Document:

NORTHWEST PARK LEASE

 Exhibit 10.1 
 NORTHWEST PARK 
 LEASE 
 ARTICLE 1 
 Reference Data 
  

	1.1	Subject Referred To. 

 Each reference in this
Lease to any of the following subjects shall be construed to incorporate the data stated for that subject in this Section 1.1. 
  

			
	Date of this Lease:	  	March 31, 2003
		
	Building:	  	The single story Building in Northwest Park in Burlington, Massachusetts (hereinafter referred to as the “Park”) on a parcel of land known as 63 Second Avenue, a description of which
is filed in Middlesex South Registry of the Land Court at Certificate of Title Nos. 136761 (fifth parcel) and 206553, (the Building and such parcel of land hereinafter being collectively referred to as the “Property”).
		
	Premises:	  	(i) For lease years 1-3: a portion of the Building consisting of the Rentable Floor Area of Premises set forth below and substantially as shown on Exhibit A attached hereto; and (ii) for lease
years 4-5: the entire Building consisting of the Rentable Floor Area of Premises set forth below.
		
	Rentable Floor Area of Premises:	  	(i) For lease years 1-3: approximately 22,322 rentable square feet; and (ii) for lease years 4-5: approximately 27,098 rentable square feet.
		
	Landlord:	  	Roger P. Nordblom and Peter C. Nordblom, as Trustees of Northwest Associates under Declaration of Trust dated December 9, 1971 and filed in Middlesex South Registry District of the Land Court as
Document No. 493351 with Certificate of Title Nos. 136761 and 206553.

  

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	Original Notice Address of Tenant:	  	 c/o Nordblom Management Company, Inc.
 15 Third
Avenue
 Burlington, Massachusetts 01803

		
	Tenant:	  	LeMaitre Vascular, Inc.
		
	Original Notice Address of Tenant:	  	 63 Second Avenue
 Burlington, Massachusetts
01803

		
	Expiration Date:	  	The last day of the fifth (5th) lease year (as hereinafter
defined)
		
	Commencement Date:	  	April 1, 2003
		
	Rent Commencement Date:	  	Subject to Section 11.11, the earlier to occur of (i) June 1, 2003 or (ii) the date on which Tenant occupies all or any portion of the Premises for the conduct of its business.
		
	Annual Fixed Rent Rate:	  	 $129,108.00 during the first lease year;
 $184,908.00
during the second lease year;
 $240,720.00 during the third lease year;
 $315,576.00 during the fourth lease year; and
 $342,672.00 during the fifth lease year.

		
	Monthly Fixed Rent Rate:	  	 $10,759.00 during the first lease year;
 $15,409.00
during the second lease year;
 $20,060.00 during the third lease year;
 $26,298.00 during the fourth lease year; and
 $28,556.00 during the fifth lease year.

		
	Security and Restoration Deposit:	  	$75,000.00 upon execution of this Lease by Tenant. Upon the second anniversary of the lease term the Security and Restoration Deposit shall be increased as set forth in Section 4.4
herein.
		
	Tenant’s Percentage:	  	(i) For lease years 1-3: the ratio of the Rentable Floor Area of the Premises to the total rentable area of the Building, which shall initially be deemed to be eighty-two and 38/100 (82.38%)
percent; and (ii) for lease years 4-5: Tenant’s Percentage shall be deemed to be one hundred (100%) percent.
		
	Initial Estimate of Tenant’s Percentage of Taxes for the Tax Year:	  	$38,400.00

  

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	Initial Estimate of Tenant’s Percentage of Operating Costs for the Calendar Year:	  	$44,040.00
		
	Permitted Uses:	  	Office, research and development, and light manufacturing.
		
	Public Liability Insurance Limits:	  	
		
	 Commercial General Liability:
	  	 $3,000,000 per occurrence
 $5,000,000 general
aggregate

  

	1.2	Exhibits. 

 The Exhibits listed below in this
section are incorporated in this Lease by reference and are to be construed as a part of this Lease. 
  

			
	EXHIBIT A	  	Plan showing the Premises.
	EXHIBIT B	  	Commencement Date Notification
	EXHIBIT C	  	Intentionally Deleted
	EXHIBIT D	  	Intentionally Deleted
	EXHIBIT E	  	Rules and Regulations
	EXHIBIT F	  	Form Tenant Estoppel Certificate

  

	1.3	Table of Articles and Sections. 

  

					
	 ARTICLE 1—Reference Data
	  	
			
	 1.1
	  	Subject Referred To	  	
	 1.2
	  	Exhibits	  	
	 1.3
	  	Table of Articles and Sections	  	
		
	 ARTICLE 2—Premises and Term
	  	
			
	 2.1
	  	Premises	  	
	 2.2
	  	Term	  	
	 2.3
	  	Extension Option	  	
		
	 ARTICLE 3—Improvements
	  	
			
	 3.1
	  	Condition of Premises	  	
	 3.2
	  	Tenant’s Work	  	
	 3.3
	  	Allowance	  	

  

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	 ARTICLE 4—Rent
	  	
			
	 4.1
	  	The Fixed Rent	  	
	 4.2
	  	Additional Rent	  	
		  	4.2.1      Real Estate Taxes	  	
		  	4.2.2      Personal Property Taxes	  	
		  	4.2.3      Operating Costs	  	
		  	4.2.4      Insurance	  	
		  	4.2.5      Utilities	  	
	 4.3
	  	Late Payment of Rent	  	
	 4.4
	  	Security and Restoration Deposit	  	
		
	 ARTICLE 5—Landlord’s Covenants
	  	
			
	 5.1
	  	Affirmative Covenants	  	
		  	5.1.1      Heat and Air-Conditioning	  	
		  	5.1.2      Electricity	  	
		  	5.1.3      Water	  	
		  	5.1.4      Elevator, Fire Alarm	  	
		  	5.1.5      Repairs	  	
	 5.2
	  	Interruption	  	
	 5.3
	  	Intentionally Deleted	  	
	 5.4
	  	Access	  	
	 5.5
	  	Insurance	  	
	 5.6
	  	Condition of Premises	  	
	 5.7
	  	Landlord’s Indemnification	  	
	 5.8
	  	Adjacent Uses	  	
		
	 ARTICLE 6—Tenant’s Additional Covenants
	  	
			
	 6.1
	  	Affirmative Covenants	  	
		  	6.1.1      Perform Obligations	  	
		  	6.1.2      Use	  	
		  	6.1.3      Repair and Maintenance	  	
		  	6.1.4      Compliance with Law	  	
		  	6.1.5      Indemnification	  	
		  	6.1.6      Landlord’s Right to Enter	  	
		  	6.1.7      Personal Property at Tenant’s Risk	  	
		  	6.1.8      Payment of Landlord’s Cost of Enforcement	  	
		  	6.1.9      Yield Up	  	
		  	6.1.10    Rules and Regulations	  	
		  	6.1.11    Estoppel Certificate	  	
		  	6.1.12    Landlord’s Expenses Re: Consents	  	
	 6.2
	  	Negative Covenants	  	
		  	6.2.1      Assignment and Subletting	  	
		  	6.2.2      Nuisance	  	
		  	6.2.3      Intentionally Deleted	  	
		  	6.2.4      Floor Load: Heavy Equipment	  	
		  	6.2.5      Installation, Alterations or Additions	  	

  

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		  	6.2.6      Abandonment	  	
		  	6.2.7      Signs	  	
		  	6.2.8      Parking and Storage	  	
		
	 ARTICLE 7—Casualty or Taking
	  	
			
	 7.1
	  	Termination	  	
	 7.2
	  	Restoration	  	
	 7.3
	  	Award	  	
		
	 ARTICLE 8—Defaults
	  	
			
	 8.1
	  	Events of Default	  	
	 8.2
	  	Remedies	  	
	 8.3
	  	Remedies Cumulative	  	
	 8.4
	  	Landlord’s Right to Cure Defaults	  	
	 8.5
	  	Effect of Waivers of Default	  	
	 8.6
	  	No Waiver, etc.	  	
	 8.7
	  	No Accord and Satisfaction	  	
		
	 ARTICLE 9—Rights of Mortgage Holders
	  	
			
	 9.1
	  	Rights of Mortgage Holders	  	
	 9.2
	  	Lease Superior or Subordinate to Mortgages	  	
		
	 ARTICLE 10—Miscellaneous Provisions
	  	
			
	 10.1
	  	Notices from One Party to the Other	  	
	 10.2
	  	Quiet Enjoyment	  	
	 10.3
	  	Lease not to be Recorded	  	
	 10.4
	  	Limitation of Landlord’s Liability	  	
	 10.5
	  	Acts of God	  	
	 10.6
	  	Landlord’s Default	  	
	 10.7
	  	Brokerage	  	
	 10.8
	  	Applicable Law and Construction	  	
		
	 ARTICLE 11—Hazardous Materials
	  	
			
	 11.1
	  	No Releases of Hazardous Materials	  	
	 11.2
	  	Notices of Release of Hazardous Materials	  	
	 11.3
	  	Landlord’s Right to Inspect	  	
	 11.4
	  	Landlord’s Right to Audit	  	
	 11.5
	  	Tenant Audit	  	
	 11.6
	  	Remediation	  	
	 11.7
	  	Tenant’s Reporting Requirements; Management and Safety Plan	  	
	 11.8
	  	Indemnification	  	
	 11.9
	  	Notice to Tenant	  	
	 11.10
	  	Delivery of Reports	  	
	 11.11
	  	Asbestos	  	

  

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 ARTICLE 2 
 Premises and Term 
  

	2.1	Premises. Landlord hereby leases to Tenant and Tenant hereby leases from Landlord, subject to and with the benefit of the terms, covenants, conditions and provisions
of this Lease, the Premises, excluding the roof, exterior faces of exterior walls, the common stairways, and pipes, ducts, conduits, wires, and appurtenant fixtures serving exclusively or in common other parts of the Building (and any areas, such as
the space above the ceiling or in the walls, that may contain such pipes, ducts, conduits, wires or appurtenant fixtures), and if Tenant’s space includes less than entire rentable area of any floor, excluding the central core area of such
floor. 

 Tenant shall have, as appurtenant to the Premises, rights to use, in common for lease years 1-3 and exclusively for
lease years 4-5, subject to reasonable rules of general applicability to tenants of the Building from time to time made by Landlord of which Tenant is given notice: (a) the common lobbies, hallways and stairways of the Building, (b) common
walkways and driveways necessary for access to the Building, (c) the common parking areas serving the Building, (d) the loading dock serving the Building, and (e) if the Premises include less than the entire rentable area of any
floor, the common toilets and other common facilities in the central core area of such floor. Tenant shall further have the right to use the space above the suspended ceiling in order for Tenant to install its conduits, cables and pipes, provided
said installation is done in compliance with all applicable codes, regulations, ordinances and/or laws and pursuant to the terms and conditions of subsection 6.2.5 of this Lease (it being further agreed by Tenant that said installations shall not
constitute “nonstructural, interior installations or alterations” as set forth in subsection 6.2.5 (b)). 
 There are approximately
76 parking spaces serving the Building. Tenant shall be permitted to use its proportionate share of said available parking. Subject to the actions of and/or directives or orders from governmental and other authorities, and/or the actions of utility
companies, Landlord shall not decrease the size of the existing parking area serving the Building. 
 Landlord reserves the right from time to
time, upon reasonable prior notice to Tenant, except in the case of emergencies, and without unreasonable interference with use of the Premises: (a) to install, use, maintain, repair, replace and relocate for service to the Premises and other
parts of the Building, or either, pipes, ducts, conduits, wires and appurtenant fixtures, wherever located in the Premises or Building, (b) to alter or relocate any other common facility, (c) to make any repairs and replacements to the
Premises which Landlord may deem necessary, and (d) in connection with any excavation made upon adjacent land of Landlord or others, to enter, and to license others to enter, upon the Premises to do such work as the person causing such
excavation deems necessary to preserve the wall of the Building from injury or damage and to support the same. 

  

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Landlord shall use reasonable efforts to perform the activities permitted under this paragraph during normal business hours. 
  

	2.2	Term. TO HAVE AND TO HOLD for a term beginning on the Commencement Date, and ending on the Expiration Date, unless sooner terminated as hereinafter provided. When the
dates of the beginning and end of the term have been determined, such dates shall be evidenced by a document, in the form attached hereto as Exhibit B, which Landlord shall complete and deliver to Tenant, and which shall be deemed conclusive unless
Tenant shall notify Landlord of any disagreement therewith within ten (10) business days of receipt. 

 The term
“lease year” as used herein shall mean a period of twelve (12) consecutive full calendar months. The first lease year shall begin on the Commencement Date if the Commencement Date is the first day of a calendar month; if not, then the
first lease year shall commence upon the first day of the calendar month next following the Commencement Date. Each succeeding lease year shall commence upon the anniversary date of the first lease year. 
  

	2.3	 Extension Option. Subject to the terms and conditions contained herein, Tenant shall have the right to extend the term of this Lease for one
additional period of three (3) years, to begin immediately upon the expiration of the original term of this Lease (the “extended term”), provided that each of the following conditions has been satisfied: (i) as of the date of the
Tenant’s Notice of Intent (as defined below), the Landlord’s Notice of the Market Rate (as defined below), the Date of Tenant’s Acceptance (as defined below), and as of the commencement of the extended term, Tenant shall not be in
default and shall not have previously been in default of its obligations under this Lease beyond any applicable grace period; (ii) Tenant shall have a net income for the 12-month period immediately preceding the date of the Extension Notice and
for the 12-month period immediately preceding the commencement of the extended term; and (iii) simultaneously with delivery of the Extension Notice and also at the commencement of the extended term, Tenant shall have delivered to Landlord an
audited statement prepared using generally accepted accounting principles evidencing such net income during each of the periods specified in clause (ii) hereinabove. If an audited statement has not yet been prepared for either of the 12-month
periods specified in (ii) above, Tenant shall deliver, in lieu thereof, a financial statement certified by an officer of the company and prepared using generally accepted accounting principles to evidence said net income, provided, however,
Tenant shall deliver said audited statement to Landlord immediately upon its completion and if said audited statement does not corroborate the certified financial statement, Landlord shall have the right to terminate the extended term and any
extension notice delivered by Tenant shall be deemed null and void and of no further effect as between the parties. Landlord shall not be liable to Tenant for any damages (direct, indirect, punitive, consequential, special or otherwise) incurred by
Tenant in connection with any failure of the term of this Lease to be extended hereunder. All of the terms, covenants and provisions of this Lease shall apply to such extended term except that the Annual Fixed Rent Rate for such extension period
shall be the market rate at the commencement of such extended term, as designated by Landlord. The “market rate” shall be the annual fair market rental rate during the extended term, for leases, for a space of similar size to 

  

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the Premises and of a quality comparable to the Premises, in a comparable market as reasonably determined by Landlord. In order for Tenant’s right to
extend the term of this Lease to be effective, Tenant shall notify Landlord in writing of its desire to extend the term no later than June 15, 2007 (the “Tenant’s Notice of Intent”). If Tenant delivers the Tenant’s Notice of
Intent as aforesaid, then, not later than July 5, 2007, Landlord shall give written notice to Tenant of Landlord’s designation of the market rate (the “Landlord’s Notice of the Market Rate”). Tenant shall either accept or
reject in writing Landlord’s designation of the market rate no later than July 15, 2007 (in the event Tenant accepts Landlord’s designation, the date of Tenant’s acceptance is referred to herein as the “Date of Tenant’s
Acceptance”). Any failure on the part of Tenant to deliver, or any act or omission by Tenant not to deliver, its notice accepting or rejecting the Landlord’s designation of the market rate shall bind Tenant to Landlord’s designation
of the market rate and the extension of this Lease shall automatically be effected without the execution of any additional documents. If Tenant accepts the Landlord’s designation of the market rate, the extension of this Lease shall be
automatically effected without the execution of any additional documents. If Tenant fails or decides not to timely deliver its Notice of Intent, or rejects Landlord’s designation of the market rate, as aforesaid, Tenant shall be deemed to have
waived its right to extend the term of the Lease hereunder. The original term and the extended term are hereinafter collectively called the “term”. 

 In any event, the Annual Fixed Rent Rate for the extended term shall not be less than the Annual Fixed Rent Rate in effect immediately prior to such
extended term. 
 ARTICLE 3 
 Improvements 
  

	3.1	Condition of Premises. The Premises are leased to Tenant “as-is” in the condition the Premises are in as of the date hereof without any representations or
warranties by Landlord as to the condition or suitability of the Premises for Tenant’s use, and without any obligation by Landlord to construct or prepare the Premises for Tenant’s use or occupancy. 

