Document:

Exhibit
10.11

ENVIRONMENTAL INDEMNITY AGREEMENT

THIS ENVIRONMENTAL
INDEMNITY AGREEMENT is executed as of June 26, 2014, by IREIT LITTLE ROCK MIDTOWNE, L.L.C, a Delaware limited liability company
(“Borrower”), and INLAND REAL ESTATE INCOME TRUST, INC., a Maryland corporation (“Guarantor”;
Borrower and Guarantor are sometimes hereinafter referred to, individually and collectively, as “Indemnitor”),
to and for the benefit of JPMORGAN CHASE BANK, N.A., a national banking association ("Lender").

RECITALS

A. Borrower
and Lender have entered into that certain Loan Agreement of even date herewith (the “Loan Agreement”), pursuant
to which Lender has agreed to make disbursements to Borrower in an amount not to exceed TWENTY MILLION SEVEN HUNDRED TWENTY-FIVE
THOUSAND AND NO/100 DOLLARS ($20,725,000.00.00) (the “Loan”), for the purpose of the finance of Midtowne Little
Rock shopping center located in the City of Little Rock, County of Pulaski and State of Arkansas, and certain expenditures with
respect thereto, which Loan is evidenced by a promissory note of even date herewith (as amended, restated or replaced from time
to time, the “Note”), and is secured in part by a deed of trust of even date herewith (as amended, restated
or replaced from time to time, the “Instrument”) encumbering the property described in the Instrument (the “Property”).

B. Lender is
not willing to make the Loan, or otherwise extend credit, to Borrower unless Indemnitor executes and delivers this Agreement (as
hereinafter defined) and Lender is relying on the statements and agreements contained herein in making the Loan.

C.Guarantor
is the owner of a direct or indirect interest in Borrower, and Guarantor will directly benefit from Lender making the Loan to Borrower.

AGREEMENT

NOW, THEREFORE,
as an inducement to Lender to make the Loan to Borrower, and for other good and valuable consideration, the receipt and legal sufficiency
of which are hereby acknowledged, Indemnitor hereby certifies, represents, and warrants to Lender, and agrees as follows:

1.              
Definitions. As used herein,
the following terms shall have the meaning specified below:

1.1           
The term “Agreement” shall mean this Environmental Indemnity Agreement
and all modifications, supplements, and amendments thereto.

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1.2           
The term “Applicable Rate” shall mean at any given time, (a) the rate per
annum equal to the prime rate of interest (the “Prime Rate”) announced from time to time by Lender or its parent
(which is not necessarily the lowest rate charged to any customer) changing when and as said prime rate changes, or, (b) if the
Note is in default, the default rate of interest under the Note. If the Note has been paid in full, the Applicable Rate shall mean
the Prime Rate.

1.3           
The term “De Minimis Amounts” shall mean any Hazardous Substance either
(a) being transported on or from the Property or being stored for use by Borrower or its tenants on the Property within a
year from original arrival on the Property in connection with Borrower’s current operations or (b) being currently used by
Borrower or its tenants on the Property, in either case in such quantities and in a manner that both (i) does not constitute a
violation or threatened violation of any Environmental Law or require any reporting or disclosure under any Environmental Law and
(ii) is consistent with customary business practice for such operations in the state where the Property is located.

1.4           
The term “Environmental Claim” shall mean any and all actual or threatened
liabilities, claims, actions, causes of action, judgments, orders, inquiries, investigations, studies or notices relating to any
Hazardous Substance or any Environmental Law including without limitation those arising as a result of strict liability, whether
under Environmental Law or otherwise, and those arising out of the negligence of the Indemnified Party.

1.5           
The term “Environmental Law” shall mean any federal, state or local law,
whether common law, statute, ordinance, rule, regulation, or judicial or administrative decision or policy or guideline, pertaining
to Hazardous Substances, health, industrial hygiene, environmental conditions, or the regulation or protection of the environment,
and all amendments thereto as of this date and to be added in the future and any successor statute or rule or regulation promulgated
thereto.

1.6           
The term “Hazardous Substance” shall mean all of the following:

(a)            
Any substance, material, or waste that is included within the definitions of “hazardous
substances,” “hazardous materials,” “hazardous waste,” “toxic substances,” “toxic
materials,” “toxic waste,” or words of similar import in any Environmental Law;

(b)           
Those substances listed as hazardous substances by the United States Department of Transportation
(or any successor agency) (49 C.F.R. 172.101 and amendments thereto) or by the Environmental Protection Agency (or any successor
agency) (40 C.F.R. Part 302 and amendments thereto); and

(c)            
Any substance, material, or waste that is petroleum, petroleum-related, or a petroleum by-product,
asbestos or asbestos-containing material, polychlorinated biphenyls, flammable, explosive, radioactive, freon gas, radon, or a
pesticide, herbicide, or any other agricultural chemical.

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1.7           
The term “Indemnified Parties” shall mean and includes Lender, any parent,
subsidiary, or affiliated company of Lender, any assignee or successor in interest of all or part of Lender’s interest in
the Loan or the Loan Documents, any owner of a participation interest in the Loan or the Loan Documents, any purchaser who acquires
all or part of the Property from Lender, its parent, or any of its subsidiaries or affiliates, any recipient of a deed or assignment
in lieu of foreclosure of all or part of the Property, any court appointed receiver, and the officers, directors, employees and
agents of each of them.

1.8           
The term “Loan Documents” shall mean the Loan Agreement, the Note, the
Instrument and any other documents evidencing, securing or otherwise relating to the Loan, as such documents may be amended, modified,
supplemented or restated from time to time. Any default or failure in performance of any provision of this Agreement, after
written notice to Indemnitor and an opportunity to cure, shall, at the option of the Indemnified Parties, constitute a Default
under the Loan Documents. 

1.9           
The term “Property” shall mean all property that is or was at any time
affected by the Instrument, which may later include any and all property previously released from the Instrument.

1.10        
The term “Release” shall mean any releasing, spilling, leaking, pumping,
pouring, emitting, emptying, discharging, injecting, escaping, leaching, migrating, disposing, or dumping of any substance into
the environment.

2.              
Representations and Warranties.

(a)            
Except as disclosed in the Phase I Environmental Site Assessment Report prepared by CBRE,
Inc. as CBRE Project No. 14-460TX-0327 and dated March 31, 2014, Borrower represents and warrants to the Indemnified Parties that
neither the Property nor Borrower nor, to Borrower’s knowledge, any tenant are in violation of any Environmental Law applicable
to the Property, and neither the Property nor Borrower nor, to Borrower’s knowledge, any tenant are subject to any existing,
pending or threatened investigation pertaining to the Property by any federal, state or local governmental authority or are subject
to any remedial obligation or lien under or in connection with any Environmental Law.

(b)           
Indemnitor represents and warrants to the Indemnified Parties that Indemnitor, including,
without limitation, any officer, director, employee, agent, affiliate, tenant, joint venture or partner of Indemnitor, has no actual
knowledge or notice of the actual, alleged or threatened presence or Release of Hazardous Substances in, on, around or potentially
affecting any part of the Property or the soil, groundwater or soil vapor on or under the Property, or the migration of any Hazardous
Substance, from or to any other property adjacent to or in the vicinity of the Property, provided that the foregoing representation
and warranty does not apply to De Minimis Amounts. 

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(c)            
Borrower has undertaken an appropriate inquiry into the previous ownership and uses of the
Property consistent with good commercial practice. If any environmental questionnaire is executed by Borrower and delivered to
Lender, Borrower represents and warrants to the Indemnified Parties that, to Borrower’s knowledge, the information disclosed
in any such environmental questionnaire is true, complete and correct.

