Document:

Ireland Inc. - Exhibit 10.15 - Filed by newsfilecorp.com

OFFICER NON-QUALIFIED STOCK OPTION AGREEMENT
OF

IRELAND INC. 
A Nevada Corporation 

THIS AGREEMENT is made between IRELAND INC., a
Nevada corporation (hereinafter referred to as the "Company"), and MARK BRENNAN xxxxxxxxxxxxx (hereinafter referred to as the “Optionee”), an
officer of the Company, effective as of December 27, 2016 (the “Grant Date”).

1.           
 Options Granted. The Company hereby grants the Optionee non-qualified
stock options to purchase an aggregate of Six Hundred Thousand (6000,000)
shares of the Company’s Common Stock exercisable at a price of $0.08 per
share (the “Exercise Price”) for a term commencing on the vesting dates set out
below (the “Vesting Date”) and expiring at 5:00 pm (Pacific Time) on the fifth
(5th) year anniversary of the respective Vesting Date (the “Expiration Date”),
subject to termination as set forth herein:

	Number of
      Options to 	 
	 
  
	Vest 	Vesting Date 	Expiration Date 
	300,000 	June 30, 2017 	June 30, 2022 
	150,000 	September 30, 2017 	September 30, 2022 
	150,000 	December 31, 2017 	December 31, 2022 
	600,000
    	Total 	 
    

No option may be exercised unless the option has vested. The
vesting of all options will be cumulative. All options which have not vested
will terminate on the date of termination of the options in accordance with this
Agreement. 

2.             Method
of Exercise. The options may be exercised to the extent they have vested and
become exercisable and not yet been forfeited or terminated by written notice
delivered to the Company at its principal place of business, stating the number
of shares for which the option is being exercised. The notice must be
accompanied by a check or other methods of payment acceptable to the Plan
Administrator for the amount of the purchase price, and comply with all the
requirements of the Company’s 2007 Stock Incentive Plan dated March 27, 2007, a
copy of which has been provided to the Optionee. 

3.             Compliance
with Laws. Notwithstanding any other provision of this Agreement, the
exercise of the options is expressly made subject to compliance with all
applicable laws, regulations, rules or orders of any governmental or regulatory
authority. Without limiting the generality of the forgoing, the exercise of the
options, and the Company’s obligation to issue shares, or certificates
representing shares, of the Company’s Common Stock is made subject to there
being an effective registration statement filed with the United States
Securities and Exchange Commission under the Securities Act of 1933, as amended
(the “Securities Act”) with respect thereto, or there being an available
exemption from the registration requirements of the Securities Act and any
applicable state securities laws. If the options are exercised pursuant to an
exemption from the registration requirements of the Securities Act and any
applicable state securities laws, the certificates representing the shares
issuable to the Optionee will be endorsed with legends setting forth transfer
restrictions under the Securities Act and any applicable state securities laws,
and notations will be entered in the registers of the Company with respect to
such restrictions, in such form as the Company may deem necessary or advisable
to ensure compliance with the provisions of the Securities Act, the rules and
regulations promulgated thereunder, and any applicable state securities laws.

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4.             Capital
Adjustments. The existence of the options shall not affect in any way the
right or power of the Company or its stockholders to: (1) make or authorize any
or all adjustments, recapitalizations, reorganizations, or other changes in the
Company's capital structure or its business; (2) enter into any merger or
consolidation; (3) issue any bonds, debentures, preferred or prior preference
stocks ahead of or affecting the common stock or the rights thereof, (4) issue
any securities convertible into any common stock, (5) issue any rights, options,
or warrants to purchase any common stock, (6) dissolve or liquidate the Company,
(7) sell or transfer all or any part of its assets or business, or (8) take any
other corporate act or proceedings, whether of a similar character or otherwise.

5.             Adjustments
for Reorganizations and Recapitalizations. If there shall, prior to the
exercise of any of the options provided for by this Agreement, be any stock
dividend, stock split, spin-off, combination or exchange of shares,
recapitalization, merger, consolidation, distribution to stockholders (other
than a normal cash dividend) or other change in the Company’s corporate or
capital structure that results in (a) the Company’s outstanding shares of common
stock (or any securities exchanged therefore or received in their place) being
exchanged for a different number or kind of securities of the Company or any
other corporation, or (b) new, different or additional securities of the Company
or of any other corporation being received by the holders of shares of the
Company’s common stock, then there shall automatically be an adjustment in
either the number of shares which may be purchased pursuant hereto, the type of
shares which may be purchased pursuant hereto or the price at which such shares
may be purchased, or any combination thereof, so that the rights evidenced
hereby shall thereafter as reasonably as possible be equivalent to those
originally granted hereby. The Company shall have the sole and exclusive power
to make such adjustments as it considers necessary and desirable. 

6.             Transfer
of the Options. During the Optionee's lifetime, the options shall be
exercisable only by the Optionee. The options shall not be transferable by the
Optionee other than by the laws of descent and distribution upon the Optionee's
death. In the event of the Optionee's death during the term of this Agreement,
the Optionee's personal representatives may exercise any portion of the options
that remains vested and unexercised at the time of the Optionee's death,
provided that any such exercise must be made, if at all, during the period
within six (6) months after the Optionee's death, and subject to the option
termination date specified in Section 7. 

7.             Changes
in Control. 

	(a) 	
      Notwithstanding any other provision in this Agreement to
      the contrary, all unvested options outstanding under this Agreement shall
      immediately vest and become exercisable upon a Change in
Control.

	 	 	 
	(b) 	
      “Change in Control” means any of the following
    events:

	 	 	 
		(i) 	
      Approval by the stockholders of the Company of a merger
      or consolidation of the Company with any other corporation, other than a
      merger or consolidation that would result in the voting securities of the
      Company outstanding immediately prior to such merger or consolidation
      continuing to represent (either by remaining outstanding or being
      converted into voting securities of the surviving entity) more than fifty
      percent (50%) of the total voting power of the voting securities of the
      Company, the surviving entity or any parent thereof outstanding
      immediately after such merger or consolidation;

	 	 	 
		(ii) 	
      Approval by the stockholders of the Company of (i) a plan
      of complete liquidation or dissolution of the company or (ii) a sale by
      the Company of all of its property and assets pursuant to Section 78.565
      of the Nevada Revised Statutes (the “NRS”); or

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	 	(iii) 	
      Any person or group of persons (as defined in Section
      13(d) and 14(d) of the Securities Exchange Act of 1934 (the “Exchange
      Act”)) together with its affiliates, but excluding (i) the Company or any
      of its subsidiaries; (ii) any employee benefit plan of the Company or
      (iii) a corporation or other entity owned, directly or indirectly, by the
      stockholders of the Company in substantially the same proportions as their
      ownership of stock of the Company (individually a “Person” and
      collectively, “Persons”) is or becomes, directly or indirectly, the
      beneficial owner (as defined in Rule 13d-3 promulgated under the Exchange
      Act) of 50% or more of the combined voting power of the Company’s then
      outstanding securities.

8.             Termination
of Option. 

	(a) 	
      The Optionee’s right to exercise any options that have
      vested and are exercisable shall terminate on the earliest of the
      following dates:

	 	 	 
		(i) 	
      The Expiration Date;

	 	 	 
		(ii) 	
      Subject to subsections (c) and (d) below, the date which
      is six (6) months from the date on which the Optionee ceases to act as an
      officer of the Company or any subsidiary of the Company;

	 	 	 
		(iii) 	
      In the event of the termination of the Optionee as an
      officer of the Company or any subsidiary of the Company as a result of a
      breach of the Optionee’s obligations to the Company or any subsidiary of
      the Company, or as a result of any dishonesty, fraud, misconduct, the
      unauthorized use or disclosure of confidential information or trade
      secrets, or conviction or confession of a crime punishable by law (except
      minor violations) (each of which being a termination for “Cause”), the
      earliest date on which the Optionee is notified by the Company of such
      termination; and

	 	 	 
		(iv) 	
      The date which is six (6) months from the date of the
      Optionee’s death or the date the Optionee is determined by the Company to
      be unable to perform his or her duties as an officer of the Company or any
      subsidiary of the Company as a result of any mental or physical disability
      that is expected to result in death or that is expected to last for a
      continuous period of twelve (12) months or more (the “Disability
      Determination Date”).

	(b) 	
      The Optionee’s right to exercise any options that have
      not vested and are not exercisable shall terminate on the earliest of the
      following dates:

	 	 	 
		(i) 	
      The date the Optionee ceases to act as an officer of the
      Company or any subsidiary of the Company;

	 	 	 
		(ii) 	
      In the case of the termination of the Optionee as an
      officer of the Company or any subsidiary of the Company for Cause, on the
      earliest date on which the Optionee is notified by the Company of such
      termination; and

	 	 	 
		(iii) 	
      The date of the Optionee’s death or the Disability
      Determination Date, as applicable.

	(c) 	
      For purposes of this Section 7, the Optionee will be
      deemed not to have ceased to act as an officer of the Company or any
      subsidiary of the Company (the “Original Position”) if the Optionee
      continues to act as an employee, officer, director or consultant of the
      Company or a subsidiary of the Company in some other capacity immediately
      upon ceasing to act in the Original Position.

- 4 -

	(d) 	
      Also notwithstanding the forgoing, if the Optionee dies
      after he or she ceases to be an officerof the Company or any subsidiary of
      the Company for reasons other than a termination for Cause or for
      disability in accordance with the above, the Optionee’s right to exercise
      any options that have vested and are exercisable on the date the Optionee
      ceases to be an officer of the Company or any subsidiary of the Company
      shall terminate on the earliest of the Expiration Date and the date which
      is six (6) months after the date of death.

	9. 	
      Rights as Shareholder. The Optionee will not be
      deemed to be a holder of any shares pursuant to the exercise of these
      options until he or she pays the option price and a stock certificate is
      delivered to him or her for those shares. No adjustment shall be made for
      dividends or other rights for which the record date is prior to the date
      the stock certificate is delivered.

	 	 	 
	10. 	
      Integration with the Company’s 2007 Stock Incentive
      Plan. All of the terms and conditions of the Company’s 2007 Stock
      Incentive Plan, a copy of which has been provided to the Optionee, are
      specifically made a part of this Agreement and shall control with regard
      to the interpretation or construction of any provision that is
      inconsistent herewith. This Agreement will be governed by and construed in
      accordance with the laws of the State of Nevada.

	 	 	 
	11. 	
      Withholding Taxes. The Optionee authorizes the
      Company to withhold from any payments due to the Optionee by the Company,
      whether pursuant to this Agreement or otherwise, any amounts required to
      be withheld and remitted by the Company on account of any income and
      employment taxes resulting from this Agreement.

	 	 	 
	12. 	
      Miscellaneous.

	 	 	 
		(a) 	
      Any notice required or permitted to be given under this
      Agreement shall be in writing and may be delivered personally or by fax,
      or by prepaid registered post addressed to the parties at such address of
      which notice may be given by either of such parties. Any notice shall be
      deemed to have been received, if personally delivered or by fax, on the
      date of delivery, and, if mailed as aforesaid, then on the fifth business
      day after and excluding the day of mailing.

	 	 	 
		(b) 	
      This Agreement and the rights and obligations and
      relations of the parties shall be governed by and construed in accordance
      with the laws of the State of Nevada and the federal laws of the United
      States applicable therein (but without giving effect to any conflict of
      laws rules). The parties agree that the courts of the State of Nevada
      shall have jurisdiction to entertain any action or other legal proceedings
      based on any provisions of this Agreement. Each party attorns to the
      jurisdiction of the courts of the State of Nevada.

	 	 	 
		(c) 	
      Time shall be of the essence of this agreement and of
      every part of it and no extension or variation of this Agreement shall
      operate as a waiver of this provision.

	 	 	 
		(d) 	
      This Agreement may be executed in one or more
      counterparts, each of which so executed shall constitute an original and
      all of which together shall constitute one and the same
  agreement.

-- EXECUTION PAGE FOLLOWS -- 

- 5 -

IN WITNESS WHEREOF, the parties hereto have executed
this Agreement as of December 27, 2016. 

	IRELAND INC. 	 
	by its authorized signatory: 	 
	 	 
	/s/ Douglas D.
      G. Birnie 	 
	Name: Douglas D.G. Bernie 	 
	Title: President 	 
	 	 
	 	 
	  	 
	OPTIONEE: 	 
	 	 
	/s/ Mark
      Brennan 	 
	SIGNATURE OF OPTIONEE 	 
	 	 
	MARK
      BRENNAN 	 
	NAME OF OPTIONEE 	 
	 	 
	xxxxxxxxx 	 
	xxxxxxxxx 	 
	ADDRESS 	 
	 	 
	600,000 	 
	NUMBER OF OPTIONSOFFICE
LEASE

 

1001
SE WATER AVENUE

 

BETWEEN

 

Eastside
Distilling Inc,

a
Nevada corporation

 

Tenant

 

AND

 

Eastbank
Commerce Center, LLC,

an
Oregon limited liability company

 

Landlord

 

    	 	 	 

     

    

 

TABLE
OF CONTENTS

 

	1.	PREMISES;
    DELIVERY	1
	 	1.1	Lease
    of Premises.	1
	 	1.2	Delivery
    of Possession and Commencement.	1
	 	1.3	Early
    Access.	1
	 	1.4	Option
    to Extend Term.	2
	 	1.5	Right
    of First Offer.	3
	 	 	 	 
	2.	RENT
    PAYMENT	3
	 	2.1	Base
    Rent.	3
	 	2.2	Abated
    Rent and Other Inducement Provisions.	4
	 	 	 	 
	3.	SECURITY
    DEPOSIT	4
	 	 	 
	4.	USE	4
	 	4.1	Use.	4
	 	4.2	Equipment.	5
	 	4.3	Signs
    and Other Installations.	5
	 	4.4	Parking.	5
	 	 	 	 
	5.	UTILITIES,
    SERVICES, SECURITY	6
	 	5.1	Utilities
    and Services.	6
	 	5.2	Data
    and Information Sharing for Environmental Management and Extra Usage.	6
	 	5.3	Security
    Measures for the Premises.	6
	 	5.4	Fiber
    Optic.	7
	 	 	 	 
	6.	MAINTENANCE,
    REPAIR, ALTERATIONS	7
	 	6.1	Maintenance
    and Repair.	7
	 	6.2	Alterations.	8
	 	 	 	 
	7.	INDEMNITY,
    INSURANCE	9
	 	7.1	Indemnity.	9
	 	7.2	Insurance.	9
	 	 	 	 
	8.	DAMAGE,
    WAIVER OF SUBROGATION	10
	 	8.1	Fire
    or Casualty.	10
	 	8.2	Waiver
    of Subrogation.	10
	 	 	 	 
	9.	EMINENT
    DOMAIN	10
	 	 	 
	10.	ASSIGNMENT
    AND SUBLETTING	11
	 	 	 
	11.	DEFAULT,
    REMEDIES	11
	 	11.1	Default.	11
	 	11.2	Remedies
    for Default.	12
	 	11.3	Landlord’s
    Right To Cure Default.	12
	 	 	 	 
