Document:

EX-10.12

 Exhibit 10.12 

LEASE 
 By and Between

 4C Realty, LLC 

(“Landlord”) 

and 
 Presidio Networked
Solutions, Inc. 
 (“Tenant”) 

  
 1 

 LEASE 

THIS LEASE is made this 17th day of September, 2014, by and between 4C Realty, Inc. (“Landlord”) with a mailing address of 6 Mallard
Drive, Huntington, NY 11743 and Presidio Networked Solutions, Inc. (“Tenant”) with a mailing address of 12120 Sunset Hills Road, Suite 202, Reston, VA, 20190. 

RECITALS: 

Landlord, for and in consideration of the rents and all other charges and payments hereunder and of the covenants, agreements, terms,
provisions and conditions to be kept and performed hereunder by Tenant, grants and conveys to Tenant, and Tenant hereby hires and takes from Landlord, a leasehold interest in the premises described below (the “Premises”), subject to all
matters hereinafter set forth and upon and subject to the covenants, agreements, terms, provisions and conditions of this Lease for the term hereinafter stated. 

NOW THEREFORE Landlord and Tenant hereby agree to the following: 
  

	1.	TERMS. 

 1.1 Premises. The “Premises” demised by this Lease are
approximately 16,150 rentable square feet in the single story building located at 110 Parkway Drive South, Hauppauge, NY, 11788 (the “Building”), together with a nonexclusive right to use parking and other common areas. The location and
dimensions of the Premises are shown on Exhibit A, attached hereto and incorporated herein by reference. 
 1.2 Tenant’s
Share. “Tenant’s Share” shall mean a fraction, the numerator of which is the total rentable square footage of the Premises, and the denominator of which is the total rentable square footage of the Building. Tenant’s Share as
of the date of execution of this Lease is eighty one percent (81 %), (calculated as 16,150/20,000). Tenant’s Share shall be adjusted for changes in the total rentable square footage of the Premises and/or Building, including without limitation
changes which may result from any condemnation or other taking of a portion of the Building. 
 1.3 Lease Term. The term of this
Lease (the “Term” or “Lease Term”) shall commence on the Commencement Date, as defined in Section 1.4, and shall expire December 31, 2019 (the “Lease Expiration Date”) 

1.4 Commencement Date. The “Commencement Date” shall be January 1, 2015 in a condition required pursuant to the terms of
Exhibit B. Exhibit B includes a Landlord provided tenant improvement allowance of $15.00 per RSF, or $242,250.00. 
 1.5 Rent.
The base rent payable by Tenant hereunder (“Base Rent”) is set forth in Section 1.5.1, below. In addition to the Base Rent, Tenant shall pay for its own electricity costs for HVAC, overhead lights and outlets. All other costs as
outlined in the lease shall be paid by Landlord and included as part of the Base Rent, including, but not limited to: real estate taxes, water, sewer, repair and maintenance, capital repairs, insurance, trash removal and janitorial costs. Base Rent
shall be payable monthly, in advance, on the first day of each calendar month of the Term, without prior notice, demand, deduction or offset. 

  
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 1.5.1 The monthly payments of Base Rent for the Premises (which may be referred to herein as
“Monthly Rent”) shall be as follows: 
  

													
	 Months
	  	Annual Base Rent
Per Rentable
Square Foot	 	  	Annual Base Rent	 	  	Monthly Base Rent	 
	 1-12
	  	$	18.50	  	  	$	298,776.00	  	  	$	24,898.00	  
	 13-24
	  	$	19.06	  	  	$	307,740.00	  	  	$	25,645.00	  
	 25-36
	  	$	19.63	  	  	$	316,968.00	  	  	$	26,414.00	  
	 37-48
	  	$	20.22	  	  	$	326,484.00	  	  	$	27,207.00	  
	 49-60
	  	$	20.82	  	  	$	336,276.00	  	  	$	28,023.00	  

 1.6 Additional Rent. Any sum owed or reimbursable by Tenant to Landlord under this Lease (excluding
monthly Base Rent) shall be considered “additional rent” hereunder. 
 1.7 Notice and Payment Addresses. The notice
addresses of the parties are as follows: 
  

					
	If to Landlord:	  	 4C Realty, LLC
 Attn: Christopher Cagnazzi

6 Mallard Drive
 Huntington, NY 11743
	  	
			
	If to Tenant:	  	 Paul D. Fletcher, CFO
 Presidio Networked
Solutions, Inc.
 12120 Sunset Hills Road, Suite 202
 Reston, VA
20190
	  	
			
		  	with a copy to:	  	
			
		  	 Presidio Networked Solutions, Inc.
 Attn:
Divisional CFO, Tri-State Area
 110 Parkway Drive South

Hauppauge, NY, 11788
	  	

 Either party may, upon ten (10) days prior written notice to the other, designate a new address to which all notices
hereunder shall be directed. 
 1.9 Rent Payment Address. Tenant shall send payments of Base Rent and additional rent hereunder to
Landlord at the following address: 
  

					
		  	 4C Realty, LLC
 Attn: Christopher Cagnazzi

6 Mallard Drive
 Huntington, NY 11743
	  	

 Landlord may, upon ten (10) days prior written notice to Tenant, designate a new address to which all payments of Base
Rent and additional rent hereunder shall be sent. 

  
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 1.10 Lease Year. Each twelve (12) month period within the Lease Term shall be
referred to herein as a “Lease Year.” The first Lease Year shall commence on the Commencement Date and terminate on the last day of the twelfth full calendar month after such Commencement Date. Each subsequent Lease Year shall commence on
the date immediately following the last day of the preceding Lease Year and shall continue for a period of twelve (12) full calendar months, except that the last Lease Year of the Lease Term shall terminate on the date this Lease expires or is
otherwise terminated. 
 1.11 Deed of Lease. To the extent required under applicable law to make this Lease legally effective, this
Lease shall constitute a deed of lease. 
 2. PAYMENT OF RENT & ADDITIONAL RENT. Tenant shall pay Landlord the Rent due under this Lease in
lawful money of the United States. Base shall be paid in advance on or before the first day of each month at the address noted in Section 1.9, or to such other party or at such other place as Landlord may hereafter from time to time designate
in writing. Base Rent under this Lease for any partial month at the beginning of the Lease Term shall be prorated based on the Base Rent in effect for the first month in which Base Rent is payable hereunder. All other payments due under this Lease
shall be paid no later than five (5) business days after the date Landlord provides Tenant with a written request for payment which sets forth the amount due. In the event of any dispute concerning the computation of the amount of any
additional rent due, Tenant shall pay the amount specified by Landlord pending the resolution of the dispute, provided such payment shall be without prejudice to Tenant’s right to continue to challenge the disputed computation. In the event
that Tenant successfully challenges the disputed computation, Landlord shall refund to Tenant the amount of any overpayment of such additional rent within thirty (30) days after the dispute is finally resolved. 

3. SECURITY DEPOSIT. Landlord shall return the existing security deposit of $25,016.66. 

4. USES; TENANT COVENANTS. 
 4.1
Permitted Use. The Premises are to be used for general office, administrative, light assembly and warehouse purposes only (the “Permitted Use”) and for no other business or purpose. 

4.2 Other General Use Covenants. 

4.2.1 Tenant shall not commit or allow to be committed any waste upon the Premises, nor any public or private nuisance nor any other act which
disturbs the quiet enjoyment of any other tenant in the Building. 
 4.2.2 A. Tenant will, at its own cost, promptly comply with and carry
out all Requirements (defined below) applicable to (i) the specific manner of Tenant’s occupation or use of the Premises, (ii) the conduct of Tenant’s business therein, or (iii) the construction of any improvements or
alterations therein by (or at the request of) Tenant. The term “Requirements” shall mean all orders, requirements or conditions now or hereafter imposed upon Tenant by the ordinances, laws, rules, orders, and/or regulations (including
without limitation all present and future laws, orders and regulations regarding recycling of trash and smoking in the workplace, and all building and life safety codes) of the state in which the Premises are located and the federal government and
any other federal, state, or local governmental authority, or public or quasi-public authority, having jurisdiction over the Premises. Tenant, at Tenant’s cost, shall be responsible for ensuring that Tenant’s policies and business
operations with respect to the Premises comply with the physical accessibility requirements of Title III of the Americans With Disabilities Act (such requirements, the “ADA”), and that all Alterations and Tenant Work complies with the ADA.

  
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 B. From and after the Commencement Date, and except to the extent non-compliance is caused by
the affirmative acts or negligence of Tenant or Tenant’s Agents, Landlord shall be responsible, at Landlord’s sole expense (except as provided below), for compliance with all Requirements as they relate to the Building and the Property
generally (but excluding such compliance as it relates to any specific Tenant Work, Tenant alterations and or installations by Tenant of Tenant’s fixtures, furniture and equipment, which shall be Tenant’s sole responsibility), and
excluding any unusual requirements attributable to or derived from Tenant’s specific use of the Premises (as opposed to general ADA accessibility requirements applicable to general office use in a single story office building, which shall be
Landlord’s responsibility). 
 4.2.3 Tenant shall observe such reasonable rules and regulations as may be adopted and made available to
Tenant by Landlord from time to time for the safety, care and cleanliness of the Premises or the Building and for the preservation of good order therein. The initial rules and regulations for the Building are attached as Exhibit C hereto and
made a part hereof by this reference (as the same may be amended in accordance herewith, the “Rules and Regulations”). Landlord shall have the right from time to time to make reasonable modifications to the Rules and Regulations upon not
less than thirty (30) days prior notice to Tenant. 
 4.2.4 No act shall be done or knowingly permitted by Tenant, or its agents,
employees and/or contractors, in or about the Premises that is unlawful or that will increase the existing rate of insurance on the Building. In the event the existing rate of insurance is increased because of any breach by Tenant of this covenant,
Tenant shall pay to Landlord any and all fines, penalties, and/or increases in insurance premiums resulting from such breach. 
 5. ENVIRONMENTAL
PROVISIONS; RECYCLING. 
 5.1 General. Tenant agrees to comply with any and all Environmental Laws (defined below) in connection
with (1) Tenant’s use of the Premises, (2) any assignment, sublease or license of the Premises or any part thereof by Tenant, (3) any termination of this Lease and surrender of possession upon a default by Tenant hereunder,
(4) any corporate reorganization, consolidation, recomposition or similar change in Tenant’s organization, (5) any acts, omissions and other activities of Tenant in or on the Building and the Land, and/or (6) any other fact or
circumstance the existence and continuation of which imposes upon Tenant the obligation to comply therewith. 
 5.2 Tenant’s
Warranties and Covenants. During the Term and any Renewal Term of this Lease, Tenant warrants, represents and covenants to and with Landlord as follows: 

5.2.1 The Premises will not, as the result of any acts or omissions of Tenant, contain (A) asbestos in any form, (B) urea
formaldehyde foam insulation, (C) transformers or other equipment which contain dielectric fluid containing levels of polychlorinated biphenyls in excess of fifty (50) parts per million, or (D) any flammable explosives, radioactive
materials, hazardous materials, hazardous wastes, hazardous, controlled or toxic substances, or any pollutant or contaminant, or related materials defined in or controlled pursuant to the Comprehensive Environmental Response, Compensation and
Liability Act of 1980, as amended (42 U.S.C. Sections 9601 et seq.), the Hazardous Materials Transportation Act, as amended (49 U.S.C. Sections 1801 et seq.), the Resource Conservation and Recovery Act, as amended (42 U.S.C. Sections 9601 et seq.),
the Federal Water Pollution Control Act (33 U.S.C. Section 1251 et seq.), the Clean Air Act (42 U.S.C. Section 7401 et seq.), and in the regulations adopted and publications promulgated pursuant thereto, and any and all other federal,
state and local laws, rules and regulations or orders pertaining to health, the environment and/or Hazardous Materials (collectively, “Environmental Laws”) (the substances described in (A), (B), (C) or (D) above being hereinafter
collectively referred to as “Hazardous Materials”). 

  
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 5.2.2 Except as specifically permitted by this Lease, the Premises will never be used by Tenant
for any activities involving, directly or indirectly, the use, generation, treatment, transportation, storage or disposal of any Hazardous Materials. 

5.2.3 Tenant (A) shall comply in the operation of its business, and in its use and occupancy of the Premises, with all Environmental
Laws, (B) shall not store, utilize, generate, treat, transport or dispose of (or permit or acquiesce in the storage, utilization, generation, transportation, treatment or disposal of) any Hazardous Materials on or from the Premises, and
(C) shall cause its employees, agents, contractors, assignees, sublessees, licensees and (while within the Premises) invitees and business visitors to comply with the representations, warranties and covenants herein contained. For all purposes
of this Section 5, references to “Tenant” shall be deemed to include acts and omissions committed by Tenant and Tenant’s agents, employees, contractors, subcontractors, assignees, sublessees, licensees and, while within the
Premises, invitees and business visitors. 
 5.2.4 In the event of any storage, presence, utilization, generation, transportation, treatment
or disposal of Hazardous Materials by Tenant in, on or about the Premises, Building and/or Land, or in the event of any Hazardous Materials Release (as hereinafter defined) for which Tenant bears responsibility under the provisions of this
Section 5, Tenant shall, at the direction of Landlord or any federal, state, or local authority or other governmental authority, remove or cause the removal of any such Hazardous Materials and rectify any such Hazardous Materials Release, and
otherwise comply or cause compliance with the laws, rules, regulations or orders of such authority, all at the expense of Tenant, including without limitation, the undertaking and completion of all investigations, studies, sampling and testing and
all remedial, removal and other actions necessary to clean up and remove all such Hazardous Materials, on, from or affecting the Premises. 

5.2.5 Tenant hereby indemnifies and holds Landlord and each of its shareholders, subsidiaries, affiliates, officers, directors, partners,
employees, agents and trustees, harmless from, against, for and in respect of, any and all actual damages, losses, settlement payments, obligations, liabilities, claims, actions or causes of actions, encumbrances, fines, penalties, and costs and
expenses suffered, sustained, incurred or required to be paid by any such indemnified party (including, without limitation, reasonable fees and disbursements or attorneys, engineers, laboratories, contractors and consultants) because of, or arising
out of or relating to (A) the violation by Tenant (or any of its agents, employees, contractors and, while within the Premises, invitees) of any of its representations, warranties and covenants under this Section 5, and (B) any
Environmental Liabilities (as hereinbelow defined) in connection with the Premises for which Tenant is responsible under the terms of this Section 5 of the Lease. For purposes of this indemnification clause, “Environmental
Liabilities” shall include all costs and liabilities with respect to the future presence, removal, utilization, generation, storage, transportation, disposal or treatment of any Hazardous Materials or any release, spill, leak, pumping, pouring,
emitting, emptying, discharge, injection, escaping, leaching, dumping or disposing into the environment (air, land or water) of any Hazardous Materials (each a “Hazardous Materials Release”), including without limitation, cleanups,
remedial and response actions, remedial investigations and feasibility studies, permits and licenses required by, or undertaken in order to comply with the requirements of, any federal, state or local law, regulation, or agency or court, any damages
for injury to person, property or natural resources, claims of governmental agencies or third parties for cleanup costs and costs of removal, discharge, and satisfaction of all liens, encumbrances and restrictions on the Premises relating to the
foregoing. The foregoing indemnification and the responsibilities of Tenant under this Section 5 shall survive the termination or expiration of this Lease. Tenant shall promptly notify Landlord in writing of the occurrence of any Hazardous

  
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Materials Release or any pending or threatened regulatory actions known to Tenant, or any claims made by any governmental authority or third party, relating to any Hazardous Materials or
Hazardous Materials Release on or from, the Premises and shall promptly furnish Landlord with copies of any correspondence or legal pleadings or documents in connection therewith. Landlord shall have the right, but shall not be obligated, to notify
any governmental authority of any state of facts which may come to its attention with respect to any Hazardous Materials or Hazardous Materials Release on or from the Premises. 

5.3 Landlord’s Warranties and Covenants. 

Landlord hereby represents that, to the best of its knowledge, as of the date of this Lease, there are no hazardous substances or hazardous wastes located in
the Premises which violate any Environmental Laws. Landlord shall indemnify, defend, and hold harmless Tenant from and against any and all liabilities, damages, claims, losses, judgments, causes of action, and reasonable costs and expenses
(including the reasonable fees and expenses of counsel) that may be incurred by Tenant or threatened against Tenant, relating to or arising out of, hazardous substances or hazardous wastes that were located on the Property as of the Commencement
Date, or were introduced onto the Property after the Commencement Date by the acts of Landlord or Landlord’s agents. 
 6. INTEREST ON UNPAID
AMOUNTS. If any Base Rent or additional rent due from Tenant to Landlord is not paid within five (5) business days after the date due, such unpaid amount shall bear interest from the date originally due until the date paid at an annual rate
of interest (the “Default Rate”) equal to the lesser of (a) the Prime Rate plus three percent (3%) or (b) the highest annual rate of interest permitted under applicable law. Landlord’s acceptance of such interest shall
not constitute a waiver of Tenant’s default with respect to such overdue amount or estop Landlord from exercising any of the other rights and remedies granted hereunder. The term “Prime Rate” shall mean the “Prime Rate” of
interest as published from time to time in the Wall Street Journal, or if not so published, then the “Prime Rate” as established from time to time by the bank in which Landlord maintains its bank accounts with respect to the Building. 

7. REPAIRS AND MAINTENANCE. 
 7.1
Landlord’s Responsibilities. Landlord shall maintain or cause to be maintained, and after receiving notice or actual knowledge of the need for repair, shall repair and/or replace (as necessary) all Building Systems (as hereafter
defined), Common Areas (as hereafter defined) and Structural Elements (as hereafter defined) at its sole cost and expense, provided that, to the extent any of such maintenance or repairs is rendered necessary by the negligence or willful misconduct
of Tenant, its agents, customers, employees, independent contractors, guests or (while within the Premises) invitees, then Tenant shall be obligated to reimburse Landlord for all costs sustained by Landlord in connection therewith, which
reimbursement shall be due no later than ten (10) days after Landlord’s written demand. For the purposes of this Section 7, “Building Systems” shall mean the mechanical, electrical, plumbing, elevator, sprinkler, and HVAC
systems serving the Building and the Premises; “Common Areas” shall mean those areas of the Building which are available for the non-exclusive use of any tenant of the Building, including without limitation parking areas, lobbies,
elevators, restrooms, stairs, corridors, janitor’s closets, and electrical and telephone closets; and “Structural Elements” shall mean the structural components of the Building’s base building improvements, including structural
components which integrate with the interior tenant improvements within the Premises, including without limitation the roof, foundations, exterior structural walls and other load-bearing elements of the Building. 

