Document:

EX-4.4

 Exhibit 4.4 
 Chico’s FAS, Inc. 
 2012 Omnibus Stock and Incentive Plan

 (Effective June 21, 2012) 
 As Approved By the Company’s Stockholders on June 21, 2012 

 Chico’s FAS, Inc. 

2012 Omnibus Stock and Incentive Plan 
 Table of Contents 
  

					
	ARTICLE 1	  			
	ESTABLISHMENT; PURPOSE; AWARDS	  			
		
	 1.1 Establishment; Purpose
	  	 	1	  
	 1.2 Types of Awards Under Plan
	  	 	1	  
		
	ARTICLE 2	  			
	DEFINITIONS	  			
		
	 2.1 “Award(s)”
	  	 	1	  
	 2.2 “Award Agreement(s)”
	  	 	1	  
	 2.3 “Board” or “Board of Directors”
	  	 	1	  
	 2.4 “Change in Control”
	  	 	1	  
	 2.5 “Code”
	  	 	2	  
	 2.6 “Committee”
	  	 	2	  
	 2.7 “Common Stock”
	  	 	2	  
	 2.8 “Company”
	  	 	2	  
	 2.9 “Employee”
	  	 	2	  
	 2.10 “Exchange Act”
	  	 	2	  
	 2.11 “Fair Market Value”
	  	 	3	  
	 2.12 “Incentive Stock Option” or “ISO”
	  	 	3	  
	 2.13 “Insider”
	  	 	3	  
	 2.14 “Non-Employee Director”
	  	 	3	  
	 2.15 “Non-Qualified Stock Option” or “NSO”
	  	 	3	  
	 2.16 “Option”
	  	 	3	  
	 2.17 “Option or SAR Period”
	  	 	3	  
	 2.18 “Participant”
	  	 	3	  
	 2.19 “Performance Award”
	  	 	3	  
	 2.20 “Performance Award Agreement”
	  	 	3	  
	 2.21 “Performance-Based Exception”
	  	 	3	  
	 2.22 “Performance Measures”
	  	 	4	  
	 2.23 “Plan”
	  	 	4	  
	 2.24 “Plan Administrator”
	  	 	4	  
	 2.25 “Restricted Stock”
	  	 	4	  
	 2.26 “Restricted Stock Units”
	  	 	4	  
	 2.27 “Restriction Agreement”
	  	 	4	  
	 2.28 “Restriction Period”
	  	 	4	  
	 2.29 “Securities Exchange Act of 1934”
	  	 	4	  
	 2.30 “Stock Appreciation Right “ or “SAR”
	  	 	4	  
	 2.31 “Stock Appreciation Right Agreement”
	  	 	4	  
	 2.32 “Stock Option Agreement”
	  	 	4	  
	 2.33 “Subsidiary”
	  	 	4	  
	 2.34 “Substitute Awards”
	  	 	4	  

					
	ARTICLE 3	  			
	ELIGIBLE PERSONS	  			
		
	 3.1 Eligibility
	  	 	4	  
	 3.2 Selection of Participants
	  	 	5	  
	 3.3 General Effect of Award
	  	 	5	  
		
	ARTICLE 4	  			
	SHARES SUBJECT TO THE PLAN AND MAXIMUM AWARDS	  			
		
	 4.1 Sources of Shares Available for Grants and Limits on Shares Subject to the Plan
	  	 	5	  
	 4.2 Maximum Awards
	  	 	6	  
	 4.3 Adjustments to Limitations
	  	 	7	  
		
	ARTICLE 5	  			
	ADMINISTRATION	  			
		
	 5.1 General
	  	 	7	  
	 5.2 Power and Authority
	  	 	7	  
	 5.3 Other Factors; Determinations Final
	  	 	8	  
	 5.4 Quorum; Actions
	  	 	8	  
	 5.5 Delegation
	  	 	8	  
	 5.6 No Liability; Indemnification
	  	 	8	  
		
	ARTICLE 6	  			
	STOCK OPTIONS AND STOCK APPRECIATION RIGHTS	  			
		
	 6.1 General Method of Grant
	  	 	9	  
	 6.2 Number of Shares
	  	 	9	  
	 6.3 Option or SAR Price
	  	 	9	  
	 6.4 Date of Grant
	  	 	10	  
	 6.5 Method of Payment
	  	 	10	  
	 6.6 Option or SAR Exercise Period
	  	 	11	  
	 6.7 Exercise and Vesting of Options and SARs
	  	 	11	  
	 6.8 Multiple Grants in Single Agreement
	  	 	11	  
	 6.9 Other Provisions
	  	 	11	  
	 6.10 Special Provisions for Incentive Stock Options
	  	 	12	  
		
	ARTICLE 7	  			
	PERFORMANCE AWARDS, RESTRICTED STOCK AND RESTRICTED STOCK UNITS	  			
		
	 7.1 Awards of Performance Awards, Restricted Stock or Restricted Stock Units; Restriction Period
	  	 	12	  
	 7.2 Restricted Stock
	  	 	13	  

					
	 7.3 Restricted Stock Units
	  	 	13	  
	 7.4 Performance Awards
	  	 	14	  
	 7.5 Performance Based Compensation
	  	 	14	  
		
	ARTICLE 8	  			
	MISCELLANEOUS	  			
		
	 8.1 Adjustment of Number of Shares, Etc.
	  	 	15	  
	 8.2 Transferability
	  	 	16	  
	 8.3 Change in Control
	  	 	16	  
	 8.4 Beneficiary Designation
	  	 	16	  
	 8.5 Tax Withholding
	  	 	17	  
	 8.6 Gender and Number
	  	 	17	  
	 8.7 Choice of Law
	  	 	17	  
	 8.8 No Stockholder Rights
	  	 	17	  
	 8.9 Amendments; Exchanges, Termination or Suspension
	  	 	18	  
	 8.10 Listing and Registration of Common Stock
	  	 	19	  
	 8.11 Compliance with Applicable Laws
	  	 	19	  
	 8.12 Stock Certificates; Book Entry
	  	 	19	  
	 8.13 No Implied Rights to Employees
	  	 	19	  
	 8.14 Necessity for Delay
	  	 	20	  
	 8.15 Use of Proceeds
	  	 	20	  
	 8.16 No Obligation to Exercise
	  	 	20	  
	 8.17 Assignment by Company; Third Party Beneficiaries
	  	 	20	  
	 8.18 Effective Date
	  	 	20	  
	 8.19 Term of the Plan
	  	 	20	  
	 8.20 409A Compliance
	  	 	21	  

 Chico’s FAS, Inc. 

2012 Omnibus Stock and Incentive Plan 
 (Effective June 21, 2012) 
 ARTICLE 1 

ESTABLISHMENT; PURPOSE; AWARDS 
 1.1 Establishment; Purpose. Chico’s FAS, Inc. (the “Company”) hereby establishes the Company’s 2012 Omnibus Stock and Incentive Plan, as approved by the Company’s
stockholders on June 21, 2012 (the “Plan”). The purpose of the Plan is to (i) attract and retain Participants as long-term employees or directors; (ii) motivate Participants, by means of appropriate incentives, to achieve
long-range goals; (iii) provide incentive compensation opportunities that are competitive with those of other similar companies; and (iv) further identify Participants’ interests with those of the Company’s other stockholders
through compensation based on the Company’s common stock; and, as a result of the foregoing, promote the long-term financial interest of the Company and its stockholders. 
 1.2 Types of Awards Under Plan. Under the Plan, the Company may grant Incentive Stock Options, Non-Qualified Stock Options, Restricted Stock, Stock Appreciation Rights, Performance Awards, and
Restricted Stock Units. 
 ARTICLE 2 
 DEFINITIONS 
 The following words and terms as used herein shall have that
meaning set forth in this Article 2, unless a different meaning is clearly required by the context. Whenever appropriate, words used in the singular shall be deemed to include the plural and vice versa, and the masculine gender shall be deemed
to include the feminine gender. 
 2.1 “Award(s)” shall mean any award or benefit granted or awarded under the
Plan, including, without limitation, Options, Restricted Stock, Stock Appreciation Rights, Performance Awards, and Restricted Stock Units. 
 2.2 “Award Agreement(s)” shall mean any document, agreement or certificate deemed by the Committee as necessary or advisable to be entered into with or delivered to a Participant in
connection with or as a condition precedent to the valid completion of the grant of an Award under the Plan. Award Agreements include Stock Option Agreements, Stock Appreciation Right Agreements, Performance Award Agreements, and Restriction
Agreements. 
 2.3 “Board” or “Board of Directors” shall mean the Board of Directors of the
Company. 
 2.4 “Change in Control” shall mean: 

 

	 	(a)	a change in control of the Company of a nature that is required, pursuant to the Exchange Act to be reported in response to Item 1.01 of a Current Report on Form
8-K or Item 6(e) of Schedule 14A, in each case, as such requirements are in effect on January 1, 2012; 

  
 1 

	 	(b)	the adoption by the Company of a plan of dissolution or liquidation; 

  

	 	(c)	the closing of a sale of all or substantially all of the assets of the Company; 

 

	 	(d)	the closing of a merger, reorganization or similar transaction (a “Transaction”) involving the Company in which the Company is not the surviving corporation
or, if the Company is the surviving corporation, immediately following the closing of the Transaction, persons who were stockholders of the Company immediately prior to the Transaction own less than 65% of the combined voting power of the surviving
corporation’s voting securities; or 

  

	 	(e)	the acquisition of “Beneficial Ownership” (as defined in Rule 13d-3 under the Exchange Act as in effect on January 1, 2012) of the Company’s
securities comprising 35% or more of the combined voting power of the Company’s outstanding securities by any “person” (as that term is used in Sections 13(d) and 14(d)(2) of the Exchange Act and the rules and regulations promulgated
thereunder, but not including any trustee or fiduciary acting in that capacity for an employee benefit plan sponsored by the Company) and such person’s “affiliates” and “associates” (as those terms are defined under the
Exchange Act). 

 Notwithstanding any provision above to the contrary, no Change in Control shall be deemed to
have occurred with respect to any particular Participant by virtue of a transaction, or series of transactions, that results in the Participant, or a group of persons including the Participant, acquiring the Beneficial Ownership of more than 35% of
the combined voting power of the Company’s outstanding securities. 
 2.5 “Code” shall mean the Internal
Revenue Code of 1986, as amended from time to time, and the regulations promulgated thereunder. Reference to a specific section of the Code shall include a reference to any successor or replacement provision. 

2.6 “Committee” shall mean the Compensation and Benefits Committee of the Board of Directors, as defined in Article 5.

 2.7 “Common Stock” shall mean the common stock, par value $.01 per share of the Company. 

2.8 “Company” shall mean Chico’s FAS, Inc. and its successors. 

2.9 “Employee” shall mean any employee of the Company or of a Subsidiary. Directors who are employed by the Company or
by a Subsidiary shall be considered Employees under the Plan. 
 2.10 “Exchange Act” shall mean the Securities
Exchange Act of 1934, as amended from time to time, or any successor statute. 

  
 2 

 2.11 “Fair Market Value” of a share of Common Stock means, as of any date,
the value of a share of the Common Stock determined as follows: 
  

	 	(a)	if the Common Stock is publicly traded and is then listed on a national securities exchange, its closing price on the date of determination on the principal national
securities exchange on which the Common Stock is listed or admitted to trading as reported in The Wall Street Journal or such other source as the Committee deems reliable, or, if there is no closing price on that date, then on the last
preceding date on which such a closing price was reported; 

  

	 	(b)	if the Common Stock is publicly traded but is not listed or admitted to trading on a national securities exchange, the average of the closing bid and asked prices on
the date of determination as reported in The Wall Street Journal or such other source as the Committee deems reliable, or, if there is no closing price on that date, then on the last preceding date on which such a closing price was reported;
or 

  

	 	(c)	if none of the foregoing is applicable, by the Committee in good faith. 

 2.12 “Incentive Stock Option” or “ISO” shall mean an Option that is intended to qualify as an “incentive stock option” under Section 422 of the Code.

 2.13 “Insider” shall mean an individual who is, on the relevant date, subject to the reporting requirements
of Section 16(a) of the Exchange Act. 
 2.14 “Non-Employee Director” shall mean (a) a member of the
Board of Directors who is not an Employee or (b) a member of the board of directors (or comparable governing body) of a Subsidiary who is not an Employee. 
 2.15 “Non-Qualified Stock Option” or “NSO” shall mean an Option that is not intended to qualify as an “incentive stock option” under Section 422 of the
Code. 
 2.16 “Option” shall mean an Incentive Stock Option or a Non-Qualified Stock Option granted in
accordance with the provisions of Article 6. 
 2.17 “Option or SAR Period” is defined in Section 6.6.

 2.18 “Participant” shall mean any Employee or any Non-Employee Director to whom an Award is granted under
the Plan or who holds an outstanding Award. 
 2.19 “Performance Award” shall mean a right to receive, in cash
or Common Stock (as determined by the Committee in accordance with the provisions of Article 7), an award which is contingent on the achievement of one or more performance goals. 

2.20 “Performance Award Agreement” is defined in Section 7.4. 

2.21 “Performance-Based Exception” shall mean the performance-based exception from the tax deductibility limitation
imposed by Section 162(m) of the Code, as set forth in Section 162(m)(4)(C) of the Code. 

  
 3 

 2.22 “Performance Measures” are defined in Section 7.5. 

2.23 “Plan” shall mean the Chico’s FAS, Inc. 2012 Omnibus Stock and Incentive Plan, as set forth herein and as
further amended from time to time. 
 2.24 “Plan Administrator” shall mean the Company’s Chief Human
Resources Officer, or such other person designated by the Committee to act as Plan Administrator. 
 2.25 “Restricted
Stock” shall mean shares of Common Stock subject to the provisions of Article 7 and granted in an Award in accordance with the provisions of Article 7. 
 2.26 “Restricted Stock Units” shall mean the right to receive shares of Common Stock or the cash equivalent thereof subject to the provisions of Article 7 granted as an Award in
accordance with the provisions of Article 7. 
 2.27 “Restriction Agreement” is defined in Section 7.2.

 2.28 “Restriction Period” is defined in Section 7.1. 

2.29 “Securities Exchange Act of 1934” shall mean the Securities Exchange Act of 1934, as amended, and the rules and
regulations promulgated thereunder, or any successor or replacement statute or regulation of similar import. 
 2.30
“Stock Appreciation Right” or “SAR” shall mean a right to receive upon exercise of the SAR, in cash or Common Stock (as determined in accordance with the provisions of Article 6), value equal to (or otherwise based
on) the excess of (a) the Fair Market Value of a specified number of shares of Common Stock at the time of exercise, over (b) the SAR Price established by the Committee. 

2.31 “Stock Appreciation Right Agreement” is defined in Section 6.1. 

2.32 “Stock Option Agreement” is defined in Section 6.1. 

2.33 “Subsidiary” shall mean any corporation that at the time qualifies as a subsidiary of the Company under the
definition of “subsidiary corporation” contained in Section 424(f) of the Code. 
 2.34 “Substitute
Awards” shall mean Awards granted or shares of Common Stock issued by the Company upon assumption of, or in substitution or exchange for, awards previously granted, or the right or obligation to make future awards, in each case by a company
acquired by the Company or any subsidiary or with which the Company or any Subsidiary combines. 
 ARTICLE 3 

ELIGIBLE PERSONS 
 3.1 Eligibility. All Employees and Non-Employee Directors are eligible to participate in the Plan. The Company may grant an Award to any Employee who is in the employ of the Company or any
Subsidiary on the date of a grant of such Award. The Company may grant an Award (other than an Incentive Stock Option) to any person who is a Non-Employee Director on the date of a grant of such Award. 

  
 4 

 3.2 Selection of Participants. 

 

	 	(a)	Subject to the provisions of the Plan, the Committee may, from time to time, select from all Employees those to whom Awards shall be granted and shall determine the
nature and size of each Award. 

  

	 	(b)	Notwithstanding any other provision herein to the contrary, the Board of Directors shall determine the discretionary Awards to be granted to the Non-Employee Directors
in accordance with the Company’s compensation program for Non-Employee Directors, as such program may be determined from time to time. 

 3.3 General Effect of Award. Each Participant to whom the Committee or the Board of Directors has granted an Award shall be bound by the terms of the Plan and the Award Agreement applicable to him
or her. 
 ARTICLE 4 
 SHARES SUBJECT TO THE PLAN AND MAXIMUM AWARDS 
 4.1 Sources of Shares
Available for Grants and Limits on Shares Subject to the Plan. The Common Stock for which Awards are granted under the Plan shall be subject to the following conditions and limitations: 

 

	 	(a)	The shares of Common Stock with respect to which Awards are made under the Plan shall be shares currently authorized but unissued or currently held or subsequently
acquired by the Company as treasury shares, including shares purchased in the open market or in private transactions for use under the Plan. 

  

	 	(b)	The maximum aggregate number of shares of Common Stock that may be delivered to Participants and their beneficiaries under the Plan shall be equal to the sum of:
(i) seven million (7,000,000) shares of Common Stock; (ii) any shares of Common Stock available for future awards under any prior option plan of the Company (the “Prior Plans”) as of the Effective Date (including
without limitation the 1992 Stock Option Plan, the 1993 Stock Option Plan, the 2002 Omnibus Stock and Incentive Plan and the Non-Employee Directors’ Stock Option Plan); and (iii) any shares of Common Stock that are represented by awards
granted under any Prior Plans which are forfeited, expire or are canceled without delivery of shares of Common Stock. 

  

	 	(c)	To the extent provided by the Committee (or by the Board with respect to any Awards granted to Non-Employee Directors), any Award may be settled in cash rather than
Common Stock. To the extent any shares of Common Stock covered by an Award are not delivered to a Participant or beneficiary because the Award is forfeited or canceled, or the shares of Common Stock are not delivered because the Award is settled in
cash or used to satisfy the applicable tax withholding obligation, such shares shall not be deemed to have been delivered for purposes of determining the maximum number of shares of Common Stock available for delivery under the Plan.

