Document:

Lease Agreement

 Exhibit 10.8 
  

 LEASE AGREEMENT 
 between 
 THE INDUSTRIAL DEVELOPMENT BOARD OF THE CITY OF ARAB, 
 as Lessor, 
 and 
 HYCO ALABAMA LLC, 
 as Lessee

  

 Relating to

 Hyco Alabama Project 
  

 Dated 
 as of 
 September 1, 2000 
  

 Roy S. Goldfinger, P.C. 
 Montgomery, Alabama 
 Bond Counsel 

 LEASE AGREEMENT 
  

					
	 	 	  	  	Page
	INDEX
		
	PARTIES	  	1
	RECITALS	  	1
			
		 	ARTICLE I	  	
		 	DEFINITIONS	  	
			
	Section 1.1	 	Definitions	  	2
	Section 1.2	 	Interpretation	  	10
	Section 1.3	 	Captions and Headings	  	11
			
		 	ARTICLE II	  	
		 	REPRESENTATIONS AND COVENANTS	  	
			
	Section 2.1	 	Representations by the IDB	  	11
	Section 2.2	 	Representations and Covenants by the Company - General	  	11
	Section 2.3	 	Representations and Covenants by the Company - Tax-Related	  	12
	Section 2.4	 	Other Principal Users	  	15
	Section 2.5	 	Depreciation Method	  	15
			
		 	ARTICLE III	  	
		 	LEASE PROVISIONS	  	
			
	Section 3.1	 	Demise of the Project; Assignment of Redemption Rights	  	16
	Section 3.2	 	Lease Term; Possession and Quiet Enjoyment	  	16
	Section 3.3	 	Rentals	  	17
	Section 3.4	 	Obligations of Company Unconditional	  	18
	Section 3.5	 	Sublease or Grant of Use by Company	  	18
	Section 3.6	 	Assignment of Lease Agreement and Revenues	  	19
	Section 3.7	 	Restrictions on Mortgage or Sale of Project	  	19
	Section 3.8	 	Prepayment of Rent; Redemption of IDB Bonds	  	19
	Section 3.9	 	Option to Terminate Lease Agreement	  	20
	Section 3.10	 	Option to Purchase Unimproved Realty	  	21
	Section 3.11	 	Conveyance on Exercise of Option to Purchase	  	21
	Section 3.12	 	Use of Party Walls	  	21
			
		 	ARTICLE IV	  	
		 	PROVISIONS RESPECTING THE PROJECT	  	
			
	Section 4.1	 	Agreement to Complete Project	  	23
	Section 4.2	 	No Warranty of Suitability by IDB	  	24
	Section 4.3	 	IDB to Pursue Remedies Against Contractors, Subcontractors and Sureties	  	24
	Section 4.4	 	Agreement to Issue IDB Bonds; Other Incentives	  	25
	Section 4.5	 	Completion of the Project	  	25
	Section 4.6	 	Maintenance, Alterations and Improvements	  	26
	Section 4.7	 	Taxes, Other Governmental Charges and Utility Charges	  	28
	Section 4.8	 	Insurance	  	29
	Section 4.9	 	Advances	  	30
	Section 4.10	 	Damage or Destruction	  	30
	Section 4.11	 	Condemnation	  	31
	Section 4.12	 	Investment and Disbursement of Net Proceeds	  	32
	Section 4.13	 	Environmental Assurances	  	32
	Section 4.14	 	Hazardous Waste	  	33
			
		 	ARTICLE V	  	
		 	ADDITIONAL AGREEMENTS AND COVENANTS	  	
			
	Section 5.1	 	General Covenants	  	35
	Section 5.2	 	Inspection of Project	  	35
	Section 5.3	 	Indemnification	  	35
	Section 5.4	 	Company Not to Adversely Affect Exclusion from Gross Income	  	36
	Section 5.5	 	Covenants under Other Company Documents	  	36
	Section 5.6	 	Rebate Fund Calculations and Payments	  	36
	Section 5.7	 	Investment of Fund Moneys	  	37
	Section 5.8	 	Letter of Credit; Alternate Credit Facility	  	37
			
		 	ARTICLE VI	  	
		 	EVENTS OF DEFAULT AND REMEDIES	  	
			
	Section 6.1	 	Events of Default	  	41
	Section 6.2	 	Remedies on Default	  	42
	Section 6.3	 	No Remedy Exclusive	  	42
	Section 6.4	 	Agreement to Pay Attorneys’ Fees and Expenses	  	42
	Section 6.5	 	No Additional Waiver Implied by One Waiver	  	42
			
		 	ARTICLE VII	  	
		 	MISCELLANEOUS	  	
			
	Section 7.1	 	Prior Agreements Canceled	  	43
	Section 7.2	 	IDB’s Liabilities Limited	  	43
	Section 7.3	 	Execution Counterparts	  	44
	Section 7.4	 	Binding Effect	  	44
	Section 7.5	 	Amendments	  	44
	Section 7.6	 	Severability	  	44
	Section 7.7	 	Notices	  	44
	Section 7.8	 	Governing Law	  	44
		
	SIGNATURES	  	45
		
	ACKNOWLEDGMENTS	  	46

 EXHIBIT A - Description of Realty 

 STATE OF ALABAMA ) 
 MARSHALL COUNTY ) 
 LEASE
AGREEMENT 
 This LEASE AGREEMENT (as the same may hereafter be amended or supplemented, this “Lease Agreement”) made and
entered into as of September 1, 2000, between THE INDUSTRIAL DEVELOPMENT BOARD OF THE CITY OF ARAB, its successors and assigns (the “IDB”), a public corporation organized under the laws of the State, and HYCO ALABAMA LLC, a Delaware
limited liability company, its successors and assigns (the “Company”), under the circumstances summarized in the following recitals (the capitalized terms not defined in the recitals being used therein as defined in Article I hereof):

 A. The IDB has been heretofore organized under and is authorized by the Act to acquire, enlarge, improve, expand, own, lease, and dispose
of properties to the end that the IDB may be able to promote industry and develop trade by inducing manufacturing, industrial, commercial and research enterprises to locate in the State, or to enlarge and expand existing enterprises, or both, and
further the use of the agricultural products and natural resources of the State. 
 B. Pursuant to and in furtherance of the public purposes
expressed in the Act, the IDB has determined to undertake the Project and to lease the Project to the Company pursuant to this Lease Agreement. 
 C. Simultaneously with the execution and delivery of this Lease Agreement, (1) the IDB will enter into the IDB Indenture with the Trustee, pursuant to which the IDB will issue the IDB Bonds in the principal amount of $1,000,000 and
apply the proceeds thereof to pay a portion of the Project Costs; and (2) the Company will enter into the Company Indenture with the Trustee, pursuant to which the Company will issue the Company Bonds in the principal amount of $3,000,000, the
proceeds of which will also be applied to pay Project Costs. 
  

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 NOW, THEREFORE, in consideration of the mutual covenants and agreements hereinafter contained, the
parties to this Lease Agreement hereby formally covenant, agree and bind themselves as follows: 
 ARTICLE I 
 DEFINITIONS 
 Section 1.1 Definitions.
In addition to the words and terms elsewhere defined in this Lease Agreement (including in the Recitals hereto) or by reference to the Indenture or other document, unless the context or use clearly indicates another or different meaning or intent:

 “Abatement Agreement” means the Abatement Agreement dated as of February 25, 2000 between the IDB and the Company,
confirming the grant made by the IDB in the Inducement Resolution of all State and local tax abatements permitted under Act No. 92-599, Legislature of Alabama. 
 “Act” means Article 4, Chapter 54, Title 11 of the Code of Alabama of 1975, as amended. 
 “Act of Bankruptcy” shall mean the filing of a petition in bankruptcy (or other commencement of a bankruptcy or similar proceeding) by or against the Company or by the IDB, as debtor, under any applicable bankruptcy,
reorganization, insolvency or other similar law now or hereafter in effect. 
 “Affiliate” means, as to any Person, any other
Person that directly, or indirectly, through one or more intermediaries, controls or is controlled by, or is under common control with, that Person. 
 “Alternate Credit Facility” means an irrevocable letter of credit, a surety bond, an insurance policy or other credit facility delivered to the Trustee pursuant to Section 5.8(f) of this Lease
Agreement. 
 “Bank” means Regions Bank, Montgomery, Alabama, and its successors and assigns, as issuer of the Initial Letter of
Credit, until such time, if any, as a Substitute Letter of Credit or Alternate Credit Facility shall become effective pursuant to Section 5.8 of this Lease Agreement, and thereafter “Bank” shall mean the issuer or provider of such
Substitute Letter of Credit or Alternate Credit Facility. 
 “Bankruptcy Code” means the United States Bankruptcy Reform Act of
1978, as amended, or any substitute or replacement legislation. 
 “Basic Rent” means that portion of the Rentals payable under
Section 3.3 of this Lease Agreement in the amounts and at the times sufficient, giving effect to any credit therein provided for, to pay Debt Service on or Purchase Price of the IDB Bonds. 
 “Bond” or “Bonds” means, individually or collectively, as the context may require, the IDB Bonds and the Company Bonds. 

 

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 “Bond Counsel” means Roy S. Goldfinger, P.C., Montgomery, Alabama, or any other attorney or
firm of attorneys nationally recognized on the subject of municipal bonds and acceptable to the Trustee. 
 “Bond Fund” Means the
Bond Fund created in the IDB Indenture. 
 “Bond Payment Date” means each date (including any date fixed for redemption or
acceleration of IDB Bonds) on which Debt Service is payable. 
 “Bond Purchase Agreement” means the Bond Purchase Agreement dated
September 13, 2000 among the IDB, the Company and the Underwriter and relating to the Bonds. 
 “Bond Purchase Fund” means the
Bond Purchase Fund created in the IDB Indenture. 
 “Bond Year” means, during the period the IDB Bonds remain outstanding, the
annual period provided for the computation of Excess Earnings under Section 148(f) of the Code (except that the first and last Bond Years may be less than 12 months long). 
 “Building” means, collectively, all structures and improvements now existing or hereafter expanded, constructed, reconstructed or made on the
Realty, as they may at any time exist. 
 “Business Day” means any day other than (i) a Saturday or Sunday; (ii) a day on
which banking institutions are required or authorized to remain closed in (A) the city in which the principal office of the Trustee is located, (B) the city in which the principal office of the Remarketing Agent is located, (C) the city in
which the office of the Bank where drawings under the Letter of Credit are to be made is located; or (iii) a day on which the payment system of the Federal Reserve System is not operational. 
 “City” means the City of Arab, Alabama. 
 “Code” means the Internal Revenue Code of 1986, as amended. References to the Code and Sections thereof include relevant applicable temporary, proposed or final regulations thereunder and under any predecessor provisions of the
Internal Revenue Code of 1954, as amended. 
 “Commercial Base Rate” means the variable rate of interest designated by the Bank
periodically as the Bank’s Commercial Base Rate. The Commercial Base Rate is not necessarily the lowest rate charged by the Bank. The Commercial Base Rate as of the Issue Date is nine and one-half per centum (9 1/2%) per annum. 
 “Company Bonds” means the $3,000,000 Revenue Bonds, Series 2000 of the Company to be issued under the Company Indenture. 
  

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 “Company Documents” means, individually or collectively, as the context may require, each or
all of the Company Indenture, the Tax-Exempt Credit Agreement, the Taxable Credit Agreement, this Lease Agreement, the Bond Purchase Agreement, the Remarketing Agreement, the Mortgages and such other documents or instruments as the Company may enter
into in order to consummate the transactions contemplated hereby and thereby. 
 “Company Indenture” means the Trust Indenture of
even date herewith from the Company to the Trustee, as the same may hereafter be supplemented or amended. 
 “Completion Date”
means the date of completion of the Project to be established by the Company in accordance with Section 4.5(b) hereof. 
 “Computation Date” means the last day of each Bond Year and the day on which the final payment in full of all the IDB Bonds is made. 
 “Construction Fund” means the Construction Fund created in the IDB Indenture. 
 “County”
means Marshall County, Alabama. 
 “DTC” means The Depository Trust Company, New York, New York. 
 “Debt Service” means, for any period or payable at any time, the principal, interest and any premium due on IDB Bonds for that period or
payable at that time. 
 “Equipment” means any item of equipment, fixtures and tangible personal property located in or on the
Building or the Realty, the cost of which is paid or reimbursed with proceeds of the Bonds, and any item of equipment, fixtures or tangible personal property acquired in substitution therefor or as a renewal or replacement thereof pursuant to the
provisions hereof. 
 “Event of Default” means an Event of Default specified and defined in Section 6.1 hereof. 
 “Excess Earnings” means, with respect to the proceeds from the IDB Bonds, as of each Computation Date, an amount equal to the sum of
(a) plus (b) where: 
 (a) is the excess of 
 (i) the aggregate amount earned from the Issue Date on all nonpurpose investments in which gross proceeds of the IDB Bonds are invested
(other than investments attributable to excess earnings described in this clause (a)), taking into account any gain or loss on the disposition of nonpurpose investments, over 
  

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 (ii) the amount that would have been earned if such nonpurpose investments (other than
amounts attributable to an excess described in this clause (a)) had been invested at a rate equal to the yield on the IDB Bonds; and 
 (b) is any income attributable to the excess described in clause (a), taking into account any gain or loss on the disposition of nonpurpose investments. 
 The sum of (a) plus (b) shall be determined in accordance with Sections 148(f)(2) and 148(f)(4) of the Code. As used herein, the terms “gross proceeds”, “nonpurpose investments” and “yield” have
the meanings assigned to them for purposes of Section 148 of the Code. 
 “Existing Letter of Credit” means, as of any
particular time, the Letter of Credit or Alternate Credit Facility held by the Trustee at that time. 
 “Extension Letter of
Credit” means a Substitute Letter of Credit from the same Bank which issued the Existing Letter of Credit, substantially identical to the Existing Letter of Credit except that it has a Stated Termination Date at least one year later than that
of the Existing Letter of Credit. 
 “Government Obligations” means (a) direct obligations of the United States of America for
the full and timely payment of which the full faith and credit of the United States of America is pledged, or (b) obligations issued by a Person controlled or supervised by and acting as an instrumentality of the United States of America, the
full and timely payment of the principal of, premium, if any, and interest on which is fully and unconditionally guaranteed as a full faith and credit obligation by the United States of America. 
 “Governmental Authority” means the United States, any state or political subdivision thereof and any court, agency, department, commission,
board, bureau or instrumentality of any of the foregoing. 
 “Holder” or “Holder of a Bond” means the Person in whose
name an IDB Bond is registered on the books kept and maintained by the Registrar for the registration and transfer of IDB Bonds. 
 “IDB
Bonds” means the $1,000,000 Industrial Development Revenue Bonds (Hyco Alabama Project) Series 2000 of the IDB to be issued under the IDB Indenture. 
 “IDB Documents” means, individually or collectively, as the context may require, each or all of this Lease Agreement, the IDB Indenture, the Letter of Representations, the Bond Purchase Agreement, the
Remarketing Agreement, the Mortgages and such other documents as the IDB may enter into in order to consummate the transactions contemplated hereby and thereby. 
  

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 “IDB Indenture” means the Trust Indenture of even date herewith from the IDB to the Trustee, as
the same may hereafter be supplemented or amended. 
 “Indentures” means, collectively, the IDB Indenture and the Company
Indenture. 
 “Independent Engineer” means an engineer or engineering firm registered and qualified to practice the profession of
engineering under the laws of the State and not in the full-time employment of the IDB or the Company. 
 “Inducement Resolution”
means the resolution adopted by the IDB on February 25, 2000 relating to the Project and the issuance of the IDB Bonds. 
 “Initial
Letter of Credit” means the initial Letter of Credit in the form attached to the Tax-Exempt Credit Agreement as Exhibit A, issued by the Bank and caused by the Company to be delivered to the Trustee on or prior to the Issue Date. 
 “Interest Payment Date”, when used with respect to any installment of interest on an IDB Bond, means the date specified in such Bond as the
fixed date on which such installment of interest is due and payable, as more particularly described in the IDB Indenture. 
 “Interest
Rate for Advances” means the rate per annum which is two percent per annum (2%) in excess of that rate announced from time to time as the Commercial Base Rate. 
 “Issuance Costs” means costs associated with the issuance of the IDB Bonds, including, but not limited to, (a) any underwriters’ spread; (b) counsel fees (including Bond Counsel,
underwriters’ counsel, IDB’s counsel, Company counsel in the case of borrowings such as those for exempt facilities and manufacturing facilities, as well as any other specialized counsel fees incurred in connection with the borrowing); (c)
financial advisor fees; (d) rating agency fees; (e) trustee fees; (f) paying agent and certifying and authenticating agent fees related to issuance of the IDB Bonds; (g) accountant fees; (h) printing costs (for the IDB Bonds
and of any preliminary and final offering materials); (i) costs incurred in connection with the required public approval process; and (j) costs of engineering and feasibility studies necessary to the issuance of the IDB Bonds. 

“Issue Date” means the date of the initial authentication and delivery of the Bonds. 
 “Lease Term” means the duration of the leasehold estate created in this Lease Agreement as provided herein. 
 “Letter of Credit” means the Initial Letter of Credit and, unless the context or use indicates another or different meaning or intent, any
Substitute Letter of Credit. 
 “Letter of Credit Substitution Date” means any Business Day specified by the Company pursuant to
Section 5.8 of this Lease Agreement on which the Company 

  

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proposes (other than by reason of an imminent Conversion Date or Seven-Day Rate Recommencement Date (as both said terms are defined in the IDB Indenture) or
the Stated Termination Date of the Existing Letter of Credit) to furnish a Substitute Letter of Credit (other than an Extension Letter of Credit) or Alternate Credit Facility in place of the then Existing Letter of Credit. 
 “Letter of Representations” means the Book-Entry-Only Variable-Rate Demand Obligation Letter of Representations, in the form of Exhibit B to
the IDB Indenture, to be entered into on the Issue Date among the Trustee, the IDB and DTC. 
 “Mandatory Tender” means a tender of
IDB Bonds required to be made by the provisions of the IDB Indenture. 
 “Maximum Exemption Period”, as found and determined in the
Abatement Agreement, means a period of ten years, expiring as provided in Section 7.1 hereof. 
 “Moody’s” means
Moody’s Investors Service, New York, New York. 
 “Mortgages” means the two Mortgages and Security Agreements, each of even
date herewith and each executed by the Company and the IDB in favor of the Bank, securing the obligations of the Company under the Taxable Credit Agreement and the Tax-Exempt Credit Agreement, respectively, as one or both of the same may hereafter
be supplemented or amended. 
 “Necessary Authorizations” means, with respect to any given action or effect, all authorizations,
consents, approvals, permits, licenses and exemptions of, filings and registrations with, and reports to, all Governmental Authorities which are necessary or required to accomplish such action or achieve such effect. 
 “Net Proceeds”, when used with respect to any insurance or condemnation award, means the gross proceeds from the insurance or condemnation
award with respect to which that term is used remaining after payment of all reasonable expenses (including reasonable attorneys’ fees and any fees of the Trustee) incurred in the collection of such gross proceeds. 
 “Non-Taxability Opinion” means, with respect to one or more given events or prospective events, an opinion of Bond Counsel to the effect that
the occurrence of such event or events will not adversely affect the non-Taxable status of the interest on the IDB Bonds. 
 “Optional
Tender” means a tender of IDB Bonds at the option of the Holder thereof pursuant to the provisions of the IDB Indenture. 
 “Person” includes natural persons, firms, associations, partnerships, trusts, corporations and public bodies. 
  

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 “Plant” means the Building and Equipment. 
 “Project” means, collectively, the Realty, the Building and the Equipment (as the same may at any time exist), to be leased to the Company
pursuant to this Lease Agreement for use as manufacturing facilities for the manufacture of hydraulic cylinders, industrial tubing nd other products or for such other purposes as may be consistent with the provisions of the Act and the Code and
permitted by this Lease Agreement. 
 “Project Costs” means those costs of the Project for which payment may be made as provided
herein. 
 “Project Supervisor” means any agent of the Company, designated in writing by the Company, authorized to act for and on
behalf of the Company in connection with any and all matters pertaining to the Project. 
 “Purchase Price” means, with respect to
any IDB Bond tendered for purchase by Optional Tender or Mandatory Tender, 100% of the principal amount thereof plus accrued interest thereon, if any, from the last preceding Interest Payment Date to the Tender Date. 
 “Rating Agency” means Moody’s or S & P, their respective successors and assigns, and any other nationally recognized securities rating
agency. 
 “Realty” means the real estate and interests therein constituting the site of the Building, as described in Exhibit A
hereto, less any such real estate, interests in real estate and other rights as may be released pursuant to the provisions hereof or taken by the exercise of the power of eminent domain. 
 “Rebate Fund” means the Rebate Fund created in the IDB Indenture. 
 “Registrar” means the Registrar as defined in the Indentures. 
 “Related Documentation” means the documentation required to accompany a Substitute Letter of Credit or Alternate Credit Facility in accordance with the provisions of Section 5.8 of this Lease Agreement.

 “Remarketing Agent” means, initially, Merchant Capital, L.L.C., Montgomery, Alabama, and any successor Remarketing Agent
appointed in accordance with the Indentures. 
 “Remarketing Agreement” means the Remarketing Agreement of even date herewith among
the IDB, the Company, the Trustee and the Remarketing Agent, as the same may hereafter be amended or supplemented. 
 “Rentals”
means the amounts required to be paid by the Company pursuant to Section 3.3 hereof. 
  

