMNIFY, DEFEND, AND HOLD HARMLESS THE
INDEMNIFIED PARTIES (AS DEFINED IN SECTION 24.1) FROM AND AGAINST ALL FINES, SUITS, LOSSES, COSTS, LIABILITIES, CLAIMS, DEMANDS, ACTIONS AND JUDGMENTS OF EVERY KIND OR CHARACTER (1) ARISING FROM TENANT’S FAILURE TO PERFORM ITS COVENANTS
UNDER THIS LEASE, (2) RECOVERED FROM OR ASSERTED AGAINST ANY OF THE INDEMNIFIED PARTIES ON ACCOUNT OF ANY LOSS (DEFINED BELOW IN SECTION 12.2) TO THE EXTENT THAT ANY SUCH LOSS MAY BE INCIDENT TO, ARISE OUT OF, OR BE CAUSED. WHOLLY OR IN PART,
BY A TENANT PARTY (DEFINED BELOW IN SECTION 24.1) OR ANY OTHER PERSON ENTERING UPON THE PREMISES UNDER OR WITH A TENANT PARTY’S EXPRESS OR IMPLIED INVITATION OR PERMISSION, (3) ARISING FROM OR OUT OF TENANT’S OCCUPANCY OR USE OF THE
PREMISES, OR (4) ARISING FROM THE NEGLIGENCE, OF TENANT OR ITS AGENTS, EMPLOYEES, SUBLESSEES, ASSIGNEES OR CONTRACTORS. INDEMNIFICATION OF THE INDEMNIFIED PARTIES BY TENANT SHALL NOT APPLY TO THE EXTENT SUCH LOSS DAMAGE, OR INJURY IS CAUSED BY
THE NEGLIGENCE OR WILLFUL MISCONDUCT OF ANY OF THE INDEMNIFIED PARTIES OR THE BREACH OF THIS LEASE BY LANDLORD. 
 12.2
LIABILITY. THE INDEMNIFIED PARTIES (AS DEFINED IN SECTION 24.1) SHALL NOT BE LIABLE TO THE TENANT PARTIES FOR ANY INJURY TO OR DEATH OF ANY PERSON OR PERSONS OR THE DAMAGE TO OR THEFT, DESTRUCTION, LOSS, OR LOSS OF USE OF ANY PROPERTY
OR INCONVENIENCE (COLLECTIVELY AND INDIVIDUALLY A “LOSS”) CAUSED BY CASUALTY, THEFT, FIRE, THIRD PARTIES, REPAIR, OR FAILURE TO REPAIR, OR ALTERATION OF ANY PART OF THIS BUILDING, OR ANY OTHER CAUSE, UNLESS DUE TO THE NEGLIGENCE OR
WILLFUL MISCONDUCT OF ANY INDEMNIFIED PARTY, IN WHOLE OR IN PART. 
 12.3 LANDLORD’S INDEMNITY OF TENANT. SUBJECT
TO APPLICABLE WAIVERS OF SUBROGATION, OTHER WAIVERS AND LIMITATIONS ON LIABILITY, LANDLORD SHALL INDEMNIFY, DEFEND, AND HOLD HARMLESS THE TENANT PARTIES FROM AND AGAINST ALL FINES, SUITS, LOSSES, COSTS, LIABILITIES, CLAIMS, DEMANDS, ACTIONS AND
JUDGMENTS OF EVERY KIND OR CHARACTER, TO THE EXTENT CAUSED BY (1) THE BREACH OF THIS LEASE BY LANDLORD, OR (2) THE NEGLIGENCE OR WILLFUL MISCONDUCT OF LANDLORD OR ANY OTHER INDEMNIFIED PARTY. INDEMNIFICATION OF THE TENANT PARTIES BY
LANDLORD SHALL NOT APPLY TO THE EXTENT SUCH LOSS, DAMAGE, OR INJURY IS CAUSED BY THE NEGLIGENCE OR WILLFUL MISCONDUCT OF ANY OF THE TENANT PARTIES. 

12.4 Survival. The provisions of this Section 12 shall survive the expiration or earlier termination of this Lease. 

13. USE; COMPLIANCE WITH LAWS; PARKING. 

13.1 Permitted Use. The Premises shall, subject to the remaining provisions of this Section, be used only for receiving, storing,
shipping and selling products, materials and merchandise made or distributed by Tenant, and for no other purpose without Landlord’s prior written consent, which consent shall not be unreasonably withheld, delayed or conditioned. No retail sales
may be made from the Premises. The Premises shall not be used for any use which is disreputable, and no part of the Premises shall be used as an escort service, a massage parlor or spa, blood bank, abortion clinic, or for the sale, distribution or
display (electronically or otherwise) of materials or merchandise of a pornographic nature or merchandise generally sold in an adult book or adult videotape store (which are defined as stores in which any portion of the inventory is not available
for sale or rental to children under 18 years 

  
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old because such inventory explicitly details with or depicts human sexuality). Tenant shall not sell, display, transmit or distribute (electronically or otherwise) materials or merchandise of a
pornographic nature or merchandise generally sold in an adult book or adult video tape store (as defined above). Tenant shall not use the Premises as living or sleeping quarters or a residence. Tenant shall not use the Premises to receive, store or
handle any product, material or merchandise that is explosive or highly inflammable or hazardous or would violate any provision in Section 26. Outside storage, including without limitation, storage in non-operative or stationary trucks,
trailers and other vehicles, and vehicle maintenance or repair is prohibited without Landlord’s prior written consent. Tenant shall keep the Premises neat and clean at all times. Tenant shall not permit any objectionable or unpleasant odors,
smoke, dust, gas, light, noise or vibrations to emanate from the Premises; nor commit, suffer or permit any waste in or upon the Premises; nor at any time sell, purchase or give away or permit the sale, purchase or gift of food in any form by or to
any of Tenant’s agents or employees or other parties in the Premises except through vending machines in employees’ lunch or rest areas within the Premises for use by Tenant’s employees only; nor take any other action that would
constitute a public or private nuisance or would disturb the quiet enjoyment of any other tenant of the Building, or unreasonably interfere with, or endanger Landlord or any other person; nor permit the Premises to be used for any purpose or in any
manner that would (1) void the insurance thereon, (2) increase the insurance risk, (3) violate any Law (defined below) including, but not limited to, any zoning ordinance, or (4) be dangerous to life, limb or property. Tenant
shall pay to Landlord on demand any increase in the cost of any insurance on the Premises or the Building incurred by Landlord, which is caused by Tenant’s use of the Premises, and acceptance of such payment shall not constitute a waiver of any
of Landlord’s other rights or remedies nor a waiver of Tenant’s duty to comply herewith. 
 13.2 Compliance with
Laws. Tenant shall be solely responsible for satisfying itself and Landlord that the Permitted Use will comply with all applicable Laws. Tenant shall, at its sole cost and expense, be responsible for complying with all Laws (defined below) and
Rules and Regulations (defined below) applicable to the use, occupancy, and condition of the Premises. Tenant shall promptly correct any violation of a Law, or Rules or Regulations with respect to the Premises. Tenant shall comply with any direction
of any governmental authority having jurisdiction which imposes any duty upon Tenant or Landlord with respect to the Premises, Building, and/or Land, or with respect to the occupancy or use thereof. 

13.3 Compliance with Rules and Regulations. Tenant will comply with such rules and regulations (the “Rules and
Regulations”) generally applying to tenants in the Building as may be adopted from time to time by Landlord and enforced uniformly and without prejudice for the management, cleanliness of, and the preservation of good order and protection
of the Premises, the Building and the Land. A current copy of the Rules and Regulations applicable to the Building is attached hereto as Exhibit D. All such Rules and Regulations are hereby made a part hereof. All changes and amendments to
the Rules and Regulations sent by Landlord to Tenant in writing and conforming to the foregoing standards shall be carried out and observed by Tenant. Landlord hereby reserves all rights necessary to implement and enforce the Rules and Regulations
and each and every provision of this Lease. 
 Landlord and Tenant acknowledge that in accordance with the provisions of the Americans with
Disabilities Act (the “ADA”), responsibility for compliance with the terms and conditions of Title III of the ADA may be allocated as between Landlord and Tenant. Notwithstanding anything to the contrary contained in the Lease, Landlord
and Tenant agree that the responsibility for compliance with the ADA shall be allocated as follows: (i) Tenant shall be responsible for compliance with the provisions of Title III of the ADA with respect to existing conditions within the
Premises (including, without limitation, the entry and doors thereto) during the Term and the construction by Tenant of alterations within the Premises and (ii) Landlord shall be responsible for compliance with the provisions of Title III of
the ADA with respect to the Initial Improvements and Landlord’s Work, the exterior of the Building, Parking Areas, sidewalks and hallways, and the areas appurtenant thereto, together with all other Common Areas of the Building not included
within the Premises. Landlord and Tenant each agree to indemnify and hold each other harmless from and against any claims, damages, costs, and liabilities arising out of Landlord’s or Tenant’s failure, as the case may be, to comply with
Title III of the ADA as set forth above, which indemnification obligation shall survive the expiration or termination of this Lease. Landlord and Tenant each agree that the allocation of responsibility for ADA compliance shall not require Landlord
or Tenant to supervise, monitor, or otherwise review the compliance activities of the other with respect to its assumed responsibilities for ADA compliance as set forth herein. 

  
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 13.4 Parking. Tenant and its employees, agents and invitees shall have the
non-exclusive right to use, in common with others, of any parking areas associated with the Building which Landlord has designated for such use (the “Parking Areas”), subject to (1) such Rules and Regulations (as defined
herein) as Landlord may promulgate from time to time and (2) rights of ingress and egress of other tenants and their employees, agents and invitees. Landlord does not reserve or allocate parking spaces at the Premises nor guarantee its
availability on a daily basis. However, in no instance shall Tenant allow its employees, agents and invitees to occupy more spaces in the Parking Areas that exceed the ratio of four (4) parking spaces per 1,000 rentable square feet of the
Premises. Tenant shall take reasonable measures to ensure that its employees, agents and invitees do not occupy more than the above referenced quantity of parking. Landlord shall take reasonable efforts to ensure that such ratio is available for use
by Tenant. Tenant shall only permit parking by its employees, agents or invitees of appropriate vehicles in appropriate designated Parking Areas. Landlord shall not be responsible for enforcing Tenant’s parking rights against any third parties.

 14. INSPECTION; ACCESS AND RIGHT OF ENTRY; NEW CONSTRUCTION. Without being deemed or construed as committing an actual or constructive
eviction of Tenant and without abatement of Rent, Landlord and Landlord’s agents and representatives may enter the Premises during business hours, with twenty-four (24) hours prior notice, to inspect the Premises; to make such repairs as
may be required or permitted under this Lease; to perform any unperformed obligations of Tenant hereunder; and to show the Premises to prospective purchasers, mortgagees, ground lessors, and, during the last six (6) months of the Term, tenants.
Tenant hereby waives any claim for damages for any injury or inconvenience or interference with Tenant’s business, and any loss of occupancy or quiet enjoyment of the Premises. Landlord shall have the right to use any and all means which
Landlord may deem proper to enter the Premises in an emergency without liability therefor. During the last six (6) months of the Term, Landlord may erect a sign on the Building indicating that the Premises are available for lease. Tenant shall
notify Landlord in writing of its intention to vacate the Premises at least thirty (30) days before Tenant will vacate the Premises (in order to accommodate the Joint Inspection as set forth in Section 17.1 below); such notice shall
specify the date on which Tenant intends to vacate the Premises (the “Vacation Date”). Furthermore, Landlord hereby reserves the right and at all times shall have the right to repair, change, redecorate, alter, improve, modify,
renovate, enclose or make additions to any part of the Building, Building’s Structure and Common Areas or the Land, to enclose and/or change the arrangement and/or location of driveways or Parking Areas or landscaping or other Common Areas; and
to construct new improvements on adjacent parcels of land, all, Tenant agrees, without having committed an actual or constructive eviction of Tenant or breach of the implied warranty of suitability and without an abatement of Rent (the
“Reserved Right”). When exercising the Reserved Right, Landlord will use reasonable efforts not to unreasonably interfere with Tenant’s use and occupancy of the Premises. 

