Document:

QuickLinks
 -- Click here to rapidly navigate through this document

 
 

  Exhibit 10.10    
    

 LEASE AGREEMENT  

LEASE
dated as of the 30th day of July 2007, between O'Brien Investment Partners, LLC, a limited liability company duly organized and existing under the laws of the
Commonwealth of Massachusetts with a mailing address of P.O. Box 1250 Concord, Massachusetts (hereinafter referred to as "Landlord"), and A123 Systems, a
corporation organized and existing under the laws of the State of Delaware with an address of 1 Kingsbury Avenue, Watertown, Massachusetts 02472 (hereinafter referred to as
"Tenant"). 

1.     PREMISES:  

(A)  In
consideration of the rents, agreements and conditions herein reserved and contained on the part of Tenant to be paid, performed and observed, Landlord hereby Leases to Tenant, and
Tenant hereby Leases from Landlord, for the term herein set forth, certain premises at 8-10 Avenue E., Hopkinton, Massachusetts consisting of Twenty Thousand (20,000) square
feet of floor area and having dimensions approximately as shown upon Exhibit B (hereinafter referred to as "the Demised
Premises"), situated in the Hopkinton Technology Park (hereinafter referred to as "the Industrial Park"). 

The
Demised Premises are situated upon a certain parcel of land known as Lot 9. Said parcel of land is more particularly described upon Exhibit A attached hereto and made a part hereof and is
herein referred to as "the Entire Parcel." The Demised Premises are situated within, and are a part of, a certain building shown upon Exhibit B (hereinafter referred to as "the Building") and
said Demised Premises are shown outlined by a bold line upon said Exhibit B. For purposes of this Lease, dimensions are measured from the outside of exterior walls and the center of interior
walls. It is understood and agreed that Exhibit B is intended only to show the approximate size and location of the Demised Premises, the Building and the Entire Parcel and for no other
purpose. 

(B)  The
Demised Premises are demised with the benefit of and subject to, the nonexclusive rights of Landlord, Tenant and other Tenants of the Building and the Industrial Park, and all
persons having business with any of them, to use, in common, the parking areas, electrical rooms, entrances, vestibules, traffic lanes and walkways upon the Entire Parcel for the purposes of parking
and access, on foot and by vehicles not exceeding the weight for which the same were constructed and for no other purpose, except for any exclusive areas Landlord shall reserve for the parking of
trucks specifically designated by Landlord. Landlord reserves the right, from time to time, to change the size and configuration of said parking areas, traffic lanes and walkways, and to temporarily
close all or any part thereof, to do maintenance and to prevent a dedication thereof or to prevent the accrual of any rights of any person or the public therein. 

2.     TERM:  

The
term of this Lease shall be the period of Three (3) years commencing on February 1, 2008 (hereinafter referred to as the "Commencement Date") and expiring on January 31, 2011. 

3.     MINIMUM RENT:  

For
first (1st) year of the Lease Term hereof, the Tenant shall pay Landlord rent at the rate of One Hundred Fifty Nine Thousand Two Hundred Nineteen Dollars and Eighty Four Cents
($159,219.84) per year, in equal monthly installments Thirteen Thousand Two Hundred Sixty Eight Dollars and Thirty Two Cents ($13,268.32) of which minimum rent shall be paid monthly, in advance, on
the first day of each and every calendar month during the First Year of this Lease Term. Rent for any fraction of a month of the commencement or expiration of the term of this Lease shall be prorated.
All payments of rent (minimum and additional) shall be made payable to Landlord and shall be sent to Landlord at the address hereinafter provided for the giving of notice to Landlord or to such other
person or address as Landlord shall from time to time designate by 

 

notice
to Tenant. The annual minimum rent as stated herein is calculated as the sum of the square foot rate ($6.90 per square foot × 20,000 sq. ft.) plus the
Tenant's pro rata share of the current real estate taxes ($52,135.71 × 200/603) plus the Tenant's pro rata share of the Landlord's current insurance cost
($11,842.00 × 200/603). 

4.     REAL ESTATE TAXES:  

(A)  Tenant
shall pay, as additional rent, 20,000/60,300 of the real estate taxes upon or about the Building, land, yard and improvements upon the Building for each tax year during the
term hereof in excess of Fifty Two Thousand One Hundred Thirty Five Thousand Dollars and Seventy One Cents ($52,135.71) per year and a pro rata portion thereof for each tax year, in which the term
hereof commences and terminates. Tenant shall pay the amount of such excess to Landlord, on account in equal monthly installments of one-twelfth (1/12th) the amount thereof
estimated by Landlord to be payable by Tenant on the basis of the immediately preceding tax year, payable monthly, in advance, on the first day of each and every calendar month during the term of this
Lease and a pro rata portion thereof for any fraction of a month at the commencement or termination of the term. After the close of each tax year, Landlord shall submit to Tenant a computation of the
amount actually payable by Tenant under this Section (A) for such year, and if the amount paid by Tenant for such year on account as aforesaid shall be less than the amount actually payable
therefore as computed by Landlord, then Tenant shall pay the amount of the deficiency, if any, to Landlord within ten (10) days after receipt of such computation and if the amount paid by
Tenant for such year as aforesaid shall exceed the amount actually payable therefore as computed by Landlord, then Tenant may recoup the amount of the excess by withholding such amount from the next
succeeding monthly payments due from Tenant under this Section (A) until thereby repaid in full. 

(B)  Tenant
shall pay all taxes allocable to its Leasehold interest, to its signs and other property in and/or upon the Demised Premises, and to the rentals payable under this Lease.
Tenant shall also pay all taxes allocable to any improvements made by Tenant to the Demised Premises. The expression "real estate taxes" shall include improvements, betterment assessments and all
taxes and assessments levied, assessed or imposed as a substitute therefore, or in lieu of, the whole or any part of the real estate taxes upon the Entire Parcel. 

5.     ADVANCED RENT:  

(A)  Landlord
acknowledges that it has received from Tenant the sum of Thirteen Thousand Dollars Two Hundred Sixty Eight Dollars and Thirty Two Cents ($13,268.32) as payment of the monthly
installments of the minimum rent for the first full month of the term of this Lease. 

(B)  Landlord
acknowledges that it has received from Tenant the sum Twenty Six Thousand Five Hundred Thirty Six Dollars and Sixty Four Cents ($26,536.64) as security for the payment of
rents and the performance and observance of the agreements and conditions in this Lease contained on the part of Tenant to be performed and observed. In the event of any default or defaults in such
payment, performance or observance, Landlord may, at its option and without prejudice to any other remedy which Landlord may have as result thereof, apply said sum or any part thereof towards the
curing of any such default or defaults and/or towards compensating Landlord for any loss or damage arising from any such default or defaults. Upon the yielding up of the demised premises at the
expiration or other termination of the term of this Lease, if Tenant shall not then be in default or otherwise liable to Landlord, said sum or the unapplied balance thereof shall be returned to
Tenant. It is understood and agreed that Landlord shall always have the right to apply said sum, or any part thereof, as aforesaid in the event of any such default or defaults, without prejudice to
any other remedy or remedies which Landlord may have, or Landlord may pursue any other such remedy or remedies in lieu of applying said sum or any part thereof. No interest shall 

2

 

be
payable on said sum or any part thereof. If Landlord shall apply said sum or any part thereof as aforesaid, Tenant shall, upon demand, pay to Landlord the amount so applied by Landlord, to restore
the security to its original amount. Said sum shall not be mortgaged, assigned or encumbered by Tenant without prior consent of Landlord. Whenever the holder of Landlord's interest in this Lease,
whether it be the Landlord named in this Lease or any transferee of said Landlord, immediate or remote, shall transfer its interest in this Lease, said holder may pay to its transferee said sum or the
unapplied balance thereof, and thereafter such holder shall be released from any and all liability to Tenant with respect to said sum or its application or return, it being understood and agreed that
Tenant shall thereafter look only to such transferee with respect to said sum, its application and return. 

(C)  Said
Security Deposit is held by Landlord as security for any necessary restorations of the Demised Premises upon the Tenant vacating the Demised Premises. Said Security Deposit shall
not be used as a credit for rent. If Tenant fails to pay rent for any month they occupy the Demised Premises, the Tenant shall pay Thirteen Thousand Two Hundred Sixty Eight Dollars and Thirty Two
Cents ($13,265.32) to the Landlord in addition to all other amounts due under the Lease or amendments. 

6.     PHYSICAL CONDITIONS:  

On
or before the Commencement date, Landlord shall deliver possession of the Demised Premises to Tenant in whatever "as is" condition the Demised Premises may then be in. Tenant acknowledges that the
Demised Premises, Building and Entire Parcel, and all improvements therein, have been inspected by Tenant, and are in condition acceptable to Tenant and suitable for the purposes and uses intended by
Tenant and Landlord. Landlord has made no representations or warranties whatsoever regarding the condition thereof. 

7.     UTILITIES:  

(A)  Tenant
shall pay all charges for heat, air conditioning, gas, sewer, electricity and other utilities used by the Demised Premises. Tenant shall pay 20,000/60,300 of the cost of all
water consumed in the Building and the Entire Parcel. 

(B)  Tenant
shall, from time to time, reimburse Landlord 20,000/60,300 of the cost of servicing, maintaining, quarterly monitoring of the function and condition of the sprinkler systems
and fire alarms as well as repairs, necessary upgrades and telephone charges relating thereto, servicing, maintaining, testing, operating, repairing and replacing, by some available means, the
sanitary septic sewerage system serving the Demised Premises or the cost of connecting the Demised Premises to the municipal sanitary sewer system as well as any repairs thereto within ten
(10) days after Landlord shall give Tenant notice of such cost thereof in each case. 

(C)  If
the Tenant hereunder occupies more than one (1) module within the building being Leased hereunder, it shall not combine different bays onto one (1) meter for either
electric or gas. The isolated integrity of each module must be protected and no wires will be connected from one (1) module to the next. 

8.     REPAIRS:  

(A)  Landlord
shall during the term of this Lease make all necessary repairs or alterations to the property, which Landlord is required to maintain, as hereinafter set forth. The property,
which Landlord is required to maintain, is the foundation, roof, exterior walls, structural columns and structural beams of the Demised Premises and the landscaped and parking areas upon the Entire
Parcel. Notwithstanding the foregoing, if any of said repairs or alterations shall be made necessary by reason of repairs, installations, alterations, additions or improvements made by Tenant or 

3

 

anyone
claiming under, Tenant, by reason of the fault or negligence of Tenant or anyone claiming under Tenant, by reason of a default in the performance or observance of any agreements, conditions or
other provisions on the part of Tenant to be performed or observed hereunder, by reason of any vehicles damaging the demised premises or by reason of any special use to which the Demised Premises may
be put, Tenant shall make all such repairs or alterations as may be necessary, except as otherwise required under Article 13 (A). Landlord shall not be deemed to have committed a breach of any
obligation to make repairs or alterations or perform any other act unless (i) Landlord shall have made such repairs or alterations or performed such other act negligently, or
(2) Landlord shall have received notice from Tenant designating the particular repairs or alterations needed or the other act of which there has been failure of performance and shall have
failed to make such repairs or alterations or performed such other act within a reasonable time after the receipt of such notice and in the event of a breach referred to in Clause (2) of this
sentence, Landlord's liability shall be limited to the cost of making such repairs or alterations or performing such other act. As used in this Lease, the expressions "exterior walls" and "roof" do
not include rooftop heating and/or air conditioning units serving the Demised Premises exclusively or glass, windows, doors, window sashes or frames, door frames or sign belt. 

(B)  Tenant
shall during the term of this Lease make all repairs and alterations to the property which Tenant is required to maintain and/or replace as hereinafter set forth, which may be
necessary to maintain the same in good order, repair and condition, or which may be required by any laws, ordinances, regulations or requirements of any public authorities having jurisdiction, subject
only to the provisions of Articles 13 and 14; and Tenant shall upon the expiration or other termination of the term of this Lease remove its property and that of all persons claiming under it
and shall yield up peaceably to Landlord the Demised Premises and all property therein other than property of Tenant or persons claiming under Tenant, well maintained and clean, and in good order,
repair and condition, and subject only to the provisions of Articles 13 and 14, and shall then surrender all keys for the Demised Premises and shall inform Landlord of all combinations on
locks, alarms and safes. The property which Tenant is required to maintain is the Demised Premises and every part thereof, including, but without limitation, (I) the floor slab, and all walls,
floors and ceilings, (II) the heating, ventilating and air conditioning system and all utilities (water, gas, electricity and sewerage) conduits, the sprinkler system, fixtures, meters and
equipment to the extent the same serve the Demised Premises (whether located inside or outside the Building, (III) stairways, landings, sidewalks and pedestrian traffic lanes as well as the
proper and regular sanding thereof, and (III) all glass, windows, doors, window sashes and frame and door frames. Tenant shall at all times keep in full force and effect a full (all labor and
materials included) service and maintenance contract, approved by Landlord, for the heating, ventilating, and air conditioning system of the Demised Premises. Landlord may, at its option, reserve the
right to be the contractor and bill the Tenant for the cost of these charges. Notwithstanding the foregoing, Tenant shall not be under any obligation to make repairs or alterations to the foundation,
roof, exterior walls, structural columns or structural beams of the Building, except to the extent provided in Section (A) of this Article. Tenant specifically agrees to replace all glass
damaged with glass of the same kind and quality. Tenant also shall paint, varnish and otherwise redecorate the Demised Premises when required to keep the Demised Premises in the same or similar
condition as such Demised Premises are in at the commencement of the Lease. So-called patch-paint jobs by Tenant shall be unacceptable. 

9.     OUTDOOR AREA:  

(A)  Tenant
shall, within ten (10) days after delivery to Tenant of invoices in each case, reimburse Landlord for 20,000/60,300 of the cost to Landlord of owning and maintaining the
landscaped and parking areas of the entire parcel and the sidewalks, and traffic lanes thereof, including, without limitation, insuring, mowing, raking, fertilizing, pruning, trimming, barking, and
other various 

4

 

exterior
clean up and repairs, pest and rodent prevention and extermination, replacement of light bulbs and photo cells, restriping of parking space, cleaning and repairing catch basins and
drainpipes, testing ground water and septic affluent, operating and maintaining lawn sprinklers, removing snow, ice and refuse from the parking areas, traffic lanes and sidewalks of the Entire Parcel
and the roof of the Building, and, in addition thereof, a management fee for the foregoing equal to ten percent (10%) of the cost to Landlord of the foregoing. Tenant shall immediately remove all
snow, ice and refuse from the sidewalks abutting the Demised Premises and nothing herein shall require Landlord to do any hand shoveling or hand sweeping or to use a so-called snow blower. 

