Document:

EX-10.15

 Exhibit 10.15 

OFFICE LEASE AGREEMENT 
  

 
 GAINEY CENTER
II 
 8501 NORTH SOTTSDALE ROAD 

SUITE #280 

SCOTTSDALE, ARIZONA 85258 

  

 
 TABLE OF
CONTENTS 
  

							
	 ARTICLE 1.
	 	 SUMMARY AND DEFINITION OF CERTAIN LEASE PROVISIONS AND EXHIBITS
	  	 	1	  
	 ARTICLE 2.
	 	 PREMISES/RIGHT TO USE COMMON AREAS
	  	 	2	  
	 ARTICLE 3.
	 	 TERM
	  	 	2	  
	 ARTICLE 4.
	 	 MINIMUM MONTHLY RENT
	  	 	3	  
	 ARTICLE 5.
	 	 ADDITIONAL RENT/EXPENSE STOP
	  	 	3	  
	 ARTICLE 6.
	 	 PARKING
	  	 	4	  
	 ARTICLE 7.
	 	 RENT TAX AND PERSONAL PROPERTY TAXES
	  	 	4	  
	 ARTICLE 8.
	 	 PAYMENT OF RENT/LATE CHARGES/INTEREST ON PAST-DUE OBLIGATIONS
	  	 	4	  
	 ARTICLE 9.
	 	 SECURITY DEPOSIT
	  	 	4	  
	 ARTICLE 10.
	 	 CONSTRUCTION OF THE PREMISES
	  	 	4	  
	 ARTICLE 11.
	 	 ALTERATIONS
	  	 	4	  
	 ARTICLE 12.
	 	 PERSONAL PROPERTY/SURRENDER OF PREMISES
	  	 	5	  
	 ARTICLE 13.
	 	 LIENS
	  	 	5	  
	 ARTICLE 14.
	 	 USE OF PREMISES/RULES AND REGULATIONS
	  	 	5	  
	 ARTICLE 15.
	 	 RIGHTS RESERVED BY LANDLORD
	  	 	5	  
	 ARTICLE 16.
	 	 QUIET ENJOYMENT
	  	 	5	  
	 ARTICLE 17.
	 	 MAINTENANCE AND REPAIR
	  	 	5	  
	 ARTICLE 18.
	 	 UTILITIES AND JANITORIAL SERVICES
	  	 	6	  
	 ARTICLE 19.
	 	 ENTRY AND INSPECTION
	  	 	6	  
	 ARTICLE 20.
	 	 ACCEPTANCE OF THE PREMISES/LIABILITY INSURANCE
	  	 	6	  
	 ARTICLE 21.
	 	 CASUALTY INSURANCE
	  	 	6	  
	 ARTICLE 22.
	 	 DAMAGE AND DESTRUCTION OF PREMISES
	  	 	7	  
	 ARTICLE 23.
	 	 EMINENT DOMAIN
	  	 	7	  
	 ARTICLE 24.
	 	 ASSIGNMENT AND SUBLETTING
	  	 	7	  
	 ARTICLE 25.
	 	 SALE OF PREMISES BY LANDLORD
	  	 	8	  
	 ARTICLE 26.
	 	 SUBORDINATION/ATTORNMENT/MODIFICATION/ASSIGNMENT
	  	 	8	  
	 ARTICLE 27.
	 	 LANDLORD’S DEFAULT AND RIGHT TO CURE
	  	 	8	  
	 ARTICLE 28.
	 	 ESTOPPEL CERTIFICATES
	  	 	8	  
	 ARTICLE 29.
	 	 TENANT’S DEFAULT AND LANDLORD’S REMEDIES
	  	 	8	  
	 ARTICLE 30.
	 	 TENANT’S RECOURSE
	  	 	10	  
	 ARTICLE 31.
	 	 HOLDING OVER
	  	 	10	  
	 ARTICLE 32.
	 	 GENERAL PROVISIONS
	  	 	10	  
	 ARTICLE 33.
	 	 NOTICES
	  	 	11	  
	 ARTICLE 34.
	 	 BROKER’S COMMISSIONS
	  	 	11	  
	 ARTICLE 35.
	 	 INDEMNIFICATION/WAIVER OF SUBROGATION
	  	 	11	  
	 ARTICLE 36.
	 	 WAIVER OF TRIAL BY JURY
	  	 	12	  

 EXHIBITS: 
  

			
	(A)	  	PREMISES
	(B)	  	RULES AND REGULATIONS
	(C)	  	PARKING RULES AND REGULATIONS
	(D)	  	TENANT IMPROVEMENTS
	(E)	  	CONFIRMATION OF COMMENCEMENT DATE
	(F)	  	COMMERCIAL MOISTURE ADDENDUM
	(G)	  	RENEWAL TERM PROVISIONS

 OFFICE LEASE AGREEMENT 

 
  

THIS OFFICE LEASE AGREEMENT, dated June 12, 2007, is made and entered into by GAINEY CENTER II LLC, a Delaware limited liability company
(the “Landlord”), and LCSI HOLDING, INC., a Delaware corporation (the “Tenant”). In consideration of the mutual promises and representations set forth in this Lease, Landlord and Tenant agree as
follows: 
  

	ARTICLE 1.	SUMMARY AND DEFINITION OF CERTAIN LEASE PROVISIONS AND EXHIBITS 

  

	1.1	The following terms and provisions of this Lease, as modified by other terms and provisions hereof, are included in this Section 1.1 for summary and definitional purposes only. If there is any conflict or
inconsistency between any term or provision in this Section 1.1 and any other term or provision of this Lease, the other term or provision of this Lease shall control: 

 

													
	(a)	 	 Landlord:
	 	Gainey Center II LLC, a Delaware limited liability company
					
	(b)	 	 Address of Landlord for Notices:
	 	Gainey Center II LLC	 	With a	  	Invesco Real Estate
		 	 	c/o CB Richard Ellis Real Estate	 	copy to:	  	Three Galleria Tower, Suite 500
		 	 	1620 S. Stapley Drive, Suite 218	 		  	13155	 	        Noel	  	Road        
		 	 	Mesa, Arizona 85204	 		  	Dallas,	 	        Texas	  	75240        
		 	 	Attn.: Property Manager	 		  	Attn.: Asset Manager
					
	(c)	 	 Tenant:
	 	LCSI Holding, Inc.	 		  	
					
	(d)	 	 Address of Tenant for Notices:
	 	8501 North Scottsdale Road	 		  	
		 	 (Include Main/Hdq. Address)
	 	Suite 280	 		  	
		 		 	Scottsdale, Arizona 85258	 		  	
		 		 	Attn: Wayne G. Monie	 		  	
		
	(e)	 	 Lease Term: Sixty (60) months commencing on the later to occur of: (i) the date on which Landlord achieves Substantial
Completion of the Work (as contemplated by Exhibit D attached hereto), and (ii) August 1, 2007 (the “Commencement Date”), and ending on the last day of the calendar month of the fifth (5th) anniversary of the
Commencement Date.

		
	(f)	 	 Building: The office building located at 8501 North Scottsdale Road, Scottsdale, Arizona 85258 (the
“Building”).

		
	(g)	 	 Premises: Suite 280 on the second floor of the Building, as shown on Exhibit A, consisting of approximately 4,012 Rentable Square
Feet, which has been calculated in conformance with BOMA standards (Z65.1 (1996)).

		
	(h)	 	 Minimum Monthly Rent: Minimum Monthly Rent shall be in the following amounts, plus applicable Rent Tax for each full calendar month
commencing on the Commencement Date:

  

									
	Lease Month	  	 Annual Minimum Rent Rate Per
Rentable Square Foot

(not including Rent Tax)
	 	  	Minimum Monthly Rent
(not including Rent Tax)	 
			
	 1-12
	  	$	33.00	  	  	$	11,033.00	  
	 13-24
	  	$	34.00	  	  	$	11,367.33	  
	 25-36
	  	$	35.00	  	  	$	11,701.67	  
	 37-48
	  	$	36.00	  	  	$	12,036.00	  
	 49-60
	  	$	37.00	  	  	$	12,370.33	  

  

													
	 (i)	 	 Tenant’sBase Share: (see Article 5).

		
	 (j)	 	Expense Stop: The term “Expense Stop” shall mean the actual per square foot (based on Rentable Square Footage) Operating Costs during the 2007 Operating Year (“Base Year”), provided, however,
that for purposes of establishing the Expense Stop, the Operating Costs shall be calculated as if the Building were 95% occupied and 100% assessed for taxes.
		
	 (k)	 	Security Deposit: A Security Deposit of $12,000.00 is required and shall be deposited with Landlord at the time this Lease is signed by Tenant and delivered to Landlord
		
	 (l)	 	Parking: Four (4) covered reserved parking spaces at a rental rate of $65.00 per space per month (plus applicable Rent Tax), and four (4) covered unreserved parking spaces at a rental rate of $45.00 per
space per month (plus applicable Rent Tax), and eight (8) uncovered unreserved parking spaces at a rental rate of $25.00 per space per month (plus applicable Rent Tax). The use of uncovered, unreserved parking spaces shall be governed by
Exhibit C attached hereto.
		
	 (m)	 	Building Hours: 6:00 am to 6:00 p.m. Monday through Friday; 8:00 am to 12:00 p.m. Saturday. Closed Sundays and all legal holidays. Subject to conditions and circumstances occurring outside the reasonable control
of Landlord, Tenant shall have reasonable access to the Premises 24 hours per day, seven days per week.

  

	1.2	The following exhibits (the “Exhibits”) and addenda are attached hereto and incorporated herein by this reference: 

  
 1 

			
	Exhibit A	  	Premises
	Exhibit B	  	Rules and Regulations
	Exhibit C	  	Parking Rules and Regulations
	Exhibit D	  	Tenant Improvements
	Exhibit E	  	Confirmation of Commencement Date
	Exhibit F	  	Commercial Moisture Addendum
	Exhibit G	  	Renewal Term Provisions

 The Office Lease Agreement and the Exhibits are collectively referred to herein as the
“Lease.” 
  

	ARTICLE 2.	PREMISES/RIGHT TO USE COMMON AREAS 

  

	2.1	Landlord leases to Tenant and Tenant leases from Landlord the Premises, for and subject to the terms and provisions set forth in this Lease. This Lease is subject to all liens, encumbrances, parking and access
easements, restrictions, covenants, and all other matters of record, the Rules and Regulations described in Article 14 and the Parking Rules and Regulations described in Article 6. Tenant and Tenant’s agents, contractors,
customers, directors, employees, invitees, and officers (collectively, the “Tenant’s Permittees“1 have a non-exclusive privilege and license, during the Lease Term, to use the non-restricted Common Areas in common with all
other authorized users thereof. 

  

	2.2	For purposes of this Lease, the following terms have the definitions set forth below: 

  

	 	(a)	“Automobile Parking Areas” means all areas designated for automobile parking upon the Land. Automobile Parking Areas are Common Areas, but certain parking areas are restricted. (See Parking
Rules & Regulations). 

  

	 	(b)	“Common Areas” means those areas within the Building and Land not leased to any tenant and which are intended by Landlord to be available for the use, benefit, and enjoyment of all occupants of the
Building. 

  

	 	(c)	“Interior Common Facilities” means lobbies, corridors, hallways, elevator foyers, restrooms, mail rooms, mechanical and electrical rooms, janitor closets, and other similar facilities used by
tenants or for the benefit of tenants on a non-exclusive basis. Access to certain Interior Common Facilities is restricted. 

  

	 	(d)	“Project” means the building located at 8501 North Scottsdale Road, Scottsdale, Arizona 85258 and the parcel(s) of land containing said buildings, all known collectively as Gainey Center II.

  

	 	(e)	“Load Factor” means the quotient of the Rentable Square Footage of the Building divided by the aggregate Usable Square Footage of all premises and occupiable space in the Building, and is subject to
change from time to time, provided that such change shall be in accordance with BOMA standards (Z65.1 (1996)). 

  

	 	(f)	“Rentable Square Footage” means (1) with respect to the Building, the sum of the total area of all floors in the Building (including Interior Common Facilities but excluding stairs, elevator
shafts, vertical shafts, parking areas and exterior balconies), computed by measuring to the exterior surface of permanent outside walls; and (2) with respect to the Premises, the Usable Square Footage of the Premises multiplied by the Load
Factor, in accordance with BOMA standards (Z65.1 (1996)). 

  

	 	(g)	“Usable Square Footage” means the area of the Premises (or other space occupiable by tenants as the case may be) computed by measuring to the exterior surface of permanent outside walls, to the midpoint
of corridor and demising walls and to the Tenant side of permanent interior walls and Interior Common Facilities walls (other than corridor walls), in accordance with BOMA standards (Z65.1 (1996)). 

 

	ARTICLE 3.	TERM 

 The term of this Lease and the Commencement Date shall be as specified in Section 1.1.
If there are delays in Landlord’s delivery of the Premises to Tenant, which delays are not caused solely by Tenant, and/or if Landlord has not achieved Substantial Completion of the Work on or before the scheduled Commencement Date, Landlord
shall not be deemed in default of the Lease, and the parties agree to amend the Commencement Date and Rent (as defined herein) schedule, accordingly. If Landlord has not achieved Substantial Completion of the Work within 60 days after the scheduled
Commencement Date, Tenant’s sole remedies shall be to either enter into a mutually acceptable revision of the appropriate terms of this Lease with Landlord, or to cancel this Lease with ten (10) days written notice to Landlord, in which
event Landlord and Tenant shall have no further rights or obligations under this Lease, except for any duties and obligations that survive a termination of this Lease and except that Landlord shall promptly return any security deposit and pre-paid,
unearned rent to Tenant. Notwithstanding the foregoing, if said delays are caused solely by Tenant, then this Lease, and all of the obligations therein, shall commence on the scheduled Commencement Date. By occupying the Premises, Tenant shall be
deemed to have accepted the Premises in their condition as of the date of such occupancy, subject to the performance of punch-list items that remain to be performed by Landlord, if any. Prior to occupying the Premises, Tenant shall execute and
deliver to Landlord a letter substantially in the form of Exhibit E hereto confirming: (1) the Commencement Date (as defined in the Basic Lease Information) and the expiration date of the initial Term (as defined in the Basic Lease
Information); (2) that Tenant has accepted the Premises; and (3) that Landlord has performed all of its obligations with respect to the Premises (except for punch-list items specified in such letter); however, the failure of the parties to
execute such letter shall not defer the Commencement Date or otherwise invalidate this Lease. Tenant’s failure to execute such document within ten (10) days of receipt thereof from Landlord shall be a default by Tenant under this Lease and
shall be deemed Tenant’s agreement to the contents of such document. 
 Tenant shall have the right to enter the Premises (only after Landlord confirms
to Tenant in writing that the Work has progressed to the point of allowing Tenant to enter the Premises) prior to the Commencement Date (“Early Occupancy”) to take reasonable preparatory measures for its occupancy of the Premises,
including, without limitation, the installation of its trade fixtures, furnishings, and telephone and computer equipment, so long as Tenant’s preparatory measures do not interfere with the Work. Such Early Occupancy shall be subject to all of
the provisions of this Lease, except for the payment of Minimum Monthly Rent and other Rent. 
 Tenant shall have the right to extend the Lease Term in
accordance with the terms and conditions set forth on Exhibit G attached hereto and by this reference made a part hereof. 

  
 2 

	ARTICLE 4.	MINIMUM MONTHLY RENT 

 Tenant shall pay to Landlord, without deduction, setoff, prior notice, or demand,
the Minimum Monthly Rent, payable in advance on the first day of each calendar month during the Lease Term. If the Lease Term commences on a date other than the first day of a calendar month, the Minimum Monthly Rent for that month shall be prorated
on a per diem basis and be paid to Landlord on or before the Commencement Date. 
  

	ARTICLE 5.	ADDITIONAL RENT/EXPENSE STOP 

 Tenant shall pay as additional rent each year the amount, if any, by which
the Tenant’s Share of Operating Costs during each Operating Year of the Lease Term exceeds the Base Share. For purposes of this lease, “Base Share” means an amount equal to the product of the Rentable Square Footage of the
Premises multiplied by the Expense Stop, and “Tenant Share” means an amount equal to the product of the Rentable Square Footage of the Premises multiplied by the actual per square foot Operations Costs during the applicable
Operating Year of the Lease Term. If the Lease Term begins or ends anytime other than the first or last day of an Operating Year, Operating Costs and the Tenant’s Share thereof shall be prorated. Prior to the end of each Operating Year,
Landlord shall provide Tenant with a written statement of Landlord’s estimate of Operating Costs and Tenant’s Estimated Share for the next succeeding Operating Year. If the Estimated Share exceeds the Tenant’s Base Share, Tenant shall
pay Landlord, concurrently with each payment of the Minimum Monthly Rent for the next Operating Year, an amount equal to one-twelfth (1/12) of the amount by which the Estimated Share exceeds the Base Share. Landlord may, at any time, reasonably
revise the Estimated Share and adjust the required monthly payment accordingly. Within ninety (90) days after the end of each Operating Year, or as soon thereafter as reasonably possible, Landlord shall provide Tenant with a statement (the
“Statement”) showing Tenant’s Share of the actual Operating Costs for the preceding Operating Year (the “Actual Share”). If the Actual Share exceeds the Estimated Share paid by Tenant during that Operating Year,
Tenant shall pay the excess at the time the next succeeding payment of Minimum Monthly Rent is payable (or within ten (10) days if the lease term has expired or been terminated). If the Actual Share is less than the Estimated Share paid by
Tenant, Landlord shall apply such excess to payments next falling due under this Article (or refund the same to Tenant or credit amounts due from Tenant if the Lease Term has expired or been terminated). In the event the Building is not fully
occupied during any Operating Year, an adjustment shall be made by Landlord in calculating the Operating Costs for such Operating Year so that the Operating Costs shall be adjusted to the amount that would have been incurred had the Building been
fully occupied during such Operating Year. For purposes of this Lease (a) subject to the limitations set forth below, “Operating Costs” means and includes all costs of management, maintenance, and operation of the Project,
including but not limited to the costs of cleaning, repairs, utilities, air conditioning, heating, plumbing, elevator, parking, landscaping, insurance, property taxes and special assessments, and all other costs which can properly be considered
operating expenses but excluding costs of property additions, alterations for tenants, leasing commissions, advertising, depreciation, interest, income taxes and administrative costs not specifically incurred in the management, maintenance and
operation of the Project; and (b) “Operating Year” means a year beginning January 1 and ending December 31. Tenants with leases expiring or terminating prior to the end of the Operating Year shall be responsible for
their portion of Operating Costs above Tenant’s Base Share based on Landlord’s estimate of Operating Costs. 
 Notwithstanding anything to the
contrary contained in this Lease, the following shall not be included within Operating Costs: 
 Leasing commissions, attorneys’ fees,
costs, disbursements, and other expenses incurred in connection with negotiations or disputes with tenants, or in connection with leasing, renovating, or improving space for tenants or other occupants or prospective tenants or other occupants of the
Building. 
 Expenses relating to services or other benefits of a type that are not provided to Tenant, but which are provided to another
tenant or occupant of the Building. 
 The cost of any service sold to any tenant (including Tenant) or other occupant for which Landlord is
entitled to be reimbursed as an additional charge or rental over and above the basic rent and escalations payable under the lease with that tenant. 

Costs of a capital nature, including but not limited to capital improvements and alterations, capital repairs, capital equipment, and capital
tools as determined in accordance with generally accepted accounting principles, beyond the amortized portion thereof for the then current period. 

Costs incurred due to Landlord’s violation of any terms or conditions of this Lease or any other lease relating to the Building. 

Overhead profit increments paid to Landlord’s subsidiaries or affiliates for management or other services on or to the building or for
supplies or other materials to the extent that the cost of the services, supplies, or materials exceeds the cost that would have been paid had the services, supplies, or materials been provided by unaffiliated parties on a competitive basis. 

All interest, loan fees, and other carrying costs related to any mortgage or deed of trust, and all rental and other payable due under any
ground or underlying lease. 
 Any compensation paid to clerks, attendants, or other persons in commercial concessions operated by Landlord.

 Any costs, fines, or penalties incurred due to violations by Landlord of any governmental rule or authority, this Lease or any other lease
in the Building, or due to Landlord’s gross negligence or willful misconduct. 
 Extraordinary costs for sculpture, paintings, or other
objects of art (nor insurance thereon or extraordinary security in connection therewith). 
 Any other expense that under generally accepted
accounting principles and practice consistently applied would not be considered a normal maintenance or operating expense. 
 Within ninety (90) days
after receipt of the Statement, Tenant shall have the right to audit at Landlord’s office, at Tenant’s expense, Landlord’s accounts and records relating to Operating Costs. Such audit shall be conducted by a certified public
accountant approved by Landlord, which approval shall not be unreasonably withheld. If such audit reveals that Landlord has overcharged Tenant, the amount overcharged shall be paid to Tenant within thirty (30) days after the audit is concluded.
In addition, if the Statement exceeds the actual Operating Costs which should have been charged to Tenant by more than five percent (5%), the reasonable cost of the audit shall be paid by Landlord. 

  
 3 

	ARTICLE 6.	PARKING 

 Nothing contained herein shall be deemed to create liability upon Landlord for any damage to
motor vehicles of Tenant’s Permittees, or from loss of property from within such motor vehicles while parked in the Automobile Parking Areas. Subject to Section 14.2 hereof, Landlord has the right to establish and to enforce against all
users of the Automobile Parking Areas, reasonable rules and regulations (the “Parking Rules and Regulations”). Landlord shall assign and identify Reserved Parking Spaces. Landlord will not police nor be responsible for any vehicle
parked in Tenant’s reserved parking space. 
  

	ARTICLE 7.	RENT TAX AND PERSONAL PROPERTY TAXES 

 Tenant shall pay to Landlord, in addition to, and simultaneously
with, any other amounts payable to Landlord under this Lease, a sum equal to the aggregate of any municipal, county, state, or federal excise, sales, use, or transaction privilege taxes now or hereafter legally levied or imposed against, or on
account of, any amounts payable under this Lease by Tenant or the receipt thereof by Landlord (collectively, “Rent Tax”). Tenant shall pay, prior to delinquency, all taxes levied upon fixtures, furnishings, equipment, and personal
property placed on the Premises by Tenant. 
  

	ARTICLE 8.	PAYMENT OF RENT/LATE CHARGES/INTEREST ON PAST-DUE OBLIGATIONS 

 Tenant shall pay the rent and all other
charges specified in this Lease to Landlord at the address set forth on Section 1.1 of this Lease, or to another person and at another address as Landlord from time to time designates in writing. All monetary obligations of Tenant,
including Minimum Monthly Rent, additional rent, or other charges payable by Tenant to Landlord under the terms of this Lease shall be deemed “Rent”, and any Rent not received within ten (10) days after the due date (the
“Delinquency Date”) thereof shall automatically (and without notice) incur a late charge of five percent (5%) of the delinquent amount. Except as otherwise provided herein, any Rent due to Landlord not paid when due shall bear
interest, from the date due, at the maximum rate then allowable by law or judgments. Payment of such interest shall in no way excuse or cure any default by Tenant under this Lease; provided, however, that interest shall not be payable on late
charges incurred by Tenant nor on any amounts upon which late charges are paid by Tenant. 
  

	ARTICLE 9.	SECURITY DEPOSIT 

 Tenant shall, upon execution of this Lease, deposit with Landlord such Security
Deposit, as security for the performance of terms and provisions of this Lease by Tenant, which shall be returned to Tenant within 10 days after the termination of the Lease if it has discharged its obligations to Landlord in full. The Security
Deposit shall not be used to pay the last month’s lease payment. 
  

	ARTICLE 10.	CONSTRUCTION OF THE PREMISES 

 Except as otherwise set forth on Exhibit D, if any, attached
hereto, Landlord shall have no obligations to construct Tenant’s leasehold improvements or make any alterations to the Premises. Prior to the Commencement Date, any work performed by Tenant or any fixtures or personal property moved onto the
Premises shall be at Tenant’s own risk, Tenant’s entry onto the Premises shall be subject to all provisions of the Lease (other than payment of Rent) and neither Landlord nor Landlord’s agents or contractors shall be responsible to
Tenant for damage or destruction of Tenant’s property. TENANT ACKNOWLEDGES THAT NEITHER LANDLORD NOR ANY MEMBER, MANAGER, AGENT, OFFICER, DIRECTOR, EMPLOYEE OR REPRESENTATIVE OF LANDLORD HAS MADE ANY STATEMENT, PROMISE, WARRANTY OR
REPRESENTATION, AND LANDLORD HEREBY DISCLAIMS ANY SUCH STATEMENT, PROMISE, WARRANTY OR REPRESENTATION REGARDING THE PREMISES, INCLUDING WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, ANY STATEMENT OR REPRESENTATION AS TO THE EXISTENCE OR
AVAILABILITY OF PERMITS OR APPROVALS, THE PHYSICAL NATURE OR CONDITION OF THE PREMISES, SOIL AND SUBSOIL CONDITIONS, SURFACE WATER, UNDERGROUND WATER, THE PREMISES’ FEASIBILITY FOR ANY PARTICULAR PURPOSE, DEVELOPMENT, USE, IMPROVEMENT OR
OPERATION, THE VALUE, CONDITION OF OR COMPLIANCE BY THE PREMISES WITH APPLICABLE LAWS, OR ANY OTHER MATTER OR THING AFFECTING OR RELATED TO THE PREMISES OR ANY FUTURE USE, IMPLEMENTATION, DEVELOPMENT, ENJOYMENT OR OPERATION THEREOF. TENANT AGREES
THAT TENANT, IN EXECUTING, DELIVERING AND/OR PERFORMING THIS LEASE, HAS INSPECTED THE PREMISES, THE CONDITION OF THE PREMISES AND THE PROJECT AND HAS NOT AND DOES NOT RELY UPON, AND THAT LANDLORD DISCLAIMS AND IS NOT LIABLE OR BOUND IN ANY MANNER
BY, ANY EXPRESS OR IMPLIED WARRANTY (INCLUDING ANY WARRANTY AS TO THE PREMISES’ FITNESS FOR A PARTICULAR USE OR PURPOSE), GUARANTY, PROMISE, STATEMENT, REPRESENTATION, ASSURANCE, PROPOSAL OR INFORMATION PERTAINING TO THE PREMISES OR THE
PREMISES’ ZONING, POTENTIAL USE OR DEVELOPMENT, MADE OR FURNISHED BY LANDLORD OR ANY MEMBER, MANAGER, AGENT, EMPLOYEE OR OTHER PERSON REPRESENTING OR PURPORTING TO REPRESENT LANDLORD, WHETHER MADE OR GIVEN DIRECTLY OR INDIRECTLY, VERBALLY OR IN
WRITING. TENANT ACCEPTS THE PREMISES IN ITS “AS IS” CONDITION “WITH ALL DEFECTS AND FAULTS” EXCEPT AS OTHERWISE SPECIFICALLY PROVIDED IN THIS LEASE. 
  

	ARTICLE 11.	ALTERATIONS 

 After completion of Landlord’s construction obligations under Article 10,
Tenant shall not make or cause to be made any further additions, alterations, improvements, Utility Installations or repairs in, on or about the Premises, the Building or the Project without the prior written reasonable consent of Landlord. As used
in this Article, the term “Utility Installation” shall mean power panels, electrical distribution systems, lighting fixtures, air conditioning, plumbing, and telephone and telecommunication wiring and equipment. At the expiration of
the term, Landlord may require the removal of any and all of said additions, alterations, improvements or Utility Installations, and the restoration of the Premises, Building and Project to their prior condition, at Tenant’s expense. Should
Landlord permit Tenant to make its own additions, alterations, improvements or Utility Installations, Tenant may only use such contractor as has been expressly reasonably approved by Landlord, and Landlord may require Tenant to provide Landlord, at
Tenant’s sole cost and expense, a lien and completion bond in an amount equal to one and one-half times the estimated cost of such improvements, to insure Landlord against any liability for mechanic’s and materialmen’s liens and to
insure completion of the work. Should Tenant make any additions, alterations, improvements or Utility Installations without the prior approval of Landlord, or use a contractor not expressly approved by Landlord, Landlord may, at any time during the
Lease Term, require that Tenant remove any part or all of the same. All additions, alterations, improvements and Utility Installations (whether or not such Utility Installations constitute trade fixtures of Tenant), which may be made to the Premises
by Tenant, including but not limited to, floor coverings, panelings, doors, drapes, built-ins, moldings, sound attenuation, and lighting and telephone or communication systems, conduit, wiring and outlets, shall be made and done in a good and
workmanlike manner and of good and sufficient quality and materials and shall be the property of Landlord and remain upon and be surrendered with the Premises at the expiration of the Lease Term, unless Landlord requires their removal as described
above. Notwithstanding the provisions of this Article, Tenant’s personal property and equipment, other than that which is affixed to the Premises so that it cannot be removed without material damage to the Premises or Building or Project, and
other than Utility Installations, shall remain the property of Tenant and may be removed by Tenant as provided herein. Tenant shall provide Landlord with as-built plans and specifications for any additions, alterations, improvements or Utility
Installations. 

  
 4 

	ARTICLE 12.	PERSONAL PROPERTY/SURRENDER OF PREMISES 

 All personal property located in the Premises shall remain the
property of Tenant and may be removed by Tenant not later than the Expiration Date or the earlier termination of the Lease Term. Tenant shall promptly repair, at its own expense, any damage resulting from such removal. All cabinetry, built-in
appliances, wall coverings, floor coverings, window coverings, electrical fixtures, plumbing fixtures, conduits, lighting, and other special fixtures that may be placed upon, installed in, or attached to the Premises by Tenant shall, at the
termination of this Lease be the property of Landlord unless Landlord requires its removal as set forth in Article 11. At the Expiration Date or upon the earlier termination of the Lease Term, Tenant shall surrender the Premises in good condition,
reasonable wear and tear excepted, and shall deliver all keys to Landlord. Tenant shall not be required to remove any of the initial tenant improvements constructed by Landlord. 

 

	ARTICLE 13.	LIENS 

 Tenant shall keep the Premises, Building, and the Project free from any liens arising out of work
performed, material furnished, or obligations incurred due to the actions of Tenant or Tenant’s Permittees or the failure of Tenant to comply with any law. In the event any such lien does attach against the Premises, Building, or Project, and
Tenant does not discharge the lien or post bond (which under law would prevent foreclosure or execution under the lien) within ten (10) days after demand by Landlord, such event shall be a default by Tenant under this Lease and, in addition to
Landlord’s other rights and remedies, Landlord may take any action necessary to discharge the lien at Tenant’s expense. 
  

	ARTICLE 14.	USE OF PREMISES/RULES AND REGULATIONS 

  

	14.1	Without the prior approval of Landlord, Tenant shall not use the Premises for any use other than for general business office purposes (the “Permitted Use”) and Tenant agrees that it will use the
Premises in such manner as to not interfere with or infringe on the rights of other tenants in the Building or Project. Tenant agrees to comply with all applicable laws, ordinances and regulations in connection with its use of the Premises, agrees
to keep the Premises in a clean and sanitary condition, and agrees not to perform any act in the Building which would increase any insurance premiums related to the Building or Project or would cause the cancellation of any insurance policies
related to the Building or Project. Tenant shall not use, generate, manufacture, store, or dispose of, in, under, or about the Premises, the Building, the or the Project or transport to or from the Premises, the Building, the or the Project, any
Hazardous Materials. For purposes of this Lease, “Hazardous Materials” includes, but is not limited to: (i) flammable, explosive, or radioactive materials, hazardous wastes, toxic substances, or related materials; (ii) all
substances defined as “hazardous substances,” “hazardous materials,” “toxic substances,” or “hazardous chemical substances or mixtures” in the Comprehensive Environmental Response Compensation and Liability
Act of 1980, as amended, 42 U.S.C. § 9601, et seq., as amended by Superfund Amendments and Re-authorization Act of 1986; the Hazardous Materials Transportation Act, 49 U.S.C. § 1901, et seq.; the Resource Conservation and Recovery Act, 42
U.S.C. § 6901, et seq.; the Toxic Substances Control Act, 15 U.S.C. § 2601, et seq.; (iii) those substances listed in the United States Department of Transportation Table (49 CFR 172.10 and amendments thereto) or by the Environmental
Protection Agency (or any successor agent) as hazardous substances (40 CFR Part 302 and amendments thereto); (iv) any material, waste, or substance which is (A) petroleum, (B) asbestos, (C) polychlorinated biphenyl’s,
(D) designated as a “hazardous substance” pursuant to § 311 of the Clean Water Act, 33 U.S.C. S 1251 et seq. (33 U.S.C. § 1321) or listed pursuant to the Clean Water Act (33 U.S.C. § 1317); (E) flammable
explosives; or (F) radioactive materials; and (v) all substances defined as “hazardous wastes” in Arizona Revised Statutes § 36-3501 (16). 

 

	14.2	Tenant shall comply with the rules and regulations of the Building which are attached hereto as Exhibit B. Landlord may, from time to time, change such rules and regulations for the safety, care, or
cleanliness of the Building and related facilities, provided that such changes are applicable to all tenants of the Building, will not unreasonably interfere with Tenant’s use of the Premises and are enforced by Landlord in a non-discriminatory
manner. Tenant shall be responsible for the compliance with such rules and regulations by any assignees claiming by, through, or under Tenant; any subtenants claiming by, through, or under Tenant; and any of their respective agents, contractors,
employees, and invitees. Notwithstanding anything contained in this Lease, if any rule or regulation is in conflict with any term, covenant or condition of this Lease, this Lease shall prevail. In addition, no such rule or regulation, or any
subsequent amendment thereto adopted by Landlord, shall in any way alter, reduce or adversely affect any of Tenant’s rights or enlarge Tenant’s obligations in any material respect under this Lease, unless the same is required by applicable
law. Following a written request from Tenant, Landlord shall use commercially reasonable efforts to enforce the rules and regulations against other tenants of the Building who are in violation of such rules and regulations. 

 

	ARTICLE 15.	RIGHTS RESERVED BY LANDLORD 

 In addition to all other rights, Landlord has the following rights,
exercisable without notice to Tenant and without effecting an eviction, constructive or actual, and without giving right to any claim for set off or abatement of rent: (a) to decorate and to make repairs, alterations, additions, changes, or
improvements in and about the Building during Building Hours (b) to approve the weight, size, and location of heavy objects in and about the Premises and the Building, and to require all such items to be moved into and out of the Building and
Premises in such manner as Landlord shall direct in writing; (c) to prohibit the placing of vending machines in or about the Premises without the prior written consent of Landlord; (d) to take all such reasonable measures for the security
of the Building and its occupants (provided that Landlord shall have no obligation to provide any such security unless required by law); and (e) to temporarily block off parking spaces for maintenance or construction purposes. 

 

	ARTICLE 16.	QUIET ENJOYMENT 

 Landlord agrees that, provided no uncured default by Tenant has occurred, Landlord will
do nothing that will prevent Tenant from quietly enjoying and occupying the Premises during the Lease Term. 
  

	ARTICLE 17.	MAINTENANCE AND REPAIR 

  

	17.1	Landlord shall, subject to reimbursement for Operating Costs by Tenant, keep and maintain in good repair and working order, subject to reasonable wear and tear: (1) structural elements of the Building;
(2) standard mechanical (including HVAC), electrical, plumbing and fire/life safety systems serving the Building generally, together with air filters provided by Landlord for the HVAC serving the Premises, if any and standard light fixtures
provided by Landlord to the Premises, if any; (3) Common Areas; (4) the roof (structure and membrane) of the Building; (5) exterior windows of the Building; and (6) elevators serving the Building, reasonable wear and tear
excepted. Tenant waives all rights to make repairs at the expense of Landlord. If Landlord would be required to perform any maintenance or make any repairs because of: (a) modifications to the roof, walls, foundation, and floor of the Building
from that set forth in Landlord’s plans and specifications which are required by Tenant’s design for improvements, alterations and additions; (b) installation of Tenant’s improvements, fixtures, or equipment; (c) a negligent
or wrongful act of Tenant or Tenant’s Permittees; or, (d) Tenant’s failure to perform any of Tenant’s obligations under this Lease, Landlord may perform the maintenance or repairs and Tenant shall pay Landlord the cost thereof.

  
 5 

	17.2	Tenant agrees to: (a) repair or replace all ceiling and wall finishes (including painting) and floor or window coverings which require repair or replacement during the Lease Term beyond ordinary wear and tear, at
Tenant’s sole cost; and (b), at Tenant’s sole cost, maintain and repair interior partitions; doors; electronic, phone and data cabling and related equipment that is installed by or for the benefit of Tenant and located in the Premises or
other portions of the Building or Project; supplemental air conditioning units, private showers and kitchens, including hot water heaters, plumbing, dishwashers, ice machines and similar facilities serving Tenant exclusively; phone rooms used
exclusively by Tenant; alterations performed by contractors retained by or on behalf of Tenant; and all of Tenant’s furnishings, trade fixtures, equipment and inventory. Notwithstanding anything to the contrary in this Lease, Tenant’s
obligation to repair or maintain the Premises shall not include the making of any capital repairs or improvements unless, and to the extent, required due to Tenant’s negligence or willful misconduct. 

 

	17.3	Notwithstanding anything in this Lease to the contrary, to the extent the terms and provisions of Article 22 conflict with, or are inconsistent with, the terms and provisions of this Article 17, the terms
and provisions of Article 22 shall control. Tenant shall take all reasonable precautions to insure that the Premises are not subjected to excessive wear and tear, i.e. chair pads should be utilized by Tenant to protect carpeting. Tenant shall
be responsible for touch-up painting in the Premises throughout the Lease Term. 

  

	ARTICLE 18.	UTILITIES AND JANITORIAL SERVICES 

 Landlord agrees to furnish to the Premises during normal Building
Hours as defined in Section 1.1 (the “Building Hours”), and subject to the Rules and Regulations, electricity suitable for general use of the Premises, heat and air conditioning required in Landlord’s judgment for
normal use and occupation of the Premises, and during such hours as determined by Landlord, janitorial services for the Premises and Common Areas. Landlord further agrees to furnish hot and cold water to those areas provided for general use of all
tenants in the Building. Landlord will use diligent efforts to provide continuous elevator service for the Building. If Tenant shall require electric current, water, heating, cooling, or air which will result in excess consumption of such utilities
or services, Tenant shall first obtain the written consent of Landlord to the use thereof. If, in Landlord’s reasonable discretion, Tenant consumes any utilities or services in excess of the normal consumption of such utilities and services for
general office use, Tenant agrees to pay Landlord for the cost of such excess consumption of utilities or services, upon receipt of a statement of such costs from Landlord, at the same time as payment of the Minimum Monthly Rent is made. Landlord
shall have the right to install separate electrical meters, at Landlord’s expense, to measure excess consumption or establish another basis for determining the amount of excess consumption of electrical current. Further, Landlord shall have the
right to install electronic HVAC over-time hour meters for Tenant’s convenience. These meters shall be used, in part, by Landlord to determine Tenant’s excess HVAC consumption for purposes of billing Tenant for such excess charges. If
Tenant desires HVAC at a time other than Building Hours: (i) Landlord shall supply such after-hours HVAC to Tenant at such hourly costs to Tenant as Landlord shall from time to time reasonably establish (and the current rate, as of the date of
this Lease, is $8.00 per hour per zone of after-hours’ usage, subject to reasonable adjustments established by Landlord from time to time); and (ii) Tenant shall pay such cost within ten (10) days after billing. Landlord shall not be
liable for damages nor shall rent or other charges abate in the event of any failure or interruption of any utility or service supplied to the Premises, Building or Project by a regulated utility or municipality, or any failure of a Building system
supplying any such service to the Premises (provided Landlord uses diligent efforts to repair or restore the same) and no such failure or interruption shall entitle Tenant to abate rent or terminate this Lease. Notwithstanding the foregoing, if
(x) any interruption or cessation of utilities results from Landlord’s breach of this Lease or the gross negligence or willful misconduct of Landlord, or its employees, agents and contractors, or (y) any such interruption is covered
by any rent loss insurance maintained by Landlord, then if the Premises are not usable by Tenant for the conduct of Tenant’s business as a result such interruption, and Tenant does not use the Premises, Minimum Monthly Rent and applicable
Operating Costs not actually incurred up to that point by Tenant shall be abated for the period that commences three (3) business days after the date Tenant gives to Landlord notice of such interruption until such utilities are restored. 

 

	ARTICLE 19.	ENTRY AND INSPECTION 

 Upon 24 hours prior notice to Tenant (except in emergencies and except during the
last 6 months of the Lease Term), Landlord shall have the right to enter into the Premises at reasonable times for the purpose of inspecting the Premises and reserves the right, during the last three months of the term of the Lease, to show the
Premises at reasonable times to prospective tenants. Landlord shall be permitted to take any action under this Article without causing any abatement of rent or liability to Tenant for any loss of occupation or quiet enjoyment of the Premises, nor
shall such action by Landlord be deemed an actual or constructive eviction. 
  

	ARTICLE 20.	ACCEPTANCE OF THE PREMISES/LIABILITY INSURANCE 

  

	20.1	All personal property and fixtures belonging to Tenant shall be placed and remain on the Premises at Tenant’s sole risk. Upon taking possession of the Premises and thereafter during the Lease Term, the Tenant
shall, at Tenant’s sole cost and expense, maintain insurance coverage with limits not less than the following: (a) Worker’s Compensation Insurance, minimum limit as defined by applicable laws; (b) Employer’s Liability
Insurance, minimum limit $1,000,000; (c) Commercial General Liability Insurance, Bodily Injury/Property, Damage Insurance (including the following coverages: Premises/Operations, Independent Contractors, Broad Form Contractual in support of the
indemnification obligations of Tenant under this Lease, and Bodily and Personal Injury Liability), minimum combined single limit $1,000,000; (d) Automobile Liability Insurance, minimum limit $1,000,000. All such policies shall include a waiver
of subrogation in favor of Landlord and shall name Landlord and such other party or parties as Landlord may require as additional insureds. Tenant’s insurance shall be primary, with any insurance maintained by Landlord to be considered excess.
Tenant’s insurance shall be maintained with an insurance company qualified to do business in the State of Arizona and having a current A.M. Best manual rating of at least A-X or better. Before entry into the Premises and before expiration of
any policy, evidence of these coverages represented by Certificates of Insurance issued by the insurance carrier must be furnished to Landlord. Certificates of Insurance should specify the additional insured status, the waiver of subrogation, and
that such insurance is primary, and any insurance by Landlord is excess. The Certificate of Insurance shall state that Landlord will be notified in writing thirty (30) days before cancellation, material change, or non-renewal of insurance.

