Exhibit 10.1


 


Granite
Park Two


 


OFFICE LEASE


 


BASIC LEASE INFORMATION


 


	1.	Date of Lease: 	April 9, 2015


 


	2.	Building:	 
	 	 	 	 
	 	a.	Name:	Granite Park Two
	 	b.	Address:	5700 Granite Parkway, Plano, Texas 75024
	 	c.	Building Rentable Area:	256,250 square feet


 


	3.	Tenant: 	I.D. Systems


 


	4.	Premises:	 
	 	 	 
	 	a.	Suite: 550
	 	b.	Premises Rentable Area: 11,482 square feet


 


		5.	Basic Rent:



 


	
        Rental

        Period
	
        Annual Rate Per

        Square Foot of Premises

        Rentable Area
	
        Basic

        Monthly

        Rent

	 	 	 
	Months 1 – 5 	$0.00 / RSF NNN + E	$0.00 / RSF NNN + E  
	 	 	 
	Months 6 – 17 	$22.00 / RSF NNN + E	$21,050.33 / RSF NNN + E
	 	 	 
	Months 18 – 29	$22.50 / RSF NNN + E	$21,528.75 / RSF NNN + E
	 	 	 
	Months 30 – 41 	$23.00 / RSF NNN + E	$22,007.17 / RSF NNN + E
	 	 	 
	Months 42 – 53 	$23.50 / RSF NNN + E	$22,485.58 / RSF NNN + E
	 	 	 
	Months 54 – 65	$24.00 / RSF NNN + E	$22,964.00 / RSF NNN + E


 


		6.	Estimated Additional Rent per Square Foot of Premises Rentable Area for 2015 Calendar Year:
$10.77/RSF plus Electrical Expenses (defined in Section 2.2.1(a): $1.00/RSF; Estimated Monthly Additional Rent for
2015 Calendar Year: $10,305.10, plus Electrical Expenses: $956.83.



 


		7.	Estimated Monthly Total Rent for 2015 Calendar Year: $31,355.43, plus Electrical Expenses;
provided, however, that payments of Basic Monthly Rent and Additional Rent shall be abated during the first five (5) months of
the Term.



 


		8.	Tenant's Share: 4.48% (See subsection 1.1.2)



 


		9.	Term: Sixty-Five (65) months



 


		10.	Commencement Date: October 1, 2015



 


		11.	Expiration Date: February 28, 2021



 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two 


Date: March 2015


 




    	i



    	 



    

  


		12.	Permitted Use: General office use.



 


		13.	Security Deposit: $30,082.84



 


		14.	Guarantor: N/A



 


		15.	Addresses:



 


	
        Landlord:   GP Park II,
        LLC

        5601 Granite Parkway, Suite 800

        Plano, Texas 75024
	
        Tenant:   I. D. Systems,
        Inc.

        (Prior to the Commencement Date)

	Attention: Director of Leasing	123 Tice Blvd.
	Phone: 972-731-2300	Woodcliff Lake, NJ 07677
	Fax: 972-731-2360	Attention: Ned Mavrommatis
	 	Phone: 201-996-9000
	 	Fax:  201-996-9144
	 	Email: ned@id-systems.com
	 	 
	 	(From and after the Commencement Date)
	 	 
	 	I.D. Systems, Inc.
	 	5700 Granite Parkway, Suite 550
	 	Plano, Texas 75024
	 	Attention: Ned Mavrommatis
	 	Phone: 201-996-9000
	 	Fax: 201-996-9144
	 	Email: ned@id-systems.com


 


		16.	Parking:



 


0  Reserved spaces at $75.00


per month per each


46 Unreserved spaces at $0.00


per month per each


46 Total spaces


(Subject to Exhibit F)


 


		17.	Tenant's Improvements:



 


Finish Allowance: $10.00 per square
foot of Premises Rentable Area.


(Subject to Exhibit D)


 


		18.	Tenant Broker: (See Section 15.7)



 


		19.	Landlord Broker: (See Section 15.7)



 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two 


Date: March 2015


 




    	ii



    	 



    

  


TABLE OF CONTENTS

FOR OFFICE LEASE


 


	 	Page
	 	 
	ARTICLE 1 – TERM AND POSSESSION	1
	 	 
	ARTICLE 2 – RENT	2
	 	 
	ARTICLE 3 – SECURITY DEPOSIT	6
	 	 
	ARTICLE 4 – OCCUPANCY AND USE	7
	 	 
	ARTICLE 5 – UTILITIES AND SERVICES	8
	 	 
	ARTICLE 6 – MAINTENANCE, REPAIRS, ALTERATIONS AND IMPROVEMENTS	10
	 	 
	ARTICLE 7 – INSURANCE AND CASUALTY	12
	 	 
	ARTICLE 8 – CONDEMNATION	15
	 	 
	ARTICLE 9 – LIENS	15
	 	 
	ARTICLE 10 – TAXES ON TENANT'S PROPERTY	15
	 	 
	ARTICLE 11 – SUBLETTING AND ASSIGNING	16
	 	 
	ARTICLE 12 – TRANSFERS BY LANDLORD, SUBORDINATION AND TENANT'S ESTOPPEL CERTIFICATE	17
	 	 
	ARTICLE 13 – DEFAULT	18
	 	 
	ARTICLE 14 – NOTICES	20
	 	 
	ARTICLE 15 – MISCELLANEOUS PROVISIONS	20


 


EXHIBITS TO OFFICE LEASE


 


	Exhibit A	Land Legal Description
	Exhibit B	Premises Floor Plan
	Exhibit C	Rules and Regulations 
	Exhibit D	Work Letter 
	Exhibit E	Acceptance of Premises Memorandum 
	Exhibit F	Parking Agreement
	Rider 1	Renewal Option
	Rider 2	Right to Sublease or Assign to Affiliate
	Rider 3	Cap on Certain Operating Expenses
	Rider 4	Right to Audit


 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two 


Date: March 2015


 




    	iii



    	 



    

  


OFFICE LEASE


 


This Office Lease (this
"Lease") is made by and between GP Park II, LLC ("Landlord"), and I. D. Systems, Inc. ("Tenant").
The Basic Lease Information attached hereto as pages i through iii (the "Basic Lease Information") and all
exhibits and other attachments to this Lease are incorporated into this Lease and made a part hereof. Capitalized terms used in
this Lease without definitions have the respective meanings assigned to them in the Basic Lease Information.


 


ARTICLE
1

TERM AND POSSESSION


 


SECTION
1.1          LEASE
OF PREMISES, COMMENCEMENT AND EXPIRATION. 


 


		1.1.1	Lease of Premises. The Building is constructed on the land described in Exhibit A
attached hereto (the "Land") and is located adjacent to and served by an above-grade, multi-level parking garage
(the "Garage"). In consideration of the mutual covenants herein, Landlord hereby leases to Tenant, and Tenant
hereby leases from Landlord, the Premises, subject to all the terms and conditions of this Lease. The Premises are shown as the
crosshatched area on Exhibit B attached hereto. The Building, the Garage, the Land and all other improvements located thereon
and appurtenances thereto are referred to collectively herein as the "Property".



 


		1.1.2	Rentable Area. The agreed rentable area of the Premises is stipulated to be the Premises
Rentable Area, which is set forth in the Basic Lease Information and has been determined by applying the BOMA method. The Tenant's
Share stipulated in the Basic Lease Information has been calculated by dividing the Premises Rentable Area by the Building Rentable
Area, then expressing such quotient as a percentage.



 


		1.1.3	Term and Commencement. The Term of this Lease shall commence on the Commencement Date (as
such Commencement Date may be adjusted pursuant to subsection 1.2.1 below or the Work Letter (herein so called) attached hereto
as Exhibit D) and, unless sooner terminated pursuant to the terms of this Lease, shall expire, without notice to Tenant,
on the Expiration Date (as such Expiration Date may be adjusted pursuant to subsection 1.2.1 below or the Work Letter). In
the event the Commencement Date occurs on other than on the first day of the month, such partial month shall be added to the Term
and the Expiration Date shall be the last day of the last month of the Term.



 


SECTION
1.2          COMPLETION
AND DELIVERY OF PREMISES. 


 


		1.2.1	Construction of Tenant's Improvements. The Tenant's Improvements shall be constructed in
the Premises as defined and provided in the Work Letter. Landlord will use reasonable efforts to achieve Substantial Completion
(as defined in the Work Letter) of Tenant's Improvements by the Commencement Date provided in the Basic Lease Information.



 


		1.2.2	Acceptance of Premises Memorandum. Within ten (10) days after Substantial Completion of
Tenant's Improvements, Landlord and Tenant shall execute the Acceptance of Premises Memorandum (herein so called) in the form attached
hereto as Exhibit E; provided, however, that in the event Tenant fails to timely execute an Acceptance of Premises Memorandum,
the Premises shall be deemed to be Substantially Complete (as defined in the Work Letter) and suitable for the Permitted Use without
Tenant's execution of an Acceptance of Premises Memorandum.



 


		1.2.3	Occupancy of the Premises. Tenant's contractors and consultants shall have the right to
enter upon the Premises with Landlord's prior written approval, such approval not to be unreasonably withheld or delayed, to perform
installation of Tenant's telephone systems, office equipment, trade fixtures and furnishings, provided Tenant and Tenant's Contractors
(as defined in the Work Letter) shall not interfere with the construction of Tenant's Improvements and further provided that such
entry shall be subject to all terms and conditions of this Lease other than the obligation to pay Rent.



 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two 


Date: March 2015


 




    	1



    	 



    




 


SECTION
1.3               REDELIVERY
OF THE PREMISES. Upon the expiration or earlier termination of this Lease or upon the exercise by Landlord of its right to
re-enter the Premises without terminating this Lease pursuant to subsection 13.2.2 below, Tenant shall immediately deliver to Landlord
the Premises in good, broom clean condition, ordinary wear and tear, damage by casualty and/or condemnation and repairs required
to be made by Landlord hereunder excepted, together with all keys and parking and access cards. All fixtures installed in the Premises
shall remain therein and become the property of Landlord.


 


SECTION
1.4               HOLDING
OVER. In the event Tenant retains possession of the Premises after the expiration or earlier termination of this Lease, such
possession shall constitute a tenancy at sufferance only, subject, however, to all of the terms, provisions, covenants and agreements
on the part of Tenant hereunder. In such event, Tenant shall be subject to immediate eviction and removal and shall pay Landlord
as rent for the period of such holdover an amount equal to one and one-half (1-1/2) times the Basic Annual Rent and Additional
Rent (each as hereinafter defined) in effect immediately preceding expiration or termination, as applicable, which payments shall
be due and payable on or before the first (1st) day of each month during any holdover period. Tenant shall also pay
any actual and consequential damages sustained by Landlord as a result of such holdover but Tenant shall not be liable for punitive
or exemplary damages.


 


ARTICLE
2

RENT


 


SECTION
2.1               BASIC
RENT. Tenant shall pay as annual rent for the Premises the product of the Premises Rentable Area times the annual rate per
square foot of Premises Rentable Area shown in the Basic Lease Information (such product is herein called "Basic Annual
Rent"). The Basic Annual Rent shall be payable in monthly installments equal to the applicable Basic Monthly Rent shown
in the Basic Lease Information, and the monthly installments of Basic Annual Rent shall be due in advance, without demand, offset
or deduction, commencing on the Commencement Date and continuing on the first (1st) day of each calendar month
thereafter unless otherwise provided herein. If the Commencement Date occurs on a day other than the first day of the calendar
month, the Basic Monthly Rent for such partial month shall be prorated. Upon execution of this Lease, Tenant shall pay to Landlord
an amount equal to the initial monthly installment of Rent due hereunder and such amount shall be applied to the first installment
of Rent due hereunder. All payments shall be payable to Landlord and sent to the payment address or routing number provided to
Tenant by Landlord. All payments shall be in the form of check or wire transfer unless otherwise designated by Landlord, provided
that payment by check shall not be deemed made if the check is not duly honored with good funds.


 


SECTION
2.2          ADDITIONAL
RENT. 


 


		2.2.1	Definitions. For purposes of this Lease, the following definitions shall apply:



 


		(a)	"Additional Rent" shall mean the sum of: (i) Tenant's Share multiplied by the
Operating Expenses (hereinafter defined) and Taxes (hereinafter defined) for the calendar year in question, plus (ii) Tenant's
Share multiplied by all costs incurred by Landlord to supply electricity to the Property, as determined in good faith by Landlord
("Electrical Expenses"), plus (iii) any applicable rental, excise, sales, transaction, business activity tax or
levy, imposed upon or measured by the rental required to be paid by Tenant under this Lease during the calendar year in question.
("Rental Tax").



 


		(b)	"Operating Expenses" shall mean all of the costs and expenses Landlord incurs,
pays or becomes obligated to pay in connection with operating, maintaining, insuring and managing the Property for a particular
calendar year or portion thereof, as reasonably determined by Landlord in accordance with sound accounting principles and all taxes
thereon, including, without limitation, all costs of maintaining and managing the Building or any part thereof to be sustainable
and conform with the USGBC's LEED rating system (as the same may be modified or updated and as applicable to the Building) or such
other sustainability or "green building" certification system as may be selected by Landlord from time to time (individually
and collectively "LEED Certification"). Notwithstanding the foregoing, the term Operating Expenses shall not include:



 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two 


Date: March 2015


 




    	2



    	 



    

  


		(i)	management fees ("Management Fees") payable to the property management company
managing the Property (the "Property Manager"), which Property Manager may be an affiliate of Landlord, in excess
of the amounts reasonably customary in the marketplace for office buildings comparable to the Building



 


		(ii)	legal services, if incurred:



 


		(A)	in connection with tenant defaults, lease negotiations or procuring new tenants, or



 


		(B)	as the result of a specific claim or action for which another tenant in the Building is obligated
under its lease to pay Landlord's legal fees; and



 


		(iii)	any capital expenditures except for:



 


		(A)	the cost of any improvements made to the Property by Landlord that are required under any governmental
law or regulation which was not promulgated, or which was promulgated but was not applicable to the Building, at the time the Building
was constructed, amortized over such period as Landlord shall reasonably determine (but not less than the useful life of such improvement),
together with an amount equal to interest on the unamortized balance thereof at a rate which is equal to the sum of two percent
(2%) per annum plus the annual "Prime Rate" published by The Wall Street Journal in its listing of "Money
Rates," or if such rate is no longer published, a comparable rate of interest listed in a nationally circulated publication
reasonably selected by Landlord, provided that such sum may in no event exceed the maximum interest allowed to be contracted for
under applicable law (such sum is herein called the "Amortization Rate");



 


		(B)	the cost of any improvement made to the Common Areas or Service Corridors of the Property that
is required under interpretations or regulations issued after the Commencement Date under, or amendments made after the Commencement
Date to, the applicable provisions of state law which apply to persons with disabilities and the provisions of the American With
Disabilities Act of 1990, 42 U.S.C. §§ 12101-12213 (such statutes, interpretations and regulations are herein collectively
called the "Disability Acts"), amortized over such period as Landlord shall reasonably determine (but not less
than the useful life of such improvement), together with an amount equal to interest on the unamortized balance thereof at a rate
which, on the date the improvement in question is fully completed, is equal to the Amortization Rate;



 


		(C)	the cost of any other equipment installed in, or capital improvement made to, the Building to the
extent such equipment actually reduces Operating Expenses, increases energy efficiency and/or decreases the Building's use of natural
resources or eliminates waste of the same, amortized over such period as is reasonably determined by Landlord (but not less than
the useful life of such improvement), together with an amount equal to interest on the unamortized balance thereof at a rate, which
on the date the device or equipment in question is fully installed, is equal to the Amortization Rate;



 


		(D)	the cost of any improvements to the Building or equipment installed in or on the Building in connection
with maintaining LEED Certification, amortized over such period as is reasonably determined by Landlord (but not less than the
useful life of such equipment), together with an amount equal to interest on the unamortized balance thereof at a rate, which on
the date the improvement is completed or the equipment installed is equal to the Amortization Rate;



 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two 


Date: March 2015


 




    	3



    	 



    

  


		(iv)	any costs or expenses associated with the leasing, marketing, solicitation, negotiation and execution
of leases in the Building including without limitation promotional and advertising expenses, commissions, finders fees and referral
fees, accounting, legal and other professional fees and expenses relating to the negotiation and preparation of any lease;



 


		(v)	any costs or expenses originally incurred in connection with the initial design and construction
of the Building;



 


		(vi)	any portion of the wages, salaries, benefits, reimbursable expenses and taxes (or allocations thereof)
paid to full and part time personnel of Landlord or Property Manager (collectively, "Compensation Expenses") to
the extent any employee's time is devoted to efforts unrelated to the maintenance and operation of the Building, provided that
in no event shall Compensation Expenses of Property Manager which are included in Operating Expenses exceed the then prevailing
market compensation expense for a full-time building manager in comparable office buildings;



 


		(vii)	any costs or expenses incurred in connection with upgrading the Building to comply with life safety
codes, ordinances, statutes or other laws in effect prior to the Commencement Date or to comply with a tenant's separate specific
request;



 


		(viii)	any costs or expenses related to monitoring, testing, removal, cleaning, abatement or remediation
of any Hazardous or Toxic Materials (hereinafter defined) in the Building or on the Land except for such costs and expenses which
related to monitoring, testing, removal, clearing, abatement or remediation of substances which were designated as Hazardous or
Toxic Materials after the Effective Date;



 


		(ix)	any costs of any service or items sold or provided to tenants or other occupants for which Landlord
or Landlord's managing agent has been or is entitled to be reimbursed by such tenants or other occupants for such service;



 


		(x)	any costs or expenses in connection with services or other benefits which are provided to another
tenant or occupant of the Building and which do not benefit Tenant;



 


		(xi)	any costs for the purchase of sculptures, paintings, fountains or other objects of art or the display
of such items;



 


		(xii)	any increase in Landlord's insurance premiums caused by a specific use of another tenant;



 


		(xiii)	any Operating Expense covered by insurance or condemnation proceeds or reimbursed pursuant to warranty
or service contracts;



 


		(xiv)	any costs or expenses incurred in connection with the renovation of space or construction of improvements
for another tenant of the Building;



 


		(xv)	charitable contributions;



 


		(xvi)	artwork or lobby decorations; or



 


		(xvii)	Electrical Expenses.



