Common use of Tenant’s Option to Renew Clause in Contracts

Tenant’s Option to Renew. All options to renew the Amended Lease are hereby deleted in their entirety. The following renewal right is added to the Lease reading as follows: The Tenant is hereby granted two (2) five (5) year options to renew the Lease (“Renewal Option”). If the Tenant desires to exercise the Renewal Option, it shall so notify the Landlord, in writing, not later than twelve (12) months prior to the then current expiration date of the Term. Such notice shall only be effective if delivered at a time when the Tenant is not in Default hereunder. Within thirty (30) days following its receipt of Tenant’s notice of its desire to exercise the Renewal Option, given at the time and in the manner provided above, Landlord shall prepare and transmit to Tenant an appropriate amendment to this Lease extending the Term for five (5) years (each a “Renewal Term”; the first such five (5) year period being herein referred to as the “First Renewal Term” and the second such five (5) year period being herein referred to as the “Second Renewal Term”) and specifying (i) the Base Rent for such extension, which shall be the base rental rate for tenants of comparable size and location renewing leases in first-class office buildings located in downtown Chicago, including, but not limited to, the Building taking into account any tenant improvement allowances, commissions, abatements and other concessions granted as reasonably determined by Landlord and evidenced by recent transactions which shall be disclosed to Tenant (“Market Rent”) and (ii) that all other terms and conditions during the Renewal Term are the same as those during the Term, except for any tenant improvement allowances, abatements, other concessions, rights of first offer, expansion rights, termination rights, reduction rights; and renewal rights (other than for Tenant’s right to exercise the Renewal Option for the Second Renewal Term if Tenant has exercised the Renewal Option for the First Renewal Term) unless reflected in the Market Rent. If Tenant disagrees with Landlord’s estimation of the Market Rent, it must so notify Landlord in writing within twenty (20) days after Tenant’s receipt of Landlord’s proposed Market Rent and Tenant shall specify Tenant’s estimation of the Market Rent in such notice. If the parties are unable to agree on the Market Rent for the Renewal Term within ten (10) days following Landlord’s receipt of Tenant’s estimation of the Market Rent (such ten (10) day period being herein referred to as the “Negotiation Period”), Tenant shall, within five (5) days following the expiration of the Negotiation Period, elect in writing to (x) promptly enter into binding arbitration in accordance with the provisions of Section 9 of this Eighth Amendment or (y) revoke its right to exercise the Renewal Option, in which case Tenant shall have no further rights under this Section 8 (and Tenant’s exercise of the Renewal Option and any subsequent Renewal Option shall be of no force or effect) and Landlord may lease the 49th Floor Premises to a third party free of the provisions of this Section 8. In the event Tenant fails to timely make such election, Tenant shall be deemed to have elected to enter into binding arbitration in accordance with the provisions of Section 9 of this Eighth Amendment. Once Tenant elects, or is deemed to have elected, to enter into binding arbitration in accordance with the provisions of Section 9 hereof, it may not revoke its exercise of the Renewal Option. Tenant shall execute and deliver the lease amendment extending the Term (x) within fifteen (15) days of the determination of the Market Rent, if the Market Rent is determined by arbitration in accordance with Section 9 below or (y) within fifteen (15) days of the determination of Market Rent, if the parties are able to reach agreement between themselves prior to arbitration. If Tenant shall be in Default hereunder at the commencement date of any Renewal Term, then, at Landlord’s option, Tenant’s purported exercise of its Renewal Option and any subsequent Renewal Option shall be of no force or effect and the Renewal Option shall become null and void. The Renewal Options are personal to the Tenant first named in the Lease and may not be exercised by any assignee (other than a Permitted Assignee), subtenant or transferee.

Tenant’s Option to Renew. All options to Tenant may, at its option, renew the Amended term of this Lease are hereby deleted for one (1) additional term(s) of sixty (60) months or such lesser period as mutually agreed upon, provided that this Lease must be in their entiretyfull force and effect under the original term or any valid renewal thereof, and Tenant shall not be in default in any of its obligations under this Lease at the time of exercise of such option or at the time the renewal term would begin. The following Each renewal right is added shall be upon the same terms and conditions as provided elsewhere in this Lease, except that (i) the original term of this Lease may not be renewed more often than as set forth above, (ii) Landlord shall have no obligation to install improvements in the Premises, and (iii) the annual Base Rent for such renewal period(s), i.e., to be payable in equal monthly installments in the same manner as during the primary Lease reading as follows: The Tenant is hereby granted two Term, shall be the Prevailing Market Rate (2) five (5) year options to renew the Lease (“Renewal Option”described below). If the Tenant desires Such option shall be exercised by Tenant’s giving notice to exercise the Renewal OptionLandlord by certified mail, it shall so notify the Landlordreturn receipt requested, in writing, not later than twelve at least nine (129) months prior to the then current expiration date end of the Termthen-existing term; and, if not so exercised, such option shall automatically expire and terminate (i.e., time being of the essence). Such notice shall only be effective if delivered at a time when For purposes of determining the Tenant is not in Default hereunder. Within thirty (30) days following its receipt of Tenant’s notice of its desire to exercise the Renewal Option, given at the time and in the manner provided above, Landlord shall prepare and transmit to Tenant an appropriate amendment to this Lease extending the Term for five (5) years (each a “Renewal Term”; the first such five (5) year period being herein referred to as the “First Renewal Term” and the second such five (5) year period being herein referred to as the “Second Renewal Term”) and specifying (i) the annual Base Rent for such extensioneach renewal period, which the “Prevailing Market Rate” shall be defined as the base rental rate for then being paid by tenants in buildings of comparable size quality, condition, and location renewing leases age for space of similar quality in first-class office buildings located similar properties in downtown Chicago, including, but not limited to, the Building taking into account any tenant improvement allowances, commissions, abatements and