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 “Revenues” means (a) the Basic Rent; (b) all other moneys received or to be received
by the IDB or the Trustee in respect of payment of the Basic Rent, including without limitation, moneys and investments in the Bond Fund and Bond Purchase Fund and received by the Trustee from drawings made under the Letter of Credit or an Alternate
Credit Facility or as a result of the remarketing of any IDB Bonds, but excluding any moneys and investments in the Rebate Fund; (c) any moneys and investments in the Construction Fund; and (d) all income and profit from the investment of the
foregoing moneys. 
 “S & P” means Standard & Poor’s Corporation, New York, New York. 
 “Site Prep Grant” means a grant from the State Industrial Development Authority, a public corporation of the State, for the grading, drainage
and other preparation of a site. 
 “State” means the State of Alabama. 
 “Stated Termination Date” means the date on which a Letter of Credit is stated to expire, unless extended in accordance with its terms.

 “Substitute Letter of Credit” means an irrevocable letter of credit delivered to the Trustee in substitution for the Existing
Letter of Credit, in compliance with the requirements of this Lease Agreement and accompanied by the Related Documentation. 
 “Taxable” means, when used in reference to the IDB Bonds, that interest thereon is includable in the gross income of any Holder thereof for any reason other than the fact that such Holder is a “substantial user” of the
Project or a “related person” as those terms are used in Section 147(a) of the Code. Interest on the IDB Bonds shall not be deemed “Taxable” because such interest is includable in any calculation of income for purposes of
any alternative minimum tax, any foreign branch profits tax or any other type of taxation other than the regular federal tax imposed on gross income. 
 “Taxable Credit Agreement” means the Taxable Credit Agreement of even date herewith between the Company and the Bank, as issuer of the Taxable Letter of Credit, as the same may hereafter be amended or
supplemented; or any comparable agreement relating to a substitute letter of credit or alternate credit facility issued in place of the Taxable Letter of Credit. 
 “Taxable Letter of Credit” means the irrevocable letter of credit in the form attached to the Taxable Credit Agreement as Exhibit A and delivered to the Trustee on or prior to the Issue Date to provide
security for the payment of the Company Bonds. 
 “Tax-Exempt Credit Agreement” means the Tax-Exempt Credit Agreement of even date
herewith between the Company and the Bank, as issuer of the Initial Letter of Credit, as the same may hereafter be amended or supplemented; or any comparable agreement relating to a Substitute Letter of Credit or Alternate Credit Facility.

  

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 “Tender Date” means an Optional Tender Date or a Mandatory Tender Date, as the case may be.

 “Trustee” means the trustee at the time serving as such under the Indentures, initially, Regions Bank, Montgomery, Alabama.

 “Trustee’s Office” means the office from time to time designated by the Trustee, or its successor in trust, as its
principal corporate trust office for purposes of discharging its trusts and duties under the Indentures, which office as of the Issue Date is located at 60 Commerce Street, Montgomery, Alabama. 
 “Trustee’s Time” means Central Standard Time or Central Daylight Time, as the case may be. 
 “Unassigned Rights” means all of the rights of the IDB to receive payments or reimbursement pursuant to Section 3.3(c) hereof, to be held
harmless and indemnified pursuant to Section 5.3 hereof, to be reimbursed for attorney’s fees and expenses pursuant to Section 6.4 hereof, to receive notices hereunder and to give or withhold consent to amendments, supplements,
modifications or termination of this Lease Agreement and of the IDB Indenture pursuant to Section 7.5 hereof and Article VII of the IDB Indenture, respectively. 
 “Unimproved”, when used with reference to the Realty, means any part or parts of the Realty upon the surface of which no part of the Building rests. 
 Section 1.2 Interpretation. Any reference herein to the IDB or to any member of the Board of Directors or officer thereof includes entities or officials
succeeding to their respective functions, duties or responsibilities pursuant to or by operation of law or lawfully performing their functions. 
 Any reference to a section or provision of the Constitution of the State or the Act, or to a section, provision or chapter of the Code of Alabama of 1975 or to any statute of the United States of America, includes that section, provision or
chapter as amended, modified, revised, supplemented or superseded from time to time, provided, that no amendment, modification, revision, supplement or superseding section, provision or chapter shall be applicable solely by reason of this provision,
if it constitutes in any way an impairment of the rights or obligations of the IDB, the Holders, the Trustee, the Registrar or the Company under this Lease Agreement, the Bonds, the IDB Indenture or any other instrument or document entered into in
connection with any of the foregoing, including without limitation, any alteration of the obligation to pay Debt Service in the amount and manner, at the times, and from the sources provided in the IDB Indenture, except as permitted therein.

 Unless the context indicates otherwise, words importing the singular number include the plural number, and vice versa; the terms
“hereof”, “hereby”, “herein”, “hereto”, “hereunder” and similar terms refer to this Lease Agreement; and the term “hereafter” means after, and the term “heretofore” means before,
the effective date of this Lease Agreement. Words of any gender include the correlative words of the other genders, unless the sense indicates otherwise. 
 Section 1.3 Captions and Headings. The captions and headings in this Lease Agreement are solely for convenience of reference and in no way define, limit or describe the scope or intent of any Articles, Sections,
subsections, paragraphs, subparagraphs or clauses hereof. 
 [END OF ARTICLE I] 
  

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 ARTICLE II 
 REPRESENTATIONS AND COVENANTS 
 Section 2.1 Representations by the IDB. The IDB makes the following
representations as the basis for the undertakings on its part herein contained: 
 (a) The IDB is duly incorporated under the
provisions of the Act. Under the provisions of the Act the IDB has the power to enter into the transactions contemplated by the IDB Documents and to carry out its obligations thereunder. The Project constitutes and will constitute a
“project” within the meaning of the Act. The IDB is not in default under any of the provisions contained in its Certificate of incorporation or under the laws of the State. By proper corporate action the IDB has duly authorized the
execution, delivery and performance of the IDB Documents. 
 (b) The IDB has been induced to enter into this Lease Agreement
by the Company’s promise to locate the Project within the corporate limits of the City. The Project is located wholly within the corporate limits of the City. 
 (c) The IDB hereby finds and determines that the issuance of the IDB Bonds, the acquisition, improvement, equipping and construction of
the Project and the leasing of the Project to the Company are in furtherance of the objects and purposes of the IDB and of the Act and will promote industry, develop trade and further the use of agricultural products and natural resources of the
State. 
 (d) The execution, delivery and performance by the IDB of the IDB Documents are within the IDB’s corporate
powers, and each such document, when executed and delivered, will constitute a legal, valid and binding obligation of the IDB enforceable against the IDB in accordance with its terms, except as enforcement may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally and by the application of general principles of equity. 
 Section 2.2 Representations and Covenants by the Company - General. The Company represents and covenants that: 
 (a) It is a limited liability company duly formed and validly existing under the laws of the State of Delaware and qualified to transact business under the laws of the State. 
 (b) The execution, delivery and performance by the Company of each of the Company Documents and the carrying out of the transactions
contemplated thereby are within the Company’s powers, have been duly authorized by all necessary action, and do not violate any provision of law, any order of any court or other governmental agency, the Certificate of Formation or 

  

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Operating Agreement of the Company, or any indenture, agreement or other instrument to which the Company or any Affiliate is a party or by which the Company
or any Affiliate or any of its or their properties or assets is bound, or conflict with, result in a breach of or constitute (with due notice or lapse of time or both) a default under, any such indenture, agreement or other instrument, or result in
the creation or imposition of any lien, charge or encumbrance of any nature whatsoever upon any of the properties or assets of the Company or any Affiliate. 
 (c) The Company intends to operate the Project as manufacturing facilities for the manufacture of hydraulic cylinders, industrial tubing
and other products throughout the Lease Term and knows of no reason why the Project will not be so operated. If, in the future, there is a cessation of that operation, it will use its best efforts to resume that operation or accomplish an alternate
use by the Company or others which will be consistent with the Act and the Code. 
 (d) To the best of its knowledge, the
Company has obtained and will use its best efforts to maintain all Necessary Authorizations for the acquisition, construction and equipping of the Project, and has obtained or will when and as necessary obtain and will use its best efforts to
maintain all Necessary Authorizations for the operation of the Project and for the due execution, delivery and performance by the Company of each of the Company Documents. In particular, all building permits required for any construction or
renovation of those structures constituting part of the Project have been or will when and as necessary be obtained and, once obtained, will be maintained in full force and effect, and all utility services (including water supply, storm and sanitary
sewerage, electric and telephone facilities) necessary for the construction and operation of the Building for the intended purposes are or will be available. 
 (e) Each of the Company Documents, when executed and delivered, will constitute a legal, valid and binding obligation of the Company
enforceable against the Company in accordance with its terms, except as enforcement may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally and by the application of
general principles of equity. 
 (f) There is no pending or, to the best of its knowledge, threatened action, investigation or
proceeding before any court, governmental agency or arbitrator against or affecting the Company or any Affiliate (i) to restrain or enjoin or seeking to restrain or enjoin the issuance or delivery of the Bonds or the collection or payment of
Revenues, (ii) in any way contesting or affecting any authority for the issuance of the Bonds or the validity of the Bonds or any of the Company Documents, or (iii) in any way contesting the existence or powers of the Company. 

Section 2.3 Representations and Covenants by the Company - Tax-Related. The Company represents and covenants that: 
 (a) The acquisition and construction of the Project were not commenced (within the meaning of Section 144 of the Code) prior to
December 27, 1999. 
  

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 (b) Ninety-five percent (95%) or more of the net proceeds (within the meaning of the
Code) of the IDB Bonds will be used (i) for the acquisition, construction, reconstruction or improvement of land or property of a character subject to the allowance for depreciation within the meaning of Section 144(a)(1) of the Code and
(ii) to provide a “manufacturing facility”, including facilities “directly related and ancillary” thereto, all within the meaning of Section 144(a)(12)(C) of the Code; provided that no proceeds expended to pay Issuance Costs
in respect of the IDB Bonds shall count as being within such 95%. The Company will not request or authorize any disbursement pursuant to Section 4.1 hereof, which, if paid, would result in less than 95% of such proceeds of the IDB Bonds being
so used. 
 (c) Not more than 25% of the 95% net proceeds of the IDB Bonds referred to in subsection (b) of this
Section 2.3 will be used to provide such “directly related and ancillary” facilities, as referred to in said subsection, and all such facilities shall be located on the same site as the “manufacturing facility” referred to
in said subsection. 
 (d) Any office space being financed with proceeds of the IDB Bonds is located within the Building
constituting part of the Project, and not more than a de minimis amount of the functions to be performed in such space is not directly related to the day-to-day operations at the Project. 
 (e) There have never been issued any “issues of bonds” with respect to “facilities”, both as described in
Section 144(a)(2) of the Code, (i) which facilities are to be or have been used by the Company or any other “principal user” of the Project or any “related person” to the Company or such other “principal
user”, as such terms are used and defined in Sections 144(a)(2)(B) and 144(a)(3) of the Code, respectively, and which are located within the incorporated area of the City; and (ii) which issues of bonds would have to be taken into account
in determining the aggregate face amount of the IDB Bonds as provided in Section 144(a)(2) of the Code. 
 (f) For
each “test-period beneficiary” (as defined in Section 144(a)(10)(D) of the Code, and including any “related person” thereto) of the Project, the sum of (1) the aggregate authorized face amount of the IDB Bonds
allocated in accordance with Section 144(a)(10)(C) of the Code to such beneficiary, and (2) the aggregate outstanding principal amount of any other tax-exempt facility-related bonds as described in Section 144(a)(10)(B)(ii) of the Code,
wherever and whenever issued, allocated to such beneficiary, does not exceed $40,000,000. 
 (g) The IDB Bonds are not being
issued to finance facilities which are within or part of “a single building, an enclosed shopping mall or a strip of offices, stores, or warehouses using substantial common facilities” (within the meaning of Section 144(a)(9) of the
Code), any other facilities within or part of which have heretofore been financed with obligations issued and still outstanding under Section 144(a) of the Code or under prior Section 103(b)(6) of the Internal Revenue Code of 1954, as amended.

  

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 (h) In accordance with Section 147(b) of the Code, the average maturity of the IDB Bonds
does not exceed 120% of the average reasonably expected economic life of the facilities being financed thereby. 
 (i) None of
the proceeds of the IDB Bonds will be used to provide any airplane, skybox or other private luxury box, any health club facility, any facility primarily used for gambling, or any store the principal business of which is the sale of alcoholic
beverages for consumption off premises; or any private or commercial golf course, country club, massage parlor, tennis club, skating facility (including roller skating, skateboard and ice skating), racquet sports facility (including handball or
racquetball court), hot tub facility, suntan facility or racetrack. 
 (j) None of the net proceeds of the IDB Bonds will be
used (i) to provide a facility the primary purpose of which is retail food and beverage services (except grocery stores), automobile sales or service, or the provision of recreation or entertainment; or (ii) directly or indirectly to
provide residential real property within the meaning of Section 144(a)(5) of the Code; and less than 25% of such net proceeds will be used (directly or indirectly) for the acquisition of land (or any interest therein). 
 (k) No portion of the proceeds of the IDB Bonds will be used to acquire existing property or any interest therein unless such acquisition
meets the requirements of Section 147(d) of the Code. 
 (l) No amounts that are required to be paid to the United States
pursuant to Section 407 of the IDB Indenture will be used to make any payment to a party other than the United States through a transaction or a series of transactions that reduces the amount earned on any investment property or that results in a
smaller profit or a larger loss on any investment property than would have resulted in an arm’s length transaction in which the yield on the IDB Bonds was not relevant to either party to the transaction. 
 The terms “bond year”, “gross proceeds”, “higher yielding investments”, “investment property”,
“yield” and “debt service” have the meanings assigned to them for purposes of Section 148 of the Code. 
 (m) The information furnished by the Company and used by the IDB and Bond Counsel in preparing (i) the certifications pursuant to Section 148 of the Code referred to in Section 5.7 hereof and (ii) the information required
pursuant to Section 149(e) of the Code, is accurate and complete as of the Issue Date. 
  

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 (n) In accordance with Section 147(g) of the Code, not more than two percent (2%) of
the proceeds of the IDB Bonds shall be applied to pay Issuance Costs in respect of the IDB Bonds, and the Company covenants to pay any such Issuance Costs in excess of such limitation from funds other than IDB Bond proceeds. 
 (o) The IDB Bonds are not “federally guaranteed” within the meaning of Section 149(b) of the Code. 
 Section 2.4 Other Principal Users. In the event, on account of a sublease, management contract or other agreement relating to the Project, or any
portion thereof, permitted by the terms hereof and of the IDB Indenture, any Person other than the Company becomes a “principal user” of the Project (as referred to in Section 2.3(e) hereof), the Company shall promptly advise the
Trustee of the identity of such Person and furnish to the Trustee a copy of such sublease, management contract or other agreement. In connection with any such sublease, management contract or other agreement, the Company will require by covenant
that any sublessee, manager or user who is a “principal user” of the Project and any “related person” thereto also shall comply with the covenants set forth in subsections (b), (c), (d), (e), (i) and (j) of
Section 2.3 hereof as if those covenants were made herein by such sublessee, manager, user or “related person” thereto; and will require that any such “principal user” who is a “test-period beneficiary” with
respect to the Project (as referred to in Section 2.3(f) hereof) shall, prior to its becoming such “principal user”, make to the Company and the Trustee the representation set forth in said Section 2.3(f) as to itself and any
“related person” thereto. 
 Section 2.5 Depreciation Method. The Company acknowledges that it is aware of the provisions of
Section 168(g) of the Code and that it will comply with said provisions, if and to the extent the same are applicable. 
 [END OF ARTICLE
II] 
  

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 ARTICLE III 
 LEASE PROVISIONS 
 Section 3.1 Demise of the Project; Assignment of Redemption Rights.

 (a) The IDB hereby demises and leases to the Company, and the Company hereby leases from the IDB, the Project in accordance
with the provisions of this Lease Agreement and upon and subject to the terms, conditions and provisions of this Lease Agreement, to each of which the IDB and the Company do hereby separately and severally covenant and agree. 
 (b) The IDB hereby conveys and assigns to the Company, subject to the Mortgages, the IDB’s equity of redemption in respect of the
Project, entitling the Company to redeem the Project from impending foreclosure under the Mortgages. The IDB furthermore assigns to the Company, without reservation, the IDB’s statutory right of redemption under Section 6-5-248, Code of
Alabama 1975, as amended. Additionally, the IDB will, upon request of the Company, transfer and assign the IDB’s statutory right of redemption to the Company for the sum of $1.00 at any time after foreclosure of any mortgage on the Project. The
foregoing assignments are made in further consideration of the Company’s agreement to acquire, construct and equip the Project on behalf of the IDB and to use and operate the Project in furtherance of the public purposes of the Act. 

Section 3.2 Lease Term; Possession and Quiet Enjoyment. The Lease Term shall commence on the Issue Date and shall, subject to the provisions of this
Lease Agreement permitting earlier termination, continue until midnight of September 1, 2015. 
 The Company shall have undisturbed
possession of the Project pursuant to this Lease Agreement, subject to the inspection and other rights reserved herein; provided, however, the IDB will be permitted such continued possession of the Project as shall be reasonably necessary and
convenient for it to construct or cause to be constructed the Building and install or cause to be installed the Equipment and to construct or install or cause to be constructed or installed any additions or improvements to the Project and to make or
cause to be made any repairs or restorations thereto required or permitted to be constructed, installed or made by the IDB pursuant to the provisions hereof. 
 So long as the Company performs and observes all the covenants and agreements on its part herein contained, it shall peaceably and quietly have, hold and enjoy the Project during the Lease Term subject to all the
terms and provisions hereof. 
  

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 Section 3.3 Rentals. 
 (a) in consideration of the lease of the Project, the Company does hereby covenant and agree to pay Basic Rent to the Trustee, for the
account of the IDB, in such amounts and at such times as shall be sufficient and timely to pay all Debt Service on or Purchase Price of the IDB Bonds as the same shall be or become due and payable, whether at maturity, upon redemption, tender,
acceleration or otherwise. 
 There shall be credited, (i) against any installment of Basic Rent due on a Bond Payment
Date in respect of Debt Service or on a Tender Date in respect of Purchase Price, any amount on deposit in the Bond Fund or the Bond Purchase Fund, respectively, by not later than 11:00 a.m. Trustee’s Time on such Bond Payment Date or Tender
Date, as the case may be, representing proceeds of a drawing under the Letter of Credit pursuant to the IDB Indenture; and (ii) against any installment of Basic Rent due on a Tender Date in respect of Purchase Price, any amount on deposit in
the Bond Purchase Fund by not later than 11:00 a.m. Trustee’s Time on such Tender Date representing proceeds of the remarketing of IDB Bonds pursuant to the IDB Indenture. 
 (b) The Company recognizes and acknowledges that it is the intention of the parties hereto that this Lease Agreement be a net lease and
that, until the IDB Bonds are fully paid, Basic Rent shall be due in such amounts and at such times as shall be required, giving effect to any credits hereinabove provided for, to pay Debt Service on and Purchase Price of IDB Bonds as the same shall
become due and payable. Any amount of Basic Rent not timely paid shall bear interest from the due date thereof until paid at the Interest Rate for Advances. 
 (c) In further consideration of the lease of the Project, the Company covenants and agrees to pay as additional Rental hereunder:
(i) any and all costs and expenses incurred or to be paid by the IDB in connection with the issuance and delivery of the Bonds or otherwise related to actions taken by the IDB under this Lease Agreement, including advances made pursuant to
Section 4.9 hereof (excepting, however, Project Costs to the extent the same are paid from the proceeds of sale of the IDB Bonds); and (ii) the fees, charges and expenses of the Trustee and the other Fiduciaries (as defined in the IDB
Indenture) for acting as such under the IDB Indenture, as and when the same become due, provided, that the Company may, without creating a default hereunder, contest in good faith the necessity for any extraordinary services or extraordinary
expenses and the reasonableness of any such fees, charges or expenses. 
 Following the payment or incurring of any such
costs, expenses or liability, such additional Rental is payable upon written demand therefor, and if not paid upon such demand shall bear interest from the date paid or incurred at the Interest Rate for Advances. 
  

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 Section 3.4 Obligations of Company Unconditional. The obligation of the Company to pay the Rentals
(subject to its right to contest certain Rental under Section 3.3(c) hereof), to make all other payments provided for herein and to perform and observe the other agreements and covenants on its part herein contained shall be absolute and
unconditional, irrespective of any rights of setoff, recoupment or counterclaim it might otherwise have against the IDB or any other Person. The Company will not suspend or discontinue any such payment or fail to perform and observe any of its other
agreements and covenants contained herein or terminate this Lease Agreement for any cause whatsoever, including, without limiting the generality of the foregoing, the failure of the IDB to complete the Project, any acts or circumstances that may
constitute an eviction or constructive eviction, failure of consideration or commercial frustration of purpose, any damage to or destruction of the Project, the invalidity of any provision of this Lease Agreement, the taking by eminent domain of
title to or the right to temporary use of all or any of the Project, any change in the tax or other laws of the United States of America, the State or any political subdivision of either thereof, or any failure of the IDB to perform and observe any
agreement or covenant, whether express or implied, or any duty, liability or obligation arising out of or connected with this Lease Agreement. Notwithstanding the foregoing, the Company may, at its own cost and expense and in its own name or in the
name of the IDB, prosecute or defend any action or proceeding or take any other action involving third persons which the Company deems reasonably necessary, in order to secure or protect its rights of use and occupancy and its other rights
hereunder. Nothing contained herein shall be construed to be a waiver of any rights which the Company may have against the IDB under this Lease Agreement or under any provision of law. 
 Section 3.5 Sublease or Grant of Use by Company. Subject to any applicable provisions of the Mortgages, the Company may sublease or grant the right
to occupy and use the Project, in whole or in part, to others, provided that: 
 (a) No such grant or sublease shall relieve
the Company from primary liability for any of its obligations under this Lease Agreement or any other Company Document; 
 (b)
In connection with any such grant or sublease the Company shall retain such rights and interests as will permit it to comply with its obligations under this Lease Agreement and each other Company Document; 
 (c) No such grant or sublease shall permit a use other than one consistent with the intended use of the Project or the purposes of the Act
and the Code; and 
 (d) All such subleases as may hereafter be entered into shall be subject to the terms and conditions of
this Lease Agreement, including, without limitation, the provisions of Section 2.4 hereof and with respect to the maintenance and operation of the Project. 
  

