Document:

Exhibit

EXHIBIT 10.86

[Gap Inc. letterhead]

November 16, 2015

Paul Chapman

Dear Paul:

This letter is to confirm our offer to you as Executive Vice President, Chief Information Officer, Gap Inc.  

Salary. Effective on your Start Date, your annual salary will be $525,000, payable every two weeks. 
You are scheduled to receive a compensation review in March 2017, based on your time in the position.

Start Date. Your first day in your new position will be December 1, 2015, reporting to Art Peck, Chief Executive Officer, Gap Inc.

Annual Bonus. Based on your position as Executive Vice President, you will be eligible for an annual bonus based on Gap Inc. and/or Division financial objectives (weighted at 75%) and individual performance (weighted at 25%).  Effective on your Start Date, your annual target bonus will be 80% of your base salary.  Depending on results, your actual bonus, if any, may be higher or lower and can reach a maximum of 160%.  Bonus payments will be prorated based on active time in position, divisional or country assignment and changes in base salary or incentive target that may occur during the fiscal year including any changes related to your acceptance of this position.  Bonuses for fiscal 2016 are scheduled for payment in March 2017 and you must be employed by Gap Inc. on the payment date.  Gap Inc. has the right to modify the program at any time. Management discretion can be used to modify the final award amount.  Bonus payments are subject to supplemental income tax withholding.

Special Stock Award. Subject to approval by the Compensation and Management Development Committee of the Board of Directors (the “Committee”) and the provisions of Gap Inc.'s stock plan, you will be granted stock awards covering 20,000 shares of Gap Inc. common stock on the date the award is approved by the Committee (the “date of grant”).  We anticipate the date of grant will occur in March 2016. Awards are in the form of units that are paid in Gap Inc. stock upon vesting.  The award will become vested as shown in the schedule below, provided you are employed by Gap Inc. on the vesting date.  Awards are subject to income tax withholding upon vesting.

Stock Award of 10,000 shares vesting two years from date of grant.
Stock Award of 10,000 shares vesting three years from date of grant.

Long-Term Growth Program. Based on your position as Executive Vice President, you will be eligible to participate in the Long-Term Growth Program that rewards achievement of Gap Inc. and/or Division financial objectives over a three year period.  You are eligible to participate in the program for the fiscal 2016-2018 performance cycle.  Your target opportunity to earn performance shares will be 120% of your base salary.    Depending on results, your actual performance shares, if any, may be higher or lower and can reach a maximum of 300% of target shares.  Awards are made in the form of performance shares that are paid in Gap Inc. stock upon vesting.  The number of earned performance shares, if any, will be determined no later than March 2019.  Payout is subject to certification by the Committee and the provisions of Gap Inc.’s stock plan. Earned shares will vest 50% on the date the Committee certifies attainment and 50% one year from the certification date provided you are employed by Gap Inc. on the vesting dates.  Gap Inc. has the right to modify the program at any time. Committee discretion can be used to modify the final share amount.  Shares are subject to income tax withholding upon vesting.  

The Long-Term Growth Program replaces the annual Performance Stock Award Program, which you will no longer eligible for as of the beginning of fiscal 2016.  However, to the extent earned, you will receive a final award under the Performance Stock Award Program in March 2016 for fiscal 2015 performance.   

Paul Chapman
November 16, 2015
Page 2

Your performance stock award target remains 75% of base salary for the balance of fiscal 2015. 
 
Termination/Severance.  In the event that your employment is involuntarily terminated by the Company for reasons other than For Cause (as defined below) prior to February 13, 2018, the Company will provide you the following after your "separation from service" within the meaning of Section 409A of the Internal Revenue Code (the "Separation from Service”), provided you sign a general release of claims in the form requested by the Company and it becomes effective within 45 calendar days after such Separation from Service (such 45th day, the “Release Deadline”):  

(1) Your then current salary, at regular pay cycle intervals, for eighteen months commencing in the first regular pay cycle following the Release Deadline (the “severance period”).  Payments will cease if you accept other employment or professional relationship with a competitor of the Company (defined as another company primarily engaged in the apparel design or apparel retail business or any retailer with apparel sales in excess of $500 million annually), or if you breach your remaining obligations to the Company (e.g., your duty to protect confidential information, agreement not to solicit Company employees).  Payments will be reduced by any compensation you receive (as received) during the severance period from other employment or professional relationship with a non-competitor. Each payment will be treated as a separate payment for purposes of Section 409A of the Internal Revenue Code.

(2) Through the end of the period in which you are receiving payments under paragraph (1) above, if you properly elect and maintain COBRA coverage, payment of a portion of your COBRA premium in a method as determined by the Company. This payment may be taxable income to you and subject to tax withholding.  Notwithstanding the foregoing, the Company’s payment of the monthly COBRA premium shall cease immediately if the Company determines in its discretion that paying such monthly COBRA premium would result in the Company being in violation of, or incurring any fine, penalty, or excise tax under, applicable law (including, without limitation, any penalty imposed for violation of the nondiscrimination requirements under the Patient Protection and Affordable Care Act or guidance issued thereunder).

(3) Through the end of the period in which you are receiving payments under paragraph (1) above, reimbursement for your costs to maintain the same or comparable financial counseling program the Company provides to senior executives in effect at the time of your Separation from Service.  The amount of expenses eligible for reimbursement during a calendar year shall not affect the expenses eligible for reimbursement in any other calendar year.  Reimbursement shall be made on or before the last day of the calendar year following the calendar year in which the reimbursement is incurred but not later than the end of the second calendar year following the calendar year of your Separation from Service.

(4) Prorated Annual Bonus for the fiscal year in which the termination occurs, on the condition that you have worked at least 3 months of the fiscal year in which you are terminated, based on actual financial results and 100% standard for the individual component.  Such bonus will paid in March of the year following termination at the time Annual Bonuses for the year of termination are paid, but in no event later than the 15th day of the third month following the later of the end of the Company’s taxable year or the end of the calendar year in which such termination occurs.

(5) Accelerated vesting (but not settlement) of restricted stock units (“RSUs”) and performance shares that remain subject only to time vesting conditions (excluding any performance shares that remain subject to performance-based vesting conditions) scheduled to vest prior to April 1 following the fiscal year of termination.  Shares of the Company stock in settlement of any vested RSUs and/or performance shares under this section will be delivered on the applicable regularly scheduled vesting dates subject to the terms and conditions of the applicable award agreement including, without limitation, the Internal Revenue Code Section 409A six-month delay language thereunder to the extent necessary to avoid taxation under Section 409A of the Internal Revenue Code.

Paul Chapman
November 16, 2015
Page 3

The payments in (1), (3), (4) and (5) above are, and the payment described in (2) above may be, taxable income to you and are subject to tax withholding.  If the aggregate amount that would be payable to you under paragraphs (1), (2), (3) and (4) above through the date which is six months after your Separation from Service (excluding amounts exempt from Section 409A of the Internal Revenue Code under the short-term deferral rule thereunder or Treas. Reg. Section 1.409A-1(b)(9)(v))  exceeds the limit under Treas. Reg. Section 1.409A-1(b)(9)(iii)(A) and you are a “specified employee” under Treas. Reg. Section 1.409A-1(i) on the date of your Separation from Service, then the excess will be paid to you no earlier than the date which is six months after the date of such separation (or such earlier time permitted under Section 409A(a)(2)(B)(i) of the Internal Revenue Code). This delay will only be imposed to the extent required to avoid the tax for which you would otherwise be liable under Section 409A(a)(1)(B) of the Internal Revenue Code.  Any delayed payment instead will be made on the first business day following the expiration of the six month period, as applicable (or such earlier time permitted under Section 409A(a)(2)(B)(i) of the Internal Revenue Code). Payments that are not delayed will be paid in accordance with their terms determined without regard to such delay.  

The term “For Cause” shall mean a good faith determination by the Company that your employment be terminated for any of the following reasons:  (1) indictment, conviction or admission of any crimes involving theft, fraud or moral turpitude; (2) engaging in gross neglect of duties, including willfully failing or refusing to implement or follow direction of the Company; or (3) breaching Gap Inc.’s policies and procedures, including but not limited to the Code of Business Conduct.

At any time, if you voluntarily resign your employment from Gap Inc. or your employment is terminated For Cause, you will receive no compensation, payment or benefits after your last day of employment.  If your employment terminates for any reason, you will not be entitled to any payments, benefits or compensation other than as provided in this letter.

Recoupment Policy.  As an Executive Vice President, the Company’s recoupment policy will apply to you. Under the current policy, subject to the discretion and approval of the Board, Gap Inc. will, to the extent permitted by governing law, in all appropriate cases as determined by the Board, require reimbursement and/or cancellation of any bonus or other incentive compensation, including stock-based compensation, awarded to an executive officer or other member of the Gap Inc.’s executive leadership team where all of the following factors are present: (a) the award was predicated upon the achievement of certain financial results that were subsequently the subject of a restatement, (b) in the Board’s view, the executive engaged in fraud or intentional misconduct that was a substantial contributing cause to the need for the restatement, and (c) a lower award would have been made to the executive based upon the restated financial results.  In each such instance, Gap Inc. will seek to recover the individual executive’s entire annual bonus or award for the relevant period, plus a reasonable rate of interest.

Abide by Gap Inc. Policies/Protection of Gap Inc. Information.  You agree to abide by all Gap Inc. policies including, but not limited to, policies contained in the Code of Business Conduct.  As a Corporate Executive Vice President, you are subject to Stock Ownership Requirements for Gap Inc. Executives which can be found on Gapinc.com.  You also agree to abide by the Confidentiality and Non-Solicitation terms below during and after your employment with Gap Inc.

