Document:

Employment Agreement

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
 EMPLOYMENT AGREEMENT
(“Agreement”) dated as of December 4, 2012, by and between DCT Industrial Trust Inc. with its principal place of business at 518 17th Street, Suite 800, Denver, Colorado 80202 (the “Company”), and Jeffrey F. Phelan, residing at the address
set forth on the signature page hereof (the “Executive”). 
 WHEREAS, the Company and the Executive were parties to an
employment agreement made and entered into on March 31, 2010 (the “Prior Employment Agreement”); 
 WHEREAS, the
Company wishes to continue to employ the Executive, and the Executive wishes to accept such offer, on the terms set forth below; and 
 WHEREAS, the Company and the Executive, and/or their affiliates, are also parties to the Exclusivity Agreement (the “Exclusivity Agreement”), dated as of March 31, 2010. 

Accordingly, the parties hereto agree as follows: 
 1.     Term. The Company hereby employs the Executive, and the Executive hereby accepts such employment, for a term commencing on January 1, 2013 and continuing
through October 9, 2015, unless sooner terminated in accordance with the provisions of Section 4 or Section 5 (the period during which the Executive is employed hereunder being hereinafter referred to as the “Term”).

 2.     Duties. During the Term, the Executive shall be employed by the Company as President
of the Company, and, as such, the Executive shall faithfully perform for the Company the duties of such office and shall perform such other duties of an executive, managerial or administrative nature, which are consistent with such office, as shall
be specified and designated from time to time by the Board of Directors of the Company (the “Board”) or the Chief Executive Officer. The Executive shall devote substantially all of his business time and effort to the performance of his
duties hereunder; provided, however, that the Executive may (i) engage in civic or charitable activities and (ii) engage in activities relating to (a) the potential development or sale of the Development Parcels (as defined in that
certain Exclusivity Agreement, dated as of the date hereof, by and between the Company, the Executive and the other parties thereto (the “Exclusivity Agreement”)) in compliance with the terms of the Exclusivity Agreement, (b) the
Executive’s interests in the Panattoni Ventures (as defined in the Exclusivity Agreement), and (c) the management of the Existing Assets (as defined in the Exclusivity Agreement), provided that in the of case of both (i) and
(ii) above such activities do not interfere with the Executive’s performance of his duties hereunder or violate this Agreement. Notwithstanding anything in this Agreement to the contrary, no provision in this Agreement is intended to
prohibit or restrict the Executive from participation in any ownership or development activity or transaction which is permitted under the Exclusivity Agreement. 

 3.     Compensation. 

3.1     Salary. The Company shall pay the Executive during the Term an initial salary at the rate of
$400,000 per annum (the “Annual Salary”), in accordance with the customary payroll practices of the Company applicable to senior executives (but, in no event, less frequently than monthly). The Board, or committee thereof, may provide for
such increases in the Annual Salary as it may in its discretion deem appropriate; provided that in no event shall the Annual Salary be decreased. 
 3.2     Bonus. During the Term, in addition to the Annual Salary, for each fiscal year of the Company ending during the Term, the Executive shall be eligible to receive an
annual cash bonus. The target annual cash bonus for each fiscal year of the Company ending during the Term shall be at least equal to $300,000; provided that the amount of the actual cash bonus paid (which may be more or less than the target amount)
shall be determined by the Company, in its sole discretion, based on such factors relating to the performance of the Executive or the Company as it deems relevant. Each cash bonus payment under this Section 3.2 shall be made in a single lump
sum within two and one-half (2 1/2) months
following the end of the fiscal year of the Company in which such bonus is earned. By way of illustration (but not limitation) of the manner in which the preceding sentence operates, if the Executive earns a bonus for fiscal year 2013, then the cash
bonus payment must be paid in a single lump sum between January 1, 2014 and March 15, 2014. 

3.3     Long-Term Incentive Awards. During the Term, in addition to the Annual Salary and cash bonus, the
Executive shall be eligible to receive annual equity awards under the Company’s Second Amended and Restated 2006 Long-Term Incentive Plan (as amended and supplemented from time to time, the “LTIP”) or other equity-based plan as in
effect from time to time that is materially comparable in the aggregate to the LTIP. The target value of the annual equity awards for each fiscal year of the Company ending during the Term shall be at least equal to $450,000; provided that the value
of the actual equity awards granted (which may be more or less than the target value) shall be determined by the Company, in its sole discretion, based on such factors relating to the performance of the Executive or the Company as it deems relevant.
Grants of annual equity awards under this Section 3.3 shall be made within two and one-half (2 1/2) months following the end of the fiscal year of the Company to which such awards relate. Annual equity awards granted shall vest in
equal annual installments over no more than five years, and the vesting period for any grant made during the Term will begin on January 1 of the year in which such grant is made. Any grants which are financially equivalent to restricted stock
(e.g. restricted stock units or phantom units), other than those that remain subject to performance-based vesting hurdles, shall be accompanied by the grant of dividend equivalent rights. The Executive shall also be eligible to participate in any
multi-year equity award programs established by the Company for senior executives. The Company will have the right to determine, in its sole discretion, the terms of any such programs or the Executive’s award thereunder. 

3.4     Initial Equity Grant. As of the first day of the Term, the Executive shall receive under the LTIP
a number of shares of common stock of the Company (or equivalent full-value awards, such as LTIP Units in DCT Industrial Operating Partnership LP) equal to $400,000 divided by the closing price of the common stock of the Company on the New York

  
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Stock Exchange on such day. Such shares (or equivalent full-value awards) shall vest 25% on the day immediately preceding the third anniversary of the first day of the Term, an additional 25%
shall vest on the day immediately preceding the fourth anniversary of the first day of the Term, and the remaining 50% shall vest on the day immediately preceding the fifth anniversary of the first day of the Term, and will otherwise be subject to
the terms of the LTIP and the definitive documentation governing the grant. All of such shares (or equivalent full-value awards) will be accompanied by the grant of dividend equivalent rights (which, in the case of LTIP Units, will be in the form of
distributions from the DCT Industrial Operating Partnership LP) that will entitle the Executive to current payment of dividend equivalents as long as such shares or equivalent full-value awards are outstanding regardless of whether such shares or
equivalent full-value awards are vested. 
 3.5     Benefits—In General. Except with
respect to benefits of a type otherwise provided for under Section 3.6, the Executive shall be entitled during the Term to participate in any group life, hospitalization or disability insurance plans, health programs, retirement plans, fringe
benefit programs and similar benefits that are available to other senior executives of the Company generally, on the same terms as such other executives, in each case to the extent that the Executive is eligible under the terms of such plans or
programs. 
 3.6     Specific Benefits. Without limiting the generality of Section 3.5, the
Company shall make available to the Executive vacation of four weeks per year which vacation days may accrue subject to the Company policy regarding vacation accruals. 
 3.7     Expenses. The Company shall pay or reimburse the Executive for all ordinary and reasonable out-of-pocket expenses actually incurred (and, in the case of
reimbursement, paid) by the Executive during the Term in the performance of the Executive’s services under this Agreement (including, without limitation, with respect to use of a mobile phone, use of a blackberry, and entertainment costs);
provided that the Executive submits reasonable proof of such expenses within the period provided by the Company for expense reimbursements to its senior executives generally, with the properly completed forms as prescribed from time to time by the
Company. In addition, the Executive shall be entitled to reasonable reimbursement for travel, according to the Company’s policy (which provides for coach class airfare and reimbursement for upgrades). 

3.8     Indemnification and Directors and Officers Liability Insurance. The Executive shall be
indemnified, and shall have his legal expenses in connection with regulatory or other legal proceedings advanced to him, by the Company in connection with his performance of services hereunder, if and as applicable, on terms and conditions no less
favorable to the Executive than those that apply to any other senior executives of the Company. The Company shall cause the Executive to be covered by directors and officers liability insurance with such coverage to be no less favorable to him than
the coverage then being provided to any other senior executive of the Company. 

3.9     Limitations on Severance Payments. 

(a)     Anything in this Agreement to the contrary notwithstanding, in the event that the amount of any
compensation, payment or distribution by the Company to or for the 

  
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benefit of Executive, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise (the “Severance Payments”), calculated in a manner
consistent with Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”) and the applicable regulations thereunder (or any successor provision) would be subject to the excise tax imposed by Section 4999 of the
Code (or any successor provision), then the Severance Payments shall be reduced (but not below zero) so that the sum of all Severance Payments shall be $1.00 less than the amount at which Executive becomes subject to the excise tax imposed by
Section 4999 of the Code (or any successor provision); provided that such reduction shall only occur if it would result in Executive receiving a higher After Tax Amount (as defined below) than Executive would receive if the Severance Payments
were not subject to such reduction. In the event the Severance Payments are reduced pursuant to this Section 3.9(a), they shall be reduced in the following order: (1) cash payments not subject to Section 409A of the Code;
(2) cash payments subject to Section 409A of the Code; (3) equity-based payments and acceleration; and (4) non-cash forms of benefits. To the extent any payment is to be made over time (e.g., in installments, etc.), then the
payments shall be reduced in reverse chronological order. 
 (b)     For purposes of
Section 3.9(a), the “After Tax Amount” means the amount of the Severance Payments less all federal, state, and local income, excise and employment taxes imposed on Executive as a result of Executive’s receipt of the Severance
Payments. For purposes of determining the After Tax Amount, Executive shall be deemed to pay federal income taxes at the highest marginal rate of federal income taxation applicable to individuals for the calendar year in which the determination is
to be made, and state and local income taxes at the highest marginal rates of individual taxation in the state and locality of Executive’s residence on the date of termination, net of the maximum reduction in federal income taxes which could be
obtained from deduction of such state and local taxes. 
 (c)     The determination as to whether a
reduction in the Severance Payments shall be made pursuant to Section 3.9(a) shall be made by a nationally recognized accounting firm selected by the Company (the “Accounting Firm”), which shall provide detailed supporting
calculations both to the Company and Executive within 15 business days of the date of termination, if applicable, or at such earlier time as is reasonably requested by the Company or Executive. Any determination by the Accounting Firm shall be
binding upon the Company and Executive. 
 3.10     Timing of Expense Reimbursement. All in-kind
benefits provided and expenses eligible for reimbursement under this Agreement must be provided by the Company or incurred by the Executive during the time periods set forth in the Agreement. All reimbursements shall be paid as soon as
administratively practicable, but in no event shall any reimbursement be paid after the last day of the taxable year following the taxable year in which the expense was incurred. The amount of in-kind benefits provided or reimbursable expenses
incurred in one taxable year shall not affect the in-kind benefits to be provided or the expenses eligible for reimbursement in any other taxable year. Such right to reimbursement or in-kind benefits is not subject to liquidation or exchange for
another benefit. 
 4.     Termination upon Death or Disability. If the Executive dies during
the Term, the Term shall terminate as of the date of death, and the obligations of the Company under this Agreement to or with respect to the Executive shall terminate in their entirety upon such date

  
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except as otherwise provided under this Section 4. If the Executive becomes disabled by virtue of ill health or other disability and is unable to perform substantially and continuously the
duties assigned to him for more than 180 consecutive or non-consecutive days out of any consecutive 12-month period in the reasonable opinion of a qualified physician chosen by the Company and reasonably acceptable to the Executive (the foregoing
circumstance being referred to below as a “Disability”), the Company shall have the right, to the extent permitted by law, to terminate the employment of the Executive upon notice in writing to the Executive. Upon termination of employment
due to death or Disability during the Term, (i) the Executive (or the Executive’s estate or beneficiaries in the case of the death of the Executive) shall be entitled to receive any Annual Salary, bonus and other benefits earned and
accrued under this Agreement prior to the date of termination (and reimbursement under this Agreement for expenses incurred prior to the date of termination), (ii) the Executive (or the Executive’s estate or beneficiaries in the case of
the death of the Executive) shall be entitled to receive (A) a cash payment equal to (I) the target bonus for the year of termination multiplied by (II) a fraction (x) the numerator of which is the number of days in the year up to the
termination and (y) the denominator of which is 365, and (B) elimination of any exclusively time-based vesting conditions (but not performance conditions, which shall remain in effect subject to the terms thereof) on any restricted stock,
stock options and other equity awards; provided that, in the event of termination of employment due to Disability, the Executive will only be entitled to receive the payment and accelerated vesting set forth in this clause (ii) if the Executive
executes and delivers to the Company a general release in a form reasonably acceptable to the Company, which does not require the release of any payment rights under this Section 4 or under Section 3.8, within thirty (30) days
following such termination and such release becomes irrevocable at the earliest possible time under applicable law following such execution and delivery, (iii) Section 3.8 shall apply in accordance with its terms and (iv) the
Executive (or, in the case of his death, his estate and beneficiaries) shall have no further rights to any other compensation or benefits hereunder on or after the termination of employment, or any other rights hereunder. By way of illustration (but
not limitation) of the manner in which clause (ii)(B) of the preceding sentence operates, if the Executive were to hold an equity award with a five-year performance-based vesting condition, where the Executive would also need to remain employed
during such period, and the Executive’s employment were to terminate in the fourth year of the vesting period due to his death or Disability, then, so long as the performance measures are met at the end of the five-year performance period, the
Executive or his estate would be entitled to payments as though he had remained employed (and, if the performance measures are not met at the end of the five-year performance period, the award is thereupon forfeited). 

Any payments that the Executive is entitled to receive pursuant to clause (i) of the third sentence of this Section 4 shall be
made by the Company in a single lump sum within five (5) days after termination of employment due to death or Disability. Any payment or acceleration of vesting that the Executive is entitled to receive pursuant to clause (ii) of the third
sentence of this Section 4 shall be made by the Company in a single lump sum or occur, respectively, upon the 45th day after termination of employment due to death or Disability. 

  
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 5.     Certain Terminations of Employment. 

5.1     Termination by the Company for Cause; Termination by the Executive without Good Reason.

 (a)     For purposes of this Agreement, “Cause” shall mean the Executive’s:

 (i)     conviction of a felony (other than a traffic violation), a crime of moral
turpitude, or any financial crime involving the Company; a willful act of dishonesty, breach of trust or unethical business conduct in connection with the business of the Company that has a material detrimental impact on the Company; 

(ii)     commission of fraud, misappropriation or embezzlement against the Company; any act or
omission in the performance of his duties hereunder that constitutes willful misconduct, willful neglect or gross neglect, in any such case if such action or omission is either material or repeated; 

(iii)     repeated failure to use reasonable efforts in all material respects to adhere to the
directions of the Board or the Chief Executive Officer, or the Company’s policies and practices, after his being informed that he is not so adhering; 
 (iv)     willful failure to substantially perform his duties properly assigned to him (other than any such failure resulting from his Disability); 

(v)     breach of any of the provisions of Section 6 or breach of the Exclusivity Agreement
by the Executive of any of his affiliates party thereto; 
 (vi)     pursuit (or Phelan
Development Co.’s pursuit) of a Panattoni Transaction (as defined in the Exclusivity Agreement) that the Company determines would result in an unacceptable direct or indirect conflict of interest, as determined in its reasonable discretion; or

 (vii)     breach in any material respect of the terms and provisions of this
Agreement and failure to cure such breach within ten days following written notice from the Company specifying such breach; provided that the Company shall not be permitted to terminate the Executive for Cause except on written notice given to the
Executive at any time following the occurrence of any of the events described in clause (i), (ii) or (v) above and on written notice given to the Executive at any time not more than 30 days following the occurrence of any of the events
described in clause (iii), (iv), (vi) above or this clause (vii) (or, if later, the Company’s knowledge thereof). 
 (b)     The Company may terminate the Executive’s employment hereunder for Cause, and the Executive may terminate his employment hereunder for any or no reason on at least 30
days’ and not more than 60 days’ written notice given to the Company. If the Company terminates the Executive for Cause during the Term, or if the Executive terminates his employment during the Term and the termination by the Executive is
not covered by Section 5.2, 

  
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then (i) the Executive shall be entitled to receive any Annual Salary and other benefits earned and accrued under this Agreement prior to the date of termination of employment (and
reimbursement under this Agreement for expenses incurred prior to the date of termination of employment); (ii) Section 3.8 shall apply in accordance with its terms; and (iii) the Executive shall have no further rights to any other
compensation or benefits hereunder on or after the termination of employment, or any other rights hereunder. 

5.2     Termination by the Company without Cause; Termination by the Executive for Good Reason.

 (a)     For purposes of this Agreement, “Good Reason” shall mean, unless otherwise
consented to in writing by the Executive, 
 (i)     the material reduction of the
Executive’s authority, duties and responsibilities, or the assignment to the Executive of duties materially inconsistent with the Executive’s position or positions with the Company as specified in Section 2; 

(ii)     a reduction in the Annual Salary of the Executive, or a reduction in the target bonus or
target LTIP award applicable to the Executive (except for a material reduction in target bonus or target LTIP award that is part of a Company program to reduce “general and administrative” expenses due to business conditions which
reduction is applied to other senior officers generally; provided that such reduction is before the occurrence of a Change in Control (as defined below)); 
 (iii)     the relocation of the Executive’s office to more than 30 miles from Newport Beach, California; or 

(iv)     any material breach by the Company of any provision of this Agreement. 

Notwithstanding the foregoing, (i) Good Reason (A) shall not be deemed to exist unless the Executive gives to the Company a written notice
identifying the event or condition purportedly giving rise to Good Reason expressly referencing this Section 5.2(a) within 45 days after the time at which the event or condition first occurs or arises (or, if later, was discovered or
should have been discovered by the Executive) and (B) shall not be deemed to exist at any time at which there exists an event or condition which could serve as the basis of a termination of the Executive’s employment for Cause; and
(ii) if there exists (without regard to the following clause (ii)(A)) an event or condition that constitutes Good Reason, (A) the Company shall have 45 days from the date notice of Good Reason is given to cure such event or condition and,
if the Company does so, such event or condition shall not constitute Good Reason hereunder; and (B) if the Company does not cure such event or condition within such 45-day period, the Executive shall have one business day thereafter to give the
Company notice of termination of employment on account thereof (specifying a termination date no later than 10 days from the date of such notice of termination). If the 45 days noted in clause (ii)(A) above extends beyond the Term, then the Term for
purposes of Section 5.2(b) and 5.2(c) shall be extended until the earlier of (i) the date on which the Company cures such event or condition or (ii) the first business day following the end of such 45-day period. 

  
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 (b)     The Company may terminate the
Executive’s employment at any time for any reason or no reason upon notice to the Executive and the Executive may terminate the Executive’s employment with the Company for Good Reason upon notice to the Company. If the Company terminates
the Executive’s employment and the termination is not covered by Section 4 or 5.1, or the Executive terminates his employment for Good Reason, and such termination occurs either during the Term or within 12 months after a Change in Control
(as defined in Section 5.3) that occurs at any time during or after the Term (a “Qualified Termination”), (i) the Company shall pay to the Executive Annual Salary, bonus and other benefits earned and accrued under this Agreement
prior to the termination of employment (and reimbursement under this Agreement for expenses incurred prior to the termination of employment); (ii) the Company shall pay to the Executive a cash payment equal to (A) the target bonus for the
year of termination multiplied by (B) a fraction (I) the numerator of which is the number of days in the year up to the termination and (II) the denominator of which is 365, (iii) Section 3.8 shall apply in accordance with its
terms and (iv) except as provided in Section 5.2(c), the Executive shall have no further rights to any other compensation or benefits hereunder on or after the termination of employment, or any other rights hereunder; provided that the
Executive will only be entitled to receive the payment set forth in clause (ii) if the Executive executes and delivers to the Company a general release in a form reasonably acceptable to the Company, which does not require the release of any
payment rights under this Section 5.2(b) or under Section 3.8 or 5.2(c), within thirty (30) days following such termination and such release becomes irrevocable at the earliest possible time under applicable law following such
execution and delivery. The payments under clause (i) of the second sentence of this Section 5.2(b) shall be made in a single lump sum within five business days after termination. Any payment that the Executive is entitled to receive
pursuant to clause (ii) of the second sentence of this Section 5.2(b) shall be made by the Company in a single lump sum upon the 45th day after such termination. 
 (c)     Upon a Qualified Termination (other than a Qualified Termination occurring within 12 months after a Change of Control), the Executive may offer to enter into a consulting
agreement with the Company in the form set forth in Exhibit A attached hereto (the “Consulting Agreement”) by signing and returning a completed version of the Consulting Agreement to the Company by 5:00 p.m., Mountain Time, on or
before the fifth business day following his termination (the “Acceptance Deadline”). If the Executive signs and returns the Consulting Agreement by the Acceptance Deadline, then the Company will then have five business days to either
countersign the Consulting Agreement or reject the Executive’s offer to enter into the Consulting Agreement; provided that the failure of the Company to countersign the Consulting Agreement within such five business day period will be deemed to
be a rejection of the Executive’s offer to enter into the Consulting Agreement. If the Company countersigns the Consulting Agreement, then, except as provided in Section 5.2(b), the Executive shall have no further rights to any other
compensation or benefits hereunder on or after the termination of employment, or any other rights hereunder. If the Company rejects (or is deemed to have rejected) the Executive’s offer to enter into the Consulting Agreement or the Qualified
Termination occurred within 12 months after a Change of Control, then (i) the Company shall pay or provide to the Executive (A) one times (or, in the event of a termination within 12 months

  
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after a Change of Control, two times) Annual Salary, (B) one times (or, in the event of a termination within 12 months after a Change of Control, two times) the greater of (x) the
target bonus for the year of termination and (y) the average of the actual bonuses for the two years (with respect to which bonuses are determined) prior to the year of termination, (C) for a period of 18 months after termination of
employment, such continuing coverage under the group health plans the Executive would have received under this Agreement (and at such costs to the Executive) as would have applied in the absence of such termination (but not taking into account any
post-termination increases in Annual Salary that may otherwise have occurred without regard to such termination and that may have favorably affected such benefits), and (D) a cash payment equal to the cost to the Company of providing the
Executive six months of coverage under the group health plans based on the rates paid by the Company immediately prior to the termination of the Executive’s employment with the Company; (ii) the Executive shall be entitled to elimination
of any exclusively time-based vesting conditions (but not performance conditions, which shall remain in effect subject to the terms thereof) on any grant under the LTIP or any other grant of restricted stock, stock options or other equity awards;
and (iii) except as provided in Section 5.2(b), the Executive shall have no further rights to any other compensation or benefits hereunder on or after the termination of employment, or any other rights hereunder; provided that the
Executive will only be entitled to receive the payments, benefits and accelerated vesting set forth in clauses (i) and (ii) if the Executive executes and delivers to the Company a general release in a form reasonably acceptable to the
Company, which does not require the release of any payment rights under this Section 5.2(c) or under Section 3.8 or 5.2(b), within thirty (30) days following the such termination and such release becomes irrevocable at the
earliest possible time under applicable law following such execution and delivery. Any payment or acceleration of vesting that the Executive is entitled to receive pursuant to clause (i) or (ii) of the fifth sentence of this
Section 5.2(c) shall be made by the Company in a single lump sum or occur, respectively, upon the
15th business day after the one year anniversary of
termination. 
 (d)     Notwithstanding clause (i)(C) of the fifth sentence of Section 5.2(c),
(i) nothing herein shall restrict the ability of the Company to amend or terminate the plans and programs referred to in such clause (i)(C) from time to time in its sole discretion, and (ii) the Company shall in no event be required to
provide any benefits otherwise required by such clause (i)(C) after such time as the Executive becomes entitled to receive benefits of the same type from another employer or recipient of the Executive’s services (such entitlement being
determined without regard to any individual waivers or other similar arrangements). Additionally, in the event that any unvested equity awards (or portion thereof) made by the Company to the Executive would, in the absence of this Agreement and, if
entered into, the Consulting Agreement, terminate or be forfeited as a result of a Qualified Termination, then such equity awards shall only terminate or be forfeited upon the later of (i) the date upon which it is determined that the vesting
conditions of such equity awards will not be eliminated pursuant to this Section 5.2(c) of this Agreement or, if entered into, the Consulting Agreement or (ii) the date otherwise provided for in such equity awards; provided that the
period during which a stock option or similar equity award may be exercised shall not be extended beyond the maximum period (assuming the Executive continued as an employee of the Company) provided for in such equity award and no additional vesting
shall occur solely as a result of the operation of this sentence. 

  
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 5.3     Change in Control. Without duplication of the
foregoing, upon a Change in Control (as defined below) at any time during or after the Term while the Executive is employed, then, without limiting the payments and benefits to which the Executive may be entitled under Section 5.2 in accordance
with its terms (but without duplication thereof), all outstanding unvested grants under the LTIP or any other grant of restricted stock, stock options or other equity awards subject to time-based vesting conditions (but not performance-based
conditions, which shall remain in effect subject to the terms thereof) shall fully vest and shall become immediately exercisable, as applicable. For purposes of this Agreement, “Change in Control” shall mean the happening of any of the
following: 
 (i)     any “person,” including a “group” (as such
terms are used in Sections 13(d) and 14(d) of the Securities and Exchange Act of 1934 (the “Exchange Act”), but excluding the Company, any entity controlling, controlled by or under common control with the Company, any trustee, fiduciary
or other person or entity holding securities under any employee benefit plan or trust of the Company or any such entity, and the Executive and any “group” (as such term is used in Section 13(d)(3) of the Exchange Act) of which the
Executive is a member), is or becomes the “beneficial owner” (as defined in Rule 13(d)(3) under the Exchange Act), directly or indirectly, of securities of the Company representing 30% or more of either (A) the combined voting power
of the Company’s then outstanding securities or (B) the then outstanding shares of common stock of the Company (in either such case other than as a result of an acquisition of securities directly from the Company); or 

(ii)     any consolidation or merger of the Company resulting in the voting securities of the
Company outstanding immediately prior to the consolidation or merger representing (either by remaining outstanding or by being converted into voting securities of the surviving entity or its parent) less than 50% of the combined voting power of the
securities of the surviving entity or its parent outstanding immediately after such consolidation or merger; or 

(iii)     there shall occur (A) any sale, lease, exchange or other transfer (in one
transaction or a series of transactions contemplated or arranged by any party as a single plan) of all or substantially all of the assets of the Company, other than a sale or disposition by the Company of all or substantially all of the
Company’s assets to an entity, at least 50% of the combined voting power of the voting securities of which are owned by “persons” (as defined above) in substantially the same proportion as their ownership of the Company immediately
prior to such sale or (B) the approval by shareholders of the Company of any plan or proposal for the liquidation or dissolution of the Company; or 
 (iv)     the members of the Board at the beginning of any consecutive 24-calendar-month period (the “Incumbent Directors”) cease for any reason other than due to death
to constitute at least a majority of the members of the Board; provided that any director whose election, or nomination for election by the Company’s shareholders, was approved or ratified by a vote of at least a majority of the Incumbent
Directors shall be deemed to be an Incumbent Director. 

  
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 5.4     Section 409A. 

(a)     Anything in this Agreement to the contrary notwithstanding, if at the time of the Executive’s
separation from service within the meaning of Section 409A of the Code, the Company determines that the Executive is a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code, then to the extent any
payment or benefit that the Executive becomes entitled to under this Agreement on account of the Executive’s separation from service would be considered deferred compensation subject to the 20 percent additional tax imposed pursuant to
Section 409A(a) of the Code as a result of the application of Section 409A(a)(2)(B)(i) of the Code, such payment shall not be payable and such benefit shall not be provided until the date that is the earlier of (A) six
months and one day after the Executive’s separation from service, or (B) the Executive’s death. If any such delayed cash payment is otherwise payable on an installment basis, the first payment shall include a catch-up payment covering
amounts that would otherwise have been paid during the six-month period but for the application of this provision, and the balance of the installments shall be payable in accordance with their original schedule. Any payments delayed pursuant to this
Section 5.4(a) shall bear interest during the period of such delay at a rate of interest equal to the short-term applicable federal rate for annually compounding obligations for purposes of Section 1274(d) of the Code, or any
successor provision, for the month in which such payment otherwise would have been paid. 
 (b)     The
parties intend that this Agreement will be administered in accordance with Section 409A of the Code. To the extent that any provision of this Agreement is ambiguous as to its compliance with Section 409A of the Code, the provision shall be
read in such a manner so that all payments hereunder comply with Section 409A of the Code. The parties agree that this Agreement may be amended, as reasonably requested by either party, and as may be necessary to fully comply with
Section 409A of the Code and all related rules and regulations in order to preserve the payments and benefits provided hereunder without additional cost to either party. 
 (c)     To the extent that any payment or benefit described in this Agreement constitutes “non-qualified deferred compensation” under Section 409A of the Code, and
to the extent that such payment or benefit is payable upon the Executive’s termination of employment, then such payments or benefits shall be payable only upon the Executive’s “separation from service.” The determination of
whether and when a separation from service has occurred shall be made in accordance with the presumptions set forth in Treasury Regulation Section 1.409A-1(h). 
 (d)     The Company makes no representation or warranty and shall have no liability to the Executive or any other person if any provisions of this Agreement are determined to
constitute deferred compensation subject to Section 409A of the Code but do not satisfy an exemption from, or the conditions of, such Section. 
 6.     Covenants of the Executive. 

