Document:

EX-10.12

 Exhibit 10.12 

SIXTH EDITION 2012 (4) 
 DEED OF
LEASE 
 GENERAL address of the premises:  

All that land and buildings contained in Certificate of Title 264885 (North Auckland Registry), being Lot 4 Deposited Plan 365252 and known as 25 Levene
Place, Mt Wellington, Auckland 
 DATE: 8 March 2018 

LANDLORD: 
 Kawatiri Properties Limited (company number
654236) 
 TENANT: 
 Rocket Lab Limited (company
number 1835428) 
 THE LANDLORD leases to the Tenant and the Tenant takes on lease the premises and the car parks (if any) described in the First
Schedule together with the right to use the common areas of the property for the term from the commencement date and at the annual rent (subject to review if applicable) as set out in the First Schedule. 

THE LANDLORD AND TENANT covenant as set out in the First, Second and Third Schedules. 

 SIXTH EDITION 2012 (4) 

 

					
	SIGNED by the Landlord *	 		 	
	Kawatiri Properties Limited	 		 	
			
	in the presence of:	 		 	/s/ Diana Greenville Struthers
		 		 	Signature of Landlord
			
	/s/ Christopher Robert Darlow	 		 	Diana Grenville Struthers
	Witness Signature	 		 	 Print Full Name (for a company specify position:

Director/Attorney/Authorised Signatory)

			
	Christopher Robert Darlow	 		 	  

	Witness Name	 		 	
			
	Solicitor	 		 	/s/ John Bradley Struthers
	Witness Occupation	 		 	Signature of Landlord
			
	Auckland	 		 	John Bradley Struthers
	Witness Address	 		 	 Print Full Name
 (for a company specify
position:
 Director/Attorney/Authorised Signatory)

			
	SIGNED by the Tenant *	 		 	/s/ Peter Joseph Beck
	Rocket Lab Limited	 		 	Signature Tenant
			
	in the presence of:	 		 	Peter Joseph Beck
		 		 	 Print Full Name
 (for a company specify
position:
 Director/Attorney/Authorised Signatory)

			
	/s/ Shaun Keith O’Donnell	 		 	  

	Witness Signature	 		 	
			
	Shaun Keith O’Donnell	 		 	  

	Witness Name	 		 	
			
	VP	 		 	   

	Witness Occupation	 		 	Signature of Tenant
			
	69 Pine Street, Mt. Eden, Auckland	 		 	   

	Witness Address	 		 	 Print Full Name
 (for a company specify
position:
 Director/Attorney/Authorised Signatory)

  

	*	 If appropriate, add: 

“by its director(s)” OR “by its duty appointed attorney” 

 

	Note:	 Signing by a company – please refer to the note on page 

 SIXTH EDITION 2012 (4) 

 

	*	 If appropriate, add: 

“by its director(s)” OR “by its duly (appointed attorney” 

 

	Note:	 Signing by a company—to ensure that this document binds the company as a deed, it must be signed in
accordance with section 180 of the Companies Act 1993. 

	 	 If two directors sign, no witnessing Is necessary. 

	 	 If only one director or a director arid authorised signatory(ies) or attorney(ies) sign, signatures must be
witnessed. 

 SIXTH EDITION 2012 (4) 

 

 FIRST SCHEDULE 

 

									
	1.	  	PREMISES:	  	AU that land and buildings contained in Certificate of Title 264885 (North Auckland Registry), being Lot 4 Deposited Plan 365252 and known as 25 Levene Place, Mt Wellington, Auckland
			
	2.	  	CAR PARKS:	  	Included
			
	3.	  	TERM:	  	Six (6) years
			
	4.	  	COMMENCEMENT DATE:	  	1st day of May 2018
			
	5.	  	RIGHTS OF RENEWAL:	  	One (1) further right of renewal of four (4) years
			
	6.	  	RENEWAL DATES:	  	1 May 2024
			
	7.	  	FINAL EXPIRY DATE:	  	30 April 2028
					
	8	  	 Annual Rent :

(Subject to review if applicable)
	  	Premises	  	$1,205,055.00	  	plus GST
	  	Car Parks	  	$—  	  	plus GST
	  	TOTAL	  	$1,205,055.00	  	plus GST
					
	9.	  	MONTHLY RENT:	  		  	$100,421.25	  	plus GST
			
	10.	  	RENT PAYMENT DATES:	  	The 1st—day of each month commencing on the 1st day of May 2018
			
	11.	  	 RENT REVIEW DATES:

(Specify review type and insert dates for initial term, renewal dates and renewal terms. Unless dates are specified there will be no reviews.
Where there is a conflict in dates, the market rent review date will apply.)
	  	 1. Market rent review dates:

Renewal Date 1 May 2024
  

AND
  

2. Other rent review dates:
 See Further Terms clause 52 and
additional clauses 2.7 to 2.10 additions to the Second Schedule terms.

			
	12.	  	 DEFAULT INTEREST RATE:

(subclause 5.1)
	  	14 % per annum
			
	13.	  	 BUSINESS USE:

(subclause 16.1)
	  	Industrial or any use permitted under the relevant district plan

 SIXTH EDITION 2012 (4) 

 

									
	 14
	  	 LANDLORD’S INSURANCE:

(subclause 23.1)
 (Delete or amend
extent of cover as appropriate)
	  	 (1)   Cover for the building against damage and destruction by fire,
flood, explosion, lightning, storm, earthquake, and volcanic activity; on the following basis:
  

(a)   Full replacement and reinstatement (including loss damage or destruction of windows and other
glass);
  
 (2)   Cover for the
following additional risks:
  

(a)   (i) 12 months

indemnity in respect of consequential loss of rent and outgoings.
  

(b)   Loss damage or destruction of any of the Landlord’s fixtures fittings and chattels.

 
 (c)   Public
liability

			
	 15
	  	 NO ACCESS PERIOD:

(subclause 27.6)
 (Delete option
(1) and complete option (2) if required. If option (1) is not deleted and option
	  	 (1)   9 months

			
	 16
	  	 PROPORTION OF OUTGOINGS:

(subclause 3.1)
	  	100         % which at commencement fate is estimated to be $166,154.00                 Plus GST per
annum
					
	 18
	  	 OUTGOING

(clause 3)
	  		  		  	

  

	(1)	 Rates or levies payable to any local or territorial authority. 

	(2)	 Charges for water, gas, electricity, telecommunications and other utilities or services, including line
charges. 

	(3)	 Rubbish collection and recycling charges. 

	(4)	 New Zealand Fire Service charges and the maintenance charges in respect of all fire detection and fire fighting
equipment. 

	(5)	 Any insurance excess (but not exceeding $2,000) in respect of a claim and insurance premiums and related
valuation fees (subject to subclause 23.2). 

	(6)	 Service contract charges for air conditioning, lifts, other building services and security services.

	(7)	 Cleaning, maintenance and repair charges including charges for repainting, decorative repairs and the
maintenance and repair of building services to the extent that such charges do not comprise part of the cost of a service maintenance contract, but excluding charges for structural repairs to the building (minor repairs to the roof of the building
shall not be a structural repair), repairs due to defects in design or construction, inherent defects in the building and renewal or replacement of building services. 

	(8)	 The provisioning of toilets and other shared facilities. 

	(9)	 The cost of maintenance of lawns, gardens and planted areas including plant hire and replacement, and the cost
of repair of fences. 

	(10)	 Yard and car parking area maintenance and repair charges but excluding charges for repaving or resealing.

 SIXTH EDITION 2012 (4) 

 

	(11)	 Body Corporate charges for any insurance premiums under any insurance policy effected by the Body Corporate and
related valuation fees and reasonable management administration expenses. 

	(12)	 Management expenses (subject to subclause 3.7). 

	(13)	 The costs incurred and payable by the Landlord in supplying to the territorial authority a building warrant of
fitness and obtaining reports as required by sections 108 and 110 of the Building Act 2004 but excluding the costs of upgrading or other work to make the building comply with the Building Act 2004. 

 SIXTH EDITION 2012 (4) 

 

 SECOND SCHEDULE 

TENANT’S PAYMENTS 
 Rent 

 

	1.1	 The Tenant shall pay the annual rent by equal monthly payments in advance (or as varied pursuant to any rent
review) on the rent payment dates. The first monthly payment (together with rent calculated on a daily basis for any period from the commencement date of the term to the first rent payment date) shall be payable on the first rent payment date. All
rent shall be paid without any deductions or set-off by direct payment to the Landlord or as the Landlord may direct. 

Market Rent Review 
  

	2.1	 The annual rent payable as from each market rent review date (except for a market rent review date that is a
renewal date) shall be determined as follows: 

  

	 	(a)	 Either party may not earlier than 3 months prior to a market rent review date and not later than the next rent
review date (regardless of whether the next rent review date is a market or CPI rent review date) give written notice to the other party specifying the annual rent proposed as the current market rent as at the relevant market rent review date.

  

	 	(b)	 If the party receiving the notice (“the Recipient”) gives written notice to the party giving the
notice (“the Initiator) within 20 working days after service of the Initiator’s notice disputing the annual rent proposed and specifying the annual rent proposed by the Recipient as the current market rent, then the new rent shall be
determined in accordance with subclause 2.2. 

  

	 	(c)	 If the Recipient fails to give such notice (time being of the essence) the Recipient shall be deemed to have
accepted the annual rent specified in the Initiator’s notice and the extension of time for commencing arbitration proceedings contained in the Arbitration Act 1996 shall not apply. 

 

	 	(d)	 Notwithstanding any other provision of this clause, the annual rent payable as from the relevant market rent
review date shall not be less than the annual rent payable for the 12 months immediately receding the relevant rent review date. 

  

	 	(e)	 The annual rent agreed, determined or imposed pursuant to subclause 2.1 shall be the annual rent payable as
from the relevant market rent review date, or the date of service of the Initiator’s notice if such notice is served later than 3 months after the relevant market rent review date but subject to subclause 2.3 and 2.4. 

 

	 	(f)	 The market rent review at the option of either party may be recorded in a deed. 

Rent Determinations 
  

	2.2	 Immediately following service of the Recipient’s notice on the Initiator, the parties shall
endeavour to agree upon the current market rent, but if agreement is not reached within 10 working days then the new rent may be determined either 

  

	 	(a)	 By one party giving written notice to the other requiring the new rent to be determined by arbitration; or

 SIXTH EDITION 2012 (4) 

 

	 	(b)	 If the parties so agree by registered valuers acting as Experts and not as arbitrators as follows:

  

	 	(1)	 Each party shall appoint a valuer and give written notice of the appointment to the other party within 20
working days of the parties agreeing to so determine the new rent. ‘ 

  

	 	(2)	 If the party receiving a notice fails to appoint a valuer within the 20 working day period then the valuer
appointed by the other party shall determine the new rent arid such determination shall be binding on both parties. 

  

	 	(3)	 The valuers appointed before commencing their, determination shrill appoint a third expert who need not be a
registered valuer. If the parties cannot agree on the third expert, the appointment shall be made on the application of either party by the president or vice president for the time being of The New Zealand Institute of Valuers.

  

	 	(4)	 The valuers appointed by the parties shall determine the current: market rent of the premises but if they fail
to agree then the rent shall be determined by the third expert. 

  

	 	(5)	 Each party shall be given the opportunity to make .written or oral representations subject to such reasonable
time and other limits as the valuers or the third expert may prescribe and they shall have regard to any of the representations but not be bound by them. 

  

	 	(6)	 The parties shall jointly and severalty indemnify the third expert for their costs. As between the parties,
they will share the costs equally. A party may pay the other party’s share of the costs and recover the payment on demand from the other party. 

  

	 	(7)	 If the parties agree, they may release the third expert from liability for negligence in acting as third expert
in accordance with this subclause 2.2. 

 When the new rent has been determined the person or persons determining it shall
give written notice of it to the parties. The notice shall provide as to how the costs of the determination shall be borne and it shall be binding on the parties. 

Interim Market Rent 
  

	2.3	 Pending determination of the new rent, the Tenant shall from the relevant market rent review date, or
the date of service of the Initiator’s notice if the notice is served later than 3 months after the relevant market rent review date, until the determination of the new rent pay an interim rent as follows: 

 

	 	(a)	 if both parties supply a registered valuer’s certificate substantiating the new rents proposed, the
interim rent payable shall be half way between the new rents proposed by the parties; or 

  

	 	(b)	 if only one party supplies a registered valuer’s certificate, the interim rent payable shall be the rent
substantiated by the certificate; or 

  

	 	(c)	 if no registered valuer’s certificates are supplied, the interim rent payable shall be the rent payable
immediately prior to the relevant market rent review date, but in no circumstances shall the interim rent be less than the rent payable for the 12 months immediately preceding the relevant rent review date. 

 SIXTH EDITION 2012 (4) 

 

 The interim rent shall be payable with effect from the relevant market rent review date, or
the date of service of the Initiator’s notice if the notice is served later than 3 months after the relevant market rent review date and, subject to subclause 2.4, shall not be subject to adjustment. 

 

	2.4	 Upon determination of the new rent, any overpayment shall be applied in payment of the next month’s
rent and any amount then remaining shall immediately be refunded to the Tenant. Any shortfall in payment shall immediately be payable by the Tenant. 

Outgoings 
  

	3.1	 The Tenant shall pay the outgoings properly and reasonably incurred in respect of the property which are
specified in the First Schedule. Where any outgoing is not separately assessed or levied in respect of the premises then the Tenant shall pay such proportion of it as is specified in the First Schedule or if no proportion is specified then such fair
proportion as shall be agreed or failing agreement determined by arbitration. 

  

	3.2	 The Landlord shall vary the proportion of any outgoing payable to ensure that the Tenant pays a fair
proportion of the outgoing. 

  

	3.3	 If any outgoing is rendered necessary by another tenant of the property or that tenant’s employees,
contractors or invitees causing damage to the property or by another tenant failing to comply with that tenant’s leasing obligations, then that outgoing shall not be payable by the Tenant. 

 

	3.4	 The outgoings shall be apportioned between the Landlord and toe Tenant in respect of periods current at
the commencement and termination of the term. 

  

	3.5	 The outgoings shall be payable on demand or if required by the Landlord by monthly instalments on each
rent payment date of a reasonable amount as the Landlord shall determine calculated on an annual basis.* Where any outgoing has not been taken into account in determining the monthly instalments it shall be payable on demand. 

 

	3.6	 After the 31st March in each year of the term or other date in each year as the Landlord may specify,
and after the end of the term, the Landlord shall supply to the Tenant reasonable details of the actual outgoings for the year or period then ended. Any over payment shall be credited or refunded to the Tenant and any deficiency shall be payable to
the Landlord on demand. 

  

	3.7	 Any profit derived by the Landlord and if a company by its shareholders either directly or indirectly
from the management of the property shall not comprise part of the management expenses payable as an outgoing. 

 Goods and Services
Tax 
  

	4.1	 The Tenant shall pay to the Landlord or as the Landlord shall direct the GST payable by the Landlord in
respect of the rental and other payments payable by the Tenant under this lease. The GST in respect of the rental shall be payable on each occasion when any rental payment falls due for payment and in respect of any other payment shall be payable
upon demand. 

  

	4.2	 If the Tenant shall make default in payment of the rental or other moneys payable under this lease and
the Landlord becomes liable to pay Default GST then the Tenant shall on demand pay to the Landlord the Default GST in addition to interest payable on the unpaid GST under subclause 5.1. 

 SIXTH EDITION 2012 (4) 

 

 Interest on Unpaid Money 
  

	5.1	 If the Tenant defaults in payment of the rent or other moneys payable under this lease for 10 working
days then the Tenant shall pay on demand interest at the default interest rate on the moneys unpaid from the due date for payment to the date of payment. 

  

	5.2	 Unless a contrary intention appears on the front page or elsewhere in this lease the default interest
rate is equivalent to the interest rate charged by the Inland Revenue Department on unpaid tax under the Tax Administration Act 1994 during the period for which the default interest is payable, plus 5 per cent per annum. 

Costs 
  

	6.1	 Each party will pay their own costs of the negotiation and preparation of this lease and any deed
recording a rent review or renewal. The Tenant shall pay the Landlord’s reasonable costs incurred in considering any request by the Tenant for the Landlord’s consent to any matter contemplated by this lease, and the Landlord’s legal
costs (as between lawyer and client) of and incidental to the enforcement of the Landlord’s rights remedies and powers under this lease. 

LANDLORD’S PAYMENTS 
 Outgoings 

 

	7.1	 Subject to the Tenant’s compliance with the provisions of clause 3 the Landlord shall pay all
outgoings in respect of the property not payable by the Tenant direct. The Landlord shall be under no obligation to minimise any liability by paying any outgoing or tax prior to receiving payment from the Tenant. 

MAINTENANCE AND CARE OF PREMISES 
 Tenant’s
Obligations 
  

	8.1	 The Tenant shall be responsible to: 

 

	 	(a)	 Maintain the premises 

In a proper and workmanlike manner and to the reasonable requirements of the Landlord keep and maintain the interior of the premises in the
same clean order repair and condition as they were in at the commencement date of this lease (or where the lease is renewed, the commencement date of the initial term of this lease) and will at the end or earlier determination of the term quietly
yield up the same in the like clean order repair and condition. The premises condition report (if completed) shall be evidence of the condition of the premises at the commencement date of this lease. In each case the Tenant shall not be liable for
fair wear and tear arising from reasonable use. 
  

	 	(b)	 Breakages and minor replacements Repair or replace glass breakages with glass of the same or better
weight and quality, repair breakage or damage to all doors windows light fittings and power points of the premises and replace light bulbs, tubes and power points that wear out with items of the same or better quality and specification.

  

	 	(c)	 Painting Paint and decorate those parts of the interior of the premises which have previously been
painted and decorated as at the commencement date of this lease (or where the lease is renewed the commencement date of the initial term of this lease) when they reasonably require repainting and redecoration to a specification as approved by the
Landlord such approval not to be unreasonably withheld. 

 SIXTH EDITION 2012 (4) 

 

	 	(d)	 Floor coverings Keep all floor coverings in the premises clean and replace all floor coverings worn or
damaged other than by fair wear and tear with floor coverings of the same or better quality, specification and appearance when reasonably required by the Landlord. 

 

	 	(e)	 Damage or Loss Make good any damage to the property or loss caused by improper careless or abnormal use
by the Tenant or those for whom the Tenant is responsible, to the Landlord’s reasonable requirements. 

  

	8.2	 Where the Tenant is leasing all of the property, the Tenant shall: 

 

	 	(a)	 Care of grounds 

Keep any grounds yards and surfaced areas in a dean and tidy condition and maintain any garden or lawn areas in a tidy and cared for
condition. 
  

	 	(b)	 Water and drainage 

Keep and maintain the storm or waste water drainage system including downpipes and guttering dear and unobstructed. 

 

	 	(c)	 Other works 

Carry out those works maintenance and repairs Tri the property as the Landlord may require in respect of which outgoings are payable by the
Tenant. 
  

	8.3	 Notwithstanding subclause 8.1(a) the Tenant shall not be liable for the. maintenance or repair of any
building services but this subclause shall not release the Tenant from any obligation to pay for the cost of any service maintenance contract or charges in respect of the maintenance or repair of the building services if it is an outgoing specified
in the First Schedule but only to the extent specified in the First Schedule. 

  

	8.4	 Notwithstanding any other provision of this lease, the Tenant shall not be liable to repair any inherent
defect in the premises nor to pay any outgoings incurred by the Landlord in remedying any inherent defect. 

  

	8.5	 If the Landlord shall give the Tenant written notice of any failure on the part of the Tenant to comply
with any of the requirements of subclauses 8.1 or 8.2 the Tenant shall with all reasonable speed so comply. 

 Toilets 

 

	9.1	 The toilets sinks and drains shall be used for their designed purposes only and no substance or matter
shall be deposited in them which could damage or block them. 

 Rubbish Removal 

 

	10.1	 The Tenant shall regularly cause all of the Tenant’s rubbish and recycling to be removed from the
premises and will keep the Tenant’s rubbish bins or containers in a tidy condition. The Tenant will also at the Tenant’s own expense cause to be removed all trade waste boxes and other goods or rubbish not removable in the ordinary course
by the local authority. 

 SIXTH EDITION 2012 (4) 

 

 Landlord’s Maintenance 
  

	11.1	 The Landlord shall keep and maintain the building, all building services and the car parks in good order
and repair and weatherproof but the Landlord shall not be liable for any: 

  

	 	(a)	 Repair or maintenance which the Tenant is responsible to undertake. 

 

	 	(b)	 Want of repair or defect in respect of building services, so long as the Landlord is maintaining a service
maintenance contract covering the work to be done, or where the building services have not been supplied by the Landlord. 

  

	 	(c)	 Repair or maintenance which is not reasonably necessary for the Tenant’s use and enjoyment of the premises
and the car parks. 

  

	 	(d)	 Loss suffered by the Tenant arising from any want of repair or defect unless the Landlord shall have received
notice in writing of that from the Tenant and has not within a reasonable time after that taken appropriate steps to remedy the same. 

  

	11.2	 The Landlord shall keep and maintain service maintenance contracts for lilts, air-conditioning and at the Landlord’s option any other building services supplied by the Landlord. Whenever building services cannot be maintained in good order and repair through regular maintenance, the
Landlord will if reasonably required replace the services with services of a similar type and quality. 

  

	11.3	 The Tenant shall be liable to reimburse the Landlord for the cost of any such repair, maintenance or
service contract pursuant to subclauses 11.1 and 11 2 if it is an outgoing specified in the First Schedule but only to the extent specified in the First Schedule. 

Notification of Defects 
  

	12.1	 The Tenant shall give to the Landlord prompt written notice of any accident to or defect in the premises
of which the Tenant may be aware and in particular in relation to any pipes or fittings used in connection with the water electrical gas or drainage services. 

Landlord’s Right of Inspection 
  

	13.1	 The Landlord and the Landlord’s employees contractors and invitees may at all reasonable times and
after having given prior written notice to the Tenant (except in the case of emergencies) enter upon the premises to view their condition. 

Landlord may Repair 
  

	14.1	 If default shall be made by the Tenant in the due and punctual compliance with any repair notice given
by the Landlord pursuant to this lease, or if any repairs for which the Tenant is responsible require to be undertaken as a matter of urgency then without prejudice to the Landlord’s other rights and remedies expressed or implied the Landlord
may by the Landlord’s employees and contractors with all necessary equipment and material at all reasonable times and on reasonable notice (except in the case of emergencies) enter the premises to execute the works. Any moneys expended by the
Landlord in executing the works shall be payable by the Tenant to the Landlord upon demand together with interest on the moneys expended at the default interest rate from the date of expenditure to the date of payment. 

 SIXTH EDITION 2012 (4) 

 

 Access for Works 
  

	15.1	 The Tenant shall permit the Landlord and the Landlord’s employees and contractors at all reasonable
times and on reasonable written notice (except in the case of emergencies) to enter the premises for a reasonable period to inspect and carry out works to the premises or adjacent premises and to install inspect repair renew or replace any services
where they are not the responsibility of the Tenant or are required to comply with the requirements of any statutes, regulations, by-law or requirement of any competent authority. All repairs inspections and
works shall be carried out with the least possible inconvenience to the Tenant subject to subclauses 15.3 and 15.4. 

  

	15.2	 If the Tenant’s business use of the premises is materially disrupted because of the Landlord’s
works provided for in subclause 15.1, then during the period the works are being canted out a fair proportion of the rent and outgoings shall cease to be payable but without prejudice to the Tenant’s rights if the disruption is due to a breach
by the Landlord of the Landlord’s obligation, under subclause 15.1, to cause the least possible inconvenience to the Tenant. 

  

	15.3	 If in the Landlord’s reasonable opinion, the Landlord requires the Tenant to vacate the whole or
part of the premises to enable the works referred to in subclause 15.1 to be carried out, the Landlord may give the Tenant reasonable written notice requiring the Tenant to vacate the whole or part of the premises and specifying a reasonable period
for which the Landlord requires possession. On the expiry of the notice the Landlord may take possession of the premises ex’ the part specified in the notice. A fair proportion of the rent and outgoings shall cease to be payable during the
period the Tenant vacates the premises as required by the Landlord. 

  

	15.4	 The Landlord shall act in good faith and have regard to the nature, extent and urgency of the works when
exercising the Landlord’s right of access or possession in accordance with subclauses 15.1 and 15.3. 

 USE OF PREMISES 

Business Use 
  

	16.1	 The Tenant shall not without the prior written consent of the Landlord use or permit the whole or any
part of the premises to be used for any use other than the business use. The Landlord’s consent shall not be unreasonably or arbitrarily withheld or delayed in respect of any proposed use which is: 

 

	 	(a)	 not in substantial competition with the business of any other occupant of the property which might be affected
by the use; and 

  

	 	(b)	 reasonably suitable for the premises; and 

 

	 	(c)	 compliant with the requirements of the Resource Management Act 1991 .or any other statutory provisions
relating to resource management. 

 If any change in use renders any increased or extra premium payable in respect of any
policy or policies of insurance on the premises the Landlord as a condition of granting consent may require the Tenant to pay the increased or extra premium. 
  

	16.2	 If any change in use requires compliance with sections 114 and 115 of the Building Act 2004 the
Landlord, as a condition of granting consent, may require the Tenant to comply with sections 114 arid 115 of the Act and to pay all compliance costs. 

 SIXTH EDITION 2012 (4) 

 

	16.3	 If the premises are a retail shop the Tenant shall keep the premises open for business during usual
trading hours and fully stocked with appropriate merchandise for the efficient conduct of the Tenant’s business. 

 Lease of
Premises and Car Parks Only 
  

	17.1	 The tenancy shall relate only to the premises and the car parks (if any) and the Landlord shall at all
times be entitled to use occupy and deal with the remainder of the property without reference to the Tenant and the Tenant shall have no rights in relation to it other than the rights of use under this lease. 

Neglect of Other Tenant 
  

	18.1	 The Landlord shall not be responsible to the Tenant for any act or default or neglect of any other
tenant of the property. 

 Signage 
  

	19.1	 The Tenant shall not affix paint or exhibit or permit to be affixed painted or exhibited any name sign
name-plate signboard or advertisement of any description on or to the exterior of the building without the prior approval in writing of the Landlord but approval shall not be unreasonably or arbitrarily withheld or delayed in respect of signage
describing the Tenant’s business. If approved the signage shall be secured in a substantial and proper manner so as not to cause any damage to the building or any person and tire Tenant shall at the end or sooner determination of the term
remove the signage and make good any damage occasioned in connection with the signage. 

