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Exhibit 10.3

EMPLOYMENT AGREEMENT
This Employment Agreement (this “Agreement”) is made and entered into as of May 31, 2019, by and between Enrique M. Vasquez (the “Executive”) and Blucora, Inc. (the “Company”).
RECITALS
WHEREAS, the Company desires to employ the Executive as the President of HD Vest for the Company beginning on or about May 31, 2019 with the start date of his employment being the effective date of this Agreement (the “Effective Date”), and the Executive desires to serve in such capacity;
NOW THEREFORE, in consideration of the foregoing, the mutual covenants contained herein, the employment of the Executive by the Company, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
1.Certain Definitions
(a) “Base Salary” has the meaning set forth in Section 5(a).
(b) “Board” means the Board of Directors of the Company.
(c) “Cause” means, as determined by the Board in its reasonable discretion: (i) the Executive’s conviction of, or plea of guilty or nolo contendere to, a misdemeanor involving dishonesty, wrongful taking of property, immoral conduct, bribery or extortion or any felony; (ii) willful material misconduct by the Executive in connection with the business of the Company; (iii) the Executive’s continued and willful failure to perform substantially his responsibilities to the Company under this Agreement, after written demand for substantial performance has been given by the Board that specifically identifies how the Executive has not substantially performed his responsibilities; (iv) the Executive’s improper disclosure of confidential information or other material breach of this Agreement, including the Confidentiality and Non-Competition Agreement; (v) the Executive’s material fraud or dishonesty against the Company; (vi) the Executive’s willful and material breach of the Company’s written code of conduct and business ethics or other material written policy, procedure or guideline in effect from time to time (provided that the Executive was given access to a copy of such policy, procedure or guideline prior to the alleged breach) relating to personal conduct; or (vii) the Executive’s willful attempt to obstruct or willful failure to cooperate with any investigation authorized by the Board or any governmental or self-regulatory entity. Any determination of Cause by the Company shall be made by a resolution approved by a majority of the members of the Board, provided that, with respect to Section 1(c)(iii), the Board must give the Executive notice and 60 days to cure the substantial nonperformance.

(d) “Change of Control” means the occurrence of any of the following:
(i) any “person” (as defined in Sections 13(d) and 14(d) of the Exchange Act), excluding for this purpose, (A) the Company or any subsidiary of the Company or (B) any employee benefit plan of the Company or any subsidiary of the Company, or any person or entity organized, appointed or established by the Company for or pursuant to the terms of any such plan that acquires beneficial ownership of voting securities of the Company, is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing more than 50% of the combined voting power of the Company’s then outstanding securities;
(ii) consummation of a reorganization, merger or consolidation of the Company, in each case, unless, following such transaction, all or substantially all the individuals and entities who were the beneficial owners of outstanding voting securities of the Company immediately prior to such transaction beneficially own, directly or indirectly, more than 50% of the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors of the company resulting from such transaction (including, without limitation, a company that, as a result of such transaction, owns the Company or all or substantially all the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership immediately prior to such transaction of the outstanding voting securities of the Company;
(iii) any sale or disposition by the Company, in one transaction or a series of related transactions, of all or substantially all the Company’s assets;
(iv) a “Board Change” which, for purposes of this Agreement, shall have occurred if a majority of the seats on the Board are occupied by individuals who were neither (A) nominated by a majority of the Incumbent Directors nor (B) appointed by directors so nominated (“Incumbent Director” means a member of the Board who has been either (1) nominated by a majority of the directors of the Company then in office or (2) appointed by directors so nominated, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of either an actual or threatened election contest (as such terms are used in Rule 14a-11 of Regulation 14A promulgated under the Exchange Act) or other actual or threatened solicitation of proxies or consents by or on behalf of a person other than the Board); or
(v) an approval by the stockholders of the Company of a complete liquidation or dissolution of the Company.
(e) “Code” means the Internal Revenue Code of 1986, as amended.
(f) “Compensation Committee” means the Compensation Committee of the Board.
(g) “Confidentiality and Non-Competition Agreement” means the Confidentiality and Non-Competition Agreement attached hereto as Exhibit A.

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(h) “Constructive Termination” means the occurrence, on a date that is prior to the two- month period prior to the consummation of a Change of Control or after the 12-month period following the consummation of a Change of Control, of any of the following without the Executive’s express prior written consent: (i) a material reduction of or to the Executive’s duties, authority or responsibilities (a change in reporting relationship alone does not constitute such a material reduction); (ii) a material reduction by the Company of the Executive’s Base Salary, unless similarly situated executives also experience a reduction; or (iii) a requirement that the Executive relocate his primary work location more than 25 miles from Irving, Texas or from any work location to which the Company transfers the Executive during the course of his employment and to which such transfer the Executive has consented. Notwithstanding the foregoing, a Constructive Termination shall not exist unless (x) the Executive delivers written notice to the Company (the “Constructive Termination Notice”) of the existence of the condition which the Executive believes constitutes a Constructive Termination within 30 days of the initial existence of such condition (which Constructive Termination Notice specifically identifies such condition), (y) the Company fails to remedy such condition within 30 days after the date on which it receives such notice (the “Constructive Termination Cure Period”), and (z) the Executive actually terminates employment within 30 days after the expiration of the Constructive Termination Cure Period.
(i) “Disability” means the Executive’s inability to perform his employment duties to the Company hereunder, with or without reasonable accommodation, for 180 days (in the aggregate) in any one-year period as determined by an independent physician selected by the Company.
(j) “Exchange Act” means the Securities Exchange Act of 1934, as amended.
(k) “Good Reason” means the occurrence of any of the following without the Executive’s express prior written consent: (i) a material reduction of or to the Executive’s duties, authority, responsibilities or reporting relationship; (ii) a material reduction of the Executive’s Base Salary; (iii) a material reduction of the Executive’s Target Bonus; (iv) a material reduction in the kind or level of employee benefits to which the Executive is entitled that occurs within 12 months following a Change of Control, unless similarly situated employees also experience a reduction; (v) a requirement that the Executive relocate his primary work location more than 25 miles from Irving, Texas or from any work location to which the Company transfers the Executive during the course of his employment and to which such transfer the Executive has consented; (vi) in connection with a Change of Control, the failure of the Company to assign this Agreement to a successor to the Company or the failure of a successor to the Company to explicitly assume and agree to be bound by this Agreement in a writing delivered to the Executive; or (vii) a material breach of this Agreement by the Company.
Notwithstanding the foregoing, termination of employment by the Executive will not be for Good Reason unless (x) the Executive delivers written notice to the Company (the “Good Reason Notice”) of the existence of the condition which the Executive believes constitutes Good Reason within 30 days of the initial existence of such condition (which Good Reason Notice specifically identifies such condition), the Company fails to remedy such condition within 30 
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days after the date on which it receives such notice (the “Good Reason Cure Period”), and (z) the Executive actually terminates employment within 30 days after the expiration of the Good Reason Cure Period.
(l) “Release” means a full release of claims against the Company substantially in the form attached hereto as Exhibit B; provided, however, that notwithstanding the foregoing, such Release is not intended to and will not waive the Executive’s rights: (i) to indemnification pursuant to any applicable provision of the Company’s Bylaws or Certificate of Incorporation, as amended, pursuant to any written indemnification agreement between the Executive and the Company, or pursuant to applicable law; (ii) to vested benefits or payments specifically to be provided to the Executive under this Agreement or any Company employee benefit plans or policies; or (iii) respecting any claims the Executive may have solely by virtue of the Executive’s status as a stockholder of the Company. The Release also shall not include claims that an employee cannot lawfully release through execution of a general release of claims.
(m) “Section 409A” means Section 409A of the Code and the Treasury Regulations and official guidance issued in respect of Section 409A of the Code.
(n) “Target Bonus” has the meaning set forth in Section 5(b).
2. Duties and Scope of Employment
The Company shall employ the Executive in the position of President of HD Vest for the Company.  The Executive shall report directly to the Company’s President and Chief Executive Officer. The Executive will render such business and professional services in the performance of the Executive’s duties, consistent with the Executive’s position(s) within the Company, as shall be reasonably assigned to the Executive at any time and from time to time by the Company’s President and Chief Executive Officer. Upon termination of the Executive’s employment for any reason, unless otherwise requested by the President and Chief Executive Officer, the Executive will be deemed to have resigned from all positions held at the Company and its affiliates voluntarily, without any further action by the Executive, as of the end of the Executive’s employment, and the Executive, at the President and Chief Executive Officer’s request, will execute any documents necessary to reflect his resignation.    
3. Obligations
While employed hereunder, the Executive will perform his duties ethically, faithfully and to the best of the Executive’s ability and in accordance with law and Company policy. The Executive agrees not to actively engage in any other employment, occupation or consulting activity for any direct or indirect remuneration without the express prior written approval of the Company’s President and Chief Executive Officer; provided, however, that notwithstanding anything to the contrary in the Confidentiality and Non-Competition Agreement, the Executive may engage in charitable activities so long as such activities do not materially interfere with the Executive’s responsibilities to the Company.

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4. Agreement Term
Unless earlier terminated as provided herein, the term of this Agreement (the “Agreement Term”) shall be for a period of three years commencing on the Effective Date and may be extended thereafter upon the written mutual agreement of the Executive and the Company.
5. Compensation and Benefits
(a) Base Salary. The Company agrees to pay the Executive a base salary (the “Base Salary”) at an annual rate of not less than $380,000, payable in accordance with the regular payroll practices of the Company, but not less frequently than monthly. The Executive’s Base Salary shall be subject to annual review by the Board (or a committee thereof).
(b) Annual Bonus. The Executive shall be eligible to participate in the Company’s bonus and other incentive compensation plans and programs for the Company’s senior executives at a level commensurate with his position. The Executive shall have the opportunity to earn an annual target bonus (the “Target Bonus”) measured against criteria to be determined by the Board (or a committee thereof) of at least 125% of Base Salary. The Executive’s Target Bonus amount for 2019 will be pro-rated to reflect the number of days of the Executive’s employment in 2019.  The payout of any 2019 bonus will occur following the end of the Company’s Executive Bonus Plan (the “Plan”) year, which is December 31, 2019, and will be paid in accordance with the terms and conditions of the Plan. Payment of any bonus pursuant to this Section 5(b) is subject to the Executive’s employment by the Company on the date required in the Plan.  The Company reserves the right to change the Plan at any time at its discretion.
(c) Equity Awards.  Contingent upon the Executive’s start date of employment being on or before June 3, 2019, the Executive shall receive a pro-rated annual equity grant for 2019 in the total aggregate amount of $554,000, which shall consist of (i) time-based restricted stock units with a value of $221,600 on the grant date that vest over a three-year period in 1/3rd  increments on each anniversary of the grant date, (ii) nonqualified stock options with a value of $138,500 on the grant date that vest over a three-year period in 1/3rd increments on each anniversary of the grant date, and (iii) performance-based restricted stock units with a target value of $193,900 that are eligible to vest following the performance period that ends on December 31, 2021, with the performance goals to be set forth in the Annual Equity Award Agreements (as defined below) and the achievement of such performance goals and the vesting to be determined by the Compensation Committee of the Company. The number of time-based and performance-based restricted stock units granted to the Executive shall be determined by dividing $221,600 and $193,900, respectively, by the closing price of the Company’s common stock on the grant date.  The number of shares of the Company’s common stock subject to the option shall be based on the Company’s option valuation methodology.  These equity awards will be granted under the Company’s 2018 Long-Term Incentive Plan (the “2018 Plan”) and have such other terms and conditions as are specified in the award agreements for such grants that are approved by the Committee for use by all executive officers in connection with the 2019 annual grant of equity awards (the “Annual Equity Award Agreements”) and shall otherwise be subject to the terms and conditions of the 2018 Plan and the Annual Equity Award Agreements; provided, however, that notwithstanding the foregoing, in the event of a conflict 
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between the terms and conditions of the Annual Equity Award Agreements and this Agreement, the terms and conditions of this Agreement shall prevail.  Following 2019, the Executive will be eligible to participate in the Company’s long-term equity incentive programs extended to senior executives of the Company generally at levels commensurate with the Executive’s position, which participation and levels shall be determined by the Board (or a committee thereof) in its sole discretion. 
(d) Relocation and Commuting Expenses. The Company will pay for or reimburse Executive for expenses incurred in connection with Executive’s commute between the Illinois and Dallas/Fort Worth areas and the eventual relocation to the Dallas/Fort Worth area.  The Company’s payment and reimbursement of commuting will be limited to Executive’s actual expenses and will not exceed $35,000 (the “Commuting Expenses”). Executive shall be entitled  to reimbursement of reasonable relocation expenses actually incurred, including purchase and sale transaction expenses, temporary housing costs and related incidental expenses in an aggregate amount up to $165,000, grossed-up so that such expenses are tax-neutral to Executive (the “Relocation Expenses”); provided,  however, that such reimbursement of Relocation Expenses shall be subject to the following: (i) if Executive relocates his family to the Dallas/Fort Worth area within six months from the Effective Date, Executive will be eligible for reimbursement of Relocation Expenses for an eighteen (18) month period following the Effective Date or (ii) if Executive does not relocate his family to the Dallas/Fort Worth area within six months from the Effective Date, Executive will be eligible for reimbursement of Relocation Expenses for the six-month period following the Effective Date.  If Executive resigns his employment with the Company for any reason, or if Executive is terminated by the Company for cause, and such resignation or termination occurs on or before the two-year anniversary of the Effective Date, Executive will repay the Company for all amounts paid to Executive as Commuting Expenses and Relocation Expenses. 

(e) Benefits. The Executive and his eligible dependents shall be eligible to participate in the employee benefit plans that are available or that become available to other employees of the Company, with the adoption or maintenance of such plans to be in the discretion of the Company, subject in each case to the generally applicable terms and conditions of the plan or program in question and to the determination of any committee administering such plan or program. Such benefits shall include participation in the group medical, life, disability, and retirement plans that are made generally available to employees of the Company, and any supplemental plans available to senior executives of the Company from time to time. The Company reserves the right to change or terminate its employee benefit plans and programs at any time.
(f) Expenses. The Company shall reimburse the Executive for reasonable business expenses incurred by the Executive in the furtherance of or in connection with the performance of the Executive’s duties hereunder, in accordance with the Company’s expense reimbursement policy as in effect from time to time.
6. Termination of Employment

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(a) General Provisions. This Agreement and the Executive’s employment with the Company may be terminated by either the Executive or the Company at will at any time with or without Cause; provided, however, that the parties’ rights and obligations upon such termination during the Agreement Term shall be as set forth in applicable provisions of this Agreement.
(b) Any Termination by Company or the Executive. In the event of any termination of the Executive’s employment with the Company, whether by the Company or by the Executive, (i) the Company shall pay the Executive any unpaid Base Salary due for periods prior to the date of termination of employment (“Termination Date”); (ii) the Company shall pay the Executive any unpaid bonus compensation pursuant to Section 5(b), to the extent earned through the Termination Date, subject to the terms of the Company’s Executive Bonus Plan (or any successor plan thereto); and (iii) following submission of proper expense reports by the Executive, the Company shall reimburse the Executive for all expenses reasonably and necessarily incurred by the Executive in connection with the business of the Company through the Termination Date (collectively, the “Accrued Obligations”).  The Accrued Obligations shall be paid promptly upon termination and within the period of time mandated by applicable law (but, in any event, within 30 days after the Termination Date). The Accrued Obligations paid or provided pursuant to this Section 6(b) shall be in addition to the payments and benefits, if any, to be provided to the Executive upon his termination of employment pursuant to Section 6(c), 6(d), 6(e), or 6(f) as applicable. Except as expressly stated above or as required by law or this Agreement, the Executive shall receive no further compensation in any form other than as set forth in this Section 6(b).
(c) Termination by Company Without Cause or Constructive Termination. If, other than in connection with a Change of Control as described in Section 6(d), the Executive’s employment with the Company is terminated by the Company without Cause or the Executive terminates employment with the Company under circumstances constituting a Constructive Termination, then subject to Section 6(g), the Executive shall receive the following payments and benefits:
(i) a severance payment in an amount equal to one times the Executive's Base Salary in effect as of the Termination Date (or if the Executive terminates employment under circumstances constituting a Constructive Termination due to a material reduction of the Executive's Base Salary, in effect immediately prior to such reduction) (less applicable withholding taxes), which amount shall be payable in a single lump sum on the first payroll date that is at least 60 days following the Termination Date (but, in any event, by no later than March 15 of the calendar year immediately following the calendar year that includes the Termination Date), in accordance with Section 14(b)(ii); and
(ii) a lump-sum payment in an amount equal to (A) the monthly COBRA premium in effect under the Company’s group health plan as of the Termination Date for the coverage in effect under such plan for the Executive (and the Executive’s spouse and dependent children) on such date multiplied by (B) 12 (less applicable withholding taxes), which amount shall be payable in a single lump sum on the first payroll date that is at least 60 days following the Termination Date (but, in any event, by no later than March 15 of the calendar year 
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immediately following the calendar year that includes the Termination Date), in accordance with Section 14(b)(ii); provided, however, that notwithstanding the foregoing or any other provision in this Agreement to the contrary, the Company (or its successor) may unilaterally amend this Section 6(c)(ii) or eliminate the benefit provided hereunder to the extent it deems necessary to avoid the imposition of excise taxes, penalties or similar charges on the Company or any of its subsidiaries, affiliates or successors, including, without limitation, under Section 4980D of the Code.
Notwithstanding any provision to the contrary in any Company equity compensation plan or any outstanding equity award agreement, if, during the Agreement Term, the Executive terminates employment with the Company under circumstances described in this Section 6(c), there shall be no acceleration of vesting or exercisability of any outstanding equity awards or extension of any option post- termination exercise period.
For the avoidance of doubt, under no circumstances will the Executive be entitled to payments and benefits under both this Section 6(c) and Section 6(d).
(d) Termination of Employment in Connection With a Change of Control. If the Company terminates the Executive’s employment without Cause or the Executive terminates employment with the Company for Good Reason (1) on the day of or during the 12-month period immediately following the consummation of a Change of Control or (2) during the 2-month period prior to the consummation of a Change of Control but at the request of any third party participating in or causing the Change of Control or otherwise in connection with the Change of Control, then subject to Section 6(g) and with respect to clause (2), subject to the consummation of such Change of Control, the Executive shall receive the following payments and benefits:
(i) a severance payment in an amount equal to one times the Executive's Base Salary in effect as of the Termination Date and his then current Target Bonus amount (or if the Executive terminates employment for Good Reason due to a material reduction of the Executive's Base Salary or Target Bonus, in effect immediately prior to such reduction) (in each case less applicable withholding taxes), which amount shall be payable in a single lump sum on the first payroll date that is at least 60 days following the Termination Date (but, in any event, by no later than March 15 of the calendar year immediately following the calendar year that includes the Termination Date), in accordance with Section 14(b)(ii); 
(ii) a lump-sum payment in an amount equal to (A) the monthly COBRA premium in effect under the Company’s group health plan as of the Termination Date for the coverage in effect under such plan for the Executive (and the Executive’s spouse and dependent children) on such date multiplied by (B) 12 (less applicable withholding taxes), which amount shall be payable in a single lump sum on the first payroll date that is at least 60 days following the Termination Date (but, in any event, by no later than March 15 of the calendar year immediately following the calendar year that includes the Termination Date), in accordance with Section 14(b)(ii); provided, however, that notwithstanding the foregoing or any other provision in this Agreement to the contrary, the Company (or its successor) may unilaterally amend this Section 6(d)(ii) or eliminate the benefit provided hereunder to the extent it deems necessary to avoid the imposition of excise taxes, penalties or similar charges on the Company or any of its 
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subsidiaries, affiliates or successors, including, without limitation, under Section 4980D of the Code; and
(iii) notwithstanding any provision to the contrary in any applicable equity compensation plan or any outstanding equity award agreement, the treatment of the Executive’s outstanding equity awards shall be governed solely by the following provisions: (A) all of the Executive’s then-outstanding time-vesting equity awards shall fully vest and all restrictions thereon shall lapse, and (B) to the extent vested (including as a result of the acceleration provided under this Section 6(d)(iii)), all of the Executive’s outstanding stock options shall remain exercisable until the first to occur of 12 months following the Termination Date and each such stock option’s original expiration date.
If a Change of Control is consummated prior to the expiration of the Agreement Term, this Section 6(d) shall apply to a termination of the Executive’s employment by the Company without Cause or by the Executive for Good Reason during the 12-month period immediately following the consummation of the Change of Control even if such 12-month period extends past the expiration of the Agreement Term. Moreover, notwithstanding the expiration of the Agreement Term, if a Change of Control is consummated within two months after the expiration of the Agreement Term, then this Section 6(d) shall apply to a termination of the Executive’s employment by the Company without Cause or by the Executive for Good Reason (i) on the day of or during the 12-month period immediately following the consummation of the Change of Control or (ii) during the 2-month period prior to the consummation of the Change of Control but at the request of any third party participating in or causing the Change of Control or otherwise in connection with the Change of Control.
For the avoidance of doubt, the payments and benefits described under this Section 6(d) and the Accrued Obligations shall be the only payments and benefits to which the Executive is entitled in the event that the Executive’s employment terminates under this Section 6(d).
(e) Death. In the event of the Executive’s death while employed hereunder, and subject to Section 6(g), the Executive’s beneficiary (or such other person(s) specified by will or the laws of descent and distribution) shall be entitled to receive a lump-sum payment in an amount equal to three months’ Base Salary in effect as of the Termination Date (less applicable withholding taxes), which amount shall be payable in a single lump sum on the first payroll date that is at least 60 days following the Termination Date (but, in any event, by no later than March 15 of the calendar year immediately following the calendar year that includes the Termination Date), in accordance with Section 14(b)(ii).
(f) Disability. In the event of the Executive’s termination of employment with the Company due to Disability, and subject to Section 6(g), the Executive shall be entitled to receive a lump- sum payment in an amount equal to six months’ Base Salary in effect as of the Termination Date (less applicable withholding taxes), which amount shall be payable in a single lump sum on the first payroll date that is at least 60 days following the Termination Date (but, in any event, by no later than March 15 of the calendar year immediately following the calendar year that includes the Termination Date), in accordance with Section 14(b)(ii).

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(g) Release and Other Conditions. The payments and benefits described in Sections 6(c) through 6(f) are expressly conditioned on (i) the Executive (or, in the case of the Executive’s death, the Executive’s representative) signing and delivering (and not revoking thereafter) a Release to the Company (which, in the case of the Executive’s death, also releases any claims by the Executive’s estate or survivors), which Release is executed, delivered and effective no later than 60 days following the Termination Date and (ii) the Executive continuing to satisfy any obligations to the Company under this Agreement, the Release and the Confidentiality and Non-Competition Agreement that are incorporated herein by reference, and any other agreement(s) between the Executive and the Company. In the event the Release described in Section 6(g)(i) is not executed, delivered and effective by the 60th day after the Termination Date, none of such payments or benefits shall be provided to the Executive.
7. Section 280G
(a) Amount of Payments and Benefits. Notwithstanding anything to the contrary herein, in the event that the Executive becomes entitled to receive or receives any payments, options, awards or benefits (including, without limitation, the monetary value of any noncash benefits and the accelerated vesting of equity-based awards) under this Agreement or under any other plan, agreement or arrangement with the Company or any person affiliated with the Company (collectively, the “Payments”), that may separately or in the aggregate constitute “parachute payments” within the meaning of Section 280G of the Code and the Treasury Regulations promulgated thereunder (or any similar or successor provision) (collectively, “Section 280G”) and it is determined that, but for this Section 7(a), any of the Payments will be subject to any excise tax pursuant to Section 4999 of the Code or any similar or successor provision (the “Excise Tax”), the Company shall pay to the Executive either (i) the full amount of the Payments or (ii) an amount equal to the Payments, reduced by the minimum amount necessary to prevent any portion of the Payments from being an “excess parachute payment” (within the meaning of Section 280G) (the “Capped Payments”), whichever of the foregoing amounts results in the receipt by the Executive, on an after-tax basis, of the greatest amount of Payments notwithstanding that all or some portion of the Payments may be subject to the Excise Tax. For purposes of determining whether the Executive would receive a greater after-tax benefit from the Capped Payments than from receipt of the full amount of the Payments, (i) there shall be taken into account any Excise Tax and all applicable federal, state and local taxes required to be paid by the Executive in respect of the receipt of such payments and (ii) such payments shall be deemed to be subject to federal income taxes at the highest rate of federal income taxation applicable to individuals that is in effect for the calendar year in which the payments and benefits are to be paid, and state and local income taxes at the highest rate of taxation applicable to individuals in the state and locality of the Executive’s residence on the effective date of the relevant transaction described under Section 280G(b)(2)(A)(i) of the Code, net of the maximum reduction in federal income taxes that could be obtained from deduction of such state and local taxes (as determined by assuming that such deduction is subject to the maximum limitation applicable to itemized deductions under Section 68 of the Code and any other limitations applicable to the deduction of state and local income taxes under the Code).