other concessions granted as reasonably determined by Landlord and evidenced by recent transactions which submarket. The expense stop (Base Year) shall be disclosed adjusted at the end of the primary term to Tenant (“Market Rent”) and (ii) that all other terms and conditions equate to Landlord’s actual costs during the Renewal Term are last year of the same as those during the Term, except for any tenant improvement allowances, abatements, other concessions, rights of first offer, expansion rights, termination rights, reduction rights; and renewal rights (other than for Tenant’s right to exercise the Renewal Option for the Second Renewal Term proceeding term if Tenant has exercised the Renewal Option for the First Renewal Termexercises its option(s) unless reflected in the Market Rentto renew. If Tenant disagrees with Landlord’s estimation of the Market Rent, it must so notify Landlord in writing within twenty Aerospace Insurance Lease Agreement (20) days after Tenant’s receipt of Landlord’s proposed Market Rent and Tenant shall specify Tenant’s estimation of the Market Rent in such notice. If the parties are unable to agree on the Market Rent for the Renewal Term within ten (10) days following Landlord’s receipt of Tenant’s estimation of the Market Rent (such ten (10) day period being herein referred to as the “Negotiation Period”revised 7/12/2010), Tenant shall, within five (5) days following the expiration of the Negotiation Period, elect in writing to (x) promptly enter into binding arbitration in accordance with the provisions of Section 9 of this Eighth Amendment or (y) revoke its right to exercise the Renewal Option, in which case Tenant shall have no further rights under this Section 8 (and Tenant’s exercise of the Renewal Option and any subsequent Renewal Option shall be of no force or effect) and Landlord may lease the 49th Floor Premises to a third party free of the provisions of this Section 8. In the event Tenant fails to timely make such election, Tenant shall be deemed to have elected to enter into binding arbitration in accordance with the provisions of Section 9 of this Eighth Amendment. Once Tenant elects, or is deemed to have elected, to enter into binding arbitration in accordance with the provisions of Section 9 hereof, it may not revoke its exercise of the Renewal Option. Tenant shall execute and deliver the lease amendment extending the Term (x) within fifteen (15) days of the determination of the Market Rent, if the Market Rent is determined by arbitration in accordance with Section 9 below or (y) within fifteen (15) days of the determination of Market Rent, if the parties are able to reach agreement between themselves prior to arbitration. If Tenant shall be in Default hereunder at the commencement date of any Renewal Term, then, at Landlord’s option, Tenant’s purported exercise of its Renewal Option and any subsequent Renewal Option shall be of no force or effect and the Renewal Option shall become null and void. The Renewal Options are personal to the Tenant first named in the Lease and may not be exercised by any assignee (other than a Permitted Assignee), subtenant or transferee.

Tenant’s Option to Renew. All options to renew the Amended Lease are hereby deleted 30.1 Subject in their entirety. The following renewal right is added all respects to the provisions of this paragraph, and provided that this Lease reading as follows: The is in good standing, Tenant is hereby granted two shall have four (24) five (5) consecutive five-year options to renew the Lease (“Renewal Option”). If the Tenant desires to exercise "OPTION PERIODS") for the Renewal Option, it shall so notify the Landlord, in writing, not later than Demised Premises upon twelve (12) months months' prior written notice. Tenant's exercise of any such option shall be subject to withdrawal pursuant to paragraph 30.5 in the event Tenant does not accept the arbitrator's determination of the Fair Market Rates. 30.2 The rental rate for the first and third Option Periods shall be at the lesser of the then current expiration date rental rate or 95% of the Termthen current Fair Market Rate for the Demised Premises. Such notice shall only be effective if delivered at a time when In determining the Tenant is not in Default hereunder. Within thirty (30) days following its receipt of Tenant’s notice of its desire to exercise the Renewal Option, given at the time and in the manner provided aboveFair Market Rate, Landlord shall prepare and transmit to Tenant an appropriate amendment to this Lease extending consider all elements affecting the Term for five (5) years (each a “Renewal Term”; the first such five (5) year period being herein referred to as the “First Renewal Term” and the second such five (5) year period being herein referred to as the “Second Renewal Term”) and specifying (i) the Base Rent for such extension, which shall be the base rental rate for tenants of comparable size and location renewing leases in first-class office buildings located in downtown Chicagolease transaction, including, but not limited toto Tenant's creditworthiness, the Building taking into account improvement allowance or rental abatement being provided, and the fact that Landlord will not lose rent because of any tenant improvement allowancesmarketing or construction time. 30.3 The rental rate for the second and fourth Option Periods will continue at the then current rental rate, commissionsincluding annual increases negotiated at the beginning of the first and third Option Periods. 30.4 In addition to the Option Periods described above, abatements and other concessions granted as reasonably determined by Landlord and evidenced by recent transactions which Tenant shall be disclosed to Tenant have a one (“Market Rent”1) and (ii) that all other terms and conditions during the Renewal Term are the same as those during the Term, except for any tenant improvement allowances, abatements, other concessions, rights of first offer, expansion rights, termination rights, reduction rights; and renewal rights (other than for Tenant’s time right to exercise extend any Term (Initial Term or Option Period) by one (1) year with 12 months' prior written notice to Landlord. The rental rate for such Term will continue at the Renewal Option annual increase for the Second Renewal Term if Tenant has exercised the Renewal Option for the First Renewal preceding Term) unless reflected in the Market Rent. If Tenant disagrees with Landlord’s estimation of exercises this one year extension, then all subsequent options for Option Periods shall remain in effect, but shall be postponed by one (1) year. 30.5 For the Market Rentfirst and third Option Periods, it must so notify Landlord in writing within twenty (20) days after Tenant’s receipt of Landlord’s proposed Market Rent and Tenant shall specify Tenant’s estimation negotiate the Fair Market Rate one (1) year prior to the expiration of the Market Rent in such noticethen current Term. If the parties are unable to Landlord and Tenant cannot agree on the Market Rent for the Renewal Term upon a rate within ten 