Common use of OPTION TO EXTEND LEASE Clause in Contracts

OPTION TO EXTEND LEASE. Lessee shall have the option (“Option”) to extend the term of this Lease on all provisions contained in this Lease, except the Base Rent, for a period of three (3) years (the “Extended Term”) following the expiration of the initial term of this Lease, by giving written notice of the exercise of the Option (“Option Notice”) to Lessor at least six (6) months, but not more than twelve (12) months prior to the expiration of the initial term of this Lease (“Option Notice Period”). Once Lessee delivers the Option Notice, Lessee cannot revoke it and any attempt to revoke the exercise shall be void. Any Option Notice given at any time other than the Option Notice Period shall be void and of no effect. Notwithstanding the above, (i) if lessee is in Default of the Lease on the date of giving the Option Notice, has been late in making payments of any amounts owed pursuant to this Lease more than two (2) times, then Lessor may deem the Option Notice void and of no effect, and (ii) if Lessee is in Default of the Lease on the date the Extended Term is to begin, then Lessor may deem the Option void and terminate the Lease as of the end of the Original Term. Lessee may only exercise the Option on all but not less than all of the Premises. Any Option Notice that purports to exercise the Option for less than all of the Premises, shall be deemed to exercise the Option for all of the Premises. If Lessee has not been in possession of all of the Premises (no part of the Premises has been vacated or sublet) for all of 2013, then notwithstanding any other provision of this Lease, Lessor may, in Lessor’s sole and absolute discretion, terminate the Lease as of the end of the Original Term. The Parties shall have thirty (30) days after Lessor receives the Option Notice during which to attempt to agree on the monthly rent during the extended term. If the parties agree on the monthly rent for the Extended Term, they shall immediately execute an amendment to this Lease which shall state the monthly rent for the Extended Term and the fact that the Extended Term shall end on April 30, 2017.

OPTION TO EXTEND LEASE. Lessee Tenant shall have the right and option (“the "Option”") to extend the term of this Lease on for all provisions contained in this Lease(but not part) of the Premises, except the Base Rentas hereinafter provided, for a period two (2) periods of three five (35) years each (hereinafter referred to as "Renewal Term One" and "Renewal Term Two") provided that (i) there is not then an Event of Default at the “Extended Term”) following the expiration time of the initial term of this Lease, by giving written notice of the exercise of the Option nor at the commencement of either of the Renewal Terms; or (“ii) that Tenant has not received written notice from Landlord of a default in rent payments more than five (5) times during the last two (2) years of the lease term or renewal period. Tenant's right to extend for any Renewal Term shall lapse without further act or deed if Tenant has not exercised its option to extend for all available preceding Renewal Terms. The Option Notice”) shall be exercised by Tenant giving written notice to Lessor at least six (6) months, but Landlord of Tenant's intention to exercise said Option on or before that date which is not more than twelve (12) months nor less than nine (9) months prior to the then applicable expiration date for the Term. Unless Landlord has received such written notice of Tenant's intention to exercise said Option within the time period specified herein, then Landlord shall have no further obligation to offer the Premises to the Tenant. If Tenant has not exercised its Option to extend the Terms as outlined herein, Landlord shall be entitled to show the Premises at least nine (9) months prior to the expiration of each Term and offer the initial term of this Lease (“Premises for lease to any other prospective tenants. Landlord will give Tenant at least 24 hours notice prior to such showings to prospective tenants. The Option Notice Period”)contained herein is personal to Tenant and shall not be assigned or sublet to another party, except as to such party that purchases Tenant or Tenant's assets. Once Lessee delivers the Option NoticeRental rates will be at then Fair Market Rate, Lessee cannot revoke it and any attempt to revoke the exercise shall be void. Any Option Notice given at any time other but, in no case, less than the Option Notice Period shall be void and of no effect. Notwithstanding the above, (i) if lessee is current Base Rent then in Default of the Lease on the date of giving the Option Notice, has been late in making payments of any amounts owed pursuant to this Lease more than two (2) times, then Lessor may deem the Option Notice void and of no effect, and (ii) if Lessee is in Default of the Lease on the date the Extended Term is to begin, then Lessor may deem the Option void and terminate the Lease as of the end of the Original Term. Lessee may only exercise the Option on all but not less than all of effect for the Premises. Any Option Notice that purports to exercise the Option for less than all of the Premises, The Fair Market Rent shall be deemed to exercise established by agreement between Landlord and Tenant in accordance with the Option for all of the Premises. If Lessee has not been in possession of all of the Premises (no part of the Premises has been vacated or sublet) for all of 2013FAIR MARKET RENT DEFINITION section or, then notwithstanding any other provision of this Lease, Lessor mayfailing agreement, in Lessor’s sole and absolute discretion, terminate accordance with the Lease as of the end of the Original Term. The Parties shall have thirty (30) days after Lessor receives the Option Notice during which to attempt to agree on the monthly rent during the extended term. If the parties agree on the monthly rent for the Extended Term, they shall immediately execute an amendment to this Lease which shall state the monthly rent for the Extended Term and the fact that the Extended Term shall end on April 30, 2017ARBITRATION PROCEDURES section.