	12.	SURRENDER,
    HOLDOVER	12
	 	 	 
	13.	RULES
    AND REGULATIONS	13
	 	 	 
	14.	ACCESS	13
	 	14.1	Access.	13
	 	14.2	Furniture
    and Bulky Articles.	13

 

    	 	i 	 

     

    

 

	15.	Notices.	13
	 	 	 
	16.	SUBORDINATION
    AND ATTORNMENT, TRANSFER OF BUILDING, ESTOPPELS	14
	 	16.1	Subordination
    and Attornment.	14
	 	16.2	Transfer
    of Building.	14
	 	16.3	Estoppels.	14
	 	 	 	 
	17.	ATTORNEY
    FEES	14
	 	 	 	 
	18.	QUIET
    ENJOYMENT	14
	 	 	 	 
	19.	LIMITATION
    ON LIABILITY	15
	 	 	 	 
	20.	ADDITIONAL
    RENT	15
	 	20.1	Additional
    Rent: Operating Expense Adjustment.	15
	 	20.2	Disputes.	16
	 	 	 	 
	21.	HAZARDOUS
    MATERIALS	16
	 	 	 	 
	22.	MISCELLANEOUS	17
	 	22.1	Complete
    Agreement; No Implied Covenants.	17
	 	22.2	Governing
    Law.	17
	 	22.3	Partial
    Invalidity.	17
	 	22.4	Space
    Leased AS IS.	17
	 	22.5	Captions;
    Construction	17
	 	22.6	Nonwaiver.	17
	 	22.7	Consent.	17
	 	22.8	Force
    Majeure.	17
	 	22.9	Commissions.	18
	 	22.10	Successors.	18
	 	22.11	Financial
    Reports.	18
	 	22.12	Waiver
    of Jury Trial.	18
	 	22.13	Executive
    Order 13224.	18
	 	22.14	Relocation.	18
	 	22.15	Confidentiality.	18
	 	22.16	Building
    Name and Signage.	19
	 	22.17	Mold.	19
	 	22.18	Survival
    of Obligations.	19
	 	22.19	Amendments.	19
	 	22.20	Execution;
    Counterpart; Signature Transmitted.	19
	 	22.21	Intentionally
    Deleted.	19
	 	22.22	Exhibit.	19

 

    	 	ii 	 

     

    

 

OFFICE
LEASE

 

	Basic
    Lease Terms.	 
	 	 
	A.	EFFECTIVE
    DATE OF LEASE:	September
    29, 2017
	 	 	 
	B.	TENANT:	Eastside
    Distilling Inc,
	 	 	a
    Nevada corporation
	 	 	 
	 	Addresses
    For Notices:	Eastside
    Distilling Inc.
	 	 	Att’n
    General Manager
	 	 	1001
    SE Water Ave., Suite 390
	 	 	Portland,
    OR 97214
	 	 	Facsimile: _____________________
	 	 	Email:  _____________________
	 	 	 
	C.	LANDLORD:	Eastbank
    Commerce Center, LLC, 
	 	 	an
    Oregon limited liability company
	 	 	 
	 	 	Addresses
    For Notices:
	 	 	c/o
    Beam Development
	 	 	75
    SE Yamhill, Suite 201
	 	 	Portland,
    OR 97214
	 	 	Attn:
    Jonathan Malsin 
	 	 	Email: jonathan@beamdevelopment.com
	 	 	 
	 	 	With
    copy to:
	 	 	Brix
    Law LLP
	 	 	75
    SE Yamhill, Suite 202
	 	 	Portland,
    OR 97214
	 	 	Attn:
    Brad Miller 
	 	 	Email:  bmiller@brixlaw.com
	 	 	 
	 	 	Address
    for payment of Rent:
	 	 	c/o
    Beam Development
	 	 	75
    SE Yamhill, Suite 201
	 	 	Portland,
    OR 97214
	 	 	 
	D.	PREMISES:	Approximately
    3,050 rentable square feet with an address of 1001 SE Water Avenue, Suite 390, Portland, Oregon 97214, as shown on the attached
    Exhibit “A.”
	 	 	 
	E.	BUILDING:	The
    building located at 1001 SE Water Avenue, Portland, OR 97214 commonly known as the Eastbank Commerce Center.
	 	 	 
	F.	BUILDING
    AREA:	Approximately
    55,274 rentable square feet
	 	 	 
	G.
    	TENANT’S PROPORTIONATE

                                                                                SHARE: 5.52%.
	The
    percentage is obtained by dividing the rentable square feet of the Premises by the total number of rentable square feet of
    the Building. Landlord may modify Tenant’s Proportionate Share if the Building size is increased or decreased, as the
    case may be. 
	 	 	 
	H.	TENANT’S
                                         PERMITTED USE OF PREMISES:
	

    General office use, and for no other purpose.

 

    	 	i 	 

     

    

 

	I.	TERM
    OF LEASE:	Anticipated
    Commencement Date: October 15, 2017. Expiration Date: Last day of the month that is twenty-six (26) months after the Commencement
    Date (defined below) of the Lease.
	 	 	 
	J.	INITIAL
    MONTHLY BASE RENT:	$5,718.75.
	 	 	 

	K.	BASE
    RENT:	Period
    (Months)	Monthly
    Base Rent
	 	 	1-2	Abated
	 	 	3-12	$5,718.75
	 	 	13-24	$5,890.31
	 	 	25-26	$6,067.02
	 	 	 	 

	L.	PREPAID
    RENT:	$5,718.75,
    applicable to month three (3) after the Commencement Date.
	 	 	 
	M.	SECURITY
    DEPOSIT:	$6,067.02.
	 	 	 
	N.	PARKING:	During
    the Term of the Lease, Tenant shall be permitted to use four (4) reserved parking spaces. All parking arrangements with Tenant
    shall be addressed by separate agreement and shall be subject to the provisions of Section 4.4.
	 	 	 
	L.	BROKER(S):	Landlord
    was not represented by a real estate broker with respect to this Lease. Tim Budelman of Norris & Stevens, Inc. representing
    Tenant.

 

    	 	ii 	 

     

    

 

OFFICE
LEASE

 

For
valuable consideration, Landlord and Tenant covenant and agree as follows:

 

	1.	PREMISES;
                                         DELIVERY
	 	 
	1.1	Lease
                                         of Premises.

 

Landlord
leases to Tenant the Premises described in the Basic Lease Terms and shown as Suite 390 on Exhibit ”A” (the
“Premises”) subject to the terms and conditions of this Lease.

 

	1.2	Delivery
                                         of Possession and Commencement.

 

Should
Landlord be unable to deliver possession of the Premises on the Anticipated Commencement Date stated in the Basic Lease Terms,
Landlord shall have no liability to Tenant for delay in delivering possession. The term of the Lease shall commence on the date
the Premises are delivered to Tenant in the condition required under this Lease, which shall be deemed to have occurred when Landlord’s
Work (defined below) has been substantially completed (the “Commencement Date”). The Premises shall be delivered to
Tenant in “as is” condition and without any representation or warranty subject only to the improvements to be performed
by Landlord in accordance with Exhibit ”B” (“Landlord’s Work”). The terms “substantial
completion,” “substantially complete,” and words of similar import (whether or not spelled with initial capitals)
as used herein shall mean the date of substantial completion of Landlord’s Work such that Tenant may commence the installation
of any of Tenant’s equipment and occupy the Premises for the conduct of its business (subject to the completion of any additional
construction to be performed by Tenant). Landlord’s Work shall be deemed substantially complete notwithstanding the fact
that minor details of construction, mechanical adjustments or decorations which do not materially interfere with Tenant’s
use and enjoyment of the Premises remain to be performed (items normally referred to as “punch list” items). The existence
of any “punch list” items shall not postpone the Commencement Date. Tenant’s occupancy of the Premises shall
constitute conclusive acceptance of the amount of square footage stated herein, and of the condition of the Premises. The Expiration
Date of this Lease shall be the date stated in the Basic Lease Terms. Upon ascertaining the date of the Commencement Date, Landlord
shall deliver to Tenant a written confirmation in the form attached hereto as Exhibit “E” (“Lease Confirmation”)
of the Commencement Date. The Lease Confirmation shall be binding upon Tenant unless Tenant objects to the notice in writing delivered
to Landlord within five (5) days of Tenant’s receipt of said Lease Confirmation.

 

The
rentable areas of the Premises and the Building specified in Section 1.1 are approximate. Tenant is satisfied with Landlord’s
measurement of the rentable areas of the Premises and of the Building.

 

	1.3	Early
                                         Access.

 

Tenant
shall have the right to occupy the Premises approximately seven (7) days after the mutual execution of this Lease. Such early
access to the Premises by Tenant shall be solely for the purpose of installing Tenant’s cabling, furniture, fixtures, and
equipment in the Premises and shall be subject to the following conditions: (i) prior to Tenant’s entry into the Premises,
Tenant provides Landlord with proof that Tenant has the insurance that Tenant is required to maintain under this Lease, (ii) prior
to Tenant’s entry into the Premises, Tenant provides Landlord with such evidence as reasonably required that Tenant has
received all required governmental approvals to enter the Premises, (iii) prior to Tenant’s entry into the Premises, Tenant
provides Landlord with contractor’s licenses, insurance and bonds for all contractors entering the Premises in connection
with any work to be performed on by Tenant in the Premises, and (iv) Landlord shall have the right to terminate or suspend Tenant’s
early access at any time that Landlord determines that such early access interferes with the performance of the Landlord’s
Work.

 

    	 	 1	 

     

    

 

		1.4	Option
                                         to Extend Term.

Landlord
hereby grants Tenant the right to extend the Term of the Lease for one (1) additional period of three (3) years (such extended
period is hereinafter referred to as the “Extended Term”) on the same terms and conditions contained in the Lease,
except that (i) Base Rent for an Extended Term shall be as set forth hereinbelow, (ii) no additional options to extend shall apply
following the expiration of applicable Extended Term (other than as expressly set forth above), and (iii) Landlord shall have
no obligation to make any improvements to the Premises or contribute any amounts therefor. Written notice of Tenant’s exercise
of its option to extend (“Option to Extend”) the Term of this Lease for the Extended Term must be given to Landlord
no less than six (6) months prior to the date the Term of the Lease would otherwise expire. If Tenant is in default under this
Lease, Tenant shall have no Option to Extend the Term of this Lease until such default is cured within the cure period set forth
in this Lease for such default, if any; provided, that the period of time within which said Option to Extend may be exercised
shall not be extended or enlarged by reason of Tenant’s inability to exercise said Option to Extend because of a default.
In the event Tenant validly exercises its Option to Extend the Term of this Lease as herein provided, Base Rent shall be adjusted
as of the commencement date of the Extended Term as follows (but in no event shall it be less than the Base Rent for the month
immediately prior to the commencement of the Extended Term):

 

(a)       Not
later than six (6) months prior to the commencement of an Extended Term, Landlord shall provide Tenant with Landlord’s determination
of the fair market Base Rent for such Extended Term, including periodic increases as dictated by the current market (“Landlord’s
Determination of Base Rent for Extended Term”). Tenant shall provide notice to Landlord within ten (10) days after receipt
of such notice from Landlord as to whether Tenant accepts Landlord’s Determination of Base Rent for Extended Term. In the
event Tenant does not agree to Landlord’s Determination of Base Rent for Extended Term, Landlord and Tenant shall attempt
to agree upon Base Rent for the Premises for the Extended Term, such rent to be the fair market Base Rent installment of rent
for the Premises for the Extended Term, as defined in Subsection (c) below. If the parties are unable to agree upon the Base Rent
for the Extended Term by the date three (3) months prior to the commencement of the Extended Term, then within ten (10) days thereafter
each party, at its own cost and by giving notice to the other party, shall appoint a real estate appraiser with at least five
(5) years full-time commercial real estate appraisal experience in the area in which the Premises are located to appraise and
set Base Rent for the Extended Term. If a party does not appoint an appraiser within ten (10) days after the other party has given
notice of the name of its appraiser, the single appraiser appointed shall be the sole appraiser and shall set Base Rent for the
Extended Term. If each party shall have so appointed an appraiser, the two (2) appraisers shall meet promptly and attempt to set
the Base Rent for the Extended Term. If the two (2) appraisers are unable to agree within thirty (30) days after the second appraiser
has been appointed, they shall attempt to select a third appraiser meeting the qualifications herein stated within ten (10) days
after the last day the two (2) appraisers are given to set Base Rent. If the two (2) appraisers are unable to agree on the third
appraiser within such ten (10) day period, either of the parties to this Lease, by giving five (5) days’ notice to the other
party, may apply to the Arbitration Service of Portland for the selection of a third appraiser meeting the qualifications stated
in this Section. Each of the parties shall bear one-half (1/2) of the cost of appointing the third appraiser and of paying the
third appraiser’s fee. The third appraiser, however selected, shall be a person who has not previously acted in any capacity
for either party.

 

(b)       The
fair market Base Rent shall be fixed by the appraisers in accordance with the following procedures. Each party-appointed appraiser
shall state, in writing, such appraiser’s determination of the fair market Base Rent supported by the reasons therefor and
shall make counterpart copies for the other party-appointed appraiser and any neutral appraiser. The party-appointed appraisers
shall arrange for a simultaneous exchange of their proposed fair market Base Rent determinations. The role of any neutral appraiser
shall be to select whichever of the two (2) proposed determinations of fair market Base Rent most closely approximates the neutral
appraiser’s own determination of fair market Base Rent. The neutral appraiser shall have no right to propose a middle ground
or any modification of either of the two (2) proposed determinations of fair market Base Rent. The determination of fair market
Base Rent the neutral appraiser chooses as that most closely approximating the neutral appraiser’s determination of the
fair market Base Rent shall constitute the decision of the appraisers and shall be final and binding upon the parties. The appraisers
shall have no power to modify the provisions of this Lease.

 

    	 	 2	 

     

    

 

(c)       For
purposes of the appraisal, the term “fair market Base Rent” shall mean the price that a ready and willing tenant would
pay, as of the Extended Term commencement date, as a base rent to a ready and willing landlord of premises comparable to the Premises,
in terms of size, quality and comparable term, in their then-improved state, in the Portland, Oregon market, if such premises
were exposed for lease on the open market for a reasonable period of time; including any rent increases over the Extended Term.
In no event shall there be deducted from such fair market rental the value of any concessions, including without limitation, tenant
improvements, commission and/or “down time.”

 

(d)       Any
neutral appraiser’s decision shall be made not later than thirty (30) days after the submission by the appraisers of their
proposals with respect to the fair market Base Rent. The parties have included these time limits in order to expedite the proceeding,
but they are not jurisdictional, and the neutral appraiser may for good cause allow reasonable extensions or delays, which shall
not affect the validity of the award. Absent fraud, collusion or willful misconduct by the neutral appraiser, the award shall
be final, and judgment may be entered in any court having jurisdiction thereof. The Option to Extend the Lease hereby granted
is personal to the entity executing this Lease as tenant and is not transferable; in the event of any assignment or subletting
under this Lease, the Option to Extend the Lease shall automatically terminate and shall thereafter be null and void.

