Common use of Tenant Improvement Allowance Clause in Contracts

Tenant Improvement Allowance. Except for the Tenant Improvement Allowance Tenant shall be responsible, as to both cost and performance, for the Tenant Improvements. Landlord shall pay up to $45.00 per square foot of the Floor Area of the Demised Premises (“Tenant Improvement Allowance”) for the costs of the Tenant Improvements. The Tenant Improvement Allowance may be applied to all hard and soft construction costs, including architectural and engineering fees, moving costs, signage costs, data/telecommunications cabling costs, furniture, fixture and equipments costs, and construction management fees and for these purposes all of such costs shall be included in each reference to costs of the Tenant Improvements” or to similar phrases. In the event that the costs of the Tenant Improvements are less than the Tenant Improvement Allowance, the cost savings shall belong to Landlord and Tenant shall not be entitled to any payment, refund, credit or reduction in Basic Rent or other charges due under the Lease. If the costs of the Tenant Improvements exceed the Tenant Improvement Allowance, Tenant shall have the right to require Landlord to pay up to an additional $6.00 per square foot of the Floor Area of the Demised Premises for the costs of the Tenant Improvements, as an addition to the Tenant Improvement Allowance. Such additional contribution by Landlord to the Tenant Improvement Allowance shall be reimbursed by Tenant by increasing the Basic Rent by a monthly amount determined by amortizing such additional amount at an interest rate of eight percent (8%) per annum over the Lease Term. In such event, Landlord and Tenant shall enter into an amendment to the Lease memorializing the increase in the Tenant Improvement Allowance and the Basic Rent. Tenant agrees to provide notice to Landlord upon execution of this Lease, if Tenant desires to exercise its right to such additional contribution.

Tenant Improvement Allowance. Except for (1) Subject to the Tenant Improvement Allowance Tenant shall be responsibleconditions of this Construction Rider, as to both cost and performance, for the Tenant Improvements. Landlord shall pay up to $45.00 per square foot of Tenant a tenant improvement allowance (the Floor Area of the Demised Premises (“Tenant Improvement Allowance”) for in the amount equal to the lesser of: (A) One Million and 00/100 Dollars ($1,000,000.00), or (B) Tenant’s actual costs incurred in connection with the Tenant Improvements (the “Tenant’s Cost”), to be used by Tenant toward payment of a portion of the Tenant Improvements. The Tenant Improvement Allowance may be applied to all hard and soft construction costs, including architectural and engineering fees, moving costs, signage costs, data/telecommunications cabling costs, furniture, fixture and equipments costs, and construction management fees and for these purposes all of such costs shall be included in each reference to costs of the Tenant Improvements” or to similar phrases. In the event that the costs cost of the Tenant Improvements are less than as set forth below. Any cost of the Tenant Improvements over and above the Tenant Improvement Allowance, if any, the cost savings of any improvements not shown on the Plans and Specifications and the cost of any additional work required by Tenant, if any, shall belong be paid by Tenant. The Tenant’s Cost shall mean all hard and soft costs incurred by Tenant in connection with Tenant’s design, construction and completion of the Tenant Improvements in accordance with the Plans and Specifications, properly payable to bona fide third party unrelated claimants, including, without limitation, data and voice cabling, fire protection system equipment, energy management system equipment, space planning fees, architects’ and contractors’ fees, attorneys’ fees directly related to review of construction documents related to the Tenant Improvements, insurance and bond premiums, building permits, fees and licenses, but exclusive of any consulting fees other than to architects and contractors which are not affiliated with Tenant and construction management fees, and, except as expressly set forth above, exclusive of equipment, trade and business fixtures and other personal property of Tenant. Landlord and Tenant shall not be entitled obligated to pay any paymentpart of the Tenant Improvement Allowance unless and until (as determined by Landlord in Landlord’s sole I-1345641.7 judgment) all of the terms, refundconditions, credit and covenants set out in this Construction Rider (and specifically the requirements of Section III(2) below) have been satisfied. Notwithstanding the foregoing, Tenant has entered into an agreement with Xxxx X. Xxxxx & Associates Architects, Inc. (the “Architect”) for space planning services related to the Tenant