OPTION TO EXTEND LEASE. In the event that Lessee shall not be in default in the performance of any term or condition of this Lease, then upon the expiration of the Lease term, Lessee shall have the option (“Option”) to extend the Lease for an additional term of five (5) years. Lessee's rights to exercise the option are contingent upon Lessee not being in default in the performance of any term or condition of this Lease or if in default, Lessee shall have cured the same prior to the deadline for exercising the extension option. During the extension period, all the terms and conditions of this Lease shall remain in effect except that the base rental for the extension period will be determined as set forth in paragraph 43, entitled "Rent Determination for Extended Period," and the rental commencing on all provisions contained in this Lease, except the Base Rent, for a period of three thirty-first (331st) years (the “Extended Term”) following the expiration month of the initial term of this Leaseextended period will be adjusted as provided in paragraph 44, entitled "Rental Escalations." The option must be exercised by giving written notice of the exercise of the Option (“Option Notice”) Lessee, if at all, prior to Lessor at least a date which shall be six (6) months, but not more than twelve (12) months prior to the expiration of the initial Lease term, by notice to Lessor stating that Lessee is exercising its option to extend. Such exercise of the option shall automatically extend the term of this Lease (“Option Notice Period”). Once Lessee delivers the Option Notice, Lessee cannot revoke it and any attempt to revoke the exercise shall be void. Any Option Notice given at any time other than the Option Notice Period shall be void and of no effect. Notwithstanding the above, (i) if lessee is in Default of the Lease on upon the date terms and conditions herein set forth, and no further writing need be executed by Lessee or Lessor, except that no term extension shall occur or take effect if, prior to its commencement, Lessee shall have assigned or sublet (by operation of giving the Option Notice, has been late in making payments of any amounts owed pursuant to law or otherwise and with or without Lessor's consent) this Lease more than two (2) times, then Lessor may deem the Option Notice void and of no effect, and (ii) if Lessee is in Default of the Lease on the date the Extended Term is to begin, then Lessor may deem the Option void and terminate the Lease as of the end of the Original Term. Lessee may only exercise the Option on all but not less than all of or the Premises. Any Option Notice that purports Once exercised, Lessee shall not have the right to revoke its election to exercise the Option option. In the event that the option is not exercised as provided for less than all of herein within the Premisestime provided for, the option shall be deemed to exercise the Option for all of the Premises. If expire, and Lessee has not been in possession of all of the Premises (no part of the Premises has been vacated or sublet) for all of 2013, then notwithstanding any other provision of this Lease, Lessor may, in Lessor’s sole and absolute discretion, terminate the Lease as of the end of the Original Term. The Parties shall have thirty (30) days after Lessor receives no further right to renew or extend the Option Notice during which to attempt to agree on the monthly rent during the extended term. If the parties agree on the monthly rent for the Extended Term, they shall immediately execute an amendment to this Lease which shall state the monthly rent for the Extended Term and the fact that the Extended Term shall end on April 30, 2017Lease.

OPTION TO EXTEND LEASE. Lessee Tenant, (i) so long as there then exists no Event of Default either at the time of exercise or at the first day of the applicable Extension Term (as hereinafter defined), and (ii) this Lease is in full force and effect and (iii) the Tenant named herein has not assigned this Lease and is in occupancy of the entire Leased Premises, shall have the right and option (“Option”) to extend the term of this Lease on all provisions contained in this Lease, except the Base Rent, initial Term hereof for a one (1) additional five (5) year period of three (3) years (the “Extended Extension Terms”: each an “Extension Term”) following the expiration of the initial term of this Lease, by giving upon written notice of the exercise of the Option to Landlord given not less than nine (“Option Notice”9) to Lessor at least six (6) months, but months and not more than twelve (12) months prior to the expiration of the initial Term, as such Term may be extended, time being of the essence. The parties agree that if Tenant fails to exercise its option to extend the initial term of strictly within the tune periods set forth in this Section, then Tenant’s right to extend the initial Term shall automatically lapse and Tenant shall have no right to extend the Term. In the event that Tenant shall exercise the options granted hereunder, the applicable Extension Term shall be upon the same terms and conditions as are in effect under this Lease immediately preceding the commencement of such option period except that the Annual Base Rent due from the Tenant shall be increased as provided hereinbelow and Tenant shall have no further rights or options whatsoever to extend the term beyond the expiration of such Extension Term. The initial and any Extension Term are hereinafter sometimes collectively referred to as the “term” or “Term.” If Tenant exercises the right to extend the Term as herein provided, then no later than thirty (30) days following receipt of Tenant’s notice, Landlord shall notify Tenant in writing of Landlord’s determination of the fair market rent (which shall in no event be less than the Base Rent for the last year of the current Term of the Lease) for the Leased Premises for the Extension Term (“Option Notice PeriodLandlord’s Rental Notice”). Once Lessee delivers the Option Notice, Lessee canIf Tenant does not revoke it and any attempt object to revoke the exercise shall be void. Any Option Notice given at any time other than the Option Notice Period shall be void and Xxxxxxxx’s determination of no effect. Notwithstanding the above, such fair market rent by written notice to Landlord within ten (i10) if lessee is in Default of the Lease on days after the date of giving the Option Landlord’s Rental Notice, has been late in making payments of any amounts owed pursuant to this Lease more than two (2) times, then Lessor may deem the Option Notice void and of no effect, and (ii) if Lessee is in Default of the Lease on the date the Extended Term is to begin, then Lessor may deem the Option void and terminate the Lease as of the end of the Original Term. Lessee may only exercise the Option on all but not less than all of the Premises. Any Option Notice that purports to exercise the Option for less than all of the Premises, Tenant shall be deemed to exercise have accepted the Option for all of the Premisesmarket rent set forth in Landlord’s Rental Notice. If Lessee has Tenant does timely object to Landlord’s Rental Notice, the parties shall use commercially reasonable efforts to agree upon the fair market rent for the Extension Term, however, if the parties cannot been in possession of all of agree upon the Premises (no part of the Premises has been vacated or sublet) for all of 2013, then notwithstanding any other provision of this Lease, Lessor may, in Lessor’s sole and absolute discretion, terminate the Lease as of the end of the Original Term. The Parties shall have fair market rent within thirty (30) days after Lessor Landlord receives Tenant’s notice of objection, then the Option Notice during which to attempt to agree on the monthly rent during the Lease shall not be extended term. If the parties agree on the monthly rent for the Extended Term, they and Tenant’s rights under this Section 37 shall immediately execute an amendment to this Lease which shall state the monthly rent for the Extended Term terminate and the fact that the Extended Term shall end on April 30, 2017be of no further force or effect.