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 The IDB hereby agrees to join in the execution and delivery of any sublease or grant of use made pursuant to the
provisions of this Section 3.5, but solely for the purposes of indicating its consent thereto and approval thereof; provided, however, that any such sublease entered into pursuant to this Section will be effective even if the IDB refuses to
execute it. 
 Section 3.6 Assignment of Lease Agreement and Revenues. Pursuant to the IDB Indenture, the IDB has assigned all its
right, title and interest (except for Unassigned Rights) in and pledged any moneys receivable under this Lease Agreement to the Trustee as security for payment of the Debt Service. The IDB has made a similar assignment and pledge to the Bank
pursuant to the Mortgages, subordinated, however, to the assignment and pledge to the Trustee pursuant to the IDB Indenture. The Trustee shall have all rights and remedies herein accorded to the IDB (except for Unassigned Rights) and any reference
herein to the IDB shall be deemed, with the necessary changes in detail, to include the Trustee, and the Trustee and the Holders are deemed to be third party beneficiaries of the representations, warranties, covenants and agreements of the Company
herein contained. The Company hereby agrees and consents to the foregoing assignments by the IDB. 
 Section 3.7 Restrictions on
Mortgage or Sale of Project. Except for (a) the assignment of this Lease Agreement and the Revenues hereunder pursuant to the IDB Indenture and (b) the subordinated assignment of this Lease Agreement and such Revenues and the mortgaging of
the Project to the Bank pursuant to the Mortgages, the IDB will not mortgage, sell, assign, transfer or convey the Project during the Lease Term without the prior written consent of the Company. If the laws of the State at the time shall permit it,
nothing contained in this Section shall prevent the consolidation of the IDB with, or merger of the IDB into, or transfer of the Project as an entirety to, the City, the County or any public corporation whose property and income are not subject to
federal or State taxation and which has corporate authority to carry on the business of owning and leasing the Project; provided, however, that the provisions of Section 908 of the IDB Indenture shall be complied with; and provided further,
however, that upon any such consolidation, merger, or transfer, the due and punctual payment of the Debt Service and the due and punctual performance and observance of all the agreements and conditions of this Lease Agreement to be kept and
performed by the IDB, shall be expressly assumed in writing by the corporation resulting from such consolidation or surviving such merger or to which the Project shall be transferred as an entirety. However, nothing in this Section shall authorize
the IDB to act in such a manner as to cause the interest on the IDB Bonds to become Taxable or to become subject to State taxation. 
 Section 3.8 Prepayment of Rent; Redemption of IDB Bonds. The Company shall have the right at its option to prepay at any time all or any part of the Basic Rent payable under this Lease Agreement. All Basic Rent so prepaid shall be
credited against future payments of Basic Rent as the same become due unless prior to the date on which such credit is to be taken the Company directs such moneys to be used to purchase or redeem IDB Bonds in the manner and to the extent permitted
and provided in the IDB Indenture. The amount necessary to redeem IDB Bonds shall be deemed to include, in addition to the redemption price, all expenses necessary to effect the redemption and, if all IDB Bonds are to be redeemed, all other
obligations under the IDB Indenture, including the 
  

 19 

 Trustee’s and other Fiduciaries’ fees, charges and expenses. At least 45 days prior to the proposed redemption
date, the Company shall notify the IDB and the Trustee, in writing, as to the proposed redemption, and the IDB, upon receiving such notice, shall be obligated and hereby agrees to take all necessary action to have the payment made for the purpose of
redeeming IDB Bonds applied to the redemption of as many IDB Bonds as such payment will permit under the redemption provisions thereof and of the IDB Indenture. 
 Section 3.9 Option to Terminate Lease Agreement. 
 (a) Prior to the expiration of the
Lease Term, the Company shall, if it is not then in default hereunder, have the option to terminate this Lease Agreement and purchase the Project from the IDB upon: 
 (1) if the IDB Bonds remain outstanding, either (A) redemption of all of the IDB Bonds in accordance with the terms thereof and
Section 3.8 hereof, or (B) payment of the IDB Bonds in full in accordance with Article VIII of the IDB Indenture; 
 (2) written notice to the IDB of the exercise of such option; and 
 (3) payment to the IDB of the purchase price of
the Project of $5,000, together with payment of any amounts due under Section 3.3(c) hereof. 
 When the foregoing
conditions shall have been met, the IDB will promptly convey the Project to the Company (or, if applicable, to any nominee of the Company designated in writing to the IDB) in accordance with Section 3.11 hereof. 
 (b) In the event that, as of the expiration of the Lease Term, the Company shall not have exercised the option to purchase the Project,
said option shall continue until the IDB shall have given written notice to the Company that said option must be exercised within 90 days of the date of the notice and the Company shall thereafter fail to exercise said option within the specified
period. 
 (c) The IDB finds and determines that the price payable upon exercise of the option to purchase granted hereby,
together with the amounts of Basic Rent and other Rentals payable hereunder, constitutes fair market value for the property for purposes of State law, including without limitation within the interpretation of Act No. 91-635, Legislature of Alabama,
as amended, and any predecessor statute thereto. 
  

 20 

 Section 3.10 Option to Purchase Unimproved Realty. The Company shall have, and is hereby granted,
the option to purchase any Unimproved part of the Realty at any time and from time to time, provided that it furnishes the IDB and (if the IDB Bonds remain outstanding) the Trustee with the following: 
 (a) A notice in writing containing (i) an adequate legal description of that portion of the Realty with respect to which such option
is to be exercised, (ii) a statement that the Company intends to exercise its option to purchase such portion of the Realty on a date stated, which shall not be less than 45 nor more than 90 days from the date of such notice and, if applicable,
(iii) the name of Company’s designee to which the IDB shall convey the property; 
 (b) A certificate of an
Independent Engineer, dated not more than 90 days prior to the date of the purchase and stating that, in the opinion of the person signing such certificate, (i) the portion of the Realty with respect to which the option is exercised is not
needed for the operation of the Project for the purposes hereinabove stated and (ii) the purchase will not impair the usefulness of the Project and will not destroy the means of ingress thereto and egress therefrom; and 
 (c) The purchase price for such portion of the Realty, being equal to the fair market value thereof based upon independent appraisal,
which shall be paid directly to the Trustee for the account of the IDB and deposited in the Bond Fund; provided, however, that if the IDB Bonds shall at the time have been paid in full, the amount of such purchase price shall be paid directly to the
IDB, shall not exceed $5,000 and shall be credited against the option price payable pursuant to Section 3.9 hereof. 
 Upon receipt of the notice,
certificate and purchase price required above, the IDB will promptly convey, in accordance with Section 3.11 hereof, that portion of the Realty with respect to which the Company shall have exercised the option granted to it in this Section. If
such option relates to Realty on which transportation or utility facilities are located, the IDB shall retain an easement to use such transportation or utility facilities to the extent necessary for the continued efficient operation of the Project.

 Section 3.11 Conveyance on Exercise of Option to Purchase. At the closing of the purchase pursuant to the exercise of any option to
purchase granted herein; the IDB will upon receipt of the purchase price deliver to the Company documents conveying to the Company or its designee the property with respect to which such option was exercised, as such property then exists, subject
only to the following: (a) those liens and encumbrances, if any, to which title to the property was subject when conveyed to the IDB; (b) those liens and encumbrances created by the Company or to the creation or suffering of which the
Company consented; and (c) those liens and encumbrances resulting from the failure of the Company to perform or observe any of the agreements on its part contained in this Lease Agreement. 
 Section 3.12 Use of Party Walls. If the Company purchases any Unimproved part of the Realty pursuant to the provisions hereof or otherwise acquires
or leases other real property adjacent to the Realty, all walls presently standing or hereafter erected on or contiguous to the boundary line of the land so purchased, acquired or leased by the Company shall be party walls and each party grants the
other a ten foot easement adjacent to any such party wall for the purpose of inspection, maintenance, repair and replacement thereof and the 

  

 21 

 
tying-in of new construction. If the Company utilizes any party wall for the purpose of tying in new construction that will be utilized under common control
with the Project, the Company may also tie in the utility facilities on the Realty for the purpose of serving the new construction and may remove any non-loadbearing wall panels in the party wall; provided, however, that if the property so
purchased, acquired or leased by the Company ceases to be operated under common control with the Project, the Company covenants that it will install non-loadbearing wall panels similar in quality to those that have been removed and will provide
separate utility services for the new construction. 
 [END OF ARTICLE III] 
  

 22 

 ARTICLE IV 
 PROVISIONS RESPECTING THE PROJECT 
 Section 4.1 Agreement to Complete Project. Pursuant to the
Inducement Resolution and hereby reaffirmed, the IDB authorized the Company to commence the planning, design, acquisition, construction, improvement and equipping of the Project. In accordance with such authorization, the Company is proceeding with
the acquisition, construction, improvement and equipping of the Project, which the Company shall complete as promptly as is practicable. 
 Promptly following the issuance and sale of the IDB Bonds, the IDB will reimburse the Company for funds heretofore advanced and expenses incurred by the Company for qualifying Project Costs. 
 The IDB has in the IDB Indenture authorized and directed the Trustee to make payments from the Construction Fund, and shall cause payments to be made
from the Construction Fund for Project Costs, which shall, subject to any applicable restrictions or limitations prescribed under the Code, include: 
 (a) The acquisition, construction and installation, as applicable, of all real or personal properties constituting a “project” within the meaning of the Act or necessary in connection therewith, including
architect’s and engineer’s fees incidental thereto; 
 (b) The purchase price of any land or any part of a building
that may be acquired by purchase; 
 (c) All expenses in connection with the authorization, sale and issuance of revenue bonds
to finance such acquisition, construction and installation; 
 (d) Interest on such revenue bonds for a reasonable time prior
to, during and for a period not exceeding two years after completion of, such acquisition, construction and installation; and 
 (e) Any other costs necessary or incidental for the foregoing or permitted, either expressly or impliedly, under the provisions of the Act. 
 Payments from the Construction Fund shall be made in all such cases only upon advance submission of each payment requisition to the Trustee bearing the written approval of the IDB and the Company, and subject to the requirements of the IDB
Indenture and the Tax-Exempt Credit Agreement with respect to withdrawals from the Construction Fund. 
  

 23 

 In the event that, after reasonable request made to the IDB by the Company, the IDB fails or refuses to
issue or execute a payment requisition for payment from the Construction Fund of any item that may under the terms of this Lease Agreement be paid from the Construction Fund (including reimbursement to the Company as aforesaid), the Project
Supervisor, who is hereby irrevocably appointed as agent for the IDB for such purposes, may issue and execute, also for and in the name and behalf of the IDB and without any approval of any officer, employee or other agent thereof, such payment
requisition for payment from the Construction Fund. 
 Any payment requisition for any item of Project Costs not described in, or the cost
for which item is other than as described in, the information furnished by the Company pursuant to Section 2.3(m) hereof for purposes of the IDB’s preparation of Information Return Form 8038 filed by the IDB in connection with the issuance of
the IDB Bonds as required by Section 149(e) of the Code, shall identify such items with particularity and shall be accompanied by (i) evidence satisfactory to Bond Counsel that the average reasonably expected economic life of the facilities
being financed by the IDB Bonds is not less than 5/6ths of the average maturity of the IDB Bonds and (ii) a Non-Taxability Opinion with respect to such disbursement. 
 Section 4.2 No Warranty of Suitability by IDB. The Company recognizes that since the plans and specifications for constructing and equipping the Building were prepared to its order, and that since the Equipment
was selected by it, the IDB can make no warranty, either express or implied, or offer any assurances, that the Building or the Equipment will be suitable for the Company’s purposes or needs or that the proceeds derived from the sale of the
Bonds will be sufficient to pay in full all the Project Costs. 
 Section 4.3 IDB to Pursue Remedies Against Contractors, Subcontractors
and Sureties. In the event of default of any contractor or subcontractor under any contract made by it in connection with the Project, the IDB at the request of the Company will promptly proceed (at the Company’s sole cost and expense), either
separately or in conjunction with others, to exhaust the remedies of the IDB against the contractor or subcontractor so in default and against his surety, if any, for the performance of such contract. The IDB will advise the Company of the steps it
intends to take in connection with any such default. If the Company shall so notify the IDB, the Company may, in its own name or in the name of the IDB, prosecute or defend any action or proceeding or take any other action involving any such
contractor, subcontractor or surety which the Company deems reasonably necessary, and in such event the IDB will cooperate fully with the Company and will take all action necessary to effect the substitution of the Company for the IDB in any such
action or proceeding. Any amounts recovered by way of damages, refunds, adjustments or otherwise in connection with the foregoing prior to the completion of the Project shall, after payment of all costs and expenses including reasonable
attorney’s fees incurred in connection with the foregoing, be paid into the Construction Fund. 
 Upon completion of the Project or at
any time prior thereto upon the request of the Company, so long as it is not in default hereunder, the IDB will assign to the Company all warranties and guaranties of all contractors, 

  

 24 

 
subcontractors, suppliers, architects and engineers for the furnishing of labor, materials or equipment or for supervision or design in connection with the
Project and any rights or causes of action against any of the foregoing. 
 Section 4.4 Agreement to Issue IDB Bonds; Other Incentives.
In order to provide funds for payment of a portion of the Project Costs, the IDB will proceed as promptly as practicable with the issuance and sale of the IDB Bonds in the aggregate principal amount of $1,000,000, bearing interest, maturing and
having the other terms and provisions set forth in the lDB Indenture. The proceeds of sale of the IDB Bonds shall be deposited in the Construction Fund, for application to payment of Project Costs as hereinabove and in the IDB Indenture provided.

 In the Inducement Resolution, the IDB agreed to cooperate with the Company in applying for and obtaining any Incentives (as defined
therein) for which the Company and the Project may be eligible. The IDB hereby reaffirms such commitment and in particular agrees to apply for a Site Prep Grant in accordance with Article 2, Chapter 10, Title 41, Code of Alabama 1975, as amended.
All proceeds of the Site Prep Grant (if and when received) shall be deposited in the Construction Fund and shall be applied to pay or to reimburse the Company for paying such Project Costs as the Company shall requisition in accordance with the
provisions hereof and of the IDB Indenture. 
 Section 4.5 Completion of the Project. 
 (a) If moneys representing proceeds of the Bonds shall be insufficient to pay fully all sums required to complete the Project, the Company
shall be obligated to complete the acquisition, construction and equipping of the Project at its own expense and the Company shall pay any such deficiency either by making payments directly to the construction contractor or contractors or the
suppliers of materials and equipment or by paying into the Construction Fund the moneys necessary to complete the Project, in which case the IDB will proceed to complete the Project and the cost thereof will be paid from the Construction Fund. The
Company shall save the IDB whole and harmless from any obligation to pay any amount in excess of the money available therefor in the Construction Fund. The Company shall not by reason of the payment of such excess costs from its own funds (whether
by direct payment thereof or payment into the Construction Fund) be entitled to any diminution in the payment of Rentals hereunder. 
 (b) The Company shall on behalf of the IDB notify the Trustee of the Completion Date of the Project by a certificate signed by the Project Supervisor stating: 
 (i) the date on which the acquisition, construction and equipping of the Project were substantially completed (the “Completion
Date”); 
 (ii) that all other facilities necessary in connection with the Project have been acquired, constructed,
improved and equipped; 
  

 25 

 (iii) that the acquisition, construction, improvement and equipping of the Project and
those other facilities have been accomplished in such a manner as to conform with all applicable zoning, planning, buildings, environmental and other similar governmental regulations; 
 (iv) that all costs of that acquisition, construction, improvement and equipping then or theretofore due and payable have been paid; and

 (v) the amounts (if any) which the Trustee shall retain in the Construction Fund for the payment of Project Costs not yet
due or for liabilities which the Company is contesting or which otherwise should be retained. 
 Notwithstanding the foregoing, such certificate may state
that it is given without prejudice to any rights against third parties which exist at the date of such certificate or which may subsequently come into being. The IDB and the Company will cooperate one with the other in causing such certificate to be
furnished to the Trustee. 
 (c) Any moneys remaining in the Construction Fund after the Completion Date, other than amounts
specified pursuant to clause (v) of subsection (b) of this Section 4.5, shall, at the direction of the Project Supervisor, promptly be (i) used to acquire, construct, install, equip or improve such additional real or personal
property in connection with the Project as is designated by the Project Supervisor and the acquisition, construction, installation, equipment and improvement of which will be permitted under the Act and the Code; (ii) paid into the Bond Fund to
be applied to the redemption of IDB Bonds in accordance with their terms and, until such application, to be invested as provided in Section 5.7 hereof at a yield not exceeding the yield on the IDB Bonds; or (iii) applied to any combination
of the foregoing as is provided in that direction. Any direction to apply moneys from the Construction Fund pursuant to this subsection (c) shall be accompanied by a statement of the yield at which such moneys are to be invested and for what period
and by a Non-Taxability Opinion with respect to such application and further opining to the effect that such application is permitted under the Act. 
 Section 4.6 Maintenance, Alterations and Improvements. 
 (a) The Company will, at its
own expense, (i) keep the Project in as reasonably safe condition as its operations permit, and (ii) keep the Project in good order and repair, and from time to time make all needful and proper repairs, renewals and replacements thereto,
including external and structural repairs, renewals and replacements. In lieu of making such repairs, renewals and replacements, the Company may, if it so desires, furnish to the IDB the funds necessary therefor, in which case the IDB will proceed
to make such repairs, renewals and replacements. 
  

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 (b) Subject to the provisions of the Indenture, the Company may, also at its own expense,
make any additions, improvements or alterations to the Project that it may deem desirable for its business purposes, provided that such additions, improvements or alterations do not, subject to the approval of the Bank, adversely affect the value or
utility of the Project or its character as a “project” under the Act or the character of the Project as qualifying facilities under Section 144(a)(12)(C) of the Code. In lieu of making such additions, improvements or alterations itself,
the Company may, if it so desires, furnish to the IDB the funds necessary therefor, in which case the IDB will proceed to make such additions, improvements or alterations. In connection with any such additions, improvements or alterations (including
for this purpose additional machinery or equipment) and in connection with completing the Project (should Bond proceeds prove insufficient therefor), the Company may incur additional indebtedness secured by one or more liens on or security interests
in the Project or any part thereof, and the IDB shall join in the granting of such liens and security interests as the Company may request, provided any such lien or security interest (other than a purchase money security interest, which may be
prior in rank) shall be subordinated in rank to the lien and security interest of the Mortgages. 
 (c) All such additions,
improvements and alterations made by the Company or the IDB shall become a part of the Project and shall be subject to the demise of this Lease Agreement and the lien of the Mortgages; provided, however, that any equipment, furniture or fixtures
installed on the Project by the Company and not constituting replacements or renewals of Equipment constituting a part of the Project may, subject to the provisions of the Mortgages, be removed by the Company at any time and from time to time while
it is not in default under the terms of this Lease Agreement; and provided further, that any damage to the Project occasioned by such removal shall be repaired by the Company at its own expense. The same provisions will apply with respect to
equipment, furnishings or fixtures of any sublessee or user of the Project pursuant to Section 3.5 hereof. 
 (d) The
Company will not permit any mechanic’s or other liens to stand against the Project for labor or material furnished by others in connection with the original acquisition, construction or equipping of the Project or any additions, improvements,
alterations or repairs so made by the Company. The Company may, however, in good faith contest any such mechanic’s or other liens and in such event may permit any such liens to remain unsatisfied and undischarged during the period of such
contest and any appeal therefrom unless by such action the Project or any part thereof shall in the reasonable judgment of the Bank be subject to loss or forfeiture, in which event such mechanic’s or other liens shall be promptly satisfied.

