Common use of Payment of Taxes and Operating Expenses Clause in Contracts

Payment of Taxes and Operating Expenses. It is agreed that during each Lease Year beginning with the first month of the second Lease Year and each month thereafter during the original Lease Term, or any extension thereof, Tenant shall pay to Landlord as Additional Rent, at the same time as the Monthly Rent is paid, an amount equal to one-twelfth (1/12) of Landlord’s estimate (as determined by Landlord in its reasonable discretion) of Tenant’s Pro Rata Share of any projected increase in the Taxes or Operating Expenses for the particular Lease Year in excess of the Tax Base or Operating Expenses Base, as the case may be (the “Estimated Escalation Increase”). Landlord shall make a final adjustment (the “Escalation Reconciliation”) showing the extent that the Operating Expense escalation (the “Operating Expense Escalation”) is Ring Central, Inc. Lease 7 different from the Estimated Escalation Increase upon which Tenant paid Rent during the Lease Year just completed, which shall be submitted to Tenant as described in the next paragraph. In computing the Estimated Escalation Increase for any particular Lease Year, Landlord shall take into account any prior increases in Tenant’s Pro Rata Share of Taxes and Operating Expenses. If during any Lease Year the Estimated Escalation Increase is less than the Estimated Escalation Increase for the previous Lease Year on which Tenant’s share of Taxes and Operating Expenses were based for said year, such Additional Rent payments, attributable to Estimated Escalation Increase, to be paid by Tenant for the new Lease Year shall be decreased accordingly; provided, however, in no event will the Rent paid by Tenant hereunder ever be less than the Monthly Rent plus all other amounts of Additional Rent. As soon as practicable following the end of each Lease Year, Landlord shall submit to Tenant a statement setting forth the Estimated Escalation Increase, if any. Beginning with said statement for the third Lease Year, it shall also set forth the Escalation Reconciliation for the Lease Year just completed. To the extent that the Operating Expense Escalation is different from the Estimated Escalation Increase upon which Tenant paid Rent during the Lease Year just completed, Tenant shall pay Landlord the difference in cash within thirty (30) days following receipt by Tenant of such statement from Landlord, or receive a credit from Landlord on future Rent owing hereunder (or cash if there is no future Rent owing hereunder) as the case may be. Until Tenant receives such statement, Tenant’s Rent for the new Lease Year shall continue to be paid at the rate being paid for the particular Lease Year just completed, but Tenant shall commence payment to Landlord of the monthly installment of Additional Rent on the basis of said statement beginning on the first day of the month following the month in which Tenant receives such statement. In addition to the above, if, during any particular Lease Year, there is a change in the information on which Landlord based the estimate upon which Tenant is then making its estimated payment of Taxes and Operating Expenses so that such Estimated Escalation Increase furnished to Tenant is no longer accurate, Landlord shall be permitted to revise such Estimated Escalation Increase by notifying Tenant, and there shall be such adjustments made in the Additional Rent on the first day of the month following the serving of such statement on Tenant as shall be necessary by either increasing or decreasing, as the case may be, the amount of Additional Rent then being paid by Tenant for the balance of the Lease Year (but in no event shall any such decrease result in a reduction of the Rent below the Monthly Rent plus all other amounts of Additional Rent) Notwithstanding the foregoing, in no event shall Taxes for the Base Year be lowered by any abatement or reduction on Taxes by reason of a Proposition 8 reduction or otherwise. Landlord’s and Tenant’s responsibilities with respect to the Tax and Operating Expense adjustments described herein shall survive the expiration or early termination of this Lease. If the Building is not fully occupied during any particular Lease Year, including Calendar Year 2011, Landlord shall adjust those Operating Expenses which are affected by Building occupancy for the particular Lease Year, or portion thereof, as the case may be, to reflect an occupancy of not less than ninety-five percent (95%) of all such rentable area of the Building.

Payment of Taxes and Operating Expenses. It is agreed that during each Lease Year beginning with the first month of the second Lease Year 2004 and each month thereafter during the original Lease Term, or any extension thereof, ; Tenant shall pay to Landlord as Additional Rent, at the same time as the Monthly Rent is paid, an amount equal to one-twelfth (1/12) of Landlord’s 's estimate (as determined by Landlord in its reasonable sole discretion) of Tenant’s 's Pro Rata Share of any projected increase in the Taxes or Operating Expenses for the particular Lease Year in excess of the Tax Base or Operating Expenses Base, as the case may be (the “"Estimated Escalation Increase”"). Landlord shall make a A final adjustment (the “"Escalation Reconciliation”") showing shall be made between the extent that parties as soon as practicable following the Operating Expense escalation (the “Operating Expense Escalation”) is Ring Central, Inc. Lease 7 different from the Estimated Escalation Increase upon which Tenant paid Rent during the end of each Lease Year just completed, which shall be submitted to Tenant as described in comparing the next paragraph. In computing the Estimated Escalation Increase for any particular Lease Year, Landlord shall take into account any prior increases actual increase in Tenant’s 's Pro Rata Share of Taxes and or Operating Expenses. If during any Lease Year Expenses in excess of the Tax Base or the Operating Expenses Base, as the case may be, to the Estimated Escalation Increase is less than the Estimated Escalation Increase for the previous Lease Year on which Tenant’s share of Taxes and Operating Expenses were based for said year, such Additional Rent payments, attributable to Estimated Escalation Increase, to be paid by Tenant for the new Lease Year shall be decreased accordingly; provided, however, in no event will the Rent paid by Tenant hereunder ever be less than the Monthly Rent plus all other amounts of Additional Rent. As soon as practicable following the end of each Lease Year, Landlord shall submit to Tenant a statement setting forth the Estimated Escalation Increase, if anyIncrease for the following Lease Year. Beginning with said statement for the third second Lease Year, it shall also set forth the Escalation Reconciliation for the Lease Year just completed. , To the extent that the Operating Expense Escalation Reconciliation is different from the Estimated Escalation Increase upon which Tenant paid Rent during the Lease Year just completed, Tenant shall pay Landlord the difference in cash within thirty (30) days following receipt by Tenant of such statement from Landlord, or receive a credit from Landlord on future Rent owing hereunder (or cash if there is no future Rent owing hereunder) as the case may be. Until Tenant receives such statement, Tenant’s Additional Rent for the new Lease Year shall continue to be paid at the rate being paid for the particular Lease Year just completed, but Tenant shall commence payment to Landlord of the monthly installment of Additional Rent on the basis of said statement beginning on the first day of the month following the month in which Tenant receives such statement. In addition to the above, if, during any particular Lease Year, there is a change in the information on which Landlord based the estimate upon which Tenant is then making its estimated payment of Taxes and Operating Expenses Estimated Escalation Increase so that such Estimated Escalation Increase furnished to Tenant is no longer accurate, Landlord shall be permitted to revise such Estimated Escalation Increase by notifying Tenant, and there shall be such adjustments made in the Additional Rent on the first day of the month following the serving of such statement on Tenant as shall be necessary by either increasing or decreasing, as the case may be, the amount of Additional Rent then being paid by Tenant for the balance of the Lease Year (but in no event shall any such decrease result in a reduction of the Rent rent below the Monthly Rent plus all other amounts of Additional Rent) Notwithstanding the foregoing, in no event shall Taxes for the Base Year be lowered by any abatement or reduction on Taxes by reason of a Proposition 8 reduction or otherwise). Landlord’s 's and Tenant’s 's responsibilities with respect to the Tax and Operating Expense adjustments Additional Rent described herein shall survive the expiration or early termination of this Lease. If the Building is not fully occupied during any particular Lease Year, including Calendar Year 2011, Landlord shall may adjust those Operating Expenses which are affected by Building occupancy for the particular Lease Year, or portion thereof, as the case may be, to reflect an occupancy of not less than ninety-five percent (95%) of all such rentable area of the Building.

Payment of Taxes and Operating Expenses. It is agreed that during each Lease Year beginning with the first month of the second Lease Year and each month thereafter during the original Lease Term, or any extension thereof, Tenant shall pay to Landlord as Additional Rent, at the same time as the Monthly Rent is paid, an amount equal to one-twelfth (1/12) of Landlord’s 's estimate (as determined by Landlord in its reasonable sole discretion) of Tenant’s 's Pro Rata Share of any projected increase in the Taxes or Operating Expenses for the particular Lease Year in excess of the Tax Base or Operating Expenses Base, as the case may be (the “"Estimated Escalation Increase”"). Landlord shall make a A final adjustment (the “"Escalation Reconciliation”") showing to be made between the extent that parties as soon as practicable following the Operating Expense escalation end of each Lease Year, but in no event later than ninety (90) days after the “Operating Expense Escalation”) is Ring Central, Inc. end of each Lease 7 different from the Estimated Escalation Increase upon which Tenant paid Rent during the Lease Year just completed, which shall be submitted to Tenant as described in the next paragraphYear. In computing the Estimated Escalation Increase for any particular Lease Year, Landlord shall take into account any prior increases in Tenant’s 's Pro Rata Share of Taxes and Operating Expenses. If during any Lease Year the Estimated Escalation Increase is less than the Estimated Escalation Increase for the previous Lease Year on which Tenant’s 's share of Taxes and Operating Expenses were based for said year, such Additional Rent payments, attributable to Estimated Escalation Increase, to be paid by Tenant for the new Lease Year shall be decreased accordingly; provided, however, in no event will the Rent paid by Tenant hereunder ever be less than the Monthly Rent plus all other amounts of Additional Rent. As soon as practicable following the end of each Lease Year, Landlord shall submit to Tenant a statement setting forth the Estimated Escalation Increase, if any. Beginning with said statement for the third second Lease Year, it shall also set forth the Escalation Reconciliation for the Lease Year just completed. To the extent that the Operating Expense Escalation is different from the Estimated Escalation Increase upon which Tenant paid Rent during the Lease Year just completed, Tenant shall pay Landlord the difference in cash within thirty (30) days following receipt by Tenant of such statement from Landlord, or receive a credit from Landlord on future Rent owing hereunder (or cash if there is no future Rent owing hereunder) as the case may be. Until Tenant receives such statement, Tenant’s 's Rent for the new Lease Year shall continue to be paid at the rate being paid for the particular Lease Year just completed, but Tenant shall commence payment to Landlord of the monthly installment of Additional Rent on the basis of said statement beginning on the first day of the month following the month in which Tenant receives such statement. In addition to the above, if, during any particular Lease Year, there is a change in the information on which Landlord based the estimate upon which Tenant is then making its estimated payment of Taxes and Operating Expenses so that such Estimated Escalation Increase furnished to Tenant is no longer accurate, Landlord shall be permitted to revise such Estimated Escalation Increase by notifying Tenant, and there shall be such adjustments made in the Additional Rent on the first day of the month following the serving of such statement on Tenant as shall be necessary by either increasing or decreasing, as the case may be, the amount of Additional Rent then being paid by Tenant for the balance of the Lease Year (but in no event shall any such decrease result in a reduction of the Rent rent below the Monthly Rent plus all other amounts of Additional Rent) Notwithstanding the foregoing, in no event shall Taxes for the Base Year be lowered by any abatement or reduction on Taxes by reason of a Proposition 8 reduction or otherwise). Landlord’s 's and Tenant’s 's responsibilities with respect to the Tax and Operating Expense adjustments described herein shall survive the expiration or early termination of this Lease. If the Building is not fully occupied during any particular Lease Year, including Calendar Year 2011, Landlord shall may adjust those Operating Expenses which are affected by Building occupancy for the particular Lease Year, or portion thereof, as the case may be, to reflect an occupancy of not less than ninety-five percent (95%) of all such rentable area of the Building.