 


		(c)	"Taxes" shall mean (i) all real estate taxes and other taxes or assessments
which are levied with respect to the Property or any portion thereof for each calendar year (but excluding any penalties thereon),
(ii)  any tax, surcharge or assessment, however denominated, including any excise, sales, capital stock, assets, franchise,
transaction, business activity, privilege or other tax (other than Rental Tax), which is imposed upon Landlord or the Property
and which is attributable to rent or other revenue derived from the Property or which is imposed as a supplement to or in lieu
of real estate taxes or as a means of raising government revenue to replace revenue lost because of a reduction in real estate
taxes, and (iii)  the costs and expenses of a consultant, if any, or of contesting the validity or amount of any tax, surcharge
or assessment described in clause (i) or (ii) above.



 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two 


Date: March 2015


 




    	4



    	 



    

  


		2.2.2	Gross-Up. If the Building is not 95% occupied during any calendar year or partial calendar
year or if Landlord is not supplying services to 95% of the total square footage of Building Rentable Area at any time during a
calendar year or partial calendar year, Operating Expenses and Electrical Expenses shall be determined as if the Building had been
95% occupied and Landlord had been supplying services to 95% of the square footage of Building Rentable Area during that calendar
year; provided, however, that Landlord agrees that Landlord will not collect or be entitled to collect Operating Expenses and Electrical
Expenses from all of its tenants of the Building in an amount which is in excess of one hundred percent (100%) of the Operating
Expenses and Electrical Expenses actually paid or incurred by Landlord in connection with the operation of the Property. 
The extrapolation of Operating Expenses and Electrical Expenses under this subsection 2.2.2 shall be performed by Landlord by adjusting
Electrical Expenses and the cost of those components of Operating Expenses that are impacted by changes in the occupancy of the
Building, including, without limitation, janitorial services and management fees.



 


		2.2.3	Payment Obligation. In addition to the Basic Rent specified in this Lease, Tenant shall
pay to Landlord the Additional Rent in monthly installments as hereinafter provided. By the Commencement Date (or as soon thereafter
as is reasonably possible), Landlord shall give Tenant written notice of Tenant's estimated Additional Rent for the remainder of
the calendar year in which the Commencement Date occurs and the amount of the monthly installment of Additional Rent due for each
month during such year. Landlord shall use reasonable efforts to provide Tenant with written notice of Tenant's estimated Additional
Rent for the next calendar year and the amount of the monthly installment of Additional Rent due for such year by December 15 of
each calendar year or as soon thereafter as is reasonably possible. Landlord shall have the right to increase Tenant's estimated
Additional Rent during any calendar year if Landlord reasonably believes Operating Expenses, Electrical Expenses and/or Taxes have
increased (or are likely to increase) during such year. Beginning on the Commencement Date and continuing on the first day of each
month thereafter, Tenant shall pay to Landlord the applicable monthly installment of Additional Rent, without demand, offset or
deduction, provided, however, if the applicable installment covers a partial month, then such installment shall be prorated on
a daily basis.



 


		(a)	Within ninety (90) days after the end of each calendar year or as soon thereafter as is reasonably
possible, Landlord shall prepare and deliver to Tenant a statement showing Tenant's actual Additional Rent for the applicable calendar
year. If Tenant's total monthly payments of estimated Additional Rent for the applicable year are less than Tenant's actual Additional
Rent, then Tenant shall pay to Landlord the amount of such underpayment. If Tenant's total monthly payments of estimated Additional
Rent for the applicable year are more than Tenant's actual Additional Rent, then Landlord shall pay such amount to Tenant or, at
Landlord's option, credit against the next Additional Rent payment or payments due from Tenant the amount of such overpayment.
This provision shall survive the expiration or earlier termination of this Lease with respect to the calendar year in which the
Expiration Date or termination occurs.



 


		(b)	Within ninety (90) days after the Expiration Date or termination date of this Lease or as soon
thereafter as is reasonably possible, Landlord shall prepare and deliver to Tenant a statement (the "Final Additional Rent
Statement") showing Tenant's actual Additional Rent for the period beginning February 1 of the year in which the Expiration
Date or termination date occurs and ending on the Expiration Date or termination date (such period is herein called the "Final
Additional Rent Period"). Landlord shall have the right to calculate the actual Operating Expenses, and Additional Rent
allocable to the Final Additional Rent Period which are not determinable within such ninety (90) day period. If the aggregate of
Tenant's monthly payments of estimated Additional Rent for the Final Additional Rent Period are less than Tenant's actual Additional
Rent for such period as set forth in the Final Additional Rent Statement, then Tenant shall pay to Landlord the amount of such
underpayment. If Tenant's monthly payments of estimated Additional Rent for the Final Additional Rent Period are more than Tenant's
actual Additional Rent for such period as set forth in the Final Additional Rent Statement, Landlord shall pay to Tenant the amount
of such excess payments, less any amounts then owed to Landlord.



 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two 


Date: March 2015


 




    	5



    	 



    

  


		(c)	Landlord will cause adequate books and records to be maintained to permit Tenant or its agents
to verify computations of Operating Expenses, Electrical Expenses, Taxes and other amounts relevant to Tenant's obligations under
this Lease in accordance with the provisions hereinafter set forth. Unless Tenant takes written exception to any item within forty-five
(45) days after delivery to Tenant of an annual statement or a statement delivered for the final Additional Rent period, such statement
shall be considered as final and accepted by Tenant. Within ten (10) business days following a request from Tenant, Landlord shall
furnish written explanations to Tenant in reasonable detail for any computation made under this Lease. If Tenant questions such
computation following receipt of such explanation, Tenant shall give notice thereof to Landlord, and Landlord and Tenant shall,
within twenty (20) business days thereafter, discuss, in good faith, such computation.



 


		2.2.4	Real Estate Tax Protest. With regard to Section 41.413 of the Texas Tax Code, Tenant
hereby waives its rights under the provisions of Section 41.413 of the Texas Tax Code (or any successor thereto). In consideration
therefor, Landlord agrees to contest Taxes assessed against the Premises and/or the Building where and to the extent a reasonably
prudent property owner of comparable property would do so if the owner itself had to pay all property taxes without reimbursement
by tenants.



 


SECTION
2.3               RENT
DEFINED AND NO OFFSETS. Basic Annual Rent, Additional Rent and all other sums (whether or not expressly designated as rent)
required to be paid to Landlord by Tenant under this Lease (including, without limitation, any sums payable to Landlord under any
addendum, exhibit or schedule attached hereto) shall constitute rent and are sometimes collectively referred to as "Rent".
Each payment of Rent shall be paid by Tenant when due, without prior demand therefor and without deduction or setoff.


 


SECTION
2.4               LATE
CHARGES; INTEREST RATE. If any Rent under this Lease shall not be paid within five (5) days of the date such payment is due,
a "Late Charge" of five percent (5%) of the payment then overdue may be charged by Landlord to defray Landlord's
administrative expense incident to the handling of such overdue payments. Furthermore, any amount due from Tenant to Landlord which
is not paid within ten (10) days after the date due shall bear interest at the lower of (i) twelve percent (12%) per annum
or (ii) the highest rate from time to time allowed by applicable law, from the date such payment is due until paid.


 


ARTICLE
3

SECURITY DEPOSIT


 


If a Security Deposit is specified in the Basic
Lease Information, Tenant will pay Landlord on the Date of Lease such Security Deposit as security for the performance of the terms
hereof by Tenant. Tenant shall not be entitled to interest thereon and Landlord may commingle such Security Deposit with any other
funds of Landlord. The Security Deposit shall not be considered an advance payment of rental or a measure of Landlord's damages
in case of default by Tenant. If a default by Tenant shall occur under this Lease, Landlord may, but shall not be required to,
from time to time, without prejudice to any other remedy, use, apply or retain all or any part of this Security Deposit for the
payment of any Rent or any other sum in default or to compensate Landlord for any other loss or damage which Landlord may suffer
by reason of Tenant's default, including, without limitation, costs and attorneys' fees incurred by Landlord to recover possession
of the Premises. If Landlord shall use, apply or retain all or any part of the Security Deposit as provided for above, Tenant shall
restore the Security Deposit to the amount set forth in the Basic Lease Information within thirty (30) days after receipt of notice
from Landlord. If Tenant shall fully and faithfully perform every provision of this Lease to be performed by it, including an end
of Term walk through with the Landlord, the Security Deposit shall be returned to Tenant within thirty (30) days after the Expiration
Date.


 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two 


Date: March 2015


 




    	6



    	 



    

  


ARTICLE 4


OCCUPANCY AND USE


 


SECTION 4.1               USE
OF PREMISES.


 


		4.1.1	General. The Premises shall, subject to the remaining provisions of this Section, be used
solely for the Permitted Use. Without limiting the foregoing, Tenant shall comply with all laws, statutes, ordinances, orders,
permits and regulations affecting Tenant's use and occupancy of the Premises. Tenant will not do or permit anything which may disturb
the quiet enjoyment of any other tenant of the Property. Tenant shall not permit the occupancy of the Premises to exceed a ratio
of more than one (1) person per 200 square feet of Premises Rentable Area. 4.1.2  Landlord's Compliance Obligation.
Landlord shall comply with all laws, statutes, ordinances, orders and regulations relating to the Property (exclusive, however,
of those with which Tenant is obligated to comply by reason of subsection 4.1.1) as of the Date of Lease. Landlord shall also
be responsible for causing the Common Areas to be in compliance with the Disability Acts.



 


		4.1.3	Hazardous and Toxic Materials.



 


		(a)	For purposes of this Lease, hazardous or toxic materials shall mean asbestos containing materials
and all other materials, substances, wastes and chemicals classified as hazardous or toxic substances, materials, wastes or chemicals
(individually and collectively, "Hazardous or Toxic Materials") under then-current applicable governmental laws,
rules or regulations or that are subject to any right-to-know laws or requirements (individually and collectively, "Environmental
Laws").



 


		(b)	Tenant shall not knowingly incorporate into, or use or otherwise place or dispose of at the Premises
or any other portion of the Property, any Hazardous or Toxic Materials, except for use and storage of cleaning and office supplies
used in the ordinary course of Tenant's business and then only if (i) such materials are in small quantities, properly labeled
and contained, and (ii) such materials are handled and disposed of in accordance with the highest accepted industry standards for
safety, storage, use and disposal. If Tenant or its employees, agents or contractors shall ever violate the provisions of paragraph
(b) of this subsection 4.1.3 or otherwise contaminate the Premises or the Property, then, at Landlord's election, either Tenant
or Landlord shall clean, remove and dispose of the material causing the violation, in compliance with all applicable governmental
standards, laws, rules and regulations and then prevalent industry practice and standards (the "Remediation Work").
In the event Tenant performs such work, Tenant shall repair any damage to the Premises or the Property (collectively with the Remediation
Work, "Tenant's Environmental Corrective Work") in such period of time as may be reasonable under the circumstances
after written notice by Landlord. In the event Landlord performs the Tenant's Environmental Corrective Work, within thirty (30)
days after receiving an invoice, Tenant shall reimburse Landlord for the costs incurred by Landlord to perform such Tenant's Environmental
Corrective Work. Tenant's obligations under this subsection 4.1.3(b) shall survive the expiration or earlier termination of this
Lease.



 


		(c)	Landlord has no current knowledge of the presence of, and Landlord shall not knowingly dispose
of at the Premises or any other portion of the Property, any Hazardous or Toxic Materials that would materially and adversely affect
Tenant's access, use or occupancy of the Premises or otherwise pose any material risk or material threat to the health, safety
or welfare of Tenant or any of its employees or guests.



 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two 


Date: March 2015


 




    	7



    	 



    

  


SECTION
4.2          RULES
AND REGULATIONS. Tenant will comply with all rules and regulations applying to tenants in the Building and the Garage (the
"Rules and Regulations") as may be adopted and uniformly applied from time to time by Landlord for (a) the management,
safety, care and cleanliness of, and the preservation of good order and protection of property in, the Premises and the Building
and at the Property, (b) the increase in energy efficiency of the Building and the Property, (c) the decrease in the use of natural
resources in the Building and the Property or the waste of the same, (d) recycling of reusable items, and (e) such other goals
which result in the decrease in the carbon footprint of the Building and the Property. Landlord reserves the right, without approval
from Tenant, to rescind, supplement and amend any Rules and Regulations and to waive any Rules and Regulations with respect to
any tenant or tenants so long as any change in the Rules and Regulations does not diminish the rights granted to Tenant in this
Lease. The Rules and Regulations in effect on the date hereof are attached hereto as Exhibit C and included in Exhibit
F to this Lease. All changes and amendments to the Rules and Regulations sent by Landlord to Tenant in writing and conforming
to the foregoing standards shall be carried out and observed by Tenant. In the event of any conflict between the Rules and Regulations
and the provisions of this Lease, the provisions of this Lease shall prevail. Landlord hereby reserves all rights necessary to
implement and enforce the Rules and Regulations.


 


SECTION
4.3          ACCESS.
Without being deemed guilty of an eviction of Tenant and without abatement of Rent, Landlord and its authorized agents shall have
the right to enter the Premises during Normal Business Hours upon reasonable notice to Tenant, which notice may be oral, to inspect
the Premises, to show the Premises to prospective lenders or purchasers, and to fulfill Landlord's obligations or exercise its
rights [including without limitation Landlord's Reserved Right (as hereinafter defined)] under this Lease and, upon Landlord's
receipt with a notice of non-renewal from Tenant and in any event during the last six (6) months of the Term, to show the Premises
to prospective tenants. Landlord shall have the right to use any and all means which Landlord may deem proper to enter the Premises
in an emergency. Tenant hereby waives any claim for damages for any injury or inconvenience to or interference with Tenant's business,
any loss of occupancy or quiet enjoyment of the Premises and any other loss occasioned thereby. Landlord shall at all times have
and retain a key with which to unlock the doors to and within the Premises, excluding Tenant's vaults and safes.


 


SECTION
4.4          QUIET
POSSESSION. Provided Tenant timely pays Rent and performs all of the covenants, conditions and provisions on Tenant's part
to be performed hereunder, Tenant shall have the quiet possession of the Premises for the entire Term hereof, subject to all of
the provisions of this Lease.


 


SECTION
4.5          PERMITS.
Landlord shall obtain the certificate of occupancy (or its equivalent), if any, required for Tenant's occupancy of the Premises
following construction of Tenant's Improvements. If any additional governmental license or permit shall be required for the proper
and lawful conduct of Tenant's business in the Premises or any part thereof, Tenant, at its expense, shall procure and thereafter
maintain such license or permit. Additionally, if any subsequent alteration or improvement is made to the Premises by Tenant, Tenant
shall, at its expense, take all actions to procure any such modification or amendment or additional permit.


 


ARTICLE
5

UTILITIES AND SERVICES


 


SECTION
5.1          SERVICES
TO BE PROVIDED. 


 


Landlord agrees to furnish to the Premises
the utilities and services described in subsections 5.1.1 through 5.1.7 below. As used in this Lease, "Normal Business
Hours" shall mean 7:00 A.M. to 7:00 P.M. Monday through Friday, and 8:00 A.M. to 1:00 P.M. Saturday, except for New Year's
Day, Memorial Day, July 4, Labor Day, Thanksgiving Day and Christmas Day and any other national holiday observed by most businesses
in the same market area as the Building.


 


		5.1.1	Elevator Service. Landlord shall provide automatic elevator facilities during Normal Business
Hours, except during emergencies, and shall have at least one (1) elevator available for use at all other times.



 


		5.1.2	Heat and Air Conditioning. During Normal Business Hours, Landlord shall ventilate the Premises
and furnish heat or air conditioning, at such temperatures and in such amounts as is customary in buildings of comparable size
and quality to, and in the general vicinity of, the Building, with such adjustments as may be reasonably necessary for the comfortable
occupancy of the Premises, subject to events of force majeure and any governmental requirements, ordinances, rules, regulations,
guidelines or standards relating to, among other things, energy conservation. Upon reasonable advance request from Tenant, Landlord
shall make available to the Premises, at Tenant's expense, heat or air conditioning during periods in addition to Normal Business
Hours. Tenant shall submit to Landlord a list of all personnel who are authorized to make such requests. During the first twelve
(12) months of the initial Term of the Lease, the minimum charge and the hourly rate for the use of after-hours heat or air conditioning
shall be $50.00 per hour per floor with a two (2) hour minimum. Thereafter the charge may be increased from time to time by Landlord
in response to cost increases in providing such additional service.