6.1     Covenant Against Competition; Other Covenants. The Executive acknowledges that (i) the
principal business of the Company (which, for purposes of this Section 6 (and any related enforcement provisions hereof), expressly includes its successors and assigns), is any commercial activity comprising any one or more of the ownership,
acquisition, 

  
 11 

 
development or management of industrial real estate (the “Business”); (ii) the Company is one of the limited number of persons who have developed such a business; (iii) the
Company’s Business is currently national in scope within both the United States and Mexico; (iv) the Executive’s work for the Company will give him access to the confidential affairs and proprietary information of the Company;
(v) the covenants and agreements of the Executive contained in this Section 6 are essential to the business and goodwill of the Company; and (vi) the Company would not have entered into this Agreement but for the covenants and
agreements set forth in this Section 6. Accordingly, the Executive covenants and agrees that: 

(a)     By and in consideration of the salary and benefits to be provided by the Company hereunder and further
in consideration of the Executive’s exposure to the proprietary information of the Company, the Executive covenants and agrees that, during the period commencing on the date hereof and (except as provided below) ending on the date upon which
the Executive shall cease to be an employee of the Company and its Controlled Affiliates (as defined below), he shall not in the United States, or, if and to the extent that the Business is Actively Conducted (as defined below) outside of the United
States, in the applicable non-U.S. locations, directly or indirectly, (i) engage in any element of the Business (other than for the Company or its Controlled Affiliates), (ii) render any services to any person, corporation, partnership or
other entity (other than the Company or its Controlled Affiliates) engaged in any element of the Business, or (iii) become interested in any such person, corporation, partnership or other entity (other than the Company or its Controlled
Affiliates) as a partner, member, manager, shareholder, principal, agent, employee, trustee, consultant or any person engaged in the Business, or in any other relationship or capacity; provided, however, that, notwithstanding the foregoing, the
Executive may own or acquire or otherwise invest in, directly or indirectly, securities of any entity, solely for investment purposes and without participating in the business thereof, if (A) such securities are traded on any national
securities exchange or in the over-the-counter market, (B) the Executive is not a controlling person of, or a member of a group which controls, such entity and (C) the Executive does not, directly or indirectly, own 5% or more of any class
of securities of such entity. “Actively Conducted” shall mean that the Company actually owns or manages industrial real estate in the specified location, or has entered into a binding agreement, or a letter of intent, a term sheet, an
agreement in principle, or any similar non-binding agreement (which non-binding agreement has not been terminated or expired of its own terms), to purchase or manage industrial real estate in the specified location. “Controlled Affiliates”
shall mean any and all entities that the Company directly or indirectly controls; provided that, if after the date hereof there is a reorganization of the Company and a new holding company is established thereover, which controls the Company, then
“Controlled Affiliates” shall also include such holding company and any affiliates that are controlled by the new parent. 
 (b)     During and after the Term, the Executive shall keep secret and retain in strictest confidence, and shall not use for his benefit or the benefit of others, except in
connection with the business and affairs of the Company and its Controlled Affiliates, all confidential matters relating to the Company’s Business and the business of any of its Controlled Affiliates and to the Company and any of its Controlled
Affiliates, learned by the Executive heretofore or hereafter directly or indirectly from the Company or any of its Controlled Affiliates, including, without limitation, information with respect to (i) sources and non-public methods of raising
capital, (ii) non-public information related to joint ventures, institutional funds and the partners or other investors therein, and (iii) any other material, non-public information (the “Confidential

  
 12 

 
Company Information”); and shall not disclose such Confidential Company Information to anyone outside of the Company except (w) with the Company’s express written consent,
(x) Confidential Company Information which is at the time of receipt or thereafter becomes publicly known through no wrongful act of the Executive or is received from a third party not under an obligation to keep such information confidential
and without breach of this Agreement, (y) as required by law or legal process (provided that the Executive shall give the Company reasonable prior written notice of disclosure under this clause (y)), and (z) for disclosures to counsel in
the context of seeking legal advice where counsel agrees, for the benefit of the Company, to be bound by the restrictions of this sentence. 
 (c)     From the date hereof through the end of the one-year period commencing with the Executive’s termination of employment, the Executive shall not, without the
Company’s prior written consent, directly or indirectly (i) solicit or encourage to leave the employment or other service of the Company, or any of its Controlled Affiliates, any employee or independent contractor of the Company where the
independent contractor performs (or in the prior year has performed) a substantial portion of his services for the Company (provided that this clause (i) shall not apply to Sharon Adams after the date that is 90 days after Executive’s
termination of employment), or (ii) publish any statement or make any statement under circumstances reasonably likely to become public that is critical of the Company or any of its Controlled Affiliates, or in any way adversely affecting or
otherwise maligning the Business or reputation of the Company or any of its Controlled Affiliates (provided that nothing in this sentence is intended to prevent the Executive from including in his pleadings or from his testimony any truthful matter
to the extent necessary to defend against any claim by the Company or a third party against the Executive, or to prosecute any claim against the Company for a breach of this Agreement). 

(d)     All memoranda, notes, lists, records, property and any other tangible product and documents (and all
copies thereof), whether visually perceptible, machine-readable or otherwise, made, produced or compiled by the Executive or made available to the Executive concerning the business of the Company or its Controlled Affiliates, (i) shall at all
times be the property of the Company (and, as applicable, any Controlled Affiliates) and shall be delivered to the Company at any time upon its request, and (ii) upon the Executive’s termination of employment, shall be immediately returned
to the Company. 
 (e)     During and after the Executive’s employment, the Executive shall
cooperate reasonably with the Company in the defense or assertion of any claims or actions now in existence or which may be brought in the future against or on behalf of the Company which relate to events or occurrences that transpired while the
Executive was employed by the Company, other than any such claims or actions which may be brought in the future against the Company by the Executive. The Executive’s cooperation in connection with such claims or actions shall include, but not
be limited to, being available to meet with counsel to prepare for discovery or trial and to act as a witness on behalf of the Company at mutually convenient times. During and after the Executive’s employment, the Executive also shall cooperate
reasonably with the Company in connection with any investigation or review of any federal, state or local regulatory authority as any such investigation or review relates to events or occurrences that transpired while the Executive was employed by
the Company. The Company shall not utilize this Section 6.1(e) to require the Executive to make himself available to an extent that would 

  
 13 

 
unreasonably interfere with full-time employment responsibilities that the Executive may have. The Company shall reimburse the Executive for any pre-approved reasonable out of pocket expenses
incurred in connection with the Executive’s performance of obligations pursuant to this Section 6.1(e) within ten business days after receipt of appropriate documentation consistent with the Company’s business expense reimbursement
policy. In addition, for all time that the Executive reasonably expends at the request of the Company in cooperating with the Company or any of its affiliates pursuant to this Section 6.1(e) where the Executive is no longer employed by the
Company, the Company shall compensate the Executive at a per hour rate equal to the sum of (A) Annual Salary in the Executive’s last fiscal year of employment during the Term plus (B) the Executive’s actual annual cash bonus for
the last fiscal year of employment during the Term for which such a bonus was determined, divided by 2,000; provided that the Executive’s right to such compensation shall not apply to time spent in activities that could have been compelled
pursuant to a subpoena, including testimony and related attendance at depositions, hearings or trials. All such compensation will be paid on a monthly, or, at the option of the Company, more frequent basis, within ten business days after receipt of
a detailed invoice, in a form reasonably satisfactory to the Company, documenting the time spent by the Executive cooperating with the Company. 
 6.2     Rights and Remedies upon Breach. The Executive acknowledges and agrees that any breach by him of any of the provisions of Section 6.1 (the “Restrictive
Covenants”) would result in irreparable injury and damage for which money damages would not provide an adequate remedy. Therefore, if the Executive breaches, or threatens to commit a breach of, any of the provisions of Section 6.1, the
Company and its Controlled Affiliates shall have, in addition to, and not in lieu of, any other rights and remedies available to the Company and its Controlled Affiliates under law or in equity (including, without limitation, the recovery of
damages), the right and remedy to have the Restrictive Covenants specifically enforced (without posting bond and without the need to prove damages), including, without limitation, the right to restraining orders and injunctions (preliminary,
mandatory, temporary and permanent) against violations, threatened or actual, and whether or not then continuing, of such covenants. 
 7.     Other Provisions. 

7.1     Severability. The Executive acknowledges and agrees that (i) he has had an opportunity to
seek advice of counsel in connection with this Agreement and (ii) the Restrictive Covenants are reasonable in geographical and temporal scope and in all other respects. If it is determined that any of the provisions of this Agreement,
including, without limitation, any of the Restrictive Covenants, or any part thereof, is invalid or unenforceable, the remainder of the provisions of this Agreement shall not thereby be affected and shall be given full effect, without regard to the
invalid portions. 
 7.2     Duration and Scope of Covenants. If any court or other
decision-maker of competent jurisdiction determines that any of the Executive’s covenants contained in this Agreement, including, without limitation, any of the Restrictive Covenants, or any part thereof, is unenforceable because of the
duration or geographical scope of such provision, then, after such determination has become final and unappealable, the duration or scope of such provision, as the case may be, shall be reduced so that such provision becomes enforceable and, in its
reduced form, such provision shall then be enforceable and shall be enforced. 

  
 14 

 7.3     Arbitration. Any controversy or claim arising out of
or relating to this Agreement or the breach of this Agreement that is not resolved by the Executive and the Company (or its Controlled Affiliates, where applicable) shall be submitted to arbitration in Newport Beach, California in accordance with
California law and the procedures of the American Arbitration Association before a single arbitrator. The determination of the arbitrator shall be conclusive and binding on the Company (or its Controlled Affiliates, where applicable) and the
Executive and judgment may be entered on the arbitrator’s award in any court having jurisdiction. The Company shall bear all of the costs of any arbitration; each party will bear its own attorney’s fees and costs. 

7.4     Notices. Any notice or other communication required or permitted hereunder shall be in writing
and shall be delivered personally, telegraphed, telexed, sent by facsimile transmission or sent by certified, registered or express mail, postage prepaid. Any such notice shall be deemed given when so delivered personally, telegraphed, telexed or
sent by facsimile transmission or, if mailed, five days after the date of deposit in the United States mails as follows: 
  

					
	 If to the Company, to:
	  	 DCT Industrial Trust Inc.
 518 17th
Street, Suite 800
 Denver, Colorado 80202
 Attention: Chief Executive Officer or General

                 Counsel

Facsimile: (303) 228-2201

			
	 with a copy to:
	  	 Goodwin Procter LLP
 53 State
Street
 Boston, MA 02109
 Attention:
Daniel P. Adams
 Facsimile: (617) 523-1231
	  	
		
	 If to the Executive, to:
	  	 Jeffrey F. Phelan

at the address set forth on the signature page hereof

			
	 with a copy to:
	  	 Dzida, Carey & Steinman

3 Park Plaza, Suite 750
 Irvine, CA
92614
 Attention: Steven J. Dzida

Facsimile: (949) 399-0361
	  	

 Any such person may by notice given in accordance with this Section 7.4 to the other parties hereto designate
another address or person for receipt by such person of notices hereunder. 
 7.5     Entire
Agreement. This Agreement contains the entire agreement of the parties regarding the subject matter hereof and supersedes all prior agreements, understandings and negotiations regarding the same. For the avoidance of doubt, the Prior Employment
Agreement is hereby superseded including, but not limited to, Section 7.12 thereto. 

7.6     Waivers and Amendments. This Agreement may be amended, superseded, canceled, renewed or extended,
and the terms hereof may be waived, only by a written instrument signed by the parties or, in the case of a waiver, by the party waiving compliance. No delay on the part of any party in exercising any

  
 15 

 
right, power or privilege hereunder shall operate as a waiver thereof, nor shall any waiver on the part of any party of any such right, power or privilege nor any single or partial exercise of
any such right, power or privilege, preclude any other or further exercise thereof or the exercise of any other such right, power or privilege. 
 7.7     GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA WITHOUT REGARD TO ANY PRINCIPLES OF
CONFLICTS OF LAW WHICH COULD CAUSE THE APPLICATION OF THE LAWS OF ANY JURISDICTION OTHER THAN THE STATE OF CALIFORNIA. 

7.8     Assignment. This Agreement, and the Executive’s rights and obligations hereunder, may not be
assigned by the Executive; any purported assignment by the Executive in violation hereof shall be null and void. This Agreement, and the Company’s rights and obligations hereunder, may not be assigned by the Company; any purported assignment by
the Company in violation hereof shall be null and void. Notwithstanding the foregoing, (i) in the event of any sale, transfer or other disposition of all or substantially all of the Company’s assets or business, whether by merger,
consolidation or otherwise, the Company may assign this Agreement and its rights hereunder, and (ii) the Company may assign the Agreement to its Controlled Affiliates so long as the Executive’s title is not reduced and the Executive’s
role in respect of the affiliated group taken as a whole is not materially adversely affected. 

7.9     Withholding. The Company shall be entitled to withhold from any payments or deemed payments any
amount of tax withholding it determines to be required by law. 
 7.10     Binding Effect. This
Agreement shall be binding upon and inure to the benefit of the parties and their respective successors, permitted assigns, heirs, executors and legal representatives. 
 7.11     Counterparts. This Agreement may be executed by the parties hereto in separate counterparts, each of which when so executed and delivered shall be an original but
all such counterparts together shall constitute one and the same instrument. Each counterpart may consist of two copies hereof each signed by one of the parties hereto. 
 7.12     Survival. Anything contained in this Agreement to the contrary notwithstanding, the provisions of Sections 4, 5, 6, 7.3, and 7.9, and the other provisions of this
Section 7 (to the extent necessary to effectuate the survival of Sections 4, 5, 6, 7.3, and 7.9), shall survive termination of this Agreement and any termination of the Executive’s employment hereunder. 

7.13     Existing Agreements. The Executive represents to the Company that he is not subject or a party
to any employment or consulting agreement, non-competition covenant or other agreement, covenant or understanding which might prohibit him from executing this Agreement or limit his ability to fulfill his responsibilities hereunder. 

7.14     Headings. The headings in this Agreement are for reference only and shall not affect the
interpretation of this Agreement. 
 [Remainder of page intentionally left blank] 

  
 16 

 IN WITNESS WHEREOF, the parties hereto have signed their names as of the day and year first
above written. 
  

					
	 COMPANY:

DCT INDUSTRIAL TRUST INC.

			
	By:	 	/s/	 	 Philip L. Hawkins
	Name:    Philip L. Hawkins
	Title:    Chief Executive Officer
	
	EXECUTIVE:
	
	/s/ Jeffrey F. Phelan
	Jeffrey F. Phelan

 EXHIBIT A 

CONSULTING AGREEMENT 
 This Consulting Agreement (this “Agreement”) is entered into as of the date of the last party to sign below by and between DCT Industrial Trust Inc., its successors or assigns (the
“Company”), and Jeffrey F. Phelan (“Consultant”). The Company desires to retain Consultant as an independent contractor to perform consulting services for the Company, and Consultant is willing to perform such
services, on the terms described below. Reference is hereby made to that certain employment agreement by and between the Company and Consultant, dated December 4, 2012 (the “Employment Agreement”). In consideration of the
mutual promises contained herein, the parties agree as follows: 

1.     Term. The term of this Agreement will begin upon the 10th business day following termination of Consultant’s employment
with the Company and will continue for a period of one year, unless sooner terminated in accordance with the provisions of Section 4 (the period during which this Agreement is in effect being hereinafter referred to as the
“Term”). 
 2.     Services and Compensation. 

2.1     Services. Consultant will consult with and advise the Company on matters and/or perform services
relating to his former position as President of the Company (the “Services”) as requested by the Company for up to 10 hours per month during the Term. 

2.2     Fees. For Consultant’s performance in accordance with the terms and
conditions of this Agreement, the Company agrees to pay Consultant an annual fee equal to 5% of the sum of (a) Consultant’s annual salary at the Company immediately prior to the termination of his employment with the Company plus
(b) the greater of (x) Consultant’s target bonus at the Company for the year in which his termination of employment occurred and (y) the average of Consultant’s actual bonuses for the two years (with respect to which bonuses
are determined) prior to the year in which his termination of employment occurred (the sum of such amounts being the “Annual Full-Time Consulting Rate”). The annual fee payable to Consultant pursuant to this Agreement shall be
payable in 12 equal monthly installments within thirty days after each monthly period, with the first monthly period running from the day of the month on which this Agreement is entered into through the previous day of the next month (e.g.,
15th of first month through 14th of next month). 

2.3     Benefits. Subject to the following sentence and except as set forth in Section 4.2, during
the Term and thereafter until the date that is 18 months following termination of Consultant’s employment with the Company, Consultant shall be entitled to such continuing coverage under the group health plans as Consultant would have received
under the Employment Agreement (and at such costs to Consultant) as would have applied in the absence of his termination of employment under the Employment Agreement (but not 

  
 A-1

 
taking into account any post-termination increases in annual salary that may otherwise have occurred without regard to such termination and that may have favorably affected such benefits).
Notwithstanding the foregoing, (i) nothing herein shall restrict the ability of the Company to amend or terminate the group health plans referred to above from time to time in its sole discretion, and (ii) the Company shall in no event be
required to provide the benefits required by this Section after such time as Consultant becomes entitled to receive benefits of the same type from another employer or recipient of Consultant’s services (such entitlement being determined without
regard to any individual waivers or other similar arrangements). 
 2.4     Bonus. 

(a)     The Company will pay or provide to Consultant the following bonus if, and only if, Consultant fully
performs all of his obligations under this Agreement and, except as provided otherwise in Sections 4.1 and 4.3 hereof, the Term is not terminated prior to the end of the initial one-year term: (i) the Company shall pay or provide to Consultant
a cash payment equal to the Annual Full-Time Consulting Rate; (ii) the Company shall pay or provide to Consultant a cash payment equal to the cost to the Company of providing Consultant six months of coverage under the group health plans based
on the rates paid by the Company immediately prior to the termination of Consultant’s employment with the Company; and (iii) Consultant shall be entitled to elimination of any exclusively time-based vesting conditions (but not performance
conditions, which shall remain in effect subject to the terms thereof) that apply to any equity awards granted by the Company (or its subsidiaries) to Consultant, whether before or after the Effective Date, that remain outstanding (including
pursuant to the operation of Section 2.4(c) below) (the “Equity Awards”). Any payment or acceleration of vesting that Consultant is entitled to receive pursuant to clauses (i), (ii) and (iii) above shall be made
by the Company in a single lump sum or occur, respectively, upon the fifth business day following the one year anniversary of the start of the Term. 
 (b)     The parties hereto acknowledge that the bonus described in Section 2.4(a) is being provided in order to incentivize Consultant to fully perform all of his
obligations under this Agreement and, except as provided otherwise in Sections 4.1 and 4.3, such bonus will only be earned on the last day of the Term if Consultant has fully performed all of his obligations under this Agreement during the full
one-year term of this Agreement and the Term has not been terminated prior to the end of such one-year period. Except as provided otherwise in Sections 4.1 and 4.3, Consultant will not earn, and will not be entitled to, any pro-rated or other
portion of this bonus if Consultant only partially performs his obligations hereunder or terminates this Agreement prior to the end of the initial one-year term. 
 (c)     In the event that any unvested Equity Awards (or portion thereof) made by the Company to Consultant would, in the absence of this Agreement, terminate or be forfeited as a
result of the termination of Consultant’s employment with the Company occurring on or before the Effective Date, then such Equity Awards shall only terminate or be forfeited upon the later of (i) the date upon which it is determined that
the vesting conditions of such equity awards will not be eliminated pursuant to Section 2.4(a) of this Agreement or 

  
 A-2

 
(ii) the date otherwise provided for in such Equity Awards and the other agreements applicable thereto (including the Employment Agreement); provided that the period during which a stock
option or similar equity award may be exercised shall not be extended beyond the maximum period (assuming Consultant continued as an employee of the Company) provided for in such equity award and no additional vesting shall occur solely as a result
of the operation of this sentence. 
 3.     Release under Prior Employment Agreement.
Consultant will execute and deliver to the Company a general release in a form reasonably acceptable to the Company relating to his employment with the Company, which does not require the release of any payment rights under Sections 3.8 or
5.2(b) or (c) of the Employment Agreement or under this Agreement, within thirty (30) days following the termination of his employment with the Company and Consultant will not take any action that would cause such release to fail to
become irrevocable at the earliest possible time under applicable law following such execution and delivery. 

4.     Certain Terminations of this Agreement. 

4.1     Termination upon Death or Disability. If Consultant dies during the Term, the Term shall
terminate as of the date of death, and the obligations of the Company under this Agreement to or with respect to Consultant shall terminate in their entirety upon such date except as otherwise provided under this Section 4.1. If Consultant
becomes disabled by virtue of ill health or other disability and is unable to perform substantially and continuously the duties assigned to him for more than 180 consecutive or non-consecutive days during the Term in the reasonable opinion of a
qualified physician chosen by the Company and reasonably acceptable to Consultant (the foregoing circumstance being referred to below as a “Disability”), the Company shall have the right, to the extent permitted by law, to terminate
this Agreement upon notice in writing to Consultant. Upon termination of this Agreement due to death or Disability during the Term, (i) Consultant (or Consultant’s estate or beneficiaries in the case of the death of Consultant) shall be
entitled to receive any fees earned and accrued under this Agreement prior to the date of termination; (ii) Consultant (or Consultant’s estate or beneficiaries in the case of the death of Consultant) shall be entitled to receive the bonus
set forth in Section 2.4(a) above; (iii) Consultant shall be entitled to the benefits set forth in Section 2.3 above; and (iv) Consultant (or, in the case of his death, his estate and beneficiaries) shall have no further
rights to any other compensation or benefits hereunder on or after the termination of this Agreement, or any other rights hereunder. 
 Any payments that Consultant is entitled to receive pursuant to clause (i) of the third sentence of this Section 4.1 shall be made by the Company in a single lump sum within five
(5) business days after termination of this Agreement due to death or Disability. Any payments or acceleration of vesting that Consultant is entitled to receive pursuant to clause (ii) of the third sentence of this Section 4.1 shall
be made by the Company in a single lump sum or occur, respectively, at the time set forth in Section 2.4(a) above. 

  
 A-3

 4.2     Termination by the Company for Cause; Termination by
Consultant without Good Reason. 
 (a)     For purposes of this Agreement, “Cause”
shall mean the Consultant’s: 
  

	 	 (i)	conviction of a felony (other than a traffic violation), a crime of moral turpitude, or any financial crime involving the Company; a willful act of dishonesty, breach
of trust or unethical business conduct in connection with the business of the Company that has a material detrimental impact on the Company; 

  

	 	 (ii)	the commission of fraud, misappropriation or embezzlement against the Company; any act or omission in the performance of his duties hereunder that constitutes willful
misconduct, willful neglect or gross neglect, in any such case if such action or omission is either material or repeated; 

  

	 	 (iii)	breach of any of the provisions of Section 5; 

  

	 	 (iv)	failure of Consultant to execute and deliver a general release in accordance with Section 3 hereof or the failure of such release to become irrevocable at the
earliest possible time under applicable law following such execution and delivery; or 

  

	 	 (v)	breach in any material respect of the terms and provisions of this Agreement and failure to cure such breach within ten days following written notice from the Company
specifying such breach; provided that the Company shall not be permitted to terminate this Agreement for Cause pursuant to this clause (v) except on written notice given to the Consultant at any time not more than 30 days following the
occurrence of any of the events described in clause (v) (or, if later, the Company’s knowledge thereof). 

 (b)     The Company may terminate this Agreement for Cause and Consultant may terminate this Agreement for any or no reason upon giving the other party at least 14 days’
written notice. If the Company terminates this Agreement for Cause during the Term, or if Consultant terminates this Agreement during the Term and the termination by Consultant is not covered by Section 4.3, then (i) Consultant shall be
entitled to receive any fees earned and accrued under this Agreement prior to the date of termination of this Agreement; and (ii) Consultant shall have no further rights to any other compensation or benefits hereunder on or after the
termination of this Agreement (including, without limitation, the benefits set forth in Section 2.3 above), or any other rights hereunder. 

  
 A-4

 4.3     Termination by the Company without Cause; Termination by
Consultant for Good Reason. 
 (a)     For purposes of this Agreement, “Good
Reason” shall mean, unless otherwise consented to in writing by Consultant, any material breach by the Company of any provision of this Agreement. 
 Notwithstanding the foregoing, (i) Good Reason (A) shall not be deemed to exist unless Consultant gives to the Company a written notice identifying the event or condition purportedly giving rise
to Good Reason expressly referencing this Section 4.3(a) within 45 days after the time at which the event or condition first occurs or arises (or, if later, was discovered or should have been discovered by Consultant) and (B) shall
not be deemed to exist at any time at which there exists an event or condition which could serve as the basis of a termination of this Agreement for Cause; and (ii) if there exists (without regard to the following clause (ii)(A)) an event or
condition that constitutes Good Reason, (A) the Company shall have 45 days from the date notice of Good Reason is given to cure such event or condition and, if the Company does so, such event or condition shall not constitute Good Reason
hereunder; and (B) if the Company does not cure such event or condition within such 45-day period, Consultant shall have one business day thereafter to give the Company notice of termination of this Agreement on account thereof (specifying a
termination date no later than 10 days from the date of such notice of termination). 
 (b)     The
Company may terminate this Agreement at any time for any reason or no reason upon notice to Consultant and Consultant may terminate this Agreement with the Company for Good Reason upon notice to the Company. If the Company terminates this Agreement
and the termination is not covered by Section 4.1 or 4.2, or Consultant terminates this Agreement for Good Reason, then (i) Consultant shall be entitled to receive any fees earned and accrued under this Agreement prior to the date of
termination of this Agreement; (ii) Consultant shall be entitled to receive the bonus set forth in Section 2.4(a) above; (iii) Consultant shall be entitled to the benefits set forth in Section 2.3 above; and
(iv) Consultant shall have no further rights to any other compensation or benefits hereunder on or after the termination of this Agreement, or any other rights hereunder. Any payments that Consultant is entitled to receive pursuant to clause
(i) of the second sentence of this Section 4.3(b) shall be made by the Company in a single lump sum within five (5) business days after termination of this Agreement. Any payments or acceleration of vesting that Consultant is
entitled to receive pursuant to clause (ii) of the second sentence of this Section 4.3(b) shall be made by the Company in a single lump sum or occur, respectively, at the time set forth in Section 2.4(a) above. 

4.4     Limitations on Payments. 

(a)     Anything in this Agreement to the contrary notwithstanding, in the event that the amount of any
compensation, payment or distribution by the Company to or for the benefit of Consultant, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise (the “Payments”), calculated in a
manner consistent 

  
 A-5

 
with Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”) and the applicable regulations thereunder (or any successor provision) would be subject to
the excise tax imposed by Section 4999 of the Code (or any successor provision), then the Payments shall be reduced (but not below zero) so that the sum of all Payments shall be $1.00 less than the amount at which Consultant becomes subject to
the excise tax imposed by Section 4999 of the Code (or any successor provision); provided that such reduction shall only occur if it would result in Consultant receiving a higher After Tax Amount (as defined below) than Consultant would receive
if the Payments were not subject to such reduction. In the event the Payments are reduced pursuant to this Section 4.4(a), they shall be reduced in the following order: (1) cash payments not subject to Section 409A of the Code;
(2) cash payments subject to Section 409A of the Code; (3) equity-based payments and acceleration; and (4) non-cash forms of benefits. To the extent any payment is to be made over time (e.g., in installments, etc.), then the
payments shall be reduced in reverse chronological order. 
 (b)     For purposes of
Section 4.4(a), the “After Tax Amount” means the amount of the Payments less all federal, state, and local income, excise and employment taxes imposed on Consultant as a result of Consultant’s receipt of the Payments. For
purposes of determining the After Tax Amount, Consultant shall be deemed to pay federal income taxes at the highest marginal rate of federal income taxation applicable to individuals for the calendar year in which the determination is to be made,
and state and local income taxes at the highest marginal rates of individual taxation in the state and locality of Consultant’s residence on the date of termination, net of the maximum reduction in federal income taxes which could be obtained
from deduction of such state and local taxes. 
 (c)     The determination as to whether a reduction in
the Payments shall be made pursuant to Section 4.4(a) shall be made by a nationally recognized accounting firm selected by the Company (the “Accounting Firm”), which shall provide detailed supporting calculations both to
the Company and Consultant within 15 business days of the date of termination, if applicable, or at such earlier time as is reasonably requested by the Company or Consultant. Any determination by the Accounting Firm shall be binding upon the Company
and Consultant. 
 4.5     Section 409A. 

(a)     Anything in this Agreement to the contrary notwithstanding, if at the time of Consultant’s
separation from service from the Company within the meaning of Section 409A of the Code, the Company determines that Consultant is a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code, then to
the extent any payment or benefit that Consultant becomes entitled to under this Agreement on account of or after Consultant’s separation from service would be considered deferred compensation subject to the 20 percent additional tax imposed
pursuant to Section 409A(a) of the Code as a result of the application of Section 409A(a)(2)(B)(i) of the Code, such payment shall not be payable and such benefit shall not be provided until the date that is the earlier of
(A) six months and one day after Consultant’s separation from service, or (B) Consultant’s death. If any such delayed cash payment is otherwise payable on an installment basis, the first payment shall

  
 A-6

 
include a catch-up payment covering amounts that would otherwise have been paid during the six-month period but for the application of this provision, and the balance of the installments shall be
payable in accordance with their original schedule. Any payments delayed pursuant to this Section 4.4(a) shall bear interest during the period of such delay at a rate of interest equal to the short-term applicable federal rate for annually
compounding obligations for purposes of Section 1274(d) of the Code, or any successor provision, for the month in which such payment otherwise would have been paid. 
 (b)     The parties intend that this Agreement will be administered in accordance with Section 409A of the Code. To the extent that any provision of this Agreement is
ambiguous as to its compliance with Section 409A of the Code, the provision shall be read in such a manner so that all payments hereunder comply with Section 409A of the Code. The parties agree that this Agreement may be amended, as
reasonably requested by either party, and as may be necessary to fully comply with Section 409A of the Code and all related rules and regulations in order to preserve the payments and benefits provided hereunder without additional cost to
either party. 
 (c)     To the extent that any payment or benefit described in this Agreement
constitutes “non-qualified deferred compensation” under Section 409A of the Code, and to the extent that such payment or benefit is deemed to be payable upon (or within a specified time period after) Consultant’s termination of
employment, then such payments or benefits shall be payable only upon (or within a specified time period after) Consultant’s “separation from service.” The determination of whether and when a separation from service has occurred shall
be made in accordance with the presumptions set forth in Treasury Regulation Section 1.409A-1(h). 

(d)     The Company makes no representation or warranty and shall have no liability to Consultant or any other
person if any provisions of this Agreement are determined to constitute deferred compensation subject to Section 409A of the Code but do not satisfy an exemption from, or the conditions of, such Section. 

