Document:

Exhibit
10.5

 

	 	500 Hogsback Road, Mason, Michigan 48854

Phone (888) DART-001

Fax (517) 244-2698

 

August
26, 2011

 

Michelle
A. Coulter 

XG
Sciences 

815
Terminal Road 

Lansing,
Ml 48906

 

		Re:	Signed Lease and First Amendment for Oakwood Executive Park 

 

Dear
Michelle:

 

Please
find enclosed, for your records, a signed copy of the lease for your space at 3101 Grand Oak Drive in Oakwood Executive Park.

 

If
you have any questions, please feel free to contact me. I look forward to serving your space needs at Oakwood Executive Park.

 

Sincerely,

 

DART
DEVELOPMENT GROUP

 

 /s/
Marsha Zimmerman

Marsha
Zimmerman 

Marketing
Manager

 

www.dartdevelopment.com 

     

     

    

 

	1.   LEASE OF THE PREMISES	1
	2.   LEASE TERM	1
	3.   BASE RENT	1
	4.   COMMON COSTS AS ADDITIONAL RENT	2
	A.   Taxes and Assessments	2
	B.   CAM Charges	2
	C.   Estimated Payments	3
	E.   Late Charges	3
	1.   Landlord May Incur Unanticipated Costs	3
	2.   Tenant Owes Late Charge	3
	3.   Late Charge is Fair Estimate	3
	4.   If Tenant’s Check Returned	4
	5.   Charges Become ‘Additional Rent’	4
	6.   Application of Money From Tenant	4
	7.   Payment by Landlord on Tenant’s Behalf and Associated Charges	4
	8.   Landlord May Pursue Other Remedies	4
	9.   Landlord May Require Advance Quarterly Payment	4
	5.   SECURITY PROVISION	4
	6.   INSURANCE	5
	A.   Property Insurance	5
	B.   Liability Insurance	5
	C.   Form, Amount and Coverage, Etc.	5
	D.   Increase in Insurance Premium	5
	E.   Accidents	6
	F.   Payment By Landlord	6
	G.  Waivers of Claims/Subrogation	6
	7.   USE	6
	A.   Use	6
	B.   Use of Common Areas	6
	C.   Management and Operation of Common Areas	6
	8.   DEFAULT	6
	9.   LANDLORD’S REMEDIES FOR TENANT’S DEFAULT	7
	10.   MISCELLANEOUS DEFAULT PROVISIONS	8
	11.   ASSIGNMENT AND SUBLETTING	9
	12.   HAZARDOUS SUBSTANCES	10
	13.   ALTERATIONS	11
	A.   Changes, Alterations and Additional Construction	11
	B.   Manner of Construction	11
	C.   Title to Alterations	11
	14.   SURRENDER	12
	A.   Delivery of Possession	12
	B.   Holding Over	12
	C.   Removal of Personal Property	13
	D.   Retention of Personal Property	13
	15.   RIGHT TO MORTGAGE	13
	16.   ESTOPPEL CERTIFICATES	13
	17.   MAINTENANCE AND REPAIRS	14
	A.   Utilities	14
	B.   Cleaning and Upkeep	14

 

    	 	i	 

     

    

 

	C.   Grounds Maintenance	14
	D.   Snowplowing	14
	E.   Landlord’s Right of Entry	14
	F.   Repairs by Landlord	14
	G.   Repairs by Tenant	14
	H.   Liens	15
	18.   DAMAGE OR DESTRUCTION	16
	19.   CONDEMNATION	17
	A.   Total Taking	17
	B.   Award on Total Taking	17
	C.   Partial Taking	17
	D.   Reconstruction	17
	E.   Award on Partial Taking	17
	F.   Temporary Taking	17
	G.   Settlement Agreement	18
	H.   Abatement in Basic Rent	18
	20.   LIABILITY; INDEMNIFICATION OF LANDLORD AND TENANT	18
	A.   Damage in General	18
	B.   Indemnification of Landlord	18
	C.   Indemnification of Tenant	19
	21.   MISCELLANEOUS PROVISIONS	19
	A.   Governing Law	19
	B.   References	19
	C.   Binding Effect	19
	D.   Entire Agreement	19
	E.   Enforceability of Provisions	19
	F.   Remedies Not Exclusive	19
	G.  Landlord’s Right To Tenant’s Financial Information	20
	H.   Re-Leasing	20
	I.   Advertising and Signs	20
	J.   Quiet Enjoyment	20
	K.   Sale by Landlord	20
	L.   Limitation of Liability	20
	M.   Authority	20
	N.   No Liability for Curtailment, Etc., of Services	20
	O.   Survival	21
	P.   Notices	21
	Q.   Certificate of Occupancy	21
	EXHIBIT A - Hazardous and Toxic Materials	1
	EXHIBIT B - Rules
    and Regulations	1
	1.   Control of Common Areas	1
	2.   Observance of Rules	1
	3.   No Obstruction	1
	4.   Security of Premises	1
	5.   Locks	1
	6.   No Soliciting	1
	7.   No Advertising	1
	8.   Proper Use of Facilities	1
	9.   Load Limits on Floors	1

 

    	 	ii	 

     

    

 

 

	10.   Machinery and Equipment	1
	11.   Moving of Equipment	2
	12.   Replacement of Broken Glass	2
	13.   No Hazardous Materials	2
	14.   Good Houskeeping	2
	15.   Landlord Not Liable	2
	16.   Modifications to Rules and Regulations	2
	17.   Drives and Parking Areas	2
	18.   Storage and Loading Areas	2
	19.   Contractors and Service Maintenance	2
	20.   Lodging	2
	21.   Exterior Installations	3
	22.   Waivers	3
	23.   Additions to Lease	3
	24.   Access to Roof	3
	25.   Sales From Premises	3

 

    	 	iii	 

     

    

 

LEASE

 

THIS
LEASE is made effective as of August 1, 2011, between DART CONTAINER OF MICHIGAN LLC, a Michigan limited liability company with
offices at 500 Hogsback Road, Mason, Michigan 48854 (“Landlord”); and XG SCIENCES, INC., a Michigan corporation, currently
located at 5020 Northwind Drive, Suite 212, E. Lansing, Michigan 48823 (“Tenant”).

 

1.   LEASE
OF THE PREMISES.
Landlord, in consideration of the rents to be paid and the covenants and agreements to be performed by Tenant hereby leases to
Tenant for the Term set forth below, the following described property (the “Premises”) located in Oakwood Executive
Park (the “Park”):

 

Lot
29, Oakwood Executive Park, according to the Plat thereof recorded at Liber 50, Page 38 of Plats, Ingham County Records, and commonly
known as 3101 Grand Oak Drive, Lansing, Michigan 48911, and also known as Tax Parcel No. 33-25-05-02-405-033.

 

Tenant
hereby hires the Premises for the Lease Term and covenants to pay, or cause to be paid, to Landlord, at the dates and times set
forth herein, the entire Rent, as specified herein.

 

2.   LEASE
TERM.
The term of this Lease shall be for a term of ten (10) years (the “Lease Term”), and shall commence on the first day
of September, 2011, or as adjusted as provided in this Section 2 (“Commencement Date”). Unless terminated earlier in
accordance with the terms of this Lease, this Lease shall terminate on August 31, 2021, or as adjusted as provided in this Section
2 (“Termination Date”).

 

Landlord
requires approximately ninety (90) days for the build-out of the Premises, as described in Exhibits C, D,
E, and F. The Commencement Date shall be the last to occur of (a) September 1, 2011, or (b) the date upon which Landlord notifies
Tenant of the completion of Landlord’s build-out work described in Exhibits C, D, E,
and F. If the Commencement Date shall be a date after September 1, 2011, then the Commencement Date, Termination Date, and rental
periods shown in Section 3 shall be adjusted accordingly.

 

3.BASE
RENT.
During the Lease Term, Tenant shall pay annual Base Rent and all other rent due and owing by Tenant under this Lease (“Additional
Rent”) to Landlord at such place as Landlord shall from time to time designate in writing. Annual Base Rent will be payable
in equal monthly installments, as follows:

 

	Lease Period	 	Monthly Installment	 	 	Annual Base Rent	 
	09/01/11-08/31/12	 	$	15,833.00	 	 	$	189,996.00	 
	09/01/12-08/31/13	 	$	16,150.00	 	 	$	193,800.00	 
	09/01/13-08/31/14	 	$	16,473.00	 	 	$	197,676.00	 
	09/01/14-08/31/15	 	$	16,803.00	 	 	$	201,636.00	 
	09/01/15-08/31/16	 	$	17,139.00	 	 	$	205,668.00	 
	09/01/16-08/31/17	 	$	17,481.00	 	 	$	209,772.00	 
	09/01/17-08/31/18	 	$	17,831.00	 	 	$	213,972.00	 
	09/01/18-08/31/19	 	$	18,188.00	 	 	$	218,256.00	 
	09/01/19-08/31/20	 	$	18,551.00	 	 	$	222,612.00	 
	09/01/20-08/31/21	 	$	18,922.00	 	 	$	227,064.00	 

 

    	 	1	 

     

    

 

		A.	All monthly installments
of Base Rent shall be payable to Landlord in advance on the first day of each month during the Lease Term without notice, demand,
deduction or set off, except as otherwise provided herein. Tenant shall pay the first month’s installment of Base Rent on
the date of Tenant’s execution of this Lease. If Tenant shall not be in default at the time of the exercise of the option
or at the end of the then current Lease Term, then Tenant shall have the right and option to renew this Lease for up to two (2)
additional renewal terms of five (5) years each by providing Landlord with written notice of Tenant’s exercise of such right
not less than six (6) months prior to the expiration of the initial Lease Term or the renewal Lease Term then in force, whichever
is applicable. Annual Base Rent shall be increased at the commencement of each renewal term, and each anniversary of said commencement
date of the renewal term by two percent (2%) per annum.

 

		B.	As used in this
Lease, the term “Rent” shall include all amounts payable pursuant to this Lease and all other additional charges or
sums payable to Landlord hereunder. All Rent due and owing by Tenant under this Lease shall be paid by Tenant to Landlord without
deduction, set off or abatement, except as otherwise provided herein.

 

		C.	Tenant’s
obligation to pay Base Rent, Additional Rent, and all other charges due and owing by Tenant under this Lease shall survive the
expiration or earlier termination of this Lease.

 

		4.	COMMON
                                         COSTS AS ADDITIONAL RENT.

 

		A.	Taxes and Assessments.
                                         Tenant shall be responsible
                                         for and agrees to pay directly to Landlord as Additional Rent all taxes and assessments
                                         which may be billed or assessed by any lawful authority during each calendar year during
                                         the term of this Lease against the Premises or any part thereof (hereinafter referred
                                         to as the “Taxes”). Taxes shall also include all taxes, levies and charges
                                         which may be assessed, billed or imposed in replacement of or in addition to all or any
                                         part of real property taxes as revenue sources, and which in whole or in part are measured
                                         or calculated by or based upon the Premises, the freehold estate of the Landlord in and
                                         to the Premises, the leasehold estate of the Tenant created herein, or the rent and other
                                         charges payable hereunder. In no event shall Tenant be obligated to pay any income taxes,
                                         inheritance, estate, gift, transfer taxes, penalties and interest of Landlord. Notwithstanding
                                         anything stated or implied to the contrary in this paragraph, Tenant shall be responsible
                                         only for installments of special assessments which come due during the Lease Term.

 

Taxes
shall be computed by adding all Taxes billed pertaining to the Premises during the calendar year regardless of any tax bill’s
stated period of coverage. Tenant will be billed its respective share thereof either for the entire year or its prorata share of
any partial year in which Tenant occupies the Premises.

 

		B.	CAM Charges.
During the Lease Term, Tenant shall pay to Landlord, as Additional Rent, Tenant’s share of all common area electrical, grounds
maintenance, security services (if any) and other common area charges and expenses (the “CAM Charges”), as provided
below. The term “grounds maintenance” shall include, without limitation, all landscaping, planting, lawn and grounds
care, all maintenance of and improvements to the grounds and other common areas adjacent to the Premises and to all sidewalks,
driveways, loading areas, parking areas, and all snow removal. For the purposes of this Lease, “common areas” or “Common
Areas” shall mean those areas of the Park outside of the Premises and outside of the leased premises of any other tenant
of the Park which are to be maintained by Landlord.

 

    	 	2	 

     

    

 

		C.	Estimated
Payments. Prior to the Commencement Date and prior to January 1 of each subsequent calendar year during the Lease Term,
or as soon thereafter as possible, Landlord shall deliver to Tenant an estimate of: (1) the Property Taxes for that calendar year
(the “Tax Estimate”); (2) the Insurance costs for that calendar year (the “Insurance Estimate”); and (3)
the total CAM Charges for that calendar year (the “CAM Estimate”) and Tenant’s Share thereof. (The Tax Estimate,
the Insurance Estimate and the CAM Estimate are sometimes referred to hereinafter collectively as the “Common Cost Estimates”.)
Tenant shall thereafter during that calendar year pay to Landlord one-twelfth (1/12) of the amount of Tenant’s Share of the
Common Cost Estimates at the same time its monthly installments of Base Rent hereunder are due and payable. In the event Landlord
shall not have furnished the Common Cost Estimates to Tenant by January 1 of any calendar year, then until the first day of the
month following the month in which the Common Cost Estimates are furnished to Tenant, Tenant shall continue to pay to Landlord
on the first day of each calendar month its share of the Common Cost Estimates based on the previous year’s estimate. At
such time as Landlord furnishes the Common Cost Estimates to Tenant, Landlord shall give Tenant notice stating whether the aggregate
amount of the installments of Tenant’s Share of Tax Increase, Insurance Increase and CAM Charges previously paid for such
calendar year is more or less than the aggregate amount of the installments due for such portion of the calendar year as computed
in accordance with the Common Cost Estimates, and (1) if there shall be a deficiency, then within ten (10) days after the Tenant
receives the Common Cost Estimates, Tenant shall pay the amount of such deficiency, (2) if there shall have been an overpayment,
Landlord shall credit Tenant in the amount thereof toward the subsequent installments of the Common Cost Estimates, and (3) on
the first day of the first month next following the month in which the Common Cost Estimates are furnished to Tenant, and monthly
thereafter for the balance of such calendar year, Tenant shall pay to Landlord one-twelfth (1/12) of the amount of Tenant’s
Share of the Common Cost Estimates. Tenant’s right to contest Common Cost Estimates shall be limited to six months from date
of notification by Landlord.

 

Current
monthly Common Cost Estimates, based on one hundred percent of building occupancy, are Four Thousand Two Hundred Twenty-Nine Dollars
($4,229.00).

 

		D.	Late
                                         Charges.

 

		1.	Landlord May
Incur Unanticipated Costs. Tenant’s failure to pay Rent, Additional Rent, or any other Lease costs when due under this
Lease may cause Landlord to incur unanticipated costs. The exact amount of such costs are impractical or extremely difficult to
ascertain. Such costs may include, but are not limited to, processing and accounting charges and late charges that may be imposed
on Landlord by any ground lease, mortgage, or other lien encumbering the Premises.

 

		2.	Tenant Owes
Late Charge. Therefore, if Landlord does not receive the Rent, Additional Rent, or any other Lease costs in full on or before
the fifth (5th) business day of the month after same is due, Tenant shall pay Landlord a late charge, which shall constitute liquidated
damages, equal to Two Hundred and 00/100 Dollars ($200.00) (“Late Charge”), which shall be paid to Landlord together
with such Rent, Additional Rent, or other Lease costs then in arrears.

 

		3.	Late Charge
is Fair Estimate. The parties agree that such Late Charge represents a fair and reasonable estimate of the cost Landlord will
incur by reason of such late payment.

 

    	 	3	 

     

    

 

		4.	If Tenant’s
Check Returned. For each Tenant payment check to Landlord that is returned by a bank for any reason, Tenant shall pay both
a Late Charge (if applicable) and a Returned Check Charge or such amount as shall be customarily charged by Landlord’s bank
at the time.

 

		5.	Charges Become
“Additional Rent”. All Late Charges and any Returned Check Charge shall then become Additional Rent and shall be
due and payable immediately, along with such other Rent, Additional Rent, or other Lease costs then in arrears.

 

		6.	Application
of Money From Tenant. Money paid by Tenant to Landlord shall be applied to Tenant’s account in the following order: (a)
to any unpaid Additional Rent, including, without limitation, Late Charges, Returned Check Charges, legal fees and/or court costs
legally chargeable to Tenant, and Operating/CAM Charges; and then (b) to unpaid Base Rent.

 

		7.	Payment by
Landlord on Tenant’s Behalf and Associated Charges. If Tenant fails to make any payment or expenditure required to be
paid by it under the terms of the Lease and such failure continues for a period of ten (10) days after written notice of such failure
is sent by Landlord to Tenant (if such notice is required in this Lease), then Landlord may, at its option, make such payment or
expenditure on behalf of Tenant. In that event, the amount of any such payment or expenditure by Landlord together with interest
at the rate of ten percent (10%) per annum from the date of Landlord’s payment forward, shall be immediately due and payable
to Landlord as Additional Rent.

 

		8.	Landlord May
Pursue Other Remedies. Nothing herein contained shall be construed so as to compel Landlord to accept any payment of Rent,
Additional Rent, or other Lease costs in arrears or Late Charge or Returned Check Charge should Landlord elect to apply its rights
and remedies available under this Lease or at law or equity in the event of default hereunder by Tenant. Landlord’s acceptance
of Rent, Additional Rent, or other Lease costs in arrears or Late Charge or Returned Check Charge pursuant to this Clause shall
not constitute a waiver of Landlord’s rights and remedies available under this Lease or at law or equity as a result of Tenant’s
default.

 

		9.	Landlord
May Require Advance Quarterly Payment. If Rent due hereunder shall be late for three (3) consecutive months, then Landlord
shall have the option to require that the Base Rent due shall be paid quarterly, in advance.

 

5.    SECURITY
PROVISION. By no later than Jun 15, 2011, Tenant
shall provide Landlord with a clean, unconditional, irrevocable, transferable letter of credit in the amount of One Hundred Eighty-Nine
Thousand Nine Hundred Ninety-Six Dollars ($189,996.00) (the “Letter of Credit”), in form and issued
by a financial institution (“Issuer”) satisfactory to Landlord in its sole discretion. The Letter of Credit must permit
partial draws and provide that draws will be honored on receipt by Issuer of the original or a certified copy of the Letter of
Credit accompanied by a written statement signed by Landlord or its authorized agent stating that Landlord is entitled to draw
on the Letter of Credit pursuant to the terms of the Lease. The Letter of Credit must have an expiration date no earlier than
August 31, 2021. If Tenant fails, by June 1, 2011, Tenant has failed to provide Landlord with the Letter of Credit
as specified above, then this Lease shall be deemed immediately terminated and Tenant, within ten (10) business
days of its receipt of an itemized list of Landlord’s amounts incurred as of June 1, 2011, for the improvements described
in Exhibits C, D, E, and F, shall reimburse Landlord in full for those amounts incurred.

 

    	 	4	 

     

    

 

Landlord
may draw the Letter of Credit in part or in full in the event of any uncured Event of Default by Tenant to the extent needed to
pay for any Tenant obligations under this Lease. If Landlord so uses or applies all or any portion of the Letter of Credit, then
Tenant shall restore the Letter of Credit to the full amount within twenty (20) business days after written demand therefor, and
failure to do so shall be a material and immediate Event of Default of this Lease.

 

The
Letter of Credit, if not applied toward putting the Premises in the condition required under Sec. 14(A), the payment of rent in
arrears, or the payment of damages suffered by Landlord by reason of Tenant’s default under the Lease is to be returned to
Tenant at the expiration of the Term of the Lease, provided Tenant has not committed an Event of Default of any provision of the
Lease. In no event is the Letter of Credit to be returned until Tenant has vacated the Premises and delivered possession of same
in in the condition required by this Lease.

 

In
the event of the sale or other transfer of the Premises, Landlord shall have the right to transfer the Letter of Credit to such
purchaser or Transferee, and Landlord shall thereupon be released by Tenant from all liability for return of the Letter of Credit.

 

In
the event that Landlord repossesses the Premises because of Tenant’s Event of Default, Landlord may apply the Letter of Credit
to all damages suffered to the date of repossession and may retain the Letter of Credit to apply to such damages as may be suffered
or shall accrue thereafter by reason of Tenant’s Event of Default.

 

		6.	INSURANCE.

 

		A.	Property
Insurance. During the term of the Lease, Landlord, on behalf of Tenant, shall keep the Premises insured with Broad Form
fire and extended coverage insurance in an amount not less than the full replacement cost of the Premises as determined annually.
Landlord will bill Tenant monthly, as Additional Rent, one-twelfth (1/12) of the annual insurance premium for the Premises. Tenant
shall be named as an Additional Insured on said Policy, as Tenant’s interests appear, and Landlord shall provide Tenant with
Evidence of Insurance form (Acord 27 revised 3/93) showing such insurance in force at all times during the term of this Lease and
any renewals.

 

		B.	Liability
Insurance. Tenant, at Tenant’s sole cost and expense, shall maintain comprehensive public liability insurance against
any claims for bodily injury, death, or property damage, occurring on, in or about the Premises, and against contractual liability
for such claims, such insurance to afford minimum protection in the amount of One Million Dollars ($1,000,000.00) or in such higher
amount as Landlord may deem reasonably necessary. Landlord and any mortgagee of the Premises designated in writing by Landlord
shall be named as co-insured or additional insured parties under all such policies. Tenant may provide public liability insurance
under a blanket policy or policies which cover other properties in addition to the Premises. Tenant shall provide Landlord with
an Evidence of Insurance form (ACORD25) or, in the alternative and at Landlord’s sole discretion, Landlord may require Tenant
to provide a true copy of the actual liability insurance policy.

 

		C.	Form. Amount
and Coverage, Etc. The form, amount, and coverage of each policy of insurance which Tenant is required to maintain shall
be subject to Landlord’s approval, which shall not be unreasonably withheld. Tenant shall not permit any condition to exist
on the Premises and shall not commit any act or omission which would wholly or partially invalidate any insurance.

 

		D.	Increase
in Insurance Premiums. If anything done by Tenant, omitted to be done by Tenant, or allowed by Tenant to be kept on the
Premises shall cause the rate of fire or other insurance on the Premises, or on other property of Landlord or of other Tenants
in the Park, to be increased beyond the minimum rate from time to time applicable to the Premises or such other property, Tenant
shall pay, as Additional Rent, the amount of any such increase upon Landlord’s demand.