 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two 


Date: March 2015


 




    	8



    	 



    

  


		5.1.3	Electricity.



 


		(a)	Landlord shall furnish electrical power for heating and air-conditioning services as described
in subsection 5.1.2 and for lighting, including Tenant's lighting and office equipment as described herein.  Landlord shall
use commercially reasonable efforts to furnish such electrical power in a cost-effective and environmentally responsible manner
using environmentally responsible equipment, fixtures and supplies.  Landlord shall furnish to the Premises electrical power
for Tenant's lighting in compliance with the governing energy code. Additionally, Landlord shall furnish 120 volt power to the
Premises for electrical outlets to operate Tenant's standard office equipment and the equipment to be installed in the Premises
pursuant to the Tenant's Improvements (as defined in the Work Letter). Any additional electrical power required above 120 volts
will be considered excess electrical consumption ("Excess Electrical Consumption") and will be separately measured
by Submeters ("Submeters") at Tenant's expense.  The actual cost of such electrical usage as measured by
such Submeters ("Excess Electrical Cost", as hereinafter defined) shall be paid by Tenant. Landlord agrees that Tenant
may operate dedicated data/server rooms within the Premises and that all electrical usage of such rooms requiring supplemental
air will be separately submetered at Tenant's expense and the electrical usage, as measured by such Submeters shall be paid by
Tenant as Excess Electrical Cost.  Furthermore, in the event more than one third (1/3) of the Premises Rentable Area is at
any time improved with cubicles, the Tenant's Improvements shall include the installation of a transformer and an electrical panel.



 


		(b)	Landlord may, from time to time, engage a reputable consultant to conduct a survey of electrical
usage within the Premises (a "Consumption Survey") or install one or more submeters ("Submeters")
to measure electrical usage within the Premises or a particular floor of the Premises. If the Consumption Survey or Submeters reflect
Excess Electrical Consumption, then (i) Tenant shall be responsible for the costs of the Consumption Survey and/or Submeters,
(ii) Tenant shall pay to Landlord, as Rent, the product of (A) the kilowatts of Excess Electrical Consumption during the period
in question times (B) the cost per kilowatt of electricity charged to Landlord by the public utility for electricity consumed at
the Property during such period (such product is herein called the "Excess Electrical Cost"), and (iii) Landlord
shall have the right to install, at Tenant's expense, permanent Submeters to measure the electrical consumption within the Premises.
If Landlord installs permanent Submeters as permitted hereunder, Tenant shall, from time to time thereafter within ten (10) days
after receiving an invoice from Landlord, pay to Landlord any Excess Electrical Cost reflected by such Submeters and all costs
incurred by Landlord to maintain, repair and read the Submeters.



 


		5.1.4	Water. Landlord shall furnish cold water for drinking and cleaning and hot and cold water
for lavatory and kitchen (if applicable) purposes only, at the points of supply generally provided in the Building.



 


		5.1.5	Janitorial Services. Landlord shall provide janitorial services to the occupied portion
of the Premises comparable to that provided in other offices of similar size and quality to, and in the general vicinity of, the
Building.



 


		5.1.6	Common Areas. Landlord shall perform routine maintenance in the Common Areas.



 


		5.1.7	Bulbs and Ballasts. As necessary, Landlord shall provide bulbs and ballasts for the lighting
fixtures in the Premises which are standard for the Building. Landlord shall also provide bulbs and ballasts for fixtures which
are not standard for the Building ("Non-Building Standard"), provided Tenant shall pay Landlord's standard charge
therefor. All amounts due under this Section for such Non-Building Standard bulbs and ballasts shall be paid to Landlord within
thirty (30) days after receipt of an invoice therefor.



 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two 


Date: March 2015


 




    	9



    	 



    

  


SECTION
5.2          ADDITIONAL
SERVICES. In addition to the charges set forth in subsections 5.1.2 and 5.1.3(b), Landlord may impose a reasonable charge for
any other services provided by Landlord by reason of any use of the services at any time other than Normal Business Hours or beyond
the levels or quantities that Landlord agrees herein to furnish.


 


SECTION
5.3          SERVICE
INTERRUPTION. 


 


		5.3.1	Service Interruption/Waiver of Landlord Liability. Landlord shall not be liable for and,
except as provided in subsection 5.3.2 below, Tenant shall not be entitled to any abatement or reduction of Rent by reason
of, interruption of any of the foregoing services when such interruption is caused by circumstances beyond Landlord's reasonable
control, nor shall any such interruption be construed as an eviction (constructive or actual) of Tenant or as a breach of the implied
warranty of suitability, or relieve Tenant from the obligation to perform any covenant or agreement herein and in no event shall
Landlord be liable for damage to persons or property (including, without limitation, business interruption), or be in default hereunder,
as a result of any such interruption or results or effects thereof.



 


		5.3.2	Limited Right to Abatement of Rent. If any portion of the Premises becomes unfit for occupancy
because of any interruption of the services required under subsections 5.1.1 through 5.1.4 above and provided such failure
is not caused by Tenant, Tenant's Contractors (as defined in Exhibit D) or any of their respective agents or employees,
and if the Premises remain unfit for occupancy and are actually unoccupied because of such failure for any period (other than a
reconstruction period conducted pursuant to Section 7.1 or Article 8 below) exceeding three (3) consecutive
business days after written notice by Tenant to Landlord, Tenant shall be entitled to a fair partial abatement of Basic Annual
Rent and Additional Rent for any such portion of the Premises from the expiration of such three (3) business day period until such
portion is again fit for occupancy.



 


SECTION
5.4          TELECOMMUNICATION
EQUIPMENT. In the event that Tenant wishes at any time to utilize the services of a telephone or telecommunications provider
whose equipment is not then servicing the Building, no such provider shall be permitted to install its lines or other equipment
within the Building without first securing the prior written approval of Landlord, which approval shall not be unreasonably withheld,
delayed, or conditioned..


 


ARTICLE
6

MAINTENANCE, REPAIRS, ALTERATIONS AND IMPROVEMENTS


 


SECTION
6.1          LANDLORD'S
OBLIGATION TO MAINTAIN AND REPAIR. Landlord shall maintain the foundation, floor and ceiling slabs, roof, curtain wall, exterior
glass and mullions, columns, beams, shafts (including elevator shafts), all Common Areas, Service Corridors and Service Areas (collectively
the "Building Structure"; all as defined in Section 15.5) and core Building mechanical, electrical, life
safety, plumbing, sprinkler systems and core HVAC systems (collectively, the "Building Systems") in first class
condition and repair and shall operate the Building in a manner comparable to similar office buildings in the area. Notwithstanding
anything in this Lease to the contrary, Tenant shall be neither required nor permitted to make any repair to, modification of,
or addition to the Building Structure and/or the Building Systems except to the extent required (and after prior written approval
by Landlord using contractors approved in writing by Landlord) because of Tenant's use of all or a portion of the Premises for
other than normal and customary business office operations. Except for the elements of the Building described herein, Landlord
shall not be required to maintain or repair any portion of the Premises.


 


SECTION
6.2          TENANT'S
OBLIGATION TO MAINTAIN AND REPAIR. 


 


		6.2.1	Tenant's Obligation. Tenant shall, at Tenant's sole cost and expense, (i) maintain
and keep the Premises (including, but not limited to, all fixtures, walls, ceilings, floors, doors, windows [except replacement
of exterior plate glass], appliances, supplemental HVAC units, data and phone cables, satellite dishes, antennas and any and all
other equipment which is a part of or serves the Premises) in good repair and condition, ordinary wear and tear excepted, and (ii) repair
or replace any damage or injury done to the Building or any other part of the Property caused by Tenant, Tenant's agents, employees,
licensees, invitees or visitors. All repairs and replacements performed by or on behalf of Tenant shall be performed diligently,
in a good and workmanlike manner and in accordance with applicable governmental laws, rules, and regulations.



 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two 


Date: March 2015


 




    	10



    	 



    

  


		6.2.2	Rights of Landlord. In the event Tenant fails, in the reasonable judgment of Landlord, to
maintain and repair the Premises in good order, condition and repair, Landlord shall, upon not less than three (3) business days'
notice to Tenant (except in the event of an emergency, in which event only such notice as is reasonable under the circumstances
shall be required), have the right to perform such maintenance, repairs and replacements, and Tenant shall pay Landlord, as additional
Rent, the cost thereof plus a management fee of five percent (5%) of such cost.



 


SECTION
6.3          IMPROVEMENTS
AND ALTERATIONS. 


 


		6.3.1	Landlord's Construction Obligations. Landlord's sole obligations under this Lease are as
set forth in Exhibit D attached hereto.



 


		6.3.2	Alteration of Building. Landlord shall have the right to repair, change, redecorate, alter,
improve, modify, renovate, enclose or make additions to any part of the Property (including, without limitation, structural elements
and load bearing elements within the Premises and to enclose and/or change the arrangement and/or location of driveways or parking
areas or landscaping or other Common Areas of the Property), all without being held guilty of an actual or constructive eviction
of Tenant or breach of the implied warranty of suitability and without an abatement of Rent (the "Reserved Right").
When exercising the Reserved Right, Landlord will interfere with Tenant's use and occupancy of the Premises as little as is reasonably
practicable.



 


		6.3.3	Alterations and Installations by Tenant. Tenant shall not, without the prior written consent
of Landlord, not to be unreasonably withheld, make any alterations to, or install any equipment or machinery of any kind (other
than office equipment and unattached personal property) in the Premises (all such alterations are herein collectively referred
to as "Installations"). All work performed by Tenant or its contractor relating to the Installations shall be
performed diligently and in a good and workmanlike manner, and shall conform to applicable governmental laws, rules and regulations,
Landlord's insurance requirements and all rules for performing work in the Building. Upon completion of the Installations, Tenant
shall deliver to Landlord "as built" plans in a format acceptable to Landlord. If Landlord performs any Installations
after completion of the Tenant's Improvements (as defined in the Work Letter), Tenant shall pay Landlord, as Rent, the cost thereof
plus a construction management fee of five percent (5%) of such cost; provided, however, the Construction Management Fee (as defined
in the Work Letter) shall apply to the initial Tenant's Improvements. All Installations that constitute improvements constructed
within the Premises shall be surrendered with the Premises at the expiration or earlier termination of this Lease, unless prior
to construction of the Installations and as a condition of Landlord's approval thereof, Landlord requires that some or all of the
Installations be removed by Tenant at Tenant's sole cost and expense upon termination or expiration of this Lease. TENANT SHALL
DEFEND, INDEMNIFY AND HOLD HARMLESS LANDLORD FROM AND AGAINST ANY AND ALL COSTS, EXPENSES (INCLUDING REASONABLE ATTORNEYS' FEES),
DEMANDS, CLAIMS, CAUSES OF ACTION AND LIENS ARISING FROM OR IN CONNECTION WITH ANY INSTALLATIONS PERFORMED BY OR ON BEHALF OF TENANT
BY TENANT'S CONTRACTORS. Landlord will have the right to periodically inspect the work on the Premises and may require changes
in the method or quality of the work if necessary to cause the work to comply with the requirements of this Lease.



 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two 


Date: March 2015


 




    	11



    	 



    

  


ARTICLE
7


 


INSURANCE AND CASUALTY


 


SECTION 7.1          TOTAL
OR PARTIAL DESTRUCTION OF THE BUILDING, THE GARAGE OR THE PREMISES.


 


		(a)	Total Destruction. If the Building or the Garage should be totally destroyed by fire or
other casualty or if either the Building, the Garage (or any portion thereof) or the Premises should be so damaged that rebuilding
or repairs cannot be completed, in Landlord's reasonable opinion, within one hundred eighty (180) days after commencement of repairs
to the Building, the Garage or the Premises, as applicable, Landlord shall within thirty (30) days of the casualty provide written
notice of its opinion to Tenant, and either Landlord or Tenant may, at its option, terminate this Lease, in which event Basic Annual
Rent and Additional Rent shall be abated during the unexpired portion of this Lease effective as of the date of such damage. Landlord
shall exercise the termination right pursuant to the preceding sentence, if at all, by delivering written notice of termination
to Tenant within ten (10) days after determining that the repairs cannot be completed within one hundred eighty (180) days. Tenant
shall exercise its termination right pursuant to this Section 7.1(a), if at all, by delivering written notice of termination to
Landlord within ten (10) days after being advised by Landlord that the repairs cannot be completed within one hundred eighty (180)
days or that the Premises will be unfit for occupancy or inaccessible by reasonable means for at least one hundred eighty (180)
days after commencement of repairs to the Building.



 


		(b)	Partial Destruction; Failure to Terminate. If the Building or the Garage and/or the Premises
should be partially destroyed by fire or other casualty or if the Building or the Garage and/or the Premises is completely destroyed
and neither Landlord nor Tenant elects to terminate this Lease pursuant to subsection 7.1(a), then Landlord shall promptly commence
(and thereafter pursue with reasonable diligence) preparation of the plans and specifications for the repair of the Building, the
Garage and/or the Premises (including Tenant's Improvements except as set forth in the next sentence) and thereafter diligently
pursue repairing the Building, the Garage and/or the Premises to substantially the same condition which existed immediately prior
to the occurrence of the casualty. To the extent the Tenant's Improvements include any items required to be insured by Tenant under
subsection 7.2.1(b) below, Landlord shall have the obligation to repair such items only to the extent the proceeds of such insurance
are disbursed to Landlord for such repair.



 


		(c)	Limitation on Landlord's Obligations; Abatement of Rent. In no event shall Landlord be required
to rebuild, repair or replace any part of the furniture, equipment, fixtures, inventory, supplies or any other personal property
or any other improvements (except Tenant's Improvements to the extent set forth in subsection (b) above), which may have been placed
by Tenant within the Building, the Garage or the Premises. Landlord shall allow Tenant a fair diminution of Basic Annual Rent and
Additional Rent during the time the Premises are unfit for occupancy; provided, however, if the casualty in question was caused
by Tenant, its agents, employees, licensees or invitees, Basic Annual Rent and Additional Rent shall be abated only to the extent
Landlord is compensated for such Basic Annual Rent and Additional Rent by loss of rents insurance, if any.



 


		(d)	Termination Resulting from Mortgagee's Use of Proceeds. Notwithstanding Landlord's restoration
obligation, in the event any mortgagee under a deed of trust or mortgage on the Building and the Garage should require that the
insurance proceeds be used to retire or reduce the mortgage debt or if the insurance company issuing Landlord's fire and casualty
insurance policy fails or refuses to pay Landlord the proceeds under such policy, Landlord shall have no obligation to rebuild
and this Lease shall terminate upon notice by Landlord to Tenant.



 


		(e)	Insurance Proceeds. Any insurance which may be carried by Landlord or Tenant against loss
or damage to the Building, the Garage or the Premises shall be for the sole benefit of the party carrying such insurance and under
its sole control.



 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two 


Date: March 2015


 




    	12



    	 



    

  


SECTION 7.2           TENANT'S
INSURANCE.


 


		7.2.1	Types of Coverage. From and after the date of this Lease, Tenant will carry, at its expense,
the insurance set forth in paragraphs (a), (b), and (c) of this subsection.



 


		(a)	Commercial General Liability Insurance. Commercial General Liability Insurance covering
the Premises and Tenant's use thereof against claims for personal or bodily injury or death or property damage occurring upon,
in or about the Premises (including contractual indemnity and liability coverage), such insurance to provide coverage of not less
than $2,000,000.00 per occurrence and $2,000,000.00 annual aggregate, with a deductible reasonably acceptable to Landlord. All
insurance coverage required under this subsection (a) shall extend to any liability of Tenant arising out of the indemnities provided
for in this Lease to the extent such indemnity would be covered by commercial general liability insurance. Additionally, each such
policy of insurance required under this subsection shall expressly insure Tenant and, as additional insureds, both Landlord and
Property Manager.



 


		(b)	Property Insurance. Property insurance on an all-risk basis (including coverage against
fire, wind, tornado, vandalism, malicious mischief, water damage and sprinkler leakage) covering all tenant owned fixtures, equipment
and leasehold improvements, and other personal property located in the Premises and endorsed to provide one hundred percent (100%)
replacement cost coverage. Such policy will be written in the name of Tenant. The property insurance may, with the consent of the
Landlord, provide for a reasonable deductible.



 


		(c)	Workers Compensation' and Employer's Liability Insurance. Worker's compensation insurance
together with employer's liability insurance in an amount at least $1,000,000.00.



 


		(d)	Hired and Non-Owned Auto Liability Insurance. Hired and Non-Owned Auto Liability Insurance
covering Tenant and its employees and agents in an amount of at least $500,000 per occurrence.



 


		7.2.2	Other Requirements of Insurance. All such insurance will be issued and underwritten by companies
with an AM Best rating of A- ("A minus") or better and will contain endorsements that (a) such insurance may not lapse
with respect to Landlord or Property Manager or be canceled or amended with respect to Landlord or Property Manager without the
insurance company giving Landlord and Property Manager at least thirty (30) days prior written notice of such cancellation or amendment,
(b) Tenant will be solely responsible for payment of premiums, (c) in the event of payment of any loss covered by such policy,
Landlord or Landlord's designees will be paid first by the insurance company for Landlord's loss, and (d) Tenant's insurance
is primary in the event of overlapping coverage which may be carried by Landlord.



 


		7.2.3	Proof of Insurance. Within fifteen (15) days after the Effective Date of this Lease, but
in any event prior to the Commencement Date, Tenant shall deliver to Landlord duly executed, original certificates of such insurance
evidencing in-force coverage. Further, at least fifteen (15) days prior to the expiration of the policy in question, Tenant shall
deliver to Landlord a duly executed, original certificate of insurance evidencing the renewal of each insurance policy required
to be maintained by Tenant hereunder.