  
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 7.2 Tenant’s Responsibilities. Repairs to the interior of the Premises to the extent
the same are rendered necessary by the negligence or willful misconduct of Tenant and its agents, employees and independent contractors 

7.3 Notification Requirements. Landlord shall be under no obligation to inspect the Premises. Tenant shall promptly report in writing
to Landlord any defective condition in the Premises actually known to Tenant which Landlord is required to repair, and failure to so report such defects shall excuse any delay by Landlord in commencing and completing such repair to the extent the
same would otherwise be Landlord’s responsibility under this Lease. 
 7.4 Expenses. All expenses incurred by Landlord pursuant
to this Section 7 (to the extent not payable directly by Tenant as above provided) will be included within “Operating Expenses” as defined in Section 9, below, except to the extent excluded under Section 9.6. 

8. UTILITIES AND SERVICES PROVIDED BY TENANT AND LANDLORD. 

8.1 Landlord shall provide access to electrical facilities as is reasonably necessary to provide for lighting and for the operation of normal
and customary office machines, heating, ventilation and air-conditioning (“HVAC”) service. Tenant shall be responsible for the cost of all electricity and for separately contracting with the utility companies. Landlord shall be responsible
for all other costs of operating the building, including, but not limited to: 1) hot and cold water to Premises, common area restrooms, 2) Janitorial services to the Premises and common areas to a level of service consistent with class A/B office
space, 3) real estate taxes, 4) sewer, 5) repair and maintenance of Premises and common area, 6) capital repairs, 7) insurance, 8) trash removal, 9) HVAC maintenance, excluding the NOC, Data Center, Staging Facility and Warehouse, 10) landscaping.
Landlord services shall be provided on all days except the following holidays: New Year’s Day, Martin Luther King, Jr. Day, President’s Day, Memorial Day, Independence Day, Labor Day, Columbus day, Veterans Day, Thanksgiving Day, the day
after Thanksgiving, Christmas Day and any holiday designated as such by an Executive Order of the President of the United States or by Act of Congress, herein collectively referred to as (“Holidays”). 

8.2 Additional HVAC Service. Tenant shall have the right to operate the HVAC system at such times as Tenant considers necessary or
appropriate, and shall pay all utility expenses associated costs with such after-hours usage 
 8.3 Additional Provisions. Landlord
shall not be liable to Tenant for any loss, injury or damage to property, or loss of income or other business loss, caused by or resulting from any variation, interruption, or failure of such services due to any cause whatsoever, or from failure to
make any repairs or perform any maintenance. In addition, Landlord shall not be liable to Tenant for (a) any damage to the Premises, (b) any loss, damage or injury to any property therein or thereon, (c) any claims for the
interruption of or loss to Tenant’s business or (d) for any indirect damages or consequential losses, to the extent occasioned by bursting, rupture, leakage or overflow of any plumbing or other pipes, other water leakage or flooding, or
other similar causes in, above, upon or about the Premises or the Building. If any public utility or governmental body shall require Landlord or Tenant to restrict the consumption of any utility or reduce any service to the Premises or the Building,
Landlord and Tenant shall comply with such requirements, without any abatement or reduction of the Base Rent, additional rent or other sums payable by Tenant hereunder. Notwithstanding the foregoing or anything else in this Lease, but subject to the
provisions of Article 17, below, in the event that Tenant is prevented by the negligent or intentional act of Landlord from using, and does not use, the Premises or any portion thereof for 

  
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three (3) consecutive business days or for ten (10) business days in any twelve (12) month period (the “Eligibility Period”) as a result of any interruption of utilities
or services or access (including elevator access) or any repair, maintenance or alteration performed by Landlord after the Lease Commencement Date (other than repairs undertaken after a casualty pursuant hereto) which renders the Premises
inaccessible or untenantable (the foregoing circumstances being referred to herein as “Suspension Events”), then all Base Rent and additional rent payable hereunder shall be reduced after expiration of the Eligibility Period for such time
that Tenant continues to be prevented from using, and does not use, the Premises or a portion thereof, in the proportion that the rentable area of the portion of the Premises that Tenant is prevented from using, and does not use, bears to the total
rentable area of the Premises; provided that, any interruption of utilities or services resulting from Tenant’s failure to timely pay for any electricity that is billed directly to Tenant by the electric utility shall not be deemed a Suspension
Event and shall not entitle Tenant to any rent abatement hereunder. Landlord will in all events repair and restore any such interrupted services or utilities as soon as reasonably, practicable following the interruption thereof. 

9. OPERATING EXPENSES. Deleted. 
 10. REAL ESTATE
TAXES. Deleted. 
 11. ADDITIONAL PROVISIONS; OPERATING EXPENSES AND REAL ESTATE TAXES. Deleted. 

12. TENANT’S INSURANCE. 
 12.1
Coverage Requirements. Tenant shall during the Term of this Lease, procure at its expense and keep in force the following insurance: 

(i) Commercial general liability insurance against any and all claims for bodily injury and property damage occurring in or about the Premises,
having a combined single limit of not less than One Million Dollars ($1,000,000) per occurrence with a Two Million Dollar ($2,000,000) aggregate limit and excess umbrella liability insurance in the amount of Two Million Dollars ($2,000,000), and
naming the Landlord and Landlord’s managing agent as additional insureds. If Tenant has other locations that it owns or leases, the policy shall include an aggregate limit per location endorsement. Such liability insurance shall be primary and
not contributing to any insurance available to Landlord and Landlord’s insurance shall be in excess thereto. 
 (ii) personal property
insurance insuring all equipment, trade fixtures, inventory, fixtures and personal property located within the Premises for perils covered by the causes of loss — special form (all risk) and in addition, coverage for flood, earthquake and
boiler and machinery (if applicable), which insurance shall be written on a replacement cost basis in an amount equal to one hundred percent (100%) of the full replacement value of the aggregate of the foregoing; 

(iii) workers’ compensation insurance in accordance with statutory laws and employers’ liability insurance with a limit of not less
than One Hundred Thousand Dollars ($100,000) per employee and Five Hundred Thousand Dollars ($500,000) per occurrence; 
 (iv) business
interruption and/or loss of rental insurance in an amount equal to at least to the next twelve (12) months of the Base Rent payable by Tenant hereunder, and which shall not contain a deductible greater than an amount equal to seventy-two
(72) hours of the Base Rent in effect at such time (or an equivalent amount expressed in dollars), and which shall name Landlord as an additional insured; and 

  
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 (v) such other insurance as may reasonably and customarily be required by Landlord’s
beneficiaries or mortgagees of any deed of trust or mortgage encumbering the Premises, consistent with the insurance requirements imposed upon other similar tenants in leases of other first class office buildings in the area in which the Building is
located, provided this provision shall never be invoked more than once every three (3) years in order to change the insurance required of Tenant hereunder. 

The policies required to be maintained by Tenant shall be with companies rated A or better in the most current issue of A. M. Best’s Insurance Reports,
and licensed to do business in the state in which the Premises are located and domiciled in the USA. Except as provided above, any deductible amounts under any insurance policies required hereunder shall not exceed One Thousand Dollars ($1,000).
Evidence of insurance (certificates and copies of the policies may be required) shall be delivered to Landlord prior to the Commencement Date. Each policy of insurance shall provide notification to Landlord at least thirty (30) days prior to
any cancellation or modification. Tenant shall have the right to provide insurance coverage which it is obligated to carry pursuant to the terms hereof in a blanket policy, provided such blanket policy expressly affords coverage to the Premises and
to Landlord as required by this Lease. 
 12.2 Self-Insurance. The foregoing notwithstanding, provided Tenant has and maintains a
minimum net worth (i.e., tangible assets in excess of liabilities) of One Hundred Million Dollars ($100,000,000.00) or more, Tenant shall have the right to self-insure its coverages under Section 12.1, above (other than any statutorily required
workers compensation insurance), provided (i) such self-insurance shall be deemed to be the functional equivalent of third party insurance, including without limitation, for purposes of Article 17 hereof, and (ii) Tenant shall provide to
Landlord with reasonable evidence, at a minimum consistent with the evidence of Tenant’s net worth provided as of the inception date of this Lease, of its satisfaction of the foregoing minimum net worth requirement as a precondition to such
self-insurance (provided that Tenant’s financial statements as filed with the SEC under any annual report or quarterly report filed by Tenant with the SEC shall constitute definitive evidence of Tenant’s net worth for purposes of this
provision). 
 13. LANDLORD’S INSURANCE. 

13.1 Generally. At all times during the Lease Term, Throughout the Lease Term, Landlord shall insure the Building against loss due to
fire and other casualties in the form of one hundred percent (100%) replacement value insurance, covering the Building and all leasehold improvements therein (i.e., the improvements originally constructed as of the Rent Commencement Date),
under all-risk extended coverage insurance policies that also include boiler and machinery coverage, and coverage for earthquake, flood, terrorism (and any other reasonable and customary coverages required by Landlord’s lender which are
consistent with other similar class office buildings in the Hauppauge area). Throughout the Lease Term, Landlord shall obtain and maintain commercial general liability insurance in a company or companies licensed to do business in the State in which
the Premises is located, with an A.M Best rating of A or higher. Such insurance shall be in minimum amounts of Two Million Dollars ($2,000,000) per occurrence plus a general aggregate of Five Million Dollars ($5,000,000) for injury to persons and
damage to property and shall be for a minimum term of one (1) year. Landlord and Tenant may re-evaluate such minimum amount at the expiration of every third (3rd) Lease Year and such minimum amounts may be adjusted as appropriate to be
consistent with other similar class office buildings in the Hauppauge area, provided, however, in no event shall such minimum amounts be adjusted downward without the approval of the holder of any then applicable mortgagee of

  
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Landlord. Throughout the Lease Term, Landlord shall also obtain and maintain a policy of insurance protecting Landlord from loss of rents and other charges during the period while the Premises
are untenantable due to fire or other insured casualty. Landlord’s commercial general liability insurance policy shall name Tenant as an additional insured. 

13.2 Additional Provisions. Receipts or certificates evidencing payment of the premiums for such insurance shall be delivered by
Landlord to Tenant if requested by Tenant. Landlord’s casualty insurance policy shall contain an endorsement prohibiting cancellation or reduction of coverage without first giving Tenant at least thirty (30) days’ prior written notice
of such proposed action. Tenant acknowledges and agrees that all premiums for insurance obtained by Landlord pursuant to Section 13.1 shall be included within “Operating Expenses,” as such term is defined in Section 9.5, above.

 14. DAMAGE OR DESTRUCTION. 
 14.1
Generally. If the Premises shall be destroyed or rendered untenantable, either wholly or in part, by fire or other casualty, then unless Landlord has and exercises the right to terminate this Lease as and to the extent hereafter provided, and
subject to Section 14.2, below, this Lease shall continue in full force and effect, and Landlord shall, promptly after adjusting the insurance claim and obtaining governmental approvals for reconstruction, commence and diligently prosecute to
completion the restoration of the Premises to their condition immediately prior to such casualty, subject to Section 14.4 below and subject to Force Majeure (as defined in Section 47.8, below) or delay caused by Tenant. Pending substantial
completion of such restoration, the Base Rent shall be abated in the same proportion as the untenantable portion of the Premises bears to the whole thereof. The provisions of this Section 14.1 are in lieu of any statutory termination provisions
allowable in the event of casualty damage. Other than rental abatement as and to the extent provided in Section 14.1, no damages, compensation or claim shall be payable by Landlord for inconvenience or loss of business arising from interruption
of business, repair or restoration of the Building or the Premises. 
 14.2 Limited Right of Termination by Landlord due to Casualty.
If the Building shall be materially destroyed or damaged to such an extent that the restoration of the Building is, in Landlord’s reasonable judgment, not economical or feasible under then present market conditions (and not because of
Landlord’s dissatisfaction with the rental rate provided for in this Lease at such time), then Landlord may, at its election, terminate this Lease by notice in writing to Tenant delivered within thirty (30) days after the date of the
casualty, provided (i) Landlord must, as a condition precedent to the effectiveness of any such termination, terminate all other leases in the Building and as a condition subsequent to such termination, demolish all damaged portions of
the Building to a safe and sightly condition, and (ii) Landlord shall not restore or reconstruct the Building (or any damaged portions thereof) for at least three (3) years following the date of such notice of termination. Any timely
notice of termination pursuant to this Section 14.2 shall be effective thirty (30) days after receipt thereof by Tenant. 
 14.3
Limited Right of Termination by Tenant due to Casualty. If Landlord does not have the right to terminate the Lease under the provisions of Section 14.2, above, or Section 14.4, below, then the following provisions shall apply: 

14.3.1 Landlord shall, within thirty (30) days after the date of such casualty, provide Tenant with Landlord’s good faith written
estimate, derived from the review of the damage by an architect and/or contractor reasonably acceptable to both Landlord and Tenant (the “Estimate”) of how long it will take to repair or restore the damaged portions of the Premises and/or
Building. If the portion of the Premises which is rendered unusable by such casualty exceeds twenty percent (20%) of the total square footage thereof, and the Estimate provides that it 

  
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will require in excess of one-hundred eighty (180) days after the date of the casualty to fully repair or restore the Premises and/or Building (as applicable) in accordance herewith, then,
within thirty (30) days after Landlord delivers Tenant the Estimate, Tenant shall have the right to terminate this Lease by written notice to Landlord, which termination shall be effective as of the date of such notice of termination, and all
liabilities and obligations of Landlord and Tenant thereafter accruing shall terminate and be of no legal force and effect except as otherwise specifically set forth herein. 

14.3.2 If neither party elects to terminate the Lease as and when provided pursuant to this Article 14, Landlord will use all reasonable and
diligent efforts to commence and complete its restoration of the Premises promptly, and in the event Landlord does not complete such restoration within one hundred eighty (180) days after the date of the casualty (or such longer period as was
referenced in the Estimate accepted by Tenant, if applicable), as such period may be extended due to Force Majeure (not to exceed 60 days in the aggregate) or due to any delays in the completion thereof caused by the interference or other acts or
omissions of Tenant or Tenant’s agents, employees and contractors, then at any time after the expiration of such period and prior to the date Landlord completes its restoration of the Premises, Tenant shall again have the right to terminate
this Lease upon thirty (30) days prior written notice to Landlord; provided, however, that if Landlord substantially completes such restoration prior to the end of the thirty (30) day notice period, Tenant’s notice of termination
shall be deemed rescinded and ineffective for all purposes, and this Lease shall continue in full force and effect. 
 14.4 End of Term
Casualty. Notwithstanding anything to the contrary contained herein, in the event the Premises are damaged during the last two (2) years of the Term to an extent that the repairs would exceed $500,000 in the aggregate, or the period of time
reasonably projected by Landlord for restoration of the damage (taking into account the time necessary to effectuate a satisfactory settlement with any insurance company involved) exceeds one-fourth (1/4) of the time remaining in the Term as of
the date of the damage, then Landlord and Tenant shall each have the right to terminate this Lease by written notice delivered to the other party within fifteen (15) days after Landlord notifies Tenant in writing of the estimated cost and
projected restoration period; provided, however, that if (i) Landlord exercises its right of termination under this Section 14.4, and (ii) at such time, Tenant has a right to renew or extend the Lease Term pursuant to any provision
hereof that Tenant has not yet exercised, and (iii) Tenant notifies Landlord in writing, within fifteen (15) days following the delivery of a termination notice from Landlord under this Section 14.4 that Tenant is exercising such
renewal option, then Landlord’s termination notice shall be deemed nullified and this Lease shall continue in full force and effect through the remainder of the Lease Term (as thus renewed). 

14.5 Repairs. Landlord’s repair obligations, if any, shall be limited to restoration of improvements which are covered by the
insurance policies required to be maintained by Landlord hereunder. Tenant acknowledges that any such repairs or restorations shall be subject to applicable laws and governmental requirements, the requirements of Landlord’s mortgagee (if any),
and to reasonable delays in the process of adjusting any insurance claim associated therewith. 
 15. MACHINES AND EQUIPMENT; ALTERATIONS AND ADDITIONS:
REMOVAL OF FIXTURES. 
 15.1 Floor Load, and Excessive Noise, Vibration, and Electrical Usage. Tenant shall not, without
Landlord’s prior written consent, place a load upon the floor of the Premises which exceeds the maximum live load per square foot which the Building was designed to accommodate, as reasonably determined by Landlord. Business machines,
mechanical equipment and materials belonging to Tenant which cause vibration, noise, cold, heat or fumes that may be 

  
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transmitted to the Building or to any other leased space therein to such a degree as to be objectionable to Landlord or to any other tenant in the Building shall be placed, maintained, isolated,
stored and/or vented by Tenant (at its expense) so as to absorb and prevent such vibration, noise, cold, heat or fumes. Landlord shall not be required to supply electrical service for equipment that consumes extraordinarily large amounts of
electricity, and Tenant will not install or operate in the Premises any electrical or other equipment whose electrical energy consumption exceeds that of normal office use, without first obtaining the prior consent in writing of Landlord, who may
condition such consent upon the payment by Tenant of additional rent to compensate (at cost) for excess consumption of water, increases to the capacity of Building Systems, and other similar requirements, but which consent will not otherwise be
unreasonably withheld, conditioned or delayed. 
 15.2 Alterations. All other alterations, additions and improvements proposed to be
made to the Premises by Tenant (hereinafter, “Alterations”) shall be subject to Landlord’s prior written approval, which consent may not be unreasonably withheld, conditioned or delayed. To the extent Landlord approves an Alteration,
the following provisions shall apply: Such Alterations shall be made (1) at Tenant’s sole expense, (2) according to plans and specifications approved in writing by Landlord (3) in compliance with all applicable laws, codes and
legal requirements, including the requirements of the Americans with Disabilities Act (“ADA”), (4) by a licensed contractor reasonably approved by Landlord, which contractor carries insurance in amounts and types reasonably approved
by Landlord (and naming Landlord as an additional insured), (5) on a lien-free basis, and (6) in a good and workmanlike manner conforming in quality and design with the Premises existing as of the Commencement Date. In the performance of
Alterations in accordance with this Lease, Tenant shall cause its contractor to use reasonable and diligent efforts not to interfere with ongoing operations in the Building, to keep all construction areas clean and free of trash and debris and
otherwise to comply with any other reasonable rules and regulations established by Landlord with regard to construction activities within the Building. All Alterations (including without limitation cosmetic alterations) made by Tenant shall at once
become a part of the realty and shall be surrendered with the Premises. 
 16. ACCESS. 

16.1 Generally. Subject to the requirements and restrictions set forth herein, Tenant shall permit Landlord and the authorized
representatives of Landlord and of any mortgagee or any prospective mortgagee to enter the Premises at all reasonable times for the purpose of (i) inspecting the Premises, (ii) making any necessary repairs to the Premises or to the
Building, and (iii) and, during the last nine (9) months of the Term, to enter upon and to exhibit the Premises to any prospective tenant. In exercising any and all rights of entry under this Section 16, (1) Landlord shall use
all reasonable and diligent efforts to minimize any disruption to Tenant’s business, and (2) Landlord shall coordinate any entry into the Premises with Tenant’s facilities supervisor at least one (1) business day in advance
(except in cases of Emergency) or as necessary to respond to an Abatement Event), and shall be accompanied by a representative of Tenant for security purposes upon Landlord’s entry to the Premises (other than in cases of Emergency) unless
Tenant fails or declines to make available a representative for such purposes. Tenant shall supply Landlord with telephone numbers for Tenant’s facilities supervisor so that Landlord will be able to comply with established security procedures
to the extent feasible under the circumstances in the event Landlord requires immediate access to the Premises to cure any Emergency situation. 

