Document:

Exhibit 10.14

 Exhibit 10.14 
 LEAD SKY ENTERPRISES LIMITED 
 Landlord 
 - and - 
 COGENCY TECHNOLOGY
INCORPORATED 
 Tenant 
 OFFICE LEASE 
  

			
	 1.      DATE OF LEASE:
	  	March 17, 1998
		
	 2.      LEASED PREMISES:
	  	Suite 580 - approximately Four Thousand, Seven Hundred and Thirty (4,730) Square Feet
		
	 3.      PROPERTY:
	  	144 - 146 Front Street West, Toronto

 INDEX 
  

					
	 ARTICLE I DEFINITIONS
	  	1
			
	 Section 1.1.
	  	Meaning of Certain Terms	  	1
	 Section 1.2.
	  	Calculation of Area	  	3
	 Section 1.3.
	  	Architect’s Certificate Conclusive	  	4
	 Section 1.4.
	  	When Services Are Not Provided	  	4
		
	 ARTICLE II LEASE OF PREMISES
	  	5
			
	 Section 2.1.
	  	Leased Premises	  	5
	 Section 2.2.
	  	Term	  	5
	 Section 2.3.
	  	Condition of Leased Premises	  	5
	 Section 2.4.
	  	Occupancy Prior to Commencement Date	  	5
	 Section 2.5.
	  	Delay in Occupancy	  	5
	 Section 2.6.
	  	Tenant to Take Possession	  	5
		
	 ARTICLE III RENT
	  	6
			
	 Section 3.1.
	  	Base Rent	  	6
	 Section 3.1.1
	  	 Advance Rent
	  	6
	 Section 3.2.
	  	Additional Rent	  	6
	 Section 3.3.
	  	Payment of Annual Base Rent	  	7
	 Section 3.4.
	  	Payment of Additional Rent	  	7
	 Section 3.5.
	  	Charges for Utilities	  	8
	 Section 3.6.
	  	Rent in Arrears	  	8
		
	 ARTICLE IV TENANT’S COVENANTS
	  	8
			
	 Section 4.1.
	  	Tenant to Pay Rent	  	8
	 Section 4.2.
	  	Tenant to Pay Certain Taxes	  	8
	 Section 4.3.
	  	Separate School Taxes	  	8
	 Section 4.4.
	  	Use of Leased Premises	  	9
	 Section 4.5.
	  	Prohibited Uses of Leased Premises	  	9
	 Section 4.6.
	  	No Waste	  	9
	 Section 4.7.
	  	Signs	  	9
	 Section 4.8.
	  	Obligation to Repair	  	9
	 Section 4.9.
	  	Exceptions to Tenant’s Obligation to Repair	  	9
	 Section 4.10.
	  	Compliance by Tenant with Statutes, Orders, etc.	  	10
	 Section 4.11.
	  	Notice of Defects or Damage	  	10
	 Section 4.12.
	  	Tenant’s Insurance	  	10
	 Section 4.13.
	  	Increase in Insurance Premiums	  	11
	 Section 4.14.
	  	Indemnity by Tenant	  	11
	 Section 4.15.
	  	Surrender of Leased Premises	  	11
	 Section 4.16.
	  	Removal of Tenant’s Property	  	11
	 Section 4.17.
	  	Exhibit Leased Premises	  	12
	 Section 4.18.
	  	Assignment and Subletting	  	12
	 Section 4.19.
	  	Effect of Assignments, Etc.	  	13

  

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	 Section 4.20.
	  	Keep Tidy	  	13
		
	 ARTICLE V LANDLORD’S COVENANTS
	  	13
			
	 Section 5.1.
	  	Quiet Enjoyment	  	13
	 Section 5.2.
	  	Repair	  	13
	 Section 5.3.
	  	Heating, Air-Conditioning, Janitorial Service, Etc.	  	13
	 Section 5.4.
	  	Exceptions to Landlord’s Obligations	  	14
	 Section 5.5.
	  	Landlord’s Insurance	  	14
	 Section 5.6.
	  	Building Taxes	  	14
		
	 ARTICLE VI MUTUAL COVENANTS
	  	14
			
	 Section 6.1.
	  	Entry by Landlord	  	14
	 Section 6.2.
	  	Maintenance of Services, etc.	  	14
	 Section 6.3.
	  	Suspension of Services	  	15
	 Section 6.4.
	  	Entry by Landlord Not to Interfere	  	15
	 Section 6.5.
	  	Entry in Absence of Tenant	  	15
	 Section 6.6.
	  	Overholding	  	15
	 Section 6.7.
	  	Limit of Landlord’s Liability	  	15
	 Section 6.8.
	  	Landlord’s Alterations	  	16
	 Section 6.9.
	  	Tenant’s Alterations	  	16
	 Section 6.9.1
	  	 Tenant to Discharge all Liens
	  	17
	 Section 6.10.
	  	Termination in the Event of Damage	  	17
	 Section 6.11.
	  	Termination for Demolition	  	18
	 Section 6.12.
	  	Rules and Regulations	  	19
	 Section 6.13.
	  	Transfers by Landlord	  	19
	 Section 6.14.
	  	Rights of Landlord’s Mortgagees	  	19
	 Section 6.15.
	  	Priority of Lease	  	20
	 Section 6.16.
	  	Right to Relocate	  	20
		
	 ARTICLE VII LANDLORD’S REMEDIES
	  	20
			
	 Section 7.1.
	  	Landlord May Perform Tenant’s Covenants	  	20
	 Section 7.2.
	  	Re-Entry	  	21
	 Section 7.3.
	  	Landlord May Re-let	  	22
	 Section 7.4.
	  	Right to Distrain	  	22
	 Section 7.5.
	  	Landlord May Follow Chattels	  	22
	 Section 7.6.
	  	Waiver of Repudiation of Lease	  	23
		
	 ARTICLE VIII CERTIFICATES, NOTICES, PAYMENTS & FINANCIAL INFORMATION
	  	23
			
	 Section 8.1.
	  	Estoppel Certificates	  	23
	 Section 8.2.
	  	Notices	  	23
	 Section 8.3.
	  	Payments	  	23
	 Section 8.4.
	  	Financial Information	  	23
		
	 ARTICLE IX GENERAL PROVISIONS
	  	24
			
	 Section 9.1.
	  	Failure of Landlord to Deliver Possession	  	24

					
	 Section 9.2.
	    	Force Majeure	  	24
	 Section 9.3.
	    	Separate Assessments	  	24
	 Section 9.4.
	    	Time of the Essence	  	25
	 Section 9.5.
	    	Joint and Several Liability	  	25
	 Section 9.6.
	    	Amendments	  	25
	 Section 9.7.
	    	Waivers	  	25
	 Section 9.8.
	    	Severabilty	  	25
	 Section 9.9.
	    	Headings	  	25
	 Section 9.10.
	    	Changes Required by Context	  	25
	 Section 9.11.
	    	Planning Act	  	25
	 Section 9.12.
	    	Notice of Lease	  	25
	 Section 9.13.
	    	Whole Agreement	  	26
	 Section 9.14.
	    	Applicable Law	  	26
	 Section 9.15.
	    	Assigns	  	26
		
	 ARTICLE X SPECIAL PROVISIONS
	  	26
			
	 Section 10.1.
	    	Option to Renew	  	26
	 Section 10.2.
	    	Tenant’s Right to Terminate	  	26

 SCHEDULES 
  

					
	 “A”
	  	–	  	FLOOR PLAN
	 “B”
	  	–	  	RULES AND REGULATIONS

 THIS LEASE made the
17th day of March, 1998 
 IN PURSUANCE OF THE SHORT FORMS OF LEASES ACT (ONTARIO) BETWEEN: 
  

			
	 LEAD SKY ENTERPRISES LIMITED
	  	
		
	 (herein called the “Landlord”)
	  	
		
		  	OF THE FIRST PART
		
	 - and -
	  	
		
	 COGENCY TECHNOLOGY INCORPORATED
	  	
		
	 (herein called the “Tenant”)
	  	
		
		  	OF THE SECOND PART

 WHEREAS the Landlord and the Tenant have agreed to enter into this Lease. NOW THEREFORE THIS
INDENTURE WTTNESSETH that in consideration of the rents, covenants, obligations and agreements hereinafter reserved and contained. 
 ARTICLE I 
 DEFINITIONS 
 Section 1.1. Meaning of Certain Terms. In this Lease and in the schedules and appendices to this Lease: 
 (a) “Additional Rent” means the rental referred to in Section 3.2. 
 (b) “Architect’s Certificate” means the certificate of an architect appointed by the Landlord. 
 (c) “Base Rent” means the rental referred to in Section 3.1. 
 (d) “Building”
means the lands and premises municipally known as 144-146 Front Street West, Toronto, Ontario together with all buildings, structures, improvements, fixtures, sprinklers, elevators, heating, ventilating, air- conditioning and mechanical and
electrical equipment and machinery, and water, gas, sewage, telephone and other communication facilities and electrical power services and utilities comprised therein, belonging thereto, connected therewith or used in the operation thereof, and now
or hereafter constructed, erected and installed therein and thereon, but excludes all Leasehold Improvements made, constructed, erected or insulted therein by or on behalf of any tenant of premises therein. 
 (e) “Rights in Common” means rights of tenants in the Building to Service Areas and Leasable Service Areas (as
hereinafter defined) located at 144-144 Front Street West. 

 (f) “Commencement Date” means the date set out in Section 2.2 for
the beginning of the Term. 
 (g) “Leasable Service Areas” means passenger and service elevator lobbies
(other than those on the ground floor and those exclusively for a Tenant’s use); corridors, washroom; rooms and closets for electrical, telephone, janitor, service and maintenance facilities; and the walls enclosing the same. 
 (h) “Leased Premises” means the premises comprising a leasable
area of approximately Four Thousand, Two Hundred and Nine (4,209) square feet, and a gross leasable area of approximately Four Thousand, Seven Hundred and Thirty (4,730) square feet, outlined in red on Schedule “A” located
in the Building and being Suite #580, part of the Fifth (5th ) Floor, and includes all Leasehold Improvements and
all water, gas, sewage, telephone and other communication facilities comprised therein for the exclusive use thereof, reserving unto the Landlord the right to make reasonable variations in the area, form and siting of the Leased Premises, and the
right to relocate on comparable floor or floors prior to the commencement date with the consent of the Tenant, such consent not to be unreasonably withheld. 
 (i) “Leasehold Improvements” means all fixtures, improvements, installations, alterations and additions from time to time
made, constructed, erected or installed in or to the Leased Premises, including all interior partitions however affixed and all rugs, carpeting and floor coverings attached in any way to the Leased Premises, but excludes movable trade fixtures,
movable partitions, and furniture and equipment not affixed to the Leased Premises. 
 (j) “Mortgage”
includes a mortgage, pledge, charge, hypothec, encumbrance or financing agreement and “mortgagee” includes the holder of such mortgage. 
 (k) “Normal Business Hours” means the hours from 8:00 a.m. to 6:00 p.m. on each day, other than a statutory holiday, from Monday to Friday inclusive in each week, or such extended hours as the
Landlord may reasonably determine from time to time, 
 (l) “Rent” includes all amounts payable by the Tenant
under this Lease. 
 (m) “Service Areas” means all facilities and utilities (other than Leasable Service
Areas) from time to lime furnished or designated by the Landlord (as the same from time to time may be altered reconstructed or expanded) in connection with the Building for the use or benefit in common, in such manner as the Landlord may permit, of
occupants of premises in the Building and all others entitled thereto and now or hereafter developed by the Landlord including, without limiting the generality of the foregoing, heating ventilating air-conditioning, mechanical and service equipment,
areas and rooms: driveways entrances and exits passageways, entrance lobbies, elevator lobbies on the ground floor, sidewalks, balconies, terrace, malls, courtyard, ramps to parking areas, landscaped areas, stairways, elevators (other than those
stairways and elevators exclusively for a tenant’s use), shafts, flues, vertical ducts, garbage facilities, and receiving and shipping facilities including ramps and access thereto; and the walls enclosing the same. 
  

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 (n) “Stipulated Rate of Interest” means that rate or interest at the
time such interest falls doc under this Lease which is equal to the lowest rate then charged by any chartered Canadian bank with which the Landlord is doing business, for commercial demand loan, plus 3% per annum. 
 (o) “Taxes” means all taxes, local improvement rates, levies, rates, duties, assessments and charges from time to time
imposed against real property, buildings, structures and improvements by municipal or other governmental authorities having jurisdiction and all taxes, liens, rates, duties, assessments and charges which may at any lime be substituted therefore or
replace the same or is supplemental thereto but excludes: 
 (i) business taxes, 
 (ii) the amount by which separate school taxes exceed the amount which would have been payable for school taxes if no assessment had been
made for the support of separate schools, and 
 (iii) any tax separately imposed as provided for in Section 4.2(a) or
allocated as provided in Section 9.3 in respect of Leasehold Improvements in the Building. 
 (p) “Tenant’s
Proportionate Share” means a fraction, the numerator of which is the total gross leasable area of the Leased Premises and the denominator or which is the total gross leasable area or the Building, 
 (q) “Term” means the term of this Lease. 
 Section 1.2. Calculation of Area. Wherever in this Lease reference is made to the size of any area or areas or the leasable area or gross leasable area of any premise, or the amount or any payment is required
to be determined in reference to the size of any areas or areas, the calculation of the size of any such area or areas shall be made as follows: 
 (a) the leasable area of premises or a part of any premises comprising a single
tenancy floor on the second (2nd) and higher floors shall be computed by measuring to the inside finish of the
permanent outer walls of the Building and shall include all area within the permanent outer walls of the Building without deduction for columns, or projections necessary to the Building but deducting the area occupied by Service Areas which are
located within said premises, 
 (b) the leasable area of premises or a
part of any premises on the basement and the ground floor and on a multiple tenancy floor on the second (2nd) and higher floors shall be computed by measuring: 
 (i) to the inside finish of the permanent outer
walls of the Building, 
 (ii) to the surface interior to the premise, being measured of interior walls separating such
premise, from Service Areas and Leasable Service Areas, and 
  

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 (iii) to the centre line of interior walls separating such premise, from adjoining
premises, without deduction for columns, and projections necessary to the Building. 
 (c) the gross leasable area of premises or a part of any premises comprising a single tenancy floor on the fifth (5th) floor shall be the leasable area thereof, 
 (d) the gross leasable area of premises or a part of any premises comprising a single tenancy floor on the second (2nd) through to and including the seventh (7th) floors, shall be
the leasable area thereof, 
 (e) the gross leasable area of premises or a part of any premises on a multiple tenancy floor on
the second (2nd) and higher floors shall be the aggregate of: 
 (i) the leasable area of such premises; and 

(ii) the pro-rata share of Leasable Service Areas applicable to such floor. 
 (f) the gross leasable area of premises on the ground floor and basement shall be the leasable area thereof, 
 (g) the gross leasable area of the Building shall be the aggregate of the gross leasable area or all premises in the Building. 

Wherever the permanent outer wall of the Building measured vertically from finished floor to the underside of the finished ceiling at such outer wall
is more than 50% glass or other material of similar viewing properties, the inside finish of such outer wall shall be considered to be the inside surface of the glass or other material. Where any wall, door or window of any premises is recessed from
the demising line of such premises the area of such recess shall for all purposes be a part of such premises and included in the leasable area of such premises. 
 Section 1.3. Architect’s Certificate Conclusive. An Architect’s Certificate as to the size of any area or areas, the leasable area of any premises, the gross leasable area of any premises, the extent
of any injury, the portion of the Leased Premises capable of being used for the purpose for which they are leased, the period within which any injury may be repaired, or the date on which any repairs have been completed, shall be conclusive and
binding on the parties. 
 Section 1.4. When Services Are Not Provided. When and if any service (such as janitorial service)
which is normally provided by the Landlord to tenants of the Building in their premises: 
 (a) is not provided by Landlord in
the Leased Premises under the specific terms of this Lease, in determining Operating Costs for the Tenant hereunder, the cost of such service (except as it relates to Leasable Service Areas and Service Areas) shall be excluded; and 
 (b) is not provided by Landlord in a significant portion of the Building, in determining Operating Costs for the Tenant hereunder, the
cost of such service shall be divided by the difference between the square feet in the Building and the number of square feet (determined on the basis set out in Section 1.2) in the Building in which Landlord does not provide such service.

  

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 ARTICLE II 
 LEASE OF PREMISES 
 Section 2.1. Leased Premises. The Landlord hereby leases the Leased
Premises to the Tenant and the Tenant herby leases the Leased Premises from the Landlord for the Term, at the Rent, subject to the conditions and in accordance with the covenants, obligations and agreements contained in this Lease. 
 Section 2.2. Term. TO HAVE AND TO HOLD the Leased Premises for and during the period of
Five (5) years beginning on 1st day of May, 1998 (the “Commencement Date”) and from henceforth
ensuing and fully to be completed and ended on the 30th day of April, 2003 (the “Term”). 
 Section 2.3. Condition of Leased Premises. The Tenant accepts the Leased Premises in an
as-is condition; “as-is” condition being the condition of the Leased Premises upon completion by the Landlord of the work set out in Section 9 of an offer to lease made between the Landlord and the Tenant and accepted by the Landlord
on the 5th day of March, 1998 (the “Agreement”). The Tenant acknowledges that any additional work required
by the Tenant with respect to the leasehold Improvements for the Leased Premises shall be at the Tenant’s sole expense and in accordance with plans and specifications which have first been approved by the Landlord, such approval not to be
unreasonably withheld. 
 Section 2.4. Occupancy Prior to Commencement Date. Provided this Lease has been executed by the Tenant in a
form satisfactory to the Landlord, the Tenant shall have access to the Leased Premises, whether exclusively or in common with the Landlord, for the purpose of making leasehold improvements in or to the Leased Premises (the “Tenant Improvement
Work”) and preparing the Leased Premises for occupancy prior to the Commencement Date. Upon completion of the Tenant Improvement Work, the Tenant shall provide to the Landlord evidence substantiating the total costs incurred by the Tenant with
respect to completion of its leasehold improvements (the “Tenant Improvement Costs”), in order that the Landlord may determine the amount of compensation due to the Tenant in the event the Landlord exercises its right pursuant to
Section 6.11 hereof. During any period the Tenant is in possession of the Leased Premises prior to the Commencement Date, the Tenant shall be bound by all terms and conditions of this Lease, save and except for the payment of Base Rent and its
Proportionate Share of Operating Costs and Taxes. 
 Section 2.5. Delay in Occupancy. If for any reason, other than delays caused by
the Tenant or failure of the Tenant to complete its work, the Leased Premises are not completed and ready for occupancy on the Commencement Date, Rent shall abate until the Leased Premises are completed and ready for occupancy and such abatement of
Rent shall be in full settlement of all claims which the Tenant might otherwise have by reason of the delay. 
 Section 2.6. Tenant to
Take Possession. The Tenant shall execute this Lease and take possession of the Leased Premises and occupy the Leased Premises for business not later than the Commencement Date and if the Tenant fails to do so, the Landlord in any of such events
and in addition to any and all other remedies available to it shall have the right at its option to terminate this Lease without notice to the Tenant and to recover from the Tenant the cost of all work done by the Landlord on the Tenant’s
behalf. 
  

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 ARTICLE III 
 RENT 
 Section 3.1. Base Rent. From and after the Commencement Date, the Tenant shall pay
to the Landlord in lawful money of Canada, without any deduction, abatement or setoff whatsoever, an annual Base Rent for the Leased Premises of TWENTY-EIGHT THOUSAND, THREE HUNDRED AND EIGHTY DOLLARS ($28,380.00), being TWO THOUSAND, THREE HUNDRED
AND SIXTY-FIVE DOLLARS ($2,365.00) per square foot of the gross leasable area of the Leased Premises being 4,130 square feet, payable in equal consecutive monthly instalments of SIX DOLLARS ($6.00) on the first day of each and every month throughout
the Term. 
 Section 3.1.1 Advance Rent. The Landlord acknowledges the receipt of FOURTEEN THOUSAND, TWO HUNDRED AND
TWENTY-NINE DOLLARS AND FORTY-TWO CENTS ($14,229.42), to be applied towards payment of the first and last month’s Rent and applicable GST payable under this Lease. 
 Section 3.2. Additional Rent. From and after the Commencement Date, the Tenant shall pay to the Landlord in lawful money of Canada, without any deduction, abatement or setoff whatsoever and without
duplication. Additional Rent for the Leased Premises equal to the aggregate of the following amounts: 
 (a) the amount of
Taxes imposed in respect of the Leased Premises provided that if a separate assessment is issued or allocated in respect of the Leased Premises but not a separate tax bill, then the amount of the Taxes payable by the Tenant shall be equal to the
amount obtained by multiplying such assessment by the applicable commercial mill rate; plus the Tenant’s Proportionate Share of Taxes imposed in respect of the Service Areas and Leasable Service Areas, if separately assessed. 
 (b) the Tenant’s Proportionate Share of the operating costs of the Building and Rights in Common. For the purpose of this Lease,
“Operating Costs” means the aggregate of all costs and expenses actually incurred or accrued by the Landlord or by others on behalf of the Landlord in connection with the management, supervision, administration, operation, cleaning,
maintenance, repair, replacement and insurance of the Building. By way of example and without limiting the generality of the foregoing, Operating Costs shall include the costs of all repairs required in the maintenance of the Building and Rights in
Common, heating costs and the cost of steam for heating or other purposes, elevator maintenance costs, equipment rental (fixed or otherwise), the costs of providing hot and cold water, the costs of electricity not otherwise chargeable to any tenant
or tenants of the Building, the costs of air-conditioning, window cleaning, snow removal, landscaping, uniforms and security, all fire, casualty, liability and other insurance costs, telephone and other utility costs, the amounts paid under service
contracts with independent contractors, all salaries, wages and other remuneration and the cost of benefits paid to employees of the Landlord engaged in operating and maintaining the Building and Rights in Common, sums equal to the annual amounts
required to fully amortize on a straight line basis over its useful life, equipment, fixed or otherwise, paid for by the Landlord and used to provide services to the Building and Rights in Common, legal appraisal and accounting fees incurred for the
purpose of attempting to reduce Taxes and the various costs referred to in this subsection, business taxes assessed against the Landlord with 

  

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respect to the Building, that portion of the capital or place of business tax payable by the Landlord and attributable to the Building and Rights in Common,
and all other expenses paid or payable by the Landlord in connection with the management and operation of the Building and Rights in Common but excluding Taxes, taxes on income, capital expenditures (save for the annual amortization amounts with
respect to equipments fixed or otherwise, paid for by the Landlord and used to provide services to the tenants of the Building), any provisions for depreciation on or in respect of the Building, interest on debt or capital retirement of debt, any
amounts directly chargeable by the Landlord to any tenant or tenants of the Building, any costs incurred by the Landlord relating to the leasing of space or premises in the Building (including leasing commissions), and the cost of repairs to the
extent of insurance proceeds received by the Landlord from claims made with respect to the items so repaired. If in any year during the Term the Building is not fully leased or occupied, Operating Costs for such year shall be adjusted to reflect the
amount which would have been payable if the Building had been fully leased and occupied during such year. The Tenant acknowledges that certain services, facilities and utilities are available for the joint use of the Building, and the lands and
building municipally known as 144 Front Street West, located immediately to the east of the Building, and that in determining the costs and expenses to be included in Operating Costs, the Landlord, acting reasonably and equitably, shall make an
allocation or allocations of such costs and expenses which the Landlord determines is attributable to the Building. 
 The Landlord estimates
the Tenant’s Additional Rent as set out in subsections (a) and (b) of this section and the cost of hydro consumption in the Leased Premises for the 1998 calendar year to be approximately TWELVE -DOLLARS AND FIVE CENTS ($12.05) per
square foot of gross leasable area, which estimate is subject to escalations. The Tenant acknowledges that the Landlord is making no representation or warranty with respect to the property taxes for the 1998 calendar year. 
 Section 3.3. Payment of Annual Base Rent. The annual Base Rent shall be paid in monthly instalments in advance. The Base Rent for the portion
of the Term beginning on the Commencement Date to and including the last day of the month in which the Commencement Date occurs shall be pro-rated and paid in advance on the Commencement Date and thereafter a monthly instalment of Base Rent shall
fall due and be paid in advance on the first day of each and every month throughout the Term. 
 Section 3.4. Payment of Additional
Rent. The Additional Rent shall be payable to the Landlord upon demand therefor or at the option of the Landlord shall be payable in monthly instalments in advance on the dates and at the times for payment of Base Rent provided for in this
Lease. The Landlord shall deliver to the Tenant, not less frequently than annually, a statement showing in reasonable detail the information relevant and necessary to the calculation of the amount of Additional Rent, in the case of the first such
statement for the period from the date from which Rent commences to accrue under this Lease and in the case of each such subsequent statement from the date to which the immediately preceding statement was made up. 
 If Additional Rent is payable by monthly instalments, then until the first statement of Additional Rent has been delivered, the Additional Rent shall be
based upon the reasonable estimate of the Landlord and thereafter, the Additional Rent shall be the amount stipulated as such in the most 

  

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recent prior statement of Additional Rent delivered to the Tenant by the Landlord, adjusted to an annual basis if necessary. If the aggregate of the monthly
instalments, if any, paid by the Tenant in respect of the period to which any settlement of Additional Rent relates is less than the amount shown by such statement to be payable by the Tenant, the Tenant shall forthwith pay the amount of the
deficiency to the Landlord. If the aggregate of the monthly instalments, if any, paid by the Tenant in respect of the period to which such statement of Additional Rent relates exceeds the amount shown by such statement to be payable by the Tenant,
the amount of such excess shall be applied pro tanto in satisfaction of the next ensuing instalments of Rent or paid to the Tenant at the expiry or sooner termination or the Lease. 
 Section 3.5. Charges for Utilities. From and after the Commencement Date, the Tenant shall pay to the Landlord upon demand therefor:

 (a) all rates and charges for chilled water, water, gas and electric power services and utilities supplied to the Leased
Premises as determined by the Landlord on a consistent basis for all tenants of all premises in the Building, and 
 (b) a
reasonable amount for the cleaning, maintaining and servicing of the electric lighting fixtures in the Leased Premises including the replacement of electric light bulbs, tubes, starters and ballasts. 
 Such cleaning, maintaining, servicing and replacement shall be within the exclusive right of the Landlord. 
 Section 3.6. Rent in Arrears. All Rent in arrears shall bear interest at the Stipulated Rate of Interest from the date on which the same
became due until the date of payment thereof. 
 ARTICLE IV 
 TENANT’S COVENANTS 
 Section 4.1. Tenant to Pay Rent. The
Tenant covenants to pay Rent. 
 Section 4.2. Tenant to Pay Certain Taxes. The Tenant shall pay and discharge on or before the
date when the same or the installments for the same become due provided that a request therefor and/or a statement thereof have been provided to the Tenant by the Landlord or the taxing authority: 
 (a) all taxes, levied, rated, charged or assessed in respect of the Leasehold Improvements and all movable trade fixtures and furniture
and equipment in or on the Leased Premises, and 
 (b) every tax, rate, duty, assessment and license fee in respect of any and
every business conducted on or from the Leased Premises and of the use or occupancy of the Leased Premises by the Tenant including, without limitation, all business taxes, rates and licenses. 
 Section 4.3. Separate School Taxes. If the Leased Premises are assessed in whole or in part for the support of separate schools the Tenant shall
pay and discharge as Rent on or before the date when the same or the instalments for the same become due the amount by which Taxes for the Building so payable exceed those which would have been payable except for such assessment for the support of
separate schools. 
  