  

	3.2	 Tenant’s Work. Promptly following the Commencement Date, Tenant shall perform with reasonable dispatch, at Tenant’s sole cost and expense
(except for reimbursement by Landlord of the Allowance as hereinafter provided), all work which is necessary or desirable to prepare the Premises for Tenant’s use and occupancy (the “Tenant’s Work”) in accordance with plans and
specifications submitted to and approved in advance in writing by Landlord in each instance. Tenant shall be responsible, at its sole cost and expense, for the preparation of the architectural, electrical and mechanical construction drawings, plans
and specifications (called the “construction plans”) which are necessary to perform the Tenant’s Work, which construction plans shall be submitted to Landlord for prior approval. If any of such construction plans are disapproved by
Landlord, Landlord shall provide Tenant with specific reasons for such disapproval and the foregoing submission process shall be repeated until all construction plans have been approved by Landlord. Landlord’s approval in each instance shall
not be unreasonably withheld, conditioned or delayed for any construction plans (i) which would not involve 

  

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or affect any structural or exterior element of the Building or any portion thereof, (ii) which would not adversely affect the value of the Building or
any portion thereof, (iii) which would not adversely affect the proper functioning of the Building systems or other facilities, or (iv) which would not change the character of the exterior or interior architectural design of the Building.
During the performance of Tenant’s Work, Tenant shall not be obligated to pay Fixed Rent, Taxes or Operating Costs to Landlord unless the Rent Commencement Date has occurred. However, Tenant shall reimburse Landlord for its actual costs
incurred in connection with the Tenant’s Work, including, without limitation, trash removal, electrical costs and costs of other utilities during construction (if separate accounts have not been established in Tenant’s name with the local
utility companies at such time). All Tenant’s Work shall be performed in a good and workmanlike manner employing materials of good quality and so as to conform with all applicable zoning, building, fire, health and other codes, regulations,
ordinances and laws and shall be subject to the applicable provisions of this Lease, including, without limitation, subsection 6.2.5. Tenant shall use, as its project manager Nordblom Development Company (pursuant to a separate written agreement
between Nordblom Development Company and Tenant) 

  

	3.3	Allowance. Landlord shall provide Tenant with an allowance of up to $200,000.00 (the “Allowance”) to be used towards the cost of Tenant’s Work
(including the design fees of Tenant’s architects and engineers). When Tenant has incurred costs for the Tenant’s Work, Tenant shall submit to Landlord from time to time (but no more frequently than monthly) requisitions for payment
setting forth any costs incurred for Tenant’s Work, together with waivers of lien from all contractors and subcontractors, invoices from contractors, subcontractors and suppliers, and other reasonable documentation evidencing the costs,
including fees of architects and engineers, incurred by Tenant for Tenant’s Work, to the reasonable satisfaction of Landlord. Landlord shall, within thirty (30) days following Landlord’s receipt thereof, pay to Tenant ninety
(90%) percent of the amount of each such requisition (or of such lesser amount as is approved by Landlord) with ten (10%) percent to be retained. Such payments, in the aggregate, shall not exceed an amount equal to ninety
(90%) percent of the Allowance. Landlord shall pay to Tenant the ten (10%) percent retained as aforesaid within thirty (30) days following the submission by Tenant of a written statement from Tenant’s architect or engineer that
Tenant’s Work has been completed in accordance with the approved construction plans, a final lien waiver executed by Tenant’s general contractor, and a final certificate of occupancy for, and any other required governmental approvals of,
Tenant’s Work. The costs of Tenant’s Work shall include all costs incurred by Tenant for construction and installation of improvements (but excluding any trade fixtures or personal property), including the costs of all labor and materials,
and all contractor’s fees. Tenant shall be responsible for paying for all costs of Tenant’s Work not included in the Allowance and for all costs in excess of the Allowance. Tenant shall not be entitled to any rent credit or refund for any
unused portion of the Allowance. 

  

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 ARTICLE 4 
 Rent 
  

	4.1	The Fixed Rent. Commencing on the Rent Commencement Date, Tenant covenants and agrees to pay rent to Landlord at the Original Address of Landlord or at such other
place or to such other person or entity as Landlord may by notice in writing to Tenant from time to time direct, at the Annual Fixed Rent Rate, in equal installments at the Monthly Fixed Rent Rate (which is 1/12th of the Annual Fixed Rent Rate), in
advance, on the first day of each calendar month included in the term; and for any portion of a calendar month following the Rent Commencement Date, at the rate for the first lease year payable in advance for such portion. 

If Landlord shall give notice to Tenant that all rent and other payments due hereunder are to be made to Landlord by electronic funds transfers, so
called, or by similar means, Tenant shall make all such payments as shall be due after receipt of said notice by means of said electronic funds transfers (or such similar means as designated by Landlord), provided, however, that Tenant shall have
the right to suspend such electronic funds transfers for just cause for a reasonable period of time, which cause and period of time must be consented to by Landlord (which consent shall not be unreasonably withheld or delayed). 
  

	4.2	Additional Rent. Tenant covenants and agrees to pay, as Additional Rent, insurance costs, utility charges, personal property taxes and its pro rata share of taxes and
operating costs with respect to the Premises as provided in this Section 4.2 as follows: 

  

	 	4.2.1	 Real Estate Taxes. Tenant shall pay to Landlord, as additional rent, for each tax period partially or wholly included in the term, Tenant’s
Percentage of Taxes (as hereinafter defined). Tenant shall remit to Landlord, on the first day of each calendar month, estimated payments on account of Taxes, such monthly amounts to be sufficient to provide Landlord, by the time real estate tax
payments are due and payable to any governmental authority responsible for collection of same, a sum equal to the Tenant’s Percentage of Taxes, as reasonably estimated by Landlord from time to time on the basis of the most recent tax data
available. The initial calculation of the monthly estimated payments shall be based upon the Initial Estimate of Tenant’s Percentage of Taxes for the Tax Year and upon quarterly payments being due to the governmental authority on
August 1, November 1, February 1 and May 1, and shall be made when the Commencement Date has been determined. If the total of such monthly remittances for any Tax Year is greater than the Tenant’s Percentage of
Taxes for such Tax year, Landlord shall promptly pay to Tenant, or credit against the next accruing payments to be made by Tenant pursuant to this subsection 4.2.1, the difference; if the total of such remittances is less than the Tenant’s
Percentage of Taxes for such Tax Year, Tenant shall pay the difference to Landlord at least ten (10) days prior to the date or dates within such Tax Year that any Taxes become due and payable to the governmental authority (but in any event no
earlier than ten (10) days following a 

  

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written notice to Tenant, which notice shall set forth the manner of computation of Tenant’s Percentage of Taxes). 

 If, after Tenant shall have made reimbursement to Landlord pursuant to this subsection 4.2.1, Landlord shall receive a refund of any portion of Taxes paid
by Tenant with respect to any Tax Year during the term hereof as a result of an abatement of such Taxes by legal proceedings, settlement or otherwise (without either party having any obligation to undertake any such proceedings), Landlord shall
promptly pay to Tenant, or credit against the next accruing payments to be made by Tenant pursuant to this subsection 4.2.1, the Tenant’s Percentage of the refund (less the proportional, pro rata expenses, including attorneys’ fees and
appraisers’ fees, incurred in connection with obtaining any such refund), as relates to Taxes paid by Tenant to Landlord with respect to any Tax Year for which such refund is obtained. If Landlord does not pursue a tax abatement during the Tax
Year in question, Tenant shall have the right to do so in Landlord’s name and Landlord shall reasonably cooperate with Tenant in such effort, provided however, that Tenant shall give prior written notice to Landlord that Tenant elects to seek
an abatement and provided, further, that all abatement proceedings are entirely at Tenant’s sole cost and expense. 
 In the event this
Lease shall commence, or shall end (by reason of expiration of the term or earlier termination pursuant to the provisions hereof), on any date other than the first or last day of the Tax Year, or should the Tax Year or period of assessment of real
estate taxes be changed or be more or less than one (1) year, as the case may be, then the amount of Taxes which may be payable by Tenant as provided in this subsection 4.2.1 shall be appropriately apportioned and adjusted. 
 The term “Taxes” shall mean all taxes, assessments, betterments and other charges and impositions (including, but not limited to, fire
protection service fees and similar charges) levied, assessed or imposed at any time during the term by any governmental authority upon or against the Property, or taxes in lieu thereof, and additional types of taxes to supplement real estate taxes
due to legal limits imposed thereon. If, at any time during the term of this Lease, any tax or excise on rents or other taxes, however described, are levied or assessed against Landlord with respect to the rent reserved hereunder, either wholly or
partially in substitution for, or in addition to, real estate taxes assessed or levied on the Property, such tax or excise on rents shall be included in Taxes; however, Taxes shall not include franchise, corporation, estate, inheritance, succession,
capital levy, transfer, gift, income or excess profits taxes assessed on Landlord, or penalties for delinquent payment of Taxes assessed against Landlord provided that such late payment is not caused by or a result of any acts or omissions of
Tenant. Taxes shall include any estimated payment made by Landlord on account of a fiscal tax period for which the actual and final amount of taxes for such period has not been determined by the governmental authority as of the date of any such
estimated payment. 
  

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	 	4.2.2 	Personal Property Taxes. Tenant shall pay all taxes charged, assessed or imposed upon the personal property of Tenant in or upon the Premises.

  

	 	4.2.3 	Operating Costs. Tenant shall pay to Landlord the Tenant’s Percentage of Operating Costs (as hereinafter defined) incurred by Landlord in any calendar year.
Tenant shall remit to Landlord, on the first day of each calendar month, estimated payments on account of Operating Costs, such monthly amounts to be sufficient to provide Landlord, by the end of the calendar year, a sum equal to the Operating
Costs, as reasonably estimated by Landlord from time to time. The initial monthly estimated payments shall be in an amount equal to 1/12th of the Initial Estimate of Tenant’s Percentage of Operating Costs for the Calendar Year. If, at the
expiration of the year in respect of which monthly installments of Operating Costs shall have been made as aforesaid, the total of such monthly remittances is greater than the actual Operating Costs for such year, Landlord shall promptly pay to
Tenant, or credit against the next accruing payments to be made by Tenant pursuant to this subsection 4.2.3, the difference; if the total of such remittances is less than the Operating Costs for such year, Tenant shall pay the difference to Landlord
within twenty (20) days from the date Landlord shall furnish to Tenant an itemized statement of the Operating Costs, prepared, allocated and computed in accordance with generally accepted accounting principles. Any reimbursement for Operating
Costs due and payable by Tenant with respect to periods of less than twelve (12) months shall be equitably prorated. 

 The
term “Operating Costs” shall mean all costs and expenses incurred for the operation, maintenance, repair, upkeep and exterior cleaning of the Property, and the portion of such costs and expenses with regard to the common areas, facilities
and amenities of the Park which is equitably allocable to the Property, including, without limitation, all costs of maintaining and repairing the Property and the Park (including snow removal, landscaping and grounds maintenance, operation and
maintenance of parking lots, sidewalks, walking paths, access roads and driveways, security, operation and repair of heating and air-conditioning equipment, elevators, lighting and any other Building equipment or systems) and of all repairs and
replacements (other than repairs or replacements for which Landlord has received full reimbursement from contractors, other tenants of the Building or from others) necessary to keep the Property and the Park in good working order, repair, appearance
and condition; all costs, including material and equipment costs, for cleaning the exterior of the Building (including without limitation window cleaning of the Building); all costs of any reasonable insurance carried by Landlord relating to the
Property; all costs related to provision of heat (including oil, electric, steam and/or gas), air-conditioning, and water (including sewer charges) and other utilities to the Building (exclusive of reimbursement to Landlord for any of same received
as a result of direct billing to any tenant of the Building); payments under all service contracts relating to the foregoing; all compensation, fringe benefits, payroll taxes and workmen’s compensation insurance premiums related thereto with
respect to any employees of Landlord or its affiliates engaged in security and maintenance of the Property and the Park; 

  

 12 

 
attorneys’ fees and disbursements (exclusive of any such fees and disbursements incurred in tax abatement proceedings or the preparation of leases) and
auditing and other professional fees and expenses; and a management fee. 
 There shall not be included in such Operating Costs:
(a) brokerage fees (including rental fees) related to the operation of the Building; (b) interest and depreciation charges incurred on the Property; (c) expenditures made by Tenant with respect to (i) janitorial type cleaning,
maintenance and upkeep of the interior of the Premises (provided said janitorial and cleaning services are not being provided by Landlord), and (ii) the provision of electricity to the Premises; (d) the cost of any item for which Landlord
is reimbursed by insurance proceeds; (e) payments which exceed arms-length competitive market prices for services rendered to the Premises paid to any person, firm or corporation affiliated with Landlord to the extent that the payments for such
services exceed the competitive costs that would have been paid to parties unaffiliated with Landlord; (f) costs incurred by Landlord due to a breach by Landlord of the terms and conditions of this Lease but only to the extent such costs do not
arise from or are attributable to the acts or omissions of Tenant; (g) costs of correcting defects in the original construction of the Premises; (h) costs resulting from the gross negligence or willful misconduct of Landlord or
Landlord’s agents; (i) legal fees incurred in tenant disputes, including litigation and arbitration, to the extent said fees are not related to the operation and/or maintenance of the Building, and/or are not related to the relationship
(contractual or otherwise) which exists or may exist between Landlord and Tenant; and (j) costs or expenses related to the removal, abatement or remediation of hazardous materials in or about the Building and/or the Property which is existing
as of the date hereof, to the extent said costs or expenses are not attributable to or arise from the acts or omission of Tenant or Tenant’s agents, employees, invitees, servants or contractors (which costs and expenses shall be paid for by
Tenant). 
 If, during the term of this Lease, Landlord shall replace any capital items or make any capital expenditures (collectively called
“capital expenditures”) the total amount of which is not properly included in Operating Costs for the calendar year in which they were made, there shall nevertheless be included in Operating Costs for each calendar year in which and after
such capital expenditure is made the annual charge-off of such capital expenditure. (Annual charge-off shall be determined by (i) dividing the original cost of the capital expenditure by the number of years of useful life thereof [The useful
life shall be reasonably determined by Landlord in accordance with generally accepted accounting principles and practices in effect at the time of acquisition of the capital item.]; and (ii) adding to such quotient an interest factor computed
on the unamortized balance of such capital expenditure based upon an interest rate reasonably determined by Landlord as being the interest rate then being charged for long-term mortgages by institutional lenders on like properties within the
locality in which the Building is located.) Provided, further, that if Landlord reasonably concludes on the basis of engineering estimates that a particular capital expenditure will effect savings in Operating Costs and that such annual projected

  

 13 

 
savings to Operating Costs will exceed the annual charge-off of capital expenditure computed as aforesaid, then and in such events, if Landlord shall make
such capital expenditure, the annual charge-off shall be determined by dividing the amount of such capital expenditure by the number of years over which the projected amount of such savings shall fully amortize the cost of such capital item or the
amount of such capital expenditure; and by adding the interest factor, as aforesaid. 
 If during any portion of any year for which Operating
Costs are being computed, the Building was not fully occupied by tenants or if not all of such tenants were paying fixed rent or if Landlord was not supplying all tenants with the services being supplied hereunder, the variable components of actual
Operating Costs incurred shall be reasonably extrapolated by Landlord to the estimated Operating Costs that would have been incurred if the Building were fully occupied by tenants and all such tenants were then paying fixed rent or if such services
were being supplied to all tenants, and such extrapolated amount shall, for the purposes of this Section 4.2.3, be deemed to be the Operating Costs for such year. 
 Subject to Article 7 of the Lease, Tenant shall have the right to obligate Landlord to replace the roof of the Building provided Tenant delivers to Landlord evidence reasonably satisfactory to Landlord that the
replacement of the roof will result in an actual decrease in Operating Costs (the “Roof Replacement Evidence”). All costs associated with the replacement of the roof shall be treated as a capital expenditure under this subsection 4.2.3.
Notwithstanding the foregoing, Landlord shall not in its sole discretion be obligated to replace the roof of the Building as aforesaid during the last twelve (12) months of the term, provided, however, if Tenant delivers the Roof Replacement
Evidence during the last twelve (12) months of the term, Landlord shall be responsible for the amount of the differential, if any, between the amortized cost of replacing the roof (as determined pursuant to this subsection 4.2.3) and the cost
of Landlord’s maintenance of the roof during the last twelve (12) months of the term as determined from the date reasonably satisfactory Roof Replacement Evidence as aforesaid is delivered to Landlord through the end of the term.

  

	 	4.2.4 	Insurance. Tenant shall, at its expense, as Additional Rent, take out and maintain throughout the term the following insurance protecting Landlord:

  

	 	4.2.4.1 	 Commercial general liability insurance naming Landlord, Tenant, and Landlord’s managing agent and any mortgagee of which Tenant has been given notice as
insureds or additional insureds and indemnifying the parties so named against all claims and demands for death or any injury to person or damage to property which may be claimed to have occurred on the Premises (or the Property, insofar as used by
customers, employees, servants or invitees of the Tenant), in amounts which shall, at the beginning of the term, be at least equal to the limits set forth in Section 1.1, and, which, from time to time during the term, shall be for such higher
limits, if any, as are customarily carried in the area in which the Premises 

  

 14 

	 	 
are located on property similar to the Premises and used for similar purposes; and workmen’s compensation insurance with statutory limits covering all
of Tenant’s employees working on the Premises. 

  

	 	4.2.4.2 	Fire insurance with the usual extended coverage endorsements covering all Tenant’s furniture, furnishings, fixtures, equipment and any and all improvements or alterations
installed by or on behalf of Tenant, but excluding the Tenant’s Work. 

  

	 	4.2.4.3 	All such policies shall be obtained from responsible companies qualified to do business and in good standing in Massachusetts, which companies and the amount of insurance allocated
thereto shall be subject to Landlord’s approval. Tenant agrees to furnish Landlord with certificates evidencing all such insurance prior to the beginning of the term hereof and evidencing renewal thereof at least thirty (30) days prior to
the expiration of any such policy. Each such policy shall be non-cancelable with respect to the interest of Landlord without at least ten (10) days’ prior written notice thereto. In the event provision for any such insurance is to be by a
blanket insurance policy, the policy shall allocate a specific and sufficient amount of coverage to the Premises. 

  

	 	4.2.4.4 	 All insurance which is carried by either party with respect to the Building, Premises or to furniture, furnishings, fixtures, or equipment therein or alterations or
improvements thereto, whether or not required, shall include provisions which either designate the other party as one of the insured or deny to the insurer acquisition by subrogation of rights of recovery against the other party to the extent such
rights have been waived by the insured party prior to occurrence of loss or injury, insofar as, and to the extent that, such provisions may be effective without making it impossible to obtain insurance coverage from responsible companies qualified
to do business in the state in which the Premises are located (even though extra premium may result therefrom). In the event that extra premium is payable by either party as a result of this provision, the other party shall reimburse the party
paying such premium the amount of such extra premium. If at the request of one party, this non-subrogation provision is waived, then the obligation of reimbursement shall cease for such period of time as such waiver shall be effective, but nothing
contained in this subsection shall derogate from or otherwise affect releases elsewhere herein contained of either party for claims. Each party shall be entitled to have certificates of any policies containing such provisions. Each party hereby
waives all rights of recovery against the other for loss or injury against which the waiving party is protected by insurance containing said provisions, reserving, however, any rights with respect to any excess of loss or injury over the amount
recovered by such insurance. Tenant shall not acquire as insured under any insurance carried on the Premises any right to participate in the adjustment of loss or to receive insurance proceeds and agrees upon request promptly to endorse and deliver
to 

  

 15 

	 	 
Landlord any checks or other instruments in payment of loss in which Tenant is named as payee. 