 

    	 	5	 

     

    

 

		E.	Accidents.
Upon the occurrence of any material accident, injury, or personal property casualty in or about the Premises, Tenant shall
give prompt notice thereof to Landlord, and, upon Landlord’s request, Tenant shall provide Landlord with evidence that any
liability of Landlord relating thereto is covered by the insurance which Tenant is required by this Lease to carry.

 

		F.	Payment
                                         By Landlord.
                                         Tenant shall deliver
                                         copies of all required policies to Landlord. If Tenant fails to maintain the insurance
                                         coverage required under this section and such failure continues for a period of ten (10)
                                         days after written notice thereof from Landlord to Tenant, Landlord may, at its option,
                                         pay the cost of maintaining the required insurance, which shall be Additional Rent due
                                         and payable immediately upon demand.

 

		G.	Waivers
of Claims/Subrogation. Landlord and Tenant hereby waive all rights of action against the other for any loss, cost, damage,
or expense resulting from fire, explosion, or any other casualty or occurrence incurred by either, which loss, cost, damage, or
expense is then covered in whole or in part by insurance maintained or required to be maintained pursuant to this Lease, and each
party waives any right of subrogation that might otherwise exist in or accrue to any person or account thereof.

 

		7.	USE.

 

		A.	Use.
The Premises shall be used only for manufacture, processing, sales, and distribution of graphite nanoplatelets and related
multifunctional materials purposes, including related laboratory, product research, storage, and office uses. Tenant shall not
permit any liens to attach or exist as against the Premises or the Park, nor commit any waste. The Premises shall not be used for
any illegal purposes, nor in any manner shall Tenant allow, suffer, or permit any vibration, noise, odor, light or other effect
that could constitute a nuisance or trespass for Landlord or any other tenant, their customers, agents, or invitees. Upon notice
by Landlord to Tenant that any of the aforesaid effects are occurring, Tenant agrees to immediately remove or control the same.

 

		B.	Use of
Common Areas. Landlord grants to Tenant and its agents, employees and customers a non-exclusive license to use the Common
Areas in common with others during the Lease Term, subject to the exclusive control and management thereof at all times by Landlord.

 

		C.	Management
and Operation of Common Areas. Landlord will operate and maintain or will cause to be operated and maintained the Common
Areas in good condition and repair and in a manner deemed by Landlord to be reasonable and appropriate and in the best interests
of the Park. Landlord will have the right: (1) to establish, modify, and enforce reasonable rules and regulations with respect
to the Common Areas, provided same do not unreasonably restrict or interfere with Tenant’s use of the Premises for the permitted
uses; (2) to enter into, modify, and terminate easements and other Common Areas; (3) to close temporarily any or all portions of
the Common Areas; and (4) to do any or perform such other acts in and to said areas and improvements as, in the exercise of good
business judgment, Landlord shall determine to be advisable. A copy of the current Rules and Regulations is attached as Exhibit
B and made a part of this Lease.

 

		8.	DEFAULT.
                                         The following shall constitute Events of Default under this Lease.

 

    	 	6	 

     

    

 

		A.	Landlord fails
to receive any payment of Rent or Additional Rent or any other charges payable hereunder within ten (10) days after the written
notice from Landlord to Tenant that such payment is past due.

 

		B.	Failure of Tenant
to perform any of the other terms, conditions or covenants of this Lease to be observed or performed by Tenant for a period of
more than thirty (30) days after written notice of such failure from Landlord to Tenant.

 

However,
if a non-monetary failure cannot reasonably be cured within thirty (30) days, no default shall take place if Tenant begins to cure
said failure within those thirty (30) days and Tenant diligently prosecutes said cure to completion.

 

		C.	Tenant filing
of a voluntary petition in bankruptcy or an involuntary petition in bankruptcy being filed against Tenant, and such petition is
not dismissed within thirty (30) days of such filing.

 

		D.	If Tenant makes
an assignment for the benefit of creditors or enters into a similar arrangement with creditors.

 

		E.	Tenant’s
abandonment or vacating of the Premises at any time during the term of this Lease.

 

For
the purposes of the Events of Default specified in this Section, the word “Tenant” shall include, without limitation:
(1) any party comprising Tenant, should more than one person or entity execute this Lease as Tenant; and (2) any person or entity
now or hereafter liable, whether primarily, secondarily or contingently, for the performance of the duties and obligations of Tenant
under this Lease, including without limitation any principal, maker, endorser, guarantor, or surety.

 

9.    LANDLORD’S
REMEDIES FOR TENANT’S DEFAULT.
If any Event of Default shall have occurred and shall be continuing beyond those periods of time herein granted to cure the same,
then Landlord shall have all of the following rights and remedies:

 

		A.	Landlord may,
by notice to Tenant, accelerate all Base Rent due hereunder and otherwise payable in installments over the remainder of the Lease
Term, and, at Landlord’s option, Additional Rent, including, but not limited to, unearned brokerage commissions paid by Landlord
in connection with this Lease, to the extent that Additional Rent can be determined and calculated to a fixed sum; and the amount
of accelerated Rent shall be due and payable to Landlord upon Landlord’s demand reduced by the reasonable rental value of
the Premises and adjusted to reflect the time value of money at the Wall Street Journal published “Prime Rate” as of
the date of Tenant’s default. Additional Rent which has not been included, in whole or in part, in accelerated Rent shall
be due and payable by Tenant during the remainder of the Lease Term, in the amounts and at the times otherwise provided for in
this Lease.

 

		B.	Landlord may,
at Landlord’s option, with judicial process, enter upon the Premises and remove Tenant and any and all other persons therefrom
and take and retain possession thereof and of any and all goods, inventory, equipment, fixtures, and all other personal property
of Tenant situated in the Premises without liability for trespass or conversion, and may sell all or any part thereof at public
or private sale. Tenant agrees that five (5) days’ prior notice of any public or private sale shall constitute reasonable
notice. The proceeds of any such sale shall be applied, first, to the payment of all costs and expenses of conducting the sale
or caring for or storing said property, including all attorneys’ fees; second, toward the payment of any indebtedness, including
(without limitation) indebtedness for Rent, which may be or may become due from Tenant to Landlord; third, to compensate Landlord
for unearned brokerage commissions paid by Landlord in connection with this Lease; and, fourth, to pay the Tenant, on demand in
writing, any surplus remaining after all indebtedness of Tenant to Landlord has been fully paid.

 

    	 	7	 

     

    

 

		C.	Landlord from
time to time may re-let the Premises, or any part thereof, for such term or terms and on such conditions as Landlord, in its reasonable
discretion, may determine, and Tenant shall be liable to Landlord for (i) the difference between the amount of Rent and Additional
Rent payable hereunder and the net proceeds of such re-letting and (ii) unearned brokerage commissions paid by Landlord in connection
with this Lease. In computing the amount of such difference there shall be added thereto such reasonable expenses as Landlord may
have incurred in connection with such re-letting, including without limitation, attorneys’ fees, brokerage commissions, and
expenses for keeping the Premises in good order and for preparing them for reletting, including expenses of remodeling and free
rent or other rent incentives provided to the new tenant.

 

		D.	Landlord may
give Tenant notice of Landlord’s intention to terminate this Lease on a date specified in such notice, on which date this
Lease shall terminate. If Landlord shall so elect to terminate this Lease, then Landlord shall be entitled to recover from Tenant,
in addition to all accrued Rent and other sums due from Tenant as of such termination date, damages in an amount equal to: (1)
the amount of Rent reserved for the balance of the Lease Term, less the fair rental value of the Premises for the balance of the
Lease Term, as adjusted to reflect the time value of money at the Wall Street Journal published “Prime Rate” as of
the date of such termination, (2) unearned brokerage commissions paid by Landlord in connection with this Lease, and (3) all costs
and expenses reasonably incurred by Landlord in securing possession from Tenant, in restoring the Premises to the condition in
which Tenant is herein obligated to surrender same to Landlord, in preparing to re-let the Premises, in maintaining and safeguarding
the Premises in attempting to re-let the Premises, and in recovering said damages from Tenant, which costs and expenses shall include,
without limitation, reasonable attorneys’ fees and expenses, costs of security services, costs of storing or disposing of
property left upon the Premises and cleaning and restoration costs. No act or proceeding done or undertaken by Landlord with respect
to an Event of Default shall constitute a termination of this Lease by Landlord unless and until Landlord shall give to Tenant
the termination notice specified in the first sentence of this Subsection D.

 

		E.	If Tenant is
in monetary default twice in any six (6) month period, Landlord shall have the right to demand automatic wire transfer of Rent
from Tenant’s account.

 

Landlord’s
pursuit of any one or more of the remedies provided in this Lease shall not constitute an election of remedies excluding the election
of another remedy or other remedies, or a forfeiture or waiver of any rent or other amounts payable under this Lease by Tenant
or of any damages or other sums accruing to Landlord by reason of Tenant’s violation of any provision of this Lease. No action
taken by or on behalf of Landlord shall be construed to mean acceptance of a surrender of this Lease, unless otherwise agreed in
writing by Landlord. No failure of either party to pursue or exercise any of said party’s powers, rights or remedies or to
insist upon strict and exact compliance by the other party with any provision of this Lease, and no custom or practice at variance
with the terms of this Lease, shall constitute a waiver by any party of the right to demand strict and exact compliance with the
terms and conditions of this Lease.

 

10.   MISCELLANEOUS
DEFAULT PROVISIONS. The right to enforce all of the provisions
of this Lease may, at the option of any assignee of Landlord’s rights in this Lease, be exercised by any such assignee.

 

    	 	8	 

     

    

 

		A.	Any notation
or statement by a party on any draft, check, or other method of payment of any obligation hereunder, or in any writing accompanying
or accomplishing such payment, which notation or statement purports to impose conditions on such payment or to invoke the doctrine
of accord and satisfaction, shall be absolutely void and of no effect, and may be ignored by the other party.

 

		B.	No right or remedy
herein conferred upon or reserved to a party is intended to be exclusive of any other right or remedy, and every right and remedy
shall be cumulative and in addition to any other right or remedy given hereunder or now or hereafter existing at law or in equity.
Either party shall be entitled to injunctive relief in case of the violation, or attempted or threatened violation, of any covenant,
agreement, condition or provision of this Lease and to a decree compelling performance of any covenant, agreement, condition or
provision of this Lease, or to any other remedy allowed by law or in equity.

 

		C.	No failure by
a party hereto to insist upon the strict performance of any covenant, agreement, term or condition of this Lease on the part of
the other party to be performed, or to exercise any permitted right or remedy consequent upon a default therein, and no acceptance
of the other party’s performance or, in the case of Landlord, of Tenant’s payment of full or partial Rent after such
default, shall constitute a waiver by the party not in default of such default or of such covenant, agreement, term or condition,
or any right or remedy of the party not in default with respect thereto.

 

		D.	If Landlord fails
to perform any covenant on Landlord’s part to be performed under this Lease within thirty (30) days after written notice
is sent from Tenant to Landlord stating the precise nature of the failure, then Tenant may declare Landlord in default, provided
that if nature of the failure is such that it cannot be reasonably cured within the thirty (30) day period, then Landlord shall
not be deemed in default if Landlord, within the thirty (30) day period, commences the cure and thereafter diligently pursues the
same to completion. If Landlord does not cure any such failure within the notice and cure period, then Tenant may elect to terminate
this Lease upon written notice to Landlord, sue for specific performance, sue for injunctive relief, or sue for damages, at Tenant’s
option.

 

If
legal action is required to enforce the performance of either party’s obligations under this Lease, then the prevailing party
in that legal action shall be entitled to recover its reasonable attorneys’ fees and court costs incurred in that action
from the other party.

 

11.   ASSIGNMENT
AND SUBLETTING.
Tenant shall not, directly or indirectly, without the prior written consent of Landlord, sell, assign, hypothecate or otherwise
transfer this Lease or any interest hereunder, or sublet the Premises or any part thereof, or permit the use of the Premises by
any party other than Tenant. Consent to any assignment or sublease shall not be deemed a waiver of the right of Landlord to disapprove
any further assignment or subletting. Landlord’s consent hereunder shall not be unreasonably withheld, conditioned, or delayed.
Notwithstanding any permitted assignment or subletting, Tenant shall remain liable for the full and complete performance, satisfaction
and compliance with each and every agreement, term, covenant, condition, requirement, provision and restriction of this Lease,
as principal and not as surety or guarantor, and as if no such assignment or subletting had been made.

 

Landlord
is expressly given the right to assign any or all of its interest in the Premises or this Lease. Landlord shall give written notification
to Tenant promptly after any such assignment.

 

    	 	9	 

     

    

 

12.   HAZARDOUS
SUBSTANCES.
The term “Hazardous Substances” as used in this Lease, shall mean pollutants, contaminants, toxic or hazardous wastes,
or any other substances, the removal of which is required or the use of which is restricted, prohibited or penalized by any “Environmental
Law”, which term shall mean any existing or future federal, state, or local law or ordinance relating to pollution or protection
of the environment. Tenant hereby represents and warrants and covenants with Landlord that:

 

		A.	Tenant will obtain
prior to occupancy of the Premises and shall maintain in good standing all local, state and federal government licenses necessary
in order to conduct its operations at the Premises;

 

		B.	No activity shall
be conducted on the Premises that will produce any Hazardous Substance, except for such activities that: (1) are part of the ordinary
course of Tenant’s business activities; and (2) are conducted in accordance with all Environmental Laws (the “Permitted
Activities”);

 

		C.	The Premises
shall not be used in any manner for the storage of any Hazardous Substances except for the temporary storage of such materials
that: (1) are used in the ordinary course of Tenant’s business; (2) are properly stored in a manner and location meeting
the requirements of all Environmental Laws; or (3) which are listed on Exhibit A attached to and made a part of this Lease (the
“Permitted Materials”). Landlord agrees that all items listed on Exhibit A shall be deemed Permitted Materials, provided
they are handled in accordance with the requirements of the preceding sentence.

 

		D.	No portion of
the Premises shall be used as a landfill or a dump;

 

		E.	Tenant shall
not install any underground tanks of any type;

 

		F.	Tenant shall
not allow any surface or subsurface conditions to exist or come into existence that constitute, or with the passage of time may
constitute, a public or private nuisance;

 

		G.	Tenant shall
not permit any Hazardous Substances to be brought onto the Premises, except for the Permitted Materials, and if so brought or found
thereon, the same shall be immediately removed, with proper disposal, and all required cleanup procedures shall be diligently undertaken
pursuant to all Environmental Laws at Tenant’s sole expense.

 

The
Tenant shall defend, indemnify, and hold harmless the Landlord, its employees, agents, officers, directors, and shareholders from
and against any and all claims of every kind of nature, known or unknown, contingent or otherwise, demands, criminal and civil
penalties, fines, liabilities, settlements, judgments, damages, costs or expenses, including without limitation, actual reasonable
attorneys’ fees, consultants’ fees, investigation and laboratory fees, court costs and all litigation expenses, arising
out of or in any way related to: (1) the presence, disposal, release or threatened release of any Hazardous Materials caused by
Tenant, on, over, under, from or affecting the Premises or the soil, water, vegetation, buildings, personal property, persons,
or animals; (2) any personal injury (including wrongful death) or property damage (real or personal) arising out of or in any way
related to the release of such Hazardous Materials on the Premises by Tenant; (3) any lawsuit brought or threatened, settlement
reached, or government order relating to the release of such Hazardous Materials by Tenant with respect to the Premises; and/or
(4) any violation of Governmental Regulations which are based upon or in any way related to the release of such Hazardous Materials
by Tenant.

 

    	 	10	 

     

    

 

Landlord
shall have the right, at any time upon attempted notice to Tenant, to inspect the Premises for violations of this section. Landlord,
at its expense, shall provide Tenant with a current Phase I environmental study of the Premises certified to both Landlord and
Tenant and containing no recognized environmental conditions prior to the Commencement Date. Tenant, at its expense, shall provide
Landlord with a current Phase I environmental study of the Premises certified to both Landlord and Tenant and containing no recognized
environmental conditions on the Leased Premises upon its vacation of the Premises.

 

		13.	ALTERATIONS.

 

		A.	Changes,
Alterations and Additional Construction. Except as otherwise provided herein, Tenant, at its expense, shall be responsible
for any improvements to the Premises, including but not limited to those required for compliance with fire and building codes,
the Americans with Disabilities Act (and any regulations implementing said Act), and any other applicable federal, state, or local
law or regulation, provided such improvements are required on account of Tenant’s activities on the Premises. Tenant shall
not construct any change, alteration, or addition in or to the Premises or the Park (any and all of the foregoing being sometimes
herein collectively called an “Alteration”) unless and until, in each instance, Tenant shall have submitted to Landlord
plans, specifications and other materials for such Alteration as Landlord may request and Landlord shall have approved the same
in writing. Landlord’s approval of any Alteration shall not be unreasonably withheld, conditioned, or delayed.

 

		B.	Manner
of Construction. All Alterations which Landlord shall have approved shall be constructed by Tenant, without expense to
Landlord, in a good, and workmanlike manner, and in compliance with the Landlord-approved plans and specifications therefore and
all applicable permits, laws, ordinances and regulations and order, rules and regulations of the Board of Fire Insurance Underwriters
or any other body exercising similar functions, and in compliance with the terms and conditions of this Lease.

 

		C.	Title to
Alterations. Except to the extent otherwise expressly provided herein, upon the completion of construction of each Alteration
(but excluding Tenant’s trade fixtures, equipment, machinery, and signage), such Alteration shall automatically be deemed
part of the Premises for purposes of this Lease. Notwithstanding the foregoing, upon any termination of this Lease or Tenant’s
right of possession of the Premises, at Landlord’s option, (1) prior to such expiration or termination, all such Alterations,
or any parts or parts thereof designated by Landlord, shall be removed from the Premises and the Premises restored substantially
to their condition immediately prior to the construction thereof, all at Tenant’s expense, or (2) upon such expiration or
termination, title to such Alterations, or any part of parts thereof designated by Landlord, in the condition in which Tenant is
obligated to maintain the Alterations pursuant to the provisions of this Lease, shall automatically pass to, vest in, and belong
to Landlord without further action on the part of either party and without cost or charge to Landlord.

 

		D.	Landlord’s
Initial Improvements. Prior to the Commencement Date, Landlord shall make the following improvements to the Premises in
a good and workmanlike manner, in accordance with all applicable laws, codes, and ordinances, and in accordance with the plans
and specifications approved in writing by Tenant: (1) make changes to the office space as shown on Exhibit C attached hereto, (2)
build out the laboratory space as shown on Exhibit D attached hereto, (3) modify the employee washrooms as shown on Exhibit E attached
hereto, and (4) modify the factory as shown on Exhibit F attached hereto. Prior to commencing these improvements, Landlord shall
obtain a fixed price bid for the improvements from Wieland Davco or another contractor or contractors acceptable to the parties.
Tenant must first agree in writing that the bid is acceptable before Landlord proceeds with the improvements, provided that Tenant
shall be deemed to have approved the bid if Tenant does not provide substantive comments on it within five (5) days after Tenant’s
receipt of the bid. If no bid is reasonably acceptable to Tenant, then Tenant may terminate this Lease upon written notice to Landlord.
If the bid is acceptable to Tenant, then Tenant shall confirm that fact in writing delivered to Landlord and Landlord thereafter
shall complete the improvements as promptly as practical. The cost of the improvements as reflected in the approved bid, together
with any additions to the bid approved in writing by Tenant and Landlord, shall be paid by Landlord. This payment by Landlord shall
be amortized as Additional Rent to be paid by Tenant together with Base Rent in equal monthly installments over the Lease Term,
together with interest on the unpaid balance thereof at seven percent (7.0%) per annum.

 

    	 	11	 

     

    

 

		E.	Subsequent Improvements.
Landlord acknowledges that Tenant is leasing the Premises with an option to require Landlord to expand the Premises at some time
during the first twenty-four (24) months of the Lease Term to include (1) an addition to the Building for chemical storage of approximately
15,000 square feet, with a blast wall to separate the chemical storage area from the rest of the Building and (2) to construct
a loading dock. Tenant will provide Landlord with the plans and specifications for such expansion. As promptly as practical thereafter,
Landlord will obtain fixed price bids for the expansion from Wieland Davco and other contractors acceptable to Landlord and Tenant.
If Tenant approves in writing a bid for this expansion, then Landlord shall complete or cause the selected contractor to complete
the expansion in good and workmanlike manner, in accordance with all laws, codes, and ordinances, and in accordance with the plans
and specifications provided by Tenant as promptly as practical. The cost of the expansion as reflected in the approved bid and
any additions to the bid approved in writing by Tenant and Landlord shall be paid by Landlord. Landlord’s payment shall be
amortized as Additional Rent to be paid by Tenant as Additional Rent together with Base Rent in equal monthly installments over
the remaining Lease Term, together with the interest on the unpaid balance thereof at seven percent (7.0%) per annum, commencing
upon issuance of a certificate of occupancy for the expansion space. If Landlord is unwilling or fails to complete the expansion
as herein provided, then Tenant’s sole remedy therefor shall be to terminate this Lease upon ninety (90) days prior written
notice to Landlord, with such notice to be effective to be provided Landlord by no later than the thirty-sixth (36th)
month of the Lease Term.

 

		14.	SURRENDER.

 

		A.	Delivery of Possession.
Tenant shall, on the Expiration Date of the Lease Term, or upon any earlier termination of this Lease, or upon any termination
of Tenant’s right to possess the Premises pursuant to the provisions of this Lease, surrender and deliver up the Premises
into the possession and use of Landlord without fraud or delay and in the condition at the time of occupancy, normal wear and tear
excepted, broom clean and free of all debris and hazardous or toxic materials not present on the Commencement Date, and free and
clear of all lettings, occupancies, liens and encumbrances, created by or through Tenant.

 

		B.	Holding Over.
If Tenant holds over in the Premises after the expiration of the Lease Term or any earlier termination of this Lease or of Tenant’s
right to possess the Premises in violation of the Lease, then at Landlord’s option, and without limitation to any right or
remedy of Landlord with respect to such holding over, such holding over shall create a tenancy from month-to-month only, subject
to Tenant’s obligation to pay Rent equal to one hundred twenty-five percent (125%) of the monthly Base Rent in effect immediately
prior to such expiration or termination (as well as any Additional Rent), and subject to all the provisions and conditions of this
Lease, other than provisions relating to length of Lease Term, which tenancy may be terminated at any time by Landlord giving notice
thereof to Tenant. Landlord’s acceptance of any such rental during the period of Tenant’s holding over shall not waive
or otherwise affect any claim or right which Landlord may have with respect to such holding over.