 (e) The Company may, also at its own expense, subject to the provisions of the Indenture, connect or “tie-in”
walls and utility and other facilities located on the Realty to other facilities owned or leased by it on real property adjacent to the Realty or partly on such adjacent real property and partly on the Realty but only if the Company furnishes the
IDB and the Bank a certificate of an Independent Engineer that such 

  

 27 

 
connection and “tie-in” of walls and facilities will not unreasonably interfere with the operation of the Project. 
 (f) The IDB will, upon request of the Company, grant such utility, transportation and other similar easements over, across or under the
Realty as shall be necessary or convenient for the furnishing of utility and other similar services or the provision of ingress or egress in respect of the Realty or other real property adjacent to or near the Realty, provided that such easements
shall not adversely affect the operations of any facilities forming a part of the Project. 
 Section 4.7 Taxes, Other Governmental
Charges and Utility Charges. 
 (a) The IDB and the Company acknowledge (i) that under present law, by reason of the
Abatement Agreement, the Project is exempt, throughout the Maximum Exemption Period, from all ad valorem taxation by the State or by any political or taxing subdivision thereof, except such taxation (if any) as is levied for educational purposes;
(ii) that under present law the income and profits (if any) of the IDB from the Project are not subject to either federal or State taxation; and (iii) that these factors, among others, induced the Company to enter into this Lease
Agreement. In the event such exemptions are terminated or deemed inapplicable to the Project, the Company may at its option terminate this Lease Agreement upon payment in full of all Debt Service then due and compliance with the other provisions of
Section 3.8 hereof, whereupon the IDB shall convey the same to the Company. However, the Company will pay, as the same respectively become due, all taxes and governmental charges of any kind whatsoever that may at any time be lawfully assessed
or levied against or with respect to the Project or any machinery, equipment or other property installed or brought by the Company onto the Realty (including, without limiting the generality of the foregoing, (i) any taxes levied on or with
respect to the income or profits of the IDB from the Project which, if not paid, will become a lien on the Project or a charge on the revenues and receipts from the Project prior to or on a parity with the lien of the Mortgages thereon and
(ii) any ad valorem taxes levied for educational purposes or assessed upon Company’s interest in the Project), and all assessments and charges lawfully made by any governmental body for public improvements that may be secured by a lien on
the Project; provided, however, that with respect to special assessments or other governmental charges that may lawfully be paid in installments over a period of years, the Company shall be obligated to pay only such installments as are required to
be paid during the Lease Term. 
 (b) The Company agrees to pay all gas, electric, light and power, water, sewer and all other
charges for the operation, maintenance, use and upkeep of the Project. 
 (c) The Company may, subject to the provisions of
the Mortgages, at its own expense and in its own name and behalf or in the name and behalf of the IDB, in good faith contest any such taxes, assessments and other charges and, in the event of any such contest, may permit the taxes, 

  

 28 

 
assessments or other charges so contested to remain unpaid during the period of such contest and any appeal therefrom, unless by such action the title of the
IDB to any part of the Project shall be materially endangered or the Project or any part thereof shall in the reasonable judgment of the Bank become subject to loss or forfeiture, in which event such taxes, assessments or charges shall be paid
forthwith by the Company. The IDB will cooperate fully with the Company in any such contest. 
 Section 4.8 Insurance. 
 (a) The Company will cause the Project to be insured and at all times keep the Project insured, including during the period of
construction of the Project (during which time such insurance may be provided by way of builders’ risk insurance), against loss and/or damage to the Project by fire and other perils (including vandalism and malicious mischief) customarily
covered by the extended coverage clause of fire insurance policies in an amount equal to the full replacement cost of the Project. The Company will pay all premiums on such insurance. All such policies shall be for the benefit of the Company, the
Bank and the IDB, as their respective interests may appear, and shall name the Bank as loss payee. All such insurance policies shall be taken out and maintained with generally recognized, responsible insurance companies, each of which shall be
qualified and authorized to assume the respective risks undertaken. 
 (b) The Company shall also take out and at all times
maintain and pay the premium on policies of general liability insurance and products liability insurance with generally recognized, responsible insurance companies, each of which shall be qualified to assume the risks undertaken, for the benefit of
the Trustee, the IDB and the Company as their interests may appear. Such general public liability insurance shall insure against liability for injuries to persons and property or death or accidental injuries arising out of the occupancy, use or
operation of the Project, in the minimum amount of $1,000,000 combined single limit coverage, and also in the aforesaid amount with respect to any vehicle used in connection with the Project. Such products liability insurance shall insure against
liability for injuries to persons and property or death or accidental injuries arising out of the use or operation of the products produced by the Company, with minimum coverage in the amount of $1,000,000. 
 All such insurance shall be provided during the entire Lease Term. The insurance policies or certificates evidencing such insurance shall be filed with
the Bank so long as any of the Bonds shall be outstanding and thereafter with the IDB. Such policies or certificates shall be filed with the Bank on or before the Issue Date. Each policy shall provide that the policy may not be cancelled or expire
without 30 days’ prior written notice of such cancellation or expiration by the insurer to the Company and the Bank. Such insurance may also be provided under a blanket insurance policy or policies. 
  

 29 

 Section 4.9 Advances. In the event that the Company fails to take out or maintain the full insurance
coverage required by this Lease Agreement, fails to pay the taxes and other charges required to be paid by the Company at the times they are required to be paid, or fails to keep the Project in as reasonably safe condition as its operating
conditions permit and the Plant in good order and repair, the IDB or the Trustee, after first notifying the Company of any such failure, may (but shall not be obligated to) take out the required policies of insurance and pay the premiums on the
same, pay such taxes or other charges, or make such repairs, renewals and replacements as may be necessary to maintain the Project in as reasonably safe condition as the Company’s operations permit and the Plant in good order and repair,
respectively; and all amounts so advanced therefor by the IDB or the Trustee shall become an additional obligation of the Company to the IDB or to the Trustee, as the case may be, which amounts, together with interest thereon at the Interest Rate
for Advances, the Company agrees to pay. Any remedy herein vested in the IDB or the Trustee for the collection of the Rentals shall also be available to the IDB and the Trustee for the collection of all such amounts so advanced. 
 Section 4.10 Damage or Destruction. Subject to the rights of the Bank under Section 4.15 of both the Tax-Exempt Credit Agreement and the
Taxable Credit Agreement, if prior to full payment of the IDB Bonds (or provision for payment thereof having been made in accordance with the provisions of the IDB Indenture) the Project is destroyed (in whole or in part) or is damaged by fire or
other casualty, the Company shall be obligated to continue to pay Rentals, to perform its other obligations and covenants hereunder and to repair, rebuild or restore the property damaged or destroyed to substantially the same condition as existed
prior to the event causing such damage or destruction, with such changes, alterations and modifications (including the substitution and addition of other property) as may be desired by the Company and as will not, in the opinion of Bond Counsel,
impair the character of the Project as a “project” under the Act or as qualifying facilities under Section 144(a)(12)(C) of the Code. 
 The Company may apply for such purpose so much as may be necessary of any Net Proceeds of insurance resulting from claims for such losses. In the event said Net Proceeds are not sufficient to pay in full the costs of
such repair, rebuilding or restoration, the Company will nonetheless complete the work thereof and will pay that portion of the costs thereof in excess of the amount of said Net Proceeds or will pay to the IDB or the Trustee on behalf of the IDB the
moneys necessary to complete the work, in which case the IDB will proceed so to complete the work. The Company shall not, by reason of the payment of such excess costs (whether by direct payment thereof or payment to the IDB or Trustee therefor), be
entitled to any reimbursement from the IDB or any abatement or diminution of the Rentals payable hereunder. Any balance of Net Proceeds remaining after payment of all the costs of such repair, rebuilding or restoration shall be paid to the Company.

 Notwithstanding the foregoing, if the Company shall determine that such repair, restoration or rebuilding is not, in whole or in part, economically
viable, then the Company may exercise its option to redeem IDB Bonds in accordance with their terms, in which case the Net Proceeds (or such portion thereof as is allocable 

  

 30 

 
to the portion of the Project not being repaired, restored or rebuilt) shall be applied to such redemption. 
 The IDB shall cooperate fully with the Company in the handling of any prospective or pending insurance claim with respect to the Project or any part
thereof. In no event will the IDB voluntarily settle, or consent to the settlement of, any prospective or pending insurance claim with respect to the Project or any part thereof without the written consent of the Company, in its sole discretion.

 Section 4.11 Condemnation. Subject to the rights of the Bank under Section 4.16 of both the Tax-Exempt Credit Agreement and the
Taxable Credit Agreement, in the event that title to, or the temporary use of, the Project or any part thereof or interest therein shall be taken under the exercise of the power of eminent domain by any Governmental Authority or by any Person acting
under governmental authorization, the Company shall be obligated to continue to pay Rentals and to perform its other obligations and covenants hereunder. If the Company so elects, the IDB and the Company will cause the Net Proceeds received by them
or the Trustee or any of them from any award made in such eminent domain proceedings to be applied, as shall be directed in writing by the Company within 124 days from entry of a final order in such eminent domain proceedings, to: 
 (a) the restoration of the remaining improvements located on the Realty to substantially the same condition as existed prior to the
exercise of the power of eminent domain, and/or 
 (b) the acquisition, by construction or otherwise, by the IDB of other
lands or improvements suitable for the Company’s operations at the Project (which land or improvements shall be deemed a part of the Project and available for use and occupancy by the Company without the payment of any rent other than herein
provided for to the same extent as if such land or other improvements were specifically described herein and demised hereby). 
 In the event
that the Company elects either of the foregoing options and said Net Proceeds are not sufficient to pay in full the costs of such restoration or acquisition, the Company will nonetheless pay that portion of the costs thereof in excess of the amount
of said proceeds or will pay to the IDB or the Trustee on behalf of the IDB the moneys necessary to complete the work, in which case the IDB will proceed so to complete the work. The Company shall not, by reason of the payment of such excess costs
(whether by direct payment thereof or payment to the IDB or Trustee therefor), be entitled to any reimbursement from the IDB or any abatement or diminution of the Rentals payable hereunder. 
 Notwithstanding the foregoing, if the Company shall determine that such restoration or acquisition is not, in whole or in part, economically viable, then
the Company may exercise its option to redeem IDB Bonds in accordance with 

  

 31 

 
their terms, in which case the Net Proceeds (or such portion thereof as is allocable to the portion of the Project not being restored) shall be applied to
such redemption. 
 Any balance of such Net Proceeds remaining after the application thereof as hereinabove provided shall be paid to the
Company. 
 The IDB shall cooperate fully with the Company in the handling and conduct of any prospective or pending condemnation proceeding
with respect to the Project or any part thereof and will, to the extent it may lawfully do so, permit the Company to litigate in any such proceeding in the name and behalf of the IDB, through counsel of Company’s own choice; provided, however,
if the IDB is legally required to participate through its own counsel in any such defense, the Company shall be responsible for the reasonable fees and charges of such counsel. In no event will the IDB voluntarily settle, or consent to the
settlement of, any prospective or pending condemnation proceeding with respect to the Project or any part thereof without the written consent of the Company, in its sole discretion. 
 Section 4.12 Investment and Disbursement of Net Proceeds. All moneys received by the Trustee or its designee constituting Net Proceeds shall, pending
application, be invested at the direction of the Project Supervisor, and shall (together with any investment income therefrom) be disbursed, to the extent to be used for repair, rebuilding, restoration, acquisition or construction, as provided in
this Lease Agreement and the IDB Indenture for the investment and disbursement of moneys in the Construction Fund. 
 Section 4.13
Environmental Assurances. The Company represents and warrants that it has made adequate investigation to determine whether the activities planned by the Company at the Project are or should be (under applicable federal, state or local law or
regulation) the subject of a permit or permit application and that either: (a) no such permit is currently required; or (b) any and all required or applicable permits have been obtained in writing prior to the execution of this Lease
Agreement. To the best of the Company’s knowledge, as to the Project, there exists no condition, fact, occurrence, past happening or other matter which does or might constitute a violation of any federal, state or local environmental statute,
rule, code, ordinance or regulation. In the event that, during the Lease Term or any extension thereof, any condition, fact, occurrence, past happening or other matter occurs which does or might constitute a violation of any federal, state or local
environmental statute, rule, code, ordinance or regulation, the Company will immediately notify the IDB, the appropriate Governmental Authorities and the Bank in writing, and will take immediate action to cure any such violation and will indemnify
and hold harmless the IDB and the Bank from and against any and all claims, administrative and judicial proceedings and orders, judgments, remedial action requirements and enforcement actions of any kind, and all costs and expenses incurred in
connection therewith (including but not limited to attorneys’ fees and expenses), arising directly or indirectly, in whole or in part, out of such violation. 
  

 32 

 In addition, if the IDB or the Bank has reasonable basis to believe an environmental problem may exist,
the IDB or the Bank shall be entitled to require the Company (at the Company’s sole expense) to obtain appropriate environmental assessment studies or investigations of the Project to determine compliance with this paragraph. Should the Company
decline to obtain such studies or investigations, the IDB or the Bank shall be entitled to procure the same and the cost thereof, together with interest thereon at the Interest Rate for Advances from the date the cost was incurred, may be added to
the amounts due under Section 3.3(c) hereof or the indebtedness secured by the IDB Indenture, as the case may be. Should any such matter be reported to the IDB or the Bank, or should the IDB or the Bank otherwise become aware of any such matter, the
IDB or the Bank may (at its option) require the Company to purchase environmental indemnification, liability and/or casualty insurance (provided the same is available and not economically infeasible to purchase) indemnifying the IDB and the Bank
against any loss or damages (including the costs of cure) arising from environmental defects in or occurrences with respect to the Project. 
 The Company shall, at all times throughout the Lease Term, comply with all rules, regulations and guidelines promulgated by any Governmental Authority concerning the storage and containment at the Project of any petroleum products and the
prevention and, if necessary, correction and clean-up of any petroleum-related occurrence happening on or related to any part of the Project. 
 The parties acknowledge that all responsibility for the management, control or disposal of waste materials (whether hazardous or otherwise) on any part of the Project is and shall be that of the Company, and that neither the IDB nor the
Bank has any authority or ability to control or manage the disposal or handling of waste materials on any part of the Project. 
 Section 4.14 Hazardous Waste. The Company expressly represents that no part of the Project has in the past been used, is now being used, or will in the future be used for the handling, transportation or disposal of hazardous or toxic
materials. The Company shall not generate, manufacture or dispose of, on, under or about the Project, or transport to or from the Project, any flammable explosives, radioactive materials or any other substances defined as or included in a definition
of “hazardous substances”, “hazardous waste”, “hazardous materials”, or “toxic substances” under any applicable federal or state laws or regulations in effect during the Lease Term (collectively referred to
herein as “Hazardous Materials”); and the Company shall employ all due care in the event it should use or store any Hazardous Materials in connection with its operations at the Project. The Company covenants that it is in compliance and
will maintain compliance with all the provisions of the Federal Water Pollution Control Act, Comprehensive Environmental Response, Compensation and Liability Act of 1980, and Solid Wastes Disposal Act (Article 1, Chapter 27, Title 22 of the Code of
Alabama of 1975, as amended) and other similar federal, state and local statutory schemes imposing liability on the Company. 
 The Company
hereby agrees to indemnify the IDB and the Bank and hold the IDB and the Bank harmless from and against any and all claims, administrative and judicial proceedings and orders, judgments, remedial action requirements and enforcement actions of any
kind, and all costs and expenses incurred in connection therewith (including but not limited to attorneys’ fees, paralegal charges and expenses), arising directly or indirectly, in whole or in part, out of (a) the use or presence on or
under any part of the Project of any Hazardous Materials or releases or discharges of Hazardous Materials on, under or from any part of the Project; (b) any activity carried on or undertaken on or off any part of the Project, whether prior to
or during the Lease Term, and whether by the Company, any predecessor to the Company in title to or possession of the Project, any employees, agents, contractors or subcontractors of the Company or any such predecessor, or any other Persons at any
time occupying or present on 

  

 33 

 
the Project, in connection with the treatment, decontamination, handling, removal, storage, clean-up, transport or disposal of any Hazardous Materials at any
time located or present on or under any part of the Project; and (c) any breach of the covenants contained in this Section. The foregoing indemnity shall further apply to any residual contamination on or under any part of the Project or affecting
any natural resources arising out of the generation, use, handling, storage, transport or disposal of any Hazardous Materials, irrespective of whether any such activities were or are hereafter undertaken in accordance with applicable laws,
regulations, codes and ordinances. The obligations of the Company to indemnify and hold harmless under this Section and Section 4.13 hereof shall survive any or all of the following: (i) the payment in full of the Bonds, (ii) any
termination of this Lease Agreement, (iii) any foreclosure of any security interest in or mortgage on the Project and (iv) any transfer of the Project by deed in lieu of foreclosure pursuant to the Mortgages. 
 [END OF ARTICLE IV] 
  

 34 

 ARTICLE V 
 ADDITIONAL AGREEMENTS AND COVENANTS 
 Section 5.1 General Covenants. The Company will not do or
permit anything to be done on or about the Project that will affect, impair or contravene any policies of insurance that may be carried on the Project or any part thereof against loss or damage by fire, casualty or otherwise. The Company will, in
the use of the Project and the public ways abutting the same, obtain all Necessary Authorizations and comply with all lawful requirements of all Governmental Authorities; provided, however, the Company may, at its own expense in good faith, contest
the validity or applicability of any such requirement. 
 Section 5.2 Inspection of Project. The Company will permit the IDB, the
Trustee and their respective duly authorized agents at all reasonable times during normal business hours and on reasonable advance notice to enter upon, examine and inspect the Project and, provided the same shall not unduly infringe on trade
secrets or processes of the Company, to have access. to, inspect, examine and make copies of the books and records, accounts and data of the Company pertaining to the Project. 
 Section 5.3 Indemnification. The Company releases the IDB from, agrees that the IDB shall not be liable for, and indemnifies the IDB against, all
liabilities, claims, costs and expenses imposed upon or asserted against the IDB, in the absence of gross negligence, bad faith or willful or wanton misconduct on the part of the IDB, on account of: (a) any loss or damage to property or injury
to or death of or loss by any person that may be occasioned by any cause whatsoever pertaining to the construction, maintenance, operation and use of the Project; (b) any breach or default on the part of the Company in the performance of any
covenant or agreement of the Company under this Lease Agreement or any other Company Document, or arising from any act or failure to act by the Company, or any of its agents, contractors, servants, employees or licensees; (c) the authorization,
issuance and sale of the IDB Bonds, and the provision of any information furnished by the Company or its authorized agents in connection therewith concerning the Project or the Company (including, without limitation, any information furnished by the
Company referred to in Section 2.3(m) hereof); and (d) any claim, action or proceeding brought with respect to the matters set forth in (a), (b) or (c) above. 
 The Company agrees to indemnify each Fiduciary (as defined in the Indentures, and including the Trustee and the Registrar) for and to hold it harmless
against all liabilities, claims, costs and expenses incurred without negligence, bad faith or willful or wanton misconduct on the part of such Fiduciary on account of any action taken or omitted to be taken by such Fiduciary in accordance with the
terms of this Lease Agreement, the Bonds or the Indentures or at the request or with the consent of the Company, including the costs and expenses of such Fiduciary in defending itself against any such claim, action or proceeding brought in
connection with the exercise or performance of any of its powers or duties under any such instrument. 
  

 35 

 In case any action or proceeding is brought against the IDB or any Fiduciary in respect of which
indemnity may be sought hereunder, the party seeking indemnity shall promptly give notice of that action or proceeding to the Company, and the Company upon receipt of that notice shall have the obligation and the right to assume the defense of the
action or proceeding; provided that failure of a party to give that notice shall not relieve the Company from any of its obligations under this Section unless that failure materially prejudices the defense of the action or proceeding by the Company.
At its own expense, an indemnified party may employ separate counsel and participate in the defense. The Company shall not be liable for any settlement without its consent, unless it shall have failed after due notice to participate in such
proceedings. 
 The indemnification set forth above is intended to and shall include the indemnification of all affected officials,
directors, officers and employees of the IDB and each Fiduciary, respectively. That indemnification is intended to and shall be enforceable by the IDB and each Fiduciary, respectively, to the full extent permitted by law. The covenant of indemnity
by the Company contained in this Section shall survive the termination of this Lease Agreement. 
 Section 5.4 Company Not to Adversely
Affect Exclusion from Gross Income. The Company hereby represents that it has taken and caused to be taken, and covenants that it will take and cause to be taken, all actions that may be required of it, alone or in conjunction with the IDB, for the
interest on the IDB Bonds to be and remain excluded from gross income for federal income tax purposes, and represents that it has not taken or permitted to be taken on its behalf, and covenants that it will not take or permit to be taken on its
behalf, any actions that would adversely affect such exclusion under the provisions of the Code. 
 Section 5.5 Covenants Under Other
Company Documents. The Company shall observe and perform all covenants and agreements to be observed or performed by the Company under the other Company Documents. 
 Section 5.6 Rebate Fund Calculations and Payments. Within 20 days after each Computation Date, the Company shall calculate with respect to the IDB Bonds the amount of Excess Earnings as of that Computation Date
and shall notify the Trustee of that amount, whereupon the Trustee shall notify the Company in writing of the amount then on deposit in the Rebate Fund. If the amount then on deposit in the Rebate Fund is less than the amount of Excess Earnings
(computed by taking into account the amount or amounts, if any, previously paid to the United States pursuant to Section 407 of the IDB Indenture and this Section), the Company shall, within five days after the date of the aforesaid notice, pay
to the Trustee for deposit in the Rebate Fund an amount sufficient to cause the Rebate Fund to contain an amount equal to the Excess Earnings (computed as aforesaid); provided no such payment shall be required with respect to earnings on a bona fide
debt service fund during any Bond Year when the gross earnings on such fund during the Bond Year were less than $ 100,000. The obligation of the Company to make such payments shall remain in effect and be binding upon the Company notwithstanding the
release and discharge of the IDB Indenture or the termination of this Lease Agreement. 
  

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 The provisions of this Section 5.6 shall not apply if and to the extent that the IDB, the Company and the
Trustee receive a Non-Taxability Opinion regarding the failure to comply therewith. 
 Section 5.7 Investment of Fund Moneys. At the
written direction of the Company, any moneys held as part of the Bond Fund and the Bond Purchase Fund (except for moneys therein (i) held pursuant to Section 403 of the IDB Indenture, (ii) to pay Unsurrendered Bonds (as defined in the IDB
Indenture) or (iii) representing proceeds of a drawing under the Letter of Credit, which moneys shall be either held in cash and not invested or invested only in Government Obligations with a maturity of not to exceed 30 days or fewer, as
needed), the Rebate Fund and the Construction Fund shall be invested or reinvested by the Trustee in Eligible Investments (as defined in the IDB Indenture). The Company will not issue, or permit to be issued on its behalf, any instructions for the
investments of any moneys in the Construction Fund, the Rebate Fund, the Bond Purchase Fund or the Bond Fund if, as a result of any such investment being made in accordance therewith, the IDB Bonds would be considered “arbitrage bonds”
within the meaning of Section 148 of the Code or “hedge bonds” within the meaning of Section 149(g) of the Code. Additionally, the IDB and the Company will continually comply with all provisions of the Code necessary in order to
prevent the IDB Bonds from being considered “arbitrage bonds” within the meaning of Section 148 of the Code or “hedge bonds” within the meaning of Section 149(g) of the Code. 
 Any officer of the IDB having responsibility for issuing the IDB Bonds, in conjunction with the Company or any officer, employee or agent of or
consultant to the Company, shall give an appropriate certificate of the IDB pursuant to said Section 148 of the Code, for inclusion in the transcript of proceedings for the IDB Bonds, setting forth the reasonable expectations of the IDB as of
the Issue Date regarding the amount and use of the proceeds of the IDB Bonds and the facts, estimates and circumstances on which those expectations are based. The Company shall provide the IDB with, and the IDB’s certificate may be premised on,
a certificate of an appropriate officer, employee or agent of or consultant to the Company setting forth the reasonable expectations of the Company as of the Issue Date regarding the amount and use of the proceeds of the IDB Bonds and the facts,
estimates and circumstances on which those expectations are based. 
 Section 5.8 Letter of Credit; Alternate Credit Facility.