  
 5 

	 	(d)	If the exercise price of any Option granted under the Plan or any Prior Plan is satisfied by tendering shares of Common Stock to the Company (by either actual delivery
or by attestation), only the number of shares of Common Stock issued net of the shares of Common Stock tendered shall be deemed delivered for purposes of determining the maximum number of shares of Common Stock available for delivery under the Plan.
Only the net shares, if any, issued in payment upon the exercise of a Stock Appreciation Right shall be deemed delivered for purposes of determining the maximum number of shares of Common Stock available for delivery under the Plan.

  

	 	(e)	Substitute Awards shall not reduce the shares of Common Stock authorized for grant under the Plan or authorized for grant to a Participant in any calendar year.
Additionally, in the event that a company acquired by the Company or any Subsidiary or with which the Company or any Subsidiary combines has shares available under a pre-existing plan approved by shareholders and not adopted in contemplation of such
acquisition or combination, the shares available for grant pursuant to the terms of such pre-existing plan (as adjusted, to the extent appropriate, using the exchange ratio or other adjustment or valuation ratio or formula used in such acquisition
or combination to determine the consideration payable to the holders of common stock of the entities party to such acquisition or combination) may be used for Awards under the Plan and shall not reduce the shares of Common Stock authorized for grant
under the Plan; provided that Awards using such available shares shall not be made after the date awards or grants could have been made under the terms of the pre-existing plan, absent the acquisition or combination, and shall only be made to
individuals who were not Employees or Directors prior to such acquisition or combination. 

 4.2 Maximum
Awards. Subject to Section 4.3, the following additional limitations on the maximum numbers of shares of Common Stock in the case of certain Awards are imposed under the Plan: 

 

	 	(a)	The maximum number of shares of Common Stock that may be covered by Awards of Stock Options or Stock Appreciation Rights granted to any one individual shall be seven
hundred fifty thousand (750,000) shares during any one calendar-year period. 

  

	 	(b)	For Performance Awards denominated in shares of Common Stock, Restricted Stock and Restricted Stock Units that are intended to qualify for the Performance-Based
Exception, no more than seven hundred fifty thousand (750,000) shares of Common Stock may be subject to such Awards granted to any one individual during any one-calendar-year period. If, after shares have been earned, the delivery is deferred,
any additional shares attributable to dividends during the deferral period shall be disregarded. 

  
 6 

	 	(c)	With respect to Performance Awards denominated in cash that are intended to qualify for the Performance-Based Exception, the maximum dollar value payable to any one
individual during any one-calendar-year period is $10 million. 

  

	 	(d)	Solely for purposes of determining whether shares are available for the grant of Incentive Stock Options under the Plan, the maximum aggregate number of shares of
Common Stock that may be issued pursuant to Incentive Stock Options granted under the Plan shall be 7,000,000. 

4.3 Adjustments to Limitations. The number of shares and the limitations on the number of shares set forth in each of the
foregoing provisions of this Article 4 shall be subject to adjustment as provided in Section 8.1. 
 ARTICLE 5

 ADMINISTRATION 
 5.1 General. Except as otherwise determined by the Board of Directors in its discretion or as otherwise expressly provided for in this Article 5, the Plan shall be administered by the Committee, or
if no Committee is appointed and serving as provided herein, by the full Board of Directors. The Committee shall consist of not less than two (2) nor more than five (5) persons, each of whom shall be a member of the Board and a
“non-employee director” (as such term is defined in Rule 16b-3 under the Securities Exchange Act of 1934) and who also qualify both as “outside directors” within the meaning of Section 162(m) of the Code and the related
regulations and as “independent” as set forth under the applicable stock exchange requirements. The Board of Directors may from time to time remove members from, or add members to, the Committee. Vacancies on the Committee, howsoever
caused, shall be filled by the Board of Directors. 
 5.2 Power and Authority. Subject to the express provisions of the
Plan, the Committee shall have complete authority, in its discretion: 
  

	 	(a)	to interpret the Plan and the Awards granted hereunder, including whether the terms and conditions (including performance goals) applicable to an Award have been
satisfied, and to prescribe, amend and rescind rules and regulations relating to the Plan and the Awards granted hereunder; 

  

	 	(b)	to determine the terms and conditions of any Awards granted hereunder, including, but not limited to, and as applicable, determinations as to the Participants to
receive Awards, the form of Award, the price, vesting provisions (including the ability of a Non-Employee Director to elect to defer the vesting of an Award made pursuant to Section 7.3 of the Plan), restrictions or limitations relating to any
Award, performance goals, the amount and timing of such Awards, any other terms and provisions of such Awards, and the Award Agreements evidencing the same, which need not be uniform and which the Committee may make selectively among Participants
who receive, or who are to receive, Awards under the Plan, whether or not the Participants are similarly situated; 

  
 7 

	 	(c)	to grant dividend equivalents upon Awards (other than Restricted Stock for which Participants are entitled to receive dividends and other distributions paid with
respect to shares of Common Stock so held), provided such grants shall only be made upon such terms and conditions as will satisfy the requirements under Section 409A of the Code and provided further, that any such dividend equivalents shall be
subject to the terms and conditions imposed by the Committee, which shall include, among other things, that dividend equivalents shall be paid, if at all, only if the underlying Award is earned under the Plan; 

 

	 	(d)	to amend the terms and conditions of any Award Agreement after the grant of the Award to which such Award Agreement relates, subject to the terms and conditions of the
Plan, in a manner that is not adverse to the rights of the Participant receiving such Award as set forth in the Award Agreement or under the Plan; and 

  

	 	(e)	to make all other determinations necessary or advisable for the administration of the Plan and Awards. 

With respect to the Non-Employee Directors, the authority conferred by this Section 5.2 shall rest with the Board of Directors and
not the Committee. 
 5.3 Other Factors; Determinations Final. In making determinations under this Article 5, the
Committee or the Board, as the case may be, may take into account the nature of the services rendered by the respective Participant, their present and potential contributions to the success of the Company and such other factors as the Committee or
the Board, in its discretion, deems relevant. The Committee’s determination and the Board’s determination on all of the matters referred to in this Article 5 shall be final, conclusive and binding on all persons. 

5.4 Quorum; Actions. The Committee shall select one of its members as chairman, and shall hold meetings at such times and places
as it may determine. The acts of a majority of the Committee in meetings at which a quorum is present, or acts reduced to or approved in writing by a majority of the members of the Committee, shall be valid acts of the Committee. 

5.5 Delegation. Except to the extent prohibited by applicable law or the applicable rules of a stock exchange, the Committee and
the Board shall have the authority to delegate administrative duties, including the authority to respond to and decide claims or appeals under the Plan and to interpret the Plan terms, to one or more of its members, to the Plan Administrator or to
any other person or persons selected by it. Notwithstanding the foregoing, neither the Committee or the Board may delegate its authority with respect to (a) non-ministerial actions with respect to Insiders; (b) non-ministerial actions with
respect to Awards that are intended to qualify for the Performance-Based Exception; and (c) certifying that any performance goals and other material terms attributable to Awards intended to qualify for the Performance-Based Exception have been
satisfied. Any such allocation or delegation may be revoked by the Committee or the Board, as the case may be, at any time. 

5.6 No Liability; Indemnification. No member of the Committee or the Board shall be liable for any action or determination made in
good faith with respect to the Plan. To the fullest extent permitted by law, each person who is or shall have been a member of the 

  
 8 

 
Committee or the Board shall be indemnified and held harmless by the Company against and from any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by him or her
in connection with or resulting from any claim, action, suit, or proceeding to which he or she may be a party or in which he or she may be involved by reason of any action taken or failure to act under the Plan and against and from any and all
amounts paid by him or her in settlement thereof, with the Company’s approval, or paid by him or her in satisfaction of any judgment in any such action, suit, or proceeding against him or her, provided that the person shall give the Company an
opportunity, at its own expense, to handle and defend the same before the person undertakes to handle and defend it on his or her own behalf. The foregoing right of indemnification shall not be exclusive of any other rights of indemnification to
which such persons may be entitled under the Company’s Articles of Incorporation or Bylaws, by contract or under a policy of insurance, as a matter of law, or otherwise, or any power that the Company may have to indemnify them or hold them
harmless. 
 ARTICLE 6 
 STOCK OPTIONS AND STOCK APPRECIATION RIGHTS 
 6.1 General Method of
Grant. Each Option or Stock Appreciation Right granted under the Plan to Employees shall be authorized by the Committee and each Option or Stock Appreciation Right granted under the Plan to Non-Employee Directors shall be authorized by the
Board. Each Option or Stock Appreciation Right shall be evidenced by a written Award Agreement in such form as the Committee or the Board, as the case may be, from time to time shall approve or authorize (with respect to Options, the “Stock
Option Agreement,” with respect to Stock Appreciation Rights, the “Stock Appreciation Right Agreement”), which shall be executed by the Company and by the Participant, and shall be subject to the terms and conditions of this Article
6. 
 6.2 Number of Shares. The number of shares of Common Stock covered by an Option or SAR granted to an Employee shall
be established in each case by the Committee on or as of the date of grant. The number of shares of Common Stock covered by an Option or SAR granted to a Non-Employee Director shall be established in each case by the Board on or as of the date of
grant. 
 6.3 Option or SAR Price. 
  

	 	(a)	The price at which shares of Common Stock covered by each Option granted to an Employee may be purchased pursuant thereto shall be established or determined by a method
established in each case by the Committee on or as of the date of grant and such price or method shall be stated in the Stock Option Agreement; provided, however, that, other than in connection with Substitute Awards, the purchase price shall be an
amount not less than the Fair Market Value of the shares of Common Stock on the date the Option is granted. 

  

	 	(b)	With respect to Options granted to a Non-Employee Director, the price at which shares of Common Stock covered by each such Option may be purchased pursuant thereto
shall be established or determined by a method established in each case by the Board on or as of the date of grant and such price or method shall be stated in the Stock Option Agreement; provided, however, that the purchase price shall be an amount
not less than the Fair Market Value of a share of Common Stock on the date of grant. 

  
 9 

	 	(c)	With respect to SARs, the SAR Price upon which the SAR value is determined at the time of exercise shall be established or determined by a method established in each
case by the Committee or Board, as applicable, on or as of the date of grant and such SAR Price or method shall be stated in the Stock Appreciation Right Agreement; provided, however, that, other than in connection with Substitute Awards, the SAR
Price shall be an amount not less than the Fair Market Value of a share of Common Stock on the date of grant. 

6.4 Date of Grant. The date on which or as of which the Committee or the Board, as the case may be, approves the grant of an
Option or SAR and all corporate action has been taken which creates a legally binding right to the grant of the Option or SAR shall be considered to be the respective “date of grant” for all purposes under the Plan. 

6.5 Method of Payment. The purchase price of the shares of Common Stock which may be purchased pursuant to each Option shall be
subject to the following: 
  

	 	(a)	Subject to the other provisions of this Section 6.5, the full price for shares of Common Stock purchased upon exercise of any Option shall be paid at the time of
exercise (except that, in the case of an exercise arrangement approved by the Committee or the Board, as the case may be, and described in Section 6.5(c), payment may be made as soon as practicable after the exercise). 

 

	 	(b)	The Option price shall be payable (A) in United States dollars in cash or by check, bank draft or money order payable to the order of the Company, (B) by the
delivery of shares of Common Stock already owned by the Participant, in a manner acceptable to the Committee or the Board, as the case may be; (C) by withholding shares of Common Stock otherwise issuable in connection with the exercise of the
Option; (D) by any other legally permissible means acceptable to the Committee or the Board, as the case may be, specified in the Stock Option Agreement; or (E) at the discretion of the Committee or the Board, as the case may be, through a
combination of some or all of the preceding payment methods provided such combination is specified in the Stock Option Agreement. Shares of Common Stock delivered as payment will be valued at their Fair Market Value on the day of delivery for the
purpose of determining the extent to which the Option purchase price has been paid thereby, or as otherwise determined by the Committee or the Board, as the case may be, in its respective discretion pursuant to any reasonable method contemplated by
Section 422 of the Code. 

  

	 	(c)	To the extent permitted by applicable law and regulations, the Committee or the Board, as the case may be, may permit a Participant to elect to pay the Option purchase
price upon the exercise of an Option by irrevocably authorizing a third party to sell shares of Common Stock (or a sufficient portion of the shares) acquired upon exercise of the Option and remit to the Company a sufficient portion of the sale
proceeds to pay the entire purchase price and any tax withholding resulting from such exercise and sale. 

  
 10 

 6.6 Option or SAR Exercise Period. Each Stock Option Agreement or Stock Appreciation
Right Agreement with respect to any Option or, as applicable, SAR, shall provide that the Option or SAR may be exercised by the Participant in such portions and at such times as may be specified in such Stock Option Agreement or Stock Appreciation
Right Agreement, subject to an Option or SAR Period ending not later than ten (10) years after the date of grant; provided, however, that the Option or SAR Period shall end on the date specified in such Stock Option Agreement or Stock
Appreciation Right Agreement or, with respect to any Option or SAR granted to an Employee, if earlier, the ending date of the period specified in the next sentence. An Option or SAR granted to an Employee may be exercised only during the Option or
SAR Period and only during the continuance of the Participant’s employment with the Company or a Subsidiary; provided, the Committee or the Board, as applicable, and in its discretion, may permit a Participant to exercise an Option or SAR
post-termination of employment at such time and in such manner as is set forth in the Participant’s Stock Option Agreement or Stock Appreciation Right Agreement. 
 6.7 Exercise and Vesting of Options and SARs. 
  

	 	(a)	The Committee or the Board, as applicable, shall determine the vesting and exercise provisions applicable to an Option or SAR, which provisions shall be reflected in
the Stock Option Agreement or Stock Appreciation Right Agreement. 

  

	 	(b)	Notwithstanding the foregoing, a Participant shall become 100% vested in the number of shares of Common Stock originally covered by an Option or SAR in the event
Participant dies or becomes totally and permanently disabled (as determined in the sole discretion of the Committee) while still employed by the Company or upon a Change in Control, provided upon such Change in Control, vesting will occur only if
either (1) the successor company does not assume, convert, continue or otherwise replace the Option or SAR on proportionate and equitable terms or (2) the Participant is terminated without cause within twelve (12) months following the
Change in Control. 

 6.8 Multiple Grants in Single Agreement. In the discretion of the Committee, a single
Stock Option Agreement may include both Incentive Stock Options and Non-Qualified Stock Options, or separate Stock Option Agreements may be set forth for Incentive Stock Options and Non-Qualified Stock Options. 

6.9 Other Provisions. The Stock Option Agreements and Stock Appreciation Right Agreements under the Plan may contain such other
terms, provisions and conditions not inconsistent with the Plan as shall be determined by the Committee or the Board, as the case may be, in its discretion, including, without limitation, provisions: (i) relating to the vesting and termination
of Options or SARs; (ii) relating to exercisability of Options or SARs, including without limitation immediate exercisability and separate vesting of the rights to shares of Common Stock acquired upon exercise; (iii) restricting the
transferability of such shares during a specified period; and (iv) requiring the resale of such shares to the Company, at a price as specified in the Stock Option Agreement or Stock Appreciation Right Agreement, if the Participant’s
employment by the Company terminates prior to a time specified in the Stock Option Agreement or Stock Appreciation Right Agreement. 

  
 11 

 6.10 Special Provisions for Incentive Stock Options. Each Option that is intended to
qualify as an Incentive Stock Option pursuant to Section 422 of the Code, and each Option that is intended to qualify as another type of incentive stock option that may subsequently be authorized by law, shall comply with the applicable
provisions of the Code pertaining to such options. Accordingly, the provisions of the Plan with respect to Incentive Stock Options shall be construed in a manner consistent with such requirements, and no person shall be eligible to receive any
Incentive Stock Options under the Plan if such person would not be able to qualify for the benefits of incentive stock options under Section 422 of the Code. Without limitation on the foregoing, and notwithstanding the foregoing provisions of
this Section 6.10, if any Incentive Stock Option is granted to any person at a time when such person owns, within the meaning of Section 424(d) of the Code, more than ten percent (10%) of the total combined voting power of all classes
of stock of the employer corporation (or a parent or subsidiary of such corporation within the meaning of Section 424 of the Code), the price at which each share of Common Stock covered by such Option may be purchased pursuant to such Option
shall not be less than one hundred ten percent (110%) of the Fair Market Value of the shares of Common Stock at the time the Option is granted, and such Option must be exercised in no event later than the fifth anniversary of the date on which
the Option was granted. Moreover, as long as and to the extent required by the Code, the aggregate Fair Market Value (determined as of the time an Incentive Stock Option is granted) of the shares of Common Stock with respect to which Incentive Stock
Options are exercisable for the first time by any Participant in any calendar year under the Plan and under all other incentive stock option plans of the Company and any parent and subsidiary corporations of the Company (as those terms are defined
in Section 424 of the Code) shall not exceed $100,000. 
 ARTICLE 7 

PERFORMANCE AWARDS, RESTRICTED STOCK 
 AND RESTRICTED STOCK UNITS 
 7.1 Awards of Performance Awards,
Restricted Stock or Restricted Stock Units; Restriction Period. 
  

	 	(a)	At the time of an Award of a Performance Award, Restricted Stock or Restricted Stock Units, there shall be established for each Participant a restriction period (the
“Restriction Period”), which shall lapse upon one or more of the following events, as set forth in the Award Agreement (i) the completion of a period of time (“Time Goal”) as shall be determined by the Committee or the
Board, as the case may be, (ii) the achievement of stock price goals within certain time periods (“Price/Time Goal”) as shall be determined by the Committee or the Board, as the case may be, or (iii) the achievement of
performance or other objectives (“Performance Goal”) as shall be determined by the Committee or the Board, as the case may be. 