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(b) Computations and Determinations.  All computations and determinations called for by this Section 7 shall be made by an independent accounting firm or independent tax counsel appointed by the Company (the “Tax Counsel”), and all such computations and determinations shall be conclusive and binding on the Company and the Executive. For purposes of such calculations and determinations, the Tax Counsel may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of the Code. The Tax Counsel shall submit its determination and detailed supporting calculations to both the Executive and the Company within 15 days after receipt of a notice from either the Company or the Executive that the Executive may receive payments which may be considered “parachute payments.” The Company and the Executive shall furnish to the Tax Counsel such information and documents as the Tax Counsel may reasonably request in order to make the computations and determinations called for by this Section 7. The Company shall bear all costs that the Tax Counsel may reasonably incur in connection with the computations and determinations called for by this Section 7.
(c) Reduction Methodology. In the event that Section 7(a) applies and a reduction is required to be applied to the Payments thereunder, the Payments shall be reduced by the Company in its reasonable discretion in the following order: (i) reduction of any Payments that are subject to Section 409A on a pro-rata basis or such other manner that complies with Section 409A, as determined by the Company, and (ii) reduction of any Payments that are exempt from Section 409A.
8. No Impediment to Agreement
The Executive hereby represents to the Company that the Executive is not, as of the date hereof, and will not be, during the Executive’s employment with the Company, employed under contract, oral or written, by any other person, firm or entity, and is not and will not be bound by the provisions of any restrictive covenant or confidentiality agreement that would constitute an impediment to, or restriction upon, the Executive’s ability to enter this Agreement and to perform the duties of the Executive’s employment.
9. Confidentiality and Non-Competition Agreement
The Confidentiality and Non-Competition Agreement is incorporated by reference as if set forth fully herein. The Confidentiality and Non-Competition Agreement shall survive the termination of this Agreement and/or the Executive’s employment with the Company.
10. Cooperation
The Executive hereby agrees to provide the Executive’s full cooperation, at the request of the Company, with any of the Company Releasees (as defined in the Release) in any and all such lawsuits, investigations or other legal, equitable or business matters or proceedings which involve any matters for which the Executive worked on or had responsibility during the Executive’s employment with the Company.  The Executive also agrees to be available to the Company and its representatives (including attorneys) to provide general advice or assistance as requested by the Company.  This includes but is not limited to testifying (and preparing to 
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testify) as a witness in any proceeding or otherwise providing information or reasonable assistance to the Company in connection with any investigation, claim or suit, and cooperating with the Company regarding any investigation, litigation, claims or other disputed items involving the Company that relate to matters within the knowledge or responsibility of the Executive.  Specifically, the Executive agrees (i) to meet with the Company’s representatives, its counsel or other designees at reasonable times and places with respect to any items within the scope of this provision; (ii) to provide truthful testimony regarding same to any court, agency or other adjudicatory body; (iii) to provide the Company with immediate notice of contact or subpoena by any non-governmental adverse party (known to the Executive to be adverse to the Company or its interests); and (iv) to not voluntarily assist any such non-governmental adverse party or such non-governmental adverse party’s representatives.  The Executive acknowledges and understands that the Executive’s obligations of cooperation under this Section 10 are not limited in time and may include, but shall not be limited to, the need for or availability for testimony.  The Executive shall receive no additional compensation for time spent assisting the Company pursuant to this Section 10 other than the compensation and benefits provided for in this Agreement, provided that the Executive shall be entitled to be reimbursed for any reasonable out-of-pocket expenses incurred in fulfilling the Executive’s obligations pursuant to subsections (i) and (ii) above.  Notwithstanding the foregoing, nothing in this Section 10 is intended to interfere with the Executive’s No Interference rights set forth in Section 1(c) of the Confidentiality and Non-Competition Agreement.
11. Arbitration
(a) The Executive agrees that any dispute and/or claim between the Company (including without limitation its officers, directors, employees agents or shareholders and its subsidiaries) and the Executive that underlies, relates to and/or results from the Executive’s employment relationship with the Company or the termination of that relationship or any of the terms of this Agreement, except for any dispute or claim arising from or relating to the Confidentiality and Non-Competition Agreement, that cannot be resolved by mutual agreement of the Company and the Executive will be submitted to final, binding arbitration to the maximum extent permitted by law in accordance with the National Rules for the Resolution of Employment Disputes of the American Arbitration Association that are then in effect.  This arbitration provision includes, but is not limited to, claims of wrongful discharge, infliction of emotional distress, breach of contract (including breach of this Agreement), breach of any covenant of good faith and fair dealing, and claims of retaliation and/or discrimination in violation of any local, state or federal law. Examples of such laws include Title VII of the Civil Rights Act of 1964; the Age Discrimination in Employment Act of 1967; the Americans with Disabilities Act of 1990; and the Family and Medical Leave Act of 1993, and all amendments to each such law as well as the regulations issued thereunder. This arbitration provision does not affect the Executive’s right to pursue worker’s compensation or unemployment compensation benefits for which he may be eligible in accordance with state law, nor does it affect the Executive’s right to file and/or to cooperate in the investigation of an administrative charge of discrimination.  
(b) Notwithstanding this arbitration provision, either the Executive or the Company may apply to any court of competent jurisdiction for a temporary restraining order, preliminary 
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injunction, or other interim or conservatory relief, as necessary, without breach of this Agreement and without abridgement of the powers of the arbitrator.  
(c) This arbitration provision does not apply to any dispute or claim arising from or relating to the Confidentiality and Non-Competition Agreement.
(d) The Company, as further consideration for the Executive’s agreement to arbitrate covered disputes, agrees to pay for the arbitrator’s fees and other costs directly associated with the arbitration that would not otherwise be charged if the parties pursued civil litigation in court.
12. Successors; Personal Services
The services and duties to be performed by the Executive hereunder are personal and may not be assigned or delegated.  This Agreement shall be binding upon and inure to the benefit of the Company and its successors and assigns, and the Executive and the Executive’s heirs and representatives.
13. Notices
Notices and all other communications contemplated by this Agreement shall be in writing and shall be deemed to have been duly given when personally delivered or when mailed by U.S. registered or certified mail, return receipt requested and postage prepaid. In the case of the Executive, mailed notices shall be addressed to the Executive at the home address the Executive most recently communicated to the Company in writing. In the case of the Company, mailed notices shall be addressed to its corporate headquarters, and all notices shall be directed to the attention of its President and Chief Executive Officer.
14. Section 409A
(a) The parties intend that this Agreement and the payments and benefits provided hereunder be exempt from the requirements of Section 409A, to the maximum extent possible, whether pursuant to the short-term deferral exception described in Treasury Regulation Section 1.409A-1(b)(4), the involuntary separation pay plan exception described in Treasury Regulation Section 1.409A-1(b)(9)(iii), or otherwise. To the extent Section 409A is applicable to this Agreement, the parties intend that this Agreement and any payments and benefits thereunder comply with the deferral, payout and other limitations and restrictions imposed under Section 409A. Notwithstanding anything herein to the contrary, this Agreement shall be interpreted, operated and administered in a manner consistent with such intentions.
(b) Without limiting the generality of the foregoing, and notwithstanding any other provision of this Agreement to the contrary:
(i) if the Executive is deemed on the date of termination to be a “specified employee” within the meaning of that term under Section 409A, then with regard to any payment that is considered a “deferral of compensation” under Section 409A payable on account of a “separation from service,” such payment shall be made on the date which is the earlier of (A) the 
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date that is six months and one day after the date of such “separation from service” of the Executive and (B) the date of the Executive’s death (the “Delay Period”), to the extent required under Section 409A.  Within ten business days following the expiration of the Delay Period, all payments delayed pursuant to this Section 14(b)(i) (whether they would have otherwise been payable in a single sum or in installments in the absence of such delay) shall be paid to the Executive in a lump sum, and all remaining payments due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for those payments in this Agreement;
(ii) to the extent that any payments or benefits under this Agreement are conditioned on a Release, if the Release is executed and delivered by the Executive to the Company and becomes irrevocable and effective within the specified 60-day post-termination period, then, subject to Section 14(b)(i) and to the extent not exempt under Section 409A, such payments or benefits shall be made or commence on the first payroll date after the date that is 60 days after the Termination Date (but, in any event, by no later than March 15 of the calendar year immediately following the calendar year that includes the Termination Date). If a payment or benefit under this Agreement is conditioned on a Release and such Release is not executed, delivered and effective by the 60th day after the Termination Date, such payment or benefit shall not be paid or provided to the Executive;
(iii) all expenses or other reimbursements under this Agreement shall be made on or prior to the last day of the taxable year following the taxable year in which such expenses were incurred by the Executive. No such reimbursement or expenses eligible for reimbursement in any taxable year shall in any way affect the expenses eligible for reimbursement in any other taxable year, and the Executive’s right to reimbursement shall not be subject to liquidation or exchange for any other benefit; 
(iv) for purposes of Section 409A, the Executive’s right to receive a series of installment payments pursuant to this Agreement shall be treated as a right to receive a series of separate and distinct payments. Whenever a payment under this Agreement specifies a payment period with reference to a number of days (e.g., “payment shall be made within 30 days”), the actual date of payment within the specified period shall be within the sole discretion of the Company;
(v) in no event shall any payment under this Agreement that constitutes a “deferral of compensation” for purposes of Section 409A be offset by any other payment pursuant to this Agreement or otherwise; and
(vi) to the extent required for purposes of compliance with Section 409A, termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment of any amounts or benefits upon or following a termination of employment unless such termination is also a “separation from service” within the meaning of Section 409A, and for purposes of any such provision of this Agreement, references to a “termination,” “termination of employment” or like terms shall mean “separation from service.”

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(c) The Company and the Executive agree to work together in good faith to consider amendments to this Agreement and to take such reasonable actions that may be necessary, appropriate, or desirable to avoid imposition of additional tax or income recognition on the Executive under Section 409A, in each case to the maximum extent permitted by applicable law. Notwithstanding any provision of this Agreement to the contrary, (i) in no event will the Company be liable for any additional tax, interest or penalty that may be imposed on the Executive by Section 409A or damages for failing to comply with Section 409A and (ii) the Executive acknowledges and agrees that the Executive will not have any claim or right of action against the Company or any of its employees, officers, directors or agents in the event it is determined that any payment or benefit provided hereunder does not comply with Section 409A.
15. Miscellaneous Provisions
(a) Waiver. No provision of this Agreement shall be modified, waived or discharged unless the modification, waiver or discharge is agreed to in writing and signed by the Executive and by an authorized officer of the Company (other than the Executive).  No waiver by either party of any breach of, or of compliance with, any condition or provision of this Agreement by the other party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time.
(b) Entire Agreement. This Agreement (including exhibits) shall supersede and replace all prior agreements or understandings relating to the subject matter hereof, and no agreements, representations or understandings (whether oral or written or whether express or implied) that are not expressly set forth in this Agreement have been made or entered into by either party with respect to the relevant matters hereof.  This Agreement may not be modified except expressly in a writing signed by both parties.
(c) Disclaimer of Reliance.  Except for the specific representations expressly made by the Company in this Agreement, the Executive specifically disclaims that the Executive is relying upon or has relied upon any communications, promises, statements, inducements, or representation(s) that may have been made, oral or written, regarding the subject matter of this Agreement.  The Executive represents that the Executive relied solely and only on the Executive’s own judgment in making the decision to enter into this Agreement.
(d) Choice of Law. The validity, interpretation, construction and performance of this Agreement shall be governed by the internal substantive laws of the State of Texas without reference to any choice of law rules.
(e) Severability. The invalidity or unenforceability of any provision or provisions of this Agreement shall not affect the validity or enforceability of any other provision hereof, which shall remain in full force and effect.
(f) No Assignment of Benefits. The rights of any person to payments or benefits under this Agreement shall not be made subject to option or assignment, either by voluntary or involuntary assignment or by operation of law, in respect of bankruptcy, garnishment, attachment or other creditor’s process, and any action in violation of this Section 15(f) shall be void.

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(g) No Duty to Mitigate. The Executive shall not be required to mitigate the amount of any payment contemplated by this Agreement, nor shall any such payment be reduced by any earnings that the Executive may receive from any other source.
(h) Employment Taxes. All payments made pursuant to this Agreement will be subject to withholding of all applicable income, employment and other taxes.
(i) Assignment by Company. The Company may assign its rights under this Agreement to an affiliate (as defined under the Exchange Act), and an affiliate may assign its rights under this Agreement to another affiliate of the Company or to the Company. In the case of any such assignment, the term “Company” when used in a section of this Agreement shall mean the corporation that actually employs the Executive.
(j) Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together will constitute one and the same instrument.
[Signature Page Follows]

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IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company by its duly authorized officer, as of the day and year first above written.
			
	BLUCORA, INC.
	
	By:/s/ John S. Clendening 

	Name:   John S. Clendening
	Title:   President and Chief Executive Officer
	
	
	
	EXECUTIVE:
	
	/s/ Enrique Vasquez
	Enrique M. Vasquez

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EXHIBIT A 
CONFIDENTIALITY AND NON-COMPETITION AGREEMENT
This Confidentiality and Non-Competition (“Agreement”) is entered into by and between Blucora, Inc., its subsidiaries, affiliates, successors and/or assigns (the “Company”) and Enrique M. Vasquez (“Executive”).  The Effective Date of this Agreement is the date of Executive’s execution of this Agreement.  The Company and Executive shall be referred to herein individually as a “Party” and collectively as the “Parties.”  
NOW, THEREFORE, in consideration of the mutual covenants set forth herein, Executive’s position with the Company, the Confidential Information (defined below), compensation and benefits provided to Executive, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound hereby, the Parties agree as follows:  
2.Confidential Information and Executive’s Non-Disclosure Agreement.
(a) Confidential Information.  During Executive’s employment with the Company, the Company shall provide Executive with Confidential Information (defined below), which is not known to the Company’s competitors or within the Company’s industry generally, which was developed by the Company over a long period of time and/or at its substantial expense, and which is of great competitive value to the Company.  For purposes of this Agreement, “Confidential Information” includes all documents or information, in whatever form or medium, concerning or relating to any of the following:  all trade secrets and confidential and proprietary information of or relating to the Company, including, but not limited to: (A) financial models, business records, business plans or processes, strategies (including, without limitation, economic and market research selection and analysis strategies and business development and market segment exploitation strategies), tactics, policies, resolutions, processes, inventions, patents, trademarks, trade secrets, know how, patent or trademark applications and other intellectual property, (B) information regarding litigation or negotiations, (C) any marketing information, sales or product plans, prospects and market research data relating to the business, (D) financial information, cost and performance data and any debt arrangements, equity ownership or securities transaction information, (E) technical information, technical drawings and designs, (F) personnel information, personnel lists, resumes, personnel data, organizational structure, compensation and performance evaluations, (G) customer, consumer, consultants or supplier information, including but not limited to any data regarding any current, prospective or former customers, consumers, consultants or suppliers of Company, (H) information regarding the existence or terms of any agreement or relationship between the Company or any of its subsidiaries or affiliates and any other party, (I) information subject to Section 628 of the Fair Credit Reporting Act and any regulations or guidelines thereunder and (J) any other information of whatever nature, including, without limitation, information which gives to the Company or any of its subsidiaries or affiliates an opportunity to obtain an advantage over its competitors who or which do not have access to such information.  Confidential Information, whether prepared or compiled by Executive and/or the Company or furnished to Executive during Executive’s employment with the Company, shall be the sole and exclusive property of the 
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Company, and none of such Confidential Information or copies thereof, shall be retained by Executive.  Executive agrees not to dispute, contest, or deny any such ownership rights either during or after Executive’s employment with the Company.  Executive acknowledges that the Company does not voluntarily disclose Confidential Information, but rather takes precautions to prevent dissemination of Confidential Information beyond those employees such as Executive entrusted with such information.  Executive further acknowledges that the Confidential Information: (a) is entrusted to Executive because of Executive’s position with the Company; and (b) is of such value and nature as to make it reasonable and necessary for Executive to protect and preserve the confidentiality and secrecy of the Confidential Information.  Executive acknowledges and agrees that the Confidential Information is proprietary to and a trade secret of the Company and, as such, is a valuable, special and unique asset of the Company, the unauthorized use or disclosure of which will cause irreparable harm, substantial injury and loss of profits and goodwill to the Company.  “Confidential Information” does not include any information which is generally available to and known by the public or becomes generally available to and known by the public (other than as a result of Executive’s breach of this Agreement or any other agreement or obligation to keep such information confidential).  
(b) Non-Disclosure.  
(i) Executive agrees to preserve and protect the confidentiality of all Confidential Information.  Executive agrees that during the period of Executive’s employment with the Company and at any time thereafter (regardless of the reason for Executive’s separation or termination of employment): (A) Executive shall hold all Confidential Information in the strictest confidence, take all reasonable precautions and steps to safeguard all Confidential Information and prevent its wrongful use by or wrongful or inadvertent disclosure or dissemination to any unauthorized person or entity, and follow all policies and procedures of the Company protecting or regarding the Confidential Information; and (B) without prior written authorization of the Company, Executive shall not, directly or indirectly, use for Executive’s own account, use in any way or for any other purpose, disclose to anyone, publish, exploit, destroy, copy or remove from the offices of the Company, nor solicit, allow or assist another person or entity to use, disclose, publish, exploit, destroy, copy or remove from the offices of the Company, any Confidential Information or part thereof, except: (1) as permitted in the proper performance of Executive’s duties for the Company; (2) as permitted in the ordinary course of the Company’s business for the benefit of the Company; or (3) as otherwise permitted or required by law.  Executive shall immediately notify the Company if Executive learns of or suspects any actual or potential unauthorized use or disclosure of Confidential Information concerning the Company.  Further, the Executive shall not, directly or indirectly, use the Company’s Confidential Information to: (1) call upon, solicit business from, attempt to conduct business with, conduct business with, interfere with or divert business away from any customer, client, service provider, supplier or vendor of the Company with whom or which the Company conducted business; and/or (2) recruit, solicit, hire or attempt to recruit, solicit, or hire, directly or by assisting others, any persons employed by the Company.  In the event Executive is subpoenaed, served with any legal process or notice, or otherwise requested to produce or divulge, directly or indirectly, any Confidential Information by any entity, agency or person in any formal or informal proceeding including, but not limited to, any interview, deposition, 
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administrative or judicial hearing and/or trial, except where prohibited by law, Executive should immediately notify the Company and deliver a copy of the subpoena, process, notice or other request to the Company as promptly as possible, but under no circumstances more than ten (10) days following Executive’s receipt of same; provided, however, Executive is not required to notify the Company or provide a copy of the subpoena, process, notice or other request where Executive is permitted to make such disclosure of Confidential Information pursuant to this Agreement or applicable law or regulation, as set forth in Section 1(c) and Section 1(d).
(ii) Subject to Section 1(b)(iii), Executive agrees that Executive will not use or disclose any confidential, proprietary or trade secret information belonging to any former employer or third party, and Executive will not bring onto the premises of the Company or onto any Company property, any confidential, proprietary or trade secret information belonging to any former employer or third party without such third party’s written consent.  Executive acknowledges that that the Company has specifically instructed Executive not to disclose to the Company, use, or induce the Company to use, any confidential, proprietary or trade secret information belonging to any previous employer or others.    
(iii) During Executive’s employment, the Company will receive from third parties their confidential and/or proprietary information, subject to a duty on the Company’s part to maintain the confidentiality of and to use such information only for certain limited purposes.  Executive agrees to hold all such confidential or proprietary information in the strictest confidence and not to disclose it to any person or organization or to use it except as necessary in the course of Executive’s employment with the Company and in accordance with the Company’s agreement with such third party.
(iv) Except in the proper performance of Executive’s duties and responsibilities, Executive agrees that Executive shall not remove, destroy, deface, damage or delete any Property of the Company.  For purposes of this Agreement, the term “Property” means all property or information, in whatever form or media, and all copies thereof whether or not the original was deleted or destroyed, of the Company, including, without limitation, any Confidential Information, software, hardware, including any and all Company-issued equipment, devices, cellular telephones, tablets, computers, laptops, hard drives, keys, access cards, access codes or passwords belonging to the Company, databases, files, records, reports, memoranda, research, plans, proposals, lists, forms, drawings, specifications, notebooks, manuals, correspondence, materials, e-mail, electronic or magnetic recordings or data, and any other physical or electronic documents that Executive receives from or sends to any employee of the Company, that Executive copies from the files or records of the Company, or that Executive otherwise has access to during Executive’s employment.  
(c) No Interference.  Notwithstanding any other provision of this Agreement, (i) Executive may disclose Confidential Information when required to do so by a court of competent jurisdiction, by any governmental agency having authority over Executive or the business of the Company or by any administrative body or legislative body (including a committee thereof) with jurisdiction to order Executive to divulge, disclose or make accessible such information; and (ii) nothing in this Agreement is intended to interfere with Executive’s 
CONFIDENTIALITY AND NON-COMPETITION AGREEMENT Page 3

right to (A) report possible violations of state or federal law or regulation to any governmental or law enforcement agency or entity; (B) make other disclosures that are protected under the whistleblower provisions of state or federal law or regulation; (C) file a claim or charge with any governmental agency or entity; or (D) testify, assist, or participate in an investigation, hearing, or proceeding conducted by any governmental or law enforcement agency or entity, or any court.  For purposes of clarity, in making or initiating any such reports or disclosures or engaging in any of the conduct outlined in subsection (ii) above, Executive may disclose Confidential Information to the extent necessary to such governmental or law enforcement agency or entity or such court, need not seek prior authorization from the Company, and is not required to notify the Company of any such reports, disclosures or conduct.
(d) Defend Trade Secrets Act.  Executive is hereby notified in accordance with the Defend Trade Secrets Act of 2016 that Executive will not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that is made in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney solely for the purpose of reporting or investigating a suspected violation of law, or is made in a complaint or other document that is filed under seal in a lawsuit or other proceeding.  
(e) Inventions.
(i) Prior Inventions Retained and Licensed.  In Exhibit A-1 to this Agreement, Executive has provided a list describing all Inventions (defined below) that Executive: (A) conceived, created, developed, made, reduced to practice or completed, either alone or with others, prior to Executive’s employment with the Company; (B) claims a proprietary right or interest in; and (C) does not assign to the Company hereunder (collectively referred to as the “Prior Inventions”).  If no such list is attached, Executive represents that there are no such Prior Inventions.  Executive understands and agrees that the Company makes no attempt to verify Executive’s claim of ownership to any of the Prior Inventions.  Executive agrees that Executive shall not incorporate in any work that Executive performs for the Company any Prior Inventions or any of the technology described in any Prior Inventions.  Nonetheless, if in the course of Executive’s employment with the Company, Executive incorporates Prior Inventions into a product, service, process or machine of the Company, Executive hereby grants and shall be deemed to have granted the Company a nonexclusive, royalty-free, irrevocable, sublicensable, transferable, perpetual, and worldwide license to make, have made, modify, use, import, reproduce, distribute, prepare and have prepared derivative works of, offer to sell, sell and otherwise exploit such Prior Inventions.  For purposes of this Agreement, the term “Inventions” means all tangible and intangible materials, work product, information, methods, designs, computer programs, software, databases, formulas, models, prototypes, reports, discoveries, ideas, improvements, know-how, compositions of matter, processes, photographs, drawings, illustrations, sketches, developments, and all related intellectual property, including inventions, original works of authorship, moral rights, mask works, trade secrets and trademarks.
(ii) Assignment of Inventions.  During Executive’s employment with the Company and following the termination of Executive’s employment for any reason, Executive agrees that Executive shall promptly make full written disclosure to the Company, shall hold in 
CONFIDENTIALITY AND NON-COMPETITION AGREEMENT Page 4

