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Exhibit 10.2  

FOUR STAMFORD PLAZA

STAMFORD, CONNECTICUT  

  

  

  

   

OFFICE LEASE AGREEMENT  

BETWEEN 

CT-FOUR STAMFORD PLAZA, L.L.C., a Delaware limited liability company
  ("LANDLORD") 

AND 

INFORMATION SERVICES GROUP, INC., a Delaware corporation
  ("TENANT") 

 
 

TABLE OF CONTENTS    
    

	1.	 	Basic Lease Information	 	1
	2.	 	Lease Grant	 	3
	3.	 	Adjustment of Commencement Date; Possession	 	3
	4.	 	Rent	 	4
	5.	 	Compliance with Laws; Use	 	5
	6.	 	Security Deposit	 	5
	7.	 	Building Services	 	5
	8.	 	Leasehold Improvements	 	6
	9.	 	Repairs and Alterations	 	6
	10.	 	Entry by Landlord	 	7
	11.	 	Assignment and Subletting	 	8
	12.	 	Liens	 	9
	13.	 	Indemnity and Waiver of Claims	 	9
	14.	 	Insurance	 	9
	15.	 	Subrogation	 	10
	16.	 	Casualty Damage	 	10
	17.	 	Condemnation	 	11
	18.	 	Events of Default	 	11
	19.	 	Remedies	 	12
	20.	 	Limitation of Liability	 	12
	21.	 	Relocation	 	13
	22.	 	Holding Over	 	13
	23.	 	Subordination to Mortgages; Estoppel Certificate	 	13
	24.	 	Notice	 	13
	25.	 	Surrender of Premises	 	14
	26.	 	Miscellaneous	 	14

  

 
 

OFFICE LEASE AGREEMENT    
    

        THIS OFFICE LEASE AGREEMENT (the "Lease") is made and entered into
as of this      day of                        , 2006, by and between CT-FOUR
STAMFORD PLAZA, L.L.C., a Delaware limited liability company
("Landlord") and INFORMATION SERVICES GROUP, INC., a Delaware corporation
("Tenant"). The following exhibits and attachments are incorporated into and made a part of the Lease:  Exhibit A (Outline and Location of Premises),
Exhibit B(Expenses and Taxes),  Exhibit C (Work Letter), Exhibit D (Commencement Letter),
 Exhibit E (Building Rules and Regulations), and Exhibit F (Additional Provisions). 

1.    Basic Lease Information.    

	1.01
	"Building" shall mean the building located at 107 Elm Street, Stamford. Connecticut 06902, and commonly known as Four Stamford Plaza.
"Rentable Square Footage of the Building" is deemed to be 260,584 square feet.

	1.02
	"Premises" shall mean the area shown on Exhibit A to this Lease. The Premises
is located on the 5th floor and known as suite number 512. If the Premises include one or more floors in their entirety, all corridors and restroom
facilities located on such full floor(s) shall be considered part of the Premises. The "Rentable Square Footage of the Premises" is deemed to be  3,401
square feet. Landlord and Tenant stipulate and agree that the Rentable Square Footage of the Building and the Rentable Square Footage of the
Premises are correct.

	1.03
	"Base Rent": 

	Period or Month of Term
 
	 	Annual Rate

Per Square Foot
	 	Monthly

Base Rate

	01 - 12	 	$36.00	 	$10,203.00

	1.04
	"Tenant's Pro Rata Share": 1.3051%.

	1.05
	"Base Year" for Taxes (defined in Exhibit B): 2007;
"Base Year" for Expenses (defined in Exhibit B): 2007.

	1.06
	"Term": A period of 12 months. Subject to Section 3, the Term shall commence on October 1, 2006 (the
"Commencement Date") and, unless terminated early in accordance with this Lease, end on September 30, 2007 (the
"Termination Date").

	1.07
	"Renewal Options": Tenant shall have two 6 month Renewal Options, as more fully described in Sections 2 and 3 of  Exhibit F.

	1.08
	Allowance:
None.

	1.09
	"Security Deposit": $10,203.00, as more fully described in Section 6.

	1.10
	"Guarantor": None.

	1.11
	"Broker": None.

	1.12
	"Permitted Use": General office use. 

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	1.13
	"Notice Address(es)": 

	 	 	Landlord:

CT-Four Stamford Plaza, L.LC.

c/o Equity Office

281 Tresser Boulevard, 4th Floor

Stamford, Connecticut 06901-3264

Attention: Property Manager	 	Tenant:

Prior to the Commencement Date:

MPC Investment

725 Oenoke Ridge

New Canann, Connecticut 06840

Attention: Mike Connors
	

 	
 	

 	
 	

From and after the Commencement Date:
	

 	
 	

 	
 	

To Tenant at the Premises

Attention: Mike Connors

A
copy of any notices to Landlord shall be sent to Equity Office, Two North Riverside Plaza, Suite 2100, Chicago, IL 60606, Attn: New York Regional Counsel. 

	1.14
	"Business Day(s)" are Monday through Friday of each week, exclusive of New Year's Day, Presidents Day, Memorial Day, Independence Day,
Labor Day, Thanksgiving Day and Christmas Day ("Holidays"). Landlord may designate additional Holidays that are commonly recognized by other office
buildings in the area where the Building is located. "Building Service Hours" are 8:00 A.M. to 6:00 P.M. on Business Days.

	1.15
	"Landlord Work" means the work that Landlord is obligated to perform in the Premises pursuant to a separate agreement (the
"Work Letter") attached to this Lease as  Exhibit C.

	1.16
	"Property" means the Building and the parcel(s) of land on which it is located and, at Landlord's discretion, the parking facilities
and other Improvements, if any, serving the Building and the parcel(s) of land on which they are located.

	1.17
	Notwithstanding
anything to the contrary contained in Section 7.02 of this Lease, all electricity consumed by Tenant in the Premises shall be paid for by Tenant as Additional
Rent in accordance with the terms of this Lease. During each calendar year, or portion thereof, falling within the Term, Tenant shall pay to Landlord a Premises Electric Charge (hereinafter defined)
of $2.04 per square foot per annum (i.e. assuming 3,401 square feet, the Premises Electric Charge would be $578.17 per month/$6,938.04 per annum). The Premises Electric Charge may be adjusted from
time to time as provided hereinafter, provided, however that in no event shall the Premises Electric Charge be reduced below the annual per square foot amount stated above. For the purposes of this
Lease, the term "Premises Electric Charge" shall mean the amount determined by applying the estimated connected electrical load and usage thereof in the
Premises (as initially estimated by Landlord or thereafter determined by the electrical consultant) to the rate charged for such load and usage in the service classification in effect from time to
time pursuant to which Landlord then purchased electric current for the entire Building. If the cost to Landlord of electricity shall have been, or shall be, increased subsequent to the Commencement
Date (whether by change in Landlord's electric rates, charges, fuel adjustment, or service classification, or by taxes or charges of any kind imposed thereon, or for any other such reason), then the
Premises Electric Charge shall be increased in the same percentage. Landlord's electrical consultant may from time to time conduct surveys in the Premises covering the electrical equipment and
fixtures and use of current therein, and, based upon such surveys, may adjust the Premises Electric Charge in accordance with Tenant's actual electrical usage. Electrical service to the Premises may
be furnished by one or more companies providing electrical generation, transmission and distribution services, and the cost of electricity may consist of several different components or separate
charges for such services, such as generation, distribution and stranded cost charges. 

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Landlord
shall have the exclusive right to select any company providing electrical service to the Premises, to aggregate the electrical service for the Property and Premises with other buildings, to
purchase electricity through a broker and/or buyers group and to change the providers and manner of purchasing electricity. Landlord shall be entitled to receive a fee (if permitted by Law) for the
selection of utility companies and the negotiation and administration of contracts for electricity, provided that the amount of such fee shall not exceed 50% of any savings obtained by Landlord. 

2.    Lease Grant.    

        The
Premises are hereby leased to Tenant from Landlord, together with the right to use any portions of the Property that are designated by Landlord for the common use of tenants and
others (the "Common Areas"). 

3.    Adjustment of Commencement Date; Possession.    

        3.01    If
Landlord is required to perform Landlord Work prior to the Commencement Date: (a) the date set forth in Section 1.06 as the Commencement Date shall
instead be defined as the "Target Commencement Date"; (b) the actual Commencement Date shall be the date on which the Landlord
Work is Substantially Complete (defined below); and (c) the Termination Date will be the last day of the Term as determined based upon the actual Commencement Date. Landlord's failure to
Substantially Complete the Landlord Work by the Target Commencement Date shall not be a default by Landlord or otherwise render Landlord liable for damages. Promptly after the determination of the
Commencement Date, Landlord and Tenant shall enter into a commencement letter agreement in the form attached as Exhibit D. Tenant's failure to
execute and return the commencement letter, or to provide written objection to the statements contained in the letter, within 30 days after the date of the letter shall be deemed an approval by
Tenant of the statements contained therein. If the Termination Date does not fall on the last day of a calendar month, Landlord and Tenant may elect to adjust the Termination Date to the last day of
the calendar month in which the Termination Date occurs by the mutual execution of a commencement letter agreement setting forth such adjusted date. The Landlord Work shall be deemed to be
"Substantially Complete" on the date that all Landlord Work has been performed, other than any details of construction, mechanical adjustment or any
other similar matter, the non-completion of which does not materially interfere with Tenant's use of the Premises. Landlord shall notify Tenant of the date that Landlord's Work is
Substantially Complete. If Landlord is delayed in the performance of the Landlord Work as a result of the acts or omissions of Tenant, the Tenant Related Parties (defined in Section 13) or
their respective contractors or vendors, including, without limitation, changes requested by Tenant to approved plans, Tenant's failure to comply with any of its obligations under this Lease, or the
specification of any materials or equipment with long lead times (a "Tenant Delay"), the Landlord Work shall be deemed to be Substantially Complete on
the date that Landlord could reasonably have been expected to Substantially Complete the Landlord Work absent any Tenant Delay. 

        3.02    Subject
to Landlord's obligation, if any, to perform Landlord Work, the Premises are accepted by Tenant in "as is" condition and configuration without any
representations or warranties by Landlord. By taking possession of the Premises, Tenant agrees that the Premises are in good order and satisfactory condition. Notwithstanding the foregoing, Landlord
shall be responsible for latent defects in the Landlord Work of which Tenant notifies Landlord to the extent that the correction of such defects is covered under valid and enforceable warranties given
Landlord by contractors or subcontractors performing the Landlord Work pursuant to a contract with Landlord. Landlord, at its option, may pursue such claims directly or assign any such warranties to
Tenant for enforcement. Landlord shall not be liable for a failure to deliver possession of the Premises or any other space due to the holdover or unlawful possession of such space by another party,
however Landlord shall use reasonable efforts to obtain possession of the space. The commencement date for the space, in such event, shall be 

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postponed
until the date Landlord delivers possession of the Premises to Tenant free from occupancy by any party. If Tenant takes possession of the Premises before the Commencement Date, such
possession shall be subject to the terms and conditions of this Lease and Tenant shall pay Rent (defined in Section 4.01) to Landlord for each day of possession before the Commencement Date.
However, except for the cost of services requested by Tenant (e.g. freight elevator usage), Tenant shall not be required to pay Rent for any days of possession before the Commencement Date during
which Tenant, with the approval of Landlord, is in possession of the Premises for the sole purpose of performing improvements or installing furniture, equipment or other personal property. 

        3.03    Notwithstanding
the foregoing, if the Commencement Date has not occurred on or before the Required Completion Date (defined below), Tenant, as its sole remedy, may
terminate this Lease by
giving Landlord written notice of termination on or before the earlier to occur of: (i) 5 Business Days after the Required Completion Date; and (ii) the Commencement Date. In such event,
this Lease shall be deemed null and void and of no further force and effect and Landlord shall promptly refund any prepaid rent and Security Deposit previously advanced by Tenant under this Lease and,
so long as Tenant has not previously defaulted under any of its obligations under the Work Letter, the parties hereto shall have no further responsibilities or obligations to each other with respect
to this Lease. The "Required Completion Date" shall mean November 1, 2006. Landlord and Tenant acknowledge and agree that: (i) the determination of the Commencement Date shall take into
consideration the effect of any Tenant Delays; and (ii) the Required Completion Date shall be postponed by the number of days the Commencement Date is delayed due to events of Force Majeure.
Notwithstanding anything herein to the contrary, if Landlord determines in good faith that it will be unable to cause the Commencement Date to occur by the Required Completion Date, Landlord shall
have the right to immediately cease its performance of the Landlord Work and provide Tenant with written notice (the "Completion Date Extension Notice")
of such inability, which Completion Date Extension Notice shall set forth the date on which Landlord reasonably believes that the Commencement Date will occur. Upon receipt of the Completion Date
Extension Notice, Tenant shall have the right to terminate this Lease by providing written notice of termination to Landlord within 5 Business Days after the date of the Completion Date Extension
Notice. If Tenant does not terminate this Lease within such 5 Business Day period, the Required Completion Date automatically shall be amended to be the date set forth in Landlord's Completion Date
Extension Notice. 

