Document:

Industrial Building Lease, dated as of July 18, 2007

 Exhibit 10.14 
  
 INDUSTRIAL BUILDING LEASE 
 Between:

 PHILLIP J. LATORIA, JR., Lessor 
 and 
 RUBICON TECHNOLOGY, INC., Lessee 
  

 TABLE OF CONTENTS 
  

	1.	Base Rent 

	2.	Optional Lease Period 

	3.	Security Deposit 

	4.	Lessor’s Agent 

	5	Lessee: Repairs and Other Covenants Regarding Care of Premises 

	6.	Lessor’s Repairs 

	7.	Alterations 

	8.	Lessee Not to Misuse; Sublet; Assignment 

	9.	Mechanic’s Lien 

	10.	Indemnity for Accidents 

	11.	Non-Liability of Lessor 

	12.	Utilities 

	13.	Water 

	14.	HVAC Equipment 

	15.	Access to Premises 

	16.	Failure to Yield Immediate Possession 

	17.	Extra Fire Hazard 

	18.	Default 

	19.	Abandonment of Premises 

	20.	Subordination; Estoppel Certificate 

	21.	Fire and Casualty 

	22.	Payment of Fees 

	23.	Notice 

	24.	Insurance 

	25.	Parking 

	26.	Waiver 

	27.	Inspection 

	28.	Environmental Compliance and Indemnification Agreement 

	29.	Snow Removal 

	30.	Safety and Health Compliance 

	31.	Quiet Possession 

	32.	Trade Fixtures 

	33.	Signage 

	34.	Additional Space 

	35.	Condemnation 

	36.	Building Rules and Regulations 

	37.	Rite of First Refusal 

	38.	Miscellaneous 

  

			
	DATE OF LEASE	  	TERM OF LEASE (“Term”)
	 July 18, 2007
	  	BEGINNING: July 12, 2007 (“Commencement Date”)
		  	ENDING: June 30, 2014 (“Expiration Date”)

  
  

 LOCATION OF PREMISES: 900 Green Street, Bensenville, Illinois 60106, consisting of approximately _30,500_ square feet, the legal description of which is attached hereto
as Exhibit A. 
  
  

 USE: The premises shall be used for Manufacturing and Office. 
  

  

							
	                LESSEE	  	                LESSOR
				
	NAME:	 	Rubicon Technology, Inc.	  	NAME:	 	Philip J. Latoria, Jr.
				
	ADDRESS:	 	 9931 Franklin Ave.
 Franklin Park, Illinois
60131
	  	ADDRESS:	 	 3707 King George Lane
 St. Charles, Illinois
60174

				
	PHONE:	 	847 295 7000	  	PHONE:	 	630 587 4267
				
	FAX:	 	847 295 0932	  	FAX:	 	630 587 4268

 In consideration of the mutual covenants and agreements herein stated, Lessor hereby leases to
Lessee and Lessee hereby leases from Lessor solely for the above purpose the premises designated above (the “Premises”), together with the appurtenances thereto and the improvement made or to be made by Lessor pursuant to Exhibit A
attached hereto, for the above Term; provided, however, that, Lessee shall have access to the Premises upon execution of this lease by Lessor and may begin construction of the improvements to be made by it and the placement of its equipment and
furnishings in the Premises. 
 BASE RENT 
 1. Lessee shall pay Lessor or Lessor’s agent as rent for the Premises the following amount: 
  

					
	 Year
	  	 Monthly
	  	 Total

	 July 17, 2007 to July 31, 2007
	  	$10,215.80	  	$10,215.80
	 August 1, 2007 to June 30, 2008
	  	$22,620.84	  	$248,829.24
	 July 1, 2008 to June 30, 2009
	  	$23,994.42	  	$279,593.00
	 July 1, 2009 to June 30, 2010
	  	$23,998.33	  	$287,280.00
	 July 1, 2010 to June 30, 2011
	  	$24,718.25	  	$296,619.00
	 July 1, 2011 to June 30, 2012
	  	$25,462.42	  	$305,517.00
	 July 1, 2012 to June 30, 2013
	  	$26,223.50	  	$314,682.00
	 July 1, 2013 to June 30, 2014
	  	$27,010.17	  	$324,122.00

 The Lessee shall pay additional Rent in the amount of all real estate taxes assessed against the
subject property in excess of the greater of (i) $1.10 per foot on an annual basis and (ii) the real estate 

 
taxes levied on the subject property for the first year in which the improvements on the property are full assessed by the DuPage County Assessor (the
“Tax Stop”). Any additional rent for tax payments shall be due in full 15 days after the Lessee is in receipt of the Lessor’s request for payment, which request for payment shall also include a copy of the bill for which the
additional rent is being charged. This additional rent shall be billed in May and August unless the real estate tax bills are delayed. Lessor shall promptly deliver to Lessee copies of all notices received by Lessor relating to the real estate taxes
on the Premises. Lessee shall have the right to contest any assessment at its own expense but, if the taxes are reduced below the Tax Stop, the cost shall be equitably shared by Lessor. 
 All rent shall be paid by Lessee to Lessor monthly in advance on the first day of every calendar month, at the address shown in paragraph 4, or such
other place as Lessor may designate in writing from time to time. All rent shall be paid without prior demand or notice and without any deduction or offset whatsoever. All rent shall be paid in lawful currency of the United States of America.

 All rent due for any partial month shall be prorated at the rate of 1/30th of the total monthly rent per day. Lessee acknowledges that
late payment by Lessee to Lessor of any rent or other sums due under the lease will cause Lessor to incur costs not contemplated by this Lease, the exact amount of such cost being extremely difficult and practical to ascertain. Such costs include,
without limitation, processing and accounting charges, and late charges that may be imposed on Lessor by the terms of any encumbrance or note secured by the Premises. Therefore, if any rent or other sum due from Lessee is not received by the tenth
day of the month, Lessor may charge Lessee, and Lessee shall pay, an additional sum of five hundred ($500.00) dollars. Lessor and Lessee hereby agree that such late charge represents a fair and reasonable estimate of the costs that Lessor will incur
by reason of any such late payment and that the late charge is in addition to any and all remedies available to the Lessor and that the assessment and/or collection of the late charge shall not be deemed a waiver of any other default. Additionally,
all such delinquent rent or other sums, plus this late charge, shall bear interest at the lesser of 12% per annum or the then maximum lawful rate permitted to be charged by Lessor, whichever is greater. Any payments of any kind returned for
insufficient funds will be subject to an additional handling charge of $50.00, and thereafter, Lessor may require Lessee to pay all future payments of rent or other sums due by money order or cashier’s check. 
 OPTIONAL LEASE PERIOD 
 2. There shall be 3 one year
options to extend this lease at the following rates: 
  

							
	 July 1, 2014 to June 30, 2015
	  	$	27,820.42	  	$	333,845.00
	 July 1, 2015 to June 30, 2016
	  	$	28,655.00	  	$	343,860.00
	 July 1, 2016 to June 30, 2017
	  	$	29,514.59	  	$	354,175.00

 To exercise the option to extend this lease for an additional year, the Lessee shall give written
notice at least nine (9) full months before the expiration of the current lease term. All other terms of this lease shall be in full force and effect during any option period. 
 SECURITY DEPOSIT 
 3. Lessee shall deposit with Lessor the sum of $25,000, as security for the full
and faithful performance of the terms of this Lease. Such amount shall be deposited in a savings or money market account at a federally insured bank in the Chicagoland area for the mutual benefit of Lessor and Lessee and, at least annually, Lessor
shall pay to Lessee the amount of interest earned on the amount on deposit. In the event default shall be made in payment of rent or other sums required to be made by Lessee or default shall be made by Lessee in the performance of any of the other
covenants, agreements or conditions by it to be 

 
kept and performed hereunder, Lessor may, at its election, after notice and the expiration of any applicable cure period with such default being uncured,
apply the funds so deposited in payment of Rent or other sums due hereunder or in remedying any other default hereunder. Within sixty (60) days after the expiration of the tenancy, provided Lessee shall not be in default, Lessor shall return to
Lessee such portion of said deposit then remaining, with any earned but unpaid interest. 
 The security deposit shall not be utilized as the
last month’s rental. 
 The Lessee shall be granted full access to the building upon the execution of this Lease and upon depositing the
security deposit provided for above with the Lessor. 
 LESSOR’S AGENT 
 4. Phillip J. Latoria, Jr. is hereby designated as Lessor’s Agent for all purposes under this lease and the rent specified hereunder shall be payable
to Phillip J. Latoria and shall be mailed to: 
 Phillip J. Latoria, Jr. 
 3707 King George Lane 
 St. Charles, Illinois 60174 
 LESSEE REPAIRS AND OTHER COVENANTS REGARDING CARE OF PREMISES 
 5. Lessor warrants and represents to Lessee that Lessor has no knowledge of any defects in construction, materials or operation of the premises, including
the structure, the HVAC systems and the utilities serving the premises and that, as of the date hereof, the premises are in compliance with all applicable laws and ordinances. Lessee has examined and knows the condition of the Premises and has
received the same in good order and repair, and acknowledges that no representations as to the condition and repair thereof have been made by Lessor, or his agent, prior to or at the execution of this lease that are not herein expressed; Lessee
shall in addition to all other covenants and obligations specified herein keep the Premises in a clean and healthful condition according to the applicable municipal ordinances and the direction of the proper public officers during the term of this
lease at Lessee’s expense, and upon the termination of this lease, in any way, will yield up the Premises to Lessor, in good condition and repair, loss by fire and ordinary wear and tear excepted, and will deliver the keys therefor at the place
of payment of said rent. 
 Lessee shall, at its own expense and cost, keep and maintain all parts of the Premises in good condition,
promptly making all necessary repairs and replacements, including but not limited to Exterior of the building, all landscaping, the parking lot, windows, window cleaning inside and outside, glass and plate glass, doors, any special office entry,
interior walls and finish work, light bulbs, fluorescent lighting bulbs and ballasts, floor covering, HVAC system, hot water heater and, electrical distribution within the Premises, plumbing work and fixtures, blockages of sewer lines within the
Premises, all fixtures, appurtenances, equipment and mechanical apparatus within the demised premises, daily removal of spoilable interior trash and at least one weekly exterior trash removal keeping the whole of the Premises in a clean and sanitary
condition. 
 Lessee shall promptly comply with all laws and ordinances and lawful orders and regulations affecting the Premises and the
cleanliness, safety, occupancy and use of same, including, without limitation, compliance with the Americans With Disabilities Act (“AD Act”) to the extent that the AD Act applies to Lessee’s operations within the Premises. Lessee
hereby covenants and agrees not to permit, commit or suffer to exist any condition which might result in a violation of the AD Act, and if any such condition should occur, to immediately remedy any such condition. 
  