Payment of Taxes and Operating Expenses. It is agreed that during On or about the Commencement Date, and thereafter within a reasonable time after the end of each Lease Year beginning with fiscal year (or portion thereof) included in the first month of the second Lease Year and each month thereafter during the original Lease Term, Lessor shall deliver to Lessee (i) a statement of actual Operating Expenses and Taxes for the fiscal year just ended, together with reasonable supporting documentation therefor, and (ii) a budget of Operating Expenses and Taxes for the then-current fiscal year based on the actual Operating Expenses and Taxes for the preceding year and projected increases or any extension thereof, Tenant decreases reasonably anticipated by Lessor. Commencing on the Commencement Date Lessee shall pay to Landlord Lessor, as Additional Rent, at on account of its share of anticipated Operating Expenses and Taxes for the same time then-current year, 1/12th of the total annualized amount of Lessee's Share of Operating Expenses and Taxes as shown on such budget (but if such budget is delivered by Lessor after the Monthly Commencement Date, then Lessee shall commence such payments on the next day on which Basic Rent is paiddue and payable hereunder after such delivery, an amount equal to one-twelfth (1/12) of Landlord’s estimate (as determined by Landlord in its reasonable discretion) of Tenant’s Pro Rata Share of any projected increase in the Taxes or Operating Expenses for the particular Lease Year in excess of the Tax Base or Operating Expenses Base, as the case may be (the “Estimated Escalation Increase”). Landlord but Lessee shall make a final adjustment (the “Escalation Reconciliation”) showing the extent that the Operating Expense escalation (the “Operating Expense Escalation”) is Ring Central, Inc. Lease 7 different from the Estimated Escalation Increase upon which Tenant paid Rent during the Lease Year just completed, which shall be submitted to Tenant as described in the next paragraph. In computing the Estimated Escalation Increase for any particular Lease Year, Landlord shall take into account any prior increases in Tenant’s Pro Rata Share of Taxes and Operating Expenses. If during any Lease Year the Estimated Escalation Increase is less than the Estimated Escalation Increase for the previous Lease Year pay on which Tenant’s share such date all installments of Taxes and Operating Expenses were based accrued from the Commencement Date to such date). Lessor reserves the right to revise the budget during any fiscal year to cause it to more accurately reflect the actual Taxes or Operating Expenses being paid or incurred by Lessor, and upon any such revision the parties shall make adjustments in the same time and manner as hereinafter provided for said fiscal year-end adjustments. Upon delivery to Lessee of the statement of actual Operating Expenses and Taxes for the preceding fiscal year, such Additional Rent payments, attributable to Estimated Escalation Increase, to be Lessor shall adjust Lessee's account accordingly. If the total amount paid by Tenant for Lessee on account of the new Lease Year shall be decreased accordingly; provided, however, in no event will the Rent paid by Tenant hereunder ever be preceding fiscal year is less than the Monthly Rent plus all other amounts of Additional Rent. As soon as practicable following the end of each Lease Yearamount due hereunder, Landlord shall submit to Tenant a statement setting forth the Estimated Escalation Increase, if any. Beginning with said statement for the third Lease Year, it shall also set forth the Escalation Reconciliation for the Lease Year just completed. To the extent that the Operating Expense Escalation is different from the Estimated Escalation Increase upon which Tenant paid Rent during the Lease Year just completed, Tenant Lessee shall pay Landlord the difference in cash balance due within thirty twenty (3020) days following receipt after delivery by Tenant Lessor of such statement from Landlord, or receive a credit from Landlord statement. If the total amount paid by Lessee on future Rent owing hereunder (or cash if there is no future Rent owing hereunder) as the case may be. Until Tenant receives such statement, Tenant’s Rent for the new Lease Year shall continue to be paid at the rate being paid for the particular Lease Year just completed, but Tenant shall commence payment to Landlord account of the preceding fiscal year exceeds the amount due hereunder, such excess shall be credited by Lessor against the monthly installment installments of Additional Rent on the basis of said statement beginning on the first day of the month following the month in which Tenant receives such statement. In addition next falling due or refunded to the above, if, during any particular Lease Year, there is a change in the information on which Landlord based the estimate Lessee upon which Tenant is then making its estimated payment of Taxes and Operating Expenses so that such Estimated Escalation Increase furnished to Tenant is no longer accurate, Landlord shall be permitted to revise such Estimated Escalation Increase by notifying Tenant, and there shall be such adjustments made in the Additional Rent on the first day of the month following the serving of such statement on Tenant as shall be necessary by either increasing or decreasing, as the case may be, the amount of Additional Rent then being paid by Tenant for the balance of the Lease Year (but in no event shall any such decrease result in a reduction of the Rent below the Monthly Rent plus all other amounts of Additional Rent) Notwithstanding the foregoing, in no event shall Taxes for the Base Year be lowered by any abatement or reduction on Taxes by reason of a Proposition 8 reduction or otherwise. Landlord’s and Tenant’s responsibilities with respect to the Tax and Operating Expense adjustments described herein shall survive the expiration or early termination of this Lease. If Lessor's current fiscal year is July 1-June 30, but Lessor reserves the Building is not fully occupied right to change the fiscal year at any time during any particular Lease Year, including Calendar Year 2011, Landlord shall adjust those Operating Expenses which are affected by Building occupancy for the particular Lease Year, or portion thereof, as the case may be, to reflect an occupancy of not less than ninety-five percent (95%) of all such rentable area of the BuildingTerm.

Payment of Taxes and Operating Expenses. It Commencing upon the expiration of the Base Year (i.e., January 1, 2017 for Operating Expenses and July 1, 2016 for Taxes) and for each year, or portion thereof, thereafter during the Term (hereinafter each referred to as a “Comparison Year”), Tenant shall pay Landlord an amount equal to Tenant’s Pro Rata Share of increases in Operating Expenses and Taxes over the Operating Expenses and Taxes for the relevant Base Year (collectively, the “Escalation Increase”). Landlord shall have the right to change the Comparison Year from a calendar year to a fiscal year from time to time (or vice versa), provided that equitable adjustment is agreed made so that during each Lease Year beginning Tenant shall not be charged more than once for the same period. Commencing with the first (1st) month of the second Lease first (1st) Comparison Year and on the first (1st) day of each month thereafter during the original Lease Term, Term or any extension thereof, Tenant shall pay Escalation Increases to Landlord Landlord, as Additional Rent due concurrently with Monthly Base Rent, at the same time as the Monthly Rent is paid, an amount in installments equal to one-twelfth (1/12) of Landlord’s commercially reasonable estimate (as determined by Landlord in its reasonable discretion) of Tenant’s Pro Rata Share of any projected increase in the Taxes or Operating Expenses Escalation Increase for the particular Lease Comparison Year in excess of the Tax Base or Operating Expenses Base, as the case may be (the “Estimated Escalation Increase”). Landlord shall make a A final adjustment (the “Escalation Reconciliation”) showing the extent that the Operating Expense escalation (the “Operating Expense Escalation”) is Ring Central, Inc. Lease 7 different from the Estimated Escalation Increase upon which Tenant paid Rent during the Lease Year just completed, which shall be submitted to made by Landlord and Tenant as described soon as practicable (but in any event within one hundred twenty (120) days) following the next paragraphend of each Comparison Year. In computing the Estimated Escalation Increase for any particular Lease Comparison Year, Landlord shall take into account any prior increases in Tenant’s Pro Rata Share of Taxes and Operating Expenses. Landlord’s Estimated Escalation Increase for Taxes in any Comparison Year will not exceed the Taxes then reflected on Landlord’s real estate tax xxxx from the City of Boston. If during any Lease Year the Estimated Escalation Increase is less than the Estimated Escalation Increase for the previous Lease Year on which Tenant’s share of Taxes and Operating Expenses were based for said yearimmediately preceding Comparison Year, such Additional Rent payments, attributable to Estimated Escalation Increase, the payments to be paid by Tenant for the new Lease Comparison Year attributable to said Estimated Escalation Increase shall be decreased accordingly; provided, however, in no event will the Rent paid by Tenant hereunder ever be less than the Monthly Rent plus all other amounts of Additional Base Rent. As soon as practicable following the end of each Lease Year, Landlord shall submit to Tenant a statement setting forth the Estimated Escalation Increase, if any. Beginning with said statement for the third Lease Year, it shall also set forth the Escalation Reconciliation for the Lease Year just completed. To the extent that the Operating Expense Escalation is different from the Estimated Escalation Increase upon which Tenant paid Rent during the Lease Year just completed, Tenant shall pay Landlord the difference in cash within thirty (30) days following receipt by Tenant of such statement from Landlord, or receive a credit from Landlord on future Rent owing hereunder (or cash if there is no future Rent owing hereunder) as the case may be. Until Tenant receives such statement, Tenant’s Rent for the new Lease Year shall continue to be paid at the rate being paid for the particular Lease Year just completed, but Tenant shall commence payment to Landlord of the monthly installment of Additional Rent on the basis of said statement beginning on the first day of the month following the month in which Tenant receives such statement. In addition to the above, if, during any particular Lease Year, there is a change in the information on which Landlord based the estimate upon which Tenant is then making its estimated payment of Taxes and Operating Expenses so that such Estimated Escalation Increase furnished to Tenant is no longer accurate, Landlord shall be permitted to revise such Estimated Escalation Increase by notifying Tenant, and there shall be such adjustments made in the Additional Rent on the first day of the month following the serving of such statement on Tenant as shall be necessary by either increasing or decreasing, as the case may be, the amount of Additional Rent then being paid by Tenant for the balance of the Lease Year (but in no event shall any such decrease result in a reduction of the Rent below the Monthly Rent plus all other amounts of Additional Rent) Notwithstanding the foregoing, in no event shall Taxes for the Base Year be lowered by any abatement or reduction on Taxes by reason of a Proposition 8 reduction or otherwise. Landlord’s and Tenant’s responsibilities with respect to the Tax and Operating Expense adjustments described herein shall survive the expiration or early termination of this Lease. If the Building is not fully occupied during any particular Lease Year, including Calendar Year 2011, Landlord shall adjust those Operating Expenses which are affected by Building occupancy for the particular Lease Year, or portion thereof, as the case may be, to reflect an occupancy of not less than ninety-five percent (95%) of all such rentable area of the Building.