 Additions, Alterations, Reinstatement and
Chattels Removal 
  

	20.1	 The Tenant shall neither make nor allow to be made any alterations or additions to any part of the
premises or alter the external appearance of the building without first producing to the Landlord on every occasion plans and specifications and obtaining the written consent of the Landlord (not to be unreasonably or arbitrarily withheld or
delayed) for that purpose. If the Landlord authorises any alterations or additions which are made before the commencement date or during the term of this lease the Tenant will at the Tenant’s own expense if required by the Landlord no later
than the end or earlier termination of the term reinstate the premises. Ownership of the alterations or additions that are not removed by the end or earlier termination of the lease may at the Landlord’s election pass to the Landlord without
compensation payable to the Tenant. If the Tenant fails to reinstate then any costs incurred by the Landlord in reinstating the premises whether in whole or in part, within 6 months of the end or earlier termination of the term shall be recoverable
from the Tenant. 

  

	20.2	 The Tenant, when undertaking any “building work* to the premises (as that term is defined in the
Building Act 2004), shall comply with all statutory requirements including the obtaining of building consents and code compliance certificates pursuant to that Act and shall provide copies of the building consents and code compliance certificates to
the Landlord. 

  

	20.3	 The Tenant may at any time before and will if required by the Landlord no later than the end or earlier
termination of the term remove all the Tenants chattels. In addition to the Tenant’s obligations to reinstate the premises pursuant to subclause 20.1 the Tenant will make good at the Tenants own expense all resulting damage and if the chattels
are not removed by the end or earlier termination of the term ownership of the chattels may at the Landlord’s election pass to the Landlord or the Landlord may remove them from the premises and forward them to a refuse collection centre. Where
subclause 27.5 applies, the time by which the Tenant must remove the chattels and to make good all resulting damage will be extended to 5 working days after access to the premises is available. 

 SIXTH EDITION 2012 (4) 

 

	20.4	 The cost of making good resulting damage and the cost of removal of the Tenant’s chattels shall be
recoverable from the Tenant and the Landlord shall not be liable to pay any compensation nor be liable for any loss suffered by the Tenant. 

Compliance with Statutes and Regulations 
  

	21.1	 The Tenant shall comply with the provisions of all statutes, ordinances, regulations and by-laws relating to the use of the premises by the Tenant or other occupant and will also comply with the provisions of all licenses, requisitions and notices issued by any competent authority in respect of the
premises or their use by the Tenant or other occupant provided that: 

  

	 	(a)	 The Tenant shall not be required to make any structural repairs alterations or additions nor to replace
or install any plant or equipment except where required by reason of the particular nature of the business canted on by the Tenant or other occupant of the premises or the number or sex of persons employed on the premises. 

 

	 	(b)	 The Tenant shall not be liable to discharge the Landlord’s obligations as owner under the Building Act
2004 unless any particular obligation is the responsibility of the Tenant as an occupier of the premises. 

  

	 	(c)	 The Tenant will promptly provide the Landlord with a copy of all requisitions and notices received from a
competent authority under this subclause. 

  

	21.2	 If the Landlord is obliged by any legislation or requirement of any competent authority to expend moneys
during the term of this lease or any renewed term on any improvement addition or alteration to the property which is not the Tenant’s responsibility under subclause 21.1 and the expenditure would be an unreasonable amount then the Landlord may
determine this lease. Any dispute as to whether or not the amount to be expended by the Landlord is unreasonable shall be determined by arbitration. 

  

	21.3	 The Landlord warrants that allowing the premises to be open to members of the public and allowing the
use of the premises by members of the public at the commencement date will not be a breach of section 363 of the Building Act 2004. This clause does not apply to any “building work” (as defined in the Building Ad 2004) relating to the fit-out of the premises by the Tenant. 

  

	21.4	 The Tenant,, when undertaking any building work to the premises, shall comply with all statutory
requirements including the obtaining of building consents and code compliance certificates and shall not allow the premises to be open to members of the public or allow use of the premises by members of the public if that would be in breach of
section 363 of the Building Ad 2004. 

  

	21.5	 During the term and any renewal, the Landlord shall not give consent to or cany out any building work in
any part of the Landlord’s property which may cause the Tenant to be in bread) of section 363 of the Building Ad 2004 by allowing the premises to be open to members of the public and allowing the use of the premises by members of the public.

 No Noxious Use 
  

	22.1	 The Tenant shall not: 

 

	 	(a)	 Bring upon or store within the premises nor allow to be brought upon or stored within the premises any
machinery goods or things of an offensive noxious illegal dangerous nature, or of a weight size or shape as is likely to cause damage to the building or any surfaced area. 

 SIXTH EDITION 2012 (4) 

 

	 	(b)	 Contaminate the property and shall undertake all works necessary to remove any contamination of the property
other than contamination not caused by the Tenant or which took place prior, to the commencement date of the lease term. Contamination means any change to the physical chemical or biological condition of the property by a “contaminant” as
that word is defined in the Resource Management Act 1991. 

  

	 	(c)	 Use the premises or allow them to be used for any noisome noxious illegal or offensive trade or business.

  

	 	(d)	 Allow any ad or thing to be done which may be or grow to be a nuisance disturbance or annoyance to the
Landlord, other tenants of the property, or any other persons arid generally the Tenant shall concluded the Tenant’s business upon the premises in a dean quiet and orderly manner free from damage nuisance disturbance or annoyance to any such
persons but the carrying on by the Tenant in a reasonable manner of the business use or any use to which the Landlord has consented shall be deemed not to be a breach of this clause. 

INSURANCE 
 Landlord shall insure 

 

	23.1	 The Landlord shall at all times during the term keep and maintain insurance of the type shown and for the risks
specified in the First Schedule. If insurance cover required under this subclause becomes unavailable during the term of this lease or any renewal other than because of the Landlord’s ad or omission, the Landlord will not be in breach while
cover is unavailable, provided the Landlord uses all reasonable endeavors on an ongoing basis to obtain cover. The Landlord will advise the Tenant in writing whenever cover becomes unavailable and provide reasons as to the unavailability. The
Landlord will also provide the Tenant with reasonable information relating to the cover when requested by the Tenant. 

  

	23.2	 The parties acknowledge and agree pursuant to section 271 of the Property Law Ad 2007 that to the extent
of any excess payable regarding any insurance policy held by the Landlord, the excess will represent an amount for which the Landlord has not insured, or has not fully insured the premises or the property against destruction or damage arising from
the events that the section applies to. If the Landlord makes any claim against its insurance for any destruction or damage because of any ad or omission of the Tenant the Tenant will pay the Landlord the amount of the excess not exceeding the sum
specified in the list of outgoings in the First Schedule Tenant not to void insurance 

  

	24.1	 The Tenant shall not cany on or allow upon the premises any trade or occupation or allow to be done any
ad or thing which: 

  

	 	(a)	 Shall make void or voidable any policy of insurance on the property. 

 

	 	(b)	 May render any increased or extra premium payable for any policy of insurance except where in circumstances in
which any increased premium is payable the Tenant shall have first obtained the consent of the insurer of the premises and the Landlord and made payment to the insurer of the amount of any such increased or extra premium as may be payable but the
carrying on by the Tenant in a reasonable manner of the business use or of any use to which the Landlord has consented shall be deemed not to be a breach of this clause. 

 

	24.2	 In any case where in breach of subclause 24.1 the Tenant has rendered any insurance void or voidable and
the Landlord has suffered loss or damage by that the Tenant shall at once compensate the Landlord in full for such loss or damage. 

 SIXTH EDITION 2012 (4) 

 

 When Tenant to have benefit of Landlord’s insurance 

 

	25.1	 Where the property is destroyed or damaged by fire, flood, explosion, lightning, storm, earthquake,
volcanic activity or any risk against which the Landlord is (or has covenanted with the Tenant to be) insured the Landlord will not require the Tenant to meet the cost of making good the destruction or damage to the property and will indemnify the
Tenant against such cost where the Tenant is obligated to pay for making good such damage or destruction. The Landlord does not have to indemnify the Tenant and the Tenant will not be excused from liability under this subclause if and to the extent
that: 

  

	 	(a)	 The destruction or damage was intentionally caused by the Tenant or those for whom the Tenant is responsible;
or 

  

	 	(b)	 The destruction or damage was the result of an ad or omission by the Tenant or those for whom the Tenant is
responsible and that ad or omission: 

  

	 	(1)	 occurred on or about the property; and 

 

	 	(2)	 constitutes an imprisonable offence; or 

 

	 	(c)	 Any insurance moneys that would otherwise have been payable to the Landlord for the damage or distraction are
rendered irrecoverable in consequence of any act or omission of the Tenant or those for whom the Tenant is responsible. 

 DAMAGE TO OR
DESTRUCTION OF PREMISES 
 Total Destruction 
  

	26.1	 If the premises or any portion of the building of which the premises may form part shall be destroyed or
so damaged: 

  

	 	(a)	 as to render the premises untenantable then the term shall at once terminate from the date of destruction or
damage; or 

  

	 	(b)	 in the reasonable opinion of the Landlord as to require demolition or reconstruction, then the Landlord may
within 3 months of the date of damage give the Tenant 20 working days notice to terminate and a fair proportion of the rent and outgoings shall cease to be payable as from the date of damage. 

Any termination pursuant to this subclause shall be without prejudice to the rights of either party against the other. 

Partial Destruction 
  

	27.1	 If the premises or any portion of the building of which the premises may form part shall be damaged but
not so as to render the premises untenantable and: 

  

	 	(a)	 the Landlord’s policy or policies of insurance shall not have been invalidated or payment of the policy
moneys refused in consequence of some ad or default of the Tenant, and 

  

	 	(b)	 all the necessary permits and consents are obtainable, 

the Landlord shall with all reasonable speed expend all the insurance moneys received by the Landlord in respect of such damage towards
repairing such damage or reinstating the premises or the building but the Landlord shall not be liable to expend any sum of money greater than the amount of the insurance money received. 

 SIXTH EDITION 2012 (4) 

 

	27.2	 Any repair or reinstatement may be carried out by the Landlord using such materials and form of
constructed and according to such plan as the Landlord thinks fit and shall be sufficient so long as it is reasonably adequate for the Tenant’s occupation and use of the premises. 

 

	27.3	 Until the completion of the repairs or reinstatement a fair proportion of the rent told outgoings shall
cease to be payable as from the date of damage. 

  

	27.4	 If any necessary permit or consent shall not be obtainable or the insurance moneys received by the
Landlord shall be inadequate for the repair or reinstatement then the term shall at once terminate but without prejudice to the rights of either party against the other. 

No Access in Emergency 
  

	27.5	 If there is an emergency and the Tenant is unable to gain access to the premises to fully concluded the
Tenant’s business from the premises because of reasons of safety of the public or property or the need to prevent reduce or overcome any hazard, harm or loss that may be associated with the emergency including: 

 

	 	(a)	 a prohibited or restricted access cordon applying to the premises; or 

 

	 	(b)	 prohibition on the use of the premises pending the completion of structural engineering or other reports
and appropriate certifications required by any competent authority that the premises are fitter use; or 

  

	 	(c)	 restriction on occupation of the premises by any competent authority, then a fair proportion of the rent and
outgoings shall cease to be payable for the period commencing on the date when the Tenant became unable to gain access to the premises to fully concluded the Tenant’s business from the premises until the inability ceases. 

 

	27.6	 This subclause 27.6 applies where subclause 27.5 applies and the premises or building of which the
premises form part are not totally or partially destroyed or damaged resulting in the lease being cancelled as provided for in subclauses 26.1 or 27.4. Either party may terminate this lease by giving 10 working days written notice to the other it

  

	 	(a)	 the Tenant is unable to gain access to the premises for the period specified in the First Schedule; or

  

	 	(b)	 the party that terminates this lease can at any time prior to termination establish with reasonable certainty
that the Tenant is unable to gain access to the premises for that period. 

 Any termination shall be without prejudice to
the rights of either party against the other. 
 DEFAULT 

Cancellation 
  

	28.1	 The Landlord may (in addition to the Landlord’s right to apply to the Court for an order for
possession) and subjected to section 245(2) of the Property Law Ad 2007 cancel this lease by re-entering the premises at the time or at any time alter that: 

 SIXTH EDITION 2012 (4) 

 

	 	(a)	 If the rent shall be in arrears 10 working days after any rent payment date and the Tenant has failed to remedy
that breach within 10 working days after service on the Tenant of a notice in accordance with section 245 of the Property Law Ad 2007. 

  

	 	(b)	 In case of breach by the Tenant of any covenant or agreement on the Tenant’s part expressed or implied in
this lease (other than the covenant to pay rent) after the Tenant has failed to remedy that breach within the period specified in a notice served on the Tenant in accordance with section 246 of the Property Law Ad 2007. 

 

	 	(c)	 If the Tenant shall make or enter into or endeavour to make or enter into any composition assignment or other
arrangement with or for the benefit of the Tenant’s creditors. 

  

	 	(d)	 In the event of the insolvency, bankruptcy, statutory management, voluntary administration, receivership or
liquidation of the Tenant. 

  

	 	(e)	 If the Tenant shall suffer execution to issue against the Tenant’s property goods or effects under
any judgment against the Tenant in any Court for a sum in excess of five thousand dollars ($5,000). 

 The term shall
terminate on the cancellation but without prejudice to the rights of either party against the other. 
 Essentiality of Payments 

 

	29.1	 Failure to pay rent or other moneys payable under this lease on the due date shall be a breach going to
the essence of the Tenant’s obligations under the lease. The Tenant shall compensate the Landlord and the Landlord shall be entitled to recover damages from the Tenant for such breach. This entitlement shall subsist notwithstanding any
determination of the lease and shall be in addition to any other right or remedy which the Landlord may have. 

  

	29.2	 The acceptance by the Landlord of arrears of rent or other moneys shall not constitute a waiver of the
essentiality of the Tenant’s continuing obligation to pay rent and other moneys. 

 Repudiation 

 

	30.1	 The Tenant shall compensate the Landlord and the Landlord shall be entitled to recover damages for any
loss or damage suffered by reason of any acts or omissions of the Tenant constituting a repudiation of the lease or the Tenant’s obligations under the lease. Such entitlement shall subsist notwithstanding any determination of the lease and
shall be in addition to any other right or remedy which the Landlord may have. 

 QUIET ENJOYMENT 

 

	30.2	 The Tenant paying the rent and performing and observing all the covenants and agreements expressed and
implied in this lease shall quietly hold and enjoy the premises throughout the term without any interruption by the Landlord or any person claiming under the Landlord. 

RENEWAL OF LEASE 
  

	30.3	 If the Tenant has given to the Landlord written notice to renew the lease at least 3 calendar months
before the end of the term and is not at the date of the giving of the notice in breach of this lease then the Landlord will grant a new lease for a further term from the renewal date as follows: 

 

	 	(a)	 If the renewal date is a market rent review date the annual rent shall be the current market rent which
if not agreed on shall be determined in accordance with subclause 2.2 but the annual rent shall not be less than the rent payable for the 12 months immediately preceding the relevant rent review date. 

 SIXTH EDITION 2012 (4) 

 

	 	(b)	 If the renewal date is a CPI rent review date, the annual lent shall be determined in accordance with subclause
2.5. 

  

	 	(c)	 Subject to the provisions of paragraphs (a) and (b) the new lease shall be upon and subject to the
covenants and agreements expressed and implied in this lease except that the term of this lease plus all further terms shall expire on or before the final expiry date. 

 

	 	(d)	 The annual rent shall be subject to review during the term of the new lease on the rent review dates specified
in the First Schedule. 

  

	 	(e)	 The Landlord as a condition of granting a new lease shall be entitled to have the new lease guaranteed by any
guarantor who has guaranteed this lease on behalf of the Tenant who has given notice or the security of a bank guarantee that has been given. 

  

	 	(f)	 If the renewal date is a market rent review date pending the determination of the rent, the Tenant shall
pay an interim rent in accordance with subclauses 2.3 and 2,4.7 

  

	 	(g)	 Notwithstanding anything contained in subclause 32.1(f) the interim rent referred to in that subclause shall
not be less than the annual rent payable as at the commencement date of the immediately preceding lease term. 

  

	 	(h)	 The parties will not be released by the renewal of the lease from any liability for any breach under this
lease. 

 ASSIGNMENT OR SUBLETTING 
  

	33.1	 The Tenant shall not assign sublet or otherwise part with the possession of the premises, the carparks
(if any) or any part of them without first obtaining the written consent of the Landlord which the Landlord shall not unreasonably withhold or delay if the following conditions are fulfilled: 

 

	 	(a)	 The Tenant proves to the reasonable satisfaction of the Landlord that the proposed assignee or subtenant is
(and in the case of a company that the shareholders of the proposed assignee or subtenant are) respectable responsible and has the financial resources to meet the Tenant’s commitments under this lease and in the case of the subtenant the
subtenant’s commitments under the sublease. The Tenant shall give the Landlord any additional information reasonably required by the Landlord. 

  

	 	(b)	 All rent and other moneys payable have been paid and there is not any subsisting breach of any of the Tenants
covenants. 

  

	 	(c)	 In the case of an assignment a deed of covenant in customary form approved or prepared by the Landlord is duly
executed and delivered to the Landlord. 

  

	 	(d)	 In the case of an assignment to a company (other than a company listed on the main board of a public stock
exchange in New Zealand or Australia) either a deed of guarantee in customary form approved or prepared by the Landlord is duly executed by the principal shareholders of that company and delivered to the Landlord or a bank guarantee from a
registered trading bank in New Zealand on reasonable terms approved by the Landlord as security for the performance by the company of its obligations under this lease is provided to the Landlord. 

 SIXTH EDITION 2012 (4) 

 

	 	(e)	 The Tenant pays the Landlord’s reasonable costs and disbursements in respect of the approval and the
preparation of any deed of covenant or guarantee and (if appropriate) all fees and charges payable in respect of any reasonable inquiries made by or on behalf of the Landlord concerning any proposed assignee subtenant or guarantor. All such costs
shall be payable whether or not the assignment or subletting proceeds. 

  

	33.2	 Where the Landlord consents to a subletting the consent shall extend only to the subletting and
notwithstanding anything contained or implied in the sublease the consent shall not permit any subtenant to deal with the sublease in any way in which the Tenant is restrained from dealing without consent. 

 

	34.3	 Where any Tenant is a company which is not listed on the main board of a public stock exchange in New
Zealand or Australia, then any change in the legal or beneficial ownership of its shares or the shares of its shareholder or issue of new capital in the company or its shareholder where in any case there is a change in the effective management or
control of the company will require the written consent of the Landlord which will not be unreasonably withheld or delayed. 

 UNIT
TITLE PROVISIONS 
  

	34.1	 Clause 34 applies where the property is part of a unit title development 

Body Corporate 
  

	34.2	 The expression ‘Body Corporate’ means the Body Corporate under the Unit Titles Act 2010 (in
subclauses 34.2 to 34.7 “the Act”) in respect of the property. 

 Act and Rules Paramount 

 

	34.3	 This lease shall be subject to the provisions of the roles of the Body Corporate and the provisions of
the Act. 

 Insurance 
  

	34.4	 Unless the Body Corporate has resolved that the Landlord is to insure the building the Landlord’s
obligation to insure the building shall be satisfied by the Body Corporate maintaining the same insurance cover in accordance with the Act. 

Landlord’s Obligations 
  

	34.5	 The Landlord shall observe and perform all of the Landlord’s obligations as a member of the Body
Corporate and shall use the Landlord’s best endeavours to ensure that the Body Corporate complies with its roles and the provisions of the Act. 

Tenant’s Obligations 
  

	34.6	 The Tenant shall comply with the roles of the Body Corporate and the provisions of the Act to the extent
that they apply to the Tenants use of the property. 

 Consents 

 

	34.7	 Where in this lease the consent of the Landlord is required in respect of any matter then the like
consent of the Body Corporate shall also be required if the consent of the Body Corporate to the matter would be necessary under its rules or the Act. 

 SIXTH EDITION 2012 (4) 

 

 CARPARKS 
  

	35.1	 The Tenant shall have the right to exclusive possession of the leased car parks, but when any car park
is not being used by the Tenant other persons shall be entitled to pass over the same. 

  

	35.2	 The Landlord may carry out repairs to the car parks and no abatement of rent or other compensation shall
be claimed by the Tenant except pursuant to subclauses 26.1 or 27.3. 

  

	35.3	 The Tenant shall comply with the Landlord’s reasonable requirements relating to the use of the car
parks and access to them and in particular shall only use the car parks for the parking of one motor vehicle per parking space. 

  

	35.4	 The provisions of the Second Schedule shall apply to the car parks as appropriate.

 GENERAL 
 Holding Over 

 

	36.1	 If the Landlord permits the Tenant to remain in occupation of the premises after the expiration or
sooner determination of the term, the occupation shall be a periodic tenancy only terminable by at least 20 working days notice given at any time with the tenancy terminating on the expiry of the notice at the rent then payable and otherwise on the
same covenants and agreements (so far as applicable to a periodic tenancy) as expressed or implied under this lease V 1 

 Access for Re-Letting or Sale 
  

	36.2	 The Tenant will during the term permit the Landlord, the Landlord’s representatives and prospective
tenants or purchasers to have access to inspect the premises provided that: 

  

	 	(a)	 Any such inspection is at a time which is-reasonably convenient to the
Tenant and after reasonable written notice. 

  

	 	(b)	 The inspection is conducted in a manner which does not cause disruption to the Tenant. 

 

	 	(c)	 If the Landlord or the Landlord’s representatives are not present the persons inspecting have written
authority from the Landlord to do so. 

 Suitability 
  

	38.1	 No warranty or representation expressed or implied has been or is made by the Landlord that the premises
are now suitable or will remain suitable or adequate for use by the Tenant or that any use of the premises by the Tenant will comply with the by-laws or ordinances or other requirements of any authority having
jurisdiction. 

 Affirmation 
  

	38.2	 A party to this lease shall not be entitled to cancel this lease if, with full knowledge of any
repudiation or misrepresentation or breach of covenant, that party affirmed this lease. 

 Waiver 

 

	38.3	 No waiver or failure to act by either party in respect of any breach by the other shall operate as a waiver of
another breach. 

 SIXTH EDITION 2012 (4) 

 

 Land Transfer Title or Mortgagee’s consent 

 

	38.4	 The Landlord shall not be required to do any act or thing to enable this lease to be registered or be
required to obtain the consent of any mortgagee of the property and the Tenant will not register a caveat in respect of the Tenant’s interest under this lease Notices 

 

	38.5	 All notices must be in writing and must be served by one of the following means: 

 

	 	(a)	 In the case of a notice under sections 245 or 246 of the Property Law Act 2007 in the manner prescribed by
section 353 of that Act; and 

  

	 	(b)	 In all other cases, unless otherwise required by sections 352 to 361 of the Property Law Act 2007:

  

	 	(1)	 in the manner authorised by sections 354 to 361 of the Property Law Act 2007, or 

 

	 	(2)	 by personal delivery, or by posting by registered or ordinary mail, or by facsimile, or by email.

  

	38.6	 In respect of the means of service specified in subclause 42.1 (b)(2), a notice is deemed to have been
served: 

  

	 	(a)	 In the case of personal delivery, when received by the addressee. 

 

	 	(b)	 In the case of posting by mail, on the second working day following the date of posting to the addressee’s
last known address in New Zealand. 

  

	 	(c)	 In the case of facsimile transmission, when sent to the addressee’s facsimile number.

  

	 	(d)	 In the case of email, when acknowledged by the addressee orally or by return email or otherwise in writing
except that return emails generated automatically shall not constitute an acknowledgement. 

  

	38.7	 In the case of a notice to be served on the Tenant, if the Landlord is unaware of the Tenant’s last known
address in New Zealand or the Tenants facsimile number, any notice placed conspicuously on any part of the premises shall be deemed to have been served on the Tenant on the day on which it is affixed. 

 

	38.8	 A notice shall be valid if given by any director, general manager, lawyer or other authorised
representative of the party giving the notice. 

  

	38.9	 Where two or more notices are deemed to have been served at the same time, they shall take effect in the
order in which they would have been served but for subclause 47.1(p). 

  

	38.10	 Any period of notice required to be given under this agreement shall be computed by excluding the date
of service. 

 Arbitration 
  

	43.1	 The parties shall first endeavour to resolve any dispute or difference by agreement and if they agree by
mediation. 

  

	43.2	 Unless any dispute or difference is resolved by mediation or other agreement within 30 days of the
dispute or difference arising, the same shall be submitted to the arbitration of one arbitrator who shall conduct the arbitral proceedings in accordance with the Arbitration Act 1996 or any other statutory provision then relating to arbitration.

 SIXTH EDITION 2012 (4) 

 

	43.3	 If the parties are unable to agree on the arbitrator, an arbitrator shall be appointed, upon request of
any party, by the president or vice president of the New Zealand Law Society. That appointment shall be binding on all parties to the arbitration and shall be subject to no appeal. The provisions of Article 11 of the First Schedule of the
Arbitration Act 1996 are to be read subject to this and varied accordingly. 

  

	43.4	 The procedures prescribed in this clause shall not prevent the Landlord from taking proceedings for the
recovery of any rent or other monies payable under this lease which remain unpaid or from exercising the rights and remedies in the event of the default prescribed in subclause 28.1. 

No Implied Terms 
  

	44.1	 The covenants, conditions and powers implied in leases pursuant to the Property Law Act 2007 and
sections 224 and 266(1)(b) of that Ad shall not apply to and are excluded from this lease where allowed. 

 Limitation of Liability

  

	45.1	 If any person enters into this lease as trustee of a trust 

 

	 	(a)	 That person warrants that: 

 

	 	(1)	 that person has power to enter into this lease under the terms of the trust; and 

 

	 	(2)	 that person has property signed this lease in accordance with’ the terms of the trust; and

  

	 	(3)	 that person has the right to be indemnified from the assets of the trust and that right has not been lost or
impaired by any action of that person including entry into this lease; arid 

  

	 	(4)	 all of the persons who are trustees of the trust have approved entry into this lease. 

 

	 	(b)	 If that person has no right to or interest in any assets of the trust except in that person’s capacity as
a trustee of the trust, that person’s liability under this lease will not be personal and unlimited but Will be limited to the actual amount recoverable from the assets of the trust from time to time (‘the limited amount”). If the
right of that person to be indemnified from the trust assets has been lost or impaired as a result of fraud or gross negligence that person’s liability will become personal but limited to the extent of that part of the limited amount which
cannot be recovered from any other person. 

  

	45.2	 Notwithstanding subclause 45.1, a party to this lease that is named in item 17 of the Rest Schedule as a
limited liability trustee, that person’s liability will not be personal and unlimited but limited in accordance with subclause 45.1(b). 