  

	 	4.2.5 	Utilities. Tenant shall pay all charges made by public authority or utility for the cost of electricity furnished or consumed on the Property, all charges for any
utilities supplied by Landlord to the Property pursuant to Subsection 5.1.1, and all charges for telephone and other utilities or services not supplied by Landlord pursuant to Subsection 5.1.1, whether designated as a charge, tax, assessment, fee or
otherwise, all such charges to be paid as the same from time to time become due. Except as otherwise provided in Article 5, it is understood and agreed that Tenant shall make its own arrangements for the installation or provision of all such
utilities and that Landlord shall be under no obligation to furnish any utilities to the Premises and shall not be liable for any interruption or failure in the supply of any such utilities to the Premises. 

  

	4.3	Late Payment of Rent. If any installment of rent is paid after the date the same was due, and if on a prior occasion in the twelve (12) month period prior to the
date such installment was due an installment of rent was paid after the same was due, then Tenant shall pay Landlord a late payment fee equal to five (5%) percent of the overdue payment. 

  

	4.4	Security and Restoration Deposit. Upon the execution of this Lease, Tenant shall deposit with Landlord the Security and Restoration Deposit. Upon the second
anniversary of the lease term, Tenant shall deposit with Landlord an additional security and restoration deposit equal to twenty-five thousand ($25,000.00) dollars, which additional deposit shall be added to and become a part of the Security and
Restoration Deposit. Said deposit shall be held by Landlord as security for the faithful performance by Tenant of all the terms of this Lease by said Tenant to be observed and performed. The security deposit shall not be mortgaged, assigned,
transferred or encumbered by Tenant without the written consent of Landlord and any such act on the part of Tenant shall be without force and effect and shall not be binding upon Landlord. 

 If the Fixed Rent or Additional Rent or any other sum payable hereunder shall be overdue and unpaid or should Landlord make payments on behalf of the
Tenant, or Tenant shall fail to perform any of the terms of this Lease, then Landlord may, at its option and without prejudice to any other remedy which Landlord may have on account thereof, appropriate and apply said entire deposit or so much
thereof as may be necessary to compensate Landlord toward the payment of Fixed Rent, Additional Rent or other sums or loss or damage sustained by Landlord due to such breach on the part of Tenant; and Tenant shall forthwith upon demand restore said
security to the original sum deposited. Should Tenant comply with all of said terms and promptly pay all of the rentals as they fall due and all other sums payable by Tenant to Landlord, said deposit shall be returned in full to Tenant at the end of
the term. 
 In the event of bankruptcy or other creditor-debtor proceedings against Tenant, all securities shall be deemed to be applied
first to the payment of rent and other charges due Landlord for all periods prior to the filing of such proceedings. 
  

 16 

 ARTICLE 5 
 Landlord’s Covenants 
  

	5.1	Affirmative Covenants. Landlord covenants with Tenant: 

  

	 	5.1.1 	Heat and Air-Conditioning. To furnish to the Premises, separately metered and at the direct expense of Tenant as hereinabove provided, heat and air-conditioning
(reserving the right, at any time, to change energy or heat sources) sufficient to maintain the Premises at comfortable temperatures (subject to all federal, state, and local regulations relating to the provision of heat), during such hours of the
day and days of the year that the Building is normally open. Tenant acknowledges that there is one separate meter for the Building and that although Tenant is occupying less than the entire Building for lease years 1-3, Tenant agrees that it shall
be responsible for paying all charges incurred pursuant to this section for the term of this Lease. 

  

	 	5.1.2 	Electricity. To furnish to the Premises, separately metered and at the direct expense of Tenant as hereinabove provided, reasonable electricity for Tenant’s
Permitted Uses. Tenant acknowledges that there is one separate meter for the Building and that although Tenant is occupying less than the entire Building for lease years 1-3, Tenant agrees that it shall be responsible for paying all charges incurred
pursuant to this section for the term of this Lease. If Tenant shall require electricity in excess of reasonable quantities for Tenant’s Permitted Uses and if (i) in Landlord’s reasonable judgment, Landlord’s facilities are
inadequate for such excess requirements, or (ii) such excess use shall result in an additional burden on the Building utilities systems and additional cost to Landlord on account thereof, as the case may be, (a) Tenant shall, upon demand,
reimburse Landlord for such additional cost, as aforesaid, or (b) Landlord, upon written request, and at the sole cost and expense of Tenant, will furnish and install such additional wire, conduits, feeders, switchboards and appurtenances as
reasonably may be required to supply such additional requirements of Tenant (if electricity therefor is then available to Landlord), provided that the same shall be permitted by applicable laws and insurance regulations and shall not cause permanent
damage or injury to the Building or cause or create a dangerous or hazardous condition or entail excessive or unreasonable alterations or repairs. 

  

	 	5.1.3 	Cleaning. To furnish water for ordinary cleaning, lavatory and toilet facilities. 

  

	 	5.1.4 	Fire Alarm. To maintain fire alarm systems within the Building. 

  

	 	5.1.5 	 Repairs. Except as otherwise expressly provided herein, to make such repairs and replacements to the roof, exterior walls, floor slabs and other
structural components of the Building, and to the common areas, facilities and plumbing, electrical, heating, ventilating and air-conditioning systems of the Building as may be necessary to keep them in good repair and condition (exclusive of
equipment installed by Tenant and repairs or replacements occasioned by any act 

  

 17 

	 	 
or negligence of Tenant, its servants, agents, customers, contractors, employees, invitees, or licensees). 

  

	5.2	Interruption. Landlord shall be under no responsibility or liability for failure or interruption of any of the above-described services, repairs or replacements caused
by breakage and accidents beyond the control of Landlord, strikes, repairs beyond the control of Landlord, inability to obtain supplies, labor or materials, or for any other causes beyond the control of the Landlord, and in no event for any indirect
or consequential damages to Tenant; and failure or omission on the part of the Landlord to furnish any of same for any of the reasons set forth in this paragraph shall not be construed as an eviction of Tenant, actual or constructive, nor entitle
Tenant to an abatement of rent, nor render the Landlord liable in damages, nor release Tenant from prompt fulfillment of any of its covenants under this Lease. 

  

	5.3	Intentionally Deleted. 

  

	5.4	Access. Tenant shall have access to the Premises at all times. 

  

	5.5	Landlord’s Insurance. Landlord shall take out and maintain throughout the term (i) all-risk casualty insurance in an amount equal to 100% of the replacement
cost of the Building, including the Tenant’s Work, but specifically excluding any other improvements installed by Tenant during the term, and (ii) comprehensive general liability insurance with respect to the Property in commercially
reasonable amounts. Landlord shall not be required to carry insurance of any kind on any improvements in the Premises installed at Tenant’s expense including, without limitation, the Tenant’s Work. 

  

	5.6	Condition of Premises. As of the date of this Lease, Landlord represents and warrants that (i) the Building is in compliance with the applicable local building
code but makes no representation or warranty as to whether the Building is in compliance with the Americans With Disabilities Act; and (ii) the heating, ventilation and air conditioning system and other mechanical systems serving the Building
are in serviceable working order. 

  

	5.7	 Landlord’s Indemnification. Landlord shall indemnify, defend and save Tenant harmless from and against all claims brought by, liability imposed
by, or loss or damage arising from the actions of (including the cost of any cleanup or remediation) a governmental authority having jurisdiction over the Property caused by a release or threat of release of Hazardous Materials (as defined in
Section 11.1 below) from or at the Property prior to the Commencement Date or, if after the Commencement Date, which is solely caused by Landlord’s use, storage or disposal of Hazardous Materials including, without limitation, liability
under any federal, state or local laws, requirements and regulations; provided, however, that this indemnity shall not apply (i) in the event Tenant uses, stores, handles, holds, transports or disposes at, on or under the Property the Hazardous
Materials which are the subject of such claim, liability, loss and/or damage, unless Tenant provides evidence satisfactory to Landlord that the Hazardous Materials which are the subject of such claim, liability, loss and/or damage are not caused by
or attributable in whole or in part to Tenant, (ii) in the event Tenant or its agents, employees or contractors causes or 

  

 18 

	 	 
contributes to the release or threat of release of Hazardous Materials, or (iii) to any claim brought or liability imposed under any law, regulation or
ordinance, or common law, arising out of any personal injury or damage suffered or alleged to have been suffered by Tenant’s employees, agents, invitees or contractors. The provisions of this Section 5.7 shall survive the expiration or
earlier termination of this Lease. 

  

	5.8	Adjacent Uses. Landlord shall not knowingly lease the vacant space in the Building adjacent to the Premises leased by Tenant during lease years 1-3 to another
tenant who actively uses and stores Hazardous Materials as a primary component of such tenant’s business operation, excluding, however, Hazardous Materials used or stored in connection with general office purposes (for example, and by way of
example only, customary office and cleaning supplies, or the toner and other fluids in a printing or facsimile machine). 

 ARTICLE 6 
 Tenant’s Additional Covenants 
  

	6.1	Affirmative Covenants. Tenant covenants at all times during the term and for such further time (prior or subsequent thereto) as Tenant occupies the Premises or any
part thereof. 

  

	 	6.1.1 	Perform Obligations. To perform promptly all of the obligations of Tenant set forth in this Lease; and to pay when due the Fixed Rent and Additional Rent and all
charges, rates and other sums which by the terms of this Lease are to be paid by Tenant. 

  

	 	6.1.2 	Use. To use the Premises only for the Permitted Uses, and from time to time to procure all licenses and permits necessary therefor, at Tenant’s sole expense. With
respect to any licenses or permits relating to or affecting the Property for which Tenant may apply, pursuant to this subsection 6.1.2 or any other provision hereof, Tenant shall furnish Landlord copies of applications therefor on or before their
submission to the governmental authority. 

  

	 	6.1.3 	 Repair and Maintenance. To maintain the Premises in neat order and condition and to perform all routine and ordinary repairs to the Premises and to
any plumbing, heating, electrical, ventilating and air-conditioning systems located within the Premises and installed by Tenant such as are necessary to keep them in good working order, appearance and condition, as the case may require, reasonable
use and wear thereof and damage by fire or by unavoidable casualty only excepted; to keep all glass in windows and doors of the Premises (except glass in the exterior walls of the Building) whole and in good condition with glass of the same quality
as that injured or broken; and to make as and when needed as a result of misuse by, or neglect or improper conduct of Tenant or Tenant’s servants, employees, agents, invitees or licensees or otherwise, all repairs necessary, which repairs and
replacements shall be in quality and class equal to the original work. (Landlord, upon default of Tenant hereunder and upon prior notice to Tenant, may elect, at the expense of Tenant, to perform all such cleaning 

  

 19 

	 	 
and maintenance and to make any such repairs or to repair any damage or injury to the Building or the Premises caused by moving property of Tenant in or out
of the Building, or by installation or removal of furniture or other property, or by misuse by, or neglect, or improper conduct of, Tenant or Tenant’s servants, employees, agents, contractors, customers, patrons, invitees, or licensees.)

  

	 	6.1.4 	Compliance with Law. To make all repairs, alterations, additions or replacements to the Premises required by any law or ordinance or any order or regulation of any
public authority; to keep the Premises equipped with all safety appliances so required; and to comply with the orders and regulations of all governmental authorities with respect to zoning, building, fire, health and other codes, regulations,
ordinances or laws applicable to the Premises, except that Tenant may defer compliance so long as the validity of any such law, ordinance, order or regulations shall be contested by Tenant in good faith and by appropriate legal proceedings, if
Tenant first gives Landlord appropriate assurance or security against any loss, cost or expense on account thereof. 

  

	 	6.1.5 	Indemnification. To save harmless, exonerate and indemnify Landlord, its agents (including, without limitation, Landlord’s managing agent) and employees (such
agents and employees being referred to collectively as the “Landlord Related Parties”) from and against any and all claims, liabilities or penalties asserted by or on behalf of any person, firm, corporation or public authority on account
of injury, death, damage or loss to person or property in or upon the Premises and the Property arising out of the use or occupancy of the Premises by Tenant or by any person claiming by, through or under Tenant (including, without limitation, all
patrons, employees and customers of Tenant), or arising out of any delivery to or service supplied to the Premises, or on account of or based upon anything whatsoever done on the Premises, except if the same was caused by the gross negligence, fault
or misconduct of Landlord or the Landlord Related Parties. In respect of all of the foregoing, Tenant shall indemnify Landlord and the Landlord Related Parties from and against all costs, expenses (including reasonable attorneys’ fees), and
liabilities incurred in or in connection with any such claim, action or proceeding brought thereon; and, in case of any action or proceeding brought against Landlord or the Landlord Related Parties by reason of any such claim, Tenant, upon notice
from Landlord and at Tenant’s expense, shall resist or defend such action or proceeding and employ counsel therefor reasonably satisfactory to Landlord. Landlord shall not settle any such claim without first consulting with Tenant and obtaining
the consent of Tenant, which consent shall not be unreasonably withheld, conditioned or delayed. 

  

	 	6.1.6 	 Landlord’s Right to Enter. Upon reasonable prior notice from Landlord (except in emergencies), to permit Landlord and its agents to enter into
and examine the Premises at reasonable times and to show the Premises (other than to prospective tenants, except as otherwise set forth in this Section 6.1.6), and to make repairs to the Premises, and, during the last six (6) months prior
to the expiration of this Lease, to show the Premises to prospective tenants’ and to keep affixed in suitable 

  

 20 

	 	 
places notices of availability of the Premises. Landlord shall use reasonable efforts to perform such showings during normal business hours.

  

	 	6.1.7 	Personal Property at Tenant’s Risk. All of the furnishings, fixtures, equipment, effects and property of every kind, nature and description of Tenant and of all
persons claiming by, through or under Tenant which, during the continuance of this Lease or any occupancy of the Premises by Tenant or anyone claiming under Tenant, may be on the Premises, shall be at the sole risk and hazard of Tenant and if the
whole or any part thereof shall be destroyed or damaged by fire, water or otherwise, or by the leakage or bursting of water pipes, steam pipes, or other pipes, by theft or from any other cause, no part of said loss or damage is to be charged to or
to be borne by Landlord, except that Landlord shall in no event be indemnified or held harmless or exonerated from any liability to Tenant or to any other person, for any injury, loss, damage or liability to the extent prohibited by law.

  

	 	6.1.8 	Payment of Landlord’s Cost of Enforcement. To pay on demand Landlord’s expenses, including reasonable attorneys’ fees, incurred in enforcing any
obligation of Tenant under this Lease or in curing any default by Tenant under this Lease as provided in Section 8.4. 

  

	 	6.1.9 	Yield Up. At the expiration of the term or earlier termination of this Lease: to surrender all keys to the Premises; to remove all of its trade fixtures and personal
property in the Premises; to deliver to Landlord stamped architectural plans showing the Premises at yield up (which may be the initial plans if Tenant has made no installations after the Commencement Date); to remove such installations made by it
as Landlord may request (including computer and telecommunications wiring and cabling, it being understood that if Tenant leaves such wiring and cabling in a useable condition, Landlord, although having the right to request removal thereof, is less
likely to so request) and all Tenant’s signs wherever located; to repair all damage caused by such removal and to yield up the Premises (including all installations and improvements made by Tenant except for trade fixtures and such of said
installations or improvements as Landlord shall request Tenant to remove), broom-clean and in the same good order and repair in which Tenant is obliged to keep and maintain the Premises, by the provisions of this Lease, loss by fire or other
casualty excepted. Any property not so removed shall be deemed abandoned and, if Landlord so elects, deemed to be Landlord’s property, and may be retained or removed and disposed of by Landlord in such manner as Landlord shall determine and
Tenant shall pay Landlord the entire cost and expense incurred by it in effecting such removal and disposition and in making any incidental repairs and replacements to the Premises and for use and occupancy during the period after the expiration of
the term and prior to its performance of its obligations under this subsection 6.1.9. Tenant shall further indemnify Landlord against all loss, cost and damage resulting from Tenant’s failure and delay in surrendering the Premises as above
provided. 

  

 21 

 If the Tenant remains in the Premises beyond the expiration or earlier termination of this Lease, such
holding over shall be without right and shall not be deemed to create any tenancy, but the Tenant shall be a tenant at sufferance only at a daily rate of rent equal to two (2) times the rent and other charges in effect under this Lease as of
the day prior to the date of expiration of this Lease. 
  

	 	6.1.10 	Rules and Regulations. To comply with the Rules and Regulations set forth in Exhibit E, and with all reasonable Rules and Regulations of general applicability to all
tenants of the Building hereafter made by Landlord, of which Tenant has been given notice; Landlord shall not be liable to Tenant for the failure of other tenants of the Building to conform to such Rules and Regulations. 

  

	 	6.1.11 	Estoppel Certificate. Upon not less than ten (10) business days’ prior written request by Landlord, to execute, acknowledge and deliver to Landlord a
statement in writing, which may be in the form attached hereto as Exhibit F or in another form reasonably similar thereto, or such other form as Landlord may provide from time to time, certifying, to the extent true and accurate, all or any of the
following: (i) that this Lease is unmodified and in full force and effect, (ii) whether the term has commenced and Fixed Rent and Additional Rent have become payable hereunder and, if so, the dates to which they have been paid,
(iii) whether or not Landlord is in default in performance of any of the terms of this Lease, (iv) whether Tenant has accepted possession of the Premises, (v) whether Tenant has made any claim against Landlord under this Lease and, if
so, the nature thereof and the dollar amount, if any, of such claim, (vi) whether there exist any offsets or defenses against enforcement of any of the terms of this Lease upon the part of Tenant to be performed, and (vii) such further
information with respect to the Lease or the Premises as Landlord may reasonably request. Any such statement delivered pursuant to this subsection 6.1.11 may be relied upon by any prospective purchaser or mortgagee of the Premises, or any
prospective assignee of such mortgage. Tenant shall also deliver to Landlord such financial information as may be reasonably required by Landlord to be provided to any mortgagee or prospective purchaser of the Premises, provided such mortgagee or
prospective purchaser first executes a non-disclosure agreement with Tenant reasonably acceptable to Tenant. 