  

	20.2	During the entire Lease Term, Landlord agrees to maintain public liability insurance in such forms and amounts as Landlord shall determine. 

 

	ARTICLE 21.	CASUALTY INSURANCE 

  

	21.1	Tenant shall maintain fire and extended coverage insurance (full replacement value) with a business interruption and extra expense endorsements, on personal property and trade fixtures owned or used by Tenant.

  

	21.2	Landlord shall maintain property insurance for the Building’s replacement value, less a commercially reasonable deductible if Landlord so chooses, including endorsements as determined by Landlord throughout
the Lease Term on the Building (excluding Tenant’s trade fixtures and personal property). At Landlord’s option, the policy of insurance may include a business interruption insurance endorsement for loss of rents. The cost of the insurance
obtained under this Section 21.2 shall be an Operating Cost under Article 5 of this Lease. 

  
 6 

	ARTICLE 22.	DAMAGE AND DESTRUCTION OF PREMISES 

  

	22.1	If the Premises or the Building are damaged by fire or other casualty (a “Casualty”), Landlord shall use good faith efforts to deliver to Tenant within thirty (30) days after such Casualty a good
faith estimate (the “Damage Notice”) of the time needed to repair the damage caused by such Casualty. 

  

	22.2	If a material portion of the Premises is damaged by Casualty such that Tenant is prevented from conducting its business in the Premises in a manner reasonably comparable to that conducted immediately before such
Casualty and Landlord estimates that the damage caused thereby cannot be repaired within one hundred eighty (180) days after the commencement of repairs (the “Repair Period”), then Tenant may terminate this Lease by delivering
written notice to Landlord of its election to terminate within thirty (30) days after the Damage Notice has been delivered to Tenant. 

  

	22.3	If a Casualty damages the Premises or a material portion of the Building and: (1) Landlord estimates that the damage to the Premises cannot be repaired within the Repair Period; (2) the damage to the
Premises exceeds fifty percent (50%) of the replacement cost thereof (excluding foundations and footings), as estimated by Landlord, and such damage occurs during the last two (2) years of the Term; (3) regardless of the extent of
damage to the Premises, Landlord makes a good faith determination that restoring the Building would be uneconomical; or (4) Landlord is required to pay any insurance proceeds arising out of the Casualty to a Landlord’s Mortgagee, then
Landlord may terminate this Lease by giving written notice of its election to terminate within thirty (30) days after the Damage Notice has been delivered to Tenant. 

 

	22.4	If neither party elects to terminate this Lease following a Casualty, then Landlord shall, within a reasonable time after such Casualty, begin to repair the Premises and shall proceed with reasonable diligence to
restore the Premises to substantially the same condition as they existed immediately before such Casualty; however, other than building standard leasehold improvements Landlord shall not be required to repair or replace any Alterations within the
Premises (which shall be promptly and with due diligence repaired and restored by Tenant at Tenant’s sole cost and expense) or any furniture, equipment, trade fixtures or personal property of Tenant or others in the Premises or the Building,
and Landlord’s obligation to repair or restore the Premises shall be limited to the extent of the insurance proceeds actually received by Landlord for the Casualty in question. If this Lease is terminated under the provisions of this Article
22, Landlord shall be entitled to the full proceeds of the insurance policies providing coverage for all alterations, improvements and betterments in the Premises (and, if Tenant has failed to maintain insurance on such items as required by this
Lease, Tenant shall pay Landlord an amount equal to the proceeds Landlord would have received had Tenant maintained insurance on such items as required by this Lease). 

 

	22.5	If the Premises are damaged by Casualty, Rent for the portion of the Premises rendered untenantable by the damage shall be abated on a reasonable basis from the date of damage until the completion of
Landlord’s repairs (or until the date of termination of this Lease by Landlord or Tenant as provided above, as the case may be), unless Tenant or a Tenant Permitee caused such damage, in which case, Tenant shall continue to pay Minimum Monthly
Rent and all other rent without abatement and Tenant shall be liable to Landlord for the cost and expense of the repair and restoration of the Premises or the Building caused thereby to the extent that costs and expense is not covered by insurance
proceeds. 

  

	22.6	Notwithstanding anything contained in this Lease: (a) if Tenant’s use of the Premises is substantially impaired for a period of more than 120 consecutive days after the date of a casualty, and provided
that neither Tenant nor its employees, customers, agents, contractors or representatives has caused or contributed to such casualty, then Tenant shall have the right to terminate this Lease by written notice to Landlord at any time thereafter until
Tenant’s use of the Premises is substantially restored, and (b) if this Lease is terminated by either Landlord or Tenant due to a casualty, then Tenant shall not be required to pay for any insurance deductibles as part of Landlord’s
insurance cost or otherwise. 

  

	ARTICLE 23.	EMINENT DOMAIN 

  

	23.1	If the entire Building or Premises are taken by right of eminent domain or conveyed in lieu thereof (a “Taking”), this Lease shall terminate as of the date of the Taking. 

 

	23.2	If any part of the Building becomes subject to a Taking and such Taking will prevent Tenant from conducting its business in the Premises in a manner reasonably comparable to that conducted immediately before such Taking
for a period of more than 120 days, then Tenant may terminate this Lease as of the date of such Taking by giving written notice to Landlord within thirty (30) days after the Taking, and Rent shall be apportioned as of the date of such Taking.
If Tenant does not terminate this Lease, then Rent shall be abated on a reasonable basis as to that portion of the Premises rendered untenantable by the Taking. 

  

	23.3	If any material portion, but less than all, of the Building becomes subject to a Taking, or if Landlord is required to pay any of the proceeds arising from a Taking to a Landlord’s Mortgagee, then Landlord may
terminate this Lease by delivering written notice thereof to Tenant within thirty (30) days after such Taking, and Rent shall be apportioned as of the date of such Taking. If Landlord does not so terminate this Lease, then this Lease will
continue, but if any portion of the Premises has been taken, Rent shall abate as provided in Section 22.5. 

  

	23.4	If any Taking occurs, then Landlord shall receive the entire award or other compensation for the Land, the Building, and other improvements taken; however, Tenant may separately pursue a claim (to the extent it
will not reduce Landlord’s award) against the condemnor for the value of Tenant’s personal property which Tenant is entitled to remove under this Lease, moving costs, loss of business, and other claims it may have. 

 

	ARTICLE 24.	ASSIGNMENT AND SUBLETTING 

 Tenant agrees not to assign, mortgage or pledge this Lease, and shall not
sublet the Premises without Landlord’s prior written consent, which shall not be unreasonably withheld. Without limitation, it is agreed that Landlord’s consent shall not be considered unreasonably withheld if: (1) the proposed
transferee’s financial condition does not meet the criteria Landlord uses to select Building tenants having similar leasehold obligations; (2) the proposed transferee’s use is not suitable for the Building considering the business of the
other tenants and the Building’s prestige, or would result in a violation of another tenant’s rights; (3) the proposed transferee is a governmental agency or occupant of the Project; (4) Tenant is in default after the expiration
of the notice and cure periods in this Lease; or (5) any portion of the Premises or Building would likely become subject to additional or different laws as a consequence of the proposed assignment or subletting. Tenant shall not be entitled to
receive any monetary damages based upon a claim that Landlord unreasonably withheld its consent to a proposed sublease or assignment and Tenant’s sole remedy shall be an action to enforce any provision through specific performance or
declaratory judgment. Any attempted sublease or assignment in violation of this Article shall, at Landlord’s option, be void. Consent by Landlord to one or more subleases or assignments shall not operate as a waiver of Landlord’s rights to
approve any subsequent subleases or assignments. Any assignment or subletting hereunder shall not release or discharge Tenant of or from any liability under this Lease, and Tenant shall continue to be fully liable thereunder. As part of its request
for 

  
 7 

 
Landlord’s consent to a sublease or assignment, Tenant shall provide Landlord with financial statements for the proposed transferee, a complete copy of the proposed sublease, assignment and
other contractual documents and such other information as Landlord may reasonably request. Landlord shall, by written notice to Tenant within fifteen (15) days of its receipt of the required information and documentation, consent to the
sublease or assignment by the execution of a consent agreement in a form reasonably designated by Landlord or reasonably refuse to consent to the sublease or assignment in writing. If Tenant shall assign or sublet the Lease or request the consent of
Landlord to any assignment or subletting or if Tenant shall request the consent of Landlord for any act Tenant proposes to do, then Tenant shall pay Landlord’s reasonable costs and expenses incurred in connection therewith, including reasonable
attorneys’, architects’, engineers’ or other consultants’ fees. Consent by Landlord to one assignment, subletting, occupation, or use by another person shall not be deemed to be consent to any subsequent assignment, subletting,
occupation, or use by another person. Tenant shall pay fifty percent (50%) of all rent and other consideration which Tenant receives as a result of a sublease or assignment that is excess of the Rent payable to Landlord for the portion of the
Premises and Lease Term covered by the sublease or assignment. Tenant shall pay Landlord for Landlord’s share of any excess within thirty (30) days after Tenant’s receipt of such excess consideration. Tenant may deduct from the excess
all reasonable and customary expenses directly incurred by Tenant attributable to the sublease or assignment (other than Landlord’s costs and expenses), including brokerage fees, reasonable concessions, legal fees and construction costs. If
Tenant is a corporation, an unincorporated association or a partnership, unless listed on a national stock exchange, the transfer, assignment or hypothecation of any stock or interest in such corporation, association or partnership in the aggregate
in excess of fifty percent (50%) shall be deemed an assignment of this Lease. Tenant agrees to immediately notify Landlord of any 10% or more change in its ownership. 

Notwithstanding anything contained in this Lease, Landlord and Tenant agree as follows: Tenant may assign this Lease or sublet the Premises, or any portion
thereof, upon prior written notice to Landlord, but without Landlord’s consent, to any entity which controls, is controlled by, or is under common control with Tenant; to any entity which results from a merger of, reorganization of, or
consolidation with Tenant; or to any entity which acquires substantially all of the stock or assets of Tenant, as a going concern, with respect to the business that is being conducted in the Premises (hereinafter each such transfer, a
“Permitted Transfer” and each transferee a “Permitted Transferee”), provided that Tenant and its assignee or subtenant, as the case may be, shall execute and deliver to Landlord such documents as Landlord may reasonably require,
including, without limitation, a lease assignment and assumption agreement, pursuant to which such assignee/subtenant shall assume all of the duties and obligations of Tenant under this Lease, and further provided that Tenant shall not be released
from any of its duties, obligations and liabilities under this Lease. In addition, a sale or transfer of all of the capital stock of Tenant shall be deemed a Permitted Transfer if (1) such sale or transfer occurs in connection with any bona
fide financing or capitalization for the benefit of Tenant, or (2) Tenant is or becomes a publicly traded corporation. Landlord shall have no right to terminate the Lease in connection with, and shall have no right to any sums or other economic
consideration resulting from any Permitted Transfer, so long as no default shall have occurred (after the giving of any required notice of default and the expiration of any applicable cure period). Additionally, any rights that are personal to
Tenant shall also accrue to any Permitted Transferee, subject to the terms and conditions of this Lease. 
  

	ARTICLE 25.	SALE OF PREMISES BY LANDLORD 

 In the event of any sale of the Building or the property upon which the
Building is located or any assignment of this Lease by Landlord (or a successor in title), the assignee or purchaser shall be deemed, without any further agreement between the parties, to have assumed and agreed to carry out any and all of the
covenants and obligations of Landlord under this Lease, and shall be substituted as Landlord for all purposes from and after the sale or assignment: and upon delivery of Tenant’s security deposit to the transferee, Landlord (or such successor)
shall automatically be entirely freed and relieved of all liability under any and all of Landlord’s covenants and obligations contained in this Lease or arising out of any act, occurrence, or omission occurring after such sale or assignment.

  

	ARTICLE 26.	SUBORDINATION/ATTORNMENT/MODIFICATION/ASSIGNMENT 

 Tenant’s interest under this Lease is subordinate
to all terms of and all liens and interests arising under any ground lease, deed of trust, or mortgage now or hereafter placed on the Landlord’s interest in the Premises, the Building, or the Project. Tenant consents to an assignment of
Landlord’s interest in this Lease to Landlord’s lender as required under such financing. If the Premises or the Building is sold as a result of a default under the mortgage, or pursuant to a transfer in lieu of foreclosure, Tenant shall,
at the mortgagee’s, purchaser’s or ground lessor’s sole election, attorn to the mortgagee or purchaser. This Article is self-operative. However, Tenant agrees to execute and deliver, if Landlord, any deed of trust holder, mortgagee,
or purchaser should so request, such further instruments necessary to subordinate this Lease to a lien of any mortgage or deed of trust, to acknowledge the consent to assignment and to affirm the attornment provisions set forth herein. 

 

	ARTICLE 27.	LANDLORD’S DEFAULT AND RIGHT TO CURE 

 Landlord shall not be in default unless Landlord fails to
perform obligations required of Landlord within a reasonable time, but in no event later than thirty (30) days after written notice by Tenant to Landlord and to the holder of any first mortgage or deed of trust covering the Premises whose name
and address shall have theretofore been furnished to Tenant in writing, specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s obligation is such that more than thirty
(30) days are required for performance then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently pursues the same to completion. 

 

	ARTICLE 28.	ESTOPPEL CERTIFICATES 

 Landlord and Tenant each agree at any time and from time to time upon written
request by the other, to execute, acknowledge, and deliver to the requesting party, within twenty (20) calendar days after demand, a statement in writing certifying (a) that this Lease is unmodified and in full force and effect (or if
there have been modifications, that the same is in full force and effect as modified and stating such modifications), (b) the dates to which the Minimum Monthly Rent and other rent and charges have been paid in advance, if any,
(c) Tenant’s acceptance and possession of the Premises, (d) the commencement of the Lease Term, (e) the rent provided under the Lease, (f) that to the knowledge of the certifying party, the other party is not in default
under this Lease (or if the other party is in default, the nature thereof), (g) that the certifying party claims no offsets against the rent, and (h) such other information as may be reasonably requested with respect to the provisions of
this Lease or the tenancy created by this Lease. The failure to deliver such statement within such time shall be conclusive (i) that this Lease is in full force and effect, without modification except as may be represented by the requesting
party, (ii) that there are no uncured defaults in the requesting party’s performance, and (iii) that not more than one month’s rent has been paid in advance. 

 

	ARTICLE 29.	TENANT’S DEFAULT AND LANDLORD’S REMEDIES 

  

	29.1	Tenant will be in default under the Lease if any of the following occurs, and same shall be deemed an “Event of Default”: 

  

	 	(a)	If Tenant fails to pay the Minimum Monthly Rent or make any other payment required by the Lease within three (3) working days after Landlord sends Tenant a written notice or demand for payment.

  
 8 

	 	(b)	If on two or more occasions in any twelve month period Landlord does not receive either Tenant’s regular monthly payment of Minimum Monthly Rent and other regularly recurring charges on or before the first Business
Day of the month or any other payment on or before the date it is due. “Business Day” shall mean Monday through Friday of each week, exclusive of holidays. 

 

	 	(c)	If Tenant assigns this Lease or mortgages its interest in this Lease or sublets any part of the Premises without first obtaining Landlord’s written consent, as required by Article 24.

  

	 	(d)	If Tenant abandons the Premises, or becomes bankrupt or insolvent, or makes any general assignment of all or a substantial part of its property for the benefit of creditors, or if a receiver is appointed to
operate Tenant’s business or to take possession of all or a substantial part of Tenant’s property. 

  

	 	(e)	If a lien attaches to the Lease or to Tenant’s interest in the Premises, and Tenant fails to post a bond or other security or to have the lien released within ten (10) days of its notification thereof, or if a
mortgagee institutes proceedings to foreclose its mortgage against Tenant’s leasehold interest or other property and Tenant fails to have the foreclosure proceedings dismissed within ten (10) calendar days after the entry of any judgment
or order declaring the mortgage to be valid and Tenant to be in default on the obligation secured thereby, or directing enforcement of the mortgage. 

  

	 	(f)	If Tenant fails to maintain any of the insurance as required by this Lease. 

  

	 	(g)	If Tenant breaches any other provision of this Lease and fails to cure the breach within thirty (30) days after Landlord sends it written notice of the breach, or if the breach cannot be cured within thirty
(30) days, then if Tenant does not proceed with reasonable diligence to cure the breach within such additional time as may be reasonably necessary under the circumstances, not to exceed sixty (60) days. 

 

	29.2	If Tenant is in default, then Landlord may take any one or more of the following actions: 

  

	 	(a)	Landlord may re-enter and take possession of all or any part of the Premises and remove Tenant and any person claiming under Tenant from the Premises, using reasonable force, if necessary, and without committing a
trespass or becoming liable for any loss or damage that may be occasioned thereby. Landlord may also change the locks to the Premises without notice at Tenant’s expense. Re-entry and possession of the Premises will not by themselves terminate
the Lease. 

  

	 	(b)	Landlord may remove any property, including fixtures, from the Premises and store the same at Tenant’s expense in a warehouse or any other location, or Landlord may lease the property on the Premises pending sale
or other disposition. If Landlord leaves the property on the Premises or stores it at another location owned or controlled by Landlord, then Landlord may charge Tenant a reasonable fee for storing and handling the property comparable to what
Landlord would have had to pay to a third party for such services. Landlord will not be liable under any circumstance to Tenant or to anyone else for any damage to the property. Landlord may proceed to sell Tenant’s property in accordance with
Arizona law. 

  

	 	(c)	Landlord may collect any rents or other payments that become due from any subtenant, concessionaire or licensee, and may in its own name or in Tenant’s name bring suit for such amounts, and settle any claims
therefore, without approving the terms of the sublease or Tenant’s agreement with the concessionaire or licensee and without prejudice to Landlord’s right to terminate the sublease or agreement without cause and remove the subtenant,
concessionaire or licensee from the Premises. 

  

	 	(d)	Landlord may appoint, or have appointed through appropriate court proceedings, a receiver to take possession of the Premises and operate Tenant’s business in accordance with the terms of the Lease, with full
power to exercise all rights and privileges Tenant has under the Lease, including the power to collect the income and pay the expenses of the business, or with such limited powers as Landlord or the court appointing the receiver may deem advisable.
The receiver will not be required to post any bond, and will be entitled to obtain insurance to protect itself against any liability from his errors and omissions or otherwise arising in the course of performing his duties. The fees and expenses of
the receiver, including the cost of any errors and omissions or liability insurance, will be charged to Tenant. 

  

	 	(e)	Subject to Landlord’s legal duty, if any, to mitigate its damages, Landlord may relet the Premises at whatever rent and on whatever terms and conditions it deems advisable. The term of any new lease may be shorter
or longer than the remaining term of this Lease. In reletting the Premises, Landlord may make any alterations or repairs to the Premises it feels necessary or desirable; may subdivide the Premises into more than one unit and lease each portion
separately; may sell Tenant’s improvements, fixtures and other property located on the Premises to the new tenant, or include such improvements, fixtures and property as part of the Premises without additional cost; may advertise the Premises
for sale or lease; may hire brokers or other agents; and, may do anything else it deems necessary or helpful in reletting the Premises. Tenant will be liable to Landlord for all costs and expenses of the reletting including but not limited to rental
concessions to the new tenant, broker’s commissions and tenant improvements, and will remain liable for the Minimum Monthly Rent and all other charges arising under the Lease, less any income received from the new tenant, unless the Lease is
terminated as set forth below. 

  

	 	(f)	Landlord may terminate the Lease at any time after Tenant defaults by sending a written notice to Tenant expressly stating that the Lease is being terminated. Termination will be effective on the date of the
notice or on any other date set forth in the notice. Until Landlord sends Tenant such a notice, the Lease will remain in full force and effect, and Tenant will remain liable for paying the Minimum Monthly Rent and other charges that come due under
the Lease and for performing all other terms and conditions of the Lease. No other action by Landlord, including repossession of the Premises, removing or selling Tenant’s separate property, reletting the Premises, or filing suit for possession
or for damages, will terminate the Lease or release Tenant from its continuing liability for complying with the terms and conditions. 

  

	 	(g)	 Landlord may recover from Tenant all costs and expenses Landlord incurs as a direct or indirect consequence of Tenant’s breach, including the
cost of storing and selling Tenant’s property, reletting the Premises, and bringing suit against Tenant for possession or 

  
 9 

	 	
damages. If Landlord made or paid for any improvements to the Premises, or granted Tenant any improvement allowance or credit against the Minimum Monthly Rent or other charges due hereunder for
Tenant’s improvements, then Landlord shall also be entitled to recover the unamortized portion of the cost of such improvements or the amount of such allowance or credit, determined by multiplying the total amount of such cost or allowance or
credit by a fraction, the denominator of which is the total number of months of the initial Lease Term and the numerator of which is the number of months of the Lease Term remaining at the time of Tenant’s default. Also, if the Lease provides
for any months for which no Minimum Monthly Rent or a reduced Minimum Monthly Rent is payable, or for any other rent concession to Tenant, then, upon default, Tenant shall become liable for the full amount of the Minimum Monthly Rent (or other rent
concession), plus applicable taxes, for such months, and Landlord shall be entitled to recover as additional rent the amount that would have been payable by Tenant for such months if the Minimum Monthly Rent provided for herein had been payable by
Tenant throughout the entire Lease Term. Unless Landlord terminates the Lease, Tenant will also remain liable for any difference between the Minimum Monthly Rent and other charges called for by the Lease and the rent and other charges collected by
Landlord from any new tenant. For any month in which Landlord collects less from a successor tenant than is payable under this Lease, Landlord may demand that Tenant immediately make up the difference, and Landlord may bring suit against Tenant if
Tenant fails to do so. If Landlord does terminate the Lease, then Tenant will no longer be liable on a continuing monthly basis for the Minimum Monthly Rent and other charges that would have become due under the Lease thereafter, but Tenant will
remain liable for all sums accrued under the Lease to the date of termination, as well as for all costs and expenses incurred by Landlord, and any other damages sustained by Landlord, as a consequence of Tenant’s breach. Also Landlord may
recover from Tenant the difference between the present value at the date of termination to the end of the Lease Term and the present value of the Minimum Monthly Rent and other charges Landlord could have obtained if Landlord had rented the Premises
for the same period at its fair rental value at the end of termination. The present value of the amounts referred to in the preceding sentence shall be computed using a discount rate equal to the prime rate charged by Wells Fargo Bank, Arizona (or
its successor) at the date of termination. 

  

	 	(h)	Landlord may sue Tenant for possession of the Premises, for damages for breach of the Lease, and for other appropriate relief, either in the same or in separate actions. Landlord may recover all costs and expenses it
incurs in any such suit, including reasonable attorneys’ fees. 

  

	 	(i)	Landlord may exercise any other right or remedy available at law or in equity for breach of contract, damages or other appropriate relief. The rights and remedies described herein are cumulative, and Landlord’s
exercise of any one right will not preclude the simultaneous exercise of any other right or remedy. 

  

	29.3	In addition to any statutory landlord’s lien now in effect or hereafter enacted, Tenant grants to Landlord, to secure performance of Tenant’s obligations hereunder, a security interest in all of Tenant’s
property situated in or upon, or used in connection with, the Premises or the Project, and all proceeds thereof (except merchandise sold in the ordinary course of business) (collectively, the “Collateral”), and the Collateral shall
not be removed from the Premises or the Project (unless promptly replaced by Collateral of the same or greater value) without the prior written consent of Landlord until all obligations of Tenant have been fully performed. Such personalty thus
encumbered includes specifically all trade and other fixtures for the purpose of this Section 29.3 and inventory, equipment, contract rights, accounts receivable and the proceeds thereof. Upon the occurrence of an Event of Default, Landlord
may, in addition to all other remedies, without notice or demand except as provided below, exercise the rights afforded to a secured party under the Uniform Commercial Code of the state in which the Premises are located (the “UCC”).
To the extent the UCC requires Landlord to give to Tenant notice of any act or event and such notice cannot be validly waived before a default occurs, then five (5) days’ prior written notice thereof shall be reasonable notice of the act
or event. In order to perfect such security interest, Landlord may file any financing statement or other instrument necessary at Tenant’s expense at the state and county Uniform Commercial Code filing offices. Tenant grants to Landlord a power
of attorney to execute and file any financing statement or other instrument necessary to perfect Landlord’s security interest under this Section 29.3, which power is coupled with an interest and is irrevocable during the Term. Landlord may
also file a copy of this Lease as a financing statement to perfect its security interest in the Collateral. Within ten (10) days following written request therefor, Tenant shall execute financing statements to be filed of record to perfect
Landlord’s security interest in the Collateral. The landlord’s lien shall survive the expiration or earlier termination of the Lease, until all obligations of Tenant have been fully performed. 

 

	ARTICLE 30.	TENANT’S RECOURSE 

 Anything in this Lease to the contrary notwithstanding, Tenant agrees to look
solely to the estate and property of Landlord in the Building and the Project, subject to prior rights of any ground lessor, mortgagee, or deed of trust of the Building and the Project or any part thereof, for the collection of any judgment
requiring the payment of money by Landlord in the event of any default by Landlord under this Lease. Tenant agrees that it is prohibited from using any other procedures for the satisfaction of Tenants’ remedies. Neither Landlord nor any of its
respective officers, directors, employees, heirs, successors, or assigns, shall have any personal liability of any kind or nature, directly or indirectly, under or in connection with this Lease. 

 

	ARTICLE 31.	HOLDING OVER 

 Subject to prior written consent by Landlord, if Tenant holds over after the Expiration
Date, or any extension thereof, Tenant shall be a tenant at sufferance, the Minimum Monthly Rent shall be increased to 125% of the then current lease rate at the Building or the Tenant’s lease rate at the time the Lease expired, whichever is
higher, plus any amounts due under Article 5, which shall be payable in advance on the first day of such holdover period and on the first day of each month thereafter. Tenant will be considered to be on a month-to-month basis during any
holdover period. 
  

	ARTICLE 32.	GENERAL PROVISIONS 

  

	32.1	This Lease is construed in accordance with the laws of the State of Arizona. 

  

	32.2	If Tenant consists of more than one person or entity, then the obligations of such entities or parties are joint and several. 

 

	32.3	If any term, condition, covenant, or provision of this Lease is held by a court of competent jurisdiction to be invalid, void, or unenforceable, the remainder of the terms, conditions, covenants, and provisions
hereof shall remain in full force and effect and shall in no way be affected, impaired, or invalidated. 

  
 10 

	32.4	The various headings and numbers herein and the grouping of the provisions of this Lease into separate articles and sections are for the purpose of convenience only and are not be considered a part hereof.

  

	32.5	Time is of the essence of this Lease. 

  

	32.6	Other than for Tenant’s obligations under this Lease that can be performed by the payment of money (e.g., payment of Rent and maintenance of insurance), whenever a period of time is herein prescribed for
action to be taken by either party hereto, such party shall not be liable or responsible for, and there shall be excluded from the computation of any such period of time, any delays due to strikes, riots, acts of God, shortages of labor or
materials, war (declared or undeclared), acts of terrorism, government laws, regulations, or restrictions, or any other cause of any kind whatsoever which are beyond the control of such party. 

 

	32.7	In the event either party initiates legal proceedings or retains an attorney to enforce any right or obligation under this Lease or to obtain relief for the breach of any covenant hereof, the party ultimately
prevailing in such proceedings or the non-defaulting party shall be entitled to recover all costs and reasonable attorneys’ fees. 

  

	32.8	This Lease, and any Exhibit or Addendum attached hereto, sets forth all the terms, conditions, covenants, provisions, promises, agreements, and undertakings, either oral or written, between the Landlord and
Tenant. No subsequent alteration, amendment, change, or addition to this Lease is binding upon Landlord or Tenant unless reduced to writing and signed by both parties. 

 

	32.9	Subject to Article 24, the covenants herein contained shall apply to and bind the heirs, successors, executors, personal representatives, legal representatives, administrators, and assigns of all the parties
hereto. 

  

	32.10	No term, condition, covenant, or provision of this Lease shall be waived except by written waiver of Landlord, and the forbearance or indulgence by Landlord in any regard whatsoever shall not constitute a waiver
of the term, condition, covenant, or provision to be performed by Tenant to which the same shall apply, and until complete performance by Tenant of such term, condition, covenant, or provision, Landlord shall be entitled to invoke any remedy
available under this Lease or by law despite such forbearance or indulgence. The waiver by Landlord of any breach or term, condition, covenant, or provision hereof shall apply to and be limited to the specific instance involved and shall not be
deemed to apply to any other instance or to any subsequent breach of the same or any other term, condition, covenant, or provision hereof. Acceptance of rent by Landlord during a period in which Tenant is in default in any respect other than payment
of rent shall not be deemed a waiver of the other default. Any payment made in arrears shall be credited to the oldest amount outstanding and no contrary application will waive this right. 

 

	32.11	The use of a singular term in this Lease shall include the plural and the use of the masculine, feminine, or neuter genders shall include all others. 

 

	32.12	Landlord’s submission of a copy of this Lease form to any person, including Tenant, shall not be deemed to be an offer to lease or the creation of a lease unless and until this Lease has been fully signed
and delivered by Landlord. 

  

	32.13	Every term, condition, covenant, and provision of this Lease, having been negotiated in detail and at arm’s length by both parties, shall be construed simply according to its fair meaning and not strictly
for or against Landlord or Tenant. 

  

	32.14	If the time for the performance of any obligation under this Lease expires on a Saturday, Sunday, or legal holiday, the time for performance shall be extended to the next succeeding day which is not a Saturday,
Sunday, or legal holiday. 

  

	32.15	If requested by Landlord, Tenant shall execute written documentation with signatures acknowledged by a notary public, to evidence when and if Landlord or Tenant has met certain obligations under this Lease.

  

	ARTICLE 33.	NOTICES 

 Wherever in this Lease it is required or permitted that notice or demand be given or served by
either party to or on the other, such notice or demand shall be in writing and shall be given or served and shall not be deemed to have been duly given or served unless (a) in writing; (b) either (1) delivered personally,
(2) deposited with the United States Postal Service, as registered or certified mail, return receipt requested, bearing adequate postage, or (3) sent by overnight express courier (including, without limitation, Federal Express, DHL
Worldwide Express, Airborne Express, United States Postal Service Express Mail) with a request that the addressee sign a receipt evidencing delivery; and (c) addressed to the party at its address in Section 1.1. Either party may
change such address by written notice to the other. Service of any notice or demand shall be deemed completed forty-eight (48) hours after deposit thereof, if deposited with the United States Postal Service, or upon receipt if delivered by
overnight courier or in person. 
 
  

	ARTICLE 34.	BROKER’S COMMISSIONS 

 Tenant represents and warrants that there are no claims for brokerage
commissions or finder’s fees in connection with this Lease (excepting commissions or fees to Grubb & Ellis/BRE Commercial, LLC, and Hackett Real Estate Solutions [Ian Hackett, Designated Broker], as may be approved or authorized in
writing by Landlord pursuant to a separate agreement between Landlord and such brokers). Tenant shall indemnify, defend and hold Landlord harmless for, from and against all costs, expenses, attorneys’ fees, liens and other liability for
commissions or other compensation claimed by any broker or agent claiming the same by, through or under Tenant. The foregoing indemnity shall survive the expiration or earlier termination of this Lease. 

 

	ARTICLE 35.	INDEMNIFICATION/WAIVER OF SUBROGATION 

  

	35.1	Except for claims arising solely from the Landlord’s gross negligence or willful misconduct or material breach of this Lease by Landlord, Tenant shall indemnify, defend, and hold Landlord and any lender of
Landlord harmless against all Claims (as defined below) and costs incurred by Landlord to the extent arising from: (a) any act or omission of Tenant or Tenant’s Permittees which results in personal injury, loss of life, or property damage
sustained in and about the Premises, the Building, or the Project; (b) attachment or discharge of a lien upon the Premises, the Building, or the Project; (c) Tenant’s and Tenant’s Permittees’ use, generation, storage,
release, threatened release, discharge, disposal, or presence of Hazardous Materials on, under, or about the Premises, the Building, or the Project; (d) any default of Tenant under this Lease; and (e) any claims for brokerage commissions
or finder’s fees in connection with this Lease (excepting commissions or fees authorized in writing by Landlord). As used in this Lease, “Claims” means any claim, suit, proceeding, action, cause of action, responsibility,
demand, judgment and execution, and attorneys’ fees and costs related thereto or arising therefrom. The foregoing indemnity shall survive the expiration or earlier termination of this Lease. 

  
 11 

	35.2	Tenant hereby releases, discharges, and waives any right of recovery from Landlord and Landlord’s agents, directors, officers, and employees, and Landlord hereby releases, discharges, and waives any right of
recovery from Tenant and Tenant’s Permittees, from all Claims, liabilities, losses, damages, expenses, or attorneys’ fees and costs incurred arising from or caused by any peril required to be covered by insurance obtained by Landlord or
Tenant under this Lease, or covered by insurance in connection with (a) property on the Premises, the Building, or the Project; (b) activities conducted on the Premises, the Building, or the Project; and (c) obligations to indemnify
under this Lease, regardless of the cause of the damage or loss, except to the extent arising from Landlord’s gross negligence or willful misconduct or material breach of this Lease. Landlord and Tenant shall give their respective insurance
carriers notice of these waivers and shall secure an endorsement from each carrier to the effect that the waivers given in this Article 35 shall not adversely affect or impair the policies of insurance or prejudice the right of the named insured on
the policy to recover thereunder. These waivers apply only to the extent such Claims, liabilities, losses, damages, expenses, or attorneys’ fees are covered by insurance required pursuant to this Lease. 

 

	35.3	Notwithstanding anything in this Lease to the contrary, but subject to Landlord’s reasonable duty to attempt to enforce the rules and regulations, Landlord shall not be responsible or liable to Tenant for
any Claims for loss or damage caused by the acts or omissions of any persons occupying any space elsewhere in the Building. 

  

	ARTICLE 36.	WAIVER OF TRIAL BY JURY 

 Landlord and Tenant waive any right to a trial by jury in any action or
proceeding based upon, or related to, the subject matter of this Lease or the use and occupancy of the Premises. This Waiver is knowingly, intentionally and voluntarily made by Tenant, and Tenant acknowledges that neither Landlord or any person
acting on behalf of Landlord has made any representations of fact to induce this Waiver of Trial by Jury or in any way to modify or nullify its effect. Tenant further acknowledges that it has been represented (or has had the opportunity to be
represented) in the signing of this Lease and in the making of this Waiver by independent legal counsel, selected of its own free will, and that Tenant has had the opportunity to discuss this Waiver with counsel. Tenant further acknowledges that it
has read and understands the meaning and ramifications of this Waiver provision, as evidenced by its signature below. 
  

	ARTICLE 37.	COMMERCIAL MOISTURE ADDENDUM 

 Landlord and Tenant hereby incorporate into the terms of this Lease the
provisions, covenants and agreements set forth in the Commercial Moisture Addendum attached hereto as Exhibit “F” and by this reference made a part hereof, and Landlord and Tenant agree to be bound by the terms, conditions,
provisions and agreements set forth in the Commercial Moisture Addendum. Furthermore, Tenant agrees to execute and deliver to Landlord Exhibit F attached hereto simultaneously with Tenant’s execution of this Lease. 

IN WITNESS WHEREOF, the parties have duly executed this Lease as of the day and year first above written. 

 

									
	LANDLORD	 		 	TENANT
			
	GAINEY CENTER II LLC, a Delaware limited liability company	 		 	LCSI HOLDING, INC., a Delaware corporation
					
	By:	 	 /s/ Terrell W. Boiko
	 		 	By:	 	 /s/ Wayne G. Monie

		 	Terrell W. Boiko	 		 		 	
					
	Its:	 	 Vice President
	 		 	Its:	 	 COO

					
	Date:	 	  
	 		 	Date:	 	 June 12, 2007

					
	By:	 	  
	 		 	By:	 	  

					
	Its:	 	  
	 		 	Its:	 	  

					
	Date:	 	  
	 		 	Date:	 	  

  
 12 

 EXHIBIT “A” 

PREMISES 

  
 A-1 

 

 

 EXHIBIT “B” 

RULES AND REGULATIONS 
  

	1.	Tenant will refer all contractors, contractor’s representatives and installation technicians rendering any service to Tenant, to Landlord for Landlord’s supervision, approval and control before performance of
any contractual service. This provision shall apply to all work performed in the Building including installations of telephones, telegraph equipment, electrical devices and attachments, and installations of any nature affecting doors, walls,
woodwork, trim, windows, ceilings, equipment or any other physical portion of Building. 

  

	2.	No additional locks or bolts of any kind shall be placed upon any of the doors or windows by any Tenant nor shall any changes be made in existing locks or the mechanism thereof without consulting the Landlord.

  

	3.	Movement in or out of the Building of furniture or office equipment, or dispatch or receipt by Tenant of any merchandise or materials which require use of stairways, elevators or movement through Building entrance or
lobby shall be restricted to hours reasonably designated by Landlord. All such movement shall be under supervision of Landlord and in the manner agreed between Tenant and Landlord by pre-arrangement before performance. Such pre-arrangement initiated
by Tenant will include determination by Landlord and subject to its decision and control, as to the concerns which may prohibit any article, equipment or any other item from being brought into the Building. Tenant is to assume all risk as to damage
to articles moved and injury to persons or public engaged or not engaged in such movement, including equipment, property, and personnel or Landlord if damaged or injured as a result of acts in connection with carrying out this service for Tenant
from time of entering property to completion of work; and Landlord shall not be liable for acts of any person engaged in, or any damage or loss to any of said property or persons resulting from, any act in connection with such service performed for
Tenant. Any hand trucks, carryalls or similar appliances used for the delivery or receipt of merchandise or equipment shall be equipped with rubber tires, side guards and such other safeguards as the Building shall reasonably require.

  

	4.	No signs, advertisements or notices shall be painted or affixed on or to any windows or doors, or other parts of the Building, except of such color, size and style and in such places, as shall be first reasonably
approved in writing by Landlord. No nails, hooks or screws shall be driven or inserted in any part of the Building, except by the Building maintenance personnel, nor shall any part be defaced by Tenant. Building standard suite entrance signs to
Premises shall be placed thereon by a contractor designated by Landlord at Landlord’s expense. 

  

	5.	Tenant shall not place, install or operate on the Premises or in part of the Building, any engine, refrigerating (other than a home-type kitchen refrigerator), heating or air conditioning apparatus, stove or machinery,
or conduct mechanical operations or cook thereon (other than in a home-type microwave oven) or therein, or place in or about the Premises any explosives, gasoline, kerosene, oil, acids, caustics or any other inflammable, explosives, hazardous or
odorous material without the prior written consent of Landlord. No portion of the Premises shall at any time be used for cooking, sleeping or lodging quarters. No Tenant shall cause or permit any unusual or objectionable odors to be produced upon or
permeate from the Premises. 

  

	6.	Landlord will not be responsible for lost or stolen personal property, equipment, money or jewelry from the Building, the Premises, or any other area on or about the Project, regardless of whether such loss occurs when
these areas were locked against entry or not. 

  

	7.	No birds or animals shall be brought into or kept in or about the Building. 

  

	8.	Employees of Landlord shall not receive or carry messages for or to Tenant or other person, nor contract with or render free or paid services to Tenant or Tenant’s agents, employees, or invitees. 

 

	9.	Landlord will not permit entrance to Tenant’s offices by use of pass keys controlled by Landlord to any person at any time without written permission by Tenant, except employees, contractors, or service personnel
directly supervised by Landlord. 

  

	10.	The entries, passages, doors, elevators and elevator doors (if provided), hallways or stairways shall not be blocked or obstructed; no rubbish, litter, trash, or material of any nature shall be placed, emptied or thrown
into these areas, and such areas shall not be used at any time except for ingress or egress by Tenant, Tenant’s agents, employees or invitees to or from the Premises. 

 

	11.	Plumbing fixtures and appliances shall be used only for purposes for which constructed, and no sweepings, rubbish, rags or other unsuitable material shall be thrown or placed therein. Damage resulting to any such
fixtures or appliances from misuse by Tenant, its employees, agents, visitors or licensees shall be paid by Tenant, and Landlord shall not in any case be responsible therefor. 

 

	12.	The Landlord desires to maintain the highest standards of environmental comfort and convenience for all Tenants. It will be appreciated if any undesirable conditions or lack of courtesy or attention are reported
directly to the management. Tenant shall give immediate notice to the Landlord in case of accidents in the Premises or in the Common Areas or of defects therein or in any fixtures or equipment, or of any known emergency in the Building.

  

	13.	No Tenant shall make, or permit to be made, any unseemly or disturbing noises, interfere with occupants of this or neighboring buildings or premises, or those having business with them, whether by the use of any
device, musical instrument, radio, unmusical noise, whistling, singing, or in any other way interfering with others’ quiet enjoyment of the Building. 

  

	14.	Landlord shall have the right to make such other and further reasonable rules and regulations as in the reasonable judgment of Landlord may from time to time be needful for the safety, appearance, care and
cleanliness of the Building and for the preservation of good order therein. Landlord shall not be responsible to Tenant for any violations of rules and regulations by other Tenants, provided that Landlord shall make reasonable efforts to attempt to
enforce the rules and regulations relative to other tenants. 

  

	15.	All Tenants shall adhere to and obey all such parking control measures as may be placed into effect by the Landlord through the use of signs, identifying decals or other instructions. No bicycles or other
vehicles of any kind shall be brought into or kept on the Premises except in designated areas specified for parking of such vehicles. 

  

	16.	No safes or other objects, larger or heavier than the Building is limited to carry, shall be brought into or installed on the Premises. The Landlord shall have the power to prescribe the weight and position of
such safes or other objects which shall, if considered necessary by the Landlord, be required to be supported by such additional materials placed on the floor as the Landlord may direct, and at the expense of the Tenant. 

 

	17.	Landlord shall have no obligation to repair, re-stretch, or replace carpeting, but will spot-clean and sweep carpeting as part of any janitorial services required to be furnished by Landlord under the Lease.

  

	18.	Names to be replaced on or removed from directories should be furnished to the manager in writing on Tenant’s letterhead. All replacement directory strips will be at the expense of the Tenant Landlord will
determine size and uniformity of strips. 

  

	19.	All Tenants shall see that doors of their premises are closed and securely locked before leaving the Building and must observe strict care not to leave such doors open and exposed to the weather or other
elements. Tenant shall exercise extraordinary care and caution that all water faucets or water apparatus are entirely shut off before the Tenant or the Tenant’s employees leave the Building, and that all electricity, gas and air conditioning
shall likewise be carefully shut off, so as to prevent waste or damage, where controlled by Tenant. 