 

		1.5	Right
                                         of First Offer.

 

If
at any time during the initial Term of the Lease space in Suites 360 or 370 of the Building as shown on Exhibit “D”
(collectively and individually, the “First Offer Space”) is available for lease or is about to become available
for lease (provided such space shall not be deemed available for lease until it has already been leased to a third party after
the date of this Lease or if it is subject to any existing options of existing tenants of the Building) and so long as Tenant
is not in default of this Lease, Landlord shall notify Tenant of the availability of such space and the terms upon which Landlord
is willing to lease such space to Tenant (the base rent per sq. ft., and the general terms shall be consistent with the then prevailing-market
for premises comparable to the Premises, in terms of size, quality and comparable term, in their then-improved state, in the Portland,
Oregon market, provided the base rent shall be no lower than that for the initial Premises for the month in which the expansion
of the Premises to include the First Offer Space shall occur (the “Expansion Space Commencement Date”). If Tenant
timely accepts Landlord’s offer, if, as of the Expansion Space Commencement Date, the Term of the Lease is set to expire
less than twenty-four (24) months later, the Term of the Lease with respect to the initial Premises and the First Offer Space
shall be extended such that the Term of the Lease expires twenty-four (24) months following the Expansion Space Commencement Date.
Tenant shall have five (5) business days to accept Landlord’s offer. If Tenant fails to accept Landlord’s offer within
such five (5) business day period, Landlord shall be free to lease such space any time during the term of this Lease free and
clear of any rights of Tenant; provided however, once such space has been leased to a third party and thereafter becomes available
for lease, the provisions of this Right of First Offer shall then again apply. The right of first offer contained herein shall
not apply to any renewal or extension of the term of the Lease and shall be personal to the entity executing this Lease as tenant.

 

		2.	RENT
                                         PAYMENT

 

		2.1	Base
                                         Rent.

 

Tenant
shall pay to Landlord the Base Rent for the Premises and any additional rent provided herein, without deduction or offset. At
the same time as execution of the Lease, Tenant shall pay any prepaid rent stated in the Basic Lease Terms. Rent is payable in
advance on the first day of each month commencing on the Commencement Date of this Lease. Tenant shall have a five (5) day grace
period from the first day of the month within which to pay the Base Rent and any additional rent. Rent for any partial month during
the Lease term shall be prorated to reflect the number of days during the month that Tenant occupies the Premises. Additional
rent means amounts determined under Section 20 of this Lease and any other sums payable by Tenant to Landlord under this Lease.
Rent not paid when due shall bear interest at the rate of nine percent (9%) per annum, until paid. Landlord may at its option
impose a late charge of the greater of $.05 for each $1 of rent or $50 for rent payments made more than ten (10) days late in
lieu of interest for the first month of delinquency. Tenant acknowledges that late payment by Tenant to Landlord of any rent or
other sums due under this Lease will cause Landlord to incur costs not contemplated by this Lease, the exact amount of such costs
being extremely difficult and impracticable to ascertain, and that such late charge represents a fair and reasonable estimate
of the costs that Landlord will incur by reason of any such late payment and is not a penalty. Neither imposition nor collection
nor failure to impose or collect such late charge shall be considered a waiver of any other remedies available for default. In
addition to such late charge, an additional charge of $75 shall be recoverable by Landlord for any returned checks.

 

    	 	 3	 

     

    

 

		2.2	Abated
                                         Rent and Other Inducement Provisions.

 

As
reflected above, Tenant shall have no obligation to pay monthly Base Rent for the first two (2) full months after the Commencement
Date (the “Free Rent Period”) resulting in an abatement of monthly Base Rent in the aggregate amount of $11,437.50.
In the event of a default by Tenant under the terms of this Lease which results in early termination pursuant to the provisions
hereof during such Free Rent Period, Tenant shall not be entitled to any such rent abatement after the date of termination nor
shall Tenant be entitled to assert any right to rent abatement after such termination against any sums due Landlord. The rent
abatement granted under this Section and any other cash and allowance which is granted to Tenant (collectively, “Inducement
Provisions”) is solely for the benefit of the entity executing this Lease as tenant and is not transferable to any assignee
or subtenant. In the event of a default by Tenant under the terms of this Lease which results in early termination pursuant to
the provisions hereof, then as a part of the recovery to which Landlord shall be entitled shall be included a portion of such
rent which was abated under the provisions of this Section and the cash and any allowance other all other Inducement Provisions,
which portion shall be determined by multiplying the total amount of rent, cash and allowance which was abated or granted under
this Lease by a fraction, the numerator of which is the number of months remaining in the term of this Lease at the time of such
default and the denominator of which is the number of months during the term of this Lease that Tenant is obligated to pay monthly
Base Rent. For the avoidance of doubt, during the Free Rent Period Tenant shall be obligated to pay Tenant’s Proportionate
Share of operating expenses and real property taxes.

 

		3.	SECURITY
                                         DEPOSIT

 

Upon
execution of the Lease, Tenant shall pay to Landlord the amount stated in the Basic Lease Terms as a Security Deposit. Landlord
may apply the Security Deposit to pay the cost of performing any obligation which Tenant fails to perform within the time required
by this Lease, but such application by Landlord shall not waive Landlord’s other remedies nor be the exclusive remedy for
Tenant’s default. If the Security Deposit is applied by Landlord, Tenant shall on demand pay the sum necessary to replenish
the Security Deposit to its original amount. In no event will Tenant have the right to apply any part of the Security Deposit
to any rent or other sums due under this Lease. If Tenant is not in default at the expiration or termination of this Lease, Landlord
shall return the entire Security Deposit to Tenant, within thirty (30) days, except for the portion designated in the Basic Lease
Terms, if any, which Landlord shall retain as a non-refundable cleaning fee. If Tenant is in default at the expiration or termination
of this Lease, Landlord may retain such portion of the Security Deposit as needed to cure the default and shall promptly return
the balance, if any, to Tenant. Landlord’s obligations with respect to the Security Deposit are those of a debtor and not
of a trustee, and Landlord can commingle the Security Deposit with Landlord’s general funds. Landlord shall not be required
to pay Tenant interest on the Security Deposit. Landlord shall be entitled to immediately endorse and cash Tenant's Security Deposit;
however, such endorsement and cashing shall not constitute Landlord's acceptance of this Lease. In the event Landlord does not
accept this Lease, Landlord shall return said Security Deposit. If Landlord sells its interest in the Premises during the term
hereof and deposits with or credits to the purchaser the unapplied portion of the Security Deposit, thereupon Landlord shall be
discharged from any further liability or responsibility with respect to the Security Deposit.

 

		4.	USE

 

		4.1	Use.

 

Tenant
shall use the Premises for Tenant’s Permitted Use stated in the Basic Lease Terms and for no other purpose. In connection
with Tenant’s use of the Premises (including, without limitation, any alteration of the Premises), Tenant shall at its expense
promptly comply with all applicable laws, ordinances, rules, and regulations (“Laws”) and shall not annoy, obstruct,
or interfere with the rights of other tenants. Tenant shall not allow any objectionable fumes, noise, light, vibration, radiation,
or electromagnetic waves to be emitted from the Premises. If any such sound or vibration is detectable outside of the Premises,
Tenant shall provide such insulation as is required to muffle such sound or vibration and render it undetectable at Tenant’s
cost. Tenant shall not conduct any activities that will increase Landlord’s insurance rates. Tenant shall pay before delinquency
all taxes, assessments, license fees and public charges levied, assessed or imposed upon its business operations and all trade
fixtures, leasehold improvements, merchandise and other personal property in or about the Premises. Tenant shall not use the Premises
for any uses that will cause any increase in insurance rates in the Building. Notwithstanding anything to the contrary in this
Lease, in no event shall any portion of the Premises be used for any marijuana-related business, cannabusiness, or any other business
related to controlled substances as defined in the Federal Controlled Substances Act (including, but not limited to, the cultivation,
manufacture, processing, accounting, financial transactions, other ancillary services, storage or sale of cannabis or cannabis-related
products).

 

    	 	 4	 

     

    

 

		4.2	Equipment.

 

Tenant
shall install in the Premises only such equipment as is customary for Tenant’s Permitted Use and shall not overload the
floors or electrical circuits of the Premises or Building or alter the plumbing or wiring of the Premises or Building. Landlord
must approve in advance the location of and manner of installing any wiring or electrical, heat generating, climate sensitive,
or communication equipment or exceptionally heavy articles. All telecommunications equipment, conduit, cables and wiring, additional
dedicated circuits, and any additional air conditioning required because of heat generating equipment or special lighting installed
by Tenant shall be installed and operated at Tenant’s expense and, at Landlord’s written request shall be removed
by Tenant at Tenant’s sole cost. Tenant shall have no right to install any equipment on or through the roof of the Building,
or use or install or store any equipment or other items outside of the interior boundary of the Premises.

 

		4.3	Signs
                                         and Other Installations.

 

No
signs, awnings, or other apparatus shall be painted on or attached to the Building or anything placed on any glass or woodwork
of the Premises or positioned so as to be visible from outside the Premises, including any window covering (e.g., shades,
blinds, curtains, drapes, screens, or tinting materials) without Landlord’s written consent. All signs installed by Tenant
shall comply with Landlord’s standards for signs and all applicable codes and all signs and sign hardware shall be removed
upon termination of this Lease with the sign location restored to its former state. Any material violating this provision may
be removed and disposed by Landlord without compensation to Tenant, and Tenant shall reimburse Landlord for the cost of the same
upon request. Subject to Landlord’s final approval as to the specific design, location, and size of such signage, Tenant
may install, at Tenant’s sole cost and expense, Tenant-branded signage on the door and window of the entry to the Premises.
Landlord shall, at Landlord’s sole cost and expense, place Tenant’s name on the directory of the Building. Notwithstanding
the above, and subject to Landlord’s reasonable approval of the design, location, and size of such signage, Landlord consents
to Tenant placing a neon sign in its third floor window for “Portland Potato” or “Portland Potato Vodka,”
as permitted by the city sign code and all other governmental regulations, provided such signage shall not be placed within three
(3) feet of the window line.

 

		4.4	Parking.

 

All
parking spaces shall be assigned to tenants and other parties pursuant to a separate written agreement with Landlord. This Lease
does not cover any parking spaces or rights to use any parking spaces except as indicated in Section N of the Basic Lease Terms.
Except to the extent of the negligence or willful misconduct of Landlord or Landlord’s agents, employees or contractors,
Landlord shall not be responsible for money, jewelry, automobiles or personal property lost in or stolen from the parking areas
regardless of whether such loss or theft occurs when the parking areas are locked or otherwise secured. Without limiting the terms
of the preceding sentence, Landlord shall not be liable for any loss, injury or damage to persons using the parking areas or automobiles
or other property therein, it being agreed that, to the fullest extent permitted by law, the use of the parking spaces shall be
at the sole risk of Tenant and its employees. If Tenant and Landlord enter into a parking agreement covering parking spaces in
the Building, then any default by Tenant under such agreement beyond any applicable cure period shall, at Landlord’s option,
constitute an event of default under this Lease. A copy of the separate parking agreement is attached hereto as Exhibit “F.”

 

    	 	 5	 

     

    

 

	5.	UTILITIES,
                                         SERVICES, SECURITY

 

	5.1	Utilities
                                         and Services.

 

Landlord
will furnish water and electricity to the Building at all times and will furnish heat and air conditioning, at building standard
levels, during the normal Building hours as established by Landlord. Tenant shall pay for all charges for electricity, natural
gas and water furnished to the Premises. If Tenant does not pay any of these charges directly, Tenant shall pay Landlord for such
charges and the amount payable by Tenant will be based upon consumption as sub-metered to the Premises by Landlord, or if not
sub-metered, upon an equitable allocation made by Landlord, which allocation will be binding absent manifest error. Tenant shall
be responsible for paying, as additional rent, the monthly charges allocable to the Premises for the HVAC maintenance contracts
entered into by Landlord from time to time. Any additional rent provided for in this Lease shall become due with the next monthly
installment of Base Rent unless otherwise provided. Janitorial service for the Building’s common areas will be provided
in accordance with the regular schedule of the Building, which schedule may change from time to time. Tenant shall provide Tenant’s
own janitorial service for the Premises unless Landlord and Tenant otherwise agree in writing that Landlord will provide such
service to Tenant as part of operating expenses for the Building. Tenant shall be responsible for, and promptly pay when due,
any and all charges for utility services used in the Premises and for all other services required for Tenants use of the Premises
(including without limitation, all data and telephone services). Tenant shall comply with all government laws or regulations regarding
the use or reduction of use of utilities on the Premises. Interruption of services or utilities shall not be deemed an eviction
or disturbance of Tenant’s use and possession of the Premises, render Landlord liable to Tenant for damages, or relieve
Tenant from performance of Tenant’s obligations under this Lease. Landlord shall take all reasonable steps to correct any
interruptions in service caused by defects in utility systems within Landlord’s reasonable control. Tenant shall provide
its own surge protection for power furnished to the Premises. Tenant shall cooperate with Landlord and the utility service providers
at all times as reasonably necessary, and shall allow Landlord and utility service providers, reasonable access to the pipes,
lines, feeders, risers, wiring, and any other machinery within the Premises. Tenant shall not contract or engage any other utility
provider without prior written approval of Landlord.

 

		5.2	Data
                                         and Information Sharing for Environmental Management and Extra Usage.

 

Tenant
shall be required to furnish to Landlord energy and water consumption data for all energy and water types used on the Premises
for which utility accounts or consumption meters are owned by Tenant. Landlord and Tenant agree to provide all reasonable and
accurate information that may be required to pursue green building certification of the Premises. If Tenant does not pay for utilities
directly and Tenant uses excessive amounts of utilities because of operation outside of ordinary business hours of Monday through
Friday from 7:00 am to 6:00 pm and Saturday 8:00 am to Noon (“Ordinary Building Hours”), high demands from office
machinery and equipment, nonstandard lighting, or any other cause, Landlord may impose a reasonable charge for supplying such
extra utilities, which charge shall be payable monthly by Tenant in conjunction with rent payments. Landlord reserves the right
to install separate meters for any such utility and to charge Tenant for the cost of such installation.

 

		5.3	Security
                                         Measures for the Premises.

 

Landlord
may (but shall have no obligation) adopt security measures regarding the Premises, and Tenant shall cooperate with all such security
measures. Landlord may, in Landlord’s sole and absolute discretion, modify the type or amount of security measures provided
at any time without notice.

