Document:

EX-10.22

 Exhibit 10.22 

FIRST AMENDMENT TO LEASE 
 This First
Amendment to Lease (“First Amendment”), dated as of January 29, 2018 (the “Effective Date”), by and between Embarcadero Joint Venture, a California general partnership (“Lessor”), and
D-Wave Commercial Inc., a Delaware corporation (“Lessee”), as successor to D-Wave Systems, Inc., a Canadian corporation (“Original Lessee”), amends
that certain Lease, dated January 15, 2013, by and between Lessor and Original Lessee, (the “Lease”), for the Premises located at 2650 East Bayshore Road, Palo Alto, California with reference to the following facts: 

RECITALS 
 A. WHEREAS, the
term of the Lease is currently scheduled to expire on April 30, 2018. 
 B. WHEREAS, Lessor and Lessee desire to amend the Lease to
(i) extend the Lease term for a period of sixty-two (62) months, (ii) provide for Base Monthly Rent payable under the Lease for the extended term, and (iii) amend certain other provisions of the
Lease, all as more particularly set forth herein. 
 C. WHEREAS, Original Lessee assigned, and Lessee assumed, the Lease pursuant to the
Assignment and Assumption Agreement dated as of the Effective Date between Original Lessee and Lessee. 
 NOW, THEREFORE, for good and
valuable consideration, receipt of which is hereby acknowledged, Lessor and Lessee agree as follows: 
 1. RECITALS; DEFINED TERMS:
The recitals set forth above are incorporated by reference into this First Amendment as though set forth at length. Capitalized terms used but not defined herein shall have the meanings given them in the Lease. 

2. TERM: The Lease is hereby extended for a period of sixty-two (62) months, commencing on
May 1, 2018 and terminating on June 30, 2023 (the “Extended Term”). During the Extended Term, all of the terms, covenants and conditions of the Lease shall be applicable except as set forth herein. 

3. RENTAL: Base Monthly Rent for the Extended Term shall be payable to Lessor without defense, deduction or offset at such place or
places as may be designated from time to time by Lessor in the following amounts: 
 Base Monthly Rent shall be abated for the months of May
2018 and June 2018. 
 Commencing on July 1, 2018, and on the first day of each and every succeeding 

 month to and including April 1, 2019, $16,080.00 shall be due. 

Commencing on May 1, 2019, and on the first day of each and every succeeding month to and including April 1, 2020, $16,562.40 shall
be due. 
 Commencing on May 1, 2020, and on the first day of each and every succeeding month to and including April 1, 2021,
$17,059.27 shall be due. 
 Commencing on May 1, 2021, and on the first day of each and every succeeding month to and including
April 1, 2022, $17,571.05 shall be due. 
 Commencing on May 1, 2022, and on the first day of each and every succeeding month to
and including April 1, 2023, $18,098.18 shall be due. 
 Commencing on May 1, 2023, and on the first day of each and every
succeeding month to and including June 1, 2023, $18,641.13 shall be due. 
 4. CONDITION OF PREMISES AND ALTERATIONS: Lessee has
accepted possession of the Premises, and Lessor shall have no obligation to alter or improve the Premises, or to pay any costs of any such alterations or improvements. 

For purposes of Section 1938 of the California Civil Code, Lessor hereby discloses to Lessee, and Lessee hereby acknowledges, that the exterior areas of
the Premises have undergone an inspection by a Certified Access Specialist (CASp), and certain modifications have been made to the exterior areas of the Premises to comply with applicable accessibility standards under state law. Lessee acknowledges
that Lessor has provided Lessee with a copy of the CASp report and a disability access inspection certificate, and Lessee agrees to keep such report and certificate confidential except as necessary for Lessee to complete repairs and corrections of
violations of construction-related accessibility standards that the Lessee agrees to make. Except for the above-described inspection of the exterior areas of the Premises, Lessor hereby discloses to Lessee, and Lessee hereby acknowledges, that the
Premises have not undergone inspection by a CASp. As required by Section 1938(e) of the California Civil Code, Landlord hereby states as follows: 

“A Certified Access Specialist (CASp) can inspect the subject premises and determine whether the subject premises comply with all of the
applicable construction-related accessibility standards under state law. Although state law does not require a CASp inspection of the subject premises, the commercial property owner or lessor may not prohibit the lessee or tenant from obtaining a
CASp inspection of the subject premises for the occupancy or potential occupancy of the lessee or tenant, if requested by the lessee or tenant. The parties shall mutually agree on the arrangements for the time and manner of the CASp inspection, the
payment of the fee for the CASp inspection, and the cost of making any repairs necessary to correct violations of construction-related 

  
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accessibility standards within the premises.” 
 In furtherance of the foregoing, Lessor and
Lessee hereby agree as follows: 
 Upon at least thirty (30) days’ prior written notice to Lessor, Lessee shall have the right to
require a CASp inspection of the Premises. If Lessee requires a CASp inspection of the Premises, then: (a) Lessor and Lessee shall mutually agree on the arrangements for the time and manner of the CASp inspection during such 30-day period; (b) the contract with the CASP inspector shall require the inspector to perform the inspection in accordance with the standard of care applicable to experts performing such inspections, Lessor
shall be an intended third party beneficiary of such contract, and the contract shall otherwise be subject to Lessor’s reasonable approval; (c) the CASp inspection shall be conducted (i) at Lessee’s sole cost and expense,
(ii) by a CASp reasonably approved in advance by Lessor, (iii) in a manner reasonably satisfactory to Lessor, and (iv) shall be addressed to, and, upon completion, promptly delivered to, Lessor and Lessee; (d) the information in
the inspection shall not be disclosed by Lessee to anyone other than contractors, subcontractors, and consultants of Lessee who are retained by Lessee to complete any repairs or correct violations to the extent that Lessee has agreed to undertake
such repairs or corrections or who otherwise have a need to know the information therein and who are directed not to further disclose such information; and (e) Lessee shall correct any violations of the construction related accessibility
standards within or relating to the Premises, in accordance with the terms of Paragraph 9 of the Lease, at Lessee’s cost, notwithstanding anything to the contrary in Paragraph 14 of the Lease. 

5. LEASE GUARANTY; EVENTS OF DEFAULT: As of the Effective Date, Lessee has delivered to Lessor a Continuing Lease Guaranty executed by
Original Lessee, as guarantor (“Guarantor”) for the benefit of Lessor, in the form attached hereto as Exhibit A. From and after the Effective Date, Paragraph 19 of the Lease is hereby amended to include the following additional
subparagraphs in the definition of the term “Event of Default”: 
 “(f) Guarantor files, or consents by answer
or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other debtors’ relief law of any
jurisdiction; makes an assignment for the benefit of its creditors; or consents to the appointment of a custodian, receiver, trustee or other officer with similar powers of Lessee or of any substantial part of Guarantor’s property; or 

“(g) A court or government authority enters an order, and such order is not vacated within thirty (30) days,
appointing a custodian, receiver, trustee or other officer with similar powers with respect to Guarantor or with respect to any substantial part of Guarantor’s property; or constituting an order for 

  
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relief or approving a petition for relief or reorganization or arrangement or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy, insolvency or other
debtors’ relief law of any jurisdiction; or ordering the dissolution, winding-up or liquidation of Guarantor; or 

“(h) Any dissolution, merger, consolidation, recapitalization or other reorganization of Guarantor, or the sale or other
transfer in the aggregate over the term of the Lease of a controlling percentage of the capital stock of Guarantor (excluding transfers over a national securities exchange), or the sale or transfer of all or a substantial portion of the assets of
Guarantor, excluding a merger, consolidation, recapitalization, reorganization or sale of assets as to which Guarantor provides prior written notice to Lessor of the material terms of such transaction together with evidence reasonably satisfactory
to Lessor that Guarantor’s tangible net worth (or the tangible net worth of the surviving entity in a merger, if other than Guarantor), determined in accordance with generally accepted accounting principles, immediately after such transaction
is not less than Guarantor’s tangible net worth immediately prior to such transaction. The phrase “controlling percentage” or “control” means the ownership of and the right to vote stock possessing more than fifty percent of
the total combined voting power of all classes of Guarantor’s capital stock issued, outstanding and entitled to vote for the election of directors.” 

6. FULL FORCE & EFFECT: As of the date hereof, the Lease is in full force and effect. From and after the date
hereof, the term “Lease” shall mean the Lease as amended by this First Amendment. 
 7. ENTIRETY: The Lease, as amended by
this First Amendment, is the entire agreement between the parties and there are no agreements or representations between the parties except as expressed herein. Moreover, no subsequent change or modification of the Lease, as amended, shall be
binding unless in writing and fully executed by Lessor and Lessee. 
 8. BROKERS: Lessor and Lessee each represent and warrant to the
other that it has had no dealings with any broker, finder or other person who has a right to a fee or commission in connection with this First Amendment, except Lessor’s broker, Renault & Handley, and Lessee’s broker, CBRE, Inc.
Lessor and Lessee shall indemnify, defend and hold the other harmless against any loss or liability arising from a breach of the foregoing representation and warranty by Lessor or Lessee, as the case may be. Lessor shall be responsible for any
commission owing to Lessor’s broker. Lessee shall be responsible for any commission owing to Lessee’s broker. 
 9.
MISCELLANEOUS: Any inconsistencies or conflicts between the terms and provisions of the Lease and the terms and provisions of this First Amendment shall be resolved in favor of the terms and provisions of this First Amendment. This First
Amendment may be executed and delivered in any number of counterparts, including 

  
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delivery by facsimile transmission, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

10. AUTHORITY: Lessor and Lessee each represent and warrant to the other that it has full authority to enter into and perform this
First Amendment without the consent or approval of any other person or entity including, without limitation, any mortgagees, partners, ground lessors, or other superior interest holders or interested parties. Each person signing this First Amendment
on behalf of Lessor or Lessee represents and warrants that he or she has the full and complete authority, corporate, partnership or otherwise, to bind Lessor or Lessee, as the case may be, to this First Amendment. 

IN WITNESS THEREOF, Lessor and Lessee have executed this First Amendment to Lease as of the Effective Date. 