  

	 	6.1.12 	Landlord’s Expenses Re Consents. To reimburse Landlord promptly on demand for all reasonable legal expenses incurred by Landlord in connection with all requests
by Tenant for consent or approval hereunder. 

  

	6.2	Negative Covenants. Tenant covenants at all times during the term and such further time (prior or subsequent thereto) as Tenant occupies the Premises or any part
thereof: 

  

	 	6.2.1 	 Assignment and Subletting. Not to assign, transfer, mortgage or pledge this Lease or to sublease (which term shall be deemed to include the granting
of concessions and licenses and the like) all or any part of the Premises or suffer or permit this Lease or the leasehold estate hereby created or any other rights arising under this Lease to be assigned, transferred or encumbered, in whole or in
part, whether 

  

 22 

	 	 
voluntarily, involuntarily or by operation of law, or permit the occupancy of the Premises by anyone other than Tenant without the prior written consent of
Landlord. In the event Tenant desires to assign this Lease or sublet any portion or all of the Premises, Tenant shall notify Landlord in writing of Tenant’s intent to so assign this Lease or sublet the Premises and the proposed effective date
of such subletting or assignment, and shall request in such notification that Landlord consent thereto. Landlord may terminate this Lease in the case of a proposed assignment, or suspend this Lease pro tanto for the period and with respect to the
spice involved in the case of a proposed subletting, by giving written notice of termination or suspension to Tenant, with such termination or suspension to be effective as of the effective date of such assignment or subletting. If Landlord does not
so terminate or suspend, Landlord’s consent shall not be unreasonably withheld, conditioned or delayed to an assignment or to a subletting, provided that the following conditions are met: 

  

	 	(i)	the assignee or subtenant shall use the Premises only for the Permitted Uses; 

  

	 	(ii)	the proposed assignee or subtenant has a net worth and creditworthiness reasonably acceptable to Landlord; and 

  

	 	(iii)	the proposed assignee or subtenant is not then a tenant in the Building or the Park, or an entity with which Landlord is negotiating or has negotiated within the preceding six
months regarding the possibility of leasing space in the Building or the Park. 

 Tenant shall furnish Landlord with any
information reasonably requested by Landlord to enable Landlord to determine whether the proposed assignment or subletting complies with the foregoing requirements, including without limitation, financial statements relating to the proposed assignee
or subtenant. 
 Tenant shall, as Additional Rent, reimburse Landlord promptly for Landlord’s reasonable legal expenses incurred in
connection with any request by Tenant for such consent. If Landlord consents thereto, no such subletting or assignment shall in any way impair the continuing primary liability of Tenant hereunder, and no consent to any subletting or assignment in a
particular instance shall be deemed to be a waiver of the obligation to obtain the Landlord’s written approval in the case of any other subletting or assignment. 
 If for any assignment or sublease consented to by Landlord hereunder Tenant receives rent or other consideration, either initially or over the term of the assignment or sublease, in excess of the rent called for
hereunder, or in case of sublease of part, in excess of such rent fairly allocable to the part, after appropriate adjustments to assure that all other payments called for hereunder are appropriately taken into account and after deduction for
reasonable marketing expenses of Tenant in connection with the assignment or sublease, to pay to Landlord as additional rent fifty (50%) percent of the excess of each such payment of rent or other consideration received by Tenant promptly after
its receipt. 
  

 23 

 Whenever Tenant lists with a broker or brokers or otherwise advertises, holds out or markets the Premises
or any part thereof for sublease or assignment, Tenant shall give Nordblom Company, as brokers, a non-exclusive listing with respect to such sublease or assignment. Landlord shall use reasonable efforts to cooperate with Tenant’s broker.

 If at any time during the term of this Lease, there is a name change, reformation or reorganization of the Tenant entity, Tenant shall so
notify Landlord and deliver evidence reasonably satisfactory to Landlord documenting such name change, reformation or reorganization. 
 Notwithstanding the foregoing provisions of Subsection 6.2.1, Tenant may assign this Lease or sublet the Premises or any portion thereof, without Landlord’s consent, to any corporation which controls or is controlled by Tenant, or to
any corporation into which or with which Tenant is merged or consolidated, or to any corporation which purchases all or substantially all of the assets of Tenant’s business, or to any corporation resulting from another form of corporate
reorganization, provided that (a) the assignee or sublessee agrees to assume and perform, in full, the obligations of Tenant under this Lease by written instrument reasonably satisfactory to Landlord (which instrument shall be delivered to
Landlord fifteen (15) days prior to the effective date of any such transaction), (b) Tenant remains fully and primarily liable under this Lease, (c) the use of the Premises remains unchanged, and (d) the successor to Tenant will
have on the effective date of the assignment or sublease a net worth at least equal to or greater than the net worth that Tenant had immediately prior to the merger, consolidation, acquisition, transfer or transaction permitted herein, and provided
further that proof satisfactory to Landlord of such net worth shall have been delivered to Landlord at least fifteen (15) days prior to the effective date of any such transaction. 
  

	 	6.2.2 	Nuisance. Not to injure, deface or otherwise harm the Premises; nor commit any nuisance; nor permit in the Premises any vending machine (except such as is used for the
sale of merchandise to employees of Tenant) or inflammable fluids or chemicals (except such as are customarily used in connection with standard office equipment); nor permit any cooking to such extent as requires special exhaust venting; nor permit
the emission of any objectionable noise or odor; nor make, allow or suffer any waste; nor make any use of the Premises which is improper, offensive or contrary to any law or ordinance or which will invalidate any of Landlord’s insurance; nor
conduct any auction, fire, “going out of business” or bankruptcy sales. 

  

	 	6.2.3 	Intentionally Deleted. 

  

 24 

	 	6.2.4 	Floor Load: Heavy Equipment. Not to place a load upon any floor of the Premises exceeding the floor load per square foot area which such floor was designed to carry
and which is allowed by law. Business machines and mechanical equipment which cause vibration or noise shall be placed and maintained by Tenant at Tenant’s expense in settings sufficient to absorb and prevent vibration, noise and annoyance.

  

	 	6.2.5 	Installation, Alterations or Additions. Not to make any installations, alterations or additions in, to or on the Premises nor to permit the making of any holes in the
walls, partitions, ceilings or floors nor the installation or modification of any locks or security devices without on each occasion obtaining the prior written consent of Landlord, and then only pursuant to plans and specifications approved by
Landlord in advance in each instance. Notwithstanding the foregoing, Tenant may, without the prior consent of Landlord, (a) paint and carpet the Premises and (b) make such other nonstructural, interior installations or alterations not
exceeding $5,000.00 in cost in the aggregate during any lease year, providing the same do not reduce the value of the Property or impair the structural integrity of the Building or the systems, mechanical or otherwise, serving the same, or involve
penetrations of the ceiling grid (or removal of the same), roof or exterior walls, and further provided that Tenant shall furnish Landlord with as built plans upon completion of such work. Tenant shall pay promptly when due the entire cost of any
work to the premises undertaken by Tenant so that the Premises shall at all times be free of liens for labor and materials, and at Landlord’s request Tenant shall furnish to Landlord a bond or other security acceptable to Landlord assuring that
any work commenced by Tenant will be completed in accordance with the plans and specifications theretofore approved by Landlord and assuring that the Premises will remain free of any mechanics’ lien or other encumbrance arising out of such
work. In any event, Tenant shall forthwith bond against or discharge any mechanics’ liens or other encumbrances that may arise out of such work. Tenant shall procure all necessary licenses and permits at Tenant’s sole expense before
undertaking such work. All such work shall be done in a good and workmanlike manner employing materials of good quality and so as to conform with all applicable zoning, building, fire, health and other codes, regulations, ordinances and laws. Tenant
shall save Landlord harmless and indemnified from all injury, loss, claims or damage to any person or property occasioned by or growing out of such work. 

 Not to grant a security interest in, or to lease, any personal property being installed in the Premises (including, without limitation, demountable partitions) without first obtaining an agreement, for the benefit of
Landlord, from the secured party or lessor that such property will be removed within ten (10) business days after notice from Landlord of the expiration or earlier termination of this Lease and that a failure to so remove will subject such
property to the provisions of subsection 6.1.9 of the Lease. Tenant shall have thirty (30) days from the date of this Lease to obtain the aforementioned agreement from any existing secured party or lessor. 
  

 25 

	 	6.2.6 	Abandonment. Not to abandon or vacate the Premises during the term. 

  

	 	6.2.7 	Signs. Not without Landlord’s prior written approval to paint or place any signs or place any curtains, blinds, shades, awnings, aerials, or the like, visible
from outside the Premises. Notwithstanding the foregoing, Tenant shall be permitted to place an identification sign on the Building at Tenant’s expense, in conformance with Northwest Park’s sign policy and all applicable laws, ordinances
and regulations and subject to Landlord’s prior approval (which shall not be unreasonably withheld or delayed). Such sign shall be maintained in good repair by Tenant at Tenant’s expense. 

  

	 	6.2.8 	Parking and Storage. Not to permit any storage of materials outside of the Premises; nor to permit the use of the parking areas for either temporary or permanent
storage of trucks; nor permit the use of the Premises for any use for which heavy trucking would be customary. 

 ARTICLE
7 
 Casualty or Taking 
  

	7.1	Termination. In the event that (a) the Premises or the Building, or any material part thereof, shall be taken by any public authority or for any public use, or
(b) the Premises shall be destroyed or damaged by fire or casualty, or by the action of any public authority to the extent of more than 25% of the rentable floor area of the Premises, then this Lease may be terminated at the election of
Landlord. Such election, which may be made notwithstanding the fact that Landlord’s entire interest may have been divested, shall be made by the giving of notice by Landlord to Tenant within sixty (60) days after the date of the taking or
casualty. In the event that the Premises, in whole or in part, are destroyed or damaged by fire or casualty, or by the action of public authority, and, in the reasonable opinion of an independent architect or engineer selected by Landlord, cannot be
repaired or restored within one hundred eighty (180) days from the date of the fire or casualty, then this Lease may be terminated at the election of Landlord or Tenant, which election shall be made by the giving of notice to the other party
within thirty (30) days after the date the opinion of the architect or engineer is made available to the parties. Notwithstanding the foregoing, in the event all or a material part of the Premises is taken by any public authority for any public
use, Tenant shall have the right to terminate this Lease by giving notice to Landlord and the Lease shall terminate as of the date of vesting of title in the condemning authority. 

  

	7.2	 Restoration. If Landlord or Tenant does not elect to so terminate, this Lease shall continue in force and a just proportion of the rent reserved,
according to the nature and extent of the damages sustained by the Premises, shall be suspended or abated until the Premises, or what may remain thereof, shall be put by Landlord in proper condition for use, which Landlord covenants to do with
reasonable diligence to the extent permitted by the net proceeds of insurance recovered or damages awarded for such taking, destruction or damage and subject to zoning and building laws or ordinances then in existence. “Net proceeds of
insurance recovered or damages awarded” refers to the gross amount of such 

  

 26 

	 	 
insurance or damages less the reasonable expenses of Landlord incurred in connection with the collection of the same, including without limitation, fees and
expenses for legal and appraisal services. If Landlord shall not have restored the Premises within one hundred eighty (180) days from the taking or casualty, Tenant shall have the right to terminate this Lease by giving notice of such
termination to Landlord, effective at the expiration of thirty (30) days from the giving of such notice; provided however, that such termination will be rendered ineffective if, prior to the expiration of said 30-day period, Landlord shall have
completed such restoration. 

  

	7.3	Award. Irrespective of the form in which recovery may be had by law, all rights to damages or compensation shall belong to Landlord in all cases, except for
Tenant’s insurance proceeds allocable to personal property and business loss and, in the case of a taking by a public authority, awards made to Tenant for its personal property, fixtures and moving expenses. Except for such awards, Tenant
hereby grants to Landlord all of Tenant’s rights to such damages and covenants to deliver such further assignments thereof as Landlord may from time to time request. 

  

	7.4	Disbursement of Insurance Proceeds. That parties agree that Tenant’s property insurance on any improvements in the Premises installed by or on behalf of Tenant
shall be adjusted and disbursed in accordance with this subsection 7.4. If a fire or other casualty occurs and this Lease is not terminated as a result thereof, the Tenant’s insurance shall be adjusted by Tenant and the proceeds thereof shall
be paid to Landlord to fund the Landlord’s restoration work. If the Lease is terminated as a result of a fire or other casualty, then Tenant’s insurance shall be adjusted and the proceeds thereof shall be paid to Tenant, provided, however,
that Tenant agrees to pay Landlord for Landlord’s share of the insurance proceeds attributable to the improvements in the Premises installed by or on behalf of Tenant not yet paid for by Tenant at the time of such fire or casualty.

 ARTICLE 8 
 Defaults 
  

	8.1	 Events of Default. (a) If Tenant shall default in the performance of any of its obligations to pay the Fixed Rent, Additional Rent or any other
sum due Landlord hereunder and if such default shall continue for ten (10) days after written notice from Landlord designating such default or if within thirty (30) days after written notice from Landlord to Tenant specifying any other
default or defaults Tenant has not commenced diligently to correct the default or defaults so specified or has not thereafter diligently pursued such correction to completion, or (b) if any assignment shall be made by Tenant or any guarantor of
Tenant for the benefit of creditors, or (c) if Tenant’s leasehold interest shall be taken on execution, or (d) if a lien or other involuntary encumbrance is filed against Tenant’s leasehold interest or Tenant’s other
property, including said leasehold interest, and is not discharged within ten (10) days thereafter, or (e) if a petition is filed by Tenant or any guarantor of Tenant for liquidation, or for reorganization or an arrangement under any
provision of any bankruptcy law or code as then in force and effect, or (f) if an involuntary petition under any of the provisions of any bankruptcy law or code is filed against Tenant or any guarantor of Tenant and such involuntary petition is
not dismissed 

  

 27 

	 	 
within thirty (30) days thereafter, then, and in any of such cases, Landlord and the agents and servants of Landlord lawfully may, in addition to and
not in derogation of any remedies for any preceding breach of covenant, immediately or at any time thereafter without demand or notice enter into and upon the Premises or any part thereof in the name of the whole or mail a notice of termination
addressed to Tenant, and repossess the same as of landlord’s former estate and expel Tenant and those claiming through or under Tenant and remove its and their effects without being deemed guilty of any manner of trespass and without prejudice
to any remedies which might otherwise be used for arrears of rent or prior breach of covenants, and upon such entry or mailing as aforesaid this Lease shall terminate, Tenant hereby waiving all statutory rights to the Premises (including without
limitation rights of redemption, if any, to the extent such rights may be lawfully waived) and Landlord, without notice to Tenant, may store Tenant’s effects, and those of any person claiming through or under Tenant, at the expense and risk of
Tenant, and, if Landlord so elects, may sell such effects at public auction or private sale and apply the net proceeds to the payment of all sums due to Landlord from Tenant, if any, and pay over the balance, if any, to Tenant. Landlord shall use
reasonable efforts to provide Tenant with thirty (30) days prior notice of any such auction or private sale. 

  

	8.2	Remedies. In the event that this Lease is terminated under any of the provisions contained in Section 8.1 or shall be otherwise terminated for breach of any
obligation of Tenant, Tenant covenants to pay forthwith to Landlord, as compensation, the excess of the total rent reserved for the residue of the term over the rental value of the Premises for said residue of the term. In calculating the rent
reserved there shall be included, in addition to the Fixed Rent and Additional Rent, the value of all other considerations agreed to be paid or performed by Tenant for said residue. Tenant further covenants as additional and cumulative obligations
after any such termination, to pay punctually to Landlord all the sums and to perform all the obligations which Tenant covenants in this Lease to pay and to perform in the same manner and to the same extent and at the same time as if this Lease had
not been terminated. In calculating the amounts to be paid by Tenant pursuant to the next preceding sentence Tenant shall be credited with any amount paid to Landlord as compensation as in this Section 8.2 provided and also with the net
proceeds of any rent obtained by Landlord by reletting the Premises, after deducting all Landlord’s expense in connection with such reletting, including, without limitation, all repossession costs, brokerage commissions, fees for legal services
and expenses of preparing the Premises for such reletting, it being agreed by Tenant that Landlord may (i) relet the Premises or any part or parts thereof, for a term or terms which may at Landlord’s option be equal to or less than or
exceed the period which would otherwise have constituted the balance of the term and may grant such concessions and free rent as Landlord in its sole judgment considers advisable or necessary to relet the same and (ii) make such alterations,
repairs and decorations in the Premises as Landlord in its sole judgment considers advisable or necessary to relet the same, and no action of Landlord in accordance with the foregoing or failure to relet or to collect rent under reletting shall
operate or be construed to release or reduce Tenant’s liability as aforesaid. 

 Nothing contained in this Lease shall,
however, limit or prejudice the right of Landlord to prove for and obtain in proceedings for bankruptcy or insolvency by reason pf the termination of this Lease, an amount equal to the maximum allowed by any statute or rule 

  

 28 

 
of law in effect at the time when, and governing the proceedings in which, the damages are to be proved, whether or not the amount be greater than, equal to,
or less than the amount of the loss or damages referred to above. 
  

	8.3	Remedies Cumulative. Any and all rights and remedies which Landlord may have under this Lease, and at law and equity, shall be cumulative and shall not be deemed
inconsistent with each other, and any two or more of all such rights and remedies may be exercised at the same time insofar as permitted by law. 

  

	8.4	Landlord’s Right to Cure Defaults. Landlord may, but shall not be obligated to, cure, at any time, without notice, any default by Tenant under this Lease; and
whenever Landlord so elects, all costs and expenses incurred by Landlord, including reasonable attorneys’ fees, in curing a default shall be paid, as Additional Rent, by Tenant to Landlord on demand, together with lawful interest thereon from
the date of payment by Landlord to the date of payment by Tenant. 