 

    	 	12	 

     

    

 

		C.	Removal
of Personal Property. Any and all personal property, machinery, and equipment furnished or installed by or at the expense
of Tenant which does not constitute part of the Premises shall be removed by Tenant and all damage to the Premises caused by such
removal repaired by Tenant prior to the expiration or earlier termination of the Lease Term or the termination of Tenant’s
right to possess the Premises.

 

		D.	Retention
of Personal Property. Any personal property, machinery, or equipment of Tenant which shall remain on the Premises after
the expiration of the Lease Term or earlier termination of this Lease or Tenant’s right to possess the Premises may, at the
option of Landlord, be deemed to have been abandoned by Tenant and may be retained by Landlord as Landlord’s property or
be disposed of, without liability to Landlord, in such manner as Landlord may see fit, or Landlord, at its option, may require
Tenant to remove the same at Tenant’s expense. In case of such removal, all costs of removal and of repairing any damage
to the Premises arising from such removal shall be paid by Tenant upon Landlord’s demand. Tenant shall pay to Landlord on
demand (1) a reasonable fee for storing and disposing of any such personal property, and (2) all costs and expenses incurred by
Landlord in storing and disposing of any such personal property (including, without limitation, counsel fees relating to claims
against Landlord by any and all parties claiming interests in such personal property).

 

15.   RIGHT
TO MORTGAGE. Landlord reserves the right to subject and
subordinate the Lease to the lien of any mortgage or security interest now or hereafter placed upon Landlord’s interest in
all or any part of the Premises and upon the land, buildings, and fixtures of which the Premises are a part or upon any buildings
hereafter placed upon the land of which the Premises form a part. Tenant covenants and agrees to execute and deliver upon demand
such further instruments subordinating this Lease to the lien of any present or future mortgage or security interest or other lien
as shall be desired by Landlord. In exchange for any such subordination, and as a condition thereof, Landlord will be required
to provide a customary non-disturbance agreement from any existing lienholder providing that Tenant’s rights, interests,
and possession under this Lease will not be disturbed so long as Tenant is not in default of this Lease.

 

16.   ESTOPPEL
CERTIFICATES. Tenant agrees, at any time and from time
to time upon not less than fifteen (15) days’ prior written notice by Landlord, to execute, acknowledge and deliver
to Landlord a statement in writing certifying to the best of Tenant’s actual knowledge after reasonable investigation: (1)
that this Lease is unmodified and in full force and effect (or if there have been modifications, that the same is in full force
and effect as modified and stating the modifications); (2) whether there are then existing any offsets or defenses against the
enforcement of any of the terms, covenants or conditions hereof upon the part of Landlord or Tenant to be performed (and if so,
specifying the same); and (3) the dates to which the Rent and other charges have been paid in advance, if any, it being intended
that any such statement delivered pursuant to this Section may be relied upon by any prospective purchaser of the Premises. Should
either party comply with a request by the other to provide an Estoppel Certificate on the requesting party’s behalf, such
compliance shall not estop the complying party from thereafter asserting its rights and remedies regarding any default existing
on or before the date on which it executes such Estoppel Certificate of which it did not have actual knowledge on the date of
execution thereof.

 

    	 	13	 

     

    

 

		17.	MAINTENANCE
                                         AND REPAIRS.

 

		A.	Utilities.
                                         Tenant shall promptly
                                         pay all charges for utilities and other services furnished to the Premises by Landlord
                                         or the applicable utility company, including, but not limited to, gas, water, electricity,
                                         fuel, light, heat, and dumpster service. In the event any utilities furnished to the
                                         Premises are not separately metered, Tenant shall pay to Landlord, as Additional Rent,
                                         Tenant’s pro-rata share of the utilities.

 

		B.	Cleaning
and Upkeep. Tenant shall keep the Premises, including any adjoining parking areas, walkways, drives, streets, alleys or
yards clean and free of rubbish. If Tenant fails to do so, Landlord’s cost to have it done will be added to Tenant’s
CAM Charges.

 

		C.	Grounds
Maintenance. Tenant shall be responsible for all costs and expenses related to maintaining the lawn, shrubs, and any other
landscaping on the Premises up to the standard which Landlord has historically maintained. Cost will be included in Tenant’s
CAM Charges.

 

		D.	Snowplowing.
Tenant shall be responsible for all costs and expenses for keeping the Premises free from ice and snow at all times. Cost will
be included in Tenant’s CAM Charges.

 

		E.	Landlord’s
Right of Entry. Landlord shall have the right to enter upon the Premises at all reasonable hours, with reasonable prior
notice, for the purpose of inspection and repairs, except in case of emergency in which case no notice shall be required.

 

		F.	Repairs
bv Landlord. Except as otherwise provided herein, Tenant accepts the Premises in their condition at Lease commencement
and as suited for the uses intended by Tenant. Landlord shall deliver the Premises to Tenant on the Commencement Date with all
building systems, equipment, and fixtures in good working order and condition. Except as otherwise expressly provided in this Lease,
Landlord shall not be required to make any repairs or improvements to the Premises, except repairs to the foundation, structural
components, exterior walls or roof of the Building as necessary for safety and tenantability, all of which shall be Landlord’s
responsibility to repair and maintain at Landlord’s sole cost and expense if the need for repair is not brought about by
any act or neglect of Tenant, its agents, employees, contractors, invitees, licensees or assignees. Without limiting the generality
of the foregoing limitation, Landlord specifically shall have no obligation to repair any interior or exterior glass or doors (including
loading doors) located in or on or constituting a part of the Premises, nor shall Landlord have any obligation to maintain exterior
lighting

 

Notwithstanding
the foregoing limitations on Landlord’s repair obligations, during the first year of the initial Lease Term only, Landlord
shall be obligated to promptly correct any defects in material or workmanship throughout the Premises and repair any building systems,
equipment, and fixtures which were not in good working order and condition as of the Commencement Date.

 

    	 	14	 

     

    

 

		G	Repairs
                                         by Tenant. Tenant shall repair, maintain, replace as necessary, and keep in good,
                                         clean, and safe repair all portions of the Premises and all equipment, fixtures, and
                                         systems therein which are not specifically set forth as the responsibility of Landlord
                                         elsewhere in this Lease, ordinary wear and tear, damage by the elements, and casualty
                                         excepted. Tenant’s repairs and replacements shall include, without limitation,
                                         all electrical, plumbing, heating and air conditioning systems, parts, components, and
                                         fixtures. In connection therewith, Tenant shall maintain in force at all times a maintenance
                                         contract for the heating, ventilation and air conditioning equipment: (1) reasonably
                                         acceptable in form and content to Landlord; (2) with a service organization reasonably
                                         acceptable to Landlord; and (3) providing for at least semi-annual maintenance of such
                                         equipment, and shall provide Landlord with a true copy of such maintenance contract.
                                         Tenant shall also promptly repair or replace all partitions and all glass and plate glass
                                         within or constituting a part of the Premises immediately when cracked or broken, unless
                                         caused by Landlord or Landlord’s employees or agents, and Tenant shall be liable
                                         for and shall hold Landlord harmless against all loss, cost, and damage (including reasonable
                                         attorneys’ fees) arising from any damage or injury to the Premises or the Park
                                         or to any person or property caused or contributed to by any act or negligence of Tenant,
                                         any invitee, agent, affiliate, customer or client of Tenant or anyone in Tenant’s
                                         control or employ. Landlord gives to Tenant exclusive control of the Premises and shall
                                         be under no obligation to inspect the Premises. Tenant shall promptly report in writing
                                         to Landlord any defective conditions on the Premises known to Tenant which Landlord is
                                         required to repair, and failure to promptly report such defects after Tenant knows of
                                         the defective conditions shall make Tenant liable to Landlord for any liability incurred
                                         by Landlord by reason of such defects, and Tenant indemnifies and holds Landlord harmless
                                         from and against all loss, costs and damage (including reasonable attorneys’ fees)
                                         arising from or related to Tenant’s failure to so report such defective conditions.
                                         In no event shall Tenant cause or allow any outside storage of trash, refuse, debris,
                                         or anything else on the Premises. All personal property of Tenant or Tenant’s employees,
                                         agents, affiliates or invitees located in or brought upon the Premises or any part of
                                         the Park shall be at risk of Tenant only, and Landlord shall not be liable to Tenant
                                         or any other party for any damage thereto or theft thereof resulting from any cause other
                                         than the willful negligence or intentional misconduct of Landlord, its officers, employees,
                                         or agents.

 

If
Tenant does not comply with this Section, Landlord shall have the right to do or cause to be done all acts necessary to bring Tenant
into compliance and bill Tenant for all costs involved.

 

Tenant
shall obtain all necessary governmental permits before making any renovations, improvements, alterations or additions to the Premises.
Landlord agrees to cooperate with Tenant in obtaining such permits. However, Landlord shall have no obligation to pay any fees
or charges in connection therewith.

 

		H.	Liens.
If a mechanic’s or construction lien is filed against any portion of the Premises or Park as a result of work undertaken
by Tenant, then within thirty (30) days after receiving notice of any such lien, Tenant shall discharge the lien either by payment
of the indebtedness due lien claimant or by filing a bond as provided by statute.

 

If
Tenant fails to discharge any lien in accordance with the terms hereof, Landlord shall have the right to discharge the lien by
filing a bond or paying the indebtedness. In this event, Tenant shall pay the cost of the bond or the amount of the lien indebtedness
to Landlord as Additional Rent immediately upon demand. If Tenant does not do so within ten (10) days of demand by Landlord, then
Tenant shall be in default under this Lease and Landlord shall have the same remedies as provided for in Section 9.

 

    	 	15	 

     

    

 

		18.	DAMAGE
OR DESTRUCTION.

 

		A.	If the Premises
are rendered partially or wholly unfit for occupancy by fire, the elements, act of God, or other casualty (fire, the elements,
acts of God, or other casualties hereinafter referred to as a “Casualty”), and if such damage cannot, in Landlord’s
reasonable estimation, be materially restored within one hundred eighty (180) days after such Casualty, then Landlord may, at its
sole option, terminate this Lease as of the date of such Casualty and the Lease Term shall end on such date as if that date had
been originally fixed in this Lease for the expiration of the Lease Term. Landlord shall exercise its election to terminate provided
herein by written notice to Tenant as soon as practical and in any event within sixty (60) days after such Casualty. For purposes
hereof, the Premises shall be deemed “materially restored” if they are in such condition as would not prevent or materially
interfere with Tenant’s use of the Premises for the purpose for which it was then being used.

 

		B.	If this Lease
is not terminated pursuant to Subsection A above, then Landlord shall proceed with all due diligence to repair and restore the
Premises using the proceeds of insurance which shall be made available by Tenant, as the case may be (except that Landlord may
elect not to rebuild, and thus terminate this Lease, if such Casualty occurs during the last year of the Lease Term exclusive of
any renewal or extension option that is unexercised at the date of such Casualty). If Landlord shall fail to complete such repairs
and material restoration within one hundred eighty (180) days after the date of the Casualty, then Tenant may at its option and
as its sole remedy terminate this Lease by delivering written notice to Landlord, whereupon the Lease shall end on the date of
such notice as if the date of such notice were the date originally fixed in this Lease for the expiration of the Lease Term hereof;
provided, however, that if construction is delayed because of changes, deletions, or additions in construction requested by Tenant,
or because of strikes, lockouts, casualties, acts of God, war, material or labor shortages, governmental regulation or control,
or other causes beyond the reasonable control of Landlord, then the period for restoration, repair or rebuilding shall be extended
for the amount of time Landlord is so delayed. In no event shall Landlord be required to rebuild, repair or replace any part of
the partitions, fixtures, additions, or other property and improvements that may have been placed in or about the Premises by Tenant,
provided that Tenant shall be entitled to rebuild, repair, or replace said items using the proceeds of any insurance available
therefor.

 

		C.	If this Lease
shall not be terminated by Landlord pursuant to this Section 18 and if the Premises are unfit for occupancy in whole or in part
following such Casualty, then the Base Rent payable during the period in which the Premises are unfit for occupancy shall abate
in proportion to the percentage of the rentable area of the Premises rendered unusable by such Casualty; provided, however, that
no such abatement shall be made under the provisions of this Subsection C if such Casualty shall have been caused through the negligence
or willful misconduct of Tenant, its agents, employees, contractors, invitees, licensees, tenants, or assignees.

 

		D.	Notwithstanding
anything herein to the contrary, if, following any Casualty, the holder of any indebtedness secured by a mortgage or deed to secure
debt or similar instrument covering the Premises requires that any insurance proceeds resulting from the Casualty be paid to it
rather than to Landlord for the rebuilding or restoration of the Premises, then Landlord shall have the right to terminate this
Lease by delivering written notice of termination to Tenant within fifteen (15) days after such requirement is made by any such
person, whereupon the Lease shall end on the date of the Casualty as if the date of such Casualty were the date originally fixed
in this Lease for the expiration of the Lease Term.

 

    	 	16	 

     

    

 

		E.	If any Casualty
described in this subsection occurs, then Landlord shall not be liable to Tenant for any inconvenience, annoyance, loss of profits,
expenses, or any other type of injury or damage resulting from the repair of any such Casualty, or from any repair, modification,
arranging or rearranging of any portion of the Premises or for termination of this Lease as provided in this subsection, except
to the extent of any bodily injury to persons or damage to property resulting solely from Landlord’s negligence or intentional
misconduct in performing such work.

 

		19.	CONDEMNATION.

 

		A.	Total Taking.
In the event that the whole of the Premises shall be taken under the exercise of the power of eminent domain or by agreement
with any condemnor in lieu of such taking, including but not limited to a temporary taking of the Premises for a period in excess
of six (6) months (all of the foregoing herein called a “Total Taking”), then this Lease shall terminate as of the
earlier of the date when title thereto vests in the condemnor or the date when possession thereof shall be delivered to the condemnor.

 

		B.	Award on
Total Taking. The entire award with respect to any Total Taking shall be paid to Landlord, except that Tenant shall be
entitled to any award which the condemnor may make, and which shall be provided for by law, specifically for Tenant’s improvements,
moving expenses and business dislocation damages, provided that same are not deducted from the award otherwise payable to Landlord.

 

		C.	Partial
Taking. In the event that any portion or portions of the Premises shall be taken under the exercise of the power of eminent
domain or by agreement with any condemnor in lieu of such taking (herein called a “Partial Taking”), then this Lease,
only as to the portion or portions so taken, shall terminate as of the date possession thereof shall be delivered to the condemnor;
provided, however, if as a result of such Partial Taking, it is economically unfeasible to reconstruct or operate for Tenant’s
business the remaining portion of the Premises because of the insufficiency in size of the remaining portion of the Premises or
Tenant’s ability to access the Premises is severely reduced, and Tenant so certifies to Landlord, then (1) this Lease shall
terminate thirty (30) days from the date possession of the part taken shall be delivered to the condemnor, and (2) such Partial
Taking shall be deemed to be and treated as a Total Taking.

 

		D.	Reconstruction.
                                         If during the Lease
                                         Term there shall be a Partial Taking, and if this Lease shall not be terminated on account
                                         thereof pursuant to the provisions of the immediately preceding Subsection C, then (1)
                                         Landlord shall repair and restore the remaining portion of the Premises so that they
                                         constitute architectural units with the same general character and condition to the nearest
                                         extent possible under the circumstances as the previous Premises, and (2) this Lease
                                         shall remain in full force and effect with respect to such remaining portion of the Premises.
                                         Landlord shall use its best efforts to complete the reconstruction promptly and within
                                         the period mutually agreed upon by the parties.

 

		E.	Award on
Partial Taking. The entire award with respect to any Partial Taking shall be paid to Landlord, excluding however any award
for Tenant’s improvements and business interruption.

 

		F.	Temporary
Taking. In the event a taking or condemnation of the Premises, or any part thereof, shall be for temporary use or occupancy
not exceeding a period of six (6) months, then: (1) this Lease and all Tenant’s obligations hereunder shall continue in full
force and effect (except to the extent that performance by Tenant of Tenant’s covenants and agreements is prevented by such
taking); (2) there shall be no reduction or abatement of Rent; (3) Tenant shall be entitled to the entire award with respect to
any such taking, except that Landlord shall be entitled to any portion of such award allocable to any period of time beyond the
expiration of the Term of this Lease; and (4) the rights of Landlord and Tenant shall be unaffected by the other provisions of
this Article and shall be governed by applicable law or Tenant shall have the option to terminate the Lease with no further liability
to Landlord.

 

    	 	17	 

     

    

 

		G.	Settlement
                                         Agreement.
                                         For the purposes
                                         of this Lease, all amounts paid pursuant to an agreement with any condemnor in settlement
                                         of any condemnation or any eminent domain proceeding affecting the Premises shall be
                                         deemed to constitute an award made in such proceeding.

 

		H.	Abatement
in Base Rent. In a case of a Partial Taking which does not result in a termination of this Lease, the annual Base Rent
payable under this Lease, after possession of the portion so taken shall be delivered to the condemnor, shall be reduced in the
same proportion as the amount of usable floor area of the Premises shall have been reduced by such Taking, but any such Partial
Taking shall not relieve Tenant from Tenant’s liability to pay the full Additional Rent payable under this Lease, or from
any of Tenant’s other obligations hereunder, and except as herein expressly provided.

 

		20.	LIABILITY;
INDEMNIFICATION OF LANDLORD AND TENANT.

 

		A.	Damage
in General. Tenant agrees that Landlord, and its officers, employees and agents and those of all affiliated legal entities
shall not be liable to Tenant, and Tenant hereby releases said parties, for any loss, injury, death, or damage (including incidental
or consequential damages) to persons, property, or Tenant’s business from any cause whatsoever, unless such damage, loss
or injury results from the negligence or willful misconduct of Landlord, or its officers, employees or agents. Landlord and its
officers, employees, and agents shall not be liable to Tenant for any such damage or loss, whether or not such damage or loss results
from the negligence or willful misconduct, to the extent Tenant is compensated therefore by Tenant’s insurance.

 

		B.	Indemnification
of Landlord. Tenant agrees to defend with counsel reasonably satisfactory to Landlord, indemnify and save harmless Landlord
from and against any and all liabilities, claims, damages, losses, cost and expenses, including without limitation attorneys’
fees, suffered or incurred by Landlord with respect to: (1) Tenant’s conduct, operation or management of the Premises, or
any work, act or thing whatsoever by Tenant done in, on or about the Premises; (2) any condition of the Premises, resulting by
reason of Tenant’s failure or refusal to perform its obligations under this Lease; (3) any breach or default on the part
of Tenant in the observance or performance of any of its agreements or obligations hereunder; (4) any act or omission of Tenant
or any sublessee or Assignee of Tenant or any of Tenant’s or such sublessee’s or Assignee’s agents, contractors,
servants, employees, business invitees, licensees, visitors or guests with respect to the Premises and/or Park; and (5) any accident,
injury to or death of any person or damage to any property caused by Tenant or its officers, employees, agents, contractors or
invitees in or on the Premises. Landlord shall give prompt written notice to Tenant of any claim asserted against Landlord which,
if sustained, may result in liability of Tenant hereunder, but failure on the part of Landlord to give such notice shall not relieve
Tenant from Tenant’s obligation to defend, indemnify and save harmless Landlord as stated, except to the extent that the
failure to give such notice results in actual loss or damage to Tenant.

 

    	 	18	 

     

    

 

		C.	Indemnification
                                         of Tenant.
                                         Landlord agrees to
                                         defend with counsel reasonably satisfactory to Tenant, indemnify and save harmless Tenant
                                         from and against any and all claims, damages, losses, cost and expenses, including without
                                         limitation attorneys’ fees, suffered or incurred by Tenant as the result of any
                                         accident, injury to or death of any person or damage to any property to the extent caused
                                         in or about the Premises by the negligence or willful misconduct of Landlord or Landlord’s
                                         employees, servants, licensees, or its agents. Tenant shall give prompt written notice
                                         to Landlord of any claim against Tenant which, if sustained, may result in liability
                                         of Landlord hereunder, but Tenant’s failure to give such notice shall not relieve
                                         Landlord from Landlord’s obligation to defend, indemnify and save harmless Tenant
                                         as stated, except to the extent that the failure to give such notice results in actual
                                         loss or damage to Landlord.

 

		21.	MISCELLANEOUS
PROVISIONS.

 

		A.	Governing
Law. This Lease shall be construed and interpreted under the laws of the State of Michigan applicable to contracts made
and fully performed within the state.

 

		B.	References.
All references made and pronouns used herein shall be construed in the singular or plural, and in such gender as the sense
and circumstances require. All references to Section or paragraph numbers or letters shall refer to sections or paragraphs of this
Lease unless otherwise indicated.

 

The
headings inserted in this Lease are for reference purposes only and shall in no way affect the construction of this Lease or limit
the generality of any of its provisions.

 

		C.	Binding
Effect. The terms and conditions of this Lease shall also bind the respective heirs, successors, personal representatives
and assigns of the parties.

 

		D.	Entire
Agreement. Except for the documents listed below, if any, this Lease constitutes the entire agreement between the parties
and shall be deemed to supersede and cancel any other agreement between the parties relating to the transaction herein contemplated.
None of the prior and contemporaneous negotiations, preliminary drafts or prior versions of this Lease containing conditions not
set forth herein shall be used by any of the parties to construe or affect the validity of this Agreement. Each party acknowledges
that no representation, inducement or condition not set forth herein has been made or relied upon by either party.

 

		E.	Enforceability
of Provisions. In case any provision of this Lease or any agreement or instrument executed in connection herewith shall
be deemed invalid, illegal or unenforceable, such provision shall be enforced to the fullest extent permitted by applicable law
and the validity of the remaining provisions hereof shall not in any way be affected.

 

This
Lease shall not be construed more strictly against one party as opposed to the other, merely because it may have been prepared
by counsel for one of the parties. It is recognized that both Landlord and Tenant have contributed substantially and materially
to the preparation of this Lease. Except as specifically provided to the contrary in this Agreement, any approval required by the
terms of this Agreeement to be provided by either party shall not be unreasonably withheld, conditioned, or delayed.

 

		F.	Remedies
Not Exclusive. All of the rights, remedies and benefits provided by this Lease shall be cumulative and shall not be exclusive
of any other rights, remedies, and benefits allowed by law. One or more waivers of any covenant or condition by a party shall not
be construed as a waiver of a further breach of the same or any other covenant or condition.

 

    	 	19	 

     

    

 

		G.	Landlord’s Right to Tenant’s Financial
Information. Landlord reserves the right to require Tenant to submit annual financial information including but not limited
to financial statements and other relevant records. Tenant shall supply Landlord with the requested information within ten (10)
business days of receipt of the request unless otherwise agreed upon. Any financial information provided by Tenant which is not
publicly available and is conspicuously marked “Confidential” by Tenant shall be kept confidential by Landlord and
may be disclosed by Landlord only to Landlord’s lender or to a prospective purchaser of Landlord, the Park, or the Premises
under similar conditions of confidentiality.