trust for the sole right and benefit of the Company, and hereby assigns and shall be deemed to have assigned to the Company or its designee, all of Executive’s right, title, and interest in and to any and all Inventions that have been or may be conceived, created, developed, completed, reduced to practice or otherwise made by Executive, solely or jointly with others, during the period of Executive’s employment with the Company which (A) relate in any manner to the existing or contemplated business, work, or investigations of the Company; (B) are suggested by, result from, or arise out of any work that Executive may do for or on behalf of the Company; (C) result from or arise out of any Confidential Information that may have been disclosed or otherwise made available to Executive as a result of duties assigned to Executive by the Company; or (D) are otherwise made through the use of the time, information, equipment, facilities, supplies or materials of the Company, even if developed, conceived, reduced to practice or otherwise made during other than working hours (collectively referred to as “Company Inventions”).  Executive further acknowledges that all original works of authorship that are made by Executive (solely or jointly with others) within the scope of Executive’s employment with the Company and that are protectable by copyright are “Works Made for Hire,” as that term is defined in the United States Copyright Act.  Executive understands and agrees that the decision whether or not to commercialize or market any Company Inventions is within the Company’s sole discretion and for the Company’s sole benefit, and that no royalty will be due to Executive as a result of the Company’s efforts to commercialize or market any such Company Invention.
(iii) Maintenance of Records.  Executive agrees to keep and maintain adequate and current hard-copy and electronic records of all Company Inventions.  The records will be available to and remain the sole property of the Company during Executive’s employment with the Company and at all times thereafter.
(f) Patent and Copyright Registrations.  Executive agrees to assist the Company or its designee, at the Company’s expense, in every proper way to secure the Company’s rights in Company Inventions in any and all countries, including the disclosure to the Company of all pertinent information and data with respect thereto, the execution of all applications, specifications, oaths, assignments, affidavits, and all other instruments which the Company shall deem necessary in order to apply for and obtain such rights and in order to assign and convey to the Company and/or its successors, assigns and nominees, the sole and exclusive rights, title and interest in and to such Company Inventions.  Executive further agrees that Executive’s obligation to execute or cause to be executed, when it is in Executive’s power to do so, any such instrument or papers shall continue after the termination of this Agreement.  Executive hereby appoints the General Counsel of the Company as Executive’s attorney-in-fact to execute documents on Executive’s behalf for this purpose.  Executive agrees that this appointment is coupled with an interest and will not be revocable.
(g) Return of Company Property.  Upon request by the Company or upon the termination of Executive’s employment for any reason, Executive shall immediately return and deliver to the Company any and all Property, including, without limitation, Confidential Information, software, hardware, including any and all Company-issued equipment, devices, cellular telephones, tablets, computers, laptops, hard drives, keys, access cards, access codes or 
CONFIDENTIALITY AND NON-COMPETITION AGREEMENT Page 5

passwords, databases, files, documents, records, reports, memoranda, research, plans, proposals, lists, papers, books, forms, drawings, specifications, notebooks, manuals, correspondence, materials, e-mail, electronic or magnetic recordings or data, including all copies thereof (in electronic or hard copy format), which belong to the Company or which relate to the Company’s business and which are in Executive’s possession, custody or control, whether prepared by Executive or others.  Executive further agrees that after Executive provides such Property to the Company, Executive will immediately destroy any information or documents, whether prepared by Executive or others, containing or reflecting any Confidential Information or relating to the business of the Company from any computer, cellular phone or other digital or electronic device in Executive’s possession, custody or control, and Executive shall certify such destruction in writing to the Company.  Upon request by the Company, Executive shall provide such computer, cellular phone or other digital or electronic device to the Company or the Company’s designee for inspection to confirm that such information and documents have been destroyed.  If at any time after the termination of Executive’s employment for any reason, Executive or the Company determines that Executive has any Property in Executive’s possession, custody or control, Executive shall immediately return all such Property, including all copies and portions thereof, to the Company.  
2. Restrictive Covenants.  In consideration for (i) the Company’s promise to provide Confidential Information; (ii) the substantial economic investment made by the Company in the Confidential Information and goodwill of the Company, and/or the business opportunities disclosed or entrusted to Executive; (iii) access to the customers and clients of the Company; and (iv) the Company’s employment of Executive in an executive position and the compensation and other benefits provided by the Company to Executive (including the consideration provided for in the Incentive Retention Letter), to protect the Confidential Information and business goodwill of the Company, Executive agrees to the following restrictive covenants.
(a) Non-Competition.  Executive agrees that during the Executive’s employment with the Company and for a period of twelve (12) months after the Executive’s employment terminates for any reason (the “Restricted Period”), other than in connection with Executive’s performance of his duties for the Company, Executive shall not, and shall not use any Confidential Information to, without the prior written consent of an officer of the Company, directly or indirectly, either individually or as a principal, partner, stockholder, manager, agent, consultant, contractor, distributor, employee, lender, investor, or as a director or officer of any corporation or association, or in any other manner or capacity whatsoever, (i) control, manage, operate, establish, take steps to establish, lend money to, invest in, solicit investors for, or otherwise provide capital to, or (ii) become employed by, join, perform services for, consult for, do business with or otherwise engage in any Competing Business within the Restricted Area.  For purposes of this Consulting Agreement, given the scope of Confidential Information to be provided to Executive and job duties to be performed by the Executive, “Restricted Area” means the United States, and any other geographic area for which Executive performed any services or about which Executive received Confidential Information.  For purposes of this Agreement, “Competing Business” means any business, individual, partnership, firm, corporation or other entity that is competing or that is preparing to compete with any aspect of the Company’s 
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business, which includes, but is not limited to (a) tax preparation and tax preparation-related products and services provided to consumers and small businesses, and to or through tax professionals; (b) investment and insurance products or services, and related advice and brokerage services, provided to or through tax professionals or in conjunction with tax preparation services, and (c) any other business the Company engages in or develops during the Executive’s employment with the Company.
(b) Non-Solicitation.  During the Restricted Period, other than in connection with Executive’s duties for the Company, Executive shall not, and shall not use any Confidential Information to, directly or indirectly, either as a principal, manager, agent, employee, consultant, officer, director, stockholder, partner, investor or lender or in any other capacity, and whether personally or through other persons, solicit business from, interfere with, or induce to curtail or cancel any business or contracts with the Company, or attempt to solicit business with, interfere with, or induce to curtail or cancel any business or contracts with the Company, or do business with any actual or prospective customer or client of the Company with whom the Company did business or who the Company solicited within the preceding two (2) years, and who or which: (1) Executive contacted, called on, serviced or did business with during Executive’s employment with the Company; (2) Executive learned of as a result of Executive’s employment with the Company; or (3) about whom Executive received Confidential Information.  This restriction applies only to business which is in the scope of services or products provided by the Company.
(c) Non-Recruitment.  During the Restricted Period, other than in connection with Executive’s duties for the Company, Executive shall not, on behalf of Executive or on behalf of any other person or entity, directly or indirectly, hire, solicit or recruit, or attempt to hire, solicit or recruit, or encourage to leave or otherwise cease his/her employment or engagement with the Company, any individual who is an employee or independent contractor of the Company or who was an employee or independent contractor of the Company within the twelve (12) month period prior to Executive’s separation from employment with the Company.
(d) Non-Disparagement.  Executive agrees that the Company’s goodwill and reputation are assets of great value to the Company, which have been obtained and maintained through great costs, time and effort.  Therefore, Executive agrees that during Executive’s employment and after the termination of Executive’s employment, Executive shall not make, publish or otherwise transmit any knowingly false statements, whether written or oral, regarding the Company and its officers, directors, executives, employees, contractors, consultants, products, services, business or business practices.  A violation or threatened violation of this Section 2(d) may be enjoined by the courts.  The rights afforded the Company under this provision are in addition to any and all rights and remedies otherwise afforded by law.  However, nothing in this Section 2(d) restricts or prevents Executive from providing truthful testimony as required by court order or other legal process or is intended to interfere with Executive’s rights set forth in Section 1(c).
(e) Tolling.  If Executive violates any of the covenants contained in this Section 2, the Restricted Period applicable to such covenant(s) shall be suspended and shall not run in favor of Executive from the time of the commencement of such violation until the time that Executive 
CONFIDENTIALITY AND NON-COMPETITION AGREEMENT Page 7

cures the violation to the satisfaction of the Company and the period of time in which Executive is in breach shall be added to the Restricted Period applicable to such covenant(s).
3. Reasonableness.  Executive hereby represents to the Company that Executive has read and understands, and agrees to be bound by, the terms of Section 1 and Section 2.  Executive acknowledges that the scope and duration of the restrictions and covenants contained in Section 1 and Section 2 are fair and reasonable in light of (i) the nature and scope of the operations of the Company’s business; and (ii) the amount of compensation and Confidential Information (including, without limitation, trade secrets) that Executive is receiving in connection with Executive’s employment with the Company and the Incentive Retention Letter.  It is the desire and intent of the Parties that the provisions of Section 1 and Section 2 be enforced to the fullest extent permitted under applicable law, whether now or hereafter in effect and therefore, to the extent permitted by applicable law, Executive and the Company hereby waive any provision of applicable law that would render any provision of Section 1 and/or Section 2 invalid or unenforceable.
4. Remedies.  Executive acknowledges that the restrictions and covenants contained in Section 1 and Section 2, in view of the nature of the Company’s business and Executive’s position with the Company, are reasonable and necessary to protect the Company’s legitimate business interests, goodwill and reputation, and that any violation of Section 1 or Section 2 would result in irreparable injury and continuing damage to the Company, and that money damages would not be a sufficient remedy to the Company for any such breach or threatened breach.  Therefore, Executive agrees that the Company shall be entitled to a temporary restraining order and injunctive relief restraining Executive from the commission of any breach or threatened breach of Section 1 and/or Section 2, without the necessity of establishing irreparable harm or the posting of a bond, and to recover from Executive damages incurred by the Company as a result of the breach, as well as the Company’s attorneys’ fees, costs and expenses related to any breach or threatened breach of this Agreement and enforcement of this Agreement.  Nothing contained in this Agreement shall be construed as prohibiting the Company from pursuing any other remedies available to it for any breach or threatened breach, including, without limitation, the recovery of money damages, attorneys’ fees, and costs.  The existence of any claim or cause of action by Executive against the Company, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by the Company of the restrictions or covenants contained in Section 1 or Section 2, or preclude injunctive relief.
5. Business Opportunities.  Executive, without further compensation, assigns and agrees to assign to the Company and its successors, assigns or designees, all of Executive’s right, title and interest in and to all Business Opportunities (defined below), and further acknowledges and agrees that all Business Opportunities constitute the exclusive property of the Company.  Executive shall present all Business Opportunities to the Company, and shall not exploit a Business Opportunity.  For purposes of this Agreement, “Business Opportunities” means all business ideas, prospects, or proposals pertaining to any aspect of the Company’s business and any business the Company prepared to conduct or contemplated conducting during Executive’s employment with the Company, which are developed by Executive or originated by any third party and brought to the attention of Executive, together with information relating thereto.  For 
CONFIDENTIALITY AND NON-COMPETITION AGREEMENT Page 8

the avoidance of doubt, this Section 5 is not intended to limit or narrow Executive’s duties or obligations under federal or state law with respect to corporate opportunities.  
6. Conflicting Activities.  Executive agrees that, during Executive’s employment with the Company, Executive shall not engage in any employment, consulting relationship, business or other activity that (i) is in any way competitive with the business or proposed business of the Company (except that Executive may invest less than one percent (1%) of the shares of a company traded on a registered stock exchange); (ii) conflicts with Executive’s duty of loyalty, responsibilities or obligations to the Company or interferes with the independent exercise of Executive’s judgment in the Company’s best interests; or (iii) adversely affects the performance of Executive’s job duties and responsibilities with the Company.  Executive agrees to not assist any other person or organization in competing with the Company or in preparing to engage in competition with the Company or proposed business of the Company.  Executive further agrees that, during Executive’s employment with the Company, Executive shall not actively engage in any other employment, occupation or consulting activity for any direct or indirect remuneration without the prior approval of Executive’s direct supervisor or the Company’s Legal Department.  Executive has listed on the Company’s Outside Activity Disclosure form, attached hereto as Exhibit B-1, any business activities or ventures with which Executive is involved.  If no such list is attached, Executive represents that there are no such outside activities as of the date of this Agreement.
7. Breach  Executive acknowledges that Executive is subject to immediate dismissal by the Company for any breach of this Agreement and that such a dismissal will not relieve Executive from any continuing obligations under this Agreement or from the imposition by a court of any judicial remedies, including, without limitation, money damages and/or injunctive relief for such breach.
8. Notice.  If Executive, in the future, seeks or is offered employment, or any other position or capacity with another company, entity or person, Executive agrees to inform each such company, entity or person of the existence of the restrictions in Section 1 and Section 2.  The Company shall be entitled to advise such company, entity or person and third parties of the provisions of Section 1 and Section 2 and to otherwise deal with such company, entity, person or third party to ensure that the provisions of Section 1 and Section 2 are enforced and duly discharged. 
9. Reformation.  The Company and Executive agree that in the event any of the terms, provisions, covenants or restrictions contained in this Agreement, or any part thereof, shall be held by any court of competent jurisdiction to be effective in any particular area or jurisdiction only if said term, provision, covenant or restriction is modified to limit its duration or scope, then the court shall have such authority to so reform the term, provision, covenant or restriction and the Parties hereto shall consider such term, provision, covenant or restriction to be amended and modified with respect to that particular area or jurisdiction so as to comply with the order of any such court and, as to all other jurisdictions, the term, provision, covenant or restriction contained herein shall remain in full force and effect as originally written.  By agreeing to this contractual modification prospectively at this time, the Company and Executive 
CONFIDENTIALITY AND NON-COMPETITION AGREEMENT Page 9

intend to make Section 1 and Section 2 enforceable under the law or laws of all applicable jurisdictions so that the restrictive covenants in their entirety and this Agreement as prospectively modified shall remain in full force and effect and shall not be rendered void or illegal.
10. Severability.  In the event any court of competent jurisdiction or any foreign, federal, state, county or local government or any other governmental regulatory or administrative agency or authority holds any provision of this Agreement to be invalid, illegal or unenforceable, such invalid, illegal or unenforceable portion(s) shall be limited or excluded from this Agreement to the minimum extent required, and the remaining provisions shall not be affected or invalidated and shall remain in full force and effect.  
11. Binding Effect of Agreement and Assignment.  This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective heirs, successors, legal representatives and permitted assigns.  Executive may not assign this Agreement to a third party.  The Company may assign its rights, together with its obligations hereunder, to any affiliate and/or subsidiary of the Company or any successor thereto or any purchaser of substantially all of the assets of the Company, without Executive’s consent and without advance notice.
12. Survival.  Executive agrees that Executive’s obligations under this Agreement shall continue in effect after the termination of Executive’s employment, regardless of the reason(s) for termination, and whether such termination is voluntary or involuntary.   
13. Waiver.  The failure of either Party to insist in any one or more instances upon performance of any terms or conditions of this Agreement shall not be construed as a waiver of future performance of any such term, covenant or condition, but the obligations of either Party with respect thereto shall continue in full force and effect.  No waiver of any breach of this Agreement shall be construed to be a waiver as to succeeding breaches and no waiver of any provisions of this Agreement shall constitute a waiver of any other provision of this Agreement.  The breach by one Party to this Agreement shall not preclude equitable relief, injunctive relief or the obligations in Section 1 or Section 2. 
14. Controlling Law.  This Agreement shall be governed by and construed under the laws of the State of Texas, without regard to any applicable conflict of law or choice of law rules.  
15. Venue.  Venue of any dispute arising out of, in connection with or in any way related to this Agreement shall be in a state district court of competent jurisdiction in Dallas County, Texas, or the United States District Court for the Northern District of Texas.  Executive consents to personal jurisdiction of the state district courts of Dallas County, Texas and to the United States District Court for the Northern District of Texas for any dispute arising out of, in connection with or in any way related to this Agreement, and agrees that Executive shall not challenge personal jurisdiction in such courts.  Executive waives any objection that Executive may now or hereafter have to the venue or jurisdiction of any proceeding in such courts or that any such proceeding was brought in an inconvenient forum (and agrees not to plead or claim the same).  

CONFIDENTIALITY AND NON-COMPETITION AGREEMENT Page 10

16. WAIVER OF JURY TRIAL.  WITH RESPECT TO ANY DISPUTE BETWEEN EXECUTIVE AND THE COMPANY ARISING OUT OF, IN CONNECTION WITH OR IN ANY WAY RELATED TO THIS AGREEMENT, EMPLOYEE AGREES TO RESOLVE SUCH DISPUTE(S) BEFORE A JUDGE WITHOUT A JURY.  EMPLOYEE HAS KNOWLEDGE OF THIS PROVISION, AND WILL PROVIDE SERVICES TO THE COMPANY THEREAFTER, HEREBY WAIVING EXECUTIVE’S RIGHT TO TRIAL BY JURY AND AGREES TO HAVE ANY DISPUTE(S) ARISING BETWEEN THE COMPANY AND EXECUTIVE ARISING OUT OF, IN CONNECTION WITH OR IN ANY WAY RELATED TO THIS AGREEMENT RESOLVED BY A JUDGE OF A COMPETENT COURT IN DALLAS COUNTY, TEXAS, SITTING WITHOUT A JURY.   
17. Entire Agreement.  This Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof, and fully supersedes any and all prior and contemporaneous agreements, understandings and/or representations between the Parties, whether oral or written, pertaining to the subject matter of this Agreement; provided, however, Executive’s obligations under this Agreement are in addition to Executive’s obligations under any applicable law or regulation and the Company’s policies and procedures.  No oral statements or prior written material not specifically incorporated in this Agreement shall be of any force and effect, and no changes in or additions to this Agreement shall be recognized, unless incorporated in this Agreement by written amendment, such amendment to become effective on the date stipulated in it.  Any amendment to this Agreement must be signed by all parties to this Agreement.  
18. Disclaimer of Reliance.  Except for the specific representations expressly made by the Company in this Agreement, Executive specifically disclaims that Executive is relying upon or has relied upon any communications, promises, statements, inducements, or representation(s) that may have been made, oral or written, regarding the subject matter of this Agreement.  Executive represents that Executive relied solely and only on Executive’s own judgment in making the decision to enter into this Agreement. 
19. Voluntary Agreement.  Executive (i) acknowledges that Executive has read and understands the terms of this Agreement and believes them to be reasonable, (ii) agrees that the consideration provided by the Company for this Agreement is reasonable, and (iii) is voluntarily executing this Agreement as signified by Executive’s signature hereto,.
20. Execution in Multiple Counterparts.  This Agreement may be executed in multiple counterparts, whether or not all signatories appear on these counterparts, and each counterpart shall be deemed an original for all purposes.
[Signature Page Follows]

CONFIDENTIALITY AND NON-COMPETITION AGREEMENT Page 11

The signatures below indicate that the Parties have read, understand and will comply with this Agreement.
						
		
	EXECUTIVE:	Signature:   
		Printed Name:  Enrique M. Vasquez
		Date:   
		
	THE COMPANY:	Blucora, Inc.:
		Signature:   
		Name:   
		Title:   
		Date:
		

CONFIDENTIALITY AND NON-COMPETITION AGREEMENT Page 12

EXHIBIT A-1 
LIST OF PRIOR INVENTIONS
									
	Title	Date	Identifying Number or Brief Description
			
			
			
			
			
			
			

____ No Inventions
____ Additional Sheets Attached
			
	
	   
 Signature of Employee
	
	   
 Print Name of Employee
	
	   
 Date

CONFIDENTIALITY AND NON-COMPETITION AGREEMENT Page 13

EXHIBIT A-2 
OUTSIDE ACTIVITIES

CONFIDENTIALITY AND NON-COMPETITION AGREEMENT Page 14

EXHIBIT B 
 
GENERAL RELEASE OF ALL CLAIMS
This General Release and Waiver of Claims (this “Release”) is executed by Enrique M. Vasquez (“Executive”) and Blucora, Inc. (the “Company”) as of the date set forth below, and will become effective as of the “Effective Date” as defined below. This Release is in consideration of severance benefits to be paid to Executive by the Company pursuant to the Employment Agreement between Executive and the Company dated as of _____, 2018 (the “Employment Agreement”). Execution of this Release without revocation by Executive will satisfy the requirement, set forth in Section 6(g) of the Employment Agreement, that Executive execute a general release and waiver of claims in order to receive severance benefits pursuant to the Employment Agreement.
1. Termination of Employment
Executive acknowledges that his employment with the Company and any of its subsidiaries (collectively, the “Company Group”) and any and all appointments he held with any member of the Company Group, whether as officer, director, employee, consultant, agent or otherwise, terminated as of _______________________ (the “Termination Date”).  Effective as of the Termination Date, Executive has not had or exercised or purported to have or exercise any authority to act on behalf of the Company or any other member of the Company Group, nor will Executive have or exercise or purport to have or exercise such authority in the future.
2. Consideration
The Company shall pay Executive the severance benefits pursuant to the Employment Agreement.  The Parties agree that but for signing this Release, Executive would not be entitled to the severance benefits set forth in the Employment Agreement. The severance benefits are adequate to make this Release final and binding, and are in addition to payments and benefits to which Executive would otherwise be entitled to as an employee or former employee of the Company.
3. Waiver and Release
(a) Executive, for and on behalf of himself and his heirs and assigns, hereby waives and releases any common law, statutory or other complaints, claims, charges or causes of action arising out of or relating to Executive’s employment or termination of employment with, or Executive’s serving in any capacity in respect of any member of the Company Group (collectively, “Claims”). The Claims waived and released by this Release include any and all Claims, whether known or unknown, whether in law or in equity, which Executive may now have or ever had against any member of the Company Group or any shareholder, employee, officer, director, agent, attorney, representative, trustee, administrator or fiduciary of any member of the Company Group (collectively, the “Company Releasees”) up to and including the date of Executive’s execution of this Agreement. The Claims waived and released by this Release include, without limitation, any and all Claims arising out of Executive’s employment 
1

with the Company Group under, by way of example and not limitation, the Age Discrimination in Employment Act of 1967 (“ADEA”, a law which prohibits discrimination on the basis of age against persons age 40 and older), the National Labor Relations Act, the Civil Rights Act of 1991, the Americans With Disabilities Act of 1990, Title VII of the Civil Rights Act of 1964, the Employee Retirement Income Security Act of 1974, the Family Medical Leave Act, the Securities Act of 1933, the Securities Exchange Act of 1934, and the Texas Labor Code Chapter 21, all as amended, and all other federal, state and local statutes, ordinances, regulations and the common law, and any and all Claims arising out of any express or implied contract, except as described in Paragraphs 2(b) and 2(c) below.
(b) The waiver and release set forth in this Section 3 is intended to be construed as broadly and comprehensively as applicable law permits. The waiver and release shall not be construed as waiving or releasing any claim or right that as a matter of law cannot be waived or released, including Executive’s right to file a charge with the Equal Employment Opportunity Commission or other government agency.
(c) Notwithstanding anything else in this Release, Executive does not waive or release claims with respect to:
(i) Executive’s entitlement, if any, to severance benefits pursuant to the Employment Agreement;
(ii) vested benefits or payments specifically to be provided to the Executive pursuant to the Employment Agreement or any Company employee benefit plans or policies;
(iii) indemnification pursuant to any applicable provision of the Company’s Bylaws or Certificate of Incorporation, as amended, pursuant to any written indemnification agreement between the Executive and the Company, or pursuant to applicable law;
(iv) any claims which the Executive may have solely by virtue of the Executive’s status as a shareholder of the Company; or
(v) unemployment compensation to which Executive may be entitled under applicable law.
(d) Executive represents and warrants that he is the sole owner of the actual or alleged Claims that are released hereby, that the same have not been assigned, transferred, or disposed of in fact, by operation of law, or in any manner, and that he has the full right and power to grant, execute and deliver the releases, undertakings, and agreements contained herein.
(e) Subject to Section 4, Executive represents that Executive has not filed any complaints, charges or lawsuits against the Company with any governmental agency or any court based on Claims that are released and waived by this Release.

