Determination of Market Rent. When the terms of this Lease provide that Market Rent shall be determined by reference to this [Section 33.3], the following procedures shall apply:

Determination of Market Rent. In the event Tenant timely and appropriately exercises its Option to Extend but rejects the Option Rent set forth in the Landlord's Option Rent Calculation pursuant to [Section 2.2.3], above, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement upon the Option Rent applicable to the Option Term on or before the date that is ninety (90) days prior to the expiration of the initial Lease Term or Option Term, as relevant (the "Outside Agreement Date"), then the Option Rent shall be determined by arbitration pursuant to the terms of this [Section 2.2.4]. Each party shall make a separate determination of the Option Rent, within five (5) business days following the Outside Agreement Date (the "Option Rent Submittals"), and such Option Rent Submittals shall be submitted to arbitration in accordance with [Section 2.2.4.1] through [Section 2.2.4.3], below.

Determination of Market Rent. In the event Tenant timely and appropriately exercises its option to extend the Lease but rejects the Option Rent set forth in the Landlord's Option Rent Calculation pursuant to [Section 2.2.3], above, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. The "Base Year," as that term is defined in Section 4.2.1, below, for the Option Term shall mean calendar year 2030. If Landlord and Tenant fail to reach agreement upon the Option Rent applicable to the Option Term on or before the date that is one hundred twenty (120) days prior to the expiration of the initial Lease Term (the "Outside Agreement Date"), then the Option Rent shall be determined by arbitration pursuant to the terms of this [Section 2.2.4]. Each party shall make a separate determination of the Market Rent, within ten (10) business days following the Outside Agreement Date. If the higher of such estimates is not more than one hundred five percent (105%) of the lower, then the Market Rent shall be the average of the two. If the higher of such estimates is more than one hundred five percent (105%) of the lower, then such determinations shall be submitted to arbitration in accordance with [Section 2.2.4.1] through [Section 2.2.4.4], below.

Determination of Market Rent. In the event Tenant objects or is deemed to have objected to the Market Rent, Landlord and Tenant shall attempt to agree upon the Market Rent using reasonable good-faith efforts. If Landlord and Tenant fail to reach agreement within thirty (30) days following Tenant's objection or deemed objection to the Landlord's Option Rent Calculation (the "Outside Agreement Date"), then, within two (2) business days following such Outside Agreement Date, # Landlord may reestablish the Landlord's Option Rent Calculation by delivering written notice thereof to Tenant, and # Tenant may reestablish the Tenant's Option Rent Calculation by delivering written notice thereof to Landlord. If Landlord and Tenant thereafter fail to reach agreement within seven (7) business days of the Outside Agreement Date, then in connection with the Option Rent, Landlord's Option Rent Calculation and Tenant's Option Rent Calculation, each as most recently delivered to the other party pursuant to the TCCs of this Section 2.2, shall be submitted to the "Neutral Arbitrator," as that term is defined in [Section 2.2.4.1] of this Lease, pursuant to the TCCs of this [Section 2.2.4]. The submittals shall be made concurrently with the selection of the Neutral Arbitrator pursuant to this [Section 2.2.4] and shall be submitted to arbitration in accordance with [Section 2.2.4.1 through 2.2.4.5] of this Lease, but subject to the conditions, when appropriate, of [Section 2.2.3].

Determination of Market Rent. In the event Tenant timely and appropriately exercises its option to extend the Lease but rejects the Option Rent set forth in the Landlord's Option Rent Calculation pursuant to [Section 2.2.3], above, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement upon the Option Rent applicable to the Option Term on or before the date that is ninety (90) days prior to the expiration of the initial Lease Term (the "Outside Agreement Date"), then either or both of Landlord and Tenant may update their respective determination of the Option Rent within five (5) business days following the Outside Agreement Date; provided, however, in no event shall either party so update their determination of the Option Rent in manner more beneficial to themselves than their original determination (i.e., in the case of the Landlord, such updated determination shall not indicate an Option Rent in excess of Landlord's Option Rent Calculation and in the case of Tenant, such updated determination shall not indicate an Option Rent less than Tenant's Option Rent Calculation). If either party timely provides the other with an updated determination of Option Rent in accordance with the preceding sentence, then the parties shall again attempt to reach agreement within fifteen (15) business days following the Outside Agreement Date. If neither party timely provides an updated determination of Option Rent, or if they have failed to reach agreement upon the Option Rent on or before the date which is fifteen (15) business days following the Outside Agreement Date, the Option Rent shall be determined by arbitration pursuant to the terms of this [Section 2.2.4]. In such event, each party's most recently updated determinations of Option Rent shall be submitted to arbitration in accordance with [Section 2.2.4.1] through [Section 2.2.4.4], below.