5.     Covenants of Consultant. 
 5.1     Covenant Against Conflicting Obligations; Other Covenants. Consultant acknowledges that (i) the principal business of the Company (which, for purposes of this
Section 5 (and any related enforcement provisions hereof), expressly includes its successors and assigns), is any commercial activity comprising any one or more of the ownership, acquisition, development or management of industrial real estate
(the “Business”); (ii) the Company is one of the limited number of persons who have developed such a business; (iii) the Company’s Business is currently national in scope within both the United States and Mexico;
(iv) Consultant’s work for the Company will give him access to the confidential affairs and proprietary information of the Company; (v) the covenants and agreements of Consultant contained in this Section 5 are essential to the
business and goodwill of the Company; and (vi) the Company would not have entered into this Agreement but for the covenants and agreements set forth in this Section 5. Accordingly, Consultant covenants and agrees that: 

  
 A-7

 (a)     By and in consideration of the fees and benefits to be
provided by the Company hereunder and further in consideration of Consultant’s exposure to the proprietary information of the Company, Consultant covenants and agrees that, during the Term, he shall not in the United States, or, if and to the
extent that the Business is Actively Conducted (as defined below) outside of the United States, in the applicable non-U.S. locations, directly or indirectly, (i) engage in any element of the Business (other than for the Company or its
Controlled Affiliates), (ii) render any services to any person, corporation, partnership or other entity (other than the Company or its Controlled Affiliates) engaged in any element of the Business, or (iii) become interested in any such
person, corporation, partnership or other entity (other than the Company or its Controlled Affiliates) as a partner, member, manager, shareholder, principal, agent, employee, trustee, consultant or any person engaged in the Business, or in any other
relationship or capacity; provided, however, that, notwithstanding the foregoing, Consultant may own or acquire or otherwise invest in, directly or indirectly, securities of any entity, solely for investment purposes and without participating in the
business thereof, if (A) such securities are traded on any national securities exchange or in the over-the-counter market, (B) Consultant is not a controlling person of, or a member of a group which controls, such entity and
(C) Consultant does not, directly or indirectly, own 5% or more of any class of securities of such entity. “Actively Conducted” shall mean that the Company actually owns or manages industrial real estate in the specified
location, or has entered into a binding agreement, or a letter of intent, a term sheet, an agreement in principle, or any similar non-binding agreement (which non-binding agreement has not been terminated or expired of its own terms), to purchase or
manage industrial real estate in the specified location. “Controlled Affiliates” shall mean any and all entities that the Company directly or indirectly controls; provided that, if after the date hereof there is a reorganization of
the Company and a new holding company is established thereover, which controls the Company, then “Controlled Affiliates” shall also include such holding company and any affiliates that are controlled by the new parent. 

(b)     During and after the Term, Consultant shall keep secret and retain in strictest confidence, and shall
not use for his benefit or the benefit of others, except in connection with the business and affairs of the Company and its Controlled Affiliates, all confidential matters relating to the Company’s Business and the business of any of its
Controlled Affiliates and to the Company and any of its Controlled Affiliates, learned by Consultant heretofore or hereafter directly or indirectly from the Company or any of its Controlled Affiliates, including, without limitation, information with
respect to (i) sources and non-public methods of raising capital, (ii) non-public information related to joint ventures, institutional funds and the partners or other investors therein, and (iii) any other material, non-public
information (the “Confidential Company Information”); and shall not disclose such Confidential Company Information to anyone outside of the Company except (w) with the Company’s express written consent,
(x) Confidential Company Information which is at the time of receipt or thereafter becomes publicly known through no wrongful act of Consultant 

  
 A-8

 
or is received from a third party not under an obligation to keep such information confidential and without breach of this Agreement, (y) as required by law or legal process (provided that
Consultant shall give the Company reasonable prior written notice of disclosure under this clause (y)), and (z) for disclosures to counsel in the context of seeking legal advice where counsel agrees, for the benefit of the Company, to be bound
by the restrictions of this sentence. 
 (c)     During the Term, Consultant shall not, without the
Company’s prior written consent, directly or indirectly (i) solicit or encourage to leave the employment or other service of the Company, or any of its Controlled Affiliates, any employee or independent contractor of the Company where the
independent contractor performs (or in the prior year has performed) a substantial portion of his services for the Company (provided that this clause (i) shall not apply to Sharon Adams, except to the extent the similar provision contained
in the Employment agreement applies to Ms. Adams), or (ii) publish any statement or make any statement under circumstances reasonably likely to become public that is critical of the Company or any of its Controlled Affiliates, or in any
way adversely affecting or otherwise maligning the Business or reputation of the Company or any of its Controlled Affiliates (provided that nothing in this sentence is intended to prevent Consultant from including in his pleadings or from his
testimony any truthful matter to the extent necessary to defend against any claim by the Company or a third party against Consultant, or to prosecute any claim against the Company for a breach of this Agreement). 

(d)     All memoranda, notes, lists, records, property and any other tangible product and documents (and all
copies thereof), whether visually perceptible, machine-readable or otherwise, made, produced or compiled by Consultant or made available to Consultant concerning the business of the Company or its Controlled Affiliates, (i) shall at all times
be the property of the Company (and, as applicable, any Controlled Affiliates) and shall be delivered to the Company at any time upon its request, and (ii) upon the termination of this Agreement, shall be immediately returned to the Company.

 5.2     Rights and Remedies upon Breach. Consultant acknowledges and agrees that any breach
by him of any of the provisions of Section 5.1 (the “Restrictive Covenants”) would result in irreparable injury and damage for which money damages would not provide an adequate remedy. Therefore, if Consultant breaches, or
threatens to commit a breach of, any of the provisions of Section 5.1, the Company and its Controlled Affiliates shall have, in addition to, and not in lieu of, any other rights and remedies available to the Company and its Controlled
Affiliates under law or in equity (including, without limitation, the recovery of damages), the right and remedy to have the Restrictive Covenants specifically enforced (without posting bond and without the need to prove damages), including, without
limitation, the right to restraining orders and injunctions (preliminary, mandatory, temporary and permanent) against violations, threatened or actual, and whether or not then continuing, of such covenants. 

  
 A-9

 6.     Independent Contractor; Benefits. 

6.1     Independent Contractor. It is the express intention of the Company and Consultant that Consultant
perform the Services as an independent contractor to the Company. Nothing in this Agreement shall in any way be construed to constitute Consultant as an agent, employee or representative of the Company. Without limiting the generality of the
foregoing, Consultant is not authorized to bind the Company to any liability or obligation or to represent that Consultant has any such authority. Consultant acknowledges and agrees that Consultant is obligated to report as income all compensation
received by Consultant pursuant to this Agreement. Consultant agrees to and acknowledges the obligation to pay all self-employment and other taxes on such income. 
 6.2     Benefits. The Company and Consultant agree that Consultant will receive no Company-sponsored benefits from the Company, other than those benefits noted in
Section 2.3. If Consultant is reclassified by a state or federal agency or court as Company’s employee, Consultant will become an employee and will receive no benefits from the Company, other than those benefits noted in Section 2.3
and except those mandated by state or federal law, even if by the terms of the Company’s benefit plans or programs of the Company in effect at the time of such reclassification, Consultant would otherwise be eligible for such benefits.

 7.     Other Provisions. 

7.1     Severability. Consultant acknowledges and agrees that (i) he has had an opportunity to seek
advice of counsel in connection with this Agreement and (ii) the Restrictive Covenants are reasonable in geographical and temporal scope and in all other respects. If it is determined that any of the provisions of this Agreement, including,
without limitation, any of the Restrictive Covenants, or any part thereof, is invalid or unenforceable, the remainder of the provisions of this Agreement shall not thereby be affected and shall be given full effect, without regard to the invalid
portions. 
 7.2     Scope of Covenants. If any court or other decision-maker of competent
jurisdiction determines that any of Consultant’s covenants contained in this Agreement, including, without limitation, any of the Restrictive Covenants, or any part thereof, is unenforceable because of the geographical scope of such provision,
then, after such determination has become final and unappealable, the scope of such provision, as the case may be, shall be reduced so that such provision becomes enforceable and, in its reduced form, such provision shall then be enforceable and
shall be enforced. 
 7.3     Controversies and Claims. Any controversy or claim arising out of
or relating to this Agreement or the breach of this Agreement that is not resolved by Consultant and the Company (or its Controlled Affiliates, where applicable) shall be brought and resolved in the state or federal courts located in Colorado, and
the parties hereby consent to the jurisdiction and venue of such courts for such purpose. Notwithstanding the foregoing, any judgment of any such court may be enforced in any court of competent jurisdiction. 

  
 A-10

 7.4     Notices. Any notice or other communication required
or permitted hereunder shall be in writing and shall be delivered personally, telegraphed, telexed, sent by facsimile transmission or sent by certified, registered or express mail, postage prepaid. Any such notice shall be deemed given when so
delivered personally, telegraphed, telexed or sent by facsimile transmission or, if mailed, five days after the date of deposit in the United States mails as follows: 
  

					
	 If to the Company, to:
	  	 DCT Industrial Trust Inc.
 518 Seventeenth Street, Suite 800
 Denver, Colorado 80202

Attention: Chief Executive Officer
 Facsimile:
(303)-228-2201

			
	 with a copy to:
	  	 Goodwin Procter LLP
 53 State
Street
 Boston, MA 02109
 Attention:
Daniel P. Adams
 Facsimile: (617) 523-1231
	  	
		
	 If to Consultant, to:
	  	 Jeffrey F. Phelan

at the address set forth on the signature page

hereof

			
	 with a copy to:
	  	 Dzida, Carey & Steinman

3 Park Plaza, Suite 750
 Irvine, CA
92614
 Attention: Steven J. Dzida

Facsimile: (949) 399-0361
	  	

 Any such person may by notice given in accordance with this Section 7.4 to the other parties hereto designate
another address or person for receipt by such person of notices hereunder. 
 7.5     Entire
Agreement. This Agreement contains the entire agreement of the parties regarding the subject matter hereof and supersedes all prior agreements, understandings and negotiations regarding the same; provided that this Agreement shall be in addition
to, and shall not supersede, any provisions of the Employment Agreement that remain in effect during the Term. 

7.6     Waivers and Amendments. This Agreement may be amended, superseded, canceled, renewed or extended,
and the terms hereof may be waived, only by a written instrument signed by the parties or, in the case of a waiver, by the party waiving compliance. No delay on the part of any party in exercising any right, power or privilege hereunder shall
operate as a waiver thereof, nor shall any waiver on the part of any party of any such right, power or privilege nor any single or partial exercise of any such right, power or privilege, preclude any other or further exercise thereof or the exercise
of any other such right, power or privilege. 

  
 A-11

 7.7     GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY
AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF COLORADO WITHOUT REGARD TO ANY PRINCIPLES OF CONFLICTS OF LAW WHICH COULD CAUSE THE APPLICATION OF THE LAWS OF ANY JURISDICTION OTHER THAN THE STATE OF COLORADO. 

7.8     Assignment. This Agreement, and Consultant’s rights and obligations hereunder, may not be
assigned by Consultant; any purported assignment by Consultant in violation hereof shall be null and void. This Agreement, and the Company’s rights and obligations hereunder, may not be assigned by the Company; any purported assignment by the
Company in violation hereof shall be null and void. Notwithstanding the foregoing, (i) in the event of any sale, transfer or other disposition of all or substantially all of the Company’s assets or business, whether by merger,
consolidation or otherwise, the Company may assign this Agreement and its rights hereunder, and (ii) the Company may assign the Agreement to its Controlled Affiliates so long as Consultant’s title is not reduced and Consultant’s role
in respect of the affiliated group taken as a whole is not materially adversely affected. 

7.9     Withholding. The Company shall be entitled to withhold from any payments or deemed payments any
amount of tax withholding it determines to be required by law. 
 7.10     Binding Effect. This
Agreement shall be binding upon and inure to the benefit of the parties and their respective successors, permitted assigns, heirs, executors and legal representatives. 
 7.11     Counterparts. This Agreement may be executed by the parties hereto in separate counterparts, each of which when so executed and delivered shall be an original but
all such counterparts together shall constitute one and the same instrument. Each counterpart may consist of two copies hereof each signed by one of the parties hereto. 
 7.12     Survival. Anything contained in this Agreement to the contrary notwithstanding, the provisions of Sections 4, 5, 7.3 and 7.9, and the other provisions of this
Section 7 (to the extent necessary to effectuate the survival of Sections 4, 5, 7.3 and 7.9), shall survive termination of this Agreement and any termination of Consultant’s employment hereunder. 

7.13     Existing Agreements. Consultant represents to the Company that he is not subject or a party to
any employment or consulting agreement, non-competition covenant or other agreement, covenant or understanding which might prohibit him from executing this Agreement or limit his ability to fulfill his responsibilities hereunder. 

7.14     Headings. The headings in this Agreement are for reference only and shall not affect the
interpretation of this Agreement. 

  
 A-12

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement. 

 

					
	 COMPANY:

DCT INDUSTRIAL TRUST INC.

			
	By:	 	 	 	 

 
					
	Name:    Philip L. Hawkins
	Title:    Chief Executive Officer
			
	Date: 	 	 	 	 
	
	CONSULTANT:
	
	 
	Jeffrey F. Phelan
			
	Date:Office Lease

 Exhibit 10.1 
 OFFICE LEASE AGREEMENT 
 BETWEEN 

FARNSWORTH STILLINGS L.P. 
 (“LANDLORD”) 
 AND 

ZIPCAR, INC. 
 (“TENANT”) 

 TABLE OF CONTENTS 

 

							
	1.	  	Basic Lease Information	  	 	1	  
	2.	  	Lease Grant	  	 	4	  
	3.	  	Delivery Date; Possession	  	 	5	  
	4.	  	Rent	  	 	6	  
	5.	  	Compliance with Laws; Use	  	 	6	  
	6.	  	Security Deposit	  	 	7	  
	7.	  	Building Services	  	 	8	  
	8.	  	Leasehold Improvements	  	 	10	  
	9.	  	Repairs and Alterations	  	 	11	  
	10.	  	Entry by Landlord	  	 	12	  
	11.	  	Assignment and Subletting	  	 	13	  
	12.	  	Liens	  	 	14	  
	13.	  	Indemnity and Waiver of Claims	  	 	15	  
	14.	  	Insurance	  	 	16	  
	15.	  	Subrogation	  	 	18	  
	16.	  	Casualty Damage	  	 	18	  
	17.	  	Condemnation	  	 	19	  
	18.	  	Events of Default	  	 	19	  
	19.	  	Remedies	  	 	20	  
	20.	  	Limitation of Liability	  	 	21	  
	21.	  	Intentionally Omitted	  	 	22	  
	22.	  	Holding Over	  	 	22	  
	23.	  	Subordination to Mortgages; Estoppel Certificate	  	 	22	  
	24.	  	Notice	  	 	23	  
	25.	  	Surrender of Premises	  	 	23	  
	26.	  	Miscellaneous	  	 	23	  
	27.	  	OFAC Compliance	  	 	27	  
	28.	  	Parking	  	 	28	  

 Exhibit A - Outline and Location of Premises 
 Exhibit B - Expenses and Taxes 
 Exhibit C - Work Letter 

Exhibit C-1 – Tenant’s Preliminary Plans 
 Exhibit D - Form of Commencement Date Certificate 
 Exhibit E - Building Rules and Regulations

 Exhibit F - Additional Provisions 

Exhibit G – Demising Specification 
 Exhibit
H - Form of Subordination, Non-disturbance and Attornment Agreement 
 Exhibit I – Plan showing the Land 

Exhibit J – Cleaning Specifications 

Exhibit K – Escrow Agreement 
 Exhibit L
– Zipcar Parking Space Area 

  
 i 

 OFFICE LEASE AGREEMENT 

THIS OFFICE LEASE AGREEMENT (the “Lease”) is made and entered into as of November 30, 2012 (the “Execution
Date”), by and between FARNSWORTH STILLINGS L.P., a Delaware limited partnership (“Landlord”) and ZIPCAR, INC., a Delaware corporation (“Tenant”). 

The following exhibits and attachments are incorporated into and made a part of the Lease: Exhibit A (Outline and Location of
Premises), Exhibit B (Expenses and Taxes), Exhibit C (Work Letter, if required), Exhibit D (Form of Commencement Date Certificate), Exhibit E (Building Rules and Regulations), Exhibit F (Additional Provisions),
Exhibit G (List of Furniture), Exhibit H (Form of Subordination, Non-disturbance and Attornment Agreement), Exhibit I (Plan showing the Land), and Exhibit J (Cleaning Specifications). 

 

	1.	Basic Lease Information. 

1.01 “Building” shall mean the six (6) story building located at 35 Thomson Place, Boston, Massachusetts 02210.
“Rentable Square Footage of the Building” is deemed to be 46,200 square feet. 
 1.02
“Premises” shall mean the entire interior space within the Building, excluding the basement thereof, as shown on Exhibit A to this Lease. The “Rentable Square Footage of the Premises” is deemed to be
46,200 square feet. Landlord and Tenant stipulate and agree that the Rentable Square Footage of the Building and the Rentable Square Footage of the Premises are correct. 
 1.03 “Base Rent”: 
  

													
	 Period
	  	Annual Rate Per
Square Foot	 	  	Annual Base
Rent	 	 	Monthly Base
Rent	 
	 Commencement Date – 8/31/13
	  	$	0	  	  	$	0	  	 	$	0	  
	 9/1/13 - 12/31/14
	  	$	30.00	  	  	$	1,386,000.00	* 	 	$	115,500.00	  
	 1/1/15 - 12/31/15
	  	$	36.00	  	  	$	1,663,200.00	  	 	$	138,600.00	  
	 1/1/16 - 12/31/16
	  	$	37.00	  	  	$	1,709,400.00	  	 	$	142,450.00	  
	 1/1/17 - 12/31/17
	  	$	38.00	  	  	$	1,755,600.00	  	 	$	146,300.00	  
	 1/1/18 - 12/31/18
	  	$	39.00	  	  	$	1,801,800.00	  	 	$	150,150.00	  
	 1/1/19 - 12/31/19
	  	$	40.00	  	  	$	1,848,000.00	  	 	$	154,000.00	  
	 1/1/20 - 12/31/20
	  	$	41.00	  	  	$	1,894,200.00	  	 	$	157,850.00	  
	 1/1/21 - 12/31/21
	  	$	42.00	  	  	$	1,940,400.00	  	 	$	161,700.00	  
	 1/1/22 - 12/31/22
	  	$	43.00	  	  	$	1,986,600.00	  	 	$	165,550.00	  
	 1/1/23 - 12/31/23
	  	$	44.00	  	  	$	2,032,800.00	  	 	$	169,400.00	  

  

	*	Annualized 

 1.04
“Tenant’s Pro Rata Share”: 100%. 

  
 1 

 1.05 “Base Year” for Taxes: The sum of seven-twelfths
(7/12th) of Taxes payable for Fiscal Year (defined
below) 2013 (i.e., July 1, 2012 to June 30, 2013) plus five-twelfths (5/12th) of Taxes payable for Fiscal Year 2014. For purposes hereof, “Fiscal Year” shall mean the Base Year for Taxes and each period of July 1 to June 30 thereafter. 

1.06 “Base Year” for Expenses (defined in Exhibit B): The Twelve (12) calendar month period commencing on
the first day of the calendar month in which the earlier of the following two (2) dates occurs: (i) the Rent Commencement Date and (ii) the date on which Tenant commences beneficial use and occupancy of the Premises (as opposed to
preparing the Premises for Tenant’s use and occupancy). 
 1.07 “Term”: A period of time commencing on the
date (the “Commencement Date”) on which Landlord delivers possession of the Premises to Tenant in its as-is condition and free and clear of all occupants, tenancies, and personal property that is not to be used by Tenant pursuant to
the terms of this Lease, which date is estimated to occur on the Execution Date, and terminating on December 31, 2023 (the “Termination Date”), unless early terminated or extended pursuant to Section 1 of Exhibit F.
The “Rent Commencement Date” shall be September 1, 2013. 
 1.08 “Improvement
Allowance(s)”: An amount equal to $1,155,000.00, as further described in the attached Exhibit C. 
 1.09
“Security Deposit”: $894,201.00, as the same may be reduced as set forth in Article 6. 
 1.10
“Guarantor(s)”: None. 
 1.11 “Broker(s)”: Cresa Boston. 

1.12 “Permitted Use”: General Office Use and uses customarily accessory thereto. 

1.13 “Notice Address(es)”: 
  

					
		 	Landlord’s Notice Address:	 	
			
		 	Farnsworth Stillings L.P.	 	
		 	c/o Crosspoint Associates, Inc.	 	
		 	217 West Central Street	 	
		 	Natick, MA 01760	 	
			
		 	With a copy to:	 	
			
		 	Goulston & Storrs, P.C.	 	
		 	400 Atlantic Avenue	 	
		 	Boston, MA 02110	 	
		 	Attn: Crosspoint	 	

  
 2 

					
		 	Landlord’s Rent Address:	 	
			
		 	Farnsworth Stillings L.P.	 	
		 	c/o Crosspoint Associates, Inc.	 	
		 	217 West Central Street	 	
		 	Natick, MA 01760	 	
		 	Attn: Accounts Receivable	 	
			
		 	Tenant’s Notice Address:	 	
			
		 	Prior to Rent Commencement Date:	 	
		 	25 First Street, Fourth Floor	 	
		 	Cambridge, MA 02141	 	
		 	Attention: General Counsel	 	
			
		 	After Rent Commencement Date:	 	
			
		 	35 Thomson Place	 	
		 	Boston, MA 02210	 	
		 	Attn: General Counsel	 	
			
		 	With a copy to:	 	
			
		 	Brennan, Dain, Le Ray, Wiest, Torpy & Garner, P.C.	 	
		 	129 South Street, 3rd floor	 	
		 	Boston, MA 02111	 	
		 	Attn: Joseph R. Torpy	 	

 1.14 “Business Day(s)” are Monday through Friday of each week, exclusive of New
Year’s Day, Martin Luther King Day, Presidents’ Day, Memorial Day, Independence Day, Labor Day, Columbus Day, Veterans’ Day, Thanksgiving Day and Christmas Day (the “Holidays”). Landlord may designate additional
Holidays that are commonly recognized by other office buildings in the area where the Building is located. “Building Service Hours” are 8:00 A.M. to 6:00 P.M. on Business Days and 8:00 A.M. to 1:00 P.M. on Saturdays, exclusive of
Holidays. 
 1.15 “Initial Improvements” means the work that Tenant may perform in the Premises pursuant to a
separate agreement (the “Work Letter”) attached to this Lease as Exhibit C. 
 1.16
“Property” means the Building and the parcel of land on which it is located owned by Landlord and as shown on the plan attached hereto as Exhibit I (the “Land”). 

1.17 “Storage Space”: Approximately six thousand five hundred (6,500) square feet of storage space in the basement
of the Building. 
 1.18 “Storage Space Rent”: Twenty Thousand Dollars ($20,000) per year payable in equal
monthly installments of One Thousand Six Hundred Sixty-Six and 67/100 Dollars ($1,666.67), such monthly amount to be paid with monthly installments of Base Rent commencing on the same date as Base Rent commences hereunder. 

  
 3 

	2.	Lease Grant. 

 2.01 The
Premises are hereby leased to Tenant from Landlord, together with the right to use all other portions of the Property (the “Common Areas”) and the exclusive right to use the Storage Space. Tenant shall have the right to reactivate
the loading dock in the Building and to use the same in common with the occupant, if any, of the basement of the Building. All work to reactivate the loading dock shall be performed in accordance with the provisions of Section 9.03 below and in
accordance with plans and specifications approved by Landlord, which approval shall not be unreasonably withheld, delayed, or conditioned and shall be further subject to approval by the City of Boston and any other governmental agency with authority
over the Property. Landlord agrees to cooperate with Tenant, at no out of pocket cost to Landlord, in Tenant’s efforts to reactivate the loading dock. Upon completion of such work, the loading dock shall constitute part of the Common Areas.

 2.02 Subject to the requirements of all Laws (defined below), Tenant may install a bicycle rack on a portion of the Property
(or, subject to the requirements of Section 3.2 of the Street Agreement, any land immediately adjacent to the Property) in a location approved in writing by Landlord, which approval shall not be unreasonably withheld, delayed or conditioned.
Tenant shall be solely responsible for obtaining, at its expense, such permits and approvals as may be required for the installation and use of any such bicycle rack. Landlord agrees to cooperate with Tenant, at no out of pocket cost to Landlord, in
Tenant’s endeavors to obtain any required permit or approval for such bicycle rack. Tenant shall be solely responsible for the operation, maintenance, and repair of any such bicycle rack. Notwithstanding anything to the contrary contained in
this Lease, Landlord shall have no liability to Tenant or anyone claiming by, through, or under Tenant for any loss or damage, however caused, to any bicycle or other personal property placed in any such rack. 

2.03 Subject to the requirements of all Laws, Tenant shall have the right to construct a roof deck on the roof of the Building in a
location and of a size designed by Tenant and approved in writing by Landlord, which approval shall not be unreasonably withheld, delayed or conditioned (the “Roof Deck”). The Roof Deck shall be constructed in accordance with plans
and specifications therefor that have been approved in advance, in writing by Landlord, which approval shall not be unreasonably withheld, conditioned or delayed, and otherwise in accordance with the provisions of Article 8 hereof. Without limiting
the foregoing, Landlord may require that Tenant employ Landlord’s roofing contractor to perform the affixation of the Roof Deck to the roof of the Building (provided such contractor agrees to perform on commercially reasonable terms and rates),
and in any event Tenant and its contractors shall strictly comply with the requirements of Landlord’s roof warranty. Tenant shall be solely responsible for obtaining, at its expense, such permits and approvals as may be required for the
installation of the Roof Deck. Landlord agrees to cooperate with Tenant, at no out of pocket cost to Landlord, in Tenant’s endeavors to obtain any required permit or approval for the Roof Deck. The Roof Deck shall be considered part of the
Premises for all purposes of this Lease, including, without limitation, the provisions of Sections 13 and 14 hereof, but no Rent shall be payable for or with respect to the Roof Deck. Tenant shall have no obligation to remove the Roof Deck at the
expiration or earlier termination of the Term. 

  
 4 

 2.04 Pursuant to Section 4.1 of the Street Agreement (as defined in
Section 9.02 below), all parking spaces located in the Common Areas (as defined in the Street Agreement) adjacent to the Building belong to the owner of the Building. Further, Section 4.1 permits the owner of the Building to seek public
approvals to add one or more horizontal parking spaces in the portions of the Common Areas abutting the Building. Landlord agrees that Tenant shall have a revocable license, on the terms and conditions set forth below (the “Parking
License”) to place up to three (3) Zipcars and appropriate signage in either the area shown on Exhibit L attached hereto or, to the extent three (3) parking spaces do not exist in such area, in such other portion of the
Common Areas as may be permitted under the Street Agreement. The Parking License shall run for the Term of this Lease, except that Landlord may elect to terminate the Parking License at any time by giving Tenant written notice of such election at
least six (6) months before the effective date of such termination, which effective date shall be set forth in Landlord’s termination notice. Landlord shall not terminate the Parking License if Landlord has granted parking rights
(i) for the purpose of parking rental vehicles in the Common Areas to any other entity in the business of renting automobiles to the public (“Competing Rights”) or (ii) to any other tenant of the Complex (as that term is
defined in Section 11.01 below) that leases, in the aggregate, less than 47,000 rentable square feet of space in the Complex (a “Smaller Tenant”), unless Landlord, reasonably simultaneously therewith, terminates all such other
rights. After any termination of the Parking License, Landlord shall not grant Competing Rights or parking rights to a Smaller Tenant in the Common Areas unless and until Landlord reinstates the Parking License. 

Landlord shall cooperate with Tenant’s efforts to obtain (and to act on Tenant’s behalf if necessary, to obtain, at
Tenant’s cost) public approvals so that Tenant may add such additional horizontal parking spaces in such Common Areas so that Tenant may have three (3) Zipcars in parking spaces in the Common Areas adjacent to the Building. In any event,
such parking spaces shall be in a location approved in writing by Landlord, which approval shall not be unreasonably withheld, delayed or conditioned. Landlord shall cooperate with Tenant’s efforts to identify such parking spaces for
“Zipcar Use Only”. Tenant shall be responsible for obtaining such permits and approvals as may be required by Law or by the Street Agreement for the use of such parking spaces. 

Commencing on the date Tenant first uses any of such parking spaces and thereafter throughout the term of the Parking License, Tenant
shall pay Landlord, as additional rent, a monthly charge for each of the three (3) parking spaces covered by the Parking License in an amount equal to the average monthly charge for surface parking spaces in the Fort Point Channel area of
Boston as reasonably determined by Landlord from time to time based upon actual charges for such facilities as documented to Tenant. Such charge may be adjusted by Landlord from time to time to reflect actual increases in the fair market rate for
such spaces in such area, but not more frequently than one (1) time per calendar year. 
  

	3.	Delivery Date; Possession. 

3.01 Notwithstanding anything to the contrary herein contained, Tenant shall take the Premises in its “as-is”, condition as of
the Execution Date; provided, however, Landlord agrees to demise the Building from the building having an address of 25 Thomson Place prior to the Commencement Date in accordance with the demising specification attached hereto as Exhibit
G. 

  
 5 

 
Except as expressly otherwise provided herein, there shall be no obligation on the part of Landlord to prepare or construct the Premises for Tenant’s occupancy, and without any
representations or warranties by Landlord to Tenant as to the condition of the Premises or the Building. 
 3.02 Promptly after
the determination of the Commencement Date, Landlord and Tenant shall enter into a commencement letter agreement in the form attached hereto as Exhibit D. By taking possession of the Premises, Tenant agrees that the Premises are in good order
and satisfactory condition, except as may be set forth on a punchlist delivered to Landlord not later than thirty (30) days after the Commencement Date. 
  