Insider Trading Policies.  Based on the level of your position, you will be subject to Gap Inc.'s Securities Law Compliance Manual, which among other things places restrictions on your ability to buy and sell Gap Inc. stock and requires you to pre-clear trades. This position will subject you to the requirements of Section 16 of the United States Securities and Exchange Act of 1934, as amended.  If you do not already have a copy of the compliance manual, or have questions about it, you should contact Gap Inc. Global Equity Administration, at (415) 427-8478.

Confidentiality.  You acknowledge that you will be in a relationship of confidence and trust with Gap Inc.  As a result, during your employment with Gap Inc., you will acquire “Confidential Information,” which is information (whether in electronic or any other format) that people outside Gap Inc. never see, such as

Paul Chapman
November 16, 2015
Page 4

unannounced product information or designs, business or strategic plans, financial information and organizational charts, and other materials.  

You agree that you will keep the Confidential Information in strictest confidence and trust.  You will not, without the prior written consent of Gap Inc.’s General Counsel, directly or indirectly use or disclose to any person or entity any Confidential Information, during or after your employment, except as is necessary in the ordinary course of performing your duties while employed by Gap Inc., or if required to be disclosed by order of a court of competent jurisdiction, administrative agency or governmental body, or by subpoena, summons or other legal process, provided that prior to such disclosure, Gap Inc. is given reasonable advance notice of such order and an opportunity to object to such disclosure.  

You agree that in the event your employment terminates for any reason, you will immediately deliver to Gap Inc. all company property, including all documents, materials or property of any description, or any reproduction of such materials, containing or pertaining to any Confidential Information.

Non-Solicitation of Employees.  In order to protect Confidential Information, you agree that so long as you are employed by Gap Inc., and for a period of one year thereafter, you will not directly or indirectly, on behalf of yourself, any other person or entity, solicit, call upon, recruit, or attempt to solicit any of Gap Inc.’s employees or in any way encourage any Gap Inc. employee to leave their employment with Gap Inc.  You further agree that you will not directly or indirectly, on behalf of yourself, any other person or entity, interfere or attempt to interfere with Gap Inc.’s relationship with any person who at any time was an employee, consultant, customer or vendor or otherwise has or had a business relationship with Gap Inc.    

Non-disparagement.  You agree now, and after your employment with the Gap Inc. terminates not to, directly or indirectly, disparage Gap Inc. in any way or to make negative, derogatory or untrue statements about Gap Inc., its business activities, or any of its directors, managers, officers, employees, affiliates, agents or representatives to any person or entity.

Employment Status. You understand that your employment is “at-will”. This means that you do not have a contract of employment for any particular duration or limiting the grounds for your termination in any way.  You are free to resign at any time.  Similarly, Gap Inc. is free to terminate your employment at any time for any reason.  The only way your at-will status can be changed is through a written agreement with Gap Inc., signed by an authorized officer of Gap Inc.  In the event that there is any dispute over the terms, enforcement or obligations in this letter, the prevailing party shall be entitled to recover from the other party reasonable attorney fees and costs incurred to enforce any agreements.

Please note that except for those agreements or plans referenced in this letter and attachments, this letter contains the entire understanding of the parties with respect to this offer of employment and supersedes any other agreements, representations or understandings (whether oral or written and whether express or implied) with respect to this offer. Please review and sign this letter.  You may keep one original for your personal records. 

Paul, welcome to your new position and congratulations on this latest achievement in your career path at Gap Inc. 

Yours sincerely,

/s/ Art Peck        
Art Peck
Chief Executive Officer, Gap Inc.

Confirmed this 16th day of November, 2015

/s/ Paul ChapmanExhibit 4.67

 

INDENTURE OF LEASE made as of the
1 st day of December, 2015 between FINLEY W. McLACHLAN PROPERTIES INC. and DUFFERIN LUMBER AND SUPPLY COMPANY LIMITED,
both Ontario corporations (collectively the “Landlord”), and INTELLIPHARMACEUTICS CORP., a Nova Scotia corporation
(the “Tenant”).

 

WITNESSETH as follows:

 

ARTICLE
1

INTERPRETATION

 

1.1.           
Definitions

 

In this lease, unless there is something
in the subject matter or content inconsistent therewith, the following terms have the following respective meanings:

 

“Additional Rent” has
the meaning ascribed to that term in Section 3.1.

 

“agreed rate” at any
time means that rate of interest, expressed as a rate per annum, which is two (2) percentage points in excess of the rate of interest
established from time to time by Royal Bank of Canada at Toronto as the reference rate of interest in order to determine the interest
rate which it will charge to commercial customers in Canada for Canadian dollar denominated loans.

 

“applicable legislation”
has the meaning ascribed to that term in Article 8.

 

“Basic Rent” in any
yearly period shall mean:

 

Year One:$240,000., per annum;

Year Two:Year one Basic Rent, before
HST, adjusted for CPI for the previous 12 month period;

Year Three:Year two Basic Rent, before
HST, adjusted for CPI for the previous 12 month period;

Year Four:Year three Basic Rent, before
HST, adjusted for CPI for the previous 12 month period; and

Year Five:Year four Basic Rent, before
HST, adjusted for CPI for the previous 12 month period.

 

HST is in addition to all Basic Rent.

 

“Building” except where
otherwise specifically or individually identified means collectively the industrial building located at and known municipally as
22 Worcester Road, Toronto (containing 40,000 square feet of space) and the industrial building located at and known municipally
as 30 Worcester Road, Toronto, Ontario (containing 25,000 square feet of space) for an aggregate of 65,000 square feet of space),
and related improvements constructed on the Lands and includes all fixtures, equipment and other appurtenances thereto, and all
additions, alterations, changes, extensions, improvements and reconstruction which may hereafter be made thereto or substituted
therefor.

 

    

     

    

“CPI” means the Consumer
Price Index (CPI) “CPI” means (All Items for Regional Cities, base year 2002=100) for the City of Toronto. If the
base year for the Consumer Price Index (or the substituted or replacement index) is changed by statistics Canada (or by its successor
or other governmental agency) the Landlord will be entitled to make the necessary conversion, acting reasonably.

 

“HST” means all harmonized
goods and services taxes, sales taxes, value added taxes, multi-stage taxes and other taxes, rates, duties, levies and fees assessed,
levied rated or charged upon the Tenant in respect of Rent.

 

“Lands” means the lands
described in Schedule A.

 

“leased premises” means
the Lands and the Building and includes all buildings, fixtures, equipment and other appurtenances thereto hereafter erected, constructed
or placed on the Lands.

 

“month” and “monthly”
refer to a calendar month.

 

“mortgage” includes:
a deed of trust and mortgage securing bonds, debentures and other evidences of indebtedness, an assignment as security and any
mortgage or charge of, the Lands, the Building, and this lease, whether made or assumed by the Landlord, and “mortgagee”
means the holder of a mortgage.

 

“rent” means Basic Rent
and Additional Rent.

 

“replacement cost” has
the meaning ascribed to that term in Section 5.3.

 

“Term” means”

 

		(i)	the period commencing December 1st 2015 through to November 30th 2020 and

 

		(ii)	any additional period during which the Tenant shall overhold and for which the Landlord shall accept
rent as provided in this lease; and

 

“year” and “yearly”
refer to a period of 12 consecutive calendar months.

 

1.2.           
Certain Terms, Number and Gender

 

The words “hereof”, “herein”
and “hereunder” and similar expressions used in any section of this lease refer to the whole of this lease and not
just to such section, unless otherwise provided. Words importing the singular number only shall include the plural and vice versa
words importing any gender shall include the other genders and words importing persons shall include firms and corporations and
vice versa.

 

1.3.           
Subdivision of Lease and Effect of Headings

 

The division of this lease into articles,
sections, subsections and other subdivisions and the insertion of headings are for convenience of reference only and shall not
affect the construction or interpretation of this lease. References to an article, section, subsection or other subdivision are
to the corresponding article, section, subsection or other subdivision of this lease.

 

    2 

     

    

1.4.           
Governing Law

 

This lease shall be governed by and construed
in accordance with the laws of the Province of Ontario and the laws of Canada applicable therein and shall be treated in all respects
as an Ontario contract.

 

ARTICLE
2

DEMISE AND TERM

 

2.1.           
Demise

 

In consideration of the rents, covenants
and agreements hereinafter reserved and contained on the part of the Tenant to be paid, observed and performed, the Landlord has
demised and leased and by these presents does demise and lease to the Tenant the leased premises.

 

2.2.           
Term

 

To have and to hold the leased premises
for and during the period of time commencing on December 1st 2015 and ending on November 30, 2020, subject to renewal
or extension as hereinafter set out.

 

The Tenant shall not be responsible for
payment of Basic Rent during the period of December 1st 2015 through to February 29, 2016 in respect only of 22 Worcester Road,
Toronto, Ontario, however the Tenant shall pay and satisfy all Additional Rent and all utilities and other charges hereunder during
such period and shall be bound by all provisions of the Lease during such period for 22 Worcester Road, Toronto, and, for greater
certainty shall pay full Basic Rent during such period, calculated at $3.70, per square foot per annum on 30 Worcester Road, Toronto,
Ontario plus the Additional Rent and Additional Rent and other charges herein during such three (3) month period.