  
 B-1 

	20.	Janitorial services shall be provided five days per week in and about the Premises, and in no case shall such services be provided for Saturdays, Sundays and holidays (legal). Tenants shall not cause unnecessary
labor by reason of carelessness or indifference in the preservation of good order and cleanliness. The work of the janitor or cleaning personnel shall not be hindered by Tenant after 5:30 p.m., and such work may be done at any time when the offices
are vacant. The windows, doors and fixtures may be cleaned at any time without interruption of purpose for which the Premises are let. Tenant shall provide adequate waste and rubbish receptacles, cabinets, bookcases, map cases, etc. necessary to
prevent unreasonable hardship to Landlord in discharging its obligation regarding cleaning service. Boxes should be broken down to fit into containers. 

  

	21.	Canvassing, soliciting and peddling in the Building are prohibited. All Tenants shall cooperate to prevent the same. 

  

	22.	All nail holes are to be patched and repaired in Tenant’s suite by Tenant upon vacating Premises. 

  

	23.	All holiday decorations and other temporary or special decorations must be flame-retardant. No live Christmas trees or candles are to be used throughout the Building. No decorations should be hung on the exterior
windows or on exterior suite doors. 

  

	24.	There shall be no smoking permitted in the Building. 

  
 B-2 

 EXHIBIT “C” 

PARKING RULES AND REGULATIONS 
 The
parking rules & regulations are designed to assure our tenants and visitors safe use and enjoyment of the facilities. Please remove or hide any personal items of value from plain sight to avoid temptation leading to vandalism of vehicles.
Please exercise added caution when using parking lot at night. Please keep vehicle locked at all times. Please report violations of these rules to the Landlord immediately. Please report any lights out or other possibly dangerous situations to the
Landlord as soon as possible. Please also note that the aggregate number of parking spaces in the Project for all tenants and visitors has been based upon four (4) spaces for every one thousand (1,000) net rentable square feet of space in
the buildings within the Project. 
 Types of Parking 

Subterranean Parking 
 All spaces in the subterranean
parking structure are reserved and assigned. 
 Surface - Covered 

All surface-covered spaces are reserved and assigned to tenants. These spaces are available for lease only. Parking spaces will be leased on a 90-day prepaid
basis. (Contact Landlord’s property manager for information). 
 Visitor Parking 

Visitor parking is for clients and visitors to the building. In some cases, a time limit will be posted. Tenants and employees should not use these spaces.

 Handicap Parking 
 Only vehicles displaying handicap
plates or official handicap placards may park in the spaces designated as handicap parking. 
 Surface – Uncovered 

All surface uncovered parking spaces, not marked handicap or reserved, are available for use by tenants and employees. 

Hours For Parking 
 24 hours per day, 7
days per week, subject to periodic maintenance and repairs, applicable law and events, circumstances and conditions beyond Landlord’s reasonable control. 

Restrictions 
  

	•	 	Damage caused by vehicles is the responsibility of vehicle owner. 

  

	•	 	Landlord is not responsible for theft or damage to any vehicle. 

  

	•	 	Landlord is not responsible for water damage from leaks in the garage or any surface parking area. 

  

	•	 	Landlord is not responsible for damage due to height limitations of garage. 

  

	•	 	Vehicles not to exceed 2 miles per hour speed limit in the garage. 

  

	•	 	Vehicles that leak excessive fluids will be required to protect parking surface. 

  

	•	 	Mechanical repairs to vehicles are not permitted on property. 

  

	•	 	Large or oversize vehicles such as motor homes, boats or trailers are not permitted. 

  

	•	 	No parking in fire lanes, loading zones or any other areas not designated as a parking space. 

  

	•	 	Landlord, at Landlord’s sole discretion, may add or modify the parking rules. 

  

	•	 	Landlord reserves the right to relocate the location of reserved spaces from time to time. 

  

	•	 	Rental for reserved spaces shall be paid to Landlord by Tenant along with, and on the same due date as, the Minimum Monthly Rent. 

Violations of rules & regulations may result in towing from the Project. Towing from the Project can only be ordered by Landlord or Landlord’s
property manager. Charges for towing are to be paid by vehicle owner. 

  
 C-1 

 EXHIBIT “D” 

TENANT IMPROVEMENTS 

1. Acceptance of Premises. Except as otherwise specifically provided in this Exhibit D, Tenant accepts the Premises in their
“AS-IS” condition on the date that this Lease is entered into. 
 2. Landlord’s Obligations. Landlord shall provide
Tenant with Building standard directory and suite signage and Landlord shall construct the tenant improvements shown on the Plans and Drawings attached hereto as Exhibit D-1, which are approved by Landlord and Tenant (the “Work”) using
Building standard materials. 
 3. Definitions. As used herein, “Substantial Completion,” “Substantially
Completed,” and any derivations thereof mean the Work in the Premises has been performed in substantial accordance with the Plans and Drawings, as reasonably determined by Landlord (other than any details of construction, mechanical
adjustment or other similar matter, the noncompletion of which does not materially interfere with Tenant’s use or occupancy of the Premises). 

4. Walk-Through; Punchlist. When Landlord considers the Work in the Premises to be Substantially Completed, Landlord will notify Tenant
and within three (3) Business Days thereafter, Landlord’s representative and Tenant’s representative shall conduct a walk-through of the Premises and identify any necessary touch-up work, repairs and minor completion items that are
necessary for final completion of the Work. Neither Landlord’s representative nor Tenant’s representative shall unreasonably withhold his or her agreement on punchlist items. Landlord shall use reasonable efforts to cause the contractor
performing the Work to complete all punchlist items within thirty (30) days after agreement thereon; however, Landlord shall not be obligated to engage overtime labor in order to complete such items. 

Signage: Tenant shall have the right to erect and maintain (at Tenant’s sole cost and expense) fascia signage, subject to prior
written approval of the City of Scottsdale and prior written approval of Landlord, which Landlord shall not unreasonably withhold, delay or condition. All work to be performed by Tenant shall be governed by the terms of the Lease, including, without
limitation, Articles 11 and 13. All of Tenant’s signage shall be maintained by Tenant in a safe and clean condition and in good repair. 

Attach Exhibit D-1 

(Attach Approved Plans and Drawings—which include Space Plan PP-1 dated May 16, 2007) 

  
 D-1 

 

 

 EXHIBIT “E” 

CONFIRMATION OF COMMENCEMENT DATE 

            , 200   

 

			
	  
	 	
	  
	 	
	  
	 	
	  
	 	

  

	 	Re:	Lease Agreement (the “Lease”) dated             , 200  , between
                    , a                     
(“Landlord”), and                     , a
                     (“Tenant”). Capitalized terms used herein but not defined shall be given the meanings assigned to them in the Lease.

 Ladies and Gentlemen: 

Landlord and Tenant agree as follows: 

1. Condition of Premises. Tenant has accepted possession of the Premises pursuant to the Lease. Any improvements required by the
terms of the Lease to be made by Landlord have been completed to the full and complete satisfaction of Tenant in all respects except for the punchlist items described on Exhibit A hereto (the “Punchlist Items”), and
except for such Punchlist Items, Landlord has fulfilled all of its duties under the Lease with respect to such initial tenant improvements. Furthermore, Tenant acknowledges that the Premises are suitable for the Permitted Use. 

2. Commencement Date. The Commencement Date of the Lease is
            , 200   
 3. Expiration Date. The Term is
scheduled to expire on the last day of the      full calendar month of the Term, which date is             , 200  . 

4. Contact Person. Tenant’s contact person in the Premises is: 

 

							
		 	  
	 	
		 	  
	 	
		 	  
	 	
		 	Attention:	 	  
	 	
		 	Telephone:	 	  
	 	
		 	Telecopy:	 	  
	 	

 5. Ratification. Tenant hereby ratifies and confirms its obligations under the Lease, and
represents and warrants to Landlord that it has no defenses thereto. Additionally, Tenant farther confirms and ratifies that, as of the date hereof, (a) the Lease is and remains in good standing and in full force and effect, and (b) Tenant
has no claims, counterclaims, set-offs or defenses against Landlord arising out of the Lease or in any way relating thereto or arising out of any other transaction between Landlord and Tenant. 

6. Binding Effect; Governing Law. Except as modified hereby, the Lease shall remain in fall effect and this letter shall be
binding upon Landlord and Tenant and their respective successors and assigns. If any inconsistency exists or arises between the terms of this letter and the terms of the Lease, the terms of this letter shall prevail. This letter shall be governed by
the laws of the state in which the Premises are located. 
 Please indicate your agreement to the above matters by signing this letter in
the space indicated below and returning an executed original to us. 
  

									
	Agreed and accepted:	 		 	Sincerely,
			
	[TENANT’S SIGNATURE BLOCK],	 		 	
	a	 	  
	 		 	                     a
                    
					
	By:	 	  
	 		 	By:	 	  

	Name:	 	  
	 		 	Name:	 	  

	Title:	 	  
	 		 	Title:	 	  

  
 E-1 

 EXHIBIT A 

PUNCHLIST ITEMS 
 Please insert any punchlist
items that remain to be performed by Landlord. If no items are listed below by Tenant, none shall be deemed to exist. 

  
 E-2 

 EXHIBIT F 

COMMERCIAL MOISTURE ADDENDUM 
 This
Addendum is entered into this 12th day of June, 2007, by and between GAINEY CENTER II LLC, a Delaware limited liability company (“Landlord”), and LCSI HOLDING, INC., a Delaware
corporation (“Tenant”). Reference is hereby made to that certain Office Lease Agreement dated of even date herewith (the “Lease”), between Landlord and Tenant. IN CONSIDERATION OF THEIR MUTUAL PROMISES, LANDLORD AND TENANT
AGREE AS FOLLOWS: 
 Tenant is leasing from Landlord Suite 280 in the office building located at 8501 North Scottsdale Road, Scottsdale,
Arizona 85258. 
 This Addendum shall be and is incorporated into the Lease. It is generally understood that mold spores are present
essentially everywhere and that mold can grow in any moist location. Emphasis is hereby placed on the prevention of moisture and on good housekeeping and ventilation practices. Tenant acknowledges the necessity of good housekeeping, proper
ventilation, and moisture control (especially in kitchens, janitor’s closets, bathrooms, break rooms and around outside walls) for mold prevention. In signing this Addendum, Tenant acknowledges having previously inspected the Premises and
hereby certifies that Tenant has not observed mold, mildew or moisture within the Premises. Tenant agrees to immediately notify Landlord if Tenant observes any mold or mildew and/or moist conditions (from any source, including leaks), and to allow
Landlord or its agent to enter the Premises to inspect, evaluate and make recommendations and/or take appropriate corrective action. Tenant hereby releases Landlord and its agents of and from any liability for any personal injury or damages to
property caused by or associated with moisture or the growth of or occurrence of mold or mildew on the Premises, except resulting from Landlord’s gross negligence or willful misconduct. 

 

					
	         	 	TENANT:
		
		 	LCSI HOLDING, INC., a Delaware corporation
			
		 	By:	 	 /s/ Wayne G. Monie

		 	Name:	 	 WAYNE G. MONIE

		 	Title:	 	 COO

  
 E-3 

 Commercial Moisture and Mold Prevention Guidelines 

Exercising proper ventilation and moisture control measures will help maintain your comfort and prevent mold growth in the Premises. Tenant agrees to adopt
and implement the following in order to avoid the development of moisture or mold growth: 
  

	 	1.	Report any maintenance problems involving water, moist conditions, or mold to the Landlord or its agent promptly and conduct its required activities in a manner which prevents unusual moisture conditions or mold growth.

  

	 	2.	Do not block or inhibit the flow of return or make-up air into the HVAC system. Maintain the Premises at a consistent temperature and humidity level in accordance with Landlord’s instructions. 

 

	 	3.	Maintain water in all drain traps at all times. 

  

					
	         	 	TENANT:
		
		 	LCSI HOLDING, INC., a Delaware corporation
			
		 	By:	 	 /s/ Wayne G. Monie

		 	Name:	 	 WAYNE G. MONIE

		 	Title:	 	 COO

  
 E-4 

 EXHIBIT “G” 

RENEWAL TERM PROVISIONS 
 If Tenant
is not in default of the terms and conditions of the Lease at the exercise of an option and at the commencement of any renewal term, and so long as Tenant has not been in default more than two (2) times during the Lease Term, and Tenant is
occupying the entire Premises at the time of such election, Tenant may extend the Lease Term for one (1) additional period of five (5) years, by delivering written notice of the exercise thereof to Landlord at least six (6) months
before the expiration of the Lease Term. 
 The Annual Minimum Rent and the Minimum Monthly Rent payable for each month during such extended term shall be
the prevailing rental rate (the “Prevailing Rental Rate”) at the commencement of such extended term, for the leasing of space in the Project, of equivalent quality, size, utility and location, with the length of the extended term
and the credit standing of Tenant to be taken into account. Furthermore, the Expense Stop applicable during such extension shall be determined by Landlord in its reasonable discretion based upon Landlord’s then current leasing practices. Within
thirty (30) days after receipt of Tenant’s written notice to extend, Landlord shall deliver to Tenant written notice of the Prevailing Rental Rate and shall advise Tenant of the required adjustment to Annual Minimum Rent and Minimum
Monthly Rent, and the other terms and conditions offered. Tenant shall, within ten (10) days after receipt of Landlord’s notice, notify Landlord in writing whether Tenant accepts or rejects Landlord’s determination of the Prevailing
Rental Rate. If Tenant timely notifies Landlord that Tenant accepts Landlord’s determination of the Prevailing Rental Rate, then, on or before the commencement date of the extended term, Landlord and Tenant shall execute an amendment to the
Lease extending the term on the same terms provided in the Lease, except as follows: 
 (a) Annual Minimum Rent and Minimum Monthly Rent
shall be adjusted to the Prevailing Rental Rate; 
 (b) Tenant shall have no further renewal option, unless expressly granted by Landlord in
writing; and 
 (c) Landlord shall lease to Tenant the Premises in their then-current condition, and Landlord shall not provide to Tenant
any allowances (e.g., moving allowance, construction allowance, improvements allowance and the like) or other tenant inducements. 
 If
Tenant rejects Landlord’s determination of the Prevailing Rental Rate, or fails to timely notify Landlord in writing that Tenant accepts or rejects Landlord’s determination of the Prevailing Rental Rate, time being of the essence with
respect thereto, Tenant’s rights to renew the Lease Term of this Lease shall terminate and Tenant shall have no right to renew or extend the Lease. 

Tenant’s rights under the Lease to which this Exhibit is attached to extend the Lease Term shall terminate if (1) the Lease or
Tenant’s right to possession of the Premises is terminated, (2) Tenant assigns any of its interest in the Lease or sublets any portion of the Premises (other than in connection with a Permitted Transfer), (3) Tenant fails to timely
exercise its renewal option under this Lease, time being of the essence with respect to Tenant’s exercise thereof, or (4) Landlord determines, in its sole but reasonable discretion, that Tenant’s financial condition or
creditworthiness has materially deteriorated since the date of the Lease. 

  
 E-5 

 FIRST AMENDMENT TO LEASE 

THIS FIRST AMENDMENT TO LEASE (this “Amendment”) is made as of April 14, 2008, by and between GAINEY CENTER
II, LLC, a Delaware limited liability company (“Landlord”), and LCSI HOLDING, INC., a Delaware corporation (“Tenant). 

RECITALS: 
 A. Landlord
and Tenant entered into that Office Lease Agreement dated June 12, 2007 (the “Lease”), relating to Suite 280 containing approximately 4,012 rentable square feet (the “Original Premises”), in the
building located at 8501 North Scottsdale Road, Scottsdale, Arizona 85253 (the “Building”) and commonly known as Gainey Center II (the “Project”). 

B. Tenant desires to lease additional space in the Project and to renew and extend the Lease, and Landlord has agreed to such expansion and
renewal and extension, upon the terms and conditions hereinafter described. 
 C. All capitalized terms used in this Amendment shall have
the meanings given to them in the Lease, as amended hereby, unless otherwise defined herein. 
 AGREEMENT: 

NOW, THEREFORE, for and in consideration of the foregoing recitals, Ten and No/100 Dollars ($10.00) in hand paid and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant hereby acknowledge and agree to the following: 

1. The Term of the Lease is hereby extended for a period of one (1) year beginning August 1, 2012, and terminating on July 31,
2013, unless sooner terminated pursuant to the provisions of the Lease (the “Renewal Term”). 
 2. In addition to
the Original Premises, Landlord shall lease to Tenant, and Tenant shall lease from Landlord, the space designated as Suite 270 on the second floor of the Building as shown on Exhibit A attached hereto and made a part hereof, which for all
purposes under this Lease, Landlord and Tenant agree contains 2,938 rentable square feet (the “Expansion Space”). From and after the Expansion Space Commencement Date (hereinafter defined), the term “Premises,” as
used in the Lease, shall be and include the Original Premises and the Expansion Space, which shall collectively consist of 6,950 rentable square feet. “Expansion Space Commencement Date” shall mean the date of substantial
completion of the leasehold improvements in the Expansion Space to be constructed by Landlord, which date the parties estimate to be May 1, 2008; provided, however, that the foregoing is an estimate only, and if Landlord is unable to tender
possession of the Expansion Space in such condition by the estimated Expansion Space Commencement Date, then: (a) the validity of this Amendment and the Lease shall not be affected or impaired thereby; (b) Landlord shall not be in default
hereunder or under the Lease or be liable for damages therefor; and (c) Tenant shall accept possession of the Expansion Space when Landlord tenders possession thereof to Tenant. The 

  
 1 

 
lease of the Expansion Space shall be for the same Term and other terms and conditions as the Lease, as modified by this Amendment. 

3. The Minimum Monthly Rent for the Premises shall be as follows: 
  

													
	 Months
	  	Annual
Minimum
Rent Rate
PSF
(not including
rent tax)	 	  	Monthly
Minimum Rent
Original
Premises
(not including
rent tax)	 	  	Monthly
Minimum Rent
Expansion Space
(not including
rent tax)	 
	 08/01/07 – 07/31/08
	  	$	33.00	  	  	$	11,033.00	  	  	 	 	** 
	 08/01/08 – 07/31/09
	  	$	34.00	  	  	$	11,367.33	  	  	**$	8,324.33	  
	 08/01/09 – 07/31/10
	  	$	35.00	  	  	$	11,701.67	  	  	$	8,569.17	  
	 08/01/10 – 07/31/11
	  	$	36.00	  	  	$	12,036.00	  	  	$	8,814.00	  
	 08/01/11 – 07/31/12
	  	$	37.00	  	  	$	12,370.33	  	  	$	9,058.83	  
	 08/01/12 – 07/31/13
	  	$	38.00	  	  	$	12,704.67	  	  	$	9,303.67	  

  

	**	For the six (6) month period following the Expansion Space Commencement Date, Tenant shall pay as Minimum Monthly Rent for the Expansion Space, the amount of $1,683.00. Following the expiration of such six-month
period, Tenant shall pay the amounts set forth in the chart above. 

 Tenant agrees to pay the Minimum Monthly Rent in equal
monthly installments at the place provided in the Lease on the first (1st) day of each month, in advance (subject to adjustment in accordance with the other provisions of the Lease), plus all applicable taxes thereon (excluding Landlord’s
income taxes), together with all other amounts due under the terms of the Lease. 
 4. The Expense Stop for the Expansion Space shall be the
actual per square foot (based on Rentable Square Footage) Operating Costs during the 2008 Operating Year, provided, however, that for purposes of establishing the Expense Stop for the Expansion Space, the Operating Costs shall be calculated as if
the Building were 95% occupied and 100% assessed for taxes. 
 5. Landlord shall at Landlord’s cost, provide the Expansion Space with
Building standard directory, directional and suite signage. Effective as of the date of full execution of this Amendment by Landlord and Tenant, Tenant shall have the non-exclusive right to place its name on the existing monument sign in front of
the Building (the “Signage”). The Signage shall be installed and maintained at Tenant’s sole cost and expense throughout the Term. The rights of Tenant under this paragraph: (i) are personal to Tenant and may not be
assigned to any other 

  
 2 

 
party, including without limitation any assignee or subtenant; (ii) are terminable by Landlord following any default not cured within applicable cure periods; and (iii) are terminable
by Landlord if Tenant reduces the size of the Premises, notwithstanding the consent of Landlord thereto. The location, size, material and design of the Signage shall be subject to the prior written approval of Landlord, and Tenant shall be
responsible for compliance with applicable laws. Upon the expiration or earlier termination of this Lease or the termination of Tenant’s sign rights as set forth herein, Tenant shall remove the Signage, at Tenant’s sole cost and expense,
and restore the monument sign to its condition immediately prior to the installation of the Signage. If Tenant fails to timely remove the Signage, then the Signage shall conclusively be deemed to have been abandoned by Tenant and may be
appropriated, sold, stored, destroyed, or otherwise disposed of by Landlord without further notice to Tenant or any other person and without obligation to account therefor. Tenant shall reimburse Landlord for all reasonable costs incurred by
Landlord in connection therewith within thirty (30) days of Landlord’s invoice. The provisions of this paragraph shall survive the expiration or earlier termination of the Lease. 

6. Tenant hereby acknowledges that except for the Leasehold Improvements (as defined below): (a) Tenant accepts the Original Premises,
Expansion Space and the Project as suitable for the purposes for which the same are leased; (b) that the renewal of the Lease is on an “As-Is” basis and Landlord has made no representations or warranties concerning the Original
Premises, the Expansion Space or the Project; and (c) Landlord has fully complied with Landlord’s obligations contained in the Lease. 

7. Landlord shall at Landlord’s cost provide building standard turnkey improvements to the Expansion Space (the “Leasehold
Improvements”), based upon a space plan mutually acceptable to Landlord and Tenant, at a cost not to exceed $4.00 per rentable square foot contained in the Expansion Space ($11,752.00) (the “Allowance”). If
Tenant desires additional improvements in the Expansion Space which exceed the Allowance, Tenant shall submit to Landlord for approval full definitive plans and specifications for such leasehold improvements to be constructed or installed in the
Expansion Space, the cost of which shall be payable by Tenant prior to construction of such additional improvements. 
 8. Upon execution of
this Amendment, Tenant shall deposit $9,000.00 with Landlord to be held as an additional Security Deposit upon the terms and conditions of the Lease. Following such deposit, the total Security Deposit held by Landlord shall be $21,000.00. 

9. Tenant shall have the right to use seven (7) additional parking spaces at the Building, as follows: (i) three (3) reserved
parking spaces in the garage serving the Building, at a rate of $65.00 per space per month (plus applicable rent tax); (ii) two (2) unreserved parking spaces in the garage serving the Building, at a rate of $45.00 per space per month (plus
applicable rent tax); and (iii) two (2) uncovered, unreserved parking spaces in the parking lot serving the Building, at a rate of $25.00 per space per month (plus applicable rent tax). 

10. Tenant warrants that it has had no dealing with any broker or agent in connection with the negotiation or execution of this Amendment
other than Grubb & Ellis/BRE (representing Landlord) and Hackett Real Estate Solutions (representing Tenant), and Tenant agrees to indemnify, defend and hold Landlord harmless from and against any claims by any

  
 3 

 
other broker, agent or other person claiming a commission or other form of compensation by virtue of having dealt with Tenant with regard to this leasing transaction. 

11. Except as modified by this Amendment, the Lease and all the terms, covenants, conditions and agreements thereof are hereby in all respects
ratified, confirmed and approved. Tenant hereby affirms that on the date hereof no breach or default by either party has occurred and that the Lease, and all of its terms, conditions, covenants, agreements and provisions, except as hereby modified,
are in full force and effect with no defenses or offsets thereto. 
 12. This Amendment contains the entire understanding between the
parties with respect to the matters contained herein. Except as modified by this Amendment, the Lease shall remain unchanged and shall continue in full force and effect. No representations, warranties, covenants or agreements have been made
concerning or affecting the subject matter of this Amendment, except as are contained herein and in the Lease. This Amendment may not be changed orally, but only by an agreement in writing signed by the party against whom enforcement of any waiver,
change or modification or discharge is sought. 
 13. This Amendment may be executed in any number of identical counterparts each of which
shall be deemed to be an original and all, when taken together, shall constitute one and the same instrument. A facsimile or similar transmission of a counterpart signed by a party hereto shall be regarded as signed by such party for purposes
hereof. 
 14. Submission of this instrument for examination and signature by Tenant does not constitute an offer to lease or a reservation
of or option for lease, and this instrument is not effective as a lease amendment or otherwise until executed and delivered by both Landlord and Tenant. 

[Signature page follows] 

  
 4 

 IN WITNESS WHEREOF, Landlord and Tenant have executed and delivered this Amendment as of the date
and year first above written. 
  

					
	LANDLORD:
	
	 GAINEY CENTER II, LLC,
 a
Delaware limited liability company

		
	By:	 	ICRE REIT HOLDINGS,
		 	a Maryland real estate investment trust,
		 	its sole member
			
		 	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

	
	TENANT:
	
	 LCSI HOLDING, INC.,
 a
Delaware corporation

		
	By:	 	 /s/ Wayne G. Monie

	Name:	 	 Wayne G. Monie

	Title:	 	 COO

  
 5 

 EXHIBIT A 

EXPANSION SPACE 
  

 
 

 

  
 6 

 SECOND AMENDMENT TO LEASE 

THIS SECOND AMENDMENT TO LEASE (this “Amendment”) is made as of January 31, 2012 (the “Effective
Date”), by and between GAINEY CENTER II, LLC, a Delaware limited liability company (“Landlord”). and LCSI HOLDING, INC., a Delaware corporation (“Tenant”). 

RECITALS: 
 A. Landlord
and Tenant entered into that Office Lease Agreement dated as of June 12, 2007, as amended by First Amendment to Lease dated as of April 14, 2008 (collectively, the “Lease”), relating to approximately 6,950 rentable
square feet designated as Suite 270 and Suite 280 (collectively, the “Premises”), in the building located at 8501 North Scottsdale Road, Scottsdale, Arizona 85253 (the “Building”), commonly known as
Gainey Center II. 
 B. Tenant desires to renew and extend the Lease, and Landlord has agreed to such renewal and extension, upon the terms
and conditions hereinafter described. 
 C. All capitalized terms used in this Amendment shall have the meanings given to them in the Lease,
as amended hereby, unless otherwise defined herein. 
 AGREEMENT: 

NOW, THEREFORE, for and in consideration of the foregoing recitals, Ten and No/100 Dollars ($10.00) in hand paid and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant hereby acknowledge and agree to the following: 

1. The Term of the Lease is hereby extended to expire on July 31, 2017 (the “Extended Term”). There are no
further renewal options under the Lease except as set forth in Section 7 below. 
 2. Commencing on February 1, 2012, the
Minimum Rent payable for the Premises shall be as set forth in the chart below. Tenant agrees to pay the Minimum Rent and all other amounts due under the terms of the Lease, in the manner set forth in the Lease. 

 

													
	 Months
	  	Rental Rate
PSF*	 	 	Annual
Minimum Rent*	 	 	Monthly
Minimum Rent*	 
	 02/01/12 – 07/31/12
	  	$	0.00	** 	 	$	0.00	** 	 	$	0.00	** 
	 08/01/12 – 07/31/13
	  	$	26.25	  	 	$	182,437.50	  	 	$	15,203.13	  
	 08/01/13 – 07/31/14
	  	$	26.75	  	 	$	185,912.50	  	 	$	15,492.71	  
	 08/01/14 – 07/31/15
	  	$	27.25	  	 	$	189,387.50	  	 	$	15,782.29	  
	 08/01/15 – 07/31/16
	  	$	27.75	  	 	$	192,862.50	  	 	$	16,071.88	  
	 08/01/16 – 07/31/17
	  	$	28.25	  	 	$	196,337.50	  	 	$	16,361.46	  

  
 GAINEY
CENTER II/TPI COMPOSITE 
 Page 1 

	*	Plus applicable rental taxes 

	**	Landlord agrees to abate: (i) Minimum Monthly Rent for the months of February through July, 2012 (the “Abatement Months”), in the aggregate amount of $91,218.78; and (ii) Parking
Charges (as defined below) during the Abatement Months, in the aggregate amount of $3,840.00 (such abatement being $95,058.78 in the aggregate and hereinafter collectively referred to as the “Abatement”). The abatement of
Minimum Monthly Rent and Parking Charges is conditioned upon Tenant’s full and timely performance of all of its obligations under the Lease. If at any time after the Effective Date a default by Tenant occurs which is not cured within applicable
notice and cure periods, then the Abatement shall automatically be deemed void effective as of the Effective Date, and Tenant shall promptly pay to Landlord, in addition to all other amounts due to Landlord under the Lease (and without waiver of
Landlord’s other rights and remedies for a monetary default under the Lease), the full amount of the Abatement received by Tenant (plus applicable Rent Tax) plus interest at the rate of ten percent (10%) per annum (or if less, the highest
rate permitted by applicable law). The Abatement shall automatically be deemed as terminated one (1) day prior to the filing of a petition by or against Tenant: (1) in any bankruptcy or other insolvency proceeding; (2) seeking any
relief under any state or federal debtor relief law; or (3) for the appointment of a liquidator or receiver for all or substantially all of Tenant’s property or for Tenant’s interest in the Lease. 

3. Tenant hereby acknowledges that: (a) Tenant accepts the Premises on an “As-Is” basis and Landlord shall not be obligated to
perform any tenant improvements or provide any allowances with respect to the Premises; and (b) Landlord has made no representations or warranties concerning the Premises or the Building. 

4. Effective as of February 1, 2012, the Expense Stop shall be based upon a 2012 Base Year, and accordingly Section 1.1
(j) of the Lease shall be modified to delete the phrase “2007 Operating Year’’ and replace it with “2012 Operating Year”. Operating Costs shall be calculated as if the Building were 95% occupied and 100% assessed
for Taxes. 
 5. During the Extended Term, the parking spaces available to Tenant and the parking charges for same (the “Parking
Charges’”) shall be the same as set forth in Section 1.1(1) of the Lease, provided that the Parking Charges shall be abated during the Abatement Months. 

6. Tenant shall have a one-time option to terminate this Lease effective as of April 30, 2015 (the “Early Termination
Date”), provided Tenant gives notice thereof to Landlord not less than one hundred eighty (180) days prior to the Early Termination Date and provided Tenant is not in default under the Lease at the time of the giving of such notice
nor on the Early Termination Date Additionally, Tenant’s right to terminate hereunder is conditioned upon: (a) the payment in full by Tenant of all Rent through and including the Early Termination Date; and (b) at the time Tenant
delivers notice to Landlord that it is exercising its termination right hereunder, Tenant shall pay Landlord the cash sum of Two Hundred and Five Thousand Dollars ($205,000.00) (the “Termination Payment”). If Tenant has
timely exercised its early termination right, then after Landlord’s receipt of the Termination Payment, and so long as Tenant has surrendered the Premises in the condition required under the Lease, neither party shall have any rights,
liabilities or obligations under the Lease for the period accruing after the Early Termination Date, except those which, by the provisions of the Lease, expressly survive the termination of the Lease. If Tenant fails to timely notify Landlord of
Tenant’s exercise of its early termination right or fails to timely pay the Termination Payment, time being of the essence, then Tenant’s early termination rights shall be null and void. 

  
 GAINEY
CENTER II/TPI COMPOSITE 
 Page 2 

 7. Provided Tenant is not then in default under the Lease, Tenant may renew the Lease for one
(1) additional period of five (5) years, by delivering written notice of the exercise thereof (the “Renewal Notice”) to Landlord not earlier than May 1, 2016, and not later than August 1, 2016. The Rent
payable for each month during such extended term shall be the prevailing rental rate at the commencement of such extended Term for renewals of space in the Building of equivalent quality, size, utility and location, with the length of the extended
term and the credit standing of Tenant to be taken into account (the “Prevailing Rental Rate”). Within thirty (30) days after receipt of Tenant’s Renewal Notice, Landlord shall deliver to Tenant written notice of
the Prevailing Rental Rate and shall advise Tenant of the required adjustment to Rent, if any, and the other terms and conditions offered. Tenant shall, within ten (10) days after receipt of Landlord’s notice, notify Landlord in writing
whether Tenant accepts or rejects Landlord’s determination of the Prevailing Rental Rate. If Tenant rejects Landlord’s determination of the Prevailing Rental Rate, or fails to timely notify Landlord in writing that Tenant accepts or
rejects Landlord’s determination of the Prevailing Rental Rate, time being of the essence with respect thereto, Tenant’s renewal rights shall terminate and Tenant shall have no right to renew the Lease. If Tenant timely notifies Landlord
that Tenant accepts Landlord’s determination of the Prevailing Rental Rate, then, on or before the commencement date of the extended term, Landlord and Tenant shall execute an amendment to the Lease evidencing such renewal. 

8. Tenant warrants that it has had no dealing with any broker or agent in connection with the this Amendment other than CBRE, Inc.
(representing Landlord) and CresaPartners (representing Tenant), and Tenant agrees to indemnify, defend and hold Landlord harmless from and against any claims by any other broker, agent or other person claiming a commission or other form of
compensation by virtue of having dealt with Tenant with regard to this leasing transaction. 
 9. Except as modified by this Amendment, the
Lease and all the terms, covenants, conditions and agreements thereof are hereby in all respects ratified, confirmed and approved. Tenant hereby affirms that on the date hereof no breach or default by either party has occurred and that the Lease,
and all of its terms, conditions, covenants, agreements and provisions, except as hereby modified, are in full force and effect with no defenses or offsets thereto. 

10. This Amendment contains the entire understanding between the parties with respect to the matters contained herein. Except as modified by
this Amendment, the Lease shall remain unchanged and shall continue in full force and effect. No representations, warranties, covenants or agreements have been made concerning or affecting the subject matter of this Amendment, except as are
contained herein and in the Lease. This Amendment may not be changed orally, but only by an agreement in writing signed by the party against whom enforcement of any waiver, change or modification or discharge is sought. 

11. Tenant hereby represents and warrants to Landlord that: (a) Tenant is in good standing under the laws of the State of its
organization; (b) Tenant has full corporate power and authority to enter into this Amendment and to perform all of Tenant’s obligations under the Lease, as amended by this Amendment; and (c) each person (and all of the persons if more
than one signs) signing this Amendment on behalf of Tenant is duly and validly authorized to do so. 
 12. This Amendment may be executed in
any number of identical counterparts each of which shall be deemed to be an original and ail, when taken together, shall constitute one and the same 

  
 GAINEY
CENTER II/TPI COMPOSITE 
 Page 3 

 
instrument. A facsimile or similar transmission of a counterpart signed by a party hereto shall be regarded as signed by such party for purposes hereof. 

[Signature page follows] 

  
 GAINEY
CENTER II/TPI COMPOSITE 
 Page 4 

 IN WITNESS WHEREOF, Landlord and Tenant have executed and delivered this Amendment as of the Effective Date. 

 

			
	LANDLORD:
	
	 GAINEY CENTER II, LLC,
 a
Delaware limited liability company

	By:	 	ICRE REIT HOLDINGS, a Maryland real estate investment trust,
		 	its sole member
		
	By:	 	 /s/ Cain Kirk

	Name:	 	 CAIN KIRK

	Title:	 	 VICE PRESIDENT

	
	TENANT:
	
	 LCSI HOLDING, INC.,
 a
Delaware corporation

		
	By:	 	 /s/ Robert B. Kane

	Name:	 	 Robert B. Kane

	Title:	 	 Corporate Director, Global Sourcing & Supply

  
 GAINEY
CENTER II/TPI COMPOSITE 
 Page 5 

 THIRD AMENDMENT TO LEASE 

THIS THIRD AMENDMENT TO LEASE (this “Amendment”) is made as of August 24, 2015 (the “Effective
Date”), by and between GAINEY CENTER II, LLC, a Delaware limited liability company (“Landlord”), and TPI COMPOSITES, INC., a Delaware corporation formerly known as LCSI Holding, Inc.
(“Tenant”). 
 RECITALS: 

A. Landlord and Tenant entered into that Office Lease Agreement dated as of June 12, 2007, as amended by First Amendment to Lease dated as of
April 14, 2008 (the “First Amendment”), and that Second Amendment to Lease dated as of January 31, 2012 (the “Second Amendment”) (collectively, the “Lease”), relating to
approximately 6,950 rentable square feet designated as Suite 270 and Suite 280 (collectively, the “Original Premises”), in the building located at 8501 North Scottsdale Road, Scottsdale, Arizona 85253 (the
“Building”), commonly known as Gainey Center II. 
 B. Tenant desires to vacate the Original Premises and relocate
to other premises in the Building and to renew and extend the Lease, and Landlord has agreed to such relocation and renewal and extension, upon the terms and conditions hereinafter described. 

C. All capitalized terms used in this Amendment shall have the meanings given to them in the Lease, as amended hereby, unless otherwise
defined herein. 
 AGREEMENT: 

NOW, THEREFORE, for and in consideration of the foregoing recitals, Ten and No/100 Dollars ($10.00) in hand paid and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant hereby acknowledge and agree to the following: 

1. New Space. From and after the New Space Commencement Date (as hereinafter defined): (a) the Premises leased by Tenant under the
Lease shall be Suite 100, shown on Exhibit A attached hereto and made a part hereof, which for all purposes under the Lease, Landlord and Tenant agree contains 13,285 rentable square feet (the “New Space”), and the
attached Exhibit A shall supersede Exhibit A to the Lease and Exhibit A to the First Amendment; (b) the defined term “Premises” in the Lease shall refer to the New Space; and (c) Landlord hereby leases to Tenant, and
Tenant hereby leases from Landlord, the New Space, and no further action or instrument shall be required by the parties hereto to so lease the New Space to Tenant. “New Space Commencement Date” or
“NSCD” shall mean the date of Substantial Completion (as defined in the Work Letter attached hereto as Exhibit B) of the Work (as defined in Exhibit B) in the New Space to be constructed by Tenant, but in no
event shall the New Space Commencement Date be later than January 15, 2016. Upon the New Space Commencement Date, the New Space shall be deemed to be the Premises under the Lease for all purposes thereof and the Original Premises shall be deemed
deleted from the Lease. Within fifteen (15) days following the New Space Commencement Date (the “Surrender Period”). Tenant shall deliver the Original Premises to Landlord in accordance with Article 12 of the Lease.
Tenant shall not be obligated to pay Rent on the Original Premises during the 15-day Surrender Period. Tenant shall remain liable for: (i) all of Tenant’s obligations under the 

  
 GAINEY
CENTER II/TPI COMPOSITES, INC. 
 Page 1 

 
Lease relating to the Original Premises (other than Rent) until such time as Tenant actually vacates and surrenders the Original Premises to Landlord in accordance with Article 12 of the
Lease (the “Surrender Date”); and (ii) Rent on the Original Premises from and after the expiration of the Surrender Period through the Surrender Date (at the rental rate that would otherwise be payable under the Lease if this
Amendment had not been executed (i.e., not at holdover rates)), if Tenant fails to vacate the Original Premises prior to the expiration of the Surrender Period. Notwithstanding the foregoing, any and all obligations of Tenant under the Lease that
survive the expiration and termination of the Lease shall survive the deletion of the Original Premises from the Lease with respect to such obligations accruing prior to the Surrender Date. 

2. Term. The Term of the Lease is hereby extended to expire on the last day of the ninetieth (90th) full calendar month following the New Space Commencement Date (the period from the NSCD through the expiration of the 90th full calendar month
being hereinafter referred to as the “New Space Term”). There are no further renewal options under the Lease except as set forth in Exhibit C attached hereto. 

3. Minimum Rent. Commencing on the New Space Commencement Date, the Minimum Rent payable for the Premises shall be as set forth in the
chart below. Tenant agrees to pay the Minimum Rent and all other amounts due under the terms of the Lease, in the manner set forth in the Lease. 
  

													
	 Months
	  	Rental Rate
PSF*	 	 	Annual
Minimum Rent*	 	 	Monthly
Minimum Rent*	 
	 1 - 6
	  	$	0.00	** 	 	$	0.00	** 	 	$	0.00	** 
	 7 - 54
	  	$	27.00	  	 	$	358,695.00	  	 	$	29,891.25	  
	 55 - 90
	  	$	28.00	  	 	$	371,980.00	  	 	$	30,998.33	  

  

	*	Plus applicable rental taxes 

	**	 Landlord agrees to abate: (i) Minimum Monthly Rent for the first six (6) months following the New Space
Commencement Date (the “Abatement Months”), in the aggregate amount of $179,347.50; and (ii) Parking Charges (as defined below) during the first twelve (12) months following the New Space Commencement Date, in the aggregate
amount of $14,160.00, for an aggregate abatement of $193,507.50 (collectively, the “Abatement”). The abatement of Minimum Monthly Rent and Parking Charges is conditioned upon Tenant’s full and timely performance of all
of its obligations under the Lease. If at any time after the Effective Date a monetary default by Tenant occurs which is not cured within applicable notice and cure periods, and such default continues for thirty (30) days following the expiration of
the applicable cure period, then the Abatement shall automatically be deemed void effective as of the Effective Date, and Tenant shall promptly pay to Landlord, in addition to all other amounts due to Landlord under the Lease (and without waiver of
Landlord’s other rights and remedies for a monetary default under the Lease), the unamortized amount of the Abatement received by Tenant (plus applicable Rent Tax) plus interest at the rate of ten percent (10%) per annum (or if less, the
highest rate permitted by applicable law) (using a ninety (90) month amortization period on a straight-line basis). The Abatement shall automatically be deemed as terminated one (1) day prior to the filing of a petition by or against Tenant: (1) in
any bankruptcy or other insolvency proceeding; (2) seeking any relief under any state 

  
 GAINEY
CENTER II/TPI COMPOSITES, INC. 
 Page 2 

	 	
or federal debtor relief law; or (3) for the appointment of a liquidator or receiver for all or substantially all of Tenant’s property or for Tenant’s interest in the Lease.

 4. “As-Is”. Tenant hereby acknowledges that except for Landlord’s payment of the Construction
Allowance and Additional Allowance if applicable (each as defined in Exhibit B): (a) Tenant accepts the New Space and the Building as suitable for the purposes for which the same are leased; (b) that the lease of the New Space is on an
“As-Is” basis and Landlord has made no representations or warranties concerning the New Space or the Building; and (c) Landlord has fully complied with Landlord’s obligations contained in the Lease. 