4.    Rent.    

        4.01    Tenant
shall pay Landlord, without any setoff or deduction, unless expressly set forth in this Lease, all Base Rent and Additional Rent due for the Term (collectively
referred to as "Rent"). "Additional Rent" means all sums (exclusive of Base Rent) that Tenant is
required to pay Landlord under this Lease. Tenant shall pay and be liable for all rental, sales and use taxes (but excluding Income taxes), if any, imposed upon or measured by Rent. Base Rent and
recurring monthly charges of Additional Rent shall be due and payable in advance on the first day of each calendar month without notice or demand, provided that the installment of Base Rent for the
first full calendar month of the Term, and the first monthly installment of Additional Rent for Expenses and Taxes, shall be payable upon the execution of this Lease by Tenant. All other items of Rent
shall be due and payable by Tenant on or before 30 days after billing by Landlord. Rent shall be made payable to the entity, and sent to the address, Landlord designates and shall be made by
good and sufficient check or by other means acceptable to Landlord. Tenant shall pay Landlord an administration fee equal to 5% of all past due Rent, provided that Tenant shall be entitled to a grace
period of 5 days for the first 2 late payments of Rent in a calendar year. In addition, past due Rent shall accrue interest at 12% per annum. Landlord's acceptance of less than the correct
amount of Rent shall be considered a payment on account of the earliest Rent due. Rent for any partial month during the Term shall be prorated. No endorsement or statement on a check or letter
accompanying payment shall be considered an accord and satisfaction. Tenant's covenant to pay Rent is independent of every other covenant in this Lease. 

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        4.02    Tenant
shall pay Tenant's Pro Rata Share of Taxes and Expenses in accordance with Exhibit B of this Lease. 

5.    Compliance with Laws; Use.    

        The
Premises shall be used for the Permitted Use and for no other use whatsoever. Tenant shall comply with all statutes, codes, ordinances, orders, rules and regulations of any municipal
or governmental entity whether in effect now or later, including the Americans with Disabilities Act ("Law(s)"), regarding the operation of Tenant's
business and the use, condition, configuration and occupancy of the Premises. In addition, Tenant shall, at its sole cost and expense, promptly comply with any Laws that relate to the "Base Building"
(defined below), but only to the extent such obligations are triggered by Tenant's use of the Premises, other than for general office use, or Alterations or improvements in the Premises performed or
requested by Tenant. "Base Building" shall include the structural portions of the Building, the public restrooms and the Building mechanical, electrical
and plumbing systems and equipment located in the internal core of the Building on the floor or floors on which the Premises are located. Tenant shall promptly provide Landlord with copies of any
notices it receives regarding an alleged violation of Law. Tenant shall comply with the rules and regulations of the Building attached as  Exhibit E and such other reasonable rules and regulations
adopted by Landlord from time to time, including rules and regulations for the
performance of Alterations (defined in Section 9). 

6.    Security Deposit.    

        The
Security Deposit shall be delivered to Landlord upon the execution of this Lease by Tenant and held by Landlord without liability for interest (unless required by Law) as security
for the performance of Tenant's obligations. The Security Deposit is not an advance payment of Rent or a measure of damages. Landlord may use all or a portion of the Security Deposit to satisfy past
due Rent or to cure any Default (defined in Section 18) by Tenant, or to satisfy any other loss or damage resulting from Tenant's Default as provided in Section 19. If Landlord uses any
portion of the Security Deposit, Tenant shall, within 5 Business Days after demand, restore the Security Deposit to its original amount. Landlord shall return any unapplied portion of the Security
Deposit to Tenant within 45 days after the later to occur of: (a) determination of the final Rent due from Tenant; or (b) the later to occur of the Termination Date or the date
Tenant surrenders the Premises to Landlord in compliance with Section 25. Landlord may assign the Security Deposit to a successor or transferee and, following the assignment, Landlord shall
have no further liability for the return of the Security Deposit. Landlord shall not be required to keep the Security Deposit separate from its other accounts. 

7.    Building Services.    

        7.01    Landlord
shall furnish Tenant with the following services: (a) water for use in the Base Building lavatories; (b) customary heat and air conditioning in
season during Building Service Hours, although Tenant shall have the right to receive HVAC service during hours other than Building Service Hours by paying Landlord's then standard charge for
additional HVAC service and providing such prior notice as
is reasonably specified by Landlord. (As of the date hereof, Landlord's charge for after hours heating and air conditioning service is $85.00 per hour per floor, subject to change from time to time;
the minimum period of time for which Tenant may request after hours HVAC service is 2 hours and such request must be made by Tenant to Landlord no later than 12:00 p.m. for after-hours
HVAC service requested for the same day or 24 hours in advance for after-hours HVAC service requested for the weekend); (c) standard janitorial service on Business Days;
(d) elevator service; (e) electricity in accordance with the terms and conditions in Section 7.02; (f) access to the Building for Tenant and its employees 24 hours
per day/7 days per week, subject to the terms of this Lease and such protective services or monitoring systems, if any, as Landlord may reasonably impose, including, without limitation,
sign-in procedures and/or presentation of identification cards; and (g) such other services as Landlord reasonably determines are necessary or appropriate for the Property. 

5

   
        7.02    Electricity used by Tenant in the Premises shall, at Landlord's option, be paid for by Tenant either: (a) through inclusion in Expenses (except as provided for
excess usage); (b) by a separate charge payable by Tenant to Landlord; or (c) by separate charge billed by the applicable utility company and payable directly by Tenant. Without the
consent of Landlord, Tenant's use of electrical service shall not exceed, either in voltage, rated capacity, use beyond Building Service Hours or overall load, that which Landlord reasonably deems to
be standard for the Building. Landlord shall have the right to measure electrical usage by commonly accepted methods, including the installation of measuring devices such as submeters and check
meters. If it is determined that Tenant is using excess electricity, Tenant shall pay Landlord Additional Rent for the cost of such excess electrical usage and for the cost of purchasing and
installing the measuring device(s). 

        7.03    Landlord's
failure to furnish, or any interruption, diminishment or termination of services due to the application of Laws, the failure of any equipment, the
performance of repairs, improvements or alterations, utility interruptions or the occurrence of an event of Force Majeure (defined in Section 26.03) (collectively a
"Service Failure") shall not render Landlord liable to Tenant, constitute a constructive eviction of Tenant, give rise to an abatement of Rent, nor
relieve Tenant from the obligation to fulfill any covenant or agreement. However, if the Premises, or a material portion of the Premises, are made untenantable for a period in excess of 3 consecutive
Business Days, as a result of a Service Failure that is reasonably within the control of Landlord to correct, then Tenant, as its sole remedy, shall be entitled to receive an abatement of Rent payable
hereunder during the period beginning on the 4th consecutive Business Day of the Service Failure and ending on the day the service has been restored. If the entire Premises have not been rendered
untenantable by the Service Failure, the amount of abatement shall be equitably prorated. 

8.    Leasehold Improvements.    

        All
improvements in and to the Premises, including any Alterations (defined in Section 9.03) (collectively, "Leasehold
Improvements") shall remain upon the Premises at the end of the Term without compensation to Tenant, provided that Tenant, at its expense, in compliance with the National
Electric Code or other applicable Law, shall remove any Cable (defined in Section 9.01 below). In addition, Landlord, by written notice to Tenant at least 30 days prior to the
Termination Date, may require Tenant, at its expense, to remove any Landlord Work or Alterations that, in Landlord's reasonable judgment, are of a nature that would require removal and repair costs
that are materially in excess of the removal and repair costs associated with standard office improvements (the Cable and such other items collectively are referred to as
"Required Removables"). Required Removables shall include, without limitation, internal stairways,
raised floors, personal baths and showers, vaults, rolling file systems and structural alterations and modifications. The Required Removables shall be removed by Tenant before the Termination Date.
Tenant shall repair damage caused by the installation or removal of Required Removables. If Tenant fails to perform its obligations in a timely manner, Landlord may perform such work at Tenant's
expense. Tenant, at the time it requests approval for a
proposed Alteration, including any Initial Alterations or Landlord Work, as such terms may be defined in the Work Letter attached as Exhibit C,
may request in writing that Landlord advise Tenant whether the Alteration, including any Initial Alterations or Landlord Work, or any portion thereof, is a Required Removable. Notwithstanding the
foregoing, Tenant shall not be required to remove any portion of the Landlord Work shown on the Plans as of the date of this Lease. Within 10 days after receipt of Tenant's request, Landlord
shall advise Tenant in writing as to which portions of the alteration or other improvements are Required Removables. 

9.    Repairs and Alterations.    

        9.01    Tenant
shall periodically inspect the Premises to identify any conditions that are dangerous or in need of maintenance or repair. Tenant shall promptly provide Landlord
with notice of any such conditions. Tenant shall, at its sole cost and expense, perform all maintenance and repairs to the 

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Premises
that are not Landlord's express responsibility under this Lease, and keep the Premises in good condition and repair, reasonable wear and tear excepted. Tenant's repair and maintenance
obligations include, without limitation, repairs to: (a) floor covering; (b) interior partitions; (c) doors; (d)the interior side of demising walls; (e) electronic, fiber,
phone and data cabling and related equipment that is installed by or for the exclusive benefit of Tenant (collectively, "Cable");
(f) supplemental air conditioning units, kitchens, including hot water heaters, plumbing, and similar facilities exclusively serving Tenant; and (g) Alterations. Subject to the terms of
Section 15 below, to the extent Landlord is not reimbursed by insurance proceeds, Tenant shall reimburse Landlord for the cost of repairing damage to the Building caused by the acts of Tenant,
Tenant Related Parties and their respective contractors and vendors. If Tenant fails to make any repairs to the Premises for more than 15 days after notice from Landlord (although notice shall
not be required in an emergency), Landlord may make the repairs, and Tenant shall pay the reasonable cost of the repairs, together with an administrative charge in an amount equal to 10% of the cost
of the repairs. 

        9.02    Landlord
shall keep and maintain in good repair and working order and perform maintenance upon the: (a) structural elements of the Building;
(b) mechanical (including HVAC), electrical, plumbing and fire/life safety systems serving the Building in general; (c) Common Areas; (d) roof of the Building; (e) exterior
windows of the Building; and (f) elevators serving the Building. Landlord shall promptly make repairs for which Landlord is responsible. 

        9.03    Tenant
shall not make alterations, repairs, additions or improvements or install any Cable (collectively referred to as
"Alterations") without first obtaining the written consent of Landlord in each instance, which consent shall not be unreasonably withheld or delayed.
However, Landlord's consent shall not be required for any Alteration that satisfies all of the following criteria (a "Cosmetic Alteration"):
(a) is of a cosmetic nature such as painting, wallpapering, hanging pictures and installing carpeting; (b) is not visible from the exterior of the Premises or Building; (c) will
not affect the Base Building; and (d) does not require work to be performed inside the walls or above the ceiling of the Premises. Cosmetic Alterations shall be subject to all the other
provisions of this Section 9.03. Prior to
starting work. Tenant shall furnish Landlord with plans and specifications; names of contractors reasonably acceptable to Landlord (provided that Landlord may designate specific contractors with
respect to Base Building); required permits and approvals; evidence of contractor's and subcontractor's insurance in amounts reasonably required by Landlord and naming Landlord as an additional
insured; and any security for performance in amounts reasonably required by Landlord. Changes to the plans and specifications must also be submitted to Landlord for its approval. Alterations shall be
constructed in a good and workmanlike manner using materials of a quality reasonably approved by Landlord. Tenant shall reimburse Landlord for any sums paid by Landlord for third party examination of
Tenant's plans for non-Cosmetic Alterations. In addition. Tenant shall pay Landlord a fee for Landlord's oversight and coordination of any non-Cosmetic Alterations equal to 10%
of the cost of the non-Cosmetic Alterations. Upon completion, Tenant shall furnish "as-built" plans for non-Cosmetic Alterations, completion affidavits and full and
final waivers of lien. Landlord's approval of an Alteration shall not be deemed a representation by Landlord that the Alteration complies with Law. 

10.    Entry by Landlord.    

        Landlord
may enter the Premises to inspect, show or clean the Premises or to perform or facilitate the performance of repairs, alterations or additions to the Premises or any portion of
the Building. Except in emergencies or to provide Building services, Landlord shall provide Tenant with reasonable prior verbal notice of entry and shall use reasonable efforts to minimize any
interference with Tenant's use of the Premises. If reasonably necessary, Landlord may temporarily close all or a portion of the Premises to perform repairs, alterations and additions. However, except
in emergencies, Landlord will not close the Premises if the work can reasonably be completed on weekends and after Building Service Hours. Entry by Landlord shall not constitute a constructive
eviction or entitle Tenant to an abatement or reduction of Rent. 

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11.    Assignment and Subletting.    

        11.01    Except
in connection with a Business Transfer (defined in Section 11.04), Tenant shall not assign, sublease, transfer or encumber any interest in this Lease or
allow any third party to use any portion of the Premises (collectively or individually, a "Transfer") without the prior written consent of Landlord,
which consent shall not be unreasonably withheld, conditioned or delayed if Landlord does not exercise its recapture rights under Section 11.02. If the entity(ies) which directly or indirectly
controls the voting shares/rights of Tenant changes at any time, such change of ownership or control shall constitute a Transfer unless Tenant is an entity whose outstanding stock is listed on a
recognized securities exchange or if at least 80% of its voting stock is owned by another entity, the voting stock of which is so listed. Any Transfer in violation of this Section shall, at Landlord's
option, be deemed a Default by Tenant as described in Section 18, and shall be voidable by Landlord. In no event shall any Transfer, including a Business Transfer, release or relieve Tenant
from any obligation under this Lease, and Tenant shall remain primarily liable for the performance of the tenant's obligations under this Lease, as amended from time to time. 