 

2.3.           
Renewal

 

If no event of default listed in Section
8.2 shall be outstanding at the time of giving notice, the Tenant may by written notice given to the Landlord to be given by the
Tenant to the Landlord not earlier than 12 months and no later than 6 months prior to the expiry of the Term, extend the Term for
a renewal period (the “renewal period”) of 5 years from December 1, 2020 at an annual Basic Rent which is the fair
market rental for renewal leases for similar Buildings located in the general area of the Building improved in a similar manner,
rented to a similar tenant, and otherwise upon and subject to the same terms and conditions as are herein contained except for
the right of renewal contained in this Section. In the event that the parties are unable to agree on the Basic Rent for the renewal
period, prior to three (3) month prior to the end of the Term, the matter of the determination of the fair market rental as provided
herein shall be submitted to an arbitration pursuant to the provisions of The Arbitrations Act (Ontario), upon application
by any party hereto.

 

    3 

     

    

During the extended term the Landlord shall
not be obligated to provide any leasehold inducement payments, allowances, free rent periods or other tenant inducements, and the
Tenant shall occupy the Buildings in as-is condition, subject to the other terms hereof.

 

ARTICLE
3

RENT

 

3.1.           
Additional Rent

 

All taxes, costs, expenses, charges and
obligations payable by the Tenant pursuant to this lease and interest and penalties as set out in this lease, if they are not paid
as herein provided, all other taxes, costs, expenses, charges or obligations which the Landlord may suffer or incur (except, however,
any HST or any income, capital or profit taxes imposed on or against the Landlord), and any and all other sums which may become
due by reason of any default or failure of the Tenant duly and punctually to perform and observe any of the agreements, terms,
covenants and conditions in this lease to be performed and observed by the Tenant shall be deemed to be (and are herein called)
Additional Rent and, in the event of non-payment, the Landlord shall have all the rights and remedies herein provided in case of
non-payment of rent generally. All Additional Rent shall become due and be payable forthwith after demand.

 

3.2.           
HST

 

The Tenant shall pay to the Landlord an
amount equal to any and all HST (under the Excise Tax Act (Canada) or other multi stage or ad valorem taxes
payable by the Tenant in respect of the use and occupation by the Tenant of the leased premises pursuant to this lease, it being
the intention of the parties that the Landlord shall be fully reimbursed by the Tenant with respect to any and all such taxes collectible
by the Landlord as agent for the applicable taxing authority and for which the Tenant is responsible hereunder. The amount of such
tax so payable by the Tenant shall be calculated by the Landlord in accordance with the applicable legislation and shall be paid
by the Tenant to the Landlord at the same time as rent is payable to the Landlord under the terms of this lease or upon demand
at such other time or times as the Landlord from time to time may determine. Notwithstanding any other provision of this lease,
amounts payable by the Tenant under this Section shall be deemed not to be additional rent, but the Landlord shall have all of
the rights and remedies for the recovery of such amounts as it has for the recovery of additional rent under this lease and at
law.

 

ARTICLE
4

NET LEASE

 

4.1.           
Net Lease

 

It is the intention of the Landlord and
the Tenant and it is hereby agreed by them that, subject to any assignment of rent by the Landlord, the Tenant shall pay all rent
to be paid hereunder to the Landlord without any deduction, abatement or set-off whatsoever, and notwithstanding any statutory
or other provisions, all charges, expenses, payments and costs of every nature and kind whatsoever incurred in respect of the leased
premises or for any matter or thing affecting the leased premises shall (unless otherwise expressly stipulated herein to the contrary)
be borne by the Tenant to the same extent as if the Tenant were the sole owner of the Lands and the Building, so that the rent
herein reserved shall be absolutely net and carefree to the Landlord. The Landlord shall not be responsible for any charge, claim
or liability whatsoever in connection with the leased premises except as expressly provided in this lease.

 

    4 

     

    

ARTICLE
5

COVENANTS OF THE TENANT

 

The Tenant covenants with the Landlord
that:

 

5.1.           
Rent

 

During the Term the Tenant shall pay to
the Landlord the rent hereby reserved and shall discharge all obligations and charges hereunder in the manner and at the times
herein provided, without deduction, abatement or set-off save as herein provided. Rent (Basic Rent and Additional Rent shall be
paid in equal, consecutive monthly installments of Basic Rent plus Additional Rent, at the annual rent stipulated herein, plus
HST, as provided herein, or as estimated reasonably by the Landlord. The Landlord may adjust the monthly Rent in accordance with
changes in incidence of Additional Rent.

 

5.2.           
Taxes, etc.

 

The Tenant shall promptly discharge and
pay when due (subject to the right of contestation as hereinafter mentioned but including any fine, penalty, interest or cost which
may be added thereto) all taxes, rates, duties, assessments and other public charges which during the Term may be levied rated,
charged or assessed against the leased premises or any property owned or brought thereon by the Tenant; and every tax, license
fee, business tax and other public charge (except, however, any goods and services tax and any income, capital or profits taxes
imposed on or against the Landlord) together with meters and/or penalties thereon which, during the Term, may be assessed, levied
or charged in respect of the occupancy of the leased premises by the Tenant, or any businesses carried on therein by the Tenant,
or the property of the Tenant thereon or therein whether such taxes, rates, assessments, license fees and other public charges
are assessed, levied or charged by municipal, provincial, federal, school or other public body; and, if the Tenant shall fail to
pay any such amount or amounts when due, the Landlord may, at its option, pay the same and an amount equal to the amount so paid,
together with interest thereon computed at the agreed rate from the date of payment by the Landlord, shall be charged to and paid
by the Tenant as Additional Rent; Notwithstanding anything herein contained to the contrary the Tenant shall, make all payment
of the foregoing items and charges, directly to the Landlord monthly in equal installments together with the basic rent, in such
amounts as may be advised by the Landlord, from time to time, provided that:

 

		(a)	the Tenant shall only be required to pay a proportionate part of any such tax, rate, duty, assessment,
fee or charge which relates to a fiscal period of the taxing authority a part of which period is included in a period prior to
the commencement or after the expiration of the Term; and

 

		(b)	the Tenant may, upon written notice to the Landlord and after paying such tax, rate, assessment
or other public charge under protest, contest the validity or the amount thereof (if meanwhile such contestation will involve no
forfeiture, foreclosure, escheat, sale or termination of the Landlord’s title to the leased premises or any part thereof),
but upon a final determination of any such contest the Tenant shall immediately pay and satisfy all proper costs, penalties, interest
or other charges payable in connection therewith; the Landlord shall co-operate in the institution and prosecution of any such
proceedings and will execute any documents required therefore; and the expense of such proceedings shall be borne by the Tenant
and any refunds or rebates secured shall belong to the Tenant.

 

    5 

     

    

5.3.           
Property Insurance

 

The Landlord shall insure at the cost of
the Tenant and keep insured the Building against loss or damage for such amounts, against such perils, with such coverage’s
and with such deductibles as a prudent owner would from time to time insure a similar building in the area of the leased premises,
including, without limitation:

 

		(a)	insurance for 100% of replacement cost of the Building against loss or damage by all perils insured
under an “All Risks” insurance policy including sprinkler leakage insurance, foundation and excavation insurance and
by-law upgrade insurance but excluding, except to the extent the same is an “All Risks” peril, civil riot and insurrection,
war and nuclear hazard; and

 

		(b)	insurance in an amount not less than the replacement cost of the Building per occurrence against
loss or damage to all boilers, pressure vessels, air-conditioning equipment and miscellaneous electrical apparatus situate in the
Building.

 

The term “replacement cost”
means at any time the cost of repairing, replacing or reinstating any property, whether real or personal, with materials of like
kind and quality, without deduction for physical, accounting or any other kind of depreciation. The cost of such insurance shall
be paid in full annually to the Landlord by the Tenant at the time that such insurance is in force.

 

5.4.           
Rental Insurance

 

The Tenant shall provide and maintain in
the name of the Landlord and each mortgagee rental insurance providing for payment of amounts equal to the full rent reserved under
this lease and all other amounts payable under this lease for a period of not less than one calendar year in the event of loss
of or damage to the Building by fire or any other penalty described in Section 5.3. All amounts which the Landlord may receive
as proceeds of such rental insurance shall be credited on account of rent or other amounts accruing due after the date of such
loss or damage occurring.

 

5.5.           
Liability Insurance

 

The Tenant shall provide and maintain comprehensive
public liability and property damage insurance in an amount not less than $2,000,000 in respect of anyone accident or occurrence.
Such policies shall cover the entire leased premises.

 

    6 

     

    

5.6.           
Miscellaneous Insurance Provisions

 

		(a)	All insurance maintained pursuant to Sections 5.3 or 5.5 shall name the Landlord, the Tenant, each
mortgagee and any other person designated by the Landlord as having an insurable interest as co-insureds or with loss payable to
such insureds as their respective interests may appear, as applicable.

 

		(b)	All insurance maintained pursuant to Sections 5.3, 5.4 or 5.5 shall be written in a form acceptable
to the Landlord and all mortgagees and by such insurer or insurers as the Landlord and all mortgagees shall, in their respective
sole discretion, approve from time to time.

 

		(c)	Each policy of insurance maintained pursuant to Sections 5.3, 5.4 or 5.5 shall provide that the
insurer will furnish the Landlord and each mortgagee with duplicate original or certified copies of such insurance policy or certificates
evidencing such insurance, without request, including any endorsements relating to any alteration or renewal of the insurance.

 

		(d)	The Tenant shall maintain all such insurance in full force and effect during the whole of the Term,
will pay all premiums therefore prior to the due date thereof and will forthwith furnish the Landlord and each mortgagee with evidence
of such payment after written request therefore.