 (a) On or before the Issue Date, the Company shall cause to be delivered to the Trustee the Initial Letter of Credit. The
Company may at any time and from time to time, but shall not be required to, deliver a Substitute Letter of Credit to the Trustee in substitution for the Existing Letter of Credit. 
  

 37 

 (b) The following provisions define the Company’s alternative obligations with
respect to a Substitute Letter of Credit, depending on the event prompting delivery thereof: 
 (1) The Company shall give the
Trustee at least 45 days’ prior written notice of a proposed Letter of Credit Substitution Date, which notice shall specify (A) the name of the issuer of the proposed Substitute Letter of Credit, (B) the branch address, contact person
and phone number with respect to such issuer, (C) any short-term or long-term ratings assigned by any Rating Agency to the obligations of such issuer, (D) the name of the counsel to such issuer which shall render the opinion required pursuant
to subsection (d)(3) of this Section 5.8 and (E) the proposed Letter of Credit Substitution Date. Not fewer than 10 days prior to a proposed Letter of Credit Substitution Date, the Company shall deliver to the Trustee a binding commitment
for the issuance of such Substitute Letter of Credit and the Related Documentation. 
 (2) At least 65 days prior to the
Stated Termination Date of the Existing Letter of Credit, the Company shall, unless it has determined to let the IDB Bonds become subject to Mandatory Tender in connection with such Stated Termination Date, furnish or cause to be furnished to the
Trustee either (A) a binding commitment from the Bank for the issuance of an Extension Letter of Credit, or (B) a binding commitment for the issuance of a Substitute Letter of Credit from the issuer thereof, accompanied by the information
set forth in the first sentence of subsection (b)(1) of this Section 5.8. 
 (3) If the Company intends that the IDB
Bonds be secured by a Letter of Credit following a Proposed Conversion Date (as defined in the IDB Indenture), the Company shall, at the time it gives the notice required under Section 202(g) or (h) of the IDB Indenture, furnish or cause
to be furnished to the Trustee a binding commitment for the issuance of a Substitute Letter of Credit from the issuer thereof, accompanied by the information set forth in the first sentence of subsection (b)(1) of this Section 5.8. 

(c) Each Substitute Letter of Credit delivered to the Trustee pursuant to this Section must meet the following criteria: 
 (1) if such Substitute Letter of Credit will be effective during a Seven-Day Rate Period (as defined in the IDB Indenture), such
Substitute Letter of Credit shall be substantially in the same form and of the same tenor as the Initial Letter of Credit, including provision for the payment of interest on the IDB Bonds (or the interest portion of the purchase price of IDB Bonds
tendered, or deemed tendered, for purchase) for a period of 36 days at the maximum rate per annum, specified in such Substitute Letter of Credit, at which there has been calculated the amount available to be drawn thereunder with respect to interest
on the IDB Bonds; 
  

 38 

 (2) if such Substitute Letter of Credit will be effective during a Yearly Fixed Rate
Period or the Permanent Fixed Rate Period (both as defined in the IDB Indenture), such Substitute Letter of Credit shall be substantially in the same form and of the same tenor as the Initial Letter of Credit, except that such Substitute Letter of
Credit must provide for the payment of (A) interest on the IDB Bonds (or the interest portion of the purchase price of IDB Bonds tendered, or deemed tendered, for purchase) for a period of 210 days at the rate per annum to be borne by the IDB
Bonds during such Yearly Fixed Rate Period or Permanent Fixed Rate Period, plus (B) an amount equal to 2% of the then principal amount of the IDB Bonds, to enable the Trustee to pay the redemption premium on the IDB Bonds in the event of the
optional redemption thereof; 
 (3) the effective date of such Substitute Letter of Credit shall be (A) the Conversion
Date, (B) the first Business Day of the calendar month in which the Stated Termination Date is to occur or (C) the Letter of Credit Substitution Date (which may in no event be later than the first Business Day of the calendar month in which the
Stated Termination Date is to occur), whichever shall have been the corresponding event prompting delivery of the Substitute Letter of Credit; and 
 (4) such Substitute Letter of Credit must have a Stated Termination Date that is not sooner than one year after its effective date. 
 (d) Each Substitute Letter of Credit (other than any Extension Letter of Credit) delivered to the Trustee shall be accompanied by the
following Related Documentation, if and to the extent applicable: 
 (1) if the short-term or long-term obligations of the
issuer of the proposed Substitute Letter of Credit are then rated, a letter from each Rating Agency that maintains any such rating stating (A) such rating or ratings, (B) that such Rating Agency has reviewed the proposed Substitute Letter
of Credit, and (C) the rating or ratings, if any, that such Rating Agency has assigned or would assign to the IDB Bonds (if any such ratings be then sought) by reason of the substitution; 
 (2) a Non-Taxability Opinion further opining to the effect that such Substitute Letter of Credit is authorized by this Lease Agreement and
the IDB Indenture; and 
 (3) an opinion of counsel for the issuer of such Substitute Letter of Credit to the effect that
(A) such Substitute Letter of Credit is a valid, binding and enforceable obligation of the issuer thereof; (B) use of the proceeds of a drawing on such Substitute Letter of Credit to pay Debt Service on or Purchase Price of the IDB Bonds
would not constitute an avoidable preference under Section 547 of the Bankruptcy Code recoverable under Section 550 thereof in the event of the filing of a petition thereunder by or against the Company or by the IDB; and (C) the Substitute
Letter of Credit and the IDB Bonds are not required to be registered under the Securities Act of 1933, as 

  

 39 

 
amended, and the IDB Indenture is not required to be qualified under the Trust Indenture Act of 1939, as amended. 
 (e) At the close of business on the effective date of any Substitute Letter of Credit, the Trustee shall return the Existing Letter of
Credit to the issuer thereof, provided that any draws on such Existing Letter of Credit made on or prior to such date have been honored. Any draws that, under the terms of the IDB Indenture, are to be made on the Letter of Credit on or prior to the
effective date of a Substitute Letter of Credit shall be made under the Existing Letter of Credit. Not later than the close of business on the effective date of a Substitute Letter of Credit, the Bank shall deliver to the Trustee written evidence
that all obligations of the Company to the issuer of the Existing Letter of Credit for reimbursement of amounts drawn thereunder shall have been satisfied, and upon receipt of such evidence any Bank Bonds held by the Tender Agent (as both said terms
are defined in the IDB Indenture) under the IDB Indenture for the benefit of the issuer of the Existing Letter of Credit shall be delivered to, or upon the order of, the Company. 
 (f) The Company may, at its option, provide for the delivery to the Trustee of an Alternate Credit Facility to supplement the Letter of
Credit or to provide credit enhancement in place of a Letter of Credit. Any such Alternate Credit Facility shall be payable to the Trustee for the benefit of the Holders and shall have administrative provisions satisfactory to the Trustee. The
preconditions for delivery of an Alternate Credit Facility shall be identical in substance to those detailed in this Section for delivery of a Substitute Letter of Credit, with such modifications, however, as shall be appropriate to comport with the
form and character of the Alternate Credit Facility. 
 [END OF ARTICLE V] 
  

 40 

 ARTICLE VI 
 EVENTS OF DEFAULT AND REMEDIES 
 Section 6.1 Events of Default. Each of the following shall be
an Event of Default under this Lease Agreement: 
 (a) Failure by the Company to make when due any payment of Basic Rent and
continuation of such failure for a period of five days. 
 (b) Failure by the Company to make any other payments due hereunder
or to observe and perform any other covenant, condition or agreement on its part to be observed or performed and continuation of such failure for a period of 30 days after written notice, specifying such failure and requesting that it be remedied,
shall have been given to the Company by the IDB or the Trustee, unless the IDB and the Trustee shall agree in writing to an extension of such time prior to its expiration; provided, however, if the failure stated in the notice can be corrected but
not within the applicable period, it shall not constitute an Event of Default if corrective action is instituted by the Company within the applicable period and diligently pursued until the failure is corrected. 
 (c) The occurrence of an Act of Bankruptcy; provided, however, that if any such petition or proceeding is filed against the Company, such
filing shall not constitute an Event of Default hereunder unless such petition shall remain undismissed for a period of 120 days after filing; provided further, however, that the occurrence of an Event of Default under this subsection and the
exercise of remedies upon any such occurrence shall be subject to any applicable limitations of federal or state law affecting or precluding such occurrence or exercise during the pendency of or immediately following any liquidation or
reorganization proceedings. 
 (d) There shall occur an Event of Default under and as defined in (i) either Indenture,
(ii) the Tax-Exempt Credit Agreement or (iii) the Taxable Credit Agreement. 
 (e) Any representation or warranty
made by the Company herein or any statement in any report, certificate, financial statement or other instrument furnished in connection with this Lease Agreement, any other Company Document or the issuance and sale of the Bonds shall at any time
prove to have been false or misleading in any material respect when made or given. 
  

 41 

 Section 6.2 Remedies on Default. Whenever any such Event of Default shall have happened and be
continuing, the Trustee, as assignee of the IDB and on its behalf, or (but only as to any Unassigned Rights) the IDB, may: 
 (a) Declare all installments of Basic Rent payable under this Lease Agreement for the remainder of the Lease Term to be immediately due and payable; 
 (b) Re-enter and take possession of the Project, without terminating this Lease Agreement, exclude the Company from possession thereof and
sublease the Project or any part thereof, for the account of the Company, holding the Company liable for the difference in the rent and other amounts payable by such sublessee and the Rentals and other amounts payable by the Company hereunder;

 (c) Terminate this Lease Agreement, exclude the Company from possession of the Project and lease the same for the account
of the IDB, holding the Company liable for all Rentals due up to the date such lease is made for the account of the IDB; 
 (d) Take whatever action at law or in equity may appear necessary or desirable to collect the Rentals then due, whether by declaration or otherwise, or to enforce any obligation, covenant or agreement of the Company under this Lease
Agreement or imposed by any applicable law. 
 The IDB may, without consent of the Trustee, waive any Event of Default hereunder with respect to Unassigned
Rights, and the Trustee may not, without the written consent of the IDB, waive any Event of Default hereunder with respect to Unassigned Rights. 
 Section 6.3 No Remedy Exclusive. No remedy herein conferred upon the Trustee or reserved to the IDB is intended to be exclusive of any other available remedy or remedies, but each and every such remedy shall be cumulative and shall be in
addition to every other remedy given under this Lease Agreement or now or hereafter existing at law or in equity or by statute. No delay or omission to exercise any right or power accruing upon any default shall impair any such right or power or
shall be construed to be a waiver thereof but any such right or power may be exercised from time to time and as often as may be deemed expedient. 
 Section 6.4 Agreement to Pay Attorneys’ Fees and Expenses. In the event the Company should default under any of the provisions of this Lease Agreement and the IDB or the Trustee (in its own name or in the name and on behalf of the
IDB) should employ attorneys or incur other expenses for the collection of Rentals or the enforcement of performance or observance of any obligation or agreement on the part of the Company herein contained, the Company will on demand therefor pay to
the IDB and/or the Trustee the reasonable fees of such attorneys and such other reasonable expenses so incurred; and such amounts shall bear interest at the Interest Rate for Advances from the date of demand to the date of payment. 
 Section 6.5 No Additional Waiver Implied by One Waiver. In the event any agreement contained in this Lease Agreement should be breached by either
party and thereafter waived by the other party, such waiver shall be limited to the particular breach so waived and shall not be deemed to waive any other breach hereunder. 
 [END OF ARTICLE VI] 
  

 42 

 ARTICLE VII 
 MISCELLANEOUS 
 Section 7.1 Prior Agreements Canceled. This Lease Agreement shall completely and
fully supersede all other prior agreements, both written and oral, between the IDB and the Company relating to the acquisition, construction or equipping of the Project, except that the provisions of the Abatement Agreement have been reaffirmed and
incorporated by reference herein. Notwithstanding the preceding sentence, the Abatement Agreement is hereby amended, in accordance with the provisions of the Abatement Act (as therein defined), to provide that, although the abatements granted
therein took effect on and after the date of the Abatement Agreement, the Maximum Exemption Period shall expire on the tenth anniversary of the Issue Date. No party to any such prior agreement (except as hereinabove referenced) shall hereafter have
any rights thereunder but shall look solely to this Lease Agreement for definition and determination of all of its rights, liabilities and responsibilities relating to the Project. 
 Section 7.2 IDB’s Liabilities Limited. 
 (a) The covenants and agreements contained in this Lease Agreement shall never constitute or give rise to a personal or pecuniary liability or charge against the general credit of the IDB, any members of the IDB or of
its Board of Directors or any of its servants, agents or employees, and in the event of a breach of any such covenant or agreement, no personal or pecuniary liability or charge payable directly or indirectly from the general assets or revenues of
the IDB shall arise therefrom. Nothing contained in this Section, however, shall relieve the IDB from the observance and performance of the covenants and agreements on its part contained herein. 
 (b) No recourse under or upon any covenant or agreement of this Lease Agreement shall be had against any past, present or future
incorporator, officer or member of the Board of Directors of the IDB, or any of its servants, agents or employees, or of any successor corporation, either directly or through the IDB, whether by virtue of any constitution, statute or rule of law, or
by the enforcement of any assessment or penalty or otherwise; it being expressly understood that this Lease Agreement is solely a corporate obligation, and that no personal liability whatever shall attach to, or is or shall be incurred by, any
incorporator, officer or member of the Board of Directors of the IDB or any successor corporation, or any of them, under or by reason of the covenants or agreements contained in this Lease Agreement. 
 (c) The liability of the IDB for payment of any money due under any contract or purchase order entered into by or assigned to it, or for
any other costs incurred in connection with the acquisition, construction, improvement or equipping of, or other work on, the Project shall be limited solely to (i) the available proceeds of the IDB Bonds, if and when issued, 

  

 43 

 
(ii) any money made available to the IDB for such purpose by the Company or others, and (iii) any revenues or other receipts derived by the IDB from the
Project, subject to prior encumbrances. The Company shall cause a conspicuous notice to, that effect to appear on any such contract or purchase order. 
 Section 7.3 Execution Counterparts. This Lease Agreement may be simultaneously executed in several counterparts, each of which shall be an original and all of which shall constitute but one and the same instrument.

 Section 7.4 Binding Effect. This Lease Agreement shall inure to the benefit of, and shall be binding upon, the IDB, the Company and
their respective successors and assigns. 
 Section 7.5 Amendments. So long as any of the IDB Bonds are outstanding, this Lease
Agreement may be amended only with the consent of the IDB and the Trustee and subject to the provisions of Article VII of the IDB Indenture. 
 Section 7.6 Severability. In the event any provision of this Lease Agreement shall be held invalid or unenforceable by any court of competent jurisdiction, such holding shall not invalidate or render unenforceable any other provision
hereof. 
 Section 7.7 Notices. Unless otherwise provided herein, all notices, certificates or other communications hereunder shall be in
writing, shall be deemed given and shall be sufficiently given when delivered or mailed by registered or certified mail, postage prepaid, or sent by overnight courier service, telegram or Telefax (as defined in the IDB Indenture), addressed to the
addresses set forth in Section 1007 of the IDB Indenture. Any party may, by notice given hereunder and under the IDB Indenture, designate any further or different addresses to which subsequent notices, certificates or other communications shall be
sent. 
 Section 7.8 Governing Law. This Lease Agreement shall be deemed to be a contract made under the laws of the State and for all
purposes shall be governed by and construed in accordance with the laws of the State. 
 [END OF ARTICLE VII] 
  

 44 

 IN WITNESS WHEREOF, the IDB and the Company have caused this Lease Agreement to be duly executed by their
respective duly authorized officers, all as of the date first hereinabove set forth. 
  

													
		 		 	THE INDUSTRIAL DEVELOPMENT BOARD OF THE CITY OF ARAB
					
		 	(SEAL)	 		 	 By:
	 	 /s/ illegible

		 		 		 		 	 Chairman of its Board of Directors

		 		 		 		 		 		 	
	 ATTEST:
	 		 		 		 	
						
	 /s/ illegible
	 		 		 		 		 	  
	 Secretary
	 		 		 		 		 	
		 		 		 		 		 		 	
		 		 	 HYCO ALABAMA LLC

					
		 		 		 	 By:
	 	 Hyco Holdings, LLC,

		 		 		 		 	the Managing Member of Hyco Alabama LLC
		 		 	
						
		 		 		 		 	 By:
	 	 Hyco International, Inc.,

		 		 		 		 		 	the Managing Member of Hyco Holdings, LLC
		 		 	
							
		 		 		 		 		 	 By:
	 	 /s/ Robert F. Overholser

		 		 		 		 		 		 	 Robert F. Overholser
 Vice President and Assistant Secretary

  

 45 

 ACKNOWLEDGMENT OF IDB 
  

			
	STATE OF ALABAMA	 	)
		 	:
	COUNTY OF MARSHALL	 	)

 I, the undersigned Notary Public in and for said County in said State, hereby certify that Larry
Wright, whose signature as the Chairman of the Board of Directors of The Industrial Development Board of the City of Arab is signed to the foregoing instrument and who is known to me and known to be such officer, acknowledged before me on this day
that, being informed of the contents of said instrument, he, as such officer and with full authority, executed the same voluntarily for and as the act of said Board. 
 Given under my hand and seal of office this 13th day of September, 2000. 
  

	
	
	 /s/ Brenda Garrard

	 NOTARY PUBLIC, State at Large
 My Commission Expires:
9-15-03

 (SEAL) 
  

 46 

 ACKNOWLEDGMENT OF COMPANY 
  

			
	STATE OF ALABAMA	 	)
		 	:
	COUNTY OF MARSHALL	 	)

 I, the undersigned Notary Public in and for said County in said State, hereby certify that Robert
F. Overholser, whose signature as Vice President and Assistant Secretary of Hyco International, Inc., a Delaware corporation, is signed to the foregoing instrument and who is known to me and known to be such officer, acknowledged before me on this
day that, being informed of the contents of said instrument, he, as such officer and with full authority, executed the same voluntarily for and as the act of said corporation, in its capacity as the Managing Member of Hyco Holdings, LLC, a Delaware
limited liability company, which in turn signs in its capacity as the Managing Member of Hyco Alabama LLC, a Delaware limited liability company. 
 Given under my hand and seal of office this 13th day of September, 2000. 
  

	
	
	 /s/ Dawn Barron

	 NOTARY PUBLIC State at Large
 My Commission Expires:
03-01-04

 (SEAL) 
 THIS
INSTRUMENT PREPARED BY: 
 Roy S. Goldfinger, Esq. 
 Roy S.
Goldfinger, P.C. 
 P.O. Box 231555 
 Montgomery, Alabama
36123-1555 
 (334) 395-8500 
  

 47 

 Exhibit “A” 
 Commencing at an iron pin found at a point purported to be the Northeast corner of the Southwest quarter of the Southwest quarter of Section 19, Township 8 South, Range 2 East in Marshall County, Alabama; Thence
South 89 degrees 42 minutes 11 seconds West 513.15 feet to an iron pin found, the point of beginning for the property herein described; Thence South 3 degrees 46 minutes 26 seconds West 301.92 feet to a point; Thence North 89 degrees 08 minutes 33
seconds West 772.19 feet to an iron pin found on the East margin of Arad-Thompson Road; Thence along the East margin of said Arad-Thompson Road North 1 degrees 50 minutes 28 seconds East 92.20 feet to an iron pin found on the East margin of said
Arad-Thompson Road; Thence leaving the East margin of said Arad-Thompson Road South 87 degrees 55 minutes 50 seconds East 150.00 feet to an iron pin found; Thence North 3 degrees 46 minutes 26 seconds East 200.16 feet to an iron pin found; Thence
North 89 degrees 42 minutes 11 seconds East 625.94 feet to the point of beginning containing 4.55 acres more or less. 
  

 48Lease between Ultra Metal Inc. and Huron Woods Development Corp.