  
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 17. MUTUAL WAIVER OF CLAIMS AND SUBROGATION. 

17.1 Tenant. Notwithstanding anything to the contrary in this Lease, whether the loss or damage is due to the negligence of Landlord or
Landlord’s agents or employees, or any other cause, Tenant hereby releases Landlord and Landlord’s agents and employees from responsibility for and waives its entire claim of recovery for (i) any and all loss or damage to the personal
property of Tenant located in the Building, including, without limitation, the Building itself and such property as may be attached to the Building itself, arising out of any of the perils which are covered by Tenant’s property insurance
policy, with extended coverage endorsements which Tenant is required to obtain under this Lease, whether or not actually obtained, or (ii) loss resulting from business interruption or loss of rental income, at the Premises, arising out of any
of the perils which may be covered by the business interruption or by the loss of rental income insurance policy held by Tenant. 
 17.2
Landlord. Notwithstanding anything to the contrary in this Lease, whether the loss or damage is due to the negligence of Tenant or Tenant’s agents or employees, or any other cause, Landlord hereby releases Tenant and Tenant’s agents
and employees from responsibility for and waives its entire claim of recovery for (i) any and all loss or damage to the personal property of Landlord located in the Building, including, without limitation, the Building itself and such property
as may be attached to the Building itself, arising out of any of the perils which are covered by Landlord’s property insurance policy which Landlord is required to obtain under this Lease, whether or not actually obtained, or (ii) loss
resulting from loss of rental income, arising out of any of the perils which may be covered by any loss of rental income insurance policy held by Landlord. 

17.3 Carriers. Landlord and Tenant shall each cause its respective insurance carrier(s) to consent to such waiver of all rights of
subrogation against the other, and to issue an endorsement to all policies of insurance obtained by such party confirming that the foregoing release and waiver will not invalidate such policies. 

18. INDEMNIFICATION. 
 18.1
Tenant’s Indemnity. Subject to Section 17.2, above, Tenant shall indemnify and hold harmless Landlord, and each of its shareholders, subsidiaries, affiliates, officers, directors, partners, contractors, subcontractors, employees,
agents and trustees, and any receiver, trustee or other fiduciary appointed for the Building, from and against any and all third party liabilities, judgments, demands, causes of action, claims, losses, damages, costs and expenses, including
reasonable attorneys’ fees and costs, asserted against Landlord by third parties or sustained in connection with any third party claims for injury or death to persons or damage to property against Landlord, by third parties and arising out of
the use, occupancy, conduct, or operation of the Premises by, or (whether or not within the Premises), the willful misconduct or negligence of, Tenant, its officers, contractors, licensees, agents, servants, employees, or (while within the Premises)
its guests or invitees, or caused by any failure of Tenant to comply with the terms of this Lease. This indemnification shall survive termination of this Lease. This provision shall not be construed to make Tenant responsible for loss, damage,
liability or expense resulting from injuries or death to third parties or to the property of third parties to the extent caused by the negligence or willful misconduct of Landlord, or its officers, contractors, licensees, agents, employees or
invitees. 
 18.2 Landlord’s Indemnity. Subject to Section 17.1, above, Landlord shall indemnify and hold harmless Tenant,
its agents, employees, officers, directors, partners and shareholders from and against any and all third party liabilities, judgments, demands, causes of action, claims, losses, damages, costs and expenses, including reasonable attorneys’ fees
and costs, asserted against Tenant by third parties or sustained by Tenant in connection with any third party claims for injury or death to persons or damage to property, and arising out of the use, occupancy, conduct, operation, or management of
the Common Areas by, or the willful misconduct or negligence of, Landlord, its officers, contractors, licensees, agents, servants, or employees, or caused 

  
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by any failure of Landlord to comply with the terms of this Lease. This indemnification shall survive termination of this Lease. This provision shall not be construed to make Landlord responsible
for loss, damage, liability or expense resulting from injuries or death to third parties or to the property of third parties to the extent caused by the negligence or willful misconduct of Tenant, or its officers, contractors, licensees, agents,
employees or invitees, or by the acts or omission of any other tenants or occupants of the Building. 
 19. ASSIGNMENT AND SUBLETTING. 

19.1 Tenant shall not assign this Lease and shall not let or sublet the whole or any portion of the Premises without the written consent of
Landlord, which consent shall not be unreasonably withheld, conditioned, or delayed. For the purpose of this Lease, any sale or transfer of Tenant’s capital stock, redemption or issuance of additional stock of any class shall not be deemed an
assignment, subletting or any other transfer of this Lease or the Premises. 
 19.2 Notwithstanding Section 19.1 to the contrary,
Tenant may, without Landlord’s consent, sublet all or any portion of the Premises or assign this Lease, to any one or more of the following (each, a “Permitted Transfer”): (a) a parent, subsidiary, affiliate, division or
other entity controlling, controlled by or under common control with Tenant; (b) a successor entity related to Tenant by merger, consolidation, reorganization or government action; and/or (c) any successor entity that acquires all or
substantially all of the assets of Tenant, or a controlling interest in the stock of Tenant. 
 19.3 After any assignment or sublease,
(i) an assignee shall be bound by, and subject to, all terms, covenants and conditions set forth herein, (ii) a sublessee shall be bound by, and subject to, all terms, covenants and conditions set forth herein to the extent applicable to
the subleased premises, and (iii) Tenant shall remain fully liable for the financial performance of all of the obligations of “Tenant” under this Lease. Landlord shall not be entitled to any consideration in connection with any
assignment or sublet. If Landlord’s consent is required for an assignment or sublease, then Landlord’s consent shall be deemed to have been given unless Landlord notifies Tenant in writing of the reasons for Landlord’s disapproval
within fourteen (14) days of receipt of the request for approval accompanied by reasonable information concerning the proposed assignment or sublease. 

19.4 After an assignment of the Lease, Tenant shall be secondarily liable only for performance of monetary covenants under this Lease
following any assignment or sublease of the entire Premises, except that, in the case of a Permitted Transfer described in Section 19.2, and or a sublease of less than the entire Premises, Tenant (or the surviving entity in any merger to which
Tenant is a party, if applicable) shall remain primarily liable for all covenants under this Lease; provided further, however, that Tenant’s obligations may not be enlarged or extended by any act of any assignee or subtenant or agreement
between Landlord and such assignee or subtenant that is not expressly consented to by Tenant in writing. With respect to any default occurring under this Lease after any assignment of Tenant’s interest herein, the assignor shall have no
liability under this Lease until it has been provided with a written notice describing the default in reasonable detail and a period in which to cure such default. The assignor’s cure period shall not be less than the applicable period set
forth in the Lease, and shall commence (with respect to the assignor) on the date the assignor receives such default notice. 
 19.5 Except
for Permitted Transfers, as to which this Section 19.5 shall not apply, in the event of any assignment or sublease hereunder, Tenant shall pay to Landlord, as additional rent due under this Lease, fifty percent (50%) of all Net Profit
associated with such assignment or sublease. For purposes hereof, the term “Net Profit” shall (i) in the case of an assignment, equal the total sum received by Tenant in consideration of such assignment less the amount of

  
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“Transaction Expenses” (as hereafter defined) associated therewith, and (ii) in the case of a sublease, equal the amount, if any, by which the rent, any additional rent and any
other sums payable by the subtenant to Tenant under such sublease (subject, however, to the penultimate sentence of this Section 19.5), exceeds that portion of the Base Rent plus additional rent payable by Tenant hereunder with respect to the
portion of the Premises which is the subject of such sublease, calculated after Tenant has recovered in full its Transaction Expenses from such net amount. The term “Transaction Expenses” shall mean all reasonable and actual expenses
incurred by Tenant in procuring such assignment or sublease, including broker fees and legal fees (if any) paid by Tenant, any improvements which Tenant makes to the applicable portion of the Premises at Tenant’s expense in connection with such
assignment or sublease, any leasing concessions paid by Tenant as part of such transaction, any buy-out of the assignee’s or sublessee’s existing lease paid for by Tenant as a part of such transaction, and the cost of any downtime
reasonably allocable to the portion of the Premises being subleased. In calculating Net Profit in an assignment or sublease transaction where a portion of the consideration being paid to Tenant is being paid other than in respect of the
leasehold interest being conveyed as part of such assignment or sublease (for example, being paid for furniture or equipment being obtained as part of such transaction, or for services being provided by Tenant on an ongoing basis to a subtenant,
such as telephone services, photocopying services, secretarial services and the like), the parties shall disregard such other consideration to the extent such other consideration bears a reasonable relationship to the cost incurred by Tenant to
provide such other items and is not intended to be disguised subrents or assignment fees. The foregoing payments shall be made within ten (10) business days after Tenant receives the applicable consideration from the assignee or subtenant. 

20. ADVERTISING. 
 20.1 Tenant shall be
permitted (at Tenant’s expense, and subject to Landlord’s reasonable consent) to install a standard suite entry sign, and (if applicable) directory identification panels on that portion of the Building’s lobby directory located in the
main lobby of the Building (if any), commensurate with the relative square footage of the Premises as compared to the square footage of the Building as a whole, and such other signs or other advertising materials in, on or about the Premises as are
permitted by law; provided that Tenant obtains Landlord’s consent (a) as to the method of attaching signs that will be permanently attached to the exterior of the Building; and (b) for the location of the exterior signage and design
of the monument panels. Landlord shall not unreasonably withhold, condition or delay such consent. To the extent Landlord’s consent is required, Tenant shall submit plans and specifications for its signage to Landlord for approval prior to
submitting the plans and specifications to the local authorities for permitting (if applicable). Landlord shall be deemed to have consented to such proposed Exterior Signage and awnings unless Landlord notifies Tenant in writing of its specific
objections within ten (10) days of receiving such proposal. All exterior signage shall be in compliance with all applicable laws, regulations and rules. Notwithstanding anything contained herein to the contrary, Landlord hereby consents to, and
Tenant shall be permitted to install, Tenant’s then-current trademarked name(s), colors, letters, font and logo. Notwithstanding anything contained herein to the contrary, Tenant shall not be required to obtain Landlord’s consent for any
promotional or advertising signs or displays within the interior of the Premises. Landlord shall not allow any signage other than Tenant’s to be erected on the exterior walls of the Premises or on the roof above the Premises. 

  
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 21. DEFAULT. 

21.1 Default. The occurrence of any of the following shall constitute a “Default” under this Lease: 

21.1.1 If Tenant fails or breaches its obligation to pay Rent on the date such payment is due, and such failure or breach continues for five
(5) Business Days after the date Landlord provides to Tenant a written notice of nonpayment thereof. 
 21.1.2 Except as provided in
Sections 21.1.3 and Section 21.1.4, below (as to which the notice and cure rights set forth herein shall be inapplicable), if Tenant breaches or fails to perform any term, covenant or condition of this Lease (except those relating to the
payment of Rent, which shall be governed by Section 21.1.1, above), and such breach or failure continues for fifteen (15) days after written notice from Landlord identifying the breach or failure with reasonable specificity; provided,
however, that where such breach or failure is curable, but cannot reasonably be cured within the aforesaid fifteen (15) day period, it shall not constitute a Default if Tenant commences to cure such breach or perform such obligation (as the
case may be) promptly after its receipt of such written notice from Landlord (and in all events within the referenced fifteen (15) day period, and diligently thereafter prosecutes such cure or performance to completion (provided that any
extension of the cure period under this sentence shall not exceed a maximum of ninety (90) days in the aggregate). 
 21.1.3 If Tenant
or any guarantor of this Lease shall (i) make an Transfer for the benefit of creditors, (ii) acquiesce in a petition in any court in any bankruptcy, reorganization, composition, extension or insolvency proceedings, (iii) seek, consent
to or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or of any guarantor of this Lease and of all or any part of Tenant’s or such guarantor’s property, (iv) file a petition seeking an order for relief
under the Title 11 of the United States Code, as now or hereafter amended or supplemented (the “Bankruptcy Code”), or by filing any petition under any other present or future federal, state or other statute or law for the same or similar
relief, or (v) fail to win the dismissal, discontinuation or vacating of any involuntary bankruptcy proceeding filed under the Bankruptcy Code, or under any other present or future federal, state or other statute or law for the same or similar
relief, within sixty (60) days after such proceeding is initiated. 
 21.1.4 If any other event, breach or failure to perform an
obligation of the Tenant under this Lease shall occur which, under the applicable provision of this Lease, is deemed to constitute a “Default” either without further notice or opportunity to cure, or upon notice and expiration of a cure
period that is different than that set forth in Section 21.1.2, above. 
 21.2 Remedies. Upon a Default, Landlord shall have the
following remedies, in addition to all other rights and remedies provided by law or otherwise provided in this Lease, any one or more of which Landlord may resort to cumulatively, consecutively, or in the alternative: 

21.2.1 Landlord may continue this Lease in full force and effect, and this Lease shall continue in full force and effect as long as Landlord
does not terminate this Lease, and, in such event, Landlord shall have the right to collect Rent when due. 
 21.2.2 Landlord may terminate
this Lease, or may terminate Tenant’s right to possession of the Premises, at any time thereafter upon written notice to Tenant to such effect, in which event (i) such termination shall be immediately effective, but Tenant shall be granted
a period of five (5) business days to surrender possession of the Premises in accordance with this Lease, and (ii) Landlord may (but shall not be obligated to) relet the Premises or any part thereof. Upon the giving of a notice of the
termination of this Lease, this Lease (and all of Tenant’s rights hereunder) shall immediately terminate, subject to the remaining provisions of this Section 21 concerning the survival of certain obligations of Tenant hereunder. Upon the
giving of a notice of the termination of Tenant’s right of possession, but not of this Lease, all of Tenant’s rights in and to possession of the Premises shall terminate but this Lease shall continue subject to the effect of this
Section 21. Any termination of this Lease or of Tenant’s right to possession under this Section 21 shall not release Tenant from the payment of any sum then due Landlord or from

  
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any claim for damages or Rent provided for herein, whether accruing prior to or after the date of such termination, all of which shall expressly survive such termination. Immediately upon either
such termination, Tenant shall surrender and vacate the Premises in the condition required by Section 23, and Landlord may thereupon re-enter and take possession of the Premises and all the remaining improvements or property and eject Tenant or
any of the Tenant’s subtenants, assignees or other person or persons claiming any right under or through Tenant or eject some and not others or eject none. This Lease may also be terminated by a judgment specifically providing for termination.
No act by Landlord other than giving written notice to Tenant shall terminate this Lease. 
 21.2.3 Upon any termination or of Tenant’s
right of possession, Tenant shall immediately become liable to Landlord for all costs Landlord incurs in attempting to relet the Premises or any part thereof, including, without limitation, broker’s commissions, expenses of cleaning and
redecorating the Premises required by the reletting and like costs, provided that nothing set forth in this Section 21.1.3 shall be construed to impose upon Landlord any obligation to relet the Premises or to mitigate its damages
hereunder, except to the extent expressly required under applicable law. If Landlord does elect to relet the Premises (or any portion thereof), such reletting may be for a period shorter or longer than the remaining Lease Term, and upon such terms
and conditions as Landlord deems appropriate, in its sole and absolute discretion, and Tenant shall have no interest in any sums collected by Landlord in connection with such reletting except to the extent expressly set forth herein. Upon any
termination or of Tenant’s right of possession, Tenant shall immediately become liable to Landlord for all costs Landlord incurs in attempting to relet the Premises or any part thereof, including, without limitation, broker’s commissions,
expenses of cleaning and redecorating the Premises required by the reletting and like costs. In the event of termination of this Lease or repossession of the Premises after a Default, and provided Tenant has cooperated with Landlord in surrendering
possession of the Premises as required herein after such termination or repossession, Landlord agrees to use commercially reasonable efforts to mitigate its damages hereunder, provided that (i) Landlord shall not be obligated to show preference
for reletting the Premises over any other vacant space in the Building; (ii) Landlord shall have the right to divide the Premises, or to consolidate portions of the Premises with other spaces, in order to facilitate such reletting, as Landlord
deems appropriate, (iii) Landlord shall not have any obligation to use efforts other than commercially reasonable efforts under the circumstances to collect rental after any such reletting, (iv) Landlord may relet the whole or any portion
of the Premises for any period, to any tenant, and for any use and purpose, and upon such terms as it deems appropriate, and may grant any rental or other lease concessions as it reasonably deems advisable under prevailing market conditions,
including free rent; and (v) the entry into a listing agreement for the space with a licensed real estate broker, and the good faith review of any leasing proposals received in relation to the Premises, shall be deemed to constitute
commercially reasonable efforts to relet the Premises for all purposes of this Lease. 
 21.2.4 Upon any termination of this Lease after a
Default, and in addition to any other rights to monetary compensation provided for in this Lease or under applicable law, Landlord shall have the right to recover from Tenant as damages: 

(a) Rent Damages. In respect of Rent due under this Lease, Landlord may recover “Indemnity Payments,” as defined below, from
Tenant. The term “Indemnity Payments” shall mean an amount equal to the Rent provided for in this Lease which would have become due and owing thereunder from time to time during the unexpired Lease Term after the effective date of the
termination, but for such termination, less the Rent, if any, actually collected by Landlord for such period and properly allocable to the Premises. If Landlord elects to pursue Indemnity Payments, Tenant shall, on demand, make Indemnity Payments
monthly, and Landlord may sue for all Indemnity Payments at any time after they accrue, either monthly, or at less 

  
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frequent intervals. Tenant further agrees that Landlord may bring suit for Indemnity Payments at or after the end of the Lease Term as originally contemplated under this Lease, and Tenant agrees
that, in such event, Landlord’s cause of action to recover the Indemnity Payments shall be deemed to have accrued on the last day of the Lease Term as originally contemplated. In seeking any new tenant for the Premises, Landlord shall be
entitled to grant any concessions it deems reasonably necessary. In no event shall Tenant be entitled to any excess of any rental obtained by reletting over and above the rental herein reserved. Tenant waives redemption or relief from forfeiture
under any other present or future law, in the event Tenant is evicted or Landlord takes possession of the Premises by reason of any default of Tenant hereunder. 