Counterparts 
  

	46.1	 This lease may be executed in two or more counterparts, all of which will together be deemed to
constitute one and the same lease. A party may enter into this lease by signing a counterpart copy and sending it to the other party, including by facsimile or email. 

 SIXTH EDITION 2012 (4) 

 

 DEFINITIONS AND INTERPRETATION 

 

	47.1	 In this lease: 

 

	 	(a)	 “building services” means all services provided by the Landlord as an integral part of the
building for the general use and enjoyment of the building by its tenants or occupants including water, gas, electricity, lighting, air conditioning, heating and ventilation, telecommunications, lifts and escalators whether or not they are located
within the premises. 

  

	 	(b)	 “CPI” means the Consumer Price Index (All Groups) published by Statistics New Zealand or other
government agency and any revised, replacement or substituted index. 

  

	 	(c)	 “Default GST” means any additional GST, penalty (civil or otherwise), interest, or other sum imposed
on the Landlord (or where the Landlord is or was a member of a GST group its representative member) under the GST Act or the Tax Administration Act 1994 by reason of non-payment of any GST payable in respect
of the supply made under this lease but does not include any sum levied against the Landlord (or where the Landlord is or was a member of a GST group its representative member) by reason of a default or delay by the Landlord after payment of the GST
to the Landlord by the Tenant. 

  

	 	(d)	 “emergency” for the purposes of subclause 27.5 means a situation that: 

 

	 	(1)	 is a result of any event, whether natural or otherwise, including an explosion, earthquake, eruption, tsunami,
land movement, flood, storm, tornado, cyclone, serious fire, leakage or spillage of any dangerous gas or substance, infestation, plague, epidemic, failure of or disruption to an emergency service; and 

 

	 	(2)	 causes or may cause loss of life or serious injury, illness or in any way seriously endangers the safety of the
public or property; and 

  

	 	(3)	 the event is not caused by any act or omission of the Landlord or Tenant. 

 

	 	(e)	 ‘GST means the Goods and Services Tax arising pursuant to the Goods and Services Tax Act 1985 and
‘GST Act* means the Goods and Services Tax Act 1985. 

  

	 	(f)	 ‘premises’ includes all the Landlord’s fixtures and fittings provided by the Landlord and those
set out in the Fifth Schedule. 

  

	 	(g)	 ‘premises condition report” means the report as set out in the Sixth Schedule. 

 

	 	(h)	 “renewal” means the granting of a new lease as provided for in subclause 32.1. 

 

	 	(i)	 ‘rules’ in clause 34 means the Body Corporate operational roles under toe Unit Titles Act 2010 and
any amendments to those roles or replacement roles. 

  

	 	(j)	 “structural repair” means a repair, alteration or addition to the structure or fabric of the building
but excluding building services. 

  

	 	(k)	 “term” includes, where the context requires, a further term if the lease is renewed.

  

	 	(l)	 “the common areas’ means those parts of the property the use of which is necessary for the enjoyment
of the premises and which is shared with other tenants and occupiers. 

 SIXTH EDITION 2012 (4) 

 

	 	(m)	 “the Landlord’ and “the Tenant* means where appropriate the executors, administrators,
successors and permitted assigns of the Landlord and the Tenant. 

  

	 	(n)	 the property* and “the building” mean the land, building(s) or improvements of the Landlord which
comprise or contain the premises. Where the premises are part of a unit title development the words “the property* mean the land and building(s) comprised in the development. 

 

	 	(o)	 “those for whom the Tenant is responsible” includes the Tenant’s agents employees contractors or
invitees. 

  

	 	(p)	 “working day* has the meaning given to it in the Property Law Act 2007. Notices served after 5pm on a
working day, or on a day which is not a working day, shall be deemed to have been served on the next succeeding working day. 

  

	 	(q)	 A reference in this lease to any law, legislation or legislative provision includes any statutory modification,
amendment or reenactment, and any subordinate legislation or regulations issued under that legislation or legislative provision. 

  

	 	(r)	 A reference to the words “include* or “including” are to be interpreted without limitation.

  

	 	(s)	 If any inserted term (including any Further Term in the Third Schedule) conflicts with the covenants in the
First, Second and Fourth Schedules, the inserted term will prevail. 

  

	 	(t)	 Whenever words appear in this lease that also appear in the First Schedule then those words shall mean and
include the details supplied after them in the First Schedule. 

  

	 	(u)	 Where the context requires or admits, words importing the singular shall import the plural and vice versa.

  

	 	(v)	 Where the Landlord’s consent or approval to any matter is required under this lease then, unless expressly
stated to the contrary in this lease, in each case the Landlord: 

  

	 	(1)	 must not unreasonably withhold consent or approval and 

 

	 	(2)	 must, within a reasonable time of the Landlord’s consent Or approval being requested:

  

	 	(i)	 grant that consent or approval; 

 

	 	(ii)	 notify the Tenant in writing that the consent or approval is withheld. 

 SIXTH EDITION 2012 (4) 

 

 THIRD SCHEDULE 

FURTHER TERMS (if any) 
  

	*See	 attached 

 SIXTH EDITION 2012 (4) 

 

 DEED OF LEASE 

SCHEUDLE 3 - FURTHER TERMS 
  

	48.	 Incentive 

  

	48.1	 The Landlord agrees to an incentive in the form of three (3) months and two (2) weeks’ net rent
free to be taken as a rental holiday. Four (4) weeks’ rent are to be deducted from the last annual payment for the first three (3) years with two (2) weeks’ rental being deducted upon year four (4). For the sake of
clarification all operating expenses are payable during this period. 

  

	49.	 Bank Guarantee 

 

	49.1	 The Tenant will provide a bank guarantee from a NZ trading bank on reasonable terms approved by the Landlord
for an amount equivalent to Nine (9) months’ annual rent plus operating expenses plus GST as security for the due and punctual observance performance by the Tenant of the Tenant’s obligations under this lease on a rolling basis such
that as rent is increased pursuant to the rent review clause the Tenant shall provide a replacement guarantee for the then current annual rent plus operating expenses plus GST within fourteen (14) days of the determination of the annual rent
for the relevant rent review date. 

  

	49.2	 Upon any assignment of the lease the Tenant shall procure as a (inter alia) condition of the Landlord’s
consent that the assignee Tenant provide the Landlord with a replacement bank guarantee on similar terms. Provision of such a replacement bank guarantee shall not relieve the Tenant of its liability as a principal obligee under the terms of the
lease. 

  

	49.3	 The bank guarantee shall be returned by the Landlord to the Tenant after the later of the following
conditions:- 

  

	 	(a)	 a permitted assignment and provision of a replacement bank guarantee in accordance with this clause;

  

	 	(b)	 final expiry or early termination of this lease or expiry of any holding over period; 

 

	 	(c)	 the compliance by the Tenant of all its obligations under this lease. 

 

	49.4	 The Parties acknowledge that the Landlord has approved the form of the bank guarantee, in the form attached,
such approval by the Landlord is given subject to the provisions of clause 49.1 and the entitlement of the Landlord to require a replacement guarantee at its discretion on market and subsequent reviews as set out in clause 53 of these further terms
and in the event operating expenses increase during the first six years of the terms of this Lease. 

  

	50.	 Mezzanine Removal 

 

	50.1	 The Landlord, at its own costs, agrees to remove the wooden floor mezzanine that is supported by racking.

  

	51.	 Early Access 

  

	51.1	 The Landlord grants the Tenant early access for the purpose of commencing works in the vacant office space.
Early access will only be granted: 

  

	 	(a)	 after the current tenant has vacated the premises; 

 SIXTH EDITION 2012 (4) 

 

	 	(b)	 the Tenant has signed a Deed of Lease and delivered it to the Landlord in accordance with clause 4 of this
Agreement; and 

  

	 	(c)	 the Tenant has delivered to the Landlord the Bank Guarantee required to be delivered pursuant to clause 49 of
these Further Terms; and 

  

	 	(d)	 the Tenant has delivered to the Landlord the policy of insurance evidencing cover for public liability in the
amount required by this Agreement. 

  

	51.2	 Subject to compliance with requirements of clause 51.1 (b) to (d), and to the extent that the existing tenant
permits the Landlord will grant the Tenant early access to areas that the existing tenant is not using. 

  

	52.	 Annual Rent Review Dates - Continuation of Clause 2 of the Deed of Lease 

The following clauses shall be added: 
  

	 	2.7	 The annual rent shall be reviewed in the manner referred to in clause 2.8 annually on each anniversary of the
Commencement Date of this Lease during the term of this Lease and any renewed term (Annual Rent Review Date). 

  

	 	2.8	 On each Annual Rent Review Date the annual rent shall increase by an amount equal to the annual rent payable
for the twelve (12) months immediately preceding the Annual Rent Review Date increased by a fixed percentage of 2.5% of the then current annual rent in the manner set out in the table below. 

 

					
	 Year 1
	  	$	1,205,055.00	 
	 Year 2
	  	$	1,235,181.30	 
	 Year 3
	  	$	1,266,060.80	 
	 Year 4
	  	$	1,297,712.30	 
	 Year 5
	  	$	1,330,155.10	 
	 Year 6
	  	$	1,363,408.90	 
	 Renewal Date
	  	 

	Higher of market or Year 6
current annual rental + 2.5% of
the then current annual rent	 
 
 
	 Years 7
	  			
	 -10
	  	 	In the manner calculated above	 

  

	 	2.9	 Notwithstanding any other clause in this Agreement or the Deed of Lease the annual rent payable as from the
renewal date shall not be less than the annual rent payable for the 12 months immediately preceding the relevant rent review date. Clauses 2.1(d), 2.3 and 32.1(a) and any other provision of the Deed of Lease shall be amended accordingly.

  

	 	2.10	 When a Rent Review Date is both a Market Rent Review Date and Annual Rent Review Date the Annual Rent shall be
the higher of two Annual Rent Determinations. 

 53. Public Liability Cover 

 

	53.1	 The Tenant shall arrange public liability cover for not less than $10,000,000.00. 

 SIXTH EDITION 2012 (4) 

 

 BANKER’S CERTIFICATE 

 

	By:	 ASB BANK LIMITED 

  

	To:	 Kawatiri Properties Limited and its successors and assigns (“Lessor”) 

For: Rocket Lab Limited (“Lessee”) 
  

	1.	 ASB Bank Limited (“Bank”) asks the Lessor to accept this undertaking in connection with an agreement
to lease dated 27 October 2017 and any lease arising therefrom between the Lessor and Lessee for the premises at 25 Levene Place, Mt Wellington, Auckland (“Lease”). 

 

	2.	 In consideration of the Lessor accepting this undertaking, the Bank undertakes unconditionally and irrevocably
to pay the Lessor on written demand from time to time any sum or sums not exceeding the maximum aggregate amount applicable during the lease period as listed in the following table 

 

	3.	      

 

			
	 Lease Period
	  	 Maximum Aggregate Amount

	 Year 1 (1/5/18-30/4/19)
	  	NZ$1,182,666.90 (incl GST)
	 Year 2 (1/5/19-30/4/20)
	  	NZ$1,208,651,69 (incl GST)
	 Year 3 (1/5/20-30/4/21
	  	NZ$1,235,285.27 (incl GST)
	 Year 4 (175/21-30/4/22)
	  	NZ$1,262,584.68 (incl GST
	 Year 5 (1/5/22-30/4/23)
	  	NZ$1,290,566.59 (incl GST)
	 Year 6 (1/5/23-30/4/24)
	  	NZ$ 1,319,248.00 (Incl GST)

 (the relevant Maximum Aggregate Amount at any time being the “Aggregate Amount”). For the avoidance
of doubt, the Aggregate Amount shall not at any time exceed NZ$ 1,319,248.00 (incl GST). 
 Such demand must be in writing signed by an
authorised officer of the Lessor and made by the Lessor and delivered or sent to: 
 ASB Bank Limited, Lending Operations, P O Box 35,
Shortland Street, Auckland, 1140 
  

	4.	 The Bank will pay the Aggregate Amount or any parts of it to the Lessor on demand without reference to the
Lessee and even if the Lessee has given the Bank notice not to pay the money, provided the Lessor confirms in writing to the Bank at the time of making such demand that the Lessee is in default under the Lease and the amount demanded is to remedy
such default. 

  

	5.	 Any alterations to the Lease or any extensions of time or any other forbearance by the Lessor or Lessee will
not impair or discharge the Bank’s liability under this undertaking. 

  

	6.	 This undertaking remains in force until the earliest of the following events occurs: 

 

	 	(a)	 the Lessor notifies the Bank in writing that the undertaking is no longer required (which the Lessor undertakes
to do on the expiration of the Lease without default); or 

  

	 	(b)	 the Bank has paid the Aggregate Amount or the balance outstanding to the Lessor; or 

 

	 	(c)	 such earlier date as may be agreed in writing by the Bank and the Lessor. 

 

	7.	 Notwithstanding anything stated in this undertaking, the Bank reserves the right to pay the aggregate amount of
this undertaking, less any amounts that may already have been paid, or such lesser sum as may be required and specified by the lessor, at any time in full and final discharge of its liability. 

 SIXTH EDITION 2012 (4) 

 

	8.	 This undertaking shall be governed by and construed in accordance with the laws of New Zealand and shall be
subject to the jurisdiction of the Courts of New Zealand. 

  

					
	DATED at Auckland this	 		 	22nd day of January 2018
			
	 SIGNED by ASB Bank Limited by
 its
Authorised Officers
	 		 	 /s/ Phillip Graeme Harris

		 		 	 PHILLIP GRAEME HARRIS
 of Auckland, New
Zealand Legal Executive,
 Lending Operations
 ASB Bank
Limited

			
	in the presence of	 		 	 /s/ Jack Thomas Kiss

		 		 	 Jack Thomas Kiss
 Auckland, New Zealand

Head of Lending Operations
 ASB Bank Limited

			
	 /s/ Margaret Hastings
	 		 	
	 Margaret Hastings
 Bank Officer,
Auckland
	 		 	

 On cancellation of this Certificate please return it to ASB Bank Limited, Lending Operations, 

PO Box 35, Short/and Street, Auckland 1140, New Zealand. 

 SIXTH EDITION 2012 (4) 

 

 FIFTH SCHEDULE 

LANDLORD’S FIXTURES AND FITTINGS 

(Subclause 47.1(f)) 
  

	**	 See attached 

 SIXTH EDITION 2012 (4) 

 

 Kawatiri Properties Limited 

Schedule of Furniture and Fittings 

As at 31st March 2017 
  

 
  

			
	 	 	31/03/2017
	Furniture and Fittings	 	
	Interior Carpentry and Linings	 	
	Timber Doors	 	
	Stainless Steel Wall Claddings	 	
	Steel Framed Burrow Light	 	
	Glazed Partitions	 	
	Suspended Ceilings	 	
	Sliding Folding Doors	 	
	Door Furniture & Hardware	 	
	Joinery Fittings	 	
	Kitchen Joinery	 	
	Fire Alarms	 	
	Mirrors	 	
	Floor Tiling	 	
	Floor Coverings (Vinyl)	 	
	Air Conditioning Systems	 	
	Carpet	 	
	Roller Doors	 	
	Lifts	 	
	Light Fittings	 	
	Roller Door Motors	 	
	Partitions (Demountable)	 	
	Plumbing & Electrical Reticulation	 	
	Water Heaters	 	
	Total Furniture & Fittings	 	
		
	Furniture & Fittings – 2008	 	
	Air Conditioning Systems	 	
	Carpet	 	
	Fire Alarms	 	
	Floor Coverings (Vinyl)	 	
	Glazed Partitions	 	
	Joinery Fittings	 	
	Jointing Floor Slab	 	
	Light Fittings	 	
	Partitions (Demountable)	 	
	Plumbing & Electrical Reticulation	 	
	Stainless Steel Wall Cladding	 	
	Suspended Ceilings	 	

 SIXTH EDITION 2012 (4) 

 

 SIXTH SCHEDULE 

PREMISES CONDITION REPORT 

(Subclause 8.1) 

 SIXTH EDITION 2012 (4) 

 

			
		 	 Dated

		
		 	Between
		 	Kawatiri Properties Limited (company number 654236)
		
		 	Landlord
		
		 	and
		 	Rocket Lab Limited (company number 1835428)
		
		 	Tenant
		
		 	and
		
		 	Guarantor
		
		 	  
  

DEED OF LEASE
  

 

		
		 	General address of the premises:
		
		 	All that land and buildings contained in Certificate of Title 264885 (North Auckland Registry’), being Lot 4 Deposited Plan 365252 and known as 25 Levene Place, Mt Wellington, AucklandEX-10.13

 Exhibit 10.13 

STANDARD INDUSTRIAL LEASE 

(NET) 
  

			
	LANDLORD:	  	DOUGLAS PARK ASSOCIATES III, LLC
		
	TENANT:	  	ROCKET LAB USA, INC.
		
	PROJECT:	  	DOUGLAS PARK - PACIFIC POINTE
		
	CITY, STATE:	  	LONG BEACH, CALIFORNIA
		
	DATE:	  	OCTOBER 4, 2019

 TABLE OF CONTENTS 

 

							
	 1.
	 	 BASIC LEASE TERMS.
	  	 	1	 
	 2.
	 	 PREMISES.
	  	 	3	 
	 3.
	 	 LEASE TERM.
	  	 	4	 
	 4.
	 	 POSSESSION.
	  	 	4	 
	 5.
	 	 RENT.
	  	 	5	 
	 6.
	 	 PREPAID RENT.
	  	 	7	 
	 7.
	 	 SECURITY DEPOSIT.
	  	 	7	 
	 8.
	 	 USE OF PREMISES AND PROJECT FACILITIES.
	  	 	7	 
	 9.
	 	 SURRENDER OF PREMISES; HOLDING OVER.
	  	 	11	 
	 10.
	 	 SIGNAGE.
	  	 	12	 
	 11.
	 	 TAXES.
	  	 	12	 
	 12.
	 	 UTILITIES.
	  	 	14	 
	 13.
	 	 MAINTENANCE.
	  	 	14	 
	 14.
	 	 ALTERATIONS.
	  	 	20	 
	 15.
	 	 RELEASE AND INDEMNITY.
	  	 	21	 
	 16.
	 	 INSURANCE.
	  	 	22	 
	 17.
	 	 DESTRUCTION.
	  	 	25	 
	 18.
	 	 CONDEMNATION.
	  	 	26	 
	 19.
	 	 ASSIGNMENT OR SUBLEASE.
	  	 	27	 
	 20.
	 	 DEFAULT.
	  	 	30	 
	 21.
	 	 LANDLORD’S REMEDIES.
	  	 	30	 
	 22.
	 	 DEFAULT BY LANDLORD.
	  	 	32	 
	 23.
	 	 ENTRY OF PREMISES AND PERFORMANCE BY TENANT.
	  	 	32	 
	 24.
	 	 SUBORDINATION.
	  	 	33	 
	 25.
	 	 NOTICE.
	  	 	34	 
	 26.
	 	 WAIVER.
	  	 	34	 
	 27.
	 	 LIMITATION OF LIABILITY.
	  	 	34	 
	 28.
	 	 FORCE MAJEURE.
	  	 	35	 
	 29.
	 	 PROFESSIONAL FEES.
	  	 	35	 
	 30.
	 	 EXAMINATION OF LEASE.
	  	 	36	 
	 31.
	 	 ESTOPPEL CERTIFICATE.
	  	 	36	 
	 32.
	 	 RULES AND REGULATIONS.
	  	 	36	 
	 33.
	 	 LIENS.
	  	 	36	 
	 34.
	 	 MISCELLANEOUS PROVISIONS.
	  	 	37	 
	 35.
	 	 TENANT’S ROOFTOP RIGHTS
	  	 	39	 
	 36.
	 	 LEASE EXECUTION.
	  	 	39	 

  
 (1) 

 EXHIBITS 
  

			
	 EXHIBIT A:
	  	 DEPICTION OF PREMISES

	 EXHIBIT B:
	  	 DESCRIPTION/DEPICTION OF PREMISES LAND

	 EXHIBIT C:
	  	 TENANT WORK LETTER

	 EXHIBIT D:
	  	 NOTICE OF LEASE TERM DATES

	 EXHIBIT E:
	  	 TENANT ESTOPPEL CERTIFICATE

	 EXHIBIT F:
	  	 RULES AND REGULATIONS

	 EXHIBIT G:
	  	 SIGNAGE PROGRAM

	 EXHIBIT H:
	  	 HAZARDOUS MATERIALS ADDENDUM

	 EXHIBIT I:
	  	 HAZARDOUS MATERIALS QUESTIONNAIRE

	 EXHIBIT J:
	  	 REFERENCE PROVISION

	 EXHIBIT K:
	  	 ZONING CONFIRMATION LETTER

	 EXHIBIT L:
	  	 DEPICTION OF TENANT CONTROL AREA

	 EXHIBIT M:
	  	 DEPICTION OF REMAINING OFFICE SPACE

	 EXHIBIT N:
	  	 REMAINING TENANT’S WORK

 RIDERS 
  

			
	 RIDER 1:
	  	 OPTION TO EXTEND

  
 (2) 

 STANDARD INDUSTRIAL LEASE 

(NET) 
 1. BASIC LEASE TERMS. 

 

	 	(a)	 DATE OF LEASE EXECUTION: October 4, 2019 

 

	 	(b)	 TENANT: ROCKET LAB USA, INC., a Delaware corporation 

Trade Name: ROCKET LAB SPACE SYSTEMS 

Address (Premises): 3881 McGowen Street, Long Beach, CA 90808 

 

			
	 Address for Notices:
	  	
		
		  	 Before Commencement Date:
 14520 Delta Lane,
Unit A
 Huntington Beach, CA 92647
 Attn: CFO

		
		  	 After Commencement Date:
 3881 McGowen
Street, Bldg. 15
 Long Beach, CA 90808
 Attn: CFO

		
		  	 w/ copy to:
 Goodwin Procter LLP

601 Marshall Street
 Redwood City, CA 94063

Attn: Craig Schmitz, Esq.

  

	 	(c)	 LANDLORD: DOUGLAS PARK ASSOCIATES III, LLC, a Delaware limited liability company 

 

			
	 Address for Rent:
	  	 c/o SARESREGIS Group
 18802 Bardeen Avenue

Irvine, CA 92612
 Attn: Property Manager, Commercial Property
Services Division

		
	 Address for Notices:
	  	 c/o SARESREGIS Group
 18802 Bardeen Avenue

Irvine, CA 92612
 Attn: Property Manager, Commercial Property
Services Division

		
		  	with a copy to:
		
		  	 c/o J.P. Morgan Asset Management
 2029 Century
Park East, Suite 4150
 Los Angeles, CA 90067
 Attn: Asset
Manager

 (d) TENANT’S PERMITTED USE OF PREMISES: General manufacturing, warehousing and
distribution, research and development (including light manufacturing and assembly), and ancillary general office use, subject to the provisions set forth in this Lease and as permitted by law. Without limiting the foregoing, Landlord acknowledges
that the Premises may be used for the proposed uses set forth in that certain Zoning Confirmation Letter dated July 30, 2019 and issued by the City of Long Beach Department of Development Services, which letter is attached hereto as
Exhibit K. 
 (e) PREMISES; BUILDING; PROJECT: Approximately 94,290 square feet of space (the “Premises”) comprising the
entire building commonly known as Building 15 and located at 3881 McGowen Street, Long Beach, CA 90808, as more specifically described in Exhibit A attached hereto (the “Building”). The Building is part of the project commonly known
as Douglas Park - Pacific Pointe (the “Project”). 
 TENANT’S SHARE OF THE BUILDING: 100%, which is the ratio that the square
footage of the Premises bears to the square footage of the Building. 
 BUILDING’S SHARE OF THE PROJECT: 30.1214%, which is the ratio
that the square footage of the Premises Land (as defined below) bears to the square footage of the Project (i.e., currently consisting of approximately 724,664 square feet of land). 

(f) PREMISES LAND: Approximately 218,279 square feet of land on which the Building is located more particularly described on Exhibit B
attached hereto. 
 (g) TERM; COMMENCEMENT DATE; EXPIRATION DATE: 

Term: Approximately eighty-seven (87) months, subject to extension as set forth in Rider 1 attached hereto. 

Commencement Date: The later of (i) April 1, 2020, or (ii) the Turnover Date (as hereinafter defined). Notwithstanding the
foregoing, Tenant and Tenant’s contractors shall have access to the Premises following the mutual execution and delivery of this Lease by Landlord and Tenant in order to perform the Tenant Improvement Work (as hereinafter defined) in the
Premises pursuant to the terms and conditions contained in Subparagraph 4(c) below. 
 Expiration Date: June 30, 2027. 

(h) BASIC RENT: 
  

					
	 Months
	  	Basic Rent Per Month	 
	 03/15/20 - 03/31/21*
	  	$	100,890.30	** 
	 04/01/21 - 03/31/22
	  	$	103,917.01	 
	 04/01/22 - 03/31/23
	  	$	107,034.52	 

  
 -2- 

					
	 04/01/23 - 03/31/24
	  	$	110,245.56	 
	 04/01/24 - 03/31/25
	  	$	113,552.92	 
	 04/01/25 - 03/31/26
	  	$	116,959.51	 
	 04/01/26 - 03/31/27
	  	$	120,468.29	 
	 04/01/27 - 06/30/27
	  	$	124,082.34	 

 *Dates to be adjusted based on actual Commencement Date. 

**Tenant’s obligation to pay Basic Rent shall be conditionally abated for the second
(2nd) through the fourth (4th) full calendar months of the Term, inclusive, (the “Basic Rent Abatement Period”), as set forth in
Subparagraph 5(d) below. 
 (i) PREPAID RENT (Basic Rent and estimated additional rent for first month of Term): One Hundred Twenty-Four
Thousand Four Hundred Sixty-One and 30/100 Dollars ($124,461.30). 
 (j) SECURITY DEPOSIT: One
Hundred Twenty-Four Thousand Eighty-Two and 34/100 Dollars ($124,082.34). 
 (k) BROKER(S): CBRE,
Inc., representing Landlord; Cushman & Wakefield, representing Tenant. 
 (l) ALLOWANCE: If elected by Tenant pursuant to
Section 5(a) of Exhibit C to this Lease, One Million Four Hundred Fourteen Thousand Three Hundred Fifty Dollars ($1,414,350.00). 

(m) TENANT IMPROVEMENTS: All tenant improvements to be installed by Tenant within the Premises pursuant to the terms of the Tenant Work Letter
attached hereto as Exhibit C. 
 (n) RIDERS: Rider 1 is attached hereto and made a part hereof. 

(o) EXHIBITS: Exhibits lettered A through N, inclusive, are attached hereto and made a part hereof. 