 

    	 	 6	 

     

    

 

Tenant
may not install alarm boxes, foil protection tape, or other security equipment on the Premises without Landlord’s prior
written consent. Tenant may, at Tenant’s sole cost and expense, install a supplemental security system within the Premises
(such as a card-key system) with Landlord’s written consent not to be unreasonably withheld; provided that such consent
may be conditioned on, among other things, that: (i) the plans and specifications for any such system shall be subject to Landlord's
reasonable approval, (ii) any such system must be compatible with any existing systems of the Building, (iii) Tenant's obligation
to indemnify, defend and hold Landlord harmless shall also apply to Tenant's use and operation of any such system, (iv) the installation
of such system shall otherwise be subject to the terms and conditions of Section 6 below (and Exhibit “B”,
if installed as a part of the Tenant improvements), and (v) notwithstanding anything to the contrary in this Lease, Tenant shall
remove such system upon the expiration or earlier termination of this Lease and repair all damage caused by such removal. Tenant
shall at all times provide Landlord with a contact person who can disarm the security/surveillance system and who is familiar
with the functions of such system in the event of a malfunction, and Tenant shall provide Landlord with the alarm codes or other
necessary information required to disarm such system in the event Landlord must enter the Premises in an emergency and Landlord
shall not have any liability for accidentally setting off Tenant’s security system. The determination of the extent to which
such supplemental security equipment, systems and procedures are reasonably required shall be made in the sole judgment, and shall
be the responsibility of, the Tenant.

 

		5.4	Fiber
                                         Optic.

 

Tenant
shall have the right to select an alternative telecom provider for its data and telecom connectivity in the Building; provided
that (i) such telecom provider enters into a license agreement with the Landlord which license agreement shall be subject
to Landlord’s prior written approval, (ii) Tenant assumes all costs and expenses related to the license agreement, including,
without limitation, the costs of installation of fiber and electrical feeds, including chases and conduits in the risers in the
Building (collectively, the “Cabling”), and (iii) the telecom provider’s use will not interfere with or adversely
impact the Building or the use or occupancy of office space leased by any tenant of the Building. Together with Tenant's request
for a new telecom provider, Tenant shall submit to Landlord evidence acceptable to Landlord in its sole discretion that the installation
of the Cabling by the telecom provider is in compliance with all applicable laws and will not impede the operation of the Building
or its systems in any material respect and if so as to the latter, that Tenant will be responsible to correct and remediate such
impediment at it sole cost and expense as a condition precedent to such approval by Landlord. Without limiting the generality
of the foregoing, Tenant shall not commence or allow the telecom provider to commence any installation or operation of the Cabling
until the proposed location of and specifications for the Cabling have been approved in writing by Landlord. Landlord shall have
no obligation to design, install, construct, use, operate, maintain, repair, replace or remove the Cabling or to have any other
responsibility or liability in connection therewith or the operations thereof. The use of the Cabling and all areas outside the
Premises shall be subject to all terms and conditions of the Lease as if within the Premises, including, without limitation, insurance
and indemnification obligations in this Lease. Landlord shall not be liable for any loss or damage suffered by Tenant or others
because of any interruption in or failure of utilities, including electrical power, to the Cabling. Tenant acknowledges and agrees
that it shall accept the areas in which Tenant installs its Cabling and piping in their “As Is” condition. Landlord
makes no representation respecting the condition of these areas or their suitability for operation and installation of the Cabling.

 

		6.	MAINTENANCE,
                                         REPAIR, ALTERATIONS

 

		6.1	Maintenance
                                         and Repair.

 

		6.1.1	Landlord’s
                                         obligation with respect to maintenance and repair of the Building shall be limited to:
                                         (A) the structural portions of the Building, (B) the exterior walls of the Building,
                                         including glass and glazing (provided that the cleaning of the interior faces of exterior
                                         glazing within the Premises shall be Tenant’s responsibility), (C) the roof, (D)
                                         the mechanical, electrical, plumbing and life safety systems leading to the Premises,
                                         and (E) the common areas. Landlord shall have the right but not the obligation to undertake
                                         work of repair that Tenant is required to perform hereunder and that Tenant fails or
                                         refuses to perform in a timely and efficient manner. All costs incurred by Landlord in
                                         performing any such repair for the account of Tenant shall be repaid by Tenant to Landlord
                                         upon demand, together with a reasonable administrative fee.

 

    	 	 7	 

     

    

 

		6.1.2	Tenant
                                         shall maintain and repair the Premises in good condition, including, without limitation,
                                         maintaining and repairing all walls, floors, and ceilings, all interior doors, partitions,
                                         and windows, and all Premises systems, fixtures, and equipment that are not the maintenance
                                         responsibility of Landlord, as well as damage to the Building caused by Tenant, its agents,
                                         employees, contractors, or invitees.

 

		6.1.3	Landlord
                                         shall have no liability for failure to perform required maintenance and repair unless
                                         written notice is given by Tenant and Landlord fails to commence efforts to remedy the
                                         problem within a reasonable time and diligently pursue such remedy to completion. Landlord
                                         shall have the right to erect scaffolding and other apparatus necessary for the purpose
                                         of making repairs or alterations to the Building, and Landlord shall have no liability
                                         for interference with Tenant’s use because of such work. Work may be done during
                                         normal business hours. Tenant shall have no claim against Landlord for any interruption
                                         of services or interference with Tenant’s occupancy caused by Landlord’s
                                         maintenance and repair or any claim of constructive or other eviction of Tenant.

 

		6.1.4	Landlord’s
                                         cost of repair and maintenance shall be considered “operating expenses” for
                                         the purposes of Section 20, except that repair of damage caused by negligent or intentional
                                         acts or breach of this Lease by Tenant, its contractors, agents or invitees shall be
                                         at Tenant’s expense.

 

Landlord
represents and warrants that the plumbing, mechanical, electrical, safety, HVAC, and other systems serving the Premises shall
be in good working order on the Commencement Date.

 

		6.2	Alterations.

 

		6.2.1	Tenant
                                         shall not make any alterations to the Premises that affect the structure of the Building
                                         or any Building system (electrical, plumbing, mechanical or life safety), or install
                                         any wall or floor covering without Landlord’s prior written consent which may be
                                         withheld in Landlord’s sole discretion. With respect to any other alteration requested
                                         by Tenant, Landlord’s consent shall not be unreasonably withheld. Should Landlord
                                         consent in writing to Tenant’s alteration of the Premises, Tenant shall contract
                                         with a contractor approved by Landlord for the construction of such alterations (which
                                         contractor shall comply with the insurance provisions set forth in this Lease), shall
                                         secure all appropriate governmental approvals and permits, and shall complete such alterations
                                         with due diligence in compliance with the plans and specifications approved by Landlord
                                         and in a good and workmanlike manner. All such construction shall be performed in a manner
                                         which will not interfere with the quiet enjoyment of other tenants of the Building. Any
                                         such alterations, wiring, cables, or conduit installed by Tenant shall at once become
                                         part of the Premises and belong to Landlord except for removable machinery and unattached
                                         movable trade fixtures. Landlord may at its option require that Tenant remove any alterations,
                                         wiring, cables or conduit installed by or for Tenant and restore the Premises to the
                                         original condition upon termination of this Lease. If Tenant seeks Landlord’s consent
                                         to perform an alteration, then at the time Landlord provides its approval of same, Landlord
                                         shall notify Tenant as to whether Landlord will require Tenant to remove such alteration
                                         upon the expiration or earlier termination of this Lease. If Tenant makes an alteration
                                         without asking Landlord whether Landlord will require such alteration to be removed at
                                         the expiration or sooner termination of this Lease, Landlord may at its option, require
                                         that Tenant remove such alterations and repair any damage in connection therewith. Landlord
                                         shall have the right to post notices of nonresponsibility in connection with work being
                                         performed by Tenant in the Premises. Work by Tenant shall comply with all laws then applicable
                                         to the Premises. Tenant shall not allow any liens to attach to the Building or Tenant’s
                                         interest in the Premises as a result of its activities or any alterations. Landlord may
                                         perform alterations to or change the configuration of the Building and common areas.
                                         At the conclusion of any alteration, (A) Tenant shall provide Landlord with as-built
                                         drawings of such alterations, and (B) certify that the “record-set” of as-built
                                         drawings are true and correct, which certification shall survive the expiration or termination
                                         of this Lease. 

 

    	 	 8	 

     

    

 

		6.2.2	Throughout
                                         the term of the Lease and notwithstanding the provisions of Section 18 below, Landlord
                                         shall have a continuing right (but shall not be obligated) to make alterations and/or
                                         improvements to the common areas and any other portions of the Building for any purposes
                                         that Landlord deems necessary, in its reasonable business judgment, including, without
                                         limitation, alterations or improvements that will affect the operation, design, use or
                                         aesthetic of the Building. Landlord is authorized to prioritize sustainability requirements
                                         over minimizing upfront costs of property improvements. Landlord shall make reasonable
                                         efforts to complete all such alterations and improvements so as to minimize, to the extent
                                         feasible, disturbance to Tenant. Without limiting the generality of the foregoing, Landlord
                                         reserves the right to grant such easements, rights and dedications as Landlord deems
                                         necessary or desirable and to cause the recordation of parcel maps and covenants, conditions
                                         and restrictions affecting the Premises and Building, as long as such easements, rights,
                                         dedications, maps and covenants, conditions and restrictions do not materially and adversely
                                         interfere with the use of the Premises by Tenant. At Landlord’s request, Tenant
                                         shall join in the execution of any of the aforementioned documents.

 

		7.	INDEMNITY,
                                         INSURANCE

 

		7.1	Indemnity.

 

Tenant
shall indemnify, defend, and hold harmless Landlord and its managing agents and employees from any claim, liability, damage, or
loss occurring in, on, or about the Premises, or any cost or expense in connection therewith (including attorney fees), arising
out of (a) any damage to any person or property occurring in, on, or about the Premises, (b) use by Tenant or its agents, invitees
or contractors of the Premises and/or the Building, and/or (c) Tenant’s breach or violation of any term of this Lease. This
indemnity obligation shall survive the expiration or sooner termination of this Lease. Notwithstanding the forgoing, Tenant shall
have no obligation to indemnify, defend or hold harmless Landlord for any claim, damage or loss caused in whole or in part by
the intentional or grossly negligent acts of Landlord, its employees or agents or by other tenants in the building.

 

		7.2	Insurance.

 

Tenant
shall carry liability insurance, on an occurrence basis, with limits of not less than Two Million Dollars ($2,000,000) combined
single limit bodily injury and property damage which insurance shall have an endorsement naming Landlord and Landlord’s
managing agent and lender, if any, and any other entity reasonably required by Landlord, as an additional insured, cover the liability
insured under Section 7 of this Lease and be in form and with companies reasonably acceptable to Landlord. Such insurance shall
provide that it is primary insurance and not “excess over” or contributory with any other valid, existing and applicable
insurance in force for or on behalf of Landlord. The policy shall not eliminate cross-liability and shall contain a severability
of interest clause. Tenant, at its cost, shall maintain on all of its personal property, tenant improvements (whether constructed
by Landlord or Tenant), in, on, or about the Premises, a policy of “Broad Form” insurance, to the extent of at least
full replacement value without any deduction for depreciation. Tenant, at its cost, shall maintain such other insurance as Landlord
may reasonably require from time to time. Not more frequently than once each year, if, in the opinion of Landlord’s lender
or of the insurance consultant, the amount of public liability and property damage insurance coverage at that time is not adequate,
Tenant shall increase the insurance coverage as required by either Landlord’s lender or Landlord’s insurance consultant.
Prior to occupancy, Tenant shall furnish a certificate evidencing such insurance which shall state that the coverage shall not
be canceled or materially changed without thirty (30) days’ advance notice to Landlord and Landlord’s managing agent,
if any. Tenant shall furnish to Landlord a renewal certificate at least thirty (30) days prior to expiration of any policy.

 

Tenant
shall also maintain workers’ compensation insurance in accordance with the laws of the state in which the Premises are located
with employer’s liability insurance in an amount not less than $1,000,000 and business income and extra expense insurance
with limits not less than one hundred percent (100%) of all income and charges payable by Tenant under this Lease for a period
of twelve (12) months.

 

    	 	 9	 

     

    

 

Should
Tenant engage the services of any contractor to perform work in the Premises, Tenant shall ensure that such contractor carries
commercial general liability, business automobile liability, umbrella/excess liability (following form), worker’s compensation
and employers’ liability coverages in substantially the same amounts as are required of Tenant under this Lease. Contractor
shall include Landlord, its trustees, officers, directors, members, agents and employees, Landlord’s mortgagees and Landlord’s
representatives as additional insureds on the liability policies required hereunder. All policies required to be carried by any
contractor shall be issued by and binding upon an insurance company licensed or authorized to do business in the state in which
the Building is located with a rating of at least “A-: X” or better as set forth in the most current issue of Best’s
Insurance Reports, unless otherwise approved by Landlord. Certificates of insurance, acceptable to Landlord, evidencing the existence
and amount of each insurance policy required hereunder shall be delivered to Landlord prior to the commencement of any work in
the Premises. Further, each policy will contain provisions giving Landlord and each of the other additional insureds with at least
thirty (30) days’ prior written notice of any cancelation, non-renewal or material change in coverage. The above requirements
shall apply equally to any subcontractor engaged by contractor.

 

		8.	DAMAGE,
                                         WAIVER OF SUBROGATION

 

		8.1	Fire
                                         or Casualty.

 

“Major
Damage” means damage by fire or other casualty to the Building or the Premises which causes the Premises or any substantial
portion of the Building to be unusable, or which will cost more than twenty-five percent (25%) of the pre-damage value of the
Building to repair, or which is not covered by insurance. In case of Major Damage, Landlord may elect to terminate this Lease
by notice in writing to Tenant within thirty (30) days after such date. If this Lease is not terminated following Major Damage,
or if damage occurs which is not Major Damage, Landlord shall promptly restore the Premises to the condition existing just prior
to the damage. Tenant shall promptly restore all damage to tenant improvements or alterations installed or paid for by Tenant
or pay the cost of such restoration to Landlord if Landlord elects to do the restoration of such improvements. Unless the casualty
was caused by Tenant, rent shall be reduced from the date of damage until the date restoration work being performed by Landlord
is substantially complete, with the reduction to be in proportion to the area of the Premises not usable by Tenant. Notwithstanding
the foregoing, in the event of Major Damage, Landlord, within thirty (30) days of the date of such damage, shall use commercially
reasonable efforts to cause a general contractor selected by Landlord to provide Landlord with a written estimate of the amount
of time required, using standard working methods, to substantially complete the repair and restoration of the Premises and any
common areas necessary to provide access to the Premises (“Completion Estimate”). Landlord shall promptly forward
a copy of the Completion Estimate to Tenant. If the Completion Estimate indicates that the Premises or any common areas necessary
to provide access to the Premises cannot be made tenantable within two hundred seventy (270) days from the date the repair is
started (when such repairs are made without the payment of overtime or other premiums), then either party shall have the right
to terminate this Lease upon written notice to the other within ten (10) business days after Landlord’s delivery of the
Completion Estimate; provided, however, if the Lease is not terminated under this Section and Landlord reasonably believes at
any time during the performance of the repairs that the repairs will not be completed within thirty (30) days of the estimated
completion date set forth the Completion Estimate, Landlord shall notify Tenant, and either party may terminate this Lease within
ten (10) days of the date of Landlord’s notice.