 


SECTION 7.3          LANDLORD'S
INSURANCE.


 


		7.3.1	Property Insurance. From and after the date of this Lease, Landlord will carry a policy
or policies of all risk extended coverage insurance covering the Property (excluding property required to be insured by Tenant)
endorsed to provide replacement cost coverage and providing protection against perils included within the standard Texas form of
fire and extended coverage insurance policy, together with insurance against sprinkler damage, vandalism, malicious mischief and
such other risks as Landlord may from time to time determine and with any such deductibles as Landlord may from time to time determine.



 


		7.3.2	Commercial General Liability Insurance. Landlord will carry Commercial General Liability
policy or policies covering the Building against claims for personal or bodily injury, or death, or property damage resulting from
the negligence of the Landlord or Property Manager or their agents, occurring upon, in or about the Building to afford protection
to the limit of not less than $2,000,000 per occurrence, and $2,000,000 annual aggregate. This insurance coverage shall extend
to any liability of Landlord arising out of the indemnities provided for in this Lease.



 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two 


Date: March 2015


 




    	13



    	 



    

  


		7.3.3	Other Requirements. Any insurance provided for in this Section 7.3 may be affected
by self-insurance or by a policy or policies of blanket insurance covering additional items or locations or assureds, provided
that the requirements of this Section 7.3 are otherwise satisfied. Tenant shall have no rights in any policy or policies
maintained by Landlord.



 


SECTION 7.4          WAIVER
OF SUBROGATION. LANDLORD AND TENANT EACH HEREBY WAIVES ANY RIGHTS IT MAY HAVE AGAINST THE OTHER (INCLUDING, BUT NOT LIMITED
TO, A DIRECT ACTION FOR DAMAGES) ON ACCOUNT OF ANY LOSS OR DAMAGE OCCASIONED TO LANDLORD OR TENANT, AS THE CASE MAY BE (EVEN IF
SUCH LOSS OR DAMAGE IS CAUSED BY THE FAULT, NEGLIGENCE OR OTHER TORTIOUS CONDUCT, ACTS OR OMISSIONS OF THE RELEASED PARTY OR THE
RELEASED PARTY'S DIRECTORS, EMPLOYEES, AGENTS OR INVITEES OR IF THE RELEASED PARTY OR THE RELEASED PARTY'S DIRECTORS, EMPLOYEES,
AGENTS OR INVITEES WOULD OTHERWISE BE LIABLE UNDER STRICT LIABILITY), TO THEIR RESPECTIVE PROPERTY, THE PREMISES, ITS CONTENTS
OR TO ANY OTHER PORTION OF THE BUILDING OR THE PROPERTY ARISING FROM ANY RISK (WITHOUT REGARD TO THE AMOUNT OF COVERAGE OR THE
AMOUNT OF DEDUCTIBLE) COVERED BY THE ALL RISK FULL REPLACEMENT COST PROPERTY INSURANCE REQUIRED TO BE CARRIED BY TENANT AND LANDLORD,
RESPECTIVELY, UNDER SUBSECTION 7.2.1 AND SUBSECTION 7.3.1 ABOVE.  The foregoing waiver shall be effective even if either
or both parties fail to carry the insurance required by subsection 7.2.1 and subsection 7.3.1 above. If a party waiving rights
under this Section 7.4 is carrying an all risk full replacement cost insurance policy in the promulgated form used in the
State of Texas and an amendment to such promulgated form is passed, such amendment shall be deemed not a part of such promulgated
form until it applies to the policy being carried by the waiving party. Without limiting the foregoing waivers and to the extent
permitted by applicable law, each of the parties hereto, on behalf of their respective insurance companies insuring the property
of such party against loss, waive any right of subrogation that such party or Property Manager or its respective insurers may have
against the other party or its respective officers, directors, employees, agents or invitees and all rights of their respective
insurance companies based upon an assignment from its insured. Each party to this Lease agrees immediately to give to each such
insurance company written notification of the terms of the mutual waivers contained in this Section and to have its insurance policies
properly endorsed, if necessary, to prevent the invalidation of insurance coverage by reason of such waivers.


 


SECTION 7.5          TENANT'S
GENERAL INDEMNITY. TENANT WILL DEFEND, INDEMNIFY, AND HOLD HARMLESS LANDLORD, PROPERTY MANAGER, AND THEIR RESPECTIVE OFFICERS,
DIRECTORS, EMPLOYEES AND AGENTS FROM AND AGAINST ALL CLAIMS, DEMANDS, ACTIONS, DAMAGES, LOSS, LIABILITIES, JUDGMENTS, COSTS AND
EXPENSES, INCLUDING WITHOUT LIMITATION, ATTORNEYS' FEES AND COURT COSTS (EACH, A "LANDLORD CLAIM") WHICH ARE SUFFERED
BY, RECOVERED FROM OR ASSERTED AGAINST LANDLORD OR PROPERTY MANAGER AND ARISE FROM OR IN CONNECTION WITH (I) THE USE OR OCCUPANCY
OF THE PREMISES, (II) ANY ACCIDENT, INJURY OR DAMAGE OCCURRING IN OR AT THE PREMISES, OR (III) ANY BREACH BY TENANT OF ANY REPRESENTATION
OR COVENANT IN THIS LEASE, INCLUDING WITHOUT LIMITATION, TENANT'S FAILURE TO COMPLY WITH ALL APPLICABLE LAWS. TENANT'S INDEMNITY
AND HOLD HARMLESS OBLIGATIONS SHALL APPLY EVEN IN THE EVENT OF THE FAULT OR NEGLIGENCE OF THE PARTIES INDEMNIFIED AND HELD HARMLESS
HEREUNDER TO THE FULLEST EXTENT PERMITTED BY LAW, BUT IN NO EVENT SHALL THEY APPLY TO LIABILITY CAUSED BY THE WILLFUL MISCONDUCT
OR SOLE NEGLIGENCE OF THE PARTIES INDEMNIFIED OR HELD HARMLESS. FURTHER, SUCH INDEMNIFICATION SHALL NOT INCLUDE ANY LANDLORD CLAIM
WAIVED BY LANDLORD UNDER SECTION 7.4 ABOVE.


 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two 


Date: March 2015


 




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SECTION 7.6          LANDLORD'S
GENERAL INDEMNITY. LANDLORD WILL DEFEND, INDEMNIFY AND HOLD HARMLESS TENANT AND ITS OFFICERS, DIRECTORS, EMPLOYEES AND AGENTS
FROM AND AGAINST ALL CLAIMS, DEMANDS, ACTIONS, DAMAGES, LOSS, LIABILITIES, JUDGMENTS, COSTS AND EXPENSES, INCLUDING WITHOUT LIMITATION,
ATTORNEY'S FEES AND COURT COSTS (EACH, A "TENANT CLAIM") WHICH ARE SUFFERED BY, RECOVERED FROM OR ASSERTED AGAINST
TENANT AND ARISE FROM OR IN CONNECTION WITH (I) ANY ACCIDENT, INJURY OR DAMAGE OCCURRING IN OR AT THE PROPERTY (OTHER THAN IN THE
PREMISES), OR (II) ANY BREACH BY LANDLORD OF ANY REPRESENTATION OR COVENANT IN THIS LEASE. LANDLORD'S INDEMNITY AND HOLD HARMLESS
OBLIGATIONS SHALL APPLY EVEN IN THE EVENT OF THE FAULT OR NEGLIGENCE OF THE PARTIES INDEMNIFIED AND HELD HARMLESS HEREUNDER TO
THE FULLEST EXTENT PERMITTED BY LAW, BUT IN NO EVENT SHALL THEY APPLY TO LIABILITY CAUSED BY THE WILLFUL MISCONDUCT OR SOLE NEGLIGENCE
OF THE PARTIES INDEMNIFIED OR HELD HARMLESS. FURTHER, SUCH INDEMNIFICATION SHALL NOT INCLUDE ANY TENANT CLAIM WAIVED BY TENANT
UNDER SECTION 7.4. 


 


ARTICLE
8

CONDEMNATION


 


If the Property or any portion thereof, including
common and parking areas, that, in Landlord's or Tenant's reasonable opinion, is necessary to the continued efficient and/or economically
feasible use of the Property or the Premises shall be taken or condemned for public purposes, or sold to a condemning authority
in lieu thereof, then either party may, at its option, terminate this Lease on the effective date of such taking by delivering
written notice thereof to the other party on or before ten (10) days after the effective date of the taking, condemnation or sale
in lieu thereof. If neither Landlord nor Tenant elects to exercise such termination right, then this Lease shall continue in full
force and effect, provided that if the taking, condemnation or sale includes any portion of the Premises, the Basic Annual Rent
and Additional Rent shall be redetermined on the basis of the remaining square feet of Premises Rentable Area. Landlord, at Landlord's
sole option and expense, shall restore and reconstruct the Building to substantially its former condition to the extent that the
same may be reasonably feasible, but such work shall not be required to exceed the scope of the work done by Landlord in originally
constructing the Building. Landlord shall receive the entire award (which shall include sales proceeds) payable as a result of
a condemnation, taking or sale in lieu thereof. Tenant shall, however, have the right to recover from such authority through a
separate award which does not reduce Landlord's award, any compensation as may be awarded to Tenant on account of moving and relocation
expenses and depreciation and removal of Tenant's physical property.


 


ARTICLE
9

LIENS


 


Tenant shall keep the Premises and the Property
free from all liens arising out of any work performed, materials furnished or obligations incurred by or for Tenant, and Tenant
shall defend indemnify and hold harmless Landlord from and against any and all claims, causes of action, damages and expenses (including
reasonable attorneys' fees) arising from or in connection with any such liens. If Tenant shall not, within ten (10) days following
notification to Tenant of the imposition of any such lien, cause the same to be released of record by payment or the posting of
a bond in amount, form and substance acceptable to Landlord, Landlord shall have, in addition to all other remedies provided herein
and by law, the right but not the obligation, to cause the same to be released by such means as it shall deem proper, including
payment of or defense against the claim giving rise to such lien. All amounts paid or incurred by Landlord in connection therewith
shall be paid by Tenant to Landlord on demand and shall bear interest from the date of demand until paid at the rate set forth
in Section 2.4 above.


 


ARTICLE
10

TAXES ON TENANT'S PROPERTY


 


Tenant shall be liable for and shall pay, prior
to their becoming delinquent, any and all taxes and assessments levied against any personal property or trade or other fixtures
placed by Tenant in or about the Premises.


 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two 


Date: March 2015


 




    	15



    	 



    

  


ARTICLE
11

SUBLETTING AND ASSIGNING


 


SECTION
11.1          SUBLEASE
AND ASSIGNMENT. Except as otherwise permitted herein and by Section 11.2 and Section 11.3 below, Tenant
shall not assign this Lease, or allow it to be assigned, in whole or in part, by operation of law or otherwise (it being agreed
that for purposes of this Lease, assignment shall include, without limitation, the transfer of a majority interest of stock, partnership
or other forms of ownership interests, merger or dissolution) or mortgage or pledge the same, or sublet the Premises or any part
thereof or permit the Premises to be occupied by any individual or business entity, or any combination thereof, other than Tenant,
without the prior written consent of Landlord which shall not be unreasonably withheld, delayed, or conditioned. Notwithstanding
any subletting or assignment by Tenant hereunder or any provision herein to the contrary, Tenant shall remain fully liable for
the performance of all the covenants, agreements, terms, provisions and conditions contained in this Lease on the part of Tenant
to be performed. No assignee or subtenant of the Premises or any portion thereof may assign or sublet the Premises or any portion
thereof. Any assignment made by Tenant shall contain a covenant of assumption by the assignee running to Landlord. All reasonable
legal fees and expenses incurred by Landlord in connection with any assignment or sublease proposed by Tenant will be paid by Tenant
within thirty (30) days of receipt of an invoice from Landlord.


 


SECTION
11.2          LANDLORD'S
RIGHTS. If Tenant desires to sublease any portion of the Premises or assign this Lease, Tenant shall submit to Landlord (a) in
writing, the name of the proposed subtenant or assignee, the nature of the proposed subtenant's or assignee's business and, in
the event of a sublease, the portion of the Premises which Tenant desires to sublease, (b) a current balance sheet and income
statement for such proposed subtenant or assignee, (c) a copy of the proposed form of sublease or assignment, and (d) such
other information as Landlord may reasonably request (collectively, the "Required Information"). Landlord shall,
within ten (10) business days after Landlord's receipt of the Required Information, deliver to Tenant a written notice (a "Landlord
Response") in which Landlord either (i) consents to the proposed sublease or assignment, or (ii) withholds its
consent to the proposed sublease or assignment, which consent shall not be unreasonably withheld so long as Tenant is not in default
hereunder and Landlord has received all Required Information. The reason for which Landlord shall be deemed to have reasonably
withheld its consent to any sublease or assignment includes but is not limited to (i) Landlord's determination (in its sole discretion)
that such subtenant or assignee is not of the character or quality of a tenant to whom Landlord would generally lease space in
the Building, (ii) such sublease or assignment conflicts in any manner with this Lease, including, but not limited to, the Permitted
Use or Section 4.1 hereof, (iii) the proposed subtenant or assignee is a governmental entity, a school, a training facility, a
provider of medical services or a telemarketing operation, (iv) the proposed subtenant's or assignee's primary business is prohibited
by an non-compete clause then affecting the Building, (v), or (vi) such subtenant or assignee does not meet the reasonable creditworthiness
standards applied by Landlord generally in the selection of tenants for the Building (but taking into consideration the fact that
Tenant remains liable under this Lease). In lieu of consenting to any such proposed sublease or assignment (and without regard
to whether Landlord's action is "reasonable" or "unreasonable") if Tenant's sublease is intended for the entire
remaining portion of the Term, then Landlord shall have the right, within thirty (30) days after Landlord's receipt of the Required
Information to (1) suspend that portion of this Lease as to the space so affected as of the date and for the duration of the proposed
sublease or assignment, whereupon Tenant shall be relieved of all obligations hereunder as to such space during such suspension,
but after such suspension, Tenant shall once again become liable hereunder as to the relevant space or, (2) if the proposed assignment
or sublease is for the remainder of the term of this Lease, terminate this Lease as to the space so affected as of the date so
specified by Tenant in its notice to Landlord, in which event Tenant shall be relieved of any and all further obligations hereunder
as to such space.


 


SECTION
11.3          LANDLORD'S
RIGHTS RELATING TO ASSIGNEE OR SUBTENANT. If this Lease or any part hereof is assigned or the Premises or any part thereof
are sublet, Landlord may at its option collect directly from such assignee or subtenant all rents becoming due to Tenant under
such assignment or sublease and apply such rent against any sums due to Landlord by Tenant hereunder. Tenant hereby authorizes
and directs any such assignee or subtenant to make such payment of rent directly to Landlord upon receipt of notice from Landlord,
and Tenant agrees that any such payments made by an assignee or subtenant to Landlord shall, to the extent of the payments so made,
be a full and complete release and discharge of rent owed to Tenant by such assignee or subtenant. No direct collection by Landlord
from any such assignee or subtenant shall be construed to constitute a novation or a release of Tenant or any guarantor of Tenant
from the further performance of its obligations hereunder. In the event that, following an assignment or subletting, this Lease
or the rights and obligations of Tenant hereunder are terminated for any reason, including without limitation in connection with
default by or bankruptcy of Tenant, Landlord may, at its option, consider this Lease to be thereafter a direct lease to the assignee
or subtenant of Tenant upon the terms and conditions contained in this Lease.


 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two 


Date: March 2015


 




    	16



    	 



    

  


SECTION 11.4          DESK
SPACE LICENSES. Landlord agrees that Tenant shall have the right from time to time throughout the term of this Lease to license
"desk space" (each, a "Desk Space License") and share occupancy of up to thirty percent (30%) of the
floor area of the Premises and the personal property therein with one or more licensees (each, a "Desk Space Licensee");
provided that each Desk Space License shall be subject to the terms and provisions of this Lease and each Desk Space License shall
be terminable on not more than 30 days' notice by Tenant; and provided further that Tenant shall be responsible for the conduct
of each Desk Space Licensee and the employees, agents, invitees and licensees of such Desk Space Licensees as though the same were
the employees, agents, invitees and licensees (as the case may be) of Tenant; and provided further that no Desk Space Licensee
shall engage in any business or conduct that shall impugn the reputation of the Building.


 


ARTICLE
12

TRANSFERS BY LANDLORD, SUBORDINATION AND

TENANT'S ESTOPPEL CERTIFICATE


 


SECTION
12.1          SALE
OF THE PROPERTY. In the event of any transfer of title to the Property, the transferor shall automatically be relieved and
freed of all obligations of Landlord under this Lease accruing after such transfer, provided that the transferee expressly assumes
in writing all obligations of Landlord hereunder accruing after the date of such transfer and further provided that if a Security
Deposit has been made by Tenant, Landlord shall not be released from liability with respect thereto unless Landlord's transferee
assumes responsibility for the Security Deposit, and written verification of all of the above is provided to Tenant by the Landlord
and / or transferor.