        11.02    Tenant
shall provide Landlord with financial statements for the proposed transferee, a fully executed copy of the proposed assignment, sublease or other Transfer
documentation and such other information as Landlord may reasonably request. Within 15 Business Days after receipt of the required information and documentation, Landlord shall either:
(a) consent to the Transfer by execution of a consent agreement in a form reasonably designated by Landlord; (b) reasonably refuse to consent to the Transfer in writing; or (c) in
the event of an assignment of this Lease or subletting of more than 20% of the Rentable Square Footage of the Premises for more than 50% of the remaining Term (excluding unexercised options),
recapture the portion of the Premises that Tenant is proposing to Transfer. If Landlord exercises its right to recapture, this Lease shall automatically be amended (or terminated if the entire
Premises is being assigned or sublet) to delete the applicable portion of the Premises effective on the proposed effective date of the Transfer, although Landlord may require Tenant to execute a
reasonable amendment or other document reflecting such reduction or termination. Tenant shall pay Landlord a review fee of $1,500.00 for Landlord's review of any requested Transfer. 

        11.03    Tenant
shall pay Landlord 50% of all rent and other consideration which Tenant receives as a result of a Transfer that is in excess of the Rent payable to Landlord for
the portion of the Premises and Term covered by the Transfer. Tenant shall pay Landlord for Landlord's share of the excess within 30 days after Tenant's receipt of the excess. Tenant may deduct
from the excess, in accordance with generally accepted accounting procedures, all reasonable and customary expenses directly incurred by Tenant attributable to the Transfer. If Tenant is in Default,
Landlord may require that all sublease payments be made directly to Landlord, in which case Tenant shall receive a credit against Rent in the amount of Tenant's share of payments received by Landlord. 

        11.04    Tenant
may assign this Lease to a successor to Tenant by merger, consolidation or the purchase of substantially all of Tenant's assets, or assign this Lease or sublet
all or a portion of the Premises to an Affiliate (defined below), without the consent of Landlord, provided that all of the following conditions are satisfied (a "Business
Transfer"): (a) Tenant must not be in Default; (b) Tenant must give Landlord written notice at least 15 Business Days before such Transfer; and (c) if such
Transfer will result from a merger or consolidation of Tenant with another entity, then the Credit Requirement (defined below) must be satisfied. Tenant's notice to Landlord shall include information
and documentation evidencing the Business Transfer and showing that each of the above conditions has been satisfied. If requested by Landlord, Tenant's successor shall sign a commercially reasonable
form of assumption agreement, "Affiliate" shall mean an entity controlled by, controlling or under common control with Tenant. The
"Credit Requirement" shall be deemed satisfied if, as of the date immediately preceding the date of the Transfer, the financial strength of the entity
with which Tenant is to merge or consolidate is not less than that of Tenant, as determined (x) based on credit ratings of such entity and Tenant by both Moody's and Standard & Poor's
(or by either such agency alone, if applicable ratings by 

8

 

the
other agency do not exist), or (y) if such credit ratings do not exist, then in accordance with Moody's KMV RiskCalc (i.e., the on-line software tool offered by Moody's for
analyzing credit risk) based on CFO-certified financial statements for such entity and Tenant covering their last two fiscal years ending before the Transfer. 

12.    Liens.    

        Tenant
shall not permit mechanics' or other liens to be placed upon the Property, Premises or Tenant's leasehold interest in connection with any work or service done or purportedly done
by or for the benefit of Tenant or its transferees. Tenant shall give Landlord notice at least 15 days prior to the commencement of any work in the Premises to afford Landlord the opportunity,
where applicable, to post and record notices of non-responsibility. Tenant, within 15 Business Days of notice from Landlord, shall fully discharge any lien by settlement, by bonding or by
insuring over the lien in the manner prescribed by the applicable lien Law and, if Tenant fails to do so, Tenant shall be deemed in Default under this Lease and, in addition to any other remedies
available to Landlord as a result of such Default by Tenant, Landlord, at its option, may bond, insure over or otherwise discharge the lien. Tenant shall reimburse Landlord for any amount paid by
Landlord, including, without limitation, reasonable attorneys' fees. 

13.    Indemnity and Waiver of Claims.    

        Except
to the extent caused by the negligence or willful misconduct of Landlord or any Landlord Related Parties (defined below), Tenant shall indemnify, defend and hold Landlord and
Landlord Related Parties harmless against and from all liabilities, obligations, damages, penalties, claims, actions, costs, charges and expenses, including, without limitation, reasonable attorneys'
fees and other professional fees (if and to the extent permitted by Law) (collectively referred to as "Losses"), which may be imposed upon, incurred by
or asserted against Landlord or any of the Landlord Related Parties by any third party and arising out of or in connection with any damage or injury occurring in the Premises or any acts or omissions
(including violations of Law) of Tenant, the Tenant Related Parties (defined below) or any of Tenant's transferees, contractors or licensees. Except to the extent caused by the negligence or willful
misconduct of Tenant or any Tenant Related Parties, Landlord shall indemnify, defend and hold Tenant, its trustees, members, principals, beneficiaries, partners, officers, directors, employees and
agents ("Tenant Related Parties") harmless against and from all Losses which may be imposed upon, incurred by or asserted against Tenant or any of the
Tenant Related Parties by any third party and arising out of or in connection with the acts or omissions (including violations of Law) of Landlord or the Landlord Related Parties. Tenant hereby waives
all claims against and releases Landlord and its trustees, members, principals, beneficiaries, partners, officers, directors, employees, Mortgagees (defined in Section 23) and agents (the
"Landlord Related Parties") from all claims for any injury to or death of persons, damage to property or business loss in any manner related to
(a) Force Majeure, (b) acts of third parties, (c) the bursting or leaking of any tank, water closet, drain or other pipe, (d) the inadequacy or failure of any security or
protective services, personnel or equipment, or (e) any matter not within the reasonable control of Landlord. 

14.    Insurance.    

        Tenant
shall maintain the following insurance ("Tenant's Insurance"): (a) Commercial General Liability Insurance applicable to the
Premises and its appurtenances providing, on an occurrence basis, a minimum combined single limit of $2,000,000.00; (b) Property/Business Interruption Insurance written on an All Risk or
Special Cause of Loss Form, including sprinkler leakage, at replacement cost value and with a replacement cost endorsement covering all of Tenant's business and trade fixtures, equipment, movable
partitions, furniture, merchandise and other personal property within the Premises ("Tenant's Property") and any Leasehold Improvements performed by or
for the benefit of Tenant; (c) Workers' Compensation Insurance in amounts required by Law; and (d) Employers Liability Coverage of at least $1,000,000.00 per occurrence. Any company
writing Tenant's Insurance shall have 

9

 

an A.M.
Best rating of not less than A-VIII. All Commercial General Liability Insurance policies shall name as additional insureds Landlord (or its successors and assignees), the
managing agent for the Building (or any successor), EOP Operating Limited Partnership, Equity Office Properties Trust and their respective members, principals, beneficiaries, partners, officers,
directors, employees, and agents, and other designees of Landlord and its successors as the interest of such designees shall appear. In addition, Landlord shall be named as a loss payee with respect
to Property/Business Interruption Insurance on the Leasehold Improvements. All policies of Tenant's Insurance shall contain endorsements that the insurer(s) shall give Landlord and its designees at
least 30 days' advance written notice of any cancellation, termination, material change or lapse of insurance. Tenant shall provide Landlord with a certificate of insurance evidencing Tenant's
Insurance prior to the earlier to occur of the Commencement Date or the date Tenant is provided with possession of the Premises, and thereafter as necessary to assure that Landlord always has current
certificates evidencing Tenant's Insurance. So long as the same is available at commercially reasonable rates, Landlord shall maintain so called All Risk property insurance on the Building at
replacement cost value as reasonably estimated by Landlord, together with such other insurance coverage as Landlord, in its reasonable judgment, may elect to maintain. 

15.    Subrogation.    

        Landlord
and Tenant hereby waive and shall cause their respective insurance carriers to waive any and all rights of recovery, claims, actions or causes of action against the other for
any loss or damage with respect to Tenant's Property, Leasehold Improvements, the Building, the Premises, or any contents thereof, including rights, claims, actions and causes of action based on
negligence, which loss or damage is (or would have been, had the insurance required by this Lease been carried) covered by insurance. For the purposes of this waiver, any deductible with respect to a
party's insurance shall be deemed covered by and recoverable by such party under valid and collectable policies of insurance. 

16.    Casualty Damage.    

        16.01    If
all or any portion of the Premises becomes untenantable by fire or other casualty to the Premises (collectively a
"Casualty"), Landlord, with reasonable promptness, shall cause a general
contractor selected by Landlord to provide Landlord and Tenant with a written estimate of the amount of time required using standard working methods to Substantially Complete the repair and
restoration of the Premises and any Common Areas necessary to provide access to the Premises ("Completion Estimate"). If the Completion Estimate
indicates that the Premises or any Common Areas necessary to provide access to the Premises cannot be made tenantable within 180 days from the date the repair is started, then either party
shall have the right to terminate this Lease upon written notice to the other within 10 days after receipt of the Completion Estimate. Tenant, however, shall not have the right to terminate
this Lease if the Casualty was caused by the negligence or intentional misconduct of Tenant or any Tenant Related Parties. In addition, Landlord, by notice to Tenant within 90 days after the
date of the Casualty, shall have the right to terminate this Lease if: (1) the Premises have been materially damaged and there is less than 1 year of the Term remaining on the date of
the Casualty; (2) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (3) a material uninsured loss to the Building or Premises occurs. 

        16.02    If
this Lease is not terminated, Landlord shall promptly and diligently, subject to reasonable delays for insurance adjustment or other matters beyond Landlord's
reasonable control, restore the Premises and Common Areas. Such restoration shall be to substantially the same condition that existed prior to the Casualty, except for modifications required by Law or
any other modifications to the Common Areas deemed desirable by Landlord. Upon notice from Landlord, Tenant shall assign or endorse over to Landlord (or to any party designated by Landlord) all
property insurance proceeds payable to Tenant under Tenant's Insurance with respect to any Leasehold Improvements performed by or for the benefit of Tenant. Within 15 days of demand, Tenant
shall also pay Landlord for any 

10

 

additional
excess costs that are determined during the performance of the repairs. In no event shall Landlord be required to spend more for the restoration than the proceeds received by Landlord,
whether insurance proceeds or proceeds from Tenant. Landlord shall not be liable for any inconvenience to Tenant, or injury to Tenant's business resulting in any way from the Casualty or the repair
thereof. Provided that Tenant is not in Monetary or material Default, during any period of time that all or a material portion of the Premises is rendered untenantable as a result of a Casualty, the
Rent shall abate for the portion of the Premises that is untenantable and not used by Tenant. 

17.    Condemnation.    

        Either
party may terminate this Lease if any material part of the Premises is taken or condemned for any public or quasi-public use under Law, by eminent domain or private purchase in
lieu thereof (a "Taking"). Landlord shall also have the right to terminate this Lease if there is a Taking of any portion of the Building or Property
which would have a material adverse effect on Landlord's ability to profitably operate the remainder of the Building, provided that, if the Premises shall not be substantially affected or rendered
substantially unsuable for general office use by reason of such taking, Landlord may not terminate this Lease unless Landlord shall elect to terminate leases (including this Lease) affecting at least
75% of the remaining office space in the Building (expressly excluding any retail space and any rentable area leased by Landlord or its Affiliates). The terminating party shall provide written notice
of termination to the other party within 45 days after it first receives notice of the Taking. The termination shall be effective as of the effective date of any order granting possession to,
or vesting legal title in, the condemning authority. If this Lease is not terminated, Base Rent and Tenant's Pro Rate Share shall be appropriately adjusted to account for any reduction in the square
footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord. The right to receive compensation or proceeds are expressly waived by Tenant, however,
Tenant may file a separate claim for Tenant's Property and Tenant's reasonable relocation expenses, provided the filing of the claim does not diminish the amount of Landlord's award. If only a
part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the
condition immediately prior to the Taking. 

18.    Events of Default.    

        In
addition to any other default specifically described in this Lease, each of the following occurrences shall be a "Default":
(a) Tenant's failure to pay any portion of Rent when due. if the failure continues for 3 days after written notice to Tenant ("Monetary
Default"); (b) Tenant's failure (other than a Monetary Default) to comply with any term, provision, condition or covenant of this Lease, if the failure is not cured
within 20 Business Days after written notice to Tenant provided, however, if Tenant's failure to comply cannot reasonably be cured within 20 Business Days, Tenant shall be allowed additional time (not
to exceed 60 days) as is reasonably necessary to cure the failure so long as Tenant begins the cure within 20 Business Days and diligently pursues the cure to completion; (c) Tenant
permits a Transfer without Landlord's required approval or otherwise in violation of Section 11 of this Lease; (d) Tenant or any Guarantor becomes insolvent, makes a transfer in fraud of
creditors, makes an assignment for the benefit of creditors, admits in writing its inability to pay its debts when due or forfeits or loses its right to conduct business; (e) the leasehold
estate is taken by process or operation of Law; (f) in the case of any ground floor or retail Tenant, Tenant does not take possession of or abandons or vacates all or any portion of the
Premises; or (g) Tenant is in default beyond any notice and cure period under any other lease or agreement with Landlord at the Building or Property. If Landlord provides Tenant with notice of
Tenant's failure to comply with any specific provision of this Lease on 3 separate occasions during any 12 month period, Tenant's subsequent violation of such provision shall, at Landlord's
option, be an incurable Default by Tenant. All notices sent under this Section shall be in satisfaction of, and not in addition to, notice required by Law. 