 

		8.2	Waiver
                                         of Subrogation.

 

Tenant
shall be responsible for insuring its personal property and trade fixtures located on the Premises and any alterations or tenant
improvements it has made to the Premises. Neither Landlord, its managing agent nor Tenant shall be liable to the other for any
loss or damage caused by any of the risks that are covered by property insurance or could be covered by a customary broad form
of property insurance policy, or for any business interruption, and there shall be no subrogated claim by one party’s insurance
carrier against the other party arising out of any such loss. Subject to the other provisions of this Lease, if damage is caused
by a risk that is not covered by property insurance or could be covered by a customary broad form of property insurance policy
and such damages is caused by the other party or its agents, employees, contractors or invitees, nothing contained herein shall
be deemed to preclude a party from making a claim against the other with respect to such damages.

 

    	 	 10	 

     

    

 

		9.	EMINENT
                                         DOMAIN

If
a condemning authority takes title by eminent domain or by agreement in lieu thereof a portion sufficient to render the Premises
unsuitable for Tenant’s use, then either party may elect to terminate this Lease effective on the date that possession is
taken by the condemning authority. If this Lease is not terminated, then rent shall be reduced for the remainder of the term in
an amount proportionate to the reduction in area of the Premises caused by the taking. All condemnation proceeds (except those
specifically allocated to Tenant’s furniture, fixtures, and equipment, if any) shall belong to Landlord, and Tenant shall
have no claim against Landlord for theses condemnation proceeds because of the taking. Nothing herein is intended to prevent Tenant
from separately seeking and retaining condemnation proceeds from the condemning authority that are available for tenants, including
but not limited to relocation costs.

 

		10.	ASSIGNMENT
                                         AND SUBLETTING

 

Tenant
shall not assign or encumber its interest under this Lease or sublet all or any portion of the Premises without first obtaining
Landlord’s consent in writing. This provision shall apply to all transfers by operation of law, and to all mergers and changes
in control of Tenant, all of which shall be deemed assignments for the purposes of this Section. Tenant’s request for Landlord’s
consent to an assignment or sublease shall be accompanied by a copy of the proposed agreements between Tenant and the proposed
assignee or subtenant. Tenant shall provide Landlord with (1) any additional information or documents reasonably requested by
Landlord, within ten (10) days after receiving Tenant’s notice, and (2) an opportunity to meet and interview the proposed
assignee or subtenant, if requested. No assignment shall relieve Tenant of its obligation to pay rent or perform other obligations
required by this Lease, and no consent to one assignment or subletting shall be a consent to any further assignment or subletting.
If Tenant proposes a subletting for which Landlord’s consent is required, Landlord shall have the option of terminating
this Lease and dealing directly with the proposed subtenant . Notwithstanding the foregoing, Landlord may at its sole discretion
withhold consent to the subletting of the Premises to an existing occupant of the Building, to any prospective tenant with which
the Landlord or Landlord’s agents have negotiated within the previous six (6) months, where the prospective tenant is a
government entity or a labor union, or where any sublease will require any changes to any building systems. Tenant shall not advertise
at a rate which is less than the Building’s listed rate. If Landlord does not terminate this Lease, Landlord shall not unreasonably
withhold its consent to any assignment or subletting provided the proposed Tenant is compatible with Landlord’s normal standards
for the Building. If an assignment or subletting is permitted, fifty percent (50%) of any net profit, or net value of any other
consideration received by Tenant as a result of such transaction shall be paid to Landlord promptly following its receipt by Tenant.
Tenant shall pay any costs incurred by Landlord in connection with a request for assignment or subletting, including reasonable
attorney fees, not to exceed $750.

 

		11.	DEFAULT,
                                         REMEDIES

 

		11.1	Default.

 

Any
of the following shall constitute an “Event of Default” by Tenant under this Lease (time of performance being of the
essence of this Lease):

 

		11.1.1	Tenant’s
                                         failure to pay rent or any other charge under this Lease when due or within any grace
                                         period provided in this Lease.

 

		11.1.2	Tenant’s
                                         failure to comply with any other term or condition within twenty (20) days following
                                         written notice from Landlord specifying the noncompliance. If such noncompliance cannot
                                         be cured within the twenty (20)-day period, this provision shall be satisfied if Tenant
                                         commences correction within such period and thereafter proceeds in good faith and with
                                         reasonable diligence to complete correction as soon as possible but not later than ninety
                                         (90) days after the date of Landlord’s notice.

 

	11.1.3	Failure of Tenant
    to execute the documents described in Section 16.1 or 16.3 within the time required under such Sections; failure of Tenant
    to provide or maintain the insurance required of Tenant pursuant hereto; or failure of Tenant to comply with any Laws as required
    pursuant hereto within twenty-four (24) hours after written demand by Landlord, if non-compliance possess a substantial risk
    of damage to the Premises or Building or bodily injury.

 

	11.1.4	Tenant’s insolvency,
    business failure, or assignment for the benefit of its creditors. Tenant’s commencement of proceedings under any provision
    of any bankruptcy or insolvency law or failure to obtain dismissal of any petition filed against it under such laws within
    the time required to answer; or the appointment of a receiver for all or any portion of Tenant’s properties or financial
    records.

 

    	 	 11	 

     

    

 

		11.1.5	Assignment
                                         or subletting by Tenant in violation of Section 10.

		11.2	Remedies
                                         for Default.

Upon
occurrence of an Event of Default as described in Section 11.1, Landlord shall have the right to the following remedies, which
are intended to be cumulative and in addition to any other remedies provided under applicable law or under this Lease:

 

		11.2.1	Landlord
                                         may at its option terminate this Lease, without prejudice to its right to damages for
                                         Tenant’s breach. With or without termination, Landlord may retake possession of
                                         the Premises (using self-help or otherwise) and may use or relet the Premises without
                                         accepting a surrender or waiving the right to damages. Following such retaking of possession,
                                         efforts by Landlord to relet the Premises shall be sufficient if Landlord follows its
                                         usual procedures for finding tenants for the space at rates not less than the current
                                         rates for other comparable space in the Building. If Landlord has other comparable vacant
                                         space in the Building, prospective tenants may be placed in such other space without
                                         prejudice to Landlord’s claim to damages or loss of rentals from Tenant.

 

		11.2.2	Landlord
                                         may recover all damages caused by Tenant’s default which shall include an amount
                                         equal to rentals lost because of the default, amortized Lease commissions paid for this
                                         Lease, and the amortized cost of any tenant improvements installed by or paid for by
                                         Landlord. Landlord may sue periodically to recover damages as they occur throughout the
                                         Lease term, and no action for accrued damages shall bar a later action for damages subsequently
                                         accruing. Landlord may elect in any one action to recover accrued damages plus damages
                                         attributable to the remaining term of the Lease. Such damages shall be measured by the
                                         difference between the rent under this Lease and the reasonable rental value of the Premises
                                         for the remainder of the term, discounted to the time of judgment at the prevailing interest
                                         rate on judgments.

 

		11.3	Landlord’s
                                         Right To Cure Default.

 

Landlord
may, but shall not be obligated to, make any payment or perform any obligation which Tenant has failed to perform under this Lease.
All of Landlord’s expenditures shall be reimbursed by Tenant upon demand with interest from the date of expenditure at the
rate of nine percent (9%) per annum. Landlord’s right to correct Tenant’s failure to perform is for the sole protection
of Landlord and the existence of this right shall not release Tenant from the obligation to perform all of the covenants herein
required to be performed by Tenant, or deprive Landlord of any other right which Landlord may have by reason of default of this
Lease by Tenant, whether or not Landlord exercises its right under this Section.

 

		12.	SURRENDER,
                                         HOLDOVER

 

On
expiration or early termination of this Lease, Tenant shall deliver all keys to Landlord and surrender the Premises vacuumed,
swept, and free of debris and in the same condition as at the commencement of the term subject only to reasonable wear from ordinary
use. Tenant shall remove all of its furnishings and trade fixtures that remain its property and any alterations, cables, or conduits
if required by Section 6.2, and shall repair all damage resulting from such removal. Failure to remove shall be an abandonment
of the property, and, following ten (10) days’ written notice, Landlord may remove or dispose of it in any manner without
liability, and recover the cost of removal and other damages from Tenant. If Tenant fails to vacate the Premises when required,
including failure to remove all its personal property, Landlord may elect either: (i) to treat Tenant as a tenant from month to
month, subject to the provisions of this Lease except that rent shall be one-and-one-quarter times the total rent being charged
when the Lease term expired, and any option or other rights regarding extension of the term or expansion of the Premises shall
no longer apply; and/or (ii) to eject Tenant from the Premises (using self-help or otherwise) and recover all damages (including,
without limitation, consequential damages) caused by wrongful holdover.

 

    	 	 12	 

     

    

 

		13.	RULES
                                         AND REGULATIONS

Tenant
shall abide by and adhere to the operating rules and regulations set forth in the attached Exhibit “C” and
any other rules and regulations as Landlord may from time to time reasonably institute. Any default or breach of such rules and
regulations shall be deemed a default under this Lease and Landlord shall be entitled to exercise all rights and remedies available
to Landlord as set forth in this Lease. Landlord shall not be liable to Tenant for the failure of any other tenant or any of its
assignees, subtenants or their respective agents, employees, representatives, invitees or licensees to conform to such rules and
regulations. Landlord shall use commercially reasonable efforts to enforce all rules and regulations fairly.

 

		14.	ACCESS

 

		14.1	Access.

 

Tenant’s
officers and employees or those having business with Tenant may be required to identify themselves or show passes in order to
gain access to the Building. Landlord shall have no liability for permitting or refusing to permit access by anyone. IN ALL
EVENTS, LANDLORD SHALL NOT BE LIABLE TO TENANT, AND TENANT HEREBY WAIVES ANY CLAIM AGAINST LANDLORD, FOR (I) ANY UNAUTHORIZED
OR CRIMINAL ENTRY OF THIRD PARTIES INTO THE PRESMISES OR THE BUILDING, (II) ANY DAMAGE TO PERSONS, OR (III) ANY LOSS OF PROPERTY
IN OR ABOUT THE PREMISES OR THE BUILDING, BY OR FROM ANY UNATHORIZED OR CRIMINAL ACTS OF THIRD PARTIES, REGARDLESS OF ANY ACTION,
INACTION, FAILUIRE, BREAKDOWN, MALFUNCTION AND/OR INSUFFICIENCY OF THE ACCESS CONTROL PROVIDED BY LANDLORD, IF ANY. Landlord
may regulate access to any Building elevators and may (but shall have no obligation) adopt security measures regarding the Building
as Landlord, in its sole and absolute discretion, deems appropriate. In addition, Landlord may, in Landlord’s sole and absolute
discretion, modify the type or amount of security measures provided at any time without notice. Landlord shall have the right
to enter upon the Premises at any time by passkey or otherwise to determine Tenant’s compliance with this Lease, to perform
necessary services, maintenance and repairs or alterations to the Building or the Premises, to post notices of non-responsibility,
or to show the Premises to any prospective tenant or purchasers. Except in case of emergency, such entry shall be at such times
and in such manner as to minimize interference with the reasonable business use of the Premises by Tenant. Tenant acknowledges
that it has neither received nor relied upon any representation or warranty made by or on behalf of Landlord with respect to the
safety or security of the Premises or the Building or any part thereof or the extent or effectiveness of any security measures
or procedures now or hereafter provided by Landlord, and further acknowledges that Tenant has made its own independent determination
with respect to all such matters.

 

		14.2	Furniture
                                         and Bulky Articles.

 

Tenant
shall move furniture and bulky articles in and out of the Building or make independent use of any elevators only at times approved
by Landlord following at least 24 hours’ written notice to Landlord.

 

		15.	Notices.

 

All
notices between the parties relating to this Lease must be in writing and sent to the parties at the address set forth in the
Basic Lease Terms. Any such notices must be sent either by (a) overnight delivery using a nationally-recognized courier (e.g.,
Fed Ex, Airborne Express or UPS) and delivery charges prepaid, in which case notice shall be deemed given one (1) business day
after deposit with such courier, (b) facsimile, email, PDF file or other generally-recognized electronic means, in which case
notice shall be deemed given upon transmission provided a copy of such electronic transmission is sent within one (1) day
after electronic transmission by overnight delivery using a nationally-recognized courier and delivery charges prepaid, or
(c) personal delivery or mailed by U.S. certified mail and postage or equivalent charges prepaid, in which case notice shall
be effective upon receipt provided that if any party refuses delivery, such notices shall be deemed given when mailed or, if made
by personal delivery, upon delivery. Any notice sent by facsimile, email, PDF file or other electronic transmission after 5:00
p.m. local time where the Premises are located shall be deemed given the next business day. A party’s address may be changed
by written notice to the other party; provided, however, that no notice of a change of address shall be effective until actual
receipt of such notice. Notice to Tenant may always be delivered to the Premises. Rent shall be payable to Landlord at the address
set forth in the Basic Lease Terms for rent payments, but shall be considered paid only when received by Landlord.

 

    	 	 13	 

     

    

 

		16.	SUBORDINATION
                                         AND ATTORNMENT, TRANSFER OF BUILDING, ESTOPPELS

		16.1	Subordination
                                         and Attornment.

This
Lease shall be subject to and subordinate to any mortgages, deeds of trust, ground lease, master lease, and land sale contracts
(hereafter collectively referred to as “encumbrances”) and to any covenants, conditions and restrictions (“CC&Rs”),
in each such case applicable to encumbrances and CC&Rs now existing against the Building. At Landlord’s option this
Lease shall be subject and subordinate to any future encumbrance, ground lease, master lease or CC&Rs hereafter placed against
the Building (including the underlying land) or any modifications of existing encumbrances, and Tenant shall execute such documents
as may reasonably be requested by Landlord or the holder of the encumbrance to evidence this subordination within ten (10) days
of request therefor. If any encumbrance is foreclosed, then if the purchaser at foreclosure sale gives to Tenant a written agreement
to recognize Tenant’s Lease, Tenant shall attorn to such purchaser and this Lease shall continue.

 

		16.2	Transfer
                                         of Building.

 

If
the Building is sold or otherwise transferred by Landlord or any successor, Tenant shall attorn to the purchaser or transferee
and recognize it as the landlord under this Lease, and, provided the purchaser or transferee assumes all obligations under this
Lease thereafter accruing, the transferor shall have no further liability hereunder for obligations accruing after the date of
transfer.

 

		16.3	Estoppels.

 

Either
party will within ten (10) days after notice from the other execute, acknowledge, and deliver to the other party a certificate
certifying whether or not this Lease has been modified and is in full force and effect; whether there are any modifications or
alleged breaches by the other party; the dates to which rent has been paid in advance, and the amount of any Security Deposit
or prepaid rent; and any other facts that may reasonably be requested. If requested by the holder of any encumbrance, or any underlying
lessor, Tenant will agree to give such holder or lessor notice of and an opportunity to cure any default by Landlord under this
Lease.