5. Expense Stop. Effective as of the New Space Commencement Date, the Expense Stop shall be based upon a 2016 Base Year, and
accordingly Section 1.1(j) of the Lease (and Section 4 of the Second Amendment) shall be modified to delete the phrase “2007 Operating Year” (and “2012 Operating Year”) and replace it with “2016 Operating
Year”. Operating Costs shall be calculated as if the Building were 95% occupied and 100% assessed for Taxes. Notwithstanding the foregoing, for purposes of calculating the amount of Operating Costs payable by Tenant, commencing in calendar year
2017, Operating Costs (with the exception of Uncontrollable Expenses (defined below)) shall not exceed for any calendar year during the New Space Term, the amount of Operating Costs for the preceding calendar year plus five percent (5%) (compounded
annually) (the “Cap”). Any increases in Operating Costs not recovered by Landlord due to the foregoing limitation shall be carried forward into all succeeding calendar years during the New Space Term (subject to the foregoing
limitation) until fully recouped by Landlord (provided that at the expiration of the New Space Term any amounts not carried forward due to the Cap shall not be recoverable from Tenant). The term “Uncontrollable Expenses”
means expenses relating to the cost of utilities, insurance, real estate taxes and other uncontrollable expenses (such as, but not limited to, increases in the minimum wage which may affect the cost of service contracts). 

6. Parking. During the New Space Term, Tenant shall lease at a minimum the following parking spaces in the parking structure adjacent
to the Building (the “Parking Garage”), at the market rates for such Parking Garage (the “Parking Charges”), plus applicable taxes: (i) eleven (11) covered, reserved parking spaces, in the locations
shown on Exhibit E attached hereto; (ii) eight (8) covered, unreserved parking spaces on the basement level; and (iii) four (4) rooftop spaces, in the locations shown on Exhibit E attached hereto (collectively, the “Elected
Spaces”). These Elected Spaces are in lieu of and not in addition to any parking spaces provided with respect to the Original Premises. The current market rates are as set forth below (plus applicable taxes): 

$75.00 per stall, per month for covered reserved parking spaces 

$55.00 per stall, per month for covered, unreserved parking spaces 

$35.00 per stall, per month for parking on the rooftop of the Parking Garage 

Parking charges for the above-referenced Elected Spaces for the twelve (12) month period following the New Space Commencement Date shall be
abated, as set forth in Section 3 above. 
 Subject to then-availability and payment of the respective Parking Charges (excluding any
abatement described above) and the terms hereof, Tenant may, at any time upon not less than thirty (30) days prior written notice to Landlord (provided that if Landlord does not have to cancel a month-to-month agreement with another party for such
space(s), then Tenant’s notice period shall be reduced to five (5) business days), elect to increase the number of Elected Spaces to an amount not to 

  
 GAINEY
CENTER II/TPI COMPOSITES, INC. 
 Page 3 

 
exceed the following amounts in the aggregate: (i) eight (8) covered, reserved parking spaces; (ii) eighteen (18) covered, unreserved parking spaces; and (iii) fourteen (14) rooftop spaces. 

7. Temporary Expansion Space. In order to accommodate Tenant’s immediate short term expansion needs for additional space prior to
the New Space Commencement Date and in consideration of Tenant executing this Amendment, Landlord hereby grants to Tenant a revocable, non-transferable and exclusive license (“License”) to use approximately 1,930 rentable
square feet designated as Suite 205 of the Building, shown on Exhibit A-1 attached hereto and made a part hereof (“License Area”) for the Permitted Use and storage purposes, upon the terms and conditions of the Lease
except as set forth in this Amendment. Tenant shall not be obligated to exercise its rights under such License, but if Tenant elects to exercise such rights, then Tenant shall provide written notice to Landlord of such exercise (the
“License Notice”) and the remainder of this paragraph shall be applicable: (a) the term of such License shall commence on the date designated in the License Notice and shall continue until the earlier of: (i) the date of
termination of the License by written notice from Tenant to Landlord; (ii) the Surrender Date; or (ii) the New Space Commencement Date (the “License Term”); and (b) Tenant shall pay on or before the first day of each calendar
month during the License Term $1,342.96 as reimbursement for operating expenses for the License Area (the “License Fee”) in connection with the License Area in lieu of any other fees, rent, or royalty charges for this License
or the use of the License Area. License Fees for any partial month shall be prorated based upon the number of days in such month. At no additional expense to Tenant, Landlord shall provide building standard utilities to the License Area during
Building hours. Tenant shall maintain the License Area in good order and repair during the License Term. Tenant shall make no alterations, improvements, or changes of any kind to the Licensed Area without first having obtained the written consent of
Landlord. At all times during the term of this License, Tenant shall, at its sole cost and expense, comply with all laws, ordinances, and regulations pertaining to Tenant’s use of the License Area. Upon the expiration of the License Term,
Licensee shall vacate and surrender the License Area to Landlord in the same condition and repair as exists as of the Effective Date, subject only to ordinary wear and tear, and Tenant shall repair any damage done to the License Area as a result of
such vacation. 
 8. Right of First Offer. Tenant shall have a one-time Right of First Offer on space contiguous to the New Space,
subject to and in accordance with Exhibit D attached hereto. 
 9. Landlord’s Lien. Landlord and Tenant each agree that
Section 29.3 of the Lease is hereby deleted in its entirety. 
 10. Signage. Tenant shall have the non-exclusive right to
place its name on the existing monument sign in front of the Building on Scottsdale Road in the location shown on Exhibit F attached hereto (the “Signage”); provided, however, Landlord shall have the right to terminate
Tenant’s Signage right granted herein at any time that Landlord enters into a lease with another tenant that leases more square footage in the Building than Tenant. The Signage shall be installed and maintained at Tenant’s sole cost and
expense throughout the Term as same may be extended. The rights of Tenant under this paragraph: (i) are personal to Tenant and may not be assigned to any other party, including without limitation any assignee or subtenant; (ii) are terminable by
Landlord following any monetary default not cured within applicable notice and cure periods, if such default continues for thirty (30) days following the expiration of the applicable cure period; and (iii) are terminable by Landlord if Tenant
reduces the size of the Premises below 13,285 rentable square feet, notwithstanding the consent of Landlord thereto. The location, size, 

  
 GAINEY
CENTER II/TPI COMPOSITES, INC. 
 Page 4 

 
material and design of the Signage shall be subject to the prior written approval of Landlord (which shall not be unreasonably withheld), and Tenant shall be responsible for compliance with laws.
Upon the expiration or earlier termination of the Lease or the termination of Tenant’s sign rights as set forth herein, Tenant shall remove the Signage, at Tenant’s sole cost and expense, and restore the area of the monument sign
containing the Signage to its condition immediately prior to the installation of the Signage. If Tenant fails to timely remove the Signage, then the Signage shall conclusively be deemed to have been abandoned by Tenant and may be appropriated, sold,
stored, destroyed, or otherwise disposed of by Landlord without further notice to Tenant or any other person and without obligation to account therefor. Tenant shall reimburse Landlord for all reasonable costs incurred by Landlord in connection
therewith within thirty (30) days of Landlord’s invoice. The provisions of this paragraph shall survive the expiration or earlier termination of the Lease. 

11. Liability Following Tenant Assignment. The sixth sentence of Article 24 of the Lease is hereby amended to provide that
Tenant shall not have any liability under the Lease following the expiration of the then-current Term of the Lease: (i) in the event of any Permitted Transfer where the Tangible Net Worth of the resulting Tenant entity is not less than the Tangible
Net Worth of Tenant on the date of this Amendment; or (ii) following any assignment of the Lease by Tenant that is consented to by Landlord in writing (Tenant acknowledging that Landlord may refuse to consent to such assignment on the basis of such
release, or may condition its consent upon no release). “Tangible Net Worth” means the excess of total assets over total liabilities, in each case as determined in accordance with generally accepted accounting principles
consistently applied (“GAAP”), excluding, however, from the determination of total assets all assets which would be classified as intangible assets under GAAP including goodwill, licenses, patents, trademarks, trade names,
copyrights, and franchises. Any subsequent transfer shall be subject to the terms of Article 24. 
 12. Brokers. Tenant
and Landlord each represent and warrant to the other that neither party has dealt with any real estate agent or broker in connection with this Amendment other than CBRE, Inc. (representing Landlord) and Cresa Phoenix (representing Tenant), and
Landlord and Tenant each agrees to indemnify, defend and hold the other harmless from and against any claims by any other broker, agent or other person claiming a commission or other form of compensation by virtue of having dealt with Landlord or
Tenant with regard to this leasing transaction. 
 13. Ratification/No Default. Except as modified by this Amendment, the Lease and
all the terms, covenants, conditions and agreements thereof are hereby in all respects ratified, confirmed and approved. Tenant hereby affirms that to Tenant’s actual knowledge on the date hereof, no breach or default by either party has
occurred and that the Lease, and all of its terms, conditions, covenants, agreements and provisions, except as hereby modified, are in full force and effect with no defenses or offsets thereto. 

14. Miscellaneous. This Amendment contains the entire understanding between the parties with respect to the matters contained herein.
Except as modified by this Amendment, the Lease shall remain unchanged and shall continue in full force and effect. No representations, warranties, covenants or agreements have been made concerning or affecting the subject matter of this Amendment,
except as are contained herein and in the Lease. This Amendment may not be changed orally, but only by an agreement in writing signed by both parties. The captions appearing 

  
 GAINEY
CENTER II/TPI COMPOSITES, INC. 
 Page 5 

 
in this Amendment are inserted only as a matter of convenience and in no way shall define, amplify, limit, construe, or describe the scope or intent of any section of this Amendment. 

15. Authority/Representations. Tenant hereby represents and warrants to Landlord that: (a) Tenant is in good standing under the laws of
the State of Delaware; (b) Tenant has full corporate power and authority to enter into this Amendment and to perform all of Tenant’s obligations under the Lease, as amended by this Amendment; and (c) each person (and all of the persons if more
than one signs) signing this Amendment on behalf of Tenant is duly and validly authorized to do so. Tenant represents and warrants to Landlord that Tenant has not made any assignment, sublease, transfer, conveyance or other disposition of
Tenant’s interest in and to the Original Premises. 
 16. Counterparts. This Amendment may be executed in any number of
identical counterparts each of which shall be deemed to be an original and all, when taken together, shall constitute one and the same instrument. A facsimile or similar transmission of a counterpart signed by a party hereto shall be regarded as
signed by such party for purposes hereof. 
 17. No Offer. Submission of this instrument for examination and signature by Tenant does
not constitute an offer to lease or a reservation of or option for lease, and this instrument is not effective as a lease amendment or otherwise until executed and delivered by both Landlord and Tenant. 

18. Limitation of Landlord’s Liability. The liability of Landlord (and its partners, shareholders or members) to Tenant (or any
person or entity claiming by, through or under Tenant) for any default by Landlord under the terms of the Lease as amended by this Amendment or any matter relating to or arising out of the occupancy or use of the Premises and/or other areas of the
Building shall be limited to Tenant’s actual direct, but not consequential, damages therefor and shall be recoverable only from the interest of Landlord in the Building and Landlord (and its partners, shareholders or members) shall not be
personally liable for any deficiency. 
 For the purposes of this Section 17, the term “interest of Landlord in the Building” shall include
the unencumbered rents, profits and proceeds of sale of the Building; provided, however, so long as the Building (or the entity owning the Building) is owned by a pension fund, trust, REIT or similar ownership structure, Tenant’s right to
recover proceeds of sale in connection with a judgment against Landlord is contingent upon Tenant delivering written notice of any claims within thirty (30) days of Tenant’s receipt of written notice from Landlord of a sale (or pending sale) of
the Building so that Landlord may take appropriate measures to hold back sufficient funds in connection with such claims prior to distribution of sales proceeds to the pension fund, trust, REIT or similar ownership structure. 

[Signature page follows] 

  
 GAINEY
CENTER II/TPI COMPOSITES, INC. 
 Page 6 

 IN WITNESS WHEREOF, Landlord and Tenant have executed and delivered this Amendment as of the Effective Date. 

 

					
	LANDLORD:
	
	 GAINEY CENTER II, LLC,
 a
Delaware limited liability company

		
	By:	 	 ICRE REIT HOLDINGS, a
 Maryland real
estate investment trust, its sole member

			
		 	By:	 	 /s/ Terrell Weatherl

		 	Name:	 	 Terrell Weatherl

		 	Title:	 	 Vice President

	
	TENANT:
	
	 TPI COMPOSITES, INC.,
 a
Delaware corporation

		
	By:	 	 /s/ William E. Siwek

	Name:	 	 William E. Siwek

	Title:	 	 Chief Financial Officer

  
 GAINEY
CENTER II/TPI COMPOSITES, INC. 
 Page 7 

 EXHIBIT A 

NEW SPACE 
  

 

  
 GAINEY
CENTER II/TPI COMPOSITES, INC. 
 Page 8 

 EXHIBIT A-1 

LICENSE AREA 
  

 

  
 GAINEY
CENTER II/TPI COMPOSITES, INC. 
 Page 9 

 EXHIBIT B 

WORKLETTER 
 1.
Acceptance of Premises. Except for Landlord’s payment of the Construction Allowance (and Additional Allowance if applicable), each as defined below, Tenant accepts the New Space in “AS-IS” condition on the date that this
Amendment is entered into. 
 2. Space Plans. Attached hereto as Exhibit A is a space plan indicating improvements
Tenant desires to make to the New Space (the “Space Plan”), which Space Plan has been approved by Landlord. 
 3.
Working Drawings. 
 (a) Preparation and Delivery. On or before the date which is thirty (30) days following
full execution of this Amendment (the “Working Drawings Delivery Deadline”), Tenant shall provide to Landlord for its approval final working drawings, prepared by Roberta Thomas of Evolution Design (the
“Architect”), of all improvements that Tenant proposes to install in the New Space; such working drawings shall include the partition layout, ceiling plan, electrical outlets and switches, telephone outlets, drawings for any
modifications to the mechanical and plumbing systems of the Building, and detailed plans and specifications for the construction of the improvements called for under this Exhibit in accordance with all applicable laws. 

(b) Approval Process. Landlord shall notify Tenant whether it approves of the submitted working drawings within ten (10)
business days after Tenant’s submission thereof, which approval shall not be unreasonably withheld so long as such working drawings are consistent with the Space Plan. If Landlord disapproves of such working drawings, then Landlord shall notify
Tenant thereof specifying in reasonable detail the reasons for such disapproval, in which case Tenant shall, within five (5) business days after such notice, revise such working drawings in accordance with Landlord’s objections and submit the
revised working drawings to Landlord for its review and approval. Landlord shall notify Tenant in writing whether it approves of the resubmitted working drawings within five (5) business days after its receipt thereof. This process shall be repeated
until the working drawings have been finally approved by Tenant and Landlord. 
 (c) Landlord’s Approval; Performance of
Work. If any of Tenant’s proposed construction work will affect the Building’s structure or any of the Building’s systems, then the working drawings pertaining thereto must be approved by Landlord’s engineer.
Landlord’s approval of such working drawings shall not be unreasonably withheld, provided that (1) they comply with all laws, (2) the improvements depicted thereon do not adversely affect (in the reasonable discretion of Landlord) the
Building’s structure or the Building’s systems (including the Building’s restrooms or mechanical rooms), the exterior appearance of the Building, or the appearance of the Building’s Common Areas or elevator lobby areas, (3) such
working drawings are sufficiently detailed to allow construction of the improvements in a good and workmanlike manner, and (4) the improvements depicted thereon are performed in accordance with the Construction Rules and Regulations attached hereto
as Exhibit G. As used herein, “Working Drawings” shall mean the final working drawings approved by Landlord, as amended from time to time by any approved changes thereto, and “Work” shall mean
all improvements to be constructed in substantial accordance with and as indicated on the Working Drawings, together with any work required by governmental authorities to be made to other 

  
 GAINEY
CENTER II/TPI COMPOSITES, INC. 
 Page 10 

 
areas of the Building as a result of the improvements indicated by the Working Drawings. Plans and specifications of the Work will be subject to City and State review and approval.
Landlord’s approval of the Working Drawings shall not be a representation or warranty of Landlord that such drawings are adequate for any use or comply with any law, but shall merely be the consent of Landlord thereto. Tenant shall, at
Landlord’s request, sign the Working Drawings to evidence its review and approval thereof. After the Working Drawings have been approved, Tenant shall cause the Work to be performed in substantial accordance with the Working Drawings and this
Amendment. 
 (d) Cresa Project Management (“Project Manager”) shall manage the construction of the Work on behalf
of Tenant, provided that Tenant must use engineers: (i) reasonably selected by Landlord in connection with fire life safety systems; and (ii) selected by Tenant and reasonably approved by Landlord for any portion of the Work related to mechanical,
electrical and plumbing systems. Project Manager’s fees may be paid out of the Construction Allowance. Landlord shall have the right to have its construction management team oversee the Work on behalf of the Building and Landlord, provided that
Landlord shall not charge a construction management fee in connection therewith. 
 4. Bidding of Work. Tenant has selected
Willmeng Construction, Inc. as its general contractor for the performance of the Work, and Landlord has approved such selection. After Tenant’s receipt of bids for the Work, if the estimated Total Construction Costs (defined in Section 8
below) are expected to exceed the Construction Allowance (defined in Section 9 below), Tenant may value engineer any of Tenant’s requested alterations. In such case, Tenant shall notify Landlord of any items in the Working Drawings that
Tenant desires to change within two (2) business days after receipt of such bids. 
 5. Change Orders. If Tenant desires
changes in the Work, each such change must receive the prior written approval of Landlord, such approval not to be unreasonably withheld or delayed; however, if such requested change would adversely affect (in the reasonable discretion of Landlord)
(a) the Building’s structure or the Building’s systems (including the Building’s restrooms or mechanical rooms), (b) the exterior appearance of the Building, or (c) the appearance of the Building’s Common Areas or elevator lobby
areas, Landlord may withhold its consent in its sole and absolute discretion. Tenant shall, upon completion of the Work, furnish Landlord with an accurate architectural “as-built” plan of the Work as constructed, which plan shall be
incorporated into this Exhibit B by this reference for all purposes. 
 6. Definitions. As used herein
“Substantial Completion.” “Substantially Completed,” and any derivations thereof mean the Work in the New Space has been performed in substantial accordance with the Working Drawings, as reasonably
determined by Architect and Landlord (other than any details of construction, mechanical adjustment or other similar matter, the noncompletion of which does not materially interfere with Tenant’s use or occupancy of the New Space). 

7. Walk-Through; Punchlist. When Tenant considers the Work in the New Space to be Substantially Completed, Tenant will notify
Landlord and within three (3) business days thereafter, Landlord’s representative and Tenant’s representative shall conduct a walk-through of the New Space and identify any necessary touch-up work, repairs and minor completion items that
are necessary for final completion of the Work. Neither Landlord’s representative nor Tenant’s 

  
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representative shall unreasonably withhold his or her agreement on punchlist items. Tenant shall use reasonable efforts to cause the contractor performing the Work to complete all punchlist items
within thirty (30) days after agreement thereon; however, Tenant shall not be obligated to engage overtime labor in order to complete such items. 

8. Costs. Any and all hard and soft costs of performing the Work (including without limitation design of the Work and
preparation of the Working Drawings, costs of construction labor and materials, electrical and HVAC usage during construction, additional janitorial services, general tenant signage, related city fees, data cabling/IT equipment, security readers,
taxes and insurance costs, and Project Manager’s fees, all of which costs are herein collectively called the “Total Construction Costs”) shall be paid by Tenant (subject to the Construction Allowance (and Additional
Allowance if applicable), provided that the Construction Allowance and Additional Allowance may not be used for audio visual equipment, furniture or other personal property not related to permanent improvements). Upon approval of the Working
Drawings, Tenant shall promptly execute a work order agreement which identifies such drawings and itemizes the Total Construction Costs and sets forth the Construction Allowance (and if Tenant has elected same at such time, the Additional Allowance
or portion thereof). 
 9. Construction Allowance. Landlord shall provide to Tenant a construction allowance not to exceed
$40.00 per rentable square foot in the New Space ($531,400.00, the “Construction Allowance”) to be applied toward the Total Construction Costs (provided that the Construction Allowance and Additional Allowance may not be used
for audio visual equipment, furniture or other personal property not related to permanent improvements). 
 (a) The Construction Allowance
shall be disbursed in accordance with the schedule set forth in (c) below. If the projected cost of the Work exceeds the Construction Allowance, the cost of the Work in excess of the Construction Allowance is referred to herein as the
“Excess Costs”. Provided Tenant shall not be in default of any of its obligations under this Lease, Landlord agrees to fund, on a pro rata basis with Tenant, disbursements of the Construction Allowance (less retainage amounts
as set forth below) concurrently with Tenant’s funding of its pro rata share of the Excess Costs. For avoidance of doubt, Landlord and Tenant acknowledge that Landlord’s pro rata share of a payment due towards the cost of the Work (where
there are costs over and above the Construction Allowance) shall be based on the ratio that the Construction Allowance bears to the total projected cost of the Work, and Tenant’s pro rata share shall be the percentage share remaining after
subtracting Landlord’s pro rata share from 100. 
 (b) Landlord shall have the right to withhold reasonable retainage of the
Construction Allowance (and Additional Allowance if applicable) and to file notices of completion in the applicable county records in accordance with state law. The obligation of Landlord to make each such disbursement of the Construction Allowance
(and Additional Allowance if applicable) is subject to the condition precedent that, on the date of such disbursement, no event has occurred and is continuing which constitutes a default of Tenant under the Lease (as amended by this Amendment)
(provided that following the cure of such default Landlord shall fund the disbursement not disbursed due to such default). After each disbursement of the Construction Allowance (or any portion thereof) (and Additional Allowance if applicable, or
portion thereof) by Landlord to Tenant, Tenant shall be solely responsible for disbursement to Tenant’s general contractor, subcontractors, architect, engineers and material suppliers of payments for the Total 

  
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Construction Costs (limited as set forth above). The Construction Allowance must be used within nine (9) months following the New Space Commencement Date or shall be deemed forfeited with no
further obligation by Landlord with respect thereto. Prior to the date of this Amendment, Landlord made available to Tenant a test fit allowance of $0.12 per rentable square foot in the New Space ($1,594.20, the “Test Fit
Allowance”), which Test Fit Allowance if actually paid to Tenant (or its space planner) will be deducted from the Construction Allowance. 

(c) Landlord shall make payments of the Construction Allowance as follows (subject to the pro rata disbursement as described in (a) above):

 (i) First Payment Through Fifth Payments. Within thirty (30) days following Landlord’s receipt of a written
request from Tenant for a draw on the Construction Allowance (such request not to be given more than once a calendar month, and no more than in five (5) such monthly draws (for a total of six (6) payments including the Final Disbursement as defined
below), each such request for an amount not less than $50,000 of the Construction Allowance) together with the Supporting Documents. As used herein, the term “Supporting Documents” shall mean, with respect to each
disbursement (excluding the final disbursement) of the Construction Allowance hereunder: 
 (1) a written certification
reasonably satisfactory to Landlord, signed by a responsible officer of Tenant certifying an itemized statement of the actual costs and expenses incurred by Tenant with respect to the Work performed and the materials provided in connection with the
design, planning and construction of the Work, or the other costs to be paid out of the Construction Allowance, together with a true and complete copy of all relevant invoices from subcontractors performing $1,000.00 or more work and materials
suppliers supplying $1,000.00 or more materials, to Tenant’s general contractor and from Tenant’s general contractor to Tenant therefor; 

(2) an affidavit signed by Tenant’s general contractor affirming that all subcontractors, laborers, artisans, mechanics
and material suppliers engaged in or supplying labor or materials for the design, planning and construction of the Work have been paid in full, with the exception only of labor and materials supplied to complete “punch list” items; 

(3) a waiver of liens with respect to the New Space and the Building, executed by Tenant’s general contractor and, if
obtainable on the condition that they not be delivered and released except upon payment to Tenant’s general contractor, a waiver of liens executed by all subcontractors, laborers, artisans, mechanics and material suppliers engaged in or
supplying labor or materials for the design, planning and construction of the Work in the amount of $1,000.00 or more; provided, however, if a claim of lien or a lien has been filed by any such subcontractor, laborer, artisan, mechanic or material
supplier, Tenant shall obtain an unconditional waiver of such lien before Landlord shall be obligated to disburse the relevant installment of the Construction Allowance; 

  
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 (4) a written certification by Tenant’s Architect to the effect that the
Work installed to date have been completed substantially (i.e., subject only to the completion of “punch list” items) in accordance with the approved Working Drawings and applicable legal requirements; and 

(5) AIA documents G702 and G703 or their equivalents. 

(iii) Sixth and Final Payment/Final Disbursement. Within thirty (30) days following Landlord’s receipt of a written
request from Tenant for a final draw on the Construction Allowance (the “Final Disbursement”), together with the Final Documents (as defined herein), Landlord shall pay the remaining balance of the Construction Allowance (and
Additional Allowance, if applicable, reduced by the Test Fit Allowance if same was funded previously). As used herein, the term “Final Documents” shall mean: 

(1) a copy of the certificate of occupancy for the New Space issued by the appropriate governmental authority adequate to
support occupancy of the New Space (provided if such certificate of occupancy is temporary in nature, Tenant shall be obligated to diligently pursue the issuance of the permanent certificate of occupancy for the New Space, a copy of which shall be
promptly delivered by Tenant to Landlord); 
 (2) a written certification reasonably satisfactory to Landlord, signed by a
responsible officer of Tenant of the final, actual costs and expenses incurred by Tenant with respect to the work performed and the materials provided in connection with the design, planning and construction of the Work, together with a true and
complete copy of all relevant invoices from subcontractors performing $1,000.00 or more work and materials suppliers supplying $1,000.00 or more materials, to Tenant’s general contractor and from Tenant’s general contractor to Tenant
therefor, and (ii) that all such costs and expenses have been paid in full prior to delinquency; 
 (3) an affidavit signed
by Tenant’s general contractor affirming that all subcontractors, laborers, artisans, mechanics and material suppliers engaged in or supplying labor or materials for the design, planning and construction of the Work have been paid in full prior
to delinquency, with the exception only of labor and materials supplied to complete “punch list” items; 
 (4) a
final waiver of liens with respect to the New Space and the Building executed by Tenant’s general contractor and all subcontractors, laborers, artisans, mechanics and material suppliers engaged in or supplying labor or materials for the design,
planning and construction of the Work in the amount of $1,000.00 or more; provided, however, if a claim of lien or a lien has been filed by any such subcontractor, laborer, artisan, mechanic or material supplier, Tenant shall obtain an unconditional
waiver of such lien before Landlord shall be obligated to disburse the final installment of the Allowance; 

  
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 (5) a written certification by Tenant’s Architect to the effect that all of
the Work has been completed substantially (i.e., subject only to the completion of “punch list” items) in accordance with the approved Working Drawings and applicable legal requirements; 

(6) a complete set of “as built” plans for the Work; and 

(7) AIA documents G702 and G703 or their equivalents. 

10. Additional Allowance. At Tenant’s election, Landlord shall contribute an additional sum not to exceed $5.00 per
rentable square foot in the New Space ($66,425.00, the “Additional Allowance”) toward Total Construction Costs. The amount of the Additional Allowance actually utilized by Tenant shall be amortized as additional Minimum Rent
over the eighty-four (84) months following the Abatement Months during the New Space Term at eight percent (8%) per annum, in the same manner as a loan having equal monthly payments of principal and interest. Tenant’s election to use all or a
portion of the Additional Allowance shall be made by written notice to Landlord given no later than five (5) days after Substantial Completion. Within ten (10) days after Landlord’s request, Tenant shall execute and return an amendment
modifying the Minimum Rent accordingly. If Tenant fails timely: (i) to make its election regarding utilization of the Additional Allowance; or (ii) to execute and return the required lease amendment, then Landlord shall automatically be released
from its obligation to contribute the Additional Allowance. 
 11. Construction Representatives. Landlord’s and
Tenant’s representatives for coordination of construction and approval of change orders will be as follows, provided that either party may change its representative upon written notice to the other: 

 

			
	Landlord’s Representative:	 	Alexis Matt
		 	CBRE | Asset Services
		 	1630 S. Stapley Drive, Suite 212
		 	Mesa, AZ 85204
		 	Telephone: 480-507-1802
		 	Email: alexis.matt@cbre.com
		
	Tenant’s Representative:	 	Kelly Branch
		 	Cresa Phoenix
		 	2398 E. Camelback Road, Suite 900
		 	Phoenix, AZ 85016
		 	Telephone: 602-918-0058 cell | 602-648-4696 direct
		 	Email: kbranch@cresa.com

  
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 EXHIBIT C 

RENEWAL OPTION 
 If
Tenant has not committed an Event of Default at any time during the New Space Term, and Tenant is occupying the entire Premises at the time of such election, Tenant may renew the Lease for one (1) additional period of five (5) years, by delivering
written notice of the exercise thereof to Landlord not later than twelve (12) months before the expiration of the New Space Term. The Minimum Rent payable for each month during such extended Term shall be the prevailing rental rate (the
“Prevailing Rental Rate”), at the commencement of such extended Term, for renewals of space in comparable buildings in the central Scottsdale market, of equivalent quality, size, utility and location, with the length of the
extended Term and the credit standing of Tenant to be taken into account. Within thirty (30) days after receipt of Tenant’s notice to renew, Landlord shall deliver to Tenant written notice of Landlord’s determination of the Prevailing
Rental Rate and shall advise Tenant of the required adjustment to Minimum Rent, if any, and the other terms and conditions offered. Tenant shall, within ten (10) days after receipt of Landlord’s notice, notify Landlord in writing whether Tenant
accepts or rejects Landlord’s determination of the Prevailing Rental Rate. 
 If Tenant timely notifies Landlord that Tenant rejects
Landlord’s determination of the Prevailing Rental Rate, then the Prevailing Rental Rate as of commencement of the renewal Term shall be determined as follows: within thirty (30) days after receipt of Landlord’s notice specifying
Landlord’s determination of the Prevailing Rental Rate, Tenant, at its sole cost, shall obtain and deliver in writing to Landlord a determination of the Prevailing Rental Rate for the Premises for a term equal to the renewal Term from a broker
(“Tenant’s Broker”) licensed in the State of Arizona and with not less than ten (10) years’ experience in leasing space in comparable buildings in the central Scottsdale market. If Landlord accepts such
determination, the Minimum Rent for the renewal Term shall be adjusted to an amount based upon the Prevailing Rental Rate determined by Tenant’s Broker. If Landlord does not accept such determination within fifteen (15) days after receipt of
the determination by Tenant’s Broker, Landlord shall designate a broker (“Landlord’s Broker”) licensed in the State of Arizona and with not less than ten (10) years’ experience in leasing space in comparable
buildings in the central Scottsdale market. If Landlord’s Broker and Tenant’s Broker cannot together agree on the Prevailing Rental Rate, Landlord’s Broker and Tenant’s Broker shall name a third broker, similarly qualified,
within five (5) days after the appointment of Landlord’s Broker. Each of said three (3) brokers shall determine the Prevailing Rental Rate for the Premises as of the commencement of the renewal Term for a five (5) year term within fifteen (15)
days after the appointment of the third broker. The Minimum Rent payable by Tenant effective as of the commencement of the renewal Term shall be adjusted to an amount equal to the arithmetic average of such three determinations; provided, however,
that if any such broker’s determination deviates more than ten percent (10%) from the median of such determinations, the Minimum Rent payable shall be an amount equal to the average of the two closest determinations. Landlord shall pay the
costs and fees of Landlord’s Broker in connection with any determination hereunder, and Tenant shall pay the costs and fees of Tenant’s Broker in connection with such determination. The costs and fees of any third broker shall be paid one
half ( 1⁄2) by Landlord and one half ( 1⁄2) by Tenant. 

Upon the determination of the Minimum Rent for the renewal Term as aforesaid, or if Tenant timely notifies Landlord that Tenant accepts
Landlord’s determination of the Prevailing Rental Rate, then, on or before the commencement date of the renewal Term, Landlord and Tenant shall execute 

  
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an amendment to the Lease extending the Term on the same terms provided in the Lease (as amended by this Amendment), except as follows: 

(a) Minimum Rent shall be adjusted to the Prevailing Rental Rate; 

(b) The Base Year for calculating the Expense Stop shall be calendar year 2023, Tenant shall pay actual Operating Expenses in excess of such
Base Year for calendar year 2024, and the Cap shall be applicable to Operating Expenses for calendar year 2025 and the other remaining years of such renewal Term; 

(c) Tenant shall have no further renewal option unless expressly granted by Landlord in writing; 

(d) Landlord shall lease to Tenant the Premises in their then-current condition, and Landlord shall not provide to Tenant any allowances
(e.g., moving allowance, construction allowance, and the like) or other tenant inducements; and 
 (e) Tenant shall pay for the parking
spaces which it is entitled to use at the then-market rates from time to time charged to patrons of the Parking Garage (plus all applicable taxes). 

If Tenant fails to timely notify Landlord in writing that Tenant accepts or rejects Landlord’s determination of the Prevailing Rental
Rate, time being of the essence with respect thereto, Tenant’s rights under this Exhibit shall terminate and Tenant shall have no right to renew the Lease. 

Tenant’s rights under this Exhibit shall terminate if (1) the Lease or Tenant’s right to possession of the Premises is terminated,
(2) other than pursuant to a Permitted Transfer, Tenant assigns any of its interest in the Lease or sublets any portion of the Premises, (3) Tenant fails to timely exercise its option under this Exhibit, time being of the essence with respect to
Tenant’s exercise thereof, or (4) Landlord determines, in its sole but reasonable discretion, that Tenant’s financial condition or creditworthiness has materially deteriorated since the date of this Amendment. 

  
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 EXHIBIT D 

RIGHT OF FIRST OFFER 

Subject to renewal or expansion options of other tenants existing on the date of this Amendment (“Prior Rights”), and
provided no Event of Default then exists, Landlord shall, prior to offering the same to any party (other than tenants with Prior Rights), first offer to lease to Tenant the space adjacent to the New Space on the first floor of the Building and shown
on Exhibit D-1 attached hereto (the “Offer Space”) in an “AS-IS” condition; such offer shall be in writing and specify the lease terms for the Offer Space, including the rent to be paid for the Offer Space
(which if leased by Tenant within the twelve (12) month period following the New Space Commencement Date shall be upon the same per square foot Minimum Rent rate, with a pro-rata share of the $40.00 per square foot Construction Allowance based upon
the number of months remaining in the Term of the Lease on the date of commencement of the Term relating to the Offer Space and the number of months the Offer Space is available (if less than the entire Term), otherwise same shall be at prevailing
market rates for the Building) and the date on which the Offer Space shall be included in the Premises (the “Offer Notice”). Tenant shall notify Landlord in writing whether Tenant elects to lease the entire Offer Space on the
terms set forth in the Offer Notice, within five (5) business days after Landlord delivers to Tenant the Offer Notice. If Tenant timely elects to lease the Offer Space, then Landlord and Tenant shall execute an amendment to the Lease, effective as
of the date the Offer Space is to be included in the Premises, on the terms set forth in the Offer Notice and, to the extent not inconsistent with the Offer Notice terms, the terms of the Lease (as amended by this Amendment). The term of the lease
on the Offer Space shall be the greater of: (i) the remaining term of the Lease; and (ii) three (3) years (with the term of the Lease for the Premises being extended if necessary to expire co-terminously with such 3-year term on the Offer Space).
Notwithstanding the foregoing, if prior to Landlord’s delivery to Tenant of the Offer Notice, Landlord has received an offer to lease all or part of the Offer Space from a third party (a “Third Party Offer”) and such
Third Party Offer includes space in excess of the Offer Space, Tenant must exercise its rights hereunder, if at all, as to all of the space contained in the Third Party Offer. 

If Tenant fails or is unable to timely exercise its right hereunder, then Landlord may lease all or a portion of the Offer Space to third parties on such
terms as Landlord may elect, Tenant’s right being a one-time right only. Tenant may not exercise its rights under this Exhibit if an Event of Default exists or Tenant is not then occupying the entire Premises. 

  
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 EXHIBIT D-1 

OFFER SPACE 
  

 

  
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 Page 19 

 EXHIBIT E 

PARKING SPACES 
 Covered
reserved (surface level) 
  
 

 

  
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 EXHIBIT E (continued) 

PARKING SPACES 
  

 Rooftop 
  

 

  
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 EXHIBIT F 

TENANT’S SIGNAGE 
  

 

  
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 EXHIBIT G 

CONSTRUCTION RULES AND REGULATIONS 

[See Attached] 

  
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 GAINEY CENTER II 

 
 CONSTRUCTION
RULES AND REGULATIONS 
  

 
 Contacts 

 

			
	Real Estate Manager	  	Alexis Matt 480-507-1802
	Assistant Real Estate Manager	  	Korbin Johnson 480-507-1802
	Chief Engineer	  	Paul Richardson 480-507-1802
	After Hours Access Clearances	  	Must be scheduled with Management ahead of time

 Building Hours: 6:00 a.m. – 6:00 p.m. Monday - Friday 

Rules 
 All general contractors, subcontractors,
suppliers, vendors, etc. shall be immediately advised of the following rules concerning their proper conduct within the building. It is the general contractor’s responsibility to ensure that their subcontractors read and understand
these rules and regulations. Ignorance of these rules is neither a waiver of liability nor responsibility. 
 Access to Jobsite

  

	1.	Access to any construction job site is restricted to the general contractor and their subcontractors. All unauthorized persons will be asked to leave the job site. All contractors and subcontractors must check in
with the building engineer so security knows where they are in the building. They will leave a copy of the identification and retrieve it when they are finished for the day. 

 

	2.	Contractor must inform the management office in writing of construction start and completion dates. They must also provide the management office with a construction schedule and a list of subcontractors, contact
names, and phone numbers. In addition, Contractor must supply the management office with current certificates of insurance for all contractors and sub-contractors (see insurance requirements below). 

 

	3.	The driveway in front of the building is for loading and unloading only with a 20 minute maximum. The delivery of merchandise, supplies, fixtures, and other materials or goods to and from the work area and all
loading, unloading, and handling MUST be done BEFORE or AFTER Building Hours and scheduled in advance with the Management office for security clearance. Small 1 trip loads may be done between 9 am – 11am or 1 pm to 4 pm.

  

	4.	Any work that involves loud noises or strong odors MUST be done BEFORE or AFTER Building Hours. 

  
  

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 CBRE Asset Services

 1630 S. Stapley Drive, Suite 212, Mesa, AZ 85204 

480-507-1802 Phone ¡ Fax 480-507-1805 

  
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 GAINEY CENTER II 

 
  

	5.	Construction crews shall provide their own parking. Any unauthorized vehicle in the loading dock area shall be ticketed and towed at its expense. 

 

	 	6.	The padded elevators are to be used solely for the transportation of materials and are available for contractor and general building use. After hours scheduling of elevators must be coordinated with the Management
office. Stocking and/or vertical movement through the building of materials and/or personnel and equipment for tenant finish work shall be facilitated by use of the padded elevators only. At no time shall Contractor, its workmen or suppliers,
transport equipment or supplies via unpadded elevators. The cost of repairs shall be assessed against Contractor if elevators are damaged by use of contractor or subcontractor employees. It is mandatory that Contractor clean the padded
elevator(s) during and after use. Door Opening = 42” x 103” Width =78” Height =88” Depth =64” 

  

	7.	Stocking shall take place only BEFORE or AFTER Building Hours and only by use of the loading dock, unless special arrangements have been made in advance. Contractors will not be provided exclusive use of
the padded elevators at any time, though 24 hours notice will enhance scheduling opportunities. All materials must be clearly identified prior to being hoisted. The maximum load allowed in the elevators shall not exceed their maximum rated capacity
of 3,500 lbs. 

  

	8.	Proper floor, wall, door frame and other protections are expected to be provided and maintained for large deliveries of materials, for entrances to construction areas, and common areas located between the freight
elevator and construction areas. Construction paths across common areas and/or lobbies must be kept clean at all times and such cleaning will be the responsibility of construction contractor. 

 

	9.	All after-hours work must be scheduled in advance through the building management office. If a Contractor deems it necessary to perform work before 6:00 a.m. or after 6:00 p.m. Monday through Friday, or any time during
the weekend, it shall be that Contractor’s responsibility to submit a request accordingly to the management office before 3:00 p.m. on that day. After-hours work may not take place without management office prior approval. 

 

	10.	After-hours access to tenant spaces or secure floors will require written authorization from the tenant before access will be granted. Extra costs, if any, incurred by Manager to facilitate Contractor’s after-hours
work, shall be reimbursed to the Manager by the Contractor. 

  

	11.	Contractor must provide the management office with a list of after hours/emergency contact names and phone numbers for 24-hour notification during the length of the construction
job. 

  

	12.	No equipment or materials are to be stored outside the confines of the specific construction area without written permission from the management office. 

  
  

Page 2 of 10 
 CBRE Asset Services

 1630 S. Stapley Drive, Suite 212, Mesa, AZ 85204 

480-507-1802 Phone ¡ Fax 480-507-1805 

  
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 GAINEY CENTER II 

 
  

	13.	All Fire System testing and inspections are to be scheduled through the office after Building Hours. 

Insurance and Indemnification 
  

	1.	Contractor shall, subject to all of the terms set fourth below, maintain at its own expense, throughout the life of its performing work at Gainey Center II and the additional time periods specified below, the minimum
types and amounts of insurance set fourth below, which insurance shall be placed with insurance companies rated, at a minimum, “A” by Best’s Rating Guide and shall incorporate the provision requiring the giving of written notice to
Manager at least thirty (30) days prior to the cancellation, non-renewal, or material modification of any policies as evidenced by return receipt of United States certified mail: 

 

	 	A.	Workers Compensation Insurance affording thirty days written notice of cancellation to Manager. The amount and scope of such insurance shall be the greater of (1) the insurance currently maintained by
Contractor, (2) any amounts and scope required by statute or other governing law. 

 Commercial General Liability Insurance
on an occurrence basis in an amount equal to the greater or (1) the insurance currently maintained by Contractor or (2) $2,000,000 each occurrence; and such insurance shall include the following coverages: (1) $2,000,000 completed operations
coverage, (2) TBD $1-$50,000,000 blanket contractual coverage, including both oral and written contracts, (3) $2,000,000 personal injury coverage, (4) $2,000,000 general aggregate per project/location, (5) $5,000 medical payments, (6) Gainey
Center II, LLC., as Owner INVESCO Real Estate, a division of Invesco Institutional (N.A.), Inc., as Owner’s Advisor and CBRE, Inc., as Property Manager, and Gainey Office Center I, LLC. including completed operations coverage, (7) an
endorsement affording thirty days notice to Manager in the event of cancellation of coverage, and (8) an endorsement providing that such insurance as is afforded under Contractor’s policy is primary insurance as respects to the Manager and that
any other insurance maintained by Manager is excess and noncontributing with the insurance required hereunder. No endorsement limiting or excluding a required coverage is permitted. In no event shall the deductible on any such policy of insurance
exceed $10,000. Claims-made coverage is not acceptable. Please see attached documents for more information regarding insurance requirements. NOTE: THE ADDITIONAL INSURED ENDORSEMENT REQUIRED HEREIN SHALL BE AN ISO FORM (CG 2026 11 85), OR
EQUIVALENT. 
 Endorsements and Certificates of Insurance shall me mailed or faxed to the Certificate Holder as described below:

 Gainey Center II 
 1630 S.
Stapley Dr. 
 Suite 212 

  
  

Page 3 of 10 
 CBRE Asset Services

 1630 S. Stapley Drive, Suite 212, Mesa, AZ 85204 

480-507-1802 Phone ¡ Fax 480-507-1805 

  
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 Page 26 

 GAINEY CENTER II 

 
  

 Mesa, AZ 85204 

480.507.1805 (Fax) 
  

	C.	Business Automobile Liability Insurance in an amount equal to the greater of (1) the insurance currently maintained by Contractor or (2) $1,000,000; and including the following coverages (I) owned autos, (II) hired or
borrowed autos, (III) non-owned autos, and (IV) an endorsement affording thirty days written notice of cancellation to Manager in event of cancellation of coverage. No endorsement limiting or excluding a required coverage is permitted.