15. ASSIGNMENT AND SUBLETTING. 

15.1 Transfers. Tenant shall not, without the prior written consent of Landlord, which consent shall not be unreasonably
withheld, delayed or conditioned, (1) assign, transfer, or encumber this Lease or any estate or interest herein, whether directly or by operation of law, (2) permit any other entity to become Tenant hereunder by merger, consolidation, or
other reorganization, (3) if Tenant is an entity other than a corporation whose stock is publicly traded, permit the transfer of an ownership interest in Tenant so as to result in a change in the current control of Tenant, (4) sublet any
portion of the Premises, (5) grant any license, concession, or other right of occupancy of any portion of the Premises, or (6) permit the use of the Premises by any parties other than Tenant (any of the events listed in Sections 15.1
(1) through (6) being a “Transfer”). If Tenant requests Landlord’s consent to a Transfer, then Tenant shall provide Landlord with a written description of all terms and conditions of the proposed Transfer, copies of
the proposed documentation, and the following information about the proposed transferee: name and address; reasonably satisfactory information about its business and business history; its proposed use of the Premises; and financial and other credit
information sufficient to enable Landlord to determine the proposed transferee’s creditworthiness and character. 
 15.2
Landlord’s Written Consent Requirements. In determining whether Landlord shall consent to any proposed assignment or subletting of the Premises, Landlord may consider any factors, including, without limitation, the following:
provided that the proposed transferee (1) has creditworthiness reasonably acceptable to Landlord (and Tenant has supplied to Landlord reasonably detailed financial statements to Landlord), (2) has a good reputation in the business
community, (3) is not negotiating for competing space within the complex of which the Premises is a part, (4) will use the Premises consistent with the permitted use allowed under the Lease which shall not be environmentally harmful as
agreed to in Section 26 of this Lease. In addition, the Transfer shall not constitute a violation 

  
 15 

 
of the Employee Retirement Income Security Act of 1974, as amended (ERISA). In the event the proposed transferee does not meet all the above factors, then Landlord may withhold its consent in its
sole discretion. Tenant shall reimburse Landlord for its reasonable attorneys’ fees and other expenses incurred in connection with considering any request for its consent to a Transfer, which such costs in total shall not exceed Three Thousand
Dollars ($3,000) per transaction, in addition to a fee of Five Hundred Dollars ($500.00) which Tenant will submit to Landlord along with its written request for review of the proposed assignment or subletting, regardless of whether Landlord
subsequently grants its approval of the proposed assignment or subletting. 
 15.3 Obligations of Tenant and Proposed
Transferee. If Landlord consents to a proposed Transfer, then the proposed transferee shall deliver to Landlord a written agreement, in a form satisfactory to Landlord, whereby the proposed transferee expressly assumes the Tenant’s
obligations hereunder (however, in the event of transfer of less than all of the space In the Premises the proposed transferee shall be liable only for obligations under this Lease that are properly allocable to the space subject to the Transfer,
and only to the extent of the rent it has agreed to pay Tenant). Landlord’s consent to a Transfer shall not release Tenant from performing its obligations under this Lease, but rather Tenant and its transferee shall be jointly and severally
liable. No such Transfer shall constitute a novation. Landlord’s consent to any Transfer shall not waive Landlord’s rights as to any subsequent Transfers. If a default occurs while the Premises or any part thereof are subject to a
Transfer, then Landlord, in addition to its other remedies, may collect directly from such transferee all rents becoming due to Tenant and apply such rents against Tenant’s Rent obligations. Tenant authorizes its transferees to make payments of
Rent directly to Landlord upon receipt of notice from Landlord to do so. If Landlord should fail to notify Tenant in writing of its decision within the thirty (30) day period after Landlord’s receipt of Tenant’s written request for
Landlord’s consent to a Transfer, then Landlord shall be deemed to have refused to consent to the proposed Transfer and to have elected to keep this Lease in full force and effect; provided, however, Tenant may thereafter send a second written
request to transfer (which will include a copy of the first request) and if Landlord fails to respond within five (5) business days following receipt thereof, Landlord will be deemed to have granted its consent. 

15.4 Landlord’s Recapture Right. This Section 15.4 shall not apply to either Permitted Transfers or to subleases of
less than substantially all of the Premises. Within thirty (30) days after Landlord’s receipt of Tenant’s submission of Tenant’s written request for Landlord’s consent to a Transfer, Landlord shall have the option (without
limiting Landlord’s other rights under this Lease) of terminating this Lease (or, as to a subletting or assignment, terminate this Lease as to the portion of the Premises proposed to be sublet or assigned) as of the latter of either: upon
thirty (30) days notice or the date the proposed Transfer was to be effective. If Landlord terminates this Lease as to all or any portion of the Premises, then this Lease shall cease for such portion of the Premises and Tenant shall pay to
Landlord all Rent accrued through the cancellation date relating to the portion of the Premises covered by the proposed Transfer. Thereafter, Landlord may lease all or such portion of the Premises to the prospective transferee (or to any other
person or entity) without liability to Tenant. 
 15.5 Excess Rent. Notwithstanding anything to the contrary contained in
Section 15 of this Lease, Tenant hereby assigns, transfers and conveys fifty percent (50%) of any excess consideration, after accounting for brokerage fees, legal fees, tenant finish out dollars and free rent concessions and marketing
expenses, received by Tenant under any Transfer, which is in excess of the Rent payable by Tenant under this Lease, and Tenant shall hold such amounts in trust for Landlord and pay them to Landlord within thirty (30) days after receipt. The
above excess consideration shall be limited in subleases. Landlord should not be entitled to any excess consideration resulting from an assignment which might be profit to Tenant as part of the larger transaction. 

Notwithstanding anything contained in this Section 15 or elsewhere in this Lease to the contrary, Tenant may, so long as Tenant is not in
default hereunder beyond any applicable notice and cure period and upon at least thirty (30) days’ prior written notice to Landlord, but without the prior written consent of Landlord, assign or transfer its interest in this Lease, or
sublet the Premises or any part thereof, to the following “Permitted Transferees”: (i) the purchaser of all or substantially all of Tenant’s assets, (ii) any corporation, limited partnership, limited liability partnership,
limited liability company, or other business entity in which, with which or to which Tenant, or its successors or assigns, is merged, consolidated or sold, in accordance with applicable statutory provisions and other laws governing merger,
consolidation and sale of business entities, (iii) any entity which controls Tenant, is controlled by Tenant or is under common control with Tenant, or (iv) any individual, corporation, limited partnership, limited liability partnership,
limited liability company or other business entity that subleases, licenses, concessions or otherwise occupies or uses not 

  
 16 

 
more than fifty percent (50%) of the Premises (each of the foregoing transfers being referred to herein individually as a “Permitted Transfer”, and collectively as “Permitted
Transfers”). With respect to this Lease “control” and the corresponding terms “controlled by” and “under common control with” shall mean ownership of more than fifty percent (50%) of the outstanding voting
stock of a corporation or other majority equity and controlling interest if not a corporation or the possession of power, directly or indirectly, to direct or cause the direction of the management and policy of such corporation or other entity,
whether through the ownership of voting securities or interests, by statute, according to the provisions of a contract, or otherwise. Notwithstanding the foregoing, Landlord’s consent will be required (but not unreasonably withheld) if any of
the foregoing will result in the Tenant under this Lease having a tangible net worth of less than that of Tenant immediately prior to such transfer (and Tenant shall provide financial statements (pro forma) evidencing that the same is not the case).

 16. CONDEMNATION. If more than fifty percent of the Premises is taken for any public or quasi-public use by right of eminent domain or
private purchase in lieu thereof (a “Taking”), and the Taking prevents or materially interferes with the use of the remainder of the Premises for the purpose for which they were leased to Tenant, either party may terminate this
Lease by delivering to the other written notice thereof within thirty (30) days after the Taking, in which case Rent shall be abated during the unexpired portion of the Term, effective on the date of such Taking. If (1) less than fifty
percent of the Premises are subject to a Taking or (2) more than fifty percent of the Premises are subject to a Taking, but the Taking does not prevent or materially interfere with the use of the remainder of the Premises for the purpose for
which they were released to Tenant, then neither party may terminate this Lease, but the Rent payable during the unexpired portion of the Term shall be reduced to such extent as may be fair and reasonable under the circumstances. All compensation
awarded for any Taking shall be the property of Landlord, and Tenant hereby assigns any interest it may have in any such award to Landlord; however, Landlord shall have no interest in any separate award made to Tenant (which does not reduce
Landlord’s award) for loss of Tenant’s business or goodwill, for the taking of Tenant’s trade fixtures, or on account of Tenant’s moving and relocation expenses and depreciation to and removal of Tenant’s physical personal
property, if a separate award for such items is made to Tenant. 
 17. SURRENDER AND REDELIVERY OF PREMISES; HOLDING OVER. 

17.1 Surrender and Redelivery of Premises. No act by Landlord shall be an acceptance of a surrender of the Premises, and no
agreement to accept a surrender of the Premises shall be valid, unless it is in writing and signed by Landlord. Tenant’s delivery of the keys or access cards to Property Manager or any agent or employee of Landlord shall not operate as a
termination of this Lease or a surrender of the Premises. 
 17.1.1 Joint Inspection. At least thirty (30) days before
the Vacation Date, Tenant shall arrange to meet with Landlord for a joint inspection of the Premises. After such inspection, Landlord shall prepare a list of items that Tenant must perform before the Vacation Date. If Tenant fails to arrange for
such inspection, then Landlord may conduct such inspection and Landlord’s determination of the work Tenant is required to perform before the Vacation Date shall be conclusive. If Tenant fails to perform such work before the Vacation Date, then
Landlord may perform such work at Tenant’s cost. Tenant shall pay all cost incurred by Landlord in performing such work within ten (10) days after Landlord’s request thereof. 

17.1.2 Tenant’s Payment Obligations. Tenant shall also, prior to vacating the Premises, pay to Landlord the amount, as
reasonably estimated by Landlord, of Tenant’s obligation hereunder for Operating Expenses for the year in which the Term ends. All such amounts shall be used and held by Landlord for payment of such obligations of Tenant hereunder, with Tenant
being liable for any additional costs therefor upon demand by Landlord or with any excess to be returned to Tenant after all such obligations have been determined and satisfied as the case may be. Any Security Deposit held by Landlord may be
credited against the amount due by Tenant under this Section 17. 
 17.1.3 Condition of Premises. After the Expiration
Date or earlier termination of this Lease, or the termination of Tenant’s right to possess the Premises, Tenant shall (1) deliver to Landlord the Premises in a safe, “broom clean,” neat, sanitary, and operational condition with
all improvements and alterations as set forth in Section 6.4 located thereon in good repair and condition, subject to the exclusions set forth in Section 6.4, and with the HVAC System, lights and light fixtures (including ballasts), and
overhead doors and related equipment in good working order, (2) deliver to Landlord the Premises with steam cleaned carpets and with concrete floors in the warehouse and 

  
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manufacturing areas which have been sealed, (3) deliver to Landlord all keys and parking and access cards to the Premises, and (4) remove all signage placed on the Premises, the
Building, or the Land by or at Tenant’s request. All fixtures, alterations, additions and improvements (whether temporary or permanent) shall be Landlord’s property and shall remain on the Premises, except as provided in the next two
sentences. Provided that Tenant has performed all of its obligations hereunder, Tenant may remove all unattached trade fixtures, furniture, and personal property placed in the Premises by Tenant (but Tenant shall not remove any such item which was
paid for, in whole or in part, by Landlord). Additionally, Tenant shall remove such alterations, additions, improvements, fixtures, equipment, wiring, furniture, trade fixtures and other property as Landlord may request, provided such request is
made within forty-five (45) days after the Expiration Date or earlier termination of this Lease. All items not so removed shall, at the sole option of Landlord, be deemed abandoned by Tenant and may be appropriated, sold, stored, destroyed, or
otherwise disposed of by Landlord without notice to Tenant and without any obligation to account for such items, and Tenant shall pay for the costs incurred by Landlord in connection therewith. All work required of Tenant under this Section 17
shall be coordinated with Landlord and be done in a good and workmanlike manner, in accordance with all Laws (defined below), and so as not to damage the Building or unreasonably interfere with other tenants’ use of their premises. Tenant
shall, at its expense, repair all damage caused by any work performed by Tenant under this Section 17, provided that in the case of alterations or improvements that Tenant is required to remove, Tenant shall restore the Premises to the
condition existing prior to the installation of such alterations, subject to the exclusions set forth in Section 6.4. If Tenant fails to perform work under this Section 17, Tenant shall pay all costs incurred by Landlord in performing such
work within ten (10) after Landlord’s request thereof. 
 17.2 Holding Over. If a Tenant Party fails to vacate the
Premises after the Expiration Date or earlier termination of this Lease, then a Tenant Party’s possession of the Premises shall constitute and be construed as a tenancy at will only, subject, however, to all of the terms, provisions, covenants
and agreements on the part of Tenant under this Lease, and such Tenant Party shall be subject to immediate eviction and removal; Tenant or any such Tenant Party covenants and agrees to pay Landlord, in addition to the other Rent due hereunder, if
any, as Rent for the period of such holdover a prorated daily Base Rent equal to the sum of one hundred fifty percent (150%) of the daily Base Rent plus one hundred percent (100%) of the Additional Rent, both payable during the last month
of the Term. Tenant’s possession of the Premises after the Expiration Date or earlier termination of this Lease shall immediately constitute an Event of Default under Section 19.5 herein. The Rent during such holdover period shall be
payable to Landlord from time to time on demand; provided, however, if no demand is made during a particular month, holdover rent accruing during such month shall be paid in accordance with the provisions of this Section 17. Tenant will vacate
the Premises and deliver same to Landlord immediately upon Tenant’s receipt of notice from Landlord to so vacate. No holding over by a Tenant Party (whether with or without the consent of Landlord), and no payments of money by Tenant to
Landlord after the end of the Term, shall operate to reinstate, continue or extend the Term, and no extension of this Term shall be valid unless evidenced by a writing signed by both Landlord and Tenant. No payments of money by Tenant (other than
the holdover rent accruing during such holdover period paid in accordance with the provisions of this Section 17) to Landlord after the Expiration Date or earlier termination of this Lease shall constitute full payment of Rent under the terms
of this Lease. Tenant shall be liable for all damages resulting from a Tenant Party’s unauthorized holding over. 
 18. QUIET ENJOYMENT.
Provided Tenant has fully performed its obligations under this Lease, Tenant shall peaceably and quietly hold and enjoy the Premises for the Term, without hindrance from Landlord or any party claiming by, through or under Landlord, but not
otherwise, subject, however, to all of the provisions of this Lease and all Laws (defined below), liens, encumbrances and restrictive covenants to which the Land is subject. Landlord shall not be responsible for the acts or omissions of any other
tenant or third party that may interfere with Tenant’s use and enjoyment of the Premises. 
 19. EVENTS OF DEFAULT. The occurrence of any
of the following events shall constitute an “Event of Default” under this Lease: 
 19.1 Monetary Default;
Failure to Pay Rent. Tenant fails to pay Rent when due or any payment or reimbursement required under this Lease when due, and in either case such failure continues for a period of five (5) business days from the date such payment was due;
provided, however, Tenant shall be entitled to written notice and five (5) business day cure period on two (2) occasions during any twelve (12) month period, not to exceed a total of five (5) such notices and cure periods, before
Tenant shall be deemed to be in default. 

