Document:

exv10w36

Exhibit 10.36

Tenant: QlikTech, Inc.

Suite No: E220

LEASE

     THIS LEASE (“Lease”) is entered into as of the 15 day of November, 2005, between RADNOR
PROPERTIES-SDC, L.P., a Delaware limited partnership (“Landlord”), and QLIKTECH, INC., a Delaware
corporation, with its principal place of business at 5400 Trinity Road, Suite 107, Raleigh, North
Carolina 27607 (“Tenant”).

     In consideration of the mutual covenants stated below, and intending to be legally bound, the
parties covenant and agree as follows:

     1. PREMISES; CONSTRUCTION.

          (a) Landlord leases to Tenant and Tenant leases from Landlord Suite No. E220, which the
parties stipulate and agree is 12,266 rentable square feet shown on the space plan attached hereto
as Exhibit “A” (“Premises”), located at 150 Radnor-Chester Road, Radnor, Pennsylvania 19087
(“Building”). Notwithstanding that the Premises contains 12,266 rentable square feet, it is
understood and agreed that Tenant shall occupy and pay Fixed Rent for only 8,548 rentable square
feet during the first seven (7) Months of the Term.

          (b) The Premises shall be delivered to Tenant on an “As Is” basis except as indicated on the
attached Plan/Construction Scope of Work which shall be constructed by Landlord (the “Landlord’s
Work”). Landlord shall only be responsible for payment of a maximum cost of $367,980 (the “Tenant
Allowance”) for the Landlord’s Work. All costs in excess thereof shall be paid by Tenant to
Landlord within thirty (30) days of receipt by Tenant of Landlord’s invoice for same, together with
reasonable and appropriate supporting documentation. To the extent Tenant does not use the entire
Tenant Allowance for the Landlord’s Work as shown on the Plan/Construction Scope of Work, Tenant
shall be permitted to use any remaining balance for upgrades to the building standard finishes.

          (c) If Landlord shall be delayed in completing the Landlord’s Work as a result of (i) Tenant’s
failure to furnish final plans and specifications by November 8, 2005; (ii) Tenant’s failure to
execute this Lease by November 8, 2005; (iii) Tenant’s request for materials, finishes or
installations other than Landlord’s standard; (iv) Tenant’s changes in said plans; or (v) the
performance or completion of any work, labor or services by a party employed by Tenant (each, a
“Tenant’s Delay”); then the commencement of the Term of this Lease and the payment of Fixed Rent
hereunder shall be accelerated by the number of days of such delay. If any change, revision or
supplement to the scope of the Landlord’s Work is requested by Tenant, then such increased costs
associated with such change, revision or supplement shall be paid by Tenant in advance and such
occurrence shall not change the Commencement Date of the Term and shall not alter Tenant’s
obligations under this Lease. Notwithstanding anything to the contrary stated in Article 2 below,
the Term shall commence on the date the Premises would have been delivered to Tenant but for the
Tenant’s Delay or Tenant’s change order.

 

 

     2. TERM. The Term of this Lease shall commence (the “Commencement Date”) on the
earlier of (i) the date on which Tenant, with Landlord’s prior consent, assumes possession of the
Premises for its Permitted Use, or (ii) upon substantial completion of the improvements required to
be made by Landlord under Article 1, such completion date is estimated to February 15, 2006;
provided, however, such date is provided for estimation purposes only and shall not affect any term
or provision of this Lease. “Substantial completion” means that the Landlord’s Work has been
completed to the extent that the Premises may be occupied by Tenant for its Permitted Use, subject
only to completion of minor finishing, adjustment of equipment, and other minor construction
aspects, and Landlord has procured a temporary or permanent certificate of occupancy permitting the
occupancy of the Premises, if required by law. In the event that minor finishing and/or
construction work remains to be completed by Landlord at the commencement of the Term, Landlord
agrees to complete such items (as reasonably identified on a list prepared and agreed to by
Landlord and Tenant) within in a timely manner. The Term shall be for a period of sixty-seven (67)
months (the “Term”) ending on the last day of the 67th full calendar month. The Commencement Date
shall be confirmed by Landlord and Tenant by the execution of a Confirmation of Lease Term (“COLT”)
in the form attached hereto as Exhibit “B”. If Tenant fails to execute or object to the
COLT within ten (10) business days of its delivery, Landlord’s determination of such dates shall be
deemed accepted by Tenant. In the event that Landlord is unable to deliver the Premises to Tenant
in accordance with the terms of this Lease by March 15, 2005, and such failure is not as a result
of a Tenant Delay or force majeure event, Tenant shall receive an abatement of Fixed Rent and
Additional Rent for each day beyond March 15, 2005, that Tenant is unable to occupy the Premises.

     3. FIXED RENT; SECURITY DEPOSIT.

          (a) Commencing on the Commencement Date and on the first (1st) day of each month
thereafter during the Term, Tenant shall pay to Landlord without notice or demand, and without
set-off, deduction or counterclaim the monthly installment of annual Fixed Rent as set forth below
by check sent to Landlord, P.O. Box 8538-363, Philadelphia, PA 19171. All payments must include
the following information: Building #597 and Lease #005002. The Lease # will be provided to Tenant
in the COLT. Fixed Rent and all other sums due from Tenant under this Lease shall collectively be
defined as “Rent”.

	 	 	 	 	 	 	 	 	 	 	 	 	 
	PORTION	 	 	 	 	 	MONTHLY	 	ANNUAL
	OF TERM	 	PER R.S.F.	 	INSTALLMENTS	 	FIXED RENT
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Month 1
	 	$	0.00	*	 	$	0.00	 	 	$	0.00	 
	Months 2 — 7
	 	$	25.50	*	 	$	18,164.50	 	 	$	217,974.00	 
	Months 8 — 12
	 	$	25.50	*	 	$	26,065.25	 	 	$	312,783.00	 
	Months 13 — 24
	 	$	26.00	*	 	$	26,576.33	 	 	$	318,916.00	 
	Months 25 — 36
	 	$	26.50	*	 	$	27,087.42	 	 	$	325,049.00	 
	Months 37 — 48+
	 	$	27.00	*	 	$	27,598.50	 	 	$	331,182.00	 
	Months 49 — 60
	 	$	27.50	*	 	$	28,109.58	 	 	$	337,315.00	 
	Months 61 — 67
	 	$	28.00	*	 	$	28,620.67	 	 	$	343,448.00	 

 

			
	*	 	plus any charges set forth in Articles 4 and 5 below

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	+	 	Provided that Tenant is (i) not in default at the commencement of Month 44, (ii) has never been
in monetary default during the Term in an amount aggregating in excess of $37,000.00 and (iii)
Tenant has not elected to terminate this Lease in accordance with Article 28 below, Landlord will
forgive Fixed Rent for Month 44.

For purposes of this Lease, Month 1 will be the first full month of the Term after the Commencement
Date. Fixed Rent for any partial month of the Term prior to Month 1 will be charged at the same
rate as the Fixed Rent for Months 2-7, pro rated for the number of days in the partial month.

          (b) Tenant shall pay the Fixed Rent for Month 2 and the Security Deposit (as defined below) by
two separate checks upon the Tenant’s execution of this Lease. If any amount due from Tenant is
not paid to Landlord when due, Tenant shall also pay as Additional Rent (as defined in Article
4 hereof) a late fee of five (5%) percent of the total payment then due. The late fee shall
accrue on the initial date of a payment’s due date, irrespective of any grace period granted
hereunder. Tenant shall be required to pay a security deposit of $25,000.00 under this Lease (the
“Security Deposit”), as security for the prompt and complete performance by Tenant of every
provision of this Lease. No interest shall be paid to Tenant on the Security Deposit. If Tenant
fails to perform any of its obligations hereunder, Landlord may use, apply or retain the whole or
any part of the Security Deposit for the payment of (i) any rent or other sums of money which
Tenant may not have paid when due, (ii) any sum expended by Landlord in accordance with the
provisions of this Lease, and/or (iii) any sum which Landlord may expend or be required to expend
by reason of Tenant’s default. The use of the Security Deposit by Landlord shall not prevent
Landlord from exercising any other remedy provided by this Lease or by law and shall not operate as
either liquidated damages or as a limitation on any recovery to which Landlord may otherwise be
entitled. If any portion of the Security Deposit is used, applied or retained by Landlord, Tenant
agrees, within five (5) days after the written demand therefor is made by Landlord, to deposit cash
with the Landlord in an amount sufficient to restore the Security Deposit to its original amount.
In addition to the foregoing, if Tenant defaults (irrespective of the fact that Tenant cured such
default) more than once in its performance of a monetary obligation and such monetary defaults
aggregate in excess of $50,000 under this Lease, Landlord may require Tenant to increase the
Security Deposit to the greater of twice the (i) Fixed Rent then paid monthly, or (ii) the initial
amount of the Security Deposit. If Tenant shall fully comply with all of the provisions of this
Lease, the Security Deposit, or any balance thereof, shall be returned to Tenant within a
reasonable time after the later of expiration of the Term or Tenant’s surrender of the Premises as
required hereunder. Upon the return of the Security Deposit to the original Tenant hereunder, or
the remaining balance thereof, Landlord shall be completely relieved of liability with respect to
the Security Deposit. In the event of a transfer of the Building, Landlord shall have the right to
transfer the Security Deposit and Landlord shall thereupon be released by Tenant from all liability
for the return of such Security Deposit. Upon the assumption of such Security Deposit by the
transferee, Tenant agrees to look solely to the new landlord for the return of said Security
Deposit.

     4. ADDITIONAL RENT.

          (a) Commencing on January 1, 2007, and in each calendar year thereafter during the Term,
Tenant shall pay in advance on a monthly basis to Landlord, Tenant’s Share of

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the “Recognized Expenses”, without deduction, counterclaim or setoff, to the extent such
Recognized Expenses exceed the Recognized Expenses in calendar year 2006 (“Base Year”). Tenant’s
Share is 3.61%, which Share may increase or decrease as the Building size increases or decreases.
Recognized Expenses are (i) all reasonable operating costs and expenses related to the maintenance,
operation and repair of the Building incurred by Landlord, including but not limited to management
fee not to exceed five (5%) percent of Rent; common area electric; and capital expenditures and
capital repairs and replacements shall be included as operating expenses solely to the
extent of the amortized costs of same over the useful life of the improvement in accordance with
generally accepted accounting principles such useful life not to exceed ten (10) years; (ii) all
insurance premiums payable by Landlord for insurance with respect to the Building and (iii) Taxes
payable on the Building. “Taxes” shall be defined as all taxes, assessments and other governmental
charges, including special assessments for public improvements or traffic districts which are
levied or assessed against the Building during the Term or, if levied or assessed prior to the
Term, which properly are allocable to the Term, and reasonable real estate tax appeal expenditures
incurred by Landlord to the extent of any reduction resulting thereby. Nothing herein contained
shall be construed to include as Taxes: (A) any inheritance, estate, succession, transfer, gift,
franchise, corporation, net income or profit tax or capital levy that is or may be imposed upon
Landlord or (B) any transfer tax or recording charge resulting from a transfer of the Building;
provided, however, that if at any time during the Term the method of taxation prevailing at the
commencement of the Term shall be altered so that in lieu of or as a substitute for the whole or
any part of the taxes now levied, assessed or imposed on real estate as such there shall be levied,
assessed or imposed (i) a tax on the rents received from such real estate, or (ii) a license fee
measured by the rents receivable by Landlord from the Premises or any portion thereof, or (iii) a
tax or license fee imposed upon Premises or any portion thereof, then the same shall be included in
the computation of Taxes hereunder.