 


SECTION
12.2          SUBORDINATION,
ATTORNMENT AND NOTICE. This Lease is subject and subordinate (i) to each lease of all or any portion of the Property wherein
Landlord is the tenant and to the lien of each mortgage and deed of trust encumbering all or any portion of the Property, regardless
of whether such lease, mortgage or deed of trust now exists or may hereafter be created, (ii) to any and all advances (including
interest thereon) to be made under each such lease, mortgage or deed of trust and (iii) to all modifications, consolidations,
renewals, replacements and extensions of each such lease, mortgage or deed of trust; provided that the foregoing subordination
to any mortgage or deed of trust placed on the Property after the date hereof shall not become effective until and unless the holder
of such mortgage or deed of trust delivers to Tenant a non-disturbance agreement (which may include Tenant's agreement to attorn
as set forth below) permitting Tenant, if Tenant is not then in default under any provision of, this Lease, to remain in occupancy
of the Premises in the event of a foreclosure of any such mortgage or deed of trust. Tenant shall, in the event of the sale or
assignment of Landlord's interest in the Premises, attorn to and recognize such purchaser, assignee or lessor as Landlord under
this Lease. Tenant shall, in the event of any proceedings brought for the foreclosure of, or in the event of the exercise of the
power of sale under, any mortgage or deed of trust covering the Premises, attorn to and recognize the purchaser at foreclosure
as Landlord under this Lease. The above subordination and attornment clauses shall be self-operative and no further instruments
of subordination or attornment need be required by any mortgagee, trustee, lessor, purchaser or assignee. In confirmation thereof,
Tenant agrees that, upon the request of Landlord, or any such mortgagee, trustee, lessor, purchaser or assignee, Tenant shall execute
and deliver whatever instruments may be required for such purposes and to carry out the intent of this Section 12.2.
In the event Tenant requests a subordination, non-disturbance and attornment agreement from any mortgagee, trustee, lessor, purchaser
or assignee of Landlord, Tenant shall pay all legal fees and expenses incurred by Landlord in connection therewith, including any
legal and other fees and expenses charged by Landlord's mortgagee, trustee, lessor, purchaser or assignee.


 


SECTION
12.3          TENANT'S
ESTOPPEL CERTIFICATE. Tenant shall, upon the request of Landlord or any mortgagee of Landlord (whether under a mortgage or
deed of trust), without additional consideration, but not more often than twice in any twelve month period, deliver an estoppel
certificate within ten (10) days after a request therefor, consisting of reasonable statements required by Landlord, any mortgagee
or purchaser of any interest in the Property, which statements may include but shall not be limited to the following: this Lease
is in full force and effect, with rental paid through the date specified in the certificate; this Lease has not been modified or
amended; Tenant is not aware that Landlord is in default or that Landlord has failed to fully perform all of Landlord's obligations
hereunder; and such other statements as may reasonably be required by the requesting party. If Tenant is unable to make any statements
contained in the estoppel certificate because the same is untrue or inaccurate, Tenant shall with specificity state the reason
why such statement is untrue or inaccurate.


 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two 


Date: March 2015


 




    	17



    	 



    

  


ARTICLE
13

DEFAULT


 


SECTION
13.1          DEFAULTS
BY TENANT. The occurrence of any of the events described in subsections 13.1.1 through 13.1.3 shall constitute a default
by Tenant under this Lease.


 


		13.1.1	Failure to Pay Rent. With respect to the first payment of Rent not made by Tenant when due
in any twelve (12) month period, the failure by Tenant to make such payment to Landlord within five (5) business days after Landlord
gives Tenant written notice specifying that the payment was not made when due; with respect to any other payment of Rent during
any twelve (12) month period, the failure by Tenant to make such payment of Rent to Landlord when due, no notice of any such failure
being required.



 


		13.1.2	Failure to Perform Other Obligations. Any failure by Tenant to observe and perform any provision
of this Lease to be observed or performed by Tenant where such failure continues for thirty (30) days after Landlord gives Tenant
written notice of such failure, provided that if such failure by its nature cannot be cured within such thirty (30) day period,
Tenant shall not be in default hereunder so long as Tenant commences curative action within such thirty (30) day period, diligently
and continuously pursues the curative action and fully cures the failure within ninety (90) days after Landlord gives such written
notice to Tenant.



 


		13.1.3	Repeated Failure to Perform. The third failure by Tenant in any twelve (12) month period
to perform and observe a particular provision of this Lease to be observed or performed by Tenant (other than the failure to pay
Rent, which in all instances will be governed by subsection 13.1.1 above), no notice being required for any such third failure.



 


		13.1.4	Bankruptcy, Insolvency, Etc. Tenant or any Guarantor (i) becomes or is declared insolvent
according to any law, (ii) makes a transfer in fraud of creditors according to any applicable law, (iii) assigns or conveys
all or a substantial portion of its property for the benefit of creditors or (iv) files a petition for relief, or is the subject
of an order for relief, under the Federal Bankruptcy Code or any other present or future federal or state insolvency, bankruptcy
or similar law (collectively, "applicable bankruptcy law") or a receiver or trustee is appointed for Tenant or
Guarantor or its property; the interest of Tenant or Guarantor under this Lease is levied on under execution or under other legal
process; or any involuntary petition is filed against Tenant or Guarantor under applicable bankruptcy law; provided, however, no
action described in this subsection 13.1.4 shall constitute a default by Tenant if Tenant or Guarantor shall vigorously contest
the action by appropriate proceedings and shall remove, vacate or terminate the action within sixty (60) days after the date of
its inception.



 


SECTION
13.2          REMEDIES
OF LANDLORD.


 


		13.2.1	Termination of Lease. Upon the occurrence of a default by Tenant hereunder, Landlord may,
without judicial process, terminate this Lease by giving written notice thereof to Tenant (whereupon all obligations and liabilities
of Landlord hereunder shall terminate) and, without further notice and without liability, repossess the Premises. Landlord shall
be entitled to recover all loss and damage Landlord may suffer by reason of such termination, whether through inability to relet
the Premises on satisfactory terms or otherwise, including with limitation, accrued Rent to the date of termination and Late Charges,
plus (a) interest thereon at the rate established under Section 2.4 above from the date due through the date paid
or date of any judgment or award by any court of competent jurisdiction, (b) the unamortized cost of (i) Tenant's Improvements,
(ii) brokers' fees and commissions, (iii) attorneys' fees, (iv) moving allowances, (v) equipment allowances and (vi) any other
costs incurred by Landlord in connection with making or executing this Lease, (c) the cost of recovering the Premises, and (d)
the costs of reletting the Premises (including, without limitation, advertising costs, brokerage fees, leasing commissions, reasonable
attorneys' fees and refurbishing costs and other costs in readying the Premises for a new tenant).



 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two 


Date: March 2015


 




    	18



    	 



    

  


		13.2.2	Repossession and Re-Entry. Upon the occurrence of a default by Tenant hereunder, Landlord
may, without judicial process, immediately terminate Tenant's right of possession of the Premises (whereupon all obligations and
liability of Landlord hereunder shall terminate) without terminating this Lease, and, without notice, demand or liability, enter
upon the Premises or any part thereof, take absolute possession of the same, expel or remove Tenant and any other person or entity
who may be occupying the Premises and change the locks. If Landlord terminates Tenant's possession of the Premises under this subsection 13.2.2,
(i) Landlord shall have no obligation to tender to Tenant a key for new locks installed in the Premises, (ii) Tenant
shall have no further right to possession of the Premises, and (iii) Landlord will have the right to relet the Premises or
any part thereof on such terms as Landlord deems advisable, subject to any obligation to mitigate damages imposed by applicable
law. Any rent received by Landlord from reletting the Premises or a part thereof shall be applied first, to the payment of any
indebtedness other than Rent due hereunder from Tenant to Landlord (in such order as Landlord shall designate), second, to the
payment of any cost of such reletting, including, without limitation, refurbishing costs, reasonable attorneys' fees, advertising
costs, brokerage fees and leasing commissions and third, to the payment of Rent due and unpaid hereunder (in such order as Landlord
shall designate), and Tenant shall satisfy and pay to Landlord any deficiency upon demand therefor. No such re-entry or taking
of possession of the Premises by Landlord shall be construed as an election by Landlord to terminate this Lease unless a written
notice of such termination is also given to Tenant pursuant to subsection 13.2.1 above. If Landlord relets the Premises, either
before or after the termination of this Lease, all such rentals received from such lease shall be and remain the exclusive property
of Landlord.



 


		13.2.3	Cure of Default. Upon the occurrence of a default hereunder by Tenant, Landlord may, without
judicial process and without having any liability therefor, enter upon the Premises and do whatever Tenant is obligated to do under
the terms of this Lease and Tenant agrees to reimburse Landlord on demand for any expenses which Landlord may incur in effecting
compliance with Tenant's obligations under this Lease, and Tenant further agrees that Landlord shall not be liable for any damages
resulting to Tenant from such action, WHETHER CAUSED BY THE NEGLIGENCE OF LANDLORD OR OTHERWISE.



 


		13.2.4	Continuing Obligations. No repossession of or re-entering upon the Premises or any part
thereof pursuant to subsection 13.2.2 or 13.2.3 above or otherwise and no reletting of the Premises or any part thereof pursuant
to subsection 13.2.2 above shall relieve Tenant or any Guarantor of its liabilities and obligations hereunder, all of which shall
survive such repossession or re-entering. In the event of any such repossession of or re-entering upon the Premises or any part
thereof by reason of the occurrence of a default, Tenant will continue to pay to Landlord all Rent which is required to be paid
by Tenant.



 


		13.2.5	Cumulative Remedies. No right or remedy herein conferred upon or reserved to Landlord is
intended to be exclusive of any other right or remedy set forth herein or otherwise available to Landlord at law or in equity and
each and every right and remedy shall be cumulative and in addition to any other right or remedy given hereunder or now or hereafter
existing at law or in equity. In addition to the other remedies provided in this Lease and without limiting the preceding sentence,
Landlord shall be entitled, to the extent permitted by applicable law, to injunctive relief in case of the violation, or attempted
or threatened violation, of any of the covenants, agreements, conditions or provisions of this Lease, or to a decree compelling
performance of any of the covenants, agreements, conditions or provisions of this Lease.



 


		13.2.6	Mitigation of Damages. For purposes of determining any recovery of rent or damages by Landlord
that depends upon what Landlord could collect by using reasonable efforts to relet the Premises, whether the determination is required
under subsections 13.2.1 or 13.2.2 or otherwise, it is understood and agreed that:



 


		(a)	Landlord may reasonably elect to lease other comparable, available space in the Building, if any,
before reletting the Premises.



 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two 


Date: March 2015


 




    	19



    	 



    

  


		(b)	Landlord may reasonably decline to incur out-of-pocket costs to relet the Premises, other than
customary leasing commissions and legal fees for the negotiation of a lease with a new tenant.



 


		(c)	Landlord may reasonably decline to relet the Premises at rental rates below then prevailing market
rental rates, because of the negative impact lower rental rates would have on the value of the Building and because of the uncertainty
of actually receiving from Tenant the greater damages that Landlord would suffer from and after reletting at the lower rates.



 


		(d)	Before reletting the Premises to a prospective tenant, Landlord may reasonably require the prospective
tenant to demonstrate the same financial wherewithal that Landlord would require as a condition to leasing other space in the Building
to prospective tenant.



 


		(e)	Identifying a prospective tenant to relet the Premises, negotiating a new lease with such tenant
and making the Premises ready for such tenant will take time, depending upon market conditions when the Premises first become available
for reletting, and during such time no one can reasonably expect Landlord to collect anything from reletting.



 


SECTION
13.3          DEFAULTS
BY LANDLORD. Landlord shall be in default under this Lease if Landlord fails to perform any of its obligations hereunder and
such failure continues for a period of thirty (30) days after Tenant gives written notice to Landlord and each mortgagee who has
a lien against any portion of the Property and whose name and address has been provided to Tenant stating that (a) Landlord is
in breach of this Lease and (b) describing the breach with specificity, provided that if such failure cannot reasonably be cured
within such thirty (30) day period, Landlord shall not be in default hereunder if the curative action is commenced within such
thirty (30) day period and is thereafter diligently pursued until cured.


 


SECTION
13.4          LANDLORD'S
LIABILITY. If Tenant shall recover a money judgment against Landlord, such judgment shall be satisfied only out of the right,
title and interest of Landlord in the Property as the same may then be encumbered and Landlord shall not be liable for any deficiency.
In no event shall Landlord be liable to Tenant for consequential or special damages by reason of a failure to perform (or a default)
by Landlord hereunder or otherwise. In no event shall Tenant have the right to levy execution against any property of Landlord
other than its interest in the Property as above provided. Landlord shall not be liable to Tenant for any claims, actions, demands,
costs, expenses, damage or liability of any kind which (a) are caused by (i) tenants or any persons either in the Premises
or elsewhere in the Building (unless occurring in the Common Areas and caused by Landlord's negligence), (ii) occupants of property
adjacent to the Building or Common Areas, (iii) the public, or (iv) the construction of any private, public or quasi-public work,
or (b) are caused by any theft or burglary at the Premises or the Property.


 


ARTICLE
14

NOTICES


 


Any notice or communication required or permitted
in this Lease shall be given in writing, sent by (a) personal delivery (b) expedited delivery service, (c) United
States mail, postage prepaid, certified mail, return receipt requested, (d) electronic mail or facsimile, with proof of delivery
on a business day and addressed as set forth in the Basic Lease Information or to such other address or to the attention of such
other person as shall be designated from time to time in writing by the applicable party and sent in accordance herewith. Any such
notice or communication shall be deemed to have been given either at the time of personal delivery or, in the case of delivery
service, mail or electronic mail, as of the date of first attempted delivery at the address and in the manner provided herein.
Reference is made to Section 13.3 of this Lease for other provisions governing notices.


 


ARTICLE
15

MISCELLANEOUS PROVISIONS


 


SECTION
15.1          BUILDING
NAME AND ADDRESS. Tenant shall not, without the written consent of Landlord, use the name of the Building for any purpose other
than as the address of the business to be conducted by Tenant in the Premises and in no event shall Tenant acquire any rights in
or to such names. Landlord shall have the right at any time to change the name, number or designation by which the Building is
known.


 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two 


Date: March 2015


 




    	20



    	 



    

  


SECTION
15.2          SIGNAGE.
Landlord shall maintain a tenant directory in the main Building lobby, and shall provide Tenant identification in such directory,
setting forth Tenant's name and location. Tenant shall not otherwise inscribe, paint, affix, or display any signs, advertisements
or notices on or in the Building or the Premises, except for such tenant identification information approved in advance by Landlord
(which approval shall not be unreasonably withheld, delayed or conditioned) and installed adjacent to the access door or doors
to the Premises. Landlord will provide a building standard sign plaque at the main entry to the Premises at Landlord's sole cost
and expense. Landlord may withhold approval of any Tenant sign if necessary, in Landlord's discretion, to preserve aesthetic standards
for the Building. All signs permitted hereunder shall constitute Installations and shall be subject to the provisions of subsection
6.3.3, including without limitation Landlord's rights under such subsection to perform and charge for the work necessary to complete
Installations.


 


SECTION
15.3          NO
WAIVER. No waiver by Landlord or Tenant of any provision of this Lease shall be deemed to have been made unless such waiver
is expressly stated in writing signed by the waiving party. No waiver by Landlord or Tenant of any breach by the other party shall
be deemed a waiver of any subsequent breach of the same or any other provision. The failure of Landlord or Tenant to insist at
any time upon the strict performance of any covenant or agreement or to exercise any option, right, power or remedy contained in
this Lease shall not be construed as a future waiver thereof. No payment by Tenant or receipt by Landlord of a lesser amount than
the monthly installment of Rent due under this Lease shall be deemed to be other than on account of the earliest Rent due hereunder,
nor shall any endorsement or statement on any check or any letter accompanying any check or payment as Rent be deemed an accord
and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord's right to recover the balance of
such Rent or pursue any other remedy which may be available to Landlord.


 


SECTION
15.4          APPLICABLE
LAW. This Lease shall be governed by and construed in accordance with the laws of the State of Texas.


 


SECTION
15.5          COMMON
AREAS. "Common Areas" shall mean all areas, spaces, facilities and equipment (whether or not located within
the Building) made available by Landlord for the common and joint use of Landlord, Tenant and others designated by Landlord using
or occupying space in the Building, including but not limited to, any conference centers, fitness centers, tunnels, walkways, sidewalks
and driveways necessary for access to the Building, Building lobbies, the Garage, landscaped areas, public corridors, public rest
rooms, Building stairs, elevators open to the public, service elevators (provided that such service elevators shall be available
only for tenants of the Building and others designated by Landlord), drinking fountains and any such other areas and facilities
as are designated by Landlord from time to time as Common Areas. "Service Corridors" shall mean all loading docks,
loading areas and all corridors that are not open to the public but which are available for use by Tenant and others designated
by Landlord. "Service Areas" will refer to areas, spaces, facilities and equipment serving the Building (whether
or not located within the Building) but to which Tenant and other occupants of the Building will not have access, including, but
not limited to, mechanical, telephone, electrical and similar rooms and air and water refrigeration equipment. Tenant is hereby
granted a nonexclusive right to use the Common Areas and Service Corridors during the term of this Lease for their intended purposes,
in common with others designated by Landlord, subject to the terms and conditions of this Lease, including, without limitation,
the Rules and Regulations and the Parking Agreement attached hereto as Exhibit F. The Building, Common Areas, Service Corridors
and Service Areas will be at all times under the exclusive control, management and operation of Landlord and Property Manager.
Tenant agrees and acknowledges that the Premises (whether consisting of less than one floor or one or more full floors within the
Building) do not include, and Landlord hereby expressly reserves for its sole and exclusive use, any and all mechanical, electrical,
telephone and similar rooms, janitor closets, elevator, pipe and other vertical shafts and ducts, flues, stairwells, any area above
the acoustical ceiling and any other areas not specifically shown on Exhibit B as being part of the Premises.