  
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 19.2 Bankruptcy; Insolvency. The filing of a petition by or against Tenant
(1) in any bankruptcy or other insolvency proceeding; (2) seeking any relief under any debtor relief law; (3) for the appointment of a liquidator, receiver, trustee, custodian, or similar official for all or substantially all of
Tenant’s property or for Tenant’s interest in this Lease; or (4) for reorganization or modification of Tenant’s capital structure (however, if any such petition is filed against Tenant, then the filing of such petition shall not
constitute an Event of Default, unless it is not dismissed within 90 days after the filing thereof). 
 19.3 Vacation; Failure to
Continuously Operate. Tenant (1) vacates all or a substantial portion of the Premises or (2) fails to continuously operate its business at the Premises for the permitted use set forth herein. However, Tenant shall be allowed to cease
operations in the Building without causing and Event of Default, provided that Tenant: (1) delivers to Landlord a written notice of a forwarding address where Landlord can provide required notice under this Lease, (2) maintains its
regularly scheduled HVAC maintenance program as required in Section 5.3 herein, (3) and preventative maintenance agreements with vendors reasonably approved by the Landlord to maintain the interior of the Premises, including the
mechanical, electrical, and plumbing systems in a clean and adequate condition, (4) promptly upon demand reimburses Landlord for any increases in Landlord’s insurance attributable to Tenant’s vacation of the Premises (and Landlord
supplies to Tenant advance notice of such increase along with a written statement from the applicable insurer regarding evidencing that the increase is due to the vacancy), and (5) no Event of Default by Tenant exists with respect to any of the
terms, covenants and conditions, hereof, including the timely payment of all Rent to Landlord when due or any payment or reimbursement required under this Lease. 

19.4 Liens; Encumbrances. Tenant fails to discharge any lien placed upon the Premises in violation of Section 23 within ten
(10) days after any Rich lien or encumbrance is filed against the Premises. 
 19.5 Non-Monetary Default; Failure to
Perform. Tenant fails to comply with any term, provision or covenant of this Lease (other than those listed in this Section 19), and such failure continues for fifteen (15) days after Tenant’s receipt of written notice by Landlord
to Tenant of such failure (except in connection with any failure which cannot be remedied or cured within said fifteen (15) day period, in which event the time within which to cure such failure shall be extended for such time as shall be
necessary to cure the same, but only if Tenant, within such fifteen (15) day period, shall promptly commence and thereafter proceed diligently and continuously to cure such failure). 

20. REMEDIES. 
 20.1
During the continuance of any Event of Default, Landlord may, in addition to all other rights and remedies afforded Landlord hereunder or by Law, take any of the following actions: 

20.1.1 Terminate the Lease. Terminate this Lease by giving Tenant written notice thereof, in which event, Tenant shall pay to
Landlord the sum of (1) all Rent accrued hereunder through the date of termination, (2) all amounts due under Section 20.2, and (3) an amount equal to (i) the total Rent that Tenant would have been required to pay for the
remainder of the Term, discounted to present value at a per annum rate equal to the “Prime Rate” as published on the date this Lease is terminated by The Wall Street Journal, Southwest Edition, in its listing of “Money Rates”,
minus (ii) that portion of the present fair rental value of the Premises for the residue of the Term that Landlord will have the benefit of (similarly discounted), taking into to consideration marketing time, improvement time, whether Landlord
has alternative space available (Landlord not being obligated to lease the Premises before leasing other available space), customary rental abatement concessions, and other relevant factors (Tenant shall have the burden of proof with respect to the
fair rental value of the Premises for such time period); or 
 20.1.2 Terminate Tenant’s Right of Possession. Terminate
Tenant’s right to possess the Premises without terminating this Lease by giving written notice thereof to Tenant, in which event Tenant shall pay to Landlord (1) all Rent and other amounts accrued hereunder to the date of termination of
possession, (2) all amounts due from time to time under Section 20.2, and (3) all Rent and other sums required hereunder to be paid by Tenant during the remainder of the Term, diminished by any net sums thereafter received by Landlord
through reletting the Premises during such period. Landlord shall use commercially reasonable efforts (consistent with applicable law) to mitigate its damages after an Event of Default by Tenant; provided, however, Landlord does not guaranty that
any such mitigation efforts shall be successful. Further, Landlord shall not be obligated to relet the Premises before leasing other portions of the Building, and Tenant’s obligations hereunder shall not be diminished because of Landlord’s

  
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failure to relet the Premises or to collect Rent due for a reletting. Tenant shall not be entitled to the excess of any consideration obtained by reletting over the Rent due hereunder. Reentry by
Landlord in the Premises shall not affect Tenant’s obligations hereunder for the unexpired Term; rather, Landlord may, from time to time, bring action against Tenant to collect amounts due by Tenant, without the necessity of Landlord’s
waiting until the expiration of the Term. Actions to collect amounts due by Tenant to Landlord under this subsection may be brought from time to time on one or more occasions, without the necessity of Landlord waiting until the Expiration Date of
this Lease. Unless Landlord delivers written notice to Tenant expressly stating that it has elected to terminate this Lease, all actions taken by Landlord to exclude or dispossess Tenant of the Premises shall be deemed to be taken under this
subsection. If Landlord elects to proceed under this Section 20.1.2, it may at any time elect to terminate this Lease under Section 20.1.1; or 

20.1.3 Lock Out. Additionally, without notice, Landlord may alter locks or other security devices at the Premises to deprive
Tenant of access thereto, and Landlord shall not be required to provide a new key or right of access to Tenant. This Lease supersedes Section 93.002 of the Texas Property Code to the extent of any conflict. 

20.2 Landlord’s Other Rights and Remedies. During the continuance of any Event of Default, Tenant shall pay to Landlord all
reasonable costs incurred by Landlord (including reasonable court costs and attorneys’ fees and expenses) in (1) obtaining possession of the Premises, (2) removing any storing Tenant’s or any other occupant’s property,
(3) repairing, restoring, altering, remodeling or otherwise putting the Premises into condition acceptable to a new tenant, (4) reletting all or any part of the Premises (including pro-rated brokerage commissions, pro-rated cost of tenant
finish work, and other costs incidental to such reletting), (5) performing Tenant’s obligations which Tenant failed to perform, and (6) enforcing, or advising Landlord of, its rights, remedies, and recourses. Landlord’s
acceptance of Rent following an Event of Default shall not waive Landlord’s rights regarding such Event of Default. Landlord’s receipt of Rent with knowledge of any default by Tenant hereunder shall not be a waiver of such default, and no
waiver by Landlord of any provision of this Lease shall be deemed to have been made unless set forth in writing and signed by Landlord. No waiver by Landlord of any violation or breach of any of the terms contained herein shall waive Landlord’s
rights regarding any future violation of such term or violation of any other term. If Landlord repossesses the Premises pursuant to the authority herein granted, then Landlord shall have the right to (i) keep in place and use or
(ii) remove and store, at Tenant’s expense, all of the furniture, trade fixtures, equipment and other personal property in the Premises, including that which is owned by or leased to Tenant at all times before any repossession thereof by
any lessor thereof or third party having a lien thereon. Landlord may relinquish possession of all or any portion of such furniture, trade fixtures, equipment and other property to any person (a “Claimant”) who presents to Landlord
a copy of any instrument represented by Claimant to have been executed by Tenant (or any predecessor of Tenant) granting Claimant the right under various circumstances to take possession of such furniture, trade fixtures, equipment or other property
without the necessity on the part of Landlord to inquire into the authenticity or legality of the instrument. Landlord may, at its option and without prejudice to or waiver of any rights it may have, (a) escort Tenant to the premises to
retrieve any personal belongings of Tenant and/or its employees or (b) obtain a list from Tenant of the personal property of Tenant and/or its employees, and make such property available to Tenant and/or Tenant’s employees; however, Tenant
first shall pay in cash all costs and estimated expenses to be incurred in connection with the removal of such property and making it available. The rights of Landlord herein stated in this Section 20 are cumulative and in addition to any and
all other rights that Landlord has or may hereafter have at law or in equity, and Tenant hereby agrees that the rights herein granted Landlord are commercially reasonable. 

20.3 Landlord’s Recapture Right. After Tenant’s vacation of all or a substantial part of the Premises and a resulting
Event of Default under Section 19.3, Landlord shall have the option (without limiting Landlord’s other rights under this Lease) of terminating this Lease upon written notice to the Tenant. If Landlord terminates this Lease as to all or any
portion of the Premises, then this Lease shall cease for such portion of the Premises and Tenant shall pay to Landlord all Rent accrued through the cancellation date relating to the portion of the Premises covered by the Landlord’s termination.
Thereafter Landlord’s termination will be without liability to Tenant. 
 21. LANDLORD’S DEFAULT AND LIMITATIONS OF LIABILITY.

 21.1 DEFAULTS BY LANDLORD. If Landlord fails to perform any of its obligations hereunder within thirty (30) days
(or such longer period as may reasonably be required) after written notice from Tenant specifying such failure, Tenant’s exclusive and sole remedy shall be an action for damages. Tenant is granted no contractual right of termination by the
Lease, except to the extent and only to the extent set forth in Section 11.1 and 16. 

  
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 21.2 LIMITATIONS ON LANDLORD’S LIABILITY. THE LIABILITY OF LANDLORD TO A
TENANT PARTY FOR ANY DEFAULT BY LANDLORD, SHALL BE LIMITED TO ACTUAL AND DIRECT DAMAGES. IN NO EVENT SHALL LANDLORD BE LIABLE TO A TENANT PARTY FOR CONSEQUENTIAL OR SPECIAL DAMAGES BY REASON OF A FAILURE TO PERFORM (OR A DEFAULT) BY LANDLORD
HEREUNDER OR OTHERWISE. EXCEPT FOR CLAIMS WHICH MAY BE COVERED BY INSURANCE IF A TENANT PARTY SHALL RECOVER A MONEY JUDGMENT AGAINST LANDLORD, THE TENANT PARTY AGREES THAT SUCH MONEY JUDGMENT SHALL BE SATISFIED SOLELY BY LANDLORD’S INTEREST IN
THE PREMISES AND BUILDING, AS THE SAME MAY THEN BE ENCUMBERED, AND LANDLORD, ITS AFFILIATES, PARTNERS, OFFICERS, DIRECTORS, SHAREHOLDERS AND EMPLOYEES SHALL NOT BE LIABLE OTHERWISE FOR ANY OTHER CLAIM ARISING OUT OF OR RELATING TO THIS LEASE.

 LANDLORD SHALL NOT BE LIABLE TO A TENANT PARTY FOR ANY CLAIMS, ACTIONS, DEMANDS, COSTS, EXPENSES, DAMAGE, OR LIABILITY OF ANY KIND ARISING FROM
THE USE, OCCUPANCY OR ENJOYMENT OF THE PREMISES BY A TENANT PARTY AS A RESULT OF ANY LOSS OR DAMAGE TO PROPERTY OF TENANT OR OF OTHERS LOCATED IN THE PREMISES OR THE BUILDING BY REASON OF THEFT OR BURGLARY. 

21.3 Examination of Lease; No Contract Until Execution by Parties. Submission by Landlord of this instrument to Tenant for
examination or signature does not constitute a reservation of or option for lease. This Lease will be effective as a lease or otherwise only upon execution by both Landlord and Tenant. If Tenant is a corporation (including any form of professional
association), limited liability company, partnership (general or limited), or other form of organization other than an individual, then each individual executing this Lease on behalf of Tenant hereby covenants, warrants and represents: (1) that
such individual is duly authorized to execute and deliver this Lease on behalf of Tenant in accordance with the organizational documents of Tenant; (2) that this Lease is binding upon Tenant; (3) that Tenant is duly organized and legally
existing in the state of its organization, and is qualified to do business in the State of Texas; (4) that upon request, Tenant will provide Landlord with true and correct copies of all organizational documents of Tenant, and any amendments
thereto; and (5) that the execution and delivery of this Lease by Tenant will not result in any breach of, or constitute a default under, any mortgage, deed of trust, lease, loan, credit agreement, partnership agreement or other contract or
instrument to which Tenant is a party or by which Tenant may be bound. If Tenant is a form of organization other than an individual, Tenant will, prior to the Commencement Date, deliver to Landlord written documentation reasonably satisfactory to
Landlord evidencing the authority of an authorized representative of Tenant to enter into the Lease and bind Tenant to all of the obligations of Tenant under the Lease. 

22. MORTGAGES. 
 22.1
Lease Subordinate to Mortgage. This Lease shall be subordinate to any deed of trust, mortgage or other security instrument (a “Mortgage”), and any ground lease, master lease, or primary lease (a “Primary
Lease”) that now or hereafter covers any portion of the Premises (the mortgagee under any Mortgage or the lessor under any Primary Lease is referred to herein as “Landlord’s Mortgagee”), and to increases,
renewals, modifications, consolidations, replacements, and extensions thereof. However, any landlord’s Mortgagee may elect to subordinate its Mortgage or Primary Lease (as the case may be) to this Lease by delivering written notice thereof to
Tenant. The provisions of this Section 22 shall be self-operative and no further instrument shall be required to effect such subordination; however, Tenant shall from time to time but not more than once per year, within thirty (30) days
after request therefor, execute any instruments that may be required by any Landlord’s Mortgagee to evidence the subordination of this Lease to any such Mortgage or Primary Lease. Following a the second written notice to Tenant and a three
(3) business day cure period, and in addition to Landlord’s other available remedies, Tenant shall pay Landlord a late fee of One Hundred Dollars ($100.00) per day for each day such instruments are not returned past said three
(3) business day period. Furthermore, Tenant shall be liable to Landlord for any and all damages caused by Tenant’s delinquency which results in delays to the closing of such mortgage or other financing activity. 