 Lessee shall not damage any demising wall or disturb the integrity and support provided by any demising
wall and shall, at its sole cost and expense, promptly repair any damage or injury to any demising wall caused by Lessee or its employees, agents, customers, invites, and/or licensees. 
 All of this Section 5 is subject to Lessor’s obligations under Section 6 below. 
 LESSOR’S REPAIRS 
 6. Lessor is providing a newly
constructed building and Lessee is responsible for all maintenance and repairs of any type, except for any defect in construction or equipment provided by Lessor for a period of three (3) years after the Commencement Date. After such 3 years
Lessor will assign to Lessee any manufacturer or other third party warranties. 
 Lessor agrees to give Lessee reasonable advance notice for
entry into and repairs to the demised premises and to perform such repairs with minimal disruption to Lessee’s operations. 
 ALTERATIONS

 7. Except for (i) the improvements, alterations and additions described in Exhibit B attached hereto, which may be made by Lessee
at its expense and which Lessor hereby approves and authorizes Lessee to make at its convenience without the need for any further approvals by Lessor and (ii) alterations, improvements or additions Lessee may desire to make from time to time
during the Term, which are of a decorative or cosmetic nature or which do not materially affect the structure or the systems of the building. Lessee shall not make any alterations, additions or improvements to the Premises (including but not limited
to roof and wall penetrations) without the prior written consent of Lessor, such consent will not be unreasonably withheld. All alterations, additions, improvements, and partitions erected by Lessee, except those permitted under (i) or
(ii) above, shall be and remain the property of Lessee during the term of this lease, and Lessee shall, unless Lessor otherwise elects by written notice to Lessee to have Lessee leave any or all of such alterations, additions or improvement as
hereinafter provided, remove all alterations, additions, improvements, and partitions erected by Lessee and restore the Premises to their original condition by the date of termination of this lease or upon earlier vacating of the Premises.

 Lessor may impose such conditions with respect thereto as Lessor deems reasonably appropriate, including, without limitation, requiring
Lessee to furnish Lessor with security for the payment of all costs to be incurred in connection with such work and insurance against liabilities which may arise out of such work. The work necessary to make any alterations, improvements or additions
to the premises shall be done at Lessee’s expense by employees of or reputable contractors hired by Lessee and approved by Lessor which approval will not be unreasonably withheld or delayed. Lessor agrees that it will not unreasonably withhold
consent to permit Lessee to make said alterations, improvements or additions. Lessee shall promptly pay to Lessor or to Lessee’s contractors, as the case may be, when due, the cost of all such work and of all decorating required by reason
thereof, and upon completion deliver to Lessor, if payment is made directly to contractors, evidence of payment, contractors’ statements and affidavits and full and final waivers of all liens for labor, services or materials, and Lessee shall
protect, defend, indemnify and hold Lessor harmless from all costs, damages, liens and expenses related thereto. All work done by Lessee or its contractors pursuant to this paragraph 7 or pursuant to paragraph 5 hereof shall be done in a first-class
workmanlike manner using only good grades of materials and shall comply with all insurance requirements and all applicable laws and ordinances and rules and regulations of governmental departments or agencies. 
  

 LESSEE NOT TO MISUSE: SUBLET: ASSIGNMENT 
 8. Lessee will not allow the Premises to be used for any purpose that will increase the rate of insurance thereon, nor for any purpose other than that
herein before specified, and will not load floors with machinery or goods beyond floor load rating prescribed by applicable municipal ordinances, and will not allow the Premises to be occupied in whole, or in part, by any other person, and, except
as permitted hereafter, will not sublet the same or any part thereof, nor assign this lease without in each case the prior written consent of the Lessor, which consent shall not be unreasonably withheld and Lessee will not permit any transfer by
operation of law of the interest in the Premises acquired through this lease, and will not permit the Premises to be used for any unlawful purpose, or for any purpose that will injure the reputation of the building of which they are a part, or
increase the fire hazard of said building or disturb the Lessees of such building or the neighborhood, and will not permit the same to remain vacant or unoccupied with the rent being unpaid for more than ten consecutive days; and will not allow any
signs, cards or placards to be posted, or placed thereon, except for signs identifying Lessee’s business or identifying or restricting the means of access to or exit from the Premises. All equipment in or about the Premises shall be operated
solely at Lessee’s risk, except such as may be operated exclusively by Lessor. Lessor shall not unreasonably withhold its consent to sublet or assignment of Lessee’s interest under said lease. Nothing herein contained shall limit or waive
Lessor’s obligation to mitigate its damages in the event of Lessee’s default. 
 For purposes of this Section 8, a transfer of
the ownership interests controlling Lessee will be deemed an assignment of this Lease unless such ownership interests are publicly traded. Further, on the condition that Lessee is not in default of any term, covenant or condition of this Lease,
Lessee will have the right, with advance written notice to but without the consent of Lessor, to sublease the Premises, or a portion thereof, or assign this Lease to: 
 a) any corporation or entity which controls, is controlled by or is under common control with Lessee, on the condition that (x) such
sublease or assignment is for a good business purpose and not principally for the purpose of avoiding Lessor’s consent rights, (y) the proposed use of the Premises and the reputation, business, and financial responsibility of the proposed
sublessee or assignee are consistent with the first-class nature of the Building, and (z) in the case of an assignment, the assignee has a net worth sufficient to perform the obligations of the Lessee under this Lease; or 
 b) an entity into which Lessee is merged or consolidated or to an entity to which substantially all of Lessee’s assets are
transferred, on the condition that (x) such merger, consolidation or transfer of assets is for a good business purpose and not principally for the purpose of transferring Lessee’s leasehold estate, (y) the proposed use of the Premises
and the reputation and business of the proposed assignee or transferee are consistent with the nature of the Building, and (z) the assignee or successor entity has a net worth at least equal to the net worth of Lessee immediately before such
merger, consolidation or transfer. 
 Lessor will execute and deliver to Lessee, or at Lessee’s direction, a letter to Hercules
Technology Growth Capital, Inc. or any other secured lender of Lessee substantially as set forth in Exhibit C attached hereto. 
 MECHANIC’S LIEN

 9. Lessee has no authority to subject the interest of Lessor in the Premises to any mechanics’ or materialmen’s liens of any
kind, nor shall any provision contained in this lease ever be construed as empowering the Lessee to encumber or cause the Lessor to encumber the title or interest of Lessor in the 

 
Premises. However, if by reason of any alteration, repair, labor performed or materials furnished to the Premises for or on behalf of Lessee any
mechanic’s or other lien shall be filed, claimed, perfected or otherwise established as provided by law against the Premises, Lessee shall discharge or remove the lien or post security therefor with Lessor in a manner satisfactory to Lessor in
Lessor’s reasonable discretion within Fifteen (15) days after notice from Lessor to Lessee of the filing of same. 
 INDEMNITY FOR ACCIDENTS

 10. Lessee shall indemnify, defend and hold Lessor harmless from and against any and all claims or liabilities, including reasonable
attorney’s fees, for injuries to all persons and damage to or theft or misappropriation or loss of property occurring in or about the Premises arising from Lessee’s use of the Premises or any facilities thereto, or from the conduct of
Lessee’s business or from any activity, work or things done, permitted or suffered by Lessee in or about the Premises or elsewhere and shall further indemnify and hold Lessor harmless from and against any and all claims and liabilities arising
from any breach or default in the performance of any obligation on Lessee’s part to be performed under the terms of this lease, or arising from any act or omissions of Lessee, or any of Lessee’s agents, contractors, or employees, and from
and against all costs, attorney’s fees, expenses and liabilities incurred in the defense of any such claim or any action or proceeding brought thereon, and in case any action or proceeding be brought against Lessor by reason of any such claim,
Lessee upon notice from Lessor shall defend the same at Lessee’s expense by counsel reasonably satisfactory to Lessor, and Lessor shall cooperate with Lessee in such defense. Lessee, as a material part of the consideration to Lessor, hereby
assumes all risk of damage to property of Lessee or injury to persons, in, upon or about the Premises or any facilities thereto arising from any cause, except the act or neglect of Lessor or its agents, contractors and employees, and Lessee hereby
waives, to the extent not prohibited by law, all claims in respect thereof against Lessor. 
 NON-LIABILITY OF LESSOR 
 11. Except as otherwise provided in this lease or by law, Lessor shall not be liable for any damage occasioned by failure to keep the Premises in repair,
nor for any damage done or occasioned by or from plumbing, gas, water, telephone lines, sprinkler, steam, or other pipes or sewerage, or the bursting, leaking or running of any pipes, tank or plumbing fixtures, in, above, upon or about Premises or
any building of which Premises are a part or related improvement, nor for any damage occasioned by water, snow or ice being upon or coming through roof, skylights, trap door or otherwise, nor for any damages arising from acts, or neglect of
co-Lessee, or other occupants of such building or improvement, or of any owners, or occupants, of adjacent or contiguous property. 
 UTILITIES

 12. Lessee shall pay for all gas, heat, light, power, electricity, telephone or other services provided to the Premises after the date
upon which Lessee takes possession of the Premises, including without limitation, any and all additional meter fees, installation, hook-up fees or connection fees incurred on account of Lessor’s or Lessee’s improvements after the date of
this lease. 
 WATER 
 13. Lessee will
furnish during the term of this lease all necessary water for sanitary purposes, used in connection with the toilets and wash basins and for any other purposes located in the Premises. 
  

 HVAC EQUIPMENT 
 14. Lessee shall have all heating equipment installed by Lessor cleaned and serviced at Lessee’s expense, by a service company approved by Lessor at least once per year on or before November1st of each year and
all air conditioning equipment installed by Lessor cleaned and serviced at least once per year on or before July 1st. Lessee must provide written verification of servicing to Lessor within Thirty days after such service. If the servicing is not
done by the above dates each year, Lessor shall have the equipment serviced and Lessee shall remit payment to Lessor upon receipt. Subject to Lessor’s obligations under Section 6 of this lease, Lessee, at its sole expense, shall repair and
replace all HVAC equipment installed by Lessor and change its furnace filters on a regular basis. Nothing in this Section 14 shall limit Lessor’s obligations under Section 6 of this lease. 
 ACCESS TO PREMISES 
 15. Lessee will allow Lessor and
its agents, during the last nine (9) months of the term of this lease, reasonable access to the Premises for the purpose of examining or exhibiting the same, or to make any repairs or alterations thereof which Lessor may see fit to make, if
Lessee has vacated or abandoned the Premises, and will allow to have placed upon the Premises at all times notice of “For Sale” and “To Rent,” and will not interfere with the same. “For Sale” and “To Rent”
signs shall not interfere with Lessee’s business use and enjoyment of the premises. 
 FAILURE TO YIELD IMMEDIATE POSSESSION 
 16. Lessee will, at the termination of this lease by lapse of time or otherwise, yield up immediate possession to Lessor, and failing so to do, will pay
as liquidated damages for the whole time such possession is withheld, 150% of the base rental payable hereunder per day, but the provisions of this clause shall not be held as a waiver by Lessor of any right of re-entry, as hereinafter set forth,
nor shall the receipt of said rent, or any part thereof, or any other act in apparent affirmance of tenancy, operate as a waiver of the right to forfeit this lease and the term hereby granted for the period still unexpired, for a breach of any of
the covenants herein. 
 EXTRA FIRE HAZARD 
 17. There shall not be allowed, kept, or used on the Premises any flammable or explosive liquids or materials except such as may be necessary for use in the business of the Lessee, and in such case, any such substances shall be delivered in
amount, and stored, and used, in accordance with the rules of the applicable Board of Underwriters and statutes and ordinances, now or hereafter in force. If by reason of the failure of Lessee to comply with the provision of this paragraph, any
insurance coverage is jeopardized or insurance premiums are increased, Lessor shall have the right to require the Lessee to make immediate payment of the increased insurance premiums. 
 DEFAULT 
 18. Each of the following events shall constitute default or breach of this lease by Lessee:

 (a) If Lessee, or any successor or assignee of Lessee, while in possession, shall file a petition in bankruptcy or
insolvency or for reorganization under any Bankruptcy Act, or shall voluntarily 

 
take advantage of any such act by answer or otherwise, or shall make an assignment for the benefit of creditors. 
 (b) If involuntary proceedings under any Bankruptcy Law or Insolvency Act shall be instituted against Lessee, or if a receiver or trustee
shall be appointed of all or substantially all of the property of Lessee, and such proceeding shall not be dismissed with the receivership or trustee vacated within sixty (60) days after the institution or appointment. 
 (c) If Lessee shall fail to pay Lessor any rent or additional rent when the rent shall become due and shall not make the payment within 5
days after notice thereof by Lessor to Lessee. 
 (d) If Lessee shall fail to perform or comply with any of the conditions of
this lease and the nonperformance shall continue for a period of thirty (30) days after the notice thereof by Lessor to Lessee or if the performance cannot be reasonably had within the thirty (30) day period, Lessee shall not in good faith
have commenced performance within the thirty (30) day period and shall not diligently proceed to completion of performance. 
 (e) If Lessee shall vacate or abandon the demised Premises, with the rent being unpaid. 
 (f) If the lease or the
estate of the Lessee hereunder shall be transferred to or shall pass to any other person or party herein not permitted. Lessor shall not unreasonably withhold its consent to sublet or assignment of Lessee’s rights and obligations hereunder, and
Lessor acknowledges its obligation to mitigate damages in the event of Lessee’s breach or default. 
 In the event of any default
hereunder as set forth above, the rights of Lessor shall be as follows: 
 (a) Lessor shall have the right to cancel and
terminate this lease as well as all of the right, title and interest of the Lessee hereunder by giving to Lessee not less than 5 days notice of cancellation and termination. On the expiration of the time fixed in the notice, this lease and the
right, title and interest of Lessee hereunder shall terminate in the same manner and with the same force and effect except as to Lessee’s liability as if the date fixed in the notice of cancellation and termination were the end of the term
herein originally determined. 
 (b) Lessor may elect but shall not be obligated to make any payment required of Lessee
hereunder or comply with any agreement, and Lessor shall have the right to enter the demised Premises for the purposes of correcting or remedying any such default, and to remain until the default has been corrected or remedied, but any expenditures
for the correction by Lessor shall not be deemed to waive or release the default of the Lessee or the right of Lessor to take action as may be otherwise permissible under the case of default. 
 (c) Subject to the rights of any secured lender of Lessee under a letter agreement such as that provided for in Section 8 of this
lease, Lessor may reenter the Premises immediately and remove the personal property of Lessee and store the property in a public warehouse or a place selected by Lessor at the expense of Lessee. After re-entry, Lessor may terminate the lease upon
giving 5 days written notice of termination to Lessee. Without this notice, re-entry will not terminate the lease. Upon termination, Lessor may recover from Lessee all damage proximately resulting from the breach, including the cost of recovering
the Premises and the worth of the balance of this lease over a reasonable rental value of the Premises for the remainder of the lease term which sum shall be immediately due Lessor from Lessee. 
 (d) After re-entry, subject to the last sentence of clause (f) of this Section 18 above, Lessor may relet the Premises or any
part thereof for such rent for any term without terminating the liability of Lessee under this lease and on the terms Lessor may choose. Lessor may make alterations and repairs to the Premises. The duties and liabilities of the parties, if the
Premises are relet as provided herein, shall be as follows: 
  

 (1) In addition to Lessee’s liability to Lessor for breach of the lease, Lessee
shall be liable for all expenses of the reletting, including reasonable attorneys’ fees, and for the difference between the rent received from the Lessee to the new lease agreement and the rent installments that are due for the same period
under this lease. 
 (2) Lessor shall be required to apply the rent received from reletting the Premises: (i) to reduce
the indebtedness of Lessee to Lessor under the lease, not including indebtedness for rent; (ii) to expenses of reletting and alterations and repairs made; and (iii) to rent due under this lease; or (iv) to payment of future rent under
this lease as it becomes due. 
 If the new Lessee does not pay rent installments promptly to Lessor and the rent installment
has been credited in advance of payment to the indebtedness of Lessee other than rent, or if the rentals from the new lease have been otherwise applied by Lessor as provided herein and during any rent installment period or less than the rent payable
for the corresponding installment period under this lease, Lessee shall pay Lessor the deficiency separately for each rent installment deficiency period, and before the end of the rent period, Lessor may, at any time after reletting, terminate the
lease for the breach on which Lessor had based the re-entry and subsequently relet the Premises. 
 (e) Any payments made to
Lessor by a secured lender of Lessor shall be credited against any liability of Lessee to Lessor as if made by Lessee. 
 ABANDONMENT OF PREMISES 

 19. Should any of Lessee’s property remain on the Premises after the termination of this lease, Lessor shall have the right to dispose
or remove the property at the sole expense of Lessee. If Lessee shall vacate the Premises prior to the termination of this lease or shall be in default of the lease terms and absent from Premises or fail to conduct its business from the Premises for
a continuous period of fifteen (15) days, the property shall be considered abandoned; provided, however, that so long as Lessee pays rent pursuant to this Lease, the Premises shall not be considered abandoned, regardless of Lessee’s
absence or status of business use of the Premises. Any property remaining on the Premises shall be considered abandoned and Lessor shall have the right to dispose or remove the property at the sole expense of Lessee. Upon termination by breach,
default or otherwise, Lessee shall be given a reasonable opportunity to remove its property. Lessor may not remove or dispose of Lessee’s property without prior notice to Lessee, and without due process of law. All of Lessor’s rights under
this Section 19 shall be subject to the rights of any secured lender of Lessee as provided in any agreement made by Lessor pursuant to Section 8 of this lease. 
 SUBORDINATION; ESTOPPEL CERTIFICATE 
 20. At such time as Lessor or any mortgagee or proposed
mortgagee of the Premises may in writing request, subject to the rights of quiet enjoyment, Lessee agrees that this Lease shall be and is hereby made subject and subordinate to the lien of any mortgage (which terms shall include any and all security
instruments) of the Premises made by Lessor. Lessee agrees, upon demand and without cost, to execute any instrument as may be requested to additionally evidence such subordination, it being agreed by Lessee that no additional instrument or evidence
is necessary for this subordination to be effective. Lessee shall not be required to execute a subordination agreement which makes material changes to the Lease or imposes additional obligations, other than an obligation to provide notices to such
mortgage, on Lessee. 
  

 Not later than two (2) days after the execution of this lease and again whenever a new mortgage or
ground encumbers the Premises, Lessor shall procure and deliver to Lessee an agreement by any current or future mortgagee or ground lessor of the Premises that, notwithstanding any breach or default by Lessor, or such mortgagee or ground lessor
becomes the owner or the beneficiary of the owner of the Premises. Lessee’s possession of the Premises and its rights under this lease shall not be disturbed or terminated so long as Lessee is not in breach or default of this lease. 

Lessee agrees that from time to time upon not less than ten days’ prior request by Lessor, or the holder of any mortgage or any ground lease,
Lessee (or any permitted assignee, sublessee, licensee, concessionaire or other occupant of the Premises claiming by, through or under Lessee) will deliver to Lessor or the holder of any mortgage or ground lease, a statement in writing signed by
Lessee certifying: (a) that this Lease is unmodified and in full force and effect (or if there have been modifications, that this Lease, as modified, is in full force and effect and identifying the modifications); (b) the date upon which
Lessee began paying rent and the dates to which rent and other charges have been paid; (c) that Lessor is not in default under any provision of this Lease, or, if in default, the nature thereof in detail; (d) that the Premises have been
completed in accordance with the terms hereof and Lessee is in occupancy and paying rent on a current basis with no rental offsets or claims; (e) that there has been no prepayment of rent other than that provided in this Lease; (f) that
there are no actions, whether voluntary or otherwise, pending against Lessee under the bankruptcy laws of the United States or any state thereof; and (g) such other matters as may be required by Lessor, the holder of the mortgage or any ground
lessor. 
 FIRE AND CASUALTY 
 21. (a) If
the Premises, or any part of the building of which the Premises are a part shall be damaged by fire or other casualty and if such damage does not render all or a substantial portion of the Premises or such building untenantable in Lessor’s
reasonable discretion, then Lessor shall proceed to repair and restore with reasonable promptness the Premises, subject to reasonable delays for insurance adjustments and delays caused by matters beyond Lessor’s reasonable control. If any such
damage renders all or a substantial portion of the Premises or the building untenantable, Lessor shall, with reasonable promptness after the occurrence of such damage, estimate the length of time that will be required to substantially complete the
repair and restoration of the damaged areas of the Premises or building and shall give notice to advise Lessee of such estimate. If it is so estimated that the amount of time required to substantially complete such repair and restoration will exceed
two hundred seventy (270) days from the date such damage occurred or be beyond the end of the term, then Lessor shall have the right to terminate this Lease as of the date of such damage upon giving notice to the Lessee at any time within
twenty (20) days after Lessor gives Lessee the notice containing said estimate (it being understood that Lessor may, if it elects to do so, also give such notice of termination together with the notice containing said estimate); and, if such
damage or destruction shall occur during the last year of the term of this lease, Lessee may elect to terminate this lease by notice to Lessor within thirty (30) days of the date of such damage or destruction. Unless this Lease is terminated as
provided in the preceding sentence, Lessor shall proceed with reasonable promptness to repair and restore the base work applicable to the Premises, subject to reasonable delays for insurance adjustments and delays caused by matters beyond
Lessor’s reasonable control, and also subject to zoning laws and building codes then in effect. Lessor shall have no liability to Lessee, and 