(B)  Tenant
shall allow any exterior lights upon the Demised Premises to remain in operation as determined by the photo cells or timers attached thereto by Landlord. 

(C)  Tenant
shall not make any use, nor permit its employees or contractors to make any use, of the outdoor areas of the Entire Parcel or of the streets and driveway abutting the Demised
Premises which shall damage such streets or driveways, including, without limitation, the overloading thereof. 

10.   ALTERATIONS:  

(A)  Tenant
agrees that neither Tenant nor anyone claiming under Tenant shall make any installations, alterations, additions or improvements to or upon the Demised Premises, except only
the installation of fixture necessary for the conduct of its business, without the prior consent of Landlord and except for non-structural alterations to the interior of the Building
costing, in the aggregate, One Thousand Dollars ($1,000) or less. Notwithstanding any alteration to which Landlord may hereafter, in its sole discretion, consent, Tenant shall restore the Demised
Premises to the same condition as the Demised Premises were in upon commencement of the term unless otherwise requested in writing by Landlord. Tenant shall not bring any additional electrical service
into the Demised Premises unless it is brought in underground over a route first approved by Landlord and unless Tenant restores the surface of the ground and other disturbed areas to the reasonably
same condition that existed prior to the installation thereof. All installations, alterations, additions and improvements made to or upon the Demised Premises, whether made by Landlord or Tenant or
any other person (except only sign and movable trade fixtures installed in the Demised Premises prior to or during the term of this Lease at the sole cost of Tenant or any person claiming under
Tenant) shall be deemed part of the Demised Premises and upon the expiration or other termination of the terms of this Lease shall be at the Landlord's sole discretion either fully restored in
accordance with the above provisions of this paragraph or surrendered with the Demised Premises as a part thereof, in good condition and repair, without disturbance, molestation or injury. Movable
trade fixtures shall include trade fixtures and other installations not affixed to the realty and trade fixtures and other installations affixed only by nails, bolts or screws with prior permission of
Landlord. 

(B)  Tenant
shall procure all necessary permits before making any repairs, installations, alterations, additions, improvements or removals. Landlord shall cooperate with Tenant in
obtaining such permits. Tenant agrees that all repairs, installations, alterations, additions, improvements and removals done by Tenant or anyone claiming under Tenant shall be done in a good and
workmanlike manner, that the same shall be done in conformity with all laws, ordinances, regulations of all public authorities and all insurance inspection or rating bureaus having jurisdiction, that
the structure of the demised premises shall not be endangered or impaired thereby, and that Tenant shall repair any and all damage caused by or resulting from any such repairs, installations,
alterations, additions, improvements or removals, including, without limitation, the filling of holes. Tenant shall pay promptly when due all charges for labor and materials in connection with any
work done by Tenant or anyone claiming under Tenant to or upon 

5

 

the
Demised Premises so that the Demised Premises shall at all times are free of liens. Tenant shall save Landlord harmless from, and indemnify Landlord against, any and all claims for injury, loss or
damage to persons or property caused by or resulting from the doing of any such repairs, installations, alterations, additions, improvements and removals. 

If
any mechanic's lien or other liens, charges or orders shall be filed against the whole or any part of Demised Premises as the result of the acts or omissions of Tenant or anyone claiming under
Tenant or any claim against Tenant. Tenant shall cause the same to be canceled and discharged of record, or fully bonded by bonding company satisfactory to Landlord, within ten (10) days after
notice of filing thereof. 

11.   USE:  

Tenant
agrees that during the term of this Lease, Demised Premises shall be used and occupied only for office use, research, development and light assembly and offices incidental thereto and for
parking incidental thereto, and for no other purposes without the prior written consent of Landlord. The Tenant agrees to indemnify, hold harmless and defend the Landlord, its successors and assigns,
from and against any loss, damage, claims, expenses or liability in connection with contamination for which the Tenant is responsible or that results from the failure of the Tenant to carry out its
obligation under the Lease. Tenant agrees that during the term of this Lease and, notwithstanding anything in the immediately preceding sentence contained to the contrary: no use may be made of the
Demised Premises which may reasonably be expected to attract parking, loading or unloading in excess of the facilities constructed therefore upon the Entire Parcel; neither Tenant nor any person
claiming under Tenant shall impede ingress or egress to, or use of, the loading areas of the Entire Parcel; no nuisance or waste shall be permitted in, upon or about the Demised Premises; no use or
business shall be permitted or conducted in, upon or about the Demised Premises which shall be unlawful, improper, noisy or offensive, or contrary to any law, ordinance, regulation or requirement of
any public authority or insurance inspection or rating bureau or similar organization having jurisdiction; the Demised Premises including, without limitation, any of the mechanical systems thereof,
shall not be overloaded, damaged or defaced; Tenant shall not drill or make holes in the stone or brickwork or any of the walls or ceilings of the Demised Premises; the utilities conduits in the
Demised Premises shall not be overloaded or used for any purposes other than the purposes for which originally constructed; no foreign objects shall be deposited in the plumbing facilities of the
Demised Premises; no ladders shall be placed against the flashing upon the perimeter of the Building; Tenant shall not permit the emission of any objectionable noise, smoke, fumes, dust or odor from
the Demised Premises; Tenant shall procure all licenses and permits which may be required for any use made of the Demised Premises; all waste and refuse shall be stored in and removed from the Demised
Premises in accordance with rules and regulations therefore as may be prescribed by Landlord and consistent with all local, state and federal regulations that may apply; and no sign may be installed
upon the Demised Premises which is visible from the exterior of the Building, without the consent of Landlord, except that one sign shall be erected upon the exterior of the Demised Premises which
will be the type utilizing individual letters such as those in Landlord's Hopkinton Technology Park having letters not to exceed one foot in height and if Tenant includes an insignia in such sign,
such insignia shall be separate and not over two feet in height and width at the highest and widest points. 

6

 

 12.   INDEMNITY AND INSURANCE:  

(A)
During the term of this Lease and at any other time while Tenant or any person claiming under Tenant shall be upon the Entire Parcel. Tenant shall to the extent permitted by law, save Landlord
harmless from, and defend and indemnify Landlord against any and all injury, loss or damage, and any and all claims for injury, loss or damage, of whatever nature (i) caused by or resulting
from, or claimed to have been caused by or to have resulted from, any act, omission of negligence of Tenant or any person claiming under Tenant (including without limitation, subtenants of Tenant and
employees and contractors of Tenant and its subtenants) no matter where occurring, and (ii) occurring in, upon or about the Demised Premises or in connection with the use, occupancy or control
thereof, no matter how caused. This indemnity and hold harmless agreement shall include indemnity against all costs, expenses and liabilities incurred in connection with any such injury, loss or
damage or any such claim, or any proceeding brought thereon or the defense thereof. If Tenant or any person claiming under Tenant or the whole or any part of the property of the Tenant or any person
claiming under Tenant shall be injured, lost or damaged by theft, fire, water, steam or in any other way or manner, whether similar or dissimilar to the foregoing, then, to the extent permitted by
law, no part of said injury, loss or damage shall be borne by Landlord, its employees or its agents. Landlord shall, to the extent permitted by law, shall save the Tenant harmless from and defend and
indemnify the Tenant against injury or loss as a result of the Landlord's negligent and willful misconduct. 

(B)
Tenant shall maintain commercial general liability insurance, with respect to the Demised Premises and its appurtenances, issued by an insurance company approved by Landlord, naming Landlord and
Tenant and any designees of Landlord as insureds, in amounts of not less than One Million Dollars ($1,000,000.00) with respect to injuries to any one person and not less than Three Million Dollars
($3,000,000.00) with respect to injuries suffered in any one accident and not less than One Hundred Thousand Dollars ($100,000.00) with respect to property, or such greater amounts shall be required
the holder of any mortgage upon the Demised Premises or premises of which the Demised Premises is a part. Tenant shall deliver to Landlord the policies of such insurance, or certificates thereof, at
least
fifteen (15) days prior to the commencement of the term of this Lease and each renewal policy or certificate thereof in form acceptable to Landlord, at least fifteen (15) days prior to
the expiration of the policy it renews. All such insurance policies shall provide that such policies shall not be canceled or changed without at least fifteen (15) days notice to Landlord. 

13.   FIRE AND OTHER CASUALTY:  

(A)
If the Demised Premises shall be damaged or destroyed by fire or other casualty, then Tenant shall give notice thereof to Landlord, and except as hereinafter otherwise provided, Landlord shall,
within reasonable time thereafter, repair or restore the Demised Premises to substantially the same condition the Demised Premises were in prior to such casualty. Notwithstanding the foregoing,
Landlord shall not be obligated to spend for such repairs and restoration any amount in excess of such insurance proceeds, if any, as shall be paid to Landlord as the result of such damage or
destruction, and subject to the prior rights thereto, if any, of any mortgagees. If the damage to the Demised Premises should be so extensive as to render the whole or any part of thereof untenable or
unsuitable for use and occupancy by Tenant, a just proportion of the minimum rent, according to the nature and extent of the injury to the Demised Premises, shall be suspended or abated until
occupancy the Demised Premises shall be repaired or restored as provided in the first sentence of this Section (A). It is agreed and understood that if during the term of this Lease either the
Demised Premises or the Building shall be damaged or destroyed as aforesaid to the extent of twenty five percent (25%) or more of their insurable value, Landlord, at its election may terminate the
term of this Lease by a notice to Tenant within thirty (30) days after such damage or 

7

 

destruction.
It is also agreed and understood that if during the last six (6) months of the term of this Lease the Demised Premises shall be damaged or destroyed as aforesaid to the extent of
twenty five percent (25%) or more of their insurable value, Tenant at its election, may terminate the term of this Lease by a notice to Landlord within thirty (30) days after such damage or
destruction. In the event of any termination of the term of this Lease pursuant to the provisions of this Article, the termination shall be effective on the fifteenth (15th) day after
the giving of the notice of termination. A just proportion of the minimum rent, according to the nature and extent of the injury to the Demised Premises, shall be suspended or abated until the time of
termination, and minimum rent shall be apportioned as of the time of termination. If Landlord is required or elects to repair or restore the Demised Premises as hereinabove provided, then Tenant shall
resume its business therein. If Landlord shall not substantially complete repair and restoration of the Demised Premises to the extent required under this Section (A) on or before the one
hundred eightieth (180th) day following the occurrence of such casualty ("the Deadline"), then the term of this Lease shall terminate upon the Deadline unless prior to the Deadline
Tenant shall give notice to the Landlord that Tenant then elects to continue the term of this Lease thereafter, and if Tenant shall so elect then this sentence shall thereafter be void and of no
further force or effect. 

(B)
Landlord shall maintain such fire and casualty insurance with respect to the Demised Premises as shall from time to time be required by the holder of a first mortgage upon the Entire Parcel. The
cost to Landlord of any insurance which Landlord shall maintain with respect to the Demised Premises, the Building and/or the Entire Parcel, including, without limitation, fire, so-called
extended coverage, rent insurance, agreed amount, inflation guard, all risk and/or difference-in-conditions coverage, and general comprehensive public liability insurance, is
herein referred to as "Landlord's insurance cost." 

If
Landlord's insurance cost for any calendar year shall exceed Eleven Thousand Eight Hundred Forty Two Dollars ($11,842.00) Tenant shall pay 20,000/60,300 of such excess to Landlord upon demand as
additional rent. For the calendar year during which the term of this Lease shall commence and terminate, Tenant shall pay a pro rata portion of such excess. The determination of Landlord's insurance
agent with respect to the amount of any such excess shall be conclusive and finally determinative for purposes hereof. Nothing in this Section (B) shall be deemed to limit in any way the
obligations of Tenant contained in this Lease with respect to the maintaining of any type of insurance whatsoever. 

(C)
Tenant shall not do, or suffer to be done, or keep, or suffer to be kept, or omit to do, anything in, upon or about the Demised Premises, the Building and/or the Entire Parcel which may prevent
the obtaining of any insurance on, or with respect to the Demised Premises, the Building and/or the Entire Parcel or on any property therein, including, without limitation, fire, extended coverage,
public liability insurance and any other insurance referred to in Section (A) hereof, or which may make void or voidable any such insurance or which may create any extra premiums for, or
increase the rate of, any such insurance. If anything shall be done or kept or omitted to be done in, upon or about the Demised Premises which shall create any increased or extra premiums for or
increase the rate of, any such increase, then, in addition to all other rights and remedies which Landlord may have as a result thereof, Tenant shall pay the increased cost of the same to Landlord
upon demand. In determining whether extra or increased premiums are the result of Tenant's use of the Demised Premises a Schedule issued by the organization making the rates applicable to the Demised
Premises, or a certificate of Landlord's insurance agent, showing the components of such rates, shall be conclusive evidence of the items and charges which comprise the rate of any such insurance and
any increase therein and extra charge therefore. 

8

 

14.   EMINENT DOMAIN:  

(A)
If after the execution of this Lease and prior to the expiration of the term of this Lease the whole of the Demised Premises shall be taken under the power of eminent domain, or acquired for any
public or quasi-public use by deed in lieu thereof, then the term of this Lease shall cease as of the time when Landlord shall be divested of its title in the Demised Premises, and minimum rent shall
be apportioned and adjusted as of time of termination. 

(B)
If only a part of the Entire Parcel shall be taken under the power of eminent domain, or acquired for any public or quasi-public use by deed in lieu thereof and if as a result thereof the paved
area of the Entire Parcel shall be reduced by more than twenty percent (20%) or the ground floor area of the Building shall be reduced by more than ten percent (10%), and the part remaining shall not
be reasonably adequate for the operation of business conducted in the Demised Premises prior to the taking, either Landlord or Tenant may, in its election terminate the term of this Lease by giving
the other notice of the exercise of its election within twenty days (20) after it shall receive notice of such taking, and termination shall be effective as of the time that possession of the
part so taken shall be required for public or quasi-public use, and minimum rent shall be apportioned and adjusted as of the time of termination. If only a part of the Demised Premises shall be taken
under the power of eminent domain or so acquired and if the term of this Lease shall not be terminated as aforesaid, then the term of this Lease shall continue in full force and effect and Landlord
shall, within a reasonable time after possession is required for public use, repair and restore what may remain of the Entire Parcel and the demised Premises subject to reduction in area as a result
thereof and subject to then existing building and zoning codes, and a just proportion of the minimum rent, according to the nature and extent of the injury to the Demised Premises, shall be suspended
or abated until what may remain of the Demised Premises shall be put into such condition by Landlord, and thereafter proportion of the minimum rent shall be abated for the balance of the term of this
Lease, said proportion to be computed on the basis of the relationship which the ground floor area of the Demised Premises rendered unusable bears to the ground floor area of the Demised Premises
immediately prior therein. Notwithstanding the foregoing, Landlord shall not be obligated to make any such repairs and restoration under this Article which shall cost Landlord any amount in excess of
such damages as shall be paid to Landlord as the result of such taking or deed and not required to be paid by Landlord to the holders of any mortgages upon this Entire Parcel. 