  

	D.	Contractor shall deliver to Manager written evidence of the above insurance coverages, including the required endorsements, prior to commencing work. 

 

	E.	If Contractor fails to furnish and maintain the insurance required herein. Manager may (but is not required to) purchase such insurance on behalf of Contractor, and Contractor shall pay the cost thereof to Manager upon
demand and shall furnish to Manager any information needed to obtain such insurance. Moreover, at its discretion. Manager may pay for such insurance with funds otherwise due to Contractor, if work contracted directly with Manager. 

 

	F.	If Contractor performs any work on a design-build basis, then Contractor shall also, for all such design work, be required to secure professional liability insurance (either in the name of Contractor or in the name of
the engineer or other design professional performing the design work) in an amount equal to the greater of (1) the insurance currently maintained by the engineer or other design professional performing such design work, or (2) $2,000,000; on a
claims-made basis. Said insurance shall be maintained at all times during the engineer’s or other design professional’s performance in connection with the building, and for a period of five years following completion of related
construction. In no event shall the deductible on any such policy of insurance exceed $25,000. 

  

	2.	 Contractor shall indemnify, defend and hold Gainey Center, LLC & Invesco Advisers, Inc., A/K/A Gainey Center
II and CBRE, Inc., and any subsidiary, parent or affiliate corporations of both of them, and all of their directors, officers, agents and employees (collectively, “Manager”) harmless from all losses, claims, liabilities, injuries, costs
and expenses that Indemnities may incur by reason of any injury or damage or loss sustained to any person or property or entity arising out of or occurring in connection with Contractor’s alleged or actual acts, errors or omissions or the
alleged or actual acts, errors or omissions of any subcontractor of any tier or any other person directly or indirectly employed by them, or any of them, while engaged in the performance of the work at the building, or any activity associated
therewith or relative thereto. Contractor’s duty to defend and indemnify Manager shall exist even if the alleged injuries or damages sustained by the claimant are the result in part of Manager’s active or passive negligence, but the duty
to defend and indemnify Manager shall not extend to injuries or damages that are the result of Manager’s sole negligence or willful misconduct. Contractor’s duty to defend is separate and distinct from the duty to indemnity and shall
immediately arise when a claim is asserted against Manager 

  
  

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 CBRE Asset Services

 1630 S. Stapley Drive, Suite 212, Mesa, AZ 85204 

480-507-1802 Phone ¡ Fax 480-507-1805 

  
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CENTER II/TPI COMPOSITES, INC. 
 Page 27 

 GAINEY CENTER II 

 
  

	 	
in connection with the performance of Contractor, or those for whom Contractor is liable, in connection with this Contract, and regardless of whether others may owe Manager a duty of defense and
or indemnity. 

 Cooperation 
  

	1.	Manager may require that hoardings be constructed around work areas and that all work be conducted and all tools and materials be kept behind such hoardings and that all cutting, drilling or other noisy work is
conducted outside occupied tenants’ normal business hours. 

  

	2.	The Contractor is responsible at all times for keeping work areas and adjacent areas free from accumulations of waste material and/or rubbish caused by their subcontractors, workmen or suppliers. The Contractor is
responsible for leaving the work area in a broom clean condition at the end of each work day. The Contractor is also responsible for the final clean up which shall include but not be limited to light fixtures, windows and trim, entries and public
space affected by the work, janitorial rooms, and mechanical rooms. Any repair or cleaning cost incurred by Manager relative to the Contractor’s work, including but not limited to delinquency in attending to repairs or cleaning, shall be paid
by the Contractor. 

  

	3.	Gainey Center II is a non-smoking building. Smoking is absolutely prohibited in construction areas, common areas, non-public areas the parking garage and loading dock. 

 

	4.	Contractors, subcontractors, workmen and suppliers shall be required to use restrooms designated by Manager for use by construction personnel. Damages shall be repaired at the damaging contractor’s expense as
reasonably determined by Manager. Use of building restrooms other than those designated are restricted and are off limits to construction personnel. Restroom facilities shall be maintained by the Contractor while work is underway. 

 

	5.	Manager also retains the right to deny building access to any individual(s), permanently or temporarily, if in Manager’s sole discretion such individual(s) commit(s) any action which could be considered detrimental
to the building, its personnel and/or its tenants. 

 Technical Procedures 

 

	1.	This building has sensitive fire and life safety systems, therefore various precautions need to be taken by Contractor in order to avoid false alarms. These precautions will likely include covering smoke detectors
and/or periodically disabling fire alarm zones. Any work that may impact the fire and life safety systems must be coordinated through the building management office. Costs incurred by Manager for false alarms caused by Contractor will be passed on
to Contractor. Methods employed to avoid false alarms must not compromise life safety in the building. 

  
  

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 CBRE Asset Services

 1630 S. Stapley Drive, Suite 212, Mesa, AZ 85204 

480-507-1802 Phone ¡ Fax 480-507-1805 

  
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CENTER II/TPI COMPOSITES, INC. 
 Page 28 

 GAINEY CENTER II 

 
  

	2.	Emergency lighting, life safety and energy management systems shall not be disconnected under any circumstances without prior written approval from Manager. Upon receiving approval, the work shall be scheduled through
the building management office 24 hours in advance. Work shall be performed expeditiously and emergency facilities shall be restored immediately upon completion. Additionally, building personnel, who monitor all life safety systems, must be notified
at 480-507-1802 prior to any such work being started. 

  

	3.	Building return air shafts, and Variable Air Volume (VAV) boxes, where applicable, must be protected under dusty conditions by the use of a suitable filler media. Installation and removal of such media should be
coordinated through the properly management office. Proper dust control measures must be used and maintained at all times, including installation of filter media at the return ducts to the air handler room (return air plenum), and pre-filters at
the air handler intake located at the front of each unit. Contractor will be responsible for any and all damages to motors and/or variable frequency drive equipment, due to infiltration of contaminants. Air handling rooms must be returned to the
same condition at the end of a project as they were before construction commenced. 

  

	4.	All abandoned equipment, cabling, ductwork, piping, etc., shall be removed by Contractor at the time it becomes abandoned or at the time it is discovered abandoned. Verify with Manager prior to removal.

  

	5.	No core drilling, concrete removal or structural steel alteration shall be performed without prior written approval of Manager and Manager’s structural engineer, if required. X-rays may be required prior to any and
all core drilling. The Contractor must take prudent precautions to ensure that no one (including occupants, visitors, building personnel, inspectors and workmen) will be exposed to potentially harmful rays. Core drilling and X-rays must be performed
before 6:00 a.m., and after 6:00 p.m., or on weekends and should be coordinated at least 48 hours in advance through the property management office. In addition certain types of demolition and the use of powder-actuated tools should be coordinated
through the management office to minimize conflicts with other tenants in adjacent spaces or floors. 

  

	6.	Temporary power is available at the electrical room on each floor. Additional power requirements beyond those provided shall be the responsibility of the Contractor. 

 

	7.	All temporary lights shall be provided and maintained by the Contractor. Contractor is responsible for turning off lights and breakers each night. 

 

	8.	 Manager shall be notified 24 hours in advance before Contractor cuts into any duct, sprinkler line, water meter,
or before moving any air handling equipment, thermostat, etc. Additionally, a 24-hour notice shall be given prior to any varnishing, draining of sprinkler lines, or use of toxic materials so that ventilation requirements may be reviewed.
Drainage 

  
  

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 CBRE Asset Services

 1630 S. Stapley Drive, Suite 212, Mesa, AZ 85204 

480-507-1802 Phone ¡ Fax 480-507-1805 

  
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CENTER II/TPI COMPOSITES, INC. 
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of sprinkler lines must occur after hours to avoid odors permeating the building during normal business hours. Additionally, work on sprinkler lines (cutting, draining, etc.) on tenant
occupied floors shall occur only after regular business hours. Manager reserves the right to withhold approval for Contractor to use any materials which Manager, in its sole discretion, deems could be harmful to the building or its occupants.

  

	9.	Painting, varnishing, and any processes that involve petroleum or solvent-based chemicals MUST be performed BEFORE or AFTER Building Hours. Latex or water-based processes may be reviewed on a case by case
basis for application during normal working hours. 

  

	10.	Final fire alarm tie-in shall be performed by Alliance Fire at Contractor’s expense. No exceptions will be considered. 

  

	11.	All cabling (including but not limited to telephone and computer cabling) shall be plenum rated and independently supported; existing wires, pipes, conduits, ceiling grid, etc. shall not be used to support cables.

  

	12.	Gainey Center II relies on an energy management system to control its lighting and HVAC. Prior to any demolition or remodeling, Contractor shall review with Manager the location of all related wiring, sensors and
thermostats and ensure they are not damaged in conjunction with Contractor’s work. In the event that temporary removal is necessary, Contractor shall obtain Building Management’s prior approval, which shall require a plan for their
relocation/re-installation. Unapproved removal of any components in this system will result in a back charge to the Contractor for repair, replacement and incidental costs. 

 

	13.	Contractor must have a minimum 10 lb. ABC fire extinguisher on the construction site at all times. 

  

	14.	All flammable, combustible, and toxic materials are to be stored in approved containers supplied by the contractor at all times. No gasoline-powered devices will be permitted within the building. All equipment will be
electrically operated. All hazardous materials must be removed by the Contractor according to EPA and OSHA guidelines upon completion of the project. 

  

	15.	No one shall be allowed to endanger the building or its occupants in any manner whatsoever. Contractor shall immediately correct any hazardous conditions. If contractor fails to correct the hazardous condition, CBRE
Management reserves the right to correct the situation at contractor’s expense. 

  

	16.	All construction debris shall be removed on a timely basis and shall not be allowed to produce a fire hazard. If contractor fails to keep the premises clean. Manager reserves the right to remove the debris at the
contractors’ expense. 

  
  

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 CBRE Asset Services

 1630 S. Stapley Drive, Suite 212, Mesa, AZ 85204 

480-507-1802 Phone ¡ Fax 480-507-1805 

  
 GAINEY
CENTER II/TPI COMPOSITES, INC. 
 Page 30 

 GAINEY CENTER II 

 
  

	17.	Existing window blinds should be pulled to the top of the window and covered in plastic for duration of the job. 

  

	18.	Retail construction areas must utilize paper window coverings at all times during the construction process. 

  

	19.	Tenant telephone equipment may not be installed in the building telephone closets. Tenant telephone equipment must be installed within the tenant’s leased premises. Please notify the management office if
tenant communications equipment is planned for installation in the building telephone closet. 

 Code Compliance 

The Contractor, at its sole expense, shall procure all legally required permits relative to the construction work, and shall, during construction, comply with
all applicable legal requirements. The construction work shall, once completed, comply with all applicable laws, ordinances, regulations, codes or orders of any state, municipal or other public authority affecting same, and with all requirements of
the local fire rating insurance organization, the Scottsdale Fire Department and other similar bodies. 
 Safety 

 

	1.	All state, local and federal safety rules and regulations must be observed at all times. All contractors shall cooperate in every detail with any and all other safety requirements imposed by Manager. 

 

	2.	Each Contractor shall be responsible for providing and maintaining its own first aid kit. 

  

	3.	Contractor shall ensure that proper working attire is worn at all times Contractor’s workmen are on site. 

  

	4.	Contractor must comply with all applicable EPA and OSHA guidelines concerning asbestos. Proper training consistent with OSHA regulations is required prior to project commencement. 

 

	5.	Contractor must comply with all federal, state and local codes pertaining to hazardous materials. Contractor must supply appropriate documentation including but not limited to Material Safety Data Sheets covering
materials used on this job. All hazardous and toxic materials must be stored in original containers with D.O.T. approved labels in a location specified by building management. Manager reserves the right to restrict and/or deny the presence of toxic
or flammable materials in the building. Information relative to any toxic or flammable materials shall be provided to Manager before such materials are brought into the building. 

  
  

Page 8 of 10 
 CBRE Asset Services

 1630 S. Stapley Drive, Suite 212, Mesa, AZ 85204 

480-507-1802 Phone ¡ Fax 480-507-1805 

  
 GAINEY
CENTER II/TPI COMPOSITES, INC. 
 Page 31 

 GAINEY CENTER II 

 
  

	6.	AT NO TIME SHALL CONTRACTORS EMPLOY METHODS TO PREVENT STAIRWELL DOORS FROM CLOSING AND LATCHING. THIS IS A CODE VIOLATION THAT WOULD SEVERELY IMPACT THE PRESSURIZATION ASPECT OF THE BUILDING’S FIRE SAFETY
SYSTEM DURING AN EMERGENCY. 

 Damage Prevention 
  

	1.	Contractors are only permitted access to the specific floors on which they are working. All oilier areas are considered off limits. 

  

	2.	Any access required into a finished area shall be coordinated by the Contractor through Manager. The Contractor shall then assume complete responsibility for the area and shall bear all costs for repair or new of
existing work. 

  

	3.	Contractors doing work on an occupied floor are required to protect all finished floors and walls as necessary, but with a minimum 6 mil. Visqueen until all major deliveries have been received and all drywall work is
completed. Repairs for any associated damage shall be the responsibility of the Contractor. 

  

	4.	Each Contractor will be responsible for properly protecting and safeguarding its work. The Manager shall not in any way be held liable for damage or loss to Contractor’s work. Damage shall, however, be paid for by
the damaging contractor as determined solely by Manager. 

  

	5.	Any damage to existing base building work shall be the responsibility of the damaging contractor as determined by Manager. 

  

	6.	Janitor closet(s) shall become the Contractor’s responsibility upon start-up of work. Upon completion of work, Manager shall inspect the janitor closet(s) and, if necessary, may complete clean-up, routing,
repainting, etc. Associated costs shall be forwarded to the Contractor. Janitor closets, electrical closets, and telephone rooms shall not be used for storage at any time. 

 

	7.	Manager shall have sole determination with respect to the appropriate incidental charges (i.e., damage or non-compliance charges) allocated to Contractor. 

Other 
  

	1.	Manager may inspect construction areas at any time, and stop work if Contractor is not in compliance with these rules and/or not performing work in accordance with plans and specifications approved by Manager. Such work
stoppage shall not relieve Contractor of its responsibility for timely completion of work pursuant to any contractual agreement. 

  
  

Page 9 of 10 
 CBRE Asset Services

 1630 S. Stapley Drive, Suite 212, Mesa, AZ 85204 

480-507-1802 Phone ¡ Fax 480-507-1805 

  
 GAINEY
CENTER II/TPI COMPOSITES, INC. 
 Page 32 

 GAINEY CENTER II 

 
  

	2.	Since there is inadequate room on site for dumpsters, Contractor must arrange for removing trash from the building. Hauling must be scheduled after-hours. 

 

	3.	Contractors and subcontractors shall be responsible for providing all necessary tools and equipment to perform the work. 

  

	4.	Manager does not provide for the Contractor’s security at the job site. Security shall be the responsibility of the Contractor. Manager must be provided two (2) master keys for each “lock-off” area under
the control of a Contractor. 

  

	5.	Provisions for Contractor’s job site telephones shall be Contractor’s responsibility. 

  

	6.	No build-out materials are to be taken from Manager’s stock unless Contractor has obtained prior written approval to use such materials (in specified quantities) from Manager, to the extent that Manager has any
stock available. A complete list of requested materials is needed and 24 hours’ notice required prior to pick-up. 

  

	7.	At the completion of the job, deliver any warranty information, as-built drawings, air balance reports, and a copy of the Certificate of Compliance to the CBRE Management office.

  

	8.	Contractors, subcontractors and suppliers shall be responsible for submitting lien releases at the time final payment is made. If such lien releases are received by a tenant, they shall be forwarded to Manager.

  

	9.	Where a Contractor is engaged directly by a tenant, all references to “Manager” herein shall be considered “Landlord.” The tenant is responsible for the performance of the Contractor, their
subcontractors, workmen and suppliers, as well as any expenses incurred by the Contractor from Manager. No work shall commence without Manager’s advance written approval of plans. Any relative action detrimental to the building and/or its
tenants shall become the sole responsibility of that tenant. 

  

	10.	NO RADIOS, television sets, or recorded music will be allowed on the construction site (headsets may be used). 

  

	11.	Regulations supplemental to those above may be incorporated as part of these Construction Rules if deemed appropriate by Manager. 

  

	12.	Gainey Center II is certified LEED Gold. We ask that during construction you use sustainability and recycling practices. 

  
  

Page 10 of 10 
 CBRE Asset Services

 1630 S. Stapley Drive, Suite 212, Mesa, AZ 85204 

480-507-1802 Phone ¡ Fax 480-507-1805 

  
 GAINEY
CENTER II/TPI COMPOSITES, INC. 
 Page 33EX-10.16

 Exhibit 10.16 

LEASE AGREEMENT 
 THIS INSTRUMENT, DATED AS OF
December 1, 2008 is a one (1) year lease agreement between BORDEN & REMINGTON FALL RIVER LLC hereinafter referred to as “Landlord”, a Massachusetts limited liability company, with a mailing address of 63 Water Street,
Fall River, Massachusetts 02721 and TPI COMPOSITES, INC. hereinafter referred to as “Tenant”, a Delaware corporation, with a mailing address of 373 Market Street, Warren, RI 02885. 

 

					
	1.	 	PREMISES	  	Landlord hereby leases to Tenant and Tenant hereby leases from Landlord, approximately 45,000 square feet on the first floor (the “Premises”) of the building known as Building #2 in the complex shown on the plan attached
hereto as Exhibit A and incorporated herein, upon and subject to the terms and conditions of this Agreement.
			
		 		  	Tenant acknowledges that it has inspected the Premises and accepts same in its “as is” condition with the exception of the garage door on the north said of the building. Landlord agrees to install at Tenant’s expense,
a 20 foot by 16 foot garage door in a position to be agreed upon by both Landlord and Tenant. Upon completion of this installation, Landlord will present Tenant with the installation, Landlord will present Tenant with the installation
invoice.
			
	2.	 	TERM:	  	This Agreement shall be a ONE (1) YEAR LEASE AGREEMENT commencing on December 15, 2008 provided that Landlord shall have the right to terminate this Agreement immediately upon written notice equal to but not less than ten (10)
business days to Tenant upon Tenant’s failure to pay rent, as hereinafter required, or as a result of Tenant’s failure to perform any of its other obligations hereunder.
			
		 		  	At the expiration of this lease, tenants may occupy Premises on a TENANCY AT WILL month to month basis with either party being able to terminate this Agreement as of the first day of any calendar month (the “Termination
Date”) by giving the other party written notice of such election not later than sixty (60) days before the Termination Date, which date shall be stated in such notice.
			
		 		  	If after the expiration of the initial twelve month period of this Lease Agreement, Landlord has the opportunity to lease this space in Building #2 at a rate higher than
is

					
		 		  	currently being paid and for a term greater than one year, Landlord will present Tenant with the option to meet the higher rate and longer term. Should Tenant decide not to accept this option, Landlord will provide Tenant the option
of leasing similar space in one of Landlord’s other buildings within the premises.
			
		 		  	Upon expiration of this initial twelve (12) month lease, and the inception of the Tenancy-at-Will agreement, Tenant understands and agrees that on each subsequent December 1st
that Tenant remains in possession of the premises, the rent will increase by four (4%) percent from the prior year’s rent.
			
	3.	 	RENT	  	Tenant shall pay to the Landlord rent at the rate of $3,750.00 per month, in advance, without offset or demand, and proportionately at such rate for any partial month. Such rent shall be due on the 1st day of each month. Any payment hereunder nit paid when due shall bear interest for each month or fraction thereof from the due date until paid in full at the annual rate of five (5) percentage
points over the so-called prime rate charged from time to time by Bank of America, or its successor national bank, or at any applicable lesser maximum legally permissible rate for debts of this nature.
			
	4.	 	SECURITY DEPOSIT	  	Upon the execution of this Agreement, the Tenant shall pay to the Landlord the amount of $3,750.00 which shall be Held without interest as a security for the Tenant’s Performance as herein provided and shall be refunded to
Tenant at the end of this Agreement subject to the Satisfactory compliance with the condition hereof.
			
	5.	 	USE	  	Tenant shall use the Premises only for the purpose of storing plugs and molds.
			
		 		  	If at any time the Tenant should desire to change the use of the Premises, this agreement will need to be replaced with a new agreement covering the planned use.
			
		 		  	Tenant shall obtain all permits, licenses and approvals Required for its use of the Premises and shall keep the Premises equipped as required by law. Tenant shall not permit any use of the Premises which will make voidable any
insurance on the property of which the Premises are a part, or on the contents of said property or which shall be

  
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		 		  	contrary to any law or regulation from time to time established by the New England Fire Insurance Rating Association, or any similar body succeeding to its powers. Tenant shall comply with the Landlord’s reasonable rules and
regulations.
			
	6.	 	COMPLIANCE WITH LAWS	  	Tenant acknowledges that no trade or occupation shall be conducted in the Premises or use made thereof which will be unlawful, improper, noisy or offensive, or contrary to any law or municipal
by-law or ordinance in force in the town in which the Premises are situated. Tenant shall be responsible at its sole cost and expense for complying with (and keeping the Premises in compliance with) all legal
requirements which are applicable to Tenant’s particular use or occupancy of the Premises.
			
	7.	 	MAINTENANCE	  	Tenant agrees to maintain the Premises in good condition, reasonable wear and tear and damage by fire and other casualty only excepted. Tenant shall not permit the premises to be overloaded, damaged, stripped or defaced, nor suffer
any waste.
			
	8.	 	ALTERATION ADDITION	  	Tenant shall not make any alterations or additions to the Premises without the prior written consent of Landlord which may be withheld at Landlord’s sole discretion or granted upon such conditions as Landlord may determine. Any
alterations or improvements made by the Tenant shall become the property of the Landlord at the termination of occupancy as provided herein, unless Landlord requires the removal thereof in which event Tenant shall forthwith remove same and repair
any damage caused by such removal.
			
	9.	 	ASSIGNMENT/ SUBLEASING	  	Tenant shall not, without Landlord’s written consent, which consent may be withheld in Landlord’s sole discretion, assign, sublet, mortgage, license, transfer or encumber this Agreement or the Premises in whole or in part
whether by changes in the ownership or control of Tenant, or any direct or indirect owner of Tenant, whether at one time or at intervals, by sale or transfer of stock, partnership or beneficial interests, operation of law or otherwise.
			
	10.	 	INDEMNITY	  	Tenant shall defend with counsel reasonably acceptable to Landlord, save harmless and indemnify Landlord (which

  
 3 

					
		 		  	term for the purposes of this paragraph, shall include the directors, officers, agents and employees of the Landlord) from any liability for death, injury, loss, accident or damage to any person or property, as the case may be, and
from any claims, actions, proceedings and expenses and costs in connection therewith (including, without limitation, reasonable counsel fees): (i) arising from the omission, fault, willful act, negligence or other misconduct of Tenant, including its
invitees, officers, directors or employees. Tenant is legally responsible for or from any use made or thing done resulting from any release of hazardous materials by any such party on the Premises, the Building or the Complex that is not due to the
omission, fault, willful act, negligence or other misconduct of the Landlord, or (ii) resulting from the failure of the Tenant to perform and discharge its covenants and obligations under this Agreement.
			
	11.	 	TENANT’S INSURANCE	  	Tenant shall procure, pay for and keep in force throughout the term of the Agreement (and for so long thereafter as Tenant remains in occupancy of any portion of the Premises) commercial general liability insurance insuring Tenant
on an occurrence basis against all claims and demands for personal injury liability (including, without limitation, bodily injury, sickness, disease and death) or damage to property which may be claimed to have occurred from and after the time
Tenant and/or Tenant’s agents, servants, employees, consultants, contractors, subcontractors, licensees and/or subtenants shall first enter the Premises, of not less than Three Million ($3,000,000) Dollars, and from time to time thereafter
shall be not less than such higher amounts, if procurable, as may be reasonably required by Landlord. Such policy shall also include contractual liability coverage covering Tenant’s liability assumed under this Agreement.
			
		 		  	Tenant shall procure, pay for and keep in force throughout The term of the Agreement (and for so long hereafter as Tenant remains in occupancy of any portion of the Premises), a policy of fire, vandalism, malicious mischief,
extended coverage and so-called “all risk” coverage insurance in an amount equal to one hundred (100%) percent of the replacement cost insuring Tenant’s furniture, equipment, fixtures and property of every kind, nature and
description, which may be in or upon the Premises or the

  
 4 

					
		 		  	building of which the Premises are a part.
			
		 		  	The insurance required pursuant to Section 11 shall be affected with responsible companies qualified to do business in Massachusetts and in good standing and authorized to do business in the Commonwealth of Massachusetts under valid
and enforceable policies. All policies required to be carried by Tenant under the Agreement shall each provide that it shall not be cancelled or modified without at least thirty (30) days prior written notice to each insured named therein. On or
before the date on which Tenant first enters the Premises and thereafter not less than fifteen (15) days prior to the expiration date of each expiring policy, Tenant shall deliver to Landlord binders of Tenant’s insurance policies issued by the
respective insurers setting forth in full the provisions thereof together with evidence satisfactory to Landlord of the payment of all premiums for such policies. In the event of any claim and upon Landlord’s request, Tenant shall deliver to
Landlord complete copies of Tenant’s insurance policies. Upon request of Landlord, Tenant shall deliver to any Mortgagee copies of the foregoing documents.
			
	12	 	LANDLORD’S EXPENSES	  	Tenant shall pay all expenses incurred by Landlord, including without limitation, reasonable attorneys’ fees, in enforcing any obligation of Tenant or any remedies of Landlord hereunder or in recovering the Premises, provided
Landlord prevails in such enforcement, remedies or recovery with or without resort to litigation, by reason of any act, omission or negligence of Tenant or its employees, or any subtenant, assignees, licensees, concessionaires, officers, directors,
patrons, invitees, agents or contractors retained by Tenant.
			
	13.	 	SURRENDER/ HOLDOVER	  	Tenant shall, at the expiration or other termination of this Agreement, remove all Tenant’s goods and effects from the Premises. Tenant shall deliver to the Landlord the Premises and all keys, locks thereto ad other fixtures
connected therewith and all alterations and additions made to or upon the Premises, in good condition, damage by fire or other casualty only excepted. In the event of the Tenant’s failure to remove any of Tenant’s property from the
premises, Landlord is hereby authorized, without liability to Tenant for loss or damage thereto, and at the sole risk of Tenant, to remove and store any of the property

  
 5 

					
		 		  	at Tenant’s expense, or to retain same under Landlord’s control or to sell at public or private sale, any or all of the property not so removed and to apply the net proceeds of such sale to the payment of any sum due
hereunder, or to destroy such property.
			
	14.	 	MORTGAGE RIGHTS	  	Tenant’s rights and interests under this Agreement shall be (i) subject and subordinate to any existing or future mortgages, deeds of trust, over leases or similar instruments covering the premises, and to all advances,
modifications, renewals, replacements and extensions thereof; or (ii) if any Mortgagee elects, prior to the lien of any present or future mortgage.
			
	15.	 	HAZARDOUS MATERIALS	  	 Tenant shall not, without prior written consent of Landlord, which may be withheld in Landlord’s sole discretion, bring or permit to be
brought or kept in or on the Premises or elsewhere in the Building (i) any inflammable, combustible or explosive fluid, material, chemical or substance (except for reasonable quantities of standard office supplies and cleaning materials stored in
proper containers); or (ii) any hazardous, radioactive or toxic substance, material or waste or petroleum derivative which is or becomes regulated by any Environmental law (each of the foregoing, a “Hazardous Material”). The term
“Hazardous Material” includes, without limitation, any material or substance which is: (i) designated as a “hazardous waste” pursuant to Section 1311 of the Federal Water Pollution Control Act (33 U.S.C. Section 1317); (ii)
defined as a “hazardous waste” pursuant to Section 1004 of the Federal Resource Conservation and Recovery Act, 42 U.S.C. Section 6901 et seq. (42 U.S.C. Section 9603); or (iii) defined as “hazardous substance” pursuant to Section
101 of the Comprehensive Environmental Response, Compensation and Liability Act, 42 U.S.C Section 9601 et seq. (42 U.S.C. Section 9601); or
 (iv)
defined as ‘hazardous substance” or “oil” under Chapter 21E of the General Laws of the Commonwealth of Massachusetts. Landlord shall have the right, from time to time, to inspect the Premises for compliance with the terms of
Section 16 at Tenant’s sole cost and expense.

			
		 		  	Tenant at its sole cost and expense, shall comply with (i) all laws, statutes, ordinances, rules, ordinances, rules and regulations of any local, state or federal
governmental

  
 6 

					
		 		  	authority having jurisdiction concerning environmental, health and safety matters, including, without limitation, the laws listed above, and further including, but not limited to any discharge by any of the Tenant parties into the
air, surface, water, sewers, soil or groundwater of any Hazardous Material, whether within or outside the Premises or Building; and (ii) any rules, requirements and safety procedures of the Massachusetts Department of Environmental Protection, the
City of Fall River Fire Marshall and any insurer of the Building or the Premises with respect to Tenant’s use, storage and disposal of any Hazardous Materials.
			
	16.	 	LIMITATION	  	Tenant shall neither assert nor seek to enforce any claim against Landlord or any of the Landlord Parties, or the assets of any of the Landlord Parties, for breach of this Agreement or otherwise, other than for matters arising out
of or from Landlord’s ownership interest in the Building and in the uncollected rents, issues and profits thereof, and Tenant agrees to look solely to such interest for the satisfaction of any liability of Landlord under this Agreement. This
Section 16 shall not limit any right that Tenant might otherwise have to obtain injunctive relief against Landlord. Landlord and Tenant specifically agree that in no event shall Landlord or any of the Landlord Parties ever be personally liable
for any obligation under this Agreement. In no event shall Landlord’s agents, owners, members or employees ever be liable for consequential or incidental damages or for lost profits.
			
	17.	 	BROKER	  	Tenant warrants and represents to Landlord that Tenant has dealt with no broker in connection with this Agreement and agrees to indemnify Landlord against any claims for Commissions in connection
herewith.

  
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		 		  	River Fire Marshall and any insurer of the Building or the Premises with respect to Tenant’s use, storage and disposal of any Hazardous Materials.
			
	17.	 	LIMITATION OF LIABILITY:	  	Tenant shall neither assert nor seek to enforce any claim against Landlord or any of the Landlord Parties, or the assets of any of the Landlord Parties, for breach of this Agreement or otherwise, other than for matters arising out
of or from Landlord’s ownership interest in the Building and in the uncollected rents, issues and profits thereof, and Tenant agrees to look solely to such interest for the satisfaction of any liability of Landlord under this Agreement. This
Section 18 shall not limit any right that Tenant might otherwise have to obtain injunctive relief against Landlord. Landlord and Tenant specifically agree that in no event shall Landlord or any of the Landlord Parties ever be personally liable
for any obligation under this Agreement. In no event shall Landlord’s agents, owners, members or employees ever be liable for consequential or incidental damages or for lost profits.
			
	19.	 	BROKER:	  	Tenant warrants and represents to Landlord that Tenant has dealt with no broker in connection with this Agreement and agrees to indemnify Landlord against any claims for commissions in connection herewith.

 IN WITNESS whereof, the parties have executed this instrument under seal as of the date first set forth. 

 

							
	WITNESS:	 		 	Landlord
			
		 		 	Borden & Remington Fall River LLC
				
	  
	 		 	By:	 	 /s/ Robert F. Bogan

		 		 		 	Robert F. Bogan, President
			
	WITNESS	 		 	Tenant
			
		 		 	TPI Composites, Inc.
				
	 /s/ Ed da Silva
	 		 	By:	 	 /s/ Robert M. Wind

		 		 		 	Robert M. Wind

 STANDARD INDUSTRIAL LEASE 

1. BASIC LEASE PROVISIONS. 

 

	 	1.1	DATE: June 28, 2010 

  

	 	1.2	LANDLORD: Borden & Remington Fall River LLC, a Delaware limited liability company 

 

	 	1.3	TENANT: TPI, Inc., a Delaware corporation 

  

	 	1.4	PREMISES ADDRESS: 63 Water Street, Fall River, Massachusetts (being Building No.2 as shown on Exhibit A) 

 

	 	1.5	APPROXIMATE LEASABLE AREA OF PREMISES: 70,000 leasable square feet comprising all of Building 2, as shown on
Exhibit A 

  

	 	1.6	USE: For the manufacture, storage and testing (within the Building) of wind blades and such other industrial uses as are permitted under applicable zoning, subject to the
requirements and limitations contained in Section 4 

  

	 	1.7	TERM: Sixty (60) months following the Commencement Date plus the partial month in which the Commencement Date occurs (the “Initial Term Expiration Date”)

  

	 	1.8	COMMENCEMENT DATE: As determined pursuant to Section 3.1 

  

	 	1.9	MONTHLY BASE RENT: $385,000 per year (computed on the basis of $5.50 per square foot of the Premises), payable monthly at the rate of $32,083.33
per month 

  

	 	1.10	BASE RENT PAID UPON EXECUTION: $32,083.33 for the first full month of the Term of this Lease 

 

	 	1.11	OUTDOOR STORAGE AREA: Approximately 59,000 square feet of area as shown on Exhibit A (see Section 2.2) 

 

	 	1.12	OUTDOOR STORAGE AREA RENT: $106,200 per year (computed on the basis of $1.80 per square foot of the Outdoor Storage Area) payable
monthly at the rate of $8,850.00 per month (see Section 2.2) 

  

	 	1.13	LANDLORD’S WORK: As described in Exhibit B. 

  

	 	1.14	GUARANTOR: None 

	 	1.15	SECURITY DEPOSIT: None 

  

	 	1.16	NUMBER OF PARKING SPACES: 50 (See Section 2.1) 

 

	 	1.17	REAL ESTATE BROKER: None 

  

	 	1.18	EXHIBITS ATTACHED TO AND INCORPORATED INTO THIS LEASE:

  

			
	Exhibit A		“Site Plan”
	Exhibit B		“Description of Landlord and Tenant Work”
	Exhibit C		“Rules and Regulations”
	Exhibit D		“Form of HazMat Certificate”
	Exhibit E		“Determination of Fair Market Rent”
	Exhibit F		“Form of Confidentiality Agreement”

  

	 	1.19	ADDRESSES FOR NOTICES: 

  

			
	LANDLORD:		 Borden & Remington Fall River LLC
 63 Water
Street
 Fall River, Massachusetts 02722

		
	WITH A COPY TO:		 Goulston & Storrs, P.C.
 400 Atlantic
Avenue
 Boston, MA 02110
 Attn: Daniel Sullivan,
Esq.

		
	TENANT:		 TPI, Inc.
 373 Market Street

Warren, Rhode Island 02885-0367
 Attn: Mr. Ed DaSilva

Vice President and General Manager

  

	 	1.20	TENANT’S WORK As described in Exhibit B 

2. PREMISES. 

2.1 ACCEPTANCE. Landlord leases to Tenant, and Tenant leases from Landlord, the Premises, to have
and to hold for the term of this Lease, subject to the terms, covenants and conditions of this Lease. The Premises is the entire leasable square footage of the building (the “Building”) shown as Building No. 2 on the site plan
attached hereto as Exhibit A. Tenant accepts the Premises in its condition as of the Commencement Date, subject to all applicable laws, ordinances, regulations, covenants, conditions, restrictions and easements; and, except as may be
otherwise expressly provided herein with respect to Landlord’s Work and repairs to be made during the term hereof by Landlord, Landlord shall not be obligated to make (or reimburse Tenant for) any improvements, or any repairs or alterations to
the Premises. 

  
 - 2 - 

 Tenant acknowledges that Landlord has made no representation or warranty as to the suitability of
the Premises for the conduct of Tenant’s business, and Tenant waives any implied warranty that the Premises are suitable for Tenant’s intended purposes, except that Landlord represents that as of the date hereof, the Premises may lawfully
be used for the manufacture, storage and testing of wind blades and the Outdoor Storage Area may lawfully be used for outdoor storage purposes and that the Premises are not subject to any ground lease. The number of square feet set forth in
Section 1.5 is an approximation, and the Base Rent shall not be changed if the actual number of square feet in the Premises is different than the number of square feet set forth in Section 1.5. As appurtenant to the Premises, Tenant shall
have the exclusive right to use 50 parking spaces in the area shown on Exhibit A (the “Parking Area”) for use by its employees, contractors and invitees. Tenant may elect to use from time to time all or a portion of the
Parking Area for the temporary storage of prototype wind blades not to exceed thirty (30) days for each occurrence. If portions of the Parking Area are being used for temporary storage of wind blades, Landlord will accommodate Tenant by
providing parking spaces elsewhere in the Project in the area shown on Exhibit A as Parking Area B. Landlord agrees to maintain the Parking Area and/or Parking Area B and all driveways necessary for ingress and egress in serviceable condition for
the parking of cars and to be responsible for snowplowing the Parking Area. 
 2.2 OUTDOOR STORAGE
AREA. As appurtenant to the Premises, Tenant shall have the option to use the Outdoor Storage Area that will be constructed by Landlord pursuant to this option in the area shown on Exhibit A as
“Outdoor Storage Area”, subject to the following: 
  

	 	(i)	Tenant shall give Landlord at least twelve (12) month’s prior notice of the date on which Tenant intends to commence use of the Outdoor Storage Area (the “OSA Notice”). 

 

	 	(ii)	The giving of the OSA Notice shall constitute Tenant’s irrevocable agreement to extend the initial term of the Lease for a period of three (3) years from the Outdoor Storage Area Commencement Date (the
“OSA Extension Period”) on all the same terms and conditions as set forth in this Lease except that (a) rent for the Outdoor Storage Area shall be as set forth in Section 1.12 above commencing as of the Outdoor Storage
Area Commencement Date, and (b) Base Rent for Premises for the OSA Extension Period shall be at the rate set forth in Section 1.9 until the Initial Term Expiration Date, and thereafter shall be the Option Rent (as defined in
Section 27). 

  

	 	(iii)	 Promptly following receipt of the OSA Notice, Landlord shall perform the work described on Exhibit B (the “Outdoor Storage Area
Work”) at its sole cost and expense not later than twelve (12) months following receipt of Tenant’s OSA Notice. If the Outdoor Storage Area Work is not substantially completed within thirteen (13) months, Tenant may elect to either
terminate its lease of the Outdoor Storage Area, or find alternative storage space outside the Premises until the Outdoor Storage Area Work is completed, for which Landlord agrees to reimburse Tenant for its reasonable costs and expenses. The
Outdoor Storage Area Work 

  
 - 3 - 

	 	
shall be performed in a good and workmanlike manner and in compliance with all applicable Laws. 

  

	 	(iv)	The Outdoor Storage Area Work shall be deemed to have been substantially completed on the date Landlord or Landlord’s engineer provides a certificate to Tenant to the effect that the Outdoor Storage Area Work is
substantially complete in such fashion as to enable Tenant to lawfully use the Outdoor Storage Area for its intended use. Upon substantial completion, Landlord and Tenant shall jointly review the Outdoor Storage Area Work and identify any punch list
items. Any punch list items shall be corrected by Landlord within thirty (30) days from the Outdoor Storage Area Commencement Date. 

  

	 	(v)	The “Outdoor Storage Area Commencement Date” shall be that date which is three (3) business days following delivery of Landlord’s substantial completion certificate to Tenant of the Outdoor
Storage Area Work. Landlord and Tenant agree to enter into an agreement confirming the Outdoor Storage Area Commencement Date and the expiration of the term of this Lease. 

 

	 	(vi)	Tenant shall have the exclusive right to use the Outdoor Storage Area, subject to the provisions of Section 2.3 with respect to the Dock. 

 

	 	(vii)	The Outdoor Storage Area shall be used solely for the purpose of storing Tenant’s wind blades and providing dock access to Mount Hope Bay for barge loading of Tenant’s wind blades. In no event shall Tenant be
permitted to erect towers or any other structure or building on the Outdoor Storage Area. 