Payment of Taxes and Operating Expenses. It is agreed that during each Lease Year beginning with the first month of the second Lease Year and each month thereafter during the original Lease Term, or any extension thereof, Tenant shall pay to Landlord as an Additional Rent, at the same time as the Monthly Rent is paid, an amount equal to one-twelfth (1/12) of Landlord’s 's estimate (as determined by Landlord in its reasonable sole discretion) of Tenant’s 's Pro Rata Share of any projected increase in the Taxes or Operating Expenses for the particular Lease Year in excess of the Tax Base or Operating Expenses Base, as the case may be (the “"Estimated Escalation Increase”"). Landlord shall make a A final adjustment (the “"Escalation Reconciliation”") showing shall be made between the extent that parties as soon as practicable following the Operating Expense escalation (the “Operating Expense Escalation”) is Ring Central, Inc. Lease 7 different from the Estimated Escalation Increase upon which Tenant paid Rent during the end of each Lease Year just completed, which shall be submitted to Tenant as described in comparing the next paragraph. In computing the Estimated Escalation Increase for any particular Lease Year, Landlord shall take into account any prior increases actual increase in Tenant’s 's Pro Rata Share of Taxes and or Operating Expenses. If during any Lease Year Expenses in excess of the Tax Base or the Operating Expenses Base, as the case may be, to the Estimated Escalation Increase is less than the Estimated Escalation Increase for the previous Lease Year on which Tenant’s share of Taxes and Operating Expenses were based for said year, such Additional Rent payments, attributable to Estimated Escalation Increase, to be paid by Tenant for the new Lease Year shall be decreased accordingly; provided, however, in no event will the Rent paid by Tenant hereunder ever be less than the Monthly Rent plus all other amounts of Additional Rent. As soon as practicable following the end of each Lease Year, Landlord shall submit to Tenant a statement setting forth the Estimated Escalation Increase, if anyIncrease for the following Lease Year. Beginning with said statement for the third second Lease Year, it shall also set forth the Escalation Reconciliation for the Lease Year just completed. To the extent that the Operating Expense Escalation Reconciliation is different from the Estimated Escalation Increase upon which Tenant paid Rent during the Lease Year just completed, Tenant shall pay Landlord the difference in cash within thirty (30) days following receipt by Tenant of such statement from Landlord, or receive a credit from Landlord on future Rent owing hereunder (or cash if there is no future Rent owing hereunder) as the case may be. Until Tenant receives such statement, Tenant’s Additional Rent for the new Lease Year shall continue to be paid at the rate being paid for the particular Lease Year just completed, but Tenant shall commence payment to Landlord of the monthly installment of Additional Rent on the basis of said statement beginning on the first day of the month following the month in which Tenant receives such statement. In addition to the above, if, during any particular Lease Year, there is a change in the information on which Landlord based the estimate upon which Tenant is then making its estimated payment of Taxes and Operating Expenses Estimated Escalation Increase so that such Estimated Escalation Increase furnished to Tenant is no longer accurate, Landlord shall be permitted to revise such Estimated Escalation Increase by notifying Tenant, and there shall be such adjustments made in the Additional Rent on the first day of the month following the serving of such statement on Tenant as shall be necessary by either increasing or decreasing, as the case may be, the amount of Additional Rent then being paid by Tenant for the balance of the Lease Year (but in no event shall any such decrease result in a reduction of the Rent rent below the Monthly Rent rent plus all other amounts of Additional Rent) Notwithstanding the foregoing), in no event shall Taxes for the Base Year be lowered by any abatement or reduction on Taxes by reason of a Proposition 8 reduction or otherwisePROVIDED, HOWEVER, THAT IN NO EVENT SHALL ANY SUCH REVISION ADJUSTMENT BE MADE MORE THAN ONE TIME IN ANY LEASE YEAR. Landlord’s 's and Tenant’s 's responsibilities with respect to the Tax and Operating Expense adjustments Additional Rent described herein shall survive the expiration or early termination of this Lease. If the Building is not fully occupied during any particular Lease Year, including Calendar Year 2011, Landlord shall may adjust those Operating Expenses which are affected by Building occupancy for the particular Lease Year, or portion thereof, as the case may be, to reflect an occupancy of not less than ninety-five percent (95%) of all such rentable area of the Building.

Payment of Taxes and Operating Expenses. It Commencing upon the expiration of the Base Year and for each year, or portion thereof, thereafter during the Term (hereinafter each referred to as a “Comparison Year”), Tenant shall pay Landlord an amount equal to Tenant’s Pro Rata Share of increases in Operating Expenses and Taxes over the Operating Expenses and Taxes for the Base Year for Operating Expenses and the Base Year for Taxes, respectively (collectively, the “Escalation Increase”). Landlord shall have the right to change the Comparison Year from a calendar year to a fiscal year from time to time (or vice versa), provided that equitable adjustment is agreed made so that Tenant shall not be charged more than once for the same period and such adjustment does not result in an increase in the Escalation Increase (other than an increase related solely to Operating Expenses being greater during each Lease the new time period than they were during the previous time period). As soon as practicable following the end of the Base Year beginning for Operating Expenses and the Base Year for Taxes, respectively, but in any event within one hundred twenty (120) days after the last day of such Base Year, Landlord shall provide a statement setting forth the actual Operating Expenses or Taxes, as the case may be, for the respective Base Year (each, a “Base Year Statement”). Commencing with the first (1st) month of the second Lease first (1st) Comparison Year and on the first (1st) day of each month thereafter during the original Lease Term, Term or any extension thereof, Tenant shall pay Escalation Increases to Landlord Landlord, as Additional Rent due concurrently with Monthly Base Rent, at the same time as the Monthly Rent is paid, an amount in installments equal to one-twelfth (1/12) of Landlord’s estimate (as determined by Portions of this Exhibit, indicated by the xxxx “[***],” were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. Landlord in its reasonable discretion) of Tenant’s Pro Rata Share of any projected increase in the Taxes or Operating Expenses Escalation Increase for the particular Lease Comparison Year in excess of the Tax Base or Operating Expenses Base, as the case may be (the “Estimated Escalation Increase”). Landlord shall make a final adjustment (the “Escalation Reconciliation”) showing the extent that the Operating Expense escalation (the “Operating Expense Escalation”) is Ring Central, Inc. Lease 7 different from the Estimated Escalation Increase upon which Tenant paid Rent during the Lease Year just completed, which shall be submitted to Tenant as described in the next paragraph. In computing the Estimated Escalation Increase for any particular Lease Comparison Year, Landlord shall take into account any prior increases in Tenant’s Pro Rata Share of Taxes Operating Expenses and Operating ExpensesTaxes. If during any Lease Year the Estimated Escalation Increase is less than the Estimated Escalation Increase for the previous Lease Year on which Tenant’s share of Taxes and Operating Expenses were based for said yearimmediately preceding Comparison Year, such Additional Rent payments, attributable to Estimated Escalation Increase, the payments to be paid by Tenant for the new Lease Comparison Year attributable to said Estimated Escalation Increase shall be decreased accordingly; provided, however, in no event will the Rent paid by Tenant hereunder ever be less than the Monthly Rent plus all other amounts of Additional Base Rent. As soon as practicable following the end of each Lease Year, Landlord shall submit to Tenant a statement setting forth the Estimated Escalation Increase, if any. Beginning with said statement for the third Lease Year, it shall also set forth the Escalation Reconciliation for the Lease Year just completed. To the extent that the Operating Expense Escalation is different from the Estimated Escalation Increase upon which Tenant paid Rent during the Lease Year just completed, Tenant shall pay Landlord the difference in cash within thirty (30) days following receipt by Tenant of such statement from Landlord, or receive a credit from Landlord on future Rent owing hereunder (or cash if there is no future Rent owing hereunder) as the case may be. Until Tenant receives such statement, Tenant’s Rent for the new Lease Year shall continue to be paid at the rate being paid for the particular Lease Year just completed, but Tenant shall commence payment to Landlord of the monthly installment of Additional Rent on the basis of said statement beginning on the first day of the month following the month in which Tenant receives such statement. In addition to the above, if, during any particular Lease Year, there is a change in the information on which Landlord based the estimate upon which Tenant is then making its estimated payment of Taxes and Operating Expenses so that such Estimated Escalation Increase furnished to Tenant is no longer accurate, Landlord shall be permitted to revise such Estimated Escalation Increase by notifying Tenant, and there shall be such adjustments made in the Additional Rent on the first day of the month following the serving of such statement on Tenant as shall be necessary by either increasing or decreasing, as the case may be, the amount of Additional Rent then being paid by Tenant for the balance of the Lease Year (but in no event shall any such decrease result in a reduction of the Rent below the Monthly Rent plus all other amounts of Additional Rent) Notwithstanding the foregoing, in no event shall Taxes for the Base Year be lowered by any abatement or reduction on Taxes by reason of a Proposition 8 reduction or otherwise. Landlord’s and Tenant’s responsibilities with respect to the Tax and Operating Expense adjustments described herein shall survive the expiration or early termination of this Lease. If the Building is not fully occupied during any particular Lease Year, including Calendar Year 2011, Landlord shall adjust those Operating Expenses which are affected by Building occupancy for the particular Lease Year, or portion thereof, as the case may be, to reflect an occupancy of not less than ninety-five percent (95%) of all such rentable area of the Building.