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 Section 4.4. Use of Leased Premises. The Tenant shall use the Leased Premises only for
general office purposes in connection with the trade or business carried on by the Tenant on the Commencement Date. 
 Section 4.5.
Prohibited Uses of Leased Premises. The Leased Premises shall not be used in any manner which obstructs any part of the Service Areas or Leasable Service Areas or for any purpose except that permitted by Section 4.4. The Tenant
shall not use or permit any part of the Leased Premises to be used in any manner which interferes with or intrudes upon the use and enjoyment of the Building or the Rights in Common by any other tenant or which in the opinion of the Landlord, acting
reasonably, is inconsistent with the general character of the Building. 
 Section 4.6. No Waste. The Tenant shall not commit or
suffer to be committed any waste upon the Leased Premises or do or suffer any act or thing which may disturb the quiet enjoyment of any other tenant or which may result in a nuisance. 
 Section 4.7. Signs. The Tenant shall not paint, display, inscribe, place or affix any sign, picture, advertisement, notice, lettering or
direction on any part of the exterior of the Leased Premises or so as to be visible from the exterior of the Leased Premises. The Tenant shall adhere to the uniform pattern of identification signs for tenants to be placed on the outside of the doors
leading into the premises of tenants of part floors. 
 The Landlord acknowledges and agrees that it shall, at its expense, add the
Tenant’s corporate name to all present and planned internal directory board(s) and panels used for displaying the Building tenants’ roster and suite numbers. 
 Section 4.8. Obligation to Repair. The Tenant covenants that from and after the Commencement Date: 
 (a) the Tenant shall maintain and repair the Leased Premises (except the Tenant shall not make repairs for which the Landlord is responsible under this Lease); provided that the Tenant shall pay to the Landlord the
cost of replacement with as good a quality and size of any glass broken or cracked on the Leased Premises, 
 (b) at any time
in cases of emergency and upon reasonable notice during Normal Business Hours, the Landlord may enter and view the state of repair, and 
 (c) the Tenant shall repair the Leased Premises according to notice in writing. 
 Section 4.9. Exceptions
to Tenant’s Obligation to Repair. The obligations of the Tenant under Section 4.8 shall be subject to the following exceptions: 
 (a) reasonable wear and tear which does not affect the proper use and enjoyment of the Leased Premises in accordance with this Lease, 
  

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 (b) injury caused by fire, lightning, tempest or other casualty for which the Landlord is
indemnified under any policy of insurance unless caused by the act, default or negligence of the Tenant or those for whom the Tenant is in law responsible. 
 (c) injury to the Leased Premises caused by or resulting from structural defects or weakness, and 
 (d) injury caused by or resulting from the negligence of the Landlord, its officers, servants, agents or employees. 
 Section 4.10.
Compliance by Tenant with Statutes, Orders, etc. Except for matters which are prior to the Commencement Date and/or are the responsibility of the Landlord under this Lease, the Tenant at its expense shall comply with and conform to the
requirements of every applicable lawful statute, law, by-law, ordinance, regulation and order and with every reasonable regulation and order of the Insurers’ 
 Advisory Organization of Canada or of any body having similar functions, or of any liability or fire insurance company by which the Tenant or the Landlord may be insured affecting the operation, condition,
maintenance, use or occupation of the Leased Premises and the making of any alteration or addition therein or thereto whether or not such alteration or addition be required on account of any particular use to which the Leased Premises may be put and
whether or not such requirement, regulation or order be of a kind now existing or within the contemplation of the parties. 
 Section 4.11.
Notice of Defects or Damage. The Tenant shall promptly notify the Landlord of any defect or deficiency in, malfunction of, or damage to the Leased Premises or any equipment, service or utility therein of which the Tenant becomes aware at
any time during the Term. 
 Section 4.12. Tenant’s Insurance. From and after the Commencement Date the Tenant, in the names
of the Tenant, the Landlord and every mortgagee of the Leased Premises, shall take out and maintain with respect to the Leased Premises and the Tenant’s use and occupation thereof and furnish to the Landlord certificates of a policy or policies
(containing deductible clauses) of an insurance company or companies reasonably acceptable to the Landlord and such mortgagees of: 
 (a) insurance against loss by fire and those additional perils contained in the “extended perils” endorsement of such insurance company or companies usual from time to time for similar risks, and such other insurable hazards as
the Landlord may from time to time reasonably request, on a replacement cost basis in an amount sufficient to cover the cost of replacement of all Leasehold Improvements made, constructed, erected or installed in or to the Leased Premises, and

 (b) legal liability for bodily injury or death and property damage resulting from each occurrence up to such limits as the
Landlord may from time to time reasonably request, but in any event not less than $3,000,000.00 all-inclusive. 
 The proceeds of every
policy of insurance maintained under Section 4.12(a) shall be applied to repair the injury with respect to which such proceeds are payable. 
  

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 Section 4.13. Increase in Insurance Premiums. The Tenant shall pay to the Landlord forthwith
on demand therefor any amount by which the basic premium of insurance paid by the Landlord is increased by reason of any particular use or occupation of the Leased Premises or by reason of any provision of this Lease. 
 Section 4.14. Indemnity by Tenant. The Tenant shall indemnify and save harmless the Landlord from any and all liabilities, damages, costs,
claims, suits or actions resulting from: 
 (a) any breach, violation or non-performance of any covenant, obligation or
agreement of the Tenant under this Lease, 
 (b) any damage to property however occasioned by the Tenant, its officers, agent,
servants, employees, contractors, customers, invitees or licensees and any injury to any person or persons, including death resulting at any time therefrom, occurring in or on the Leased Premises or the Building or the Rights in Common or any part
thereof arising from or occasioned by any cause whatever, except where such damage or injury is due to the act, default or negligence of the Landlord, its officers, agents, servants, employees or contractors, not under the direction or supervision
of the Tenant, and 
 (c) any contract, lien, privilege, mortgage, charge or encumbrance on the Building arising from or
occasioned by the act, default or negligence of the Tenant, its officers, agents, servants, employees, contractors, customers, invitees or licensees. 
 and
such indemnification shall survive the termination of this Lease, anything in this Lease to the contrary notwithstanding. 
 Section 4.15.
Surrender of Leased Premises. At the expiration or earlier termination of the Term the Tenant shall peaceably surrender and yield up to the Landlord the Leased Premises and all Leasehold Improvements made, constructed, erected or
installed in the Leased Premises in good and substantial repair and condition in accordance with its covenants to maintain and repair the Leased Premises. On the expiration of the Term all Leasehold Improvements made, constructed, erected or
installed in the Leased Premises shall be deemed to have become the property of the Landlord. 
 Section 4.16. Removal of Tenant’s
Property. At any time within thirty (30) days prior to the expiration of the Term the Tenant, if not in default under this Lease, may, remove from the Leased Premises all its movable trade fixtures and furniture and equipment (other
than rugs, carpeting and floor coverings attached in any way to the Leased Premises) not affixed to the Leased Premises but the Tenant shall repair any damage to the Leased Premises and the Building which may be occasioned by such removal. On the
expiration of the Term all such moveable trade fixtures and furniture and equipment not so removed shall be deemed to have become the property of the Landlord. 
  

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 Notwithstanding anything to the contrary contained in this Lease, the Tenant shall not be responsible for
the removal of any of the leasehold improvements in the Leased Premises or the restoration of the Leased Premises to a base building condition at the expiry or sooner termination of this Lease. 
 Section 4.17. Exhibit Leased Premises. At any time during the Term, the Landlord may exhibit the Leased Premises to prospective
purchasers or mortgagees of the Building and during the six (6) months prior to the expiration of the Term, the Landlord may exhibit the Leased Premises to prospective tenants. 
 Section 4.18. Assignment and Subletting. The Tenant shall not assign this Lease nor sublet the whole or any part of the Leased Premises
except with the prior written consent of the Landlord, which consent shall not be unreasonably withheld; provided that: 
 (a)
the Tenant shall deliver to the Landlord its written request to such assignment or sublease together with a copy of the proposed assignment or sublease and shall provide the Landlord with such information as the Landlord may reasonably require with
respect to the business and financial responsibility and standing of the proposed assignee or subtenant, and 
 (b) within
fourteen (14) days after the receipt by the Landlord of such request and information, the Landlord, by notice in writing to the Tenant, if the request was to assign this Lease or to sublet the whole of the Leased Premises, may terminate this
Lease or, if the request was to sublet a portion of the Leased Premises, may terminate this Lease with respect to such portion. Such termination shall be effective on a date named in such notice which shall be the last day of a month not less than
thirty (30) days nor more than one hundred and twenty (120) days following the delivery of such notice. Upon such termination of this Lease as to a portion of the Leased Premises the Tenant shall peaceably surrender and yield up to the
Landlord such portion of the Leased Premises in accordance with the provisions of this Lease relating to the surrender of the Leased Premises at the expiration or the Term and thereafter the Rent shall be adjusted accordingly. 
 Notwithstanding to the foregoing, if the Landlord elects to terminate this Lease in accordance with the provisions of this subsection 4.18 (b), the
Tenant shall have the right, to be exercised by written notice to the Landlord within two (2) days after receipt or the Landlord’s notice, to withdraw the request for consent, in which case the Tenant shall not proceed with such assignment
or subletting. The Landlord’s notice shall be null and void and this Lease shall continue in full force and effect. 
 The Tenant shall
not grant any concession or enter into any licence or franchise to use the Leased Premises or any part thereof. 
 If the Tenant is an
incorporated company, any change in the effective voting or other control of the company shall be deemed for the purposes hereof, to be an assignment of this Lease. 
 All of the Landlord’s legal fees or documentation fees, or both, necessary to the Landlord’s consent or lack of consent shall be borne by the Tenant. In the event of such assignment or subletting, the Tenant
agrees to pay to the Landlord the Landlord’s then current charge. 
  

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 Section 4.19. Effect of Assignments, Etc. No assignment, or other disposition by the Tenant
of this Lease or of any interest under this Lease, shall relieve the Tenant from the performance of its covenants, obligations or agreements under this Lease. Such assignment or other disposition shall render null and void at the time of such
assignment or other disposition any options or rights to renew this Lease, options or rights to additional space and options or rights to car parking spaces unless the Landlord shall have otherwise agreed in writing. 
 Section 4.20. Keep Tidy. At the end of each business day the Tenant shall leave the Leased Premises in a reasonably tidy condition for the
purpose of the performance of the Landlord’s cleaning services hereinafter referred to. 
 ARTICLE V 
 LANDLORD’S COVENANTS 
 Section
5.1. Quiet Enjoyment. The Landlord covenants with the Tenant for quiet enjoyment. 
 Section 5.2. Repair. The
Landlord shall keep or cause the Building and the Rights in Common, to be kept in good repair and in a clean, orderly and safe condition (both inside and outside). 
 Section 5.3. Heating, Air-Conditioning, Janitorial Service, Etc. The Landlord in the same manner and to the same extent as a prudent owner and operator of the Building shall: 
 (a) provide and maintain, at least to the extent from time to time required under all provisions of this Lease, suitable and adequate
Service Areas and Leasable Service Areas for use during Normal Business Hours in the conduct of business in the Building by the Tenant and all others entitled thereto, 
 (b) provide and maintain passenger elevator service during Normal Business Hours. 
 (c) provide heating of the Leased Premises to an extent sufficient to maintain a reasonable temperature therein at all times during Normal
Business Hours, 
 (d) provide air-conditioning of the Leased Premises during Normal Business Hours with the existing
air-conditioning equipment (if any) for the Leased Premises, 
 (e) provide janitorial services for the Leased Premises and
the Rights in Common and the Leasable Service Areas and Service Areas to an extent sufficient to maintain them in a reasonably clean condition and when reasonably necessary from time to time to cause the exterior windows of the Building to be
washed. 
 (f) employ personnel necessary to operate and maintain the heating and air-conditioning systems of the Building and
the Rights in Common and to supervise the Building during Normal Business Hours. 
  

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 Section 5.4. Exceptions to Landlord’s Obligations. The obligations of the Landlord under
Sections 5.2 and 5.3 shall be subject to the following exceptions: 
 (a) reasonable wear and tear which does not affect
the proper use and enjoyment of the Building. 
 (b) repairs to, replacement or shampooing of carpeting (if any) in the Leased
Premises, 
 (c) the obligations of the Tenant under Article IV. 
 (d) damage or injury resulting from any occurrence for which the Landlord is not required to maintain insurance under this Lease, and

 (e) damage or injury caused by or resulting from any act, default or negligence of the Tenant, its officers, agents,
servants, employees, contractors, invitees and licensees. 
 Section 5.5. Landlord’s Insurance. The Landlord shall take out
and maintain or cause to be taken out and maintained with respect to the Building a policy or policies containing deductible clauses of any insurance company or companies of: 
 (a) insurance against destruction or damage by fire and those additional perils contained in the “extended perils” endorsement
of such insurance company or companies usual from time to time for similar risks on a replacement cost basis excluding the replacement value of footings, foundations and pavements, and 
 (b) legal liability for bodily injury or death and property damage resulting from each occurrence up to such limits as the Landlord may
from time to time reasonably determine but in any event not less than $3,000,000.00 all-inclusive. 
 Section 5.6. Building
Taxes. Subject to Article IV, the Landlord shall pay or cause to be paid in the year in which same are due all Taxes levied, rated, charged or imposed against the Building. 
 ARTICLE VI 
 MUTUAL COVENANTS 
 Section 6.1. Entry by Landlord. The Landlord and its officers, agents, servants, employees and contractors shall be entitled at any time in
cases of emergency or upon reasonable notice during Normal Business Hours to enter upon the Leased Premises for the purpose of making any repair in this Lease required or permitted to be made by the Landlord and for the purpose of making any repair
which the Tenant fails to make according to notice in writing, or to do any work which the Landlord is required or permitted to do under this Lease. 
 Section 6.2. Maintenance of Services, etc. The Landlord shall have the right to use, install, maintain and repair pipes, wires, ducts and other installations in, under or through the walls, ceilings and
floors of the Leased Premises for or in connection with the supply of any services or utilities to 
  

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the Leased Premises or to any part of the Building or the Rights in Common and the right to do such work in the Leased Premises as the Landlord may deem
necessary to preserve, improve or protect the Leased Premises or the Building. 
 Section 6.3. Suspension of Services. In order
to make any repairs, alterations, improvements or additions in or relating to the Leased Premises or to any part of the Building or the Rights in Common, the Landlord, if such action is necessary, may interrupt or suspend the supply to the Leased
Premises of any services or utilities until such repairs, alterations, improvements or additions shall be completed provided that such work shall be diligently proceeded with. 
 Section 6.4. Entry by Landlord Not to Interfere. The Landlord and its officers, agents, servants, employees and contractors in entering the
Leased Premises or in making any repair or in doing any work shall not unreasonably or unnecessarily interfere with or disturb the conduct of the business of the Tenant. 
 Section 6.5. Entry in Absence of Tenant. If the Tenant or its representative shall not be personally present to open and permit an entry into the Leased Premises at any time when for any reason an entry
therein shall be necessary or permissable under this Lease, the Landlord or the Landlord’s agent may enter the same by a master key, or may forcibly enter the same, without rendering the Landlord or such agent liable therefor, and without in
any manner affecting the covenants, obligations and agreements of the Tenant under this Lease. 
 Section 6.6. Overholding. If at
the expiration of the Term by lapse of time unless this Lease has been renewed in accordance with the provisions of Section 10.1 hereof, the Tenant shall hold over without the written content of the Landlord for any reason the tenancy of the
Tenant thereafter shall be from month to month at a 100% increased monthly rent and shall, in the absence of written agreement to the contrary, be subject to all covenants, obligations and agreements provided for in this Lease, except as to duration
and rights of renewal, if any. 
 Section 6.7. Limit of Landlord’s Liability. Except for matters arising from the negligence
of the Landlord, its officers, agents, servants, employees or contractors, the Landlord shall not be liable or responsible in any way for, and the Tenant shall not be entitled to any abatement of Rent in respect of, any loss, damage or injury of any
nature whatever that may be suffered or sustained to any persons or property, and in particular, without limiting the generality of the foregoing, the Landlord shall not be liable for any loss, damage or injury of any nature whatever to any person
or persons or property: 
 (a) resulting from any defect in the Leased Premises or in the Building or the Rights in Common,

 (b) resulting from the condition or arrangement or from the interruption or breakdown of any elevators, heating,
ventilating, air-conditioning or mechanical, sprinkler or electrical equipment or machinery or of any water, gas, sewage, telephone or other communications facilities or electrical power services or utilities comprised in the Leased Premises or in
the Building or the Rights in Common or belonging thereto, connected therewith or used in the operation thereof. 
  

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 (c) by reason of the failure to supply adequate drainage, 
 (d) by reason of steam, smoke, water, rain, snow or other substances leaking, issuing, flowing or escaping into any part of the Leased
Premises or, 
 (e) resulting from anything done or omitted to be done by the Landlord, its servants, employees, agents,
contractors, customers, invitees or licensees, by other occupants of the Building, or by persons in the Leased Premises or the Building, by occupants of adjacent property or by the public. 
 nor shall the same constitute an eviction. 
 Section 6.8. Landlord’s Alterations. The Landlord at any time and from time to time may make alterations or additions to, and construct additional stories on the Building, and may build adjoining the
same. No such alterations, addition or construction shall unreasonably interfere with access to the Leased Premises. 
 Section 6.9.
Tenant’s Alterations. The Tenant shall not make any alteration, repair, addition or improvement to the Leased Premises nor make, construct, erect or install any Leasehold Improvements in or to the Leased Premises, except with the
prior written approval of the Landlord, such approval not to be unreasonably withheld, and in accordance with the procedures and provisions set out in this section. Before beginning any such work the Tenant shall deliver to the Landlord sufficient
copies of its plans and specifications therefor and such other information as the Landlord may reasonably require with respect thereto. The Landlord may require revisions to such plans and specifications and payment of the cost to the Landlord of
having its architects approve such plans and specifications as conditions of its approval for such work. Such approval shall not release the Tenant from its obligation to obtain a building permit if one is necessary. All such work shall be done by
Tenant: 
 (a) in accordance with the applicable requirements of all regulatory authorities having jurisdiction with respect
thereto, 
 (b) as expeditiously as possible in a good and workmanlike manner and with first-class new materials, 

(c) in compliance with such reasonable rules and regulations as the Landlord or its agents or contractors may make, 
 (d) in such manner as will not interfere unreasonably with the work being done by the Landlord upon the Leased Premises or any other
portion of the Building, 
 (e) subject to the reasonable supervision of the Landlord or its agents or contractors and the
payment of a reasonable fee in connection with such supervision, 
 (f) only by contractors approved by the Landlord; provided
that the Landlord may at its option require any mechanical or electrical work be done by the Landlord’s contractor, 
  

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 (g) only by persons whose labour union affiliations are acceptable to the unions of which
the employees of the Landlord, its contractors or subcontractors are members, and 
 (h) at the risk of the Tenant.

 Any such work which is not done in accordance with the plans, specifications, information and revisions delivered to and approved by the
Landlord or is not otherwise in accordance with the requirements of this section, and which has not been removed or corrected forthwith after demand, may be removed or corrected by the Landlord at the expense of the Tenant. The Tenant shall also pay
to the Landlord with respect to such work, the reasonable cost to the Landlord of all utilities supplied to the Leased Premises with respect to such work and any special or additional services provided to the Tenant during the conduct of such work,
including special supervision, the cost of any necessary cutting or patching of or repairing any injury to the Building or to 144 Front Street West, or the Leased Premises, any cost to the Landlord of removing refuse or materials and of cleaning as
a result of such work, any cost to the Landlord of changes required by the Tenant for the use of the Leased Premises, and all other costs incurred for the accommodation of such work (including delays caused by the conduct of such work) and any other
cost of the Landlord which can reasonably be allocated as a direct expense relating to the conduct of such work. Such costs of the Landlord shall be paid to the Landlord by the Tenant as they are incurred by the Landlord and invoiced to the Tenant.
Any such invoices may be based upon the Landlord’s reasonable estimate of any cost wherever such cost cannot be exactly determined from information then available to the Landlord. 
 Section 6.9.1 Tenant to Discharge all Liens 
 (a) The Tenant will not allow or cause any construction or other liens or encumbrances in respect of materials supplied or work done or to be done by or on behalf of the Tenant to be registered against or otherwise
affect the Building, the Lands, the Leased Premises or any part thereof or the Landlord’s or Tenant’s interest in the Leased Premises. 
 (b) If a lien or other encumbrance is registered against or otherwise affects the Building or the Leased Premises or the Landlord’s or Tenant’s interest therein, and the Tenant fails to discharge or cause
any such lien or encumbrance to be discharged or vacated within five (5) days after it is filed or registered, then the Landlord may, in addition to its other rights and remedies, discharge the lien or encumbrance or have it vacated by paying
the amount claimed into court or directly to the lien claimant and the Tenant will pay to the Landlord, upon demand, all costs (including the amount so paid and any legal costs and expenses) plus interest at an annual rate of three
(3) percentage points above the Stipulated Rate of Interest, calculated and compounded monthly. 
 Section 6.10. Termination in the
Event of Damage. Notwithstanding the other provisions of this Lease, if the Building or the Rights in Common is damaged or destroyed by any casualty against which the Landlord is insured so as to render the Leased Premises unfit for the
purpose of the Tenant or incapable of access, the Rent reserved by this Lease or a proportionate part thereof shall abate to the extent of insurance recoveries received by the Landlord from the date of the damage or 
  

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destruction, until the Leased Premises are rebuilt unless the Tenant is obliged to repair under the terms of this Lease; provided that upon the delivery of
an Architect’s Certificate to the effect: 
 (a) that the Leased Premises cannot be rebuilt or made fit for the purposes
of the Tenant within one hundred and twenty (120) days of such damage or destruction, the Landlord, at its option, instead of making the Leased Premises fit for the Tenant, may terminate this Lease by giving to the Tenant within thirty
(30) days after such damage or destruction notice of the termination, and thereupon Rent shall be apportioned and paid to the date of such damage or destruction and the Tenant shall immediately deliver up vacant possession of the Leased
Premises to the Landlord; 
 (b) that irrespective or whether the Leased Premises are damaged or destroyed, fifty percent
(50%) or more of the leasable area of the Building or the Rights in Common is damaged or destroyed and such area cannot be rebuilt or made fit for the purposes of the tenants of such leasable area within one hundred and eighty (180) days
or such damage or destruction, the Landlord, at its option, may terminate this Lease by giving to the Tenant within thirty (30) days after such damage or destruction notice of termination requiring vacant possession of the Leased Premises sixty
(60) days after delivery of such notice of termination and thereupon Rent and any other payments for which the Tenant is liable under this Lease shall be apportioned and paid to the date on which vacant possession is required and the Tenant
shall deliver up vacant possession of the Leased Premises to the Landlord in accordance with such notice of termination and the provisions of this Lease. 
 Section 6.11. Termination for Demolition. Notwithstanding any other provisions of this Lease, if the Landlord shall have decided or determined, in its sole and absolute discretion, to: 
 (a) sell the whole or any part of the Building of which the Leased Premises form a part; 
 (b) demolish the whole or any part of the Building of which the Leased Premises form a part; or 
 (c) redevelop, reconstruct, renovate or alter the whole or any part of the Building of which the Leased Premises form a part; 

to the extent that vacant possession of the Leased Premises is necessary, expedient or desired, as determined by the Landlord in its sole and absolute discretion, the
Landlord may unilaterally terminate this Lease by giving not less than twelve (12) months notice in writing to the Tenant. It is hereby acknowledged and agreed by the parties hereto that the Tenant shall have no claim or cause of action
whatsoever (including but not limited to claims for damages, losses, expenses and other compensation) against the Landlord with respect to, relating to or arising from such termination of the Lease by the Landlord and that the Landlord shall have no
obligation or liability whatsoever to the Tenant with respect to, relating to or arising from such termination of the Lease by the Landlord. On the last day of the aforementioned twelve (12) month notice period or on such other termination date
as specified in the written notice to the Tenant, the Tenant shall deliver up vacant possession of the Leased Premises to the Landlord in accordance with the provisions of this Lease and shall 