This Paragraph 1 represents a summary of the basic terms of this Lease. In the event of any inconsistency between the terms contained in this Paragraph 1 and
any specific provision of this Lease, the terms of the more specific provision shall prevail. 
 2. PREMISES. 

(a) Landlord hereby leases to Tenant and Tenant hereby leases from Landlord, the Premises referenced in Paragraph 1 and outlined on the
Depiction of Premises attached hereto as Exhibit A and incorporated herein by this reference. The Premises consists of that certain Building located at the address designated in Subparagraph 1(b) and the parcel or parcels of real property
described on the Description/Depiction of Premises Land attached hereto as Exhibit B and incorporated herein by this reference which is for the exclusive use of Tenant. 

  
 -3- 

 (b) The parties agree that the letting and hiring of the Premises is upon and subject to the
terms, covenants and conditions herein set forth and Tenant covenants as a material part of the consideration for this Lease to keep and perform each and all of said terms, covenants and conditions by it to be kept and performed and that this Lease
is made upon the condition of such performance. 
 3. LEASE TERM. 

The Term of this Lease shall be for the period designated in Subparagraph 1(g) commencing on the Commencement Date, and ending on the
Expiration Date, unless the term hereby demised shall be sooner terminated as herein provided (the “Term”). Notwithstanding the foregoing, if the Commencement Date falls on any day other than the first day of a calendar month then the Term
of this Lease shall be measured from the first day of the month following the month in which the Commencement Date occurs. Landlord and Tenant shall execute Exhibit D to confirm the Commencement Date and the Expiration Date
and other matters. 
 4. POSSESSION. 

(a) Delivery of Possession. The date Landlord delivers possession of the Premises to Tenant (A) in the Delivery Condition in
accordance with the terms of the Tenant Work Letter attached hereto as Exhibit C, (B) vacant, broom clean, free of all tenants, occupants, property and debris, in compliance with all applicable laws and (C) free of all Hazardous
Materials in violation of environmental laws, shall be hereinafter referred to as the “Turnover Date”. Notwithstanding the foregoing, Landlord shall not be obligated to deliver possession of any portion of the Premises to Tenant
(including, without limitation, pursuant to Subparagraph 4(c) below) until Landlord has received from Tenant all of the following: (i) the Security Deposit and the Prepaid Rent; (ii) certificates of the insurance coverages as required
under Paragraph 16 of this Lease; and (iii) an executed original of the Hazardous Materials Questionnaire in the form attached hereto as Exhibit I. 

(b) Condition of Premises. Except for the Allowance (as defined in the Tenant Work Letter attached hereto as Exhibit C) and
except as expressly provided to the contrary in this Lease, Tenant acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the Premises or any portions thereof, the Building or the Project
or their condition, or with respect to the suitability thereof for the conduct of Tenant’s business or any other business, and Tenant accepts the Premises in its “AS-IS”, “WHERE-IS”, with all faults condition on the date of delivery of possession. Except for the Allowance and except as expressly provided to the contrary in this Lease, by taking possession of the Premises,
Tenant shall conclusively establish that the Premises and the Building were at such time complete and in good, sanitary and satisfactory condition and repair with all work required to be performed by Landlord, if any, completed and without any
obligation on Landlord’s part to make any additional alterations, upgrades or improvements thereto, latent defects in the Base Building Work of which Landlord is notified of in writing at least five (5) business days prior to the
expiration of the Warranty Period (as hereinafter defined) excepted, in which case Tenant’s sole remedy for Landlord’s breach of this latent defect warranty shall be the right to cause Landlord to repair the latent defect; provided,
however, Landlord shall have no liability hereunder for a breach of this warranty (i) if said breach is caused by the acts or omissions of Tenant and/or the Tenant Parties or (ii) unless Tenant notifies Landlord by written notice delivered
at least five (5) business days prior to the expiration of Warranty Period. Notwithstanding the forgoing, Landlord warrants to Tenant that the windows and seals, fire sprinkler system, lighting, heating, ventilation and air conditioning systems
and all plumbing and electrical systems serving the Building to the extent such items are a part of the Base Building Work (collectively, the “Building Systems”) and the roof and structural components of the Building shall be in good
operating condition and in compliance with current building codes and applicable Laws as of the Commencement Date of the Lease. Provided that Tenant shall notify Landlord that the Building Systems 

  
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or the Base Building Work are not in good operating condition within twelve (12) months following the Turnover Date (the “Warranty Period”), then Landlord shall, except as
otherwise provided in this Lease, promptly after receipt of such notice from Tenant setting forth the nature and extent of such noncompliance, rectify same at Landlord’s sole cost and expense and not as part of the Maintenance Expenses or other
such operating expense pass-throughs; provided, however, Landlord shall have no liability hereunder for a breach of this warranty (i) if said breach is caused by the wrongful acts or omissions or misuse of Tenant and/or the Tenant Parties or
(ii) unless Tenant requests by written notice delivered to Landlord at least five (5) business days prior to the expiration of such Warranty Period. Further, Maintenance Expenses or other such operating expense pass-throughs shall not
include any cost incurred by Landlord in connection with bringing the Building’s exterior or other portions of the Base Building Work into compliance with the requirements of the ADA and other applicable law and codes that are in effect as of
the TCO Date (as defined below), including penalties or damages incurred due to such noncompliance, unless such compliance is triggered by (a) Tenant’s particular use of the Premises (as opposed to general warehouse and office uses), (b)
as a result of the Tenant Improvements in the Premises as provided in Exhibit C, or (c) as a result of any alterations to the Premises made by or on behalf of Tenant. Subject to Landlord’s warranties concerning the ADA contained
herein, Tenant shall, at its sole cost and expense, be responsible for causing the Premises, the Tenant Improvement Work and any other alterations performed by Tenant to comply with applicable laws and, if applicable, the ADA requirements pursuant
to Subparagraph 8(b). 
 (c) Early Entry. Notwithstanding the fact that the Term has not commenced, Landlord agrees to permit Tenant
to enter the Premises upon the mutual execution and delivery of this Lease in order to commence the performance of the Tenant Improvements pursuant to the Tenant Work Letter and the installation of equipment and personal property and only so long as
said use is permitted by applicable laws. Such entry shall be subject to all of the conditions set forth in this Subparagraph 4(c) below. Such early entry is conditioned upon Tenant and its contractors, employees, agents and invitees working in
harmony and not interfering with Landlord and its contractors and Landlord may immediately terminate such early entry in the event of any such interference. Tenant agrees that any such early entry is subject to all of the terms and conditions of
this Lease, except for those relating to the payment of rent and other recurring monetary obligations which have a specific commencement time, which provisions will become applicable in accordance with the terms of this Lease. 

Without limiting the generality of the foregoing, such early occupancy shall be conditioned upon Tenant first delivering to Landlord the items described in
Subparagraph 4(a) of this Lease and Tenant shall be specifically bound by the terms of Paragraphs 8 (Use of Premises and Project Facilities), 15 (Release and Indemnity) and 16 (Insurance) of this Lease during such early entry period. Tenant
acknowledges that the Premises may not have electricity during such early access period. 
 5. RENT. 

(a) Basic Rent. Tenant agrees to pay Landlord Basic Rent for the Premises at the Basic Rent rate designated in Subparagraph 1(h) in
twelve (12) equal monthly installments, each in advance of the first day of each and every calendar month during the Term, except that the Prepaid Rent set forth in Subparagraph 1(i) shall be paid upon the execution of this Lease and applied to
the first full calendar month occurring during the Term. If the Term of this Lease commences on a day other than the first day of a calendar month or ends on a day other than the last day of a calendar month, then the rent (as defined below) for
such periods shall be prorated in the proportion that the number of days this Lease is in effect during such periods bears to thirty (30), and such rent shall be paid at the commencement of such period. In addition to the Basic Rent, Tenant agrees
to pay additional rent as provided in Paragraph 11 (Taxes), Paragraph 13 (Maintenance), Paragraph 16 (Insurance), the amount of all rental adjustments as and when hereinafter provided in this Lease, and a management fee of two percent (2%) of the
rent (i.e., Basic Rent 

  
 -5- 

 
and additional rent) payable by Tenant pursuant to the terms of this Lease to cover Landlord’s management, overhead and administrative expenses related to the operation of the Building
and/or the Project, whether performed by Landlord’s personnel or delegated by Landlord to a professional property manager. The Basic Rent, any additional rent payable pursuant to the provisions of this Lease, and any rental adjustments shall be
paid to Landlord, without any prior demand therefor, and, except as expressly set forth in this Lease, without any deduction or offset whatsoever in lawful money of the United States of America, which shall be legal tender at the time of payment, at
the address of Landlord designated in Subparagraph 1(c) or to such other person or at such other place as Landlord may from time to time designate in writing. Further, all charges to be paid by Tenant hereunder, including, without limitation,
payments for real property taxes, insurance, and repairs, shall be considered “additional rent” for the purposes of this Lease, and the word “rent” in this Lease shall include such additional rent unless the context specifically
or clearly implies that only the Basic Rent is referenced. Basic Rent shall be adjusted as provided in Subparagraph 1(h). 
 (b) Late
Payment. Tenant acknowledges that late payment by Tenant to Landlord of any rent or other sums due under this Lease will cause Landlord to incur costs not contemplated by this Lease, the exact amount of such costs being extremely difficult and
impracticable to ascertain. Such costs include, without limitation, processing and accounting charges and late charges that may be imposed on Landlord by the terms of any encumbrance or note secured by the Premises. Therefore, if any rent or other
sum due from Tenant is not received within five (5) business days after written notice from Landlord that the same is past due, Tenant shall pay to Landlord an additional sum equal to 5% of such overdue payment for each month such payment
remains overdue (the “Late Charge”). Landlord and Tenant hereby agree that such late charge represents a fair and reasonable estimate of the costs that Landlord will incur by reason of any such late payment. Notwithstanding the foregoing,
Landlord shall waive the Late Charge for late payment of rent one (1) time in each twelve (12) month period if the late payment is received within five (5) business days after notice to Tenant from Landlord. Additionally, all such
delinquent rents or other sums, shall bear interest at the lesser of (i) eight percent (8%) per annum or (ii) the maximum legal interest rate (as applicable, the “Interest Rate”). 

(c) Triple Net Lease. Landlord and Tenant acknowledge that, except as otherwise expressly provided to the contrary in this Lease, it is
their intent and agreement that this Lease be a “TRIPLE NET” lease and that as such, the provisions contained in this Lease are intended to pass on to Tenant or reimburse Landlord for the costs and expenses reasonably associated with this
Lease, the Building and the Project (as applicable), and Tenant’s operation therefrom, including, without limitation, any assessments payable under any covenants, conditions or restrictions encumbering the Project. To the extent such costs and
expenses payable by Tenant cannot be charged directly to, and paid by, Tenant, such costs and expenses shall be paid by Landlord but reimbursed by Tenant as additional rent hereunder. 

(d) Abatement of Basic Rent. Provided Tenant is not in default under this Lease (beyond any applicable notice and cure periods),
Landlord hereby agrees to abate Tenant’s obligation to pay Basic Rent during the Basic Rent Abatement Period (such total amount of abated Basic Rent, i.e., $302,670.90 in the aggregate, being hereinafter referred to as the “Abated Basic
Rent”). During the Basic Rent Abatement Period, Tenant will still be responsible for the payment of all other monetary obligations under this Lease, including, without limitation, all additional rent described in Subparagraph 5(a) above and
elsewhere in this Lease. Tenant acknowledges that any default under this Lease (beyond any applicable notice and cure periods) will cause Landlord to incur costs not contemplated hereunder, the exact amount of such costs being extremely difficult
and impracticable to ascertain, therefore, if this Lease is terminated by Landlord due to an uncured event of default, then the total unamortized sum of such Abated Basic Rent (amortized on a straight line basis over the last eighty- four
(84) full calendar months of the initial Term) so conditionally excused shall become immediately due and payable by Tenant to Landlord and any remaining Abated Basic Rent shall no longer be available to Tenant as a rent credit from the date of

  
 -6- 

 
such default. Tenant acknowledges and agrees that nothing in this Subparagraph 5(d) is intended to limit any other remedies available to Landlord at law or in equity under applicable laws
(including, without limitation, the remedies under California Civil Code Sections 1951.2 and/or 1951.4 and any successor statutes or similar laws) in the event of a default under this Lease (beyond any applicable notice and cure periods). 

6. PREPAID RENT. 
 Upon execution of this
Lease, Tenant shall pay to Landlord the Prepaid Rent set forth in Subparagraph 1(i), and such Prepaid Rent shall be applied during the first (1st) full calendar month Basic Rent is due during the
Term with respect to Tenant’s leasing of the Premises. Landlord’s obligations with respect to the Prepaid Rent are those of a debtor and not of a trustee, and Landlord can commingle the Prepaid Rent with Landlord’s general funds.
Landlord shall not be required to pay Tenant interest on the Prepaid Rent. If this Lease is terminated by Tenant pursuant to Section 7(a) of Exhibit C, or in the event Landlord does not accept this Lease, Landlord shall promptly return
said Prepaid Rent. If Landlord sells the Premises and deposits with the purchaser the Prepaid Rent, Landlord shall be discharged from any further liability with respect to the Prepaid Rent. 

7. SECURITY DEPOSIT. 
 Upon execution of
this Lease, Tenant shall deposit the Security Deposit set forth in Subparagraph 1(j) with Landlord, as security for the performance by Tenant of the provisions of this Lease. If Tenant is in default, regardless of whether such default is monetary or
non-monetary and such default is not cured within applicable notice and cure periods, Landlord may use the Security Deposit or any portion thereof to cure the default or to compensate Landlord for any damages
sustained by Landlord resulting from Tenant’s default. Within ten (10) days following written demand, Tenant shall pay to Landlord a sum equal to the portion of the Security Deposit expended or applied by Landlord to maintain the Security
Deposit in the amount initially deposited with Landlord. If Tenant is not in default at the expiration or termination of this Lease, Landlord shall return the entire Security Deposit to Tenant within 30-days
following such expiration or termination. Landlord’s obligations with respect to the Security Deposit are those of a debtor and not of a trustee, and Landlord can commingle the Security Deposit with Landlord’s general funds. Landlord shall
not be required to pay Tenant interest on the Security Deposit. If this Lease is terminated by Tenant pursuant to Section 7(a) of Exhibit C, or in the event Landlord does not accept this Lease, Landlord shall promptly return said
Security Deposit. If Landlord sells the Premises and deposits with the purchaser the Security Deposit and provided that such purchaser accepts in writing all of Landlord’s obligations and liabilities expressly provided in this Lease first
accruing following the date such purchaser acquires the Premises, Landlord shall be discharged from any further liability with respect to the Security Deposit. Tenant hereby waives the provisions of Section 1950.7 of the California Civil Code
and agrees that the provisions of this Paragraph 7 shall govern the treatment of Tenant’s Security Deposit in all respects for this Lease. 
 8. USE
OF PREMISES AND PROJECT FACILITIES. 
 (a) Tenant’s Use of the Premises. Tenant shall use the Premises for the use or uses
set forth in Subparagraph 1(d) above, and Tenant shall be entitled to access and use the Premises 24-hours per day, 7-days per week (subject to applicable laws), and
shall not use or permit the Premises to be used for any other purpose without the prior written consent of Landlord, which consent shall not be unreasonably withheld. Landlord makes no representations or warranties that said use of the Premises or
any other use of the Premises is permitted by any duly constituted public authority having jurisdiction over the Premises or the conduct of Tenant’s business. Further, subject to the terms and conditions of this Lease, Tenant shall have the
right to use (at no separate or additional charge by Landlord other than Tenant’s payment of utility usage to the applicable utility provider) the heating, ventilating and air conditioning system servicing the Premises 24-hours per day, 7-days per week. 

  
 -7- 

 (b) Compliance. At Tenant’s sole cost and expense, Tenant shall procure,
maintain and hold available for Landlord’s inspection, all governmental licenses and permits required for Tenant’s use of the Premises and the proper and lawful conduct of Tenant’s business from the Premises. Except as expressly
provided to the contrary in this Lease, or for which such obligations are the responsibility of Landlord as expressly provided hereunder, Tenant shall at all times during the Term of this Lease, at its sole cost and expense, observe and comply with
the certificate of occupancy issued for the Building and all laws, statutes, zoning restrictions, ordinances, rules, regulations and requirements of any duly constituted public authority having jurisdiction over the Premises now or hereafter in
force relating to or affecting the use, occupancy, alteration or improvement of the Premises including, without limitation, the provisions of Title III of the Americans with Disabilities Act of 1990, as amended (the “ADA”). Tenant shall
not use or occupy the Premises in violation of any of the foregoing. Notwithstanding the foregoing, Landlord agrees, as and when required by applicable law, to be responsible for causing the Premises and the Building (including the Base Building
Work) to comply with applicable laws (including, but not limited to) the terms of the ADA, existing as of the date Landlord has obtained a temporary certificate of occupancy or other required equivalent approval from the local governmental authority
permitting occupancy or confirming the completion of construction of the Premises or Building (the “TCO Date”); provided, however, to the extent Landlord is required to incur any such costs as a result of Tenant’s specific use of the
Premises (as opposed to general manufacturing, warehousing and distribution use), or as a result of the Tenant Improvements in the Premises as provided in Exhibit C, or as a result of any alterations to the Premises made by or on behalf of
Tenant (collectively, the “Tenant Triggered Events”), Tenant agrees to promptly reimburse Landlord for the same within thirty (30) days following receipt of an invoice therefor. Tenant shall, upon written notice from Landlord,
discontinue any use of the Premises which is declared by any governmental and/or quasi-governmental authority having jurisdiction over the Premises to be a violation of law or of said certificate of occupancy. Tenant shall comply with all rules,
orders, regulations and requirements of the Board of Fire Underwriters or any other insurance authority having jurisdiction over the Premises or any present or future insurer relating to the Premises. Tenant shall promptly, upon demand, reimburse
Landlord for any additional premium charged for any existing insurance policy or endorsement required by reason of Tenant’s failure to comply with the provisions of this Paragraph 8; provided that any such insurance policy maintained by
Landlord insures the Building for general warehouse and industrial uses and is similar to other such insurance policies carried by similar Landlords of similar first-class industrial building projects in the surrounding geography. Tenant shall not
use or allow the Premises to be used for any unlawful or objectionable purpose, nor shall Tenant cause, maintain or permit any nuisance in, on or about the Premises. Tenant shall comply with all restrictive covenants, conditions, easements,
obligations and the like now or hereafter recorded against the Premises Land and/or created by private contracts which affect the use and operation of the Premises (provided that Tenant is provided prior written notice of said private contracts),
including, without limitation, the reasonably and non- discriminatory Rules and Regulations referred to in Paragraph 32 and attached hereto as Exhibit F (collectively, the “CC&Rs”);
provided, however, that any such restrictive covenants and obligations recorded against the Premises Land and/or created by private contracts after the date of this Lease (including amendments, modifications or replacements of existing agreements)
shall not adversely affect Tenant’s access to or use and operation of the Premises as permitted under this Lease or increase Tenant’s obligations or liabilities or decrease Tenant’s rights under this Lease. Notwithstanding the
foregoing sentence, Tenant shall comply with all future restrictive covenants, conditions, easements, obligations and the like (including, but not limited to, utility easements, reciprocal access agreements and shared drainage agreements) which are
reasonably necessary for the development of the Project. In furtherance of the foregoing, Tenant acknowledges and agrees that pursuant to the terms of that certain Master Declaration of Covenants, Conditions and Restrictions for Douglas Park - Long
Beach dated December 19, 2006 and recorded in the Official Records of Los Angeles County, 

  
 -8- 

 
California on December 19, 2006 as Document No. 06-2827718 (as subsequently amended, the “Master CC&Rs”): (i) Tenant must develop
an active recycling program to reduce solid waste, and must participate in any such program developed by the Declarant, the Association, the Owners (all such terms are defined in the Master CC&Rs), or any local municipalities or governmental
agencies; (ii) Tenant agrees that it will use commercially reasonable efforts to cooperate in reasonable and non-discriminatory programs which may be undertaken by Landlord independently, or in
cooperation with local municipalities or governmental agencies or other Property Owners (as defined in the Master CC&Rs) in the vicinity of Douglas Park - Long Beach to reduce peak levels of commuter traffic. Such programs may include, but shall
not be limited to, carpools, van pools and other ride sharing programs, public and private transit, and flexible work hours; and (iii) Tenant shall be responsible, at its sole cost and expense, to employ a person to act as a transportation
coordinator under the TDM Program (as defined in the Master CC&Rs). Tenant shall not commit or suffer to be committed any waste in or upon the Premises and shall keep the interior, non-structural elements
of the Premises in good condition, repair and appearance, ordinary wear and tear excepted. Further, Tenant’s business machines and mechanical equipment which cause vibration or noise that may be transmitted to the Building structure in a manner
that may cause damage or injury to the Building structure shall be so installed, maintained and used by Tenant as to eliminate or minimize such vibration or noise. Tenant shall be responsible for all structural engineering required to determine
structural load, as well as the expense thereof. 
 (c) Hazardous Materials. Tenant may use the Hazardous Materials identified on and
substantially in the quantities on the Hazardous Materials Inventory Statement issued by Premier Fire Consulting, LLC dated August 5, 2019 (and reasonable substitutes thereof that pose no greater threat of environmental contamination or fire or
similar casualty to the Premises, Building or the Project), a copy of which is attached hereto as Schedule “2” to Exhibit H (the “Pre-Approved Hazardous Materials”). Except for the Pre-Approved Hazardous Materials, Tenant shall not cause or permit any Hazardous Materials (as defined in Exhibit H attached hereto) to be brought upon, stored, used, generated, released into the environment or
disposed of in, on, under or about the Premises by Tenant, its agents, employees, contractors or invitees (collectively referred to together with Tenant as the “Tenant Parties”), in violation of the terms of Exhibit H attached hereto.
Landlord represents and warrants to the actual knowledge of Landlord, which is limited to the actual present knowledge of Peter M. Rooney as of the date of this Lease, without any independent duty of investigation or inquiry, except for the
conditions disclosed on the environmental reports and agreements identified on Exhibit H attached hereto (the “Environmental Reports and Agreements”), Landlord has no actual knowledge of any Hazardous Materials present in the Premises
which require removal or remediation under applicable Laws. 
 In addition to the provisions set forth in the third (3rd) paragraph of Section 5 of Exhibit H attached hereto, nothing in this Section or this Lease shall render Tenant liable for or require Tenant (and neither Tenant nor any of the Tenant Parties
will be deemed to have “permitted”) to (i) indemnify Landlord with respect to, or clean up or remediate, or pay for the costs of investigating, cleaning up or remediating (whether through Maintenance Expenses or operating expense
pass-throughs), (a) any Hazardous Materials which were in, on or at the Premises, the Building or the Project (including the groundwater and soil) prior to, or as of, the Commencement Date of the Lease (the
“Pre-Existing Hazardous Materials”) except and then only to the extent that Tenant exacerbates such conditions or breaches any provision of this Lease which pertain to the Pre-Existing Hazardous Materials or the mitigation measures in place in connection with same or (b) which were placed on or in the area of the Premises outside of the Tenant Control Area by anyone other than
Tenant or any of the Tenant Parties, or (ii) with respect to the obligations of Landlord or any affiliates of Landlord to perform its obligations under the Environmental Reports and Agreements (including obligations of “Buyer” under
the Boeing Provisions) except and then only to the extent that Tenant breaches any provisions of this Lease or those Agreements which apply to Tenant. 

  
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 Landlord shall promptly notify Tenant in writing of (i) any enforcement, clean-up, removal or other governmental or regulatory action instituted, completed or threatened pursuant to any environmental laws of which Landlord is aware relating to the Premises; (ii) any claim made or
threatened by any person against Landlord, or the Premises (of which Landlord is aware), relating to damage, contribution, cost recovery, compensation, loss or injury resulting from or claimed to result from any Hazardous Materials at the Premises;
and (iii) any reports of which Landlord is aware made to any environmental agency arising out of or in connection with any Hazardous Materials in, on or about the Premises or with respect to any Hazardous Materials removed from the Premises,
including, any complaints, notices, warnings, reports or asserted violations in connection therewith. Landlord shall also provide to Tenant, as promptly as possible, and in any event within five (5) business days after Landlord first receives
or sends the same, copies of all claims, reports, complaints, notices, warnings or asserted violations relating in any way to the Premises or Landlord’s ownership use thereof. 