11

   19.    Remedies.    

        19.01    Upon
Default, Landlord shall have the right to pursue any one or more of the following remedies: 

        (a)   Terminate
this Lease, in which case Tenant shall immediately surrender the Premises to Landlord. If Tenant fails to surrender the Premises, Landlord, in compliance with
Law, may enter upon and take possession of the Premises and remove Tenant, Tenant's Property and any party occupying the Premises. Tenant shall pay Landlord, on demand, all past due Rent and other
losses and damages Landlord suffers as a result of Tenant's Default, including, without limitation, all Costs of Reletting (defined below) and any deficiency that may arise from reletting or the
failure to relet the Premises. "Costs of Reletting" shall include all reasonable costs and expenses incurred by Landlord in reletting or attempting to
relet the Premises, including, without limitation, reasonable legal fees, brokerage commissions, the cost of alterations and the value of other concessions or allowances granted to a new tenant. 

        (b)   Terminate
Tenant's right to possession of the Premises and, in compliance with Law, remove Tenant, Tenant's Property and any parties occupying the Premises. Landlord may
(but shall not be obligated to) relet all or any part of the Premises, without notice to Tenant, for such period of time and on such terms and conditions (which may include concessions, free rent and
work allowances) as Landlord in its absolute discretion shall determine. Landlord may collect and receive all rents and other income from the reletting. Tenant shall pay Landlord on demand all past
due Rent, all Costs of Reletting and any deficiency arising from the reletting or failure to relet the Premises. The re-entry or taking of possession of the Premises shall not be construed
as an election by Landlord to terminate this Lease. 

        19.02    In
lieu of calculating damages under Section 19.01, Landlord may elect to receive as damages the sum of (a) all Rent accrued through the date of
termination of this Lease or Tenant's right to possession, and (b) an amount equal to the total Rent that Tenant would have been required to pay for the remainder of the Term discounted to
present value at the Prime Rate (defined below) then in effect, minus the then present fair rental value of the Premises for the remainder of the Term, similarly discounted, after deducting all
anticipated Costs of Reletting. "Prime Rate" shall be the per annum interest rate publicly announced as its prime or base rate by a federally insured
bank selected by Landlord in the state in which the Building is located. 

        19.03    If
Tenant is in Default of any of its non-monetary obligations under the Lease, Landlord shall have the right to perform such obligations. Tenant shall
reimburse Landlord for the cost
of such performance upon demand together with an administrative charge equal to 10% of the cost of the work performed by Landlord. The repossession or re-entering of all or any part of the
Premises shall not relieve Tenant of its liabilities and obligations under this Lease. No right or remedy of Landlord shall be exclusive of any other right or remedy. Each right and remedy shall be
cumulative and in addition to any other right and remedy now or subsequently available to Landlord at Law or in equity. 

20.    Limitation of Liability.    

        NOTWITHSTANDING
ANYTHING TO THE CONTRARY CONTAINED IN THIS LEASE, THE LIABILITY OF LANDLORD (AND OF ANY SUCCESSOR LANDLORD) SHALL BE LIMITED TO THE LESSER OF (A) THE INTEREST OF
LANDLORD IN THE PROPERTY, OR (B) THE EQUITY INTEREST LANDLORD WOULD HAVE IN THE PROPERTY IF THE PROPERTY WERE ENCUMBERED BY THIRD PARTY DEBT IN AN AMOUNT EQUAL TO 70% OF THE VALUE OF THE
PROPERTY. TENANT SHALL LOOK SOLELY TO LANDLORD'S INTEREST IN THE PROPERTY FOR THE RECOVERY OF ANY JUDGMENT OR AWARD AGAINST LANDLORD OR ANY LANDLORD RELATED PARTY. NEITHER LANDLORD NOR ANY LANDLORD
RELATED PARTY SHALL BE PERSONALLY LIABLE 

12

 

FOR
ANY JUDGMENT OR DEFICIENCY, AND IN NO EVENT SHALL LANDLORD OR ANY LANDLORD RELATED PARTY BE LIABLE TO TENANT FOR ANY LOST PROFIT, DAMAGE TO OR LOSS OF BUSINESS OR ANY FORM OF SPECIAL, INDIRECT OR
CONSEQUENTIAL DAMAGE. BEFORE FILING SUIT FOR AN ALLEGED DEFAULT BY LANDLORD, TENANT SHALL GIVE LANDLORD AND THE MORTGAGEE(S) WHOM TENANT HAS BEEN NOTIFIED HOLD MORTGAGES (DEFINED IN SECTION 23 BELOW),
NOTICE AND REASONABLE TIME TO CURE THE ALLEGED DEFAULT. 

21.    Relocation.    

        Landlord,
at its expense, at any time after the initial Term, may relocate Tenant from the Premises to space of reasonably comparable size and utility
("Relocation Space") within the Building or other buildings within the same project upon 60 days' prior written notice to Tenant. From and after
the date of the relocation, the Base Rent and Tenant's Pro Rata Share shall be adjusted based on the rentable square footage of the Relocation Space. Landlord shall pay Tenant's reasonable costs of
relocation, including all costs for moving Tenant's furniture, equipment, supplies and other personal property, as well as the cost of printing and distributing change of address notices to Tenant's
customers and one month's supply of stationery showing the new address. 

22.    Holding Over.    

        If
Tenant fails to surrender all or any part of the Premises at the termination of this Lease, occupancy of the Premises after termination shall be that of a tenancy at sufferance.
Tenant's occupancy shall be subject to all the terms and provisions of this Lease, and Tenant shall pay an amount (on a per month basis without reduction for partial months during the holdover) equal
to 150% of the sum of the Base Rent and Additional Rent due for the period immediately preceding the holdover. No holdover by Tenant or payment by Tenant after the termination of this Lease shall be
construed to extend the Term or prevent Landlord from immediate recovery of possession of the Premises by summary proceedings or otherwise. If Landlord is unable to deliver possession of the Premises
to a new tenant or to perform improvements for a new tenant as a result of Tenant's holdover and Tenant fails to vacate the Premises within 15 days after notice from Landlord, Tenant shall be
liable for all damages that Landlord suffers from the holdover. 

23.    Subordination to Mortgages; Estoppel Certificate.    

        Tenant
accepts this Lease subject and subordinate to any mortgage(s), deed(s) of trust, ground lease(s) or other lien(s) now or subsequently arising upon the Premises, the Building or
the Property, and to renewals, modifications, refinancings and extensions thereof (collectively referred to as a "Mortgage"). The party having the
benefit of a Mortgage shall be referred to as a "Mortgagee". This clause shall be self-operative, but upon request from a Mortgagee, Tenant
shall execute a commercially reasonable subordination agreement in favor of the Mortgagee. As an alternative, a Mortgagee shall have the right at any time to subordinate its Mortgage to this Lease.
Upon request, Tenant, without charge, shall attorn to any successor to Landlord's interest in this Lease. Landlord and Tenant shall each, within 10 days after receipt of a written request from
the other, execute and deliver a commercially reasonable estoppel certificate to those parties as are reasonably requested by the other (including a Mortgagee or prospective purchaser). Without
limitation, such estoppel certificate may include a certification as to the status of this Lease, the existence of any defaults and the amount of Rent that is due and payable. 

24.    Notice.    

        All
demands, approvals, consents or notices (collectively referred to as a "notice") shall be in writing and delivered by hand or sent by
registered or certified mail with return receipt requested or sent by overnight or same day courier service at the party's respective Notice Address(es) set forth in Section 1. Each notice
shall be deemed to have been received on the earlier to occur of actual delivery 

13

 

or
the date on which delivery is refused, or, if Tenant has vacated the Premises or any other Notice Address of Tenant without providing a new Notice Address, 3 days after notice is deposited
in the U.S. mail or with a courier service in the manner described above. Either party may, at any time, change its Notice Address (other than to a post office box address) by giving the other party
written notice of the new address. 

25.    Surrender of Premises.    

        At
the termination of this Lease or Tenant's right of possession, Tenant shall remove Tenant's Property from the Premises, and quit and surrender the Premises to Landlord, broom clean,
and in good order, condition and repair, ordinary wear and tear and damage which Landlord is obligated to repair hereunder excepted. If Tenant fails to remove any of Tenant's Property within
2 days after termination of this Lease or Tenant's right to possession, Landlord, at Tenant's sole cost and expense, shall be entitled (but not obligated) to remove and store Tenant's Property.
Landlord shall not be responsible for the value, preservation or safekeeping of Tenant's Property. Tenant shall pay Landlord, upon demand, the expenses and storage charges incurred. If Tenant fails to
remove Tenant's Property from the Premises or storage, within 30 days after notice, Landlord may deem all or any part of Tenant's Property to be abandoned and title to Tenant's Property shall
vest in Landlord. 

26.    Miscellaneous.    

        26.01    This
Lease shall be interpreted and enforced in accordance with the Laws of the state or commonwealth in which the Building is located and Landlord and Tenant hereby
irrevocably consent to the jurisdiction and proper venue of such state or commonwealth. If any term or provision of this Lease shall to any extent be void or unenforceable, the remainder of this Lease
shall not be affected. If there is more than one Tenant or if Tenant is comprised of more than one party or entity, the obligations imposed upon Tenant shall be joint and several obligations of all
the parties and entities, and requests or demands from any one person or entity comprising Tenant shall be deemed to have been made by all such persons or entities. Notices to any one person or entity
shall be deemed to have been given to all persons and entities. Tenant represents and warrants to Landlord that each individual executing this Lease on behalf of Tenant is authorized to do so on
behalf of Tenant and that Tenant is not, and the entities or individuals constituting Tenant or which may own or control Tenant or which may be owned or controlled by Tenant are not, (i) in
violation of any laws relating to terrorism or money laundering, or (ii) among the individuals or entities identified on any list compiled pursuant to Executive Order 13224 for the purpose of
identifying suspected terrorists or on the most current list published by the U.S. Treasury Department Office of Foreign Assets Control at its official website,  http://www.treas.gov/ofac/tllsdn.pdf or
any replacement website or other replacement official publication of such list. 

        26.02    If
either party institutes a suit against the other for violation of or to enforce any covenant, term or condition of this Lease, the prevailing party shall be
entitled to reimbursement of all of its costs and expenses, including, without limitation, reasonable attorneys' fees. Landlord and Tenant hereby waive any right to trial by jury in any proceeding
based upon a breach of this Lease. No failure by either party to declare a default immediately upon its occurrence, nor any delay by either party in taking action for a default, nor Landlord's
acceptance of Rent with knowledge of a default by Tenant, shall constitute a waiver of the default, nor shall it constitute an estoppel. 

        26.03    Whenever
a period of time is prescribed for the taking of an action by Landlord or Tenant (other than the payment of the Security Deposit or Rent), the period of time
for the performance of such action shall be extended by the number of days that the performance is actually delayed due to strikes, acts of God, shortages of labor or materials, war, terrorist acts,
civil disturbances and other causes beyond the reasonable control of the performing party ("Force Majeure"). 

14

 

        26.04    Landlord
shall have the right to transfer and assign, in whole or in part, all of its rights and obligations under this Lease and in the Building and Property. Upon
transfer Landlord shall be released from any further obligations hereunder and Tenant agrees to look solely to the successor in interest of Landlord for the performance of such obligations, provided
that, any successor pursuant to a voluntary, third party transfer (but not as part of an involuntary transfer resulting from a foreclosure or deed in lieu thereof) shall have assumed Landlord's
obligations under this Lease. 

        26.05    Landlord
has delivered a copy of this Lease to Tenant for Tenent's review only and the delivery of it does not constitute an offer to Tenant or an option. Tenant
represents that it has dealt directly with and only with the Broker as a broker in connection with this Lease. Tenant shall indemnify and hold Landlord and the Landlord Related Parties harmless from
all claims of any other brokers claiming to have represented Tenant in connection with this Lease. Landlord shall indemnify and hold Tenant and the Tenant Related Parties harmless from all claims of
any brokers claiming to have represented Landlord in connection with the Lease. 

        26.06    Time
is of the essence with respect to Tenant's exercise of any expansion, renewal or extension rights granted to Tenant. The expiration of the Term, whether by lapse
of time, termination or otherwise, shall not relieve either party of any obligations which accrued prior to or which may continue to accrue after the expiration or termination of this Lease. 

        26.07    Tenant
may peacefully have, hold and enjoy the Premises, subject to the terms of this Lease, provided Tenant pays the Rent and fully performs all of its covenants and
agreements. This covenant shall be binding upon Landlord and its successors only during its or their respective periods of ownership of the Building. 

        26.08    This
Lease does not grant any rights to light or air over or about the Building. Landlord excepts and reserves exclusively to itself any and all rights not
specifically granted to Tenant under this Lease. This Lease constitutes the entire agreement between the parties and supersedes all prior agreements and understandings related to the Premises,
including all lease proposals, letters of intent and other documents. Neither party is relying upon any warranty, statement or representation not contained in this Lease. This Lease may be modified
only by a written agreement signed by an authorized representative of Landlord and Tenant. 