          (b) Each of the Recognized Expenses shall for all purposes be treated and considered as
Additional Rent. Tenant shall pay, in monthly installments in advance, on account of Tenant’s
Share of Recognized Expenses, the estimated amount of the increase of such Recognized Expenses for
such year in excess of the Base Year as determined by Landlord in its reasonable discretion. Prior
to the end of the calendar year in which the Lease commences and thereafter for each successive
calendar year (each, a “Lease Year”), or part thereof, Landlord shall send to Tenant a statement of
projected increases in Recognized Expenses in excess of the Base Year and shall indicate what
Tenant’s Share of Recognized Expenses shall be. The Base Year shall be adjusted to exclude from
the Base Year “extraordinary items” of snow removal incurred in such calendar year. For purposes
of this subparagraph, extraordinary items of snow removal shall mean cost increases over the prior
calendar year of eleven and one quarter percent (11.25%) or more with respect to snow removal. In
the event “extraordinary items” of snow removal are removed from the Base Year, the average cost of
snow removal for the three (3) years prior to the Base Year shall be added to the Recognized
Expenses for the Base Year in lieu of the “extraordinary items”. As soon as administratively
available, Landlord shall send to Tenant a statement of actual costs for Recognized Expenses for
the prior Lease Year showing the Share due from Tenant. In the event the amount prepaid by Tenant
exceeds the amount that was actually due then Landlord shall issue a credit to Tenant in an amount
equal to the over charge, which credit Tenant may apply to future payments on account of Recognized
Expenses until Tenant has been fully credited with the over charge. If the credit due to Tenant is
more than the aggregate total of future rental payments, Landlord shall pay to Tenant the
difference between

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the credit in such aggregate total. In the event Landlord has undercharged Tenant, then
Landlord shall send Tenant an invoice with the additional amount due, which amount shall be paid in
full by Tenant within thirty (30) days of receipt.

     Notwithstanding anything contained herein to the contrary, “Recognized Expenses” shall not
include costs for tenant improvements, interest and principal payments on loans for the Building or
Project, real estate leasing commissions, salaries and other compensation for executive officers of
the Landlord or Landlord’s designated manager of the Building or Project; expenditures for which
the Landlord has been directly reimbursed, expenses incurred in enforcing obligations of other
tenants, advertising, marketing or leasing costs, fees or commissions, depreciation deductions
taken by the Landlord for tax purposes, income taxes of Landlord, rent paid by Landlord under a
ground lease for the Building or the Project (if any), any legal expenses or other costs or
expenses arising out of any willful misconduct or gross negligence or indemnity obligation of
Landlord, legal fees or other costs and expenses relating to the preparation and execution of this
Lease or relating to the preparation and execution of any other agreements or instruments relating
to the leasing of the Building, or any other improvements to tenant space within the Building, any
costs or expenses that are properly chargeable to particular tenants in the Building, including,
without limitation, costs and expenses for providing heating and air conditioning service outside
of normal building hours and damages to the Building caused by the act or neglect of another
tenant, any heating and air conditioning costs, janitorial services costs or costs for other
utilities and services if and to the extent incurred to enable Landlord to complete construction of
the Building or any other improvements to tenant space within the Building, any costs or expenses
relating to utilities or other services for which Tenant pays its appropriate share by paying for
such utilities or other services directly; provided, however, nothing herein shall abrogate
Tenant’s responsibility to pay for Tenant’s Share of service and utility expenses relating to
common areas and the operation and maintenance of the Building, any costs and expenses relating to
the cost or correcting, repairing or restoring any defective workmanship, materials or equipment in
any tenant space in the Building, costs and expenses paid to Landlord or to any person or entity
affiliated with Landlord if any to the extent such costs and expenses are materially greater than
they would have been if paid to a person or entity not related to or affiliated with Landlord,
salaries of officers of Landlord and employees of Landlord above the grade of Building manager,
costs and expenses for any work or services furnished to any building or facility other than the
Building and the Project, insurance premiums and all other costs and expenses but only to the
extent Landlord is entitled to be reimbursed therefor from tenants, costs and expenses paid by
Landlord for painting or decorating any interior part of the Building, other than common areas,
lease payments for rented equipment the cost of which equipment would constitute a capital
expenditure if the equipment were purchased by Landlord; provided, however, if the reasonable
amortization of the cost (or a portion thereof) of such equipment would be permitted to be included
in Recognized Expenses as provided above if such equipment were purchased by Landlord, the
equipment lease payments may be included in Recognized Expenses to the same extent, cost of tools
and equipment purchased in connection with the initial operation, maintenance and repair of the
Building or the common areas for the Project, cost of all licenses and permits (and all renewals
thereof), except licenses and permits that are necessary or appropriate to the operation and
maintenance (as opposed to construction) of the Building and the common areas for the Project.

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     Tenant shall have the right, at its sole cost and expense, within ninety (90) days from
receipt of Landlord’s statement of Recognized Expenses, to audit or have its appointed accountant
audit Landlord’s records related to Recognized Expenses and Taxes provided that any such audit may
not occur more frequently than once each calendar year nor apply to any year prior to the year of
the statement being reviewed. In the event Tenant’s audit discloses any discrepancy, Landlord and
Tenant shall use their best efforts to resolve the dispute and make an appropriate adjustment,
failing which, they shall submit any such dispute to arbitration pursuant to the rules and under
the jurisdiction of the American Arbitration Association in Philadelphia, Pennsylvania, The
decision rendered in such arbitration shall be final, binding and non- appealable. The expenses of
arbitration, other than individual legal and accounting expenses which shall be the respective
parties’ responsibility, shall be divided equally between the parties. In the event, by agreement
or as a result of an arbitration decision, it is determined that the actual Recognized Expenses and
Taxes exceeded those claimed by the Landlord by more than ten percent (10%), the actual, reasonable
hourly costs to Tenant of Tenant’s audit (including legal and accounting costs) shall be reimbursed
by Landlord. In the event Tenant utilizes a contingent fee auditor and Landlord is responsible for
the payment of such auditor, Landlord shall only pay the reasonable hourly fee of such auditor.

     5. ELECTRICITY CHARGES. Landlord shall not be liable for any interruption of any
utility service for any reason unless caused by the gross negligence or willful misconduct of
Landlord. Tenant shall pay to Landlord, as Additional Rent, within fifteen (15) business days of
receipt of Landlord’s billing statement therefor, all charges incurred by Landlord for electricity,
such charges to be based upon Tenant’s Share of the Building. Landlord, during the hours of 8:00
A.M. to 6:00 P.M. on weekdays and on Saturdays from 8:00 A.M. to 1:00 P.M. (“Working Hours”),
excluding legal holidays, shall furnish the Premises with heat and air-conditioning in the
respective seasons, and provide the Premises with electricity for lighting and usual office
equipment. At any hours other than the aforementioned, such services will be provided at Tenant’s
expense at $75.00 per hour. Notwithstanding anything herein to the contrary, if Landlord
reasonably determines that Tenant’s use of electricity is excessive, Tenant agrees to pay for the
installation of a separate electric meter to measure electrical usage in excess of normal office
use and to pay Landlord for all such excess electricity registered in such submeter.

     6. SIGNS; USE OF PREMISES AND COMMON AREAS. As part of Tenant fit-out cost, Landlord
shall provide the original Tenant hereinabove named with standard identification signage on all
Building directories and at the entrance to the Premises. No other signs shall be placed, erected
or maintained by Tenant at any place upon the Premises or Building. Tenant’s use of the Premises
shall be limited to general office use and storage incidental thereto (“Permitted Use”). The
Permitted Use shall be subject to all applicable laws and governmental rules and regulations and to
all reasonable requirements of the insurers of the Building. Tenant shall not install in or for
the Premises any equipment which requires more electric current than is standard. Tenant shall
have the right, non-exclusive and in common with others, to use (i) the exterior paved driveways
and walkways of the Building for vehicular and pedestrian access to the Building, (ii) the internal
common area, including elevators and (iii) the designated parking areas of the Building for the
parking of automobiles of Tenant and its employees and business visitors; provided Landlord shall
have the right in its sole discretion and from time to time, to construct, maintain, operate,
repair, close, limit, take out of service, alter, change and modify all or any part of the common
areas of the Building, including without

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limitation, reasonably restrict or limit Tenant’s utilization of the parking areas in the
event the same become overburdened and in such case to equitably allocate on proportionate basis or
assign parking spaces among Tenant and the other tenants of the Building.

     7. ENVIRONMENTAL MATTERS. Tenant shall not generate, manufacture, refine, transport,
treat, store, handle, dispose, bring or otherwise cause to be brought or permit any of its agents,
employees, contractors or invitees to bring in, on or about any part of the Premises or Building
any hazardous substance or hazardous waste in violation of applicable law.

     8. TENANT’S ALTERATIONS. Tenant will not cut or drill into or secure any fixture,
apparatus or equipment or make alterations, improvements or physical additions (collectively,
“Alterations”) of any kind to any part of the Premises without first obtaining the written consent
of Landlord, such consent not to be unreasonably withheld. Notwithstanding anything in this Lease
to the contrary, all furniture, movable trade fixtures and equipment (including telephone, security
and communication equipment system wiring and cabling) installed by or for Tenant, its assignees or
sublessees shall be removed by Tenant at the termination of this Lease.

     9. ASSIGNMENT AND SUBLETTING. Tenant shall not, without the prior written consent of
Landlord, which shall not be unreasonably withheld, assign this Lease or any interest herein or
sublet the Premises or any part thereof, Any of the foregoing acts without such consent shall be
void. If at any time during the Term Tenant desires to assign this Lease or sublet all or any part
of the Premises, Tenant shall give notice to Landlord of such desire, including the name, address
and contact party for the proposed assignee or subtenant, the effective date of the proposed
assignment or sublease (including the proposed occupancy date by the proposed assignee or
sublessee), and in the instance of a proposed sublease, the square footage to be subleased, a floor
plan professionally drawn to scale depicting the proposed sublease area, and a statement of the
duration of the proposed sublease (which shall in any and all events expire by its terms prior to
the scheduled expiration of this Lease, and immediately upon the sooner termination hereof).
Landlord may, at its option, exercisable by notice given to Tenant within thirty (30) days next
following Landlord’s receipt of Tenant’s notice, elect to recapture the Premises if Tenant is
proposing to sublet or terminate this Lease in the event of an assignment. Regardless of
Landlord’s consent, no subletting or assignment shall release Tenant of Tenant’s obligation or
alter the primary liability of Tenant to pay the Rent and to perform all other obligations to be
performed by Tenant hereunder for the remainder of the then current Lease Term. Landlord shall be
entitled to a $250 fee for consenting to any sublet or assignment.

     The parties agree that it shall not be unreasonable of Landlord to withhold its consent to any
assignment or sublease if: (i) the proposed assignee or sublessee shall have a net worth which is
not acceptable to Landlord in Landlord’s reasonable discretion; (ii) the proposed assignee or
sublessee shall have no reliable credit history or an unfavorable credit history, or other
reasonable evidence exists that the proposed assignee or sublessee will experience difficulty in
satisfying its financial or other obligations under this Lease; (iii) the proposed assignee of
sublessee, in Landlord’s reasonable opinion, is not reputable and of good character; (iv) the
portion of the Premises requested to be subleased renders the balance of the Premises unleasable as
a separate area; (v) Tenant is proposing a sublease at a rental or subrental rate which is less
than the then fair market rental rate for the portion of the Premises being subleased

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or assigned, or Tenant is proposing to assign or sublease to an existing tenant of the
Building or another property owned by Landlord or by its partners, or to another prospect with whom
Landlord or its partners, or their affiliates are then negotiating; (vi) the proposed assignee or
sublessee will cause Landlord’s existing parking facilities to be reasonably inadequate, or in
violation of code requirements, or require Landlord to increase the parking area or the number of
parking spaces to meet code requirements, or the nature of such party’s business shall reasonably
require more than four (4) parking spaces per 1,000 rentable square feet of floor space, or (vii)
the nature of such party’s proposed business operation would or might reasonably permit or require
the use of the Premises in a manner inconsistent with the “Permitted Use” specified herein, would
or might reasonably otherwise be in conflict with express provisions of this Lease, would or might
reasonably violate the terms of any other lease for the Building, or would, in Landlord’s
reasonable judgment, otherwise be incompatible with other tenancies in the Building.