 
Lessee shall not be entitled to terminate this Lease (except as herein provided) if such repairs and restoration are not in fact completed within the time
period estimated by Lessor, as aforesaid, or within said two hundred seventy (270) days or before the end of the term. If the Premises are not repaired or restored within twelve (12) months after the date of such fire or other casualty,
then either party may terminate this Lease, effective as of the date written notice is given to the other party, if given not later than thirty (30) days after the expiration of said twelve (12) month period, but prior to substantial
completion of repair or restoration; provided that such termination shall not limit or waive in any way Lessee’s rights to damages caused by Lessor’s failure to repair or restore the Premises within such two hundred seventy
(270) days. Notwithstanding anything to the contrary herein set forth, (a) Lessor shall have no duty pursuant to this paragraph to repair or restore any portion of the alterations, additions, or improvements owned or made by Lessee in the
Premises, or any personal property or fixtures of Lessee, and (b) Lessee shall not have the right to terminate this Lease pursuant to this paragraph if the damage or destruction was caused by the act or neglect of Lessee, its agents or
employees. 
 (b) In the event any such fire or casualty damage not caused by the act or neglect of Lessee, its agents or employees, render
the Premises untenantable and if this Lease shall not be terminated pursuant to the foregoing provisions of this paragraph 21 by reason of such damage and Lessee shall not then be in default under this Lease, then base rent and additional rental
shall abate during the period beginning with the date of such damage and ending with the date when Lessor substantially completes its repair and restoration work. Such abatement shall be in an amount bearing the same ratio to the total amount of
base rent for such period as the portion of the Premises that is untenantable bears to the entire Premises. In the event of termination of this Lease pursuant to this paragraph 21, base rent and additional rent shall be apportioned on a per diem
basis and be paid to the date of the fire or casualty. 
 PAYMENT OF FEES 
 22. In the event that either party brings suit to enforce the terms of this lease agreement, then the prevailing party shall be entitled to an award of
reasonable attorney fees payable by the party held to be in breach of its obligations under said lease. 
 NOTICE 
 23. Any notice, demand, request, consent, approval, or communication desired by either party, or required to be given, shall be in writing, duly
addressed, and deemed delivered (I) when personally delivered, (ii) one (1) day after deposit with a reputable overnight courier, (iii) three (3) days after being deposited with any main or branch United States post office
via certified first class mail return receipt requested, addressed as set forth below, or (iv) a facsimile transmission to the facsimile telephone number as set forth below with verification that such transmission was received by the other
party. Either party may change its address by notification to the other party. 
 Notice to Lessee shall be sent to the following address:

 Rubicon Technology, Inc. 
 Attn: Chief Executive Officer 
 9931 Franklin Avenue 
 Franklin Park, Illinois 60131 
  

 with a copy to: 
 Scott L. Glickson 
 McGuireWoods LLP 
 77 West Wacker Drive 
 Suite 4100 
 Chicago, Illinois 60601 
  
 Notice to Lessor shall be sent to
the following address: 
 Phillip J. Latoria, Jr. 
 3707 King George Lane 
 St. Charles, Illinois 60174 
 With a copy to: 
 Otto C. Stephani 
 100 W. Roosevelt Road 
 Suite A1 
 Wheaton, Illinois 60187 
 INSURANCE 

 24. Lessee hereby waives any and every claim for recovery from Lessor for any and all loss of or damage to Lessee’s property,
fixtures, equipment, or to the contents thereof within the demised premises unless due to the act or neglect of Lessor, his agent, contractor or employees, and Lessee hereby waives, to the extent not prohibited by law, all claims in respect thereof
against Lessor. Lessor agrees to provide a fire and extended coverage insurance policy insuring the building for its full replacement cost with a reputable and substantial company or companies of his choosing rated at least “A” by A.M.
Best’s Insurance Ratings. 
 Lessee shall carry: 
 (a) Public liability insurance which may be partially provided by an umbrella liability insurance policy during the entire term hereof covering both Lessee and Lessor as insured with terms and in companies
satisfactory to Lessor with limits of not less than $2,000,000.00/$5,000,000.00 for personal injury and $1,000,000.00 for property damage for any one occurrence. 
 (b) Insurance against fire, sprinkler leakage, vandalism, and the extended coverage perils for the full insurable value of all additions,
improvements and alterations to the premises made by Lessee and of all office furniture, trade fixtures, office equipment, merchandise and all other items of Lessee’s property on the premises. 
  

 (c) Loss of rents insurance made payable to the Lessor in the event of fire or other
casualty in an amount not less than the Lease payment amounts specified in paragraphs 1 and 2 hereof. 
 Lessee shall, prior to the
commencement of the Term, furnish to Lessor certificates evidencing such coverage, which certificates shall state that such insurance coverage may not be changed or cancelled without at least ten (10) days’ prior written notice to Lessor
and Lessee. 
 Lessee shall comply with all applicable laws and ordinances, all orders and decrees of court and all requirements of other
governmental authority, and shall not directly or indirectly make any use of the premises which may thereby be prohibited or which may jeopardize any insurance coverage, or may increase the cost of insurance or require additional insurance coverage.

 All insurance policies procured by Lessee in compliance with the provisions hereinbefore set out shall be subject to the approval of
Lessor as to substance and form, and evidence of such policies or duplicate of each of said policies shall be delivered to Lessor prior to Lessee’s occupancy of the Premises, and said policies or evidence thereof are to be held by Lessor during
the term of this lease or any extension thereof. The said insurance policies shall be in the usual and customary form, issued by responsible insurance companies rated at least “A” by A.M. Best’s Insurance Ratings. 
 Lessor and Lessee agree to have all fire and extended coverage and material damage insurance which may be carried by either of them endorsed with a
clause providing that any release from liability of or waiver of claim for recovery from the other party entered into in writing by the insured thereunder prior to any loss or damage shall not affect the validity of said policy or the right of the
insured to recover thereunder, and providing further that the insurer waives all rights of subrogation which such insurer might otherwise have against the other party. Without limiting any release or waiver of liability or recovery contained in any
other paragraph of this lease, but rather in confirmation and in furtherance thereof, each of the parties hereto waives all claims for recovery from the other party for any loss or damage to any of its property insured under valid and collectible
insurance policies to the extent of any recovery collectible under such insurance policies. Notwithstanding the foregoing or anything contained in this lease to the contrary, any release or any waiver of claim shall not be operative, nor shall the
foregoing endorsements be required, in any case where the effect of such release or waiver is to invalidate insurance coverage or the right of the insured to recover thereunder or increase the cost thereof (provided that in the case of increased
cost the other party shall have the right, within 10 days following written notice, to pay such increased cost, keeping such release or waiver in full force and effect). 
 PARKING 
 25. Lessee and its employees, agents, customers, invitees, and/or licensees shall have the
exclusive right to use parking areas. 
 WAIVER 
 26. No delay or omission in the exercise of any right or remedy by Lessor shall impair such right or remedy or be construed as a waiver of Lessor’s right to enforce such right or remedy nor shall any express waiver of any condition
expressed in this lease affect any condition other than the 

 
one specified in such waiver and that one only for the time and manner specifically stated. No act or conduct of Lessor, including without limitation,
acceptance of the keys to the Premises, shall constitute an acceptance of the surrender of the Premises and accomplish termination of the lease. Lessor’s consent to or approval of any act by Lessee requiring Lessor’s consent or approval
shall not be deemed to waive or render unnecessary Lessor’s consent to or approval of any subsequent act by Lessee. Any waiver by Lessor of any default must be in writing and shall not be a waiver of any other default concerning the same or any
other provision of the lease. 
 INSPECTION 
 27. Lessee shall give written notice to Lessor at least thirty (30) days prior to vacating the Premises and shall arrange to meet with Lessor for a joint inspection of the Premises prior to vacating. 
 ENVIRONMENTAL COMPLIANCE AND INDEMNIFICATION AGREEMENT 
 28. During the entire term of the lease, Lessee shall fully and strictly comply with all federal, state and local laws, ordinances, rules and regulations now or at any time hereafter in effect which regulate, relate to or impose liability
or standards of conduct concerning any Hazardous Substances, including without limitation the Comprehensive Environmental Response, Compensation and Liability Act, the Resource Conservation and Recovery Act, the Illinois Environmental Protection Act
and the Illinois Responsible Property Transfer Act (all such laws, ordinances, rules and regulations being herein collectively referred to as the “Environmental Laws”), and which directly or indirectly affect the use or occupancy of the
Premises by Lessee or anyone claiming by, through or under Lessee. Lessee shall not permit the Premises to be used to store or otherwise used to handle Hazardous Substances except where stored in sealed containers and in quantities normally
associated with businesses permitted to be conducted on the Premises or for office maintenance and cleaning and, in those instances, the Hazardous Substances shall be handled or stored in compliance with all Environmental Laws. Lessee acknowledges
that its compliance shall include, by way of illustration and not by way of limitation, the completion and timely filing of all reports and statements required pursuant to any Environmental Laws (copies of which shall, upon demand, be provided to
Lessor) and the payment of all charges, fees and costs that may be assessed or imposed from time to time in connection therewith; and the timely disclosure to Lessor upon request of any information required pursuant to the Illinois Responsible
Property Transfer Act (“Act”), as the same may be amended or replaced from time to time, in order to permit Lessor or others to make full and complete disclosures or filings as required pursuant to the Act. Lessee will provide to Lessor
copies of all manifests covering the handling and disposal of anti-freeze. 
 Lessor at any time, and from time to time (but not more often
than once in each year of the term), may at its option (but without any obligation to Lessee to do so) cause to be conducted any environmental tests, inspections or evaluations of the Premises as Lessor may deem reasonable or necessary in connection
with the use and occupancy of the Premises by Lessee or anyone claiming by, through or under Lessee. The selection of the person, firm or entity retained to complete such tests, inspections or evaluations shall be within the sole and absolute
discretion of Lessor. In connection therewith, Lessee shall permit Lessor and its environmental consultants or inspectors to have access to the Premises at all reasonable times and Lessee agrees to make or 

 
cause to be made available to Lessor or any such environmental consultant or inspector any information reasonably requested regarding the nature of any
Hazardous Substances used, stored or otherwise present at the Premises in connection with the use or occupancy of the Premises or any part thereof. Except as otherwise provided in this paragraph 28, any tests, inspections or evaluations conducted by
or for Lessor shall be at Lessor’s sole cost and expense. 
 If any environmental test, inspection or evaluation of the Premises
conducted by or on behalf of Lessor, Lessee, any leasehold mortgagee, any fee mortgagee or any governmental authority gives rise to liability under the Environmental Laws resulting from Lessee’s storage or use of Hazardous Substances on the
Premises, then Lessee shall, at its sole cost and expense, promptly take all applicable action in response so as to comply with all Environmental Laws and eliminate or avoid any liability claim with respect thereto. 
 Lessee’s failure to perform such applicable action required pursuant to the previous paragraph of this section shall entitle Lessor to take such
action after reasonable notice to Lessee and Lessee’s failure to cure such problem, and Lessee shall, immediately upon demand by Lessor, pay to Lessor all costs and expenses paid or incurred by Lessor as a result thereof. Lessee agrees to
indemnify, defend, and hold Lessor harmless from and against any and all losses, liabilities, claims, demands, penalties, fines, judgments, causes of action of suits and expenses (including attorneys’ fees, consultants’ fees, remedial
costs, removal costs and other expenses) which may arise or be asserted against Lessor in connection with (i) storage or use of Hazardous Substances on the Premises by Lessee, (ii) any personal injury (including wrongful death) or property
damage (real or personal) arising out of or related to any such presence, disposal, release or threatened release of any Hazardous Substances or (iii) any violations of or failure to comply with any environmental laws; but not including any
condition of which Lessor has knowledge as of the date hereof or which is caused by Lessor or any of his agents or contractors. 
 For
purposes of this lease, the term “Hazardous Substances” shall mean and include (a) any friable asbestos or asbestos containing material, polychlorinated biphenyls, dioxins or urea formaldehyde foam insulation; (b) any petroleum
products; (c) any waste, substance, material, pollutant or contaminant defined as hazardous or toxic (or for purposes of any Environmental Laws); and (d) any waste, substance, material, pollutant or contaminant the presence, disposal,
release or threatened release of which on, onto or from any Premises (including the Premises) or would constitute an Environmental Event or is governed by any applicable Environmental Laws. Lessor hereby warrants to Lessee that the premises, as of
the date of this lease, comply with each representation, agreement and condition made above as if made by Lessor and Lessor will indemnify and defend Lessee in the same manner and to the same extent as is provided above for Lessee to indemnify
Lessor, on account of any conditions existing as of the date of this lease. 
 SNOW REMOVAL 
 29. Snow removal from sidewalks, driveways and parking areas leading to the demised Premises shall be the sole responsibility of the Lessee at its
expense. Lessor shall not be held liable for any business interruptions due to failure to remove snow from parking or driveway areas. 
 SAFETY AND HEALTH
COMPLIANCE 
 30. Lessee shall comply with all lawful requirements of the local Board of Health, Police and Fire Departments, and
governmental authorities including, but not limited to the Occupational 

 
Safety and Health Act of 1970 and Federal and State Environmental Protection Act representing the manner in which Lessee uses the leased Premises, applicable
to Lessee’s occupancy. 
 QUIET POSSESSION 
 31. Upon Lessee paying the rent for the Premises and observing and performing all of the covenants, conditions, and provisions on Lessee’s part to be observed and performed hereunder, Lessee shall have quiet possession of the Premises
for the entire term hereof subject to all of the provisions of this Lease. 
 FIXTURES AND EQUIPMENT 
 32. All fixtures and equipment installed by Lessee in the Premises shall remain the property of the Lessee. Lessee may, without the consent of Lessor, but
at its own cost and expense and in a good workmanlike manner, install such fixtures and equipment as it may deem advisable, without altering the basic character of the building or improvements and without overloading or damaging such building or
improvements, and in each case complying with all applicable governmental laws, ordinances, regulations, and other requirements. All fixtures and equipment installed by Lessee may be removed by Lessee prior to termination of this lease if Lessee so
elects, and shall be removed by the date of expirations or earlier termination of this lease or upon earlier vacating of the Premises if required by Lessor; upon any such removal, Lessee shall restore the Premises to their original condition. All
such removals and restoration shall be accomplished in a good workmanlike manner so as not to damage the primary structure or structural qualities of the buildings and other improvements situated on the Premises. Lessee shall have the right, at the
termination of this Lease, to remove any and all trade fixtures, equipment and other items of personal property not constituting a part of the freehold which it may have stored or installed in the Premises including, but not limited to counters,
shelving, showcases, chairs, and movable machinery purchased or provided by Lessee and which are susceptible of being moved without damage to the building and the Premises, provided this right is exercised before the Lease is terminated and provided
that Lessee, at its own cost and expense, shall repair any damage to the Premises caused thereby. All such removal and restoration shall be performed in a good and workmanlike manner. The right granted Lessee in this paragraph shall not include the
right to remove any plumbing or electrical fixtures or equipment, heating or air conditioning equipment, floor-coverings (including wall-to-wall carpeting) glued or fastened to the floors, or any paneling, tile or other materials fastened or
attached to the walls or ceilings, all of which shall be deemed to constitute a part of the freehold, and, as a matter of course, shall not include the right to remove any fixtures or machinery that were furnished or paid for by Lessor. The Premises
and the immediate areas in front, behind and adjacent to it shall be left in a broom-clean condition. Should Lessee fail to comply with this provision, Lessor may deduct the cost of cleanup from Lessee’s Security Deposit. If Lessee shall fail
to remove its fixtures or other property at the termination of this Lease thereafter, such fixtures and other property not removed by Lessee shall be deemed abandoned by Lessee, and, at the option of Lessor, shall become the property of Lessor, or
disposed of by Lessor at Lessee’s cost and expense, such cost and expense being additional rent payable hereunder. 
 All of the
foregoing is subject to the terms and conditions set forth in Section 7 hereof (Alterations). 
  

 SIGNAGE 
 33. Lessee shall have the privilege of erecting a suitable business sign on the exterior of the building. Any such sign that may be erected shall conform to all regulations or ordinances of the Village of Bensenville or any other applicable
municipal authority regulating the erection, size, maintenance, or location of such sign. Lessee agrees to maintain and keep any sign in good repair and condition and pay any and all fees which may become due by virtue of the location of any such
sign on the subject Premises. Lessee shall remove such sign and repair any damage to the building caused thereby at its own expense at termination of said lease. All signage must be diagramed and approved in writing by Lessor before it is installed
to the Premises; provided that Lessor will not withhold approval so long as such sign complies with the applicable regulations and ordinances. 
 ADDITIONAL SPACE 
 34. There is no additional space. 
 CONDEMNATION 
 35. (a) Total: In the event the entire Premises shall be appropriated or taken under
the power of eminent domain by any public or quasi-public authority, this lease shall terminate and expire as of the date of title vesting in such proceeding, Lessee shall thereupon vacate the Premises and Lessee’s obligations to pay rent
hereunder shall cease. 
 (b) Partial: If any part of the Premises shall be taken as aforesaid, and such partial taking shall render that
portion not so taken unsuitable for the business of the Lessee, as reasonably determined by Lessor, then this Lease and the term herein shall cease and terminate as aforesaid. If such partial taking is not extensive enough to render the Premises
unsuitable for the business of Lessee, then this Lease shall continue in effect, except that the Base rent payable pursuant to paragraph 1 shall be reduced in the same proportion that the floor area of the Premises taken bears to the original floor
area leased and Lessor shall, upon and subject to receipt of the award in condemnation, make all necessary repairs or alterations to the building in which the Premises are located so as to constitute the portion of the building not taken a complete
architectural unit, but such work shall not exceed the scope of the work to be done by Lessor in originally constructing said building, nor shall Lessor, in any event, be required to spend for such work an amount in excess of the amount received by
Lessor as damages for the part of the Premises so taken. “Amount received by Lessor” shall mean that part of the award in condemnation which is free and clear to Lessor of any collection by mortgagee for the value of Lessor’s
diminished fee interest in the property upon which the Premises are situated. 
 (c) Termination: Notwithstanding the foregoing, if more than
Thirty Percent (30%) of the floor area of the building in which the Premises are located shall be taken as aforesaid, Lessor may, by written notice to Lessee, terminate this Lease, such termination to be effective as aforesaid. 
 (d) Rent on Termination: If this Lease is terminated as provided in this section, the rent shall be paid up to date that possession is so taken by public
authority and Lessor shall make an equitable refund of any rent paid by Lessee in advance. 
  

 (e) Award: Lessee shall not be entitled to and expressly waives all claim to any condemnation award for
any taking, whether whole or partial, and whether for diminution in value of the leasehold or to the fee although Lessee shall have the right, to the extent that the same shall not reduce Lessor’s award, to claim from the condemnor, but not
from Lessor, such compensation as may be recoverable by Lessee in its own right for damage to Lessee’s business, fixtures and improvements installed by Lessee at its expense and for any moving expense. 
 MISCELLANEOUS 
 38. (a) Each provision of this lease
shall extend to and shall bind and inure to the benefit not only of Lessor and Lessee, but also their respective heirs, legal representatives, successors and assigns, but this provision shall not operate to permit any transfer, assignment, mortgage,
encumbrance, lien, charge or subletting contrary to the provisions of this Lease. 
 (b) All of the agreements of Lessor and Lessee with
respect to the Premises are contained in this lease; and no modification, waiver or amendment of this lease or of any of its conditions or provisions shall be binding upon Lessor unless in writing signed by Lessor. 
 (c) Submission of this instrument for examination shall not constitute a reservation of or option for the Premises or in any manner bind Lessor, and no
license or obligation of Lessor shall arise until this instrument is signed and delivered by Lessor and Lessee; provided, however, the execution and delivery by Lessee of this lease to Lessor or the agent of Lessor, or Lessor’s beneficiary,
shall constitute an offer by Lessee to lease the Premises on the terms and conditions herein contained. 
 (d) The words “Lessee”
and “Lessor” whenever used herein shall be construed to mean Lessee Lessor, respectively, or any one or more of them in all cases where there is more than one Lessee or Lessor; and the necessary grammatical changes required to make all the
provisions hereof apply either to corporations or other organizations, partnerships or other entities, or individuals, shall in all cases be assumed as though in each case fully expressed. In all cases where there is more than one Lessee or Lessor,
the liability of each Lessee or Lessor, respectively shall be joint and several. 
 (e) Time is of the essence of this lease and of each and
every provision thereof. 
 (f) The invalidity of any provision of this lease shall not impair nor affect in any manner the validity,
enforceability or effect of the remaining provisions of this lease. 
 (g) If Lessor fails to perform timely any of the terms, covenants and
conditions of this lease on Lessor’s part to be performed, and such failure is due in whole or in part to any strike, lockout, labor trouble, civil disorder, inability to procure materials, failure of power, restrictive governmental laws and
regulations, riots, insurrections, war, fuel shortages, accidents, casualties, acts of God, acts caused directly or indirectly by Lessee, or any other cause beyond the reasonable control of Lessor, then Lessor shall not be deemed in default under
this lease as a result of such failure. 
 (h) [Deleted] 
 (i) [Deleted] 
  

 (j) Where in this instrument masculine pronouns are used, or words indicating the singular number appear,
such words shall be considered as if feminine or neuter pronouns or words indicating the plural number had been used, where the context indicates the propriety of such use. 
 (k) Where in this instrument rights are given to either Lessor or Lessee, such rights shall extend to the agents, employees, or representatives of such
persons. 
 (l) If this instrument is executed by a corporation, such execution has been authorized by a duly adopted resolution of the Board
of Directors of such corporation. 
 IN TESTIMONY WHEREOF, the parties hereto have executed this instrument this 18th day of July, 2007.

  

									
	                    LESSEE	 		 	LESSOR
			
	RUBICON TECHNOLOGY, INC.	 		 	
			
		 		 	 /s/ Phillip J. Latoria, Jr.

		 		 	Phillip J. Latoria, Jr.
					
	By:	 	/s/ Raja M. Parvez	 		 		 	
					
		 		 		 		 	
					
	Title:	 	President	 		 		 	

 Exhibit A 
 Legal Description: 
 That part of Lots 1, 2, 12, and 13 as taken as a Tract in Green Avenue Acres, a subdivision in Sections 13 and
24, Township 40 North, Range 11 East of the Third Principal Meridian, which lies West of a line 213.9 feet West of and parallel with the East line of said Lot 12 and which lies North of a line drawn perpendicularly to the East line of said tract
through a point on said East line 224.90 feet South of the Northeast corner thereof, in DuPage County, Illinois. 
 Lender is: 
 The Private Bank 
 1100 Jorie Blvd.

 Oak Brook, IL 60521 
 Lessor
shall provide the following improvements (all pursuant to drawings and plans and specifications reasonably acceptable to Lessor and Lessee) which Lessor shall complete on or before July 31, 2007, unless completion is delayed by the work to be
performed by Lessee: 
  

			
	 Building Size:
	  	30,500 sq ft.
	 Parking:
	  	(60) Spaces
	 Truck Docks:
	  	(2) Interior
	 D.I.D:
	  	(1) 12’ x 14’
	 Sprinkler:
	  	ESFR
	 Height:
	  	24’ Clear Warehouse
	 Height:
	  	9’ Clear Offices
	 *1st Floor Offices:
	  	4,000 sq ft. complete
	 *2nd Floor Offices:
	  	6,000 sq ft. perimeter build-out.

	*1st	Floor Restrooms: 2 stall men’s room and 2 stall women’s room (the location shall be changed to the Lessee’s preferred location in warehouse).

	*2nd	Floor Restrooms: 2 stall men’s room and 2 stall women’s roomCustom Manufacturing and Supply Agreement

 EXHIBIT 10.1 
 CONFIDENTIAL TREATMENT REQUESTED 
 AS FILED 
 CUSTOM MANUFACTURING AND SUPPLY AGREEMENT 
 This Custom Manufacturing and Supply Agreement (this “Agreement”) is made by and between VERMED, INC., a Delaware corporation (“Vermed”), and CARDIODYNAMICS INTERNATIONAL CORPORATION, a California
corporation (“CardioDynamics”). 
 Background 
 1. CardioDynamics owns and has developed certain proprietary impedance cardiography technology (the “ICG Technology”) used in the design of products which non-invasively measure the hemodynamics of a
patient’s cardiovascular system. 
 2. CardioDynamics desires to engage Vermed to manufacture, on CardioDynamics’ behalf, certain
impedance cardiography sensors, including BZ-4550-50 sensors (collectively, the “BZ-4550-50 Sensors”), BZ-1550-50 sensors (collectively, the “BZ-1550-50 Sensors”), Medis N-1201 sensors (collectively, the “Medis N-1201
Sensors”) and Medis N-1202 sensors (collectively, the “Medis N-1202 Sensors;” the BZ-4550-50 Sensors, BZ-1550-50 Sensors, Medis N-1201 Sensors and Medis N-1202 Sensors and any ICG sensors developed after the date hereof are
hereinafter sometimes referred to collectively as the “Products”) using certain of the ICG Technology, and Vermed is willing to do so, all on the terms and conditions hereinafter set forth. 
 NOW, THEREFORE, it is mutually agreed by and between the parties as follows: 
 Section 1. Term. Unless sooner terminated in accordance with Section 16, the term of this Agreement shall begin on the date hereof
and continue for a period of five years thereafter. 
 Section 2. Grant of License. Subject to the terms of this
Agreement, CardioDynamics grants to Vermed the non-exclusive right and license to use CardioDynamics’ product specifications, designs and related ICG Technology during the term of this Agreement to manufacture the Products at Vermed’s
manufacturing facility in Bellows Falls, Vermont (the “Facility”) solely for sale to CardioDynamics. To the extent the parties jointly develop or make any Improvements (as defined below) to: (i) the ICG sensors, such Improvements
shall remain the sole and exclusive property of CardioDynamics, or (ii) the manufacturing processes or gels, such Improvements shall remain the sole and exclusive property of Vermed. As used herein, “Improvements” means processes,
designs, technical information and know-how, whether or not patented or patentable, including engineering, scientific and practical information and formulae, manufacturing data and procedures, machinery and equipment designs, technical information
recorded on drawings and in specifications, operating manuals and other writings, as applicable. 
 Section 3. Manufacturing
Procedures and Production Standards. Vermed will: 
  

	 	(a)	Purchase and maintain adequate supplies of all the raw materials for the manufacture and packaging of the Products. 

  

	 	(b)	Provide all management, labor, facilities and equipment used or needed for manufacturing the Products. 

 CONFIDENTIAL TREATMENT REQUESTED 
 AS FILED 
  

	 	(c)	Store (i) all the materials for the manufacture and packaging of the Products prior to their use, and (ii) all finished Products prior to their shipment.

  

	 	(d)	Manufacture the Products in compliance with all applicable local, state and federal laws and regulations, including 21 C.F.R. Part 820 and the “Minimum Purchased Material
Quality Requirements” attached as Exhibit “A” hereto, as they may be amended from time to time by CardioDynamics. 

  

	 	(e)	Manufacture the Products strictly in conformity with this Agreement and the product specifications provided by CardioDynamics and otherwise in a professional manner consistent with
the standard of skill and care exercised by manufacturers within Vermed’s industry. 

  

	 	(f)	Label Products only with label copy supplied by CardioDynamics. Artwork changes and costs will be invoiced when incurred. CardioDynamics is responsible for any inventory made
obsolete by such changes. 

  

	 	(g)	Make no changes or alterations in the product specifications without specific written approval by CardioDynamics. 

 Section 4. Forecasts. Not less than thirty (30) days prior to the first date of each fiscal quarter, CardioDynamics will provide
Vermed with an estimate of the quantity and type of Products it requires during the next two succeeding calendar quarters (each, a “Forecast”). In addition, CardioDynamics and Vermed will work on a running 3-month “planning
window.” 
 Section 5. Purchase Orders; Shipments: Title; Risk of Loss. 
  

	 	(a)	CardioDynamics will submit a blanket purchase order for a six-month period with scheduled monthly releases in accordance with purchase order procedures established by Vermed. Vermed
will maintain one month of finished product safety stock or one-sixth of the requirements for the current six-month blanket purchase order. 

  

	 	(b)	As to each such order, so long as it is in accordance with the terms of this Agreement and does not depart materially from the order quantity and order schedule contained in the
applicable Forecast, Vermed will accept it and manufacture and ship the amount of Products specified in the purchase order. 

  

	 	(c)	Title to and risk of loss of the Products shall pass to CardioDynamics at date of inventory transfer. Product on any cancelled blanket order will remain the obligation of
CardioDynamics. Any delayed deliveries beyond 90 days past the original shipping date will be treated as an order cancelled by CardioDynamics. 

  

	 	(d)	Vermed will provide a drop-shipment service to CardioDynamics’ customers. CardioDynamics will provide and maintain dedicated computer data terminals at Vermed to enable
real-time shipping information to CardioDynamics’ customers. Shipments will be insured by CardioDynamics. 

  

 - 2 - 

 CONFIDENTIAL TREATMENT REQUESTED 
 AS FILED 
  

	 	(e)	CardioDynamics must notify Vermed of any discrepancies in the order, non-conforming Products, loss or defects within thirty (30) days of the date of receipt or Products will be
deemed irrevocably accepted by CardioDynamics. 

  

	 	(f)	All returns of Products to Vermed by CardioDynamics’ customers for reasons other than non-conforming Products, loss or defects will be re-processed and returned to stock. A
handling and re-packing fee of $5.00 per case for any such returns will be invoiced to CardioDynamics on a monthly basis. 

 Section 6. Prices; Payment Terms. 
  

	 	(a)	All prices are F.O.B. Bellows Falls, VT. CardioDynamics shall pay Vermed: 

  

	 	(i)	For BZ-4550-50 Sensors, $[CONFIDENTIAL TREATMENT REQUESTED]; 

  

	 	(ii)	For BZ-1550-50 Sensors, $[CONFIDENTIAL TREATMENT REQUESTED]; 

  

	 	(iii)	For Medis N-1201 Sensors, $[CONFIDENTIAL TREATMENT REQUESTED]; 

  

	 	(iv)	For Medis N-1202 Sensors, $[CONFIDENTIAL TREATMENT REQUESTED]; plus 

  

	 	(v)	[CONFIDENTIAL TREATMENT REQUESTED]. 

  

	 	(b)	CardioDynamics and Vermed shall periodically review prices and make mutually agreed-upon appropriate adjustments for commodity price, product design, and volume changes.

  

	 	(c)	To facilitate the shipment of Products, CardioDynamics shall provide Vermed with CardioDynamics’ customer account information with certain common carriers and Vermed will use
such carriers to ship Products. Vermed acknowledges that this information is confidential and agrees not to (i) use this information following expiration or termination of this Agreement or (ii) disclose this information to any other
individual or entity without the express written permission of CardioDynamics for the term of this Agreement plus three (3) years. 

  

	 	(d)	Vermed shall invoice CardioDynamics for all Products as needed to meet CardioDynamics shipping schedule as provided by CardioDynamics computer data. The invoice will include the
date, quantity, item number, and lot numbers of the Products shipped. 

  

	 	(e)	 Payment will be due and payable to Vermed by CardioDynamics within 30 days of the date of the invoice. All payments received by Vermed from CardioDynamics will be
first applied to any unpaid interest charges and then chronologically applied to the oldest invoice. Any invoice not paid when due shall have added to the unpaid balance thereof, on a monthly basis, interest at one percent per month (1.0%). If for
any reason interest is in excess of the highest legal contract rate, such excess shall constitute and be treated as a 

  

 - 3 - 

 CONFIDENTIAL TREATMENT REQUESTED 
 AS FILED 
  

	 	 
payment on the principal and shall operate to reduce such principal by the excess amount paid. No payment by CardioDynamics or receipt by Vermed of a lesser
amount than the full sum due shall be deemed to be other than a payment on account of the earliest amount due, nor shall any endorsement or statement on or accompanying any check or payment be deemed an accord and satisfaction, and Vermed may accept
and process such check or payment without prejudice to its rights. 

  

	 	(f)	CardioDynamics agrees to pay all costs of collection, including attorney’s fees and expenses, incurred by Vermed for the collection of any amounts due Vermed by CardioDynamics,
at trial and any appellate level. The right to such attorney’s fees and expenses shall be deemed to have accrued from the commencement of any such activities and shall be enforceable whether or not such action is filed or prosecuted to
judgment. 

 Section 7. Inspections. CardioDynamics may, upon three (3) business days’ notice to
Vermed, inspect manufacturing practices and quality assurance procedures at the Facility during normal operating hours. CardioDynamics’ quality audit experts and/or a laboratory selected by CardioDynamics may, at CardioDynamics’ cost and
expense, monitor the quality of the finished Products, the ingredients and other materials used in the manufacture of the Products, and the production and packaging thereof. Vermed shall be responsible for all expenses relating to a formal
corrective action (as described in the “Minimum Purchased Material quality Requirement” attached). 
 Section 8.
Insurance. Vermed, at its expense, will carry and maintain (i) a $5,000,000 limit commercial general liability policy, including products liability coverage, and (ii) workers’ compensation in accordance with statutory
requirements. Vermed’s commercial general liability coverage shall be expressly endorsed to name CardioDynamics as an additional insured with respect to claims arising out of or relating to the manufacture of Products hereunder. On request,
Vermed shall provide to CardioDynamics a certificate of insurance verifying compliance with this provision to confirm that insurance remains in place during the term of this Agreement. The certificate of insurance must provide for 30 days’
prior written notice to CardioDynamics of any change or termination thereof. 
 Section 9. Limited Warranty; Limitation on
Damages. VERMED WARRANTS THAT THE PRODUCTS WHICH ARE THE SUBJECT OF THIS AGREEMENT (1) WILL CONFORM TO CARDIODYNAMICS’ PRODUCT SPECIFICATIONS AND (2) WILL BE IN GOOD AND USEABLE CONDITION AND CONVEYED WITH GOOD TITLE, FREE
FROM ANY LAWFUL SECURITY INTEREST, LIEN OR ENCUMBRANCE, AT THE TIME OF DELIVERY TO THE CARRIER. OTHER THAN AS EXPRESSLY STATED HEREIN, VERMED MAKES NO OTHER WARRANTIES, EXPRESS OR IMPLIED, REGARDING THE PRODUCTS AND/OR SERVICES PROVIDED HEREUNDER,
AND EXPRESSLY DISCLAIMS THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. Vermed’s liability hereunder on account of any defective Products will be limited to the replacement thereof or actual damages incurred to
the extent attributable to Vermed’s conduct, including the conduct of Vermed’s employees or agents, and/or to the extent attributable to Vermed’s breach hereunder. In no event will either party be liable to the other for any lost
profits, incidental, special, consequential, punitive or exemplary damages. 
 Section 10. Facility Damage. Vermed shall
notify CardioDynamics as soon as practicable in the event the Facility is damaged or destroyed to the extent Vermed’s ability to supply and sell the Products to CardioDynamics ceases or is substantially 

  

 - 4 - 

 CONFIDENTIAL TREATMENT REQUESTED 
 AS FILED 
  

 
curtailed. In the event the Facility is damaged or destroyed to the extent Vermed’s manufacture of Products for CardioDynamics ceases or is
substantially curtailed for a period of more than sixty (60) consecutive days, either party hereto shall have the option of immediately terminating this Agreement by written notice to the other party, unless within ten (10) days of such
damage or destruction, Vermed provides CardioDynamics written assurance Vermed will immediately begin and promptly complete necessary repairs or reconstruction which will restore the Facility within ninety (90) days from the date of such
written assurance, to an operating capacity that will permit the resumption of manufacture of Products. If the Facility is not restored in accordance with the preceding sentence within ninety (90) days from the date of such written assurance,
either party may immediately terminate this Agreement upon written notice to the other party hereto. 
 Section 11. Confidential
Information. 
  

	 	(a)	Except in accordance with the performance of its obligations hereunder, Vermed shall not use or disclose the ICG Technology or confidential information of CardioDynamics (the
“CardioDynamics Confidential Information”) to others, without the express written permission of CardioDynamics, except that Vermed shall not be prevented from using or disclosing any such CardioDynamics Confidential Information which:
(i) subsequent to the date hereof, through no act or failure to act on the part of the Vermed, becomes generally known or available; (ii) is already known by Vermed through lawful means at the time of receiving such CardioDynamics
Confidential Information (it being understood that CardioDynamics Confidential Information received while Vermed was a subsidiary of CardioDynamics is excluded from the foregoing); (iii) is furnished to others by CardioDynamics without
restriction; (iv) is hereafter furnished to Vermed by a third party who is lawfully entitled to receive and transfer the CardioDynamics Confidential Information; (v) is independently developed by Vermed; (vi) is purposefully made
public by CardioDynamics, either through commercial use or sale by printed publication; (vii) is in the opinion of Vermed’s counsel required to be produced pursuant to court order or government action, provided that before it discloses any
CardioDynamics Confidential Information in such circumstances, Vermed shall (to the extent permitted by law) promptly inform CardioDynamics of the full circumstances and the information required to be disclosed, so that CardioDynamics can seek any
appropriate remedy to prevent such disclosure having to be made, and consult with CardioDynamics as to possible steps to avoid or limit disclosure, and as to the content of any such required disclosure, and take such of those steps as CardioDynamics
may reasonably require. 

  

	 	(b)	 Except in accordance with the performance of its obligations hereunder, CardioDynamics shall not use or disclose confidential information of Vermed (the
“Vermed Confidential Information”) to others, without the express written permission of Vermed, except that CardioDynamics shall not be prevented from using or disclosing any such Vermed Confidential Information which: (i) subsequent
to the date hereof, through no act or failure to act on the part of the CardioDynamics, becomes generally known or available; (ii) is already known by CardioDynamics through lawful means at the time of receiving such Vermed Confidential
Information (it being understood that Vermed Confidential Information received while Vermed was a subsidiary of CardioDynamics is excluded from the foregoing); (iii) is furnished to others by Vermed without restriction; (iv) is hereafter
furnished to CardioDynamics by a third party who is lawfully entitled to receive and transfer the Vermed Confidential Information; (v) is independently developed by CardioDynamics; (vi) is purposefully made public by Vermed, either through
commercial use or sale by printed publication; (vii) is in the opinion of CardioDynamics’ counsel required to be produced pursuant to court order or government action, provided that 

  

 - 5 - 

 CONFIDENTIAL TREATMENT REQUESTED 
 AS FILED 
  

	 	 
before it discloses any Vermed Confidential Information in such circumstances, CardioDynamics shall (to the extent permitted by law) promptly inform Vermed
of the full circumstances and the information required to be disclosed, so that Vermed can seek any appropriate remedy to prevent such disclosure having to be made, and consult with Vermed as to possible steps to avoid or limit disclosure, and as to
the content of any such required disclosure, and take such of those steps as Vermed may reasonably require. 

  

	 	(c)	All CardioDynamics Confidential Information and Vermed Confidential Information that is to be treated as confidential pursuant to this Agreement shall be disclosed in writing and
marked “Confidential” or “Proprietary.” Any proprietary disclosure, if made orally, shall be promptly confirmed in writing within thirty (30) days from the date of disclosure and identified as “Confidential” or
“Proprietary” information if such party desires to keep such information proprietary and confidential under this Agreement. 

  

	 	(d)	Vermed shall maintain at least the same degree of diligence in the protection of CardioDynamics Confidential Information received under this Agreement as it does with regard to its
own proprietary information of a similar nature. CardioDynamics shall maintain at least the same degree of diligence in the protection of Vermed Confidential Information received under this Agreement as it does with regard to its own proprietary
information of a similar nature 

  

	 	(e)	The rights, duties, and obligations with respect to CardioDynamics Confidential Information and Vermed Confidential Information created herein shall survive the expiration or
termination of this Agreement indefinitely. 

  

	 	(f)	Any custom tooling used by Vermed and purchased by CardioDynamics for the manufacture of Products will be returned to CardioDynamics at the expiration or termination of this
Agreement (it being understood and acknowledged by the parties that “custom tooling” is not intended to refer to the ICG automated assembly equipment but rather any custom tooling such as “snap tooling” and the like).

 Section 12. Force Majeure. Except in the event of Facility damage within the meaning of Section 10,
if the performance by either party of any obligation is prevented by force majeure or any cause beyond the reasonable control of such party, that party shall notify the other in writing of the occurrence of that event, the date it occurred and the
effects of that event on its ability to perform its obligations under this Agreement. Each party hereto shall be excused from performance of any obligation hereunder while and during such time as performance of such obligation is prevented by force
majeure or any cause beyond the reasonable control of such party, including strikes and lockouts, labor troubles, inability to procure materials, failure of power and utilities, restrictive governmental laws or regulations, riots, insurrection, war
or other reason beyond its control (including the act, failure to act or default of the other party); provided, however, that such provision shall not apply to any payment obligations arising prior to the force majeure event hereunder which shall
remain in full force and effect notwithstanding an event of force majeure. In the event such force majeure event continues for a period of more than thirty (30) consecutive days, or intermittently occurs for thirty (30) days in any rolling
ninety (90) day period after the commencement of the event, either party hereto shall have the option of immediately terminating this Agreement by written notice to the other party. 
 Section 13. Indemnification. 
  

 - 6 - 

 CONFIDENTIAL TREATMENT REQUESTED 
 AS FILED 
  

	 	(a)	Vermed shall indemnify, hold harmless and defend CardioDynamics from and against any and all loss, damages, injuries, liabilities, demands and obligations (including legal fees and
expenses) on account of the death of any person or for loss or damage to property suffered by third-parties arising from or relating to Vermed’s negligence or failure to manufacture the Products in accordance with CardioDynamics’ product
specifications; provided, however, that Vermed shall have no duty to indemnify CardioDynamics to the extent any such loss, damage, injury, etc., is directly caused by the negligence or intentional act or omission of CardioDynamics. Vermed shall also
indemnify, hold harmless and defend CardioDynamics from and against any and all claims, losses, liabilities, demands and obligations (including legal fees and expenses) that CardioDynamics may suffer, or incur arising from or relating to any breach
or violation by Vermed of any of its obligations in this Agreement. Vermed shall have the full right to defend, settle, compromise, pursue or contest any proceedings as to which it shall be obligated to indemnify CardioDynamics as provided herein,
employing counsel selected by Vermed and reasonably satisfactory to CardioDynamics, but Vermed shall have no authority to agree to any settlement or other resolution that imposes any financial cost on CardioDynamics or that is materially adverse to
its interests. As a condition to CardioDynamics’ right of indemnification, CardioDynamics shall be obligated to cooperate reasonably with Vermed in any such proceedings, and to give Vermed prompt notice of any claim as to which a right of
indemnification may exist or be asserted. 

  

	 	(b)	CardioDynamics will defend, indemnify and hold Vermed, its directors, officers, employees and agents, harmless from and against all costs, claims, damages, fines, fees and expenses
of every kind and description, that may result from or arise out of Vermed’s compliance with CardioDynamics’ product specifications provided by CardioDynamics, including liability or property damage claims or suits (including damage to
property of CardioDynamics); provided, however, that CardioDynamics shall have no duty to indemnify Vermed to the extent any such loss, damage, injury, etc., is directly caused by the negligence or intentional act or omission of Vermed.
CardioDynamics shall also indemnify, hold harmless and defend Vermed from and against any and all claims, losses, liabilities, demands and obligations (including legal fees and expenses) that Vermed may suffer, or incur arising from or relating to
any breach or violation by CardioDynamics of any of its obligations in this Agreement. CardioDynamics shall have the full right to defend, settle, compromise, pursue or contest any proceedings as to which it shall be obligated to indemnify Vermed as
provided herein, employing counsel selected by CardioDynamics and reasonably satisfactory to Vermed, but CardioDynamics shall have no authority to agree to any settlement or other resolution that imposes any financial cost on Vermed or that is
materially adverse to its interests. As a condition to Vermed’s right of indemnification, Vermed shall be obligated to cooperate reasonably with CardioDynamics in any such proceedings, and to give CardioDynamics prompt notice of any claim as to
which a right of indemnification may exist or be asserted. 

 Section 14. Relationship of Parties. Nothing
in this Agreement shall be construed to place the parties in the relationship of partners or joint venturers, or of agency or employment, and, except to the extent, if at all, otherwise expressly provided herein, no party shall have the power to
obligate or bind any other party in any manner whatsoever. 
 Section 15. Taxes. Vermed shall be responsible for the
payment of property taxes levied on all manufacturing materials and ingredients which it owns which are in its possession; provided, however, 

  

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 CONFIDENTIAL TREATMENT REQUESTED 
 AS FILED 
  

 
that CardioDynamics shall be solely responsible for the payment of any sales taxes due on finished Products delivered in accordance with Section 5.

 Section 16. Termination. Either party may terminate this Agreement immediately upon: 
  

	 	(a)	the entry of an Order for Relief naming the other party as a debtor under Title 11 of the U.S. Code or upon the entry of a decree or order by a court having competent jurisdiction
in respect to any petition filed or action respecting a party directly involved in a reorganization, arrangement, creditors composition, readjustment, liquidation, dissolution, bankruptcy, or similar relief under any other present or future statute,
law or regulation, whether or not resulting in the appointment of a receiver, liquidator, assignee, trustee, custodian or other similar official, any such decree or order is in effect for a period of forty-five (45) consecutive days;

  

	 	(b)	the making by the other party of an assignment for the benefit of creditors, or the admission by such party in writing of its inability to pay its debts generally as they become
due, or the taking of action by a party in furtherance of any such action; 

  

	 	(c)	the entry of an order of any governmental agency, court or administrative body requiring termination of this Agreement; or 

  

	 	(d)	the default by a party in the performance or compliance with any of the agreements, terms, covenants or conditions in this Agreement for a period of thirty (30) days after
notice from the non-defaulting party to the other specifying the items in default, or in the case of a default of which cannot with commercially reasonable due diligence be cured within said thirty (30) day period, if the defaulting party fails
to commence within said thirty (30) day period the steps necessary to cure the same or thereafter to prosecute the curing of such default with commercially reasonable due diligence (it being understood that the time within which to cure shall
be extended for such period as may be necessary to complete the same with all due diligence). 

 Upon the termination of this Agreement, Vermed
will fill outstanding purchase orders submitted by CardioDynamics prior to termination, but may ship such Products C.O.D. unless CardioDynamics has provided other assurance of payment to Vermed that is acceptable to Vermed in its sole discretion.
Upon the termination of this Agreement, CardioDynamics shall also pay Vermed and be responsible for any and all unique materials associated with the current cancelled blanket order and finished product up to the safety stock quantity at the time of
termination. No such termination shall relieve either party from the duty to perform all duties and obligations that accrued prior to the effective date of termination. 
 Section 17. Notices. All notices, requests, demands, claims and other communications hereunder shall be in writing, addressed to the intended recipient as set forth below, and shall be deemed duly
given: (i) when delivered personally to the recipient; (ii) one (1) business day after being sent to the recipient by reputable overnight courier service (charges prepaid); (iii) one (1) business day after being sent to the
recipient by facsimile transmission or electronic mail; or (iv) four (4) business days after being mailed to the recipient by certified or registered mail, return receipt requested and postage prepaid. 
  

			
	 If to Buyer:
	  	Michael K. Perry
		  	CardioDynamics International Corporation
		  	6175 Nancy Ridge Drive, Suite 300

  

 - 8 - 

 CONFIDENTIAL TREATMENT REQUESTED 
 AS FILED 
  

			
		  	San Diego, California 92121
		  	Facsimile: (858) 535-0055
		
	 with a copy (not
	  	
	 constituting notice) to:
	  	David R. Snyder, Esq.
		  	Pillsbury Winthrop Shaw Pittman LLP
		  	501 W. Broadway, Suite 1100
		  	San Diego, California 92101
		  	Facsimile: (619) 236-1995
		
	 If to Seller:
	  	Vermed, Inc.
		  	Attn.: Rich Kalich
		  	9 Lovell Drive
		  	Bellows Falls, Vermont 05101-1556
		  	Facsimile: (802) 463-9318
		
	 with a copy (not
	  	
	 constituting notice) to:
	  	Stephen P. Magowan, Esq.
		  	Gravel and Shea
		  	P. O. Box 369
		  	76 St. Paul Street, 7th Floor
		  	Burlington, Vermont 05402-0369
		  	Facsimile: (802) 658-1456

 Either party may change the address to which notices, requests, demands, claims and other communications hereunder
are to be delivered by giving the other party notice in the manner herein set forth. 
 Section 18. Binding Effect,
Assignment. This Agreement shall be binding upon and inure to the benefit of CardioDynamics and Vermed and their respective successors and permitted assigns; provided, however, that neither party shall have the right to assign all or any
portion of its rights nor delegate all or any portion of its duties hereunder (in each case by operation of law or otherwise) without the prior written consent of the other. 
 Section 19. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Vermont.

 Section 20. Survival of Terms. The rights and obligations of the parties under Sections 2, 6, 9, 11, 13 and 14
through25 shall survive any termination or expiration of this Agreement. 
 Section 21. Costs of Suit and Enforcement. If
either party resorts to suit or other legal proceedings to enforce any right or remedy hereunder, the non-prevailing party agrees to pay the prevailing party’s costs of suit and enforcement, including reasonable attorneys’ fees and
expenses. 
 Section 22. Forum Selection; Venue. All questions or controversies arising out of or in any way relating to
this Agreement or any other aspect of the commercial relationships between Vermed and CardioDynamics shall be submitted to the United States District Court for the District of Vermont or, in the event that District Court is without subject matter
jurisdiction, to the courts of the State of Vermont having subject matter jurisdiction, and the parties submit themselves to the personal jurisdiction of such 

  

 - 9 - 

 CONFIDENTIAL TREATMENT REQUESTED 
 AS FILED 
  

 
District Court or Vermont State Court, as the case may be, and any service of a summons, process or other paper in connection with such proceedings may be
made by giving notice as provided in this Agreement. Nothing herein contained shall be construed as intended to preclude or in any way prohibit Vermed from instituting and otherwise prosecuting to judgment a lawsuit in any court of competent
jurisdiction to effect the collection of any sums due it or to enforce any right or remedy arising hereunder or otherwise. 
 Section 23. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument. 
 Section 24. Captions; Headings. The captions and section numbers appearing in this Agreement are inserted only as a matter of
convenience. They do not define, limit, construe or describe the scope or intent of such sections, nor in any way affect this Agreement or have any substantive effect. The word “including” shall mean “including without
limitation.” 
 Section 25. Entire Agreement; Amendment, Waiver. This Agreement, together with the exhibits and
schedules, embodies the entire agreement and understanding between the parties relating to the subject matter hereof and there are no covenants, promises, agreements, conditions or understandings, oral or written, except as herein set forth. Neither
this Agreement nor any of the exhibits or schedules hereto may be amended, waived or discharged except by an instrument in writing executed by both of the parties. A waiver by either party of a breach of any provision of this Agreement shall not
operate or be construed as a waiver of any subsequent breach by either party. 
 [SIGNATURE PAGE FOLLOWS] 
  

 - 10 - 

 CONFIDENTIAL TREATMENT REQUESTED 
 AS FILED 
  

 IN WITNESS WHEREOF, the parties have caused
their respective duly authorized agents to executed and deliver this Agreement as of the 31st day of August 2007. 
  

							
	IN PRESENCE OF:	 		 	VERMED, INC.
				
	 /s/ Margaret L. Montgomery
	 		 	By:	 	 /s/ Richard L. Kalich

	Witness	 		 		 	Richard L. Kalich
		 		 		 	President
			
		 		 	CARDIODYNAMICS INTERNATIONAL CORPORATION
				
	 /s/ Patty M. DeGaetano
	 		 	By:	 	 /s/ Michael K. Perry

	Witness	 		 		 	Michael K. Perry
		 		 		 	Chief Executive Officer

  

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 CONFIDENTIAL TREATMENT REQUESTED 
 AS FILED 
  

 Exhibit “A” 
 Vermed Minimum Purchased Material Quality Requirements 
 Vermed shall maintain a documented quality system that
complies with the FDA Quality System Regulation (Code of Federal Regulations 21 C.F.R. Part 820) and the ISO 13485:2003 Standard. CardioDynamics may audit Vermed’s quality system at periodic intervals (typically once every two years) upon
written advance notification. CardioDynamics may also request periodic, joint quality assurance meetings at Vermed’s facility to update the status of product quality and reliability. 
 Upon request from CardioDynamics, Vermed shall provide documented corrective action plans to address audit deficiencies or to prevent product deviations from the
specification. Vermed shall have a total of thirty (30) days from receiving a corrective action request from CardioDynamics to submit formal documentation to address the non-conformance and provide details of the corrective action. 

Where applicable, Vermed shall also maintain compliance to EU directives and their member state transpositions, specifically EU Directive 2002/95/EC (RoHS Directive)
and 2002/96/EC (WEEE Directive) as amended. 
 Changes proposed by Vermed, both material and process changes, which may affect form, fit, function,
reliability, performance or safety must be submitted in writing for CardioDynamics’ approval. This includes, but is not limited to, changes of sources of material and parts, changes in manufacturing processes, test procedures, manufacturing
locations, relocation or replacement of equipment and any similar changes that are anticipated by sub-suppliers. The change must not be implemented without prior written consent from CardioDynamics, which shall not be unreasonably withheld. In
addition, CardioDynamics has the right to request samples for evaluation by CardioDynamics. 
 Vermed shall maintain clear, clean and accurate records of
results of acceptance activities for each Product delivered to CardioDynamics. These records shall include the test/inspection criteria, revision level of documents/equipment/software used, activities performed (planning, routing or traveler
sheets), dates of test/inspection, results and identification of the individual(s) conducting the activities. Where applicable, these records shall include a list of the equipment used for test/inspection. Vermed shall store all records pertaining
to the Product until CardioDynamics notifies Vermed that the product life has ended and/or CardioDynamics requests the records. 
 Vermed shall maintain a
documented reporting system to CardioDynamics when Vermed has knowledge of any product issue related to safety or quality that results in stopping shipment or requires a recall. Any actions taken by Vermed to report a recall to a regulated agency
must be communicated to CardioDynamics immediately (within 24 hours). CardioDynamics has the right to request Vermed to provide all documents regarding the specific issue including the analysis, root cause and corrective action taken to minimize any
risk to CardioDynamics’ customers. 
 Vermed shall ensure that all CardioDynamics documentation is controlled and distributed with the correct revision
level to the appropriate personnel that produce the product for CardioDynamics. Vermed shall also ensure that all CardioDynamics documentation is treated as proprietary and confidential. Vermed 

  

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 CONFIDENTIAL TREATMENT REQUESTED 
 AS FILED 
  

 
shall be responsible for ensuring that all applicable CardioDynamics documentation is provided to all of the Vermed’s sub-suppliers involved in the
supply of product for CardioDynamics. 
  

 - 13 -

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