15

 

        Landlord
and Tenant have executed this Lease as of the day and year first above written. 

	WITNESS/ATTEST:	 	LANDLORD:
	

 	

 	
 	
CT-FOUR STAMFORD PLAZA, L.L.C., a Delaware limited liability company
	

    
	
 	

By:	

Equity Office Management, L.L.C., a Delaware limited liability company, its non-member manager
	

Name (print):	

    
	
 	

 	

By:	

/s/  DONALD E. HUFANER      

	

    
	
 	

 	

Name:	

DONALD E. HUFANER

	

Name (print):	

    
	
 	

 	

Title:	

SENIOR V.P.

	

 	

 	
 	

 	

 	

 
	
WITNESS/ATTEST:	
 	
TENANT:
	

 	

 	
 	
INFORMATION SERVICES GROUP, INC., a Delaware corporation
	

    
	
 	

By:	

/s/  MICHAEL P. CONNORS      

	

Name (print):	

    
	
 	

Name:	

MICHAEL P. CONNORS

	

    
	
 	

Title:	

Chairman & CEO

	

Name (print):	

    
	
 	

20-5261587 - Tenant's Tax ID Number (SSN or FEIN)

16

  

 
 

EXHIBIT A    
    
    OUTLINE AND LOCATION OF PREMISES    
    

        This Exhibit is attached to and made a part of the Lease by and between CT-FOUR STAMFORD PLAZA, L.L.C., a Delaware limited
liability company ("Landlord") and INFORMATION SERVICES GROUP, INC., a Delaware corporation ("Tenant") for space in the
Building located at 107 Elm Street, Stamford, Connecticut 06902. 

1

  

 
 

EXHIBIT B    
    
    EXPENSES AND TAXES    
    

        This Exhibit is attached to and made a part of the Lease by and between CT-FOUR STAMFORD PLAZA,
L.L.C., a Delaware limited liability company ("Landlord") and INFORMATION SERVICES GROUP, INC., a
Delaware corporation ("Tenant") for space in the Building located at 107 Elm Street, Stamford, Connecticut 06902. 

1.    Payments.    

        1.01    Tenant
shall pay Tenant's Pro Rata Share of the amount, if any, by which Expenses (defined below) for each calendar year during the Term exceed Expenses for the Base
Year (the "Expense Excess") and also the amount, if any, by which Taxes (defined below) for each calendar year during the Term exceed Taxes for the Base
Year (the "Tax Excess"). If Expenses or Taxes in any calendar year decrease below the amount of Expenses or Taxes for the Base Year, Tenant's Pro Rata
Share of Expenses or Taxes, as the case may be, for that calendar year shall be $0. Landlord shall provide Tenant with a good faith estimate of the Expense Excess and of the Tax Excess for each
calendar year during the Term. On or before the first day of each month, Tenant shall pay to Landlord a monthly installment equal to one- twelfth of Tenant's Pro Rata Share of Landlord's
estimate of both the Expense Excess and Tax Excess. After its receipt of the revised estimate, Tenant's monthly payments shall be based upon the revised estimate. If Landlord does not provide Tenant
with an estimate of the Expense Excess or the Tax Excess by January 1 of a calendar year, Tenant shall continue to pay monthly installments based on the previous year's estimate(s) until
Landlord provides Tenant with the new estimate. 

        1.2    As
soon as is practical following the end of each calendar year, Landlord shall furnish Tenant with a statement of the actual Expenses and Expense Excess and the actual
Taxes and Tax Excess for the prior calendar year. Landlord shall use reasonable efforts to furnish the statement of actual Expenses on or before July 1 of the calendar year immediately
following the calendar year to which the statement applies. If the estimated Expense Excess or estimated Tax Excess for the prior calendar year is more than the actual Expense Excess or actual Tax
Excess, as the case may be, for the prior calendar year, Landlord shall either provide Tenant with a refund or apply any overpayment by Tenant against Additional Rent due or next becoming due,
provided if the Term expires before the determination of the overpayment, Landlord shall refund any overpayment to Tenant, within 30 days after the expiration
of the Term, after first deducting the amount of Rent due. If the estimated Expense Excess or estimated Tax Excess for the prior calendar year is less than the actual Expense Excess or actual Tax
Excess, as the case may be, for such prior year, Tenant shall pay Landlord, within 30 days after its receipt of the statement of Expenses or Taxes, any underpayment for the prior calendar year.
This provision shall survive the expiration or earlier termination of this Lease. 

2.    Expenses.    

        2.01    "Expenses" means all costs and expenses incurred in each calendar year in connection with operating, maintaining,
repairing, and managing the Building and the Property. Expenses include, without limitation: (a) all labor and labor related costs, including wages, salaries, bonuses, taxes, insurance,
uniforms, training, retirement plans, pension plans and other employee benefits; (b) management fees; (c) the cost of equipping, staffing and operating an on-site and/or
off-site management office for the Building, provided if the management office services one or more other buildings or properties, the shared costs and expenses of equipping, staffing and
operating such management office(s) shall be equitably prorated and apportioned between the Building and the other buildings or properties; (d) accounting costs; (e) the cost of
services; (f) rental and purchase cost of parts, supplies, tools and equipment; (g) insurance premiums and deductibles; (h) electricity, gas and other utility costs for the Common
Areas excluding those charges for which Landlord is entitled to be 

1

 

reimbursed
by tenants; and (i) the amortized cost of capital improvements (as distinguished from replacement parts or components installed in the ordinary course of business) made subsequent to
the Base Year which are: (1) performed primarily to reduce current or future operating expense costs, upgrade Building security or otherwise improve the operating efficiency of the Property; or
(2) required to comply with any Laws that are enacted, or first interpreted to apply to the Property, after the date of this Lease. The cost of capital improvements shall be amortized by
Landlord over the lesser of the Payback Period (defined below) or the useful life of the capital improvement as reasonably determined by Landlord. The amortized cost of capital improvements may, at
Landlord's option, include actual or imputed interest at the rate that Landlord would reasonably be required to pay to finance the cost of the capital improvement. "Payback
Period" means the reasonably estimated period of time that it takes for the cost savings resulting from a capital improvement to equal the total cost of the capital
improvement. Landlord, by itself or through an affiliate, shall have the right to directly perform, provide and be compensated for any services under this Lease, provided such compensation is no more
than an arms length transaction. If Landlord incurs Expenses for the Building or Property together with one or more other buildings or properties, whether pursuant to a reciprocal easement agreement,
common area agreement or otherwise, the shared costs and expenses shall be equitably prorated and apportioned between the Building and Property and the other buildings or properties. 

        2.02    Expenses
shall not include: the cost of capital improvements (except as set forth above); depreciation; principal payments of mortgage and other
non-operating debts of Landlord; the cost of repairs or other work to the extent Landlord is reimbursed by insurance or condemnation proceeds; costs in connection with leasing space in the
Building, including brokerage commissions; lease concessions, rental abatements and construction allowances granted to specific
tenants; costs incurred in connection with the sale, financing or refinancing of the Building; fines, interest and penalties incurred due to the late payment of Taxes or Expenses; organizational
expenses associated with the creation and operation of the entity which constitutes Landlord; or any penalties or damages that Landlord pays to Tenant under this Lease or to other tenants in the
Building under their respective leases. 

        2.03    If
at any time during a calendar year the Building is not at least 95% occupied or Landlord is not supplying services to at least 95% of the total Rentable Square
Footage of the Building, Expenses shall, at Landlord's option, be determined as if the Building had been 95% occupied and Landlord had been supplying services to 95% of the Rentable Square Footage of
the Building. If Expenses for a calendar year are determined as provided in the prior sentence, Expenses for the Base Year shall also be determined in such manner. Notwithstanding the foregoing,
Landlord may calculate the extrapolation of Expenses under this Section based on 100% occupancy and service so long as such percentage is used consistently for each year of the Term. The extrapolation
of Expenses under this Section shall be performed in accordance with the methodology specified by the Building Owners and Managers Association. 

3.    "Taxes" shall mean: (a) all real property taxes and other assessments on the Building and/or Property, including, but not limited
to, gross receipts taxes, assessments for special improvement districts and building improvement districts, governmental charges, fees and assessments for police, fire, traffic mitigation or other
governmental service of purported benefit to the Property, taxes and assessments levied in substitution or supplementation in whole or in part of any such taxes and assessments and the Property's
share of any real estate taxes and assessments under any reciprocal easement agreement, common area agreement or similar agreement as to the Property; (b) all personal property taxes for
property that is owned by Landlord and used in connection with the operation, maintenance and repair of the Property; and (c) all costs and fees incurred in connection with seeking reductions
in any tax liabilities described in (a) and (b), including, without limitation, any costs incurred by Landlord for compliance, review and appeal of tax liabilities. Without limitation, Taxes
shall not include any income, capital levy, transfer, capital stock, gift, estate or inheritance tax. If a change in Taxes is obtained for any year of the Term during which Tenant paid Tenant's Pro
Rata Share of any 

2

 

Tax
Excess, then Taxes for that year will be retroactively adjusted and Landlord shall provide Tenant with a credit, if any, based on the adjustment. Likewise, if a change is obtained for Taxes for
the Base Year, Taxes for the Base Year shall be restated and the Tax Excess for all subsequent years shall be recomputed. Tenant shall pay Landlord the amount of Tenant's Pro Rata Share of any such
increase in the Tax Excess within 30 days after Tenant's receipt of a statement from Landlord. 

4.    Audit Rights.    Tenant, within 365 days after receiving Landlord's statement of Expenses, may
give Landlord written notice ("Review Notice") that Tenant intends to review Landlord's records of the Expenses for the calendar year to which the
statement applies. Within a reasonable time after receipt of the Review Notice, Landlord shall make all pertinent records available for inspection that are reasonably necessary for Tenant to conduct
its review. If any records are maintained at a location other than the management office for the Building, Tenant may either inspect the records at such other location or pay for the reasonable cost
of copying and shipping the records. If Tenant retains an agent to review Landlord's records, the agent must be with a CPA firm licensed to do business in the state or commonwealth where the Property
is located. Tenant shall be solely responsible for all costs, expenses and fees incurred for the audit. If Landlord and Tenant determine that Expenses for the calendar year were less than stated by
more than 5%, Landlord, within 30 days after its receipt of paid invoices therefor from Tenant, shall reimburse Tenant for any reasonable amounts paid by Tenant to third parties in connection
with such review by Tenant. Within 90 days after the records are made available to Tenant, Tenant shall have the right to give Landlord written notice (an "Objection
Notice") stating in reasonable detail any objection to Landlord's statement of Expenses for that year. If Tenant fails to give Landlord an Objection Notice within the
90 day period or fails to provide Landlord with a Review Notice within the 365 day period described above, Tenant shall be deemed to have approved Landlord's statement of Expenses and
shall be barred from raising any claims regarding the Expenses for that year. If Tenant provides Landlord with a timely Objection Notice, Landlord and Tenant shall work together in good faith to
resolve any issues raised in Tenants Objection Notice. If Landlord and Tenant determine that Expenses for the calendar year are less than reported, Landlord shall provide Tenant with a credit against
the next installment of Rent in the amount of the overpayment by Tenant. Likewise, if Landlord and Tenant determine that Expenses for the calendar year are greater than reported, Tenant shall pay
Landlord the amount of any underpayment within 30 days. The records obtained by Tenant shall be treated as confidential. In no event shall Tenant be permitted to examine Landlord's records or
to dispute any statement of Expenses unless Tenant has paid and continues to pay all Rent when due. 

3

  

 
 

EXHIBIT C    
    
    WORK LETTER    
    

        This Exhibit is attached to and made a part of the Lease by and between CT-FOUR STAMFORD PLAZA, L.L.C., a Delaware limited
liability company ("Landlord") and INFORMATION SERVICES GROUP, INC., a Delaware corporation ("Tenant") for space in the
Building located at 107 Elm Street, Stamford, Connecticut 06902. 

	1.
	Landlord
shall perform improvements to the Premises in accordance with the plans prepared by MAF Architects, dated July 6, 2006, (the
"Plans"). The improvements to be performed by Landlord in accordance with the Plans are hereinafter referred to as the "Landlord Work." It is agreed
that construction of the Landlord Work will be completed at Landlord's sole cost and expense (subject to the terms of Section 2 below) using Building standard methods, materials and finishes.
Landlord shall enter into a direct contract for the Landlord Work with a general contractor selected by Landlord. In addition, Landlord shall have the right to select and/or approve of any
subcontractors used in connection with the Landlord Work. Landlord's supervision or performance of any work for or on behalf of Tenant shall not be deemed a representation by Landlord that such Plans
or the revisions thereto comply with applicable insurance requirements, building codes, ordinances. Laws or regulations, or that the improvements constructed in accordance with the Plans and any
revisions thereto will be adequate for Tenant's use.

	2.
	If
Tenant shall request any revisions to the Plans, Landlord shall have such revisions prepared at Tenant's sole cost and expense and Tenant shall reimburse Landlord for the cost of
preparing any such revisions to the Plans, plus any applicable state sales or use tax thereon, upon demand. Promptly upon completion of the revisions, Landlord shall notify Tenant in writing of the
increased cost in the Landlord Work, if any, resulting from such revisions to the Plans. Tenant, within one Business Day, shall notify Landlord in writing whether it desires to proceed with such
revisions. In the absence of such written authorization, Landlord shall have the option to continue work on the Premises disregarding the requested revision. Tenant shall be responsible for any Tenant
Delay in completion of the Premises resulting from any revision to the Plans. If such revisions result in an increase in the cost of Landlord Work, such increased costs, plus any applicable state
sales or use tax thereon, shall be payable by Tenant upon demand. Notwithstanding anything herein to the contrary, all revisions to the Plans shall be subject to the approval of Landlord, which
approval shall not be unreasonably withheld or delayed.