  
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 22.2 Attornment. Tenant shall attorn to any party succeeding to Landlord’s
interest in the Premises, whether by purchase, foreclosure, deed in lieu of foreclosure, power of sale, termination of lease, or otherwise, upon such party’s request, and shall execute such agreements confirming such attornment as such party
may reasonably request. Tenant shall not seek to enforce any remedy it may have for any default on the part of Landlord without first giving written notice by certified mail, return receipt requested, specifying the default in reasonable detail to
any Landlord’s Mortgagee whose address has been given to Tenant, and affording such Landlord’s Mortgage a reasonable opportunity to perform Landlord’s obligations hereunder. 

22.3 No Landlord’s Mortgagee’s Liability. Notwithstanding any such attornment or subordination of a Mortgage or
Primary Lease to this Lease, the Landlord’s Mortgagee shall not be liable for any acts of any previous landlord, shall not be obligated to install the initial improvements, and shall not be bound by any amendment to which it did not consent in
writing nor any payment of Rent made more than one month in advance. 
 23. ENCUMBRANCES. 

23.1 No Liens. Tenant has no authority, express or implied, to create or place any lien or encumbrance of any kind or nature
whatsoever upon, or in any manner to bind Landlord’s property or the interest of Landlord or Tenant in the Premises or to charge the rent for any claim in favor of any person dealing with Tenant, including those who may furnish materials or
perform labor for any construction or repairs. Tenant shall timely pay or cause to be paid all sums due for any labor performed or materials furnished in connection with any work performed on the Premises by or at the request of Tenant.
Notwithstanding the foregoing, Tenant shall give Landlord immediate written notice of the placing of any lien or encumbrance against the Premises, Building or Land. 

23.2 Landlord’s Rights. In the event that Tenant shall not, within ten (10) days following notification to Tenant of
the imposition of any such lien, cause the same to be released of record by payment or the posting of a bond in amount, form and substance acceptable to Landlord, Landlord shall have, in addition to all other remedies provided herein and by law, the
right but not the obligation, to cause the same to be released by such means as it shall deem proper, including payment of or defense against the claim giving rise to such lien. Nothing in this Lease shall be deemed or construed in any way as
constituting the consent or request of Landlord, express or implied, by inference or otherwise, to any contractor, subcontractor, laborer or materialman for the performance of any labor or the furnishing of any materials for any specific
improvement, alteration or repair of or to the Building or the Premises or any part thereof, nor as giving Tenant any right, power or authority to contract for or permit the rendering of any services or the furnishing of any materials that would
give rise to the filing of any mechanic’s or other liens against the interest of Landlord in the Building, Land or the Premises. Nothing in this Section 23 modifies an Event of Default under Section 19.4 herein. 

24. MISCELLANEOUS. 
 24.1
Laws; Affiliate; Tenant Party. Words of any gender used in this Lease shall include any other gender, and words in the singular shall include the plural, unless the context otherwise requires. The captions inserted in this Lease are for
convenience only and in no way affect the interpretation of this Lease. The following terms shall have the following meanings: “Laws” shall mean all federal, state, and local laws, zoning ordinances, municipal regulations,
rules and regulations; all court orders, governmental directives, and governmental orders, all Environmental Laws (as defined below), all applicable laws, regulations and building codes governing nondiscrimination accommodations and commercial
facilities, and all restrictive covenants affecting the Property, and “Law” shall mean any of the foregoing; “Affiliate” shall mean any person or entity which, directly or indirectly, controls, is
controlled by, or is under common control with the party in question; “Tenant Party” or collectively the “Tenant Parties” shall include Tenant, any assignees claiming by, through, or under Tenant, any
subtenants claiming, by, through, or under Tenant, and any of their respective agents, contractors, employees, and invitees; and “Indemnified Parties” shall include Landlord, its successors, assigns, agents, employees,
contractors, Property Manager, partners, directors, officers and affiliates. 
 24.2 Joint and Several Liability. If there is
more than one Tenant, then the obligations hereunder imposed upon Tenant shall be joint and several, whether or not Tenant’s obligations arise during the Original Term of this Lease, during any renewal or extension or a holdover term or
thereafter. 

  
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 24.3 Landlord’s Assignment; Authority of Tenant. Landlord may transfer and
assign, in whole or in part, its rights and obligations in the Building, Land, or Premises that are the subject to this Lease, in which case Landlord shall have no further liability hereunder provided such transferee assumes Landlord’s
obligations under this Lease in writing. 
 24.4 Force Majeure. Whenever a period of time is herein prescribed for action to
be taken by Landlord or Tenant, the party taking the action shall not be liable or responsible for, and there shall be excluded from the computation of any such period of time, any delays due to strikes, riots, acts of God, shortages of labor or
materials, war, terrorism, governmental actions or inactions or laws, regulations, or restrictions, or any other cause of any kind whatsoever which are beyond the control of such acting party; provided, however, in no event shall the foregoing apply
to the financial obligations of Tenant under this Lease, including, without limitation, Tenant’s obligation to promptly pay Base Rent, Additional Rent, reimbursements or any other amount payable to Landlord as well as Tenant’s obligation
to maintain insurance hereunder. 
 24.5 Certificate of Occupancy; Financial Statements; Estoppel Certificates. Prior to
Tenant’s occupancy of the Premises, Tenant shall obtain and deliver to Landlord a Certificate of Occupancy for the Premises from the appropriate governmental authority. Tenant shall, from time to time but not more than once every six
(6) months, within ten (10) business days after request of Landlord, deliver to the Landlord or Landlord’s designee, the most recently compiled financial statements for Tenant, evidence reasonably satisfactory to Landlord that Tenant
has performed its obligations under this Lease (including evidence of the payment of the Security Deposit), and an estoppel certificate stating that this Lease is in full effect, the date to which Rent has been paid, the unexpired Term and such
other factual matters pertaining to this Lease as may be requested by Landlord. Tenant’s obligation to furnish the above-described items in a timely fashion is a material inducement for Landlord’s execution of this Lease. Following the
second written notice to Tenant and a three (3) business day cure period, and in addition to Landlord’s other available remedies, Tenant shall pay Landlord a late fee of One Hundred Dollars ($100.00) per day for each day such estoppel
certificate is not returned past said three (3) day period. Furthermore, Tenant shall be liable to Landlord for any and all damages caused by Tenant’s delinquency which results from Tenant’s failure to execute such estoppel
certificate. 
 24.6 Entire Agreement. This Lease, together with all Exhibits and Riders attached hereto, constitutes the
entire agreement of the Landlord and Tenant with respect to the subject matter of this Lease, and contains all of the covenants and agreements of Landlord and Tenant with respect thereto. Landlord and Tenant each acknowledge that no representations,
inducements, promises or agreements, oral or written, have been made by Landlord or Tenant, or anyone acting on behalf of Landlord or Tenant, which are not contained herein, and any prior agreements, promises, negotiations, or representations not
expressly set forth in this Lease are of no effect. This Lease may not be altered, changed or amended except by an instrument in writing signed by both parties hereto. 

24.7 Survival of Tenant’s Indemnities and Obligations. Each indemnity agreement and hold harmless agreement contained
herein shall survive the expiration or termination of the Lease. Additionally, all obligations of Tenant hereunder not fully performed by the end of the Term shall survive, including, without limitation, all payment obligations with respect to Taxes
and insurance and all obligations concerning the condition and repair of the Premises. 
 24.8 Intentionally Omitted. 

24.9 Severability. If any provision of this Lease is illegal, invalid or unenforceable, then the remainder of this Lease shall
not be affected thereby. 
 24.10 Effective Date. All references in this Lease to “Effective Date” or
similar references shall be deemed to refer to the last date, in point of time, on which all parties hereto have executed this Lease. 

24.11 Brokerage Commissions. Landlord and Tenant each warrant to the other that they have no dealt with any broker or agent
other than the Brokers identified above and that they know of no broker or agent who are or might be entitled to a commission in connection with this Lease. TENANT AND LANDLORD SHALL EACH INDEMNIFY THE OTHER AGAINST ALL COSTS, ATTORNEYS’
FEES, AND OTHER LIABILITIES FOR COMMISSIONS OR OTHER COMPENSATION CLAIMED BY ANY BROKER OR AGENT CLAIMING THE SAME BY, THROUGH OR UNDER TENANT OR LANDLORD, RESPECTIVELY. 

  
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 24.12 Confidentiality. The business terms and conditions of this Lease are
confidential and Tenant shall not disclose the terms of this Lease to any other tenant or occupant (or prospective tenant or occupant) of the Building (or associated business park) or their real estate broker or agents. 

24.13 Interest. Tenant shall pay interest on all past-due Rent from the date due until paid at the maximum lawful rate. In no
event, however, shall the charges permitted under this Section 24.13 or elsewhere in this Lease, to the extent they are considered to be interest under applicable Law, exceed the maximum lawful rate of interest. 

24.14 Time. Time is of the essence in this Lease and in each and all of the provisions hereof. Whenever a period of days is
specified in this Lease, such period shall refer to calendar days unless otherwise expressly stated in this Lease. 
 24.15
Attorneys’ Fees. In the event of the filing of any legal action or proceeding brought by either party against the other arising out of this Lease, the prevailing party shall be entitled to recover reasonable attorneys’ fees and
costs incurred in such action (including, without limitation, all costs of appeal) and such amount shall be included in any judgment rendered in such proceeding. 

24.16 Choice of Law and Exclusive Venue. THIS LEASE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE
OF TEXAS, EXCEPT AS SUCH LAWS ARE PREEMPTED BY APPLICABLE FEDERAL LAW, WITHOUT REGARD TO ANY CONFLICT OF LAWS, RULE OR PRINCIPLE WHICH MIGHT REFER THE CONSTRUCTION OR ENFORCEMENT OF THIS LEASE TO THE LAWS OF ANOTHER JURISDICTION. JURISDICTION AND
VENUE FOR ANY ACTION HEREUNDER SHALL BE EXCLUSIVELY IN AUSTIN, TRAVIS COUNTY, TEXAS, EITHER IN TEXAS STATE DISTRICT COURT OR IN FEDERAL DISTRICT COURT, WESTERN DISTRICT OF TEXAS, AUSTIN DIVISION. 

24.17 Waiver of Right to Trial By Jury. TENANT AND LANDLORD EACH: (1) AGREE NOT TO ELECT A TRIAL BY JURY WITH RESPECT TO
ANY ISSUE ARISING OUT OF THIS LEASE OR THE RELATIONSHIP BETWEEN THE PARTIES AS TENANT AND LANDLORD THAT CAN BE TRIED BY A JURY; AND (2) WAIVE ANY RIGHT TO TRIAL BY JURY WITH RESPECT TO SUCH ISSUE TO THE EXTENT THAT ANY SUCH RIGHT EXISTS NOW OR
IN THE FUTURE. THIS WAIVER OF RIGHT TO TRIAL BY JURY IS SEPARATELY GIVEN BY EACH PARTY, KNOWINGLY AND VOLUNTARILY WITH THE BENEFIT OF COMPETENT LEGAL COUNSEL. 

24.18 Waiver of Right to File Tax Protest. WITH RESPECT TO THE BUILDING OR ANY PORTION THEREOF, TENANT HEREBY WAIVES ALL
RIGHTS UNDER SECTIONS 41.413 AND 42.015 OF THE TEXAS TAX CODE OR ANY SIMILAR OR CORRESPONDING LAW: (1) TO PROTEST A DETERMINATION OF APPRAISED VALUE OR TO APPEAL AN ORDER DETERMINING A PROTEST; AND (2) TO RECEIVE NOTICES OF
REAPPRAISALS. 
 24.19 OFAC Compliance. 

(a) Tenant represents and warrants that: (1) To the best of Tenant’s knowledge, after reasonable inquiry, Tenant and each person or
entity owning an interest in Tenant is: (i) not currently identified on the Specially Designated Nationals and Blocked Persons List maintained by the Office of Foreign Assets Control, Department of the Treasury (“OFAC”) and/or on any
other similar list maintained by OFAC pursuant to any authorizing statute, executive order or regulation (collectively, the “List”), and; (ii) is not a person or entity with whom a citizen of the United States is prohibited to engage
in transactions by any trade embargo, economic sanction, or other prohibition of United States law, regulation, or Executive Order of the President of the United States; (2) None of the funds or other assets of Tenant constitute property of, or
are beneficially owned, directly or indirectly, by any Embargoed Person (as hereinafter defined); (3) No Embargoed Person has any interest of any nature whatsoever in Tenant (whether directly or indirectly); (4) None of the funds of Tenant
have been derived from any unlawful activity with the result that the investment in Tenant is prohibited by law or that the Lease is in violation of law, and; (5) Tenant has implemented procedures, and will consistently apply those procedures
to ensure the foregoing representations and warranties remain true and correct at all times. 
 (b) Tenant covenants and agrees: (1) To
comply with all requirements of law relating to money laundering, anti-terrorism, trade embargos and economic sanctions, now or hereafter in effect; (2) To immediately notify Landlord in writing if any of the representations, warranties or
covenants set forth in this paragraph or the preceding paragraph are no longer be true or have been breached or if Tenant has a reasonable basis to believe that they may no longer be true or have been breached; (3) To not knowingly use funds
from any “Prohibited Person” (as such term is 

  
 24 

 
defined in the September 24, 2001 Executive Order blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or Support Terrorism) to make an payment due to
Landlord under the Lease, and (4) At the request of Landlord, to provide such information as may be requested by Landlord to determine Tenant’s compliance with the terms hereof. 