(d) Parking. Landlord grants to Tenant and Tenant’s customers, suppliers, employees and invitees, an exclusive license to use all
of the vehicle and truck parking spaces within the designated parking areas at the Premises as shown on Exhibit B for the use of motor vehicles or trucks, as applicable, during the Term of this Lease. Landlord reserves the right at any time
to promulgate reasonable and non-discriminatory rules and regulations relating to the use of such parking areas, including reasonable restrictions thereon. Overnight truck parking shall only be permitted in
the truck court of the Premises Land behind the Building, and any vehicle violating this or any other vehicle regulation adopted by Landlord is subject to removal at the owner’s expense. Tenant’s employees working at the Premises overnight
shall be allowed to park their passenger vehicles overnight in any parking stalls located on the Premises Land, and any vehicle violating this or any other vehicle regulation adopted by Landlord is subject to removal at the owner’s expense.
Notwithstanding anything herein to the contrary, Landlord shall not be required to monitor the usage of the exclusive parking area available for Tenant’s use on the Premises Land and Landlord shall grant no other party other than Tenant the
right to park in the parking areas on the Premises Land as shown on Exhibit B. 
 (e) California Accessibility Disclosure. For
purposes of Section 1938(a) of the California Civil Code, Landlord hereby discloses to Tenant, and Tenant hereby acknowledges, that the Premises have not undergone inspection by a Certified Access Specialist (CASp). In addition, the following
notice is hereby provided pursuant to Section 1938(e) of the California Civil Code: “A Certified Access Specialist (CASp) can inspect the subject premises and determine whether the subject premises comply with all of the applicable
construction- related accessibility standards under state law. Although state law does not require a CASp inspection of the subject premises, the commercial property owner or lessor may not prohibit the lessee or tenant from obtaining a CASp
inspection of the subject premises for the occupancy or potential occupancy of the lessee or tenant, if requested by the lessee or tenant. The parties shall mutually agree on the arrangements for the time and manner of the CASp inspection, the
payment of the fee for the CASp inspection, and the cost of making any repairs necessary to correct violations of construction-related accessibility standards within the premises.” In furtherance of and in connection with such notice:
(i) Tenant, having read such notice and understanding Tenant’s right to request and obtain a CASp inspection and with advice of counsel, hereby elects not to obtain such CASp inspection and, if Tenant should request a CASp inspection in
the future, such CASp inspection shall be subject to the following provisions (which constitute the mutual agreement of the parties as to the matters described in the last sentence of the foregoing notice): (A) Tenant shall have the one-time right to request for and obtain a CASp inspection, which request must be made, if at all, in a written notice delivered by Tenant to Landlord on or before the fifth (5th) anniversary of the Commencement Date; (B) any CASp inspection timely requested by Tenant shall be conducted (1) between the hours of 9:00 a.m. and 5:00 p.m. on any business day,
(2) only after ten (10) days’ prior written notice to Landlord of the date of such CASp inspection, (3) in a professional manner by a CASp designated by Landlord and without any testing that would damage the Premises, Building or
Project in any way, and (4) at Tenant’s sole cost and expense, 

  
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including, without limitation, Tenant’s payment of the fee for such CASp inspection, the fee for any reports prepared by the CASp in connection with such CASp inspection (collectively, the
“CASp Reports”) and all other costs and expenses in connection therewith; (C) Tenant shall deliver a copy of any CASp Reports to Landlord within five (5) business days after Tenant’s receipt thereof; (D) Tenant, at its
sole cost and expense, shall be responsible for making any improvements, alterations, modifications and/or repairs to or within the Premises to correct violations of construction-related accessibility standards including, without limitation, any
violations disclosed by such CASp inspection; and (E) if such CASp inspection identifies any improvements, alterations, modifications and/or repairs necessary to correct violations of construction-related accessibility standards relating to
those items of the Building and Project located outside the Premises that are Landlord’s repair obligations as set forth in this Lease, including, without limitation, Subparagraph 13(b) below, then Landlord shall perform such improvements,
alterations, modifications and/or repairs as and to the extent required by applicable laws to correct such violations, and Tenant shall reimburse Landlord for the cost of such improvements, alterations, modifications and/or repairs within ten
(10) business days after Tenant’s receipt of an invoice therefor from Landlord. Notwithstanding the foregoing, if Landlord obtains a CASp inspection for the Premises, Building or Project (which inspection shall be at Landlord’s sole
cost and expense, including, without limitation, Landlord’s payment of the fee for such CASp inspection, the fee for the CASp Reports, and all other costs and expenses in connection therewith), then Landlord, at its sole cost and expense, shall
be responsible for making any improvements, alterations, modifications and/or repairs to the Premises, Building or Project to correct violations of construction- related accessibility standards including, without limitation, any violations disclosed
by such CASp inspection. 
 (f) Survival. The provisions of this Paragraph 8 shall survive any termination of this Lease. 

9. SURRENDER OF PREMISES; HOLDING OVER. 

Upon the expiration of the Term of this Lease including any extension periods, Tenant shall surrender to Landlord the Premises and all Tenant
Improvements and/or alterations in good condition, except for ordinary wear and tear, damage by casualty, and alterations Tenant has the right or is obligated to remove under the provisions of Paragraph 14 herein. Subject to Paragraph 14, Tenant
shall remove all personal property and equipment including, without limitation, all trade and moveable property and equipment fixtures and shall perform all restoration made necessary by the removal of any alterations or Tenant’s personal
property and equipment before the expiration of the Term, including, for example, patching any material holes in wall surfaces; provided that nothing herein shall require Tenant to repaint any wall surfaces. Landlord may elect to retain or dispose
of in any manner Tenant’s personal property not removed from the Premises by Tenant prior to the expiration of the Term. Unless due to the gross negligence or willful misconduct of Landlord or Landlord Indemnified Parties, Tenant waives all
claims against Landlord for any damage to Tenant resulting from Landlord’s retention or disposition of Tenant’s personal property. Tenant shall be liable to Landlord for Landlord’s commercially reasonable costs for storage, removal or
disposal of Tenant’s personal property. 
 If Tenant, with Landlord’s consent, remains in possession of the Premises after
expiration or termination of the Term, or after the date in any notice given by Landlord to Tenant terminating this Lease, such possession by Tenant shall be deemed to be a
month-to-month tenancy terminable on written thirty (30) day notice at any time, by either party. All provisions of this Lease, except those pertaining to Term and
rent, shall apply to the month-to- month tenancy. During such month-to-month tenancy,
Tenant shall pay monthly rent in an amount equal to (i) 125% for the first two (2) months, and (ii) 150% for any period thereafter, of Basic Rent for the last full calendar month during the immediately preceding Term plus 100% of additional
rent as provided in Paragraph 11 (Taxes), Paragraph 13 (Maintenance), Paragraph 16 (Insurance), subject to increase as provided therein. Any such holdover rent shall be paid on a per month basis without reduction for partial months during the
holdover. Acceptance by Landlord 

  
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of rent after such expiration or earlier termination shall not constitute consent to a hold over hereunder or result in an extension of this Lease. This paragraph shall not be construed to create
any express or implied right to holdover beyond the expiration of the Term or any extension thereof. Commencing after the first forty-five (45) days of any holdover period, if Tenant fails to surrender the Premises after expiration or
termination of the Term, Tenant shall indemnify, defend and hold harmless Landlord from all loss or liability, including, without limitation, any loss or liability resulting from any claim against Landlord made by any succeeding tenant founded on or
resulting from Tenant’s failure to surrender and losses to Landlord due to lost opportunities to lease any portion of the Premises to succeeding tenants, together with, in each case, actual, reasonable attorneys’ fees and costs. 

10. SIGNAGE. 
 Landlord and Tenant agree
that Tenant shall have the exclusive right to install signs at, in and on the Premises and the Premises Land in such number and size as may be approved as provided below in this Paragraph; provided, however, that Tenant, subject to the terms and
conditions of this Paragraph 10, shall have the right to install at least one (1) exterior sign on the Building and one (1) monument sign located on the Premises Land. Tenant at Tenant’s sole cost and expense shall install and
maintain Tenant’s identification sign(s) in such designated locations in accordance with this Paragraph 10 or in other such locations in accordance with applicable laws and approved by Landlord in writing which approval shall not be
unreasonably withheld, conditioned or delayed. For the avoidance of doubt, Landlord shall not grant third parties any signage rights at, in and on the Premises or the Premises Land. The number, size, design, color and other physical aspects of
permitted sign(s) shall be subject to: (i) Landlord’s written approval prior to installation, which approval shall not be unreasonably withheld, conditioned or delayed, (ii) any covenants, conditions or restrictions encumbering the
Premises or Building, (iii) any applicable municipal or governmental permits and approvals and Landlord shall not disapprove any signs that were approved by the applicable governmental authorities having jurisdiction over Tenant’s signage
(so long as Tenant complies with any Signage Programs (as defined below)), and (iv) any non-discriminatory signage programs for the Project adopted by Landlord, including but not limited to, the signage
program attached hereto as Exhibit G. The cost of the sign(s), including the installation, maintenance and removal thereof, shall be at Tenant’s sole cost and expense. If Tenant fails to maintain its sign(s), or if Tenant fails to remove
same upon termination of this Lease and repair any damage caused by such removal, including, without limitation, repainting the affected area of the Building (if required by Landlord, in Landlord’s sole but reasonable judgment), Landlord may do
so at Tenant’s expense. Tenant shall reimburse Landlord for all reasonable costs incurred by Landlord to effect such maintenance or removal, which amount shall be deemed additional rent, and shall include, without limitation, all sums
disbursed, incurred or deposited by Landlord, including Landlord’s costs, expenses and actual reasonable attorneys’ fees. Any sign rights granted to Tenant under this Lease are personal to Tenant and any Permitted Transferee and may not be
otherwise assigned, transferred or otherwise conveyed to any assignee or subtenant of Tenant without Landlord’s prior written consent, which consent Landlord may withhold in its sole and absolute discretion. 

11. TAXES. 
 (a) Personal Property
Taxes. Tenant shall pay before delinquency all taxes, assessments, license fees and public charges levied, assessed or imposed upon its business operations as well as upon all trade fixtures, leasehold improvements, merchandise and other
personal property in or about the Premises. 
 (b) Real Property Taxes. Tenant shall pay, as additional rent, Tenant’s Share
(i.e., 100%, provided if the Premises is not on its own separate legal parcel, Tenant shall pay the Premises Land’s pro-rata share (calculated on a square foot basis) of such applicable Real Property
Taxes for the applicable 

  
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legal parcel(s) that the Premises Land is a part) of all Real Property Taxes, including all taxes, assessments (general and special) and other impositions or charges which may be taxed, charged,
levied, assessed or imposed with respect to any calendar year or part thereof included within the Term upon all or any portion of or in relation to the Premises or any portion thereof, any leasehold estate in the Premises or measured by rent from
the Premises, including any increase caused by the transfer, sale or encumbrance of the Premises or any portion thereof. For purposes of this Subparagraph 11(b), the Premises Land’s “pro-rata
share” shall be a fraction, the numerator of which is the total square footage of the Premises Land and the denominator of which is the total square footage of the land contained in the legal parcel(s) of which the Premises Land is a part.
Landlord agrees to use commercially reasonable efforts to cause a parcel map for the Project to be recorded in the official records of the County of Los Angeles within a commercially reasonable amount of time after the date of this Lease in order to
create a separate legal parcel for the Premises Land for assessment of Real Property Taxes. “Real Property Taxes” shall also include any form of assessment, levy, penalty, license fee, charge or tax (other than estate, inheritance, net
income or franchise taxes) imposed by any authority having a direct or indirect power to tax or charge, including, without limitation, any city, county, state, federal or any improvement or other district, whether such tax is: (1) determined by
the area of the Premises or the rent or other sums payable under this Lease; (2) upon or with respect to any legal or equitable interest of Landlord in the Premises or any part thereof; (3) upon this transaction or any document to which
Tenant is a party creating a transfer in any interest in the Premises; (4) in lieu of or as a direct substitute in whole or in part of or in addition to any real property taxes on the Premises; (5) based on any parking spaces or parking
facilities provided at the Premises; (6) in consideration for services, such as police protection, fire protection, street, sidewalk and roadway maintenance, refuse removal or other services that may be provided by any governmental or
quasi-governmental agency from time to time which were formerly provided without charge or with less charge to property owners or occupants; or (7) related to Landlord’s status as an owner and/or manager of real property within the City of
Long Beach. Tenant shall pay Real Property Taxes on the date any taxes or installments of taxes are due and payable as determined by the taxing authority, evidenced by the tax bill. Landlord shall determine and notify Tenant of the amount of Real
Property Taxes not less than thirty (30) days in advance of the date such tax or installment of taxes is due and payable. In the event Landlord fails to deliver such timely determination and notice to Tenant, then Tenant shall have thirty
(30) days from receipt of such notice to remit payment of Real Property Taxes to Landlord. The foregoing notwithstanding, upon notice from Landlord, Tenant shall pay, as additional rent, Real Property Taxes to Landlord in advance monthly
installments equal to one twelfth (1/12) of Landlord’s reasonable estimate of the Real Property Taxes payable under this Lease, together with monthly installments of Basic Rent, and Landlord shall hold such payments in a non-interest bearing account. Landlord shall determine and notify Tenant of any deficiency in the impound account Tenant shall pay any deficiency of funds in the impound account not less than thirty (30) days
in advance of the date such tax or installment of taxes is due and payable. In the event Landlord fails to deliver such timely deficiency determination and notice to Tenant, then Tenant shall have thirty (30) days from receipt of such notice to
remit payment of such deficiency to Landlord. If Landlord determines that Tenant’s impound account has accrued an amount in excess of the Real Property Taxes due and payable, then such excess shall be credited to Tenant within thirty
(30) days from receipt of said notice from Landlord. 
 (c) Notwithstanding anything to the contrary contained in this Paragraph 11,
Real Property Taxes shall not include any franchise taxes or taxes imposed upon income or profits of Landlord or any inheritance taxes, gift taxes, transfer taxes, successor or estate taxes, franchise taxes, excise taxes, net income taxes or late
payment charges and penalties in connection to the payment of taxes. Other than Real Property Taxes shown on the tax bill for the Premises, Landlord represents and warrants, to its actual knowledge, that there are no special or additional taxes or
assessments on the Property (including business improvement district taxes or sales taxes on rent) other than standard ad valorem taxes that will be payable by Tenant under the Lease. 

  
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 (d) Provided that Tenant is not in default beyond the applicable notice and cure period, and
Tenant has notified Landlord that Tenant wishes to contest Real Property Taxes (and Landlord fails to notify Tenant within ten (10) business days of receipt of Tenant’s notice that Landlord elects to contest Real Property Taxes), then
Tenant shall have the right, at its own expense, to contest the amount or validity, in whole or in part, of any Real Property Taxes by appropriate proceedings diligently conducted in good faith, but only after payment of such Real Property Taxes;
provided, however, Tenant’s right to contest Real Property Taxes shall be limited to one (1) contest in a calendar year. Tenant shall be entitled to the refund of any Real Property Taxes, penalty, fine and interest thereon received by
Landlord which have been paid by Tenant or which have been paid by Landlord but for which Landlord has been previously reimbursed in full by Tenant. Landlord shall not be required to join in any proceedings referred to in this Subparagraph 11(d)
unless the provisions of any law, rule or regulation at the time in effect shall require that such proceedings be brought by or in the name of Landlord, in which event Landlord shall join in such proceedings or permit the same to be brought in
Landlord’s name upon compliance with such conditions as Landlord may reasonably require but in no event at any cost or expense to Landlord. 
 12.
UTILITIES. 
 Landlord shall install, as part of the Base Building Work, separate meters to measure all utility services provided to
the Premises. Tenant shall pay directly to the utility companies providing such services, the cost of all water, gas, heat, light, power, sewer, electricity, telephone or other service metered, chargeable or provided to the Premises. Tenant agrees
that upon request from Landlord, Tenant shall provide Landlord with any energy usage data for the Premises including, without limitation, copies of utility bills for the Premises. Except as set forth below, Landlord shall not be liable in damages or
otherwise for any failure or interruption of any utility or other service furnished to the Premises. Except as set forth below, no such failure or interruption shall entitle Tenant to terminate this Lease or abate rent in any manner and Tenant
hereby waives the provisions of any applicable existing or future law, ordinance or regulation permitting the termination of this Lease due to an interruption, failure or inability to provide any services (including, without limitation, the
provisions of California Civil Code Section 1932(1)). Notwithstanding the foregoing, in the event that Tenant is prevented from using, and does not use, the Premises or any portion thereof, for seven (7) consecutive days (subject to
extension for delays caused by Tenant and/or force majeure, the “Eligibility Period”) as a result of Landlord’s failure to provide to the Premises any utilities for water, gas, heat, power, sewer or electricity (to the extent
Landlord’s obligation to provide hereunder or if resulting from Landlord’s failure to perform any of Landlord’s maintenance obligations under Subparagraph 13(b) of this Lease or due to the negligence or willful misconduct of Landlord
or its employees, agents or contractors), then Tenant’s obligation to pay Basic Rent, Tenant’s Share of Maintenance Expenses, Tenant’s Share of Real Property Taxes and Tenant’s Share of insurance costs shall be abated or reduced,
as the case may be, from and after the first (1st) day following the Eligibility Period and continuing during such time that Tenant continues to be so prevented from using, and does not use, the
Premises or a portion thereof, in the proportion that the rentable square feet of the portion of the Premises that Tenant is prevented from using, and does not use, bears to the total rentable square feet of the Premises. 

13. MAINTENANCE. 
 (a) Performed by
Tenant. Except as provided below, Tenant shall maintain, repair and replace (as necessary) the interior, non-structural portions of the Premises in good condition, including, without limitation,
maintaining, repairing and replacing (as necessary) of all of the following: interior walls and glass; floor finishes; ceilings; telephone equipment and wiring; doors; exterior and interior windows and fixtures as well as, subject to the waiver of
subrogation, damage caused by Tenant, its agents, contractors, employees or invitees; provided, however, Tenant acknowledges and agrees that 

  
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Tenant shall be required to comply with the Boeing Provisions (as defined in Exhibit H attached hereto) if any of Tenant’s obligations under this Paragraph 13(a) require or permit Tenant to
penetrate the Premises Land’s soil. In such circumstances, Landlord and Tenant agree to promptly meet and confer regarding the applicable item of repair or maintenance to be performed by Tenant to ensure that Tenant complies with the Boeing
Provisions and Tenant agrees not to perform any such work until such meeting occurs. Tenant shall comply with the provisions of California Health and Safety Code Sections 26142 and 26145. Upon expiration or termination of this Lease, Tenant shall
surrender the Premises to Landlord in good condition and repair, except for reasonable wear and tear or damage caused by fire or other casualty and repairs for which Landlord is responsible under this Lease. Tenant shall, at its own expense,
provide, install and maintain in good condition all of its personal property required in the conduct of its business on the Premises. If Tenant refuses or neglects to repair, replace and maintain the Premises as required hereunder and to the
reasonable satisfaction of Landlord, Landlord may at any time following ten (10) days from the date on which Landlord shall make a written demand on Tenant to effect such repair, replacement and maintenance (emergencies excepted in which case
no such demand shall be required), enter upon the Premises and make such repairs, replacements and/or maintenance without liability to Tenant for any loss or damage which might occur to Tenant’s merchandise, fixtures or other property or to
Tenant’s business by reason thereof, and upon completion thereof, Tenant shall pay to Landlord, Landlord’s costs for making such repairs plus ten percent (10%) for overhead, upon presentation of a bill therefor. Said bill shall include
interest at the Interest Rate on said costs from the date of completion of the maintenance and repairs by Landlord. 
 (b) Performed by
Landlord. Subject to reimbursement by Tenant as hereinafter provided, Landlord shall be responsible to repair and maintain (including necessary replacements), in good working order and condition, all structural elements of the Premises and the
Building, which shall include only the foundations, load bearing and exterior walls (including painting), the slab and subflooring; the roof and roof system and skylights; the electrical, plumbing and sewerage systems, including without limitation,
those portions of the systems lying outside the Premises; utility facilities up to their connection within the Building; the exterior of the Building, including, without limitation, the paved and hardscaped parking and driveway areas (including
resurfacing and restriping); window frames, gutters and downspouts on the Building; the heating, ventilating and air conditioning system servicing the Premises (provided that Tenant, at Tenant’s sole and absolute discretion, shall have the
right, upon thirty (30) days prior written notice to Landlord, to assume such maintenance responsibilities of the heating, ventilating and air conditioning system serving the Premises, and Landlord shall therefore reduce such Maintenance
Expenses to reflect that Tenant is directly paying for the maintenance and repair of the heating ventilating and air conditioning systems, provided further that Tenant maintain a quarterly service contract for said heating, ventilating and air
conditioning system, which service contract and service provider shall be reasonably approved by Landlord); the outside areas of the Premises and every part thereof, including, without limitation, the soil, landscaping (including replacement
thereof), sprinkler system, walkways, parking areas (including periodic sweeping), signs, site lighting and pest control. In connection with the foregoing, Landlord shall maintain, at Tenant’s cost, preventative maintenance policies for
(i) roof maintenance and inspection, and (ii) repairs and maintenance of the HVAC equipment (unless Tenant has elected to assume such maintenance responsibilities as provided herein). In addition, Landlord agrees to enforce, at
Landlord’s expense, any contractor and manufacturer warranties applicable to the Building and the Base Building Work. Except as otherwise expressly provided to the contrary in this Lease, Landlord shall not be liable for any failure to make any
such repairs or any maintenance unless such failure shall persist for a period of thirty (30) days after written notice of the need of such repairs or maintenance is given to Landlord by Tenant; provided, however, that if the nature of
Landlord’s obligation is such that more than thirty (30) days is required for performance, then Landlord shall have such reasonable additional time to perform such obligation provided and only so long as Landlord commences performance
within such thirty (30) day period and thereafter diligently prosecutes the same to completion. 

  
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 Notwithstanding the foregoing, Landlord agrees, at its sole cost and expense and not as a
part of Maintenance Expenses, to repair, maintain and/or replace as reasonably necessary to maintain the Building as a Class “A” industrial building, the following structural portions of the Premises: (i) the structural portions of
the roof (excluding any portion of the roof membrane which shall be maintained by Landlord as part of Maintenance Expenses); (ii) the slab and foundation; and (iii) the load bearing walls; provided, however, to the extent such repair and/or
replacement is necessitated by the negligence or willful misconduct of Tenant Parties and subject to the waiver of subrogation, Tenant shall reimburse Landlord for all such costs incurred by Landlord to complete such repairs and/or replacements in
accordance with the terms of this Subparagraph 13(b) above. Further, during the initial Term of this Lease, Landlord agrees, at its sole cost and expense and not as a part of Maintenance Expenses, to replace as reasonably necessary to maintain the
Building as a Class “A” industrial building, the concrete truck court; provided, however, to the extent such replacement is necessitated by the negligence or willful misconduct of Tenant Parties and subject to the waiver of subrogation,
Tenant shall reimburse Landlord for all such costs incurred by Landlord to complete such replacements in accordance with the terms of this Subparagraph 13(b) above. Landlord shall perform all obligations of Landlord under the Boeing Purchase
Agreement and the Environmental Easement all at Landlord’s sole cost and expense and not as part of Maintenance Expenses. 

Notwithstanding the foregoing if Tenant provides written notice to Landlord of an event or circumstance which requires the action of Landlord
with respect to repair and/or maintenance which is the express responsibility of Landlord under this Lease, and Landlord fails to provide such action within a reasonable period of time, given the circumstances, after the receipt of such written
notice, but in any event not later than 30 days after receipt of such written notice (or such longer time as is reasonably necessary if more than thirty (30) days are reasonably required to complete such repairs and Landlord promptly commences
such repairs and thereafter diligently completes same), then Tenant may proceed to take the required action upon delivery of an additional 7 business days’ written notice to Landlord specifying that Tenant is taking such required action (and
such action is not performed by Landlord prior to the expiration of such 7-business day period), and if such action was required under the express terms of the Lease to be taken by Landlord, then Tenant shall
be entitled to prompt reimbursement by Landlord of Tenant’s reasonable and documented costs and expenses in taking such action. Such reimbursement shall be made within thirty (30) days after Landlord’s receipt of invoice of such costs
and expenses; provided, however, that notwithstanding the foregoing to the contrary, if (i) Landlord delivers to Tenant prior to the expiration of said 30-day period described above, a written objection
to Tenant’s right to receive any such reimbursement based upon Landlord’s good faith claim that such action did not have to be taken by Landlord pursuant to the terms of this Lease, or (ii) Landlord delivers to Tenant, within thirty
(30) days after receipt of Tenant’s invoice, a written objection to the payment of such invoice based upon Landlord’s good faith claim that such charges are excessive (in which case, Landlord shall reimburse Tenant, within such thirty
(30) day period, the amount Landlord contends would not be excessive), then Tenant shall not be entitled to such reimbursement, but Tenant, as its sole remedy, may proceed to claim a default by Landlord or, if elected by either Landlord or
Tenant, the matter shall proceed to resolution pursuant to the procedures for a proceeding set forth in Subparagraph 34(n)(ii) below. If Tenant prevails in such proceeding, the amount of the award shall be paid by Landlord to Tenant within thirty
(30) days after the decision is made in such proceeding. In the event Tenant takes such action, and such work will affect the Building’s life safety systems, HVAC systems, any common areas of the Project or other areas outside the Building
and/or the exterior appearance of the Building or Project (or any portion thereof), and/or the structural integrity of the Building, Tenant shall use only those contractors used by Landlord in the Project for such work unless such contractors are
unwilling or unable to perform such work or Landlord does not provide Tenant with their name, in which event Tenant may utilize the services of any other qualified contractor who normally and regularly performs similar work in comparable first-class
industrial buildings in the general vicinity of the Building. Tenant shall use commercially reasonable efforts to mitigate any damage resulting from a Landlord default under this Lease. 

  
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 (c) Reimbursement by Tenant. Prior to the commencement of each calendar year,
Landlord shall give Tenant a written estimate of the expenses Landlord anticipates will be incurred for the ensuing calendar year with respect to the maintenance and repair to be performed by Landlord as herein described (the “Maintenance
Expenses”). Tenant shall pay, as additional rent, such estimated expenses in equal monthly installments in advance on or before the first day of each month concurrent with its payment of Basic Rent. Within ninety (90) days after the end of
each calendar year, Landlord shall furnish Tenant a statement showing in reasonable detail the actual expenses incurred for the period in question (the “Expense Statement”) and the parties shall within thirty (30) days thereafter to
make payment or allowance as necessary to adjust Tenant’s estimated payments to the actual expenses as shown by applicable periodic statements submitted by Landlord. If Landlord shall determine at any time that the estimate of expenses for the
current calendar year is or will become materially inadequate to meet all such expenses for any reason, Landlord shall immediately determine the appropriate amount of such inadequacy and issue a supplemental estimate as to such expenses, and Tenant
shall pay any increase in the estimated expenses as reflected by such supplemental estimate within thirty (30) days following receipt of written request from Landlord. Tenant’s failure to timely pay any of the charges in connection with
the performance of its maintenance and repair obligations to be paid under this Paragraph 13 shall constitute a material default under this Lease. 