Improvements. Fifty percent (50%) of any space planning fees related to work completed by the Architect prior to Tenant’s execution and delivery of this Lease and which become due and payable by Tenant to Architect prior to Tenant’s execution and delivery of this Lease (the “Early Space Planning Fees”) shall be reimbursed by Landlord within thirty (30) days after Landlord’s receipt of any invoices therefor. However, in no event shall Landlord’s reimbursement of the Early Space Planning Fees exceed $5,000.00. The Early Space Planning Fees shall not be included as part of the Tenant’s Cost. Any space planning fees from the Architect related to work completed by the Architect after Tenant’s execution and delivery of this Lease or reduction which become due and payable after the Tenant’s execution and delivery of this Lease shall be included as part of Tenant’s Cost and may be reimbursed as part of the Tenant Improvement Allowance pursuant to the terms of this Construction Rider. (2) Provided that Tenant is not in Basic Rent default under the Lease beyond any applicable grace period, nor is there an event that with the giving of notice and/or the passage of time would constitute a default under the Lease, then Landlord shall pay to Tenant the Tenant Improvement Allowance within thirty (30) days after the completion of all of the events listed below. (a) Substantial completion of the Tenant Improvements pursuant to the Plans and Specifications and Landlord’s receipt of a certificate from Tenant’s architect or other charges due under General Contractor stating that the Tenant Improvements have been substantially completed in accordance with the Plans and Specifications; (b) Landlord’s receipt of lien waivers as required by Landlord for the General Contractor and all subcontractors whose contracts are Ten Thousand and 00/100 Dollars ($10,000.00) or more; (c) Landlord’s receipt of a copy of a Certificate of Occupancy, or similar certificate, evidencing acceptance of the Premises by the appropriate governmental authorities, if applicable; and (d) Delivery of the replacement Letter of Credit, pursuant to Paragraph 24 of the Lease, in the amount of Seven Hundred Fifty Thousand and 00/100 Dollars ($750,000.00). (3) Tenant, at Tenant’s sole discretion, may perform the Tenant Improvements in various phases during the Term of the Lease. If Tenant elects to perform the costs Tenant Improvements in various phases, Tenant may request that Landlord pay to Tenant part of the I-1345641.7 Tenant Improvement Allowance in installments as the Tenant Improvements are completed and the conditions described in Section III(2) above are satisfied with respect to the portion of the Tenant Improvements exceed that have been completed. Notwithstanding the Tenant Improvement Allowanceforegoing, Tenant in no event shall have the right Landlord be required to require Landlord to pay up to an additional $6.00 per square foot make more than one (1) installment payment of the Floor Area of the Demised Premises for the costs of the Tenant Improvements, as an addition to the Tenant Improvement Allowance. Such additional contribution by Landlord to the Tenant Improvement Allowance shall be reimbursed by Tenant by increasing the Basic Rent by a monthly amount determined by amortizing such additional amount at an interest rate of eight percent in any thirty (8%30) per annum over the Lease Term. In such event, Landlord and day period. (4) Tenant shall enter into an amendment pay, at Tenant’s sole expense, for any costs related to the Lease memorializing Tenant Improvements in excess of the increase Tenant Improvements Allowance. (5) Provided that all the conditions set forth in Section III(2) of this Construction Rider above have been satisfied, in the event that there is any remaining portion of the Tenant Improvement Allowance upon completion of the Tenant Improvements (the “Tenant Improvement Allowance Balance”), then Landlord shall reimburse Tenant for Tenant’s direct, out-of-pocket and reasonable moving expenses related to Tenant’s move to the Basic Rent. Premises in an amount that is equal to the lesser of (i) the Tenant agrees to provide notice to Landlord upon execution Improvement Allowance Balance, (ii) Two Hundred Forty-Three Thousand and 00/100 Dollars ($243,000.00) or (iii) Tenant’s actual, direct, out-of-pocket and reasonable moving expenses, within thirty (30) days after Landlord’s receipt of this Lease, if Tenant desires to exercise its right a written invoice related to such additional contributionmoving expenses. (6) Any part of the Tenant Improvement Allowance for which Tenant has not requested reimbursement and satisfied the conditions for reimbursement on or before December 31, 2017 shall be deemed to be forfeited by Tenant and Landlord shall have no obligation to pay such portion of the Tenant Improvement Allowance to Tenant.