(c) Tenant hereby acknowledges and agrees that Tenant’s inclusion on the List at any time during the Lease Term shall be a material
default of the Lease. Notwithstanding anything herein to the contrary, Tenant shall not permit the Premises or any portion thereof to be used or occupied by any person or entity on the List or by any Embargoed Person (on a permanent, temporary or
transient basis), and any such use or occupancy of the Premises by any such person or entity shall be a material default of the Lease. 
 (d)
Tenant shall also require and shall take reasonable measures to ensure compliance with the requirement that no person who owns any other direct interest in the Tenant is or shall be listed on any of the Lists or is an Embargoed Person. The term
Embargoed Person means any person, entity or government subject to trade restrictions under U.S. law, including but not limited to, the International Emergency Economic Powers Act, 50 U.S.C. §1701 et seq., The Trading with the Enemy Act, 50
U.S.C. App. 1 et seq.. and any Executive Orders or regulations promulgated thereunder with the result that the investment in Tenant is prohibited by law or Tenant is in violation of law (“Embargoed Person”). This Subsection (d) shall
not apply to any person to the extent that such person’s interest in the Tenant is through a U.S. Publicly-Traded Entity. As used in this Agreement, U.S. Publicly-Traded Entity means a Person, other than an individual, whose securities are
listed on a national securities exchange, or quoted on an automated quotation system, in the United States, or a wholly-owned subsidiary of such a person (“U.S. Publicly-Traded Entity”). 

24.20 National Electric Code. At all times during the term of this Lease, Tenant shall ensure that all wiring and cabling that
it installs within the Premises or Building complies with all provisions of local fire and safety codes, as well as with the National Electric Code. Further, upon the expiration or sooner termination of the Term, Tenant shall remove all wiring and
cabling within the Premises and the Building (including the plenums, risers and rooftop) placed there by or at the direction of Tenant, unless excused in writing by Landlord. Without limitation to the remedies available to Landlord in the event that
Tenant fails to comply with the terms and conditions of this subsection, Tenant shall forfeit such sums from the Security Deposit (or otherwise pay to Landlord) an amount that Landlord reasonably believes necessary for the removal and disposal of
any such wires and cabling. 
 25. NOTICES. Each provision of this instrument or of any applicable Laws and other requirements with reference
to the sending, mailing or delivering of notice or the making of any payment hereunder shall be deemed to be complied with, when and if, the following steps are taken: 

25.1 Rent Payments to Landlord. All Rent shall be payable to Landlord at the address for Landlord set forth above or at such
other address as Landlord may specify from time to time by written notice delivered in accordance herewith. Tenant’s obligation to pay Rent shall not be deemed satisfied until such Rent has been actually received by Landlord. 

25.2 Payments to Tenant. All payments required to be made by Landlord to Tenant hereunder shall be payable to Tenant at the
address set forth above, or at such other address within the continental United States as Tenant may specify from time to time by written notice delivered in accordance herewith. 

25.3 Written Notices. Any written notice or document required or permitted to delivered hereunder shall be deemed to be
delivered upon the earlier to occur of (1) tender of delivery (in the case of hand-delivered notice), (2) deposit in the United States Mail, postage prepaid, Certified Mail, or (3) receipt by facsimile transmission followed by a
confirmatory letter, in each case, addressed to the parties hereto at the respective addresses set out above, or at such other address as they have theretofore specified by written notice delivered in accordance herewith. If Landlord has attempted
to deliver notice to Tenant at Tenant’s address reflected on Landlord’s books but such notice was returned or acceptance thereof was refused, then Landlord may post such notice in or on the Premises, which notice shall be deemed delivered
to Tenant upon the posting thereof. 
 25.4 Multiplicity. If and when included within the term “Tenant,” as used in
this instrument, there is more than one person, firm or corporation, all shall jointly arrange among themselves for their joint execution of a notice specifying an individual at a specific address within the continental United States for the receipt
of notices and payments to Tenant. All parties included within the terms “Landlord” and “Tenant,” respectively, shall be bound by notices given in accordance with the provisions of Section 25 to the same effect as if each
had received such notice. 

  
 25 

 26. HAZARDOUS WASTE. 

26.1 Definitions. For purposes of this Lease, “Hazardous or Toxic Materials” shall mean all materials,
substances, wastes and chemicals classified, defined, listed or regulated as, or containing, a “hazardous substance” “hazardous waste,” “toxic substance,” “pollutant,” “contaminant,” “oil,”
“hazardous material,” “solid waste,” and/or “regulated substance” under any Environmental Law, but excluding office cleaning and supplies described in Section 26.3. As used herein, the term
“Environmental Laws” shall mean any and all statutes, rules, regulations, ordinances, orders, permits, licenses, and other applicable legal requirements, relating directly or indirectly to human health or safety or the
environment, or the presence, handling, treatment, storage, disposal, recycling, reporting, remediation, investigation, or monitoring of hazardous or toxic materials. Notwithstanding the foregoing this clause acknowledges that numerous building
materials and standard office products and supplies contain materials, which may or may not be inherent in their makeup, which are or contain hazardous substances. Therefore, the lease will be interpreted fairly and reasonably by all Parties in a
manner consistent with sound judgment and reasonableness and in accordance with standard and reasonable consulting engineering office practices. 

26.2 Prohibited Uses. Tenant shall not incorporate into, use, release, conduct any activity that will produce, or otherwise
place or dispose of at, in, under or near the Premises, the Building or the Land any Hazardous or Toxic Materials. Tenant shall not (1) occupy or use the Premises, nor permit any portion of the Premises to be occupied or used (i) except in
compliance with all Laws, ordinances, governmental or municipal regulations, and orders, including without limitation Environmental Laws, or (ii) in a manner which may be dangerous to life, limb or property, (2) cause or permit anything to
be done which would in any way increase the rate of fire, liability, or any other insurance coverage on the Premises, the Building, or its contents; (3) use the Premises or any portion as a landfill or dump; (4) install any underground
tanks of any kind; (5) permit any Hazardous or Toxic Materials to be brought onto the Premises except as permitted by Section 26.3 below; or (6) allow any surface of subsurface conditions to exist or come into existence that
constitute or may, with the passage of time constitute a public or private nuisance. 
 26.3 Permissive Uses. Tenant may use
and temporarily store cleaning and office supplies used in the ordinary course of Tenant’s business and then only if (1) such materials are in small quantities, properly labeled and contained, (2) notice of and a copy of the current
material safety data sheet is first delivered to, and written consent is obtained from, Landlord for each such Hazardous or Toxic Material and (3) such materials are used and, as applicable, transported, stored, handled and disposed of off-site
at properly authorized facilities in accordance with the highest accepted industry standards for safety, storage, use and disposal and in accordance with all applicable governmental laws, rules and regulations, including without limitations, all
Environmental Laws. 
 26.4 Landlord’s Rights. Landlord shall have the right to periodically inspect, take samples for
testing and otherwise investigate the Premises for the presence of Hazardous or Toxic Materials. Any inspection or testing by Landlord shall be done at Landlord’s cost and no more than once during any calendar year unless Landlord has a
legitimate and good faith basis to require more frequent inspection or testing. 
 26.5 Remediation. 

26.5.1 Tenant’s Obligations. If Tenant ever has knowledge of the presence in the Premises or the Building or the Land of
Hazardous or Toxic Materials which affect the Premises, Tenant shall notify Landlord thereof in writing promptly after obtaining such knowledge. If at any time during or after the Term, the Premises, Land or Building are found to have Hazardous or
Toxic Materials in, on or under them, except for such conditions that were present prior to the Effective Date of the Lease and conditions which were not caused by any act or omission of any Tenant Party, then Tenant shall promptly, diligently, and
expeditiously investigate, clean up, remove and dispose of the material causing the violation, in compliance with all applicable governmental standards, Laws, rules and regulations, including without limitation, applicable Environmental Laws and the
then prevalent industry practice and standards, and Tenant shall repair any damage to the Premises or the Building or the Land as soon as practicable. Tenant shall notify Landlord in advance of its method, time and procedure for any investigation,
remediation or monitoring of Hazardous or Toxic Materials, and Landlord shall have the right to require reasonable changes in such method, time or procedure as Landlord considers appropriate to prevent interference with any use, occupancy, care,
appearance or maintenance of the Land or the Building or the Premises or the rights of other tenants or to require the same to be done after normal business hours. Under no circumstances shall any remediation by Tenant leave any Hazardous or Toxic
Materials at, in, or under the Premises, the Land, or the Building without first obtaining the prior written consent of Landlord. 

  
 26 

 26.5.2 Landlord’s Rights. Notwithstanding the foregoing, Landlord shall have
the right, but not the obligation, to perform the work described in Section 26.5.1 and all actual, reasonable and documented costs and expenses associated therewith shall be due and payable by Tenant upon demand. 

26.6 Tenant’s Representation. Tenant represents to Landlord that, except as has been disclosed to Landlord in writing,
Tenant nor any of its owners, partners, managers, members, shareholders, or venturers have never been cited for or convicted of any violations under applicable Laws, rules or regulations, including without limitation, Environmental Laws. Tenant has
completed the Hazardous Materials Disclosure Certificate that is attached hereto as Exhibit “F”. 
 26.7 TENANT’S
INDEMNITY. TENANT AGREES TO INDEMNIFY, DEFEND AND HOLD HARMLESS THE INDEMNIFIED PARTIES FROM AND AGAINST ALL OBLIGATIONS (INCLUDING REMOVAL AND REMEDIAL ACTIONS), LOSSES, CLAIMS, SUITS, JUDGMENTS, LIABILITIES (INCLUDING WITHOUT LIMITATION
STRICT LIABILITIES), PENALTIES, DAMAGES COSTS AND EXPENSES (INCLUDING REASONABLE ATTORNEYS’ AND CONSULTANTS’ FEES AND EXPENSES) OF ANY KIND OR NATURE WHATSOEVER THAT MAY AT ANY TIME BE INCURRED BY, IMPOSED ON OR ASSERTED AGAINST THE
INDEMNIFIED PARTIES DIRECTLY OR INDIRECTLY BASED ON OR ARISING OUT OF OR RESULTING FROM (1) THE ACTUAL OR ALLEGED PRESENCE OR RELEASE OF HAZARDOUS OR TOXIC MATERIALS ON, AT, IN, UNDER FROM OR NEAR THE PREMISES, THE BUILDING, OR THE LAND WHICH
IS CAUSED OR PERMITTED BY A TENANT PARTY OR AT THE DIRECTION OR PERMISSION OF A TENANT PARTY AND/OR (2) OPERATION OR USE OF THE PREMISES BY ANY TENANT PARTY AND/OR (3) NON-COMPLIANCE WITH ENVIRONMENTAL LAWS, OR THE CONDUCT OF OBLIGATIONS
HEREUNDER, ANY TENANT PARTY OR AT THE DIRECTION OR PERMISSION OF A TENANT PARTY, (4) THE DIMUNITION OF PROPERTY VALUE AND THE RESULTING EFFECTS UPON LANDLORD’S TITLE TO THE PREMISES, THE BUILDING AND THE LAND CAUSED BY, OR ALLEGED TO BE
CAUSED BY THE ACTUAL OR ALLEGED PRESENCE OR RELEASE OF HAZARDOUS OR TOXIC MATERIALS ON, AT, IN, UNDER, FROM OR NEAR THE PREMISES, THE BUILDING, OR THE LAND WHICH IS CAUSED OR PERMITTED BY A TENANT PARTY OR AT THE DIRECTION OR PERMISSION OF A TENANT
PARTY. 
 26.8 Survival. The provisions of this Section 26 shall survive the Expiration Date or earlier
termination of this Lease. 
 27. [INTENTIONALLY OMITTED] 

28. TENANT’S ACKNOWLEDGEMENTS. TENANT ACKNOWLEDGES THAT (1) IT HAS INSPECTED AND ACCEPTS THE PREMISES IN AN “AS-IS, WHERE
IS” WITH ALL FAULTS CONDITION (EXCEPT WITH RESPECT TO LATENT DEFECTS AS PROVIDED IN THIS LEASE), (2) THE BUILDINGS AND IMPROVEMENTS COMPRISING THE SAME ARE SUITABLE FOR THE PURPOSE FOR WHICH THE PREMISES ARE LEASED AND LANDLORD HAS MADE NO
WARRANTY, REPRESENTATION, COVENANT, OR AGREEMENT WITH RESPECT TO THE MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF THE PREMISES, (3) THE PREMISES ARE IN GOOD AND SATISFACTORY CONDITION, (4) NO REPRESENTATIONS AS TO THE REPAIR OF
THE PREMISES, NOR PROMISES (EXPRESS OR IMPLIED) TO ALTER, REMODEL OR IMPROVE THE BUILDING OR PREMISES OR ANY OTHER PART OF THE LAND HAVE BEEN MADE BY LANDLORD (UNLESS AND EXCEPT AS MAY BE SET FORTH IN EXHIBIT B ATTACHED TO THIS LEASE, IF ONE
SHALL BE ATTACHED, OR AS IS OTHERWISE EXPRESSLY SET FORTH IN THIS LEASE), (5) THERE ARE NO REPRESENTATIONS OR WARRANTIES, EXPRESSED, IMPLIED OR STATUTORY, THAT EXTEND BEYOND THE DESCRIPTION OF THE PREMISES, AND (6) NO RIGHTS, EASEMENTS OR
LICENSES ARE ACQUIRED BY TENANT BY IMPLICATION OR OTHERWISE, EXCEPT AS EXPRESSLY SET FORTH IN THIS LEASE. 
 29. WAIVER. TENANT
WAIVES ITS RIGHTS UNDER THE DECEPTIVE TRADE PRACTICES – CONSUMER PROTECTION ACT, SECTION 17.41, ET. SEQ., BUSINESS CODE, A LAW THAT GIVES CONSUMERS SPECIAL RIGHTS AND PROTECTIONS, AFTER CONSULTATION WITH AN ATTORNEY OF TENANT’S OWN
SELECTION, TENANT VOLUNTARILY CONSENTS TO THIS WAIVER. 
 [Remainder of Page intentionally Left Blank] 

  
 27 

 EXECUTION PAGE 

TENANT: 
 EVERSPIN TECHNOLOGIES, INC. 

a Delaware corporation 
  

			
	Signature:	 	 /s/ Bob Schuch

	Printed Name:	 	Bob Schuch
	Title:	 	Director of Finance
	Date:	 	5/21/2012

 Signature: 
 Printed
Name: 
 Title: 
 Date: 

LANDLORD: 
 PRINCIPAL LIFE INSURANCE COMPANY, an Iowa
corporation, for its Principal U.S. Property Separate Account, formerly known as Principal Life Insurance Company, an Iowa corporation, for its Real Estate Separate Account 

 

	By:	PRINCIPAL REAL ESTATE INVESTORS, LLC. a Delaware limited liability company, its authorized signatory 

  

			
	Signature:	 	 /s/ Tom Mathisen

	Printed Name:	 	Tom Mathisen
	Title:	 	Sr. Asset Manager
	Date:	 	Jun 29 2012
		
	Signature:	 	  

	Printed Name:	 	  

	Title:	 	  

	Date:	 	  

  
 28 

 RIDER TO LEASE 

Additional Provisions 
 1. This
Rider Controls. The provisions set forth in this Rider control to the extent they conflict with any provision or provisions set forth in the body of this Lease Agreement. 