 

													
	 Lessee:
  
	 		 	Lessor:  
	  	
	 D-Wave Commercial Inc., a Delaware

corporation
	 		 	Embarcadero Joint Venture, a California
 general partnership

 
	  	
	By:	 	 /s/ Vern J. Brownell
	 	                            	 	 By
  

 
	 	 Handley Management Corporation, Its

Managing General Partner
  
	  	
	 		 	By:	  	 /s/ Jacob Foraker
	  	                            
	Name:	 	Vern J. Brownell	 		 		 	Name:	  	Jacob Foraker	  	
	Its:	 	CEO	 		 		 	Its:	  	President and CEO	  	
	Date:	 	January 25, 2018	 		 		 	Date:	  	January 29, 2018	  	

  
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 EXHIBIT A 

Form of Continuing Lease Guaranty 

  
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 CONTINUING LEASE GUARANTY 

THIS GUARANTY, is made as of January     , 2018, by D-WAVE SYSTEMS INC., a
Canadian corporation, with offices at 3033 Beta Avenue, Burnaby, British Columbia, V5G 4M9 (“Guarantor”), to EMBARCADERO JOINT VENTURE, a California general partnership with offices at 625 Ellis Street, Mountain View, CA 94043
(“Lessor”). 
 RECITALS 

In connection with that certain Lease dated January 15, 2013 (as amended by that certain First Amendment to Lease dated as of
January    , 2018 (the “First Amendment”) and as may be amended or otherwise modified from time to time, the “Lease”), between Lessor and Lessee, which Lease has been assigned by Guarantor to D-Wave Commercial Inc., a Delaware corporation (“Lessee,” which term shall include its successors and assigns), for premises (the “Premises”) located at 2650 East Bayshore Road, Palo Alto,
California, Lessor is requiring Guarantor to guarantee Lessee’s obligations under the Lease. 
 Guarantor will derive substantial
benefit from the Lease by virtue of owning an interest in Lessee. 
 NOW, THEREFORE, as a material inducement to Lessor’s agreement to
enter into the First Amendment, Guarantor agrees as follows: 
 WITNESSETH: 

1. Guarantor hereby absolutely, unconditionally and irrevocably guarantees to Lessor, and agrees fully to pay, perform and discharge, as and
when payment, performance and discharge are due, all of the covenants, obligations and liabilities of Lessee under the Lease and all amendments, modifications, renewals, extensions, supplements, substitutions and replacements of the Lease arising
from and after the date of this Guaranty (the “Guaranteed Obligations”). The obligations of Guarantor under this Guaranty shall be absolute, unconditional and irrevocable and shall continue and remain in full force and effect until all of
the Guaranteed Obligations have been fully paid, performed and discharged. 
 2. The obligations of Guarantor under this Guaranty shall not
be affected, modified or impaired by the occurrence of any of the following events, whether or not with notice to, or the consent of, Guarantor: (a) the waiver, surrender, compromise, settlement, release or termination of any or all of the
Guaranteed Obligations; (b) the failure to give notice to Guarantor of the occurrence of an event of default under the Guaranteed Obligations; (c) the extension of the time for the payment, performance or discharge of any or all of the
Guaranteed Obligations; (d) the amendment or modification (whether material or otherwise) of the Lease or the Guaranteed Obligations in any respect; (e) any failure, omission, delay or lack on the part of Lessor to enforce, assert or
exercise any right, power or remedy conferred on Lessor under the Lease; (f) the voluntary or involuntary liquidation, dissolution, sale or other disposition of all or substantially all of the assets, marshalling of assets and liabilities,
receivership, insolvency, bankruptcy, assignment for the benefit of creditors, reorganization, arrangement, composition 

  
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with creditors or adjustment of debts, or other similar proceedings affecting Lessee or Guarantor or any of the assets of either of them; (g) the release or discharge by operation of law of
Lessee from the payment, performance or discharge of any or all of the Guaranteed Obligations (unless such release or discharge arises out of Lessor’s material breach of its obligations under the Lease as evidenced by a final judgment of a
court of competent jurisdiction); (h) the release or discharge by operation of law of Guarantor from any or all of the obligations of Guarantor under this Guaranty; or (i) the invalidity or unenforceability of any or all of the Guaranteed
Obligations. Guarantor acknowledges that Lessor would not enter into the Lease without this Guaranty and that Lessor is relying on this Guaranty. 

3. The obligations of Guarantor under this Guaranty are independent of the Guaranteed Obligations. Guarantor agrees that Lessor shall have the
right to proceed against Guarantor directly and independently of Lessee. A separate action may be brought and prosecuted against Guarantor whether or not an action is brought against Lessee or Lessee is joined in any such action. Guarantor
authorizes Lessor and Lessee, without notice to, demand of, or consent from Guarantor and without releasing or affecting Guarantor’s liability under this Guaranty, from time to time to amend, modify, renew, extend, supplement or replace the
Lease or the Guaranteed Obligations or otherwise change the terms of the Lease or the Guaranteed Obligations, to take and hold security for the Guaranteed Obligations, and to enforce, waive, surrender, impair, compromise or release any such security
or any or all of the Guaranteed Obligations or any person or entity liable for any or all of the Guaranteed Obligations. Guarantor shall be and remain bound under this Guaranty notwithstanding any such act or omission by Lessee or Lessor. Guarantor
waives all rights under section 2845 of the California Civil Code and waives the right to require Lessor to proceed against Lessee, to proceed against or exhaust any security held by Lessor, or to pursue any other remedy in Lessor’s power.
Lessor shall have the right to exercise any right or remedy it may have against Lessee or any security held by Lessor. Guarantor waives all rights under section 2849 of the California Civil Code and waives the right, if any, to the benefit of, or to
direct the application of, any security held by Lessor. Guarantor waives (a) any defense arising out of any alteration of the Guaranteed Obligations, (b) any defense arising out of the absence, impairment or loss of any right of
reimbursement or subrogation or other right or remedy of Guarantor against Lessee or any security held by Lessor, and (c) any defense arising by reason of any disability or other defense of Lessee or by reason of the cessation or reduction from
any cause whatsoever of the liability of Lessee other than (a) full payment, performance and discharge of the Guaranteed Obligations, or (b) discharge of the Guaranteed Obligations arising out of a material breach by Lessor of its obligations
under the Lease as evidenced by a final judgment of a court of competent jurisdiction. The cessation or reduction of the liability of Lessee for any reason (other than (a) full payment, performance and discharge of the Guaranteed Obligations, or
(b) discharge of the Guaranteed Obligations arising out of a material breach by Lessor of its obligations under the Lease as evidenced by a final judgment of a court of competent jurisdiction) shall not release or affect in any way the
liability of Guarantor under this Guaranty. 
 4. If Lessee becomes insolvent or is adjudicated bankrupt or files a petition for
reorganization, arrangement, composition or similar relief under any present or future provision of the Federal Bankruptcy Code, or if such a petition is filed against Lessee, or Lessee makes a general assignment for the benefit of creditors, and in
any such proceeding any or all of

  
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 the Guaranteed Obligations are terminated or rejected or any or all of the Guaranteed Obligations are
modified or abrogated, Guarantor agrees that Guarantor’s liability hereunder shall not thereby be affected or modified and such liability shall continue in full force and effect as if no such action or proceeding had occurred. This Guaranty
shall continue to be effective or be reinstated, as the case may be, if any payment of the Guaranteed Obligations must be returned by Lessor upon the insolvency, bankruptcy or reorganization of Lessee, Guarantor, or otherwise, as though such payment
had not been made. 
 5. Guarantor assumes the responsibility for being and keeping Guarantor informed of the financial condition of Lessee
and of all other circumstances bearing upon the risk of failure to pay, perform or discharge any of the Guaranteed Obligations which diligent inquiry would reveal, and Guarantor agrees that Lessor has no duty to advise Guarantor of information known
to Lessor regarding such condition or any such circumstance. Guarantor acknowledges that repeated and successive demands may be made and payments or performance made hereunder in response to such demands as and when, from time to time, Lessee
defaults in the payment, performance or discharge of the Guaranteed Obligations. Notwithstanding any such payments and performance hereunder, this Guaranty shall remain in full force and effect and shall apply to any and all subsequent defaults by
Lessee. It is not necessary for Lessor to inquire into the capacity, authority or powers of Lessee or the partners, directors, officers, employees or agents acting or purporting to act on behalf of Lessee, and all of the Guaranteed Obligations made
or created in reliance upon the purported exercise of such powers shall be guaranteed hereunder. 
 6. If Lessee and Guarantor fail to pay,
perform and discharge, as and when payment, performance and discharge are due, all of the Guaranteed Obligations, Lessor shall have the right, but no obligation, and without releasing Lessee or Guarantor from any of the Guaranteed Obligations, to
pay, perform and discharge any or all of the Guaranteed Obligations on behalf of Lessee and Guarantor. Guarantor shall, on demand, pay to Lessor all sums expended by Lessor in the payment, performance and discharge of the Guaranteed Obligations,
together with interest on all such sums from the date of expenditure to the date all such sums are paid by Lessee or Guarantor to Lessor at the maximum annual interest rate allowed by law for business loans (not primarily for personal, family or
household purposes) not exempt from the usury law on such date of expenditure, or, if there is no such maximum annual interest rate, at the rate of eighteen percent (18%) per annum. Guarantor waives all presentments, demands for performance, notices
of nonperformance, protests, notices of protest, notices of dishonor and notices of acceptance of this Guaranty. Guarantor agrees to pay all costs and expenses, including reasonable attorneys’ fees, which are incurred by Lessor in the
enforcement of this Guaranty. If any provision of this Guaranty is held to be invalid or unenforceable, the validity or enforceability of the other provisions of this Guaranty shall not be affected. This Guaranty may not be amended or modified in
any respect except by a written instrument signed by Guarantor and Lessor. As used in this Guaranty, the singular shall include the plural. This Guaranty shall bind and inure to the benefit of Guarantor and Lessor and their respective transferees,
personal representatives, heirs, successors and assigns. This Guaranty shall be governed by and construed in accordance with the laws of the State of California. 

  
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 7. All notices, demands, requests, advises or designations (“Notices”) which may
be or are required to be given by Lessor to Guarantor hereunder or under the Lease shall be in writing. All Notices to Guarantor shall be sufficiently given, made or delivered if personally served or sent by United States certified or registered
mail, or by overnight courier, postage prepaid, addressed to the address set forth above, or such other address or addresses as Guarantor may specify in writing from time to time. Each Notice shall be deemed received on the date of the personal
service, the day after the sending thereof by overnight courier, or three (3) days after the mailing thereof, in the manner herein provided, as the case may be. 

8. The parties to this Lease agree that the terms of this Guaranty shall be confidential and that the parties shall not disclose the terms
thereof to any third party, except as mutually agreed and except as required by law. Notwithstanding the foregoing, the parties are permitted to disclose the terms of this Guaranty to their respective financial consultants, lenders and prospective
lenders. 
 9. Guarantor represents and warrants to Lessor as follows: 

(a) Guarantor is a corporation, duly organized and in good standing under the federal laws of Canada; 

(b) Guarantor has the full power, authority, legal capacity and legal right to execute and deliver, and to perform and observe the provisions
of, this Guaranty including the payment of all moneys required hereunder; 
 (c) no consent of any person (including any trustee, guardian,
conservator or similar officer for or holder of any obligations of Guarantor), and no consent, license, approval or authorization of, or registration or filing with, any governmental authority, bureau or agency is required in connection with the
execution, delivery and performance of, and payment under, this Guaranty, except to the extent such approvals have been obtained, and the execution, delivery and performance and payment by Guarantor of this Guaranty has been duly authorized by all
requisite action; 
 (d) this Guaranty constitutes the legal, valid and binding obligation of Guarantor enforceable in accordance with its
terms, except as enforcement thereof may be limited by (i) bankruptcy, insolvency, moratorium, reorganization or other similar laws affecting creditors’ rights generally, or (ii) the
non-availability of equitable or legal remedies which are discretionary with the courts; and 
 (e)
the execution, delivery, performance and payment of this Guaranty does not and will not contravene any applicable law, regulation, order or decree, or any provision of any indenture, mortgage, contract or other agreement to which Guarantor is a
party. 
 10. The Parties hereto consent to personal jurisdiction in the County of Santa Clara, California and agree that the exclusive
venue and place of trial for the resolution of any disputes arising in connection with the interpretation or enforcement of this Guaranty shall

  
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be in the courts of the State of California in the County of Santa Clara, or, if such courts do not have jurisdiction, in the United States District Court for the Northern District of California.
The Parties hereby consent to process being served in any suit, action or proceeding commenced in connection with this Agreement by the mailing of a copy thereof by registered or certified mail, postage prepaid, return receipt requested, to the
Party to be served, at its address set forth above, or such other address or addresses as Guarantor may specify in writing from time to time. The Parties irrevocably agree that such service shall be deemed in every respect effective service of
process upon the relevant Party or Parties in any such suit, action or proceeding, and shall, to the fullest extent permitted by law, be taken and held to be valid personal service upon such Party or Parties. Nothing in this paragraph shall affect
the right of a Party to serve process in any manner otherwise permitted by law. 
 IN WITNESS WHEREOF, Guarantor has executed this Guaranty
as of the date first hereinabove written. 
  

			
	 D-WAVE SYSTEMS INC., a Canadian
corporation

		
	By:	 	 /s/ Vern J.Brownell

	Name: Vern J. Brownell
	 Its: President and CEO

  
 - 5 -EX-10.23

 Exhibit 10.23 

THIS LEASE dated the 25th day of July, 2012 

BETWEEN: 
 0727219 B.C. LTD. 