Tenant Improvement Allowance. Except for Tenant may perform alterations, additions and improvements to (i) the Existing Premises, (ii) the Expansion Space after Landlord has completed the Expansion Space Tenant Improvement Allowance Improvements described in Exhibits B and C and Tenant has occupied the Expansion Space and (iii) to the common area between the building located at 0000-0 Xxxxxx Xxxxx and the building located at 0000-0 Xxxxxx Xxxxx as necessary to trench approximately 275 feet and install telecommunications lines connecting such buildings as described in Exhibit D-1, all in accordance with the terms of the Lease and this Paragraph 2. All work to be performed by Tenant shall be responsibleperformed in a good and workmanlike manner, and in accordance with (i) all rules, regulations, codes and ordinances of any local, municipal, state and/or federal authorities having jurisdiction thereover, and (ii) all requirements of industry and rating bureaus. Permits, licenses or approvals required for said work from such authorities shall be obtained by Tenant at its sole cost and expense. In a timely manner, Tenant will obtain and provide to Landlord all approvals, tests and inspections with respect to electrical, HVAC, plumbing and telephone work, all as may be required by any agency or utility company. Landlord reserves the right to require changes in Tenant's work when necessary by reason of the requirements of any agency or utility company. Without limiting the generality of the foregoing, Tenant will be responsible for paying all fees and charges, however designated, which are payable as a condition to obtaining the building permit for Tenant's work. All work to be performed by Tenant will be in accordance with detailed plans and specifications prepared at Tenant's cost and submitted by Tenant to Landlord for Landlord's prior written approval. Landlord's approval (as to both cost design and performancematerials) may be granted or withheld in Landlord's reasonable discretion. Tenant will be responsible for any and all actual out-of-pocket costs incurred by Landlord directly related to the review and approval of Tenant's plans and specifications, including, but not limited to, plan expediting or courier service if required by all appropriate authorities, review by outside consultants, overnight mail and photocopying. It is expressly agreed that Tenant will not commence any work until the detailed drawings prepared for Tenant by an appropriate design professional in accordance with preliminary plans and specifications approved by Landlord have been approved by Landlord and any and all required building permits have been issued by applicable governmental authorities. No changes of materials or finishes are permitted after final approval by Landlord of the detailed drawings unless those changes are expressly approved in writing by Landlord. It is Tenant's sole responsibility to complete and submit drawings per the requirements and protocols of all appropriate authorities. Landlord and Tenant Improvements. hereby agree that Landlord shall pay up to Tenant as a construction allowance an amount equal to thirty-five thousand and 00/100 dollars ($45.00 per square foot of the Floor Area of the Demised Premises 35,000.00) (“hereinafter "Tenant Improvement Allowance”) for the costs of the Tenant Improvements"). The Tenant Improvement Allowance may be applied to all hard and soft construction costs, including architectural and engineering fees, moving costs, signage costs, data/telecommunications cabling costs, furniture, fixture and equipments costs, and construction management fees and for these purposes all of such costs shall be included paid to Tenant in each reference to costs of accordance with the Tenant Improvements” or to similar phrases. In the event that the costs of the Tenant Improvements are less than the Tenant Improvement Allowance, the cost savings shall belong to Landlord following terms and Tenant shall not be entitled to any payment, refund, credit or reduction in Basic Rent or other charges due under the Lease. If the costs of the Tenant Improvements exceed the Tenant Improvement Allowance, Tenant shall have the right to require Landlord to pay up to an additional $6.00 per square foot of the Floor Area of the Demised Premises for the costs of the Tenant Improvements, as an addition to the Tenant Improvement Allowance. Such additional contribution by Landlord to the Tenant Improvement Allowance shall be reimbursed by Tenant by increasing the Basic Rent by a monthly amount determined by amortizing such additional amount at an interest rate of eight percent (8%) per annum over the Lease Term. In such event, Landlord and Tenant shall enter into an amendment to the Lease memorializing the increase in the Tenant Improvement Allowance and the Basic Rent. Tenant agrees to provide notice to Landlord upon execution of this Lease, if Tenant desires to exercise its right to such additional contribution.conditions:

Tenant Improvement Allowance. Except (a) Reference herein to “Tenant Improvements” shall include any or all of the following work to be done in the Premises pursuant to the Tenant Improvement Plans: (i) Installation within the Premises of all partitioning, doors, floor coverings, ceilings, painting, millwork and similar items; (ii) All electrical wiring, lighting fixtures, outlets and switches, and other electrical work to be installed within the Premises, and additional panels or transformers to accommodate Tenant’s requirements; (iii) The furnishing and installation of all duct work, terminal boxes, diffusers and accessories required for the completion of the heating, ventilation and air conditioning systems within the Premises; (iv) All fire and life safety control systems, such as fire walls, sprinklers, halon, fire alarms, including piping, wiring and accessories, installed within the Premises; (v) All plumbing, fixtures, pipes and accessories to be installed within the Premises; (vi) Testing and inspection costs; Contractor’s fees, including but not limited to any fees based on general conditions; and (viii) Design fees and construction management by Landlord’s representative for the supervision of the tenant improvement installation. In no event, however, shall the Tenant Improvements include trade fixtures, furniture or equipment of the Tenant. (b) Landlord hereby grants to Tenant a “Tenant Improvement Allowance” of $179,127.30. Landlord’s maximum contribution towards the Tenant Improvements shall be limited to the Tenant Improvement Allowance. The Tenant Improvement Allowance shall be used for: (i) Payment of the cost of preparing the space plan and the Tenant Improvement Plans, including mechanical, electrical, plumbing and structural drawings and of all other aspects necessary to complete the Tenant Improvement Plans. (ii) Payment of fees of consultants, designers, space planners and architects relating to design and construction of the Tenant Improvements. (iii) The payment of plan check, permit and license fees relating to construction of the Tenant Improvements. (iv) Construction of the Tenant Improvements; provided, however, that the Tenant Improvement Allowance will not be used for Non-Standard Improvements, if any, unless Landlord, in its sole discretion, agrees in writing to payment of some or all of the Non-Standard Improvements out of the Tenant Improvement Allowance. (v) All other costs expended by Landlord in the construction of the Tenant Improvements, including those costs incurred by Landlord for construction of elements of the Tenant Improvements in the Premises. (c) The costs of each item referenced in Paragraph 2(b) above shall be charged against the Tenant Improvement Allowance. In the event that the cost of installing the Tenant Improvements, as established by Landlord’s final pricing schedule, shall exceed the Tenant Improvement Allowance, or if any of the Tenant Improvements are not to be paid out the Tenant Allowance as provided in Paragraph 2(b) above, the excess shall be paid by Tenant to Landlord prior to the commencement of construction of the Tenant Improvements. (d) In the event that, after the Tenant Improvement Plans have been prepared and a price therefor established by Landlord, Tenant shall require any changes or substitutions to the Tenant Improvement Plans, any additional costs related thereto shall be responsible, as paid by Tenant to both cost and performance, for Landlord prior to the commencement of construction of the Tenant Improvements. Landlord shall pay up have the right to $45.00 per square foot of decline Tenant’s request for a change to the Floor Area of the Demised Premises (“Tenant Improvement Allowance”) for Plans if such changes are inconsistent with the costs provisions of Paragraph 3 and 4 below, or if the change would, in Landlord’s opinion, unreasonably delay construction of the Tenant Improvements. The . (e) Any unused portion of the Tenant Improvement Allowance may be applied to all hard and soft construction costs, including architectural and engineering fees, moving costs, signage costs, data/telecommunications cabling costs, furniture, fixture and equipments costs, and construction management fees and for these purposes all of such costs shall be included in each reference to costs of the Tenant Improvements” or to similar phrases. In the event that the costs upon completion of the Tenant Improvements are less than the shall be credited against any obligation of Tenant Improvement Allowance, the cost savings shall belong to Landlord and Tenant shall not be entitled to any payment, refund, credit or reduction in Basic Rent or other charges due under the Lease. If the costs of the Tenant Improvements exceed the Tenant Improvement Allowance, Tenant shall have the right to require Landlord to pay up to an additional $6.00 per square foot of the Floor Area of the Demised Premises for the costs of the Tenant Improvements, as an addition to the Tenant Improvement Allowance. Such additional contribution by Landlord to the Tenant Improvement Allowance shall be reimbursed by Tenant by increasing the Basic Rent by a monthly amount determined by amortizing such additional amount at an interest rate of eight percent (8%) per annum over the Fourth Lease Term. In such event, Landlord and Tenant shall enter into an amendment to the Lease memorializing the increase in the Tenant Improvement Allowance and the Basic Rent. Tenant agrees to provide notice to Landlord upon execution of this Lease, if Tenant desires to exercise its right to such additional contributionAmendment.