(d)           
Borrower’s intended future use of Property will not result in the Release of any Hazardous
Substance other than De Minimis Amounts, in, on, around or potentially affecting any part of the Property or in the soil, groundwater
or soil vapor on or under the Property, or the migration of any Hazardous Substance from or to any other property adjacent to or
in the vicinity of the Property.

(e)            
Each Indemnitor represents and warrants that this Agreement (i) has been authorized by all
necessary action; (ii) does not violate any agreement, instrument, law, regulation or order applicable to such Indemnitor; (iii)
does not require the consent or approval of any person or entity, including but not limited to any governmental authority, or any
filing or registration of any kind; and (iv) is the legal, valid and binding obligation of such Indemnitor enforceable against
such Indemnitor in accordance with its terms, except to the extent that enforcement may be limited by applicable bankruptcy, insolvency
and other similar laws affecting creditors' rights generally. 

3.              
Covenants of Indemnitor.

(a)            
Borrower shall neither use nor permit any third party to use, generate, manufacture, produce,
store, or Release, on, under or about the Property, or transfer to or from the Property, any Hazardous Substance except De Minimis
Amounts in compliance with all applicable Environmental Laws, provided that if any third party, by act or omission or by intent
or accident, allows any foregoing action to occur, Borrower shall promptly remedy such condition, at its sole expense and responsibility,
in accordance with Paragraph 5 below. Furthermore, Borrower shall not permit any liens under any Environmental Law to be placed
on any portion of the Property.

(b)           
Borrower has complied, and shall comply and require all occupants of the Property, regardless
of length of occupancy, to comply, at Borrower’s sole expense and responsibility, with all Environmental Laws governing or
applicable to Hazardous Substances, including those requiring disclosures to prospective and actual buyers of all or any portion
of the Property. 

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(c)            
Indemnitor shall promptly notify Lender in writing if Indemnitor, including, without limitation,
any officer, director, employee, agent, affiliate, joint venture, or partner of Indemnitor, has any actual knowledge or notice
of the following: (i) that any statement in Paragraph 2 of this Agreement is no longer accurate, (ii) any lien, action or notice
affecting the Property or Indemnitor resulting from any violation or alleged violation of the Environmental Law, (iii) the institution
of any investigation, inquiry or proceeding concerning Indemnitor or the Property pursuant to any Environmental Law or otherwise
relating to Hazardous Substances (except for De Minimis Amounts), or (iv) the discovery of any occurrence, condition or state of
facts which would render any representation or warranty contained in this Agreement incorrect in any respect if made at the time
of such discovery.

(d)           
Indemnitor’s obligations under this Agreement shall not be diminished or affected in
any respect as a result of any notice, disclosure or knowledge, if any, to or by any of the Indemnified Parties of the Release,
presence, existence or threatened Release of Hazardous Substances in, on, around, or potentially affecting the Property or the
soil, groundwater or soil vapor on or under the Property, or of any matter covered by Indemnitor’s obligations hereunder.
No Indemnified Party shall be deemed to have permitted, caused, contributed to or acquiesced in any such Release, presence, existence
or threatened Release of Hazardous Substances or any other matter covered by Indemnitor’s obligations hereunder solely because
Lender or any other Indemnified Party had notice, disclosure or knowledge thereof, whether at the time this Agreement is delivered
or at any other time.

(e)            
Indemnitor shall conduct and complete, to Lender’s satisfaction, all remedial, removal,
and other actions necessary to clean up and remove Hazardous Substances (other than De Minimis Amounts) in, on, or materially affecting
the Property: (i) in accordance with all applicable Environmental Laws; and (ii) in accordance with all applicable orders and directives
of all governmental authorities. Indemnitor shall provide to Lender copies of all results and reports relating to such remedial,
removal, and other actions.

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4.              
Lender Rights.

(a)            
Lender shall have the right, but not the obligation, without in any way limiting Lender’s
other rights and remedies under the Loan Documents, with the prior written consent of Indemnitor, to enter onto the Property, take
and remove soil or groundwater samples, conduct tests and/or site assessments on any part of the Property or to take such other
actions as it deems necessary or advisable to clean up, remove, resolve, or minimize the impact of, or otherwise deal with, any
Hazardous Substances on or affecting the Property following receipt of any written notice from any person or entity asserting the
existence or possible existence of any Hazardous Substances pertaining to the Property or any part thereof that, if true, could
result in an Environmental Claim, order, notice, suit, imposition of a lien on the Property, or other action and/or that, in Lender’s
reasonable opinion, could jeopardize Lender’s security under the Loan Documents. All reasonable third party out of pocket
costs and expenses paid or incurred by Lender in the exercise of any such rights shall be payable by Indemnitor upon demand.

(b)           
Lender shall have the right at any time to appear in and to participate in, as a party if
it elects, and be represented by counsel of its own choice in, any action or proceeding in connection with any Environmental Law
that affects the Property. Upon demand by any Indemnified Party, Indemnitor shall defend any investigation, action or proceeding
involving any matter covered by Indemnitor’s obligations hereunder which is brought or commenced against any Indemnified
Party, whether alone or together with Borrower or any other person, all at Indemnitor’s own cost and by counsel to be approved
by the Indemnified Party in the exercise of its reasonable judgment. In the alternative, any Indemnified Party may elect to conduct
its own defense at the expense of Indemnitor. Indemnitor shall not, without the prior written consent of Lender: (a) settle or
compromise any action, suit, proceeding or claim or consent to the entry of any judgment that does not include as an unconditional
term thereof the delivery by the claimant or plaintiff to Lender of a full and complete written release of the Indemnified Parties
(in form, scope and substance satisfactory to Lender in its sole discretion) from all liability in respect of such action, suit,
proceeding or claim; or (b) settle or compromise any action, suit, proceeding or claim in any manner that may adversely affect
the Indemnified Parties or obligate the Indemnified Parties to pay any sum or perform any obligation as determined by Lender in
its sole discretion.

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5.              
Indemnification. Indemnitor
shall jointly and severally indemnify and hold the Indemnified Parties harmless from, for and against any and all Environmental
Claims, liabilities, damages (including foreseeable and unforeseeable damages), losses, fines, penalties, judgments, awards, settlements,
and costs and expenses (including, without limitation, reasonable attorneys’ fees, experts’, engineers’ and consultants’
fees, and costs and expenses of investigation, testing, remediation and dispute resolution) (collectively referred to as “Environmental
Costs”) that directly or indirectly arise out of or relate in any way to:

(a)            
Any investigation, cleanup, remediation, removal, or restoration work of site conditions of
the Property relating to Hazardous Substances (whether on the Property or any other property); 

(b)           
Any resulting damages, harm, or injuries to the person or property of any third parties or
to any natural resources involving Hazardous Substances relating to the Property; 

(c)            
Any actual or alleged past or present disposal, generation, manufacture, presence, processing,
production, Release, storage, transportation, treatment, or use of or presence of any Hazardous Substance on, under, or about the
Property; 

(d)           
Any actual or alleged presence of Hazardous Substances on the Property; 

(e)            
Any actual or alleged past or present violation of any Environmental Law relating to the Property;

(f)            
Any actual or alleged past or present migration of any Hazardous Substance from the Property
to any other property, whether adjoining, in the vicinity, or otherwise, or migration of any Hazardous Substance onto the Property
from any other property, whether adjoining, in the vicinity, or otherwise; 

(g)           
Any lien on any part of the Property under any Environmental Law; 

(h)           
Any Environmental Claim by any federal, state, or local governmental agency and any claim
that any Indemnified Party is liable for any such asserted Environmental Claim allegedly because it is an “owner” or
“operator” of the Property under any Environmental Law; 

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(i)             
Any Environmental Claim asserted against any Indemnified Party by any person other than a
governmental agency, including any person who may purchase or lease all or any portion of the Property from Borrower, from any
Indemnified Party, or from any other purchaser or lessee; any person who may at any time have any interest in all or any portion
of the Property; any person who may at any time be responsible for any cleanup costs or other Environmental Claims relating to
the Property; and any person claiming to have been injured in any way as a result of exposure to any Hazardous Substance relating
to the Property; 

(j)             
Any Environmental Claim which any Indemnified Party reasonably believes at any time may be
incurred to comply with any law, judgment, order, regulation, or regulatory directive relating to Hazardous Substances and the
Property, or which any Indemnified Party reasonably believes at any time may be incurred to protect the public health or safety;

(k)           
Any Environmental Claim resulting from currently existing conditions in, on, around, or materially
affecting the Property, whether known or unknown by Borrower or the Indemnified Parties at the time this Agreement is executed,
and any such Environmental Claim resulting from the activities of Borrower, Borrower’s tenants, or any other person, in,
on, around, or materially affecting the Property; or

(l)             
Breach of any representation or warranty by or covenant of Indemnitor in this Agreement.