OPTION TO EXTEND LEASE. Lessee Provided the Lease is in full force and effect and Tenant is not then in material default beyond any applicable notice, grace or cure period, Tenant shall have the option (“Option”) right to elect to extend the term of this Lease on all provisions contained in this LeaseInitial Term for up to four (4) consecutive, except the Base Rentadditional five (5) year terms (each, for a period of three (3) years (the an “Extended Term”) following the expiration of the initial term of this Lease, by giving written Landlord notice of the exercise of the Option (“Option Notice”) its election to Lessor at least six (6) months, but do so not more less than twelve (12) months prior to the expiration beginning of each such Extended Term. The Extended Terms shall be exercised separately and shall be on the initial term of same terms and conditions as this Lease (“Option Notice Period”). Once Lessee delivers the Option Notice, Lessee cannot revoke it and any attempt to revoke the exercise shall be void. Any Option Notice given at any time other than the Option Notice Period shall be void and of no effect. Notwithstanding the above, except: (i) if lessee is in Default of the Lease on the date of giving the Option Noticefor Base Rent, has been late in making payments of any amounts owed pursuant to this Lease more than two (2) times, then Lessor may deem the Option Notice void and of no effect, which shall be adjusted as set forth below; and (ii) after the last exercised Extended Term there shall be no further renewals of this Lease except as agreed to in writing by Landlord and Tenant. Base Rent for each Extended Term shall be as agreed by Landlord and Tenant, but if Lessee is not agreed to in Default writing by Landlord and Tenant within ninety (90) days of the Lease date of Tenant’s notice of election to extend, then Base Rent shall be at 90% of the then-current fair market base rental rate for similar office space on the date Portland peninsula (which rate shall not include consideration of any Tenant-installed improvements or modifications to the Extended Term is to beginLeased Premises), then Lessor may deem the Option void and terminate the Lease as of the end of the Original Termsuch fair market rate established by market appraisals by three (3) Portland-based MAI appraisers. Lessee may only exercise the Option on all but not less than all of the Premises. Any Option Notice that purports to exercise the Option for less than all of the PremisesEach party shall, shall be deemed to exercise the Option for all of the Premises. If Lessee has not been in possession of all of the Premises (no part of the Premises has been vacated or sublet) for all of 2013, then notwithstanding any other provision of this Lease, Lessor may, in Lessor’s sole and absolute discretion, terminate the Lease as of the end of the Original Term. The Parties shall have within thirty (30) days after Lessor receives Tenant’s notice of its election to exercise, select an appraiser, who shall have at least five (5) years of experience in appraising commercial properties in the Option Notice during which Greater Portland area. If either Landlord or Tenant fails to timely appoint an appraiser, the appraiser so appointed shall select a second (2nd) appraiser. The two (2) appraisers shall together select a third appraiser similarly qualified. The three (3) appraisers together shall attempt to agree on the monthly rent during the extended term. If the parties agree on the monthly rent then fair market base rental rate for the Extended TermLeased Premises discounted in accordance with this Lease; in the absence of a unanimous decision, they the fair market base rental rate shall immediately execute an amendment to this Lease which be determined by majority vote. Landlord and Tenant shall state each pay the monthly rent for cost and expenses of their designated appraiser, and share equally the Extended Term cost and expenses of the fact that the Extended Term shall end on April 30, 2017third (3rd) appraiser.