(C)
Landlord reserves to itself, and Tenant assigns to Landlord, all rights to damages accruing on account of any taking under the power of eminent domain or by reason of any such act of any public or
quasi-public authority for which damages are payable. Tenant agrees to execute such instruments of assignment as may be reasonably required by Landlord in any proceeding for the recovery of such
damages if requested by Landlord, and to pay over to Landlord any damages that may be recovered in said proceeding. It is agreed and understood, however, that Landlord does not reserve to itself, and
Tenant does not assign to Landlord any damages payable for movable trade fixtures installed by Tenant or any person claiming under Tenant at the sole cost of Tenant or any person claiming under
Tenant. 

15.   DEFAULTS:  

(A)
All rent (minimum and additional) and other charges and amounts due and payable under this Lease from Tenant to Landlord shall be payable and paid without demand and without any deduction,
defense, counterclaim or set-off whatsoever. If Landlord shall default under this Lease, Tenant's sole remedies shall be injunctive relief and/or damages, and Tenant shall not have the
right to terminate this Lease or withhold any rent, charge or amount hereunder as a result thereof. A default by the Tenant under this Lease shall be deemed a default under all other Leases Tenant 

9

 

or
its affiliates may now have or subsequently enter into with Landlord or JEEBO Management, LLC. 

(B)
(1) If Tenant shall default in the payment of any rent or other payments required of Tenant and such default shall continue for  five (5) days, or (2) if Tenant shall default in the
performance or observance of any other agreement or condition on its part to be
performed or observed and if Tenant shall fail to cure said default within five (5) days after receipt of notice of said default from Landlord,
or (3) if any person shall levy upon, or take, this Leasehold interest or any part thereof upon execution, attachment or other process of law, or (4) if Tenant shall make an assignment
of its property for the benefit of creditors, or (5) if Tenant shall be declared bankrupt or insolvent according to law, or (6) if any bankruptcy, insolvency, reorganization or
arrangement proceedings shall be commenced by Tenant, or (7) if any bankruptcy, insolvency, reorganization or arrangement proceedings shall be commenced against Tenant, or if a receiver,
trustee or assignee shall be appointed for the whole or any part of Tenant's property, and shall not be dismissed within thirty (30) days thereafter, or (8) if Tenant shall vacate or
abandon the Demised Premises, then, in any of said events, Landlord lawfully and immediately or at any time thereafter, and without any further notice or demand, enter into and upon the Demised
Premises or any part thereof in the name of the whole, by force or otherwise, and hold the Demised Premises as if this Lease had not been made, and expel Tenant and those claiming under it and remove
its or their property (forcibly, if necessary) without being taken or deemed to be guilty of any manner of any trespass (or Landlord may send written notice to Tenant of the termination of the term of
this Lease), and upon entry as aforesaid (or in the event that Landlord shall send to Tenant notice of termination as above provided, on the fifth (5th) day next following the date of
the sending of such notice), the term of this Lease shall terminate. A default by Tenant under this Lease shall be deemed a default under all other Leases Tenant may have with Landlord. 

(C)
In case of any such termination, Tenant will indemnify Landlord each month against all loss of rent and all obligations which Landlord may incur by reason of any such termination between the time
of termination and the expiration of the term of this Lease as originally provided in Article 2; or at the election of Landlord, exercised at the time of the termination or at any time
thereafter, Tenant will indemnify Landlord each month until the exercise of the election against all loss of rent and all obligations which Landlord may incur by reason of such termination during the
period between the time of the termination and the exercise of the election and upon the exercise of the election Tenant will pay to Landlord as damages such amount as at the time of the exercise of
the election represents the amount by which the rental value of the Demised Premises for the period from the exercise of the election until the expiration of the term as originally provided in
Article 2 shall be less than the amount of rent and other payments provided herein to be paid by Tenant to Landlord during said period. It is understood and agreed that at the time of the
termination or at any time thereafter, Landlord shall use commercially reasonable efforts to mitigate damages resulting from a Tenant default, including but not limited to marketing the Demised
Premises and/or renting the Demised Premises upon any terms and conditions as Landlord may in its sole discretion determine, and for a term which may expire after the
expiration of the term of this Lease, without releasing Tenant from any liability whatsoever, that Tenant shall be liable for any expenses incurred by Landlord in connection with obtaining possession
of the Demised Premises, with removing from the Demised Premises property of Tenant and persons claiming under it (including, without limitation, warehouse charges), with putting the Demised Premises
into good condition for reletting, and with any reletting, including, without limitation, expenses for protecting, redecorating, repairing, subdividing and altering the Demised Premises and for
reasonable attorneys' fees and brokers' fees, and that any monies collected from any reletting shall be applied first to the foregoing expenses and then to the payment of rent and all other payments
then due or which may thereafter become due from Tenant to Landlord. 

10

 

16.   ASSIGNMENT:  

Tenant
shall not assign, mortgage, pledge or otherwise encumber this Lease or any interest therein, or sublet the whole or any part of the Demised Premises, without obtaining on each occasion the
written consent of Landlord. The foregoing prohibition against assignment and subletting shall be construed to prohibit an assignment of subletting by operation of law. The foregoing prohibition shall
not prohibit the assignment of this Lease, or subletting of the Demised Premises, to a business organization affiliated with Tenant, but, notwithstanding such assignment, Tenant shall remain fully,
primarily and unconditionally liable under this Lease and shall not thereby be released from the performance and observance of all the agreements and conditions on the part of Tenant to be performed
or observed hereunder. No assignment under the immediately preceding sentence and no other assignment or other transfer of Tenant's interest in this Lease to which Landlord may hereafter consent shall
be effective unless and until the assignee or transferee thereunder shall deliver to Landlord, in recordable form a copy of the assignment or transfer thereto and the agreement of such assignee
or transferee with Landlord to perform and observe all of the terms and conditions on the part of Tenant to be performed or observed under this Lease. A business organization shall be deemed to be
affiliated with any corporation (a) if such business organization controls such corporation either directly by ownership or a majority of its voting stock or, if publicly held, of such minority
thereof as to give it substantial control of such corporation, or indirectly by ownership of such majority of voting stock of another business corporation so controlling such corporation, or
(b) if such business organization is so controlled by another business organization so controlling such corporation, or (c) if such business organization and such corporation are
substantially controlled by the same stockholders or their families. 

17.   WAIVER OF SUBROGATION:  

Each
of Landlord and Tenant hereby releases the other, to the extent of its insurance coverage, from any and all liability for any loss or damage caused by fire or any of the extended coverage
casualties or any other casualty covered by its insurance, even if such fire, or other casualty shall be brought about by the fault or negligence of the other party, or any persons claiming under it,
however, this release shall be in force and effect only with respect to loss or damage occurring during such time as the releasor's policies of insurance covering such loss or damage shall contain a
clause to the effect that this release shall not affect said policies or the right of the releaser to recover thereunder. Each of Landlord and Tenant agrees that its fire and other casualty insurance
policies will include such a clause so long as the same is obtainable and is includible without extra cost, or if extra cost is chargeable, therefore, so long as the other part pays such extra cost.
If extra cost is chargeable therefore, each party will advise the other thereof and the amount thereof, and the other party at its election, may pay the same but shall not be obligated to do so. 

18.   SUBORDINATION TO MORTGAGES:  

Tenant
agrees that upon the request of Landlord, Tenant shall subordinate this Lease and the lien hereof to the lien of any present or future mortgage or mortgages upon the Demised Premises or any
property of which the Demised Premises are a part, irrespective of the time of execution or time of recording of any such mortgage or mortgages. Upon the request of Landlord, Tenant shall execute,
acknowledge and deliver any and all instruments deemed by Landlord necessary or desirable, including but not limited to the Tenant's most recent financial statement or statements to give effect to or
notice of such subordination or for any re-financing may be contemplating or sale the Building the Landlord may be contemplating. Tenant shall agree, in substance, that, if the holder of
any such mortgage or any person claiming thereunder, including, without limitation, a purchaser at foreclosure or by deed in lieu of foreclosure, shall succeed to the interest of Landlord in this
Lease, Tenant shall recognize, and attorn to, such holder or other person as its Landlord 

11

 

under
this Lease, and shall enter into such further agreements with such mortgagee as such mortgagee shall request. Tenant also agrees that if it shall fail at any time to execute, acknowledge or
deliver any such instrument requested by Landlord, Landlord may, in addition to any other remedies available to it, execute, acknowledge and deliver such instrument as the
attorney-in-fact of Tenant and in Tenant's name; and Tenant hereby makes, constitutes and irrevocably appoints Landlord as its attorney-in-fact for that
purpose. The word "mortgage" as used herein includes mortgages, deeds of trust and other similar instruments and modifications, consolidations, extensions, renewals, replacements and substitutes
thereof. 

19.   ACCESS TO PREMISES:  

Landlord
shall have the right to enter upon the Demised Premises or any part thereof, without charge, at any time during normal business hours after verbally informing Tenant, and in case of
emergency, at any time, to inspect the same, to show the Demised Premises to prospective purchasers, mortgagees or Tenants, to make or facilitate any repairs, alterations, additions or improvements to
the Demised Premises and/or the Building, including, without limitation, to install and maintain in, and remove from, any part of the Demised Premises, pipes, wires and other conduits (but nothing in
this Article 19 contained shall obligate Landlord to make any repairs, alterations, additions, or improvements); and Tenant shall not be entitled to any abatement or reduction of rent or
damages by reason of any of the foregoing. For the period commencing nine (9) months prior to the expiration of the term of this Lease, Landlord may maintain "For Lease" signs on the front or
any part of the exterior of the Demised Premises. 

20.   HOLDING OVER:  

If
Tenant or any person claiming under Tenant shall remain in possession of the Demised Premises or any part thereof after the expiration of the term of this Lease without any agreement in writing
between Landlord and Tenant with respect thereto, prior to the acceptance of rent by Landlord the person remaining in possession shall be deemed a Tenant-at-sufferance. After
acceptance of rent by Landlord, the person remaining in possession shall be deemed a Tenant from calendar month to calendar month subject to the provisions of this Lease insofar as the same may be
made applicable to a tenancy from month to month; except that during such tenancy from month to month, minimum rent shall be payable at a rate four times the rate in effect immediately prior to the
expiration of the term. This provision is used due to the uncertainty created by Tenant failing to vacate the premises at the expiration of the Lease term. Tenant's failure to complete restoration
shall be construed as a holdover until such time as restoration is complete. Such holdover rental rate shall be deemed a liquidated damage due to the anticipated or actual harm caused by the Tenant
failing to vacate the premises at the termination of the Lease term. 

12

 

 21.   WAIVERS:  

Failure
of either party to complain of any act or omission on the part of the other party, no matter how long the same may continue, shall not be deemed to be a waiver by either party or any rights
hereunder. No waiver by either party at any time, express or implied, of any breach of any provision of this Lease shall be deemed a waiver of a breach of any other provision of this Lease or a
consent to any subsequent breach of the same or any other provision. If any action by Tenant shall require Landlord's consent or approval, Landlord's consent to or approval of such action on any one
occasion shall not be deemed a consent to or approval of said action on any subsequent occasion or a consent to or approval of any other action on the same or any subsequent occasion. No payment by
Tenant or acceptance by Landlord of a lesser amount than shall be due from Tenant to Landlord shall be deemed to be anything but payment on account, and the acceptance by Landlord of a check for a
lesser amount with an endorsement or statement thereon or upon a letter accompanying said check that said lesser amount is payment in full shall not be deemed an accord and satisfaction, and Landlord
may accept said check without prejudice to recover the balance due or pursue any other remedy. Any and all rights and remedies which Landlord may have under this Lease or by operation of law, either
at law or in equity, upon any breach, shall be distinct, separate and cumulative and shall not be deemed inconsistent with each other; and no one of them, whether exercised by Landlord or not, shall
be deemed to be in exclusion of any other, and any two or more or all of such rights and remedies may be exercised at the same time. 

22.   RULES AND REGULATIONS:  

Tenant
shall observe and comply with, and will cause its subtenants, and its and their employees and agents, to observe and comply with reasonable rule and regulations from time to time promulgated by
Landlord for the benefit and prosperity of the Industrial Park, any, if in which the Demised Premises are situated, including without limitation, the prohibition or restriction of any activities upon
the outdoor areas of the Demised Premises other than parking, loading and unloading. However, neither Tenant nor any person claiming under it shall be bound by any such rules and regulations until
such time Tenant receives a copy thereof. 

23.   QUIET ENJOYMENT:  

Landlord
agrees that upon Tenant's paying the rent and performing and observing the agreements, conditions and other provisions on its part to be performed and observed, Tenant shall and may peaceably
and quietly have, hold and enjoy the Demised Premises during the term of this Lease without any manner of hindrance or molestation from Landlord or any person claiming under Landlord, subject however,
to the terms of this Lease any instruments having a prior lien. 

24.   FAILURE OF PERFORMANCE:  

If
Tenant shall make any default or defaults under this Lease and shall fail to cure the same within five (5) days after Landlord gives Tenant notice thereof, then, Landlord may, at its
election, immediately or at any time thereafter, without waiving any claim for breach of agreement, and without further notice to Tenant, cure default or defaults for the account of Tenant, except
when reasonably deemed necessary by Landlord to prevent injury to person or property Landlord may cure such default without waiting five (5) days, but after notice to Tenant, and, in either
case, the cost to Landlord thereof shall be deemed to be additional rent due upon demand and shall be added to the installment of rent next accruing or to any subsequent installment of rent, at the
election Landlord. 