(b) Additional Damages. In addition to Rent damages as described in Section 21.2.4(a), above, Landlord shall also have the right
to recover from Tenant any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform Tenant’s obligations under this Lease, or which, in the ordinary course of things, would be
likely to result therefrom, including (1) any costs or expenses incurred by Landlord: (i) in retaking possession of the Premises; (ii) in maintaining, repairing, preserving, restoring, replacing, cleaning, altering or rehabilitating
the Premises or a portion thereof, including such acts for reletting to a new tenant or tenants; and/or (iii) for leasing commissions and other expenses of reletting; and (b) such other amounts in addition to or in lieu of the foregoing
(but without duplication of any of the foregoing) as may be permitted from time to time by the laws of the State in which the Premises are located; provided that to the extent any costs of reletting the Premises under any provision of this Section
are incurred in connection with a lease transaction having a term in excess of the remaining Term of this Lease (excluding Renewal Terms not exercised by Tenant), all of the recoverable costs incurred in connection therewith shall be amortized on a
straight-line basis over the term of such new lease, assuming equal monthly installments of principal and interest, at an interest rate equal to the Default Rate, and Tenant’s liability shall be limited to the amortized portion of the same
(i.e., the monthly payments as so determined) falling within the Term hereof, less any amounts required to be offset against the same hereunder.. 

21.2.5 In the case of a Default in any obligations of Tenant hereunder other than the obligation to pay Rent, Landlord may, but shall
not be obligated to, perform any such obligation of Tenant, and to recover from Tenant, as additional rent hereunder, the reasonable and actual costs incurred by Landlord in performing such obligation, which costs shall be payable within thirty
(30) days after Landlord’s written demand thereof accompanied by reasonable substantiation thereof. Notwithstanding the foregoing, or any other notice and cure period set forth herein, Landlord may exercise its rights under this
Section 21.2.6 without any prior notice or upon such shorter notice than otherwise required hereunder and as may be reasonable under the circumstances in the event of any one or more of the following circumstances is present: (i) there
exists a reasonable risk of prosecution of Landlord unless such obligation is performed sooner than the stated cure period, (ii) there exists an imminent possibility of danger to the health or safety of the Landlord, the Tenant, Tenant’s
invitees, or any other occupants of, or visitors to, the Building, unless such obligation is performed sooner than the stated cure period, and/or (iii) the Tenant has failed to obtain insurance required by this Lease, or such insurance has been
canceled by the insurer without being timely replaced by Tenant, as required herein. All sums paid by Landlord and all penalties, interest and costs in connection therewith, shall be due and payable by Tenant together with interest thereon at the
Default Rate, which shall be calculated from the date incurred by Landlord until the date of payment, and shall constitute additional rent under this Lease. 

21.3 Waivers. Tenant, on its own behalf and on behalf of all persons claiming through or under Tenant, including all creditors, does
hereby specifically waive and surrender any and all rights and privileges, so far as is permitted by law, which Tenant and all such persons might 

  
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otherwise have under any present or future law (1) to the service of any notice to quit or of Landlord’s intention to re-enter or to institute legal proceedings, which notice may
otherwise be required to be given, except the foregoing shall not waive any notices required under Section 21.1, above (if any); (2) to redeem re-enter or repossess the Premises after Tenant’s right of possession has been terminated
by Landlord; (3) to restore the operation of this Lease, with respect to any dispossession of Tenant by judgment or warrant of any court or judge, or any re-entry by Landlord, or any expiration or termination of this Lease, whether such
dispossession, re-entry, expiration or termination shall be by operation of law or pursuant to the provisions of this Lease, or (4) to the benefit of any law which exempts property from liability for debt or for distress for rent. 

22. SUBORDINATION. 
 22.1 Subject to
Section 22.2, below, this Lease (and the provisions hereof) and any extensions, renewals, replacements or modifications thereof are and shall at all times be subject and subordinate to the lien and provisions of (i) any ground lease or
underlying lease now or hereafter in force against the Premises, and (ii) any mortgage, deed of trust and all other security documents now or hereafter securing payment of any indebtedness of Landlord with respect to the Premises, and to all
advances made or hereafter to be made upon the security thereof and to any increases, renewals, modifications, substitutions, replacements, consolidations, restatements and extensions thereof, and/or amendments thereto. Although the foregoing
subordination is self-effectuating, Tenant shall execute and return to Landlord any documentation requested by Landlord consistent with this Section 22 in order to confirm the foregoing subordination, within five (5) business days after
Landlord’s written request. In the event (i) any proceedings are brought for foreclosure, (ii) the exercise of the power of sale under any mortgage or deed of trust encumbering the Premises, or (iii) of a termination of the
lessee’s interest in any ground lease or underlying lease (or the reversion of such lessee’s interest) to the lessor thereunder, Tenant shall attorn to the purchaser at any such foreclosure, or to the grantee of a deed in lieu of
foreclosure, or to lessor (or other party taking such reversionary interest) under such ground lease or underlying lease, and recognize such purchaser, grantee or lessor (as the case may be) (hereinafter referred to as a “Successor
Landlord”) as the Landlord under this Lease, provided such Successor Landlord assumes, either expressly or by operation of law, the obligations of “Landlord” arising under this Lease after the date title to the Land and Building is
transferred to such purchaser or grantee. Tenant agrees that no Successor Landlord shall be (i) bound by any payment of Rent for more than one (1) month in advance, (ii) bound by any amendment or modification of this Lease made
without the consent of such Successor Landlord, (iii) liable for damages for any breach, act or omission of any prior landlord, (iv) bound to effect or pay for any construction for Tenant’s occupancy, (v) subject to any claim of
offset or defenses that Tenant may have against any prior landlord and which have accrued prior to the date that such Successor Landlord takes legal title to the Land and the Building, or (vi) liable for the return of any security deposit,
unless such security deposit has been physically received by such Successor Landlord. Any such Successor Landlord shall have the right, at any time, to subordinate to this Lease any instrument to which this Lease is otherwise subordinated by
operation of this Section 22. 
 22.2 Notwithstanding the foregoing, the subordination of this Lease to any mortgage shall be
conditioned upon the delivery to Tenant of a “Subordination, Non-Disturbance and Attornment Agreement” (“SNDA”) from the current mortgagee, and from any future mortgagee, of the Property on such form as may be
required by such mortgagee, and which provides, inter alia, that so long as Tenant is not in default hereunder (beyond any applicable notice and cure period) and attorns to such mortgagee or any successor-in-title thereto in the event of a
foreclosure or deed-in-lieu of foreclosure, Tenant’s rights under this Lease, including its right of possession of the Premises, shall not be disturbed. 

  
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 23. SURRENDER OF POSSESSION. 

Upon expiration of the Lease Term, and without requirement of any notice to quit or other notice to surrender possession, Tenant shall
promptly and peacefully surrender the Premises to Landlord, broom clean and free of all of its furniture, movable fixtures and equipment and otherwise in as good condition as when received by Tenant from Landlord or as thereafter improved,
reasonable use and wear and tear and damage by insured casualty excepted, all to the reasonable satisfaction of Landlord. All items of Tenant’s movable property, trade fixtures and personal property that are not removed from the Premises or the
Building by Tenant at the termination of this Lease (or at any time when Landlord has the right of reentry due to a Tenant default) shall be deemed abandoned and become the exclusive property of Landlord, without further notice to or demand upon
Tenant. Tenant’s obligations under this Section 23 shall survive the expiration or termination of this Lease. 
 24. NON-WAIVER. 

Waiver by Landlord of any breach of any term, covenant or condition herein contained shall not be deemed to be a waiver of such term,
covenant, or condition(s), or any subsequent breach of the same or any other term, covenant or condition of this Lease, other than the failure of Tenant to pay the particular rental so accepted, regardless of Landlord’s knowledge of such
preceding breach at the time of acceptance of such Rent. In addition, and without limitation, Landlord’s acceptance of interest or late charges hereunder shall not constitute a waiver of Tenant’s default with respect to any overdue amount
nor estop Landlord from exercising any of the other rights and remedies granted hereunder arising out of Tenant’s non-payment. 
 25. HOLDOVER.

 If Tenant shall hold over after the expiration of the Lease Term (hereinafter, an “unauthorized holdover”), Tenant shall be
deemed to be a tenant at sufferance, which tenancy may be terminated immediately by Landlord as provided by applicable state law. During any such holdover tenancy, and in addition to (and not in lieu of ) any other damages that might be recoverable
by Landlord under this Lease, Tenant shall pay to Landlord a per diem occupancy charge equal to one hundred twenty-five percent (125%) of (i) the stated monthly Base Rent for the last full month of the Lease Term then ending,
calculated on a per diem basis, and (ii) the actual amount of additional rent which had otherwise been payable by Tenant for the last full month of the Lease Term then ending, calculated on a per diem basis. Such payments shall be
made within five (5) days after Landlord’s demand. In the case of a holdover which has been consented to by Landlord, Tenant shall be deemed to be a month to month tenant upon all of the terms and provisions of this Lease, except the
monthly Base Rent shall be as agreed by Landlord and Tenant with respect to such consented holdover. 
 26. CONDEMNATION. 

26.1 Definitions. The terms “eminent domain,” “condemnation,” “taking,” and “taken,” and other
similar terms used in this Section 26 shall mean and refer to the acquisition or taking of property (or any right, title or interest therein) by any governmental or quasi-governmental authority acting under power of condemnation or eminent
domain, for public or quasi-public use, and shall include sales under threat of condemnation, private purchases in lieu of condemnation by any authority authorized to exercise the power of eminent domain, and contested as well as uncontested takings
(as long as initiated by the applicable governmental or quasi-governmental authority). Any temporary taking for a period in excess of twelve (12) consecutive months shall be deemed to be a permanent taking within the meaning of this
Section 26. 

  
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 26.2 Taking. If the whole of the Premises is temporarily taken for a period in excess of
sixty (60) days, or is permanently taken, in either case by virtue of a Taking, this Lease shall automatically terminate as of the date (the “Vesting Date”) that title vests in the condemning authority, and Tenant shall pay all Rent
due under this Lease up to the Vesting Date. If twenty percent (20%) or more of the Premises is permanently taken by virtue of a Taking, then Landlord and Tenant shall each have the right (to be exercised by written notice to the other within
sixty (60) days after receipt of notice of said taking) to terminate this Lease effective upon the Vesting Date. If neither party elects to terminate this Lease, as aforesaid, then Landlord shall diligently, and within a reasonable time, after
the Vesting Date, repair and restore, at Landlord’s expense, the portion not taken so as to render same into an architectural whole to the extent reasonably practicable, and, if any portion of the Premises is taken, then after the Vesting Date,
the Base Rent (and Tenant’s Share) shall be reduced (on a per square foot basis) in proportion to the portion of the Premises so taken. If there is a temporary Taking involving the Premises or Building, or if less than twenty percent
(20%) of the Premises is permanently taken by a Taking, then this Lease shall not terminate, and Landlord shall, as soon as reasonably practicable thereafter, repair and restore, at its own expense, the portion not taken so as to render same
into an architectural whole to the fullest extent reasonably practicable. If any portion of the Premises was temporarily taken, then the Base Rent (and Tenant’s Share) shall be reduced (on a per square foot basis) in proportion to the portion
of the Premises taken, but only for the period of such temporary taking, that is, from the date upon which Tenant is deprived of the use of such portion of the Premises until the date Tenant is restored to the use of such portion of the Premises.

 26.3 Award. Landlord reserves all rights to damages to the Premises or the Building, or arising out of the loss of any leasehold
interest in the Building or the Premises created hereby, arising in connection with any partial or entire taking by eminent domain or condemnation. Tenant hereby assigns to Landlord any right Tenant may have to such damages or award, and Tenant
shall make no claim against Landlord or the condemning authority for damages for termination of Tenant’s leasehold interest as a result of such taking, provided Tenant may make a claim for moving expenses, interference with business and other
similar direct damages, either in a separate action, or in the same action as Landlord (if only a single action is permitted by law). 
 27. NOTICES.

 All notices and demands which may be required or permitted to be given to either party hereunder shall be in writing, and shall be
delivered personally or sent by United States certified mail, postage prepaid, return receipt requested, or by Federal Express or other reputable overnight carrier, to the addresses set out in Section 1.7, and to such other person or place as
each party may from time to time designate in a notice to the other. Notice shall be deemed given upon the earlier of actual receipt or refusal of delivery. 

28. [INTENTIONALLY DELETED] 
 29. COSTS AND ATTORNEYS’
FEES. 
 In any litigation or arbitration between the parties arising out of this Lease, the non-prevailing party shall pay to the
prevailing party all reasonable expenses, arbitration, and/or court costs, including attorneys’ fees incurred by the prevailing party, in preparation for and (if applicable) during any such arbitration, at trial, and/or on appeal. Such
attorneys’ fees and costs shall be payable upon demand. 

  
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 30. BROKERS. 

Tenant represents and warrants to Landlord that neither it nor its officers or agents, nor anyone acting on its behalf, has dealt with any
real estate broker other than DTZ Americas, Inc. (“Broker”) in the negotiating or making of this Lease, and Tenant agrees to indemnify and hold Landlord, its agents, employees, partners, directors, shareholders and independent contractors
harmless from all liabilities, costs, demands, judgments, settlements, claims and losses, including reasonable attorney’s fees and costs, incurred by Landlord in conjunction with any such claim or claims of any broker or brokers other than
Broker claiming to have interested Tenant in the Building or the Premises or claiming to have caused Tenant to enter into this Lease. 
 31.
LANDLORD’S LIABILITY AND DEFAULT. 
 31.1 No Personal Liability. Anything in this Lease to the contrary notwithstanding,
neither Landlord, nor any partner, shareholder, member, officer or representative of Landlord, shall have any personal liability to Tenant or any other party under this Lease, and Tenant shall look solely to Landlord’s interest in the Premises
and Building, as the same may be encumbered from time to time, and not to any other or separate business or non-business assets of Landlord, or any partner, shareholder, member, officer or representative of Landlord, for the satisfaction of any
claim brought by Tenant against Landlord; and if Landlord shall fail to perform any covenant, term or condition of this Lease upon Landlord’s part to be performed, and as a consequence of such default Tenant shall recover a money judgment
against Landlord, such judgment shall be satisfied only (i) out of the proceeds of sale received upon levy against the right, title and interest of Landlord in the Building, and/or (ii) to the extent not encumbered by a secured creditor,
out of the rents or other incomes receivable by Landlord from the property of which the Premises are a part. 
 31.2 Notice and Cure.
In no event shall Landlord be in default of this Lease unless Tenant notifies Landlord of the precise nature of the alleged breach by Landlord, and Landlord fails to cure such breach within fifteen (15) days after the date of Landlord’s
receipt of such notice (or such longer period as may be set forth herein); provided that (i) if the alleged breach is of such a nature that it cannot reasonably be cured within such fifteen (15) day period, then Landlord shall not be in
default if Landlord commences a cure within such fifteen (15) day period and diligently thereafter prosecutes such cure to completion, and (ii) in the event of an Emergency, such grace or cure period may be shortened as reasonably
necessary given the scope and nature of the Emergency, provided that such shortened grace or cure period shall only apply to permit the exercise of Tenant’s self-help rights under Section 31.4, below. 

31.3 Rights and Remedies - Generally. In the event of a default by Landlord after expiration of applicable cure periods, Tenant shall
be entitled to pursue all rights and remedies available at law or in equity except as limited by this Lease, and in all events excluding consequential damages. In no event shall Tenant have any right to terminate this Lease by virtue of any uncured
default by Landlord, except under circumstances which amount to a constructive eviction under applicable principles of the law of the state within which the Premises is located (and with respect to which Tenant satisfies the requirements for a
constructive eviction claim under applicable law). Tenant shall use commercially reasonable efforts to mitigate its damages in the event of any default by Landlord hereunder. 

32. ESTOPPEL CERTIFICATES. 
 Tenant
shall, from time to time, within ten (10) days of Landlord’s written request, execute, acknowledge and deliver to Landlord or its designee a written statement, certified to Landlord and any other party Landlord may designate (such as a
lender or prospective purchaser), in substantially the form of Exhibit D attached hereto and made a part hereof. If Tenant fails to 

  
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respond within ten (10) days after receipt by Tenant of a written request by Landlord as herein provided, Tenant shall be deemed to have given such certificate as above provided without
modification and shall be deemed to have admitted the accuracy of any information supplied by Landlord to a prospective purchaser or mortgagee. 
 33.
FINANCIAL STATEMENTS. Deleted. 
 34. TRANSFER OF LANDLORD’S INTEREST. 

In the event of any transfer(s) of Landlord’s interest in the Premises or the Building, other than a transfer for security purposes only,
the transferor shall be automatically relieved of any and all obligations and liabilities on the part of Landlord accruing from and after the date of such transfer, to the extent such obligations are assumed by the transferee either expressly or by
operation of law, and Tenant agrees to attorn to the transferee as Landlord hereunder. 
 35. EXTENSION OPTIONS. 

35.1 Generally. Tenant is hereby granted two (2) extension options (the “Extension Options”) to extend the Term for
sixty (60) months each, provided that both at the time of the exercise of each Extension Option and at the time of commencement of each Extension Term, (i) this Lease is in full force and effect, and (ii) no uncured default of Tenant
exists under this Lease as to which a notice of default has been sent to Tenant. The first Extension Term shall commence at the expiration of the initial Term and each subsequent Extension Term (if any) shall commence at the expiration of the
immediately prior Extension Term. Tenant shall exercise the Extension Option by delivering notice of such election (the “Extension Notice”) to Landlord not less than six (6) months or more than twelve (12) months prior to the
expiration of the initial Term or Extension Term then ending. If Landlord does not receive the Extension Notice prior to the expiration of such time period (time being of the essence), then such Extension Option shall become null and void and of no
further force or effect. 
 35.2 Terms. If Tenant exercises its Extension Option in accordance with this Section 35,
Tenant’s lease of the Premises during the Extension Term shall be upon the same terms and conditions of this Lease except that (a) the Base Rent during the Extension Term shall be as agreed upon by Landlord and Tenant or, if Landlord and
Tenant are unable to reach agreement within the twenty (20) day period following Landlord’s receipt of the Extension Notice (the “Extension Rent Negotiation Period”) during which Landlord and Tenant agree to negotiate the
Base Rent payable for the Extension Term in good faith), then the Base Rent for the Extension Term shall be an annual base rental rate equal the annual fair market rental rate and annual escalation rate (collectively, “FMR”) for
lease extensions of space in its “as-is” condition comparable to the Premises in the Hauppauge area for the Extension Term, as determined by the three appraiser method set forth in Section 35.3 of this Lease; and (b) Tenant shall
have no option to extend the Term beyond the expiration of the final Extension Term provided for above. The Premises shall be delivered in their then “as-is” condition at the time the Extension Term commences. 

35.3 Three Appraiser Method. 

A. Landlord and Tenant shall each appoint one arbitrator who, by profession, shall be an M.A.I. real estate appraiser, and who shall have been
active over the five (5) year period ending on the date of the Extension Notice in the appraisal of office properties in the Hauppauge area. Each such arbitrator shall be appointed within thirty (30) days after the expiration of the
Extension Rent Negotiation Period. 

  
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 B. The two arbitrators so appointed shall, within ten (10) days of the date of the
appointment of the last appointed arbitrator, agree upon and appoint a third arbitrator who shall be qualified based upon the same criteria set forth above for the qualification of the initial two arbitrators. 