OPTION TO EXTEND LEASE. 50.1 Subject to the provisions of paragraph 3.9 of this Lease, Lessor hereby grants to Lessee shall have the one (1) option (“Option”) to extend the term of this Lease on all provisions contained in this Lease, except the Base Rent, for a period of three five (35) years years. Said option shall be conditional upon Lessor's receipt of written notice of Lessee's exercise of said option no later that six (6) months prior to the “Extended Term”) following the expiration termination of the said initial term of this Lease, by . Such option to extend is further conditioned upon Lessee's not being in default under the terms of this Lease at the time for giving written such notice and at the time for the commencement of the extension term. In the event of the exercise of such option, the Option term of this lease shall be extended on the same terms and conditions set forth herein except for the rental rate, which shall be determined as set forth in this paragraph 50. In the event of the exercise by Lessee of an option to extend, Lessor shall, on or before three (“Option Notice”) to Lessor at least six (6) months, but not more than twelve (123) months prior to the expiration end of the then current term notify Lessee of the proposed Base Rent during the next succeeding extension term. Lessor shall establish the initial Base Rent during extension term as the fair market rate for comparable properties in the vicinity of this Lease (“Option Notice Period”)the Premises, all determined in Lessor's sole judgment. Once If Lessee delivers the Option Noticedisagrees with Lessor's determination, Lessee cannot revoke it shall so notify Lessor within five (5) days in writing and any attempt to revoke Lessor and Lessee shall each within five (5) days thereafter appoint an MAI appraiser and the exercise two appraiser so selected shall appoint a third MAI appraiser, which third appraiser shall determine the prevailing fair market rate for comparable space in the vicinity of the Premises. Such fair market rate as determined shall be voidthe initial Base Rent during the extension term. Any Option Notice given Each party shall bear the cost of its independently appointed appraiser. In no event shall the initial base rent for each extension term be less that the base rent at any time other than the Option Notice Period shall be void and of no effect. Notwithstanding the above, (i) if lessee is in Default of the Lease on the date of giving the Option Notice, has been late in making payments of any amounts owed pursuant to this Lease more than two (2) times, then Lessor may deem the Option Notice void and of no effect, and (ii) if Lessee is in Default of the Lease on the date the Extended Term is to begin, then Lessor may deem the Option void and terminate the Lease as of the end of the Original Term. Lessee may only exercise the Option on all but not less than all of the Premises. Any Option Notice that purports to exercise the Option for less than all of the Premises, shall be deemed to exercise the Option for all of the Premises. If Lessee has not been in possession of all of the Premises (no part of the Premises has been vacated or sublet) for all of 2013, then notwithstanding any other provision of this Lease, Lessor may, in Lessor’s sole and absolute discretion, terminate the Lease as of the end of the Original Term. The Parties shall have thirty (30) days after Lessor receives the Option Notice during which to attempt to agree on the monthly rent during the extended preceding term. If the parties agree on the monthly rent for the Extended Term, they shall immediately execute an amendment to this Lease which shall state the monthly rent for the Extended Term and the fact that the Extended Term shall end on April 30, 2017.

OPTION TO EXTEND LEASE. Lessee Tenant shall have the right and option (the “Option”) to extend the term of this Lease on for all provisions contained in this Lease(but not part) of the Premises, except the Base Rentas hereinafter provided, for a period two (2) periods of three (3) years each (the hereinafter referred to as “Extended TermRenewal Term One” and “Renewal Term Two”) following provided that (i) there is not then an Event of Default at the expiration time of the initial term of this Lease, by giving written notice of the exercise of the Option nor at the commencement of either of the Renewal Terms; and (“ii) that there has not been a material adverse change to Tenant’s financial status. Tenant’s right to extend for any Renewal Term shall lapse without further act or deed if Tenant has not exercised its option to extend for all available preceding Renewal Terms. The Option Notice”) shall be exercised by Tenant giving written notice to Lessor at least six (6) months, but Landlord of Tenant’s intention to exercise said Option on or before that date which is not more than twelve (12) months nor less than nine (9) months prior to the then applicable expiration date for the Term. Unless Landlord has received such written notice of Tenant’s intention to exercise said Option within the time period specified herein, then Landlord shall have no further obligation to offer the Premises to the Tenant. If Tenant has not exercised its Option to extend the Terms as outlined herein, Landlord shall be entitled to show the Premises at least nine (9) months prior to the expiration of each Term and offer the initial term of this Lease (“Premises for lease to any other prospective tenants. The Option Notice Period”)contained herein is personal to Tenant and shall not be assigned or sublet to another party, except as to such party that purchases Tenant. Once Lessee delivers the Option NoticeRental rates will be at then Fair Market Rate, Lessee cannot revoke it and any attempt to revoke the exercise shall be void. Any Option Notice given at any time other but, in no case, less than the Option Notice Period shall be void and of no effect. Notwithstanding the above, (i) if lessee is current Base Rent then in Default of the Lease on the date of giving the Option Notice, has been late in making payments of any amounts owed pursuant to this Lease more than two (2) times, then Lessor may deem the Option Notice void and of no effect, and (ii) if Lessee is in Default of the Lease on the date the Extended Term is to begin, then Lessor may deem the Option void and terminate the Lease as of the end of the Original Term. Lessee may only exercise the Option on all but not less than all of effect for the Premises. Any Option Notice that purports to exercise the Option for less than all of the Premises, The Fair Market Rent shall be deemed to exercise established by agreement between Landlord and Tenant in accordance with the Option for all of the Premises. If Lessee has not been in possession of all of the Premises (no part of the Premises has been vacated or sublet) for all of 2013FAIR MARKET RENT DEFINITION section or, then notwithstanding any other provision of this Lease, Lessor mayfailing agreement, in Lessor’s sole and absolute discretion, terminate accordance with the Lease as of the end of the Original Term. The Parties shall have thirty (30) days after Lessor receives the Option Notice during which to attempt to agree on the monthly rent during the extended term. If the parties agree on the monthly rent for the Extended Term, they shall immediately execute an amendment to this Lease which shall state the monthly rent for the Extended Term and the fact that the Extended Term shall end on April 30, 2017ARBITRATION PROCEDURES section.