13

 

25.   MISCELLANEOUS:  

(A)
The words "Landlord" and "Tenant" and the pronouns referring thereto, as used in the Lease, shall mean, where the context requires or admits, the persons named herein as Landlord and as Tenant,
respectively, and their respective heirs, legal representatives, successors and assigns, irrespective of whether singular or plural masculine, feminine or neuter. Except as hereinafter provided
otherwise, the agreements and conditions in this Lease contained on the part of Landlord to be perform or observed shall be binding upon Landlord and its heirs legal representatives, successors and
assigns and shall enure to the benefit of Tenant and its heirs, legal representatives, successors, and assigns; and the agreements and conditions on the part of Tenant to be performed or observed
shall be binding upon Tenant an heirs, legal representatives, successors and assigns shall enure to the benefit of Landlord and its heirs, legal representatives, successors and assigns. Two persons
shall be deemed affiliated if (i) one controls the other either directly by ownership of a majority its voting stock or of such minority thereof as to give it substantial control of the other,
or indirectly by ownership of such a majority of the voting stock of a third company so controlling the other or (ii) if one controlled by a third company (or by individuals) so controlling the
other. The word "Landlord", as used herein, means only the owner for the time being of Landlord's interest in this Lease, that is, in the event of any transfer of Landlord's interest in this Lease
transferor shall cease to be liable, and shall be released from all liability for the performance or observance of any agreements or conditions on the part of the Landlord to be performed or observed
subsequent to the time of said transfer, it being understood and agreed that from and after said transfer the transferee shall be liable for performance and observance of said agreements and
conditions. If Tenant shall consist of more than one person or if there shall be a guarantor or Tenants' obligations, then the liability of all such persons, including the guarantor, if any, shall be
joint and several and the word "Tenant", as used in clauses (4), (5), (6), and (7) of Section (B) of Article 15 of this Lease, shall be deemed to mean any one of such
persons. No trustee, shareholder or beneficiary of any trust and no partner, venturer or participant in any joint venture or partnership and no individual, group of individuals, partnership, joint
venture, trust, corporation or other entity (and no officer or director thereof) who or which hold Landlord's interest in this Lease shall be personally liable for any of the agreements, express or
implied, hereunder, except that such agreements shall, as the case may be, be binding (i) upon the trustees of said trust as trustees, but not individually, and upon the trust estate, or
(ii) upon an individual, group of individuals jointly and severally, joint venture, partnership, corporation or other entity only to the extent of his, its or their ownership interest in the
Demised Premises, and subject to the prior rights of the holders of any mortgages upon the Demised Premise and/or the Entire Parcel and/or premises of which the Entire Parcel is a part. 

(B)
It is agreed that if any provisions of this Lease shall be determined to be void by any court of competent jurisdiction then such determination shall not affect any other provisions of this Lease,
all of which other provisions shall remain in full force and effect; and it is the intention of the parties hereto that if any provision of this Lease is capable of two constructions one of which
would render the provision void and the other of which would render the provision valid, then the provision shall have the meaning which renders it valid. 

(C)
This instrument contains the entire and only agreement between the parties, and no oral statement or representations or prior written matter not contained in this instrument shall have any force
or effect. This Lease shall not be modified in any way except by a writing subscribed by both parties. 

(D)
At any time after the commencement of the term of this Lease and within five (5) days after receipt by Tenant of a written request from Landlord, Tenant shall acknowledge in writing to
Landlord or any mortgagee or prospective mortgagee or other person designated by Landlord that all the construction required of Landlord has been completed, that Tenant has accepted possession 

14

 

of
the Demised Premises, that Landlord is not in default under this Lease, if such be the case, or otherwise specifying each such default in detail, that Tenant has no right of set-off
against rents for any reason and no defenses against the enforcement of any provision in this Lease contained, that no rentals have been paid in advance except for the then current month and for the
security deposit so provided in Article 5, that this Lease is in full force and effect and has not been assigned or amended in any way and any other information reasonably requested. 

(E)
Wherever in this Lease provision is made for the doing of any act by any person it is understood and agreed that said act shall be done by such person at its own cost and expense unless a contrary
intent is expressed. 

(F)
This lease shall not be recorded, but a Notice of Lease describing the Demised Premises, the term hereof and referring hereto may be recorded by either party, and the other party shall execute,
acknowledge and deliver such instrument upon request. If the precise calendar date on which the term of this Lease commences shall not be specified therein, then at the request of either party the
other party shall execute, acknowledge and deliver any instrument amending the foregoing instrument of record to give notice of the precise calendar date on which the term of this Lease commenced and
shall terminate. All governmental charges attributable to the execution or recording to any of the foregoing shall be paid by the party requesting the same. 

(G)
This instrument shall be construed in accordance with the laws of the Commonwealth of Massachusetts. 

26.   DELAYS:  

In
any case where either party hereto is required to do any act other than the payment of money, delays caused by or resulting from Act of God, war, civil commotion, fire or other casualty, labor
difficulties, shortages of labor, material or equipment, government regulations or other causes beyond such party's reasonable control shall not be counted in determining the time during which such
work shall be completed, whether such time be designated by a fixed time or "a reasonable time." In any case where work is to be paid for out of insurance proceeds or condemnation awards, due
allowance shall be made, both to the party required to perform such work and to the party required to make such payment, for delays in the collection of such proceeds and awards. 

27.   NOTICES:  

All
notices and other communications authorized or required hereunder shall be in writing and shall be given by mailing the same by certified or registered mail, return receipt requested, postage
prepaid. If given to Tenant, the same shall be mailed to Tenant at 321 Arsenal Street, Watertown, Massachusetts 02472, Attention: General Counsel and if given to Landlord, the same shall be
mailed to Landlord at O'Brien Investment Partners, LLC, P.O. Box 1250, Concord, Massachusetts 01742. Landlord will accept no change of Tenant's address in this notice clause
without a fully executed amendment to this Lease signed and executed by Landlord and Tenant. The Landlord and Tenant hereby agree to promptly sign such amendment if so requested to by the other. 

28.   CAPTIONS:  

The
captions used as headings for the various Articles of this Lease are used only as a matter of convenience for reference, and are not to be considered a part of this Lease or to be used in
determining the intent of the parties of this Lease. 

15

 

29.   BROKERS COMMISSION:  

Tenant
hereby represents and warrants to Landlord that Tenant has dealt with no brokers in connection with this Lease other than O'Brien Commercial Real Estate, Inc. ("the Broker"). Tenant
shall save Landlord harmless from, and indemnify Landlord against, all loss or damage (including without limitation the cost of defending same) arising from any claim by any other brokers alleging
they have dealt with Tenant. 

30.   RENT ESCALATION:  

Commencing
with the beginning of the second (2nd) year of the term hereof the Tenant shall pay Landlord rent at the rate of One Hundred Sixty Seven Thousand
One Hundred Seventy Nine Dollars and Eighty Cents ($167,179.80) per year, in equal monthly installments of Thirteen Thousand Nine Hundred Thirty One Thousand Dollars
and Sixty Five Cents ($13,931.65). Commencing with the beginning of the third (3rd) year of the term hereof and for the balance of the term thereof remaining, the Tenant shall pay
the Landlord rent at the rate of One Hundred Seventy Five Thousand Five Hundred Thirty Eight Dollars and Seventy Nine Cents ($175,538.79) per year, in equal monthly
installments of Fourteen Thousand Six Hundred Twenty Eight Dollars and Twenty Eight Cents ($14,628.28). 

31.   OPTION TO EXTEND:  

Tenant
shall have the right, at its election, to extend the original term of this Lease for an additional period of five (5) years (hereinafter referred to as the "Extended Term") commencing
upon the expiration of the original term, provided that Tenant shall give Landlord notice of the exercise of its election at least nine (9) months prior to the expiration of the original term
and further provided that at the time of the exercise of said election Tenant shall not be in default under this Lease. The expression "the original term" means the period of three (3) years
referred to in Article 2. Prior in the exercise by Tenant of said election to extend the original term, the expression "the term of this Lease" or any equivalent expression shall mean the
original term as it may have been then extended. Except as expressly otherwise provided in this Lease, all the agreements and conditions in this Lease contained shall apply to said additional period
for which the original term shall be extended as aforesaid. 

32.   OPTION MINIMUM RENT:  

(A)
The first day of the additional period for which the term shall be extended as provided in Article 31 is herein referred to as the "Adjustment Date." As of the Adjustment Date, the annual
minimum rent thereafter payable by Tenant under Article 2 of this Lease shall be increased and shall increase each year of the Extended Term by a fixed percentage equal to "Market Rate" (as
defined herein). The Landlord shall express the term Market Rate as a percentage amount over the then current minimum rent the Tenant is paying in the rental period just prior to the Adjustment Date.
In designating Market Rate as of the Adjustment Date Landlord shall consider, without limitation, the then-current rentals being charged to new tenants for similar industrial space located
in the Boston Massachusetts Metropolitan area, taking into account and giving effect to such considerations as size, condition and location of such Demised Premises and lease term. 

(B)
Within thirty (30) days after Tenant shall exercise its option to extend the term Landlord shall initially designate Market Rate and shall furnish data in support of such designation. If
Tenant disagrees with Landlord's designation of the Market Rate, then Tenant shall have the right, by written notice ("Tenant's Arbitration Notice") delivered within fourteen (14) days after
Tenant has been notified of Landlord's designation, to submit such Market Rate to arbitration as follows. Market Rate shall be determined by arbitrators, one to be chosen by Tenant, one to be chosen
by 

16

 

Landlord,
and a third to be selected, if necessary, as below provided. All arbitrators selected under this paragraph shall be experienced real estate appraisers with substantial experience with
properties located in the Boston, Massachusetts metropolitan area. Landlord and Tenant shall each notify the other of its chosen arbitrator within fifteen (15) days following Tenants
Arbitration Notice and, unless such two arbitrators shall have reached a unanimous decision within thirty (30) days after their designation, then they shall so notify the
then-President of the Greater Boston Real Estate Board and request him or her to select an impartial third arbitrator to act hereunder. Such third arbitrator and the first two chosen shall
hear the parties and their evidence and render their decision within thirty (30) days following the conclusion of such hearing and notify Landlord and Tenant thereof. The unanimous written
decision of the first two chosen without selection and participation of a third arbitrator, or otherwise the written decision of the majority of the three arbitrators chosen and selected as provided
herein, shall be conclusive and binding upon Landlord and Tenant. If within thirty (30) days after Tenant's Arbitration Notice the parties agree upon a single arbitrator or if one party fails
to select an arbitrator, the arbitrator selected by the other shall be the sole arbitrator, and Market Rate shall be determined by such arbitrator. Landlord and Tenant shall bear the expense of their
respective arbitrators. Landlord and Tenant shall bear the expense of the third arbitrator (if any) equally. If the dispute between the Landlord and Tenant as to Market Rate has not been resolved
before the commencement of Tenants obligation to pay minimum rent based upon Market Rate, then Tenant shall pay rent under the Lease in respect of the Premises based upon the Market Rate designated by
Landlord until either the agreement of the parties as to the Market Rate or the decision of the arbitrators, as the case may be, at which time Tenant shall pay any underpayment of rent to Landlord, or
Landlord shall refund any overpayment of rent to the Tenant. 

(C)
Notwithstanding the above, in the event that as of the Adjustment Date the Market Rate, whether designated by Landlord or decided by arbitrators, is equal to or less than a five (5%) percent
increase over the then current minimum rent the Tenant is paying, the Tenant shall pay annual five (5%) percent increases in minimum rent each year of the Extended Term. 

33.   ADDITIONAL WORK TO BE DONE:  

Intentionally
Deleted. 

IN
WITNESS WHEREOF, the parties hereto have executed and delivered this instrument, under seal, all as of the day and year shown herein. 

							
	O'Brien Investment Partners, LLC	 	A123 Systems, Inc.
	

By:	
 	

/s/ Brendan J. King

	
 	

By:	
 	

/s/ Michael Rubino

	

Its: Manager & Authorized Person	
 	

Its: CFO
	

7/30/07

DATE	
 	

7/26/07

DATE

17

 
 EXHIBIT A  

  

18

 
EXHIBIT B

  

19

 

  LEASE AGREEMENT  

LEASE
dated as of the 30th day of July 2007, between O'Brien Investment Partners, LLC, a limited liability company duly organized and existing under the laws of the
Commonwealth of Massachusetts with a mailing address of P.O. Box 1250 Concord, Massachusetts (hereinafter referred to as "Landlord"), and Al23 Systems, a
corporation organized and existing under the laws of the State of Delaware with an address of 1 Kingsbury Avenue, Watertown, Massachusetts 02472 (hereinafter referred to as
"Tenant"). 

1.     PREMISES:  

(A) In
consideration of the rents, agreements and conditions herein reserved and contained on the part of Tenant to be paid, performed and observed, Landlord hereby Leases to Tenant, and Tenant
hereby Leases from Landlord, for the term herein set forth, certain premises at 12 Avenue E, Hopkinton, Massachusetts consisting of Ten Thousand (10,000) square
feet of floor area and having dimensions approximately as shown upon Exhibit B (hereinafter referred to as "the Demised Premises"), situated in the Hopkinton Technology
Park (hereinafter referred to as "the Industrial Park"). 

The
Demised Premises are situated upon a certain parcel of land known as Lot 9. Said parcel of land is more particularly described upon Exhibit A
attached hereto and made a part hereof and is herein referred to as "the Entire Parcel." The Demised Premises are situated within, and are a part of, a certain building shown upon Exhibit B
(hereinafter referred to as "the Building") and said Demised Premises are shown outlined by a bold line upon said Exhibit B. For purposes of this Lease, dimensions are measured from the outside
of exterior walls and the center of interior walls. It is understood and agreed that Exhibit B is intended only to show the approximate size and location of the Demised Premises, the Building
and the Entire Parcel and for no other purpose. 

(B) The
Demised Premises are demised with the benefit of and subject to, the nonexclusive rights of Landlord, Tenant and other Tenants of the Building and the Industrial Park, and all persons
having business with any of them, to use, in common, the parking areas, electrical rooms, entrances, vestibules, traffic lanes and walkways upon the Entire Parcel for the purposes of parking and
access, on foot and by vehicles not exceeding the weight for which the same were constructed and for no other purpose, except for any exclusive areas Landlord shall reserve for the parking of trucks
specifically designated by Landlord. Landlord reserves the right, from time to time, to change the size and configuration of said parking areas, traffic lanes and walkways, and to temporarily close
all or any part thereof, to do maintenance and to prevent a dedication thereof or to prevent the accrual of any rights of any person or the public therein. 

2.     TERM:  

The
term of this Lease shall be the period of Three (3) years and Six (6) Months commencing on August 1, 2007 (hereinafter referred
to as the "Commencement Date") and expiring on January 31, 2011. 