 2.3
DOCKS. There currently exists in the Project a dock providing access to Mount Hope Bay (the “Existing Dock”) and included as part of the Outdoor Storage Area there is intended to be
constructed another dock providing access to Mount Hope Bay (the “New Dock”) as shown on Exhibit A. The Existing Dock and the New Dock are collectively referred to as the “Docks”. Notwithstanding any contrary
provision of this Lease, Tenant acknowledges that its use of the Docks shall not be exclusive and that Landlord and other tenants of the Project shall have rights to use the Docks. Landlord shall be responsible for coordinating use of the Docks but
shall give Tenant priority over other users for the New Dock. Tenant shall give Landlord at least seven (7) days advance notice of the times and duration that Tenant needs the Docks. Tenant shall use the Docks solely in connection with the
conduct of its business in the Premises and shall have no right to permit any other person to use the Docks for any other purpose. Recognizing that the Docks are intended to be shared, Tenant shall not have any boat or barge tied to either Dock for
longer than reasonably necessary to load Tenant’s wind blades. Use of the Docks shall be subject to such rules and regulations as Landlord may reasonably impose on Tenant and other tenants of the Project using the Docks. Landlord agrees to
assist Tenant in getting access to the Docks, but without cost or expense to Landlord 
 2.4 COMMON
AREAS. Landlord hereby grants to Tenant for the benefit of Tenant and its employees, suppliers, shippers, customers and invitees during the term of this Lease, the

  
 - 4 - 

 
nonexclusive right to use, in common with others entitled to such use (including Landlord), the Common Areas (as hereinafter defined) as they exist from time to time, subject to all rights
reserved by Landlord hereunder and under the terms of all rules and regulations promulgated by Landlord from time to time with respect thereto. As used herein, the term “Common Areas” means all areas and facilities outside the
Premises and within the exterior boundary lines of the land owned by Landlord that are provided and designated by Landlord as such from time to time for general nonexclusive use of Tenant and others, including, if designated by Landlord as Common
Areas, parking areas, loading and unloading areas, trash areas, roadways, sidewalks, walkways, parkways and landscaped areas. The “Project” includes, without limitation, the Premises, the Building, the Common Areas, the land upon which the
same are located, along with all other buildings and improvements thereon, as shown on the Site Plan attached as Exhibit A. Under no circumstances shall the right herein granted to use the Common Areas be deemed to include the right to
store any property, temporarily or permanently, in the Common Areas, including, without limitation, the storage of trucks or other vehicles. Except as otherwise expressly provided in this Lease, any such storage shall be permitted only by the prior
written consent of Landlord, which consent may be revoked at any time. In the event that any unauthorized storage shall occur then Landlord shall have the right, without notice, in addition to such other rights and remedies that it may have, to
remove the property and charge the cost to Tenant, which cost shall be payable upon demand by Landlord. 
 3.
TERM. 
 3.1 TERM AND COMMENCEMENT
DATE. The “Commencement Date” with respect to the Premises shall be that date which is three (3) business days following the date on which Landlord has substantially completed all of
Landlord’s Work as described in Exhibit B attached hereto with respect to the Building. Landlord’s Work shall be deemed to be substantially complete when Landlord’s Work is complete except for punch list items agreed to by
Landlord and Tenant and Landlord has received all governmental sign offs to enable Tenant to lawfully occupy the Premises for Tenant’s intended use. Upon substantial completion of Landlord’s Work, Landlord and Tenant shall jointly review
the Landlord’s Work and identify any punch list items. Any punch list items shall be corrected by Landlord within thirty (30) days from the Commencement Date. The Premises shall be delivered to Tenant with Landlord’s Work
substantially complete free of all tenants and occupants. Except for performance of Landlord’s Work, Tenant accepts the Premises strictly As Is. The Term and Commencement Date of this Lease are as specified in Sections 1.7 and 1.8. 

3.2. LANDLORD’S WORK. Landlord, at its sole cost and expense,
shall perform the items set forth on the attached Exhibit B (“Landlord’s Work”). Landlord shall commence Landlord’s Work promptly following the execution of this Lease and shall diligently prosecute such work
to completion in a good and workmanlike manner. Landlord shall use all reasonable efforts to complete Landlord’s Work within four (4) months from the date of execution of this Lease (the “Target Completion Date”). In order for
Tenant to open for business in the Building on or about the Target Completion Date, Tenant will be performing Tenant’s Work in the Building concurrently with the performance of Landlord’s Work. Landlord and Tenant will meet regularly
throughout the course of construction to coordinate schedules, delivery of materials and 

  
 - 5 - 

 
supplies and the overall timing of Landlord’s Work and Tenant’s Work. Each party agrees to work diligently and in good faith with the other to assure completion of Landlord’s Work
and Tenant’s Work by the Target Completion Date and to avoid interferences or delay in the work of the other party. Each party shall be responsible for obtaining a building permit for its work. 

Landlord’s Work shall be performed in compliance with all applicable laws, ordinances, rules, regulations, orders, building permits,
certificates of occupancy or other permits (collectively, “Laws”) and with all applicable covenants, conditions, restrictions and easements. 

In the event there is a defect in the design, workmanship or materials of any item of Landlord’s Work or the Outdoor Storage Area Work,
as applicable, including, without limitation, a defect in the design, workmanship or materials of the HVAC units installed by Landlord, Landlord shall correct such defect at its sole cost and expense provided notice of any such defect is given to
Landlord no later than the first anniversary of the Commencement Date or the Outdoor Storage Area Commencement Date, as applicable. 

In the event Landlord fails to complete Landlord’s Work within thirty (30) days following the Target Completion Date, except where
such failure is due to events of force majeure (as defined in Section 57) or the acts or omission of Tenant, its contractors, or their respective agents or employees, Tenant, as its sole remedy on account of such failure by Landlord, shall be
to undertake completion of Landlord’s Work. If Tenant so elects to complete Landlord’s Work, Landlord agrees to reimburse Tenant for the reasonable costs and expenses thus incurred by Tenant within thirty (30) days following
Tenant’s demand, accompanied by reasonably detailed back-up. In the event Landlord fails to pay the sums due to Tenant, Tenant shall have the right to deduct the amounts due, together with interest at the Interest Rate from the date due from
fifty percent (50%) of the installment(s) of Rent next due until Tenant has been reimbursed in full. 
 3.3
TENANT’S WORK. Except for Landlord’s Work, Tenant, at its sole cost and expense, shall perform all of Tenant’s Work set forth on Exhibit B and shall
equip the Premises with all furnishings, fixtures and equipment as are necessary for the operation of Tenant’s business. Provided that there is no interference with Landlord’s Work or the contractors performing Landlord’s Work, Tenant
shall have access to the Premises prior to the Commencement Date in order to perform Tenant’s Work. Prior to entry on to the Premises, Tenant shall provide evidence to Landlord that all insurance required to be carried by Tenant under this
Lease is in place. 
 4. USE. 

4.1 PERMITTED USE. The Premises shall be used only for the purpose described in
Section 1.6 and for no other purpose. In no event shall any portion of the Premises be used for retail sales. Tenant shall not initiate, submit an application for, or otherwise request, any land use approvals or entitlements with respect to the
Premises or any other portion of the Project, including, without limitation, any variance, conditional use permit or rezoning, without first obtaining Landlord’s prior written consent, which may be given or withheld in Landlord’s sole
discretion. Tenant shall not (a) permit any animals or pets to be brought to or kept in the 

  
 - 6 - 

 
Premises, (b) install any antenna, dish or other device on the roof of the Building or outside of the Premises, (c) make any penetrations into the roof of the Building, (d) place
loads upon floors, walls or ceilings in excess of the load such items were designed to carry, (e) place or store, nor permit any other person or entity to place or store, any property, equipment, materials, supplies or other items outside of
the Building except in the Outdoor Storage Area and the Parking Area, (f) change the exterior of the Premises or the Building in which the Premises is located, or (g) install or erect any tower or other structure in the Outdoor Storage
Area or the Parking Area. 
 4.2 COMPLIANCE WITH LAWS. Tenant
shall, at Tenant’s sole expense, promptly comply with all applicable Laws and the terms of any covenants, conditions, restrictions, or easements, of which Tenant has been notified in advance in writing by Landlord, and the reasonable
requirements of any fire insurance underwriters, rating bureaus or government agencies, now in effect or which may hereafter come into effect, whether or not they reflect a change in policy from that now existing, during the term or any part of the
term hereof, relating in any manner to the Premises or the occupation and use by Tenant of the Premises. Landlord represents and warrants to Tenant that any existing covenants, conditions, restrictions or easements affecting the Premises and the
Outdoor Storage Area do not prohibit or restrict the use of the Premises or the Outdoor Storage Area for the uses permitted under this Lease. During the Term, Landlord shall not enter into any agreement, covenant, condition, restriction or easement
which materially and adversely affects Tenant’s rights under this Lease, or increases Tenant’s obligations under this Lease, except in a de minimis way, without Tenant’s prior written consent, which consent Tenant may grant or deny in
its sole discretion. Except for items within the scope of Landlord’s Work, or Landlord’s repair obligations under this Lease, Tenant shall, at Tenant’s sole expense, comply with all requirements of the Americans With Disabilities Act
that relate to the Premises, and all federal, state and local laws and regulations governing occupational safety and health; provided, however, Tenant will not be required to make any
repairs or alterations to the Premises to comply with any such laws unless and to the extent such requirements are triggered solely by Tenant’s particular use of the Premises (as opposed to general industrial use) or any alterations performed
by Tenant. Tenant shall not permit or take any action that would constitute a nuisance or would disturb, unreasonably interfere with or endanger Landlord or any other tenants of the Project. Tenant shall obtain, at its sole expense, any permit or
other governmental authorization required to operate its business from the Premises. Landlord shall not be liable for the failure of any other tenant or person to abide by the requirements of this Section or to otherwise comply with applicable laws
and regulations, and Tenant shall not be excused from the performance of its obligations under this Lease due to such a failure. 
 If alterations to the
Building are required as a result of any Law which is adopted after the date of this Lease, Landlord shall perform such alterations, at its cost and expense, except if such alterations are required as a result of Tenant’s particular use of the
Building, as opposed to industrial use generally. 
 5. RENT. Tenant shall pay Base Rent and, if applicable,
Outdoor Storage Rent (collectively “Rent”) in the amounts set forth on the first page of this Lease. The Base Rent and the Outdoor Storage Rent shall be gross rent inclusive of all other expenses of operating the Premises and
Outdoor Storage Area except as expressly set forth in this Lease. The first month’s Base Rent, 

  
 - 7 - 

 
shall be due and payable on the date this Lease is executed by Tenant, and Tenant promises to pay to Landlord in advance, without demand, deduction or set-off, monthly installments of Base Rent
on or before the first day of each calendar month succeeding the Commencement Date. Payments of Outdoor Storage Area Rent shall not commence to accrue until the Outdoor Storage Area
Commencement Date and shall be payable monthly together with payments of Base Rent under this Lease. Payments of Rent for any fractional calendar month shall be prorated. All payments required to be made by Tenant to Landlord hereunder shall be
payable at such address as Landlord may specify from time to time by written notice delivered in accordance herewith. Tenant shall have no right at any time to abate, reduce, or set off any rent due hereunder except where expressly provided in this
Lease. 
 6. INTENTIONALLY OMITTED. 
 7.
UTILITIES. 
 7.1 PAYMENT. Tenant shall pay for all
water, gas, electricity, telephone, sewer, sprinkler services, refuse and trash collection and other utilities and services used on the Premises, together with any taxes, penalties, surcharges or the like pertaining thereto. Tenant shall contract
directly with the applicable public utility for such services. As of the date of Commencement of this Lease, gas and electric service to the Premises are separately metered. Tenant shall pay its share of all charges for jointly metered utilities
based upon consumption, as reasonably determined by Landlord. Tenant agrees to limit use of water and sewer for normal restroom use, and nothing herein contained shall impose upon Landlord any duty to provide sewer or water usage for other than
normal restroom usage. 
 7.2 INTERRUPTIONS. 

(a) Tenant agrees that Landlord, except as otherwise provided in this Lease, shall not be liable to Tenant for its failure to furnish water,
gas, electricity, telephone, sewer, refuse and trash collection or any other utility services or building services when such failure is occasioned, in whole or in part, by repairs, replacements or improvements, by any strike, lockout or other labor
trouble, by inability to secure electricity, gas, water, telephone service or other utility at the Project, by any accident, casualty or event arising from any cause whatsoever, by act, negligence or default of Tenant or any other person or entity,
or by any other cause. Furthermore, Landlord shall not be liable under any circumstances for loss of property or for injury to, or interference with, Tenant’s business, including, without limitation, loss of profits, however occurring, through
or in connection with or incidental to a failure to furnish any such services or utilities. Landlord may comply with controls or guidelines promulgated by any governmental entity relating to the use or conservation of energy, water, gas, light or
electricity or the reduction of automobile or other emissions without creating any liability of Landlord to Tenant under this Lease. 
 (b)
Notwithstanding anything to the contrary in this Lease contained, if, as a result of the negligence or willful misconduct of Landlord, its agent, employees or contractors, or the failure of Landlord to perform its repair or other obligations under
this Lease, and not as a result of the fault or neglect of Tenant or Tenant’s agents, employees or contractors, or due to any cause 

  
 - 8 - 

 
beyond the reasonable control of Landlord, all or any substantial part of the Premises is rendered unusable or inaccessible for the conduct of Tenant’s business a period for
the Untenantability Period (as hereinafter defined), Base Rent shall thereafter be abated in proportion to the area of the Premises rendered untenantable until the day such condition is corrected. For the purposes hereof, the “Untenantability
Period” shall be defined as five (5) consecutive business days after Landlord’s receipt of written notice from Tenant of the condition causing untenantability in the Premises. 

8. PERSONAL PROPERTY TAXES. 

8.1 PERSONAL PROPERTY TAXES. Tenant shall pay prior to delinquency
all taxes assessed against and levied upon trade fixtures, furnishings, equipment and all other personal property of Tenant contained in the Premises or related to Tenant’s use of the Premises. If any of Tenant’s personal property shall be
assessed with Landlord’s real or personal property, Tenant shall pay to Landlord the taxes attributable to Tenant within ten (10) days after receipt of a written statement from Landlord setting forth the taxes applicable to Tenant’s
property. 
 9. INSURANCE. 

9.1 INSURANCE-TENANT. 

(a) Tenant shall obtain and keep in force during the term of this Lease a commercial general liability policy of insurance which protects
Tenant and Landlord (as an additional insured) against claims for bodily injury, personal injury and property damage based upon, involving or arising out of Tenant’s use, occupancy and maintenance of the Premises and all areas appurtenant
thereto. Such insurance shall be on an occurrence basis. Insurance shall not be in amounts less than the following 
 Commercial General
Liability 
 $1,000,000 Combined Single Limit per occurrence 

$1,000,000 Personal and Advertising injury liability 

$1,000,000 products and completed operations liability 

$5,000 medical payments 
 $300,000
fire damage legal liability 
 $2,000,000 General aggregate, applying per location 

Automobile Liability $1,000,000 Combined Single limit including hired and non owned automobiles 

Workers Compensation-Statutory 

Coverage B Employers Liability: 

$500,000 bodily injury by accident 

$500,000 bodily injury by disease, each employee 

$500,000 bodily injury by disease, policy aggregate 

USL&H if applicable 

  
 - 9 - 

 Umbrella Liability 

$5,000,000 each occurrence 

$5,000,000 aggregate 
 Such
policies shall include “Additional Insured-Managers and Landlords of Premises Endorsement” and contain the “Amendment of the Pollution Exclusion” for damage caused by heat, smoke or fumes from a hostile fire. The policy shall not
contain any cross-insured or intra- insured exclusion as between insured persons or organizations, but shall include coverage for liability assumed under this Lease as an “insured contract” for the performance of Tenant’s indemnity
obligations under this Lease. 
 (b) Tenant shall obtain and keep in force during the term property insurance. Said insurance shall be
written on a one hundred percent (100%) replacement cost basis on Tenant’s personal property, all tenant improvements installed at the Premises by Tenant, Tenant’s trade fixtures and other property. By way of example, and not
limitation, such policies shall provide protection against any peril included within the classifications “Special Forms” with no exclusion for damages caused by earthquake and flood. 

(c) Tenant shall, at all times during the term hereof, maintain in effect business interruption and extra expense insurance satisfactory to
Landlord, but in no event shall Landlord require Tenant to carry such coverage for an amount in excess of twelve (12) months of Rent under this Lease. 

9.2 INSURANCE-LANDLORD. 

(a) Landlord shall obtain and keep in force a policy of commercial general liability insurance with coverage against such risks and in such
amounts as Landlord deems reasonably (but in no event less than the coverage limited required to be carried by Tenant under this Lease) insuring Landlord against liability arising out of the ownership, operation and management of the Project. 

(b) Landlord shall also obtain and keep in force during the term of this Lease a policy or policies of insurance covering loss or damage to
the Project in the amount of not less than one hundred percent (100%) of the full replacement cost thereof, as determined by Landlord from time to time. The terms and conditions of said policies and the perils and risks covered thereby shall be
determined by Landlord, from time to time, in Landlord’s sole discretion. In addition, at Landlord’s option, Landlord shall obtain and keep in force, during the term of this Lease, a policy of rental interruption insurance, with loss
payable to Landlord. Tenant will not be named as an additional insured in any insurance policies carried by Landlord and shall have no right to any proceeds therefrom. The policies purchased by Landlord shall contain such deductibles as Landlord may
determine; provided, however, the waivers set forth in Section 9.4 shall apply to any deductible maintained by Landlord in excess of $100,000. Tenant shall pay at Tenant’s sole expense any increase in the property insurance premiums for
the Project over what 

  
 - 10 - 

 
was payable immediately prior to the increase to the extent the increase is specified by Landlord’s insurance carrier as being caused by the nature of Tenant’s occupancy, other than as
expressly permitted in this Lease or any act or omission of Landlord, including, Landlord’s Work or the improvements to the Outdoor Storage Area. 

9.3 INSURANCE POLICIES. Tenant shall deliver to Landlord copies of the insurance
certificates required under Section 9.1 on or before the Commencement Date of this Lease. Tenant’s insurance policies required under this Lease shall not be cancelable or subject to reduction of coverage or other modification except after
thirty (30) days prior written notice to Landlord. Tenant shall, at least thirty (30) days prior to the expiration of such policies, furnish Landlord with a renewal certificate thereof. Tenant’s insurance policies shall be issued by
insurance companies authorized to do business in the state in which the Project is located, and said companies shall maintain during the policy term a “General Policyholder’s Rating” of at least A- and a financial rating of at least
“Class V” as set forth in the most recent edition of “Best Insurance Reports.” All insurance obtained by Tenant shall be primary to and not contributory with any similar insurance carried by Landlord, whose insurance shall be
considered excess insurance only. Landlord and, at Landlord’s option, the holder of any mortgage or deed of trust encumbering the Project and any person or entity managing the Project on behalf of Landlord, shall be named as an additional
insured on all insurance policies Tenant is obligated to obtain by Section 9.1 above. Tenant’s insurance policies shall not include deductibles in excess of Fifty Thousand Dollars ($50,000.00). 

9.4 WAIVER OF SUBROGATION. Landlord waives any and all rights of
recovery against Tenant for or arising out of damage to, or destruction of, the Project to the extent that Landlord’s insurance policies then in force insure against such damage or destruction or would have insured against such damage or
destruction if Landlord had carried the insurance coverages required of Landlord under this Lease (whether or not the insurance Landlord is required to obtain by Section 9.1 is then in force and effect). Landlord shall cause the insurance
policies it obtains in accordance with this Section 9 to provide that the insurance company waives all right of recovery by subrogation against Tenant in connection with any liability or damage covered by Landlord’s insurance policies.
Landlord’s waiver shall not relieve Tenant from liability under Section 18 below except to the extent Landlord’s insurance company actually satisfies Tenant’s obligations under Section 18 in accordance with the requirements of Section
18 or is subject to the waiver set forth in this Section 9.4. Tenant waives any and all rights of recovery against Landlord, Landlord’s employees, agents and contractors for liability or damages if such liability or damage is covered by
Tenant’s insurance policies then in force or which would have been covered by the insurance policies Tenant is required to obtain by Section 9.1 (whether or not the insurance Tenant is required to obtain by Section 9.1 is then in force and
effect), whichever is broader. Tenant shall cause the insurance policies it obtains in accordance with this Section 9 to provide that the insurance company waives all right of recovery by subrogation against Landlord in connection with any liability
or damage covered by Tenant’s insurance policies. The parties hereto shall procure an appropriate clause in, or endorsement on, any fire or extended coverage insurance covering the Premises, the Project and personal property, fixtures and
equipment located thereon or therein, pursuant to which the insurance companies waive subrogation or consent to a waiver of right of recovery. 

  
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 9.5 COVERAGE. Landlord makes no representation to
Tenant that the limits or forms of coverage for Tenant specified above or approved by Landlord are adequate to insure Tenant’s property or Tenant’s obligations under this Lease, and the limits of any insurance carried by Tenant shall not
limit Tenant’s obligations or liability under any indemnity provision included in this Lease or under any other provision of this Lease. 
 10.
LANDLORD’S REPAIRS/ALTERATIONS. Landlord shall maintain, at Landlord’s expense, the roof and all structural elements of the Building in good condition
and repair during the term of this Lease. Landlord’s maintenance obligations shall also include maintaining any utility, plumbing or mechanical systems within the Premises but which do not exclusively serve the Premises. Tenant shall reimburse
Landlord for the cost of any maintenance, repair or replacement of the foregoing necessitated by Tenant’s alterations to the Premises, Tenant’s negligent or willful acts or omissions, or any breach of its obligations under this Lease.
Tenant, and not Landlord, shall be responsible for the repair and maintenance of windows, glass or plate glass, doors or overhead doors, special store fronts, dock bumpers, dock plates or levelers, or office entries. Tenant shall immediately give
Landlord written notice of any repair required by Landlord pursuant to this Section, after which Landlord shall have a reasonable time in which to complete the repair. Nothing contained in this Section shall be construed to obligate Landlord to seal
or otherwise maintain the surface of any foundation, floor or slab. Tenant shall immediately give Landlord written notice of any repair or maintenance required by Landlord pursuant to this Section, after which Landlord shall have a reasonable time
in which to complete such repair or maintenance. Subject to the provisions of Section 3.2, Landlord shall not be obligated to replace the HVAC units serving the Premises, but agrees to enforce all warranties on said units for Tenant’s
benefit. 
 11. TENANT’S REPAIRS. 

11.1 OBLIGATIONS OF TENANT. Tenant shall, at its sole cost and
expense, keep and maintain all parts of the Premises (except those listed as Landlord’s responsibility in Section 10 above) in good and sanitary condition, promptly making all necessary repairs and replacements, including but not limited to,
windows, glass and plate glass, doors, skylights, any special store front or office entry, walls and finish work, floors and floor coverings, heating and air conditioning systems, dock boards, bumpers, plates, seals, levelers and lights, plumbing
work and fixtures (including periodic backflow testing), electrical systems, lighting facilities and bulbs, alarm systems, fire detection systems within and exclusively serving the Premises, termite and pest extermination, tenant signage and regular
removal of trash and debris. Landlord shall have the right to reasonably approve the contractor Tenant shall use to make any repair or to perform any maintenance on the heating, ventilation and air conditioning systems (“HVAC”),
fire alarm systems or fire detection systems located at the Premises. If Tenant fails to keep the Premises in good condition and repair, and such failure is not corrected within ten (10) days after notice from Landlord, Landlord may, but shall not
be obligated to, make any necessary repairs. If Landlord makes such repairs, Landlord may bill Tenant for the reasonable out-of-pocket cost of the repairs as additional rent, and said additional rent shall be payable by Tenant within thirty

  
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(30) days after demand by Landlord. Tenant agrees, at its cost, to maintain a standard service contract for the HVAC system serving the Premises. 

11.2 TENANT’S RIGHT TO CURE
LANDLORD DEFAULT. If Landlord shall fail to perform services or repairs for which Landlord is responsible under this Lease (excluding any services or repairs which Landlord is unable to perform
due to an event of force majeure as defined in Section 57 or an act or omission of Tenant, its contractors, agents or employees, and Landlord shall fail to perform such services or repairs within thirty (30) days following Tenant’s
notice (or such longer period as is reasonable under the circumstances), and the repairs or services are of such a nature that the nonperformance thereof by the expiration of such time period shall materially adversely affect Tenant’s ability
to occupy and operate its business in the Premises, then Tenant may, after five (5) additional days’ prior written notice given to Landlord (and any mortgagee of which Tenant has been notified of the name and address) make such reasonable
repairs or perform such services, and Landlord shall reimburse Tenant for the reasonable cost thereof within thirty (30) days following Landlord’s receipt of invoices or other evidence reasonably substantiating Tenant’s payment of
such costs. In the event Landlord fails to reimburse Tenant as and within the time period provided above, and provided Tenant has afforded Landlord and Landlord’s mortgagee (of which Tenant has been notified of the name and address) all notices
and cure periods set forth herein prior to such action, then Tenant may deduct such sums, together with interest thereon at the Interest Rate from the date of expenditure until the date of reimbursement, from twenty-five percent (25%) of the
next installment(s) of monthly Base Rent until such sums due Tenant have been fully paid by Landlord or fully credited and accounted for. Tenant’s self-help rights in this Section 11.2 shall be limited to those repairs to the Building
which are necessary to protect the health or safety of Tenant and its employees, to protect Tenant’s personal property in the Building, or to conduct business in the Premises. 

12. ALTERATIONS AND SURRENDER. 

12.1 CONSENT OF LANDLORD. Tenant may make interior alterations to
the Premises, without Landlord’s consent provided Tenant gives Landlord prior notice of the nature and extent of the alterations and provided such alterations do not involve roof penetrations, and do not affect any structural element of the
Premises or any mechanical system which serves any other portion of the Project. All other alterations require Landlord’s prior written approval which may be withheld or conditioned in Landlord’s reasonable discretion. All alterations
performed by Tenant shall be performed in a good and workmanlike manner and in accordance with all applicable laws, including the Americans With Disabilities Act. Notwithstanding the foregoing, Landlord approves the alterations of Tenant described
on the attached Exhibit B. 
 12.2 MECHANICS LIENS. Tenant shall pay,
when due, all claims for labor or materials furnished or alleged to have been furnished to or for Tenant at or for use in the Premises. If any mechanic’s or materialmen’s lien is filed against the Premises or the Project, or any interest
therein, on account of work done by or on behalf of Tenant, Tenant shall promptly discharge same, and if Tenant fails to remove any such lien, within fifteen (15) days after demand from Landlord, Landlord shall have the right to do so at
Tenant’s expense including requiring Tenant to pay Landlord’s reasonable attorneys’ fees and costs in connection therewith. 

  
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 12.3 NOTICE. Tenant shall give Landlord not less than
ten (10) days’ advance written notice prior to the commencement of any work in the Premises by Tenant, and Landlord shall have the right to post notices of non-responsibility in or on the Premises or the Project. 

12.4 SURRENDER. On the last day of the term hereof, or on any sooner termination, Tenant shall
surrender the Premises to Landlord in the same condition as received, ordinary wear and tear and casualty damage, loss or damage by casualty or taking and repairs which Tenant is not responsible to perform under this Lease excepted, clean and free
of debris and Tenant’s personal property, trade fixtures and equipment and all alterations installed by Tenant which Landlord has instructed Tenant to remove, in writing at the time Landlord approves of such alteration. Notwithstanding anything
in this Lease to the contrary, Tenant shall not be required to remove any existing alterations or improvements, any of Landlord’s Work or any of the alterations identified on Exhibit B hereto. 

12.5 FAILURE OF TENANT TO REMOVE
PROPERTY. If this Lease is terminated due to the expiration of its term or otherwise, and Tenant fails to remove its property, in addition to any other remedies available to Landlord under this Lease, and
subject to any other right or remedy Landlord may have under applicable law, Landlord may remove any property of Tenant from the Premises and store the same elsewhere or may consider such property to be abandoned and sell or dispose of same, at the
expense and risk of Tenant. Notwithstanding the foregoing, if Tenant needs additional time past the expiration of the Term to remove its personal property, Tenant may have up to an additional sixty (60) days to remove its personal property from
the Premises provided Tenant continues to pay Base Rent during such period. No extension of the Term shall be created as a result of the foregoing. 
 13.
DAMAGE AND DESTRUCTION. 
 13.1
EFFECT OF DAMAGE OR DESTRUCTION. If all or any material part of the Building is destroyed or damaged and Landlord reasonably estimates that such
damage cannot reasonably be restored within twelve (12) months following the date when restoration would commence, Landlord or Tenant shall have the right, in its sole and complete discretion to terminate this Lease by notice to the other party
given within sixty (60) days after the discovery of such damage or destruction. Tenant shall in no event be entitled to compensation or damages on account of annoyance or inconvenience in making any repairs, or on account of construction
resulting from such casualty, or on account of Landlord’s election to terminate this Lease. If Landlord elects to restore the Building it shall pursue reconstruction or restoration diligently to completion. If Landlord is unable to repair the
damage to the Building within 360 days following the date of casualty, subject to delays caused by events of force majeure, as defined in Section 57, Tenant shall have the right to terminate this Lease on notice to Landlord. 

13.2 ABATEMENT OF RENT. If Landlord elects to repair damage to the
Building and all or part of the Premises will be unusable or inaccessible to Tenant in the ordinary conduct of its business until the damage is repaired, and the damage was not caused by the negligence or intentional acts of Tenant or its employees,
agents, contractors or invitees, Tenant’s Base Rent 

  
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and other charges shall be abated until the repairs are completed in proportion to the amount of the Premises which is unusable or inaccessible to Tenant in the ordinary conduct of its business.

 13.3 TENANT’S ACTS. Subject to the provisions of
Section 9.4, if such damage or destruction occurs as a result of the negligence or the intentional acts of Tenant or Tenant’s employees, agents, contractors or invitees, and the proceeds of insurance which are actually received by Landlord
are not sufficient to pay for the repair of all of the damage, Tenant shall pay, at Tenant’s sole cost and expense, to Landlord upon demand, the difference between the cost of repairing the damage and the insurance proceeds received by
Landlord. 
 13.4 TENANT’S PROPERTY. Landlord shall not be
liable to Tenant or its employees, agents, contractors, invitees or customers for loss or damage to merchandise, tenant improvements, fixtures, automobiles, furniture, equipment, computers, files or other property (hereinafter collectively
“Tenant’s property”) located at the Project. Tenant shall repair or replace all of Tenant’s property at Tenant’s sole cost and expense. Tenant acknowledges that it is Tenant’s sole responsibility to obtain
adequate insurance coverage to compensate Tenant for damage to Tenant’s property. 
 13.5
WAIVER. Landlord and Tenant hereby waive the provisions of any present or future statutes which relate to the termination of leases when leased property is damaged or destroyed and agree that such event
shall be governed by the terms of this Lease. 
 14. CONDEMNATION. If any portion of the Premises are taken
under the power of eminent domain, or sold under the threat of the exercise of said power (all of which are herein called “condemnation”), this Lease shall terminate as to the part so taken as of the date the condemning authority
takes title or possession, whichever first occurs; provided that if so much of the Premises are taken by such condemnation as would render the balance unsuitable for the conduct of Tenant’s business, in Tenant’s reasonable opinion, Tenant
shall have the option to terminate this Lease as of the date the condemning authority takes such possession. If Tenant does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion
of the Premises remaining, except that the Base Rent shall be reduced in the proportion that the usable floor area of the Premises taken bears to the total usable floor area of the Premises. Tenant shall have no right to terminate this Lease if any
condemnation affects the Outdoor Storage Area, if then applicable, or Tenant’s Parking Area, but Landlord shall use reasonable efforts to provide substitute storage and parking locations for Tenant. Any award for the taking of all or any part
of the Premises or the Project under the power of eminent domain or any payment made under threat of the exercise of such power shall be the property of Landlord, but Tenant shall be entitled to any separate award for loss of or damage to
Tenant’s removable personal property and for moving expenses. 
 15. ASSIGNMENT AND
SUBLETTING. 
 15.1 LANDLORD ’S
CONSENT REQUIRED. Tenant shall not voluntarily or by operation of law assign, transfer, hypothecate, mortgage, sublet, or otherwise transfer or encumber all or any part of Tenant’s interest
in this Lease or in the Premises (hereinafter collectively a “Transfer”), 

  
 - 15 - 

 
without in each instance having received Landlord’s prior written consent. If Tenant requests a Transfer, Landlord shall respond to Tenant’s written request for consent hereunder within
thirty (30) days after Landlord’s receipt of the written request from Tenant. Any attempted Transfer without such consent shall be void and shall constitute a material default and breach of this Lease. Tenant’s written request for
Landlord’s consent shall include, and Landlord’s thirty (30) day response period referred to above shall not commence, unless and until Landlord has received from Tenant, all of the following information: (a) financial statements
for the proposed assignee or subtenant for the past two (2) years prepared in accordance with generally accepted accounting principles; provided, however, the release of financial statements to Landlord may be subject to a confidentiality
agreement in the form of Exhibit F attached hereto, if required by the proposed transferee, (b) a TRW credit report or similar report on the proposed assignee or subtenant, (c) a detailed description of the business the assignee or
subtenant intends to operate at the Premises, (d) the proposed effective date of the assignment or sublease, (e) a copy of the proposed sublease or assignment agreement or a draft thereof, (f) a detailed description of any ownership
or commercial relationship between Tenant and the proposed assignee or subtenant, (g) a detailed description of any Alterations the proposed assignee or subtenant desires to make to the Premises, and (h) a Hazardous Materials Disclosure
Certificate substantially in the form of Exhibit D attached hereto (the “Transferee HazMat Certificate”). If the obligations of the proposed assignee or subtenant will be guaranteed by any person or entity, Tenant’s
written request shall not be considered complete until the information described in (a) and (b) of the previous sentence has been provided with respect to each proposed guarantor. 

“Transfer” shall also include the transfer (a) if Tenant is a corporation, and Tenant’s stock is not publicly
traded over a recognized securities exchange, of more than fifty percent (50%) of the voting stock of such corporation during the term of this Lease (whether or not in one or more transfers) or the dissolution, merger or liquidation of the
corporation, or (b) if Tenant is a partnership, limited liability company, limited liability partnership or other entity, of more than fifty percent (50%) of the profit and loss participation in such partnership or entity during the term
of this Lease (whether or not in one or more transfers) or the dissolution or liquidation of the partnership, limited liability company, limited liability partnership or other entity. If Landlord shall exercise any option to recapture the Premises,
or shall deny a request for consent to a proposed assignment or sublease, Tenant shall indemnify, defend and hold Landlord harmless from and against any and all losses, liabilities, damages, costs and claims that may be made against Landlord by the
proposed assignee or subtenant, or by any brokers or other persons claiming a commission or similar compensation in connection with the proposed assignment or sublease. 

15.2 STANDARD FOR APPROVAL. Landlord shall not unreasonably withhold
its consent to a Transfer provided that Tenant has complied with each and every requirement, term and condition of this Section 15. Tenant acknowledges and agrees that each requirement, term and condition in this Section 15 is a reasonable
requirement, term or condition. It shall be deemed reasonable for Landlord to withhold its consent to a Transfer if any requirement, term or condition of this Section 15 is not complied with or: (a) if a change in use is proposed in connection with
a Transfer, the Transfer would cause Landlord to be in violation of its obligations under another lease or agreement to which Landlord is a party; (b) if the net worth of 

  
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the proposed assignee is less than the net worth of Tenant as of the date of this Lease; (c) a proposed assignee’s or subtenant’s business will impose a greater burden on the
Project’s parking facilities, Common Areas or utilities or pose a greater environmental risk than the burden imposed by Tenant, in Landlord’s reasonable judgment; (d) a proposed assignee or subtenant refuses to enter into a written
assignment agreement or sublease, reasonably satisfactory to Landlord, which provides that it will abide by and assume all of the terms and conditions of this Lease for the term of any assignment or sublease and containing such other terms and
conditions as Landlord reasonably deems necessary; (e) the use of the Premises by the proposed assignee or subtenant will not be a use permitted by this Lease; (f) any guarantor of this Lease refuses to consent to the Transfer or to
execute a written agreement reaffirming the guaranty; (g) there is an Event of Default as defined in Section 16 at the time of the request; (h) subject to the provisions of Section 26, if requested by Landlord, the assignee
refuses to sign a non-disturbance and attornment agreement in favor of Landlord’s lender; (i) Landlord has sued or been sued by the proposed assignee or subtenant or has otherwise been involved in a legal dispute with the proposed assignee
or subtenant; (j) the assignee or subtenant is involved in a business which is not in keeping with the then-current standards of the Project or which is the same type of business then being conducted by Landlord in the Project; (k) the
proposed assignee or subtenant is an existing tenant of the Project or is a person or entity then negotiating with Landlord for the lease of space in the Project; (l) the assignee or subtenant is a governmental or quasi-governmental entity or
an agency, department or instrumentality of a governmental or quasi-governmental agency; or (m) the assignee or subtenant will use, store or handle Hazardous Materials which do not comply with the provisions of Section 25.3. 

15.3 PERMITTED TRANSFERS. The provisions of this Section 15 shall not, however, be applicable,
and Landlord’s consent shall not be required for an assignment of this lease by the Tenant to its wholly owned subsidiary or to its immediate controlling entity (“Parent”) or to any other entity which is under common control
with Tenant (for such period of time as such entity remains such a subsidiary, controlling entity or affiliate, respectively, it being agreed that the subsequent sale or transfer of stock resulting in a change in voting control, or any other
transaction(s) having the overall effect that such entity ceases to be such a subsidiary, controlling entity or affiliate, respectively, of the Tenant, shall be treated as if such sale or transfer or transaction(s) were, for all purposes, an
assignment of this lease governed by the provisions of this Section 15), provided (and it shall be a condition of the validity of any such assignment) that such wholly owned subsidiary, controlling entity or affiliate, as applicable, first
agree directly with the Landlord to be bound by all of the obligations of the Tenant hereunder, including, without limitation, the obligation to pay the rent and other amounts provided for under this lease, the covenant to use the demised premises
only for the purposes specifically permitted under this lease and the covenant against further assignment without Landlord’s consent, but such assignment shall not relieve the Tenant herein named of any of its obligations hereunder, and the
Tenant shall remain fully liable therefor. In addition, no consent of Landlord shall be required in connection with the initial public offering of Tenant’s stock or the registration of Tenant’s stock on any nationally recognized stock
exchange. 
 Notwithstanding the foregoing provisions of this Section 15, in the event that substantially all of the operations of the
Tenant, are being transferred to another entity by way of 

  
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merger, consolidation or sale of substantially all of the stock therein or assets thereof, Landlord’s consent shall not be required to an assignment of this lease to said resulting or
acquiring entity or to such merger, consolidation or sale of Tenant’s assets or stock, provided (and it shall be a condition of the validity of any such assignment), without limitation, that: (i) prior to, or concurrently with such
assignment, such entity shall agree directly with the Landlord to be bound by all of the obligations of the Tenant provided for under this Lease, including, without limitation, the covenant against further assignment; (ii) such assignment shall
not relieve the Tenant herein named of any of its obligations hereunder, and the Tenant shall remain fully liable therefor; and (iii) subject to execution of a confidentiality agreement in the form of Exhibit F attached hereto, the Tenant shall
furnish the Landlord with such information regarding such entity as the Landlord may reasonably require, including, without limitation, information regarding good reputation, financial ability, and (a) such entity has a tangible net worth,
calculated in accordance with generally accepted accounting principles, and certified by an independent certified public accountant, at least equal to Thirty Million and 00/100 Dollars ($30,000,000.00) in 2009 US Dollars at the time of assignment,
and (b) such transaction is for a valid business purpose and not principally for the purpose of transferring this Lease. 
 15.4
ADDITIONAL TERMS AND CONDITIONS. The following terms and conditions shall be applicable to any Transfer: 

(a) Regardless of Landlord’s consent, no Transfer shall release Tenant from Tenant’s obligations hereunder or alter the primary
liability of Tenant to pay the rent and other sums due Landlord hereunder and to perform all other obligations to be performed by Tenant hereunder or release any guarantor from its obligations under its guaranty. 

(b) Landlord may accept rent from any person other than Tenant pending approval or disapproval of an assignment or subletting. 

(c) Neither a delay in the approval or disapproval of a Transfer, nor the acceptance of rent, shall constitute a waiver or estoppel of
Landlord’s right to exercise its rights and remedies for the breach of any of the terms or conditions of this Section 15. 
 (d)
The consent by Landlord to any Transfer shall not constitute a consent to any subsequent Transfer by Tenant or to any subsequent or successive Transfer by an assignee or subtenant. However, Landlord may consent to subsequent Transfers or any
amendments or modifications thereto without notifying Tenant or anyone else liable on the Lease and without obtaining their consent, and such action shall not relieve such persons from liability under this Lease. 

(e) In the event of any default under this Lease, Landlord may proceed directly against Tenant, any guarantors or anyone else responsible for
the performance of this Lease, including any subtenant or assignee, without first exhausting Landlord’s remedies against any other person or entity responsible therefor to Landlord, or any security held by Landlord. 

  
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 (f) Landlord’s written consent to any Transfer by Tenant shall not constitute an
acknowledgment that no default then exists under this Lease nor shall such consent be deemed a waiver of any then-existing default. 
 (g)
Intentionally omitted. 
 (h) Landlord shall not be liable under this Lease or under any sublease to any subtenant. 

(i) No assignment or sublease may be modified or amended without Landlord’s prior written consent. 

(j) Intentionally omitted. 
 (k)
Any assignee of, or subtenant under, this Lease shall, by reason of accepting such assignment or entering into such sublease, be deemed, for the benefit of Landlord, to have assumed and agreed to conform and comply with each and every term,
covenant, condition and obligation herein to be observed or performed by Tenant during the term of said assignment or sublease, with respect to the space so subleased, other than such obligations as are contrary or inconsistent with provisions of an
assignment or sublease to which Landlord has specifically consented in writing. 
 (l) At Landlord’s request, Tenant shall deliver to
Landlord, Landlord’s standard consent to assignment or consent to sublease agreement, as applicable, executed by Tenant, the assignee and the subtenant, as applicable. 