  
 12 

	 	(b)	Unless otherwise determined and approved by the Committee or the Board, as the case may be, pursuant to Section 7.1(a), and except as otherwise provided in
Section 8.3, with respect to any Award of Restricted Stock or Restricted Stock Units which is to be subject to a Time Goal, such Time Goal established by the Committee or the Board, as the case may be, at the time of grant shall not provide for
a lapse of the applicable restrictions more rapidly than would be permitted by the following schedule: 

  

					
	 Time After Date of Grant
	  	Shares as to 
Which
Restriction Lapses	 
		
	 Less than 1 year
	  	 	0	% 
		
	 1 year but less than 2 years
	  	 	33 1/3	% 
		
	 2 years but less than 3 years
	  	 	66 2/3	% 
		
	 3 years or more
	  	 	100	% 

 7.2 Restricted Stock. The Committee or the Board, as the case may be, may award to any Participant
shares of Common Stock, subject to this Article 7 and such other terms and conditions as the Committee or the Board may prescribe (“Restricted Stock”). Each certificate for Restricted Stock shall be registered in the name of the
Participant and deposited by the Participant, together with a stock power endorsed in blank, with the Plan Administrator. Restricted Stock awarded under the Plan shall be evidenced by a signed written agreement containing such terms and conditions
as the Committee or the Board, as the case may be, may from time to time determine in its discretion (the “Restriction Agreement”). Restricted Stock may not be sold, assigned, transferred, pledged or otherwise encumbered, except as
hereinafter provided, during the Restriction Period. Except for such restrictions on transfer, the Participant as owner of such Restricted Stock shall have all the rights of a holder of such Common Stock. If provided in the Restriction Agreement
approved by the Committee at the time of grant, a Participant may transfer Restricted Stock to a trust, provided that the Committee or the Board, as the case may be, may require that the Participant submit an opinion of his or her legal counsel,
satisfactory to the Committee or the Board, as the case may be, that such holding has no adverse tax or securities law consequences for the Company. With respect to Restricted Stock that is issued subject to a Time Goal, a Price/Time Goal or a
Performance Goal, the Plan Administrator shall redeliver to the Participant (or the Participant’s legal representative or designated beneficiary) the certificates deposited pursuant to this Section 7.2 at the expiration of the Restriction
Period. Notwithstanding the foregoing, if Restricted Stock is issued subject to a Time Goal, a Price/Time Goal or Performance Goal and the Committee or the Board, as the case may be, determines that a Participant has not achieved the Time Goal, the
Price/Time Goal or the Performance Goal before the end of the Restriction Period, the Participant shall have no further rights with respect to the Restricted Stock, all such shares shall be forfeited and the Committee shall have the right to
complete a blank stock power in order to return such shares to the Company. 
 7.3 Restricted Stock Units. The Committee
or the Board, as the case may be, may award to a Participant a right to receive Common Stock or the cash equivalent of the Fair Market Value of the Common Stock, in the Committee’s or the Board’s discretion, at the end of the

  
 13 

 
Restriction Period (“Restricted Stock Units”) subject to achievement of a Time Goal, a Price/Time Goal or a Performance Goal established by the Committee or the Board, as the case may
be. Restricted Stock Units awarded under the Plan shall be evidenced by a signed written agreement containing such terms and conditions as the Committee or the Board, as the case may be, may from time to time determine in its discretion (the
“Restriction Agreement”). With respect to Restricted Stock Units that are subject to a Time Goal, a Price/Time Goal or a Performance Goal, the Plan Administrator shall deliver notice to the Participant (or the Participant’s legal
representative or designated beneficiary) at the end of the Restriction Period as to whether the Participant has achieved the Time Goal, the Price/Time Goal or the Performance Goal, as the case may be. If the Committee or the Board, as the case may
be, determines that a Participant has not achieved the Time Goal, the Price/Time Goal or the Performance Goal, as the case may be, before the end of the Restriction Period, the Participant shall have no further rights with respect to the Restricted
Stock Units. 
 7.4 Performance Awards. The Committee or the Board, as the case may be, may award to a Participant a
right to receive Common Stock or a certain cash amount, in the Committee’s or the Board’s discretion, at the end of the Restriction Period (“Performance Awards”) subject to achievement of one or more performance goals established
by the Committee or the Board, as the case may be. Performance Awards awarded under the Plan shall be evidenced by a signed written agreement containing such terms and conditions as the Committee or the Board, as the case may be, may from time to
time determine in its discretion (the “Performance Award Agreement”). The Plan Administrator shall deliver notice to the Participant (or the Participant’s legal representative or designated beneficiary) at the end of the Restriction
Period as to whether the Participant has achieved the performance goal(s). If the Committee or the Board, as the case may be, determines that a Participant has not achieved the performance goal(s) before the end of the Restriction Period, the
Participant shall have no further rights with respect to the Performance Awards. 
 7.5 Performance Based Compensation.
The Committee may designate whether any Performance Award, Restricted Stock and Restricted Stock Units being granted to any Participant is intended to be qualify for the Performance-Based Exception. Any such Performance Award, Restricted Stock or
Restricted Stock Units designated as intended to qualify for the Performance-Based Exception shall be conditioned on the achievement of one or more performance measures, to the extent required by Section 162(m) of the Code, and shall include at
least a one (1) year performance period. The performance measures (“Performance Measures”) that may be used by the Committee, or as applicable, the Board, for such Awards shall be based on any one or more of the following, as selected
by the Committee or Board, as applicable: net sales; comparable sales; revenue; revenue growth or product revenue growth; operating income (before or after taxes); pre- or after-tax income (before or after allocation of corporate overhead and
bonus); net earnings; earnings per share; net income (before or after taxes); return on equity; total shareholder return; return on assets or net assets; appreciation in and/or maintenance of share price; gross profits; earnings (including earnings
before taxes, earnings before interest and taxes or earnings before interest, taxes, depreciation and amortization); economic value-added models or equivalent metrics; comparisons with various stock market indices; reductions in costs; cash flow or
cash flow per share (before or after dividends); return on capital (including return on total capital or return on invested capital); cash flow return on investment; improvement in or attainment of expense levels or working capital levels; operating
margins, gross margins or cash margin; year-end cash; debt reductions; shareholder equity; market share; 

  
 14 

 
regulatory achievements; implementation, completion, or attainment of measurable objectives with respect to research, development, products or projects and recruiting and maintaining personnel.
The Performance Measures may be expressed in terms of absolute growth, cumulative growth, percentage growth, a designated absolute amount, percentage of sales, and per share value of Common Stock outstanding. In addition, the Performance Measures
may be based solely by reference to the Company’s performance or the performance of a Subsidiary, division, business segment or business unit of the Company, or based upon the Company’s performance relative to the performance of one or
more companies or an index covering multiple companies. The Committee may also exclude, if provided in the Award Agreement, charges related to an event or occurrence which the Committee determines should appropriately be excluded, including
(a) restructurings, discontinued operations, extraordinary items, and other unusual or non-recurring charges, (b) an event either not directly related to the operations of the Company or not within the reasonable control of the
Company’s management, or (c) the cumulative effects of tax or accounting changes in accordance with U.S. generally accepted accounting principles. For Performance Awards, Restricted Stock or Restricted Stock Units intended to qualify for
the Performance-Based Exception, the grant of the Performance Award, Restricted Stock or Restricted Stock Units, the establishment of the performance measures and the certification as to whether such performance goals have been satisfied shall be
made in a manner and during the period required under Section 162(m) of the Code. 
 ARTICLE 8 

MISCELLANEOUS 
 8.1 Adjustment of Number of Shares, Etc. 
  

	 	(a)	Division/Combination of Shares. In the event of any increase or decrease in the number of issued shares of Common Stock resulting from a stock split or other
division or consolidation of shares or the payment of a stock dividend (but only on Common Stock) or any other increase or decrease in the number of shares of Common Stock effected without any receipt of consideration by the Company, then, in any
such event, the number of shares of Common Stock that remain available under the Plan, the number of shares covered by each outstanding Option or SAR, the exercise price per share covered by each outstanding Option or SAR, the purchase price per
share and the number and any purchase price for any other Awards involving Common Stock (or equivalents) granted but not yet issued, in each case, shall be proportionately and appropriately adjusted for any such increase or decrease.

  

	 	(b)	Change Affecting Shares of Common Stock. Subject to any required action by the stockholders, if any change occurs in the Common Stock by reason of any
recapitalization, reorganization, merger, consolidation, split-up, combination or exchange of shares, or of any similar change affecting Common Stock, then, in any such event, the number and type of shares of Common Stock then covered by each
outstanding Option or SAR, the purchase price per share covered by each outstanding Option or SAR and the purchase price per share and the number and any purchase price for any other Awards involving Common Stock (or equivalents) granted but not yet
issued, in each case, shall be proportionately and appropriately adjusted for any such change. 

  
 15 

	 	(c)	Change in Par Value. In the event of a change in the Common Stock as presently constituted that is limited to a change of all of its authorized shares with par
value into the same number of shares with a different par value or without par value, the shares resulting from any change shall be deemed to be Common Stock within the meaning of the Plan. 

 

	 	(d)	Discretion Concerning Adjustments. To the extent that the foregoing adjustments relate to stock or securities of the Company, such adjustments shall be required
to be made and, with respect to any Incentive Stock Option granted pursuant to Article 6, such adjustment shall be done in a manner that causes such Option to continue to qualify as an incentive stock option within the meaning of Section 422 of
the Code. 

  

	 	(e)	No Affect on Company’s Right to Adjust. The existence of the Plan, or the grant of an Option or other Award under the Plan, shall not affect in any way the
right or power of the Company to make adjustments, reclassifications, reorganizations or changes of its capital or business structure or to merge or to consolidate, or to dissolve, to liquidate, to sell, or to transfer all or any part of its
business or assets. 

 8.2 Transferability. Except as otherwise provided by the Committee or the Board, as
the case may be, Awards granted under the Plan shall be non-transferable, and its terms shall state that it is non-transferable and that, during the lifetime of the Participant, shall be exercisable only by the Participant; notwithstanding the
foregoing, Awards shall be transferable by will or the laws of descent and distribution. 
 8.3 Change in Control. In the
event of a Change in Control, any Award subject to a Time Goal shall become fully vested without regard to any other terms of the Award but only if either (a) the successor company does not assume, convert, continue, or otherwise replace the
Award on proportionate and equitable terms or (2) the Participant is terminated without cause within twelve (12) months following the Change in Control. The treatment upon a Change in Control of an Award that is subject to a Performance
Goal shall be governed by the terms of the applicable Award Agreement. 
 8.4 Beneficiary Designation. Each Participant
under the Plan may name, from time to time, any beneficiary or beneficiaries (who may be named contingently or successively) to whom any benefit (other than an Option) under the Plan is to be paid in case of his or her death before the Participant
receives any or all of such benefit. Each designation will be effective only with the written consent of the Participant’s spouse and will revoke all prior designations by that Participant, shall be in the form prescribed by the Plan
Administrator, and will be effective only when filed by the Participant in writing with the Plan Administrator during his or her lifetime. In the absence of any such designation, benefits (other than those under Options) that are vested and remain
unpaid at the Participant’s death shall be paid to his or her estate. 

  
 16 

 8.5 Tax Withholding. 

 

	 	(a)	Power to Withhold; Methods to Satisfy. The Company shall have the power to withhold, or require a Participant to remit to the Company, an amount sufficient to
satisfy any federal, state or local withholding or other tax due from the Company with respect to any amount payable and/or shares issuable under the Plan, and the Company may defer such payment or issuance unless indemnified to its satisfaction.
Whenever under the Plan payments are to be made in cash, such payments shall be made net of an amount sufficient to satisfy any federal, state or local withholding tax liability. The Committee or the Board, as the case may be, in its discretion, and
subject to such requirements as the Committee or the Board may impose prior to the occurrence of such withholding, may permit such withholding obligations to be satisfied through cash payment by the Participant, through the surrender of shares of
Common Stock which the Participant already owns, or through the surrender of shares of Common Stock to which the Participant is otherwise then entitled under the Plan, provided, only the minimum amount required to satisfy statutory requirements
shall be withheld. 

  

	 	(b)	Irrevocable Elections by Participants. Subject to the consent of the Committee or the Board, as the case may be, with respect to (i) the exercise of a
Non-Qualified Stock Option, (ii) the lapse of restrictions on Restricted Stock, or (iii) the issuance of any other stock Award under the Plan, a Participant may make an irrevocable election (an “Election”) to (A) have shares
of Common Stock otherwise issuable under (i) withheld, or (B) tender back to the Company shares of Common Stock received pursuant to (i), (ii) or (iii), or (C) deliver back to the Company pursuant to (i), (ii), or
(iii) previously acquired shares of Common Stock having a Fair Market Value sufficient to satisfy all or part of the Participant’s estimated tax obligations associated with the transaction, provided only the minimum amount required to
satisfy statutory requirements shall be withheld. Such Election must be made by a Participant prior to the date on which the relevant tax obligation arises. The Committee or the Board, as the case may be, may disapprove of any Election, may suspend
or terminate the right to make Elections, or may provide with respect to any Award under the Plan that the right to make Elections shall not apply to such Awards. 

8.6 Gender and Number. Except where otherwise indicated by the context, words in the masculine gender when used in the Plan will
include the feminine gender, the singular shall include the plural, and the plural shall include the singular. 
 8.7 Choice
of Law. All questions concerning the construction, validity and interpretation of the Plan and all Awards made under the Plan shall be governed by the substantive laws of the State of Florida (but any provision of Florida law shall not apply if
the application of such provision would result in the application of the law of a state or jurisdiction other than Florida). 

8.8 No Stockholder Rights. No Participant hereunder shall have any rights of a stockholder of the Company by reason of being
granted an Award under the Plan until the date on which he or she becomes a record owner of shares of Common Stock purchased upon the 

  
 17 

 
exercise of an Option or otherwise received under the Plan (the “record ownership date”). No adjustment shall be made for dividends (ordinary or extraordinary, whether in cash,
securities or other property), distributions, or other rights for which the record date is prior to the record ownership date. 

8.9 Amendments; Exchanges, Termination or Suspension. 

 

	 	(a)	Amendment. The Plan may be amended from time to time by written resolution of the Board of Directors; provided, however, that no Participant’s existing
rights are adversely affected thereby without the consent of such person, and provided further that, without approval of the stockholders of the Company, no amendment shall (i) increase the total number of shares of Common Stock that may be
issued pursuant to Awards granted under the Plan, (ii) change the designation of the class of employees eligible to receive Awards, (iii) decrease the minimum Option or SAR price set forth in Section 6.3 of the Plan, (iv) extend
the period during which an Option or Stock Appreciation Right may be exercised beyond the maximum period specified in the Plan, (v) otherwise materially modify the requirements as to eligibility for participation in the Plan,
(vi) otherwise materially increase the benefits under the Plan, or (vii) withdraw the authority to administer the Plan as to Awards made to Employees from the Committee. Notwithstanding the foregoing, the Board may amend the Plan to
incorporate or conform to requirements imposed by and amendments made to the Code or regulations promulgated thereunder which the Board deems to be necessary or desirable to preserve (A) incentive stock option status for outstanding Incentive
Stock Options and to preserve the ability to issue Incentive Stock Options pursuant to the Plan, (B) the deductibility by the Company of amounts taxed to Plan Participants as ordinary compensation income, and (C) the status of any Award as
exempt from registration requirements under any securities law for which the Award was intended to be exempt. The foregoing prohibitions in this Section 8.9 shall not be affected by adjustments in shares and purchase price made in accordance
with the provisions of Section 8.1. 

  

	 	(b)	Certain Exchanges, Etc., Stockholder Approval Required. Subject to the terms and conditions and within the limitations of the Plan, the Committee may modify,
extend or renew outstanding Awards or accept the surrender by the affected Participants of outstanding Awards (to the extent not previously exercised) and authorize the granting of a new Award in substitution therefore; provided, however, other than
in connection with Section 8.1, the Committee shall not without the approval of the stockholders of the Company (i) lower the exercise price of an Option or Stock Appreciation Right, (b) cancel an Option or Stock Appreciation Right
when the exercise price exceeds the Fair Market Value of the underlying shares of Common Stock in exchange for another Award or cash (other than in connection with Substitute Awards), and (c) take any other action with respect to an Option or
Stock Appreciation Right that would be treated as a repricing under the rules and regulations of the principal securities market on which the Common Stock is traded. Notwithstanding the foregoing, no modification of an Award shall, without the
consent of the affected Participant, adversely affect or otherwise impair any of the rights of the Participant or obligations of the Company under any outstanding Award previously granted under the Plan. 

  
 18 

	 	(c)	Termination; Suspension. The Board of Directors may terminate the Plan or any portion thereof at any time by written resolution. No suspension or termination
shall impair the rights of Participants under outstanding Awards without the consent of the Participants affected thereby. 

 8.10 Listing and Registration of Common Stock. Each Award shall be subject to the requirement that if at any time the Board of Directors shall determine, in its discretion, that the listing,
registration or qualification of the Common Stock that is the subject thereof or that is covered thereby upon any securities exchange or under any state or federal laws, or the consent or approval of any governmental regulatory body, is necessary or
desirable as a condition of, or in connection with, the granting of such Award or the issuance or purchase of Common Stock thereunder, such Award may not be exercised unless and until such listing, registration, qualification, consent or approval
shall have been effected or obtained free of any conditions not acceptable to the Board of Directors. Notwithstanding anything in the Plan to the contrary, if the provisions of this Section 8.10 become operative, and if, as a result thereof,
the exercise of an Award is delayed, then and in that event, the term of the Award shall not be affected. Notwithstanding the foregoing or any other provision in the Plan, the Company shall have no obligation under the Plan to cause any shares of
Common Stock to be registered or qualified under any federal or state law or listed on any stock exchange or admitted to any national marketing system. 
 8.11 Compliance with Applicable Laws. Notwithstanding any other provision of the Plan, the Company shall have no liability to deliver any shares of Common Stock under the Plan or make any other
distribution of benefits under the Plan unless such delivery or distribution would comply with all applicable laws (including, without limitation, the requirements of the Securities Act of 1933), and the applicable requirements of any securities
exchange or similar entity. 
 8.12 Stock Certificates; Book Entry. To the extent that the Plan provides for issuance of
stock certificates to reflect the issuance of shares of Common Stock, the issuance may be effected on a non-certificated basis, to the extent not prohibited by applicable law or the applicable rules of any stock exchange. 