30 days (10) days following Landlord’s receipt of Tenant’s estimation of the Market Rent (such ten (10) day period being herein referred to as the “Negotiation Period”"OUTSIDE AGREEMENT DATE"), Tenant shalleach party, within five (5) days following the expiration of the Negotiation PeriodOutside Agreement Date, elect in writing shall submit to (x) promptly enter into binding arbitration in accordance with the provisions other its determination of Section 9 of this Eighth Amendment or (y) revoke its right to exercise the Renewal OptionFair Market Rate, in which case Tenant shall have no further rights under this Section 8 (and Tenant’s exercise of the Renewal Option and any subsequent Renewal Option shall be of no force or effect) and Landlord may lease the 49th Floor Premises to a third party free of the provisions of this Section 8. In the event Tenant fails to timely make such electionand, Tenant shall be deemed to have elected to enter into binding arbitration in accordance with the provisions of Section 9 of this Eighth Amendment. Once Tenant elects, or is deemed to have elected, to enter into binding arbitration in accordance with the provisions of Section 9 hereof, it may not revoke its exercise of the Renewal Option. Tenant shall execute and deliver the lease amendment extending the Term (x) within fifteen (15) days of the Outside Agreement Date, Landlord and Tenant shall each appoint one (1) arbitrator who shall by profession be a real estate appraiser, having been active over the five (5) year ending on the date of such appointment in the valuation of properties similar to the Premises in the Miami-Dade County, Florida area. The determination of the arbitrators shall be limited solely to the issue of whether Landlord's or Tenant's submitted Fair Market Rent, if Rate for the Premises is the closest to the actual Fair Market Rent is Rate for the Demised Premises as determined by arbitration in accordance with Section 9 below or the arbitrators. The two (y2) arbitrators so appointed shall, within fifteen (15) days of the determination date of the appointment of the last of them, meet and attempt to reach a decision as to whether the parties shall use Landlord's or Tenant's submitted Fair Market RentRate and shall notify Landlord and Tenant of their decision, if any. If the parties two (2) arbitrators are able unable to reach agreement between themselves a decision, they shall, within twenty (20) days of the appointment of the last of them, agree upon and appoint a third (3rd) arbitrator, who shall be an appraiser qualified under the same criteria as set forth herein above for qualification of the initial two (2) arbitrators. The three (3) arbitrators shall, within fifteen (15) days of the appointment of the third (3rd) arbitrator, reach a decision as to whether the party shall use Landlord's or Tenant's submitted Fair Market Rate and shall notify Landlord and Tenant thereof. Tenant shall upon the later of 30 days from arbitrator's decision of the Fair Market Rate or six (6) months prior to arbitration. If lease expiration, notify Landlord whether it intends to accept the rent by exercising its option to renew. 30.6 At the beginning of each Option Period, the Landlord shall provide to Tenant shall be in Default hereunder a $2.50 per square foot TI Allowance for the premises so leased, payable to Tenant at the commencement date beginning of any Renewal Term, theneach Option period. Tenant may, at Landlord’s Tenant's option, Tenant’s purported exercise of its Renewal Option and any subsequent Renewal Option shall be of no force or effect and upon advance written notice to Landlord, elect to receive the Renewal Option shall become null and void. The Renewal Options are personal to the Tenant first named TI Allowance in the Lease and may not be exercised by any assignee (other than form of a Permitted Assignee), subtenant or transfereerental credit.

Tenant’s Option to Renew. All options to Except as provided by Paragraph 2(f) of the Lease, Tenant may, at its option, renew the Amended term of this Lease are hereby deleted for two additional terms of sixty (60) months each, provided that this Lease must be in their entirety. The following full force and effect under the original term or any valid renewal right is added to thereof, and no event of default exists under this Lease at the Lease reading as follows: The Tenant is hereby granted two (2) five (5) year options to renew time of exercise of such option or at the Lease (“Renewal Option”)time the renewal term would begin. If Tenant timely notifies Landlord that Tenant accepts Landlord’s determination of the Tenant desires to exercise Prevailing Rental Rate within 30 days of Landlord’s determination of the Renewal OptionPrevailing Rental Rate, it shall so notify then, on or before the Landlord, in writing, not later than twelve (12) months prior to the then current expiration commencement date of the extended Term. Such notice shall only be effective if delivered at a time when the Tenant is not in Default hereunder. Within thirty (30) days following its receipt of Tenant’s notice of its desire to exercise the Renewal Option, given at the time and in the manner provided above, Landlord and Tenant shall prepare and transmit to Tenant execute an appropriate amendment to this Lease extending the Term for five (5) years (each a “Renewal Term”; on the first such five (5) year period being herein referred to as the “First Renewal Term” and the second such five (5) year period being herein referred to as the “Second Renewal Term”) and specifying same terms provided in this Lease, except that (i) the Base Rent for such extensionoriginal term of this Lease may not be renewed more often than as set forth above, which shall be the base rental rate for tenants of comparable size and location renewing leases in first-class office buildings located in downtown Chicago, including, but not limited to, the Building taking into account any tenant improvement allowances, commissions, abatements and other concessions granted as reasonably determined by Landlord and evidenced by recent transactions which shall be disclosed to Tenant (“Market Rent”) and (ii) that all Landlord shall have no obligation to install improvements in the Premises; provided, if Landlord provides any such allowances or other terms tenant inducements for renewals of space in the Building, and conditions such allowances have been taken into account in determining the Prevailing Rental Rate, then Landlord shall provide such allowances to Tenant, (iii) the annual Base Rental for the first renewal period, i.e., to be payable in equal monthly installments in the same manner as during the Renewal Term are primary Lease Term, shall be 95% of the Prevailing Rental Rate (described below), and (iii) the annual Base Rental for the second renewal period, i.e., to be payable in equal monthly installments in the same manner as those during the primary Lease Term, except for any tenant improvement allowances, abatements, other concessions, rights of first offer, expansion rights, termination