 

		H.	Re-Leasing.
Tenant agrees that for a period commencing six (6) months prior to the termination of this Lease, upon reasonable advance notice
to Tenant Landlord may show the Premises to prospective tenants. Landlord may list the Premises for lease or rent with a broker
and may display in and about the Premises the usual and ordinary signs during the last six (6) months of the Lease Term.

 

		I.	Advertising
and Signs. All signs and advertising displayed on and about the Premises shall only advertise the business carried on upon
the Premises. Landlord shall control the character and size of all signs and no sign shall be displayed except those approved in
writing by Landlord, provided that Landlord shall permit Tenant to install signage in any existing pylon or road sign, building
sign, or other existing sign on the Premises.

 

		J.	Quiet Enjoyment. Landlord covenants that Tenant,
upon payment of all the Rent and Additional Rent due under this Lease, and performance of the covenants and obligations under this
Lease or otherwise, may peacefully and quietly occupy the Premises for the term of this Lease including any written extensions
or modifications of same.

 

		K.	Sale
                                         by Landlord. In the event of any sale, conveyance,
                                         transfer, or assignment by Landlord of its interest in and to the Premises, all obligations
                                         under this Lease of the party selling, conveying, transferring, assigning or otherwise
                                         disposing shall cease and terminate and Tenant releases said party from same, and Tenant
                                         shall thereafter look only and solely to the party to whom or which the Premises were
                                         sold, conveyed, transferred, assigned or otherwise disposed of for performance of all
                                         of Landlord’s duties and obligations under this Lease from and after the date of
                                         such sale, conveyance, transfer, assignment, or disposal.

 

		L.	Limitation of Liability. Landlord’s obligation
and liability to Tenant with respect to this Lease shall be limited solely to Landlord’s interest in the Premises, and neither
Landlord, nor any joint venturer, partner, officer, director or shareholder of Landlord or its affiliated legal entities or any
of the joint venturers of Landlord shall have any liability whatsoever with respect to this Lease.

 

		M.	Authority. Each party executing this Lease
warrants that it has full power, authority and legal right to execute and deliver this Lease, and to keep and observe all of the
terms and provisions of this Lease on such party’s part to be observed and performed. Each party warrants that this Lease
is its valid and enforceable obligation.

 

		N.	No Liability for Curtailment Etc., of Services.
Landlord shall not be liable in damages or otherwise and Tenant waives any claim for the curtailment, delay, or failure in
furnishing any services hereunder from any cause whatsoever, except where such curtailment, delay or failure is caused by Landlord’s
willful negligence or misconduct. In no event will Landlord have any liability for any consequential, incidental, or special damages
in connection with furnishing services pursuant to this Lease, nor shall any curtailment, delay, or failure in providing services,
regardless of cause, constitute an eviction of Tenant or termination of this Lease. Landlord shall use reasonable efforts to restore
promptly the curtailed, delayed or failed service.

 

    	 	20	 

     

    

 

		O.	Survival. All agreements and obligations of
a party hereunder which require observance or performance after the expiration or termination of this Lease, or which cannot reasonably
be ascertained as having been observed or performed at the time of such expiration or termination, shall survive, and be enforceable
against said parly following such expiration or termination.

 

		P.	Notices.
                                         Whenever a provision is
                                         made for notice of any kind, it shall be served by United States first class mail, or
                                         personally delivered to the party being put on notice at the addresses listed below or
                                         such other addresses as the parties may indicate for themselves by written notice delivered
                                         in like manner.

 

	If to Landlord:	DART CONTAINER OF MICHIGAN LLC 

500 Hogsback Road 

Treasury Department 

Mason, Michigan 48854-9541 

ATTN:        Steve A. Mills
	 	 
	If to Tenant:	
        XG
        SCIENCES, INC.

        3101
        Grand Oak Drive

        Lansing, Michigan 48911

        ATTN:        Michael R. Knox

        Title:           Chief Executive Officer

 

		Q.	Certificate
                                         of Occupancy. Upon
                                         Tenant’s written request, Landlord shall provide Tenant with a Certificate of Occupancy
                                         issued by the appropriate municipal authority.

 

    	 	21	 

     

    

 

This
lease is signed and made effective as of the date first written above.

 

	 	LANDLORD: 

DART CONTAINER OF MICHIGAN LLC
	 	 	 
	Dated: _______________, 2011	BY:	 
	 	 	Kevin M. Fox
	 	ITS:	Authorized Signatory

 

	 	
        TENANT:

        XG
        SCIENCES, INC.

	 	 	 
	Dated: June 2, 2011	BY:	/s/ Michael R. Knox
	 	 	Michael R. Knox
	 	ITS:	Chief Executive Officer

 

    	 	22	 

     

    

 

EXHIBIT
A

 

PERMITTED
MATERIALS

 

Tenant’s
list of hazardous and toxic materials and wastes required to be disclosed under Section 12 of the Lease.

 

	 	LANDLORD: 

DART CONTAINER OF MICHIGAN LLC
	 	 	 
	Dated: _____________, 2011	BY:	 
	 	 	Kevin M. Fox
	 	ITS:	Authorized Signatory

 

	 	
        TENANT:

        XG
        SCIENCES, INC.

	 	 	 
	Dated: _June 2, 2011	BY:	/s/ Michael R. Knox
	 	 	Michael R. Knox
	 	ITS:	Chief Executive Officer

 

    	 	A-1	 

     

    

 

EXHIBIT
B

 

RULES
AND REGULATIONS

 

		1.	Control
of Common Areas. Landlord shall have the right to control and operate the Common Areas of the Park in such manner as it
deems best for the benefit of the tenants generally. No tenant shall invite to the Premises, or permit the visit of persons in
such numbers or under such conditions as to interfere with the use and enjoyment of the entrances, corridors, facilities, and other
Common Areas of the Park by other tenants.

 

		2.	Observance
                                         of Rules.
                                         Landlord reserves
                                         the right to exclude or expel from the Park any person who, in the judgment of Landlord,
                                         is intoxicated or under the influence of liquor or drugs, or who shall in any manner
                                         do any act in violation of any of the Rules and Regulations of the Park or in violation
                                         of any law, order, ordinance, or governmental regulation.

 

		3.	No Obstruction.
The entries, exits, corridors, stairways and elevators shall not be blocked, obstructed, or interfered with in any way by any
tenant, or used for any other purpose than ingress or egress to and from its respective offices. Nor shall tenant block, obstruct,
or interfere with in any way sprinklers, fire extinguishers, or other fire control equipment, or any electrical, mechanical or
other building systems located on the Premises or on the Park. Tenant shall not bring into or keep within the Premises any animal
or motor vehicle unless prior arrangements have been made with the Landlord.

 

		4.	Security
of Premises. All entrance doors on the Premises shall be kept locked when the Premises are not in use.

 

		5.	Locks.
No additional locks shall be placed on the doors of the Premises by Tenant nor shall any existing locks be changed unless Landlord
is immediately furnished with two keys for each lock on the entrance doors when Tenant assumes possession, with the understanding
that at the termination or expiration of the Lease Term the keys shall be returned.

 

		6.	No Soliciting.
Canvassing, soliciting, or peddling in the Park is prohibited and each tenant shall cooperate to prevent the same.

 

		7.	No Advertising.
Tenant shall not advertise the business, profession or activities of Tenant in any manner which violates the letter or spirit
of any code of ethics adopted by any recognized association or organization pertaining thereto or use the name of the Park for
any purpose other than that of the business address of Tenant.

 

		8.	Proper
Use of Facilities. The drinking fountains, lavatories, water closets, and urinals shall not be used for any purpose other
than those for which they were installed.

 

		9.	Load Limits
on Floors. Tenant shall not place a load upon any floor of the Premises which exceeds the floor load per square foot which
such floor was designed to carry and is allowed by law. Landlord reserves the right to prescribe the weight and position of all
heavy installations which Tenant wishes to place in the Premises so as to distribute properly the weight thereof.

 

		10.	Machinery
and Equipment. Machinery and equipment used by Tenant on the Premises which cause noise and/or vibration that may be transmitted
to the structure of the Premises or to other portions of the Park to such a degree as to be reasonably objectionable to Landlord
or other Tenants shall be placed and maintained by Tenant, at Tenant’s expense, in settings of cork, rubber, or spring-type
noise and/or vibration eliminators sufficient to reduce such noise and/or vibration to reasonably unobjectionable levels.

 

    	 	B-1	 

     

    

 

		11.	Moving of Equipment. Tenant
                                                                  shall move all heavy equipment in and out of the Building and/or Park in compliance with all applicable governmental laws,
                                                                  rules or regulations and the structural design of the Building.

 

		12.	Replacement
                                         of Broken Glass.
                                         Tenant shall replace,
                                         at Tenant’s expense, any and all broken glass, including glass partitions and doors,
                                         if any, in the Premises.

 

		13.	No Hazardous
Materials. Tenant’s operations shall not include the manufacture, use and/or storage of flammable or explosive materials
or substances, and explosive devices, unless same are maintained, used, and stored in accordance with applicable laws and Section
12 of the Lease. Tenant shall conduct its operations so as to avoid hazards associated with flammable or explosive materials or
any other toxic or hazardous material or activity, unless same are maintained, used, and stored in accordance with applicable laws
and Section 12 of the Lease.

 

		14.	Good Housekeeping.
Tenant shall observe good housekeeping and keep the Premises reasonably clean and neat at all times, and free of pest or vermin
of any kind.

 

		15.	Landlord
Not Liable. Landlord is not responsible to any tenant for the non-observance or violation of the Rules and Regulations
by any other tenant.

 

		16.	Modifications
to Rules and Regulations. Landlord reserves the right by written notice to Tenant to rescind, amend, alter or waive any
rule or regulation at any time prescribed for the Park when, in Landlord’s judgment, it is necessary, desirable or proper
for the best interest of the Park and its tenants, provided that such rescissions, amendments, alterations, or waivers may not
be unreasonable when applied to Tenant or may not unreasonably restrict Tenant’s use of the Premises for the purpose described
in Section 7 of the Lease.

 

		17.	Drives
                                         and Parking Areas. All parking shall be within the Premises boundaries and within
                                         marked parking spaces. At no time shall Tenant obstruct drives and loading areas
                                         intended for the use of all tenants. The drives and parking areas are for the joint and
                                         non-exclusive use of Landlord’s tenants, and their agents, customers and invitees,
                                         unless specifically marked. Landlord shall have the right to restrict Tenant, its agents,
                                         customers, and/or invitees to certain parking areas. Tenant shall not permit any fleet
                                         trucks to park overnight in the Building’s parking areas.

 

		18.	Storage
and Loading Areas. Unless specifically approved by Landlord in writing, no materials, supplies or equipment shall be stored
anywhere except inside the Premises. Trash receptacles may not be placed in the service area except as otherwise approved by Landlord.

 

		19.	Contractors
and Service Maintenance. Tenant will refer all contractors, contractor’s representatives and installation technicians
rendering any service on or to the Premises for Tenant to Landlord for its approval and supervision before performance in the Building,
including, but not limited to, installation of electrical devices and attachments and installations of any nature affecting floors,
walls, woodwork, trim, windows, ceilings, equipment or any other physical portion of the Building.

 

		20.	Lodging.
                                         Tenant shall not
                                         at any time occupy any part of the Building as sleeping or lodging quarters.

 

    	 	B-2	 

     

    

 

		21.	Exterior
Installations. Tenant shall not install any radio or television antenna, satellite dish, loudspeaker, or any other device
on the roof or exterior walls of the Building without Landlord’s prior written consent.

 

		22.	Waivers.
Landlord may waive any one or more of these Rules and Regulations for the benefit of any particular tenant in the Park, but
no such waiver by Landlord shall be construed as a general waiver of such Rules and Regulations or of Landlord’s right to
enforce such Rules and Regulations against Tenant or any other tenant in the Park.

 

		23.	Additions
to Lease. These Rules and Regulations are in addition to, and shall not be construed to in any way, modify or amend, in
whole or in part, the terms, covenants, agreements, and conditions of the Lease or any other lease of premises. In the event of
any conflict or inconsistencies between these Rules and Regulations and the Lease, the terms of the Lease shall control.

 

		24.	Access
to Roof. Neither Tenant nor any employee, contractor or invitee of Tenant shall go upon the roof of the Building without
the prior written consent of Landlord.

 

		25.	Sales From
Premises. Tenant shall not allow a fire or bankruptcy sale or any auction to be held on the Premises or allow the Premises
to be used for the sale at retail of merchandise to the general public.

 

	 	
        LANDLORD:

        DART
        CONTAINER OF MICHIGAN LLC

	 	 
	Dated: _______________,
    2011	BY:	 
	 	 	Kevin M. Fox
	 	ITS:	Authorized Signatory

 

	 	
        TENANT:

        XG
        SCIENCES, INC.

	 	 	 
	Dated: June 2,
    2011	BY:	/s/ Michael R. Knox
	 	 	Michael R. Knox
	 	ITS:	Chief Executive Officer

 

    	 	B-3Exhibit
10.6

 

FIRST
AMENDMENT TO LEASE AGREEMENT

 

This
First Amendment shall be a part of the Lease Agreement with an effective date of August 1, 2011, between DART CONTAINER OF MICHIGAN
LLC, a Michigan limited liability company (“Landlord”), and XG SCIENCES, INC., a Michigan corporation (“Tenant”),
covering the premises known as Lot 29, Oakwood Executive Park, more commonly known as 3101 Grand Oak Drive, Lansing, Michigan 48911.

 

Landlord
and Tenant have agreed that in Par. 4(A):

 

		1.	In the first
and second lines of the first grammatical paragraph, the phrase “Landlord as Additional Rent” shall be deemed deleted
and the phrase “the appropriate taxing authority” shall be deemed inserted in its place.

 

		2.	At the end of
the first grammatical paragraph, the following sentence shall be deemed inserted: “Contemporaneous with its payment of any
Taxes, Tenant shall provide Landlord with photocopies of the tax or assessment bill being paid and of Tenant’s check by which
the Taxes are being paid.”

 

		3.	The second grammatical
paragraph shall be deemed deleted in its entirety and the following shall be deemed inserted in its place: “Tenant shall
pay its respective share of Taxes either for the entire year or its prorate share of any partial year in which Tenant occupies
the Premises.”

 

Landlord
and Tenant also have agreed that Par. 4(C) shall be deemed deleted in its entirety and the following shall be deemed inserted in
its place:

 

Estimated
Payments. Prior to the Commencement Date and prior to January 1 of each subsequent calendar year during the Lease Term,
or as soon thereafter as possible, Landlord shall deliver to Tenant an estimate of: (1) the Insurance costs for that calendar year
(the “Insurance Estimate”); and (2) the total CAM Charges for that calendar year (the “CAM Estimate”) and
Tenant’s Share thereof. (The Insurance Estimate and the CAM Estimate are sometimes referred to hereinafter collectively as
the “Common Cost Estimates”.) Tenant shall thereafter during that calendar year pay to Landlord one-twelfth (1/12) of
the amount of Tenant’s Share of the Common Cost Estimates at the same time its monthly installments of Base Rent hereunder
are due and payable. In the event Landlord shall not have furnished the Common Cost Estimates to Tenant by January 1 of any calendar
year, then until the first day of the month following the month in which the Common Cost Estimates are furnished to Tenant, Tenant
shall continue to pay to Landlord on the first day of each calendar month its share of the Common Cost Estimates based on the previous
year’s estimate. At such time as Landlord furnishes the Common Cost Estimates to Tenant, Landlord shall give Tenant notice stating
whether the aggregate amount of the installments of Tenant’s Share of Insurance Increase and CAM Charges previously paid
for such calendar year is more or less than the aggregate amount of the installments due for such portion of the calendar year
as computed in accordance with the Common Cost Estimates, and (1) if there shall be a deficiency, then within ten (10) days after
the Tenant receives the Common Cost Estimates, Tenant shall pay the amount of such deficiency, (2) if there shall have been an
overpayment, Landlord shall credit Tenant in the amount thereof toward the subsequent installments of the Common Cost Estimates,
and (3) on the first day of the first month next following the month in which the Common Cost Estimates are furnished to Tenant,
and monthly thereafter for the balance of such calendar year, Tenant shall pay to Landlord one-twelfth (1/12) of the amount of
Tenant’s Share of the Common Cost Estimates. Tenant’s right to contest Common Cost Estimates shall be limited to six
months from date of notification by Landlord.

 

    	 	Page 1 of 2	 

     

    

 

Landlord
and Tenant further have agreed that, in the third line of Par. 8(A) following the word “due” and before the period,
the following shall be deemed inserted: “or the appropriate taxing authority fails to receive any payment of Taxes within
ten (10) days after written notice from either Landlord or the taxing authority that such payment is past due.”

 

All
other terms and conditions of the original Lease Agreement shall remain in effect as first written and previously amended.

 

The
effective date of this First Amendment shall be August 15, 2011, regardless of the date written below.

 

Each
party executing this Amendment warrants that it has the requisite power and authority to do so.

 

	 	 	XG SCIENCES, INC. 

    a Michigan corporation (Tenant)
	WITNESS	 	 
	 	 	 
	/s/ Michelle Coulter	 	/s/  Michael
    R. Knox
	[signature]	 	BY: Michael R. Knox
	 	 	ITS: Chief Executive Officer
		 	 
	Michelle Coulter	 	 
	[print name]	 	DATE: 8-16-2011
	 	 	 
	 	 	DART CONTAINER OF MICHIGAN LLC,
	 	 	a Michigan corporation (Landlord)
	WITNESS	 	 
	 	 	 
	/s/ Maisha Zimmerman	 	/s/ Kevin M. Fox
	[signature]	 	BY: Kevin M. Fox
	 	 	ITS: Authorized Signer
	 	 	 
	Maisha Zimmerman	 	 
	[print name]	 	DATE: 8-22-2011

 

    	 	Page 2 of 2	 

     

    

 

	1.	LEASE OF THE PREMISES	1
	2.	LEASE TERM	1
	3.	BASE RENT	1
	4.	COMMON COSTS AS ADDITIONAL RENT	2
	 	A.	Taxes and Assessments	2
	 	B.	CAM Charges	3
	 	C.	Estimated Payments	3
	 	E.	Late Charges	3
	 	 	1.	Landlord May Incur Unanticipated Costs	3
	 	 	2.	Tenant Owes Late Charge	4
	 	 	3.	Late Charge is Fair Estimate	4
	 	 	4.	If Tenant’s Check Returned	4
	 	 	5.	Charges Become ‘Additional Rent’	4
	 	 	6.	Application of Money From Tenant	4
	 	 	7.	Payment by Landlord on Tenant’s Behalf and Associated Charges	4
	 	 	8.	Landlord May Pursue Other Remedies	4
	 	 	9.	Landlord May Require Advance Quarterly Payment	4
	5.	SECURITY PROVISION	5
	6.	INSURANCE	5
	 	A.	Property Insurance	5
	 	B.	Liability Insurance	5
	 	C.	Form, Amount and Coverage, Etc.	6
	 	D.	Increase in Insurance Premium	6
	 	E.	Accidents	6
	 	F.	Payment By Landlord	6
	 	G.	Waivers of Claims/Subrogation	6
	7.	USE	6
	 	A.	Use	6
	 	B.	Use of Common Areas	7
	 	C.	Management and Operation of Common Areas	7
	8.	DEFAULT	7
	9.	LANDLORD’S REMEDIES FOR TENANT’S DEFAULT	7
	10.	MISCELLANEOUS DEFAULT PROVISIONS	9
	11.	ASSIGNMENT AND SUBLETTING	10
	12.	HAZARDOUS SUBSTANCES	10
	13.	ALTERATIONS	11
	 	A.	Changes, Alterations and Additional Construction	11
	 	B.	Manner of Construction	11
	 	C.	Title to Alterations	11
	14.	SURRENDER	13
	 	A.	Delivery of Possession	13
	 	B.	Holding Over	13
	 	C.	Removal of Personal Property	13
	 	D.	Retention of Personal Property	13
	15.	RIGHT TO MORTGAGE	13
	16.	ESTOPPEL CERTIFICATES	14
	17.	MAINTENANCE AND REPAIRS	14
	 	A.	Utilities	14
	 	B.	Cleaning and Upkeep	14

 

     i

     

    

 

	 	C.	Grounds Maintenance	14
	 	D.	Snowplowing	14
	 	E.	Landlord’s Right of Entry	14
	 	F.	Repairs by Landlord	14
	 	G.	Repairs by Tenant	15
	 	H.	Liens	16
	18.	DAMAGE OR DESTRUCTION	16
	19.	CONDEMNATION	17
	 	A.	Total Taking	17
	 	B.	Award on Total Taking	17
	 	C.	Partial Taking	17
	 	D.	Reconstruction	17
	 	E.	Award on Partial Taking	18
	 	F.	Temporary Taking	18
	 	G.	Settlement Agreement	18
	 	H.	Abatement in Basic Rent	18
	20.	LIABILITY; INDEMNIFICATION OF LANDLORD AND TENANT	18
	 	A.	Damage in General	18
	 	B.	Indemnification of Landlord	18
	 	C.	Indemnification of Tenant	19
	21.	MISCELLANEOUS PROVISIONS	19
	 	A.	Governing Law	19
	 	B.	References	19
	 	C.	Binding Effect	19
	 	D.	Entire Agreement	19
	 	E.	Enforceability of Provisions	19
	 	F.	Remedies Not Exclusive	20
	 	G.	Landlord’s Right To Tenant’s Financial Information	20
	 	H.	Re-Leasing	20
	 	I.	Advertising and Signs	20
	 	J.	Quiet Enjoyment	20
	 	K.	Sale by Landlord	20
	 	L.	Limitation of Liability	20
	 	M.	Authority	21
	 	N.	No Liability for Curtailment, Etc., of Services	21
	 	O.	Survival	21
	 	P.	Notices	21
	 	Q.	Certificate of Occupancy	21
	EXHIBIT A - Hazardous and Toxic Materials	A-1
	EXHIBIT B - Rules and Regulations	B-1
	 	1.	Control of Common Areas	B-1
	 	2.	Observance of Rules	B-1
	 	3.	No Obstruction	B-1
	 	4.	Security of Premises	B-1
	 	5.	Locks	B-1
	 	6.	No Soliciting	B-1
	 	7.	No Advertising	B-1
	 	8.	Proper Use of Facilities	B-1
	 	9.	Load Limits on Floors	B-1

 

     ii

     

    

 

	 	10.	 Machinery and Equipment	B-1
	 	11.	 Moving of Equipment	B-2
	 	12.	 Replacement of Broken Glass	B-2
	 	13.	 No Hazardous Materials	B-2
	 	14.	 Good Houskeeping	B-2
	 	15.	 Landlord Not Liable	B-2
	 	16.	 Modifications to Rules and Regulations	B-2
	 	17.	 Drives and Parking Areas	B-2
	 	18. 	Storage and Loading Areas	B-2
	 	19. 	Contractors and Service Maintenance	B-2
	 	20.	 Lodging	B-2
	 	21.	 Exterior Installations	B-3
	 	22.	 Waivers	B-3
	 	23.	 Additions to Lease	B-3
	 	24.	 Access to Roof	B-3
	 	25. 	Sales From Premises	B-3
	EXHIBIT C - Floor Plan	C-1
	EXHIBIT D - The TI Work	D-1

 

     iii

     

    

 

LEASE

 

THIS
LEASE is made effective as of August 1, 2011, between DART CONTAINER OF MICHIGAN LLC, a Michigan limited liability company with
offices at 500 Hogsback Road, Mason, Michigan 48854 (“Landlord”), and XG SCIENCES, INC., a Michigan corporation, currently
located at 5020 Northwind Drive, Suite 212, E. Lansing, Michigan 48823 (“Tenant”).