3.     MINIMUM RENT:  

For
first (1st) year of the Lease Term hereof, the Tenant shall pay Landlord rent at the rate of Seventy Nine
Thousand Six Hundred Nine Dollars and Ninety Cents ($79,609.90) per year, in equal monthly installments of Six Thousand Six Hundred Thirty Four Dollars
and Sixteen Cents ($6,634.16) which minimum rent shall be paid monthly, in advance, on the first day of each and every calendar month during the First Year of this Lease Term.
Rent for any fraction of a month at the commencement or expiration of the term of this Lease shall be prorated. All payments of rent (minimum and additional) shall be made payable to Landlord and
shall be sent to Landlord 

20

 

at
the address hereinafter provided for the giving of notice to Landlord or to such other person or address as Landlord shall from time to time designate by notice to Tenant. The annual minimum rent
as stated herein is calculated as the sum of the square foot rate ($6.90 per square foot × 10,000 sq. ft.) plus the Tenant's pro rata share of the current real
estate taxes ($52,135.71 × 100/603) plus the Tenant's pro rata share of the Landlord's current insurance cost ($11,842.00 × 100/603). 

4.     REAL ESTATE TAXES:  

(A) Tenant
shall pay, as additional rent, 10,000/60,300 of the real estate taxes upon or about the Building, land, yard and improvements upon the Building for each tax year during the term
hereof in excess of Fifty Two Thousand One Hundred Thirty Five Thousand Dollars and Seventy One Cents ($52,135.71) per year and a pro rata portion
thereof for each tax year, in which the term hereof commences and terminates. Tenant shall pay the amount of such excess to Landlord, on account, in equal monthly installments of
one-twelfth (1/12th) the amount thereof estimated by Landlord to be payable by Tenant on the basis of the immediately preceding tax year, payable monthly, in advance, on the first day of
each and every calendar month during the term of this Lease and a pro rata portion thereof for any fraction of a month at the commencement or termination of the term. After the close of each tax year,
Landlord shall submit to Tenant a computation of the amount actually payable by Tenant under this Section (A) for such year, and if the amount paid by Tenant for such year on account as
aforesaid shall be less than the amount actually payable therefore as computed by Landlord, then Tenant shall pay the amount of the deficiency, if any, to Landlord within ten (10) days after
receipt of such computation and if the amount paid by Tenant for such year as aforesaid shall exceed the amount actually payable therefore as computed by Landlord, then Tenant may recoup the amount of
the excess by withholding such amount from the next succeeding monthly payments due from Tenant under this Section (A) until thereby repaid in full. 

(B) Tenant
shall pay all taxes allocable to its Leasehold interest, to its signs and other property in and/or upon the Demised Premises, and to the rentals payable under this Lease. Tenant
shall also pay all taxes allocable to any improvements made by Tenant to the Demised Premises. The expression "real estate taxes" shall include improvements, betterment assessments and all taxes and
assessments levied,
assessed or imposed as a substitute therefore, or in lieu of, the whole or any part of the real estate taxes upon the Entire Parcel. 

5.     ADVANCED RENT:  

(A) Landlord
acknowledges that it has received from Tenant the sum of Six Thousand Six Hundred Thirty Four Dollars and Sixteen Cents ($6,634.16)
as payment of the monthly installments of the minimum rent for the first full month of the term of this Lease. 

(B) Landlord
acknowledges that it has received from Tenant the sum Thirteen Thousand Two Hundred Sixty Eight Dollars and Thirty Two Cents
($13,268.32) as security for the payment of rents and the performance and observance of the agreements and conditions in this Lease contained on the part of Tenant to be
performed and observed. In the event of any default or defaults in such payment, performance or observance, Landlord may, at its option and without prejudice to any other remedy which Landlord may
have as result thereof, apply said sum or any part thereof towards the curing of any such default or defaults and/or towards compensating Landlord for any loss or damage arising from any such default
or defaults. Upon the yielding up of the demised premises at the expiration or other termination of the term of this Lease, if Tenant shall not then be in default or otherwise liable to Landlord, said
sum or the unapplied balance thereof shall be returned to Tenant. It is understood and agreed that Landlord shall always have the right to apply said sum, or any part thereof, as aforesaid in the
event of any such default or 

21

 

defaults,
without prejudice to any other remedy or remedies which Landlord may have, or Landlord may pursue any other such remedy or remedies in lieu of applying said sum or any part thereof. No
interest shall be payable on said sum or any part thereof. If Landlord shall apply said sum or any part thereof as aforesaid, Tenant shall, upon demand, pay to Landlord the amount so applied by
Landlord, to restore the security to its original amount. Said sum shall not be mortgaged, assigned or encumbered by Tenant without prior consent of Landlord. Whenever the holder of Landlord's
interest in this Lease, whether it be the Landlord named in this Lease or any transferee of said Landlord, immediate or remote, shall transfer its interest in this Lease, said holder may pay to its
transferee said sum or the unapplied balance thereof, and thereafter such holder shall be released from any and all liability to Tenant with respect to said sum or its application or return, it being
understood and agreed that Tenant shall thereafter look only to such transferee with respect to said sum, its application and return. 

(C) Said
Security Deposit is held by Landlord as security for any necessary restorations of the Demised Premises upon the Tenant vacating the Demised Premises. Said Security Deposit shall not
be used as a credit for rent. If Tenant fails to pay rent for any month they occupy the Demised Premises, the Tenant
shall pay Six Thousand Six Hundred Thirty Four Dollars and Sixteen Cents ($6,634.16) to the Landlord in addition to all other amounts due under the Lease or amendments. 

6.     PHYSICAL CONDITION:  

On
or before the Commencement date, Landlord shall deliver possession of the Demised Premises to Tenant in whatever "as is" condition the Demised Premises may then be in. Tenant acknowledges that the
Demised Premises, Building and Entire Parcel, and all improvements thereon, have been inspected by Tenant, and are in condition acceptable to Tenant and suitable for the purposes and uses intended by
Tenant and Landlord. Landlord has made no representations or warranties whatsoever regarding the condition thereof. 

7.     UTILITIES:  

(A) Tenant
shall pay all charges for heat, air conditioning, gas, sewer, electricity and other utilities used by the Demised Premises. Tenant shall pay 10,000/60,300 of the cost of all water
consumed in the Building and the Entire Parcel. 

(B) Tenant
shall, from time to time, reimburse Landlord 10,000/60,300 of the cost of servicing, maintaining, quarterly monitoring of the function and condition of the sprinkler systems and fire
alarms as well as repairs, necessary upgrades and telephone charges relating thereto, servicing, maintaining, testing, operating, repairing and replacing, by some available means, the sanitary septic
sewerage system serving the Demised Premises or the cost of connecting the Demised Premises to the municipal sanitary sewer system as well as any repairs thereto within ten (10) days after
Landlord shall give Tenant notice of such cost thereof in each case. 

(C) If
the Tenant hereunder occupies more than one (1) module within the building being Leased hereunder, it shall not combine different bays onto one (1) meter for either
electric or gas. The isolated integrity of each module must be protected and no wires will be connected from one (1) module to the next. 

8.     REPAIRS:  

(A) Landlord
shall during the term of this Lease make all necessary repairs or alterations to the property, which Landlord is required to maintain, as hereinafter set forth. The property, which
Landlord is required to maintain, is the foundation, roof, exterior walls, structural columns and structural beams of the Demised Premises and the landscaped and parking areas upon the Entire Parcel.
Notwithstanding the foregoing, if any of said repairs or alterations shall be made necessary 

22

 

by
reason of repairs, installations, alterations, additions or improvements made by Tenant or anyone claiming under, Tenant, by reason of the fault or negligence of Tenant or anyone claiming under
Tenant, by reason of a default in the performance or observance of any agreements, conditions or other provisions on the part of Tenant to be performed or observed hereunder, by reason of any vehicles
damaging the demised premises or by reason of any special use to which the Demised Premises may be put, Tenant shall make all such repairs or alterations as may be necessary, except as otherwise
required under Article 13 (A). Landlord shall not be deemed to have committed a breach of any obligation to make repairs or alterations or perform any other act unless (1) Landlord shall
have made such repairs or alterations or performed such other act negligently, or (2) Landlord shall have received notice from Tenant designating the particular repairs or alterations needed or
the other act of which there has been failure of performance and shall have failed to make such repairs or alterations or performed such other act within a reasonable time after the receipt of such
notice and in the event of a breach referred to in Clause (2) of this sentence, Landlord's liability shall be limited to the cost of making such repairs or alterations or performing such other
act. As used in this Lease, the expressions "exterior walls" and "roof" do not include rooftop heating and/or air conditioning units serving the Demised Premises exclusively or glass, windows, doors,
window sashes or frames, door frames or sign belt. 

(B) Tenant
shall during the term of this Lease make all repairs and alterations to the property which Tenant is required to maintain and/or replace as hereinafter set forth, which may be
necessary to maintain the same in good order, repair and condition, or which may be required by any laws, ordinances, regulations or requirements of any public authorities having jurisdiction, subject
only to the provisions of Articles 13 and 14; and Tenant shall upon the expiration or other termination of the term of this Lease remove its property and that of all persons claiming under it
and shall yield up peaceably to Landlord the Demised Premises and all property therein other than property of Tenant or persons claiming under Tenant, well maintained and clean, and in good order,
repair and condition, and subject only to the provisions of Articles 13 and 14, and shall then surrender all keys for the Demised Premises and shall inform Landlord of all combinations on
locks, alarms and safes. The property which Tenant is required to maintain is the Demised Premises and every part thereof, including, but without limitation, (I) the floor slab, and all walls,
floors and ceilings, (II) the heating, ventilating and air conditioning system and all utilities (water, gas, electricity and sewerage) conduits, the sprinkler system, fixtures, meters and
equipment to the extent the same serve the Demised Premises (whether located inside or outside the Building, (III) stairways, landings, sidewalks and pedestrian traffic lanes as well as the
proper and regular sanding thereof, and (III) all glass, windows, doors, window sashes and frames and door frames. Tenant shall at all times keep in full force and effect a full (all labor and
materials
included) service and maintenance contract, approved by Landlord, for the heating, ventilating, and air conditioning system of the Demised Premises. Landlord may, at its option, reserve the right to
be the contractor and bill the Tenant for the cost of these charges. Notwithstanding the foregoing, Tenant shall not be under any obligation to make repairs or alterations to the foundation, roof,
exterior walls, structural columns or structural beams of the Building, except to the extent provided in Section (A) of this Article. Tenant specifically agrees to replace all glass damaged
with glass of the same kind and quality. Tenant also shall paint, varnish and otherwise redecorate the Demised Premises when required to keep the Demised Premises in the same or similar condition as
such Demised Premises are in at the commencement of the Lease. So-called patch-paint jobs by Tenant shall be unacceptable. 

9.     OUTDOOR AREA:  

(A) Tenant
shall, within ten (10) days after delivery to Tenant of invoices in each case, reimburse Landlord for 10,000/60,300 of the cost to Landlord of owning and maintaining the
landscaped and parking areas of the entire parcel and the sidewalks, and traffic lanes thereof, including, without 

23

 

limitation,
insuring, mowing, raking, fertilizing, pruning, trimming, barking, and other various exterior clean up and repairs, pest and rodent prevention and extermination, replacement of light bulbs
and photo cells, restriping of parking space, cleaning and repairing catch basins and drainpipes, testing ground water and septic effluent, operating and maintaining lawn sprinklers, removing snow,
ice and refuse from the parking areas, traffic lanes and sidewalks of the Entire Parcel and the roof of the Building, and, in addition thereto, a management fee for the foregoing equal to ten percent
(10%) of the cost to Landlord of the foregoing. Tenant shall immediately remove all snow, ice and refuse from the sidewalks abutting the Demised Premises and nothing herein shall require Landlord to
do any hand shoveling or hand sweeping or to use a so-called snow blower. 

(B) Tenant
shall allow any exterior lights upon the Demised Premises to remain in operation as determined by the photo cells or timers attached thereto by Landlord. 

(C) Tenant
shall not make any use, nor permit its employees or contractors to make any use, of the outdoor areas of the Entire Parcel or of the streets and driveway abutting the Demised
Premises which shall damage such streets or driveways, including, without limitation, the overloading thereof. 

10.   ALTERATIONS:  

(A) Tenant
agrees that neither Tenant nor anyone claiming under Tenant shall make any installations, alterations, additions or improvements to or upon the Demised Premises, except only the
installation of fixture necessary for the conduct of its business, without the prior consent of Landlord and except for non-structural alterations to the interior of the Building costing,
in the aggregate, One Thousand Dollars ($1,000) or less. Notwithstanding any alteration to which Landlord may hereafter, in its sole discretion, consent, Tenant shall restore the Demised Premises to
the same condition as the Demised Premises were in upon commencement of the term unless otherwise requested in writing by Landlord. Tenant shall not bring any additional electrical service into the
Demised Premises unless it is brought in underground over a route first approved by Landlord and unless Tenant restores the surface of the ground and other disturbed areas to the reasonably same
condition that existed prior to the installation thereof. All installations, alterations, additions and improvements made to or upon the Demised Premises, whether made by Landlord or Tenant or any
other person (except only sign and movable trade fixtures installed in the Demised Premises prior to or during the term of this Lease at the sole cost of Tenant or any person claiming under Tenant)
shall be deemed part of the Demised Premises and upon the expiration or other termination of the term of this Lease shall be at the Landlord's sole discretion either fully restored in accordance with
the above provisions of this paragraph or surrendered with the Demised Premises as a part thereof, in good condition and repair, without disturbance, molestation or injury. Movable trade fixtures
shall include trade fixtures and other installations not affixed to the realty and trade fixtures and other installations affixed only by nails, bolts, or screws with prior permission of Landlord. 

(B) Tenant
shall procure all necessary permits before making any repairs, installations, uiopalterations, additions, improvements or removals. Landlord shall cooperate with Tenant in obtaining
such permits. Tenant agrees that all repairs, installations, alterations, additions, improvements and removals done by Tenant or anyone claiming under Tenant shall be done in a good and workmanlike
manner, that the same shall be done in conformity with all laws, ordinances and regulations of all public authorities and all insurance inspection or rating bureaus having jurisdiction, that the
structure of the demised premises shall not be endangered or impaired thereby, and that Tenant shall repair any and all damage caused by or resulting from any such repairs, installations, alterations,
additions, improvements or removals, including, without limitation, the filling of holes. Tenant shall pay promptly when due all charges for labor 

24

 

and materials in
connection with any work done by Tenant or anyone claiming under Tenant to or upon the Demised Premises so that the Demised Premises shall at all times are free of
liens. Tenant shall save Landlord harmless from, and indemnify Landlord against, any and claims for injury, loss or damage to persons or property caused by or resulting from the doing of any such
repairs, installations, alterations, additions, improvements and removals. 

If
any mechanic's lien or other liens, charges or orders shall be filed against the whole or any part of Demised Premises as the result of the acts or omissions of Tenant or anyone claiming under
Tenant or any claim against Tenant. Tenant shall cause the same to be canceled and discharged of record, or fully bonded by bonding company satisfactory to Landlord, within ten (10) days after
notice of filing thereof. 