rights, reduction rights; and renewal rights (other than for Tenant’s right to exercise the Renewal Option for the Second Renewal Term if Tenant has exercised the Renewal Option for the First Renewal Term) unless reflected in the Market Rent. If Tenant disagrees with Landlord’s estimation shall be 100% of the Market RentPrevailing Rental Rate (described below) plus, it must so notify Landlord if the Parking Structure has been constructed pursuant to Paragraph 2(f), annual Base Rental for each renewal period that includes the 84-month period that Tenant is obligated to pay the additional Base Rental described in writing within twenty (20Paragraph 2(f)(iii) days after Tenant’s receipt of Landlord’s proposed Market Rent and Tenant shall specify Tenant’s estimation of the Market Rent Lease shall include the additional Base Rental described in such notice. If the parties are unable to agree on the Market Rent for the Renewal Term within ten (10Paragraph 2(f)(iii) days following Landlord’s receipt of Tenant’s estimation of the Market Rent (such ten (10) day period being herein referred to as the “Negotiation Period”), Tenant shall, within five (5) days following until the expiration of the Negotiation Period, elect in writing to (x) promptly enter into binding arbitration in accordance with the provisions of Section 9 of this Eighth Amendment or (y) revoke its right to exercise the Renewal Option, in which case Tenant such period. Each such option shall have no further rights under this Section 8 (and Tenant’s exercise of the Renewal Option and any subsequent Renewal Option shall be of no force or effect) and Landlord may lease the 49th Floor Premises to a third party free of the provisions of this Section 8. In the event Tenant fails to timely make such election, Tenant shall be deemed to have elected to enter into binding arbitration in accordance with the provisions of Section 9 of this Eighth Amendment. Once Tenant elects, or is deemed to have elected, to enter into binding arbitration in accordance with the provisions of Section 9 hereof, it may not revoke its exercise of the Renewal Option. Tenant shall execute and deliver the lease amendment extending the Term (x) within fifteen (15) days of the determination of the Market Rent, if the Market Rent is determined by arbitration in accordance with Section 9 below or (y) within fifteen (15) days of the determination of Market Rent, if the parties are able to reach agreement between themselves prior to arbitration. If Tenant shall be in Default hereunder at the commencement date of any Renewal Term, then, at Landlord’s option, Tenant’s purported exercise of its Renewal Option and any subsequent Renewal Option shall be of no force or effect and the Renewal Option shall become null and void. The Renewal Options are personal to the Tenant first named in the Lease and may not be exercised by any assignee Tenant’s giving notice to Landlord by certified mail, return receipt requested, at least 180 days prior to the end of the then-existing term; and, if not so exercised, such option shall automatically expire and terminate (other than a Permitted Assigneei.e., time being of the essence), subtenant or transferee.

Tenant’s Option to Renew. All options (a) Subject to the terms and conditions of this Article, Tenant shall have one (1) option to renew the Amended term of this Lease are hereby deleted in their entirety(such option herein called the "Renewal Option") for a term (the "Renewal Term") of ten (10) years. The following renewal right is added Subject to the Lease reading as follows: The provisions of this Article, the Renewal Term shall commence on the day ("Renewal Term Commencement Date") immediately following the Expiration Date, and end on the day immediately preceding the tenth (10th) anniversary of the Renewal Term Commencement Date. In order for Tenant is hereby granted two (2) five (5) year options to renew the Lease (“Renewal Option”). If the Tenant desires to effectively exercise the Renewal Option, it shall so notify the Landlord, in writing, not later than twelve (12) months prior to the then current expiration date all of the Term. Such notice shall only following conditions must be effective if delivered at a time when the Tenant is not in Default hereunder. Within thirty satisfied (30) days following its receipt of Tenant’s notice of its desire to exercise it being understood and agreed that the Renewal Option, given at the time and in the manner provided above, Landlord Option shall prepare and transmit be available to Tenant an appropriate amendment to this Lease extending the Term for five (5) years (each a “Renewal Term”; the first unless all such five (5) year period being herein referred to as the “First Renewal Term” and the second such five (5) year period being herein referred to as the “Second Renewal Term”) and specifying conditions are satisfied): (i) the Base Rent for such extension, which shall be the base rental rate for tenants of comparable size and location renewing leases in first-class office buildings located in downtown Chicago, including, but not limited to, the Building taking into account any tenant improvement allowances, commissions, abatements and other concessions granted as reasonably determined by Landlord and evidenced by recent transactions which shall be disclosed to Tenant (“Market Rent”) and (ii) that all other terms and conditions during the Renewal Term are the same as those during the Term, except for any tenant improvement allowances, abatements, other concessions, rights of first offer, expansion rights, termination rights, reduction rights; and renewal rights (other than for Tenant’s right to exercise the Renewal Option for the Second Renewal Term if Tenant has exercised the Renewal Option for the First Renewal Term) unless reflected in the Market Rent. If Tenant disagrees with Landlord’s estimation of the Market Rent, it must so notify Landlord in writing within twenty (20) days after Tenant’s receipt of Landlord’s proposed Market Rent and Tenant shall specify Tenant’s estimation not be in default under any of the Market Rent in such notice. If the parties are unable to agree on the Market Rent for the Renewal Term within ten (10) days following Landlord’s receipt of Tenant’s estimation of the Market Rent (such ten (10) day period being herein referred to as the “Negotiation Period”), Tenant shall, within five (5) days following the expiration of the Negotiation Period, elect in writing to (x) promptly enter into binding arbitration in accordance with the provisions of Section 9 this Lease beyond any applicable notice and/or cure period herein provided, both as of this Eighth Amendment or (y) revoke its right to exercise the Renewal Option, in which case Tenant shall have no further rights under this Section 8 (and Tenant’s time of the exercise of the Renewal Option and any subsequent as of the time of the commencement date of the Renewal Term; (ii) Tenant shall have given written notice to Landlord exercising the Renewal Option not later than the date which is nine (9) months prior to the