8.13 No Implied Rights to Employees.  
  

	 	(a)	Existence of Plan. The existence of the Plan shall in no way give any employee the right to continued employment, give any director the right to continued
service on the Board, give any employee or director the right to receive any Awards or any compensation under the Plan, or otherwise provide any employee or director any rights not specifically set forth in the Plan or in any Award Agreement.

  

	 	(b)	 Granting of Awards. The granting of Awards under the Plan shall in no way give any employee the right to continued employment, give any director
the right to continued service on the Board, give any employee or director the right to receive 

  
 19 

	 	
any additional Awards or any additional compensation under the Plan, or otherwise provide any employee or director any rights not specifically set forth in the Plan or in any Award Agreement.

 8.14 Necessity for Delay. If at any time the Committee or the Board, as the case may be, shall
determine, in its discretion, that the listing, registration or qualification of the shares of Common Stock covered by the Plan or any Award upon any securities exchange or under any state or federal law or the consent or approval of any
governmental regulatory body, is necessary or desirable as a condition of, or in connection with, the Plan, the offer, issue or purchase of shares of Common Stock thereunder, or the grant or exercise of any Award, the Plan shall not be effective as
to later offerings of shares of Common Stock and grants of Awards to which such determination is applicable, and each outstanding Award to which such determination is applicable, by its terms, shall not be exercisable, unless and until such listing,
registration, qualification, consent or approval shall have been effected or obtained free of any conditions not acceptable to the Committee or the Board, as the case may be. Notwithstanding the foregoing or any other provision in the Plan, the
Company shall have no obligation under the Plan to cause any shares of Common Stock to be registered or qualified under any federal or state law or listed on any stock exchange or admitted to any national marketing system. 

8.15 Use of Proceeds. The proceeds received by the Company from the sale of Common Stock pursuant to an Award will be used for
general corporate purposes. 
 8.16 No Obligation to Exercise. The granting of any Award under the Plan shall impose no
obligation upon any Participant to exercise such Award. 
 8.17 Assignment by Company; Third Party Beneficiaries. The
Company’s rights, benefits and remedies under the Plan and any Award Agreements shall be enforceable by the Company’s successors and assigns, whether by merger or otherwise, including without limitation, the Company’s rights to
enforce and obtain the benefit of any restrictive covenants arising under any confidentiality, noncompetition, nonsolicitation, nonacceptance and/or “lock-up” agreement to which a Participant is a party (including without limitation, any
agreement included as a part of the Award Agreement). It is the specific intent of the Company that any successor or assignee of the Company be a third-party beneficiary of any such agreement and that any restrictive covenants and other provisions
in any such agreements are intended to benefit any such successors and assigns. 
 8.18 Effective Date. The Plan has been
approved by the Board of Directors and shall be effective upon the approval of the stockholders of the Company at the Company’s 2012 annual meeting (the “Effective Date”). 

8.19 Term of the Plan. The Plan shall be unlimited in duration and, in the event of complete Plan termination pursuant to
Section 8.9 shall remain in effect as long as any Awards under it are outstanding; provided, however, that no Awards may be granted under the Plan after the earlier of (a) the ten-year anniversary of the original Effective Date (i.e.,
June 21, 2022) (except for Awards granted pursuant to commitments entered into prior to such ten-year anniversary) or (b) the date of a complete Plan termination pursuant to Section 8.9; and, provided further however that, upon any
termination of only a portion of the Plan pursuant to Section 8.9 occurring prior to the ten year anniversary of the Effective Date, no Awards may be granted under the portion of the Plan so terminated after the date of such partial termination
pursuant to Section 8.9. 

  
 20 

 8.20 409A Compliance. Except with respect to Awards made to Non-Employee Directors
pursuant to Section 7.3 of the Plan, the Company’s intent in entering into this Plan is that none of the Awards made hereunder constitute a “deferral of compensation” under Section 409A of the Internal Revenue Code of 1986,
as amended (“Section 409A”). As such, the Plan (except for Awards made to Non-Employee Directors pursuant to Section 7.3 of the Plan) shall be interpreted, administered and maintained in all respects in a manner consistent with such
intent. With respect to Awards made to Non-Employee Directors pursuant to Section 7.3 of the Plan, the Plan is intended, in part, to provide for the “deferral of compensation” under Section 409A of the Code and, as a result, is
intended to be subject to Section 409A of the Code. As such, Awards made to Non-Employee Directors pursuant to Section 7.3 of the Plan shall be interpreted, administered and maintained in all respects in a manner consistent with such
intent. 

  
 21EX-10.3

 Exhibit 10.3 
 L E A S E 
  

	1.	PARTIES: 

 1.1
Names. This lease (the “Lease”) is made and entered into on the date below written in San Francisco, California, by and between EDWARD J. CONNER, Landlord, and CONSTANT CONTACT, INC., a Delaware corporation,
Tenant.
  

	2.	PREMISES: 

 2.1
Description. Landlord hereby leases to Tenant and Tenant hereby rents from Landlord the real property consisting of approximately 7,898 rentable square feet of space located on the first floor of 85 Second Street, San Francisco,
California as identified on Exhibit A (the “Premises”). The term “Building” for purposes of this Lease shall include common areas and the structure at 85 Second Street, San Francisco, California.

 

	3.	TERM: 

 3.1
Period. The term of this Lease shall be for a period of five (5) years, commencing upon the earlier of Tenant commencing business on the Premises (provided in no event shall the construction of the initial Tenant Improvements or
moving in of furniture be deemed to be “commencing business”) or November 1, 2012 (such earlier date, the “Commencement Date”).
 3.2 Possession. Landlord will deliver possession of the Premises to Tenant on August 1, 2012, free of (i) all tenants having possessory rights; and (ii) debris and personal
property other than wiring. If Landlord is unable to deliver possession of the Premises as of August 1, 2012 as a result of causes beyond its reasonable control, Landlord shall not be liable for any damage caused for failing to deliver
possession, and this Lease shall not be void or voidable. The Commencement Date shall be delayed one day for each day that Landlord is late in delivering possession of the Premises to Tenant; provided that if Landlord has not delivered the
Premises by November 1, 2012, then Tenant may terminate the Lease by delivering written notice thereof to Landlord no later than November 15, 2012. Tenant’s use of the Premises prior to the Commencement Date shall be subject to all of
the terms and conditions of this Lease except that Tenant shall have no obligation to pay Base or Additional Rent and Tenant shall use the Premises solely for the construction of tenant improvements and the installation of furniture, fixtures and
equipment.

  
 – 1
– 

	4.	RENT: 

 4.1
Amount and Payment. Commencing on the Commencement Date, Tenant shall pay to Landlord as base rent (the “Base Rent”), in advance, without deduction, setoff, prior notice or demand, the following sum per month: 

 

					
	 Month
	  	Base Rent	 
		
	 1-12
	  	$	29,617.50	  
	 13-24
	  	$	30,275.66	  
	 25-36
	  	$	30,933.83	  
	 37-48
	  	$	31,592.00	  
	 49-60
	  	$	32,250.16	  

 Notwithstanding the foregoing, provided that Tenant is not then in default beyond any applicable cure period, Tenant
shall not be required to pay the Base Rent owing in the first month of the Lease term. Base Rent for the first month such rent is owing (i.e., the second month) shall be paid concurrently with the execution and delivery of this Lease. Thereafter,
Base Rent shall be paid on the first day of each calendar month during the lease term. If the date of commencement or expiration of the term of this Lease occurs on a day other than on the first day of a calendar month, Base Rent for the first
and last month shall be prorated upon the number of lease days in that particular month. All rental shall be paid at Suite 250, 27 Maiden Lane, San Francisco or in such other place or to such other person as Landlord may from time to time
designate in writing. All payments of any type due from Tenant to Landlord hereunder shall be characterized as rental due under this Lease. 
 4.2 Security Deposit. Receipt of $30,933.83 is hereby acknowledged as a security deposit for the performance by Tenant of the provisions of this Lease. If Tenant is in default beyond
any applicable cure period, Landlord may use the security deposit, or any portion of it, to cure the default or compensate itself for all damage resulting from Tenant’s default. Tenant hereby waives Civil Code Section 1950.7. Tenant
shall pay upon demand to Landlord a sum equal to the portion of the security deposit expended or applied by Landlord so as to maintain the security deposit in the sum initially deposited with the Landlord. If Tenant is not in default at the
expiration or sooner termination of this Lease, Landlord shall return the security deposit without interest to Tenant after calculation and deduction of all sums due under this Lease within sixty (60) days after such expiration or
termination. Landlord’s obligations with respect to the security deposit are those of a debtor and not a trustee and Landlord may commingle the security deposit with Landlord’s other funds.

  
 – 2
– 

 4.3 Late Charge; Interest. If Tenant fails to pay any rental due hereunder
within 5 business days after notice that the same is due with respect to the first late payment in any calendar year or within 5 days of the date when it is due with respect to any other late payment, Tenant shall pay Landlord a late charge in an
amount equal to seven percent (7%) of the amount not paid when due and interest on the past-due amount, from the date due until paid, at the rate of ten per cent (10%) per annum. Tenant shall pay the late charge and interest as Additional
Rent with the next installment of Base Rent.
  

	5.	RENTAL ADJUSTMENT: 

5.1 General. In addition to the Base Rent provided for in paragraph 4, Tenant shall pay to Landlord as additional rental the
sums set forth in this paragraph 5 (the “Additional Rent”). 
 5.2 Adjustment for Operating Expenses.

 (a) Adjustment. Tenant shall pay to Landlord as Additional Rent an amount equal to Tenant’s proportionate
share of Operating Expenses for each calendar year (the “Comparison Year”) that are in excess of the Operating Expenses in the calendar year 2013 (the “Base Year”). If in the Base Year or any Comparison Year the average of
the rentable square feet of the Building actually occupied by tenants is less than 95% of the total rentable square feet of the Building, Operating Expenses shall be adjusted to equal Landlord’s reasonable estimate of Operating Expenses had
there been average occupancy of 95% of the total rentable square feet of the Building for the year. If in the Base Year or any Comparison Year Landlord is not furnishing a particular service or work (the cost of which, if furnished by Landlord,
would be included in Operating Expenses) to a tenant (other than Tenant) that has undertaken to perform such service or work in lieu of receiving it from Landlord, Operating Expenses for that year shall be considered to be increased by an amount
equal to the additional Operating Expenses that Landlord would reasonably have incurred during this period if Landlord had furnished such service or work to that tenant. Landlord’s reasonable estimate of such expenses shall be final and binding
on Tenant. 
 (b) Operating Expenses. The term “Operating Expenses” as used herein shall include all
actual direct costs of operation, maintenance and management of the Building, including common areas serving the Building, as determined by generally accepted accounting practices. By way of illustration but not

  
 – 3
– 

 
limitation, Operating Expenses shall include the cost or charges for the following items: heat; air conditioning; light; water and sewer charges; power; waste disposal; janitorial services;
window cleaning; materials and supplies; equipment and tools; security; maintaining elevators; service agreements on equipment and their maintenance and repairs; insurance premiums for the insurance carried by Landlord, in amounts reasonably
determined by Landlord; licenses, permits and inspection fees; wages and salaries; employee benefits and payroll taxes; accounting, auditing and legal expenses; management fees not to exceed customary fees for such services for comparable buildings
in San Francisco, California; maintenance of the Building and grounds; depreciation on personal property; the cost of contesting the validity or applicability of any governmental enactments which may affect operating expenses; cost of
compliance with laws and governmental regulations; the cost of any capital improvements made to or capital assets acquired for the Building by Landlord that reduce any other operating expenses, are reasonably necessary for the health and safety of
the occupants of the Building, or are made to the Building by Landlord after the Commencement Date that are required under any governmental law or regulation, such costs to be amortized over their useful life as reasonably determined by Landlord in
accordance with generally accepted accounting principles, together with interest on the unamortized balance at the reference rate charged by the Bank of America, San Francisco main office, at the time such costs are incurred plus 2% per annum.

 For the purposes of this Lease, Operating Expenses shall not include taxes covered under subparagraph 5.3 below, interest
expenses, costs attributable to seeking and obtaining new tenants as well as retaining existing tenants, such as advertising costs, leasing commissions, architectural, engineering, attorneys’ fees, renovations and improvements, depreciation on
the Building itself, the cost of capital expenditures except as provided above, costs attributable to enforcing leases against tenants, depreciation and amortization of debt, costs incurred due to violations by the Landlord of terms of leases in the
Building, interest on mortgages and rent under any ground lease, repairs and other work to the extent that Landlord is reimbursed by insurance, fines or penalties due to violations by Landlord of government rules, costs for paintings and other
objects of art, wages, salaries or other consideration paid to executive employees of Landlord above the grade of Building Manager, management fees in excess of three percent (3%) of the Building’s gross revenues, amounts paid to Landlord
or to subsidiaries or affiliates of Landlord for goods and/or services in the Building to the extent the same exceeds the costs of such goods and/or services rendered by unaffiliated third parties on a competitive basis, removal of Hazardous
Material from the 

  
 – 4
– 

 
Premises or property, costs arising from the gross negligence or willful misconduct of Landlord or its agents, employees, vendors, contractors or providers of materials or services or costs
attributable to repairing items to the extent covered by warranties or insurance. 
 (c) Calculation.
Tenant’s proportionate share shall be based upon a fraction, the numerator of which shall be the number of rentable square feet in the Premises and the denominator of which shall be the total number of rentable square feet of the Building.
Landlord represents and warrants that the total number of rentable square feet in the Building is 114,268, and, accordingly, Tenant’s proportionate share of the Operating Expenses as of the Commencement Date shall be 6.91%. 

5.3 Adjustment for Taxes. Tenant shall pay to Landlord an amount equal to its proportionate share (as determined pursuant
to Section 5.2(c) above) of any increase in Direct Taxes paid or incurred by Landlord in any tax year above the Direct Taxes paid or incurred by Landlord during the Base Year. Landlord shall pass through the cost of increases in Direct Taxes
payable in installments in a manner such that the payments are attributable to respective years in a consistent manner. The term “Direct Taxes” as used herein shall include all real property taxes on the Building, the land on which the
Building is situated, and the various estates in the Building and the land, including, but not limited to, all taxes payable by Landlord by reason of its ownership of the Building and the leases (other than net income taxes) whether or not now
customary or within the contemplation of the parties hereto, all real estate taxes or personal property taxes and other taxes, charges and assessments which are levied solely with respect to the Building and any improvements, fixtures and equipment
and all other property of Landlord, real or personal, located in the Building used in connection with the operation of the Building and the land upon which they are situated, and shall also include any taxes which shall be in lieu of real estate or
personal property taxes. Tenant shall not be required to pay any municipal, county, state or federal income or franchise taxes of Landlord, or any succession, inheritance or transfer taxes of Landlord. If at any time after execution of
this Lease and during the term the laws concerning the methods of real property taxation prevailing at the Commencement Date are changed so that a tax or excise on rents or any other such tax, however described, is levied or assessed against
Landlord as a direct substitution in whole or in part for any real property taxes, tenant shall pay before delinquency (but only to the extent that it can be ascertained that there has been a substitution and that as a result Tenant has been
relieved from the payment of real property taxes it 

  
 – 5
– 

 
would otherwise have been obligated to pay) the substitute tax or excise on rents. “Direct Taxes” shall include the reasonable cost to Landlord of contesting the amount or validity
or applicability of any of the above-mentioned taxes. Net recoveries through protest, appeals or other actions taken by Landlord in its discretion, after deduction of all reasonable costs and expenses, including attorneys and other fees, shall
be deducted from Direct Taxes for the year of receipt. In no event shall taxes include any penalty or interest for the late payment by Landlord of taxes. Landlord shall provide Tenant with a receipted copy of the tax bill upon Tenant’s written
request. 
 5.4 Payment. Within a reasonable time after the end of each calendar year, Landlord shall compute the
amount of Additional Rent payable by Tenant, if any, for the prior year and deliver to Tenant a statement (the “Reconciliation Statement”) setting forth the calculation of Operating Expenses and Direct Taxes and Tenant’s proportionate
share of increases in the same for the previous calendar year over the amount of Operating Expenses and Direct Taxes incurred by Landlord for the Base Year. If the amount previously paid by Tenant for such calendar year is less than the amount of
Tenant’s proportionate share as set forth in the Reconciliation Statement, Tenant shall pay the amount of any deficiency at the time the next monthly Base Rent payment is due (or within 30 days if no additional Base Rent payments are due). If
the amount previously paid by Tenant for such calendar year is greater than the amount of Tenant’s proportionate share as set forth in the Reconciliation Statement, the amount of any overpayment shall be offset against the next monthly Base
Rent payment (or refunded to Tenant within thirty (30) days if no additional Base Rent payments are due). In addition, Tenant shall pay monthly with the Base Rent an amount equal to 1/12 of Landlord’s estimate of Tenant’s
proportionate share of the increases in Operating Expenses and Direct Taxes to be paid by Tenant for the then current calendar year over the amount of Operating Expenses and Direct Taxes incurred by Landlord during the Base Year (an
“Additional Rent Estimate”) if Landlord has delivered to Tenant an Additional Rent Estimate for such calendar year. Tenant shall pay to Landlord the aggregate sum of any underpayments of Tenant’s proportionate share of
Operating Expenses and Direct Taxes for that portion of such calendar year prior to the delivery of the Additional Rent Estimate, based on the Additional Rent Estimate, at the time the next monthly Base Rent payment is due. If Landlord has not
delivered to Tenant an Additional Rent Estimate for such calendar year, Tenant shall continue to pay the same monthly amount that Tenant paid for Operating Expenses and Direct Taxes during the preceding calendar year. Landlord’s failure to
furnish the Reconciliation Statement in a timely manner for any calendar year shall not prejudice Landlord in enforcing its rights under this 

  
 – 6
– 

 
Section 5. The provisions of this Section 5 shall survive the expiration or earlier termination of the term of this Lease for a period of One (1) year. 