 

		(e)	If the Tenant shall fail to insure or to maintain any insurance required by Sections 5.3, 5.4 or
5.5, or to pay any of the insurance premiums that it is obligated to pay under this Section: then the Landlord may, at its option,
obtain alternative insurance or maintain such existing insurance and an amount equal to the premiums paid by the Landlord therefore,
together with interest thereon computed at the agreed rate from the date of payment by the Landlord, shall be charged to and paid
by the Tenant as additional rent.

 

		(f)	Each policy of insurance maintained pursuant to Sections 5.3, 5.4 or 5.5 shall, if obtainable,
include provisions to the following effect:

 

		(i)	a provision that such policy shall not be cancelled or materially amended to the detriment of the
insureds without at least 30 days’ prior written notice to the named insureds;

 

		(ii)	a waiver or release of all rights of subrogation against the named insureds;

 

		(iii)	a cross-liability provision as among named insureds and their respective officers, directors and
employees; and

 

		(iv)	a provision that no act or omission on the part of the party obtaining the insurance as a named
insured shall have any effect upon or constitute any defense against any claim made by any other insured named or to whom loss
is made payable as required hereby (including any mortgagees).

 

    7 

     

    

		(g)	If any policy of insurance maintained pursuant to Sections 5.3, 5.4 or 5.5 shall contain any co-insurance
clause, it shall only be a stated amount co-insurance clause pursuant to which the insurer and the insured agree as to the replacement
cost of the property insured and stating what minimum amount of coverage must be carried by the insured in order to satisfy the
insurer’s co-insurance requirements and to permit full recovery by the insured up to the amount insured in the event of loss.

 

		(h)	Each policy of insurance maintained pursuant to Sections 5.3, 5.4 or 5.5 shall be primary and,
as among the named insureds, shall be the sole insurance and shall not call into contribution any other insurance available to
any of the named insureds.

 

5.7.           
Waste and Nuisance; Illegal Use; Increased Insurance Costs

 

The Tenant shall permit or commit no waste
or injury to the leased premises or any part thereof and shall not use or occupy or permit to be used or occupied the leased premises
for any illegal or unlawful purpose nor for any purpose that would result in the voiding of the insurance maintained pursuant to
Sections 5.3, 5.4 or 5.5 or in an increase in the cost thereof.

 

5.8.           
Utilities and Communication Services

 

The Tenant shall pay all charges for the
supply of electricity, gas, water and telephone and other telecommunications services to the leased premises and the connection
and disconnection thereof whether before or after the commencement or expiration of the Term. If the Tenant shall fail to pay for
the supply or connection or disconnection of such utilities or services when the same becomes payable then the Landlord may, at
its option, pay the same and an amount equal to the amount so paid, together with interest thereon computed at the agreed rate
from the date of payment by the Landlord, shall be charged to and paid by the Tenant as additional rent.

 

5.9.           
Maintenance and Repair

 

Subject to the provisions of Sections 6.2
and 8.1, the Tenant shall at its own cost and expense during the whole of the Term, operate, maintain and keep in good and substantial
repair, order and condition the leased premises and all parts thereof (including, without limiting the generality of the foregoing,
the roof and walls of the Building, and similar devices, heating and air-conditioning plant and equipment, parking areas, ramps,
sidewalks, curbs, ways, yards, landscaped and other areas, pipes, drains and plumbing, electrical and other wiring and all leasehold
improvements made to the leased premises). Such repairs shall meet the requirements of all municipal and governmental authorities
having jurisdiction and the insurance underwriters, if applicable and shall be completed promptly in a good and workmanlike manner
as a prudent owner would do. The Tenant’s obligation to repair shall not extend to (i) reasonable wear and tear of the leased
premises provided that the same remain fully functional throughout the whole of the Term, (ii) structural repair or repair of structural
defects for which the Landlord is responsible pursuant to Section 6.2,. The Landlord represents and warrants that, on or prior
to December 15, 2015, the heating, ventilation and air conditioning systems located at 22 Worcester Road, Toronto, Ontario will
be in good and substantial condition having regard to their ages and the roof membrane will be leak free. The Landlord represents
and warrants that the Landlord will complete the following repairs in respect of 22 Worcester Road, Toronto, Ontario, on or prior
to December 15, 2016:

 

•dock levelers

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•loading docks, truck
pads

•window leaks and

•asphalt

 

Notwithstanding the foregoing, the Tenant’s
responsibility for any ordinary maintenance and repair costs, exclusive of HST, associated with the roof membranes at 22 Worcester
Road, Toronto, Ontario, and 30 Worcester Road, Toronto, Ontario shall not exceed the aggregate sum of $3,000. per calendar year,
during the Term during which maintenance and repair costs may be incurred, and the Landlord shall be responsible for the payment
of any costs in excess of such aggregate sum incurred by the Tenant in respect of the roof membrane. All repairs and maintenance
to the roof at 22 Worcester Road, Toronto, Ontario shall be arranged by the Landlord, for re-imbursement by the Tenant, as provided
herein. Any such maintenance costs shall not be unreasonably incurred by the Tenant, and any repair estimates shall be first discussed
between the Landlord and the Tenant prior to proceeding with the repair work.

 

Inspection and Repair

 

The Tenant shall permit the Landlord or
its agents to enter upon the leased premises at any time and from time to time during normal business hours upon giving the Tenant
reasonable prior written or oral notice, for the purpose of inspecting and viewing the state of repair of the leased premises.
If the Tenant shall at any time fail to make any repairs, which it is required to make in a good and workmanlike fashion and to
the satisfaction of the Landlord, the Landlord shall be entitled to make them or cause them to be made, and the cost thereof, together
with interest thereon computed at the agreed rate from the date of payment by the Landlord, shall be charged to and paid by the
Tenant as Additional Rent.

 

5.10.       
Prosecution of Work

 

The Tenant shall prosecute all required
repairs, alterations, additions, changes, extensions or improvements to the leased premises or any part or parts thereof commenced
by it, which it is obligated to perform, hereunder with reasonable diligence to completion, paid for in full (except as may otherwise
be provided herein) and completed in a good and workmanlike manner.

 

5.11.       
Construction and Other Liens

 

At no time during the Term shall the Tenant
permit any construction lien or similar lien to stand against the leased premises for any labour or materials furnished to, or
with the consent of, the Tenant, its agents or contractors, in connection with work of any character (including all work which
the Tenant is obliged to do hereunder) performed or claimed to have been performed on the leased premises by or at the direction
or sufferance of the Tenant; the Tenant shall cause all registrations of claims for such liens, and or certificates of action under
any applicable legislation to be discharged, released or vacated, as the case may be, within 15 days of such registration or within
10 days after notice from the Landlord, whichever is earlier, all without cost or expense to the Landlord; provided further that
if the Tenant shall fail to remove, release or vacate any such lien as required hereunder, the Landlord at its option may pay and
discharge such lien, and all amounts paid by or on behalf of the landlord together with all expenses incurred in connection therewith
and interest thereon at the agreed rate from the date of payment by or for the Landlord shall be charged to and paid by the Tenant
as additional rent.

 

    9 

     

    

5.12.       
Outside Areas

 

During the Term the Tenant shall keep clear
from dirt, rubbish, ice and snow, all ramps, sidewalks, curbs, ways, yards, areas and rights of way forming part of the leased
premises, and the public sidewalks adjacent to the leased premises required by law to be cleared by the owner or occupier of the
leased premises.

 

5.13.       
Compliance with Fire and other Regulations and laws

 

The Tenant shall at its own expense comply
with every applicable regulation or order of any insurer by which the Landlord or, the Tenant may be insured, and with all applicable
laws, by-laws and regulations of all governmental authorities having jurisdiction, now or hereafter in any manner affecting the
leased premises or the use or occupation thereof; and shall indemnify the Landlord and save it harmless from each and every suit,
claim or demand brought or commenced against the Landlord and all damages, losses, costs, charges and expenses (including solicitors’
fees) suffered or incurred by the landlord, by reason of the failure of the Tenant so to do.

 

5.14.       
Injury to Persons or Property

 

The Landlord shall not be liable nor responsible
in any way for any loss of or damage or injury to any property belonging to the Tenant or to employees of the Tenant or to any
other person while such property is in, upon or about the leased premises or for any injury (including death) to any person while
such person is in, upon or about the leased premises or upon the sidewalks and land adjacent thereto, unless such loss, damage
or injury shall have been caused by the willful act of the Landlord and the Tenant hereby releases the Landlord of and from such
obligations; but, notwithstanding the foregoing, in no event shall the Landlord be liable for any loss, damage or injury caused
by steam, water, rain or snow which may leak into, issue or flow from any part of the Building or from the water, steam or drainage
pipes or plumbing works of the Building or from any other place or quarter or for any loss, damage or injury caused by or attributable
to the condition or arrangement of any electric or other wiring. The foregoing shall not relieve the Landlord from making those
repairs for which it is responsible pursuant to Section 6.2 herein.

 

5.15.       
Indemnity

 

The Tenant shall indemnify and save the
Landlord harmless from any and all liabilities, damages, debts, demands, losses, costs, claims, suits and actions for any damage
to property or any injury (including death) to any person or persons resulting from or arising out of:

 

		(a)	the use, occupation, conduct or management of or from any work or thing whatsoever done in or about
the leased premises;

 

    10 

     

    

		(b)	any breach or default on the part of the Tenant in the performance and observance of any of the
agreements, terms, covenants or conditions of this lease on the Tenant’s part to be performed and observed;

 

		(c)	the failure to comply with any laws, by-laws, ordinances and regulations, requirements, orders,
directions, notices or rules of any governmental authority having jurisdiction;

 

		(d)	any failure to repair or keep in repair any part of the leased premises by the Tenant pursuant
to the terms of this lease;

 

		(e)	any act of negligence or willful act or default of the Tenant or of any of its officers, agents,
contractors, servants or employees or any other licensee or invitee of the Tenant in or about the leased premises; and

 

		(f)	any injury (including death), loss or damage whatsoever caused to any person or property of any
person in or about the leased premises or upon the sidewalks and land adjacent thereto.

