EX-10.14



 Exhibit 10.14 

LEASE AMENDMENT AGREEMENT 
 THIS LEASE
AMENDMENT AGREEMENT dated the 25th day of August, 2014 
 BETWEEN: 

MORGUARD PERFORMANCE COURT LIMITED 

a company incorporated under the laws of the Province of Ontario 

(the “Landlord”) 
 AND: 

SHOPIFY INC. 
 a company
incorporated under the laws of Canada 
 (the “Tenant”) 

WHEREAS: 
  

	A.	By a lease dated the 28th day of February, 2014, (the “Lease”) the Landlord leased to the Tenant for and during a term of 11 years in respect of
Floors 6, 7, 8 and 9, and 10 years and 6 months in respect of Floors 10 and 11, in each case expiring on the 31st day of December, 2025, certain premises as more particularly described in the
Lease, located at 150 Elgin Street, in the City of Ottawa, in the Province of Ontario. 

  

	B.	Capitalized terms used in this agreement have the same meanings as are respectively ascribed thereto in the Lease, except as herein otherwise expressly provided. 


 

	D.	The parties hereto desire to amend certain provisions of the Lease: 

 NOW THEREFORE THIS LEASE
AMENDMENT AGREEMENT WITNESSES that in consideration of the sum of $10.00 now paid by each party hereto to the other (the receipt and sufficiency whereof is hereby acknowledged), the parties hereto covenant and agree that the Lease be and the
same is hereby amended effective the 1st day of January, 2015 (the “Effective Date”) as follows: 

1. Item 5. RENTABLE AREA OF LEASED PREMISES of the Term Sheet is hereby deleted and the following is substituted therefor: 

 

	 	“5.	RENTABLE AREA OF LEASED PREMISES 

 A. January 1, 2015 to June 30, 2015
– Floors 6, 7, 8 and 9 (Initial Premises) 
 72,150 square feet subject to adjustment in accordance with the definition of Rentable
Area and Section 4.08. the Rentable Area of the Leased Premises shall be calculated in accordance with the BOMA ANSI standards ANSI Z651.1-1996. 

B. July 1, 2015 to December 31, 2025 – Floors 6, 7, 8, 9, 10 and 11 (Final Premises) 

104,984 square feet subject to adjustment in accordance with the definition of Rentable Area and Section 4.08. the Rentable Area of the
Leased Premises shall be calculated in accordance with the BOMA ANSI standards ANSI Z651.1-1996. 
 The approximate Rentable Area of the
Additional Premises is 32,834 square feet” 

  

			
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 2. Item 8. BASIC RENT of the Term Sheet is hereby deleted and the following is substituted therefor:

  

	 	“8.	BASIC RENT 

  

													
	 Period
	  	Annual Basic
Rent Per Square
Foot of Rentable
Area	 	  	Annual Basic
Rent	 	  	Monthly
Installment	 
	 January 1, 2015 to June 30, 2015
	  	$	25.00	  	  	$	1,803,750.00	  	  	$	150,312.50	  
	 July 1, 2015 to December 31, 2016
	  	$	25.00	  	  	$	2,624,600.00	  	  	$	218,716.67	  
	 January 1, 2017 to December 31, 2018
	  	$	26.00	  	  	$	2,729,584.00	  	  	$	227,465.33	  
	 January 1, 2019 to December 31, 2019
	  	$	26.50	  	  	$	2,782,076.00	  	  	$	231,839.67	  
	 January 1, 2020 to December 31, 2020
	  	$	27.00	  	  	$	2,834,568.00	  	  	$	236,214.00	  
	 January 1, 2021 to December 31, 2021
	  	$	27.50	  	  	$	2,887,060.00	  	  	$	240,588.33	  
	 January 1, 2022 to December 31, 2022
	  	$	28.00	  	  	$	2,939,552.00	  	  	$	244,962.67	  
	 January 1, 2023 to December 31, 2023
	  	$	28.50	  	  	$	2,992,044.00	  	  	$	249,337.00	  
	 January 1, 2024 to December 31, 2025
	  	$	30.00	  	  	$	3,149,520.00	  	  	$	262,460.00	  

 Lease Remains in Force - Except with respect to the amendments contained herein, all other terms and conditions
contained in the Lease shall remain unamended and in full force and effect. 

  

			
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 Binding Effect - This agreement shall enure to the benefit of and be binding upon the successors and
assigns of the Landlord and the heirs, executors and administrators and the permitted successors and assigns of the Tenant. 
 IN WITNESS WHEREOF the
parties hereto have executed this agreement as of the date first above written. 
  

			
	 LANDLORD:

MORGUARD PERFORMANCE COURT LIMITED

		
	By:	 	 /s/ Paul Miatello 

	Name:	 	Paul Miatello
	Title:	 	Chief Financial Officer                             c/s
		
	By:	 	 /s/ Beverly G. Flynn 

	Name:	 	Beverly G. Flynn
	Title:	 	Secretary
	
	We have authority to bind the corporation


  

	
	TENANT:
	SHOPIFY INC.

  

									
	WITNESS to signature of Tenant:	 		 		 	
					
	Signature:	 	 /s/ Michael Gagnon
	 		 	By:	 	 /s/ Russell Jones

		 		 		 	Name:	 	Russell Jones
	Print Name:	 	 Michael Gagnon
	 		 	Title:	 	CFO
                                         
                               c/s
				
	Address:	 	 117 Murray Street
	 		 	I/We have authority to bind the corporation
		 		 		 		 	
		 	 Ottawa, ON
	 		 		 	
				
	Occupation:	 	 Controller
	 		 	


  

			
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