	4.	Rent. 

 4.01 Tenant shall
pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent, Storage Space Rent and Additional Rent due for the Term (collectively referred to as “Rent”). All payments of Rent shall be made
by wire transfer of immediately available United States Dollars in accordance with wire transfer instructions provided by Landlord from time to time by written notice to Tenant thereof. “Additional Rent” means all sums (exclusive of
Base Rent) that Tenant is required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding income taxes), if any, imposed upon or measured by Rent. Base Rent and recurring monthly charges
of Additional Rent shall be due and payable in advance on the first day of each calendar month without notice or demand. All other items of Rent shall be due and payable by Tenant on or before thirty (30) days after billing by Landlord. Rent
shall be made payable to the entity, and sent to the address, Landlord designates by written notice to Tenant given at least fifteen (15) days in advance of the next payment and shall be made by wire transfer of current U.S. funds to an account
designated by Landlord by written notice to Tenant from time to time or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to five percent (5%) of all past due Rent, provided that Tenant shall be
entitled to a grace period of five (5) days after receipt of notice from Landlord specifying such failure to pay for the first (1st) two (2) late payments of Rent in a calendar year. In addition, past due Rent that is not paid within
five (5) days of its due date shall accrue interest at eight percent (8%) per annum from the due date until actually paid. Landlord’s acceptance of less than the correct amount of Rent shall be considered a payment on account of the
earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter accompanying payment shall be considered an accord and satisfaction. Each party’s covenants are independent of
every other covenant of the other party in this Lease. 
 Tenant shall pay Tenant’s Pro Rata Share of Taxes and Expenses in
accordance with Exhibit B of this Lease. 
  

	5.	Compliance with Laws; Use. 

The Premises shall be used for the Permitted Use and for no other use whatsoever. Tenant shall comply with all statutes, codes,
ordinances, orders, rules and regulations of any municipal or governmental entity whether in effect now or later, including the Americans with Disabilities Act (the “Law(s)”), regarding the operation of Tenant’s business and
the use, 

  
 6 

 
condition, configuration, and occupancy of the Premises. Notwithstanding the foregoing, if compliance with Law requires the making of any alteration, addition or installation in or to the
Premises, Tenant shall be responsible for performing such work only if the same is made necessary by reason of Tenant’s particular manner of use of the Premises, i.e. as opposed to office uses generically, or by any leasehold improvements
performed in the Premises by Tenant, its agents, contractors or employees; and otherwise Landlord shall be responsible for performing such work, the cost of which may be included in Expenses to the extent permitted under Exhibit B hereto. In
addition, Tenant shall, at its sole cost and expense, promptly comply with any Laws that relate to the “Base Building” (defined below), but only to the extent such obligations are triggered by Tenant’s use of the Premises other than
for general office use, or Alterations or improvements in the Premises performed or requested by Tenant, otherwise, Landlord shall be responsible for promptly complying with Laws relating to the Base Building. In the event a violation of Law is
identified in the course of performing any Alteration (or any inspections related thereto), and the Alteration was not the cause of the violation, then Landlord shall be responsible for promptly correcting such violation of Law at Landlord’s
expense, except that such cost may be included in Expenses to the extent permitted under Exhibit B hereto, and to the extent the Initial Alterations are delayed as a result of such violation and/or the correction thereof, the Rent
Commencement Date shall be delayed on a day-for-day basis. By way of clarification of the foregoing, Tenant shall not be responsible for curing any violation that Tenant merely discovers in the course of performing any Alteration, but if
Tenant’s performance of any Alteration or other work causes a condition in the Building that previously complied with Law not to comply, then Tenant shall be responsible, at its expense, for bringing such condition into compliance with Law and
the Rent Commencement Date shall not be delayed by reason thereof. “Base Building” shall include the roof and roofing system, structural portions of the Building, the public restrooms, and the Building mechanical, electrical and
plumbing systems and equipment. Tenant shall promptly provide Landlord with copies of any notices it receives regarding an alleged violation of Law. Tenant shall comply with the rules and regulations of the Building attached as Exhibit E and
such other reasonable rules and regulations adopted by Landlord from time to time, including rules and regulations for the performance of Alterations (defined in Article 9). As of the date hereof, Landlord has not received notice from any
governmental agencies that the Building is in violation of Title III of the Americans with Disabilities Act or any other Laws that, in any such case, remain uncured. 
  

	6.	Security Deposit. 

 The
Security Deposit shall be delivered to Landlord on or before the date that is two (2) Business Days after the Execution Date and shall be held by Landlord without liability for interest (unless required by Law) as security for the performance
of Tenant’s obligations. The Security Deposit is not an advance payment of Rent or a measure of damages. Landlord may use all or a portion of the Security Deposit to cure any Default (defined in Article 18) by Tenant. If Landlord uses any
portion of the Security Deposit, Tenant shall, within five (5) days after demand, restore the Security Deposit to its original amount. Landlord shall return any unapplied portion of the Security Deposit to Tenant within forty-five
(45) days after the later to occur of the Termination Date or the date Tenant surrenders the Premises to Landlord in compliance with Article 25 (provided that Landlord may retain therefrom Landlord’s reasonable estimate of the amount of
Expense Excess and Tax Excess (as those terms are defined in Exhibit B hereto) that would be payable by Tenant upon reconciliation of accounts for the year in which the 

  
 7 

 
Termination Date occurs, and which retained amount shall be accounted for when Landlord makes such reconciliation for such year). Landlord shall deliver the Security Deposit to a successor or
transferee and, following such delivery, Landlord shall have no further liability for the return of the Security Deposit. Landlord shall not be required to keep the Security Deposit separate from its other accounts. 

Provided (i) that Tenant is not in Default (i.e., after notice thereof and expiration of the applicable cure period) of any of its
obligations under this Lease on the effective date of any reduction (the “Effective Date of Reduction”) and (ii) that no notice of default is outstanding on the Effective Date of Reduction (i.e., notice has been given but the
default has not been cured and the cure period has not expired) provided however that if a notice of default is outstanding as of the Effective Date of Reduction, such reduction shall merely be deferred until the date such default is cured (as
opposed to such reduction being forfeited), Landlord shall refund to Tenant such portion of the Security Deposit which it is then holding so as to cause the total Security Deposit to be reduced as of the Effective Date of Reduction to the amount
shown in the following schedule: 
  

					
	 Effective Date of Reduction
	  	New Reduced Amount of
Security Deposit	 
	 September 1, 2018
	  	$	596,134.00	  
	 September 1, 2019
	  	$	298,067.00	  

 Notwithstanding the foregoing, if Landlord has validly given a notice of monetary default to Tenant
within the twelve (12) month period immediately preceding any Effective Date of Reduction (including any postponed Effective Date of Reduction), then such Effective Date of Reduction shall be postponed until the first day of the calendar month
following the one year anniversary of the date on which Tenant cures such monetary default. If Tenant is in Default of its covenants and obligations under the Lease as of such Effective Date of Reduction, then there shall be no further reduction of
the Security Deposit. If Tenant is entitled to a reduction in the Security Deposit, Tenant shall have the right to provide Landlord with written notice requesting that the Security Deposit be reduced as provided above (the “Reduction
Notice”). Landlord shall refund the applicable portion of the Security Deposit to Tenant within forty-five (45) days after the later to occur of (i) Landlord’s receipt of the Reduction Notice or (ii) the applicable
Effective Date of Reduction. 
 In no event shall the Security Deposit ever be less than Two Hundred Ninety-Eight Thousand
Sixty-Seven and 00/100 Dollars ($298,067.00). The balance of the Security Deposit, (i.e., $298,067.00) shall continue to be held by Landlord throughout the Term of the Lease, as it may be extended. 

 

	7.	Building Services. 

 7.01
Landlord shall furnish Tenant with the following services: (a) water and sewer service; (b) heat and air conditioning in season during Building Service Hours, and at all others times upon demand of Tenant, sufficient to maintain the entire
Premises within a range of 72-74 degrees Fahrenheit when outdoor conditions are 91 degrees or lower Fahrenheit drybulb and 

  
 8 

 
73 degrees or lower Fahrenheit wetbulb, and sufficient to minimum room temperature of 72 degrees Fahrenheit when outdoor conditions are 6 degrees or higher Fahrenheit drybulb. If Tenant uses
HVAC service to the Premises at times other than Building Service Hours, Tenant shall pay Landlord, as additional rent, an hourly fee in an amount reasonably determined by Landlord to compensate Landlord for any additional maintenance, repairs, or
wear and tear to the HVAC system serving the Premises caused by such after-hour usage. Such hourly fee shall initially be $40.00 per hour, which amount shall be increased annually by the annual percentage increase in the Consumer Price Index for all
Urban Consumers (CPI-U) specified for All Items (1982-84=100) for Boston-Brockton-Nashua, MA-NH-ME-CT and issued by the Bureau Labor Statistics of the United States Department of Labor. Tenant shall have the right to control overtime HVAC usage, and
Landlord and Tenant shall cooperate in good faith to establish a mechanism by which Tenant’s overtime HVAC usage can be ascertained and recorded (and, at a minimum, Tenant shall maintain accurate records showing all of Tenant’s overtime
HVAC usage and shall provide copies of same to Landlord semi-annually); (c) janitorial service on Business Days in accordance with the specifications set forth in Exhibit J attached hereto; (d) elevator service; (e) electricity
in accordance with the terms and conditions in Section 7.02; and (f) snow and ice removal from the streets and sidewalks serving and/or adjacent to the Property to the extent the same is not provided by the City of Boston, and
(g) such other services as Landlord reasonably determines are necessary or appropriate for the Property. Access to the Building for Tenant and its employees shall be available twenty-four (24) hours per day, seven (7) days per week,
subject to the terms of this Lease. On or before the Commencement Date, Landlord shall install at its expense an electronic card access security system at the main entrance to the Premises to allow Tenant and its authorized employees access
to the Building during non-Building Service Hours. After the installation thereof, Tenant shall have the sole responsibility for operating, maintaining, repairing, and, as necessary, replacing such card access system. Except for the installation of
such card access system, Landlord shall have no responsibility for providing any security service with respect to the Property. 

7.02(a) Electricity of not less than ten (10) watts per rentable square foot of the Premises (for lights, plugs, and HVAC service)
shall be provided to the Premises by Landlord. Landlord represents that the Premises are separately metered for electrical service. From and after delivery of possession of the Premises to Tenant, Tenant shall, as additional rent, pay Landlord the
actual amount paid by Landlord for all electric service to the Premises, including, without limitation, electricity used for the operation of the heating, ventilating, and air-conditioning system serving the Premises. Such additional rent shall be
payable within thirty (30) days after delivery to Tenant of Landlord’s invoice therefor, which invoice shall be accompanied by copies of the invoice(s) from the utility provider evidencing such cost. 

Without the consent of Landlord, Tenant’s use of electrical service shall not exceed the capacity of the electrical distribution
systems and equipment serving the Building, which Landlord represents to be ten (10) watts per rentable square foot of the Premises (for lights, plugs, and HVAC service). 
 (b) Gas service to the Premises, including, without limitation, gas used for the operation of the heating, ventilating, and air-conditioning system serving the Premises shall be provided by Landlord.
Landlord represents that the Premises are separately metered for gas service. From and after delivery of possession of the Premises to Tenant, Tenant shall, as 

  
 9 

 
additional rent, pay Landlord the actual amount paid by Landlord for gas service to the Premises. Such additional rent shall be payable within thirty (30) days after delivery to Tenant of
Landlord’s invoice therefor, which invoice shall be accompanied by copies of the invoice(s) from the utility provider evidencing such cost. 
 7.03 Provided Landlord, diligently after becoming aware of same, pursues the cure of any condition causing an interruption, diminishment or termination of service, Landlord’s failure to furnish, or
any interruption, diminishment or termination of services due to the application of Laws, the failure of any equipment, the performance of repairs, improvements or alterations, utility interruptions or the occurrence of an event of Force Majeure
(defined in Section 26.03) shall not render Landlord liable to Tenant, constitute a constructive eviction of Tenant, give rise to an abatement of Rent, nor relieve Tenant from the obligation to fulfill any covenant or agreement, except as
expressly provided herein. Notwithstanding the foregoing, in the event Landlord is unable to furnish any utility or services required under this Lease such that the Premises or any portion thereof become untenantable or Tenant is denied a reasonable
means of access to the Premises and in either such case Tenant ceases to occupy the Premises (or the affected portion thereof), and such condition continues for a period of more than five (5) days after Tenant gives Landlord notice thereof, the
Base Rent and Additional Rent due hereunder shall abate in proportion to the portion of the Premises affected thereby commencing on the sixth (6th) day until such inability or failure is resolved. Except in the case of emergency, Landlord shall not
intentionally interrupt any services to the Premises during Building Service Hours, and Landlord shall provide not less than 48 hours advance notice of any scheduled interruption of any services to the Premises. 

 

	8.	Leasehold Improvements. 

All improvements in and to the Premises excluding Tenant’s Property (as that term is defined in Section 14 below), including the
Initial Improvements and any Alterations (collectively, “Leasehold Improvements”) shall remain upon the Premises at the end of the Term without compensation to Tenant. Landlord, however, by written notice to Tenant given
concurrently with Landlord’s approval of the applicable Leasehold Improvements to the extent such approval is required hereunder (and otherwise within thirty (30) days after Tenant’s request for such determination with respect to any
work for which Landlord’s approval is not required hereunder), may require Tenant, at its expense, to remove any Initial Improvements or Alterations, other than Cable (defined below), that, in Landlord’s reasonable judgment, are of a
nature that would require removal and repair costs that are materially in excess of the removal and repair costs associated with standard office improvements (collectively referred to as “Required Removables”). Required Removables
shall include, without limitation, internal stairways, raised floors, personal restrooms and showers, vaults, rolling file systems and structural alterations and modifications. The designated Required Removables shall be removed by Tenant before the
Termination Date. Tenant shall repair damage caused by the installation or removal of Required Removables. If Tenant fails to perform its obligations in a timely manner, Landlord may perform such work at Tenant’s expense. Tenant, at the time it
requests approval for a proposed Alteration, may request in writing that Landlord advise Tenant whether the Alteration or any portion of the Alteration is a Required Removable. Within ten (10) days after receipt of Tenant’s written request
accompanied by plans and specifications of the proposed Alterations at issue, Landlord shall advise Tenant in writing as to which portions of the 

  
 10 

 
Alteration are Required Removables. However, it is agreed that Required Removables shall not include any usual office improvements such as gypsum board, partitions Building standard, ceiling
grids and tiles, fluorescent lighting panels, Building standard doors and non-glued down carpeting. 
  

	9.	Repairs and Alterations. 

9.01 Tenant shall, at its sole cost and expense, perform all maintenance and repairs to the Premises (in clarification of the foregoing,
in no event shall Tenant be responsible for performing any maintenance or repair to the exterior of the Building except in connection with any signage or other equipment installed on the roof or exterior of the Building by or for the benefit of
Tenant) that are not Landlord’s express responsibility under this Lease, and keep the Premises in good condition and repair, reasonable wear and tear and damage by casualty (subject to the terms of Article 16) excepted, provided that, subject
to the provisions of Article 15, Tenant shall not be responsible for repairs to the Premises to the extent that any damage is caused by the negligence of Landlord or Landlord’s employees, agents or contractors or by any failure of Landlord to
perform its obligations hereunder. Tenant’s repair and maintenance obligations include, without limitation, repairs to: (a) floor covering; (b) interior partitions; (c) doors; (d) the interior side of demising walls;
(e) electronic, phone and data cabling and related equipment that is installed by or for the exclusive benefit of Tenant (collectively, “Cable”); (f) supplemental air conditioning units, kitchens, including hot water
heaters, plumbing, and similar facilities exclusively serving Tenant; and (g) Alterations. Subject to Section 15, Tenant shall reimburse Landlord for the cost of repairing damage to the Building caused by the negligent or willful acts of
Tenant, Tenant Related Parties and their respective contractors and vendors. If Tenant fails to make any repairs to the Premises for more than thirty (30) days after notice from Landlord (although notice shall not be required in an emergency
immediately threatening life or property), Landlord may make the repairs, and Tenant shall pay the reasonable cost of the repairs, together with an administrative charge in an amount equal to five percent (5%) of the cost of the repairs.

 9.02 Landlord shall keep and maintain in good repair and working order and perform maintenance upon the: (a) the Base
Building; (b) mechanical (including HVAC), electrical, plumbing and fire/life safety systems serving the Building in general; (c) Common Areas; (d) exterior windows of the Building; and (e) elevators serving the Building.
Landlord shall promptly make repairs for which Landlord is responsible. In addition to the foregoing, Landlord shall (i) perform all of its obligations under that certain Declaration of Covenants, Restrictions, Development Standards and
Easements dated January 6, 2009 between Landlord and other parties and recorded with the Suffolk County Registry of Deeds in Book 44571, Page 100 (the “Street Agreement”), and (ii) use commercially reasonable efforts to
enforce for the benefit of Tenant the obligations of the other parties to, and the association responsible for the implementation of, the Street Agreement, with respect to the Common Areas, Infrastructure and Streetscape Improvements (as such terms
are defined in the Street Agreement). 
 9.03 Tenant shall not make alterations, repairs, additions or improvements or install
any Cable (collectively referred to as “Alterations”) without first obtaining the written consent of Landlord in each instance, which consent shall not be unreasonably withheld, conditioned, or delayed. Landlord agrees to respond to
a request for consent within ten (10) business days after receipt of Tenant’s plans and specifications for such Alterations. Landlord’s consent is solely for 

  
 11 

 
the benefit of Landlord, and neither Tenant nor any third party shall have the right to rely on Landlord’s consent, or its approval of Tenant’s plans, for any purpose whatsoever.
However, Landlord’s consent shall not be required for any Alteration that satisfies all of the following criteria (a “Cosmetic Alteration”): (a) is of a cosmetic nature such as painting, wallpapering, hanging pictures and
installing carpeting; (b) will not adversely affect the Base Building; and (c) the cost of such work does not exceed $50,000.00 in each instance. Cosmetic Alterations shall be subject to all the other provisions of this Section 9.03.
Prior to starting work, Tenant shall furnish Landlord with plans and specifications; names of contractors reasonably acceptable to Landlord (provided that Landlord may designate specific contractors with respect to Base Building provided the same
will perform on competitive rates and terms); required permits and approvals; evidence of contractor’s and subcontractor’s insurance in amounts reasonably required by Landlord and naming Landlord as an additional insured. Changes to the
plans and specifications must also be submitted to Landlord for its approval. Alterations shall be constructed in a good and workmanlike manner using materials of a quality reasonably approved by Landlord. Tenant shall reimburse Landlord for any
reasonable sums paid by Landlord for third party examination of Tenant’s plans (in both paper and CAD file formats) for non-Cosmetic Alterations; provided that no reimbursement shall be required in connection with the examination of the plans
for the Initial Improvements. In addition, Tenant shall pay Landlord a fee for Landlord’s oversight and coordination of any Alterations other than Cosmetic Alterations equal to five percent (5%) of the cost of the Alterations; provided
that no fee shall be required in connection with the Initial Improvements. Upon completion, Tenant shall furnish “as-built” plans (in both paper and CAD file formats) for all Alterations other than Cosmetic Alterations, completion
affidavits and full and final waivers of lien. Landlord’s approval of an Alteration shall not be deemed a representation by Landlord that the Alteration complies with Law. 

 

	10.	Entry by Landlord. 

Landlord may enter the Premises to inspect, show or clean the Premises or to perform or facilitate the performance of repairs, alterations
or additions to the Premises or any portion of the Building and for no other purpose without the consent of Tenant, which consent shall not be unreasonably withheld, conditioned, or delayed. Notwithstanding the foregoing, Landlord agrees that it
will not show the Premises to prospective tenants except during the last eighteen (18) months of the Term. Except in emergencies or to provide Building services, Landlord shall provide Tenant with reasonable prior verbal notice of entry and
shall use reasonable efforts to minimize any interference with Tenant’s use of the Premises. If reasonably necessary, Landlord may temporarily close all or a portion of the Premises to perform repairs. However, except in emergencies, Landlord
will not close the Premises if the repairs can reasonably be completed on weekends and after Building Service Hours. Entry by Landlord shall not constitute a constructive eviction or entitle Tenant to an abatement or reduction of Rent. Landlord will
not permit access to the Premises by competitors of Zipcar, Inc. identified by written notice to Landlord from Tenant from time to time. Tenant reserves the right to designate portions of the Premises that may be accessed by Landlord only in the
presence of a representative of Tenant except in case of emergency, and Tenant agrees to make a representative available for such purpose upon reasonable advance notice from Landlord. 

  
 12 

	11.	Assignment and Subletting. 

11.01 Except in connection with a Permitted Transfer (defined in Section 11.04), Tenant shall not assign, sublease, transfer or
encumber any interest in this Lease or allow any third party to use any portion of the Premises (collectively or individually, a “Transfer”) without the prior written consent of Landlord, which consent shall not be unreasonably
withheld, conditioned or delayed if Landlord does not exercise its recapture rights under Section 11.02. In connection with any request for approval of a Transfer, Tenant shall provide Landlord with financial statements for the proposed
transferee (except that financial statements shall not be required in connection with a proposed sublease of less than thirty-three percent (33%) of the rentable area of the Premises, in the aggregate with all other then-extant subleases), a
fully executed copy of the proposed assignment, sublease or other Transfer documentation and such other information as Landlord may reasonably request within ten (10) days of Landlord’s receipt of Tenant’s request for consent. Within
fifteen (15) Business Days after receipt of the required information and documentation, Landlord shall, at its election, either: (a) consent to the Transfer by execution of a consent agreement in a form reasonably designated by Landlord;
(b) reasonably refuse to consent to the Transfer in writing. Without limitation, it will not be unreasonable for Landlord to withhold consent to a proposed Transfer to (i) any prospective occupant of the complex of buildings owned by
Landlord of which the Building is a part (the “Complex”) to whom Landlord has offered space in the Complex within the two (2) month period immediately previous to the Tenant’s request for consent to the proposed Transfer
or (ii) any other occupant of the Complex if either Landlord has available space in the Complex comparable to the space being offered by Tenant or the occupancy by such other occupant of the space being offered by Tenant will directly cause a
vacancy in the premises which such other occupant currently occupies in the Complex. Tenant shall pay Landlord a review fee of $1,500.00 for Landlord’s review of any Permitted Transfer or requested Transfer. Any attempted Transfer in violation
of this Section is voidable by Landlord. In no event shall any Transfer, including a Permitted Transfer, release or relieve Tenant from any obligation under this Lease. 
 11.02 If Tenant intends to market the Premises for an assignment of this Lease or subletting of more than fifty percent (50%) of the Rentable Area of the Premises (other than in connection with a
Permitted Transfer), Tenant shall notify Landlord thereof (“Transfer Notice”), and Landlord shall have forty-five (45) days after receipt of the Transfer Notice to notify Tenant that Landlord elects to recapture the portion of the
Premises that Tenant is proposing to Transfer. If Landlord exercises its right to recapture, this Lease shall automatically be amended (or terminated if the entire Premises is being assigned or sublet) to delete the applicable portion of the
Premises effective on the proposed effective date of the Transfer and Tenant’s Base Rent and Pro Rata Share shall be appropriately adjusted. To the extent the recapture relates to less than the entire Premises, Landlord shall be responsible for
separately demising the recapture portion from the remaining Premises, creating appropriate Common Areas (including a common lobby area in the first floor of the Building where Tenant will have signage typical of a tenant for the size of Tenant at
such time), separately metering all utilities and making other adjustments to reflect the multi-tenant nature of the Building. 

If Landlord does not elect to recapture the Premises or such portion thereof within such forty-five day period, then Tenant shall have
the right, subject to the other provisions of this Article 11 to enter into a Transfer with respect to the Premises or such portion for a period of one 

  
 13 

 
hundred eighty (180) days after the expiration of such forty-five-day-period or such earlier date on which Landlord notifies Tenant that Landlord declines to recapture. If Tenant fails to
enter into a Transfer within such one hundred eighty day-period, then, before entering into any subsequent Transfer, Tenant shall again give Landlord the right to recapture the Premises, or the portion thereof proposed to be sublet, pursuant to this
Section 11.02. 
 11.03 Tenant shall pay Landlord fifty percent (50%) of all rent and other consideration which Tenant
receives as a result of a Transfer (other than a Permitted Transfer) that is in excess of the Rent payable to Landlord for the portion of the Premises and Term covered by the Transfer, after first deducting therefrom all reasonable, out of pocket
expenses incurred by Tenant in order to effect such Transfer, including, without limitation, attorneys’ fees, construction costs, tenant improvement allowances, marketing costs, brokerage fees, and any free rent. Tenant shall pay Landlord for
Landlord’s share of the excess within thirty (30) days after Tenant’s receipt of the excess. If Tenant is in Default, Landlord may require that all sublease payments be made directly to Landlord, in which case Tenant shall receive a
credit against Rent in the amount of Tenant’s share of payments received by Landlord. 
 11.04 Tenant may assign this Lease
to a successor to Tenant by purchase, merger, consolidation or reorganization (an “Ownership Change”) or assign this Lease or sublet all or a portion of the Premises to an Affiliate without the consent of Landlord, provided that all
of the following conditions are satisfied (a “Permitted Transfer”): (a) Tenant is not in Default; (b) in the event of an Ownership Change, Tenant’s successor shall own substantially all of the assets of Tenant and
will have a net worth immediately after the Ownership Change which is at least equal to Tenant’s net worth as of the day prior to the proposed Ownership Change; (c) the Permitted Use does not allow the Premises to be used for retail
purposes; and (d) Tenant shall give Landlord written notice at least fifteen (15) Business Days prior to the effective date of the Permitted Transfer to the extent permitted by applicable law and otherwise immediately after the Permitted
Transfer. Landlord shall not disclose the existence of a Permitted Transfer to any other person or entity until the same is publicly announced by Tenant or otherwise becomes public knowledge. Tenant’s notice to Landlord shall include
information and documentation evidencing the Permitted Transfer and showing that each of the above conditions has been satisfied. If requested by Landlord, Tenant’s successor shall sign a commercially reasonable form of assumption agreement.
“Affiliate” shall mean an entity controlled by, controlling or under common control with Tenant (for such period of time as such entity continues to be controlled by, controlling or under common control with Tenant, it being agreed
that the subsequent sale or transfer of stock resulting in a change in voting control, or any other transaction(s) having the overall effect that such entity ceases to be controlled by, controlling or under common control with Tenant, shall be
treated as if such sale or transfer or transaction(s) were, for all purposes, an assignment of this Lease governed by the provisions of this Article 11). 
  

	12.	Liens. 

 Tenant shall not
permit mechanics’ or other liens to be placed upon the Property, Premises or Tenant’s leasehold interest in connection with any work or service done or purportedly done by or for the benefit of Tenant or its transferees (it being agreed
that the filing of a Notice of Contract shall not be deemed to constitute a lien unless a Statement of Account is filed thereafter with respect thereto). Tenant shall give Landlord notice at least fifteen (15) days

  
 14 

 
prior to the commencement of any work in the Premises to afford Landlord the opportunity, where applicable, to post and record notices of non-responsibility. Tenant, within ten (10) days of
notice from Landlord, shall fully discharge any lien by settlement, by bonding or by insuring over the lien in the manner prescribed by the applicable lien Law. If Tenant fails to do so, Landlord may bond, insure over or otherwise discharge the
lien. Tenant shall reimburse Landlord for any amount paid by Landlord, including, without limitation, reasonable attorneys’ fees, plus an administrative fee equal to five percent (5%) of the amount otherwise paid by Landlord. Landlord
shall have the right to require Tenant to post a performance or payment bond in connection with any work or service done or purportedly done by or for the benefit of Tenant to the extent the same is reasonably expected to cost in excess of $250,000
but no bond shall be required by Landlord with respect to the Initial Alterations if the general contractor is Structuretone or JDL Construction. Tenant acknowledges and agrees that all such work or service is being performed for the sole benefit of
Tenant and not for the benefit of Landlord. 
  

	13.	Indemnity and Waiver of Claims. 

 Tenant hereby waives all claims against and releases Landlord and its trustees, members, principals, beneficiaries, partners, officers, directors, employees, Mortgagees (defined in Article 23) and agents
(the “Landlord Related Parties”) from all claims for any damage to property or business loss in any manner related to (a) Force Majeure, (b) acts of third parties other than any agent or contractor of Landlord,
(c) the bursting or leaking of any tank, water closet, drain or other pipe, unless due to or arising out of the negligence or willful misconduct of the Landlord or any of Landlord’s contractors, employees, or agents, (d) the
inadequacy or failure of any security services, personnel or equipment, unless due to or arising out of the negligence or willful misconduct of the Landlord or any of Landlord’s contractors, employees, or agents, or (e) any matter not
within the reasonable control of Landlord. In addition to the foregoing Tenant agrees that Landlord shall have no responsibility or liability whatsoever for any loss or damage, however caused, to furnishings, fixtures, equipment, or other personal
property of Tenant or of any persons claiming by, through, or under Tenant except to the extent caused by the negligence or willful misconduct of Landlord or any of Landlord’s contractors, employees, or agents but subject to Section 15
below. Except to the extent caused by the negligence or willful misconduct of Landlord or any of Landlord’s contractors, employees, or agents, Tenant shall indemnify, defend and hold Landlord and Landlord Related Parties harmless against and
from all liabilities, obligations, damages, penalties, claims, actions, costs, charges and expenses, including, without limitation, reasonable attorneys’ fees and other professional fees (if and to the extent permitted by Law) (collectively
referred to as “Losses”), which may be imposed upon, incurred by or asserted against Landlord or any of the Landlord Related Parties by any third party and arising out of or in connection with (i) any damage or injury occurring
in the Premises or (ii) any negligence or willful misconduct (including violations of Law) of Tenant, the Tenant Related Parties or any of Tenant’s transferees, contractors, licensees, employees or agents. Except to the extent caused by
the negligence or willful misconduct of Tenant or any Tenant Related Parties or any of Tenant’s transferees, contractors, licensees, employees or agents, Landlord shall indemnify, defend and hold Tenant, its trustees, members, principals,
beneficiaries, partners, officers, directors, and employees (“Tenant Related Parties”) harmless against and from all Losses which may be imposed upon, incurred by or asserted against Tenant or any of the Tenant Related Parties by
any third party and arising out of or in connection with the negligence or willful misconduct (including violations of Law) of Landlord or any of Landlord’s contractors, employees or agents. 