C. The three arbitrators shall, within ten (10) days of the appointment of the third arbitrator, reach a decision regarding the FMR and
notify Landlord and Tenant thereof. 
 D. The decision of the majority of the three arbitrators shall be binding upon Landlord and Tenant.
Failure of a majority of said arbitrators to reach agreement shall result in the FMR being designated by averaging the appraisals of the three arbitrators, ignoring for the purposes of such averaging the high and/or low appraisal which is more than
ten percent (10%) in excess of or less than the middle appraisal. 
 E. If either Landlord or Tenant fails to appoint an arbitrator
within the time period specified above, the arbitrator appointed by one of them shall reach a decision and notify both parties thereof, and such arbitrator’s decision shall be binding upon Landlord and Tenant. 

F. The cost of arbitration shall be paid by Landlord and Tenant equally. 

The term “comparable space” as used herein for the purpose of determining “market rates” shall mean mid-rise office buildings located in
the Hauppauge area. 
 36. SECURITY. 

Subject to Tenant’s rights with respect to Secured Areas, as set forth hereinabove, Tenant hereby agrees to the exercise by Landlord and
its agents and employees, within their sole discretion, of such security measures as Landlord reasonably deems necessary for the Building. Tenant, at Tenant’s sole cost and expense, and subject to Landlord’s prior written approval, which
shall not be unreasonably withheld, conditioned or delayed, may install a security system within the Premises for its own uses and purposes. Any such security system shall be installed in accordance with the provisions governing Alterations under
this Lease and shall be appropriately integrated with the base building security system. Nothing contained in this Section 36 shall be construed or deemed to obligate Landlord to provide any particular form or amount of security with respect to
the Premises or the Building or on behalf of Tenant or any other occupant of or visitor to the Premises or the Building. 
 37. AUTHORITY OF PARTIES.

 Landlord and Tenant each represent and warrant to the other that it has been duly authorized to execute and deliver this Lease, and that
this Lease is binding upon said party. 
 38. NO ACCORD OR SATISFACTION. 

No payment by Tenant or receipt by Landlord of a lesser amount than the Rent and other sums due hereunder shall be deemed to be other than on
account of the earliest rent or other sums due. In no event shall any endorsement or statement on any check or accompanying any check or payment be deemed an accord and satisfaction; and Landlord may accept such check or payment without prejudice to
Landlord’s right to recover the balance of such Rent or other sum and to pursue any other remedy provided in this Lease. 

  
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 39. [INTENTIONALLY DELETED]. 

40. PARKING. 
 Tenant shall have the
right to park in the Building parking facilities in common with other tenants of the Building upon such terms and conditions, and parking allocations, including the imposition of such reasonable parking charge, as may be established by Landlord from
time to time during the term of this Lease. Tenant agrees not to overburden the parking facilities and agrees to cooperate with Landlord and other tenants in use of the parking facilities. For purposes of determining whether Tenant is overburdening
the Building’s parking facilities, Tenant shall be deemed to have a parking allocation of 63 parking spaces. If, for any reason, the square footage of the Premises is increased or reduced during the Term, the foregoing parking allocation shall
be proportionately modified. Subject to such allocation, Landlord reserves the right in its sole (but reasonable) discretion, to determine whether the parking facilities are becoming overburdened. Landlord shall have the absolute right to allocate
and assign parking spaces among some or all of the tenants of the Building (and Tenant shall comply with any such parking assignments), provided Landlord shall only assign reserved parking spaces to other tenants or occupants only if Landlord, at
the same time, assigns a proportionate number of reserved parking spaces for Tenant’s benefit in a location that is substantially as convenient to the Building entrance and Premises entrance as the other reserved parking spaces granted by
Landlord for such other tenants or occupants. 
 41. RIGHT OF FIRST OFFER. 

Landlord hereby grants to Tenant a right of first offer (the “Right of First Offer”) on any space in the Building that becomes available for lease
(“Offered Space”). Landlord agrees to deliver to Tenant written notice informing Tenant that the Offered Space shall be available to Tenant at one hundred percent (100%) of FMR through the initial Term or Extension Term. Tenant and
Landlord will have a thirty (30) day period after written notice to reach agreement on FMR, after which the rent shall be determined using the arbitration process outlined in 35.3 above. This right is available for Tenant provided that both at
the time of the exercise of the Right of First Offer and the commencement of the Right of First Offer space, (i) this Lease is in full force and effect, and (ii) no uncured default of Tenant exists under this Lease as to which a notice of
default has been sent to Tenant. 
 42. TERMINATION OPTIONS. 

Tenant is hereby granted two (2) early termination options (the “Early Termination Options”) to terminate this Lease effective as of
December 31, 2017 or December 31, 2018 (each date is referred to as a “Termination Date”) by (i) providing a minimum of six (6) months prior written notice of its election to exercise such termination and
(ii) paying to Landlord on or before the Termination Date, a termination fee equal to unamortized tenant improvements and real estate commissions, in each case utilizing a seven percent (7%) amortization rate. Provided that Tenant gives
timely notice and pays such amounts and that both at the time of the exercise of the Early Termination Option and as of the Termination Date, (i) this Lease is in full force and effect, and (ii) no uncured default of Tenant exists under
this Lease as to which a notice of default has been sent to Tenant, this Lease shall terminate on the specified Termination Date. Tenant shall surrender the Premises on or before the Termination Date in the condition required by the Lease and
thereafter neither Landlord nor Tenant shall have any further rights or obligations under the Lease except for those which survive the termination of the Lease as stated therein. 

43. GENERAL PROVISIONS. 
 43.1
Acceptance. This Lease shall only become effective and binding upon full execution hereof by Landlord and Tenant, and delivery of a signed copy to Tenant. 

  
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 43.2 Joint Obligation. If there shall be more than person or entity which constitute the
“Tenant” hereunder, the obligations of Tenant hereunder shall be joint and several for all such persons and entities. 
 43.3
Marginal Headings, Etc. The marginal headings, Table of Contents, lease summary sheet and titles to the sections of this Lease are not a part of the Lease and shall have no effect upon the construction or interpretation of any part hereof.

 43.4 Choice of Law. This Lease shall be governed by and construed in accordance with the laws of the State in which the Premises
is located (without regard to the choice of law and/or conflict of law principles applicable in such State). 
 43.5 Successors and
Assigns. The covenants and conditions herein contained, subject to the provisions as to Transfer, inure to and bind the heirs, successors, executors, administrators and assigns of the parties hereto. 

43.6 Recordation. Except to the extent otherwise required by law, neither Landlord nor Tenant shall record this Lease, but a short-form
memorandum hereof may be recorded at the request of Landlord. 
 43.7 Quiet Possession. Upon Tenant’s paying the Rent reserved
hereunder and observing and performing all of Tenant’s other obligations hereunder, Tenant shall have quiet possession of the Premises for the Lease Term hereof, free from any disturbance or molestation by Landlord, or anyone claiming by,
through or under Landlord, but in all events subject to all the provisions of this Lease. 
 43.8 Inability to Perform; Force Majeure;
Tenant Delay. Notwithstanding any provision of this Lease to the contrary, this Lease and the obligations of the parties hereunder shall not be affected or impaired because the other party is unable to fulfill any of its obligations hereunder
(or is delayed in doing so) to the extent such inability or delay is caused by reason of war, civil unrest, strike, labor troubles, unusually inclement weather, governmental delays, delays in adjusting any insurance claim, delays in settling or
obtaining any condemnation award, delays in securing disbursement of insurance or condemnation proceeds from Landlord’s lender (or any trustee holding such proceeds on such lender’s behalf), inability to procure services or materials
despite reasonable efforts, third party delays, fire or other casualty, acts of God, or any other cause(s) beyond the reasonable control of such party (which causes are referred to collectively herein as “Force Majeure”), provided
(i) in no event shall any monetary obligations, including without limitation the Tenant’s obligation to pay Rent, be extended due to Force Majeure, and (ii) in no event shall financial inability constitute a cause beyond the
reasonable control of a party. Except as limited by clauses (i) and (ii), the time period for the performance of a non-monetary obligation shall be extended one (1) day for each day of delay suffered by such party as a result of the
occurrence of any Force Majeure. 
 43.9 Partial Invalidity. 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 such other provision(s) shall remain in full force and effect. 

43.10 Entire Agreement. This Lease contains the entire agreement of the parties hereto and supersedes all other agreements or
understandings between them, whether oral or otherwise, and all such other agreements are hereby merged herein. 

  
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 43.11 Survival. All indemnities set forth in this Lease shall survive the expiration or
earlier termination of this Lease. 
 43.12 Consents. If any action, inaction, activity or other right or obligation of Tenant is
subject under this Lease to the prior consent or approval of Landlord, such approval may be granted or denied in Landlord’s sole and absolute discretion, unless the provision in question states that Landlord’s consent or approval
“shall not be unreasonably withheld,” in which event Landlord’s consent or approval shall be subject to Landlord’s sole, but reasonable, discretion. 

43.13 Saving Clause. In the event (but solely to the extent) the limitations on Landlord’s liability set forth in this Lease would
be held to be unenforceable or void in the absence of a modification holding the Landlord liable to Tenant or to another person for injury, loss, damage or liability arising from Landlord’s omission, fault, negligence or other misconduct on or
about the Premises, or other areas of the Building appurtenant thereto or used in connection therewith and not under Tenant’s exclusive control, then such provision shall be deemed modified as and to the extent (but solely to the extent)
necessary to render such provision enforceable under applicable law. The foregoing shall not affect the application of Section 31.1 of this Lease to limit the assets available for execution of any claim against Landlord. 

43.14 Reservation. Nothing herein set forth shall be deemed or construed to restrict Landlord from making any modifications to, or to
reconfigure, any of the parking and/or common areas serving the Building and/or the Premises as of the date of execution hereof, and Landlord expressly reserves the right to make any modifications or reconfigurations to such areas as Landlord may
deem appropriate, including but not limited to, the addition or deletion of temporary and/or permanent improvements therein, and/or the conversion of areas now dedicated for the non-exclusive common use of tenants (including Tenant) to the exclusive
use of one (1) or more tenants or licensees within the Building. 
 43.15 Keys. All suite keys and security key
cards shall be obtained by Tenant from Landlord, and the reasonable cost of providing suite keys or security keys shall be reimbursed by Tenant to Landlord upon demand. 

43.16 Certain Terminology. For all purposes of this Lease: (A) the terms “including,” “includes” and terms of
like import shall be interpreted to mean “including, but not limited to” and/or “includes, without limitation.”; (B) the terms “herein”, “hereunder”, “hereinbelow”, “above” and/or
“below”, and any terms of like import, shall be interpreted to mean this Lease as a whole, and not merely the Section, paragraph or subparagraph within which such term is set forth; (C) where Tenant is agreeing to assume
responsibility for certain conduct, actions and/or omissions of “Tenant,” the term “Tenant” shall be construed to mean Tenant, and Tenant’s agents, employees, contractors, subcontractors, assignees, sublessees, licensees
and, while within the Premises, invitees and business visitors; and (D) the term “Emergency” shall mean and refer to any situation or circumstance where there is an immediate or imminent risk of injury or death to persons or damage to
property unless immediate action is taken to address such situation or circumstances, as determined by the party invoking such term in good faith. 

43.17 Further Assurances. Tenant agrees that it shall give such further assurances, execute and deliver such further instruments and
confirmatory documents, and do such further acts and things, as may be reasonably required to carry out the intent and purposes of this Lease. 
 44.
[INTENTIALLY DELETED]. 

  
 28 

 45. EXHIBITS. 

The following Exhibits are attached hereto and made a part of this Lease: 
  

					
	EXHIBIT A	  	Location and Dimensions of Premises	  	
	EXHIBIT B	  	Construction Exhibit	  	
	EXHIBIT C	  	Rules and Regulations	  	
	EXHIBIT D	  	Form Estoppel Certificate	  	

 [Signatures commence on the following page.] 

  
 29 

 IN WITNESS WHEREOF, Landlord and Tenant have executed this Lease, in quadruplicate, as of the day
and year first above written. 
  

			
	LANDLORD:
	  
 4C Realty LLC, a New York Limited Liability
Company

		
	By:	 	/s/ Christopher Cagnazzi                             (Seal)
	Name/Title: Christopher Cagnazzi, Managing Partner
	  
 TENANT:

	  
 Presidio Networked Solutions, Inc., a
Delaware corporation

		
	By:	 	 /s/ Paul D.
Fletcher                                     (Seal)

		 	Name: Paul D. Fletcher
		 	Title: CFO and EVP

  
 30 

 EXHIBIT A 

Location and Dimensions of Premises 

  
 31 

 EXHIBIT B 

Construction Exhibit 
  

	1.	The Premises are currently being occupied by Tenant pursuant to a prior lease agreement, and shall be delivered to Tenant as of the date of execution of this Lease in its current “as-is, where-is” condition.

  

	2.	Landlord shall provide to tenant an improvement allowance equal to $15.00 per RSF ($242,250.00) which tenant may use to improve the Premises. For purposes of this proposal, please provide a tenant improvement allowance
subject to the following: 

  

	 	•	 	Tenant will coordinate and manage any Tenant design and buildout. 

  

	 	•	 	Tenant may select, at their discretion, all vendors including architects, engineers, consultants, contractors and subcontractors for Tenant’s work. 

 

	 	•	 	The Tenant allowance is intended to cover all hard and soft costs associated with Tenant’s work, including but not limited to construction, architecture and consultant fees, moving, voice and cabling costs, etc.

  

	 	•	 	There will be no Landlord specified subcontractors, unless the additional cost, if any, of such subcontractors is borne by the Landlord. 

 

	 	•	 	There shall be no Landlord supervision or administrative fee. 

  

	 	•	 	Landlord shall provide the allowance to Tenant after Tenant submits paid invoices for work completed or Tenant may submit an approved invoice from a vendor with a request to pay the vendor directly. 

 

	 	•	 	The allowance may be used at any time during the term of the lease. Tenant shall have the right to offset from any Base Rent due Landlord for any portion of the tenant improvement allowance that landlord fails to pay
after sixty (60) day from any submittal of any valid Tenant request for payment. 

  
 32 

 EXHIBIT C 

Rules and Regulations 
 1. No part or the
whole of the sidewalks, entrances, passages, stairways, corridors or halls of the building or the real property shall be obstructed or encumbered by any tenant or used for any purpose other than ingress and egress to and from the space demised to
such tenant. 
 2. No awnings or other projections shall be attached to the outside walls or windows of the Building. No curtains, blinds, shades, or
screens shall be attached to or hung in, or used in connection with, any window or door of the space demised to any tenant other than those specified or supplied by Landlord, removal of same at any time will be prohibited. 

3. No sign, advertisement, object, notice or other lettering shall be exhibited, inscribed, painted, or affixed on any part of the outside or inside of
Tenant’s Premises, so as to be visible from the exterior, without prior written consent of Landlord, which shall not be unreasonably withheld, conditioned or delayed. 

4. The water and wash closets and other plumbing fixtures shall not be used for any purposes other than those for which they were constructed, and no
sweepings, rubbish, rags, or other substances (including, without limitation, coffee grounds) shall be thrown therein. All repairs necessitated by damage resulting from any misuse of the plumbing fixtures shall be borne by the Tenant. 

5. No tenant, nor any of its agents, employees, visitors, licensees, contractors, or suppliers shall at any time bring or keep upon the Premises any
flammable, combustible, highly toxic, corrosive or explosive fluid, chemical or substance except to the extent expressly permitted by law and./or the Lease, and then only with the prior written consent of Landlord. 

6. No cooking shall be done or permitted by Tenant in the Premises, without the prior written consent of Landlord, provided, however, that the heating,
refrigeration and preparing of beverages and light snacks for employees shall be permitted if there are appropriate facilities and equipment (such as toaster ovens, microwave ovens, coffee machines and the like) for such purposes. Tenant shall not
cause to permit any unusual or objectionable odors to be produced upon or emanate from the Premises. 
 7. Neither the whole nor any part of the space
demised to any tenant shall be used or for the sale at auction, or otherwise, of merchandise, goods, or property, without prior written approval from the Landlord. 

8. No tenant shall make or permit to be made, any unseemly or disturbing noises or disturb or interfere with other tenants or occupants of the Building or
neighboring buildings or premises. 
 9. No tenant shall place any additional locks upon any door within or to the Premises or elsewhere on the Property,
without (i) the prior written consent of the Landlord, which shall not be unreasonably withheld, conditioned or delayed, and (ii) providing a set of keys for any such approved locks to Landlord (except as to Secured Areas, if any). 

10. All moving of safes, freight, furniture or bulky matter of any description to and from the Premises, shall only take place within the confines of
specified passageways and/or loading docks. There shall not be used in any space, or in the public walkways of the Building, either by the Tenant or by jobbers or others, in the delivery or receipt of merchandise, and hand trucks, except those
equipped with rubber tires. 

  
 33 

 11. No tenant shall use or occupy or permit any portion of the space demised to such tenant to be used or
occupied as an employment bureau or for the storage, manufacture or sale of liquor, narcotics or illegal drugs. 
 12. No space demised to any tenant shall
be used, or permitted to be used, for lodging or sleeping or for any immoral or illegal purposes. 
 13. Special requirements of tenants will be attended to
only upon application at the office of Landlord. Building employees shall not be required to perform, and shall not be requested by any tenant to perform, any work outside of their regular duties, unless under specific instructions from the office
of Landlord or the Building management. 
 14. Canvassing, soliciting, and peddling in the Building is prohibited, and each tenant shall cooperate to
prevent the same. 
 15. No animals of any kind shall be kept about the Building by any tenant. 

16. No tenant shall install or permit or allow installation of a television, radio, or two-way radio antenna, or any other similar antenna, on the roof, in
the windows or upon the exterior of the Premises or the Building, without the prior written consent of Landlord, which shall not be unreasonably withheld, conditioned or delayed. 

17. Landlord shall in no event be responsible for admitting or excluding any person from the Premises. In case of invasion, hostile attack, insurrection, mob
violence riot, public excitement or other commotion, explosion, fire or any casualty, the Landlord shall have the right to bar or limit access to the Building or the Premises to protect the safety of the occupants or the property within the
Building. 
 18. Business machines, mechanical equipment and light manufacturing machines belonging to Tenant which cause noise or vibration that may be
transmitted to the structure of the Building or to any space therein to such a degree to be objectionable to Landlord or to any tenant in the Building shall be installed and maintained by Tenant, at Tenant’s expense, on vibration eliminators or
other devices sufficient to eliminate such noise and vibration 
 19. Tenant shall promptly notify the Building management of any serious breakage, or fire
or disorder, which comes to its attention in its Premises or any of the common areas of the Building. 
 20. Tenant shall apply, at Tenant’s costs,
such reasonable pest extermination measures as Tenant deems reasonably necessary, unless caused by Landlord or other Tenants. 
 21. Tenant shall not burn
any trash or garbage of any kind in or about the Premises. 
 22. Tenant shall not permit the use or placement of door mats or the like on the exterior of
any entrance door to the Premises. 
 23. For purposes of these Rules and Regulations, the “Building management” shall mean the duly designated
representative of Landlord to manage the Building. 