Notwithstanding anything contained herein
to the contrary, the foregoing indemnity shall not apply to (i) matters resulting solely from the gross negligence or willful
misconduct of any Indemnified Party, or (ii) matters resulting solely from the actions of Indemnified Parties taken after
such parties have taken title to, or exclusive possession of the Property, provided that, in both cases, such matters shall not
arise from or be accumulated with any condition of the Property, which condition was not caused by an Indemnified Party. The
foregoing indemnity is expressly intended to include, and does include, any Environmental Costs arising as a result of any strict
liability imposed or threatened to be imposed on an Indemnified Party in connection with any of the indemnified matters described
in this Paragraph 5 or arising as a result of the negligence of an Indemnified Party in connection with such matters.

6.              
Reinstatement of Obligations.
If at any time all or any part of any payment made by Indemnitor or received by an Indemnified Party from Indemnitor under or with
respect to this Agreement is or must be rescinded or returned for any reason whatsoever (including, but not limited to, the insolvency,
bankruptcy or reorganization of Indemnitor), then the obligations of Indemnitor hereunder shall, to the extent of the payment rescinded
or returned, be deemed to have continued in existence, notwithstanding such previous payment made by Indemnitor, or receipt of
payment by an Indemnified Party, and the obligations of Indemnitor hereunder shall continue to be effective or be reinstated, as
the case may be, as to such payment, all as though such previous payment by Indemnitor had never been made.

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7.              
Reservation of Rights. Nothing
in this Agreement shall be construed to limit any claim or right which any Indemnified Party may otherwise have at any time against
Indemnitor or any other person arising from any source other than this Agreement, including any claim for fraud, misrepresentation,
waste, or breach of contract other than this Agreement, and any rights of contribution or indemnity under federal, state or local
environmental law or other applicable law, regulation or ordinance.

8.              
No Waiver; Rights Cumulative.
If any Indemnified Party delays or fails to exercise any right or remedy against Indemnitor, that alone shall not be construed
as a waiver of that right or remedy. All remedies of any Indemnified Party against Indemnitor are cumulative.

9.              
Successors and Assigns. This
Agreement shall be binding upon Indemnitor and its successors and shall inure to the benefit of the Indemnified Parties, and the
successors and assigns of the Indemnified Parties. Indemnitor shall not have any right to assign its obligations under this Agreement.
This Agreement is assignable by Lender, and any full or partial assignment hereof by Lender shall operate to vest in the assignee
all rights and powers herein conferred upon and granted to Lender and so assigned by Lender. Indemnitor expressly waives notice
of transfer or assignment of this Agreement and acknowledges that the failure by Lender to give any such notice shall not affect
the liabilities of Indemnitor hereunder.

10.           
Termination. The indemnity
obligations of Indemnitor pursuant to Paragraph 5 of this Agreement and all other obligations of Indemnitor hereunder shall survive
until terminated in accordance with this Paragraph 10, which termination shall occur upon the full satisfaction of either
of the following conditions: 

(a)            
The Loan shall have been repaid in full and in accordance with its terms, any lending commitment
shall have expired or been terminated, and all obligations of the Borrower under the Loan Documents have been performed in full
in accordance with their terms; provided, however that the obligations of Indemnitor under this Agreement shall not terminate until
(x) one (1) year has passed from the date the conditions set forth above have been satisfied, and (y) Lender has not received notice
of any Environmental Claim relating to the Property that has not been fully satisfied or settled to the Lender’s satisfaction;
or 

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(b)           
The Loan shall not have been repaid in full and in accordance with its terms and (x) one or
more of the following events have occurred: (i) the acceptance by Lender of the surrender of the Note and reconveyance of the Instrument,
(ii) the foreclosure of the Instrument, (iii) the extinguishment of the Instrument by any means, including deed or assignment in
lieu of foreclosure, (iv) the acquisition of the Property or any portion of it by any of the Indemnified Parties, and (v) the transfer
of all of Lender’s rights in the Loan Documents, or through the exercise of any other rights and remedies by Lender (including,
without limitation, foreclosure, trustee’s sale or actions on promissory notes, guaranties or other obligations); (y) two
(2) years have elapsed from the date which is the date of the occurrence of the latest to occur of the events described in (i)-(v)
of this subparagraph and (z) Lender has received a Phase I or similar investigative report (at Indemnitor’s sole cost and
expense) in form and substances satisfactory to Lender.

11.           
Full Recourse. The indemnity
contained herein shall not be subject to any non-recourse or other limitation of liability provisions contained in any of the Loan
Documents executed and delivered in connection with the Loan and the liability of Indemnitor under this Agreement shall not be
limited by any such non-recourse or similar limitation of liability provisions.

12.           
Misrepresentation. If any
material warranty, representation or statement contained herein shall be or shall prove to have been false when made or if Indemnitor
shall fail or neglect to perform or observe any of the terms, provisions or covenants contained herein, the same shall constitute
a Default (as defined in the Loan Agreement) under the Loan Documents.

13.           
Notices. Any notice required
or permitted in connection herewith shall be given in the manner provided in any Loan Document.

14.           
Reliance; Separate Action.
Indemnitor acknowledges that Lender has and will rely upon the representations, warranties and agreements herein set forth in closing
and funding (or modifying as the case may be) the Loan and that the execution and delivery of this Agreement is an essential condition
but for which Lender would not close or fund (or modify) the Loan. Indemnitor agrees that this Agreement and the indemnity contained
herein is separate, independent and in addition to the undertakings of Indemnitor under the Loan Documents. Indemnitor agrees that
a separate action may be brought to enforce the provisions of this Agreement which shall in no way be deemed to be an action on
the Note, whether or not the Indemnified Parties would be entitled to a deficiency judgment following a judicial foreclosure or
sale under the Instrument. 

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15.           
Waiver. Indemnitor waives
any right or claim of right to cause a marshaling of the assets of Indemnitor or to cause Lender to proceed against any of the
security for the Loan before proceeding under this Agreement against Indemnitor. Indemnitor agrees that any payments required to
be made hereunder shall become due on demand. Indemnitor expressly waives and relinquishes all rights, remedies and defenses accorded
by applicable law to sureties, indemnitors or guarantors, except any rights of subrogation that Indemnitor may have, provided that
the indemnity provided for hereunder shall neither be contingent upon the existence of any such rights of subrogation nor subject
to any claims or defenses whatsoever that may be asserted in connection with the enforcement or attempted enforcement of such subrogation
rights, including, without limitation, any claim that such subrogation rights were abrogated by any acts or omissions of Lender.

16.           
Successive Actions. Notwithstanding
any law to the contrary, the parties expressly agree that a separate right of action hereunder shall arise each time Lender acquires
knowledge of any matter indemnified by Indemnitor under this Agreement. Separate and successive actions may be brought hereunder
to enforce any of the provisions hereof at any time and from time to time. No action hereunder shall preclude any subsequent action,
and Indemnitor hereby waives and covenants not to assert any defense in the nature of splitting of causes of action or merger of
judgments.