  

	8.5	Effect of Waivers of Default. Any consent or permission by Landlord to any act or omission which otherwise would be a breach of any covenant or condition herein, shall
not in any way be held or construed (unless expressly so declared) to operate so as to impair the continuing obligation of any covenant or condition herein, or otherwise, except as to the specific instance, operate to permit similar acts or
omissions. 

  

	8.6	No Waiver, etc. The failure of Landlord to seek redress for violation of, or to insist upon the strict performance of, any covenant or condition of this Lease shall
not be deemed a waiver of such violation nor prevent a subsequent act, which would have originally constituted a violation, from having all the force and effect of an original violation. The receipt by Landlord of rent with knowledge of the breach
of any covenant of this Lease shall not be deemed to have been a waiver of such breach by Landlord. No consent or waiver, express or implied, by Landlord to or of any breach of any agreement or duty shall be construed as a waiver or consent to or of
any other breach of the same or any other agreement or duty. 

  

	8.7	No Accord and Satisfaction. No acceptance by Landlord of a lesser sum than the Fixed Rent, Additional Rent or any other charge then due shall be deemed to be other
than on account of the earliest installment of such rent or charge due, nor shall any endorsement or statement on any check or any letter accompanying any check or payment as rent or other charge be deemed an accord and satisfaction, and Landlord
may accept such check or payment without prejudice to Landlord’s right to recover the balance of such installment or pursue any other remedy in this Lease provided. 

 ARTICLE 9 
 Rights of Mortgage Holders 
  

	9.1	 Rights of Mortgage Holders. The word “mortgage” as used herein includes mortgages, deeds of trust or other similar instruments evidencing
other voluntary liens or encumbrances, and modifications, consolidations, extensions, renewals, replacements and 

  

 29 

	 	 
substitutes thereof. The word “holder” shall mean a mortgagee, and any subsequent holder or holders of a mortgage. Until the holder of a mortgage
shall enter and take possession of the Property for the purpose of foreclosure, such holder shall have only such rights of Landlord as are necessary to preserve the integrity of this Lease as security. Upon entry and taking possession of the
Property for the purpose of foreclosure, such holder shall have all the rights of Landlord. No such holder of a mortgage shall be liable either as mortgagee or as assignee, to perform, or be liable in damages for failure to perform, any of the
obligations of Landlord unless and until such holder shall enter and take possession of the Property for the purpose of foreclosure. Upon entry for the purpose of foreclosure, such holder shall be liable to perform all of the obligations of
Landlord, subject to and with the benefit of the provisions of Section 10.4, provided that a discontinuance of any foreclosure proceeding shall be deemed a conveyance under said provisions to the owner of the equity of the Property.

 The covenants and agreements contained in this Lease with respect to the rights, powers and benefits of a holder of a
mortgage (particularly, without limitation thereby, the covenants and agreements contained in this Section 9.1) constitute a continuing offer to any person, corporation or other entity, which by accepting a mortgage subject to this Lease,
assumes the obligations herein set forth with respect to such holder; such holder is hereby constituted a party of this Lease as an obligee hereunder to the same extent as though its name were written hereon as such; and such holder shall be
entitled to enforce such provisions in its own name. Tenant agrees on request of Landlord to execute and deliver from time to time any agreement which may be necessary to implement the provisions of this Section 9.1. 
  

	9.2	 Lease Superior or Subordinate to Mortgages. It is agreed that the rights and interest of Tenant under this Lease shall be (i) subject or
subordinate to any present or future mortgage or mortgages and to any and all advances to be made thereunder, and to the interest of the holder thereof in the Premises or any property of which the Premises are a part if Landlord shall elect by
notice to Tenant to subject or subordinate the rights and interest of Tenant under this Lease to such mortgage or (ii) prior to any present or future mortgage or mortgages, if Landlord shall elect, by notice to Tenant, to give the rights and
interest of Tenant under this Lease priority to such mortgage; in the event of either of such elections and upon notification by Landlord to that effect, the rights and interest of Tenant under this Lease should be deemed to be subordinate to, or
have priority over, as the case may be, said mortgage or mortgages, irrespective of the time of execution or time of recording of any such mortgage or mortgages (provided that, in the case of subordination of this Lease to any future mortgages, the
holder thereof agrees not to disturb the possession of Tenant so long as Tenant is not in default hereunder and Tenant and the holder execute a commercially reasonable subordination, non-disturbance and attornment agreement in the holder’s
usual and customary form). Tenant agrees it will, upon not less than ten (10) days’ prior written request by Landlord, execute, acknowledge and deliver any and all commercially reasonable instruments deemed by Landlord necessary or
desirable to give effect to or notice of such subordination or priority. Any Mortgage to which this Lease shall be subordinated may contain such terms, provisions and conditions as the holder deems usual or customary. Landlord shall use reasonable

  

 30 

	 	 
efforts to obtain a so-called non-disturbance agreement for the benefit of Tenant from its current lender in said lender’s usual and customary form.

 ARTICLE 10 
 Miscellaneous Provisions 
  

	10.1	Notices from One Party to the Other. All notices required or permitted hereunder shall be in writing and addressed, if to the Tenant, at the Original Notice Address of
Tenant or such other address as Tenant shall have last designated by notice in writing to Landlord and, if to Landlord, at the Original Notice Address of Landlord or such other address as Landlord shall have last designated by notice in writing to
Tenant. Any notice shall be deemed duly given when mailed to such address postage prepaid, by registered or certified mail, return receipt requested, or when delivered to such address by hand. 

  

	10.2	Quiet Enjoyment. Landlord agrees that upon Tenant’s paying the rent and performing and observing the agreements, conditions and other provisions on its part to be
performed and observed, Tenant shall and may peaceably and quietly have, hold and enjoy the Premises during the term hereof without any manner of hindrance or molestation from Landlord or anyone claiming under Landlord, subject, however, to the
terms of this Lease. 

  

	10.3	Lease not to be Recorded. Tenant agrees that it will not record this Lease. Both parties shall, upon the request of either, execute and deliver a notice or short form
of this Lease in such form, if any, as may be permitted by applicable statute. 

  

	10.4	Limitation of Landlord’s Liability. The term “Landlord” as used in this Lease, so far as covenants or obligations to be performed by Landlord are
concerned, shall be limited to mean and include only the owner or owners at the time in question of the Property, and in the event of any transfer or transfers of title to said property, the Landlord (and in case of any subsequent transfers or
conveyances, the then grantor) shall be concurrently freed and relieved from and after the date of such transfer or conveyance, without any further instrument or agreement of all liability as respects the performance of any covenants or obligations
on the part of the Landlord contained in this Lease thereafter to be performed, it being intended hereby that the covenants and obligations contained in this Lease on the part of Landlord, shall, subject as aforesaid, be binding on the Landlord, its
successors and assigns, only during and in respect of their respective successive periods of ownership of said leasehold interest or fee, as the case may be. Tenant, its successors and assigns, shall not assert nor seek to enforce any claim for
breach of this Lease against any of Landlord’s assets other than Landlord’s interest in the Property and in the rents, issues and profits thereof, and Tenant agrees to look solely to such interest for the satisfaction of any liability or
claim against Landlord under this Lease, it being specifically agreed that in no event whatsoever shall Landlord (which term shall include, without limitation, any general or limited partner, trustees, beneficiaries, officers, directors, or
stockholders of Landlord) ever be personally liable for any such liability. 

  

 31 

	10.5	Acts of God. In any case where either party hereto is required to do any act, delays caused by or resulting from Acts of God, war, civil commotion, fire, flood or
other casualty, labor difficulties, shortages of labor, materials or equipment, government regulations, unusually severe weather, or other causes beyond such party’s reasonable control shall not be counted in determining the time during which
work shall be completed, whether such time be designated by a fixed date, a fixed time or a “reasonable time,” and such time shall be deemed to be extended by the period of such delay. 

  

	10.6	Landlord’s Default. Landlord shall not be deemed to be in default in the performance of any of its obligations hereunder unless it shall fail to perform such
obligations and such failure shall continue for a period of thirty (30) days or such additional time as is reasonably required to correct any such default after written notice has been given by Tenant to Landlord specifying the nature of
Landlord’s alleged default. Landlord shall not be liable in any event for incidental or consequential damages to Tenant by reason of Landlord’s default, whether or not notice is given. Tenant shall have no right to terminate this Lease for
any default by Landlord hereunder and no right, for any such default, to offset or counterclaim against any rent due hereunder. 

  

	10.7	Brokerage. Tenant warrants and represents that it has dealt with no broker in connection with the consummation of this Lease, other than Nordblom Company and GVA
Thompson Doyle Hennessey & Stevens (the “Brokers”), and in the event of any brokerage claims, other than by the Brokers, against Landlord predicated upon prior dealings with Tenant, Tenant agrees to defend the same and indemnify
and hold Landlord harmless against any such claim. Landlord warrants and represents that it has dealt with no broker in connection with the consummation of this Lease, other than the Brokers, and in the event of any brokerage claims, other than by
the Brokers, against Tenant predicated upon prior dealings with Landlord, Landlord agrees to defend the same and indemnify and hold Tenant harmless against any such claim. 

  

	10.8	Applicable Law and Construction. This Lease shall be governed by and construed in accordance with the laws of the Commonwealth of Massachusetts and, if any provisions
of this Lease shall to any extent be invalid, the remainder of this Lease shall not be affected thereby. There are no oral or written agreements between Landlord and Tenant affecting this Lease. This Lease may be amended, and the provisions hereof
may be waived or modified, only by instruments in writing executed by Landlord and Tenant. The titles of the several Articles and Sections contained herein are for convenience only and shall not be considered in construing this Lease. Unless
repugnant to the context, the words “Landlord” and “Tenant” appearing in this Lease shall be construed to mean those named above and their respective heirs, executors, administrators, successors and assigns, and those claiming
through or under them respectively. If there be more than one tenant, the obligations imposed by this Lease upon Tenant shall be joint and several. 

  

 32 

 ARTICLE 11 
 Hazardous Materials 
  

	11.1	No Releases of Hazardous Materials. Tenant covenants and agrees not to use, release, dispose, manufacture, store, or transport any Hazardous Materials (hereinafter
defined) at, on, under or from the Premises and the Property except in compliance with any and all laws, regulations, ordinances or orders promulgated, and as may be amended, by any governmental authority having jurisdiction over the Hazardous
Materials or the Property (collectively, “Legal Requirements”), and except for those Hazardous Materials used in the ordinary course of Tenant’s business, but only in compliance with all applicable Legal Requirements and any
reasonable requirements of Landlord (such as requirements for fencing or other locked enclosures). Tenant shall comply with all governmental reporting requirements with respect to Hazardous Materials and all chemicals and flammable substances (in
whatever form) used by Tenant in its business operations, and shall deliver to Landlord copies of all such reports. In the event that a release or threat of release of Hazardous Materials occurs at, from or upon the Premises or Property during the
term of this Lease, Tenant shall at its expense perform all actions required under any and all applicable Legal Requirements to assess, contain, remove or respond to such release or threat of release; provided, however, that Tenant’s work or
actions hereunder shall be subject to Landlord’s prior approval, which approval shall not be unreasonably withheld. Notwithstanding the foregoing sentence, in the event of an environmental emergency whereby a governmental authority having
jurisdiction has directed or Legal Requirements specify Tenant to take immediate action to report and/or to contain, remove or respond to a release or threat of release, and provided Tenant has used reasonable efforts to contact Landlord for
approval as aforesaid and Landlord has failed to timely respond to Tenant, Tenant shall be permitted to take such immediate action and shall use best efforts to inform Landlord of the actions so taken, it being understood and agreed that any further
actions beyond the emergency action shall still require Landlord’s approval as aforesaid. The term “Hazardous Materials” shall mean any and all materials defined or classified as “hazardous materials” “hazardous
waste,” “hazardous substance,” “toxic substance,” “hazardous pollutant,” “toxic pollutant” or “oil” under 42 U.S.C. §9601 et. seq. (CERCLA), 42 U.S.C. §6901 et. seq. (RCRA), M.G.L. c.
21C or M.G.L. c. 21E and any regulations promulgated pursuant to those statutes, all as amended. 

  

	11.2	Notices of Release of Hazardous Materials. Tenant shall promptly notify Landlord in writing of all spills, releases or threat of release of Hazardous Materials caused
by or involving Tenant or its business operations, and all notices, orders, fines or communications of any kind received by Tenant from any governmental authority or third party concerning the presence or suspected presence of Hazardous Materials on
the Premises or the Property, the migration or suspected migration of Hazardous Materials from the Premises or the Property to other property, or the migration or suspected migration of Hazardous Materials from other property to the Premises or the
Property. 

  

	11.3	 Landlord’s Right to Inspect. Landlord, its officers, employees, contractors and agents shall have the right, but not the duty, to inspect areas
of the Premises, Building and Property to determine whether Tenant is complying with CERCLA, RCRA, Chapter 21C, 

  

 33 

	 	 
Chapter 21E, and other state and federal environmental laws, or regulations promulgated pursuant to any of the foregoing, as amended. Landlord shall use
reasonable efforts to minimize interference with Tenant’s business, but shall not be liable for any interference caused thereby, provided Landlord shall have used such reasonable efforts. Landlord shall use reasonable efforts to perform such
inspections pursuant to this Section 11.3 during normal business hours. 

  

	11.4	Landlord’s Right to Audit. Tenant shall permit Landlord, its employees and its agents (including its environmental consultant), access to all areas of the
Premises for the purposes of conducting an environmental assessment or inspection during regular business hours, or during other hours either by agreement of the parties or in the event of an environmental emergency. In the event Landlord shall
exercise its rights under this Section 11.4, (i) Landlord shall use reasonable efforts to minimize interference with Tenant’s business, but shall not be liable for any interference caused thereby, provided Landlord shall have used
such reasonable efforts; and (ii) except in the case of an environmental emergency, Landlord shall exercise said assessment or inspection right no more than one time during any 12 month period of the term, provided, however, that said
limitation of one audit every 12 months (a) shall not apply and be counted towards any assessments or inspections required by any lender of Landlord; and (b) shall be deemed void and of no force and effect in the event Landlord has a
reasonable belief that a release or threat of release of Hazardous Materials or a violation of a Legal Requirement existed or exists at, on, under or from the Premises or the Property. 

  

	11.5	Tenant Audit. Landlord shall have the right, from time to time, during the term of this Lease (provided that Landlord has a reasonable belief that Hazardous Materials
are present on the Property and are in violation of any Legal Requirements and has delivered to Tenant evidence to support such belief) and upon the expiration of the term of this Lease, to require that Tenant hire, and in such event, Tenant shall
at its own expense hire, an environmental consultant satisfactory to Landlord to undertake an environmental assessment, inspection and/or sampling at the Property to determine whether Hazardous Materials have been released during the term of the
Lease. 

  

	11.6	Remediation. Should the assessment, inspection or sampling performed pursuant to Sections 11.4 or 11.5 above, or any other assessment, inspection or sampling, reveal
that there has been a release or threat of release of Hazardous Materials by Tenant or its employees, agents or contractors, then Tenant shall, at its expense, undertake all response actions required by Landlord or any Legal Requirement, and Tenant
shall promptly thereafter restore any areas damaged or affected by such response actions. 

  

	11.7	 Tenant’s Reporting Requirements; Management and Safety Plan. Upon the execution of this Lease, Tenant shall submit to Landlord a list that
specifies the materials that Tenant will use or store on the Premises in the ordinary course of its business. Tenant shall provide Landlord with an updated list every twelve (12) months. Any additions to said list will be subject to the
approval of Landlord, which shall not be unreasonably withheld or delayed, provided, however, that Landlord’s approval shall not be required if said materials are being used solely and exclusively by Tenant and in connection with the research
and development and manufacturing of medical devices. In all other cases, 

  

 34 

	 	 
Landlord’s approval shall be required. Within thirty (30) days after the Date of this Lease, Tenant shall at its expense prepare and deliver to
Landlord and Landlord’s environmental consultant for their review and approval a so-called “Chemical Management and Facility Safety Plan” (the “Plan”). Tenant shall amend the Plan if requested by Landlord. Tenant shall
operate its business at the Premises in accordance with the procedures and practices set forth in said Plan, and shall promptly remedy from time to time any practices, procedures or conditions, at Tenant’s expense, that violate, or which in the
reasonable judgment of Landlord or its consultant, would with the passage of time violate, the provisions of this Article 11. 

  

	11.8	Indemnification. Tenant agrees to indemnify and save Landlord harmless from all claims, liability, loss or damage arising on account of the use, release, threat of
release, holding, handling, transport, storage, or disposal of Hazardous Materials by Tenant, its employees, agents or contractors at, on, upon or from the Premises or Property from and after the Date of this Lease, including, without limitation,
liability under any federal, state, or local laws, requirements and regulations, or damage to any of the systems of the Building or the Property. The provisions of this Section 11.8 shall survive the expiration or earlier termination of this
Lease. 

  

	11.9	Notice to Tenant. Landlord shall use reasonable efforts to notify Tenant of any release of Hazardous Materials by any other tenants of the Park on any properties owned
by Landlord which abut the Property provided Landlord first has knowledge of the same. 

  

	11.10  	Delivery of Reports. Tenant acknowledges and agrees that Landlord has furnished to Tenant (a) a letter dated March 11, 2003 from GEI Consultants, Inc. to
Nordblom Management Company regarding “Property Status Update: Building 5, 63 Second Avenue, Northwest Park, Burlington, Massachusetts”; (b) a Preliminary Environmental Site Assessment Update dated July 30, 1997 regarding
Building 5, 63 Second Avenue, Northwest Park, Burlington, Massachusetts; and (c) an asbestos report to be prepared by Smith & Wessel Associates, Inc. (the “Asbestos Report”) (collectively, (a) - (c) are hereinafter referred
to as the “Environmental Reports”). Landlord represents to Tenant that Landlord has no knowledge of any release or threat of release of Hazardous Materials on the Premises other than what is described and set forth in the Environmental
Reports. 