 

5.16.       
Surrender at Expiration of Term

 

At the expiration or earlier termination
of the Term the Tenant shall peaceably surrender and yield up to the Landlord the leased premises in good and substantial repair,
order and condition. All tenant’s fixtures and chattels including all machinery, equipment, fittings, shelving, utensils,
counters, computers, office equipment, exterior signage or other articles of like nature supplied by the Tenant in the conduct
of its operations shall be removed by the Tenant at the expiration of the Term at the sole expense of the Tenant, provided all
rent has been paid and no event of default listed in Section 8.2 shall be outstanding at such time. The Tenant shall, prior to
the expiration of the Term, to the extent required by the Landlord, remove or restore any or all alterations, changes or improvements
made by the Tenant to the leased premises. The Tenant shall in such removal or restoration of its fixtures and of alterations,
changes and improvements cause no damage to the leased premises or shall make good any damage which it shall occasion thereto.

 

5.17.       
Assignment and Subletting

 

The Tenant shall not assign (whether absolutely
or by way of mortgage or charge) or transfer this lease or all or any part of the leased premises or sublet or allow any other
person, firm or corporation to occupy the whole or any part thereof, without the consent in writing of the Landlord first obtained,
which consent shall not be unreasonably withheld or delayed. In the event of any assignment, transfer or sublease with or without
the consent of the Landlord, then, notwithstanding any act or rule of law or regulation to the contrary unless otherwise agreed
to in writing by the Landlord, the Tenant shall nevertheless remain liable to the Landlord for the payment of all rent payable
hereunder, and for the full observance and performance of the covenants and provisos herein contained, and the Tenant shall indemnify
the Landlord against all willful acts and defaults and negligence in respect of the leased premises by any assignee, transferee,
sub lessee or other occupant thereof. Notwithstanding the foregoing the Tenant may assign the Lease or sublet the leased premises
or any portion thereof, without the Landlord’s consent to any corporation resulting from the merger or amalgamation with
the Tenant, to a corporation which it controls is controlled by, or is under common control with the Tenant, or to any person or
entity which acquires all of the assets as a going concern of the Tenant, provided that such assigning or subletting shall not
release the Tenant from its obligations under this Lease. In such event, the Tenant shall provide the Landlord with 10 days prior
written notice of such subletting or assignment, providing full particulars of the relationship with the assignee/sublease or the
other terms of the transaction herein giving rise to the assignment or subletting.

 

    11 

     

    

5.18.       
Use of Leased Premises

 

The Tenant shall not use the leased premises
otherwise than for the purposes of offices, manufacturing, inside warehousing, distribution and pharmaceutical laboratory and pilot
plant. The Tenant acknowledges that such uses are more restrictive than the uses permitted under the City of Toronto zoning by-laws
which include the leased premises. The Tenant shall not use the leased premises for any other purpose without the consent in written
of the Landlord first obtained, which consent shall not be unreasonably withheld. The Tenant confirms that the uses intended of
the leased premises herein by the Tenant are in compliance with relevant zoning laws.

 

ARTICLE
6

COVENANTS, REPRESENTATIONS AND WARRANTIES OF THE LANDLORD

 

6.1.           
Quiet Enjoyment

 

The Landlord covenants with the Tenant
that (i) the Landlord has full right and lawful authority to enter into and perform the Landlord’s obligations under this
lease and (ii) the Tenant, upon paying the rent hereby reserved and performing and observing the covenants and provisos herein
contained on its part to be performed and observed, shall peaceably enjoy and possess the leased premises for the Tenant, without
any interruption or disturbance from the Landlord, or any other person or persons lawfully claiming by, from or under it. Notwithstanding
the foregoing, except in the event of a bona fide emergency, the Landlord will give 24 hours written notice of its intention to
make entry into the leased premises to the Tenant.

 

6.2.           
Landlord’s Repair Obligations

 

Subject to the provisions of Sections 5.9
and 8.1, the Landlord shall at its own cost and expense during the whole of the Term from time to time make all structural repairs
and repair all structural defects to the leased premises. For purposes of this lease, “structural repairs” shall mean
repairs to the roof structure, load bearing columns and foundation provided however, that such covenant shall not extend to repairs
necessitated by any act of negligence or willful act or default of the Tenant or any of its officers, agents, contractors, servants
or employees or any other licensee or invitee of the Tenant in or about the leased premises; and provided further that the Landlord
may, but shall not be required to make any such repairs until such time as the Tenant shall have requested the same in writing.

 

    12 

     

    

6.3.           
Environmental Compliance

 

The Tenant will not permit on the leased
premises any hazardous waste or contaminants (as defined in the Environmental Protection Act (Ontario) and the regulations
thereunder), toxic chemicals, pollutants, wastes, dangerous or potentially hazardous waste conditions on or affecting the demised
premises including without limitation, PCB’s radioactive substances, heavy metals or petroleum products, such that at all
times during the term hereof, the Tenant shall ensure strict compliance with all applicable environmental protection legislation
including without limiting the generality of the foregoing relating to ambient air, surface water, ground waste, land surface or
subsurface strata and relating to emissions, discharges, releases or threatened released. The Tenant shall at all times hold all
consents, permits, licenses or authorizations which are required to comply with all laws whatever. The Tenant will immediately
notify the Landlord of the receipt of any notice of non-compliance, control order or stop order or other order of any nature made
by any competent authority in respect thereof. The Tenant shall at all times during the term of this lease, or at any time subsequent
to the termination of this lease, take such actions as are necessary, at the Tenant’s expense to indemnify and save harmless
the Landlord, its successors and assigns, of and from all costs, damages, actions, and claims whatever made or threatened against
the Landlord, its successors or assigns as a result of a breach of the provisions hereof by the Tenant, its successors or assigns,
and liability for investigatory costs, cleanup costs, governmental response costs, natural resources damages, property damages,
personal injuries or penalties as a result of a breach of this clause. The Tenant shall at its expense, at the end of the term
of this lease, at the request of the Landlord remove all underground fuel storage tanks and ensure the soil is not contaminated
by any hazardous waste.

 

The Tenant shall, at the Tenant’s
expense, if required at any time by Landlord or by any governmental or other authority, take all remedial action in respect of
any “contaminant” (as defined in the Environmental Protection Act, (Ontario) or successor, as amended, in, on,
under or about the leased premises or emanating there from arising as a result of the operations of the Tenant or its successors
or assigns in the leased premises, including, without limitation, any repairs or replacements to the leased premises and the removal,
treatment, disposal, restoration, replacement or decommissioning of the soil or any other part of the Lands. The said obligation
shall survive the expiration or earlier termination of the Lease.

 

ARTICLE
7

ALTERATIONS AND IMPROVEMENTS; AND SIGNS

 

7.1.           
Alterations and Improvements

 

		(a)	(The Landlord covenants with the Tenant that the Tenant may make or permit to be made any alterations,
changes or improvements (other than structural) to the leased peruses or any part or parts thereof provided the proposed alterations,
changes or improvements:

 

		(i)	do not affect the structural soundness of the Building or negatively affect the value of the Building;

 

    13 

     

    

		(ii)	meet the requirements of every governmental authority having jurisdiction in respect thereof;

 

		(iii)	meet the requirements of the insurance underwriters of the Building;

 

		(iv)	do not interfere with the efficiency of the heating, air conditioning and ventilating systems in
the Building;

 

		(v)	are harmonious in design with the Building as the same is immediately prior to the making hereof;

 

		(vi)	have the prior written consent of all mortgagees if such consent is required under the terms of
the mortgage; and

 

		(vii)	have the prior written consent of the Landlord, which consent shall not be unreasonably withheld.

 

		(b)	The Tenant acknowledges that, except as set out in subsection (a), it shall have no other right
to make any alterations, changes or improvements to the leased premises or any part thereof.

 

		(c)	Any alterations, changes and improvements to the leased premises shall become the property of the
Landlord immediately upon construction thereof and shall thereafter form part of the Leased Premises.

 

7.2.           
Signs

 

The Tenant shall have the right to erect
at the front, side and rear of the Building and on the Building at its cost and expense such number and types of signs as it considers
appropriate; provided that:

 

		(a)	all such signs shall be erected and maintained at all times during the Term in accordance with
all restrictive covenants pertaining to the Lands and all laws, by-laws and regulations of governmental authorities having jurisdiction;

 

		(b)	the Tenant shall remove all such signs at the expiry of the Term; and

 

		(c)	the Tenant shall in the erection; maintenance and removal of such signs whether during the Term
or thereafter, cause no damage to the leased premises or shall make good any damage which shall be occasioned thereby.