commencement date of the Renewal Term and not earlier than the date which is eighteen (18) months prior to such commencement date; (iii) this Lease remains in full force and effect as of the day immediately preceding the commencement date of the Renewal Term; and (iv) Tenant shall be in actual occupancy of no force or effectat least fifty (50%) percent of the gross floor area of the improvements at the demised premises, both as of the time of the exercise of the Renewal Option and Landlord may lease as of the 49th Floor Premises time of the commencement of the Renewal Term. If Tenant shall timely and effectively exercise the Renewal Option, this Lease, subject to a third party free of the provisions of this Section 8. In Article, shall automatically be extended for the event Tenant fails to timely make Renewal Term with the same force and effect as if such electionRenewal Term had been originally included in the term of this Lease, Tenant and such renewal shall be deemed to upon all of the same terms and conditions contained in this Lease, as the same shall have elected to enter into binding arbitration been modified or amended in accordance with writing, except that (i) the provisions fixed minimum rent for the Renewal Term shall be (x) $560,000.00 per annum, payable in the manner provided in this Lease for the payment of Section 9 fixed minimum rent, for the period commencing on the Renewal Term Commencement Date and ending on the last day of this Eighth Amendment. Once Tenant elects, or is deemed to have elected, to enter into binding arbitration the calendar month in accordance with which falls the provisions of Section 9 hereof, it may not revoke its exercise fifth (5th) anniversary of the Renewal Option. Tenant shall execute Term Commencement Date, and deliver the lease amendment extending the Term (x) within fifteen (15) days of the determination of the Market Rent, if the Market Rent is determined by arbitration in accordance with Section 9 below or (y) within fifteen (15) days $640,000.00 per annum, payable in the manner provided in this Lease for the payment of fixed minimum rent, for the period commencing on the first day of the determination calendar month immediately following the calendar month in which falls such fifth (5th) anniversary and ending on the last day of Market Rent, if the parties are able to reach agreement between themselves prior to arbitration. If Tenant shall be in Default hereunder at the commencement date of any Renewal Term, then, at Landlord’s option, Tenant’s purported exercise and (ii) Tenant shall have no right to renew the term of its Renewal Option and this Lease for any subsequent Renewal Option shall be of no force or effect and period beyond the Renewal Option shall become null and void. The Renewal Options are personal to the Tenant first named in the Lease and may not be exercised by any assignee (other than a Permitted Assignee), subtenant or transferee.Term

Tenant’s Option to Renew. All options to renew (a) Provided that in the Amended Lease are hereby deleted in their entirety. The following renewal right is added to the Lease reading as follows: The Tenant is hereby granted two (2) five (5) year options to renew the Lease (“Renewal Option”). If the Tenant desires to exercise the Renewal Option, it shall so notify the Landlord, in writing, not later than twelve (12) months prior to the then current expiration date reasonable opinion of the Term. Such notice shall only be effective if delivered at a time when Landlord the Tenant is not in Default hereunder. Within thirty (30) days following its receipt of Tenant’s notice material default of its desire to exercise the Renewal Option, given obligations under this Lease at the time and in of giving notice below, the manner provided above, Landlord Tenant shall prepare and transmit have the option to Tenant an appropriate amendment to renew this Lease extending for a further term of TWO (2) years from the expiration of the Term for five by giving the Landlord notice in writing of its intention to exercise such option (5) years (each a “Renewal Term”; the first such five (5) year period being herein hereinafter referred to as the “First Renewal Term” Notice”) not less than six (6) months before the expiration of the Term and if the Tenant shall not have exercised its option to renew as provided in this Special Condition l(a), this Lease shall forthwith be terminated at the expiration of the original term of THREE (3) years and the second such five Tenant shall yield up and deliver vacant possession of the Premises to the Landlord and the Tenant shall not be required to reinstate the Premises to its original condition. (5b) year period being herein The new lease to be granted pursuant to sub-paragraph (a) above (hereinafter referred to as the “Second Renewal TermNew Lease”) shall be on the same terms and specifying conditions as are contained in this Lease save and except that:- (i) the Base Rent this option for such extension, which renewal shall be the base rental rate for tenants of comparable size and location renewing leases in first-class office buildings located in downtown Chicago, including, but not limited to, the Building taking into account any tenant improvement allowances, commissions, abatements and other concessions granted as reasonably determined by Landlord and evidenced by recent transactions which shall be disclosed to Tenant (“Market Rent”) and excluded; and (ii) that all other terms and conditions during the Renewal Term are the same as those during the Term, except for any tenant improvement allowances, abatements, other concessions, rights of first offer, expansion rights, termination rights, reduction rights; and renewal rights (other than for Tenant’s right to exercise the Renewal Option new rent for the Second Renewal Term if Tenant has exercised the Renewal Option for the First Renewal Term) unless reflected in the Market Rent. If Tenant disagrees with Landlord’s estimation of the Market Rent, it must so notify Landlord in writing within twenty New Lease (20) days after Tenant’s receipt of Landlord’s proposed Market Rent and Tenant shall specify Tenant’s estimation of the Market Rent in such notice. If the parties are unable to agree on the Market Rent for the Renewal Term within ten (10) days following Landlord’s receipt of Tenant’s estimation of the Market Rent (such ten (10) day period being herein hereinafter referred to as the “Negotiation PeriodNew Rent”), Tenant shall, within five (5) days following shall be the expiration open market rent for the Premises as at the date of expiry of the Negotiation Period, elect in writing to Term. (xc) promptly enter into binding arbitration in accordance with Within two months after the provisions of Section 9 of this Eighth Amendment or (y) revoke its right to exercise the Renewal Option, in which case Tenant shall have no further rights under this Section 8 (and Tenant’s exercise service of the Renewal Option and any subsequent Renewal Option Notice, either the Landlord or the Tenant may serve a notice upon the other calling for