	3.
	Landlord
and Tenant agree to cooperate with each other in order to enable the Landlord Work to be performed in a timely manner and with as little inconvenience to the operation of
Tenant's business as is reasonably possible. Notwithstanding anything herein to the contrary, any delay in the completion of the Landlord Work or inconvenience suffered by Tenant during the
performance of the Landlord Work shall not delay the Commencement Date nor shall it subject Landlord to any liability for any loss or damage resulting therefrom or entitle Tenant to any credit,
abatement or adjustment of Rent or other sums payable under the Lease.

	4.
	This
Exhibit shall not be deemed applicable to any additional space added to the Premises at any time or from time to time, whether by any options under the Lease or otherwise, or to
any portion of the original Premises or any additions to the Premises in the event of a renewal or extension of the original Term of the Lease, whether by any options under the Lease or otherwise,
unless expressly so provided in the Lease or any amendment or supplement to the Lease. 

1

  

 
 

EXHIBIT D    
    
    COMMENCEMENT LETTER
  (EXAMPLE)    

	Date	    
	 	 
	

Tenant	

Information Services Group, Inc.	
 	

 
	Address	    
    
    
	 	 

	

Re:	

Commencement Letter with respect to that certain Lease dated as of the        day
of                        , 2006, by and between CT-FOUR STAMFORD PLAZA, L.L.C., a Delaware limited
liability company, as Landlord, and INFORMATION SERVICES GROUP, INC., a Delaware corporation, as Tenant, for 3,401 rentable
square feet on the 5th floor of the Building located at 107 Elm Street, Stamford, Connecticut 06902.
	

 	

Lease Id:	

    
	

 
	 	Business Unit Number:	    
	 

Dear:
                                    : 

        In
accordance with the terms and conditions of the above referenced Lease, Tenant accepts possession of the Premises and agrees: 

	1.
	The
Commencement Date of the Lease is
                                    ;

	2.
	The
Termination Date of the Lease is
                                    . 

        Please
acknowledge your acceptance of possession and agreement to the terms set forth above by signing all 3 counterparts of this Commencement Letter in the space provided and
returning 2 fully executed counterparts to my attention. Tenant's failure to execute and return this letter, or to provide written objection to the statements contained in this letter, within
30 days after the date of this letter shall be deemed an approval by Tenant of the statements contained herein. 

Sincerely, 

	    
 Authorized Signatory	 
	

Agreed and Accepted:	

 
	

 	

Tenant:	

    
	

 
	

 	

By:	

    
	

 
	 	Name:	    
	 
	 	Title:	    
	 
	 	Date:	    
	 
	

cc:	

EOP Lease Administration

EOP Leasing AA

EOP Legal

1

  

 
 

EXHIBIT E    
    
    BUILDING RULES AND REGULATIONS    
    

        This Exhibit is attached to and made a part of the Lease by and between CT-FOUR STAMFORD PLAZA, L.L.C., a Delaware limited
liability company ("Landlord") and INFORMATION SERVICES GROUP, INC., a Delaware corporation ("Tenant") for space in the
Building located at 107 Elm Street, Stamford, Connecticut 06902. 

        The
following rules and regulations shall apply, where applicable, to the Premises, the Building, the parking facilities (if any), the Property and the appurtenances. In the event of a
conflict between the following rules and regulations and the remainder of the terms of the Lease, the remainder of the terms of the Lease shall control. Capitalized terms have the same meaning as
defined in the Lease. 

	1.
	Sidewalks,
doorways, vestibules, halls, stairways and other similar areas shall not be obstructed by Tenant or used by Tenant for any purpose other than ingress and egress to and from
the Premises. No rubbish, litter, trash, or material shall be placed, emptied, or thrown in those areas. At no time shall Tenant permit Tenant's employees to loiter in Common Areas or elsewhere about
the Building or Property.

	2.
	Plumbing
fixtures and appliances shall be used only for the purposes for which designed and no sweepings, rubbish, rags or other unsuitable material shall be thrown or placed in the
fixtures or appliances.

	3.
	No
signs, advertisements or notices shall be painted or affixed to windows, doors or other parts of the Building, except those of such color, size, style and in such places as are
first approved in writing by Landlord. All tenant identification and suite numbers at the entrance to the Premises shall be installed by Landlord, at Tenant's cost and expense, using the standard
graphics for the Building. Except in connection with the hanging of lightweight pictures and wall decorations, no nails, hooks or screws shall be inserted into any part of the Premises or Building
except by the Building maintenance personnel without Landlord's prior approval, which approval shall not be unreasonably withheld.

	4.
	Landlord
shall provide and maintain in the first floor (main lobby) of the Building an alphabetical directory board or other directory device listing tenants and no other directory
shall be permitted unless previously consented to by Landlord in writing.

	5.
	Tenant
shall not place any lock(s) on any door in the Premises or Building without Landlord's prior written consent, which consent shall not be unreasonably withheld, and Landlord
shall have the right at all times to retain and use keys or other access codes or devices to all locks within and into the Premises. A reasonable number of keys to the locks on the entry doors in the
Premises shall be furnished by Landlord to Tenant at Tenant's cost and Tenant shall not make any duplicate keys. All keys shall be returned to Landlord at the expiration or early termination of the
Lease.

	6.
	All
contractors, contractor's representatives and installation technicians performing work in the Building shall be subject to Landlord's prior approval, which approval shall not be
unreasonably withheld, and shall be required to comply with Landlord's standard rules, regulations, policies and procedures, which may be revised from time to time.

	7.
	Movement
in or out of the Building of furniture or office equipment, or dispatch or receipt by Tenant of merchandise or materials requiring the use of elevators, stairways, lobby areas
or loading dock areas, shall be restricted to hours reasonably designated by Landlord. Tenant shall obtain Landlord's prior approval by providing a detailed listing of the activity, which approval
shall not be unreasonably withheld. If approved by Landlord, the activity shall be under the supervision of Landlord and performed in the manner required by Landlord. Tenant shall assume all risk for
damage to articles moved and injury to any persons resulting from the activity. If equipment, 

1

 

property,
or personnel of Landlord or of any other party is damaged or injured as a result of or in connection with the activity, Tenant shall be solely liable for any resulting damage, loss or
injury. 

	8.
	Landlord
shall have the right to approve the weight, size, or location of heavy equipment or articles in and about the Premises, which approval shall not be unreasonably withheld.
Damage to the Building by the installation, maintenance, operation, existence or removal of Tenant's Property shall be repaired at Tenant's sole expense.

	9.
	Corridor
doors, when not in use, shall be kept closed.

	10.
	Tenant
shall not: (1) make or permit any improper, objectionable or unpleasant noises or odors in the Building, or otherwise interfere in any way with other tenants or persons
having business with them; (2) solicit business or distribute or cause to be distributed, in any portion of the Building, handbills, promotional materials or other advertising; or
(3) conduct or permit other activities in the Building that might, in Landlord's sole opinion, constitute a nuisance.

	11.
	No
animals, except those assisting handicapped persons, shall be brought into the Building or kept in or about the Premises.

	12.
	No
inflammable, explosive or dangerous fluids or substances shall be used or kept by Tenant in the Premises, Building or about the Property, except for those substances as are
typically found in similar premises used for general office purposes and are being used by Tenant in a safe manner and in accordance with all applicable Laws. Tenant shall not, without Landlord's
prior written consent, use, store, install, spill, remove, release or dispose of, within or about the Premises or any other portion of the Property, any asbestos-containing materials or any solid,
liquid or gaseous material now or subsequently considered toxic or hazardous under the provisions of 42 U.S.C. Section 9601 et seq. or any other applicable environmental Law which may now or
later be in effect. Tenant shall comply with all Laws pertaining to and governing the use of these materials by Tenant and shall remain solely liable for the costs of abatement and removal.

	13.
	Tenant
shall not use or occupy the Premises in any manner or for any purpose which might injure the reputation or impair the present or future value of the Premises or the Building.
Tenant shall not use, or permit any part of the Premises to be used for lodging, sleeping or for any illegal purpose.

	14.
	Tenant
shall not take any action which would violate Landlord's labor contracts or which would cause a work stoppage, picketing, labor disruption or dispute or interfere with
Landlord's or any other tenant's or occupant's business or with the rights and privileges of any person lawfully in the Building ("Labor Disruption").
Tenant shall take the actions necessary to resolve the Labor Disruption, and shall have pickets removed and, at the request of Landlord, immediately terminate any work in the Premises that gave rise
to the Labor Disruption, until Landlord gives its written consent for the work to resume. Tenant shall have no claim for damages against Landlord or any of the Landlord Related Parties nor shall the
Commencement Date of the Term be extended as a result of the above actions.

	15.
	Tenant
shall not install, operate or maintain in the Premises or in any other area of the Building, electrical equipment that would overload the electrical system beyond its capacity
for proper, efficient and safe operation as determined solely by Landlord. Tenant shall not furnish cooling or heating to the Premises, including, without limitation, the use of electric or gas
heating devices, without Landlord's prior written consent. Tenant shall not use more than its proportionate share of telephone lines and other telecommunication facilities available to service the
Building.

	16.
	Tenant
shall not operate or permit to be operated a coin or token operated vending machine or similar device (including, without limitation, telephones, lockers, toilets, scales,
amusement devices 

2

 

and
machines for sale of beverages, foods, candy, cigarettes and other goods), except for machines for the exclusive use of Tenant's employees and invitees. 

	17.
	Bicycles
and other vehicles are not permitted inside the Building or on the walkways outside the Building, except in areas designated by Landlord.

	18.
	Landlord
may from time to time adopt systems and procedures for the security and safety of the Building and Property, its occupants, entry, use and contents. Tenant, its agents,
employees, contractors, guests and invitees shall comply with Landlord's systems and procedures.

	19.
	Landlord
shall have the right to prohibit the use of the name of the Building or any other publicity by Tenant that in Landlord's sole opinion may impair the reputation of the
Building or its desirability. Upon written notice from Landlord, Tenant shall refrain from and discontinue such publicity immediately.

	20.
	Neither
Tenant nor its agents, employees, contractors, guests or invitees shall smoke or permit smoking in the Common Areas, unless a portion of the Common Areas have been declared a
designated smoking area by Landlord, nor shall the above parties allow smoke from the Premises to emanate into the Common Areas or any other part of the Building. Landlord shall have the right to
designate the Building (including the Premises) as a non-smoking building.

	21.
	Landlord
shall have the right to designate and approve standard window coverings for the Premises and to establish rules to assure that the Building presents a uniform exterior
appearance. Tenant shall ensure, to the extent reasonably practicable, that window coverings are closed on windows in the Premises while they are exposed to the direct rays of the sun.

	22.
	Deliveries
to and from the Premises shall be made only at the times in the areas and through the entrances and exits reasonably designated by Landlord. Tenant shall not make
deliveries to or from the Premises in a manner that might interfere with the use by any other tenant of its premises or of the Common Areas, any pedestrian use, or any use which is inconsistent with
good business practice.

	23.
	The
work of cleaning personnel shall not be hindered by Tenant after 5:30 P.M., and cleaning work may be done at any time when the offices are vacant. Windows, doors and
fixtures may be cleaned at any time. Tenant shall provide adequate waste and rubbish receptacles to prevent unreasonable hardship to the cleaning service. 

3

  

 
 

EXHIBIT F    
    
    ADDITIONAL PROVISIONS    
    

        This Exhibit is attached to and made a part of the Lease by and between CT-FOUR STAMFORD PLAZA, L.L.C., a Delaware limited
liability company ("Landlord") and INFORMATION SERVICES GROUP, INC., a Delaware corporation, ("Tenant") for space in the
Building located at 107 Elm Street, Stamford, Connecticut 06902. 

1.    Parking.    

	1.01
	During
the initial Term, Tenant agrees to lease from Landlord and Landlord agrees to lease to Tenant a total of 9 unreserved parking spaces (the
"Spaces"), in addition Tenant shall have the right to purchase an additional parking card for $65 a month if needed, for the use of Tenant and its
employees, in the parking facility owned by Landlord that serves the Building (the "Parking Facility"), and if the Parking Facility includes a garage,
then such Spaces may be in, or on the roof of, such garage. In addition, Tenant shall have the right to purchase an additional parking card for $65 a month if needed. No deductions or allowances shall
be made for days when Tenant or any of its employees does not utilize the Parking Facility or for Tenant utilizing less than all of the Spaces. Tenant shall not have the right to lease or otherwise
use more than the number of unreserved Spaces set forth above.

	1.02
	During
the initial Term, Tenant shall have no obligation to pay Additional Rent for 9 of the Spaces.

	1.03
	Except
for particular spaces and areas designated by Landlord for reserved parking, all parking in the Parking Facility shall be on an unreserved, first-come,
first-served basis.

