Document:

Exhibit 10.18

 

EMPLOYMENT AGREEMENT FOR AMANDA GOURBAULT

 

THIS EMPLOYMENT
AGREEMENT (this “Agreement”) is entered into by and between CompoSecure, L.L.C. (the “Company”)
and Amanda Gourbault (the “Executive”) as of the date first written below.

 

WHEREAS, the Company
desires to employ the Executive as its Chief Revenue Officer and the Executive desires to serve in such capacity on behalf of the Company.

 

NOW, THEREFORE, in consideration
of the premises and of the mutual covenants and agreements hereinafter set forth, the Company and the Executive hereby agree as follows:

 

	1.	Emplovment.

 

(a)             Term.
The initial term of this Agreement shall begin on December 6, 2021, or such other date as determined by the Executive and the Company
(the actual date on which the Executive commences employment with the Company, the “Effective Date”), and shall continue
until the termination of the Executive's employment. The period commencing on the Effective Date and ending on the date on which the
term of this Agreement terminates is referred to herein as the “Term.” Executive's employment during the Term shall
be as an "at-will" employee; the Executive may resign her employment at any time, and the Company may terminate the Executive's
employment at any time, for any reason or no reason, subject to the provisions of this Agreement.

 

(b)             Duties.
During the Term, the Executive shall serve as the Chief Revenue Officer of the Company, with responsibility for driving sales and revenue
growth for the existing CompoSecure payment card business and the new Arculus business including 3-factor authentication and crypto cold
storage, and with such other duties, responsibilities and authority commensurate therewith, and shall report to the Chief Executive Officer
of the Company (the "CEO"). The Executive shall perform all duties and accept all responsibilities incident to such position
as may be reasonably assigned to the Executive by the CEO.

 

(c)             Restrictions
on Emplovment. The Executive has disclosed to the Company the terms of a collective bargaining agreement for the Steel Industries
(the “CBA”) and an employment contract applicable to her employment with her current employer that restrict her from
engaging in competitive employment, and certain other activities, for up to two years from the date her employment contract terminates.
The Executive and the Company intend that her employment with the Company will not violate the terms of the CBA or such employment contract,
to the extent legally enforceable; to that end, the Executive agrees to the terms and conditions set forth on Exhibit B hereto.
The Executive represents to the Company that the Executive is not subject to or a party to any other employment agreement, noncompetition
covenant, or other agreement that would be breached by, or prohibit the Executive from, executing this Agreement and performing fully
the Executive's duties and responsibilities hereunder.

 

(d)             Best
Efforts. During the Term, the Executive shall devote her best efforts and full time and attention to promote the business and affairs
of the Company and its affiliated entities, and shall be engaged in other business activities only to the extent that such activities
do not materially interfere or conflict with the Executive's obligations to the Company hereunder, including, without limitation, obligations
pursuant to Section 14 below. The foregoing shall not be construed as preventing the Executive from (1) serving on civic, educational,
philanthropic or charitable boards or committees, or, with the prior written consent of the CEO, in his sole discretion, on corporate
boards, and (2) managing personal investments, so long as such activities are permitted under the Company's code of conduct and employment
policies and do not violate the provisions of Section 14 below.

 

     

     

    

 

(e)             Principal
Place of Employment. Until such time as the Executive is legally able to live and work in the United States, the Executive shall
render her services from her home office in France, under an exclusive services arrangement among the Executive, the Company and GoGlobal,
or such other professional employer organization designated by the Company (GoGlobal or such other organization, the “PEO”).
Once the Executive is legally entitled to live and work in the United States, the Executive understands and agrees that her principal
place of employment will be in the Company's offices located in the Somerset, New Jersey metropolitan area, that she will be required
to relocate to the Somerset, New Jersey metropolitan area, and that the Executive will be required to travel for business in the course
of performing her duties for the Company. While she is working from her home office in France, the Executive understands that she will
be required to travel regularly to the United States on Company business, subject to applicable legal restrictions on travel to the United
States.

 

	2.	Compensation.

 

(a)             Base
Salary. During the Term, the Company shall pay the Executive a base salary (“Base Salary”), at the annual rate
of $500,000, which shall be paid in installments in accordance with the Company's normal payroll practices. The Executive's Base Salary
shall be reviewed annually by the CEO pursuant to the normal performance review policies for senior-level executives and may be increased
but not decreased based on market trends, internal considerations, and performance, as the Compensation Committee (the “Compensation
Committee”) of the Board of Directors (the “Board”) of CompoSecure, Inc. (“Parent”) deems
appropriate. The Compensation Committee may take any actions of the Board pursuant to this Agreement.

 

(b)             Annual
Bonus. The Executive shall be eligible to receive an annual bonus for each fiscal year during the Term, commencing with the 2022
fiscal year, based on the attainment of individual and corporate performance goals and targets established by the Board (“Annual
Bonus”); provided, that, subject to Sections 6, 9, and 10 herein, actual payout of the Annual Bonus will be determined by the
Compensation Committee in its discretion based on achievement of the applicable performance goals for the relevant performance period.
The target amount of the Executive's Annual Bonus for any fiscal year during the Term is 100% of the Executive's annual Base Salary and
the maximum Annual Bonus payable for any fiscal year during the Term is 200% of the Executive's annual Base Salary. Any Annual Bonus
shall be paid after the end of the fiscal year to which it relates, at the same time and under the same terms and conditions as the bonuses
for other executives of the Company; provided that in no event shall the Executive's Annual Bonus be paid later than two and a half months
after the last day of the fiscal year to which the Annual Bonus relates. The Annual Bonus shall be subject to the terms of the annual
bonus plan that is applicable to other executives of the Company, including requirements as to continued employment, subject to the provisions
of Section 6 below.

 

(c)             Sign-On
Bonus. As an inducement for the Executive to join the Company in the role of Chief Revenue Officer and to compensate the Executive
for certain costs associated with transitioning any prior business activities, the Company shall pay the Executive a sign-on bonus in
the aggregate amount of $750,000 (the “Sign-On Bonus”). The Sign-On Bonus will be paid in a single lump-sum within
30 days following the Effective Date. The Executive will be required to repay the full amount of the Sign-On Bonus paid to the Executive
if, prior to the first anniversary of the Effective Date, the Executive's employment terminates either (1) by the Company for Cause (as
defined below), or (2) by the Executive for any reason other than Good Reason (as defined below).

 

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(d)             Equity
Compensation. The Executive shall receive two restricted stock unit grants from Parent in connection with her commencement of employment.
The first grant (“Sign-On Grant”) will be with respect to 300,000 shares of Parent's common stock. The Sign-On Grant
will vest in two installments over the two-year period following the date of grant, with one-third vesting after 12 months and the remaining
two-thirds vesting after 24 months. The second grant (“Staking Grant”) will be with respect to 300,000 shares of Parent's
common stock and will vest ratably over four years, with 25% of the award vesting each year. Vesting is conditioned on continued employment
through the specified vesting dates, except as provided in Section 6. Both of these equity grants will be made under Parent's 2021 Incentive
Equity Plan, with such terms as the Board deems appropriate, consistent with the terms of this Agreement and applicable law, and will
be made on the same date as staking grants are made to other senior management or, if the Effective Date is later than such date, as
soon as practical, but not later than 45 days, after the Effective Date. The Sign-On Grant and the Staking Grant are each intended to
provide approximately $3 million of grant-date value, but the Executive acknowledges that the actual grant-date value may be more or
less than $3 million, depending on the market performance of the Company's shares. In addition to the Sign-On Grant and the Staking Grant,
the Executive shall be eligible to receive annual equity awards under the Parent's 2021 Incentive Equity Plan on the same terms as other
senior executives of the Company, beginning in 2023, with a target annual value of approximately $1 million.

 

3.             Retirement
and Welfare Benefits. While the Executive is working from her home in France, she will be entitled to the benefits customarily provided
by the PEO to executive level employees employed in France and consistent with French law. Once the Executive is employed in the United
States directly by the Company, the Executive shall be eligible, for the remainder of the Term, to participate in the Company's health,
life insurance, long-term disability, retirement and welfare benefit plans and programs available to employees of the Company, pursuant
to their respective terms and conditions. Nothing in this Agreement shall preclude the Company or any Affiliate of the Company from terminating
or amending any employee benefit plan or program from time to time after the Effective Date.

 

4.             Vacation.
While employed through the PEO, the Executive will be eligible for paid vacation and other paid time off as is customary for executive
level employees employed in France and consistent with French law. Once the Executive is employed in the United States directly by the
Company, the Executive shall be eligible, for the remainder of the Term, to vacation each year and holiday and sick leave at levels commensurate
with those provided to other senior executives of the Company, in accordance with the Company's vacation, holiday and other pay-for-time-not-worked
policies; provided, that the Executive shall be eligible for not less than 4 weeks of vacation each year.

 

	5.	Expenses.

 

(a)              Business
Expenses. The Company shall reimburse the Executive for all necessary and reasonable travel (which does not include commuting) and
other business expenses incurred by the Executive in the performance of her duties hereunder in accordance with such policies and procedures
as the Company may adopt generally from time to time for executives.

 

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(b)             Moving
Expenses. The Executive shall be eligible to receive relocation benefits pursuant to the Company's relocation policy for the move
to the Somerset, New Jersey area from Paris, France, grossed up if such benefits are subject to US income tax withholding obligations.
The Executive shall be required to repay: (i) the full amount of the relocation benefits if, prior to the first anniversary of the date
such benefits are paid, the Executive's employment terminates either (1) by the Company for Cause, or (2) by the Executive for any reason
other than Good Reason; and (ii) 50% of the relocation benefits if the Executive's employment terminates either (1) by the Company for
Cause, or (2) by the Executive for any reason other than Good Reason after the first anniversary, but prior to the second anniversary,
of the date such benefits are paid.

 

(c)              Immigration
Expenses. The Company agrees to bear all reasonable expenses incurred during the Term related to securing a visa permitting the Executive
and her spouse to live and work in the United States, as well as the expenses related to securing permanent resident ("green card")
status for the Executive and her spouse. The Company's payment of those expenses will be grossed up if subject to US income tax withholding
obligations.

 

6.             Termination
Without Cause: Resignation for Good Reason. The Company may terminate the Executive's employment at any time without Cause upon 30
days' advance written notice. The Executive may initiate a termination of employment by resigning for Good Reason as described below.
Upon termination by the Company without Cause or resignation by the Executive for Good Reason, if the Executive executes and does not
revoke a written Release (as defined below), the Executive shall be entitled to receive, in lieu of any payments under any severance
plan or program for employees or executives, the following:

 

(a)             The
Company will pay the Executive an amount equal to (i) one (1) times the sum of (x) the Executive's annual Base Salary, plus (y) the Executive's
target Annual Bonus for the year of termination, plus (ii) a pro-rata portion of the Executive's Annual Bonus for the year of termination,
based on actual performance for the applicable performance period. Payment shall be made over the one-year period following the termination
date in installments in accordance with the Company's normal payroll practices; provided, that if the Executive's termination date is
in connection with or during the 24-month period following a Change in Control, the Company will pay the Executive an amount equal to
(i) one (1) times the sum of (x) the Executive's annual Base Salary, plus (y) the Executive's target Annual Bonus for the year of termination,
plus (ii) a pro-rata portion of the Executive's Annual Bonus for the year of termination, based on actual performance
for the applicable performance period, with such payment to be made in a single lump-sum cash payment. Installment payments will begin
on the 60th day after the Executive's termination
date, and any installments not paid between the termination date and the date of the first payment will be paid with the first payment.
In the case of a payment following a Change in Control, payment of the lump-sum amount shall be made on the 60th
day following the termination date. 

 

(b)             The Company shall make a lump-sum payment on the 60th day
following the termination date equal to the COBRA premiums that the Executive would pay if she elected continued health coverage under
the Company's health plan for the Executive and her dependents for the 12-month period following the termination date, based on the COBRA
rates in effect at the termination date. 

 

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(c)              The prorated Annual Bonus referenced in Section 6(a) above shall be determined by multiplying the full year Annual Bonus that would otherwise
have been payable to the Executive, based upon the achievement of the applicable performance goals, as determined by the Board, by a fraction,
the numerator of which is the number of days during which the Executive was employed by the Company in the fiscal year in which the termination
date occurs and the denominator of which is 365. Such prorated Annual Bonus, if any, shall be paid at the same time as bonuses are paid
to other employees of the Company, but not later than two and a half months after the end of the fiscal year in which the termination
date occurs.

 

(d)             The Executive's Sign-On Grant shall become fully vested as of the termination date. The Executive's Staking Grant shall vest pro-rata,
with a minimum of six (6) months of vesting. Any other equity awards that the Executive holds at the termination date and that vest based
on time shall vest pro-rata, and for those that vest based on performance, shall vest pro-rata based on performance at target, in accordance
with the applicable grant agreement; provided, that no acceleration shall occur for any awards (time-based or performance-based) granted
less than one year before the termination date. For any termination without Cause or resignation for Good Reason that occurs in connection
with or during the 24 months following a Change in Control, all time-vesting awards shall accelerate and become fully vested, and all
performance-vesting awards shall accelerate and become vested based on actual performance as of the date of the applicable Change in Control.

 

(e)             The
Company shall pay any other amounts earned, accrued and owing but not yet paid under Section 2 above and any benefits accrued and due
under any applicable benefit plans and programs of the Company (“Accrued Obligations”), regardless of whether the
Executive executes or revokes the Release.

 

7.             Cause.
The Company may terminate the Executive's employment at any time for Cause upon written notice to the Executive, in which event all payments
under this Agreement shall cease, except for any Accrued Obligations.

 

8.             Voluntarv
Resignation Without Good Reason. The Executive may voluntarily terminate employment without Good Reason upon 30 days' prior written
notice to the Company. In such event, after the effective date of such termination, no payments shall be due under this Agreement, except
that the Executive shall be entitled to any Accrued Obligations.

 

9.             Disability.
If the Executive incurs a Disability during the Term, the Company may terminate the Executive's employment on or after the date of
Disability. If the Executive's employment terminates on account of Disability, the Executive shall be entitled to receive any
Accrued Obligations. In addition, the Executive's Sign-On Grant shall accelerate and become fully vested, and the Executive's
Staking Grant and any other equity awards that the Executive holds at the termination date and that vest based on time shall vest
pro-rata, and for those that vest based on performance, shall vest pro-rata based on performance at target, in accordance with the
applicable grant agreement; provided, that no acceleration shall occur for any awards (time-based or performance-based) granted less
than one year before the termination date. For purposes of this Agreement, the term “Disability” shall mean the
Executive is eligible to receive long-term disability benefits under the Company's long-term disability plan.

 

10.           Death.
If the Executive dies during the Term, the Executive's employment shall terminate on the date of death and the Company shall pay to the
Executive's executor, legal representative, administrator or designated beneficiary, as applicable, any Accrued Obligations. In addition,
the Executive's Sign-On Grant shall accelerate and become fully vested, and the Executive's Staking Grant and any other equity awards
that the Executive holds at the termination date and that vest based on time shall vest pro-rata, and for those that vest based on performance,
shall vest pro-rata based on performance at target, in accordance with the applicable grant agreement; provided, that no acceleration
shall occur for any awards (time-based or performance-based) granted less than one year before the Executive's death. Otherwise, the
Company shall have no further liability or obligation under this Agreement to the Executive's executors, legal representatives, administrators,
heirs or assigns or any other person claiming under or through the Executive.

 

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11.           Resignation
of Positions. Effective as of the date of any termination of employment, the Executive will resign from all Company-related positions,
including as an officer and director of the Company and its parents, subsidiaries and Affiliates.

 

12.           Definitions.
For purposes of this Agreement, the following terms shall have the following meanmgs:

 

(a)            "Cause"
shall mean (i) the Executive's conviction of (a) a felony or (b) a misdemeanor that has a material adverse effect upon the business
or reputation of the Company; (ii)   the Executive's willful and material violation of any applicable federal, state or
local law in connection with carrying out Executive's responsibilities and duties hereunder that is likely to have a material
adverse effect upon the business or reputation of the Company; (iii) the Company's determination that the Executive has committed an
act of fraud or an act constituting a breach of fiduciary duty, disloyalty by the Executive (including, without limitation, aiding a
competitor), which has had or could reasonably be expected to have a material adverse effect on the business or reputation of the
Company; (iv) the Executive's substantial and/or repeated failure or refusal to perform his assigned duties as reasonably assigned
by the Chief Executive Officer ( other than a failure resulting from Executive's incapacity due to physical or mental illness),
which willful failure or refusal has had or could reasonably be expected to have a material adverse effect on the business or
reputation of the Company; (v) the Executive's willful and/or material violation of the Company's Code of Conduct; and/or (vi) the
Executive's material breach of the Executive's covenants and obligations set forth in Section 14 hereof that is likely to have a
material adverse effect upon the business or reputation of the Company. Prior to any termination for Cause pursuant to each such
event listed in (ii), (iii), (iv), (v) or (vi) above, to the extent such event(s) is capable of being cured by the Executive, the
Company shall give the Executive written notice thereof describing in reasonable detail the circumstances constituting Cause and the
Executive shall have the opportunity to remedy same within thirty (30) days after receiving written notice.

 

		(b)	"Change in Control"
                                            shall have the meaning set forth in the Parent's 2021 Incentive Equity Plan.

 

(c)          
 "Good Reason" shall mean the occurrence of one or more of the following without the Executive's consent, other than
on account of the Executive's Disability:

 

(1)            A material
diminution by the Company of the Executive's authority, duties or responsibilities;

 

(2)          
A material change in the geographic location at which the Executive must perform services under this Agreement (which, for purposes
of this Agreement, means relocation of the offices of the Company at which the Executive is principally employed to a location
that increases the Executive's commute to work by more than 50 miles); provided, that for the avoidance of doubt, the
Executive agrees that her required relocation from France to the Somerset, New Jersey metropolitan area shall not constitute Good
Reason;

 

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		(3)	A material diminution in the Executive's Base Salary; or

 

		(4)	Any action or inaction that constitutes a material breach by the Company of this Agreement.

 

The Executive must
provide written notice of termination for Good Reason to the Company within 30 days after the event constituting Good Reason. The Company
shall have a period of 30 days in which it may correct the act or failure to act that constitutes the grounds for Good Reason as set forth
in the Executive's notice of termination. If the Company does not correct the act or failure to act, the Executive's employment will terminate
for Good Reason on the first business day following the Company's 30-day cure period.

 

(d)          
 “Release” shall mean a separation agreement and general release of any and all claims against the Company and all
related parties with respect to all matters arising out of the Executive's employment by the Company, and the termination thereof (other
than claims for any entitlements under the terms of this Agreement or under any plans or programs of the Company under which the Executive
has accrued and is due a benefit). The Release will be in the form attached hereto as Exhibit A, subject to such legally required
changes as the Company may require. Such general release shall be executed and delivered (and no longer subject to revocation, if applicable)
by the Executive within sixty (60) days following delivery of the general release to the Executive.

 

	13.	Section 409A.

 

(a)            This
Agreement is intended to comply with section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and
its corresponding regulations, or an exemption thereto, and payments may only be made under this Agreement upon an event and in a manner
permitted by section 409A of the Code, to the extent applicable. Severance benefits under this Agreement are intended to be exempt from
section 409A of the Code under the "short-term deferral" exception, to the maximum extent applicable, and then under the "separation
pay" exception, to the maximum extent applicable. Notwithstanding anything in this Agreement to the contrary, if required by section
409A of the Code, if the Executive is considered a "specified employee" for purposes of section 409A of the Code and if payment
of any amounts under this Agreement is required to be delayed for a period of six months after separation from service pursuant to section
409A of the Code, payment of such amounts shall be delayed as required by section 409A of the Code, and the accumulated amounts shall
be paid in a lump-sum payment within 10 days after the end of the six-month period. If the Executive dies during the postponement period
prior to the payment of benefits, the amounts withheld on account of section 409 A of the Code shall be paid to the personal representative
of the Executive's estate within 60 days after the date of the Executive's death.

 

(b)         
  All payments to be made upon a termination of employment under this Agreement may only be made upon a "separation from
service" under section 409A of the Code. For purposes of section 409A of the Code, each payment
hereunder shall be treated as a separate payment, and right to a series of installment payments under this Agreement shall be
treated as a right to a payments. In no event may the Executive, directly or indirectly, designate fiscal year of a payment.
Notwithstanding any provision of this Agreement to the contrary, in no event shall the timing of the Executive's execution of the
Release, directly or indirectly, result in the Executive's designating the fiscal year of payment of any amounts of deferred
compensation subject to section 409A of the Code, and if a payment that is subject to execution of the Release could be made in more
than one taxable year, payment shall be made in the later taxable year.

 

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(c)           All
reimbursements and in-kind benefits provided under this Agreement shall be made or provided in accordance with the requirements of
section 409A of the Code, including, where applicable, the requirement that (i) any reimbursement be for expenses incurred during
the period specified in this Agreement, (ii) the amount of expenses eligible for reimbursement, or in-kind benefits provided, during
a fiscal year not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other fiscal year,
(iii) the reimbursement of an eligible expense be made no later than the last day of the fiscal year following the year in which the
expense is incurred, and (iv) the right to reimbursement or in-kind benefits not be subject to liquidation or exchange for another
benefit.

 

	14.	Restrictive Covenants.

 

(a)           Noncompetition.
The Executive agrees that during the Executive's employment with the Company and its Affiliates and the 24-month period following the
date on which the Executive's employment terminates for any reason (the “Restriction Period”), the Executive will
not, without the Board's express written consent, engage (directly or indirectly) in any Competitive Business anywhere in the world.
The term "Competitive Business" means the business of designing, developing, manufacturing customizing and/or selling (i) financial
transaction cards manufactured of metal or metal hybrid, including ID cards and security cards, and/or (ii) products and services to
enable consumers to buy, sell and store cryptocurrencies and other digital assets and providing similar products and services to businesses
for distribution to their customers, including, without limitation, banking and financial services, insurance, warranty and eGaming markets,
and related activities. The Executive understands and agrees that, given the nature of the business of the Company and its Affiliates
(as defined below) and the Executive's position with the Company, the foregoing geographic scope is reasonable and appropriate. For purposes
of this Agreement, the term “Affiliate” means any subsidiary of the Company or other entity under common control with
the Company.

 

(b)           Nonsolicitation
of Company Personnel. The Executive agrees that during the Restriction Period, the Executive will not, either directly or through
others, hire or attempt to hire any employee, consultant or independent contractor of the Company or its Affiliates, or solicit or
attempt to solicit any such person to change or terminate his or her relationship with the Company or an Affiliate or otherwise to
become an employee, consultant or independent contractor to, for or of any other person or business entity, unless more than 12
months shall have elapsed between the last day of such person's employment or service with the Company or Affiliate and the first
day of such solicitation or hiring or attempt to solicit or hire; provided that the foregoing does not prohibit general solicitation
or recruitment activities not directed at employees of the Company or soliciting, recruiting or hiring any person who responds
thereto.

 

(c)           Nonsolicitation
of Customers. The Executive agrees that during the Restriction Period, the Executive will not, either directly or through others,
solicit, divert or appropriate, or attempt to solicit, divert or appropriate, any customer or actively sought prospective customer of
the Company or an Affiliate for the purpose of providing such customer or actively sought prospective customer with services or products
competitive with those offered by the Company or an Affiliate during the Executive's employment with the Company or an Affiliate.

 

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(d)          
Proprietary Information. At all times, the Executive will hold in strictest confidence and will not disclose, use, lecture upon
or publish any of the Proprietary Information (defined below) of the Company or an Affiliate, except as such disclosure, use or publication
may be required in connection with the Executive's work for the Company or as described in Section 14(e) below, or unless the Company
expressly authorizes such disclosure in writing. “Proprietary Information” shall mean any and all confidential and/or
proprietary knowledge, data or information of the Company and its Affiliates and shareholders, including but not limited to information
relating to financial matters, investments, budgets, business plans, marketing plans, personnel matters, business contacts, products,
processes, know-how, designs, methods, improvements, discoveries, inventions, ideas, data, programs, and other works of authorship.

 

(e)            Reports
to Government Entities. Nothing in this Agreement shall prohibit or restrict the Executive from initiating communications directly
with, responding to any inquiry from, providing testimony before, providing confidential information to, reporting possible violations
of law or regulation to, or filing a claim or assisting with an investigation directly with a self-regulatory authority or a government
agency or entity, including the Equal Employment Opportunity Commission, the Department of Labor, the National Labor Relations Board,
the Department of Justice, the Securities and Exchange Commission, Congress, any agency Inspector General or any other federal, state
or local regulatory authority (collectively, the "Regulators"), or from making other disclosures that are protected under the
whistleblower provisions of state or federal law or regulation. The Executive does not need the prior authorization of the Company to
engage in conduct protected by this subsection, and the Executive does not need to notify the Company that the Executive has engaged
in such conduct. Please take notice that federal law provides criminal and civil immunity to federal and state claims for trade secret
misappropriation to individuals who disclose trade secrets to their attorneys, courts, or government officials in certain, confidential
circumstances that are set forth at 18 U.S.C. §§ 1833(b)(l) and 1833(b)(2), related to the reporting or investigation of a
suspected violation of the law, or in connection with a lawsuit for retaliation for reporting a suspected violation of the law.

 

(f)            Inventions
Assignment. The Executive agrees that all inventions, innovations, improvements, developments, methods, designs, analyses, reports,
and all similar or related information which relates to the Company's or its Affiliates' actual or anticipated business, research and
development or existing or future products or services and which are conceived, developed or made by the Executive while employed by
the Company (“Work Product”) belong to the Company. The Executive will promptly disclose such Work Product to the
Board and perform all actions reasonably requested by the Board (whether during or after the Term) to establish and confirm such ownership
(including, without limitation, assignments, consents, powers of attorney and other instruments). If requested by the Company, the Executive
agrees to execute any inventions assignment and confidentiality agreement that is required to be signed by Company employees generally.

 

(g)           Non-Disparagement.
The Executive agrees and covenants that the Executive will not at any time make, publish or communicate in any public forum or
otherwise in a manner intended to achieve widespread publication or broadcast outside the Company or to substantial numbers of
employees of the Company, any defamatory or disparaging remarks, comments or statements concerning the Company or its businesses, or
any of its employees, officers, and existing and prospective customers, suppliers, or investors. The Company agrees and covenants
that it will direct its officers to not at any time make, publish or communicate in any public forum or otherwise in a manner
intended to achieve widespread publication or broadcast outside the Company or to substantial numbers of employees of the Company,
any defamatory or disparaging remarks, comments or statements concerning the Executive.

 

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(h)           Return
of Company Property. Upon termination of the Executive's employment with the Company for any reason, and at any earlier time the Company
requests, the Executive will deliver to the person designated by the Company all originals and copies of all documents and property of
the Company or an Affiliate that is in the Executive's possession or under the Executive's control or to which the Executive may have
access. The Executive will not reproduce or appropriate for the Executive's own use, or for the use of others, any property, proprietary
information, or Work Product.

 

15.         
Legal and Equitable Remedies. Because the Executive's services are personal and unique and the Executive has had and will continue
to have access to and has become and will continue to become acquainted with the proprietary information of the Company and its Affiliates,
and because any breach by the Executive of any of the restrictive covenants contained in Section 14 would result in irreparable injury
and damage for which money damages would not provide an adequate remedy, the Company shall have the right to enforce Section 14 and any
of its provisions by injunction, specific performance or other equitable relief, without bond and without prejudice to any other rights
and remedies that the Company may have for a breach, or threatened breach, of the restrictive covenants set forth in Section 14. The
Executive agrees that in any action in which the Company seeks injunction, specific performance or other equitable relief, the Executive
will not assert or contend that any of the provisions of Section 14 are unreasonable or otherwise unenforceable.

 

16.          Survival.
The respective rights and obligations of the parties under this Agreement (including, but not limited to, under Sections 14 and 15) shall
survive any termination of the Executive's employment or termination or expiration of this Agreement to the extent necessary to the intended
preservation of such rights and obligations.

 

17.           No
Mitigation or Set-Off. In no event shall the Executive be obligated to seek other employment or take any other action by way of mitigation
of the amounts payable to the Executive under any of the provisions of this Agreement, and such amounts shall not be reduced regardless
of whether the Executive obtains other employment. The Company's obligation to make the payments provided for in this Agreement and otherwise
to perform its obligations hereunder shall not be affected by any circumstances, including, without limitation, any set-off, counterclaim,
recoupment, defense or other right which the Company may have against the Executive or others.

 

18.           Executive's
Representations: Background Checks. The Executive represents and warrants to the Company that during five years prior to her start
of employment she has not been: (i) convicted in a criminal proceeding (excluding traffic violations and other minor offenses); (ii)
subject to any order of any court or arbitral body permanently or temporarily enjoining the Executive from engaging in, or otherwise
imposing limits or conditions on, the Executive's employment with the c·ompany; or (iii) found by a court, by a binding arbitration
decision, or by a government agency to have violated any federal or state law, rule or regulation, which such judgment or finding has
not been subsequently reversed, suspended or vacated. The Executive understands and acknowledges that the Company retains the right to
conduct a Background Check and Drug Screening. Background Checks will include a criminal record check, social security trace, sex offender
and may include an education record check, motor vehicle report, credit check and reference check. In the event of unsatisfactory results
from any Drug Screening and/or Background Check, the Company will withdraw this offer or, as appropriate, terminate the Executive's employment
for “Cause” pursuant to Section 7.

 

    	 	10	 

     

    

 

19.          Legal
Fees: Tax Services. The Company will reimburse the Executive for up to $10,000 of reasonable legal fees incurred in the review and
negotiation of this Agreement. In addition, the Company will reimburse the Executive for up to two (2) years of tax services related
to her compliance with U.S. and foreign tax obligations.

 

20.          Section
280G. In the event of a change in ownership or control under section 280G of the Code, if it shall be determined that any payment
or distribution in the nature of compensation (within the meaning of section 280G(b)(2) of the Code) to or for the benefit of the Executive,
whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise (a “Payment”),
would constitute an "excess parachute payment" within the meaning of section 280G of the Code, the aggregate present value
of the Payments under this Agreement shall be reduced (but not below zero) to the Reduced Amount (defined below) if and only if the Accounting
Firm (defined below) determines that the reduction will provide the Executive with a greater net after-tax benefit than would no reduction.
No reduction shall be made unless the reduction would provide Executive with a greater net after-tax benefit. The determinations under
this Section shall be made as follows:

 

(a)              The
 “Reduced Amount” shall be an amount expressed in present value which maximizes the aggregate present value of Payments
under this Agreement without causing any Payment under this Agreement to be subject to the Excise Tax (defined below), determined in
accordance with section 280G(d)(4) of the Code. The term “Excise Tax” means the excise tax imposed under section 4999
of the Code, together with any interest or penalties imposed with respect to such excise tax.

 

(b)             Payments under this Agreement shall be reduced on a nondiscretionary basis in such a way as to minimize the reduction in the economic
value deliverable to the Executive. Where more than one payment has the same value for this purpose and they are payable at different
times, they will be reduced on a pro rata basis. Only amounts payable under this Agreement shall be reduced pursuant to this Section.

 

(c)            All
determinations to be made under this Section shall be made by an independent certified public accounting firm selected by the Company
and agreed to by the Executive immediately prior to the change-in-ownership or -control transaction (the “Accounting Firm”).
The Accounting Firm shall provide its determinations and any supporting calculations both to the Company and the Executive within 10
days of the transaction. Any such determination by the Accounting Firm shall be binding upon the Company and the Executive. All of the
fees and expenses of the Accounting Firm in performing the determinations referred to in
this Section shall be borne solely by the Company.

 

    	 	11	 

     

    

 

21.           Notices. All notices and other communications required or permitted under this Agreement or necessary or convenient in connection
herewith shall be in writing and shall be deemed to have been given when hand delivered or mailed by registered or certified mail,
as follows (provided that notice of change of address shall be deemed given only when received):

 

Ifto the Company, to:

 

CompoSecure, L.L.C.

 

500 Memorial Drive

 

Somerset, NJ 08873

 

Attn: Jon Wilk, Chief Executive Officer

 

If to the Executive,
to the most recent address on file with the Company or to such other names or addresses as the Company or the Executive, as the case may
be, shall designate by notice to each other person entitled to receive notices in the manner specified in this Section.

 

22.         Withholding.
All payments under this Agreement shall be made subject to applicable tax withholding, and the Company shall withhold from any payments
under this Agreement all federal, state and local taxes as the Company is required to withhold pursuant to any law or governmental rule
or regulation. The Executive shall bear all expense of, and be solely responsible for, all federal, state and local taxes due with respect
to any payment received under this Agreement.

 

23.          Remedies
Cumulative: No Waiver. No remedy conferred upon a party by this Agreement is intended to be exclusive of any other remedy, and each
and every such remedy shall be cumulative and shall be in addition to any other remedy given under this Agreement or now or hereafter
existing at law or in equity. No delay or omission by a party in exercising any right, remedy or power under this Agreement or existing
at law or in equity shall be construed as a waiver thereof, and any such right, remedy or power may be exercised by such party from time
to time and as often as may be deemed expedient or necessary by such party in its sole discretion.

 

24.          Binding
Arbitration and Waiver of Right to Participate in Class Actions. Except for disputes relating to, or arising out of, the Executive's
obligations set forth in Section 14, including the Company's right to independently seek and obtain injunctive relief in state or federal
courts, the parties agree to arbitrate any and all claims, disputes or controversies relating to, or arising out of, or concerning, this
Agreement and/or the Executive's employment with the Company, including termination of the Executive's employment. The parties' agreement
to arbitrate employment-related claims is intended to include, but is not limited to, claims concerning compensation, benefits or other
terms and conditions of employment, or any other claims whether arising by statute or otherwise including, but not limited to, employment
claims of wrongful discharge, discrimination, harassment or retaliation under federal, state or local laws including, without limitation,
the New Jersey Law Against Discrimination; the New Jersey Discrimination in Wages Law; the New Jersey Temporary Disability Benefits and
Family Leave Insurance Law; the New Jersey Domestic Partnership Act; the New Jersey Conscientious Employee Protection Act; the New Jersey
Family Leave Act; the New Jersey Wage Payment Act; the New Jersey Equal Pay Law; the New Jersey Occupational Safety and Health Law; the
New Jersey False Claims Act; the New Jersey Smokers' Rights Law; the New Jersey Genetic Privacy Act; the New Jersey Fair Credit Reporting
Act; the New Jersey Emergency Responder Leave Law; the New Jersey Millville Dallas Airmotive Plant Job Loss Notification Act (a/k/a the
New Jersey WARN Act); the New Jersey Security and Financial Empowerment Act; and the retaliation provisions of the New Jersey Workers'
Compensation Law; Title VII of the Civil Rights Act as amended, the Equal Pay Act, the Americans With Disabilities Act (as amended),
the Age Discrimination in Employment Act, the Older Workers Benefits Protection Act; the Patient Protection and Affordable Care Act,
and claims arising under the Fair Labor Standards Acts, or any other national, federal, state or local employment or discrimination laws,
rules or regulations. The Executive's agreement to arbitrate also includes claims for breach of contract, violation of internal procedure
or policy, wrongful termination in violation of public policy, wrongful discharge or termination, tort claims including negligence, defamation,
loss of reputation, interference with contractual relations or prospective economic advantage, retaliation, and negligent or intentional
infliction of emotional distress. The Executive agrees that all such claims will be fully and finally resolved by mandatory, binding
arbitration conducted by the American Arbitration Association (“AAA”) located within thirty miles of the Company's offices
in Somerset County, New Jersey, pursuant to the AAA then-current Employment Arbitration Rules and Mediation Procedures. A copy of those
rules is available online at www.adr.org/aaa. The Company as the employer will bear the administrative costs and arbitrator fees, and
the arbitrator in such action may award whatever remedies would be available to the parties in a court of law. The purpose of this provision
is to require binding arbitration of such disputes, claims or controversies that are or may be arbitrable, and the inclusion of any claim
in this provision as to which a jury trial or civil action may not be waived will not taint or invalidate the remainder of this provision.
To be clear, this agreement to arbitrate does not apply to any lawsuit to enforce this arbitration clause, or, as referenced above, to
seek relief as set forth in Section 14 of this Agreement. Those lawsuits will be commenced in the state or federal courts sitting in
the State of New Jersey and the Executive consents to the jurisdiction of the federal or state courts of New Jersey.

 

    	 	12	 

     

    

 

25.          Assignment.
All of the terms and provisions of this Agreement shall be binding upon and inure to the benefit of and be enforceable by the respective
heirs, executors, administrators, legal representatives, successors and assigns of the parties hereto, except that the duties and responsibilities
of the Executive under this Agreement are of a personal nature and shall not be assignable or delegable in whole or in part by the Executive.
The Company may assign its rights, together with its obligations hereunder, in connection with any sale, transfer or other disposition
of all or substantially all of its business and assets, and such rights and obligations shall inure to, and be binding upon, any successor
to the business or any successor to substantially all of the assets of the Company, whether by merger, purchase of stock or assets or
otherwise, which successor shall expressly assume such obligations, and the Executive acknowledges that in such event the obligations
of the Executive hereunder, including but not limited to those under Section 14, will continue to apply in favor of the successor.

 

26.           Companv
Policies. This Agreement and the compensation payable hereunder shall be subject to any applicable clawback or recoupment policies,
share trading policies, and other policies that may be implemented by the Board from time to time with respect to officers of the Company.

 

27.           Indemnification.
In the event the Executive is made, or threatened to be made, a party to any legal action or proceeding, whether civil or criminal, including
any governmental or regulatory proceedings or investigations, by reason of the fact that the Executive is or was a director or officer
of the Company or any of its Affiliates, the Executive shall be indemnified by the Company, and the Company
shall pay the Executive's related expenses (including reasonable attorneys' fees, judgments, fines, settlements and other amounts incurred
in connection with any proceeding arising out of) when and as incurred, to the fullest extent permitted by applicable law and the Company's
articles of incorporation and bylaws. In addition, the Company agrees to indemnify and hold the Executive harmless from any costs, losses,
damages or expenses, including attorneys' fees, the Executive may incur as the result of any claim by the Executive's current employer
that her employment by or on behalf of the Company would violate the terms of the CBA or her employment contract, or applicable law,
provided, that the Executive complies with the terms and conditions set forth on Exhibit B. During
the Executive's employment with the Company or any of its Affiliates and after termination of employment for any reason, the Company
shall cover the Executive under the Company's directors' and officers' insurance policy applicable to other officers and directors according
to the terms of such policy. Such obligations shall be binding upon the Company's successors and assigns and shall inure to the benefit
of the Executive's heirs and personal representatives.

 

    	 	13	 

     

    

 

28.          Entire
Agreement. This Agreement sets forth the entire agreement of the parties hereto and supersedes any and all prior agreements and understandings
concerning the Executive's employment by the Company, including without limitation the Offer Letter dated as of July 23, 2021. This Agreement
may be changed only by a written document signed by the Executive and the Company.

 

29.          Severability.
If any provision of this Agreement or application thereof to anyone or under any circumstances is
adjudicated to be invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall not affect any other provision
or application of this Agreement, which can be given effect without the invalid or unenforceable provision or application, and shall
not invalidate or render unenforceable such provision or application in any other jurisdiction. If any
provision is held void, invalid or unenforceable with respect to particular circumstances, it shall nevertheless remain in full force
and effect in all other circumstances. 

 

30.          Governing
Law. This Agreement shall be governed by, and construed and enforced in accordance with, the substantive and procedural laws of New
Jersey without regard to rules governing conflicts of law.

 

31.           Counterparts.
This Agreement may be executed in any number of counterparts (including facsimile counterparts), each of which shall be an original,
but all of which together shall constitute one instrument.

 

(Signature Page Follows)

 

    	 	14	 

     

    

 

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

 

	 	COMPOSECURE, L.L.C.
	 	 
	 	/s/ Jonathan Wilk
	 	Name: 	Jonathan Wilk
	 	Title:	CEO
	 	Date:	12/13/2021

 

	 	EXECUTIVE 
	 	 
	 	/s/ Amanda Gourbault
	 	Name: 	Amanda Gourbault
	 	Date:	12/12/2021

 

    	 	15Exhibit 10.19 

 

STANDARD FORM

INDUSTRIAL BUILDING LEASE

 

1.               
BASIC TERMS. 

 

This Section 1 contains the Basic
Terms of this lease (this “Lease”) between Landlord and Tenant, as each is named below. Other Sections of the Lease referred
to in this Section 1 explain and define the Basic Terms and are to be read in conjunction with the Basic Terms.

 

1.1               
Effective Date of Lease: May 2, 2016.

 

1.2               
Landlord: FR JH 10, LLC, a Delaware limited liability company

 

1.3               
Tenant: CompoSecure, LLC, a New Jersey limited liability company.

 

1.4               
Premises: Approximately 115,536 rentable square feet in the building commonly known as 309-313 Pierce Street, Somerset NJ 08873
(the “Building”). The Premises are depicted on Exhibit A-1.

 

1.5               
Property: The real property on which the Building is located, as legally described on Exhibit A.

 

1.6               
Lease Term: Ten (10) years and three (3) months (“Term”), commencing May 1, 2016 (“Commencement
Date”) and ending, subject to Section 2.4 below, on July 31, 2026 (“Expiration Date”). In the event
that, for any reason, Landlord permits Tenant to have access to, or possession of, the Premises prior to the Commencement Date, all of
the terms and conditions of this Lease (except the obligation to pay Base Rent, as defined below) shall apply throughout any pre-Commencement
Date use or occupancy. Landlord shall not, however, be obligated to grant to Tenant any right to use, occupy or possess all or any portion
of the Premises prior to the Commencement Date.

 

1.7               
Permitted Uses: (See Section 4.1) General office use: manufacturing and warehousing of non-hazardous goods.

 

1.8               
Tenant’s Guarantor: None.

 

1.9               
Brokers: Tenant’s Broker: Cushman & Wakefield, Inc.

 

1.10            
Security/Damage Deposit: (See Section 4.3) $253,890.36.

 

1.11            
Initial Estimated Additional Rent: $23,973.72 per month.

 

1.12            
Addendums to Lease: The following addendums are attached to and made a part of this Lease:

 

Renewal Option - Fair Market Value

 

    

     

    

 

Exhibits to Lease: The following
exhibits are attached to and made a part of this Lease: Exhibit A (Legal Description); Exhibit A-1 (Depiction of Premises); Exhibit B
(Broom Clean Condition and Repair Requirements); Exhibit C (Rules and Regulations); Exhibit D (Landlord’s Work and Tenant Improvement
Allowance); Exhibit E (Confirmation of Lease Commencement Date); Exhibit F (Sample Letter of Credit); Exhibit G (Tenant Contacts); and
Exhibit H (Certification of Non-Applicability of New Jersey Industrial Site Recovery Act).

 

2.               
LEASE OF PREMISES; RENT.

 

2.1               
Lease of Premises for Lease Term. Landlord hereby leases the Premises to Tenant, and Tenant hereby rents the Premises from
Landlord, for the Term and subject to the conditions of this Lease.

 

2.2               
 Types of Rental Payments. Tenant shall pay net base rent (the “Base Rent”) to Landlord in monthly installments,
in advance, on the first day of each and every calendar month during the Term, in the amounts and for the periods as set forth below:

 

	Lease Period	 	Monthly Base Rent	 	 	Monthly Base Rent Net of 

Abated Rent (If Applicable) *	 
	6/16/16 – 6/30/16	 	$	30,328.20	 	 	$	30,328.20	 
	7/1/16 – 9/30/16	 	$	60,656.40	 	 	$	0.00	 
	10/1/16 – 9/30/17	 	$	64,363.18	 	 	$	64,363.18	 
	10/1/17 – 9/30/18	 	$	62,476.09	 	 	$	62,476.09	 
	10/1/18 – 9/30/19	 	$	64,350.37	 	 	$	64,350.37	 
	10/1/19 – 9/30/20	 	$	66,280.89	 	 	$	66,280.89	 
	10/1/20 – 9/30/21	 	$	68,269.31	 	 	$	68,269.31	 
	10/1/21 – 9/30/22	 	$	70,317.39	 	 	$	70,317.39	 
	10/1/22 – 9/30/23	 	$	72,426.91	 	 	$	72,426.91	 
	10/1/23 – 9/30/24	 	$	74,599.72	 	 	$	74,599.72	 
	10/1/24 – 9/30/25	 	$	76,837.71	 	 	$	76,837.71	 
	10/1/25 – 9/30/26	 	$	79,142.84	 	 	$	79,142.84	 

 

Monthly
installments of Base Rent shall be conditionally abated as follows. Base Rent shall be abated 100% from May 1, 2016 through July 31, 2016,
such that Base Rent shall be $0.00 per month, subject to all terms of
this Section 2. Notwithstanding such abatement of Base Rent, all other sums due under the Lease, including Additional Rent and
sales tax (if applicable), shall be payable as provided in the Lease. The abatement of Base Rent provided for in this provision is conditioned
upon Tenant's full and timely performance of all of its obligations under the Lease. If at any time during the Lease Term an Event of
Default by Tenant occurs, then the abatement of Base Rent provided for in this provision shall immediately become void, and Tenant shall
promptly pay to Landlord, in addition to all other amounts due to Landlord under the Lease, the full amount of all Base Rent herein abated.
Tenant shall also pay (a) all Operating Expenses (defined below) and (b) any other amounts owed by Tenant under this Lease (the
sums described in (a) and (b), collectively, “Additional Rent”). In the event any monthly installment of Base Rent
or Additional Rent, or both, is not paid within 5 days of the date when due, a late charge in an amount equal to 5% of the then delinquent
installment of Base Rent and/or Additional Rent (the “Late Charge”) shall be imposed with respect to the then-delinquent
Rent (as defined below) payment.

 

     

     

    

 

For purposes of this Lease, the Late
Charge, Default Interest, as defined in Section 23.3 below, Base Rent and Additional Rent shall collectively be referred to as
 “Rent.” All Rent shall be paid by Tenant to Landlord, c/o FR JH 10, LLC , P.O. Box 809392 , Chicago, IL 60680-9392,
or if sent by overnight courier, US Bank-Chicago Wholesale Lockbox, 5300 South Cicero Ave., FR JH 10, LLC LBX #809392, Chicago, IL 60638
(or such other entity designated as Landlord’s management agent, if any, and if Landlord so appoints such a management agent, the
 “Agent”), or pursuant to such other directions as Landlord shall designate in this Lease or otherwise in writing.

 

2.3                Required
Payments at Execution. Simultaneously with the execution and delivery of this Lease, Tenant shall deposit with Landlord or Agent
an amount equal to the sum of the first monthly installment of Base Rent of $60,656.40 payable under this Lease, as set forth in Section
2.2 above and the sum designated as the Initial Estimated Additional Rent ($23,973.72) as set forth in Section 1.11 above,
in cash or cash equivalents.  Tenant’s deposit of the foregoing items, together with the amount of the Security Deposit
($253,890.36) specified in Section 1.10 above shall constitute a condition precedent to the Landlord’s obligations
under this Lease.

 

2.4               
Covenants Concerning Rental Payments. Tenant shall pay the Rent promptly when due, without notice or demand, and without any
abatement, deduction or setoff. No payment by Tenant, or receipt or acceptance by Agent or Landlord, of a lesser amount than the correct
Rent shall be deemed to be other than a payment on account, nor shall any endorsement or statement on any check or letter accompanying
any payment be deemed an accord or satisfaction, and Agent or Landlord may accept such payment without prejudice to Landlord’s right
to recover the balance due or to pursue any other remedy available to Landlord. If the Commencement Date occurs on a day other than the
first day of a calendar month, the Rent due for the first calendar month of the Term shall be prorated on a per diem basis (based on a
365 (366 in leap years) day, 12 month year) and paid to Landlord on the Commencement Date, and the Term will be extended to terminate
on the last day of the calendar month in which the Expiration Date stated in Section 1.6 occurs.

 

2.5               
Net Lease. This is an absolutely net lease to Landlord. It is the intent of the parties hereto that the Base Rent payable under
this Lease shall be an absolutely net return to Landlord and that Tenant shall pay all costs and expenses (including replacement of capital
improvements), relating to the ownership and operation of the Premises and the business carried on therein, unless otherwise expressly
provided to the contrary in this Lease. Any amount or obligation relating to the Premises that is not expressly declared (under this Lease)
to be that of Landlord shall be deemed to be an obligation of Tenant to be performed by Tenant, at Tenant’s expense. It is the intention
of the parties hereto that the obligations of Tenant hereunder shall be separate and independent covenants and agreements, that the Base
Rent and the Additional Rent shall continue to be payable in all events, and that the obligations of Tenant hereunder shall continue unaffected
in all events, unless the requirement to pay or perform the same shall have been specifically terminated pursuant to an express provision
of this Lease.

 

     

     

    

 

3.               
OPERATING EXPENSES.

 

3.1               
Definitional Terms Relating to Additional Rent. For purposes of this Section and other relevant provisions of the Lease:

 

3.1.1          
Operating Expenses. The term “Operating Expenses” shall mean all costs and expenses paid or incurred with
respect to, or in connection with, the ownership, repair, restoration, replacement, maintenance and operation of the Property. Operating
Expenses may include, but are not limited to, any or all of the following: (i) all market-based premiums for commercial property, casualty,
general liability, boiler, flood, earthquake, terrorism and all other types of insurance provided by Landlord and relating to the Premises;
all reasonable administrative costs incurred in connection with the procurement and implementation of such insurance policies, and the
amount of any deductible(s) if and to the extent a loss(es) is incurred and the applicable insurer(s) applies the deductible before making
payment of any available insurance proceeds; (ii) management fees to Landlord or Agent or other persons or management entities actually
involved in the management and operation of the Property. (iii) Taxes, as hereinafter defined in Section 3.1.2 (subject, however,
to the last sentence of Section 3.1.2); (iv) dues, fees or other costs and expenses, of any nature, due and payable to any association
or comparable entity to which Landlord, as owner of the Premises, is a member or otherwise belongs and that governs or controls any aspect
of the ownership and operation of the Premises; and (v) any real estate taxes and common area maintenance expenses levied against, or
attributable to, the Premises under any declaration of covenants, conditions and restrictions, reciprocal easement agreement or comparable
arrangement that encumbers and benefits the Premises and other real property (e.g. a business park).

 

3.1.2
        Taxes. The term “Taxes,” as referred to in Section 3.1.1(iii) above
shall mean (i) all governmental taxes, assessments, fees and charges of every kind or nature (other than Landlord’s income
taxes), whether general, special, ordinary or extraordinary, due at any time or from time to time, during the Term and any
extensions thereof, in connection with the ownership, leasing, or operation of the Premises, or of the personal property and
equipment located therein or used in connection therewith; and (ii) any reasonable expenses incurred by Landlord in contesting
either or both (i) such taxes or assessments and (ii) the assessed value of the Premises. For purposes hereof, Tenant shall be
responsible for the payment of its Proportionate Share of all Taxes that are due and payable at any time during the Term, regardless
of when such Taxes may have accrued (it being understood that Tenant shall be responsible for its Proportionate Share of Taxes on a
so-called “cash” basis, as opposed to a so-called “accrual” basis). Such obligation shall survive the
termination or expiration of this Lease. If Landlord so elects, by delivery of written notice to Tenant at any time during the Term,
Tenant shall pay the Taxes directly to the taxing authority(ies), rather than to Landlord for payment to the taxing authority(ies),
whereupon Tenant shall be required to pay all Taxes prior to the date on which they become delinquent and Tenant shall deliver to
Landlord, promptly after Tenant’s payment of same, reasonable evidence of such payments. Tenant will not be entitled to Tax
Appeal Refunds if in default or if any Tax Appeal Fees are unpaid.

 

3.1.3         Operating Year. The
term “Operating Year” shall mean the calendar year commencing January 1st of each year (including the calendar
year within which the Commencement Date occurs) during the Term.

 

3.1.3        Payment of
Operating Expenses. Tenant shall pay, as Additional Rent and in accordance with the requirements of Section 3.3, all of the
Operating Expenses, as set forth. Additional Rent commences to accrue upon the Commencement Date. The Operating Expenses payable hereunder
for the Operating Years in which the Term begins and ends shall be prorated to correspond to that portion of said Operating Years occurring
within the Term. The Operating Expenses and any other sums due and payable under this Lease shall be adjusted upon receipt of the actual
bills therefor, and the obligations of this Section 3 shall survive the termination or expiration of the Lease.

 

     

     

    

 

3.2               
Payment of Additional Rent. Landlord shall have the right to reasonably estimate the Operating Expenses for each Operating
Year. Upon Landlord’s or Agent’s notice to Tenant of such estimated amount, Tenant shall pay, on the first day of each month
during that Operating Year, an amount (the “Estimated Additional Rent”) equal to the estimate of the Tenant’s
Proportionate Share of Operating Expenses divided by 12 (or the fractional portion of the Operating Year remaining at the time Landlord
delivers its notice of the estimated amounts due from Tenant for that Operating Year). If the aggregate amount of Estimated Additional
Rent actually paid by Tenant during any Operating Year is less than Tenant’s actual ultimate liability for Operating Expenses for
that particular Operating Year, Tenant shall pay the deficiency within thirty (30) days of Landlord’s written demand therefor. If
the aggregate amount of Estimated Additional Rent actually paid by Tenant during a given Operating Year exceeds Tenant’s actual
liability for such Operating Year (“Excess Additional Rent”), the Excess Additional Rent shall be credited against
the Estimated Additional Rent next due from Tenant after Landlord’s determination that Excess Additional Rent has been paid by Tenant;
provided, however, in the event that Tenant pays Excess Additional Rent during the final Lease Year, then upon the expiration of the Term,
and determination, by Landlord, of the actual amount of Excess Additional Rent, Landlord or Agent shall pay Tenant the then-applicable
Excess Additional Rent.

 

3.3                Auditing
of Operating Expenses. As soon as is reasonably practical after each Operating Year, Landlord shall provide Tenant with a
statement (a “Statement”) setting forth Tenant’s actual ultimate liability for its Operating Expenses for
the subject Operating Year. If Tenant disputes the amount set forth in a given Statement, Tenant shall have the right, at Tenant's
sole expense, to cause Landlord's books and records with respect to the particular Operating Year that is the subject of that
particular Statement to be audited (the “Audit”) by a certified public accountant mutually acceptable to Landlord
and Tenant (the “Accountant”), provided Tenant (i) has not defaulted under this Lease and failed to cure such
default on a timely basis and (ii) delivers written notice (an “Audit Notice”) to Landlord on or prior to the
date that is sixty (60) days after Landlord delivers the Statement in question to Tenant (such 60-day period, the “Response
Period”). If Tenant fails to timely deliver an Audit Notice with respect to a given Statement, then Tenant's right to
undertake an Audit with respect to that Statement and the Operating Year to which that particular Statement relates shall
automatically and irrevocably be waived. Any Statement shall be final and binding upon Tenant and shall, as between the parties, be
conclusively deemed correct, at the end of the applicable Response Period, unless prior thereto, Tenant timely delivers an Audit
Notice with respect to the then-applicable Statement. If Tenant timely delivers an Audit Notice, Tenant must commence such Audit
within sixty (60) days after the Audit Notice is delivered to Landlord, and the Audit must be completed within thirty (30) days of
the date on which it is begun. If Tenant fails, for any reason, to commence and complete the Audit within such periods, the
Statement that Tenant elected to Audit shall be deemed final and binding upon Tenant and shall, as between the parties, be
conclusively deemed correct. The Audit shall take place at the offices of Landlord where its books and records are located, at a
mutually convenient time during Landlord's regular business hours. Before conducting the Audit, Tenant must pay the full amount of
Operating Expenses billed under the Statement then in question. Tenant hereby covenants and agrees that the Accountant engaged by
Tenant to conduct the Audit shall be compensated on an hourly basis and shall not be compensated based upon a percentage of
overcharges it discovers. If an Audit is conducted in a timely manner, such Audit shall be deemed final and binding upon Landlord
and Tenant and shall, as between the parties, be conclusively deemed correct. If the results of the Audit reveal that the
Tenant’s ultimate liability for Operating Expenses does not equal the aggregate amount of Estimated Additional Rent actually
paid by Tenant to Landlord during the Operating Year that is the subject of the Audit, the appropriate adjustment shall be made
between Landlord and Tenant, and any payment required to be made by Landlord or Tenant to the other shall be made within thirty (30)
days after the Accountant’s determination. In no event shall this Lease be terminable nor shall Landlord be liable for damages
based upon any disagreement regarding an adjustment of Operating Expenses. Tenant agrees that the results of any Audit shall be kept
strictly confidential by Tenant and shall not be disclosed to any other person or entity. The foregoing provisions concerning a
potential Audit are personal to Tenant and shall not run with this Lease or for the benefit of any assignee or sub lessee (whether
permitted or not).

 

     

     

    

 

4.               
USE OF PREMISES AND COMMON AREAS; SIGNAGE; SECURITY DEPOSIT.

 

4.1               
Use of Premises and Property. The Premises shall be used by the Tenant for the purpose(s) set forth in Section 1.7 above
and for no other purpose whatsoever. Tenant shall not, at any time, use or occupy, or suffer or permit anyone to use or occupy, the Premises,
or do or permit anything to be done in the Premises or the Property, in any manner that may (a) violate any “Certificate of Occupancy”
(or comparable permit or license) for either or both of the Premises and the Property; (b) cause, or be liable to cause, injury to, or
in any way impair the value or proper utilization of, all or any portion of the Property or any equipment, facilities or systems therein;
(c) constitute a violation of the laws and requirements of any public authority or the requirements of insurance bodies or the rules and
regulations of the Property, including, but not limited to, any covenant, condition or restriction encumbering the Property; (d) exceed
the load bearing capacity of the floor of the Premises; or (e) impair the character, reputation or appearance of the Property. Tenant
has answered the Tenant Disclosure, the nature of Tenant’s proposed business operations at the Premises, which is intended to be,
and shall be, relied upon by Landlord. From time to time during the Term (but no more often than once in any twelve month period unless
Tenant is in default hereunder or unless Tenant assigns this Lease or subleases all or any portion of the Premises, whether or not in
accordance with Section 8), Tenant shall provide an updated and current Tenant Disclosure upon Landlord’s request.

 

4.2               
Signage. Tenant shall not affix any sign of any size or character to any portion of the Property, without prior written approval
of Landlord, which approval shall not be unreasonably withheld or delayed, and then only in compliance with all applicable Laws, Easements
and Landlord’s list of signage specifications. Tenant shall remove all signs of Tenant upon the expiration or earlier termination
of this Lease and immediately repair any damage to either or both of the Property and the Premises caused by, or resulting from, such
removal, or the installation or existence of the signs.

 

4.3                Security/Damage
Deposit. Prior to the Commencement Date, Tenant shall deposit with Landlord or Agent the sum set forth in Section 1.10
above, in cash (the “Security”), representing security for the performance by Tenant of the covenants and obligations
hereunder. Upon Tenant’s delivery to Landlord or Agent of an irrevocable letter of credit (“L/C”) issued by
a national U.S. banking institution (the “Issuer”) acceptable to Landlord, in its sole, but reasonable discretion, and
in form and substance reasonably satisfactory to Landlord, in the amount set forth in Section 1.10 above, Landlord shall
return to Tenant the cash being held by Landlord as the Security. Tenant specifically acknowledges and agrees that Landlord shall
not be deemed to act unreasonably if Landlord refuses to accept an L/C issued by a financial institution that has been placed in
receivership or declared insolvent by the FDIC, or has accepted any federal assistance from the Troubled Assets Relief Program or
any similar or comparable program or legislation. In addition to any other items that Landlord may reasonably require, the L/C
shall: (a) name Landlord as its beneficiary; (b) have an initial term of no less than one year; (c) automatically renew for one year
periods unless the issuer provides Landlord with at least 60 days’ advance written notice that the L/C will not be renewed;
(d) the L/C shall permit partial draws; (e) the sole and exclusive condition to any draw on the L/C shall be that Landlord certifies
to the issuer that either or both of the following is/are true: (i) Tenant is the debtor in a pending bankruptcy proceeding; and
(ii) Tenant is in Default (as hereinafter defined) of this Lease; and (f) be transferable to Successor Landlords (defined below) on
as many occasions as desired. In the event that: (w) the expiration date of any L/C occurs before the Expiration Date, (x) the
issuer has advised Landlord that the issuer will not automatically renew the L/C; (y) Tenant fails to deliver to Landlord at least
forty-five (45) days prior to the expiration of such L/C either (A) an amendment thereto extending the expiration date of such L/C
for not less than twelve (12) months, or (B) a new L/C, in form and substance in accordance with (a) through (f) above and otherwise
satisfactory to Landlord (in its reasonable discretion) or (z) (1) the credit rating of the Issuer is down-graded below an A3 rating
by Moody’s or an A- rating with Standard & Poor’s; (2) Landlord advises Tenant that, as a result of such Issuer
down-grade, Landlord desires Tenant to procure a new L/C from an Issuer reasonably acceptable to Landlord, which new L/C shall be in
form and substance to satisfy the requirements of (a) through (f) above and otherwise satisfactory to Landlord (in its reasonable
discretion); and (3) Tenant fails to deliver such new L/C satisfying the requirements set forth in clause (2) above within
forty-five (45) days after Landlord’s request, then in any of the instances described in (w) through (z), Landlord may draw on
the L/C then in Landlord’s possession, and thereafter (in addition to any other remedies available to Landlord under this
Lease) apply the proceeds of such L/C in whatever manner or for whatever purpose Landlord reasonably deems appropriate in the event
that Tenant fails to timely comply with any or all of the covenants and obligations imposed on Tenant under the Lease. In the event
that, upon the occurrence of any of the instances described in (w) through (z), Tenant delivers to Landlord a new L/C that satisfies
the requirements of the Section 4.4, then upon Landlord’s receipt of such new L/C, Landlord shall promptly release the
original L/C to Tenant. The Security shall be held by Landlord or Agent, without interest, in favor
of Tenant; provided, however, that no trust relationship shall be deemed created thereby; the Security may be commingled with other
assets of Landlord; and Landlord shall not be required to pay any interest on the Security. If Tenant defaults in the performance of
any of its covenants hereunder, Landlord or Agent may, without notice to Tenant, may either or both, as applicable, (A) apply all or
any part of the Security, if in the form of cash, or (B) draw on the L/C and apply the proceeds in whatever manner Landlord deems
appropriate, to the cure of such default or the payment of any sums then due from Tenant under this Lease (including, but not
limited to, amounts due under Section 23.2 of this Lease as a consequence of termination of the Lease or Tenant’s right
to possession), in addition to any other remedies available to Landlord. . In the event the Security is so applied, Tenant shall,
upon demand, immediately deposit with Landlord or Agent a sum equal to the amount so used. If Tenant fully and faithfully complies
with all the covenants and obligations hereunder, the Security (for any balance thereof) together with Landlord’s written
consent to the cancellation of the L/C, shall be returned to Tenant within thirty (30) days after the later to occur of (i) the date
the Term expires or terminates or (ii) delivery to Landlord of possession of the Premises. Landlord may deliver the Security to any
lender with a mortgage lien encumbering the Property or to any Successor Landlord (defined below), and thereupon Landlord and Agent
shall be discharged from any further Liability with respect to the Security. In the event that Landlord exercises its right under
the preceding sentence, Tenant shall fully cooperate with Landlord, in all reasonable respects, to cause the L/C to be assigned and
conveyed to or reissued to, such purchaser of Successor Landlord, as the case may be, and Tenant shall bear any expenses incurred in
connection therewith.

 

     

     

    

  

5.               
CONDITION AND DELIVERY OF PREMISES.

 

5.1               
Condition of Premises. Tenant agrees that Tenant is familiar with the condition of both the Premises and the Property, and
Tenant hereby accepts the foregoing on an “AS-IS,” “WHERE-IS” basis, except as is otherwise expressly and specifically
described on Exhibit D attached hereto and incorporated herein by this reference, it being understood that, if Landlord has agreed
to perform any tenant improvements in or to the Premises in consideration of Tenant’s entry into this Lease (collectively, “Landlord’s
Work”), all of Landlord’s Work shall be described on Exhibit D. Tenant acknowledges that neither Landlord nor Agent,
nor any representative of Landlord, has made any representation or warranty as to the condition of the foregoing or the suitability of
the foregoing for Tenant’s intended use. Tenant represents and warrants that Tenant has made its own inspection of the foregoing.
Neither Landlord nor Agent shall be obligated to make any repairs, replacements or improvements (whether structural or otherwise) of any
kind or nature to the foregoing in connection with, or in consideration of, this Lease, except as expressly and specifically set forth
in this Lease, including, but not limited to, Exhibit D.

 

5.2               
Delay in Commencement. Landlord shall not be liable to Tenant if Landlord fails to deliver possession of the Premises to Tenant
on the Commencement Date. The obligations of Tenant under the Lease shall not be affected thereby, except that the Commencement Date shall
be delayed until Landlord delivers possession of the Premises to Tenant, and the Term shall be extended by a period equal to the number
of days of delay in delivery of possession of the Premises to Tenant, plus the number of days necessary to end the Term on the last day
of a month.

 

5.3               
Confirmation of Commencement Date. Upon Landlord’s delivery of possession, and as a condition precedent to such delivery,
of the Premises to Tenant, Tenant shall deliver to Landlord a Confirmation of Commencement Date in substantially the form attached hereto
as Exhibit E.

 

6.               
SUBORDINATION; ESTOPPEL CERTIFICATES; ATTORNMENT.

 

6.1               
 Subordination and Attornment. This Lease is and shall be subject and subordinate at all times to (a) all ground leases or
underlying leases that may now exist or hereafter be executed affecting either or both of the Premises and the Property and (b) any mortgage
or deed of trust that may now exist or hereafter be placed upon, and encumber, any or all of (x) the Property; (y) any ground leases or
underlying leases for the benefit of the Property; and (z) all or any portion of Landlord’s interest or estate in any of said items.
Tenant shall execute and deliver, within ten (10) days of Landlord’s request, and in the form reasonably requested by Landlord (or
its lender), any documents evidencing the subordination of this Lease. Tenant hereby covenants and agrees that Tenant shall attorn to
any successor to Landlord.

 

     

     

    

 

6.2               
Estoppel Certificate. Tenant agrees, from time to time and within ten (10) days after request by Landlord, to deliver to Landlord,
or Landlord’s designee, an estoppel certificate stating such matters pertaining to this Lease as may be reasonably requested by
Landlord. Failure by Tenant to timely execute and deliver such certificate shall constitute a Default, as defined below (without any obligation
to provide any notice thereof or any opportunity to cure such failure to timely perform).

 

6.3               
Transfer by Landlord. In the event of a sale or conveyance by Landlord of the Property, the same shall operate to release Landlord
from any future liability for any of the covenants or conditions, express or implied, herein contained in favor of Tenant and first arising
or accruing after the effective date of Landlord’s transfer of its interest in the Premises, and in such event Tenant agrees to
look solely to Landlord’s successor in interest (“Successor Landlord”) with respect thereto and agrees to attorn
to such successor.

 

7.               
QUIET ENJOYMENT.

 

Subject to the provisions of this Lease,
so long as Tenant pays all of the Rent and performs all of its other obligations hereunder, Tenant shall not be disturbed in its possession
of the Premises by Landlord, Agent or any other person lawfully claiming through or under Landlord.

 

8.               
ASSIGNMENT AND SUBLETTING.

 

Tenant shall not (a) assign
(whether directly or indirectly), in whole or in part, this Lease, or (b) allow this Lease to be assigned, in whole or in part, by
operation of law or otherwise, including, without limitation, by transfer of a controlling interest (i.e. greater than a 25%
interest) of stock, membership interests or partnership interests, or by merger or dissolution, which transfer of a controlling
interest, merger or dissolution shall be deemed an assignment for purposes of this Lease, or (c) mortgage Tenant’s interest in
either or both of the Premises and this Lease or pledge its interest in this Lease, or (d) sublet the Premises, in whole or in part,
without (in the case of any or all of (a) through (d) above) the prior written consent of Landlord (and Landlord’s lender, if
applicable), which consent shall not be unreasonably withheld or delayed. In making its determination to provide or withhold its
consent, it shall be reasonable for Landlord to take into consideration both the business experience and the financial condition of
the surviving entity that shall constitute its tenant after the occurrence of any of (a) through (d) above, and Landlord may impose
conditions precedent to the issuance of its consent (e.g. delivery of a guarantee or other collateral, whether in the form of a
security deposit or otherwise). Tenant may, however, assign this Lease or sublease a portion of the Premises to a wholly-owned
subsidiary, provided that Tenant advises Landlord (and Landlord’s lender, if applicable), in writing, in advance, and
otherwise complies with the succeeding provisions of this Section 8. In no event shall any assignment or sublease ever
release Tenant or any guarantor from any obligation or liability hereunder; and in the case of any assignment, Landlord shall retain
all rights with respect to the Security. Any purported assignment, mortgage, transfer, pledge or sublease made without the prior
written consent of Landlord (and Landlord’s lender, if applicable) shall be absolutely null and void. No assignment of this
Lease shall be effective and valid unless and until the assignee executes and delivers to Landlord (and Landlord’s lender, if
applicable) any and all documentation reasonably required by Landlord (and Landlord’s lender, if applicable) in order to
evidence assignee’s assumption of all obligations of Tenant hereunder. Regardless of whether or not an assignee or sublessee
executes and delivers any documentation to Landlord pursuant to the preceding sentence, any assignee or sublessee shall be deemed to
have automatically attorned to Landlord in the event of any termination of this Lease. If this Lease is assigned, or if the Premises
(or any part thereof) are sublet or used or occupied by anyone other than Tenant, whether or not in violation of this Lease,
Landlord or Agent may (without prejudice to, or waiver of Landlord’s rights), collect Rent from the assignee, subtenant or
occupant. In the event of an assignment of this Lease and the payment of consideration from the assignee to the Tenant in connection
therewith, fifty percent (50%) of such consideration shall be paid to Landlord. With respect to the allocable portion of the
Premises sublet, in the event that the total rent and any other considerations received under any sublease by Tenant is greater than
(on a pro rata and proportionate basis) the total Rent required to be paid, from time to time, under this Lease, Tenant shall pay to
Landlord fifty percent (50%) of such excess as received from any subtenant and such amount shall be deemed a component of the
Additional Rent.

 

     

     

    

 

9.               
COMPLIANCE WITH LAWS.

 

9.1               
Compliance with Laws. Tenant shall, at its sole expense, comply with all local, state and federal laws, ordinances, rules,
regulations and requirements now or hereafter in force and all judicial and administrative decisions and directives in connection with
the enforcement thereof (collectively, “Laws”), pertaining to any or all of the Premises, Tenant, Tenant’s use of the
Premises or Tenant’s occupancy thereof, and including, but not limited to, all Laws concerning or addressing matters of an environmental
nature. In addition, Tenant shall, at its sole expense, comply with all reasonable rules and regulations Landlord may impose from time
to time. If any certificate, license or permit is required for the conduct of Tenant’s business in the Premises, Tenant, at its
expense, shall procure such certificate, license and permit prior to the Commencement Date, and shall maintain such certificate, license
or permit in good standing throughout the Term. Notwithstanding the foregoing, Landlord shall obtain a certificate of occupancy for the
Premises with the reasonable assistance of Tenant. Tenant shall give prompt notice to Landlord of any written notice it receives of the
alleged violation of any Law or requirement of any governmental or administrative authority with respect to any or all of the Premises,
Tenant, Tenant’s use of the Premises or Tenant’s occupation thereof.

 

9.2                Hazardous
Materials. If, at any time or from time to time during the Term (or any extension thereof), any Hazardous Material (defined
below) is generated, transported, stored, used, treated or disposed of at, to, from, on or in either or both of the Premises and the
Property by, or as a result of any act or omission of, any or all of Tenant and any or all of the Tenant Parties (as defined below):
(i) Tenant shall, at its own cost, at all times comply (and cause all others to comply) with all Laws relating to Hazardous
Materials, and Tenant shall further, at its own cost, obtain and maintain in full force and effect at all times all certificates,
licenses and permits and other approvals required in connection therewith; (ii) Tenant shall promptly provide Landlord or Agent with
complete copies of all communications, certificates, licenses, permits or agreements with, from or issued by any governmental
authority or agency (federal, state or local) or any private entity relating in any way to the presence, release, threat of release,
or placement of Hazardous Materials at, to, from, on or in either or both of the Premises or any portion of the Property, or the
generation, transportation, storage, use, treatment, or disposal at, on, in or from either or both of the Premises or any portion of
the Property, of any Hazardous Materials; (iii) Landlord, Agent and their respective agents and employees shall have the right,
without the obligation, to either or both (x) enter the Premises and (y) conduct such sampling, tests and investigations as Landlord
may elect, in its sole discretion, all at Tenant’s expense, for the purposes of ascertaining Tenant’s compliance with
all applicable Laws or certificates, licenses, permits or agreements relating in any way to the generation, transport, storage, use,
treatment, disposal or presence of Hazardous Materials on, at, in, to or from all or any portion of either or both of the Premises
and the Property; and (iv) upon written request by Landlord or Agent, Tenant shall cause to be performed, and shall provide Landlord
with the results of such sampling, tests and investigations as Landlord may elect, in its sole discretion, of air, water,
groundwater and soil to demonstrate that Tenant complies with all applicable Laws or certificates, licenses, permits or agreements
relating in any way to the generation, transport, storage, use, treatment, disposal or presence of Hazardous Materials on, at, in,
to or from all or any portion of either or both of the Premises and the Property. This Section 9.2 does not authorize the
generation, transportation, storage, use, treatment or disposal of any Hazardous Materials at, to, from, on or in either or both of
the Premises and the Property, which, except for normal cleaning and office supplies used in the day to day operation of the
Premises, is expressly prohibited unless and then only to the extent expressly set forth below in this Section 9.2. Any
violation of the immediately preceding sentence shall constitute a Default, without any obligation to provide any notice thereof or
any opportunity to cure such failure to perform. Tenant covenants to investigate, clean up and otherwise remediate, at
Tenant’s sole expense, any release of Hazardous Materials caused, contributed to, or created by any or all of (A) Tenant and
(B) any or all of Tenant’s shareholders, officers, directors, members, managers, partners, invitees, guests, agents,
employees, contractors or representatives (“Tenant Parties”) during the Term. Such investigation and remediation shall
be performed only after Tenant has obtained Landlord’s prior written consent, which consent shall not be deemed a waiver by
Landlord of its remedies under this Lease or Law for any Default; provided, however, that Tenant shall be entitled to respond (in a
reasonably appropriate manner) immediately to an emergency without first obtaining such consent. All investigation and remediation
shall be performed in strict compliance with Laws and to the reasonable satisfaction of Landlord. In no event shall any remediation
of either or both of the Premises or the Property involve the use of any engineering control, institutional control, a groundwater
classification exception area, a well restriction area or natural attenuation, and the remediation shall only be deemed complete
upon the delivery to Landlord of a Response Action Outcome , as that term is defined in the Site Remediation Reform Act, N.J.S.A.
58:10C-2 and the regulations promulgated thereunder and any and all amending and successor legislation and regulations
(“SRRA”), issued by a Licensed Site Remediation Professional, as that term is defined in SRRA,, as well as evidence
reasonably satisfactory to Landlord that Tenant has addressed and paid for any and all natural resource damages attributable to the
actions or omissions of Tenant or Tenant Parties (and with respect to which natural resource damages Tenant shall have sole
liability or responsibility). Tenant shall not enter into any settlement agreement, consent decree or other compromise with respect
to any claims relating to any Hazardous Materials in any way connected with either or both of the Premises and the Property without
first obtaining Landlord’s written consent (which consent may be given or withheld in Landlord’s sole, but reasonable,
discretion) and affording Landlord the reasonable opportunity to participate in any such proceedings, all at the cost and expense of
Tenant, which Tenant shall pay (including, but not limited to, all legal and other professional and expert fees and expenses
incurred by Landlord in connection therewith) as Additional Rent, upon demand. As used herein, the term, “Hazardous
Materials,” shall mean any regulated substance, toxic substance, hazardous substance, hazardous waste, pollution, pollutant or
contaminant, as defined or referred to in any Law or Laws pertaining to the protection of human health or the environment,
including, without limitation, radon, asbestos, polychlorinated biphenyls, urea formaldehyde and petroleum products and petroleum
based derivatives. Where a Law defines any of these terms more broadly than another, the broader definition shall apply.
Notwithstanding anything to the contrary hereunder, and without waiving all other requirements set forth in this Lease and without
this provision being deemed a permission for Tenant to generate, transport, store, use, treat or dispose of any Hazardous Materials
at, to, from, on or in either or both of the Premises and the Property, Tenant shall be deemed the owner and generator of Hazardous
Materials at the Premises with sole responsibility for all legal and regulatory compliance concerning any and all Hazardous
Materials, including, without limitation, responsibility for proper training, storage, handling, labeling, distribution and
off-Property disposal

 

     

     

    

 

9.3                Environmental
Compliance. In addition to and not in limitation of the requirements set forth
above in this Section 9, Tenant shall, at its sole expense, comply with the Industrial Site Recovery Act, N.J.S.A. 13:1K-6 et
seq., and the regulations promulgated thereunder, and any and all amending and successor legislation and regulations
(“ISRA”). Tenant hereby represents and warrants to Landlord, and covenants with Landlord, that Tenant’s North
American Industrial Classification Number (“NAICS”) is 326199, and
that throughout the term of this Lease, Tenant shall not change the nature of Tenant’s operations at the Premises in a manner
that shall result in a change of Tenant’s NAICS number. Tenant’s obligations under ISRA shall arise if there is a
closing of operations, a transfer of ownership or operations, a change in ownership at or otherwise affecting the Premises pursuant
to ISRA, or any other action taken by Tenant that triggers ISRA (“Tenant Triggering Event”). In addition to and not in
limitation of any of the obligations of Tenant pursuant to Section 9, Tenant shall be obligated to comply with the provisions
of ISRA and Section 9, at its sole expense, should Landlord or any other tenant at the Property trigger ISRA by its actions
and discover any release of Hazardous Materials for which Tenant is responsible pursuant to the provisions of Section 9.2..
Should Tenant’s operations at the Premises be outside of those industrial operations covered by ISRA, Tenant shall, at
Tenant’s own expense, provide to Landlord, upon demand, a certification (the “Certification”) from Tenant’s
members, partners or officers, as the case may be, upon which Landlord may rely, that shall be in form and substance reasonably
satisfactory to Landlord, and that shall include all information provided for on the attached Exhibit D, and which
Certification shall establish that ISRA does not apply to Tenant’s operations . Should Tenant’s operations at the
Premises be operations that are covered by ISRA, then immediately upon a Tenant Triggering Event, Tenant shall, at its sole expense,
retain a Licensed Site Remediation Professional and take all actions necessary to promptly and diligently comply with ISRA. In
addition, provided this Lease is not previously cancelled or terminated by either party or by operation of Law, Tenant shall retain
a Licensed Site Remediation Professional and commence compliance with ISRA in anticipation of the end of the Lease, no later than
six (6) months prior to the Expiration Date. If prior to the expiration or earlier termination of the Lease, Tenant: (i) fails,
pursuant to ISRA and this Lease, to obtain and deliver to Landlord, either (A) the Certification, (B) a de minimis quantity
exemption issued by the NJDEP, or (C) a Response Action Outcome issued by a Licensed Site Remediation Professional, (the “ISRA
Clearance”); or (ii) fails to remediate all Hazardous Materials pursuant to the requirements of this Section 9, and
deliver to Landlord a Response Action Outcome (the “Environmental Clearance”); then upon the expiration or earlier
termination of the Lease, Landlord shall have the option, in addition to all other remedies available to Landlord under this Lease
and Law, either to consider this Lease as having ended or to treat Tenant as a hold-over tenant in possession of the Premises. If
Landlord considers this Lease as having ended, then Tenant shall nevertheless be obligated to promptly obtain and deliver to
Landlord the ISRA Clearance or the Environmental Clearance, as the case may be, and otherwise fulfill all of the obligations of
Tenant set forth in this Section 9. If Landlord treats Tenant as a hold-over tenant in possession of the Premises, then
Tenant shall pay, monthly to Landlord, double the Base Rent and Additional Rent which Tenant would otherwise have paid under this
Lease, until such time as Tenant delivers to Landlord the ISRA Clearance or the Environmental Clearance, as the case may be, and
otherwise fulfills its obligations to Landlord under this Section 9, and during the holdover period, all of the terms of this
Lease shall remain in full force and effect. Tenant shall, at no cost to Landlord, cooperate with Landlord by supplying any
information or signing any documentation that that may be requested by Landlord, and otherwise assisting Landlord with respect to
the compliance with ISRA by Landlord or any other tenant of the Property, in the event that Landlord or any other tenant of the
Property triggers ISRA by its actions. Notwithstanding any contrary provisions contained in this Lease, if Tenant fails to comply
with its ISRA obligations in accordance with the provisions of this Section 9, Landlord shall have the right to do so, at
Tenant’s sole expense, and all sums incurred or advanced by Landlord or Agent on account of Tenant pursuant to this Section
9, together with Default Interest, shall be payable by Tenant to Landlord or Agent, as Additional Rent, in accordance with the
provisions of Section 22.3 below.

 

Survival. The undertakings, covenants
and obligations imposed on Tenant under the Section 9 shall survive terminations or expirations of this Lease.

 

     

     

    

 

10.            
INSURANCE.

 

10.1            
Policies. Tenant shall purchase, at its own expense, and keep in force at all times during this Lease the policies of insurance
set forth below (collectively, “Tenant’s Policies”). All Tenant’s Policies shall (a) be issued by an insurance
company with a Best rating/financial size category of A/VIII or better and otherwise reasonably acceptable to Landlord and shall be licensed
to do business in the state in which the Premises is located; (b) provide for deductible amounts that are reasonably acceptable to Landlord
(and its lender, if applicable) and (c) otherwise be in such form, and include such coverages, as Landlord may reasonably require. The
Tenant’s Policies described in subsections 10.2(ii) and 10.2(iii) below shall (1) provide coverage on an occurrence basis; (2) except
as otherwise specifically provided below, name all of (x) Landlord, (y) First Industrial Realty Trust, Inc., but only during such period
of time as Landlord is an entity related to, or affiliated with, First Industrial Realty Trust, Inc., and (z) Landlord’s lender,
if applicable, as additional insureds; (3) provide coverage, to the extent insurable, for the indemnity obligations of Tenant under this
Lease; (4) contain a separation of insured parties provision; (5) be primary, not contributing with, and not in excess of, coverage that
Landlord may carry; and (6) provide coverage with no exclusion for a pollution incident arising from a hostile fire. Certified
copies of Tenant’s Policies (or, at Landlord’s option, Certificates of Insurance and applicable endorsements, including, without
limitation, an "Additional Insured-Managers or Landlords of Premises" endorsement) shall be delivered to Landlord prior
to the Commencement Date and renewals thereof shall be delivered to Landlord’s Corporate and Regional Notice Addresses (set forth
on the signature page of this Lease) at least 30 days prior to the applicable expiration date of each Tenant’s Policy. In the event
that Tenant fails, at any time or from time to time, to comply with the requirements of the preceding sentence, Landlord may (A) order
such insurance and charge the cost thereof to Tenant, which amount shall be payable by Tenant to Landlord upon demand, as Additional Rent
or (B) impose on Tenant, as Additional Rent, a monthly delinquency fee, for each month during which Tenant fails to comply with the foregoing
obligation, in an amount equal to ten percent (10%) of the Base Rent then in effect. Tenant shall give prompt notice to Landlord and Agent
of any bodily injury, death, personal injury, advertising injury or property damage occurring in and about the Premises. Tenant shall
provide written notice to Landlord in accordance with Section 24.2 below prior to the cancelation or material modification of any
of Tenant’s Policies.

 

10.2            
Coverages. Tenant shall purchase and maintain, throughout the Term, a Tenant’s Policy(ies) of:

 

(i)                  commercial
property insurance covering the improvements constructed, installed or located on the Premises (but excluding Tenant’s
Property). Such property insurance policy (the “Property Insurance”): (A) shall name Landlord (and its lender(s),
if applicable) as mortgagee/loss payee, as its (their respective) interest(s) may appear; (B) shall, at a minimum, cover both (x)
the Building and (y) all other improvements, of any nature, situated on the Premises at any time, or from time to time during the
Term, including, but not limited to, parking areas and landscaping (collectively, the “Insured Improvements”),
against direct physical loss, as would be insured against under a standard ISO Special Form (“all risk” coverage); (C)
shall be for no less than 100% of the Full Replacement Cost Value of the Building and the Insured Improvements, with an
 “agreed amount” endorsement; (D) shall include, at a minimum, the following extensions of coverage; building ordinance,
inclusive of demolition and increased cost of construction; terrorism; earthquake/earth movement; flood; and boiler and
machinery/equipment breakdown; (E) shall include business income and extra expense insurance for twelve (12) months of Rent and
operating expense reimbursement for that same twelve (12) month period; and (F) shall provide for a per occurrence deductible that
is no greater than $100,000.00. The policy limits and sublimits under the Property Insurance shall be acceptable to Landlord, in its
reasonable discretion. For purposes of this Lease, “Full Replacement Cost Value” shall be interpreted to mean the cost
of replacing the Premises without deduction for depreciation or wear and tear, less the cost of footings, foundations and other
structures below grade, which value shall be memorialized in a letter agreement (including an ACORD Certificate evidencing such
required insurance), to be executed by Landlord and Tenant not later than thirty (30) days after the Commencement Date, and which
value shall be trended-forward on each anniversary of the Commencement Date using the trending criteria generally applied by FM
Global or other recognized insurance consultants;

 

     

     

    

 

(ii)               
commercial general liability insurance, including bodily injury and property damage, in the amount of not less than $2,000,000.00
per occurrence, and $5,000,000.00 annual general aggregate (these limits may be achieved by a combination of primary policy and an excess
or umbrella liability policy); 

 

(iii)             
business auto liability insurance covering Tenant’s owned, hired and non-owned autos against any personal injuries or
deaths of persons and property damage based upon or arising out of the ownership, use, occupancy or maintenance of a motor vehicle at
the Premises and all areas appurtenant thereto in the amount of not less than $1,000,000, combined single limit;

 

(iv)              
commercial property insurance covering Tenant’s personal property and any other contents on or about the Premises under
Tenant’s care, custody or control (at its full replacement cost);

 

(v)               
workers’ compensation insurance per the applicable state statutes covering all employees of Tenant;

 

(vi)              
if Tenant handles, stores or utilizes Hazardous Materials in its business operations, pollution legal liability insurance with
limits acceptable to Landlord; and 

 

(vii)            
during any period of construction or during which any Alterations are being made, builder’s risk or installation
floater coverage in an amount equal to or greater than the cost of such Alterations or other work or improvements performed on the Premises
by Tenant or Tenant’s contractor.

 

(viii)          
Notwithstanding anything to the contrary contained in this Section 10, upon the occurrence of a Default, Landlord
shall have the right to, upon written notice to Tenant, purchase the aforementioned Tenant’s Policies on Tenant’s behalf and
charge the cost thereof to Tenant, which amounts shall be payable by Tenant to Landlord, upon demand as Additional Rent.

 

10.3            
Blanket Policies. Notwithstanding anything to the contrary contained in this Section 10, Tenant's obligation to carry
insurance may be satisfied by coverage under a so-called "blanket policy" or policies of insurance; provided, however, that
all insurance certificates provided by Tenant to Landlord pursuant to Section 10.1 above shall reflect that Tenant has been afforded
coverage specifically with respect to the Premises.

 

10.4             Waiver
of Subrogation. Notwithstanding anything to the contrary in this Lease, Tenant waives its rights of recovery, if any, against
Landlord and its (a) officers, directors, constituent partners, members, agents and employees, (b) each lessor under any ground or
underlying lease encumbering the Property and (c) each lender under any mortgage or deed of trust or other lien encumbering the
Property (or any portion thereof or interest therein), for any Losses (defined in Section 17.2 below) to the extent any such
Losses are insured against or required to be insured against under this Lease; including, but not limited to, Losses, deductibles or
self-insured retentions covered by any or all of Tenant’s commercial property, business income/extra expense/rental value
insurance, commercial general liability, business auto liability, workers’ compensation or employers’ liability policies
described above. This provision is intended to waive, fully and for the benefit Landlord, any and all rights and claims that might
give rise to a right of subrogation by any insurance carrier. Tenant shall cause its respective insurance policy(ies) to be endorsed
to evidence compliance with such waiver.

 

     

     

    

 

11.            
ALTERATIONS.

 

Tenant may, from time to time, at its
expense, make alterations or improvements in and to the Premises (hereinafter collectively referred to as “Alterations”),
provided that Tenant first obtains the written consent of Landlord. All of the following shall apply with respect to all Alterations:
(a) the Alterations are non-structural and the structural integrity of the Property shall not be affected; (b) the Alterations are to
the interior of the Premises; (c) the proper functioning of the mechanical, electrical, heating, ventilating, air-conditioning (“HVAC”),
sanitary and other service systems of the Property shall not be affected and the usage of such systems by Tenant shall not be increased;
and (d) Tenant shall have appropriate insurance coverage, reasonably satisfactory to Landlord, regarding the performance and installation
of the Alterations. Additionally, before proceeding with any Alterations, Tenant shall (i) at Tenant’s expense, obtain all necessary
governmental approvals, permits and certificates for the commencement and prosecution of Alterations; (ii) if Landlord’s consent
is required for the planned Alteration, submit to Landlord, for its written approval, working drawings, plans and specifications and all
approvals, permits and certificates for the work to be done and Tenant shall not proceed with such Alterations until it has received Landlord’s
approval (if required); and (iii) cause those contractors, materialmen and suppliers engaged to perform the Alterations to deliver to
Landlord certificates of insurance (in a form reasonably acceptable to Landlord) evidencing policies of commercial general liability insurance
and workers’ compensation insurance. Such insurance policies shall satisfy all obligations imposed under Section 10.2. Tenant,
at its sole expense, shall cause the Alterations to be performed in compliance with all applicable approvals, permits, Laws and requirements
of public authorities, and with Landlord’s reasonable rules and regulations or any other restrictions that Landlord may impose on
the Alterations and free of all construction liens and all other liens or encumbrances. Tenant shall cause the Alterations to be diligently
performed in a good and workmanlike manner, using new materials and equipment at least equal in quality and class to the standards for
the Property established by Landlord. With respect to any and all Alterations for which Landlord’s consent is required, Tenant shall
provide Landlord with “as built” plans (upon completion), copies of all construction contracts, governmental approvals, permits
and certificates and proof of payment for all labor and materials, including, without limitation, copies of paid invoices and final lien
waivers. If Landlord’s consent to any Alterations is required, and Landlord provides that consent, then at the time Landlord so
consents, Landlord shall also advise Tenant whether or not Landlord shall require that Tenant remove such Alterations at the expiration
or termination of this Lease. If Landlord requires Tenant to remove the Alterations, then, during the remainder of the Term, Tenant shall
be responsible for the maintenance of appropriate commercial property insurance (pursuant to Section 10.2.) therefor; however,
if Landlord shall not require that Tenant remove the Alterations, such Alterations shall constitute Landlord’s Property (defined
below) and Landlord shall be responsible for the insurance thereof, pursuant to Section 10.1..

 

Notwithstanding
any contrary provisions contained in this Lease in no event shall Landlord’s consent to any Alterations or approval of any plans,
specifications, work orders or any other documents in connection with any Alterations constitute written authorization by Landlord of
any contract entered into by Tenant for or in connection with any such Alterations pursuant to N.J.S.A. 2A:44A-3.

 

12.            
LANDLORD’S AND TENANT’S PROPERTY.

 

All fixtures, machinery,
equipment, improvements and appurtenances attached to, or built into, the Premises at the commencement of, or during the Term,
whether or not placed there by or at the expense of Tenant, shall become and remain a part of the Premises; shall be deemed the
property of Landlord (the “Landlord’s Property”), without compensation or credit to Tenant; and shall not
be removed by Tenant at the Expiration Date unless Landlord requires their removal (including, but not limited to, Alterations
pursuant to Section 11). Further, any personal property in the Premises on the Commencement Date, movable or otherwise,
unless installed and paid for by Tenant, shall also constitute Landlord’s Property and shall not be removed by Tenant. For
purposes of this Lease, any references to “Tenant’s Property” shall mean any personal property for which Tenant
has itself paid or manufactured, together with any machinery and equipment for which Tenant has paid and that is not attached to, or
built into, the Premises. In no event shall Tenant remove any of the following materials or equipment without Landlord’s prior
written consent (which consent may be given or withheld in Landlord’s sole discretion): any power wiring or power panels,
lighting or lighting fixtures, wall or window coverings, carpets or other floor coverings, heaters, air conditioners or any other
HVAC equipment, fencing or security gates, or other similar building operating equipment and decorations. At or before the
Expiration Date, or the date of any earlier termination, Tenant, at its expense, shall remove from the Premises all of
Tenant’s Property and any Alterations that Landlord requires be removed pursuant to Section 11, and Tenant shall repair
(to Landlord’s reasonable satisfaction) any damage to the Premises or the Property resulting from either or both of such
installation and removal. Any other items of Tenant’s Property that remain in the Premises after the Expiration Date, or
following an earlier termination date, may, at the option of Landlord, be deemed to have been abandoned, and in such case, such
items of Tenant’s Property may be retained by Landlord as its property or be disposed of by Landlord, in Landlord’s sole
and absolute discretion and without accountability, at Tenant’s expense. Notwithstanding the foregoing, if Tenant is in
default under the terms of this Lease, Tenant may remove Tenant’s Property from the Premises only upon the express written
direction of Landlord.

 

     

     

    

 

13.            
REPAIRS AND MAINTENANCE.

 

13.1            
Tenant Repairs and Maintenance.

 

13.1.1       
Tenant Responsibilities. Except for events of damage, destruction or casualty to the Premises or Property that are addressed
in Section 18, throughout the Term, Tenant shall, at its sole cost and expense both (x) maintain and preserve, in the same condition
as exists on the Commencement Date, subject to normal and customary wear and tear (the “Same Condition”), and (y) perform
any and all repairs and replacements required in order to so maintain and preserve, in the Same Condition, the Premises and the fixtures
and appurtenances therein (including, but not limited to, the Premises’ plumbing, electrical and HVAC systems, all doors, overhead
or otherwise, glass and levelers located in the Premises or otherwise available in the Property for Tenant’s sole use; and excluding,
however, only those specific components of the Premises for which Landlord is expressly responsible to perform under Section 13.2).
In addition to Tenant’s obligations above, Tenant shall also be responsible for all costs and expenses incurred to perform any and
all repairs and replacements (whether structural or non-structural; interior or exterior; and ordinary or extraordinary), in and to the
Premises and the Property and the facilities and systems thereof, if and to the extent that the need for such repairs or replacements
arises directly or indirectly from any act, omission, misuse, or neglect of any or all of Tenant, any of its subtenants or the Tenant
Parties, or others entering into, or utilizing, all or any portion of the Premises for any reason or purpose whatsoever, including, but
not limited to (a) the performance or existence of any Alterations, (b) the installation, use or operation of Tenant’s Property
in the Premises and (c) the moving of Tenant’s Property in or out of the Property, (collectively, “Tenant-Related Repairs”).
All such repairs or replacements required under this Section 13.1.1 shall be subject to the supervision and control of Landlord,
shall be made with materials of equal or better quality than the items being repaired or replaced and shall be performed in compliance
with all of the terms and conditions set forth in Section 11(d) and the succeeding four sentences of Section 11.

 

13.1.2       
General Maintenance Services. Notwithstanding any of the foregoing, however, from time to time during the Term, Landlord
may elect, in its sole discretion and by delivery of written notice to Tenant, to perform on behalf of Tenant, all or some portion of
the repairs, maintenance, restoration and replacement in and to the Premises required to be performed by Tenant under this Lease, (any
such repairs, maintenance, restoration and/or replacement activities that Landlord elects to perform on behalf of Tenant are herein collectively
referred to as “General Maintenance Services”). Tenant shall reimburse Landlord for the cost or value of all General
Maintenance Services provided by Landlord as Additional Rent, simultaneously with the payment of Operating Expenses as part of Estimated
Additional Rent (on a monthly estimated basis subject to annual reconciliation, as described in Section 3.3 above). Unless and
until Landlord affirmatively elects to provide General Maintenance Services, nothing contained herein shall be construed to obligate Landlord
to perform any General Maintenance Services or, except as otherwise expressly provided in Section 13.2, to repair, maintain, restore
or replace any portion of the Premises. Landlord may from time to time, in its sole discretion, (x) reduce or expand the scope of the
General Maintenance Services that Landlord has elected to provide or (y) revoke its election to provide any or all of the General Maintenance
Services, in either event, upon delivery of not less than thirty (30) days’ prior written notice to Tenant.

 

13.2             Landlord
Repairs. Notwithstanding anything to the contrary stated herein, Landlord shall repair, replace and restore the (a)
foundation, exterior and interior load-bearing walls, roof structure and roof covering of the Property and (b) the Common Areas;
provided, however, that in the case of both (a) and (b): (i) all costs and expenses so incurred by Landlord to repair, replace and
restore the above items shall constitute Operating Expenses; provided, however, that with respect to any costs incurred in the
replacement context, those costs shall not constitute an Operating Expense except to the extent that such costs so qualify under Section
3.1.1(v); and (ii) notwithstanding (i) above, in the event that any such repair, replacement or restoration is a Tenant-Related
Repair, then Tenant shall be required to reimburse Landlord for all costs and expenses that Landlord incurs in order to perform such
Tenant-Related Repair, and such reimbursement shall be paid, in full, within 10 days after Landlord’s delivery of demand
therefor. Landlord shall be under no obligation to effect any repairs or replacements, or to undertake any maintenance, with respect
to either or both of the Premises and the Property unless and until Landlord has received written notice from Tenant of the need
therefor.

 

     

     

    

 

13.3            
HVAC Maintenance. Landlord shall maintain, at Tenant’s sole cost and expense, a preventative maintenance and service
contract for maintenance of the HVAC systems of the Premises, which contract shall provide for a minimum of four inspections per year
(the “HVAC Maintenance Contract”). All costs and expenses incurred in connection with the HVAC Maintenance Contract
will be charged directly to Tenant by Landlord and paid by Tenant as Additional Rent, upon demand.

 

14.            
UTILITIES.

 

Tenant shall purchase all utility services
and shall provide for scavenger, cleaning and extermination services. Tenant shall pay the utility charges for its Premises directly to
the utility or municipality providing such service before they become delinquent. Tenant shall be solely responsible for the repair and
maintenance of any meters necessary in connection with such utility services to the Premises. Tenant’s use of electrical energy
in the Premises shall not, at any time, exceed the capacity of either or both of (x) any of the electrical conductors and equipment in
or otherwise servicing the Premises; and (y) the HVAC systems of either or both of the Premises and the Property.

 

If Landlord is required by law to perform
energy benchmarking of the Premises, Tenant hereby authorizes Landlord to obtain information, from time to time throughout the Term, regarding
Tenant's utility and energy usage at the Premises directly from the applicable utility providers and Tenant shall execute, within five
(5) days of Landlord's request, any additional documentation required by any applicable utility provider evidencing such authorization. 
Further, throughout the Term, (i) within five (5) days of Landlord's request, Tenant shall provide to Landlord all requested information
regarding Tenant's utility, energy and space usage at the Premises, and (ii) upon Landlord's delivery to Tenant of written request,
Tenant shall deliver to Landlord copies of its utilities bills for the immediately preceding twelve (12) calendar months.

 

15.            
INVOLUNTARY CESSATION OF SERVICES.

 

Landlord reserves the right, without
any liability to Tenant and without affecting Tenant’s covenants and obligations hereunder, to stop service of any or all of the
HVAC, electric, sanitary, elevator (if any), and other systems serving the Premises, or to stop any other services required by Landlord
under this Lease, whenever and for so long as may be necessary by reason of (i) accidents, emergencies, strikes, or the making of repairs
or changes which Landlord or Agent, in good faith, deems necessary or (ii) any other cause beyond Landlord’s reasonable control.
Further, it is also understood and agreed that Landlord or Agent shall have no liability or responsibility for a cessation of services
to the Premises or to the Property that occurs as a result of causes beyond Landlord’s or Agent’s reasonable control. No such
interruption of service shall be deemed an eviction or disturbance of Tenant’s use and possession of the Premises or any part thereof,
or render Landlord or Agent liable to Tenant for damages, or relieve Tenant from performance of Tenant’s obligations under this
Lease, including, but not limited to, the obligation to pay Rent; provided, however, that if any interruption of services persists for
a period in excess of five (5) consecutive business days Tenant shall, as Tenant’s sole remedy, be entitled to a proportionate abatement
of Rent to the extent, if any, of any actual loss of use of the Premises by Tenant.

 

     

     

    

 

16.            
LANDLORD’S RIGHTS.

 

Landlord, Agent and their
respective agents, employees and representatives shall have the right to enter and/or pass through the Premises at any time or times
upon reasonable prior notice (except in the event of emergency): (a) to examine and inspect the Premises and to show them to actual
and prospective lenders, prospective purchasers or mortgagees of the Property or providers of capital to Landlord and its
affiliates; and in connection with the foregoing, to install a sign at or on the Property to advertise the Property for lease or
sale; (b) to make such repairs, alterations, additions and improvements in or to all or any portion of either or both of the
Premises and the Property, or the Property’s facilities and equipment as Landlord is required or desires to make. During the
period of nine (9) months prior to the Expiration Date (or at any time, if Tenant has vacated or abandoned the Premises or is
otherwise in default under this Lease), Landlord and its agents may exhibit the Premises to prospective tenants. Additionally,
Landlord and Agent shall have the following rights with respect to the Premises, exercisable without notice to Tenant, without
liability to Tenant, and without being deemed an eviction or disturbance of Tenant’s use or possession of the Premises or
giving rise to any claim for setoff or abatement of Rent: (i) to have pass keys, access cards, or both, to the Premises; and (ii) to
decorate, remodel, repair, alter or otherwise prepare the Premises for reoccupancy at any time after Tenant vacates or abandons the
Premises for more than thirty (30) consecutive days or without notice to Landlord of Tenant’s intention to reoccupy the
Premises.

 

17.            
NON-LIABILITY AND INDEMNIFICATION; FORCE MAJEURE.

 

17.1            
Non-Liability. Subject to Landlord’s indemnity under Section 18.3, none of the Landlord Indemnified Parties (defined
below) shall be liable to Tenant for any Loss to Tenant or to any other person, or to its or their property, irrespective of the cause
of such Loss. In the event that Landlord’s indemnity under Section 18.3 is applicable, it shall apply only as and to the
specific extent expressly provided in Section 18.3. Further, none of the Landlord Indemnified Parties shall be liable to Tenant
or to any other person (a) for any damage caused by other tenants or persons in, upon or about the Property, or caused by operations in
construction of any public or quasi-public work; (b) with respect to matters for which Landlord is liable, for consequential, punitive
or indirect damages, including those purportedly arising out of any loss of use of the Premises or any equipment or facilities therein
by Tenant or any person claiming through or under Tenant; (c) for any defect, latent or otherwise, in the Premises or the Property; or
(d) for injury or damage to person or property caused by fire, or theft, or resulting from the operation of heating or air conditioning
or lighting apparatus, or from falling plaster, or from steam, gas, electricity, water, rain, snow, ice, or dampness, that may leak or
flow from any part of the Property, or from the pipes, appliances or plumbing work of the same.

 

     

     

    

 

17.2             Tenant
Indemnification. Except in the event of, and to the extent of, Landlord’s gross negligence, sole negligence or willful
misconduct, Tenant hereby indemnifies, defends, and holds Landlord, Agent, Landlord’s members and their respective affiliates,
owners, partners, members, directors, officers, agents and employees (collectively, “Landlord Indemnified
Parties”) harmless from and against any and all Losses (defined below) arising from or in connection with any or all of:
(a) the conduct or management of either or both the Property and the Premises or any business therein, or any work or Alterations
done, or any condition created by any or all of Tenant and Tenant’s Parties in or about the Premises, or the Property, during
the Term or during the period of time, if any, prior to the Commencement Date that Tenant has possession of, or is given access to,
the Premises; (b) any act, omission or negligence of any or all of Tenant and Tenant’s Parties; (c) any accident, injury or
damage whatsoever occurring in, at or upon either or both of the Property and the Premises and caused by any or all of Tenant and
Tenant’s Parties. Tenant also indemnifies, defends, and holds the Landlord Indemnified Parties harmless from and against any
and all Losses arising from or in connection with any or all of: (i) any breach by Tenant of any or all of its warranties,
representations and covenants under this Lease; (ii) any actions necessary to protect Landlord’s interest under this Lease in
a bankruptcy proceeding or other proceeding under the Bankruptcy Code; (iii) the creation or existence, or release of any Hazardous
Materials in, at, on or under the Premises or the Property, if and to the extent brought to the Premises or the Property or caused
by Tenant or any Tenant’s parties; and (iv) any violation or alleged violation by any or all of Tenant and Tenant’s
Parties of any Law. The obligations of Tenant in the two prior sentences are referred to collectively as “Tenant’s
Indemnified Matters.” In case any action or proceeding is brought against any or all of Landlord and the Landlord
Indemnified Parties by reason of any of Tenant’s Indemnified Matters, Tenant, upon notice from any or all of Landlord, Agent
or any Superior Party (defined below), shall resist and defend such action or proceeding by counsel reasonably satisfactory to, or
selected by, Landlord. The term “Losses” shall mean all claims, demands, expenses, actions, judgments, damages
(actual, but except in connection with third party tort claims, or government claims, not indirect, special, consequential, or
punitive), natural resource damages, penalties, fines, liabilities, losses of every kind and nature, suits, administrative
proceedings, costs and fees, including, without limitation, attorneys’ and consultants’ reasonable fees and expenses,
and the costs of investigation, cleanup, remediation, removal and restoration, that are in any way related to any matter covered by
the foregoing indemnity. The provisions of this Section 18.2 shall survive the expiration or termination of this Lease.

 

17.3            
Landlord Indemnification and Limitation of Landlord’s Liability. Landlord hereby indemnifies, defends and holds Tenant
harmless from and against any and all Losses actually suffered or incurred by Tenant as the sole and direct result of Landlord’s
gross negligence, sole negligence or willful misconduct. Notwithstanding anything to the contrary set forth in this Lease, however, in
all events and under all circumstances, the liability of Landlord to Tenant, whether under this Section 18.3 or any other provision
of this Lease, shall be limited to the interest of Landlord in the Property, and Tenant agrees to look solely to Landlord’s interest
in the Property for the recovery of any judgment or award against Landlord, it being intended that Landlord shall not be personally liable
for any judgment or deficiency. The provisions of this Section 18.3 shall survive the expiration or termination of this Lease.

 

17.4            
Force Majeure. Each of the obligations of Tenant (except the obligation to pay Rent and the obligation to maintain insurance,
and provide evidence thereof, in accordance with Section 10.2.) and each of the obligations of Landlord, shall be excused, and
neither Landlord nor Tenant shall have any liability whatsoever to the other, to the extent that any failure to perform, or delay in performing
such obligation arises out of either or both of (a) any labor dispute, governmental preemption of property in connection with a public
emergency or shortages of fuel, supplies, or labor, or any other cause, whether similar or dissimilar, beyond Landlord’s or Tenant’s,
as the case may be, reasonable control; or (b) any failure or defect in the supply, quantity or character of utilities furnished to the
Premises, or by reason of any requirement, act or omission of any public utility or others serving the Property, beyond Landlord’s
or Tenant’s, as the case may be, reasonable control.

 

     

     

    

 

18.            
DAMAGE OR DESTRUCTION.

 

18.1            
Notification and Repair; Rent Abatement. Tenant shall give prompt notice to Landlord and Agent of (a) any fire or other casualty
to the Premises or the Property, and (b) any damage to, or defect in, any part or appurtenance of the Property’s sanitary, electrical,
HVAC, elevator or other systems located in or passing through the Premises or any part thereof. In the event that, as a result of Tenant’s
failure to promptly notify Landlord pursuant to the preceding sentence, Landlord’s insurance coverage is compromised or adversely
affected, then Tenant is and shall be responsible for the payment to Landlord of any insurance proceeds that Landlord’s insurer
fails or refuses to pay to Landlord as a result of the delayed notification. Subject to the provisions of Section 19.2 below, if
either or both of the Property and the Premises is damaged by fire or other insured casualty, Landlord shall repair (or cause Agent to
repair) the damage and restore and rebuild the Property and/or the Premises (except Tenant’s Property) with reasonable dispatch
after the adjustment of the insurance proceeds attributable to such damage. Landlord (or Agent, as the case may be) shall use its diligent
and good faith efforts to make such repair or restoration promptly and in such manner as not to unreasonably interfere with Tenant’s
use and occupancy of the Premises, but Landlord or Agent shall not be required to do such repair or restoration work except during normal
business hours of business days. Provided that any damage to either or both of the Property and the Premises is not caused by, or is not
the result of acts or omissions by, any or all of Tenant and Tenant’s Parties, if (i) the Property is damaged by fire or other casualty
thereby causing the Premises to be inaccessible or (ii) the Premises are partially damaged by fire or other casualty, the Rent shall be
proportionally abated to the extent of any actual loss of use of the Premises by Tenant.

 

18.2            
Total Destruction. If the Property or the Premises shall be totally destroyed by fire or other casualty, or if the Property
shall be so damaged by fire or other casualty that (in the reasonable opinion of a reputable contractor or architect designated by Landlord):
(i) its repair or restoration of the Premises requires more than one hundred eighty (180) days or (ii) such repair or restoration requires
the expenditure of more than (a) eighty percent (80%) of the full insurable value of the Premises on file with Landlord’s insurer
immediately prior to the casualty or (b) fifty percent (50%) of the full insurable value of the Property immediately prior to the casualty,
Landlord and Tenant shall each have the option to terminate this Lease (by so advising the other, in writing) within ten (10) days after
said contractor or architect delivers written notice of its opinion to Landlord and Tenant, but in all events prior to the commencement
of any restoration of the Premises or the Property by Landlord. Additionally, if the damage (x) is less than the amount stated in (ii)
above, but more than ten percent (10%) of the full insurable value of the Property; and (y) occurs during the last two years of Lease
Term, then Landlord, but not Tenant, shall have the option to terminate this Lease pursuant to the notice and within the time period
established pursuant to the immediately preceding sentence. In the event of a termination pursuant to either of the preceding two (2)
sentences,the termination shall be effective as of the date upon which either Landlord or Tenant, as the case may be, receives timely
written notice from the other terminating this Lease pursuant to the preceding two (2) sentences. If neither Landlord nor Tenant timely
delivers a termination notice, this Lease shall remain in full force and effect. Notwithstanding the foregoing, if (A) any holder of
a mortgage or deed of trust encumbering the Property or landlord pursuant to a ground lease encumbering the Property (collectively, “Superior
Parties”) or other party entitled to the insurance proceeds fails to make such proceeds available to Landlord in an amount
sufficient for restoration of the Premises or the Property, or (B) the issuer of any commercial property insurance policies on the Property
fails to make available to Landlord sufficient proceeds for restoration of the Premises or the Property, then Landlord may, at Landlord’s
sole option, terminate this Lease by giving Tenant written notice to such effect within 30 days after Landlord receives notice from the
Superior Party or insurance company, as the case may be, that such proceeds shall not be made available, in which event the termination
of this Lease shall be effective as of the date Tenant receives written notice from Landlord of Landlord’s election to terminate
this Lease. Landlord shall have no liability to Tenant for, and Tenant shall not be entitled to terminate this Lease by virtue of, any
delays in completion of repairs and restoration. For purposes of this Section 19.2 only, “full insurable value”
shall mean replacement cost, less the cost of footings, foundations and other structures below grade.

 

     

     

    

 

19.            
EMINENT DOMAIN.

 

If the whole, or any substantial (as
reasonably determined by Landlord) portion, of the Property is taken or condemned for any public use under any Law or by right of eminent
domain, or by private purchase in lieu thereof, and such taking would prevent or materially interfere with the Permitted Use of the Premises,
this Lease shall terminate effective when the physical taking of said Premises occurs. If less than a substantial portion of the Property
is so taken or condemned, or if the taking or condemnation is temporary (regardless of the portion of the Property affected), this Lease
shall not terminate, but the Rent payable hereunder shall be proportionally abated to the extent of any actual loss of use of the Premises
by Tenant. Landlord shall be entitled to any and all payment, income, rent or award, or any interest therein whatsoever, which may be
paid or made in connection with such a taking or conveyance, and Tenant shall have no claim against Landlord, or the condemning authority
for the value of any unexpired portion of this Lease. Notwithstanding the foregoing, any compensation specifically and independently awarded
to Tenant for relocation expenses, or for Tenant’s Property, shall be the property of Tenant, provided that such award does not
diminish or otherwise adversely affect any award to Landlord.

 

20.            
SURRENDER AND HOLDOVER.

 

On the last day of the Term, or upon
any earlier termination of this Lease, or upon any re-entry by Landlord upon the Premises: (a) Tenant shall quit and surrender the Premises
to Landlord “broom-clean” (as defined by Exhibit B attached hereto and incorporated herein by reference), and in a condition
that would reasonably be expected in Landlord’s sole discretion, with normal and customary use in accordance with (i) prudent operating
practices and (ii) the covenants and requirements imposed under this Lease, subject only to ordinary wear and tear (as is attributable
to deterioration by reason of time and use, in spite of Tenant’s reasonable care), and such damage or destruction as Landlord is
required to repair or restore under this Lease; (b) Tenant shall remove all of Tenant’s Property therefrom, except as otherwise
expressly provided in this Lease; and (c) Tenant shall surrender to Landlord any and all keys, access cards, computer codes or any other
items used to access the Premises. Landlord shall be permitted to inspect the Premises in order to verify compliance with this Section
21 at any time prior to (x) the Expiration Date, (y) the effective date of any earlier termination of this Lease, or (z) the surrender
date otherwise agreed to in writing by Landlord and Tenant. The obligations imposed under the first sentence of this Section 21
shall survive the termination or expiration of this Lease. If Tenant remains in possession after the Expiration Date hereof or after any
earlier termination date of this Lease or of Tenant’s right to possession: (A) Tenant shall be deemed a tenant-at-will; (B) Tenant
shall pay 200% of the aggregate of all Rent last prevailing hereunder for the entire calendar month, and also shall pay all actual damages
sustained by Landlord, directly by reason of Tenant’s remaining in possession after the expiration or termination of this Lease;
(C) there shall be no renewal or extension of this Lease by operation of law; and (D) the tenancy-at-will may be terminated by either
party hereto upon 30 days’ prior written notice given by the terminating party to the non-terminating party. The provisions of this
Section 21 shall not constitute a waiver by Landlord of any re-entry rights of Landlord provided hereunder or by Law and shall
survive the expiration or sooner termination of this Lease.

 

 

     

     

    

 

21.            
EVENTS OF DEFAULT.

  

21.1            
 Bankruptcy of Tenant. It shall be a default by Tenant under this Lease (“Default” or “Event of
Default”) if Tenant makes an assignment for the benefit of creditors, or files a voluntary petition under any state or federal
bankruptcy (including the United States Bankruptcy Code) or insolvency law, or an involuntary petition is filed against Tenant under any
state or federal bankruptcy (including the United States Bankruptcy Code) or insolvency law that is not dismissed within ninety (90) days
after filing, or whenever a receiver of Tenant or of or for the property of Tenant shall be appointed, or Tenant admits it is insolvent
or is not able to pay its debts as they mature.

 

21.2            
Default Provisions. In addition to any Default arising under Section 21.1 above, each of the following shall constitute
a Default: (a) if Tenant fails to pay Rent or any other payment when due hereunder within five (5) days after written notice from Landlord
of such failure to pay on the due date; provided, however, that if in any consecutive twelve (12) month period, Tenant shall, on two (2)
separate occasions, fail to pay any installment of Rent on the date such installment of Rent is due, then, on the third such occasion
and on each occasion thereafter on which Tenant shall fail to pay an installment of Rent on the date such installment of Rent is due,
Landlord shall be relieved from any obligation to provide notice to Tenant, and Tenant shall then no longer have a five day period in
which to cure any such failure; (b) if Tenant fails, whether by action or inaction, to timely comply with, or satisfy, any or all of the
obligations imposed on Tenant under this Lease (other than the obligation to pay Rent) for a period of thirty (30) days after Landlord’s
delivery to Tenant of written notice of such default under this Section 21.2(b); provided, however, that if the default cannot,
by its nature, be cured within such thirty (30) day period, but Tenant commences and diligently pursues a cure of such default promptly
within the initial thirty (30) day cure period, then Landlord shall not exercise its remedies under Section 22 unless such default
remains uncured for more than sixty (60) days after the initial delivery of Landlord’s original default notice; and, at Landlord’s
election; (c) if Tenant vacates or abandons the Premises during the Term; (d) . It shall be an automatic Event of Default under this Lease
(for which no notice or cure period shall be required) in the event that (i) Tenant transfers all of some portion of its assets to another
party, regardless of a.) the nature of the assets and b.) whether that transferee is an affiliate of Tenant or an unrelated third party,
and (ii) as a result (directly or indirectly) of such transfer, Tenant no longer has sufficient assets to permit Tenant to timely and
fully satisfy the obligations (monetary or otherwise) imposed on it under this Lease.

 

22.            
RIGHTS AND REMEDIES.

 

22.1            
Landlord’s Cure Rights Upon Default of Tenant. If a Default occurs, then Landlord may (but shall not be obligated to)
cure or remedy the Default for the account of, and at the expense of, Tenant, but without waiving such Default.

 

22.2            
Landlord’s Remedies. In the event of any Default by Tenant under this Lease, Landlord, at its option, may, in addition
to any and all other rights and remedies provided in this Lease or otherwise at law or in equity, do or perform any or all of the following:

 

22.2.1       
Terminate this Lease and/or Terminate Tenant’s right to possession of the Premises by any lawful means, in which case
this Lease shall terminate and Tenant shall immediately surrender possession to Landlord. In such event, Landlord shall be entitled to
recover from Tenant all of: (i) the unpaid Rent that is accrued and unpaid as of the date on which this Lease is terminated; (ii) the
worth, at the time of award, of the amount by which (x) the unpaid Rent that would otherwise be due and payable under this Lease (had
this Lease not been terminated) for the period of time from the date on which this Lease is terminated through the Expiration Date exceeds
(y) the amount of such rental loss that the Tenant proves could have been reasonably mitigated; and (iii) any other amount necessary
to compensate Landlord for all the detriment proximately caused by the Tenant’s failure to perform its obligations under this Lease
or which, in the ordinary course of events, would be likely to result therefrom, including but not limited to, the cost of recovering
possession of the Premises, expenses of reletting, including renovation and alteration of the Premises, reasonable attorneys’ fees,
and that portion of any leasing commission paid by Landlord in connection with this Lease applicable to the unexpired Term (as of the
date on which this Lease is terminated). The worth, at the time of award, of the amount referred to in provision (ii) of the immediately
preceding sentence shall be computed by discounting such amount at the current yield, as of the date on which this Lease is terminated
under this Section 23.2.1, on United States Treasury Bills having a maturity date closest to the stated Expiration Date of this
Lease, plus one percent per annum. Efforts by Landlord to mitigate damages caused by Tenant’s Default shall not waive Landlord’s
right to recover damages under this Section 23.2.1. If this Lease is terminated through any unlawful entry and detainer action,
Landlord shall have the right to recover in such proceeding any unpaid Rent and damages as are recoverable in such action, or Landlord
may reserve the right to recover all or any part of such Rent and damages in a separate suit; or

  

     

     

    

 

22.2.2       
Continue the Lease and either (a) continue Tenant’s right to possession or (b) terminate Tenant’s right to possession
and in the case of either (a) or (b), recover the Rent as it becomes due. Acts of maintenance, efforts to relet, and/or the appointment
of a receiver to protect the Landlord’s interests shall not constitute a termination of the Tenant’s right to possession;
or

 

22.2.3       
Pursue any other remedy now or hereafter available under the laws of the state in which the Premises are located.

 

22.2.4       
Without limitation of any of Landlord’s rights in the event of a Default by Tenant, Landlord may also exercise its rights
and remedies with respect to any Security under Section 4.6 above.

 

22.2.5       
In no event shall Tenant be entitled to any surplus arising from Landlord’s re-renting the Premises, regardless of whether
Landlord terminates Tenant’s rights and/or this Lease, as provided for in Section 22.2.1 above, or whether Landlord continues
this Lease, as provided for in Section 22.2.2 above.

 

Any and all of Tenant’s Property
that may be removed from the Premises by Landlord pursuant to the authority of this Lease or of Law may be handled, removed, disposed
of and/ or stored by Landlord at the sole risk, cost and expense of Tenant, and in no event or circumstance shall Landlord be responsible
for the value, preservation or safekeeping thereof. Tenant shall pay to Landlord, upon demand, any and all expenses incurred in such handling,
removal, or disposal and all storage charges for such Tenant’s Property so long as the same shall be in Landlord’s possession
or under Landlord’s control. Any Tenant’s Property not removed from the Premises as of the Expiration Date or any other earlier
date on which this Lease is terminated shall be conclusively presumed to have been conveyed by Tenant to Landlord under this Lease as
in a bill of sale, without further payment or credit by Landlord to Tenant, and/or at Landlord’s election (which Landlord may elect
whole or in part with respect to Tenant’s Property) shall be deemed abandoned by Tenant and disposed of by Landlord as it sees fit
in its sole and absolute discretion. Neither expiration nor termination of this Lease, nor the termination of Tenant’s right to
possession, shall relieve Tenant from its liability under the indemnity provisions of this Lease.

 

22.3            
Additional Rights of Landlord. All sums advanced by Landlord or Agent on account of Tenant under this Section, or pursuant
to any other provision of this Lease, and all Base Rent and Additional Rent, if delinquent or not paid by Tenant and received by Landlord
when due hereunder, shall bear interest (“Default Interest”) at the rate of five percent (5%) per annum above the “prime”
or “reference” or “base” rate (on a per annum basis) of interest publicly announced as such, from time to time,
by the JPMorgan Chase Bank, NA, or its successor, from the due date thereof until paid, and such interest shall be and constitute Additional
Rent and be due and payable upon Landlord’s or Agent’s submission of an invoice therefor. The various rights, remedies and
elections of Landlord reserved, expressed or contained herein are cumulative and no one of them shall be deemed to be exclusive of the
others or of such other rights, remedies, options or elections as are now or may hereafter be conferred upon Landlord by law.

 

22.4            
Event of Bankruptcy. In addition to, and in no way limiting the other remedies set forth herein, Landlord and Tenant agree
that if Tenant ever becomes the subject of a voluntary or involuntary bankruptcy, reorganization, composition, or other similar type
proceeding under the federal bankruptcy laws, as now enacted or hereinafter amended, then: (a) “adequate assurance of future performance”
by Tenant pursuant to Bankruptcy Code Section 365 will include (but not be limited to) payment of an additional/new security deposit
in the amount of three times the then current Base Rent payable hereunder; (b) any person or entity to which this Lease is assigned,
pursuant to the provisions of the Bankruptcy Code, shall be deemed, without further act or deed, to have assumed all of the obligations
of Tenant arising under this Lease on and after the effective date of such assignment, and any such assignee shall, upon demand by Landlord,
execute and deliver to Landlord an instrument confirming such assumption of liability; (c) notwithstanding anything in this Lease to
the contrary, all amounts payable by Tenant to or on behalf of Landlord under this Lease, whether or not expressly denominated as “Rent”,
shall constitute “rent” for the purposes of Section 502(b)(6) of the Bankruptcy Code; and (d) if this Lease is assigned to
any person or entity pursuant to the provisions of the Bankruptcy Code, any and all monies or other considerations payable or otherwise
to be delivered to Landlord or Agent (including Base Rent, Additional Rent and other amounts hereunder), shall be and remain the exclusive
property of Landlord and shall not constitute property of Tenant or of the bankruptcy estate of Tenant. Any and all monies or other considerations
constituting Landlord’s property under the preceding sentence not paid or delivered to Landlord or Agent shall be held in trust
by Tenant or Tenant’s bankruptcy estate for the benefit of Landlord and shall be promptly paid to or turned over to Landlord.

 

     

     

    

 

22.5            
Sale of Premises. Notwithstanding anything contained in this Lease to the contrary, the sale of the Premises by Landlord shall
not constitute Landlord’s acceptance of Tenant’s abandonment of the Premises or rejection of the Lease or in any way impair
Landlord’s rights upon Tenant’s default, including, without limitation, Landlord’s right to damages.

 

22.6            
Landlord’s Default. In the event that Landlord defaults in the observance or performance of any term or condition required
to be performed by Landlord hereunder, Tenant, may commence an action in a court of competent jurisdiction to compel performance by Landlord
hereunder; provided, however, that Tenant may not exercise such remedy without first providing written notice of the alleged default to
Landlord, setting forth with reasonable specificity and detail the nature of such default, and thereafter permitting Landlord a thirty
(30) day period to cure such default (which cure period may be extended if Landlord is diligently pursuing performance of the applicable
cure, but such cure is not completed within the 30 day period). Upon expiration of Landlord’s cure period, Tenant shall deliver
written notice to Landlord advising of Tenant’s election to file the action contemplated above. The remedy provided in this Section
22.6 is Tenant’s sole and exclusive remedy, whether at law or in equity. In connection with the exercise of the foregoing remedy
or otherwise, Tenant shall not be entitled to any abatement, deduction or set off against the Rent payable hereunder.

 

23.            
BROKER.

 

Tenant covenants, warrants and represents
that the broker set forth in Section 1.9 was the only broker to represent Tenant in the negotiation of this Lease (“Tenant’s
Broker”). Landlord shall be solely responsible for paying the commission of Tenant’s Broker. Each party agrees to and hereby
does defend, indemnify and hold the other harmless against and from any brokerage commissions or finder’s fees or claims therefore
by a party claiming to have dealt with the indemnifying party and all costs, expenses and liabilities in connection therewith, including,
without limitation, reasonable attorneys’ fees and expenses, for any breach of the foregoing. The foregoing indemnification shall
survive the termination or expiration of this Lease.

 

24.            
MISCELLANEOUS.

 

24.1            
Merger. All prior understandings and agreements between the parties are merged in this Lease, which alone fully and completely
expresses the agreement of the parties. No agreement shall be effective to modify this Lease, in whole or in part, unless such agreement
is in writing, and is signed by the party against whom enforcement of said change or modification is sought.

 

24.2            
Notices. Any notice required to be given by either party pursuant to this Lease, shall be in writing and shall be deemed to
have been properly given, rendered or made only if (a) personally delivered, or (b) if sent by Federal Express or other comparable commercial
overnight delivery service, or (c) sent by certified mail, return receipt requested and postage prepaid, addressed (in the case of any
or all of (a), (b) and (c) above) to the other party at the addresses set forth below each party’s respective signature block (or
to such other address as Landlord or Tenant may designate to each other from time to time by written notice), and shall be deemed to have
been given, rendered or made (i) on the day so delivered or (ii) in the case of overnight courier delivery on the first business day after
having been deposited with the courier service, and (iii) in the case of certified mail, on the third (3rd) business day after
deposit with the U.S. Postal Service, postage prepaid.

 

24.3            
Non-Waiver. The failure of either party to insist, in any one or more instances, upon the strict performance of any one or
more of the obligations of this Lease, or to exercise any election herein contained, shall not be construed as a waiver or relinquishment
at the time for the future of the performance of such one or more obligations of this Lease or of the right to exercise such election,
but the Lease shall continue and remain in full force and effect with respect to any subsequent breach, act or omission. The receipt and
acceptance by Landlord or Agent of Base Rent or Additional Rent with knowledge of any breach by Tenant of any obligation of this Lease
shall not be deemed a waiver of such breach.

  

     

     

    

 

24.4            
 Legal Costs. Any party in breach or default under this Lease (the “Defaulting Party”) shall reimburse the
other party (the “Nondefaulting Party”) upon demand for any legal fees and court (or other administrative proceeding)
costs or expenses that the Nondefaulting Party incurs in connection with the breach or default, regardless whether suit is commenced or
judgment entered. Such costs shall include legal fees and costs incurred for the negotiation of a settlement, enforcement of rights or
otherwise. Furthermore, in the event of litigation, the court in such action shall award to the party in whose favor a judgment is entered
a reasonable sum as attorneys’ fees and costs, which sum shall be paid by the losing party. Tenant shall pay Landlord’s attorneys’
reasonable fees incurred in connection with Tenant’s request for Landlord’s consent under provisions of this Lease governing
assignment and subletting, or in connection with any other act which Tenant proposes to do and which requires Landlord’s consent.
All payments due hereunder from Tenant to Landlord shall be deemed Additional Rent.

 

24.5            
Parties Bound. Except as otherwise expressly provided for in this Lease, this Lease shall be binding upon, and inure to the
benefit of, the successors and assignees of the parties hereto. Tenant hereby releases Landlord named herein from any obligations of Landlord
for any period subsequent to the conveyance and transfer of Landlord’s ownership interest in the Property. In the event of such
conveyance and transfer, Landlord’s obligations hereunder shall thereafter be binding upon each transferee (whether Successor Landlord
or otherwise). No obligation of Landlord shall arise under this Lease until the instrument is signed by, and delivered to, both Landlord
and Tenant.

 

24.6            
Recordation of Lease. Tenant shall not record or file this Lease (or any memorandum hereof) in the public records of any county
or state.

 

24.7            
Governing Law; Construction. This Lease shall be governed by and construed in accordance with the laws of the state in which
the Property is located. If any provision of this Lease shall be invalid or unenforceable, the remainder of this Lease shall not be affected
but shall be enforced to the extent permitted by Law. The captions, headings and titles in this Lease are solely for convenience of reference
and shall not affect its interpretation. This Lease shall be construed without regard to any presumption or other rule requiring construction
against the party causing this Lease to be drafted. Each covenant, agreement, obligation, or other provision of this Lease to be performed
by Tenant, shall be construed as a separate and independent covenant of Tenant, not dependent on any other provision of this Lease. All
terms and words used in this Lease, regardless of the number or gender in which they are used, shall be deemed to include any other number
and any other gender as the context may require.

 

24.8            
Time. Time is of the essence for this Lease unless waived by Landlord (which it shall have the right, but not the obligation
to do). If the time for performance hereunder falls on a Saturday, Sunday or a day that is recognized as a holiday in the state in which
the Property is located, then such time shall be deemed extended to the next day that is not a Saturday, Sunday or holiday in said state.

 

24.9            
Authority of Tenant. Tenant and the person(s) executing this Lease on behalf of Tenant hereby represent, warrant, and covenant
with and to Landlord as follows: the individual(s) acting as signatory on behalf of Tenant is(are) duly authorized to execute this Lease;
Tenant has procured (whether from its members, partners or board of directors, as the case may be), the requisite authority to enter into
this Lease; this Lease is and shall be fully and completely binding upon Tenant; and Tenant shall timely and completely perform all of
its obligations hereunder.

 

24.10        
WAIVER OF TRIAL BY JURY. LANDLORD AND TENANT, TO THE FULLEST EXTENT THAT THEY MAY LAWFULLY DO SO, HEREBY WAIVE TRIAL BY JURY
IN ANY ACTION OR PROCEEDING BROUGHT BY ANY PARTY TO THIS LEASE WITH RESPECT TO THIS LEASE, THE PREMISES, OR ANY OTHER MATTER RELATED TO
THIS LEASE OR THE PREMISES.

 

TENANT
WAIVES THE RIGHT TO TRANSFER SUMMARY DISPOSSESS PROCEEDINGS BROUGHT AGAINST TENANT TO THE SUPERIOR COURT OF NEW JERSEY.

 

 

     

     

    

 

24.11        
Financial Information.  From time to time during the Term, Tenant shall deliver to Landlord information and documentation
describing and concerning Tenant’s financial condition, and in form and substance reasonably acceptable to Landlord, within ten
(10) days following Landlord’s written request therefor. Upon Landlord’s request, Tenant shall provide to Landlord the most
currently available audited financial statement of Tenant; and if no such audited financial statement is available, then Tenant shall
instead deliver to Landlord its most currently available balance sheet and income statement. Furthermore, upon the delivery of any such
financial information from time to time during the Term, Tenant shall be deemed to automatically represent and warrant to Landlord that
the financial information delivered to Landlord is true, accurate and complete, and that there has been no adverse change in the financial
condition of Tenant since the date of the then-applicable financial information.

 

24.12        
Confidential Information. Tenant agrees to maintain in strict confidence the economic terms of this Lease and any or all other
materials, data and information delivered to or received by any or all of Tenant and Tenants’ Parties either prior to or during
the Term in connection with the negotiation and execution hereof. The provisions of this Section 25.13 shall survive the termination
of this Lease.

 

24.13        
Submission of Lease. Submission of this Lease to Tenant for signature does not constitute a reservation of space or an option
to lease, or an offer to lease. This Lease is not effective until execution by and delivery to both Landlord and Tenant.

 

24.14        
Lien Prohibition. Tenant shall not permit any notice of unpaid balance or right to file lien, construction lien, construction
lien claim, mechanics or materialmen’s liens to be filed or to attach to the Premises or the Property. Tenant, at its expense, shall
procure the satisfaction or discharge of record of all such liens and encumbrances within 30 days after the filing thereof; or, within
such thirty (30) day period, Tenant shall provide Landlord, at Tenant’s sole expense, with endorsements (satisfactory, both in form
and substance, to Landlord and the holder of any mortgage or deed of trust) to the existing title insurance policies of Landlord and the
holder of any mortgage or deed of trust, insuring against the existence of, and any attempted enforcement of, such lien or encumbrance.
In the event Tenant has not so performed, Landlord may, at its option, pay and discharge such liens and Tenant shall be responsible to
reimburse Landlord, on demand and as Additional Rent under this Lease, for all costs and expenses incurred in connection therewith, together
with Default Interest thereon, which expenses shall include reasonable fees of attorneys of Landlord’s choosing, and any costs in
posting bond to effect discharge or release of the lien as an encumbrance against the Premises or the Property. The provisions of this
Section 25.15 shall survive the termination or expiration of this Lease.

 

THE INTEREST OF THE LANDLORD IN THE
PREMISES SHALL NOT, UNDER ANY CIRCUMSTANCES, BE SUBJECT TO LIENS FOR ALTERATIONS MADE BY THE TENANT OR ANY OTHER ACT OF TENANT.

 

24.15        
Landlord’s Covenants; No Termination Right. All obligations of Landlord hereunder shall be construed as covenants, not
conditions; and, except as may be otherwise expressly provided in this Lease, Tenant may not terminate, and to the extent permitted by
Law waives the benefit of any Law now or hereafter in effect which would permit Tenant to terminate, this Lease for breach of Landlord’s
obligations hereunder.

 

24.16        
Anti Terrorism. Tenant represents and warrants to and covenants with Landlord that (i) neither Tenant nor any of its affiliates
nor any of Tenant’s or its affiliates’ officers, directors, members, partners, shareholders or other
equity interest holders (all of the foregoing persons and entities being referred to herein collectively as the “Tenant Parties”)
currently is, nor shall any of them be, at any time during the Term, in violation of any laws relating to terrorism or money laundering
that may now or hereafter be in effect (collectively, the "Anti-Terrorism Laws"),
including, without limitation, Executive Order No. 13224 on Terrorist Financing, effective
September 24, 2001, any regulations of the U.S. Treasury Department's Office of Foreign
Assets Control (“OFAC”) related to Specially Designated Nationals and Blocked Persons that
may now or hereafter be in effect, and the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept
and Obstruct Terrorism Act of 2001 (Public Law 107-56) (as heretofore or hereafter amended,
the "USA Patriot Act"); (ii) none of the Tenant Parties is nor shall
any of them be, during the Term, a Prohibited Person. A “Prohibited Person” is (1) a person or entity owned or controlled
by, affiliated with, or acting for or on behalf of, any person or entity that is identified as a “Specially Designated National”
on the then- most current list published by OFAC at its official website, http://www.treas.gov/offices/enforcement/ofac/sdn/t11sdn.pdf,
or at any replacement website or other replacement official publication of such list, or
(2) a person or entity who is identified as, or affiliated with, a person or entity designated as a terrorist, or associated with terrorism
or money laundering, pursuant to regulations promulgated in connection with the USA
Patriot Act); and (iii) Tenant has taken,
and shall continue to take during the Term, reasonably appropriate steps to understand its legal obligations under the Anti-Terrorism
Laws and has implemented, and shall continue to implement during the Term, appropriate
procedures to assure its continued compliance with the above-referenced laws. Tenant hereby defends, indemnifies, and holds harmless
Landlord and its affiliates and their respective officers, directors, members, partners, shareholders
and other equity interest holders from and against any and all Losses suffered or incurred by any or all of Landlord or any of
such other indemnitees arising from, or related to, any breach of the foregoing representations, warranties and covenants. At
any time and from time- to- time during the Term, Tenant shall deliver to Landlord,
within ten (10) days after receipt of a written request therefor, a written certification and
such other evidence as Landlord may reasonably request
evidencing and confirming Tenant's compliance with this Section 25.17.

  

     

     

    

 

24.17        
Counterparts. This Lease may be executed in multiple counterparts, but all such counterparts shall together constitute a single,
complete and fully-executed document.

 

24.18        
Waive of Right of Redemption.
Tenant waives all right of redemption to which Tenant may be entitled by Law.

 

24.19        
Injunctive Relief. Any violation,
attempted violation, or threatened violation, of any provision of this Lease by Tenant, can be remedied by injunction, which shall be
a cumulative remedy in addition to any other remedy available to Landlord under this Lease or by any Law, and Tenant shall not raise as
a defense thereto that Landlord has an adequate remedy at Law.

 

24.20        
Qualification. If Tenant is a
foreign entity, it shall, on or before the Commencement Date, qualify with the Department of Treasury of the State of New Jersey to do
business in the State of New Jersey and shall promptly submit written proof of the qualification to Landlord.

 

24.21        
Joint and Several Liability. All parties signing this Lease as Tenant shall be jointly and severally liable for all obligations
of Tenant hereunder.

 

24.22        
Cross-Default.   For purposes of this Section 24.22, the terms “Landlord” and “Tenant”
shall refer to the parties named in this Lease, and to their respective affiliates, subsidiaries and parent, if any.  Any Default
by Tenant under this Lease and/or under any other lease made with Landlord shall, at the option of Landlord, constitute a Default by Tenant
under this Lease and/or under all other leases made with Landlord.

  

[Signature Pages Follow]

 

     

     

    

 

 

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

 

	 	LANDLORD:
	 	 
	 	FR JH 10, LLC a Delaware limited
    liability company
	 	 
	 	By:         FR
    JH 10 MM, LLC, a Delaware limited liability company, its managing member
	 	 
	 	By:         First
    Industrial, L.P., a Delaware limited partnership, its sole member
	 	 
	 	By:         First
    Industrial Realty Trust, Inc., a Maryland corporation, its sole general partner
	 	 
	 	/s/ Peter Schultz 
	 	By: Peter Schultz
	 	Its: Executive Vice President
    - East
	 	May 2, 2016
	 	Date

 

Landlord’s Address for Notices:

 

Leasing

First Industrial Realty Trust, Inc.

311 South Wacker Drive, Suite 3900

Chicago, IL 60606

Attn: Operations Department

 

With a copy to:

 

First Industrial Realty Trust, Inc.

P.O. Box 600

43 Route 46 East, Suite 701

Pine Brook, NJ 07058

Attn:Leasing

 

 

With a copy to:

 

Barack Ferrazzano Kirschbaum & Nagelberg LLP

200 West Madison Street, Suite 3900

Chicago, Illinois 60606

Attn: Suzanne Bessette-Smith

 

     

     

    

  

	 	TENANT:
	 	 
	 	CompoSecure, LLC,
    a New Jersey limited liability company
	 	 
	 	 
	 	By:	/s/ Michele
    Logan
	 	Its:	CEO
	 	 
	 	 
	Tenant’s
    Addresses for Notices:	 
	 	 
	CompoSecure, LLC	 
	309-313 Pierce Street	 
	Somerset, NJ 08873	 
	 	 
	With
    a copy to:	 
	CompoSecure, LLC 	 
	500 Memorial Drive 	 
	Somerset, NJ 08873 	 
	Attention: General Counsel

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