15.5 ADDITIONAL TERMS AND CONDITIONS APPLICABLE
TO SUBLETTING. The following terms and conditions shall apply to any subletting by Tenant of all or any part of the Premises and shall be deemed included in all subleases under this Lease whether
or not expressly incorporated therein: 
 (a) Tenant hereby absolutely and unconditionally assigns and transfers to Landlord all of
Tenant’s interest in all rentals and income arising from any sublease entered into by Tenant, and Landlord may collect such rent and income and apply same toward Tenant’s obligations under this Lease; provided, however, that until a
default shall occur in the performance of Tenant’s obligations under this Lease, Tenant may receive, collect and enjoy the rents accruing under such sublease. Landlord shall not, by reason of this or any other assignment of such rents to
Landlord nor by reason of the collection of the rents from a subtenant, be deemed to have assumed or recognized any sublease or to be liable to the subtenant for any failure of Tenant to perform and comply with any of Tenant’s obligations to
such subtenant under such sublease, including, but not limited to, Tenant’s obligation to return any security deposit. Tenant hereby irrevocably authorizes and directs any such subtenant, upon receipt of a written notice from Landlord stating
that a default exists in the performance of Tenant’s obligations under this Lease, to pay to Landlord the rents due as they become due under the sublease. Tenant agrees that such subtenant shall have the right to rely upon any such statement
and request from 

  
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Landlord, and that such subtenant shall pay such rents to Landlord without any obligation or right to inquire as to whether such default exists and notwithstanding any notice or claim from Tenant
to the contrary. 
 (b) In the event Tenant shall default in the performance of its obligations under this Lease, Landlord, at its option
and without any obligation to do so, may require any subtenant to attorn to Landlord, on the terms of such sublease, in which event Landlord shall undertake the obligations of Tenant under such sublease from the time of the exercise of said option
to the termination of such sublease; provided, however, Landlord shall not be liable for any prepaid rents or security deposit paid by such subtenant to Tenant, unless actually received by Landlord, or for any other prior defaults of Tenant under
such sublease. 
 15.6 TRANSFER PREMIUM FROM ASSIGNMENT OR
SUBLETTING. Landlord shall be entitled to receive from Tenant (as and when received by Tenant) as an item of additional rent the following amounts (hereinafter the Transfer Premium): (a) if a sublease is
for less than fifty percent (50%) of the usable square feet in the Premises, one-half of all amounts received by Tenant from the subtenant in excess of the amounts payable by Tenant to Landlord hereunder or (b) if a sublease is for fifty
percent (50%) or more of the usable square feet in the Premises or Tenant assigns the Lease, all amounts received by Tenant from the subtenant or assignee in excess of the amounts payable by Tenant to Landlord hereunder. The Transfer Premium
shall be reduced by the reasonable brokerage commissions and legal fees and other concessions given by Tenant to obtain the Transfer such as, without limitation, an improvement allowance, actually paid by Tenant in order to assign the Lease or to
sublet a portion of the Premises. “Transfer Premium” shall mean all Base Rent, additional rent or other consideration of any type whatsoever payable by the assignee or subtenant for and only to the extent attributable to a Transfer
of Tenant’s lease rights in excess of the Base Rent and additional rent payable by Tenant under this Lease. If less than all of the Premises is transferred, the Base Rent and the additional rent shall be determined on a per-leasable-square-foot
basis. “Transfer Premium” shall also include, but not be limited to, key money and bonus money paid by the assignee or subtenant to Tenant in connection with such Transfer, and any payment in excess of fair-market value for
fixtures, inventory, equipment or furniture transferred by Tenant to the assignee or subtenant in connection with such Transfer. 
 15.7
LANDLORD’S OPTION TO RECAPTURE SPACE. Notwithstanding anything to the contrary contained in this Section 15, Landlord shall
have the option, but not the obligation, by giving written notice to Tenant within thirty (30) days after receipt of any request by Tenant to assign this Lease or to sublease more than twenty-five percent (25%) of space in the Premises for the
remainder of the Term, to terminate this Lease with respect to said space as of the date thirty (30) days after Landlord’s election. In the event of a recapture by Landlord, if this Lease shall be canceled with respect to less than the entire
Premises, the Base Rent, and the number of parking spaces Tenant may use shall be adjusted on the basis of the number of leasable square feet retained by Tenant in proportion to the number of leasable square feet contained in the original Premises,
and this Lease as so amended shall continue thereafter in full force and effect, and upon request of either party, the parties shall execute written confirmation of same. If Landlord recaptures only a portion of the Premises, it shall construct and
erect at its sole cost such 

  
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partitions as may be required to sever the space to be retained by Tenant from the space recaptured by Landlord. Landlord may, at its option, lease any recaptured portion of the Premises to the
proposed subtenant or assignee or to any other person or entity without liability to Tenant. Tenant shall not be entitled to any portion of the profit, if any, Landlord may realize on account of such termination and reletting. Tenant acknowledges
that the purpose of this Section is to enable Landlord to receive profit in the form of higher rent or other consideration to be received from an assignee or subtenant, to give Landlord the ability to meet additional space requirements of other
tenants of the Project and to permit Landlord to control the leasing of space in the Project. Tenant acknowledges and agrees that the requirements of this Section are commercially reasonable and are consistent with the intentions of Landlord and
Tenant. 
 15.8 LANDLORD’S EXPENSES. In the event Tenant
shall assign this Lease or sublet the Premises or request the consent of Landlord to any Transfer, then Tenant shall pay Landlord’s reasonable costs and expenses incurred in connection therewith, including but not limited to reasonable
attorneys’ or other consultants’ fees. 
 15.9 LIMIT ON TRANSFER
OF OUTDOOR STORAGE AREA/PARKING AREA. Tenant’s rights to the Outdoor Storage Area and the Parking Area may not be transferred
except in connection with an assignment of this Lease or a subletting of the entire Premises permitted or consented to under this Lease. 
 16.
DEFAULT; REMEDIES. 
 16.1 DEFAULT BY
TENANT. Landlord and Tenant hereby agree that the occurrence of any one or more of the following events is an “Event of Default” by Tenant under this Lease for which Landlord shall have the rights
described in Section 16.2. Landlord or Landlord’s authorized agent shall have the right to execute and to deliver any notice of default, notice to pay rent or quit or any other notice Landlord gives Tenant. 

(a) Tenant’s failure to make any payment of Base Rent, Outdoor Storage Area Rent or any other payment required to be made by Tenant
hereunder, as and when due, where such failure shall continue for a period of seven (7) days after written notice thereof is delivered from Landlord to Tenant, in accordance with Section 40 of this Lease. 

(b) The failure by Tenant to observe or perform any of the covenants, conditions or provisions of Section 25 of this Lease to be observed or
performed by Tenant, where such failure shall continue for a period of ten (10) business days after written notice thereof from Landlord to Tenant is delivered in accordance with Section 40 of this Lease; provided, however, that if the nature of
Tenant’s nonperformance is such that more than ten (10) business days are reasonably required for its cure, then Tenant shall not be deemed to be in default if Tenant commences such cure within said ten (10) business day period and thereafter
diligently pursues such cure to completion. Any cure not completed by the time required under applicable Environmental Laws shall be an Event of Default without the requirement of any further notice from Landlord. 

  
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 (c) The failure of Tenant to comply with any of its obligations under Sections 9, 15, 18, 23, and
26 where Tenant fails to comply with its obligations or fails to cure any earlier breach of such obligation within ten (10) days following written notice from Landlord to Tenant. In the event Landlord serves Tenant with a notice to quit or any
other notice pursuant to applicable unlawful detainer statutes, said notice shall also constitute the notice required by this Section 16.1(c). 

(d) The failure by Tenant to observe or perform any of the covenants, conditions or provisions of this Lease to be observed or performed by
Tenant (other than those referenced in Sections 16.1(a) and (c) above), where such failure shall continue for a period of thirty (30) days after written notice thereof from Landlord to Tenant, delivered in accordance with Section 40
of this Lease; provided, however, that if the nature of Tenant’s nonperformance is such that more than thirty (30) days are reasonably required for its cure, then Tenant shall not be deemed to be in default if Tenant commences such cure
within said thirty (30) day period and thereafter diligently pursues such cure to completion. 
 (e) (i) The making by Tenant or any
guarantor of Tenant’s obligations hereunder of any general arrangement or general assignment for the benefit of creditors; (ii) Tenant or any guarantor becoming a “debtor” as defined in 11 U.S.C. 101 or any successor statute
thereto (unless, in the case of a petition filed against Tenant or guarantor, the same is dismissed within sixty (60) days); (iii) the appointment of a trustee or receiver to take possession of substantially all of Tenant’s assets
located at the Premises or of Tenant’s interest in this Lease, where possession is not restored to Tenant within thirty (30) days; (iv) the attachment, execution or other judicial seizure of substantially all of Tenant’s assets
located at the Premises or of Tenant’s interest in this Lease, where such seizure is not discharged within thirty (30) days; or (v) the insolvency of Tenant. In the event that any provision of this Section 16.1(e) is
unenforceable under applicable law, such provision shall be of no force or effect. 
 (f) The discovery by Landlord that any financial
statement, representation or warranty given to Landlord by Tenant, or by any guarantor of Tenant’s obligations hereunder, was materially false at the time given. Tenant acknowledges that Landlord has entered into this Lease in material reliance
on such information. 
 (g) If Tenant is a corporation, partnership, limited liability company or similar entity, the dissolution or
liquidation of Tenant. 
 (h) If Tenant’s obligations under this Lease are guaranteed: (i) the death of a guarantor, (ii) the
termination of a guarantor’s liability with respect to this Lease other than in accordance with the terms of such guaranty, (iii) a guarantor’s becoming insolvent or the subject of a bankruptcy filing, (iv) a guarantor’s refusal to
honor the guaranty, or (v) a guarantor’s breach of its guaranty obligation on an anticipatory breach basis. 

  
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 16.2 REMEDIES. 

(a) Upon an Event of Default, Landlord may, at any time thereafter, with or without notice or demand, and without limiting Landlord in the
exercise of any right or remedy which Landlord may have by reason of such default: 
 (i) terminate Tenant’s right to possession of
the Premises by any lawful means, in which case this Lease and the term hereof shall terminate and Tenant shall immediately surrender possession of the Premises to Landlord. If Landlord terminates this Lease, Landlord may recover from Tenant
(A) the worth at the time of award of the unpaid rent which had been earned at the time of termination; (B) the worth at the time of award of the amount by which the unpaid rent which would have been earned after termination until the time
of award exceeds the amount of such rental loss that Tenant proves could have been reasonably avoided; (C) the worth at the time of award of the amount by which the unpaid rent for the balance of the term after the time of award exceeds the
amount of such rental loss that Tenant proves could have been reasonably avoided; and (D) any other amount necessary to compensate Landlord for all detriment proximately caused by Tenant’s failure to perform its obligations under the Lease
or which in the ordinary course of things would be likely to result therefrom, including, but not limited to, the cost of recovering possession of the Premises, expenses of releasing, including necessary renovation and alteration of the Premises,
reasonable attorneys’ fees, any real estate commissions actually paid by Landlord and the value of any free rent, reduced rent, tenant improvement allowance or other economic concessions provided by Landlord; provided, however, improvement
costs and brokerage commissions shall be amortized and Tenant will be liable only for the amortized costs of such expenses during the remainder of the Term. The “worth at time of award” of the amounts referred to in
Section 16.2(a)(i)(A) and (B) shall be computed by allowing interest at the lesser of ten percent (10%) per annum or the maximum interest rate permitted by applicable law. The worth at the time of award of the amount referred to in
Section 16.2(a)(i)(C) shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of Boston at the time of award plus one percent (1%). For purposes of this Section 16.2(a)(i), “rent” shall be
deemed to be all monetary obligations required to be paid by Tenant pursuant to the terms of this Lease. If Landlord exercises the election set out in this subclause (i), Landlord shall not assert that Landlord’s actual damages are greater than
the amount calculated under this subclause (i). 
 (ii) maintain Tenant’s right of possession, in which event Landlord shall have the
remedy which permits Landlord to continue this Lease in effect after Tenant’s breach and abandonment and recover rent as it becomes due. In the event Landlord elects to continue this Lease in effect, Tenant shall have the right to sublet the
Premises or assign Tenant’s interest in the Lease subject to the reasonable requirements contained in Section 15 of this Lease and provided further that Landlord shall not require compliance with any standard or condition contained in
Section 15 that has become unreasonable at the time Tenant seeks to sublet or assign the Premises pursuant to this Section 16.2(a)(ii). 

(iii) collect sublease rents (or appoint a receiver to collect such rent) and otherwise perform Tenant’s obligations at the Premises, it
being agreed, however, that the 

  
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appointment of a receiver for Tenant shall not constitute an election by Landlord to terminate this Lease. 

(iv) pursue any other remedy now or hereafter available to Landlord under the laws or judicial decisions of the state in which the Premises
are located. 
 (b) No remedy or election hereunder shall be deemed exclusive, but shall, wherever possible, be cumulative with all other
remedies at law or in equity. The expiration or termination of this Lease and/or the termination of Tenant’s right to possession of the Premises shall not relieve Tenant of liability under any indemnity provisions of this Lease as to matters
occurring or accruing during the term of the Lease or by reason of Tenant’s occupancy of the Premises. 
 (c) If Tenant abandons or
vacates the Premises, Landlord may re-enter the Premises, and such re-entry shall not be deemed to constitute Landlord’s election to accept a surrender of the Premises or to otherwise relieve Tenant from liability for its breach of this Lease.
No surrender of the Premises shall be effective against Landlord unless Landlord has entered into a written agreement with Tenant in which Landlord expressly agrees to (i) accept a surrender of the Premises and (ii) relieve Tenant of
liability under the Lease. The delivery by Tenant to Landlord of possession of the Premises shall not constitute the termination of the Lease or the surrender of the Premises. 

16.3 DEFAULT BY LANDLORD. Landlord shall not be in default under
this Lease unless Landlord fails to perform obligations required of Landlord within thirty (30) days after written notice by Tenant to Landlord, delivered in accordance with Section 40 of this Lease, and to the holder of any mortgage or
deed of trust encumbering the Project whose name and address shall have theretofore been furnished to Tenant in writing, specifying wherein Landlord has failed to perform such obligation; provided, however, that if the nature of Landlord’s
obligation is such that more than thirty (30) days are required for its cure, then Landlord shall not be in default if Landlord commences performance within such thirty (30) day period and thereafter diligently pursues the same to
completion. Tenant hereby waives its right to recover consequential damages (including, but not limited to, lost profits) or punitive damages arising out of a Landlord default. This Lease and the obligations of Tenant hereunder shall not be affected
or impaired because Landlord is unable to fulfill any of its obligations hereunder or is delayed in doing so, if such inability or delay is caused by reason of an event of force majeure, as defined in Section 57, and the time for
Landlord’s performance shall be extended for the period of any such delay. 
 16.4 LATE
CHARGES. If any installment of Base Rent, or any other sum due from Tenant shall not be received by Landlord within 10 days of the date when due, Tenant shall immediately pay to Landlord a late charge equal to
ten percent (10%) of such overdue amount. Acceptance of such late charge by Landlord shall in no event constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and
remedies granted hereunder, including the assessment of interest under Section 16.5. 

  
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 16.5 INTEREST ON PAST-DUE
OBLIGATIONS. Except as expressly herein provided, any amount due to Landlord that is not paid within seven (7) days of the date when due shall bear interest at the lesser of ten percent (10%) per annum
or the maximum rate permitted by applicable law (the “Interest Rate”). Payment of such interest shall not excuse or cure any default by Tenant under this Lease. 

17. LANDLORD’S RIGHT TO CURE DEFAULT;
PAYMENTS BY TENANT. All covenants and agreements to be kept or performed by Tenant under this Lease shall be performed by Tenant at Tenant’s sole cost and expense and without
any reduction of rent. If Tenant shall fail to perform any of its obligations under this Lease, Landlord may, but shall not be obligated to, after five (5) business days’ prior written notice to Tenant, make any such payment or perform any
such act on Tenant’s behalf without waiving its rights based upon any default of Tenant and without releasing Tenant from any obligations hereunder. Tenant shall pay to Landlord, within ten (10) business days after delivery by Landlord to
Tenant of statements therefore, an amount equal to the expenditures reasonably made by Landlord in connection with the remedying by Landlord of Tenant’s defaults pursuant to the provisions of this Section. 

18. INDEMNITY. Except to the extent resulting from the negligence or willful misconduct of Landlord or any of
Landlord’s agents, employees or contractors and subject to the provisions of Section 9.4 of this Lease, Tenant hereby agrees to indemnify, defend and hold harmless Landlord and its employees, partners, agents, lenders and ground lessors (said
persons and entities are hereinafter collectively referred to as the “Indemnified Parties”) from and against any and all liability, loss, cost, damage, claims, liens, judgments, penalties, fines, settlement costs, investigation
costs, cost of consultants and experts, reasonable attorneys fees, court costs and other legal expenses, effects of environmental contamination, cost of environmental testing, removal, remediation and/or abatement of Hazardous Materials (as said
term are defined below), insurance policy deductibles and other expenses (hereinafter collectively referred to as “Damages”) arising out of or related to an Indemnified Matter (as defined below). For purposes of this Section, an
“Indemnified Matter” shall mean any matter for which one or more of the Indemnified Parties incurs liability or Damages if the liability or Damages arise directly out of (a) Tenant’s or its employees’, agents’,
contractors’ or invitees’ (all of said persons or entities are hereinafter collectively referred to as “Tenant Parties”) use or occupancy of the Premises or the Project, (b) any act, omission or neglect of a Tenant Party,
(c) Tenant’s failure to perform any of its obligations under the Lease, (d) the existence, use or disposal of any Hazardous Substance (as defined below) brought on to the Project by a Tenant Party or (e) any other matters for which Tenant has
agreed to indemnify Landlord pursuant to any other provision of this Lease. Tenant’s obligations hereunder shall include, but shall not be limited to (f) compensating the Indemnified Parties for Damages arising out of Indemnified Matters within
thirty (30) days after written demand from an Indemnified Party and (g) providing a defense, with counsel reasonably satisfactory to the Indemnified Party, at Tenant’s sole expense, within ten (10) days after written demand from the Indemnified
Party, of any claims, action or proceeding arising out of or relating to an Indemnified Matter whether or not litigated or reduced to judgment and whether or not well founded. The Indemnified Parties need not first pay any Damages to be indemnified
hereunder. This indemnity is intended to apply to the fullest extent permitted by applicable law. Tenant’s 

  
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obligations under this Section shall survive the expiration or termination of this Lease unless specifically waived in writing by Landlord after said expiration or termination. 

Landlord agrees to indemnify, defend and save harmless the Tenant from and against all claims of whatever nature arising from (i) any negligence or
willful misconduct of the Landlord or the Landlord’s contractors, agents or employees or (ii) any accident, injury or damage whatsoever caused to any person, or to the property of any person, occurring outside of the Premises but within
the Project, where such accident, damage or injury results or is claimed to have resulted from an act or omission on the part of the Landlord or the Landlord’s contractors, agents, or employees and not from the negligence or willful misconduct
of Tenant, its contractors, agents or employees. This indemnity and hold harmless agreement shall include indemnity against all reasonable costs, expenses and liabilities incurred in or in connection with any such claim or proceeding brought
thereon, and the defense thereof and shall survive the expiration or earlier termination of this Lease. 
 19. EXEMPTION
OF LANDLORD FROM LIABILITY. Landlord shall not be liable for any damages arising from any act or neglect of any employees, agents, contractors or invitees of any
other tenant, occupant or user of the Project, nor from the failure of Landlord to enforce the provisions of the lease of any other tenant of the Project. Except as set forth in Sections 18, 20 and 25.2 herein, Tenant, as a material part of the
consideration to Landlord hereunder, hereby assumes all risk of damage to Tenant’s property or business or injury to persons in, upon or about the Project arising from any cause, including Landlord’s negligence or the negligence of its
employees, agents or contractors, and Tenant hereby waives all claims in respect thereof against Landlord, its employees, agents and contractors. 
 20.
LANDLORD’S LIABILITY. Tenant acknowledges that Landlord shall have the right to transfer all or any portion of its interest in the Project and to assign this Lease to the
transferee. Tenant agrees that in the event of such a transfer Landlord shall automatically be released from all liability under this Lease, provided the assignor assumes all of Landlord’s obligations under this Lease; and Tenant hereby agrees
to look solely to Landlord’s transferee for the performance of Landlord’s obligations hereunder after the date of the transfer. Tenant agrees to look solely to Landlord’s equity interest in the Project for the collection of any
judgment requiring the payment of money by Landlord arising out of (a) Landlord’s failure to perform its obligations under this Lease or (b) the negligence or willful misconduct of Landlord, its partners, employees and agents. No other property
or assets of Landlord shall be subject to levy, execution or other enforcement procedure for the satisfaction of any judgment or writ obtained by Tenant against Landlord. No partner, employee or agent of Landlord shall be personally liable for the
performance of Landlord’s obligations hereunder or be named as a party in any lawsuit arising out of or related to, directly or indirectly, this Lease and the obligations of Landlord hereunder. The obligations under this Lease do not constitute
personal obligations of the individual partners of Landlord, if any, and Tenant shall not seek recourse against the individual partners of Landlord or their assets. 

  
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 21. SIGNS. Tenant shall not install any exterior lights, decorations,
balloons, flags, pennants, banners or signs on the exterior of the Building without Landlord’s consent which consent shall not be unreasonably withheld. Any exterior signs approved by Landlord shall be installed by Tenant at Tenant’s sole
cost. Tenant shall obtain all necessary municipal approvals for its signs. All signs installed by Tenant shall be removed at the expiration of the term of this lease. 

22. BROKER’S FEE. Tenant and Landlord each represent and warrant to the other
that neither has had any dealings or entered into any agreements with any person, entity, broker or finder, in connection with the negotiation of this Lease, other than the persons, if any, listed in Section 1.17. Tenant and Landlord each agree
to indemnify, defend and hold the other harmless from and against any claims, damages, costs, expenses, attorneys’ fees or liability for compensation or charges which may be claimed by any such unnamed broker, finder or other similar party by
reason of any dealings, actions or agreements of the indemnifying party. 
 23. ESTOPPEL
CERTIFICATE. 
 23.1 DELIVERY OF
CERTIFICATE. Tenant and Landlord shall from time to time, upon not less than ten (10) days’ prior written notice from the other, execute, acknowledge and deliver a statement in writing certifying in
the case of Landlord to a potential purchaser or any current or potential lender, and in the case of Tenant to an assignee or sublessee, such information as may be reasonably requested, including, but not limited to, the following: (a) that
this Lease is unmodified and in full force and effect (or, if modified, stating the nature of such modification and certifying that this Lease, as so modified, is in full force and effect), (b) the date to which the Base Rent and other charges
are paid in advance and the amounts so payable, (c) that there are not, to the best knowledge of the certifying party, any uncured defaults or unfulfilled obligations on the part of the other, or specifying such defaults or unfulfilled
obligations, if any are claimed, (d) that all improvements to be constructed by Landlord or Tenant, if any, have been completed in accordance with the requirements of the Lease, and (e) that Tenant has taken possession of the Premises. Any such
statement may be conclusively relied upon by the addressee. 
 24. FINANCIAL INFORMATION. From
time to time, at Landlord’s request, but not more frequently than once per year, Tenant shall cause the following financial information to be delivered to Landlord, at Tenant’s sole cost and expense, upon not less than ten
(10) days’ advance written notice from Landlord a current financial statement for Tenant (audited if available), and such other current financial information pertaining to Tenant (and which Tenant then has available) as Landlord or any
lender or purchaser of Landlord may reasonably request. Submission of financial statements to Landlord and any lender or purchaser may be subject to a confidentiality agreement in the form of Exhibit F. 

25. ENVIRONMENTAL MATTERS/HAZARDOUS MATERIALS. 

25.1 HAZARDOUS MATERIALS DISCLOSURE
CERTIFICATE. Prior to executing this Lease, Tenant has delivered to Landlord Tenant’s executed initial Hazardous Materials Disclosure Certificate (the “Initial HazMat
Certificate”), a copy of which is attached hereto as Exhibit D. Tenant covenants, represents and warrants to Landlord that the information in the 

  
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Initial HazMat Certificate is true and correct as of the date hereof and accurately describes the use(s) of Hazardous Materials which will be made and/or used on the Premises by Tenant. Tenant
shall, commencing with the date which is one year from the Commencement Date and continuing every year thereafter, deliver to Landlord an executed Hazardous Materials Disclosure Certificate (the “HazMat Certificate”) describing
Tenant’s then-present use of Hazardous Materials on the Premises, and any other reasonably necessary documents and information as requested by Landlord. The HazMat Certificates required hereunder shall be in substantially the form attached
hereto as Exhibit D. 
 25.2 DEFINITION OF HAZARDOUS
MATERIALS. As used in this Lease, the term Hazardous Materials shall mean and include (a) any hazardous or toxic wastes, materials or substances, and other pollutants or
contaminants, which are or become regulated by any Environmental Laws (defined below); (b) petroleum, petroleum by-products, gasoline, diesel fuel, crude oil or any fraction thereof; (c) asbestos and asbestos-containing material, in any
form, whether friable or non-friable; (d) polychlorinated biphenyls; (e) radioactive materials; (f) lead and lead-containing materials; (g) any other material, waste or substance displaying toxic, reactive, ignitable or corrosive
characteristics, as all such terms are used in their broadest sense, and are defined or become defined by any Environmental Law; or (h) any materials which poses or threatens to pose a hazard to the health and safety of persons on the Premises,
any other portion of the Project or any surrounding property. For purposes of this Lease, the term “Hazardous Materials” shall not include nominal amounts of ordinary household cleaners, office supplies and janitorial supplies which are
not actionable under any Environmental Laws. Landlord represents and warrants to Tenant, to the best of Landlord’s knowledge, as of the date hereof: (i) the Premises, the Building, the Common Areas and the Project are in compliance with
all applicable Environmental Laws; (ii) Landlord has not received notice of any enforcement action pending or threatened in writing with respect to Landlord or the Project under applicable Environmental Laws; and (iii) there is no
reportable release of any Hazardous Materials under applicable Environmental Laws. 
 If, during the term of this Lease, any governmental
authority requires the remediation of Hazardous Materials from the Premises, Building or Common Areas due to the acts of any party other than Tenant, its assignees, subtenants, contractors, vendors, licensees or any employee or agent of any of them,
and such remediation poses a safety threat to Tenant’s contractors, employees or customers or requires Tenant to cease construction or operations in all or any portion of the Premises, as the case may be, Tenant, shall provide notice to
Landlord thereof, and if the condition is not remedied within thirty (30) days following notice to Landlord, Tenant shall be entitled to an equitable abatement of Rent from the date Tenant ceases such operation in all or the affected portion of
the Premises until the date such safety threat is no longer present, and Landlord shall, at Landlord’s sole cost and expense, remediate such Hazardous Materials in compliance with all applicable Environmental Laws. 

Landlord agrees to indemnify, defend and hold Tenant harmless from any claims, judgments, damages, fines, penalties, costs, liabilities and/or
losses, including, without limitation, reasonable attorney’s fees, reasonable consultants fees and reasonable expert fees arising directly from a breach of Landlord’s representations contained in Section 25.2, the

  
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Landlord’s Work, or the presence, use, generation, storage, release, or disposal of Hazardous Materials by Landlord, its employees, agents or contractors, on or under the Project, including
the Premises. Landlord’s indemnity obligations under this paragraph shall survive the expiration or earlier termination of this Lease. 

25.3 PROHIBITION; ENVIRONMENTAL LAWS.
Tenant shall not be entitled to use or store any Hazardous Materials on, in, or about any portion of the Premises and the Project without, in each instance, obtaining Landlord’s prior written consent thereto, except that Tenant may use the
Hazardous Materials identified on the initial HazMat Certificate provided Tenant uses, stores and disposes of such Hazardous Materials in compliance with all applicable Environmental Laws. If Landlord, in its sole discretion, consents to any such
usage or storage, then Tenant shall be permitted to use and/or store only those Hazardous Materials that are necessary for Tenant s business and to the extent disclosed in a HazMat Certificate and as expressly approved by Landlord in writing. Any
such usage and storage may only be to the extent of the quantities of Hazardous Materials as specified in the then-applicable HazMat Certificate as expressly approved by Landlord. In all events such usage and storage must at all times be in full
compliance with any and all local, state and federal environmental, health and/or safety-related laws, statutes, orders, standards, courts’ decisions, ordinances, rules and regulations (as interpreted by judicial and administrative decisions),
decrees, directives, guidelines, permits or permit conditions, currently existing and as amended, enacted, issued or adopted in the future which are or become applicable to Tenant or all or any portion of the Premises (collectively, the
“Environmental Laws”) and in compliance with the recommendations of Landlord’s consultants Tenant agrees that any changes to the type and/or quantities of Hazardous Materials specified in the most recent HazMat Certificate may
be implemented only with the prior written consent of Landlord, which consent may be given or withheld in Landlord’s sole discretion. Tenant shall not be entitled nor permitted to install any tanks under, on or about the Premises for the
storage of Hazardous Materials without the express written consent of Landlord, which may be given or withheld in Landlord’s sole discretion. Landlord shall have the right, in Landlord s sole discretion, at all times during the Term of this
Lease to (i) inspect the Premises, (ii) conduct tests and investigations to determine whether Tenant is in compliance with the provisions of this Section 25 or to determine if Hazardous Materials are present in, on or about the Project, (iii)
request lists of all Hazardous Materials used, stored or otherwise located on, under or about any portion of the Premises by Tenant, and (iv) to require Tenant to complete a survey of its use, storage and handling of Hazardous Materials in the
Premises, using a form and following procedures designated by Landlord, in Landlord’s sole discretion (the “Survey”). Such Survey may not be requested more than once per year unless required by Landlord’s lender or
insurer. If it is finally determined that Tenant violated the provisions of this Section 25, Tenant shall reimburse Landlord for the cost of all such inspections, tests and investigations, and all costs associated with any Survey. If as a result of
an inspection, test or Survey Landlord reasonably determines, that Tenant should implement or perform safety, security or compliance measures, Tenant shall within thirty (30) days after written request by Landlord perform such measures, at
Tenant’s sole cost and expense; provided, however, if Tenant disputes the needs for any such safety, security or compliance measures, Landlord and Tenant shall cooperate in good faith to resolve such dispute. The aforementioned rights granted
herein to Landlord and its representatives shall not create (a) a duty on Landlord’s part to inspect, test, investigate, monitor 

  
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or otherwise observe the Premises or the activities of Tenant and Tenant Parties with respect to Hazardous Materials, including without limitation, Tenant’s operation, use and any
remediation relating thereto, or (b) liability on the part of Landlord and its representatives for Tenant’s use, storage, disposal or remediation of Hazardous Materials, it being understood that Tenant shall be solely responsible for all
liability in connection therewith. 
 25.4 TENANT’S ENVIRONMENTAL
OBLIGATIONS. Tenant shall give to Landlord prompt verbal and follow-up written notice of any spills, releases, discharges, disposals, emissions, migrations, removals or transportation
of Hazardous Materials on, under or about any portion of the Premises or in any Common Areas during the Term; provided that Tenant has actual or constructive knowledge of such event(s). Tenant, at its sole cost and expense, covenants and warrants to
promptly investigate, clean up, remove, restore and otherwise remediate (including, without limitation, preparation of any feasibility studies or reports and the performance of any and all closures) any spill, release, discharge, disposal, emission,
migration or transportation of Hazardous Materials arising from or related to the intentional or negligent acts or, where Tenant has an obligation under this Lease to act, omissions of Tenant or any Tenant Parties such that the affected portions of
the Project and any adjacent property are returned to the condition existing prior to the release of such Hazardous Materials. Any such investigation, clean up, removal, restoration and other remediation by Tenant shall only be performed after
Tenant has obtained Landlord’s prior written consent, which consent shall not be unreasonably withheld so long as such actions would not potentially have a material adverse long-term or short-term effect on any portion of the Project.
Notwithstanding the foregoing, Tenant shall be entitled to respond immediately to an emergency without first obtaining Landlord’s prior written consent. Tenant, at its sole cost and expense, shall conduct and perform, or cause to be conducted
and performed, all investigations and closures as required by any Environmental Laws or any agencies or other governmental authorities having jurisdiction thereof with respect to any use or release of Hazardous Materials by Tenant or any Tenant
Parties. If Tenant fails to so promptly investigate, clean up, remove, restore, provide closure or otherwise so remediate, Landlord may, but without obligation to do so, take any and all steps necessary to rectify the same, and Tenant shall promptly
reimburse Landlord, upon demand, for all costs and expenses to Landlord of performing investigation, cleanup, removal, restoration, closure and remediation work. All such work undertaken by Tenant, as required herein, shall be performed in such a
manner so as to enable Landlord to make full economic use of the Premises and other portions of the Project after the satisfactory completion of such work. 

Tenant’s obligations under this Section 25 shall not apply to and Tenant shall have no liability to Landlord with respect to (i)
requirements of Environmental Laws or any Hazardous Materials resulting from the Landlord’s Work or any Hazardous Materials present at the Project as of the date of this Lease, or (ii) Hazardous Materials which are in the Building or on the
Project because of the action or inaction of Landlord, its agents, employees, contractors or any tenant or occupant at the Project, or any of their respective employees, agents, contractors or invitees, or (iii) any Hazardous Materials which migrate
or migrated to the Premises, the Building or the Project from another property. 

  
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 25.5 ENVIRONMENTAL
INDEMNITY. In addition to Tenant’s other indemnity obligations under this Lease, Tenant agrees to, and shall, protect, indemnify, defend (with counsel acceptable to Landlord) and
hold Landlord and the other Indemnitees harmless from and against any and all loss, cost, damage, liability or expense (including, without limitation, damages for the loss of or restriction on the use of leasable space) arising at any time during or
after the term of this Lease directly in connection with the use, presence, transportation, storage, disposal, migration, removal, spill, release or discharge of Hazardous Materials on, in or about any portion of the Project by Tenant or any of the
Tenant Parties. Neither the written consent of Landlord to the presence, use or storage of Hazardous Materials in, on, under or about any portion of the Project nor the strict compliance by Tenant with all Environmental Laws shall excuse Tenant from
its obligations of indemnification pursuant hereto. Tenant shall not be relieved of its indemnification obligations under the provisions of this Section 25.5 due to Landlord’s status as either an “owner” or “operator”
under any Environmental Laws. 
 25.6 SURVIVAL. Tenant’s obligations and liabilities pursuant to the
provisions of this Section 25 shall survive the expiration or earlier termination of this Lease. If it is determined by Landlord that the condition of all or any portion of the Project is not in compliance with the provisions of this Lease with
respect to Hazardous Materials, including without limitation all Environmental Laws, because of the action or, where Tenant has an obligation under this Lease to act, omission of Tenant, its agents, employees, contractors, at the expiration or
earlier termination of this Lease, then Landlord may require Tenant to hold over possession of the Premises until Tenant shall have fulfilled its obligations under this Lease with respect to the remediation of Hazardous Materials, Landlord in the
condition in which the Premises existed as of the Commencement Date and prior, including without limitation, the conduct or performance of any closures as required by any Environmental Laws. [??] The burden of proof hereunder shall be upon Tenant.
Any such holdover by Tenant will be with Landlord’s consent, will not be terminable by Tenant in any event or circumstance and will otherwise be subject to the provisions of Section 30 of this Lease. 

26. SUBORDINATION. 

26.1 EFFECT OF SUBORDINATION. This Lease, upon Landlord’s written election,
and subject to Tenant’s receipt of an SNDA as required under this Section 26, shall be subject and subordinate to any ground lease, mortgage, deed of trust or any other hypothecation or security now or hereafter placed upon the Project and to
any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. At the request of any mortgagee, trustee or ground lessor, Tenant shall attorn to such person or entity, and
subject to Tenant’s receipt of an SNDA as required under this Section 26. Notwithstanding the foregoing, the subordination of this Lease to any mortgage or ground lease executed after the date of this Lease is expressly conditioned upon the
holder thereof executing and delivering to Tenant a Subordination, Non-Disturbance and Attornment Agreement (an “SNDA”) in form reasonably satisfactory to both Tenant and such Holder. If any mortgagee, trustee or ground lessor shall elect
to have this Lease and any Options granted hereby prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Tenant, this Lease and such Options shall be deemed prior to such mortgage, deed of trust or
ground 

  
 - 31 - 

 
lease, whether this Lease or such Options are dated prior or subsequent to the date of said mortgage, deed of trust or ground lease or the date of recording thereof Subject to the provisions of
this Section 26.1, Tenant agrees to execute and acknowledge within ten (10) days after request, any documents Landlord reasonably requests Tenant execute to effectuate an attornment, a subordination, or to make this Lease prior to the lien
of any mortgage, deed of trust or ground lease, as the case may be. Landlord agrees to obtain and SNDA from the existing mortgagee in favor of Tenant, on or shortly after the execution and delivery of this Lease. 

27. OPTIONS. If this Lease is still in full force and effect, then, Tenant shall have the option to extend the term hereof, for a
period of five (5) years (“First Option Period”); provided: (i) Tenant shall give written notice to Landlord of the exercise of any such option not later than one (1) year prior to the Initial Term Expiration
Date, or if applicable, one year prior to the date of expiration of the OSA Extension Period, time being of the essence; and (ii) Tenant shall not be in default hereunder beyond any notice and applicable cure period. 

If said option is duly exercised, as aforesaid, and no such uncured default exists, then, the term of this Lease shall be automatically
extended for the applicable First Option Period, without the requirement of any further instrument, upon all of the same terms, provisions and conditions set forth in this Lease, except that minimum rent during the option period shall be due and
payable at the greater of (i) the Rent then in effect under this Lease, and (ii) 95% of the Fair Market Rate (as defined in Exhibit E) per annum (the “Option Rent”), payable at the rate of 1/12th of such amount per calendar month and proportionately at such rate for any partial month. 

If, at the end of the First Option Period described above, Tenant is not in default under any of the terms of this Lease, Tenant shall have
the option to extend the Term of this Lease for an additional five (5) year period (“Second Option Period”). If the Tenant desires to exercise this Second Option Period, then it must notify the Landlord, in writing, of its
election not later than one (1) year prior to the expiration of the First Option Period. If Tenant elects to provide such written notice, then this Lease, shall continue upon all the same terms, covenants and conditions as the original Term,
without the requirement of any further instrument, except as to Basic Rent for the Second Option Period, which shall be determined as follows: 

Minimum rent during the Second Option Period shall be due and payable at the greater of (i) the Option Rent then in effect under this Lease,
and (ii) 95% of the Fair Market Rate (as defined in Exhibit E) per annum, payable at the rate of 1/12th of such amount per calendar month and proportionately at such rate for any
partial month. 
 28. LANDLORD RESERVATIONS. Landlord shall have the right place signs, notices
or displays upon the roof or exterior of the Building or Common Areas of the Project. Landlord reserves the right to use the exterior walls of the Premises, and the area beneath, adjacent to and above the Premises together with the right to install,
use, maintain and replace equipment, machinery, pipes, conduits and wiring through the Premises, which serve other parts of the Project provided that Landlord’s use does not unreasonably interfere with Tenant’s use of the Premises. 

  
 - 32 - 

 29. CHANGES TO PROJECT. Landlord shall
have the right, in Landlord’s sole discretion, from time to time, to make changes to the size, shape, location, number and extent of the improvements comprising the Project, including Common Areas (hereinafter referred to as
“Changes”), provided Landlord shall not make changes to the Premises, the Outdoor Storage Area, if Tenant has leased same, or the Parking Area without Tenant’s prior written consent, which consent shall be in Tenant’s
reasonable discretion. In connection with the Changes, Landlord may, among other things, erect scaffolding or other necessary structures at the Project, limit or eliminate access to portions of the Project, including portions of the Common Areas,
provided Tenant continues to have reasonable and safe means of access to the Premises and the New Dock. Subject to the foregoing provisions of this Section 29, Tenant hereby agrees that such Changes and Landlord’s actions in connection
with such Changes shall in no way constitute a constructive eviction of Tenant or entitle Tenant to any abatement of rent. Subject to the foregoing provisions of this Section 29, Landlord shall have no responsibility or for any reason be liable
to Tenant for any direct or indirect injury to or interference with Tenant’s business arising from the Changes, nor shall Tenant be entitled to any compensation or damages from Landlord for any inconvenience or annoyance occasioned by such
Changes or Landlord’s actions in connection with such Changes. 
 30. HOLDING OVER. If Tenant remains in
possession of the Premises or any part thereof after the expiration or earlier termination of the term hereof with Landlord’s consent, such occupancy shall be a tenancy at sufferance upon all the terms and conditions of this Lease pertaining to
the obligations of Tenant, except that the Base Rent payable during the first thirty (30) days of such period shall be one hundred fifty percent (150%), and thereafter shall be two hundred percent (200%), in either case, of the Base Rent
payable immediately preceding the termination date of this Lease. In addition to the foregoing, if Landlord has advised Tenant in writing that all or any part of the Premises is committed to a new tenant, Tenant shall be liable for, and hereby
agrees to indemnify, hold harmless and defend Landlord from any cost, loss, claim or liability (including attorneys’ fees) Landlord may incur as a result of Tenant’s failure to surrender possession of the Premises to Landlord upon the
termination of this Lease, including all direct or indirect damages, but excluding any punitive or consequential damages. 
 31.
LANDLORD’S ACCESS. 
 31.1
ACCESS. Upon at least one (1) day’s prior notice, except in the case of an emergency when no prior notice shall be required, Tenant shall permit Landlord and its agents to enter into the Premises at
reasonable times to examine the Premises, make such repairs and replacements as Landlord may elect or as Landlord may be required to make, without however, any obligation to do so, and to show the Premises to prospective purchasers, and lenders,
and, during the last year of the term, to show the Premises to prospective tenants; provided, however, that except in the case of an emergency, such access shall only be performed when escorted by a representative of Tenant. Landlord acknowledges
that Tenant intends to use the Premises for the manufacture of products that are confidential and proprietary in nature and, therefore, Landlord covenants that Landlord and its representative (and anyone claiming by, through or under

  
 - 33 - 

 
Landlord) shall execute a confidentiality and non-disclosure agreement reasonably required by Tenant prior to entry into the Premises. 

31.2 KEYS. Landlord shall have the right to retain keys to the locks on the entry doors to the
Premises and all interior doors at the Premises. 
 32. SECURITY MEASURES. Tenant hereby
acknowledges that Landlord shall have no obligation whatsoever to provide guard service or other security measures for the benefit of the Premises or the Project in addition to what Landlord already provides, and Landlord shall have no liability to
Tenant due to its failure to provide such additional services. Tenant assumes all responsibility for the protection of Tenant, its agents, employees, contractors and invitees and the property of Tenant and of Tenant’s agents, employees,
contractors and invitees from acts of third parties. If Landlord elects to provide additional security measures, Landlord shall have no liability to Tenant and its agents, employees, contractors and invitees arising out of Landlord’s negligent
provision of security measures. Landlord shall have the right, but not the obligation, to require all persons entering or leaving the Project to identify themselves to a security guard and to reasonably establish that such person should be permitted
access to the Project. 
 33. INTENTIONALLY OMITTED. 

34. INTENTIONALLY OMITTED. 

35. SEVERABILITY. The invalidity of any provision of this Lease as determined by a court of competent jurisdiction
shall in no way affect the validity of any other provision hereof. 
 36. TIME OF
ESSENCE. Time is of the essence with respect to each of the obligations to be performed by Tenant and Landlord under this Lease. 

37. INTENTIONALLY OMITTED. 

38. INCORPORATION OF PRIOR AGREEMENTS. This Lease and the attachments
listed in Section 1.18 contain all agreements of the parties with respect to the lease of the Premises and any other matter mentioned herein. No prior or contemporaneous agreement or understanding pertaining to any such matter shall be
effective. 
 39. AMENDMENTS. This Lease may be modified in writing only, signed by the parties in interest at
the time of the modification. 
 40. NOTICES. Subject to the further provisions of this Article 40, whenever it
is provided herein that any notice, demand, request, consent, approval or other communication shall or may be given to either of the parties by the other, it shall be in writing and, any law or statute to the contrary notwithstanding, shall not be
effective for any purpose unless same shall be given or served by registered or certified mail, postage prepaid, return receipt requested, or by a recognized national overnight mail carrier such as UPS, Federal Express, or the United States Postal
Service providing evidence of delivery, addressed as provided in Section 1.19, or at such 

  
 - 34 - 

 
other address as either party may from time to time designate by notice to the other as herein provided. Any notice hereunder shall be deemed to have been given or served on the date on which
such notice is delivered to the party intended; delivered to the then designated address of the party intended; rejected at the then designated address of the party intended; or upon inability to deliver because of changed address of which no notice
was given. Notices may be given by a party’s attorney or other representative 
 41. WAIVERS. No waiver by
Landlord or Tenant of any provision hereof shall be deemed a waiver of any other provision hereof or of any subsequent breach by Landlord or Tenant of the same or any other provision. Landlord’s consent to, or approval of, any act shall not be
deemed to render unnecessary the obtaining of Landlord’s consent to or approval of any subsequent act by Tenant. The acceptance of rent hereunder by Landlord shall not be a waiver of any preceding breach by Tenant of any provision hereof, other
than the failure of Tenant to pay the particular rent so accepted, regardless of Landlord’s knowledge of such preceding breach at the time of acceptance of such rent. No acceptance by Landlord of partial payment of any sum due from Tenant shall
be deemed a waiver by Landlord of its right to receive the full amount due, nor shall any endorsement or statement on any check or accompanying letter from Tenant be deemed an accord and satisfaction. Tenant hereby waives for Tenant and all those
claiming under Tenant all rights now or hereafter existing to redeem by order or judgment of any court or by legal process or writ Tenant’s right of occupancy of the Premises after any termination of this Lease. 