  
 34 

 EXHIBIT D 

Form Estoppel Certificate 

TENANT’S ESTOPPEL CERTIFICATE 
  

					
	PROPERTY:	 	 	  	
	LEASED PREMISES:	 	 	  	
	LANDLORD:	 	 	  	
	LEASE DATED:	 	 	  	(“Lease”)

 The undersigned tenant (“Tenant”), in recognition that
                     (together with its successors and assigns, [“Purchaser”)] [ “Lender”)] [intends to
purchase] [is providing financing for] the Property, hereby certifies to Landlord and [Purchaser] [Lender] that: 
 1. The Lease
is dated                      and has not been amended except as follows: [List the dates of any amendments or modifications of the
Lease.] A true and accurate copy of the Lease (and all amendments thereto) is attached hereto. Except as disclosed in Paragraph 2, below, the Lease has not been assigned, modified, supplemented or amended in any way. The Lease constitutes the
entire agreement between the parties and there are no other agreements or understandings between Landlord and Tenant concerning the Premises. The undersigned does not have (a) any option or preferential right to (i) purchase all or any
part of the Premises or the building of which the Premises are a part, (ii) lease additional space within the Building, (iii) cancel or terminate the Lease prior to the scheduled expiration date except for rights of termination arising
under the casualty and condemnation provisions of the Lease, to the extent applicable, or (iv) surrender space back to Landlord, [except as follows:
                    ] or (b) any right, title or interest with respect to the Premises or such building other than as Lessee under the
Lease. 
 2. Tenant has not assigned its rights under the Lease or sublet any portion of the leased premises [except as
follows:                    ]. 

3. Tenant has accepted possession of the Premises pursuant to the Lease. All improvements required by the terms of the Lease to be made by
Landlord have been completed to the satisfaction of Tenant [except as follows:                    ], and Landlord has fulfilled all of its
duties under the Lease with respect to construction of the Premises, including the funding of any tenant improvement allowance obligations thereunder. 

4. The Commencement Date of the Lease is
                    . The Lease Expiration Date, excluding any unexercised renewals and extensions, is
                    . 
 4. The
Lease is valid and in full force and effect, and to the best of Tenant’s knowledge, neither Landlord nor Tenant is in default thereunder. Tenant has no defense, setoff or counterclaim against Landlord arising out of the Lease or against the
payment of rent or other charges under the Lease or in any way relating thereto, or arising out of any other transaction between Tenant and Landlord, and, to the best of Tenant’s knowledge, no event has occurred and no condition exists, which
with the giving of notice or the passage of time, or both, will constitute a default under the Lease. Tenant is current in the payment of any taxes, utilities, common area maintenance or other charges to be paid by Tenant. 

5. There are no actions, whether voluntary or involuntary, pending against Tenant under any insolvency, bankruptcy or other debtor relief laws
of the United States of America or of the State of                     . 

  
 35 

 6. The Monthly Base Rent presently payable under the Lease is
$            . Landlord is holding a Security Deposit in an amount equal to $            . 

7. No rent or other sum payable under the Lease has been paid more than one month in advance. Tenant is not entitled to any credit against any
rent or other charges under the Lease, or any other rent concession under the Lease, including without limitation any such remaining credit (i.e., not previously applied against rent prior to the date hereof), whether arising from any unused tenant
improvement allowance or otherwise, except as follows (if applicable, explain basis for credit and amount of remaining credit): 

			
	 
	 	 	.

 8. [IF GIVEN TO A LENDER: Tenant acknowledges that: the Lease will be assigned to [LENDER’S NAME] as
lender, and Tenant has received no notice of a prior assignment, hypothecation or pledge of the Lease or the rents;]  
 9. [IF GIVEN
TO A LENDER: All notices and other communications from Tenant to Lender shall be in writing and shall be delivered or mailed by registered mail, postage paid, return receipt requested, addressed to: 

[INSERT LENDER NAME AND NOTICE ADDRESS] 

or at such other address as Lender or its successors, assigns or transferees shall furnish to Tenant in writing.] 

Date:             , 20     

Tenant: 

					
	 
		
	By:	 	 
		 	Name:	 	 
		 	Title:	 	 
		
	By:	 	 
		 	Name:	 	 
		 	Title:	 	 

  
 36Exhibit

EXHIBIT 10.14
RAYMOND JAMES FINANCIAL, INC.
AMENDED AND RESTATED
VOLUNTARY DEFERRED COMPENSATION PLAN
Raymond James Financial, Inc., a Florida corporation (the “Company”), hereby adopts this Amended and Restated Voluntary Deferred Compensation Plan (the “Plan”), effective February 23, 2016 (the “Effective Date”), for the purpose of attracting and retaining high quality executives and independent contractors, and promoting in them increased efficiency and an interest in the successful operation of the Company.  The Plan is intended to, and shall be interpreted to, comply in all respects with Code Section 409A and those provisions of ERISA applicable to an unfunded plan maintained primarily to provide deferred compensation benefits for a select group of “management or highly compensated employees.”
ARTICLE I 
DEFINITIONS
1.1    “Account” or “Accounts” shall mean the bookkeeping account or accounts established under this Plan pursuant to Article 4.
1.2    “Base Salary” shall mean a Participant’s annual base salary, excluding incentive and discretionary bonuses, commissions, reimbursements and other non-regular remuneration, received from the Company prior to reduction for any salary deferrals under benefit plans sponsored by the Company, including but not limited to, plans established pursuant to Code Section 125 or qualified pursuant to Code Section 401(k).
1.3    “Beneficiary” or “Beneficiaries” shall mean the person, persons or entity designated as such pursuant to Section 7.1.
1.4    “Board” shall mean the Board of Directors of the Company.
1.5    “Bonus(es)” shall mean amounts paid in cash to the Participant by the Company in the form of discretionary or annual incentive compensation or any other bonus designated by the Committee, before reductions for contributions to or deferrals under any pension, deferred compensation or benefit plans sponsored by the Company.
1.6    “Change in Control” shall mean the occurrence of a “change in the ownership,” a “change in the effective control” or a “change in the ownership of a substantial portion of the assets” of a corporation, as determined in accordance with this Section.
In order for an event described below to constitute a Change in Control with respect to a Participant, except as otherwise provided in part (b)(ii) of this Section, the applicable event must relate to the corporation for which the Participant is providing services, the corporation that is liable for payment of the Participant’s Account(s) (or all corporations liable for payment if more than one), as identified by the Committee in accordance with Treas. Reg. §1.409A-3(i)(5)(ii)(A)(2), or such other corporation identified by the Committee in accordance with Treas. Reg. §1.409A-3(i)(5)(ii)(A)(3).  For purposes of this Plan, only a Change in Control of the Company or its successor shall result in payment of a Change in Control Benefit.
In determining whether an event shall be considered a “change in the ownership,” a “change in the effective control” or a “change in the ownership of a substantial portion of the assets” of a corporation, the following provisions shall apply:
(a)    A “change in the ownership” of the applicable corporation shall occur on the date on which any one person, or more than one person acting as a group, acquires ownership of stock of such corporation that, together with stock held by such person or group, constitutes more than 50% of the total fair market value or total voting power of the stock of such corporation, as determined in accordance with Treas. Reg. §1.409A-3(i)(5)(v).  If a person or group is considered either to own more than 50% of the total fair market value or total voting power of the stock of such 

209

corporation, or to have effective control of such corporation within the meaning of part (b) of this Section, and such person or group acquires additional stock of such corporation, the acquisition of additional stock by such person or group shall not be considered to cause a “change in the ownership” of such corporation.
(b)    A “change in the effective control” of the applicable corporation shall occur on either of the following dates:
(i)    The date on which any one person, or more than one person acting as a group, acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such person or persons) ownership of stock of such corporation possessing 30% or more of the total voting power of the stock of such corporation, as determined in accordance with Treas. Reg. §1.409A-3(i)(5)(vi).  If a person or group is considered to possess 30% or more of the total voting power of the stock of a corporation, and such person or group acquires additional stock of such corporation, the acquisition of additional stock by such person or group shall not be considered to cause a “change in the effective control” of such corporation; or
(ii)    The date on which a majority of the members of the applicable corporation’s board of directors is replaced during any 12-month period by directors whose appointment or election is not endorsed by a majority of the members of such corporation’s board of directors before the date of the appointment or election, as determined in accordance with Treas. Reg. §1.409A-3(i)(5)(vi).  In determining whether the event described in the preceding sentence has occurred, the applicable corporation to which the event must relate shall only include a corporation identified in accordance with Treas. Reg. §1.409A-3(i)(5)(ii) for which no other corporation is a majority shareholder.
(c)    A “change in the ownership of a substantial portion of the assets” of the applicable corporation shall occur on the date on which any one person, or more than one person acting as a group, acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such person or persons) assets from the corporation that have a total gross fair market value equal to or more than 40% of the total gross fair market value of all of the assets of the corporation immediately before such acquisition or acquisitions, as determined in accordance with Treas. Reg. §1.409A-3(i)(5)(vii).  A transfer of assets shall not be treated as a “change in the ownership of a substantial portion of the assets” when such transfer is made to an entity that is controlled by the shareholders of the transferor corporation, as determined in accordance with Treas. Reg. §1.409A-3(i)(5)(vii)(B).
1.7    “Code” shall mean the Internal Revenue Code of 1986, as amended, as interpreted by Treasury regulations and applicable authorities promulgated thereunder.
1.8    “Committee” shall mean the person or persons appointed by the Board to administer the Plan in accordance with Article 9.
1.9    “Commissions” shall mean commissions payable to the Participant for the applicable Plan Year (as determined by the Committee in compliance with Code Section 409A) before reductions for contributions to or deferrals under any pension, deferred compensation or benefit plans sponsored by the Company.
1.10    “Company Contributions” shall mean the contributions made by the Company pursuant to Section 3.3.
1.11    “Company Contribution Account” shall mean the Account maintained for the benefit of the Participant which is credited with Company Contributions, if any, pursuant to Section 4.2.
1.12    “Compensation” shall mean all amounts eligible for deferral for a particular Plan Year under Section 3.1.
1.13    “Crediting Rate” shall mean the notional gains and losses credited on the Participant’s Account balance which are based on the Participant’s choice among the investment alternatives made available by the Committee pursuant to Section 3.4 of the Plan.
1.14    “Deferral Account” shall mean an Account maintained for each Participant that is credited with Participant deferrals pursuant to Section 4.1

210

1.15    “Disability” or “Disabled” shall mean (consistent with the requirements of Code Section 409A) that the Participant (a) is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, or (b) is, by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Participant’s Employer.  For purposes of this Plan, a Participant shall be deemed Disabled if determined to be totally disabled by the Social Security Administration.  A Participant shall also be deemed Disabled if determined to be disabled in accordance with the applicable disability insurance program of such Participant’s Employer, provided that the definition of “disability” applied under such disability insurance program complies with the requirements of this Section.
1.16    “Distributable Amount” shall mean the vested balance in the applicable Account as determined under Article 4.
1.17    “Eligible Executive” shall mean a highly compensated or management level employee or independent contractor of the Company selected by the Committee to be eligible to participate in the Plan.
1.18    “Employer(s)” shall be defined as follows:
(a)    Except as otherwise provided in part (b) of this Section, the term “Employer” shall mean the Company and/or any of its subsidiaries (now in existence or hereafter formed or acquired) that have been selected by the Board to participate in the Plan and have adopted the Plan as a sponsor.
(b)    For the purpose of determining whether a Participant has experienced a Separation from Service, the term “Employer” shall mean:
(1)    The entity for which the Participant performs services and with respect to which the legally binding right to compensation deferred or contributed under this Plan arises; and
(2)    All other entities with which the entity described above would be aggregated and treated as a single employer under Code Section 414(b) (controlled group of corporations) and Code Section 414(c) (a group of trades or businesses, whether or not incorporated, under common control), as applicable.  In order to identify the group of entities described in the preceding sentence, the Committee shall use an ownership threshold of at least 50% as a substitute for the 80% minimum ownership threshold that appears in, and otherwise must be used when applying, the applicable provisions of (A) Code Section 1563 for determining a controlled group of corporations under Code Section 414(b), and (B) Treas. Reg. §1.414(c)-2 for determining the trades or businesses that are under common control under Code Section 414(c).
1.19    “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended, including Department of Labor and Treasury regulations and applicable authorities promulgated thereunder.
1.20    “Fund” or “Funds” shall mean one or more of the investments selected by the Committee pursuant to Section 3.4 of the Plan.  A “Fund” may include an option for the Participant to elect to receive a distribution of an annuity contract.
1.21    “Interest Rate” shall mean, for each Fund, an amount equal to the net gain or loss on the assets of such Fund during each month, as determined by the Committee.
1.22    “Participant” shall mean any Eligible Executive who becomes a Participant in this Plan in accordance with Article 2.
1.23    “Participant Election(s)” shall mean the forms or procedures by which a Participant makes elections with respect to (a) voluntary deferrals of his/her Compensation, (b) the Funds, which shall act as the basis for crediting of interest on Account balances, and (c) the form and timing of distributions from Accounts.  Participant Elections may 

211

take the form of an electronic communication followed by appropriate confirmation according to specifications established by the Committee.
1.24    “Payment Date” shall mean the date by which a total distribution of the Distributable Amount shall be made or the date by which installment payments of the Distributable Amount shall commence.
(a)    For benefits triggered by the Participant’s Separation from Service, the Payment Date shall be February 1st of the Plan Year following the Participant’s Separation from Service, and the applicable Distributable Amount shall be calculated as of the last business day of January of the Plan Year following the Separation from Service.  Notwithstanding the foregoing, in the event of the Separation from Service of a Specified Employee, the Payment Date for such Participant’s Retirement distribution or Termination distribution, as applicable, shall be the first day of the seventh month commencing after the Separation from Service and the applicable amount shall be calculated as of the last business day of the sixth month commencing after the Participant’s Separation from Service.  Subsequent installments, if any, shall be calculated as of the last business day of January of each Plan Year following the initial installment, and shall be made in February of such succeeding Plan Year;
(b)    For benefits triggered by a Change in Control, the Payment Date shall be the February 1st commencing after the event triggering the payout occurs, and the applicable amount shall be calculated as of the last business day of the January commencing after the event triggering the payout.  For benefits triggered by death or Disability, the Payment Date shall be the month following the month in which occurs the event triggering the payment.  In the case of death, the Committee shall be provided with documentation reasonably necessary to establish the fact of the Participant’s death; and
(c)    The Payment Date of a Scheduled Distribution shall be February 1st of the Plan Year in which the distribution is scheduled to commence, and the applicable Distributable Amount shall be calculated as of the last business day of January of such Plan Year.  Subsequent installments, if any, shall be calculated as of the last business day of January of each succeeding Plan Year, and shall be made in February of such succeeding Plan Year.
Notwithstanding the foregoing, the Payment Date shall not be before the earliest date on which benefits may be distributed under Code Section 409A without violation of the provisions thereof, as reasonably determined by the Committee.
1.25    “Performance-Based Compensation” shall mean compensation the entitlement to or amount of which is contingent on the satisfaction of pre-established organizational or individual performance criteria relating to a performance period of at least 12 consecutive months, as determined by the Committee in accordance with Treas. Reg. §1.409A-1(e).
1.26    “Plan Year” shall mean the calendar year.
1.27    “Retirement” shall mean a Participant’s Separation from Service after having attained (i) age fifty-five (55) and completed ten (10) Years of Service or (ii) beginning with amounts deferred under the Plan after 2016, age 65.
1.28    “Separation from Service” shall mean a termination of services provided by a Participant to his or her Employer, whether voluntarily or involuntarily, other than by reason of death or Disability, as determined by the Committee in accordance with Treas. Reg. §1.409A-1(h).  In determining whether a Participant has experienced a Separation from Service, the following provisions shall apply:
(a)    For a Participant who provides services to an Employer as an employee, except as otherwise provided in part (c) of this Section, a Separation from Service shall occur when such Participant has experienced a termination of employment with such employer.  A Participant shall be considered to have experienced a termination of employment when the facts and circumstances indicate that the Participant and his or her employer reasonably anticipate that either (i) no further services will be performed for the employer after a certain date, or (ii) that the level of bona fide services the Participant will perform for the employer after such date (whether as an employee or as an independent contractor) will permanently decrease to no more than 20% of the average level of bona fide services performed by such Participant (whether as an employee or an independent contractor) over the immediately preceding 

212

36-month period (or the full period of services to the employer if the Participant has been providing services to the Employer less than 36 months).
If a Participant is on military leave, sick leave, or other bona fide leave of absence, the employment relationship between the Participant and the Employer shall be treated as continuing intact, provided that the period of such leave does not exceed 6 months, or if longer, so long as the Participant retains a right to reemployment with the Employer under an applicable statute or by contract.  If the period of a military leave, sick leave, or other bona fide leave of absence exceeds 6 months and the Participant does not retain a right to reemployment under an applicable statute or by contract, the employment relationship shall be considered to be terminated for purposes of this Plan as of the first day immediately following the end of such 6-month period.  In applying the provisions of this paragraph, a leave of absence shall be considered a bona fide leave of absence only if there is a reasonable expectation that the Participant will return to perform services for the Employer.
(b)    For a Participant, if any, who provides services to an Employer as an independent contractor, except as otherwise provided in part (c) of this Section, a Separation from Service shall occur upon the expiration of the contract (or in the case of more than one contract, all contracts) under which services are performed for such Employer, provided that the expiration of such contract(s) is determined by the Committee to constitute a good-faith and complete termination of the contractual relationship between the Participant and such Employer.
(c)    For a Participant, if any, who provides services to an Employer as both an employee and an independent contractor, a Separation from Service generally shall not occur until the Participant has ceased providing services for such Employer as both an employee and as an independent contractor, as determined in accordance with the provisions set forth in parts (a) and (b) of this Section, respectively.  Similarly, if a Participant either (i) ceases providing services for an Employer as an independent contractor and begins providing services for such Employer as an employee, or (ii) ceases providing services for an Employer as an employee and begins providing services for such Employer as an independent contractor, the Participant will not be considered to have experienced a Separation from Service until the Participant has ceased providing services for such Employer in both capacities, as determined in accordance with the applicable provisions set forth in parts (a) and (b) of this Section.
Notwithstanding the foregoing provisions in this part (c), if a Participant provides services for an Employer as both an employee and as a member of the Board, to the extent permitted by Treas. Reg. §1.409A-1(h)(5) the services provided by such Participant as a member of the Board shall not be taken into account in determining whether the Participant has experienced a Separation from Service as an employee, and the services provided by such Participant as an employee shall not be taken into account in determining whether the Participant has experienced a Separation from Service as a member of the Board.
1.29    “Scheduled Distribution” shall mean a scheduled distribution date elected by the Participant for distribution of amounts from the Deferral Account related to a specific Plan Year, including notional earnings thereon, as provided under Section 6.5.
1.30    “Specified Employee” shall mean any Participant who is determined to be a “key employee” (as defined under Code Section 416(i) without regard to paragraph (5) thereof) for the applicable period, as determined annually by the Committee in accordance with Treas. Reg. §1.409A-1(i).  In determining whether a Participant is a Specified Employee, the following provisions shall apply:
(a)    The Committee’s identification of the individuals who fall within the definition of “key employee” under Code Section 416(i) (without regard to paragraph (5) thereof) shall be based upon the 12-month period ending on each December 31st (referred to below as the “identification date”).  In applying the applicable provisions of Code Section 416(i) to identify such individuals, “compensation” shall be determined in accordance with Treas. Reg. §1.415(c)-2(a) without regard to (i) any safe harbor provided in Treas. Reg. §1.415(c)-2(d), (ii) any of the special timing rules provided in Treas. Reg. §1.415(c)-2(e), and (iii) any of the special rules provided in Treas. Reg. §1.415(c)-2(g); and
(b)    Each Participant who is among the individuals identified as a “key employee” in accordance with part (a) of this Section shall be treated as a Specified Employee for purposes of this Plan if such Participant 