2

4. No Interference
Nothing in this Agreement is intended to interfere with Executive’s right to report possible violations of federal, state or local law or regulation to any governmental or law enforcement agency or entity, or to make other disclosures that are protected under the whistleblower provisions of federal, state or local law or regulation.  Executive further acknowledges that nothing in this Agreement is intended to interfere with Executive’s right to file a claim or charge with, or testify, assist, or participate in an investigation, hearing, or proceeding conducted by, the Equal Employment Opportunity Commission (the “EEOC”), any state human rights commission, or any other government agency or entity.  However, by executing this Agreement, Executive hereby waives the right to recover any damages or benefits in any proceeding Executive may bring before the EEOC, any state human rights commission, or any other government agency or entity or in any proceeding brought by the EEOC, any state human rights commission, or any other government agency or entity on Executive’s behalf with respect to any claim released in this Agreement except that Executive may receive bounty money awarded by the U.S. Securities and Exchange Commission pursuant to Section 21F of the Securities Exchange Act of 1934 or any similar provision.  
5. No Admission of Wrongdoing
This Release shall not be construed as an admission by either party of any wrongful or unlawful act or breach of contract.
6. Legal Disclosure  
Subject to Section 4, by signing this Agreement, Executive warrants and represents that Executive has reported to Human Resources or Legal all pending and/or threatened legal proceedings of any kind involving or relating to the Company that Executive became aware of during Executive’s tenure with the Company. Executive further warrants and represents that Executive has reported to Human Resources or Legal any alleged violations of law (including alleged securities violations) by the Company that Executive became aware of during Executive’s tenure with the Company. 
7. Binding Agreement; Successors and Assigns
This Release binds Executive’s heirs, administrators, representatives, executors, successors, and assigns, and will inure to the benefit of the respective heirs, administrators, representatives, executors, successors, and assigns of any person or entity as to whom the waiver and release set forth in Section 3 applies.
8. Other Agreements
This Release does not supersede or modify in any way Executive’s continuing obligations pursuant to the Employment Agreement or the Confidentiality and Non-Competition Agreement (Exhibit A thereto) or the dispute resolution provisions of the Employment Agreement.

3

9. Knowing and Voluntary Agreement; Consideration and Revocation Periods
(a) Executive acknowledges that Executive has been given twenty-one (21) calendar days from the date of receipt of this Release to consider all of the provisions of this Release and that if Executive signs this Release before the 21-day period has ended he knowingly and voluntarily waives some or all of such 21-day period.
(b) Executive represents that (i) Executive has read this Release carefully, (ii) Executive has hereby been advised by the Company to consult an attorney of his choice and has either done so or voluntarily chosen not to do so, (iii) Executive fully understands that by signing below he is giving up certain rights which he might otherwise have to sue or assert a claim against any of the Company Releasees, and (iv) Executive has not been forced or pressured in any manner whatsoever to sign this Release, and agrees to all of its terms voluntarily.
(c) Executive shall have seven (7) calendar days from the date of his execution of this Release (the “Revocation Period”) in which Executive may revoke this Release. Such revocation must be in writing and delivered, prior to the expiration of the Revocation Period, to the attention of the Company’s Chief Legal Officer at the Company’s then-current headquarters address. If Executive revokes this Release during the Revocation Period, then the Release shall be null and void and without effect.
10. Disclaimer of Reliance  
Except for the specific representations expressly made by the Company in the Employment Agreement, Executive specifically disclaims that Executive is relying upon or has relied upon any communications, promises, statements, inducements, or representation(s) that may have been made, oral or written, regarding the subject matter of this Release.  Executive represents that Executive relied solely and only on Executive’s own judgment in making the decision to enter into this Release.
11. Execution in Multiple Counterparts  
This Release may be executed by the parties in multiple counterparts, whether or not all signatories appear on these counterparts (including via electronic signatures and exchange of PDF documents via email), each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
12. Effective Date
The Effective Date of this Release will be day after the Revocation Period expires without revocation by Executive.

[Signature Page Follows]

4

EXECUTIVE HAS ELECTED FREELY AND VOLUNTARILY TO EXECUTE THIS RELEASE, TO FULFILL THE PROMISES SET FORTH IN THE EMPLOYMENT AGREEMENT, AND TO RECEIVE THEREBY THE PAYMENT AND OTHER CONSIDERATION DESCRIBED IN THE EMPLOYMENT AGREEMENT. EXECUTIVE UNDERSTANDS THAT, BY SIGNING THIS RELEASE, EXECUTIVE IS AGREEING TO WAIVE AND SETTLE THE RELEASED CLAIMS HEREIN THAT EXECUTIVE HAS OR MIGHT HAVE AGAINST THE COMPANY INCLUDING CLAIMS UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT. EXECUTIVE’S SIGNATURE BELOW MEANS THAT EXECUTIVE HAS READ THE RELEASE AND UNDERSTANDS AND AGREES THAT EXECUTIVE IS RELEASING ALL CLAIMS AND AGREES AND CONSENTS TO THE TERMS AND CONDITIONS OF THIS EMPLOYMENT AGREEMENT AND THIS RELEASE.

						
	EXECUTIVE:	Signature:   
		Printed Name:  Enrique M. Vasquez
		Date:   
		
	THE COMPANY:	Blucora, Inc.:
		Signature:   
		Name:   
		Title:   
		Date:
		

5Exhibit 10.1

  

  

  

  
    Pursuant to 17 CFR 229.601, certain identified information marked “[***]” has been excluded from this exhibit because it is both (i) not material and (ii) would be competitively harmful if publicly
      disclosed.

  

  

  

  
    Amended and Restated Lease Agreement

    

    

    9 Cedar Brook, Cranbury NJ 05812

  

  

  

  Between Cedar Brook 12 Corporate Center, L.P., Landlord

    

    and

    

    Rocket Pharmaceuticals, Inc., Tenant

    

    June 26, 2019

   

  

  
    
      
        

    

    
    
      
        Pursuant to 17 CFR 229.601, certain identified information marked “[***]” has been excluded from this exhibit because it is both (i) not material and (ii) would be competitively harmful if
          publicly disclosed.

      

       

      

    

    Contents

     

    	
            1. LEASED PREMISES

          	
            1

          
	
            2. TERM OF LEASE

          	
            2

          
	
            3. CONSTRUCTION OF THE TENANT IMPROVEMENTS IN INITIAL PREMISES

          	
            2

          
	
            4. RENT

          	12
	
            5. PARKING AND USE OF EXTERIOR AREA

          	13
	
            6. USE

          	14
	
            7. REPAIRS AND MAINTENANCE

          	15
	
            8. COMMON AREA EXPENSES, TAXES AND INSURANCE

          	16
	
            9. SIGNS

          	19
	
            10. ASSIGNMENT AND SUBLETTING

          	20
	
            11. FIRE AND CASUALTY

          	22
	
            14. DEFAULT BY TENANT

          	29
	
            15. DAMAGES

          	31
	
            16. NOTICES

          	34
	
            17. NON-WAIVER BY LANDLORD

          	35
	
            18. ALTERATIONS

          	35
	
            19. NON-LIABILITY OF LANDLORD

          	36
	
            20. RESERVATION OF EASEMENT

          	36
	
            21. STATEMENT OF ACCEPTANCE

          	37
	
            22. FORCE MAJEURE

          	37
	
            23. STATEMENT BY TENANT

          	37
	
            24. CONDEMNATION

          	38
	
            25. LANDLORD’S RIGHTS

          	38
	
            26. QUIET ENJOYMENT

          	39
	
            27. SURRENDER OF PREMISES; HOLDOVER

          	39
	
            28. INDEMNITY

          	40
	
            29. BIND AND CONSTRUE CLAUSE

          	40
	
            30. INCLUSIONS

          	40
	
            31. DEFINITION OF TERM “LANDLORD”

          	41
	
            32. COVENANTS OF FURTHER ASSURANCES

          	
            41

          

    

    

    
      i

      
        

    

    
      Pursuant to 17 CFR 229.601, certain identified information marked “[***]” has been excluded from this exhibit because it is both (i) not material and (ii) would be competitively harmful if publicly
        disclosed.

    

     

    

    	
            33. COVENANT AGAINST LIENS; WAIVER OF LANDLORD LIEN

          	41
	
            34. SUBORDINATION

          	42
	
            35. EXCULPATION OF LANDLORD

          	42
	
            36. NET RENT

          	43
	
            37. SECURITY

          	43
	
            38. BROKERAGE

          	44
	
            39. LATE CHARGES

          	44
	
            40. PRESS RELEASES

          	44
	
            41. WAIVER OF JURY TRIAL

          	45
	
            42. LAWS OF NEW JERSEY

          	45
	
            43. RENEWAL

          	45
	
            44. TERMINATION OF EXISTING LEASE.

          	45
	
            45. TENANT REPRESENTATION

          	45
	
            46.  LANDLORD INDEMNIFICATION.

          	46

    

    

    
      ii

      
        

    

     

    
      Pursuant to 17 CFR 229.601, certain identified information marked “[***]” has been excluded from this exhibit because it is both (i) not material and (ii) would be competitively
        harmful if publicly disclosed.

    

     

    

    This AMENDED AND RESTATED LEASE, made as of June 26, 2019 (“Effective Date”), between Cedar Brook 12 Corporate Center, L.P., 4A Cedar Brook Drive., Cranbury, New Jersey 08512 (“Landlord”), and Rocket
      Pharmaceuticals, Inc., 350 Fifth Avenue, Suite 7530, New York, NY 10118  (“Tenant”).

    

    

    RECITALS:

    

    

    WHEREAS, Landlord and Tenant have entered into that certain Lease (the “Original Lease”) dated as of August 14, 2018 whereby Landlord leased to Tenant the Leased Premises, as described in Section 1.1. below, located in
      the building located at 9 Cedar Brook Drive, Cranbury, New Jersey, 08512 (“Building”) [***] as shown on the site plan attached hereto as Exhibit A (the “Property), and constituting a portion of the office/industrial park known as Cedar Brook
      Corporate Center (“Office Park”); and

     

    

    WHEREAS, the parties hereto wish to amend and restate the Original Lease to mutually define their rights, duties and obligations as set forth herein.

     

    

    NOW THEREFORE, in consideration of the promises set forth herein, Landlord leases unto Tenant and Tenant leases from Landlord the leased premises described in Paragraph 1, and Landlord and Tenant do hereby mutually
      covenant and agree as follows:

     

    1.           LEASED PREMISES

    1.1         The leased premises shall consist of the entire 82,520 rentable square feet of [***] space in the Building, and 21,200 rentable square feet of basement space (collectively referred to herein as the “Leased
      Premises”) as shown on Exhibit B attached hereto which identifies that portion of the Leased Premises referred to herein as the “Initial Premises” and that portion of the Leased Premises referred to herein as the “Additional Premises”.  The
      Leased Premises is measured from outside of exterior walls to outside of exterior walls or centerline of demising walls, if any, and shall include all fixtures and equipment that currently exist or are to be installed in and attached to the Leased
      Premises by the Landlord or the Tenant for the use of the Tenant.  Tenant shall also have the exclusive use to all parking spaces on the Property, as shown on the attached Exhibit A, exclusive use to all areas of the Property on which
      equipment servicing the Leased Premises are currently or hereafter located, and the nonexclusive use of all of the other common areas within the Property.    Tenant shall also have the right to use all common areas (“Common Areas”) defined as those
      areas and facilities of the Office Park which are available for the use of tenants within the buildings in the Office Park, including parking areas, pedestrian walkways, sidewalks and landscaped areas within the Office Park. Tenant may use all Common
      Areas only for their intended purposes.  Landlord shall have exclusive control of all Common Areas at all times and may make such changes to the Common Areas as Landlord deems appropriate, provided that Landlord shall provide advance notice to the
      Tenant of any planned changes and shall use commercially reasonable efforts to minimize disruption of Tenant’s access to and use and occupancy of the Leased Premises and any material changes to the Property shall not be made without Tenant’s prior,
      written consent.

     

    

    
      
        

    

    
    

    2.           TERM OF LEASE

    2.1         The term of the Lease (“Term”) shall be fifteen (15) years, to commence on the Commencement Date as hereinafter defined, and to end on the day before the fifteenth (15th) anniversary of the Commencement Date (“Expiration Date”).  The term “Commencement Date” or “Lease Commencement Date” shall mean September 1, 2019.

     

    3.           CONSTRUCTION OF THE TENANT IMPROVEMENTS IN INITIAL PREMISES

    3.1      (a)      The Landlord shall provide all necessary labor and materials and perform any and all of the work required for construction of the Tenant’s [***] facilities, including machinery, fixtures and equipment
      to be constructed and other improvements to be installed by Landlord in the Initial Premises in order to prepare the Initial Premises for Tenant’s occupancy, including wiring for Tenant’s data and telecommunications systems within the walls of the
      portion of the Leased Premises used for office and laboratory space, and all other improvements to be installed above the ceiling, within the walls and under the floor (the “Tenant Improvements”), all as shown on the construction drawings and
      specifications to be prepared by an architect and engineer selected by Tenant and approved by Landlord, which approval shall not be unreasonably withheld (“Plans”), subject to the terms and conditions of this Section 3.   As of the Effective Date,
      Tenant’s architect/engineer has delivered complete Plans for the Initial Premises to Landlord.   Tenant anticipates delivering plans for the Additional Premises (the “Additional Premises Plans”) by October 1, 2019.  If Substantial Completion of
      Tenant Improvements in the Initial Premises does not occur by the two hundred eleventh (211th) day following the parties’ approval of the Construction Budget for the Initial Premises (following the parties’ mutually agreed value engineering
      (including any revisions to the Plans arising therefrom or relating thereto) and as determined in accordance with Section 3.2 and as evidenced by the parties signature thereon) (the “Initial Outside Completion Date”) because of the action or inaction
      of Landlord or its employees, contractors and/or agents, then, following the Initial Outside Completion Date, Tenant shall be entitled to an abatement of rent equivalent to two times the daily Base Rent (determined by dividing the monthly Base Rent
      payable as of the first day of the Term by thirty (30)) for each day after the Initial Outside Completion Date, that Substantial Completion of the Tenant Improvements in the Initial Premises has not occurred. Landlord shall not be responsible for any
      delay in Substantial Completion of the Tenant Improvements in the Initial Premises due to the action or inaction of Tenant or its employees, contractors and/or agents, or for any delay arising as the result of any Change Orders or other modifications
      to the Plans requested by Tenant or required to comply with applicable law, rule or regulation. Tenant’s designated representative for all work pertaining to the Tenant Improvements shall be [***] (“Representative”).  Landlord shall supervise and
      direct the construction of Tenant Improvements using Landlord’s best skill and attention, and Landlord shall be solely responsible for all construction means, methods, techniques, sequences, and procedures and for coordinating all portions of the
      work on the Tenant Improvements in accordance with the Plans.   Landlord warrants to the Tenant that all materials and equipment incorporated into the existing Leased Premises will be new unless otherwise specified or approved by Tenant, and that all
      work on the Tenant Improvements will be of good quality, free from known faults and defects (provided that Landlord shall remain responsible to remedy any construction defects which are discovered after the Commencement Date as provided in Section
      7.1), and in substantial conformity with the Plans, provided any change in the construction from that shown on the Plans which impacts Tenant’s business operations or any substitution of materials from that shown on the Plans shall only be made with
      Tenant’s prior written approval.  Notwithstanding the foregoing, the Tenant Improvements to be constructed by Landlord are set forth on Schedule 3.1(b) attached hereto under the heading “Provided by Cedar Brook.” In addition, Schedule 3.1(c) attached
      hereto shows the demarcation between the scope of work of Landlord and Tenant’s contractor, AES Clean Technology, Inc. (“AES”), in the Leased Premises.

     

    

    
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    (b)      Tenant shall be responsible for all items listed on the attached Schedule 3.1(b) under the heading “Provided by Rocket Pharma” and as shown on Schedule 3.1(c) attached hereto, which work shall
      not be included in “Tenant Improvements” (“Tenant Work”).  With respect to Tenant Work, Tenant shall (i) coordinate the performance of Tenant Work so as to minimize interference with work being performed by Landlord; (ii) [***], and (iii) provide
      evidence that Tenant’s contractors have appropriate insurance.  Schedule 3.1(a) identifies those portions of the Tenant Improvements which must be completed by Landlord (the “Initial Landlord Work”) prior to AES commencing its portion of the Tenant
      Work in the single-story area of the Initial Premises. Landlord will provide Tenant with written notice of the completion of the Initial Landlord Work. Subject to the provisions of Section 18 (other than Landlord’s right to offer to perform the
      Alterations which Landlord hereby waives), Tenant may, at any point during the Term, engage AES (or a contractor having similar experience and reputation as AES (and being referred to herein as “AES”)) to construct cleanroom and/or cleanroom support
      spaces within the area designated in the Leased Premises as the cleanroom space as shown on Schedule 3.1(c),  at its option and expense at any point during the Term. Any construction or other work to be
      conducted by AES in the Leased Premises is referred to herein as the “AES Work.”

     

    

    (c)      Tenant shall have the right to place mechanical and other equipment on the roof of the Building, provided the equipment is located within the roof screens.  Tenant shall also have the right to request that
      Landlord install an emergency generator at Tenant’s cost at a location mutually agreeable to the parties, which will be located on the Property, but may be located outside of the Leased Premises.  Landlord will assist Tenant, if required, in
      obtaining any governmental approvals necessary for the installation of the generator.

      

    

    (d)      Tenant shall, at its expense, cause AES to (i) make commercially reasonable efforts to coordinate the performance of the AES Work with, and not unreasonably and materially interfere, delay, hinder or restrict,
      Landlord’s construction of the Tenant Improvements, (ii) abide by and comply with all safety and construction rules, regulations, ordinances, codes, guidelines and procedures required under applicable law, rule, regulation or common construction
      industry practice, (iii) obtain, maintain and provide evidence of insurance in accordance with the insurance certificate attached hereto as Exhibit 3.1(d) attached hereto, (iv) obtain, maintain and provide evidence of its receipt of all governmental,
      local and municipal approvals, licenses, permits and authorizations necessary for the AES Work prior to the commencement thereof, (v) undertake all commercially reasonable efforts to only use contractors, employees and other personnel that will work
      in harmony with [***], (vi) not directly use or contract with any contractors generally used or designated by Landlord for any portion of the AES Work, other than pursuant to subcontracts with Landlord providing for Landlord pricing, and (vii) not
      cause or permit the filing of any liens, claims or charges upon the Building or Property in respect of its portion of the Tenant’s Work and to immediately remove and discharge the same within thirty (30) days of notice thereof. Tenant shall be
      directly responsible to Landlord for any direct damages and shall indemnify and hold Landlord harmless for any loss, cost, expense, damage or claim arising solely from any breach by AES of any of the foregoing up to a maximum of One Million Dollars
      ($1,000,000.00) (except that such limitation shall not apply to any breach of clauses (ii), (iii), (iv) or (vii)). Notwithstanding anything in this Amendment or the Lease, under no circumstances shall Tenant be liable for any punitive or
      consequential damages.

     

    

    
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    3.2      (a)      Landlord shall complete the construction of Tenant Improvements in the Initial Premises (and in the Additional Premises if Landlord performs the Tenant Improvements in the Additional Premises) in a good
      and workmanlike manner and in substantial accordance with the Plans, provided Landlord shall not make any modifications to the construction from that shown on the Plans which would impact Tenant’s operations without Tenant’s prior written consent. 
      The Plans shall be in sufficient detail to permit Landlord to apply for a building permit for the Tenant Improvements (which Landlord shall promptly do), and to prepare a construction budget for the construction of the Tenant Improvements (“Initial
      Construction Budget(s)”).   The Initial Construction Budget for the Initial Premises and/or Additional Premises, as applicable, shall set forth the lump sum amount payable by Tenant to Landlord for the construction of the Tenant Improvements (“Hard
      Construction Cost”).  The Initial Construction Budgets for Tenant Improvements shall also include Landlord’s standard mark-up of [***] of the Hard Construction Costs for general conditions, [***] of the Hard Construction Costs for overhead, and [***]
      of the Hard Construction Costs for profit.  The only exclusion from the Initial Construction Budgets shall be the actual fees charged by the Township of Cranbury for construction permits and certificates of occupancy, which will not be determined by
      the municipality until after the Landlord applies for the construction permits and certificates of occupancy and shall be paid by Tenant as set forth hereafter.

     

    

    Concurrent with the execution of this Lease, Landlord will provide the Initial Construction Budget to Tenant for the Tenant Improvements within the Initial Premises.  The parties shall cooperate to value engineer the
      Tenant Improvements (which value engineering shall be approved by Tenant’s engineers, architects and other professionals) and finalize the Initial Construction Budget in a manner and in an amount that is acceptable to the parties and, in any event,
      within 30 days of the Effective Date . Upon the approval of the Initial Construction Budget for the Initial Premises, the Plans and the budget will be signed by both parties and the budget shall thereafter be deemed the “Construction Budget.”

     

    

    
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    Within thirty (30) days of receipt of Plans for the Additional Premises (“Additional Premises Plans”), Landlord shall prepare and submit the Initial Construction Budget for the Additional Premises to Tenant for its
      approval.   Tenant, if so desires, and within this same thirty day period, may obtain additional bids for the construction of Tenant Improvements in the Additional Premises from contractors, construction estimators and/or construction managers
      experienced [***]the New York/New Jersey region.  Bids or estimates from all parties shall be opened no later than the end of this fifteen (15) day period, at the same time in the presence of both the Tenant and Landlord, at Landlord’s office and at
      a time mutually acceptable to the parties.  All bids shall be revised, if necessary, to ensure that the bids include all items necessary to complete construction of Tenant Improvements according to the Additional Premises Plans.  If the Landlord’s
      Initial Construction Budget, including all markups for overhead, profit and general conditions, is not the lowest estimate, Landlord shall be provided with sufficient backup to determine whether the Tenant’s bid includes all items contained in
      Landlord’s Initial Construction Budget and Landlord shall have an opportunity to adjust its bid.    In addition, if the bid submitted on behalf of Tenant contains items that are not included in Landlord’s Initial Construction Budget, Landlord shall
      revise its proposed budget to include such items at Tenant’s request.  If, after finalizing the bids, the Landlord’s Initial Construction Budget, compared to Tenant’s bid is the low bid, Tenant shall accept Landlord’s Initial Construction Budget
      after which Landlord shall immediately commence construction of Tenant Improvements in the Additional Premises.  If, after review and any revisions to the bids, the Landlord’s Initial Construction Budget is still higher than other bid submitted, then
      Landlord shall either cede the construction to the Tenant’s general contractor or agree to perform the work at the lowest bid.  Once finalized and approved by the parties, the budget shall be deemed the “Additional Premises Construction Budget”. 
      Landlord shall not be obligated to order any equipment or commence work until Tenant has approved the Additional Premises Construction Budget.  A complete set of the agreed upon Additional Premises Plans, and the agreed upon Additional Premises
      Construction Budget, shall be initialed by, and distributed to Landlord and Tenant.