  
 15 

	14.	Insurance. 

 (a)
Tenant’s Insurance. Tenant shall obtain, and shall keep in full force and effect, the following insurance, with insurers that are authorized to do business in the Commonwealth of Massachusetts and are rated at least A (Class X) in
Best’s Key Rating Guide: 
 (i) Commercial General Liability Insurance, which shall include premises liability, contractual
liability covering Tenant’s indemnity obligations under Section 13 of this Lease (to the extent covered as an Insured Contract in a standard ISO GCL Policy), all risk legal liability, personal & advertising injury and
products/completed operations coverage. Policy shall insure against claims for bodily injury, personal injury, death or property damage occurring on, in or about the Premises with limits of not less than $1,000,000.00 per occurrence and
$2,000,000.00 in the aggregate. 
 (ii) Special Form (“All Risk”) Property, insuring all equipment, trade
fixtures, inventory, fixtures and personal property (“Tenant’s Property”) and any Alterations or other Leasehold Improvements which are the responsibility of Tenant, located on or in the Premises with an agreed amount
endorsement and equal to the full replacement cost value of such property. 
 (iii) Workers’ Compensation Insurance as
required by applicable laws of the State in which the Premises is located, including Employers’ Liability Insurance with limits of not less than: (x) $500,000 per accident; (y) $500,000 disease, policy limit; and (z) $500,000
disease, each employee. 
 (iv) Excess or Umbrella Liability Insurance with limits of not less than Four Million Dollars
($4,000,000.00) per occurrence and in the aggregate providing coverage excess and follow-form of the primary general and employer’s liability insurances required hereinto. 

(v) Such other insurance as Landlord reasonably deems necessary and prudent or as may be required by any Mortgagee (defined below).

 (vi) In addition to the above aforementioned insurances, and during any such time as any alterations or work is being
performed at the Premises (except that work being performed by the Landlord or on behalf of Landlord) Tenant, at its sole cost and expense, shall carry, or shall cause to be carried and shall deliver to Landlord at least ten (10) days prior to
commencement of any such alteration or work, evidence of insurance with respects to (a) workers compensation insurance covering all persons employed in connection with the proposed alteration or work in statutory

  
 16 

 
limits, (b) general/excess liability insurance, in an amount commensurate with the work to be performed but not less than Three Million Dollars ($3,000,000) per occurrence and in the
aggregate, for ongoing and completed operations insuring against bodily injury and property damage and naming all additional insured parties as outlined below and required of Tenant and shall include a waiver of subrogation in favor of such parties,
(c) builders risk insurance, to the extent such alterations or work may require, on a completed value form including permission to occupy, covering all physical loss or damages, in an amount and kind reasonable satisfactory to Landlord, and
(d) such other insurance, in such amounts, as Landlord deems reasonably necessary to protect Landlord’s interest in the Premises from any act or omission of Tenant’s contactors or subcontractors. 

(b) Policy Requirements. The policies of insurance required to be maintained by Tenant pursuant to this Section 14 must be
reasonably satisfactory to Landlord and must be written as primary policy coverage and not contributing with, or in excess of, any coverage carried by Landlord. All policies must name Tenant as the named insured party and (except for worker’s
compensation and property insurance) all policies shall name as additional insureds for on-going and completed operations, Landlord, Crosspoint Associates, Inc., the Mortgagee under any Mortgage (as those terms are defined below), and
Landlord’s managing agent, if any. In addition Tenant agrees and shall provide thirty (30) days’ prior written notice of suspension, cancellation, termination, or non-renewal of coverage to Landlord. Tenant shall not self-insure for
any insurance coverage required to be carried by Tenant under this Lease. The deductible for any insurance policy required hereunder must not exceed $100,000.00. Tenant shall have the right to provide the insurance coverage required under this Lease
through a blanket policy, provided such blanket policy expressly affords coverage to the Premises and to Landlord as required by this Lease. 
 (c) Certificates of Insurance. Prior to the Commencement Date, Tenant shall deliver to Landlord certificates of insurance evidencing all insurance Tenant is obligated to carry under this Lease,
together with a copy of the endorsement(s), specifically but not limited to Waiver of Rights to Recover From Others, Additional Insureds (on-going and completed operations) and Contractual Liability endorsements. Within ten (10) days prior to
the expiration of any such insurance, Tenant shall deliver to Landlord certificates of insurance evidencing the renewal of such insurance. Tenant’s certificates of insurance must be on: (i) Acord Form 27 with respect to property insurance;
and (ii) Acord Form 25-S with respect to liability insurance or, in each case, on successor forms approved by Landlord, and in any event state Landlord as the certificate holder. 

(d) No Separate Insurance. Tenant shall not obtain or carry separate insurance concurrent in form or contributing in the event of
loss with that required by Section 14(a) unless Landlord and Tenant are named as insureds therein. 
 (e) Tenant’s
Failure to Maintain Insurance. If Tenant fails to maintain the insurance required by this Lease, which failure continues for more than two (2) business days after notice to Tenant thereof. Landlord may, but shall not be obligated to,
obtain, and pay the premiums for, such insurance. Upon demand, Tenant shall pay to Landlord all amounts paid by Landlord pursuant to this Section 14(e). 

  
 17 

 (f) Landlord’s Insurance. Landlord, shall at all times during the Term of
this Lease procure and keep in force (i) commercial general liability insurance, which includes contractual liability coverage for Landlord’s indemnity obligations set forth in Section 13 above at limits no less than $2,000,000 per
occurrence and $4,000,000 annual aggregate and, (ii) Special Form “All Risk” property insurance covering the full replacement cost of the Building with no coinsurance limitation and including all coverages and perils as required by
Landlord’s mortgagee, including, without limitation, earthquake and flood insurance. 
  

	15.	Subrogation. 

 Landlord
and Tenant agree to have all property insurance policies which are required to be carried by either of them hereunder endorsed to provide that the insurer waives all rights of subrogation which such insurer might have against the other party and
Landlord’s mortgagee, if any. By this clause, the parties intend and hereby agree that the risk of loss or damage to property shall be borne by the parties’ insurance carriers. It is hereby agreed that Landlord and Tenant shall
look solely to, and seek recovery from, only their respective insurance carriers in the event a loss is sustained for which Property Insurance is carried or is required to be carried under this Lease. Without limiting any release or waiver of
liability or recovery contained in any other Section of this Lease but rather in confirmation and furtherance thereof, Landlord waives all claims for recovery from Tenant, and Tenant waives all claims for recovery from Landlord, and their respective
agents, partners and employees, for any loss or damage to any of its property insured under the insurance policies required hereunder including but not limited to any business interruption, loss of income or special, indirect or consequential
damages. The provisions of this Section 15 will survive the expiration or earlier termination of this Lease. 
  

	16.	Casualty Damage. 

 16.01
If all or any portion of the Premises or Building becomes untenantable by fire or other casualty to the Premises (collectively a “Casualty”), Landlord, with reasonable promptness (not to exceed forty-five (45) days after the
Casualty), shall cause a general contractor selected by Landlord to provide Landlord and Tenant with a good faith written estimate of the amount of time required using standard working methods to Substantially Complete the repair and restoration of
the Premises and the Building (“Completion Estimate”). If the Completion Estimate indicates that the Premises or Building cannot be restored within two hundred ten (210) days from the date of the Casualty, then either party
shall have the right to terminate this Lease upon written notice to the other within ten (10) days after receipt of the Completion Estimate. In addition, Landlord, by notice to Tenant within ninety (90) days after the date of the Casualty,
shall have the right to terminate this Lease if: (1) the Premises have been materially damaged (i.e., damaged such that the restoration thereof will, in the ordinary course, require more than sixty (60) days to complete after the
commencement of such work) and there is less than seventeen (17) months of the Term remaining on the date of the Casualty; (2) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (3) a
material uninsured loss to the Building occurs provided Landlord maintained the Property insurance required under Section 14(f)(ii). 

  
 18 

 16.02 If this Lease is not terminated, Landlord shall promptly and diligently, subject to
reasonable delays for insurance adjustment or other matters beyond Landlord’s reasonable control, restore the Premises and the Building. Such restoration shall be to substantially the same condition that existed prior to the Casualty, except
for modifications required by Law. Upon notice from Landlord, Tenant shall assign to Landlord (or to any party designated by Landlord) all property insurance proceeds payable to Tenant under Tenant’s Insurance with respect to any Leasehold
Improvements performed by or for the benefit of Tenant; provided if the estimated cost to repair such Leasehold Improvements exceeds the amount of insurance proceeds received by Landlord from Tenant’s insurance carrier, the excess cost of such
repairs shall be paid by Tenant to Landlord prior to Landlord’s commencement of repairs. Landlord shall not be liable for any inconvenience to Tenant, or injury to Tenant’s business resulting in any way from the Casualty or the repair
thereof. Provided that Tenant is not in Default, during any period of time that all or a material portion of the Premises is rendered untenantable as a result of a Casualty, the Rent shall abate for the portion of the Premises that is untenantable
and not used by Tenant. In the event Landlord has not Substantially Completed the restoration of the Building or the Premises by the later of (i) two hundred and ten (210) days from the Casualty, or (ii) the period set forth in the
Completion Estimate, then Tenant may elect to terminate this Lease by giving Landlord notice of such election at any time after the expiration of the applicable period and before Landlord has Substantially Completed such restoration. If Tenant so
elects, then this Lease shall terminate on the date that is thirty (30) days after delivery of Tenant’s termination notice with the same force and effect as if such date were the Termination Date unless, on or before the expiration of such
thirty-day period, Landlord has Substantially Completed such restoration, in which event Tenant’s termination election shall automatically become void. 
  

	17.	Condemnation. 

 Either
party may terminate this Lease if any material part of the Premises is taken or condemned for any public or quasi public use under Law, by eminent domain or private purchase in lieu thereof (a “Taking”). The terminating party shall
provide written notice of termination to the other party within forty-five (45) days after it first receives notice of the Taking. The termination shall be effective on the date the physical taking occurs. If this Lease is not terminated, Base
Rent and Tenant’s Pro Rata Share shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord. The right to receive
compensation or proceeds is expressly waived by Tenant, however, Tenant may file a separate claim for Tenant’s Property and Tenant’s reasonable relocation expenses, provided the filing of the claim does not diminish the amount of
Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition
immediately prior to the Taking. 
  

	18.	Events of Default. 

 Each
of the following occurrences shall be a “Default”: (a) Tenant’s failure to pay any portion of Rent when due, if the failure continues for ten (10) days after written notice to Tenant (“Monetary
Default”); (b) Tenant’s failure (other than a Monetary Default) to comply with any term, provision, condition or covenant of this Lease, if the failure is not cured within thirty (30) days after written notice to Tenant
provided, however, if Tenant’s failure to comply cannot 

  
 19 

 
reasonably be cured within thirty (30) days, Tenant shall be allowed additional time (not to exceed an additional thirty (30) days) as is reasonably necessary to cure the failure so
long as Tenant begins the cure within ten (10) days after such notice to Tenant and diligently pursues the cure to completion; (c) Tenant or any Guarantor becomes insolvent, makes a transfer in fraud of creditors, makes an assignment for
the benefit of creditors, admits in writing its inability to pay its debts when due or forfeits or loses its right to conduct business; (d) the leasehold estate is taken by process or operation of Law. If Landlord provides Tenant with notice of
Tenant’s failure to comply with any specific provision of this Lease on three (3) separate occasions during any twelve-(12)-month period, Tenant’s subsequent violation of such provision shall, at Landlord’s option, be an
incurable Default by Tenant. All notices sent under this Article shall be in satisfaction of, and not in addition to, notice required by Law. 
  

	19.	Remedies. 

 19.01 Upon
Default, Landlord shall have the right to pursue any one or more of the following remedies: 
 (a) Terminate this Lease, in
which case Tenant shall immediately surrender the Premises to Landlord. If Tenant fails to surrender the Premises, Landlord, in compliance with Law, may enter upon and take possession of the Premises and remove Tenant, Tenant’s Property and any
party occupying the Premises. Tenant shall pay Landlord, on demand, all past due Rent and other losses and damages Landlord suffers as a result of Tenant’s Default, including, without limitation, all Costs of Reletting (defined below) and any
deficiency that may arise from reletting or the failure to relet the Premises. “Costs of Reletting” shall include all reasonable costs and expenses incurred by Landlord in reletting or attempting to relet the Premises, including,
without limitation, legal fees, brokerage commissions and marketing expenses, the cost of alterations and the value of other commercially reasonable concessions or allowances granted to a new tenant. 

(b) Terminate Tenant’s right to possession of the Premises and, in compliance with Law, remove Tenant, Tenant’s Property and
any parties occupying the Premises. Landlord may (but, except as expressly provided below, shall not be obligated to) relet all or any part of the Premises, without notice to Tenant, for such period of time and on such terms and conditions (which
may include concessions, free rent and work allowances) as Landlord in its absolute discretion shall determine. Landlord may collect and receive all rents and other income from the reletting. Tenant shall pay Landlord on demand all past due Rent,
all Costs of Reletting and any deficiency arising from the reletting or failure to relet the Premises. The re-entry or taking of possession of the Premises shall not be construed as an election by Landlord to terminate this Lease. 

(c) Landlord shall use reasonable efforts to relet the Premises on such terms as Landlord in its sole discretion may determine (including
a term different from the Term, rental concessions, and alterations to, and improvement of, the Premises); however, Landlord shall not be obligated to relet the Premises before leasing other portions of the Building. Landlord shall not be liable
for, nor shall Tenant’s obligations hereunder be diminished because of, Landlord’s failure to relet the Premises or to collect rent due for such reletting. 

  
 20 

 19.02 In lieu of calculating damages under Section 19.01, Landlord may elect to receive
as damages the sum of (a) all Rent accrued through the date of termination of this Lease or Tenant’s right to possession, and (b) an amount equal to (i) the total Rent that Tenant would have been required to pay for the remainder
of the Term discounted to present value using the then applicable so-called Federal Discount Rate less (ii) the then fair market rental value of the Premises for the remainder of the Term, discounted to present value as aforesaid. If Tenant is
in Default of any of its non-monetary obligations under the Lease, Landlord shall have the right to perform such obligations. Tenant shall reimburse Landlord for the cost of such performance upon demand together with an administrative charge equal
to ten percent (10%) of the cost of the work performed by Landlord. The repossession or re-entering of all or any part of the Premises shall not relieve Tenant of its liabilities and obligations under this Lease. No right or remedy of Landlord
shall be exclusive of any other right or remedy. Each right and remedy shall be cumulative and in addition to any other right and remedy now or subsequently available to Landlord at Law or in equity. 

 

	20.	Limitation of Liability. 

NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED IN THIS LEASE, THE LIABILITY OF LANDLORD (AND OF ANY SUCCESSOR LANDLORD) SHALL BE
LIMITED TO LANDLORD’S INTEREST IN THE PROPERTY (INCLUDING THE UNDISTRIBUTED RENTS AND PROCEEDS THEREFROM) AND ANY INSURANCE PROCEEDS FOR THE RECOVERY OF ANY JUDGMENT OR AWARD AGAINST LANDLORD OR ANY LANDLORD RELATED PARTY. NONE OF TENANT,
LANDLORD NOR ANY TENANT RELATED PARTY OR LANDLORD RELATED PARTY SHALL BE PERSONALLY LIABLE FOR ANY JUDGMENT OR DEFICIENCY, AND IN NO EVENT SHALL LANDLORD OR ANY LANDLORD RELATED PARTY BE LIABLE TO TENANT OR TENANT OR ANY TENANT RELATED PARTY BE
LIABLE TO LANDLORD FOR ANY LOST PROFIT, DAMAGE TO OR LOSS OF BUSINESS OR ANY FORM OF SPECIAL, INDIRECT OR CONSEQUENTIAL DAMAGE EXCEPT AS PROVIDED IN SECTION 22 BELOW. BEFORE FILING SUIT FOR AN ALLEGED DEFAULT BY LANDLORD, TENANT SHALL GIVE LANDLORD
AND THE MORTGAGEE(S) WHOM TENANT HAS BEEN NOTIFIED HOLD MORTGAGES (DEFINED IN ARTICLE 23 BELOW), NOTICE AND REASONABLE TIME TO CURE THE ALLEGED DEFAULT. WITHOUT LIMITING THE FOREGOING, IN NO EVENT SHALL LANDLORD OR ANY MORTGAGEES OR LANDLORD RELATED
PARTIES EVER BE LIABLE FOR ANY CONSEQUENTIAL OR INCIDENTAL DAMAGES OR ANY LOST PROFITS OF TENANT. 
 LANDLORD AND TENANT
EXPRESSLY DISCLAIM ANY IMPLIED WARRANTY THAT THE PREMISES ARE SUITABLE FOR TENANT’S INTENDED COMMERCIAL PURPOSE, AND TENANTS OBLIGATION TO PAY RENT HEREUNDER IS NOT DEPENDENT UPON THE CONDITION OF THE PREMISES OR THE PERFORMANCE BY LANDLORD OF
ITS OBLIGATIONS HEREUNDER, AND, EXCEPT AS OTHERWISE EXPRESSLY PROVIDED HEREIN, TENANT SHALL CONTINUE TO PAY THE RENT, WITHOUT ABATEMENT, SETOFF OR DEDUCTION, NOTWITHSTANDING ANY BREACH BY LANDLORD OF ITS DUTIES OR OBLIGATIONS HEREUNDER, WHETHER
EXPRESS OR IMPLIED. 

  
 21 

	21.	Intentionally Omitted. 

  

	22.	Holding Over. 

 If Tenant
fails to surrender all or any part of the Premises at the termination of this Lease, occupancy of the Premises after termination shall be that of a tenancy at sufferance. Tenant’s occupancy shall be subject to all the terms and provisions of
this Lease, and Tenant shall pay an amount (prorated for partial months during the holdover) equal to one hundred fifty percent (150%) of the sum of the Base Rent and Additional Rent for the first thirty (30) days of any such holdover and
thereafter two hundred percent (200%) of the sum of the Base Rent and Additional Rent (and such payment of increased Additional Rent shall not be subject to any annual reconciliation based upon actual expenses) due for the period immediately
preceding the holdover. No holdover by Tenant or payment by Tenant after the termination of this Lease shall be construed to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or
otherwise. If Landlord is unable to deliver possession of the Premises to a new tenant or to perform improvements for a new tenant as a result of Tenant’s holdover that continues for more than thirty (30) days, Tenant shall be liable for
all damages that Landlord suffers from the holdover. 
  

	23.	Subordination to Mortgages; Estoppel Certificate. 

 Subject to Landlord’s delivery of an SNDA (defined below) for the benefit of Tenant as provided below, Tenant accepts this Lease subject and subordinate to the lien of any mortgage(s), deed(s) of
trust, ground lease(s) or other lien(s) now or subsequently arising upon the Premises, the Building or the Property, and to the lien of renewals, modifications, refinancings and extensions thereof (collectively referred to as a
“Mortgage”). The party having the benefit of a Mortgage shall be referred to as a “Mortgagee”. As an alternative, a Mortgagee shall have the right at any time to subordinate its Mortgage to this Lease. Upon request,
Tenant, without charge, shall attorn to any successor to Landlord’s interest in this Lease, provided, however, that the subordination of this Lease to any mortgage or ground lease entered into after the date of this Lease shall be upon the
express condition that so long as Tenant is not in Default of the Lease beyond applicable notice and cure periods, Tenant’s possession and enjoyment of the Premises and Tenant’s rights under this Lease shall not be disturbed or interfered
with in the event of a foreclosure of such mortgage or lease or the exercise of any rights thereunder. Landlord and Tenant shall each, within fifteen (15) days after receipt of a written request from the other, execute and deliver a
commercially reasonable estoppel certificate to those parties as are reasonably requested by the other (including a Mortgagee or prospective purchaser). Without limitation, such estoppel certificate may include a certification as to the status of
this Lease, the existence of any Defaults and the amount of Rent that is due and payable. 
 Notwithstanding the foregoing,
Landlord will obtain a non-disturbance, subordination and attornment agreement (an “SNDA”) from (i) Landlord’s current Mortgagee on such Mortgagee’s current standard form of agreement, a copy of which is attached
hereto as Exhibit H, concurrently with the execution of this Lease and as a condition to Tenant’s obligations hereunder, and (ii) any future Mortgagee in a commercially reasonable form as a condition of Tenant’s subordination
as contained herein. Tenant will execute each such SNDA and return the same to Landlord for execution by the Mortgagee within fifteen (15) days after delivery thereof 

  
 22 

 
to Tenant. Landlord represents that (i) Yellow Brick Real Estate Capital I, LLC holds the only Mortgage encumbering the Premises as of the date of this Lease (the “Existing
Mortgage”), (ii) no default exists or has been threatened by Mortgagee under the Existing Mortgage, and (iii) the maturity date of the Existing Mortgage is August 16, 2017. 

 

	24.	Notice. 

 All demands,
approvals, consents or notices (collectively referred to as a “notice”) shall be in writing and delivered by hand or sent by registered or certified mail with return receipt requested or sent by overnight or same day courier service
at the party’s respective Notice Address(es) set forth in Article 1. Each notice shall be deemed to have been received on the earlier to occur of actual delivery or the date on which delivery is refused, or, if Tenant has vacated the Premises
or any other Notice Address of Tenant without providing a new Notice Address, three (3) days after notice is deposited in the U.S. mail or with a courier service in the manner described above. Either party may, at any time, change its Notice
Address (other than to a post office box address) by giving the other party written notice of the new address. 
  

	25.	Surrender of Premises. 

At the termination of this Lease or Tenant’s right of possession, Tenant shall remove Tenant’s Property from the Premises, and
quit and surrender the Premises to Landlord, broom clean, and in good order, condition and repair, ordinary wear and tear and damage by fire or other casualty, and damage caused by Landlord or any Landlord Related Party excepted. If Tenant fails to
remove any of Tenant’s Property within two (2) days after termination of this Lease or Tenant’s right to possession, Landlord, at Tenant’s sole cost and expense, shall be entitled (but not obligated) to remove and store
Tenant’s Property. Landlord shall not be responsible for the value, preservation or safekeeping of Tenant’s Property. Tenant shall pay Landlord, upon demand, the expenses and storage charges incurred, plus an administrative fee in an
amount equal to ten percent (10%) of such expenses and charges. If Tenant fails to remove Tenant’s Property from the Premises or storage, within thirty (30) days after notice, Landlord may deem all or any part of Tenant’s
Property to be abandoned and title to Tenant’s Property shall vest in Landlord. 
  

	26.	Miscellaneous. 

 26.01
This Lease shall be interpreted and enforced in accordance with the Laws of the state or commonwealth in which the Building is located and Landlord and Tenant hereby irrevocably consent to the jurisdiction and proper venue of such state or
commonwealth. If any term or provision of this Lease shall to any extent be void or unenforceable, the remainder of this Lease shall not be affected. If there is more than one Tenant or if Tenant is comprised of more than one party or entity, the
obligations imposed upon Tenant shall be joint and several obligations of all the parties and entities, and requests or demands from any one person or entity comprising Tenant shall be deemed to have been made by all such persons or entities.
Notices to any one person or entity shall be deemed to have been given to all persons and entities. Each party represents and warrants to the other that each individual executing this Lease on its behalf is authorized to do so. 

  
 23 

 26.02 If either party institutes a suit against the other for violation of or to enforce any
covenant, term or condition of this Lease, the prevailing party shall be entitled to all of its costs and expenses, including, without limitation, reasonable attorneys’ fees. Landlord and Tenant hereby waive any right to trial by jury in any
proceeding based upon a breach of this Lease. Either party’s failure to declare a Default immediately upon its occurrence, or delay in taking action for a Default, shall not constitute a waiver of the Default, nor shall it constitute an
estoppel. 
 26.03 Whenever a period of time is prescribed for the taking of an action by Landlord or Tenant (other than the
payment of the Security Deposit or Rent), the period of time for the performance of such action shall be extended by the number of days that the performance is actually delayed due to strikes, acts of God, shortages of labor or materials, war,
terrorist acts, civil disturbances and other causes beyond the reasonable control of the performing party (“Force Majeure”). 
 26.04 Landlord shall have the right to transfer and assign, in whole or in part, all of its rights and obligations under this Lease and in the Building and Property. Upon transfer and assumption by the
successor, Landlord shall be released from any further obligations hereunder and Tenant agrees to look solely to the successor in interest of Landlord for the performance of such obligations. 

26.05 Landlord has delivered a copy of this Lease to Tenant for Tenant’s review only and the delivery of it does not constitute an
offer to Tenant or an option. Each party represents that it has dealt directly with only the Broker as a broker in connection with this Lease. Tenant shall indemnify and hold Landlord and the Landlord Related Parties harmless from all claims of any
other brokers claiming to have represented Tenant in connection with this Lease. Landlord shall indemnify and hold Tenant and the Tenant Related Parties harmless from all claims of any brokers claiming to have represented Landlord in connection with
this Lease. Landlord shall be responsible for any fees or commissions due to the Broker. 
 26.06 Time is of the essence with
respect to Tenant’s exercise of any expansion or extension rights granted to Tenant. The expiration of the Term, whether by lapse of time, termination or otherwise, shall not relieve either party of any obligations which accrued prior to or
which may continue to accrue after the expiration or termination of this Lease. 
 26.07 Neither Landlord nor any one claiming
by, through or under Landlord shall disturb Tenant’s use of the Premises, subject to the terms of this Lease, provided Tenant pays the Rent and fully performs all of its covenants and agreements. This covenant shall be binding upon Landlord and
its successors only during its or their respective periods of ownership of the Building. 
 26.08 This Lease does not grant any
rights to light or air over or about the Building. Landlord excepts and reserves exclusively to itself any and all rights not specifically granted to Tenant under this Lease. This Lease constitutes the entire agreement between the parties and
supersedes all prior agreements and understandings related to the Premises, including all lease proposals, letters of intent and other documents. Neither party is relying upon any warranty, statement or representation not contained in this Lease.
This Lease may be modified only by a written agreement signed by an authorized representative of Landlord and Tenant. 

  
 24 

 26.09 Tenant shall not record this Lease or any memorandum or notice without Landlord’s
prior written consent; provided, however, Landlord agrees to consent to the recordation or registration of a memorandum or notice of this Lease, at Tenant’s cost and expense (and in a form reasonably satisfactory to Landlord), if the initial
Term of this Lease or the initial Term plus extension terms granted exceed, in the aggregate, 7 years. Landlord and Tenant each agrees to execute, acknowledge, and deliver to the other party a notice of lease with respect to this Lease concurrently
with the execution and delivery of this Lease. If this Lease is terminated before the Term expires, upon Landlord’s request the parties shall execute, deliver and record an instrument acknowledging the above and the date of the termination of
this Lease, and Tenant appoints Landlord its attorney-in-fact in its name and behalf to execute the instrument if Tenant shall fail to execute and deliver the instrument after Landlord’s request therefor within ten (10) days. 

26.10 Within fifteen (15) days after Landlord’s request, Tenant will furnish Tenant’s most recent audited financial
statements (including any notes to them) to Landlord, or, if no such audited statements have been prepared, such other financial statements (and notes to them) as may have been prepared by an independent certified public accountant or, failing
those, Tenant’s internally prepared financial statements. Notwithstanding the foregoing, Tenant shall have no obligation to provide to Landlord financial statements as provided in the preceding sentence more often than once per year during the
Term. Tenant will discuss its financial statements with Landlord and will give Landlord access to Tenant’s books and records in order to enable Landlord to verify the financial statements. Landlord will not disclose any aspect of Tenant’s
financial statements that Tenant designates to Landlord as confidential except (1) to Landlord’s lenders or prospective purchasers of the Building, (2) in litigation between Landlord and Tenant, and (3) if required by court
order. Notwithstanding the foregoing, Landlord, however, shall not require Tenant to provide such information unless Landlord is requested to produce the information in connection with a proposed financing or sale of the Building or upon an Event of
Default by Tenant. Upon written request by Tenant, Landlord shall enter into a commercially reasonable confidentiality agreement covering any confidential information that is disclosed by Tenant. The provisions of this Section 26.10 shall not
apply to Tenant so long as Tenant is a publicly traded company with financial statements available in the public domain. Notwithstanding the foregoing, at any time that Tenant ceases to be a publicly traded company, Landlord may request such
financial statements even if the foregoing conditions to such request are not then satisfied. 
 26.11 Whenever Tenant requests
Landlord to take any action or give any consent required or permitted under this Lease, Tenant will reimburse Landlord for Landlord’s reasonable, out of pocket costs incurred in reviewing the proposed action or consent, including, without
limitation, reasonable attorneys’, engineers’ or architects’ fees, within thirty (30) days after Landlord’s delivery to Tenant of a statement of such costs. Tenant will be obligated to make such reimbursement without regard
to whether Landlord consents to any such proposed action. 

  
 25 

 26.12 Tenant and its telecommunications companies, including but not limited to local
exchange telecommunications companies and alternative access vendor services companies shall have no right of access to and within the Building, for the installation and operation of telecommunications systems including but not limited to voice,
video, data, and any other telecommunications services provided over wire, fiber optic, microwave, wireless, and any other transmission systems, for part or all of Tenant’s telecommunications within the Building and from the Building to any
other location without Landlord’s prior written consent. Landlord shall not unreasonably withhold its consent to the installation and operation of such telecommunications systems, telecommunication services and/or transmission systems. Landlord
agrees that the following service providers shall have the right under this Lease to access and provide services to the Premises without further consent of Landlord: Verizon, Abovenet, Towerstream, Comcast, and XO, but Tenant agrees to give Landlord
prior notice of, and a copy of, any contract between Tenant and any such provider. In no event shall Tenant or any such provider record any such contract or any memorandum thereof against Landlord’s title to the Premises. 

26.13 Tenant acknowledges that the terms and conditions of this Lease are to remain confidential for Landlord’s benefit, and may not
be disclosed by Tenant to anyone other than Tenant’s accountants, attorneys and existing and prospective lenders and investors, who shall agree to keep such information confidential, by any manner or means, directly or indirectly, without
Landlord’s prior written consent, except to the extent required by law. The consent by Landlord to any disclosures shall not be deemed to be a waiver on the part of Landlord of any prohibition against any future disclosure. 