17.           
Construction. In this Agreement,
the word “person” includes any individual, company, trust or other legal entity of any kind. If this Agreement is executed
by more than one person, the words “Indemnitor”, “Guarantor” and “Borrower” include all such
persons. The word “include(s)” means “include(s), without limitation,” and the word “including”
means “including, but not limited to.” When the context and construction so require, all words used in the singular
shall be deemed to have been used in the plural and vice versa.

18.           
Severability. Every provision
of this Agreement is intended to be severable. If any term, provision, section or subsection of this Agreement is declared to be
illegal or invalid, for any reason whatsoever, by a court of competent jurisdiction, such illegality or invalidity shall not affect
the other terms, provisions, sections or subsections of this Agreement, which shall remain binding and enforceable. To the extent
there is any conflict between this Agreement and the terms and provisions of any of the other Loan Documents, the terms and provisions
of this Agreement shall control.

19.           
Cost and Expenses. On demand,
Indemnitor agrees to pay all of the Indemnified Parties’ costs and expenses, including attorneys’ fees, which may be
incurred in any effort to enforce any term of this Agreement, including all such costs and expenses which may be incurred by any
Indemnified Party in any legal action, reference, mediation or arbitration proceeding. From the time(s) incurred until paid in
full to the Indemnified Party, those sums shall bear interest at the Applicable Rate.

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20.           
Time; No Course of Dealing.
Time is of the essence of this Agreement, and of each and every provision hereof. The waiver by Indemnified Party of any breach
or breaches hereof shall not be deemed, nor shall the same constitute, a waiver of any subsequent breach of breaches.

21.           
Governing Law. This Agreement
and the transaction contemplated hereunder shall be governed by and construed in accordance with the laws of the State of Illinois,
without giving effect to conflict of laws principles.

22.           
Counterparts. This Agreement
may be executed in any number of counterparts each of which shall be deemed an original, but all such counterparts together shall
constitute but one Agreement.

23.           
Captions for Convenience.
The captions and headings of the paragraphs of this Agreement are for convenience of reference only and shall not be construed
in interpreting the provisions hereof.

24.           
Joint and Several Liability.
Each party executing this Agreement as an Indemnitor shall be jointly and severally liable for all obligations of Indemnitor hereunder.

25.        Subrogation.
Notwithstanding any payments made by any of the undersigned pursuant
to the provisions of this Agreement, Guarantor irrevocably waives all rights to enforce or collect upon any rights which it now
has or may acquire against Borrower either by way of subrogation, indemnity, reimbursement or contribution for any amount paid
under this Agreement or by way of any other obligations whatsoever of Borrower to Guarantor, nor shall Guarantor file, assert
or receive payment on any claim, whether now existing or hereafter arising, against Borrower in the event of the commencement
of a case by or against Borrower under Title 11 of the United States Code. In the event either a petition is filed under said
Title 11 of the United States Code with regard to Borrower or an action or proceeding is commenced for the benefit of the creditors
of Borrower, this Agreement shall at all times thereafter remain effective in regard to any payments or other transfers of assets
to Lender received from or on behalf of Borrower prior to notice of termination of this Agreement and which are or may be held
voidable on the grounds of preference or fraud, whether or not the Loan has been paid in full. Any payment on account of or reacknowledgment
of the Loan by Borrower, or any other party liable therefor, or action taken, or payment or reacknowledgment made, of any of the
obligations of Borrower to take and complete the actions specified in paragraph 3 of the Agreement shall serve to start anew the
statutory period of limitations applicable to Borrower with respect to said paragraph 3 and Guarantor.

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26.           
WAIVER OF JURY TRIAL. INDEMNITOR
AND LENDER (BY ITS ACCEPTANCE HEREOF) HEREBY VOLUNTARILY, KNOWINGLY, IRREVOCABLY AND UNCONDITIONALLY WAIVE ANY RIGHT TO HAVE A
JURY PARTICIPATE IN RESOLVING ANY DISPUTE (WHETHER BASED ON CONTRACT, TORT, OR OTHERWISE) BETWEEN INDEMNITOR AND LENDER ARISING
OUT OF OR IN ANY WAY RELATED TO THIS AGREEMENT. THIS PROVISION IS A MATERIAL INDUCEMENT TO LENDER TO PROVIDE THE FINANCING DESCRIBED
IN THIS AGREEMENT.

 

[Remainder
of page intentionally left blank; signatures follow.]

 

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IN WITNESS WHEREOF,
Indemnitor has executed this Environmental Indemnity Agreement as of the date set forth herein.

	 	BORROWER
	 	 	 
	 	
        IREIT LITTLE ROCK MIDTOWNE,
        L.L.C., a

        Delaware limited liability
        company

	 	 	 
	 	By:	
        Inland Real Estate Income
        Trust, Inc., a

        Maryland corporation, its
        sole member

	 	 	 	 
	 	 	By:	/s/ David Z. Lichterman
	 	 	Name:	David Z. Lichterman
	 	 	Title:	Vice President, Treasurer & CAO
	 	 	 	 
	 	GUARANTOR
	 	 	 	 
	 	
        INLAND REAL ESTATE INCOME
        TRUST, INC., a

        Maryland corporation

	 	 	 	 
	 	By:	/s/ David Z. Lichterman
	 	Name:	David Z. Lichterman
	 	Title:	Vice President, Treasurer & CAO

 

14EX-10.1

 Exhibit 10.1 

Second Amendment To Lease — Foundation Medicine/150 Second St., Cambridge, MA Page 1 

SECOND AMENDMENT TO LEASE 

This Second Amendment to Lease (“Second Amendment”) is made as of June 30, 2014 (“Second Amendment
Effective Date”), by and between ARE-MA REGION NO. 50, LLC, a Delaware limited liability company (“Landlord”), and FOUNDATION MEDICINE, INC., a Delaware corporation (“Tenant”). 

RECITALS 

A. Landlord’s predecessor in interest, 150 Second Street, LLC, and Tenant entered into that certain Lease Agreement dated as of
March 27, 2013, as amended by a First Amendment to Lease dated as of November 21, 2013 (the “Lease”), pursuant to which Tenant leases certain premises (the “Original Premises”) located at 150 Second
Street, Cambridge, Massachusetts more particularly described in the Lease. 
 B. Tenant desires to expand the Original
Premises demised under the Lease by adding approximately 8,164 rentable square feet (the “Expansion Space”) on the first floor of the Building, for a total rentable square footage of the Premises from and after the Expansion
Commencement Date of 69,755 rentable square feet (and to increase the Storage Space located in the basement of the Building from 2,325 square feet to 2,633 square feet), and Landlord is willing to lease the same to Tenant on the terms herein set
forth. 
 C. Landlord and Tenant desire to amend the Lease to add the Expansion Space to the Premises demised under the
Lease, to provide for the improvement of such space, and to address other matters more particularly set forth below. 
 D.
Capitalized terms used and not otherwise defined herein shall have the meanings ascribed to them in the Lease. 
 AGREEMENT

 Now, therefore, the parties hereto agree that the Lease is amended as follows: 

1. Expansion Space; Tenant’s Share. From and after the Expansion Commencement Date (as hereinafter defined):
(a) the Premises demised under the Lease shall equal 69,755 rentable square feet, representing an expansion to include the Expansion Space, consisting for all purposes of the Lease of 8,164 rentable square feet on the first floor of the
Building, together with the additional Tenant’s Share of mechanical and lab-related storage located in the penthouse, first floor and lower level of the Building; and (b) Tenant’s Share for all purposes of the Lease, including
Operating Expenses and such additional shared spaces, is 56.61%. The locations of the Original Premises and the Expansion Premises, including the lower level, the first floor shared space and the penthouse screened space, allocated to Tenant are
shown on Exhibit A. The attached Exhibit A supplements, but does not replace, Exhibit A to the original Lease Agreement. The rentable square feet of the Building allocated to Tenant in various locations within the Building (excluding
the Storage Space as described in Section 6 below) is as follows: 