  

	11.11  	Asbestos. Landlord shall be responsible at its sole cost and expense for removing or encapsulating asbestos, if any, found in the Building, if such removal or
encapsulation is recommended by the Asbestos Report (the “Asbestos Work”). In the event Tenant is actually delayed in completing Tenant’s Work and occupying the Premises by June 1, 2003 solely as a result of Landlord performing
the Asbestos Work, the Rent Commencement Date shall be postponed by one (1) day for each day of delay directly caused by Landlord’s performance of the Asbestos Work. 

  

 35 

 WITNESS the execution hereof under seal on the day and year first above written: 
  

			
	 Landlord:

	
	/s/    ROGER P. NORDBLOM
	 As Trustee, but not individually

	
	/s/    PETER C. NORDBLOM
	 As Trustee, but not individually

	
	 Tenant:

		
	By:	 	/S/    TRENT G. KAMKE        
	 Name:
	 	 Trent G. Kamke

	 Its:
	 	 Vice President — Operations

		
	By:	 	/S/    DAVID ROBERTS        
	 Name:
	 	 David Roberts

	 Its:
	 	 CFO

  

 36 

 EXHIBIT A 
 PLAN SHOWING THE PREMISES 
 

 
  

 37 

 EXHIBIT B 
 COMMENCEMENT DATE NOTIFICATION 
 To:___________________________ 
                         (Tenant) 
 ___________________ (“Landlord”) and ___________________ (“Tenant”) are parties to a lease (“Lease”) dated ______________________ of premises in a building known as
______________________, Massachusetts. Landlord hereby notifies Tenant that the term of the Lease commenced on and will end on _________________________ and that the first lease year commenced on _____________ and will end on ________________.
Although not required for this notification to be effective, we would appreciate your confirming the foregoing by signing the enclosed copy of this letter and returning it to us. 
  

			
	
	  
	 (Landlord)

		
	By:	 	  
		 	

 Confirmed: 
  

			
	
	  
	 (Tenant)

  

			
		
	By:	 	  

  

 38 

 EXHIBIT E 
 RULES AND REGULATIONS 
  

	1.	The sidewalks, entrances, passages, corridors, vestibules, halls, elevators, or stairways in or about the Building shall not be obstructed by Tenant. 

  

	2.	Tenant shall not place objects against glass partitions, doors or windows which would be unsightly from the Building corridor or from the exterior of the Building.

  

	3.	If Tenant’s use of the Premises causes any increase above normal insurance premiums on the Building, Tenant shall be responsible for and pay to Landlord the amount of any
increase in the insurance premiums. 

  

	4.	No vehicles or animals of any kind shall be brought into or kept in or about the Premises. No space in the Building shall be used for the sale of merchandise of any kind at auction
or for storage thereof preliminary to such sale. 

  

	5.	Tenant shall cooperate with Landlord in minimizing loss and risk thereof from fire and associated perils. 

  

	6.	The water and wash closets and other plumbing fixtures shall not be used for any purposes other than those for which they were designed and constructed and no sweepings, rubbish,
rags, acid or like substance shall be deposited therein. All damages resulting from any misuse of the fixtures shall be borne by the Tenant. 

  

	7.	Landlord reserves the right to establish, modify, and enforce reasonable parking rules and regulations, provided such rules and obligations do not diminish Tenant’s rights
under the Lease. 

  

	8.	Landlord reserves the right at any time to rescind, alter or waive any rule or regulation at any time prescribed for the Building and to impose additional reasonable rules and
regulations when in its judgment deems it necessary, desirable or proper for its best interest and for the best interest of the tenants and no alteration or waiver of any rule or regulation in favor of one tenant shall operate as an alteration or
waiver in favor of any other tenant, provided such rules and regulations do not diminish Tenant’s rights under the Lease. Landlord shall not be responsible to any tenant for the nonobservance or violation by any other tenant however resulting
of any rules or regulations at any time prescribed for the Building. 

  

	9.	Tenant acknowledges that the Building has been designated a non-smoking building. At no time shall Tenant permit its agents, employees, contractors, guests or invitees to smoke in
the Building or, except in specified locations, directly outside the Building. 

  

 39 

 EXHIBIT F 
 TENANT ESTOPPEL CERTIFICATE 
 TO: ___________________________ (“Mortgagee” or “Purchaser”)

 THIS IS TO CERTIFY THAT: 
 1. The undersigned is the tenant (the “Tenant”) under that certain lease (the “Lease”) dated _______________, 20__, by and between ________________ as landlord (the “Landlord”), and the
undersigned, as Tenant, covering those certain premises commonly known and designated as ______________ (the “Premises”) in the building located at ______________, _______________, Massachusetts. 
 2. The Lease is attached hereto as Exhibit A and (i) constitutes the entire agreement between the undersigned and the Landlord with respect to the
Premises, (ii) is the only Lease between the undersigned and the Landlord affecting the Premises and (iii) has not been modified, changed, altered or amended in any respect, except (if none, so state): 
      ________________________________________________________ 
      ________________________________________________________ 
      ________________________________________________________ 
 3. The undersigned has accepted and now occupies the Premises as of the date hereof, and all improvements, if any, required by the terms of the Lease to
be made by the Landlord have been completed and all construction allowances to be paid by Landlord have been paid. In addition, the undersigned has made no agreement with Landlord or any agent, representative or employee of Landlord concerning free
rent, partial rent, rebate of rental payments or any other type of rental or other economic inducement or concession except (if none, so state): 
      ________________________________________________________ 
     
________________________________________________________ 
      ________________________________________________________

  

	 	4.      1.	The term of the Lease began (or is scheduled to begin) on ________________, 20__ and will expire on ______________, 20__; 

  

	 	2.	The fixed rent for the Premises has been paid to and including _________________, 20__; 

  

	 	3.	The fixed rent being paid pursuant to the Lease is at the annual rate of $_________________; and 

  

	 	4.	The escalations payable by Tenant under the Lease are currently $            , based on a pro rata share of _____%, and
have been reconciled through _____________, 20__. 

  

 40 

 5. (i) No party to the Lease is in default, (ii) the Lease is in full force and effect,
(iii) the rental payable under the Lease is accruing to the extent therein provided thereunder, (iv) as of the date hereof the undersigned has no charge, lien or claim of off-set (and no claim for any credit or deduction) under the Lease
or otherwise, against rents or other charges due or to become due thereunder or on account of any prepayment of rent more than one (1) month in advance of its due date, and (v) Tenant has no claim against Landlord for any security, rental,
cleaning or other deposits, except (if none, so state): 
      ________________________________________________________

      ________________________________________________________ 
 6. Since the date of the Lease there are no actions, whether voluntary or otherwise, pending against the undersigned under the bankruptcy,
reorganization, arrangement, moratorium or similar laws of the United States, any state thereof of any other jurisdiction. 
 7. Tenant has
not sublet, assigned or hypothecated or otherwise transferred all or any portion of Tenant’s leasehold interest. 
 8. Neither Tenant
nor Landlord has commenced any action or given or received any notice for the purpose of terminating the Lease, nor does Tenant have any right to terminate the Lease, except (if none, so state): 
      ________________________________________________________ 
      ________________________________________________________ 
      ________________________________________________________ 
 9. Tenant has no option or preferential right to purchase all or any part of the Premises (or the real property of which the Premises are a part) nor any
right or interest with respect to the Premises or the real property of which the Premises are a part. Tenant has no right to renew or extend the term of the Lease or expand the Premises except (if none, so state): 
      ________________________________________________________ 
      ________________________________________________________ 
      ________________________________________________________ 
 10. The undersigned acknowledges that the parties named herein are relying upon this estoppel certificate and the accuracy of the information contained
herein in making a loan secured by the Landlord’s interest in the Premises, or in connection with the, acquisition of the Property of which the Premises is a part. 
  

 41 

 EXECUTED UNDER SEAL AS OF _____________, 20__. 
  

					
	 TENANT:

	
	  
		
	 By: 
	 	  
		 	 Name: 
	 	
		 	 Title: 
	 	
		 	 Duly Authorized

  

 42 

 FIRST AMENDMENT OF LEASE 
 THIS AMENDMENT made and entered into as of the 21st day of May, 2004 by and between Rodger P. Nordblom and Peter C. Nordblom, as Trustees of Northwest Associates (“Landlord”) and LeMaitre Vascular, Inc. (“Tenant”). 
 WITNESSETH 
 WHEREAS, Landlord
and Tenant entered into a lease dated March 31, 2003 (the “Lease”) for premises (the “Premises”) initially containing 22,322 rentable square feet in the building (the “Building”) located at 63 Second Avenue,
Burlington, Massachusetts; 
 WHEREAS, pursuant to the current terms of the Lease, on April 1, 2006 the Premises are scheduled to
expand by an additional 4,776 rentable square feet (the “Additional Space”) to contain 27,098 rentable square feet, such figure representing the entire rentable square footage of the Building; 
 WHEREAS, the parties wish to amend the Lease such that the date of such expansion of the Premises shall be changed; 
 NOW THEREFORE, in consideration of the mutual agreements contained herein, the parties agree that the Lease shall be amended as follows, effective
as of the date of this Amendment: 
 1. The definition of the Premises, as contained in Section 1.1 of the Lease, shall be amended such
that as of the date (the “Additional Space Commencement Date”) that is the later to occur of (1) August 1, 2004, or (2) the date Landlord delivers possession of the Additional Space to Tenant vacant and free of all
occupants, the Premises shall be deemed to contain 27,098 rentable square feet. 
 2. The Annual Fixed Rent Rate and the Monthly Fixed Rent
Rate specified in Section 1.1 of the Lease shall changed according to the following schedule: 
  

							
	 Time Period:
	  	Annual Fixed Rent Rate:	  	Monthly Fixed Rent Rate:
	 Additional Space Commencement Date - March 31, 2005
	  	$	220,728.00	  	$	18,394.00
	 April 1, 2005 - March 31, 2006:
	  	$	288,480.00	  	$	24,040.00
	 April 1, 2006 - March 31, 2007:
	  	$	315,576.00	  	$	26,298.00
	 April 1, 2007 - March 31, 2008:
	  	$	342,672.00	  	$	28,556.00

  

 43 

 3. Tenant’s Percentage, as defined in Section 1.1 of the Lease, shall be amended such that as
of the Additional Space Commencement Date Tenant’s Percentage shall be deemed to be 100%. 
 4. As of the Additional Space Commencement
Date, any rights to the Building granted under the Lease to Tenant in common with other tenants of the Building shall become rights exclusive to Tenant. 
 5. Capitalized terms used herein without definition shall have the meanings ascribed to them in the Lease. 
 6. The recitals at the beginning of this Amendment are hereby incorporated into this Amendment. 
 As amended hereby, the Lease is
ratified and confirmed in all respects, and shall continue in full force and effect. 
 IN WITNESS WHEREOF, the parties have executed this
First Amendment under seal as of the date first written above. 
  

	
	 LANDLORD:

	
	/S/    ROGER P. NORDBLOM
	Rodger P. Nordblom as Trustee and not individually
	
	/S/    PETER C. NORDBLOM
	Peter C. Nordblom as Trustee and not individually

			
	
	 TENANT:

	
	 LEMAITRE VASCULAR, INC.

		
	By: 	 	/S/    TRENT G. KAMKE

			
	 Print Name: 
	 	Trent G. Kamke
	 Print Title: 
	 	Vice President — Operations
	Hereunto duly authorized

  

 44PATENT SUBLICENSE AGREEMENT

 Exhibit 10.3 
 [CONFIDENTIAL TREATMENT REQUESTED] /*/ INDICATES MATERIAL THAT HAS BEEN OMITTED AND FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN REQUESTED. ALL SUCH OMITTED MATERIAL HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE
COMMISSION PURSUANT TO RULE 406 PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. 
 PATENT SUBLICENSE AGREEMENT, 

This Agreement, by and between IMPRA, Inc., an Arizona corporation (hereinafter called LICENSOR), and Endomed, Inc., also an Arizona corporation
(hereinafter called LICENSEE), effective as of Match 7, 2003, 
 WITNESSETH THAT: 
 WHEREAS, LICENSOR holds certain license rights under United States Patent No. 6,436,135, including the right to grant sublicenses; and 

WHEREAS, LICENSEE desires to acquire a nonexclusive sublicense under said Patent; 
 NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained. LICENSOR and LICENSEE agree as follows: 
 Section 1. Definitions. 
 1.1. “Sublicensed Patent” shall mean United States Patent No. 6,436,135 issued to David Goldfarb, MD. on August 20, 2002, and any reissues and/or any reexaminations thereof. 
 1.2. “Licensed Products” shall mean products (i) that LICENSEE makes, has made, uses, imports, sells, leases, or offers for
sale, (ii) that are covered by a Valid Claim of the Sublicensed Patent, and (iii) that are within the Field of Use. 
 1.3. “End User(s)” shall mean the hospital or other entity or person that purchases a Licensed Product for intended use in a human patient. 
 1.4. “Distributor(s)” shall mean any entity or other person, other than an Affiliate of Licensee, which purchases finished
Licensed Products from LICENSEE or an Affiliate of LICENSEE solely for the purpose of resale to an End User without any addition, modification or alteration to the Licensed Product or its packaging. 
 1.5. “OEM Customer(s)” shall mean (i) any entity or other person which purchases or otherwise obtains from LICENSEE or an
Affiliate of LICENSEE a product or product component for the purpose of adding to, modifying, altering, or finishing such product or its packaging, or combining it with other products, prior to sale thereof by said OEM Customer, or (ii) any
entity or other person which purchases or otherwise obtains from LICENSEE or an Affiliate of LICENSEE a product made to specifications that are particular to that entity or person. 

 1.6. “Field of Use” shall mean the field of endovascular products: i.e.,
medical products that are placed within the arteries or veins of the human body. The Field of Use expressly excludes any surgical prosthetic device intended in whole or in part to replace any portion of any artery, vein or other vessel or conduit
within the human body, including but not limited to bypass grafts, dialysis grafts, aortic grafts or thoracic grafts. 
 1.7.
“Net Annual Sales” shall mean the total of Net Annual Domestic Sales and Net Annual Foreign Sales as hereinafter defined. 
 1.7.1 Except as provided in section 1.7.3, “Net Annual Domestic Sales” shall mean the total of: 
 (i) the
total gross invoiced price of all Licensed Products sold or otherwise transferred by LICENSEE or any Affiliate of LICENSEE to an End User in the United States during a specific calendar year, less (a) any discounts or rebates actually allowed
and taken, (b) any separately stated taxes, freight, insurance, customs duties or other similar charges, and (c) any credits actually issued for rejected or returned products; and 
 (ii) in the case of all Licensed Products that are sold to a Distributor located in the United States or to any Distributor located
outside the United States who resells Licensed Products to any End Users in the United States, the Distributor’s total gross invoiced price to its End User customers for such Licensed Products, less (a) any discounts or rebates actually
allowed and taken, (b) any separately stated taxes, freight, insurance, customs duties or other similar charges, and (c) any credits actually issued for rejected or returned products. 
 1.7.1.2 If any Licensed Products are sold or otherwise transferred by LICENSEE, any Affiliate of Licensee or a Distributor to End Users
as part of a kit or other assemblage of products, then in such cases “Net Annual Domestic Sales” shall be calculated on the basis of the total gross invoiced price to the End User for such kits or other product assemblage. 
 1.7.1.3 In the event that Licensed Products are transferred by LICENSEE, any Affiliate of LICENSEE, or a Distributor to an End User other
than by an outright sale requiring full payment within thirty (30) days of shipment, and under circumstances other than those listed in section 1.7.3, said Licensed Products shall be deemed to have been “sold” at the transferor’s
then-current list price for sale of such products to End Users. 
 1.7.1.4 “Net Annual Domestic Sales” shall
exclude (a) the gross invoiced price of Licensed Products supplied by LICENSEE exclusively for use in clinical trials being conducted in the United States pursuant to an approved investigational device exemption (IDE) for the purpose of
obtaining U.S. Food & Drug Administration approval for the sale of such Licensed Products for particular indications, and (b) any Licensed Products supplied free of charge solely to comply with LICENSEE’s warranty obligations.

 1.7.1.5 In the event that any Licensed Products (or kits or other product assemblages including Licensed Products)
(hereinafter “royalty-bearing products”) are 

  

 2 

 
sold or otherwise transferred as part of a group or “bundle” of products that includes products which are not royalty-bearing products, or pursuant
to a discount arrangement or other price adjustment that includes products which are not royalty-bearing products, the “Net Annual Domestic Sales” of such royalty-bearing products shall be computed as follows. (i) The actual average
discount (in percentage terms) for the royalty-bearing products sold or otherwise transferred as part of such an arrangement during the course of the royalty period at issue shall be determined. (ii) The actual average discount (in percentage
terms) for the other, non-royalty-bearing sold or otherwise transferred as part of such an arrangement during the course of the royalty period at issue shall also be determined. (iii) If the average percentage discount for such royalty-bearing
products (D 1) is greater than the average percentage discount for the non-royalty-bearing products (D2), the actual Net Annual Domestic Sales of the royalty-bearing products so sold or transferred shall be adjusted by multiplying that figure by the
following fraction: [CONFIDENTIAL TREATMENT REQUESTED] /*/. The resulting figure shall be included in the Net Annual Domestic Sales reported by LICENSEE and shall form the royalty base for royalty payments due on such sales or transfers. 

1.7.2 “Net Annual Foreign Sales” 
 1.7.2.1 Except as provided in section 1.7.2.3, “Net Annual Foreign Sales” shall mean 
 (i) the total gross invoiced price of all Licensed Products sold or otherwise transferred by LICENSEE or an Affiliate of LICENSEE to an
End User located outside the United States, less (a) any discounts or rebates actually allowed and taken, (b) any separately stated taxes, freight, insurance, customs duties or other similar charges, and (c) any credits actually
issued for rejected or returned products; and 
 (ii) in the case of Licensed Products sold or otherwise transferred by
LICENSEE or an Affiliate of LICENSEE to a Distributor located outside the United States for resale to End Users located outside the United States, LICENSEE’s or its Affiliate’s total gross invoiced price to such Distributor, less
(a) any discounts or rebates actually allowed and taken, (b) any separately stated taxes, freight, insurance, customs duties or other similar charges, and (c) any credits actually issued for rejected or returned products. 