Further notwithstanding anything to the contrary contained in this Lease, Maintenance Expenses will not include: (i) the cost of any work
or service performed for any other tenant or occupant of the Project; (ii) any cost to the extent Landlord is reimbursed therefor out of insurance proceeds or would have been reimbursed if Landlord had carried the insurance required of Landlord
under this Lease; (iii) costs of repairs, alterations or replacements caused by the exercise of rights of eminent domain; (iv) any expense for which Landlord is compensated by proceeds of indemnities or warranties (it being understood that
Landlord shall use commercially reasonable efforts to obtain any reimbursements to which it is entitled thereunder); (v) general overhead and administrative expenses of Landlord relating to maintaining Landlord’s existence and functioning
either as a corporation, partnership or other entity; (vi) costs, penalties or fines incurred due to the violation by the Landlord of any applicable laws; (vii) any costs incurred to test, clean up, contain, abate, remove, remediate or
otherwise remedy Hazardous Materials in or around the Project which exist in violation of applicable laws prior to the date of this Lease or for which Landlord or Boeing is responsible for under the Boeing Purchase Agreement or the Environmental
Easement; (viii) costs for acquiring, moving, maintaining, repairing or insuring any sculpture, paintings and other art objects at the Building or Project; (ix) except to the extent Landlord is required to incur any costs as a result of
Tenant Triggered Events, any capitalized costs incurred by Landlord in order to bring the Property into compliance with the requirements of any applicable laws, provided that such non-compliance exists as of
the TCO Date; (x) the wages and benefits of any employee who does not devote substantially all of his or her employed time to the Project unless such wages and benefits are prorated to reflect time spent on operating and managing the Project vis-a-vis time spent on matters unrelated to operating and managing the Project; provided that in no event shall Maintenance Expenses include wages and/or benefits
attributable to personnel above the level of portfolio manager; (xi) depreciation, interest on debt or amortization on any mortgage or mortgages; (xii) any and all costs relating to activities for the marketing, solicitation and execution
or new or renewal of leases of space in the Project, including, without limitation, advertising, printing costs and brochures, space planning, tenant allowances, leasehold improvements, brokerage commission and other tenant concessions;
(xiii) cost of decorating, redecorating, or tenant installations incurred in connection with preparing space for a new tenant (or retaining a tenant); (xiv) costs associated with the sale or refinancing of the Building or any other portion of
the Project, including, without limitation, consulting or brokerage commissions, origination fees or points, and interest cost or charges; (xv) except with respect to any increase in Real Property Taxes caused by the transfer, sale or
encumbrance of the Premises or any portion thereof, costs associated with the acquisition, sale or financing of the fee, ground lease (including payments due under a ground lease), air rights or development rights with respect to the Project or any
portion thereof; (xvi) the cost of 

  
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correcting defects in the original construction of the Project as set forth in Subparagraph 4(b) of this Lease; (xvii) costs incurred by Landlord for voluntary improvements or replacements
(including structural additions), repairs, equipment and tools (as distinct from repairs or replacements of existing elements of the Project or Building as of the Commencement Date other than the structural elements of (A) the Building and
(B) the roof) which are considered “capital” expenditures under GAAP except that capital expenditures that are (a) reasonably anticipated by Landlord to reduce the cost of operation or maintenance of the Project or the Building
or any portion thereof (in which event the cost of performing the same may be included in Maintenance Expenses only to the extent of the savings reasonably expected to be achieved), or (b) intended to promote safety, may be included in
Maintenance Expenses so long as the cost is amortized (including an interest factor of eight percent (8%) per annum) over the useful life (as determined in accordance with GAAP) and only the annual amortization is included each year in Maintenance
Expenses; (xviii) overhead and profit increments paid to subsidiaries or affiliates of Landlord for services provided to the Project to the extent the same exceeds the costs that would generally be charged for such services if rendered on a
competitive basis (based upon a standard of similar industrial buildings in the general market area of the Premises) by unaffiliated third parties capable of providing such service; (xix) penalties and interest charges as a result of not paying
bills when due or within any grace period; (xx) costs including attorneys’ fees arising from claims, potential disputes or disputes between Landlord and other tenants of the Project; (xxi) any profit related to the excess collection
of Maintenance Expenses or collection of Maintenance Expenses in excess of 100% of the actual Maintenance Expenses; (xxii) accounting and legal fees related to ownership, construction, leasing, sale or litigation, including Landlord’s
general corporate overhead and general administrative expenses; (xxiii) penalties and fines of any kind including non-compliance with any applicable building or fire code in existence of the TCO Date of
the Lease, except to the extent as a result of Tenant Triggered Events; (xxiv) any reserves (of any kind); (xxv) costs incurred in connection with any violations of the ADA existing as of the TCO Date except to the extent as a result of Tenant
Triggered Events; (xxvi) costs to repair any damage caused by fire or other casualty (exclusive of a commercially reasonable deductible not to exceed $100,000) except to the extent caused by the acts or omissions of Tenant and/or the Tenant
Parties; (xxvii) management or administrative fees except for a management fee not to exceed two percent (2%) of the rent (i.e., Basic Rent and additional rent) payable by Tenant pursuant to the terms of this Lease; (xxiii) costs to
inspect, repair, maintain, operate or replace the Remediation Equipment or the vapor barrier for the Building and/or the Project, except to the extent caused by the wrongful acts or omissions of Tenant and/or the Tenant Parties; (xxiv) any
costs which solely benefit another building at the Project or the premises land on which such other building is situated; (xxv) any impact or mitigation costs or expenses (including contributions) associated with or attributable to the initial
construction of the Building or the Project, regardless of when payable or paid; or (xxvi) costs arising from the gross negligence or willful misconduct of Landlord or its agents, employees or contractors, subject to Tenant’s waiver of
subrogation. 
 Landlord shall keep or cause to be kept separate and complete books of account covering costs and expenses incurred in
connection with its maintenance and repair of the Building and outside areas, which costs and expenses shall include, without limitation, the actual costs and expenses incurred in connection with labor and material utilized in performance of the
maintenance and repair obligations hereinafter described, public liability, property damage and other forms of insurance which Landlord may, or is required to, maintain, employment of such personnel as Landlord may deem reasonably necessary, payment
or provision for unemployment insurance, worker’s compensation insurance and other employee costs, depreciation of machinery and equipment used in connection with the maintenance of the outside areas, the cost of bookkeeping and accounting
services, assessments which may be levied against the Premises under any recorded covenants, conditions and restrictions, and any other items reasonable necessary from time to time to properly repair, replace and maintain the outside areas and any
interest paid in connection therewith. Landlord may elect to delegate its duties hereunder to a professional property manager. 

  
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 In the event of any dispute as to the amount of Tenant’s Share of Maintenance Expenses,
Tenant or the employees of an accounting firm selected by Tenant and reasonably satisfactory to Landlord (billing hourly and not on a contingency fee basis) will have the right, by prior written notice (“Audit Notice”) given within one
hundred eighty (180)) days (“Audit Period”) following receipt of an Expense Statement and at reasonable times during normal business hours, to audit Landlord’s accounting records with respect to Maintenance Expenses relative to the
year to which such Expense Statement relates at the offices of Landlord’s property manager. In no event will Landlord or its property manager be required to (i) create any ledgers or schedules not already in existence, (ii) incur any
costs or expenses relative to such inspection, or (iii) perform any other tasks other than making available such accounting records as aforesaid. Except for materials reasonably necessary for the auditor to support its audit results, neither
Tenant nor its auditor may leave the offices of Landlord’s property manager with copies of any materials supplied by Landlord. Tenant must pay Tenant’s Share of Maintenance Expenses when due pursuant to the terms of this Lease and may not
withhold payment of Maintenance Expenses or any other rent pending results of the audit or during a dispute regarding Maintenance Expenses. Provided Tenant agrees to pay the actual copying costs, Landlord agrees to provide Tenant with copies of the
applicable books and records. The audit must be completed within ninety (90) days of the date of Tenant’s Audit Notice (so long as Landlord provides Tenant with access to the relevant accounting records as described above within thirty
(30) days after receipt of Tenant’s Audit Notice)) and the results of such audit shall be delivered to Landlord within thirty (30) days of the completion of Tenant’s audit. If Tenant does not comply with any of the aforementioned
time frames, then such Expense Statement will be conclusively binding on Tenant. If such audit or review correctly reveals that Landlord has overcharged Tenant, then within thirty (30) days after the results of such audit are made available to
Landlord, Landlord agrees to reimburse Tenant the amount of such overcharge. If the audit reveals that Tenant was undercharged, then within thirty (30) days after the results of the audit are made available to Tenant, Tenant agrees to reimburse
Landlord the amount of such undercharge. Tenant agrees to pay the cost of such audit, provided that if the audit reveals that Landlord’s determination of the Building’s and/or Project’s total Maintenance Expenses as set forth in the
relevant Expense Statement was in error in Landlord’s favor by more than three percent (3%) of the total amount of such Maintenance Expenses pursuant to such Expense Statement, then Landlord agrees to pay the reasonable out-of-pocket cost of such audit incurred by Tenant. To the extent Landlord must pay the cost of such audit, such cost shall not exceed a reasonable hourly charge for a
reasonable amount of hours spent in connection with the audit, and in no event will exceed the amount of the error. Tenant agrees to keep the results of the audit confidential (provided that Tenant may disclose the results of the audit to its
agents, employees and contractors) and will cause its agents, employees and contractors to keep such results confidential; provided, however, the confidentiality requirements of this paragraph shall not pertain to any information in the public
domain, or which Tenant is required to disclose by law or in connection with any dispute between the parties. To that end, Landlord may require Tenant and its auditor to execute a commercially reasonable confidentiality agreement provided by
Landlord. 
 Except as expressly provided in this Lease, there shall be no abatement of rent and no liability of Landlord by reason of any
injury to or interference with Tenant’s business arising from the making of any repairs, alterations or improvements in or to any portion of the Building or the Premises or in or to fixtures, appurtenances and equipment therein. Tenant waives
the right to make repairs at Landlord’s expense under Sections 1941 and 1942 of the California Civil Code or any similar law, statute or ordinance now or hereafter in effect and under the provisions of California Health and Safety Code
Section 26143 with respect to those maintenance obligations which are Tenant’s responsibility under the terms of this Lease. 

  
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 14. ALTERATIONS. 

(a) Alterations. Tenant shall not make any alterations to the Premises, including any changes to the existing landscaping, without
Landlord’s prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed. If Landlord consents to such alterations, Tenant acknowledges and agrees that it shall be required to comply with the Boeing Provisions
if any of Tenant’s alterations to the Premises, Building and/or the Premises Land require or permit Tenant to penetrate the Premises Land’s soil. In such circumstances, Landlord and Tenant agree to promptly meet and confer regarding the
applicable alterations to be performed by Tenant to ensure that Tenant complies with the Boeing Provisions and Tenant agrees not to perform any such alterations until such meeting occurs. Any alterations made shall remain on and be surrendered with
the Premises upon expiration of the Term, except that Landlord may, at the time of Landlord’s consent to any alterations (provided Tenant requests that Landlord make such determination at the time of Tenant’s request for consent), elect to
require Tenant to remove any alterations which Tenant may have made to the Premises; provided, however, that Tenant shall not be required to remove (A) that certain portion of the office space constructed pursuant to the terms and conditions of
the Tenant Work Letter, which is outlined in red on Exhibit M attached hereto (“Remaining Office Space”), and (B) that certain portion of the Tenant’s Work (other than any office improvements) which is expressly described on
Exhibit N attached hereto (“Remaining Tenant’s Work”). Notwithstanding the foregoing, Tenant agrees that Tenant shall be obligated to remove any epoxy floor coatings that Tenant installs in the Premises pursuant to the terms and
conditions of the Tenant Work Letter prior to the expiration or earlier termination of this Lease. If Landlord so elects in accordance with this Subparagraph 14(a), Tenant shall, at its own cost, restore the Premises to the condition prior to
Tenant’s alteration, before the last day of the Term. Notwithstanding anything to the contrary contained herein, Tenant may make cosmetic changes to the finish work in the Premises (the “Cosmetic Alterations”), without Landlord’s
consent, provided that the aggregate cost of any such alterations does not exceed One Hundred Thousand Dollars ($100,000.00) in any consecutive twelve (12) month period during the Term, and further provided that such alterations do not:
(i) require any structural or other substantial modifications to the Premises; (ii) require any changes to, nor adversely affect, the systems and equipment of the Building (including, without limitation, the sprinkler system); or
(iii) affect the exterior appearance of the Building or the Project. Tenant shall give Landlord at least twenty (20) days prior notice of such Cosmetic Alterations, which notice shall be accompanied by reasonably adequate evidence that
such alterations meet the criteria contained in this Paragraph 14. Notwithstanding the foregoing, Landlord shall not have the right to require Tenant to remove and restore any Cosmetic Alterations. 

(b) Standard of Work. Should Landlord consent in writing to Tenant’s alteration of the Premises (or in the event Landlord’s
consent is not required as provided in Subparagraph 14(a) above), Tenant shall contract with a reputable, licensed contractor approved by Landlord, which approval shall not be unreasonably withheld, conditioned or delayed, for the construction of
such alterations, shall secure all appropriate governmental approvals and permits, and shall complete such alterations with due diligence, in a first-class manner, and, if applicable, in compliance with plans and specifications approved by Landlord,
and in compliance with all applicable laws, statutes and regulations. Tenant shall pay all costs for such construction (including a commercially reasonable construction management fee payable to Landlord or Landlord’s property manager equal to
four percent (4%) of the total cost in connection with Tenant’s performance of any non-Cosmetic Alterations) and shall keep the Premises free and clear of all mechanics’ liens which may result from
construction by Tenant. Notwithstanding the foregoing sentence, such construction management fee shall not be applicable to the initial Tenant Improvements constructed by Tenant pursuant to the terms and conditions of the Tenant Work Letter prior to
December 31, 2020. Landlord shall have the right, but not the obligation, to inspect periodically the work on the Premises and Landlord may require changes in the method or quality of the work. 

  
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 (c) Liens. Tenant shall pay all costs for such construction and shall keep the
Premises free and clear of all mechanics’ and materialmens’ liens which may result from construction by Tenant. Tenant shall provide at least ten (10) days prior written notice to Landlord before any labor is performed, supplies
furnished or services rendered on or at the Premises and Landlord shall have the right to post on the Premises notices of non-responsibility. 

15. RELEASE AND INDEMNITY. 
 As material
consideration to Landlord, Tenant agrees that, except to the extent caused by the gross negligence or willful misconduct of Landlord, the Landlord Indemnified Parties (as hereinafter defined) or Landlord’s agents or contractors, and subject to
the waiver of subrogation requirements set forth in Paragraph 16 below and Tenant’s rights expressly set forth elsewhere in this Lease, Landlord, its agents,
successors-in-interest with respect to the Premises and their respective directors, officers, partners, members, employees, shareholders, agents and representatives and
the directors, officers, partners, members, employees, shareholders, agents and representatives of the partners or members of Landlord (collectively, the “Landlord Indemnified Parties”) shall not be liable to Tenant, its agents, employees,
invitees, licensees and other persons claiming under Tenant for: (i) any damage to any property entrusted to employees of the Premises, Landlord or the Landlord Indemnified Parties, (ii) loss or damage to any property by theft or
otherwise, (iii) consequential damages arising out of any loss of the use of the Premises or any equipment or facilities therein, or (iv) any injury or damage to property resulting from fire, explosion, falling plaster, steam, gas,
electricity, water or rain which may leak from any part of the Premises or from pipes, appliances or plumbing work therein or from the roof, street, sub-surface or from any other place or resulting from
dampness or any other causes whatsoever. Additionally, as material consideration to Landlord, Tenant agrees that, except to the extent caused by the negligence or willful misconduct of Landlord, the Landlord Indemnified Parties or Landlord’s
agents or contractors, and subject to the waiver of subrogation requirements set forth in Paragraph 16 below and Tenant’s rights expressly set forth elsewhere in this Lease, Landlord and the Landlord Indemnified Parties shall not be liable to
Tenant, its agents, employees, invitees, licensees and other persons claiming under Tenant for any injury to persons resulting from fire, explosion, falling plaster, steam, gas, electricity, water or rain which may leak from any part of the Premises
or from pipes, appliances or plumbing work therein or from the roof, street, sub-surface or from any other place or resulting from dampness or any other causes whatsoever. Landlord and/or the Landlord
Indemnified Parties shall not be liable for interference with light or other incorporeal hereditaments, nor shall Landlord or the Landlord Indemnified Parties be liable for any latent defects in the Premises except as expressly set forth in
Subparagraph 4(b) of this Lease. Tenant shall give prompt notice to Landlord in case of fire or accidents in the Premises and of defects therein or in the fixtures or equipment located therein. 

To the fullest extent permitted by law and except to the extent caused by the negligence or willful misconduct of Landlord or the Landlord
Indemnified Parties (as defined above), and subject to the waiver of subrogation requirements set forth in Paragraph 16 below, Tenant agrees to indemnify, defend (with counsel reasonably selected by Tenant’s insurer) and hold harmless Landlord
and the Landlord Indemnified Parties from (i) all claims, actions liabilities, and proceedings arising from Tenant’s use of the Premises or the conduct of its business or from any activity, work or thing done by or on behalf of Tenant or
any of the Tenant Parties, in or about the Premises and any breach or default in the performance of any obligation to be performed by Tenant under the terms of this Lease, or arising from any act, neglect, fault or omission of Tenant, or of its
agents, contractors, employee or invitees, and (ii) any and all reasonable costs, attorneys’ fees, expenses and liabilities incurred with respect to any such claims, actions, liabilities, or proceedings (collectively, the “Indemnified
Claims”), and in the event any Indemnified Claims shall be brought against Landlord, Tenant, upon notice from Landlord, shall defend the same at Tenant’s expense by counsel reasonably approved in writing by Landlord. Tenant hereby assumes
all risk of damage to property or injury to person in, upon or about the Premises from any cause whatsoever, and 

  
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Tenant hereby waives all its claims in respect thereof against Landlord. Notwithstanding anything in this Paragraph 15 to the contrary, the foregoing assumption of risk, release and indemnity
shall not apply to any Indemnified Claims to the extent resulting from the negligence or willful misconduct of Landlord or any of the Landlord Indemnified Parties and not insured (or required to be insured) by Tenant under this Lease (collectively,
the “Excluded Claims”) and Landlord shall indemnify, protect, defend and hold harmless Tenant and Tenant’s officers, agents and employees (collectively, “Tenant Indemnified Parties”) from and against any such Excluded
Claims, but only to the extent Landlord’s liability is not waived and released by Tenant pursuant to the waivers of subrogation required of Tenant in Paragraph 16 below (provided, however, that Landlord’s indemnity shall, in no event,
extend to loss of profits, loss of business or other consequential damages incurred by Tenant or any Tenant Indemnified Parties). Each party’s agreement to indemnify the other pursuant to this Paragraph 15 is not intended and shall not relieve
any insurance carrier of its obligations under policies required to be carried by the indemnifying party pursuant to the provisions of this Lease. 

As used herein, the term “liabilities” shall include all suits, actions, claims and demands and all expenses (including
attorneys’ fees and costs of defense) incurred in or about any such liability and any action or proceeding brought thereon. It is understood that payment shall not be a condition precedent to recovery upon the foregoing indemnity. 

16. INSURANCE. 
 (a) Effective as of the
earlier of (1) the date Tenant enters or occupies the Premises or (2) the Commencement Date, and continuing throughout the Term, Tenant shall maintain the following insurance policies: 

 

	 	(i)	 Commercial General Liability Insurance. Commercial general liability insurance (including property
damage, bodily injury and personal injury coverage) in amounts of $1,000,000.00 per occurrence and $2,000,000.00 in the annual aggregate on a per location basis in primary coverage, with an additional $5,000,000.00 per occurrence and $5,000,000.00
annual aggregate on a per location basis in umbrella/excess liability coverage or, following the expiration of the initial Term, such other amounts as Landlord may from time to time reasonably require provided that any higher amounts required are
customarily required by comparable institutional owners of comparable Class A industrial buildings in the same market area (and naming as additional insureds Landlord and its subsidiaries, Landlord’s property management company,
Landlord’s asset management company, J.P. Morgan Investment Management, Inc. and, if requested in writing by Landlord, Landlord’s Mortgagee), against all liability for injury to or death of a person or persons or damage to property arising
from the use and occupancy of the Premises. If the use and occupancy of the Premises include any activity or matter that is or may be excluded from coverage under a commercial general liability policy (e.g., the sale, service or consumption of
alcoholic beverages), Tenant shall obtain such endorsements to the commercial general liability policy or otherwise obtain insurance to insure all liability arising from such activity or matter (including liquor liability, if applicable) in such
amounts as Landlord may reasonably require, provided that such are customarily required by comparable institutional owners of comparable Class A industrial buildings in the same market area. Tenant will also ensure this policy contains or
permits a waiver of subrogation in favor of the additional insureds; 

  
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	 	(ii)	 Commercial Property Insurance. (1) Cause of loss-special risk form (formerly “all-risk”) or its equivalent insurance (including, but not limited to, sprinkler leakage, ordinance and law, sewer back-up, windstorm and collapse coverage)
covering the full value of all alterations and improvements and betterments in the Premises (excluding the Base Building Work), naming Landlord and Landlord’s Mortgagee as additional loss payees as their interests may appear, and (2) cause
of loss-special risk form (formerly “all-risk”) or its equivalent insurance covering the full value of all furniture, trade fixtures, equipment and personal property (including property of Tenant or
others) in the Premises or otherwise placed in the Project by or on behalf of a Tenant Party (including Tenant’s Off-Premises Equipment (i.e., any equipment located outside of the Building)). Tenant will
also ensure this policy contains a waiver of subrogation in favor of the additional insureds; 

  

	 	(iii)	 Contractual Liability Insurance. Contractual liability insurance sufficient to cover Tenant’s
indemnity obligations hereunder (exclusive of Tenant’s breach of this Lease) (but only if such contractual liability insurance is not already included in Tenant’s commercial general liability insurance policy and umbrella/excess liability
insurance policy); 

  

	 	(iv)	 Commercial Auto Liability Insurance. Commercial auto liability insurance (if applicable) covering
automobiles owned, hired or used by Tenant in carrying on its business with limits not less than $1,000,000.00 combined single limit for each accident, insuring Tenant (and naming as additional insureds Landlord, Landlord’s property management
company, Landlord’s asset management company and, if requested in writing by Landlord, Landlord’s Mortgagee) and scheduled to the umbrella/excess liability insurance policy. Tenant will also ensure this policy contains a waiver of
subrogation in favor of the additional insureds; 

  

	 	(v)	 Worker’s Compensation Insurance; Employer’s Liability Insurance. Worker’s compensation
insurance of $1,000,000 (or such larger amount if required by local statute) and employer’s liability insurance of $1,000,000; and 

  

	 	(vi)	 Business Interruption Insurance. Business interruption insurance in an amount reasonably acceptable to
Landlord (but not to exceed an amount equal to twelve (12) months of rent). 

 (b) Tenant’s Insurance
Primary. Tenant’s insurance shall be primary and non-contributory when any policy issued to Landlord provides duplicate or similar coverage, and in such circumstance Landlord’s policy will be
excess over Tenant’s policy(ies). 
 (c) Tenant’s Vendors/Contractors. Tenant shall require any vendors or contractors that
it shall hire to perform work/services on Premises to procure similar insurance, as required by Landlord of Tenant in this contract including naming as additional insureds Landlord and its subsidiaries, Landlord’s property management company,
Landlord’s asset management company, J.P. Morgan Investment Management, Inc. and, if requested in writing by Landlord, Landlord’s Mortgagee. 

(d) Certificates of Insurance; Form of Insurance. Tenant shall furnish to Landlord certificates of such insurance and such other
evidence satisfactory to Landlord of the maintenance of all 

  
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insurance coverages required hereunder on or prior to the earlier of the Commencement Date or the date Tenant enters or occupies the Premises (in any event, within ten (10) days of the
effective date of coverage), and at each renewal of said insurance. All such insurance policies shall be in form reasonably satisfactory to Landlord and issued by companies with an A.M. Best rating of not less than A+:VIII or better. However, no
review or approval of any insurance certificate or policy by Landlord shall derogate from or diminish Landlord’s rights or Tenant’s obligations hereunder. Tenant’s policies shall provide thirty (30) days’ written notice to
Landlord of any cancellation or material change of any such insurance policy; provided, however, that if such written notice is commercially unavailable, Tenant shall notify Landlord of any cancellation or material change to any such insurance
coverages required of Tenant under this Lease not later than five (5) business days prior to the effectiveness of such cancellation or material change. 

(e) Default. If Tenant fails to comply with the foregoing insurance requirements or to deliver to Landlord the certificates or evidence
of coverage required herein, which failure is not cured within three (3) days following notice from Landlord, Landlord, in addition to any other remedy available pursuant to this Lease or otherwise, may, but shall not be obligated to, obtain
such insurance and Tenant shall pay to Landlord on demand the premium costs thereof, plus an administrative fee of five percent (5%) of such cost. 
 The
policies of insurance required of Landlord and Tenant hereunder shall include a clause or endorsement denying the insurer any rights of subrogation against the other party to the extent rights have been waived by the insured before the occurrence of
injury or loss. Landlord and Tenant each hereby waive any rights of recovery against the other for injury or loss to such waiving party or to its property or the property of others under its control, arising from any cause insured against under any
policy of insurance required to be carried by such waiving party under this Lease (other than commercial general liability). The foregoing waiver shall be effective whether or not the waiving party shall actually obtain and maintain the insurance
which such waiving party is obligated to obtain and maintain under this Lease. 
 Subject to being reimbursed by Tenant, Landlord shall
insure the Building and the Premises Land (excluding all property which Tenant is obligated to insure) by obtaining and maintaining (i) cause of loss-special risk form property insurance (including earthquake and flood insurance) covering
damage to the Premises and the Building and all improvements on the Premises Land (including the Base Building Work) other than Tenant’s property and alterations performed by Tenant (including the Tenant Improvement Work), in an amount equal to
100% of the full replacement cost thereof, and (ii) commercial general liability insurance in amounts at least equal to the amounts required to be carried by Tenant under this Lease, all with such deductibles as Landlord reasonably considers
appropriate, provided, however, Maintenance Expenses shall not include (and Landlord will be deemed self-insured) with respect to any deductibles in excess of $100,000. Tenant shall pay, as additional rent, Tenant’s Share of the cost of any
insurance maintained by Landlord hereunder and any other commercially reasonably insurance Landlord may reasonably elect to obtain for the Building and/or the Premises Land from time to time during the Term (including, without limitation, earthquake
and/or flood insurance and which is customarily maintained by other institutional landlords of comparable industrial properties). Tenant shall not be responsible or liable to pay any costs incurred by Landlord to maintain any form of environmental
insurance for the Premises, the Premises Land and/or the Project. Tenant shall pay Tenant’s Share of the cost of insurance policy premiums to Landlord at least five (5) days prior to the date any premiums or installments of premiums are
due and payable. Landlord shall determine and notify Tenant of the amount of insurance premiums not less than sixty (60) days in advance of the date such premium or installment of premiums is due and payable. In the event Landlord fails to
deliver such timely determination and notice to Tenant, then Tenant shall have thirty (30) days from receipt of such notice to remit payment of insurance premiums to Landlord. The foregoing notwithstanding, upon notice from Landlord, Tenant
shall pay, as additional rent, insurance premiums to Landlord in advance monthly installments equal to 

  
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one twelfth (1/12) of Landlord’s reasonable estimate of the insurance premiums payable under this Lease, together with monthly installments of Basic Rent, and Landlord shall hold such
payments in a non-interest bearing account. Upon determination of the actual insurance premium due and payable, Landlord shall determine and notify Tenant of any deficiency in the impound account Tenant shall
pay any deficiency of funds in the impound account not less than thirty (30) days in advance of the date such insurance premium or installment of premiums is due and payable. In the event Landlord fails to deliver such timely deficiency
determination and notice to Tenant, then Tenant shall have thirty (30) days from receipt of such notice to remit payment of such deficiency to Landlord. If Landlord determines that Tenant’s impound account has accrued an amount in excess
of the insurance premiums due and payable, then such excess shall be credited to Tenant within 30-days following the date of said notice from Landlord. 

