FOURTH AMENDMENT TO LEASE
THIS FOURTH AMENDMENT TO LEASE AGREEMENT (this “ Amendment ” or “ Fourth Amendment ”) is made and
entered into by and between Minneapolis 225 Holdings, LLC, a Delaware limited liability company (“ Landlord ”) and Capella
Education Company, a Minnesota corporation (“ Tenant ”), as of the 25th day of June, 2010 (the “ Fourth Amendment Effective
A. Landlord and Tenant are parties to that certain Office Lease dated as of February 23, 2004 (the “ Original Lease ”) by
and between Tenant, as tenant and Landlord’s predecessor-in-interest, 601 Second Avenue Limited Partnership, as landlord,
which was amended by First Amendment to Lease dated as of May 16, 2006, Second Amendment to Lease dated as of
March 17, 2008 (“ Second Amendment ”) and Third Amendment to Lease dated as of June 10, 2009 (as so amended, the “
Existing Lease ” and as further amended by this Amendment, the “ Lease ”).
B. The parties have agreed to amend the Lease as set forth herein.
NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:
“ Amendment Brokers ” means CB Richard Ellis and TEGRA Group (“ Tegra ”).
“ Fourth Amendment Applicable Improvement Allowance ” means (i) Twenty-Four and 36/100 Dollars ($24.36) per
square foot of Rentable Area of the Fourth Floor Expansion Space and (ii) Nineteen and 74/100 Dollars ($19.74) per
square foot of Rentable Area of the Twelfth Floor Expansion Space.
“ Fourth Amendment Applicable Improvement Allowance Expiration Date ” means (i) June 1, 2011, with respect to the
Fourth Amendment Applicable Improvement Allowance for the Fourth Floor Expansion Space and (ii) June 1, 2012,
with respect to the Fourth Amendment Applicable Improvement Allowance for the Twelfth Floor Expansion Space.
1. Application of Lease Terms . Except to the extent