26.14 The term “Hazardous Materials” means any substance, material, or waste which is now or hereafter classified or
considered to be hazardous, toxic, or dangerous under any Law relating to pollution or the protection or regulation of human health, natural resources or the environment, or poses or threatens to pose a hazard to the health or safety of persons on
the Premises or in the Building. Tenant shall not use, generate, store, or dispose of, or permit the use, generation, storage or disposal of Hazardous Materials on or about the Premises or the Building except in a manner and quantity necessary for
the ordinary performance of Tenant’s business, and then in compliance with all Laws. If Tenant breaches its obligations under this Section 26.14, Landlord may immediately take any and all action reasonably appropriate to remedy the same,
including taking all appropriate action to clean up or remediate any contamination resulting from Tenant’s use, generation, storage or disposal of Hazardous Materials. Tenant shall defend, indemnify, and hold harmless Landlord and its
representatives and agents from and against any and all claims, demands, liabilities, causes of action, suits, judgments, damages and expenses (including attorneys’ fees and cost of cleanup and remediation) arising from Tenant’s failure to
comply with the provisions of this Section 26.14. This indemnity provision shall survive termination or expiration of the Lease. 
 Landlord represents and warrants, to Landlord’s actual knowledge without inquiry, that it is not aware of any existing Hazardous Materials present at the Premises in violation of any Laws. Landlord
represents that, as of the Execution Date, it has not received any written notice of any violation of any Laws that has not been cured or remediated as required by law. Landlord shall defend, indemnify, and hold harmless Tenant and its
representatives and agents from and against any and all claims, demands, liabilities, causes of action, suits, judgments, damages and 

  
 26 

 
expenses (including attorneys’ fees and cost of cleanup and remediation) from any Hazardous Materials which exist in, on or under the Building as of the Commencement Date, or which are
introduced into the Building by Landlord, its agents, employees or contractors. 
  

	27.	OFAC Compliance. 

 (a)
Tenant represents and warrants that (a) Tenant is (i) not currently identified on the Specially Designated Nationals and Blocked Persons List maintained by the Office of Foreign Assets Control, Department of the Treasury
(“OFAC”) and/or on any other similar list maintained by OFAC pursuant to any authorizing statute, executive order or regulation (collectively, the “List”), and (ii) not a person or entity with whom a citizen of
the United States is prohibited to engage in transactions by any trade embargo, economic sanction, or other prohibition of United States law, regulation, or Executive Order of the President of the United States, (b) none of the funds or other
assets of Tenant constitute property of, or are beneficially owned, directly or indirectly, by any Embargoed Person (as hereinafter defined), (c) to Tenant’s knowledge no Embargoed Person has any interest of any nature whatsoever in Tenant
(whether directly or indirectly), and (d) none of the funds of Tenant have been derived from any unlawful activity with the result that the investment in Tenant is prohibited by law or that the Lease is in violation of law. The term
“Embargoed Person” means any person, entity or government subject to trade restrictions under U.S. law, including but not limited to, the International Emergency Economic Powers Act, 50 U.S.C. §1701 et seq., The Trading with
the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder with the result that the investment in Tenant is prohibited by law or Tenant is in violation of law. 

(b) Tenant covenants and agrees (a) to comply with all requirements of law relating to money laundering, anti-terrorism, trade
embargoes and economic sanctions, now or hereafter in effect, (b) to immediately notify Landlord in writing if any of the representations, warranties or covenants set forth in this paragraph or the preceding paragraph are no longer true or have
been breached or if Tenant has a reasonable basis to believe that they may no longer be true or have been breached, (c) not knowingly to use funds from any “Prohibited Person” (as such term is defined in the September 24,
2001 Executive Order Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or Support Terrorism) to make any payment due to Landlord under the Lease and (d) at the request of Landlord, to provide such
information as may be requested by Landlord to determine Tenant’s compliance with the terms hereof. 
 (c) Tenant hereby
acknowledges and agrees that Tenant’s inclusion on the List at any time during the Lease Term shall be a material Default of the Lease. Notwithstanding anything herein to the contrary, Tenant shall not permit the Premises or any portion thereof
to be used or occupied by any person or entity on the List or by any Embargoed Person (on a permanent, temporary or transient basis), and any such use or occupancy of the Premises by any such person or entity shall be a material Default of the
Lease. 
 (d) Landlord represents and warrants that (a) Landlord is (i) not currently identified on the List, and
(ii) not a person or entity with whom a citizen of the United States is prohibited to engage in transactions by any trade embargo, economic sanction, or other 

  
 27 

 
prohibition of United States law, regulation, or Executive Order of the President of the United States, (b) none of the funds or other assets of Landlord constitute property of, or are
beneficially owned, directly or indirectly, by any Embargoed Person (as hereinafter defined), (c) no Embargoed Person has any interest of any nature whatsoever in Landlord (whether directly or indirectly), and (d) none of the funds of
Landlord have been derived from any unlawful activity with the result that the investment in Landlord is prohibited by law or that the Lease is in violation of law. 
 (e) Landlord covenants and agrees (a) to comply with all requirements of law relating to money laundering, anti-terrorism, trade embargoes and economic sanctions, now or hereafter in effect,
(b) to immediately notify Landlord in writing if any of the representations, warranties or covenants set forth in this paragraph or the preceding paragraph are no longer true or have been breached or if Landlord has a reasonable basis to
believe that they may no longer be true or have been breached, (c) not knowingly to use funds from any Prohibited Person and (d) at the request of Tenant, to provide such information as may be requested by Tenant to determine
Landlord’s compliance with the terms hereof. 
  

	28.	Parking. 

 Tenant shall
have the right to use twelve (12) automobile parking spaces on an unreserved basis, which spaces shall be located, as designated from time to time by Landlord, in any one or more of the following locations: (i) the 11 Stillings Street
garage and (ii) the 17 Farnsworth Street garage (collectively, the “Parking Facility”) based upon the Tenant’s occupancy of 46,200 rentable square feet; the foregoing referred to herein as “Tenant’s
Parking”). Landlord represents and warrants that it has legal rights pursuant to a written agreement with the owner of each Parking Facility (the “Parking Agreements”), without consent or approval of any other party, to
provide Tenant’s Parking in each Parking Facility and that such rights expire no earlier than the expiration of the initial Term of this Lease. Landlord agrees to use commercially reasonably efforts to extend the Parking Agreements so as to be
able to continue to provide Tenant’s Parking throughout any extension of the Term of this Lease, failing which Landlord shall provide substitute Tenant’s Parking at either or both of (x) the 344 Congress Street Surface Parking Lot or
(y) any other parking facility located within one quarter (1/4) mile of the Premises; provided, however, that in such event Landlord shall diligently use commercially reasonable efforts to cause such substitute Tenant’s Parking to be
located in a garage or other covered parking facility. Tenant’s Parking shall be non-transferable (directly or indirectly) to any other institutions, entities or individuals except in connection with a Transfer permitted under Section 11
above. Overnight parking in the Parking Facility shall be strictly prohibited. Said parking shall be paid for by Tenant to the operator of the Parking Facility (or substitute Parking Facility) at the then current prevailing rate in the
applicable Parking Facility, as such rate may vary from time to time. No deductions or allowances shall be made for days when Tenant or any of its employees does not utilize Tenant’s Parking or for Tenant utilizing less than all of Tenant’
Parking. 
 Landlord shall not be responsible for money, jewelry, automobiles or other personal property lost in or stolen from
the Garages. Landlord shall not be liable for any loss, injury or damage to persons using the Garages or automobiles or other property thereon, it being agreed that, to the fullest extent permitted by law, the use of the Garages and the parking
spaces shall be at the sole risk of Tenant and its employees. 

  
 28 

 Tenant acknowledges that Landlord does not own any of the parking facilities included within
the Parking Facility, but, subject to the foregoing, Landlord has the right to grant Tenant’s Parking in the Parking Facility pursuant to the Parking Agreements. Tenant’s use of the Parking Facility shall be subject to the reasonable rules
and regulations of the owner and/or operator of the applicable Parking Facility. 

  
 29 

 Landlord and Tenant have executed this Lease as of the day and year first above written.

  

					
	LANDLORD:
	
	FARNSWORTH STILLINGS L.P., a Delaware limited partnership
		
	By:	 	Farnsworth Stillings LLC, its general partner
			
		 	By:	 	     /s/ John W. Hueber

		 		 	John W. Hueber, Manager
	
	TENANT:
	
	ZIPCAR, INC., a Delaware corporation
		
	By:	 	 /s/ Scott W. Griffith

	Name:	 	 Scott W. Griffith

	Title:	 	 Chief Executive Officer

	
	  

	Tenant’s Tax ID Number (SSN or FEIN)

  
 30 

 EXHIBIT A 
 OUTLINE AND LOCATION OF PREMISES 
  
 

 

  
 A-1

  
 

 

  
 A-2

  
 

 

  
 A-3

 EXHIBIT B 
 EXPENSES AND TAXES 
 This Exhibit is attached to and made a part of
the Lease by and between FARNSWORTH STILLINGS L.P., a Delaware limited partnership (“Landlord”) and ZIPCAR, INC., a Delaware corporation (“Tenant”) for space in the Building located at 35 Thomson
Place, Boston, Massachusetts 02210. 
 1. Payments. 

1.01. Tenant shall pay Tenant’s Pro Rata Share of the amount, if any, by which Expenses (defined below) for each calendar year during
the Term exceed Expenses for the Base Year (the “Expense Excess”) and also the amount, if any, by which Taxes (defined below) for each Fiscal Year during the Term exceed Taxes for the Base Year (the “Tax Excess”).
If Expenses or Taxes in any calendar year or Fiscal Year decrease below the amount of Expenses or Taxes for the Base Year, Tenant’s Pro Rata Share of Expenses or Taxes, as the case may be, for that calendar year or Fiscal Year shall be $0.
Landlord shall provide Tenant with a good faith estimate of the Expense Excess and of the Tax Excess for each calendar year or Fiscal Year during the Term. On or before the first day of each month, Tenant shall pay to Landlord a monthly installment
equal to one-twelfth of Tenant’s Pro Rata Share of Landlord’s estimate of both the Expense Excess and Tax Excess. After its receipt of the revised estimate, Tenant’s monthly payments shall be based upon the revised estimate. If
Landlord does not provide Tenant with an estimate of the Expense Excess or the Tax Excess by January 1 of a calendar year, Tenant shall continue to pay monthly installments based on the previous year’s estimate(s) until Landlord provides
Tenant with the new estimate. 
 1.02. Within one hundred twenty (120) days after the end of each calendar year or Fiscal
Year, as the case may be, Landlord shall furnish Tenant with a reasonably detailed statement of the actual Expenses and Expense Excess and the actual Taxes and Tax Excess for the prior calendar year or Fiscal Year, as the case may be. If the
estimated Expense Excess or estimated Tax Excess for the prior calendar year or Fiscal Year, as the case may be, is more than the actual Expense Excess or actual Tax Excess for the prior calendar year or Fiscal Year, as the case may be, Landlord
shall refund such amount, provided that if the Term expires before the determination of the overpayment, Landlord shall refund any overpayment to Tenant after first deducting the amount of Rent due. If the estimated Expense Excess or estimated Tax
Excess for the prior calendar year or Fiscal Year, as the case may be, is less than the actual Expense Excess or actual Tax Excess, for such prior calendar year or Fiscal year, as the case may be, for such prior year, Tenant shall pay Landlord,
within thirty (30) days after its receipt of the statement of Expenses or Taxes, any underpayment for the prior calendar year. 
 2. Expenses. 
 2.01. “Expenses” means all reasonable costs
and expenses incurred in each calendar year in connection with operating, maintaining, repairing, and managing the Building and the Property. Expenses include, without limitation: (a) all labor and labor related costs; (b) management fees
not to exceed four percent (4%) of the gross revenues of the Property; (c) the 

  
 B-1

 
cost of equipping, staffing and operating an on-site and/or off-site management office for the Building, provided if the management office services one or more other buildings or properties, the
shared costs and expenses of equipping, staffing and operating such management office(s) shall be equitably prorated and apportioned between the Building and the other buildings or properties; (d) accounting costs; (e) the cost of
services; (f) rental and purchase cost of non-capital parts, supplies, tools and equipment; (g) insurance premiums and deductibles; and (h) the amortized cost of capital improvements (as distinguished from replacement parts or
components installed in the ordinary course of business) that are made in order to comply with Laws enacted or first becoming applicable to the Property after the Execution Date or to reduce other Expenses (“Included Capital
Improvements”). The cost of Included Capital Improvements shall be amortized by Landlord over the lesser of the Payback Period (defined below) or the useful life of the capital improvement as reasonably determined by Landlord.
“Payback Period” means the reasonably estimated period of time that it takes for the cost savings, if any, resulting from an Included Capital Improvement to equal the total cost of the Included Capital Improvement. Landlord, by
itself or through an affiliate, shall have the right to directly perform, provide and be compensated for any services under this Lease. If Landlord incurs Expenses for the Building or Property together with one or more other buildings or properties,
whether pursuant to a reciprocal easement agreement, common area agreement or otherwise, the shared costs and expenses shall be equitably prorated and apportioned between the Building and Property and the other buildings or properties on a
consistent basis throughout the Term. 
 2.02. Expenses shall not include: 

(a) depreciation; 
 (b) principal payments of mortgage and other non operating debts of Landlord; 

(c) the cost of repairs or other work to the extent Landlord is reimbursed by insurance or condemnation proceeds; 

(d) costs in connection with leasing space in the Building, including brokerage commissions; 

(e) lease concessions, rental abatements and construction allowances granted to specific tenants; 

(f) costs incurred in connection with the sale, financing or refinancing of the Building; 

(g) fines, interest and penalties incurred due to the late payment of Taxes or Expenses; 

(h) organizational expenses associated with the creation and operation of the entity which constitutes Landlord; 

(i) any penalties or damages that Landlord pays to Tenant under this Lease or to other tenants in the Building under their respective
leases; 

  
 B-2

 (j) Sums (other than management fees, it being agreed that the management fees included in
Expenses are as described in Section 2.01 above) paid to subsidiaries or other affiliates of Landlord for services on or to the Property, Building and/or Premises, but only to the extent that the costs of such services exceed the competitive
cost for such services rendered by persons or entities of similar skill, competence and experience; 
 (k) Any fines, penalties
or interest resulting from the negligence or willful misconduct of the Landlord or its agents, contractors, or employees; 
 (l)
Advertising and promotional expenditures; 
 (m) Landlord’s charitable and political contributions; 

(n) Base Rent and percentage rent, if any, payable under any ground lease affecting the Property; 

(o) Attorney’s fees and other expenses incurred in connection with negotiations or disputes with prospective tenants or tenants or
other occupants of the Building; 
 (p) The cost or expense of any services or benefits provided generally to other tenants in
the Building and not provided or available to Tenant; 
 (q) All costs of purchasing or leasing major sculptures, paintings or
other major works or objects of art (as opposed to decorations purchased or leased by Landlord for display in the Common Areas of the Building); 
 (r) Any expenses for which Landlord has received actual reimbursement (other than through Expenses); 
 (s) Costs incurred by Landlord in connection with the correction of defects in design and original construction of the Building or Property; 

(t) Expenses for the replacement of any item covered under warranty, unless Landlord has not received payment under such warranty and it
would not be fiscally prudent to pursue legal action to collect on such warranty; 
 (u) Fines or penalties incurred as a result
of violation by Landlord of any applicable Laws; 
 (v) Costs related to Casualty or Taking except to the extent of any incurred
deductible; 
 (w) Costs of monitoring, testing or remediating Hazardous Materials; 

(x) Costs of capital expenditures except Included Capital Improvements as set forth in Section 2.01 above; and 

(y) Costs of correcting violations of Law existing as of the Execution Date. 

  
 B-3

 2.03. If at any time during a calendar year the Building is not at least ninety-five percent
(95%) occupied or Landlord is not supplying services to at least ninety-five percent (95%) of the total Rentable Square Footage of the Building, Expenses shall be determined as if the Building had been ninety-five percent
(95%) occupied and Landlord had been supplying services to ninety-five percent (95%) of the Rentable Square Footage of the Building. If Expenses for a calendar year are determined as provided in the prior sentence, Expenses for the Base
Year shall also be determined in such manner. Notwithstanding the foregoing, Landlord may calculate the extrapolation of Expenses under this Section based on 100% occupancy and service so long as such percentage is used consistently for each year of
the Term. The extrapolation of Expenses under this Section shall be performed in accordance with the methodology specified by the Building Owners and Managers Association. 
 3. Taxes. “Taxes” shall mean: (a) all real property taxes and other assessments on the Building and/or Property, including, but not limited to, gross receipts taxes,
assessments for special improvement districts and building improvement districts, governmental charges, fees and assessments for police, fire, traffic mitigation or other governmental service of purported benefit to the Property, taxes and
assessments levied in substitution or supplementation in whole or in part of any such taxes and assessments and the Property’s share of any real estate taxes and assessments under any reciprocal easement agreement, common area agreement or
similar agreement as to the Property; (b) all personal property taxes for property that is owned by Landlord and used in connection with the operation, maintenance and repair of the Property; and (c) all reasonable, out of pocket costs and
fees incurred in connection with seeking reductions in any tax liabilities described in (a) and (b), including, without limitation, any reasonable costs incurred by Landlord for compliance, review and appeal (provided, however, that after the
first time, if any, that the costs incurred by Landlord in seeking a tax abatement exceed the amount of the abatement actually obtained, in any subsequent year the amount of such costs may be included in Taxes only to the extent of the abatement
actually obtained in such year) of tax liabilities. Without limitation, Taxes shall not include any income, capital levy, transfer, capital stock, gift, estate or inheritance tax. Notwithstanding the foregoing, with respect to any assessment that
may be payable over a period longer than the current Fiscal Year, for purposes of determining the Tax Excess Landlord shall be deemed to have elected to pay such assessment over the longest period of time permitted by applicable Law and there shall
be included in Taxes for any Fiscal Year during the Term only those installments (including interest accruing and payable thereon) or parts of installments that are required to be paid during such Fiscal Year. If a change in Taxes is obtained for
any year of the Term during which Tenant paid Tenant’s Pro Rata Share of any Tax Excess, then Taxes for that year will be retroactively adjusted and Landlord shall provide Tenant with a credit, if any, based on the adjustment. Likewise, if a
change is obtained for Taxes for the Base Year, Taxes for the Base Year shall be restated and the Tax Excess for all subsequent years shall be recomputed. Tenant shall pay Landlord the amount of Tenant’s Pro Rata Share of any such increase in
the Tax Excess within thirty (30) days after Tenant’s receipt of a statement from Landlord. Landlord shall provide to Tenant a copy of all bills for Taxes included within any statement delivered above with respect to Taxes. 

4. Audit Rights. Tenant, within one hundred twenty (120) days after receiving Landlord’s statement of Expenses, may give
Landlord written notice (“Review Notice”) that Tenant intends to review Landlord’s records of the Expenses for the calendar year to which the statement applies. Within a reasonable time after receipt of the Review Notice,
Landlord shall 

  
 B-4

 
make all pertinent records available for inspection in the greater Boston area that are reasonably necessary for Tenant to conduct its review. If Tenant retains an agent to review Landlord’s
records, the agent may not be an examiner of Tenant who is being paid by Tenant on a contingent fee basis. Tenant shall be solely responsible for all costs, expenses and fees incurred for the audit except as set forth below. Within ninety
(90) days after the records are made available to Tenant, Tenant shall have the right to give Landlord written notice (an “Objection Notice”) stating in reasonable detail any objection to Landlord’s statement of Expenses
for that year. If Tenant fails to give Landlord an Objection Notice within the ninety-(90)-day period or fails to provide Landlord with a Review Notice within the one hundred twenty-(120)-day period described above, Tenant shall be deemed to have
approved Landlord’s statement of Expenses and shall be barred from raising any claims regarding the Expenses for that year. The records obtained by Tenant shall be treated as confidential. In no event shall Tenant be permitted to examine
Landlord’s records or to dispute any statement of Expenses unless Tenant has paid and continues to pay all Rent when due. However, notwithstanding the foregoing, if, subject to the following provisions of this Section 4, the audit reveals
that Expenses for the Building for the year in question were less than stated by more than five percent (5%), Landlord, within thirty (30) days after its receipt of paid invoices therefor from Tenant, shall reimburse Tenant for the reasonable
amounts paid by Tenant to third parties in connection with such review by Tenant and in all events Landlord shall promptly refund any overpayment made by Tenant. If Landlord disputes the result of such audit, Landlord shall notify Tenant thereof
within ten (10) business days after delivery of the audit to Landlord. If Landlord and Tenant are unable to resolve such dispute within thirty (30) days after the date of Landlord’s dispute notice, then such dispute shall be submitted
to arbitration in accordance with the provisions of Section 5 below. 
 5. Arbitration. If a dispute as to Expenses
or Taxes is submitted to arbitration, the arbitration proceedings, including the selection of an arbitrator, shall be conducted pursuant to the rules, regulations and procedures from time to time in effect as promulgated by the American Arbitration
Association. Prior written notice of application by either party for arbitration shall be given to the other at least ten (10) days before submission of the application to the said Association’s office in Boston, Massachusetts. The
arbitrator shall hear the parties and their evidence. The decision of the arbitrator shall be binding and conclusive, and judgment upon the award or decision of the arbitrator may be entered in the Commonwealth of Massachusetts Superior Court for
Suffolk County; and the parties consent to the jurisdiction of such court and further agree that any process or notice of motion or other application to the Court or a judge thereof may be served outside the Commonwealth of Massachusetts by
registered mail or by personal service, provided a reasonable time for appearance is allowed. The costs and expenses of each arbitration hereunder and their apportionment between the parties shall be determined by the arbitrator in his award or
decision. 
 6. Two-Year Limitation. To the extent Landlord fails to bill Tenant for any amount claimed due with respect
to Expenses or Taxes within two (2) years of the date on which Landlord delivered to Tenant the annual statement for the year in which the amount claimed to be due was incurred, Landlord shall have no right to demand payment for the same from
Tenant, and Landlord waives all rights with respect thereto. 

  
 B-5

 EXHIBIT C 
 WORK LETTER 
 This Exhibit is attached to and made a part of the
Lease by and between FARNSWORTH STILLINGS L.P., a Delaware limited partnership (“Landlord”) and ZIPCAR, INC., a Delaware corporation (“Tenant”) for space in the Building located at 35 Thomson Place,
Boston, Massachusetts 02210. 
  

	I.	Initial Improvements. 

  

	 	(i)	Tenant, following the delivery of the Premises by Landlord and the full and final execution and delivery of the Lease to which this Exhibit C is attached shall
have the right to perform alterations and improvements in the Premises (the “Initial Improvements”). Notwithstanding the foregoing, Tenant and its contractors shall not have the right to perform the Initial Improvements in the
Premises unless and until Tenant has complied with all of the terms and conditions of Article 9 of the Lease, including, without limitation, approval by Landlord of the final plans for the Initial Improvements and the contractors to be retained
by Tenant to perform such Initial Improvements. Landlord hereby approves the conceptual plans for the Initial Improvements as shown on Schedule C-1 attached hereto (the “Conceptual Plans”), and Landlord may not unreasonably
withhold, delay, or condition its approval to the Initial Improvements shown on any subsequently delivered plans and specifications with respect to elements of the Initial Improvements shown on the Conceptual Plans. To the extent Landlord objects to
any plans or specifications for the Initial Improvements, it shall provide a reasonably detailed writing identifying the reasons for its objection. Landlord shall promptly provide all information, plans, and specifications with respect to the
Building within Landlord’s possession or control (it being agreed that Landlord shall have no obligation to generate any new materials or summaries for the benefit of Tenant) which Tenant reasonably requests in connection with the design and
construction of the Initial Improvements. Tenant shall be responsible for all elements of the design of Tenant’s plans (including, without limitation, compliance with law, functionality of design, the structural integrity of the design, the
configuration of the Premises and the placement of Tenant’s furniture, appliances and equipment), and Landlord’s approval of Tenant’s plans shall in no event relieve Tenant of the responsibility for such design. Landlord’s
approval of the contractors to perform the Initial Improvements shall not be unreasonably withheld. The parties agree that Landlord’s approval of the general contractor to perform the Initial Improvements shall not be considered to be
unreasonably withheld if any such general contractor (i) does not have trade references reasonably acceptable to Landlord, (ii) does not maintain insurance as required pursuant to the terms of this Lease, (iii) does not have the
ability to be bonded for the work in an amount of no less than one hundred percent (100%) of the total estimated cost of the Initial Improvements, or (iv) is not licensed as a contractor in the state/municipality in which the Premises is
located. Tenant acknowledges the foregoing is not intended to be an exclusive list of the reasons why Landlord may reasonably withhold its consent to a general contractor. 

  
 C-1

	 	(ii)	Tenant agrees to accept the Premises in its “as-is” condition and configuration, it being agreed that except for Landlord’s obligation to provide
Landlord’s Contribution, as hereinafter defined, Landlord shall not be required to perform any work or incur any costs, in connection with the construction or demolition of any improvements in the Premises; provided, however, that this shall
not affect any of Landlord’s obligations under Sections 5, 7, 9, 16 and 17 of the Lease. There shall be no limits on the times during which Tenant and its contractors may perform the Initial Alterations. 

 

	 	(iii)	This Exhibit shall not be deemed applicable to any additional space added to the Premises at any time or from time to time, whether by any options under the Lease or
otherwise, or to any portion of the original Premises or any additions to the Premises in the event of a renewal or extension of the original Term of the Lease, whether by any options under the Lease or otherwise, unless expressly so provided in the
Lease or any amendment or supplement to the Lease. 

  

	II.	Improvement Allowance. 

Provided Tenant is not in default beyond any applicable notice and cure periods, Landlord agrees to contribute an amount equal to
$1,155,000.00 (i.e., $25.00 per rentable square foot of the Premises) (the “Allowance”), toward the cost of performing the Initial Alterations in preparation of Tenant’s occupancy of the Premises. The Allowance may only be used
for the cost of preparing design and construction documents; permitting costs, management fees, telecommunications and data cabling installation; costs of permitting and installing signage; mechanical and electrical plans for the Initial Alterations
and for all other hard and soft costs in connection with the Initial Alterations). In addition, the Allowance may be used toward the cost of Tenant’s actual moving expenses and furniture costs. The Allowance, or such portion thereof that equals
the amount expended by Tenant on the items described above, shall be paid to Tenant or, at Landlord’s option, to the order of the general contractor that performed the Initial Alterations, within 30 days following substantial completion of the
Initial Alterations and receipt by Landlord of Tenant’s requisition for the Allowance accompanied by (1) invoices covering all labor and materials expended and used in the Initial Alterations; (2) a sworn contractor’s affidavit
from the general contractor and a request to disburse from Tenant; (3) full and final waivers of lien; (4) as-built plans (in both paper and CAD file formats) of the Initial Alterations; (5) an AIA-G704 from Tenant’s architect;
and (6) a certificate of occupancy issued with respect to the Premises by the Inspectional Services Department of the City of Boston (“ISD”) or written evidence that other permission has been obtained from ISD for occupancy by Tenant
of the Premises. The Allowance shall be disbursed in the amount reflected on the invoices meeting the requirements above. Notwithstanding anything herein to the contrary, Landlord shall not be obligated to disburse the Allowance during the
continuance of an uncured Default under the Lease. Any portion of the Allowance that has not been requisitioned on or before the date that is two (2) years after the Commencement Date shall be forfeited by Tenant and remain the property of
Landlord. 

  
 C-2

 In order to secure Landlord’s obligation to pay the Allowance to Tenant, Landlord shall
deposit current funds in the amount of the Allowance with Fidelity National title Insurance Company (the “Escrow Agent”), who shall hold such funds and disburse same in accordance with an escrow agreement by and among Landlord,
Tenant, and the Escrow Agent substantially in the form attached hereto as Exhibit K (the “Escrow Agreement”). Landlord and Tenant shall execute the Escrow Agreement on the Execution Date, and Landlord shall cause the Escrow
Agent to execute the Escrow Agreement forthwith thereafter. Landlord shall fund the Escrow Agreement not later than the date that is two (2) Business Days after the Execution Date and provide an acknowledgment from the Escrow Agent of receipt
of the same. If Landlord shall fail to deposit an amount equal to the Allowance with the Escrow Agent in such time period, Tenant shall have the right to terminate this Lease upon written notice to Landlord given at any time after such time period
and before Landlord deposits such amount. 

  
 C-3

 EXHIBIT C-1 
 TENANT’S PRELIMINARY PLANS 
  
 

 

  
 -1 

 EXHIBIT D 
 COMMENCEMENT DATE AGREEMENT 
  

			
		
	Date	 	
                    
                     

		
	Tenant	 	
                    
                     

	Address	 	
                    
                     

		 	  

		 	  

  

	Re:	Commencement Letter with respect to that certain Lease dated as of the      day of
            ,     , by and between
                    , a
                        ,as Landlord, and
                    , as Tenant, for              rentable square feet on
the              floor of the Building located at                     ,
Massachusetts,             . 

 Dear    
                            : 

In accordance with the terms and conditions of the above referenced Lease, Tenant accepts possession of the Premises and agrees:

  

	 	1.	The Commencement Date of the Lease is                     ;

  

	 	2.	The Termination Date of the Lease is                     .

 Please acknowledge your acceptance of possession and agreement to the terms set forth above by signing all 3
counterparts of this Commencement Letter in the space provided and returning 2 fully executed counterparts to my attention. 
  

			
	Sincerely,	 	
		
	  
	 	
	Authorized Signatory	 	

 Agreed and Accepted: 
  

					
		 	 Tenant:
	 	  

			
		 	 By:
	 	  

		 	 Name:
	 	  

		 	 Title:
	 	  

		 	 Date:
	 	  

  
 D-1

 EXHIBIT E 
 BUILDING RULES AND REGULATIONS 
 The following rules and regulations
shall apply, where applicable, to the Premises, the Building, the Property and the appurtenances. In the event of a conflict between the following rules and regulations and the remainder of the terms of the Lease, the remainder of the terms of the
Lease shall control. Capitalized terms have the same meaning as defined in the Lease 
  

	1.	Sidewalks, doorways, vestibules, halls, stairways and other similar areas shall not be obstructed by Tenant or used by Tenant for any purpose other than ingress and
egress to and from the Premises. No rubbish, litter, trash, or material shall be placed, emptied, or thrown in those areas. 

  

	2.	Plumbing fixtures and appliances shall be used only for the purposes for which designed and no sweepings, rubbish, rags or other unsuitable material shall be thrown or
placed in the fixtures or appliances. Damage resulting to fixtures or appliances by Tenant, its agents, employees or invitees caused by violation of the foregoing shall be paid for by Tenant and Landlord shall not be responsible for the damage.