  

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execute all documents and other assurances deemed necessary or desirable by the Landlord in its sole and absolute discretion to give effect to the provisions
of this Section. 
 In the event the Landlord exercises the foregoing termination right and provided: (i) the Tenant has not been in
default of any of its covenants and obligations under this Lease; and (ii) the Tenant has submitted evidence to the Landlord substantiating the Tenant Improvements Costs incurred pursuant to Section 2.4 hereof, the Landlord shall
compensate the Tenant for the undepreciated portion of the Tenant Improvement Costs calculated in accordance with the applicable amount, depending on the month in which the effective date of termination occurs, as set out below: 
  

				
	No. of Months after
Commencement Date	  	Amount
	0-12	  	$	25.000.00
	13-24	  	$	20,000.00
	25-36	  	$	15,000.00
	37-48	  	$	10,000.00

 Section 6.12. Rules and Regulations. The Landlord shall be entitled from time to time
to make and to amend and supplement reasonable rules and regulations not inconsistent with this Lease and applying uniformly to all tenants in the Building. Without limiting the generality of the foregoing, such rules and regulations may relate to
and govern the operation, maintenance, safety, care, cleanliness and use of the Building, the Leased Premises, the Leasable Service Areas and the Service Areas, and access to the Building and the Rights in Common and the Leased Premises other than
during Normal Business Hours. The Tenant shall comply with the rules and regulations set out in Schedule “B” to this Lease and any amendments or supplements thereto and shall cause its officers, agents, servants, employees,
contractors, customers, invitees and licensees to comply with such rules and regulations. The Landlord shall be under no responsibility for its failure to enforce any of such rules or regulations. The Landlord shall give reasonable notice to the
Tenant of any amendments or supplements to such rules and regulations. 
 Section 6.13. Transfers by Landlord. The Landlord, at
any time and from time to time, may sell, transfer, lease, assign or otherwise dispose of the whole or any part of its interest in the Building or in the Leased Premises and, at any time and from time to time, may enter into any mortgage of the
whole or any part of its interest in the Building or in the Leased Premises. If the party acquiring such interest shall have agreed to assume, and so long as it holds such interest, to perform each of the covenants, obligations and agreements of the
Landlord under this Lease in the same manner and to the same extent as if originally named as the Landlord in this Lease the Landlord shall thereupon be released from all of its covenants, obligations and agreements under this Lease. 
 Section 6.14. Rights of Landlord’s Mortgagees. If at any time during the currency of a mortgage of the interest of the Landlord in the
Leased Premises notice of which has been given to the Tenant, any default shall occur in the performance of any of the covenants, obligations or agreements of the Landlord which would give rise to a right in the Tenant to terminate this Lease,

  

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then the Tenant, before becoming entitled as against the holder of such mortgage to exercise any right to terminate this Lease, shall give to the holder of
such mortgage notice in writing of such default. The holder of such mortgage shall have such period as may be reasonable in the circumstances within which to remedy such default as agent of the Landlord (or by such other means as will avoid the
holder of such mortgage becoming a mortgagee in possession of the Leased Premises by reason of effecting such remedy) and if such default is remedied within such time the Tenant shall not by reason thereof terminate this Lease. The rights and
privileges granted to the holder of any such mortgage by virtue of this section shall not in any way be deemed to alter, affect or prejudice any of the rights available to the Tenant against the Landlord. Any notice to be given to the holder of such
mortgage shall be deemed to have been given if mailed by registered mail to its most recent address of which the Tenant shall have notice. 
 Section 6.15. Priority of Lease. This Lease and all rights of the Tenant under this Lease subject and subordinate to all ground or underlying leases and to all mortgages now or hereafter made by the Landlord provided that the
holder thereof shall permit the Tenant to remain in possession of the Leased Premises in accordance with the provisions of this Lease so long as the Tenant is not in default under this Lease. The Tenant, if so required, shall attorn to the mortgagee
upon the foreclosure of any such mortgage and to the purchaser under the sale of the Building pursuant to any such mortgage and shall recognize such mortgagee or purchaser as the Landlord under this Lease; provided that the holder of any such
mortgage may subordinate and postpone such mortgage to this Lease at any time by an instrument in writing to such effect registered against the title to the Building without any further consent or agreement of the Tenant. 
 Section 6.16. Right to Relocate. At any time and from time to time prior to or during the Term or any renewal(s) thereof, the Landlord shall
be entitled to relocate or rearrange the Leased Premises from the location shown on Schedule “A” or to make alterations, additions or reductions to the Leased Premises provided that: 
 (a) the leasable area of the Leased Premises is not increased or decreased by more than ten percent (10%); and 
 (b) the Landlord effects such alterations, additions, reductions, relocation or rearrangement at its expense, including (i) all
reasonable moving costs and (ii) all other reasonable direct costs incurred by the Tenant. All such costs shall be as evidenced by paid invoices delivered by the Tenant to the Landlord. 
 ARTICLE VII 
 LANDLORD’S REMEDIES 
 Section 7.1. Landlord May Perform Tenant’s Covenants. If the Tenant shall be in default of any of its covenants, obligations or
agreements under this Lease (other than its covenant to pay Rent) and such default shall have continued for a period of ten (10) consecutive days after notice by the Landlord to the Tenant specifying with reasonable particularity the nature of
such default and requiring the same to be remedied, the Landlord, without prejudice to any other rights which it may have with respect to such default, may remedy such default and the cost thereof to the Landlord together with interest thereon at
the Stipulated Rate of Interest from the date such cost was incurred 
  

 -20- 

 
by the Landlord shall be added to the Rent due on the next succeeding date on which Base Rent is payable and such amount shall thereupon become due and
payable as Rent in addition to the regular payment of Base Rent then due. The Landlord shall be subrogated to the extent of such payment to all rights, remedies and priorities of the payee of the amount paid by the Landlord to remedy such default.

 Section 7.2. Re-Entry. When: 
 (a) the Tenant shall be in default in the payment of any Rent, whether lawfully demanded or not, and such default shall continue for a period of five (5) consecutive days after notice by the Landlord to the
Tenant, 
 (b) the Tenant shall be in default of any of its covenants, obligations or agreements under this Lease (other than
its covenant to pay Rent) and such default shall have continued for a period of ten (10) consecutive days after notice by the Landlord to the Tenant specifying with reasonable particularity the nature of such default and requiring the same to
be remedied, 
 (c) any property of the Tenant has been sold under a valid writ of execution, or the Tenant shall have made an
assignment for the benefit of creditors, or shall make any assignment or have had a receiving order made against it under the Bankruptcy Act, or becoming bankrupt or insolvent shall have made application for relief under the provisions of any
statute now or hereafter in force concerning bankrupt or insolvent debtors, or any action whatever, legislative or otherwise, shall have been taken with a view to the winding up, dissolution or liquidation of the Tenant, 
 (d) any insurance policy is cancelled or not renewed by an insurer by reason of any particular use or occupation of the Leased Premises,
or, 
 (e) the Leased Premises shall have been vacated or have become vacant or shall have remained unoccupied for a period of
fifteen (15) consecutive days. 
 then and in any of such cases, the then current month’s rent together with the Rent for the three (3) months
next ensuing shall immediately become due and payable, and at the option of the Landlord the Term shall become forfeited and void, and the Landlord without notice or any form of legal process whatever may forthwith re-enter the Leased Premises or
any part thereof in the name of the whole and repossess and enjoy the same as of its former estate, anything contained in any statute or law to the contrary notwithstanding. Such forfeiture shall be wholly without prejudice to the right of the
Landlord to recover arrears of Rent and damages for any antecedent breach of the covenants, obligations or agreements of the Tenant under this Lease. Notwithstanding any such forfeiture the Landlord may subsequently recover from the Tenant damages
for loss of Rent suffered by reason of this Lease having been prematurely determined and it may recover from the Tenant all damages it may incur with respect thereto, including the cost of recovering the Leased Premises, and including the worth at
the time of such termination of the excess, if any, of the amount of Rent, for the remainder of the Term over the then reasonable rental value of the Leased Premises for the remainder of the Term, all of which Rent shall be immediately due and
payable from the Tenant to the Landlord. In determining the Rent which would be payable under this Lease by the Tenant 

  

 -21- 

 
subsequent to default, the annual rent for each year of the unexpired portion of the Term shall be equal to the average of the aggregate of the Base Rent and
Additional Rent paid by the Tenant from the Commencement Date to the time of default, or during the three (3) full calendar years preceding such default, whichever period is shorter. 
 Section 7.3. Landlord May Re-let. If the Landlord does not exercise its option under Section 7.2 to terminate this Lease it may
nevertheless in the events set out in Section 7.2 from time to time re-enter the Leased Premises without terminating this Lease, make such alterations and repairs as may be necessary in order to re-let the Leased Premises, and re-let the Leased
Premises or any part thereof as agent for the Tenant for such period or periods (which may extend beyond the Term) and at such rental or rentals and upon such other terms and conditions as the Landlord in its sole discretion may deem advisable. Upon
each such re-letting all rentals received by the Landlord from such re-letting shall be applied; first, to the payment of any indebtedness other than Rent due from the Tenant to the Landlord; second, to the payment of any costs and expenses of such
re-letting, including brokerage fees and solicitor’s fees and of the costs of such alterations and repairs; third, to the payment of Rent due and unpaid, and the residue, if any, shall be held by the Landlord and applied in payment of future
Rent as the same may become due and payable. The Tenant shall pay to the Landlord the amount by which the rentals received from such re-letting during any month are less than the rent payable during that month by the Tenant. Notwithstanding any such
reletting without termination, the Landlord may at any time thereafter elect to terminate this Lease. No such re-entry or taking of possession by the Landlord shall be construed as an election on its part to terminate this Lease unless, at the time
of or subsequent to such re-entry or taking of possession, a written notice of such intention has been given to the Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. 
 Section 7.4. Right to Distrain. The Tenant waives and renounces the benefit of any present or future statute purporting to limit or qualify
the Landlord right to distrain and agrees with the Landlord that in any of the events set out in Section 7.2, the Landlord, in addition to the other rights reserved to it, shall have the right to enter the Leased Premises as agent of the Tenant
either by force or otherwise without being liable for any prosecution therefor and to take possession of any goods and chattels whatever on the Leased Premises, save and except any such goods and chattels which are owned by any occupiers of the
Leased Premises, other than the Tenant, and to sell the same at public or private sale without notice and apply the proceeds of such sale on account of the Rent or in satisfaction of the breach of any covenant, obligation or agreement of the Tenant
under this Lease and the Tenant shall remain liable for the deficiency, if any. Notwithstanding anything contained in Section 30 of The Landlord and Tenant Act R.S.O. 1970 or any successor legislation or other statute which may hereafter be
passed to take the place of the said Section or to amend the same, none of the goods and chattels of the Tenant at any time during the continuance or the Term shall be exempt from levy by distress for Rent and the Tenant hereby waives all and every
benefit that it could or might have under such Section. Upon any claim being made for such exemption by the Tenant, or on distress being made by the Landlord, this provision may be pleaded as an estoppel against the Tenant in any action brought to
test the right to the levying upon any such goods. 
 Section 7.5. Landlord May Follow Chattels. In case of removal by the Tenant
of the goods or chattels of the Tenant from the Leased Premises, the Landlord may follow the same for thirty (30) days in the same manner as is provided for in The Landlord and Tenant Act R.S.O., 1970, or any successor legislation or other
statute which may hereafter be passed to take the place of the said Act or to amend the same. 
  

 -22- 

 Section 7.6. Waiver of Repudiation of Lease. The Tenant waives and renounces the benefit of
Section 65.2 of the Bankruptcy and Insolvency Act or any successor legislation as such statute may be amended from time to time and the Tenant covenants and agrees that it will not repudiate this Lease pursuant to Section 65.2 of the
Bankruptcy and Insolvency Act. Upon any attempt to repudiate this Lease by the Tenant pursuant to Section 65.2 of the Bankruptcy and Insolvency Act, the Landlord shall be entitled to plead this covenant and agreement as an estoppel against the
Tenant repudiating this Lease. 
 ARTICLE VIII 
 CERTIFICATES, NOTICES, PAYMENTS & FINANCIAL INFORMATION 
 Section 8.1. Estoppel
Certificates. The Tenant at any time and from time to time upon not less than ten (10) days’ prior notice, at the request of the Landlord, shall execute and deliver as directed by the Landlord, a statement in writing certifying
that the Tenant is not insolvent as defined under the Bankruptcy and Insolvency Act (or if the Tenant is insolvent, providing details of same), that this Lease is unmodified and in full force and effect (or, if modified, stating the modifications
and that the same is in full force and effect as modified), the dates to which any amount provided in this Lease to be paid by the Tenant to the Landlord has been paid and stating whether or not there is any existing default under this Lease on the
part of the Landlord of which the Tenant has notice. 
 Section 8.2. Notices. Any notice, demand or request which any party shall
give to any party shall be in writing and shall be deemed to have been validly given if delivered at, or mailed by registered mail to the address of such party shown in this Lease or to such other address as such party shall have given written
notice, and shall be deemed to have been received at the time that it was so delivered or in the case of those given by registered mail, on the second banking day following the date of mailing. If two or more persons, firms or corporations are named
as Tenant, notice to any one shall be deemed to be notice to all. The address for notices to the Landlord shall be c/o Enterprise Property Group Limited, 480 University Avenue, Suite 200, Toronto, Ontario, M5G 1V2. The address for notices to the
Tenant shall be c/o the Leased Premises. 
 Section 8.3. Payments. Until such time as the Tenant shall have received written
notice to the contrary, all payments of Rent shall be paid to the Landlord at its address referred to in Section 8.2 and notwithstanding any transfer, or other disposition by the Landlord of the Leased Premises or of the Rent or any change of
the name and address of the payee of any Rent, the Tenant, until receipt of such notice, may continue to pay the Rent to the same payee to which and in the same manner in which the last preceding payment thereof was made and each such payment made
by the Tenant prior to the receipt by it of such notice shall, to the extent thereof, exonerate and discharge the Tenant of its liability to pay such Rent. 
 Section 8.4. Financial Information. Throughout the Term of this Lease, the Tenant shall keep and maintain, in an accessible location, at all times, full, true and accurate books of accounts and records
adequate to reflect correctly the operations of the Tenant with respect to the Leased Premises and hereby agrees that the Landlord, and its authorized representatives, will have access thereto during Normal Business Hours and the right to make
copies thereof and extracts therefrom. 
  

 -23- 

 
The Landlord is to be provided with full financial statements pertaining to the operation of the Tenant immediately upon request and in any event within one
hundred and twenty (120) days of the end of each fiscal year of the Tenant. The Tenant acknowledges that such financial statements are being provided to the Landlord so that it may determine whether or not the Tenant is insolvent within the
meaning of the Bankruptcy and Insolvency Act. 
 The Tenant agrees to provide to the Landlord prompt notice of any impending financial
difficulties which could lead to a secured creditor’s exercising, or providing notice of an intention to exercise, its remedies, including a notice under Section 244 of the Bankruptcy and Insolvency Act. 
 ARTICLE IX 
 GENERAL PROVISIONS

 Section 9.1. Failure of Landlord to Deliver Possession. Anything in this Lease to the contrary notwithstanding, and in
supplement to the provision of Section 9.2, the Landlord shall not be deemed to be in default under this Lease if the Landlord is unable to give possession of the Leased Premises on the Commencement Date by reason of the holding over or
retention of possession of any tenant or occupant or by reason of the fact that construction, repairs, improvements or decorations of the Leased Premises or of the Building or of the Rights in Common are not completed or for any other reason not due
to the negligent or wrongful act or default of the Landlord. No such failure to give possession of the Leased Premises on the Commencement Date shall in any way affect the validity of this Lease or the covenants, obligations and agreements of the
Tenant under this Lease (save as specifically provided for) or the terms or conditions of this Lease, nor shall the same be construed in any way to extend the Term. 
 Section 9.2. Force Majeure. Notwithstanding any other provision of this Lease, whenever, and to the extent that either party to this Lease shall be unable to fulfil, or shall be delayed or restricted in
the fulfilment of any obligation (other than the payment of any monies) under any provision of this Lease by reason of strike, lock-out, war or acts of military authority, rebellion or civil commotion, material or labour shortage not within the
control of such party, fire or explosion, flood, wind, water, earthquake or other casualty, any applicable lawful statute, by-law, ordinance, regulation or order, any event or matter not wholly or mainly within the control of such party, or act of
God, not caused by the default or act of, or omission by such party and not avoidable by the exercise of reasonable effort or foresight by it, then, so long as any such impediment exists, such party shall be relieved from the fulfilment of such
obligation and the other parry shall not be entitled to compensation for any damage, inconvenience, nuisance or discomfort thereby occasioned. 
 Section 9.3. Separate Assessments. If separate assessments are not made for the Leased Premises, Leasehold Improvements, Leasable Service Areas and Service Areas or any of them by the municipal or other governmental authorities
having jurisdiction so as to enable the Taxes and tax escalation payable by the Tenant pursuant to this Lease to be determined, the Landlord shall use reasonable efforts to obtain sufficient official information to determine what such separate
assessments would have been if they had been made, and failing that, the Landlord shall allocate to the Leased Premises the Tenant’s Proportionate Share of the total assessment of the Building plus the Rights in Common; provided that the
Landlord shall not be bound to allocate an assessment for the purposes of Section 4.2(a) and may from time to time waive payment of amounts which would 
  

 -24- 

 
otherwise be payable by the Tenant under Section 4.2(a) and by other tenants under similar provisions of other leases of premises in the Building
without prejudice to the right of the Landlord to make any such allocation in the future in such manner as not to create any substantial inequity amongst tenants of the Building. 
 Section 9.4. Time of the Essence. Time shall be of the essence of this Lease. Whenever in this the Lease any matter requires the approval of
either the Landlord or the Tenant such approval shall not be unreasonably withheld. 
 Section 9.5. Joint and Several
Liability. If two or more individuals, corporations, partnerships or other business associations, or any combination of two or more thereof, shall sign this Lease as Tenant, the liability of each such individual, corporation, partnership or
other business association to pay Rent and perform all other obligations under this Lease shall be deemed to be joint and several. If the Tenant named in this Lease is a partnership or other business association, the members of which by law are
subject to personal liability, the liability of each such member shall be deemed to be joint and several. 
 Section 9.6.
Amendments. This Lease may not be modified or amended except by instrument in writing signed by the Landlord and the Tenant. 
 Section 9.7. Waivers. No waiver by either party of any breach by the other party of any of its covenants, obligations and agreements under this Lease shall be a waiver of any subsequent breach or of any other covenant,
obligation or agreement, nor shall any forbearance to seek a remedy for any breach be a waiver of any rights and remedies with respect to such or any subsequent breach. 
 Section 9.8. Severabilty. If any covenant, obligation or agreement in this Lease or the application thereof to any person of circumstance shall to any extent, be invalid or unenforceable, the remainder of
this Lease or the application of such covenant obligation or agreement to persons or circumstances other than those as to which it is held invalid or unenforceable shall not be affected thereby and each covenant, obligation and agreement in this
Lease shall be separately valid and enforceable to the fullest extent permitted. 
 Section 9.9. Headings. The article headings
and section headings in this Lease have been inserted for convenience of reference only and do not form part of this Lease. Such headings shall not be referred to in the interpretation of this Lease. 
 Section 9.10. Changes Required by Context. This Lease shall be read with all changes of gender and number required by the context.

 Section 9.11. Planning Act. This Lease is entered into subject to the condition that it is to be effective only on obtaining
such consents, if any, as may be required under The Planning Act, R.S.O. 1970, or any successor legislation or other statute which may hereafter be passed to take the place of the said Act or to amend the same, and provided that such consents are
granted on conditions which are acceptable to the Landlord. 
 Section 9.12. Notice of Lease. This Lease shall not be registered
against the title to the Building. Each of the Landlord and the Tenant agrees that at the request of the other it will execute 
  

 -25- 

 
and deliver a notice of this Lease for registration against the title to the Building. No such notice of lease shall amend or alter, or shall be deemed to
have amended or altered, any of the covenants, obligations or agreements contained in this Lease. 
 Section 9.13. Whole
Agreement. This Lease contains the whole agreement between the parties with respect to the subject matter of this Lease. There is no representation, warranty, collateral agreement or condition affecting the Building, the Leased Premise, or
this Lease, or supported by this Lease other than as expressed in this Lease. The schedules and appendices to this Lease form part of this Lease. 
 Section 9.14. Applicable Law. This Lease shall be construed in accordance with the laws of the Province of Ontario. 
 Section 9.15. Assigns. This Lease shall enure to the benefit or and be binding upon the parties hereto and their respective heirs, administrators, executors and Landlord approved successors and assigns. 
 ARTICLE X 
 SPECIAL PROVISIONS

 Section 10.1. Option to Renew. If the Tenant has paid all rent when due and fulfilled all its obligations under this
Lease, then the Tenant may by notice in writing to the Landlord no less than Six (6) months and not more than Twelve (12) months prior to the expiration of the Term, extend the Term of this Lease for a further period of Five (5) years
(the “Renewal Term”) on the same terms and conditions as are contained in this Lease, except that there shall be no further extension or renewal option, landlord’s work, rent abatement, or tenant allowance and the annual Base Rent
payable during the Renewal term shall be mutually agreed upon between the Landlord and the Tenant, not less than Ninety (90) days prior to the expiration of the Term, based on the then fair market rates for similar premises in the immediate
vicinity. 
 Section 10.2. Tenant’s Right to Terminate. Provided the
Tenant is Cogency Technology Incorporated and is not in default under the terms and conditions of this Lease, the Tenant shall have the right to terminate this Lease at any time after the 30th day of April 2001, upon delivery of written notice to the Landlord not less than six (6) months prior to the effective date of termination, under
the following terms and conditions: 
 (a) on the effective date of termination, the Tenant shall vacate the Leased Premises,
leaving same in such condition and repair as required by the provisions of this Lease, and appropriate adjustments with respect to Base Rent, Additional Rent, and all other charges relating to the Leased Premises, shall be made between the Landlord
and the Tenant to the effective date of termination. To the extent that any such adjustments cannot be calculated as of the effective date of termination, the Tenant shall remain liable to pay any amount required by such adjustments following the
effective date of termination; 
 (b) the Tenant shall pay to the Landlord, concurrent with the submission of its written
notice to the Landlord, surrender fee equal to the value of the work provided by the Landlord 

  

 -26- 

 
in the Leased Premises as described in Section 2.3 hereof depreciated on a straight line basis to zero over the original Term of the Lease as of the
effective date of termination; and 
 (c) if requested by the Landlord, the Tenant shall fully surrender the Lease with
respect to the Leased Premises on the effective date of termination by execution of a formal document of surrender prepared by the Landlord. 
 Notwithstanding the foregoing, it is understood and agreed that in the event the Tenant fails to exercise its right to terminate this Lease in the manner hereinbefore specified, then this right to terminate shall be null and void and of no
further force or effect whatsoever. 
  

 -27- 

 IN WITNESS WHEREOF, the Landlord and the Tenant have signed and sealed this Lease.

 SIGNED, SEALED AND DELIVERED in the presence of: 
  

			
	LEAD SKY ENTERPRISES LIMITED
	
	(Landlord)
		
	 Per:
	 	 /s/ 

	 Per:
	 	  
	
	COGENCY TECHNOLOGY INCORPORATED
	
	(Tenant)
		
	 Per:
	 	 /s/ 

		 	 Name: 

		 	 Title: VP Business Development

	
	I HAVE THE AUTHORITY TO BIND THE COMPANY
		
	 Per:
	 	 /s/ Warren Lien

		 	 Name: Warren Lien

		 	 Title: President

	
	I HAVE THE AUTHORITY TO BIND THE COMPANY

  

 -28- 

 SCHEDULE “A” 
 FLOOR PLAN 
 

 

 LEAD SKY ENTERPRISES LIMITED 
 LANDLORD 
 - and - 
 COGENCY TECHNOLOGY INCORPORATED 
 TENANT 
  

 AGREEMENT AMENDING LEASE –
ADDITIONAL PREMISES 
  

  

			
	 BUILDING:
	  	144-146 Front Street West, Toronto, Ontario
		
	 LEASED PREMISES:
	  	Approximately 4,730 square feet – 5th Floor
		  	Approximately 1,552 square feet – 5th Floor – Additional Premises “A”
		
	 DATED:
	  	May 1, 2000

 AGREEMENT made this 1st day of May, 2000. 
 BETWEEN: 
 LEAD SKY ENTERPRISES LIMITED, 
 hereinafter referred to as the “Landlord”, 
 OF THE FIRST PART 
 - and -

 COGENCY TECHNOLOGY INCORPORATED, 
 hereinafter referred to as the “Tenant”, 
 OF THE SECOND PART. 
 WHEREAS the parties hereto entered into an indenture of lease dated the 17th day of
March, 1998 (hereinafter referred to as the “Lease”) pursuant to which the Landlord did demise and lease unto the Tenant certain premises consisting of approximately Four Thousand, Seven Hundred and Thirty (4,730) square feet on the
5th floor (hereinafter referred to as the “Leased Premises”) in the building known as 144-146 Front Street West, Toronto, Ontario (the “Building”) as therein described; 
 AND WHEREAS the parties hereto desire to amend the Lease in order to: (i) re-state Section 3.1 of the Lease with effect from and after
May 1, 1997; and (ii) include therein additional premises consisting of approximately One Thousand, Five Hundred and Fifty-Two (1,552) square feet on the 5th floor (hereinafter referred to as “Additional Premises
‘A’”) with effect from and after the 1st day of May, 2000; 
 NOW THEREFORE THIS AGREEMENT WITNESSETH: 
 1. That with effect from after May 1, 1997, Section 3.1 of the Lease is deleted and the following substituted therefor: 
 “From and after the Commencement Date, the Tenant shall pay to the Landlord in lawful money of Canada, without any deduction, abatement or setoff
whatsoever, an annual Base Rent for the Leased Premises of TWENTY-EIGHT THOUSAND, THREE HUNDRED AND EIGHTY DOLLARS ($28,380.00), being SIX DOLLARS ($6.00) per square foot of the gross leasable area of the Leased Premises being Four Thousand, Seven
Hundred and Thirty (4,730) square feet, payable in equal consecutive monthly installments of TWO THOUSAND, THREE HUNDRED AND SIXTY-FIVE DOLLARS ($2,365.00) on the first day of each and every month throughout the Term.” 