1.7.2.2 If any Licensed Products are sold or otherwise transferred by LICENSEE, or any Affiliate of Licensee to an End User or a
Distributor located outside the United States as part of a kit or other assemblage of products, then in such cases “Net Annual Foreign Sales” shall be calculated on the basis of the total gross invoiced price to the End User for such lilts
or other product assemblage. 
 1.7.2.3 In the event that Licensed Products are transferred by LICENSEE or any Affiliate of
LICENSEE to an End User or a Distributor located outside the United States other than by an outright sale requiring fill payment within thirty (30) days of shipment, said Licensed Products shall be deemed to have been “sold” at the
transferor’s then-current list price for sale of such products to End Users. 
  

 3 

 1.7.2.4 In the event that any Licensed Products (or kits or other product assemblages
including Licensed Products) (hereinafter “royalty-bearing products”) are sold or otherwise transferred to End Users or Distributors outside the United States as part of a group or “bundle” of products that includes products
which are not royalty-bearing products, or pursuant to a discount arrangement or other price adjustment that includes products which are not royalty bearing products, the “Net Annual Foreign Sales” of such royalty-bearing products shall be
computed as follows. (i) The actual average discount (in percentage terns) for the royalty-bearing products sold or otherwise transferred as part of such an arrangement during the course of the royalty period at issue shall be determined.
(ii) The actual average discount (in percentage terms) for the other, non-royalty-bearing sold or otherwise transferred as part of such an arrangement during the course of the royalty period at issue shall also be determined. (iii) If the
average percentage discount for such royalty-bearing products (D1) is greater than the average percentage discount for the non-royalty-bearing products (D2), the actual Net Annual Foreign Sales of the royalty-bearing products so sold or transferred
shall be adjusted by multiplying that figure by the following fraction: [CONFIDENTIAL TREATMENT REQUESTED] /*/. The resulting figure shall be included in the Net Annual Foreign Sales reported by LICENSEE and shall form the royalty base for royalty
payments due on such sales or transfers. 
 1.8. “Affiliate” shall mean any person or entity that LICENSEE or any
shareholder(s) of LICENSEE directly or indirectly controls, through one or more intermediaries or otherwise, or which is controlled by or is under common control with LICENSEE. As used herein, “control” means the possession, directly or
indirectly, of the power to director cause the direction of the management or policies of the controlled entity, whether through ownership of capital stock, by contract, or otherwise. “Affiliate” shall also include, but not be limited to,
the entities identified as “Insiders” in that certain Stock Purchase Agreement of even date herewith by and between Endomed, Inc. and C.R. Bard, Inc. 
 1.9. “Valid Claim” shall mean a claim of the Sublicensed Patent which, at the time a sale is made has not been held
unenforceable or invalid or otherwise finally rejected by a decision of a court or other governmental agency of competent jurisdiction, which decision is no longer subject to a right of appeal or other judicial review, and which has not been
disclaimed or admitted to be invalid by LICENSOR. 
 1.10. “United States” shall mean all fifty states and all
foreign possessions or dependencies of the United States, including Puerto Rico, the U.S. Virgin Islands and Guam. 
 Section 2. Scope of
License. 
 2.1. LICENSOR hereby grants to LICENSEE a personal, nonexclusive sublicense under the Sublicensed Patent to
make, have made for its own account, use, and import Licensed Products, and to sell, lease, offer for sale and otherwise transfer Licensed Products as hereinafter provided. LICENSEE or an Affiliate of Licensee may sell or transfer Licensed Products
directly to End Users. LICENSEE or, in the event that LICENSEE first sells or transfers Licensed Products to any Affiliate of LICENSEE, such Affiliate, may also sell or transfer Licensed Products to Distributors for resale to End Users; provided,
however, that any such Distributor must resell the Licensed Products to End Users in unchanged form, and 

  

 4 

 
provided further, that there shall be [CONFIDENTIAL TREATMENT REQUESTED] /*/ distribution channel for Licensed Products ([CONFIDENTIAL TREATMENT REQUESTED]
/*/) in any specific country in the world. This sublicense specifically excludes any right of LICENSEE (or any Affiliate or Distributor of LICENSEE) to sell or otherwise transfer Licensed Products to OEM Customers. 
 2.1.1 This Agreement and all rights granted hereunder are personal to LICENSEE except to the extent specifically hereinafter provided.
LICENSEE shall have no right to further sublease its rights hereunder. 
 2.1.2 LICENSEE understands and agrees that,
notwithstanding the License Agreement between LICENSEE and its Affiliate Transform Technologies, L.L.C. (“Transform”), neither Transform nor any successor-in-intent or assignee or transferee of Transform has or will hereafter acquire any
rights with respect to the Sublicensed Patent or any rights or licenses under this Agreement. 
 2.2. This Agreement shall not
be construed to grant LICENSEE any license or other rights except as specifically contained herein, and is strictly limited to the defined Field of Use. No license or other right is granted herein to either party, directly or by implication,
estoppel or otherwise, with respect to any trade secrets or know-how of the other, and no such license or other right shall arise from the execution or performance of this Agreement or from any acts, statements or dealings loading to such execution
or performance. Except as specifically stated herein, neither party is required to furnish o r disclose to the other any technical or other information. Neither party shall use or refer to the name, logo or trademarks of the other in any form of
advertising or promotion, written or oral. 
 Section 3. Royalty Obligations. 
 3.1. Except as hereinafter provided, LICENSEE shall pay to LICENSOR a royalty on the Net Annual Sales of all Licensed Products during each
calendar year in accordance with the following royalty rate schedule: 
  

			
	 [*] $[*] /*/million of Net Annual Sales
	    	[*] /*/%
	 [*] $[*] /*/million (to $[*] million)
	    	[*] /*/%
	 [*] $[*] /*/million (to $[*] million)
	    	[*] /*/%
	 [*] $[*] /*/million (to $[*] million)
	    	[*] /*/%
	 [*] $[*] /*/million (to $[*] million)
	    	[*] /*/%
	 [*] $[*] /*/million (to $[*] million)
	    	[*] /*/%
	 [*] sales over $[*] /*/million
	    	[*] /*/%

 [*] [CONFIDENTIAL TREATMENT REQUESTED] 
  

 5 

 The above schedule shall start anew on January 1 of each calendar year. 
 3.1.1 Minimum Royalties on Sales to Distributors Located Outside the U.S. for Resale to End Users outside the U.S. Notwithstanding the
foregoing, if the per-unit royalty calculated on any sale of Licensed Products by LICENSEE or an Affiliate of LICENSEE to a Distributor pursuant to Sections 1.7.2.1(ii), 1.7.2.2 and/or 1.7.2.4 is less than the minimum royalty applicable to such sale
as set forth below, then LICENSEE shall pay to LICENSOR such minimum royalty in lieu of the calculated royalty: 
 Minimum Royalties on
Foreign Distributor Sales: 
  

			
	 [CONFIDENTIAL TREATMENT REQUESTED] /*/ Products
	  	 $[CONFIDENTIAL TREATMENT REQUESTED] /*/ per unit

	 [CONFIDENTIAL TREATMENT REQUESTED] /*/ Products
	  	 $[CONFIDENTIAL TREATMENT REQUESTED] /*/ per unit

	 [CONFIDENTIAL TREATMENT REQUESTED] /*/ Products
	  	 $[CONFIDENTIAL TREATMENT REQUESTED] /*/ per unit

	 [CONFIDENTIAL TREATMENT REQUESTED] /*/ Products (for [CONFIDENTIAL TREATMENT REQUESTED] /*/ uses)
	  	 $[CONFIDENTIAL TREATMENT REQUESTED] /*/ per unit

	 [CONFIDENTIAL TREATMENT REQUESTED] /*/ Products
	  	 $[CONFIDENTIAL TREATMENT REQUESTED] /*/ per unit

	 [CONFIDENTIAL TREATMENT REQUESTED] /*/ Products
	  	 $[CONFIDENTIAL TREATMENT REQUESTED] /*/ per tout

 If an adjustment is hereafter made to the royalty schedule pursuant to Section 3.4 hereof, the minimum
royalties set forth in this Section 3.1.1 shall be proportionately adjusted to the extent that the adjusted royalty rate is less than [CONFIDENTIAL TREATMENT REQUESTED] /*/%. In the event that LICENSEE sells or develops a Licensed Product that
does not fall within any of the above categories (a “Nora-Listed Licensed Product”), LICENSOR and LICENSEE shall negotiate in good faith an appropriate minimum royalty for sales of such Non-Listed Licensed Product that are subject to
Section 1.7.2.1(ii), 1.7.2.2 and/or 1.7.2.4. Such minimum royalty shall in no event be less than the greater of (1) [CONFIDENTIAL TREATMENT REQUESTED] /*/% of the Net Annual Foreign Sales for such Non-Listed Licensed Product, or
(2) [CONFIDENTIAL TREATMENT REQUESTED] /*/% of the applicable Distributor’s average End User selling price for such Non-Listed Licensed Product (subject to any adjustment made pursuant to Section 3.4, if applicable). 
  

 6 

 3.2. LICENSEE’s obligation to pay royalties with respect to the products currently
being sold by LICENSEE shall be retroactive to the issuance of the Sublicensed Patent, notwithstanding the later execution of this Agreement. 
 3.3. Royalty payments shall be due and payable no later than [CONFIDENTIAL TREATMENT REQUESTED] /*/ ([CONFIDENTIAL TREATMENT REQUESTED] /*/) days following the end of each calendar quarter with respect to sales made
(or deemed to have been made pursuant to Sections 1.7.2 or 4.1 hereof) during said calendar quarter and any prior sales on which a royalty due hereunder has not been paid. Except as provided in Section 1.7.2, sales to an End User shall be
deemed to have been made on the date of shipment. 
 3.4. LICENSEE shall have, at its option, the right to replace the royalty
schedule set forth in Section 3.1 hereof or the method of calculating the royalty base (defined in this Agreement as “Net Annual Sales”) with any more favorable sublicense royalty rate or royalty base calculation method hereafter
granted in the same Field of Use by LICENSOR or any assignee or successor of LICENSOR for sales to End Users, except that (i) such right shall not extend to any royalty rate or royalty base calculation method contained in any sublicense granted
to any affiliate of LICENSOR or to [CONFIDENTIAL TREATMENT REQUESTED] /*/ or in any sublicense granted as part of a bona fide cross-licensing arrangement or in settlement of a claim, and (ii) to the extent that LICENSOR or its assignee or
successor grants a more favorable sublicense royalty rate or royalty base calculation method that is limited to some portion of the Field of Use, LICENSEE shall be entitled to such more favorable rate or method only with respect to products sold in
said limited portion of the Field of Use. Any cross-licensing arrangement shall be deemed to be bona fide unless LICENSOR’s purpose in entering such cross-license was to avoid its obligations under this subparagraph. LICENSEE shall have the
burden of establishing that a cross-licensing arrangement was not bona fide. 
 3.4.1 In the event that LICENSOR grants any
sublicense to another entity or person that includes all or any portion of the Field of Use, LICENSOR shall provide its outside auditors with a copy of said sublicense and this Agreement, and shall request said auditors to determine whether, as a
result of said sublicense, LICENSEE is entitled to a more favorable sublicense rate or more favorable royalty base calculation method pursuant to the provisions of Section 3.4 above. Upon completion of their review, the auditors will provide
LICENSEE with a letter notifying LICENSEE that a sublicense has been entered (but not disclosing the name of the sublicensee thereunder or the terms of said sublicense) and stating whether or not LICENSEE is entitled to an adjustment of its
sublicense rate or to the method of calculating its royalty base and, if so, the amount of that adjustment. The comparison between the third party sublicense and this Agreement shall be made on the basis of the royalty obligations viewed as a whole.

 3.5. LICENSEE shall be liable for interest on any overdue royalty payments, commencing on the date any such payment becomes
due, at an annual rate which is the greater of ten percent (10%) or one percentage point higher than the prime interest rate as quoted by the head office of Citibank, New York, New York, at the close of banking on such date, or on the fast business
day thereafter if such date falls on a non-business day. If such interest rate exceeds the maximum legal rate in the jurisdiction where a claim therefor is being asserted, the interest rate shall be reduced to such maximum legal rate, to the extent
that such interest rates are subject to the laws of such jurisdiction. 
  

 7 

 3.6. In the event an audit under the provisions of Section 4 hereof identifies an
underpayment of royalties by LICENSEE, LICENSEE shall pay an amount equal to such underpayment within [CONFIDENTIAL TREATMENT REQUESTED] /*/ days of LICENSOR’s written request together with the interest due on such amount pursuant to the
provisions of Section 3.5 above. 
 Section 4. Royalty Accruals, Payment, Reports and Records. 
 4.1. Royalties shall accrue when a Licensed Product is first sold or otherwise transferred to an End User. However, if a Distributor shall
not have sold or otherwise transferred any Licensed Products to an End User within [CONFIDENTIAL TREATMENT REQUESTED] /*/ ([CONFIDENTIAL TREATMENT REQUESTED] /*/) days of shipment by LICENSEE or any Affiliate of LICENSEE to the Distributor, such
Licensed Products shall be deemed to have been sold by such Distributor on the [CONFIDENTIAL TREATMENT REQUESTED] /*/ ([CONFIDENTIAL TREATMENT REQUESTED] /*/) day at a price equivalent to the Distributor’s average selling price to End Users
during the prior calendar quarter, or, if such price cannot be determined, at LICENSEE’s actual average or recommended selling price to End Users. 
 4.2. LICENSEE shall make all royalties and other payments due hereunder in United States dollars. All royalties for an accounting period computed in other currencies shall be converted into United States dollars at
the exchange rate for bank transfers from such currency to United States dollars as quoted by the head office of Citibank, New York, New York, at the close of banking on the last day of such accounting period (or the first business day thereafter if
such last day shall be a non-business day). 
 4.3. The accounting period for royalty payments shall be each calendar quarter
within a calendar year Within [CONFIDENTIAL TREATMENT REQUESTED] /*/ ([CONFIDENTIAL TREATMENT REQUESTED] /*/) days after the end of each such quarter LICENSEE shall furnish to LICENSOR a written report containing the information specified in
Section 4.4 and shall pay to LICENSOR all unpaid royalties accrued hereunder through the end of each such quarter. 
 4.4. LICENSOR’s written report shall be certified by an officer of LICENSEE and shall contain the following information. 
 4.4.1 The report shall (i) identify by verbal description and product code number of each Licensed Product upon which royalty has accrued, and with respect to each such Licensed Product, (ii) shall set forth
separately the gross and net quantities, by units and invoiced amount, sold or otherwise transferred by each of LICENSEE, any Affiliate of LICENSEE and any Distributor(s) dining the accounting period, and (iii) shall set forth the manner in
which the royalties due with respect thereto has been calculated, identifying any situations to which the royalty provisions of Section 3.1.1 are applicable, and 
 4.4.2 The report shall also provide an explanation or other reconciliation of the gross and pet data for units transferred and invoiced
amounts. 
  

 8 

 4.4.3 In the event no royalties are due, LICENSEE’s report shall so state and
explain why. 
 4.5. Payment shall be made by electronic funds transfer on or before, the date that payment is due. All
payments shall be made in U.S. dollars, with payments of royalties based on sales made in other currencies to be calculated, as of the end of the calendar quarter for which royalties are being calculated, based on the applicable average exchange
rate quoted by the Wall Street Journal for the last business day of the calendar quarter for which such royalty payments are being calculated. 
 4.6. If LICENSEE shall contend that any endovascular product that LICENSEE makes, has made or imports and that is comprised in whole or in part of ePTFE should not be considered a Licensed Product for purposes of this
Agreement, LICENSEE shall promptly so notify LICENSOR and shall provide LICENSOR with a detailed statement of reasons explaining LICENSEE’s position. Such notification shall be accompanied by full and complete copies of any technical reports or
other technical data on which LICENSEE is relying. Thereafter, within [CONFIDENTIAL TREATMENT REQUESTED] /*/ ([CONFIDENTIAL TREATMENT REQUESTED] /*/) days of a written request by LICENSOR, LICENSEE shall (i) provide to LICENSOR or its designee
a copy of any materials (including, but not limited to manufacturing specifications, manufacturing drawings, manufacturing process, information, brochures and service, use and other technical manuals) relevant to determining whether any such product
identified by LICENSOR is subject to this Agreement; and (ii) deliver to LICENSOR or its designee a reasonable number of representative examples of the product at issue. 
 4.6.1 Information and materials provided to LICENSOR pursuant to this Section 4.6 shall be deemed to be confidential, and their
dissemination may, at LICENSEE’s request, be limited to designated persons, provided that under no circumstances shall LICENSOR be prevented from obtaining outside technical or legal assistance to determine whether the product at issue is
subject to this Agreement. 
 4.7. LICENSEE shall prepare and retain records in sufficient detail to permit the determination
of products subject to this Agreement, the royalties due LICENSOR, and the accuracy of the information on LICENSEE’s written reports. Such records shall include, but not be limited to, detailed sales records supporting the information provided
under Section 4.4. To the extent such records are prepared in the ordinary course of LICENSEE’s business, they shall be prepared in accordance with generally accepted accounting principles. Any records of a financial nature shall be
retained for a minimum period of [CONFIDENTIAL TREATMENT REQUESTED] /*/ ([CONFIDENTIAL TREATMENT REQUESTED] /*/) years following the reporting period to which they pertain. 
 Section 5. Audit Rights. 
 5.1. Upon LICENSOR’s written request for an audit on at least [CONFIDENTIAL TREATMENT REQUESTED] /*/ ([CONFIDENTIAL TREATMENT REQUESTED] /*/) business days’ notice prior to the date on which such audit would commence, LICENSEE
will permit LICENSOR’s outside auditors, working with such outside legal and technical support personnel as said auditors deem necessary, to examine, during ordinary business hours, any documents or other information reasonably necessary to
enable such auditors to determine whether LICENSEE has complied with its royalty obligations 

  

 9 

 
hereunder. LICENSOR shall not be entitled to invoke its audit rights more than once each calendar year, provided that any previous audit was satisfactory.