 

1.   LEASE
OF THE PREMISES.
Landlord, in consideration of the rents to be paid and the covenants and agreements to be performed by Tenant hereby leases to
Tenant for the Term set forth below, the following described property (the “Premises”) located in Oakwood Executive
Park (the “Park”), as further shown on Exhibit C:

 

Lot
29, Oakwood Executive Park, according to the Plat thereof recorded at Liber 50, Page 38 of Plats, Ingham County Records, and commonly
known as 3101 Grand Oak Drive, Lansing, Michigan 48911, and also known as Tax Parcel No. 33-25-05-02-405-033.

 

Tenant
hereby hires the Premises for the Lease Term and covenants to pay, or cause to be paid, to Landlord, at the dates and times set
forth herein, the entire Rent, as specified herein.

 

2.   LEASE
TERM.
The term of this Lease shall be for a term of ten (10) years (the “Lease Term”), and shall commence on the first day
of September, 2011, or as adjusted as provided in this Section 2 (“Commencement Date”). Unless terminated earlier in
accordance with the terms of this Lease, this Lease shall terminate on August 31, 2021, or as adjusted as provided in this Section
2 (“Termination Date”).

 

Landlord
requires approximately ninety (90) days for the build-out of the Premises, as described in Exhibits C, D,
E, and F. The Commencement Date shall be the last to occur of (a) September 1, 2011, or (b) the date upon which Landlord notifies
Tenant of the completion of Landlord’s build-out work described in Exhibits C and D.. If the Commencement Date shall be a
date after September 1, 2011, then the Commencement Date, Termination Date, and rental periods shown in Section 3 shall be adjusted
accordingly.

 

3.   BASE
RENT.
During the Lease Term, Tenant shall pay annual Base Rent and all other rent due and owing by Tenant under this Lease (“Additional
Rent”) to Landlord at such place as Landlord shall from time to time designate in writing. Annual Base Rent will be payable
in equal monthly installments, as follows:

 

	Lease Period	 	Monthly Installment	 	 	Annual Base Rent	 
	09/01/11-08/31/12	 	$	15,833.00	 	 	$	189,996.00	 
	09/01/12-08/31/13	 	$	16,150.00	 	 	$	193,800.00	 
	09/01/13-08/31/14	 	$	16,473.00	 	 	$	197,676.00	 
	09/01/14-08/31/15	 	$	16,803.00	 	 	$	201,636.00	 
	09/01/15-08/31/16	 	$	17,139.00	 	 	$	205,668.00	 
	09/01/16-08/31/17	 	$	17,481.00	 	 	$	209,772.00	 
	09/01/17-08/31/18	 	$	17,831.00	 	 	$	213,972.00	 
	09/01/18-08/31/19	 	$	18,188.00	 	 	$	218,256.00	 
	09/01/19-08/31/20	 	$	18,551.00	 	 	$	222,612.00	 
	09/01/20-08/31/21	 	$	18,922.00	 	 	$	227,064.00	 

 

    	 	1	 

     

    

 

		A.	All monthly installments
of Base Rent shall be payable to Landlord in advance on the first day of each month during the Lease Term without notice, demand,
deduction or set off, except as otherwise provided herein. Tenant shall pay the first month’s installment of Base Rent on
the date of Tenant’s execution of this Lease. If Tenant shall not be in default at the time of the exercise of the option
or at the end of the then current Lease Term, then Tenant shall have the right and option to renew this Lease for up to two (2)
additional renewal terms of five (5) years each by providing Landlord with written notice of Tenant’s exercise of such right
not less than six (6) months prior to the expiration of the initial Lease Term or the renewal Lease Term then in force, whichever
is applicable. Annual Base Rent shall be increased at the commencement of each renewal term, and each anniversary of said commencement
date of the renewal term by two percent (2%) per annum.

 

		B.	As used in this
Lease, the term “Rent” shall include all amounts payable pursuant to this Lease and all other additional charges or
sums payable to Landlord hereunder. All Rent due and owing by Tenant under this Lease shall be paid by Tenant to Landlord without
deduction, set off or abatement, except as otherwise provided herein.

 

		C.	Tenant’s
obligation to pay Base Rent, Additional Rent, and all other charges due and owing by Tenant under this Lease shall survive the
expiration or earlier termination of this Lease.

 

		D.	Landlord has
received an estimate of $640,00.00 for the cost of the build-out of the Premises for Tenant, (“Tenant Improvements”)
per the attached Exhibit D (the “TI Work”). Landlord shall pay the first $640,000.00 of the Tenant Improvements of
the Premises (the “TI Allowance”) and Tenant shall be responsible for all amounts exceeding the TI Allowance. Landlord
shall improve the Premises with the Tenant Improvements described in, and designed and completed in accordance with, the attached
Exhibits C and D. Landlord and Tenant shall mutually agree on any changes to the TI Work. Any amounts payable for Tenant Improvements
over and above the amount of the TI Allowance initially will be paid by the Landlord, then will be billed by Landlord to Tenant.
Tenant shall pay Landlord for any amounts in excess of the TI Allowance spent by Landlord for the Tenant Improvements within ten
(10) days of Tenant’s receipt of bills for those improvements.

 

		4.	COMMON
COSTS AS ADDITIONAL RENT.

 

		A.	Taxes and
Assessments. Tenant shall be responsible for and agrees to pay directly to Landlord as Additional Rent all taxes and assessments
which may be billed or assessed by any lawful authority during each calendar year during the term of this Lease against the Premises
or any part thereof (hereinafter referred to as the “Taxes”). Taxes shall also include all taxes, levies and charges
which may be assessed, billed or imposed in replacement of or in addition to all or any part of real property taxes as revenue
sources, and which in whole or in part are measured or calculated by or based upon the Premises, the freehold estate of the Landlord
in and to the Premises, the leasehold estate of the Tenant created herein, or the rent and other charges payable hereunder. In
no event shall Tenant be obligated to pay any income taxes, inheritance, estate, gift, transfer taxes, penalties and interest of
Landlord. Notwithstanding anything stated or implied to the contrary in this paragraph, Tenant shall be responsible only for installments
of special assessments which come due during the Lease Term.

 

    	 	2	 

     

    

 

Taxes
shall be computed by adding all Taxes billed pertaining to the Premises during the calendar year regardless of any tax bill’s
stated period of coverage. Tenant will be billed its respective share thereof either for the entire year or its prorata share of
any partial year in which Tenant occupies the Premises.

 

		B.	CAM Charges.
During the Lease Term, Tenant shall pay to Landlord, as Additional Rent, Tenant’s share of all common area electrical,
grounds maintenance, security services (if any) and other common area charges and expenses (the “CAM Charges”), as
provided below. The term “grounds maintenance” shall include, without limitation, all landscaping, planting, lawn and
grounds care, all maintenance of and improvements to the grounds and other common areas adjacent to the Premises and to all sidewalks,
driveways, loading areas, parking areas, and all snow removal. For the purposes of this Lease, “common areas” or “Common
Areas” shall mean those areas of the Park outside of the Premises and outside of the leased premises of any other tenant
of the Park which are to be maintained by Landlord.

 

		C.	Estimated
Payments. Prior to the Commencement Date and prior to January 1 of each subsequent calendar year during the Lease Term,
or as soon thereafter as possible, Landlord shall deliver to Tenant an estimate of; (1) the Property Taxes for that calendar year
(the “Tax Estimate”); (2) the Insurance costs for that calendar year (the “Insurance Estimate”); and (3)
the total CAM Charges for that calendar year (the “CAM Estimate”) and Tenant’s Share thereof. (The Tax Estimate,
the Insurance Estimate and the CAM Estimate are sometimes referred to hereinafter collectively as the “Common Cost Estimates”.)
Tenant shall thereafter during that calendar year pay to Landlord one-twelfth (1/12) of the amount of Tenant’s Share of the
Common Cost Estimates at the same time its monthly installments of Base Rent hereunder are due and payable. In the event Landlord
shall not have furnished the Common Cost Estimates to Tenant by January 1 of any calendar year, then until the first day of the
month following the month in which the Common Cost Estimates are furnished to Tenant, Tenant shall continue to pay to Landlord
on the first day of each calendar month its share of the Common Cost Estimates based on the previous year’s estimate. At
such time as Landlord furnishes the Common Cost Estimates to Tenant, Landlord shall give Tenant notice stating whether the aggregate
amount of the installments of Tenant’s Share of Tax Increase, Insurance Increase and CAM Charges previously paid for such
calendar year is more or less than the aggregate amount of the installments due for such portion of the calendar year as computed
in accordance with the Common Cost Estimates, and (1) if there shall be a deficiency, then within ten (10) days after the Tenant
receives the Common Cost Estimates, Tenant shall pay the amount of such deficiency, (2) if there shall have been an overpayment,
Landlord shall credit Tenant in the amount thereof toward the subsequent installments of the Common Cost Estimates, and (3) on
the first day of the first month next following the month in which the Common Cost Estimates are furnished to Tenant, and monthly
thereafter for the balance of such calendar year, Tenant shall pay to Landlord one-twelfth (1/12) of the amount of Tenant’s
Share of the Common Cost Estimates. Tenant’s right to contest Common Cost Estimates shall be limited to six months from date
of notification by Landlord.

 

Current
monthly Common Cost Estimates, based on one hundred percent of building occupancy, are Four Thousand Two Hundred Twenty-Nine Dollars
($4,229.00).

 

		D.	Late
                                         Charges.

 

		1.	Landlord May
Incur Unanticipated Costs. Tenant’s failure to pay Rent, Additional Rent, or any other Lease costs when due under this
Lease may cause Landlord to incur unanticipated costs. The exact amount of such costs are impractical or extremely difficult to
ascertain. Such costs may include, but are not limited to, processing and accounting charges and late charges that may be imposed
on Landlord by any ground lease, mortgage, or other lien encumbering the Premises.

 

    	 	3	 

     

    

 

		2.	Tenant Owes
Late Charge. Therefore, if Landlord does not receive the Rent, Additional Rent, or any other Lease costs in full on or before
the fifth (5th) business day of the month after same is due, Tenant shall pay Landlord a late charge, which shall constitute liquidated
damages, equal to Two Hundred and 00/100 Dollars ($200.00) (“Late Charge”), which shall be paid to Landlord together
with such Rent, Additional Rent, or other Lease costs then in arrears.

 

		3.	Late Charge
is Fair Estimate. The parties agree that such Late Charge represents a fair and reasonable estimate of the cost Landlord will
incur by reason of such late payment.

 

		4.	If Tenant’s
Check Returned. For each Tenant payment check to Landlord that is returned by a bank for any reason, Tenant shall pay both
a Late Charge (if applicable) and a Returned Check Charge or such amount as shall be customarily charged by Landlord’s bank
at the time.

 

		5.	Charges Become
“Additional Rent”. All Late Charges and any Returned Check Charge shall then become Additional Rent and shall be
due and payable immediately, along with such other Rent, Additional Rent, or other Lease costs then in arrears.

 

		6.	Application
of Money From Tenant. Money paid by Tenant to Landlord shall be applied to Tenant’s account in the following order: (a)
to any unpaid Additional Rent, including, without limitation, Late Charges, Returned Check Charges, legal fees and/or court costs
legally chargeable to Tenant, and Operating/CAM Charges; and then (b) to unpaid Base Rent.

 

		7.	Payment by
Landlord on Tenant’s Behalf and Associated Charges. If Tenant fails to make any payment or expenditure required to be
paid by it under the terms of the Lease and such failure continues for a period of ten (10) days after written notice of such failure
is sent by Landlord to Tenant (if such notice is required in this Lease), then Landlord may, at its option, make such payment or
expenditure on behalf of Tenant. In that event, the amount of any such payment or expenditure by Landlord together with interest
at the rate of ten percent (10%) per annum from the date of Landlord’s payment forward, shall be immediately due and payable
to Landlord as Additional Rent.

 

		8.	Landlord May
Pursue Other Remedies. Nothing herein contained shall be construed so as to compel Landlord to accept any payment of Rent,
Additional Rent, or other Lease costs in arrears or Late Charge or Returned Check Charge should Landlord elect to apply its rights
and remedies available under this Lease or at law or equity in the event of default hereunder by Tenant. Landlord’s acceptance
of Rent, Additional Rent, or other Lease costs in arrears or Late Charge or Returned Check Charge pursuant to this Clause shall
not constitute a waiver of Landlord’s rights and remedies available under this Lease or at law or equity as a result of Tenant’s
default.

 

		9.	Landlord May
Require Advance Quarterly Payment. If Rent due hereunder shall be late for three (3) consecutive months, then Landlord shall
have the option to require that the Base Rent due shall be paid quarterly, in advance.

 

    	 	4	 

     

    

 

5.  SECURITY
PROVISION.
By no later than Jun 15, 2011, Tenant shall provide Landlord with a clean, unconditional, irrevocable, transferable letter of credit
in the amount of One Hundred Eighty-Nine Thousand Nine Hundred Ninety-Six Dollars ($189,996.00) (the “Letter of Credit”),
in form and issued by a financial institution (“Issuer”) satisfactory to Landlord in its sole discretion. The Letter
of Credit must permit partial draws and provide that draws will be honored on receipt by Issuer of the original or a certified
copy of the Letter of Credit accompanied by a written statement signed by Landlord or its authorized agent stating that Landlord
is entitled to draw on the Letter of Credit pursuant to the terms of the Lease. The Letter of Credit must have an expiration date
no earlier than August 31, 2021. If Tenant fails, by June 1, 2011, Tenant has failed to provide Landlord with the Letter of Credit
as specified above, then this Lease shall be deemed immediately terminated and Tenant, within ten (10) business days of its receipt
of an itemized list of Landlord’s amounts incurred as of June 1, 2011, for the improvements described in Exhibits C, D, E,
and F, shall reimburse Landlord in full for those amounts incurred.

 

Landlord
may draw the Letter of Credit in part or in full in the event of any uncured Event of Default by Tenant to the extent needed to
pay for any Tenant obligations under this Lease. If Landlord so uses or applies all or any portion of the Letter of Credit, then
Tenant shall restore the Letter of Credit to the full amount within twenty (20) business days after written demand therefor, and
failure to do so shall be a material and immediate Event of Default of this Lease.

 

The
Letter of Credit, if not applied toward putting the Premises in the condition required under Sec. 14(A), the payment of rent in
arrears, or the payment of damages suffered by Landlord by reason of Tenant’s default under the Lease is to be returned to
Tenant at the expiration of the Term of the Lease, provided Tenant has not committed an Event
of Default of any provision of the Lease. In no event is the Letter of Credit to be returned until Tenant has vacated the Premises
and delivered possession of same in in the condition required by this Lease.

 

In
the event of the sale or other transfer of the Premises, Landlord shall have the right to transfer the Letter of Credit to such
purchaser or Transferee, and Landlord shall thereupon be released by Tenant from all liability for return of the Letter of Credit.

 

In
the event that Landlord repossesses the Premises because of Tenant’s Event of Default, Landlord may apply the Letter of Credit
to all damages suffered to the date of repossession and may retain the Letter of Credit to apply to such damages as may be suffered
or shall accrue thereafter by reason of Tenant’s Event of Default.

 

		6.	INSURANCE.

 

		A.	Property Insurance.
                                         During the term of the Lease,
                                         Landlord, on behalf of Tenant, shall keep the Premises insured with Broad Form fire and
                                         extended coverage insurance in an amount not less than the full replacement cost of the
                                         Premises as determined annually. Landlord will bill Tenant monthly, as Additional Rent,
                                         one-twelfth (1/12) of the annual insurance premium for the Premises. Tenant shall be
                                         named as an Additional Insured on said Policy, as Tenant’s interests appear, and
                                         Landlord shall provide Tenant with Evidence of Insurance form (Acord 27 revised 3/93)
                                         showing such insurance in force at all times during the term of this Lease and any renewals.

 

		B.	Liability
Insurance. Tenant, at Tenant’s sole cost and expense, shall maintain comprehensive public liability insurance against
any claims for bodily injury, death, or property damage, occurring on, in or about the Premises, and against contractual liability
for such claims, such insurance to afford minimum protection in the amount of One Million Dollars ($1,000,000.00) or in such higher
amount as Landlord may deem reasonably necessary. Landlord and any mortgagee of the Premises designated in writing by Landlord
shall be named as co-insured or additional insured parties under all such policies. Tenant may provide public liability insurance
under a blanket policy or policies which cover other properties in addition to the Premises. Tenant shall provide Landlord with
an Evidence of Insurance form (ACORD25) or, in the alternative and at Landlord’s sole discretion, Landlord may require Tenant
to provide a true copy of the actual liability insurance policy.

 

    	 	5	 

     

    

 

		C.	Form, Amount
and Coverage, Etc. The form, amount, and coverage of each policy of insurance which Tenant is required to maintain shall
be subject to Landlord’s approval, which shall not be unreasonably withheld. Tenant shall not permit any condition to exist
on the Premises and shall not commit any act or omission which would wholly or partially invalidate any insurance.

 

		D.	Increase
in Insurance Premiums. If anything done by Tenant, omitted to be done by Tenant, or allowed by Tenant to be kept on the
Premises shall cause the rate of fire or other insurance on the Premises, or on other property of Landlord or of other Tenants
in the Park, to be increased beyond the minimum rate from time to time applicable to the Premises or such other property, Tenant
shall pay, as Additional Rent, the amount of any such increase upon Landlord’s demand.

 

		E.	Accidents.
Upon the occurrence of any material accident, injury, or personal property casualty in or about the Premises, Tenant shall
give prompt notice thereof to Landlord, and, upon Landlord’s request, Tenant shall provide Landlord with evidence that any
liability of Landlord relating thereto is covered by the insurance which Tenant is required by this Lease to carry.

 

		F.	Payment
By Landlord. Tenant shall deliver copies of all required policies to Landlord. If Tenant fails to maintain the insurance
coverage required under this section and such failure continues for a period of ten (10) days after written notice thereof from
Landlord to Tenant, Landlord may, at its option, pay the cost of maintaining the required insurance, which shall be Additional
Rent due and payable immediately upon demand.

 

		G.	Waivers
of Claims/Subrogation. Landlord and Tenant hereby waive all rights of action against the other for any loss, cost, damage,
or expense resulting from fire, explosion, or any other casualty or occurrence incurred by either, which loss, cost, damage, or
expense is then covered in whole or in part by insurance maintained or required to be maintained pursuant to this Lease, and each
party waives any right of subrogation that might otherwise exist in or accrue to any person or account thereof.

 

		7.	USE.

 

		A.	Use.
                                         The Premises shall be used only for manufacture, processing, sales, and distribution
                                         of graphite nanoplatelets and related multifunctional materials purposes, including related
                                         laboratory, product research, storage, and office uses. Tenant shall not permit any liens
                                         to attach or exist as against the Premises or the Park, nor commit any waste. The Premises
                                         shall not be used for any illegal purposes, nor in any manner shall Tenant allow, suffer,
                                         or permit any vibration, noise, odor, light or other effect that could constitute a nuisance
                                         or trespass for Landlord or any other tenant, their customers, agents, or invitees. Upon
                                         notice by Landlord to Tenant that any of the aforesaid effects are occurring, Tenant
                                         agrees to immediately remove or control the same.

 

    	 	6	 

     

    

 

		B.	Use of
Common Areas. Landlord grants to Tenant and its agents, employees and customers a non-exclusive license to use the Common
Areas in common with others during the Lease Term, subject to the exclusive control and management thereof at all times by Landlord.

 

		C.	Management
and Operation of Common Areas. Landlord will operate and maintain or will cause to be operated and maintained the Common
Areas in good condition and repair and in a manner deemed by Landlord to be reasonable and appropriate and in the best interests
of the Park. Landlord will have the right: (1) to establish, modify, and enforce reasonable rules and regulations with respect
to the Common Areas, provided same do not unreasonably restrict or interfere with Tenant’s use of the Premises for the permitted
uses; (2) to enter into, modify, and terminate easements and other Common Areas; (3) to close temporarily any or all portions of
the Common Areas; and (4) to do any or perform such other acts in and to said areas and improvements as, in the exercise of good
business judgment, Landlord shall determine to be advisable. A copy of the current Rules and Regulations is attached as Exhibit
B and made a part of this Lease.

 

		8.	DEFAULT.
The following shall constitute Events of Default under this
Lease.

 

		A.	Landlord fails
to receive any payment of Rent or Additional Rent or any other charges payable hereunder within ten (10) days after the written
notice from Landlord to Tenant that such payment is past due.

 

		B.	Failure of Tenant
to perform any of the other terms, conditions or covenants of this Lease to be observed or performed by Tenant for a period of
more than thirty (30) days after written notice of such failure from Landlord to Tenant.

 

However,
if a non-monetary failure cannot reasonably be cured within thirty (30) days, no default shall take place if Tenant begins to cure
said failure within those thirty (30) days and Tenant diligently prosecutes said cure to completion.

 

		C.	Tenant filing
of a voluntary petition in bankruptcy or an involuntary petition in bankruptcy being filed against Tenant, and such petition is
not dismissed within thirty (30) days of such filing.