     Tenant may, after notice to, but without the consent of Landlord, assign this Lease to an
affiliate (i.e., a corporation 50% or more of whose capital stock is owned by the same stockholders
owning 50% or more of Tenant’s capital stock), parent or subsidiary corporation of Tenant or to a
corporation to which it sells or assigns all of substantially all of its assets or stock or with
which it may be consolidated or merged (“Affiliate”), provided such purchasing, consolidated,
merged, affiliated or subsidiary corporation shall, in writing, assume and agree to perform all of
the obligations of Tenant under this Lease, shall have a net worth at least equal to $10,000,000,
and it shall deliver such assumption with a copy of such assignment to Landlord within ten (10)
days thereafter, and provided further that Tenant shall not be released or discharged from any
liability under this Lease by reason of such assignment.

     Anything in this Section 9 to the contrary notwithstanding, no assignment or sublease shall be
permitted under this Lease if Tenant is in default at the time of such assignment or has previously
defaulted (irrespective of the fact that Tenant cured such default) more than twice in connection
with any of its monetary obligations under this Lease and such monetary defaults aggregate in
excess of $20,000.

     10. LANDLORD’S RIGHT OF ENTRY. Landlord and persons authorized by Landlord may enter
the Premises at all reasonable times upon reasonable advance notice (or any time without notice in
the case of an emergency). Landlord shall not be liable for inconvenience to or disturbance of
Tenant by reason of any such entry; provided, however, that in the case of repairs or work, such
shall be done, so far as practicable, so as to not unreasonably interfere with Tenant’s use of the
Premises.

     11. REPAIRS AND MAINTENANCE. Tenant, at its sole cost and expense, shall keep and
maintain the Premises in good order and condition, free of rubbish, and shall promptly make all
non-structural repairs necessary to keep and maintain such good order and condition. Tenant shall
have the option of replacing lights, ballasts, tubes, ceiling tiles, outlets and similar equipment
itself or it shall have the ability to advise Landlord of Tenant’s desire to have Landlord make
such repairs. If requested by Tenant, Landlord shall make such repairs to the Premises within a
reasonable time of notice to Landlord and shall charge Tenant for such services at Landlord’s
standard rate (such rate to be competitive with the market rate for such services). When used in
this Article 11, the term “repairs” shall include replacements and renewals when necessary.
All repairs made by Tenant or Landlord shall utilize materials and

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equipment which are at least equal in quality and usefulness to those originally used in
constructing the Building and the Premises. Landlord shall provide the janitorial services for the
Premises set forth on Exhibit “C”.

     12. INSURANCE; SUBROGATION RIGHTS. Tenant shall obtain and keep in force at all times
during the term hereof, at its own expense, commercial general liability insurance including
contractual liability and personal injury liability and all similar coverage, with combined single
limits of $2,000,000.00 on account of bodily injury to or death of one or more persons as the
result of any one accident or disaster and on account of damage to property, or in such other
amounts as Landlord may from time to time require. Tenant shall also require its movers to procure
and deliver to Landlord a certificate of insurance naming Landlord as an additional insured.
Tenant shall, at its sole cost and expense, maintain in full force and effect on all Tenant’s trade
fixtures, equipment and personal property on the Premises, a policy of “special form” property
insurance covering the full replacement value of such property. All liability insurance required
hereunder shall not be subject to cancellation without at least thirty (30) days prior notice to
all insureds, and shall name Tenant as insured and Landlord and Brandywine Realty Trust as
additional insureds, and, if requested by Landlord, shall also name as an additional insured any
mortgagee or holder of any mortgage which may be or become a lien upon any part of the Premises.
Prior to the commencement of the Term, Tenant shall provide Landlord with certificates which
evidence that the coverages required have been obtained for the policy periods. Tenant shall also
furnish to Landlord throughout the Term replacement certificates at least thirty (30) days prior to
the expiration dates of the then current policy or policies. All the insurance required under this
Lease shall be issued by insurance companies authorized to do business in the Commonwealth of
Pennsylvania with a financial rating of at least an A-X as rated in the most recent edition of
Best’s Insurance Reports and in business for the past five years. The limit of any such insurance
shall not limit the liability of Tenant hereunder. If Tenant fails to maintain such insurance,
Landlord may, but is not required to, procure and maintain the same, at Tenant’s expense to be
reimbursed by Tenant as Additional Rent within ten (10) days of written demand. Any deductible
under such insurance policy in excess of Twenty Five Thousand dollars ($25,000) must be approved by
Landlord in writing prior to issuance of such policy. Tenant shall not self-insure without
Landlord’s prior written consent. Each party hereto, and anyone claiming through or under them by
way of subrogation, waives and releases any cause of action it might have against the other party
and Brandywine Realty Trust and their respective employees, officers, members, partners, trustees
and agents, on account of any loss or damage that is insured against under any insurance policy
required to be obtained hereunder. Each party agrees that it will use its best efforts to cause
its insurance carrier to endorse all applicable policies waiving the carrier’s right of recovery
under subrogation or otherwise against the other party.

     Landlord shall obtain and maintain the following insurance during the Term of this Lease: (i)
replacement cost insurance including “special form” property insurance on the Building and on the
Project, (ii) builder’s risk insurance for the Landlord’s Work to be constructed by Landlord in the
Project, and (iii) commercial general liability insurance (including bodily injury and property
damage) covering Landlord’s operations at the Project in amounts reasonably required by the
Landlord’s lender or Landlord.

-9-

 

     13. INDEMNIFICATION. Tenant shall defend, indemnify and hold harmless Landlord,
Brandywine Realty Trust and their respective employees and agents from and against any and all
third-party claims, actions, damages, liability and expense (including all reasonable attorney’s
fees, expenses and liabilities incurred in defense of any such claim or any action or proceeding
brought thereon) arising from any activity, work or things done, permitted or suffered by Tenant or
its agents, licensees or invitees in or about the Premises or Building contrary to the requirements
of this Lease, and any negligence or willful act of Tenant or any of Tenant’s agents, contractors,
employees or invitees. Without limiting the generality of the foregoing, Tenant’s obligations
shall include any case in which Landlord or Brandywine Realty Trust shall be made a party to any
litigation commenced by or against Tenant, its agents, subtenants, licensees, concessionaires,
contractors, customers or employees, in which case Tenant shall defend, indemnify and hold harmless
Landlord and Brandywine Realty Trust and shall pay all costs, expenses and reasonable attorney’s
fees incurred or paid by Landlord and Brandywine Realty Trust in connection with such litigation,
after notice to Tenant and Tenant’s refusal to defend such litigation, and upon notice from
Landlord shall defend the same at Tenant’s expense by counsel satisfactory to Landlord.

     Landlord shall defend, indemnify and hold harmless Tenant and its respective employees and
agents from and against any and all third-party claims, actions, damages, liability and expense
(including all attorney’s fees, expenses and liabilities incurred in defense of any such claim or
any action or proceeding brought thereon) arising from (i) Landlord’s improper use of the Premises,
(ii) the improper conduct of Landlord’s business, (iii) any activity, work or things done,
permitted or suffered by Landlord in or about the Premises or elsewhere contrary to the
requirements of the Lease, (iv) any breach or default in the performance of any obligation of
Landlord’s part to be performed under the terms of this Lease, and (v) any negligence or willful
act of Landlord or any of Landlord’s agents, contractors, employees or invitees. Without limiting
the generality of the foregoing, Landlord’s obligations shall include any case in which Tenant
shall be made a party to any litigation commenced by or against Landlord, its agents, subtenants,
licensees, concessionaires, contractors, customers or employees, then Landlord shall defend,
indemnify and hold harmless Tenant and shall pay all costs, expenses and reasonable attorney’s fees
incurred or paid by Tenant in connection with such litigation, after notice to Landlord and
Landlord’s refusal to defend such litigation, and upon notice from Tenant shall defend the same at
Landlord’s expense by counsel satisfactory to Tenant.

     14. FIRE DAMAGE. If (i) the casualty damage is of a nature or extent that, in
Landlord’s reasonable judgment, the repair and restoration work would require more than two hundred
ten (210) consecutive days to complete after the casualty (assuming normal work crews not engaged
in overtime), or (ii) more than thirty (30%) percent of the total area of the Building is
extensively damaged, or (iii) the casualty occurs in the last Lease Year of the Term and Tenant has
not exercised a renewal right or (iv) insurance proceeds are unavailable or insufficient, either
party shall have the right to terminate this Lease and all the unaccrued obligations of the parties
hereto, by sending written notice of such termination to the other within thirty (30) days of the
date of casualty. Such notice is to specify a termination date no less than fifteen (15) days
after its transmission. In the event of damage or destruction to the Premises or any part thereof
as set forth in subsections (i), (ii) or (iii) above and neither party has terminated this Lease,
Tenant’s obligation to pay Fixed Rent and Additional Rent shall be equitably adjusted or abated for
such time as the Premises is not capable of being used by Tenant for its Permitted Use.

-10-

 

     15. SUBORDINATION; RIGHTS OF MORTGAGEE. This Lease shall be subordinate at all times
to the lien of any mortgages now or hereafter placed upon the Premises and/or Building and land of
which they are a part without the necessity of any further instrument or act on the part of Tenant
to effectuate such subordination. Tenant further agrees to execute and deliver within ten (10)
days of demand such further instrument evidencing such subordination and attornment as shall be
reasonably required by any mortgagee. If Landlord shall be or is alleged to be in default of any
of its obligations owing to Tenant under this Lease, Tenant shall give to the holder of any
mortgage (the “Mortgagee”) now or hereafter placed upon the Premises and/or Building, notice by
overnight mail of any such default which Tenant shall have served upon Landlord. Tenant shall not
be entitled to exercise any right or remedy as there may be because of any default by Landlord
without having given such notice to the Mortgagee. If Landlord shall fail to cure such default,
the Mortgagee shall have forty-five (45) additional days within which to cure such default.

     Landlord agrees to use reasonable commercial efforts to obtain a non-disturbance agreement
from the holder of any mortgage or other encumbrance now or hereafter placed upon the Premises.
Tenant acknowledges that any such agreement will be prepared on either the Lender’s or the
Landlord’s standard forms, may require Tenant to confirm the subordination of this Lease and may
require Tenant to agree to attorn to the holder of such mortgage or other encumbrance. In the
event Landlord is unable to obtain a non-disturbance agreement despite using reasonable commercial
efforts, such failure shall not affect the effectiveness of this Lease or diminish in any way
Tenant’s obligations hereunder.

     16. CONDEMNATION. If in Landlord’s reasonable judgment a taking renders the Building
unsuitable at Landlord’s option, this Lease shall, at either party’s option, terminate as of the
date title to the condemned real estate vests in the condemnor, and the Rent herein reserved shall
be apportioned and paid in full by Tenant to Landlord to that date and all rent prepaid for the
period beyond that date shall forthwith be repaid by Landlord to Tenant and neither party shall
thereafter have any liability hereunder. If this Lease is not terminated after any such taking or
condemnation, the Fixed Rent and the Additional Rent shall be equitably reduced in proportion to
the area of the Premises which has been taken for the balance of the Term. Tenant shall have the
right to make a claim against the condemnor for moving expenses and business dislocation damages to
the extent that such claim does not reduce the sums otherwise payable by the condemnor to Landlord.

     17. ESTOPPEL CERTIFICATE. Each party agrees at any time and from time to time, within
ten (10) days after the other party’s written request, to execute and deliver to the other party a
written instrument in recordable form certifying all information reasonably requested.

     18. DEFAULT. If: Tenant fails to pay any installment of Rent when due; provided,
however, Landlord shall provide written notice of the failure to pay such Rent and Tenant shall
have a three (3) business day grace period from its receipt of such Landlord’s notice within which
to pay such Rent without creating a default hereunder. The late fee set forth in Article 3 hereof
shall be due on the first day after such payment is due irrespective of the foregoing notice and
grace period; Tenant fails to bond over a construction or mechanics lien within ten (10) days of
demand; Tenant fails to observe or perform any of Tenant’s other non-monetary agreements

-11-

 

or obligations herein contained within ten (10) days after written notice specifying the
default, or the expiration of such additional time period as is reasonably necessary to cure such
default, provided Tenant immediately commences and thereafter proceeds with all due diligence and
in good faith to cure such default; then, in any such event, an “Event of Default” shall be deemed
to exist and Tenant shall be in default hereunder.