an independent professional valuer or a firm of professional valuers whose qualification must be a corporate member of the Royal Institution of Chartered Surveyors or the Hong Kong Institute of Surveyors in the class of Fellow or Professional Associate of General Practice Division (hereinafter referred to as “Surveyor”) who shall be of no force or effectjointly appointed by the Landlord and the Tenant to determine the New Rent. The Surveyor’s decision shall be conclusive and binding on the parties hereto, (d) In determining the New Rent the following provisions shall apply:- (i) the Surveyor shall act as an expert and Landlord may lease not as an arbitrator and shall take into account the 49th Floor Premises open market rent for similar premises in the area having attributes comparable to a third party free those of the provisions Premises obtainable at the time of this Section 8. In the event Tenant fails to timely make such election, Tenant shall be deemed to have elected to enter into binding arbitration in accordance with the provisions of Section 9 of this Eighth Amendment. Once Tenant elects, or is deemed to have elected, to enter into binding arbitration in accordance with the provisions of Section 9 hereof, it may not revoke its exercise commencement of the Renewal Option. Tenant shall execute and deliver renewed term on the lease amendment extending the Term (x) within fifteen (15) days of the determination of the Market Rent, if the Market Rent is determined by arbitration in accordance with Section 9 below or (y) within fifteen (15) days of the determination of Market Rent, if the parties are able to reach agreement between themselves prior to arbitration. If Tenant shall be in Default hereunder following assumptions that at the commencement date of any Renewal Term, then, at Landlord’s option, Tenant’s purported exercise of its Renewal Option and any subsequent Renewal Option shall be of no force or effect and the Renewal Option shall become null and void. The Renewal Options are personal to the Tenant first named in the Lease and may not be exercised by any assignee (other than a Permitted Assignee), subtenant or transferee.that date:-

Tenant’s Option to Renew. All options to renew the Amended Lease are hereby deleted in their entirety. The following renewal right is added to the Lease reading as follows: The Tenant is hereby granted two one (21) five three (53) year options option to renew the Lease (“"Renewal Option”"). If the Tenant desires to exercise the Renewal Option, it shall so notify the Landlord, in writing, not later than twelve the first day of the ninth (129) months month prior to the then current expiration date of the Term. Such notice shall only be effective if delivered at a time when the Tenant is not in Default hereunderhereunder or otherwise in default in the performance of any of its obligations under the terms and provisions of this Lease. Within thirty (30) days following its receipt of Tenant’s 's notice of its desire to exercise the Renewal Option, given at the time and in the manner provided above, Landlord shall prepare and transmit to Tenant an appropriate amendment to this Lease extending the Term for five three (53) years (each a “Renewal "Extended Term”; the first such five (5) year period being herein referred to as the “First Renewal Term” and the second such five (5) year period being herein referred to as the “Second Renewal Term”") and specifying (i) the Base Rent for such extension, which shall be the base rental rate for then being offered and accepted by Landlord to other tenants of comparable size and location renewing leases in first-class office buildings located in downtown Chicagothe Building, including, but not limited to, the Building taking into account any including concessions for rent abatement and tenant improvement allowances, commissions, abatements and other concessions granted all as reasonably determined by Landlord and evidenced by recent transactions which shall be disclosed to Tenant (“"Market Rent”") and (ii) that all other terms and conditions during the Renewal Extended Term are the same as those during the Term, except for any tenant improvement allowances, abatements, other concessions, rights of first offer, expansion rights, termination rights, reduction rights; rights or limitations on taxes and renewal rights (other than for Tenant’s right to exercise the Renewal Option for the Second Renewal Term if Tenant has exercised the Renewal Option for the First Renewal Term) unless reflected in the Market Rent. If Tenant disagrees with Landlord’s estimation of the Market Rent, it must so notify Landlord in writing within twenty (20) days after Tenant’s receipt of Landlord’s proposed Market Rent and Tenant shall specify Tenant’s estimation of the Market Rent in such notice. If the parties are unable to agree on the Market Rent for the Renewal Term within ten (10) days following Landlord’s receipt of Tenant’s estimation of the Market Rent (such ten (10) day period being herein referred to as the “Negotiation Period”), Tenant shall, within five (5) days following the expiration of the Negotiation Period, elect in writing to (x) promptly enter into binding arbitration in accordance with the provisions of Section 9 of this Eighth Amendment or (y) revoke its right to exercise the Renewal Option, in which case Tenant shall have no further rights under this Section 8 (and Tenant’s exercise of the Renewal Option and any subsequent Renewal Option shall be of no force or effect) and Landlord may lease the 49th Floor Premises to a third party free of the provisions of this Section 8operating expenses. In the event Tenant fails to timely make such election, the Tenant shall be deemed fail for any reason to have elected to enter into binding arbitration in accordance with the provisions of Section 9 of this Eighth Amendment. Once Tenant elects, or is deemed to have elected, to enter into binding arbitration in accordance with the provisions of Section 9 hereof, it may not revoke its exercise of the Renewal Option. Tenant shall execute and deliver the lease amendment extending the Term within twenty (x20) within fifteen (15) business days of the determination Tenant's receipt of the Market Rentsame, or if the Market Rent is determined by arbitration in accordance with Section 9 below or (y) within fifteen (15) days of the determination of Market Rent, if the parties are able to reach agreement between themselves prior to arbitration. If Tenant shall be in Default hereunder or otherwise in default in the performance of any of its obligations under the terms and provisions of this Lease at the commencement date of any Renewal Extended Term, thenthen in either such event, at Landlord’s 's option, Tenant’s 's purported exercise of its Renewal Option and any subsequent Renewal Option shall be of no force or effect and the Renewal Option shall become null and void. The Renewal Options are personal to the Tenant first named in the Lease and may not be exercised by any assignee (other than a Permitted Assignee), subtenant or transferee.