 

ARTICLE
8

MUTUAL COVENANTS OF THE LANDLORD AND THE TENANT

 

The Landlord and the Tenant covenant and
agree with each other that:

 

    14 

     

    

8.1.           
Damage to or Destruction of Leased Premises

 

		(a)	In case the Building is destroyed or so damaged as to be unfit for the purposes of the Tenant by
fire or any other peril against which the Tenant is obligated to insure under this lease, and has so insured and either:

 

		(i)	is not capable of repair or restoration with reasonable diligence within 180 days after the date
of such destruction or damage occurring, or

 

		(ii)	such destruction or damage occurs during the last 12 months of the Term,

 

then at the option
of either the Landlord or the Tenant exercisable within 30 days after the date of such destruction or damage occurring the Term
shall terminate, the Tenant shall release to the Landlord its interest in all insurance moneys payable as a result of such destruction
or damage, and the then current rent shall be apportioned according to the time of such destruction or damage.

 

		(b)	If the Building shall be only partially destroyed or damaged by fire or any other peril described
in subsection (a) and shall be capable of repair or restoration with reasonable diligence within 180 days after the date of such
destruction or damage occurring or if neither the Landlord nor the Tenant shall elect to terminate the Term pursuant to and in
accordance with the provisions of subsection (a), then the Landlord shall proceed forthwith to repair or rebuild the Building to
the same standard of construction and size as the Building was immediately prior to the destruction or damage, at the expense of
the Landlord, but only up to and not beyond the extent of insurance proceeds received by it and any other amounts contributed by
the Tenant or the Landlord toward the cost of repair or rebuilding. The Tenant shall release to the Landlord its interest in all
insurance moneys payable as a result of such destruction or damage to permit the Landlord to proceed with such repairs or rebuilding.
The Landlord shall cause each mortgagee and any other person having an interest in such proceeds to release them to the Landlord,
failing which the Landlord shall contribute an amount equal to the amounts retained by the mortgagees and such other persons toward
the cost of repair or rebuilding.

 

		(c)	Notwithstanding anything contained in this lease, in the event of partial or complete destruction
of or damage to the Building during the Term, the rent reserved by this lease and all other amounts which may be payable under
or pursuant to this lease shall continue to be due and payable during the Term by the Tenant without abatement in the amounts and
at the places and times provided for in or contemplated by this lease. The proceeds of rental insurance maintained pursuant to
Section 5.4 shall be applied in reduction of such obligation.

 

8.2.           
Events of Default and Remedies of the Landlord

 

If during the Term (regardless of any pending
bankruptcy, reorganization, receivership, insolvency or other proceeding before a Court or other tribunal, which has prevented
or might prevent compliance with the terms of this lease):

 

    15 

     

    

		(a)	the Tenant shall fail to pay any rent or other sum herein specified to be paid by the Tenant and
such failure shall continue for five days after the due date for payment thereof and after written notice is provided to the Tenant,
as provided herein;

 

		(b)	the Tenant shall fail to observe, perform or keep any of its covenants, agreements or obligations
hereunder and such failure shall not be cured within 15 days after the Landlord shall have given to the Tenant written notice specifying
such failure or within such longer period as is reasonably required to permit the Tenant to cure such failure with the exercise
of due diligence; or

 

		(c)	the Term or any of the fixtures, goods and chattels of the Tenant on the leased premises shall
be at any time seized or taken in execution or attachment pursuant to judicial process or by any creditor of the Tenant and the
Tenant shall not have obtained the release of the same within 30 days after such seizure or taking; or

 

		(d)	the Tenant shall make any assignment for the benefit of creditors or become bankrupt or insolvent
or shall take the benefit of any act now or hereafter in force for bankrupt or insolvent debtors or if a receiver or receiver and
manager shall be appointed in respect of all or any part of the Tenant’s assets and undertaking; or

 

		(e)	any proceedings shall be taken by the Tenant or any of its shareholders in connection with the
liquidation or dissolution of the Tenant; or

 

		(f)	the leased premises, or any part thereof, shall, without the written consent of the Landlord, be
used by any persons other than such as are entitled to use them under the terms of this lease; or

 

		(g)	the leased premises shall, without the prior written consent of the Landlord, be left vacant for
more than 15 days or such shorter period as may result in any policy of insurance maintained pursuant to Article 5 becoming void
or otherwise affected in accordance with the terms thereof (other than by reason of destruction or partial destruction as referred
to in Section 8.1 or be abandoned by the Tenant;

 

then and in every such case,

 

		(a)	the then current month’s rent and the next ensuing 3 months’ rent and all taxes, rates,
duties, levies and other charges (including, without limitation, goods and services tax) to be paid by the Tenant or the accrued
portion thereof shall immediately become due and payable and such accelerated rent and taxes, rates, duties, levies and other charges
shall be recoverable by the Landlord in the same manner as the rent hereby reserved and the Landlord may, at its option, re-enter
the leased premises or any part thereof in the name of the whole and resume actual possession thereof and thereafter shall have,
possess and enjoy the leased premises as if this lease had not been made whereupon the Term shall there by become forfeited and
determined; or

 

    16 

     

    

		(b)	the Landlord may, at its option, as agent of the Tenant enter into or upon and relet the leased
premises or any part or parts thereof for the whole or any part or parts of the then unexpired Term. The Landlord may, in so reletting
the same, make changes, alterations and modifications in and to the leased premises or any part or parts thereof and may receive
and collect all rent payable by reason of such reletting, the Tenant shall remain liable to pay the rent herein reserved in the
manner provided for in this lease and the Landlord shall credit the Tenant with the excess over the rent herein reserved due or
accruing due in such period of the net rent for such period realized by the Landlord by reason of such reletting, as the same is
received by the Landlord. For the purposes of this Section the net rent realized by the Landlord shall mean the net proceeds of
such reletting after deducting all costs, charges and expenses of every nature and description incurred by the Landlord in so entering
into or upon the leased premises and reletting the same, including without limitation, cost of changing, altering, or modifying
the leased premises, or any part or parts thereof and real estate agents commissions and legal fees.

 

8.3.           
Right of Action

 

The Landlord may in addition to the foregoing
remedies and regardless of whether it does or does not re-enter the leased premises or terminate this lease, sue for rent and/or
damages and enforce any alleged breach of any covenant or condition of this lease.

 

8.4.           
Effect of Waiver or Forbearance

 

No waiver by the Landlord or the Tenant
of any breach by the other party of any of its covenants, agreements or obligations in this lease shall be or be deemed to be a
waiver of any subsequent breach thereof or of the breach of any other covenant, agreement or obligation nor shall any forbearance
by the Landlord or the Tenant to seek a remedy for any breach by the other party be or be deemed to be a waiver by the party so
forbearing of its rights and remedies with respect to such breach or any subsequent breach.

 

8.5.           
Waiver of Exemptions

 

Notwithstanding anything contained in any
present or future legislation relating to or governing the relationships between landlords and tenants (“applicable legislation”),
none of the fixtures, goods or chattels of the Tenant at any time during the continuance of the Term on the leased premises shall
be exempt from levy by distress for rent in arrears, and upon any claim being made for such exemption by the Tenant or on distress
being made by the Landlord, this covenant and agreement may be pleaded as an estoppel against the Tenant in any action brought
to test the right to the levying upon any such goods as are named as exempted in applicable legislation; the Tenant waiving, as
it hereby does, all and every benefit that would or might have accrued to it under and by virtue of any applicable legislation
but for this covenant.

 

8.6.           
Landlord or Tenant May Perform Other’s Covenants

 

		(a)	If the Tenant shall fail to perform any of its covenants, agreements or obligations under or in
respect of this lease (including, without limitation, the obligation to make from time to time the payments to be made by it hereunder),
the Landlord may, in addition to and not in lieu of or in substitution for any other rights that it may have hereunder this lease
by reason of such failure, perform or cause to be performed any of such covenants, agreements or obligations or any part thereof
and for such purpose may do such things as may be necessary or desirable to perform the same or cause the same to be performed,
which shall, without limitation, include entering upon the leased premises (forcibly or otherwise) and doing such acts and things
upon or in respect of the leased premises or any part or parts thereof as the Landlord may consider necessary or desirable; and
all expenses incurred and expenditures made by or on behalf of the Landlord hereunder together with interest thereon at the agreed
rate from the date of payment by the Landlord shall be charged to and paid by the Tenant as additional rent thereon together with
an additional management fee and charge payable by the Tenant to the Landlord in the amount of 5% of the costs incurred by the
Landlord in performance of such Tenant’s obligations.

 

    17 

     

    

		(b)	If the Landlord shall, fail to perform any of its covenants, agreements or obligations under or
in respect of this lease (including, without limitation, the obligation to make from time to time the payments to be made by it
hereunder), the Tenant may, after five (5) days prior written notice to the Landlord, perform or cause to be performed any of such
covenants, agreements or obligations or any part thereof and for such purpose may do such things as may be necessary or desirable
to perform the same or cause the same to be performed, and all third party expenses incurred and expenditures made by or on behalf
of the Landlord hereunder together with interest thereon at the agreed rate from the date of payment by the Tenant shall be charged
to and paid by the Landlord. If the Landlord fails to make any such payment, the Tenant may deduct the amount thereof from installments
of basic rent falling due after the date of payment by the Tenant, provided that, in the event that the Landlord, after receipt
of the written notice provided for herein from the Tenant, commences in good faith to commence or perform such of the Landlord’s
covenants, agreements or obligations, in an expeditious manner, having regard to weather, environmental conditions, labour and
access to materials and permits, then the Tenant shall not be entitled to undertake such covenants, agreements or obligations on
the Landlord’s behalf, as herein provided that the Landlord proceeds in a diligent and workmanlike manner.