11.   USE:  

Tenuiopweqant
agrees that during the term of this Lease, Demised Premises shall be used and occupied only for office use, research, development and light assembly offices incidental thereto and for
parking incidental thereto, and for no other purposes without the prior written consent of Landlord. The Tenant agrees to indemnify, hold harmless and defend the Landlord, its successors and assigns,
from and against any loss, damage, claims, expenses or liability in connection with contamination for which the Tenant is responsible or that results from the failure of the Tenant to carry out its
obligation under the Lease. Tenant agrees that during the term of this Lease and, notwithstanding anything in the immediately preceding sentence contained to the contrary: no use may be made of the
Demised Premises which may reasonably be expected to attract parking, loading or unloading in excess of the facilities constructed therefore upon the Entire Parcel; neither Tenant nor any person
claiming under Tenant shall impede ingress or egress to, or use of, the loading areas of the Entire Parcel; no nuisance or waste shall be permitted in, upon or about the Demised Premises; no use or
business shall be permitted or conducted in, upon or about the Demised Premises which shall be unlawful, improper, noisy or offensive, or contrary to any law, ordinance, regulation or requirement of
any public authority or insurance inspection or rating bureau or similar organization having jurisdiction; the Demised Premises including, without limitation, any of the mechanical systems thereof,
shall not be overloaded, damaged or defaced; Tenant shall not drill or make any holes in the stone or brickwork or any of the walls or ceilings of the Demised Premises; the utilities conduits in the
Demised Premises shall not be overloaded or used for any purposes other than the purposes for which originally constructed; no foreign objects shall be deposited in the plumbing facilities of the
Demised Premises; no ladders shall be placed against the flashing upon the perimeter of the Building; Tenant shall not permit the emission of any objectionable noise, smoke, fumes, dust or odor from
the Demised Premises; Tenant shall procure all licenses and permits which may be required for any use made of the Demised Premises; all waste and refuse shall be stored in and removed from the Demised
Premises in accordance with rules and regulations therefore as may be prescribed by Landlord and consistent with all local, state and federal regulations that may apply; and no sign may be installed
upon the Demised Premises which is visible from the exterior of the Building, without the consent of Landlord, except that one sign shall be erected upon the exterior of the Demised Premises which
will be the type utilizing individual letters such as those in Landlord's Hopkinton Technology Park having letters not to exceed one foot in height and if Tenant includes an insignia in such sign,
such insignia shall be separate and not over two feet in height and width at the highest and widest points. 

25

 

 12.   INDEMNITY AND INSURANCE:  

(A) During
the term of this Lease, and at any other time while Tenant or any person claiming under Tenant shall be upon the Entire Parcel, Tenant shall to the extent permitted by law, save
Landlord harmless from, and defend and indemnify Landlord against any and all injury, loss or damage, and any and all claims for injury, loss or damage, of whatever nature (i) caused by or
resulting from, or claimed to have been caused by or to have resulted from, any act, omission or negligence of Tenant or any person claiming under Tenant (including without limitation, subtenants of
Tenant and employees and contractors of Tenant and its subtenants) no matter where occurring, and (ii) occurring in, upon or about the Demised Premises or in connection with the use, occupancy
or control thereof, no matter how caused. This indemnity and hold harmless agreement shall include indemnity against all costs, expenses and liabilities incurred in connection with any and such
injury, loss or damage or any such claim, or any proceeding brought thereon or the defense thereof. If Tenant or any person claiming under Tenant or the whole or any part of the property of the Tenant
or any person claiming under Tenant shall be injured, lost or damaged by theft, fire, water, steam or in an other way or manner, whether similar or dissimilar to the foregoing, then, to the extent
permitted by law, no part of said injury, loss or damage shall be borne by Landlord, its employees or its agents. Landlord shall, to the extent permitted by law, shall save the Tenant harmless from
and defend and indemnify the Tenant against injury or loss as a result of the Landlord's negligent and willful misconduct 

(B) Tenant
shall maintain commercial general liability insurance, with respect to the Demised Premises and its appurtenances, issued by an insurance company approved by Landlord, naming
Landlord and Tenant and any designees of Landlord as insureds, in amounts of not less than One Million Dollars ($1,000,000.00) with respect to injuries to any one person and not less than Three
Million Dollars ($3,000,000.00) with respect to injuries suffered in any one accident and not less than One Hundred Thousand Dollars($100,000.00) with respect to property, or such greater amounts as
shall be required the holder of any mortgage upon the Demised Premises or premises of which the Demised Premises are a part. Tenant shall deliver to Landlord the policies of such insurance, or
certificates thereof, at
least fifteen (15) days prior to the commencement of the term of this Lease and each renewal policy or certificate thereof in form acceptable to Landlord, at least fifteen (15) days
prior to the expiration of the policy it renews. All such insurance policies shall provide that such policies shall not be canceled or changed without at least fifteen (15) days notice to
Landlord. 

13.   FIRE AND OTHER CASUALTY:  

(A)
If the Demised Premises shall be damaged or destroyed by fire or other casualty, then Tenant shall give notice thereof to Landlord, and except as hereinafter otherwise provided, Landlord shall,
within reasonable time thereafter, repair or restore the Demised Premises to substantially the same condition the Demised Premises were in prior to such casualty. Notwithstanding the foregoing,
Landlord shall not be obligated to spend for such repairs and restoration any amount in excess of such insurance proceeds, if any, as shall be paid to Landlord as the result of such damage or
destruction, and subject to the prior rights thereto, if any, of any mortgagees. If the damage to the Demised Premises should be so extensive as to render the whole or any part thereof untenable or
unsuitable for use and occupancy by Tenant, a just proportion of the minimum rent, according to the nature and extent of the injury to the Demised Premises, shall be suspended or abated until
occupancy the Demised Premises shall be repaired or restored as provided in the first sentence of this Section (A). It is agreed and understood that if during the term of this Lease either the
Demised Premises or the Building shall be damaged or destroyed as aforesaid to the extent of twenty five percent (25%) or more of their insurable value, Landlord, at its election, may terminate the
term of this Lease by a notice to Tenant within thirty (30) days after such damage 

26

 

or destruction. It
is also agreed and understood that if during the last six (6) months of the term of this Lease the Demised Premises shall be damaged or destroyed as aforesaid
to the extent of twenty five percent (25%) or more of their insurable value, Tenant at its election, may terminate the term of this Lease
by a notice to Landlord within thirty (30) days after such damage or destruction. In the event
of any termination of the term of this Lease pursuant to the provisions of this Article, the termination shall be effective on the fifteenth (15th) day after the giving of the notice of termination. A
just proportion of the minimum rent, according to the nature and extent of the injury to the Demised Premises, shall be suspended or abated until the time of termination, and minimum rent shall be
apportioned as of the time of termination. If Landlord is required or elects to repair or restore the Demised Premises as hereinabove provided, then Tenant shall resume its business therein. If
Landlord shall not substantially complete repair and restoration of the Demised Premises to the extent required under this Section (A) on or before the one hundred eightieth (180th) day
following the occurrence of such casualty ("the Deadline"), then the term of this Lease shall terminate upon the Deadline unless prior to the Deadline Tenant shall give notice to the Landlord that
Tenant then elects to continue the term of this Lease thereafter, and if Tenant shall so elect then this sentence shall thereafter be void and of no further force or effect. 

(B)
Landlord shall maintain such fire and casualty insurance with respect to the Demised Premises as shall from time to time be required by the holder of a first mortgage upon the Entire Parcel. The
cost to Landlord of any insurance which Landlord shall maintain with respect to the Demised Premises, the Building and/or the Entire Parcel, including, without limitation, fire, so-called
extended coverage, rent insurance, agreed amount, inflation guard, all risk and/or difference-in-conditions coverage, and general comprehensive public liability insurance, is
herein referred to as "Landlord's insurance cost." 

If
Landlord's insurance cost for any calendar year shall exceed Eleven Thousand Eight Hundred Forty Two Dollars ($11,842.00) Tenant shall pay
10,000/60,300 of such excess to Landlord upon demand as additional rent. For the calendar year during which the term of this Lease shall commence and terminate, Tenant shall pay a pro rata portion of
such excess. The determination of Landlord's insurance agent with respect to the amount of any such excess shall be conclusive and finally determinative for purposes hereof. Nothing in this
Section (B) shall be deemed to limit in any way the obligations of Tenant contained in this Lease with respect to the maintaining of any type of insurance whatsoever. 

(C)
Tenant shall not do, or suffer to be done, or keep, or suffer to be kept, or omit to do, anything in, upon or about the Demised Premises, the Building and/or the Entire Parcel which may prevent
the obtaining of any insurance on, or with respect to the Demised Premises, the Building and/or the Entire Parcel or on any property therein, including, without limitation, fire, extended coverage,
public liability insurance and any other insurance referred to in Section (A) hereof, or which may make void or voidable any such insurance or which may create any extra premiums for, or
increase the rate of, any such insurance. If anything shall be done or kept or omitted to be done in, upon or about the Demised Premises which shall create any increased or extra premiums for or
increase the rate of, any such insurance, then, in addition to all other rights and remedies which Landlord may have as a result thereof, Tenant shall pay the increased cost of the same to Landlord
upon demand. In determining whether extra or increased premiums are the result of Tenant's use of the Demised Premises a Schedule issued by the organization making the rates applicable to the Demised
Premises, or a certificate of Landlord's insurance agent, showing the components of such rates, shall be conclusive evidence of the items and charges which comprise the rate of any such insurance and
any increase therein and extra charge therefore. 

27

 

14.   EMINENT DOMAIN:  

(A)
If after the execution of this Lease and prior to the expiration of the term of this Lease the whole of the Demised Premises shall be taken under the power of eminent domain, or acquired for any
public or quasi-public use by deed in lieu thereof, then the term of this Lease shall cease as of the time when Landlord shall be divested of its title in the Demised Premises, and minimum rent shall
be apportioned and adjusted as of time of termination. 

(B)
If only a part of the Entire Parcel shall be taken under the power of eminent domain, or acquired for any public or quasi-public use by deed in lieu thereof and if as a result thereof the paved
area of the Entire Parcel shall be reduced by more than twenty percent (20%) or the ground floor area of the Building shall be reduced by more than ten percent (10%), and the part remaining shall not
be reasonably adequate for the operation of business conducted in the Demised Premises prior to the taking, either Landlord or Tenant may, at its election terminate the term of this Lease by giving
the other notice of the exercise of its election within twenty days(20) after it shall receive notice of such taking, and termination shall be effective as of the time that possession of the part so
taken shall be required for public or quasi-public use, and minimum rent shall be apportioned and adjusted as of the time of termination. If only a part of the Demised Premises shall be taken under
the power of eminent domain or so acquired and if the term of this Lease shall not be terminated as aforesaid, then the term of this Lease shall continue in full force and effect and Landlord shall,
within a reasonable time after possession is required for public use, repair and restore what may remain of the Entire Parcel and the demised Premises subject to reduction in area as a result thereof
and subject to then existing building and zoning codes, and a just proportion of the minimum rent, according to the nature and extent of the injury to the Demised Premises, shall be suspended or
abated until what may remain of the Demised Premises shall be put into such condition by Landlord, and thereafter proportion of the minimum rent shall be abated for the balance of the term of this
Lease, said proportion to be computed on the basis of the relationship which the ground floor area of the Demised Premises rendered unusable bears to the ground floor area of the Demised Premises
immediately prior thereto. Notwithstanding the foregoing, Landlord shall not be obligated to make any such repairs and restoration under this Article which shall cost Landlord any amount in excess of
such damages as shall be paid to Landlord as the result of such taking or deed and not required to be paid by Landlord to the holders of any mortgages upon the Entire Parcel. 

(C)
Landlord reserves to itself, and Tenant assigns to Landlord, all rights to damages accruing on account of any taking under the power of eminent domain or by reason of any such act of any public or
quasi-public authority for which damages are payable. Tenant agrees to execute such instruments of assignment as may be reasonably required by Landlord in any proceeding for the recovery of such
damages if requested by Landlord, and to pay over to Landlord any damages that may be recovered in said proceeding. It is agreed and understood, however, that Landlord does not reserve to itself, and
Tenant does not assign to Landlord, any damages payable for movable trade fixtures installed by Tenant or any person claiming under Tenant at the sole cost of Tenant or any person claiming under
Tenant. 

15.   DEFAULTS:  

(A)
All rent (minimum and additional) and other charges and amounts due and payable under this Lease from Tenant to Landlord shall be payable and paid without demand and without any deduction,
defense, counterclaim or set-off whatsoever. If Landlord shall default under this Lease, Tenant's sole remedies shall be injunctive relief and/or damages, and Tenant shall not have the
right to terminate this Lease or withhold any rent, charge or amount hereunder as a result thereof. A default by the Tenant under this Lease shall be deemed a default under all other Leases Tenant 

28

 

or
its affiliates may now have or subsequently enter into with Landlord or JEEBO Management, LLC. 

(B)
(1) If Tenant shall default in the payment of any rent or other payments required of Tenant and such default shall continue for five (5) days, or
(2) if Tenant shall default in the performance or observance of any other agreement or condition on its part to be performed or observed and if Tenant shall fail to cure said default within  five (5) days after receipt of notice of said default from Landlord, or (3) if any person shall levy upon, or take, this Leasehold interest or
any part thereof upon execution, attachment or other process of law, or (4) if Tenant shall make an assignment of its property for the benefit of creditors, or (5) if Tenant shall be
declared bankrupt or insolvent according to law, or (6) if any bankruptcy, insolvency, reorganization or arrangement proceedings shall be commenced by Tenant, or (7) if any bankruptcy,
insolvency, reorganization or arrangement proceedings shall be commenced against Tenant, or if a receiver, trustee or assignee shall be appointed for the whole or any part of Tenant's property, and
shall not be dismissed within thirty (30) days thereafter, or (8) if Tenant shall vacate or abandon the Demised Premises, then, in any of said events, Landlord lawfully and immediately
or at any time thereafter, and without any further notice or demand, enter into and upon the Demised Premises or any part thereof in the name of the whole, by force or otherwise, and hold the Demised
Premises as if this Lease had not been made, and expel Tenant and those claiming under it and remove its or their property (forcibly, if necessary) without being taken or deemed to be guilty of any
manner of any trespass (or Landlord may send written notice to Tenant of the termination of the term of this Lease), and upon entry as aforesaid (or in the event that Landlord shall send to Tenant
notice of termination as above provided, on the fifth (5th) day next following the date of the sending of such notice), the term of this Lease shall terminate. A default by Tenant under this Lease
shall be deemed a default under all other Leases Tenant may have with Landlord. 