OPTION TO EXTEND LEASE. Reference is made to paragraph 39 of the Lease setting forth provisions governing Options under this Lease. Lessor hereby grants to Lessee shall have the option (“Option”) an Option to extend the term of this Lease on all provisions contained in this Lease, except the Base Rent, for a period of three (3) years (the “Extended Term”) following the expiration of the initial term of this Lease, by giving written subject to the provisions of said paragraph 39. Said Option shall be for an additional term of five (5) years following the last day of the initial term hereof. Written notice of the Lessee's exercise of the said Option (“Option Notice”) shall be given to Lessor at least six (6) months, but not more than twelve (12) months prior to 180 days, nor less than 90 days before the expiration last day of the initial term of this Lease (“Option Notice Period”)the Lease. Once Lessee delivers the Option Notice, Lessee cannot revoke it Failure to give Lessor such notice as aforesaid shall cause said option to lapse forthwith and any attempt to revoke the exercise thereafter shall be void. Any Option Notice given at any time other than the Option Notice Period shall be void and of have no effect. Notwithstanding the above, (i) if lessee is in Default of the Lease on the date of giving the Option Notice, has been late in making payments of any amounts owed pursuant to this Lease more than two (2) times, then Lessor may deem the Option Notice void and of no further force or effect, and (ii) if Lessee is in Default may not be exercisable by Lessee. The basic monthly rent during the first year of the Lease on the date the Extended Term is to begin, then Lessor may deem the Option void and terminate the Lease as term shall be ninety-five percent (95%) of the end then fair market rental value of the Original Termleased premises in its then existing condition subject to the annual three percent (3%) adjustment increases as provided in paragraph 50 hereof. Lessee may only exercise the Option on all but not less than all of the Premises. Any Option Notice that purports to exercise the Option for less than all of the Premises, shall be deemed to exercise the Option for all of the Premises. If Lessee has not been in possession of all of the Premises (no part of the Premises has been vacated or sublet) for all of 2013, then notwithstanding any other provision of this Lease, Lessor may, in Lessor’s sole and absolute discretion, terminate the Lease as of the end of the Original Term. The Parties shall have Within thirty (30) days after Lessor receives prior to the commencement of the Option Notice during which to term, Lessor and Lessee shall negotiate and attempt to agree on the monthly rent during rental for the extended Option term. If In the parties agree on event the monthly Lessor and Lessee are unable to agree, then within ten (10) days after the Option term begins, the same shall be submitted to binding arbitration to determine said rental rate. Each party shall select an appraiser familiar with commercial industrial office rental property rates for buildings and property similarly situated to the leased property. The two appraisers so selected shall establish the rent for by agreement within twenty (20) days after their appointment. Upon failure of the Extended Termtwo (2) appraisers to agree, they shall immediately execute an amendment select a third appraiser similarly qualified to this Lease which them who shall state determine said rental rate within twenty (20) days after his appointment. The rate so fixed shall be effective retroactively to the monthly rent for commencement date of the Extended Term Option term, but in no event shall it be less than the rental rate in effect during the last year of the initial term of the Lease. The fees and costs of the appraiser selected by each party shall be born by that party. The fees and costs of any third appraiser selected by the two (2) appraisers shall be born equally by the Lessor and the fact that Lessee. The appraisers selected may be licensed appraisers, or real estate brokers or licensed sales agents who are active in leasing and offering property for lease which is comparable in type and location to the Extended Term shall end on April 30, 2017leased premises.