 

		D.	If Tenant makes
an assignment for the benefit of creditors or enters into a similar arrangement with creditors.

 

		E.	Tenant’s
abandonment or vacating of the Premises at any time during the term of this Lease.

 

For
the purposes of the Events of Default specified in this Section, the word “Tenant” shall include, without limitation:
(1) any party comprising Tenant, should more than one person or entity execute this Lease as Tenant; and (2) any person or entity
now or hereafter liable, whether primarily, secondarily or contingently, for the performance of the duties and obligations of Tenant
under this Lease, including without limitation any principal, maker, endorser, guarantor, or surety.

 

9.   LANDLORD’S
REMEDIES FOR TENANT’S DEFAULT.
If any Event of Default shall have occurred and shall be continuing beyond those periods of time herein granted to cure the same,
then Landlord shall have all of the following rights and remedies:

 

		A.	Landlord may,
by notice to Tenant, accelerate all Base Rent due hereunder and otherwise payable in installments over the remainder of the Lease
Term, and, at Landlord’s option, Additional Rent, including, but not limited to, unearned brokerage commissions paid by Landlord
in connection with this Lease, to the extent that Additional Rent can be determined and calculated to a fixed sum; and the amount
of accelerated Rent shall be due and payable to Landlord upon Landlord’s demand reduced by the reasonable rental value of
the Premises and adjusted to reflect the time value of money at the Wall Street Journal published “Prime Rate” as of
the date of Tenant’s default. Additional Rent which has not been included, in whole or in part, in accelerated Rent shall
be due and payable by Tenant during the remainder of the Lease Term, in the amounts and at the times otherwise provided for in
this Lease.

 

    	 	7	 

     

    

 

		B.	Landlord may,
at Landlord’s option, with judicial process, enter upon the Premises and remove Tenant and any and all other persons therefrom
and take and retain possession thereof and of any and all goods, inventory, equipment, fixtures, and all other personal property
of Tenant situated in the Premises without liability for trespass or conversion, and may sell all or any part thereof at public
or private sale. Tenant agrees that five (5) days’ prior notice of any public or private sale shall constitute reasonable
notice. The proceeds of any such sale shall be applied, first, to the payment of all costs and expenses of conducting the sale
or caring for or storing said property, including all attorneys’ fees; second, toward the payment of any indebtedness, including
(without limitation) indebtedness for Rent, which may be or may become due from Tenant to Landlord; third, to compensate Landlord
for unearned brokerage commissions paid by Landlord in connection with this Lease; and, fourth, to pay the Tenant, on demand in
writing, any surplus remaining after all indebtedness of Tenant to Landlord has been fully paid.

 

		C.	Landlord from
time to time may re-let the Premises, or any part thereof, for such term or terms and on such conditions as Landlord, in its reasonable
discretion, may determine, and Tenant shall be liable to Landlord for (i) the difference between the amount of Rent and Additional
Rent payable hereunder and the net proceeds of such re-letting and (ii) unearned brokerage commissions paid by Landlord in connection
with this Lease. In computing the amount of such difference there shall be added thereto such reasonable expenses as Landlord may
have incurred in connection with such re-letting, including without limitation, attorneys’ fees, brokerage commissions, and
expenses for keeping the Premises in good order and for preparing them for re-letting, including expenses of remodeling and free
rent or other rent incentives provided to the new tenant.

 

		D.	Landlord may
give Tenant notice of Landlord’s intention to terminate this Lease on a date specified in such notice, on which date this
Lease shall terminate. If Landlord shall so elect to terminate this Lease, then Landlord shall be entitled to recover from Tenant,
in addition to all accrued Rent and other sums due from Tenant as of such termination date, damages in an amount equal to: (1)
the amount of Rent reserved for the balance of the Lease Term, less the fair rental value of the Premises for the balance of the
Lease Term, as adjusted to reflect the time value of money at the Wall Street Journal published “Prime Rate” as of
the date of such termination, (2) unearned brokerage commissions paid by Landlord in connection with this Lease, and (3) all costs
and expenses reasonably incurred by Landlord in securing possession from Tenant, in restoring the Premises to the condition in
which Tenant is herein obligated to surrender same to Landlord, in preparing to re-let the Premises, in maintaining and safeguarding
the Premises in attempting to re-let the Premises, and in recovering said damages from Tenant, which costs and expenses shall include,
without limitation, reasonable attorneys’ fees and expenses, costs of security services, costs of storing or disposing of
property left upon the Premises and cleaning and restoration costs. No act or proceeding done or undertaken by Landlord with respect
to an Event of Default shall constitute a termination of this Lease by Landlord unless and until Landlord shall give to Tenant
the termination notice specified in the first sentence of this Subsection D.

 

    	 	8	 

     

    

 

		E.	If Tenant is
in monetary default twice in any six (6) month period, Landlord shall have the right to demand automatic wire transfer of Rent
from Tenant’s account.

 

Landlord’s
pursuit of any one or more of the remedies provided in this Lease shall not constitute an election of remedies excluding the election
of another remedy or other remedies, or a forfeiture or waiver of any rent or other amounts payable under this Lease by Tenant
or of any damages or other sums accruing to Landlord by reason of Tenant’s violation of any provision of this Lease. No action
taken by or on behalf of Landlord shall be construed to mean acceptance of a surrender of this Lease, unless otherwise agreed in
writing by Landlord. No failure of either party to pursue or exercise any of said party’s powers, rights or remedies or to
insist upon strict and exact compliance by the other party with any provision of this Lease, and no custom or practice at variance
with the terms of this Lease, shall constitute a waiver by any party of the right to demand strict and exact compliance with the
terms and conditions of this Lease.

 

10.
   MISCELLANEOUS DEFAULT PROVISIONS.
The right to enforce all of the provisions of this Lease may, at the option of any assignee of Landlord’s rights in this
Lease, be exercised by any such assignee.

 

		A.	Any notation
or statement by a party on any draft, check, or other method of payment of any obligation hereunder, or in any writing accompanying
or accomplishing such payment, which notation or statement purports to impose conditions on such payment or to invoke the doctrine
of accord and satisfaction, shall be absolutely void and of no effect, and may be ignored by the other party.

 

		B.	No right or remedy
herein conferred upon or reserved to a party is intended to be exclusive of any other right or remedy, and every right and remedy
shall be cumulative and in addition to any other right or remedy given hereunder or now or hereafter existing at law or in equity.
Either party shall be entitled to injunctive relief in case of the violation, or attempted or threatened violation, of any covenant,
agreement, condition or provision of this Lease and to a decree compelling performance of any covenant, agreement, condition or
provision of this Lease, or to any other remedy allowed by law or in equity.

 

		C.	No failure by
a party hereto to insist upon the strict performance of any covenant, agreement, term or condition of this Lease on the part of
the other party to be performed, or to exercise any permitted right or remedy consequent upon a default therein, and no acceptance
of the other party’s performance or, in the case of Landlord, of Tenant’s payment of full or partial Rent after such
default, shall constitute a waiver by the party not in default of such default or of such covenant, agreement, term or condition,
or any right or remedy of the party not in default with respect thereto.

 

		D.	If Landlord fails
to perform any covenant on Landlord’s part to be performed under this Lease within thirty (30) days after written notice
is sent from Tenant to Landlord stating the precise nature of the failure, then Tenant may declare Landlord in default, provided
that if nature of the failure is such that it cannot be reasonably cured within the thirty (30) day period, then Landlord shall
not be deemed in default if Landlord, within the thirty (30) day period, commences the cure and thereafter diligently pursues the
same to completion. If Landlord does not cure any such failure within the notice and cure period, then Tenant may elect to terminate
this Lease upon written notice to Landlord, sue for specific performance, sue for injunctive relief, or sue for damages, at Tenant’s
option.

 

If
legal action is required to enforce the performance of either party’s obligations under this Lease, then the prevailing party
in that legal action shall be entitled to recover its reasonable attorneys’ fees and court costs incurred in that action
from the other party.

 

    	 	9	 

     

    

 

11.
   ASSIGNMENT AND SUBLETTING.
Tenant shall not, directly or indirectly, without the prior written consent of Landlord, sell, assign, hypothecate or otherwise
transfer this Lease or any interest hereunder, or sublet the Premises or any part thereof, or permit the use of the Premises by
any party other than Tenant. Consent to any assignment or sublease shall not be deemed a waiver of the right of Landlord to disapprove
any further assignment or subletting. Landlord’s consent hereunder shall not be unreasonably withheld, conditioned, or delayed.
Notwithstanding any permitted assignment or subletting, Tenant shall remain liable for the full and complete performance, satisfaction
and compliance with each and every agreement, term, covenant, condition, requirement, provision and restriction of this Lease,
as principal and not as surety or guarantor, and as if no such assignment or subletting had been made.

 

Landlord
is expressly given the right to assign any or all of its interest in the Premises or this Lease. Landlord shall give written notification
to Tenant promptly after any such assignment.

 

12.
   HAZARDOUS SUBSTANCES.
The term “Hazardous Substances,” as used in this Lease, shall mean pollutants, contaminants, toxic or hazardous wastes,
or any other substances, the removal of which is required or the use of which is restricted, prohibited or penalized by any “Environmental
Law”, which term shall mean any existing or future federal, state, or local law or ordinance relating to pollution or protection
of the environment. Tenant hereby represents and warrants and covenants with Landlord that:

 

		A.	Tenant will obtain
prior to occupancy of the Premises and shall maintain in good standing all local, state and federal government licenses necessary
in order to conduct its operations at the Premises;

 

		B.	No activity shall
be conducted on the Premises that will produce any Hazardous Substance, except for such activities that: (1) are part of the ordinary
course of Tenant’s business activities; and (2) are conducted in accordance with all Environmental Laws (the “Permitted
Activities”);

 

		C.	The Premises
shall not be used in any manner for the storage of any Hazardous Substances except for the temporary storage of such materials
that: (1) are used in the ordinary course of Tenant’s business; (2) are properly stored in a manner and location meeting
the requirements of all Environmental Laws; or (3) which are listed on Exhibit A attached to and made a part of this Lease (the
“Permitted Materials”). Landlord agrees that all items listed on Exhibit A shall be deemed Permitted Materials, provided
they are handled in accordance with the requirements of the preceding sentence.

 

		D.	No portion of
the Premises shall be used as a landfill or a dump;

 

		E.	Tenant shall
not install any underground tanks of any type;

 

		F.	Tenant shall
not allow any surface or subsurface conditions to exist or come into existence that constitute, or with the passage of time may
constitute, a public or private nuisance;

 

		G.	Tenant shall
not permit any Hazardous Substances to be brought onto the Premises, except for the Permitted Materials, and if so brought or found
thereon, the same shall be immediately removed, with proper disposal, and all required cleanup procedures shall be diligently undertaken
pursuant to all Environmental Laws at Tenant’s sole expense.

 

    	 	10	 

     

    

 

The
Tenant shall defend, indemnify, and hold harmless the Landlord, its employees, agents, officers, directors, and shareholders from
and against any and all claims of every kind of nature, known or unknown, contingent or otherwise, demands, criminal and civil
penalties, fines, liabilities, settlements, judgments, damages, costs or expenses, including without limitation, actual reasonable
attorneys’ fees, consultants’ fees, investigation and laboratory fees, court costs and all litigation expenses, arising
out of or in any way related to: (1) the presence, disposal, release or threatened release of any Hazardous Materials caused by
Tenant, on, over, under, from or affecting the Premises or the soil, water, vegetation, buildings, personal property, persons,
or animals; (2) any personal injury (including wrongful death) or property damage (real or personal) arising out of or in any way
related to the release of such Hazardous Materials on the Premises by Tenant; (3) any lawsuit brought or threatened, settlement
reached, or government order relating to the release of such Hazardous Materials by Tenant with respect to the Premises; and/or
(4) any violation of Governmental Regulations which are based upon or in any way related to the release of such Hazardous Materials
by Tenant.

 

Landlord
shall have the right, at any time upon attempted notice to Tenant, to inspect the Premises for violations of this section. Landlord,
at its expense, shall provide Tenant with a current Phase I environmental study of the Premises certified to both Landlord and
Tenant and containing no recognized environmental conditions prior to the Commencement Date. Tenant, at its expense, shall provide
Landlord with a current Phase I environmental study of the Premises certified to both Landlord and Tenant and containing no recognized
environmental conditions on the Leased Premises upon its vacation of the Premises.

 

		13.	ALTERATIONS.

 

		A.	Changes.
Alterations and Additional Construction. Other than the Tenant Improvements described in Exhibit D, which is attached hereto
and made a part hereof, and any other improvements made by Landlord, Tenant, at its expense, shall be responsible for any improvements
to the Premises, including but not limited to those required for compliance with fire and building codes, the Americans with Disabilities
Act (and any regulations implementing said Act), and any other applicable federal, state, or local law or regulation, provided
such improvements are required on account of Tenant’s activities on the Premises. Tenant shall not construct any change,
alteration, or addition in or to the Premises or the Park (any and all of the foregoing being sometimes herein collectively called
an “Alteration”) unless and until, in each instance, Tenant shall have submitted to Landlord plans, specifications and
other materials for such Alteration as Landlord may request and Landlord shall have approved the same in writing. Landlord’s
approval of any Alteration shall not be unreasonably withheld, conditioned, or delayed. Upon the completion of the Lease Term,
other than the Tenant Improvements described in Exhibit D, Tenant may remove any fixtures Tenant installed, such as fume hoods,
benches, casework, or lab equipment, provided that Tenant shall repair any damage to the Premises caused by such removal. Notwithstanding
anything stated or implied to the contrary in Section, Landlord shall complete prior to the Commencement Date, at Landlord’s
expense, painting, flooring, and HVAC upgrades of the Premises.

 

		B.	Manner
of Construction. All Alterations which Landlord shall have approved shall be constructed by Tenant, without expense to
Landlord, in a good, and workmanlike manner, and in compliance with the Landlord-approved plans and specifications therefore and
all applicable permits, laws, ordinances and regulations and order, rules and regulations of the Board of Fire Insurance Underwriters
or any other body exercising similar functions, and in compliance with the terms and conditions of this Lease.

 

    	 	11	 

     

    

 

		C.	Title to
Alterations. Except to the extent otherwise expressly provided herein, upon the completion of construction of each Alteration
(but excluding Tenant’s trade fixtures, equipment, machinery, and signage), such Alteration shall automatically be deemed
part of the Premises for purposes of this Lease. Notwithstanding the foregoing, upon any termination of this Lease or Tenant’s
right of possession of the Premises, at Landlord’s option, (1) prior to such expiration or termination, all such Alterations,
or any parts or parts thereof designated by Landlord, shall be removed from the Premises and the Premises restored substantially
to their condition immediately prior to the construction thereof, all at Tenant’s expense, or (2) upon such expiration or
termination, title to such Alterations, or any part of parts thereof designated by Landlord, in the condition in which Tenant is
obligated to maintain the Alterations pursuant to the provisions of this Lease, shall automatically pass to, vest in, and belong
to Landlord without further action on the part of either party and without cost or charge to Landlord.

 

		D.	Landlord’s
Initial Improvements. Prior to the Commencement Date, Landlord shall make the following improvements to the Premises in
a good and workmanlike manner, in accordance with all applicable laws, codes, and ordinances, and in accordance with the plans
and specifications approved in writing by Tenant: (1) make changes to the office space as shown on Exhibit C attached hereto, (2)
build out the laboratory space as shown on Exhibit D attached hereto, (3) modify the employee washrooms as shown on Exhibit E attached
hereto, and (4) modify the factory as shown on Exhibit F attached hereto. Prior to commencing these improvements, Landlord shall
obtain a fixed price bid for the improvements from Wieland Davco or another contractor or contractors acceptable to the parties.
Tenant must first agree in writing that the bid is acceptable before Landlord proceeds with the improvements, provided that Tenant
shall be deemed to have approved the bid if Tenant does not provide substantive comments on it within five (5) days after Tenant’s
receipt of the bid. If no bid is reasonably acceptable to Tenant, then Tenant may terminate this Lease upon written notice to Landlord.
If the bid is acceptable to Tenant, then Tenant shall confirm that fact in writing delivered to Landlord and Landlord thereafter
shall complete the improvements as promptly as practical. The cost of the improvements as reflected in the approved bid, together
with any additions to the bid approved in writing by Tenant and Landlord, shall be paid by Landlord. This payment by Landlord shall
be amortized as Additional Rent to be paid by Tenant together with Base Rent in equal monthly installments over the Lease Term,
together with interest on the unpaid balance thereof at seven percent (7.0%) per annum.

 

		E.	Subsequent
Improvements. Landlord acknowledges that Tenant is leasing the Premises with an option to require Landlord to expand the
Premises at some time during the first twenty-four (24) months of the Lease Term to include (1) an addition to the Building for
chemical storage of approximately 15,000 square feet, with a blast wall to separate the chemical storage area from the rest of
the Building and (2) to construct a loading dock. Tenant will provide Landlord with the plans and specifications for such expansion.
As promptly as practical thereafter, Landlord will obtain fixed price bids for the expansion from Wieland Davco and other contractors
acceptable to Landlord and Tenant. If Tenant approves in writing a bid for this expansion, then Landlord shall complete or cause
the selected contractor to complete the expansion in good and workmanlike manner, in accordance with all laws, codes, and ordinances,
and in accordance with the plans and specifications provided by Tenant as promptly as practical. The cost of the expansion as reflected
in the approved bid and any additions to the bid approved in writing by Tenant and Landlord shall be paid by Landlord. Landlord’s
payment shall be amortized as Additional Rent to be paid by Tenant as Additional Rent together with Base Rent in equal monthly
installments over the remaining Lease Term, together with the interest on the unpaid balance thereof at seven percent (7.0%) per
annum, commencing upon issuance of a certificate of occupancy for the expansion space. If Landlord is unwilling or fails to complete
the expansion as herein provided, then Tenant’s sole remedy therefor shall be to terminate this Lease upon ninety (90) days
prior written notice to Landlord, with such notice to be effective to be provided Landlord by no later than the thirty-sixth (36th)
month of the Lease Term.

 

    	 	12	 

     

    

 

		14.	SURRENDER.

 

		A.	Delivery
of Possession. Tenant shall, on the Expiration Date of the Lease Term, or upon any earlier termination of this Lease, or
upon any termination of Tenant’s right to possess the Premises pursuant to the provisions of this Lease, surrender and deliver
up the Premises into the possession and use of Landlord without fraud or delay and in the condition at the time of occupancy, normal
wear and tear excepted, broom clean and free of all debris and hazardous or toxic materials not present on the Commencement Date,
and free and clear of all lettings, occupancies, liens and encumbrances, created by or through Tenant.

 

		B.	Holding
Over. If Tenant holds over in the Premises after the expiration of the Lease Term or any earlier termination of this Lease
or of Tenant’s right to possess the Premises in violation of the Lease, then at Landlord’s option, and without limitation
to any right or remedy of Landlord with respect to such holding over, such holding over shall create a tenancy from month-to-month
only, subject to Tenant’s obligation to pay Rent equal to one hundred twenty-five percent (125%) of the monthly Base Rent
in effect immediately prior to such expiration or termination (as well as any Additional Rent), and subject to all the provisions
and conditions of this Lease, other than provisions relating to length of Lease Term, which tenancy may be terminated at any time
by Landlord giving notice thereof to Tenant. Landlord’s acceptance of any such rental during the period of Tenant’s
holding over shall not waive or otherwise affect any claim or right which Landlord may have with respect to such holding over.

 

		C.	Removal
of Personal Property. Any and all personal property, machinery, and equipment furnished or installed by or at the expense
of Tenant which does not constitute part of the Premises shall be removed by Tenant and all damage to the Premises caused by such
removal repaired by Tenant prior to the expiration or earlier termination of the Lease Term or the termination of Tenant’s
right to possess the Premises.

 

		D.	Retention of Personal
                                         Property.
                                         Any personal property, machinery, or equipment of Tenant which shall remain on the Premises
                                         after the expiration of the Lease Term or earlier termination of this Lease or Tenant’s
                                         right to possess the Premises may, at the option of Landlord, be deemed to have been
                                         abandoned by Tenant and may be retained by Landlord as Landlord’s property or be
                                         disposed of, without liability to Landlord, in such manner as Landlord may see fit, or
                                         Landlord, at its option, may require Tenant to remove the same at Tenant’s expense.
                                         In case of such removal, all costs of removal and of repairing any damage to the Premises
                                         arising from such removal shall be paid by Tenant upon Landlord’s demand. Tenant
                                         shall pay to Landlord on demand (1) a reasonable fee for storing and disposing of any
                                         such personal property, and (2) all costs and expenses incurred by Landlord in storing
                                         and disposing of any such personal property (including, without limitation, counsel fees
                                         relating to claims against Landlord by any and all parties claiming interests in such
                                         personal property).

 

15.
   RIGHT TO MORTGAGE. Landlord
reserves the right to subject and subordinate the Lease to the lien of any mortgage or security interest now or hereafter placed
upon Landlord’s interest in all or any part of the Premises and upon the land, buildings, and fixtures of which the Premises are
a part or upon any buildings hereafter placed upon the land of which the Premises form a part. Tenant covenants and agrees to execute
and deliver upon demand such further instruments subordinating this Lease to the lien of any present or future mortgage or security
interest or other lien as shall be desired by Landlord. In exchange for any such subordination, and as a condition thereof, Landlord
will be required to provide a customary non-disturbance agreement from any existing lienholder providing that Tenant’s rights,
interests, and possession under this Lease will not be disturbed so long as Tenant is not in default of this Lease.

 

    	 	13	 

     

    

 

16.
   ESTOPPEL CERTIFICATES.
Tenant agrees, at any time and from time to time upon not less
than fifteen (15) days’ prior written notice by Landlord, to execute, acknowledge and deliver to Landlord a statement in
writing certifying to the best of Tenant’s actual knowledge after reasonable investigation: (1) that this Lease is unmodified
and in full force and effect (or if there have been modifications, that the same is in full force and effect as modified and stating
the modifications); (2) whether there are then existing any offsets or defenses against the enforcement of any of the terms, covenants
or conditions hereof upon the part of Landlord or Tenant to be performed (and if so, specifying the same); and (3) the dates to
which the Rent and other charges have been paid in advance, if any, it being intended that any such statement delivered pursuant
to this Section may be relied upon by any prospective purchaser of the Premises. Should either party comply with a request by the
other to provide an Estoppel Certificate on the requesting party’s behalf, such compliance shall not estop the complying party
from thereafter asserting its rights and remedies regarding any default existing on or before the date on which it executes such
Estoppel Certificate of which it did not have actual knowledge on the date of execution thereof.

 

		17.	MAINTENANCE
AND REPAIRS.

 

		A.	Utilities.
Tenant shall promptly pay all charges for utilities and other services furnished to the Premises by Landlord or the applicable
utility company, including, but not limited to, gas, water, electricity, fuel, light, heat, and dumpster service. In the event
any utilities furnished to the Premises are not separately metered, Tenant shall pay to Landlord, as Additional Rent, Tenant’s
pro-rata share of the utilities.