Payment of Taxes and Operating Expenses. It is agreed that during each Lease Year beginning with the first month Commencing as of the second Lease Year and each month thereafter during the original Lease Term, or any extension thereofRent Commencement Date, Tenant shall pay Tenant's Share and Project Share of Operating Expenses and Taxes (collectively; "Expenses") incurred by Landlord during each Lease Year. To implement the foregoing, promptly following the commencement of the Term and prior to the commencement of each subsequent Lease Year (or as soon thereafter as practicable), Landlord as Additional Rentshall estimate the Expenses payable by Tenant for such Lease Year pursuant to this Section. Tenant shall pay to Landlord, at on the same time as the Monthly Rent is paidfirst day of each month, an amount equal to in advance, one-twelfth (1/121112) of Landlord’s estimate (as determined 's estimated amount. If at any time during the course of the year Landlord determines that the Expenses payable by Tenant will vary from the then estimated amount, by notice to Tenant Landlord in its reasonable discretion) may revise the amount payable by Tenant during the balance of Tenant’s Pro Rata Share the Lease Year such that the total estimated additional amount due from Tenant for such Lease Year is paid by Tenant during the balance of any projected increase in the Taxes or Operating Expenses for the particular Lease Year in excess of equal monthly amounts. Within one hundred twenty (120) days (or as soon thereafter as practicable) after the Tax Base or Operating Expenses Base, as the case may be (the “Estimated Escalation Increase”). Landlord shall make a final adjustment (the “Escalation Reconciliation”) showing the extent that the Operating Expense escalation (the “Operating Expense Escalation”) is Ring Central, Inc. Lease 7 different from the Estimated Escalation Increase upon which Tenant paid Rent during the Lease Year just completed, which shall be submitted to Tenant as described in the next paragraph. In computing the Estimated Escalation Increase for any particular Lease Year, Landlord shall take into account any prior increases in Tenant’s Pro Rata Share of Taxes and Operating Expenses. If during any Lease Year the Estimated Escalation Increase is less than the Estimated Escalation Increase for the previous Lease Year on which Tenant’s share of Taxes and Operating Expenses were based for said year, such Additional Rent payments, attributable to Estimated Escalation Increase, to be paid by Tenant for the new Lease Year shall be decreased accordingly; provided, however, in no event will the Rent paid by Tenant hereunder ever be less than the Monthly Rent plus all other amounts of Additional Rent. As soon as practicable following the end close of each Lease Year, Landlord shall submit to provide Tenant with a statement setting forth to account for any difference between the Estimated Escalation Increase, if any. Beginning with said statement actual and the estimated Expenses for the third previous Lease Year. If such statement is not given for any Lease Year, it Tenant shall also set forth continue to pay on the Escalation Reconciliation for basis of the prior Lease Year just completedYear's estimate until the month after such notice is given. To Landlord's annual statement shall be final and binding upon Tenant unless, within one hundred eighty (180) days after delivery thereof to Tenant, Tenant shall contest any item therein by written notice to Landlord, specifying each item contested and the extent that reason therefor. Notwithstanding the Operating Expense Escalation is different from foregoing, the Estimated Escalation Increase upon which Taxes included in any such annual statement may be modified by any subsequent adjustment or retroactive application of Taxes affecting the calculation of Expenses, and Tenant's right to contest the same shall be limited to one hundred eighty (180) days after notice of such modification. If Tenant paid Rent during has overpaid the amount of Expenses owing pursuant to this Article, Landlord shall credit the overpayment against Tenant's next payments due under this Article, or refund the same to Tenant if this Lease Year just completedhas expired or terminated. If Tenant has underpaid the amount of Expenses owing pursuant to this Article, Tenant shall pay the amount of the underpayment to Landlord the difference in cash within thirty (30) days following after Tenant's receipt by Tenant of such statement from Landlord, or receive a credit from Landlord on future Rent owing hereunder (or cash if there is no future Rent owing hereunder) as the case may be's statement. Until Tenant receives such statement, Tenant’s Rent for the new Lease Year shall continue to be paid at the rate being paid for the particular Lease Year just completed, but Tenant shall commence payment to Landlord Ifthe rentable area of the monthly installment of Additional Rent on Building or the basis of said statement beginning on the first day of the month following the month in which Tenant receives such statement. In addition to the above, if, during any particular Lease Year, there is a change in the information on which Landlord based the estimate upon which Tenant is then making its estimated payment of Taxes and Operating Expenses so that such Estimated Escalation Increase furnished to Tenant is no longer accurate, Landlord shall be permitted to revise such Estimated Escalation Increase by notifying Tenant, and there shall be such adjustments made in the Additional Rent on the first day of the month following the serving of such statement on Tenant as shall be necessary by either increasing or decreasing, as the case may be, the amount of Additional Rent then being paid by Tenant for the balance of the Lease Year (but in no event shall any such decrease result in a reduction of the Rent below the Monthly Rent plus all other amounts of Additional Rent) Notwithstanding the foregoing, in no event shall Taxes for the Base Year be lowered by any abatement or reduction on Taxes by reason of a Proposition 8 reduction or otherwise. Landlord’s and Tenant’s responsibilities with respect to the Tax and Operating Expense adjustments described herein shall survive the expiration or early termination of this Lease. If the Building Project is not fully occupied during any particular Lease Year, including Calendar Expenses for such Lease Year 2011, Landlord shall adjust those Operating be adjusted to equal Landlord's reasonable estimate of the Expenses which are affected by Building occupancy for would have been incurred during such Lease Year if the particular Lease Year, or portion thereof, as the case may be, to reflect an occupancy of not less than ninety-five percent (95%) of all such total rentable area of the BuildingBuilding and Project were occupied. Landlord's delay in submitting any statement contemplated herein for any Lease Year shall not affect the provisions of this Article, nor constitute a waiver of Landlord's rights as set forth herein for said Lease Year or any subsequent Lease Years during the Term or any extensions thereof; provided, however, notwithstanding anything to the contrary contained in this Article 4, Tenant shall not be responsible for Tenant's Share of any Expenses attributable to any calendar year which are first billed to Tenant more than two (2) calendar years after the earlier of the expiration of the applicable calendar year or the date on which the Term expires (and with respect to Tenant's Share of expenses, a period not to exceed six (6) months after the date Landlord's receives any supplemental or revised tax xxxx). If the Term ends on a day other than the last day of a Lease Year, the amounts payable by Tenant under this Article 4 applicable to the Lease Year in which the end of the Term occurs shall be prorated on the basis which the number of days from the commencement of such Lease Year to and including the date on which the end of the Term occurs bears to three hundred sixty-five (365).

Payment of Taxes and Operating Expenses. It is agreed that during each Lease Year beginning with the first month Commencing as of the second Lease Year and each month thereafter during the original Lease Term, or any extension thereofRent Commencement Date, Tenant shall pay Tenant’s Share and Project Share of Operating Expenses and Taxes (collectively, “Expenses”) incurred by Landlord during each Lease Year. To implement the foregoing, promptly following the commencement of the Term and prior to the commencement of each subsequent Lease Year (or as soon thereafter as practicable), Landlord as Additional Rentshall estimate the Expenses payable by Tenant for such Lease Year pursuant to this Section. Tenant shall pay to Landlord, at on the same time as the Monthly Rent is paidfirst day of each month, an amount equal to in advance, one-twelfth (1/12) of Landlord’s estimate (as determined estimated amount. If at any time during the course of the year Landlord determines that the Expenses payable by Tenant will vary from the then estimated amount, by notice to Tenant Landlord in its reasonable discretion) may revise the amount payable by Tenant during the balance of Tenant’s Pro Rata Share the Lease Year such that the total estimated additional amount due from Tenant for such Lease Year is paid by Tenant during the balance of any projected increase in the Taxes or Operating Expenses for the particular Lease Year in excess of equal monthly amounts. Within one hundred twenty (120) days (or as soon thereafter as practicable) after the Tax Base or Operating Expenses Base, as the case may be (the “Estimated Escalation Increase”). Landlord shall make a final adjustment (the “Escalation Reconciliation”) showing the extent that the Operating Expense escalation (the “Operating Expense Escalation”) is Ring Central, Inc. Lease 7 different from the Estimated Escalation Increase upon which Tenant paid Rent during the Lease Year just completed, which shall be submitted to Tenant as described in the next paragraph. In computing the Estimated Escalation Increase for any particular Lease Year, Landlord shall take into account any prior increases in Tenant’s Pro Rata Share of Taxes and Operating Expenses. If during any Lease Year the Estimated Escalation Increase is less than the Estimated Escalation Increase for the previous Lease Year on which Tenant’s share of Taxes and Operating Expenses were based for said year, such Additional Rent payments, attributable to Estimated Escalation Increase, to be paid by Tenant for the new Lease Year shall be decreased accordingly; provided, however, in no event will the Rent paid by Tenant hereunder ever be less than the Monthly Rent plus all other amounts of Additional Rent. As soon as practicable following the end close of each Lease Year, Landlord shall submit to provide Tenant with a statement setting forth to account for any difference between the Estimated Escalation Increase, if any. Beginning with said statement actual and the estimated Expenses for the third previous Lease Year. If such statement is not given for any Lease Year, it Tenant shall also set forth continue to pay on the Escalation Reconciliation for basis of the prior Lease Year just completedYear’s estimate until the month after such notice is given. To Landlord’s annual statement shall be final and binding upon Tenant unless, within one hundred eighty (180) days after delivery thereof to Tenant, Tenant shall contest any item therein by written notice to Landlord, specifying each item contested and the extent that reason therefor. Notwithstanding the Operating Expense Escalation is different from foregoing, the Estimated Escalation Increase upon which Taxes included in any such annual statement may be modified by any subsequent adjustment or retroactive application of Taxes affecting the calculation of Expenses, and Tenant’s right to contest the same shall be limited to one hundred eighty (180) days after notice of such modification. If Tenant paid Rent during has overpaid the amount of Expenses owing pursuant to this Article, Landlord shall credit the overpayment against Tenant’s next payments due under this Article, or refund the same to Tenant if this Lease Year just completedhas expired or terminated. If Tenant has underpaid the amount of Expenses owing pursuant to this Article, Tenant shall pay the amount of the underpayment to Landlord the difference in cash within thirty (30) days following receipt by Tenant of such statement from Landlord, or receive a credit from Landlord on future Rent owing hereunder (or cash if there is no future Rent owing hereunder) as the case may be. Until Tenant receives such statement, after Tenant’s Rent for the new Lease Year shall continue to be paid at the rate being paid for the particular Lease Year just completed, but Tenant shall commence payment to Landlord receipt of the monthly installment of Additional Rent on the basis of said statement beginning on the first day of the month following the month in which Tenant receives such statement. In addition to the above, if, during any particular Lease Year, there is a change in the information on which Landlord based the estimate upon which Tenant is then making its estimated payment of Taxes and Operating Expenses so that such Estimated Escalation Increase furnished to Tenant is no longer accurate, Landlord shall be permitted to revise such Estimated Escalation Increase by notifying Tenant, and there shall be such adjustments made in the Additional Rent on the first day of the month following the serving of such statement on Tenant as shall be necessary by either increasing or decreasing, as the case may be, the amount of Additional Rent then being paid by Tenant for the balance of the Lease Year (but in no event shall any such decrease result in a reduction of the Rent below the Monthly Rent plus all other amounts of Additional Rent) Notwithstanding the foregoing, in no event shall Taxes for the Base Year be lowered by any abatement or reduction on Taxes by reason of a Proposition 8 reduction or otherwise. Landlord’s and Tenant’s responsibilities with respect to the Tax and Operating Expense adjustments described herein shall survive the expiration or early termination of this Leasestatement. If the rentable area of the Building or the Project is not fully occupied during any particular Lease Year, including Calendar Expenses for such Lease Year 2011, Landlord shall adjust those Operating be adjusted to equal Landlord’s reasonable estimate of the Expenses which are affected by Building occupancy for would have been incurred during such Lease Year if the particular Lease Year, or portion thereof, as the case may be, to reflect an occupancy of not less than ninety-five percent (95%) of all such total rentable area of the BuildingBuilding and Project were occupied. Landlord’s delay in submitting any statement contemplated herein for any Lease Year shall not affect the provisions of this Article, nor constitute a waiver of Landlord’s rights as set forth herein for said Lease Year or any subsequent Lease Years during the Term or any extensions thereof; provided, however, notwithstanding anything to the contrary contained in this Article 4, Tenant shall not be responsible for Tenant’s Share of any Expenses attributable to any calendar year which are first billed to Tenant more than two (2) calendar years after the earlier of the expiration of the applicable calendar year or the date on which the Term expires (and with respect to Tenant’s Share of expenses, a period not to exceed six (6) months after the date Landlord’s receives any supplemental or revised tax xxxx). If the Term ends on a day other than the last day of a Lease Year, the amounts payable by Tenant under this Article 4 applicable to the Lease Year in which the end of the Term occurs shall be prorated on the basis which the number of days from the commencement of such Lease Year to and including the date on which the end of the Term occurs bears to three hundred sixty-five (365).