    
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    (b)      Neither the Construction Budgets nor the Plans shall be changed or altered in any way except by change order approved in writing by Landlord and Tenant, which change order shall include any increased price as a
      result of the change in the Plans (“Change Order”).   All Change Orders shall be valid and binding upon Landlord and Tenant only if authorized by written Change Order signed prior to commencement of the work on the portion of Tenant Improvements
      reflected in the Change Order.  In the event a Change Order is submitted to Tenant and is not approved by Tenant within sufficient time for Landlord to implement the change to Tenant’s Improvements, provided Tenant shall be given a minimum of five
      (5) business days to approve the Change Order, work on the Tenant Improvements shall continue as if the Change Order had never been requested unless if despite the fact that the Change Order will cause a delay, Tenant authorizes the Change Order,
      then Landlord will make the change provided Tenant agrees that any delay in reviewing and approving the Change Order shall not delay the Commencement Date and Tenant’s obligation to pay Rent.  The cost or credit to the Tenant due to any Change Order
      shall be determined per the terms of such Change Order. In the event the Change Order increases the cost set forth in the Construction Budget, then the amount shall be added to the Construction Budget and paid in accordance with payment by Tenant of
      the cost of Tenant’s Improvements, as outlined below.  The Landlord shall only have the right to substitute materials and equipment required by the Plans, provided said substitutions conform with applicable building codes, meet specifications and are
      the subject of a Change Order which is approved by Tenant.  Each and every Change Order shall state whether the change will entail a delay in the date of Substantial Completion.  Any Change Order requested by Tenant to the extent that it is the sole
      cause of a delay in the date of Substantial Completion shall delay the Outside Completion Date for the Initial Premises or Additional Premises, as applicable, on a day for day basis. However, any Change Order requested by Landlord, to the extent that
      it is the sole cause of a delay of the date of Substantial Completion, shall not delay the applicable Outside Completion Date.

     

    

    3.3      (a)      The Landlord may secure and advance payment for the construction permits necessary for the proper execution and completion of the Tenant Improvements.  Tenant shall pay such amounts to Landlord not
      later than 30 days after receipt of an invoice therefor.  Landlord shall obtain a temporary or permanent certificate of occupancy or certificate of acceptance (collectively referred to as the “CO”) after the Tenant Improvements in the Initial
      Premises and Additional Premises, as applicable,  have been Substantially Completed, as hereafter defined, which permits Tenant to occupy and operate its business within the Leased Premises.  If a temporary CO is issued, Landlord shall perform any
      work necessary to obtain a permanent CO as soon as practicable, but no later than the date that any temporary CO would expire.  Landlord shall not, however, be responsible for securing any environmental or operating permits or certifications that are
      required in order for Tenant to conduct its business.  However, to the extent necessary and requested by Tenant, Landlord shall assist Tenant in securing any environmental or operating permits or certifications that are required in order for Tenant
      to actually conduct its business at no additional cost to the Landlord.

     

    

    
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    (b)      After Substantial Completion of Tenant Improvements for the Initial Premises or Additional Premises, as applicable Tenant shall obtain “as built” Plans at its cost and shall provide Landlord with one
      reproducible set of the Plans.  Landlord will also be provided with a current pdf containing the Plans at no cost to Landlord.  Tenant hereby consents to Landlord’s use of Tenant’s Plans, solely in connection with the Leased Premises and subject to
      any rights retained by the Architect and Tenant. Tenant also agrees to make commercially reasonable efforts to contract with the Architect to provide Landlord with a CAD disk or disks containing the Plans, at no cost to the Landlord, upon Landlord’s
      written request upon Substantial Completion of Tenant’s and Landlord’s Improvements and receipt of the CO, and shall further make commercially reasonable effort to obtain consent from the Architect for Landlord’s use of the Plans, provided there is
      no additional cost to Tenant.  Architect shall have no obligation to provide further services to Landlord unless and until an agreement mutually acceptable to Architect and Landlord with respect to compensation for such future services is executed by
      the parties, which Agreement shall not include any unpaid work performed on behalf of Tenant.

     

    

    3.4      (a)      Landlord shall provide Tenant with the following improvements to the Leased Premises and Common Areas, at Landlord’s sole cost and expense no later than Substantial Completion of Tenant Improvements in
      the Initial Premises (“Landlord’s Work”):

     

    

    
      
        	

              	I.	
                Finish parking lot with stripes, stenciled visitor & handicap parking with lighting as approved by local governing authorities and repair any defects in parking lot so that it is in new condition.;

              

         

        

      

    

    
      
        	

              	II.	
                Provide 4000 amp PSEG transformer capacity to Building;

              

         

        

      

    

    
      
        	

              	III.	
                Install Building main switchgear;

              

         

        

      

    

    
      
        	

              	IV.	
                Install fire service to Building with sufficient flow and pressure to support the facility design of ordinary hazard, group 2 occupancy;

              

      

    

     

    
      
        	

              	V.	
                Underground sewer main to the point of connection with the Building;

              

         

        

      

    

    
      
        	

              	VI.	
                Water service to Building to the point of connection with the Building;

              

         

        

        
          	

                	VII.	
                  Natural gas capacity to the point of connection with the Building;

                

           

        

      

    

    
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              	VIII.	
                Exterior Building doors and windows in good working order and all portions of the Building, including windows, doors, roof, basement, and any other building penetration or system not associated with Tenant Improvements to be free of
                  leaks;

              

         

        

      

    

    
      
        	

              	IX.	
                Install fire sprinkler flow monitoring valves;

              

         

        

      

    

    
      
        	

              	X.	
                Five inch concrete slab in single story area with fiber reinforcement.  (Any additional work required to the slab beyond this scope shall be at an added cost to Tenant);

              

         

        

      

    

    
      
        	

              	XI.	
                Installation of generator pad at a location designated by Tenant based upon Building layout, and reasonably acceptable to Landlord;

              

         

        

      

    

    
      
        	

              	XII.	
                Installation of pad in parking lot for trash and recycling staging/pickup and relevant access thereto in the location approved by the Township of Cranbury and as shown on the site plan attached as Exhibit A;

              

         

        

      

    

    
      
        	

              	XIII.	
                Installation of an elevator in the two-story section of the Building, which is accessed in the lobby on the first floor and which also accesses the basement;

              

         

        

      

    

    
      
        	

              	XIV.	
                It is the understanding of the parties that any improvements required to be constructed outside of the Leased Premises except if serving Tenant’s specific business operations rather than the general operation within the Building, shall
                  be constructed by Landlord at its expense, regardless of whether specifically listed herein.  The cost of any additional work in the Building required beyond this scope shall be the responsibility of the Tenant.

              

         

        

      

    

    
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    The entire cost of the construction of Tenant Improvements as contained in the Construction Budgets shall be Tenant’s obligation (“Tenant’s Cost Share”).  Not later than thirty (30) days after approval of the Construction Budget for any Tenant
      Improvements to be performed by Landlord, Tenant shall promptly pay to Landlord a sum equal to 20% of Tenant’s Cost Share.  Thereafter, Tenant will be invoiced on a monthly basis for the work performed during the previous thirty-day period, which
      invoices shall be paid by Tenant no later than thirty (30) days of receipt. Upon Tenant’s request, Landlord shall provide evidence to Tenant that all contractors and/or vendors have been paid for work performed to date and funded by Tenant.  Upon
      Substantial Completion of Tenant Improvements and Landlord’s Work, Tenant shall pay to Landlord a sum equal to the remaining balance of Tenant’s Cost Share no later than thirty (30) days after Tenant’s receipt of notice of the final amount of
      Tenant’s Cost Share.  In the event Tenant fails to pay to Landlord, upon approval of the Construction Budget, a sum equal to 20% of Tenant’s Cost Share, Landlord shall not be obligated to commence work on the Tenant Improvements for the Leased
      Premises.  In the event that Tenant fails to make subsequent payments in accordance with the terms of this Lease, Landlord shall not be obligated to continue the work. Such failure to pay shall constitute a default under this Lease, but shall not
      delay the Commencement Date of this Lease for any period the Tenant’s Share remains unpaid.  In the event that Tenant fails to pay to Landlord, upon Substantial Completion of the Tenant Improvements and Landlord’s Work, a sum equal to the remaining
      Tenant’s Cost Share, such failure shall constitute a default under this Lease; and Tenant shall not be permitted to occupy the Leased Premises; and Tenant shall continue to make payment of all Rent; and Landlord shall be entitled to all rights and
      remedies available hereunder, at law or in equity, which rights shall be cumulative.  All sums so owing to Landlord shall constitute Additional Rent and shall be subject to the imposition of late charges as provided in this Lease.  All payments of
      Tenant’s Cost Share shall be made no later than thirty (30) days after receipt of notice from Landlord of the amount due.

     

    

    (b)     Except for extensions of time for delays, extensions of the Initial Outside Completion Date and Additional Premises Outside Completion Date(s) and payment of Rent and rent abatements as provided herein, no
      payment or allowance of any kind shall be claimed by Tenant, or made by Landlord as compensation for damages on account of any delay in the Substantial Completion of the Tenant Improvements and Landlord’s Work, unless the delay is not a result of
      Tenant’s delay and is a delay instead caused by Landlord, its contractors, employees and/or agents and is avoidable (not caused by force majeure).

     

    

    3.5     During construction of Tenant Improvements, a representative of Tenant and Landlord shall inspect the site and progress of the work on a schedule to be mutually agreed upon by the parties.

     

    

    
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    3.6      The Tenant Improvements shall be commenced after approval of the Plans and applicable Construction Budget and receipt by Landlord from the governmental entities having jurisdiction therefor, all permits
      necessary to commence construction.  Subject to the terms hereof, Substantial Completion of the Tenant Improvements in the Initial Premises shall be completed no later than the Initial Outside Completion Date.  As used herein the term “Substantial
      Completion” shall mean that the Tenant Improvements and Landlord Work have been completed in substantial conformity with the Plans, provided any changes in construction which impact Tenant’s business operations or any substitution of materials from
      those shown on the Plans shall be approved by Tenant, and a CO has been issued permitting Tenant to use and occupy the applicable portion of the Leased Premises (the Initial Premises or Additional Premises, as applicable), even though minor details,
      adjustments or punch list items that do not materially impair Tenant’s use and enjoyment of the Leased Premises may not have been finally completed, but which work Landlord shall diligently pursue to final completion. Any delay in Landlord’s ability
      to perform Landlord Work or Tenant Improvements, which delays Landlord’s ability to achieve Substantial Completion and is caused solely by performance of Tenant Work shall not delay the Commencement Date by the duration of the delay caused by the
      performance of Tenant Work.

     

    

    Tenant shall have the right to provide a punch list of incomplete items (“Punchlist”) to Landlord within forty-five (45) days after issuance of the CO for any portion of Tenant Improvements constructed by Landlord, and Landlord shall complete all
      items on the Punchlist as soon as reasonably practicable thereafter.  Tenant shall allow Landlord and its contractors to enter the Leased Premises during normal working hours and upon reasonable advance notice after issuance of the CO to complete
      remaining minor work and Punchlist items.  Upon Tenant’s request, Landlord or its agents shall be accompanied by a representative of Tenant.  Notwithstanding anything contained herein, Landlord shall not be permitted to enter any portion(s) of the
      Leased Premises if Legal Requirements prohibit Landlord’s access to such portion of the Leased Premises due to confidentiality restrictions.  Landlord agrees that its employees, representatives or agents shall not enter any sterile areas within the
      Leased Premises without following the procedures outlined by Tenant for access to these areas.  It is agreed that for the purpose of this Lease, wherever and whenever the term Substantial Completion is used, it shall not include items of maintenance
      or service or items on the Punchlist.

     

    

    
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    3.7. CONSTRUCTION IN ADDITIONAL PREMISES

    The parties acknowledge that Tenant intends to construct improvements to the Additional Premises after the Commencement Date. Prior to commencing construction of improvements in the Additional Premises (“Additional
      Construction”), Tenant shall deliver plans and specifications to Landlord.  The provisions of Section 3.2(a) and (b) and 3.3(a) and (b) shall be applicable to construction of the Additional Premises; provided, however, Landlord reserves the right to
      decline and waive its right to perform any phase of the Additional Construction.  If Landlord constructs the Additional Premises, Landlord shall supervise and direct the construction of Tenant Improvements using Landlord’s best skill and attention,
      and Landlord shall be solely responsible for all construction means, methods, techniques, sequences, and procedures and for coordinating all portions of the work on the Tenant Improvements in accordance with the plans for the Additional Premises.  
      Landlord warrants to the Tenant that all materials and equipment incorporated by or on behalf of Landlord into the Leased Premises will be new unless otherwise specified or approved by Tenant, and that all work on the Tenant Improvements performed by
      Landlord will be of good quality, free from known faults and defects (provided that Landlord shall remain responsible to remedy any construction defects which are discovered after the Commencement Date as provided in Section 7.1), and in substantial
      conformity with the Plans, provided any change in the construction from that shown on the plans which impacts Tenant’s business operations or any substitution of materials from those shown on the Plans shall only be made with Tenant’s prior written
      approval.   Tenant shall have the right to elect to construct Tenant Improvements in the Additional Premises in phases.   If Substantial Completion of the Additional Construction performed by Landlord in any phase of the Additional Premises does not
      occur by the two hundred eleventh (211th) day following the parties’ approval of the Construction Budget for such Additional Construction in the applicable phase (following the parties mutually agreed value engineering and as determined in accordance
      with Section 3.2 and as evidenced by the parties signature thereon) (the “Additional Outside Completion Date(s)”) because of the action or inaction of Landlord or its employees, contractors and/or agents, then, following the Additional Outside
      Completion Date for such Additional Construction, Tenant shall be entitled to an abatement of rent equivalent to two times the daily Base Rent (determined by dividing the monthly Base Rent payable as of the first day of the Term by thirty (30)) for
      each day after such Additional  Outside Completion Date, that Substantial Completion of such Additional Construction in the Additional Premises has not occurred. Landlord shall not be responsible for any delay in Substantial Completion of the
      Additional Construction in the Additional Premises due to the action or inaction of Tenant or its employees, contractors and/or agents, or for any delay arising as the result of any Change Orders or other modifications to the Additional Premises
      Plans requested by Tenant or required to comply with applicable law, rule or regulation or if the Additional Construction includes kitchen equipment or other items which require substantial lead times for procurement or requires permits, licenses or
      approvals from the Board of Health.  Wherever in this Lease reference is made to “Tenant’s contractors”, it is not intended to include Landlord, if Landlord is performing the Tenant Improvements.  If Landlord is not retained to complete the
      Additional Construction, then Tenant shall comply with the following: (i) not less than 10 business days prior to commencing the Additional Construction, Tenant shall deliver to Landlord final plans, specifications and necessary permits for the
      Additional Construction, together with certificates evidencing that Tenant’s contractors and subcontractors have adequate insurance coverage naming Landlord, and any other associated or affiliated entity as their interests may appear as additional
      insureds, (ii) Tenant shall obtain Landlord’s prior written approval of any contractor or subcontractor which consent shall not be unreasonably withheld, (iii) the Additional Construction shall be constructed with new materials, in a good and
      workmanlike manner, and in compliance with all Legal Requirements and the plans and specifications delivered to, and approved by Landlord.  If Landlord is not the contractor, Tenant shall provide Landlord with as-built plans, in both CAD and PDF
      format, along with back-up disks, upon completion of the work. All Additional Construction attached to the Building shall become part of the realty immediately upon
      installation and, except for improvements which Landlord requires Tenant to remove pursuant to this Lease, shall be surrendered with the Leased Premises without payment by Landlord.

     

    

    
      11

      
        

    

    4.           RENT

    4.1      Tenant shall pay, as rent for the Leased Premises, the following:

     

    

    (a)      During the first year of the Term, an annual base rent for the Leased Premises, excluding the basement, of $13.00 per square foot, for an aggregate annual base rent of $1,072,760.00 (“Above-Ground Base Rent”),
      payable monthly in the sum of $89,396.66. In addition, during the first through the fifth year of the Term, Tenant shall pay an annual base rent of $6.00 per square foot for basement space for annual base rent of $127,200.00 (“Base Basement Rent”,
      and together with the Above-Ground Base Rent, the “Base Rent”) based upon an occupancy of 21,200 square feet, payable monthly in the sum of $10,600.

     

    

    (b)     Commencing on the first anniversary of the Lease Commencement date, and on every anniversary date of the Commencement Date thereafter, the Above-Ground Base Rent shall be increased by 3%.   Commencing on the
      sixth anniversary of the Lease Commencement Date, and on every anniversary date of the Commencement Date thereafter, Tenant shall pay Base Basement Rent, based upon an escalation from the Commencement Date at the rate of 3% per year.  For avoidance
      of doubt, annual Base Basement Rent during the sixth Lease year shall be $6.96 per square foot.   Thereafter the Base Basement Rent shall continue to escalate by 3% on each anniversary of the Commencement Date.

     

    

    
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    4.2      Tenant shall also pay the following which shall be referred to herein as “Additional Rent”:

     

    

    (a)      Common Area Expenses as hereafter defined in paragraph 8.1.

     

    

    (b)      Any other charges as provided in this Lease.

     

    

    The Base Rent and Additional Rent shall be referred to hereafter as “Rent”.

     

    

    4.3      Tenant covenants to pay the Rent in lawful money of the United States which shall be legal tender for the payment of all debts, public and private, at the time of payment.  Such Rent shall be paid to Landlord
      via wire transfer or other electronic transfer to an account provided by Landlord, or at such other place or means as Landlord may, from time to time, designate by notice to Tenant.

     

    

    4.4      The Rent shall be payable by Tenant without any set-off or deduction of any kind or nature whatsoever and without notice or demand.

     

    5.           PARKING AND USE OF EXTERIOR AREA

    The Tenant shall have the exclusive right to use all parking spaces located at the Building and designated on Exhibit A as “Tenant Parking”.  The Landlord and Tenant mutually agree that they will not block, hinder, or
      otherwise obstruct the access driveways and parking areas so as to impede the free flow of vehicular traffic within the Office Park, including to the common areas adjacent to the Building.  In connection with the use of the loading platforms, if any,
      Tenant agrees that it will not use the same so as to unreasonably interfere with the use of the access driveways and parking areas.  Tenant shall not park or store trailers or other vehicles on any portion of the access driveways in a manner that
      would impede access to the parking areas, and shall not utilize any portion of the Office Park other than as provided in this Lease, without the prior written consent of Landlord.  If at any time a café, restaurant or similar food establishment is
      open for business in the Office Park, that is of a quality and capacity to reasonably service Tenant’s employees working at the Leased Premises on a daily basis, Tenant shall not authorize any food truck or other vendor to sell food in the parking
      lot adjacent to the Leased Premises.   This provision is not intended to prohibit Tenant from providing food to its employees within the Leased Premises.  Tenant shall also have the right to utilize any portion of the Leased Premises to host private
      events related to its business, including events providing catering or other food service.

     

    

    
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    6.           USE

    The Tenant covenants and agrees to use and occupy the Leased Premises only for offices, cleanrooms, development space and laboratories for biotechnology, pharmaceutical or medical device research, production,
      manufacturing, and testing, and for customary related uses which use is expressly subject to all applicable zoning ordinances, rules and regulations of any governmental instrumentalities, boards or bureaus having jurisdiction thereof (“Zoning Laws”),
      or any other use permitted by the applicable Zoning Laws.  Tenant’s use of the Leased Premises shall not interfere with the peaceable and quiet use and enjoyment by other tenants in the Office Park. Tenant’s use must comply with all present and
      future statutes, laws, codes, regulations, ordinances, orders, rules, bylaws, administrative guidelines, requirements, directives and actions of any federal, state or local governmental or quasi-governmental authority, and other legal requirements of
      whatever kind or nature (“Legal Requirements”). Tenant and Landlord shall not permit any conduct or condition which may endanger, disturb, or otherwise interfere with any other Building occupant’s normal operations or with the management of the
      Building, provided that the management of the Building does not interfere with Tenant’s normal business operations.  Tenant and Landlord shall not commit any nuisance or excessive noise, and will dispose of all garbage and waste in compliance with
      Legal Requirements and in a manner that minimizes emissions of dirt, fumes, odors or debris.

     

    

    
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    7.           REPAIRS AND MAINTENANCE

    7.1      Tenant shall maintain, and repair the Leased Premises in a good and workmanlike manner, and shall, at the expiration of the Term, deliver the Leased Premises in good order and condition, damages by fire or
      casualty, the elements and ordinary wear and tear excepted.  Tenant covenants and agrees that it shall not cause or permit any waste, damage or disfigurement to the Leased Premises, or any overloading of the floors.  Tenant shall maintain, and make
      all repairs to the floor surface, HVAC, plumbing and electrical systems including all ballasts and fluorescent fixtures located within the Leased Premises.  Notwithstanding the foregoing, the Tenant Improvements, including the electrical and
      mechanical portions of the Tenant Improvements, if constructed by Landlord shall have a Landlord’s warranty of two (2) years from the date of Substantial Completion of the applicable Tenant Improvements, except that (a) any defect in construction of
      the Tenant Improvements discovered at any time during the Lease Term shall not be limited to the two year warranty, and (b) with respect to the operation of the HVAC system, the compressor which shall have a five-year manufacturer’s warranty.    All
      warranties shall run from Substantial Completion of that portion of the construction by Landlord of Tenant Improvements.  Landlord shall be responsible for repairs to the roof, including the roof membrane, exterior load-bearing walls, and electric
      and plumbing systems to the point where they enter the Leased Premises and for any condition affecting such systems within the Leased Premises.  Landlord shall also be responsible for maintenance, repair and replacement of all improvements
      constituting “Landlord’s Work” pursuant to Section 3.4(a) of the Lease.   Landlord shall not be required to make, and Tenant shall be responsible for, any repairs occasioned by the negligent acts or omissions of Tenant, its agents, employees,
      contractors, or subcontractors.  Tenant shall promptly report in writing to Landlord any defective condition which Landlord is required to repair, and, in the event Tenant has actual knowledge thereof, Landlord’s obligation to repair is conditioned
      upon receipt by Landlord of such written notice.  Landlord’s obligation to repair is also conditioned, at Landlord’s option, upon Tenant not then being in default under this Lease after written notice and expiration of any applicable cure period. 
      Landlord shall have no other maintenance or repair obligations whatsoever with respect to the Leased Premises except the foregoing unless caused by the gross negligence or willful act of Landlord. Except to the extent of Landlords’ obligations,
      Tenant shall keep and maintain in good order, condition and repair the Leased Premises and every part thereof, including, without limitation, the interior surfaces of the exterior walls,  interior doors, door frames, door checks, windows and window
      frames, all wall and floor coverings, all building systems and components thereof that exclusively service the Leased Premises, and alterations, additions or improvements (“Alterations”) made by or on behalf of Tenant and shall make all other
      interior non-structural repairs, replacements, renewals and restorations, ordinary and extraordinary, foreseen and unforeseen, required to be made in and to the Leased Premises.  The term “repair” as used in this Section shall include replacements
      when necessary.   Tenant agrees to generally maintain the Leased Premises at a minimum temperature of 45 degrees to prevent the freezing of domestic water and sprinkler pipes and (with respect to the office area of the Leased Premises only) no higher
      than 78 degrees to prevent humidity, mold and mildew. In the event Tenant vacates the Leased Premises, Tenant shall be required to (i) continuously operate the HVAC system to maintain the temperatures set forth in the previous sentence, and (ii)
      inspect the Leased Premises and, report any defective conditions to Landlord immediately, and confirm upon request of the Landlord that such inspections have taken place.

     

    

    
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    7.2      From and after the earlier of (i) commencement by AES of the AES Work, or (ii) the Commencement Date, Tenant shall, at its own cost and expense, pay all electric, gas, water, sewer and other utility charges
      servicing the Leased Premises.  Landlord shall install, a water meter at the Leased Premises at its cost and expense.  Tenant shall not store any items outside the Leased Premises, and shall deliver its garbage and recyclables to the central
      receiving area as shown on Exhibit A.  Tenant shall dispose of all hazardous/medical waste with an approved hauler at its own cost.