2. Extension Option. Tenant shall have the right and option to extend this Lease for one (1) consecutive period of four (4) years under
the same terms and conditions as stated in the Lease (“Extension Option”), with the exceptions that (a) no further extension options shall exist and (b) monthly rental for such extension term shall be based on the then prevailing
market rental rate as determined by Landlord in good faith based on then recent lease extensions within the Building and in surrounding buildings of comparable quality, condition and age for space approximately the same size and location within
comparable buildings in the Austin marketplace and taking into consideration any allowances and concessions offered with such rental, Tenant’s use and financial strength and other relevant factors (“Market Rental Rate”). Tenant may
reject the Extension Option granted herein within ten (10) days following delivery to Tenant of Landlord’s determination of the Market Rental Rate (“Rate Notice”). The Extension Option shall be exercisable by Tenant, if at all,
only by timely delivery to Landlord of written notice of election at least six (6) months prior to the expiration of the then current Lease Term, but no earlier than nine (9) months prior to the expiration of the then current Lease Term.
The option herein granted shall be deemed to be personal to Tenant, and if Tenant subleases any portion of the Premises or otherwise assigns or transfers any interest thereof to another party (other than a Permitted Transfer), such option shall
lapse. In the event that Tenant is then in default of any term or condition at the time of its exercise notice beyond any applicable notice, cure or grace period, then there shall be no extension of this Lease as provided herein. 

If Tenant desires to continue with the extension, but objects to the Market Rental Rate determined by Landlord, then Tenant must object to the
same within said ten (10) business day period. No later than five (5) business days thereafter, Landlord and Tenant shall meet in an effort to negotiate, in good faith, the Market Rental Rate applicable to the Premises. If Landlord and
Tenant have not agreed upon the Market Rental Rate applicable to the Premises within five (5) business days after meeting, then Landlord and Tenant shall each appoint a broker not later than forty-five (45) days following Landlord’s
delivery of the Rate Notice. If Landlord’s broker and Tenant’s broker have failed to agree upon the Market Rental Rate within sixty (60) days following delivery of the Rate Notice, the two appointed brokers shall appoint a third
broker (within five (5) business days following the expiration of said sixty (60) day period), and the Market Rental Rate shall be the arithmetic average of two (2) of the three (3) determinations which are the closest in amount,
and the third determination shall be disregarded. If either Landlord or Tenant fails to appoint a broker within the prescribed time period, the failing party shall pay to the other party as liquidated damages $100.00 per day for each day following
the deadline that such party fails to appoint a broker, not to exceed a total of $500.00. If the two (2) appointed brokers fail to agree upon a third (3rd) broker, then the parties shall have the local office of the American Arbitration
Association appoint the third (3rd) broker and the parties shall share equally in the cost of such arbitration. Each party shall bear the costs of its own broker, and the parties shall share equally the cost of the third broker, if applicable.
Each broker shall have at least ten (10) years’ experience in the leasing of similar commercial buildings in the submarket in which the Building is located and shall be a licensed real estate broker. 

 

	3.	One-Time Right of Refusal. 

 (a) Grant of Right of Refusal. Subject to the
provisions as hereinafter set forth, Landlord hereby grants to Tenant a one-time right of refusal (“Right of Refusal”) to lease from Landlord space located adjacent to Tenant on the first
(1st) floor of the Building (“Refusal Space”). 
 (b) Third Party
Offer; Exercise Notice. During the Lease Term, if Landlord desires to accept an offer from a third party (“Third Party Offer”) to lease the Refusal Space or a portion thereof, Landlord shall first give to Tenant notice that Landlord
has received such Third Party Offer and describing the terms and conditions of such Third Party Offer (“Third Party Offer Notice”). Tenant may exercise the Right of Refusal by giving Landlord written notice (“Exercise Notice”)
within five (5) business days after delivery to Tenant of the Third Party Offer Notice of Tenant’s desire to lease that portion of the Refusal Space set forth in the Third Party Offer. Hereinafter the term “Refusal Space” shall
be and shall mean the Refusal Space or portion thereof set forth in the Third Party Offer. 

  
 29 

 (c) Expansion Amendment. After receipt of the Exercise Notice, Landlord and Tenant shall
enter into an amendment of the Lease (“Expansion Amendment”) acceptable to Landlord and Tenant. Such Expansion Amendment shall provide that from and after the applicable date on which the Refusal Space is leased by Tenant (“Expansion
Commencement Date”), the Lease shall be deemed modified as follows. 
 (i) Base Rent for the Refusal Space shall be as set forth in the
Third Party Offer; 
 (ii) Tenant’s Proportionate Share applicable to the Refusal Space shall be a fraction, the numerator of which
shall be the number of rentable square feet in the Refusal Space and the denominator of which shall be the number of rentable square feet in the Building (as both shall be reasonably determined by Landlord); 

(iii) Tenant’s lease of the Refusal Space shall be for the term set forth in the Third Party Offer; 

(iv) Other applicable terms and conditions of the Third Party Offer shall modify the Lease with respect to Tenant’s lease of the Refusal
Space; and 
 (v) For all purposes under the Lease, other than for the applicable provisions set forth above, the term “Premises”
shall be deemed to include the Refusal Space. 
 Notwithstanding anything contained in this subsection (c) to the contrary, in the event a Third Party
Offer is received by Landlord during the first year of the Term and Tenant elects to lease the Refusal Space set forth in the Third Party Offer, then Tenant shall lease the Refusal Spare under all of the same terms and conditions as specified in
this Lease. 
 (d) Subordination. Tenant’s Right of Refusal shall be subordinate to any and all existing rights or interests
conferred to other tenants for all or any portion of the Refusal Space, as contained in any lease, or otherwise, in effect on the Effective Date of this Lease, including, without limitation, (i) options or rights regarding renewal, extension or
expansion and/or (ii) subleases. 
 (e) Failure to Exercise. It Tenant does not exercise its Right of Refusal in the time and
manner set forth herein, the Right of Refusal shall be deemed terminated and of no further force or effect. 
 (f) No Default. Tenant
may exercise the Right of Refusal, and an exercise thereof shall only be effective, provided that Tenant is not then in default of any term or condition of this Lease beyond any applicable notice, cure or grace period. 

(g) Not Transferable. Tenant acknowledges and agrees that the Right of Refusal shall be deemed personal to Tenant and if Tenant
subleases, assigns, or otherwise transfers any interests hereunder to any person or entity prior to the exercise of the Right of Refusal, the Right of Refusal shall lapse and be forever waived. 

4. Signs. Landlord will permit Tenant to place its signage on the Building outside of the Premises, and Landlord will install Tenant’s signage on
the applicable monument sign (on a basis of joint identification with other tenants and occupants). Landlord shall pay for costs attributable to the installation of Tenant’s signage on the monument sign; however, all costs associated with the
fabrication, installation, maintenance, removal and replacement of Tenant’s signage (in front of the premises, on the monument, or other signage) shall be the sole responsibility of Tenant. Tenant shall maintain such signage in good condition
and repair. Tenant shall remove such signage and repair any damage caused thereby, at its sole cost and expense, upon the expiration or sooner termination of the Lease. The color, content, size and other specifications of any such signage shall be
in accordance with the terms and conditions of the Lease, and shall be subject to Landlord’s prior approval, which approval shall not be unreasonably withheld, conditioned or delayed. Further, Tenant shall ensure that all signage complies with
any and all applicable             and building regulations, as well as any and all sign criteria for Stonelake. 

  
 30 

 EXHIBIT A 
  

			
	Building:	  	Stonelake 1
		
	Address:	  	4030 W. Braker Lane, Austin, Texas 78759

  
 31 

 EXHIBIT A-1 

Premises 
  

 

  
 32 

 Site Plan 
  

 

  
 33 

 EXHIBIT B 

Work Letter 
 The terms
used herein shall have the meanings ascribed to them in the Lease, unless otherwise specifically stated herein. 
 1. Defined Terms. 

1.01 Allowance. Landlord shall provide Tenant with an “Allowance” (herein so called) in the amount of Seventeen Thousand Five
Hundred Seven and No/100ths Dollars ($17,507.00). Landlord’s standard construction management fee of four percent (4%) of all hard and soft costs shall be deducted from the Allowance. Tenant shall have the right to use any remaining
Allowance (after the completion of Landlord’s Work), but none of the Additional Allowance, as defined below, for the purposes of signage, data cabling or moving costs or to offset Base Rent, as determined in the Tenant’s sole discretion;
provided, however, no more than fifty percent (50%) of the Allowance may be used to offset Base Rent and all amounts must be offset within six (6) months following the Commencement Date (any amounts in excess of such 50% cap or not so
offset shall be forfeited). To the extent that the Allowance is inadequate to cover the cost of Landlord’s Work as set forth in this Work Letter, (and none is being used for a rent credit), Tenant shall have the right to receive from Landlord
up to an additional $15,006.00 (i.e., $3.00 per rentable square foot of space within the Premises) (“Additional Allowance”), to be used for the initial tenant finish, design, moving, cabling, telephone/data communications and/or furniture,
which Additional Allowance (or so much thereof as is used) shall be amortized over the initial fifty-one months of the Lease with interest thereon at the annual rate of nine percent (9%) and added to the Base Rent. In the event of a monetary
default beyond any applicable notice, cure or grace period, the outstanding balance of the Additional Allowance shall become fully liquidated and immediately due and payable. 

1.02 Space Plans. Attached hereto as Exhibit B-1. 

2. Construction of the Premises. Landlord and Tenant agree that their respective rights and obligations in reference to the construction of the Premises
shall be as follows: 
 2.01 Preparation of Construction Documents. 

(a) Landlord shall cause to be prepared detailed architectural, mechanical and engineering plans, including all dimensions and specifications
for all work to be performed by Landlord in the Premises, substantially in accordance with the Space Plan (“Plans”). 
 (b) Tenant
shall cooperate as reasonably necessary in connection with the preparation of the Plans, in a complete and timely manner, and without limiting the foregoing, shall provide to Landlord all information as shall be required by Landlord’s engineers
to prepare mechanical plans pursuant to Section 2.01 hereof, which information shall include, but not be limited to, the following: 
  

	 	(1)	any special floor-loading conditions which may exceed the structural weight limits of the floor; 

  

	 	(2)	specifications of any heat emanating equipment to be installed by Tenant which may require special air conditioning: 

  

	 	(3)	electrical specifications of any equipment that requires non-standard electrical power outlets; and 

  

	 	(4)	complete specifications of any data-line wiring required, including cable routing, conduit, size, cable type and similar items. 

  
 34 

 (c) The Plans shall be delivered to Tenant for its review and consideration as soon as reasonably
possible. Tenant shall inform Landlord of any required changes as soon as possible, but in no event later than five (5) business days following Tenant’s receipt the Plans. Any change or modification of such Plans shall not be valid or
binding unless consented to by Landlord in writing (such consent shall not be unreasonably withheld, conditioned or delayed). 
 2.02
Landlord’s Work. Landlord shall furnish and install substantially in accordance with the Plans the materials and items described therein, including the Initial Improvements (“Landlord’s Work”). Landlord shall bid
Landlord’s Work to a minimum of three (3) Landlord approved contractors. The Plans and Landlord’s Work shall be at Tenant’s sole cost and expense, provided that Tenant shall be entitled to a credit against the cost of the Plans
and Landlord’s Work in an amount equal to the Allowance and the Additional Allowance, if any. Unless otherwise specifically stated herein or in the Plans, all materials shall be of Building standard quality and color. 

2.03 Cost Estimate. If Landlord determines that the cost of Landlord’s Work will exceed the Allowance and the Additional Allowance,
if any, then prior to commencement of Landlord’s Work, Landlord will submit to Tenant a cost estimate for Landlord’s Work (“Cost Estimate”) which Tenant shall approve or reject within five (5) days after receipt thereof.
Tenant’s failure to reject the Cost Estimate within said five (5) day period shall be deemed to be an acceptance thereof. If Tenant rejects the Cost Estimate, Tenant shall, together with such rejection, propose such changes to the Plans as
will cause the Cost Estimate to be acceptable. If the accepted Cost Estimate exceeds the Allowance and the Additional Allowance, if any, then Tenant shall pay to Landlord the amount of such excess within ten (10) business days after receipt by
Tenant of a bill therefor, but in no event later than the Commencement Date. 
 2.04 Extra Work: Omissions. 