(“Nominee”) 
 and

 PCI BETA HOLDINGS INC. 

(“Beneficial Owner” and together with the Nominee, the “Landlord”) 

and 
 D-WAVE SYSTEMS INC. 
 (“Tenant”) 

BACKGROUND 
  

	A.	 The Nominee is the registered owner and the Beneficial Owner is the beneficial owner of the Lands (as
hereinafter defined) on which the Landlord has constructed a Building (as hereinafter defined). 

  

	B.	 The Landlord has agreed to lease the Building and the Lands to the Tenant on the terms and conditions set out
below. 

 AGREEMENTS 
 For good
and valuable consideration, the receipt and sufficiency of which each party acknowledges, the parties covenant and agree as follows: 

ARTICLE 1 

DEFINITIONS 
 Section 1.1
    Defined Terms 
 In this Lease: 
  

	 	(a)	 “Basic Rent” has the meaning set out in Section 3.2; 

 

	 	(b)	 “Building” means the building located on the Lands, including the heating, ventilating and air
conditioning (“HVAC”), mechanical, electrical and plumbing systems, back-up power generators and related equipment in or on the Building, and all other base building systems, including but not
limited to those listed in Exhibit A, and the Storage Tanks, excluding the Tenant’s trade fixtures and personal property; 

	 	(c)	 “Environmental Reports” means: 

 

	 	(i)	 Stage 1 Preliminary Site Investigation, 3033 Beta Avenue, Burnaby, B.C., prepared by Keystone Environmental
Ltd., dated June 18, 2012: and 

  

	 	(ii)	 Stage 2 Preliminary Site Investigation, 3033 Beta Avenue, Burnaby, B.C., prepared by Keystone Environmental
Ltd, dated June 21, 2012; 

  

	 	(d)	 “HST” means the “harmonized sales tax” or any similar or replacement sales tax,
value added tax, multi-stage tax, goods and services tax, business transfer tax, whatsoever called payable under the Excise Tax Act (Canada) or any replacement legislation; 

 

	 	(e)	 “Hazardous Substance” means any substance which, when released into the Building or any part
thereof, or into the natural environment, is likely to cause, at any time, material harm or degradation to the Building or the Lands or any part of either of them, or to the natural environment or material risk to human health, and includes, without
limitation, any flammables, explosives, radioactive materials, asbestos, polychlorinated biphenyls, chlorofluorocarbons, hydro chlorofluorocarbons, urea formaldehyde foam insulation, radon gas, chemicals known to cause cancer or other toxicity,
pollutants, contaminants, hazardous wastes, toxic substances or related materials, petroleum and petroleum products, or any substance declared to be hazardous or toxic or a pollutant, dangerous good, deleterious substance, effluent, hazardous waste
or special waste, or words of similar meaning under any laws now or hereafter enacted, which affect or apply to the Building, the Landlord, the Tenant, or any of them; 

 

	 	(f)	 “Lands” means the lands described as: 

Parcel Identifier: 003-021-700 

Lot 48, District Lot 70, Group 1 

New Westminster District Plan 62014 

(3033 Beta Ave, Burnaby, British Columbia); 
  

	 	(g)	 “Operating Costs” means, without duplication, the reasonable costs, fees and expenses incurred
by or on behalf of the Landlord for the maintenance, repair, management and operation of the Lands and the Building in a first class manner and condition including, without limitation: 

 

	 	(i)	 the cost of maintenance, repairs and replacements of or to the Building and other improvements on the Lands
that, in accordance with generally accepted accounting principles, are chargeable to operating expenses as distinguished from capital repairs or replacements; 

 

	 	(ii)	 the cost of gardening, landscaping, ice and snow removal and waste and garbage removal; 

 

	 	(iii)	 the cost of window cleaning; 

  
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	 	(iv)	 the cost of utilities and water and sewer charges billed to the Landlord for the Premises;

  

	 	(v)	 the cost of maintenance contracts for heating, ventilating and
air-conditioning equipment and any other building systems; 

  

	 	(vi)	 an amount for depreciation of the capital cost of replacements made by the Landlord during the Term to HVAC
systems or the back-up power generator and related equipment in or on the Building, such depreciation to be at rates determined according to generally accepted accounting principles and based on an estimated
useful life of fifteen (15) years from the date of completion of the replacement; 

  

	 	(vii)	 the cost of the Landlord’s premiums for the insurance policies required pursuant to Section
Section 5.1; 

  

	 	(viii)	 sign rental costs; 

  

	 	(ix)	 parking lot cleaning, lining and repair; and 

 

	 	(x)	 a management fee of three percent (3%) of the Basic Rent, Operating Costs and Realty Taxes as described herein;

 but excluding: 
  

	 	(xi)	 the cost of capital replacements to the structure of the Building, including, without limitation, the
foundations, bearing walls, roof and roof structure (but expressly excluding the roof membrane), save and except: 

  

	 	(xii)	 where such replacements are caused or necessitated by the actions and/or negligence of the Tenant or those for
whom in law it is responsible, and 

  

	 	(A)	 for depreciation referred to in Section 1.1 (g)(vi) of this definition, 

in which in each of the foregoing cases the applicable cost shall be included in “Operating Costs”; 

 

	 	(B)	 interest on or principal repayments of debt; 

 

	 	(C)	 costs in respect of which the Landlord is reimbursed by proceeds of insurance; 

 

	 	(D)	 costs incurred in respect of the Landlord’s negligence; 

 

	 	(E)	 costs of repairs and maintenance to the extent covered by guarantees or warranties; and 

 

	 	(F)	 janitorial service, in the event such service is managed directly by the Tenant; 

  
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	 	(h)	 “Premises” means the Building and the Lands; 

 

	 	(i)	 “Realty Taxes” means all taxes, rates, duties, levies and assessments whatsoever whether
municipal, provincial or federal which are now or in the future levied, charged or assessed upon the Premises or upon any part or parts thereof and all improvements now or hereafter erected or placed on the Lands, or charged against the Landlord on
account thereof, and those levied, imposed, assessed. charged or rated for education, schools. parking, local improvements. public works or for any other public purpose, but excluding any taxes which are personal to the Landlord, such as capital
taxes or taxes assessed on the income of the Landlord. Realty Taxes shall also include all reasonable costs and expenses incurred by the Landlord in obtaining or attempting to obtain a reduction or prevent an increase in the amount of such Realty
Taxes and the reasonable costs of all consultants retained by the Landlord in connection therewith; 

  

	 	(j)	 “Rentable Area” is equal to 42,281 square feet; 

 

	 	(k)	 “Storage Tanks” means the existing underground storage tanks located on the Lands; and

  

	 	(l)	 “Term” means the term commencing on the 1st day of July, 2013 (“Commencement Date”) and expiring on the 30th day of June, 2023 subject to Section 2.2 and Section 2.3. 

ARTICLE2 
 DEMISE AND
TERM 
 Section 2.1     Demise 

The Landlord leases the Premises to the Tenant for the Term, and the Tenant leases the Premises from the Landlord for the Term, subject to all encumbrances
registered against title to the Lands in the Land Title Office and subject to the terms of this Lease. 
 Section 2.2
    Extension 
 If the Tenant is not then in default of this Lease beyond any applicable cure period, it may by giving
written notice to the Landlord not earlier than fifteen (15) months and not later than twelve (12) months before the expiry of the Term or the first extension thereof in accordance with this Section 2.2, extend the term of this Lease
for a further term of five (5) years on the same terms and conditions of this Lease, except the Basic Rent will be the fair market rent for the Premises as at the commencement date of the extension period in the state in which they are required
to be maintained under the terms of this Lease, but shall exclude the value of any leasehold improvements made by the Tenant, at the Tenant’s cost, after the Commencement Date, such Basic Rent to be as agreed upon by the Landlord and the Tenant
not later than three (3) months prior to the expiry of the Term or the first ex1ension term, as the case may be, and, failing such agreement by such date, as determined by a single arbitrator in accordance with the Commercial Arbitration Act
(B.C.). The Landlord and the Tenant acknowledge and agree that 

  
 - 4 - 

 
pursuant to this Section 2.2, the Tenant is given the option of renewing the Term only for two extension terms of five (5) years each, and at the expiry of the second extension term, if
applicable, there will be no further rights of renewal or extension. 
 Section 2.3     Tenant Termination Right 

The Tenant will have the right to terminate this Lease on July 1, 2019 by providing the Landlord with at least twelve (12) months prior
written notice and payment upon serving such notice of nine (9) months Basic Rent, Operating Costs and Realty Taxes (“Termination Payment”). For greater clarity, if the Tenant exercises this termination right, the Termination
Payment will be in addition to, and will not be applicable to, any rent payable under the terms of this Lease until termination of this Lease on July 1, 2019. 

Section 2.4     Security Deposit 

The Tenant shall provide a security deposit as follows: 
  

	 	(a)	 a cheque for two (2) months gross rent (Basic Rent plus Operating Costs and Realty Taxes (collectively,
the “Gross Rent”)) plus HST, payable to the Landlord shall be tendered within two (2) business days after both parties have fully executed this Lease; and 

 

	 	(b)	 the amount of five (5) months Gross Rent plus HST, shall be held back from the payment of the Tl Allowance
from the Landlord to the Tenant pursuant to Section 2.7 of this Lease, 

 (collectively, the
“Deposit”), 
 to be held as a security deposit in accordance with the Lease to be applied to the costs or losses incurred by the Landlord
with respect to any uncured default by the Tenant pursuant to the Lease and to be repaid to the Tenant (plus interest from the date it was paid to the Landlord until the date it is repaid to the Tenant, calculated based on the Bank of Canada rates
applicable during the period it was held by the Landlord) within a reasonable period of time after termination of this Lease less any deduction for amounts then owed by the Tenant to the Landlord in respect of the Lease. Notwithstanding the
foregoing, provided that the Tenant has not been in uncured default of any of the terms or conditions of this Lease, the Landlord shall refund to the Tenant: (i) the amount of one (1) months Gross Rent within thirty (30) days of the
first anniversary of the Commencement Date; (ii) the amount of two (2) months Gross Rent within thirty (30) days of the second anniversary of the Commencement Date; and (iii) the amount of two (2) months Gross Rent within
thirty (30) days of the third anniversary of the Commencement Date, provided that, for greater certainty, the Landlord shall continue to hold the remaining amount of the Deposit, being two (2) months Gross Rent, throughout the Term in
accordance with this Section 2.4. 
 Section 2.5     Fixturing Period 

Provided that the Tenant is not in breach of any of its obligations under this Lease beyond any applicable cure period, the Tenant may occupy the Premises from
August 1, 2012 (the 

  
 - 5 - 

 
“Possession Date”) to the Commencement Date (the “Fixturing Period”), for the purposes of improving the Premises to carry out its business, including completion
of the Tenant Improvements described below. During the Fixturing Period, the Landlord and the Tenant shall be bound by all the provisions of the Lease, saving those requiring payment of Basic Rent, Operating Costs and Realty Taxes; provided,
however, that the Tenant will be required to pay its own utility costs, insurance costs and garbage removal costs during the Fixturing Period. Should the Tenant begin operating its business on the Premises prior to the Commencement Date, the Tenant
shall provide the Landlord with certificates of insurance evidencing the placement by the Tenant of the insurance policies required by the Landlord to be placed by the Tenant pursuant to this Lease. 