5.5 Audit Rights. For a period of one hundred twenty (120) days after the delivery to Tenant of the Reconciliation
Statement, Tenant shall have the right to audit Landlord’s books with respect to Operating Expenses and Direct Taxes incurred during the base year and the applicable calendar year, upon ten (10) business days’ prior written notice to
Landlord (which notice may be given at any time within said 120 day period). Such audit shall be made at Landlord’s offices during normal business hours. During such inspection, Landlord will make such books and records and any reasonably
appropriate supporting documentation available for Tenant’s review. Tenant shall not disclose audit results to any other person (Tenants’ employees and agents excluded). In no event shall any such audit or inspection be performed by a
person or entity being compensated on a contingency fee basis or based upon a share of any refund obtained by Tenant. In the event that the audit and inspection reveals an error in the calculation of Operating Expenses or Direct Taxes, Tenant agrees
to deliver to Landlord, within thirty (30) days after conclusion of each such audit and inspection, a true and complete copy of the results thereof. In the event that the audit and inspection reveals an error in the calculation of Operating
Expenses or Direct Taxes, and Landlord does not dispute the results of such audit and inspection by giving Tenant written notice of Landlord’s dispute within ten (10) days after Landlord’s receipt of the results thereof, then
adjustment will be made by appropriate payment or refund within fifteen (15) days after such audit and inspection results are delivered to Landlord. If Landlord timely disputes the results of any audit and inspection, Landlord and Tenant shall
mutually designate a disinterested certified public accountant (the “CPA”) located in San Francisco, California, to conduct an audit of the Operating Expenses and Direct Taxes for the applicable calendar year, and the results of such audit
shall be binding upon Landlord and Tenant and any underpayment or overpayment shall be made within fifteen (15) days after both parties have received a copy of the results of such audit. The cost of the CPA shall be paid one-half by Landlord
and one-half by Tenant. 
  

	6.	Construction on Premises: 

 6.1 Condition of Premises. Tenant acknowledges that it has thoroughly inspected the Premises and except as set forth herein accepts the Premises “as is.” Except as set forth
herein, Landlord makes no warranty whatsoever with respect to the condition of the Premises or that any utility services provided to the Premises are in form or amount suitable for Tenant’s use.

  
 – 7
– 

 6.2 Construction. The construction obligations of the parties with respect to
the initial Tenant Improvements are set forth in the work letter attached as Exhibit B (the “Work Letter”). 
 6.3 Cost of Construction. Except as provided in the Work Letter, all cost of construction shall be borne by Tenant. Construction costs shall include all direct and indirect costs of
construction including, without limitation, permits, contractors’ fees, materials, architects’ fees, utilities’ fees and charges, any additional air conditioning capacity, all costs of complying with Code as it relates to the
Premises, and all other costs associated with improving the Premises from their present state or making any other change or improvement to the Building or its services required by Tenant’s use or improvements.

 

	7.	USES: 

 The
Premises shall be used solely for general office purposes (and uses incidental and ancillary thereto) and for no other use or purpose without the prior written consent of Landlord. Tenant shall not do or suffer anything to be done in or about
the Premises, nor shall Tenant bring or allow anything to be brought into the Premises, which will in any way increase the rate of any fire insurance or other insurance upon the Building or its contents, cause a cancellation of said insurance or
otherwise affect said insurance in any manner. Tenant also shall not do or suffer anything to be done in or about the Premises which will in any way obstruct or interfere with the rights of other occupants of the Building or injure or
unreasonably annoy said occupants, nor shall Tenant use or suffer the Premises to be used for any immoral, unlawful or objectionable purposes. In no event shall Tenant cause or suffer to be caused any nuisance in or about the Premises, and no
loudspeakers or similar devices shall be used without the prior written approval of Landlord. Tenant further agrees not to commit or suffer to be committed any waste in or upon the Premises. Tenant shall not bring, store, deposit or use
any Hazardous Material (as defined herein) on the Premises, nor shall Tenant allow or permit its agents, employees, or contractors to bring, store, deposit or use any Hazardous Material on the Premises, except incidental quantities of household
chemicals commonly used for office and janitorial purposes. “Hazardous Material” as used herein shall mean any hazardous, toxic or radioactive substance now or hereafter regulated by federal, state or local governmental or other authority,
including, but not limited to, any “hazardous substance” as defined in Section 101 of the Comprehensive Environmental Response, Compensation and Liability Act. The provisions of this paragraph are for the benefit of Landlord only
and shall not 

  
 – 8
– 

 
be construed to be for the benefit of any other tenant or occupant of the Building. Landlord represents that to the best of his knowledge there are no Hazardous Materials in, on, about,
under or emanating from the Premises or the property that would prohibit Tenant’s use of the Premises for commercial purposes as described herein. In the event that there are any such Hazardous Materials, Landlord shall at his expense be
responsible for the remediation or handling thereof as required in accordance with applicable laws. Tenant shall have access to and the right to use the Premises at all times, twenty-four (24) hours per day and three hundred sixty-five
(365) days per year during the term of this Lease, subject to Landlord’s rules and regulations, the Building security procedures and the other provisions of this Lease. 

 

	8.	SERVICES AND UTILITIES: 

 8.1 Landlord’s Obligation to Furnish. Subject to the provisions elsewhere herein contained and to the rules and regulations of the Building, Landlord agrees to furnish the Premises with
(i) water and electricity for customary office use; and (ii) HVAC Monday through Friday 8:00 a.m. through 6:00 p.m. (excepting the following holidays: New Year’s Day, Martin Luther King Day, President’s Day, Memorial Day,
4th of July, Labor Day, Thanksgiving, day-after Thanksgiving, and Christmas) in an amount reasonably required in Landlord’s judgment for the comfortable occupation of the Premises. The HVAC system for the Premises shall maintain indoor air
temperatures between 68 and 75 degrees under normal weather conditions; provided, however, that Landlord shall be in breach of the foregoing only if the temperature in the Premises is not within the stipulated range for more than five
(5) consecutive days and Landlord’s obligation to provide such HVAC is subject to Section 8.3 below. Landlord shall also provide daily janitorial service (five nights a week) during the times and in the manner that such services are,
in Landlord’s judgment, customarily furnished in comparable office buildings in the area; provided that the scope of such services shall be reasonably consistent with the scope of services attached hereto as Exhibit C. Tenant shall be
responsible for its telephone, internet and other telecommunication services. 
 8.2 Payment. In the event any
Building services or utilities are used in excess of the above by reason of longer hours, more days, or use different than other general office tenants of the Building (with the parties acknowledging that a dedicated computer room, as opposed to an
IT closet used by office tenants generally, is a different use), Tenant shall pay monthly for such upon presentation of invoice. The parties acknowledge that the after-hours HVAC charge as of the date of this Lease is $45 per hour. To the
extent Tenant’s additional use is excessive and 

  
 – 9
– 

 
Landlord installs a meter to measure such use, then Tenant shall pay to Landlord the cost of any meters and their installation and maintenance, any additional cost incurred by Landlord in
accounting for the resources consumed, and for the amount of the additional resources consumed at the rates charged by the local public utility or agency furnishing the same. Any sums payable under this paragraph shall be considered additional
rent and may be added to any installment of rent thereafter becoming due, and Landlord shall have the same remedies for a default in payment of such sum as for a default in the payment of rent. For the avoidance of doubt, the parties confirm
that Tenant shall not be required to pay for electricity to the Premises, except to the extent set forth in Section 5.2 above and this Section 8.2, it being the intention that electricity to the Premises is included in the definition of
Operating Expenses. 
 8.3 Interruptions. Landlord shall use reasonable efforts to remedy any interruption in the
furnishing of the services and utilities to be provided by Landlord. However, Landlord shall not be liable for any failure to provide or any reduction in any of said services or utilities if such failure or reduction is caused by the making of
repairs or improvements to the Premises or to the Building, the installation of equipment, Acts of God or the elements, labor disturbances of any character, acts of terrorism or any other accidents or conditions whatsoever beyond the reasonable
control of Landlord, or rationing or restrictions on the use of said services and utilities due to energy shortages or other causes, whether or not any of the above result from acts or omissions of Landlord. Furthermore, Landlord shall be
entitled to cooperate voluntarily in a reasonable manner with the efforts of national, state or local governmental bodies or utilities suppliers in reducing energy or other resources consumption.

 

	9.	TAXES PAYABLE BY TENANT: 

 To the extent not included as Direct Taxes, Tenant shall pay before delinquency any and all taxes levied or assessed and which become payable by Landlord (or Tenant) after execution of and during the term
of this Lease (excluding, however, state and federal personal or corporate income taxes measured by the income of Landlord from all sources, capital stock taxes, and estate and inheritance taxes), whether or not now customary or within the
contemplation of the parties hereto, which are based upon, measured by or otherwise calculated with respect to: (a) the gross or net rental income of Landlord under this Lease, including, without limitation, any gross receipts tax levied by any
taxing authority, or any other gross income tax or excise tax levied by any taxing authority with respect to the receipt of the rental payable hereunder; (b) the value of Tenant’s equipment,

  
 – 10
– 

 
furniture, fixtures or other personal property located in the Premises; (c) the possession, lease, operation, management, maintenance, alteration, repair, use or occupancy by Tenant of the
Premises or any portion thereof; (d) the value of any leasehold improvements, alterations or additions made in or to the Premises regardless of whether title to such improvements, alterations or additions shall be in Tenant or Landlord; or
(e) this transaction or any document to which Tenant is a party creating or transferring an interest or an estate in the Premises.
  

	10.	COMPLIANCE WITH LAW: 

 Tenant shall not do or suffer anything to be done in or about the Premises which will in any way conflict with any law, statute, ordinance or other governmental rule, regulation or requirement now in
force or which may hereafter be enacted or promulgated. At its sole cost and expense, Tenant shall promptly comply with all said governmental measures and also with the requirements of any board of fire underwriters or other similar body now or
hereafter constituted to deal with the condition, use or occupancy of the Premises, excluding structural changes not related to or affected by Tenant’s alterations, additions or improvements. The judgment of any court of competent
jurisdiction or the admission of Tenant in any judicial action, regardless of whether Landlord is a party thereto, that Tenant has violated any of said governmental measures or requirements shall be conclusive of that fact as between Landlord and
Tenant. Notwithstanding the foregoing or any other provision of this Lease to the contrary (other than Additional Rent payable under Section 5), Tenant shall not be responsible for compliance with any such laws, regulations, or the like
requiring (a) structural repairs or modifications; or (b) repairs or modifications to the utility or building service equipment (or the installation of new utility or building service equipment); unless such repairs, modifications, or
installations shall (i) be due to Tenant’s particular manner of use of the Premises (as opposed to office use generally), including, without limitation, the installation of a computer room requiring supplemental cooling, or (ii) be
due to the negligence or willful misconduct of Tenant or any agent, employee, or contractor of Tenant. 
  

	11.	ALTERATIONS: 

Other than the construction specified in paragraph 6.2 and non-structural alterations costing less than $5,000, Tenant shall not make or
suffer to be made any alterations, additions or improvements to the Premises or any part thereof, including the attachment of any fixtures or equipment, without obtaining Landlord’s prior written consent, which consent shall not be

  
 – 11
– 

 
unreasonably withheld. When applying for such consent, Tenant shall furnish complete plans and specifications for such alterations, additions or improvements. All alterations,
additions, fixtures and improvements, whether temporary or permanent in character, made in or upon the Premises either by Landlord or Tenant, shall at once become part of the realty and belong to Landlord and, at the end of the term hereof, shall
remain on the Premises without compensation of any kind to Tenant except as herein provided in this Lease. Movable furniture and equipment shall remain the property of Tenant. Notwithstanding any other provision contained in this Lease,
Tenant agrees that it shall, upon Landlord’s written request, at its sole cost and expense, promptly remove any alterations, additions, fixtures, communication system or other cabling, or improvements designated by Landlord to be removed and
repair any damage to the Premises resulting from such removal. Such removal shall be made prior to the expiration or termination of this Lease if Landlord gives Tenant such written request no less than thirty (30) days prior to the
expiration or termination of this Lease, provided that if Tenant requests that Landlord make the determination as to whether or not Landlord will require removal of certain improvements at the time of Tenant’s installation of such improvements,
then Landlord will make such determination at the time requested by Tenant. All work done by or for Tenant costing in excess of $5,000 per set of improvements shall be performed by a licensed general contractor who, if the cost of the work
exceeds $10,000, shall provide a full payment and performance bond naming both Landlord and Tenant as insured. Tenant shall not be required to remove the initial Tenant Improvements installed pursuant to the Work Letter. 

 

	12.	REPAIR: 

 By taking
possession of the Premises, except as otherwise set forth herein, Tenant accepts the Premises as being in the condition in which Landlord is obligated to deliver them. Tenant shall at all times during the term of this Lease, at its sole cost
and expense, keep the Premises in good and sanitary order, condition and repair, damage thereto by fire, earthquake, Act of God or the elements excepted, including, without limitation, all built in dishwashers, refrigerators, microwaves and other
appliances. To the extent allowed by law, Tenant hereby waives all benefits of and rights under California Civil Code Sections 1932(1), 1941 and 1942 and under any similar law, statute, or ordinance now or hereafter in effect. Upon the
expiration or sooner termination of this Lease, Tenant shall surrender the Premises to Landlord, together with all alterations, additions, fixtures, improvements and repairs which have been made thereto, in the same condition as delivered, ordinary
wear and tear and damage by fire, earthquake, Act of God or the elements 

  
 – 12
– 

 
excepted. Except as otherwise set forth herein, Landlord has no obligation to alter, add to, improve, repair, remodel or paint the Premises. Tenant also acknowledges that Landlord has made
no representations regarding the condition of the Premises or the Building except as otherwise set forth herein, provided below and, without limiting the generality of the foregoing, Tenant acknowledges that Landlord has made and is making no
representation or warranty, either expressed or implied with respect to sound transfer for any reason. Landlord represents and warrants to the best of its knowledge that (i) the HVAC, electrical, plumbing, life-safety, and mechanical systems
serving the Premises are operational and in good condition and repair (based on comparable buildings in the San Francisco downtown office market) as of the delivery of possession of the Premises to Tenant; (ii) the Premises are in compliance
with all applicable laws as required and interpreted by the City and County of San Francisco as of the delivery of possession of the Premises to Tenant, including, without limitation, fire and life safety requirements, the Americans with
Disabilities Act, Title 24, seismic, construction and building codes; and (iii) the Building’s foundation, floor slabs, roof, exterior walls, structural columns, and common areas are in good condition and repair as of the delivery of
possession of the Premises to Tenant. Landlord shall cause to be maintained and repaired in good order and condition (based on comparable buildings in the San Francisco downtown office market) (i) the Building’s foundation, floor slabs,
roof, exterior walls, and structural columns, (ii) the Building’s systems outside of the Premises (including, without limitation, the elevator, HVAC, electrical, plumbing, life-safety, and mechanical systems), and (iii) the common
areas. Landlord shall be responsible at no cost to Tenant (after actual knowledge or notice of any violation thereof from any governmental authority) for causing the Premises to be in compliance with all applicable laws as required and interpreted
by the City and County of San Francisco as of the delivery of possession of the Premises to Tenant. 
  

	13.	LIENS: 

 Tenant
shall not permit any mechanics’, materialmen’s or other liens to be filed against the real property of which the Premises form a part nor against the Tenant’s leasehold interest in the Premises, and, to the extent the same are filed,
Tenant shall cause the same to be discharged or bonded over within five (5) business days after Tenant is notified of such filing. The Landlord shall have the right at all reasonable times to post and keep posted on the Premises any
notices which it deems necessary for protection from such liens and Tenant shall give Landlord at least ten (10) days’ prior notice of the date of commencement of any construction on the Premises in order to permit the posting

  
 – 13
– 

 
of such notices. If any such liens are filed, Landlord may, after such 5 business day period, without waiving its rights and remedies based on such breach by Tenant and without releasing
Tenant from any obligations, cause such liens to be released by any means it deems proper, including payment in satisfaction of the claim giving rise to such lien. Tenant shall pay to Landlord at once, without notice or demand, any sum paid by
Landlord to remove such liens together with Landlord’s costs and attorneys’ fees and interest at the rate of ten percent (10%) per annum from the date of payment.

 

	14.	INDEMNIFICATION: 

To the fullest extent permitted by law, Tenant hereby assumes all risks and waives all claims against Landlord for any damage to any
tangible or intangible property (including the resulting loss of use, economic losses and consequential or resulting damages of any kind from any cause) or any injury to or death of any person in or about the Premises or the Building arising at any
time and from any cause whatsoever other than solely by reason of the gross negligence or willful act of Landlord, or its agents, or employees or contractors. Notwithstanding Landlord’s negligence or breach of this Lease, Landlord shall
under no circumstances be liable for injury to Tenant’s business or for any loss of income or profit therefrom. Tenant shall indemnify, defend and hold Landlord harmless against all claims or liability for any injury or damage to any
person or property whatsoever: (a) occurring in, on, or about the Premises or any part thereof; and (b) occurring in, on, or about any facilities (including without limitation to the generality of the term “facilities”,
elevators, stairways, passageways or hallways) the use of which Tenant may have in conjunction with other tenants of the Building, when such injury or damage shall be caused in part or in whole by the act, neglect, fault of, or omission of any duty
with respect to the same, by Tenant, its agents, servants, employees or invitees. Tenant further agrees to indemnify, defend and hold Landlord harmless against and from any and all claims: (a) by or on behalf of any person, firm or
corporation, arising from the conduct or management of any work or thing whatsoever done by the Tenant in or about or from transactions of the Tenant concerning the Premises; (b) arising from any breach or default on the part of Tenant in the
performance of any covenant or agreement on the part of the Tenant to be performed pursuant to the terms of this Lease, including, without limitation, compliance with the Building rules and regulations; or (c) arising from any act or negligence
of the Tenant, or any of its agents, contractors, servants, employees or licensees. The foregoing indemnifications include all costs, attorney’s fees, expenses and liabilities incurred in connection with any such claim or action or proceeding
brought thereon.