 

		B.	Cleaning
and Upkeep. Tenant shall keep the Premises, including any adjoining parking areas, walkways, drives, streets, alleys or
yards clean and free of rubbish. If Tenant fails to do so, Landlord’s cost to have it done will be added to Tenant’s CAM
Charges.

 

		C.	Grounds
Maintenance. Tenant shall be responsible for all costs and expenses related to maintaining the lawn, shrubs, and any other
landscaping on the Premises up to the standard which Landlord has historically maintained. Cost will be included in Tenant’s
CAM Charges.

 

		D.	Snowplowing.
Tenant shall be responsible for all costs and expenses for keeping the Premises free from ice and snow at all times. Cost will
be included in Tenant’s CAM Charges.

 

		E.	Landlord’s
Right of Entry. Landlord shall have the right to enter upon the Premises at all reasonable hours, with reasonable prior
notice, for the purpose of inspection and repairs, except in case of emergency in which case no notice shall be required.

 

		F.	Repairs
by Landlord. Except as otherwise provided herein, Tenant accepts the Premises in their condition at Lease commencement
and as suited for the uses intended by Tenant. Landlord shall deliver the Premises to Tenant on the Commencement Date with all
building systems, equipment, and fixtures in good working order and condition. Except as otherwise expressly provided in this Lease,
Landlord shall not be required to make any repairs or improvements to the Premises, except repairs to the foundation, structural
components, exterior walls or roof of the Building as necessary for safety and tenantability, all of which shall be Landlord’s
responsibility to repair and maintain at Landlord’s sole cost and expense if the need for repair is not brought about by
any act or neglect of Tenant, its agents, employees, contractors, invitees, licensees or assignees. Without limiting the generality
of the foregoing limitation, Landlord specifically shall have no obligation to repair any interior or exterior glass or doors (including
loading doors) located in or on or constituting a part of the Premises, nor shall Landlord have any obligation to maintain exterior
lighting.

 

    	 	14	 

     

    

 

Notwithstanding
the foregoing limitations on Landlord’s repair obligations, during the first year of the initial Lease Term only, Landlord
shall be obligated to promptly correct any defects in material or workmanship throughout the Premises and repair any building systems,
equipment, and fixtures which were not in good working order and condition as of the Commencement Date.

 

		G.	Repairs by
                                         Tenant. Tenant
                                         shall repair, maintain, replace as necessary, and keep in good, clean, and safe repair
                                         all portions of the Premises and all equipment, fixtures, and systems therein which are
                                         not specifically set forth as the responsibility of Landlord elsewhere in this Lease,
                                         ordinary wear and tear, damage by the elements, and casualty excepted. Tenant’s
                                         repairs and replacements shall include, without limitation, all electrical, plumbing,
                                         heating and air conditioning systems, parts, components, and fixtures. In connection
                                         therewith, Tenant shall maintain in force at all times a maintenance contract for the
                                         heating, ventilation and air conditioning equipment: (1) reasonably acceptable in form
                                         and content to Landlord; (2) with a service organization reasonably acceptable to Landlord;
                                         and (3) providing for at least semi-annual maintenance of such equipment, and shall provide
                                         Landlord with a true copy of such maintenance contract. Tenant shall also promptly repair
                                         or replace all partitions and all glass and plate glass within or constituting a part
                                         of the Premises immediately when cracked or broken, unless caused by Landlord or Landlord’s
                                         employees or agents, and Tenant shall be liable for and shall hold Landlord harmless
                                         against all loss, cost, and damage (including reasonable attorneys’ fees) arising
                                         from any damage or injury to the Premises or the Park or to any person or property caused
                                         or contributed to by any act or negligence of Tenant, any invitee, agent, affiliate,
                                         customer or client of Tenant or anyone in Tenant’s control or
                                         employ. Landlord gives to Tenant exclusive control of the Premises and shall be
                                         under no obligation to inspect the Premises. Tenant shall promptly report in writing
                                         to Landlord any defective conditions on the Premises known to Tenant which Landlord is
                                         required to repair, and failure to promptly report such defects after Tenant knows of
                                         the defective conditions shall make Tenant liable to Landlord for any liability incurred
                                         by Landlord by reason of such defects, and Tenant indemnifies and holds Landlord harmless
                                         from and against all loss, costs and damage (including reasonable attorneys’ fees)
                                         arising from or related to Tenant’s failure to so report such defective conditions.
                                         In no event shall Tenant cause or allow any outside storage of trash, refuse, debris,
                                         or anything else on the Premises. All personal property of Tenant or Tenant’s employees,
                                         agents, affiliates or invitees located in or brought upon the Premises or any part of
                                         the Park shall be at risk of Tenant only, and Landlord shall not be liable to Tenant
                                         or any other party for any damage thereto or theft thereof resulting from any cause other
                                         than the willful negligence or intentional misconduct of Landlord, its officers, employees,
                                         or agents.

 

If
Tenant does not comply with this Section, Landlord shall have the right to do or cause to be done all acts necessary to bring Tenant
into compliance and bill Tenant for all costs involved.

 

Tenant
shall obtain all necessary governmental permits before making any renovations, improvements, alterations or additions to the Premises.
Landlord agrees to cooperate with Tenant in obtaining such permits. However, Landlord shall have no obligation to pay any fees
or charges in connection therewith.

 

    	 	15	 

     

    

 

		H.	Liens.
If a mechanic’s or construction lien is filed against any portion of the Premises or Park as a result of work undertaken by
Tenant, then within thirty (30) days after receiving notice of any such lien, Tenant shall discharge the lien either by payment
of the indebtedness due lien claimant or by filing a bond as provided by statute.

 

If
Tenant fails to discharge any lien in accordance with the terms hereof, Landlord shall have the right to discharge the Hen by filing
a bond or paying the indebtedness. In this event, Tenant shall pay the cost of the bond or the amount of the lien indebtedness
to Landlord as Additional Rent immediately upon demand. If Tenant does not do so within ten (10) days of demand by Landlord, then
Tenant shall be in default under this Lease and Landlord shall have the same remedies as provided for in Section 9.

 

		18.	DAMAGE
OR DESTRUCTION.

 

		A.	If the Premises
are rendered partially or wholly unfit for occupancy by fire, the elements, act of God, or other casualty (fire, the elements,
acts of God, or other casualties hereinafter referred to as a “Casualty”), and if such damage cannot, in Landlord’s
reasonable estimation, be materially restored within one hundred eighty (180) days after such Casualty, then Landlord may, at its
sole option, terminate this Lease as of the date of such Casualty and the Lease Term shall end on such date as if that date had
been originally fixed in this Lease for the expiration of the Lease Term. Landlord shall exercise its election to terminate provided
herein by written notice to Tenant as soon as practical and in any event within sixty (60) days after such Casualty. For purposes
hereof, the Premises shall be deemed “materially restored” if they are in such condition as would not prevent or materially
interfere with Tenant’s use of the Premises for the purpose for which it was then being used.

 

		B.	If this Lease
is not terminated pursuant to Subsection A above, then Landlord shall proceed with all due diligence to repair and restore the
Premises using the proceeds of insurance which shall be made available by Tenant, as the case may be (except that Landlord may
elect not to rebuild, and thus terminate this Lease, if such Casualty occurs during the last year of the Lease Term exclusive of
any renewal or extension option that is unexercised at the date of such Casualty). If Landlord shall fail to complete such repairs
and material restoration within one hundred eighty (180) days after the date of the Casualty, then Tenant may at its option and
as its sole remedy terminate this Lease by delivering written notice to Landlord, whereupon the Lease shall end on the date of
such notice as if the date of such notice were the date originally fixed in this Lease for the expiration of the Lease Term hereof;
provided, however, that if construction is delayed because of changes, deletions, or additions in construction requested by Tenant,
or because of strikes, lockouts, casualties, acts of God, war, material or labor shortages, governmental regulation or control,
or other causes beyond the reasonable control of Landlord, then the period for restoration, repair or rebuilding shall be extended
for the amount of time Landlord is so delayed. In no event shall Landlord be required to rebuild, repair or replace any part of
the partitions, fixtures, additions, or other property and improvements that may have been placed in or about the Premises by Tenant,
provided that Tenant shall be entitled to rebuild, repair, or replace said items using the proceeds of any insurance available
therefor.

 

		C.	If this Lease
shall not be terminated by Landlord pursuant to this Section 18 and if the Premises are unfit for occupancy in whole or in part
following such Casualty, then the Base Rent payable during the period in which the Premises are unfit for occupancy shall abate
in proportion to the percentage of the rentable area of the Premises rendered unusable by such Casualty; provided, however, that
no such abatement shall be made under the provisions of this Subsection C if such Casualty shall have been caused through the negligence
or willful misconduct of Tenant, its agents, employees, contractors, invitees, licensees, tenants, or assignees.

 

    	 	16	 

     

    

 

		D.	Notwithstanding
anything herein to the contrary, if, following any Casualty, the holder of any indebtedness secured by a mortgage or deed to secure
debt or similar instrument covering the Premises requires that any insurance proceeds resulting from the Casualty be paid to it
rather than to Landlord for the rebuilding or restoration of the Premises, then Landlord shall have the right to terminate this
Lease by delivering written notice of termination to Tenant within fifteen (15) days after such requirement is made by any such
person, whereupon the Lease shall end on the date of the Casualty as if the date of such Casualty were the date originally fixed
in this Lease for the expiration of the Lease Term.

 

		E.	If any Casualty
described in this subsection occurs, then Landlord shall not be liable to Tenant for any inconvenience, annoyance, loss of profits,
expenses, or any other type of injury or damage resulting from the repair of any such Casualty, or from any repair, modification,
arranging or rearranging of any portion of the Premises or for termination of this Lease as provided in this subsection, except
to the extent of any bodily injury to persons or damage to property resulting solely from Landlord’s negligence or intentional
misconduct in performing such work.

 

		19.	CONDEMNATION.

 

		A.	Total Taking.
In the event that the whole of the Premises shall be taken under the exercise of the power of eminent domain or by agreement
with any condemnor in lieu of such taking, including but not limited to a temporary taking of the Premises for a period in excess
of six (6) months (all of the foregoing herein called a “Total Taking”), then this Lease shall terminate as of the
earlier of the date when title thereto vests in the condemnor or the date when possession thereof shall be delivered to the condemnor.

 

		B.	Award on
Total Taking. The entire award with respect to any Total Taking shall be paid to Landlord, except that Tenant shall be
entitled to any award which the condemnor may make, and which shall be provided for by law, specifically for Tenant’s improvements,
moving expenses and business dislocation damages, provided that same are not deducted from the award otherwise payable to Landlord.

 

		C.	Partial
Taking. In the event that any portion or portions of the Premises
shall be taken under the exercise of the power of eminent domain or by agreement with
any condemnor in lieu of such taking (herein called a “Partial Taking”), then this Lease, only as to the portion or
portions so taken, shall terminate as of the date possession thereof shall be delivered to
the condemnor; provided, however, if as a result of such Partial Taking, it is economically unfeasible to reconstruct or operate
for Tenant’s business the remaining portion of the Premises because of the insufficiency in size of the remaining portion
of the Premises or Tenant’s ability to access the Premises is severely reduced, and Tenant so certifies to Landlord, then
(1) this Lease shall terminate thirty (30) days from the date possession of the part taken shall be delivered to the condemnor,
and (2) such Partial Taking shall be deemed to be and treated as a Total Taking.

 

		D.	Reconstruction.
If during the Lease Term there shall be a Partial Taking, and if this Lease shall not be terminated on account thereof pursuant
to the provisions of the immediately preceding Subsection C, then (1) Landlord shall repair and restore the remaining portion of
the Premises so that they constitute architectural units with the same general character and condition to the nearest extent possible
under the circumstances as the previous Premises, and (2) this Lease shall remain in full force and effect with respect to such
remaining portion of the Premises. Landlord shall use its best efforts to complete the reconstruction promptly and within the period
mutually agreed upon by the parties.

 

    	 	17	 

     

    

 

		E.	Award on
Partial Taking. The entire award with respect to any Partial Taking shall be paid to Landlord, excluding however any award
for Tenant’s improvements and business interruption.

 

		F.	Temporary
Taking. In the event a taking or condemnation of the Premises, or any part thereof, shall be for temporary use or occupancy
not exceeding a period of six (6) months, then: (1) this Lease and all Tenant’s obligations hereunder shall continue in full
force and effect (except to the extent that performance by Tenant of Tenant’s covenants and agreements is prevented by such
taking); (2) there shall be no reduction or abatement of Rent; (3) Tenant shall be entitled to the entire award with respect to
any such taking, except that Landlord shall be entitled to any portion of such award allocable to any period of time beyond the
expiration of the Term of this Lease; and (4) the rights of Landlord and Tenant shall be unaffected by the other provisions of
this Article and shall be governed by applicable law or Tenant shall have the option to terminate the Lease with no further liability
to Landlord.

 

		G.	Settlement
Agreement. For the purposes of this Lease, all amounts paid pursuant to an agreement with any condemnor in settlement of
any condemnation or any eminent domain proceeding affecting the Premises shall be deemed to constitute an award made in such proceeding.

 

		H.	Abatement
in Base Rent. In a case of a Partial Taking which does not result in a termination of this Lease, the annual Base Rent
payable under this Lease, after possession of the portion so taken shall be delivered to the condemnor, shall be reduced in the
same proportion as the amount of usable floor area of the Premises shall have been reduced by such Taking, but any such Partial
Taking shall not relieve Tenant from Tenant’s liability to pay the full Additional Rent payable under this Lease, or from
any of Tenant’s other obligations hereunder, and except as herein expressly provided.

 

		20.	LIABILITY;
INDEMNIFICATION OF LANDLORD AND TENANT.

 

		A.	Damage
in General. Tenant agrees that Landlord, and its officers, employees and agents and those of all affiliated legal entities
shall not be liable to Tenant, and Tenant hereby releases said parties, for any loss, injury, death, or damage (including incidental
or consequential damages) to persons, property, or Tenant’s business from any cause whatsoever, unless such damage, loss
or injury results from the negligence or willful misconduct of Landlord, or its officers, employees or agents. Landlord and its
officers, employees, and agents shall not be liable to Tenant for any such damage or loss, whether or not such damage or loss results
from the negligence or willful misconduct, to the extent Tenant is compensated therefore by Tenant’s insurance.

 

		B.	Indemnification
of Landlord. Tenant agrees to defend with counsel reasonably satisfactory to Landlord, indemnify and save harmless Landlord
from and against any and all liabilities, claims, damages, losses, cost and expenses, including without limitation attorneys’
fees, suffered or incurred by Landlord with respect to: (1) Tenant’s conduct, operation or management of the Premises, or
any work, act or thing whatsoever by Tenant done in, on or about the Premises; (2) any condition of the Premises, resulting by
reason of Tenant’s failure or refusal to perform its obligations under this Lease; (3) any breach or default on the part
of Tenant in the observance or performance of any of its agreements or obligations hereunder; (4) any act or omission of Tenant
or any sublessee or Assignee of Tenant or any of Tenant’s or such sublessee’s or Assignee’s agents, contractors,
servants, employees, business invitees, licensees, visitors or guests with respect to the Premises and/or Park; and (5) any accident,
injury to or death of any person or damage to any property caused by Tenant or its officers, employees, agents, contractors or
invitees in or on the Premises. Landlord shall give prompt written notice to Tenant of any claim asserted against Landlord which,
if sustained, may result in liability of Tenant hereunder, but failure on the part of Landlord to give such notice shall not relieve
Tenant from Tenant’s obligation to defend, indemnify and save harmless Landlord as stated, except to the extent that the
failure to give such notice results in actual loss or damage to Tenant.

 

    	 	18	 

     

    

 

		C.	Indemnification
of Tenant. Landlord agrees to defend with counsel reasonably satisfactory to Tenant, indemnify and save harmless Tenant
from and against any and all claims, damages, losses, cost and expenses, including without limitation attorneys’ fees, suffered
or incurred by Tenant as the result of any accident, injury to or death of any person or damage to any property to the extent caused
in or about the Premises by the negligence or willful misconduct of Landlord or Landlord’s employees, servants, licensees,
or its agents. Tenant shall give prompt written notice to Landlord of any claim against Tenant which, if sustained, may result
in liability of Landlord hereunder, but Tenant’s failure to give such notice shall not relieve Landlord from Landlord’s
obligation to defend, indemnify and save harmless Tenant as stated, except to the extent that the failure to give such notice results
in actual loss or damage to Landlord.

 

		21.	MISCELLANEOUS
PROVISIONS.

 

		A.	Governing
Law. This Lease shall be construed and interpreted under the laws of the State of Michigan applicable to contracts made
and fully performed within the state.

 

		B.	References.
All references made and pronouns used herein shall be construed in the singular or plural, and in such gender as the sense
and circumstances require. All references to Section or paragraph numbers or letters shall refer to sections or paragraphs of this
Lease unless otherwise indicated.

 

The
headings inserted in this Lease are for reference purposes only and shall in no way affect the construction of this Lease or limit
the generality of any of its provisions.

 

		C.	Binding
                                         Effect. The terms and conditions of this Lease shall also bind the respective
                                         heirs, successors, personal representatives and assigns of the parties.

 

		D.	Entire
Agreement. Except for the documents listed below, if any, this Lease constitutes the entire agreement between the parties
and shall be deemed to supersede and cancel any other agreement between the parties relating to the transaction herein contemplated.
None of the prior and contemporaneous negotiations, preliminary drafts or prior versions of this Lease containing conditions not
set forth herein shall be used by any of the parties to construe or affect the validity of this Agreement. Each party acknowledges
that no representation, inducement or condition not set forth herein has been made or relied upon by either party.

 

		E.	Enforceability
of Provisions. In case any provision of this Lease or any agreement or instrument executed in connection herewith shall
be deemed invalid, illegal or unenforceable, such provision shall be enforced to the fullest extent permitted by applicable law
and the validity of the remaining provisions hereof shall not in any way be affected.

 

    	 	19	 

     

    

 

This
Lease shall not be construed more strictly against one party as opposed to the other, merely because it may have been prepared
by counsel for one of the parties. It is recognized that both Landlord and Tenant have contributed substantially and materially
to the preparation of this Lease. Except as specifically provided to the contrary in this Agreement, any approval required by the
terms of this Agreeement to be provided by either party shall not be unreasonably withheld, conditioned, or delayed.

 

		F.	Remedies
Not Exclusive. All of the rights, remedies and benefits provided by this Lease shall be cumulative and shall not be exclusive
of any other rights, remedies, and benefits allowed by law. One or more waivers of any covenant or condition by a party shall not
be construed as a waiver of a further breach of the same or any other covenant or condition.

 

		G.	Landlord’s
Right to Tenant’s Financial Information. Landlord reserves the right to require Tenant to submit annual financial
information including but not limited to financial statements and other relevant records. Tenant shall supply Landlord with the
requested information within ten (10) business days of receipt of the request unless otherwise agreed upon. Any financial information
provided by Tenant which is not publicly available and is conspicuously marked “Confidential” by Tenant shall be kept
confidential by Landlord and may be disclosed by Landlord only to Landlord’s lender or to a prospective purchaser of Landlord,
the Park, or the Premises under similar conditions of confidentiality.

 

		H.	Re-Leasing.
                                         Tenant agrees that for a period commencing six (6) months prior to the termination
                                         of this Lease, upon reasonable advance notice to Tenant Landlord may show the Premises
                                         to prospective tenants. Landlord may list the Premises for lease or rent with a broker
                                         and may display in and about the Premises the usual and ordinary signs during the last
                                         six (6) months of the Lease Term.

 

		I.	Advertising and Signs. All signs and advertising
displayed on and about the Premises shall only advertise the business carried on upon the Premises. Landlord shall control the
character and size of all signs and no sign shall be displayed except those approved in writing by Landlord, provided that Landlord
shall permit Tenant to install signage in any existing pylon or road sign, building sign, or other existing sign on the Premises.

 

		J.	Quiet Eniovment. Landlord covenants that Tenant,
upon payment of all the Rent and Additional Rent due under this Lease, and performance of the covenants and obligations under this
Lease or otherwise, may peacefully and quietly occupy the Premises for the term of this Lease including any written extensions
or modifications of same.

 

		K.	Sale by Landlord. In the event of any sale,
conveyance, transfer, or assignment by Landlord of its interest in and to the Premises, all obligations under this Lease of the
party selling, conveying, transferring, assigning or otherwise disposing shall cease and terminate and Tenant releases said party
from same, and Tenant shall thereafter look only and solely to the party to whom or which the Premises were sold, conveyed, transferred,
assigned or otherwise disposed of for performance of all of Landlord’s duties and obligations under this Lease from and after
the date of such sale, conveyance, transfer, assignment, or disposal.

 

		L.	Limitation of Liability. Landlord’s obligation
and liability to Tenant with respect to this Lease shall be limited solely to Landlord’s interest in the Premises, and neither
Landlord, nor any joint venturer, partner, officer, director or shareholder of Landlord or its affiliated legal entities or any
of the joint venturers of Landlord shall have any liability whatsoever with respect to this Lease.

 

    	 	20	 

     

    

 

		M.	Authority. Each party executing this Lease
warrants that it has full power, authority and legal right to execute and deliver this Lease, and to keep and observe all of the
terms and provisions of this Lease on such party’s part to be observed and performed. Each party warrants that this Lease
is its valid and enforceable obligation.

 

		N.	No Liability for Curtailment, Etc.. of Services.
Landlord shall not be liable in damages or otherwise and Tenant waives any claim for the curtailment, delay, or failure in
furnishing any services hereunder from any cause whatsoever, except where such curtailment, delay or failure is caused by Landlord’s
willful negligence or misconduct. In no event will Landlord have any liability for any consequential, incidental, or special damages
in connection with furnishing services pursuant to this Lease, nor shall any curtailment, delay, or failure in providing services,
regardless of cause, constitute an eviction of Tenant or termination of this Lease. Landlord shall use reasonable efforts to restore
promptly the curtailed, delayed or failed service.

 

		O.	Survival. All agreements and obligations of
a party hereunder which require observance or performance after the expiration or termination of this Lease, or which cannot reasonably
be ascertained as having been observed or performed at the time of such expiration or termination, shall survive, and be enforceable
against said party following such expiration or termination.

 

		P.	Notices. Whenever a provision is made for notice
of any kind, it shall be served in writing and shall be deemed to have been given (a) when delivered if given in person or by a
courier service, (b) on the date of transmission if sent by telex, facsimile, e-mail, or other electronic transmission or (c) three
(3) business days after being deposited in the U.S. mail, certified or registered mail postage prepaid, at the addresses listed
below or such other addresses as the parties may indicate for themselves by written notice delivered in like manner.