Section 2.6     Tenant’s Improvements 

Except for the Landlord’s Work and as otherwise provided in this Lease, the Tenant shall be responsible, at its sole cost and option, for all leasehold
improvements to the Premises in order to finish the Premises in a sufficient manner to allow the Tenant to conduct its business (the “Tenant’s Work”). The Tenant shall submit working drawings and specifications of the
Tenant’s Work to the Landlord for the Landlord’s prior written approval, such approval not to be unreasonably withheld, conditioned or delayed. The Landlord shall provide its written approval (or explanation for any withholding of
approval) to the Tenant within ten (10) business days of receiving such drawings and specifications. The Tenant shall have the right to build a bike rack to be covered and enclosed (lockable for security) in a
non-intrusive location on the Lands selected in consultation with the Landlord acting reasonably and subject to any required city approvals. 

Section 2.7     Tenant Improvement Allowance 

Provided the Tenant has taken occupancy of the Premises, and the Tenant is not in breach of any of its obligations under this Lease beyond any applicable cure
period, the Landlord will pay to the Tenant, as a contribution towards the cost of the Tenant rendering the Premises fit for its purposes (the “Tenant Improvements”), Thirty Five Dollars ($35.00) per square foot of the Rentable Area
of the Premises (the “Tl Allowance”), subject to the holdback from the Tl Allowance in accordance with Section 2.4(b). The Tl Allowance shall be payable by the Landlord upon the later of the following: 

 

	 	(a)	 this Lease, and any documents related thereto, shall have been executed and delivered by the Tenant and
delivered to the Landlord; 

  

	 	(b)	 the Tenant shall have provided to the Landlord original copies of invoices paid by the Tenant in respect of the
Tenant Improvements in an amount equal to or exceeding the amount claimed for reimbursement; 

  

	 	(c)	 the Tenant shall have provided the Landlord with a statutory declaration of a senior officer of the Tenant
confirming that all of the Tenant’s contractors, sub-trades, workmen and suppliers have been paid in full and that no liens arising from the Tenant Improvements have been or may be placed against the
Premises and/or the Lands; 

  
 - 6 - 

	 	(d)	 the Landlord being satisfied that all statutory lien periods in respect of the Tenant Improvements have expired
and no liens have been registered, filed or claimed in respect of any of the Tenant Improvements against the Premises and/or the Lands; 

  

	 	(e)	 the Tenant shall have provided to the Landlord as built drawings in respect of the Tenant Improvements in a
form and content satisfactory to the Landlord; 

  

	 	(f)	 the Tenant shall have obtained an occupancy permit from the City of Burnaby for the Premises and the Tenant
shall be in occupation of the whole of the Premises; 

  

	 	(g)	 the Tenant shall have provided to the Landlord a WorkSafe BC clearance letter and/or certificate in respect of
the Tenant’s general contractor and/or its sub-trades confirming that the general contractor and/or sub-trades are active, in good standing, and have met the
WorkSafe BC’s criteria for advance clearance; and 

  

	 	(h)	 the Commencement Date. 

The Tenant expressly acknowledges and agrees that the obligation of the Landlord to provide the Tl Allowance pursuant to this Section 2.7 is exclusive
and personal to the Tenant. The Tenant agrees that it shall be liable for and shall pay as and when due all amounts due and payable on account of the Tenant’s Work and the Tenant Improvements notwithstanding its entitlement to the Tl Allowance.
Subject to the receipt of the Landlord’s approval pursuant to Section 2.6, the Landlord and the Tenant agree that the Tenant may use the Tl Allowance to install non-standard leasehold improvements,
including any specific equipment required for the operation of the Tenant’s business. 
 Section 2.8     Landlord’s
Work 
 On or before the Commencement Date, the Landlord shall at its cost professionally clean the brick facade of the building and upgrade the
landscaping of the project in consultation with the Tenant, with both the Tenant and Landlord acting reasonably regarding the scope of the exterior upgrade work. 

ARTICLE 3 
 RENT

 Section 3.1     Intent of Lease 

This is a carefree net lease to the Landlord, and it is the mutual intention of the parties hereto that the Basic Rent to be paid hereunder shall be net to the
Landlord, clear of all taxes, costs and charges arising from or relating to the Premises. 

  
 - 7 - 

 Section 3.2     Basic Rent 

During the Term the Tenant will pay to the Landlord, at such place as the Landlord designates and, except as may otherwise be set out in this Lease, without
deduction, set off or abatement whatsoever, rent (the “Basic Rent”) as follows: 
  

	 	(a)	 From July 1, 2013 to June 30, 2018: Seven Hundred Thirty Nine Thousand Nine Hundred Seventeen Dollars
and Fifty Cents ($739,917.50) per annum (based on Seventeen Dollars and Fifty Cents ($17.50) per square foot of Rentable Area of the Premises), plus HST thereon payable in equal consecutive monthly instalments of Sixty One Thousand Six Hundred Fifty
Nine Dollars and Seventy Nine Cents ($61,659.79) plus HST in advance on the first day of each calendar month; 

  

	 	(b)	 From July 1, 2018 to June 30, 2023: Eight Hundred Twenty Four Thousand Four Hundred Seventy Nine
Dollars and Fifty Cents ($824,479.50) per annum (based on Nineteen Dollars and Fifty Cents ($19.50) per square foot of Rentable Area of the Premises), plus HST thereon payable in equal consecutive monthly instalments of Sixty Eight Thousand Seven
Hundred Six Dollars and Sixty Three Cents ($68,706.63) plus HST in advance on the first day of each calendar month. 

 If the Term
commences on any day other than the first or ends on any day other than the last day of a calendar month, all Rent for the fractions of a month at the commencement or expiration of the Term shall be pro-rated
on a per diem basis based on a period of three hundred sixty five (365) days or three hundred sixty six (366) days, as the case may be. 

Section 3.3     Operating Costs 
  

	 	(a)	 Throughout the Term, the Tenant shall pay to the Landlord monthly instalments on account of Operating Costs,
plus applicable HST, which are preliminarily estimated to be Twenty Thousand Six Hundred One Dollars and Seventy Nine Cents ($20,601.79) per month. 

  

	 	(b)	 Upon reasonable prior written notice to the Tenant, the Landlord may adjust the amount of such monthly payments
from time to time during the Term, so that the aggregate of such payments will reasonably approximate the Operating Costs for the same period. 

  

	 	(c)	 It is understood and agreed that the amount referred to in Section 3.3(a) is only an estimated amount.
Within sixty (60) days after each lease year during the Term and within sixty (60) days after the expiration or earlier termination of this Lease, the Landlord shall deliver a detailed statement itemizing all components of the Operating
Costs for the previous twelve (12) months and the Tenant shall pay to the Landlord, or the Landlord shall repay to the Tenant, after the Landlord’s determination of Operating Costs for such period, the amount by which the actual Operating
Costs payable, as calculated by the Landlord, exceeds, or is exceeded by, as the case may be, the estimated Operating Costs received by the Landlord for that period. 

  
 - 8 - 

	 	(d)	 Subject to Section 6.4 and Section 6.6, and Tenant’s obligations under Section 6.1, the
Landlord will operate, maintain, repair and replace the Premises in the same state as on the Commencement Date, subject to reasonable wear and tear, and the cost thereof shall be included in Operating Costs payable by the Tenant pursuant to this
Lease. 

  

	 	(e)	 By written notice to the Landlord, the Tenant may designate all or a portion of the Premises as an area for
which the Tenant will provide its own janitorial services, at the Tenant’s own cost, and any such area will be excluded from the calculation of the Tenant’s proportionate share of such services in the Operating Costs.

 Section 3.4     Realty Taxes 

 

	 	(a)	 The Landlord shall pay to the taxing authority as and when due all Realty Taxes that may be levied, rated,
charged or assessed against the Premises. Any penalties incurred as a result of the Landlord’s delay in paying any Realty Taxes shall be the sole expense of the Landlord. 

 

	 	(b)	 The Tenant shall, on the first day of each and every month during the Term and within the time or times
hereinafter provided, pay directly to the Landlord or as the Landlord may direct from time to time, the amount the Landlord may reasonably require so that on the date the Realty Taxes are due and payable to the taxing authority, the Tenant shall
have paid to the Landlord the full amount of the Realty Taxes then due in respect of Realty Taxes for the Premises. Such amount is preliminarily estimated to be Nine Thousand Four Hundred Twenty Four Dollars and Seventy One Cents ($9,424.71)
monthly. 

  

	 	(c)	 The Tenant agrees to provide the Landlord within ten (10) business days after demand therefor by the
Landlord with a copy of any Realty Tax bills and real property assessment notices for the Premises received by the Tenant. The Tenant will, upon request, promptly deliver to the Landlord receipts for payment of all such Realty Taxes paid to any such
taxing authorities, as aforesaid, and will furnish and deliver all such other information in connection therewith as the Landlord may reasonably require. 

  

	 	(d)	 The amount referred to in Section 3.4(b) is only an estimated amount. The Landlord may amend such
estimated amount for such period or periods as the Landlord may reasonably determine from time to time, and the Tenant shall pay to the Landlord the amended estimated amount in monthly instalments in advance during such period, together with all
other rental payments provided for in this Lease. When the final real property tax bill in any year has been received, which relates to the period for which payments have been made by the Tenant pursuant to this Section 3.4, the parties hereto
agree to adjust all payments made by the Tenant on account of Realty Taxes in accordance with such final Realty Tax bill. If the actual amount of the Realty Taxes is different than the payments made by the Tenant on account thereof, the Tenant shall
pay the amount of any underpayment to the Landlord, or the Landlord will refund the amount of any overpayment to the Tenant, as the case may be, within ten (10) business days of written request. 

  
 - 9 - 

 Section 3.5     Business Taxes 

In each and every year during the Term, the Tenant shall pay and discharge when the same becomes due and payable, all taxes, rates, duties, assessments and
other charges that may be levied, rated, charged or assessed against or in respect of all improvements, equipment and facilities on or in the Premises and every tax and licence fee in respect of any and every business carried on thereon or therein
or in respect of the use or occupancy thereof by the Tenant and any and every permitted occupant of the Premises (other than corporate income, profits or excess profit taxes assessed upon the income of the Landlord), whether any such assessment tax,
rate, duty or licence fee is charged by any federal, municipal, provincial, school or other bodies during the Term. 
 ARTICLE 4 

USE OF PREMISES AND TENANT COVENANTS 

Section 4.1     Permitted Use 

The Tenant will use the Premises solely for the purpose of general office use, a computer physics laboratory and product assembly, and for ancillary uses. The
Tenant will not use the Premises or permit them to be used for any other purpose without the Landlord’s prior written consent, not to be unreasonably withheld, nor for any unlawful purpose. 

Section 4.2     Parking 

The Tenant will be entitled to the use of all outdoor parking spaces on the Lands. Starting on the Commencement Date, the Tenant shall pay the Landlord Fifty
Dollars ($50.00) per month for each stall, which may be adjusted annually by the Landlord based on the Government of Canada published City of Vancouver Consumer Price Index. 