(C)
In case of any such termination, Tenant will indemnify Landlord each month against all loss of rent and all obligations which Landlord may incur by reason of any such termination between the time
of termination and the expiration of the term of this Lease as originally provided in Article 2; or at the election of Landlord, exercised at the time of the termination or at any time
thereafter, Tenant will indemnify Landlord each month until the exercise of the election against all loss of rent and all obligations which Landlord may incur by reason of such termination during the
period between the time of the termination and the exercise of the election and upon the exercise of the election Tenant will pay to Landlord as damages such amount as at the time of the exercise of
the election represents the amount by which the rental value of the Demised Premises for the period from the exercise of the election until the expiration of the term as originally provided in
Article 2 shall be less than the amount of rent and other payments provided herein to be paid by Tenant to Landlord during said period. It is understood and agreed that at the time of the
termination or at any time thereafter, Landlord shall use commercially reasonable efforts to mitigate damages resulting from a Tenant default, including but not limited to marketing the Demised
Premises and/or renting the Demised Premises upon any terms and conditions as Landlord may in its sole discretion determine, and for a term which may expire after the
expiration of the term of this Lease, without releasing Tenant from any liability whatsoever, that Tenant shall be liable for any expenses incurred by Landlord in connection with obtaining possession
of the Demised Premises, with removing from the Demised Premises property of Tenant and persons claiming under it (including, without limitation, warehouse charges), with putting the Demised Premises
into good condition for reletting, and with any reletting, including, without limitation, expenses for protecting, redecorating, repairing, subdividing and altering the Demised Premises and for
reasonable attorneys' fees and brokers' fees, and that any monies collected from any reletting shall be applied first to the foregoing expenses and then to the payment of rent and all other payments
then due or which may thereafter become due from Tenant to Landlord. 

29

 

16.   ASSIGNMENT:  

Tenant
shall not assign, mortgage, pledge or otherwise encumber this Lease or any interest therein, or sublet the whole or any part of the Demised Premises, without obtaining on each occasion the
written consent of Landlord. The foregoing prohibition against assignment and subletting shall be construed to prohibit an assignment or subletting by operation of law. The foregoing prohibition shall
not prohibit the assignment of this Lease, or subletting of the Demised Premises, to a business organization affiliated with Tenant, but, notwithstanding such assignment, Tenant shall remain fully,
primarily and unconditionally liable under this Lease and shall not thereby be released from the performance and observance of all the agreements and conditions on the part of Tenant to be performed
or observed hereunder. No assignment under the immediately preceding sentence and no other assignment or other transfer of Tenant's interest in this Lease to which Landlord may hereafter consent shall
be effective unless and until the assignee or transferee thereunder shall deliver to Landlord, in recordable form a copy of the assignment or transfer thereto and the agreement of such assignee
or transferee with Landlord to perform and observe all of the terms and conditions on the part of Tenant to be performed or observed under this Lease. A business organization shall be deemed to be
affiliated with any corporation (a) if such business organization controls such corporation either directly by ownership or a majority of its voting stock or, if publicly held, of such minority
thereof as to give it substantial control of such corporation, or indirectly by ownership of such majority of voting stock of another business corporation so controlling such corporation, or
(b) if such business organization is so controlled by another business organization so controlling such corporation, or (c) if such business organization and such corporation are
substantially controlled by the same stockholders or their families. 

17.   WAIVER OF SUBROGATION:  

Each
of Landlord and Tenant hereby releases the other, to the extent of its insurance coverage, from any and all liability for any loss or damage caused by fire or any of the extended coverage
casualties or any other casualty covered by its insurance, even if such fire, or other casualty shall be brought about by the fault or negligence of the other party, or any persons claiming under it,
however, this release shall be in force and effect only with respect to loss or damage occurring during such time as the releasor's policies of insurance covering such loss or damage shall contain a
clause to the effect that this release shall not affect said policies or the right of the releasor to recover thereunder. Each of Landlord and Tenant agrees that its fire and other casualty insurance
policies will include such a clause so long as the same is obtainable and is includible without extra cost, or if extra cost is chargeable, therefore, so long as the other part pays such extra cost.
If extra cost is chargeable therefore, each party will advise the other thereof and the amount thereof, and the other party at its election, may pay the same but shall not be obligated to do so. 

18.   SUBORDINATION TO MORTGAGES:  

Tenant
agrees that upon the request of Landlord, Tenant shall subordinate this Lease and the lien hereof to the lien of any present or future mortgage or mortgages upon the Demised Premises or any
property of which the Demised Premises are a part, irrespective of the time of execution or time of recording of any such mortgage or mortgages. Upon the request of Landlord, Tenant shall execute,
acknowledge and deliver any and all instruments deemed by Landlord necessary or desirable, including but not limited to the Tenant's most recent financial statement or statements to give effect to or
notice of such subordination or for any re-financing may be contemplating or sale the Building the Landlord may be contemplating. Tenant shall agree, in substance, that, if the holder of
any such mortgage or any person claiming thereunder, including, without limitation, a purchaser at foreclosure or by deed in lieu of foreclosure, shall succeed to the interest of Landlord in this
Lease, Tenant shall recognize, and attorn to, such holder or other person as its Landlord 

30

 

under
this Lease, and shall enter into such further agreements with such mortgagee as such mortgagee shall request. Tenant also agrees that if it shall fail at any time to execute, acknowledge or
deliver any such instrument requested by Landlord, Landlord may, in addition to any other remedies available to it, execute, acknowledge and deliver such instrument as the
attorney-in-fact of Tenant and in Tenant's name; and Tenant hereby makes, constitutes and irrevocably appoints Landlord as its attorney-in-fact for that
purpose. The word "mortgage" as used herein includes mortgages, deeds of trust and other similar instruments and modifications, consolidations, extensions, renewals, replacements and substitutes
thereof. 

19.   ACCESS TO PREMISES:  

Landlord
shall have the right to enter upon the Demised Premises or any part thereof, without charge, at any time during normal business hours after verbally informing Tenant, and in case of
emergency, at any time, to inspect the same, to show the Demised Premises to prospective purchasers, mortgagees or Tenants, to make or facilitate any repairs, alterations, additions or improvements to
the Demised Premises and/or the Building, including, without limitation, to install and maintain in, and remove from, any part of the Demised Premises, pipes, wires and other conduits (but nothing in
this Article 19 contained shall obligate Landlord to make any repairs, alterations, additions, or improvements); and Tenant shall not be entitled to any abatement or reduction of rent or
damages by reason of any of the foregoing. For the period commencing nine (9) months prior to the expiration of the term of this Lease, Landlord may maintain "For Lease" signs on the front or
any part of the exterior of the Demised Premises. 

20.   HOLDING OVER:  

If
Tenant or any person claiming under Tenant shall remain in possession of the Demised Premises or any part thereof after the expiration of the term of this Lease without any agreement in writing
between Landlord and Tenant with respect thereto, prior to the acceptance of rent by Landlord the person remaining in possession shall be deemed a Tenant-at-sufferance. After
acceptance of rent by Landlord, the person remaining in possession shall be deemed a Tenant from calendar month to calendar month subject to the provisions of this Lease insofar as the same may be
made applicable to a tenancy from month to month; except that during such tenancy from month to month, minimum rent shall be payable at a rate four times the rate in effect immediately prior to the
expiration of the term. This provision is used due to the uncertainty created by the Tenant failing to vacate the premises at the expiration of the Lease term. Tenant's failure to complete restoration
shall be construed as a holdover until such time as restoration is complete. Such holdover rental rate shall be deemed a liquidated damage due to the anticipated or actual harm caused by the Tenant
failing to vacate the premises at the termination of the Lease term. 

21.   WAIVERS:  

Failure
of either party to complain of any act or omission on the part of the other party, no matter how long the same may continue, shall not be deemed to be a waiver by either party of any rights
hereunder. No waiver by either party at any time, express or implied, of any breach of any provision of this Lease shall be deemed a waiver of a breach of any other provision of this Lease or a
consent to any subsequent breach of the same or any other provision. If any action by Tenant shall require Landlord's consent or approval, Landlord's consent to or approval of such action on any one
occasion shall not be deemed a consent to or approval of said action on any subsequent occasion or a consent to or approval of any other action on the same or any subsequent occasion. No payment by
Tenant or acceptance by Landlord of a lesser amount than shall be due from Tenant to Landlord shall be deemed to be anything but payment on account, and the acceptance by Landlord of a check for a
lesser amount with an endorsement or statement thereon or upon a 

31

 

letter
accompanying said check that said lesser amount is payment in full shall not be deemed an accord and satisfaction, and Landlord may accept said check without prejudice to recover the balance
due or pursue any other remedy. Any and all rights and remedies which Landlord may have under this Lease or by operation of law, either at law or in equity, upon any breach, shall be distinct,
separate and cumulative and shall not be deemed inconsistent with each other; and no one of them, whether exercised by Landlord or not, shall be deemed to be in exclusion of any other, and any two or
more or all of such rights and remedies may be exercised at the same time. 

22.   RULES AND REGULATIONS:  

Tenant
shall observe and comply with, and will cause its subtenants, and its and their employees and agents, to observe and comply with reasonable rule and regulations from time to time promulgated by
Landlord for the benefit and prosperity of the Industrial Park, any, if in which the Demised Premises are situated, including without limitation, the prohibition or restriction of any activities upon
the outdoor areas of the Demised Premises other than parking, loading and unloading. However, neither Tenant nor any person claiming under it shall be bound by any such rules and regulations until
such time Tenant receives a copy thereof. 

23.   QUIET ENJOYMENT:  

Landlord
agrees that upon Tenant's paying the rent and performing and observing the agreements, conditions and other provisions on its part to be performed and observed, Tenant shall and may
peaceably and quietly have, hold and enjoy the Demised Premises during the term of this Lease without any manner of hindrance or molestation from Landlord or any person claiming under Landlord,
subject however, to the terms of this Lease any instruments having a prior lien. 

24.   FAILURE OF PERFORMANCE:  

If
Tenant shall make any default or defaults under this Lease and shall fail to cure the same within five (5) days after Landlord gives Tenant notice thereof, then, Landlord may, at its
election, immediately or at any time thereafter, without waiving any claim for breach of agreement, and without further notice to Tenant, cure default or defaults for the account of Tenant, except
when reasonably deemed necessary by Landlord to prevent injury to person or property Landlord may cure such default without waiting five (5) days, but after notice to Tenant, and, in either
case, the cost to Landlord thereof shall be deemed to be additional rent due upon demand and shall be added to the installment of rent next accruing or to any subsequent installment of rent, at the
election Landlord. 

25.   MISCELLANEOUS:  

(A)
The words "Landlord" and "Tenant" and the pronouns referring thereto, as used in the Lease, shall mean, where the context requires or admits, the persons named herein as Landlord and as Tenant,
respectively, and their respective heirs, legal representatives, successors and assigns, irrespective of whether singular or plural masculine, feminine or neuter. Except as hereinafter provided
otherwise, the agreements and conditions in this Lease contained on the part of Landlord to be perform or observed shall be binding upon Landlord and its heirs legal representatives, successors and
assigns and shall enure to the benefit of Tenant and its heirs, legal representatives, successors, and assigns; and the agreements and conditions on the part of Tenant to be performed or observed
shall be binding upon Tenant an heirs, legal representatives, successors and assigns shall enure to the benefit of Landlord and its heirs, legal representatives, successors and assigns. Two persons
shall be deemed affiliated if (i) one controls the other either directly by ownership of a majority its voting stock or of such minority thereof as to give it substantial control of the other,
or indirectly by ownership of such a majority of the voting stock of a third company so 

32

 

controlling the other or
(ii) if one controlled by a third company (or by individuals) so controlling the other. The word "Landlord", as used herein, means only the owner
for the time being of Landlord's interest in this Lease, that is, in the event of any transfer of Landlord's interest in this Lease transferor shall cease to be liable, and shall be released from all
liability for the performance or observance of any agreements or conditions on the part of the Landlord to be performed or observed subsequent to the time of said transfer, it being understood and
agreed that from and after said transfer the transferee shall be liable for performance and observance of said agreements and conditions. If Tenant shall consist of more than one person or if there
shall be a guarantor of Tenants' obligations, then the liability of all such persons, including the guarantor, if any, shall be joint and several and the word "Tenant", as used in clauses (4),
(5),(6), and (7) of Section (B) of Article 15 of this Lease, shall be deemed to mean any one of such persons. No trustee, shareholder or beneficiary of any trust and no partner,
venturer or participant in any joint venture or partnership and no individual, group of individuals, partnership, joint venture, trust, corporation or other entity (and no officer or director thereof)
who or which hold Landlord's interest in this Lease shall be personally liable for any of the agreements, express or implied, hereunder, except that such agreements shall, as the case may be, be
binding (i) upon the trustees of said trust as trustees, but not individually, and upon the trust estate, or (ii) upon an individual, group of individuals jointly and severally, joint
venture, partnership, corporation or other entity only to the extent of his, its or their ownership interest in the Demised Premises, and subject to the prior rights of the holders of any mortgages
upon the Demised Premise and/or the Entire Parcel and/or premises of which the Entire Parcel is a part. 

(B)
It is agreed that if any provisions of this Lease shall be determined to be void by any court of competent jurisdiction then such determination shall not affect any other provisions of this Lease,
all of which other provisions shall remain in full force and effect; and it is the intention of the parties hereto that if any provision of this Lease is capable of two constructions one of which
would render the provision void and the other of which would render the provision valid, then the provision shall have the meaning which renders it valid. 

(C)
This instrument contains the entire and only agreement between the parties, and no oral statements or representations or prior written matter not contained in this instrument shall have any force
or effect. This Lease shall not be modified in any way except by a writing subscribed by both parties. 

(D)
At any time after the commencement of the term of this Lease and within five (5) days after receipt by Tenant of a written request from Landlord, Tenant shall acknowledge in writing to
Landlord or any mortgagee or prospective mortgagee or other person designated by Landlord that all the construction required of Landlord has been completed, that Tenant has accepted possession of the
Demised Premises, that Landlord is not in default under this Lease, if such be the case, or otherwise specifying each such default in detail, that Tenant has no right of set-off against
rents for any reason and no defenses against the enforcement of any provision in this Lease contained, that no rentals have been paid in advance except for the then current month and for the security
deposit so provided in Article 5, that this Lease is in full force and effect and has not been assigned or amended in any way and any other information reasonably requested. 