 

		17.	ATTORNEY
                                         FEES

 

In
any litigation arising out of this Lease, including any bankruptcy proceeding, the prevailing party shall be entitled to recover
attorney fees at trial and on any appeal or petition for review. If Landlord incurs attorney fees because of a default by Tenant,
Tenant shall pay all such fees whether or not litigation is filed. If Landlord employs a collection agency to recover delinquent
charges, Tenant agrees to pay all collection agency and other fees charged to Landlord in addition to rent, late charges, interest,
and other sums payable under this Lease.

 

		18.	QUIET
                                         ENJOYMENT

 

Landlord
warrants that as long as Tenant complies with all terms of this Lease, it shall be entitled to possession of the Premises free
from any eviction or disturbance by Landlord or parties claiming through Landlord. This covenant of quiet enjoyment shall in no
event entitle Tenant to any claims against Landlord arising out of any construction noise that may from time to time occur during
the term of this Lease, including, without limitation, construction noise for the performance of tenant improvements.

 

    	 	 14	 

     

    

 

		19.	LIMITATION
                                         ON LIABILITY

Notwithstanding
any provision in this Lease to the contrary, neither Landlord nor its managing agent or employees shall have any liability to
Tenant for loss or damages to Tenant’s property from any cause (unless the result of Landlord’s gross negligence or
willful misconduct), nor arising out of the acts of other tenants of the Building or third parties, nor any liability for consequential
damages, nor liability for any reason which exceeds the value of Landlord’s interest in the Building.

 

		20.	ADDITIONAL
                                         RENT

 

		20.1	Additional
                                         Rent: Operating Expenses and Real Estate Taxes.

 

Tenant
shall pay as additional rent Tenant’s Proportionate Share of operating expenses and real property taxes for the Building.
Effective January 1 of each year Landlord shall estimate the operating expenses and real property taxes. Monthly rent for that
year shall be increased by one-twelfth of Tenant’s Proportionate Share of operating expenses and real property taxes, provided
that Landlord may revise its estimate during any year with reasonable cause and the additional estimate shall be payable as equal
additions to rent for the remainder of the calendar year. Following the end of each calendar year, Landlord shall compute Tenant’s
actual Proportionate Share of operating expenses and real property taxes and bill Tenant for any deficiency or credit Tenant with
any excess collected. Tenant shall pay any such deficiency within thirty (30) days after Landlord’s billing, whether or
not this Lease shall have expired or terminated at the time of such billing.

 

		20.1.1	As
                                         used herein “real property taxes” as used herein shall mean all taxes and
                                         assessments of any public authority against the Building and the land on which it is
                                         located, the cost of contesting any tax and any form of fee or charge imposed on Landlord
                                         as a direct consequence of owning or leasing the Premises, including but not limited
                                         to, rent taxes, gross receipt taxes, leasing taxes, or any fee or charge wholly or partially
                                         in lieu of or in substitution for ad valorem real property taxes or assessments, whether
                                         now existing or hereafter enacted. If a separate assessment or identifiable tax increase
                                         arises because of improvements to the Premises, then Tenant shall pay one hundred percent
                                         (100%) of such increase.

 

As
used herein, “operating expenses” shall mean all costs of operating, maintaining, managing, replacing and repairing
the Building as determined by standard real estate accounting practice, including, but not limited to: all water and sewer charges
not separately metered and paid by tenants; the cost of natural gas and electricity provided to the Building not separately metered
and paid by tenants; janitorial and cleaning supplies and services for the common areas of the Building; administration costs,
management fees not to exceeds five percent of gross revenues for the Building; superintendent fees; security services, if any;
insurance premiums; licenses, permits for the operation and maintenance of the Building and all of its component elements and
mechanical systems; ordinary and emergency repairs and maintenance, and the annual amortized capital improvement cost (amortized
over the useful life of the improvement for any capital improvements to the Building. Without limiting the generality of the foregoing,
if Landlord makes an expenditure for a capital improvement to the Building (or any portion thereof) by installing energy-, water-,
or labor-saving devices to reduce operating expenses or to comply with any law, rule, regulation or other legal requirement or
Green Agency Rating pertaining to the Building, and if, under generally accepted accounting principles, such expenditure is not
a current expense, then the cost thereof shall be amortized over a period equal to the useful life of such improvement, determined
in accordance with generally accepted accounting principles, and the amortized costs allocated to each calendar year during the
term, together with an imputed interest amount calculated on the unamortized portion thereof using an interest rate of eight percent
(8%) per annum, shall be treated as an operating expense (a “Permitted Capital Expenditure”). In the event the average
occupancy level of the Building for any calendar year was or is not one hundred percent (100%) of full occupancy, then the estimated
and actual operating expenses for such year shall be proportionately adjusted by Landlord to reflect those costs which have occurred
had the Building been one hundred percent (100%) occupied during such year. Operating Expenses do not include the cost of tenant
improvements. Operating expenses, excluding real estate taxes and insurance premiums, shall not increase by more than five percent
(5%) annually. In no event shall Tenant be required to pay Controllable Expenses in excess of the Controllable Expense Cap. As
used herein “Controllable Expenses” are those Operating Expenses for which Landlord has exclusive control over the
amount of increase over such Operating Expenses, and in no event shall Controllable Expenses include insurance premiums and deductibles,
utility charges, Real Property Taxes, or Non-Recurring Costs (as defined below). As used herein, the Controllable Expense Cap
shall be an amount equal to the amount of the Controllable Expenses for the Building during the calendar year 2017, which cap
amount shall be annually increased by five percent (5%) on each January 1st thereafter. “Non-Recurring Costs”
shall mean Operating Expenses that are not customarily incurred and budgeted monthly for by owners of comparable projects in the
Portland, Oregon area, or are materially in excess of such customary and budgeted monthly costs, such as costs incurred due to
unusual weather (i.e. snow and ice removal, wind damage, excessive ground water), labor trouble, shortages in supplies, utility
shortages or black-outs and costs that may arise in connection with a force majeure event or costs that do not occur annually.

 

    	 	 15	 

     

    

 

		20.2	Disputes.

If
Tenant disputes any computation of operating expenses in Section 20, it shall give notice to Landlord not later than sixty (60)
days after the notice from Landlord describing the computation in question. If Tenant fails to give such a notice, the computation
by Landlord shall be binding and conclusive between the parties for the period in question. If Tenant gives a timely notice, the
dispute shall be resolved by an independent CPA selected by Landlord and approved by Tenant in Tenant’s reasonable discretion,
whose decision shall be conclusive between the parties. Each party shall pay one-half of the fee of such CPA for making such determination
except that if the adjustment in favor of Tenant does not exceed five percent (5%) of the escalation amounts for the year in question,
Tenant shall pay (i) the entire cost of any such third-party determination; and if the decision of the CPA in favor of the Tenant
exceeds seven percent (7%) of the amount for the year in question, Landlord shall pay the entire cost of the CPA. If the adjustment
in favor of Tenant is between five percent (5%) and seven percent (7%), each party shall pay one-half of the fee of the CPA. The
CPA shall not be paid on a contingency-fee basis. Landlord shall promptly credit any sums found owing to Tenant, and if the Lease
has expired or been terminated, Landlord shall promptly refund such sums to Tenant. Nothing herein shall reduce Tenant’s
obligations to make all payments as required by this Lease. In no event shall Landlord have any liability to Tenant based on its
calculation of additional rent or rent adjustments except and only the obligation to cause any correction to be made pursuant
to this Section 20.2. Tenant shall maintain as strictly confidential the existence and resolution of any dispute regarding rent
charges hereunder.

 

		21.	HAZARDOUS
                                         MATERIALS

 

Neither
Tenant nor Tenant’s agents or employees shall cause or permit any Hazardous Material, as hereinafter defined, to be brought
upon, stored, used, generated, released into the environment, or disposed of on, in, under, or about the Premises, except reasonable
quantities of cleaning supplies and office supplies necessary to or required as part of Tenant’s business that are generated,
used, kept, stored, or disposed of in a manner that complies with all laws regulating any such Hazardous Materials and with good
business practices. Tenant covenants to remove from the Premises (or the Building, if applicable), upon the expiration or sooner
termination of this Lease and at Tenant’s sole cost and expense, any and all Hazardous Materials brought upon, stored, used,
generated, or released into the environment by Tenant, Tenant’s principals, agents, employees, contractors, or invitees
during the term of this Lease. To the fullest extent permitted by law, Tenant hereby agrees to indemnify, defend, protect, and
hold harmless Landlord, Landlord’s managing agent and their respective agents and employees, and their respective successors
and assigns, from any and all claims, judgments, damages, penalties, fines, costs, liabilities, and losses that arise during or
after the term directly or indirectly from the use, storage, disposal, release, or presence of Hazardous Materials on, in, or
about the Premises which occurs during the term of this Lease and caused by Tenant, Tenant’s principals, agents, employees,
contractors, or invitees. Tenant shall promptly notify Landlord of any release of Hazardous Materials in, on, or about the Premises
that Tenant or Tenant’s agents or employees become aware of during the term of this Lease, whether caused by Tenant, Tenant’s
agents or employees, or any other persons or entities. As used herein, the term “Hazardous Materials” shall mean any
hazardous or toxic substance, material, or waste which is or becomes regulated by any local or state governmental authority or
the United States Government. The term “Hazardous Materials” shall include, without limitation, any material or substance
that is (i) defined as a “hazardous waste,” “extremely hazardous waste,” “restricted hazardous waste,”
“hazardous substance,” “hazardous material,” or “waste” under any federal, state, or local
law, (ii) petroleum, and (iii) asbestos. The provisions of this Section 21, including, without limitation, the indemnification
provisions set forth herein, shall survive any termination of this Lease. Landlord represents and warrants to Tenant that to the
best of Landlord’s knowledge that there are no Hazardous Materials in, on, under, or about the Premises in violation of
applicable laws.

 

    	 	 16	 

     

    

 

		22.	MISCELLANEOUS

 

		22.1	Complete
                                         Agreement; No Implied Covenants.

 

This
Lease constitutes the entire agreement of the parties and supersedes all prior written and oral agreements and representations
and there are no implied covenants or other agreements between the parties except as expressly set forth in this Lease. Neither
Landlord nor Tenant is relying on any representations other than those expressly set forth herein.

 

		22.2	Governing
                                         Law.

 

This
Lease shall be construed under the laws of the State of Oregon.

 

		22.3	Partial
                                         Invalidity.

 

If
any provision of this Lease or the application thereof to any person or circumstance shall to any extent be held invalid, then
the remainder of this Lease or the application of such provision to persons or circumstances other than those as to which it is
held invalid shall not be affected thereby, and each provision of this Lease shall be valid and enforced to the fullest extent
permitted by law.

 

		22.4	Space
                                         Leased AS IS.

 

Except
for the Landlord’s work described in Exhibit “B,” and subject to the Landlord’s warranties and
representation and its general duties of maintenance and repair, the Premises are leased AS IS in the condition now existing with
no alterations or other work to be performed by Landlord.

 

		22.5	Captions;
                                         Construction

 

The
titles to the Sections of this Lease are descriptive only and are not intended to change or influence the meaning of any Section
or to be part of this Lease. All references to “days” in this Lease shall be construed to mean calendar days unless
otherwise expressly provided and all references to “business days” shall be construed to mean days on which charter
banks are open for business where the Premises are located.

 

		22.6	Nonwaiver.

 

Failure
by either party to promptly enforce any regulation, remedy, or right of any kind under this Lease shall not constitute a waiver
of the same and such right or remedy may be asserted at any time after the party becomes entitled to the benefit thereof notwithstanding
delay in enforcement.

 

		22.7	Consent.

 

Except
where otherwise provided in this Lease, either party may withhold its consent for any reason or for no reason whenever that party’s
consent is required under this Lease.

 

		22.8	Force
                                         Majeure.

 

If
performance by Landlord of any portion of this Lease is made impossible by any prevention, delay, or stoppage caused by governmental
approvals, war, acts of terrorism, strikes, lockouts, labor disputes, acts of God, inability to obtain services, labor, or materials
or reasonable substitutes for those items, governmental actions, civil commotions, fire or other casualty, or other causes beyond
the reasonable control of Landlord, performance by Landlord for a period equal to the period of that prevention, delay, or stoppage
is excused.

 

    	 	 17	 

     

    

 

		22.9	Commissions.

Each
party represents that it has not had dealings with any real estate broker, finder, or other person with respect to this Lease
in any manner, except for the broker(s) identified in the Basic Lease Terms. Tenant hereby agrees to indemnify, defend and hold
Landlord harmless for, from and against all claims for any brokerage commissions, finder’s fees or similar payments by any
person other than Tenant’s broker identified herein arising from Tenant’s acts and all costs, expenses and liabilities
incurred in connection with such claims, including reasonable attorneys’ fees and costs. Landlord hereby agrees to indemnify,
defend and hold Tenant harmless for, from and against all claims for any brokerage commissions, finder’s fees or similar
payments by any person arising from Landlord’s acts and all costs, expenses and liabilities incurred in connection with
such claims, including reasonable attorneys’ fees and costs. Landlord shall pay a leasing commission in accordance with
a separate agreement between Landlord and Landlord’s broker and Tenant’s broker.

 

		22.10	Successors.

 

Subject
to Section 10, this Lease shall bind and inure to the benefit of the parties, their respective heirs, successors, and permitted
assigns.

 

		22.11	Financial
                                         Reports.

 

Within
ten (10) days after Landlord’s request, Tenant will furnish Tenant’s most recent financial statements to Landlord
prepared in accordance with generally accepted accounting principles, certified by Tenant or an independent auditor to be true
and correct. Tenant will discuss its financial statements with Landlord and will give Landlord access to Tenant’s books
and records in order to enable Landlord to verify the financial statements. Landlord will not disclose any aspect of Tenant’s
financial statements except (1) to Landlord’s lenders or prospective purchasers of the Building who have executed a sales
contract with Landlord, (2) in litigation between Landlord and Tenant, or (3) if required by court order. Notwithstanding the
foregoing, so long as Tenant’s financial statements are publicly available online, Tenant shall not be required to provide
financial statements directly to Landlord.

 

		22.12	Waiver
                                         of Jury Trial. 

To
the maximum extent permitted by law, Landlord and Tenant each waive right to trial by jury in any litigation arising out of or
with respect to this Lease.

 

		22.13	Executive
                                         Order 13224.

Tenant
hereby certifies all persons or entities holding any legal or beneficial interest whatsoever in Tenant are not included in, owned
by, controlled by, acting for or on behalf of, providing assistance, support, sponsorship, or services of any kind to, or otherwise
associated with any of the persons or entities referred to or described in Executive Order 13224 - Blocking Property and Prohibiting
Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism, as amended.