 2. THAT WITH EFFECT FROM AND AFTER the 1st day of May, 2000, the Lease is amended as follows: 

(a) “Additional Leased Premises “A” shall mean that portion of the Fifth (5th) Floor of the Building containing an
area of approximately One Thousand, Five Hundred and Fifty-Two (1,552) square feet, outlined in red on Schedule “A” and being Suite #520. 
 (b) The definition of the “Leased Premises” in Section 1.1(h) is amended by adding the following, on the fourth line after
the word, “Floor”: 
 “(hereinafter sometimes referred to as the “Original Leased Premises”), and from and after
May 1, 2000, shall include the Additional Leased Premises “A””. 
 (c) Section 2.2 is amended by
adding the following paragraph thereto: 
 “TO HAVE AND TO HOLD the Additional Leased Premises “A” for and during the period
of three (3) years beginning on the 1st day of May, 2000 (the “Commencement Date for Additional Leased Premises “A””) and from henceforth ensuing and fully to be completed and ended on the 30th day of April, 2003 (the
“Term for Additional Leased Premises “A”).” 
 (d) Section 2.3 is amended by adding the following
paragraph thereto: 
 “The Tenant accepts the Additional Leased Premises “A” in an as-is condition. Tenant shall be
responsible, at its own expense, for any modifications or renovations within the Additional Leased Premises “A”, subject to the prior approval of Landlord and the general procedures set out in the Lease. Landlord shall, at its expense:
(i) paint the walls, doors and frames with a colour chosen by Tenant from Landlord’s samples; and (ii) provide new carpeting in a colour chosen by Tenant from Landlord’s samples. 
 (e) Section 3.1 is amended by adding the following as the last paragraph thereof: 
 “From and after the Commencement Date for Additional Leased Premises “A”, the Tenant shall pay to the Landlord in lawful money of Canada,
without any deduction, abatement or setoff whatsoever, an annual Base Rent for Additional Leased Premises “A” of TWENTY THOUSAND, ONE HUNDRED AND SEVENTY-SIX DOLLARS ($20,176.00), being THIRTEEN DOLLARS ($13.00) per square foot of the
gross leasable area of the Additional Leased Premises “A” being One Thousand, Five Hundred and Fifty-Two (1,552) square feet, payable in equal consecutive monthly installments of ONE THOUSAND, SIX HUNDRED AND EIGHTY-ONE DOLLARS AND
THIRTY-THREE CENTS ($1,681.33) on the first day of each and every month during the Term for Additional Leased Premises “A”.” 
  

 -2- 

 (f) Section 3.1.1 is amended by adding the following thereto 
 “The Landlord acknowledges receipt of THREE THOUSAND, THREE HUNDRED AND FIFTY-SEVEN DOLLARS AND TWENTY-SIX CENTS ($3,357.26) to be held and applied
to the last month’s rent.” 
 (g) by indicating that the last paragraph of Section 3.2 pertains to the Original
Leased Premises and adding the following as the last paragraph thereto: 
 “The Landlord estimates the Tenant’s Additional Rent as
set out in subsections (a) and (b) of this section and the cost of hydro consumption in the Additional Leased Premises “A” for the 2000 calendar year to be approximately ELEVEN DOLLARS AND TWENTY-SIX CENTS ($11.26) per square
foot of gross leasable area, which estimate is subject to escalations.” 
 (h) by deleting the Landlord’s address in
Section 8.2 and substituting therefor the following: 
 “c/o O&Y Enterprise Commercial Management 
 a division of O&Y Properties Inc. 
 18 King Street East 
 Suite 1500 
 Toronto, Ontario 
 M5C 1C4 
 Attention: Leasing Legal Services” 
 (i) by substituting Schedule “A” attached hereto for Schedule “A” attached to the Lease. 
  

 -3- 

 2. SAVE as aforesaid all the terms and conditions of the Lease remain unchanged. 
 IN WITNESS WHEREOF the parties hereto have hereunto caused to be affixed their corporate seals under the hands of their proper officers duly authorized
in that behalf. 
 Executed by Landlord this 6th day of June, 2000. 
  

			
	 LEAD SKY ENTERPRISES LIMITED

		
	 Per:
	 	 /s/ Razali Embong

	 Per:
	 	  
	
	 I/We have the authority to bind the corporation

 Executed by Tenant this 19th day of May, 2000. 
  

			
	 COGENCY TECHNOLOGY INCORPORATED

		
	 Per:
	 	 /s/

	 Per:
	 	 /s/

		 	Tenant
	
	 I/We have the authority to bind the corporation

  

 -4- 

 SCHEDULE “A” 
 FLOOR PLAN 
 

 
  

 -5- 

 LEAD SKY ENTERPRISES LIMITED 
 LANDLORD 
 - and - 
 COGENCY SEMICONDUCTOR INC. 
 TENANT 
  

 AGREEMENT AMENDING LEASE –
ADDITIONAL PREMISES 
  

  

			
	 BUILDING:
	  	144-146 Front Street West, Toronto, Ontario
		
	 LEASED PREMISES:
	  	Approximately 4,730 square feet – 5th Floor
		  	Approximately 1,552 square feet – 5th Floor – Additional Premises “A”
		  	Approximately 4,693 square feet – 6th Floor – Additional Premises “B”
		
	DATED:	  	 November 28, 2000

 AGREEMENT made this 28th day of November, 2000. 
 BETWEEN: 
 LEAD SKY ENTERPRISES LIMITED, 
 hereinafter referred to as the “Landlord”, 
 OF THE FIRST PART 
 - and -

 COGENCY SEMICONDUCTOR INC. 
 hereinafter referred to as the “Tenant”, 
 OF THE SECOND PART. 
 WHEREAS the parties hereto entered into an indenture of lease dated the 17th day of March, 1998 (hereinafter referred to as the “lease”)
pursuant to which the Landlord did demise and lease unto Cogency Technology Incorporated, as tenant certain premises consisting of four thousand, seven hundred and thirty (4,730) square feet on the 5th Floor (hereinafter referred to as the
“Original Leased Premises”) in the building known as 144-146 Front Street West (the “Building”) in the City of Toronto as therein described; 
 AND WHEREAS by an agreement amending lease dated May 1, 2000, the lease was amended to expand the Original Leased Premises effective May 1, 1997 to include Suite 520, having a certified gross leasable area
of One Thousand, Five Hundred and Fifty-Two (1,552) square feet (the “Additional Premises “A””); 
 AND WHEREAS by
Articles of Amendment dated January 5, 1999, Cogency Technology Inc. changed its name to Cogency Semiconductor Inc. (the “Tenant”); 
 AND WHEREAS the lease and the agreement amending lease dated May 1, 2000 shall hereinafter collectively be referred to as the “Lease” and the Original Leased Premises and Additional Premises “A” shall hereinafter
collectively be referred to as the “Leased Premises”; 
 AND WHEREAS the parties hereto desire to amend the Lease in order to
include therein additional premises consisting of Four Thousand, Six Hundred and Ninety-Three (4,693) square feet on the 6th Floor, being Suite 600 (hereinafter referred to as “Additional Premises “B””) with effect from and
after the 1st day of March, 2001; 
  

 -1- 

 NOW THEREFORE THIS AGREEMENT WITNESSETH: 
 1. THAT WITH EFFECT FROM AND AFTER the 1st day of March, 2001, the Lease is amended as follows: 
 (a) The definition of the “Leased Premises” in Section 1.1(h) is deleted and the following substituted therefor:

 ““Leased Premises” means the premises comprising a leasable area of approximately Four Thousand, Two Hundred and Nine
(4,209) square feet, and a gross leasable area of approximately four Thousand, Seven Hundred and Thirty (4,730) square feet, outlined in red on Schedule “A” located in the Building and being Suite #580, part of the Fifth
Floor (hereinafter sometimes referred to as the “Original Leased Premises”); from and after May 1 2000 up to February 28, 2001, “Leased Premises” shall mean the Original Leased Premises plus that portion of the Fifth
(5th) Floor of the Building containing a gross leasable area of approximately One Thousand, Five Hundred and Fifty-Two (1,552) square feet, outlined in red on Schedule “A” and being Suite #520 (the “Additional Leased
Premises “A””); and from and after March 1, 2001, “Leased Premises” shall mean the Original Leased Premises, the Additional Leased Premises “A” and that portion of the Sixth (6th) Floor of the Building
containing a gross leasable area of approximately Four Thousand, Six Hundred and Ninety-Three (4,693) square feet, outlined in red on Schedule “A-l” and being Suite No. 600 (the “Additional Leased Premises
“B””), and includes all Leasehold Improvements and all water, gas, sewage, telephone and other communication facilities comprised therein for the exclusive use thereof, reserving unto the Landlord the right to make reasonable
variations in the area, form and siting of the Leased Premises and the right to relocate on comparable floor or floors prior to the commencement date with the consent of the Tenant, such consent no to be unreasonably withheld.” 
 (b) Section 2.2 is amended by adding the following paragraph thereto: 
 “TO HAVE AND TO HOLD the Additional Leased Premises “B” for and during the period of five (5) years beginning on the 1st day of
March, 2001 (the “Commencement Date for Additional Premises “B”“) and from henceforth ensuing and fully to be completed and ended on the 28th day of February, 2006 (the “Term for Additional Leased Premises
“B””)”. 
 (c) Section 2.3 is amended by adding the following paragraph thereto: 
 “The Tenant accepts the Additional Leased Premises “B” in “as is” condition. Tenant shall be responsible at its own expense for
any modifications or renovations within the Additional Leased Premises “B”, subject to the prior approval of Landlord and the general procedures outlined in this Lease.” 
 (d) Section 3.1 is amended by adding the following as the last paragraph thereof: 
 “From and after the Commencement Date for Additional Leased Premises “B”, the Tenant shall pay to the Landlord in lawful money of Canada,
without any deduction, abatement or setoff whatsoever, an annual Base Rent for Additional Leased Premises “B” of SEVENTY-FIVE THOUSAND, EIGHTY-EIGHT DOLLARS ($75,088.00), being SIXTEEN DOLLARS ($16.00) per square foot of the gross leasable
area of the Additional Leased Premises “B” being Four Thousand, Six Hundred and Ninety-Three square feet, payable in equal consecutive monthly Installments of SIX THOUSAND, TWO HUNDRED AND FIFTY-SEVEN DOLLARS AND THIRTY-THREE CENTS
($6,257.33) on the first day of each and every month during the Term for Additional Leased Premises “B”.” 
  

 -2- 

 (e) Section 3.1.1 is amended by adding the following thereto: 
 “The Landlord acknowledges receipt of TWELVE THOUSAND, NINE DOLLARS AND SEVENTY-EIGHT CENTS ($12,009.78) to be held and applied to the last
month’s rent.” 
 (f) by indicating that the last paragraph of Section 3.2 pertains to the Additional Leased
Premises “A” and adding the following as the last paragraph thereto: 
 “The Landlord estimates the Tenant’s Additional
rent as set out in subsections (a) and (b) of this section and the cost of hydro consumption in the Additional Leased Premises “B” for the 2001 calendar year to be approximately TWELVE DOLLARS AND SEVENTY CENTS ($12.70) per
square foot of gross leasable area, which estimate is subject to escalations.” 
 (g) by annexing
Schedule “A-l” to the Lease; 
 2. SAVE as aforesaid all the terms and conditions of the Lease remain unchanged. 

IN WITNESS WHEREOF the parties hereto have hereunto caused to be affixed their corporate seals under the hands of their proper officers duly
authorized in that behalf. 
 Executed by Landlord this 19th day of January, 2001. 
  

			
	 LEAD SKY ENTERPRISES LIMITED

		
	 Per:
	 	 /s/ Razali Embong

	 Per:
	 	  
	
	 I/We have the authority to bind the corporation

 Executed by Tenant this 15th day of January, 2001. 
  

			
	COGENCY SEMICONDUCTOR INCORPORATED
		
	 Per:
	 	 /s/

	 Per:
	 	 /s/

		 	Tenant
	
	 I/We have the authority to bind the corporation

  

 -3- 

 SCHEDULE “A-1” 
  

 -4- 

 LEAD SKY ENTERPRISES LIMITED 
 LANDLORD 
 - and - 
 COGENCY SEMICONDUCTOR INC. 
 TENANT 
  

 AGREEMENT AMENDING LEASE –
ADDITIONAL PREMISES 
  

  

			
	 BUILDING:
	  	144-146 Front Street West, Toronto, Ontario
		
	 LEASED PREMISES:
	  	Approximately 4,730 square feet – 5th Floor
		  	Approximately 1,552 square feet – 5th Floor – Additional Leased Premises “A”
		  	Approximately 4,693 square feet – 6th Floor – Additional Leased Premises “B”
		  	Approximately 3,641 square feet – 7th Floor – Additional Leased Premises “C”
		
	 DATED:
	  	October 19, 2001

 AGREEMENT made this 19th day of October, 2001. 
 BETWEEN: 
 LEAD SKY ENTERPRISES LIMITED, 
 hereinafter referred to as the “Landlord”, 
 OF THE FIRST PART 
 - and -

 COGENCY SEMICONDUCTOR INC. 
 hereinafter referred to as the “Tenant”, 
 OF THE SECOND PART 
 WHEREAS the parties hereto entered into an indenture of lease dated the 17th day of March, 1998 (hereinafter referred to as the “lease”)
pursuant to which the Landlord did demise and lease unto Cogency Technology Incorporated, as tenant certain premises consisting of four thousand, seven hundred and thirty (4,730) square feet on the 5th Floor (hereinafter referred to as the
“Original Leased Premises”) in the building known as 144-146 Front Street West (the “Building”) in the City of Toronto as therein described expiring April 30, 2003; 
 AND WHEREAS by an agreement amending lease dated May 1, 2000, the lease was amended to expand the Original Leased Premises effective May 1,
1998 to include Suite 520, having a certified gross leasable area of One Thousand, Five Hundred and Fifty-Two (1,552) square feet (the “Additional Premises “A”) expiring April 30, 2003; 
 AND WHEREAS by Articles of Amendment dated January 5, 1999, Cogency Technology Inc. changed its name to Cogency Semiconductor Inc. (the
“Tenant”); 
 AND WHEREAS by an agreement dated November 28, 2000, the lease was amended in order to expand the Original
Premises effective March 1, 2001 to include Suite 600 having a certified gross leasable area of Four Thousand, Six Hundred and Ninety-Three (4,693) square feet on the 6th Floor (hereinafter referred to as “Additional Premises
“B”) expiring February 28, 2006; 
 AND WHEREAS the lease and the agreements amending lease dated May 1, 2000 and
November 28, 2000 shall hereinafter collectively be referred to as the “Lease” and the Original Leased Premises, Additional Premises “A” and Additional Premises “B” shall hereinafter collectively be referred to as
the “Leased Premises”; 
 AND WHEREAS the parties hereto desire to amend the Lease in order to include therein additional premises
consisting of three thousand, six hundred and forty-one (3,641) square feet on the 7th floor being Suite 750 (hereinafter referred to as “Additional Premises “C”) with effect from and after October 15, 2001 and expiring
February 28, 2006; 

 THEREFORE, in consideration of the mutual covenants and agreements between the parties and the sum of
$1.00 that has been paid by each of the parties to the other(s), the receipt and sufficiency of which are acknowledged, THE PARTIES AGREE AS FOLLOWS: 
 1. The foregoing recitals are true. 
 2. As of October 15, 2001, the Lease is amended as follows:

 (a) The definition of Leased Premises is amended to include Additional Premises “C” outlined in red on Schedule
“A-2” attached hereto for a total gross leasable area of fourteen thousand, six hundred and sixteen (14,616) square feet (collectively, the “Leased Premises”); 
 (b) The Tenant accepts the Additional Leased Premises “C” in an “as is” condition; 
 (c) the Landlord has no responsibility or liability for making any renovations, alterations or improvements in or to the Additional
Premises “C”; 
 (d) all renovations, alterations or improvements in or to Additional Premises “C” are the
sole responsibility of the Tenant and shall be undertaken and completed at the Tenant’s expense and strictly in accordance with the provisions of the Lease; 
 (e) any fixturing period, or requirement on the Landlord’s part, set out in the Lease to pay to the Tenant any construction
allowance, inducement, loan or other amount in connection with the Lease or improvements installed in the Original Leased Premises, shall not apply to Additional Premises “C”; 
 (f) the Base Rent for the Original Leased Premises, Additional Premises “A” and Additional Premises “B” shall be as
set out in the Lease; 
 (g) the Base Rent for Additional Premises “C” shall be as follows: 
 “During the period commencing October 15, 2001 until February 28, 2006, the Tenant shall pay to the Landlord in lawful money of Canada,
without any deduction, abatement or setoff whatsoever, an annual Base Rent for Additional Premises “C” of FIFTY THOUSAND, NINE HUNDRED AND SEVENTY-FOUR DOLLARS ($50,974.00), being FOURTEEN DOLLARS ($14.00) per square foot of the gross
leasable area of the Additional Premises “C” being three thousand, six hundred and forty-one (3,641) square feet, payable in equal consecutive monthly installments of FOUR THOUSAND, TWO HUNDRED AND FORTY-SEVEN DOLLARS AND EIGHTY-THREE
CENTS ($4,247.83) on the first day of each and every month during the Term for Additional Premises “C.” 
 (h)
Section 3.1.1 “Advance Rent” is amended by adding the following thereto: 
 “The Landlord acknowledges receipt of EIGHT
THOUSAND, SIX HUNDRED AND SIXTY-EIGHT DOLLARS AND THIRTY-ONE CENTS ($8,668.31) to be held and applied to the last month’s payment of Base Rent and Additional Rent, including applicable GST becoming due under the Lease with respect lo Additional
Premises “C.” 
  

 -2- 

 (i) The Landlord’s estimate of Tenant’s Proportionate Share of Operating Costs,
Taxes and hydro payable by the Tenant for the calendar year 2001 is TWELVE DOLLARS AND SEVENTY CENTS ($12.70) per square foot of gross leaseable area of the Leased Premises, which estimates are subject to escalations. 
 (j) Section 10.2 “Tenant’s Right to Terminate” shall not be applicable to Additional Premises “A”,
Additional Premises “B” and Additional Premises “C”. 
 (k) by annexing Schedule A-2” to the
Lease; 
 3. The Tenant represents and warrants that it has the right, full power and authority to agree to amend the Lease as provided in
this Agreement. 
 4. The parties confirm that the Lease is in full force and effect, as modified by this Agreement. All terms and
expressions when used in this Agreement have the same meaning as they have in the Lease, unless contrary intention is expressed in this Agreement 
 5. The Tenant acknowledges and agrees that it is in possession of the Leased Premises, that there are no uncured defaults by the Landlord and that the Landlord has performed all of its obligations as set out in the Lease. 
 6. This Agreement shall enure to the benefit of and be binding upon the parties hereto and their respective heirs, executors, administrators, permitted
successors and permitted assigns, as the case may be. 
  

 -3- 

 IN WITNESS WHEREOF the parties hereto have hereunto caused to be affixed their corporate seals under the
hands of their proper officers duly authorized in that behalf. 
 Executed by Landlord this 8 day of November, 2001

  

			
	 LEAD SKY ENTERPRISES LIMITED

		
	 Per:
	 	 /s/ Razali Embong

	 Per:
	 	  
	
	 I/We have the authority to bind the corporation

 Executed by Tenant this 1 day of November, 2001. 
  

			
	 COGENCY SEMICONDUCTOR INC.

		
	 Per:
	 	 /s/

	 Per:
	 	  
		 	Tenant
	
	 I/We have the authority to bind the corporation

  

 -4- 

 SCHEDULE “A-2” 
 

 

 LEASE AMENDING AGREEMENT 
 REDUCTION OF TERM 
 THIS AGREEMENT made October 19,
2001 
 BETWEEN: 
 LEAD SKY ENTERPRISES LIMITED  
 (hereinafter called the “Landlord”)

 OF THE FIRST PART 
 -and- 
 COGENCY SEMICONDUCTOR INC.  
 (hereinafter called the “Tenant”) 
 OF THE SECOND PART 
 A. WHEREAS the parties
hereto entered into an indenture of lease dated the 17th day of March, 1998 (hereinafter referred to as the
“Lease”) pursuant to which the Landlord did demise and lease unto Cogency Technology Incorporated, as tenant certain premises consisting of Four Thousand, Seven Hundred and Thirty (4,730) square feet on the 5th Floor, being Suite 580 (hereinafter referred to as the “Original Leased Premises”) in the building known as 144-146
Front Street West (the “Building”) in the City of Toronto as therein described; 
 B. AND WHEREAS by an agreement amending
lease dated May 1, 2000, the lease was amended to expand the Original Leased Premises effective May 1, 1998 to include Suite 520, having a certified gross leasable area of One Thousand, Five Hundred and Fifty-Two (l,552) square feet (the
“Additional Premises “A”); 
 C. AND WHEREAS by Articles of Amendment dated January 5, 1999, Cogency Technology
Inc. changed its name to Cogency Semiconductor Inc. (the “Tenant”); 
 D. AND WHEREAS by an agreement amending lease dated
November 28, 2000, the lease was amended to expand the Original Leased Premises and Additional Premises “A” effective March 1, 2001 to include Suite 600, having a certified gross leasable area of Four Thousand, Six Hundred and
Ninety-Three (4,693) square feet (the “Additional Premises “B”); 
 E. AND WHEREAS by an Offer to Lease dated
September 14, 2001, the lease was amended to expand the Original Leased Premises and Additional Premises “A” and “B” effective October 15, 2001 to include Suite 750, having a certified gross leasable area of Three
Thousand, Six Hundred and Forty-One (3,641) square feet (the “Additional Premises “C”); 

 F. AND WHEREAS the lease and the agreement amending leases dated May 1, 2000,
November 28, 2000, and March 1, 2001, shall hereinafter collectively be referred to as the “Lease”, and the Original Leased Premises and Additional Premises “A”, “B”, and “C” shall hereinafter
collectively be referred to as the “Leased Premises”; 
 G. The parties have
agreed to amend the Lease in order to surrender on or before the 31st of October 2001 (the “Effective
Date”), Suite 520, comprising a gross leasable area of approximately 1,552 square feet, the Additional Premises “A” as shown outlined in green on Schedule “A” hereto attached (the Premises). 
 NOW THEREFORE THE PARTIES AGREE AS FOLLOWS: 
 1. The consideration for this Agreement is the mutual covenants and agreements between the parties and the sum of $10.00 that has been paid by each of the parties to the other, the receipt and sufficiency of which is
acknowledged. 
 2. The Lease is amended by reducing the term of the Additional Premises “A”, known as Suite 520, so
that it will expire on the Effective Date. It is understood and agreed that any agreement Tenant may have for parking or storage at the Building shall also expire on the Effective Date. Tenant agrees that it shall surrender and deliver possession of
the Premises to Landlord on the Effective Date, in accordance with the terms of the Lease and this Agreement. 
 3. With
respect to the Premises, the respective rights and obligations of Landlord and Tenant under the Lease shall be preserved and shall survive the Effective Date, as to all matters arising or accruing on or prior to the Effective Date, but no such
rights or obligations will arise or accrue to either of them after the Effective Date. 
 4. It is understood and agreed that
in accordance with the terms of the Lease, Landlord has received only an estimated amount on account of Additional Rent payable pursuant to the Lease up to and including the Effective Date and Tenant shall pay to Landlord, or Landlord shall repay to
Tenant, within 10 days of notice of Landlord’s determination of same, the amount by which the actual Additional Rent payable pursuant to the Lease, as calculated by Landlord, exceeds, or is exceeded by, as the case may be, the estimated
Additional Rent received by Landlord as of the Effective Date. 
 5. Notwithstanding the expiration of the Term, Tenant agrees
that Landlord shall have the right to commence an action or other proceeding if the Tenant, after notification from Landlord, shall fail to pay any outstanding amounts due and owing to Landlord or third parties pursuant to the Lease, or to Landlord
in accordance with Paragraph 4 hereof. 
 6. Tenant agrees that, as of the date of this Agreement, it has no claims against
Landlord in respect of any default or obligation of Landlord pursuant to the terms of the Lease or otherwise, save for Landlord’s obligations under Paragraph 4 above to readjust in respect of Additional Rent. 
  