  
 – 14
– 

 
Furthermore, in case any action or proceeding is brought against Landlord by reason of any such claims or liability, Tenant agrees to defend such action or proceeding at Tenant’s sole
expense. The provisions of this paragraph shall survive the expiration or termination of this Lease with respect to any claims or liability arising prior to such expiration or termination.

 

	15.	INSURANCE: 

 Tenant
shall purchase at its own expense and keep in force during the term of this Lease a policy of commercial general liability insurance against claims for bodily injury, personal and advertising injury and property damage arising out of or relating
(directly or indirectly) to Tenant’s business operations, conduct or use or occupancy of the Premises or the Building. Such insurance shall be on an occurrence basis providing single limit coverage of not less than $2,000,000 per occurrence
with an annual aggregate of not less than $2,000,000. Tenant may satisfy the foregoing requirement with the combination of a $1,000,000 primary policy and a $5,000,000 or more umbrella policy. The limits of said policy shall not limit the
liability of Tenant nor relieve Tenant of any obligation hereunder. Said policy shall: (a) name by endorsement Landlord as an additional insured, with such endorsement to be on such form and with such modifications as Landlord may require;
(b) be issued by an insurance company which is reasonably acceptable to Landlord and licensed to do business in the State of California; (c) have deductibles no larger than those typically carried by similarly situated tenants; and
(d) provide that said insurance shall not be canceled unless ten (10) days’ prior written notice shall have been given to Landlord. Said policy or certificates thereof shall be delivered to Landlord by Tenant upon commencement of
the term of this Lease and upon each renewal of said insurance. No more often than every three years, Landlord may require Tenant to reasonably increase the amount of such coverage if, in Landlord’s opinion, the amount of such coverage is
no longer equal to the coverages carried by tenants in comparable office buildings in the San Francisco downtown office market.

Landlord shall maintain throughout the term of this Lease a policy of insurance upon the Building insuring against such risks and in such
amounts as Landlord deems appropriate in his reasonable discretion. Landlord may, but shall not be required to, carry earthquake insurance on the Building. 
  

	16.	SUBROGATION: 

Landlord and Tenant hereby waive any right that each may have against the other on account of any loss or damage arising in any manner
which is covered by policies of insurance for fire 

  
 – 15
– 

 
and extended coverage, theft, public liability, workmen’s compensation or other insurance now or hereafter existing during the term hereof. The parties each agree to use their
reasonable best efforts to have their respective insurance companies waive any rights of subrogation that such companies may have against Landlord or Tenant, as the case may be.

 

	17.	ASSIGNMENT AND SUBLETTING: 

 Tenant shall not Transfer this Lease without the prior written consent of Landlord, which consent shall not be unreasonably withheld. A Transfer consists of any of the following: (i) any
assignment, encumbrance, mortgage or other transfer, whether by operation of law or otherwise, of this Lease or any interest herein; (ii) any sublease of the Premises or any part thereof, or permitting any other person to occupy or use the
Premises or any portion thereof; or (iii) any sale or other transfer, including by consolidation, merger or reorganization, of a majority of the capital stock, partnership interests or membership interests of Tenant (if Tenant is a corporation,
partnership or limited liability company, respectively), at any time in the aggregate during the term of this Lease. Notwithstanding the foregoing or anything contained herein to the contrary, in no event shall the transfer of Tenant’s shares
on a nationally recognized stock exchange be deemed to be a Transfer. Any person to whom any Transfer is made or sought to be made is a “Transferee.” Any Transfer by Tenant shall not result in Tenant being released or discharged from any
liability under this Lease. As a condition to Landlord’s prior written consent as provided for in this paragraph, the Transferee shall agree in writing to comply with and be bound by all of the terms, covenants, conditions, provisions and
agreements of this Lease, and Tenant shall deliver to Landlord, promptly after execution, an executed copy of each document evidencing the Transfer and an agreement of said compliance by each Transferee. Landlord’s consent to one Transfer
shall not be deemed to be a consent to any subsequent Transfer and any Transfer which does not comply with the provisions of this paragraph 17 shall be void. Tenant shall pay all costs of Transfer, including without limitation, real estate
commissions and Landlord’s reasonable attorneys fees expended in connection therewith, not to exceed $2,000 with respect to each such Transfer. 
 If Landlord consents to a Transfer, and as a condition thereto, Tenant shall pay Landlord fifty percent (50%) of any Transfer Premium, derived by Tenant from such Transfer. “Transfer
Premium” shall mean: (i) for a lease assignment, all consideration paid or payable therefor, and (ii) for a sublease, all rent, additional rent or other consideration paid by such Transferee in excess of the base rent payable by
Tenant under 

  
 – 16
– 

 
this Lease (on a monthly basis and on a per rentable square foot basis if less than all of the Premises is transferred). In any such computation, Tenant: (a) may subtract any reasonable
direct out-of-pocket costs incurred in connection with such Transfer, such as advertising costs, brokerage commissions, attorneys’ fees and leasehold improvements, amortized on a straight line basis over the remaining term of this Lease (or the
term of the sublease in the case of a sublease) and (b) shall include in the “Transfer Premium” any consideration for execution of the Transfer, including, without limitation, so-called “key money” or other bonus amount paid
by Transferee to Tenant, and any payments in excess of fair market value for services rendered by Tenant to Transferee or in excess of fair market value for assets, fixtures, inventory, equipment or furniture transferred by Tenant to Transferee.
Tenant shall pay the percentage of the Transfer Premium due Landlord within thirty (30) days after Tenant receives any Transfer Premium. As a condition to Transfer, the Transferee shall verify in writing to Landlord all consideration paid or
given or to be paid or given for such Transfer. In addition, Landlord shall have the option, in the event of any proposed assignment of the Lease or subletting of more than twenty five percent (25%) of the Premises to terminate the Lease in its
entirety as of the proposed effective date of the proposed assignment or subletting. Such option to terminate shall be exercised, if at all, by Landlord giving Tenant written notice thereof within fifteen (15) days following Landlord’s
receipt of Lessee’s written request. Following any such termination by Landlord, Landlord may lease all or some portion of the Premises to the prospective assignee or subtenant proposed by Tenant without liability to Tenant. Landlord’s
failure to exercise its termination right shall not be construed as Landlord’s consent to the proposed assignment or subletting. 

Notwithstanding any provision in this Lease to the contrary, Landlord’s consent shall not be required for, and its excess rent sharing and recapture
rights shall not apply to, but upon prior written notice to Landlord, (unless prior notice is prohibited by applicable laws, rules or regulations, in which event notice will be given to Landlord promptly following said transaction), any assignment
of the Lease or sublease of the Premises by Tenant to any of the following (an “Approved Transferee”): (1) any corporation or other entity which controls, is controlled by, or is under common control with Tenant; (2) any
corporation or other entity resulting from the merger or consolidation of Tenant; and (3) any corporation or other entity or person which acquires a controlling interest in the corporate stock of Tenant or acquires substantially all of the
assets of Tenant, provided that (a) in the case of an assignment, said assignee assumes in full the obligations of Tenant under this Lease, and (b) in the case of a sublease, at Landlord’s request following said transaction, said

  
 – 17
– 

 
subtenant will execute an agreement acceptable to Landlord, Tenant and subtenant, whereby subtenant agrees to (xx) be bound by the terms of this Lease and (yy) at Landlord’s request,
attorn to Landlord in the event of a termination of the Lease by reason of a Tenant default (in which event the sublease will become a direct lease between Landlord and subtenant and Landlord will recognize subtenant’s rights under such
sublease and not disturb subtenant’s possession of the Premises. For the purposes of this paragraph, the words “control”, “controls” and “controlled” shall mean the right and power (direct or indirect) to direct or
cause the direction of the management policies of a person or entity (corporation or otherwise) through ownership or voting securities, by contract or otherwise. Tenant’s foregoing rights to assign this Lease or sublease the Premises without
the consent of Landlord shall be subject to the following conditions: (i) Tenant shall notify Landlord of any such assignment or sublease at least ten (10) days prior thereto (unless prior notice is prohibited by applicable laws, rules or
regulations, in which event notice will be given to Landlord promptly following said transaction); (ii) in the case of an assignment, the transferee or successor entity shall assume in writing Tenant’s obligations hereunder;
(iii) Tenant shall remain liable for all obligations and liabilities of Tenant under this Lease; and (iv) in the case of an assignment, the transferee of successor entity shall have a tangible net worth which is at least equal to the
greater to the net worth of Tenant as of the date of this Lease or the net worth of Tenant immediately prior to the date of the assignment. Tenant and the proposed assignee/sublessee shall provide such documentation as may be reasonably requested by
Landlord to demonstrate to Landlord’s reasonable satisfaction that the conditions set forth above have been satisfied. 
  

	18.	RULES AND REGULATIONS: 

 Tenant shall faithfully comply with the reasonable rules and regulations, together with all modifications and additions thereto applying to the Building and other tenants thereof adopted by Landlord from
time to time in writing. Landlord shall not be responsible for the non-performance by any other tenant or occupant of the Building of any of said rules and regulations, but shall use commercially reasonable efforts to uniformly enforce the
same. In the event of a conflict between such rules and regulations and this Lease, this Lease shall control. A copy of the current rules and regulations is attached hereto as Exhibit D. Landlord hereby approves of the window
treatment described on Exhibit E. 

  
 – 18
– 

	19.	ENTRY BY LANDLORD: 

Upon reasonable prior notice (not less than 24 hours), or in an emergency without notice, Landlord shall have the right to enter the
Premises: (a) to inspect them, (b) to supply any service provided to Tenant hereunder, (c) to show the Premises to prospective purchasers, lenders or tenants (but such right with respect to tenants shall only be permitted during the
last 9 months of the term), (d) to post notices of nonresponsibility, (e) to alter, improve or repair the Premises and any portion of the Building, and (f) to erect scaffolding and other necessary structures outside of the Premises,
where required by the work to be performed, all without reduction of rent. In connection with any such entry, Landlord shall use commercially reasonable efforts not to unreasonably interfere with the conduct of Tenant’s business on the
Premises. Tenant hereby waives any claims for damages for any injury to or interference with Tenant’s business or quiet enjoyment of the Premises or any other loss occasioned by such entry provided that Landlord shall use commercially
reasonable efforts not to unreasonably interfere with the conduct of Tenant’s business on the Premises. Landlord shall at all times have a key to unlock all of the doors in and about the Premises, excluding Tenant’s vaults and safes,
and Landlord shall have the right to use any means which Landlord deems proper to open said doors in any emergency, and any such entry to the Premises shall not under any circumstances be construed or deemed to be a forcible or unlawful entry into
the Premises or a detainer of the Premises or an eviction of Tenant from any portion of the Premises.
  

	20.	INSOLVENCY OR BANKRUPTCY: 

 The appointment of a receiver to take possession of all or substantially all of the assets of Tenant, or any assignment by Tenant for the benefit of creditors, or any action taken or suffered by Tenant
under any insolvency, bankruptcy, or reorganization act, shall at Landlord’s option constitute a breach of this Lease by Tenant if not released within 90 days. On the happening of any such event or at any time thereafter this Lease shall
terminate five days after written notice of termination from Landlord to Tenant. In no event shall this Lease be assigned or assignable by operation of law or by voluntary or involuntary bankruptcy proceedings or otherwise and in no event shall
this Lease or any rights or privileges hereunder be an asset of Tenant under any bankruptcy, insolvency, or reorganization proceedings. In the event that any provisions of this paragraph are not enforceable as a matter of law, Landlord shall
retain its rights under paragraph 17 above.
  

	21.	DEFAULT: 

 The
failure to perform or honor each covenant, condition and representation made under this Lease shall constitute a default 

  
 – 19
– 

 
hereunder by Tenant upon expiration of the appropriate grace period hereinafter provided. Tenant shall have a period of five (5) business days from the date of written notice from
Landlord within which to cure any default in the payment of rental or adjustment thereto or any other sums hereunder. Tenant shall have a period of thirty (30) days, after written notice from Landlord within which to cure any other default
under this Lease; provided, however, that with respect to defaults which cannot be reasonably cured within thirty (30) days, the default shall not be deemed to be uncured if Tenant commences to cure within thirty (30) days from
Landlord’s notice and continues to prosecute diligently the curing thereof. Said written notices shall constitute those required under CCP § 1161 et seq. Acceptance of a payment which is less than the amount then
due shall not be a waiver of Landlord’s rights to the balance of such rent, regardless of Landlord’s endorsement of any check so stating. Upon an uncured default of this Lease by Tenant, Landlord shall have the following rights and
remedies in addition to any other rights or remedies available to Landlord at law or in equity: 
 (a) The rights and remedies
provided by California Civil Code Section 1951.2, including but not limited to, recovery of the worth at the time of award of the amount by which the unpaid rent for the balance of the term after the time of award exceeds the amount of rental
loss for the same period that the Tenant proves could be reasonably avoided, as computed pursuant to Section 1951.2(b); 

(b) The rights and remedies provided by California Civil Code Section 1951.4 (Landlord may continue the lease in effect after
Tenant’s breach and abandonment and recover rent as it becomes due, if Tenant has right to sublet or assign, subject only to reasonable limitations). Acts of maintenance or preservation, efforts to relet the Premises, or the appointment of a
receiver upon Landlord’s initiative to protect its interest under this Lease shall not constitute a termination of Tenant’s right to possession. At the option of Landlord, rents received from any such subletting shall be applied first, to
payment of any indebtedness other than rent due hereunder, from Tenant to Landlord; second, to the payment of any costs of such subletting and of such alterations and repairs; third, to payment of rent due and unpaid hereunder; and the residue, if
any, shall be held by Landlord and applied in payment of future rent as the same becomes due hereunder. No taking possession of the Premises by Landlord shall be construed as an election on its part to terminate this Lease unless a written notice of
such intention be given to Tenant. Notwithstanding any such subletting without termination, Landlord may at any time thereafter elect to terminate this Lease for such previous breach; 

  
 – 20
– 

 (c) The right to terminate this Lease by giving notice to Tenant in accordance with
applicable law; 
 (d) The right and power to enter the Premises and remove therefrom all persons and property, to store such
property in a public warehouse or elsewhere at the cost of and for the account of Tenant, and to sell such property and apply the proceeds therefrom pursuant to applicable California law. ; and 

(e) The right to have a receiver appointed for Tenant, upon application by Landlord, to take possession of the Premises and to apply any
rental collected from the Premises.
 (f) All sums due from Tenant to Landlord not paid when due shall bear interest at ten
(10%) percent per annum.
 Landlord shall be deemed to be in default of this Lease if Landlord fails to make any payments
to Tenant required under this Lease and such failure continues for ten (10) days after written notice from Tenant to Landlord, or if Landlord shall be in default in the performance of any other of its covenants or agreements contained in this
Lease and such default in performance continues for more than thirty (30) days after written notice thereof from Tenant to Landlord specifying the particulars of such default or breach of performance; provided, however, that if the default
complained of, other than for the payment of monies, is of such a nature that the same cannot be rectified or cured within such thirty (30) day period, then such default shall be deemed to be rectified or cured if Landlord, within such thirty
(30) day period, shall have commenced such cure and shall continue thereafter with diligence to cause such cure to be completed. Upon any default of this Lease by Landlord, Tenant shall be entitled to pursue any and all remedies available to
Tenant at law or in equity. 
  

	22.	LANDLORD’S RIGHT TO CURE DEFAULT: 

 All covenants and agreements to be kept or performed by Tenant under the terms of this Lease shall be performed by Tenant at Tenant’s sole cost and expense and without any reduction of rent. If
Tenant shall be in default on its obligations under this Lease to pay any sum of money other than payment of rent or perform any other act hereunder, and if such default is not cured within the applicable grace period provided in paragraph 21
hereof, Landlord may, but shall not be obligated to, make such payment or perform any such act on Tenant’s part without waiving its right based upon default of Tenant and without releasing Tenant from any obligations hereunder. All sums so
paid by Landlord and all incidental costs, together with interest thereon at the rate of ten percent (10%) per annum from the date of such 

  
 – 21
– 

 
payment or the incurrence of such cost by Landlord, whichever occurs first, shall be paid to Landlord on demand. In the event of nonpayment by Tenant, Landlord shall have, in addition to any
other rights or remedies hereunder, the same rights and remedies as in the case of default.
  

	23.	DAMAGE BY FIRE OR CASUALTY: 

 23.1 Partial Damage – Insured. In the event the Premises or the Building are damaged by any casualty which is covered under fire and extended coverage insurance carried by Landlord,
then Landlord shall restore such damage provided insurance proceeds are available to pay eighty percent (80%) or more of the cost of restoration and provided such restoration can be completed within sixty (60) days after the commencement
of the work in the opinion of a registered architect or engineer appointed by Landlord. In such event this Lease shall continue in full force and effect, except that Tenant shall be entitled to proportionate reduction of rent while such
restoration takes place, such proportionate reduction to be based upon the extent to which the restoration efforts interfere with Tenant’s business in the Premises.
 23.2 Partial Damage – Uninsured. In the event the Premises or the Building are damaged by a risk not covered by Landlord’s insurance or the proceeds of available insurance are less
than eighty (80%) of the cost of restoration, or if the restoration cannot be completed within sixty (60) days after the commencement of work in the opinion of the registered architect or engineer appointed by Landlord, then Landlord shall
have the option either to (1) repair or restore such damage, this Lease continuing in full force and effect, but the rent to be proportionately abated as hereinabove provided, or (2) give notice to Tenant at any time within thirty
(30) days after such damage terminating this Lease as of a date to be specified in such notice, which date shall be not less than thirty (30) nor more than sixty (60) days after giving such notice. In the event of the giving of
such notice, this Lease shall expire and all interest of Tenant in the Premises shall terminate on such date so specified in such notice and the rent, reduced by any proportionate reduction based upon the extent, if any, to which said damage
interfered with the use and occupancy of Tenant, shall be paid to the date of such termination; Landlord agrees to refund to the Tenant any rent theretofore paid in advance for any period of time subsequent to such date.