     

    

    7.3      Landlord does not warrant that any services Landlord or any public utilities supply will not be interrupted.  Services may be interrupted because of accidents, repairs, alterations, improvements, or any other
      reason beyond the reasonable control of Landlord and Landlord, except for in connection with the gross negligence or willful misconduct of Landlord or its agents or employees, shall not be subject to liability as a result thereof.  Notwithstanding
      the above, if essential services (water, electric or gas) are interrupted for more than six (6) days (excluding days declared as a state of emergency by the State of New Jersey) except if such interruption is caused by Tenant’s failure to maintain
      and repair the Leased Premises, and such interruption shall prevent Tenant from operating its business in the normal course, then Tenant shall be entitled to an abatement of Base Rent from and after the six (6) days until service is restored.

    

    8.           COMMON AREA EXPENSES, TAXES AND INSURANCE

    8.1     Based upon a Building area of 103,720 square feet, the Tenant shall pay to the Landlord, monthly, as Additional Rent the cost of the following items, all of which shall be known as Common Area Expenses:

     

    

    (a)     The costs incurred by the Landlord for the operation, maintenance, and repair of the Common Areas in the Office Park, including Tenant’s Parking (“Operating Costs”), which costs to Tenant (“Tenant’s Share of OC”)
      shall be $3.20 per square foot for calendar year 2018 and shall be adjusted each January 1st commencing on January 1, 2019 by three (3%) percent, including the following:

     

    

    
      	 	
              (1)

            	
              lawns and landscaping

            

    

     

    

    
       

    

    
      
        	

              	(2)	
                exterior sewer lines;

              

      

    

    

    

    
      
        	

              	(3)	
                exterior utility lines which are not maintained by a public utility company;

              

      

    

    

    

    
      
        	

              	(4)	
                repair and maintenance of any signs furnished and installed by Landlord serving the Office Park;

              

      

    

    

    

    
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              	(5)	
                snow removal from all parking lots, driveways and walkways;

              

      

    

    

    

    
      
        	

              	(6)	
                standard trash disposal and recycling;

              

      

    

    

    

    
      
        	

              	(7)	
                ground maintenance and maintenance of the parking lot, driveways, and walkways;

              

      

    

    

    

    
      
        	

              	(8)	
                maintenance contracts for the roof;

              

      

    

    

    

    
      
        	

              	(9)	
                pest control;

              

      

    

    

    

    
      
        	

              	(10)	
                central station monitoring for fire sprinkler system; and

              

      

    

    

    

    
      
        	

              	(11)	
                other ordinary maintenance expenses normally incurred by Landlord relating to the Building (excluding any costs associated with the elevator, including maintenance and service of elevator) and common areas of the Office Park;

              

      

    

    

    

    The $3.20/square foot, as increased annually, shall include the cost of the annual insurance premiums charged to the Landlord for insurance coverage which insure the buildings in the Office Park. The insurance shall be for the full replacement
      value of all insurable improvements with any customary extensions of coverage including, but not limited to, vandalism, malicious mischief, sprinkler damage and comprehensive liability, and insurance for one year’s rent.  The Landlord shall maintain
      said insurance in effect at all times hereunder.  Any increase in the insurance premiums due to a change in rating of the Building to the extent attributable to Tenant’s use, or due to special Tenant equipment, shall be paid entirely by the Tenant,
      except to the extent that the increase is due to construction of the Tenant Improvements and occupancy by Tenant of the Leased Premises which was otherwise a vacant building.  Tenant expressly acknowledges that Landlord shall not maintain insurance
      on Tenant’s furniture, laboratory fixtures, machinery, inventory, equipment or other personal property; and

     

    

    (b)     Tenant shall pay all real estate taxes assessed by governmental authorities against the Building and Property directly to Cranbury Township.  Tenant shall provide evidence of payment of taxes
      upon request by Landlord after the date taxes are due.  Nonpayment of these taxes prior to assessment of late fees shall be considered a default.  In the event Landlord pays any delinquent taxes, Tenant shall be charged interest on the taxes and any
      penalties paid by Landlord, at the rate of 1.5% per month; and

     

    

     

    (c)      A management fee of 3% of the Tenant’s Base Rent.

     

    

    
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    8.2      Tenant’s Share of Operating Costs for any calendar year, part of which falls within the term of this Lease and part of which does not, shall be appropriately prorated.

     

    

    8.3     If at any time during the term of this Lease the method or scope of taxation for real estate taxes prevailing at the commencement of the Lease Term shall be altered, Tenant’s  substituted tax or imposition shall
      be payable and discharged by the Tenant in the manner required pursuant to the law which shall authorize such change.

     

    

    8.4     If at any time during the Term of the Lease any portion of the Building is leased by Landlord to another tenant, including any portion of the basement, then the Tenant’s obligation to pay Real Estate Taxes shall
      be reduced to exclude the proportionate share of such Real Estate taxes attributable to the portion of the Building leased to another tenant.  In addition, if at any time during the Lease term Landlord recaptures any portion of the Building, then
      Tenant’s obligation to pay Operating Expenses shall be reduced to exclude the proportionate share of such Operating Expenses attributable to the portion of the Building recaptured by Landlord.

     

    

    8.5      Tenant, at all times and at its expense, shall keep in effect commercial general liability insurance, including contractual liability insurance, covering Tenant’s use of the Leased Premises, with such coverages
      and limits of liability as Landlord may reasonably require, but not less than a $2,000,000 combined single limit with a $5,000,000 general aggregate limit (which may be satisfied by an umbrella liability policy) for bodily injury or property damage
      and no less than $300,000.00 for property damage, with a deductible of no more than $20,000.00; however, such limits shall not limit Tenant’s liability hereunder.  The policy shall name Landlord, and at Landlord’s written request, any mortgagee(s),
      as additional insureds, shall be written on an “occurrence” basis and not on a “claims made” basis and shall be endorsed to provide that it is primary to and not contributory to any policies carried by Landlord and to provide that it shall not be
      cancelable or reduced without 10 days prior notice to Landlord for nonpayment of premium, and at least 30 days prior notice to Landlord for all other reasons.  The insurer shall be authorized to issue such insurance, licensed to do business and
      admitted in the state in which the Office Park is located and rated at least A VII in the most current edition of Best’s Insurance Reports.  Tenant shall deliver to Landlord on or before the Commencement Date or any earlier date on which Tenant
      accesses the Leased Premises, and at least 30 days prior to the date of each policy renewal, a certificate of insurance evidencing such coverage.  Tenant shall at all times, at its own cost and expense, carry sufficient “All Risk” property insurance
      on a replacement cost basis to avoid any coinsurance penalties in applicable policies on all of Tenant’s furniture, furnishings, fixtures, machinery, equipment and installations as well as on any Tenant Alterations.  Such coverage is to include
      property undergoing additions and alterations, and shall cover the value of equipment and supplies awaiting installations.

     

    

    
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    (c)      Landlord and Tenant each waive, and release each other from and against, all claims for recovery against the other for any loss or damage to the property of such party arising out of fire or other casualty
      coverable by the insurance required to be maintained under the Lease. This waiver and release is effective regardless of whether the releasing party actually maintains said insurance and is not limited to the amount of insurance actually carried, or
      to the actual proceeds received after a loss.  Each party shall have its insurance company that issues its property coverage waive any rights of subrogation, and shall have the insurance company include an endorsement acknowledging this waiver, if
      necessary.

     

    

    (d)      Tenant shall have the right to file an appeal to reduce the real estate taxes for the Property at its sole cost and expense, and any reduction and reimbursement in taxes for the Property shall accrue solely for
      the benefit of Tenant.

     

    9.           SIGNS

    Tenant shall not place any signs in the Office Park without the prior consent of Landlord, other than an identification sign with Tenant’s name on the entry door to the Leased Premises, and signs that are located wholly
      within the interior of the Leased Premises.  Tenant shall maintain all signs installed by Tenant in good condition. Tenant shall remove its signs at the termination of this Lease, shall repair any resulting damage. Landlord shall provide Tenant with
      a prominent listing, including Tenant’s logo, on the two Building monument signs at the entrance to the Property. Tenant may also, at Tenant’s expense, place a ground sign with Tenant’s name on it at the entrance of the Building, subject to
      Landlord’s approval of the size, design, and placement location of such sign.

     

    

    
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    10.         ASSIGNMENT AND SUBLETTING

    10.1    (a)     Except as provided below, Tenant shall not enter into nor permit (i) any assignment, transfer, pledge or other encumbrance of all or a portion of Tenant’s interest in this Lease, (ii) any sublease,
      license or concession of all or a portion of Tenant’s interest in the Leased Premises, or (iii) any transfer of a controlling interest in Tenant voluntarily or by operation of law (collectively, “Transfer”) without the prior written consent of
      Landlord.  Landlord shall not unreasonably withhold or delay its consent if the following conditions are satisfied (i) the proposed transferee is not an existing tenant of Landlord or Landlord’s affiliate in the Office Park, (ii) the business,
      business reputation or creditworthiness of the proposed transferee is acceptable to Landlord, and (iii) there is no Event of Default under the Lease at the time Tenant requests Landlord’s consent. Consent to one Transfer shall not be deemed to be
      consent to any subsequent Transfer.  In no event shall any Transfer relieve Tenant from any obligation under this Lease.  Landlord’s acceptance of Rent from any person shall not be deemed to be a waiver by Landlord of any provision of this Lease or
      to be consent to any Transfer except that any Rent accepted by Landlord shall offset any outstanding Rent owed by Tenant.  Any Transfer not in conformity with this Section shall be void at the option of Landlord.

     

    

    (b)     Landlord’s consent shall not be required in the event of any Transfer by Tenant to an Affiliate (defined as  (i) any entity controlling, controlled by, or under common control of, Tenant, (ii) any successor to
      Tenant by merger, consolidation or reorganization, and (iii) any purchaser of all, substantially all of the assets of Tenant located in the Premises, as a going concern) provided that (i) the transferee has a tangible net worth at least equal to that
      of Tenant as of the date of this Lease, (ii) Tenant provides Landlord notice of the Transfer no later than 15 days after the effective date of the Transfer, (iii) upon written request by
      Landlord, Tenant provides copies of the current financial statements of the transferee certified by an executive officer of the transferee, and (iv) in the case of an assignment or sublease, Tenant delivers to Landlord an assumption or sublease
      agreement reasonably acceptable to Landlord executed by Tenant and the transferee.

     

    

    (c)      The provisions of subsection (a) above notwithstanding, if Tenant proposes to Transfer all of the Leased Premises (other than to an Affiliate), Landlord may terminate this Lease, and Landlord may condition the
      termination on execution of a new lease between Landlord and the proposed transferee.  If Tenant proposes to enter into a Transfer of less than all of the Leased Premises (other than to an Affiliate), Landlord may amend this Lease to remove the
      portion of the Leased Premises to be transferred, and Landlord may condition the amendment on execution of a new lease between Landlord and the proposed transferee.  If this Lease is not so terminated or amended, Tenant shall pay to Landlord monthly,
      50% of the excess of (i) all compensation received by Tenant for the Transfer of the Lease over (ii) the Rent allocable to the Leased Premises transferred, less Tenant’s reasonable expenses of marketing the space and paying brokerage commissions,
      which Landlord shall provide the Tenant with evidence of such expenditures.

     

    

    
      20

      
        

    

    (d)      If Tenant requests Landlord’s consent to a Transfer, Tenant shall upon written request by Landlord provide copies of the current financial statements of the transferee certified by an executive officer of the
      transferee, a complete copy of the proposed Transfer documents, and any other information Landlord reasonably requests. Landlord shall notify Tenant within 10 days after receipt of the foregoing, whether Landlord is granting or withholding consent,
      or, if (c) applies, whether Landlord elects to terminate the Lease. Immediately following any approved assignment or sublease, Tenant shall deliver to Landlord an assumption agreement reasonably acceptable to Landlord executed by Tenant and the
      transferee, together with a certificate of insurance evidencing the transferee’s compliance with the insurance requirements of Tenant under this Lease.  Tenant agrees to reimburse Landlord for reasonable administrative and attorneys’ fees incurred by
      Landlord in connection with the processing and documentation of any Transfer for which Landlord’s consent is requested, not to exceed $3,000.

     

    

    10.4   In the event of any assignment or subletting permitted by the Landlord, the Tenant shall remain and be directly and primarily responsible for payment and performance of the within Lease obligations, except if
      Landlord elects to terminate the Lease with respect to any portion or all of the Leased Premises in accordance with this Section 10, and the Landlord reserves the right, at all times, to require and demand that the Tenant pay and perform the terms
      and conditions of this Lease.  In the case of a complete recapture of all or a portion of the Leased Premises, Tenant shall be released from all further liability with respect to the recaptured space.  No such assignment or subletting shall be made
      to any Tenant who shall occupy the Leased Premises for any use other than that which is permitted to the Tenant, except with Landlord’s consent, which shall not be unreasonably withheld, or for any use which may be deemed inappropriate for the
      Building or extra hazardous, or which would in any way violate applicable Legal Requirements.

     

    

    
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    11.         FIRE AND CASUALTY

    11.1    In case of any damage to or destruction of any portion of the Building of which the Leased Premises is a part by fire or other casualty occurring during the term of this  Lease (or prior thereto), which shall
      render at least 1/3 of the floor area of the Leased Premises or the building untenantable or unfit for occupancy (“Total Destruction”), which damage cannot be repaired within 180 days from the happening of such casualty, using reasonable diligence,
      as determined in a report prepared by an independent engineer, then the term hereby created shall, at the option of the Landlord, upon written notice to the Tenant within 15 days of such fire or casualty, cease and become null and void from the date
      of such Total Destruction unless within fifteen (15) days of Landlord’s notice of Total Destruction Tenant sends notice to Landlord that it elects to continue the Lease notwithstanding the fact that the Leased Premises cannot be repaired within 180
      days.    In the event of the termination, the Tenant shall immediately surrender the Leased Premises to the Landlord and this Lease shall terminate.  The Tenant shall only pay Rent to the time of such Total Destruction. However, in the event of Total
      Destruction if the Landlord shall elect not to cancel this Lease within the 15 day period the Landlord shall repair and restore the Building to substantially the same condition as it was prior to the damage or destruction, with reasonable speed and
      dispatch, and in all events within 180 days, or if Tenant sends notice to Landlord that it elects to continue the Lease, Landlord shall repair and restore the Building to substantially the same condition as it was prior to the damage or destruction,
      with reasonable speed and dispatch, and in all events within the timeframe stated in the independent engineer’s report.  The Rent shall not be accrued after said damage or while the repairs and restorations are being made, but shall recommence upon
      30 days notice from Landlord that the Leased Premises are substantially restored as evidenced by the issuance of a CO by municipal authorities.  In any case where Landlord must restore, consideration shall be given for delays under the Force Majeure
      paragraph in this Lease.   Whether or not this Lease has been terminated as a result of a casualty, in every instance, all insurance proceeds payable under policies of insurance carried by Landlord as a result of damage or destruction to the Building
      shall be paid to Landlord as its sole and exclusive property.

     

    

    11.2    In the event of any other casualty which shall not be tantamount to Total Destruction the Landlord shall repair and restore the Building and the Leased Premises to substantially the same condition as they were
      prior to the damage or destruction, but not Tenant’s personal property, furnishings, inventory, fixtures or equipment, with reasonable speed and dispatch.  Such repairs will not exceed 180 days from the date of the casualty.  The Rent shall abate or
      shall be equitably apportioned as to any portion of the Leased Premises which shall be unfit for occupancy by the Tenant, or which cannot be used by the Tenant to conduct its business in the ordinary course.  The Rent shall recommence 30 days after
      notice from Landlord that the Leased Premises has been substantially restored, as evidenced by the issuance of a CO by municipal authorities.

     

    

    11.3    In the event of any casualty caused by an event which is not covered by Landlord’s insurance policy; the Landlord may elect to treat the casualty as though it had insurance or it may terminate the Lease.  If it
      treats the casualty as though it had insurance then the provisions of this paragraph shall apply.  The Landlord shall serve a written notice upon the Tenant within 15 days of the casualty specifying the election which it chooses to make.

     

    

    
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    11.4    In the event the Landlord rebuilds, the Tenant agrees, at its cost and expense, to forthwith remove any and all of its equipment, fixtures, stock and personal property to the extent necessary to permit Landlord
      to expedite the construction unless such costs would be covered by Landlord’s insurance.  The Tenant shall assume at its sole risk the responsibility for damage to or security of such fixtures and equipment in the event that any portion of the
      Building area has been damaged and is not secure.

     

    

    
      12.         COMPLIANCE WITH LAWS, RULES AND REGULATIONS

    

    
      12.1. Compliance with Legal Requirements

       

      

      (a)      Tenant covenants and agrees that it will, at its own cost, promptly comply with and carry out all Legal Requirements, including, but not limited to Environmental Laws, as defined below, to
        the extent that same apply to the manner of Tenant’s occupation or use of the Leased Premises, the conduct of Tenant’s business therein, the construction of any Alterations to the Leased Premises by or on behalf of Tenant, any termination of this
        Lease and surrender of possession by Tenant, or any acts, omissions or other activities of Tenant in or on the Office Park.  Subject to the foregoing, to the extent that any Legal Requirements require modifications to the Leased Premises or the
        Building, in order to bring same into compliance with Legal Requirements and such Legal Requirements were in effect prior to the Commencement Date and are not Tenant’s responsibility under this Section, Landlord shall be responsible for the
        compliance of such items with such Legal Requirements at Landlord’s cost.

       

      

      (b)      The Tenant agrees, at its own cost and expense, to comply with such regulations or requests as may be required by the fire or liability insurance carriers providing insurance for the
        Leased Premises, and the Board of Fire Underwriters, in connection with Tenant’s use and occupancy of the Leased Premises.

       

      

      (c)      In case the Tenant shall fail to comply with Legal Requirements, then Landlord may, after 10 days’ written notice (except for emergency repairs, which may be made immediately), enter the
        Leased Premises and take any reasonable actions to comply with them, at the cost and expense of the Tenant if Tenant has not otherwise commenced and then diligently pursued such actions as are necessary to comply with Legal Requirements.  In
        addition to Landlord’s rights and remedies by reason of default by Tenant, the cost thereof shall be added to the next month’s Rent and shall be due and payable as such.

       

      

      
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      12.2.   Compliance with Environmental Laws.

       

      

    

    
      (a)      “Environmental Laws” are defined herein as all present or future federal, state or local laws, ordinances, rules, executive orders
          or regulations (including the rules and regulations of the federal Environmental Protection Agency and comparable state agency) relating to the protection of human health or the environment including, but not limited to the Comprehensive Environmental Response Compensation and Liability Act of 1980, 42 U.S.C. 9601 et seq.. (“CERCLA”); the Industrial Site Recovery Act, N.J.S.A. 13:lK-6 et seq., (“ISRA”); the New Jersey Spill
          Compensation and Control Act, N.J.S.A. 58:10-23.11 et seq., (“Spill Act”): the Solid Waste Management Act, N.J.S.A. 13:1E-1 et seq.. (“SWMA”); the Resource Conservation and Recovery Act, 42 U.S.C. 6901 et seq..(“RCRA”); the New Jersey Underground
          Storage of Hazardous Substances Act, NJ.S.A. 58:10A-21 et seq., (“USTA”); the Clean Air Act, 42 U.S.C. Section 7401 et seq., (“CAA”); the Air Pollution Control Act, NJ.S.A. 26:2C-1 et seq. (“APCA”); the New Jersey Water Pollution Control Act,
          N.J.S.A. 58:10A-1 et seq., (“WPCA”); and any rules or regulations promulgated thereunder or in any other applicable federal, state or local law, rule or regulation dealing with environmental protection.

       

        

      (b)     For purposes of Environmental Laws, to the extent authorized by law, Tenant is and shall be deemed to be the responsible party,
          including without limitation, the “owner” and “operator” of Tenant’s “facility” (but not the “owner” of the Property) and the “owner” of all Hazardous Materials brought on the Leased Premises and/or Property by Tenant, its agents, employees,
          contractors or invitees, and the wastes, by-products, or residues generated, resulting, or produced therefrom.

       

        

      (c)      Tenant agrees that:   (i) no activity will be conducted on the Leased Premises that will use or produce any pollutants,
          contaminants, toxic or hazardous wastes or other materials the removal of which is required or the use of which is regulated, restricted, or prohibited by any Environmental Law (“Hazardous Materials,”) except for activities which are part of the
          ordinary course of Tenant’s business and are conducted in accordance with all Environmental Laws, (“Permitted Activities”); “Hazardous Materials” includes any pollutant, dangerous substance, toxic
          substances, any hazardous chemical, hazardous substance, hazardous pollutant, hazardous waste or any similar term as defined in or pursuant to the (i) CERCLA; (ii) RCRA; (iii) ISRA; (iv) Spill Act; (v) USTA; (vi) WPCA; (vii) APCA; (viii) SWMA;
          (ix) CAA; and (x) USTA and any rules or regulations promulgated thereunder or in any other applicable federal, state or local law, rule or regulation dealing with environmental protection (it is understood and agreed that the provisions contained
          in this Lease shall be applicable notwithstanding whether any substance shall not have been deemed to be a Hazardous Material at the time of its use or release); (ii) the Leased Premises will not be used
          for storage of any Hazardous Materials, except for materials used in the Permitted Activities which are properly stored in a manner and location complying with all Environmental Laws; (iii) no portion of the Leased Premises or real property on
          which the Leased Premises is located (the “Property”) will be used by Tenant or Tenant’s Agents for disposal of Hazardous Materials except in accordance with Environmental Laws; (iv) Tenant will deliver to Landlord copies of all Material Safety
          Data Sheets and other written information prepared by manufacturers, importers or suppliers of any chemical on compact disks or electronic format acceptable to Landlord; and (v) Tenant will immediately notify Landlord of any violation by Tenant
          or Tenant’s Agents of any Environmental Laws or the release or suspected release of Hazardous Materials in, under or about the Leased Premises, and Tenant shall immediately deliver to Landlord a copy of any notice, filing or permit sent or
          received by Tenant with respect to the foregoing. “Release” shall mean the spilling, leaking, disposing, pumping, pouring, discharging, emitting emptying, ejecting, depositing, injecting, leaching, escaping or dumping however defined, and whether
          intentional or unintentional, of any Hazardous Material.

       

        

    

    
      24

      
        

    

    
      (d)     Tenant shall take immediate steps to halt, remedy or cure any release of a Hazardous Material in under or about the Leased Premises
          to the extent caused by the Tenant or by its use of the Leased Premises. If at any time during or after the Term, any portion of the Property is found to be contaminated by Tenant or Tenant’s Agents or subject to conditions prohibited in this
          Lease caused by Tenant or Tenant’s Agents or Tenant’s invitees, Tenant will indemnify, defend and hold Landlord harmless from all claims, demands, actions, liabilities, costs, expenses, attorneys’ fees, damages and obligations of any nature
          arising from or as a result thereof, and Landlord shall have the right to direct remediation activities, all of which shall be performed at Tenant’s cost and in a manner in compliance with Environmental Laws.  Such remediation shall be completed
          without the use of Engineering Controls or Institutional Controls (as those terms are defined at N.J.A.C. 7:26E-1.8)(“Controls”) except to the extent such Controls are in place or required to address conditions that are not the responsibility of
          Tenant hereunder.  Tenant shall perform such work at any time during the period of the Lease upon written request by Landlord or, in the absence of a specific request by Landlord, before Tenant’s
          right to possession of the Leased Premises and/or Property terminates or expires to the extent practicable. Tenant’s obligations pursuant to this subsection shall survive the expiration or termination of
          this Lease. If Tenant fails to perform such work within the reasonable time period specified by Landlord or before Tenant’s right to possession terminates or expires (whichever is earlier), Landlord
          may at its discretion, and without waiving any other remedy available under this Lease or at law or equity (including without limitation an action to compel Tenant to perform such work), perform such work at Tenant’s cost. Tenant shall pay all
          costs reasonably incurred by Landlord in performing such work within twenty (20) days after Landlord’s request therefor. Such work performed by Landlord is on behalf of Tenant and Tenant remains the owner, generator, operator, transporter, and/or
          arranger of the Hazardous Materials for purposes of Environmental Laws.  Tenant agrees not to enter into any agreement with any person, including without limitation any governmental authority, regarding the removal of Hazardous Materials that
          have been released onto or from the Leased Premises without the written approval of the Landlord, which approval shall not be unreasonably withheld, conditioned or delayed.