 Second Amendment To Lease — Foundation Medicine/150 Second St., Cambridge, MA Page 2

  

																	
	 Location
	  	Total
Building
Space	 	  	Tenant
Existing
Space	 	  	Tenant
Expansion
Space	 	  	Total
Tenant
Space	 
	 First Floor Space
	  	 	34,288	  	  	 	17,132	  	  	 	7,767	  	  	 	24,899	  
	 Second Floor Space
	  	 	41,510	  	  	 	41,510	  	  	 	0	  	  	 	41,510	  
	 Level B Shared Space
	  	 	2,117	  	  	 	1,058	  	  	 	142	  	  	 	1,200	  
	 First Floor Shared Space
	  	 	1,688	  	  	 	843	  	  	 	114	  	  	 	957	  
	 Penthouse Screen Area
	  	 	2,099	  	  	 	1,048	  	  	 	141	  	  	 	1,189	  
	 Third Floor Space (not part of Premises)
	  	 	41,508	  	  				  				  			
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 Total
	  	 	123,210	  	  	 	61,591	  	  	 	8,164	  	  	 	69,755	  
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 	  	  
	  
	 

 2. Delivery of Expansion Space. Tenant shall accept the Expansion Space in its condition
as of the date hereof, subject to the terms of Exhibit B-Work Letter (“Work Letter”) and all applicable Legal Requirements. Tenant’s taking possession of the Expansion Space shall be conclusive evidence that Tenant
accepts the Expansion Space and that the Expansion Space was in good condition at the time possession was taken, subject to the provisions of the Work Letter. Tenant agrees and acknowledges that neither Landlord nor any agent of Landlord has made
any representation or warranty with respect to the condition of all or any portion of the Expansion Space, and/or the suitability of the Expansion Space for the conduct of Tenant’s business. Tenant shall have a right of access to the Expansion
Space on the date hereof (“Expansion Commencement Date”), subject to Landlord’s right of access to the Expansion Space for the purpose of installation of the Demising Wall (as defined in the Work Letter), which occupancy shall
be subject to all of the terms and conditions of the Lease, as amended hereby, except that Rent as to the Expansion Space shall not commence until the Expansion Rent Commencement Date.  

3. Expansion Commencement Date; Expansion Term; Rent Commencement Date. The Term of the Lease with respect to the
Expansion Space shall commence on the Expansion Commencement Date. The date for commencement of Base Rent and Additional Rent with respect to the Expansion Space (the “Expansion Rent Commencement Date”) shall be November 1,
2014 (provided that if Tenant or a subtenant occupies any portion of the Expansion Space for the Permitted Uses prior to the Expansion Rent Commencement Date, Tenant shall pay as Additional Rent Tenant’s Share of Operating Expenses for such
occupied space on a pro rata square footage basis). Tenant shall not be deemed to have occupied the Expansion Space until the Tenant Improvements are Substantially Complete (as defined in the Work Letter) and Tenant has received a certificate of
occupancy for the Expansion Space (provided that, as aforesaid, the Expansion Rent Commencement Date shall occur, in any event, on November 1, 2014). The initial Term of the Lease as to the entirety of the Premises, 

 Second Amendment To Lease — Foundation Medicine/150 Second St., Cambridge, MA Page 3

 including the Expansion Space, shall expire on February 28, 2021. The Extension Right set forth in Article 28 of the
Lease shall be exercisable in accordance with Article 28 only as to the entirety of the Premises, including the Expansion Space. 

4. Rent for Expansion Space. From and after the Expansion Rent Commencement Date, Base Rent and Additional Rent shall be
payable with respect to the Expansion Space in accordance with the terms of the Lease. Accordingly, the Base Rent for the Premises (including the Original Premises and the Expansion Space) shall be paid in accordance with the following tables (which
tables replaces the table set forth in Section 1.1 of the Lease): 
 BASE RENT FOR ORIGINAL PREMISES 

 

													
	 Period
	  	Rate per RSF
(Original
Premises-
61,591 RSF)	 	  	Annual Base Rent	 	  	Monthly Base
Rent	 
	 9/1/2013 to 8/31/2014
	  	$	56.00	  	  	$	3,449,096.00	  	  	$	287,424.67	  
	 9/1/2014 to 8/31/2015
	  	$	57.68	  	  	$	3,552,568.88	  	  	$	296,047.41	  
	 9/1/2015 to 8/31/2016
	  	$	59.41	  	  	$	3,659,121.31	  	  	$	304,926.78	  
	 9/1/2016 to 8/31/2017
	  	$	61.19	  	  	$	3,768,753.29	  	  	$	314,062.77	  
	 9/1/2017 to 8/31/2018
	  	$	63.03	  	  	$	3,882,080.73	  	  	$	323,506.73	  
	 9/1/2018 to 8/31/2019
	  	$	64.92	  	  	$	3,998,487.72	  	  	$	333,207.31	  
	 9/1/2019 to 8/31/2020
	  	$	66.86	  	  	$	4,117,974.26	  	  	$	343,164.52	  
	 9/1/2020 to 2/28/2021
	  	$	68.87	  	  	 	4,241,772.17	  	  	$	353,481.01	  

  

	*	Notwithstanding anything in this Section of the Lease to the contrary, Tenant shall be entitled to (i) an abatement of Base Rent with respect to the Original Premises in the amount of $3,000,000 commencing on the
Lease Commencement Date, subject to the terms and conditions set forth in Section 4.2; and (ii) an abatement of Base Rent pertaining to 5,000 RSF of the Original Premises applied on a monthly basis for the 12 month period following
the Rent Commencement Date. 

 Second Amendment To Lease — Foundation Medicine/150 Second St., Cambridge, MA Page 4

 BASE RENT FOR EXPANSION SPACE: 
  

													
	 Period
	  	Rate per RSF
Expansion
(8,164 RSF)	 	  	Annual Base Rent	 	  	Monthly Base Rent	 
	 5/1/2014 to 10/31/2014
	  	 	-0-  	  	  	 	-0-  	  	  	 	-0-    	  
	 11/1/2014 to 4/30/2015
	  	 	$59.00	  	  	 	$481,676.00	  	  	 	$40,139.67	  
	 5/1/2015 to 4/30/2016
	  	 	$60.77	  	  	 	$496,126.28	  	  	 	$41,343.86	  
	 5/1/2016 to 4/30/2017
	  	 	$62.59	  	  	 	$510,984.76	  	  	 	$42,582.06	  
	 5/1/2017 to 4/30/2018
	  	 	$64.47	  	  	 	$526,333.08	  	  	 	$43,861.09	  
	 5/1/2018 to 4/30/2019
	  	 	$66.40	  	  	 	$542,089.60	  	  	 	$45,174.13	  
	 5/1/2019 to 4/30/2020
	  	 	$68.39	  	  	 	$558,335.96	  	  	 	$46,528.00	  
	 5/1/2020-2/28/21
	  	 	$70.44	  	  	 	$575,072.16	  	  	 	$47,922.68	  

 5. Parking. Tenant shall have as appurtenant to the Expansion Space and in addition to the
parking spaces appurtenant to the Original Premises 5 parking spaces in the Building garage, and 3 surface parking spaces located in the lot on the north side of Charles Street (subject to relocation as provided in the Lease), in each case available
to Tenant in accordance with the terms and conditions of Section 7.1 of the Lease. Tenant hereby confirms that, from and after the Expansion Space Commencement Date, Tenant’s commitment for parking for the year ending
August 31, 2014 shall be a total of 45 parking spaces in the Building garage, and 24 surface parking spaces. 
 6. Storage
Space. As a result of the addition of the Expansion Space to the Original Premises, Tenant Share of the Storage Space shall increase to 56.61% of the Storage Space, comprised of 2,633 rentable square feet of space located within the Building
as set forth on Exhibit A, and Tenant shall have the right to lease Tenant’s Share of the Storage Space under and in accordance with the terms and conditions of Section 2.2 of the Lease. 