 Exhibit 10.9 
 HURON WOODS DEVELOPMENT 
 CORPORATION 
 & 
 ULTRA METAL INC. 
 –Lease– 
 (Huron &
Strasburg Rds., Kitchener, Ontario) 

 TABLE OF CONTENTS 
  

			
	 ARTICLE 1
	  	1
	 DEFINITIONS
	  	1
	 1.1. Definitions
	  	1
		
	 ARTICLE 2
	  	1
	 TERM
	  	1
	 2.1. Leased Premises
	  	1
	 2.2. Term of Lease
	  	1
		
	 ARTICLE 3
	  	1
	 RENT
	  	1
	 3.1. Base Rental
	  	1
		
	 ARTICLE 4
	  	2
	 NET LEASE
	  	2
	 4.1. Intent
	  	2
		
	 ARTICLE 5
	  	2
	 TENANT’S COVENANTS
	  	2
	 5.1. Pay Rent
	  	2
	 5.2. Tenant’s Taxes
	  	2
	 5.3. Other Taxes
	  	2
	 5.4. Building Taxes
	  	3
	 5.5. Evidence
	  	4
	 5.6. Utilities
	  	4
	 5.7. Maintenance and Repairs
	  	4
	 5.8. Repair on Termination
	  	5
	 5.9. Landlord’s Recovery
	  	5
	 5.10. Heat
	  	5
	 5.11. Compliance with Regulations
	  	5
	 5.12. No Nuisance
	  	5
	 5.13. Insurance
	  	6
	 5.14. Use of Premises (Insurance)
	  	6
	 5.15. Damage To Floor From Heavy Weights
	  	7
	 5.16. Waste
	  	7
	 5.17. Pollution of Drains
	  	7
	 5.18. Environmental Hazards
	  	7
	 5.19. Liability to Invitees Licencees
	  	8
	 5.20. Tenant’s Indemnity of Landlord
	  	8
	 5.21. Inspection
	  	8
	 5.22. No Attachments on Roof Without Consent
	  	8
	 5.23. Additional Toilets
	  	9
	 5.24. Electrical Facilities
	  	9
	 5.25. Alterations
	  	9
	 5.26. Right to Show Premises
	  	9
	 5.27. Entry to View Repairs
	  	9
	 5.28. Use and Operation
	  	10
	 5.29. Notice
	  	10

			
	 ARTICLE 6
	  	10
	 LANDLORD’S COVENANTS
	  	10
	 6.1. Quiet Enjoyment
	  	10
	 6.2. Fixtures
	  	10
		
	 ARTICLE 7
	  	10
	 SIGNS
	  	10
	 7.1. Signs
	  	10
		
	 ARTICLE 8
	  	11
	 ASSIGNMENT
	  	11
	 8.1. Assigning and Sub-Letting
	  	11
		
	 ARTICLE 10
	  	12
	 REZONING AND ADDITIONS
	  	12
	 10.1. Rezoning and Additions
	  	12
		
	 ARTICLE 11
	  	12
	 DAMAGE OR DESTRUCTION
	  	12
	 11.1. Total or Partial Destruction of Premises
	  	12
		
	 ARTICLE 12
	  	13
	 DEFAULT OF TENANT
	  	13
	 12.1. Right of Re-Entry
	  	13
	 12.2. Remedies of Landlord
	  	13
	 12.3. Cure Default
	  	14
	 12.4. Liens
	  	14
	 12.5. Distress
	  	14
	 12.6. Interest
	  	14
	 12.7. Application of Receipts
	  	15
	 12.8. Cure of Default by Sub-Tenant
	  	15
		
	 ARTICLE 13
	  	15
	 BANKRUPTCY
	  	15
	 13.1. Bankruptcy
	  	15
		
	 ARTICLE 14
	  	16
	 NOTICES
	  	16
	 14.1. Notices
	  	16
		
	 ARTICLE 15
	  	16
	 COSTS
	  	16
	 15.1. Legal Costs
	  	16
		
	 ARTICLE 16
	  	16
	 ASSIGNMENT
	  	16
	 16.1. Assignment by Landlord as Security
	  	16
		
	 ARTICLE 17
	  	17
	 ESTOPPEL CERTIFICATE
	  	17
	 17.1. Estoppel Certificate or Statements
	  	17
		
	 ARTICLE 18
	  	17
	 NON WAIVER
	  	17
	 18.1. No Waiver of Default
	  	17
	 18.2. Remedies Cumulative
	  	17
		
	 ARTICLE 19
	  	18
	 EXPROPRIATION
	  	18
	 19.1. Expropriation
	  	18
		
	 ARTICLE 20
	  	18
	 OPTION TO RENEW
	  	18
	 20.1. First Option to Renew
	  	18
	 20.2. Second Option to Renew
	  	18
		
	 ARTICLE 21
	  	19
	 BUILDING EXPANSION
	  	19
	 21.1. Expansion for Benefit of Tenant
	  	19
		
	 ARTICLE 22
	  	20
	 COMPLETION OF PREMISES
	  	20
	 22.1. Completion of Premises
	  	20
		
	 ARTICLE 23
	  	20
	 MISCELLANEOUS
	  	20
	 23.1. Entire Agreement
	  	20
	 23.2. No Partnership
	  	21
	 23.3. Registration of Notice
	  	21
	 23.4. Successors
	  	21
	 23.5. Planning Act
	  	21
	 23.6. Rules and Regulations
	  	21
	 23.7. Time
	  	21
	 23.8. Force Majeure
	  	21
	 23.9. Severability
	  	22
	 23.10. Number
	  	22
	 23.11. Captions
	  	22

 THIS INDENTURE made as of the 12th day of September, 2000 
 IN PURSUANCE OF THE SHORT FORMS OF LEASES ACT 
 BETWEEN: 
 HURON WOODS DEVELOPMENT CORPORATION IN TRUST, 
 hereinafter called the “Landlord” 
 OF
THE FIRST PART; 
 - and - 
 ULTRA
METAL INC. 
 a company incorporated under the 
 laws of the Province of Ontario, 
 hereinafter called the “Tenant” 
 OF THE SECOND PART; 
 - and - 
 HYCO INTERNATIONAL INC., 
 hereinafter called
the “Guarantor” 
 OF THE THIRD PART. 
 ARTICLE 1 
 DEFINITIONS 
 1.1. Definitions 
 In this lease: 
 (a) “lands” means those certain lands situate, lying and being in the City of Kitchener, in the Regional Municipality of Waterloo, and Province
of Ontario, containing 5.7 acres more or less on the northwest corner of Strasburg Road and Huron Road, as outlined in red on Schedule “A” attached hereto. 
 (b) “the building” means the industrial building to be constructed on part of the lands containing approximately 46,852 square feet by admeasurement and all other appurtenances and improvements to be erected
upon the lands pursuant to the terms hereof, as shown on the proposed site plan attached hereto as Schedule “A-1”. 
 (c) “the
premises” means collectively the lands and the building. 
 (d) “lease year” shall mean the period of time from the
commencement date hereof to the 31st day of December next following and thereafter each consecutive twelve-month period commencing on the 1st day of January in each year with the balance, if any, of the term being less than twelve months following
the end of the last full twelve-month period of this lease. In the case of any lease year being less than twelve months, all obligations and covenants to pay rent and additional rent hereunder shall be pro-rated by multiplying the amount of such
rent and additional rent (determined for the twelve-month period commencing on the 1st day of the lease year) by the actual number of days in such lease year and by dividing the product thereof by 365. 
 (e) “consultant” means the Landlord’s architect or engineer engaged for construction of the building. 
 ARTICLE 2 
 TERM 
 2.1. Leased Premises 
 WITNESSETH that in consideration of
the rents, covenants and agreements hereinafter reserved and contained on the part of the Tenant to be paid, observed and performed, the Landlord has demised and leased and by these presents doth demise and lease the premises to the Tenant.

 2.2. Term of Lease 
 TO HAVE AND TO HOLD the
premises for and during the term of Fifteen (15) Years to be computed from and inclusive of the earlier of the date of substantial completion as determined by the consultant or the 1st day of May, 2001, and from thenceforth next ensuing and fully to
be completed and ended on the fifteenth (15) year less one (1) day. 
 ARTICLE 3 
 RENT 
 3.1. Base Rental 
 (a) An annual base rent calculated as set out below, for each year of the lease, payable in equal monthly instalments in advance on the first day of each
and every month during the term of the lease. Rent for any partial calendar months at the start or expiry of the lease shall be prorated: 
  

										
	 Year of Term
	  	Rent Per Sq. Ft.	  	Annual Rent	  	Monthly Rent
	 Yrs. 1-5
	  	$	6.75 per sq. ft.	  	$	316,251.00	  	$	26,354.25
	 Yrs. 6-10
	  	$	7.10 per sq. ft.	  	$	332,649.20	  	$	27,720.76
	 Yrs. 11-15
	  	$	7.30 per sq. ft.	  	$	342,019.60	  	$	28,501.63

 (b) The actual leaseable area of the premises shall be determined by the consultant in accordance
with BOMA industry standards and the rent payable by the Tenant shall be adjusted at the above rates in accordance with the actual area. 
  

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 (c) The Tenant shall pay, in addition to the base rent, all additional rent hereinafter reserved.

 (d) The Landlord hereby waives payment of the first month’s base rent. 
 The Landlord acknowledges receipt from the Tenant of the sum of $52,708.50, which is to be held by the Landlord and to be applied towards the second and
third months’ base rent. 
 ARTICLE 4 
 NET LEASE 
 4.1. Intent 
 The Tenant acknowledges and agrees that it is intended that this Lease is a completely carefree net lease to the Landlord, except as expressly herein set out, and that the Landlord is not responsible during the term
(or any renewal thereof) for any costs, charges, expenses and outlays of any nature whatsoever arising from or relating to the premises, or the use or occupancy thereof, or the contents thereof, or the business carried on therein, and the Tenant
shall pay all charges, impositions, costs and expenses of every nature and kind relating to the premises, save and except only for the Landlord’s mortgage payments and income taxes or any other taxes or charges levied in lieu thereof and except
as expressly set out herein. 
 ARTICLE 5 
 TENANT’S COVENANTS 
 THE TENANT COVENANTS AND AGREES WITH THE LANDLORD AS FOLLOWS:

 5.1. Pay Rent 
 To pay all rent hereby
reserved in the manner herein provided without any deduction or set-off whatsoever. 
 5.2. Tenant’s Taxes 
 To pay all taxes, rates, charges, licences, duties and assessments whatsoever, whether municipal, provincial, federal or otherwise, now or hereafter
charged, assessed, levied or imposed in respect of any personal property, fixtures, business or other activity carried out upon or in connection with the premises. 
 5.3. Other Taxes 
 The Tenant shall pay to the Landlord an amount equal to any and all goods and services taxes, sales taxes, value
added taxes, or any other taxes imposed on the Landlord with respect to base rental or additional rent, whether characterized as a goods and services tax, sales tax, value added tax or otherwise; such taxes so payable by the Tenant to be calculated
by the Landlord in accordance with the applicable legislation and to be paid to the Landlord at the same time as the amounts to which such taxes apply are payable by the Landlord or upon demand at such other time or times as the Landlord from time
to time determines. 
  

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 5.4. Building Taxes 
 (a) To pay and discharge as additional rent, an amount equal to all duties, real property taxes, local improvement rates, business taxes, assessments and payments, extraordinary as well as ordinary, whether forseen or not, as shall during
the term hereby demised be laid, levied, assessed or imposed upon the building or the premises by virtue of any present or future law, order or ordinance of Canada or the provincial, city, county or local government or of any department, office or
bureau thereof or any other governmental authority. 
 If the premises are at any time during the term of this demise assessed for the
support of separate schools for any reason other than the act, election or religion of the Landlord, the Tenant’s proportionate share of the amount of any increase in the taxes or rates payable in respect of the premises shall be paid by the
Tenant as additional rent. 
 The duties, taxes, charges, assessments and payments described in this paragraph 5.4 are sometimes referred to
herein collectively as “Taxes”. 
 Nothing herein contained shall require or be construed to require the Tenant to pay any
inheritance, income, payroll, excise, privilege, rent, estate or profit tax or any tax of similar nature that is or may be imposed upon the Landlord, unless such taxes are levied upon the rent herein reserved in lieu of the Taxes. 
 (b) That in the case of assessments for local improvements or betterments which are assessed or imposed during the term hereof and which may by law be
payable in instalments, the Tenant is only obliged to pay as additional rent such instalments as fall due during the term hereof, together with interest on deferred payments, on condition that the Tenant or the Landlord as appropriate shall take
such steps as may be prescribed by law to convert the payment of the assessment into instalment payments. Provided the Tenant is not in default, the Landlord shall make the payments of instalments and any interest thereon before any fine, penalty,
interest or cost may be added thereto for non-payment of any instalment or interest thereon. 
 (c) That in any suit or proceeding of any
kind or nature arising or growing out of the failure of the Tenant to keep any covenant contained in this paragraph 5.4, or the failure of the Landlord to remit the Taxes, the certificate or receipt of the department, office or bureau charged with
collection of the Taxes, showing that the tax, assessment or other charge was due and payable as a lien or charge against the premises (and/or the building) or that it has been paid, respectively, shall be conclusive. 
 The Tenant has the right to contest or review any assessment for taxes by legal proceedings or in such manner as the Tenant in its opinion deems
advisable, which proceedings or other steps taken by the Tenant, if instituted, shall be conducted diligently at its own expense and free of expense to the Landlord. No such contest shall defer or suspend the Tenant’s obligation to pay the
Taxes as herein provided, pending the contest, but if by law it is necessary that such payment be suspended to preserve or perfect the Tenant’s contest, the contest shall not be undertaken without there being first deposited with the Landlord a
sum of money equal to twice the amount of the Taxes that are the subject of the contest, to be held by the Landlord as an indemnity to pay such Taxes upon conclusion of the contest and all costs thereof that may be imposed upon the Landlord or the
premises. 
 (d) That any Taxes relating to a fiscal period of the taxing authority, a part of which is within the term and a part of which
is prior to the commencement of the term or subsequent to the terminal date of the term, whether or not such Taxes shall be assessed, levied, imposed or become a lien upon the premises or shall be payable during the demised term, shall be
apportioned and adjusted between the Landlord and the Tenant as of the stated date of commencement or the actual date of termination of the demised term, as the case may be. 
  

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 (e) The estimated amount of Annual Taxes to be remitted by the Landlord shall be paid monthly to the
Landlord as additional rent at the times at which rent is payable hereunder. The Landlord, in its absolute discretion, has the right to estimate the quantum of Taxes payable monthly in each lease year in order for the taxes to be paid on the due
date. When final tax bills in any year have been received, the Landlord and the Tenant will forthwith and in any event no later than sixty (60) days from receipt of the final bill, adjust all payments under this clause (e) in accordance
with such final tax bill. 
 (f) Provided that the Tenant is not in default with respect to payment of Taxes, the Landlord will pay all taxes
when the same become due and payable without interest or penalty to the department, office or bureau charged with the collection thereof. 
 5.5. Evidence

 That the Tenant upon request of the Landlord will promptly exhibit to the Landlord all bills for Taxes, which have been paid directly by
the Tenant pursuant to paragraph 5.2, which bills after inspection by the Landlord shall be returned to the Tenant. 
 5.6. Utilities 
 That the Tenant shall pay as the same become due respectively, all charges for public utilities which, without limiting the generality of the foregoing
shall include water, gas, heat, electrical power or energy, steam or hot water used upon or in respect of the premises and for fittings, machines, apparatus, meters or other things leased in respect thereof and for all work or services performed by
any corporation or commission in connection with such public utilities. In no event shall the Landlord be liable for any injury to the Tenant, its servants, agents, employees, customers and invitees or for any injury or damage to the premises or to
any property of the Tenant or to any property of any other person, firm or corporation on or about the premises caused by an interruption or failure in the supply of any such utilities to the premises. 
 5.7. Maintenance and Repairs 
 At its own expense to repair
the premises and shall maintain and keep the premises and every part thereof in a clean and sanitary condition and in accordance with all laws, directions, rules and regulations of the governmental agencies having jurisdiction and will keep the
premises (including the interior and exterior walls, roof, paved, sodded and planted areas and all permitted signs) and every part thereof in good order and repair and painted or otherwise presentable and will maintain in good order and operating
condition and replace whenever reasonably required all structural elements and the heating, air conditioning, mechanical, electrical and plumbing systems, services and equipment installed in the premises and will replace all broken glass with glass
of equal quality, provided, however, that the obligations of the Tenant hereunder shall not extend to damage by fire, lightning, tempest or other perils against which the Landlord is insured. 
 The Tenant covenants and agrees, at its own expense, to enter into and maintain throughout the term of this lease and any extension thereof, a service
and maintenance contract, with an accredited contractor, providing regular maintenance and routine replacements to the ventilation, heating and air conditioning systems and shall provide evidence of such contracts to the Landlord as may be required
from time to time. 
 The Tenant covenants and agrees, at its own expense, to enter into and maintain throughout the term of this lease and
any extension thereof, a service and maintenance contract with an accredited roofer, providing regular maintenance to the roof and membrane and shall provide evidence of such contract 

  

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to the Landlord as may be required from time to time. The Tenant may, at its option, in lieu of obtaining a maintenance contract for the roof and membrane,
pay to the Landlord in advance, on the 1st day of May in each year during the initial term of this lease commencing with the 1st day of May, 2002, an annual roof maintenance fee of $4,650.00 and upon payment of such fee, the Landlord shall assume
responsibility for the roof and membrane during the initial fifteen (15) years of this lease. 
 5.8. Repair on Termination 
 The Tenant will, at the expiration or sooner determination of the said term, peacefully surrender and yield up unto the Landlord the said premises hereby
demised with the appurtenances, together with all buildings or erections which at any time during the said term shall be made therein or thereon in good and substantial repair and condition, damage by fire, lightning and tempest or other perils
against which the Landlord is insured only excepted. 
 5.9. Landlord’s Recovery 
 In the event that the Landlord shall perform any repairs or maintenance, or pay any sum of money due or payable by the Tenant, either at the request of
the Tenant, or by reason of any default by the Tenant in performance of its covenants herein contained, the Tenant shall, forthwith after notice from the Landlord, repay to the Landlord, as additional rental hereunder, the cost of performing such
repairs and maintenance or the amount paid by the Landlord on the Tenant’s behalf, together with the Landlord’s management fee of fifteen (15%) per cent of such amount. 
 5.10. Heat 
 The Tenant shall heat the building to a reasonable temperature to prevent all pipes, plumbing
fixtures and equipment contained therein from bursting or damage. 
 5.11. Compliance with Regulations 
 The Landlord warrants that as of the date of the commencement of the lease period the premises complies in all respects with all statutes, by-laws, rules
and regulations and any other requirements of any Federal, Provincial, Municipal or other competent authority or of any of their departments, including all applicable fire regulations. However, in the event that any specific use of the premises or
operation to be carried on within the premises requires compliance with additional, and more specific statutes, by-laws, rules, regulations, or fire codes, the cost of compliance therewith only will be borne by the Tenant. Subsequent to the date of
commencement of the lease, the Tenant covenants and agrees with the Landlord to promptly comply at its own expense with all statutes, by-laws, rules and regulations, and other requirements of any federal, provincial, municipal or other competent
authority or to any of their departments, and with all rules and regulations of the Canadian Fire Underwriters’ Association from time to time in force applicable to the premises and to the business for the time being carried on by the Tenant
upon the premises or to the use or occupation of the premises by the Tenant or anyone claiming under the Tenant; provided that, in the event of default by the Tenant under this clause, the Landlord may itself comply with any such requirements as
aforesaid and collect the cost thereof from the Tenant as rent in arrears. 
 5.12. No Nuisance 
 Not to do or omit to do or permit to be done or omitted anything upon or in respect of the premises the doing or omission of which shall be or result in
a nuisance. 
  

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 5.13. Insurance 
 To pay all premiums for the following insurance which the Tenant covenants to place and maintain, with an insurance company approved by the Landlord, which approval shall not be unreasonably withheld, with loss payable to the Landlord, from
the date of commencement of the lease, and throughout the term hereof and any renewal period or periods; 
 (a) comprehensive general
liability insurance in respect of injury to or death of one or more persons or property damage with limits of not less than $2,000,000 per occurrence; 
 (b) insurance against loss or damage by fire in respect of the premises, and all improvements and equipment appurtenant thereto, to the full insurable replacement value thereof under an all-risk policy and covering
any loss of rent by the Landlord during any reconstruction period as set out in this lease; 
 (c) broad form boiler and pressure vessel
insurance (if applicable to the premises); and 
 The Landlord and the Tenant agree that all insurance requirements contained in this lease
shall be reviewed from time to time and insurance coverages will be adjusted to the amounts and types normal for comparable properties in the Province of Ontario. Any disputes concerning the amount of any of the foregoing coverages shall be
conclusively determined by a qualified insurance adjuster appointed by the Landlord. The Tenant shall insure upon a replacement cost basis the Tenant’s fixtures, equipment and merchandise, insuring the same against loss or damage by fire,
explosion, smoke or water from fire protection equipment. A certificate of all policies of insurance placed by the Tenant as aforesaid shall be delivered to the Landlord by the Tenant and all policies shall contain a clause requiring the insurer not
to cancel or change the insurance without first giving the Landlord thirty (30) days’ prior notice thereof. 
 Waiver. Neither the
Tenant nor anyone claiming by, through or under or on behalf of the Tenant shall have any claim, right of action or right of subrogation against the Landlord, its agents or employees, for or based upon any injury, loss or damage to any person or
persons or to the premises or any property therein or thereon, caused by fire, explosion or any other peril covered by a standard extended coverage insurance policy or any all risk policy, and the Tenant covenants and agrees that any and all
policies of insurance providing coverage as aforesaid shall be forthwith endorsed with a waiver of any and all subrogation rights which might otherwise vest in the insurer of such policy or policies of insurance. The Tenant covenants to provide to
the Landlord a certificate of liability insurance covering the Tenant and the Landlord in respect of the premises and its operations therein with limits of not less than $2,000,000 inclusive for injuries to or death of persons or damage to property.