Payment of Taxes and Operating Expenses. It is agreed that during each Lease Year beginning with the first month Commencing as of the second Lease Year and each month thereafter during the original Lease Term, or any extension thereofCommencement Date, Tenant shall pay Tenant’s Share of Operating Expenses and Taxes (collectively, “Expenses”) incurred by Landlord during each Lease Year. To implement the foregoing, promptly following the commencement of the Term and prior to the commencement of each subsequent Lease Year (or as soon thereafter as practicable), Landlord as Additional Rentshall estimate the Expenses payable by Tenant for such Lease Year pursuant to this Section. Tenant shall pay to Landlord, at on the same time as the Monthly Rent is paidfirst day of each month, an amount equal to in advance, one-twelfth (1/12) of Landlord’s estimate (as determined estimated amount. If at any time during the course of the year Landlord determines that the Expenses payable by Tenant will vary from the then estimated amount, by notice to Tenant Landlord in its reasonable discretion) may revise the amount payable by Tenant during the balance of Tenant’s Pro Rata Share the Lease Year such that the total estimated additional amount due from Tenant for such Lease Year is paid by Tenant during the balance of any projected increase in the Taxes or Operating Expenses for the particular Lease Year in excess of equal monthly amounts. Within one hundred twenty (120) days after the Tax Base or Operating Expenses Base, as the case may be (the “Estimated Escalation Increase”). Landlord shall make a final adjustment (the “Escalation Reconciliation”) showing the extent that the Operating Expense escalation (the “Operating Expense Escalation”) is Ring Central, Inc. Lease 7 different from the Estimated Escalation Increase upon which Tenant paid Rent during the Lease Year just completed, which shall be submitted to Tenant as described in the next paragraph. In computing the Estimated Escalation Increase for any particular Lease Year, Landlord shall take into account any prior increases in Tenant’s Pro Rata Share of Taxes and Operating Expenses. If during any Lease Year the Estimated Escalation Increase is less than the Estimated Escalation Increase for the previous Lease Year on which Tenant’s share of Taxes and Operating Expenses were based for said year, such Additional Rent payments, attributable to Estimated Escalation Increase, to be paid by Tenant for the new Lease Year shall be decreased accordingly; provided, however, in no event will the Rent paid by Tenant hereunder ever be less than the Monthly Rent plus all other amounts of Additional Rent. As soon as practicable following the end close of each Lease Year, or as soon thereafter as practicable, Landlord shall submit to provide Tenant with a statement setting forth to account for any difference between the Estimated Escalation Increase, if any. Beginning with said statement actual and the estimated Expenses for the third previous Lease Year. If such statement is not given for any Lease Year, it Tenant shall also set forth continue to pay on the Escalation Reconciliation for basis of the prior Lease Year just completedYear’s estimate until the month after such notice is given. To Landlord’s annual statement shall be final and binding upon Tenant unless, within ninety (90) days after delivery thereof to Tenant, Tenant shall contest any item therein by written notice to Landlord, specifying each item contested and the extent that reason therefor. Notwithstanding the Operating Expense Escalation is different from foregoing, the Estimated Escalation Increase upon which Taxes included in any such annual statement may be modified by any subsequent adjustment or retroactive application of Taxes affecting the calculation of Expenses. If Tenant paid Rent during has overpaid the Lease Year just completedamount of Expenses owing pursuant to this Article, Landlord shall credit the overpayment against Tenant’s next payments due under this Article. If Tenant has underpaid the amount of Expenses owing pursuant to this Article, Tenant shall pay the amount of the underpayment to Landlord the difference in cash within thirty (30) days following receipt by Tenant of such statement from Landlord, or receive a credit from Landlord on future Rent owing hereunder (or cash if there is no future Rent owing hereunder) as the case may be. Until Tenant receives such statement, after Tenant’s Rent for the new Lease Year shall continue to be paid at the rate being paid for the particular Lease Year just completed, but Tenant shall commence payment to Landlord receipt of the monthly installment of Additional Rent on the basis of said statement beginning on the first day of the month following the month in which Tenant receives such statement. In addition to the above, if, during any particular Lease Year, there is a change in the information on which Landlord based the estimate upon which Tenant is then making its estimated payment of Taxes and Operating Expenses so that such Estimated Escalation Increase furnished to Tenant is no longer accurate, Landlord shall be permitted to revise such Estimated Escalation Increase by notifying Tenant, and there shall be such adjustments made in the Additional Rent on the first day of the month following the serving of such statement on Tenant as shall be necessary by either increasing or decreasing, as the case may be, the amount of Additional Rent then being paid by Tenant for the balance of the Lease Year (but in no event shall any such decrease result in a reduction of the Rent below the Monthly Rent plus all other amounts of Additional Rent) Notwithstanding the foregoing, in no event shall Taxes for the Base Year be lowered by any abatement or reduction on Taxes by reason of a Proposition 8 reduction or otherwise. Landlord’s and Tenant’s responsibilities with respect to the Tax and Operating Expense adjustments described herein shall survive the expiration or early termination of this Leasestatement. If the rentable area of the Building or the Project is not fully occupied during any particular Lease Year, including Calendar Expenses for such Lease Year 2011, Landlord shall adjust those Operating be adjusted to equal Landlord’s reasonable estimate of the Expenses which are affected by Building occupancy for would have been incurred during such Lease Year if the particular Lease Year, or portion thereof, as the case may be, to reflect an occupancy of not less than ninety-five percent (95%) of all such total rentable area of the BuildingBuilding and Project were occupied. Landlord’s delay in submitting any statement contemplated herein for any Lease Year shall not affect the provisions of this Article, nor constitute a waiver of Landlord’s rights as set forth herein for said Lease Year or any subsequent Lease Years during the Term or any extensions thereof. If the Term ends on a day other than the last day of a Lease Year, the amounts payable by Tenant under this Article 4 applicable to the Lease Year in which the end of the Term occurs shall be prorated on the basis which the number of days from the commencement of such Lease Year to and including the date on which the end of the Term occurs bears to three hundred sixty-five (365).

Payment of Taxes and Operating Expenses. It is agreed that during During each Lease Year Year, beginning with the first month of the second Lease Year Year, and each month thereafter during the original Lease Term, Term or any extension thereof, Tenant shall pay to Landlord Landlord, as Additional Rent due concurrently with Monthly Rent, at the same time as the Monthly Rent is paid, an amount equal to one-twelfth (1/12) 1/12 of Landlord’s estimate (as determined by Landlord in its reasonable sole discretion) of Tenant’s Pro Rata Share of any projected increase in the Taxes or Operating Expenses for the particular Lease Year in excess of the Tax Base or Operating Expenses Base, as the case may be (the “Estimated Escalation Increase”). Landlord shall make a A final adjustment (the “Escalation Reconciliation”) showing the extent that the Operating Expense escalation (the “Operating Expense Escalation”) is Ring Central, Inc. Lease 7 different from the Estimated Escalation Increase upon which Tenant paid Rent during the Lease Year just completed, which shall be submitted to made by Landlord and Tenant as described soon as practical following the end of each Lease Year, but in no event later than 90 days after the next paragraphend of each Lease Year. In computing the Estimated Escalation Increase for any particular Lease Year, Landlord shall take into account any prior increases in Tenant’s Pro Rata Share of Taxes and Operating Expenses. If during any Lease Year the Estimated Escalation Increase is less than the Estimated Escalation Increase for the previous immediately preceding Lease Year on which Tenant’s share of Taxes and Operating Expenses were based for said yearYear, such the Additional Rent payments, attributable to Estimated Escalation Increase, payments to be paid by Tenant for the new Lease Year attributable to said Estimated Escalation Increase shall be decreased accordingly; provided, however, in no event will the Rent paid by Tenant hereunder ever be less than the Monthly Rent plus all other amounts of Additional Rent. As soon as practicable practical following the end of each Lease Year, Landlord shall submit to Tenant a statement setting forth the Estimated Escalation Increase, if any. Beginning with said a statement for the third second Lease Year, it each such statement shall also set forth the Escalation Reconciliation for the Lease Year just completed. To the extent that the Operating Expense Escalation is different from the Estimated Escalation Increase upon which Tenant paid Rent during the Lease Year just completed, Tenant shall pay Landlord the difference difference, in cash within thirty (30) 30 days following receipt by Tenant of such statement from Landlord, or receive a credit from Landlord on future Rent owing hereunder under this Lease (or cash cash, if there is no future Rent owing hereunder) ), as the case may be. Until Tenant receives such statement, Tenant’s Rent for the new Lease Year shall continue to be paid at the rate being paid for the particular Lease Year just completed, but Tenant shall commence payment to Landlord of the monthly installment of Additional Rent on the basis of said statement beginning on the first day of the month following the month in which Tenant receives such statement. In addition to the aboveaddition, if, during any particular Lease Year, there is a change in the information on which Landlord based the estimate upon which Tenant the then current Estimated Escalation Increase is then making its estimated payment of Taxes and Operating Expenses based so that such Estimated Escalation Increase furnished to Tenant is no longer accurate, Landlord shall be permitted to revise such Estimated Escalation Increase by notifying Tenant, and there shall be such adjustments made in the Additional Rent on the first day of the month following the serving of such statement on Tenant as shall be necessary by either increasing or decreasing, as the case may be, the amount of Additional Rent then being paid by Tenant for the balance of the Lease Year (but in no event shall any such decrease result in a reduction of the Rent rent below the Monthly Rent plus all other amounts of Additional Rent) Notwithstanding ). Even though the foregoingTerm has expired and Tenant has vacated the Premises, in no event shall Taxes when the final determination is made of the Escalation Reconciliation for the Base Year be lowered by calendar year in which this Lease terminates, Tenant shall immediately pay to Landlord within 10 days after Landlord’s delivery of the Escalation Reconciliation to Tenant, any abatement or reduction on Taxes by reason of a Proposition 8 reduction or otherwiseadditional amounts due as calculated pursuant to this Article 4. Landlord’s and Tenant’s responsibilities with respect to the Tax and Operating Expense adjustments described herein shall survive the expiration or early termination of this Lease. If the Building is not fully less than 95% occupied at any time during any particular Lease Year, Year (including Calendar Year 2011the year of the Operating Expense Base), Landlord shall reasonably adjust those Operating Expenses which are affected by Building occupancy for the particular Lease Year, or portion thereof, as the case may be, to reflect an occupancy of not less than ninety-five percent (equal to 95%) % of all such rentable area of the Building.