 

8.7.           
Sale or Mortgage of Leased Premises

 

		(a)	In the event of any sale by the Landlord of the leased premises at any time during the Term, the
Tenant shall execute and deliver on the closing of such sale such acknowledgments of the validity and subsistence of this lease
and the condition of the leased premises as the Landlord may reasonably require, without charge to the Landlord. Upon sale of the
leased premises, the Landlord shall be released of its obligations hereunder provided that the purchaser of the leased premises
shall covenant directly with the Tenant to assume the obligations of the Landlord hereunder.

 

    18 

     

    

		(b)	This lease shall be postponed to and shall be subject and subordinate to any present or future
mortgage and to any extension, renewal, modification, consolidation or replacement of any such mortgage. The Tenant shall attorn
to and become tenant of the mortgagee under any such mortgage. The Tenant shall give such further assurances of the postponement,
subordination and attornment provided for in this Section and such acknowledgments of the validity and subsistence of this lease
and the condition of the leased premises as the Landlord or any such mortgagee may from time to time reasonably require, without
charge to the Landlord. Provided, however, such postponement, subordination and attornment shall be upon the express condition
that the validity of this lease and its terms shall be recognized by the mortgagee, and that, notwithstanding any default by the
mortgagor with respect to such mortgage or any foreclosure thereof, the Tenant’s possession and right of use under this lease
in and to the leased premises shall not be disturbed by such mortgagee unless and until the Tenant shall breach any of the provisions
hereof and this lease or the Tenant’s right to possession hereunder shall have been terminated in accordance with the provisions
of this lease.

 

8.8.           
Overholding

 

If at the expiration of the original Term
and any renewal period for which the leased premises are demised and leased by Article 2, the Tenant shall continue to occupy the
leased premises for any reason without further written agreement, the tenancy of the Tenant thereafter shall be deemed to be a
month to month tenancy only at a monthly basic rent based upon an annual rental of $4.20 per square foot per annum, for a three
(3) month period, and thereafter during any period of overholding by the Tenant, Basic Rent shall be calculated at 175% of the
Basic Rent per square foot per annum calculated on the Basic Rent for the year in which the Lease terminates, plus the Additional
Rent and all other charges, and otherwise on the terms and conditions of this lease, except as to length of tenancy or any free
rental period.

 

8.9.           
Notice of Lease

 

Upon the request of either the Landlord
or the Tenant, the other party shall join in the execution of a notice of this lease for the purpose of registration against the
title to the Lands. Except to the extent required by law, this indenture, as such, shall not be registered against the title to
the Lands or be included as part of any such notice of lease, without the prior written consent of the Landlord. The Tenant shall
pay and satisfy the Landlord’s costs in so doing.

 

8.10.       
Covenant as to Reasonable Action

 

Each of the Landlord and the Tenant shall
at all times act reasonably and without undue delay in performing its obligations and exercising its rights under this lease.

 

8.11.       
No Waiver of Certain Rights

 

Subject to the provisions of this lease,
the Tenant does not contract out of or waive or relinquish any of the provisions of the Commercial Tenancies Act (Ontario)
as it may be amended from time to time or any existing or future statute relating to the relationship between landlords and tenants.

 

    19 

     

    

ARTICLE
9

TENANT’S OPTION TO PURCHASE

 

9.1.           
The Landlord hereby grants to the Tenant an option (the “Option”) to
purchase all, but not less than all of the Lands and the Buildings to be exercised during the Term, at a date after March 1, 2017,
but which Option may not be exercised by the Tenant during any renewal or extended term of the Lease. The date of closing of such
purchase shall be at a time selected by the Tenant, but in any event no later than sixty (60) days after the exercise of the Option
(herein called the “Purchase Date”). For greater certainty, should the written notice of Tenant exercise of the Option
not be received by the Landlord by midnight on September 30, 2020, the Option shall be null and void and of no further force and
effect. The Option may only be exercised if the Tenant is in physical possession of the whole of both 22 and 30 Worcester Road,
Toronto, Ontario. The Option is not assignable and is personal to the Tenant. The purchase price for the Lands and the Buildings
(the “Purchase Price”) hereunder shall be established in accordance with Section 9.2, subject to the adjustments set
out below, all upon and subject to the following terms and conditions: The

 

		(a)	Tenant shall be entitled to exercise the Option only during the time limited as aforesaid and only
if, at the time of exercise of the Option, it shall have paid all rent then due and payable hereunder and if there shall exist
no event of default under Section 8.2;

 

		(b)	Tenant shall provide a deposit (the “Deposit”) of CAD$250,000., payable to the Landlord’s
legal counsel in trust, to be held as earnest money for the completion of the transaction, and which Deposit shall be credited
to the Purchase Price on Closing;

 

		(c)	exercise of the Option shall be made by the Tenant delivering written notice to the Landlord of
its intention to exercise the Option within the time periods set out herein;

 

		(d)	transaction of purchase and sale of the Lands and the Building shall be completed on the Purchase
Date; and

 

		(e)	Tenant shall have 30 days from the date of exercise of the Option to search title to the Lands
and the Building at its own expense. If within that time the Tenant makes any valid objection to the title to the Lands and the
Building to the Landlord in writing which the Landlord is unable or unwilling to remove and which the Tenant will not waive, the
Landlord may terminate the agreement of sale arising upon exercise of the Option and neither party will be liable to the other
for any costs or damages. Should no valid objection to the title of the Landlord to the Lands and the Building be made within such
30-day period, the Landlord’s title shall be deemed to have been accepted. The Tenant shall accept title to the Lands subject
to the permitted encumbrances (the “Permitted Encumbrances”) set out in Schedule “B” annexed hereto at
the time of Closing, all of which Permitted Encumbrances shall have been complied with or in good standing at the time of Closing.

 

    20 

     

    

On the Purchase Date:

 

		(i)	the Landlord shall deliver to the Tenant a Transfer of the Lands (which shall be in the form sufficient
to convey or transfer ownership of the Buildings also), free and clear of all liens, charges and encumbrances other than this lease
(but subject to an undertaking to deliver a discharge of any mortgage held by a mortgagee which is a bank or other recognized financial
institution) and subject to the Permitted Encumbrances;

 

		(ii)	the Tenant shall deliver to the Landlord a certified cheque or wire transfer drawn on a Canadian
chartered bank payable to or to the order of the Landlord for the Purchase Price, subject to adjustment, as of the Purchase Date,
for rent, whether prepaid, owing or accrued; and

 

		(iii)	all other usual and customary conveyance documents as either party may reasonably require.

 

The Option, when exercised, shall constitute
a binding contract of purchase and sale upon and subject to the terms and conditions set out in this Article and time shall in
all respects be of the essence thereof.

 

The Buildings shall be and remain at the
risk of the Tenant until the Purchase Date and in the event of partial or complete destruction of the Building after the exercise
of the Options, the Tenant shall complete the purchase and the Landlord shall release to the Tenant on the Purchase Date all of
the Landlord’s interest in the insurance policies under which the Buildings are insured, and proceeds thereof.

 

The transfer will be prepared at the expense
of the Landlord, and the Tenant will bear costs of registration and taxes payable thereon.

 

Any tender of documents or money on the
Purchase Date may be made upon the Landlord or its solicitors or upon the Tenant or its solicitors, as the case may be, and the
Purchase Price and any other money payable shall be paid by certified cheques drawn on or banker’s draft of a Canadian chartered
bank, at par Toronto.

 

The Option shall be effective only if the
provisions of the Planning Act (Ontario) are complied with. The Landlord will, at its cost and expense, make and diligently
pursue such applications as may be necessary for consent to severance of the Lands from any abutting land owned by it forthwith
after exercise of the Option.

 

9.2.           
Purchase Price Formula

 

The Purchase Price shall be established
by averaging an appraisal obtained by the Landlord and one by the Tenant. Each appraisal shall be given by a certified appraiser
under the Appraisal Institute of Canada. The costs of such appraisals shall be borne by each of the respective commissioning parties.
In arriving at the Purchase Price the parties shall reduce the Purchase Price by the value of the Tenant’s unamortized leasehold
improvement costs (determined at the month of the Closing) incurred by the Tenant at 22 Worcester Road, Toronto, Ontario, to a
maximum reduction of CAD$250,000.

 

    21 

     

    

ARTICLE
10

FIRST REFUSAL RIGHT

 

10.1.       
 

 

		(a)	If at any time during the Term of this lease, the Landlord or successor or assignee shall wish
to sell the Lands and the Building, the Landlord shall give notice (the “Offer”) in writing to the Tenant offering
to sell the same to the Tenant and setting out the purchase price (the “Purchase Price”) at which it is willing to
sell the same and the business day (which shall be at least 60 days but not more than 180 days after the date on which such notice
is given) on which the proposed sale is to be completed (the “Purchase Date”).

 

		(b)	The Tenant shall be entitled to receive an Offer only if, at the relevant time, it shall have paid
all rent then due and payable hereunder and there shall exist no event of default under Section 8.2.

 

		(c)	Acceptance of the Offer shall be made by the Tenant delivering written notice to the Landlord of
its acceptance of the Offer within 5 business days after the Offer is made. The Offer shall provide for a deposit, by way of earnest
money, in the amount of CAD$250,000. to be paid by the Tenant to the Landlord’s legal counsel in trust, which Deposit shall
be applied to the Purchase Price on Closing.

 

		(d)	If the Tenant shall not accept the Offer in accordance with the provisions of subsection (c), the
Landlord may offer the Lands and the Building on the open market, at a price not less than the Purchase Price contained in the
Offer made by the Landlord to the Tenant and otherwise subject to the terms and conditions no more favourable to a purchaser than
pursuant to which the Landlord’s offer was made to the Tenant. If the Lands and the Building are not sold to a third party
arms-length purchaser at a price not less than the Purchase Price contained in the Offer and otherwise upon and subject to terms
and conditions no more favourable to a purchaser than those upon which the Offer was made within 180 days of the Tenant’s
refusal of the Offer, the Landlord shall be obliged to follow the procedure provided for in subsection (a) hereof in connection
with any subsequent offer of the Lands and the Building for sale.