Notwithstanding any contribution by Tenant to the cost of insurance premiums as provided herein, Tenant acknowledges that it has no right to
receive any proceeds from any insurance policies carried by Landlord. 
 17. DESTRUCTION. 

(a) Casualty. If during the Term of this Lease, any portion of the Premises, access to the Premises or any part of the Building is
damaged or destroyed and such damage or destruction can, in Landlord’s reasonable estimation, be repaired within two hundred seventy (270) days following such damage or destruction, and Landlord receives insurance proceeds sufficient to
restore such damage this Lease shall remain in full force and effect and Landlord shall promptly commence to repair and restore the damage or destruction to substantially the same condition as existed prior to such damage and shall complete such
repair and restoration with due diligence in compliance with all then existing laws. Notwithstanding the foregoing, if (1) such damage or destruction cannot, in Landlord’s reasonable estimate, be repaired within two hundred seventy
(270) days following such damage or destruction; or (2) more than forty percent (40%) of the Building is damaged or destroyed; or (3) any Mortgagee of the Building will not allow the application of insurance proceeds for repair and
restoration; or (4) the damage or destruction is not covered in full by Landlord’s insurance required by Paragraph 16 (or, if Landlord fails to maintain such required insurance, the damage or destruction would not have been covered in full
by Landlord’s insurance if Landlord had maintained such required insurance), subject to the deductible, or (5) the damage or destruction occurs within the last twelve (12) months of the Term of this Lease or any extension hereof, then
Landlord may, in its sole discretion, terminate this Lease by delivery of notice to Tenant within thirty (30) days of the date Landlord learns of the damage. Landlord shall, not later than forty-five (45) days following the date of the
casualty deliver to Tenant a written estimate of the time period for such restoration (the “Restoration Estimate”). 
 (b) Rent
Abatement. In the event of repair, reconstruction and restoration by Landlord as herein provided, the rent payable under this Lease shall be abated proportionately to the extent to which there is substantial interference with Tenant’s use
of the Premises during the period of such repair, reconstruction or restoration; provided that there shall be no abatement of rent if such damage is the result of Tenant’s intentional wrongdoing. Tenant shall not be entitled to any compensation
or damages for loss in the use of the whole or any part of the Premises, damage to Tenant’s personal property and/or any inconvenience or annoyance occasioned by such damage, repair, reconstruction or restoration. 

(c) Repair or Restoration. If Landlord is obligated to or elects to repair or restore as herein provided, Landlord shall be obligated
to make repair or restoration only to those portions of the Building and the Premises which were originally provided at Landlord’s expense (i.e., the Base Building Work), and the repair and restoration of items not provided at Landlord’s
expense shall be the obligation of Tenant. Tenant agrees to coordinate the restoration and repair of those items it is required to restore or repair with Landlord’s repair and restoration work and in accordance with a work schedule prepared by
Landlord, or Landlord’s contractor. Further, Tenant’s work shall be performed in accordance with the terms, standards and conditions contained in Paragraph 14 above. 

  
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 (d) Waiver. The provisions of California Civil Code Section 1932, Subsection 2,
and Section 1933, Subsection 4, and any other similarly enacted statute or court decision relating to the abatement or termination of a lease upon destruction of the leased premises, are hereby waived by Tenant; and the provisions of this
Paragraph 17 shall govern in case of such destruction. 
 (e) Tenant’s Right to Terminate. Where Landlord is obligated or
otherwise elects to effect restoration of the Premises or Building, unless such restoration is completed within sixty (60) days following the restoration period set forth in Landlord’s Restoration Estimate (subject to delays caused by
Tenant and force majeure), Tenant shall have the right to terminate this Lease by written notice at any time after the expiration of such sixty (60) day period (subject to delays caused by Tenant and force majeure) but prior to the time that
the restoration is substantially completed (at which time Tenant’s right to terminate this Lease shall be null and void), such termination to take effect as of the thirtieth (30th) day after such notice is given. Notwithstanding the foregoing,
if Landlord causes the restoration to be substantially completed within thirty (30) days after receiving such notice from Tenant of its election to terminate this Lease pursuant to the foregoing sentence, then Tenant’s right to terminate
this Lease shall be null and void. Additionally, if the Premises are destroyed or damaged during the last twelve (12) months of the Term and the damage or destruction cannot, in Landlord’s reasonable estimate, be repaired within ninety
(90) days following such damage or destruction (and Tenant has not elected to extend this Lease pursuant to Rider 1 attached hereto) then, in each case, Tenant shall have the right to terminate this Lease upon delivery of notice to Landlord
within thirty (30) days after receipt of Landlord’s notice regarding Landlord’s estimate to repair such damage or destruction, in which case this Lease shall terminate on the date that is sixty (60) days after the date of
Tenant’s notice. 
 18. CONDEMNATION. 

(a) Definitions. The following definitions shall apply: (1) “Condemnation” and/or “Taking” means (a) the
exercise of any governmental power of eminent domain, whether by legal proceedings or otherwise by condemnor, or (b) the voluntary sale or transfer by Landlord to any condemnor either under threat of condemnation or while legal proceedings for
condemnation are proceeding; (2) “Date of Taking” means the date the condemnor has the right to possession of the property being condemned; (3) “Award” means all compensation, sums or anything of value awarded, paid or received
on a total or partial condemnation; and (4) “Condemnor” means any public or quasi-public authority, or private corporation or individual, having a power of condemnation. 

(b) Obligations to be Governed by Lease. If during the Term of this Lease there is any Taking of all or any part of the Premises, the
rights and obligations of the parties shall be determined pursuant to this Lease. 
 (c) Total or Partial Taking. If the Premises is
taken in its entirety by condemnation, this Lease shall terminate on the date of Taking. If any portion of the Premises is taken by condemnation, this Lease shall remain in effect, except that Tenant may elect to terminate this Lease if the
remaining portion of the Premises is rendered unsuitable for Tenant’s continued use of the Premises, as determined by Landlord and Tenant in their reasonable discretion. If Tenant elects to terminate this Lease, Tenant must exercise its right
to terminate by giving notice to Landlord within thirty (30) days after receipt of notice of the Taking from Landlord. If Tenant elects to terminate this Lease, Tenant shall also notify Landlord of the date of termination, which date shall not
be earlier than thirty (30) days nor later than ninety (90) days after Tenant has notified Landlord of its election to terminate; except that this Lease shall terminate on the 

  
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date of Taking if the date of Taking falls on a date before the date of termination as designated by Tenant. If any portion of the Premises is taken by condemnation and this Lease remains in full
force and effect, on the date of taking the rent shall be reduced by an amount in the same ratio as the total number of square feet in the portion of the Premises taken bears to the total number of square feet in the Premises immediately before the
Date of Taking. In the case where a portion of the Premises is taken and the Lease remains in full force and effect, Landlord shall, at its own cost and expense, to the extent of condemnation proceeds, make all alterations or repairs to the Building
so as to make the portion of the Building not taken a complete architectural unit. Such work shall not, however, exceed the scope of work done by Landlord in originally constructing the Building. If severance damages from the condemnor are not
available to Landlord in sufficient amounts to permit such restoration, Landlord may terminate this Lease upon written notice to Tenant. Rent due and payable hereunder shall be temporarily abated during such restoration period in proportion to the
extent to which there is interference with Tenant’s use of the Premises, as reasonably determined by Landlord and Tenant. Each party hereby waives the provisions of Section 1265.130 of the California Code of Civil Procedure and any present
or future law allowing either party to petition the Superior Court to terminate this Lease in the event of a partial taking of the Building or Premises. 

If the Premises are totally or partially taken by condemnation, Tenant shall not assert any claim against Landlord or the condemnor for any compensation
because of such Taking, and Landlord shall be entitled to receive the entire amount of the award without any deduction for any estate or interest of Tenant; provided, however, Tenant shall have the right to file a separate claim against the
condemnor (but not Landlord) and receive a condemnation award so long as Tenant’s claim and/or award does not affect Landlord’s claim or award. 

19. ASSIGNMENT OR SUBLEASE. 
 Except as
expressly provided to the contrary in this Lease, Tenant shall not assign or encumber its interest in this Lease or any portion of the Premises or sublease all or any part of the Premises or allow any other person or entity (except Tenant’s
authorized representatives, employees, invitees, or guests) to occupy or use all or any part of the Premises without first obtaining Landlord’s consent, which consent shall not be unreasonably withheld, conditioned or delayed. In addition to
any other reasonable grounds upon which Landlord may withhold its consent, Landlord shall be deemed reasonable in withholding its consent if it determines that: (i) the financial net worth of the proposed assignee or sublessee (considering
Tenant’s net worth and continuing liability under this Lease) is not sufficient in Landlord’s reasonable judgement to cover the financial obligations under this Lease (provided that Landlord acknowledges that the liability of the proposed
assignee or sublessee would remain joint and several with Tenant with respect to the financial obligations of the Lease); (ii) intentionally deleted; (iii) the intended uses of the Premises by the proposed assignee or sublessee will constitute
a violation of this Lease or any governmental law, rule, ordinance or regulation governing the Premises or would involve the storage, use or keeping of Hazardous Materials in, on or about the Premises (which Hazardous Materials the proposed assignee
or sublessee is unable to reasonably store or contain in compliance with applicable laws); or (iv) the proposed assignee or sublessee is a tenant of Landlord at the Project or has negotiated to be a tenant of Landlord at the Project any time in
the six (6) months just preceding Tenant’s request for Landlord’s consent and Landlord’s has available space within the Project that reasonable meets the proposed assignee or sublessee’s space needs. Any assignment,
encumbrance or sublease without Landlord’s written consent shall be voidable and at Landlord’s election, shall constitute a default hereunder. Landlord’s waiver or consent to any assignment or subletting shall not relieve Tenant or
any assignee or sublessee from any obligation under this Lease whether or not accrued. 
 Except as permitted under this Paragraph 19 with
respect to a Permitted Transfer, if Tenant is a partnership, a withdrawal or change, voluntary, involuntary or by operation of law of any partner owning 

  
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a controlling interest in Tenant as of the date of this Lease, or the dissolution of the partnership, shall be deemed a voluntary assignment. Except as permitted under this Paragraph 19 with
respect to a Permitted Transfer, if Tenant is a limited liability company, a withdrawal or change, voluntary, involuntary or by operation of law of any member, or the dissolution of the limited liability company, shall be deemed a voluntary
assignment. Except as permitted under this Paragraph 19 with respect to a Permitted Transfer, if Tenant is a corporation, any dissolution, merger, consolidation or other reorganization of Tenant, or any sale or other transfer of a controlling
percentage of the capital stock of Tenant from the owners as of the date of this Lease, or the sale of at least 51% of the value of the assets of Tenant shall be deemed a voluntary assignment. The phrase “controlling percentage” means
ownership of and right to vote stock possessing at least 51% of the total combined voting power of all classes of Tenant’s capital stock issued, outstanding and entitled to vote for election of directors. The preceding four sentences of this
paragraph shall not apply to entities the stock or interests of which is traded through a nationally recognized public exchange. If Landlord shall consent to any assignment or sublease of this Lease, 50% of all sums and other consideration actually
received by Tenant from its assignees or subtenants in excess of (i) the rent payable by Tenant to Landlord under this Lease, plus (ii) the following
out-of-pocket costs and expenses reasonably incurred by Tenant for the subletting or assignment: (1) brokerage commission and reasonable attorney fees and expenses,
(2) advertising and marketing costs for tenants, (3) vacancy costs, and (4) the reasonable costs paid in making any reasonable improvements or substitutions in the Premises (pursuant to the terms and conditions of Paragraph 14 above)
required by the new occupant, shall be paid to Landlord, as and when such sums are due and payable. 
 If Tenant requests Landlord’s
consent to an assignment or sublease, Tenant shall submit to Landlord, in writing, the name of the proposed assignee or subtenant and the nature and character of the business of the proposed assignee or subtenant, the term, use, rental rate and all
other material terms and conditions of the proposed assignment or sublease, including, without limitation, evidence satisfactory to Landlord of the proposed assignee’s or subtenant’s credit or net worth, twenty (20) days prior to the
proposed effective date of such assignment or sublease. Tenant shall also submit to Landlord a processing fee of One Thousand Dollars ($1,000.00) as a condition to Landlord reviewing Tenant’s proposed assignment or subletting materials.
Landlord shall within ten (10) days after Landlord’s receipt of such written request and information either (i) consent to or reasonably refuse to consent to such assignment or sublease in writing in accordance with the express terms
of this Paragraph 19 (but no such consent to an assignment or sublease shall relieve Tenant or any guarantor of Tenant’s obligations under this Lease of any liability hereunder). If Tenant requests Landlord’s consent to any such assignment
or sublease, the assignment shall be on a form reasonably approved by Landlord, and Tenant shall pay Landlord, whether or not consent is ultimately given, reasonable
out-of-pocket attorneys’ fees and other costs up to Two Thousand Five Hundred Dollars ($2,500.00) incurred in connection with the preparation, review and/or
approval of such documentation. If Landlord fails to respond to any request for consent within the twenty (20) day period set forth above, Tenant shall have the right to provide Landlord with a second request for consent. Tenant’s second
request for consent must specifically state that Landlord’s failure to respond within a period of five (5) business days shall be deemed to be an approval by Landlord. If Landlord’s failure to respond continues for five
(5) business days after its receipt of the second request for consent, the transfer for which Tenant has requested consent shall be deemed to have been approved by Landlord. 

Except as expressly set forth in this Lease, no interest of Tenant in this Lease shall be assignable by involuntary assignment through
operation of law (including, without limitation, the transfer of this Lease by testacy or intestacy). Each of the following acts shall be considered an involuntary assignment: (a) If Tenant is or becomes bankrupt or insolvent, makes an
assignment for the benefit of creditors, or institutes proceedings under the Bankruptcy Act in which Tenant is the bankrupt; or if Tenant is a partnership or consists of more than one person or entity, if any partner of the partnership or other
person or entity is or becomes bankrupt or insolvent, or makes an assignment for the benefit of creditors; or (b) If 

  
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a writ of attachment or execution is levied on this Lease; or (c) If in any proceeding or action to which Tenant is a party, a receiver is appointed with authority to take possession of the
Premises. An involuntary assignment shall constitute a default by Tenant and Landlord shall have the right to elect to terminate this Lease, in which case this Lease shall not be treated as an asset of Tenant. 

No assignment or subletting, occupancy or collection of rent from any proposed assignee or sublessee shall be deemed a waiver on the part of
Landlord, or the acceptance of the applicable assignee or sublessee, as applicable, as Tenant, and no such assignment or subletting shall release Tenant of Tenant’s obligations under this Lease or alter the primary liability of Tenant to pay
rent and to perform all other obligations to be performed by Tenant hereunder. Following and during the continuance of a default beyond applicable notice and cure periods, Landlord may require that any sublessee remit directly to Landlord on a
monthly basis, all monies due Tenant by said sublessee, and each sublease shall provide that if Landlord gives said sublessee written notice that Tenant is in default under this Lease, said sublessee will thereafter make all payments due under the
sublease directly to or as directed by Landlord, which payments will be credited against any payments due under this Lease. Tenant hereby irrevocably and unconditionally assigns to Landlord all rents and other sums payable under any sublease of the
Premises; provided, however, that Landlord hereby grants Tenant a license to collect all such rents and other sums so long as Tenant is not in default under this Lease beyond any applicable notice and cure period. Consent by Landlord to one
assignment or subletting shall not be deemed consent to any subsequent assignment or subletting. In the event of default by any assignee or sublessee of Tenant or any successor of Tenant in the performance of any of the terms hereof, Landlord may
proceed directly against Tenant without the necessity of exhausting remedies against such assignee or sublessee or successor. Landlord may consent to subsequent assignments of the Lease or sublettings or amendments or modifications to the Lease with
assignees of Tenant, without notifying Tenant, or any successor of Tenant, and without obtaining its or their consent thereto and any such actions shall not relieve Tenant of liability under this Lease. Tenant hereby waives (for itself and all
persons claiming under Tenant) the provisions of Civil Code Section 1995.310. 
 Notwithstanding the terms of this Paragraph 19 above,
provided Tenant is not in default under this Lease beyond applicable notice and cure periods, Tenant may affect an assignment or a sublease, without Landlord’s consent, to (1) any parent, subsidiary or affiliate entity which controls, is
controlled by, or is under common control with, Tenant, or (2) to any entity resulting from a merger or consolidation of Tenant, or (3) to any person or entity which acquires all or substantially all of the assets, stock or interests of
Tenant’s business as a going concern (each such assignment or sublease or transfer being a “Permitted Transfer,” and each such assignee or sublessee being a “Permitted Transferee”), provided that (a) Tenant delivers to
Landlord, substantially concurrently with such transfer, written notice and supporting documentation of such transfer, (b) in the event of an assignment, the assignee assumes in full the obligations of Tenant under this Lease arising after the
transfer, (c) Tenant remains fully liable under this Lease, and (d) Tenant and Permitted Transferee shall execute an assignment or sublease agreement, as applicable, in a form reasonably acceptable to Landlord. In addition, a change in or
transfer of a controlling percentage of the stock or other interests in Tenant shall not be deemed an assignment of this Lease so long as the tangible net worth (excluding goodwill) of Tenant, as reasonably determined by Landlord, following such
change or transfer of a controlling percentage of the stock or other interests in Tenant is substantially equal to or better than the tangible net worth (excluding goodwill) of Tenant, as reasonably determined by Landlord, immediately prior to such
change or transfer. 
 Notwithstanding anything in this Paragraph 19 to the contrary, Tenant shall be permitted from time to time to
sublease space within the Premises to professionals whose use will be consistent with the terms of this Lease (“Approved Subtenants”), provided that (a) Tenant does not separately demise such space and the Approved Subtenants utilize,
in common with Tenant, one common entryway to the Premises as well as certain shared central services, such as reception, photocopying and the like; and (b) 

  
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the Approved Subtenants shall not occupy, in the aggregate, more than 15% of the square footage of the Premises. If any Approved Subtenants occupy any portion of the Premises as described herein,
it is agreed that (i) in no event shall any use or occupancy of any portion of the Premises by any Approved Subtenants release or relieve Tenant from any of its obligations under this Lease; (ii) the Approved Subtenants and their
employees, contractors and invitees visiting or occupying space in the Premises shall be deemed contractors of Tenant for purposes of Tenant’s indemnification obligations in Paragraph 15; and (iii) in no event shall the occupancy of any
portion of the Premises by Approved Subtenants be deemed to create a landlord/tenant relationship between Landlord and such Approved Subtenants, and, in all instances, Tenant shall be considered the sole tenant under this Lease notwithstanding the
occupancy of any portion of the Premises by the Approved Subtenants. 
 20. DEFAULT. 

The occurrence of any of the following shall constitute a default by Tenant (an “event of default”) under this Lease: (a) a
failure to pay rent or any other charge within five (5) business days after receipt of written notice that same is past due; (b) the making by Tenant or any guarantor of this Lease (“Guarantor”) of any general assignment for the
benefit of creditors; the filing by or against Tenant or any Guarantor of a petition to have Tenant or such Guarantor adjudged a bankrupt or a petition for reorganization or arrangement under any law relating to bankruptcy (unless, in the case of a
petition filed against Tenant or a Guarantor, the same is dismissed within thirty (30) days; the appointment of a trustee or receiver to take possession of substantially all of Tenant’s assets located at the Premises or of Tenant’s
interest in this Lease, or of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease, or of substantially all of Guarantor’s assets, where possession is not restored to Tenant or such
Guarantor, as the case may be, within thirty (30) days; the attachment, execution or other judicial seizure of substantially all of Tenant’s assets located at the Premises or of Tenant’s interest in this Lease where such seizure is
not discharged within thirty (30) days; or if this Lease shall, by operation of law or otherwise, pass to any person or persons other than Tenant except as provided in Paragraph 19 herein; (c) The failure of Tenant to timely comply with
the provisions of Paragraph 24 or Paragraph 31 of this Lease regarding, respectively, Subordination and Estoppel Certificates and such failure shall continue for five (5) business days following written notice that Tenant has not executed any
Subordination and Estoppel Certificates within the time periods set forth in Paragraphs 24 and 31, respectively; or (d) the failure of Tenant to perform any other provision of this Lease within thirty (30) days following receipt of written
request from Landlord, provided that if more time is required to complete such performance, Tenant shall not be in default if Tenant commences such performance within said thirty (30)-day period and thereafter
diligently prosecutes such cure to completion. 
 21. LANDLORD’S REMEDIES. 

Landlord shall have the remedies described in this Paragraph 21 if there is an event of default of Tenant hereunder. These remedies are not
exclusive; they are cumulative and in addition to any remedies now or later allowed by law (including, without limitation, to the extent the Premises are located in California, the remedies of Civil Code Section 1951.4 and any successor statute
or similar law, which provides that Landlord may continue this Lease in effect following Tenant’s breach and abandonment and collect rent as it falls due, if Tenant has the right to sublet or assign, subject to reasonable limitations). 

Upon any event of default by Tenant, Landlord may: 

(a) Maintain this Lease in full force and effect and recover the rent and other monetary charges as they become due, without terminating
Tenant’s right to possession irrespective of whether Tenant shall have abandoned the Premises. If Landlord elects not to terminate this Lease, Landlord shall have the right to attempt to relet the Premises at such rent and upon conditions, and
for such a term, and 

  
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to do all acts necessary to maintain or preserve the Premises, as Landlord deems reasonable and necessary, without being deemed to have elected to terminate this Lease, including re-entering the Premises to make repairs or to maintain or modify the Premises, and removing all persons and property from the Premises; such property may be removed and stored in a public warehouse or elsewhere at
the cost of and for the account of Tenant. Reletting may be for a period shorter or longer than the remaining Term of this Lease, and for more or less rent, but Landlord shall have no obligation to relet at less than prevailing market rental rates.
If reletting occurs, this Lease shall terminate automatically when the new tenant takes possession of the Premises. Notwithstanding that Landlord fails to elect to terminate the Lease initially, Landlord at any time thereafter may elect to terminate
the Lease by virtue of any previous uncured default by Tenant. In the event of any such termination, Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant’s default, as well as all costs of
reletting, including, without limitation, brokerage commissions and/or finder’s fees, attorneys’ fees, and restoration or remodeling costs. 

(b) Terminate Tenant’s right to possession by any lawful means, in which case this Lease shall terminate and Tenant shall immediately
surrender possession of the Premises to Landlord. In such event Landlord shall be entitled to recover from Tenant all damages incurred by Landlord by reason of Tenant’s default including, without limitation thereto, the following: (i) the
worth, at the time of award, of any unpaid rent which had been earned at the time of such termination; plus (ii) the worth, at the time of award, of the amount by which the unpaid rent which would have been earned after termination until the
time of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus (iii) the worth, at the time of award, of the amount by which the unpaid rent for the balance of the Term after the time of award
exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; plus (iv) any other reasonable amount, and court costs, necessary to compensate Landlord for all the detriment proximately caused by Tenant’s
default or which in the ordinary course of things would be likely to result there from (including, without limiting the generality of the foregoing, the amount of any brokerage commissions and/or finder’s fees for a replacement tenant,
maintaining the Premises after such default, and preparing the Premises for reletting) (provided that such other reasonable amounts are amortized over the entire length of the replacement tenant’s new lease term, with Tenant only responsible
for the portion of such amounts which are applicable to the portion of the new tenant’s lease term that coincides with the Term of the Lease); plus (v) at Landlord’s election, such other amounts in addition to or in lieu of the
foregoing as may be permitted from time to time by applicable law. As used in (i) and (ii) above, the “worth at the time of the award” is computed by allowing interest at the Interest Rate. As used in (iii) above, the “worth
at the time of the award” is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of the award plus two percent (2%). Tenant hereby waives for Tenant and all those claiming under
Tenant all rights now or hereafter existing, including, without limitation, any rights under California Code of Civil Procedure Sections 1174 and 1179 and Civil Code Section 1950.7 to redeem by order or judgment of any court or by any legal
process or writ, Tenant’s right of occupancy of the Premises after any termination of this Lease. 
 (c) Collect sublease rents (or
appoint a receiver to collect such rents) and otherwise perform Tenant’s obligations at the Premises, it being agreed, however, that neither the filing of a petition for the appointment of a receiver for Tenant nor the appointment itself shall
constitute an election by Landlord to terminate this Lease. 
 (d) Proceed to cure the default at Tenant’s sole cost and expense. If at
any time Landlord pays any sum or incurs any expense as a result of or in connection with curing any default of Tenant, the amount thereof shall be deemed additional rent hereunder and shall be immediately due and payable by Tenant to Landlord upon
demand. 
 (e) Intentionally Deleted. 

  
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 (f) Pursue any and all other legal or equitable remedies as may be available to Landlord by
reason of such default by Tenant. 
 The remedies of Landlord, as hereinabove provided, are cumulative and in addition to and not exclusive
of any other remedy of Landlord herein given or which may be permitted by law. The remedies of Landlord, as hereinabove provided, are subject to the other provisions herein. Nothing contained in this Paragraph 21 shall constitute a waiver of
Landlord’s right to recover damages by reason of Landlord’s efforts to mitigate the damage to it caused by Tenant’s default; nor shall anything herein adversely affect Landlord’s right, as in this Lease elsewhere provided, to
indemnification against liability for injury or damage to persons or property occurring prior to the termination of this Lease. 
 22. DEFAULT BY
LANDLORD. 
 Landlord shall not be in default hereunder unless Landlord fails to perform the obligations required of Landlord within
thirty (30) days after written notice by Tenant to Landlord and to any Mortgagee or Ground Lessor (as defined in Subparagraph 34(m) below) in writing specifying wherein Landlord has failed to perform such obligation; provided, however, that if
the nature of Landlord’s obligation is such that more than thirty (30) days is required for performance, then Landlord shall not be in default if Landlord commences performance within such thirty
(30)-day period and thereafter diligently prosecutes the same to completion. In no event shall Tenant have the right to terminate this Lease as a result of Landlord’s default (unless such remedy is
granted to Tenant by a court of competent jurisdiction); Tenant’s remedies shall be limited to any other remedy available at law or in equity; provided, however, notwithstanding anything herein to the contrary, under no circumstances shall
Landlord be liable hereunder to Tenant for any consequential damages or for loss of business, revenue, income or profits and Tenant hereby waives any and all claims for any such damages. Nothing herein contained shall be interpreted to mean that
Tenant is excused from paying rent due hereunder as a result of any default by Landlord except as otherwise expressly provided in this Lease or unless such remedy is granted to Tenant by a court of competent jurisdiction. 