 


SECTION
15.6          SUCCESSORS
AND ASSIGNS. Subject to Article 11 hereof, all of the covenants, conditions and provisions of this Lease shall
be binding upon and shall inure to the benefit of the parties hereto and their respective heirs, personal representatives, successors
and assigns.


 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two 


Date: March 2015


 




    	21



    	 



    

  


SECTION
15.7          BROKERS.
Tenant and Landlord each warrants that it has had no dealings with any real estate broker or agent in connection with the negotiation
of this Lease other than Andrew Zezas, SIOR, Real Estate Strategies Corporation and Nora Hogan, TCS Central Region GP, L.L.C.
d/b/a Transwestern ("Tenant's Broker") on behalf of Tenant, and Granite Properties,
Inc. ("Landlord Broker") on behalf of Landlord, and that it knows of no other real estate brokers or agents who
are or claim to be entitled to a commission in connection with this Lease. Landlord and Tenant each agrees to defend, indemnify
and hold harmless the other from and against any liability or claim, whether meritorious or not, arising with respect to any broker
and/or agent known to Landlord or Tenant, respectively, and not so named and claiming to be entitled to a commission by, through
or under such party. Landlord has agreed to pay the fees of Landlord's Broker and Tenant's Broker strictly in accordance with and
subject to the terms and conditions of separate written commission agreements.


 


SECTION
15.8          SEVERABILITY.
If any provision of this Lease or the application thereof to any person or circumstances shall be invalid or unenforceable to any
extent, the application of such provisions to other persons or circumstances and the remainder of this Lease shall not be affected
thereby and shall be enforced to the greatest extent permitted by law.


 


SECTION
15.9          EXAMINATION
OF LEASE. Submission by Landlord of this instrument to Tenant for examination or signature does not constitute a reservation
of or option for lease. This Lease will be effective as a lease only upon execution by and delivery to both Landlord and Tenant.


 


SECTION
15.10          TIME.
Time is of the essence in this Lease and in each and all of the provisions hereof. Whenever a period of days is specified in this
Lease, such period shall refer to calendar days unless otherwise expressly stated in this Lease. If any date provided under this
Lease for performance of an obligation or expiration of a time period is a Saturday, Sunday or a holiday generally recognized by
businesses, the obligation shall be performed or the time period shall expire, as the case may be, on the next succeeding business
day.


 


SECTION
15.11          DEFINED
TERMS AND MARGINAL HEADINGS. The words "Landlord" and "Tenant" as used herein shall include the plural
as well as singular. If more than one person is named as Tenant, the obligations of such persons are joint and several. The headings
and titles to the articles, sections and subsections of this Lease are not a part of this Lease and shall have no effect upon the
construction or interpretation of any part of this Lease.


 


SECTION 15.12          AUTHORITY.
Landlord and Tenant and each person signing this Lease on behalf of such party represents to the other party as follows: Such
party, if a corporation, limited liability company, limited partnership, limited liability partnership or partnership is duly formed
and validly existing under the laws of the state of its formation and is duly qualified to do business in the State of Texas. Tenant
has all requisite power and all governmental certificates of authority, licenses, permits, qualifications and other documentation
to lease the Premises and to carry on its business as now conducted and as contemplated to be conducted. Each person signing on
behalf of Landlord or Tenant is authorized to do so. The foregoing representation in this Section 15.12 shall also apply
to any corporation, limited liability company, limited partnership, limited liability partnership or partnership which is a general
partner or joint venturer of Tenant.


 


SECTION
15.13          FORCE
MAJEURE. Whenever a period of time is herein prescribed for action to be taken by Landlord or Tenant, the party taking the
action shall not be liable or responsible for, and there shall be excluded from the computation for any such period of time, any
delays due to strikes, riots, acts of God, shortages of labor or materials, war, governmental laws, regulations or restrictions
or any other causes which are beyond the reasonable control of such party; provided, however, in no event shall the foregoing apply
to the financial obligations of either Landlord or Tenant to the other under this Lease, including Tenant's obligation to pay Basic
Annual Rent, Additional Rent or any other amount payable to Landlord hereunder.


 


SECTION
15.14          NO
RECORDING. This Lease shall not be recorded.


 


SECTION
15.15          PARKING.
Exhibit F attached hereto sets forth agreements between Landlord and Tenant relating to parking.


 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two 


Date: March 2015


 




    	22



    	 



    

 






 


SECTION
15.16         ATTORNEYS'
FEES. In the event of any legal action or proceeding brought by either party against the other arising out of this Lease,
the prevailing party shall be entitled to recover reasonable attorneys' fees and costs incurred in such action (including, without
limitation, all costs of appeal) and such amount shall be included in any judgment rendered in such proceeding.


 


SECTION
15.17         SURVIVAL
OF INDEMNITIES. Each indemnity agreement and hold harmless agreement contained herein shall survive the expiration or termination
of this Lease.


 


SECTION 15.18         RELOCATION
OF PREMISES. Landlord may, upon prior written notice to Tenant (the "Relocation Notice"), relocate the Premises
to any other premises within the Building (hereinafter referred to as the "Relocated Premises"), provided the
Relocated Premises (a) are substantially the same size as the Premises, (b) are not located on a floor lower than the floor on
which the Premises is located, and (c) have a view that is comparable to the view of the Premises, and except as otherwise provided
below, Tenant shall be obligated to relocate to the Relocated Premises in accordance with the Relocation Notice and the other
terms and provisions of this Section 15.18. The relocation of the Premises to the Relocated Premises shall be made effective
as of the date that is ninety (90) days after the later of the date of the Relocation Notice and the date Landlord executes a
letter of intent with a prospective tenant for all or part of the Premises. In no event shall Landlord have the right to relocate
the Premises during the last year of the Term of this Lease (as the same may be extended). Landlord shall pay all out-of-pocket
expenses incurred by Tenant in connection with any such relocation, including stationery costs, moving costs and the expense of
furnishing the Relocated Premises with substantially the same type and quality of leasehold improvements as the Premises. In the
event of such relocation, this Lease shall continue in full force and effect without any change in the terms or conditions thereof,
except that the Relocated Premises shall be substituted for the original Premises. In no event shall the amount of Basic Rent
or Additional Rent payable with respect to the Relocated Premises exceed the amounts payable under this Lease with respect to
the Premises. If Tenant shall not desire to so relocate, then within ten (10) days after Landlord sends the Relocation Notice
to Tenant, Tenant shall notify Landlord that Tenant does not desire to relocate (the "Tenant's Response"), and
Landlord may, but shall have no obligation to, terminate this Lease effective ninety (90) days after the later of the date of
the Relocation Notice and the date Landlord executes a letter of intent with a prospective tenant for all or part of the Premises
by delivering written notice of termination to Tenant within ten (10) days after receipt of the Tenant's Response. If Landlord
does not timely deliver notice of termination after receipt of the Tenant's Response, then Landlord shall be deemed to have waived
its right to terminate this Lease pursuant to this Section 15.18, and Tenant shall be obligated to relocate to the Relocated
Premises in accordance with the Relocation Notice and the other terms and provisions of this Section 15.18. There shall
be no abatement of any Rent or other sums payable hereunder on account of Tenant's relocation or any inconvenience or business
loss caused to Tenant thereby.


 


SECTION
15.19         CONFIDENTIALITY.
Tenant and Landlord acknowledge that the terms and conditions of the Lease are to remain confidential for Landlord's benefit.
Tenant shall use commercially reasonable efforts to not disclose the terms and conditions of this Lease to anyone, by any manner
or means, directly or indirectly, and Tenant shall instruct its management personnel not to disclose the terms and conditions
of this Lease to anyone, by any manner or means, directly or indirectly, without Landlord's prior written consent; however, Tenant
may disclose the terms and conditions of the Lease if required by Law or court order, in connection
with a dispute between Landlord and Tenant, and to its attorneys, accountants, employees and existing or prospective financial
partners provided same are advised by Tenant of the confidential nature of such terms and
conditions and agree to maintain the confidentiality thereof (in each case, prior to disclosure). Tenant shall be liable for any
disclosures knowingly made in violation of this Section by Tenant or by any entity or individual to whom the terms of and conditions
of the Lease were disclosed or made available by Tenant. The consent by Landlord to any disclosures shall not be deemed to be
a waiver on the part of Landlord of any prohibition against any future disclosure.


 


SECTION
15.20         FINANCIAL
STATEMENTS. Tenant warrants and represents that all of the financial statements provided
to Landlord prior to the Date of Lease are true, correct and complete in all material respects and fairly and accurately present
the financial position of Tenant as of the dates and for the periods set forth therein.  During
the Term of this Lease, Tenant shall, within ten (10) days after receipt of a written request therefor, deliver to Landlord, a
current balance sheet and (as applicable) related statements of income, cash flow, retained earnings, and contingent liabilities
showing the financial position and results of operations of Tenant. (collectively referred to as "Financial Information").
The Financial Information shall be in form, scope and detail reasonably satisfactory to Landlord and shall be certified by an
authorized representative of Tenant that the financial statements fairly and accurately present the financial position of Tenant.
Except in connection with a proposed financing or sale of the Property and as otherwise provided herein, Landlord may request
the Financial Information from Tenant no more than one (1) time in any twelve (12) month period. Notwithstanding the foregoing,
Landlord may request the Financial Information upon each occurrence of any of the events described in subsections 13.1.1 through
13.1.4. Upon written request by Tenant, Landlord shall enter into a commercially reasonable confidentiality agreement covering
any information that is disclosed by Tenant. Failure of Tenant to timely deliver its Financial Information in accordance with
the provisions of this Section 15.20 shall be deemed to be a default under this Lease.





Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two


Date: March
2015







 




    	23



    	 



    

 


SECTION
15.21         DIGITAL RECORDS. Landlord and Tenant agree to accept
a digital image of this Lease, as executed in counterparts, as a true and correct original and admissible for the purposes of
state law, Federal Rule of Evidence 1002, and like statutes and regulations.


 


SECTION
15.22         ENTIRE
AGREEMENT. This Lease contains all of the agreements of the parties hereto with respect to any matter covered or mentioned
in this Lease, and no prior agreement, understanding or representation pertaining to any such matter shall be effective for any
purpose. No provision of this Lease may be amended or supplemented except by an agreement in writing signed by the parties hereto
or their respective successors in interest.


 


[SIGNATURE
PAGE FOLLOWS]





Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two


Date: March
2015




 




    	24



    	 



    

 


IN WITNESS WHEREOF, the
parties hereto have executed and delivered this Lease effective as of the Date of Lease set forth in the Basic Lease Information.


 


	 	LANDLORD:
	 	 
	 	GP Park II, LLC,
	 	 
	 	By: Granite Properties, Inc., its Manager
	 	 
	 	 	 
	Date: April 9, 2015	By:	/s/ Robert Jimenez
	 	Name:	Robert Jimenez
	 	Title:	Director of Leasing 
	 	 	 
	 	TENANT:
	 	 
	 	I. D. Systems, Inc.
	 	 
	Date: March 20, 2015	By:	/s Ned Mavrommatis
	 	Name:	Ned Mavrommatis
	 	Title:	CFO


 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two


Date: March
2015



 




    	25



    	 



    

 


EXHIBIT A


LEGAL DESCRIPTION


 


Lot 5, Block A Granite Park Phase II, City
of Plano, County of Collin, State of Texas.


 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two


Date: March
2015


 





    	26



    	 



    

 


Exhibit
b


 


Premises Floor Plan


 


(Premises crosshatched below and not to scale)


 





 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two


Date: March
2015


 







    	27



    	 



    

 


EXHIBIT C


 


RULES AND REGULATIONS


 


1.          The
sidewalks, walks, plaza entries, corridors, concourses, ramps, staircases, escalators and elevators of the Property shall not
be obstructed or used by Tenant, or the employees, agents, servants, visitors or licensees of Tenant for any purpose other than
pedestrian ingress and egress to and from the Premises. No bicycle or motorcycle shall be brought into the Building or kept on
the Premises without the prior written consent of Landlord.


 


2.          No
freight, furniture or bulky matter of any description will be received into the Property or carried into the elevators except
in such a manner, during such hours and using such elevators and passageways as may be approved by Landlord, and then only upon
having been scheduled in advance. Any hand trucks, carryalls, or similar equipment used for the delivery or receipt of merchandise
or equipment shall be equipped with rubber tires, side guards and such other safeguards as Landlord shall require.


 


3.          Landlord
shall have the right to prescribe the weight, position and manner of installation of safes or other heavy equipment which shall,
if considered necessary by Landlord, be installed in a manner which shall insure satisfactory weight distribution. All damage
done to the Property by reason of a safe or any other article of Tenant's office equipment being on the Premises shall be repaired
at the expense of Tenant. The time, routing and manner of moving safes or other heavy equipment shall be subject to prior approval
by Landlord.


 


4.          Only
persons authorized by Landlord will be permitted to furnish drinking water, barbering, shoe shining, janitorial services, and
other similar services and concessions to Tenant, and only at hours and in compliance with security requirements established by
Landlord.


 


5.          Tenant,
or the employees, agents, servants, visitors or licensees of Tenant shall not at any time leave, place or discard any rubbish,
paper, articles or objects of any kind whatsoever outside the doors of the Premises or in the corridors, stairways or passageways
of the Property.


 


6.          Landlord
shall have the right to prohibit any advertising by Tenant which includes the picture, name or address of the Property and which,
in Landlord's opinion, tends to impair the reputation of the Property or its desirability for offices, and, upon written notice
from Landlord, Tenant will refrain from or discontinue such advertising.


 


7.          Tenant
shall not place, or cause or allow to be placed, any sign, placard, picture, advertisement, notice or lettering whatsoever, in,
about or on the exterior of the Premises, Building or Property except in and at such places as may be designated by Landlord and
consented to by Landlord in writing. Any such sign, placard, advertisement, picture, notice or lettering so placed may be removed
by Landlord without notice to and at the expense of Tenant. All lettering and graphics on corridor doors shall conform to the
Building's standard prescribed by Landlord. No trademark shall be displayed in any event.


 


8.          Canvassing,
soliciting or peddling in the Building and/or Property is prohibited, and Tenant shall cooperate to prevent same.


 


9.          Landlord
shall have the right to exclude any person from the Property other than during customary business hours as set forth in the Lease,
and any person in the Property will be subject to identification by employees and agents of Landlord. All persons in or entering
the Property shall be required to comply with the security policies of the Property. If Tenant desires any additional security
service for the Premises, Tenant shall have the right (with the advance written consent of Landlord) to obtain such additional
service at Tenant's sole cost and expense. Tenant shall keep doors to unattended areas locked and shall otherwise exercise reasonable
precautions to protect property from theft, loss or damage. Landlord shall not be responsible for the theft, loss or damage of
any property or for any error with regard to the exclusion from or admission to the Property of any person. In case of invasion,
mob, riot or public excitement, Landlord reserves the right to prevent access to the Property during the continuance of same by
closing the doors or taking other measures for the safety of the tenants and protection of the Property and property or persons
therein.


 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two


Date: March
2015


 





    	28



    	 



    

 


10.         Only
workmen employed, designated or approved by Landlord may be employed for repairs, installations, alterations, painting, material
moving and other similar work that may be done in or on the Premises. Tenant will refer all contractors, contractor's representatives
and installation technicians rendering any service on or to the Premises for Tenant to Landlord for Landlord's approval and supervision
before performance of any contractual service. This provision shall apply to all work performed in the Building including installation
of telephones, electrical devices and attachments and installations of any nature affecting floors, walls, woodwork, trim, windows,
ceilings equipment or any other physical portion of the Building.


 


11.         Tenant
shall not do any cooking (other than warming in a microwave oven) or conduct any restaurant, luncheonette, automat or cafeteria
for the sale or service of food or beverages to its employees or to others. Tenant may, however, operate a coffee bar by and for
its employees. Tenant shall not install or permit to be installed any vending machines in the Premises.


 


12.         Tenant
shall not bring or permit to be brought or kept in or on the Premises or the Property any inflammable, combustible, corrosive,
caustic, poisonous, or explosive substance, or cause or permit any odors to permeate in or emanate from the Premises, or permit
or suffer the Premises to be occupied or used in a manner offensive or objectionable to Landlord or other occupants of the Property
by reason of light, radiation, magnetism, noise, odors and/or vibrations, or interfere in any way with other tenants or those
having business in the Property.


 


13.         Except
for the installation of pictures and standard office equipment and decoration within the Premises, Tenant shall not mark, paint,
drill into, or in any way deface any part of the Property or the Premises. No boring, driving of nails or screws, cutting or stringing
of wires shall be permitted, except as otherwise provided herein or with the prior written consent of Landlord, and as Landlord
may direct. Tenant shall not install any resilient tile or similar floor covering in the Premises except with the prior approval
of Landlord. The use of cement or other similar adhesive material is expressly prohibited.