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experiences a Separation from Service during the 12-month period that begins on the April 1st following the applicable identification date.
1.31    “Termination of Service” shall mean a Participant’s Separation from Service that does not qualify as a Retirement.
1.32    “Years of Service” shall mean the cumulative consecutive years of continuous full-time employment with the Company (including approved leaves of absence of six months or less or legally protected leaves of absence), beginning on the date the Participant first began service with the Company, and counting each anniversary thereof.  A partial year of employment shall not be treated as a Year of Service.
ARTICLE II 
PARTICIPATION
2.1    Enrollment Requirements; Commencement of Participation.
(a)    As a condition to participation, each Eligible Executive shall complete, execute and return to the Committee the appropriate Participant Elections, as well as such other documentation and information as the Committee reasonably requests, by the deadline(s) established by the Committee.  In addition, the Committee shall establish from time to time such other enrollment requirements as it determines, in its sole discretion, are necessary.
(b)    Each Eligible Executive shall commence participation in the Plan on the date that the Committee determines that the Eligible Executive has met all enrollment requirements set forth in this Plan and required by the Committee, including returning all required documents to the Committee within the specified time period.
(c)    If an Eligible Executive fails to meet all requirements established by the Committee within the period required, that Eligible Executive shall not participate in the Plan during such Plan Year.
ARTICLE III 
CONTRIBUTIONS & DEFERRAL ELECTIONS
3.1    Elections to Defer Compensation.  Elections to defer Compensation shall take the form of a whole percentage or, in the case of an independent contractor, a whole dollar amount (less applicable payroll withholding requirements for Social Security and income taxes and employee benefit plans, as determined in the sole and absolute discretion of the Committee) of up to a maximum of:
(1)    75% of Base Salary,
(2)    75% of Bonuses, and
(3)    75% of Commissions.
For each deferral type listed above, a Participant’s deferral election for a given Plan Year shall only be valid and accepted by the Committee if such election reflects a minimum deferral of 5% of the applicable type of Compensation, and/or a minimum deferral of $15,000 of the applicable type of Compensation, as specified by the Committee.
The Committee may, in its sole discretion, adjust for each Plan Year on a prospective basis the minimum and maximum deferral percentages and amounts described in this Section for one or more types of Compensation (including, without limitation, for particular types of Bonuses) and for one or more subsequent Plan Years; such revised deferral percentages shall be indicated on a Participant Election form approved by the Committee. Notwithstanding the foregoing, in no event shall the minimum and maximum deferral percentages be adjusted after the last date on which deferral elections 

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for the applicable type(s) of Compensation must be submitted and become irrevocable in accordance with Section 3.2 below and the requirements of Code Section 409A.
3.2    Timing of Deferral Elections; Effect of Participant Election(s).
(a)    General Timing Rule for Deferral Elections.  Except as otherwise provided in this Section 3.2, in order for a Participant to make a valid election to defer Compensation, the Participant must submit Participant Election(s) on or before the deadline established by the Committee, which shall be no later than the December 31st preceding the Plan Year in which such compensation will be earned.
Any deferral election made in accordance with this Section 3.2(a) shall be irrevocable; provided, however, that if the Committee permits or requires Participants to make a deferral election by the deadline described above for an amount that qualifies as Performance-Based Compensation, the Committee may permit a Participant to subsequently change his or her deferral election for such compensation by submitting new Participant Election(s) in accordance with Section 3.2(d) below.
(b)    Timing of Deferral Elections for New Plan Participants.  An Eligible Executive who first becomes eligible to participate in the Plan on or after the beginning of a Plan Year, as determined in accordance with Treas. Reg. §1.409A-2(a)(7)(ii) and the “plan aggregation” rules provided in Treas. Reg. §1.409A-1(c)(2), may be permitted to make an election to defer the portion of Compensation attributable to services to be performed after such election, provided that the Participant submits Participant Election(s) on or before the deadline established by the Committee, which in no event shall be later than thirty (30) days after the Participant first becomes eligible to participate in the Plan.
If a deferral election made in accordance with this Section 3.2(b) relates to compensation earned based upon a specified performance period, the amount eligible for deferral shall be equal to (i) the total amount of compensation for the performance period, multiplied by (ii) a fraction, the numerator of which is the number of days remaining in the service period after the Participant’s deferral election is made, and the denominator of which is the total number of days in the performance period.
Any deferral election made in accordance with this Section 3.2(b) shall become irrevocable no later than the 30th day after the date the Participant first becomes eligible to participate in the Plan.
(c)    Timing of Deferral Elections for Fiscal Year Compensation.  In the event that the fiscal year of an Employer is different than the taxable year of a Participant, the Committee may determine that a deferral election may be made for “fiscal year compensation” (as defined below), by submitting Participant Election(s) on or before the deadline established by the Committee, which in no event shall be later than the last day of the Employer’s fiscal year immediately preceding the fiscal year in which the services related to such compensation will begin to be performed.  For purposes of this Section, the term “fiscal year compensation” shall only include Bonuses relating to a service period coextensive with one or more consecutive fiscal years of the Employer, of which no amount is paid or payable during the Employer’s fiscal year(s) that constitute the service period.
A deferral election made in accordance with this Section 3.2(c) shall be irrevocable; provided, however, that if the Committee permits or requires Participants to make a deferral election by the deadline described in this Section 3.2(c) for an amount that qualifies as Performance-Based Compensation, the Committee may permit a Participant to subsequently change his or her deferral election for such compensation by submitting new Participant Election(s) in accordance with 3.2(d) below.
(d)    Timing of Deferral Elections for Performance-Based Compensation.  Subject to the limitations described below, the Committee may determine that an irrevocable deferral election for an amount that qualifies as Performance-Based Compensation may be made by submitting Participant Election(s) on or before the deadline established by the Committee, which in no event shall be later than six (6) months before the end of the performance period.
In order for a Participant to be eligible to make a deferral election for Performance-Based Compensation in accordance with the deadline established pursuant to this Section 3.2(d), the Participant must have performed services continuously 

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from the later of (i) the beginning of the performance period for such compensation, or (ii) the date upon which the performance criteria for such compensation are established, through the date upon which the Participant makes the deferral election for such compensation.  In no event shall a deferral election submitted under this Section 3.2(d) be permitted to apply to any amount of Performance-Based Compensation that has become readily ascertainable.
(e)    Timing Rule for Deferral of Compensation Subject to Risk of Forfeiture.  With respect to compensation (i) to which a Participant has a legally binding right to payment in a subsequent year, and (ii) that is subject to a forfeiture condition requiring the Participant’s continued services for a period of at least 12 months from the date the Participant obtains the legally binding right, the Committee may determine that an irrevocable deferral election for such compensation may be made by timely delivering Participant Election(s) to the Committee in accordance with its rules and procedures, no later than the 30th day after the Participant obtains the legally binding right to the compensation, provided that the election is made at least 12 months in advance of the earliest date at which the forfeiture condition could lapse, as determined in accordance with Treas. Reg. §1.409A-2(a)(5).
Any deferral election(s) made in accordance with this Section 3.2(e) shall become irrevocable no later than the 30th day after the Participant obtains the legally binding right to the compensation subject to such deferral election(s).
(f)    Separate Deferral Elections for Each Plan Year.  In order to defer Compensation for a Plan Year, a Participant must submit a separate deferral election with respect to Compensation for such Plan Year by affirmatively filing a Participant Election during the enrollment period established by the Committee prior to the beginning of such Plan Year (or at such other time contemplated under this Section 3.2), which election shall be effective on the first day of the next following Plan Year (unless otherwise specified on the Participant Election or in the case of elections pursuant to Section 3.2 or Section 3.3).
3.3    Company Contributions. The Company shall have the discretion to make Company Contributions to the Plan at any time and in any amount on behalf of any Participant.  Company Contributions shall be made in the complete and sole discretion of the Company and no Participant shall have the right to receive any Company Contribution in any particular Plan Year regardless of whether Company Contributions are made on behalf of other Participants.
3.4    Investment Elections.
(a)    Participant Designation.  At the time of entering the Plan and/or of making a deferral election under the Plan, the Participant shall designate, on a Participant Election provided by the Committee, the Funds in which the Participant’s Accounts shall be deemed to be invested for purposes of determining the amount of earnings and losses to be credited to each Account.  The Participant may specify that all or any percentage of his or her Accounts shall be deemed to be invested, in whole percentage increments, in one or more of the Funds selected as alternative investments under the Plan from time to time by the Committee pursuant to subsection (b) of this Section.  If a Participant fails to make an election among the Funds as described in this section, the portion of the Participant’s Account balance with respect to which no investment election was made shall automatically be allocated into the lowest-risk Fund, as determined by the Committee, in its sole discretion.  A Participant may change any designation made under this Section as permitted by the Committee by filing a revised election, on a Participant Election provided by the Committee. Notwithstanding the foregoing, the Committee, in its sole discretion, may impose limitations on the frequency with which one or more of the Funds elected in accordance with this Section may be added or deleted by such Participant; furthermore, the Committee, in its sole discretion, may impose limitations on the frequency with which the Participant may change the portion of his or her Account balance allocated to each previously or newly elected Fund.
(b)    Investment Funds. Prior to the beginning of each Plan Year, the Committee may select, in its sole and absolute discretion, each of the types of commercially available investments communicated to the Participant pursuant to subsection (a) of this Section to be the Funds.  The Interest Rate of each such commercially available investment shall be used to determine the amount of earnings or losses to be credited to Participant’s Account under Article IV.  The Participant’s choice among investments shall be solely for purposes of calculation of the Crediting Rate on Accounts.  The Company and the Employers shall have no obligation to set aside or invest amounts as directed by the Participant and, if the Company and/or the Employer elects to invest amounts as directed by the Participant, the Participant shall have no more right to such investments than any other unsecured general creditor.

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3.5    Distribution Elections.
(a)    Initial Election.  At the time of making a deferral election under the Plan for each Plan Year, the Participant shall designate the time and form of distribution of deferrals made pursuant to such election and any applicable Company Contributions (together with any earnings credited thereon) from among the alternatives specified under Article VI for the applicable distribution event.  Except in the case of the Change in Control distribution election pursuant to Section 6.6, such distribution election for a given Plan Year shall relate solely to that Plan Year’s deferrals and Company Contributions (if any).  A new distribution election may be made at the time of subsequent deferral elections with respect to deferrals and Company Contributions for the subsequent Plan Year to which the deferral elections relate.
(b)    Modification of Election.  A distribution election with respect to previously deferred amounts may only be changed under the terms and conditions specified in Code Section 409A.  Except as permitted under Code Section 409A, no acceleration of a distribution is permitted.  A subsequent election that delays payment or changes the form of payment shall be permitted if and only if all of the following requirements are met:
(1)    the new election does not take effect until at least twelve (12) months after the date on which the new election is made;
(2)    in the case of payments made on account of Retirement or a Scheduled Distribution, the new election delays payment for at least five (5) years from the date that payment would otherwise have been made, absent the new election; and
(3)    in the case of payments made according to a Scheduled Distribution, the new election is made not less than twelve (12) months before the date on which payment would have been made (or, in the case of installment payments, the first installment payment would have been made) absent the new election.
For purposes of application of the above change limitations, installment payments shall be treated as a single payment under Code Section 409A.  Election changes made pursuant to this Section shall be made in accordance with rules established by the Committee and shall comply with all requirements of Code Section 409A and applicable authorities.  No election changes shall be permitted in regard to the Change in Control Benefit under Section 6.6.
ARTICLE IV 
ACCOUNTS
4.1    Deferral Accounts.  The Committee shall establish and maintain one Deferral Account for each Participant under the Plan.  Each Participant’s Deferral Account shall be further divided into separate subaccounts (“Fund Subaccounts”), each of which corresponds to a Fund designated pursuant to Section 3.4.  A Participant’s Deferral Account shall be credited as follows:
(a)    As soon as reasonably possible after amounts are withheld and deferred from a Participant’s Compensation, the Committee shall credit the Fund Subaccounts of the Participant’s Deferral Account with an amount equal to Compensation deferred by the Participant in accordance with the designation under Section 3.4; that is, the portion of the Participant’s deferred Compensation designated to be deemed to be invested in a Fund shall be credited to the Fund Subaccount to be invested in that Fund;
(b)    Each business day, each Fund Subaccount of a Participant’s Deferral Account shall be credited with earnings or losses in an amount equal to that determined by multiplying the balance credited to such Fund Subaccount as of the prior day, less any distributions valued as of the end of the prior day, by the Interest Rate for the corresponding Fund as determined by the Committee pursuant to Section 3.4(b); and
(c)    In the event that a Participant elects for a given Plan Year’s deferral of Compensation a Scheduled Distribution, all amounts attributed to the deferral of Compensation for such Plan Year shall be accounted 

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for in a manner which allows separate accounting for the deferral of Compensation and investment gains and losses associated with amounts allocated to each such separate Scheduled Distribution.
4.2    Company Contribution Account.  The Committee shall establish and maintain a Company Contribution Account for each Participant under the Plan.  Each Participant’s Company Contribution Account shall be further divided into separate Fund Subaccounts corresponding to the Fund designated pursuant to Section 3.4(a).  A Participant’s Company Contribution Account shall be credited as follows:
(a)    As soon as reasonably possible after a Company Contribution is made, the Company shall credit the Fund Subaccounts of the Participant’s Company Contribution Account with an amount equal to the Company Contributions, if any, made on behalf of that Participant, that is, the proportion of the Company Contributions, if any, designated to be deemed to be invested in a certain Fund shall be credited to the Fund Subaccount to be invested in that Fund.  However, only Company Contributions in which the Participant is 100% vested may be deemed invested in a Fund that includes an option for the Participant to elect to receive a distribution of an annuity contract.  Unless the Participant elects otherwise, any Company Contribution that may not be deemed invested in such a Fund shall be deemed invested in the default Fund selected by the Committee for such purpose; and
(b)    Each business day, each Fund Subaccount of a Participant’s Company Contribution Account shall be credited with earnings or losses in an amount equal to that determined by multiplying the balance credited to such Fund Subaccount as of the prior day, less any distributions valued as of the end of the prior day, by the Interest Rate for the corresponding Fund as determined by the Committee pursuant to Section 3.4(b).
4.3    Trust.  The Company shall be responsible for the payment of all benefits under the Plan.  At its discretion, the Company may establish one or more grantor trusts for the purpose of providing for payment of benefits under the Plan.  Such trust or trusts may be irrevocable, but the assets thereof shall be subject to the claims of the Company’s creditors.  Benefits paid to the Participant from any such trust or trusts shall be considered paid by the Company for purposes of meeting the obligations of the Company under the Plan.
4.4    Statement of Accounts.  The Committee shall provide each Participant with electronic statements at least quarterly setting forth the Participant’s Account balance as of the end of each calendar quarter.
ARTICLE V 
VESTING
5.1    Vesting of Deferral Account.  The Participant shall be vested at all times in amounts credited to the Participant’s Deferral Account.
5.2    Vesting of Company Contribution Account.
(a)    Amounts credited to the Participant’s Company Contribution Account shall be vested in accordance with the vesting schedule(s) declared by the Committee, in its sole discretion, and communicated to the Participant.
(b)    In the event of a Change in Control prior to the Participant’s Separation from Service, or the Participant’s Retirement, Disability prior to Separation from Service or death prior to Separation from Service, the Participant’s Company Contribution Account shall be fully vested.
This Section 5.2(c) shall not prevent the acceleration of the vesting schedules described in this Article V if such Participant is entitled to a “gross-up” payment to eliminate the effect of the Code Section 4999 excise tax, pursuant to his or her employment agreement or other agreement entered into between such Participant and the Employer.