 

		(e)	The Offer shall be subject to the Tenant having 30 days from the date of acceptance of the Offer
to search title to the Lands and the Building at its own expense. If within that time the Tenant makes any valid objection to the
title to the Lands and the Building to the Landlord in writing which the Landlord is unable or unwilling to remove and which the
Tenant will not waive, the Landlord may terminate the agreement of sale arising upon acceptance of the Offer and neither party
will be liable to the other for any costs or damages. Should no valid objection to the title of the Landlord to the Lands and the
Building be made within such 30-day period the Landlord’s title shall be deemed to have been accepted. The Tenant shall accept
Title to the Lands subject to the Permitted Encumbrances.

 

    22 

     

    

		(f)	On the Purchase Date the:

 

		(i)	Landlord shall deliver to the Tenant a transfer of the Lands and the Building, free and clear of
all liens, charges and encumbrances other than this lease and subject to the Permitted Encumbrances; and

 

		(ii)	Tenant shall deliver to the Landlord a certified cheque or wire transfer of a Canadian chartered
bank payable to or to the order of the Landlord for the Purchase Price, less the Deposit, subject to adjustments, as of the Purchase
Date, for rent, whether prepaid, owing or accrued.

 

		(g)	The Building shall be and remain at the risk of the Tenant until the Purchase Date and in the event
of partial or complete destruction of the Building after the acceptance of the Offer, the Tenant shall complete the purchase and
the Landlord shall release to the Tenant on the purchase date all of the Landlord’s interest in the insurance policies under
which the Building is insured, and proceeds thereof.

 

		(h)	Any tender of documents or money on the purchase date may be made upon the Landlord or its solicitors
or upon the Tenant or its solicitors, as the case may be, and the purchase price and any other money payable shall be paid by certified
cheques, or banker’s draft, of a Canadian chartered bank, at Toronto.

 

		(i)	The agreement resulting from the Right of First Refusal and the acceptance thereof shall be effective
only if the provisions of the Planning Act (Ontario) are complied with. The Landlord will, at its cost and expense, make
and diligently pursue such applications as may be necessary for consent to severance of the Lands from any abutting land owned
by it forthwith after exercise of the option.

 

ARTICLE
11

GENERAL

 

The Landlord and the Tenant covenant and
agree with each other, as follows:

 

11.1.       
Notices

 

All notices and other communications under
this lease shall be deemed to have been duly given if personally delivered to the recipient at the address indicated herein, or,
if mailed first class postage prepaid, by registered or certified mail, or transmitted by electronic communication which provides
a printed copy, as follows:

 

    23 

     

    

if to the Landlord:

 

195 Fairbank Avenue

Toronto, Ontario M6B 3 V2

Attention: Mr. F. J. McLachlan

e-mail: finleymcl@aol.com

 

if to the Tenant, at 30 Worcester Road,
Toronto, Ontario, or by e-mail to ddellapenna@intellipharmaceutics.com, or at or to such other address located in the City
of Toronto, or to such other person as the party to whom notice is to be given may hereafter have designated by notice given in
the manner provided in this Section and

 

		(a)	if delivered by personal delivery as aforesaid, or if transmitted to the e-mail address as aforesaid,
shall be deemed to have been given at the time of delivery, if prior to 4:00 p.m. on a business day, and in any other case on the
first business day next following the date of delivery as aforesaid, and

 

		(b)	if mailed and addressed as aforesaid, shall be deemed to have been given on the third business
day following the mailing thereof. The Tenant shall, within five (5) days after written request from the Landlord execute and deliver
to the Landlord, or to any actual or proposed lender, purchaser or assignee of the requesting party, a statement or certificate
in such form as requested by the requesting party stating (if such is the case, or stating the manner in which such may not be
the case): (i) that this lease is unmodified and in full force and effect; (ii) the dates of commencement and expiry of the Term
and the dates to which Basic Rent and any other Rent, including any prepaid rent, have been paid; (iii) whether or not the lease
is in good standing or there is any existing default by either party under this lease and, if so, specifying such default; and
(iv) that there are no defences, counter claims or rights of setoff in respect of the obligations hereunder of the party giving
such statement or certificate.

 

    24 

     

    

11.2.       
The Tenant shall, within five (5) days after written request from the Landlord
execute and deliver to the Landlord, or to any actual or proposed lender, purchaser or assignee of the requesting party, a statement
or certificate in such form as requested by the requesting party stating (if such is the case, or stating the manner in which such
may not be the case): (i) that this lease is unmodified and in full force and effect; (ii) the dates of commencement and expiry
of the Term and the dates to which Basic Rent and any other Rent, including any prepaid rent, have been paid; (iii) whether or
not the lease is in good standing or there is any existing default by either party under this lease and, if so, specifying such
default; and (iv) that there are no defences, counter claims or rights of setoff in respect of the obligations hereunder of the
party giving such statement or certificate

 

11.3.       
If the Tenant fails to execute any certificate, agreement, instrument, or other
document as required by the foregoing provisions after request by the Landlord, then the Landlord shall have the right, without
limiting any other rights of Landlord hereunder or at law, to terminate this lease or to execute any such certificate, agreement,
instrument or document on behalf of the Tenant and in the Tenant’s name, for which purpose the Tenant hereby irrevocably
appoints the Landlord as the Tenant’s attorney pursuant to the Powers of Attorney Act (Ontario).

 

11.4.       
Severability

 

If any article or section or part or parts
of an article or section in this lease shall be or become illegal or unenforceable it or they shall be considered separate and
severable from the lease and the remaining provisions of this lease shall remain in full force and effect and shall be binding
upon the parties as though such article or section or part or parts of an article or section had never been included in this lease.

 

11.5.       
Cumulative Rights

 

No right or remedy conferred upon or reserved
to any party in this lease is intended to be inclusive of any other right or remedy herein or by law provided, but each shall be
separate and distinct and in addition to every other right or remedy given herein or now or hereafter existing at law.

 

11.6.       
Obligations to be Covenants and Conditions

 

All of the agreements and obligations of
any party under this lease shall be deemed to be covenants given by such party and conditions to be met by such party under this
lease whether or not the same are expressly set out herein as covenants and conditions.

 

11.7.       
Personal Representatives; Successors and Assigns

 

All rights, advantages, privileges, immunities,
powers and things hereby secured to any of the parties shall be secured to and exercisable by their respective personal representatives,
successors and permitted assigns, as the case may be, and all covenants, liabilities and obligations entered into or imposed hereunder
upon any of the parties shall be equally binding upon their respective personal representatives, successors and assigns, as the
case may be. In case of assignment or devolution of this lease to more than one person, firm or corporation either as Landlord
or Tenant, the obligations of such successor Landlords and/or Tennants hereunder shall be joint and several.

 

 

 

    25 

     

    

IN WITNESS WHEREOF
the Landlord and the Tenant have executed this Indenture.

 

	FINLEY W. McLACHLAN PROPERTIES INC.	 	INTELLIPHARMACEUTICS CORP.
	 	 	 
	Per:	/s/ F.J. McLachlan	 	Per:	/s/ Dr. Amina Odidi
	 	F.J. McLachlan	 	 	Authorized Signing Authority
	 	President	 	 	 
	 	 	 	I have authority to bind the Corporation.
	Per:	/s/ C.J. McLachlan	 	 	 
	 	C.J. McLachlan	 	 	 
	 	Secretary-Treasurer	 	 	 
	 	 	 	 	 
	We have authority to bind the Corporation	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	DUFFERIN LUMBER AND SUPPLY COMPANY LIMITED	 	 	 
	 	 	 	 
	 	 	 	 
	Per:	/s/ F.J. McLachlan	 	 	 
	 	F.J. McLachlan	 	 	 
	 	President	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	Per:	/s/ C.J. McLachlan	 	 	 
	 	C.J. McLachlan	 	 	 
	 	Secretary- Treasurer	 	 	 
	 	 	 	 	 
	We have authority to bind the Corporation	 	 	 

 

 

 

 

    26 

     

    

SCHEDULE “A”

 

Legal Description of the Lands

 

Pt Lot 24, Con 4, fronting on the Humber
being Pt 1, Ref Pl 64R12874 Etobicoke, City of Toronto, as described in PIN 07420-0005 (LT)

 

 

 

    27 

     

    

SCHEDULE “B”

 

Permitted Encumbrances

 

	INSTRUMENT	DATE OF REGISTRATION	PARTIES/DOCUMENT
	EB158733	1955/09/23	PLAN/MISC.
	EB216574	1959/06/17	NOTICE AIRPORT ZONING REGS.
	EB255931	1962/03/13	NOTICE
	EB344242	1968/06/10	BOROUGH OF ETOBICOKE
	EB412063	1973/01/29	NOTICE AIRPORT ZONING REGS.
	EB436906	1974/07/22	AGREEMENT WITH BOROUGH OF ETOBICOKE
	64R12874	1990/09/21	PLAN REFERENCE
	64R12877	1990/09/26	PLAN REFERENCE
	TB742647	1991/02/26	NOTICE
	E317117	2000/03/27	HER MAJESTY THE QUEEN IN RIGHT OF THE DEPARTMENT OF TRANSPORT CANADA – AIRPORT ZONING REGS.

 

28

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