7. Miscellaneous. 

a. This Second Amendment is the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and
contemporaneous oral and written agreements and discussions. This Second Amendment may be amended only by an agreement in writing, signed by the parties hereto. 

 Second Amendment To Lease — Foundation Medicine/150 Second St., Cambridge, MA Page 5

 b. This Second Amendment is binding upon and shall inure to the benefit of the parties hereto and their respective permitted
successors in interest. 
 c. This Second Amendment may be executed in any number of counterparts, each of which shall be deemed an
original, but all of which when taken together shall constitute one and the same instrument. The signature page of any counterpart may be detached therefrom without impairing the legal effect of the signature(s) thereon provided such signature page
is attached to any other counterpart identical thereto except having additional signature pages executed by other parties to this Second Amendment attached thereto. 

d. Landlord and Tenant each represents and warrants that it has not dealt with any broker, agent or other person (collectively
“Broker”) in connection with this transaction other than Jones Lang LaSalle and Transwestern/RBJ, and that no Broker, other than Jones Lang LaSalle and Transwestern/RBJ, who shall be paid by Landlord pursuant to a separate
Agreement, brought about this transaction. Landlord and Tenant each hereby agree to indemnify and hold the other harmless from and against any claims by any Broker (other than Jones Lang LaSalle and Transwestern/RBJ) claiming a commission or other
form of compensation by virtue of having dealt with Tenant or Landlord, as applicable, with regard to this leasing transaction. 
 e. As
amended and/or modified by this Second Amendment, the Lease is hereby ratified and confirmed and all other terms of the Lease shall remain in full force and effect, unaltered and unchanged by this Second Amendment, and the terms of the Lease, unless
expressly modified by the terms of this Second Amendment, shall apply to the Expansion Space as if the Expansion Space were originally included as part of the Original Premises as of the Second Amendment Effective Date. In the event of any conflict
between the provisions of this Second Amendment and the provisions of the Lease, the provisions of this Second Amendment shall prevail. Whether or not specifically amended by this Second Amendment, all of the terms and provisions of the Lease are
hereby amended to the extent necessary to give effect to the purpose and intent of this Second Amendment. 
 (Signatures on Next Page)

 Second Amendment To Lease — Foundation Medicine/150 Second St., Cambridge, MA Page 6

 IN WITNESS WHEREOF, the parties hereto have executed this Second Amendment intending it to be effective as of the Second Amendment
Effective Date. 
  

	
	TENANT:
	
	 FOUNDATION MEDICINE, INC.,
 a Delaware
corporation

	
	 By: /s/ Steven J. Kafka
 Name: Steven J.
Kafka, PhD
 Its: Chief Operating Officer

	
	LANDLORD:
	
	 ARE-MA REGION NO. 50, LLC,
 a Delaware
limited liability company

 
							
	By:	 	ALEXANDRIA REAL ESTATE EQUITIES, L.P., a Delaware limited partnership, member
		 	By:	  	 ARE-QRS CORP.,
 a Maryland
corporation,
 general partner

				
		 		  	By: 	 	 /s/ Eric S. Johnson

							
		 		  	Name: 	 	 Eric S. Johnson

							
		 		  	Its: 	 	 Vice President, Real Estate Legal Affairs

 Second Amendment To Lease — Foundation Medicine/150 Second St., Cambridge, MA Page 7

 EXHIBIT A 

Plan of Expansion Space 

See attached 

  
 

 

  
 

 

  
 

 

  
 

 

  
 

 

 Second Amendment To Lease — Foundation Medicine/150 Second St., Cambridge, MA Page 8

 EXHIBIT B TO SECOND AMENDMENT TO LEASE 

[Tenant Build] 

WORK LETTER 
 THIS
WORK LETTER (this “Work Letter”) is incorporated into that certain Second Amendment to Lease (the “Lease”) dated as of June     , 2014 by and between ARE-MA REGION NO. 50, LLC, a Delaware limited
liability company (“Landlord”), and Foundation Medicine, Inc., a Delaware corporation (“Tenant”). Any initially capitalized terms used but not defined herein shall have the meanings given them in the Lease. 

1. General Requirements. 

a. Tenant’s Authorized Representative. Tenant designates Steven Kafka and Chris Maciejczak (either such individual acting
alone, “Tenant’s Representative”) as the only person authorized to act for Tenant pursuant to this Work Letter. Landlord shall not be obligated to respond to or act upon any request, approval, inquiry or other communication
(“Communication”) from or on behalf of Tenant in connection with this Work Letter unless such Communication is in writing from Tenant’s Representative. Tenant may change either of Tenant’s Representatives at any time upon not
less than 5 business days advance written notice to Landlord. 
 b. Landlord’s Authorized Representative. Landlord
designates Jeff McComish, Joe Maguire, and William DePippo (any such individual acting alone, “Landlord’s Representative”) as the only persons authorized to act for Landlord pursuant to this Work Letter. Tenant shall not be obligated
to respond to or act upon any request, approval, inquiry or other Communication from or on behalf of Landlord in connection with this Work Letter unless such Communication is in writing from Landlord’s Representative. Landlord may change any of
Landlord’s Representatives at any time upon not less than 5 business days advance written notice to Tenant. 
 c.
Architects, Consultants and Contractors. Landlord and Tenant hereby acknowledge and agree that the architect (the “TI Architect”) for the Tenant Improvements (as defined in Section 2(a) below), the MEP engineer, the general
contractor and any subcontractors for the Tenant Improvements shall be selected by Tenant, subject to Landlord’s approval, which approval shall not be unreasonably withheld, conditioned or delayed. Tenant agrees that it will provide Landlord
with copies of MEP documents for the Tenant Improvements and Landlord and Tenant agree to follow the review and approval procedures applicable to TI Design Drawings (as defined and described in Section 2(b) below). Landlord shall be named a
third party beneficiary of any contract entered into by Tenant with the TI Architect, any consultant, any contractor or any subcontractor, and of any warranty made by any contractor or any subcontractor. 

2. Tenant Improvements. 
 a.
Tenant Improvements Defined. As used herein, “Tenant Improvements” shall mean all improvements to the Expansion Space desired by Tenant of a fixed and permanent nature. Other than funding the TI Allowance (as defined below) as
provided herein, and the installation of a demising wall (which Landlord shall install at Landlord’s expense in coordination with Tenant’s installation of the Tenant Improvements), Landlord shall not have any obligation whatsoever with
respect to the finishing of the Premises for Tenant’s use and occupancy.  