 


14.         No
additional locks or bolts of any kind shall be placed on any door in the Property or the Premises and no lock on any door therein
shall be changed or altered in any respect. Landlord shall furnish two keys for each lock on exterior doors to the Premises and
shall, at Tenant's request and at Tenant's expense, provide additional duplicate keys. Tenant shall not make duplicate keys. All
keys shall be returned to Landlord upon the termination of this Lease, and Tenant shall give to Landlord explanations of the combinations
of all safes, vaults and combination locks remaining with the Premises. Landlord may at all times keep a pass key to the Premises.
All entrance doors to the Premises shall be left closed at all times and left locked when the Premises are not in use. Landlord
agrees to furnish to Tenant, at Landlord's expense, two (2) CardKeys for access to the Building during such times as the Building
is not open to the public. Upon written request from Tenant, or other parties authorized by Tenant, Landlord will furnish additional
CardKeys to Tenant at Tenant's expense. Should any CardKeys be lost or stolen, Tenant will immediately notify Landlord and Landlord
will issue replacement CardKeys with a different computer code number. Such replacement CardKeys will be at Tenant's expense.


 


15.         Tenant
shall give immediate notice to Landlord in case of theft, unauthorized solicitation or accident in the Premises or in the Property
or of defects therein or in any fixtures or equipment, or of any known emergency in the Property.


 


16.         Tenant
shall not use the Premises or permit the Premises to be used for photographic or other forms of reproductions, except in connection
with its own business and not as a service for others without Landlord's prior permission.


 


17.         Tenant
shall not use or permit any portion of the Premises to be used as an office for a public word processor, a printer, the sale of
liquor or tobacco, a barber, a hair salon, a manicure shop, an employment bureau, a labor union office, a doctor's or dentist's
office, a dance or music studio, any type of school, or for any use other than those specifically granted in this Lease.


 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two


Date: March
2015


 





    	29



    	 



    

 


18.         Tenant
shall not advertise for laborers giving the Premises as an address, nor pay such laborers at a location on the Property.


 


19.         The
requirements of Tenant will be attended to only after notice to Landlord at the Building or at such other address as may be designated
by Landlord in the Lease. Employees of Landlord shall not perform any work or do anything outside of their regular duties, unless
under special instructions from the office of Landlord.


 


20.         Tenant
shall not place a load upon any floor of the Premises which exceeds the load per square foot which such floor was designed to
carry and which is allowed by law. Business machines and mechanical and electrical equipment belonging to Tenant which cause noise,
vibration, electrical or magnetic interference, or any other nuisance that may be transmitted to the structure or other portions
of the Property or to the Premises to such a degree as to be objectionable to Landlord or which interfere with the use or enjoyment
by other tenants of their premises or the public portions of the Property shall be placed and maintained by Tenant, at Tenant's
expense in settings of cork, rubber, spring type, or other vibration eliminators sufficient to eliminate noise or vibration.


 


21.         No
awning, draperies, shutters or other interior or exterior window coverings that are visible from the exterior of the Building
or from the exterior of the Premises within the Building may be installed by Tenant.


 


22.         Tenant
shall not place, install or operate within the Premises or any other part of the Property any engine, stove, or machinery, or
conduct mechanical operations therein, without the written consent of Landlord.


 


23.         No
portion of the Premises or any part of the Property shall at any time be used or occupied as sleeping or lodging quarters.


 


24.         Tenant
shall at all times keep the Premises neat and orderly.


 


25.         The
toilet rooms, urinals, wash bowls and other apparatus shall not be used for any purpose other than that for which they were constructed
and no foreign substance of any kind whatsoever shall be thrown therein and the expense of any breakage, stoppage or damage resulting
from the violation of this rule shall be borne by the tenant who or whose employees or invitees shall have caused it.


 


26.         Landlord
reserves the right to exclude or expel from the Property any person who, in the judgment of Landlord, is intoxicated or under
the influence of liquor or drugs, or who shall in any manner do any act in violation of any of the Rules and Regulations of the
Property.


 


27.         Tenant
shall use no other method of heating or cooling than that supplied by Landlord.


 


28.         Tenant
and its agents, employees and invitees shall observe and comply with the driving and parking signs and markers on the Property
grounds and surrounding areas.


 


29.         Except
for service animals, no animals, birds or fish shall be brought to or kept in or about the Property.


 


30.         Smoking
of any kind (cigarette, pipe, etc.) is strictly prohibited within the Premises, Building, Common Areas (to include, but not limited
to, lobbies, corridors, restrooms, elevators, stairwells, and the Garage) and any other areas not specifically designated as a
Smoking Area by Landlord. Tenant hereby agrees that violation of this smoking prohibition by Tenant, Tenant's employees, agents,
visitors or invitees (individually and collectively, "Tenant Party") shall be subject to a fine in the amount
of One Hundred and No/100 Dollars ($100.00.) for the first violation by a Tenant Party and Two Hundred Fifty and No/100 Dollars
($250.00) for each subsequent violation by a Tenant Party, whether or not the violation involves the same Tenant Party or a different
Tenant Party. Use of any electronic cigarette, electronic vaping device, personal vaporizer (PV), digital vapor device or electronic
nicotine delivery system (ENDS) is prohibited in the building or around the entries to the building. Users of these devices should
be directed to the designated smoking area. Repeated violations of this rule shall, at Landlord's discretion, constitute a default
under this Lease.


 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two


Date: March
2015


 





    	30



    	 



    

  


31. Landlord shall have
the right to install such devices within the Premises and elsewhere in the Building and on the Property as Landlord deems advisable
to decrease consumption of utilities and waste on the Property, and Tenant shall cooperate with Landlord in the installation and
use thereof. Landlord may establish such recycling programs as it deems advisable in its sole discretion, and guidelines for the
same. Landlord may forbid or restrict the use of certain supplies by Tenant if alternatives are readily available at a comparable
cost which are more readily recyclable or otherwise reduce the carbon footprint of the Property. Tenant shall ensure that all
occupants of the Premises diligently observe the recycling program and the guidelines for the same as well as reasonable restrictions
on the use of certain supplies. Landlord reserves the right to impose penalties on Tenant for the repeated failure of any occupant
of the Premises to participate in the recycling program and observe the guidelines for the same or the repeated use of restricted
supplies.


 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two


Date: March
2015


 





    	31



    	 



    

 


EXHIBIT D


 


WORK LETTER


 


		1.	Plans.



 


		1.1	Space Plan. Landlord's designated
                                         space planner, at Tenant's expense, shall prepare and deliver to Tenant a space plan
                                         for the Premises showing, regardless of the quantities of such items, the location of
                                         all partitions and doors and the lay-out of the Premises. Tenant will at all times cooperate
                                         with Landlord's space planner, furnishing all reasonable information and material concerning
                                         Tenant's organization, staffing, growth expectations, physical facility needs (including,
                                         without limitation, needs arising by reason of the Disability Acts), equipment, inventory,
                                         etc., necessary for the space planner to efficiently and expeditiously arrive at an acceptable
                                         layout of the Premises. Tenant will approve or disapprove in writing the space plan within
                                         three (3) business days after receipt from Landlord and, if disapproved, Tenant shall
                                         provide Landlord and Landlord's space planner with specific reasons for disapproval.
                                         If Tenant fails to approve or disapprove the space plan on or before the end of such
                                         three (3) business day period, Tenant shall be deemed to have approved the last submitted
                                         space plan. The foregoing process shall be repeated until Tenant has approved (which
                                         shall include deemed approval) the space plan (such space plan, when approved by Landlord
                                         and Tenant, is herein referred to as the "Space Plan").



 


		1.2	Design and Color Scheme.
                                         Within five (5) days after approval of the Space Plan by Tenant and Landlord,
                                         Tenant and its representatives shall meet with Landlord's space planner and engineer,
                                         at Tenant's expense, to arrive at an acceptable design of and color scheme for the Premises
                                         (such design and color scheme, when approved by Landlord and Tenant, is herein referred
                                         to as the "Design and Color Scheme") and an acceptable product specification
                                         list for all materials, products, finishes and work that Tenant desires to use that are
                                         not Building Standard (such product specification list, when approved by Landlord and
                                         Tenant, is herein referred to as the "Above Standard Product Specification List").
                                         For purposes hereof, the term "Building Standard" (herein so called)
                                         shall mean those certain component elements utilized in the design and construction of
                                         improvements in the Building that have been pre-selected by Landlord to ensure uniformity
                                         of quality, function and appearance throughout the Building (which elements may include,
                                         but are not limited to, ceiling systems, doors, hardware, walls, floor coverings, finishes,
                                         window coverings, light fixtures and HVAC components). The Design and Color Scheme shall,
                                         in Landlord's sole judgment, (i) conform to the design criteria from time to time established
                                         by Landlord for the Building and (ii) be compatible with the design and colors of existing
                                         finished space in the Building. The Above Standard Product Specification List shall in
                                         all events be acceptable to Landlord and delays in construction of Tenant's Improvements
                                         caused by the specification of a material, product, finish or type of work included in
                                         the Above Standard Product Specification List shall constitute Tenant Delay.



 


		1.3	Compliance with Disability Acts.
                                         Tenant shall promptly provide Landlord and Landlord's space planner and/or architect,
                                         as applicable, with all information needed to cause the construction of Tenant's Improvements
                                         to be completed such that Tenant, the Premises and Tenant's Improvements (as constructed)
                                         will be in compliance with the Disability Acts.



 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two


Date: March
2015


 





    	32



    	 



    

  


		1.4	Construction Plans. On or
                                         before ten (10) days after approval of the Space Plan, the Design and Color Scheme
                                         and the Above Standard Product Specification List by Landlord and Tenant, Landlord's
                                         space planner and engineer, at Tenant's expense, will prepare construction plans (such
                                         construction plans, when approved, and all changes and amendments thereto agreed to by
                                         Landlord and Tenant in writing, are herein called the "Construction Plans")
                                         for all of Tenant's Improvements requested pursuant to the Space Plan, the Design and
                                         Color Scheme and the Above Standard Product Specification List (all improvements required
                                         by the Construction Plans are herein called "Tenant's Improvements"),
                                         including complete detail and finish drawings for partitions, doors, reflected ceiling,
                                         telephone outlets, electrical switches and outlets and Building Standard heating, ventilation
                                         and air conditioning equipment and controls. Within three (3) business days after Construction
                                         Plans are delivered to Tenant, Tenant shall approve (which approval shall not be unreasonably
                                         withheld) or disapprove same in writing and, if disapproved, Tenant shall provide Landlord
                                         and Landlord's space planner and engineer specific reasons for disapproval. The foregoing
                                         process shall continue until the Construction Plans are approved by Tenant; provided
                                         that if Tenant fails to respond in any three (3) business day period, Tenant shall be
                                         deemed to have approved the last submitted construction plans.



 


		1.5	Changes to Approved Plans.
                                         If any redrawing or re-drafting of either the Space plan, the Design and Color Scheme,
                                         the Above Standard Product Specification List or the Construction Plans is necessitated
                                         by Tenant's requested changes (all of which shall be subject to Landlord's approval),
                                         the expense of any such re-drawing or re-drafting required in connection therewith and
                                         the expense of any work and improvements necessitated by such re-drawing or re-drafting
                                         will be charged to Tenant.



 


		1.6	Coordination of Planners and
                                         Designers. If Tenant shall arrange for interior design services, whether with Landlord's
                                         space planner or any other planner or designer, it shall be Tenant's responsibility to
                                         cause necessary coordination of its agents' efforts with Landlord's agents to ensure
                                         that no delays are caused to either the planning or construction of the Tenant's Improvements.



 


		2.	Construction
                                         and Costs of Tenant's Improvements



 


		2.1	Construction Obligation and
                                         Finish Allowance. The condition of the Premises prior to construction of Tenant Improvements
                                         shall be in "as is" condition. Any existing improvements, including
                                         the card reader(s) may be reused by Tenant for the purpose of completing Tenant's Improvements.
                                         Landlord agrees to obtain no less than three (3) different competitive bids to construct
                                         Tenant's Improvements, at Tenant's cost and expense; provided, however, Landlord shall
                                         provide Tenant with an allowance up to $10.00 per rentable square foot
                                         ("Finish Allowance") which allowance shall be for Tenant's Improvements
                                         only and which allowance shall be disbursed by Landlord, from time to time, for payment
                                         of (in the following priority) (i) the contract sum required to be paid to the general
                                         contractor engaged to construct Tenant's Improvements (the "Contract Sum"),
                                         (ii) the fees of the preparer of the Construction Plans and (iii) payment of the Construction
                                         Management Fee (hereinafter defined). Upon completion of Tenant's Improvements and in
                                         consideration of Landlord administering the construction of Tenant's Improvements, Tenant
                                         agrees to pay Landlord a fee equal to three percent (3%)
                                         of the Contract Sum to construct Tenant's Improvements ("Construction Management
                                         Fee") (the foregoing costs are collectively referred to as the "Permitted
                                         Costs"). In the event Tenant utilizes less than the Tenant Improvement Allowance,
                                         Tenant shall be entitled to a rental credit of up to $5.00 per square foot or to be used
                                         towards hard and soft costs, including architecture, design, construction, engineering
                                         and professional fees, moving expenses, rent credit, furniture and voice and data cabling.



 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two


Date: March
2015


 





    	33



    	 



    

 


		2.2	Excess Costs. If the sum
                                         of the Permitted Costs exceeds the Finish Allowance, then Tenant shall pay all such excess
                                         costs ("Excess Costs"), provided, however, Landlord will, prior to the
                                         commencement of construction of Tenant's Improvements, advise Tenant of the Excess Costs,
                                         if any, and the Contract Sum. Tenant shall have two (2) business days from and after
                                         the receipt of such advice within which to approve or disapprove the Contract Sum and
                                         Excess Costs. If Tenant fails to approve same by the expiration of the second such business
                                         day, then Tenant shall be deemed to have approved the proposed Contract Sum and Excess
                                         Costs. If Tenant disapproves the Contract Sum and Excess Costs within such two (2) business
                                         day period, then Tenant shall either reduce the scope of Tenant's Improvements such that
                                         there shall be no Excess Costs or, at Tenant's option, Landlord shall obtain two (2)
                                         additional bids, provided that each day beyond such two (2) business day period and until
                                         the rebid is accepted by Tenant shall constitute a Tenant Delay hereunder. Subject to
                                         the last sentence of this subsection, the foregoing process shall continue until a Contract
                                         Sum and resulting Excess Costs, if any, are accepted or deemed accepted by Tenant. Landlord
                                         and Tenant must approve (or be deemed to have approved) the Contract Sum for the construction
                                         of Tenant's Improvements in writing prior to the commencement of construction.



 


		2.3	Liens Arising from Excess Costs.
                                         Tenant agrees to keep the Premises free from any liens arising out of nonpayment of Excess
                                         Costs. In the event that any such lien is filed and Tenant, within ten (10) days following
                                         such filing fails to cause same to be released of record by payment or posting of a proper
                                         bond, Landlord shall have, in addition to all other remedies provided herein and by law,
                                         the right, but not the obligation, to cause the same to be released by such means as
                                         it in its sole discretion deems proper, including payment of or defense against the claim
                                         giving rise to such lien. All sums paid by Landlord in connection therewith shall constitute
                                         Rent under the Lease and a demand obligation of Tenant to Landlord and such obligation
                                         shall bear interest at the rate equal to the lesser of the maximum lawful rate or twelve
                                         percent (12%) per annum from the date of payment by Landlord until the date paid
                                         by Tenant.



 


		2.4	Construction Deposit. Tenant
                                         shall remit to Landlord an amount ("Prepayment") equal to the projected
                                         Excess Costs, if any, within five (5) working days after commencement of construction
                                         by Landlord. On or prior to the Commencement Date, Tenant shall deliver to Landlord the
                                         actual Excess Costs, minus the Prepayment previously paid. Failure by Tenant to timely
                                         tender to Landlord the full Prepayment shall permit Landlord to stop all work until the
                                         Prepayment is received. All sums due Landlord under this Work Letter shall be considered
                                         Rent under the terms of the Lease and nonpayment shall constitute a Default under the
                                         Lease and entitle Landlord to any and all remedies specified in the Lease.



 


		3.	Delays.
                                         Intentionally deleted.



 


		4.	Substantial
                                         Completion and Punch List. The terms "Substantial Completion"
                                         and "Substantially Complete" as applicable, shall mean when Tenant's
                                         Improvements are sufficiently completed in accordance with the Construction Plans so
                                         that Tenant can reasonably use the Premises for the Permitted Use (as described in Item
                                         11 of the Basic Office Lease Information). When Landlord considers Tenant's Improvements
                                         to be Substantially Complete, Landlord will notify Tenant and within two (2) business
                                         days thereafter, Landlord's representative and Tenant's representative shall conduct
                                         a walk-through of the Premises and identify any necessary touch-up work repairs and minor
                                         completion items as are necessary for final completion of Tenant's Improvements. Neither
                                         Landlord's representative nor Tenant's representative shall unreasonably withhold his
                                         agreement on the Punch List Items. Landlord will use reasonable efforts to cause the
                                         contractor to complete all Punch List Items within thirty (30) days after Landlord's
                                         and Tenant's agreement thereon.