(a) Tenant may request substitutions, additional or extra work and/or materials over and above Landlord’s Work (“Extra
Work’’) to he performed by Landlord, provided that the Extra Work, in Landlord’s judgment, (1) shall not delay completion of Landlord’s Work or the Commencement Date of the Lease; (2) shall be practicable and consistent
with existing physical conditions in the Building and any other plans for the Building which have been filed with the appropriate municipality or other governmental authorities having jurisdiction thereover; (3) shall not impair Landlord’s
ability to perform any of Landlord’s obligations hereunder or under the Lease or any other lease of space in the Building; and (4) shall not affect any portion of the Building other than the Premises. All Extra Work shall require the
installation of new materials at least comparable to Building standards and any substitution shall be of equal or greater quality than that for which it is substituted. 

(b) In the event Tenant requests Landlord to perform Extra Work and if Landlord accedes to such request, then and in that event, prior to
commencing such Extra Work, Landlord shall submit to Tenant a written estimate (“Estimate”) for said Extra Work to be performed. Within five (5) days after Landlord’s submission of the Estimate, Tenant shall, in writing, either
accept or reject the Estimate. Tenant’s failure either to accept or reject the Estimate within said five (5) day period shall be deemed rejection thereof. In the event that Tenant rejects the Estimate or the Estimate is deemed rejected,
Tenant shall within five (5) days after such rejection propose to Landlord such necessary revisions of the Plans so as to enable Landlord to proceed as though no such Extra Work had been requested. Should Tenant fail to submit such proposals
regarding necessary revisions of the Plans within said five (5) day period, Landlord, in its sole discretion may proceed to complete Landlord’s Work in accordance with the Plans already submitted, with such variations as in Landlord’s
sole discretion may be necessary so as to eliminate the Extra Work. 
 (c) Tenant may request the omission of an item of Landlord’s
Work, provided that such omission shall not delay the completion of Landlord’s Work and Landlord thereafter shall not be obligated to install the same. Credits for items deleted or not installed shall be granted in amounts equal to credits
obtainable from subcontractors or materialmen. In no event shall there be any cash credits. 
 (d) In the event Landlord performs Extra Work
hereunder, Tenant shall pay to Landlord, upon acceptance of the Estimate a sum equal to the Estimate to the Extent the Estimate together with the amount set forth in the Cost Estimate exceeds the Allowance and the Additional Allowance, if any. 

  
 35 

 3. Punch List. When Landlord is of the opinion that Landlord’s Work is complete, then Landlord shall
so notify Tenant. Tenant agrees that upon such notification, Tenant promptly (and not later than two (2) business days after the date of Landlord’s said notice) will inspect the Premises and furnish to Landlord a written statement that
Landlord’s Work has been completed and are complete as required by the provisions of this Exhibit and the Lease with the exception of certain specified and enumerated items (hereinafter referred to as the “Punch List”). Tenant agrees
that at the request of Landlord from time to time thereafter, Tenant will promptly furnish to Landlord revised Punch Lists reflecting any completion of any prior Punch List items. 

4. Substantial Completion Data. It is mutually agreed that if the Punch List or any revised Punch List consists only of items which would not materially
impair Tenant’s use or occupancy of the Premises, then, in such event, Tenant will acknowledge in writing that Landlord’s Work is complete and accept possession of the Premises (“Substantial Completion Date” or “Date of
Substantial Completion”); provided, however, that such acknowledgment of acceptance shall not relieve Landlord of its obligations to promptly complete all such Punch List items. Notwithstanding the foregoing, in no event shall Landlord be
obligated to repair latent defects, not originally listed on the Punch List, beyond a period of six (6) months after the Substantial Completion Date. Promptly after the Substantial Completion Date, the parties will execute an instrument in the
form attached hereto as Exhibit C, confirming the Substantial Completion Date, the Commencement Date and the Expiration Date. 
 The
Commencement Date shall not be delayed due to any delay in the Substantial Completion Date. If Landlord’s Work is not substantially complete due to any special equipment, fixtures or materials, changes, alterations or additions requested by
tenant or the delay or failure of Tenant in supplying information or approving or authorizing any applicable plans, specifications, estimates or other matters, or any other act or omission of Tenant, then there shall be a Tenant Delay. In the event
the Substantial Completion Date is delayed due to one or more Tenant Delays (after accounting for any delays resulting from Landlord or Force Majeure), then the Substantial Completion Date shall be modified to be the earlier of the Substantial
Completion Date or the date Landlord’s Work would have been complete but for any Tenant Delays. 
 5. Tenant’s Entry Prior to Commencement
Date. Landlord shall permit Tenant or its agents or laborers to enter the Premises at Tenant’s sole risk a minimum of two (2) weeks prior to the Commencement Date in order to perform through Tenant’s own contactors such work as
Tenant may desire, at the same time that Landlord’s contractors are working in the Premises. The foregoing license to enter prior to the Commencement Date, however, is conditioned upon Tenant’s labor not interfering with Landlord’s
contractors or with any other tenant or its labor. If at any time such entry shall cause disharmony, interference or union disputes of any nature whatsoever, or if Landlord shall, in Landlord’s reasonable judgment, determine that such entry,
such work or the continuance thereof shall interfere with, hamper or prevent Landlord from proceeding with the completion of the Building or Landlord’s Work at the earliest possible date, this license may be withdrawn by Landlord immediately
upon written notice to Tenant. Such entry shall be deemed to be under and subject to all of the terms, covenants and conditions of the Lease, and Tenant shall comply with all of the provisions of the Lease which are the obligations or covenants of
Tenant, including, but not limited to, insurance requirements and indemnification obligations, except that the obligation to pay Rent shall not commence until the Commencement Date. In the event that Tenant’s agents or laborers incur any
charges from Landlord, including, but not limited to, charges for use of construction or hoisting equipment on the Building site, such charges shall be deemed an obligation of Tenant and shall be collectible as Rent pursuant to the Lease, and upon
default in payment thereof, Landlord shall have the same remedies as for a default in payment of Rent pursuant to the Lease. 
 6. Landlord’s Entry
after Substantial Completion. At any time after the Commencement Date (or the date on which Landlord has turned over possession of any portion of the Premises to Tenant), but upon prior reasonable notice given to Tenant, Landlord may enter the
Premises to complete Punch List items, and such entry by Landlord, its agents, servants, employees or contractors for such purpose shall not constitute an actual or constructive eviction, in whole or in part, or entitle Tenant to any abatement or
diminution of Rent, or relieve Tenant from any obligation under this Lease, or impose any liability upon Landlord or its agents. Tenant hereby accepts any and all reasonable disturbances associated with such entry and agrees to fully cooperate with
Landlord (and such cooperation shall include, without limitation, moving furniture as necessary). Landlord, however, shall use commercially reasonable efforts not to unreasonably disturb the operation of Tenant’s business from the Premises
during any such entry under this Section. 
 7. Time is of the Essence. Landlord and Tenant mutually acknowledge that Landlord’s construction
process in order to complete the Premises requires a coordination of activities and a compliance by Landlord and Tenant without delay of all obligations imposed upon Landlord and Tenant pursuant to this exhibit and that time is of the essence in the
performance of Landlord’s and Tenant’s obligations hereunder and Landlord’s and Tenant’s compliance with the terms and provisions or this exhibit. 

  
 36 

 8. Provisions Subject to Lease. The provisions of this exhibit are specifically subject to the provisions
of the Lease. 
 [Remainder of Page Intentionally Left Blank] 

  
 37 

 EXHIBIT B-1 

(Plans) 
  
 

 

  
 38 

 

 

  
 39 

 EXHIBIT C 

CONFIRMATION OF LEASE TERMS AND DATES 
  

	Re:	Commercial Industrial Lease (the “Lease”) dated May 18, 2012, between PRINCIPAL LIFE INSURANCE COMPANY, AN IOWA CORPORATION, LANDLORD, AND EVERSPIN TECHNOLOGIES, INC., A DELAWARE CORPORATION,
TENANT, for the premises located at 4030 West Braker Lane, Suite 100, in Austin, Travis County, Texas, 78759 (“Premises”) 

 The
undersigned, as Tenant, hereby confirms as of this             day of             , 20    , the following:

  

	1.	The Substantial Completion Date is             . 

  

	2.	The Commencement Date is             . 

  

	3.	The Expiration Date is             . 

  

	4.	The schedule of Base Rent is: 

  

													
	 Months
	 	 	 	 	  	Base Rent
PSF/Mo.	 	  	Monthly Rent	 
	  
	 	 -
	 	  
	  	$	0.85	  	  	$	0.00	* 
	  
	 	 -
	 	  
	  	$	0.85	  	  	$	4,251.70	  
	  
	 	 -
	 	  
	  	$	0.90	  	  	$	4,501.80	  
	  
	 	 -
	 	  
	  	$	0.95	  	  	$	4,751.90	  
	  
	 	 -
	 	  
	  	$	1.00	  	  	$	5,002.00	  

  

	*	See Basic Lease Terms of the Lease. 

 5. All alterations and Improvements required to be
performed by Landlord pursuant to the terms of the Lease to prepare the entire Premises for Tenant’s initial occupancy have been satisfactorily completed. As of the date hereof, Landlord has fulfilled all of its obligations under the Lease. The
Lease is in full force and effect and has not been modified, altered, or amended. Landlord is not in default and there are no offsets or credits against Rent or other amounts owed by Tenant to Landlord. 

 

			
	TENANT:	 	
	 EVERSPIN TECHNOLOGIES, INC.,
 a
Delaware corporation

		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 40 

 EXHIBIT D 

Building Rules and Regulations 

The following rules and regulations shall apply to the Premises, the Building, the Land and the appurtenances thereto. To the extent of any
conflicts between any such rules and regulations and the provisions of this Lease, the provisions of this Lease shall control. 
  

	1.	Sidewalks, doorways, vestibules, halls, stairways, and other similar areas shall not be obstructed by tenants or used by any tenant for purposes other than ingress and egress to and from their respective leased premises
and for going from one to another part of the Building. 

  

	2.	Plumbing, fixtures and appliances shall be used only for the purposes for which designed, and no sweeping, rubbish, rags or other unsuitable material shall be thrown or deposited therein. Damage resulting to any such
fixtures or appliances from misuse by a tenant or its agents, employees or invitees, shall be paid by such tenant, and Landlord will not in any case be responsible therefor. 

 

	3.	No signs, advertisements or notices shall be painted or affixed on or to any windows or doors or other part of the Building without the prior written consent of Landlord. No curtains or other window treatments shall be
placed between the glass and the Building standard window treatments. 

  

	4.	Movement in or out of the Building of furniture or office equipment, or dispatch or receipt by tenants of any bulky material, merchandise or materials which require use of stairways, or movement through the Building
entrances or lobby shall be conducted under Landlord’s supervision at such times and in such a manner as Landlord may reasonably require. Each tenant assumes all risks of and shall be liable for all damage to articles moved and injury to
persons or public engaged or not engaged in such movement, including equipment, property and personnel of Landlord if damaged or injured as a result of acts in connection with carrying out this service for such tenant from the time of entering the
property to completion of work and Landlord will not be liable for acts of any person engaged in, or any damage or loss to any of said property or persons resulting from, any act in connection with such service performed for a tenant.

  

	5.	Landlord may prescribe weight limitations and determine the locations for safes and other heavy equipment or items, which shall in all cases be placed in the Building so as to distribute weight in a manner acceptable to
Landlord which may include the use of such supporting devices as Landlord may require. All damages to the Building caused by the installation or removal of any property of a tenant, or done by a tenant’s property while in the Building, shall be
repaired at the expense of such tenant. 

  

	6.	Nothing shall be swept or thrown into the corridors, halls, or stairways. No birds, pets or animals shall be brought into or kept in, on or about any tenant’s Premises. No portion of any tenant’s Premises or
the Building shall at any time be used or occupied as sleeping or lodging quarters. 

  

	7.	Tenant shall be responsible for any janitorial expenses and for the contracting of any such janitorial work. 

  

	8.	Tenant shall not make or permit any improper, objectionable or unpleasant noises or odors in the Building or otherwise interfere in any way with other tenants or persons having business with them. Smoking of cigarettes,
cigars, and all tobacco products is prohibited on the Land and in the Building or Premises. 

  

	9.	No machinery of any kind (other than normal office equipment) shall be operated by any tenant in the Premises without Landlord’s prior written consent, nor shall any tenant use or keep in the Building any flammable
or explosive fluid or substance. 

  

	10.	Landlord will not be responsible for lost or stolen personal property, money or jewelry from tenant’s Premises or public or common areas or Parking Areas. 

  
 41 

	11.	All tenants will refer all contractors, contractor’s representatives and installation technicians to Landlord for Landlord’s supervision, approval and control before the performance of any contractual
services. This provision will apply to all work performed in the Building including but not limited to installations of telephones, telegraph equipment, electrical devices and attachments, doors, entrance ways, and any and all installations of every
nature affecting floors, walls, woodwork, trim, window, ceilings, equipment and any other physical portion of the Building. 

  

	12.	Should a tenant require telegraphic, telephonic, enunciator or other communication service, Landlord will direct the electrician where and how wires are to be introduced and placed and none will be introduced or placed
except as Landlord will direct. Electric current will not be used for power or heating without Landlord’s prior written permission. 

  

	13.	No vehicles(s) will be left in the Parking Areas for more than a forty-eight (48) hour period without the Landlord’s prior written consent. No outside storage is permitted. 

 

	14.	Tenant shall give immediate notice to Landlord in case of any known emergency at the Premises, Building, or Land. 

  

	15.	Tenant shall keep door to unattended areas locked and shall otherwise exercise reasonable precautions to protect its property from theft, loss or damage. Landlord shall not be responsible for the theft, loss or damage
of any property or for any error with regard to the exclusion from or admission to the Premises or the Building of any person. In case of invasion, mob, riot or public excitement, Landlord reserves the right to prevent access to the Premises or the
Building during the continuance of same by closing the doors or taking other measures for the safety of the tenants and protection of the Premises or the Building and property or persons therewith. 