	1.04
	Landlord
shall not be responsible for money, jewelry, automobiles or other personal property lost in or stolen from the Parking Facility regardless of whether such loss or theft
occurs when the Parking Facility is locked or otherwise secured. Except as caused by the negligence or willful misconduct of Landlord and without limiting the terms of the preceding sentence, Landlord
shall not be liable for any loss, injury or damage to persons using the Parking Facility or automobiles or other property therein, it being agreed that, to the fullest extent permitted by law, the use
of the Spaces shall be at the sole risk of Tenant and its employees.

	1.05
	Landlord
shall have the right from time to time to designate the location of the Spaces and to promulgate reasonable rules and regulations regarding the Parking Facility, the Spaces
and the use thereof, including, but not limited to, rules and regulations controlling the flow of traffic to and from various parking areas, the angle and direction of parking and the like. Tenant
shall comply with and cause its employees to comply with all such rules and regulations as well as all reasonable additions and amendments thereto.

	1.06
	Tenant
shall not store or permit its employees to store any automobiles in the Parking Facility without the prior written consent of Landlord. Except for emergency repairs, Tenant
and its employees shall not perform any work on any automobiles while located in the Parking Facility or on the Property. If it is necessary for Tenant or its employees to leave an automobile in the
Parking Facility overnight, Tenant shall provide Landlord with prior notice thereof designating the license plate number and model of such automobile.

	1.07
	Landlord
shall have the right to temporarily close the Parking Facility or certain areas therein in order to perform necessary repairs, maintenance and improvements to the Parking
Facility.

	1.08
	Tenant
shall not assign or sublease any of the Spaces without the consent of Landlord. Landlord shall have the right to terminate this Parking Agreement with respect to any Spaces
that Tenant desires to sublet or assign. 

1

 

	1.09
	Landlord
may elect to provide parking cards or keys to control access to the Parking Facility. In such event, Landlord shall provide Tenant with one card or key for each Space that
Tenant is leasing hereunder, provided that Landlord shall have the right to require Tenant or its employees to place a deposit on such access cards or keys and to pay a fee for any lost or damaged
cards or keys.

	1.10
	Landlord
hereby reserves the right to enter into a management agreement or lease with an entity for the Parking Facility ("Parking Facility
Operator"). In such event, Tenant, upon request of Landlord, shall enter into a parking agreement with the Parking Facility Operator and pay the Parking Facility Operator the
monthly charge established hereunder, and Landlord shall have no liability for claims arising through acts or omissions of the Parking Facility Operator unless caused by Landlord's negligence or
willful misconduct. It is understood and agreed that the identity of the Parking Facility Operator may change from time to time during the Term. In connection therewith, any parking lease or agreement
entered into between Tenant and a Parking Facility Operator shall be freely assignable by such Parking Facility Operator or any successors thereto. 

2.    First Renewal Option.    

	2.01
	Tenant
shall have the right to extend the Term (the "First Renewal Option") for one additional period of 6 months commencing on
the day following the Termination Date of the initial Term and ending on the last day of the 6th month following the Termination Date (the "First Renewal
Term"), if:

	a.
	Landlord
receives notice of exercise of the First Renewal Option ("First Renewal Notice") not less than 3 full calendar months prior to
the expiration of the initial Term; and

	b.
	Tenant
is not in Default under the Lease beyond any applicable cure periods at the time that Tenant delivers its First Renewal Notice; and

	c.
	No
part of the Premises is sublet (other than pursuant to a Business Transfer, as defined in Article 11 of the Lease) at the time that Tenant delivers its First Renewal Notice;
and

	d.
	The
Lease has not been assigned (other than pursuant to a Business Transfer, as defined in Article 11 of the Lease) prior to the date that Tenant delivers its First Renewal
Notice; and

	2.02
	During
the First Renewal Term and Second Renewal Term (defined below), the Premises, as defined in the Lease, is increased from 3,401 rentable square feet on the 5th floor to 4,401
rentable square feet on the 5th floor by the addition of 1,000 rentable square feet (the "Additional Space"), and from and after the commencement of the
First Renewal Term, the Premises and the Additional Space, collectively, shall be deemed the Premises, as defined in the Lease. The Additional Space is subject to all the terms and conditions of the
Lease except as expressly modified herein. During the First Renewal Term, Tenant's Pro Rata Share for the entire Premises shall be amended from 1.3051% to 1.6889%.

	2.03
	The
Base Rent rate per rentable square foot for the Premises during the First Renewal Term shall be as follows: 

	Months
 
	 	Annual Rate

Per Square Foot
	 	Annual

Base Rent
	 	Monthly

Base Rent

	01 - 06	 	$36.00	 	$158,436.00	 	$13,203.00

Base
Rent during the First Renewal Term shall be payable in accordance with the terms and conditions of Section 4 of the Lease. 

2

 

	2.03
	Tenant
shall pay Additional Rent (i.e. Taxes and Expenses) for the Premises during the First Renewal Term in accordance with  Exhibit B of the Lease, provided, however, during such period, the Base Year
for the computation of Tenant's Pro Rata Share of Expenses and Taxes
applicable to the Premises is 2007.

	2.05
	If
Tenant is entitled to and property exercises its First Renewal Option, Landlord shall prepare an amendment (the "First Renewal
Amendment") to reflect changes in the Base Rent, Term, Termination Date and other appropriate terms. The First Renewal Amendment shall be sent to Tenant within a reasonable
time after receipt of the First Renewal Notice and executed by Tenant and returned to Landlord within 15 days after Tenant's receipt of same. An otherwise valid exercise of the First Renewal
Option shall be fully effective whether or not the First Renewal Amendment is executed. 

3.    Second Renewal Option.    

	3.01
	Tenant
shall have the right to extend the Term (the "Second Renewal Option") for one additional period of 6 months commencing
on the day following the Termination Date of the First Renewal Term and ending on the last day of the 6th month following the Termination Date of the First Renewal Term (the
"Second Renewal Term"), if:

	a.
	Landlord
receives notice of exercise of the Second Renewal Option ("Second Renewal Notice") not less than 3 full calendar months prior
to the expiration of the initial Term; and

	b.
	Tenant
is not in Default under the Lease beyond any applicable cure periods at the time that Tenant delivers its Second Renewal Notice; and

	c.
	No
part of the Premises is sublet (other than pursuant to a Business Transfer, as defined in Article 11 of the Lease) at the time that Tenant delivers its Second Renewal Notice;
and

	d.
	The
Lease has not been assigned (other than pursuant to a Business Transfer, as defined in Article 11 of the Lease) prior to the date that Tenant delivers its Second Renewal
Notice; and

	3.02
	The
Base Rent rate per rentable square foot for the Premises during the Second Renewal Term shall be as follows: 

	Months
 
	 	Annual Rate

Per Square Foot
	 	Annual

Base Rent
	 	Monthly

Base Rent

	01 - 06	 	$36.00	 	$158,436.00	 	$13,203.00

Base
Rent during the Second Renewal Term shall be payable in accordance with the terms and conditions of Section 4 of the Lease. 

	3.03
	Tenant
shall pay Additional Rent (i.e. Taxes and Expenses) for the Premises during the Second Renewal Term in accordance with  Exhibit B of the Lease, provided, however, during such period, the Base Year
for the computation of Tenant's Pro Rata Share of Expenses and Taxes
applicable to the Premises is 2007.

	3.04
	If
Tenant is entitled to and properly exercises its Second Renewal Option, Landlord shall prepare an amendment (the "Second Renewal
Amendment") to reflect changes in the Base Rent, Term, Termination Date and other appropriate terms. The Second Renewal Amendment shall be sent to Tenant within a reasonable
time after receipt of the Second Renewal Notice and executed by Tenant and returned to Landlord within 15 days after Tenant's receipt of same. An otherwise valid exercise of the Second Renewal
Option shall be fully effective whether or not the Second Renewal Amendment is executed. 

3

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TABLE OF CONTENTS

OFFICE LEASE AGREEMENT

EXHIBIT A OUTLINE AND LOCATION OF PREMISES

EXHIBIT B EXPENSES AND TAXES

EXHIBIT C WORK LETTER

EXHIBIT D COMMENCEMENT LETTER (EXAMPLE)

EXHIBIT E BUILDING RULES AND REGULATIONS

EXHIBIT F ADDITIONAL PROVISIONSQuickLinks
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Exhibit 10.16    
    

 
 

AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT    

        This
Amendment to Amended and Restated Credit Agreement (this "Amendment"), dated as of September 29, 2006, among GLOBALSTAR, INC., a Delaware
corporation (the "Borrower"), the Lenders party to the Credit Agreement referenced below (the "Lenders"), and WACHOVIA INVESTMENT HOLDINGS,
LLC, as administrative agent (the "Administrative Agent") for the Lenders. 

STATEMENT OF PURPOSE: 

        The
Lenders agreed to extend certain credit facilities to the Borrower pursuant to an Amended and Restated Credit Agreement dated as of August 16, 2006 by and among the Borrower,
the Lenders and the Administrative Agent (as amended, restated, supplemented, or otherwise modified from time to time, the "Credit Agreement"). 

        The
Borrower has requested that the Administrative Agent and the Required Lenders agree to amend the Credit Agreement as more specifically set forth herein. 

        The
Administrative Agent and the Required Lenders have agreed, subject to the terms and conditions set forth herein, to grant such requests of the Borrower. 

        NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 

        1.     Capitalized
Terms.    All capitalized undefined terms used in this Amendment (including, without limitation, in the statement of
purpose hereto) shall have the meanings assigned thereto in the Credit Agreement. 

        2.     Amendments.    The
Credit Agreement is hereby amended as follows: 

        (a)   Amendment
to Section 1.1 of the Credit Agreement ("Definitions"). 

          (i)  The
definition of "Applicable Cure Date" is hereby amended by replacing the date "October 13, 2006" with "November 15, 2006" in clause (a). 

         (ii)  The
definition of "Change in Control" is hereby amended by inserting the phrase ", with or without any declaration, demand or giving of notice," in clause (b) of
the definition immediately after the word "obligating." 

        (iii)  The
definition of "Excluded Equity Issuance" is hereby deleted in its entirety and replaced with the following: 

"Excluded
Equity Issuance" means (a) the first $100,000,000 of Net Cash Proceeds from any Equity Issuance (other than any Equity Issuance described in the following
clause (c) of this definition) of the Borrower following the Amended and Restated Closing Date, including, without limitation, pursuant to the IPO, (b) up to $40,000,000 of Net Cash
Proceeds from the IPO in excess of the $100,000,000 referred to in clause (a) hereof and (c) any Equity Issuance pursuant to the Irrevocable Standby Stock Purchase Agreement (including
any Equity Issuance pursuant to the exercise of pre-emptive stock purchase rights, to the extent such rights existed on the Original Closing Date, as a result of the Equity Issuance
contemplated by the Irrevocable Standby Stock Purchase Agreement). 

        (iv)  The
definition of "Lender" is hereby amended by replacing the reference to "Section 14.11" with
"Section 14.10." 

         (v)  The
definition of "Liquidity" is hereby amended by replacing the phrase "Letters of Credit" in clause (c) with the phrase "L/C Obligations." 

        (vi)  The
definition of "Required Lenders" is hereby deleted in its entirety and replaced with the following: 

"Required
Lenders" means, at any date, any combination of Lenders having more than fifty percent (50%) of the sum of (a) the aggregate amount of the Revolving
Credit Commitment (or, if the Revolving Credit Commitment has been terminated, the aggregate amount of outstanding Revolving Credit Loans, and participations in L/C Obligations and/or Swingline Loans)
plus (b) the aggregate outstanding principal amount of the Term Loan (provided that, solely for the purposes of this definition, with respect to the Delayed Draw Term Loan, prior to the Delayed
Draw Funding Date, the aggregate amount of the Delayed Draw Term Loan Commitment shall be deemed to be "outstanding"); provided that the Revolving Credit Commitment of,
Delayed Draw Term Loan Commitment of, and the portion of the Extensions of Credit, as applicable, held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination
of Required Lenders." 

       (vii)  The
following new definition of "Super Majority Lenders" is hereby inserted in correct alphabetical order: 

"Super
Majority Lenders" means, at any date, any combination of Lenders having more than (a) sixty-six and two-thirds percent
(662/3%) of the aggregate amount of the Revolving Credit Commitment (or, if the Revolving Credit Commitment has been terminated, the aggregate amount of outstanding Revolving Credit
Loans, and participations in L/C Obligations and/or Swingline Loans) and (b) sixty-six and two-thirds percent (662/3%) of the aggregate outstanding
principal amount of the Term Loan (provided that, solely for the purposes of this definition, with respect to the Delayed Draw Term Loan, prior to the Delayed Draw Funding Date, the aggregate amount
of the Delayed Draw Term Loan Commitment shall be deemed to be "outstanding"); provided that the Revolving Credit Commitment of, Delayed Draw Term Loan Commitment of, and
the portion of the Extensions of Credit, as applicable, held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Super Majority Lenders." 

        (b)   Amendment
to Section 2.2 of the Credit Agreement ("Swingline Loans").    Section 2.2(b)(ii) of the Credit Agreement
is hereby amended by inserting the following proviso at the end of such section "provided that in no event shall the amount paid by any Revolving Credit Lender with respect to any Swingline Loan
exceed an amount equal to such Revolving Credit Lender's Revolving Credit Commitment Percentage of the original amount of such Swingline Loan." 

        (c)   Amendment
to Section 4.4 of the Credit Agreement ("Prepayments of Term Loan").    Section 4.4(b)(v)
("Excess Cash Flow") is hereby amended by inserting the phrase "shall be permanently reduced" to the end of the parenthetical phrase "(or, as applicable, the Delayed Draw
Term Loan Commitment)." 