     If an Event of Default shall occur, the following provisions shall apply and Landlord shall
have, in addition to all other rights and remedies available at law or in equity, including the
right to terminate the Lease, the rights and remedies set forth herein, which may be exercised upon
or at any time following the occurrence of an Event of Default: 1. Acceleration of Rent.
By notice to Tenant, Landlord shall have the right to accelerate all Rent and all expense due
hereunder and otherwise payable in installments over the remainder of the Term; and the amount of
accelerated rent to the termination date, without further notice or demand for payment, shall be
due and payable by Tenant within five (5) days after Landlord has so notified Tenant, such amount
collected from Tenant shall be discounted to present value using an interest rate of six percent
(6%) per annum. Additional Rent which has not been included, in whole or in part, in accelerated
rent, shall be due and payable by Tenant during the remainder of the Term, in the amounts and at
the times otherwise provided for in this Lease. 2. Landlord’s Damages. The damages which
Landlord shall be entitled to recover from Tenant shall be the sum of: (i) all Fixed Rent and
Additional Rent accrued and unpaid as of the termination date; and (ii)(a) all reasonable costs and
expenses incurred by Landlord in recovering possession of the Premises, including legal fees, and
removal and storage of Tenant’s property, (ii)(b) the reasonable costs and expenses of restoring
the Premises to the condition in which the same were to have been surrendered by Tenant as of the
expiration of the Term, and (ii)(c) the reasonable costs of reletting commissions; and (iii) all
Fixed Rent and Additional Rent otherwise payable by Tenant over the remainder of the Term as
reduced to present value and all consequential damages relating to Tenant’s breach of this Lease.
Less deducting from the total determined under subsections (i), (ii) and (iii) above, all Rent
which Landlord receives from other tenant(s) by reason of the leasing of the Premises during any
period falling within the otherwise remainder of the Term. 3. Landlord’s Right to Cure.
Without limiting the generality of the foregoing, if Tenant shall fail to perform any of its
obligations hereunder, Landlord may, in addition to any other rights it may have in law or in
equity, cure such default on behalf of Tenant, and Tenant shall reimburse Landlord upon demand for
any sums paid or costs incurred by Landlord in curing such default, including reasonable attorneys’
fees and other legal expenses, together with interest at a rate of twelve (12%) percent (“Default
Rate”) from the dates of Landlord’s incurring of costs or expenses. 4. Interest on Damage
Amounts. Any sums payable by Tenant hereunder, which are not paid after the same shall be due,
shall bear interest at the Default Rate. 5. No Waiver by Landlord. No delay or
forbearance by Landlord in exercising any right or remedy hereunder, or Landlord’s undertaking or
performing any act or matter which is not expressly required to be undertaken by Landlord shall be
construed, respectively, to be a waiver of Landlord’s rights or to represent any agreement by
Landlord to undertake or perform such act or matter thereafter. Waiver by Landlord of any breach
by Tenant of any covenant or condition herein contained (which waiver shall be effective only if so
expressed in writing by Landlord) or failure by Landlord to exercise any right or remedy in respect
of any such breach shall not constitute a waiver or relinquishment for the future of Landlord’s
right to have any such covenant or condition duly performed or observed by Tenant, or of Landlord’s
rights arising

-12-

 

because of any subsequent breach of any such covenant or condition nor bar any right or remedy
of Landlord in respect of such breach or any subsequent breach.

     In addition to, and not in lieu of any of the foregoing rights granted to Landlord: WHEN THIS
LEASE OR TENANT’S RIGHT OF POSSESSION SHALL BE TERMINATED BY COVENANT OR CONDITION BROKEN, OR FOR
ANY OTHER REASON, EITHER DURING THE TERM OF THIS LEASE OR ANY RENEWAL OR EXTENSION THEREOF, AND
ALSO WHEN AND AS SOON AS THE TERM HEREBY CREATED OR ANY EXTENSION THEREOF SHALL HAVE EXPIRED, IT
SHALL BE LAWFUL FOR ANY ATTORNEY AS ATTORNEY FOR TENANT TO FILE AN AGREEMENT FOR ENTERING IN ANY
COMPETENT COURT AN ACTION TO CONFESS JUDGMENT IN EJECTMENT AGAINST TENANT AND ALL PERSONS CLAIMING
UNDER TENANT, WHEREUPON, IF LANDLORD SO DESIRES, A WRIT OF EXECUTION OR OF POSSESSION MAY ISSUE
FORTHWITH, WITHOUT ANY PRIOR WRIT OF PROCEEDINGS, WHATSOEVER, AND PROVIDED THAT IF FOR ANY REASON
AFTER SUCH ACTION SHALL HAVE BEEN COMMENCED THE SAME SHALL BE DETERMINED AND THE POSSESSION OF THE
PREMISES HEREBY DEMISED REMAIN IN OR BE RESTORED TO TENANT, LANDLORD SHALL HAVE THE RIGHT UPON ANY
SUBSEQUENT DEFAULT OR DEFAULTS, OR UPON THE TERMINATION OF THIS LEASE AS HEREINBEFORE SET FORTH, TO
BRING ONE OR MORE ACTION OR ACTIONS AS HEREINBEFORE SET FORTH TO RECOVER POSSESSION OF THE SAID
PREMISES.

     In any action to confess judgment in ejectment, Landlord shall first cause to be filed in such
action an affidavit made by it or someone acting for it setting forth the facts necessary to
authorize the entry of judgment, of which facts such affidavit shall be conclusive evidence, and if
a true copy of this Lease (and of the truth of the copy such affidavit shall be sufficient
evidence) be filed in such action, it shall not be necessary to file the original as a warrant of
attorney, any rule of Court, custom or practice to the contrary notwithstanding.

     /s/ MH (INITIAL). TENANT WAIVER. TENANT SPECIFICALLY ACKNOWLEDGES THAT TENANT HAS
VOLUNTARILY, KNOWINGLY AND INTELLIGENTLY WAIVED CERTAIN DUE PROCESS RIGHTS TO A PREJUDGMENT HEARING
BY AGREEING TO THE TERMS OF THE FOREGOING PARAGRAPHS REGARDING CONFESSION OF JUDGMENT. TENANT
FURTHER SPECIFICALLY AGREES THAT IN THE EVENT OF DEFAULT, LANDLORD MAY PURSUE MULTIPLE REMEDIES
INCLUDING OBTAINING POSSESSION PURSUANT TO A JUDGMENT BY CONFESSION AND ALSO OBTAINING A MONEY
JUDGMENT FOR PAST DUE AND ACCELERATED AMOUNTS AND EXECUTING UPON SUCH JUDGMENT. IN SUCH EVENT AND
SUBJECT TO THE TERMS SET FORTH HEREIN, LANDLORD SHALL PROVIDE FULL CREDIT TO TENANT FOR ANY MONTHLY
CONSIDERATION WHICH LANDLORD RECEIVES FOR THE LEASED PREMISES IN MITIGATION OF ANY OBLIGATION OF
TENANT TO LANDLORD FOR THAT MONEY. FURTHERMORE, TENANT SPECIFICALLY WAIVES ANY CLAIM AGAINST
LANDLORD AND LANDLORD’S COUNSEL FOR VIOLATION OF TENANT’S CONSTITUTIONAL RIGHTS IN THE EVENT THAT
JUDGMENT IS CONFESSED PURSUANT TO THIS LEASE.

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     19. SURRENDER. Tenant shall, at the expiration of the Term, promptly quit and
surrender the Premises in good order and condition and in conformity with the applicable provisions
of this Lease. Tenant shall have no right to hold over beyond the expiration of the Term and in
the event Tenant fails to deliver possession of the Premises as herein provided, Tenant’s occupancy
shall not be construed to effect or constitute anything other than a tenancy at sufferance. During
any period of occupancy beyond the expiration of the Term the amount of rent owed to Landlord by
Tenant shall automatically extend, at Landlord’s option, for an additional month or year at one
hundred and fifty percent (150%) the sum of the Rent as those sums are at that time calculated
under the provisions of the Lease for the first month and for each additional month at two hundred
percent (200%) the sum of the Rent as those sums are at that time calculated under the provisions
of the Lease. The acceptance of rent by Landlord or the failure or delay of Landlord in notifying
or evicting Tenant following the expiration or sooner termination of the Term shall not create any
tenancy rights in Tenant and any such payments by Tenant may be applied by Landlord against its
costs and expenses, including attorney’s fees, incurred by Landlord as a result of such holdover.

     20. RULES AND REGULATIONS. At all times during the Term, Tenant, its employees,
agents, invitees and licenses shall comply with all rules and regulations specified on Exhibit
“D” attached hereto and made a part hereof, together with all reasonable rules and regulations
as Landlord may from time to time promulgate provided they do not materially increase the financial
burdens of Tenant or take away any rights specifically provided to Tenant in this Lease. In the
event of an inconsistency between the rules and regulations and this Lease, the provisions of this
Lease shall control.

     21. GOVERNMENTAL REGULATIONS. Tenant shall, in the use and occupancy of the Premises
and the conduct of Tenant’s business or profession therein, at all times comply with all applicable
laws, ordinances, orders, notices, rules and regulations of the federal, state and municipal
governments. Landlord shall be responsible for compliance with Title III of the Americans with
Disabilities Act of 1990, 42 U.S.C. §12181 et seq. and its regulations,
(collectively, the “ADA”) (i) as to the design and construction of exterior and interior common
areas (e.g. sidewalks and parking areas) and (ii) with respect to the initial design and
construction by Landlord. Except as set forth above in the initial sentence hereto, Tenant shall
be responsible for compliance with the ADA in all other respects concerning the use and occupancy
of the Premises, which compliance shall include, without limitation (i) provision for full and
equal enjoyment of the goods, services, facilities, privileges, advantages or accommodations of the
Premises as contemplated by and to the extent required by the ADA, (ii) compliance relating to
requirements under the ADA or amendments thereto arising after the date of this Lease and (iii)
compliance relating to the design, layout, renovation, redecorating, refurbishment, alteration, or
improvement to the Premises made or requested by Tenant at any time following completion of the
Landlord’s Work.

     22. NOTICES. Wherever a notice is required, notice shall be deemed to have been duly
given if in writing and either: (i) personally served; (ii) delivered by pre-paid nationally
recognized overnight courier service; (iii) forwarded by Registered or Certified mail, return
receipt requested, postage prepaid; (iv) facsimile with a copy mailed by first class U.S. mail or
(v) e-mailed with evidence of receipt and delivery of a copy of the notice by first class mail; in
all such cases addressed to the parties at the following addresses:

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	Tenant:

	 	QlikTech, Inc.

5400 Trinity Road

Suite 107

Raleigh, NC 27607

Attn: Mr. Rick Pitts

Fax No: (919) 532-1301

E-Mail: Rick.Pitts@qliktech.com	 	 
	 
	 	 	 	 
	Landlord:

	 	Radnor Properties-SDC, L.P. 

401 Plymouth Road, Suite 500

Plymouth Meeting, PA 19462

Attn: David S. Ryder 

Fax No.: 610-325-5622

E-Mail: david.ryder@brandywinerealty.com
	 	Brandywine Realty Trust

401 Plymouth Road, Suite 500

Plymouth Meeting, PA 19462

Attn: Brad A. Molotsky, General Counsel

Fax No.: 610-832-4928

E-Mail: binolotsky@brandywinerealty.com

     Each such notice shall be deemed to have been given to or served upon the party to which
addressed on the date the same is delivered or delivery is refused.

     23. BROKERS. Landlord and Tenant each represents and warrants to the other that such
party has had no dealings, negotiations or consultations with respect to the Premises or this
transaction with any broker or finder other than CB Richard Ellis. Each party shall indemnify and
hold the other harmless from and against all liability, cost and expense, including attorney’s fees
and court costs, arising out of any misrepresentation or breach of warranty under this Article.