23.3 Total Destruction. In the event the Premises are totally destroyed or the Premises cannot be restored as required
herein under applicable laws and regulations, notwithstanding the availability of insurance proceeds, this Lease shall be terminated effective the date of the damage.

  
 – 22
– 

 23.4 Damage Near End of the Term. Notwithstanding anything to the contrary
contained in this Section 23, Landlord shall not have any obligation whatsoever to repair, reconstruct or restore the Premises when the damage resulting from any casualty covered under this Section 23 occurs during the last twelve
(12) months of the term of this Lease or any extension thereof.
 23.5 Landlord’s Obligations. The
Landlord shall not be required to repair any injury or damage by fire or other cause or to make any restoration or replacement of any paneling, decorations, partitions, railings, floor coverings, office fixtures or any other improvements or property
installed in the Premises by Tenant or at the direct or indirect expense of Tenant. Tenant shall be required to restore or replace same in the event of damage. Except for abatement of rent, if any, Tenant shall have no claim against
Landlord for any damage suffered by reason of any such damage, destruction, repair or restoration; nor shall Tenant have the right to terminate this Lease as a result of any statutory provision now or hereafter in effect pertaining to the damage and
destruction of the Premises or the Building, except as expressly provided herein.
 23.6 Tenant Termination Right.
Notwithstanding the foregoing, if the Premises are (a) materially damaged by fire or other casualty during the last twelve (12) months of the term and not restored within 60 days after the date of such fire or casualty, or
(b) materially damaged by fire or other casualty and not restored within 180 days after the date of such fire or other casualty, then Tenant shall have the right, exercisable by notice to Landlord delivered within thirty (30) days after
the date of such fire or other casualty (with respect to clause (a) above) or within 210 days after the date of such fire or other casualty (with respect to clause (b) above), to terminate this Lease, effective as of the date of delivery
of such notice. 
  

	24.	EMINENT DOMAIN: 

If any part of the Premises shall be taken or appropriated under the power of eminent domain or conveyed in lieu thereof, either party
shall have the right to terminate this Lease at its option. If any part of the Building shall be taken or appropriated under power of eminent domain or conveyed in lieu thereof, Landlord may terminate this Lease at its option. In either of
such events, Landlord shall receive such portions of the condemnation award as the court shall allow. If a part of the Premises shall be so taken or appropriated or conveyed and neither party hereto shall elect to terminate this Lease and
the Premises have been damaged as a consequence of such partial 

  
 – 23
– 

 
taking or appropriation or conveyance, the Landlord shall restore the Premises continuing under this Lease at the Landlord’s cost and expense; provided, however, that Landlord shall not be
required to repair or restore any injury or damage to the property of Tenant or to make any repairs or restoration of any alterations, additions, fixtures or improvements installed on the Premises by or at the expense of
Tenant. Thereafter, the rent to be paid under this Lease for the remainder of its term shall be proportionately reduced, such reduction to be based upon the extent to which the partial taking or appropriation or conveyance shall interfere with
the business carried on by Tenant on the Premises. In the event of a taking, nothing contained herein shall prevent Tenant from making a claim for damages and expenses associated with the Tenant Improvements or its moving expenses. 

 

	25.	SURRENDER OF PREMISES: 

 A voluntary surrender or other surrender of this Lease by Tenant or the mutual cancellation of this Lease shall not work a merger. Any surrender or mutual cancellation of this Lease shall operate as
an automatic assignment to Landlord of any subleases or subtenancies. 
  

	26.	HOLDING OVER: 

 Any
holding over after the expiration of the term of this Lease with the written consent of Landlord shall be a tenancy from month to month upon the same terms, covenants and conditions herein, the monthly rental shall be determined by Landlord and
contained in the written consent, subject to adjustment as provided in paragraph 5 herein. Landlord may thereafter terminate such tenancy on 5 business days written notice. Acceptance by Landlord of rent after such expiration shall not
result in any other tenancy or any renewal of the term of this Lease, and the provisions of this paragraph are in addition to and do not affect Landlord’s right of re-entry or other rights provided under this Lease or by applicable
law.
 If Tenant shall retain possession of the Premises or any part thereof without Landlord’s written consent following
the expiration or sooner termination of this Lease for any reason, then Tenant shall pay to Landlord for each day of such retention 150% of the amount of the daily rental for the last period prior to the date of such expiration or
termination. Tenant shall also indemnify and hold Landlord harmless from any loss or liability resulting from delay by Tenant of more than thirty (30) days in surrendering the Premises, including, without limitation, any claims made by any
succeeding tenant founded on such delay.

  
 – 24
– 

	27.	SALE BY LANDLORD: 

In the event that Landlord sells or conveys the Premises, Landlord shall be released from any liability arising thereafter based upon any
of the terms, covenants or conditions, express or implied, which are contained in this Lease. In such event, Tenant agrees to look solely to Landlord’s successor in interest for any liability under this Lease arising after the date of such
Transfer. If any security has been given by Tenant to secure the faithful performance of any of the covenants of this Lease, Landlord shall transfer or deliver said security, as such, to Landlord’s successor in interest and thereupon
Landlord shall be discharged from any further liability with regard to said security. Except as set forth in this paragraph, this Lease shall not be affected by any sale or conveyance of the Premises by Landlord, and Tenant agrees to attorn in
writing to Landlord’s successor in interest.
  

	28.	ESTOPPEL CERTIFICATE: 

 Within fifteen (15) days after notice from Landlord, Tenant shall execute and deliver to Landlord, in recordable form, a certificate stating that this Lease is unmodified and in full force and
effect, or in full force and effect as modified, and stating the modifications. The certificate also shall state the amount of minimum monthly rent, the dates to which the rent has been paid in advance, the amount of any security deposit or
prepaid rent, the fact that to the best of Tenant’s actual knowledge there are no current defaults under the Lease by either Landlord or Tenant except as specified in such statement, and such other matters reasonably requested by
Landlord. Tenant acknowledges that any statement delivered pursuant to this paragraph may be relied upon by any mortgagee, beneficiary, purchaser or prospective purchaser of the Building or any interest therein. Failure to deliver the
certificate within said fifteen (15) days shall be conclusive upon Tenant that this Lease is in full force and effect and has not been modified except as may be represented by Landlord.

 

	29.	SUBORDINATION AND ATTORNMENT: 

 This Lease is and shall be subject and subordinate at all times to all ground or underlying leases which now exist or may hereafter be executed or amended affecting the Building or the land upon which the
Building is situated, or both, and to the lien of any mortgages or deeds of trust in any amount or amounts whatsoever which now exist or may hereafter be executed or amended on or against the land and Building or either of them, of which the
Premises are a part, or on or against Landlord’s interest or estate therein, without the necessity of the 

  
 – 25
– 

 
execution and delivery of any further instruments on the part of Tenant to effectuate such subordination. Notwithstanding the foregoing, Tenant covenants and agrees to execute and deliver
upon demand to Landlord such further instruments in recordable form evidencing such subordination of this Lease to such ground or underlying leases and to the lien of any such mortgages or deeds of trust as may be reasonably required by Landlord,
including a statement from Tenant as to any claimed offsets of Tenant. As to any mortgages, deeds of trust or ground leases hereafter executed that affect Landlord’s estate or any interest of Landlord in the real property or any part
thereof of which the Premises form a part or any renewals, modifications, replacements or extensions of existing mortgages, deeds of trust or ground leases, they shall not be effective to disturb the terms hereof or Tenant’s occupancy hereunder
so long as Tenant is not in default under the terms and conditions of this Lease. Any holder of a mortgage or deed of trust may elect to have this Lease superior to the lien of its mortgage or deed of trust by giving written notice thereof to
Tenant, whereupon this Lease shall be deemed prior to such mortgage or deed of trust notwithstanding the relative dates of the documentation or recordation thereof. Landlord shall use commercially reasonable efforts to obtain a non disturbance
agreement for the benefit of Tenant from the current holder of the deed of trust on the Property. 
 Upon the written request of
the Landlord or any mortgagee or beneficiary of Landlord, Tenant will in writing attorn to any such mortgagee or beneficiary. Said agreement of attornment shall provide, among other things, (a) that this Lease shall remain in full force
and effect, (b) that Tenant shall pay rent to said mortgagee or beneficiary from the date of said attornment, (c) that mortgagee or beneficiary shall not be responsible to Tenant under this Lease except for obligations accruing subsequent
to the date of such attornment (except for repair and maintenance obligations of a continuing nature and the payment in full of the tenant improvement allowance described in the Work Letter), and (d) that Tenant, in the event of foreclosure or
deed in lieu thereof, will enter into a new lease with the lien holder acquiring title on the same terms and conditions as the existing Lease and for the balance of the term hereof.

The provisions of this Lease may require approval by financial institutions which make the loans herein contemplated. If any such
institution should require as a condition of such financing any modification of the provisions of this Lease, Tenant will approve and execute any such modifications, provided no such modifications shall relate to the rent payable hereunder, the
length of the term or materially change the rights or obligations of Landlord or Tenant to each other.

  
 – 26
– 

	30.	WAIVER: 

 If
Landlord waives the performance of any term, covenant or condition contained in this Lease, such waiver shall not be deemed to be a waiver of the term, covenant or condition itself or a waiver of any subsequent breach of the same or any other term,
covenant or condition contained herein. Furthermore the acceptance of rent or late charge by Landlord shall not constitute a waiver of any preceding breach by Tenant of any term, covenant or condition of this Lease, regardless of
Landlord’s knowledge of such preceding breach at the time Landlord accepted such rent or late charge. Failure by Landlord to enforce any of the terms, covenants or conditions of this Lease for any length of time shall not be deemed to
waive or to decrease the right of Landlord to insist thereafter upon strict performance by Tenant. Waiver by Landlord of any term, covenant or condition contained in this Lease may only be made by a written document signed by
Landlord.
  

	31.	LANDLORD’S DEFAULT: 

 If Tenant obtains a money judgment against Landlord resulting from any default or other claim arising under this Lease, such judgment shall be satisfied only out of the rents, profits and income received
by Landlord with respect to its right, title and interest in the Building and the underlying real property. No other real, personal or mixed property of Landlord (or of any of the individuals who comprise Landlord) shall be subject to levy to
satisfy any such judgment. 
  

	32.	ATTORNEYS’ FEES: 

 In the event that any action or proceeding is brought to enforce any term, covenant or condition of this Lease on the part of Landlord or Tenant, the prevailing party in such litigation shall be entitled
to reasonable attorneys’ fees and expert fees and costs to be fixed by the Judge presiding in such action or proceeding.
  

	33.	INTENTIONALLY OMITTED 

  

	34.	NOTICES: 

 Notices
(including any notice to be served on Tenant pursuant to Code of Civil Procedure Section 1162) will be deemed to have been delivered upon the sooner of personal delivery or forty-eight (48) hours after they have been deposited with a
reputable overnight courier service (such as Federal Express), addressed to the Tenant at 1601 Trapelo Road, Waltham, 

  
 – 27
– 

 
Massachusetts 02451 Attention: Robert P. Nault Esq. with a copy to Wilmer Cutler Pickering Hale and Dorr LLP, 60 State Street, Boston, MA 02109 Attention: Paul Jakubowski, Esq. and to Landlord at
27 Maiden Lane, Suite 250, San Francisco, California 94108 and to either of them at such other places as they may from time to time designate by written notice. Either may request duplicate notices to themselves or third parties. Any deed
of trust holders shall have a reasonable opportunity (not to exceed 60 days) after receipt of each such notice in which to cure all defaults on the part of Landlord. In the event it is necessary for said first deed of trust holders to enter
upon the Premises in order to effect said cure, the right of entry shall be deemed to have been granted by this provision.
  

	35.	DEFINED TERMS AND HEADINGS: 

 The words “Landlord” and “Tenant” as used herein shall include the plural as well as the singular. Words used in masculine gender include the feminine and neuter, where
applicable. If there is more than one Tenant, the obligations imposed under this Lease upon Tenant shall be joint and several. The headings and titles to the paragraphs of this Lease are used for convenience only and shall have
no effect upon the construction or interpretation of the Lease. No party other than Landlord and Tenant and their successors and assigns shall be entitled to the benefits of this Lease: there are no third party beneficiaries to this
Lease.
  

	36.	TIME AND APPLICABLE LAW: 

 Time is of the essence of this Lease and all of its provisions. This Lease shall in all respects be governed by the laws of the State of California.

 

	37.	SUCCESSORS AND ASSIGNS: 

 Subject to the provisions of paragraph 17 hereof, the terms, covenants and conditions contained herein shall be binding upon and inure to the benefit of the heirs, successors, executors, administrators
and assigns of the parties hereto.
  

	38.	ENTIRE AGREEMENT: 

This Lease, together with its exhibits, contains all the agreements of the parties hereto and supercedes any previous
negotiations. There have been no representations made by the Landlord or understandings made between the parties other than those set forth in this Lease and its exhibits. This Lease may not be modified except by a written instrument duly
executed by the parties hereto.

  
 – 28
– 

	39.	SEVERABILITY: 

 If
any provision of this Lease or the application thereof to any person or circumstance shall be invalid or unenforceable to any extent, the remainder of this Lease and the application of such provision to other persons or circumstances shall not be
affected thereby and shall be enforced to the greatest extent permitted by law. If any payments or interest hereunder shall at any time be in violation of any California usury laws or otherwise in violation of law, they shall be reduced to an
amount equal to the maximum permitted under California law.
  

	40.	QUIET ENJOYMENT: 

Landlord agrees to and shall in the commencement of this Lease place Tenant in quiet possession of the Premises and shall secure it in the
quiet possession thereof against all persons lawfully claiming the same during the term of this Lease.
  

	41.	LIGHT AND AIR: 

Tenant covenants and agrees that no diminution of light, air or view by any structure which may hereafter be erected (whether or not by
Landlord) shall entitle Tenant to any reduction of rent under this Lease, result in any liability of Landlord to Tenant, or in any other way affect this Lease or Tenant’s obligations hereunder. 

 

	42.	OFFER: 

Preparation of this Lease by Landlord or Landlord’s agent and submission of same to Tenant shall not be deemed an offer to lease.
This Lease shall become binding upon Landlord and Tenant only when fully executed by Landlord and Tenant. 
  

	43.	OPTION TO RENEW: 

43.1. Option to Renew. Provided Tenant is not in default under the terms of this Lease beyond any applicable cure
period either at the time of exercise of this option or at commencement of the option period, Tenant shall have an option to renew this Lease for one (1) additional period of five (5) years commencing upon the expiration of the initial
term of this Lease. Said option shall be on the same terms, covenants and conditions contained herein except that the Base Rent shall be fixed in the manner set forth below. This option may be exercised only by written notice to Landlord
delivered no earlier than November 1, 2016 and no later than January 1, 2017. The Base Rent during the option period shall be the fair market rental value of the 

  
 – 29
– 

 
Premises as of the first day of the option period. “Fair market rental value” shall be established in accordance with section 43.2 below. Notwithstanding the foregoing, the Base
Rent shall not be less than the Base Rent payable immediately prior to the commencement of the option period. This option is personal to Constant Contact, Inc. and an Approved Transferee and shall be exercisable only by Constant Contact, Inc., or an
Approved Transferee and not any other assignee, sublessee or other transferee of Tenant’s interest in this Lease and only if Constant Contact, Inc. or an Approved Transferee occupies the entire Premises as of the date it exercises this option.

 43.2. Fair Market Rental Value. Fair market rental value means the rent a tenant would pay for a five
year term for the Premises based on the prevailing rent being charged to tenants for comparable space in comparable buildings for the period coinciding with the option period, taking into account all relevant factors. Fair market rental value shall
be determined in the following manner. At least ninety (90) days prior to the commencement of the option period, Landlord shall notify Tenant of its determination of fair market rental value. Tenant shall have thirty (30) days
from the date of such notice to notify Landlord that it disagrees with such determination. In the event Tenant does not so timely notify Landlord, Tenant shall be deemed to have disagreed with Landlord’s determination. In the event
Tenant disagrees with Landlord’s determination, Landlord and Tenant shall each specify within fifteen (15) days from Landlord’s receipt of such notice the name and address of a person to act as the appraiser on its behalf. The
appraiser shall be a licensed real estate appraiser or licensed real estate broker with at least fifteen (15) years of appraisal or leasing experience with the San Francisco downtown office market. The two appraisers so appointed shall
meet within thirty (30) days of their appointment to determine if they can agree upon the fair market rental value and, if so, the fair market rental value shall be as agreed. If the two appraisers so appointed cannot agree upon the fair market
rental value, the two appraisers within forty five (45) days of their appointment shall appoint a third appraiser who shall be a competent and impartial person with qualifications similar to those required of the first two appraisers. If
either party fails to appoint an appraiser, or the two appraisers fail to appoint a third, in either case, within ten (10) days after demand by either party, the necessary appraiser shall be appointed by the San Francisco Superior Court or, in
its failure or refusal to act, the then Dean of the Graduate School of Business of the University of California at Berkeley. 