 -2- 

 7. Upon the Effective Date the Tenant shall at its expense vacate the Premises and
deliver possession of Premises to Landlord in accordance with the Lease. Tenant’s obligation to observe and perform this covenant shall survive the Effective Date. 
 8. Tenant agrees that if Tenant fails to deliver possession of the Premises to Landlord in the manner prescribed pursuant to this
Agreement, then Tenant shall indemnify and hold harmless Landlord from any and all claims, costs, losses and damages (including lost rent) whatsoever incurred as a result thereof and if legal action is brought for the recovery of possession of the
Premises, Tenant shall pay to Landlord, forthwith upon demand, any and all costs and expenses (including legal fees on a solicitor and client basis) incurred on account thereof, together with all damages which Landlord may incur as a result thereof.

 9. The parties agree that the surrender of the premises shall be conditional upon the unconditional signing of the Offer to
Lease dated October 11, 2001 for Suite 560 in the building. 
 10. Landlord requires a period of 5 days from execution of
this Agreement by Landlord (the “Approval Period”), to obtain an unconditional agreement, in a form satisfactory to Landlord in its sole discretion, to lease the Premises. If the Landlord does not notify Tenant in writing within the
Approval Period that Landlord has waived this requirement, this Agreement shall automatically be null and void, neither party shall have any rights or obligations towards the other arising herefrom and the Lease shall remain in full force and
effect. 
 11. In consideration of the mutual covenants herein contained, Landlord and Tenant on behalf of themselves, their
officers, directors, agents, employees, successors and assigns, do hereby fully and finally remise, release and forever discharge each other from all manners of action, causes of action, claims, proceedings, damages, suits, debts, duties, accounts,
indemnities, and demands whatsoever which Landlord or Tenant ever had or now has by reason of any cause or matter whatsoever with respect to Landlord’s and Tenant’s obligations under the Lease, from and after the Effective Date, save and
except for Tenant’s obligations to Landlord under Paragraphs 4 and 7 above. 
 12. Tenant shall, at its expense, promptly
execute such further documentation with respect to the Premises and the Lease to give effect to this Agreement as Landlord reasonably requires from time to time. 
 13. On or before the Effective Date, Tenant shall, at its expense remove from the title to the lands comprising the Building, any short
form or notice of lease registered on the title thereto by or on behalf of Tenant in respect of the Lease or Tenant’s interest in the Lease or the Premises. Tenant shall indemnify Landlord in respect of any loss, cost or expense incurred by
Landlord as a result of Tenant’s failure to remove any such short form or notice of lease. 
 14. The parties confirm
that the terms, covenants and conditions of the Lease remain unchanged and in full force and effect, except as modified by this Agreement. It is understood and agreed that all terms capitalized words and expressions when used in this Agreement,
unless a contrary intention is expressed herein, have the same meaning as they have in the Lease. 
  

 -3- 

 15. Tenant represents and warrants that it has the right, full power and authority to
agree to the amendments to the Lease and other provisions contained in this Agreement, and that, as of the Effective Date, Tenant shall not have executed any other instruments, deeds or other documents pursuant to which the Lease and the unexpired
portion of the Term, including any renewals thereof, shall in any way be charged, encumbered, assigned, or otherwise transferred. 
 16. This Agreement shall enure to the benefit of and be binding upon the parties hereto and their respective heirs, executors, administrators, successors and assigns, as the case may be. 
 IN WITNESS WHEREOF the parties have duly executed this Agreement as of the date first written above. 
  

			
	 LANDLORD:

	
	LEAD SKY ENTERPRISES LIMITED
		
	 Per:
	 	 /s/ Razali Embong

	 Per:
	 	  
	
	 I/We have the authority to bind the corporation

	
	 TENANT:

	
	COGENCY SEMICONDUCTOR INC.
		
	 Per:
	 	 /s/

	 Per:
	 	  
	
	 I/We have the authority to bind the corporation

  

 -4- 

 SCHEDULE “A” 
 

 
  

 -5- 

 LEAD SKY ENTERPRISES LIMITED 
 LANDLORD 
 - and - 
 COGENCY SEMICONDUCTOR INC. 
 TENANT 
  

 AGREEMENT AMENDING LEASE –
ADDITIONAL PREMISES 
  

  

			
	BUILDING:	  	144-146 Front Street West, Toronto, Ontario
		
	LEASED PREMISES:	  	Approximately 4,730 square feet – 5th Floor – Original Leased Premises
		  	Approximately 1,552 square feet – 5th Floor – Additional Leased Premises “A”
		  	Approximately 4,693 square feet – 6th Floor – Additional Leased Premises “B”
		  	Approximately 3,641 square feet – 7th Floor – Additional Leased Premises “C”
		  	Approximately 2,085 square feet – 5th Floor – Additional Leased Premises “D”
		
	DATED:	  	November 15, 2001

 AGREEMENT made this 15th day of November, 2001. 
 BETWEEN: 
 LEAD SKY ENTERPRISES LIMITED, 
 hereinafter referred to as the “Landlord”, 
 OF THE FIRST PART 
 - and -

 COGENCY SEMICONDUCTOR INC. 
 hereinafter referred to as the “Tenant”, 
 OF THE SECOND PART. 
 WHEREAS the parties hereto entered into an indenture of lease dated the 17th day of March, 1998 (hereinafter referred to as the “lease”)
pursuant to which the Landlord did demise and lease unto Cogency Technology Incorporated, as tenant certain premises consisting of four thousand, seven hundred and thirty (4,730) square feet on the 5th Floor (hereinafter referred to as the
“Original Leased Premises”) in the building known as 144-146 Front Street West (the “Building”) in the City of Toronto as therein described expiring April 30, 2003; 
 AND WHEREAS by an agreement amending lease dated May 1, 2000, the lease was amended to expand the Original Leased Premises effective May 1,
1998 to include Suite 520, having a certified gross leasable area of One Thousand, Five Hundred and Fifty-Two (1,552) square feet (the “Additional Leased Premises “A”) expiring April 30, 2003; 
 AND WHEREAS by Articles of Amendment dated January 5, 1999, Cogency Technology Inc. changed its name to Cogency Semiconductor Inc. (the
Tenant”); 
 AND WHEREAS by an agreement dated November 28, 2000, the lease was amended in order to expand the Original Premises
effective March 1, 2001 to include Suite 600 having a certified gross leasable area of Four Thousand, Six Hundred and Ninety-Three (4,693) square feet, on the 6th Floor (hereinafter referred to as “Additional Leased Premises
“B”)” expiring February 28, 2006; 
 AND WHEREAS by an agreement dated October 19, 2001, the lease was amended in
order to include therein additional premises consisting of three thousand, six hundred and forty-one (3,641) square feet on the 7th floor being Suite 750 (hereinafter referred to as “Additional Leased Premises “C”) with
effect from and after October 15, 2001 and expiring February 28, 2006; 
 AND WHEREAS by an agreement dated October 19, 2001,
the lease was amended in order to surrender Additional Leased Premises “A”, being Suite 520, comprising a gross leasable area of approximately one thousand, five hundred and fifty-two (1,552) square feet on or before
October 31, 2001; 
  

 -1- 

 AND WHEREAS the lease and the agreements amending lease dated May 1, 2000, November 28, 2000,
October 19, 2001 shall hereinafter collectively be referred to as the “Lease” and the Original Leased Premises, Additional Leased Premises “B” and Additional Leased Premises “C” shall hereinafter collectively be
referred to as the “Leased Premises”; 
 AND WHEREAS the parties hereto desire to amend the Lease in order to include therein
additional premises consisting of two thousand and eighty-five (2,085) square feet on the 5th floor being Suite 560 (hereinafter referred to as “Additional Leased Premises “D”) with effect from and after November 1,
2001 and expiring April 30, 2003; 
 THEREFORE, in consideration of the mutual covenants and agreements between the parties and the sum
of $1.00 that has been paid by each of the parties to the other(s), the receipt and sufficiency of which are acknowledged, THE PARTIES AGREE AS FOLLOWS: 
 1. The foregoing recitals are true. 
 2. As of November 1, 2001, the Lease is amended as follows:

 (a) The definition of Leased Premises is amended to include Additional Leased Premises “D” comprised of
approximately two thousand and eighty-five (2,085) square feet of gross leaseable area on the 5th floor of the Building designated as Suite 560, outlined in red on Schedule “A-3” attached hereto; from and after
November 1, 2001 to and including April 30, 2003 the Leased Premises shall have a total gross leasable area of fifteen thousand, one hundred and forty-nine (15,149) square feet; from May 1, 2003 to the expiration of the Term, the
Leased Premises shall have a gross leasable area of eight thousand, three hundred and thirty four (8,334) square feet (collectively, the “Leased Premises”); 
 (b) The Tenant accepts the Additional Leased Premises “D” in an “as is” condition; 
 (c) the Landlord has no responsibility or liability for making any renovations, alterations or improvements in or to the Additional Leased
Premises “D”; 
 (d) all renovations, alterations or improvements in or to Additional Leased Premises “D”
are the sole responsibility of the Tenant and shall be undertaken and completed at the Tenant’s expense and strictly in accordance with the provisions of the Lease; 
 (e) any fixturing period, or requirement on the Landlord’s part, set out in the Lease to pay to the Tenant any construction
allowance, inducement, loan or other amount in connection with the Lease or improvements installed in the Original Leased Premises, shall not apply to Additional Premises “D”; 
  

 -2- 

 (f) the Base Rent for the Original Leased Premises, Additional Premises “B” and
Additional Premises “C” shall be as set out in the Lease; 
 (g) the Base Rent for Additional Premises “D”
shall be as follows: 
 “During the period commencing November 1, 2001 until April 30, 2003, the Tenant shall pay to the
Landlord in lawful money of Canada, without any deduction, abatement or setoff whatsoever, an annual Base Rent for Additional Leased Premises “D” of TWENTY-SEVEN THOUSAND, ONE HUNDRED AND FIVE DOLLARS ($27,105.00), being THIRTEEN DOLLARS
($13.00) per square foot of the gross leasable area of the Additional Leased Premises “D” being two thousand and eighty-five (2,085) square feet, payable in equal consecutive monthly installments of TWO THOUSAND, TWO HUNDRED AND
FIFTY-EIGHT DOLLARS AND SEVENTY-FIVE CENTS ($2,258.75) on the first day of each and every month during the Term for Additional Leased Premises “D”.” 
 (h) Section 10.2 “Tenant’s Right to Terminate” shall not be applicable to Additional Leased
Premises “D”. 
 (i) by adding Schedule “A-3” attached hereto immediately following
Schedule “A-2” currently annexed to the Lease; 
 3. The Tenant represents and warrants that it has the right, full power and
authority to agree to amend the Lease as provided in this Agreement, 
 4. The parties confirm that the Lease is in full force and effect, as
modified by this Agreement. All terms and expressions when used in this Agreement have the same meaning as they have in the Lease, unless contrary intention is expressed in this Agreement. 
 5. The Tenant acknowledges and agrees that it is in possession of the Leased Premises, that there are no uncured defaults by the Landlord and that the
Landlord has performed all of its obligations as set out in the Lease. 
 6. This Agreement shall enure to the benefit of and be binding upon
the parties hereto and their respective heirs, executors, administrators, permitted successors and permitted assigns, as the case may be. 
 IN WITNESS WHEREOF the parties hereto have hereunto caused to be affixed their corporate seals under the hands of their proper officers duly authorized in that behalf. 
  

 -3- 

 Executed by Landlord this 21st day of January, 2002. 
  

			
	 LEAD SKY ENTERPRISES LIMITED

		
	 Per:
	 	 /s/ Razali Embong

	 Per:
	 	  
	
	 I/We have the authority to bind the corporation

 Executed by Tenant this 18th day of December, 2001. 
  

			
	 COGENCY SEMICONDUCTOR INCORPORATED

		
	 Per:
	 	 /s/

	 Per:
	 	  
	Tenant
	
	 I/We have the authority to bind the corporation

  

 -4- 

 SCHEDULE “A-3” 
 

 

 LEASE AMENDING AGREEMENT 
 THIS AGREEMENT made May 16, 2002 
 BETWEEN: 
 LEAD SKY ENTERPRISES LIMITED 
 (hereinafter called the “Landlord”) 
 OF THE FIRST PART

 -and- 
 COGENCY SEMICONDUCTOR
INC. 
 (hereinafter called the “Tenant”) 
 OF THE SECOND PART 
 WHEREAS: 
 A. The parties entered into an indenture of lease dated the 17th day of March, 1998 (hereinafter referred to as the “Lease”) pursuant to which
the Landlord did demise and lease unto Cogency Technology Incorporated, as tenant certain premises consisting of Four Thousand, Seven Hundred and Thirty (4,730) square feet on the 5th floor, being Suite 580 (hereinafter referred to as the
“Original Leased Premises”) in the building known as 144-146 Front Street West (the “Building”) in the City of Toronto as therein described; 
 B. By Articles of Amendment dated January 5, 1999, Cogency Technology Inc. changed its name to Cogency Semiconductor Inc. (the “Tenant”); 
 C. By an agreement amending lease dated May 1, 2000, Tenant leased additional premises, being Suite 520, having a certified gross leasable area of
One Thousand, Five Hundred and Fifty-Two (1,552) square feet (the “Additional Leased Premises “A”) effective May 1, 1998; 
 D. By an agreement amending lease dated November 28, 2000, Tenant leased additional premises, being Suite 600, having a certified gross leasable area of Four Thousand, Six Hundred and Ninety-Three (4,693) square feet (the
“Additional Leased Premises “B”) effective March 1, 2001; 
 E. By an agreement dated October 19, 2001, Tenant
leased additional premises, being Suite 750, having a certified gross leasable area of Three Thousand, Six Hundred and Forty-One (3,641) square feet (the “Additional Leased Premises “C”) effective October 15, 2001;

 F. By an agreement dated October 19, 2001, the lease was amended in order to surrender Additional Leased Premises “A”,
being Suite 520, comprising a gross leasable area of approximately one thousand, five hundred and fifty-two (1,552) square feet on or before October 31, 2001; 

 G. By an agreement dated November 15, 2001, Tenant leased additional premises, being Suite 560,
having a certified gross leasable area of Two Thousand and Eighty-Five (2,085) square feet (the “Additional Leased Premises “D””) effective November 1, 2001; 
 H. By the lease and the agreements amending lease dated May 1, 2000, November 28, 2000, October 19, 2001 and November 15, 2001 shall
hereinafter collectively be referred to as the Lease, and the Original Leased Premises, Additional Leased Premises “B”, Additional Leased Premises “C” and Additional Leased Premises “D” shall hereinafter collectively be
referred to as the “Leased Premises”; 
 I. The Tenant has agreed to: (a) vacate Additional Leased Premises “C” by
no later than 11:59 p.m. on June 30, 2002; and (b) relocate its business operations from Additional Leased Premises “C” as of July 1, 2002 (the “Effective Date”) to certain premises (the “New Additional Leased
Premises “C””) comprising a gross leaseable area of approximately one thousand, five hundred and five (1,505) square feet designated as Suite No. 620 in the Building and shown outlined in heavy black on the plan attached to
this Agreement as Schedule “A-2”, all upon the same terms and conditions as are contained in the Lease, except as otherwise expressly modified by the terms of this Agreement. 
 J. The Landlord and Tenant shall have agreed to amend the Lease as of the Effective Date to give effect to the foregoing, in accordance with and subject
to the terms and conditions hereinafter set forth. 
 NOW THEREFORE THIS AGREEMENT WITNESSETH that in consideration the sum of Two Dollars
($2.00) now paid by each party to the other (the receipt and sufficient of which are hereby acknowledged), and other mutual covenants and agreements, the parties do hereby agree as follows: 
 1. The parties hereby acknowledge, confirm and agree that the foregoing recitals are true in substance and in fact. 
 2. The Tenant shall surrender and deliver up to the Landlord, prior to the Effective Date, vacant possession of the Additional Leased Premises
“C” in accordance with the Lease. 
 3. The Landlord and Tenant, subject to the provisions hereinafter contained, agree to release
and discharge the other, as of 11:59 p.m. on the day immediately preceding the Effective Date, from all claims under the Lease with respect to the Additional Leased Premises “C”, subject however, to any adjustments with respect to any
Rent or other charges payable pursuant to the Lease relating to the Additional Leased Premises “C” and save and except for any default by the Tenant under the Lease in respect of the Additional Leased Premises “C” existing on the
Effective Dates. 
 4. The Term of the Lease with respect to the New Additional Leased Premises shall be three (3) years and eight
(8) months, commencing on July 1, 2002 and ending February 28, 2006 in accordance with the terms and conditions of the Lease except as otherwise expressly modified by this Agreement. 
  

 -2- 

 5. The Landlord hereby demises and leases the New Additional Leased Premises “C” to the Tenant
and the Tenant hereby leases the New Additional Leased Premises “C” from the Landlord for a period commencing on the Effective Date and ending on February 28, 2006, upon the same terms and conditions as are contained in the Lease,
except as otherwise expressly modified by this Agreement. 
 6. The Tenant acknowledges and agrees that it is accepting possession of the New
Additional Leased Premises “C” in an “as is” condition as of the Effective Date and that the Landlord has no responsibility or liability for making any renovations, alterations or improvements in or to the New Additional Leased
Premises “C”. 
 All further renovations, alterations or improvements in or to the New Additional Leased Premises “C” are
the sole responsibility of the Tenant and shall be undertaken or completed at the Tenant’s expense and strictly in accordance with the provisions of the Lease. 
 Any fixturing period or requirement on the Landlord’s part set out in the Lease to pay to the Tenant any construction allowance, inducement, loan or other amount in connection with the Lease or improvements
installed in the Leased Premises shall not apply to the New Additional Leased Premises “C” except as follows: 
 Landlord shall pay all costs to replicate the Leasehold Improvements in the New Additional Leased Premises X”, and the Landlord will reimburse the Tenant those reasonable costs associated with the move, including moving and packing,
and relocation, disconnecting and reconnecting telephone and computer system upon proof of paid invoices therefor. 
 With
fifteen (15) days of execution of this Agreement, the Landlord shall submit plans and specifications (the “Landlord’s Plans”) for the construction of the New Additional Leased Premises “C”. Landlord’s Plans shall
be subject to the written approval of Tenant acting reasonably. Tenant shall notify Landlord of its approval of Landlord’s Plans or specific changes within five (5) business days of the date Tenant received Landlord’s Plans and
Landlord shall then prepare and submit to Tenant within five (5) days next following revised Landlord’s Plans satisfactory to Tenant. 
 7. From and after the Effective Date, the Lease is amended (with all references in the Lease to “Additional Leased Premises “C”” being deemed after the Effective Date to be the “New Additional Leased Premises
“C””) to give effect to the following: 
 (a) The gross leasable area of the New Additional Leased Premises
“C” is one thousand, five hundred and five (1,505) square feet. 
 (b) The Base Rent for the Original Leased
Premises, Additional Leased Premises “B” and Additional Leased Premises “D” shall be as set out in the Lease. 
  

 -3- 

 (c) The Base Rent for New Additional Leased Premises “C” shall be as follows:

 “During the period commencing July 1, 2002 until February 28, 2006, the Tenant shall pay to the Landlord in lawful money of
Canada, without any deduction, abatement or setoff whatsoever, an annual Base Rent for New Additional Leased Premises “C” of TWENTY-ONE THOUSAND AND SEVENTY DOLLARS ($21,070.00) being FOURTEEN DOLLARS ($14.00) per square foot of the gross
leasable area of the New Additional Leased Premises “C” being one thousand, five hundred and five (1,505) square feet, payable in equal consecutive monthly installments of ONE THOUSAND, SEVEN HUNDRED AND FIFTY-FIVE DOLLARS AND
EIGHTY-THREE CENTS ($1,755.83) on the first day of each and every month during the Term for New Additional Lease Premises “C”; 
 (d) Section 10.02 “Tenant’s Right to Terminate” shall not be applicable to New Additional Leased Premises “C”. 
 (e) Schedule “A-2” attached hereto shall be substituted for Schedule “A-2” currently attached to the Lease.

 8. The Tenant represents and warrants that it has the right, full power and authority to agree to amend the Lease as provided in this
Agreement 
 9. The parties confirm that the Lease is in full force and effect, as modified by this Agreement. All terms and expressions when
used in this Agreement have the same meaning as they have in the Lease, unless contrary intention is expressed in this Agreement. 
 10. The
Tenant acknowledges and agrees that it is in possession of the Leased Premises, that there are no uncured defaults by the Landlord and that the Landlord has performed all of its obligations as set out in the Lease. 
 11. This Agreement shall enure to the benefit of and be binding upon the parties hereto and their respective heirs, executors, administrators, permitted
successors and permitted assigns, as the case may be. 
  

 -4- 

 IN WITNESS WHEREOF the parties hereto have hereunto caused to be affixed their corporate seals under the
hands of their proper officers duly authorized in that behalf. 
 Executed by Landlord this 9th day of July, 2002. 
  

			
	 LEAD SKY ENTERPRISES LIMITED

		
	 Per:
	 	 /s/ Razali Embong

	
	 I/We have the authority to bind the corporation

 Executed by Tenant this 27th day of June, 2002. 
  

			
	 COGENCY SEMICONDUCTOR INC.

		
	 Per:
	 	 /s/

	
	 I/We have the authority to bind the corporation

  

 -5- 

 SCHEDULE “A-2” 
 

 

 CONSENT TO ASSIGNMENT 
 THIS AGREEMENT made as of the 21 day of January, 2004 
 BETWEEN: 
 LEAD SKY ENTERPRISES LIMITED, a corporation 
 incorporated under the laws of the Province of Ontario 
                                 (hereinafter called the “Landlord”)

                                 OF THE FIRST PART 
                                 and 
 COGENCY SEMICONDUCTOR INC., a corporation 
 existing under the laws of the Province of Ontario 
                                 (hereinafter called the “Assignor”)

                                 OF THE SECOND PART 
                                 and 
 INTELLON CANADA INC., a corporation 
 incorporated under the laws of the Province of Ontario 
                                 (hereinafter called the “Assignee”)

                                 OF THE THIRD PART 
                                 and 
 INTELLON CORPORATION, a corporation 
 incorporated under the laws of the State of Delaware 
                                 (hereinafter called the “Indemnitor”)

                                 OF THE FOURTH PART 
 WHEREAS: 
 1. The Assignor leases from the Landlord
certain premises consisting of 6,198 square feet of leaseable area in the building known municipally as 144-146 Front Street West, Toronto, Ontario and known as Suites 600 and 620 (the “Premises”) for a term ending on February 28,2006
(the “Term”) on the terms and conditions as set out in the Office Lease dated May 17,1998 between the Landlord and the Assignor, as amended by Agreements dated May 1,2000, November 28,2000, two (2) dated
October 19, 2001, November 15, 2001 and May 16, 2002 (collectively hereinafter referred to as the “Lease”). 
 2.
The Assignor has requested the Landlord to consent to the assignment (the “Assignment”) of the unexpired residue of the Term of the Lease from the 31st day of January, 2004 (the “Effective Date”). 
 3. The Lease contains in Section 4.18 a prohibition against Assignment of the Term without the prior consent in writing of the Landlord which
consent the Landlord has agreed to give subject to the execution and delivery of this Consent to Assignment Agreement. 
 NOW
THEREFORE in consideration of the sum of ONE DOLLAR ($1 00) now paid by the Landlord to the Indemnitor and in consideration of its consent and in consideration of good and valuable other consideration (the receipt and sufficiency of which is
hereby respectively acknowledged by each of the parties hereto), the parties hereto agree as follows’ 

 1. Subject to the terms of this Consent to Assignment Agreement the Landlord hereby consents to the
Assignment of the Lease to the Assignee as of the Effective Date. 
 2. This consent by the Landlord is without prejudice to the
Landlord’s rights under the Lease and at law and shall not be deemed to authorize any further or other assignment of the Lease or the subletting or parting with or sharing possession of all or any part of the Premises. 
 3. The Assignee covenants and agrees that the Assignee together with the Assignor shall be jointly and severally bound by all of the provisions of the
Lease and liable to pay to the Landlord all sums of any kind whatsoever and perform all obligations of any kind whatsoever which the tenant is obliged to pay or perform under the Lease or otherwise in respect of the Premises throughout the Term and
any renewal or extension thereof, including, without limitation, any charges billed after the dates hereof which relate to amounts payable in respect of the Premises pursuant to the Lease or otherwise at the date hereof which either had not yet been
billed to the tenant or had been billed to the tenant on an estimated basis subject to adjustment in accordance with the provisions of the Lease. 
 4. The Assignor covenants and agrees with the Landlord that: 
 (i) It is not hereby released from the performance of any of its
obligations pursuant to the Lease and it remains liable, jointly and severally with the Assignee, for all of the obligations of the Assignor as tenant under the Lease notwithstanding the Assignment or any further or other subletting or parting with
or sharing possession of all or any part of the Premises, the Assignor hereby agreeing that its obligations pursuant to the Lease and this Agreement shall extend throughout the Term and any renewal and extension thereof; and 
 (ii) Its liability hereunder and under the Lease shall not be released, discharged, mitigated, impaired or affected by any loss of or in respect of any
security received or intended to be received by the Landlord from the Assignee or from any other person, firm or corporation whether or not occasioned of contributed to, by or through the act, omission, default or neglect of the Landlord.

 5. The Assignor and the Assignee agree to be jointly and severally responsible for and to promptly pay the sum of Five Hundred Dollars
($500.00) plus GST in payment of the legal costs incurred by the Landlord with respect to this consent and the preparation of this Agreement. This amount is in addition to the documentation fee of Five Hundred Dollars ($500.00) already received by
the Landlord from the Assignor. 
 6. In consideration for the granting of this consent to the Assignment the Indemnitor, jointly and
severally covenant with the Landlord that the Assignee shall at all times pay the rent and additional rent reserved by the Lease and all other payments therein and herein covenanted to be paid by the Assignee at the times and in the manner provided
in the Lease and shall observe and perform the covenants, conditions and agreements on the part of the tenant therein and herein and that the Indemnitor shall make good to the Landlord all losses, costs and expenses sustained by the Landlord through
default of the Assignee under the Lease. 
 The Indemnitor shall be liable as a primary debtor and not as a surety for the indebtedness of
the Assignee to the Landlord pursuant to the Lease and this Agreement. 
 The Indemnitor shall not be released nor shall the liability of the
Indemnitor under this Agreement be limited or lessened by any variation or departure from the provisions of the Lease and this Agreement, by any extension of time, indulgences or modifications which the Landlord extends to or makes with the Assignee
in respect of the Lease and this Agreement, by any waiver by or failure of the Landlord to enforce any of the terms of the Lease, by any amendment of the Lease, by any discharge or release of the obligations of the Assignee or any other interested
person, by the release or discharge of the Assignee in any receivership, bankruptcy, winding up or other creditors’ proceedings or by the operation of law, or by the termination or threatened termination of the Lease by the Landlord.

  

 The Landlord shall not be required to proceed against the Assignee or pursue any other rights or remedies
against the Assignee or any other person with respect to the Lease or exhaust its recourse against the Assignee before becoming entitled to proceed against the Indemnitor pursuant to this Agreement. 
 Notices of non-payment and non-performance on the part of the Assignee or any other persons, notices of the amount of indebtedness outstanding at any
time and from time to time, protests, demands and prosecution of collection shall be provided to the Indemnitor. 
 7. Any notice, request or
demand provided for or given under this Agreement or under the Lease shall be in writing and shall be served in the manner specified in the Lease. The addresses for service of notice by registered mail shall be: 
 To the Landlord: 
 144 Front Street West 
 Suite 430 
 Toronto, Ontario M5J 2L7 
 Attention: Property Manager 
 Fax No: 416-593-1103 
 To the Assignee: 
 144 Front Street West 
 Suite 600 
 Toronto, Ontario M5J2L7 
 Attention: Chief Executive Officer 
 Fax No: 416-217-0256 
 To the Assignor: 
 144 Front Street West 
 Suite 600 
 Toronto, Ontario M5J 2L7 
 Attention: Chief Executive Officer 
 Fax No: 416-217-0256 
 To the Indemnitor: 
 5100 West Silver Springs Boulevard 
 Ocala, Florida 34482 
 USA 
 Attention: Chief Executive Officer 
 Fax: 352-237-7616 
 8. The Assignee acknowledges that it has received a copy of the Lease and is familiar with the terms, covenants and conditions contained therein.

 9. The parties hereto acknowledge and confirm that the Lease is in full force and effect, unmodified except in accordance with this
Agreement. 
 10. If any of the parties hereto consist of two or more person, this Agreement shall be read with all appropriate grammatical
changes and the obligations of such party hereunder shall be joint and several. 
  

 11. This Agreement shall be binding upon and, to the extent expressly permitted pursuant to the Lease,
shall enure to the benefit of the parties hereto and their respective heirs, executors, administrators, successors, assigns and other legal representatives. 
 IN WITNESS WHEREOF the parties have executed this Agreement. 
  

	
	LEAD SKY ENTERPRISES LIMITED
	Per.
	
	/S/    RAZALI EMBONG
	 Name: Razali Embong

	 Title: General Manager

	 I have authority to bind the Corporation.

	
	COGENCY, SEMICONDUCTOR INC.
	Per:
	
	/S/    COLIN MARTIN
	 Name: Colin Martin

	 Title: CFO

	 I have authority to bind the Corporation.

	
	INTELLON CANADA INC.
	Per:
	
	/S/    CHARLES E. HARRIS
	 Name:

	 Title:

	 I have authority to bind the Corporation.

	
	INTELLON CORPORATION
	Per:
	
	/S/    CHARLES E. HARRIS
	 Name:

	 Title:

	 I have authority to bind the Corporation.

 LEASE EXTENSION AGREEMENT 
 This Agreement made as of the 11th day of January, 2006 
 BETWEEN: 
 LEAD SKY ENTERPRISES LTD. (the “Landlord”) 
 -and- 
 INTELLON CANADA INC. (the “Tenant”) 
 -and- 
 INTELLON CORPORATION (the “Indemnitor”) 
 WHEREAS 
 A. The Tenant leases from the Landlord certain premises known as Suites 475, 600 and 620 (the
“Premises”) in the building known municipally as 144-146 Front Street West, Toronto, Ontario pursuant to: 
 (a) a lease dated the
17th day of March, 1998 entered into by the Landlord with Cogency Technology Incorporation (the “Original Lease”); 
 (b)
agreements amending the Original Lease dated May 1, 2000, November 28, 2000, two dated October 19, 2001, November 15, 2001 and May 16, 2002, all as assigned by Cogency Semiconductor Inc. (formerly Cogency Technology Inc.) to the Tenant and consented
to by the Landlord; and 
 (c) as further amended by a Lease Amending Agreement dated August 10, 2004 (the Original Lease as amended and
assigned being hereinafter referred to as the “Existing Lease”). 
 B. The term of the Existing Lease (the “Existing Term”) expires on
February 28, 2006 and the Landlord and the Tenant have agreed to an extension of the Existing Term for a two year period from March 1, 2006 to February 29, 2008 subject to the terms and conditions as herein set out. 
 WITNESSETH that in consideration of other good and valuable consideration and the sum of Ten Dollars ($10.00) now paid by each party to the other
and the mutual covenants and agreements herein contained (the receipt and adequacy of which consideration is hereby acknowledged by each of the parties hereto), the Landlord and Tenant agree as follows: 
  

	1.	Extended Term: The Existing Term shall be and is hereby extended for a period of two (2) years from the 1st day of March, 2006 and expiring on February 29, 2008, unless
terminated earlier pursuant to the provisions of the Lease (the “Extended Term”). 

  

	2.	Defined Terms: All capitalized terms used in this Agreement and not expressly defined in this Agreement shall have the same meanings as are ascribed to such terms in the
Existing Lease. The term “Lease” where used in this Agreement shall mean the Existing Lease as modified by this Agreement. 

  

	3.	Base Rent: The Base Rent for the Premises during the Extended Term shall be the sum of Ninety Seven Thousand, Seven Hundred and Seventy Nine Dollars and Seventy-Five Cents
($97,779.75) per annum, calculated on the basis of Twelve Dollars and Seventy-Five Cents ($12.75) per square foot of the gross leaseable area of the Premises per annum. Such Base Rent is to be payable in equal consecutive monthly installments of
Eight Thousand, One Hundred and Forty-Eight — 31/100 Dollars ($8,148.31) on the first day of each and every month, with the first of such payments coming due and being payable on March 1, 2006. 

  

	4.	Additional Rent: The Landlord represents that the total Additional Rent with respect to the Additional Rent payable pursuant to subsections 3(2) and 3(5) of the Original
Lease for the 2006 calendar year is estimated to be Fourteen Dollars — 39/100 ($14.39) per square foot of the gross leaseable area of the Premises. It is understood that this estimate by the Landlord is a bona fide estimate but that is not
intended by the parties to 

	 	 
be relied upon by the Tenant and is not binding and does not impose liabilities on the Landlord or affect the Tenant’s obligations under the Lease.

  

	5.	GST: The Tenant covenants with the Landlord to pay all Goods and Services Tax that is exigible in respect of the rent payable under the Lease. 

  

	6.	Condition of Premises: All work required or desired to be done in respect of the Premises shall be carried out by the Tenant (the “Tenant’s Work”) in
accordance with the provisions of the Lease including obtaining the prior written approval of the Landlord. The Tenant agrees that it is accepting the Premises in an as is/where is condition and the Landlord will not be obligated to carry out any
work at or in respect of the Premises. 

  

	7.	Existing Lease to Continue: The Landlord and the Tenant hereby covenant that they shall perform and observe the covenants, provisos and stipulations in the Existing Lease, as
amended by this Agreement as if such covenants, provisos and stipulations had been repeated in this Agreement in full with such modification only as are necessary to make them applicable to the Extended Term. 

  

	8.	Existing Indemnity to Continue: The Indemnifier consents to the extension of the Existing Term as provided for herein and agrees that it shall be jointly and severally liable
with the Tenant under its covenant as set out in paragraph 6 of the Consent to Assignment dated January 21, 2004, notwithstanding the extension of the Existing Term. The Indemnifier acknowledges and agrees that its indemnity in favour of the
Landlord shall continue to apply throughout the Extended Term. 

  

	9.	Continuation of the Existing Lease Terms: The parties hereto confirm that the Existing Lease is in full force and effect and hereby covenant that they shall perform and
observe the respective covenants, provisos and stipulations in the Existing Lease as modified by this Agreement as if such covenants, provisos and stipulations had been repeated in this Agreement in full. 

  

	10.	Successors and Assigns: This Agreement shall enure to the benefit of and be binding upon the parties hereto and there respective successors and permitted assigns.

 IN WITNESS WHEREOF the parties have executed this agreement as of the date first written above. 
  

	
	LEAD SKY ENTERPRISES LIMITED
	 Per:

	
	 /s/ Razali Embong

	Razali Embong — General Manager
	I have authority to bind the corporation
	
	INTELLON CANADA INC.
	Per:
	
	 /s/ Charles Harris

	Chairman and CEO
	I have authority to bind the corporation
	
	INTELLON CORPORATION
	Per:
	
	 /s/ Charles Harris

	Chairman and CEO
	I have authority to bind the corporationExhibit 10.15

 Exhibit 10.15 
 LOAN AND SECURITY AGREEMENT 
 THIS LOAN AND SECURITY AGREEMENT (this
“Agreement”) dated as of the Effective Date between SILICON VALLEY BANK, a California corporation (“Bank”), and INTELLON CORPORATION, a Delaware corporation (“Borrower”), provides the terms
on which Bank shall lend to Borrower and Borrower shall repay Bank. The parties agree as follows: 
 1. ACCOUNTING AND OTHER TERMS

 Accounting terms not defined in this Agreement shall be construed following GAAP. Calculations and determinations must be made
following GAAP. Capitalized, terms not otherwise defined in this Agreement shall have the meanings set forth in Section 13. All other terms contained in this Agreement, unless otherwise indicated, shall have the meaning provided by the Code to
the extent such terms are defined therein. 
 2. LOAN AND TERMS OF PAYMENT 
 2.1 Promise to Pay. Borrower hereby unconditionally promises to pay Bank the outstanding principal amount of all Credit Extensions and accrued and
unpaid interest thereon as and when due in accordance with this Agreement 
 2.1.1 Revolving Advances. 
 (a) Availability. Subject to the terms and conditions of this Agreement, Bank shall make Advances not exceeding the Availability Amount. Amounts
borrowed under the Revolving Line may be repaid and, prior to the Revolving Line Maturity Date, reborrowed, subject to the applicable terms and conditions precedent herein. 
 (b) Termination: Repayment. The Revolving Line terminates on the Revolving Line Maturity Date, when the principal amount of all Advances, the
unpaid interest thereon, and all other Obligations relating to the Revolving Line shall be immediately due and payable. 
 2.1.2 Letters
of Credit Sublimit. 
 (a) As part of the Revolving Line, Bank shall issue or have issued Letters of Credit for Borrower’s account.
The face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve), together with amounts utilized by the Borrower under Sections 2.1.3 and 2.1.4 hereof, may not exceed
$2,000,000. Such aggregate amounts utilized hereunder shall at all times reduce the amount otherwise available for Advances under the Revolving Line. If, on the Revolving Maturity Date, there are any outstanding Letters of Credit, then on such date
Borrower shall provide to Bank cash collateral in an amount equal to 100% of the face amount of all such Letters of Credit plus all interest, fees, and costs due or to become due in connection therewith (as estimated by Bank in its good faith
business judgment), to secure all of the Obligations relating to said Letters of Credit. All Letters of Credit shall be in form and substance acceptable to Bank in its sole discretion and shall be subject to the terms and conditions of Bank’s
standard Application and Letter of Credit Agreement (the “Letter of Credit Application”). Borrower agrees to execute any further documentation in connection with the Letters of Credit as Bank may reasonably request. 
 (b) The obligation of Borrower to immediately reimburse Bank for drawings made under Letters of Credit shall be absolute, unconditional, and irrevocable,
and shall be performed strictly in accordance with the terms of this Agreement, such Letters of Credit, and the Letter of Credit Application. 
 (c) Borrower may request that Bank issue a Letter of Credit payable in a Foreign Currency. If a demand for payment is made under any such Letter of Credit, Bank shall treat such demand as an Advance to Borrower of the equivalent of the
amount thereof (plus fees and charges in connection therewith such as wire, cable, SWIFT or similar charges) in Dollars at the then-prevailing rate of exchange in San Francisco, California, for sales of the Foreign Currency for transfer to the
country issuing such Foreign Currency. 

 (d) To guard against fluctuations in currency exchange rates, upon the issuance of any Letter of Credit
payable in a Foreign Currency, Bank shall create a reserve (the “Letter of Credit Reserve”) under the Revolving Line in an amount equal to ten percent (10%) of the face amount of such Letter of Credit. The amount of the Letter
of Credit Reserve may be adjusted by Bank from time to time to account for fluctuations in the exchange rate. The availability of funds under the Revolving Line shall be reduced by the amount of such Letter of Credit Reserve for as long as such
Letter of Credit remains outstanding. 
 2.1.3 Foreign Exchange Sublimit. As part of the Revolving Line, Borrower may enter into
foreign exchange contracts with Bank under which Borrower commits to purchase from or sell to Bank a specific amount of Foreign Currency (each, a “FX Forward Contract”) on a specified date (the “Settlement Date”).
FX Forward Contracts shall have a Settlement Date of at least one (1) FX Business Day after the contract date and shall be subject to a reserve of ten percent (10%) of each outstanding FX Forward Contract in a maximum aggregate amount
equal to (x) $2,000,000, minus amounts utilized by Borrower under Sections 2.1.2 and 2.1.4 hereof (the “FX Reserve”). The aggregate amount of FX Forward Contracts at any one time may not exceed ten (10) times
the amount of the FX Reserve. The obligations of Borrower relating to this section may not exceed the Availability Amount. 
 2.1.4 Cash
Management Services Sublimit. Borrower may use up to an amount equal to (x) $2,000,000 minus (y) amounts utilized by Borrower under Sections 2.1.2 and 2.1.3 hereof (the “Cash Management Services Sublimit”)
of the Revolving Line for Bank’s cash management services which may include merchant services, direct deposit of payroll, business credit card, and check cashing services identified in Bank’s various cash management services agreements
(collectively, the “Cash Management Services”). Any amounts Bank pays on behalf of Borrower or any amounts that are not paid by Borrower for any Cash Management Services will be treated as Advances under the Revolving Line and will
accrue interest at the interest rate applicable to Advances. 
 2.1.5 Reducing Line of Credit. 
 (a) Availability. Subject to the terms and conditions of this Agreement, Bank shall make Reducing Facility Advances not exceeding the Reducing
Facility Availability Amount as in effect from time to time. Amounts borrowed under the Reducing Facility may be repaid and, prior to the Reducing Facility Maturity Date, reborrowed, subject to the applicable terms and conditions precedent herein.

 (b) Repayment. If, after any automatic reduction in the Reducing Facility Amount, the principal amount of Reducing Facility
Advances exceeds the Reducing Facility Amount, Borrower shall immediately repay to Bank in cash such excess. 
 (c) Termination:
Repayment. The Reducing Facility terminates on the Reducing Facility Maturity Date, when the principal amount of all Reducing Facility Advances, the unpaid interest thereon, and all other Obligations relating to the Reducing Facility shall be
immediately due and payable. 
 2.2 Overadvances. If, at any time, the Credit Extensions under Sections 2.1.1, 2.1.2, 2.1.3 and
2.1.4 exceed the lesser of either (a) the Revolving Line or (b) the Borrowing Base, Borrower shall immediately pay to Bank in cash such excess. 
 2.3 Payment of Interest on the Credit Extensions. 
 (a) Interest Rate. 
 (i) Advances. Subject to Section 2.3(b), the principal amount outstanding under the Revolving Line shall accrue interest at a floating per
annum rate equal to .25 percentage points above the Prime Rate; provided that the principal amount outstanding under the Revolving Line shall accrue interest at a floating rate equal to .75 percentage points above the Prime Rate during any period
that Borrower’s Cash maintained with the Bank is less that the aggregate principal amount of all Advances and Reducing Facility Advances; provided further, that following a Qualified Public Offering, the principal amount outstanding for each
Advance may, at Borrower’s request, accrue interest at a floating 

  

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rate per annum equal to 2.50 percentage points above the LIBOR Rate, in accordance with and subject to the terms and provisions contained in, the LIBOR
Supplement. Interest on amounts outstanding under the Revolving Facility shall be payable monthly in accordance with Section 2.3(f) below. 
 (ii) Reducing Facility Advances. Subject to Section 2.3(b), the principal amount outstanding for each Reducing Facility Advance shall accrue interest at a floating per annum rate equal to .50 percentage points above the Prime
Rate; provided that the principal amount outstanding under the Reducing Facility shall accrue interest at a floating rate equal to 1.00 percentage point above the Prime Rate during any period that Borrower’s Cash maintained with the Bank is
less that the aggregate principal amount of all Advances and Reducing Facility Advances; provided further, that, following a Qualified Public Offering, the principal amount outstanding for each Reducing Facility Advance may, at Borrower’s
request, accrue interest at a floating rate per annum equal to 2.75 percentage points above the LIBOR Rate, in accordance with and subject to the terms and provisions contained in the LIBOR Supplement. Interest on the Reducing Facility Advances
shall be payable monthly in accordance with Section 2.3 (f) below. 
 (iii) Minimum Interest. In the event that the
aggregate amount of interest earned by Bank during any calendar quarter under this Agreement is less than the Minimum Quarterly Interest, Borrower shall pay to Bank additional interest equal to (i) the Minimum Quarterly Interest minus
(ii) the aggregate amount of all interest earned by Bank in such quarter. Such additional interest shall be payable on the first day of the next quarter. 
 (b) Default Rate. Immediately upon the occurrence and during the continuance of an Event of Default, Obligations shall bear interest at a rate per annum which is three percentage points above the rate effective
immediately before the Event of Default (the “Default Rate”). Payment or acceptance of the increased interest rate provided in this Section 2.3(b) is not a permitted alternative to timely payment and shall not constitute a
waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of Bank. 
 (c) Adjustment to Interest Rate.
Changes to the interest rate of any Credit Extension based on changes to the Prime Rate shall be effective on the effective date of any change to the Prime Rate and to the extent of any such change. 
 (d) 360-Day Year. Interest shall be computed on the basis of a 360-day year for the actual number of days elapsed. 
 (e) Debit of Accounts. Bank may debit any of Borrower’s deposit accounts, including the Designated Deposit Account, for principal and
interest payments or any other amounts Borrower owes Bank when due. These debits shall not constitute a set-off. 
 (f) Payments.
Unless otherwise provided, interest is payable monthly on the first calendar day of each month. Payments of principal and/or interest received after 12:00 p.m. Pacific time are considered received at the opening of business on the next Business Day.
When a payment is due on a day that is not a Business Day, the payment is due the next Business Day and additional fees or interest, as applicable, shall continue to accrue. 
 2.4 Fees. Borrower shall pay to Bank: 
 (a) Revolving Line Commitment Fee. A fully earned, non-refundable commitment fee equal to one quarter of one percent (0.25%) of the Revolving Line, on the Effective Date and on each anniversary of the Effective Date; 
 (b) Reducing Facility Commitment Fee. A fully earned, non-refundable commitment fee equal to one half of one percent (0.50%) of the weighted
average of Reducing Facility Amount determined for the following year, on the Effective Date and on each anniversary of the Effective Date; 
 (c) Letter of Credit Fee. Bank’s customary fees and expenses for the issuance or renewal of Letters of Credit, including, without limitation, a Letter of Credit Fee of one percent (1.00%) per annum of the face amount of
each Letter of Credit issued, upon the issuance, each anniversary of the issuance, and the renewal of such Letter of Credit; and 
  

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 (d) Bank Expenses. All Bank Expenses (including reasonable attorneys’ fees and expenses, plus
expenses, for documentation and negotiation of this Agreement) incurred through and after the Effective Date, when due. 
 3.
CONDITIONS OF LOANS 
 3.1 Conditions Precedent to Initial Credit Extension. Bank’s obligation to make the initial
Credit Extension is subject to the condition precedent that Bank shall have received, in form and substance satisfactory to Bank, such documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate, including,
without limitation: 
 (a) Each of Borrower and Guarantor shall have delivered duly executed original signatures to the Loan Documents to
which it is a party; 
 (b) Borrower shall have delivered duly executed original signatures to the Control Agreements; 
 (c) Borrower shall have delivered its Operating Documents and a good standing certificate of Borrower certified by the Secretary of State of the States
of Delaware, California and Florida as of a date no earlier than thirty (30) days prior to the Effective Date; 
 (d) Borrower shall
have delivered duly executed original signatures to the completed Borrowing Resolutions for Borrower; 
 (e) Bank shall have received
certified copies, dated as of a recent date, of financing statement searches, as Bank shall request, accompanied by written evidence (including any UCC termination statements) that the Liens indicated in any such financing statements either
constitute Permitted Liens or have been or, in connection with the initial Credit Extension, will be terminated or released; 
 (f) Borrower
shall have delivered the Perfection Certificate(s) executed by Borrower and Guarantor; 
 (g) Borrower shall have delivered a landlord’s
consent with respect to the Borrower’s leased property located in Ocala, Florida, executed by E&E investments in favor of Bank; 
 (h) Borrower shall have delivered evidence satisfactory to Bank that the insurance policies required by Section 6.5 hereof are in full force and effect, together with appropriate evidence showing loss payable and/or additional insured
clauses or endorsements in favor of Bank; and 
 (i) Borrower shall have paid the fees and Bank Expenses then due as specified in
Section 2.4 hereof. 
 3.2 Conditions Precedent to all Credit Extensions. Bank’s obligations to make each Credit Extension,
including the initial Credit Extension, is subject to the following: 
 (a) except as otherwise provided in Section 3.4(a), timely
receipt of an executed Payment/Advance Form; 
 (b) the representations and warranties in Section 5 shall be true in all material
respects on the date of the Payment/Advance Form and on the Funding Date of each Credit Extension; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or
modified by materiality in the text thereof; and provided, further that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date, and no Default or
Event of Default shall have occurred and be continuing or result from the Credit Extension. Each Credit Extension is Borrowers representation and warranty on that date that the representations and warranties in Section 5 remain true in all
material respects; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof; and provided, further that those
representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date; and 
  

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 (c) in Bank’s sole discretion, there has not been a Material Adverse Change. 
 3.3 Covenant to Deliver. 
 Borrower
agrees to deliver to Bank each item required to be delivered to Bank under this Agreement as a condition to any Credit Extension. Borrower expressly agrees that the extension of a Credit Extension prior to the receipt by Bank of any such item shall
not constitute a waiver by Bank of Borrower’s obligation to deliver such item, and any such extension in the absence of a required item shall be in Bank’s sole discretion. 
 3.4 Procedures for Borrowing. 
 (a)
Advances. Subject to the prior satisfaction of all other applicable conditions to the making of an Advance set forth in this Agreement, to obtain an Advance, Borrower shall notify Bank (which notice shall be irrevocable) by electronic mail,
facsimile, or telephone by 12:00 p.m. Pacific time on the Funding Date of the Advance. Together with any such electronic or facsimile notification, Borrower shall deliver to Bank by electronic mail or facsimile a completed Payment/Advance Form
executed by a Responsible Officer or his or her designee. Bank may rely on any telephone notice given by a person whom Bank believes is a Responsible Officer or designee. Bank shall credit Advances to the Designated Deposit Account. Bank may make
Advances under this Agreement based on instructions from a Responsible Officer or his or her designee or without instructions if the Advances are necessary to meet Obligations which have become due. 
 (b) Reducing Facility Advances. Subject to the prior satisfaction of all other applicable conditions to the making of a Reducing Facility Advance
set forth in this Agreement, to obtain a Reducing Facility Advance, Borrower shall notify Bank (which notice shall be irrevocable) by electronic mail, facsimile, or telephone by 12:00 p.m. Pacific time on the Funding Date of the Reducing Facility
Advance. Together with any such electronic or facsimile notification, Borrower shall deliver to Bank by electronic mail or facsimile a completed Payment/Advance Form executed by a Responsible Officer or his or her designee. Bank may rely on any
telephone notice given by a person whom Bank believes is a Responsible Officer or designee. Bank shall credit Reducing Facility Advances to the Designated Deposit Account. Bank may make Reducing Facility Advances under this Agreement based on
instructions from a Responsible Officer or his or her designee or without instructions if the Reducing Facility Advances are necessary to meet Obligations which have become due. 
 4. CREATION OF SECURITY INTEREST. 
 4.1 Grant of Security Interest. Borrower hereby grants Bank, to secure the payment and performance in full of all of the Obligations, a continuing security interest in, and pledges to Bank, the Collateral, wherever located, whether
now owned or hereafter acquired or arising, and all proceeds and products thereof. Borrower represents, warrants, and covenants that the security interest granted herein is and shall at all times continue to be a first priority perfected security
interest in the Collateral (subject only to Permitted Liens that may have superior priority to Bank’s Lien under this Agreement). If Borrower shall acquire a commercial tort claim involving an amount in controversy of at least $150,000,
Borrower shall promptly notify Bank in a writing signed by Borrower of the general details thereof and grant to Bank in such writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to
be inform and substance reasonably satisfactory to Bank. 
 If this Agreement is terminated, Bank’s Lien in the Collateral shall
continue until the Obligations (other than inchoate indemnity obligations) are repaid in full in cash. Upon payment in full in cash of the Obligations and at such time as Bank’s obligation to make Credit Extensions has terminated, Bank shall,
at Borrower’s sole cost and expense, release its Liens in the Collateral and all rights therein shall revert to Borrower. 
 4.2
Authorization to File Financing Statements. Borrower hereby authorizes Bank to file financing statements, without notice to Borrower, with all appropriate jurisdictions to perfect or protect Bank’s interest or rights hereunder,
including a notice that any disposition of the Collateral (other than in accordance with this Agreement), by either Borrower or any other Person, shall be deemed to violate the rights of Bank under the Code. 
  

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 5. REPRESENTATIONS AND WARRANTIES 
 Borrower represents and warrants as follows: 
 5.1 Due Organization and Authorization. Borrower and each of its Subsidiaries are duly existing and in good standing in their respective jurisdictions of formation and are qualified and licensed to do business and are in good
standing in any jurisdiction in which the conduct of their business or their ownership of property requires that they be qualified except where the failure to do so could not reasonably be expected to have a material adverse effect on
Borrower’s business. In connection with this Agreement, Borrower has delivered to Bank a completed certificate substantially in the form attached hereto as Exhibit ___ signed by Borrower, entitled “Perfection Certificate”.
Borrower represents and warrants to Bank that (a) the exact legal name of Borrower and each of its Subsidiaries is that indicated on the Perfection Certificate and on the signature page hereof; (b) each of Borrower and its Subsidiaries is
an organization of the type and is organized in the jurisdiction set forth in the Perfection Certificate; (c) the Perfection Certificate accurately sets forth Borrower’s and each Subsidiary’s organizational identification number or
accurately states that Borrower has none; (d) the Perfection Certificate accurately sets forth Borrower’s and each of its Subsidiary’s place of business, or, if more than one, its chief executive office as well as Borrower’s and
each Subsidiary’s mailing address (if different than its chief executive office); (e) except as set forth in the Perfection Certificate delivered to the Bank, none of Borrower or any of its Subsidiaries (or any of their respective
predecessors) has, in the past five (5) years, changed its jurisdiction of formation, organizational structure or type, or any organizational number assigned by its jurisdiction; and (f) all other information set forth on the Perfection
Certificate pertaining to Borrower and each of its Subsidiaries is accurate and complete. If Borrower is not now a Registered Organization but later becomes one, Borrower shall promptly notify Bank of such occurrence and provide Bank with
Borrower’s organizational identification number. 
 The execution, delivery and performance of the Loan Documents have been duly
authorized, and do not conflict with Borrower’s organizational documents, nor constitute an event of default under any material agreement by which Borrower is bound. Borrower is not in default under any agreement to which it is a party or by
which it is bound in which the default could have a material adverse effect on Borrower’s business. 
 5.2 Collateral.

 (a) Borrower has good title to, has rights in, and the power to transfer each item of the Collateral upon which it purports to grant a Lien
hereunder, free and dear of any and all Liens except Permitted Liens. Borrower has no deposit accounts other than the deposit accounts with Bank, the deposit accounts, if any, described in the Perfection Certificate delivered to Bank in connection
herewith, or of which Borrower has given Bank notice and taken such actions as are necessary to give Bank a perfected security interest therein. The Accounts are bona fide, existing obligations of the Account Debtors. 
 (b) The Collateral is not in the possession of any third party bailee (such as a warehouse) except as otherwise provided in the Perfection Certificate.
None of the components of the Collateral shall be maintained at locations other than as provided in the Perfection Certificate or as Borrower has given Bank notice pursuant to Section 7.2. In the event that Borrower, after the date hereof,
intends to store or otherwise deliver any portion of the Collateral to a bailee, then Borrower will first receive the written consent of Bank and such bailee must execute and deliver a bailee agreement in form and substance satisfactory to Bank in
its sole discretion. 
 (c) All inventory is in all material respects of good and marketable quality, free from material defects. 

5.3 Accounts Receivable and Purchase Orders. For any Eligible Domestic Account, Eligible Foreign Account and Purchase Order in any Borrowing
Base Certificate, all statements made and all unpaid balances appearing in all invoices, instruments and other documents evidencing such Eligible Domestic Accounts, Eligible Foreign Accounts and Purchase Orders are and shall be true and correct and
all such invoices, instruments and other documents, and all of Borrower’s Books are genuine and in all respects what they purport to be. All sales and other transactions underlying or giving rise to each 

  

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Eligible Domestic Account, Eligible Foreign Account and Purchase Order shall comply in all material respects with all applicable laws and governmental rules
and regulations. No Responsible Officer of Borrower has any Knowledge of any actual or imminent Insolvency Proceeding of any Account Debtor whose accounts are an Eligible Domestic Account or an Eligible Foreign Account or whose Purchase Orders are
Eligible Purchase Orders in any Borrowing Base Certificate. To the best of any Responsible Officer’s Knowledge, all signatures and endorsements on all documents, instruments, and agreements relating to all Eligible Domestic Accounts, Eligible
Foreign Accounts and Purchase Orders are genuine, and all such documents, instruments and agreements are legally enforceable in accordance with their terms. 
 5.4 Litigation. There are no actions or proceedings pending or, to the Knowledge of the Responsible Officers, threatened in writing by or against Borrower or any of its Subsidiaries involving more than
$250,000. 
 5.5 No Material Deviation in Financial Statements. All consolidated financial statements for Borrower and any of its
Subsidiaries delivered to Bank fairly present in all material respects Borrower’s consolidated financial condition and Borrower’s consolidated results of operations. There has not been any material deterioration in Borrower’s
consolidated financial condition since the date of the most recent financial statements submitted to Bank. 
 5.6 Solvency. The
fair salable value of Borrower’s assets (including goodwill minus disposition costs) exceeds the fair value of its liabilities; Borrower is not left with unreasonably small capital after the transactions in this Agreement; and Borrower is able
to pay its debts (including trade debts) as they mature. 
 5.7 Regulatory Compliance. Borrower is not an “investment
company” or a company “controlled” by an “investment company” under the Investment Company Act. Borrower is not engaged as one of its important activities in extending credit for margin stock (under Regulations T and U
of the Federal Reserve Board of Governors). Borrower has complied in all material respects with the Federal Fair Labor Standards Act. Borrower has not violated any laws, ordinances or rules, the violation of which could reasonably be expected to
have a material adverse effect on its business. None of Borrower’s or any of its Subsidiaries’ properties or assets has been used by Borrower or any Subsidiary or, to the best of Borrower’s Knowledge, by previous Persons, in
disposing, producing, storing, treating, or transporting any hazardous substance other than legally. Borrower and each of its Subsidiaries have obtained all consents, approvals and authorizations of, made all declarations or filings with, and given
all notices to, all government authorities that are necessary and material to continue its business as currently conducted. 
 5.8
Subsidiaries; Investments. Borrower does not own any stock, partnership interest or other equity securities except for Permitted Investments. 
 5.9 Tax Returns and Payments; Pension Contributions. Borrower has timely filed all required tax returns and reports, and Borrower has timely paid all foreign, federal, state and local taxes, assessments, deposits and contributions
owed by Borrower. Borrower may defer payment of any contested taxes, provided that Borrower (a) in good faith contests its obligation to pay the taxes by appropriate proceedings promptly and diligently instituted and conducted,
(b) notifies Bank in writing of the commencement of, and any material development in, the proceedings, (c) posts bonds or takes any other steps required to prevent the governmental authority levying such contested taxes from obtaining a
Lien upon any of the Collateral that is other than a “Permitted Lien”. The Responsible Officers are unaware of any claims or adjustments proposed for any of Borrower’s prior tax years which could result in additional taxes becoming
due and payable by Borrower. Borrower has paid all amounts necessary to fund all present pension, profit sharing and deferred compensation plans in accordance with their terms, and Borrower has not withdrawn from participation in, and has not
permitted partial or complete termination of, or permitted the occurrence of any other event with respect to, any such plan which could reasonably be expected to result in any liability of Borrower, including any liability to the Pension Benefit
Guaranty Corporation or its successors or any other governmental agency. 
  

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 5.10 Use of Proceeds. Borrower shall use the proceeds of the Credit Extensions solely as working
capital, and to fund its general business requirements and not for personal, family, household or agricultural purposes. 
 5.11 Full
Disclosure. No written representation, warranty or other statement of Borrower in any certificate or written statement given to Bank, as of the date such representations, warranties, or other statements were made, taken together with all such
written certificates and written statements given to Bank, contains any untrue statement of a material fact or omits to state a material fact necessary to make the statements contained in the certificates or statements not misleading (it being
recognized by Bank that the projections and forecasts provided by Borrower in good faith and based upon reasonable assumptions are not viewed as facts and that actual results during the period or periods covered by such projections and forecasts may
differ from the projected or forecasted results). 
 6. AFFIRMATIVE COVENANTS 
 Borrower shall do all of the following, during the term of this Agreement and/or for so long as any Obligations (other than inchoate indemnification
obligations intended to survive termination) remain outstanding: 
 6.1 Government Compliance. Maintain its and all its
Subsidiaries’ legal existence and good standing in their respective jurisdictions of formation and maintain qualification in each jurisdiction in which the failure to so qualify would reasonably be expected to have a material adverse effect on
Borrower’s business or operations. Borrower shall comply, and have each Subsidiary comply, with all laws, ordinances and regulations to which it is subject, noncompliance with which would, or could reasonably be expected to, result in a
Material Adverse Change. 
 6.2 Financial Statements, Reports, Certificates. 
 (a) Deliver to Bank: (i) as soon as available, but no later than thirty (30) days after the last day of each month, a company prepared
consolidated and consolidating balance sheet and income statement covering Borrower’s and each of its Subsidiary’s operations during the period certified by a Responsible Officer and in a form acceptable to Bank; (ii) as soon as
available, but no later than one hundred fifty (150) days after the last day of Borrower’s fiscal year, audited consolidated financial statements prepared under GAAP, consistently applied, together with an unqualified opinion on the
financial statements from Ernst & Young or another independent certified public accounting firm acceptable to Bank in its reasonable discretion; (iii) within five (5) days of delivery, copies of all statements, reports and notices
made available to Borrower’s security holders or to any holders of Subordinated Debt (iv) in the event that Borrower becomes subject to the reporting requirements under the Securities Exchange Act of 1934, as amended, within five
(5) days of filing, all reports on Form 1Q-K, 10-Q and 8-K filed with the Securities and Exchange Commission or a link thereto on Borrower’s or another website on the Internet; (iv) a prompt report of any legal actions pending or
threatened against Borrower or any of its Subsidiaries that could result in damages or costs to Borrower or any of its Subsidiaries of Two Hundred Fifty Thousand Dollars ($250,000) or more; and (v) budgets, sales projections, operating plans
and other financial information reasonably requested by Bank. 
 (b) Within thirty (30) days after the last day of each month, deliver
to Bank a duly completed Borrowing Base Certificate signed by a Responsible Officer, with (i) aged listings of accounts receivable and accounts payable (by invoice date) and (ii) purchase order reports for the Purchase Orders, or such
other Purchase Order reports as are requested by Bank in its reasonable business judgment. 
 (c) Within thirty (30) days after the last
day of each month, deliver to Bank with the monthly financial statements, a duly completed Compliance Certificate signed by a Responsible Officer setting forth calculations showing compliance with the financial covenants set forth in this Agreement.

 (d) Allow Bank to audit Borrower’s Collateral at Borrower’s expense. The first such audit will be conducted within 30 days of
closing, and thereafter such audits shall be conducted no more often than once every twelve (12) months unless a Default or an Event of Default has occurred and is continuing. 
  

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 6.3 Inventory; Returns. Keep all inventory in good and marketable condition, free from material
defects. Returns and allowances between Borrower and its Account Debtors shall follow Borrower’s customary practices as they exist at the Effective Date, absent Bank’s consent, not to be unreasonably withheld. Borrower must promptly notify
Bank of all returns, recoveries, disputes and claims that involve more than Two Hundred Fifty Thousand Dollars ($250,000). 
 6.4 Taxes;
Pensions. Make, and cause each of its Subsidiaries to make, timely payment of all foreign, federal, state, and local taxes or assessments (other than taxes and assessments which Borrower is contesting pursuant to the terms of Section 5.9
hereof) and shall deliver to Bank, on demand, appropriate certificates attesting to such payments, and pay all amounts necessary to fund all present pension, profit sharing and deferred compensation plans in accordance with their terms. 

6.5 Insurance. Keep its business and the Collateral insured for risks and in amounts standard for companies in Borrower’s industry and
location and as Bank may reasonably request. Insurance policies shall be in a form, with companies, and in amounts that are satisfactory to Bank. All property policies shall have a lender’s loss payable endorsement showing Bank as the sole
lender loss payee and waive subrogation against Bank, and all liability policies shall show, or have endorsements showing, Bank as an additional insured. All policies (or the loss payable and additional insured endorsements) shall provide that the
insurer must give Bank at least twenty (20) days notice before canceling, amending, or declining to renew its policy. At Bank’s request, Borrower shall deliver certified copies of policies and evidence of all premium payments. Proceeds
payable under any policy shall, at Bank’s option, be payable to Bank on account of the Obligations. Notwithstanding the foregoing, (a)(x) so long as no Event of Default has occurred and is continuing, Borrower shall have the option of
applying the proceeds of any casualty policy up to $500,000, in the aggregate, toward the replacement or repair of destroyed or damaged property; provided that any such replaced or repaired property (i) shall be of equal or like value as the
replaced or repaired Collateral and (ii) shall be deemed Collateral in which Bank has been granted a first priority security interest, and (b)(y) after the occurrence and during the continuance of an Event of Default, all proceeds payable
under such casualty policy shall, at the option of Bank, be payable to Bank on account of the Obligations. If Borrower fails to obtain insurance as required under this Section 6.5 or to pay any amount or furnish any required proof of payment to
third persons and Bank, Bank may make all or part of such payment or obtain such insurance policies required in this Section 6.5, and take any action under the policies Bank deems prudent. 
 6.6 Operating Accounts. 
 (a) Maintain
its and its Subsidiaries’ primary depository and operating accounts and securities accounts with Bank and Bank’s affiliates, which accounts shall represent at least 90% of the dollar value of Borrower’s and such Subsidiaries accounts
at all financial institutions on an average daily basis for each month. 
 (b) Provide Bank five (5) days prior written notice before
establishing any Collateral Account at or with any bank or financial institution other than Bank or its Affiliates. In addition, for each Collateral Account that Borrower at any time maintains, Borrower shall cause the applicable bank or financial
institution (other than Bank) at or with which any Collateral Account is maintained to execute and deliver a Control Agreement or other appropriate instrument with respect to such Collateral Account to perfect Bank’s Lien in such Collateral
Account in accordance with the terms hereunder. The provisions of the previous sentence shall not apply to deposit accounts exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of
Borrower’s employees and identified to Bank by Borrower as such. 
 6.7 Financial Covenants. 
 Borrower shall maintain at all times, to be tested as of the last day of each month, on a consolidated basis with respect to Borrower and its
Subsidiaries: 
 (a) Adjusted Quick Ratio. A ratio of Quick Assets to Current Liabilities minus Deferred Revenue of at least 1.00 to
1.00. 
 (b) Tangible Net Worth. A Tangible Net Worth of at least $10,500,000, increasing on the first day of each quarter (commencing
on the first such date after the Effective Date) by an amount equal to 50% of positive quarterly Net Income and 75% of issuances of Equity after the Effective Date. 
  

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 6.8 Protection of Intellectual Property Rights. Borrower shall: (a) protect, defend and
maintain the validity and enforceability of its intellectual property; (b) promptly advise Bank in writing of material infringements of its intellectual property; and (c) not allow any intellectual property material to Borrower’s
business to be abandoned, forfeited or dedicated to the public without Bank’s written consent. 
 6.9 Litigation Cooperation.
From the date hereof and continuing through the termination of this Agreement, make available to Bank, without expense to Bank, Borrower and its officers, employees and agents and Borrower’s books and records, to the extent that Bank may deem
them reasonably necessary to prosecute or defend any third-party suit or proceeding instituted by or against Bank with respect to any Collateral or relating to Borrower; provided, however, that Bank shall use reasonable efforts to prevent such
litigation cooperation from materially disrupting or interfering with the operation of Borrower’s business. 
 6.10 Further
Assurances. Borrower shall execute any further instruments and take further action as Bank reasonably requests to perfect or continue Bank’s Lien in the Collateral or to effect the purposes of this Agreement. 
 7. NEGATIVE COVENANTS 
 Borrower shall not do any of the following without Bank’s prior written consent: 
 7.1 Dispositions. Convey, sell,
lease, transfer or otherwise dispose of (collectively, “Transfer”), or permit any of its Subsidiaries to Transfer, all or any part of its business or property, except for Transfers (a) of inventory in the ordinary course of business;
(b) of worn-out or obsolete Equipment; (c) in connection with Permitted Liens and Permitted investments; and (d) of non-exclusive licenses for the use of the property of Borrower or its Subsidiaries in the ordinary course of business.

 7.2 Changes in Business, Management, Control, or Business Locations. (a) Engage in or permit any of its Subsidiaries to engage
in any business other than the businesses currently engaged in by Borrower and such Subsidiary, as applicable, or reasonably related thereto; (b) liquidate or dissolve; or (c) (i) if the Key Person ceases to hold such office with
Borrower and replacements reasonably satisfactory to Bank are not made within ninety days after his departure from Borrower or (ii) prior to the later to occur of a Qualified Public Offering or a Stockholders Agreement Qualified Public
Offering, enter into any transaction or series of related transactions in which the stockholders of Borrower immediately prior to the first such transaction own less than 50% of the voting stock of Borrower immediately after giving effect to such
transaction or related series of such transactions (other than by the sale of Borrower’s equity securities in a public offering or to venture capital investors so long as Borrower identifies to Bank the venture capital investors prior to the
closing of the transaction), or (iii) following the later to occur of a Qualified Public Offering or a Stockholders Agreement Qualified Public Offering, permit or suffer any Change in Control. Borrower shall not, without at least thirty
(30) days prior written notice to Bank: (1) add any new offices or business locations, including warehouses (unless such new offices or business locations contain less than Two Hundred Fifty Thousand Dollars ($250,000) in Borrower’s
assets or property), (2) change its jurisdiction of organization, (3) change its organizational structure or type, (4) change its legal name, or (5) change any organizational number (if any) assigned by its jurisdiction of
organization. 
 7.3 Mergers or Acquisitions. Merge or consolidate, or permit any of its Subsidiaries to merge or consolidate, with
any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person. A Subsidiary may merge or consolidate into another Subsidiary or into Borrower. 
 7.4 Indebtedness. Create, incur, assume, or be liable for any Indebtedness, or permit any Subsidiary to do so, other than Permitted Indebtedness.

 7.5 Encumbrance. Create, incur, or allow any Lien on any of its property, or assign or convey any right to receive income,
including the sale of any Accounts, or permit any of its Subsidiaries to do so, except for Permitted Liens, permit any Collateral not to be subject to the first priority security 

  

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interest granted herein, or enter into any agreement, document, instrument or other arrangement (except with or in favor of Bank) with any Person which
directly or indirectly prohibits or has the effect of prohibiting Borrower or any Subsidiary from assigning, mortgaging, pledging, granting a security interest in or upon, or encumbering any of Borrower’s or any Subsidiary’s intellectual
property, except as is otherwise permitted in Section 7.1 hereof and the definition of “Permitted Lien” herein. 
 7.6
Maintenance of Collateral Accounts. Maintain any Collateral Account except pursuant to the terms of Section 6.6(b) hereof. 
 7.7
Distributions; Investments. (a) Directly or indirectly make any investment other than Permitted Investments, or permit any of its Subsidiaries to do so; or (b) pay any dividends or make any distribution or payment or redeem, retire or
purchase any capital stock; provided, however, that Borrower may exercise its right of first refusal as contemplated in Borrower’s Amended and Restated Stockholder’s Agreement, dated as of March 15, 2005, as amended from time to time,
so long as all of the following conditions are satisfied: (i) Borrower shall provide prior written notice thereof to the Bank; (ii) no Default or Event of Default then exists or would result therefrom; (iii) no Material Adverse Change
then exists or would result therefrom, and (iv) immediately after giving effect to any such repurchase, the Quick Ratio shall be greater than 1.50 to 1.00 (any such repurchase in accordance with all of the forgoing conditions being a
“Permitted Stock Repurchase”. 
 7.8 Transactions with Affiliates. Directly or indirectly enter into or permit to exist any
material transaction with any Affiliate of Borrower, except for transactions that are in the ordinary course of Borrower’s business, upon fair and reasonable terms that are no less favorable to Borrower than would be obtained in an arm’s
length transaction with a non-affiliated Person; except that Borrower may engage in a Permitted Stock Repurchase. 
 7.9 Subordinated
Debt. (a) Make or permit any payment on any Subordinated Debt, except under the terms of the subordination, intercreditor, or other similar agreement to which such Subordinated Debt is subject, or (b) amend any provision in any
document relating to the Subordinated Debt which would increase the amount thereof or adversely affect the subordination thereof to Obligations owed to Bank. 
 7.10 Compliance. Become an “investment company” or a company controlled by an “investment company”, under the Investment Company Act of 1940 or undertake as one of its important activities
extending credit to purchase or carry margin stock (as defined in Regulation U of the Board of Governors of the Federal Reserve System), or use the proceeds of any Credit Extension for that purpose; fail to meet the minimum funding requirements
of ERISA, permit a Reportable Event or Prohibited Transaction, as defined in ERISA, to occur; fail to comply with the Federal Fair Labor Standards Act or violate any other law or regulation, if the violation could reasonably be expected to have a
material adverse effect on Borrower’s business, or permit any of its Subsidiaries to do so; withdraw or permit any Subsidiary to withdraw from participation in, permit partial or complete termination of, or permit the occurrence of any other
event with respect to, any present pension, profit sharing and deferred compensation plan which could reasonably be expected to result in any liability of Borrower, including any liability to the Pension Benefit Guaranty Corporation or its
successors or any other governmental agency. 
 8. EVENTS OF DEFAULT 
 Any one of the following shall constitute an event of default (an “Event of Default”) under this Agreement: 
 8.1 Payment Default. Borrower falls to (a) make any payment of principal or interest on any Credit Extension on its due date, or (b) pay
any other Obligations within three (3) Business Days after such Obligations are due and payable. During the cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure
period); 
 8.2 Covenant Default 
 (a) Borrower fails or neglects to perform any obligation in Sections 6.2, 6.5, 6.6, 6.7 or violates any covenant in Section 7; or 
  

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 (b) Borrower fails or neglects to perform, keep, or observe any other term, provision, condition,
covenant or agreement contained in this Agreement, any Loan Documents, and as to any default (other than those specified in Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the
default within ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Borrower be cured within such ten
(10) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such
reasonable time period the failure to cure the default shall not be deemed an Event of Default (but no Credit Extensions shall be made during such cure period). Grace periods provided under this section shall not apply, among other things, to
financial covenants or any other covenants set forth in subsection (a) above; 
 8.3 Material Adverse Change. A Material Adverse
Change occurs; 
 8.4 Attachment. (a) Any material portion of Borrower’s assets is attached, seized, levied on, or comes
into possession of a trustee or receiver and the attachment, seizure or levy is not removed in ten (10) days; (b) the service of process upon Borrower seeking to attach, by trustee or similar process, any funds of Borrower on deposit with
Bank, or any entity under control of Bank (including a subsidiary); (c) Borrower is enjoined, restrained, or prevented by court order from conducting a material part of its business; (d) a judgment or other claim in excess of $250,000
becomes a Lien on any of Borrower’s assets; or (e) a notice of lien, levy, or assessment is filed against any of Borrower’s assets by any government agency and not paid within ten (10) days after Borrower receives notice. These
are not Events of Default if stayed or if a bond is posted pending contest by Borrower (but no Credit Extensions shall be made during the cure period); 
 8.5 Insolvency. (a) Borrower is unable to pay its debts (including trade debts) as they become due or otherwise becomes insolvent; (b) Borrower begins an Insolvency Proceeding; or (c) an
Insolvency Proceeding is begun against Borrower and not dismissed or stayed within thirty (30) days (but no Credit Extensions shall be made while of any of the conditions described in clause (a) exist and/or until any insolvency Proceeding
is dismissed); 
 8.6 Other Agreements. There is a default in any agreement to which Borrower or any Guarantor is a party with a third
party or parties resulting in a right by such third party or parties, whether or not exercised, to accelerate the maturity of any Indebtedness in an amount in excess of One Million Five Hundred Thousand Dollars ($1,500,000) (or such lesser amount as
would result in an “Event of Default” under the covenants set forth in Section 6.7 hereof, assuming that the amount of Indebtedness then accelerated or subject to acceleration was immediately paid by Borrower to the party entitled
thereto) or that would, or could reasonably be expected to, result in a Material Adverse Change with respect to Borrower or any Guarantor; 
 8.7 Judgments. A judgment or judgments for the payment of money in an amount, individually or in the aggregate, of at least Two Hundred Fifty Thousand Dollars ($250,000) (not covered by independent third-party insurance) shall be
rendered against Borrower and shall remain unsatisfied and unstayed for a period of ten (10) days after the entry thereof (provided that no Credit Extensions will be made prior to the satisfaction or stay of such judgment); 
 8.8 Misrepresentations. Borrower or any Person acting for Borrower makes any representation, warranty, or other statement now or later in this
Agreement, any Loan Document or in any writing delivered to Bank or to induce Bank to enter this Agreement or any Loan Document, and such representation, warranty, or other statement is incorrect in any material respect when made; 
 8.9 Subordinated Debt. A default or breach occurs under any agreement between Borrower and any creditor of Borrower that signed a subordination,
intercreditor, or other similar agreement with Bank, or any creditor that has signed such an agreement with Bank breaches any terms of such agreement; or 
 8.10 Guaranty. (a) Any guaranty of any Obligations terminates or ceases for any reason to be in full force and effect; (b) any Guarantor does not perform any obligation or covenant under any guaranty
of the Obligations; (c) any circumstance described in Sections 8.3, 8.4, 8.5, 8.7 or 8.8 occurs with respect to any Guarantor, (d) the liquidation, winding up, or termination of existence of any Guarantor; or (e) (i) a
material impairment in the perfection or priority of Bank’s Lien in the collateral provided by Guarantor or in the value of such collateral or (ii) a Material Adverse Change occurs with respect to any Guarantor. 
  