Tenant Improvement Allowance. Except for the Tenant Improvement Allowance Tenant shall be responsibleLandlord agrees to provide up to, as to both cost but not in excess of Twenty Three Thousand Five Hundred and performance, for the Tenant Improvements. Landlord shall pay up to No/100 Dollars ($45.00 23,500.00) (calculated at $5.81 per square foot of the Floor Net Rentable Area of the Demised Premises (“Tenant Improvement Allowance”Premises, excluding the Data Center) for costs of constructing the Landlord Leasehold Improvements (the "Tenant Allowance"). Any excess costs must be paid by Tenant. The cost of constructing Landlord Leasehold Improvements will include (a) fees and expenses of the Architect in connection with preparation of the Final Working Drawings and Specifications, (b) costs of labor and materials, (c) fees and other charges payable to contractors, (d) fees to governmental authorities for permits, inspections, and certificates of occupancy, including but not limited to the costs for removal of any existing computer cabling or communication lines which are required to be removed from the Premises or between the ceilings and concrete decks above the Premises in order to obtain a Certificate of Occupancy, (e) utilities during construction, and (f) other out-of-pocket costs and expenses incurred by Landlord that are directly related to the preparation of the Final Working Drawings and Specifications or the construction of the Landlord Leasehold Improvements. Tenant must pay Landlord the estimated cost of constructing the Landlord Leasehold Improvements in excess of the Tenant Allowance in full prior to commencement of construction of the Landlord Leasehold Improvements. The Any underpayment based on such estimate must be paid by Tenant Improvement Allowance may be applied to all hard and soft construction costs, including architectural and engineering fees, moving costs, signage costs, data/telecommunications cabling costs, furniture, fixture and equipments costs, and construction management fees and for these purposes all Landlord within five (5) days after delivery of such costs shall be included in each reference Landlord's invoice to costs Tenant reflecting the final accounting of the Construction Costs of the Landlord Leasehold Improvements; and any overpayment by Tenant Improvements” or to similar phraseswill be credited against the Monthly Rent Installment(s) under the Lease. In the event that the costs final cost of the Tenant Landlord Leasehold Improvements are is less than the Tenant Improvement Allowance, Landlord agrees to allow Tenant the cost savings shall belong right to Landlord and (i) apply the balance of the Tenant shall not be entitled to any payment, refund, Allowance as a credit or reduction in Basic against the Monthly Rent or other charges due Installment(s) under the Lease. If , or (ii) use the costs balance of the Tenant Improvements exceed Allowance for the Tenant Improvement Allowance, Tenant shall have Leasehold Improvements and interior decorating and to furnish the right to require Landlord to pay up to an additional $6.00 per square foot of the Floor Area of the Demised Premises for the costs of the Tenant Improvements, as an addition to the Tenant Improvement Allowance. Such additional contribution by Landlord to the Tenant Improvement Allowance shall be reimbursed by Tenant by increasing the Basic Rent by a monthly amount determined by amortizing such additional amount at an interest rate of eight percent (8%) per annum over the Lease Term. In such event, Landlord and Tenant shall enter into an amendment to the Lease memorializing the increase in the Tenant Improvement Allowance and the Basic Rent. Tenant agrees to provide notice to Landlord upon execution of this Lease, if Tenant desires to exercise its right to such additional contributionPremises.