       

      

    

    
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      (e)      Tenant hereby represents and warrants that its North American Industrial Classification System (“NAICS”) classification, as defined by the most recent edition of the NAICS
          United States Manual is 541710 .  Tenant hereby agrees that it shall promptly inform Landlord of any change in its NAICS number and obtain Landlord’s consent for any change in the nature of the business to be conducted in the Leased Premises.  If
          Tenant’s operations on the Premises constitute an “Industrial Establishment” (as that term is defined by ISRA) Tenant shall comply with ISRA, the regulations promulgated thereunder and any amending and successor legislation and regulations
          (including, without limitation, the New Jersey Site Remediation Reform Act, N.J.S.A. 58:10C-1 et seq., referred to herein as “SRRA”) by obtaining one of the following:  (i) a de minimis quantity exemption; (ii) a Response Action Outcome with
          respect to the Leased Premises; or (iii) such confirmation that indicates that the New Jersey Department of Environmental Protection  has confirmed that ISRA compliance has been achieved (“ISRA Clearance”).  Tenant shall make all submissions to,
          provide all information to, and comply with all requirements of, the New Jersey Department of Environmental Protection (“NJDEP”) and a Licensed Site Remediation Professional (as this term is defined under SRRA, herein referred to as an “LSRP”) as
          selected by Tenant as necessary to accomplish ISRA Clearance.  Without limitation of the foregoing, Tenant’s obligations shall include (i) the proper filing, with the NJDEP, of an initial notice under
          NJ.S.A. 13:lK-9(a) and (ii) the performance of all remediation and other requirements of ISRA, including without limitation all requirements of N.J.S.A. 13:lK-9(b) through and including (l).  However, if
          the timing of compliance with ISRA is triggered by an act of Landlord (such as by Landlord’s sale of the Property) the Landlord shall be responsible for all costs (including reasonable consultant and legal fees and filing fees) associated with
          Initial Notice submissions needed to achieve ISRA compliance.

       

      

    

    
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      (f)      In the event that ISRA Clearance, if required, is not delivered to the Landlord prior to surrender of the Leased Premises by the Tenant to the Landlord, to the extent the failure to obtain
        ISRA clearance precludes Landlord from leasing the Leased Premises to another party at fair market rents, it is understood and agreed that the Tenant shall be liable to pay to the Landlord an amount equal to 200% of the Base Rent then in effect,
        together with all applicable Additional Rent from the date of such surrender until such ISRA Clearance is delivered to the Landlord, and together with any costs and expenses reasonably incurred by Landlord in enforcing Tenant’s obligations under
        this paragraph.

       

      

      (g)     In addition to the above, Tenant agrees that it shall cooperate with Landlord in the event ISRA is applicable to any portion of the Property.  In such case, Tenant agrees that
          it shall fully cooperate with Landlord in connection with any information or documentation which may be requested by the NJDEP or the relevant LSRP.  In the event that any remediation of the Property is required in connection with the conduct by
          Tenant of its business at the Leased Premises, Tenant expressly covenants and agrees that it shall be responsible for the remediation attributable to the Tenant’s operation and Tenant shall, at
          Tenant’s own expense, prepare and submit the required plans and financial assurances, and carry out the approved remediation plans. 

       

        

      (h)     Tenant shall indemnify, defend and hold Landlord harmless from and against any and all losses (including, without limitation, diminution in value of the Premises or the Property), claims,
        demands, actions, suits, damages (excluding punitive damages from the indemnification to the extent that such damages result from acts or omissions of Landlord), reasonable expenses (including, without limitation, remediation, removal, repair,
        corrective action, or clean up expenses), and reasonable costs (including, without limitation, actual attorneys’ fees, consultant fees or expert fees) which are brought or are recoverable against, or suffered or incurred by Landlord to the extent
        resulting from any breach of the requirements under this Section 12 by Tenant, its agents, employees, contractors, subtenants, assignees or invitees, regardless of whether Tenant had knowledge of such non-compliance.

       

      

      (i)      Notwithstanding anything in this Lease to the contrary, the liability of the Tenant, and any indemnities provided by the Tenant hereunder, shall not extend to Hazardous Materials that were
        placed on the Leased Premises, in the Building, or on the Office Park by Landlord, by any of Landlord’s Agents, or by any current or former tenant of the Office Park other than Tenant.  In addition, Landlord shall not include in Additional Rent or
        Operating Costs, or pass on to Tenant directly or indirectly, the cost incurred by Landlord in monitoring, reporting, testing, abating and/or removing Hazardous Materials that were contained in the Leased Premises, in the Building and/or on the
        Office Park unless caused by Tenant or Tenant’s Agents.

       

      

    

    
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    (j)      Landlord’s Indemnity. Landlord hereby represents that, to the best of its knowledge, as of the date of this Lease, there are no Hazardous Substances located in the Office Park which violate any
      Environmental Laws. Landlord shall comply with all applicable Environmental Laws, and shall indemnify, defend, and hold harmless Tenant from and against any and all liabilities, damages, claims, losses, judgments, causes of action, and reasonable
      costs and expenses (including the reasonable fees and expenses of counsel) that may be incurred by Tenant or threatened against Tenant, relating to or arising out of Hazardous Substances located on, in or under the Office Park as of the Commencement
      Date, or were introduced onto the Office Park after the Commencement Date that are not Tenant’s responsibility hereunder.

     

    12.3    The covenants of this section 12 shall survive the expiration or earlier termination of the Lease term.

    
      

      

    

    13.         INSPECTION BY LANDLORD

    Tenant agrees that Landlord shall have the right to enter into the Leased Premises during business hours for the purpose of examining the same upon reasonable advance written notice of not less than 24 hours (except in
      the event of emergency), or to make such repairs as are necessary, to exhibit the Leased Premises to mortgagees or prospective mortgagees or purchasers, and during the last 12 months of the Term, to prospective tenants.  Upon Tenant’s request,
      Landlord or its agents shall be accompanied by a representative of Tenant.  Notwithstanding anything contained herein, Landlord shall not be permitted to enter any portion(s) of the Leased Premises if Legal Requirements prohibit Landlord’s access to
      such portion of the Premises due to confidentiality restrictions.  Landlord agrees that its employees, representatives or agents shall not enter any sterile areas within the Leased Premises without following the procedures outlined by Tenant for
      access to these areas.  Any entry or repair shall not materially interfere with Tenant’s use of or access to the Leased Premises. Tenant agrees that if Tenant has ceased business operations in the Leased Premises and vacated the Leased Premises,
      Landlord shall have the right to enter into the Leased Premises at all hours for any reason without notice.  If Tenant vacates the Leased Premises, Tenant shall immediately give Landlord a copy of all keys and swipe cards and Landlord shall have the
      right to enter the Leased Premises at any time.

     

    

    
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    14.         DEFAULT BY TENANT

    14.1    Each of the following shall be deemed a default (“Event of Default”) by Tenant and a breach of this Lease:

     

    

     (a)   (1)        filing of a petition by the Tenant for adjudication as a bankrupt entity, or for reorganization, or for an arrangement under any federal or state statute, except in a Chapter 11
      Bankruptcy where the Rent stipulated herein is being paid and the terms of the Lease are being complied with;

     

    

     (2)        dissolution or liquidation of the Tenant;

     

    

     (3)        appointment of a permanent receiver or a permanent trustee of all or substantially all of the property of the Tenant, if such appointment shall not be vacated within 60 days, provided the
      Rent stipulated herein is being paid and the terms of the Lease are being complied with, during said 60-day period;

     

    

    (4)        taking possession of the property of the Tenant by a governmental officer or agency pursuant to statutory authority for dissolution, rehabilitation, reorganization or liquidation of the
      Tenant if such taking of possession shall not be vacated within 60 days, provided the Rent stipulated herein is being paid and the terms of the Lease are being complied with, during said 60-day period;

     

    

    
      (5)        making by the Tenant of an assignment for the benefit of creditors; and

    

     

    

    
      (6)        abandonment, desertion or vacation of the Leased Premises by the Tenant, unless Tenant employs at least one individual in the Leased Premises on a full-time basis for the purpose of
        maintaining the HVAC system and observing the Leased Premises.

       

      

    

    (b)      if Tenant defaults in the payment of Rent or any other sums due under the Lease when due and such default continues for five business days after written notice thereof from Landlord, provided however, that if
      Landlord has delivered two such written notices of default to Tenant in any 12-month period, then any subsequent default in the payment of Rent or any other sums due under the Lease which is not paid within five business days after the date it is due
      shall constitute an Event of Default without requirement of any written notice of nonpayment.

     

    

    
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    (c)      if Tenant shall, whether by action or inaction, be in default of any other obligations under this Lease for 30 business days after written notice thereof from Landlord. The foregoing notwithstanding, if (i) such
      default cannot reasonably be cured within such 30-day period despite Tenant’s due diligence, (ii) the continuance of the cure period beyond 30 business days after Landlord’s default written notice will not subject Landlord or any mortgagee of
      Landlord to prosecution for a crime or any other civil or criminal fine or charge, or otherwise violate applicable Laws, subject the Office Park, or any part thereof, to being condemned or vacated, subject the Office Park, or any part thereof, to any
      lien or encumbrance, or result in the foreclosure of any mortgage or deed of trust on the Office Park, (iii) no emergency exists, and (iv) Tenant advises Landlord in writing within the initial 30 business day period of Tenant’s intention to take all
      steps necessary to cure such default and duly commences and thereafter diligently and continuously prosecutes to completion all steps necessary to cure such default, then such 30-day cure period shall be extended for a reasonable period of time as
      necessary under the circumstances for Tenant to cure such default (but in no event shall the cure period be extended beyond 75 days after the date of Landlord’s default written notice to Tenant).

     

    

    (d)     if Tenant shall assign this Lease or sublet the Leased Premises or any portion thereof in violation of the requirements of the Lease.

     

    

    14.2    Upon the occurrence of an Event of Default, Landlord shall have the following remedies, in addition to any and all other rights and remedies provided by law or otherwise provided in this Lease, any one or more of
      which Landlord may resort to cumulatively, consecutively, or in the alternative:

     

    

    (a)      Landlord may continue this Lease in full force and effect, and collect Rent when due.

     

    

    (b)     Landlord may terminate this Lease upon written notice to Tenant to such effect, in which event this Lease (and all of Tenant’s rights hereunder) shall immediately terminate, but such termination shall not affect
      those obligations of Tenant which are intended by their terms to survive the expiration or termination of this Lease, nor Tenant’s obligation to pay damages as set forth below.  This Lease may also be terminated by a judgment specifically providing
      for termination.

     

    

    
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    (c)     Landlord may terminate Tenant’s right of possession without terminating this Lease, in which event Tenant’s right of possession of the Leased Premises shall immediately terminate, but this Lease shall continue
      subject to the effect of this Section.  Landlord may, but shall not be obligated to, perform any defaulted obligation of Tenant, and to recover from Tenant, as Additional Rent, the reasonable and actual costs incurred by Landlord in performing such
      obligation. Landlord may only exercise its rights under this Section with such prior written notice as may be reasonable under the circumstances in the event of any one or more of the following circumstances is present: (i) there exists a reasonable
      risk of prosecution of Landlord unless such obligation is performed sooner than the stated cure period; (ii) there exists an emergency arising out of the defaulted obligation; or (iii) the Tenant has failed to obtain insurance required by this Lease,
      or such insurance has been canceled by the insurer without being timely replaced by Tenant, as required herein.

     

    

    (d)     Landlord shall have the right to recover damages from Tenant, as set forth in the following Section. Upon any termination of this Lease or of Tenant’s right of possession, Landlord, at its sole election,  may (i)
      re-enter and take possession of the Leased Premises and all the remaining improvements or property, (ii) eject Tenant or any of the Tenant’s subtenants, assignees or other person or persons claiming any right under or through Tenant, (iii) remove all
      property from the Leased Premises and store the same  in a public warehouse or elsewhere at Tenant’s expense, and/or (iv) deem such property to be abandoned, and, in such event, Landlord may dispose of such property at Tenant’s expense, free from any
      claim by Tenant or anyone claiming by, through or under Tenant.  Landlord shall use reasonable commercial efforts to relet the Leased Premises after recovering possession of the Leased Premises. It shall not constitute a constructive or other
      termination of this Lease or Tenant’s right to possession if Landlord (A) exercises its right to repair or maintain the Leased Premises, (B) performs any unperformed obligations of Tenant, (C) stores or removes Tenant’s property from the Leased
      Premises after Tenant’s dispossession, (D) attempts to relet, or, in fact, does relet, the Leased Premises or (E) seeks the appointment of a receiver on Landlord’s initiative to protect Landlord’s interest under this Lease. 

    

     

    

    
      15.         DAMAGES

      (a)      Upon any termination of this Lease or Tenant’s right of possession, or any reentry by Landlord under Section 14 of the Lease, or under any summary dispossession or other proceeding or action or any provision
        of law by reason of any Event of Default by Tenant, then in addition to the aggregate amount of Rent which Tenant has failed to pay under this Lease through the date of termination or re-entry (as the case may be) and any other damages recoverable
        by Landlord under applicable state law or this Lease, Tenant shall pay to Landlord as damages, at Landlord’s election, either:

       

    

    
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    (i)          a lump sum which shall be immediately due and payable by Tenant and which, at the time of termination of this Lease or any such reentry by Landlord, as the case may be, represents the excess of (a) the
      aggregate amount of the Base Rent and Additional Rent which would have been payable by Tenant (conclusively presuming that the average monthly Additional Rent is the same as was payable for the 12 calendar months prior to such termination or reentry,
      or if less than 12 calendar months have elapsed since the Rent Commencement Date, then all of the calendar months preceding such termination or reentry) for the period commencing with such termination or reentry, as the case may be, and ending with
      the Expiration Date, over (b) the aggregate amount of Rent that Tenant proves should reasonably have been received by Landlord for the same period (taking into account an appropriate vacancy period to seek and obtain a replacement tenant and time to
      fit the Leased Premises out for such tenant’s occupancy, during which Landlord cannot reasonably be expected to receive rent), which excess amount shall be discounted to present value using a discount rate equal to the lesser of (A) the prime rate of
      interest announced from time to time in the “Money Rates” column of The Wall Street Journal (or any successor column published by The Wall Street Journal, or if there be none, such index of the then prevailing “prime rate” of interest as designated
      by Landlord) plus 1%, or (B) 6% per annum; or

     

    

    (ii)         sums equal to the Base Rent and Additional Rent provided for in this Lease which would have been payable by Tenant had this Lease not been terminated, or Landlord had not so reentered, payable upon the due
      dates specified herein for such payments following such termination or reentry until the Expiration Date.

     

    

    
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    (b)      In addition, Tenant shall immediately become liable to Landlord for all damages proximately caused by Tenant’s breach of its obligations under this Lease, including all costs Landlord realizes and incurs through
      the use of a third party in reletting (or attempting to relet) the Leased Premises or any part thereof, including, without limitation, third party brokers’ commissions, expenses of a vendor for cleaning the Leased Premises for new tenants, reasonable
      outside legal fees and all other like third party expenses properly chargeable against the Leased Premises and the rental received therefrom and like costs.  If Landlord relets the Leased Premises (or any portion thereof), such reletting may be for a
      period shorter or longer than the remaining Term, and upon such terms and conditions as Landlord deems appropriate, in its reasonable discretion, and Tenant shall have no interest in any sums collected by Landlord in connection with such reletting
      (except as a credit against any damages payable by Tenant) except to the extent expressly set forth herein. Landlord shall use commercially reasonable efforts to mitigate its damages hereunder, provided that Landlord (i) shall not be obligated to
      show preference for reletting the Leased Premises over any other vacant space in the Building; (ii) may divide the Leased Premises, as Landlord deems appropriate, (iii) may relet the whole or any portion of the Leased Premises upon such terms as it
      deems appropriate, and may grant any rental or other lease concessions as it reasonably deems advisable under prevailing market conditions, including rent abatements for a portion of the term; and (iv) Landlord’s obligation to mitigate damages shall
      be deemed satisfied by its providing adequate information to a commercial third party broker as to the availability of such space (based on a customary brokerage fee being earned by such broker), having the Leased Premises available for inspection by
      prospective tenants during reasonable business hours, and by acceptance of a commercially reasonable offer for the Leased Premises from a creditworthy person or entity based on a form of lease agreement which is substantially the same as the form
      utilized for other space tenants in the Building. If Landlord shall succeed in reletting the Leased Premises during the period in which Tenant is paying monthly rent damages, Landlord shall credit Tenant with the net rents collected by Landlord from
      such reletting, after first deducting from the gross rents, as and when collected by Landlord, (A) all third party expenses incurred or paid by Landlord in collecting such rents, and (B) any theretofore unrecovered costs associated with the
      termination of this Lease or Landlord’s reentry into the Leased Premises, including any theretofore unrecovered expenses of reletting and other damages payable hereunder.  If the Leased Premises or any portion thereof be relet by Landlord for the
      unexpired portion of the Term before presentation of proof of such damages to any court, commission or tribunal, the amount of rent reserved upon such reletting shall, prima facie, constitute the fair and reasonable rental value for the Leased
      Premises, or part thereof, so relet for the term of the reletting.  Provided in all cases that Landlord has acted in a commercially reasonable manner and in conformance with this Section 15.  Landlord shall not be liable in any way whatsoever for its
      failure or refusal to relet the Leased Premises, or if the Leased Premises or any part are relet, for its failure to collect the rent under such reletting, and no such refusal or failure to relet or failure to collect rent shall release or affect
      Tenant’s liability for damages or otherwise under this Lease.

     

    

    
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    (c)      Notwithstanding anything to the contrary contained in this Lease, Landlord shall not make any claim against Tenant for (i) any damage to, or loss of, any property of Landlord or any other person, or (ii)
      special, consequential, indirect or punitive damages.  Landlord hereby waives all claims against Tenant with respect to the foregoing.   The provisions of this Section 15(c) shall survive the expiration or earlier termination of the Lease.

     

    16.         NOTICES

    Any notice, consent or other communication under this Lease shall be in writing and addressed to Landlord or Tenant as follows (or to such other address as either may designate by written notice to the other) with a copy
      to any mortgagee or other party designated in writing by Landlord:

     

    

    	
            (a)          If to Landlord, one copy to each of the named parties:

          	
            Cedar Brook 12 Corporate Center, L.P.

            4A Cedar Brook Drive

            Cranbury, NJ 08512

            Attention: Bruce Simon and Aaron Drillick

            Email: bsimon@easternproperties.net

            adrillick@easternproperties.net

          

    

    

    or such other address as Landlord may designate by notice to Tenant;

    

    

    	
            (b)          If to Tenant:

          	
            Rocket Pharmaceuticals, Inc.

            350 Fifth Avenue, Suite 7530

            New York, NY 10118

            Attention: Sara M. Turken

          
	 	
            Email:  st@rocketpharma.com

          
	 	 
	
            and a copy under separate cover to:

          	
            Sills, Cummis & Gross, P.C.

            1 Riverfront Plaza

            Newark, NJ 07102

            Attention: Debbie Kramer Gregg, Esq.

            Email: dgregg@sillscummis.com

          

    

    

    
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    Each written notice shall be deemed given if sent by prepaid overnight delivery service or by certified mail, return receipt requested, postage prepaid or by electronic mail, provided delivery is confirmed and is
      followed by notice sent by overnight delivery service, with delivery in any case evidenced by a receipt, and shall be deemed to have been given on the day of actual delivery to the intended recipient or on the business day delivery is refused.  The
      giving of written notice by Landlord’s or Tenant’s attorneys, representatives and agents under this Section shall be deemed to be the acts of Landlord or Tenant, as applicable.

     

    17.         NON-WAIVER BY LANDLORD

    The failure of Landlord to insist upon the strict performance of any of the terms of this Lease, or to exercise any option contained herein, shall not be construed as a waiver of any such term.  Acceptance by Landlord of
      performance of anything required by this Lease to be performed, with the knowledge of the breach of any term of this Lease, shall not be deemed a waiver of such breach, nor shall acceptance of Rent in a lesser amount than is due (regardless of any
      endorsement on any check, or any statement in any letter accompanying any payment of Rent) be construed either as an accord and satisfaction or in any manner other than as payment on account of the earliest Rent then unpaid by Tenant.  No waiver by
      Landlord of any term of this Lease shall be deemed to have been made unless expressed in writing and signed by Landlord.

     

    

    

    18.          ALTERATIONS

    Tenant shall have the right to make non-structural Alterations to the Leased Premises without Landlord’s consent provided the cost does not exceed a total of $200,000 in any calendar year.  Any other Alterations shall
      require Landlord’s consent which shall not be unreasonably withheld or delayed. Any construction performed in the Additional Premises shall not be considered an alteration and shall be governed by Section 3 of this Lease.  At the time Tenant requests
      Landlord’s consent for any Alterations that require Landlord’s consent, Tenant shall deliver plans and specifications to Landlord. Landlord shall notify Tenant, within ten (10) business days after receipt of Tenant’s plans and specifications, whether
      Landlord offers to perform the Alterations, along with a draft construction budget. Tenant shall notify Landlord within 10 business days whether Tenant wishes to proceed with the Alterations and whether it elects to retain Landlord to perform the
      Alterations in accordance with the construction budget provided by Landlord. In the event Landlord consents to the Alterations but does not to perform the work, Tenant shall comply with the following: (i) not less than 10 business days prior to
      commencing any Alteration, Tenant shall deliver to Landlord final plans, specifications and necessary permits for the Alteration, together with certificates evidencing that Tenant’s contractors and subcontractors have adequate insurance coverage
      naming Landlord, and any other associated or affiliated entity as their interests may appear as additional insureds, (ii) Tenant shall obtain Landlord’s prior written approval of any contractor or subcontractor which consent shall not be unreasonably
      withheld, (iii) the Alteration shall be constructed with new materials, in a good and workmanlike manner, and in compliance with all Legal Requirements and the plans and specifications delivered to, and approved by Landlord.  If Landlord is not the
      contractor, Tenant shall provide Landlord with as-built plans, in both CAD and PDF format, along with back-up disks, upon completion of the work. All Alterations attached to the Building shall become part of the realty immediately upon installation and, except for Alterations which Landlord requires Tenant to remove pursuant to this Lease, shall be surrendered with the Leased Premises without payment by
      Landlord. If Landlord’s consent to the Alterations is conditioned upon Tenant’s removal of such Alterations at the expiration or termination of the Lease Term, then Tenant will remove the Alterations and will repair any resulting damage and will
      restore the Leased Premises to the condition existing prior to the Alteration.  If any contractor performing work on behalf of Tenant files a mechanics lien against the Property, then Tenant, within 15 days after receipt of notice that a lien has
      been filed shall either discharge the lien or post sufficient security in the amount of the lien to guaranty the removal of the lien.

     

    
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    19.         NON-LIABILITY OF LANDLORD

    Tenant agrees to assume all risk of damage to its property, equipment and fixtures occurring in or about the Leased Premises, whatever the cause of such damage or casualty except if caused by the gross negligence or
      willful misconduct of Landlord. Landlord shall not be liable for any damage or injury to property or person caused by or resulting from steam, electricity, gas, water, rain, ice or snow, or any leak or flow from or into any part of the Building, or
      from any damage or injury resulting or arising from any other cause or happening whatsoever (refer to Paragraph 8.4 (c) of this Lease) unless caused by the gross negligence or willful misconduct of Landlord.  The Landlord shall not be released from
      liability if Tenant, its employees, agents, or visitors is injured outside the Leased Premises but within the Office Park through the gross negligence or willful misconduct of the Landlord.