  

	3.	No signs, advertisements or notices shall be painted or affixed to exterior windows or doors of the Building, except those of such color, size, style and in such places
as are first approved in writing by Landlord. 

  

	4.	Landlord may provide and maintain in the first floor (main lobby) of the Building an alphabetical directory board or other directory device listing tenants and no other
directory shall be permitted unless previously consented to by Landlord in writing. 

  

	5.	Tenant shall not place any lock(s) on any door in the Premises or Building without Landlord’s prior written consent, which consent shall not be unreasonably
withheld, and Landlord shall have the right at all times to retain and use keys or other access codes or devices to all locks within and into the Premises. A reasonable number of keys to the locks on the entry doors in the Premises shall be
furnished by Landlord to Tenant at Tenant’s cost and Tenant shall not make any duplicate keys. All keys shall be returned to Landlord at the expiration or early termination of the Lease. 

 

	6.	All contractors, contractor’s representatives and installation technicians performing work in the Building shall be subject to Landlord’s prior approval,
which approval shall not be unreasonably withheld, and shall be required to comply with Landlord’s commercially reasonable rules, regulations, policies and procedures, which may be revised from time to time but shall be consistent with those of
a single-tenant building. 

  

	7.	Tenant shall assume all risk for damage to articles moved and injury to any persons resulting from the activity. If equipment, property, or personnel of Landlord or of
any other party is damaged or injured as a result of or in connection with the activity, Tenant shall be solely liable for any resulting damage, loss or injury subject to the terms of the Lease. 

  
 E-1

	8.	Landlord shall have the right to approve the weight, size, or location of heavy equipment or articles in and about the Premises, which approval shall not be
unreasonably withheld. Damage to the Building by the installation, maintenance, operation, existence or removal of Tenant’s Property shall be repaired at Tenant’s sole expense subject to the terms of the Lease. 

 

	9.	No animals, except those assisting handicapped persons, shall be brought into the Building or kept in or about the Premises. 

 

	10.	No inflammable, explosive or dangerous fluids or substances shall be used or kept by Tenant in the Premises, Building or about the Property, except for those substances
as are typically found in similar premises used for general office purposes and are being used by Tenant in a safe manner and in accordance with all applicable Laws. Tenant shall not, without Landlord’s prior written consent, use, store,
install, spill, remove, release or dispose of, within or about the Premises or any other portion of the Property, any asbestos-containing materials or any solid, liquid or gaseous material now or subsequently considered toxic or hazardous under the
provisions of 42 U.S.C. Section 9601 et seq., M.G.L. c. 21C, M.G.L. c. 21E or any other applicable environmental Law which may now or later be in effect. Tenant shall comply with all Laws pertaining to and governing the use of these materials
by Tenant and shall remain solely liable for the costs of abatement and removal. 

  

	11.	Tenant shall not use or occupy the Premises in any manner or for any purpose which might injure the reputation or impair the present or future value of the Premises or
the Building. Tenant shall not use, or permit any part of the Premises to be used for lodging, sleeping or for any illegal purpose. 

  

	12.	Tenant shall not furnish cooling or heating to the Premises, including, without limitation, the use of electronic or gas heating devices, without Landlord’s prior
written consent which shall not be unreasonably withheld, conditioned or delayed. 

  

	13.	Bicycles and other vehicles are not permitted inside the Building or on the walkways outside the Building, except in areas designated by Landlord.

  

	14.	Landlord may from time to time adopt reasonable systems and procedures for the security and safety of the Building, its occupants, entry, use and contents. Tenant, its
agents, employees, contractors, guests and invitees shall comply with Landlord’s reasonable systems and procedures. 

  

	15.	Landlord shall have the right to prohibit the use of the name of the Building or any other publicity by Tenant that in Landlord’s sole opinion may impair the
reputation of the Building or its desirability. Upon written notice from Landlord, Tenant shall refrain from and discontinue such publicity immediately. 

  

	16.	Neither Tenant nor its agents, employees, contractors, guests or invitees shall smoke or permit smoking in the Common Areas, unless a portion of the Common Areas have
been declared a designated smoking area by Landlord, nor shall the above parties allow smoke from the Premises to emanate into the Common Areas or any other part of the Building. Landlord shall have the right to designate the Building (including the
Premises) as a non-smoking building. 

  
 E-2

	17.	Landlord shall have the right to designate and approve standard window coverings for the Premises and to establish rules to assure that the Building presents a uniform
exterior appearance. 

  

	18.	The work of cleaning personnel shall not be hindered by Tenant after 5:30 P.M., and cleaning work may be done at any time when the offices are vacant. Windows, doors
and fixtures may be cleaned at any time. Tenant shall provide adequate waste and rubbish receptacles to prevent unreasonable hardship to the cleaning service. 

  
 E-3

 EXHIBIT F 
 ADDITIONAL PROVISIONS 
 This Exhibit is attached to and made a part
of the Lease by and between FARNSWORTH STILLINGS L.P., a Delaware limited partnership (“Landlord”) and ZIPCAR, INC., a Delaware corporation (“Tenant”) for space in the Building located at 35 Thomson
Place, Boston, Massachusetts 02210. 
  

	1.	EXTENSION OPTION  

  

	 	A.	Grant of Option; Conditions. Tenant shall have, subject to the following terms and conditions, the right to extend the Term of the Lease with respect to the
entirety of the Premises for two (2) additional periods (the “First Extension Term” and “Second Extension Term”, respectively; each an “Extension Term”) of five (5) years each, if:

  

	 	(i)	Landlord receives notice of exercise (“Extension Notice”) not less than eighteen (18) full calendar months prior to the expiration of the initial
Term or the First Extension Term, as the case may be, and not more than twenty-one (21) full calendar months prior to the expiration of the initial Term or the First Extension Term, as the case may be; and 

 

	 	(ii)	Tenant is not in Default under the Lease beyond any applicable cure periods at the time that Tenant delivers its Extension Notice, or at the time Tenant delivers its
Binding Notice (as defined below); and 

  

	 	(iii)	Not more than fifty percent (50%) of the Premises is sublet (other than pursuant to a Permitted Transfer, as defined in Article 11 of the Lease) at the time
that Tenant delivers its Initial Extension Notice, or at the time Tenant delivers its Binding Notice; and 

  

	 	(iv)	The Lease has not been assigned (other than pursuant to a Permitted Transfer, as defined in Article 11 of the Lease) prior to the date that Tenant delivers its
Extension Notice, or prior to the date Tenant delivers its Binding Notice. 

  

	 	B.	Terms Applicable to Premises During Extension Term. 

  

	 	(i)	 The Lease of the Premises for such Extension Term shall be upon all of the same terms and conditions as set forth in the Lease for the then current
Term, except that (a) Tenant shall have no further option to extend the Term after the Second Extension Term, and (b) the initial Base Rent rate per rentable square foot for the Premises during such Extension Term shall equal the greater
of (i) the Base Rent payable during the last period of the Initial Term (with respect to the First Extension Term) or the last period of the First Extension Term (with respect to the Second Expiration Term), as the case may be, or (ii) the
Prevailing Market rate (hereinafter defined) per 

  
 F-1

	 	
rentable square foot for the Premises. Base Rent during any Extension Term may increase in accordance with the increases assumed in the determination of Prevailing Market rate. Base Rent
attributable to the Premises shall be payable in monthly installments in accordance with the terms and conditions of Article 4 of the Lease. 

  

	 	(ii)	Tenant shall pay Additional Rent (i.e., Taxes and Expenses) for the Premises during any Extension Term in accordance with the terms of Article 4 of the Lease, and
the manner and method in which Tenant reimburses Landlord for Tenant’s share of Taxes and Expenses and the Base Year, if any, applicable to such matter, shall be some of the factors considered in determining the Prevailing Market rate for the
Extension Term. 

  

	 	C.	Initial Procedure for Determining Prevailing Market. Within thirty (30) days after receipt of Tenant’s Extension Notice, Landlord shall advise Tenant
of Landlord’s good faith estimate of the Prevailing Market rate for the Premises for the applicable Extension Term. Tenant, within fifteen (15) days after the date on which Landlord advises Tenant of the Prevailing Market rate for the
applicable Extension Term, shall either (i) give Landlord final binding written notice (“Binding Notice”) of Tenant’s exercise of its Extension Option, or (ii) if Tenant disagrees with Landlord’s determination,
provide Landlord with written notice of rejection (the “Rejection Notice”). If Tenant fails to provide Landlord with either a Binding Notice or Rejection Notice within such fifteen-(15)-day period, Tenant shall be deemed to have
provided a Rejection Notice. If Tenant provides Landlord with a Binding Notice, Landlord and Tenant shall enter into the Extension Amendment (as defined below) upon the terms and conditions set forth herein. If Tenant provides or is deemed to have
provided Landlord with a Rejection Notice, Landlord and Tenant shall work together in good faith to agree upon the Prevailing Market rate for the Premises during such Extension Term. Upon agreement, Landlord and Tenant shall enter into the Extension
Amendment in accordance with the terms and conditions hereof. Notwithstanding the foregoing, if Landlord and Tenant fail to agree upon the Prevailing Market rate within thirty (30) days after the date Tenant provides Landlord with the Rejection
Notice, then the Prevailing Market rate shall be determined in accordance with the arbitration procedures described in Section D below. 

  

	 	D.	Arbitration Procedure. 

  

	 	(i)	 If Landlord and Tenant have failed to reach agreement as to the Prevailing Market rate within thirty (30) days after the date of the Rejection
Notice, then, within five (5) days after the expiration of such thirty-(30)-day period, Landlord and Tenant shall each simultaneously submit to the other, in a sealed envelope, its good faith estimate of the Prevailing Market rate for the
Premises during the applicable Extension Term (collectively referred to as the “Estimates”). If the higher of such Estimates is not more than 105% of the lower of such Estimates, then Prevailing Market

  
 F-2

	 	
rate shall be the average of the two Estimates. If the Prevailing Market rate is not resolved by the exchange of Estimates, then, within seven (7) days after the exchange of Estimates,
Landlord and Tenant shall each select an appraiser to determine which of the two Estimates most closely reflects the Prevailing Market rate for the Premises during the Extension Term. Each appraiser so selected shall be either (a) certified as
an MAI appraiser or as an ASA appraiser or (b) a licensed real estate broker and, in either case, have had at least five (5) years’ experience within the previous ten (10) years as a real estate appraiser working in the Seaport
District of Boston, with working knowledge of current rental rates and practices. For purposes hereof, an “MAI” appraiser means an individual who holds an MAI designation conferred by, and is an independent member of, the American
Institute of Real Estate Appraisers (or its successor organization, or in the event there is no successor organization, the organization and designation most similar), and an “ASA” appraiser means an individual who holds the Senior
Member designation conferred by, and is an independent member of, the American Society of Appraisers (or its successor organization, or, in the event there is no successor organization, the organization and designation most similar).

  

	 	(ii)	Upon selection, Landlord’s and Tenant’s appraisers shall work together in good faith to agree upon which of the two Estimates most closely reflects the
Prevailing Market rate for the Premises. The Estimate chosen by such appraisers shall be binding on both Landlord and Tenant as the Base Rent rate for the Premises during the applicable Extension Term. If either Landlord or Tenant fails to appoint
an appraiser within the seven-(7)-day period referred to above, and such failure continues for three (3) Business Days after written notice thereof, the appraiser appointed by the other party shall be the sole appraiser for the purposes hereof.
If the two appraisers cannot agree upon which of the two Estimates most closely reflects the Prevailing Market within twenty (20) days after their appointment, then, within ten (10) days after the expiration of such twenty-(20)-day period,
the two appraisers shall select a third appraiser meeting the aforementioned criteria. Once the third appraiser (i.e., arbitrator) has been selected as provided for above, then, as soon thereafter as practicable but in any case within fourteen
(14) days, the arbitrator shall make his determination of which of the two Estimates most closely reflects the Prevailing Market rate and such Estimate shall be binding on both Landlord and Tenant as the Base Rent for the Premises. If the
arbitrator believes that expert advice would materially assist him, he may retain one or more qualified persons to provide such expert advice. The parties shall share equally in the costs of the arbitrator and of any experts retained by the
arbitrator. Any fees of any appraiser, counsel or experts engaged directly by Landlord or Tenant, however, shall be borne by the party retaining such appraiser, counsel or expert. 

  
 F-3

	 	(iii)	If the Prevailing Market rate has not been determined by the commencement date of the applicable Extension Term, Tenant shall pay Base Rent upon the terms and
conditions in effect during the last month of the then current Term for the Premises until such time as the Prevailing Market rate has been determined. Upon such determination, the Base Rent for the Premises shall be retroactively adjusted to the
commencement of the applicable Extension Term for the Premises. If such adjustment results in an underpayment of Base Rent by Tenant, Tenant shall pay Landlord the amount of such underpayment within thirty (30) days after the determination
thereof. 

  

	 	E.	Extension Amendment. If Tenant is entitled to and properly exercises its Extension Option, Landlord shall prepare an amendment (the “Extension
Amendment”) to reflect changes in the Base Rent, Term, Termination Date and other appropriate terms. The Extension Amendment shall be sent to Tenant within a reasonable time after receipt of the Binding Notice, or Rejection Notice, as the
case may be, and Tenant shall execute and return the Extension Amendment to Landlord within fifteen (15) days after Tenant’s receipt of same, but, upon delivery of the Extension Notice, an otherwise valid exercise of the Extension Option
shall be fully effective whether or not the Extension Amendment is executed. 

  

	 	F.	Prevailing Market. For purposes hereof, “Prevailing Market” shall mean the arm’s length fair market annual rental rate per rentable square
foot under extension leases and amendments entered into on or about the date on which the Prevailing Market is being determined hereunder for space comparable to the Premises in the Building and office buildings comparable to the Building in the
Seaport District of Boston. The determination of Prevailing Market shall take into account any material economic differences between the terms of this Lease and any comparison lease or amendment, such as rent abatements, construction costs and other
concessions and the manner, if any, in which the landlord under any such lease is reimbursed for operating expenses and taxes. 

  

	2.	FURNITURE, FIXTURES AND EQUIPMENT 

 On the Commencement Date, all furniture, fixtures, and equipment located in each and every office and conference room in the Premises (i.e., as opposed to open areas) (the “FFE”) shall be
conveyed to Tenant in its as-is, where-is condition, without any representation or warranty whatsoever by Landlord (except as provided in the following sentence), whereupon all such items shall become the property of Tenant. Landlord represents and
warrants that pursuant to the Termination Agreement, Landlord shall have ownership of the FFE, free of all liens and interests of others, and shall have the right to convey the same to Tenant as provided herein. All other furniture, fixtures, and
equipment in the Premises as of the Execution Date shall be removed from the Premises by Landlord at its expense on or before the Commencement Date. 

  
 F-4

	3.	SIGNAGE 

 Tenant shall, subject to the provisions of this Section 3, have the right to install, maintain, replace, and repair on the exterior of the Building the maximum signage permitted under applicable law,
which signage shall be limited to Tenant’s name and/or logo (the “Exterior Signage”). The Exterior signage shall comply in all respects with all applicable laws, regulations and orders of public authorities and Tenant shall be solely
responsible for obtaining, at its expense, all permits and approvals required by law for the Exterior Signage. There shall be no limitation under this Lease on Tenant’s rights to install signage within the Premises provided the same is not
visible from the exterior of the Building. 
 The size and the appearance of the Exterior Signage shall be subject to the prior
approval of Landlord, which approval shall not unreasonably be withheld, conditioned or delayed. The installation, maintenance, and repair of such Exterior Signage shall be performed at Tenant’s expense in accordance with the terms and
conditions governing alterations pursuant to Article 9 of the Lease. At the expiration of the Lease Term, Tenant shall, at its cost and expense, remove the Exterior Signage and restore all damage to the Building caused by the installation and/or
removal of such Exterior Signage, which removal and restoration shall be performed in accordance with the terms and conditions governing alterations pursuant to Article 9 of the Lease. 

Landlord shall cooperate with Tenant’s efforts to obtain any permit or approval required or desirable in connection with the
installation of the Exterior Signage, and Tenant shall reimburse Landlord for its reasonable third party out-of-pocket costs incurred in connection with providing such cooperation. 

So long as Tenant is leasing the entirety of the Premises, Landlord shall not install, or permit any other party to install, exterior
signage on the Building. 
 4. THOMSON CAFETERIA USE. Upon Tenant’s request, Landlord agrees to introduce Tenant to the appropriate
representatives of the Current Tenant, and facilitate discussions between Current Tenant and Tenant, for the possible shared use of the existing cafeteria located at 44 Thomson Place. Landlord shall have no liability in the event Current Tenant and
Tenant are unable to reach agreement on such shared use of the cafeteria. 

  
 F-5

 EXHIBIT G 
 DEMISING SPECIFICATION 
 Zip Car Demising wall between Bldg 25 and 35

 In existing openings between Building 25 and Building 35, Landlord will install gypsum drywall partition of equal rating to the existing
wall, with smooth joints and paint to complement or match the existing walls. 
 Sliding steel firewall door to remain based on part of
architectural element of building but will remain open so demising wall will be visible. 

  
 G-1

 EXHIBIT H 

SUBORDINATION, NON-DISTURBANCE AND ATTORNMENT AGREEMENT 
 THIS SUBORDINATION, NON-DISTURBANCE AND ATTORNMENT AGREEMENT (the “Agreement”) is made as of November     , 2012 by and between YELLOW BRICK REAL ESTATE CAPITAL
I, LLC, a Delaware limited liability company, having an address at c/o LoanCore Capital, LLC, 80 Field Point Road, Greenwich, Connecticut 06830 (“Lender”) and ZIPCAR, INC., a Delaware corporation, having an address at 25 First
Street, Fourth Floor, Cambridge, Massachusetts 02141 (“Tenant”). 
 RECITALS: 

A. Lender is the present owner and holder of that certain Mortgage, Security Agreement and Fixture Financing Statement, dated as of
August 16, 2007, given by Landlord (defined below) to Anglo Irish Bank Corporation plc, recorded in the Suffolk County Registry of Deeds Office (the “Recording Office”) in Book 42333, Page 145, as amended by that certain First
Amendment to Mortgage, Security Agreement and Fixture Financing Statement, dated as of October 24, 2007 and recorded in the Recording Office on October 24, 2007 in Book 42637, Page 99, as assigned pursuant to that certain Assignment of
Mortgage and Assignment of Leases and Rents, dated as of December 22, 2011, by Irish Bank Resolution Corporation Limited (f/k/a as Anglo Irish Bank Corporation Limited, f/k/a Anglo Irish Bank Corporation plc), a corporation under the laws of
Ireland, and National Asset Loan Management Limited, a corporation under the laws of Ireland, collectively, as assignor, to Brickman Real Estate Fund V, L.P., a Delaware limited partnership, as assignee, as further assigned pursuant to that certain
Assignment of Mortgage and Assignment of Leases and Rents, dated as of December 22, 2011, by Brickman Real Estate Fund V, L.P., as assignor, to Lender, as assignee (collectively, as so amended and assigned, and as the same may be further
amended, assigned, modified or supplemented from time to time, the “Security Instrument”), which encumbers the fee estate of Landlord (as defined below) in certain premises described in Exhibit A attached hereto (the
“Property”) and which secures the payment of certain indebtedness owed by Landlord to Lender evidenced by that certain Promissory Note, dated as of August 16, 2007, given by Landlord in favor of Lender (as the same may be
amended, assigned, modified or supplemented from time to time, the “Note”); 
 B. Tenant is the holder of a
leasehold estate in a portion of the Property under and pursuant to the provisions of a certain Office Lease Agreement, dated as of November     , 2012, between Farnsworth Stillings L.P., a Delaware limited partnership, as
landlord (“Landlord”) and Tenant, as tenant (the “Lease”), covering certain premises containing approximately 46,200 square feet within the property known as 35 Thomson Place, Boston, Massachusetts 02210, more
particularly described in the Lease; and 

 C. Tenant has agreed to subordinate the Lease to the lien of the Security Instrument and
Lender has agreed to grant non-disturbance to Tenant under the Lease on the terms and conditions hereinafter set forth. 

AGREEMENT: 
 For good and valuable consideration, Tenant and Lender agree as follows: 
 1.
SUBORDINATION. The Lease and all of the terms, covenants and provisions thereof and all rights, remedies and options of Tenant thereunder are and shall at all times continue to be subject and subordinate in all
respects to the lien of the Security Instrument, including without limitation, the lien of all renewals, increases, modifications, spreaders, consolidations, replacements and extensions thereof and to all sums secured thereby and advances made
thereunder with the same force and effect as if the Security Instrument had been executed, delivered and recorded prior to the execution and delivery of the Lease. 
 2. NON-DISTURBANCE. If any action or proceeding is commenced by Lender for the foreclosure of the Security Instrument or the sale of the Property,
Tenant shall not be named as a party therein unless such joinder shall be required by law, provided, however, such joinder shall not result in the termination of the Lease or disturb the Tenant’s possession or use of the premises demised
thereunder. Further, the foreclosure of the Security Instrument, the acceptance of a deed or assignment in lieu of foreclosure or any other enforcement of the Security Instrument and the sale of the Property in any such action or proceeding and the
exercise by Lender of any of its other rights under the Note or the Security Instrument shall be made subject to all rights of Tenant under the Lease, provided that at the time of the commencement of any such action or proceeding or at the time of
any such sale or exercise of any such other rights (a) the Lease shall be in full force and effect and (b) Tenant shall not be in default beyond applicable notice and cure periods under any of the terms, covenants or conditions of the
Lease or of this Agreement on Tenant’s part to be observed or performed. 
 3.
ATTORNMENT. If Lender or any other subsequent purchaser of the Property shall become the owner of the Property by reason of the foreclosure of the Security Instrument or the acceptance of a deed or assignment in
lieu of foreclosure or by reason of any other enforcement of the Security Instrument (Lender or such other purchaser being hereinafter referred as “Purchaser”), and the conditions set forth in Section 2 above have been met at
the time Purchaser becomes owner of the Property, the Lease shall not be terminated or affected thereby but shall continue in full force and effect as a direct lease between Purchaser and Tenant upon all of the terms, covenants and conditions set
forth in the Lease and in that event, Tenant agrees to attorn to Purchaser and Purchaser by virtue of such acquisition of the Property shall be deemed to have agreed to accept such attornment, provided, however, that Purchaser shall not be
(a) liable for the failure of any prior landlord (any such prior landlord, including Landlord and any prior successor landlord, being hereinafter referred to as a “Prior Landlord”) to perform any of its obligations under the
Lease which have accrued prior to the date on which Purchaser shall become the owner of the Property, provided that the foregoing shall not limit Purchaser’s obligations under the Lease to correct any conditions that (i) existed as of the
date Purchaser shall become the owner of the Property and (ii) violate Purchaser’s obligations as landlord under 

  
 2 

 
the Lease; provided further, however, that Purchaser shall have a reasonable period of time after the date on which Purchaser becomes owner of the Property to perform such obligation or correct
such condition, (b) subject to any offsets, defenses, abatements (other than continuing abatement rights pursuant to express terms of the Lease) or counterclaims which shall have accrued in favor of Tenant against any Prior Landlord prior to
the date upon which Purchaser shall become the owner of the Property, (c) liable for the return of rental security deposits, if any, paid by Tenant to any Prior Landlord in accordance with the Lease unless such sums are actually received by
Purchaser, (d) bound by any payment of rents, additional rents or other sums which Tenant may have paid more than one (1) month in advance to any Prior Landlord unless (i) such sums are actually received by Purchaser or (ii) such
prepayment shall have been expressly approved of by Purchaser, (e) bound by any agreement terminating or amending or modifying the rent, term, commencement date (other than as the term or commencement date may be adjusted by the Commencement
Date Agreement attached as Exhibit D to the Lease) or other material term of the Lease, or any voluntary surrender of the premises demised under the Lease, made without Lender’s or Purchaser’s prior written consent prior to the time
Purchaser succeeded to Landlord’s interest; provided that such consent shall not be required for any amendment that solely evidences and memorializes the exercise (in strict accordance with the terms and conditions of the Lease) of any
right of Tenant expressly set forth in the Lease. or (f) liable with respect to any representations, warranties or indemnities made by or from any Prior Landlord, whether pursuant to the Lease or otherwise. In the event that any liability of
Purchaser does arise pursuant to this Agreement, such liability shall be limited and restricted to Purchaser’s interest in the Property and shall in no event exceed such interest. Notwithstanding anything to the contrary herein contained:
(i) nothing herein shall relieve Purchaser from its obligations as landlord arising from or after the date which is the earlier of the date that such Purchaser takes title to, or possession of, the Property (“Succession Date”);
and (ii) in no event shall any Purchaser be relieved from any obligation which Landlord has to perform repairs or maintenance which arises after the Succession Date based upon the fact that the need for such repairs or maintenance first arose
prior to the Succession Date. 
 4. NOTICE TO TENANT. After
notice is given to Tenant by Lender that the Landlord is in default under the Note and the Security Instrument and that the rentals under the Lease should be paid to Lender pursuant to the terms of the assignment of leases and rents executed and
delivered by Landlord to Lender in connection therewith, Tenant shall thereafter pay to Lender or as directed by the Lender, all rentals and all other monies due or to become due to Landlord under the Lease and Landlord hereby expressly authorizes
Tenant to make such payments to Lender and hereby releases and discharges Tenant from any liability to Landlord on account of any such payments. 
 5. NOTICE TO LENDER AND RIGHT TO CURE. Tenant shall provide concurrent notice
to Lender of any breach or default by Landlord (the “Default Notice”) under the Lease and agrees that, notwithstanding any provisions of the Lease to the contrary, no notice of cancellation thereof shall be effective unless Lender
shall have received written notice of default giving rise to such cancellation, and, thereafter, the opportunity to cure such breach or default as provided for below. After Lender receives a Default Notice, Lender shall have a period of ten
(10) business days beyond the time available to Landlord under the Lease in which to cure the breach or default by Landlord. Lender shall have no obligation to cure (and shall have no liability or obligation for not curing) any breach or
default by Landlord, except to the extent that 

  
 3 

 
Lender agrees or undertakes otherwise in writing. In addition, as to any breach or default by Landlord the cure of which requires possession and control of the Property, provided that Lender
undertakes, by written notice to Tenant, to exercise reasonable efforts to cure, or cause to be cured by a receiver, such breach or default within the period permitted by this paragraph, Lender’s cure period shall continue for such additional
time as Lender may reasonably require to either: (i) obtain possession and control of the Property with due diligence and thereafter cure the breach or default with reasonable diligence and continuity; or (ii) obtain the appointment of a
receiver and give such receiver a reasonable period of time in which to cure the default. 
 6.
NOTICES. All notices or other written communications hereunder shall be deemed to have been properly given (i) upon delivery, if delivered in person with receipt acknowledged by the recipient thereof,
(ii) one (1) Business Day (hereinafter defined) after having been deposited for overnight delivery with any reputable overnight courier service, or (iii) three (3) Business Days after having been deposited in any post office or
mail depository regularly maintained by the U.S. Postal Service and sent by registered or certified mail, postage prepaid, return receipt requested, addressed as follows: 

 

			
	If to Tenant:	  	Zipcar, Inc.
		  	35 Thomson Place
		  	Boston, Massachusetts 02210
		  	Attn.: General Counsel
		
	with a copy to:	  	Brennan Dain Le Ray Wiest Torpy & Garner, P.C.
		  	129 South Street
		  	Boston, Massachusetts 02111
		  	Attn.: Joseph R. Torpy
		
	If to Lender:	  	Yellow Brick Real Estate Capital I, LLC
		  	c/o LoanCore Capital, LLC
		  	80 Field Point Road
		  	Greenwich, Connecticut 06830
		  	Attn.: Perry Gershon, Vice President
		
	with a copy to:	  	Katten Muchin Rosenman LLP
		  	575 Madison Avenue
		  	New York, New York 10022
		  	Attn.: Timothy G. Little, Esq.

 or addressed as such party may from time to time designate by written notice to the other parties. For purposes of this
Section, the term “Business Day” shall mean a day on which commercial banks are not authorized or required by law to close in the state where the Property is located. Either party by notice to the other may designate additional or
different addresses for subsequent notices or communications. 
 7. SUCCESSORS AND
ASSIGNS. This Agreement shall be binding upon and inure to the benefit of Lender, Tenant and Purchaser and their respective successors and assigns. 

  
 4 

 8. GOVERNING LAW. This Agreement shall
be deemed to be a contract entered into pursuant to the laws of the State where the Property is located and shall in all respects be governed, construed, applied and enforced in accordance with the laws of the State where the Property is located.

 9. MISCELLANEOUS. This Agreement may not be modified in any manner or terminated except
by an instrument in writing executed by the parties hereto. If any term, covenant or condition of this Agreement is held to be invalid, illegal or unenforceable in any respect, this Agreement shall be construed without such provision. This Agreement
may be executed in any number of duplicate originals and each duplicate original shall be deemed to be an original. This Agreement may be executed in several counterparts, each of which counterparts shall be deemed an original instrument and all of
which together shall constitute a single Agreement. The failure of any party hereto to execute this Agreement, or any counterpart hereof, shall not relieve the other signatories from their obligations hereunder. Whenever the context may require, any
pronouns used herein shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns and pronouns shall include the plural and vice versa. 
 [NO FURTHER TEXT ON THIS PAGE] 

  
 5 

 IN WITNESS WHEREOF, Lender and Tenant have duly executed this Agreement as of the date first
above written. 
  

					
	LENDER:
	
	 YELLOW BRICK REAL ESTATE CAPITAL I, LLC,

a Delaware limited liability company

		
	By:	 	 Yellow Brick Real Estate Capital I MM, LLC,
 its Managing Member

			
		 	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	TENANT:
	
	ZIPCAR, INC., a Delaware corporation
		
	By:	 	  

	Name:	 	
	Title:	 	

  

					
	 The undersigned accepts and agrees to
 the provisions of Section 4 hereof:

	
	LANDLORD:
	
	 FARNSWORTH STILLINGS L.P.,
 a Delaware limited partnership

		
	By:	 	Farnsworth Stillings LLC, a
		 	 Massachusetts limited liability company,
 its general partner

		 
			
		 	By:	 	  

		 	Name:	 	
		 	Title:	 	

			
	STATE OF                         
	 	)
		 	)    ss:
	COUNTY OF                         
	 	)

 On the      day of
            , 2012, before me, the undersigned, a Notary Public in and for said state, personally appeared
                    , personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to
the within instrument and acknowledged to me that he/she executed the same in his/her capacity, and that by his/her signature on the instrument, the individual, or the person upon behalf of which the individual acted, executed the instrument.