OPTION TO EXTEND LEASE. Lessee Tenant shall have the option (“Option”) option, for so long as [employee] shall be employed by E*TRADE, to extend the term of this Lease on all provisions contained in this Lease, except the Base Rent, for a period of three (3) years (the “Extended Term”"Extension Option") following for successive terms of one year each (the expiration of "Option Terms") upon and subject to the initial term terms and conditions of this Leaseparagraph 21. Each Extension Option shall be exercised, if at all, by giving written notice of (the exercise of the "Option (“Option Exercise Notice”") given to Lessor at least six (6) months, but Owner not more earlier than twelve (12) four months nor later than two months prior to the expiration date of the initial term Term. If Tenant exercises an Extension Option, each of the terms, covenants and conditions of the Lease shall apply during such Option Term as though the expiration date of the Option Term was the date originally set forth herein as the expiration date, except that the Rent for such Option Term shall be the fair market rental for the Property as reasonably determined by Owner ("Fair Market Rental"). Notwithstanding the foregoing, if Tenant (i) fails to timely exercise any Extension Option, or (ii) cancels an Option Exercise Notice as provided below, the remaining Extension Options shall automatically be null and void. If Tenant is in default under any of the terms, covenants or conditions of this Lease (“either at the time Tenant exercises an Extension Option Notice Period”). Once Lessee delivers the Option Notice, Lessee cannot revoke it and any attempt to revoke the exercise shall be void. Any Option Notice given or at any time other than thereafter prior to the commencement date of the Option Notice Period Term, Owner shall be void have, in addition to all of Owners' other rights and remedies provided in this Lease, the right to terminate the Extension Option upon notice to Tenant. Within ten business days after Owner's receipt of no effect. Notwithstanding the above, (i) if lessee is in Default of the Lease on the date of giving the an Option Exercise Notice, has been late Owner shall give notice to Tenant of its determination of Fair Market Rental for such option period ("Rental Notice"). Tenant may, by notice delivered to Owner within ten business days following receipt of a Rental Notice, cancel his or her Option Exercise Notice, in making payments of any amounts owed pursuant to which case this Lease more than two (2) times, then Lessor may deem the Option Notice void and of no effect, and (ii) if Lessee is in Default of the Lease on the date the Extended Term is to begin, then Lessor may deem the Option void and shall terminate the Lease as of at the end of the Original Termthen current term. Lessee may only exercise the Option on all but not less than all of the Premises. Any Option Notice that purports to exercise the Option for less than all of the Premises, In no event shall be deemed to exercise the Option for all of the Premises. If Lessee has not been in possession of all of the Premises (no part of the Premises has been vacated or sublet) for all of 2013, then notwithstanding any other provision of this Lease, Lessor may, in Lessor’s sole and absolute discretion, terminate paragraph be construed to extend the term of the Lease as beyond the date of the end termination of the Original Term. The Parties shall have thirty (30) days after Lessor receives the Option Notice during which to attempt to agree on the monthly rent during the extended term. If the parties agree on the monthly rent for the Extended Term, they shall immediately execute an amendment to this Lease which shall state the monthly rent for the Extended Term and the fact that the Extended Term shall end on April 30, 2017[employee]' employment by E*TRADE.

OPTION TO EXTEND LEASE. Provided that Lessee has not been in default under any of the provisions of this Lease beyond any cure period specified herein and is not in default hereunder at the time it exercises this option, Lessee shall have the one (1) option (“Option”) to extend the term of this Lease on all provisions contained in this Lease, except the Base Rent, for a period an additional term of three five (35) years (the “Extended Term”"extended term") following the expiration of the initial term of this Lease, upon all of the same terms and conditions as this Lease, provided that such option shall be exercised by giving written notice of the exercise of the Option (“Option Notice”) to Lessor at least six (6) months, but not more than twelve (12) months nor less than nine (9) months prior to the expiration of the initial original term of this Lease (“Option Notice Period”)Lease. Once Lessee delivers The rent for the Option Notice, Lessee cannot revoke it and any attempt to revoke the exercise extended term shall be void. Any Option Notice given at any time other than the Option Notice Period shall be void and of no effect. Notwithstanding the above, (i) if lessee is in Default 100% of the Lease on the date of giving the Option Notice, has been late in making payments of any amounts owed pursuant to this Lease more than two (2) times, then Lessor may deem the Option Notice void and of no effect, and (ii) if Lessee is in Default of the Lease on the date the Extended Term is to begin, then Lessor may deem the Option void and terminate the Lease as of the end of the Original Term. Lessee may only exercise the Option on all but not less than all of the Premises. Any Option Notice that purports to exercise the Option fair market rental for less than all of the Premises, shall be deemed taking into account any concessions to exercise tenants of comparable size and credit in buildings of similar age and quality in the Option for all of the Premisesimmediate submarket. If Lessee has not been in possession of all of the Premises (no part of the Premises has been vacated or sublet) for all of 2013, then notwithstanding any other provision of this Lease, Lessor may, in Lessor’s sole and absolute discretion, terminate the Lease as of the end of the Original Term. The Parties shall have Within thirty (30) days after following the date Lessee exercises its option, Lessor receives the Option Notice during which to attempt and Lessee shall use their reasonable best efforts to agree on the monthly rent during for the extended term. If Lessor and Lessee are unable to agree on the rent for the extended term within said thirty (30) day period, then within ten (10) days after said period, Lessor and Lessee shall each submit to the other in writing their good faith estimate of the rent for the extended term. If the higher of said estimates is not more than one hundred ten percent (110%) of the lower of such estimates, the rent for the extended term shall be the average thereof. If otherwise, then within five (5) days after submission of said estimates, either party may submit the question to appraisal in accordance with the following procedure. Within twenty (20) days after either party requests appraisal, the parties shall select a mutually acceptable commercial real estate broker with experience in the leasing of comparable space in the vicinity of the premises, who shall determine the rent for the extended term. If the parties cannot agree on such a commercial real estate broker within said twenty (20) day period, then within five (5) days thereafter, each party shall select an independent commercial real estate broker meeting the criteria set forth above. If one party shall fail to make such appointment within said five (5) day period, then the broker chosen by the other party shall determine the rent for the extended term. Within twenty (20) days thereafter, each such broker shall independently determine his or her opinion of the rent for the extended term, and shall provide a report to Lessor and Lessee stating the basis for such opinion. If Lessor and Lessee cannot agree upon the rent for the extended term within twenty (20) days thereafter, the two brokers shall within such twenty (20) day period select a third commercial real estate broker meeting the above criteria and the third broker shall select the rent for the extended term determined by one of the two brokers. If the two brokers selected by Lessor and Lessee cannot agree on the monthly third broker, the third broker shall be selected by Lessor and Lessee within five (5) days after the expiration of said twenty (20) day period. If Lessor and Lessee cannot agree on the third broker, the third broker shall be selected by the then presiding judge of the Xxxxxxxx Xxxxx of California in and for the City and County of San Francisco. If the foregoing process does not result in the selection of a third broker, the parties shall equally share the costs associated with the selection process. The amount selected in accordance with this paragraph shall be deemed to be the rent for the Extended Termextended term and such determination shall be final and binding on both Lessor and Lessee. The cost of the appraisal shall be borne by the nonprevailing party, they as determined by the third broker. In no event shall immediately execute an amendment to this Lease which shall state the monthly rent for the Extended Term and extended term be less than the fact that rent in effect during the Extended Term shall end on April 30, 2017last month of the original term of this Lease.