Tenant Improvement Allowance. Except Provided Tenant is not in default hereunder, Landlord will provide Tenant with a Tenant Improvement Allowance of $25.00 per rentable square foot. There shall be deducted from said Tenant Improvement Allowance the following: (i) 50% of the cost of purchase and installation of the emergency generator for the Building, (ii) 50% of all costs of upgrading the power capacity of the Building from 3500 amps to 4000 amps, including, without limitation, any delay costs (not to exceed $5,000.00) imposed upon Landlord under its construction contract with Opus attributable to said power capacity upgrades, (iii) all costs to Landlord associated with using the roofer under contract with Opus, Tenant acknowledging and understanding that use of said roofer in connection with the installation of Tenant’s rooftop equipment and screens is required in order to maintain the roof warranty on the Building, and (iv) the cost of supporting, extending and connecting all screens on the roof, including, without limitation, all new screens, vertical steel beams, secondary structural support and all related costs. Landlord shall fund the Tenant Improvement Allowance on a pro rata basis as Tenant pays its contractor for Tenant’s work. Landlord’s contribution shall be responsiblefunded based on the fraction of each construction draw, as to both cost and performance, for the Tenant Improvements. Landlord shall pay up to numerator of which is $45.00 25.00 per rentable square foot and the denominator of which is the Floor Area total cost of all work by Tenant to prepare the Demised Premises (“Tenant Improvement Allowance”) for the costs of the Tenant ImprovementsTenant’s occupancy. The Tenant Improvement Allowance may be applied to all hard and soft construction costs, including architectural and engineering fees, moving costs, signage costs, data/telecommunications cabling costs, furniture, fixture and equipments costs, and construction management fees and for these purposes all of such costs shall be included in each reference to costs of the Tenant Improvements” or to similar phrases. In the event that the costs of the Tenant Improvements are less than the Tenant Improvement Allowance, the cost savings shall belong to Landlord and Tenant shall not be entitled to any payment, refund, credit or reduction in Basic Rent or other charges due under the Lease. If the costs of the Tenant Improvements exceed the Tenant Improvement Allowance, Tenant shall have the right to reasonably approve Tenant’s schedule of estimated construction disbursements. Landlord shall require Landlord Tenant to pay up provide appropriate lien waivers and other evidence of payment contractors, subcontractors and material suppliers prior to an additional $6.00 per square foot funding any of the Floor Area of the Demised Premises for the costs of the Tenant Improvements, as an addition to the Tenant Improvement Allowance. Such additional contribution by Landlord to the Tenant Improvement Allowance shall be reimbursed by Tenant by increasing the Basic Rent by a monthly amount determined by amortizing such additional amount at an interest rate of eight percent (8%) per annum over the Lease Term. In such event, Landlord and Tenant shall enter into an amendment to the Lease memorializing the increase in the Tenant Improvement Allowance and the Basic Rent. Tenant agrees to provide notice to Landlord upon execution of this Lease, if Tenant desires to exercise its right to such additional contribution.

Tenant Improvement Allowance. Except for Lessor shall contribute to the Tenant Improvement Allowance Tenant shall be responsible, as to both cost and performance, for the Tenant Improvements. Landlord shall pay of ---------------------------- constructing Lessor's Work a tenant improvement allowance of up to a maximum of Four Dollars ($45.00 per 4.00) times the number of square foot of feet in the Floor Area of the Demised Premises (“Tenant Improvement Allowance”) for the costs of the Tenant Improvements"Lessor's Contribution"). The Tenant Improvement Allowance may Costs to be applied to all hard paid by Lessor from said allowance shall include without limitation: (a) The cost of preliminary space planning and soft construction costs, including final architectural and engineering feesplans and specifications (i.e., moving costsFinal Plans) for Lessor's Work; (b) All costs of obtaining building permits and other necessary authorizations from appropriate governmental authorities; (c) All costs of interior design and finish schedule plans and specifications including as-built drawings; EXHIBIT B --------- (d) All direct and indirect costs of performing Lessor's Work in the Premises, signage costsincluding the construction fee for overhead and profit and the cost of all on-site supervisory and administrative staff, data/telecommunications cabling costsoffice, equipment and temporary services rendered by Lessor's contractor in connection with Lessor's Work; (e) All fees payable to Lessor's architectural and engineering firm if it is required by Lessee to redesign any portion of the tenant improvements following Lessee's approval of the Final Plans; In no event shall the Improvement Costs include any costs of procuring or installing in the Premises any trade fixtures, equipment, furniture, fixture and equipments costsfurnishings, telephone equipment or other Personal property (collectively, "Personal Property") to be used in the Premises by Lessee, and construction management fees and for these purposes all the cost of such costs personal Property shall be included in each reference to costs of the Tenant Improvements” or to similar phrases. In the event that the costs of the Tenant Improvements are less than the Tenant Improvement Allowance, the cost savings shall belong to Landlord and Tenant shall not be entitled to any payment, refund, credit or reduction in Basic Rent or other charges due under the Leasepaid by Lessee. If the costs Improvement Costs exceed Lessor's Contribution, then Lessee shall pay all Improvement Costs in excess of Lessor's Contribution ("Lessee's Share of the Tenant Improvements exceed Improvement Costs") within ten (10) days after the Tenant Improvement Allowancedate of receipt of Lessor's invoice therefor. At Lessee's option, Tenant shall Lessee may elect to have the right to require Landlord to pay up to an additional $6.00 per square foot Lessee's Share of the Floor Area Improvement Costs, not to exceed Three Dollars ($3.00) times the number of square feet in the Demised Premises for the costs of the Tenant ImprovementsPremises, as an addition added to the Tenant Improvement Allowance. Such additional contribution by Landlord to Base Rent in the Tenant Improvement Allowance shall be reimbursed by Tenant by increasing the Basic Rent by a monthly amount determined by amortizing such additional amount at an interest rate of eight percent (8%) per annum over the Lease Termfollowing manner. In such event, Landlord monthly Base Rent shall be increased by an amount equal to Lessee's Share of the Improvement Costs amortized over the term of the Lease multiplied by 1.015 and Tenant Lessor and Lessee shall enter into execute an amendment addendum to the Lease memorializing setting forth the increase in the Tenant Improvement Allowance and the Basic Rent. Tenant agrees to provide notice to Landlord upon execution of this Lease, if Tenant desires to exercise its right to such additional contributionmonthly Base Rent so adjusted.