Payment of Taxes and Operating Expenses. It is agreed that during each Lease Year beginning with Within a reasonable time (not to exceed ninety (90) days after the first month of the second Lease Year Commencement Date, and each month thereafter during the original Lease Term, or any extension thereof, Tenant shall pay within a reasonable time (not to Landlord as Additional Rent, at the same time as the Monthly Rent is paid, an amount equal to one-twelfth exceed ninety (1/1290) of Landlord’s estimate (as determined by Landlord in its reasonable discretiondays) of Tenant’s Pro Rata Share of any projected increase in the Taxes or Operating Expenses for the particular Lease Year in excess of the Tax Base or Operating Expenses Base, as the case may be (the “Estimated Escalation Increase”). Landlord shall make a final adjustment (the “Escalation Reconciliation”) showing the extent that the Operating Expense escalation (the “Operating Expense Escalation”) is Ring Central, Inc. Lease 7 different from the Estimated Escalation Increase upon which Tenant paid Rent during the Lease Year just completed, which shall be submitted to Tenant as described in the next paragraph. In computing the Estimated Escalation Increase for any particular Lease Year, Landlord shall take into account any prior increases in Tenant’s Pro Rata Share of Taxes and Operating Expenses. If during any Lease Year the Estimated Escalation Increase is less than the Estimated Escalation Increase for the previous Lease Year on which Tenant’s share of Taxes and Operating Expenses were based for said year, such Additional Rent payments, attributable to Estimated Escalation Increase, to be paid by Tenant for the new Lease Year shall be decreased accordingly; provided, however, in no event will the Rent paid by Tenant hereunder ever be less than the Monthly Rent plus all other amounts of Additional Rent. As soon as practicable following after the end of each Lease Yearfiscal year (or portion thereof) included in the Term, Landlord Lessor shall submit deliver to Tenant Lessee (i) a statement setting forth the Estimated Escalation Increase, if any. Beginning with said statement of actual Operating Expenses and Taxes for the third Lease Yearfiscal year just ended, it shall also set forth the Escalation Reconciliation together with reasonable supporting documentation therefor, and (ii) a budget of Operating Expenses and Taxes for the Lease Year just completed. To then-current fiscal year based on the extent that the actual Operating Expense Escalation is different from the Estimated Escalation Increase upon which Tenant paid Rent during the Lease Year just completed, Tenant shall pay Landlord the difference in cash within thirty (30) days following receipt by Tenant of such statement from Landlord, or receive a credit from Landlord on future Rent owing hereunder (or cash if there is no future Rent owing hereunder) as the case may be. Until Tenant receives such statement, Tenant’s Rent Expenses and Taxes for the new Lease Year shall continue to be paid at the rate being paid for the particular Lease Year just completed, but Tenant shall commence payment to Landlord of the monthly installment of Additional Rent on the basis of said statement beginning preceding year and reasonably projected increases or decreases reasonably anticipated by Lessor. Commencing on the first day of the first calendar month following after the month delivery to Lessee of such budget, Lessee shall pay to Lessor, as Additional Rent, on account of its share of anticipated Operating Expenses and Taxes for the then-current year, 1/12th of the total annualized amount of Lessee's Share of Operating Expenses and Taxes. Lessor reserves the right to revise the budget during any fiscal year to cause it to more accurately reflect the actual Taxes or Operating Expenses being paid or incurred by Lessor, and upon any such revision the parties shall make adjustments in which Tenant receives the same time and manner as hereinafter provided for fiscal year-end adjustments. Upon delivery to Lessee of the statement of actual Operating Expenses and Taxes for the preceding fiscal year, Lessor shall adjust Lessee's account accordingly. If the total amount paid by Lessee on account of the preceding fiscal year is less than the amount due hereunder, Lessee shall pay the balance due within twenty (20) days after delivery by Lessor of such statement. In addition to If the abovetotal amount paid by Lessee on account of the preceding fiscal year exceeds the amount due hereunder, if, during any particular Lease Year, there is a change in the information on which Landlord based the estimate upon which Tenant is then making its estimated payment of Taxes and Operating Expenses so that such Estimated Escalation Increase furnished to Tenant is no longer accurate, Landlord excess shall be permitted to revise such Estimated Escalation Increase credited by notifying Tenant, and there shall be such adjustments made in Lessor against the Additional Rent on the first day of the month following the serving of such statement on Tenant as shall be necessary by either increasing or decreasing, as the case may be, the amount monthly installments of Additional Rent then being paid by Tenant for next falling due or refunded to Lessee upon the balance expiration or termination of this Lease (unless such expiration or termination is the Lease Year result of an "Event of Default" (but as defined in no event shall any such decrease result in a reduction of the Rent below the Monthly Rent plus all other amounts of Additional Rent) Notwithstanding the foregoingSection 14.1 below), in no event which case Lessor shall credit such amount against any amount due from Lessee by reason of such termination). Lessor's current fiscal year is July 1 - June 30, but Lessor reserves the right to change the fiscal year at any time during the Term. Lessee shall have the right, upon written notice given to Lessor, at Lessee's sole cost and expense to review Lessor's books and records relating to the Operating Expenses and Taxes for the Base Year be lowered by any abatement or reduction on Taxes by reason of a Proposition 8 reduction or otherwise. Landlord’s Building and Tenant’s responsibilities with respect to the Tax and Operating Expense adjustments described herein shall survive the expiration or early termination of this Lease. If the Building is not fully occupied during any particular Lease Year, including Calendar Year 2011, Landlord shall adjust those Operating Expenses which are affected by Building occupancy Land for the particular Lease Year, or portion thereof, as prior fiscal year during normal business hours at the case may be, to reflect an occupancy of not less than ninety-five percent (95%) of all such rentable area of the Buildingoffice where these records are maintained.

Payment of Taxes and Operating Expenses. It is agreed that during During each Lease Year Year, beginning with the first month of the second Lease Year Year, and each month thereafter during the original Lease Term, Term or any extension thereof, Tenant shall pay to Landlord Landlord, as Additional Rent due concurrently with Monthly Rent, at the same time as the Monthly Rent is paid, an amount equal to one-twelfth (1/12) of Landlord’s estimate (as determined by Landlord in its reasonable sole discretion) of Tenant’s Pro Rata Share of any projected increase in the Taxes or Operating Expenses for the particular Lease Year in excess of the Tax Base or Operating Expenses Base, as the case may be (the “Estimated Escalation Increase”). Landlord shall make a A final adjustment (the “Escalation Reconciliation”) showing the extent that the Operating Expense escalation (the “Operating Expense Escalation”) is Ring Central, Inc. Lease 7 different from the Estimated Escalation Increase upon which Tenant paid Rent during the Lease Year just completed, which shall be submitted to made by Landlord and Tenant as described soon as practicable following the end of each Lease Year, but in no event later than ninety (90) days after the next paragraphend of each Lease Year. In computing the Estimated Escalation Increase for any particular Lease Year, Landlord shall take into account any prior increases in Tenant’s Pro Rata Share of Taxes and Operating Expenses. If during any Lease Year the Estimated Escalation Increase is less than the Estimated Escalation Increase for the previous immediately preceding Lease Year on which Tenant’s share of Taxes and Operating Expenses were based for said yearYear, such the Additional Rent payments, attributable to Estimated Escalation Increase, payments to be paid by Tenant for the new Lease Year attributable to said Estimated Escalation Increase shall be decreased accordingly; provided. If Landlord receives a refund of Taxes due to a tax protest or other such contest for Taxes paid during any Lease Year in which Tenant paid Additional Rent because of any increase in Taxes over the Tax Base, howeverLandlord shall refund to Tenant’s Pro Rata Share of any such refund, in no event will not to exceed the Tenant’s Pro Rata Share of Additional Rent paid by Tenant hereunder ever because of an increase in Taxes over the Tax Base during such Lease Year. Tenant’s share of the refund shall be less than distributed to Tenant within 60 days of Landlord receiving the Monthly Rent plus all other amounts of Additional Rentrefund. As soon as practicable following the end of each Lease Year, Landlord shall submit to Tenant a statement setting forth the Estimated Escalation Increase, if any. Beginning with said a statement for the third second Lease Year, it each such statement shall also set forth the Escalation Reconciliation for the Lease Year just completed. To the extent that the Operating Expense Escalation is different from the Estimated Escalation Increase upon which Tenant paid Rent during the Lease Year just completed, Tenant shall pay Landlord the difference difference, in cash within thirty (30) days following receipt by Tenant of such statement from Landlord, or receive a credit from Landlord on future Rent owing hereunder under this Lease (or cash cash, if there is no future Rent owing hereunder) ), as the case may bemaybe. Until Tenant receives such statement, Tenant’s Rent for the new Lease Year shall continue to be paid at the rate being paid for the particular Lease Year just completed, but Tenant shall commence payment to Landlord of the monthly installment of Additional Rent on the basis of said statement beginning on the first day of the month following the month in which Tenant receives such statement. In addition to the aboveaddition, if, during any particular Lease Year, there is a change in the information on which Landlord based the estimate upon which Tenant the then current Estimated Escalation Increase is then making its estimated payment of Taxes and Operating Expenses based so that such Estimated Escalation Increase furnished to Tenant is no longer accurate, Landlord shall be permitted to revise such Estimated Escalation Increase by notifying Tenant, and there shall be such adjustments made in the Additional Rent on the first day of the month following the serving of such statement on Tenant as shall be necessary by either increasing or decreasing, as the case may be, the amount of Additional Rent then being paid by Tenant for the balance of the Lease Year (but in no event shall any such decrease result in a reduction of the Rent rent below the Monthly Rent plus all other amounts of Additional Rent) Notwithstanding ). Even though the foregoingTerm has expired and Tenant has vacated the Premises, in no event shall Taxes when the final determination is made of the Escalation Reconciliation for the Base Year be lowered by calendar year in which this Lease terminates, Tenant shall immediately pay to Landlord within ten (10) days after Landlord’s delivery of the Escalation Reconciliation to Tenant, any abatement or reduction on Taxes by reason of a Proposition 8 reduction or otherwise. additional amounts due as calculated pursuant to this Article 4 Landlord’s and Tenant’s responsibilities with respect to the Tax and Operating Expense adjustments described herein shall survive the expiration or early termination of this Lease. If the Building is not fully less than ninety-five percent (95%) occupied during any particular Lease Year, including Calendar Year 2011, Landlord shall may adjust those Operating Expenses which are affected by Building occupancy for the particular Lease Year, or portion thereof, as the case may be, to reflect an occupancy of not less than ninety-five percent (95%) of all such rentable area of the Building.

Payment of Taxes and Operating Expenses. It is agreed that during each Lease Year beginning with the first month of the second Lease Year 2006 and each month thereafter during the original Lease Term, or any extension thereof, Tenant shall pay to Landlord as Additional Rent, at the same time as the Monthly Rent is paid, an amount equal to one-twelfth (1/12) of Landlord’s estimate (as determined by Landlord in its reasonable sole discretion) of Tenant’s Pro Rata Share of any projected increase in the Taxes or Operating Expenses for the particular Lease Year in excess of the Tax Base or Operating Expenses Base, as the case may be (the “Estimated Escalation Increase”). Landlord shall make a A final adjustment (the “Escalation Reconciliation”) showing shall be made between the extent that parties as soon as practicable following the Operating Expense escalation (the “Operating Expense Escalation”) is Ring Central, Inc. Lease 7 different from the Estimated Escalation Increase upon which Tenant paid Rent during the end of each Lease Year just completed, which shall be submitted to Tenant as described in comparing the next paragraph. In computing the Estimated Escalation Increase for any particular Lease Year, Landlord shall take into account any prior increases actual increase in Tenant’s Pro Rata Share of Taxes and or Operating Expenses. If during any Lease Year Expenses in excess of the Tax Base or the Operating Expenses Base, as the case may be, to the Estimated Escalation Increase is less than the Estimated Escalation Increase for the previous Lease Year on which Tenant’s share of Taxes and Operating Expenses were based for said year, such Additional Rent payments, attributable to Estimated Escalation Increase, to be paid by Tenant for the new Lease Year shall be decreased accordingly; provided, however, in no event will the Rent paid by Tenant hereunder ever be less than the Monthly Rent plus all other amounts of Additional Rent. As soon as practicable following the end of each Lease Year, Landlord shall submit to Tenant a statement setting forth the Estimated Escalation Increase, if anyIncrease for the following Lease Year. Beginning with said statement for the third second Lease Year, it shall also set forth the Escalation Reconciliation for the Lease Year just completed. To the extent that the Operating Expense Escalation Reconciliation is different from the Estimated Escalation Increase upon which Tenant paid Rent during the Lease Year just completed, Tenant shall pay Landlord the difference in cash within thirty (30) days following receipt by Tenant of such statement from Landlord, or receive a credit from Landlord on future Rent owing hereunder (or cash if there is no future Rent owing hereunder) as the case may be. Until Tenant receives such statement, Tenant’s Additional Rent for the new Lease Year shall continue to be paid at the rate being paid for the particular Lease Year just completed, but Tenant shall commence payment to Landlord of the monthly installment of Additional Rent on the basis of said statement beginning on the first day of the month following the month in which Tenant receives such statement. In addition to the above, if, during any particular Lease Year, there is a change in the information on which Landlord based the estimate upon which Tenant is then making its estimated payment of Taxes and Operating Expenses Estimated Escalation Increase so that such Estimated Escalation Increase furnished to Tenant is no longer accurate, Landlord shall be permitted to revise such Estimated Escalation Increase by notifying Tenant, and there shall be such adjustments made in the Additional Rent on the first day of the month following the serving of such statement on Tenant as shall be necessary by either increasing or decreasing, as the case may be, the amount of Additional Rent then being paid by Tenant for the balance of the Lease Year (but in no event shall any such decrease result in a reduction of the Rent below the Monthly Rent plus all other amounts of Additional Rent) Notwithstanding the foregoing, in no event shall Taxes for the Base Year be lowered by any abatement or reduction on Taxes by reason of a Proposition 8 reduction or otherwise). Landlord’s and Tenant’s responsibilities with respect to the Tax and Operating Expense adjustments Additional Rent described herein shall survive the expiration or early termination of this Leasethe Term. If the Building is not fully occupied during any particular Lease Year, including Calendar Year 2011, Landlord shall may adjust those Operating Expenses which are affected by Building occupancy for the particular Lease Year, or portion thereof, as the case may be, to reflect an occupancy of not less than ninety-five percent (95%) of all such the rentable area of the Building.