 Second Amendment To Lease — Foundation Medicine/150 Second St., Cambridge, MA Page 9

 Landlord hereby agrees to install, at Landlord’s sole expense, three (3) walls demising the Expansion Space from the adjacent first
floor premises as identified on Exhibit A to the Second Amendment to Lease and constructed in accordance with the specification attached hereto as Exhibit B-1 (“Demising Walls”) on a schedule which will coordinate with
Tenant’s improvements in the Expansion Space and with the construction of improvements in the adjacent tenant space.  

b. Tenant’s Space Plans. Tenant shall deliver to Landlord schematic drawings and outline specifications (the “TI
Design Drawings”) detailing Tenant’s requirements for the Tenant Improvements prior to June 1, 2015. Not more than 10 business days thereafter, Landlord shall deliver to Tenant the written objections, questions or comments of Landlord
and the TI Architect with regard to the TI Design Drawings. Tenant shall cause the TI Design Drawings to be revised to address such written comments and shall resubmit said drawings to Landlord for approval within 10 business days thereafter. Such
process shall continue until Landlord has approved the TI Design Drawings. 
 c. Working Drawings. Not later than 20
business days following the approval of the TI Design Drawings by Landlord, Tenant shall cause the TI Architect to prepare and deliver to Landlord for review and comment construction plans, specifications and drawings for the Tenant Improvements
(“TI Construction Drawings”), which TI Construction Drawings shall be prepared substantially in accordance with the TI Design Drawings. Tenant shall be solely responsible for ensuring that the TI Construction Drawings reflect Tenant’s
requirements for the Tenant Improvements. Landlord shall deliver its written comments on the TI Construction Drawings to Tenant not later than 10 business days after Landlord’s receipt of the same; provided, however, that Landlord may not
disapprove any matter that is consistent with the TI Design Drawings. Tenant and the TI Architect shall consider all such comments in good faith and shall, within 10 business days after receipt, notify Landlord how Tenant proposes to respond to such
comments. Any disputes in connection with such comments shall be resolved in accordance with Section 2(d) hereof. Provided that the design reflected in the TI Construction Drawings is consistent with the TI Design Drawings, Landlord shall
approve the TI Construction Drawings submitted by Tenant. Once approved by Landlord, subject to the provisions of Section 4 below, Tenant shall not materially modify the TI Construction Drawings except as may be reasonably required in
connection with the issuance of the TI Permit (as defined in Section 3(a) below). 
 d. Approval and Completion.
If any dispute regarding the design of the Tenant Improvements is not settled within 10 business days after notice of such dispute is delivered by one party to the other, Tenant may make the final decision regarding the design of the Tenant
Improvements, provided (i) Tenant acts reasonably and such final decision is either consistent with or a compromise between Landlord’s and Tenant’s positions with respect to such dispute, (ii) that all costs and expenses
resulting from any such decision by Tenant shall be payable out of the TI Fund (as defined in Section 5(d) below), and (iii) Tenant’s decision will not affect the base Building, structural components of the Building or any Building
systems (in which case Landlord shall make the final decision). Any changes to the TI Construction Drawings following Landlord’s and Tenant’s approval of same requested by Tenant shall be processed as provided in Section 4 hereof.

 3. Performance of the Tenant Improvements. 

a. Commencement and Permitting of the Tenant Improvements. Tenant shall commence construction of the Tenant Improvements upon
obtaining and delivering to Landlord 

 Second Amendment To Lease — Foundation Medicine/150 Second St., Cambridge, MA Page 10

 a building permit (the “TI Permit”) authorizing the construction of the Tenant Improvements consistent with the TI Construction
Drawings approved by Landlord. The cost of obtaining the TI Permit shall be payable from the TI Fund. Landlord shall assist Tenant in obtaining the TI Permit. Prior to the commencement of the Tenant Improvements, Tenant shall deliver to Landlord a
copy of any contract with Tenant’s contractors (including the TI Architect), and certificates of insurance from any contractor performing any part of the Tenant Improvement evidencing industry standard commercial general liability, automotive
liability, “builder’s risk”, and workers’ compensation insurance. Tenant shall cause the general contractor to provide a certificate of insurance naming Landlord, Alexandria Real Estate Equities, Inc., and Landlord’s lender
(if any) as additional insureds for the general contractor’s liability coverages required above.  
 b. Selection of
Materials, Etc. Where more than one type of material or structure is indicated on the TI Construction Drawings approved by Tenant and Landlord, the option will be within Tenant’s reasonable discretion if the matter concerns the Tenant
Improvements, and within Landlord’s sole and absolute subjective discretion if the matter concerns the structural components of the Building or any Building system. 

c. Tenant Liability. Tenant shall be responsible for correcting any deficiencies or defects in the Tenant Improvements. Landlord
shall be responsible for correcting any non-compliance of the Demising Walls with the specifications referenced in Exhibit B-1, and for correcting any other defect in the Demising Walls, as to which Tenant delivers notice to Landlord within 180 days
after Expansion Rent Commencement Date.  
 d. Substantial Completion. Tenant shall substantially complete or cause to
be substantially completed the Tenant Improvements in a good and workmanlike manner, in accordance with the TI Permit subject, in each case, to Minor Variations and normal “punch list” items of a non-material nature which do not interfere
with the use of the Premises (“Substantial Completion” or “Substantially Complete”). Upon Substantial Completion of the Tenant Improvements, Tenant shall require the TI Architect and the general contractor to execute and deliver,
for the benefit of Tenant and Landlord, a Certificate of Substantial Completion in the form of the American Institute of Architects (“AIA”) document G704. For purposes of this Work Letter, “Minor Variations” shall mean any
modifications reasonably required: (i) to comply with all applicable Legal Requirements and/or to obtain or to comply with any required permit (including the TI Permit); (ii) to comport with good design, engineering, and construction
practices which are not material; or (iii) to make reasonable adjustments for field deviations or conditions encountered during the construction of the Tenant Improvements. 

4. Changes. Any changes requested by Tenant to the Tenant Improvements after the delivery and approval by Landlord of the TI Design Drawings,
shall be requested and instituted in accordance with the provisions of this Section 4 and shall be subject to the written approval of Landlord, which approval shall not be unreasonably withheld, conditioned or delayed. 

a. Tenant’s Right to Request Changes. If Tenant shall request changes (“Changes”), Tenant shall request such
Changes by notifying Landlord in writing in substantially the same form as the AIA standard change order form (a “Change Request”), which Change Request shall detail the nature and extent of any such Change. Such Change Request must be
signed by Tenant’s Representative. Landlord shall review and approve or disapprove such Change Request within 10 business days thereafter, provided that Landlord’s approval shall not be unreasonably withheld, conditioned or delayed.

 Second Amendment To Lease — Foundation Medicine/150 Second St., Cambridge, MA Page 11

 b. Implementation of Changes. If Landlord approves such Change and Tenant deposits with Landlord any Excess TI Costs
(as defined in Section 5(d) below) required in connection with such Change, Tenant may cause the approved Change to be instituted. If any TI Permit modification or change is required as a result of such Change, Tenant shall promptly provide
Landlord with a copy of such TI Permit modification or change. 
 5. Costs. 