Section 4.3     Tenant Covenants 

The Tenant agrees as follows: 
  

	 	(a)	 to operate the Premises in a good, efficient and business-like manner in the best interests of the Building,
and in compliance with all applicable laws, ordinances, rules and regulations of governmental authorities; 

  

	 	(b)	 to keep the Premises in a clean, orderly and sanitary condition, and to repaint and redecorate at reasonable
intervals; 

  

	 	(c)	 to comply with all reasonable requests of the Landlord relating to energy conservation that do not unreasonably
interfere with the Tenant’s business; 

  

	 	(d)	 to pay directly to the supplier when due all charges for any utilities separately metered and billed to the
Tenant, or that the Landlord directs the Tenant to pay directly; 

  
 - 10 - 

	 	(e)	 not to damage, or impair the efficient and proper operation of the Building, the Lands or any equipment located
on them; 

  

	 	(f)	 not to commit or permit to be committed waste upon the Premises or any nuisance; 

 

	 	(g)	 subject to the Landlord’s compliance with the Tenant’s standard protocol with respect to entering
restricted portions of the Premises and with the proviso that the Tenant may refuse entry to any person on any reasonable and lawful basis, including but not limited to compliance with applicable laws or the Tenant’s contractual obligations to
third parties, to allow the Landlord upon two (2) business days prior written notice (except in an emergency when no notice is required) to enter the Premises at any reasonable time or times, with as little interference to the conduct of the
Tenant’s business as is reasonably possible, to enable the Landlord to inspect the Premises and comply with or cause the Tenant to comply with any laws now or in the future applicable to the Premises whether or not the application of the laws
to the Premises results from an act or omission of the Landlord or any other person; 

  

	 	(h)	 if the Tenant has knowledge, or has reasonable cause to believe, that any Hazardous Substances has come to be
located on, under or above the Premises, to give written notice of such condition to the Landlord; 

  

	 	(i)	 if the Landlord has reasonable cause to believe that the Premises have become contaminated with any Hazardous
Substances, to allow the Landlord upon reasonable prior notice (except in an emergency when no notice is required) to enter the Premises and obtain samples from the Premises for the purpose of analyzing the same to determine whether and to what
extent the Premises or the environment have become so contaminated and to the extent that contamination is found and that such contamination was caused by the Tenant or by those for whom in law the Tenant is responsible, to reimburse the Landlord
for the costs of such inspection, sampling and analysis. The Landlord shall immediately clean-up or ensure the immediate clean-up, of any release of the contaminant which was not caused by the Tenant or by
those for whom in law the Tenant is responsible (which clean-up shall include any necessary restoration or remediation to a condition that complies with any and all government regulations and where the release
was not caused by the Tenant or by those for whom in law the Tenant is responsible, the Tenant shall not incur any costs or expenses associated with such clean-up or restoration or remediation);

  

	 	(j)	 to provide the Landlord annually upon request, the Tenant’s policy and operating procedures relating to
the generation, use, manufacture, storage, handling, transfer, treatment, refining, processing and production of Hazardous Substances on or in the Premises, including spill reporting requirements, inventory and waste manifests; and

  

	 	(k)	 to indemnify and save harmless the Landlord and its directors, officers, employees and agents from and against
any and all claims, losses, liabilities, damages, costs and expenses, including without limitation, legal fees and costs on a solicitor and own client basis arising out of or in any way connected with the

  
 - 11 - 

	 	
use, generation, storage, escape, seepage, leakage, spillage, release, discharge, disposal or presence on, under, about or from the Premises, the Lands or the Building of any Hazardous Substances
during the Term by the Tenant, its employees, agents, invitees, contractors or any others under the control of the Tenant or for whom the Tenant is responsible in law including, without limitation, the cost of any required or necessary repair,
remediation or detoxification and preparation of any closure or other required plans in connection therewith and such indemnity obligations of the Tenant will survive the expiry or sooner termination of this Lease. 

ARTICLE 5 
 INSURANCE
AND INDEMNITY 
 Section 5.1     Landlord’s Insurance 

The Landlord will take out and keep in force, as would a prudent owner of similar premises, comprehensive general liability insurance (which shall be secondary
to the Tenant’s liability insurance as to the acts and omissions of the Tenant and those for whom the Tenant is in law liable) and all risks property insurance on the Building (excluding leasehold improvements) and such other forms of
insurance, as the Landlord or its mortgagee reasonably considers necessary to the full extent of the replacement value. The Landlord’s property insurance policies shall contain a waiver of subrogation against the Tenant, its agents, employees
and those for whom it is in law responsible. The Tenant is not relieved of any liability arising from its acts, fault, negligence or omissions and no insurable interest is conferred on the Tenant under the Landlord’s policies nor does the
Tenant have the right to receive any proceeds under the policies. 
 Section 5.2     Tenant’s Insurance 

The Tenant at its expense will provide and maintain in force during the Term the following insurance: 

 

	 	(a)	 comprehensive general liability insurance concerning the Premises and the Tenant’s business of not less
than Five Million Dollars ($5,000,000.00) per occurrence; the insurance will include, without limitation, liability for personal injury or death, contractual liability, property damage and contingent employer’s liability and will name the
Landlord and its mortgagee as additional insured; 

  

	 	(b)	 all risks (including flood, sewer and drain back-up, earthquake and
sprinkler leakage) property insurance on insurable property including merchandise, furniture, fixtures and leasehold improvements, to the full replacement value, on a stated amount coinsurance basis, with a reasonable deductible;

  

	 	(c)	 broad comprehensive boiler and machinery insurance on all objects owned or operated by the Tenant or others on
behalf of the Tenant on the Premises; and 

  

	 	(d)	 business interruption insurance providing coverage for twelve (12) months loss of insurable gross earning
or profit. 

  
 - 12 - 

 Section 5.3     Insurance Terms 

Any policy of insurance under Section 5.2 will name the Landlord as an additional insured, contain a waiver of subrogation in favour of the Landlord and
its employees, agents and mortgagee, incorporate the standard mortgage clause, contain a cross-liability clause in favour of the Landlord and its mortgagee where it is named, be in a form and with insurers satisfactory to the Landlord, and contain a
clause requiring the insurer not to cancel or change the insurance without first giving the Landlord fifteen (15) days prior written notice. The Tenant agrees to provide the Landlord with certificates of insurance required by this Lease. 

Section 5.4     Tenant’s Contractor’s Insurance 

The Tenant will require any contractor performing work on the Premises to carry and maintain, at no expense to the Landlord, comprehensive general liability
insurance and other insurance in amounts and on terms reasonably determined by the Landlord, and to provide the Landlord with satisfactory proof of that insurance from time to time. 

Section 5.5     Landlord’s Right to Insure 

If the Tenant does not provide or maintain in force the insurance required under this Lease or provide proof of the insurance when requested by the Landlord,
the Landlord may take out the necessary insurance and pay the premiums, and the Tenant will pay to the Landlord the amount of such premium on the next succeeding rental payment date. 

Section 5.6     Acts Conflicting with Insurance 

The Tenant will not do or permit to be done any act or thing, which may render void or conflict with any policy of insurance, including any applicable
regulations of fire insurance underwriters, by which the Premises or the Building are insured. If any such policies are cancelled or reduced, or threatened to be cancelled or reduced, by reason of any act or omission of the Tenant, the Landlord will
have the right at its option to place such insurance at the expense of the Tenant and to remedy the circumstances which may prevent the issuance of the insurance. If the premium paid in respect of any policy is increased by any act or omission of
the Tenant, upon receipt of written evidence of such increase, the Tenant will pay to the Landlord at the Landlord’s option on the next succeeding rental payment date the amount by which the premium has been increased. All of the remedies of
the Landlord in this Section 5.6 may be taken without limiting or affecting any other right or remedy in this Lease. 

Section 5.7     Indemnity 

The Tenant will indemnify the Landlord and save it harmless from and against all claims, actions, damages, liabilities, costs and expenses in connection with
loss of life, personal injury or damage to property arising from any occurrence on the Premises or occupancy or use of the Premises, occasioned wholly or in part by an act or omission of the Tenant, its officers, employees, agents, customers,
contractors or other invitees, except caused by the negligence, wilful act or omission of the Landlord, and those for whom is it in law responsible. The provisions of this Section 5.7 will survive the expiry or sooner termination of the Lease.

  
 - 13 - 

 Section 5.8     Mutual Release 

 

	 	(a)	 Notwithstanding Section 5.7, each of the Landlord and the Tenant hereby releases the other and waives all
claims against the other and those for whom the other is at law responsible with respect to occurrences insured against or required to be insured against by the releasing party, whether any such claims arise as a result of the negligence or
otherwise of the other or those for whom it is in law responsible. Such release and waiver shall be effective only to the extent of proceeds of insurance received by the releasing party and proceeds which would have been received if the releasing
party obtained all insurance required to be obtained by it under this Lease and for this purpose deductible amounts shall be deemed to be proceeds of insurance not received. 

 

	 	(b)	 Notwithstanding anything to the contrary in this Section 5.8, the Landlord and the Tenant shall each be
liable to any third party (being any person other than the Landlord and the Tenant and their respective insurers) to the extent of their respective fault or negligence and each shall be entitled to full indemnity and contribution from the other to
the extent of the other’s fault or negligence. 

 Section 5.9     Limitation of Landlord’s
Liability 
 The Landlord shall deliver the base building systems, the HVAC and the back-up power generator
and related equipment in or on the Building, including but not limited to those items listed in Exhibit A, in good working order with relevant reports as applicable confirming the same; PROVIDED, HOWEVER, that the Landlord shall not be responsible
or liable for damages at any time for any defects, latent or otherwise, in, or any breakdown of or interruption of, any of the equipment, machinery, utilities, appliances, or apparatus in the Building, nor shall the Landlord be responsible or liable
for damages at any time for loss of life, or injury or damage to any person or to any property or business of the Tenant, or those claiming by, through, or under the Tenant, caused by or resulting from the bursting, breaking, leaking, running,
seeping, overflowing, or backing up of water, steam, gas, sewage, snow, or ice in any part of the Premises or caused by or resulting from acts of God or the elements, or resulting from any defect or negligence in the occupancy, construction,
operation, or use of the Premises, or any of the equipment, fixtures machinery, appliances, or apparatus therein, provided in all such events the Landlord shall use commercially reasonable efforts to complete any required repairs as quickly as
possible. 
 ARTICLE 6 

MAINTENANCE, REPAIRS. ALTERATIONS AND FIXTURES 

Section 6.1     Tenant’s Maintenance and Repairs 

The Tenant will at its cost: 
  

	 	(a)	 subject to Section 6.4 and Section 6.6 keep the interior of the Building, including leasehold
improvements, all the Tenant’s trade fixtures and personal property, and all interior and exterior glass windows and partitions, in good repair to the condition as of the Commencement Date, subject to reasonable wear and tear;

  
 - 14 - 

	 	(b)	 subject to compliance with the Tenant’s standard protocol with respect to entering restricted portions of
the Premises and with the proviso that the Tenant may refuse entry to any person on any reasonable and lawful basis, including but not limited to compliance with applicable laws or the Tenant’s contractual obligations to third parties, permit
the Landlord upon two (2) business days prior written notice to enter and view the state of repair and maintenance of the Building, and will make such repairs and replacements as are the responsibility of the Tenant under this Lease, in a good
and workmanlike manner as the Landlord may reasonably require by notice in writing within thirty (30) days of receipt of such notice, or within such longer time as may be reasonable given the nature of the repair, and if the Tenant neglects to
do so, the Landlord may reasonably enter the Building and make such repairs and replacements and all expenses in so doing will be recoverable as rent in arrears under this Lease; 

 

	 	(c)	 reimburse the Landlord within ten (10) business days of written request for the repair of any damage caused to
any part of the Premises caused by or through the wilful act, negligence or omission of the Tenant, and others for whom it is responsible under law, and all reasonable expenses incurred by the Landlord in so doing will be recoverable as rent in
arrears under this Lease; and 

  

	 	(d)	 discharge any liens and other encumbrances filed at any time against the Premises by reason of any act of the
Tenant, its officers, employees, agents, customers, contractors or other invitees within fifteen (15) business days of notice thereof and if the Tenant fails to do so the Landlord may at its option pay into Court the amount required to obtain a
discharge of any such lien and any amount so paid including costs and disbursements on a solicitor client basis will be payable by the Tenant to the Landlord and recoverable by the Landlord as rent; the Tenant acknowledges that the Landlord may file
a notice of interest in the applicable land title office under the provisions of the Builders Lien Act or any legislation in amendment or substitution thereof evidencing that the Landlord is not responsible for any of the Tenant’s
improvements; the Tenant agrees to cooperate with the Landlord in respect of the same and, if necessary, to execute and deliver all other instruments and take any actions necessary to give effect to the same. 