Payment of Taxes and Operating Expenses. It is agreed that during each Lease Year beginning with Within a reasonable time after the first month of the second Lease Year Commencement Date, and each month thereafter during the original Lease Term, or any extension thereof, Tenant shall pay to Landlord as Additional Rent, at the same within a reasonable time as the Monthly Rent is paid, an amount equal to one-twelfth (1/12) of Landlord’s estimate (as determined by Landlord in its reasonable discretion) of Tenant’s Pro Rata Share of any projected increase in the Taxes or Operating Expenses for the particular Lease Year in excess of the Tax Base or Operating Expenses Base, as the case may be (the “Estimated Escalation Increase”). Landlord shall make a final adjustment (the “Escalation Reconciliation”) showing the extent that the Operating Expense escalation (the “Operating Expense Escalation”) is Ring Central, Inc. Lease 7 different from the Estimated Escalation Increase upon which Tenant paid Rent during the Lease Year just completed, which shall be submitted to Tenant as described in the next paragraph. In computing the Estimated Escalation Increase for any particular Lease Year, Landlord shall take into account any prior increases in Tenant’s Pro Rata Share of Taxes and Operating Expenses. If during any Lease Year the Estimated Escalation Increase is less than the Estimated Escalation Increase for the previous Lease Year on which Tenant’s share of Taxes and Operating Expenses were based for said year, such Additional Rent payments, attributable to Estimated Escalation Increase, to be paid by Tenant for the new Lease Year shall be decreased accordingly; provided, however, in no event will the Rent paid by Tenant hereunder ever be less than the Monthly Rent plus all other amounts of Additional Rent. As soon as practicable following after the end of each Lease Yearfiscal year of the Lessor (or portion thereof) included in the Term, Landlord Lessor shall submit deliver to Tenant Lessee (i) a statement setting forth the Estimated Escalation Increase, if any. Beginning with said statement of actual Operating Expenses and Taxes for the third Lease Yearfiscal year just ended, it shall also set forth the Escalation Reconciliation together with reasonable supporting documentation therefor, and (ii) a budget of Operating Expenses and Taxes for the Lease Year just completed. To then-current fiscal year based on the extent that the actual Operating Expense Escalation is different from the Estimated Escalation Increase upon which Tenant paid Rent during the Lease Year just completed, Tenant shall pay Landlord the difference in cash within thirty (30) days following receipt by Tenant of such statement from Landlord, or receive a credit from Landlord on future Rent owing hereunder (or cash if there is no future Rent owing hereunder) as the case may be. Until Tenant receives such statement, Tenant’s Rent Expenses and Taxes for the new Lease Year shall continue to be paid at the rate being paid for the particular Lease Year just completed, but Tenant shall commence payment to Landlord of the monthly installment of Additional Rent on the basis of said statement beginning preceding year and projected increases or decreases reasonably anticipated by Lessor. Commencing on the first day of the first calendar month following after the month delivery to Lessee of such budget, Lessee shall pay to Lessor, as Additional Rent, on account of its share of anticipated Operating Expenses for the then-current year, 1/12th of the total annualized amount of Lessee's share of Operating Expenses and shall pay to Lessor, as and when set forth in which Tenant receives Section 3.1, the appropriate percentage of Taxes. Lessor reserves the right to revise the budget during any fiscal year to cause it to more accurately reflect the actual Taxes or Operating Expenses being paid or incurred by Lessor, and upon any such revision the parties shall make adjustments in the same time and manner as hereinafter provided for fiscal year-end adjustments. Upon delivery to Lessee of the statement of actual Operating Expenses and Taxes for the preceding fiscal year, Lessor shall adjust Lessee's account accordingly. If the total amount paid by Lessee on account of the preceding fiscal year is less than the amount due hereunder, Lessee shall pay the balance due within twenty (20) days after delivery by Lessor of such statement. In addition to If the abovetotal amount paid by Lessee on account of the preceding fiscal year exceeds the amount due hereunder, if, during any particular Lease Year, there is a change in the information on which Landlord based the estimate upon which Tenant is then making its estimated payment of Taxes and Operating Expenses so that such Estimated Escalation Increase furnished to Tenant is no longer accurate, Landlord excess shall be permitted to revise such Estimated Escalation Increase credited by notifying Tenant, and there shall be such adjustments made in Lessor against the Additional Rent on the first day of the month following the serving of such statement on Tenant as shall be necessary by either increasing or decreasing, as the case may be, the amount monthly installments of Additional Rent then being paid by Tenant for the balance of the Lease Year (but in no event shall any such decrease result in a reduction of the Rent below the Monthly Rent plus all other amounts of Additional Rent) Notwithstanding the foregoing, in no event shall Taxes for the Base Year be lowered by any abatement next falling due or reduction on Taxes by reason of a Proposition 8 reduction or otherwise. Landlord’s and Tenant’s responsibilities with respect refunded to the Tax and Operating Expense adjustments described herein shall survive Lessee upon the expiration or early termination of this LeaseLease (unless such expiration or termination is the result of an "Event of Default" (as defined in Section 13.1 below)). If Lessor's current fiscal year is July 1 - June 30, but Lessor reserves the Building is not fully occupied right to change the fiscal year at any time during any particular Lease Year, including Calendar Year 2011, Landlord shall adjust those Operating Expenses which are affected by Building occupancy for the particular Lease Year, or portion thereof, as the case may be, to reflect an occupancy of not less than ninety-five percent (95%) of all such rentable area of the BuildingTerm.

Payment of Taxes and Operating Expenses. It is agreed that during Commencing September 1, 2012, and for each Lease Year beginning Year, or portion thereof, thereafter during the Term (each such Lease Year, or portion thereof, hereinafter being referred to as a “Comparison Year”), Tenant shall pay Landlord an amount equal to Tenant’s Pro Rata Share of increases in Operating Expenses and Taxes over the Expense Stop (collectively, the “Escalation Increase”). Commencing with the first (1st) month of the second Lease first (1st) Comparison Year and on the first (1st) day of each month thereafter during the original Lease Term, Term or any extension thereof, Tenant shall pay Escalation Increases to Landlord Landlord, as Additional Rent due concurrently with Monthly Base Rent, at the same time as the Monthly Rent is paid, an amount in installments equal to one-twelfth (1/12) of Landlord’s estimate (as determined by Landlord in its reasonable discretion) of Tenant’s Pro Rata Share of any projected increase in the Taxes or Operating Expenses Escalation Increase for the particular Lease Comparison Year in excess of the Tax Base or Operating Expenses Base, as the case may be (the “Estimated Escalation Increase”). Landlord shall make a A final adjustment (the “Escalation Reconciliation”) showing the extent that the Operating Expense escalation (the “Operating Expense Escalation”) is Ring Central, Inc. Lease 7 different from the Estimated Escalation Increase upon which Tenant paid Rent during the Lease Year just completed, which shall be submitted to made by Landlord and Tenant as described in soon as practicable following the next paragraphend of each Comparison Year. In computing the Estimated Escalation Increase for any particular Lease Comparison Year, Landlord shall take into account any prior increases in Tenant’s Pro Rata Share of Taxes and Operating Expenses. If during any Lease Year the Estimated Escalation Increase is less than the Estimated Escalation Increase for the previous Lease Year on which Tenant’s share of Taxes and Operating Expenses were based for said yearimmediately preceding Comparison Year, such Additional Rent payments, attributable to Estimated Escalation Increase, the payments to be paid by Tenant for the new Lease Comparison Year attributable to said Estimated Escalation Increase shall be decreased accordingly; provided, however, in no event will the Rent paid by Tenant hereunder ever be less than the Monthly Rent plus all other amounts of Additional Base Rent. As soon as practicable following the end of each Lease Year, Landlord shall submit to Tenant a statement setting forth the Estimated Escalation Increase, if any. Beginning with said statement for the third Lease Year, it shall also set forth the Escalation Reconciliation for the Lease Year just completed. To the extent that the Operating Expense Escalation is different from the Estimated Escalation Increase upon which Tenant paid Rent during the Lease Year just completed, Tenant shall pay Landlord the difference in cash within thirty (30) days following receipt by Tenant of such statement from Landlord, or receive a credit from Landlord on future Rent owing hereunder (or cash if there is no future Rent owing hereunder) as the case may be. Until Tenant receives such statement, Tenant’s Rent for the new Lease Year shall continue to be paid at the rate being paid for the particular Lease Year just completed, but Tenant shall commence payment to Landlord of the monthly installment of Additional Rent on the basis of said statement beginning on the first day of the month following the month in which Tenant receives such statement. In addition to the above, if, during any particular Lease Year, there is a change in the information on which Landlord based the estimate upon which Tenant is then making its estimated payment of Taxes and Operating Expenses so that such Estimated Escalation Increase furnished to Tenant is no longer accurate, Landlord shall be permitted to revise such Estimated Escalation Increase by notifying Tenant, and there shall be such adjustments made in the Additional Rent on the first day of the month following the serving of such statement on Tenant as shall be necessary by either increasing or decreasing, as the case may be, the amount of Additional Rent then being paid by Tenant for the balance of the Lease Year (but in no event shall any such decrease result in a reduction of the Rent below the Monthly Rent plus all other amounts of Additional Rent) Notwithstanding the foregoing, in no event shall Taxes for the Base Year be lowered by any abatement or reduction on Taxes by reason of a Proposition 8 reduction or otherwise. Landlord’s and Tenant’s responsibilities with respect to the Tax and Operating Expense adjustments described herein shall survive the expiration or early termination of this Lease. If the Building is not fully occupied during any particular Lease Year, including Calendar Year 2011, Landlord shall adjust those Operating Expenses which are affected by Building occupancy for the particular Lease Year, or portion thereof, as the case may be, to reflect an occupancy of not less than ninety-five percent (95%) of all such rentable area of the Building.