Tenant’s Option to Renew. All options to renew the Amended (A) Provided that this Lease are hereby deleted is then in their entirety. The following renewal right is added to the Lease reading as follows: The full force and effect and Tenant is hereby granted not in default, on the date of exercise of this Option, hereunder after notice and the expiration of any applicable grace period, Tenant shall have the option to extend the Term for two (2) additional periods of five (5) year options to renew years each (the Lease (“Renewal Option”"Extension Term(s)"). If The Extension Term(s) shall commence on the day after the initial Lease term and the prior Extension Term (if any) expires ("Expiration Date(s)") and shall expire on the fifth (5th) anniversary of the Expiration Date(s) unless the Extension Term(s) shall sooner end pursuant to this Lease. (B) The terms and conditions shall be identical to those in the primary lease except for the rental rate, which shall be the market rental rate determined by Landlord and Tenant desires to exercise based on the Renewal Option, it rental rate allowances and concessions for comparable buildings in the same immediate geographic area. Landlord shall so notify the Landlord, in writing, provide Tenant a proposed rental rate at least nine (9) months but not later more than twelve (12) months prior to the then current expiration date termination of the TermLease term. Such notice shall only be effective if delivered at a time when Tenant will accept/reject such offer no less than six (6) months prior to the Tenant is not in Default hereundertermination of the Lease. Within thirty (30) days following its receipt of Tenant’s notice of its desire to exercise the Renewal Option, given at the time and in the manner provided above, Landlord shall prepare and transmit to Tenant an appropriate amendment to this Lease extending the Term for five (5) years (each a “Renewal Term”; the first such five (5) year period being herein referred to as the “First Renewal Term” and the second such five (5) year period being herein referred to as the “Second Renewal Term”) and specifying (i) the Base Rent for such extension, which shall be the base rental rate for tenants of comparable size and location renewing leases in first-class office buildings located in downtown Chicago, including, but not limited to, the Building taking into account any tenant improvement allowances, commissions, abatements and other concessions granted as reasonably determined by If Landlord and evidenced by recent transactions which shall be disclosed to Tenant (“Market Rent”) and (ii) that all other terms and conditions during the Renewal Term are the same as those during the Term, except for any tenant improvement allowances, abatements, other concessions, rights of first offer, expansion rights, termination rights, reduction rights; and renewal rights (other than for Tenant’s right to exercise the Renewal Option for the Second Renewal Term if Tenant has exercised the Renewal Option for the First Renewal Term) unless reflected in the Market Rent. If Tenant disagrees with Landlord’s estimation of the Market Rent, it must so notify Landlord in writing within twenty (20) days after Tenant’s receipt of Landlord’s proposed Market Rent and Tenant shall specify Tenant’s estimation of the Market Rent in such notice. If the parties are unable to agree on the Market Rent for the Renewal Term within a market rental rate, allowances and concessions, each shall hire a licensed commercial real estate broker with at least ten (10) days following Landlord’s receipt years of Tenant’s estimation of experience in the Market Rent (such ten (10) day period being herein referred to as the “Negotiation Period”), Tenant shall, within five (5) days following the expiration of the Negotiation Period, elect in writing to (x) promptly enter into binding arbitration in accordance local commercial real estate market and those brokers will hire a third licensed commercial real estate broker with the provisions of Section 9 of this Eighth Amendment or same experience in the local commercial real estate market to all determine a market rate, allowances and concessions. The average rate, allowances and concessions determined by these three (y3) revoke its right to exercise brokers will be considered the Renewal Option, in which case Tenant shall have no further rights under this Section 8 (market rental rate and Tenant’s exercise of improvement allowance for the Renewal Option and any subsequent Renewal Option shall be of no force or effect) and Landlord may lease the 49th Floor Premises to a third party free of the provisions of this Section 8. In the event Tenant fails to timely make such election, Tenant shall be deemed to have elected to enter into binding arbitration in accordance with the provisions of Section 9 of this Eighth Amendment. Once Tenant elects, or is deemed to have elected, to enter into binding arbitration in accordance with the provisions of Section 9 hereof, it may not revoke its exercise purposes of the Renewal Option. . (C) Promptly after the rent has been determined, Landlord and Tenant shall execute execute, acknowledge and deliver an agreement setting forth the lease amendment extending rent for the Term (x) within fifteen (15) days Extension Term(s). as finally determined, provided that the failure of the determination parties to do so shall not affect their respective rights and obligations under the Lease. Nowithstanding any provisions in Sections 1-26 of the Market RentLease, if the Market Rent is determined by arbitration in accordance with Section 9 below or (y) within fifteen (15) days of the determination of Market Rent, if the parties are able to reach agreement between themselves prior to arbitration. If Landlord and Tenant shall be in Default hereunder at the commencement date of any Renewal Term, then, at Landlord’s option, Tenant’s purported exercise of its Renewal Option and any subsequent Renewal Option shall be of no force or effect and the Renewal Option shall become null and void. The Renewal Options are personal to the Tenant first named in the Lease and may not be exercised by any assignee (other than a Permitted Assignee), subtenant or transferee.hereby agree as follows:

Tenant’s Option to Renew. All options to renew the Amended (A) Provided that this Lease are hereby deleted is then in their entirety. The following renewal right is added to the Lease reading as follows: The full force and effect and Tenant is hereby granted not in default, on the date of exercise of this Option, hereunder after notice and the expiration of any applicable grace period, Tenant shall have the option to extend the Term for two (2) additional periods of five (5) year options to renew years each (the Lease (“Renewal OptionExtension Term(s)”). If The Extension Term(s) shall commence on the day after the initial Lease term and the prior Extension Term (if any) expires (“Expiration Date(s)”) and shall expire on the fifth (5th) anniversary of the Expiration Date(s) unless the Extension Term(s) shall sooner end pursuant to this Lease. (B) The terms and conditions shall be identical to those in the primary lease except for the rental rate, which shall be the market rental rate determined by Landlord and Tenant desires to exercise based on the Renewal Option, it rental rate allowances and concessions for comparable buildings in the same immediate geographic area. Landlord shall so notify the Landlord, in writing, provide Tenant a proposed rental rate at least nine (9) months but not later more than twelve (12) months prior to the then current expiration date termination of the TermLease term. Such notice shall only be effective if delivered at a time when Tenant will accept/reject such offer no less than six (6) months prior to the Tenant is not in Default hereundertermination of the Lease. Within thirty (30) days following its receipt of Tenant’s notice of its desire to exercise the Renewal Option, given at the time and in the manner provided above, Landlord shall prepare and transmit to Tenant an appropriate amendment to this Lease extending the Term for five (5) years (each a “Renewal Term”; the first such five (5) year period being herein referred to as the “First Renewal Term” and the second such five (5) year period being herein referred to as the “Second Renewal Term”) and specifying (i) the Base Rent for such extension, which shall be the base rental rate for tenants of comparable size and location renewing leases in first-class office buildings located in downtown Chicago, including, but not limited to, the Building taking into account any tenant improvement allowances, commissions, abatements and other concessions granted as reasonably determined by If Landlord and evidenced by recent transactions which shall be disclosed to Tenant (“Market Rent”) and (ii) that all other terms and conditions during the Renewal Term are the same as those during the Term, except for any tenant improvement allowances, abatements, other concessions, rights of first offer, expansion rights, termination rights, reduction rights; and renewal rights (other than for Tenant’s right to exercise the Renewal Option for the Second Renewal Term if Tenant has exercised the Renewal Option for the First Renewal Term) unless reflected in the Market Rent. If Tenant disagrees with Landlord’s estimation of the Market Rent, it must so notify Landlord in writing within twenty (20) days after Tenant’s receipt of Landlord’s proposed Market Rent and Tenant shall specify Tenant’s estimation of the Market Rent in such notice. If the parties are unable to agree on the Market Rent for the Renewal Term within a market rental rate, allowances and concessions, each shall hire a licensed commercial real estate broker with at least ten (10) days following Landlord’s receipt years of Tenant’s estimation of experience in the Market Rent (such ten (10) day period being herein referred to as the “Negotiation Period”), Tenant shall, within five (5) days following the expiration of the Negotiation Period, elect in writing to (x) promptly enter into binding arbitration in accordance local commercial real estate market and those brokers will hire a third licensed commercial real estate broker with the provisions of Section 9 of this Eighth Amendment or same experience in the local commercial real estate market to all determine a market rate, allowances and concessions. The average rate, allowances and concessions determined by these three (y3) revoke its right to exercise brokers will be considered the Renewal Option, in which case Tenant shall have no further rights under this Section 8 (market rental rate and Tenant’s exercise of improvement allowance for the Renewal Option and any subsequent Renewal Option shall be of no force or effect) and Landlord may lease the 49th Floor Premises to a third party free of the provisions of this Section 8. In the event Tenant fails to timely make such election, Tenant shall be deemed to have elected to enter into binding arbitration in accordance with the provisions of Section 9 of this Eighth Amendment. Once Tenant elects, or is deemed to have elected, to enter into binding arbitration in accordance with the provisions of Section 9 hereof, it may not revoke its exercise purposes of the Renewal Option. . (C) Promptly after the rent has been determined, Landlord and Tenant shall execute execute, acknowledge and deliver an agreement setting forth the lease amendment extending rent for the Term (x) within fifteen (15) days Extension Term(s), as finally determined, provided that the failure of the determination parties to do so shall not affect their respective rights and obligations under the Lease. Notwithstanding any provisions in Sections 1-26 of the Market RentLease, if the Market Rent is determined by arbitration in accordance with Section 9 below or (y) within fifteen (15) days of the determination of Market Rent, if the parties are able to reach agreement between themselves prior to arbitration. If Landlord and Tenant shall be in Default hereunder at the commencement date of any Renewal Term, then, at Landlord’s option, Tenant’s purported exercise of its Renewal Option and any subsequent Renewal Option shall be of no force or effect and the Renewal Option shall become null and void. The Renewal Options are personal to the Tenant first named in the Lease and may not be exercised by any assignee (other than a Permitted Assignee), subtenant or transferee.hereby agree as follows: