Document:

Exhibit 10.9

 

 

 

 

 

COMMERCIAL LEASE AGREEMENT

 

 

 

 

 

	 	LANDLORD:          	Ann Arbor Commerce Center, LLC, 
	 	 	a Michigan limited liability company
	 	 	29355 Northwestern Hwy., Suite 301
	 	 	Southfield, Michigan 48034-1045
	 	 	 
	 	 	 
	 	TENANT:          	ZoMedica Pharmaceuticals, Inc. 
	 	 	a Delaware corporation
	 	 	3928 Varsity Drive
	 	 	Ann Arbor, Michigan 48108
	 	 	 
	 	 	 
	 	FOR LEASED PREMISES KNOWN AS:          	3928 Varsity Drive
	 	 	Ann Arbor, Michigan 48108

 

 

 

 

     

     

    

INDEX

 

	PARAGRAPH	PAGE
	 	 
	1.	LEASED PREMISES	1
	2.	TERM	1
	3.	RENT	3
	4.	 JANITORIAL/GARBAGE/RECYCLING	4
	5.	OPERATING EXPENSES	4
	6.	TENANT IMPROVEMENTS	5
	7.	USE	6
	8.	GOVERNMENTAL REQUIREMENTS	6
	9.	DESIGNATION AND MAINTENANCE OF COMMON AREAS	6
	10.	PAYMENT OF TAXES	7
	11.	INSURANCE AND INDEMNIFICATION	8
	12.	DESTRUCTION OF LEASED PREMISES	10
	13.	WAIVER OF SUBROGATION	11
	14.	MAINTENANCE, REPAIRS, REPLACEMENT AND ALTERATIONS	11
	15.	CARE OF LEASED PREMISES	14
	16.	CONDITION OF LEASED PREMISES AT TIME OF LEASE	14
	17.	CONDEMNATION	14
	18.	SECURITY PROVISION	15
	19.	HOLDING OVER	15
	20.	BANKRUPTCY AND INSOLVENCY	15
	21.	ASSIGNMENT AND SUBLETTING	16
	22.	SUBORDINATION, NOTICE TO MORTGAGEE, AND ESTOPPEL CERTIFICATE	17
	23.	UTILITIES	18
	24.	PARKING	18
	25.	EXECUTION AND DELIVERY	19
	26.	ENVIRONMENTAL HAZARDS	19
	27.	ACCESS TO LEASED PREMISES	20
	28.	FORCE MAJEURE	21
	29.	CORPORATE TENANT	21
	30.	TENANT DEFAULT	21
	31.	LIMITED LIABILITY	22
	32.	MISCELLANEOUS CONDITIONS	22
	 	 
	Signature Page	28

 

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COMMERCIAL LEASE AGREEMENT

 

THIS COMMERCIAL LEASE AGREEMENT (“Lease”)
made this 24th day of June, 2015 by and between Ann Arbor Commerce Center, LLC, a Michigan limited liability company,
the Lessor hereinafter designated as the “Landlord” whose address is 29355 Northwestern Hwy., Suite 301, Southfield,
Michigan 48034-1045 and ZoMedica Pharmaceutical, Inc., a Delaware corporation the Lessee hereinafter designated
as the “Tenant” whose address is 3928 Varsity Drive, Ann Arbor, Michigan 48108.

 

WITNESSETH:

 

In consideration of the rents, covenants and conditions
herein set forth, Landlord and Tenant do hereby covenant, promise and agree as follows:

 

1.    LEASED PREMISES.

 

(A)      INITIAL LEASED PREMISES. Landlord leases to Tenant and Tenant leases from Landlord 3928 Varsity Drive, situated in
the City of Ann Arbor, County of Washtenaw, State of Michigan: containing approximately 4,797 rentable
square feet of space (“Leased Premises”), which Leased Premises are located in a multi-tenant complex, commonly known
at this time as Ann Arbor Commerce Center which is zoned M-1, Limited Light Industrial, consisting of a total of approximately
141,335 rentable square feet situated on approximately 9.78 acres of land as legally described on Exhibit “B”
attached hereto hereinafter referred to as the “Complex”, together with a non-exclusive right to use the Common Areas,
hereinafter defined. Exhibit “A” attached hereto shows the approximate configuration of the Leased Premises as of the
date of this Lease.

 

(B)      RIGHT OF FIRST OFFER. Provided Tenant is not otherwise in default under the terms of the Lease and there exists no event
with which the passing of time or the giving of notice would create a default under the Lease, Tenant shall have the First Right
of Offer on any contiguous space should it become available during the term of this Lease. Upon Landlord’s notice to Tenant
of such availability, Tenant shall have forty-eight (48) hours, two (2) regular business days, to accept or reject the space. After
said forty-eight (48) hours, the first right of refusal shall be null and void. In the event Tenant accepts the expansion space,
Landlord and Tenant shall enter into an amendment to this Lease stating that the Term of the Lease shall be extended a minimum
of thirty-six (36) months following the new rent commencement date at a rate no less than the existing rate per square foot with
the same annual increases as provided for under the Lease. Said agreement shall be executed by both parties within thirty (30)
days of Landlord’s receipt of Tenant notice to accept the expansion space or the first right of refusal shall be null and
void.

 

2.    TERM.

 

(A)      INITIAL TERM. The initial term of this Lease will be for a period of thirty-eight (38) months in addition to any
partial month (“Initial Term”) from and after the “Lease Commencement Date”, which shall be deemed to
be July 1, 2015.

 

If Landlord shall be unable for any reason to give possession of
the Leased Premises to Tenant on the Lease Commencement Date, Landlord shall not be subject to any liability for the failure to
deliver possession and the obligation to pay rent (as defined below) shall not commence until the Lease Commencement Date occurs.
Furthermore, no such failure to deliver possession on the Lease Commencement Date shall affect the validity of this Lease or the
obligations of Tenant hereunder.

 

At least three (3) months prior to the expiration date of this Lease,
Tenant shall give written notice to Landlord of Tenant’s intention to surrender the Leased Premises at the normal expiration
of this Lease. If said written notice is not timely given, the Tenant shall become a hold over Tenant on a month-to-month basis
in accordance with Paragraph 19 of this Lease until such time proper notice to terminate is provided to Landlord.

 

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(B)      Tenant’s Option to Extend. Provided Tenant has not and is not otherwise in default under the terms of this Lease and
there exists no event with which the passing of time or the giving of notice would create a default under this Lease, Tenant shall
have one (1) option to extend the term of this Lease for a period of three (3) additional years beyond the Initial Term (the “Option
Term”) commencing upon the expiration of the Initial Term. Landlord must receive written notice of Tenant’s election
to exercise an option to extent the term of this Lease prior to February 1, 2018. The written notice shall be sent to Landlord
by a nationally recognized overnight delivery service or via certified mail, return receipt requested, time being declared of the
essence. In the event Tenant materially defaults hereunder, Tenant’s exercise of its option to extend the term of this Lease
shall, at Landlord’s election, be deemed waived by Tenant and no longer available to Tenant. During the Option Term, all
terms and conditions of this Lease shall remain in full force and effect excepting monthly Rent which shall be as follows:

 

	 	OPTION PERIOD	MONTHLY RENT	 
	 	September 1, 2018 – August 31, 2019	$4,479.00	 
	 	September 1, 2019 – August 31, 2020	$4,614.00	 
	 	September 1, 2020 – August 31, 2021	$4,753.00	 

 

(C)      Tenant’s Early Termination Option. Provided Tenant is not otherwise in default under the terms of this Lease and there
exists no event with which the passing of time or the giving of notice would create a default under this Lease, Tenant shall have
a one (1)-time Option to Terminate this Lease as of the date which is twenty-four (24) months following the Rent Commencement Date
(“Early Termination Date”) provided Tenant gives Landlord irrevocable written notice nine (9) months prior to the Early
Termination Date sent via nationally recognized courier service with proof of receipt or U.S. certified mail, return receipt requested,
time being of the essence. If Tenant elects to terminate this Lease early on Early Termination Date Tenant shall pay to Landlord
an early termination fee equal to repayment of the unamortized free rent provided prior to the Early Termination Date, plus the
unamortized costs of the Tenant Improvement Allowance and defined in Paragraph 6(A) herein below, unamortized real estate commissions
associated with this Lease and one months’ rent (“Termination Fee”) which amount shall be due and payable to
Landlord by Tenant at the time that Tenant gives its termination notice to Landlord. Landlord shall also retain the Security Deposit
plus any damages caused to the Leased Premises if any at which time Tenant vacates. If Tenant timely provides the termination notice
to Landlord required under this Paragraph and timely pays the Termination Fee, then this Lease shall terminate on the “Early
Termination Date” as if it had reached its normal date of expiration. Tenant shall pay all Rent and any Additional Rent charges
(if any) due Landlord as required in this Lease through the Early Termination Date. Tenant shall return the Leased Premises to
Landlord on or before the Early Termination Date in the condition required in this Lease. If proper notice as required by this
Lease is not given or if Tenant fails to pay the Early Termination Fee required by this Lease this Lease shall continue in full
force and effect through the end of the Initial Term of any future extensions thereof. If Tenant provides timely notice of intent
to vacate but then Tenant fails to vacate the Leased Premises on the Early Termination Date, this Lease at Landlord’s discretion
shall continue on i) a month-to-month term in accordance with Paragraph 19 of this Lease or ii) shall continue in full force and
effect through the end of the Initial Term or any future extension thereof. In the event Tenant commits a material breach in its
performance after Tenant’s termination notice is given to Landlord, Tenant’s right to terminate this Lease shall be
null and void. This Termination Option is personal to the named Tenant. If this Lease has been assigned or all a portion of the
Leased Premises have been sublet, this Termination Option shall be deemed null and void and neither Tenant nor any assignee or
subtenant shall have the right to exercise such option during the term of such assignment or sublease. This condition may be waived
by Landlord at its sole discretion and may not be used by Tenant as a means to negate the effectiveness of Tenant’s exercise
of this Termination Option.

 

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3.    RENT.

 

(A)      RENT COMMENCEMENT DATE. The “Rent Commencement Date” shall be September 1, 2015.

 

(B)      RENT PAYMENTS. Starting on the Rent Commencement Date through the Initial Term of this Lease Tenant shall pay to Landlord’s
agent, Ari-El Enterprises, Inc., as “Rent” for the Leased Premises the total sum of One Hundred Fifty-two Thousand
Five Hundred Four and No/100 Dollars ($152,504.00), not including any partial month, payable in United States currency monthly
in advance on the first day of each month in equal consecutive installments as follows:

 

	 	PERIOD	RENT FOR PERIOD	MONTHLY RENT	 
	 	July 1, 2015 – August 31, 2015	FREE RENT PERIOD	 
	 	September 1, 2015 – June 30, 2016	$40,980.00	$4,098.00	 
	 	July 1, 2016 – June 30, 2017	$50,652.00	$4,221.00	 
	 	July 1, 2017 – August 31, 2018	$60,872.00	$4,348.00	 

 

Additional Rent shall commence on the Lease Commencement Date and
Rent payments shall begin on the Rent Commencement Date and shall continue to be made on or before the first day of each and every
month thereafter throughout the Initial Term of this Lease and any extension thereof, without prior demand and without any deduction
or set offs whatsoever. If the Rent Commencement Date shall occur on a date other than the first day of the calendar month, Tenant
shall pay to Landlord on this Lease Commencement Date as Rent for the partial month a sum equal to one-thirtieth (1/30th) of the
regular monthly payment of Rent hereunder times the number of days in the period from and including the Rent Commencement Date
to and including the last day of the month in which the Rent Commencement Date shall occur, which amount is in addition to the
total sum stated herein above.

 

(C)      ADDITIONAL RENT. The term “Additional Rent” as used herein means any sum of money due Landlord, if any, under
the terms and conditions of this Lease other than Rent.

 

(D)      PRELIMINARY RENT. Tenant shall remit the amount of Four Thousand Three Hundred Thirty-eight and No/100 Dollars ($4,338.00)
simultaneously with the execution of this Lease, which amount shall be credited against Rent ($4,098) for September 1, 2015 –
September 30, 2015 and estimated pro rata share of water ($240), as defined in Paragraph 23 herein below, payable by Tenant pursuant
to this Lease for July 1, 2015 – September 30, 2015.

 

(E)      LATE CHARGES. Tenant acknowledges that late payment by Tenant of the Rent and/or any and all other amounts, which may become
due hereunder will cause Landlord to incur costs not contemplated by this Lease, the exact amount of such costs being extremely
difficult and impractical to fix with certainty. Therefor, if any payment or amount due from Tenant is not receive by Landlord
when due as set forth in this Lease, or in the event that a timely payment is made by check is dishonored by Tenant’s bank,
Tenant shall pay Landlord the amount of Two Hundred Fifty and No/ 100 Dollars ($250.00) per occurrence as a service charge for
each and every month of such late payment, plus Tenant shall be responsible to pay any and all of Landlord’s costs of collection,
including but not limited to reasonable attorney fees. A payment shall be deemed to be late if it is not received within seven
(7) days after its due date. Tenant acknowledges and agrees that the late fee represent a fair and reasonable estimate of the
costs that Landlord will incur by reason of Tenant’s late payment. Payment of any such late charge shall not excuse or cure
any default nor prevent Landlord from exercising any of its rights or remedies otherwise available to it under the terms of this
Lease. Further, if Tenant is late in any payment two (2) or more times in any continuous twelve (12) month period, same shall constitute
a default and Landlord shall have the option terminate this Lease and pursue any and all remedies to which Landlord is entitled
under this Lease.

 

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4.    JANITORIAL/GARBAGE/RECYCLING.

 

(A)      CLEANING LEASED PREMISES. Tenant shall be responsible to provide janitorial services within the Leased Premises. Tenant
will keep the Leased Premises in a commercially clean condition.

 

(B)      GARBAGE. Tenant agrees to maintain its own garbage container(s) with a minimum pickup schedule to maintain a clean and orderly
area. All garbage containers shall be kept covered and in a clean and neat manner and shall be kept in such locations as Landlord
may designate.

 

5.    OPERATING EXPENSES.

 

(A)      DEFINITION. “Operating Expenses” are defined as the sum of all costs and expenses incurred by or on behalf of
Landlord during the Initial Term or any extension thereof in operating, owning, managing, insuring, securing and maintaining the
Complex or any part thereof including but not limited to all costs and expenses of: operating, equipping, maintaining, repairing,
replacing, policing, accounting, signage, lighting, electrical, utilities, systems of the Complex; salaries, fringe benefits and
other reasonable compensation, however denominated, of all personnel engaged in operating, servicing and maintaining the Complex
to which shall be added an amount equal to fifteen percent (15%) of all of those costs. Notwithstanding the foregoing, Operating
Expenses shall not, include building depreciation, mortgage interest and principal payments, real estate broker commissions, cost
of tenant renovation work and income taxes. In the event Landlord’s Operating Expenses in any calendar year after the expenses
base year of 2015 (“Expense Base Year”) exceeds the amount of such expenses for the Expense Base Year, Tenant
shall pay to Landlord as Additional Rent, it’s pro rata share (as defined herein below) of such excess costs upon receipt
of notice from Landlord.

 

(B)      TENANT’S CAP ON EXCESS OPERATING EXPENSES. Tenant’s Excess Operating Expenses shall not increase more than five
percent (5%) per year calculated on a cumulative basis (“Annual Capped Operating Expenses”). Annual Capped Expenses
shall not include uncontrollable expenses as defined as follows: “Uncontrollable Expenses” shall mean those expenses
that, in Landlord’s reasonable discretion and judgment, may be subject to increase which are outside the Landlord’s
control which shall include but are not limited to any expenses relating to (i) snow plowing and salting, (ii) insurance, and (iii)
utilities.

 

(C)      TENANT’S RIGHT TO AUDIT LANDLORD’S STATEMENT. Provided Tenant is not in default under this Lease and provided
further that Tenant strictly complies with the provisions of this Paragraph, Tenant shall have the right to reasonably review supporting
data that Tenant claims is incorrect for any portion of Landlord’s statement with respect to such year. In order for Tenant
to exercise right under this Paragraph, Tenant shall, within thirty (30) days after any such Landlord’s statement is sent,
deliver a written notice to Landlord specifying the portions of the Landlord’s statement that are claimed to be incorrect,
and Tenant shall simultaneously pay to Landlord all amounts due from Tenant to Landlord as specified in Landlord’s statement.
Except as expressly set forth below, in no event shall Tenant be entitled to withhold, deduct, or offset any monetary obligation
of Tenant to Landlord under this Lease (including, without limitation, Tenant’s obligation to make all Rent payments and
all payments for its share of estimated and actual Excess Operating Expenses and Real Estate Taxes) pending the completion of and
regardless of the results of any review of records under this Paragraph. The right under this Paragraph may only be exercised once
for any Landlord’s statement, and if Tenant fails to meet any of the above conditions as a prerequisite to the exercise of
such right, the right of Tenant under this Paragraph for a particular Landlord’s statement shall be deemed waived.

 

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Procedures for Review. Tenant shall have to conduct
its review at the offices of Landlord during ordinary business hours. Any review to be conducted under this Paragraph shall be
at the sole cost and expense of Tenant and shall be conducted by an independent firm of certified public accountants of national
standing that is not being compensated by Tenant on a contingency fee basis. Tenant acknowledges and agrees that any records reviewed
under this Paragraph constitute confidential information of Landlord, which shall not be disclosed to anyone other than the accountants
performing the review and the principals of Tenant who receive the results of the review. The disclosure of such information to
any other person, whether or not caused by the conduct of Tenant, shall constitute a material breach of this Lease.

 

Finding of Error. Any errors disclosed by the review
of records under this paragraph shall be promptly corrected, provided Landlord shall have the right to cause another review of
the records to be made by an independent firm of certified public accountants of national standing. In the event of a disagreement
between the two accounting firms, the review that discloses the least amount of deviation from Landlord’s statement shall
be deemed correct. In the event that the results of the review of records (taking into account, if applicable, the results of any
additional review caused by Landlord pursuant to this Section) reveal that Tenant has overpaid by more than five percent (5%) for
a proceeding period, the amount for such overpayment shall be credited against Tenant’s subsequent installment obligations
to pay its share of estimated Common Area Maintenance Expenses. In the event that such results show that the Tenant has underpaid
its obligations for a proceeding period, the amount of such underpayment shall be paid by Tenant to Landlord with the next succeeding
installment obligation of estimated Common Area Maintenance Costs.

 

(D)      PRO RATA SHARE. Tenant’s pro rata share of the Complex at this time is 3.39% (“Pro Rata Share”)
which is equal to the rentable square footage of the Leased Premises (4,797) divided by the approximate square footage of the Complex
(141,335).

 

6.    TENANT IMPROVEMENTS.

 

(A)      TENANT IMPROVEMENTS. Tenant shall take possession of the Leased Premises in its “as-is/where is” condition and
configuration.

 

(B)      IMPROVEMENTS BY TENANT. Tenant shall configure the Leased Premises as generally described as follows:

 

		(a)	Remove one wall and build a conference room and put in additional infrastructure to support the
lab space;
	 	 	 

		(b)	Any changes to lighting, electrical work, voice/data cabling, security cabling, or plumbing work;
	 	 	 

		(c)	Replace carpet and cove base;
	 	 	 

		(d)	Paint the Leased Premises; and
	 	 	 

		(e)	Replace any stained or damaged ceiling tiles and burnt out light bulbs.

 

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Tenant renovation work within the Leased Premises including
improvements, changes, alterations or modifications or repairs to the Leased Premises, save and except those hereinabove
indicated, shall be at Tenant’s sole cost and expense. Any and all improvements made by Tenant or its contractor to the
Leased Premises shall be made in a good workman’s manner and meet all applicable city, state and federal codes and have
prior written approval of Landlord. At Landlord’s request upon expiration of this Lease, and at Tenant’s expense
the Leased Premises shall be restored to its original condition. Exhibit “A” shows the approximate existing
configuration of the Leased Premises at the time of the making of this Lease.

 

Provided Tenant performs the work stated above and provides Landlord
with proof of payment and final lien waivers, Landlord shall reimburse Tenant an amount not to exceed up to Twenty-three Thousand
Nine Hundred Eighty-five and No/100 Dollars ($23,985.00) (“Tenant Improvement Allowance”), which shall be used
to reimburse Tenant for its out of pocket reasonable, actual expenses incurred by Tenant for upgrades made to the Leased Premises
including but not limited to those listed above (“Tenant’s Work”). Landlord hereby consents to Tenant’s
Work, and Tenant’s Work shall be performed in accordance with the terms of Lease. Landlord shall reimburse Tenant for the
actual cost of Tenant’s Work not to exceed the Tenant Improvement Allowance within thirty (30) days after Tenant provides
Landlord with copies of paid invoices and final lien waivers from Tenant’s contractors. All of Tenant’s Work shall
be done on a competitive bid basis.

 

7.    USE. The Leased Premises during the continuance of this Lease shall be used in compliance with Zoning and occupied for
the purpose of general office and lab space for pharmaceutical development for medicine for domestic animals (“Tenant’s
Permitted Use”) and for no other purpose or purposes without the written consent of the Landlord. Tenant will not use the
Leased Premises for any purpose in violation of Tenant’s Permitted Use or in violation of any Law, municipal ordinance or
regulation, nor shall Tenant perform any acts or carry on any practices which may damage the Leased Premises or the Complex or
be a nuisance, disturbance or menace to the other tenants of the Complex, and that on any breach of this provision shall be considered
a default and Landlord may, at its option, terminate this Lease forthwith and re-enter and repossess the Leased Premises. Further,
Tenant shall not use the Common Areas for its business or storage purposes including working on vehicles or overnight storage purposes
of any kind. Tenant shall not store overnight any motor vehicles in the Common Areas other than company vehicles that are clearly
marked as such.

 

8.    GOVERNMENTAL REQUIREMENTS. At all times during the term of this Lease, Tenant shall give prompt written notice to Landlord
of any notice Tenant receives of any violations of any law or requirement of a governmental authority affecting the Leased Premises
or the Complex, and at its sole cost and expense, shall comply with all laws and requirements of governmental authorities including
any violation, order or duty imposed upon Landlord or Tenant, arising or relating to (a) Tenant’s use of the Leased Premises,
(b) the manner or conduct of Tenant’s business or operation of its installations, equipment or other property therein, (c)
any cause or condition created by or at the insistence of Tenant, or (d) breach of any of Tenant’s obligations hereunder.

 

9.    DESIGNATION AND MAINTENANCE OF COMMON AREAS. Whenever used in this Lease Agreement, “Common Area(s)” shall
include areas designated by Landlord for use in common with other tenants and occupants of the Complex and Landlord, Landlord’s
contactors and management agent including but not limited to exterior areas (paved and unpaved), the parking lot and driveway,
access roads, truckways, loading areas, retaining walls, lighting, facilities, courts and ramps, decorative walls, landscaped and
planting areas, other green space, storm drainage and detention system and facilities which may be furnished by Landlord in or
near the Complex, and designated from time to time by Landlord as Common Area, and all other areas which may be provided for and
so designated by Landlord for the general operation and use and convenience in common of Tenant and other tenants of the Complex,
the owners, lessees and occupants, and their respective officers, agents, employees, customers and invitees; provided, that such
use shall be subject to such reasonable rules and regulations as Landlord may establish from time to time, Landlord may temporarily
close any of the Common Areas for maintenance purposes and/or repairs and that Landlord may make changes to the Common Areas including,
without limitation, changes in the location of lighting, signage, driveways, entrances, exits, parking spaces, parking areas or
direction of traffic flow and Landlord, as part of the Operating Expenses, shall maintain the Common Areas in such manner as Landlord,
at Landlord’s sole discretion, reasonably determines necessary.

 

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10.    PAYMENT OF TAXES.

 

(A)      DEFINITION OF TAXES. The term “Real Estate Taxes” shall be all (a) real property taxes and assessments which
become due during the Lease Term or any extension (including installments of special assessments required to be paid during the
Lease Year although levied prior to the Lease Term) and other charges which may be levied, assessed or charged against the Complex;
and (b) all other taxes and other charges imposed by the State in which the Premises are located, or any subdivision thereof which:
(i) are enacted after the date of this Lease or, if previously enacted, are increased in any manner after the date of this Lease
(but only to the extent of such increase); (ii) are a replacement of or in addition to all or any part of ad valorem taxes as sources
of revenue, and (iii) are based in whole or in part upon the Center of which the Premises is a part or any interest therein or
the ownership or operation thereof, or the rents, profits or other income therefrom.

 

(B)      PAYMENT OF TAXES. Landlord shall pay the Real Estate Taxes. If any Real Estate Taxes can be paid in installments, Landlord
reserves the right to pay them in installments. In the event Real Estate Taxes in any year after the real estate tax base year
of 2015, defined as the summer and winter tax bills designated for that year, (“Real Estate Tax Base Year”)
exceeds the amount of such Real Estate Taxes for the Real Estate Tax Base Year, Tenant shall pay Tenant’s Pro Rata Share
of all Real Estate Taxes which are levied against the Property, which are in excess of the Real Estate Tax Base Year upon receipt
of notice from Landlord. Tenant’s pro rata share at this time is 3.39%.

 

Tenant agrees to pay, prior to delinquency, any and all taxes and
assessments of any kind levied or assessed during the term of this Lease hereof upon or against:

 

		(a)	All furniture, fixtures, equipment, and any other personal property in the Leased Premises;
	 	 	 

		(b)	All alterations or improvements of whatsoever kind made by Tenant to the Leased Premises;
	 	 	 

		(c)	The Rents or any other payments payable hereunder by Tenant to Landlord (other than Landlord’s
federal, state and local income taxes thereon), whether the obligation for the payment of such taxes shall be upon Landlord or
Tenant; and
	 	 	 

		(d)	Should any governmental authority require that Taxes, other than the taxes mentioned above attributable
to the Leased Premises, be paid by Tenant, but collected by Landlord, for and on behalf of said governmental authority, and forwarded
by Landlord to said governmental authority, the same shall be paid by Tenant to Landlord, and be collectible by Landlord, and payment
thereof enforced in the same fashion as provided for the enforcement of payment of Rent hereunder; and shall be deemed Additional
Rent payable as billed.

 

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(C)      TAX CONTEST. Landlord shall have the unrestricted right, but not the obligation, to contest the validity or amount of any
Taxes by appropriate proceedings, and if Landlord shall institute any such contest on its own volition, it shall have the unrestricted
right to settle any such contest, proceeding, or action upon whatever terms Landlord may determine. In the event Landlord receives
any refund of such Taxes, Landlord shall be first entitled to reimbursement of its reasonable expenses attributable to obtaining
the refund, and thereafter (and provided Tenant is not then in default of any of the terms of this Lease) Landlord shall credit
such proportion of such refund as shall be pro-rata to payments of Taxes actually made by Tenant (less costs, expenses and attorney’s
fees) against the next succeeding payments of Rent unless such refund is primarily due to vacancy levels or transfer of ownership
in which case Tenant shall not be entitled to any credit. In the event the Real Estate Taxes are reduced to an amount below the
Base Year the Base Year used to calculate Tenant’s Pro Rata Share of Excess Charges for Real Estate Taxes only shall be changed
to reflect the year in which the reduction in Real Estate Taxes is applied to.

 

11.    INSURANCE AND INDEMNIFICATION.

 

(A)      TENANT’S INSURANCE. Tenant shall deliver to Landlord a copy of the insurance binder or Certificate of Liability Insurance
(in ACORD Form 25), or other proof satisfactory to Landlord for each of the insurance policies Tenant is required to carry in compliance
with its obligations under this Lease shall be delivered to Landlord at least ten (10) days prior to the Lease Commencement Date.
Tenant agrees to secure and keep in force from the Lease Commencement Date and throughout the term of this Lease, at Tenant’s
sole expense insurance policies that shall comply with all of the following insurance requirements and the policy will be on Insurance
Services Office, Inc. (ISO) Form CG 00 01 07 98 or an equivalent commercial general liability insurance policy and endorsements
that is satisfactory to Landlord:

 

		(a)	Commercial General Liability Insurance on an occurrence basis with minimum limits of liability
in an amount of One Million Dollars ($1,000,000) per occurrence for property, bodily injury, personal injury or death to any one
person, and Two Million Dollars ($2,000,000) aggregate limit shall apply on a per location basis for property, bodily injury, personal
injury, or death to more than one person, and One Million Dollars ($1,000,000) per occurrence with respect to damage to property,
including water damage and sprinkler leakage;
	 	 	 

		(b)	Causes of Loss – Special Form property and fire insurance, with extended coverage and vandalism
and malicious mischief and other such endorsements in the amount necessary to provide for the full replacement value of all fixtures,
betterments and contents and lease hold improvements made by Tenant or Landlord so that the Leased Premises may be restored to
the condition which existed prior to any casualty loss; and
	 	 	 

		(c)	Workers’ Compensation Insurance to the extent required by the laws of the State of Michigan.
	 	 	 

All Commercial General Liability Insurance to be procured
by Tenant in pursuance of this Lease shall be issued in the names of and for the benefit of Tenant and Landlord naming Landlord,
Ann Arbor Commerce Center, LLC, Landlord’s agent, Ari-El Enterprises, Inc. (or such other management agent
as Landlord directs), and Landlord’s mortgagee, if any, as an additional insured, and its designee(s) and provided on ISO
Form CG 2026 or its equivalent, without modification. All insurance coverage shall be written by one or more responsible insurance
companies licensed or admitted to do business in the state of Michigan and shall have a policyholder rating of at least A+ and
be assigned a financial size category of at least Class X as rated in the most recent edition of “Best’s Key Rating
Guide” or other rating guide acceptable to Landlord for insurance companies.

 

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(B)      Evidence of Insurance. Tenant shall deliver to Landlord a copy of the insurance binder or Evidence of Property Insurance
(in ACORD Form 27), or other proof satisfactory to Landlord for each of the insurance policies Tenant is required to carry in compliance
with its obligations under this Lease shall be delivered to Landlord prior to moving in and fifteen (15) days from each subsequent
anniversary date; and at least ten (10) days prior to the expiration of any such policy, Tenant shall deliver to Landlord certified
copies of any renewal policy, binder or memoranda. IN NO EVENT SHALL TENANT MOVE INTO LEASED PREMISES WITHOUT HAVING PROPER
INSURANCE IN PLACE AS REQUIRED BY THIS LEASE.

 

If Tenant fails to procure, maintain, and/or pay for the insurance
required by this Lease, at the times and duration specified in this Lease, Landlord shall have the right, but not the obligation,
at any time and from time to time, and without notice, to procure such insurance and/or pay the premiums for such insurance, in
which event, Tenant shall repay Landlord, immediately upon demand by Landlord, all sums so paid Landlord together with a fifteen
percent (15%) administrative fee thereon and any costs and expenses incurred by Landlord in connection therewith, without prejudice
to any other rights and remedies of Landlord under this Lease. Tenant’s failure to obtain and maintain the required insurance
shall constitute a breach of, and material default under, this Lease. If Tenant shall fail to remedy such breach within three (3)
business days after notice by Landlord, Tenant will be liable for any and all costs, liabilities, damages, and penalties resulting
to Landlord or Landlord’s agent(s) from such termination, unless a written waive of the specific insurance requirement(s)
is provided to Tenant by Landlord.

 

(C)      Landlord’s Insurance. Landlord covenants that it shall, during the term of this Lease, keep i) Special Form insurance
on the building in which the Leased Premises is located upon a full replacement cost basis (exclusive of footings and foundations),
with no coinsurance requirement and ii) commercial general liability insurance, including contractual liability coverage as available
and subject to the exclusions form coverage under the insurance policy, with limits of not less than $2,000,000 per occurrence
for personal injury and property damage with solvent insurance companies authorized and licensed to issue such policies in the
State of Michigan. In accordance with 7(B), Tenant shall pay Tenant’s Pro Rata Share of all insurance maintained by Landlord
with respect to the Property, which are in excess of those included in the Base Year.

 

(D)      Increased Insurance Premiums. Tenant shall not carry on nor permit in the Leased Premises any trade or occupation, or suffer
to be done anything which may render an increased or extra premium payable for the insurance of the Leased Premises or Property
against fire or other perils included under standard extended coverage insurance, unless Landlord shall consent in writing, and
if such consent is given, Tenant shall pay such increased or extra premium within ten (10) days of Tenant’s receipt of Landlord’s
Notice advising Tenant of the amount thereof.

 

(E)      Indemnity and Hold Harmless. Tenant shall indemnify, defend and hold Landlord, its agent, Ari-El Enterprises, Inc. (or such
other management agent as Landlord directs), and Landlord’s mortgagee, if any, harmless from and against all claims or causes
of action and costs (including attorneys’ fees), expenses and liabilities incurred by or claimed against Landlord, including
any action or proceeding brought thereon, arising from or as a result of (a) any accident, injury, death, loss, water damage or
smoke damage whatsoever to any person or to the property of any person, including the person and property of Tenant, its employees
and agents and all persons in or at the Leased Premises or Property at its or their invitation or with their consent, as shall
occur on or about the Leased Premises or Property during the term of this Lease, (b) the occupancy or use by Tenant of the Leased
Premises or the Property, or (c) any act or omission whatsoever of Tenant or any subtenant, licensee or departmental lessee of
Tenant or its agents, contractors, servants, employees, invitees or customers. Tenant shall not be responsible for any claim, cost
or expense of Landlord resulting solely from gross negligence of Landlord, its agents or employees. It is understood and agreed
that all personal property of any kind, nature or description whatsoever, kept, stored or maintained upon or in the Leased Premises
shall be kept, stored or maintained at the sole risk and responsibility of Tenant exclusively. Furthermore, Tenant hereby releases
Landlord, its agent, Ari-El Enterprises, Inc. (or such other management agent as Landlord directs) from any and all claims or causes
of action whatsoever which Tenant might otherwise now or hereafter possess resulting in or from or in any way connected with any
loss covered or which should have been covered by insurance, including deductible and/or uninsured portion thereof, maintained
and/or required to be maintained by Tenant pursuant to this Lease.

 

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(F)      Increase in Amount and Type of Insurance. Landlord shall have the right, exercisable in its sole reasonable judgment at
any time by giving prior written notice thereof to Tenant, to require Tenant to:

 

		(a)	Increase the limit and coverage amount of any insurance Tenant is required to maintain pursuant
to this Paragraph to an amount Landlord, any mortgagee, or any superior landlord may, in its sole judgment, deem sufficient; or
	 	 	 

		(b)	Purchase other insurance and/or endorsements in such amounts or types as Landlord, any mortgagee,
or superior landlord may require from time to time.
	 	 	 

(G)      Special Exclusions. All insurance coverage shall be provided to Landlord in compliance with the requirements herein and
shall not contain any non-standard, special, and/or unusual exclusions or restrictive endorsements without the prior written consent
of Landlord.

 

(H)      Approval for High Deductibles or Self-Insured Retention. No insurance coverage shall contain a deductible or self-insured
retention in excess of Ten Thousand Dollars ($10,000) without the prior written consent of Landlord. All deductibles and/or retentions
shall be paid by, assumed by, for account of, and at Tenant’s sole risk.

 

12.    DESTRUCTION OF LEASED PREMISES.

 

(A)      FIRE OR OTHER CASUALTY. If the Leased Premises or Complex (or a portion of) are damaged or destroyed in whole or in part
by fire or other casualty during the term of this Lease hereof, the Landlord will repair and restore the same to good tenantable
condition with reasonable dispatch. If the Leased Premises (a) by reason of such occurrence is rendered wholly untenable, or (b)
should be damaged as a result of a risk which is not covered by Landlord’s insurance, or (c) should be damaged in whole or
in part during the last two (2) years of the Lease term or if the Lease term is less than two (2) years, Tenant, at Landlord’s
sole option, shall vacate and surrender the Leased Premises to Landlord, at Landlord’s sole option, and Rent herein provided
for shall abate entirely in case the entire Leased Premises are untenantable and pro rata for the portion rendered untenantable,
in case a part only is untenantable, until the same shall be restored to a tenantable condition; provided, however, that if the
Tenant fails to adjust its own insurance or to remove its damaged goods, wares, equipment or property within a reasonable time,
and as a result thereof the repairing and restoration is delayed, there shall be no abatement of Rent during the period of such
resulting delay, and providing further that there shall be no abatement of Rent if such fire or other cause damaging or destroying
the Leased Premises shall result from the negligence or willful act of the Tenant, its employees, officers, agents, guests, invitees,
licensees, assignees, subtenants, equipment suppliers or legal representatives or any other person claiming by or under Tenant.
In the event Landlord elects to repair the damage insurable under Landlord’s policies, any abatement of Rent shall end five
(5) days after notice by Landlord to Tenant that the Leased Premises has been repaired. Further, if the Tenant shall use any part
of the Leased Premises or Complex for storage during the period of repair, a reasonable charge shall be made therefor against the
Tenant, provided further that in case the Leased Premises, or the building of which they are a part, shall be destroyed to the
extent of more than one-half of the value thereof, the Landlord may at its option terminate this Lease forthwith by a written notice
to the Tenant. Landlord will retain all insurance proceeds from the fire or other casualty.

 

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(B)      TENANT’S PERSONAL PROPERTY. In no event shall Landlord be required to repair or replace Tenant’s merchandise,
trade fixtures, business machines or equipment.

 

13.    WAIVER OF SUBROGATION. Tenant hereby release Landlord and their respective agents and employees from any and all liability
claiming through or under them by way of subrogation or otherwise for any loss or damage to property caused by or resulting from
risks insured against fire or extended coverage casualty insurance carried or required to be carried by the Tenant. Landlord and
Tenant each agrees that it will request its insurance carriers to include in its policies such a clause or endorsement, and will
include such a clause in their policy.

 

14.    MAINTENANCE, REPAIRS, REPLACEMENT AND ALTERATIONS.

 

(A)      LANDLORD’S MAINTENANCE OBLIGATIONS. As part of the Operating Expenses Landlord, after receiving written notice from
Tenant as defined in Paragraph 32(B) of this Lease and having reasonable opportunity thereafter to obtain the necessary workmen,
therefor agrees to repair only the roof and the exterior walls of the Leased Premises, unless damaged due to any act or omission
of Tenant or Tenant’s agent, representatives, employees, licensees, invitees or contractors, in which case Landlord shall
undertake such repairs at Tenant’s sole cost and expense and Tenant shall pay Landlord within seven (7) days after receipt
of written notice from Landlord for the cost of all such repairs and all other losses incurred by Landlord. Landlord shall not
be responsible for repairing or maintaining any part of the interior of the Leased Premises that Tenant occupies including the
doors, hardware, frames, hinges, or overhead roll-up door or the window glass, casings, frames or any of the appliances or appurtenances
or any attachment thereto or attachments to said building or Leased Premises used in connection therewith. Neither Tenant nor Tenant’s
contractor shall cut, breach, modify, alter or otherwise affect the roof without the prior written consent of Landlord, which consent
may be conditioned on Tenant using a contractor approved by Landlord. Any costs of performing any roof work on behalf of Tenant
shall be done at Tenant’s sole cost which amount shall be due and payable upon receipt of invoice from Landlord and shall
be subject to a fifteen percent (15%) administration fee. In accordance with this Lease, Tenant shall be liable for any and all
damage caused to the roof by Tenant’s contractor.

 

(B)      TENANT’S MAINTENANCE OBLIGATIONS. All work and repairs within the Leased Premises and to systems servicing the Leased
Premises which may not be contained within the Leased Premises shall be the sole responsibility of Tenant. Tenant shall make all
repairs and/or replacements using only like kind, parts, systems, equipment and of same capacity. All work performed by Tenant
shall require Landlord’s prior written approval prior to being made by Tenant. Tenant shall keep the interior of the Leased
Premises and all systems servicing the Leased Premises in good order and repair in accordance with the laws of the State of Michigan,
and in accordance with all directions, rules and regulations of the fire marshal, building inspector or other proper officers of
the governmental agencies having jurisdiction. Tenant will not overload the structural components of the Leased Premises (i.e.
roof trusses, columns demising walls or partition walls) by installing equipment or cranes nor shall Tenant overload the electrical
wiring and will not install any equipment to the structural components of the Leased Premises or add additional electrical wiring
or plumbing or signage unless it has first obtained Landlord’s written consent thereto, and if such consent is given, Tenant
will install same at its own cost and expenses and be responsible at Tenant’s sole cost and expense to repair any damage
said installation or removal may cause.

 

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(C)      TENANT’S FAILURE TO MAINTAIN. If Tenant shall fail to perform any of its obligations under this Paragraph, then Landlord
may, but shall not be obligated to, and without waiving or releasing such obligation, undertake such obligation and do all necessary
work in connection therewith without liability to Landlord, for the account of Tenant, and Landlord may enter the Leased Premises
for such purpose. Notwithstanding Tenant’s obligations under this Paragraph, if Tenant requests that Landlord perform any
of Tenant’s obligations under this Paragraph and Landlord agrees, in Landlord’s sole discretion, to perform such work,
which work shall be performed without liability to Landlord, all work performed in connection therewith shall be for the account
of Tenant, and Landlord may enter the Leased Premises for such purpose. Any agreement by Landlord to perform any work for Tenant
shall not relieve Tenant of any of its obligations under this Paragraph. No entry by Landlord under this Paragraph shall be deemed
an eviction of Tenant. Tenant shall pay to Landlord on demand, within seven (7) days of receipt of a statement therefor, the amount
incurred by Landlord as a result of any work performed by Landlord under this Paragraph, which amount shall include a fifteen percent
(15%) administration fee. Tenant’s failure to comply with this Paragraph shall constitute a default under this Lease.

 

(D)      ALTERATIONS. Tenant shall not make any alterations, additions or improvements to the Leased Premises without Landlord’s
prior written consent, and all alterations, additions or improvements made by either of the parties hereto upon the Leased Premises,
except movable office furniture put in at the expense of the Tenant, shall be the property of the Landlord and shall, at the sole
option of the Landlord, remain upon and be surrendered with the Leased Premises at the termination of this Lease, without molestation
or injury, or at Landlord’s request, and at Tenant’s sole expense, the Leased Premises shall be restored to its original
condition. Tenant shall only use contractors, which have been approved in writing by Landlord for any permitted alterations to
the Leased Premises, and shall not permit any mechanic’s liens to be placed or remain upon the Leased Premises, the Building
or the Property and shall discharge same immediately in accordance with Paragraph 6(B). Tenant will not overload the electrical
wiring and will not install any additional electrical wiring, computer cables or plumbing unless it has first obtained Landlord’s
written consent thereto, and if such consent is given, Tenant will install same at its own cost and expense and will thereafter
be responsible for maintaining it at Tenant’s sole cost and expense. Before commencing any improvements or alteration work
in the Leased Premises, Tenant shall require all contractors of Tenant performing such work in the Leased Premises to carry and
maintain, at no expense to Landlord, any or all of the following insurance policies as determined by Landlord written by companies
acceptable to Landlord: (i) commercial general liability insurance, which shall name Tenant and Landlord as additional insureds,
in such amounts as required by Landlord and with any endorsements that Landlord requires; (ii) workers’ compensation insurance
in such amounts required by law and covering all persons employed by said contractor and engaged in the work; (iii) [if applicable]
comprehensive automobile liability insurance in such amounts as required by Landlord; and (iv) insurance against such other perils
or legal risks and in such amounts as Landlord may from time to time establish. Upon Landlord’s request, Tenant shall furnish
to Landlord duplicate original counterparts of any or all insurance policies required pursuant to Paragraph 11 herein above.

 

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(E)      CONDITION AT TERMINATION. Tenant further covenants and agrees that it will, at the expiration or termination of this Lease,
yield and deliver up the Leased Premises in a broom-clean condition, with all systems and doors servicing the Leased Premises in
good working order and in like condition as when taken, reasonable use and wear as determined by the Landlord thereof excepted
and immediately upon surrender will deliver all keys and building security cards for the Leased Premises to Landlord at the place
then fixed for the payment of Rent. In the event the Leased Premises are not returned to Landlord in the condition required in
this Paragraph and Paragraph 6(B), Landlord may enter the Leased Premises and restore and repair the Leased Premises to the original
condition and configuration required by this Lease at Tenant’s sole cost and without prior notice to the Tenant. Tenant shall
pay all costs associated with restoring and/or repairing the Leased premises immediately upon demand from Landlord. Said cost shall
include a fifteen percent (15%) administrative fee. Landlord shall not be required to give prior written notice or have said costs
to repair, restore or reconfigure the Leased Premises approved by Tenant prior to performing said work. If the repair work is extensive
in nature, Tenant shall be deemed to be a holdover Tenant until such time the Leased Premises has been repaired and/or restored
to the condition required by this Lease. Upon the earlier of vacating or Lease expiration/termination, Tenant shall be responsible
for removing all of its personal property and trash from the Leased Premises at Tenant’s own expense. Tenant shall not make
any alterations, replacements, additions or improvements to the Leased Premises without Landlord’s prior written consent,
and all replacements, alterations, additions or improvements made by either of the parties hereto upon the Leased Premises, except
movable office furniture, shall be the property of the Landlord and shall, at the sole option of the Landlord, remain upon and
be surrendered with the Leased Premises at the expiration or termination of this Lease, without molestation or damage, or at Landlord’s
request, and at Tenant’s sole expense, the Leased Premises shall be restored to the condition required by this Lease. Furthermore,
Tenant shall be responsible to remove any and all satellite dishes, computer cabling, antennas and associated wires, which Tenant
installed. Any movable furniture, fixtures and personal effects of Tenant not removed from the Complex at the expiration or termination
of the Lease term in accordance with this Paragraph shall conclusively be deemed to have been abandoned and may be removed, sold
or otherwise disposed of by Landlord without notice to Tenant and without obligation to account therefor, and Tenant shall pay
Landlord for all costs and expenses incurred in connection with the disposition of such property within five (5) days after receipt
of written demand for same; said amount shall include a fifteen percent (15%) administrative fee. Alternatively, at Landlord’s
sole discretion, if any movable furniture, fixtures and personal property and effects of Tenant remain in the Leased Premises at
the expiration of the Lease term or termination, Landlord may deem Tenant to be holding over.

 

(F)      PERIODIC HVAC MAINTENANCE. Within thirty (30) days of the Lease Commencement Date, Tenant shall enter into a contract with
a licensed mechanical contractor for a preventative maintenance contract with service not less frequent than bi-annually (once
in summer and once in winter) to conduct preventive maintenance and repair of all HVAC equipment servicing the Leased Premises
and a copy of said contract and inspection reports shall be provided to Landlord. Tenant shall continue said contract in force
throughout the Initial Term or any extensions thereto. Any change of contract or mechanical contractor shall be made known to Landlord
by Tenant and a copy of Tenant’s new contract shall be delivered to Landlord so that Landlord shall at all times have a copy
of the contract currently in effect. Tenant shall provide Landlord with a copy of the contract and evidence of the most recent
service invoice and report of the mechanical contractor indicating date of service and services performed. If Tenant refuses or
neglects to enter into a contract with a mechanical contractor for the maintenance described herein, then Landlord may, but shall
not be required to, perform and complete said maintenance and repair and Tenant shall pay the cost to Landlord as Additional Rent
hereunder, upon demand which amount shall include a fifteen percent (15%) administrative fee to cover Landlord’s overhead
in this regard.

 

(G)      LANDLORD NOT LIABLE. Landlord shall not be responsible or liable to Tenant for any loss or damage that may be occasioned
by or through the acts or omissions of Tenant or of persons occupying any space adjacent to, connected with or adjoining the Leased
Premises or any part of the Complex, or for any loss or damage resulting to the Tenant or its property from bursting, stoppage,
backing up or leaking of water from the roof or plumbing, gas, sewer or steam pipes.

 

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15.    CARE OF LEASED PREMISES. Nothing contained in this Lease to the contrary, Tenant shall not perform any acts or carry
on any practices which may injure the building of which the Leased Premises are a part or the Complex or be a nuisance or menace
or perform any act that would not allow Landlord to provide quiet enjoyment to other tenants in the Complex and shall keep the
Leased Premises under its control (including doorways and sidewalks directly in front of and leading to the Leased Premises) clean
and free from rubbish, dirt, insects, water, snow and ice at all times, and it is further agreed that in the event the Tenant shall
not comply with these provisions, Landlord may enter upon said Leased Premises and have rubbish, dirt, insects and ashes removed
from the Leased Premises and the sidewalks cleaned, in which event Tenant shall pay all charges that Landlord shall incur for hauling
rubbish, ashes and dirt, or cleaning walks. Said charges shall be paid to Landlord by Tenant within seven (7) days after a bill
is presented to Tenant and Land shall have the same default remedy as is provided in this Lease in the event of Tenant’s
failure to pay.

 

Tenant shall at its own expense under penalty of forfeiture and
damages promptly comply with all lawful laws, orders, regulations, or ordinances of all municipal, county, state and federal authorities
now established or promulgated during the Term hereof affecting the Leased Premises hereby leased and the cleanliness, safety,
occupation and use of same. Tenant’s failure to comply with this Paragraph of this Lease shall constitute a default.

 

16.    CONDITION OF LEASED PREMISES AT TIME OF LEASE. Tenant has examined or has been provided the opportunity examine and
inspect the Complex, the Leased Premises and, all doors and systems servicing the Leased Premises prior to the making of this Lease
and no representations as to the condition or state of repairs thereof have been made by Landlord, or its agent, which are not
herein expressed.

 

17.    CONDEMNATION.

 

(A)      COMPLETE TAKING. If the entire Leased Premises shall be acquired or taken by eminent domain, then this Lease shall terminate
as of the date Tenant is no longer permitted to use the Leased Premises.

 

(B)      PARTIAL TAKING OF LEASED PREMISES. If any part of the Leased Premises shall be taken rendering the remaining portion unsuitable
for the business of Tenant, then this Lease shall terminate as aforesaid. If such partial taking is not extensive enough to render
the Leased Premises unsuitable for the business of Tenant, then this Lease shall continue in effect except that the Rent shall
be reduced in the same proportion that the floor area of the Leased Premises taken bears to the original floor area thereof.

 

(C)      PARTIAL TAKING OF COMPLEX. If more than fifty percent (50%) of the floor area shall be taken, Landlord may, by written notice,
terminate this Lease, such termination to be effective as aforesaid.

 

(D)      LEASE TERMINATED. If this Lease is terminated as provided in this Paragraph, Rent (plus all other charges payable by Tenant
under this Lease) shall be paid up to the day that Tenant is no longer permitted to use the Leased Premises and Landlord shall
make an equitable refund of any Base and/or Additional Rent paid by Tenant in advance.

 

(E)      AWARD. Tenant shall not be entitled to and expressly waives all claims to any condemnation award for any taking, whether
whole or partial, and whether for diminution in value of the leasehold or to the fee; provided, however, Tenant shall have the
right, to the extent that same shall not reduce Landlord’s award, to claim from the condemnor, but not from Landlord, such
compensation as may be recoverable by Tenant in its own right for damage to Tenant’s business and fixtures, if such claim
can be made separate and apart from any award to Landlord, and without prejudice to Landlord’s award.

 

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18.    SECURITY PROVISION. Simultaneously with the execution and delivery of this Lease, Tenant will deposit with Landlord
the sum of Seventeen Thousand Fifteen and No/100 Dollars ($17,015.00)*, as security for the full and faithful performance
by Tenant of each and every term, covenant, condition and agreement of this Lease on Tenant’s part to be performed (“Security
Deposit”). In the event that Tenant defaults in respect of any of the terms, provisions, covenants, conditions or agreements
of this Lease, including but not limited to payment of any Rent or Additional Rent or any other sum payable by Tenant under this
Lease, Landlord may, but shall not be required to, use, apply, or retain the whole or any part of the Security Deposit for the
payment of any such Rent or other payment in default or for any other sum which Landlord may expend or be required to expend by
reason of Tenant’s default, including any damages or deficiency in the reletting of the Leased Premises, whether such damages
or deficiency may accrue before or after summary proceedings or other re-entry by Landlord. Whenever and as often as the amount
of the Security Deposit held by Landlord shall be diminished by Landlord’s application thereof, Tenant shall upon demand
immediately deposit additional money with Landlord sufficient to restore the Security Deposit to the original amount set forth
in this Paragraph. In the event that Tenant shall fully and faithfully comply with all the terms, provisions, covenants, conditions
and agreements of this Lease, the Security Deposit or any balance thereof shall be returned to Tenant within sixty (60) days after
this Lease expires. In the absence of evidence satisfactory to Landlord of any assignment of the right to receive the Security
Deposit, or the remaining balance thereof, Landlord may return the Security Deposit to the original Tenant, regardless of one or
more assignments of this Lease itself. If Landlord shall sell or lease the Complex or otherwise assign or dispose of this Lease,
Landlord shall have the right to transfer the Security Deposit to the assignee for the benefit of Tenant and Landlord shall then
be released by Tenant from all liability for the Security Deposit and Tenant shall thereafter not have any claim against Landlord
hereunder. No holder of a mortgage or any other interest shall be responsible in connection with the Security Deposit deposited
hereunder, by way of credit or payment of any Rent or otherwise, unless such holder actually shall have received the Security Deposit
deposited hereunder.

 

*Provided Tenant has made all Rent payments on time and is not
in default under the terms of this Lease, $4,098 shall be applied to the 12th month of the Initial Term and $4,221 shall
be applied to the 24th month of the Initial Term; the amount not drawn down shall be the Security Deposit under the
Lease.

 

19.    HOLDING OVER. In the event Tenant holds over after the expiration of the Initial Term or any extension thereof, thereafter
the tenancy shall be from month to month (no partial month) in the absence of a written formal agreement to the contrary signed
by both Tenant and Landlord at one and one half (1-1/2) times for the first (1st) month then two (2) times the then
monthly Rent under this Lease for the last Lease Year (plus all other charges payable by Tenant under this Lease) (“Hold
Over Rent”) for each successive month from the expiration or termination of this Lease until the date the Leased Premises
is delivered to Landlord in the condition required in this Lease, and Landlord’s right to damages for such unlawful occupancy
shall survive. Tenant must provide Landlord with thirty (30) day prior written notice to terminate its month to month tenancy
as defined herein.

 

20.    BANKRUPTCY AND INSOLVENCY. If the tenancy shall be taken in execution or by other process of law, or if Tenant shall
file a petition in bankruptcy or insolvency, or if Tenant shall be declared bankrupt or insolvent, or if a receiver shall be appointed
for Tenant’s property, or if an assignment shall be made of Tenant’s property for the benefit of creditors, Tenant
shall be in default under this Lease, and, to the extent permitted by applicable law, Landlord shall be entitled to exercise any
or all remedies set forth in this Lease. This Lease shall be deemed to have been rejected and terminated unless the trustee or
Tenant assumes this Lease within sixty (60) days after the filing of a proceeding under the Federal Bankruptcy Code or within such
other time as maybe provided under the Code. Tenant acknowledges that in entering into this Lease, Landlord relied upon a determination
that Tenant would be able to perform its obligations under this Lease. No election by a trustee or Tenant to assume this Lease
shall be effective unless the trustee or Tenant cures, or gives adequate assurance of a prompt cure of any existing default, compensates
or gives adequate assurance of compensation for any pecuniary loss incurred by Landlord arising out of any default of Tenant, and
gives adequate assurance of future performance under this Lease, including but not limited to a reasonable Security Deposit as
determined by Landlord. This Lease may be assigned by the trustee or Tenant only if Landlord acknowledges in writing that the assignee
has provided adequate assurance of future performance of all of the terms and conditions of this Lease, including but not limited
to the submission of satisfactory current, audited financial statements.

 

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The rejection of this Lease by Tenant under the Bankruptcy Code,
11 U.S.C. Section 101 et seq. shall constitute a substantial default and breach of this Lease by Tenant. Upon the occurrence of
any such event of material default and breach by Tenant, Landlord may terminate this Lease by written notice to Tenant.

 

21.    ASSIGNMENT AND SUBLETTING.

 

(A)      ASSIGNMENT AND SUBLETTING. Tenant shall not assign this Lease in whole or in part or sublet all or any part of the Leased
Premises, nor permit other persons to occupy the Leased Premises or any part thereof, nor grant any license or concession for all
or any of the Leased Premises, without the prior written consent of Landlord, which consent may be withheld in Landlord’s
sole and unfettered discretion. Tenant shall provide Landlord with a lease application form completed and signed by prospective
subtenant or assignee in the form provided by Landlord and other such financial information as Landlord may request. In the event
Landlord approves Tenant’s request to sublet and Tenant sublets the Leased Premises for an amount greater than the amount
Tenant is required to pay for said Leased Premises, then all Additional Rent shall accrue and be paid to Landlord. Any consent
by Landlord to an assignment of this Lease or subletting shall not constitute a waiver of the necessity of such consent for subsequent
assignment or subletting and shall not relieve Tenant or any guarantors of liability hereunder. An assignment for the benefit of
Tenant’s creditors or otherwise by operation of law shall not be effective to transfer or assign Tenant’s interest
under this Lease unless Landlord shall have first consented thereto in writing. Notwithstanding the above, it is understood and
agreed that Tenant may assign this Lease without Landlord’s consent, at any time during the term of this Lease, to any parent
corporation of Tenant or to the surviving corporation in connection with a merger or consolidation or a reorganization, provided
however, Tenant shall notify Landlord in writing of any such assignment, and provided assignee accepts full responsibility and
liability for all terms and obligations of this Lease.

 

(B)      CORPORATE CHANGE. If Tenant is a corporation and if at any time during the Initial Term of this Lease or any renewal or
extension thereof, the shareholder or shareholders who own a majority of either the outstanding voting shares or all outstanding
shares of capital stock of Tenant at the time of execution of this Lease cease to own a majority of such shares (except as the
result of transfers by devise or descent), the loss of a majority of such shares shall be deemed to be an assignment of this Lease
by Tenant and therefor subject in all respects to the provisions of this Paragraph. The previous sentence shall not apply, however,
if at the time of the execution of this Lease the outstanding voting shares of capital stock are listed on a recognized securities
exchange or over the counter market.

 

(C)      ADMINISTRATIVE FEE. Notwithstanding anything contained in this Lease to the contrary, Landlord shall not be obligated to
entertain or consider any request by Tenant to consent to any proposed waiver, assignment of this Lease or sublet of all or any
part of the Leased Premises unless each request by Tenant is accompanied by a nonrefundable fee payable to Landlord in the amount
of Three Hundred Fifty Dollars ($350) to cover Landlord’s administrative costs and expenses incurred in processing each of
Tenant’s requests. Furthermore, Tenant shall pay to Landlord, upon Landlord’s demand therefor, Landlord’s reasonable
attorneys’ fees incurred in the review of such documentation. Neither Tenant’s payment nor Landlord’s acceptance
of the foregoing fee shall be construed to impose any obligation whatsoever upon Landlord to consent to Tenant’s request.

 

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22.    SUBORDINATION, NOTICE TO MORTGAGEE, AND ESTOPPEL CERTIFICATE.

 

(A)      SUBORDINATION AGREEMENT. This Lease is and shall be subordinate to any mortgage now or hereafter placed on the Property,
and to all advances already made or that may be made hereafter on account of any such mortgage, to the full extent of the principal
sums secured thereby and interest thereon. Furthermore, Tenant shall on request hereafter execute any document or documents that
Landlord or any other owner of the Property may deem necessary to accomplish such subordination of Tenant’s interest in this
Lease, in default of which Landlord or such owner is hereby appointed as Tenant’s attorney-in-fact to act and to execute
such document or documents in the name of Tenant as the act and deed of Tenant, and this authority is hereby declared to be coupled
with an interest and irrevocable.

 

(B)      ESTOPPEL CERTIFICATE. Within ten (10) days of Landlord’s written request, Tenant shall provide Landlord with an Estoppel
certificate, in such form as required by Landlord, its mortgagee or any third party, indicating, to the extent same is true (and
if not true, stating the correct facts), that this Lease is in full force and effect, there have been no modifications of this
Lease other than that which has been disclosed, there are no uncured defaults on the part of Landlord, the amount of Rent and the
date of Rent last paid, that Tenant is not entitled to any future Rent concessions, that Tenant has no purchase rights, extension
rights or other rights of first refusal and such other information requested by Landlord or Landlord’s mortgagee. Landlord
and Tenant intend that any statement delivered pursuant to this Paragraph may be relied upon by any mortgagee, beneficiary or purchaser
and Tenant shall be liable for all loss, cost or expense resulting from the failure of any sale or funding of any loan caused by
any material misstatement contained in such Estoppel certificate. If Tenant fails to execute and deliver such certificate within
such ten (10) day period, same shall be deemed a material default under this Lease and Landlord or Landlord’s beneficiary,
agent or mortgagee may execute and deliver such Estoppel certificate on Tenant’s behalf, and that such Estoppel certificate
shall be fully binding upon Tenant.

 

(C)      DEFAULT NOTICE. Anything in this Lease to the contrary notwithstanding, Tenant agrees that it has no legal right to terminate
and will not terminate this Lease until Tenant has first given written notice to Landlord and to the holder of any mortgage specifying
the nature of any such default by Landlord and allowing Landlord and such mortgage holder, or either of them, ninety (90) days
after date of such notice to cure such default or a reasonable period of time in addition thereto if circumstances are such that
said default cannot reasonably be cured within said ninety (90) day period.

 

(D)      ATTORNEY-IN-FACT. In the event Tenant shall fail or refuse to execute and deliver to Landlord the documents that may be
required to evidence the intent of this Paragraph, and any other Paragraph requiring the signature of Tenant, within ten (10) days
after Landlord’s written request therefor, Tenant hereby irrevocably appoints Landlord as attorney-in-fact for Tenant with
full power and authority to execute and deliver such instruments for and in the name of Tenant, or Landlord may treat such failure
on the part of Tenant as an event of default within the meaning of this Lease.

 

(E)      LIMITATION ON SECURITY DEPOSIT. Tenant hereby agrees not to look to the mortgagee, as mortgagee, mortgagee in possession,
or successor in title to the property, for accountability for any security deposit required by the Landlord hereunder, unless such
sums have actually been received by said mortgagee as security for the Tenant’s performance of this Lease.

 

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(F)      UPON TERMINATION. Tenant hereby agrees that, upon the earlier of expiration or termination of this Lease, to the extent
that any instrument evidencing the existence of this Lease has been filed of public record by Tenant or any other person, that
Tenant shall promptly execute and deliver to Landlord, an instrument in recordable form to discharge such instrument or otherwise
to evidence the expiration or termination of this Lease (“Discharge Instrument”). Provided, further, that if Tenant
fails or refuses to promptly execute and deliver to Landlord a Discharge Instrument, then Landlord may unilaterally execute and
record a Discharge Instrument and, further, Tenant hereby appoints Landlord with a power of attorney, which power shall be deemed
to be coupled with an interest, for the limited purpose of executing a Discharge Instrument on behalf of Tenant, and thereafter
recording such Discharge Instrument in the public record.

 

23.    UTILITIES. Tenant shall have all utilities (except water service) transferred into its name as of the Lease Commencement
Date. Tenant shall pay directly to local utility companies through the entire term of this Lease when due for the use of all utilities
for the Leased Premises, including water, sewer, gas and electricity charges, and shall provide and pay for its own heating and
air conditioning. If any utilities are not separately metered or assessed such as the water or are only partially separately metered
or assessed and are used in common with other tenants of the building in which the Leased Premises are located, Tenant shall pay
to Landlord a proportion of such utility charges based on square footage of floor space leased to each tenant using such common
facilities, or such other reasonable measure of use as Landlord may obtain. Tenant’s responsibility to pay for all utilities
shall commence as of the date on which possession of the Leased Premises is delivered to Tenant without regard to any Free Rent
Period or formal commencement date of this Lease. Water is not separately metered therefor Tenant shall pay Landlord, as Additional
Rent, the sum of Eighty and No/l00 Dollars ($80.00) per month, which amount is subject to periodic adjustment as
reasonably determined by Landlord. Tenant shall, at all times during the term of this Lease, maintain sufficient heat in the Leased
Premises so as to keep the water lines in and serving the Leased Premises from freezing during the winter months. Tenant shall
be responsible for all damages resulting from Tenant’s failure to comply with the forgoing provision.

 

24.    PARKING. Tenant’s customers, employees and company vehicles shall park in the spaces provided (i) directly adjoining
the front and rear of the Leased Premises, not to exceed the lineal measurement of its frontage and rear Leased Premises; and (ii)
within the Common Areas not to infringe on any other tenant’s lineal measurement of its frontage and rear of the Leased Premises.
Tenant and its employees shall not park vehicles in parts of the parking area which may be designated for customer parking or loading
area. Tenant or its employees shall not use any of the Common Areas for the purpose of overnight or weekend storage of any automobiles,
trucks or other vehicles owned or operated by Tenant or its agents, contractors, customers or employees with the exception of company
vehicles that identify the company name and address. Landlord reserves the right to designate specific parking areas for employee
parking, company vehicle(s) or loading area. Landlord shall not be responsible to Tenant, its employees, agents or visitors for
violations by any other tenant, visitor or user of the parking areas and facilities or assignment of spaces, nor shall Landlord
have any obligation to police the unauthorized use of any such parking spaces. Tenant or its employees shall not use any of the
Common Areas for the purpose of displaying vehicles “for sale” or store wrecked, damaged or disabled vehicles, or for
overnight or weekend storage of any automobiles, trucks or other vehicles owned or operated by Tenant or its agents, contractors
or employees with the exception of company vehicles that identify the company name and address. If notice is given to Tenant by
Landlord and Tenant or its employees continue to violate or ignore Landlord’s notice, Tenant shall be considered in violation
of this Paragraph, and Landlord may claim default under this Lease. In addition, Landlord may charge Tenant Seventy-Five Dollars
($75) per day, for each day or partial day, per vehicle violation, attach violation stickers or notices to the vehicles and have
the vehicles removed at Tenant’s expense. Landlord shall have the non restrictive right to tow vehicles from the Complex
and shall not be responsible for any vehicle damage or charges.

 

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25.    EXECUTION AND DELIVERY. The execution of this Lease by Tenant and the delivery of the same to Landlord shall not constitute
a reservation of an option for the Leased Premises or an agreement by Landlord to enter into a Lease with Tenant and this Lease
shall become effective only if and when Landlord executes and delivers the same to Tenant; provided, however, that the execution
and delivery of this Lease by Tenant to Landlord shall constitute an irrevocable offer by Tenant to lease the Leased Premises on
the terms and conditions herein contained, which offer may not be withdrawn or revoked by Tenant seven (7) days after execution
and delivery of this Lease to Landlord.

 

26.    ENVIRONMENTAL HAZARDS.

 

(A)      NO HAZARDOUS SUBSTANCES. Tenant agrees that neither Tenant, nor any of Tenant’s agents or employees nor any other
person will store, place, generate, manufacture, refine, handle, or locate on, in, under or around the Leased Premises or the Complex
any Hazardous Substances (as defined in this Paragraph), except for storage, handling and use of reasonable quantities and types
of cleaning fluids, office supplies, and ___________ (if blank shall mean None) in the Leased Premises to be used in the ordinary
course and the prudent conduct of Tenant’s business in the Leased Premises. However, (a) the storage, handling and use of
such permitted Hazardous Substances must at all times conform to all state, federal and local health, safety, environmental, hazardous
waste and other similar laws and regulations, existing or established during the Lease Term and to all applicable fire, safety
and insurance requirements; (b) the types and quantities of permitted Hazardous Substances which are stored in the Leased Premises
must be reasonable and appropriate to the nature and size of Tenant’s operation in the Leased Premises; (c) no Hazardous
Substances shall be spilled or disposed of on, in, under or around the Complex or otherwise discharged from the Leased Premises
or any area adjacent to the Complex; and (d) in no event will Tenant be permitted to store, handle or use on, in, under or around
the Leased Premises any Hazardous Substance which will increase the rate of fire or extended coverage insurance on the building
in which the Leased Premises are a part or the Complex, unless: (1) such Hazardous Substance and the expected rate increase have
been specifically disclosed in writing to Landlord; (2) Tenant has agreed in writing to pay any rate increase related to each such
Hazardous Substance; and (3) Landlord has approved in writing each such Hazardous Substance, which approval shall be subject to
Landlord’s discretion.

 

(B)      TENANT REPRESENTATION. As of the execution date of this Lease, Tenant represents and warrants to Landlord that, except as
otherwise disclosed by Tenant to Landlord, Tenant has no intent to bring any Hazardous Substances on, in or under the Leased Premises
except for the type and quantities authorized in this Paragraph.

 

(C)      MOISTURE PREVENTION. Tenant shall maintain appropriate climate control, keep the Leased Premises clean, and take necessary
measures to retard and prevent mold from accumulating in the Leased Premises. Tenant shall clean and dust the Leased Premises on
a regular basis and to remove visible moisture accumulation on windows, window sills, walls, floors, ceilings and other surfaces
as soon as reasonably possible. Tenant shall not block or cover any heating, ventilation or air-conditioning ducts. Tenant shall
report immediately in writing to Landlord: (i) any evidence of a water leak or excessive moisture in the Leased Premises or the
Complex; (ii) any evidence of mold that cannot be removed with a common household cleaner; (iii) any failure or malfunction in
heating, ventilation or air conditioning, and (iv) any inoperable doors or windows. Tenant shall be responsible for any remediation
work if required to be performed and Tenant shall indemnify and hold Landlord harmless against any claims that maybe brought by
Tenant and/or any of Tenant’s employees with regards to mold or indoor air quality.

 

(D)      ENVIRONMENTAL INDEMNIFICATION. Tenant shall indemnify, defend and hold harmless Landlord and Landlord’s agents
and mortgagee(s), if any, from and against any and all claims arising out of any breach of any provision of this Paragraph, which
expenses shall also include laboratory testing fees, personal injury claims, clean-up costs and environmental consultants’
fees. Tenant agrees that Landlord may be irreparably harmed by Tenant’s breach of this Paragraph and that a specific performance
action may appropriately be brought by Landlord; provided that, Landlord’s election to bring or not bring any such specific
performance action shall in no way limit, waive, impair or hinder Landlord’s other remedies against Tenant.

 

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(E)      ENVIRONMENTAL AUDIT AND CERTIFICATION. Tenant, upon request, shall certify in writing to Landlord upon termination of this
Lease that Tenant is in compliance with this Paragraph. In the event Landlord has reason to believe Tenant has caused environmental
contamination, Landlord shall have the right to conduct an environmental audit including a Phase I Environmental Site Assessment
(ESA) according to ASTM Standard practice E-1527 by a licensed company at Tenant’s expense and Tenant shall be responsible
for remedying any problems identified by such audit prior to the surrender of the Leased Premises and the termination of this Lease.
If the audit determines Tenant has caused contamination, at Landlord’s option, Tenant shall be deemed to be holding over
in the Leased Premises on a month-to-month basis and Hold-Over Rent shall apply in accordance with this Lease until such time as
no recognized environmental conditions are identified in the Phase I ESA report received by Landlord.

 

(F)      HAZARDOUS SUBSTANCES DEFINED. For purposes of this Paragraph “Hazardous Substance(s)” includes without limitation,
any flammable explosives, radioactive materials, hazardous materials, hazardous wastes, hazardous or toxic substances or related
materials defined in the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended (42 USC §
9601, et. seq.), the Hazardous Materials Transportation Act, as amended (49 USC § 1801, et. seq.),
the Resource Conservation and Recovery Act, as amended (42 USC § 9601, et. seq.), the Natural Resources and
Environmental Protection Act (MCLA 324.101, et. seq.), and in the regulations adopted in publications promulgated
pursuant thereto, or pursuant to any other federal, state or local governmental law, ordinance, rule or regulation.

 

27.    ACCESS TO LEASED PREMISES.

 

(A)      LANDLORD’S ACCESS. Landlord shall have the right to install, maintain, use, repair and replace pipes, ducts, wires
and conduits leading through the Leased Premises in locations which will not materially interfere with Tenant’s use of such
Leased Premises and serving other parts of the Complex. Landlord its agents, employees and/or contractors shall have the right
to enter the Leased Premises at any time in response to an emergency, and at other reasonable times to (a) examine or inspect the
Leased Premises, or (b) show it to prospective lenders, purchasers or lessees, or (c) to make repairs, replacements, alterations,
improvements, reviews, investigations, analysis or additions as Landlord may deem necessary or desirable. Landlord shall be allowed
to take material into the Leased Premises without constituting an eviction of Tenant in whole or in part and the Rent reserved
shall not be abated. During the six (6) months prior to the expiration of the term of this Lease, Landlord may place upon the Leased
Premises the usual notices “For Lease” or “For Sale”. If during the last month of the Lease Term Tenant
shall have removed substantially all of its property, Landlord may immediately enter and alter, renovate, and redecorate the Leased
Premises, without elimination or abatement of Rent and without liability to Tenant. Nothing herein contained, however, shall be
deemed or construed to impose upon Landlord any obligation, responsibility, or liability for the care, supervision, or repair of
the Leased Premises other than as herein provided.

 

(B)      MASTER KEY. It is understood and agreed that the Leased Premises door locks are keyed to a master system and that Tenant
shall not change the locks without Landlord’s consent. In the event Tenant is granted authorization to change locks, it shall
be at the sole cost of Tenant and said new lock must be rekeyed to Landlord’s master system by a locksmith approved by Landlord.
Any unauthorized changing of locks by Tenant shall be considered a default under this Lease and Landlord shall have the right to
rekey the Leased Premises at Tenant’s sole cost.

 

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28.    FORCE MAJEURE. Except with respect to payment of money, Landlord and/or Tenant, as the case may be, shall be excused
for the period of any delay in the performance of any obligations hereunder when prevented from doing so by cause or causes beyond
Landlord’s or Tenant’s control which shall include, without limitation, all labor disputes, civil commotion, war, warlike
operations, invasion, rebellion, hostilities, military or usurped power, sabotage, governmental regulations or controls, fire and
other casualty, inability to obtain any material services or financing, or through acts of God but, in no event, shall Tenant be
excused from paying Rent.

 

29.    CORPORATE TENANT. If Tenant is or will be a corporation, the persons executing this Lease on behalf of Tenant hereby
covenant and warrant that Tenant is a duly incorporated or duly qualified (if foreign) corporation and is authorized to do business
in the state in which the Leased Premises is located, and that the person or persons executing this Lease on behalf of Tenant is
an officer or are officers of such Tenant, and that he/she or they, as such officers, are duly authorized to sign and execute this
Lease.

 

30.    TENANT DEFAULT. All of Tenant’s covenants and agreements under this Lease are to be construed as conditions precedent
to Tenant’s peaceful and quiet possession of the Leased Premises during the term of this Lease. If Tenant timely pays all
of the aforesaid installments of Rent and Additional Rent, if any, and performs and observes all of the covenants, agreements and
obligations of Tenant, subject to all other terms and conditions of this Lease, then Tenant’s peaceful and quiet possession
of the Leased Premises during the term of this Lease shall not be disturbed by Landlord or by anyone claiming by, through or under
Landlord. If Tenant fails to pay when due any one of installments of Rent or Additional Rent, if any, or fails to perform or observe
any other covenants, agreements or obligations of Tenant, and if such failure continues for seven (7) days (in the case of monetary
default) or fifteen (15) days (in the case of non-monetary default, then the Tenant shall be in default. Thereafter, this Lease
may be forfeited and thereby become null and void at the option of Landlord and Landlord may immediately, or at any time thereafter,
re-enter the Leased Premises or any part thereof, and accelerate all Rent and charges due, including any costs incurred by Landlord
including re-leasing commissions, attorney fees, tenant improvement costs and any other direct expenses incurred by Landlord as
a result of Tenant’s default, which amount shall become immediately due and payable by Tenant to Landlord plus applicable
late charges if not paid when due. In the event Tenant vacates the Leased Premises for any period in excess of seven (7) days,
Landlord, at its option, shall have the right, but not the duty, to immediately re-enter into possession of the Leased Premises
for the purpose of leasing said Leased Premises and change the locks to the Leased Premises. Landlord will refund to Tenant any
sum received as a result of leasing out said Leased Premises during any remaining portion of the Initial Lease Term, after Landlord
shall have received the balance due as provided above, including any costs incurred by Landlord including leasing commissions,
attorney fees, tenant improvement costs and any other direct expenses incurred by Landlord as a result of Tenant’s default.
Landlord shall use reasonable diligence in connection with the leasing of said Leased Premises. In case of a default in payment
by Tenant or any other violation of this Lease, in Tenant’s absence from the Leased Premises, service of process on Tenant’s
statutory agent should be good and valid service upon the Tenant. Acceptance of a partial Rent payment shall not constitute a waiver
of any of Landlord’s rights available under this Lease or at law or equity, including, without limitation, the right to recover
possession of the Leased Premises. Tenant hereby irrevocably waives any right otherwise available under any law to redeem or reinstate
this Lease or renegotiate this Lease or Tenant’s right to possession after this Lease or Tenant’s right to possession
is terminated based on a default by Tenant. The parties hereby waive trial by jury in any action, proceeding or counterclaim brought
by either of the parties hereto against the other or any matters whatsoever arising out of or in any way connected with this Lease,
the relationship of Landlord and Tenant, Tenant’s use or occupancy of the Leased Premises, and/or claim of injury or damage.

 

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31.    LIMITED LIABILITY. Anything contained in this Lease to the contrary notwithstanding, Tenant shall look solely to the
estate and property of Landlord in the land and buildings comprising the Complex of which the Leased Premises forms a part for
the collection of any judgment (or other judicial process) requiring the payment of money by Landlord in the event of any default
or breach by Landlord with respect to any of the terms and provisions of this Lease to be observed and/or performed by Landlord;
subject, however, to the prior rights of any ground Lease or underlying landlords or the holder of any mortgage covering the Complex;
and no other assets of the Landlord shall be subject to levy, execution or other judicial process for the satisfaction of Tenant’s
claim. In the event Landlord conveys or transfers its interest in the Complex or in this Lease, except as collateral security for
a loan, upon such conveyance or transfer, Landlord (and in the case of any subsequent conveyances or transfers, the then grantor
or transferor) shall be entirely released and relieved from all liability with respect to the performance of any covenants and
obligations on the part of the Landlord to be performed hereunder from and after the date of such conveyance or transfer, provided
that any amounts then due and payable to Tenant by Landlord (or by the then grantor or transferor) or any other obligation then
to be performed by Landlord (or by the then grantor or transferor) for Tenant under any provisions of this Lease, shall either
be paid or performed by Landlord (or by the grantor or transferor) or such payment or performance assumed by the grantee or transferee;
it being intended hereby that the covenants and obligations on the part of Landlord to be performed hereunder shall be binding
on Landlord, its successors and assigns only during and in respect of their respective periods of ownership of an interest in the
Complex or in this Lease. This provision shall not be deemed, construed or interpreted to be or constitute an agreement, express
or implied, between Landlord and Tenant that the Landlord’s interest hereunder and in the Complex shall be subject to impressment
of an equitable lien or otherwise.

 

32.    MISCELLANEOUS CONDITIONS.

 

(A)      PLACE OF PAYMENT. All payments of Rent or other sums to be made to the Landlord shall be made at such places as the Landlord
shall designate in writing from time to time. At the time of the making of this Lease, Rent payments and other monies due the Landlord
should be made payable to Ari-El Enterprises, Inc., and mailed or delivered to 29355 Northwestern Hwy., Suite
301, Southfield, Michigan 48034-1045.

 

(B)      NOTICES.

 

		(a)	Whenever any notice, demand or request is required or permitted hereunder, such notice, demand
or request shall be hand delivered with proof of service (which term includes delivery by overnight courier service) or sent by
United States Mail, registered or certified, return receipt requested, postage prepaid, to the addresses set forth below:
	 	 	 

Tenant’s Address for Notices:

ZoMedica Pharmaceuticals, Inc.

3928 Varsity Drive

Ann Arbor, Michigan 48108

Attn: Gerald Solensky

Phone Number:

 

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Landlord’s Address for Notices:

Ann Arbor Commerce Center, LLC

c/o Ari-El Enterprises, Inc.

29355 Northwestern Hwy., Suite 301

Southfield, Michigan 48034-1045

Attn: Arie Leibovitz

Phone Number:

 

With a copy to:

Ari-El Enterprises, Inc.

29355 Northwestern Hwy., Suite 301

Southfield, Michigan 48034-1045

Attn: Scott Leibovitz

Phone Number:

 

or to such other address and phone number
as may be specified from time to time by either party in writing.

 

		(b)	Either Landlord or Tenant shall have the right from time to time to designate by written notice
to the other party such other persons or places in the United States as Landlord or Tenant may desire written notice to be delivered
or sent in accordance herewith, provided, however, at no time shall either party be required to send more than one original and
two (2) copies of any such notice, demand or request required or permitted hereunder.
	 	 	 

		(c)	Any notice, demand or request which
                                         shall be served upon either of the parties in the manner aforesaid shall be deemed sufficiently
                                         given for all purposes hereunder (i) at the time such notice, demand or request is hand
                                         delivered or (ii) on the third (3rd) day after the mailing of such notice, demand or
                                         request in accordance with the preceding portions of this Paragraph.
	 	 	 

(C)      ROOF RESERVATION. The Landlord reserves the right of free access at all times to the roof of said Leased Premises and reserves
the right to rent said roof. The Tenant shall not erect any structures for storage or any aerial or use the roof for any purpose
without the prior written consent of Landlord.

 

(D)      RECORDING. Tenant shall not record this Lease, but will, at the request of Landlord, execute a memorandum thereof in recordable
form specifying the Lease Commencement Date and expiration of the term of this Lease and other information required by statute.
Either Landlord or Tenant may then record said memorandum of Lease.

 

(E)      ATTORNEY’S FEES. If Landlord uses the services of an attorney in connection with (i) a breach or default in the performance
of any of the provisions of this Lease, in order to secure compliance with such provision or recover damages therefor, or to terminate
this Lease or evict Tenant, or (ii) any action brought by Tenant against Landlord, or (iii) any action brought against Tenant in
which Landlord is made a party, Tenant shall reimburse Landlord upon demand for any and all attorney fees and expenses so incurred
by Landlord.

 

(F)      ADDITIONAL PAYMENTS. Tenant shall pay any and all sums of money or charges required to be paid by Tenant under this Lease
promptly when the same are due, without any deductions or set-off whatsoever. Tenant’s failure to pay such amounts or charges
when due shall carry with it the same consequences as Tenant’s failure to pay Rent and Additional Rent, if any. Unless otherwise
specified, all such amounts or charges shall be payable to Landlord at the place where the Rent is payable.

 

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(G)      QUIET ENJOYMENT. The Landlord covenants that the said Tenant, on payment of all the aforesaid installments and performing
all the covenants aforesaid, shall and may peacefully and quietly have, hold and enjoy the said Leased Premises for the term of
this Lease aforesaid.

 

(H)      LAWS OF THE STATE OF MICHIGAN. This Lease shall be governed by and construed pursuant to the laws of the State of Michigan.

 

(I)       ENTIRE AGREEMENT. This Lease, including the Exhibits, Rider and/or Addenda, if any, attached hereto, sets forth the entire
agreement between the parties hereto. All prior conversations or writings between the parties hereto and their representatives
are merged herein and extinguished. All modifications to this agreement and all waivers of any provisions of this agreement, to
be effective, shall be in writing and signed by both parties. This agreement cannot be modified or amended in anyway by any oral
agreements.

 

(J)      PRONOUNS. It is agreed that in this Lease the word, “he”, shall be used as synonymous with the words, “she”,
“it” and “they”, and the word, “his”, synonymous with the words, “her”, “its”
and “their”.

 

(K)      BINDING NATURE. The covenants, conditions and agreements contained in this Lease shall bind and inure to the benefit of
Landlord and Tenant and their respective heirs, successors, legal representatives and permitted assigns.

 

(L)      REMEDIES NOT EXCLUSIVE, WAIVER. Each and every of the rights, remedies and benefits provided by this Lease shall be cumulative,
and shall not be exclusive of any other of said rights, remedies and benefits, or of any other rights, remedies and benefits allowed
by law.

 

One or more waivers of any covenant or condition by Landlord shall
not be construed as a waiver of a further or subsequent breach of the same covenant or condition, and the consent or approval by
Landlord to or of any act by Tenant requiring Landlord’s consent or approval shall not be deemed to waive or render unnecessary
Landlord’s consent or approval to or of any subsequent similar act by Tenant.

 

(M)        SEVERABILITY. If any term or provision of this Lease shall to any extent be held invalid or unenforceable, the remaining
terms and provision shall not be affected thereby, but each term and provision of this Lease shall be valid and enforced to the
fullest extent permitted by law.

 

(N)      CAPTIONS. The captions of this Lease are for convenience only and are not to be construed as part of this Lease and shall
not be construed as defining or limiting in any way the scope or intent of the provisions hereof.

 

(O)      TIME OF ESSENCE. This Lease shall be construed as if “Time is of the Essence”.

 

(P)      FAX/DIGITAL SIGNATURES BINDING. Landlord and Tenant agree that this Lease may be transmitted between them by facsimile machine
or electronically. Both parties intend that faxed or digital signatures constitute original signatures and that a faxed or electronically
transmitted agreement containing the signatures (original, faxed or digitally signed) of all parties is binding on the parties.
Faxed or electronically transmitted copies shall be followed by originals by mail.

 

    	24

     

    

(Q)      MOVING GUIDELINES. Tenant shall be responsible to pay all costs associated with moving into the Leased Premises. Tenant
shall at its own expense be responsible for removal and disposal of all discarded furniture, packing boxes and materials not removed
by Tenant’s moving company, immediately upon completion of move in. Any expenses incurred by Landlord for special pick-up
and removal of said items shall be billed to Tenant and will be due and payable upon receipt of Landlord’s invoice. Tenant
must protect all areas including but not limited to door jambs, elevator cabs, walls and railings. Tenant shall be fully and solely
responsible for all costs associated with any damages to the Leased Premises and Complex or injuries to persons or to persons’
personal property resulting from the action of Tenant’s moving company and/or its employees.

 

(R)      SIGNAGE/ADVERTISING DISPLAY.

 

		(a)	Unit and Pylon Signage. Landlord, at Tenant’s expense, shall have the right to install
unit signage and/or pylon signage, if made available by Landlord to Tenant, in conformance with Landlord’s approved signs
as used for other tenants at the complex. Tenant shall pay for said signage including installation and all other costs associated
with said signage upon receipt of invoice from Landlord.
	 	 	 

		(b)	Advertising Display. It is further agreed that all signs and advertising displayed in the
Leased Premises shall be such only to advertise the business carried on upon said Leased Premises, and if visible from the exterior
that the Landlord shall control the character and size thereof, and that no sign shall be displayed excepting such as shall be
approved in writing by the Landlord, and that no awning or sign shall be installed or used on the exterior of said building unless
approved in writing by the Landlord.
	 	 	 

(S)      CONFIDENTIALITY CLAUSE. It is understood and agreed that the terms and conditions of this Lease Agreement between Landlord
and Tenant shall remain confidential. Tenant, its principals, employees and representatives shall not discuss this Lease terms,
rates or conditions with any third party unless authorized by or requested to do so by Landlord. Any breach of confidentiality
by Tenant shall be deemed a material default hereunder and in which event, this Lease may be canceled at the option of the Landlord
without prior notice or demand.

 

(T)      CONSTRUCTION LIENS. No work performed by Landlord or approved by Landlord and performed by Tenant shall be deemed to have
been completed for Landlord’s benefit. Should any mechanic’s, construction, or other lien be filed against the building,
the Leased Premises or any part thereof for any reason whatsoever by reason of Tenant’s acts or omissions or because of a
claim against Tenant, the Lien shall attach to Tenant’s interest only and Tenant shall cause the same to be canceled and
discharged of record by bond or otherwise within ten (10) days after notice by Landlord and shall hold Landlord harmless and indemnify
Landlord from all costs, including costs of defense, expenses, and attorney’s fees.

 

(U)      RELOCATION. Landlord reserves the right from time to time upon at least thirty (30) days prior written notice, to relocate
Tenant to an alternate location (“New Space”) within the Complex. The New Space shall be approximately equal to or
greater in size than the Leased Premises. All reasonable, actual out of pocket moving expenses incurred in relocating Tenant to
the New Space shall be borne by Landlord. Tenant shall execute, acknowledge and deliver to Landlord an amendment prepared by Landlord
within five (5) days after receipt thereof, which amendment shall formalize the change in location of the Leased Premises.

 

    	25

     

    

(V)      RECAPTURE UPON DEFAULT. To induce Tenant to execute this Lease, Landlord has provided Tenant with Rent concessions consisting
of free rent (“Free Rent”) and a Tenant Improvement Allowance for the benefit of Tenant (“Costs”). Upon
any event of default, all Free Rent shall become immediately due and payable. In addition, Tenant shall also pay Landlord the unamortized
portion of the Costs from the date of default through the end of this Lease term as determined by Landlord based upon Landlord’s
actual costs incurred, including all direct and indirect hard costs, soft costs and brokerage commissions without limitation, associated
with the construction of the improvements for the Leased Premises and the leasing of same to Tenant.

 

(W)      LEASE CONSTRUCTION. The parties hereto participated jointly in the preparation of this Lease, and each party has had the
opportunity to obtain the advice of legal counsel and to review, comment upon and redraft this Lease. Accordingly, it is agreed
that no rule of construction shall apply against any party or in favor of any party. This Lease shall be construed as if the parties
jointly prepared it, and any uncertainty or ambiguities shall not be interpreted against any one party and in favor of the other.

 

(X)      WAIVER OF JURY TRIAL. Landlord and Tenant waive any right to a trial by jury in any action or proceeding based upon, or
related to, the subject matter of this Lease. This waiver is knowingly, intentionally, and voluntarily made by Tenant, and Tenant
acknowledges that neither Landlord nor any person acting on behalf of Landlord has made any representations of fact to induce this
waiver of trial by jury or in any way to modify or nullify its effect. Tenant further acknowledges that he has been represented
(or has had the opportunity to be represented) in the signing of this Lease and in the making of this waiver by independent legal
counsel, selected of his own free will, and that he has had the opportunity to discuss this waiver with counsel. Tenant further
acknowledges that he has read and understands the meaning and ramifications of this waiver provision.

 

(Y)      INTEREST RATE. If Tenant fails to pay when due any charge required to be paid by Tenant to Landlord such unpaid amount shall
bear interest from the due date thereof to the date of payment at the rate of twelve percent (12%) per annum.

 

(Z)      TENANT’S SUPPLEMENTAL SECURITY MEASURES. Subject to the terms of Paragraph 5(B) and 14(D) of this Lease, Tenant shall
be permitted to install its own supplemental security measures at the Leased Premises (“Supplemental Security Measures”).
Tenant agrees that all of its Supplemental Security Measures shall be subject to Landlord’s prior written approval. Landlord
shall not grant approval to any Supplemental Security Measures that interfere or are incompatible with Landlord’s security
measures for the building or consist of armed guards. If Tenant elects to install any Supplemental Security Measures at the Leased
Premises, Tenant agrees to use reasonable efforts to coordinate its security functions with Landlord and cooperates to develop
procedures with Landlord to implement Tenant’s Supplemental Security Measures in an efficient and effective manner and must
provide Landlord with an independent access code to any alarm system. Tenant will keep and maintain, in good working order, condition,
and repair, its Supplemental Security Measures, and will make all repairs and replacements thereto. Tenant agrees to pay all costs
and expenses of its Supplemental Security Measures, including, but not limited to, installation, maintenance, repair, monitoring
and replacement costs. Tenant agrees that in no event shall Landlord, or its agents and employees, have any liability or responsibility
for the effectiveness of any of Tenant’s Supplemental Security Measures. Tenant’s release and indemnity set forth in
Paragraph 10(F) of this Lease shall, without limitation, apply to all claims or losses arising out of or resulting from the presence
or absence of Tenant’s Supplemental Security Measures for the Leased Premises.

 

    	26

     

    

(AA)      AUTHORITY TO SIGN LEASE. The undersigned person signing on behalf of Tenant hereby declares, warrants, represents, acknowledges
and states that he or she is an authorized representative of the Tenant and has been provided complete authority to bind the Tenant
to this Lease Agreement.

 

SIGNATURE PAGE FOLLOWS

 

 

 

 

 

    	27

     

    

IN WITNESS WHEREOF, The parties have hereunto
set their hands and seals the day and year first above written.

 

 

	 	 	TENANT:
	 	 	ZoMedica Pharmaceuticals, Inc.,
	 	 	a Delaware corporation
	 	 	 
	 	 	BY:  	/s/Gerald Solensky Jr.
	 	 	 	(Signature)
	 	 	 	 
	 	 	ITS:  	President
	 	 	 	 
	 	 	 	Gerald Solensky Jr.
	 	 	 	(Please Print Name & Title)
	 	 	 
	 	 	DATE EXECUTED BY TENANT: 6/18/15
	 	 	 
	 	 	 
	 	 	LANDLORD:
	 	 	Ann Arbor Commerce Center, LLC,
	 	 	a Michigan limited liability company
	 	 	 
	 	 	BY:  	/s/ Patrick Kobylarz
	 	 	 	 
	 	 	ITS:  	Authorized Agent
	 	 	 
	 	 	DATE EXECUTED BY LANDLORD:  6/25/15
	 	 	 

 

 

    	28

     

    

     

     

    

EXHIBIT “B”

 

Legal Description

 

Tax Id Number(s); 12-09-400-020 (As to Lot 26), 12-09-400-035 (As
to Lots 27 and 28), 12-09-400-038 (As to Lot 29)

 

Land Situated in the City of Ann Arbor in the County of Washtenaw
in the State of MI

 

PARCEL 1:

 

Lots 26, 27 and 28, ANN ARBOR INDUSTRIAL PARK, according to the
Plat thereof, as recorded in Liber 19 of Plats, Pages 28, 29 and 30, Washtenaw County Records.

 

	Tax No.: 	09-12-09-400-020 (As to Lot 26)	 
	 	09-12-09-400-035 (As to Lots 27 and 28)	 

 

 

PARCEL 2:

 

Lots 29 and the South 50 feet of Lot 30, ANN ARBOR INDUSTRIAL PARK,
according to the Plat thereof, as recorded in Liber 19 of Plats, Pages 28, 29 and 30, Washtenaw County Records.

 

Together with an easement for ingress and egress as described in
a certain Cross Easement Agreement recorded in Liber 1631, Page 575, and Liber 1631, Page 576, Washtenaw County Records.

 

Tax No.: 09-12-09-400-038 (As to Lot 29 and the South 50 feet of
Lot 30)

 

Client Reference: 802-864 Phoenix Dr; 3930-3990, 3918-3928, 3951-3985
Varsity Dr., Ann Arbor, MI 48103

 

     

     

    

EXHIBIT “C”

 

GUARANTY

 

ATTACHED HERETO and made a part of Lease dated
June 24, 2015, by and between Ann Arbor Commence Center, LLC, a Michigan limited liability company as Landlord, ZoMedica
Pharmaceuticals, Inc., a Delaware corporation as Tenant and GERALD SOLENSKY, individually as Guarantor(s) for Leased
Premises commonly known as 3928 Varsity, City of Ann Arbor, County of Washtenaw, State of Michigan.

 

As an inducement to Landlord to lease the Leased
Premises to Tenant, and for other valuable consideration, the receipt of which is hereby acknowledged, and because the Guarantor(s)
have determined that executing and delivering this Guaranty is in the Guarantor(s)’ best interest and to the financial benefit
of the Guarantor(s), the Guarantor(s) hereby irrevocably and unconditionally, jointly and severally, guarantee to Landlord, its
successors and assigns, to pay all Base Rent and all Additional Rent and perform and execute all covenants on the part of Tenant
under this Lease for the period of Initial Term, any future extensions thereof and any Hold-Over Rent. If any event of default
occurs, Guarantor(s) shall pay to Landlord all amounts that may be due under this Lease, all damages that may occur including attorney
fees and fully satisfy the conditions of this Lease without requiring notice or proof of demand being made. This is a primary and
unconditional guaranty of payment (and not of collection) and performance. Upon the occurrence of an Event of Default, Landlord
may make demand directly upon Guarantor for the performance and payment of the above without making demand upon, or pursuing or
exhausting any remedy, or instituting proceedings against Tenant, or against any security held by Landlord. No amendment, modification,
extension or renewal of the foregoing Lease nor any extension of time for performance of any covenant therein contained, shall
release the undersigned from liability hereunder. The obligations of the undersigned hereunder shall remain fully binding although
Landlord may have waived one or more defaults by Tenant, extended the time of performance by Tenant, modified or amended this Lease,
released, returned or misapplied other collateral given later as additional security (including other guaranties) or released Tenant
from its performance of the obligations under this Lease. Guarantor hereby consents to the Landlord or the Landlord’s agent
obtaining a periodic credit report on the undersigned as they deem necessary.

 

Guarantor further waives:

(A)  Any right
of subrogation to the rights of Landlord against Tenant, until all sums due Landlord are paid in full;

(B)  Any set-offs
or counterclaims against Landlord which would otherwise impair Landlord’s rights against Guarantor;

(C)  Any notice
or demand, regarding any action that Landlord takes regarding Tenant, anyone else, any collateral, or any indebtedness, which
the Guarantor might be entitled to by law or under any other agreement; and

(D)  Any requirement
of diligence on the part of anyone.

 

     

     

    

Landlord’s actions or omissions to act
with regard to any and all security shall be taken solely for the benefit of Landlord and Landlord shall not be obligated in any
way to act for the benefit of Guarantor in any action taken in connection with any security, nor shall Landlord be liable to Guarantor
for any such action or for any omission to act.

 

This Guaranty shall be binding upon the undersigned
and his heirs, successors, executors, representatives and assigns.

 

IN WITNESS WHEREOF, the undersigned does hereunto
set his hand and seal this   19   day of    June  , 2015.

 

	 	 	GUARANTOR(S):
	 	 	 
	 	 	/s/ Gerald Solensky Jr.
	 	 	Gerald Solensky Jr.
	 	 	 
	 	 	Address (Residence):  	 
	 	 	 	 
	 	 	 	 
	 	 	Social Security Number:Exhibit 10.10

 

LEASE SUMMARY 

 

When used in this Lease, the following terms shall have the indicated
meanings:

 

	 	A.	Effective Date:	August 23, 2016
	 	 	 	 
	 	B.	Landlord: 	Wickfield Phoenix LLC, a Michigan limited liability
company
	 	 	 	 
	 	C.	Landlord’s Notice Address:  	Wickfield Phoenix LLC
	 	 	 	c/o Wickfield Properties LLC
	 	 	 	230 Huronview Blvd.
	 	 	 	Ann Arbor, MI 48103
	 	 	 	(734) 369-2100
	 	 	 	 
	 	D.	Tenant:	Zomedica Pharmaceuticals,
Inc.,
	 	 	 	a Delaware corporation
	 	 	 	 
	 	E.	Tenant’s Notice Address: 	100 Phoenix Dr., Suite
190
	 	 	 	Ann Arbor, MI 48108
	 	 	 	Attn: Gerald Solensky
	 	 	 	 
	 	F. 	Premises: Seven thousand eight hundred eighty-eight (7,888)
rentable square feet of office space, including common area load, on the third floor of the West Building, which space is designated
as Suite No. 190 outlined on Exhibit A attached hereto and made a part hereof.
	 	 	 
	 	G. 	Building: The building commonly known as The Wickfield Center,
West Tower, located at 100 Phoenix Drive in City of Ann Arbor, County of Washtenaw, State of Michigan.
	 	 	 
	 	H. 	Term: A period of sixty-two (62) months commencing on the
Lease Commencement Date, as may be extended pursuant to the terms of Section 5 hereof.
	 	 	 
	 	I. 	Anticipated Occupancy Date: January 1, 2017; however, if
the space is ready for occupancy sooner Tenant will be allowed to move in at that time at no additional charge to Tenant.
	 	 	 
	 	J.	Lease Commencement Date: January 1, 2017, except as otherwise
modified subject to Section 5(a) herein.
	 	 	 
	 	K.	Lease End Date: February 28, 2022, subject to Section 5(a)
herein.
	 	 	 
	 	L.	Base Annual Rent: Base Annual Rent
for the initial Term of this lease shall be $801,972.57 in lawful money of the United States. Tenant shall pay Rent
to Landlord in monthly installments as follows: 

 

 

     

     

    

 

	 	Term	$/SQ.FT	Monthly	Annually 	 
	 	 	7,888	 	 	 
	 	(1) Months 0-2	$0.00	$0.00	$0.00	 
	 	(1) Months 3-14	$19.15	$12,587.93	$151,055.20	 
	 	(2) Months 15-26	$19.72	$12,965.57	$155,586.86	 
	 	(3) Months 27-38	$20.32	$13,354.54	$160,254.46	 
	 	(4) Months 39-50	$20.93	$13,755.17	$165,062.10	 
	 	(5) Months 51-62	$21.55	$14,167.83	$170,013.96	 
	 	 TOTAL BASE RENT	 	 	$801,972.57	 

 

 

	 	 	Payments shall be made to Landlord, or its authorized agent, at 230 Huronview Blvd., Ann Arbor, MI 48103,
or at such other place as Landlord may from time to time designate.
	 	 	 	 
	 	M.	Tenant’s Proportionate Share: Two and 41/100 percent
(2.41%). Tenant’s Proportionate Share is calculated by dividing the total rentable square footage in the Premises by the
Building’s total rentable square footage.
	 	 	 
	 	N.	Landlord’s Broker: Colliers International/Jim Chaconas
	 	 	 
	 	O.	Lease Month: Each calendar month period beginning on the
Lease Commencement Date, and each successive calendar month thereafter.
	 	 	 
	 	P.	Tenant’s Broker: Colliers International
	 	 	 
	 	Q.	List of Exhibits:
	 	 	 	Exhibit A – Floor Plan
	 	 	 	Exhibit B – Tenant Space Finish Work
	 	 	 	Exhibit C – Rules and Regulations
	 	 	 	Exhibit D – Signage Diagram
	 	 	 	 

 

     

     

    

LEASE AGREEMENT

 

THIS LEASE AGREEMENT (“Lease”)
is made as of the Effective Date by and between Landlord and Tenant.

 

WITNESSETH:

 

1.     
Premises.  For and in consideration of the covenants and agreements hereinafter set forth and the rent hereinafter
specifically reserved, Landlord does hereby lease unto Tenant, and Tenant does hereby lease from Landlord the Premises in the
Building. Tenant shall also have the non-exclusive right during the Term to use the Common Areas of the Building and the land
on which the Building is situated (the “Land”). As used herein, “Common Areas” shall mean all
portions of the Building and the Land intended for the use by two or more occupants of such Building or Land or their
visitors, including without limitation all sidewalks, lobbies, stairways, corridors, passageways, atria, doors, doorways,
elevators, common restrooms, loading areas, and all other public parts of such Building. Landlord hereby represents and
warrants that, as of the Effective Date, the base Building systems serving the Demised Premises are in good working
order.

 

2.     
Term. This Lease shall continue in force during the Term. Should the Lease Commencement Date fall on a date other than the
first day of a month, Tenant shall occupy the Premises on the “Occupancy Date” and the Lease Commencement Date shall
be deemed to be the first day of the following month. Tenant shall occupy the Demised Premises on the terms and conditions contained
herein, except that the Base Annual Rent for the partial first month of occupancy shall be prorated based on the number of days
following the Occupancy Date and preceding the Lease Commencement Date.

 

3.     
Rent. 

 

		a.	Base Rent. Commencing on the Lease Commencement Date, Tenant shall pay to Landlord the Base
Annual Rent, except there shall be not Annual Base Rent payment due for the first two months of the Least Term. Said Base Annual
Rent shall be paid in twelve equal monthly installments on the first (1st) day of each and every month during the Term, with appropriate
proration for the first and last months.

 

		b.	Additional Rent-Utilities: Tenant shall be responsible for its Proportionate Share of Building
electric, gas, water/sewer-storm water runoff consumption and waste removal services. The amount of Tenant’s share shall
be prorated such that Tenant shall pay for a percentage of utilities that is equivalent to the portion of the Building that it
occupies as adjusted by Landlord’s reasonable estimate of the utilities expense had one hundred (100%) of the Building been
furnished said services. The obligation of the Tenant to pay for such costs shall commence as of the Possession Date. If the Landlord
is billed for any utility costs subsequent to the Possession Date of this Lease the Tenant agrees to reimburse the Landlord for
such costs upon presentation by Landlord of an accounting of the costs incurred.

 

		c.	Other. Tenant shall be responsible for obtaining and paying for all other utilities and
services for their space including phone, internet, cable television, and in-suite janitorial services. Landlord agrees to provide
access to the Building’s data distribution closet or other areas of the Building necessary to connect Tenant’s telecommunications
equipment including the roof for possible IT equipment – exact location to be mutually agreed upon.

 

     

     

    

4.     
Use. The Premises are to be used and occupied by Tenant for the operation of an office and other ancillary uses typically associated
with office use and for no other purpose without the prior written consent of Landlord. No activity shall be conducted on the Premises
that does not comply with local laws, ordinances, and regulations. Tenant agrees to abide by and adhere to the Landlord Rules and
Regulations as set forth on Exhibit C attached hereto. Landlord hereby represents and warrants to Tenant that, as of the Effective
Date, the Premises (in its "as-is" condition as of the Effective Date), the common areas of the Building and the base
Building systems serving the Premises comply with applicable law.

 

Tenant shall have access to the Premises
twenty-four (24) hours per day, seven (7) days a week, but the parties acknowledge and agree that the Premises will typically be
occupied between the hours of 7am to 7pm Monday through Friday and 8am to 12pm on Saturday (the “Normal Business Hours”).
Should Tenant desire to operate its business for any period of time in excess of Normal Business Hours, on a repetitive, regular
or continuous basis (“Extended Hours”), Tenant shall provide written notice to Landlord and the Rent shall be
adjusted to reflect a reasonable additional charge for electricity and HVAC for the applicable period, to be mutually agreed on
by Landlord and Tenant.

 

5.     
Construction of Leased Premises.

 

		a.	Promptly following the Effective Date, Landlord, on a turnkey basis,
shall construct the Tenant Improvements (defined below) in accordance with the Floor Plan (Exhibit A), and the “Tenant Space
Finish Work” as set forth in Exhibit B (Exhibits A and B shall be referred to collectively as the “Tenant
Improvements” or “Final Plans”). Landlord and Tenant agree to work together reasonably and in good
faith to agree upon the full scope of the Tenant Improvements, which will be reflected in detailed construction plans. Landlord
shall pay for the cost of the Suite 190 Tenant Improvements in an amount not to exceed $25.00/rsf ($197,200.00) (the “Allowance”).
Tenant shall be solely responsible for the amount by which the Costs exceed the Allowance (“Excess Allowance”), however
to extent Landlord agrees such Excess Allowance may be amortized into the Base Annual Rent. Any
additional costs incurred or time delays as a result of Tenant’s deviation from the plans and finishes set forth on Exhibits
A and B, once finalized shall require a written change order signed by Tenant (“Tenant Change Orders”), and
shall be the sole responsibility of Tenant. Except with respect to delays caused by Tenant’s neglect, wrongful actions, or
wrongful omissions, or Tenant Change Orders or other Tenant caused delays, the Tenant Improvements shall be completed on or prior
to January 1, 2017. Within five (5) business days following substantial completion of the Tenant Improvements, Landlord and Tenant
shall cooperate to execute a mutually agreeable “punch list” identifying any incomplete and unacceptable items in the
Tenant Improvements. No later than thirty (30) days after the parties’ execution of said “punch list”, Landlord
shall complete all items identified on said “punch list”. Landlord and Tenant acknowledge that the Tenant Improvement
plans attached as Exhibits A and B reflect the parties’ substantial agreement regarding the work to be performed in
the Premises, but that certain additional work may need to be performed or adjustments may need to be made to the proposed Tenant
Improvements. Landlord and Tenant agree to work together in good faith to mutually and reasonably agree upon any changes required
to the Tenant Improvements.

 

Notwithstanding the foregoing, if Landlord, for any reason whatsoever other
than Tenant caused delays, cannot deliver possession of the Premises to Tenant on or before the Anticipated Occupancy Date, this
Lease shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss resulting therefrom, and the Lease expiration
date of the Lease shall not be affected, but from and after the Lease Commencement Date, Tenant shall receive a credit of one (1)
free day of rent for each day of delay after the Lease Commencement Date until the Occupancy Date.

 

     

     

    

 

		b.	Notwithstanding anything herein to the contrary, if Landlord’s failure to deliver the Premises
to Tenant on the Lease Commencement Date with the Tenant Improvements substantially completed is substantially the result of Landlord’s
neglect, negligence or willful misconduct, in addition to any rights or remedies specifically set forth herein, Tenant shall retain
all of its rights and remedies at law and in equity.

 

6.     
Late Charges. Rent is payable on the first day of every month. Any payment received by the Landlord from the Tenant after the
fifth (5th) day of the month is subject to a five percent (5%) late charge or amount allowable by pertinent Michigan law, whichever
is less.

 

7.     
Parking. Tenant shall have access to on premises parking spaces located in the common area parking.

 

8.     
Condition of Premises; alterations; maintenance; repairs. 

 

		a.	Tenant shall maintain the Premises in a clean and sanitary condition and shall surrender the Premises
in the same condition as existed at the commencement of this Lease, subject to ordinary wear and tear and damage by the elements.
Tenant shall not make any alterations, additions, or improvements to the Premises, other than Permitted Alterations (hereinafter
defined), without the prior written consent of Landlord, which will not be unreasonably withheld, conditioned or delayed. A “Permitted
Alteration” shall mean any alteration in the Premises that does not (1) affect the structure of the Building; (2) adversely
affect the electrical, plumbing, mechanical or other systems of the Building or the functioning thereof; (3) interfere with the
operation of the Building or the provision of services or utilities to other tenants in the Building; or (4) cost more than Twenty-Five
Thousand Dollars ($25,000.00) in the aggregate over a period of six (6) months.

 

		b.	Tenant agrees to be responsible for any damage caused to the Premises by its use, and further agrees
to promptly report to Landlord any damage caused to or discovered in the Premises. If Tenant shall fail to make any repairs or
to perform any maintenance which it is obligated to make or perform under this Lease within ten (10) days after receipt of written
notice from Landlord to do so, or in the event of a situation that poses an imminent threat of bodily harm to person or property
(an “Emergency”), Landlord may enter the Premises and make such repairs as are reasonably necessary to restore
the Premises to their original condition (wear and tear and damage by the elements excepted), and Tenant shall reimburse the Landlord
for the reasonable and actual out-of-pocket cost of any such repairs for which it is responsible under this Lease. However, if
the nature of any Landlord requested visit is not an emergency, the Tenant may request that Landlord come at an alternative time,
including after hours if necessary.

 

		c.	Landlord shall make all necessary repairs to the common areas (including any common area stairs)
and structure (including but not limited to the roof, foundation, skylights, penetrations, etc.) of the Building, the parking facility
serving the Building and the mechanical, electrical, plumbing, heating and air conditioning systems therein, except with respect
to any items installed or constructed by Tenant and except where the repair has been made necessary by misuse or neglect by Tenant
or Tenant’s agents, servants, visitors or licensees. Landlord shall undertake its maintenance and repair obligations pursuant
to the terms of this Section 9(c) in a manner which is comparable to the manner in which reasonably prudent owners of first-class
office buildings in the Ann Arbor, Michigan submarket of comparable age, size, quality and location to the Building undertake similar
maintenance obligations. Landlord will use commercially reasonable efforts to make such repairs in a timely fashion.

 

     

     

    

9.     
Signs. Landlord reserves exclusive right to the exterior of the Building, and Lessee shall not construct, place or paint any
sign or awning or improvement or apparatus on the exterior of the Building without prior written consent of Landlord. Any signs
placed in the windows or doors of the Premises by Tenant shall be approved in writing by Landlord, such approval not to be unreasonably
withheld, conditioned or delayed, and shall be in keeping with the character and décor of the Building as a whole. Landlord
shall provide (at Landlord’s expense) building directory signage in the lobby identifying Tenant and the Premises, which
signage shall be consistent with the other Building directory signage installed by Landlord. All other signage shall be at Tenant’s
sole cost and expense. Tenant shall remove any sign installed by it upon termination or expiration of this Lease. Notwithstanding
anything herein to the contrary, Tenant shall be entitled to install suite signage at the entrance of the Premises in accordance
with diagram attached hereto as Exhibit D. Tenant will also have it proportional (when combined with all of its other spaces
it occupies in the building) allocation of monument signage.

 

10.     Services.
Landlord will provide the following services:

 

		a.	Tenant shall have access to the Building and the Premises twenty-four (24) hours per day, seven
(7) days a week.
	 	 	 

		b.	Landlord will provide Tenant with one hundred twenty-five (125) security access cards at no charge.
	 	 	 

		c.	Landlord will ensure that a least one (1) elevator is operational during Normal Business Hours.
	 	 	 

		d.	Landlord will ensure that a limited service market/food concession shall be operational on or before
the Lease Commencement Date and that a full service dining facility service shall open by January 30, 2015. Landlord and Tenant
will work together to help ensure that “limited service market/food concession” is ample to meet the demands of Tenant’s
employees.
	 	 	 

		e.	Heat, ventilation and air conditioning (“HVAC”) when necessary to provide a
seasonable temperature (subject to governmental regulations) for normal occupancy and use of the Premises during Normal Business
Hours. Landlord shall provide the foregoing HVAC service in a manner which is comparable to the manner in which reasonably prudent
owners of first-class office buildings in the Ann Arbor, Michigan submarket of comparable age, size, quality and location to the
Building provide such service. Landlord agrees to construct the space updating HVAC equipment and distribution in a way that ensure
a temperature range of 72 degrees plus or minus 3 degrees year round.
	 	 	 

		f.	Electricity for building standard lighting twenty-four (24) hours per day, seven (7) days a week.
	 	 	 

		g.	Electricity for operation of desk-top computers, printers, fax machines, copy machines, telephone
equipment, non-standard Building lighting, and other energy consuming devices.
	 	 	 

		h.	Landlord shall perform all light tube or bulb replacements at Tenant’s reasonable request,
provided, however, that the cost of replacing non-Building standard or specialized lights shall be replaced at Tenant’s sole
cost and expense.
	 	 	 

		i.	Rest room facilities and necessary lavatory supplies, including hot and cold running water, at
those points of supply provided for the general use of other tenants in the Building, and routine maintenance, painting, and electrical
lighting service for all public areas and special service areas of the Building in the manner and to the extent that is standard
for first-class office buildings in the Ann Arbor, Michigan area.
	 	 	 
	

     

     

    

	 	 	 

		j.	Janitorial services for the Common Areas of the Building in a manner consistent with the standard
for professionally managed office buildings in the Ann Arbor, Michigan area.
	 	 	 

		k.	Daily removal of trash and other waste from the Building in a manner consistent with the standard
for first-class office buildings in the Ann Arbor, Michigan area.
	 	 	 

		l.	Further, Tenant and its employees shall have access to all general access amenities in the Building
provided by Landlord from time to time for various tenants, including, if applicable, access to the rooftop, loading dock, fitness
center, cafeteria, etc.
	 	 	 

		m.	Adhering to a property management protocol that is consistent with the standard for professionally
managed office buildings in the Ann Arbor, Michigan area.
	 	 	 

11.     Damage to
Premises. If the Premises are damaged by fire or other casualty, then Landlord shall repair the Premises as speedily as possible,
and the rent shall be abated in whole or in part, according to the portion of the Premises which is rendered unusable. If less
that the entire space is rendered unusable but the remaining portion is obviously not suited to meet Tenant’s operations
needs, then the entire space will be deemed unusable. If the Premises cannot be repaired within one hundred eighty days (180),
then Tenant may terminate this Lease by giving notice to Landlord within ten (10) days after the Landlord has notified Tenant of
the time required to repair the Premises. Landlord shall, in its sole judgment, reasonably exercised, determine the length of time
required to repair the Premises, and shall notify Tenant of such determination within ten (10) days after the occurrence of the
fire or other casualty. Notwithstanding the foregoing, if the Premises are so damaged by fire or other casualty that demolition
or substantial reconstruction is required, then Landlord may terminate this Lease by giving notice to Tenant within thirty (30)
days after the date of such damage. If Landlord commences to restore the Premises in accordance with the terms of this Section
12 and Landlord fails to substantially complete the restoration work which Landlord is obligated to perform hereunder within one
hundred eighty (180) days from the date of the damage, then Tenant shall have the right, during the thirty (30) day period immediately
following the expiration of such one hundred eighty (180) day period, to terminate this Lease by delivering a termination notice
to Landlord, specifying an effective date, not less than ten (10) nor more than sixty (60) days after the giving of such termination
notice, on which the Term shall expire as fully and completely as if such date were the date originally fixed for the expiration
of the Term.

 

12.     Eminent
Domain. If any part of the Premises is taken by public authority under the power of eminent domain then this Lease shall terminate
on the part so taken on the date possession of the Premises is required for public use, and any pre-paid rent shall be refunded
to the Tenant. If less that the entire space is rendered unusable but the remaining portion is obviously not suited to meet Tenant’s
operations needs, then the entire space will be deemed unusable. In such a circumstance, Landlord and Tenant shall also each have
the right to terminate this Lease for any remaining portion of the Premises upon written notice to the other, which notice shall
be delivered within thirty (30) days following the date notice is received of such taking (provided, however, that Landlord shall
only have the right to terminate this Lease if it terminates the leases of all office tenants of the Building which are terminable
by Landlord in such event). If neither party terminates this Lease, Landlord shall make all necessary repairs to the Premises and
the Building and the improvements in which the Premises are located to render and restore it to a complete architectural unit,
and Tenant shall continue in possession of the portion of the Premises not taken under the power of eminent domain, under the terms
and conditions provided in this Lease, except that the monthly rent shall be reduced in direct proportion to the amount of the
Premises so taken. All damages awarded for such taking shall belong to and shall be property of the Landlord, whether such damages
be awarded as compensation for diminution in value of the Leasehold or to the fee of the Premises. Notwithstanding the foregoing,
Tenant may go to all legal proceedings and assert any claim that it may have against the condemning authority for compensation
for any of Tenant's personal property and trade fixtures and for any relocation expense compensable by statute, and receive such
award therefor as may be allowed in the condemnation proceedings, if such award shall be made in addition to and stated separately
from the award made for the Land and the Building or the part thereof so taken.

 

     

     

    

13.     Liability

 

		a.	Indemnity. To the maximum extent this Lease may be made effective according to law, Tenant
and Landlord agree to indemnify and save harmless each other from and against all claims of whatever nature arising from any act,
omission, or negligence of the other party, or its contractors, licensees, invitees, agents, servants, or employees. This indemnity
and hold harmless provision shall include indemnity against all costs, expense, and liabilities incurred in or in connection with
any such claim or proceeding brought thereon, and the defense thereof.
	 	 	 

		b.	Tenant's Risk. To the maximum extent this Lease may be made effective according to
                                                                law, Tenant agrees to use and occupy the Premises and to use such other portions of the Building as Tenant is given the
                                                                right to use at Tenant's own risk; and Landlord shall have no responsibility or liability for any loss of or damage to
                                                                fixtures or other personal property of Tenant or Tenant's agents, employees, independent contractors, or invitees for any
                                                                other reason than the intentionally wrongful or negligent acts or omissions of Landlord or Landlord's
                                                                agents, employees, independent contractors, or invitees. The provisions of this section shall be applicable from and
                                                                after the Effective Date and until the end of the Term, and during such further period as Tenant may use or be in
                                                                possession of any part of the Premises.
	 	 	 

		c.	Injury Caused by Third Parties. To the maximum extent this lease may be made effective
                                                                according to the law, Tenant agrees that Landlord shall not be responsible or liable to Tenant, or those claiming by,
                                                                through or under Tenant, for any loss or damage that may be occasioned by or through the acts or omissions of persons
                                                                occupying adjoining Premises or any part of the Premises adjacent to or connecting with the Premises or any part of the
                                                                building, or otherwise or for any loss or damage resulting to Tenant or those claiming by, through, or under Tenant, or
                                                                its or their property, from breaking, bursting, stopping, or leaking of electric cables and wires, water, gas, sewer,
                                                                or steam pipes, from roof leaks, fire, or any other like causes unless caused by Landlord's negligence or willful
                                                                misconduct, provided, however, that Landlord agrees to use to commercially reasonable and good faith efforts to enforce the
                                                                terms of any other tenants lease against such tenant.
	 	 	 

		d.	Utilities. Landlord shall not be liable to Tenant for damages or otherwise (a) if any utility
shall become unavailable from any public utility company or authority, or any other person or entity (including Landlord) supplying
or distributing such utility or (b) for any interruption in a utility service (including, without limitation, heating, ventilation,
air conditioning) caused by the making of any necessary repairs or improvements or by any cause whatsoever nor shall the same constitute
a termination of this Lease or an eviction of Tenant unless a result of Landlord’s negligence or bad acts. Notwithstanding
the foregoing, Landlord may not elect to intentionally discontinue a utility that is provided by Landlord without Tenant’s
prior written consent. However, if for any reason the utilities are shut off for more 30 consecutive days then Tenant may cancel
this lease.

 

     

     

    

14.     Insurance.
Landlord will obtain and maintain, at all times until termination of this Lease and surrender of the Premises to Landlord,
special cause of loss form, or its equivalent, property insurance including equipment breakdown coverage, covering the Building
and the Premises, including common areas, and all other improvements to the Building made by Landlord but specifically excluding
Tenant betterments installed by Tenant and providing the insurance protection to Landlord described in this Lease, which insurance
shall be in an amount not less than one hundred percent (100%) of the full replacement cost of the foregoing. Landlord will retain
in its possession the original policy and all endorsements, renewal certificates and new policies, if any issued during the term
but will provide Tenant, upon request, with copies of said policy or certificates of self-insurance. Landlord will also maintain
commercial general liability insurance coverage against claims for, or arising out of, bodily injury, death or property damage
occurring in, on or about the Building and the Premises or property in, on or about the street, sidewalks or properties adjacent
to the Building and the Premises. The policy shall carry limits, including coverage under umbrella policies of not less than $500,000
per occurrence and $1,000,000 aggregate.

 

In addition to the above, and not by the
way of substitution thereof, Tenant shall obtain, at its own expense, comprehensive general liability insurance with both Landlord
and Wickfield Properties LLC named as additionally insured, against claims for, or arising out of, bodily injury, death or property
damage occurring on the Premises and shall have limits of coverage of $500,000 per occurrence and $1,000,000 annual aggregate.
Tenant will deliver a letter to Landlord confirming Tenant's required insurance coverage upon written request from Landlord.

 

15.     Bankruptcy and Insolvency. If the leasehold estate hereby created shall be taken in execution, or by other process of
law, or if Tenant shall be declared bankrupt or insolvent, according to law, or any receiver be appointed for the
business and property of Tenant, or if any assignment shall be made of the Tenant's property for the benefit of
creditors, then in such event this Lease may be canceled at the option of the Landlord. If the Landlord chooses to cancel
this Lease, Landlord must give notice to Tenant in writing in accordance with Section 19 contained herein.

 

16.     Subordination of Lease. Tenant agrees that Landlord may subordinate this Lease to its present or any subsequent mortgage
on the leased Premises, provided that such subordination shall not interfere with Tenant's continued occupancy of the
Premises pursuant to the term of this Lease and provided further that any lender with a mortgage on the Premises agrees
to deliver to Tenant a subordination, non-disturbance and attornment agreement in the lender’s standard and reasonable
form with reasonable approval by Tenant. Tenant agrees to execute any and all instruments as may be reasonably requested from
time to time by Landlord in order to evidence the above described subordination of this Lease to any mortgage. Tenant agrees
to execute, acknowledge and deliver to Landlord within fourteen (14) days following a written request from Landlord a
statement in writing certifying this lease is unmodified and in full force and effect (or if there have been modifications,
that the same is in full force and effect as modified, and stating said modifications), and the dates to which the rent and
other charges have been paid in advance, if any, it being intended that any such statement delivered pursuant to this
paragraph may be relied upon by any prospective purchaser, mortgagee, or assignee.

 

     

     

    

17.     Landlord's Remedies.

 

		a.   	In the event Tenant shall fail to pay the Rent or any other obligation involving the payment of
money reserved herein when due, Landlord shall give Tenant written notice of such default, and if Tenant shall fail to cure such
default within thirty (30) days after receipt of such notice, Landlord shall, in addition to its other remedies provided by law
and in this Lease, have the remedies set forth in subparagraph (c) below.
	 	 	 

		b.   	If Tenant shall be in default in performing any of the terms of this Lease other than the
                                                                               payment of Rent or any obligation involving the payment of money, Landlord shall give Tenant written notice of such
                                                                               default, and if Tenant shall fail to cure such default within forty-five (45) days after receipt of such notice (or if
                                                                               the default is of such a character as to require more than forty-five (45) days to cure, such reasonable additional time
                                                                               as shall be required to permit Tenant to cure the default, provided that Tenant promptly commenced and diligently pursued the
                                                                               cure of such default), then Landlord may (at its option and in addition to other legal remedies) cure such default for the
                                                                               account of Tenant and be reimbursed by Tenant for the reasonable and actual costs of such care. Such reimbursement shall be
                                                                               Additional Rent for all purposes hereunder, including subparagraph (a) above and shall be paid by Tenant with the next
                                                                               monthly installment of Rent.
	 	 	 

		c.   	If any Rent or any other obligation involving the payment of money shall be due and unpaid or Tenant
shall be in default upon any of the terms of this Lease, and such default has not been cured after notice and within the time provided
in subparagraphs (a) and (b) above, then Landlord may seek to take possession pursuant to legal proceedings or any notice provided
for by law. Landlord may either terminate this Lease or, without terminating this Lease, re-let the Premises or any part thereof
on such terms and conditions as Landlord shall deem reasonably advisable. Any payments as a result of such re-letting shall be
applied as follows: first, to the payment of any indebtedness of Tenant to Landlord other than Rent due hereunder; second, to the
payment of any reasonable costs incurred by Landlord in obtaining possession and re-letting the Premises, including, without limitation,
legal fees, brokerage commissions and the cost of any reasonable alterations, and repairs to the Premises; third, to the payment
of Rent due and unpaid hereunder; and the residue, if any, shall be held by Landlord and applied in payment of future Rent as the
same may become due and payable hereunder. Tenant shall be liable to Landlord for any deficiency. Both parties shall use their
best efforts to mitigate their damages under this Lease.
	 	 	 

		d.   	All rights and remedies of Landlord hereunder shall be cumulative and none shall be exclusive of
any other rights and remedies allowed by law.

 

18.     Notices. All notices required to be given hereunder by either party to the other shall be given by personal delivery, sent
by a reputable private carrier of overnight mail or by certified or registered mail, return receipt requested. In the event notice
is given by personal delivery, notice shall be deemed given when delivered; if notice is given by private carrier or overnight
mail it shall be deemed made on the day after such sending; or if by certified or registered mail, it shall be deemed given when
deposited into the United States mail, postage prepaid. Notices to the respective parties shall be to the addresses set forth in
the Lease Summary or such other address as notified to the other parties.

 

     

     

    

19.     Assignment.
The Tenant covenants not to assign or transfer this Lease or mortgage the same or sublet said Premises or any part thereof without
the prior written consent of the Landlord which consent shall not be unreasonably withheld, conditioned or delayed. Any assignment,
transfer, hypothecation, mortgage or subletting without said written prior consent shall give the Landlord the right to terminate
this Lease and to re-enter and repossess the leased Premises, except that the Tenant may withdraw request to assign or sublease,
in which case Landlord shall not have the right to terminate this Lease or repossess the Premises. Notwithstanding the foregoing,
Tenant shall have the right to assign the Lease or sublease the Premises, or a portion thereof, to any parent, subsidiary or affiliate
or any entity resulting from a merger with tenant or the sale of all substantially all of Tenant's assets.

 

20.     Successors. This Lease shall
be binding on and inure to the benefit of the parties and their successors.

 

21.     Severability.
The unenforceability, invalidity, or illegality of any provision of this Lease shall not render the other provisions unenforceable,
illegal, or invalid.

 

22.     Brokers.
Landlord shall be responsible for all fees associated with this transaction to Colliers International. Outside of the above, Landlord
and Tenant acknowledge that Tenant’s Broker is the agent of Tenant, with all related responsibilities to Tenant (not Landlord).
Furthermore, Landlord and Tenant acknowledge that Landlord’s Broker is the agent of Landlord, with all related responsibilities
to Landlord (not Tenant). Tenant, Landlord and Brokers acknowledge that these brokerage relationships, if required by rule or
regulation, were disclosed to Landlord or Tenant or their respective agents no later than the first showing, at first contact
or immediately on the occurrence of any change to the relationship. Tenant and Landlord shall mutually indemnify and hold each
other harmless from and against any claims for brokerage or other commissions asserted by any broker, agent or finder engaged
by either party except as herein disclosed.

 

23.     Law of Michigan.
This Lease shall be construed and interpreted in accordance with the laws of the State of Michigan, without reference to its
conflicts of laws principles. Landlord, its successors and assigns, consents to the jurisdiction of the appropriate courts of the
State of Michigan with respect to any other claims arising under this Agreement.

 

24.     Environmental Matters. 

 

		a.	Landlord represents and warrants to Tenant that (a) Landlord has no notice or knowledge of any
violation of any laws or regulations affecting the Land or the Premises itself, including any laws, ordinances, or regulations
relating to the soil, surface water and ground water of or on the property; and to Landlord's best knowledge the Land and Premises
are free of and do not contain any pollution, contamination, or other environmental hazards which shall include, but not be limited
to, those identified under federal, state, or local statute, ordinance, or regulation; and (b) Landlord has not received any notice
of or have any knowledge of any existing or threatened condemnation or other litigation, administrative proceeding, or action of
any kind involving the Land or the Premises.
	 	 	 

		b.	Both parties shall comply with all applicable laws and regulations relating to the Premises, including
environmental laws and regulations. Each party shall give immediate notice to the other of the release or the threatened release
of any hazardous material or any violation of any applicable environmental law or regulation at or affecting the Land or the Premises,
and such party shall promptly undertake all obligations imposed upon it under applicable environmental law or regulation as a result
of such event.

 

     

     

    

25.     Quiet
Enjoyment. So long as Tenant pays the rent and otherwise complies with this Lease, Tenant's possession of the Premises will
not be disturbed by Landlord, its successors or assigns, and Tenant shall be entitled to quiet enjoyment of the Premises.

 

26.     Security Deposit. The Landlord herewith acknowledges the receipt of $0.00 (the “Security Deposit”).

 

27.     Amendments. Any amendments to this Lease must be in writing and signed by both parties to the Lease.

 

28.     Entire Agreement. This Lease, together with the Lease Summary and all Exhibits attached hereto, contains and embodies the entire
agreement of the parties hereto, and no representations, inducements or agreements, oral or otherwise, between the parties not
contained and embodied in this Lease shall be of any force or effect.

 

29.     Counterparts. This Lease may be executed in two (2) or more counterpart copies, all of which counterparts shall have the same
force and effect as if all parties hereto had executed a single copy of this Lease.

 

30.     Option
to Renew. Tenant shall have two (2) five (5) year renewal options subject to a three percent (3.0%) annual increase over the
prior year’s Base Rent. All other terms and conditions shall remain the same. Tenant shall send the Landlord written notice
six months prior to expiration of the Term or this Option to Renew shall be automatically become null and void.

 

 

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

 

     

     

    

IN WITNESS WHEREOF, the undersigned have caused
this Lease to be signed as of the Effective Date.

 

 LANDLORD:

 

WICKFIELD PHOENIX, LLC, a
Michigan limited liability company

 

	By:	/s/ Bradley J. Hayosh	 
	Name: 	Bradley J. Hayosh	 
	Its:	Authorized Agent	 
	 	 	 

 

 

TENANT:

 

Zomedica Pharmaceuticals, Inc., a Delaware corporation

 

	By:	/s/ Gerald Solensky Jr.	 
	Name: 	Gerald Solensky Jr.	 
	Its:	President	 
	 	 	 

 

 

 

 

S-1

 

Signature Page to Zomedica Suite 190 Lease

     

     

    

EXHIBIT A

 

 

FLOOR PLAN ATTACHED

 

 

 

    
Exhibit to Zomedica Suite 190 Lease

     

    

EXHIBIT B

 

TENANT SPACE FINISH WORK AND BUDGET

 

		1.	Basic Specifications: Floor plan in Exhibit A shall be constructed by the Landlord turnkey using building standard finishes
of similar quality to existing Suite 211:

 

		a.	Flooring: Commercial grade carpet and luxury vinyl tile per plan. IT server room (if required) to be antistatic VCT flooring.

		b.	Paint

		c.	New Ceiling, USG Radar Illusion

		d.	Parabolic lighting

 

		2.	Data and Telephony: Tenant responsible for all data and telephony. May involve equipment installation on the roof to link the
two spaces – location to be mutually agreed upon by Landlord and Tenant.
	 	 	 

		3.	Landlord will not provide low voltage cabling but will have junction boxes in the offices and cubicles. Office junction boxes
will e on wall opposite the door.
	 	 	 

		4.	Install key card entry system to be provided by landlord, card swipe, to match rest of the common entry and original space.

 

 

 

    
Exhibit to Zomedica Suite 190 Lease

     

    

EXHIBIT C

 

RULES AND REGULATIONS

 

 

		1.	The sidewalks, entrances, passages, courts, elevators, vestibules, stairways, corridors, or halls, shall not be obstructed
or encumbered by any Tenant or used for any purpose other than ingress or egress to and from the Premises.

 

		2.	Except as expressly permitted in the Lease or otherwise permitted by Landlord, no sign, picture, lettering, notice or advertisement
of any kind shall be painted or displayed on or from the windows, doors, roof, or outside walls of the structure in which the Premises
are located. All of Tenant's interior sign painting or lettering shall be done in a manner reasonably approved by Landlord, and
the cost thereof shall be paid by Tenant. In the event of the violation of the foregoing by any Tenant, Landlord may remove same
without any liability and may charge the reasonable expense incurred for such removal to Tenant (provided that Landlord first gives
Tenant notice and an opportunity to cure).

 

		3.	No curtains, blinds, shades, screens, awnings or other projections shall be attached to or hung in, or used in connection with
any window or door of the Premises or outside wall of the building without the prior written consent of Landlord, which consent
shall not be unreasonably withheld, conditioned or delayed. If curtains or venetian blinds are provided in the Premises, Tenant
shall use such care and diligence to protect them as may be required by Landlord.

 

		4.	Any carpeting cemented down shall be installed with a releasable adhesive.

 

		5.	The water and wash closets and other plumbing fixtures shall not be used for any purpose other than those for which they were
constructed and no sweepings, rubbish, rags, or other substances shall be thrown therein. All damages resulting from any misuse
of the fixtures by shall be borne by the Tenant who, or whose servants, employees, agents, visitors, licensees or invitees, shall
have caused the same. No person shall waste water by interfering or tampering with the faucets or otherwise.

 

		6.	No electric current shall be used by Tenant except that furnished or approved by Landlord.

 

		7.	Tenant shall not cause or permit unusual or objectionable odors to be produced upon or permeate from the Premises, including
duplicating or printing equipment or data processing equipment emitting noxious fumes. Tenant shall not unreasonably disturb any
neighboring structures or premises by the use of any unseemly or disturbing noise.

 

		8.	Tenant shall not throw anything out of the doors, windows, or down any passageways or elevator shafts. Except as permitted
pursuant to the terms of the Lease, no area outside of the Premises shall be used for storage at any time. All garbage, boxes,
and debris is to remain within the Premises during the course of normal business hours. All such items shall be clearly labeled
as garbage.

 

	9.	All loading, unloading, receiving or delivery of goods, supplies or disposal of garbage or refuse shall be made only through
entryways provided for such purposes and indicated by Landlord.
	 	 
	 	Tenant is not permitted to use
any part of the Premises for any manufacturing, for lodging or sleeping, gambling or for any immoral or illegal purpose. No intoxicating
beverages shall be sold in the Premises or the structure of which the Premises are a part without prior written consent of the
Landlord. However, if the nature of any Landlord requested visit is not an emergency, the Tenant may request that Landlord come
at an alternative time, including after hours if necessary.

 

    
Exhibit to Zomedica Suite 190 Lease

     

    

 

		10.	All safes or other heavy articles of Tenant shall be carried in or out of the Premises in a manner which will not interfere
with or cause damage to the Premises. Tenant shall be responsible for any damage to the Premises or others and injuries sustained
by any person whomsoever resulting from the use or moving of such articles in or out of the Premises, and shall make all repairs
and improvements required by Landlord or governmental authorities in connection with the use or moving of such articles.

 

		11.	Tenant shall not install or operate any steam or gas engine or boiler or carry on any mechanical business in the Premises,
or use oil, burning fluids, camphene or gasoline for heating or lighting, or for any other purpose. No article deemed extra hazardous
on account of fire or other dangerous properties, or any explosive, shall be brought into the Premises. This prohibits the use
of hot plates (cooking), space heaters, and only approved electric percolators shall be permitted.

 

		12.	Landlord will furnish Tenant with two keys for each lock on the doors of the Premises. Additional keys must be made at Tenant's
expense, but only by Landlord. No additional locks or bolts of any kind shall be placed upon any of the doors or windows by any
Tenant, nor shall any changes be made in existing locks or the mechanism thereof. Each tenant must, upon the termination of its
tenancy, restore to Landlord all keys of stores, offices and toilet rooms, either furnished to or otherwise procured by such Tenant
and in the event of the loss of any keys so furnished, such Tenant shall pay to the Landlord the cost thereof.

 

		13.	Tenant shall not use any advertising or communication which tends to impair the reputation of the Premises or its desirability
as a building for offices.

 

		14.	Canvassing, soliciting or peddling in the Premises is prohibited and the Tenant shall cooperate to prevent the same.

 

		15.	Wherever the word "Tenant" occurs in this exhibit, it is understood and agreed that it shall mean Tenant's employees,
agents, clerks, servants, invitees and visitors. Wherever the word "Landlord" occurs in this exhibit, it is understood
and agreed that it shall mean Landlord's employees, agents, clerks, servants, invitees and visitors.

 

		16.	Subject to the terms and conditions of the Lease, Landlord shall have the right to enter upon the Premises at all reasonable
hours for the purpose of inspecting the same and making any repairs and for any other reasonable purposes, provided that Landlord
gives Tenant reasonable prior notice, conducts such inspections during normal business hours (except in emergencies) and agrees
to be accompanied by an employee of Tenant at all times.

 

		17.	Tenant shall not place or permit to be placed, a load exceeding the floor load per square foot which such floor was designed
to carry and which is allowed by law.

 

		18.	Tenant assumes responsibility for protecting the Premises from thefts, robbery and pilferage. Tenant shall be responsible for
locking all doors.

 

		19.	Tenant shall not smoke in Premises or within 50 feet of Premises unless otherwise permitted by Landlord. Tenant shall smoke
outside only in areas designated for such purpose.

 

    
Exhibit to Zomedica Suite 190 Lease

     

    

EXHIBIT D

 

SIGNAGE

 

 

 

 

 

 

 

 

 

 

 

 

 

Exhibit to Zomedica Suite 190 Lease

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