 5.1.1 LICENSEE agrees to provide full cooperation in such audit. 
 5.1.2 LICENSOR shall pay the cost of such audit. However, in the event that the audit reveals underpayment by five percent (5%) or more of
the royalties which should have been paid for any of the accounting periods being audited, then LICENSEE shall pay for the reasonable cost of such audit. LICENSEE shall have the burden of establishing that the actual cost assigned by the auditor was
unreasonable. 
 5.1.3 LICENSOR and its auditors shall treat as confidential to LICENSEE any information which LICENSOR or its
auditors obtain from LICENSEE in connection with sections 4.4, 4.6 and 5.1 hereof. However: 
 5.1.3.1 LICENSOR’s
outside auditors shall have the right to discuss such information which pertains to a customer or supplier of LICENSEE with such customer or supplier, and 
 5.1.3.2 LICENSOR shall have the right to use such information in a court of law, in or in other similar proceedings to establish its rights to royalties due. 
 Section 6. Restrictions on Sublicensing, Transfer and Assignment. 
 6.1. LICENSEE shall have not have the right to grant any further sublicense hereunder. 
 6.2. This Agreement is personal to LICENSEE, and shall not be transferred or assigned except in connection with (i) the sale of all
of the stock of LICENSEE or (ii) the sale of all or substantially all of the assets of LICENSEE. LICENSOR shall be given at least [CONFIDENTIAL TREATMENT REQUESTED] /*/ ([CONFIDENTIAL TREATMENT REQUESTED] /*/) days’ written notice of any
such proposed or contemplated transfer or assignment In the event of a permitted transfer or assignment, the royalty schedule set forth in section 3.1 hereof shall be of no further force or effect and the royalty thereafter payable hereunder shall
be a flat [CONFIDENTIAL TREATMENT REQUESTED] /*/ % on Net Annual Sales, subject only to the [CONFIDENTIAL TREATMENT REQUESTED] /*/ set forth in Section [CONFIDENTIAL TREATMENT REQUESTED] /*/ hereof. 
 6.2.1 Except as hereinafter provided, this Section 6.2 permits only a one-time transfer or assignment of this Agreement by LICENSEE
and only under the aforesaid conditions. Thereafter, the transferee or assignee shall have no further right to transfer or assign this Agreement, or any interest herein, without the prior express written consent of LICENSOR. For purposes of the
preceding sentence, any sale or transfer by such transferee or assignee of more than 30% of its stock or capital interest to any person or entity, or to any affiliated group of persons or entities, shall be deemed a transfer requiring the prior
consent of LICENSOR. Notwithstanding the first two sentences of this Section 6.2.1., this Agreement may be further transferred or assigned to a single surviving successor LICENSEE (a “Permitted Successor”); provided, however, that
upon the occurrence of the first such further transfer or assignment, the 

  

 10 

 
Field of Use within which any such Permitted Successor may exercise its rights hereunder shall, without further action by or notification from LICENSOR, be
thenceforth be limited to endovascular products that are solely for abdominal and/or thoracic indications and that have an internal diameter of more than 12 millimeters. 
 6.2.2 Any transferee or assignee shall, following a transfer or assignment, be deemed to be the LICENSEE, and shall have the same
obligations as LICENSEE had prior thereto, and its rights shall be subject to all limitations set forth herein. Any affiliate of such transferee or assignee shall be deemed an Affiliate of Licensee for purposes of this Agreement. 
 Section 7. Limited Warranty; Enforcement of Patent. 
 7.1. LICENSOR represents and warrants that it has the full right and power to grant the sublicense described in Section 2. Except for the foregoing, LICENSOR makes no other representations or warranties, express
or implied, including without limitation any representation or warranty with respect to the scope, validity or enforceability of any patent rights licensed hereunder, or any representation or warranty that anything made, sold or otherwise disposed
of under the sublicense granted by this Agreement is or will be free from infringement of patent or other rights of third parties. LICENSOR does not assume any liability in respect of any infringement of patents or other rights of third parties due
to LICENSEE’s operation under the sublicense herein granted. 
 7.2. In the event that LICENSEE is sued by a third party
for alleged infringement of a third party patent, LICENSEE [CONFIDENTIAL TREATMENT REQUESTED] /*/ and shall be [CONFIDENTIAL TREATMENT REQUESTED] /*/ or [CONFIDENTIAL TREATMENT REQUESTED] /*/. 
 7.3. LICENSEE agrees to bring promptly to the attention of LICENSOR any conduct by a third party that LICENSEE believes may constitute
infringement of the Sublicensed Patent by such third party. However, LICENSOR shall not have any obligation hereunder to institute any action or suit against third parties for infringement of the Sublicensed Patent or to defend any action or suit
brought by a third party which challenges or concerns the validity of the Sublicensed Patent. LICENSOR’s election not to institute or defend such action shall not be deemed to constitute any admission with respect to the scope of the
Sublicensed Patent or otherwise, and shall not create any right that is enforceable by LICENSEE. 
 7.4. In the event that
LICENSOR shall institute an action for infringement against any third party with respect to the Sublicensed Patent or shall defend an action for declaratory judgment with respect thereto, LICENSEE shall fully cooperate with LICENSOR and provide such
assistance as may be reasonably requested. 
 7.5. LICENSEE shall not have any right to institute any action or suit against
third parties for infringement of the Sublicensed Patent. 
 7.6. LICENSEE acknowledges the validity and enforceability of the
Sublicensed Patent. 
  

 11 

 Section 8. Limitation of Liability. 
 8.1. Under no circumstances shall either party be entitled to recover from the other any incidental, consequential, indirect, special,
exemplary or punitive damages in connection with any action arising out of or relating to this Agreement, whether based on contract, tort or any other theory of action, even if such patty has been informed or should have known of the possibility of
such damages. 
 Section 9. Term and Termination. 
 9.1. Unless sooner terminated as hereinafter provided, and subject to the provisions of Section 9.8 below, this Sublicense Agreement
shall have a term co-extensive with the term of the Sublicensed Patent. 
 9.2. LICENSOR may terminate this went for cause if
(i) LICENSEE shall fail at any time to make any report, pay any royalties that are due and payable hereunder, permit or cooperate with a requested audit, or otherwise fail to comply with its obligations hereunder, unless such failure is cured
(and any applicable interest is paid) within [CONFIDENTIAL TREATMENT REQUESTED] /*/ ([CONFIDENTIAL TREATMENT REQUESTED] /*/) days after written notice from LICENSOR to LICENSEE specifying the nature of such failure or (ii) LICENSEE or any of
its Affiliates shall at any time and in any way, formally or informally, directly or indirectly through their attorneys or otherwise, initiate or voluntarily participate in or provide any assistance in connection with legal or administrative
proceedings by any person or entity challenging the validity or enforceability of the Sublicensed Patent, or (iii) if LICENSEE fails to respect the limitations on its rights set forth in Section 2 hereof. 
 9.2.1 Any such termination shall be effected by LICENSOR’s giving written notice to LICENSEE, and shall be effective on the
([CONFIDENTIAL TREATMENT REQUESTED] /*/) day after the termination notice is given. The [CONFIDENTIAL TREATMENT REQUESTED] /*/ ([CONFIDENTIAL TREATMENT REQUESTED] /*/) day delay in the effectiveness of termination shall not extend the cure period.

 9.2.2 LICENSEE shall not be deemed responsible for decisions by individual physicians to use a Licensed Product outside the
Field of Use, provided that LICENSEE has designed, intended and promoted such Licensed Product solely for use within such Field of Use, and provided further that LICENSEE has not, after learning of such use, knowingly supplied or continued to supply
Licensed Product to any such physician or other End User with which such physician is associated. 
 9.3. LICENSEE may
terminate the license granted herein in the event that all claims of the Sublicensed Patent are finally determined, after entry of a final judgment which is no longer subject to appeal or judicial review, to be invalid or unenforceable. Such
termination shall be effective on the date that written notice of such termination is mailed. LICENSEE shall not, however, be entitled to any refund of any royalties paid prior to the date of such notice, nor shall LICENSEE be entitled to withhold
payment of royalties pending the outcome of any proceedings relating to the validity or enforceability of the Sublicensed Patent. Any such withholding shall constitute a for-cause basis for termination of this Agreement. 
  

 12 

 9.4. In the event that more than thirty percent (30%) of LICENSEE’s securities
representing the right to vote for the election of directors are now, or hereafter become, owned or controlled, directly or indirectly, by any persons or entities other than the present shareholders of LICENSEE, LICENSEE shall promptly give written
notice to LICENSOR of such acquisition. Unless the acquisition is permitted by section 6.2 hereof, LICENSOR may terminate the license by giving written notice to be effective fifteen (15) days after the date thereof. For purposes of this
Section 9.4, transfers of securities originally issued to C.R. Bard, Inc. or its affiliates in connection with the stock purchase being undertaken by Bard simultaneously with the execution of this Agreement shall not be taken into account
unless such stock is then owned by LICENSEE, any Affiliates of LICENSEE, or any of the present shareholders of LICENSEE. 
 9.5. No termination pursuant to this Section 9 shall relieve LICENSEE of any obligation or liability accrued hereunder prior to such termination, or rescind or give rise to any right to rescind anything done by LICENSEE or any payments
made or other consideration given to LICENSOR hereunder prior to the time such termination becomes effective, and such termination shall not affect in any manner any rights of LICENSOR arising under this Agreement prior to such termination.

 9.6. No failure or delay by either party in exercising its right of termination hereunder shall be construed to prejudice
its right of termination for any continuing default or for any other or subsequent default. In the event of the termination of this Agreement for any reason whatsoever LICENSEE shall forthwith cease to exploit all of its sublicense rights hereunder
and shall not thereafter exploit any such rights in any manner whatsoever, except that if on termination LICENSEE has any stock of Licensed Products, it will have a period of [CONFIDENTIAL TREATMENT REQUESTED] /*/ ([CONFIDENTIAL TREATMENT REQUESTED]
/*/) months to sell such Licensed Products to End Users, provided that this is done in the normal course of business and on normal commercial terms, and any such sale shall be subject to all the tam and conditions of this Agreement as though it were
in full force and effect, including payment of royalties hereunder. In the event that, following termination, LICENSEE sells any Licensed Products to any person or entity other than an End User, royalties shall due on such sales as if such sales had
been made at LICENSEE’s average U.S. selling price to hospital customers during the year immediately prior to termination. 
 9.7. No termination of this Agreement shall release LICENSEE from its obligation to report and to pay to LICENSOR any royalties or other consideration which shall have accrued up to the time such termination becomes effective, nor shall
such termination release either party hereto from any other liability which at said time had already accrued to the other party, nor rescind anything done or any payment or other consideration made or given to either party, nor effect in any way the
survival of any right, duty or obligation which is expressly stated elsewhere in this agreement to survive termination. 
 9.8. The provisions of Sections 3.5, 3.6, 4.1 through 4.7, 5, 7.2, 7.6, 8, 9.7, 10, 11 and 12 shall survive termination of this Agreement in addition to those provisions that survive by their terms. 
  

 13 

 Section 10. Confidentiality. 
 10.1. Except as maybe required bylaw, legal processor a regulatory authority, neither party shall disclose to any third party any of the
terms or conditions of this Agreement without the prior written consent of the other, provided, however, that LICENSOR or LICENSEE may represent to others that the parties have executed a sublicense agreement with respect to the Sublicensed Patent,
and that either party may disclose the content of the Agreement to its outside legal counsel or its outside auditors provided that it does so in confidence. Either party may also disclose the Agreement to a bank in connection with bank financing,
provided that the bank first agrees in writing to maintain the confidentiality of the Agreement. 
 Section 11. Dispute Resolution.

 11.1. The parties agree to use their best efforts to handle all disputes, claims or controversies arising under, out of, or
in connection with this Agreement in good faith and in an expeditious and cost-effective manner. The parties shall first attempt to resolve any dispute amicably between themselves by arranging an in-person meeting between executives with
decision-making authority within 45 days of a request by either party for such a meeting. 
 11.2. If the parties fail to
resolve such dispute, then either party may take such other action as such party deems appropriate in its sole discretion, except that the party alleged to have breached its obligations hereunder shall not file suit for declaratory judgment for a
period of at least sixty (60) days following the conclusion of the parties’ discussions. 
 Section 12. Miscellaneous
Provisions. 
 12.1. This Agreement shall be construed, and the legal relations between the parties hereto shall be
determined, in accordance with the law of the State of Arizona, except to the except that performance of this Agreement involves issues of patent law, in which case such issues shall be resolved in accordance with the patent law of the United
States. 
  

 14 

 12.2. Any notice or other communication required or permitted to be made or given to
either party hereto pursuant to this Agreement shall be sent to such party both by facsimile and by overnight delivery by Federal Express or other recognized courier service addressed to the address set forth below, or to such other address as it
may hereafter designate by written notice given to the other party. Payments shall be deemed to be made on the date of electronic funds transfer. Notices or other communications shall be deemed to have been given or provided on the date of sending.
The addresses are as follows: 
 12.2.1 For electronic funds transfers to LICENSOR: 
 Wells Fargo Bank 
 64 East Broadway 
 Tempe, AZ 85281 
 Account name: [CONFIDENTIAL TREATMENT REQUESTED] /*/ 
 Account: [CONFIDENTIAL TREATMENT REQUESTED] /*/ 
 Routing #[CONFIDENTIAL TREATMENT REQUESTED] /*/ 
 Swift #[CONFIDENTIAL TREATMENT REQUESTED] /*/ 
 12.2.2 For overnight delivery to LICENSOR 
 President 
 IMPRA, Inc. 
 1625 West 3 Street 
 Tempe, AZ 85280-1740 
 with a copy to 
 General Counsel 
 C.R Bard, Inc. 
 731 Central Avenue 
 Murray Hill, NJ 07974 
 12.2.3 For facsimile transmission to LICENSOR: 
 (480) 966-7062 
 Attention: President, IMPRA, Inc. 
 with a copy to 
 (908) 277-8025 
 Attention: General Counsel, C.R. Bard, Inc. 
 12.2.4 For overnight delivery to LICENSEE: 
 William M. Colone, President 
 Endomed, Inc. 
 10220 South 51st Street, #1 
 Phoenix, AZ 85044 
 with a copy to: 
 Michael A. Sitzman, Esq. 
 Gibson, Dunn & Crutcher 
 1 Montgomery Street 
 San Francisco, CA 94101 
  

 15 

 12.2.5 For facsimile transmission to LICENSEE: 
 (480) 753-1271 
 Attention: William Colone 
 with a copy to: 
 (415) 986-5309 
 Attention: Michael A. Sitzman, Esq. 
 12.3. Nothing contained in this Agreement shall be construed as conferring on
either party any license or other right to copy or imitate the exterior design or packaging of the products of the other party. 
 12.4. The parties hereto are independent contractors, and nothing herein shall be construed as establishing any agency, partnership, joint venture or employment relationship between the parties. 
 12.5. Nothing contained in this Agreement shall be construed as conferring any right to use in advertising, publicity, or other
promotional activities any name, trade name, trademark or other designation of either party hereto (including any contraction, abbreviation or simulation of any of the foregoing). Each party hereto agrees not to use or refer to this Agreement or any
provision thereof in any promotional activity associated with apparatus licensed hereunder, without the express written approval of the other party. 
 12.6. Nothing contained in this Agreement shall be construed as limiting the rights which the parties have outside the scope of the sublicense granted hereunder. 
 12.7. Neither party nor any of its subsidiaries or affiliates shall be required hereunder to file any patent application, or to secure any
patent or patent rights, or to maintain any patent in force, or to provide copies of patent applications to the other party or its subsidiaries or affiliates, or to disclose any inventions described or claimed in such patent applications.

 12.8. This Agreement will not be binding upon the parties until it has been signed by or on behalf of each party, in which
event it shall be effective as of the date of this Agreement first above written. No amendment or modification hereof shall be valid or binding upon the patties unless made in writing and signed by the party sought to be charged. 
 12.9. This Agreement embodies the entire understanding of the parties with respect to subject matter of this Agreement and/or the
Sublicensed Patent, and merges all prior discussion between them, and neither of the parties shall be bound by any conditions, definitions, understandings or representations with respect to the subject matter hereof other than as provided herein.

 12.10. No act or omission by either party hereto shall be deemed to be a waiver of any right hereunder unless such act or
omission represents an express, intentional and 

  

 16 

 
unambiguous surrender of such right, and no such waiver on any one or more occasions shall be deemed to constitute a waiver with respect to any other similar
occasions. 
 12.11. If any provision of this Agreement is found by competent authority to be invalid, illegal or
unenforceable in any respect for any reason, there shall be substituted in lieu of each vision a valid, legal and enforceable provision which shall be as similar as possible in its and business objectives to those explicit or implicit in the
original. If the intent of the parties cannot be preserved, this Agreement shall be either renegotiated or terminated. 
 12.12. The heading of the several Sections are inserted for convenience of reference only are not intended to be a part of or to affect the meaning or interpretation of this Agreement. 
  

 17 

 IN WITNESS WHEREOF, the parties, by their officers duly authorized thereunto, have executed this
Agreement as of the date first above written. 
  

									
		 		 	 IMPRA, Inc., an Arizona Corporation
 (“LICENSOR”)

					
	Witness 	 	/S/    [ILLEGIBLE]        	 		 	 By
	 	/s/    Timothy M. Ring        
		 		 		 		 	 Name: Timothy M. Ring

		 		 		 		 	 Title: Vice President

			
		 		 	 Endomed, Inc., an Arizona Corporation
 (“LICENSEE”)

					
	Witness 	 	/S/    [ILLEGIBLE]        	 		 	 By
	 	/s/    Edward B. Diethrich        
					
		 		 		 	 Title
	 	     Secretary

  

 18

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