  

	
	  

	Notary Public

 [Acknowledgment on behalf of Lender] 

 

			
	STATE OF                         
	 	)
		 	)    ss:
	COUNTY OF                         
	 	)

 On the      day of
            , 2012, before me, the undersigned, a Notary Public in and for said state, personally appeared
                    , personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to
the within instrument and acknowledged to me that he/she executed the same in his/her capacity, and that by his/her signature on the instrument, the individual, or the person upon behalf of which the individual acted, executed the instrument.

  

	
	  

	Notary Public

 [Acknowledgment on behalf of Tenant] 

			
	STATE OF                         
	 	)
		 	)    ss:
	COUNTY OF                         
	 	)

 On the      day of
            , 2012, before me, the undersigned, a Notary Public in and for said state, personally appeared
                    , personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to
the within instrument and acknowledged to me that he/she executed the same in his/her capacity, and that by his/her signature on the instrument, the individual, or the person upon behalf of which the individual acted, executed the instrument.

  

	
	  

	Notary Public

 [Acknowledgment on behalf of Landlord] 

 EXHIBIT A 
 (Description of Property) 
 LEGAL DESCRIPTION OF THE PROPERTY (3 pages) 

Lot 1: No. 11-15 Farnsworth Street 

A certain parcel of land situated in the City of Boston, South Boston District, Suffolk County, Commonwealth of Massachusetts, bounded and described as
follows: 
 Beginning at appoint on the southerly sideline of Farnsworth Street, said point is located N 45° 03’53” E, a distance
of 127.39 feet from the intersection of the easterly sideline of Congress Street and the said southerly sideline of Farnsworth Street; 
 Thence
running N 45° 03’53” E along the said southerly sideline of Farnsworth Street, a distance of 78.08 feet; 
 Thence turning and
running S 45° 03’25” E by the exterior face of the wall of the building, a distance of 100.00 feet to the northerly sideline of a 25 foot wide passageway; 
 Thence turning and running S 45° 03’53” W along the said northerly sideline of the passageway, a distance of 97.94 feet to the intersection of the said northerly sideline of the passageway
and the easterly sideline of another 25 foot wide passage way; 
 Thence turning and running N 33° 49’12” W along the said
easterly sideline of the passageway, a distance of 101.90 feet to the point of beginning; 
 Containing an area of 8801 square feet as shown on
a plan entitled “Plan of Land Lot 1 Boston Wharf Company, Boston, Mass. (South Boston District)” dated June 3, 2004, prepared by Harry R. Feldman, Inc., and recorded with the Suffolk County Registry of Deeds on July 6, 2004 in
Book 34964, Page 142. 
 Lot 2: No. 49-51 Farnsworth Street 
 A certain parcel of land situated in the City of Boston, South Boston District, Suffolk County, Commonwealth of Massachusetts, bounded and described as follows: 

Beginning at a point on the southerly sideline of Farnsworth Street, said point is located N 45° 03’53” E, a distance of 581.50 feet from the intersection of the
easterly sideline of Congress Street and the said southerly sideline of Farnsworth Street; 
 Thence running N 45° 03’53” E along
the said southerly sideline of Farnsworth Street, a distance of 90.00 feet; 
 Thence running S 40° 43’32” E along land now or
formerly of the M.B.T.A., a distance of 100.28 feet to the northerly sideline of a 25 foot wide passageway; 
 Thence turning and running S
45° 03’53” W along the said northerly sideline of the passageway, a distance of 82.00 feet; 

  
 H-1

 Thence turning and running N 45° 18’ 16” W by a line through a party wall, a distance of
100.00 feet to the point of beginning; 
 Containing an area of 8600 square feet as shown on a plan entitled “Plan of Land Lot 2 Boston
Wharf Company, Boston, Mass. (South Boston District)” dated June 3, 2004, prepared by Harry R. Feldman, Inc., and recorded with the Suffolk County Registry of Deeds on July 6, 2004 in Book 34964, Page 142. 

Lot 3: No. 19-37 Thomson Place 
 A
certain parcel of land situated in the City of Boston, South Boston District, Suffolk County, Commonwealth of Massachusetts, bounded and described as follows: 
 Beginning at the intersection of the southerly sideline of Thomson Place and the westerly sideline of Calvin Place; 
 Thence running S 44° 55’58” E along the said westerly sideline of Calvin Place, a distance of 119.00 feet to the northerly sideline of Stillings Street; 

Thence turning and running S 45° 04’02” W along the said northerly sideline of Stillings Street, a distance of 256.20 feet; 

Thence turning and running N 44° 55’58” W along the exterior face of the wall of the building, a distance of 118.96 feet to
the southerly sideline of Thomson Place; 
 Thence turning and running N 45 03’31” E along the said southerly sideline of Thomson Place, a
distance of 256.20 feet to the point of beginning; 
 Containing an area of 30,488 square feet as shown on a plan entitled
“Plan of Land Lot 3 Boston Wharf Company, Boston, Mass. (South Boston District)” dated June 3, 2004, prepared by Harry R. Feldman, Inc., and recorded with the Suffolk County Registry of Deeds on July 6, 2004 in Book 34964, Page 142. 

Lot 4: No. 12-56 Thomson Place 
 A
certain parcel of land situated in the City of Boston, South Boston District, Suffolk County, Commonwealth of Massachusetts, bounded and described as follows: 
 Beginning at a point on the northerly sideline of Thomson Place, said point is located N 45° 03’31” E a distance of 127.38 feet from the intersection of the easterly sideline of
Congress Street and the said northerly sideline of Thomson Place; 
 Thence running N 33° 49’12” W along the easterly sideline of a 25 foot wide passageway, a
distance of 101.90 feet to the intersection of the said easterly sideline of the passageway and the southerly sideline of another 25 foot wide passageway; 
 Thence turning and running N 4S° 03’31” E along the said southerly sideline of the passageway, a distance of 507.57 feet; 
 Thence turning and running S 44° 53’35” E along the exterior face of the wall of the building, a distance of 100.00 feet to the northerly sideline of Thomson Place; 

  
 H-2

 Thence turning and running S 45° 03’31” W along the said northerly sideline of Thomson Place,
a distance of 527.14 feet to the point of beginning; 
 Containing an area of 51,736 square feet as shown on a plan
entitled “Plan of Land Lot 4 Boston Wharf Company, Boston, Mass. (South Boston District)” dated June 3, 2004 and revised June 10, 2004, prepared by Harry R. Feldman, Inc., and recorded with the Suffolk County Registry of Deeds on July 6, 2004 in Book
34964, Page 142. 
 Lot 5: Easement 
 Together with the benefit of terms, conditions, easements, rights contained In Deed from Boston Wharf Co. to TF Boston Funding Company, Inc. dated June 30, 2004 recorded on July 6, 2004 in Book 34964, Page 142. 

Lot 6 
 The parcel of real estate in the
Fort Point Channel area of Boston, Massachusetts, adjoining 42-56 Thomson Place and designated 7947 Sq. Ft. on a plan entitled ALTA/ACSM Land Title Survey, Thomson Place, Boston, Mass. (South Boston District) by Harry R. Feldman, Inc. dated
May 3, 2005, updated July 11, 2005 being a portion of a parcel designated 8995 Sq. Ft. on “Subdivision Plan Boston Wharf Company, Boston, Mass. (South Boston District)” dated December 1, 2004 prepared by Harry R. Feldman.
Inc. recorded with Suffolk Registry of Deeds in Book 36l36, Page 271. 
 Together with the non-exclusive right to use the ways known as
Stillings Street, Calvin Place, Thomson Place, Farnsworth Street, and portions of two certain passageways, the first of which (the “T-F Passageway”) runs from Thomson Place to Farnsworth Street on the westerly side of the buildings known
as and numbered 11-15 Farnsworth Street and 12-14 Thomson Place and the second of which (the “Perpendicular Passageway”) runs parallel to, and between, Farnsworth Street and Thomson Place and perpendicular to the T-F passageway
(collectively, the “Streets”), all as shown on those four certain plans entitled “Plan of Land Lot 1 Boston Wharf Company Boston, Mass. (South Boston District)” dated June 3, 2004 and prepared by Harry R. Feldman, Inc.,
“Plan of Land Lot 2 Boston Wharf Company Boston, Mass. (South Boston District)” dated June 3, 2004 and prepared by Harry R. Feldman, Inc., “Plan of Land Lot 3 Boston Wharf Company Boston, Mass. (South Boston District)” dated
June 3, 2004 and prepared by Harry R. Feldman, Inc.* and “Plan of Land Lot 4 Boston Wharf Company Boston, Mass. (South Boston District)” dated June 3, 2004 and revised June 10, 2004 and prepared by Harry R. Feldman, Inc.,
all of which are recorded with the Suffolk County Registry of Deeds on July 6, 2004 in Book 34964, Page 142. 

  
 H-3

 EXHIBIT I 
 PLAN SHOWING THE LAND 
  
 

 

  
 I-1

 EXHIBIT J 
 CLEANING SPECIFICATIONS 
 Lobbies & Common Areas 

Daily: 
  

	 	•	 	 Empty all waster receptacles and replace liners. 

  

	 	•	 	 Remove dust from all furniture, window ledges, radiators, coat racks, artificial plants, paintings and other wall decorations using chemically treated
cloths. 

  

	 	•	 	 Wipe all furniture. 

  

	 	•	 	 Spot clean doors and walls especially around doorframes and light switches. 

 

	 	•	 	 Spot clean all glass. 

  

	 	•	 	 Clean and Polish all elevator doors, walls, etc. 

  

	 	•	 	 Vacuum all carpeting including edges. 

  

	 	•	 	 Sweep and damp mop all hard surface floors. 

  

	 	•	 	 Spot clean all carpeting. 

Weekly: 
  

	 	•	 	 Spray-buff or hi-speed burnishes all hard surface floors. 

 

	 	•	 	 Wash all glass. 

Weekly: 
  

	 	•	 	 Clean and polish elevator tracks. 

  

	 	•	 	 Render all dusting of accessible surfaces not reached by daily cleaning. 

 Monthly: 
  

	 	•	 	 Dust all ceiling vents. 

Yearly: 
  

	 	•	 	 Strip and refinish all hard surface floors. 

  
 J-1

 General Office Areas 
 Daily: 
  

	 	•	 	 Empty all waste receptacles and replace liners. 

  

	 	•	 	 Empty all recyclable material, if any, and remove to central area. 

 

	 	•	 	 Remove dust from all furniture, window ledges, radiators, etc. ( excluding computers, electronic equipments, and personal items.)

  

	 	•	 	 Spot clean all glass doors, partitions and glass walls that may exist. 

 

	 	•	 	 Vacuum all carpeting and stairs. 

  

	 	•	 	 Spot clean all painted wall surfaces. 

 Weekly: 
  

	 	•	 	 Spot clean doors and walls especially around door frames and light switches. 

 

	 	•	 	 Spray-buff or hi-speed burnishes all hard surface floors. 

 Monthly: 
  

	 	•	 	 Wash all glass doors, partitions mid glass walls that may exist. 

 

	 	•	 	 Render all dusting or accessible surfaces not reached by daily cleaning. 

 Quarterly: 
  

	 	•	 	 Dust all ceiling vents. 

Kitchenettes 
 Daily:

  

	 	•	 	 Pull all trash and replace liners. 

  

	 	•	 	 Remove dust from all furniture, window ledges, radiators, coat racks, artificial plants, paintings and other wall decorations.

  

	 	•	 	 Wipe down all tables and chairs. 

  

	 	•	 	 Wipe down all trash containers 

  

	 	•	 	 Vacuum all carpeting 

  

	 	•	 	 Spot clean all carpeting. 

  
 J-2

	 	•	 	 Dry-mop all hard surface floors. 

 Weekly: 
  

	 	•	 	 Spray-buff or hi-speed burnishes all hard surface floors. 

 Quarterly: 
  

	 	•	 	 Vacuum all ceiling vents. 

Rest-Rooms & Showers 

Daily: 
  

	 	•	 	 Pull all trash and replace liners. 

  

	 	•	 	 Replenish towel, soap, toilet paper and Kotex dispensers. 

 

	 	•	 	 Clean and sanitize all toilets, seats, sinks and urinals in and out. 

 

	 	•	 	 Spot wash all doors, walls, partition, etc. 

  

	 	•	 	 Wipe down and clean all mirrors and bright works. 

  

	 	•	 	 Wash down all sink counters. 

  

	 	•	 	 Wash all floors and baseboards with disinfectant cleaner. 

 Quarterly: 
  

	 	•	 	 Wash down all walls, doors, partitions, etc. 

  

	 	•	 	 Dust all ceiling vents. 

  

	 	•	 	 Machine scrub all floor surfaces to remove any buildup in grouting and edges. 

Exit Stairwells & Landings 
 Daily: 
  

	 	•	 	 Police for trash, sweep and spot clean where necessary. 

 Weekly: 
  

	 	•	 	 Dust all handrails, risers, etc. 

  

	 	•	 	 Sweep or vacuum all stairs and landings. 

  

	 	•	 	 Spot wash all door 

  
 J-3

 Front, Sides, & Rear Entrances 

Daily: 
 Pull all trash; empty and clean
ashtrays and pickup any cigarette butts that might exist. 
 Windows 
 Clean interior and exterior surfaces of all exterior windows in the Premises at least once a year. 

  
 J-4

 EXHIBIT K 
 ESCROW AGREEMENT 
 THIS ESCROW AGREEMENT (this
“Agreement”) is made and entered into this     day of November, 2012, by and among FARNSWORTH STILLINGS L.P., a Delaware limited liability company having a mailing address c/o Crosspoint Associates,
Inc., 217 West Central Street, Natick, Massachusetts 01760 (“Landlord”), ZIPCAR, INC., a Delaware corporation having a mailing address of 25 First Street, 4th Floor, Cambridge, Massachusetts 02141, Attention: General Counsel (“Tenant”), and FIDELITY
NATIONAL TITLE INSURANCE COMPANY, having a mailing address at 133 Federal Street, Boston, Massachusetts 02110 (“Escrow Agent”). Landlord and Tenant are sometimes collectively referred to herein as the
“Parties”. 
 WITNESSETH 
 WHEREAS, Landlord and Tenant have entered into a Lease dated as of November     , 2012 (the “Lease”), for the lease of space in the building commonly
known as 35 Thomson Place, Boston, Massachusetts 02210, as more particularly described in the Lease (the “Premises”); and 
 WHEREAS, Section II of Exhibit C to the Lease requires Landlord to pay Tenant an allowance in the amount of One Million One Hundred Fifty-Five Thousand Dollars ($1,155,000.00) (the
“Allowance”), as more fully set forth in the Lease; 
 WHEREAS, pursuant to said Section II, Landlord
has agreed to establish and fund an escrow in the amount of the Allowance (the “Escrow”) to secure Landlord’s obligation to pay the Allowance; and 
 WHEREAS, Landlord and Tenant desire to enter into this Agreement to effectuate the foregoing and to provide for the administration of the funds in the Escrow, and Escrow Agent is willing to act as holder
of such funds, subject to the terms and conditions hereof. 
 NOW, THEREFORE, in consideration of the foregoing and of other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord, Tenant and Escrow Agent hereby agree as follows: 
 1. Capitalized Terms. All capitalized terms used but not otherwise defined in this Agreement shall have the meanings ascribed to them in the Lease. 

2. Appointment of Escrow Agent. The Parties hereby appoint Fidelity National Title Insurance Company as Escrow Agent hereunder. Escrow Agent
hereby accepts such appointment and agrees to perform its duties set forth in this Agreement. 
 3. Delivery of Escrow Funds. Landlord
will deliver to Escrow Agent funds in the amount of One Million, One Hundred Fifty-Five Thousand and No/100 Dollars ($1,155,000.00) (the “Initial Escrow Funds” and, together with any interest thereon, the “Escrow
Funds”) no later than two (2) business days after the Execution Date of the Lease. The Escrow Agent shall 

  
 K-1

 
immediately deposit the Escrow Funds in an interest-bearing money market or money fund account (the “Escrow Account”) with RBS Citizen’s , N.A. (the
“Deposit Bank”) and shall send written acknowledgment of receipt of the Escrow Funds to Landlord and Tenant within two (2) days of receipt of the same. 

 

	4.	Payments to Tenant. 

 (a) Not later than thirty (30) days after satisfaction by Tenant of all of the conditions to the payment of the Allowance set forth in Section II of Exhibit C to the Lease, including, without
limitation, delivery to Landlord of a requisition for the Allowance accompanied by all of the items listed in said section (the “Disbursement Conditions”), Landlord shall direct Escrow Agent in writing to disburse to Tenant
so much of the Allowance as is due and payable under the Lease (the “Allowance Payment”). Landlord shall provide a copy of such disbursement notice to Tenant concurrently with sending the same to Escrow Agent. If Landlord
fails to direct Escrow Agent to disburse the Allowance Payment within the time period set forth above, then Tenant shall have the right to provide notice of such failure (a “Payment Failure Notice”) to Landlord and to Escrow
Agent. The Payment Failure Notice shall include (i) a demand for payment of the Allowance Payment stating the amount thereof, and (ii) substantially the following provision in bold face and in all capital letters at the top thereof:
“PAYMENT FAILURE NOTICE: IF LANDLORD FAILS, WITHIN FIVE (5) DAYS AFTER RECEIPT OF THIS NOTICE, EITHER (A) TO MAKE PAYMENT OF THE ALLOWANCE PAYMENT OR (B) TO PROVIDE A LANDLORD’S DISPUTE NOTICE TO ESCROW AGENT AND TENANT,
THEN ESCROW AGENT SHALL DISBURSE TO TENANT AN AMOUNT EQUAL TO THE SUM OF THE ALLOWANCE PAYMENT SET FORTH BELOW.” If Landlord does not, within five (5) days after receipt of such Payment Failure Notice, (i) make the payment in
question (and Escrow Agent shall be entitled to rely on any certification from an officer of Tenant stating that the payment was not made within such period, a copy of which certification shall be delivered to Landlord concurrently with delivery of
the same to Escrow Agent), or (ii) provide Tenant and Escrow Agent with a Landlord’s Dispute Notice, Escrow Agent shall disburse to Tenant the Allowance Payment. For purposes of this Agreement, a “Landlord’s Dispute
Notice” shall mean a notice setting forth in reasonable detail the reasons that Landlord believes, in good faith, that Tenant is not entitled to all or any portion of the Allowance Payment, which reasons shall be limited to either
(i) the existence of a Default by Tenant under the Lease or (ii) Tenant’s failure to deliver to Landlord the documentation identified in Section II of Exhibit C to the Lease. Escrow Agent shall disregard any Landlord’s Dispute
Notice and make payment of the Allowance Payment if Landlord’s Dispute Notice fails to identify a reason described in either or both of clauses (i) and (ii) above as the reason(s) that Tenant is not entitled to the Allowance Payment.
If Landlord’s Dispute Notice indicates that Landlord disputes only a portion of the amount set forth on the Payment Failure Notice and Landlord fails to pay the undisputed portion of such amount within five (5) days after Landlord’s
receipt of the applicable Payment Failure Notice, then Escrow Agent shall disburse to Tenant the undisputed portion of the Allowance Payment. 

  
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 (b) Escrow Agent shall deliver promptly to Tenant the Allowance Payment
either by, at Tenant’s election, (i) bank or cashier’s check to Tenant’s address set forth in Section 8 below, or (ii) federal wire transfer to Tenant’s bank account in accordance with Tenant’s written
instructions with respect thereto. 
 (c) Landlord and Tenant hereby agree to work together reasonably and in
good faith to resolve any issue(s) raised in good faith in any Landlord’s Dispute Notice. If Landlord and Tenant fail to resolve any such issue within ten (10) days after Tenant’s receipt of the applicable Landlord’s Dispute
Notice, the same shall be determined by arbitration in accordance with the provisions of Section 6 below. 
 5. Release of Escrow Funds
and Termination of Escrow. At any time after the earlier to occur of (i) the date on which the entire amount of the Initial Escrow Funds has been paid to Tenant pursuant to the terms of Section 4 of this Agreement, and (ii) the
date that is two (2) years after the Commencement Date, provided that as of such date there is no requisition for an Allowance Payment that has been submitted in compliance with the Disbursement Conditions and remains unpaid. Landlord shall
have the right to deliver to Escrow Agent and Tenant a notice (the “Landlord’s Release Notice”) setting forth in reasonable detail the reasons that Landlord believes, in good faith, that it is entitled to a release of
the remaining funds held in the Escrow Account (the “Remaining Escrow Funds”). If Tenant does not, within five (5) days after receipt of Landlord’s Release Notice, deliver to Landlord and Escrow Agent a
Tenant’s Dispute Notice (as defined below), then Escrow Agent shall deliver the Remaining Escrow Funds promptly to Landlord either by, at Landlord’s election, (i) bank or cashier check to Landlord’s address set forth in
Section 8 below or (ii) federal wire transfer to Landlord’s bank account in accordance with Landlord’s written instructions with respect thereto and shall close the Escrow Account. Upon delivering the Remaining Escrow Funds to
Landlord, Escrow Agent shall thereupon be relieved of and discharged and released from any and all liability hereunder. For purposes hereof, a “Tenant’s Dispute Notice” shall mean a notice setting forth in reasonable
detail the reasons that Tenant believes, in good faith, that Landlord is not entitled to a release of the Remaining Escrow Funds. Landlord and Tenant hereby agree to work together reasonably and in good faith to resolve any issue(s) raised in good
faith in any Tenant’s Dispute Notice. If Landlord and Tenant fail to resolve any such issue within ten (10) days after Tenant’s receipt of the applicable Landlord’s Dispute Notice, the same shall be determined by arbitration in
accordance with the provisions of Section 6 below. 
 6. Arbitration. Any disputes as to whether, and how much of, the Allowance
Payment should be paid to Tenant shall be submitted to arbitration in accordance with the provisions of Massachusetts law, as from time to time amended. Arbitration proceedings, including the selection of an arbitrator, shall be conducted pursuant
to the rules, regulations and procedures from time to time in effect as promulgated by the American Arbitration Association. Prior written notice of application by either party for arbitration shall be given to the other at least ten (10) days
before submission of the application to the said Association’s office in the City of Boston. The arbitrator shall hear the parties and their evidence. The decision of the arbitrator shall be binding and conclusive, and judgment upon the award
or decision of the arbitrator may be entered in the Massachusetts Superior Court; and the parties consent to the jurisdiction of such court and further agree that any process or notice of motion or other application to the court or a judge thereof
may be served outside the Commonwealth of Massachusetts by registered mail 

  
 K-3

 
or by personal service, provided a reasonable time for appearance is allowed. The costs and expenses of each arbitration hereunder and their apportionment between the parties shall be determined
by the arbitrator in his award or decision; provided, however, in the event such arbitration involves a finding that Landlord wrongfully withheld payment of the Allowance, Landlord shall be solely responsible for the costs and expenses of such
arbitration. 
  

	7.	Additional Escrow Provisions. 

 (a) In the event that (i) Escrow Agent shall receive contrary instructions from the Parties hereto; (ii) any dispute shall arise as to any matter arising under this Agreement; or
(iii) there shall be any uncertainty as to the meaning or applicability of any of the provisions hereof, Escrow Agent’s duties, rights or responsibilities hereunder or any written instructions received by Escrow Agent pursuant hereto, then
Escrow Agent may either (y) continue to hold the Escrow Funds pursuant to this Agreement until receipt of instructions signed by the Parties as to the disposition of the Escrow Funds, in which event Escrow Agent shall provide Landlord and
Tenant with prompt notice of the reason for Escrow Agent continuing to hold the Escrow Funds in escrow and stating in reasonable detail the grounds therefor, or (z) deliver all Escrow Funds held in the Escrow Account unto a court of competent
jurisdiction to resolve the dispute and/or adjudicate the final disposition of such funds and bring an action of interpleader or other comparable proceeding. In the event of litigation between the Parties as to the disposition of the Escrow Funds,
Escrow Agent may either continue to hold the Escrow Funds pursuant to this Agreement pending the resolution of the litigation or may deliver all Escrow Funds held in the Escrow Account to the clerk of the court in which any such litigation is
pending. Upon delivery of the Escrow Funds to the court as provided in this Section 6, Escrow Agent shall thereupon be relieved of, and discharged and released from, any and all liability hereunder. In any such event, the Parties agree to pay
the reasonable attorneys’ fees and costs incurred by Escrow Agent (which the Parties shall share equally), for any litigation in which Escrow Agent is named as, or becomes, a party; provided, however, in the event such litigation results in a
decision or settlement that Landlord wrongfully withheld payment of the Allowance, Landlord shall be solely responsible for the fees and costs incurred by Escrow Agent . 

(b) Escrow Agent may rely and/or act upon any judgment, certificate, demand or other writing delivered to it hereunder
without being required to determine the authenticity or the correctness of any fact stated therein, the propriety or validity thereof, or the jurisdiction of a court issuing any such judgment. Escrow Agent shall be entitled to rely upon the
authenticity of any signature and the genuineness and/or validity of any writing received by Escrow Agent pursuant to or otherwise relating to this Agreement. 
 (c) The Parties recognize and acknowledge that Escrow Agent is serving as an accommodation to the Parties and each agrees that Escrow Agent shall not be liable to any of the Parties for any error of
judgment, mistake or act or omission hereunder or any matter or thing arising out of its conduct hereunder, except for Escrow Agent’s willful misconduct or gross negligence. 

  
 K-4

 (d) Landlord and Tenant hereby agree to indemnify and hold harmless Escrow
Agent from and against any and all costs, claims, damages or expenses howsoever occasioned that may be incurred by Escrow Agent acting under this Agreement or to which Escrow Agent may be put in connection with Escrow Agent acting under this
Agreement (including reasonable attorneys’ fees and costs), except for costs, claims or damages arising out of Escrow Agent’s willful misconduct and gross negligence. 
 8. Notices. All notices and other communications required or permitted hereunder shall be in writing and shall be deemed to have been duly and sufficiently given if personally delivered or
delivered via overnight mail courier with proof of delivery thereof, or sent by United States registered or certified mail, postage prepaid, addressed to the respective parties as follows: 

 

	 	A.	If to Escrow Agent: 

 Fidelity
National Title Insurance Company 
 133 Federal Street 
 Boston, MA 02110 
 Attention: Kevin T. Creedon, Esq. 

 

	 	B.	If to Landlord: 

 Farnsworth
Stillings L.P. 
 c/o Crosspoint Associates, Inc. 
 217 West Central Street 
 Natick, MA 01760 

With a copy to: 

Goulston & Storrs, P.C. 
 400 Atlantic Avenue 
 Boston, MA 02110 

Attn: Crosspoint 
  

	 	C.	If to Tenant: 

 Zipcar, Inc.

 25 First Street, Fourth Floor 
 Cambridge, MA 02141 
 Attention: General Counsel 

With a copy to: 

Brennan, Dain, Le Ray, Wiest, Torpy & Garner, P.C. 

129 South Street, 3rd floor 
 Boston, MA 02111 
 Attn: Joseph R. Torpy 

  
 K-5

 Any party may, by notice given as aforesaid, change the person or persons and/or address or
addresses, or designate an additional person or persons or an additional address or addresses, for its notices, provided, however, that notices of change of address or addresses shall only be effective upon receipt. Copies of all
notices, certificates or other communications relating to this Agreement with respect to which Escrow Agent is not the addressee or sender shall be sent to Escrow Agent in the manner hereinabove set forth. All such notices shall be effective upon
delivery, attempted delivery, or refusal, whichever occurs first, at the address or addresses of the intended recipient, as set forth above. 

9. Governing Law; Submission to Jurisdiction. This Agreement shall be governed, construed and interpreted in accordance with the laws of the
Commonwealth of Massachusetts, and the parties agree to submit to the personal jurisdiction of any court (federal or state) in said Commonwealth for any dispute, claim or proceeding arising out of or relating to this Agreement 

10. Severability. If any term, condition or provision of this Agreement or the application thereof to any circumstance or party hereto, shall ever
be held to be invalid or unenforceable, then in each such event, the remainder of this Agreement or the application of such term, condition or provision to any other circumstance or party hereto (other than those to which it shall be invalid or
unenforceable) shall not thereby be affected, and each term, condition and provision hereof shall remain valid and enforceable to the fullest extent permitted by law. 
 11. Successors and Assigns. This Agreement shall be binding on and inure to the benefit of all parties hereto and their successors and assigns and may not be modified or amended orally, but only in
writing signed by all parties hereto. 
 12. Counterparts. This Agreement may be executed in any number of counterparts, each counterpart
for all purposes being deemed an original, and all such counterparts shall together constitute one and the same agreement. 
 13. Interest on
Allowance. In the event the Allowance is not paid to Tenant when due, Landlord shall pay interest to Tenant on the amount of the Allowance not so paid (at the interest rate specified in Section 4 of the Lease with respect to past due rent)
from the date the same was due until the date such amount is paid to Tenant. 
 [Remainder of page intentionally left blank;
Signatures appear on following pages.] 

  
 K-6

 IN WITNESS WHEREOF the undersigned have caused this instrument to be duly executed as an instrument under
seal as of the day and year first above written. 
  

					
	LANDLORD:
	
	FARNSWORTH STILLINGS L.P., a 
	Delaware limited partnership
		
	By:	 	Farnsworth Stillings LLC, its general partner
		 		 	
	By:	 	  

		 		 	John W. Hueber, Manager
	
	TENANT:
	
	ZIPCAR, INC., a Delaware corporation
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	Escrow Agent:
	
	 FIDELITY NATIONAL TITLE
 INSURANCE COMPANY

		
	By:	 	  

			
		 	Name:	 	
		 	Its:	 	
		 	Hereunto duly authorized

  
 K-7

 EXHIBIT L 
 ZIPCAR PARKING SPACE AREA 
  
 

 

  
 L-1

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