(E)
Wherever in this Lease provision is made for the doing of any act by any person it is understood and agreed that said act shall be done by such person at its own cost and expense unless a contrary
intent is expressed. 

(F)
This Lease shall not be recorded, but a Notice of Lease describing the Demised Premises, the term hereof and referring hereto may be recorded by either party, and the other party shall execute,
acknowledge and deliver such instrument upon request. If the precise calendar date on which the term of this Lease commences shall not be specified therein, then at the 

33

 

request of either
party the other party shall execute, acknowledge and deliver any instrument amending the foregoing instrument of record to give notice of the precise calendar
date on which the term of this Lease commenced and shall terminate. All governmental charges attributable to the execution or recording to any of the foregoing shall be paid by the party requesting
the same. 

(G)
This instrument shall be construed in accordance with the laws of the Commonwealth of Massachusetts. 

26.   DELAYS:  

In
any case where either party hereto is required to do any act other than the payment of money, delays caused by or resulting from Act of God, war, civil commotion, fire or other casualty, labor
difficulties, shortages of labor, material or equipment, government regulations or other causes beyond such party's reasonable control shall not be counted in determining the time during which such
work
shall be completed, whether such time be designated by a fixed time or "a reasonable time". In any case where work is to be paid for out of insurance proceeds or condemnation awards, due allowance
shall be made, both to the party required to perform such work and to the party required to make such payment, for delays in the collection of such proceeds and awards. 

27.   NOTICES:  

All
notices and other communications authorized or required hereunder shall be in writing and shall be given by mailing the same by certified or registered mail, return receipt requested, postage
prepaid. If given to Tenant, the same shall be mailed to Tenant at 321 Arsenal Street, Watertown, Massachusetts 02472, Attention: General Counsel and if given to Landlord, the same shall be mailed to
Landlord at O'Brien Investment Partners, LLC, P.O. Box 1250, Concord, Massachusetts 0I742. Landlord will accept no change of
Tenant's address in this notice clause without a fully executed amendment to this Lease signed and executed by Landlord and Tenant. The Landlord and Tenant hereby agree to promptly sign such amendment
if so requested to by the other. 

34

 

 28.   CAPTIONS:  

The
captions used as headings for the various Articles of this Lease are used only as a matter of convenience for reference, and are not to be considered a part of this Lease or to be used in
determining the intent of the parties of this Lease. 

29.   BROKERS COMMISSION:  

Tenant
hereby represents and warrants to Landlord that Tenant has dealt with no brokers in connection with this Lease other than O'Brien Commercial Real Estate, Inc ("the Broker"). Tenant shall save
Landlord harmless from, and indemnify Landlord against, all loss or damage (including without limitation the cost of defending same) arising from any claim by any other brokers alleging they have
dealt with Tenant. 

30.   RENT ESCALATION:  

Commencing
with the beginning of the second (2nd) year of the term hereof the Tenant shall pay Landlord rent at the rate of  Eighty Three Thousand Five Hundred Ninety Dollars and
Thirty Two Cents ($83,590.32) per year, in equal monthly installments of  Six Thousand Nine Hundred Sixty Five Dollars and Eighty Six Cents ($6,965.86). Commencing with the
beginning of the third
(3rd) year of the term hereof and for the balance of the term thereof remaining, the Tenant shall pay the Landlord rent at the rate of  Eighty Seven Thousand Seven Hundred Sixty Nine Dollars
and Eight Cents ($87,769.80) per year, in equal monthly installments of  Seven Thousand Three Hundred Fourteen Dollars and Fifteen Cents ($7,314.15). 

31.   OPTION TO EXTEND:  

Tenant
shall have the right, at its election, to extend the original term of this Lease for an additional period of Five (5) years (hereinafter referred to as the "Extended Term) commencing
upon the expiration of the original term, provided that Tenant shall give Landlord notice of the exercise of its election at least nine (9) months prior to the expiration of the original term
and further provided that at the time of the exercise of said election Tenant shall not be in default under this Lease. The expression "the original term" means the period of three (3) years
and six (6) months referred to in Article 2. Prior to the exercise by Tenant of said election to extend the original term, the expression "the term of this Lease" or any equivalent
expression shall mean the original term as it may have been then extended. Except as expressly otherwise provided in this Lease, all the agreements and conditions in this Lease contained shall apply
to said additional period for which the original term shall be extended as aforesaid. 

32.   OPTION MINIMUM RENT:  

(A)
The first day of the additional period for which the term shall be extended as provided in Article 31 is herein referred to as the "Adjustment Date." As of the Adjustment Date, the annual
minimum rent thereafter payable by Tenant under Article 2 of this Lease shall be increased and shall increase each year of the Extended Term by a fixed percentage equal to "Market Rate" (as
defined herein). The Landlord shall express the term Market Rate as a percentage amount over the then current minimum rent the Tenant is paying in the rental period just prior to the Adjustment Date.
In designating Market Rate as of the Adjustment Date Landlord shall consider, without limitation, the then-current rentals being charged to
new tenants for similar industrial space located in the Boston Massachusetts Metropolitan area, taking into account and giving effect to such considerations as size, condition and location of such
Demised Premises and lease term. 

(B)
Within thirty (30) days after Tenant shall exercise its option to extend the term Landlord shall initially designate Market Rate and shall furnish data in support of such designation. if
Tenant 

35

 

disagrees
with Landlord's designation of the Market Rate, then Tenant shall have the right, by written notice ("Tenant's Arbitration Notice") delivered within fourteen (14) days after Tenant
has been notified of Landlord's designation, to submit such Market Rate to arbitration as follows. Market Rate shall be determined by arbitrators, one to be chosen by Tenant, one to be chosen by
Landlord, and a third to be selected, if necessary, as below provided. All arbitrators selected under this paragraph shall be experienced real estate appraisers with substantial experience with
properties located in the Boston, Massachusetts metropolitan area. Landlord and Tenant shall each notify the other of its chosen arbitrator within fifteen (15) days following Tenants
Arbitration Notice and, unless such two arbitrators shall have reached a unanimous decision within thirty (30) days after their designation, then they shall so notify the
then-President of the Greater Boston Real Estate Board and request him or her to select an impartial third arbitrator to act hereunder. Such third arbitrator and the first two chosen shall
hear the parties and their evidence and render their decision within thirty (30) days following the conclusion of such hearing and notify Landlord and Tenant thereof. The unanimous written
decision of the first two chosen without selection and participation of a third arbitrator, or otherwise the written decision of the majority of the three arbitrators chosen and selected as provided
herein, shall be conclusive and binding upon Landlord and Tenant. If within thirty (30) days after Tenant's Arbitration Notice the parties agree upon a single arbitrator or if one party fails
to select an arbitrator, the arbitrator selected by the other shall be the sole arbitrator, and Market Rate shall be determined by such arbitrator. Landlord and Tenant shall bear the expense of their
respective arbitrators. Landlord and Tenant shall bear the expense of the third arbitrator (if any) equally. If the dispute between the Landlord and Tenant as to Market Rate has not been resolved
before the commencement of Tenants obligation to pay minimum rent based upon Market Rate, then Tenant shall pay rent under the Lease in respect of the Premises based upon the Market Rate designated by
Landlord until either the agreement of the parties as to the Market Rate or the decision of the arbitrators, as the case may be, at which time Tenant shall pay any underpayment of rent to Landlord, or
Landlord shall refund any overpayment of rent to the Tenant. 

(C)
Notwithstanding the above, in the event that as of the Adjustment Date the Market Rate, whether designated by Landlord or decided by arbitrators, is equal to or less than a five (5%) percent
increase over the then current minimum rent the Tenant is paying, the Tenant shall pay annual five (5%) percent increases in minimum rent each year of the Extended Term. 

33.   ADDITIONAL WORK TO BE DONE:  

Intentionally
Deleted. 

IN
WITNESS WHEREOF, the parties hereto have executed and delivered this instrument, under seal, all as of the day and year shown herein. 

			
	O'Brien Investment Partners, LLC

By:	 	Al23 Systems, Inc.

By:
	

/s/ Brendan J. King

Brendan J. King	

 	

/s/ Michael Rubino

Michael Rubino
	

Its: Manager & Authorized Person	
 	

Its: CFO
	

7/30/07

DATE	
 	

7/26/07

DATE

36

 
 

  EXHIBIT A    
    

  

 
 

  EXHIBIT B    
    

  

QuickLinks

Exhibit 10.10

EXHIBIT A

EXHIBIT BQuickLinks
 -- Click here to rapidly navigate through this document

 

 
 

  Exhibit 10.11    
    

 
 

  Lease Contract    
    

Lessor
(hereinafter referred to as Party A): 

Changzhou Wujin Materials Recovery Co., Ltd

Lessee
(hereinafter referred to as Party B): 

A123 Systems (China) Co. Ltd.

        In
accordance with the Contract Law of the People's Republic of China and pertinent rules and regulations, Party A and Party B have reached an agreement through friendly consultation to
conclude the following contract: 

 Article 1. Location and attached facilities of the premises:  

	(1)
	Party
A will lease to Party B two (2) single storey industrial buildings owned by Party A, which is located at No.18, Qingyang Road, Xinbei District,
Changzou, Jiangsu Province; the size of the leased premises is 2300 square meters.

	(2)
	The
attached facilities of the premises: 

 Article 2. Lease term:  

The
lease term will be two years, from 1st March 2008 to 28th February 2010. 

Party
A has the right to terminate this contract and withdraw the leased premises under any of the following circumstances: 

	(1)
	Party
B under-lease, sublease, or transfer the leased premises without agreement of Party A;

	(2)
	Use
the leased premises for purpose of engaging in any illegal activity;

	(3)
	Fail
to pay for the rental or miscellaneous fees for one month;

	(4)
	Change
the use of the leased premises without written consent of Party A;

	(5)
	Alter
the structure of the leased premises without written consent of Party A. 

Within
one month before the contract expires, Party B will notify Party A if it intends to extend the lease. Party A will give priority to Party B under equivalent conditions. 

 Article 3. Rental and deposit:  

	(1)
	The
tax included yearly rental of the leased premises is RMB 230,000 and will be paid in advance annually. The first payment after the sign of the contract
will be                        , and the time for every following payment will
be                        .

	(2)
	Party
A will issue the official invoice after receiving the rental and relevant tax for issuing invoice paid by Party B;

	(3)
	Guarantying
the safety and good conditions of the premises and account of miscellaneous fees are settled on schedule during the lease term, party B will pay
to Party A RMB            as a deposit after the sign of this contract. Party A will return full amount of the deposit without interest on the day when this contract expires.

 Article 4. Repair and decoration of the leased premises:  

	(1)
	Repair
of the leased premises: Party A transfer the premises to Party B under current conditions, Party B will be responsible for various repairs during the
lease term; 

	(2)
	Decoration
of the leased premises: According to the need or demand, Party B may pay for decoration as long as no change will be done on the structure of the
premises. The range of decoration, technology and materials to be used shall be reported to Party A in writing and consented by Party A before starting the construction.

	(3)
	Party
B shall ensure the premises to be resumed to the original state and condition when this contract expires, unless the decoration cannot be resumed,
Party A will accept the premises with accomplished decoration from Party B for free. 

 Article 5. Alteration of lessor and lessee: 

	(1)
	Party
B hereby consent to waive its priority of purchase if Party A decide to transfer the title of the leased premises during lease term, but Party A shall
notify Party B one month in advance;

	(2)
	Unless
otherwise provided hereinafter, this contract will be binding on the subsequent owner if Party A transfers the title of the leased premises to any
third party. 

 Article 6. Liabilities and responsibilities of both parties: 

	(1)
	Party
A must transfer the premises to Party B as provided by this contract, and will pay one month rental to Party B as compensation for any breach of this
contract;

	(2)
	Party
B will pay for miscellaneous fees during lease term, and will pay to Party A the share of water fee, electricity fee, fees for sanitation and public
security, elevator fee and security fee;

	(3)
	Party
B will pay to Party A 5% of due rental or fees per day as penalty when make delay payment, except of the penalty, Party A may take other unusual
measures like cutting off electricity power and water supply to protect self interest;

	(4)
	Party
B will keep clean environment of the leased premises and take measures against fire and theft. Party B will be fully responsible for any accident;

	(5)
	Party
B shall take good care of the leased premises and attached facilities, and will compensate Party A for any damage. Party B shall notify Party A any
damage resulted from natural reason in time and coordinate with Party A for timely repair;

	(6)
	Party
B shall pay to Party A 50% of unfulfilled rental as penalty if terminating this contract before expiration day. 

 Article 7. Escape clause: 

If
the government plans to pull down the premises during lease term, Party A shall inform Party B within one month after receiving official notice. Party B shall return the leased premises as required
by Party A, and guarantee not to damage the architectural decoration. Party A will exclusively accept the governmental compensation. Party A will receive the rental from Party B based on actual
renting days and will return any over payment to Party B. 

 Article 8. Party A has the right to interpret any ambiguous content in this contract. 

 Article 9. This contract is in two copies, one for each party. 

			
	Party A:	 	Party B:
	

Changzhou Wujin Materials

Recovery Co., Ltd	

 	

A123 Systems (China) Co., Ltd
	

(with official seal and signature of

Legal representative)	
 	

(with official seal and signature of

Legal representative)

 

			
	Affix:	 	Copy of business license of Party A, copy of business license or copy of ID card of representative of Party B.

 
 

  Storage Yard Lease Contract    
    

Party A (Lessor):    Changzhou Wujin Materials Recovery Co., Ltd 

Party B (Lessee):    A123 Systems (China) Co., Ltd 

Party
A will lease to Party B the storage yard owned by itself, which is 5300 square meters and is located at No.18, Qingyang Road, Xinbei District, Changzhou, for stacking goods. The terms and
conditions of this contract are stipulated as follows: 

	1.
	Lease
term: 

The
lease term will be from 1 March 2008 to 28 February 2010  

	2.
	Rental:

The
rental will be RMB 380,000 (three hundred and eighty thousands only) per annum.  

	3.
	The
Lessee shall not sublease the leased storage yard within the foregoing lease term.

	4.
	The
Lessee shall retrocede the leased storage yard to the Lessor upon the expiration of this contract.

	5.
	Both
parties shall be to deal with any matter not mentioned herein by amicable negotiation. 

			
	Party A (Lessor):	 	Party B (Lessee):
	

Changzhou Wujin Materials

Recovery Co., Ltd	

 	

A123 Systems (China) Co., Ltd
	

(with official seal and signature)	
 	

(with official seal and signature)

QuickLinks

Exhibit 10.11

Lease Contract

Storage Yard Lease Contract

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00146-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00146-of-00352.parquet"}]]