     24. LANDLORD’S LIABILITY. Landlord’s obligations hereunder shall be binding upon
Landlord only for the period of time that Landlord is in ownership of the Building; and, upon
termination of that ownership, Tenant, except as to any obligations which are then due and owing,
shall look solely to Landlord’s successor in interest in the Building for the satisfaction of each
and every obligation of Landlord hereunder. Landlord shall have no personal liability under any of
the terms, conditions or covenants of this Lease and Tenant shall look solely to the equity of
Landlord in the Building for the satisfaction of any claim, remedy or cause of action accruing to
Tenant as a result of the breach of any section of this Lease by Landlord. In addition to the
foregoing, no recourse shall be had for an obligation of Landlord hereunder, or for any claim based
thereon or otherwise in respect thereof, against any past, present or future trustee, member,
partner, shareholder, officer, director, partner, agent or employee of Landlord, whether by virtue
of any statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all
such other liability being expressly waived and released by Tenant with respect to the above-named
individuals and entities.

     25. Intentionally Omitted.

     26. MISCELLANEOUS PROVISIONS. (a) Successors. The respective rights and
obligations provided in this Lease shall bind and inure to the benefit of the parties hereto, their
successors and assigns; provided, however, that no rights shall inure to the benefit of any
successors or assigns of Tenant unless Landlord’s written consent for the transfer to such
successor and/or assignee has first been obtained as provided in Article 9 hereof; (b)
Governing

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Law. This Lease shall be construed, governed and enforced in accordance with the laws
of the Commonwealth of Pennsylvania, without regard to principles relating to conflicts of law; (c)
Entire Agreement. This Lease, including the Exhibits and any Riders hereto, supersedes any
prior discussions, proposals, negotiations and discussions between the parties and the Lease
contains all the agreements, conditions, understandings, representations and warranties made
between the parties hereto with respect to the subject matter hereof, and may not be modified
orally or in any manner other than by an agreement in writing signed by both parties hereto or
their respective successors in interest. Without in any way limiting the generality of the
foregoing, this Lease can only be extended pursuant to the terms hereof, with the due exercise of
an option (if any) contained herein pursuant to a written agreement signed by both Landlord and
Tenant specifically extending the term. No negotiations, correspondence by Landlord or offers to
extend the term shall be deemed an extension of the termination date for any period whatsoever; (d)
Time of the Essence. TIME IS OF THE ESSENCE IN ALL PROVISIONS OF THIS LEASE, INCLUDING ALL
NOTICE PROVISIONS TO BE PERFORMED BY OR ON BEHALF OF TENANT; (e) Accord and Satisfaction.
No payment by Tenant or receipt by Landlord of a lesser amount than any payment of Fixed Rent or
Additional Rent herein stipulated shall be deemed to be other than on account of the earliest
stipulated Fixed Rent or Additional Rent due and payable hereunder, nor shall any endorsement or
statement or any check or any letter accompanying any check or payment as Rent be deemed an accord
and satisfaction. Landlord may accept such check or payment without prejudice to Landlord’s right
to recover the balance of such Rent or pursue any other right or remedy provided for in this Lease,
at law or in equity; (f) Force Majeure. If by reason of strikes or other labor disputes,
fire or other casualty (or reasonable delays in adjustment of insurance), accidents, orders or
regulations of any Federal, State, County or Municipal authority, or any other cause beyond
Landlord’s reasonable control, Landlord is unable to furnish or is delayed in furnishing any
utility or service required to be furnished by Landlord under the provisions of this Lease or is
unable to perform or make or is delayed in performing or making any installations, decorations,
repairs, alterations, additions or improvements, or is unable to fulfill or is delayed in
fulfilling any of Landlord’s other obligations under this Lease, no such inability or delay shall
constitute an actual or constructive eviction, in whole or in part, or entitle Tenant to any
abatement or diminution of Fixed Rent, or relieve Tenant from any of its obligations under this
Lease, or impose any liability upon Landlord or its agents, by reason of inconvenience or annoyance
to Tenant, or injury to or interruption of Tenant’s business, or otherwise. (g) Financial
Statements. Tenant shall furnish to Landlord, Landlord’s Mortgagee, prospective Mortgage or
purchaser reasonably requested financial information; provided, however, Tenant shall not be
required to furnish such information more than once per calendar year; (h) Authority.
Tenant represents and warrants that (a) Tenant is duly organized, validly existing and legally
authorized to do business in the Commonwealth of Pennsylvania, and (b) the persons executing this
Lease are duly authorized to execute and deliver this Lease on behalf of Tenant; (i) Attorneys’
Fees. In connection with any litigation arising out of this Lease, the prevailing party,
Landlord or Tenant, shall be entitled to recover all costs incurred, including reasonable
attorneys’ fees.

     27. CONSENT TO JURISDICTION. Tenant hereby consents to the exclusive jurisdiction of
the state courts located in Montgomery and Delaware County and to the federal courts located in the
Eastern District of Pennsylvania.

-16-

 

     28. EARLY TERMINATION. Tenant shall have the right to terminate this Lease at the end
of the 43rd Month of the Term, provided Tenant is (i) not then in default, (ii) has
never been in monetary default during the Term in an amount aggregating in excess of $37,000.00,
(iii) gives Landlord not less than twelve (12) months’ prior written notice, and (iv) pays to
Landlord, by not later than the last day of the 42nd Month, (i) an amount equal to the
unamortized cost of the Landlord’s Work and brokerage commissions amortized over a term of
sixty-seven (67) months together with interest at the rate of ten percent (10%) per annum plus (ii)
the Fixed Rent for Months 44 and 45 of the Term.

     29. RENEWAL. Provided that Tenant is not in default at the time of exercise of this
renewal option, Tenant has never been in monetary default during the Term in an amount aggregating
in excess of $37,000.00, Tenant is fully occupying the Premises and the Lease is in full force and
effect, Tenant shall have the right to renew this Lease for one term of five (5) years beyond the
end of the initial Term (the “Renewal Term”). Tenant shall furnish written notice of intent to
renew twelve (12) months prior to the expiration of the initial Term, failing which, such renewal
right shall be deemed waived; time being of the essence. The terms and conditions of this Lease
during the Renewal Term shall remain unchanged except that the annual Fixed Rent for the Renewal
Term shall be Fair Market Rent (as such term is hereinafter defined) and the Base Year shall be
come the calendar year during which the Renewal Year commences. All factors regarding Additional
Rent shall remain unchanged, and no Tenant Allowance shall be included in the absence of further
agreement by the parties. Anything herein contained to the contrary notwithstanding, Tenant shall
have no right to renew the term hereof other than or beyond the term hereinabove described. It
shall be a condition of such Renewal Term that Landlord and Tenant shall have executed, not less
than eight (8) months prior to the expiration of the then expiring term hereof, an appropriate
amendment to this Lease, in form and content satisfactory to each of them, memorializing the
extension of the term hereof for the Renewal Term.

     For purposes of this Lease, “Fair Market Rent” shall mean the base rent being offered by
landlords to renewal tenants desiring to renew their leases for comparable space in other
comparable buildings in the Radnor, Pennsylvania, market in which the Premises is located, taking
into account any concessions then being offered typically to renewal tenants in comparable space.
In determining the Fair Market Rent, Landlord, Tenant and any appraiser shall take into account
applicable lengths of lease terms, differences in size of the space demised, the location of the
Building and comparable buildings, amenities in the Building and comparable buildings, the ages of
the Building and comparable buildings, differences in base years or stop amounts for operating
expenses and tax escalations and other factors normally taken into account in determining Fair
Market Rent. The Fair Market Rent shall reflect the level of refurbishments to be made by Landlord
to the space, if any, and the Recognized Expenses and Taxes under this Lease. If Landlord and
Tenant cannot agree on the Fair Market Rent, the Fair Market Rent shall be established by the
following procedure: (1) Tenant and Landlord shall agree on a single MAI certified appraiser who
shall have a minimum of ten (10) years experience in real estate leasing in the market in which the
Premises is located and who has not conducted within the previous five (5) years and does not
presently conduct and does not anticipate conducting business in the future with either Tenant or
Landlord, (2) Landlord and Tenant shall each notify the other (but not the appraiser), of its
determination of such Fair Market Rent and the reasons therefor, (3) during the next seven (7) days
both Landlord and Tenant shall prepare a written critique of the

-17-

 

other’s determination and shall deliver it to the other party, (4) on the tenth (10th) day
following delivery of the critiques to each other, Landlord’s and Tenant’s determinations and
critiques (as originally submitted to the other party, with no modifications whatsoever) shall be
submitted to the appraiser, who shall decide whether Landlord’s or Tenant’s determination of Fair
Market Rent is more correct. The determinations so chosen shall be the Fair Market Rent. The
appraiser shall not be empowered to choose any number other than the Landlord’s or Tenant’s. The
fees of the appraiser shall be paid by the non-prevailing party.

-18-

 

     IN WITNESS WHEREOF, the parties hereto have executed this Lease, under Seal, the day and year
first above written.

	 	 	 	 	 
	WITNESS: 	LANDLORD:

RADNOR PROPERTIES-SDC, L.P.

 	 
	 	By:  	Radnor GP-SDC, L.L.C.,
 	 
	 	 	its general partner 	 
	 	 	 
	/s/ Authorized Signatory  
	By:  	/s/ David S. Ryder
 	 
	 	 	Name:  	David S. Ryder 	 
	 	 	Title:  	Senior Vice President 	 
	 
	ATTEST: 	TENANT

QLIKTECH, INC.

 	 
	/s/ Authorized Signatory  
	By:  	/s/ Mans Hultman
 	 
	Name: 	 	Name:  	 	 
	Title:  Secretary 	 	Title:  	 	 
	 

IF THIS LEASE IS NOT SIGNED BY TENANT BY NOVEMBER 8, 2005, IT WILL AUTOMATICALLY BECOME NULL AND
VOID.

-19-

 

EXHIBIT “A”

SPACE PLAN

 

 

[floor plan]

 

 

EXHIBIT “B”

Tenant: QlikTech, Inc.

Premises: 150 Radnor-Chester Road

              
  Radnor, Pennsylvania

Square Footage: 12,266

Suite Number: E220

CONFIRMATION OF LEASE TERM

     THIS MEMORANDUM is made as of the       day of                     , 2006, between RADNOR
PROPERTIES-SDC, L.P., a Delaware limited partnership, with an office at 401 Plymouth Road, Suite
500, Plymouth Meeting, PA 19462 (“Landlord”) and QLIKTECH, INC., with its principal place of
business at                                                           
              
        
(“Tenant”), who entered into a lease dated for reference purposes as of
October      , 2005, covering certain premises located at 150 Radnor-Chester Road, Radnor,
Pennsylvania 19087. All capitalized terms, if not defined herein, shall be defined as they are
defined in the Lease.

     1. The Parties to this Memorandum hereby agree that the date of                         
                ,
2006, is the “Commencement Date” of the Term and the date of
                                        , 2011, is
the expiration date of the Lease.

     2. Tenant hereby confirms the following:

          (a) That it has accepted possession of the Premises pursuant to the terms of the Lease;

          (b) That the improvements, including the Landlord Work, required to be furnished according to
the Lease by Landlord have been substantially completed;

          (c) That Landlord has fulfilled all of its duties of an inducement nature or as otherwise set
forth in the Lease;

          (d) That there are no offsets or credits against rentals, and the $25,000.00 Security Deposit
has been paid as provided in the Lease;

          (e) That there is no default by Landlord or Tenant under the Lease and the Lease is in full
force and effect.

     3. Landlord hereby confirms to Tenant that its Building Number is 597 and its Lease Number is
          . This information must accompany each Rent check or wire payment.

 

 

	 	 	 	 	 
	4. Tenant’s Notice Address is:

	 	Tenant’s Billing Address is:
	 	 
	 
	 	 	 	 
	QlikTech, Inc.

	 	QlikTech, Inc.	 	 
	 
	 	 	 	 
	 

	 	 
	 	 
	 

	 	 
	 	 
	Attn:
 

	 	Attn: 
	 	 
	Phone No.: 

	 	Phone No.: 
	 	 
	Fax No.: 

	 	Fax
No.: 
	 	 
	E-mail: 

	 	E-mail: 
	 	 

     5. This Memorandum, and each and all of the provisions hereof, shall inure to the benefit, or
bind, as the case may require, the parties hereto, and their respective successors and assigns,
subject to the restrictions upon assignment and subletting contained in the Lease.

	 	 	 	 	 
	WITNESS: 	LANDLORD:

RADNOR PROPERTIES-SDC, L.P.

 	 
	 	By:  	Radnor GP-SDC, L.L.C.,
 	 
	 	 	its general partner 	 
	 	 	 
	 
	By:  	
 	 
	 	 	Name:  	David S. Ryder 	 
	 	 	Title:  	Senior Vice President 	 
	 
	ATTEST: 	TENANT

QLIKTECH, INC.

 	 
	 
 	By:  	 	 
	Name: 	 	Name:  	 	 
	Title:  Secretary 	 	Title:  	 	 
	 

-2-

 

EXHIBIT “C”

CLEANING SPECIFICATIONS

OFFICE CLEANING SPECIFICATIONS

DAILY

Empty Trash and Recycle

Remove Spots/Spills from Carpet

Remove Visible Debris/Litter from Carpet

Spot Clean Desks and Tables

Straighten Chair — Furniture

Turn Off Lights

WEEKLY

Dust Desks and Computer Monitors

Vacuum Carpet

Clean Wastebaskets

Clean Light Fixtures and Vents

Clean Telephones

Clean Walls, Switch Plates and Baseboards

Dust File Cabinets, Partitions and Bookshelves

Clean Chairs

Clean Doors

Clean Tables

Dust Pictures and Surfaces Over 5’

Dust Window Sills, Ledges and Radiators

Spot Clean Side Light Glass

RESTROOM CLEANING SPECIFICATIONS

DAILY

Sinks

Floors

Counters

Trash Receptacle

Toilet/Urinals

Dispensers

Door

Spot Clean Walls

Spot Clean Partitions

WEEKLY

Dust Lights

Dust Surfaces Over 5’

Ceiling Vents

 

 

Clean Walls

Clean Partitions

FLOOR CARE SPECIFICATIONS

DAILY

Spot Clean Carpet

MONTHLY

Burnish Polished Surfaces

Machine Scrub Restroom Floors

Scrub and Recoat Copy Room Floors

Scrub and Recoat Kitchenette Floors

ONCE EVERY FOUR MONTHS

Shampoo Conference Room Carpets

YEARLY

Strip and Refinish all vinyl tile

THESE SPECIFICATIONS ARE SUBJECT TO CHANGE WITHOUT NOTICE.

THE COST FOR ANY CLEANING OVER AND ABOVE THE STANDARD CLEANING

SPECIFICATIONS IS TO BE BORNE BY THE TENANT.

-2-

 

EXHIBIT “D”

BUILDING RULES AND REGULATIONS

LAST REVISION: December 17, 2003

     Landlord reserves the right to rescind any of these rules and make such other and further
rules and regulations as in the judgment of Landlord shall from time to time be needed for the
safety, protection, care and cleanliness of the Building, the operations thereof, the preservation
of good order therein and the protection and comfort of its tenants, their agents, employees and
invitees, which rules when made and notice thereof given to Tenant shall be binding upon him, her
or it in a like manner as if originally prescribed.

	 	1.	 	Sidewalks, entrances, passages, elevators, vestibules, stairways, corridors,
halls, lobby and any other part of the Building shall not be obstructed or encumbered
by any Tenant or used for any purpose other than ingress or egress to and from each
tenant’s premises. Landlord shall have the right to control and operate the common
portions of the Building and exterior facilities furnished for common use of the
tenants (such as the eating, smoking, and parking areas) in such a manner as Landlord
deems appropriate.
	 
	 	2.	 	No awnings or other projections shall be attached to the outside walls of the
Building without the prior written consent of Landlord. All drapes, or window blinds,
must be of a quality, type and design, color and attached in a manner approved by
Landlord.
	 
	 	3.	 	No showcases or other articles shall be put in front of or affixed to any part
of the exterior of the Building, or placed in hallways or vestibules without prior
written consent of Landlord.
	 
	 	4.	 	Restrooms and other plumbing fixtures shall not be used for any purposes other
than those for which they were constructed and no debris, rubbish, rags or other
substances shall be thrown therein. Only standard toilet tissue may be flushed in
commodes. All damage resulting from any misuse of these fixtures shall be the
responsibility of the tenant who, or whose employees, agents, visitors, clients, or
licensees shall have caused same.
	 
	 	5.	 	No tenant, without the prior consent of Landlord, shall mark, paint, drill
into, bore, cut or string wires or in any way deface any part of the Premises or the
Building of which they form a part except for the reasonable hanging of decorative or
instructional materials on the walls of the Premises.
	 
	 	6.	 	Tenants shall not construct or maintain, use or operate in any part of the
Building any electrical device, wiring or other apparatus in connection with a loud
speaker system or other sound/communication system which may be heard outside the
Premises. Any such communication system to be installed within the Premises shall
require prior written approval of Landlord.

-3-

 

	 	7.	 	No mopeds, skateboards, scooters or other vehicles and no animals, birds or
other pets of any kind shall be brought into or kept in or about the Building other
than a service animal performing a specified task.
	 
	 	8.	 	No tenant shall cause or permit any unusual or objectionable odors to be
produced upon or permeate from its premises.
	 
	 	9.	 	No space in the Building shall be used for the manufacture of goods for sale in
the ordinary course of business, or for sale at auction of merchandise, goods or
property of any kind.
	 
	 	10.	 	No tenant, or employees of tenant, shall make any unseemly or disturbing noises
or disturb or interfere with the occupants of this or neighboring buildings or
residences by voice, musical instrument, radio, talking machines, or in any way. All
passage through the Building’s hallways, elevators, and main lobby shall be conducted
in a quiet, business-like manner. Skateboarding, rollerblading and rollerskating shall
not be permitted in the Building or in the common areas of the Building.
	 
	 	11.	 	No tenant shall throw anything out of the doors, windows, or down corridors or
stairs of the Building.
	 
	 	12.	 	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 (except for coffee machine, microwave oven, toasters and/or vending
machine), or place or use in or about the Premises or Building any explosives,
gasoline, kerosene oil, acids, caustics or any other flammable, explosive, or hazardous
material without prior written consent of Landlord.
	 
	 	13.	 	No smoking is permitted in the Building, including but not limited to the
Premises, rest rooms, hallways, elevators, stairs, lobby, exit and entrances
vestibules, sidewalks, parking lot area except for the designated exterior smoking
area. All cigarette ashes and butts are to be deposited in the containers provided for
same, and not disposed of on sidewalks, parking lot areas, or toilets within the
Building rest rooms.
	 
	 	14.	 	Tenants are not to install any additional locks or bolts of any kind upon any
door or window of the Building without prior written consent of Landlord. Each tenant
must, upon the termination of tenancy, return to the Landlord all keys for the
Premises, either furnished to or otherwise procured by such tenant, and all security
access cards to the Building.
	 
	 	15.	 	All doors to hallways and corridors shall be kept closed during business hours
except as they may be used for ingress or egress.
	 
	 	16.	 	Tenant shall not use the name of the Building or Landlord in any way in
connection with his business except as the address thereof. Landlord shall also have
the right to prohibit any advertising by tenant, which, in its sole opinion,

-2-

 

	 	 	 	tends to impair the reputation of the Building or its desirability as a building for
offices, and upon written notice from Landlord, tenant shall refrain from or
discontinue such advertising.
	 
	 	17.	 	Tenants must be responsible for all security access cards issued to them, and
to secure the return of same from any employee terminating employment with them. Lost
cards shall cost $35.00 per card to replace. No person/company other than Building
tenants and/or their employees may have security access cards unless Landlord grants
prior written approval.
	 
	 	18.	 	All deliveries by vendors, couriers, clients, employees or visitors to the
Building which involve the use of a hand cart, hand truck, or other heavy equipment or
device must be made via the Freight Elevator, if such Freight Elevator exists in the
Building. Tenant shall be responsible to Landlord for any loss or damage resulting
from any deliveries made by or for tenant to the Building. Tenant shall procure and
deliver a certificate of insurance from tenant’s movers which certificate shall name
Landlord as an additional insured.
	 
	 	19.	 	Landlord reserves the right to inspect all freight to be brought into the
Building, and to exclude from the Building all freight or other material which violates
any of these rules and regulations.
	 
	 	20.	 	Tenant will refer all contractors, contractors’ representatives and
installation technicians, rendering any service on or to the premises for tenant, to
Landlord for Landlord’s approval and supervision before performance of any contractual
service or access to Building. This provision shall apply to all work performed in the
Building including installation of telephones, telegraph equipment, electrical devices
and attachments and installations of any nature affecting floors, walls, woodwork,
trim, windows, ceilings, equipment or any other physical portion of the Building.
Landlord reserves right to require that all agents of contractors/vendors sign in and
out of the Building.
	 
	 	21.	 	Landlord reserves the right to exclude from the Building at all times any
person who is not known or does not properly identify himself to Landlord’s management
or security personnel.
	 
	 	22.	 	Landlord may require, at its sole option, all persons entering the Building
after 6 PM or before 7 AM, Monday through Friday and at any time on Holidays, Saturdays
and Sundays, to register at the time they enter and at the time they leave the
Building.
	 
	 	23.	 	No space within the Building, or in the common areas such as the parking lot,
may be used at any time for the purpose of lodging, sleeping, or for any immoral or
illegal purposes.
	 
	 	24.	 	No employees or invitees of tenant shall use the hallways, stairs, lobby, or
other common areas of the Building as lounging areas during “breaks” or during lunch
periods.

-3-

 

	 	25.	 	No canvassing, soliciting or peddling is permitted in the Building or its
common areas by tenants, their employees, or other persons.
	 
	 	26.	 	No mats, trash, or other objects shall be placed in the public corridors,
hallways, stairs, or other common areas of the Building.
	 
	 	27.	 	Tenant must place all recyclable items of cans, bottles, plastic and office
recyclable paper in appropriate containers provided by Landlord in each tenant’s space.
Removal of these recyclable items will be by Landlord’s janitorial personnel.
	 
	 	28.	 	Landlord does not maintain suite finishes which are non-standard, such as
kitchens, bathrooms, wallpaper, special lights, etc. However, should the need arise
for repair of items not maintained by Landlord, Landlord, at its sole option, may
arrange for the work to be done at tenant’s expense.
	 
	 	29.	 	Drapes installed by tenant, which are visible from the exterior of the
Building, must be cleaned by Tenant, at its own expense, at least once a year.
	 
	 	30.	 	No pictures, signage, advertising, decals, banners, etc. are permitted to be
placed in or on windows in such a manner as they are visible from the exterior, without
the prior written consent of Landlord.
	 
	 	31.	 	Tenant or tenant’s employees are prohibited at any time from eating or drinking
in hallways, elevators, rest rooms, lobby or lobby vestibules.
	 
	 	32.	 	Tenant shall be responsible to Landlord for any acts of vandalism performed in
the Building by its employees, agents, invitees or visitors.
	 
	 	33.	 	No tenant shall permit the visit to its Premises of persons in such numbers or
under such conditions as to interfere with the use and enjoyment of the entrances,
hallways, elevators, lobby or other public portions or facilities of the Building and
exterior common areas by other tenants.
	 
	 	34.	 	Landlord’s employees shall not perform any work or do anything outside of their
regular duties unless under special instructions from Landlord, Requests for such
requirements must be submitted in writing to Landlord.
	 
	 	35.	 	Tenant agrees that neither tenant nor its agents, employees, licensees or
invitees will interfere in any manner with the installation and/or maintenance of the
heating, air conditioning and ventilation facilities and equipment.
	 
	 	36.	 	Landlord will not be responsible for lost or stolen personal property,
equipment, money or jewelry from tenant’s area or common areas of the Building
regardless of whether such loss occurs when area is locked against entry or not.
	 
	 	37.	 	Landlord will not permit entrance to tenant’s Premises by use of pass key
controlled by Landlord, to any person at any time without written permission of

-4-

 

	 	 	 	tenant, except employees, contractors or service personnel supervised or employed by
Landlord.
	 
	 	38.	 	Tenant and its agents, employees and invitees shall observe and comply with the
driving and parking signs and markers on the Building grounds and surrounding areas.
	 
	 	39.	 	Tenant and its employees, invitees, agents, etc. shall not enter other separate
tenants’ hallways, restrooms or premises unless they have received prior approval from
Landlord’s management.
	 
	 	40.	 	Tenant shall not use or permit the use of any portion of the Premises for
outdoor storage.

************

-5-

 

EXHIBIT “B”

Tenant: QlikTech, Inc.

Premises: 150 Radnor-Chester Road, Radnor, Pennsylvania

Square Footage: 12,266

Suite Number: E-220

CONFIRMATION OF LEASE TERM

     THIS MEMORANDUM is made as of the 6th day of March 2006, between Radnor Properties — SDC,
L.P., a Delaware limited partnership, with an office at 401 Plymouth Road, Suite 500, Plymouth
Meeting, PA 19462 (“Landlord”), and Qliktech, Inc. with its principal place of business at 5400
Trinity Road, Suite 107, Raleigh, NC 27607 (“Tenant”), who entered into a lease dated for reference
purposes as of November 15, 2005, covering certain premises located at 150 N. Radnor Chester Road,
Radnor, PA 19087. All capitalized terms, if not defined herein, shall be defined as they are
defined in the Lease.

     1. The Parties to this Memorandum hereby agree that the date of March 1, 2006 is the
“Commencement Date” of the Term, that the date March 1, 2006 is the Rent Commencement Date and the
date September 30, 2011 is the expiration date of the Lease.

     Rent schedule is as follows:

	 	 	 
	03/01/06 — 03/31/06
	 	$0.00 per rentable square foot, plus additional rent
	04/01/06 — 02/28/07
	 	$25.50 per rentable square foot, plus additional rent
	03/01/07 — 02/28/08
	 	$26.00 per rentable square foot, plus additional rent
	03/01/08 — 02/28/09
	 	$26.50 per rentable square foot, plus additional rent
	03/01/09 — 09/30/09
	 	$27.00 per rentable square foot, plus additional rent
	10/01/09 — 10/31/09
	 	$0.00 per rentable square foot, plus additional rent
	11/01/09 — 02/28/10
	 	$27.00 per rentable square foot, plus additional rent
	03/01/10 — 02/28/11
	 	$27.50 per rentable square foot, plus additional rent
	03/01/11 — 09/30/11
	 	$28.00 per rentable square foot, plus additional rent

     2. Tenant hereby confirms the following:

          (a) That it has accepted possession of the Premises pursuant to the terms of the Lease;

          (b) That the improvements, including the Landlord Work, required to be furnished according to
the Lease by Landlord have been Substantially Completed;

          (c) That Landlord has fulfilled all of its duties of an inducement nature or are otherwise set
forth in the Lease;

          (d) That there are no offsets or credits against rentals, and the $25,000 Security deposit has
been paid as provided in the Lease;

          (e) That there is no default by Landlord or Tenant under the Lease and the Lease is in full
force and effect.

     3. Landlord hereby confirms to Tenant that its Building Number is 597 and its Lease Number is
05002. This information must accompany each Rent check or wire payment.

 

 

			
	 	 	 
	Radnor Lease Payments
	 	5/7/2007

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Monthly	 	Fixed
	Month #	 	Date Due	 	RSF	 	Installments	 	Annual Rent
	1
	 	 	3/112006	 	 	 	25.5	 	 	 	0	 	 	 	 	 
	2
	 	 	4/1/2006	 	 	 	25.5	 	 	 	18164.5	 	 	 	217974	 
	3
	 	 	5/1/2006	 	 	 	25.5	 	 	 	18164.5	 	 	 	 	 
	4
	 	 	6/1/2006	 	 	 	25.5	 	 	 	18164.5	 	 	 	 	 
	5
	 	 	7/1/2006	 	 	 	25.5	 	 	 	18164.5	 	 	 	 	 
	6
	 	 	8/1/2006	 	 	 	25.5	 	 	 	18164.5	 	 	 	 	 
	7
	 	 	9/1/2006	 	 	 	25.5	 	 	 	18164.5	 	 	 	 	 
	8
	 	 	10/1/2006	 	 	 	25.5	 	 	 	26065.25	 	 	 	312783	 
	9
	 	 	11/1/2006	 	 	 	25.5	 	 	 	26065.25	 	 	 	 	 
	10
	 	 	12/1/2006	 	 	 	25.5	 	 	 	26065.25	 	 	 	 	 
	11
	 	 	1/1/2007	 	 	 	25.5	 	 	 	26065.26	 	 	 	 	 
	12
	 	 	2/1/2007	 	 	 	25.5	 	 	 	26065.25	 	 	 	 	 
	13
	 	 	3/1/2007	 	 	 	26	 	 	 	26576.33	 	 	 	318916	 
	14
	 	 	4/1/2007	 	 	 	26	 	 	 	26576.33	 	 	 	 	 
	15
	 	 	5/1/2007	 	 	 	26	 	 	 	26576.33	 	 	 	 	 
	16
	 	 	6/1/2007	 	 	 	26	 	 	 	26576.33	 	 	 	 	 
	17
	 	 	7/1/2007	 	 	 	26	 	 	 	26576.33	 	 	 	 	 
	18
	 	 	8/1/2007	 	 	 	26	 	 	 	26576.33	 	 	 	 	 
	19
	 	 	9/1/2007	 	 	 	26	 	 	 	26576.33	 	 	 	 	 
	20
	 	 	10/1/2007	 	 	 	26	 	 	 	26576.33	 	 	 	 	 
	21
	 	 	11/1/2007	 	 	 	26	 	 	 	26576.33	 	 	 	 	 
	22
	 	 	12/1/2007	 	 	 	26	 	 	 	26576.33	 	 	 	 	 
	23
	 	 	1/1/2008	 	 	 	26	 	 	 	26576.33	 	 	 	 	 
	24
	 	 	2/1/2008	 	 	 	26	 	 	 	26576.33	 	 	 	 	 
	25
	 	 	3/1/2008	 	 	 	26.5	 	 	 	27087.42	 	 	 	325049	 
	26
	 	 	4/1/2008	 	 	 	26.5	 	 	 	27087.42	 	 	 	 	 
	27
	 	 	5/1/2008	 	 	 	26.5	 	 	 	27087.42	 	 	 	 	 
	28
	 	 	6/1/2008	 	 	 	26.5	 	 	 	27087.42	 	 	 	 	 
	29
	 	 	7/1/2008	 	 	 	26.5	 	 	 	27087.42	 	 	 	 	 
	30
	 	 	8/1/2008	 	 	 	26.5	 	 	 	27087.42	 	 	 	 	 
	31
	 	 	9/1/2008	 	 	 	26.5	 	 	 	27087.42	 	 	 	 	 
	32
	 	 	10/1/2008	 	 	 	26.5	 	 	 	27087.42	 	 	 	 	 
	33
	 	 	11/1/2008	 	 	 	26.5	 	 	 	27087.42	 	 	 	 	 
	34
	 	 	12/1/2008	 	 	 	26.5	 	 	 	27087.42	 	 	 	 	 
	35
	 	 	1/1/2009	 	 	 	26.5	 	 	 	27087.42	 	 	 	 	 
	36
	 	 	2/1/2009	 	 	 	26.5	 	 	 	27087.42	 	 	 	 	 
	37
	 	 	3/1/2009	 	 	 	27	 	 	 	27598.5	 	 	 	331182	 
	38
	 	 	4/1/2009	 	 	 	27	 	 	 	27598.5	 	 	 	 	 
	39
	 	 	5/1/2009	 	 	 	27	 	 	 	27598.5	 	 	 	 	 
	40
	 	 	6/1/2009	 	 	 	27	 	 	 	27598.5	 	 	 	 	 
	41
	 	 	7/1/2009	 	 	 	27	 	 	 	27598.5	 	 	 	 	 
	42
	 	 	8/1/2009	 	 	 	27	 	 	 	27598.5	 	 	 	 	 

 

 

			
	 	 	 
	Radnor Lease Payments
	 	5/7/2007

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Monthly	 	Fixed
	Month #	 	Date Due	 	RSF	 	Installments	 	Annual Rent
	43
	 	 	9/1/2009	 	 	 	27	 	 	 	27598.5	 	 	 	 	 
	44
	 	 	10/1/2009	 	 	 	0	 	 	 	0	 	 	 	 	 
	45
	 	 	11/1/2009	 	 	 	27	 	 	 	27598.5	 	 	 	 	 
	46
	 	 	12/1/2009	 	 	 	27	 	 	 	27598.5	 	 	 	 	 
	47
	 	 	1/1/2010	 	 	 	27	 	 	 	27598.6	 	 	 	 	 
	48
	 	 	2/1/2010	 	 	 	27	 	 	 	27598.5	 	 	 	 	 
	49
	 	 	3/1/2010	 	 	 	27.5	 	 	 	28109.58	 	 	 	337315	 
	50
	 	 	4/1/2010	 	 	 	27.5	 	 	 	28109.58	 	 	 	 	 
	51
	 	 	5/1/2010	 	 	 	27.5	 	 	 	28109.58	 	 	 	 	 
	52
	 	 	6/1/2010	 	 	 	27.5	 	 	 	28109.58	 	 	 	 	 
	53
	 	 	7/1/2010	 	 	 	27.5	 	 	 	28109.58	 	 	 	 	 
	54
	 	 	8/1/2010	 	 	 	27.5	 	 	 	28109.58	 	 	 	 	 
	55
	 	 	9/1/2010	 	 	 	27.5	 	 	 	28109.58	 	 	 	 	 
	56
	 	 	10/1/2010	 	 	 	27.5	 	 	 	28109.58	 	 	 	 	 
	57
	 	 	11/1/2010	 	 	 	27.5	 	 	 	28109.58	 	 	 	 	 
	58
	 	 	12/1/2010	 	 	 	27.5	 	 	 	28109.58	 	 	 	 	 
	59
	 	 	1/1/2011	 	 	 	27.5	 	 	 	28109.58	 	 	 	 	 
	60
	 	 	2/1/2011	 	 	 	27.5	 	 	 	28109.58	 	 	 	 	 
	61
	 	 	3/1/2011	 	 	 	28	 	 	 	28620.67	 	 	 	343448	 
	62
	 	 	4/1/2011	 	 	 	28	 	 	 	28620.67	 	 	 	 	 
	63
	 	 	5/1/2011	 	 	 	28	 	 	 	28620.67	 	 	 	 	 
	64
	 	 	6/1/2011	 	 	 	28	 	 	 	28620.67	 	 	 	 	 
	65
	 	 	7/1/2011	 	 	 	28	 	 	 	28620.67	 	 	 	 	 
	66
	 	 	8/1/2011	 	 	 	28	 	 	 	28620.67	 	 	 	 	 
	67
	 	 	9/1/2011	 	 	 	28	 	 	 	28620.67exv10w37

Exhibit
10.37

FIRST AMENDMENT TO LEASE

     This First Amendment to Lease (“Amendment”)made and entered into this 13th day of March, 2009,
by and between RADNOR PROPERTIES-SDC, L.P., hereinafter referred to as “Landlord” and QLIKTECH,
INC., hereinafter referred to as “Tenant”.

     WHEREAS, Landlord leased certain premises consisting of 12,266 rentable square feet of space
commonly referred to Suite E220 (“Original Premises”) located at 150 Radnor-Chester Road, Radnor,
Pennsylvania 19087 (“Building”), to Tenant pursuant to that certain Lease dated November 15, 2005,
hereinafter referred to as “Lease,” the Premises being more particularly described therein; and

     WHEREAS, Tenant desires to expand the size of the Premises by adding an additional 5,064
rentable square feet (“RSF”) of space under the Lease;

     WHEREAS, Landlord and Tenant wish to amend the Lease as follows;

     NOW, THEREFORE, in consideration of these present and the agreement of each other, Landlord
and Tenant agree that the Lease shall be and the same is hereby amended as follows:

     1. Incorporation of Recitals. The recitals set forth above, the Lease referred to
therein and the exhibits attached hereto are hereby incorporated herein by reference as if set
forth in full in the body of this Amendment. Capitalized terms not otherwise defined herein shall
have the meanings given to them in the Lease.

     2. Lease of Additional Premises.

          (a) The Lease is hereby amended to provide that Landlord hereby demises and lets unto Tenant,
and Tenant hereby leases and hires from Landlord, all that certain space on the second floor of the
Building containing approximately 5,064 RSF of space (the “Additional Premises”), as shown on
Exhibit “A” and made a part hereof. The term of the Lease for the Additional Premises
shall commence upon the later of (i) March 15, 2009, and (ii) substantial completion of the
Landlord’s Work (as defined in subparagraph (b) hereof) (“Additional Premises Commencement Date”).
The Additional Premises shall be deemed substantially completed when the Landlord’s Work has been
completed to the extent that the Additional Premises may be occupied by Tenant for its Permitted
Uses, subject only to completion of minor finishing, adjustment of equipment, and other minor
construction aspects, and Landlord has procured a temporary or permanent certificate of occupancy
permitting the occupancy of the Premises. It is the mutual intention of Landlord and Tenant that
the Additional Premises shall be leased to and occupied by Tenant on and subject to all of the
terms, covenants and conditions of the Lease except as otherwise expressly provided to the contrary
in this Amendment, and to that end Landlord and Tenant hereby agree that from and after the
Additional Premises Commencement Date the word “Premises”, as defined in the Lease, shall mean and
include both the Original Premises and the Additional Premises, containing a total of 17,330 RSF,
unless the context otherwise requires.

          (b) Landlord shall construct and do such other work in the Additional Premises (collectively,
the “Landlord’s Work”) in substantial conformity with the plans and outline specifications of the
plan, SK-1, prepared by Polek Schwartz Architects dated November 18, 2009, which
have been initialed by the parties, and which are herein incorporated by reference. If any
material revision or supplement to Landlord’s Work is deemed necessary by Landlord, those revisions
and supplements shall be submitted to Tenant for approval, which approval shall not be unreasonably
withheld or delayed. If Landlord shall be delayed in such “substantial completion” as a result of
(i) Tenant’s failure to furnish plans, specifications or other reasonably requested information for
the furtherance of Landlord’s Work within five (5) business days following Landlord’s written
request to Tenant for the same; (ii) Tenant’s request for materials, finishes or installations
other than Landlord’s standard; (iii) Tenant’s changes in said plans; (iv) the performance or
completion of any work, labor or services by a party employed by Tenant; or (v) Tenant’s failure to
approve final plans, working drawings or reflective ceiling plans within five (5) business days
following Landlord’s written request to Tenant for the same (each, a “Tenant’s Delay”); then the
Additional Premises Commencement Date and the payment of Fixed Rent hereunder shall be accelerated
by the number of days of such delay . If any change, revision or supplement to the scope of the
Landlord’s Work is requested by Tenant then such increased costs associated with such change,
revision or supplement shall be paid by Tenant upfront and such occurrence shall not change the
Additional Premises Commencement Date of the Term and shall not alter Tenant’s obligations under
this Lease. Notwithstanding anything to the contrary stated in Article 2(a) above, the
Term shall commence on the date the Additional Premises would have been delivered to Tenant but for
Tenant’s Delay or Tenant’s change order. Landlord’s Work constitutes an Alteration under
Article 8 of the Lease. Notwithstanding anything to the contrary contained herein, if the
entire Tenant Allowance is not spent by Tenant on Landlord’s Work, the balance may be spent by
Tenant for furniture, fixtures, or equipment.

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          (c) From and after the Additional Premises Commencement Date, Tenant’s Share shall be 5.10%.

          (d) The Additional Premises Commencement Date shall be confirmed by Landlord and Tenant by the
execution of a Confirmation of Lease Term in the form attached hereto as Exhibit “B”. If
Tenant fails to execute or object to the Confirmation of Lease Term within ten (10) business days
of its delivery, Landlord’s determination of such dates shall be deemed accepted.

     3. Term: The Lease Term for the Additional Premises shall commence the Additional
Premises Commencement Date and terminate on September 30, 2011, coterminously with the Lease.

     4. Fixed Rent:

          (a) From and after the Additional Premises Commencement Date (“APCD”), Tenant shall pay to
Landlord Fixed Rent for the Additional Premises (5,064 RSF) as follows:

	 	 	 	 	 	 	 	 	 	 	 	 	 
	TIME	 	PER	 	MONTHLY	 	ANNUAL
	PERIOD	 	RSF	 	INSTALLMENT	 	FIXED RENT
	APCD-02/28/10
	 	$	27.00	*	 	$	11,394.00	 	 	$	136,728.00	 
	03/01/10-02/28/11
	 	$	27.50	*	 	$	11,605.00	 	 	$	139,260.00	 
	03/01/11-09/30/11
	 	$	28.00	*	 	$	11,816.00	 	 	$	141,792.00	 

 

			
	* 	 	Plus costs associated with Article 4 and Article 5 of the Lease.

          (b) Notwithstanding anything in the Lease to the contrary, Tenant shall pay to Landlord
without notice or demand, and without set-off, except as set forth in this Lease, the annual Fixed
Rent payable in the monthly installments of Fixed Rent as set forth above, in advance on the first
day of each calendar month during the Term by Term by (i) check sent to Landlord, P.O. Box
8538-363, Philadelphia, PA 19171 or (ii) wire transfer of immediately available funds to the
account at Wachovia Bank, Salem NJ account no. 2030000359075 ABA #031201467; such transfer to be
confirmed by Landlord’s accounting department upon written request by Tenant. All payments must
include the following information: Building #590 and Lease #          . Such numbers shall be provided
by Landlord within a reasonable time following execution of this Amendment.

     5. Notice Addresses: All notices under the Lease shall be sent to Landlord at the
following address:

	 	 	 
	 

	 	with a copy to
	 
	 	 
	Brandywine Operating Partnership, L.P.

	 	Brandywine Realty Trust
	555 East Lancaster Avenue, Suite 100

	 	555 East Lancaster Avenue, Suite 100
	Radnor, PA 19087

	 	Radnor, PA 19087
	Attn: H. Jeffrey DeVuono, Senior Vice President

	 	Attn: Brad A. Molotsky, General Counsel
	Phone No.: 610-325-5600

	 	Phone No.: 610-325-5600
	Fax No.: 610-325-5622

	 	Fax. No.: 610-832-4928
	E-Mail:
jeff.devuono@bdnreit.com

	 	E-Mail:
brad.molotsky@bdnreit.com

     6. Early Termination. Article 28 of the Lease is hereafter null and void and
of further force or effect.

     7. OFAC/Patriot Act Compliance. Tenant represents, warrants and covenants that Tenant
is not (i) listed on the Specially Designated Nationals and Blocked Persons List maintained by the
Office of Foreign Asset Control, Department of the Treasury (“OFAC”) pursuant to Executive Order
No. 13224, 66 Fed. Reg. 49079 (Sept. 25, 2001) (“Order”) and all applicable provisions of Title /II
of the USA Patriot Act (Public Law No. 107-56 (October 26,2001)); (II) listed on the Denied Persons
List and Entity List maintained by the United States Department of Commerce; (iii) listed on the
List of Terrorists and List of Disbarred Parties maintained by the United States Department of
State, (iv) listed on any list or qualification of “Designated Nationals” as defined in the Cuban
Assets Control Regulations 31 C.F.R. Part 515; (v) listed on any other publicly available list of
terrorists, terrorist organizations or narcotics traffickers maintained by the United States
Department of State, the United States Department of Commerce or any other governmental authority
or pursuant to the Order, the rules and regulations of OFAC (including without limitation the
Trading with the Enemy Act, 50 U.S.C. App. 1-44; the International Emergency Economic Powers Act,
50 U.S.C. §§ 1701-06; the unrepealed provision of the Iraq Sanctions Act, Publ.L. No. 101-513; the
United Nations

2

 

Participation Act, 22 U.S.C. § 2349 as-9; The Cuban Democracy Act, 22 U.S.C. §§ 6001-10; The
Cuban Liberty and Democratic Solidarity Act, 18 U.S.C. §§ 2332d and 233; and The Foreign Narcotic
Kingpin Designation Act, Publ. L. No. 106-120 and 107-108, all as may be amended from time to
time); or any other applicable requirements contained in any enabling legislation or other
Executive Orders in respect of the Order (the Order and such other rules, regulations, legislation
or orders are collectively called the “Orders”); (vi) engaged in activities prohibited in the
Orders; or (vii) (and has not been) convicted, pleaded nolo contendere, indicted, arraigned or
custodially detained on charges involving money laundering or predicate crimes to money laundering,
drug trafficking, terrorist-related activities or other money laundering predicate crimes or in
connection with the Bank Secrecy Act (31 U.S.C. §§ 5311 et. seq.). Tenant further represents,
warrants and covenants that Tenant shall conduct its business operations in compliance with the
forgoing laws, rules, orders and regulations. Tenant hereby agrees to defend, indemnify, and hold
harmless Landlord from and against any and all claims, damages, losses, risks, liabilities, and
expenses (including attorney’s fees and costs) arising from or related to any breach of the
foregoing representations, warranties and covenants. The breach of either of the above
representations, warranties and covenants by Tenant shall be an Event of Default under this Lease.

     8. Tenant Representations: Tenant hereby confirms that (i) the Lease is in full force
and effect and Tenant is in possession of the Original Premises; (ii) Landlord has performed all
outstanding Tenant Improvements and Landlord’s Work obligations, except as provided in Article
2(b) above; (iii) Tenant has no knowledge of any defaults by Landlord under the Lease.

     9. Brokerage Commission. Landlord and Tenant mutually represent and warrant to each
other that they have not dealt, and will not deal, with any real estate broker or sales
representative in connection with this proposed transaction. Each party agrees to indemnify,
defend and hold harmless the other and their directors, officers and employees from and against all
threatened or asserted claims, liabilities, costs and damages (including reasonable attorney’s fees
and disbursements) which may occur as a result of a breach of this representation.

     10. Binding Effect. Except as expressly amended hereby, the Lease remains in full
force and effect in accordance with its terms. Tenant specifically acknowledges and agrees that
Article 18 of the Lease concerning Confession of Judgment is and shall remain in
full force and effect In accordance with its terms.

     11. Condition Precedent. This Amendment shall not become effective against Landlord
until Landlord successfully terminates the lease for the existing tenant of the Additional
Premises. In the event Landlord has not successfully terminated the existing tenant within
thirty (30) days following execution of this Amendment, Tenant shall have the option of terminating
this Amendment without penalty by written notice delivered to Landlord.

(SIGNATURES ON NEXT PAGE)

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     IN WITNESS WHEREOF, Landlord and Tenant have duly executed this agreement on the date first above

	 	 	 	 	 
	 	LANDLORD:

RADNOR PROPERTIES-SDC, L.P.
 	 
	 	By:  	Radnor GP-SDC, L.L.C., its general partner

 	 
	WITNESS: 
	 	 	 
	/S/ Authorized Signatory  
	By:  	/S/  Daniel Palazzo
 	 
	 	 	Name:  	DANIEL PALAZZO 	 
	 	 	Title:  	VICE PRESIDENT — ASSET MANAGER 	 
	 
	 	TENANT:

QLIKTECH, INC.

 	 
	 	By:  	/S/  William Sorenson
 	 
	 	 	Name:  	William Sorenson 	 
	 	 	Title:  	CFO 	 
	 

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