Determination of Rent. Lessor shall have plenary authority to administer this Agreement and make determinations of Rent (subject to the FAA Maximum amount) and shall bear the cost of

Determination of Market Rate. Tenant shall send Landlord a preliminary expression of Tenant’s willingness to renew this Lease no earlier than January 31, 2030, or later than April 30, 2030 (the “Renewal Notice”), together with financial statements meeting the requirements of Section 24.20. In the event Tenant timely provides Landlord with Tenant's Renewal Notice, Landlord shall notify Tenant (“Landlord's Response”), on or before July 31, 2030, of the Renewal Rent to be payable by Tenant during the Renewal Term. Tenant and Landlord shall negotiate in good faith to determine and mutually agree upon the Market Rate for the Renewal Term. If Landlord and Tenant are unable to agree upon the Market Rate for the Renewal Term, on or before August 31, 2030 (the “Negotiation Period”), as evidenced by an amendment to the Lease executed by both Landlord and Tenant and amending the Lease to provide for the extension of the Term for the Renewal Term, the Renewal Rent, any other terms set forth in Landlord’s Response to improve the Premises or provide any improvement allowance as contemplated in [Section 25.1(b)] and any other any other terms mutually agreed to by Landlord and Tenant, if applicable, then within 10 days after the last day of the Negotiation Period, Tenant may, by written notice to Landlord (the “Notice of Exercise”), irrevocably elect to exercise such Renewal Option. In order for Tenant to exercise such Renewal Option, Tenant shall send the Notice of Exercise to Landlord stating # that Tenant is irrevocably exercising its right to extend the Term pursuant to Article XXV; and # Landlord and Tenant shall be irrevocably bound by the determination of Market Rate set forth hereinafter in this Section 25.2, and if applicable, Section 25.4. If Tenant shall fail to deliver the Notice of Exercise on or before 10 days after the last day of the Negotiation Period, then Tenant shall have waived any right to exercise the Renewal Option. In the event any date referenced in this Section 25.2 falls on a day other than a business day, such date shall be deemed to be the next following business day.

Fair Market Rent. If the option is exercised in a timely fashion, the Lease shall be extended for the term of the Initial Extension Period upon all of the terms and conditions of this Lease, provided that the Base Monthly Rent for the Initial Extension Period shall be 95% of the Fair Market Rent for the Leased Premises, increased as set forth below. For purposes hereof, “Fair Market Rent” shall be the initial Base Monthly Rent for the Initial Extension Period and any escalations thereto, as determined with reference to the then-prevailing rates for recently negotiated office leases in similar Class A office buildings in the City of Palo Alto, pursuant to the process described below. The then fair market value of any modifications, alterations or improvements made by Tenant to the Leased Premises at Tenant’s expense and which are generally usable for other occupants shall not be taken into consideration in determining Fair Market Rent.

Fair Market Rent. (a) Fair Market Rent shall mean the annual fair market rental value of the Demised Premises based upon comparable buildings in the same area of generally comparable quality, location, services and amenities and quality of construction as the Demised Premises, as of the commencement of the applicable renewal term with a lease term equal to the applicable renewal term and otherwise containing comparable provisions as this Lease taking into consideration all relevant factors, including, without limitation, the then current and projected rents for comparable premises within a five (5) mile radius of the Demised Premises or those rented during the prior twelve (12) months or projected to be for rent during the first year of the applicable renewal term, # adjusted for any special conditions applicable to leases, and # taking into consideration the location, length of term, amount of space, rent concessions and other relevant factors in computing rent, including adjustments for anticipated

Fair Market Rent. The term “Fair Market Rent” for purposes of determining Minimum Monthly Rent during the Extension Period shall mean the base monthly rent per rentable square foot of space generally applicable to renewals or extensions of full service office leases at comparable class buildings of comparable size, age, quality of the Premises in the Class “A” office buildings in the financial district of San Francisco, California (“Comparable Buildings”) projected as of the first day of the Extension Period, with annual increases, by giving due consideration for the quality of the Building and improvements therein (including the quality of the then existing improvements in the Leased Premises), for a term comparable to the Extension Period at the time the commencement of the Extension Period is scheduled to commence, and for comparable space that is not subleased or subject to another party’s expansion rights or not leased to a tenant that holds an ownership interest in the landlord, and otherwise subject to the terms and conditions of this Lease that will be applicable during the Extension Period. The Fair Market Rent Rate takes into consideration the following concessions (the "Concessions") being granted for lease extensions or renewals in Comparable Buildings: # rental abatement concessions, if any, being granted such tenants in connection with such comparable space; # tenant improvements or allowances provided or to be provided for such comparable space, and taking into account the value, if any, of the existing improvements in the subject space, such value to be based upon the age, condition, design, quality of finishes and layout of the improvements; and # other reasonable monetary concessions being granted such tenants in connection with such comparable space; provided, however, that in calculating the Fair Market Rent, no consideration shall be given # to the fact that Landlord is or is not required to pay a real estate brokerage commission in connection with Tenant's exercise of its option to extend the Term, or the fact that landlords are or are not paying real estate brokerage commissions in connection with such comparable space, and # any period of rental abatement, if any, granted to tenants in such comparable transactions in connection with the design, permitting and construction of tenant improvements in such comparable spaces.