Section 6.2     Alterations. Installations and Fixtures  

The Tenant will make no alterations, repairs, installations, removals, improvements, change any locks, install any fixtures or leasehold improvements in or
about the Premises, or do anything which may affect the proper operation of the Building, without the Landlord’s prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed and only after the Tenant has
submitted applicable plans and specifications and after the Tenant has obtained all necessary permits and approvals. All such alterations, repairs, improvements, and installations of fixtures and improvements in the nature of floor and wall
covering, light fixtures, partitions, built-in furniture and other leasehold improvements, when completed will be the property of the Landlord, without compensation to the Tenant, but the Landlord will have no
responsibility for the repair, replacement, operation, maintenance or insurance of leasehold improvements, which will remain the responsibility of the Tenant The Tenant shall not be permitted access to the roof of the Building without the prior
consent of the Landlord, not to be 

  
 - 15 - 

 
unreasonably withheld. The Landlord hereby authorizes the Tenant upon the event of any disruption of HVAC service, to notify directly the HVAC maintenance contractors subject to the Tenant
promptly advising the Landlord by notice of the aforesaid disruption and of the aforesaid notification of the maintenance contractor. 

Section 6.3     Abatement of Rent 

If there is damage to the Building, which prevents use of or access to the Building, and if the damage is such that the Building is rendered not reasonably
capable for use by the Tenant for a period exceeding ten (10) consecutive days: 
  

	 	(a)	 unless the damage was caused by the negligence of fault of the Tenant, its officers, employees, agents,
customers, contractors or other invitees or those under the control of the Tenant or for whom the Tenant is responsible in law, then the Basic Rent. Operating Costs and Realty Taxes will abate in the proportion that the part of the Building rendered
unfit for occupancy bears to the whole of the Building until the Building is rebuilt; and 

  

	 	(b)	 unless this Lease is terminated under Section 6.4, the Landlord or the Tenant or both, as the case may be
according to their obligations to repair under this Lease, will repair the damage with reasonable diligence. 

Section 6.4     Termination in Event of Damage 

If any part of the Building is damaged or destroyed by any cause, within thirty (30) days after such damage or destruction occurs, the Landlord will
provide the Tenant with written notice, in the reasonable opinion of the Landlord’s architect, of when the Building can be rebuilt or made fit for the purpose of the Tenant. If the Building cannot be rebuilt or made fit for the purpose of the
Tenant within one hundred and twenty (120) days, the Landlord or the Tenant may, at its option within thirty (30) days after such notice is given, terminate this Lease by giving the other party written notice of termination. If the Lease
is terminated under this Section 6.4, neither the Tenant nor the Landlord will be obligated to repair as provided under this Lease, the Tenant will deliver vacant possession of the Premises to the Landlord within thirty (30) days after
receipt of the notice of termination, and all rent will be apportioned and paid to the date on which possession is delivered, subject to any abatement to which the Tenant is entitled under Section 6.3. If no termination notice is given, the
Landlord or the Tenant or both, as the case may be according to their obligations to repair under this Lease, will repair the damage with reasonable diligence. 

Section 6.5     Tenant’s Remedies 

If the Landlord shall default in the performance or observance of any covenant of maintenance, repair or replacement under this Lease on its part to be
performed or observed, and shall not cure such default within thirty (30) days after notice from the Tenant specifying the default (or within such longer time as may be reasonable given the nature of the default, provided the Landlord commences
to cure within such thirty (30) day period) then, the Tenant may, at its option, without waiving any claim for damages for the default, at any time thereafter cure such default for the account of the Landlord, and any reasonable amount paid or
incurred by the 

  
 - 16 - 

 
Tenant in so doing shall be deemed paid or incurred for the account of the Landlord, and the Landlord agrees to forthwith reimburse the Tenant therefore. 

Section 6.6     Capital and Structural Repairs 

The Landlord shall be responsible at its sole cost and expense, with no additional charge to the Tenant except to the extent such costs and expenses are
included in Operating Costs or unless caused or necessitated by the actions and/or negligence of the Tenant or those for whom in law it is responsible, for all necessary capital repairs and replacements to the Premises or any part thereof including
all the mechanical, electrical, plumbing and other base building systems (including but not limited to those listed in Exhibit A), and the HVAC or the back-up power generator and related equipment in or on the
Building, and for any repairs to the structure of the Building, including, without limitation, the foundations, bearing walls, roof, roof structure and roof membrane, but in all cases, excluding leasehold improvements and the Tenant’s trade
fixtures. 
 Section 6.7     Removal of Property 

 

	 	(a)	 Machinery, furniture and equipment in the nature of tenant’s trade fixtures and personal property, that
are located in the Premises, shall be the property of the Tenant and may be removed by the Tenant during the Term and shall be removed by the Tenant upon the expiry or earlier termination of this Lease provided the Tenant is not then in default of
payment under this Lease, and provided the Tenant shall repair any damage caused by such removal. 

  

	 	(b)	 Leasehold improvements, building fixtures and fixtures not in the nature of tenant’s trade fixtures,
including HVAC equipment, the back-up power generator and related equipment in or on the Building and the mechanical, electrical, plumbing and other base building systems, shall be and remain the property of
the Landlord and shall not be removed by the Tenant from the Premises. Notwithstanding the foregoing, if requested by the Landlord to do so, upon the expiry or earlier termination of this Lease the Tenant shall remove any non-standard leasehold improvements made by the Tenant during the Term and shall repair any damage caused by such installation and removal and shall restore the Premises to the condition they were in prior to such
installation. 

  

	 	(c)	 Any property required to be removed by the Tenant according to the foregoing but not so removed at the expiry
or earlier termination of this Lease may, at the option of the Landlord: 

  

	 	(i)	 be removed by the Landlord and the Tenant shall forthwith on demand pay to the Landlord the cost of such
removal and the cost to repair and restore the Premises as a result thereof; or 

  

	 	(ii)	 become the property of the Landlord without any payment or compensation by the Landlord to the Tenant therefor.

  
 - 17 - 

 Section 6.8     Compliance with all Laws 

Each of the Landlord and the Tenant shall, with respect to their respective activities on the Premises or under this Lease, comply with all provisions of law,
including without limiting the generality of the foregoing, the requirements of all federal, provincial and municipal legislative enactments, by laws or regulations now or hereafter in force (including without limitation environmental laws and
regulations) which relate to the Premises, or to the use thereof, or to the conduct of business therein. or to the making of any repairs, replacements, alterations, additions, changes, substitutions or improvements of or to the Premises, or to the
generation, use, manufacture, storage, handling, transfer, treatment, refining, processing or production of Hazardous Substances. 

ARTICLE 7 
 ASSIGNMENT
AND SUBLETTING 
 Section 7.1     Landlord’s Consent 

The Tenant will not assign, mortgage, or encumber this Lease in whole or in part, nor sublease all or any part, nor sublease all or any part of the Premises or
permit them to be used or occupied by any other person (collectively “Transfer”), without the prior written consent of the Landlord, which consent may not be unreasonably withheld, conditioned or delayed, and Section 7.2
applies. Any Transfer made in violation of this Article 7 will be void. 
 Section 7.2     Standards for Consent 

Without limiting the circumstances when it may be reasonable for the Landlord to withhold consent to a Transfer, it will be fair and reasonable for the
Landlord to withhold its consent to a Transfer in the following circumstances: 
  

	 	(a)	 if the Landlord determines the financial condition of the proposed assignee, subtenant or occupant, or any
indemnifier of same, is or may be insufficient to comply with its obligations under this Lease; 

  

	 	(b)	 if the use to which the Premises may be put is inconsistent with the terms of this Lease;

  

	 	(c)	 if at the time of the proposed Transfer the Tenant is in default under this Lease; 

 

	 	(d)	 if the Transfer will result in a division of the Premises; or 

 

	 	(e)	 if the Tenant has not received a bona fide written offer for assignment or sublet or has not provided a copy of
such offer to the Landlord at the time of requesting the Landlord’s consent. 

  
 - 18 - 

 Section 7.3     Terms of Transfer 

The following applies to any Transfer: 
  

	 	(a)	 the Landlord, acting reasonably, has the right to approve the form of Transfer; 

 

	 	(b)	 in spite of any Transfer, the Tenant will remain fully liable to perform all the terms, conditions and
covenants of this Lease; 

  

	 	(c)	 the Tenant will at the time of Transfer require the assignee to agree in writing with the Landlord to fulfill
all obligations under this Lease. 

 Section 7.4     Permitted Transfers 

Notwithstanding Section 7.1, but subject to Section 7.3(b) and Section 7.3(c), the Tenant shall not be required to obtain the Landlord’s
prior written consent in respect of: 
  

	 	(a)	 any Transfer to an affiliate or subsidiary of the Tenant (as defined in the Canada Business Corporations
Act); 

  

	 	(b)	 the occurrence of any merger, amalgamation, reorganization or corporate restructuring of the Tenant or any
Transfer to any entity or corporation that is a successor to the Tenant formed as a result thereof; or 

  

	 	(c)	 any Transfer to any purchaser of all or substantially all of the assets and business of the Tenant,

 (collectively “Permitted Transfers”). 

Section 7.5     Assignment by Landlord 
  

	 	(a)	 If the Landlord sells or otherwise transfers an interest in the Building, the Land or this Lease, in whole or
in part, to the extent that the transferee is responsible for compliance with the obligations of the Landlord under this Lease, the Landlord without further written agreement will be released from all of its obligations in this Lease.

  

	 	(b)	 The Landlord shall be entitled to assign its interest as landlord under this Lease to an affiliate or
subsidiary of the Landlord (as defined in the Canada Business Corporations Act) upon providing notice of such assignment to the Tenant. 

ARTICLE 8 

SUBORDINATION AND STATUS STATEMENT 

Section 8.1     Subordination 

So long as the mortgagee agrees that the Tenant, if not in default beyond any applicable cure period, may continue to occupy the Premises until termination,
this Lease will be subject and 

  
 - 19 - 

 
subordinate to all charges by way of mortgage now or in the future granted in respect of the Land or the Building, and the Tenant will subordinate this Lease to every such mortgage and will
execute promptly a document of subordination if requested by the Landlord, subject to such reasonable amendments as the Tenant may require, in which the Tenant will also agree to attorn to the Landlord’s mortgagee if it becomes a mortgagee in
possession or takes action to realize on the mortgage. 
 Section 8.2     Status Statement 

Whenever requested in writing by the Landlord or its mortgagee, the Tenant will promptly provide a certificate in writing as to the status of the Lease,
including whether it is in full force and effect, is modified or unmodified, confirming the rental payable and the state of accounts between the Landlord and the Tenant, the existence or non-existence of
defaults, and any other matters pertaining to this Lease as may be reasonably required. 
 ARTICLE 9 

DEFAULT 

Section 9.1     Tenant’s Default  

If: 
  

	 	(a)	 the Tenant fails to pay any rent or any other amount owing under this Lease when due and such failure is not
cured by the Tenant within five (5) business days after notice of such failure from the Landlord; 

  

	 	(b)	 the Tenant fails to observe or perform any of its other obligations under this Lease and the Tenant has not,
within fifteen (15) days after notice from the Landlord specifying the default, cured the default or, if the cure reasonably requires a longer period, if the Tenant does not commence to cure the default within the fifteen (15) day period
or thereafter does not diligently pursue the cure of such default to completion to the satisfaction of the Landlord, acting reasonably; or 

  

	 	(c)	 re-entry is permitted under other terms of the Lease;

 the Landlord, in addition to any other right or remedy, may do either or both of the following: 

 

	 	(d)	 re-enter and remove all persons and property of the Tenant from the
Premises and the property of the Tenant may be removed and stored elsewhere at the cost of and for the account of the Tenant, all without service of notice and without the Landlord being guilty of trespass or being liable for loss; and

  

	 	(e)	 terminate this Lease and all of the Tenant’s rights under it. 