 5.14. Use of Premises (Insurance) 
 (a)
Neither the Tenant nor its officers, directors, agents, servants, licensees, concessionaires, assignees or subtenants shall bring on to the premises, not do, nor omit, nor permit to be done or omitted upon or about the premises anything which shall
cause the rate of insurance upon the premises or the building or any part thereof or its contents to be increased and if the said rate of insurance shall be increased by reason of the use made of the premises or by reason of anything done or omitted
or permitted to be done or omitted by the Tenant or its officers, directors, agents, servants, licensees, concessionaires, assignees or subtenants or by anyone permitted by the Tenant to be upon the premises, the Tenant shall pay to the insurer
forthwith upon demand the amount of such increase. 
 (b) If any policy of insurance upon the building or any part thereof or the contents
shall be cancelled or refused to be renewed or granted by an insurer by 

  

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reason of the use or occupation of the premises or any part thereof by the Tenant or by any of its officers, directors, agents, servants, licensees,
concessionaires, assignees, subtenants or by anyone permitted by the Tenant to be upon the premises, the Tenant shall forthwith upon demand remedy or rectify such use or occupation and if the Tenant shall fail to do so forthwith the Landlord may at
its option terminate this lease by delivering to the Tenant notice in writing of such termination and the Tenant shall immediately deliver up possession of the premises to the Landlord and the Landlord may re-enter and take possession of the
premises and the Tenant shall thereupon pay all rent and any other payment for which the Tenant is liable under this lease, apportioned to the date of such termination, together with all losses, damages or costs of any kind arising out of the
Tenant’s breach of this provision and/or the termination of this lease under this paragraph. 
 5.15. Damage To Floor From Heavy Weights 
 That it will not bring into the building or any part thereof any machinery, equipment, article or thing that by reason of its weight, size or use might
damage the floors of the building and that if any damage is caused to the premises by any machinery, equipment, article or thing brought thereon by the Tenant by any act, neglect or misuse on the part of the Tenant or any of its servants, agents or
employees or any person having business with the Tenant, the Tenant will forthwith repair such damage, or pay the cost of repair to the Landlord, provided that the damage was not due to faulty floor design or workmanship, which if so caused, shall
be repaired at the Landlord’s expense. 
 5.16. Waste 
 The Tenant shall not do or suffer any waste or damage, disfiguration or injury to the premises or the fixtures and equipment thereof nor permit or suffer any overloading of the floors thereof and shall not use or
permit to be used any part of the premises for any dangerous, noxious or offensive trade or business and shall not do anything or permit anything to be done upon or about the premises nor anything to be brought thereon which the Landlord may
reasonably deem to be a nuisance and the Tenant shall take every reasonable precaution to protect the premises and the building from danger of fire, water damage or the elements, and the Tenant shall not allow any ashes, refuse, garbage or other
loose, objectionable material to accumulate in, on or about the premises or the building and will at all times keep them in a clean and wholesome condition. 
 5.17. Pollution of Drains 
 The Tenant shall not permit any oil or grease or any deleterious, objectionable, dangerous, poisonous
or explosive matter or substance to be discharged into waters, ditches, water courses, culverts, drains or sewers in, on or adjacent to the premises and shall take all reasonable measures for ensuring that any effluent discharged will not be
corrosive, poisonous or otherwise harmful or cause obstruction, deposit or pollution with the said waters, ditches, water courses, culverts, drains or sewers, to or within the sewage disposal works or to the bacteriological process of sewage
purification. 
 5.18. Environmental Hazards 
 (a) The Tenant covenants with the Landlord to notify the Landlord at once in the event any toxic or hazardous substances, including spent reactor fuel, other radioactive waste, PCBs or noxious gases (the “contaminants”), are
produced on or brought unto the Premises, and to enter into a contract with a properly authorized disposal authority (which contract must have the prior reasonable approval of the Landlord) for the neutralizing or disposal of such contaminants, and
the Tenant shall leave the Premises at the termination of this lease, by whatever cause, free from all pollution by such contaminants. 
  

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 (b) The Tenant covenants that it will not stockpile any toxic or hazardous substances, including spent
reactor fuel and other radioactive waste, PCBs and noxious gases, on the Premises and if such contaminants are produced on the Premises it will at once notify the landlord and enter into a contract with a properly authorized disposal authority
(which contract must have the prior reasonable approval of the Landlord) for the neutralizing or disposal of such contaminants. 
 (c) The
Tenant shall indemnify and hold harmless the Landlord from all liability from whatever source, for pollution from any cause whatsoever to or escaping from the Premises, caused by the Tenant or by whom the Tenant is responsible for in law, and this
indemnity shall survive the termination of this lease. 
 (d) The Tenant shall permit the Landlord to inspect the Premises at all times and
with such experts and technical personnel as the Landlord deems necessary, to oversee the production, storage, stockpiling and disposal of any substances deemed toxic by the Landlord or liable to cause pollution within or without the Premises and to
confirm that the Premises are free of all contaminants at the termination for whatever cause of this lease. 
 5.19. Liability to Invitees, Licencees

 The Landlord shall not in any event whatsoever be liable or responsible in any way for any personal injury or death that may be suffered
or sustained by the Tenant or any employee of the Tenant or any other person who may be upon the premises or for any loss or damage or injury to any property belonging to the Tenant or to its employees or to any other person while such property is
on the premises and in particular (but without limiting the generality of the foregoing) the Landlord shall not be liable for any damage to any such property caused by steam, water, rain or snow which may leak into, issue or flow from any part of
the building or any adjoining premises or areas or from the water, steam, sprinkler or drainage pipes or plumbing works of the same or from any other place or quarter or for any damage caused by or attributable to the condition or arrangement of any
electrical or other wiring or for any damage caused by anything done or omitted to be done by any Tenant. 
 5.20. Tenant’s Indemnity of Landlord

 That the Tenant will indemnify and save harmless the Landlord of and from all liabilities, fines, suits, claims, demands and actions of
any kind or nature to which the Landlord shall or may become liable for or suffer by reason of any breach, violation or non-performance by the Tenant of any covenant, term or provision hereof or by reason of any performance by the Tenant of any
covenant, term or provision hereof or by reason of any injury or death resulting from, occasioned to or suffered by any person or persons or any property by reason of any act, neglect or default on the part of the Tenant or any of its agents and
employees; such indemnification in respect of any such breach, violation or non-performance, damage to property, injury or death occurring during the term of the lease shall survive any termination of this lease, anything in this lease to the
contrary notwithstanding. 
 5.21. Inspection 
 That during the term any person or persons may inspect the premises and all parts thereof at all reasonable times, at the sole expense of the Landlord, on producing a written order to that effect signed by the Landlord or its agents.

 5.22. No Attachments on Roof Without Consent 
 That the Tenant shall not erect on, or affix to the roof of the building any television or radio antenna, sign, fixture or attachment of any kind without first receiving the written consent of the Landlord, which consent shall not be
unreasonably withheld. 
  

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 5.23. Additional Toilets 
 If during the term hereof, any additional toilet or sanitary conveniences are required by any competent authority to be installed in the premises by reason of the use of the premises by the Tenant, or the number of
persons employed therein, to pay to the Landlord on written demand as additional rent, the costs of the installation of such additional toilets and conveniences and to indemnify the Landlord against any order or requirement issued by any competent
authority in respect thereof. 
 5.24. Electrical Facilities 
 The Tenant shall not install or use any electrical or other equipment or electrical arrangement which may overload the electrical or other service facilities unless he does so with the express written consent of the
Landlord and at his own expense makes whatever changes are necessary to comply with the reasonable and lawful requirements of the Landlord’s insurance underwriters and governmental authorities having jurisdiction and in any event the Tenant
shall make no changes until he first submits plans and specifications for the same to the Landlord and obtains the Landlord’s written approval for such plans and specifications which will not be unreasonably withheld. 
 5.25. Alterations 
 The Tenant shall not make any
alteration, addition or improvement without first submitting the plans and specifications (including materials to be used) thereof to the Landlord, and without first obtaining the approval in writing of the Landlord, such approval not to be
unreasonable withheld. All work shall be done only by contractors who shall first be approved by the Landlord, such approval not to be unreasonably withheld. Any erection, addition or improvement placed upon the premises shall be subject to all the
provisions of this lease, and if removed as provided in this lease, the Tenant shall repair all damage caused by the installation and removal thereof. 
 5.26. Right to Show Premises 
 The Landlord or its agents and employees shall have the right at any time during business hours of
the Tenant to enter upon the premises for the purpose of exhibiting same, provided that the exercise of such rights shall not unreasonably interfere with the Tenant’s business. 
 The Landlord may at any time place upon the premises a notice stating that the premises are for sale and may, within twelve (12) months before the
termination of the term, place upon the premises a notice stating the premises are for lease, such notice or notices to be of reasonable dimensions and placed so as to not to interfere with the Tenant’s business and the Tenant shall not remove
such notice. 
 5.27. Entry to View Repairs 
 The Landlord and its agents may at all reasonable times during the term enter the premises to inspect the condition thereof, at the sole expense of the Landlord, and where such inspection reveals that repairs are necessary the Landlord may
give the Tenant notice in writing of any such need for repairs, and thereupon the Tenant will, within seven days from the date of delivery of the notice, make, or commence making and diligently proceed to complete the necessary repairs in a good and
workmanlike manner. 
  

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 5.28. Use and Operation 
 The Tenant covenants that the premises shall be used and occupied only for the purpose of manufacturing and offices as provided by the by-laws for The Corporation of the City of Kitchener and other items incidental to
the Tenant’s business and for no other purpose whatsoever. The Tenant covenants to continuously operate and conduct its said business upon the whole of the premises in an up-to-date, high class and reputable manner throughout the whole of the
term of this lease and any renewals thereof. 
 5.29. Notice 
 The Tenant covenants to notify the Landlord with immediate notice of any defect observed upon the premises. 
 ARTICLE 6 
 LANDLORD’S COVENANTS 
 THE LANDLORD COVENANTS AND AGREES WITH THE TENANT AS FOLLOWS: 
 6.1. Quiet Enjoyment 
 Provided the Tenant pays all rent reserved herein and performs all the covenants herein contained on its part to be performed, the Tenant shall have
quiet enjoyment of the premises. 
 6.2. Fixtures 
 (a) The Tenant when not in default hereunder, may remove his fixtures at the end of the initial term or any renewal thereof; provided further, however that all installations, alterations, additions, partitions and fixtures other than trade
or Tenant’s fixtures in or upon the premises, whether placed there by the Tenant or the Landlord, shall be the Landlord’s property upon termination of this lease without compensation therefor to the Tenant and shall not be removed from the
premises at any time either during or after the term hereof, and notwithstanding anything herein contained, the Landlord shall be under no obligation to repair or maintain any installations, alterations, additions, partitions and fixtures or
anything in the nature of a leasehold improvement made or installed by or for the Tenant; and further that, notwithstanding anything herein contained, the Landlord shall have the right upon the termination of this lease by affluxion of time or
otherwise to require the Tenant to remove his installations, alterations, additions, partitions and fixtures or anything in the nature of a leasehold improvement made or installed by the Tenant, and to make good any damage caused to the premises by
such installation or removal. 
 (b) Any goods, chattels, fixtures, inventory, equipment and other property of the Tenant not removed from
the premises within fourteen (14) days from the date of expiry of the term, shall be deemed to have been abandoned by the Tenant and the Landlord may thereupon remove and dispose of them, retain them or convey them to a new Tenant or otherwise
deal with them in any manner whatsoever without compensation to the Tenant. 
 ARTICLE 7 
 SIGNS 
 7.1. Signs 
 The Tenant shall not affix or have exposed any signs, signboards, advertisement, window drapes, blinds or awnings or indication of the Tenant on any part
of the premises, without written approval of the Landlord, which approval shall not be unreasonably withheld, providing the same shall comply with the lawful requirements of the municipal and governmental authorities (and provided that the same
shall be in accordance with the sign design criteria established for the premises by the Landlord.) 
  

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 The Landlord, in approving such signs, shall have regard to: 
 (a) the aesthetic appeal of the building; and 
 (b) the need, as a primary purpose to identify and not to advertise the Tenant. 
 The signs shall remain the property of the Tenant and shall be
removed by it on the termination of the term hereby granted. Upon the removal of any such signs, the premises shall be restored to its original condition except for reasonable wear and tear. The Tenant shall indemnify the Landlord against any loss
or damage caused to any person or property as a result of the placing, use or removal of any sign placed by it on the premises. 
 ARTICLE
8 
 ASSIGNMENT 
 8.1. Assigning and
Sub-Letting 
 (a) The Tenant will not assign, setover, transfer, ub-let or sub-lease, hypothecate, encumber or in any way deal with or part
with the whole or any part of the said premises to anyone, for or during the whole or any part of this term, without written consent first being obtained from the Landlord, but such consent shall not be unreasonably withheld. 
 Provided, however, and it is made a condition to the giving of such consent that: 
 (1) the proposed assignee or sub-lessee of the lease shall agree in writing to assume and perform all of the terms, covenants, conditions
and agreements by this lease imposed upon the Tenant herein in a form to be approved by the solicitor for the Landlord; and 
 (2) in the event of an assignment consented to by the Landlord, the Tenant shall nonetheless remain responsible to the Landlord for the fulfillment of all obligations created by this lease. 
 (3) the Tenant shall pay to the Landlord an amount of $550.00 in advance plus any legal fees charged by the Landlord’s solicitors in
connection with the application for consent herein. It is understood that this amount represents a reasonable cost to the Landlord for reviewing such application. 
 (b) For the purposes of this Section, any sale or other disposition of whatsoever nature and kind and any issue of shares, merger or statutory amalgamation resulting in a change in the beneficial ownership, whether
directly or indirectly of the shares of the Tenant or any corporation which has de facto control over the Tenant, either directly or by reason of the holding of shares in any other corporation or corporations shall be deemed to be an assignment by
the Tenant of this lease. 
 NOTWITHSTANDING THE FOREGOING, the Landlord hereby consents to the Tenant subletting or assigning the premises
to any affiliate of the Tenant or to the Tenant’s parent corporation, provided that the Tenant advises the Landlord in writing of such assignment of subletting, subject to the Landlord approving the financial condition of the affiliate and/or
parent corporation, which approval shall not be unreasonably withheld. For the purposes of this lease, the term “affiliate” shall have the same meaning as that promulgated by the Securities and Exchange Commission and those statutes
administered by the Securities and Exchange Commission (U.S.). 
  

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 ARTICLE 9 
 OVERHOLDING 
 9.1. Monthly Tenancy 
 If the Tenant shall continue to occupy the premises after the expiration of the term of this lease, with the consent of the Landlord and without any further written agreement, the Tenant shall be a monthly tenant at a
monthly rental equal to 120% of the monthly instalments of base rental payable on the last monthly payment date during the term of any renewal thereof, together with additional rent payable hereunder during the term hereby granted or any renewal
thereof, such rental to be payable in advance on the first day of each and every month and such monthly tenancy to be on the terms and conditions and subject to all other charges and amounts payable herein set out except as to length of tenancy.

 ARTICLE 10 
 REZONING
AND ADDITIONS 
 10.1. Rezoning and Additions 
 The Tenant covenants that it will not oppose or cause to be opposed any application for buildings or changes of zoning concerning the lands on which the premises forms a part or any lands of the Landlord within a radius of one (1) mile
of the demised premises, which are instituted by the Landlord, provided the ability of the Tenant to use the premises for the purposes herein provided is not adversely affected thereby. 
 ARTICLE 11 
 DAMAGE OR DESTRUCTION 
 11.1. Total or Partial Destruction of Premises 
 Whenever
during the term the premises shall be destroyed or damaged by fire, lightning or tempest, or any of the perils insured in respect of which the Landlord is insured, the following terms shall apply: 
 (a) If the damage or destruction is such that the premises are rendered wholly unfit for occupancy or it is impossible or unsafe to use and occupy them
and if in either event, in the reasonable opinion of the Landlord, to be given to the Tenant within ten (10) days of the happening of such damage or destruction, the damage cannot be repaired with reasonable diligence within one
hundred & twenty (120) days from the time the damage occurs, either the Landlord or the Tenant, within five (5) days next succeeding the giving of the Landlord’s opinion as aforesaid, may terminate this lease by giving to the
other notice in writing of such termination, in which event this lease shall be at an end from the date of such destruction or damage and the rent and all other payments for which the Tenant is liable hereunder shall be apportioned and paid in full
to the date of such destruction or damage; if neither the Landlord nor the Tenant terminates this lease as aforesaid, then the Landlord shall repair the premises with all reasonable speed and the rent hereby reserved including additional rent shall
abate from the date of the occurrence of the damage until the premises shall have been restored to a condition fit for the Tenant’s use and occupation; 
 (b) If the damage or destruction is such that the premises are rendered wholly unfit for occupancy or it is impossible or unsafe to use and occupy them, but if in either event, in the reasonable opinion of the
Landlord, to be given to the Tenant within ten (10) days of the happening of such damage or 

  

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destruction, the damage can be repaired with reasonable diligence within one hundred & twenty (120) days from the time the damage occurs, the
rent hereby reserved including additional rent shall abate from the date of the occurrence of the damage until the premises shall have been restored to a condition fit for the Tenant’s use and occupation, and the Landlord shall repair the
damage with all reasonable speed; 
 (c) If in the reasonable opinion of the Landlord the damage can be made good as aforesaid within one
hundred & twenty (120) days of its occurrence and is such that the premises are capable of being partially used for the purposes for which the Tenant has used them, then until such damage has been repaired the rent hereby reserved
including additional rent shall abate in proportion as the floor area of the building rendered unfit for occupancy compares with the floor area of the whole of the building, and the Landlord shall repair the damage with all reasonable speed.

 Notwithstanding the provisions of this clause, in the event of damage or destruction occurring by reason of any cause in respect of which
proceeds of insurance substantially sufficient to pay for the cost of rebuilding or making fit the building or the premises are not payable to or received by the Landlord, the Landlord may terminate this lease on written notice; 
 Upon the termination of this lease, as herein before provided, rent and any other liabilities of the Tenant shall be apportioned and paid to the date on
which the damage or destruction occurred and the Tenant shall forthwith deliver up possession of the premises. 
 ARTICLE 12

 DEFAULT OF TENANT 
 12.1. Right of
Re-Entry 
 The Landlord may re-enter upon non-payment of rent or nonperformance of covenants subject to the provisions of this lease.

 12.2. Remedies of Landlord 
 If the Tenant
shall fail to make any payment or part thereof for fifteen (15) days after the due date therefor, or shall fail to perform or observe any other covenants, provisos or agreements contained herein, and such failure to perform or observe shall
continue for five (5) days after written notice thereof, then, and in each case, the Landlord shall have the following remedies: 
 Termination 
 (a) the Landlord may by written notice terminate this lease, without prejudice to any other rights or remedies it may
have including, without limitation, the right to receive compensation for loss of future rent and additional rent and for loss or diminution of revenue from the building, and rent and any other payments for which the Tenant is liable shall be
apportioned and paid in full to the date of such termination together with the reasonable expenses of the Landlord attributable to the termination of this lease and the Tenant shall immediately deliver up possession of the premises to the Landlord;

 Recovery of Expenses 
 (b)
the Landlord may enter the premises and perform the obligation on behalf of the Tenant, and shall not be liable for any loss or damage to the Tenant’s goods, chattels or business caused in so doing. Any reasonable expenses incurred by the
Landlord in so doing (including, without limitation, legal fees and compensation for the Landlord’s services) shall be paid by the Tenant to the Landlord forthwith on demand therefor and shall be recoverable in the same manner as rent;

  

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 Right to Relet 
 (c) the Landlord shall have the right to enter the premises and to relet them as agent for the Tenant for whatever term and on whatever conditions the Landlord shall, in its sole discretion, deem advisable, and the
Tenant shall pay to the Landlord, in monthly instalments for the balance of the term of this lease (which shall be deemed for the purposes of this subclause (c) not to have been terminated by any action of the Landlord hereunder, including the
making of alterations to the premises deemed by the Landlord to be necessary or advisable for the purpose of reletting them), any deficiency between the sum of one-twelfth of the annual rent, and additional rent payable pursuant to this lease and
the net amount, if any, of rent, and additional rent actually received by the Landlord in respect of the premises, after deducting therefrom all amounts reasonably attributable to the reletting of the demised premises or any portion thereof.

 12.3. Cure Default 
 In the event of a
default by the Tenant such as can be cured only by the performance of work or the furnishing of materials, and if such work cannot reasonably be completed or such materials reasonably obtained and/or utilized within fifteen (15) days, such
default shall not be deemed to continue if the Tenant proceeds promptly with such work as may be necessary to cure the default and diligently completes the same. 
 12.4. Liens 
 Subject to Article 22, the Tenant shall indemnify and hold the Landlord harmless from and against any liability,
claim, damages or expenses (including legal expenses) due to or arising from any claim made against the premises or the building for all liens related to all work done by or on behalf of the Tenant and all work which the Tenant is obliged to do and
any such liability, claims, damages or expenses incurred by the Landlord shall be paid by the Tenant to the Landlord forthwith upon demand; and the Tenant shall cause all registration of claims for liens and/or certificates of action under the
Construction Lien Act and relating to any such work done by or on behalf of the Tenant, and all work which the Tenant is obliged to do, to be discharged or vacated as the case may be within fifteen (15) days of such registration or within five
(5) days after notice from the Landlord, failing which the Landlord, in addition to any other rights or remedies it may have hereunder, may, but shall not be obligated to, discharge such liens and/or certificates by payment to the claimant,
payment into court, or otherwise; any such payments and the Landlord’s legal costs (on a solicitor and his client basis) and other costs of obtaining and registering such discharges shall be repaid by the Tenant to the Landlord forthwith after
notice thereof, and shall be recoverable as if the same were rent reserved and in arrears hereunder. 
 12.5. Distress 
 Subject to any waivers executed by the Landlord in favour of the Tenant’s lenders, the Tenant waives and renounces the benefit of any present or
future statute taking away or limiting the Landlord’s right of distress and covenants and agrees that notwithstanding any such statute none of the goods and chattels of the Tenant on the premises at any time during the term shall be exempt from
levy by distress for rent or any other charges. 
 12.6. Interest 
 All sums, for rent or otherwise, payable to the Landlord under the terms of this lease shall bear interest at a rate equal to two (2%) percent in excess of the rate of interest from time to time charged on demand
loans to the Landlord by its bankers from their respective due dates until the actual dates of payment. 
  