a. Budget For Tenant Improvements. Before the commencement of construction of the Tenant Improvements, Tenant shall obtain a
detailed breakdown, by trade, of the costs incurred or that will be incurred, in connection with the design and construction of the Tenant Improvements (the “Budget”), and deliver a copy of the Budget to Landlord for Landlord’s
approval, which shall not be unreasonably withheld or delayed. The Budget shall be based upon the TI Construction Drawings approved by Landlord and shall include all of Landlord’s reasonable and ordinary out-of-pocket third party costs,
expenses and fees incurred by or on behalf of Landlord directly arising from, out of, or in connection with, Landlord’s monitoring of the construction of the Tenant Improvements, and shall be payable out of the TI Fund. If the Budget is greater
than the TI Allowance, within 10 days after Landlord’s written request, Tenant shall deposit with Landlord in cash an amount designated by Landlord, but not to exceed 25% of the difference, within 10 days of such request, for disbursement by
Landlord as described in Section 5(d). 
 b. TI Allowance. Landlord shall provide to Tenant a tenant improvement
allowance (“TI Allowance”) of $125.00 per rentable square foot of the Expansion Space, or $1,020,500.00 in the aggregate. Within 10 business days after receipt of notice of Landlord’s approval of the Budget, Tenant shall notify
Landlord how much of the TI Allowance Tenant has elected to receive from Landlord. Such election shall be final and binding on Tenant, and may not thereafter be modified without Landlord’s consent, which may be granted or withheld in
Landlord’s sole and absolute subjective discretion. The TI Allowance shall be disbursed in accordance with this Work Letter. Tenant shall have no right to the use or benefit (including any reduction to Base Rent) of any portion of the TI
Allowance not required for the construction of (i) the Tenant Improvements described in the TI Construction Drawings approved pursuant to Section 2(d) or (ii) any Changes pursuant to Section 4. Tenant shall have no right to any
portion of the TI Allowance that is not disbursed prior to June 1, 2019.  
 c. Costs Includable in TI Fund. The
TI Fund shall be used solely for the payment of architectural, engineering and interior design, permits, construction, and other design and construction costs in connection with the construction of the Tenant Improvements, including, without
limitation, the cost of electrical power and other utilities used in connection with the construction of the Tenant Improvements, the cost of preparing the TI Design Drawings and the TI Construction Drawings, all costs set forth in the Budget,
including Landlord’s Administrative Rent, and the cost of Changes (collectively, “TI Costs”). Notwithstanding the foregoing, Tenant shall have the right to apply up to $10.00 per rentable square foot of the Expansion Space TI
Allowance toward soft costs, including, but not limited to, furniture, fixtures and equipment, telephone/data wiring, and security access in connection with the Expansion Space, it being expressly acknowledged that soft costs, for the purposes of
this $10.00 allocation, do not include architectural, engineering and interior design fees, which may be paid in the ordinary course as part of TI costs. 

d. Excess TI Costs. Landlord shall have no obligation to bear any portion of the cost of any of the Tenant Improvements except
to the extent of the TI Allowance. If at any time 

 Second Amendment To Lease — Foundation Medicine/150 Second St., Cambridge, MA Page 12

 and from time-to-time, the remaining TI Costs under the Budget exceed the remaining unexpended TI Allowance, upon Landlord’s request,
Tenant shall deposit with Landlord, within 10 business days of such request, as a condition precedent to Landlord’s obligation to make further advances of the TI Allowance, an amount designated by Landlord up to 25% of the then current TI Cost
in excess of the remaining TI Allowance (“Excess TI Costs”). If Tenant fails to deposit, or is late in depositing any Excess TI Costs with Landlord, Landlord shall have all of the rights and remedies set forth in the Lease for nonpayment
of Rent (including, but not limited to, the right to interest at the Default Rate and the right to assess a late charge). For purposes of any litigation instituted with regard to such amounts, those amounts will be deemed Rent under the Lease. The
TI Allowance and Excess TI Costs is herein referred to as the “TI Fund.” Funds deposited by Tenant shall be the first thereafter disbursed to pay TI Costs. Notwithstanding anything to the contrary set forth in this Section 5(d),
Tenant shall be fully and solely liable for TI Costs and the cost of Minor Variations in excess of the TI Allowance. If upon Substantial Completion of the Tenant Improvements and the payment of all sums due in connection therewith there remains any
undisbursed portion of the TI Fund, Tenant shall be entitled to such undisbursed TI Fund solely to the extent of any Excess TI Costs deposit Tenant has actually made with Landlord. 

e. Payment for TI Costs. During the course of design and construction of the Tenant Improvements, Landlord shall pay TI Costs
once a month against a draw request in Landlord’s standard form, containing such certifications, lien waivers (including a conditional lien release for each progress payment and unconditional lien releases for the prior month’s progress
payments), inspection reports and other matters as landlords of office and laboratory space in East Cambridge, Massachusetts customarily obtain, to the extent of Landlord’s approval thereof for payment, no later than 30 days following receipt
of such draw request. Upon completion of the Tenant Improvements (and prior to any final disbursement of the TI Fund), Tenant shall deliver to Landlord: (i) sworn statements setting forth the names of all contractors and first tier
subcontractors who did the work and final, unconditional lien waivers from all such contractors and first tier subcontractors; (ii) as-built plans (one copy in print format and two copies in electronic CAD format) for such Tenant Improvements;
(iii) a certification of substantial completion in Form AIA G704, (iv) a certificate of occupancy for the Expansion Space; and (v) copies of all operation and maintenance manuals and warranties affecting the Premises. 

6. Miscellaneous. 
 a.
Consents. Whenever consent or approval of either party is required under this Work Letter, that party shall not unreasonably withhold, condition or delay such consent or approval, except as may be expressly set forth herein to the
contrary. 
 b. Modification. No modification, waiver or amendment of this Work Letter or of any of its conditions or
provisions shall be binding upon Landlord or Tenant unless in writing signed by Landlord and Tenant. 
 c.
Counterparts. This Work Letter may be executed in any number of counterparts but all counterparts taken together shall constitute a single document. 

d. Governing Law. This Work Letter shall be governed by, construed and enforced in accordance with the internal laws of the
state in which the Premises are located, without regard to choice of law principles of such State. 

 Second Amendment To Lease — Foundation Medicine/150 Second St., Cambridge, MA Page 13

 e. Time of the Essence. Time is of the essence of this Work Letter and of each and all provisions thereof. 

f. Default. Notwithstanding anything set forth herein or in the Lease to the contrary, Landlord shall not have any obligation to
perform any work hereunder or to fund any portion of the TI Fund during any period Tenant is in Default under the Lease. 
 g.
Severability. If any term or provision of this Work Letter is declared invalid or unenforceable, the remainder of this Work Letter shall not be affected by such determination and shall continue to be valid and enforceable. 

h. Merger. All understandings and agreements, oral or written, heretofore made between the parties hereto and relating to
Tenant’s Work are merged in this Work Letter, which alone (but inclusive of provisions of the Lease incorporated herein and the final approved constructions drawings and specifications prepared pursuant hereto) fully and completely expresses
the agreement between Landlord and Tenant with regard to the matters set forth in this Work Letter. 
 i. Entire
Agreement. This Work Letter is made as a part of and pursuant to the Lease and, together with the Lease, constitutes the entire agreement of the parties with respect to the subject matter hereof. This Work Letter is subject to all of the terms
and limitation set forth in the Lease, and neither party shall have any rights or remedies under this Work Letter separate and apart from their respective remedies pursuant to the Lease. 

[ Signatures on next page ] 

 Second Amendment To Lease — Foundation Medicine/150 Second St., Cambridge, MA Page 14

 IN WITNESS WHEREOF, Landlord and Tenant have executed this Work Letter to be effective on the date first above written. 

 

			
	TENANT:
	
	 FOUNDATION MEDICINE, INC.,
 a
Delaware corporation

		
	By: 	 	 /s/ Steven J. Kafka

			
	Name: 	 	 Steven J. Kafka

			
	Its: 	 	 Chief Operating Officer

  

							
	LANDLORD:
	
	 ARE-MA REGION NO. 50, LLC,
 a
Delaware limited liability company

 
							
	By:	 	 ALEXANDRIA REAL ESTATE EQUITIES,

L.P., a Delaware limited partnership, member

 
							
		 	By:	  	 ARE-QRS CORP.,
 a Maryland
corporation,
 general partner

 
							
				
		 		  	By: 	 	 /s/ Eric S. Johnson

							
		 		  	Name: 	 	 Eric S. Johnson

							
		 		  	Its: 	 	 Vice President, Real Estate Legal Affairs

 Second Amendment To Lease — Foundation Medicine/150 Second St., Cambridge, MA Page 15

 EXHIBIT B-1 

Specification for Demising Wall 
 The
Expansion Space shall be demised, as set forth of the Plan of Expansion Space attached as Exhibit A to the Second Amendment to Lease, with three full height, one (1) hour fire-rated partitions comprised of, 3-5/8” metal studs and
one layer of 5/8” GWB each side. Partitions shall be sufficiently prepared for finish.

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