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ARTICLE VI 
DISTRIBUTIONS
6.1    Retirement Distributions.
(a)    Timing and Form of Retirement Distributions.  Except as otherwise provided herein, in the event of a Participant’s Retirement, the Distributable Amount credited to the Participant’s Deferral Account and Company Contribution Account shall be paid to the Participant in cash, an annuity contract or other property on the Payment Date following the Participant’s Retirement, unless the Participant has made an alternative benefit distribution election on a timely basis to receive substantially equal annual installments over up to ten (10) years.
(b)    Small Benefit Exception.  Notwithstanding any election regarding the form of payment for a Retirement distribution, if a Participant’s total Distributable Amount from the Participant’s Deferral Account and Company Contribution Account is less than or equal to fifty thousand dollars ($50,000) on the Participant’s Retirement date, the total Distributable Amount from such Accounts shall be paid in cash, an annuity contract or other property on the scheduled Payment Date.
6.2    Termination Distributions.  Except as otherwise provided herein, in the event of a Participant’s Termination of Service, the Distributable Amount credited to the Participant’s Deferral Account and Company Contribution Account shall be paid to the Participant in cash, an annuity contract or other property on the Payment Date following the Participant’s Termination of Service.
6.3    Disability Distributions.  Except as otherwise provided herein, in the event of a Participant’s Disability prior to Separation from Service, the Distributable Amount credited to the Participant’s Deferral Account and Company Contribution Account shall be paid to the Participant in cash, an annuity contract or other property in the month following the month of determination of the Participant’s Disability.
6.4    Death Distributions.
(a)    Years Prior to 2016.  Except as otherwise provided herein, in the event that a Participant dies prior to complete distribution of his or her Accounts, with respect to deferrals for calendar years prior to 2016, the Company shall pay to the Participant’s Beneficiary a death benefit equal to the aggregate total Distributable Amount remaining in the Participant’s Deferral Account and Company Contribution Account in a lump sum in the month following the month of the Participant’s death.  However, except as otherwise provided herein, with respect to deferrals for calendar years prior to 2016, if the Participant has made an alternative benefit distribution election on a timely basis to do so, the Participant will receive in the event of death prior to any other distribution event the Distributable Amount in the Participant’s Deferral Account and Company Contribution Account related to such year in substantially equal annual installments over a period of up to five (5) years.
(b)    Years After 2015.  Except as otherwise provided herein, with respect to deferrals for calendar years beginning after 2015, a Participant will receive in the event of death prior to any other distribution event the Distributable Amount in the Participant’s Deferral Account and Company Contribution Account related to such year in a lump sum in the month following the month after Participant’s death, unless the Participant has made an alternative benefit distribution election on a timely basis to receive such Distributable Amount in substantially equal annual installments over a period of up to five (5) years.  With respect to deferrals for calendar years beginning after 2015, except as otherwise provided herein, in the event that a Participant dies following a distribution event and prior to a complete distribution of the amounts related to deferrals for a particular year, the Company shall pay to the Participant’s Beneficiary a death benefit equal to the undistributed portion of the Distributable Amount remaining in the Participant’s Deferral Account and Company Contribution Account related to such year in a lump sum in the month following the month of the Participant’s death.
6.5    Scheduled Distributions.
(a)    Scheduled Distribution Election.  Participants shall be entitled to elect to receive a Scheduled Distribution from the Deferral Account.  However, a Scheduled Distribution may not be elected from a Fund Subaccount 

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deemed to be invested in a Fund that includes an option for the Participant to elect to receive a distribution of an annuity contract.  In the case of a Participant who has elected to receive a Scheduled Distribution, such Participant shall receive the Distributable Amount, with respect to the specified Plan Year’s deferrals, including earnings thereon, which have been elected by the Participant to be subject to such Scheduled Distribution election in accordance with Section 3.5 of the Plan.  The Committee shall determine the earliest commencement date that may be elected by the Participant for each Scheduled Distribution and such date shall be indicated on the Participant Election.  The Participant may elect to receive the Scheduled Distribution in a single lump sum or substantially equal annual installments over a period of up to five (5) years. A Participant may delay and change the form of a Scheduled Distribution, provided such extension complies with the requirements of Section 3.5.
(b)    Small Benefit Exception.  Notwithstanding any election regarding the form of payment for a Scheduled Distribution, if the Scheduled Distribution is less than or equal to twenty thousand dollars ($20,000) on the applicable Payment Date, such Scheduled Distribution shall be paid in the form of a single lump sum distribution on such Payment Date.
(c)    Relationship to Other Benefits.
(1)    In the event that distribution of a Participant’s Account is triggered prior to commencement of a Scheduled Distribution, the amounts subject to such Scheduled Distribution shall not be distributed under this Section 6.5, but rather shall be distributed in accordance with the other applicable Section of this Article VI.
(2)    In the event of a Participant’s Separation from Service or Disability after a Scheduled Distribution has commenced installment payments, such Scheduled Distribution benefits shall continue to be paid at the same time and in the same form as they would have been paid to the Participant had the Separation from Service or Disability not occurred.
(3)    In the event of a Participant’s death after a Scheduled Distribution has commenced installment payments, such Participant’s remaining Distributable Amount in his or her Accounts shall be distributed in accordance with Section 6.4.
(4)    In the event of a Change in Control after a Scheduled Distribution has commenced installment payments, the remaining Distributable Amount in the Accounts of each Participant who has affirmatively elected the Change in Control Benefit shall be distributed in accordance with Section 6.6.
6.6    Change in Control Benefit; Election.  A Participant, in connection with his or her commencement of participation in the Plan, shall have an opportunity to irrevocably elect to receive the total Distributable Amount from the Deferral Account and Company Contribution Account in the form of a lump sum payment in the event a Change in Control occurs prior to the complete distribution of the Participant’s Accounts (the “Change in Control Benefit”).  Such lump sum payment shall be made on the Payment Date following the Change in Control.  If a Participant elects not to receive a Change in Control Benefit, or fails to make an election in connection with his or her commencement of participation in the Plan, the Participant’s Accounts shall be paid in accordance with the other applicable provisions of the Plan.
ARTICLE VII 
PAYEE DESIGNATIONS AND LIMITATIONS
7.1    Beneficiaries.
(a)    Beneficiary Designation.  The Participant shall have the right, at any time, to designate any person or persons as Beneficiary (both primary and contingent) to whom payment under the Plan shall be made in the event of the Participant’s death.  If the Participant names someone other than his or her spouse as a Beneficiary, the Committee may, in its sole discretion, determine that spousal consent is required to be provided in a form designated by the Committee, executed by such Participant's spouse and returned to the Committee.  The Beneficiary designation 

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shall be effective when it is submitted to and acknowledged by the Committee during the Participant’s lifetime in the format prescribed by the Committee.
(b)    Absence of Valid Designation.  If a Participant fails to designate a Beneficiary as provided above, or if every person designated as Beneficiary predeceases the Participant or dies prior to complete distribution of the Participant’s benefits, then the Committee shall deem the Participant’s estate to be the Beneficiary and shall direct the distribution of such benefits to the Participant’s estate.
7.2    Payments to Minors.  In the event any amount is payable under the Plan to a minor, payment shall not be made to the minor, but instead such payment shall be made (a) to that person’s living parent(s) to act as custodian, (b) if that person’s parents are then divorced, and one parent is the sole custodial parent, to such custodial parent, to act as custodian, or (c) if no parent of that person is then living, to a custodian selected by the Committee to hold the funds for the minor under the Uniform Transfers or Gifts to Minors Act in effect in the jurisdiction in which the minor resides.  If no parent is living and the Committee decides not to select another custodian to hold the funds for the minor, then payment shall be made to the duly appointed and currently acting guardian of the estate for the minor or, if no guardian of the estate for the minor is duly appointed and currently acting within sixty (60) days after the date the amount becomes payable, payment shall be deposited with the court having jurisdiction over the estate of the minor.
7.3    Payments on Behalf of Persons Under Incapacity.  In the event that any amount becomes payable under the Plan to a person who, in the sole judgment of the Committee, is considered by reason of physical or mental condition to be unable to give a valid receipt therefore, the Committee may direct that such payment be made to any person found by the Committee, in its sole judgment, to have assumed the care of such person.  Any payment made pursuant to such determination shall constitute a full release and discharge of any and all liability of the Committee and the Company under the Plan.

ARTICLE VIII 
LEAVE OF ABSENCE
8.1    Paid Leave of Absence.  If a Participant is authorized by the Participant's Employer to take a paid leave of absence from the employment of the Employer, and such leave of absence does not constitute a Separation from Service, (a) the Participant shall continue to be considered eligible for the benefits provided under the Plan, and (b) deferrals shall continue to be withheld during such paid leave of absence in accordance with Article III.
8.2    Unpaid Leave of Absence.  If a Participant is authorized by the Participant's Employer to take an unpaid leave of absence from the employment of the Employer for any reason, and such leave of absence does not constitute a Separation from Service, such Participant shall continue to be eligible for the benefits provided under the Plan.  During the unpaid leave of absence, the Participant shall not be allowed to make any additional deferral elections.  However, if the Participant returns to employment, the Participant may elect to defer for the Plan Year following his or her return to employment and for every Plan Year thereafter while a Participant in the Plan, provided such deferral elections are otherwise allowed and a Participant Election is delivered to and accepted by the Committee for each such election in accordance with Article III above.
ARTICLE IX 
ADMINISTRATION
9.1    Committee.  The Plan shall be administered by a Committee appointed by the Board, which shall have the exclusive right and full discretion (a) to appoint agents to act on its behalf, (b) to select and establish Funds, (c) to interpret the Plan, (d) to decide any and all matters arising hereunder (including the right to remedy possible ambiguities, inconsistencies, or admissions), (e) to make, amend and rescind such rules as it deems necessary for the proper 

221

administration of the Plan and (f) to make all other determinations and resolve all questions of fact necessary or advisable for the administration of the Plan, including determinations regarding eligibility for benefits payable under the Plan.  All interpretations of the Committee with respect to any matter hereunder shall be final, conclusive and binding on all persons affected thereby.  No member of the Committee or agent thereof shall be liable for any determination, decision, or action made in good faith with respect to the Plan.  The Company will indemnify and hold harmless the members of the Committee and its agents from and against any and all liabilities, costs, and expenses incurred by such persons as a result of any act, or omission, in connection with the performance of such persons’ duties, responsibilities, and obligations under the Plan, other than such liabilities, costs, and expenses as may result from the bad faith, willful misconduct, or criminal acts of such persons.
9.2    Claims Procedure.  Any Participant, former Participant or Beneficiary may file a written claim with the Committee setting forth the nature of the benefit claimed, the amount thereof, and the basis for claiming entitlement to such benefit.  The Committee shall determine the validity of the claim and communicate a decision to the claimant promptly and, in any event, not later than ninety (90) days after the date of the claim.  The claim may be deemed by the claimant to have been denied for purposes of further review described below in the event a decision is not furnished to the claimant within such ninety (90) day period.  If additional information is necessary to make a determination on a claim, the claimant shall be advised of the need for such additional information within forty-five (45) days after the date of the claim.  The claimant shall have up to one hundred eighty (180) days to supplement the claim information, and the claimant shall be advised of the decision on the claim within forty-five (45) days after the earlier of the date the supplemental information is supplied or the end of the one hundred eighty (180) day period.  Every claim for benefits which is denied shall be denied by written notice setting forth in a manner calculated to be understood by the claimant (a) the specific reason or reasons for the denial, (b) specific reference to any provisions of the Plan (including any internal rules, guidelines, protocols, criteria, etc.) on which the denial is based, (c) description of any additional material or information that is necessary to process the claim, and (d) an explanation of the procedure for further reviewing the denial of the claim and shall include an explanation of the claimant’s right to submit the claim for binding arbitration in the event of an adverse determination on review.
9.3    Review Procedures.  Within sixty (60) days after the receipt of a denial on a claim, a claimant or his/her authorized representative may file a written request for review of such denial.  Such review shall be undertaken by the Committee and shall be a full and fair review. The claimant shall have the right to review all pertinent documents.  The Committee shall issue a decision not later than sixty (60) days after receipt of a request for review from a claimant unless special circumstances, such as the need to hold a hearing, require a longer period of time, in which case a decision shall be rendered as soon as possible but not later than one hundred twenty (120) days after receipt of the claimant’s request for review.  The decision on review shall be in writing and shall include specific reasons for the decision written in a manner calculated to be understood by the claimant with specific reference to any provisions of the Plan on which the decision is based and shall include an explanation of the claimant’s right to submit the claim for binding arbitration in the event of an adverse determination on review.
ARTICLE X 
MISCELLANEOUS
10.1    Termination of Plan.  Although each Employer anticipates that it will continue the Plan for an indefinite period of time, there is no guarantee that any Employer will continue the Plan or will not terminate the Plan at any time in the future.  Accordingly, each Employer reserves the right to terminate the Plan with respect to all of its Participants.  In the event of a Plan termination, no new deferral elections shall be permitted for the affected Participants and such Participants shall no longer be eligible to receive new Company Contributions.  However, after the Plan termination the Account balances of such Participants shall continue to be credited with deferrals attributable to any deferral election that was in effect prior to the Plan termination to the extent deemed necessary to comply with Code Section 409A and related Treasury Regulations, and additional amounts shall continue to be credited or debited to such Participants’ Account balances pursuant to Article IV.  In addition, following a Plan termination, Participant Account balances shall remain in the Plan and shall not be distributed until such amounts become eligible for distribution in accordance with the other applicable provisions of the Plan.  Notwithstanding the preceding sentence, to the extent permitted by Treas. Reg. §1.409A-3(j)(4)(ix) or as otherwise permitted under Code Section 409A, the Employer may provide that upon termination of the Plan, all Account balances of the Participants shall be distributed, subject to and in accordance with 

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any rules established by such Employer deemed necessary to comply with the applicable requirements and limitations of Code Section 409A.
10.2    Amendment.  Any Employer may, at any time, amend or modify the Plan in whole or in part with respect to that Employer.  Notwithstanding the foregoing, no amendment or modification shall be effective to decrease the value of a Participant's vested Account balance in existence at the time the amendment or modification is made.
10.3    Unsecured General Creditor.  The benefits paid under the Plan shall be paid from the general assets of the Company, and the Participant and any Beneficiary or their heirs or successors shall be no more than unsecured general creditors of the Company with no special or prior right to any assets of the Company for payment of any obligations hereunder.  It is the intention of the Company that this Plan be unfunded for purposes of ERISA and the Code.
10.4    Restriction Against Assignment. The Company shall pay all amounts payable hereunder only to the person or persons designated by the Plan and not to any other person or entity.  No part of a Participant’s Accounts shall be liable for the debts, contracts, or engagements of any Participant, Beneficiary, or their successors in interest, nor shall a Participant’s Accounts be subject to execution by levy, attachment, or garnishment or by any other legal or equitable proceeding, nor shall any such person have any right to alienate, anticipate, sell, transfer, commute, pledge, encumber, or assign any benefits or payments hereunder in any manner whatsoever.  No part of a Participant’s Accounts shall be subject to any right of offset against or reduction for any amount payable by the Participant or Beneficiary, whether to the Company or any other party, under any arrangement other than under the terms of this Plan.
10.5    Withholding. The Participant shall make appropriate arrangements with the Company for satisfaction of any federal, state or local income tax withholding requirements, Social Security and other employee tax or other requirements applicable to the granting, crediting, vesting or payment of benefits under the Plan. There shall be deducted from each payment made under the Plan or any other Compensation payable to the Participant (or Beneficiary) all taxes that are required to be withheld by the Company in respect to such payment or this Plan.  To the extent permissible under Code Section 409A, the Company shall have the right to reduce any payment (or other Compensation) by the amount of cash sufficient to provide the amount of said taxes.
10.6    Code Section 409A. The Company intends that the Plan comply with the requirements of Code Section 409A (and all applicable Treasury Regulations and other guidance issued thereunder) and shall be operated and interpreted consistent with that intent. Notwithstanding the foregoing, the Company makes no representation that the Plan complies with Code Section 409A. 
10.7    Receipt or Release.  Any payment made in good faith to a Participant or the Participant’s Beneficiary shall, to the extent thereof, be in full satisfaction of all claims against the Committee, its members, the Employer and the Company.  The Committee may require such Participant or Beneficiary, as a condition precedent to such payment, to execute a receipt and release to such effect.
10.8    Errors in Account Statements, Deferrals or Distributions.  In the event an error is made in an Account statement, such error shall be corrected on the next statement following the date such error is discovered.  In the event of an operational error, including, but not limited to, errors involving deferral amounts, overpayments or underpayments, such operational error shall be corrected in a manner consistent with and as permitted by any correction procedures established under Code Section 409A.  If any portion of a Participant’s Account(s) under this Plan is required to be included in income by the Participant prior to receipt due to a failure of this Plan to comply with the requirements of Code Section 409A, the Committee may determine that such Participant shall receive a distribution from the Plan in an amount equal to the lesser of (i) the portion of his or her Account required to be included in income as a result of the failure of the Plan to comply with the requirements of Code Section 409A, or (ii) the unpaid vested Account balance.
10.9    Domestic Relations Orders.  Notwithstanding any provision in this Plan to the contrary, in the event that the Committee receives a domestic relations order, as defined in Code Section 414(p)(1)(B), pursuant to which a court has determined that a spouse or former spouse of a Participant has an interest in the Participant’s benefits under the Plan, the Committee shall have the right to immediately distribute the spouse’s or former spouse’s interest in the Participant’s benefits under the Plan to such spouse or former spouse to the extent necessary to fulfill such domestic relations order, provided that such distribution is in accordance with the requirements of Code Section 409A.

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10.10    Employment Not Guaranteed.  Nothing contained in the Plan nor any action taken hereunder shall be construed as a contract of employment or as giving any Participant any right to continue the provision of services in any capacity whatsoever to the Employer.
10.11    No Guarantee of Tax Consequences.  The Employer, Company, Board and Committee make no commitment or guarantee to any Participant that any federal, state or local tax treatment will apply or be available to any person eligible for benefits under the Plan and assume no liability whatsoever for the tax consequences to any Participant.
10.12    Successors of the Company.  The rights and obligations of the Company under the Plan shall inure to the benefit of, and shall be binding upon, the successors and assigns of the Company.
10.13    Notice.  Any notice or filing required or permitted to be given to the Company or the Participant under this Agreement shall be sufficient if in writing and hand-delivered, or sent by registered or certified mail, in the case of the Company, to the principal office of the Company, directed to the attention of the Committee, and in the case of the Participant, to the last known address of the Participant indicated on the employment records of the Company.  Such notice shall be deemed given as of the date of delivery or, if delivery is made by mail, as of the date shown on the postmark on the receipt for registration or certification.  Notices to the Company may be permitted by electronic communication according to specifications established by the Committee.
10.14    Headings.  Headings and subheadings in this Plan are inserted for convenience of reference only and are not to be considered in the construction of the provisions hereof.
10.15    Gender, Singular and Plural.  All pronouns and any variations thereof shall be deemed to refer to the masculine, feminine, or neuter, as the identity of the person or persons may require.  As the context may require, the singular may be read as the plural and the plural as the singular.
10.16    Governing Law.  The Plan is intended to be an unfunded plan maintained primarily to provide deferred compensation benefits for a select group of “management or highly compensated employees” within the meaning of Sections 201, 301 and 401 of ERISA and therefore to be exempt from Parts 2, 3 and 4 of Title I of ERISA.  In the event any provision of, or legal issue relating to, this Plan is not fully preempted by federal law, such issue or provision shall be governed by the laws of the State of Florida.
10.17    Entire Agreement.  Unless specifically indicated otherwise, this Plan supersedes any and all prior communications understandings, arrangements or agreements between the parties, including the Employer, the Company, the Board, the Committee and any and all Participants, whether written, oral, express or implied relating thereto.
10.18    Binding Arbitration.  Any claim, dispute or other matter in question of any kind relating to this Plan which is not resolved by the claims procedures under this Plan shall be settled by arbitration in accordance with the applicable employment dispute resolution rules of the American Arbitration Association.  Notice of demand for arbitration shall be made in writing to the opposing party and to the American Arbitration Association within a reasonable time after the claim, dispute or other matter in question has arisen.  In no event shall a demand for arbitration be made after the date when the applicable statute of limitations would bar the institution of a legal or equitable proceeding based on such claim, dispute or other matter in question.  The decision of the arbitrators shall be final and may be enforced in any court of competent jurisdiction.  The arbitrators may award reasonable fees and expenses to the prevailing party in any dispute hereunder and shall award reasonable fees and expenses in the event that the arbitrators find that the losing party acted in bad faith or with intent to harass, hinder or delay the prevailing party in the exercise of its rights in connection with the matter under dispute.

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IN WITNESS WHEREOF, the Company has caused this Amended and Restated Voluntary Deferred Compensation Plan to be executed by its duly authorized representative this 23rd day of February, 2016.

Raymond James Financial, Inc.
By     /s/ Jeffrey P. Julien    
Name:    Jeffrey P. Julien
		
	Title
	EVP – Finance, Chief Financial Officer and Treasurer

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