Payment of Taxes and Operating Expenses. It is agreed that during each Lease Year beginning with the first month Commencing as of the second Lease Year and each month thereafter during Commencement Date (notwithstanding that Tenant’s obligation to pay Monthly Rent does not commence until the original Lease Term, or any extension thereofRent Commencement Date), Tenant shall pay Tenant’s Share of Operating Expenses and Taxes (collectively, “Expenses”) incurred by Landlord during each Lease Year. To implement the foregoing, promptly following the commencement of the Term and prior to the commencement of each subsequent Lease Year (or as soon thereafter as practicable), Landlord as Additional Rentshall estimate the Expenses payable by Tenant for such Lease Year pursuant to this Section. Tenant shall pay to Landlord, at on the same time as the Monthly Rent is paidfirst day of each month, an amount equal to in advance, one-twelfth (1/12) of Landlord’s estimate (as determined estimated amount. If at any time during the course of the year Landlord determines that the Expenses payable by Tenant will vary from the then estimated amount, by notice to Tenant Landlord in its reasonable discretion) may revise the amount payable by Tenant during the balance of Tenant’s Pro Rata Share the Lease Year such that the total estimated additional amount due from Tenant for such Lease Year is paid by Tenant during the balance of any projected increase in the Taxes or Operating Expenses for the particular Lease Year in excess of equal monthly amounts. Within one hundred twenty (120) days (or as soon thereafter as practicable) after the Tax Base or Operating Expenses Base, as the case may be (the “Estimated Escalation Increase”). Landlord shall make a final adjustment (the “Escalation Reconciliation”) showing the extent that the Operating Expense escalation (the “Operating Expense Escalation”) is Ring Central, Inc. Lease 7 different from the Estimated Escalation Increase upon which Tenant paid Rent during the Lease Year just completed, which shall be submitted to Tenant as described in the next paragraph. In computing the Estimated Escalation Increase for any particular Lease Year, Landlord shall take into account any prior increases in Tenant’s Pro Rata Share of Taxes and Operating Expenses. If during any Lease Year the Estimated Escalation Increase is less than the Estimated Escalation Increase for the previous Lease Year on which Tenant’s share of Taxes and Operating Expenses were based for said year, such Additional Rent payments, attributable to Estimated Escalation Increase, to be paid by Tenant for the new Lease Year shall be decreased accordingly; provided, however, in no event will the Rent paid by Tenant hereunder ever be less than the Monthly Rent plus all other amounts of Additional Rent. As soon as practicable following the end close of each Lease Year, Landlord shall submit to provide Tenant with a statement setting forth to account for any difference between the Estimated Escalation Increase, if any. Beginning with said statement actual and the estimated Expenses for the third previous Lease Year. Landlord’s annual statement shall be final and binding upon Tenant unless, it within one hundred eighty (180) days after delivery thereof to Tenant, Tenant shall also set forth contest any item therein by written notice to Landlord, specifying each item contested and the Escalation Reconciliation for reason therefor. Notwithstanding the Lease Year just completedforegoing, the Taxes included in any such annual statement may be modified by any subsequent adjustment or retroactive application of Taxes affecting the calculation of Expenses. To If Tenant has overpaid the extent that amount of Expenses owing pursuant to this Article, Landlord shall credit the Operating Expense Escalation is different from overpayment against Tenant’s next payments due under this Article. If Tenant has underpaid the Estimated Escalation Increase upon which Tenant paid Rent during the Lease Year just completedamount of Expenses owing pursuant to this Article, Tenant shall pay the amount of the underpayment to Landlord the difference in cash within thirty (30) days following receipt by Tenant of such statement from Landlord, or receive a credit from Landlord on future Rent owing hereunder (or cash if there is no future Rent owing hereunder) as the case may be. Until Tenant receives such statement, after Tenant’s Rent for the new Lease Year shall continue to be paid at the rate being paid for the particular Lease Year just completed, but Tenant shall commence payment to Landlord receipt of the monthly installment of Additional Rent on the basis of said statement beginning on the first day of the month following the month in which Tenant receives such statement. In addition to the above, if, during any particular Lease Year, there is a change in the information on which Landlord based the estimate upon which Tenant is then making its estimated payment of Taxes and Operating Expenses so that such Estimated Escalation Increase furnished to Tenant is no longer accurate, Landlord shall be permitted to revise such Estimated Escalation Increase by notifying Tenant, and there shall be such adjustments made in the Additional Rent on the first day of the month following the serving of such statement on Tenant as shall be necessary by either increasing or decreasing, as the case may be, the amount of Additional Rent then being paid by Tenant for the balance of the Lease Year (but in no event shall any such decrease result in a reduction of the Rent below the Monthly Rent plus all other amounts of Additional Rent) Notwithstanding the foregoing, in no event shall Taxes for the Base Year be lowered by any abatement or reduction on Taxes by reason of a Proposition 8 reduction or otherwise. Landlord’s and Tenant’s responsibilities with respect to the Tax and Operating Expense adjustments described herein shall survive the expiration or early termination of this Leasestatement. If the rentable area of the Building or the Project is not fully occupied during any particular Lease Year, including Calendar Expenses for such Lease Year 2011, Landlord shall adjust those Operating be adjusted to equal Landlord’s reasonable estimate of the Expenses which are affected by Building occupancy for would have been incurred during such Lease Year if the particular Lease Year, or portion thereof, as the case may be, to reflect an occupancy of not less than ninety-five percent (95%) of all such total rentable area of the BuildingBuilding and Project were occupied. Landlord’s delay in submitting any statement contemplated herein for any Lease Year shall not affect the provisions of this Article, nor constitute a waiver of Landlord’s rights as set forth herein for said Lease Year or any subsequent Lease Years during the Lease Term or any extensions thereof.

Payment of Taxes and Operating Expenses. It Commencing with the calendar year following the Base Year and for each calendar year thereafter (hereinafter each referred to as a “Comparison Year”), Tenant shall pay Landlord an amount equal to Tenant’s Pro Rata Share of Operating Expenses and Taxes incurred by Landlord with respect to the Building for or during such Comparison Year in excess of the Operating Expenses for the Operating Expenses Base and Taxes for the Tax Base (collectively, the “Escalation Increase”). Landlord shall have the right to change the Comparison Year from a calendar year to a fiscal year from time to time (or vice versa), provided that equitable adjustment is agreed made so that during each Lease Year beginning Tenant shall not be charged more than once for the same period. Commencing with the first month of the second Lease first Comparison Year and on the first day of each month thereafter during the original Lease Term, Term or any extension thereof, Tenant shall pay Escalation Increases to Landlord Landlord, as Additional Rent due concurrently with Monthly Base Rent, at the same time as the Monthly Rent is paid, an amount in installments equal to one-twelfth (1/12) of Landlord’s estimate (as determined by Landlord in its reasonable sole discretion) of Tenant’s Pro Rata Share of any projected increase in the Taxes or Operating Expenses for the particular Lease Comparison Year in excess of the Taxes for the Tax Base or Operating Expenses for the Operating Expenses Base, as the case may be (the “Estimated Escalation Increase”). Landlord shall make a A final adjustment (the “Escalation Reconciliation”) showing the extent that the Operating Expense escalation (the “Operating Expense Escalation”) is Ring Central, Inc. Lease 7 different from the Estimated Escalation Increase upon which Tenant paid Rent during the Lease Year just completed, which shall be submitted to made by Landlord and Tenant as described in within ninety (90) days following the next paragraphend of each Comparison Year. In computing the Estimated Escalation Increase for any particular Lease Comparison Year, Landlord shall take into account any prior increases in Tenant’s Pro Rata Share of Taxes and Operating Expenses. If during any Lease Year the Estimated Escalation Increase is less than the Estimated Escalation Increase for the previous Lease Year on which Tenant’s share of Taxes and Operating Expenses were based for said yearimmediately preceding Comparison Year, such the Additional Rent payments, attributable to Estimated Escalation Increase, payments to be paid by Tenant for the new Lease Comparison Year attributable to said Estimated Escalation Increase shall be decreased accordingly; provided, however, in no event will the Rent paid by Tenant hereunder ever be less than the Monthly Rent plus all other amounts of Additional Base Rent. As soon as practicable following the end of each Lease Year, Landlord shall submit to Tenant a statement setting forth the Estimated Escalation Increase, if any. Beginning with said statement for the third Lease Year, it shall also set forth the Escalation Reconciliation for the Lease Year just completed. To the extent that the Operating Expense Escalation is different from the Estimated Escalation Increase upon which Tenant paid Rent during the Lease Year just completed, Tenant shall pay Landlord the difference in cash within thirty (30) days following receipt by Tenant of such statement from Landlord, or receive a credit from Landlord on future Rent owing hereunder (or cash if there is no future Rent owing hereunder) as the case may be. Until Tenant receives such statement, Tenant’s Rent for the new Lease Year shall continue to be paid at the rate being paid for the particular Lease Year just completed, but Tenant shall commence payment to Landlord of the monthly installment of Additional Rent on the basis of said statement beginning on the first day of the month following the month in which Tenant receives such statement. In addition to the above, if, during any particular Lease Year, there is a change in the information on which Landlord based the estimate upon which Tenant is then making its estimated payment Pro Rata Share of Taxes and Operating Expenses so that such Estimated Escalation Increase furnished to Tenant is no longer accurate, Landlord shall be permitted to revise such Estimated Escalation Increase by notifying Tenant, and there shall be such adjustments made in the Additional Rent on through the first day of the month full calendar year following the serving Commencement Date. Beginning with the second full calendar year and throughout the Term, Tenant shall pay Tenant’s Pro Rata Share of such statement on Tenant as shall be necessary by either increasing or decreasing, as Taxes and Operating Expenses. Beginning with the case may be, second full calendar year following the amount of Additional Rent then being paid by Tenant for Commencement Date and during the balance of the Lease Year (but in no event shall any such decrease result in a reduction of the Rent below the Monthly Rent plus all other amounts of Additional Rent) Notwithstanding the foregoingTerm, in no event will Tenant’s Pro Rata Share of that part of Operating Expenses that are “controllable” (i.e. all Operating Expenses other than those for utilities, security, and snow removal) (the “Controllable Expenses”) be greater than the “Controllable Expenses Cap” for such year. The first full calendar year of the initial Term shall Taxes be the Base Year for calculation of the Controllable Expenses Cap during the initial Term. (The Controllable Expenses for such Base Year shall be defined as the actual Controllable Expenses for such year even though the reconciled figures are not calculated until the following calendar year.) The Controllable Expenses Cap for the second full calendar year shall be 104% of the Controllable Expenses for the Base Year Year. For each calendar year thereafter during the initial Term, the Controllable Expenses Cap shall be lowered by any abatement or reduction on Taxes by reason 104% of a Proposition 8 reduction or otherwisethe Controllable Expenses Cap for the prior calendar year. Landlord’s and Beginning with the second calendar year of each renewal period, in no event will Tenant’s responsibilities with respect to Pro Rata Share of Controllable Expenses be greater than the Tax Controllable Expenses Cap for such calendar year. The first full calendar year of the renewal period shall be the Base Year for calculation of the Controllable Expenses Cap during the renewal period. (The Controllable Expenses for such Base Year shall be defined as the actual Controllable Expenses for such calendar year even though the reconciled figures are not calculated until the following calendar year.) The Controllable Expenses Cap for the second calendar year of such renewal period shall be 104% of the Controllable Expenses for the first calendar year of such renewal period. For each calendar year thereafter during such renewal period, the Controllable Expenses Cap shall be 104% of the Controllable Expenses Cap for the prior calendar year. The last calendar year of the initial Term and Operating Expense adjustments described herein the first calendar year of each renewal period shall survive the expiration or early termination be adjusted appropriately for any partial calendar year. Tenant shall pay Tenant’s Pro Rata Share of this Lease. If the Building is not fully occupied during any particular Lease Year, including Calendar Year 2011, Landlord shall adjust those Operating Expenses which that are affected by Building occupancy for not controllable throughout the particular Lease Year, or portion thereof, as the case may be, Term without regard to reflect an occupancy of not less than ninety-five percent (95%) of all such rentable area of the Buildingany cap.