  
 - 20 - 

 Section 9.2     Bankruptcy 

If: 
  

	 	(a)	 any of the goods and chattels of the Tenant on the Premises during the Term are seized by a creditor or the
Tenant receives a notice from a creditor that the creditor intends to realize on security located on the Premises; 

  

	 	(b)	 a receiver is appointed to control the conduct of the business of the Tenant on or from the Premises;

  

	 	(c)	 the Tenant becomes bankrupt or insolvent or takes the benefit of any legislation in force for bankrupt or
insolvent debtors; 

  

	 	(d)	 proceedings are instituted for the winding-up or termination of the
corporate existence of the Tenant; 

  

	 	(e)	 without notice to the Landlord the Premises are vacant for ten (10) days or more; 

 

	 	(f)	 without the consent of the Landlord the Tenant abandons or attempts to abandon the Premises or disposes of the
bulk of its goods and chattels on the Premises; or 

  

	 	(g)	 the Lease or the Tenant’s assets are taken under a writ of execution or security instrument,

 then the Landlord may re-enter and take possession of the Premises as though the Tenant or
other occupant was holding over after the expiration of the Term and this Lease may, at the Landlord’s option, be immediately terminated by notice left at the Premises. 

Section 9.3     Acceleration of Rent 

If any of the events in Section 9.1 or Section 9.2 occur, the then current month’s rent and the rent for the next three (3) months, will
immediately become due and payable as rent in arrears, and the Landlord may recover it in the same manner as rent in arrears including taking distress action. 

Section 9.4     Right to Relet 
  

	 	(a)	 If the Landlord re-enters, it may at its option, without terminating
the Tenant’s rights, make alterations and repairs to facilitate reletting, and relet the Premises, or any part, as the Tenant’s agent for such period of time and at such rent and on such other terms as the Landlord wishes.

  

	 	(b)	 Upon reletting, all rent and monies received by the Landlord will be applied, first to the payment of
indebtedness other than rent due from the Tenant to the Landlord, second to the payment of costs and expenses of the reletting excluding brokerage, legal and repair expenses, and third to the payment of rent due and

  
 - 21 - 

	 	
unpaid under this Lease. The residue, if any, will be applied to the payment of future rent as it becomes due and payable. 

 

	 	(c)	 If at any time the rent received from the reletting is less than the rent to be paid under this Lease, the
Tenant will pay the deficiency to the Landlord to be calculated and paid monthly. 

 Section 9.5     Re-entry 
 No re-entry or entry will be construed as an election by the
Landlord to terminate this Lease unless a written notice of intention to terminate is given to the Tenant Despite a reletting without termination, the Landlord may elect at any time to terminate this Lease for a previous breach. 

Section 9.6     Landlord Perform Tenant’s Covenants 

If after notice from the Landlord the Tenant fails to perform an obligation under this Lease, the Landlord may perform the obligation and may enter the
Premises without notice and do everything the Landlord considers necessary. The Tenant will pay as rent all costs and expenses incurred by the Landlord plus fifteen percent (15%) overhead upon presentation of a bill. The Landlord will not be liable
for any loss or damages resulting from negligence or otherwise resulting from such action. 
 Section 9.7     Damages

 If the Landlord terminates this Lease in accordance with this Article 9 then in addition to other remedies, it may recover from the Tenant all costs
incurred and damages suffered including the cost of recovering the Premises. 
 Section 9.8     Distress 

None of the property of the Tenant located at the Premises is exempt from levy by distress. This Section 9.8 may be pleaded as estoppel against the Tenant
in an action brought to claim exemption. 
 ARTICLE 10 

ACCESS BY LANDLORD 

Section 10.1     Access and Entry 

The Landlord will have the following rights, subject to compliance with the Tenant’s standard protocol with respect to entering restricted portions of the
Premises and with the proviso that the Tenant may refuse entry to any person on any reasonable and lawful basis, including but not limited to compliance with applicable laws or the Tenant’s contractual obligations to third parties: 

 

	 	(a)	 the Landlord and its agents may enter the Premises on two (2) business days prior written notice to
examine them and show them to a prospective purchaser, 

  
 - 22 - 

	 	
or mortgagee, or for any other reasonable purpose. Provided the Tenant has not exercised its Option to Extend as provided for in this Lease, or is not then in the process of negotiating the
renewal of the Lease in good faith with the Landlord, then during the last six (6) months of the Term, the Landlord may place a “For Lease” sign on the Premises and the Tenant will not interfere with the sign. 

 

	 	(b)	 If after the required notice to the Tenant (except in an emergency when no notice is required), the Tenant is
not available to open and permit entry to the Premises, the Landlord or its agents may enter by a master key or use reasonable force without being liable for damages or trespass. Nothing in this imposes any liability on the Landlord to effect
repairs or maintenance. 

  

	 	(c)	 To carry out tests and inspections or prepare designs for safety, environmental or renovation purposes to
enable the Landlord to perform its obligations or exercise its rights under this Lease. 

 Notwithstanding the foregoing, in the exercise
of its rights under this Section 10.1, the Landlord shall use its reasonable efforts to minimize disruption of the Tenant’s business to the extent reasonably possible in the circumstances and so that any construction, alteration, addition,
change, expansion or reduction does not materially and adversely affect the Tenant’s use and enjoyment of the Premises. 
 ARTICLE 11

 MISCELLANEOUS 

Section 11.1     Holding Over 

If the Tenant holds over after the expiration of the Term, and the Landlord accepts rent, there is no tacit renewal of this Lease, and the Tenant will be
considered to be occupying the Premises as a tenant from month to month at a rental, payable in advance on the first day of each month, equal to a sum of one hundred fifty percent (150%) of the monthly instalment of Basic Rent in effect immediately
before the expiration of the Term, and either party may terminate such month to month tenancy on giving at least thirty (30) days notice to the other of the effective date of such termination, and otherwise all terms and conditions of this
Lease shall apply to the extent they are applicable to a tenancy from month to month. 
 Section 11.2     Rules and
Regulations 
 So long as they do not impair or reduce any of the Tenant’s rights under this Lease or result in additional cost or charges to
the Tenant, the Landlord may make, modify and enforce reasonable rules and regulations related to maintaining the Building in good condition. All rules and regulations become a part of this Lease and the Tenant will comply with them. The Landlord
will give the Tenant at least thirty (30) days written notice of proposed changes to the rules and regulations. In the event of a conflict between such rules and regulations and this Lease, the provisions of this Lease shall govern. 

  
 - 23 - 

 Section 11.3     Quiet Enjoyment 

Subject to the observance and performance by the Tenant of all its obligations under this Lease, the Tenant may use the Premises in accordance with the
provisions of this Lease without interference by the Landlord, or any party claiming through the Landlord. 
 Section 11.4    
Interpretation 
 Where the context requires, the singular includes the plural and vice versa, and the masculine, feminine and neuter include each
other. If two (2) or more individuals or entities compose the Tenant, the liability of each under this Lease is joint and several. 

Section 11.5     Registration 

The Tenant shall be permitted, at its cost, to register in the appropriate Land Title Office its leasehold interest in the Leased Premises against title to the
Lands by way of a short form of this Lease, such registration form to be prepared by the Tenant’s solicitor and approved by the Landlord, acting reasonably. At the Tenant’s sole cost, the Landlord and the Tenant agree to execute
contemporaneously with the execution of this Lease whatever additional documents are reasonably required to permit registration of the Tenant’s leasehold interest. 

Section 11.6     Interest 

All overdue monies payable to the Landlord by the Tenant or to the Tenant by the Landlord on any account will bear interest at the rate equal to the annual
rate of interest announced by the Royal Bank of Canada as a reference rate for its commercial loans made in Canada, plus three percent (3%) (the “Interest Rate”) from the due date until paid in full. 

Section 11.7     No Waiver 

The waiver by the Landlord or the Tenant of a breach of an obligation in this Lease will not be considered to be a waiver of a subsequent breach of that or
another obligation. The subsequent acceptance of rent by the Landlord will not be a waiver of a preceding breach at the time of the acceptance of rent. No obligation in this Lease will be considered to have been waived by the Landlord or the Tenant
unless the waiver is in writing and signed. 
 Section 11.8     Notices 

Any notice to be given under this Lease must be given in writing and will be considered to be given if delivered by hand or if mailed by prepaid registered
post: 
  

	 	(a)	 To the Tenant: 

at the Premises. 

  
 - 24 - 

	 	(b)	 To the Landlord at: 

#1700 – 1030 West Georgia Street 

Vancouver, British Columbia 

V6E 2Y3 
 Any notice to be given under this
Lease will be considered to have been received, if delivered by hand upon delivery or if mailed upon the fifth (5th) business day following posting. 

Section 11.9     Time of Essence 

Time will be of the essence in this Lease. 

Section 11.10     Severance 

If any provision of this Lease or the application to any person of any provision is held to be invalid or unenforceable, the remainder of this Lease or its
application will not be affected. 
 Section 11.11     No Modification 

No representation, understanding or agreement has been made or relied upon except as expressly set out in this Lease. This Lease may only be modified in
writing signed by each party against whom the modification is enforceable. 
 Section 11.12     Successors 

This Lease binds and benefits the parties and their respective heirs, administrators, successors and permitted assigns. No rights benefit an assignee of the
Tenant unless the Landlord has consented to the assignment under Article 7 of this Lease, to the extent such consent is required under Article 7. If the Landlord sells or transfers the Lands or the Building or both, the Tenant will attorn to the
purchaser on the same terms and conditions. 
 Section 11.13     Peaceful Surrender 

The Tenant will at the expiration or sooner determination of this Lease, immediately surrender the Premises in a peaceable way and in the state of repair
specified in Article 6. 
 Section 11.14     Governing Law 

This Lease shall be interpreted under and is governed by the laws of the Province of British Columbia and the laws of Canada applicable thereunder, and all
disputes with respect to this Lease shall be within the exclusive jurisdiction of the courts of the Province of British Columbia. 

Section 11.15     Counterparts 

This Lease may be executed in one or more counterparts, each of which so executed shall constitute an original and all of which together shall constitute one
and the same agreement and 

  
 - 25 - 

 
this agreement may be signed and transmitted by a facsimile copy thereof or signed electronically and transmitted by email, both of which shall be the same effect as signing an original hereof.

 Section 11.16     Landlord Lien Waiver 

Notwithstanding anything to the contrary contained in this Lease, if, after the Possession Date, the Tenant shall have granted or in future shall grant a
security interest to a third party with respect to any of the Tenant’s personal property located at the Premises and not paid for in whole or in part by the Landlord which the Tenant is permitted under this Lease to remove at the expiration or
earlier termination of this Lease, the Landlord shall, upon written request from the Tenant, enter into a waiver agreement in the form attached as Exhibit B. 

ARTICLE 12 

LANDLORD’S REPRESENTATIONS AND WARRANTIES 

Section 12.1     Representations and Warranties 

The Landlord represents and warrants that: 
  

	 	(a)	 it has the full right and authority to lease the Premises in accordance with the terms and conditions contained
herein; 

  

	 	(b)	 as of the date hereof, to the knowledge of the Landlord, except as disclosed by the Environmental Reports, the
Premises are not in breach of any applicable environmental laws; and 

  

	 	(c)	 at the Commencement Date, the base building systems, including all HVAC systems, mechanical, electrical,
plumbing, the back-up power generator and related equipment and other base building systems. are in good working order and repair. 

ARTICLE 13 

ENVIRONMENTAL 

Section 13.1     Underground Storage Tanks 
  

	 	(a)	 The Landlord and the Tenant acknowledge that there are currently underground storage tanks (the
“Storage Tanks”) located under the Lands, which were in existence prior to the commencement of the Term and are the property of the Landlord and which the Tenant will use during the Term. 