OPTION TO EXTEND LEASE. Lessee Tenant shall have the option (“Option”) option, provided it is not then in default hereunder, to extend the term of this the Lease on all provisions contained in this Leasefor two (2) consecutive periods of sixty (60) months each (the "Extended Terms"), upon the same terms and conditions as provided herein, except the Base Rent, for a period of three that: (3a) years Minimum Rent shall be adjusted as provided in Paragraph 2 below; and (the “b) no further Extended Term”) Terms shall be available to Tenant following the expiration of the initial term of this Lease, second Extended Term. Tenant shall exercise each such option by giving serving written notice of the exercise of the Option notification (“"Option Notice”") to Lessor at least six (6) months, but upon Landlord not more than twelve nine (129) months or less than four (4) months prior to the expiration of the initial term Lease (or of the first Extended Term, in the case of extension option for the second Extended Term), of its election to extend this Lease. The options to extend this Lease shall be exercisable by Tenant on the express conditions that at each time of exercise, and at all times prior to the commencement of any Extended Term, Tenant shall not be in default under any of the provisions of this Lease, and Tenant shall not have suffered any adverse change in its financial position which, in Landlord's sole judgment, impairs Tenant's ability to fulfill its obligations pursuant to this Lease. Wherever the context of this Lease (“Option Notice Period”). Once Lessee delivers so requires, the Option Notice, Lessee cannot revoke it and any attempt to revoke the exercise shall be void. Any Option Notice given at any time other than the Option Notice Period shall be void and of no effect. Notwithstanding the above, (i) if lessee is in Default of the term "Lease on the date of giving the Option Notice, has been late in making payments of any amounts owed pursuant to this Lease more than two (2) times, then Lessor may deem the Option Notice void and of no effect, and (ii) if Lessee is in Default of the Lease on the date the Extended Term is to begin, then Lessor may deem the Option void and terminate the Lease as of the end of the Original Term. Lessee may only exercise the Option on all but not less than all of the Premises. Any Option Notice that purports to exercise the Option for less than all of the Premises, " shall be deemed to exercise the Option include any Extended Term for all of the Premiseswhich Tenant has exercised its option. The options to extend this Lease are personal to Tenant. If Lessee has not been in possession of all Tenant subleases any portion of the Premises (no part of the Premises has been vacated or sublet) for all of 2013, then notwithstanding assigns or otherwise transfers any other provision of this Lease, Lessor may, in Lessor’s sole and absolute discretion, terminate the Lease as of the end of the Original Term. The Parties shall have thirty (30) days after Lessor receives the Option Notice during which to attempt to agree on the monthly rent during the extended term. If the parties agree on the monthly rent for the Extended Term, they shall immediately execute an amendment to interest under this Lease which prior to the exercise of any option, such option and any succeeding option shall state the monthly rent for the Extended Term terminate and the fact that the Extended Term shall end on April 30, 2017be of no further force or effect.