 

	16.	All keys shall be returned to Landlord upon termination of this Lease and Tenant shall give to Landlord the explanations of the combinations of all safes, vaults and combination locks remaining with the Premises.
Landlord may at all times keep a pass key to the Premises. All entrance doors to the Premises shall be left closed at all times and left locked when the Premises are not in use. 

 

	17.	Tenant shall not place, install or operate on the Premises or in any part of the Building, any engine, stove or machinery, or conduct mechanical operations or cook thereon or therein, or place or use in or about the
Premises any explosives, gasoline, kerosene, oil, acids, caustics, or any inflammable, explosive, or hazardous materials without written consent of Landlord. 

  

	18.	Landlord reserves the right to rescind any of these Rules and Regulations and to make such other further Rules and Regulations as in its judgment will from time to time be needful for the safety, protection, care and
cleanliness of the Premises, Building, and the Land the operation thereof, the preservation of good order therein and the protection and comfort of the tenants and their agents, employees, licensees and invitees, which Rules and Regulations, when
made and written notice thereof if given to a tenant, will be binding upon it in like manner as if originally set forth herein. 

  

	19.	Tenant shall cooperate with Landlord in any programs in which Landlord may elect to participate relating to the Building’s (i) energy efficiency, management, and conservation; (ii) water conservation and
management; (iii) environmental standards and efficiency; (iv) recycling and reduction programs; and/or (v) safety, which participation may include, without limitation, the Leadership in Energy and Environmental Design (LEED) program
and related Green Building Rating System promoted by the U.S. Green Building Council, as well as the Energy Star program promoted by the U.S. Environmental Protection Agency and the U.S. Department of Energy. 

  
 42 

 EXHIBIT E 

[Sign and Lettering] 
 To
be delivered by Landlord to Tenant, and as may be updated from time to time, upon prior written notice to Tenant. 

  
 43 

 EXHIBIT F 

HAZARDOUS MATERIALS DISCLOSURE CERTIFICATE 

Your cooperation in this matter is appreciated. Initially, the information provided by you in this Hazardous Materials Disclosure Certificate is necessary for
the Landlord (identified below) to evaluate and finalize a lease agreement with you as tenant. After a lease agreement is signed by you and the Landlord (the “Lease Agreement”), on an annual basis in accordance with the provisions of the
signed Lease Agreement, you are to provide an update to the information initially provided by you in this certificate. The information contained in the initial Hazardous Materials Disclosure Certificate and each annual certificate provided by you
thereafter will be maintained in confidentiality by Landlord subject to release and disclosure as required by (i) any lenders and owners and their respective environmental consultants, (ii) any prospective purchaser(s) of all or any
portion of the property on which the Premises are located, (iii) Landlord to defend itself or its lenders, partners or representatives against any claim or demand, and (iv) any laws, rules, regulations, orders, decrees, or ordinances,
including, without limitation, court orders or subpoenas. Any and all capitalized terms used herein, which are not otherwise defined herein, shall have the same meaning ascribed to such term in the signed Lease Agreement. Any questions regarding
this certificate should be directed to, and when completed, the certificate should be delivered to: 
  

	Landlord:	PRINCIPAL LIFE INSURANCE COMPANY 

 801 Grand Ave. 

Des Moines, Iowa 50392-1370 

Attn: Central States Equities Team 
 Name of
(Prospective) Tenant: EverSpin Technologies, Inc. 
 Mailing Address: 4030 West Braker Lane, Suite 100, Austin, Texas 78759 

Contact Person, Title and Telephone Number(s): Bob Schuch, Dir. of Finance, 480-347-1113 

Contact Person for Hazardous Waste Materials Management and Manifests and Telephone Number(s): Bob Schuch, Dir. of Finance, 480-347-1113 

Address of (Prospective) Premises: 4030 West Braker Lane, Suite 100, Austin, Texas 78759 

Length of (Prospective) initial Term: Fifty-one (51) full calendar months and any partial month. 

 

	1.	GENERAL INFORMATION: 

 Describe the initial proposed operations to take place in, on, or about
the Premises, including, without limitation, principal products processed, manufactured or assembled services and activities to be provided or otherwise conducted. Existing tenants should describe any proposed changes to on-going operations. 

			
		  	  

		  	  

  

	2.	USE, STORAGE AND DISPOSAL OF HAZARDOUS MATERIALS 

  

	2.1	Will any Hazardous Materials be used, generated, stored or disposed of in, on or about the Premises 

(excluding nominal amounts of ordinary household cleaners and janitorial supplies which are not regulated by any Environmental Laws)? Existing
tenants should describe any Hazardous Materials which continue to be used, generated, stored or disposed of in, on or about the Premises. 
  

					
	Wastes	  	Yes, indicate amounts stored below	  	No
	Chemical Products	  	Yes, indicate amounts stored below	  	No
	Other	  	Yes, indicate amounts stored below	  	No

  
 44 

If Yes is marked, please explain and indicate amounts of each item 
stored:                                        
                                         

			
		  	  

		  	  

		  	  

		  	  

  

	 	2.2	If Yes is marked in Section 2.1, attach a list of any Hazardous Materials to be used, generated, stored or disposed of in, on or about the Premises, including the applicable hazard class and an estimate of the
quantities of such Hazardous Materials at any given time; estimated annual throughput; the proposed location(s) and method of storage; and the proposed location(s) and method of disposal for each Hazardous Material, including, the estimated
frequency, and the proposed contractors or subcontractors. Existing tenants should attach a list setting forth the information requested above and such list should include actual data from on-going operations and the identification of any variations
in such information from the prior year’s certificate. 

  

	3.	STORAGE TANKS AND SUMPS 

  

	 	3.1	Is any above or below ground storage of gasoline, diesel, petroleum, or other Hazardous Materials in tanks or sumps proposed in, on or about the Premises? Existing tenants should describe any such actual or proposed
activities. 

  

			
	Yes                    	  	No

If yes, please explain              
                                         
                                         
                                         
                                

			
		  	  

		  	  

  

	4.	WASTE MANAGEMENT 

  

	 	4.1	Has your company been issued an EPA Hazardous Waste Generator I.D. Number? Existing tenants should describe any additional identification numbers issued since the previous certificate. 

 

			
	Yes                    	  	No

  

	 	4.2	Has your company filed a biennial or quarterly reports as a hazardous waste generator? Existing tenants should describe any new reports filed. 

 

			
	Yes                    	  	No

 If yes, attach a copy of the most recent report filed. 

 

	5.	WASTEWATER TREATMENT AND DISCHARGE 

  

	 	5.1	Will your company discharge wastewater or other wastes to: 

  

							
	no	  	storm drain?	  	no	  	sewer?
	no	  	surface water?	  	no	  	no wastewater or other wastes discharged.

 Existing tenants should indicate any actual discharges. If so, describe the nature of any proposed or
actual discharge(s). 

			
		  	  

		  	  

  

  
 45 

	 	5.2	Will any such wastewater or waste he treated before discharge? 

  

			
	Yes                    	  	No/n/a

 if yes, describe the type of treatment proposed to be conducted. Existing tenants should describe the
actual treatment conducted. 
  

	6.	AIR DISCHARGES 

  

	 	6.1	Do you plan for any air filtration systems or stacks to be used in your company’s operations in, on or about the Premises that will discharge into the air; and will such air emissions be monitored?

 Existing tenants should indicate whether or not there are any such air filtration systems or stacks in use in, on or about
the Premises which discharge into the air and whether such air emissions are being monitored. 
  

			
	Yes                    	  	No

If yes, please describe:                 
                                         
                                         
                                         
                           

			
		  	  

		  	  

  

	 	6.2	Do you propose to operate any of the following types of equipment, or any other equipment requiring an air emissions permit? Existing tenants should specify any such equipment being operated in, on or about the
Premises. 

  

							
	no	  	Spray booth(s)	  	no	  	Incinerators
	no	  	Dip tank(s)	  	no	  	Other (Please describe)
	no	  	Drying oven(s)	  	no	  	No Equipment Requiring Air Permits

If yes, please describe:                 
                                         
                                         
                                         
                           

			
		  	  

		  	  

  

	7.	HAZARDOUS MATERIALS DISCLOSURES 

  

	 	7.1	Has your company prepared or will be required to prepare a Hazardous Materials management plan (“Management Plan”‘ pursuant to Fire Department or other governmental or regulatory agencies’
requirements? Existing tenants should indicate whether or not a Management Plan is required and has been prepared. 

  

			
	Yes                        	  	No

 If yes, attach a copy of the Management Plan. Existing tenants should attach a copy of any required
updates to the Management Plan. 
  

	8.	ENFORCEMENT ACTIONS AND COMPLAINTS 

  

	 	8.1	With respect to Hazardous Materials or Environmental Laws, has your company ever been subject to any agency enforcement actions, administrative orders, or consent decrees or has your company received requests for
information, notice or demand letters, or any other inquiries regarding its operations of similar nature to the space in question? Existing tenants should indicate whether or not any such actions, orders or decrees have been, or are in the process
of being, undertaken or if any such requests have can received. 

  
 46 

 
			
	Yes                    	  	No

 If yes, describe the actions, orders or decrees and any continuing compliance obligations imposed as a
result of these actions, orders or decrees and also describe any requests, notices or demands, and attach a copy of all such documents. Exiting tenants should describe and attach a copy of any new actions, orders, decrees, requests, notices or
demands not already delivered to Landlord pursuant to the provisions of the signed Lease Agreement. 
  

			
		  	  

		  	  

		  	  

  

	 	8.2	Have there ever been, or are there now pending, any lawsuits against your company regarding any environmental or health and safety concerns? 

 

			
	Yes                    	  	No

 If yes, describe any such lawsuits and attach copies of the complaint(s), cross-complaint(s), pleadings
and all other documents related thereto as requested by Landlord. Existing tenants should describe and attach a copy of any new complaint(s), cross-complaint(s), pleadings and other related documents not already delivered to Landlord pursuant to the
provisions of the signed Lease Agreement. 
  

			
		  	  

		  	  

  

	 	8.3	Have there been any problems or complaints from adjacent tenants, owners or other neighbors at your company’s current facility with regard to environmental or health and safety concerns? Existing tenants should
indicate whether or not there have been any such problems or complaints from adjacent tenants, owners or other neighbors at, about or near the Premises. 

 

			
	Yes                    	  	No

 If yes, please describe. Existing tenants should describe any such problems or complaints not already
disclosed to Landlord under the provisions of the signed Lease Agreement. 
  

			
		  	  

		  	  

  

	9.	PERMITS AND LICENSES 

  

	 	9.1	Attach copies of all Hazardous Materials permits and licenses including a Transporter Permit number issued to your company with respect to its proposed operations in, on or about the Premises, including, without
limitation any wastewater discharge permits, air emissions permits, and use permits or approvals. Existing tenants should attach copies of any new permits and licenses as well as any renewals of permits or licenses previously issued.

 The undersigned hereby acknowledges and agrees that (A) this Hazardous Materials Disclosure Certificate is being delivered in
connection with, and as required by, Landlord in connection with the evaluation and finalization of a Lease Agreement and will be attached thereto as an exhibit; (B) that this Hazardous Materials Disclosure Certificate is being delivered in
accordance with, and as required by, the provisions of the Lease Agreement; and (C) that Tenant shall have and retain full and complete responsibility and liability with respect to any of the Hazardous Materials disclosed in the HazMat
Certificate notwithstanding Landlord’s/Tenant’s receipt and/or approval of such certificate. Tenant further agrees that none of the following described acts or events shall be construed or otherwise interpreted as either (a) excusing,
diminishing or otherwise limiting Tenant from the requirement to fully and faithfully perform its obligations 

  
 47 

 
under the Lease with respect to Hazardous materials, including, without limitation, Tenant’s indemnification of the Indemnified Parties and compliance with all Environmental Laws, or
(b) imposing upon Landlord, directly or indirectly, any duty or liability with respect to any such Hazardous Materials, including, without limitation, any duty on Landlord to investigate or otherwise verify the accuracy of the representations
and statements made therein or to ensure that Tenant is in compliance with all Environmental Laws; (i) the delivery of such certificate to Landlord and/or Landlord’s acceptance of such certificate, (ii) Landlord’s review and
approval of such certificate, (iii) Landlord’s failure to obtain such certificate from Tenant at any time, or (iv) landlord’s actual or constructive knowledge of the types and quantities of Hazardous Materials being used, stored,
generated, disposed of or transported on or about the Premises by Tenant or Tenant’s Representatives. This should not he interpreted as a relief of Tenant’s responsibility to follow Environmental Laws and best practices so as not to impart
the Premises, the Building or the Land by the use of the disclosed materials. Notwithstanding the foregoing or anything to the contrary contained herein, the undersigned acknowledges and agrees that Landlord and its partners, lenders and
representatives may, and will, rely upon the statements, representations, warranties and certifications made herein and the truthfulness thereof in entering into the Lease Agreement and the continuance thereof throughout the Term, and any renewals
thereof, of the Lease Agreement. 
 I (print name) Bob Schuch, acting with full authority to bind the (proposed) Tenant and on behalf of the
(proposed) Tenant, certify, represent and warrant that the information contained in this certificate is true and correct to the best of my actual knowledge. 

(PROSPECTIVE) TENANT: 
 EVERSPIN TECHNOLOGIES, INC. 

a Delaware corporation 
  

			
	By:	 	 /s/ Bob Schuch

	Title:	 	Director of Finance
	Date:	 	5/21/2012

  
 48

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