 

	If to Landlord:	
        DART
        CONTAINER OF MICHIGAN LLC

        500
        Hogsback Road

        Treasury
        Department

        Mason,
        Michigan 48854-9541

        ATTN:
                Steve A. Mills

	 	 
	If to Tenant:	
        XG
        SCIENCES, INC.

        3101
        Grand Oak Drive

        Lansing, Michigan 48911

        ATTN:    Michael R. Knox

        Title:     Chief Executive Officer

 

		Q.	Certificate of Occupancy. Upon Tenant’s
written request, Landlord shall provide Tenant with a Certificate of Occupancy issued by the appropriate municipal authority.

 

    	 	21	 

     

    

 

This lease is signed
and made effective as of the date first written above.

 

	 	LANDLORD:
	 	DART CONTAINER OF MICHIGAN LLC
	 	 	 
	Dated: 6/27, 2011	BY:	/s/ Kevin M. Fox 
	 	 	Kevin M. Fox 
	 	ITS:	Authorized Signatory

 

	 	TENANT:
	 	XG SCIENCES. INC. BY:
	 	 	 
	Dated: 6-11, 2011	BY:	/s/ Michael R. Knox
	 	 	Michael R. Knox
	 	 	 
	 	ITS:	 
	 	 	Chief Executive Officer

 

    	 	22	 

     

    

 

EXHIBIT
A

 

PERMITTED
MATERIALS

 

Tenant’s
list of hazardous and toxic materials and wastes required to be disclosed under Section 12 of the Lease.

 

	 	
        LANDLORD:

        DART
        CONTAINER OF MICHIGAN LLC

	 	 	 
	Dated: 6/27, 2011	BY:	/s/ Kevin M. Fox
	 	 	Kevin M. Fox 
	 	ITS:	Authorized Signatory
	 	 
	 	
        TENANT:

        XG
        SCIENCES, INC.

	 	 	 
	Dated: ____________, 2011	BY:	 
	 	 	Michael R. Knox
	 	 	 
	 	ITS:	 
	 	 	Chief Executive Officer

 

    	 	A-1	 

     

    

 

EXHIBIT
B

 

RULES
AND REGULATIONS

 

		1.	Control
of Common Areas. Landlord shall have the right to control and operate the Common Areas of the Park in such manner as it
deems best for the benefit of the tenants generally. No tenant shall invite to the Premises, or permit the visit of persons in
such numbers or under such conditions as to interfere with the use and enjoyment of the entrances, corridors, facilities, and other
Common Areas of the Park by other tenants.

 

		2.	Observance
of Rules. Landlord reserves the right to exclude or expel from the Park any person who, in the judgment of Landlord, is
intoxicated or under the influence of liquor or drugs, or who shall in any manner do any act in violation of any of the Rules and
Regulations of the Park or in violation of any law, order, ordinance, or governmental regulation.

 

		3.	No
                                         Obstruction. The entries, exits, corridors, stairways and elevators shall not
                                         be blocked, obstructed, or interfered with in any way by any tenant, or used for any
                                         other purpose than ingress or egress to and from its respective offices. Nor shall tenant
                                         block, obstruct, or interfere with in any way sprinklers, fire extinguishers, or other
                                         fire control equipment, or any electrical, mechanical or other building systems located
                                         on the Premises or on the Park. Tenant shall not bring into or keep within the Premises
                                         any animal or motor vehicle unless prior arrangements have been made with the Landlord.

 

		4.	Security
of Premises. All entrance doors on the Premises shall be kept locked when the Premises are not in use.

 

		5.	Locks.
No additional locks shall be placed on the doors of the Premises by Tenant nor shall any existing locks be changed unless Landlord
is immediately furnished with two keys for each lock on the entrance doors when Tenant assumes possession, with the understanding
that at the termination or expiration of the Lease Term the keys shall be returned.

 

		6.	No Soliciting.
Canvassing, soliciting, or peddling in the Park is prohibited and each tenant shall cooperate to prevent the same.

 

		7.	No Advertising.
Tenant shall not advertise the business, profession or activities of Tenant in any manner which violates the letter or spirit
of any code of ethics adopted by any recognized association or organization pertaining thereto or use the name of the Park for
any purpose other than that of the business address of Tenant.

 

		8.	Proper
Use of Facilities. The drinking fountains, lavatories, water closets, and urinals shall not be used for any purpose other
than those for which they were installed.

 

		9.	Load Limits
on Floors. Tenant shall not place a load upon any floor of the Premises which exceeds the floor load per square foot which
such floor was designed to carry and is allowed by law. Landlord reserves the right to prescribe the weight and position of all
heavy installations which Tenant wishes to place in the Premises so as to distribute properly the weight thereof.

 

		10.	Machinery
                                         and Equipment. Machinery and equipment used by Tenant on the Premises which cause
                                         noise and/or vibration that may be transmitted to the structure of the Premises or to
                                         other portions of the Park to such a degree as to be reasonably objectionable to Landlord
                                         or other Tenants shall be placed and maintained by Tenant, at Tenant’s expense,
                                         in settings of cork, rubber, or spring-type noise and/or vibration eliminators sufficient
                                         to reduce such noise and/or vibration to reasonably unobjectionable levels.

 

    	 	B-1	 

     

    

 

		11.	Moving
of Equipment. Tenant shall move all heavy equipment in and out of the Building and/or Park in compliance with all applicable
governmental laws, rules or regulations and the structural design of the Building.

 

		12.	Replacement
of Broken Glass. Tenant shall replace, at Tenant’s expense, any and all broken glass, including glass partitions
and doors, if any, in the Premises.

 

		13.	No Hazardous
Materials. Tenant’s operations shall not include the manufacture, use and/or storage of flammable or explosive materials
or substances, and explosive devices, unless same are maintained, used, and stored in accordance with applicable laws and Section
12 of the Lease. Tenant shall conduct its operations so as to avoid hazards associated with flammable or explosive materials or
any other toxic or hazardous material or activity, unless same are maintained, used, and stored in accordance with applicable laws
and Section 12 of the Lease.

 

		14.	Good Housekeeping.
Tenant shall observe good housekeeping and keep the Premises reasonably clean and neat at all times, and free of pest or vermin
of any kind.

 

		15.	Landlord
Not Liable. Landlord is not responsible to any tenant for the non-observance or violation of the Rules and Regulations
by any other tenant.

 

		16.	Modifications
to Rules and Regulations. Landlord reserves the right by written notice to Tenant to rescind, amend, alter or waive any
rule or regulation at any time prescribed for the Park when, in Landlord’s judgment, it is necessary, desirable or proper
for the best interest of the Park and its tenants, provided that such rescissions, amendments, alterations, or waivers may not
be unreasonable when applied to Tenant or may not unreasonably restrict Tenant’s use of the Premises for the purpose described
in Section 7 of the Lease.

 

		17.	Drives
and Parking Areas. All parking shall be within the Premises boundaries and within marked parking spaces. At no time shall
Tenant obstruct drives and loading areas intended for the use of all tenants. The drives and parking areas are for the joint and
non-exclusive use of Landlord’s tenants, and their agents, customers and invitees, unless specifically marked. Landlord shall
have the right to restrict Tenant, its agents, customers, and/or invitees to certain parking areas. Tenant shall not permit any
fleet trucks to park overnight in the Building’s parking areas.

 

		18.	Storage
and Loading Areas. Unless specifically approved by Landlord in writing, no materials, supplies or equipment shall be stored
anywhere except inside the Premises. Trash receptacles may not be placed in the service area except as otherwise approved by Landlord.

 

		19.	Contractors
and Service Maintenance. Tenant will refer all contractors, contractor’s representatives and installation technicians
rendering any service on or to the Premises for Tenant to Landlord for its approval and supervision before performance in the Building,
including, but not limited to, installation of electrical devices and attachments and installations of any nature affecting floors,
walls, woodwork, trim, windows, ceilings, equipment or any other physical portion of the Building.

 

		20.	Lodging.
Tenant shall not at any time occupy any part of the Building as sleeping or lodging quarters.

 

    	 	B-2	 

     

    

 

		21.	Exterior
                                         Installations. Tenant shall not install any radio or television antenna, satellite
                                         dish, loudspeaker, or any other device on the roof or exterior walls of the Building
                                         without Landlord’s prior written consent.

 

		22.	Waivers.
Landlord may waive any one or more of these Rules and Regulations for the benefit of any particular tenant in the Park, but
no such waiver by Landlord shall be construed as a general waiver of such Rules and Regulations or of Landlord’s right to
enforce such Rules and Regulations against Tenant or any other tenant in the Park.

 

		23.	Additions
to Lease. These Rules and Regulations are in addition to, and shall not be construed to in any way, modify or amend, in
whole or in part, the terms, covenants, agreements, and conditions of the Lease or any other lease of premises. In the event of
any conflict or inconsistencies between these Rules and Regulations and the Lease, the terms of the Lease shall control.

 

		24.	Access
to Roof. Neither Tenant nor any employee, contractor or invitee of Tenant shall go upon the roof of the Building without
the prior written consent of Landlord.

 

		25.	Sales From
Premises. Tenant shall not allow a fire or bankruptcy sale or any auction to be held on the Premises or allow the Premises
to be used for the sale at retail of merchandise to the general public.

 

    	 	B-3	 

     

    

 

	 	LANDLORD:
	 	DART CONTAINER OF MICHIGAN LLC
	 	 	 
	Dated: 6/27, 2011	BY:	/s/ Kevin M. Fox 
	 	 	Kevin M. Fox 
	 	ITS: 	Authorized Signatory
	 	 
	 	
        TENANT:

        XG
        SCIENCES, INC.

	 	 	 
	Dated: 6-11, 2011	BY:	/s/ Michael R. Knox
	 	 	Michael R. Knox
	 	 	 
	 	ITS:	 
	 	 	Chief Executive Officer

 

    	 	B-4	 

     

    

 

EXHIBIT C

 

  

    	 	B-5	 

     

    

 

EXHIBIT C

 

 

    	 	B-6	 

     

    

 

EXHIBIT D

THE TI WORK

 

 

 

    	 	B-7	 

     

    

 

 

 

    	 	B-8	 

     

    

 

EXHIBIT
A

 

Lease
Agreement Dated 8/1/11 Between 

Dart
Container of Michigan LLC 

&

XG
Sciences Inc.

 

PERMITTED
MATERIALS

 

	CHEMICAL NAME	MFR./DISTRIBUTOR/BRAND
	1-Amino pyrene 97%	Sigma-Aidrich
	l-butyl-3-methylimidazolium hexafluoro phosphate	Fluka
	l-ethyl-3-methylimidazolium tetrafluoroborat	Sigma-Aldrich
	l-ethyl-3-methylimidazolium acetate	Fluka
	2,2-Azobisobutyronitrile, 98%	Sigma-Aldrich
	2-ethoxyethyl acetate	Sigma-Aldrich
	2-Ethyl-4-Methylimidazole, 95%	Sigma-Aldrich
	2-naphthol	Sigma-Aldrich
	Aceto Nitrile	Sigma-Aldrich
	Acetone	Burdick-Jackson
	Acetone	Ace Hardware
	Acetone >95%	Fisher Scientific
	Acetylene black	MTI
	Acrylic polymer emulsion Gloss Super Heavy Gel	Liquitex
	Acrylic polymer emulsion Gloss Heavy Gel	Liquitex
	Ag Nano-flake M612@ water	Tokusen
	Ag Nano-flake N300@ water	Tokusen
	Ammonia Hydroxide	Alexander Chemical
	Ammonia X-tra strength lemon	Majestic
	Ammonium Hydroxide, A.C.S reagent	Sigma-Aldrich
	Amyl Acetate	Sigma-Aldrich
	Antifouling paint bottom shield	West Marine
	Antifreeze: DOWTHERM*SR-1	Dow Chemical Company
	Aradur 956-2	Huntsman
	Araldite GY 282	Huntsman
	Araldite 6010	Huntsman
	Ascorbic acid, ACS, 99%+	Alfa-Aesar
	Barium chloride di-hydrate	Sigma-Aldrich
	Benzoyl peroxide 98%	Sigma-Aldrich

 

     

     

    

 

	Benzyl alcohol	Sigma-Aldrich
	Brilliant blue R	Sigma-Aldrich
	Buffer solution pH 7	Lab Depot
	C-13-30/R 30% HP Pt:Ru Alloy on Vulcan xc-72r	Etek
	Cadmium chloride hydrate	Sigma-Aldrich
	Calcium Carbonate GLC1006, 6μ	Great lakes calcium (GLC)
	Calcium Carbonate GLC1003, 3μ	GLC
	Calcium Carbonate GLC1012, 12μ	GLC
	CNT (carbon nano tubes) Short Double Wall 2150 90+% C purity	Nanocyl
	CNT Short DWCNT2152 90+% C purity & surface modified NH2	Nanocyl
	CNT 3100 MWNT Thin Multi Wall CNT 95+% C purity	Nanocyl
	CNT 3150 MWNT Short Thin MWCNT 95+% C purity	Nanocyl
	CNT 7000 MWNT Thin 90% C purity for industrial applications	Nanocyl
	Carbon Powder (conductive powder) (B)	spraylat
	Carbon Powder (conductive powder) (2)	spraylat
	Carboxymethyl cellulose (CMC)	MTI
	Cellulose	Sigma-Aldrich
	Chloroform	Sigma-Aldrich
	Chloroplatinic Acid hexahydrate reagent	Sigma-Aldrich
	Cobalt(II,III) oxide, powder, <10μ	Sigma-Aldrich
	Conditioner for heat exchangers	TA instruments
	conductivity standard 23μs/cm	Oakton
	Coolube 2210	Unist
	Copper Powder Interlux V900	Akzo-Nobel
	Corn oil mix 300/20/2 oil/polyester resin/CaC03	ETM
	Corn oil mix 300/2 oil/polyester resin /CaC03	ETM
	Cyclohexane	Sigma-Aldrich
	Diethylene glycol butyl ether	Sigma-Aldrich
	Dimethyl carbonate	Sigma-Aldrich
	Dimethyl Siloxane-ethylene oxide block copolymer 80% non siloxane	Gelest, Inc.
	Dimethyl Siloxane-ethylene oxide block copolymer 25% non siloxane	Gelest, Inc.
	Dimethyl Siloxane-ethylene oxide block copolymer 75% non siloxane	Gelest, Inc.
	Dimethyl Siloxane-ethylene oxide block copolymer 50-55% non siloxane	Gelest, Inc.
	Dimethyl Siloxane-ethylene oxide block copolymer 60%propylene oxide	 
	40%ethylene oxide	Gelest, Inc.
	Dodecyl benzenesulfonic acid, sodium salt tech	Sigma Aldrich
	Dow
    Corning® high vacuum grease	Sigma-Aldrich
	Dry graphite film lubricant dgf123	Miracle power productions corp.
	EB Acetate cellosolve acetate solvent thinner	spraylat
	E-caprolactam	Sigma-Aldrich
	Ethanol 200 proof	Sigma-Aldrich
	Ethyl acetate	Sigma-Aldrich
	Ethylene carbonate	Sigma-Aldrich
	Ethyl viologen dibromide	Sigma-Aldrich

 

     

     

    

 

	Ferrocene	Sigma-Aldrich
	Fullerenes MT-60-2 C-60, 99.5+%	MTR
	Graphene powder (conductive graphene) (C)	spraylat
	Graphene powder (conductive graphene) (3)	spraylat
	Graphite nano-fibers	Nanomirae
	HCL volumetric standard 2.ON solution in H20	Sigma-Aldrich
	Hexane	Sigma-Aldrich
	Hi 70300 storage solution for pH & ORP electrodes	Hanna Instruments
	Hydrofluoric Acid 37%	Sigma-Aldrich
	Hydrogen Peroxide	Arkema
	Hydrogen tetrachloro aurate (III) trihydrate 1g under Ag	Alfa-Aesar
	Interlux VC17M extra antifouling agent YBA405 original	Akzo-Nobel
	IPA	Univar
	IRON (III) OXIDE, NANOPOWDER, <50 nm	Sigma-Aldrich
	LiFeP04 powder for Li-ion battery cathode	MTI
	Lithium hexafluoro phosphate	Sigma-Aldrich
	Lubricant LN-05-118A	CLC
	Lubricant LN-05-118C	CLC
	Lubricant LN-05-118E	CLC
	Lubricant LN-05-118G	CLC
	Melamine crosslinker (4)	spraylat
	Methanol	Sigma-Aldrich
	Methylethylketone (2-Butanone)	Sigma-Aldrich
	Methylmethacralate	Sigma-Aldrich
	Methyl-siloxane-dimethyl siloxane copolymer	Gelest, Inc.
	Mold Release economy paintable (can)	Osborn
	Molybdenum (IV) sulfide purum, powder	Sigma-Aldrich
	Molybdenum (IV) sulfide powder, <2μ N, 99%	Sigma-Aldrich
	N-acetyl-caprolactan	Sigma-Aldrich
	N,N-Dimethyl formamide	Sigma-Aldrich
	Natrium-dodecylbenzol sulfonat, tech. Sodium dodecylbenzene sulfonate technical grade	Sigma-Aldrich
	N-propyl-proprionate	Eastman
	p-phenylene diamine	Sigma-Aldrich
	Palladium (II) 2,4 pentane dionate, Pd 34.7%	Alfa-Aesar
	PE LD NA345196NAT petro urethane	Ashland
	Petroleum jelly	Top care
	Phenyl Isocyanate	fluka
	pH standards 4,7 & 10	Cole-Parmer
	Platinum black	Alfa-Aesar
	Platinum (II) 2,4 -pentane dionate	Alfa-Aesar
	Platinum Ruthenium black nominally Pt50% Ru50%	Alfa-Aesar
	PMW A90-C5	nanocyl
	Polyaniline Sulfonic Acid	ADS (American Dye Source Inc.)

 

     

     

    

 

	Polyaniline water soluble ADS65 OWP packed under Argon	ADS
	Poly-3,3,3-trifluoropropyl-methyl siloxane	Gelest, Inc.
	Poly acrylonitrile	Poly sciences Inc.
	Poly Carbonate Powder	RTP Company
	Poly Carbonate Pellets	RTP Company
	Poly-diallyldimethyl ammonium chloride - solution	Sigma-Aldrich
	Poly (dimethylsiloxane), 200 fluid, visco: 1.0 CST	Sigma-Aldrich
	Poly (dimethylsiloxane), Hydroxy terminated, visco; 2,000 CST	Sigma-Aldrich
	Poly (3,4-Ethylenedioxythiophene)-Poly(Styrenesulfonate), 1.1% in H20	 
	Surfactant free (high conductivity grade)	Sigma-Aldrich
	Poly ethylene glycol	Sigma-Aldrich
	Poly Ethylene Glycol Methyl Ether	Sigma-Aldrich
	Poly Ethylene Glycol Butyl Ether	Sigma-Aldrich
	Polyethylenimine (PEI)	Sigma-Aldrich
	Poly(Methylmethacrylate) Avg. mw ca, 120,000 (GPC)	Sigma-Aldrich
	Poly Propylene Glycol Monobutyl Ether	Sigma-Aldrich
	Poly sodium 4-styrene-sulfonate 30%w.t. in water	Sigma-Aldrich
	Poly Vinyl Acetate	Sigma-Aldrich
	Poly vinyl alcohol	Sigma-Aldrich
	Poly vinyl alcohol 87-89% hydrolized	Sigma-Aldrich
	Poly (vinylbutyral-CO-vinyl alcohol-CO-Vinyl Acetate), Ave, M.W. 50k-80k	Sigma-Aldrich
	Poly vinylidene fluoride	Sigma-Aldrich
	Potassium dichromate	Sigma-Aldrich
	Potassium Hydroxide pellets 85%+, A.C.S reagent	Sigma-Aldrich
	Potassium per magnate	Sigma-Aldrich
	Potassium phosphate dibasic	Science Lab
	Propylene carbonate	Sigma-Aldrich
	Pro-set hardener M2018-1 custom epoxy part B	Pro-set
	Pump Oil	Duo Seal
	Resin (A)	spraylat
	Ruthenium (III) 2,4-pentandionate	Alfa-Aesar
	Ruthenium (III) chloride hydrate	Sigma-Aldrich
	SEC-BUTYLAMINE, 99%	Sigma-Aldrich
	SBR glue	MT1
	Shortening	Crisco
	Silicon Powder, APS l-5μ, 99.9% (metals basis)	Sigma-Aldrich
	Silver acetate reagent plus® 99%	Sigma-Aldrich
	Silver nitrate	Sigma-Aldrich
	Simple Green	Extreme
	Sodium dodecyl sulfate	Sigma-Aldrich
	Sodium hydride	Sigma-Aldrich
	Sodium hydroxide	Sigma-Aldrich
	Sodium nitrate	Sigma-Aldrich
	Sodium Tetrafluoroborate	Sigma-Aldrich

 

     

     

    

 

	Staboxol 1LF	Rhein chemie
	Staboxol
    P	Rhein chemie
	Sulfanilamide	Sigma-Aldrich
	Sulfur	Sigma-Aldrich
	Sulfuric Acid	Alexander Chemical
	Sulfuric Acid, Fuming	DuPont
	Terephthalic acid 98%	Sigma-Aldrich
	Tartaric acid, ACS	Alfa-Aesar
	Tetraethyl ammonium tetrafluoroborate	Sigma-Aldrich
	Tergitol	Sigma-Aldrich
	Tergitol Foam 1X	Dow Chemical
	Tergitol type 15-S-9, non-ionic surfactant	Sigma-Aldrich
	Tetraethyl orthosilicate	Sigma-Aldrich
	TIMREX HSAG100 (high surface area graphite)	Timcal
	TIMREX HSAG300 AE-109	Timcal
	Tin (II) 2-ethylhexanoate	Sigma-Aldrich
	Titanium isopropoxide	Gelest, Inc.
	Toluene	Sigma-Aldrich
	Triethylamine	Sigma-Aldrich
	Triethylene glycol	Fisher Scientific
	Triton 100X	Dow Chemical
	Triton X-45	Sigma-Aldrich
	Triton X-100	Sigma-Aldrich
	Triton X-100 reduced	Sigma-Aldrich
	Triton X-100 reduced	Sigma-Aldrich
	Triton X-102	Sigma-Aldrich
	Water, ultrapure, HPLC grade	Alfa-Aesar
	WD-40	WD-40 Company
	Zinc nitrate hexahydrate reagent grade 98%	Sigma-Aldrich

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