 

		22.14	Intentionally
                                         Deleted.

 

		22.15	Confidentiality.

 

Landlord
and Tenant shall keep the content and all copies of this Lease, all related documents and amendments, and all proposals, materials,
information (including but not limited to rental terms, rent abatement, construction allowance, and any other concessions or terms
of the business deal), and matters relating hereto strictly confidential and shall not disclose, divulge, disseminate or distribute
any of the same, or permit the same to occur, except to the extent reasonably required for proper business purposes by Landlord’s
or Tenant’s employees, attorneys, agents, insurers, auditors, lenders and permitted successors and assigns (and Landlord
shall obligate any such parties to whom disclosure is permitted to honor the confidentiality provisions hereof) and except as
may be required by law, securities regulations, or court proceedings. This confidentiality provision shall be binding upon the
parties hereto and their respective successor and assigns and shall survive the expiration of this Lease. Tenant and its representatives
shall be prohibited from issuing any press release(s) or communicating with the media regarding the proposed or agreed to transaction,
in which Tenant has not received prior written authorization from Landlord.

 

    	 	 18	 

     

    

 

		22.16	Building
                                         Name and Signage.

Landlord
shall have the right at any time to install, affix and maintain any and all signs on the interior and exterior of the Building
as Landlord may, in its sole discretion, desire. Tenant shall not use the name of the Building or use pictures or illustrations
of the Building in advertising or other publicity or for any purpose other than as the address of the business to be conducted
by Tenant in the Premises, without the prior written consent of Landlord. Additionally, Landlord shall have the exclusive right
at all times during the Lease term to change, modify, add to or otherwise alter the name, number or designation of the Building,
and Landlord shall not be liable for claims or damages of any kind which may be attributed thereto or result therefrom.

 

		22.17	Mold.

 

Landlord
represents and warrants that to the best of its knowledge the Premises is free from mold. Tenant shall not allow or permit any
conduct or omission at the Premises that will promote or allow the production or growth of mold, spores, fungus, or any other
similar organism, and shall indemnify and hold Landlord harmless from any claim, demand, cost, and expense (including attorney
fees) arising from or caused by Tenant’s failure to strictly comply with its obligations under this provision. Similarly,
Landlord will maintain and repair the Building as provided in Section 6.1.1 of the Lease and in a manner that strives to prevent
the production or growth of mold, spores, fungus, or any other similar organism.

 

		22.18	Survival
                                         of Obligations.

 

The
provisions of this Lease with respect to any indemnity obligation or any obligation of either party to pay any sum in order to
perform any act required by this Lease after the expiration or other termination of this Lease shall survive the expiration or
other termination of this Lease.

 

		22.19	Amendments.

 

Except
as herein otherwise provided, no subsequent alteration, amendment, change or addition to this Lease shall be binding upon Landlord
or Tenant unless reduced to writing and executed by both parties.

 

		22.20	Execution;
                                         Counterpart; Signature Transmitted.

 

This
Lease may be executed simultaneously in one or more counterparts, each of which will be considered an original, but all of which
together will constitute one and the same instrument. Signatures transmitted by facsimile, PDF file or other form of electronic
transmission and received by the other party shall be sufficient evidence of the execution hereof by the applicable signatory
and such signatures shall be treated as originals. At the request of a party, the other party will confirm an electronically transmitted
signature page by delivering an original signature page to the requesting party.

 

		22.21	Intentionally
                                         Deleted.

 

		22.22	Exhibit.

 

Exhibits
“A” (Floor Plan Showing Premises), “B” (Landlord’s Work), “C” (Rules and Regulations),
“D” (First Offer Space), and “E” (Lease Confirmation), “F” (Parking Use Agreement) are attached
hereto and incorporated as a part of this Lease. Exhibit F, Parking Agreement is attached hereto.

 

    	 	 19	 

     

    

 

IN
WITNESS WHEREOF, the duly authorized representatives of the parties have executed this Lease as of the Effective Date.

 

	LANDLORD:	Eastbank
    Commerce Center, LLC, 
	 	an
    Oregon limited liability company
	 	 
	 	By:	/s/
    Jonathan Malsin
	 	 	 
	 	Its:	Authorized
    Agent

 

	TENANT:	Eastside
    Distilling Inc,
	 	a
    Nevada corporation
	 	 
	 	By:	/s/
    Grover T. Wickersham
	 	 	 
	 	Its:	CEO

 

    	 	 20	 

     

    

 

EXHIBIT
“A”

Floor Plan Showing Premises

 

 

    	 	 	 1

     

    

 

EXHIBIT
“B”

Landlord’s Work

 

Except
as expressly provided below, Tenant is leasing the Premises in its “as is” condition and Landlord shall have no obligation
to make any improvements to the Premises or provide Tenant with any improvement allowance. Landlord shall, at Landlord’s
sole cost and expense and using such Building standard materials and finishes as Landlord determines appropriate in its reasonable
discretion, and as “Landlord’s Work” perform the following:

 

	 	(1)	Construct
    a demising wall between the columns on the east end of the Premises by the kitchenette, as shown on Exhibit A; and
	 	 	 
	 	(2)	Patch
    and paint the walls of the Premises in Building-standard white.

 

    	 	 	 1

     

    

 

EXHIBIT
“C”

Rules & Regulations

 

Tenant
covenants and agrees to comply with the following rules and regulations as they may be modified or amended during the term:

 

1.
Signs. Unless otherwise permitted in the Lease, no sign, advertisement, display, notice or other lettering shall be exhibited,
inscribed, painted or affixed on any part of the outside of the Premises or inside, if visible from the outside, or outside
the building of which they form a part, and in no event shall Tenant place any signs, displays or other advertising material on
the glass of the leaseline of the Premises. All signs, displays, advertisements, and notices of Tenant shall be professional and
maintained by Tenant in good and attractive condition at Tenant’s expense and risk. Tenant shall not use handbills for advertising
at the Project. Any permanent signs must be approved by Landlord.

 

2.
Directory. The bulletin board or directory of the Building will be provided exclusively for the display of the name and location
of tenants, and Landlord reserves the right to exclude any other names therefrom.

 

3.
Access. The sidewalks, halls, passages, exits, entrances, elevators and stairways shall not be obstructed by any of the tenants
or used by them for any purpose other than for ingress to and egress from their respective Premises. The halls, passages, entrances,
exits, elevators, stairways, balconies and roof are not for the use of the general public and Landlord shall in all cases retain
the right to control thereof and prevent access thereto by all persons whose presence in the judgment of Landlord shall be prejudicial
to the safety, character, reputation and interests of the Building or its tenants; provided, however, that nothing herein contained
shall be construed to prevent access by persons with whom the Tenant normally deals in the ordinary course of Tenant’s business
unless such persons are engaged in illegal activities. No Tenant and no employees or invitees of any Tenant shall go upon the
roof of the Building.

 

4.
Locks. Tenant shall not alter any lock or install any new additional locks or any bolts on any door of the Premises without
the written consent of Landlord.

 

5.
Restrooms. 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. The expense of any breakage,
stoppage or damage resulting from a violation of this rule shall be borne by the Tenant who, or whose employees, sublessees, assignees,
agents, licensees, or invitees, shall have caused it.

 

6.
No Defacing Premises. Tenant shall not overload the floor of the Premises, shall not mark on or drive nails, screw or drill
into the partitions, woodwork or plaster (except as may be incidental to the hanging of wall decorations), and shall not in any
way deface the Premises or any part thereof.

 

7.
Safes and Heavy Equipment. No furniture, freight or equipment of any kind shall be brought into the Building and/or Common
Area Facilities without the consent of Landlord and all moving of the same into or out of the Building and/or Common Area Facilities
shall be done at such time and in such manner as Landlord shall designate. Landlord shall have the right to prescribe the times
and manner of moving all furniture, freight and heavy equipment in and out of the Building and/or Common Area Facilities, including,
but not limited to, requirements for the protection of floor coverings, walls and other surfaces during such moves. Landlord will
not be responsible for loss of or damage to any such safe or property from any cause and all damage done to the Building and/or
Common Area Facilities by moving or maintaining any such safe or other property shall be repaired at the expense of Tenant. There
shall not be used in any Premises, or in the public halls of the Building, either by any tenant or others, any hand trucks except
those equipped with rubber tires and side guards. Elevators must be padded while moving freight via the elevators. All such heavy
equipment shall be subject to the requirements of Rule 26 below.

 

8.
Janitorial Services. Tenant shall not cause any unnecessary labor by reason of Tenant’s carelessness or indifference
in the preservation of good order and cleanliness. Janitorial service for Common Area Facilities shall include ordinary dusting
and cleaning by the janitor assigned to such work and shall not include cleaning of carpets or rugs, except normal vacuuming,
or moving of furniture and other special services. The work of cleaning personnel shall not be hindered by Tenant after 5.30 p.m.
Tenant is responsible for cleaning his or her own Premises. Tenant shall be responsible for transporting waste and rubbish from
the Premises to the Building trash room.

 

    	 	 	 1

     

    

 

9.
Nuisance. Tenant shall not use, keep or permit to be used or kept any noxious gas or substance in 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 Building
by reason of noise, odors and/or vibrations, or interfere in any way with other tenants or those having business in the Building.
No animals (other than those aiding the disabled such as “seeing eye” dogs) or birds shall be brought in or kept in
or about the Premises or the Building and/or Common Area Facilities. No Tenant shall make or permit to be made any disturbing
noises or disturb or interfere with occupants of the Building, or with those having business with such occupants by the use of
any musical instrument, radio, phonograph, unusual noise, or in any other way. No Tenant shall throw anything out of doors or
down the passageways.

 

10.
Permitted Use. No Tenant shall occupy or permit any portion of its Premises to be occupied for the manufacture or sale of
liquor, narcotics, or tobacco in any form, or as a medical office, or as a barber shop or manicure shop except with prior written
consent of Landlord. No Tenant shall advertise for laborers giving an address at the Premises. The Premises shall not be used
for lodging or sleeping or for illegal purposes.

 

11.
Hazardous Materials. Other than ordinary office supplies and materials used and stored in accordance with applicable laws,
ordinances, governmental rules and regulations, Tenant shall not use or keep in the Premises or the Building and/or Common Area
Facilities any kerosene, gasoline or inflammable or combustible fluid or material or any Hazardous Materials as defined in Section
1.2.4 of the Lease (including but not limited to asbestos or lead based paints) or use any method of heating or air conditioning
other than that supplied by Landlord.

 

12.
Telephones. Landlord will direct electricians as to where and how telephone and telegraph wires are to be introduced. No boring
or cutting for or stringing of wires will be allowed without the consent of Landlord. The location of telephones, call boxes and
other office equipment affixed to the Premises shall be subject to the approval of Landlord.

 

13.
Keys. A reasonable number of keys (including electronic FOBs and cards) to the locks on the entry doors to the Building and
to the Premises shall be furnished by Landlord to Tenant at Tenant’s cost, and Tenant shall not make any duplicate keys.
All keys to the Building, Premises, rooms and toilet rooms shall be obtained from Landlord’s office, and Tenant shall not
from any other source duplicate or obtain keys or have keys made. The Tenant, upon termination of the tenancy, shall deliver to
Landlord the keys to the Building, Premises, rooms and toilet rooms which shall have been furnished and shall pay Landlord the
cost of replacing any lost key or of changing the lock or locks opened by such lost key if Landlord deems it necessary to make
such change. If Landlord determines that unusual burdens are created by Tenant’s access requirements or practices, Tenant
shall (a) bear the cost of such unusual burdens, as determined by Landlord, and (b) if requested by Landlord, make adjustments
so that such burdens are reduced to normal levels. 

 

14.
Floor Covering. No Tenant shall lay linoleum, tile, carpet or other similar floor coverings so that the same shall be affixed
to the floor or the Premises in any manner except as approved by Landlord. The expense of repairing any damage resulting from
a violation of this rule or removal of any floor covering shall be borne by the Tenant by whom, or by whose contractors, agents,
sublessees, licensees, employees or invitees, the floor covering shall have been laid.

 

15.
Premises Closure. Tenant shall see that the doors of the Premises are closed and securely locked before leaving the Building
and that all water faucets, water apparatus and electricity are entirely shut off before Tenant or Tenant’s employees leave
the Building. Tenant shall be responsible for any damage to the Building and/or Common Area Facilities or other tenants caused
by a failure to comply with this rule.

 

16.
Disorderly Conduct. Landlord reserves the right to exclude or expel from the Building and/or Common Area Facilities 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 Building.

 

17.
Tenant Requests. Any requests of Tenant will be considered only upon application at the office of Landlord. Employees of Landlord
shall not be requested to perform any work or do anything outside of their regular duties unless under special instructions from
Landlord.

 

18.
Vending Machines. No vending machine shall be installed, maintained or operated upon the Premises without the written consent
of Landlord, which consent shall not be unreasonably withheld.

 

    	 	 	 2

     

    

 

19.
Bicycles. Bicycles and other vehicles are not permitted inside the Building or its elevators, except in areas designated by
Landlord.

 

20.
Building Name and Address. Landlord shall have the right, exercisable upon thirty (30) days prior written notice to Tenant,
to change the name and/or the street address of the Building of which the Premises is a part.

 

21.
Fire Regulations. Tenant agrees that it shall comply with all fire regulations that may be issued from time to time by Landlord
and Tenant also shall provide Landlord with the names of a designated responsible employee to represent Tenant in all matters
pertaining to fire regulations.

 

22.
Tenant Advertising. Without the written consent of Landlord, Tenant shall not use the name of the Building and/or Common Area
Facilities in connection with or in promotion or advertising the business of Tenant except as Tenant’s address.

 

23.
Emergency Information. Tenant must provide Landlord with names and telephone numbers to contact in case of emergency. Tenant
must fill out a tenant emergency information sheet and return it to Landlord’s office within three (3) days of occupancy.

 

24.
Installation of Burglar and Informational Services. If Tenant requires telegraphic, telephonic, burglar alarm or similar services,
it shall first obtain, and comply with, Landlord’s instructions in their installation.

 

25.
Deliveries. The Building freight elevator(s) shall be available for use by all tenants in the Building, subject to such reasonable
scheduling as Landlord, in its discretion, shall deem appropriate. No equipment, materials, furniture, packages, supplies, merchandise
or other property will be received in the Building or carried in the elevators except between such hours and in such elevators
as may be designated by Landlord. Tenant’s initial move in and subsequent deliveries of bulky items, such as furniture,
safes and similar items shall, unless otherwise agreed in writing by Landlord, be made during the hours of 6:00 p.m. to 6:00 a.m.
or on Saturday or Sunday. Deliveries shall be limited as set forth in the Lease. No deliveries shall be made which impede or interfere
with other tenants or the operation of the Building.