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 12.7. Application of Receipts 
 The Tenant covenants and agrees that the Landlord may, at its option, apply all sums received from the Tenant to any rent or other amounts payable hereunder in such order as the Landlord sees fit. 
 12.8. Cure of Default by Sub-Tenant 
 The Landlord agrees
that in the event of default under this lease by the Tenant, if the premises are occupied under a sub-lease from the Tenant and that Sub-Tenant has complied with paragraph 8.1(a)(1) and (2) of this lease, the Landlord shall allow such
Sub-Tenant to remain in possession of the premises under the terms of the Landlord’s lease with the Tenant provided that the Sub-Tenant pays any and all arrears owing under the Landlord’s lease with the Tenant and continues to keep the
lease in good standing. 
 ARTICLE 13 
 BANKRUPTCY 
 13.1. Bankruptcy 
 Without prejudice to any other rights or remedies available to the Landlord, the Tenant covenants and agrees that if the term hereby granted or any of the goods and chattels of the Tenant on the premises shall be at
any time during the term hereof seized or taken in execution or attachment by any creditor of the Tenant (including, without limitation, if a receiver or receiver and manager shall enter into possession of the premises) or if the Tenant shall make
any assignment for the benefit of creditors, or any bulk sale of goods on the premises, except in the ordinary course of its business, or becoming bankrupt or insolvent shall take the benefit of any Act now or hereafter in force for bankrupt or
insolvent debtors, or if a receiving order is made against the Tenant, or if any order shall be made for the winding up of the Tenant, or if the premises shall without the written consent of the Landlord become and remain vacant for a period of
thirty (30) days, or be used by any other persons than such as are en titled to use them under the terms of this lease, or if the Tenant shall without the written consent of the Landlord abandon or attempt to abandon the premises or, except in
the ordinary course of its business to sell or dispose of goods or chattels of the Tenant or to remove them or any of them from the premises so that there would not in the event of such abandonment, sale or disposal be sufficient goods on the
premises subject to distress to satisfy the rent above due or accruing due, or if the premises are used for any purpose other than that as herein provided, then in every such case, the then current month’s rent and the next ensuing six
months’ rent together with all additional charges payable by the Tenant hereunder (to be prorated if necessary) shall immediately become due and be payable and the Landlord may re-enter and take possession of the premises as though the Tenant
or the servants of the Tenant or any other occupant of the premises were holding over after the expiration of the term hereof, and the said term shall, at the option of the Landlord, forthwith become forfeited and determined, and in every one of the
cases above, such accelerated rent shall be recoverable by the Landlord in the same manner as the rent hereby reserved. 
  

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 ARTICLE 14 
 NOTICES 
 14.1. Notices 
 All written notices, consents and approvals (herein referred to as a “Notice”) permitted or required to be given hereunder shall be deemed to be sufficiently and duly given if written and delivered
personally or if sent in a prepaid registered letter deposited in a post office in Canada or transmitted by facsimile or other form of recorded communication tested prior to transmission, addressed as follows: 
  

			
		
	 Landlord:
	  	 Huron Woods Development Corporation in Trust

		
		  	 280 Victoria Street North, Unit #5

		
		  	 Kitchener, Ontario N2H 5E2

		
		  	 (Facsimile #519-579-6334)

		
	 Tenant:
	  	 Ultra Metal Inc.,

		
		  	 At the Premises

		
		  	 (Facsimile #519-725-9030)

		
	 Guarantor:
	  	 Hyco International Inc.

		
		  	 100 Galleria Parkway, Unit 1000

		
		  	 Atlanta, Georgia, U.S.A. 30339

		
		  	 (Facsimile #770-980-1936)

 Any notice so given or made shall be deemed to have been given or made and received on the date of
delivery or on the fifth (5th) business day following the date of mailing of the same or on the day of transmission by facsimile or other form of recorded communication, as the case may be. Any party from time to time by Notice may change its
address for the purpose of this Agreement by giving Notice in the manner prescribed herein. In the event of actual or threatened disruption of postal service, Notice shall be delivered personally or sent by facsimile or other form of recorded
communication tested prior to transmission. 
 ARTICLE 15 
 COSTS 
 15.1. Legal Costs 
 If the Landlord shall commence an action for collection of rent or other sums payable under this lease or if the same shall be collected upon the demand of a solicitor or if the Landlord shall commence an action to
compel performance of any of the terms, conditions, covenants or provisos under this lease or for damages for failure of the Tenant to perform the same or if the same shall be performed upon the demand of a solicitor then, unless the Landlord shall
lose such action, the Landlord shall collect from the Tenant and the Tenant shall pay to the Landlord all reasonable solicitor’s fees in respect thereof on a solicitor and his client basis. 
 ARTICLE 16 
 ASSIGNMENT

 16.1. Assignment by Landlord as Security 
 The Landlord may assign its rights under this lease to a lending institution as collateral security for a loan to the Landlord and if such an assignment is made and notification thereof is given to the Tenant, this lease shall not be
cancelled or modified for any reason whatsoever except as provided for, anticipated or permitted by the terms thereof or by law. The Tenant covenants and agrees with the Landlord that it will, if and whenever reasonably required by the Landlord and
at the Landlord’s expense, for such purposes, consent to and become a party to any instrument relating to this lease which may be required by or on behalf of any purchaser, bank, or mortgagee from time to time of the said premises; provided
always that the rights of the Tenant as hereinbefore set out shall not be altered, or varied by the terms of such instrument or document. 
  

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 ARTICLE 17 
 ESTOPPEL CERTIFICATE 
 17.1. Estoppel Certificate or Statements 
 (a) The Tenant or the Landlord at any time and from time to time upon not less than ten (10) days’ prior notice, shall execute and deliver to
the other a statement to be prepared by the Landlord, in writing certifying that this Lease is unmodified and in full force and effect (or if modified, stating the modifications and that the same is in full force and effect as modified) the amount
of the rent then being paid hereunder, the dates to which the same, by instalment or otherwise and other sums herein provided tote paid by the Tenant have been paid, stating whether or not there is any existing default on the part of the Landlord or
the Tenant as the case may be of which the other has notice, the particulars and amount of insurance policies on the premises in which the interest of the party giving such certificate is noted, the amount of prepaid rent or security deposit being
held by the Landlord, the area of the premises and the Tenant’s responsibility for payment of taxes or expenses and whether or not there is any claim, charge, defence, right to set off or counter-claim by the Tenant against the Landlord in
respect of rent or otherwise. 
 (b) Any statement delivered pursuant to the provisions of this section may be conclusively relied upon by
any purchaser or prospective purchaser or any mortgagee or prospective mortgagee of the fee or the leasehold or any other sublessee or prospective sub-lessee save as to any default on the part of the Landlord or the Tenant of which the party giving
such statement does not have notice at the date hereof. 
 (c) From time to time and upon the request of the Landlord, the Tenant shall
deliver to the Landlord the Tenant’s most recent financial statements, together with such other reasonable financial information and for such periods of time as may be requested by a mortgagee or prospective mortgagee or purchaser of the
building. 
 ARTICLE 18 
 NON WAIVER 
 18.1. No Waiver of Default 
 No condoning, excusing, overlooking or delay in acting upon by the Landlord of any default, breach or non-observance by the Tenant at any time or times in respect of any covenant, proviso or condition in this lease
shall operate as a waiver of the Landlord’s rights under this lease in respect of any such or continuing subsequent default, breach or non-observance and no waiver shall be inferred from or implied by any thing done or omitted by the Landlord
except an express waiver in writing. 
 18.2. Remedies Cumulative 
 All rights and remedies of the Landlord set forth in this lease shall be cumulative and not alternative. 
  

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 ARTICLE 19 
 EXPROPRIATION 
 19.1. Expropriation 
 If at any time during the term, all or part of the building is acquired or expropriated by any lawful expropriating authority or if, in the Landlord’s reasonable opinion, reasonable access to the building is
materially affected by any such acquisition or expropriation, then in either of such events, at the option of the Landlord, this lease shall cease and terminate as of the date of the interest acquired or expropriated vesting in such expropriating
authority and the Tenant shall have no claim against the Landlord for the value of any unexpired term or for damages or for any reason whatsoever. If the Landlord does not so elect to cancel this lease by notice as aforesaid, this lease shall
continue in full force and effect without any reduction or abatement of rent, provided that if any part of the premises is expropriated, the rent payable by the Tenant pursuant to Section 3 hereof shall be adjusted accordingly by the Landlord
in the proportion which the area of the remaining premises is of the original premises. If and to the extent that any portion of the building is expropriated, then the full proceeds accruing therefrom or awarded as a result thereof shall belong
solely to the Landlord and the Tenant will execute such documents as in the opinion of the Landlord are or may be necessary to give effect to this intention. 
 ARTICLE 20 
 OPTION TO RENEW 
 20.1. First Option to Renew 
 PROVIDED that the Tenant duly and regularly pays the rent and performs all of
the provisos and agreements contained herein on the part of the Tenant to be performed, the Landlord shall, at the expiration of the term hereof, upon written request of the Tenant, grant to the Tenant a renewal and extension of this lease for a
further period of five (5) years upon the same terms and conditions as contained herein except as to base rent. PROVIDED ALWAYS that the Tenant shall have given to the Landlord no earlier than twelve (12) months’ and no later than
nine (9) months’ written notice before the expiration of the term hereof of its desire to have such extension and renewal. The base rent for such renewal term shall be as agreed upon between the Landlord and the Tenant hereto and in the
event agreement cannot be reached five (5) months prior to the expiry of the term hereof, the determination of the base rent, which shall be based upon the then current fair market rental for similar premises in similar vicinities, shall be
referred to three (3) independent industrial real estate brokers, one to be appointed by the Landlord, one to be appointed by the Tenant, and the third to be chosen by the first two named before they enter into upon the business of determining
the base rent. The determination of the base rent by each real estate broker shall be in writing and the average of the three (3) written opinions shall be binding upon the parties hereto and their respective heirs, executors, administrators,
successors and assigns. The cost of the determination of the base rent shall be borne equally by the Landlord and the Tenant. 
 20.2. Second Option to Renew

 PROVIDED that the Tenant exercises the first option to renew and provided that the Tenant duly and regularly pays the rent and performs
all of the provisos and agreements contained herein on the part of the Tenant to be performed, the Landlord shall, at the expiration of the first option to renew hereof, upon written request of the Tenant, grant to the Tenant a renewal and extension
of this lease for a further period of five (5) years upon the same terms and conditions as contained herein except as to base rent and without any further right of renewal; PROVIDED ALWAYS that the Tenant shall have given to the Landlord no
earlier than twelve (12) months’ and no later than nine (9) months’ written notice before the expiration of the term hereof of its desire to have such extension and renewal. The base rent for such renewal term shall be as agreed
upon between the Landlord and the Tenant hereto and in the event agreement cannot be reached five (5) months prior to the expiry of the term hereof, the determination of the base rent, which shall be based upon the 

  

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then current fair market rental for similar premises in similar vicinities shall be referred to three (3) independent industrial real estate brokers,
one to be appointed by the Landlord, one to be appointed by the Tenant, and the third to be chosen by the first two named before they enter into upon the business of determining the base rent. The determination of the base rent by each real estate
broker shall be in writing and the average of the three (3) written opinions shall be binding upon the parties hereto and their respective heirs, executors, administrators, successors and assigns. The cost of the determination of the base rent
shall be borne equally by the Landlord and the Tenant. 
 ARTICLE 21 
 BUILDING EXPANSION 
 21.1. Expansion for Benefit of Tenant 
 Subject to Article 22.22, the Landlord shall, upon receipt of nine (9) months’ written notice from the Tenant, construct an addition to the
building for the benefit of the Tenant, provided that the Landlord and Tenant shall, within thirty (30) days of the Landlord receiving the aforesaid notice, have agreed to the design of the addition, the rental rate, and the term of the lease
for both the existing building and the addition. The lease rate shall be based on the Landlord preparing, at its own expense, detailed specifications and tendering the same for construction to three (3) construction firms, one chosen by the
Landlord, one chosen by the Tenant, and one chosen by both the Landlord and Tenant. The rental paid for the addition shall be determined in accordance with the following formula: 
 Design costs plus construction costs (including landscaping and site work) plus 10% construction management fee, plus municipal hydro and gas services
and connection costs, plus interim financing and long term refinancing costs. The resulting costs will be capitalized at an annual return based on the ten (10) year Royal Bank of Canada industrial mortgage rate plus 2% amortized over the
remaining years of the existing lease, provided that the existing lease may not be less than ten (10) years. 
 21.2. Expansion for Benefit of Third
Party 
 The Landlord may, at its sole option, construct an addition to the building not exceeding thirty thousand (30,000) square feet.
The additional building shall be for the benefit of third party tenants, as determined by the Landlord. The lease for the additional building shall provide that the tenants for the additional building shall pay their proportionate share (based on
square footage) with all taxes, insurance, and common expenses. The Landlord covenants and agrees that the third party leases for the additional building shall expire on or before the 30th day of June, 2006. The third party tenants for the
additional building shall be a monthly tenant subsequent to the 30th day of June, 2006. Thereafter, provided that the Tenant duly and regularly pay the rent and performs all the provisos and agreements contained herein on the part of the Tenant to
be performed, the Landlord shall, upon the Tenant having given to the Landlord one hundred & twenty (120) days’ notice in writing, grant to the Tenant the lease for the additional space for a term equal to the balance of the term
of this lease. The base rental for the additional space shall be $6.75 per square foot for the five (5) years and $6.95 per square foot for the balance of the original term of the lease. The Landlord shall be responsible for all costs incurred
to connect the two buildings by walkways, doorways or removal of the common wall as shall be determined by the Tenant. 
  

 19 

 ARTICLE 22 
 COMPLETION OF PREMISES 
 22.1. Completion of Premises 
 Subject to Article 23.8, the Landlord covenants and agrees to complete the building and install the work and material in accordance with plans and
specifications attached hereto as Schedule “B”, including items 2, 3, 5, 6 and 7 on the revised requirements as shown on Schedule “C” (items 1 and 4 being the responsibility of the Tenant) prior to the 1st day of May, 2001, or
upon written notice by the Landlord to the Tenant on or before the 31st day of March, 2001, on the 1st day of June, 2001. The Landlord agrees to complete the work in a good and workmanlike manner and to have the same completed forthwith. 

Provided that if, due to the failure of the Landlord to complete construction or to make available the services which the Landlord is hereby obligated
to furnish, the premises or any part thereof are not ready for occupancy on the 1st day of May, 2001, or the 1st day of June, 2001, as hereinbefore provided, no part of the rent, or only a proportionate part thereof, if the Tenant shall occupy a
part of the premises, shall be payable for a period before the date when the entire premises are ready for occupancy and the full rent shall accrue only after such last mentioned date. The Tenant hereby agrees to accept such abatement in rent
together with the payment by the Landlord to the Tenant of an amount equal to the gross rent payable by the Tenant of the premises presently occupied at 685 Rupert Street, Waterloo, Ontario, for the period of delay calculated from the 1st day of
June, 2001. In the event the occupancy date is delayed beyond the 1st day of July, 2001, the Tenant may at its option, terminate this lease and the deposit shall be returned to the Tenant, without liability for costs or damages. 
 The decision of the consultant shall be final and binding upon the parties hereto as to whether or not the premises are ready for occupancy by the Tenant
and as to the extent to which any delay in completion of the premises or in the delivery of vacant possession is due to any act or omission of the Tenant or its agents, servants, or contractors. The Tenant shall, promptly on the request of the
Landlord, execute an acknowledgment of the date on which complete and vacant possession of the premises is delivered to the Tenant. 
 PROVIDED FURTHER, however, that when the Landlord has completed construction of the premises and made available the aforesaid services, the Tenant shall not be entitled to any abatement of rent for any delay in occupancy due to the
Tenant’s failure to complete the installation and other work required for its purposes. 
 22.2. Winter Heating Costs 
 The Landlord acknowledges that the construction costs for the building include the heating costs of $49,488.00 for winter heating of the building,
concrete protection and concrete heating. In the event the costs are less than $49,488.00, as evidenced by an invoice submitted by the Landlord’s contractor, which invoice shall be subject to audit by both the Landlord and Tenant, the
difference between the sum of $49,488.00 and the agreed cost shall be credited to the base rent payable by the Tenant as the same shall become due and payable pursuant to the terms of this lease. 
 ARTICLE 23 
 MISCELLANEOUS

 23.1. Entire Agreement 
 The Tenant
acknowledges that there are no covenants, representations, warranties, agreements or conditions, express or implied, collateral or otherwise, forming part of or in any way affecting or relating to this lease save as expressly set out or imported by
reference to this lease. 
  

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 23.2. No Partnership 
 The Landlord does not, in any way or for any purpose become a partner of the Tenant in the conduct of its business or otherwise or joint venturer or a member of a joint enterprise with the Tenant. 
 23.3. Registration of Notice 
 The Tenant shall not register
this lease or any notice thereof except in a form which shall be acceptable to the solicitors for the Landlord and which shall be executed by both the Landlord and the Tenant prior to registration. At the request of the Landlord, and at the sole
expense of the Landlord, the Tenant will register a notice of this lease in form approved by the Landlord at any time during the term hereof. 
 23.4.
Successors 
 This lease, together with the Schedules annexed hereto and forming a part hereof, shall extend to, be binding upon and enure to
the benefit of the parties hereto and their respective heirs, legal personal representatives, successors and assigns (as limited by the provisions of this lease) and shall be interpreted in accordance with the laws of the Province of Ontario, and
the parties hereto attorn to the jurisdiction of the courts of the Province of Ontario. 
 23.5. Planning Act 
 This lease is entered into subject to the express condition that the provisions of the Planning Act (Ontario) as amended and in force from time to time,
with respect to subdivision control, shall be complied with, and it is expressly agreed that if the term of this lease and of any renewals thereinafter provided extends for a period of twenty-one (21) years or more and by reason thereof the
consent of the applicable Municipal Council or Land Division Committee or other appropriate body is required in order to comply with the said provisions and if such consent has not been obtained by the Tenant, at the Tenant’s expense, within
ninety (90) days from the date of commencement of the term of this lease, all such rights and obligations granted or created by the said provisions shall then terminate, and the parties hereto agree to treat this demise as a lease for not more
than twenty-one (21) years less one day upon the same terms and conditions save and except as to the term of the demise. 
 23.6. Rules and Regulations

 The Tenant and its officers, directors, servants, agents and all other persons visiting or doing business with it shall be bound by and
shall observe the rules and regulations attached to this lease as Schedule “D” hereto, and any further and other reasonable rules and regulations hereafter made by the Landlord of which notice shall be given to the Tenant, and all such
rules and regulations shall be deemed to be incorporated into and form part of this lease. 
 PROVIDED, however, that none of the rules and
regulations of the Landlord shall in any way abrogate or derogate from any of the rights of the Tenant pursuant to this lease. 
 23.7. Time 
 Time shall be the essence of this indenture. 
 23.8. Force
Majeure 
 Whenever, and to the extent that either party shall be unable to fulfill, or shall be delayed or restricted in the fulfillment of
any obligation under this lease in respect of the supply or provision of any service or utility or the doing of any work or the making of any repairs by reason of strike, lock-out, 

  

 21 

 
war, act of God or by reason of being unable to obtain material, goods, equipment, services, utility or labour required to enable it to fulfill such
obligation or by reason of any statute, law or order-in-council, or any regulation or order passed or made pursuant thereto or by reason of the order or direction of any administration, controller or board, or any governmental department or office
or by reason of any other cause beyond its control, whether of the foregoing character or not, such party shall, so long as any such impediment exists, be relieved from the fulfilment of such obligation and the other party shall not be entitled to
compensation for any damage, inconvenience, nuisance or discomfort thereby occasioned, but nothing herein shall entitle the Tenant to withhold payment of rent. 
 23.9. Severability 
 If any one or more clauses or paragraphs or part or parts thereof in this lease be illegal or unenforceable it
or they shall be considered separate and severable from the lease and the remaining provisions of the lease shall remain in full force and effect and shall be binding upon the parties hereto as though the said clause or clauses or part or parts of
clauses had never been included. 
 23.10. Number 
 Whenever a word importing the singular number only is used in this lease, such word shall include the plural and words importing either gender and firms and corporations where applicable. Any reference to the term of this lease shall,
unless the context otherwise requires, be deemed to include any renewals thereof. 
 23.11 Captions 
 The word “clause” shall refer to each portion of this lease introduced or headed by an integer and the word “paragraph” shall refer
to the sequentially numbered paragraphs of each clause. The captions appearing in this lease have been inserted as a matter of convenience and for reference only and in no way define, limit or enlarge the scope of meaning of this lease or of any
provisions thereof. 
 IN WITNESS WHEREOF the Landlord, the Tenant and the Guarantor have hereunto affixed their corporate seals as attested
to by the hands of their officers duly authorized in that behalf. 
  

															
	 SIGNED, SEALED AND DELIVERED
	 	 )
	 		 		 		 	
	 in the presence of:
	 	 )
	 		 		 		 	
		 	 )
	 		 		 		 	
		 	 )
	 		 		 		 	
		 	 )
 )
	 		 		 		 	 HURON WOODS DEVELOPMENT
 CORPORATION, IN TRUST

		 	 )
	 		 		 		 	
		 	)	 		 		 		 	Per:	 	 /s/ (illegible)

		 	)	 		 		 		 		 	 General Manager

		 	)	 		 		 		 	 (I have authority to bind the corporation)

		 	 )
	 		 		 		 	
		 	)	 		 		 		 	 ULTRA METAL INC.

		 	 )
	 		 		 		 	
		 	)	 		 		 		 	Per:	 	/s/ (illegible)
		 	)	 		 		 		 		 	 Title
	 	 President

		 	 )
	 		 		 		 	
		 	)	 		 		 		 	Per:	 	  
		 	)	 		 		 		 		 	 Title
	 	
		 	)	 		 		 		 	 (I/We have authority to bind the corporation)

		 	 )
	 		 		 		 	
		 	)	 		 		 		 	 HYCO INTERNATIONAL INC.

		 	 )
	 		 		 		 	
		 	)	 		 		 		 	Per:	 	/s/ Robert Overholser
		 	)	 		 		 		 		 	 Title
	 	 Vice President & Asst. Secretary

		 	 )
	 		 		 		 	
		 	)	 		 		 		 	Per:	 	  
		 	)	 		 		 		 		 	 Title
	 	
		 	)	 		 		 		 	 (I/We have authority to bind the corporation)

  

 22

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