        (d)   Amendment
to Section 9.16 of the Credit Agreement ("Second Generation Satellite Constellation").    Section 9.16 of
the Credit Agreement is hereby amended by replacing the date "October 13, 2006" with "November 15, 2006." 

        (e)   Amendment
to Section 11.1(e) ("Limitations on Indebtedness").    Section 11.1(e)(iii) is hereby amended by deleting
the word "Subordinated." 

        (f)    Amendment
to Section 11.1(f) ("Limitations on Indebtedness").    Section 11.1(f)(v) is hereby amended by: 

          (i)  replacing
the word "and" immediately before subsection (ii) with a comma; 

         (ii)  replacing
the semicolon at the end of subsection (ii) with a comma; and 

        (iii)  inserting
the following subsections at the end of subsection (ii): 

"(iii) such
Indebtedness shall mature no earlier than the date which is six (6) months following the later of (x) the Term Loan Maturity Date and (y) the Revolving Credit
Maturity Date, (iv) the terms of such Indebtedness shall comply with the terms of Section 11.11 hereof and (v) such Indebtedness shall otherwise
contain terms, conditions, representations and warranties customary for such type of Indebtedness at the time such Indebtedness is incurred." 

        (g)   Amendment
to Section 11.3 ("Limitations on Loans, Advances, Investments and Acquisitions").    Section 11.3(h) is
hereby amended by inserting the phrase "in the ordinary course of business, consistent with the Borrower's equity incentive plan" immediately after the phrase "Capital Stock of the Borrower." 

        (h)   Amendment
to Section 11.6 ("Limitations on Dividends and Distributions").    Section 11.6(c) is hereby amended by
inserting the parenthetical "(other than the IPO)" immediately after the phrase "from the issue of new shares of its Capital Stock." 

        (i)    Amendment
to Section 12.1 ("Events of Default").    Section 12.1(q) is hereby deleted in its entirety and replaced
with the following: 

"(q)    Irrevocable
Standby Stock Purchase Agreement; Escrow Agreement.    The Borrower or Thermo Funding Company LLC shall breach any of their
respective obligations under either the Irrevocable Standby Stock Purchase Agreement or the Escrow Agreement, or any material provision of the Irrevocable Standby Stock Purchase Agreement or the
Escrow Agreement shall cease to be valid and binding on the parties thereto or any such Person shall so state in writing, or the Irrevocable Standby Stock Purchase Agreement or the Escrow Agreement
shall be terminated or expire, except pursuant to Equity Issuances by the Borrower of common stock under such Irrevocable Standby Stock Purchase Agreement which has resulted in Net Cash Proceeds to
the Borrower of an aggregate of $200,000,000 or otherwise in accordance with its terms." 

        (j)    Amendment
to Article XIII ("The Administrative Agent").    Article XIII is hereby amended by inserting the following
Section 13.10 after Section 13.9 thereof: 

"SECTION
13.10    Irrevocable Standby Stock Purchase Agreement and Escrow Agreement.    The Administrative Agent will not agree to any amendment,
waiver or modification to the Irrevocable Standby Stock Purchase Agreement or the Escrow Agreement which is in any manner adverse to any Lender unless such amendment, waiver or modification is
consented to by the Super Majority Lenders." 

        (k)   Amendment
to Section 14.2 of the Credit Agreement ("Amendments, Waivers and Consents").    Section 14.2 is hereby
amended by: 

          (i)  replacing
the word "or" at the end of subsection (h) with a semi-colon, and 

         (ii)  inserting
the following new subsections (j), (k), (l), (m) and (n) immediately after subsection (i): 

"(j)    waive
any of the conditions, or waive any Default or Event of Default, for purposes of waiving, or having the effect of waiving, any of the conditions set forth in
Section 6.4 that are conditions to funding Revolving Credit Loans without the prior written consent of any combination of Revolving Credit Lenders having more than
fifty percent (50%) of the aggregate amount of the Revolving Credit Commitment, or if the Revolving Credit Commitment has been terminated, the aggregate amount of outstanding Revolving Credit Loans
and participations in L/C Obligations and/or Swingline Loans; 

(k)    release
from the Guaranty Agreement any of the License Subsidiaries that are Subsidiary Guarantors (other than as authorized in Section 13.9),
without the written consent of each Lender; 

(l)    release
any Lien on the Capital Stock of any License Subsidiary without the written consent of each Lender; 

(m)    sell,
lease, transfer or otherwise dispose of any Material Communications License without the written consent of each Lender; or 

(n)    amend,
waive or otherwise modify Section 9.16, Section 9.17, Section 10.3
and Section 10.4 without the written consent of the Super Majority Lenders." 

        (l)    Amendment
to Section 14.3 of the Credit Agreement ("Expenses; Indemnity").    Section 14.3(c) is hereby amended by: 

          (i)  replacing
the term "Applicable Margin" with the phrase "ratable portion of the aggregate amount of Commitment Percentages," and 

         (ii)  replacing
the phrase "subject to the provisions of Section 5.7" with the phrase "several, not joint nor joint and several." 

        (m)  Amendment
to Sections 2.4 ("Repayment and Prepayment of Revolving Credit and Swingline Loans"), 2.5 ("Permanent Reduction of the Revolving Credit
Commitment") and 12.2 ("Remedies").    Section 2.4(b), Section 2.5(b) and Section 12.2(b) are hereby amended by replacing the phrase "then undrawn and
unexpired amount of such Letters of Credit" in each such section with the term "L/C Obligations." 

        (n)   Updated
Schedules.    The Schedules to the Credit Agreement are amended and restated in their entirety by the updated Schedules to
the Credit Agreement attached hereto. 

        3.     Conditions
to Effectiveness.    Upon the satisfaction of each of the following conditions, this Amendment shall be deemed to be
effective as of the date hereof: 

        (a)   the
Administrative Agent shall have received counterparts of this Amendment executed by the Borrower and the Required Lenders; 

        (b)   the
Administrative Agent shall have been reimbursed for all fees and out of pocket charges and other expenses incurred in connection with this Amendment, including,
without limitation, the fees and expenses referred to in Paragraph 7 of this Amendment; and 

        (c)   the
Administrative Agent shall have received such other instruments, documents and certificates as the Administrative Agent shall reasonably request in connection with
the execution of this Amendment. 

        4.     Effect
of the Amendment.    Except as expressly modified hereby, the Credit Agreement and the other Loan Documents shall be and
remain in full force and effect. This Amendment shall not be deemed (a) to be a waiver of, or consent to, a modification or amendment of, any other term or condition of the Credit Agreement or
any other Loan Document or (b) establish a course of dealing, or to prejudice any other right or rights which the Administrative Agent or the Lenders may now have or may have in the future
under or in connection with the Credit Agreement or the other Loan Documents or any of the instruments or agreements referred to therein, as the same may be amended or modified from time to time. 

        5.     Representations
and Warranties/No Default.    By its execution hereof, the Borrower hereby certifies, represents and warrants to
the Administrative Agent and the Lenders that: 

        (a)   All
Communications Licenses are held by License Subsidiaries as of the date hereof. 

        (b)   After
giving effect to the amendments set forth in Section 2(n) above, each of the representations and warranties set forth in the
Credit Agreement and the other Loan Documents is true and correct in all material respects (provided that any representation or warranty that is qualified by materiality
or by reference to Material Adverse Effect shall be true and correct in all respects) as of the date hereof as if fully set forth herein (except for any representation and warranty made as of an
earlier date, which representation and warranty shall remain true and 

correct
as of such earlier date) and that no Default or Event of Default has occurred and is continuing as of the date hereof. 

        (c)   It
has the right, power and authority and has taken all necessary corporate and other action to authorize the execution, delivery and performance of this Amendment and
each other document executed in connection herewith to which it is a party in accordance with their respective terms. 

        (d)   This
Amendment and each other document executed in connection herewith has been duly executed and delivered by the duly authorized officers of the Borrower, and each
such document constitutes the legal, valid and binding obligation of the Borrower, enforceable in accordance with its terms except as such enforceability may be limited by bankruptcy, insolvency,
reorganization, moratorium or similar state or federal debtor relief laws from time to time in effect which affect the enforcement of creditors' rights in general and the availability of equitable
remedies. 

        6.     Reaffirmations.

        (a)   Each
of the Subsidiary Guarantors (i) agrees that the transactions contemplated by this Amendment shall not limit or diminish the obligations of such Subsidiary
Guarantor under, or release such Subsidiary Guarantor from any obligations under, the Guaranty Agreement, the Collateral Agreement and each other Security Document to which such Subsidiary Guarantor
is a party, (ii) confirms and reaffirms its obligations under the Guaranty Agreement, the Collateral Agreement and each other Security Document to which such Subsidiary Guarantor is a party and
(iii) agrees that the Guaranty Agreement, the Collateral Agreement and each other Security Document to which such Subsidiary Guarantor is a party remains in full force and effect and is hereby
ratified and confirmed. 

        (b)   Thermo
Funding Company LLC (i) agrees that the transactions contemplated by this Amendment shall not limit or diminish its obligations under, or release it from
any obligations under, the Irrevocable Standby Stock Purchase Agreement or the Escrow Agreement, (ii) confirms and reaffirms its obligations under each of the Irrevocable Standby Stock Purchase
Agreement and the Escrow Agreement and (iii) agrees that each of the Irrevocable Standby Stock Purchase Agreement and the Escrow Agreement remains in full force and effect and is hereby
ratified and confirmed. 

        (c)   Each
party hereto acknowledges and agrees that each of the Irrevocable Standby Stock Purchase Agreement and the Escrow Agreement is a "Loan Document" as defined in the
Credit Agreement. 

        7.     Fees
and Expenses.    The Borrower shall pay all reasonable out-of-pocket fees and expenses of the
Administrative Agent in connection with the preparation, execution and delivery of this Amendment, including, without limitation, the reasonable fees and disbursements of counsel for the
Administrative Agent. 

        8.     Governing
Law.    This Amendment shall be governed by, and construed in accordance with, the law of the State of New York
(including Section 5-1401 and Section 5-1402 of the General Obligations Law of the State of New York). 

        9.     Counterparts.    This
Amendment may be executed in separate counterparts, each of which when executed and delivered is an original
but all of which taken together constitute one and the same instrument. 

        10.   Facsimile
Transmission.    A facsimile, telecopy or other reproduction of this Amendment may be executed by one or more parties
hereto, and an executed copy of this Amendment may be delivered by one or more parties hereto by facsimile or similar instantaneous electronic transmission device pursuant to which the signature of or
on behalf of such party can be seen, and such execution and delivery shall be considered valid, binding and effective for all purposes. At the request of any party 

hereto,
all parties hereto agree to execute an original of this Amendment as well as any facsimile, telecopy or other reproduction hereof. 

[Signature
Pages Follow] 

        IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the date and year first above written. 

	 	BORROWER:
	

 	
GLOBALSTAR, INC., as Borrower
	

 	

By:	

/s/ Fuad Ahmad

	 	 	Name:	Fuad Ahmad
	 	 	Title:	Vice President and CFO
	

 	
GUARANTORS:
	

 	
GLOBALSTAR LEASING LLC, as Subsidiary Guarantor
	

 	

By:	

/s/ James Monroe III

	 	 	Name:	James Monroe III
	 	 	Title:	President
	

 	
GLOBALSTAR C, LLC, as Subsidiary Guarantor
	

 	

By:	

/s/ Fuad Ahmad

	 	 	Name:	Fuad Ahmad
	 	 	Title:	Treasurer
	

 	
GLOBALSTAR SECURITY SERVICES, LLC,

as Subsidiary Guarantor
	

 	

By:	

Anthony J. Navarra

	 	 	Name:	Anthony J. Navarra
	 	 	Title:	President

[Signature Pages Continue] 

	 	GSSI, LLC, as Subsidiary Guarantor
	

 	

By:	

/s/ Fuad Ahmad

	 	 	Name:	Fuad Ahmad
	 	 	Title:	Treasurer
	

 	
ATSS CANADA, INC., as Subsidiary Guarantor
	

 	

By:	

/s/ Fuad Ahmad

	 	 	Name:	Fuad Ahmad
	 	 	Title:	Treasurer
	

 	
GLOBALSTAR USA, LLC, as Subsidiary Guarantor
	

 	

By:	

/s/ Fuad Ahmad

	 	 	Name:	Fuad Ahmad
	 	 	Title:	Treasurer

[Signature Pages Continue] 

	 	WACHOVIA INVESTMENT HOLDINGS, LLC, as Administrative Agent, Swingline Lender, Issuing Lender and Lender
	

 	

By:	

/s/ Marc A. Birenbaum

	 	 	Name:	Marc A. Birenbaum
	 	 	Title:	Director

[Signature Pages Continue] 

	 	BEAR STEARNS CREDIT PRODUCTS INC., as a Lender
	

 	

By:	

/s/ Jeffery Tuck

	 	 	Name:	Jeffery Tuck
	 	 	Title:	Authorized Signatory

[Signature Pages Continue] 

	Acknowledged and accepted:	 
	
THERMO FUNDING COMPANY LLC	

 
	

By:	

/s/ James Monroe III
	

 
	 	Name:	James Monroe III	 
	 	Title:	Manager	 

QuickLinks

Exhibit 10.16

AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

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