42. COVENANTS. This Lease shall be construed as though Landlord’s covenants contained herein are independent
and not dependent and Tenant hereby waives the benefit of any statute to the contrary. All provisions of this Lease to be observed or performed by Tenant are both covenants and conditions. 

43. BINDING EFFECT; CHOICE OF LAW. Subject to any
provision hereof restricting assignment or subletting by Tenant, this Lease shall bind the parties, their heirs, personal representatives, successors and assigns. This Lease shall be governed by the laws of the state in which the Project is located,
and any litigation concerning this Lease between the parties hereto shall be initiated in the county in which the Project is located. 
 44.
ATTORNEYS’ FEES. If Landlord or Tenant brings an action to enforce the terms hereof or declare rights hereunder, the prevailing party in any such action, as determined by the final non-
appealable judgment of a court of competent jurisdiction, shall be entitled to its reasonable attorneys’ fees and court costs to be paid by the losing party as fixed by the court in the same or separate suit, and whether or not such action is
pursued to decision or judgment. Landlord and Tenant agree that attorneys’ fees incurred with respect to defaults and bankruptcy are actual pecuniary losses within the meaning of Section 365(b)(1)(B) of the Bankruptcy Code or any successor
statute. 
 45. AUCTIONS. Tenant shall not conduct, nor permit to be conducted, either voluntarily or involuntarily, any
auction or going-out-of-business sale upon the Premises, the Outdoor Storage Area, the Parking Area, or the Common Areas. 

  
 - 35 - 

 46. MERGER. The voluntary or other surrender of this Lease by Tenant,
or a mutual cancellation thereof, or a termination by Landlord, shall not result in the merger of Landlord’s and Tenant’s estates and shall, at the option of Landlord, terminate all or any existing subtenancies or may, at the option of
Landlord, operate as an assignment to Landlord of any or all of such subtenancies. 
 47. QUIET
POSSESSION. Subject to the other terms and conditions of this Lease, and provided Tenant is not in default hereunder beyond applicable notice and cure periods, Landlord covenants that Tenant shall have quiet
possession of the Premises for the entire term hereof subject to all of the provisions of this Lease. 
 48. INTENTIONALLY
OMITTED 
 49. MULTIPLE PARTIES. If more than one person or
entity is named as Tenant herein, the obligations of Tenant shall be the joint and several responsibility of all persons or entities named herein as Tenant. Service of a notice in accordance with Section 40 on one Tenant shall be deemed service
of notice on all Tenants. 
 50. INTERPRETATION. This Lease shall be interpreted as if it was prepared by both
parties, and ambiguities shall not be resolved in favor of Tenant because all or a portion of this Lease was prepared by Landlord. The captions contained in this Lease are for convenience only and shall not be deemed to limit or alter the meaning of
this Lease. As used in this Lease, the words tenant and landlord include the plural as well as the singular. Words used in the neuter gender include the masculine and feminine gender. 

51. PROHIBITION AGAINST RECORDING. Neither this Lease, nor any memorandum, affidavit
or other writing with respect thereto, shall be recorded by Tenant or by anyone acting through, under or on behalf of Tenant. 
 52.
RELATIONSHIP OF PARTIES. Nothing contained in this Lease shall be deemed or construed by the parties hereto or by any third party to create the relationship of principal and
agent, partnership, joint venturer or any association between Landlord and Tenant. 
 53. SECURITY
INTEREST. Landlord hereby waives any statutory or other form of landlord lien in any of the Tenant’s furnishings, fixtures, equipment, proceeds or other personal property or fixtures. From time to time upon
Tenant’s reasonable written request, Landlord agrees to furnish Tenant or any vendor or other supplier under any conditional sale, chattel mortgage or other security arrangement, any consignor, any holder of reserved title or any holder of a
security interest, with a waiver of Landlord’s lien upon Tenant’s trade fixtures, furnishings, signs, equipment, machinery, inventory and personal property in or on the Premises. 

54. RULES AND REGULATIONS. Tenant agrees to abide by and conform to the rules and
regulations set forth on Exhibit C and all other reasonable rules and regulations as Landlord may from time to time adopt, provided that at least thirty (30) days’ prior written notice thereof is given to Tenant and such rules are not adverse
to Tenant’s rights under this Lease, and to cause 

  
 - 36 - 

 
its employees, suppliers, customers and invitees to so abide and conform. Landlord shall not be responsible to Tenant for the failure of other persons, including, but not limited to, other
tenants, their agents, employees and invitees, to comply with such rules and regulations. 
 55. RIGHT TO
LEASE. Landlord reserves the absolute right to effect such other tenancies in the Project as Landlord in its sole discretion shall determine, and Tenant is not relying on any representation that any specific
tenant or number of tenants will occupy the Project. 
 56. WAIVER OF JURY
TRIAL. LANDLORD AND TENANT HEREBY WAIVE THEIR RESPECTIVE RIGHT TO TRIAL BY JURY OF ANY CAUSE OF ACTION, CLAIM, COUNTERCLAIM OR CROSS-COMPLAINT IN ANY ACTION, PROCEEDING AND/OR HEARING BROUGHT BY EITHER LANDLORD
AGAINST TENANT OR TENANT AGAINST LANDLORD ON ANY MATTER WHATSOEVER ARISING OUT OF, OR IN ANY WAY CONNECTED WITH, THIS LEASE, THE RELATIONSHIP OF LANDLORD AND TENANT, TENANT’S USE OR OCCUPANCY OF THE PREMISES, OR ANY CLAIM OF INJURY OR DAMAGE,
OR THE ENFORCEMENT OF ANY REMEDY UNDER ANY LAW, STATUTE, OR REGULATION, EMERGENCY OR OTHERWISE, NOW OR HEREAFTER IN EFFECT. 
 LANDLORD AND TENANT
ACKNOWLEDGE THAT THEY HAVE CAREFULLY READ AND REVIEWED THIS LEASE AND EACH TERM AND PROVISION CONTAINED HEREIN AND, BY EXECUTION OF THIS LEASE, SHOW THEIR INFORMED AND VOLUNTARY CONSENT THERETO. THE PARTIES HEREBY AGREE THAT, AT THE TIME THIS LEASE
IS EXECUTED, THE TERMS OF THIS LEASE ARE COMMERCIALLY REASONABLE AND EFFECTUATE THE INTENT AND PURPOSE OF LANDLORD AND TENANT WITH RESPECT TO THE PREMISES. TENANT AND LANDLORD EACH ACKNOWLEDGES THAT IT HAS BEEN GIVEN THE OPPORTUNITY TO HAVE THIS
LEASE REVIEWED BY ITS RESPECTIVE LEGAL COUNSEL PRIOR TO ITS EXECUTION. PREPARATION OF THIS LEASE BY LANDLORD OR LANDLORD’S AGENT AND SUBMISSION OF SAME TO TENANT SHALL NOT BE DEEMED AN OFFER BY LANDLORD TO LEASE THE PREMISES TO TENANT OR THE
GRANT OF AN OPTION TO TENANT TO LEASE THE PREMISES. THIS LEASE SHALL BECOME BINDING UPON LANDLORD ONLY WHEN FULLY EXECUTED BY BOTH PARTIES AND WHEN LANDLORD HAS DELIVERED A FULLY EXECUTED ORIGINAL OF THIS LEASE TO TENANT. 

57. Force Majeure. Neither Landlord nor Tenant shall be liable for failure to perform any obligation under this Lease, except for the payment of
money, in the event it is prevented from so performing by strike, lockout, breakdown, accident, order or regulation of or by any governmental authority or failure to supply or inability by the exercise of reasonable diligence to obtain supplies,
parts or employees necessary to furnish such services or because of war or other emergency or for any other cause beyond its reasonable control, but financial inability shall never be deemed to be a cause beyond a party’s reasonable control,
and in no event shall either party be excused or delayed in the payment of any money due under this Lease by reason of any of the foregoing. 

  
 - 37 - 

 58. New Building Option. The parties have discussed the possibility that Landlord may construct a
new building in the Project for Tenant of the approximate dimensions of the Building in the location shown on Exhibit A as the “New Building Location” and with similar appurtenances (a “New Building”). Landlord
agrees that it will not enter into negotiations with any other party for the construction or occupancy of a New Building without first giving Tenant an opportunity to negotiate with Landlord for Tenant’s use of a New Building. Nothing in this
Lease is intended to bind either Landlord or Tenant with respect to a New Building, and the parties expressly acknowledge that a New Building will be constructed for Tenant, if at all, only on terms and conditions as may be mutually agreed upon by
Landlord and Tenant. 
 WITNESS the execution hereof in any number of counterpart copies, each of which shall be deemed an original
for all purposes as of the day and year first above-written. 
  

									
		 		 	LANDLORD:
			
		 		 	 BORDEN & REMINGTON FALL RIVER LLC,

a Delaware limited liability company

				
		 		 	By:	 	 /s/ Robert F. Bogan

		 		 		 	Its:	 	  

			
		 		 	TENANT:
			
	ATTEST:	 		 	 TPI, INC.,
 a Delaware
Corporation

	  
	 		 	
		 		 	By:	 	 /s/ Ed da Silva

					
		 		 		 	Print name:	 	 ED DA SILVA

					
		 		 		 	Its:	 	  

		 		 		 		 	 Vice President, General Manager
 Hereto duly
authorized

  
 - 38 - 

 EXHIBIT A 

SITE PLAN 
 [see attached]

  
 A-1 

 EXHIBIT F 

Form of Confidentiality Agreement 

MUTUAL NON-DISCLOSURE AGREEMENT 

This Mutual Non-Disclosure Agreement is made and entered into by execution of this document or a duplicate hereof effective this 6/28/2010, by
and between, TPI, Inc. a company established under the laws of Delaware and having its registered offices at 8501 N. Scottsdale Rd., Suite 280, Scottsdale, Arizona 85253, as well as all of its subsidiaries, affiliates divisions and units of
such corporation, entities or businesses related in any way to TPI, Inc., including, but not limited to joint ventures (hereinafter referred to as “TPI”) and BR/FR LLC, having its registered offices at 63 WATER ST. (hereinafter
referred to as “    ”). The term “Party” or “Parties” as used herein refers to one or both of the foregoing entities, depending on context. 

WHEREAS, TPI has entered into that certain lease dated 6/28/2010 with Borden & Remington Fall River LLC (the “Lease”); 

WHEREAS, TPI is willing to provide BR/FR, LLC certain of the Company’s confidential Financial Data, as defined below; and 

WHEREAS, the Parties desire to define and set out the terms and conditions which prevent each of the Parties from any unlawful or unauthorized
disclosure of confidential Financial Data as stipulated hereinbelow. 
 NOW, THEREFORE, in consideration of the terms and conditions
hereinafter set forth, the Parties agree as follows: 
 “Financial Data,” as used herein shall inlude, but is not limited to, any
balance sheets, income statements, consolidated financial statements, statements of retained earnings and/or expenses, marketing, customer and product development plans, forecasts, strategies and other financial information of the Disclosing Party
previously, presently, or subsequently disclosed. 
 Such Financial Data shall not include information which (1) is in or (other than by
an act attributable to the Receiving Party) passes into the public domain; (2) was in the possession of the Receiving Party prior to disclosure thereof by or on behalf of the Disclosing Party; (3) is disclosed to the Receiving Party by a
third party who lawfully possesses such information and who is duly authorized or otherwise entitled to disclose such information; (4) is disclosed pursuant to the order or requirement of a government body, court or administration agency; or
(5) is independently developed by an employee of the Receiving Party who has not had access to the information disclosed hereunder. 

1. Financial Data shall be held in strict confidence by Receiving Party and shall not be used by Receiving Party except in connection with the
purposes described in the Lease or in the case where disclosure of the same is required under applicable law or by a governmental order, rule or regulation or by the regulations of any relevant stock exchange or other governmental authority

  
 E-1 

 
(provided that the Receiving party shall give written notice of such required disclosure to the other party prior to the disclosure). 

Such consent to disclose Financial Data to employees, attorneys or accountants of Receiving Party or its affiliated company (“affiliated
Receiving Party”) with a legitimate “need to know” and only for the purposes described in this Agreement is herewith given, but further consent shall be required for disclosure to others or authorization of use by others. For purposes
of this Confidentiality Agreement, an “affiliated Receiving Party” means and includes a parent, if any, of Receiving Party and all present and future companies in which Receiving Party, or its parent, individually or collectively, directly
or indirectly, through one or more intermediaries, owns or controls fifty percent (50%) or more of the outstanding stock having the right to vote for or appoint directors thereof. Prior to any use or disclosure of Proprietary Information by or
to another, Receiving Party shall ensure that the recipient has entered into an agreement limiting the recipient’s disclosure and use of Proprietary Information consistent with this Agreement. 

2. Within ninety (90) days following receipt of the Financial Data, the Receiving Party will turn over to the Disclosing Party all
Financial Data of the Disclosing Party and all documents or media containing any such Financial Data and any and all copies or extracts thereof or upon request of the Disclosing Party, the Receiving Party shall certify in writing that all materials
containing Financial Data (including all copies thereof) have been destroyed. The Receiving Party understands that nothing herein (a) requires the disclosure of any Financial Data of the Disclosing Party, which shall be disclosed if at all
solely at the option of the Disclosing Party, or (b) requires the Disclosing Party to proceed with any proposed transaction or relationship in connection with which Proprietary Information may be disclosed. 

3. No rights or obligations other than those expressed and recited herein are to be implied from this Agreement. 

4. The Parties acknowledge and agree that due to the unique nature of the Disclosing Party’s Proprietary Information, money damages will
not be a sufficient remedy for a breach of this Agreement. Because a violation of any of the provisions of this Agreement will likely cause irreparable loss and harm which cannot be reasonably or adequately compensated by damages in an action at
law, the Disclosing Party will be entitled to specific performance and injunctive relief or other appropriate equitable relief as remedies for any such breach. Such remedies will not be deemed to be the exclusive remedies for a breach of this
Agreement but will be in addition to all other remedies available at law or in equity to the Disclosing Party. 
 5. This Agreement shall be
governed and construed in accordance with the laws of Delaware, without regard to conflicts of law principles. Any dispute, controversy and/or difference which may arise between the Parties out of or in relation to or in connection with this
Agreement, or the breach thereof, which cannot be settled by amicable mutual accord without undue delay, shall be filed in the courts of Delaware. 

6. This Agreement constitutes the entire agreement of the Parties hereto with respect to the subject matter hereof and supersedes and cancels
all prior communications, understandings and agreements between the Parties hereto relating to the Proprietary Information, whether written or oral, expressed or implied. The Parties agree that this Agreement is severable and that in the event any
provision of this Agreement is held to be illegal, invalid or unenforceable, the legality, validity and enforceability of the remaining provisions will not be affected or impaired. 

  
 E-2 

 IN WITNESS WHEREOF, the parties have respectively caused duplicates of this document to be
executed on their behalf by their proper officers and employees thereunto duly authorized. 
  

									
	[TPI, Inc.]	 		 	[Insert Company]
					
	By:	 	 /s/ Ed da Silva
	 		 	By:	 	 /s/ Robert F. Bogan

		 	(Signature)	 		 		 	(Signature)
					
	Name:	 	 ED DA SILVA
	 		 	Name:	 	 ROBERT BOGAN

		 	(Print)	 		 		 	(Print)
					
	Title:	 	 Vice President/General Manager
	 		 	Title:	 	 MANAGER

  
 E-3 

 

 

 

 

 EXHIBIT B 

Description of Landlord’s Work and Tenant’s Work 

(See Attached) 

  
 B-1 

 Exhibit B Description of Landlord’s Work and Tenant’s Work 

Landlord’s work 
 The Landlord agrees to
provide all permitting, engineering, equipment, supplies and labor to perform the below listed work. The schedule provided here is for planning purposes only and does not necessarily obligate the Landlord to complete the work by the date indicated.
The landlord understands that time is of the essance. The schedule is dependent on a start date of June 14, 2010. The schedule is extended accordingly as the start date is prolonged. No work will be performed by the Landlord without a signed
Lease Agreement in place. 
  

																									
	 	 	2010	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 Building #2: Phase 1
	 	 June
	 	 July
	 	 Augu
	 	 Septem
	 	 October
	 	 Nove
	 	 Dece
	 	 Janua
	 	 SEP
	 	 OCT
	 	 NOV
	 	 DEC

	1) Remove all abandoned process equipment and utilities to accommodate tenant build out.	 		 		 		 		 		 		 		 		 		 		 		 	
	2) Provide and install one central electrical service location inclusive of all necessary equipment to facilitate service of 400 amp/480 v	 		 		 		 		 		 		 		 		 		 		 		 	
	3) Provide and install light fixtures and bulbs to effect illumination of 50 footcandles.	 		 		 		 		 		 		 		 		 		 		 		 	
	4) Provide and install water, electric and natural gas supplies to Bld 2 to accommodate discrete utility metering and billing	 		 		 		 		 		 		 		 		 		 		 		 	
	5) Remove and fill designated floor drains and tranches and fill with concrete.	 		 		 		 		 		 		 		 		 		 		 		 	
	6) All trenches, holes, ruts and other floor surface irregularities are filled with concrete and finished to match existing floor.	 		 		 		 		 		 		 		 		 		 		 		 	
	7) Provide comfort heat with the provision of multiple gas fired, hot air furnaces (floor units) capable of maintaining interior at 75° F	 		 		 		 		 		 		 		 		 		 		 		 	
	8) Provide natural gas piping to accommodate possible future hot air furnace installation.	 		 		 		 		 		 		 		 		 		 		 		 	
	9) Remove light passage in roof area and insulate Building to accomplish item #7	 		 		 		 		 		 		 		 		 		 		 		 	
	10) Render existing roof and all appurtenants water tight.	 		 		 		 		 		 		 		 		 		 		 		 	
	11) Existing offices are thoroughly cleaned and painted	 		 		 		 		 		 		 		 		 		 		 		 	
	12) Remove existing storage tanks.	 		 		 		 		 		 		 		 		 		 		 		 	
	13) Extend and widen ramp to accommodate extended trailer egress into the building and remove fire hydrant	 		 		 		 		 		 		 		 		 		 		 		 	

 Tenant’s Work 

Tenant is responsible for and shall provide all permitting, engineering, equipment, supplies and labor to facilitate all process related installations and
activities including all; 
 1) Utility related conduits, wiring, piping and equipment down stream of that supplied by the Landlord. 

2) Environmental, health and safety permits inclusive of “Permit by Rule” applicabilities and local sewer permits. 

3) Crane and hoisting equipment. 
 4) Comfort cooling 

5) Remove two to three center columns and install spam beam 
  

	*	In addition to the work described above, Landlord and Tenant shall agree upon a defined scope of work, alterations and Improvements for the Outdoor Storage Area Option set forth In Section 2.2 of the Lease upon
receipt of Tenant’s OSA Notice as described therein, which shall Included but not be limited to the following: 1) Razing the Outdoor Storage Area (3 buildings, smoke stack, storage tanks and seawall); 2) Redeveloping the site to allow Tenant to
store and ship large scale wind turbine blades up to 200’ feet in length; 3) Constructing a new dock to a level of comparable quality and functionality of the existing docks that provide access to Mount Hope Bay; 4) Installation of separate gas
and electric meters; and 5) such other work as Landlord and Tenant may mutually agree upon. 

 Landlord and Tenant shall also agree
upon a defined scope of work, alterations and Improvements for the New Building Option set forth In Section 57 of the Lease, should Tenant elect to pursue this Option. 

 EXHIBIT C 

RULES AND REGULATIONS 

GENERAL RULES 
 Tenant shall faithfully observe
and comply with the following Rules and Regulations: 
 1. Tenant shall not alter any locks or install any new or additional locks or bolts on any doors or
windows of the Premises without obtaining Landlord’s prior written consent. Tenant shall bear the cost of any lock changes or repairs required by Tenant. 

2. Access to the Project may be refused unless the person seeking access has proper identification or has a previously received authorization for access to
the Project. Landlord and its agents shall in no case be liable for damages for any error with regarding to the admission to or exclusion from the Project of any person. In case of invasion, mob, riot, public excitement or other commotion, Landlord
reserves the right to prevent access to the Project during the continuance thereof by any means it deems appropriate for the safety and protection of life and property. 

3. No cooking shall be done or permitted on the Premises, nor shall the Premises be used for any improper, objectionable or immoral purposes. Notwithstanding
the foregoing, Underwriters’ Laboratory-approved equipment and microwave ovens may be used in the Premises for heating food and brewing coffee, tea, hot chocolate and similar beverages for employees and visitors of Tenant, provided that such
use is in accordance with all applicable federal, state and city laws, codes, ordinances, rules and regulations; and provided further that such cooking does not result in odors escaping from the Premises. 

4. No boring or cutting for wires shall be allowed without the consent of Landlord. Tenant shall not install any radio or television antenna, satellite dish,
loudspeaker or other device on the roof or exterior walls of the Building. Tenant shall not interfere with broadcasting or reception from or in the Project or elsewhere. 

5. Landlord reserves the right to exclude or expel from the Project 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 these Rules and Regulations. 
 6. Tenant shall store all its trash and
garbage within the interior of the Premises or in other locations approved by Landlord, in Landlord’s sole discretion. No material shall be placed in the trash boxes or receptacles if such material is of such nature that it may not be disposed
of in the ordinary and customary manner of removing and disposing of trash in the vicinity of the Project without violation of any law or ordinance governing such disposal. 

  
 C-1 

 7. Tenant shall comply with all safety, fire protection and evacuation procedures and regulations established by
Landlord or any governmental agency. 
 PARKING RULES 

1. Tenant shall not permit or allow any vehicles that belong to or are controlled by Tenant or Tenant’s employees, suppliers, shippers, customers or
invitees to be loaded, unloaded or parked in areas other than in the Parking Area. Users of the Parking Area will obey all posted signs and park only in the areas designated for vehicle parking. Tenant and its customers, employees, shippers and
invitees shall comply with all rules and regulations adopted by Landlord from time to time relating to truck parking and/or truck loading and unloading. 

2. Landlord will not be responsible for any damage to vehicles, injury to persons or loss of property, all of which risks are assumed by the party using the
Parking Area. 
 3. The maintenance, washing, waxing or cleaning of vehicles in the Parking Area or Common Areas is prohibited. 

4. Tenant shall be responsible for seeing that all of its employees, agents, contractors and invitees comply with the applicable parking rules, regulations,
laws and agreements. 
 5. At Landlord’s request, Tenant shall provide Landlord with a list which includes the name of each person using the parking
facilities based on Tenant’s parking rights under this Lease and the license plate number of the vehicle being used by that person. Tenant shall provide Landlord with an updated list within five (5) days after any part of the list becomes
inaccurate. 
 Landlord reserves the right at any time to change or rescind any one or more of these Rules and Regulations, or to make such other and
further reasonable Rules and Regulations as in Landlord’s judgment may from time to time be necessary for the management, safety, care and cleanliness of the Project, and for the preservation of good order therein, as well as for the
convenience of other occupants and tenants therein. Landlord may waive any one or more of these Rules and Regulations for the benefit of any particular tenant, but no such waiver by Landlord shall be construed as a waiver of such Rules and
Regulations in favor of any other tenant, nor prevent Landlord from thereafter enforcing any such Rules or Regulations against any or all tenants of the Project. Tenant shall be deemed to have read these Rules and Regulations and to have agreed to
abide by them as a condition of its occupancy of the Premises. 

  
 C-2 

 EXHIBIT D 

Form of HazMat Certificate [UNDER REVIEW BY TENANT] 

General Information 
  

			
	Name of Responding Company:		 TPI Composites

 

			
	Mailing Address:		 373 Market St. Warren RI 02885

 

			
	Signature:		 /s/ Illegible

  

									
	Title:		 Corporate Illegible Engineer
				Phone:		 401 247 4096

 

											
	 Date:
		 12-9-09
				Age of Facility:		  
		

					
	 Length of Occupancy:
		  
		

  

			
	Major products manufactured and/or activities conducted on the property:		 Composites tooling and products

	  

	  

  

							
	Type of Business Activity(ies):		Hazardous Materials Activities:
	(check all that apply)		(check all that apply)
				
	              
		machine shop		              
		degreasing
	              
		light assembly		              
		chemical/etching/milling
	              
		research and development		              
		wastewater treatment
	              
		product service or repair		 ü
		painting
	              
		photo processing		              
		striping
	              
		automotive service and repair		              
		cleaning
	 ü
		manufacturing		              
		printing
	              
		warehouse		              
		analytical lab
	              
		integrated/printed circuit		              
		plating
	              
		chemical/pharmaceutical product		              
		chemical/missing/synthesis
					              
		silkscreen
					              
		lathe/mill machining
					              
		deionizer water product
					              
		photo masking
					              
		wave solder
					              
		metal finishing

 HAZARDOUS MATERIALS/WASTE HANDLING AND STORAGE 

  
 C-1 

 A. Are hazardous materials handled on any of your shipping and receiving docks in container quantities greater
than one
gallon?      ü      Yes                 
 No 
 B. If Hazardous materials or waste are stored on the premises, please check off the nature of the storage and type(s) of materials below: 

 

									
	Types of Storage Container		Type of Hazardous Materials and/or Waste Stored
	(list above-ground storage only)						
					
	 ü
		1 gallon or 3 liter bottles/cans				              
		acid
	 ü
		5 to 30 gallon carboys				              
		phenol
	 ü
		55 gallon drums				              
		caustic/alkaline cleaner
	 ü
		tanks				              
		cyanide
							              
		photo resist stripper
							 ü
		paint
							 ü
		flammable solvent
							              
		gasoline/diesel fuel
							              
		nonflammable/chlorinated solvent
							              
		oil/cutting fluid

  

	C.	Do you accumulate hazardous waste onsite?
      ü      Yes                  No

 If yes, how is it being handled? 
  

							
	              
		on-site treatment or recovery				
	              
		discharged to sewer				

							
	 ü
		hauled offsite		If hauled offsite, by whom  		 Ashland Environmental

	              
		incineration				

  

	D.	Indicate your hazardous waste storage status with Department of Health Services: 

  

			
	 ü
		generator
	              
		interim status facility
	              
		permitted TSDF
	              
		none of the above

 WASTEWATER TREATMENT/DISCHARGE 

 

	A.	Do you discharge industrial wastewater to: 

  

			
	              
		sewer

  
 C-2 

			
	              
		storm drain
	              
		surface water
	 ü
		no industrial discharge

  

	B.	Is your industrial wastewater treated before
discharge?                Yes                  No

  

			
	If yes, what type of treatment is being conducted?
		
	              
		neutralization
	              
		metal hydroxide formation
	              
		closed-loop treatment
	              
		cyanide destruct
	              
		HF treatment
	              
		other

 SUBSURFACE CONTAINMENT OF HAZARDOUS MATERIALS/WASTES 

 

	A.	Are buried tanks/sumps being used for any of the following: 

  

			
	              
		hazardous waste storage
	              
		chemical storage
	              
		gasoline/diesel fuel storage
	              
		waste treatment
	              
		wastewater neutralization
	              
		industrial wastewater treatment
	 ü
		none of the above

  

	B.	If buried tanks are located onsite, indicate their construction: 

  

											
	              
		steel		              
		fiberglass		              
		concrete
	              
		inside open vault		              
		double walled				

 C. Are hazardous materials or untreated industrial wastewater transported via buried piping to tanks, process areas or
treatment
areas?                Yes      ü      No 

 

	D.	Do you have wet floors in your process areas?                Yes      ü      No 

  

			
	If yes, name processes:		  

  

	E.	Are abandoned underground tanks or sumps located on the property?                Yes      ü      No 

  
 C-3 

 HAZARDOUS MATERIALS SPILLS 

 

	A.	Have hazardous materials ever spilled to: 

  

			
	              
		the sewer
	              
		the storm drain
	              
		onto the property
	 ü
		no spills have occurred

  

	B.	Have you experienced any leaking underground tanks or sumps?                Yes      ü      No 

  

	C.	If spills have occurred, were they
reported?                Yes                  No

 Check which the government agencies that you contacted regarding the spill(s): 

 

			
	              
		Department of Environmental Protection
	              
		Department of Health Services
	              
		Department of Fish and Game
	              
		Environmental Protection Agency
	              
		Regional Water Quality Control Board
	              
		Fire Department

  

	D.	Have you been contacted by a government agency regarding soil or groundwater contamination on your site? 

              Yes      ü      No 
 Do you have exploratory wells
onsite?                Yes      ü      No 

If yes, indicate the following: 
  

					
	Number of wells:          		Approximate depth of wells:              		
	Well diameters:                      				

 PLEASE ATTACH ENVIRONMENTAL REGULATORY PERMITS, AGENCY REPORTS THAT APPLY TO YOUR OPERATION AND HAZARDOUS WASTE MANIFESTS.

 Check off those enclosed: 
  

			
	              
		Hazardous Materials Inventory Statement, HMIS

  
 C-4 

			
	              
		Hazardous Materials Management Plan, HMMP
	              
		Department of Health Services, Generatory Inspection Report
	              
		Underground Tank Registrations
	              
		Industrial Wastewater Discharge Permit
	              
		Hazardous Waste Manifest

  
 C-5 

 EXHIBIT E 

Determination of Fair Market Rent 

The “Fair Market Rate” of Base Rent and Outdoor Storage Area Rent, if applicable, shall be a rate substantially comparable to the
market rate then being charged by Landlord as minimum rent for other tenants in the Project, and said Fair Market Rate shall be determined as follows: Landlord will notify Tenant of its determination of Fair Market Rate not later than thirty
(30) days after receipt of Tenant’s notice of extension. If Tenant agrees with Landlord’s determination, then such Fair Market Rate shall apply for the option period. If Tenant disagrees with Landlord’s determination and notifies
Landlord thereof specifying Tenant’s estimate of a Fair Market Rate (and the basis therefor) within thirty (30) days of Tenant’s receipt of notice from Landlord of Landlord’s said determination of the Fair Market Rate, then
Landlord and Tenant shall negotiate in good faith to reach agreement for the purposes hereof on a Fair Market Rate. If Landlord and Tenant do not reach agreement on a Fair Market Rate within thirty (30) days after Landlord’s receipt of
Tenant’s said notice of disagreement, then Tenant shall have the right to rescind its notice of extension or agree to have the Rent determined by appraisal as follows. If the Rent for the option period is to be determined by appraisal, each of
Landlord and Tenant shall promptly designate a commercial real estate broker, agent, or appraiser (each an “Appraiser”) with at least ten (10) years’ experience (the majority of which experience relates to industrial project
leasing in the Commonwealth of Massachusetts) to determine said Fair Market Rate. If such Appraisers shall agree on such Fair Market Rate (and for the purposes hereof, if such Appraisers shall determine such Fair Market Rate and the higher such
determination is no more than 110% of the lower such determination, then said Appraisers shall be deemed to have agreed upon a Fair Market Rate equal to the average of such determinations), then the agreement of said Appraisers, as aforesaid, shall
be deemed to be said Fair Market Rate and shall be binding upon the parties hereto; but if said Appraisers do not agree as aforesaid within thirty (30) days after being instructed so to do and Landlord and Tenant are unable promptly thereafter
to agree on such Fair Market Rate, then said Appraisers shall together promptly appoint a third such appraiser (from a firm other than those with which the initial Appraisers are associated) and the determination of the third such Appraiser shall be
deemed to be said Fair Market Rate and shall be binding upon the parties hereto (but in no event shall such determination be less than the lower amount or more than the higher amount of the determinations of the initial two Appraisers). Any fees and
costs thus incurred shall be paid to the Appraiser designated by the designating party and shared equally by Landlord and by Tenant for any such third Appraiser. As soon as all pertinent facts are known and determinations made, the parties agree to
execute and deliver to each other a writing confirming the Fair Market Rate of Rent so determined, as amended by the Amendment. Until the Fair Market Rate has been determined as aforesaid, Tenant shall pay Base Rent at the rate paid during the last
year of the initial term of this Lease. As soon as the Fair Market Rate is so determined, any required financial adjustment shall be made and Tenant shall forthwith pay to Landlord the excess, if any, of Rent payable for the applicable period over
the Rent previously paid therefor. 

  
 D-1 

 SECOND AMENDMENT TO LEASE BETWEEN BORDEN & REMINGTON FALL RIVER LLC. AND TPI

 This Second Amendment to Lease (this “Second Amendment”) is made as of July 1, 2015 by and between BORDEN &
REMINGTON FALL RIVER LLC, a Delaware limited liability company (“Landlord”) and TPI, Inc. a Delaware corporation (“Tenant”); 

WITNESSETH 
 WHEREAS
Landlord and Tenant are the current parties to that certain Standard Industrial Lease dated July 1, 2010, the “Lease”, pursuant to which Landlord is leasing to Tenant 70,000 square feet of Building #2, the
“Premises”, located at 63 Water Street, Fall River, MA; 
 WHEREAS, Landlord and Tenant wish to amend the Lease as
hereinafter set forth for an additional 60 months with no annual increases. 
 NOW THEREFORE, in consideration of the covenants herein
reserved and contained, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant hereby agree as follows: 

MONTHLY BASE RENT:
$402,500 per year (computed on the basis of $5.75 per square foot of the Premises), payable monthly at the rate of $33,541.66 per month. 

ASSIGNMENT AND SUBLETTING. 

LANDLORD’S CONSENT
REQUIRED. Tenant shall not voluntarily or by operation of law assign, transfer, hypothecate, mortgage, sublet, or otherwise transfer or encumber all or any part of Tenant’s
interest in this Lease or in the Premises (hereinafter collectively a “Transfer”), without in each instance having received Landlord’s prior written consent. If Tenant requests a Transfer, Landlord shall respond to
Tenant’s written request for consent hereunder within thirty (30) days after Landlord’s receipt of the written request from Tenant. Any attempted Transfer without such consent shall be void and shall constitute a material default and
breach of this Lease. Tenant’s written request for Landlord’s consent shall include, and Landlord’s fifteen (15) day response period referred to above shall not commence, unless and until Landlord has received from Tenant, all of
the following information: (a) financial statements for the proposed assignee or subtenant for the past two (2) years prepared in accordance with generally accepted accounting principles; 

  
 1 

 
provided, however, the release of financial statements to Landlord may be subject to a confidentiality agreement in the form of Exhibit F attached hereto, if required by the proposed
transferee, (b) a TRW credit report or similar report on the proposed assignee or subtenant, (c) a detailed description of the business the assignee or subtenant intends to operate at the Premises, (d) the proposed effective date of
the assignment or sublease, (e) a copy of the proposed sublease or assignment agreement or a draft thereof, (f) a detailed description of any ownership or commercial relationship between Tenant and the proposed assignee or subtenant,
(g) a detailed description of any Alterations the proposed assignee or subtenant desires to make to the Premises, and (h) a Hazardous Materials Disclosure Certificate substantially in the form of Exhibit D attached hereto (the
“Transferee HazMat Certificate”). If the obligations of the proposed assignee or subtenant will be guaranteed by any person or entity, Tenant’s written request shall not be considered complete until the information described in
(a) and (b) of the previous sentence has been provided with respect to each proposed guarantor. 
 “Transfer”
shall also include the transfer (a) if Tenant is a corporation, and Tenant’s stock is not publicly traded over a recognized securities exchange, of more than fifty percent (50%) of the voting stock of such corporation during the term
of this Lease (whether or not in one or more transfers) or the dissolution, merger or liquidation of the corporation, or (b) if Tenant is a partnership, limited liability company, limited liability partnership or other entity, of more than
fifty percent (50%) of the profit and loss participation in such partnership or entity during the term of this Lease (whether or not in one or more transfers) or the dissolution or liquidation of the partnership, limited liability company,
limited liability partnership or other entity. If Landlord shall deny a request for consent to a proposed assignment or sublease, Tenant shall indemnify, defend and hold Landlord harmless from and against any and all losses, liabilities, damages,
costs and claims that may be made against Landlord by the proposed assignee or subtenant, or by any brokers or other persons claiming a commission or similar compensation in connection with the proposed assignment or sublease. 

STANDARD FOR APPROVAL. Landlord shall not unreasonably withhold its consent to a
Transfer provided that Tenant has complied with each and every requirement, term and condition of this Section 15. Tenant acknowledges and agrees that each requirement, term and condition in this Section 15 is a reasonable requirement,
term or condition. It shall be deemed reasonable for Landlord to withhold its consent to a Transfer if any requirement, term or condition of this Section 15 is not complied with or: (a) if a change in use is proposed in connection with a
Transfer, the Transfer would cause Landlord to be in violation 

  
 2 

 
of its obligations under another lease or agreement to which Landlord is a party; (b) if the net worth of the proposed assignee is less than the net worth of Tenant as of the date of this
Lease; (c) a proposed assignee’s or subtenant’s business will impose a greater burden on the Project’s parking facilities, Common Areas or utilities or pose a greater environmental risk than the burden imposed by Tenant, in
Landlord’s reasonable judgment; (d) a proposed assignee or subtenant refuses to enter into a written assignment agreement or sublease, reasonably satisfactory to Landlord, which provides that it will abide by and assume all of the terms
and conditions of this Lease for the term of any assignment or sublease and containing such other terms and conditions as Landlord reasonably deems necessary; (e) the use of the Premises by the proposed assignee or subtenant will not be a use
permitted by this Lease; (f) any guarantor of this Lease refuses to consent to the Transfer or to execute a written agreement reaffirming the guaranty; (g) there is an Event of Default as defined in Section 16 at the time of the
request; (h) subject to the provisions of Section 26, if requested by Landlord, the assignee refuses to sign a non-disturbance and attornment agreement in favor of Landlord’s lender; (i) Landlord has sued or been sued by the
proposed assignee or subtenant or has otherwise been involved in a legal dispute with the proposed assignee or subtenant; (j) the assignee or subtenant is involved in a business which is not in keeping with the then-current standards of the
Project or which is the same type of business then being conducted by Landlord in the Project; (k) or the assignee or subtenant will use, store or handle Hazardous Materials which do not comply with the provisions of Section 25.3. 

PERMITTED TRANSFERS. The provisions of this Section 15 shall not, however, be applicable, and
Landlord’s consent shall not be required for an assignment of this lease by the Tenant to its wholly owned subsidiary or to its immediate controlling entity (“Parent”) or to any other entity which is under common control with
Tenant (for such period of time as such entity remains such a subsidiary, controlling entity or affiliate, respectively, it being agreed that the subsequent sale or transfer of stock resulting in a change in voting control, or any other
transaction(s) having the overall effect that such entity ceases to be such a subsidiary, controlling entity or affiliate, respectively, of the Tenant, shall be treated as if such sale or transfer or transaction(s) were, for all purposes, an
assignment of this lease governed by the provisions of this Section 15), provided (and it shall be a condition of the validity of any such assignment) that such wholly owned subsidiary, controlling entity or affiliate as applicable, first agree
directly with the Landlord to be bound by all of the obligations of the Tenant hereunder, including, without limitation, the obligation to pay the rent and other amounts provided for under this lease, the covenant to use the demised premises only
for the purposes specifically permitted under this lease and the covenant against further assignment without Landlord’s consent, but such assignment shall not relieve the Tenant herein named of any of its obligations hereunder, and the Tenant
shall 

  
 3 

 
remain fully liable therefor. In addition, no consent of Landlord shall be required in connection with the initial public offering of Tenant’s stock or the registration of Tenant’s
stock on any nationally recognized stock exchange. 
 Notwithstanding the foregoing provisions of this Section 15, in the event that
substantially all of the operations of the Tenant, are being transferred to another entity by way of merger, consolidation or sale of substantially all of the stock therein or assets thereof, Landlord’s consent shall not be required to an
assignment of this lease to said resulting or acquiring entity or to such merger, consolidation or sale of Tenant’s assets or stock, provided (and it shall be a condition of the validity of any such assignment), without limitation, that:
(i) prior to, or concurrently with such assignment, such entity shall agree directly with the Landlord to be bound by all of the obligations of the Tenant provided for under this Lease, including, without limitation, the covenant against
further assignment; (ii) such assignment shall not relieve the Tenant herein named of any of its obligations hereunder, and the Tenant shall remain fully liable therefor; and (iii) subject to execution of a confidentiality agreement in the
form of Exhibit F attached hereto, the Tenant shall furnish the Landlord with such information regarding such entity as the Landlord may reasonably require, including, without limitation, information regarding good reputation and financial ability.

 TRANSFER PREMIUM FROM ASSIGNMENT OR
SUBLETTING. Landlord shall be entitled to receive from Tenant (as and when received by Tenant) as an item of additional rent the following amounts (hereinafter the Transfer Premium): (a) all
amounts received by Tenant from the subtenant in excess of the amounts payable by Tenant to Landlord hereunder. The Transfer Premium shall be reduced by the reasonable brokerage commissions and legal fees and other concessions given by Tenant to
obtain the Transfer such as, without limitation, an improvement allowance, actually paid by Tenant in order to assign the Lease or to sublet a portion of the Premises. 

LANDLORD’S EXPENSES. In the event Tenant
shall assign this Lease or sublet the Premises or request the consent of Landlord to any Transfer, then Tenant shall pay Landlord’s reasonable attorneys’ or other consultants’ fees. 

  
 4 

 EXECUTED under seal as of the date first set forth above. 

 

							
	LANDLORD:				BORDEN & REMINGTON FALL RIVER LLC
				
					BY:		 /s/ Robert F. Bogan

				
					Name:		 Robert F. Bogan

				
					Title:		 Manager

			
	TENANT:				TPI, INC.
			
					TPI Composites, Inc.,
					its sole member’s manager
				
					BY:		 /s/ William E. Siwek

				
					Name:		 WILLIAM E. SIWEK

				
					Title:		 CFO

  
 5

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