If the two appraisers selected by Landlord and Tenant cannot reach agreement on the prevailing fair market rental

  
 – 30
– 

 
value, the value shall be established by the three appraisers in accordance with the following procedure. The appraisers selected by Landlord and Tenant shall state in writing his or her
determination of the prevailing fair market rental value and shall arrange for a simultaneous delivery of such determinations to the third appraiser. The role of the third appraiser shall be to select which of the two proposed determinations
most closely approximates his determination of the fair market rental value. The third appraiser shall have no right to propose a middle ground or any modification of either of the two proposed determinations. The determination he chooses
as most closely approximating his determination shall constitute the decision of the appraisers and be final and binding upon the parties. Each party shall pay the cost of its own appraiser and shall share the cost of the third appraiser, if
any. 
 In the event the appraisers have not determined the fair market rental value as of the date for the rental adjustment,
Tenant shall on an interim basis pay Landlord Base Rent based on the Landlord’s determination of fair market rental value. In the event the third appraiser’s determination is less than Landlord’s determination, Tenant shall be
entitled to a credit against the next rental payment(s) payable by Tenant hereunder in the amount of such difference. Alternatively, if the third appraiser’s determination is more than Landlord’s determination, Tenant shall pay such
difference with the next rental payment owing.
  

	44.	SIGNAGE: 

 Landlord
shall include Tenant’s name in any Building-standard directory signage, in accordance with Landlord’s Building signage program. Subject to Landlord’s consent, which shall not be unreasonably withheld, conditioned or delayed, Tenant
shall have the right, at its sole cost and expense, to install (i) signage at the entrance to the Premises; and (ii) window signage and graphics in the two windows at the corner of Second and Market Streets, which shall no larger than the
display in such windows by the current tenant. The initial window display approved by Landlord is attached hereto as Exhibit F. Upon Lease termination, Tenant shall at its expense remove any signage or graphics installed by Tenant and
restore the same to the condition existing prior to the installation of the same. 
  

	45.	BICYCLE STORAGE SPACE: 

 Landlord shall provide Tenant with an area designated by Landlord in the basement of the Building (the “Bicycle Space”) for the purpose of placing a bicycle rack which can hold up to ten
(10) bicycles. Tenant shall use the Bicycle Space exclusively 

  
 – 31
– 

 
for the temporary storage of bicycles. Tenant accepts the Bicycle Space in its “as is” condition with no security and agrees that Landlord shall have no responsibility for any theft of
or damage to the bicycles. The provisions of this Lease, including without limitation paragraph 14 above, shall apply with respect to the Bicycle Space and Tenant’s use thereof. Landlord makes no representations with respect to the Bicycle
Space or Tenant’s intended use thereof, including, without limitation, that applicable codes permit: (i) the use of the Bicycle Space for the storage of bicycles; or (ii) use the auto access ramp for bicycle ingress and egress to the
Bicycle Space. Tenant assumes all risks with respect to the availability and nature of the ingress and egress to the Bicycle Space and shall comply with all applicable laws, rules, codes, ordinances or regulations regarding the use of the Bicycle
Space and the ingress and egress thereto. Upon the request of Landlord, Tenant shall provide Landlord with such evidence as Landlord may reasonably request that Tenant’s insurance required in paragraph 15 covers any injury to persons or damage
to property resulting from the ingress and egress to, and the use of, the Bicycle Space by Tenant or its employees or invitees. In the event that Landlord determines in its reasonable discretion that Tenant’s use of the automobile ramp is
detrimental to the safety of persons using the automobile ramp or to the functionality of the Building, Landlord shall have the right at its expense to: (i) provide Tenant with other access to the Bicycle Space in lieu of the access via the
automobile ramp, such as access by means of the freight elevator or a ramp constructed by Landlord; and/or (ii) relocate the Bicycle Space to a ground level covered shed on the north side of the Building. 

 

	46.	BROKERS 

 Except
for Cushman & Wakefield (“Landlord’s Broker”) and Richards Barry and Joyce & Partners, LLC and Studley Inc. (together, “Tenant’s Broker”), Landlord and Tenant each respectively represents to the other
that it has dealt with no person, firm, real estate broker or finder in respect of leasing or renting space in the Building. Further, Landlord and Tenant each respectively agrees for the benefit of the other party that, if it has dealt with any
other person, firm, real estate broker or finder in respect of leasing or renting space in the Building, it shall be solely responsible for the payment of any fee due to such other person, firm, broker or finder and it shall indemnify, protect and
hold the other party free and harmless from and against any liability in respect thereto, including any of the other party’s reasonable attorneys’ fees incurred in connection therewith. Landlord shall pay to Landlord’s Broker a fee as
set forth in a separate agreement between Landlord and Landlord’s Broker for services rendered by Landlord’s Broker in this transaction. 

  
 – 32
– 

 IN WITNESS WHEREOF, Landlord and Tenant have executed this Lease on the
29th day of May, 2012. 

 

									
		 	 LANDLORD:	 		 	 /s/ Edward J. Conner

		 		 		 	EDWARD J. CONNER
				
		 	 TENANT:	 		 	CONSTANT CONTACT, INC.,
		 		 		 	a Delaware corporation
					
		 		 		 	By:	 	 /s/ Robert P. Nault

					
		 		 		 	Its:	 	 Vice President & General Counsel

  
 – 33
– 

 LIST OF EXHIBITS 

 

			
	Exhibit A	  	Premises (Intentionally omitted)
		
	Exhibit B	  	Work Letter
		
	Exhibit C	  	Janitorial Specifications (Intentionally omitted)
		
	Exhibit D	  	Rules and Regulations (Intentionally omitted)
		
	Exhibit E	  	Approved Window Treatment (Intentionally omitted)
		
	Exhibit F	  	Approved Window Display (Intentionally omitted)

  
 – 34
– 

 Exhibit B 
 WORK LETTER AGREEMENT 
 This Work Letter Agreement (the
“Agreement”) supplements the Lease dated May 29, 2012, executed concurrently herewith by and between EDWARD J. CONNER, Landlord, and CONSTANT CONTACT, INC., a Delaware corporation, Tenant. 

 

	 	A.	General. 

 (a) The
purpose of this Agreement is to set forth how the Tenant Improvements (as defined in Section 4 below) in the Premises are to be constructed, who will undertake the construction of the Tenant Improvements, who will pay for the construction of
the Tenant Improvements, and the procedure for preparation and Landlord’s approval of the Final Plans (as defined in Section 2 below). 
 (b) Except as defined in this Agreement to the contrary, all terms used in this Agreement shall have the same meaning given them in the Lease. When work or services are to be provided by or on behalf of
Landlord, the term “Landlord” shall include Landlord’s agents, contractors, employees and affiliates. 
 (c) The
provisions of the Lease, except to the extent inconsistent or inapplicable to this Agreement, are incorporated into this Agreement. 
 (d) The Tenant Improvements shall be constructed by Tenant pursuant to this Agreement. Landlord shall provide the Tenant Improvement Allowance (as defined in Section 5(a) below). 

(e) Tenant shall make all improvements to the Premises other than Landlord’s Work. All work done by or for Tenant on the Premises
shall be in conformity with all applicable Laws. The term “Laws” as used in this Agreement shall mean all laws, statutes, codes, rules or regulations applicable to the Building. Tenant shall obtain at its expense all necessary permits for
construction of the Tenant Improvements. 
 (f) The provisions of the Lease other than the payment of Base Rent and Additional
Rent shall apply with respect to the period prior to the Commencement Date that Tenant has access to the Premises. 
 2.
Preparation of Plans. Tenant shall arrange for the preparation of the plans and specifications for its proposed Tenant Improvements in accordance with this paragraph 2. 

(a) Selection of Designer. Tenant shall retain an architect approved by Landlord (“Designer”) to design
the 

 
Tenant Improvements; such approval not to be unreasonably withheld, conditioned or delayed. Landlord hereby approves Visnick & Caulfield and NicholsBooth Architects as Designer.

 (b) Preparation and Approval of Space Plan. Tenant shall contract with the Designer to prepare a space
plan approved by Landlord (“Space Plan”), such approval not to be unreasonably withheld, conditioned or delayed. 
 (c) Preparation and Approval of Working Drawings. 
 (i)
Tenant shall submit to Landlord drawings prepared by the Designer (“Working Drawings”) which shall be compatible with the design, construction and equipment of the Building, be capable of logical measurement and construction, contain all
such information as may be required for the construction of the Tenant Improvements and contain all partition locations, plumbing locations, air conditioning system and duct work, special air conditioning requirements, reflected ceiling plans,
office equipment locations, and special security systems. 
 (ii) Landlord shall approve the Working Drawings
within five (5) business days after receipt of same or designate by notice given within such time period to Tenant the specific changes reasonably required to be made to the Working Drawings and shall return the Working Drawings to Tenant;
provided that Landlord shall only be permitted to designate changes to the Working Drawings to the extent the Working Drawings are inconsistent with the Space Plan. In the event that Landlord fails to approve or disapprove the Working Drawings
within such five (5) business day period, Tenant may deem the Working Drawings to be approved by Landlord. Tenant shall make the changes necessary and shall return the Working Drawings to Landlord, which Landlord shall approve or disapprove
within five (5) business days after Landlord receives the revised Working Drawings. In the event that Landlord fails to approve or disapprove the Working Drawings within such five (5) business day period, Tenant may deem the Working
Drawings to be approved by Landlord. This procedure shall be repeated until all of the Working Drawings are finally approved by Landlord and written approval has been delivered to and received by Tenant. The Working Drawings so approved are referred
to as the “Final Plans”. 
 (iii) Tenant shall verify, in the field, the dimensions and conditions as
shown on the relevant portions of the Base Building Plans; Landlord hereby agreeing to provide Tenant with the copies of said Base Building Plans in Landlord’s possession. Tenant shall be solely responsible for the same and Landlord shall have
no responsibility in connection therewith. 

 (d) No Liability for Approval. Landlord’s review and approval of the Space Plan,
Working Drawings, the Final Plans, or other documents (collectively, the “Construction Drawings”) shall be for its sole purpose and not constitute any representation or warranty by or on behalf of Landlord as to the adequacy, efficiency,
suitability, fitness or desirability of any space layout or improvements or otherwise constitute assumption by Landlord of any responsibility for the accuracy or sufficiency thereof, or to be interpreted as a statement of compliance with code
requirements. Accordingly, notwithstanding that any Construction Drawings are reviewed by Landlord or its space planner, architect, engineers and consultants, and notwithstanding any advice or assistance which may be rendered to Tenant by Landlord
or Landlord’s space planner, architect, engineers, and consultants, Landlord shall have no liability whatsoever in connection therewith and shall not be responsible for any omissions or errors contained in the Construction Drawings. Landlord
shall have the right to retain and use without charge a copy of the Construction Drawings,including, without limitation any CAD files relating thereto. 
 3. Contractor. Tenant shall select a contractor (“Contractor”) subject to the approval of Landlord, which approval shall not be unreasonably withheld or delayed. Tenant may have Landlord
approve three (3) or more contractors prior to competitive bidding. Work involving sprinkler, plumbing, mechanical, electrical power, lighting or fire safety systems of the Building shall be performed only by subcontractors approved by
Landlord, which approval shall not be unreasonably withheld, conditioned or delayed and all telecommunications and other special electrical equipment shall be coordinated through Landlord’s electrical subcontractor. All work shall be performed
by union contractors and subcontractors. The construction contract shall provide for progress payments, and Tenant shall pay for the entire cost of the Tenant Improvements in excess of the Tenant Improvement Allowance (as defined in
Section 5(b) below). Prior to commencement of construction of the Tenant Improvements, the Contractor shall obtain and deliver to Landlord a payment and performance bond with respect to the work to be performed in connection with the Tenant
Improvements from a bonding company and in form reasonably acceptable to Landlord and in an amount equal to the estimated cost of the Tenant Improvements. Landlord shall pay the cost of such bond up to an amount equal to two percent (2%) of the
construction cost and Tenant shall pay any excess. 
 4. Tenant Improvements. The term “Tenant Improvements”
shall mean all improvements shown in the Final Plans. The Tenant Improvements shall be constructed in accordance with the Final Plans. No material changes shall be made to the Final Plans 

 
without the prior approval of Landlord in accordance with paragraph 6 below. Tenant and Tenant’s contractors shall abide by all reasonable safety rules and regulations of Landlord and all
work and deliveries shall be scheduled in a manner so as to avoid any material interference with the use by other tenants of the Building. Subject to the terms and provisions of the Lease, all Tenant’s materials, work, installations and
decorations of any nature brought upon or installed in the Premises before the Commencement Date shall be at Tenant’s risk, and neither Landlord nor any party acting on Landlord’s behalf shall be responsible for any damage thereto or loss
or destruction thereof except to the extent arising from the gross negligence or willful misconduct of Landlord or any party acting on Landlord’s behalf. All Tenant Improvements, except unattached movable business and trade fixtures, furniture
and equipment shall become the property of Landlord and shall remain upon and be surrendered with the Premises. Except as provided in paragraph 5 below, all cost of construction shall be borne by Tenant. 

5. Tenant Improvement Allowance. 
 (a) Amount. Landlord will pay to Tenant an amount equal to One Hundred Fifty Seven Thousand Nine Hundred Sixty Dollars ($157,960) (“Tenant Improvement Allowance”) expendable for the costs
of the construction and design of the Tenant Improvements, including, without limitation, any amount paid to Tenant’s Contractor, project coordinator, construction consultant or similar consultant, Designer or other professional and any out of
pocket amounts paid for obtaining permits (collectively, the “Tenant Improvement Costs”). No portion of the Tenant Improvement Allowance may be used for the following: (i) furnishings and/or trade fixtures that are removable by Tenant
upon the expiration of the term of the Lease; (ii) special signage; or (iii) telephone, internet or other telecommunication cabling, all of which Tenant shall remove prior to the expiration of the term of the Lease. Any portion of the
Tenant Improvement Allowance which Tenant has not requested from Landlord prior to March 31, 2013 (provided that for each day beyond August 1, 2012 that Landlord fails to deliver the Premises to Tenant in accordance with the requirements
of Section 3.2 of the Lease, such March 31, 2013 date shall be extended for one day) that Landlord disburse pursuant to Section 2(b) shall revert to Landlord and shall not be payable to or on behalf of Tenant. 

(b) Disbursement. Prior to commencement of construction, Tenant shall submit an estimate of the cost of all of the Tenant
Improvements, including a copy of the contractor’s bid. Landlord shall pay to Tenant the Tenant Improvement Allowance in installments equal to its pro rata share of the amount of the contractor’s invoice as construction
progresses and after Landlord’s inspection and verification that the work to be paid for has been completed substantially in accordance with the 

 
Final Plans. Landlord’s inspection shall be undertaken by the Building architect, Huntsman and Associates, at Landlord’s expense and shall be undertaken with a frequency such that
Landlord can disburse timely the Tenant Improvement Allowance. Landlord’s pro rata share shall be a fraction, the numerator of which is the amount of the Tenant Improvement Allowance and the denominator of which is the total cost
of the Tenant Improvements. Tenant shall provide evidence satisfactory to Landlord prior to or concurrently with Landlord’s disbursement that (i) Tenant is contemporaneously paying its share of the invoice; and Tenant has obtained with
respect to the portion of the work for which payment is requested appropriate mechanic’s lien releases from the contractor and all subcontractors being paid more than $10,000; provided, however, Tenant shall have the right to reasonably contest
the accuracy or legitimacy of said bills, invoices and statements by refusing to make payment when in good faith it determines that payment is not due in whole or in part. In the event that Tenant does dispute or contest such bills, it shall,
promptly upon the written request of Landlord, record at Tenant’s sole cost and expense a Mechanic’s Lien Release Bond to free the premises from the applicable mechanic’s lien to the extent filed. The Tenant Improvement Allowance
shall be disbursed by Landlord every four (4) weeks pursuant to requests for disbursement by Tenant. In the event that there remain undisbursed portions of the Tenant Improvement Allowance after Tenant’s delivery to Landlord of the final
contractor invoice, Landlord shall disburse to Tenant within ten (10) days of Tenant’s request such remaining undisbursed portion of the Tenant Improvement Allowance to the extent such disbursement does not exceed the aggregate of
Tenant’s pro rata share of the costs of the Tenant Improvements. Tenant may, at any time following the execution of this Agreement, submit to Landlord no more frequently than monthly an invoice(s) for the design costs of the Tenant Improvements
(the “Design Costs”). Landlord shall pay from the Tenant Improvement Allowance the amount of such Design Costs and any such payments shall reduce the amount of the Tenant Improvement Allowance available to pay the costs of construction.

 6. Change Orders. In the event that Tenant requests any changes to the Final Plans, Landlord shall not unreasonably
withhold its consent to any such changes, and shall grant its consent to such changes within five (5) business days after Landlord’s receipt of same or designate by notice given within such time period to Tenant the specific changes
disapproved. In the event that Landlord fails to approve or disapprove any such change within such five (5) business day period, Tenant may deem any such change to be approved by Landlord. 

7. No Fee to Landlord. Landlord shall receive no fee for supervision, administration, profit, overhead or general conditions in
connection with the Tenant Improvements. 

 8. Default and Remedies. Failure by Tenant to perform any obligations on
Tenant’s part to be performed in accordance with the provisions of this Agreement shall constitute an event of default under this Agreement and under the Lease following the expiration of applicable notice and cure periods as provided in the
Lease. 
 9. Compliance with Laws. Tenant acknowledges that the Building is an historical building and that consequently
laws may be applied to the Building differently than a non-historical building. Tenant assumes all risks of increased design or construction costs, or increased costs relating to obtaining permits and approvals, as a result thereof. 

IN WITNESS WHEREOF, the parties have entered into this Agreement as of the date first written above. 

 

									
		 	 LANDLORD:	 		 	 /s/ Edward J. Conner

		 		 		 	EDWARD J. CONNER
				
		 	 TENANT:	 		 	CONSTANT CONTACT, INC.,
		 		 		 	a Delaware corporation
					
		 		 		 	By:	 	 /s/ Robert P. Nault

		 		 		 	Its:	 	 Vice President & General Counsel

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00206-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00206-of-00352.parquet"}]]