Tenant Improvement Allowance. Except Landlord shall contribute to the cost of constructing Landlord's Work a tenant improvement allowance of up to a maximum cost to Landlord of Three Hundred Sixty-seven Thousand Five Hundred Dollars ($367,500), Twenty-five Dollars ($25.00) per rentable square foot in the Premises ("Landlord's Contribution"). Landlord, at its sole cost, will separately meter electrical service to the first and second floors of the Premises, respectively. The Improvement Costs to be paid by Landlord from said allowance shall include: (a) The cost of preliminary space planning and final architectural and engineering plans and specifications (i.e., Final Plans) for Landlord's Work, excluding the costs incurred to measure the Premises in accordance with BOMA standards; (b) All costs of obtaining building permits and other necessary authorizations from the City of Half Moon Bay, the County of San Mateo, and/or the State of California; (c) All costs of interior design and finish schedule plans and specifications including as-built drawings; (d) All direct and indirect costs of performing Landlord's Work in the Premises, including the construction fee for overhead and profit and the cost of all 52 on-site supervisory and administrative staff, office, equipment and temporary services rendered by Landlord's contractor in connection with Landlord's Work; and (e) All fees payable to Landlord's architectural and engineering firm if it is required by Tenant to redesign any portion of the tenant improvements following Tenant's approval of the Final Plans. In no event shall the Improvement Allowance Costs include any costs of procuring or installing in the Premises any trade fixtures, equipment, furniture, furnishings, telephone equipment or other personal property (collectively, "Personal Property") to be used in the Premises by Tenant, and the cost of such Personal Property shall be paid by Tenant. If the Improvement Costs exceed Landlord's Contribution, then Tenant shall pay all Improvement Costs in excess of Landlord's Contribution within ten (10) days after the date of receipt of Landlord's invoice therefor. If the Improvement Costs are less than Landlord's Contribution, Tenant shall be responsible, as to both cost and performance, for the Tenant Improvements. Landlord shall pay up to $45.00 per square foot of the Floor Area of the Demised Premises (“Tenant Improvement Allowance”) for the costs of the Tenant Improvements. The Tenant Improvement Allowance may be applied to all hard and soft construction costs, including architectural and engineering fees, moving costs, signage costs, data/telecommunications cabling costs, furniture, fixture and equipments costs, and construction management fees and for these purposes all of such costs shall be included in each reference to costs of the Tenant Improvements” or to similar phrases. In the event that the costs of the Tenant Improvements are less than the Tenant Improvement Allowance, the cost savings shall belong to Landlord and Tenant shall not be entitled to utilize the same at any payment, refund, credit or reduction in Basic Rent or other charges due under the Lease. If the costs of the Tenant Improvements exceed the Tenant Improvement Allowance, Tenant shall have the right to require Landlord to pay up to an additional $6.00 per square foot of the Floor Area of the Demised Premises for the costs of the Tenant Improvements, as an addition to the Tenant Improvement Allowance. Such additional contribution by Landlord to the Tenant Improvement Allowance shall be reimbursed by Tenant by increasing the Basic Rent by a monthly amount determined by amortizing such additional amount at an interest rate of eight percent (8%) per annum over time during the Lease Term. In such event, Landlord and Tenant shall enter into an amendment to the Lease memorializing the increase term in the Tenant Improvement Allowance and the Basic Rent. Tenant agrees to provide notice to Landlord upon execution of this Lease, if Tenant desires to exercise its right to such additional contributionconnection with any permitted alterations made by Tenant.