    

    

    

    20.         RESERVATION OF EASEMENT

    Landlord reserves the right, easement and privilege to enter on the Leased Premises in order to install, at its own cost and expense and upon reasonable written notice to Tenant (other than in an emergency) any utility
      lines and services in connection therewith as may be required by the Landlord provided such installation is performed by Landlord during business hours and does not interfere with Tenant’s business operations.  Landlord shall indemnify and hold
      Tenant harmless from and against all damages incurred by Tenant as a result of Landlord’s exercise of its rights under this Section.  It is understood and agreed that if such work as may be required by Landlord requires any interior installation, or
      displaces any exterior paving or landscaping, the Landlord shall at its own cost and expense, restore such items, to substantially the same condition as they were before such work.

     

    
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    21.         STATEMENT OF ACCEPTANCE

    Upon the delivery of the Leased Premises to the Tenant the Tenant covenants and agrees that it will furnish to Landlord a statement which shall set forth the Date of Commencement and the Date of Expiration of the Lease
      Term.

     

    22.         FORCE MAJEURE

    Except for the obligation of the Tenant to pay Rent, including Additional Rent, the period of time during which the Landlord or Tenant is prevented from performing any act required to be performed under this Lease by
      reason of fire, catastrophe, strikes, lockouts, civil commotion, weather conditions, acts of God, government prohibitions or preemptions or embargoes, inability to obtain material or labor by reason of governmental regulations, the act or default of
      the other party, or other events beyond the reasonable control of Landlord or Tenant, as the case may be, shall be added to the time for performance of such act.

    

    

    23.         STATEMENT BY TENANT

    Tenant and Landlord shall at any time and from time to time upon not less than 10 days’ prior notice from the other execute, acknowledge and deliver to the party requesting same, a statement in writing, certifying that
      this  Lease is unmodified and in full force and effect (or if there have been modifications, that the same is in full force and effect as modified and stating the modifications), that it is not in default (or if claimed to be in default, stating the
      amount and nature of the default) and specifying the dates to which the  Rent and other charges have been paid in advance.

     

    
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    24.         CONDEMNATION

    24.1    If (a) all of the Leased Premises are taken by a public authority having the power of eminent domain by condemnation or conveyance in lieu of condemnation, or (b) so much of the Leased Premises or Common Areas is
      so taken and the remainder is insufficient in Landlord’s or Tenant’s opinion for the reasonable operation of Tenant’s business, then this Lease shall terminate as of the date the condemning authority takes possession.  If this Lease is not
      terminated, Landlord shall restore the Building and/or the Common Areas to a condition as near as reasonably possible to the condition prior to the taking, the Rent shall be abated for the period of time all or a part of the Leased Premises is
      untenantable in proportion to the square foot area untenantable, and this Lease shall be amended appropriately.  The compensation awarded for a taking shall belong to Landlord.  Except for any relocation benefits or any other benefits to which Tenant
      may be entitled, and which do not diminish Landlord’s claim, Tenant hereby assigns all claims against the condemning authority to Landlord, including, but not limited to, any claim relating to Tenant’s leasehold estate.

     

    25.         LANDLORD’S RIGHTS

    25.1    The rights and remedies given to the Landlord in this Lease are distinct, separate and cumulative remedies, and no one of them, whether or not exercised by the Landlord, shall be deemed to be in exclusion of any
      of the others.

     

    

    25.2    In addition to any other legal remedies for violation or breach of this  Lease by the Tenant or by anyone holding or claiming under the Tenant such violation or breach shall be restrainable by injunction at the
      suit of the Landlord.

     

    

    25.3    No receipt of money by the Landlord from any receiver, trustee or custodian or debtors in possession shall reinstate, or extend the term of this  Lease or affect any notice theretofore given to the Tenant, or to
      any such receiver, trustee, custodian or debtor in possession, or operate as a waiver or estoppel of the right of the Landlord to recover possession of the Leased Premises for any of the causes therein enumerated by any lawful remedy; and the failure
      of the Landlord to enforce any covenant or condition by reason of its breach by the Tenant shall not be deemed to void or affect the right of the Landlord to enforce the same covenant or condition on the occasion of any subsequent default or breach.

     

    
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    26.         QUIET ENJOYMENT

    The Landlord covenants that the Tenant, on paying the Rent and performing the covenants and conditions contained in this Lease, may peaceably and quietly have, hold and enjoy the Leased Premises for the Lease term.

     

    

    27.         SURRENDER OF PREMISES; HOLDOVER

    On the last day, or earlier permitted termination of the Lease, Tenant shall quit and surrender the Leased Premises in good and orderly condition and repair (reasonable wear and tear, and damage by fire or other casualty
      excepted) and shall deliver and surrender the Leased Premises to the Landlord peaceably, together with all Tenant Improvements. All data and communication wiring located within the walls or ceiling of the Leased Premises, whether installed by Tenant
      or Landlord, shall be surrendered and Tenant shall take no action to impair the then-existing condition thereof.  Landlord reserves the right, however, to require the Tenant at its cost and expense to remove any Alterations installed by the Tenant
      after the Commencement Date, and restore the Leased Premises to its original state, normal wear and tear excepted, subject to the other provisions of this Lease relating to Tenant Improvements and Alterations.  If items are to be removed during the
      Term of the Lease or at the expiration of the Lease, Tenant shall remove them in a manner reasonably acceptable to Landlord, and must repair any damage caused by such removal. Prior to the expiration of the Lease term the Tenant shall have the right
      to remove Tenant’s property identified on Schedule 27 if so desired, from the Leased Premises and shall repair all damage caused by such removal. Notwithstanding the foregoing, Tenant shall not remove any electrical, mechanical, plumbing, HVAC
      systems or components, or equipment that support any systems or improvements built into the Leased Premises, including casework (cabinets installed to the floors and/or walls), chemistry hoods ducted to exhaust and biological safety cabinets that are
      ducted to exhaust and shall leave any such systems or improvements in good working order less wear and tear. Tenant shall take no action to impair the then-existing condition thereof. Tenant shall have the right to remove all of its fixtures and
      equipment, provided any damages caused by such removal shall be repaired by Tenant.  Prior to Tenant’s occupancy of the Leased Premises, Landlord and Tenant will execute a mutually agreed-upon amendment to this agreement setting forth a list of
      equipment servicing the Building which is not related to the operation of Tenant’s business which Tenant shall not remove in the Leased Premises after the end of the lease term and which will become Landlord’s property.  Since systems and equipment
      will change over the Term, Landlord and Tenant, no later than three months prior to the termination of the Lease shall acting in good faith mutually agree upon the equipment and systems servicing the Building that will remain with the Leased Premises
      or must be removed by Tenant. All property not removed by Tenant shall be deemed abandoned by Tenant, and Landlord reserves the right to remove and dispose such property and charge the reasonable cost of such removal and disposal to the Tenant. If
      the Leased Premises are not surrendered at the end of the Lease term, it shall constitute a default under the Lease by Tenant, and in addition to any other remedy available to Landlord, the Tenant shall be liable for 125% of the then current Rent for
      the first two months or any portion thereof that Tenant remains in the Leased Premises and for 200% for any month or portion of any month Tenant remains in the Leased Premises thereafter.  These covenants shall survive the termination of the Lease. 
      The parties agree that, so long as no Event of Default then exists and is continuing, Tenant may, at any time, remove the clean room laboratory pods and other portions of Tenant’s Work related thereto (collectively, the “Pods”), provided, that, prior
      to the expiration of the Term (however arising), Tenant shall, at its expense, restore the approximately 25,000 square foot area designated on Schedule 3.1(c) as the Phase 2/3 Cleanrooms and the AES Area (the “Pods Area”) to a vanilla box state
      (which, for the avoidance of doubt, shall include the removal by Tenant of all structural lattices, ductwork, and HVAC and other piping, and remove all epoxy and restore an undamaged concrete slab floor).  Upon the occurrence of any Event of Default
      which is not cured within any applicable cure period, Landlord may, in addition to any other right or remedy herein, either (i) require Tenant to remove the Pods and restore the Pods Area to a vanilla box state as aforesaid, or (ii) require Tenant to
      transfer, assign and convey the Pods to Landlord (or its designee), free and clear of all liens, claims and encumbrances, in which event the Pods shall remain in the Leased Premises and shall be deemed the sole property of the Landlord (or its
      designee) (and Tenant shall cause the removal of any and all liens, claims and encumbrances thereon). Upon Tenant’s written request delivered no later than nine months prior to the then stated expiration date of the Term, Landlord may waive Tenant’s
      obligation to remove the Pods and restore the Pods Area, provided that any such waiver shall be in writing.

     

    

    
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    28.         INDEMNITY

    
      
        Anything in this Lease to the contrary notwithstanding, and without limiting the Tenant’s obligation to provide insurance hereunder, the Tenant covenants and agrees that it will indemnify, defend and save harmless
          the Landlord against and from all liabilities, obligations, damages, penalties, claims, costs, charges and expenses, including without limitation reasonable attorneys’ fees, which may be imposed upon or incurred by Landlord by reason of any of
          the following occurring during the term of this Lease:

         

        

      

    

    (a)      Any matter, cause or thing arising out of Tenant’s use, occupancy, control or management of the Leased Premises and any part thereof.

     

    

    (b)      Any gross negligence on the part of the Tenant or any of its agents, employees, licensees or invitees, arising in or about the Leased Premises.

     

    

    (c)      Any failure on the part of Tenant to perform or comply with any of its covenants, agreements, terms or conditions contained in this Lease.

     

    

    The foregoing indemnity shall survive termination or expiration of the Lease. Subject to the provisions of paragraph 19, the foregoing shall not require indemnity by Tenant in the event of damage or injury occasioned by
      the negligence or acts of commission or omission of the Landlord, its agents, servants, or employees or to the extent of any damages covered by insurance carried by Landlord.

     

    

    Landlord shall promptly notify Tenant of any such claim asserted against it and shall promptly send to Tenant copies of all papers or legal process served upon it in connection with any action or proceeding brought
      against Landlord.

     

    29.         BIND AND CONSTRUE CLAUSE

    The terms, covenants and conditions of this Lease shall be binding upon, and inure to the benefit of, each of the parties hereto and their respective heirs, successors, and assigns.   If any one of the provisions of this
      Lease shall be held to be invalid by a court of competent jurisdiction, such adjudication shall not affect the validity or enforceability of the remaining portions of this Lease.  The parties each acknowledge to the other that this Lease has been
      drafted by both parties, after consultation with their respective attorneys, and in the event of any dispute, the provisions are not to be interpreted against either party as the drafter of the Lease.

     

    

    30.         INCLUSIONS

    The neuter gender when used herein, shall include all persons and corporations, and words used in the singular shall include words in the plural where the text of the instrument so requires.

     

    
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    31.         DEFINITION OF TERM “LANDLORD”

    When the term “Landlord” is used in this Lease it shall be construed to mean and include only the entity which is the owner of title to the building.  Upon the transfer by the Landlord of the title, the Landlord shall
      advise the Tenant in writing by certified mail, return receipt requested, of the name of the Landlord’s transferee.  In such event, the Landlord shall be automatically freed and relieved from and after the date of such transfer of title of all
      personal liability with respect to the performance of any of the covenants and obligations on the part of the Landlord herein contained to be performed, provided any such transfer and conveyance by the Landlord is expressly subject to the assumption
      by the transferee of the obligations of the Landlord hereunder.

     

    32.         COVENANTS OF FURTHER ASSURANCES

    If, in connection with obtaining financing for the improvements on the Leased Premises, the mortgage lender shall request reasonable modifications in this  Lease as a condition to such financing, Tenant will not
      unreasonably withhold, delay or refuse its consent thereto, provided that such modifications do not in Tenant’s reasonable judgment increase the obligations of Tenant hereunder or materially adversely affect the leasehold interest hereby created or
      Tenant’s use and enjoyment of the Leased Premises.

     

    33.         COVENANT AGAINST LIENS; WAIVER OF LANDLORD LIEN

    Tenant agrees that it shall not encumber, or permit to be encumbered; the Leased Premises or the fee thereof by any lien, charge or encumbrance, and Tenant shall have no authority to mortgage or hypothecate this Lease in
      any way whatsoever.  Any violation of this Paragraph shall be considered a breach of this Lease. Tenant promptly shall pay for any labor, services, materials, supplies or equipment furnished to Tenant in or about the Leased Premises.  Tenant shall
      keep the Leased Premises and the Office Park free from any liens arising out of any labor, services, materials, supplies or equipment furnished or alleged to have been furnished to Tenant.  Tenant shall take all steps permitted by law in order to
      avoid the imposition of any such lien.  Should any such lien or notice of such lien be filed against the Leased Premises or the Office Park, Tenant shall discharge the same by bonding or otherwise, within 15 business days after Tenant has notice that
      the lien or claim is filed regardless of the validity of such lien or claim.  Landlord hereby waives the right to any Landlord’s lien, statutory or otherwise against any equipment, furniture and personal property owned by Tenant (“Tenant’s
      Property”).  Upon request by Tenant, unless there is an existing Event of Default, Landlord agrees to execute a separate agreement acknowledging the waiver of its right to a Landlord’s lien against Tenant’s Property.

     

    

    
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    34.         SUBORDINATION

    This Lease shall be subject and subordinate at all times to the lien of any mortgages or ground leases or other encumbrances now or hereafter placed on the land, Building and Leased Premises without the necessity of any
      further instrument or act on the part of Tenant to effectuate such subordination.  However, Tenant agrees to execute such further documents evidencing the subordination of the Lease to the lien of any mortgage or ground lease reasonably acceptable to
      Tenant, as shall be desired by Landlord within 5 business days.  However, any mortgagee may at any time subordinate its mortgage to this Lease, without Tenant’s consent, by giving written notice to Tenant, and this Lease shall then be deemed prior to
      such mortgage without regard to their respective dates of execution and delivery; provided that such subordination shall not affect any mortgagee’s rights with respect to condemnation awards, casualty insurance proceeds, intervening liens or any
      right which shall arise between the recording of such mortgage and the execution of this Lease. Landlord shall use reasonable efforts to cause any existing or future Lender with a lien against the Leased Premises to enter into a written
      subordination, non-disturbance and attornment agreement with Tenant on such lender’s standard form, whereby such lender agrees that, for so long as Tenant shall not be in default of its obligations hereunder, after the giving of required written
      notice and the expiration of applicable cure periods, such lender shall not disturb Tenant’s rights hereunder in the event of a foreclosure of its security interest in the Building, land or Leased Premises on such lender’s standard form.

    

    35.         EXCULPATION OF LANDLORD

    The word “Landlord” in this Lease includes the Landlord executing this Lease as well as its successors and assigns, each of which shall have the same rights, remedies, powers, authorities and privileges as it would have
      had it originally signed this Lease as Landlord.  Any such person or entity, whether or not named in this Lease, shall have no liability under this Lease after it ceases to hold title to the Leased Premises except for obligations already accrued
      (and, as to any unapplied portion of Tenant’s Security, Landlord shall be relieved of all liability upon transfer of such portion to its successor in interest).  Tenant shall look solely to Landlord’s successor in interest for the performance of the
      covenants and obligations of the Landlord hereunder which subsequently accrue.  Landlord shall not be deemed to be in default under this Lease unless Tenant gives Landlord written notice specifying the default and Landlord fails to cure the default
      within a reasonable period following Tenant’s notice.  In no event shall Landlord be liable to Tenant for any loss of business or profits of Tenant or for consequential, punitive or special damages of any kind.  Neither Landlord nor any principal of
      Landlord nor any owner of the Office Park, whether disclosed or undisclosed, shall have any personal liability with respect to any of the provisions of this Lease or the Leased Premises; Tenant shall look solely to the equity of Landlord in the
      Office Park for the satisfaction of any claim by Tenant against Landlord and no deficiency judgment or other judgment for money damages shall be entered by Tenant against Landlord.

     

    
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    36.         NET RENT

    It is the intent of the Landlord and Tenant that this Lease shall yield, net to Landlord, the Base Rent specified and all Additional Rent and charges in each month during the term of the Lease, and that all costs,
      expenses and obligations of every kind relating to the Leased Premises shall be paid by the Tenant, unless expressly assumed by the Landlord.  Nothing in this Section is intended to increase Tenant’s obligations as provided in the remainder of this
      Lease.

     

    

    37.         SECURITY

    Concurrent with its execution of this Lease, Tenant is depositing with Landlord the sum of $287,000.00 by check for the Initial Premises, subject to collection, as the security deposit under this Lease (the “Security”). 
      Landlord shall retain such amount as security for the faithful performance of all of the terms, covenants, and conditions of this Lease.  Landlord shall in no event be obligated to apply the Security to Rent in arrears or damages for Tenant’s
      default, although Landlord may so apply the Security, at its option.  Landlord’s right to bring a special proceeding to recover or otherwise obtain possession of the Leased Premises for non-payment of Rent or for any other reason shall not in any
      event be affected by reason of the fact that Landlord holds the Security.  The Security, if not applied toward the payment of Rent in arrears or toward the payment of damages suffered by Landlord by reason of Tenant’s default, shall be returned to
      Tenant without interest within thirty (30) days of the expiration of the Lease, or when this Lease is terminated, but in no event shall the Security be returned until Tenant has vacated the Leased Premises and delivered possession thereof to Landlord
      in accordance with the terms and provisions of this Lease, which shall be verified by a walk-through by Landlord within ten (10) days after the Leased Premises has been vacated to confirm that the Leased Premises are in the condition required to be
      at the expiration or termination of the Term.  If Landlord repossesses the Leased Premises, because of Tenant’s default, Landlord may apply the Security to damages suffered to the date of such repossession and may apply the Security to such damages
      as may be suffered or shall accrue thereafter by reason of Tenant’s default.  Except as otherwise required by the Laws, Landlord shall not be obligated to keep the Security as a separate fund and may commingle the Security with its own funds.  If
      Landlord applies the Security in whole or in part against damages incurred by reason of Tenant’s default, Tenant shall, upon demand by Landlord, deposit sufficient funds to replenish the Security to the original amount required hereunder.  Failure of
      Tenant to deposit such additional security within 30 days of Landlord’s demand therefore shall entitle Landlord to avail itself of the remedies provided in this Lease for nonpayment of Rent by Tenant.

     

    
      43

      
        

    

    38.         BROKERAGE

    The parties mutually represent to each other that Cushman and Wakefield of New Jersey LLC (the “Broker”) was the only broker involved in the introduction of Tenant to the Landlord and the Leased Premises, negotiation of
      the Lease Agreement, or consummation of the within transaction, that neither party dealt with any other broker in connection with the Lease, and that neither party will deal with any other broker in connection with this Lease in the future.  Landlord
      shall pay all commissions or other fees due to the Broker in connection with this Lease.  In the event that either party violates or is claimed by a third party to have violated this representation, it shall indemnify, defend, and hold the other
      party harmless from all claims and damages.

     

    

    39.         LATE CHARGES

    In addition to any other remedy, a late charge of 1 1/2% per month, retroactive to the date Rent was due, shall be due and payable, without notice from Landlord, on any portion of Rent or other charges not paid within 5
      business days of the due date.

     

    40.         PRESS RELEASES

    Landlord shall have the right to announce the execution of this Lease, and the real estate brokers involved in such press releases as Landlord shall deem advisable, provided that no press release shall identify the name
      of the Tenant.   All press releases are subject to Tenant’s prior review and written consent.

     

    

    
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    41.         WAIVER OF JURY TRIAL

    Landlord and Tenant both irrevocably waive a trial by jury in any action or proceeding between them or their successors or assigns arising out of this Lease or any of its provisions, or Tenant’s use or occupancy of the
      Leased Premises.

     

    42.         LAWS OF NEW JERSEY

    Without regard to principles of conflicts of laws, the validity, interpretation, performance and enforcement of this Lease shall be governed by and construed in accordance with the laws of the State of New Jersey. The
      sole and exclusive venue for any dispute between the parties shall be in Middlesex County, New Jersey.

     

    43.         RENEWAL

    Provided the Tenant is not in default hereunder, it has the right to renew the Lease two, five-year periods, to commence at the end of the initial or renewed term of this Lease.  The renewal shall be upon the same terms
      and conditions as contained in this Lease, including the Rent Escalation.  The option of the Tenant to renew this Lease is expressly conditioned upon the Tenant delivering to the Landlord a notice, in writing, by overnight delivery or certified mail,
      return receipt requested at least nine months prior to the date fixed for termination of the original Lease term or renewal term, as appropriate.

    

    44.         DELETED.

     

    45.         TENANT REPRESENTATION

    Tenant represents, warrants and covenants that neither Tenant nor any of its officers or directors (i) is listed on the Specially Designated Nationals and Blocked Persons List maintained by the Office of Foreign Asset
      Control, Department of the Treasury (“OFAC”) and all applicable provisions of Title III of the USA Patriot Act or any other publicly available list of terrorists, terrorist organizations or narcotics traffickers maintained by the United States
      Department of State, the United States Department of Commerce or any other governmental authority; (ii) is listed on the List of Terrorists and List of Disbarred parties maintained by the United State Department of State; or (iii) has been convicted,
      indicted, arraigned, pleaded no contest or been custodially detained on charges involving money laundering or predicate crimes to money laundering, drug trafficking, terrorist-related activities or other crimes or in connection with the Bank Secrecy
      Act.

     

    
      45

      
        

    

    46.         LANDLORD INDEMNIFICATION.

    Landlord hereby indemnifies, and shall pay, protect and hold Tenant harmless from and against all liabilities, losses, claims, demands, costs, expenses (including attorneys’ fees and expenses) and judgments of any
      nature, (except to the extent Tenant is compensated by insurance maintained by Tenant or Landlord under this Lease and except for such of the foregoing as arising from the negligence or willful misconduct of Tenant, its agents, servants or
      employees), arising, or alleged to arise, from or in connection with (i) any violation of any Legal Requirement or requirements of any insurance company insuring the Leased Premises, (ii) performance of any labor or services by Landlord or the
      furnishing of any materials or other property in respect of the Building by Landlord, (iii)  any breach or default in the performance of any obligation on Landlord’s part to be performed under the terms of this Lease, and (iv) any act or omission of
      Landlord, or any officer, agent or employee.  Landlord shall, at its sole cost and expense, defend any action, suit or proceeding brought against Tenant by reason of any such occurrence with independent counsel selected by Landlord and reasonably
      acceptable to Tenant.  The obligations of Landlord under this Section 46 will survive the expiration or earlier termination of this Lease.

     

    

    
      46

      
        

    

    IN WITNESS WHEREOF, the parties hereto have executed this document on the date first above written.

     

    

    	
            

            

          	LANDLORD:
	
            

            

          	CEDAR BROOK 12 CORPORATE CENTER, L.P.
	 	 

    	
            Date:

            

          	 	 	
            By:

          	 	 

    	
            

            

          	Name:
	
            

            

          	Title:

    

    

    	
            

            

          	
            TENANT:

          
	

          	
            ROCKET PHARMACEUTICALS, INC.

          
	 	 

    	
            Date:

            

          	 	 	
            By:

            

          	 	 

    	
            

            

          	
            Name:

          
	

          	
            Title:

          

     

    

    
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    EXHIBIT A

    SITE PLAN OF PROPERTY

    [***]

     

    
      48

      
        

    

    

    EXHIBIT B

    FLOOR PLAN OF LEASED PREMISES

    [***]

     

    

    
      49

      
        

    

    Schedule 3.1(b)

    [***]

     

    

    
      50

      
        

    

    Schedule 3.1(c)

    [***]

     

    

    
      51

      
        

    

    Schedule 27

    [***]

     

    

     

    

    
      52

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