 

26.
Floor Loads. 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. Landlord shall have the right to prescribe the weight, size and position
of all equipment, materials, furniture or other property brought into the Building and/or Common Area Facilities. Heavy objects
shall, if considered necessary by Landlord, stand on such platforms as determined by Landlord to be necessary to properly distribute
the weight, which platforms shall be provided at Tenant’s expense. Business machines and mechanical equipment belonging
to Tenant, which cause noise or vibration that may be transmitted to the structure of the Building and/or Common Area Facilities
or to any space therein to such a degree as to be objectionable to Landlord or to any tenants in the Building, shall be placed
and maintained by Tenant, at Tenant’s expense, on vibration eliminators or other devices sufficient to eliminate noise or
vibration. The persons employed to move such equipment in or out of the Building and/or Common Area Facilities must be acceptable
to Landlord. Landlord will not be responsible for loss of, or damage to, any such equipment or other property from any cause,
and all damage done to the Building and/or Common Areas by maintaining or moving such equipment or other property shall be repaired
at the expense of Tenant

 

27.
Energy Conservation. Tenant shall not waste electricity, water or air conditioning and agrees to cooperate fully with Landlord
to assure the most effective operation of the Building’s heating and air-conditioning and to comply with any governmental
energy-saving rules, laws or regulations of which Tenant has actual notice, and shall refrain from attempting to adjust controls.
Tenant shall keep corridor doors closed.

 

28.
No Antennas. Tenant shall not install any radio or television antenna, loudspeaker or other devices on the roof or exterior
walls of the Building and/or Common Area Facilities without obtaining Landlord’s prior approval as set forth in the Lease.
Tenant shall not interfere with radio or television broadcasting or reception from or in the Building or elsewhere.

 

29.
No Soliciting. Canvassing, soliciting and distribution of handbills or any other written material, and peddling in the Building
and/or Common Area Facilities are prohibited, and Tenant shall cooperate to prevent such activities.

 

    	 	 	 3

     

    

 

30.
Prohibited Uses. The Premises shall not be used for any improper, immoral or objectionable purpose. No cooking shall be done
or permitted on the Premises without Landlord’s consent, except that use by Tenant of Underwriters Laboratory approved equipment
for brewing coffee, tea, hot chocolate and similar beverages or use of microwave ovens, dishwashers and refrigerators for employee
use shall be permitted, provided that such equipment and use is in accordance with all applicable federal, state, county and city
laws, codes, ordinances, rules and regulations. 

 

31.
Enforcement of Rules. Landlord may waive any one or more of these Rules and Regulations for the benefit of Tenant or any other
tenant but no such waiver by Landlord shall be construed as a waiver of such Rules and Regulations in favor of Tenant, nor prevent
Landlord from thereafter enforcing any such Rules and Regulations against any or all of the tenants of the Building.

 

32.
Lease. These Rules and Regulations are in addition to, and are made a part of, the terms, covenants, agreements and conditions
of Tenant’s Lease of its Premises in the Building. In the event the Rules and Regulations conflict with any term of the
Lease, the terms of the Lease shall control.

 

33.
Additional Rules. Landlord reserves the right to make such other Rules and Regulations or amendments hereto as, in its reasonable
judgment, may from Time to time be needed for safety and security, for care and cleanliness of the Building and/or Common Area
Facilities and for the preservation of good order therein. Tenant agrees to abide by all such Rules and Regulations hereinabove
stated and any additional rules and regulations which are adopted.

 

34.
Observance of Rules. Tenant shall be responsible for the observance of all of the foregoing rules by Tenant’s employees,
agents, licensees, sublessees, assigns, and invitees.

 

35.
Loading Dock and Service Corridor. The loading dock and service corridor are not for the use of the general public and Landlord
shall in all cases retain the right to control thereof and prevent access thereto by all persons whose presence in the judgment
of Landlord shall be prejudicial to the safety, character, reputation and interests of the Building or its tenants, or invitees;
provided that Tenant or its building-approved contractors shall be able to use the loading dock in its normal course of loading
and unloading activities, for articles to be delivered to or received from the Tenant’s Premises. Children under the age
of 18 are specifically prohibited from being in the loading dock and service corridor area at any time, unless prior written permission
is received from Landlord.

 

36.
Smoking. As more fully set forth in the Lease, Landlord has designated the entire Building as a smoke free zone, including
20 feet from any Building entry or opening. The Tenant shall not permit smoking in the Premises.

 

37.
Animals. Except as allowed herein, no animals, except those assisting handicapped persons, shall be brought into the Buildings
or kept in or about the Premises. Dogs are permitted in the Common Area Facilities and the Premises only if on a leash, currently
licensed and fully inoculated as required by law. In no event shall any dog be left unattended to in the Common Areas or in the
Premises. No dog may engage in any threatening behavior, either to persons or other dogs. All damage caused by any dog will be
the responsibility of the Tenant. No dog will be allowed to deposit any waste in or around the Building. Landlord reserves the
right to exclude any dog from the Building.

 

38.
Window Coverings. Landlord shall have the right to designate and approve standard window coverings for the Premises and to
establish rules to assure that the Building presents a uniform exterior appearance. Tenant shall ensure, to the extent reasonably
practicable, that window coverings are closed on windows in the Premises while they are exposed to the direct rays of the sun.

 

39.
Outside Contractors. All contractors, contractor’s representatives and installation technicians performing work in the
Building shall be subject to Landlord’s prior approval and shall be required to comply with Landlord’s standard rules,
regulations, policies and procedures, which may be revised from time to time.

 

    	 	 	 4

     

    

 

EXHIBIT
“D”

First Offer Space

 

 

    	 	 	 1

     

    

 

EXHIBIT
“E”

Lease
Confirmation

 

This
Lease Confirmation is made ________________, 201_, by Eastside Distilling Inc (“Tenant”) and Eastbank Commerce
Center, LLC (“Landlord”), who agree as follows:

 

1.
Landlord and Tenant entered into a lease dated _______, 2017, in which Landlord leased to Tenant and Tenant leased
from Landlord the Premises described in Section 1.1 of said Lease (“Premises”). All capitalized terms herein are as
defined in the Lease.

 

2.
Pursuant to the Lease, Landlord and Tenant agreed to and do hereby confirm the following matters as of the commencement of the
Term:

 

a.
___________, 2017 is the Commencement Date of the Term of the Lease;

 

b.
___________, 20____ is the Expiration Date of the Term of the Lease;

 

c.
The initial monthly Base Rent under the Lease, subject to adjustments as provided in the Lease, is __________.

 

3.
Tenant confirms that:

 

a.
It has accepted possession of the Premises as provided in the Lease;

 

b.
The improvements required to be furnished by Landlord under the Lease have been furnished (subject to any corrective work or punch-list
items of which Tenant has notified Landlord in accordance with the Lease);

 

c.
Landlord has fulfilled all its duties of an inducement nature;

 

d.
The Lease is in full force and effect and has not been modified, altered, or amended, except as follows:

 

_________________________________________________________

 

_______________________________________________;
and

 

e.
There are no setoffs or credits against rent, and no Security Deposit or prepaid rent has been paid except as provided by the
Lease.

 

4.
The provisions of this Lease Confirmation shall inure to the benefit, or bind, as the case may require, the parties and their
respective successors and assigns, subject to the restrictions on assignment and subleasing contained in the Lease.

 

Initials

 

Landlord:
_________________

Tenant:
___________________

 

    	 	 	 1

     

    

 

EXHIBIT
“F”

Parking
Use Agreement

 

PARKING
USE AGREEMENT

 

	PARTIES:	Eastbank
    Commerce Center, LLC 	(“Landlord”)
	 	75
    SE Yamhill St., Suite 201	 
	 	Portland,
    Oregon 97214 	 
	 	 	 
	 	Eastside
    Distilling Inc, a Nevada corporation	(“Tenant”)
	 	1001
    SE Water Avenue, Suite 390	 
	 	Portland,
    OR 97214	 

 

 

WHEREAS,
Landlord and Tenant are parties to that certain Eastside Distilling Lease dated September 29, 2017 (the "Lease"), with
respect to certain office space containing approximately 3,050 rentable square feet in the building owned by Landlord located
at 1001 SW Water Avenue (the "Building").

 

WHEREAS,
pursuant to the Lease, Landlord has agreed to rent to Tenant the Parking Space(s) 29, 33, 55, and 56 in the lot located in the
courtyard of the Building or the Taylor Street Lot located at the west end of SE Taylor Street of the Building subject to the
terms and conditions of this Parking Use Agreement (this “Agreement”).

 

WHEREAS,
this Agreement herein constitutes the entirety of the parking arrangement by and between the parties herein.

 

In
satisfaction of the Lease provision pertaining to Tenant’s right to use parking located at the Building, Landlord and Tenant
desire to enter into this Agreement, specifically as follows:

 

AGREEMENT

 

1.
Description of Parking Spaces. Landlord grants Tenant the right to use Four (4) parking space, consisting of Four (4) single
parking stalls (“Dedicated Parking Spaces”). If at any time Tenant chooses to use less than the Four (4) Dedicated
Parking Spaces, Tenant shall provide Landlord not less than thirty (30) days prior written notice of such decision, and, after
such thirty (30) day period, Tenant shall have no further right to use the parking spaces that Tenant relinquished in its notice
to Landlord.

 

2.
Term. The term of this Agreement shall be for a period commencing on the Commencement Date with respect to Suite 390 of
the Premises (as defined in the Lease) and terminating on the earlier to occur of the expiration or earlier termination of the
Lease.

 

3.
Rent. Landlord shall provide the use of the Dedicated Parking Spaces at no cost to Tenant during the Term of the Lease.
If Tenant provides any of the Dedicated Parking Spaces to a subtenant or any other third party, any cash net profit, or the net
value of any other consideration received by Tenant as a result of such transaction shall be paid to Landlord promptly following
its receipt by Tenant.

 

4.
Authorized Use. The Dedicated Parking Spaces may be used for vehicle parking only and otherwise in compliance with the
terms and provisions of the Lease. Tenant shall not allow derelict or disabled vehicles on the Dedicated Parking Spaces and Tenant
shall promptly remove any such vehicles at Tenant’s sole risk and cost. Tenant shall not utilize the Dedicated Parking Spaces
for storage, repair, or maintenance of any kind. All other uses are expressly prohibited.

 

5.
As Is. Tenant has inspected the Dedicated Parking Spaces and accepts them in AS IS, WHERE IS condition.

 

    	 	 	 1

     

    

 

6.
Relocation. Landlord reserves the right at any time during the Term to relocate Tenant’s Dedicated Parking Spaces;
provided such Relocated Dedicated Parking Spaces are within a five hundred (500) foot radius of and of comparable quality to Dedicated
Parking Spaces.

 

7.
Towing. Towing is the sole responsibility of the tenant. Tenant shall designate one individual who is authorized to impound
and notify Landlord of their decision. Sergeant’s Towing will only allow a vehicle to be towed from Tenant’s parking
spot(s) if reported by the authorized individual.

 

8.
Exemption from Liability, Hold Harmless and Indemnity. Tenant agrees that Landlord, its affiliates, managing agent, officers,
directors, employees, agents and invitees shall have no liability for, and Tenant shall, to the extent it is legally therefor,
indemnify, defend, and hold harmless Landlord, its affiliates, managing agent, officers, directors, employees, agents and invitees
from and against, any and all liabilities, penalties, fines, forfeitures, demands, claims, costs, and expenses incidental thereto,
including cost of defense, settlement, and reasonable attorneys’ fees, which any or all of them may hereafter suffer, incur,
be responsible for, or pay out as a result of bodily injuries (including death) to any person, or damage (including loss of use)
to any property, arising out of or connected with this Agreement, Tenant’s (and its employees, contractors, or invitees)
use of the Dedicated Parking Spaces or from the conduct of any activity which may be permitted or suffered by Tenant (and its
employees, contractors, or invitees) in or about the Dedicated Parking Spaces or upon the property leased by Landlord pursuant
to the Lease. These indemnity obligations shall survive the expiration or sooner termination of this Agreement.

 

9.
Default. The failure of Tenant to comply with any term of condition of this Agreement within ten (10) days after written
notice from Landlord (provided, however, the third time in any twelve (12) month period that Tenant fails to timely pay rent for
the Dedicated Parking Spaces as required in Section 3 of this Agreement shall be an automatic default of this Agreement and no
additional notice from Landlord shall be required), specifying the nature of the breach, shall be a default under this Agreement.
Upon such a default, Landlord, at its option and in addition to any other rights and remedies it may have, may terminate this
Agreement on ten (10) days written notice to Tenant. If this Agreement is terminated, Landlord may re-enter, take possession of
the Dedicated Parking Spaces, and remove Tenant by legal action or by self-help, with the use of reasonable force and without
liability for damages. Landlord may recover from Tenant all reasonable expenses arising from Tenant’s default, including
all unpaid rent, the cost of re-entry, clean-up, refurbishing, removal of Tenant’s property, or any other reasonable expense.

 

10.
Attorney’s Fees. In the event any suit, action, or proceeding is brought by either party to establish, obtain, or
enforce any right under this Agreement or for recovery of any amounts hereunder, or for breach of any covenant, term, or condition
hereof, or for any matter in any way arising from the execution of this Agreement, the prevailing party in such action, suit,
or proceeding, including any appeal there from, shall be entitled to recover reasonable attorneys’ fees in addition to its
costs and disbursements.

 

11.
Notices. All notices required or permitted by law or by this Agreement shall be given by certified U.S. mail, postage prepaid,
hand delivery or electronically and addressed as set forth above or to such other place either party at any time may designate
by written notice to the other party.

 

12.
Waiver. Waiver by either party of the strict performance of any provision of this Agreement shall not act as a waiver of
or prejudice the party’s right to require strict performance of the same provision in the future.

 

13.
Governing Law. This Agreement shall be governed by the laws of the State of Oregon, without regard to the conflict of laws
principles thereof, and shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, representatives,
successors, and assignees.

 

14.
Severability. If any clause or provision of this Agreement shall be determined to be illegal, unenforceable, invalid or
void, under present or future laws, then the remainder of this Agreement shall be unaffected and all other provisions of this
Agreement shall remain in full force and effect.

 

15.
Entire Agreement. This Agreement, and all attachments hereto, constitutes the entire understanding and agreement between
the parties relative to the subject matter hereof and supersedes all other prior understandings and agreements, oral or written,
with respect to the subject matter hereof. This Agreement may be amended only by the further written agreement of the parties
hereto.

 

    	 	 	 2

     

    

 

IN
WITNESS WHEREOF, the parties have caused this Agreement to be executed as of September 29, 2017.

 

 

	LANDLORD:	 	TENANT:
	 	 	 
	Eastbank
    Commerce Center, LLC 	 	Eastside
    Distilling Inc.
	 	 	 	 	 
	By:
    	Jonathan
    Malsin	 	 	 
	Its:
    	Authorized
    Agent	 	 	 
	 	 	 	 	 
	By:	/s/
    Jonathan Malsin	 	By:
    	/s/
    Grover T. Wickersham
	 	 	 	 	 
	Title: 	Authorized
    Agent	 	Title:
    	CEO

 

    	 	 	 3

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