 


		5.	Tenant's
                                         Contractors. If Tenant should desire to authorize its agent to do so prior to
                                         the Commencement Date of the Lease, to perform approved work not requested of the Landlord,
                                         Landlord shall permit such entry upon, and subject to, the following terms and conditions:



 


		(a)	Tenant shall use only such contractors
                                         which Landlord shall approve in its reasonable discretion and Landlord shall have approved
                                         the plans to be utilized by Tenant, which approval will not be unreasonably withheld;
                                         and



 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two


Date: March
2015


 





    	34



    	 



    

 


		(b)	Tenant, its contractors, workmen,
                                         mechanics, engineers, space planners or such others as may enter the Premises (collectively,
                                         "Tenant's Contractors"), shall work in harmony with and do not in any
                                         way disturb or interfere with Landlord's space planners, architects, engineers, contractors,
                                         workmen, mechanics or other agents or independent contractors in the performance of their
                                         work (collectively, "Landlord's Contractors"), it being understood and
                                         agreed that if entry of Tenant or Tenant's Contractors would cause, has caused or is
                                         causing a material disturbance to Landlord or Landlord's Contractors, then Landlord may,
                                         with notice, refuse admittance to Tenant or Tenant's Contractors causing such disturbance;
                                         and



 


		(c)	Tenant, Tenant's Contractors and
                                         other agents shall provide Landlord sufficient evidence that each is covered under such
                                         Worker's Compensation, public liability and property damage insurance as Landlord may
                                         reasonably request for its protection.



 


Landlord shall
not be liable for any injury, loss or damage to any of Tenant's installations or decorations made prior to the Commencement Date
and not installed by Landlord. Tenant shall indemnify and hold harmless Landlord and Landlord's Contractors from and against any
and all costs, expenses, claims, liabilities and causes of action arising out of or in connection with work performed in the Premises
by or on behalf of Tenant (but excluding work performed by Landlord or Landlord's Contractors). Landlord is not responsible for
the function and maintenance of Tenant's Improvements which are different than Landlord's standard improvements at the Property
or improvements, equipment, cabinets or fixtures not installed by Landlord. Such entry by Tenant and Tenant's Contractors pursuant
to this Section 5 shall be deemed to be under all of the terms, covenants, provisions and conditions of the Lease except the covenant
to pay Rent.


  


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two


Date: March
2015



 





    	35



    	 



    

 


EXHIBIT E


 


ACCEPTANCE OF PREMISES MEMORANDUM


 


[SAMPLE FORM]


 


This Acceptance of Premises Memorandum is
being executed pursuant to that certain Lease Agreement (the "Lease') dated the   ____ day of                       ,
20________ between GP Park II, LLC ("Landlord") and ________________________________ ("Tenant"),
pursuant to which Landlord leased to Tenant and Tenant leased from Landlord certain space in the office building located at 5700
Granite Parkway, Plano, Texas 75024 (the "Building"). Landlord and Tenant hereby agree that:


 


		1.	Except for the Punch
                                         List Items (as shown on the attached Punch List), Landlord has fully completed the construction
                                         work required under the terms of the Lease and the Work Letter attached thereto.



 


		2.	The Premises are
                                         tenantable, Landlord has no further obligation for construction (except with respect
                                         to Punch List Items) and Tenant acknowledges that the Building, the Premises and, except
                                         for the Punch List Items, the Tenant's Improvements are satisfactory in all respects,
                                         and are suitable for the Permitted Use.



 


		3.	The Commencement
                                         Date of the Lease is the _____  day of __________________________, 20 ___. If the date the Commencement
                                         Date set forth in the Base Lease Information is different from the date set forth in
                                         the preceding sentence, then the Basic Lease Information is hereby amended to be the
                                         Commencement Date set forth in the preceding sentence.



 


		4.	The Expiration Date
                                         of the Lease is the  _____ day of  ___________________________, 20 ___. If the date set forth
                                         in the Base Information Page of the Lease is different from the date set forth in the
                                         preceding sentence, then the Expiration Date set forth in the Basic Lease Information
                                         is hereby amended to be the Expiration Date set forth in the preceding sentence.



 


		5.	Tenant acknowledges
                                         receipt of the current Rules and Regulations for the Building.



 


		6.	All capitalized
                                         terms not defined herein shall have the meaning assigned to them in the Lease.



 


Agreed and Executed this                      day
of                                         
, 20   .


 


	 	LANDLORD:	 
	 	 	 
	 	GP Park II, LLC	 
	 	 	 
	 	By: Granite Properties, Inc., its Manager	 
	 	 	 	 
	 	By:	 	 
	 	Name:	 	 
	 	Title:	 	 
	 	 	 	 
	 	TENANT:	 
	 	 	 
	 	 	 
	 	 	 	 
	 	By:	DRAFT ONLY	 
	 	Name:	 	 
	 	Title:	 	 


 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two


Date: March
2015


 





    	36



    	 



    

 


EXHIBIT F


 


PARKING
agreement


 


1.          Throughout
the Term of this Lease, Tenant shall lease from Landlord forty-six (46) parking permits in the Garage. Of these, zero (0)
shall be reserved parking permits and  forty-six (46) shall be unreserved parking permits, and each of which parking
permits shall be leased for the entirety of the Term.


 


2.          For
each such parking permit, Tenant shall pay Landlord as monthly rent ("Parking Rent") $75.00 per month plus taxes,
if applicable, for each reserved parking permit and $0.00 per month for each unreserved parking permit plus taxes, if applicable.
In the event Tenant leases parking permits in addition to those described in paragraph 1, Parking Rent shall be the prevailing
market rent for such reserved or unreserved parking permit.


 


3.          The
Parking Rent shall be payable in accordance with the policies established by Landlord (or its agent) from time to time for payment
of Parking Rent in the Garage. Tenant shall indemnify and hold harmless Landlord from and against all claims, losses, liabilities,
damages, costs and expenses (including, but not limited to, attorneys' fees and court costs) arising or alleged to arise out of
Tenant's use of any such parking spaces. Tenant shall have no further rights to (a) any parking permit not taken at the beginning
of the original Term or (b) any parking permit taken at the beginning of the original Term and thereafter released by Tenant with
Landlord's consent or terminated by Landlord for failure to pay Parking Rent or to comply with the other terms and conditions
for the leasing of such parking permit imposed by Landlord. Upon the termination of this Lease, Tenant's rights to the parking
permits then being leased to Tenant hereunder shall terminate. In the event any of the above parking spaces are or become unavailable
at any time or from time to time throughout the Term, whether due to casualty or any other cause, the Lease shall continue in
full force and effect, and Tenant's sole remedy shall be an abatement of Parking Rent for those parking spaces rendered unavailable,
which abatement shall continue until such time as said parking spaces, or substitutes therefor, again become available, it being
expressly agreed and understood that Landlord shall have no duty to provide substitute parking spaces for those spaces rendered
unavailable; provided, however, that Landlord agrees to use reasonable efforts to restore the Garage to the condition immediately
preceding such damage as soon as reasonably practicable.


 


4.          Tenant
agrees to comply with all reasonable rules and regulations now or hereafter established by Landlord relating to the use of the
Garage by contract parking patrons. A condition of any parking shall be compliance by the parking patron with Garage rules and
regulations, including any sticker or other identification system established by Landlord. The following rules and regulations
are in effect until notice is given to Tenant of any change. Landlord may refuse to permit any person who violates the rules to
park in the Garage, and any violation of the rules shall subject the car to removal.


 


RULES AND REGULATIONS


 


		1.	Cars must be parked
                                         entirely within the stall lines painted on the floor.



 


		2.	All directional
                                         signs and arrows must be observed.



 


		3.	The speed limit
                                         shall be 5 miles per hour.



 


		4.	Parking is prohibited:



 


(a)     
in areas not striped for parking


(b)     in
aisles


(c)     where
"No Parking" signs are posted


(d)     in
cross hatched areas


(e)     in
such other areas as may be designated by Landlord or Landlord's agent(s).


(f)     by tenants
in Visitor, Delivery, Handicapped (except for handicapped tenants) or other specially designated parking areas


 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two


Date: March
2015


 





    	37



    	 



    

 


5.          Parking
stickers or any other device or form of identification supplied by Landlord shall remain the property of the Landlord and shall
not be transferable. There will be a replacement charge payable by Tenant equal to the amount posted from time to time by Landlord
for loss of any magnetic parking card or parking sticker.


 


6.          Garage
managers or attendants are not authorized to make or allow any exceptions to these Rules and Regulations.


 


7.          Every
parker is required to park and lock his own car. All responsibility for damage to cars or persons is assumed by the parker.


 


8.          No intermediate or
full-size cars shall be parked in parking spaces limited to compact cars.


 


9.          All motorcycles/motorized
bicycles are to be parked in the designated motorcycle area, and will be removed from the property if not in the designated area.


 


Failure to (a) promptly
pay the Parking Rent required hereunder within five (5) business days after the date when due, no notice of any such failure being
required, or (b) persistent failure on the part of Tenant or Tenant's designated parkers to observe the rules and regulations
above shall give Landlord the right to terminate Tenant's right to use the Garage. No such termination shall create any liability
on Landlord or be deemed to interfere with Tenant's right to quiet possession of the Premises.


 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two


Date: March
2015


 





    	38



    	 



    

 


RIDER 1


 


RENEWAL OPTION


 


		1.	If, and only if,
                                         on the Expiration Date and the date Tenant notifies Landlord of its intention to renew
                                         the term of this Lease (as provided below), (i) Tenant is not in default under this Lease,
                                         (ii) Tenant then occupies and the Premises then consist of at least all the original
                                         Premises and (iii) this Lease is in full force and effect, then Tenant, but not any assignee
                                         or subtenant of Tenant, shall have and may exercise an option to renew this Lease for
                                         one additional term of  five  (5) years ("Renewal Term")
                                         upon the same terms and conditions contained in this Lease with the exceptions that (x)
                                         this Lease shall not be further available for renewal and (y) the rental for the Renewal
                                         Term shall be the "Renewal Rental Rate",. The Renewal Rental Rate is
                                         hereby defined to mean the then prevailing rents (including, without limitation, those
                                         similar to the Basic Annual Rent and Additional Rent) payable by tenants having a credit
                                         standing substantially similar to that of Tenant, for properties of equivalent quality,
                                         size, age of building, office park type setting, utility and location as the Premises,
                                         including any additions thereto, located within the area described below and leased for
                                         a renewal term approximately equal to the Renewal Term. The Renewal Rental Rate will
                                         take into consideration the tenant inducements including free rent, tenant improvements,
                                         parking charges for reserved and unreserved, expenses, commissions, lease assumptions,
                                         base year or triple net lease and other considerations/concessions being provided in
                                         the market but not utilized by Tenant, for tenants of comparable quality, size, and net
                                         worth to that of Tenant. offered in the transactions considered by Landlord in determining
                                         the Renewal Rental Rate.



 


		2.	If Tenant desires
                                         to renew this Lease, Tenant must notify Landlord in writing of its intention to renew
                                         on or before the date which is at least nine (9) months prior to the Expiration
                                         Date. Landlord shall, within the next sixty (60) days, notify Tenant in writing of Landlord's
                                         determination of the Renewal Rental Rate and Tenant shall, within the next twenty (20)
                                         days following receipt of Landlord's determination of the Renewal Rental Rate, notify
                                         Landlord in writing of Tenant's acceptance or rejection of Landlord's determination of
                                         the Renewal Rental Rate. If Tenant timely notifies Landlord of Tenant's acceptance of
                                         Landlord's determination of the Renewal Rental Rate, this Lease shall be extended as
                                         provided herein and Landlord and Tenant shall enter into an amendment to this Lease to
                                         reflect the extension of the term and changes in Rent in accordance with this Rider.
                                         If (x) Tenant timely notifies Landlord in writing of Tenant's rejection of Landlord's
                                         determination of the Renewal Rental Rate or (y) Tenant does not notify Landlord in writing
                                         of Tenant's acceptance or rejection of Landlord's determination of the Renewal Rental
                                         Rate within such twenty (20) day period, this Lease shall end on the Expiration Date
                                         and Landlord shall have no further obligations or liability hereunder.



 


		3.	The area with respect
                                         to which the Renewal Rental Rate will be determined is Legacy Frisco area.



 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two


Date: March
2015


 





    	39



    	 



    

 


RIDER 2


 


RIGHT TO SUBLEASE OR ASSIGN TO AFFILIATE


 


Notwithstanding the prohibition against assignment
and subleasing containing in Article 11 of the Lease , Tenant may, without the prior written consent of Landlord, but only after
giving Landlord at lease thirty (30) days prior written notice (which notice shall include the identity of the Affiliate [hereinafter
defined] and the relationship of the Affiliate to Tenant), sublet the Premises or any part thereof to an Affiliate or assign this
Lease to an Affiliate or permit occupancy of any portion of the Premises by an Affiliate. If Tenant is a partnership, the term
"Affiliate" shall mean (i) any corporation which, directly or indirectly, controls or is controlled by or is under common
control with the general Partner of Tenant, (ii) any corporation not less than fifty percent (50%) of whose outstanding stock
shall at the time be owned directly or indirectly by Tenant's general partner, or (iii) any partnership or joint venture in which
Tenant or the general partner of Tenant is a general partner or joint venturer (with joint and several liability for all of the
partnership's or venture's obligation). If Tenant is a corporation or individual, the term "Affiliate" shall mean (i)
any corporation which, directly or indirectly, controls or is controlled by or is under common control with Tenant, or (ii) any
corporation not less than fifty percent (50%) of whose outstanding stock shall, at the time, be owned directly or indirectly by
Tenant or Tenant's Parent corporation. For purposes of this Rider, "control" shall mean the possession, directly or
indirectly, of the power to direct or cause the direction of the management and polices of such corporation, whether through the
ownership of voting securities or by contract or otherwise and ownership of the liabilities, losses, profits and tax benefits
for such entity. In no event shall any assignment or subletting ever release Tenant from any obligation or liability hereunder.


 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two


Date: March
2015


 





    	40



    	 



    

 


RIDER 3


 


CAP ON CERTAIN OPERATING EXPENSES


 


For the purpose of determining Additional
Rent, Operating Expenses (exclusive of the Non-Capped Operating Expenses, as hereinafter defined) for any calendar year shall
not be increased over the amount of Operating Expenses (exclusive of Non-Capped Operating Expenses) during the calendar year in
which the term of this Lease commences by more than seven percent (7%) per year on a cumulative basis, compounded
annually. It is understood and agreed that there shall be no cap on Non-Capped Operating Expenses, which are hereby defined to
mean all Utility Expenses, Real Estate Taxes and Insurance Premiums.


 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two


Date: March
2015


 





    	41



    	 



    

 


RIDER 4 


 


RIGHT
TO AUDIT


 


		(a)	Landlord
                                         will cause adequate books and records to be maintained in the Plano, Texas area to permit
                                         Tenant to verify computations of Operating Expenses and other amounts relevant to Tenant's
                                         obligations under this Lease in accordance with the provisions hereafter set forth. Unless
                                         Tenant takes written exception to any item within forty-five (45) days after the furnishing
                                         of an annual statement or a statement delivered for the final Additional Rent period,
                                         such statement shall be considered as final and accepted by Tenant. Within ten (10) business
                                         days following a request from Tenant, Landlord shall furnish explanations in reasonable
                                         detail for any computation made under this Lease. If Tenant questions such computation
                                         following receipt of such explanation, Tenant shall give notice thereof to Landlord,
                                         and Landlord and Tenant shall, within twenty (20) business days thereafter, discuss,
                                         in good faith, such computation, and provide sufficient back up documentation to Tenant
                                         to support Landlord's assertions. im.grusd@gmail.com.
                                         



 


		(b)	In the event the amount of Tenant's
                                         Share of Operating Expenses increases by five percent (5%) or more over the prior year,
                                         Tenant shall have the right to perform, at Tenant's expense, an audit of Landlord's books
                                         and records to verify Landlord's calculation of the actual Operating Expenses, provided
                                         that such audit shall be conducted by an unrelated, third party who is not a tenant in
                                         the Building and is not compensated on a contingent fee basis. Any such audit shall be
                                         conducted, if at all, (i) no later than one hundred twenty (120) days after delivery
                                         to Tenant of the annual statement in question, and within sixty (60) days after Landlord's
                                         receipt of prior written notice that Tenant has decided to perform an audit, (ii) during
                                         Landlord's normal business hours, (iii) at the place in Dallas, Texas where Landlord
                                         maintains its records, and (iv) on a confidential basis. The auditor's report reflecting
                                         the results of such audit shall properly apply the definition of "Operating Expenses"
                                         set forth in the Lease and includes a certification that it was prepared in accordance
                                         with such definition of "Operating Expenses". Prior to finalizing its report,
                                         Tenant's auditor shall present its findings in draft form to Landlord for review. Landlord
                                         may discuss the findings with the auditor and offer comments, explanations and suggested
                                         changes to the report as Landlord believes appropriate. Tenant's auditor's final report
                                         and determinations set forth therein ("Tenant's Auditor's Report"), if prepared
                                         in accordance with this subparagraph and if updated as necessary to properly incorporate
                                         Landlord's comments, explanations and suggested changes, shall be binding on Landlord
                                         and Tenant. If the audit report reflects an overcharge in the total actual Operating
                                         Expenses of more than five percent (5%) in the aggregate for such audited calendar year,
                                         then Landlord shall reimburse Tenant for all actual reasonable costs (excluding travel
                                         costs) incurred by Tenant in connection with such audit. If the audit report reflects
                                         that the actual Operating Expenses were overcharged or undercharged in the audited calendar
                                         year, Tenant shall, within twenty (30) days after receipt of such report, pay to Landlord
                                         the amount of any underpayment or, if applicable, Landlord shall pay to Tenant the amount
                                         of any overpayment.



 


Tenant Name: I. D Systems, Inc. Represented
by Real Estate Strategies Corporation and Transwestern


Building Name: Granite Park Two


Date: March
2015


 





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