 

	 	(b)	 The Tenant further acknowledges that the Landlord intends to and shall be permitted to move the Storage Tanks
above ground at any time prior to or after the Possession Date. Notwithstanding anything herein to the contrary, the Tenant agrees that, in addition to the Landlord’s rights under Section 10.1 of this Lease, the Landlord shall be entitled
to access all or any portion of the Lands 

  
 - 26 - 

	 	
following the Possession Date in order to complete all work required to move the Storage Tanks above ground (the “Storage Tanks Work”). The Landlord shall be required to provide
the Tenant with two (2) business days prior written notice prior to commencement of the Storage Tanks Work, and thereafter shall be entitled to continued access to all or any portion of the Lands until completion of the Storage Tanks Work. The
Landlord agrees that it shall use its reasonable efforts to minimize disruption of the Tenant’s business to the extent reasonably possible in the circumstances and so that the Storage Tanks Work does not materially and adversely affect the
Tenant’s use and enjoyment of the Premises. 

  

	 	(c)	 The Landlord and the Tenant agree that so long as the Tenant uses the Storage Tanks in a reasonable and
diligent manner as would a prudent owner and user of same and in accordance with all safety codes and environmental laws: 

  

	 	(i)	 the Landlord will be solely responsible for the maintenance of the Storage Tanks (which maintenance will
include preventative maintenance to ensure compliance with applicable environmental laws) and to conduct on a regular basis, but no less than once annually, testing to determine if there is any leakage from the Storage Tanks of Hazardous Substances;
and 

  

	 	(ii)	 the Landlord will clean-up, or ensure the clean-up, of the Lands as and when required by environmental laws (including any necessary restoration or remediation of the Lands to a condition that complies with any and all environmental laws) in circumstances
where a release of Hazardous Substances from the Storage Tanks has occurred and such release is directly related to the acts or omissions or negligence of the Landlord; it being understood and agreed that the Landlord will not be responsible or
liable for the costs associated with cleaning up, restoring or remediating the Lands if and to the extent that any release of Hazardous Substances from the Storage Tanks is caused by or results from or arises in connection with the acts, omissions
or negligence of the Tenant or any of its officers, directors, employees, agents, invitees, contractors or those for whom it is responsible in law. 

  

	 	(d)	 If the Tenant elects not to use or to cease using the Storage Tanks, the Tenant shall forthwith notify the
Landlord of such election and the Landlord shall be entitled to proceed to decommission the Storage Tanks, and in such event shall take all reasonable steps to minimise any disruption caused by such decommissioning to the Tenant’s business
operations carried out at the Premises. 

 Section 13.2     Indemnity 

In addition to any liability imposed on the Landlord at law, the Landlord shall indemnify and save harmless the Tenant and its directors, officers and
employees from and against any and all claims, losses, liabilities, damages, costs and expenses, including without limitation, the cost of any required or necessary repair, remediation or detoxification and preparation of any closure or other
required plans in connection therewith and reasonable legal fees and costs directly arising 

  
 - 27 - 

 
out of or attributable to the use, generation, storage (including the Storage Tanks), escape, seepage, leakage, spillage, release, discharge, disposal or presence on, under, about or from the
Lands or the Building of any Hazardous Substances brought onto the Lands by the Landlord or in circumstances where a release of Hazardous Substances from the Storage Tanks has occurred and such release is directly related to the acts or omissions or
negligence of the Landlord, save and except that the foregoing indemnity shall not apply or be of any force or effect if such use, generation, storage, escape, seepage, leakage, spillage, release, discharge, disposal or presence on, under, about or
from the Lands or the Building of any Hazardous Substances results or arises from the use of the Storage Tanks by the Tenant in a manner other than a reasonable and diligent manner as would a prudent owner and user of same and in accordance with all
safety codes and environmental laws, or the acts or omissions or negligence of, the Tenant and/or any of its directors, officers, employees, agents, invitees, contractors or those under the control of the Tenant or for whom the Tenant is responsible
in Jaw. Such indemnification shall survive the expiration or earlier termination of this Lease. 
 IN WITNESS WHEREOF the parties hereto have
executed this Lease as of the date first above written. 
  

			
	0727219 B.C. LTD.
		
	By:	 	 

		 	Authorized Signatory
	
	PCI BETA HOLDINGS INC.
		
	By:	 	 

		 	Authorized Signatory
	
	D-WAVE SYSTEMS INC.
		
	By:	 	/s/ Warren Wall
		 	Authorized Signatory

  
 - 28 - 

 EXHIBIT A  TO LEASE - BASE BUILDING SYSTEMS 

For further clarification the following Base Building Systems shall be provided at the Premises by the Landlord as of the Possession Date in accordance with
the terms of the Lease in good working order: 
  

	 	•	 	 170 ton roof mounted chiller with cold water loop and air conditioning, 2 ton roof mounted air conditioner (for
server room), and a 4 ton roof mounted air conditioner 

  

	 	•	 	 21 separate fan coil units on the operations side 

 

	 	•	 	 Pumps and VFD drives for hot and cold loops 

 

	 	•	 	 Make-up unit with ~ 20000 CFM capacity 

 

	 	•	 	 Main electrical service at 600 V, 1600 amp, 3 phase 

 

	 	•	 	 Fire protection system 

 

	 	•	 	 1075 kW diesel powered turbine generator to provide back-up power

 EXISTING EQUIPMENT 

The following list of existing equipment and facilities (the “Existing Equipment”) shall be provided by the Landlord to the Tenant in good
working order for the Tenant’s use during the Term, and any extension thereto. Such equipment to be professionally maintained by the Tenant throughout the Term and returned to the Landlord in good working order, clean and suitable for
reuse, reasonable wear and tear excepted: 
  

	 	•	 	 Registered and permitted hazardous waste storage facility 

 

	 	•	 	 30+ individual lab working areas with lab furniture and lab benches, but not including chairs

  

	 	•	 	 11 fume hoods 

  

	 	•	 	 Dedicated clean room 

  

	 	•	 	 Temperature controlled environment throughout the facility computer monitored and controlled

  

	 	•	 	 225kVA uninterrupted power supply (UPS) to bridge the time delay between the generator start-up (<30 s) and the power outage to critical systems and instrumentation (connected to marked receptacles) 

  
 - 29 - 

	 	•	 	 Oil-less air compressor provides clean air and zero air (medical grade
air) to the lab and to a nitrogen generator 

  

	 	•	 	 Nitrogen generator 

  

	 	•	 	 Distribution system for the gases throughout the lab 

 

	 	•	 	 Centralized high vacuum pump with distribution system though the lab 

 

	 	•	 	 Fume extraction system for fume hoods and for extraction locations throughout the lab 

 

	 	•	 	 Elevated shipping receiving bay with dock leveller 

 

	 	•	 	 Independent alarm system including door-mounted sensors, motion detectors and a comprehensive system of heat,
smoke and glass break detectors and video surveillance cameras (inside 9 cameras and outside 5 cameras) 

  
 - 30 - 

 EXHIBIT B TO LEASE- FORM OF WAIVER AGREEMENT 

WAIVER AGREEMENT 
 This Waiver
Agreement (hereinafter referred to as this “Agreement”) is made and entered into as of        ,     2012 by and among Lender, Landlord and Tenant (all as defined below).

 RECITALS: 

                    (“Lender”) has agreed
to, among other things, provide financing, which is secured by all equipment and other personal property assets (collectively, “Equipment”), to D-WAVE SYSTEMS INC. (“Tenant”),
pursuant to that certain Loan and Security Agreement dated as of                     
    ,        , between each Lender and Tenant (including any supplements, extensions, renewals and replacements thereof, the “Loan Agreement”), some or all of which
Equipment may be located upon that certain real property located at 3033 Beta Avenue, Burnaby, British Columbia (the “Real Property”). 

Tenant is a party to that certain Lease Agreement dated July 25, 2012 (as the same may hereafter be amended, the “Lease”), with 0727219
B.C. LTD. and its beneficial owner PCI BETA HOLDINGS INC. (collectively, “Landlord”). Pursuant to the Lease, Tenant leases the Real Property from Landlord. 

NOW THEREFORE, in consideration of the covenants and promises contained in this Agreement, the parties hereto agree as follows: 

 

	1.	 Landlord has an interest in the Real Property as owner and landlord. 

 

	2.	 Landlord agrees that the Equipment shall at all times be deemed personal property, even though it may be placed
on or affixed to the Real Property. During the term of the Lease and for a period of thirty (30) days following receipt from Landlord of a notice of termination of the Lease, Lender shall have the right, at all reasonable times upon prior
written notice to Landlord, to enter upon the Real Property to take possession and dispose of the Equipment pursuant to the terms of the Loan Agreement or otherwise, free of any claim to, interest in, or lien on the Equipment in favour of Landlord;
provided that if Lender in removing the Equipment damages any improvements of Landlord on the Real Property, Lender will, at its own expense, cause the same to be promptly repaired to its original condition prior to such damage.

  

	3.	 During the term of the Lease. any right or interest in the Equipment that Landlord now has or may hereafter
acquire because of the location or installation of the Equipment on the Real Property or otherwise is hereby made subject, subordinate and inferior to the rights of Lender to the Equipment under the terms of the Loan Agreement; provided, that
Landlord shall continue to retain all rights it may otherwise have against Tenant including, without limitation, to bring an action in unlawful detainer and trespass against Tenant for non-payment of the Lease
or any other breaches of agreements with Landlord, subject to Lender’s rights with respect to the Equipment during the term of the Lease and for a period of thirty (30) days following receipt from Landlord of a notice of termination of the
Lease. If Tenant abandons the Equipment located on the Real 

  
 - 31 - 

	 	
Property upon expiration or earlier termination of the term of the Lease, Lender shall have the option to remove the Equipment from the Real Property within thirty (30) days after Lender
receives written notice from Landlord of such expiration or earlier termination of the term of the Lease. The Landlord may remove and store the Equipment and require Lender to pay reasonable removal and storage costs if at the expiration of the
thirty (30) day period the lender has not removed the Equipment from the Real Property. 

  

	4.	 Each reference herein to Lender and Landlord shall be deemed to include their respective successors and
assigns, all of whom shall be bound by and entitled to the benefits of the provisions hereof. 

  

	5.	 All notices or other communications between the parties shall be in writing and shall be deemed duly given upon
delivery or refusal to accept delivery by the addressee thereof if delivered in person, or upon actual receipt if delivered by reputable overnight guaranty courier, addressed and sent to the parties at their addresses set forth below. Lender,
Landlord and Tenant may from time to time by written notice to the others designate another address for receipt of future notices. 

  

	6.	 Lender will deliver written notice to Landlord within a reasonable time following the expiry or earlier
termination of the Loan Agreement, at which time this Agreement will expire. 

 Executed this     day of
            , 2012. 
  

			
	LANDLORD:
	
	0727219 B.C. LTD.
		
	By:	 	
                     

		 	Authorized Signatory
	
	PCI BETA HOLDINGS INC.
		
	By:	 	
                     

		 	Authorized Signatory
	
	Address for Notices:
	#1700 – 1030 West Georgia Street
	Vancouver, B.C. V6E 2Y3
	Attention: Mr. Dan Turner
	Fax: (604) 688-2328

  
 - 32 - 

 
			
	TENANT:
	
	D-WAVE SYSTEMS INC.
		
	By:	 	
                     

		 	Authorized Signatory
	
	Address for Notices:
	3033 Beta Avenue
	Burnaby, BC V5G 4M9
	Attention: Lease Administrator
	Fax:	 	      

	
	LENDER:
	
	[LENDER NAME]
		
	By:	 	
                     

		 	Authorized Signatory

  

			
	Address for Notices:
	      

	      

	Attention:	 	      

	Phone:	 	      

	Fax:	 	      

  
 - 33 -

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