OPTION TO EXTEND LEASE. Lessee Tenant shall have the right and option (the “Option”) to extend the term of this Lease on for all provisions contained in this Lease(but not part) of the Premises, except the Base Rentas hereinafter provided, for a period two (2) periods of three (3) years each (the hereinafter referred to as “Extended TermRenewal Term One” and “Renewal Term Two”) following provided that (i) there is not an Event of Default at the expiration time of the initial term of this Lease, by giving written notice of the exercise of the Option nor at the commencement of either of the Renewal Terms; and (“ii) that there has not been a material adverse change to Tenant’s financial status. Tenant’s right to extend for any Renewal Term shall lapse without further act or deed if Tenant has not exercised its option to extend for all available preceding Renewal Terms. The Option Notice”) for Renewal Term One shall be exercised by Tenant giving written notice to Lessor Landlord of Tenant’s intention to exercise said Option on or before February 1, 2002. The Option for Renewal Term Two shall be exercised by Tenant giving written notice to Landlord of Tenant’s intention to exercise said Option no earlier than June 14, 2004 nor later than September 14, 2004. Unless Landlord has received such written notices of Tenant’s intention to exercise said Options within the time period specified herein, then Landlord shall have no further obligation to offer the Premises to the Tenant. If Tenant has not exercised its Option to extend the Terms as outlined herein, Landlord shall be entitled to show the Premises at least six four (6) months, but not more than twelve (124) months prior to the expiration of the initial term Term and at least nine (9) months prior to the expiration of this Lease (“Renewal Term One and offer the Premises for lease to any prospective tenants. The Option Notice Period”)contained herein is personal to Tenant and shall not assigned or sublet to another party, except as to such party that purchases Tenant. Once Lessee delivers Rental rates will be at then Fair Market Rate, but, in no case, less that the Option Notice, Lessee cannot revoke it and any attempt to revoke current Base Rent then in effect for the exercise Premises. The Fair Market Rent shall be voidestablished by agreement between Landlord and Tenant in accordance with the FAIR MARKET RENT DEFINITION section, or failing agreement, in accordance with the ARBITRATION PROCEDURES section. Any Option Notice given at any time other than the Option Notice Period shall be void Except as is herein above set forth, all terms, provisions and of no effect. Notwithstanding the above, (i) if lessee is in Default covenants of the Lease on the date of giving the Option Notice, has been late shall remain unchanged and in making payments of any amounts owed pursuant to this Lease more than two (2) times, then Lessor may deem the Option Notice void full force and of no effect, and (ii) if Lessee is in Default of the Lease on the date the Extended Term is to begin, then Lessor may deem the Option void and terminate the Lease as of the end of the Original Term. Lessee may only exercise the Option on all but not less than all of the Premises. Any Option Notice that purports to exercise the Option for less than all of the Premises, shall be deemed to exercise the Option for all of the Premises. If Lessee has not been in possession of all of the Premises (no part of the Premises has been vacated or sublet) for all of 2013, then notwithstanding any other provision of this Lease, Lessor may, in Lessor’s sole and absolute discretion, terminate the Lease as of the end of the Original Term. The Parties shall have thirty (30) days after Lessor receives the Option Notice during which to attempt to agree on the monthly rent during the extended term. If the parties agree on the monthly rent for the Extended Term, they shall immediately execute an amendment to this Lease which shall state the monthly rent for the Extended Term and the fact that the Extended Term shall end on April 30, 2017.

OPTION TO EXTEND LEASE. Lessee Provided the Lease is in full force and effect and Tenant is not then in material default beyond any applicable notice, grace or cure period, Tenant shall have the option (“Option”) right to elect to extend the term of this Lease on all provisions contained in this LeaseInitial Term for up to four (4) consecutive, except the Base Rentadditional five (5) year terms (each, for a period of three (3) years (the an “Extended Term”) following the expiration of the initial term of this Lease, by giving written Landlord notice of the exercise of the Option (“Option Notice”) its election to Lessor at least six (6) months, but do so not more less than twelve (12) months prior to the expiration beginning of each such Extended Term. The Extended Terms shall be exercised separately and shall be on the initial term of same terms and conditions as this Lease (“Option Notice Period”). Once Lessee delivers the Option Notice, Lessee cannot revoke it and any attempt to revoke the exercise shall be void. Any Option Notice given at any time other than the Option Notice Period shall be void and of no effect. Notwithstanding the above, except: (i) if lessee is in Default of the Lease on the date of giving the Option Noticefor Base Rent, has been late in making payments of any amounts owed pursuant to this Lease more than two (2) times, then Lessor may deem the Option Notice void and of no effect, which shall be adjusted as set forth below; and (ii) after the last exercised Extended Term there shall be no further renewals of this Lease except as agreed to in writing by Landlord and Tenant. Base Rent for each Extended Term shall be as agreed by Landlord and Tenant, but if Lessee is not agreed to in Default writing by Landlord and Tenant within ninety (90) days of the Lease date of Tenant’s notice of election to extend, then Base Rent shall be at 90% of the then-current fair market base rental rate for similar office space on the date Portland peninsula (which rate shall not include consideration of any Tenant-installed improvements or modifications to the Extended Term is to beginLeased Premises), then Lessor may deem the Option void and terminate the Lease as of the end of the Original Termsuch fair market rate established by market appraisals by three (3) Portland-based MAI appraisers. Lessee may only exercise the Option on all but not less than all of the Premises. Any Option Notice that purports to exercise the Option for less than all of the PremisesEach party shall, shall be deemed to exercise the Option for all of the Premises. If Lessee has not been in possession of all of the Premises (no part of the Premises has been vacated or sublet) for all of 2013, then notwithstanding any other provision of this Lease, Lessor may, in Lessor’s sole and absolute discretion, terminate the Lease as of the end of the Original Term. The Parties shall have within thirty (30) days after Lessor receives Tenant’s notice of its election to exercise, select an appraiser, who shall have at least five (5) years of experience in appraising commercial properties in the Option Notice during which Greater Portland area. If either Landlord or Tenant fails to timely appoint an appraiser the appraiser so appointed shall select a second (2nd) appraiser. The two (2) appraisers shall together select a third appraiser similarly qualified. The three (3) appraisers together shall attempt to agree on the monthly rent during the extended term. If the parties agree on the monthly rent then fair market base rental rate for the Extended TermLeased Premises discounted in accordance with this Lease; in the absence of a unanimous decision, they the fair market base rental rate shall immediately execute an amendment to this Lease which be determined by majority vote. Landlord and Tenant shall state each pay the monthly rent for cost and expenses of their designated appraiser, and share equally the Extended Term cost and expenses of the fact that the Extended Term shall end on April 30, 2017third (3rd) appraiser.