23. ENTRY OF PREMISES AND PERFORMANCE BY TENANT. 

Upon at least three (3) business days prior written notice (except in the event of an emergency in which case only such notice as is
reasonably practicable), Landlord and its authorized representatives shall have the right to enter the Premises at all reasonable times during Tenant’s normal business hours, however subject to Tenant’s reasonable security and access
protocols (which may include the requirement of specific identification information, a commercially reasonable confidentiality agreement and/or that the entry be conducted only in the presence of a Tenant representative (except in the event of an
emergency)). Subject to the notification requirements contained herein, Landlord may enter the Premises for any of the following purposes without abatement of rent or liability to Tenant: (a) To determine whether the Premises is in good
condition and whether Tenant is complying with its obligations under this Lease; (b) To do any necessary maintenance and to make any restoration to the Premises or the Building that Landlord has the right or obligation to perform; (c) To
post “for sale” signs at any time during the Term, to post “for rent” or “for lease” signs during the last twelve (12) months of the Term, or during any period while Tenant is in default; (d) To show the
Premises to prospective brokers, agents, buyers or persons interested in an exchange, at any time during the Term, or to show the Premises to prospective tenants during the last twelve (12) months of the Term; (e) To repair, maintain or
improve the Premises and to erect scaffolding and protective barricades around and about the Premises but not so as to prevent entry to the Premises and to do any other act or thing necessary for the safety or preservation of the Premises; or
(f) To discharge Tenant’s obligations hereunder when Tenant has failed to do so in accordance with the terms of this Lease. Landlord shall not be liable in any manner for any inconvenience, disturbance, loss of business, nuisance or other
damage arising of out Landlord’s entry onto the Premises as provided in 

  
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this Paragraph 23. Except as expressly provided to the contrary in this Lease, Tenant shall not be entitled to an abatement or reduction of rent if Landlord exercises any rights reserved in this
Paragraph 23. Landlord shall reasonably attempt to conduct its activities on the Premises as provided herein in a manner that will minimize the inconvenience, annoyance or disturbance to Tenant. For each of these purposes, Landlord shall at all
times have and retain a key with which to unlock all the doors in, upon and about the Premises, excluding Tenant’s vaults, safes, or other secure areas (which areas shall be designated by Tenant and approved by Landlord, in Landlord’s
reasonable discretion, as “secure areas”). Notwithstanding anything in this Lease to the contrary, Tenant (and not Landlord) shall be fully responsible (at its sole cost and expense) for all repair and maintenance obligations under this
Lease with respect to any such secure areas designated by Tenant. 
 All covenants and agreements to be performed by Tenant under any of the
terms of this Lease shall be performed by Tenant at Tenant’s sole cost and expense without any abatement of rent, except as otherwise expressly provided in this Lease. If Tenant shall fail to pay any sum of money to any third party which Tenant
is obligated to pay under this Lease or shall fail to perform any other act on its part to be performed hereunder, and such failure shall continue for thirty (30) days after notice thereof by Landlord (or such other period as specifically
provided herein), Landlord may, without waiving or releasing Tenant from any obligations of Tenant, but shall not be obligated to, make any such payment or perform any such other act on Tenant’s part to be made or performed in this Lease,
without liability to Tenant for any loss or damage which might occur to Tenant’s merchandise, fixtures or other property or to Tenant’s business by reason thereof, and upon completion thereof, Tenant shall pay to Landlord all sums so paid
by Landlord and all necessary incidental costs for making such repairs plus ten percent (10%) for overhead, upon presentation of a bill therefor. Said bill shall include interest on all sums so paid by Landlord and all necessary incidental costs for
making such repairs at the Interest Rate, from the date of such payment by Landlord. Tenant covenants to pay any such sums to Landlord upon demand, and Landlord shall have (in addition to all other rights or remedies of Landlord) the same rights and
remedies in the event of the nonpayment thereof by Tenant as in the case of default by Tenant in the payment of rent. 
 24. SUBORDINATION. 

Unless otherwise elected by Landlord or any Mortgagee (defined below) with a lien on the Premises or any Ground Lessor (defined below) with
respect to the Premises (or any part thereof), this Lease shall be subject and subordinate at all times to (a) all ground leases or underlying leases which may now exist or hereafter be executed affecting the Premises, or the land upon which
the Premises is situated, or both, and (b) the lien of any mortgage or deed of trust which may now exist or hereafter be executed in any amount for which the Premises, ground leases or underlying leases, or Landlord’s interest or estate in
any of said items is specified as security; provided, however, that as a condition precedent to any subordination of this Lease to any ground or underlying lease or to the lien of any mortgage or deed of trust now or hereafter in effect, Landlord
shall provide Tenant with a commercially reasonable subordination, non-disturbance and attornment agreement (an “SNDA”) from the Mortgagee or Ground Lessor on such Mortgagee’s or Ground
Lessors’ standard form of SNDA, as applicable, with revisions reasonably acceptable to Tenant and such lessor or mortgagee, and Tenant shall execute and return (or provide reasonable revisions to, as applicable) such SNDA to Landlord within ten
(10) days after receipt, provided, further that if Tenant provides reasonable revisions to such SNDA rather than providing a fully executed SNDA, then Tenant shall diligently review and approve subsequent drafts of the SNDA. In the event that
any ground lease or underlying lease terminates for any reason or any mortgage or deed of trust is foreclosed or a conveyance in lieu of foreclosure is made for any reason, Tenant shall, notwithstanding any subordination, attorn to and become the
tenant of the successor in interest to Landlord and such successor shall recognize this Lease and all of Tenant’s rights hereunder. Tenant covenants and agrees to execute and deliver (or provide reasonable revisions to, as applicable) within
ten (10) days after receipt, 

  
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any commercially reasonable additional documents evidencing the priority or subordination of this Lease with respect to any such ground lease or underlying leases or the lien of any such mortgage
or deed of trust so long as such documents contain the non-disturbance protections required in an SNDA; provided, however, that if Tenant provides reasonable revisions to such additional documents rather than
providing fully executed documents, then Tenant shall diligently review and approve subsequent drafts of such additional documents. Landlord shall use commercially reasonable efforts to promptly obtain, at no cost to Tenant, from any existing or
future Mortgagees or Ground Lessors a commercially reasonable SNDA on such existing or future Mortgagees or Ground Lessors’ standard form, subject to agreement with Tenant on commercially reasonable
non-disturbance provisions in favor of Tenant. Landlord represents and warrants to Tenant that there is no current ground or underlying lease encumbering the Premises as of the date of this Lease. 

25. NOTICE. 
 Any notice, demand,
request, consent, approval or communication desired by either party or required to be given, shall be in writing and sent prepaid by commercial overnight courier or prepaid certified first class mail (return receipt requested), addressed as set
forth in Subparagraphs 1(b) and 1(c). Either party may change its address by notification to the other party. Notice shall be deemed to be communicated seventy-two (72) hours from the time of mailing (if
sent via first class mail), or at the time of service if sent by other than first class mail as provided in this Paragraph 25. 
 26. WAIVER. 

No delay or omission in the exercise of any right or remedy by Landlord or Tenant shall impair such right or remedy or be construed as a
waiver. No act or conduct of Landlord, including, without limitation, acceptance of the keys to the Premises, shall constitute acceptance of the surrender of the Premises by Tenant before the expiration of the Term. Landlord’s consent to or
approval of any act by Tenant requiring Landlord’s consent or approval shall not be deemed to waive or render unnecessary Landlord’s consent to or approval of any subsequent act by Tenant. Any waiver by Landlord of any default must be in
writing and shall not be a waiver of any other default concerning the same or any other provision of this Lease. 
 27. LIMITATION OF LIABILITY. 

In consideration of the benefits accruing hereunder, Tenant and all successors and assigns of Tenant covenant and agree that, in the event of
any actual or alleged failure, breach or default hereunder by Landlord or otherwise pertaining to any obligation of Landlord with respect to the Building: 

(a) The liability of Landlord and/or any Landlord Indemnified Parties shall be limited solely and exclusively to an amount which is equal to
the interest of Landlord in the Building, including any sales or insurance proceeds received by Landlord and/or any Landlord Indemnified Parties in connection with the Building or the Premises Land, provided that any rights that Tenant may have to
such sales or insurance proceeds shall be subordinate to any rights Landlord’s lender(s) may have to said proceeds; 
 (b) No member,
partner, officer, director, owner, shareholder or advisor of Landlord shall be sued or named as a party in any suit or action (except as may be necessary to secure jurisdiction of the entity in question); 

(c) No service of process shall be made against any member, partner, officer, director, owner, shareholder or advisor of Landlord (except as
may be necessary to secure jurisdiction of the entity in question); 

  
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 (d) No member, partner, officer, director, owner, shareholder or advisor of Landlord shall
be required to answer or otherwise plead to any service of process; 
 (e) No judgment may be taken against any member, partner, officer,
director, owner, shareholder or advisor of Landlord; 
 (f) Any judgment taken against any member, partner, officer, director, owner,
shareholder or advisor of Landlord may be vacated and set aside at any time after the fact; 
 (g) No writ of execution will ever be levied
against the assets of any member, partner, officer, director, owner, shareholder or advisor of Landlord; 
 (h) The obligations under this
Lease do not constitute personal obligations of any individual member, partner, officer, director, owner, shareholder or advisor of Landlord, and Tenant shall not seek recourse against any such persons or entities of Landlord or any of their
personal assets for satisfaction of any liability in respect to this Lease; and 
 (i) These covenants and agreements are enforceable both
by Landlord and also by any member, partner, officer, director, owner, shareholder or advisor of Landlord. 
 Tenant agrees that each of the
foregoing provisions shall be applicable to any covenant or agreement either expressly contained in this Lease or imposed by statute or at common law. 

Notwithstanding any provision of the Lease to the contrary, in no event shall either Landlord or Tenant be liable to the other party for any
lost profits, lost economic opportunities or any form of for any consequential damages, special or punitive damages from any cause whatsoever, except (i) as provided in Paragraph 9 above in the case of a holding over by Tenant more than
forty-five (45) days after the expiration of the Term of this Lease and/or (ii) in connection with any breach by Tenant of any of its obligations under this Lease with respect to Hazardous Materials. 

28. FORCE MAJEURE. 
 Except with respect
to each parties’ respective obligations with regard to rent and other charges and reimbursements to be paid by such party pursuant to this Lease, Landlord and Tenant shall have no liability whatsoever to the other party on account of
(a) the inability or delay of such party in fulfilling any of its obligations under this Lease by reason of strike, other labor trouble, terrorism, governmental controls in connection with a national or other public emergency, or shortages of
fuel, supplies or labor resulting there from or any other cause, whether similar or dissimilar to the above, beyond such party’s reasonable control; or (b) any failure or defect in the supply, quantity or character of electricity or water
furnished to the Premises, by reason of any requirement, act or omission of the public utility or others furnishing the Premises with electricity or water, or for any reason, whether similar or dissimilar to the above, beyond Landlord’s
reasonable control. If this Lease specifies a time period for performance of an obligation of Landlord or Tenant, that time period shall be extended by the period of any delay in Landlord’s or Tenant’s performance caused by any of the
events of force majeure described above; however, the foregoing shall not serve to extend the parties’ obligations with regard to rent and other charges and reimbursements to be paid by such party pursuant to this Lease. 

29. PROFESSIONAL FEES. 
 Notwithstanding
anything to the contrary contained in this Lease, with respect to any legal proceedings or actions, if either party places the enforcement of this Lease or any part thereof in the hands 

  
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of an attorney, or files suit upon the same, in any case, as a result of a default by the other party of its obligations under this Lease beyond the expiration of all applicable cure periods, the
prevailing party in any such proceeding or action shall be entitled to recover its reasonable out-of-pocket attorneys’ fees and disbursements, and court costs. As
used herein, the term “prevailing party” shall mean the party who substantially prevails in the matter at issue including a party who dismisses an action for recovery hereunder in exchange for payment of sums allegedly due, performance of
covenants allegedly breached or consideration substantially equal to the relief sought in the action. The provisions of this Paragraph 29 shall survive the expiration or earlier termination of this Lease. 

30. EXAMINATION OF LEASE. 
 Submission of
this instrument for examination or signature by Tenant shall not create a binding agreement between Landlord and Tenant nor shall it constitute a reservation or option to lease on the part of Tenant and this instrument shall not be effective as a
lease and shall not create any obligations on the part of Landlord or Tenant until this Lease has been validly executed first by Tenant and second by Landlord, and delivered Tenant. 

31. ESTOPPEL CERTIFICATE. 
 (a) Within
ten (10) days following any written request which Landlord may make from time to time, Tenant shall execute and deliver to Landlord a statement (“Estoppel Certificate”), in a form substantially similar to the form of Exhibit E
attached hereto or in such other commercially reasonable form as Landlord’s lender or purchaser may reasonably require, certifying: (i) the date of commencement of this Lease; (ii) the fact that this Lease is unmodified and in full
force and effect (or, if there have been modifications, stating the nature and date of such modifications), (iii) the date to which the rent and other sums payable under this Lease have been paid; (iv) that there are no current defaults under
this Lease by either Landlord or Tenant except as specified in Tenant’s statement; and (v) such other matters requested by Landlord. Landlord and Tenant intend that any statement delivered pursuant to this Paragraph 31 may be relied
upon by any Mortgagee, beneficiary, purchaser or prospective purchaser of the Premises or any interest therein. 
 32. RULES AND REGULATIONS. 

Provided that Landlord uses commercially reasonable efforts to enforce the same across all tenants of the Project on non-discriminatory basis, Tenant shall faithfully observe and comply with the “Rules and Regulations”, a copy of which is attached hereto and marked Exhibit F, and all reasonable and nondiscriminatory
modifications thereof and additions thereto from time to time put into effect by Landlord; provided, however, that Tenant has been given prior written notice of such modifications and additions. Landlord shall not be responsible to Tenant for the
violations or nonperformance by any other tenant or occupant of the Project of any of said Rules and Regulations. 
 33. LIENS. 

Tenant shall, within thirty (30) days after receiving notice of the filing of any mechanic’s lien for material or work claimed to
have been furnished to the Premises on Tenant’s behalf or at Tenant’s request, discharge the lien or post a bond equal to the amount of the disputed claim with a bonding company reasonably satisfactory to Landlord. If Tenant posts a bond,
it shall contest the validity of the lien with all due diligence. Tenant shall indemnify, defend and hold Landlord harmless from any and all losses and costs incurred by Landlord as a result of any such liens attributable to Tenant. If Tenant does
not discharge any lien or post a bond for such lien within such thirty (30) day period, Landlord may discharge such lien at Tenant’s expense and Tenant shall promptly reimburse Landlord for all costs incurred by

  
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Landlord in discharging such lien including, without limitation, attorneys’ fees and costs and interest on all sums expended at the Interest Rate. Tenant shall provide Landlord with not less
than ten (10) days written notice of its intention to have work performed at or materials furnished to the Premises so that Landlord may post appropriate notices of non-responsibility. Tenant shall pay
upon demand Landlord’s attorneys’ fees and other costs incurred in connection with any request by Tenant for any subordination or clarification of any Landlord lien right arising under this Lease or at law. 

34. MISCELLANEOUS PROVISIONS. 
 (a)
Time of Essence. Time is of the essence of each provision of this Lease. 
 (b) Successors. This Lease shall be binding on and
inure to the benefit of the parties and their successors, except as provided in Paragraph 19 herein. 
 (c) Intentionally Deleted.

 (d) Commissions. Each party represents that it has not had dealings with any real estate broker, finder or other person with
respect to this Lease in any manner, except for the broker(s) identified in Subparagraph 1(k) above. If either party has dealt with any other person or real estate broker with respect to leasing or renting the Premises, the party in breach of this
covenant shall be responsible for the payment of any fees due said person or firm and the breaching party shall hold the non-breaching party free and harmless and indemnify and defend the non-breaching party from any liabilities, damages or claims with respect thereto, including reasonable attorney’s fees and costs. Landlord shall be responsible to pay the commissions due to the Broker(s)
identified in Subparagraph 1(k) above pursuant to the terms and conditions of a separate agreement with the Broker(s). 
 (e)
Landlord’s Successors. The term “Landlord” in this Lease shall mean only the then current owner of the Premises, and in the event of a transfer of the Premises, such owner shall be released and discharged from all obligations
of Landlord thereafter accruing, but such obligations shall be binding during the Term of this Lease upon each new owner for the duration of such owner’s ownership. 

(f) Prior Agreement or Amendments. This Lease contains all of the agreements of the parties hereto with respect to any matter covered
or mentioned in this Lease, and no prior agreement or understanding pertaining to any such matter shall be effective for any purpose. No provisions of this Lease may be amended except by an agreement in writing signed by the parties hereto or their
respective successors-in-interest. 
 (g) Recording.
Tenant shall not record this Lease or a short form memorandum thereof without the consent of Landlord. Landlord may record a short form memorandum of this Lease and Tenant shall execute and acknowledge such form if requested to do so by Landlord.

 (h) Severability. Any provision of this Lease which shall prove to be invalid, void or illegal shall in no way affect, impair or
invalidate any other provision hereof, and all other provisions of this Lease shall remain in full force and effect. 
 (i) No
Partnership or Joint Venture. Nothing in this Lease shall be deemed to constitute Landlord and Tenant as partners or joint venturers. It is the express intent of the parties hereto that their relationship with regard to this Lease and the
Premises be and remain that of lessor and lessee. 

  
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 (j) Interpretation. When required by the context of this Lease, the singular shall
include the plural, and the masculine shall include the feminine and/or neuter. “Party” shall mean Landlord or Tenant. 
 (k)
No Light, Air or View Easement. Any diminution or blocking of light, air or view by any structure which may be erected on lands adjacent to the Building shall in no way affect this Lease or impose any liability on Landlord. 

(l) Governing Law. This Lease shall be governed by and construed pursuant to the laws of the State of California. 

(m) Mortgagee Protection. In the event of any default on the part of Landlord, Tenant will give simultaneous notice consistent with
Paragraph 25 to any beneficiary of a deed of trust, mortgagee, or ground lessor of the Premises of which Tenant has been given notice directions for (“Mortgagee” or Ground Lessor”), and shall offer such Mortgagee or Ground Lessor, a
reasonable opportunity to cure the default. 
 (n) WAIVER OF JURY TRIAL; JUDICIAL REFERENCE. 

 

	 	(i)	 Jury Trial Waiver. EACH PARTY HEREBY IRREVOCABLY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE
OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREBY, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW OR STATUTORY CLAIMS. EACH PARTY RECOGNIZES AND AGREES THAT
THE FOREGOING WAIVER CONSTITUTES A MATERIAL INDUCEMENT FOR IT TO ENTER INTO THIS AGREEMENT. EACH PARTY REPRESENTS AND WARRANTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL AND THAT IT KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS
FOLLOWING CONSULTATION WITH LEGAL COUNSEL. THIS PARAGRAPH 34(n)(i) IS SUBJECT IN ITS ENTIRETY TO PARAGRAPH 34(n)(ii) HEREOF. 

  

	 	(ii)	 Reference Provision. NOTWITHSTANDING ANYTHING TO THE CONTRARY IN THIS AGREEMENT, UNTIL SUCH TIME (IF AT
ALL) AS THE CALIFORNIA LEGISLATURE ENACTS A LAW THAT WOULD RENDER THE JURY TRIAL WAIVER SET FORTH IN PARAGRAPH 34(n)(i) HEREOF VALID AND ENFORCEABLE OR FOR ANY OTHER REASON A COURT OF COMPETENT JURISDICTION DETERMINES THAT THE JURY TRIAL WAIVER SET
FORTH IN PARAGRAPH 34(n)(i) HEREOF IS VALID AND ENFORCEABLE, THE REFERENCE PROVISION CONTAINED IN EXHIBIT J HERETO SHALL APPLY TO ANY SUIT, ACTION OR PROCEEDING COMMENCED PRIOR TO SUCH TIME IN LIEU OF THE JURY TRIAL WAIVER SET FORTH IN PARAGRAPH
34(n)(i) HEREOF. 

 (o) Intentionally Deleted. 

  
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 (p) Counterparts. This Lease may be executed in one or more counterparts, each of
which shall constitute an original and all of which shall be one and the same agreement. 
 (q) Financial Statements. Upon ten
(10) business days prior written request from Landlord (which Landlord may make no more often that one (1) time in any calendar year, other than in the event of a default by Tenant during such calendar year or in connection with
Landlord’s prospective sale or refinancing of the Building, when such limitation shall not apply), Tenant shall deliver to Landlord a current financial statement of Tenant and any guarantor of this Lease. Such statements shall be prepared in
accordance with generally acceptable accounting principles and certified as true in all material respects by Tenant (if Tenant is an individual) or by an authorized officer, member/manager or general partner of Tenant (if Tenant is a corporation,
limited liability company or partnership, respectively). Tenant may condition such delivery on Landlord’s execution of a commercially reasonable confidentiality agreement. 

(r) Cannabis. Tenant acknowledges and agrees that neither the Premises nor any portion of the Building and/or the Project shall be used
by Tenant for the use, growing, producing, processing, storing (short or long term), distributing, transporting, or selling of cannabis, cannabis derivatives, or any cannabis containing substances (“Cannabis”), or any office uses related
to the same. Without limiting the foregoing, the prohibitions in this Subparagraph shall apply to all Cannabis, whether such Cannabis is legal for any purpose whatsoever under state or federal law or both. Notwithstanding anything to the contrary,
any failure by Tenant to comply with each of the terms, covenants, conditions and provisions of this Subparagraph shall automatically and without the requirement of any notice be a default that is not subject to cure, and Tenant agrees that upon the
occurrence of any such default, Landlord may elect, in its sole discretion, to exercise all of its rights and remedies under this Lease, at law or in equity with respect to such default. 

35. TENANT’S ROOFTOP RIGHTS. Tenant shall have the non-exclusive right, at Tenant’s sole cost and
expense, to install satellite and communication equipment upon the roof of the Building and use existing fiber optic and television cables presently located in the Building without any representation or warranty by Landlord as to the condition of
the same (collectively, the “Rooftop Equipment”) under the following conditions: (i) all plans and specifications for the Rooftop Equipment, including but not limited to, weight, configuration, location, means of installation, cabling
and screening of the Rooftop Equipment are subject to the prior reasonable approval of Landlord; (ii) Tenant shall provide evidence to Landlord that Tenant has obtained all governmental approvals and permits required for the installation and
operation of the Rooftop Equipment; (iii) Tenant shall provide evidence to Landlord of insurance coverage for the installation, location, repair, removal, and operation of the Rooftop Equipment, with Landlord as an additional insured, all in
form and substance reasonably approved by Landlord and such insurance shall be maintained during the Term of this Lease; (iv) Tenant shall indemnify, defend, and hold Landlord harmless from and against any and all loss, liability, cost and
expense incurred by Landlord as a result of the installation, location, repair, removal, or operation of the Rooftop Equipment on the Building; (v) Tenant shall be responsible for the installation, engineering, maintenance, repair and removal
of the Rooftop Equipment and appurtenant equipment in accordance with all federal, state and local laws, and ordinances; (vi) no roof penetrations shall be made unless (a) Tenant provides Landlord with thirty (30) days prior written
notice of Tenant’s intention to perform such roof penetrations, and (b) Tenant utilizes Landlord’s contractor to perform such roof penetrations, which roof penetrations shall be directed by Landlord in a manner consistent with the
roof penetration requirements of comparable institutional owners of comparable Class A industrial buildings in the same market area; (vii) Tenant shall be responsible for any impairment of Landlord’s roof warranty as a result of
installation of the Rooftop Equipment; (viii) Tenant shall, at its own expense, promptly repair any damage to the roof resulting from the installation (normal wear and tear excluded) and use of the Rooftop Equipment and appurtenant equipment;
and (x) the operation of the Rooftop Equipment shall be for Tenant’s internal use only. Landlord shall grant Tenant access to the roof for such installation, maintenance, repair, and removal of 

  
 -39- 

 
the Rooftop Equipment. Upon the expiration of this Lease, Tenant shall promptly remove the Rooftop Equipment and appurtenant equipment and repair any damage caused by such removal.
Notwithstanding the foregoing and except for equipment installed as part of the Base Building Work (and reasonably equivalent replacements thereof), Landlord shall not install and shall not grant third parties any rights to install satellite and
communication equipment or other equipment upon the roof of the Building. 
 36. LEASE EXECUTION. 

(a) Authority. If Tenant executes this Lease as a partnership or corporation, then Tenant and the persons and/or entities executing
this Lease on behalf of Tenant represent and warrant that: (a) Tenant is a duly authorized and existing partnership or corporation, as the case may be, and is qualified to do business in the state in which the Building is located; (b) such
persons and/or entities executing this Lease are duly authorized to execute and deliver this Lease on Tenant’s behalf in accordance with the Tenant’s partnership agreement (if Tenant is a partnership), or a duly adopted resolution of
Tenant’s board of directors and the Tenant’s by-laws (if Tenant is a corporation); and (c) this Lease is binding upon Tenant in accordance with its terms. Landlord represents and warrants to
Tenant that (i) Landlord is the fee owner of the Premises and the Premises Land, and (ii) such persons and/or entities executing this Lease are duly authorized to execute and deliver this Lease on Landlord’s behalf. 

(b) Joint and Several Liability. If more than one person or entity executes this Lease as Tenant: (a) each of them is and shall be
jointly and severally liable for the covenants, conditions, provisions and agreements of this Lease to be kept, observed and performed by Tenant; and (b) the act or signature of, or notice from or to, any one or more of them with respect to
this Lease shall be binding upon each and all of the persons and entities executing this Lease as Tenant with the same force and effect as if each and all of them had so acted or signed, or given or received such notice. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
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 IN WITNESS WHEREOF, the parties have executed this Lease as of the date first above written.

  

															
	 TENANT:
  

ROCKET LAB USA, INC.

a Delaware corporation
	 		 	 LANDLORD:
  

DOUGLAS PARK ASSOCIATES in, LLC,

a Delaware limited liability company

					
	By:	 	 /s/ Adam Spice
	 		 	By:	 	 SRG Long Beach III, L.P.,

a California limited partnership

		 	 Name: Adam Spice
	 		 		 	 Its:
	 	 Managing Member

		 	 Its: CFO
	 		 		 		 	
						
		 		 		 		 	By:	 	 Regis Contractors, Inc.,

a California corporation

		 		 		 		 		 		 	Its:	 	 General Partner

	By:	 	 	 		 		 		 	
		 	 Name:
	 	 	 		 		 		 	
		 	 Its:
	 	 	 		 		 		 	
		 		 		 		 		 	By:	 	 /s/ Larry Lukonish

		 		 		 		 		 		 	 Name:
	 	 Larry Lukonish

		 		 		 		 		 		 	 Its:
	 	Authorized Agent

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