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 9. BANK’S RIGHTS AND REMEDIES 
 9.1 Rights and Remedies. While an Event of Default occurs and continues Bank may, without notice or demand, do any or all of the following:

 (a) declare all Obligations immediately due and payable (but if an Event of Default described in Section 8.5 occurs all Obligations
are immediately due and payable without any action by Bank); 
 (b) stop advancing money or extending credit for Borrower’s benefit
under this Agreement or under any other agreement between Borrower and Bank; 
 (c) demand that Borrower (i) deposits cash with Bank in
an amount equal to the aggregate amount of any Letters of Credit remaining undrawn, as collateral security for the repayment of any future drawings under such Letters of Credit, and Borrower shall forthwith deposit and pay such amounts, and
(ii) pay in advance all Letter of Credit fees scheduled to be paid or payable over the remaining term of any Letters of Credit; 
 (d)
terminate any FX Contracts; 
 (e) settle or adjust disputes and claims directly with Account Debtors for amounts on terms and in any order
that Bank considers advisable, notify any Person owing Borrower money of Bank’s security interest in such funds, and verify the amount of such account; 
 (f) make any payments and do any acts it considers necessary or reasonable to protect the Collateral and/or its security interest in the Collateral. Borrower shall assemble the Collateral if Bank requests and make it
available as Bank designates. Bank may enter premises where the Collateral is located, take and maintain possession of any part of the Collateral, and pay, purchase, contest, or compromise any Lien which appears to be prior or superior to its
security interest and pay all expenses incurred. Borrower grants Bank a license to enter and occupy any of its premises, without charge, to exercise any of Bank’s rights or remedies; 
 (g) apply to the Obligations any (i) balances and deposits of Borrower it holds, or (ii) any amount held by Bank owing to or for the credit or
the account of Borrower; 
 (h) ship, reclaim, recover, store, finish, maintain, repair, prepare for sale, advertise for sale, and sell the
Collateral. Bank is hereby granted a non-exclusive, royalty-free license or other right to use, without charge, Borrower’s labels, patents, copyrights, mask works, rights of use of any name, trade secrets, trade names, trademarks, service
marks, and advertising matter, or any similar property as it pertains to the Collateral, in completing production of, advertising for sale, and selling any Collateral and, in connection with Bank’s exercise of its rights under this Section,
Borrower’s rights under all licenses and all franchise agreements inure to Bank’s benefit; 
 (i) place a “hold” on any
account maintained with Bank and/or deliver a notice of exclusive control, any entitlement order, or other directions or instructions pursuant to any Control Agreement or similar agreements providing control of any Collateral; 
 (j) demand and receive possession of Borrower’s Books; and 
 (k) exercise all rights and remedies available to Bank under the Loan Documents or at law or equity, including all remedies provided under the Code (including disposal of the Collateral pursuant to the terms thereof).

  

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 9.2 Power of Attorney. Borrower hereby irrevocably appoints Bank as its lawful attorney-in-fact,
exercisable upon the occurrence and during the continuance of an Event of Default, to; (a) endorse Borrower’s name on any checks or other forms of payment or security; (b) sign Borrower’s name on any invoice or bill of lading for
any Account or drafts against Account Debtors; (c) settle and adjust disputes and claims about the Accounts directly with Account Debtors, for amounts and on terms Bank determines reasonable; (d) make, settle, and adjust all claims under
Borrower’s insurance policies; (e) pay, contest or settle any Lien, charge, encumbrance, security interest, and adverse claim in or to the Collateral, or any judgment based thereon, or otherwise take any action to terminate or discharge
the same; and (f) transfer the Collateral into the name of Bank or a third party as the Code permits. Borrower hereby appoints Bank as its lawful attorney-in-fact to sign Borrower’s name on any documents necessary to perfect or continue
the perfection of any security interest regardless of whether an Event of Default has occurred until all Obligations have been satisfied in full and Bank is under no further obligation to make Credit Extensions hereunder. Bank’s foregoing
appointment as Borrower’s attorney in fact, and all of Bank’s rights and powers, coupled with an interest, are irrevocable until all Obligations have been fully repaid and performed and Bank’s obligation to provide Credit Extensions
terminates. 
 9.3 Accounts Verification; Collection. Whether or not an Event of Default has occurred and is continuing, Bank may
notify any Person party to any Purchase Order or owing Borrower money of Bank’s security interest in such funds and verify the amount of such Purchase Order or account. After the occurrence of an Event of Default, any amounts received by
Borrower shall be held in trust by Borrower for Bank, and, if requested by Bank, Borrower shall immediately deliver such receipts to Bank in the form received from the Account Debtor, with proper endorsements for deposit. Bank may, in its good faith
business judgment, require that all proceeds of Accounts be deposited by Borrower into a lockbox account, or such other “blocked account”, as Bank may specify, pursuant to a blocked account agreement in such form as Bank may specify in its
good faith business judgment. 
 9.4 Protective Payments. If Borrower fails to obtain the insurance called for by Section 6.5 or
fails to pay any premium thereon or fails to pay any other amount which Borrower is obligated to pay under this Agreement or any other Loan Document, Bank may obtain such insurance or make such payment, and all amounts so paid by Bank are Bank
Expenses and immediately due and payable, bearing interest at the then highest applicable rate, and secured by the Collateral. Bank will make reasonable efforts to provide Borrower with notice of Bank obtaining such insurance at the time it is
obtained or within a reasonable time thereafter. No payments by Bank are deemed an agreement to make similar payments in the future or Bank’s waiver of any Event of Default. 
 9.5 Application of Payments and Proceeds. Unless an Event of Default has occurred and is continuing, Bank shall apply any funds in its possession,
whether from Borrower account balances, payments, or proceeds realized as the result of any collection of Accounts or Purchase Orders or other disposition of the Collateral, first, to Bank Expenses, including without limitation, the reasonable
costs, expenses, liabilities, obligations and attorneys’ fees incurred by Bank in the exercise of its rights under this Agreement; second, to the interest due upon any of the Obligations; and third, to the principal of the Obligations and any
applicable fees and other charges, in such order as Bank shall determine in its sole discretion. Any surplus shall be paid to Borrower or other Persons legally entitled thereto; Borrower shall remain liable to Bank for any deficiency. If an Event of
Default has occurred and is continuing, Bank may apply any funds in its possession, whether from Borrower account balances, payments, proceeds realized as the result of any collection of Accounts or Purchase Orders or other disposition of the
Collateral, or otherwise, to the Obligations in such order as Bank shall determine in its sole discretion. Any surplus shall be paid to Borrower or other Persons legally entitled thereto; Borrower shall remain liable to Bank for any deficiency. If
Bank, in its good faith business judgment, directly or indirectly enters into a deferred payment or other credit transaction with any purchaser at any sale of Collateral, Bank shall have the option, exercisable at any time, of either reducing the
Obligations by the principal amount of the purchase price or deferring the reduction of the Obligations until the actual receipt by Bank of cash therefor. 
 9.6 Bank’s Liability for Collateral. So long as Bank complies with reasonable banking practices regarding the safekeeping of the Collateral in the possession or under the control of Bank, Bank shall not be
liable or responsible for: (a) the safekeeping of the Collateral; (b) any loss or damage to the Collateral; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or
other Person. Borrower bears all risk of loss, damage or destruction of the Collateral, so long as Bank complies with the above referenced standard. 
  

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 9.7 No Waiver; Remedies Cumulative. Bank’s failure, at any time or times, to require strict
performance by Borrower of any provision of this Agreement or any other Loan Document shall not waive, affect, or diminish any right of Bank thereafter to demand strict performance and compliance herewith or therewith. No waiver hereunder shall be
effective unless signed by Bank and then is only effective for the specific instance and purpose for which it is given. Bank’s rights and remedies under this Agreement and the other Loan Documents are cumulative. Bank has all rights and
remedies provided under the Code, by law, or in equity. Bank’s exercise of one right or remedy is not an election, and Bank’s waiver of any Event of Default is not a continuing waiver. Bank’s delay in exercising any remedy is not a
waiver, election, or acquiescence. 
 9.8 Demand Waiver. Borrower waives demand, notice of default or dishonor, notice of payment and
nonpayment, notice of any default, nonpayment at maturity, release, compromise, settlement, extension, or renewal of accounts, documents, instruments, chattel paper, and guarantees held by Bank on which Borrower is liable. 
 10. NOTICES 
 All notices,
consents, requests, approvals, demands, or other communication (collectively, “Communication”) by any party to this Agreement or any other Loan Document must be in writing and shall be deemed to have been validly served, given, or
delivered: (a) upon the earlier of actual receipt and five (5) Business Days after deposit in the U.S. mail, first class, registered or certified mail return receipt requested, with proper postage prepaid; (b) upon transmission, when
sent by electronic mail or facsimile transmission; (c) one (1) Business Day after deposit with a reputable overnight courier with all charges prepaid; or (d) when delivered, if hand-delivered by messenger, all of which shall be
addressed to the party to be notified and sent to the address, facsimile number, or email address indicated below. Bank or Borrower may change its address or facsimile number by giving the other party written notice thereof in accordance with the
terms of this Section 10. 
  

			
	If to Borrower:	  	Intellon Corporation
		  	[Address]
	
	With a copy (which shall not constitute notice, and the failure of which to provide will not invalidate any notice to Borrower)
		
		  	Nixon Peabody LLP
		  	 [Address]

		
	If to Bank:	  	Silicon Valley Bank
		  	 [Address]

 11. CHOICE OF LAW, VENUE AND JURY TRIAL WAIVER 
 (a) Choice Of Law. Georgia law governs the Loan Documents without regard to principles of conflicts of law. Borrower and Bank each submit to the
exclusive jurisdiction of the State and Federal courts in Fulton County, Georgia or Santa Clara County, California; provided, however, that 

  

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nothing in this Agreement shall be deemed to operate to preclude Bank from bringing suit or taking other legal action in any other jurisdiction to realize on
the Collateral or any other security for the Obligations, or to enforce a judgment or other court order in favor of Bank. Borrower expressly submits and consents in advance to such jurisdiction in any action or suit commenced in any such court, and
Borrower hereby waives any objection that it may have based upon lack of personal jurisdiction, improper venue, or forum non conveniens and hereby consents to the granting of such legal or equitable relief as is deemed appropriate by such court.
Borrower hereby waives personal service of the summons, complaints, and other process issued in such action or suit and agrees that service of such summons, complaints, and other process may be made by registered or certified mail addressed to
Borrower at the address set forth in Section 10 of this Agreement and that service so made shall be deemed completed upon the earlier to occur of Borrower’s actual receipt thereof or five (5) days after deposit in the U.S. mails,
proper postage prepaid. 
 (b) WAIVER OF TRIAL BY JURY. BORROWER AND BANK EACH WAIVE ITS RIGHT TO A JURY TRIAL OF ANY CLAIM OR
CAUSE OF ACTION ARISING OUT OF OR BASED UPON THIS AGREEMENT, THE LOAN DOCUMENTS OR ANY CONTEMPLATED TRANSACTION, INCLUDING CONTRACT, TORT, BREACH OF DUTY AND ALL OTHER CLAIMS. THIS WAIVER IS A MATERIAL INDUCEMENT FOR BOTH PARTIES TO ENTER INTO THIS
AGREEMENT. EACH PARTY HAS REVIEWED THIS WAIVER WITH ITS COUNSEL. 
 12. GENERAL PROVISIONS 
 12.1 Successors and Assigns. This Agreement binds and is for the benefit of the successors and permitted assigns of each party. Borrower may not
assign this Agreement or any rights or obligations under it without Bank’s prior written consent (which may be granted or withheld in Bank’s discretion). Bank has the right, without the consent of or notice to Borrower, to sell, transfer,
negotiate, or grant participation in all or any part of, or any interest in, Bank’s obligations, rights, and benefits under this Agreement and the other Loan Documents. 
 12.2 Indemnification. Borrower agrees to indemnify, defend and hold Bank and its directors, officers, employees, agents, attorneys, or any other
Person affiliated with or representing Bank harmless against: (a) all obligations, demands, claims, and liabilities (collectively, “Claims”) asserted by any other party in connection with the transactions contemplated by the Loan
Documents; and (b) all losses or Bank Expenses incurred, or paid by Bank from, following, or arising from transactions between Bank and Borrower (including reasonable attorneys’ fees and expenses), except for Claims and/or losses directly
caused by Bank’s gross negligence or willful misconduct. 
 12.3 Limitation of Actions. Any claim or cause of action by Borrower
against Bank, its directors, officers, employees, agents, accountants, attorneys, or any other Person affiliated with or representing Bank based upon, arising from, or relating to this Loan Agreement or any other Loan Document, or any other
transaction contemplated hereby or thereby or relating hereto or thereto, or any other matter, cause or thing whatsoever, occurred, done, omitted or suffered to be done by Bank, its directors, officers, employees, agents, accountants or attorneys,
shall be barred unless asserted by Borrower by the commencement of an action or proceeding in a court of competent jurisdiction by the filing of a complaint within one year after the first act, occurrence or omission upon which such claim or cause
of action, or any part thereof, is based (or, solely in the case of any such action or proceeding alleging fraud on the part of Bank, its directors, officers, employees, agents, accountants, attorneys or other affiliated Person, within one year
after the time Borrower discovered such alleged fraud, or could have with reasonable diligence discovered such alleged fraud), and the service of a summons and complaint on an officer of Bank, or on any other person authorized to accept service on
behalf of Bank, within thirty (30) days thereafter. Borrower agrees that such one-year period is a reasonable and sufficient time for Borrower to investigate and act upon any such claim or cause of action. The one-year period provided herein
shall not be waived, tolled, or extended except by the written consent of Bank in its sole discretion. This provision shall survive any termination of this Loan Agreement or any other Loan Document. 
 12.4 Time of Essence. Time is of the essence for the performance of all Obligations in this Agreement. 
  

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 12.5 Severability of Provisions. Each provision of this Agreement is severable from every other
provision in determining the enforceability of any provision. 
 12.6 Amendments in Writing; Integration. All amendments to this
Agreement must be in writing signed by both Bank and Borrower. This Agreement and the Loan Documents represent the entire agreement about this subject matter and supersede prior negotiations or agreements. All prior agreements, understandings,
representations, warranties, and negotiations between the parties about the subject matter of this Agreement and the Loan Documents merge into this Agreement and the Loan Documents. 
 12.7 Counterparts. This Agreement may be executed in any number of counterparts and by different parties on separate counterparts, each of which,
when executed and delivered, are an original, and all taken together, constitute one Agreement. 
 12.8 Survival. All covenants,
representations and warranties made in this Agreement continue in full force until this Agreement has terminated pursuant to its terms and all Obligations (other than inchoate indemnity obligations and any other obligations which, by their terms,
are to survive the termination of this Agreement) have been satisfied. The obligation of Borrower in Section 12.2 to indemnify Bank shall survive until the statute of limitations with respect to such claim or cause of action shall have run.

 12.9 Confidentiality. All information of the Borrower or its Subsidiaries received by Bank from Borrower or any of its Subsidiaries
and designated in writing as confidential information (“Confidential Information”) will be held in confidence by Bank to the same extent and under the same conditions as Bank treats its own proprietary and confidential information
and will not be distributed or disclosed by Bank to any third party or used by Bank for any purpose after the date of disclosure of such Confidential Information other than in connection with Bank’s commercial relationship with the Borrower and
its Subsidiaries pursuant to this Agreement (such use, “Permitted Use”); provided however; that Bank may disclose Confidential Information or portions thereof to its directors, officers, employees, representatives or advisors
in connection with any Permitted Use, so long as Bank advises such persons of the confidential nature thereof; provided, further, that “Confidential Information” for purposes of this Agreement does not include information that
(i) is either in Bank’s possession or publicly available to Bank prior to the disclosure of such information by Borrower or any Subsidiary; (ii) subsequent to its disclosure, becomes publicly available to Bank without the violation of
this Agreement by Bank; (iii) becomes available to Bank on a non-confidential basis from any third party; (iv) is independently acquired or developed by Bank; (v) is believed by Bank to be required to be disclosed by Bank pursuant to
law or by order of a court, pursuant to the requirements of a stock exchange or other governmental or regulatory bode, for enforcement of this Agreement or to obtain tax or other clearances or consent from any relevant authority; or (vi) is
explicitly approved for release by Borrower. 
 12.10 Attorneys’ Fees, Costs and Expenses. In any action or proceeding between
Borrower and Bank arising out of or relating to the Loan Documents, the prevailing party shall be entitled to recover its reasonable attorneys’ fees and other costs and expenses incurred, in addition to any other relief to which it may be
entitled. 
 13. DEFINITIONS 
 13.1 Definitions. As used in this Agreement, the following terms have the following meanings: 
 “Account” is any “account” as defined in the Code with such additions to such term as may hereafter be made, and includes, without limitation, all accounts receivable and other sums owing to Borrower. 

“Account Debtor” is any “account debtor” as defined in the Code with such additions to such term as may hereafter be made.

 “Advance” or “Advances” means an advance (or advances) under the Revolving Line. 
 “Affiliate” of any Person is a Person that owns or controls directly or indirectly the Person, any Person that controls or is controlled
by or is under common control with the Person, and each of that Person’s senior executive officers, directors, partners and, for any Person that is a limited liability company, that Person’s managers and members. 
  

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 “Agreement” is defined in the preamble hereof. 
 “Availability Amount” is (a) the lesser of (i) the Revolving Line or (ii) the Borrowing Base minus (b) the amount of
all outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit) plus an amount equal to the Letter of Credit Reserves, minus (c) the FX Reserve, and minus (d) the outstanding principal balance of any Advances
(including any amounts used for Cash Management Services); provided, however, that following a Qualified Public Offering, and so long as Borrower maintains ah Adjusted Quick Ratio of 2.0 to 1.0 or greater, the “Availability Amount shall be
determined solely be reference to the Revolving Line, without regard to the Borrowing Base, and otherwise as set forth herein. 
 “Bank” is defined in the preamble hereof. 
 “Bank Expenses” are all audit fees and expenses,
costs, and expenses (including reasonable attorneys’ fees and expenses) for preparing, negotiating, administering, defending and enforcing the Loan Documents (including, without limitation, those incurred in connection with appeals or
Insolvency Proceedings) or otherwise incurred with respect to Borrower. 
 “Borrower” is defined in the preamble hereof.

 “Borrower’s Books” are all Borrower’s books and records including ledgers, federal and state tax returns,
records regarding Borrower’s assets or liabilities, the Collateral, business operations or financial condition, and all computer programs or storage or any equipment containing such information. 
 “Borrowing Base” is (a) 80% of Eligible Accounts plus (b) the lesser of 50% of the value of Eligible Purchase Orders or
$2,000,000, as determined by Bank from Borrower’s most recent Borrowing Base Certificate; provided, however, that Bank may decrease the foregoing percentages in its good faith business judgment based on events, conditions, contingencies, or
risks which, as determined by Bank, may adversely affect Collateral; provided, further, that Borrower may only request Advances in respect of Eligible Purchase Orders so long as Borrower’s Adjusted Quick Ratio is greater than 1.25:1.00.

 “Borrowing Base Certificate” is that certain certificate in the form attached hereto as Exhibit C.

 “Borrowing Resolutions” are, with respect to any Person, those resolutions adopted by such Person’s Board of
Directors and delivered by such Person to Bank approving the Loan Documents to which such Person is a party and the transactions contemplated thereby, together with a certificate executed by its secretary on behalf of such Person certifying that
(a) such Person has the authority to execute, deliver, and perform its obligations under each of the Loan Documents to which it is a party, (b) that attached as Exhibit A to such certificate is a true, correct, and complete copy of
the resolutions then in full force and effect authorizing and ratifying the execution, delivery, and performance by such Person of the Loan Documents to which it is a party, (c) the name(s) of the Person(s) authorized to execute the Loan
Documents on behalf of such Person, together with a sample of the true signature(s) of such Person(s), and (d) that Bank may conclusively rely on such certificate unless and until such Person shall have delivered to Bank a further certificate
canceling or amending such prior certificate. 
 “Business Day” is any day that is not a Saturday, Sunday or a day on which
Bank is closed. 
 “Cash Equivalents” means (a) marketable direct obligations issued or unconditionally guaranteed by
the United States or any agency or any State thereof having maturities of not more than one (1) year from the date of acquisition; (b) commercial paper maturing no more than one (1) year after its creation and having the highest
rating from either Standard & Poor’s Ratings Group or Moody’s Investors Service, Inc., (c) Bank’s certificates of deposit issued maturing no more than one (1) year after issue; and (d) money market funds at
least ninety-five percent (95%) of the assets of which constitute Cash Equivalents of the kinds described in clauses (a) through (c) of this definition. 
 “Cash Management Services” is defined in Section 2.1.4. 
 “Cash Management
Services Sublimit” is defined in Section 2.1.4. 
 “Change in Control” means any event, transaction, or
occurrence as a result of which (a) any “person” (as such term is defined in Sections 3(a)(9) and 13(d)(3) of the Securities Exchange Act of 1934, as an amended (the “Exchange Act”)), other than a trustee or
other fiduciary holding securities under an employee benefit plan of Borrower, is or becomes a beneficial owner (within the meaning Rule 13d-3 

  

 -18- 

 
promulgated under the Exchange Act), directly or indirectly, of securities of Borrower, representing twenty-five percent (25%) or more of the combined
voting power of Borrower’s then outstanding securities; or (b) during any period of twelve consecutive calendar months, individuals who at the beginning of such period constituted the Board of Directors of Borrower (together with any new
directors whose election by the Board of Directors of Borrower was approved by a vote of at least two-thirds of the directors then still in office who either were directions at the beginning of such period or whose election or nomination for
election was previously so approved) cease for any reason other than death or disability to constitute a majority of the directors then in office. 
 “Code” is the Uniform Commercial Code, as the same may, from time to time, be enacted and in effect in the State of Georgia; provided, that, to the extent that the Code is used to define any term herein or in any Loan
Document and such term is defined differently in different Articles or Divisions of the Code, the definition of such term contained in Article or Division 9 shall govern; provided further, that in the event that, by reason of mandatory
provisions of law, any or all of the attachment, perfection, or priority of, or remedies with respect to, Bank’s Lien on any Collateral is governed by the Uniform Commercial Code in effect in a Jurisdiction other than the State of Georgia, the
term “Code” shall mean the Uniform Commercial Code as enacted and in effect in such other jurisdiction solely for purposes on the provisions thereof relating to such attachment, perfection, priority, or remedies and for purposes of
definitions relating to such provisions. 
 “Collateral” is any and all properties, rights and assets of Borrower described
on Exhibit A. 
 “Collateral Account” is any Deposit Account, Securities Account, or Commodity Account.

 “Committed Availability” means, as the date of determination, an amount equal to the sum of the Revolving Line plus the
Reducing Revolving Line minus all outstanding Credit Extensions. 
 “Commodity Account” is any “commodity account”
as defined in the Code with such additions to such term as may hereafter be made. 
 “Communication” is defined in
Section 10. 
 “Compliance Certificate” is that certain certificate in the form attached hereto as
Exhibit E. 
 “Contingent Obligation” is, for any Person, any direct or indirect liability, contingent or not,
of that Person for (a) any indebtedness, lease, dividend, letter of credit or other obligation of another such as an obligation directly or indirectly guaranteed, endorsed, co-made, discounted or sold with recourse by that Person, or for which
that Person is directly or indirectly liable; (b) any obligations for undrawn letters of credit for the account of that Person; and (c) all obligations from any interest rate, currency or commodity swap agreement, interest rate cap or
collar agreement, or other agreement or arrangement designated to protect a Person against fluctuation in interest rates, currency exchange rates or commodity prices; but “Contingent Obligation” does not include endorsements in the
ordinary course of business. The amount of a Contingent Obligation is the stated or determined amount of the primary obligation for which the Contingent Obligation is made or, if not determinate, the maximum reasonably anticipated liability for it
determined by the Person in good faith; but the amount may not exceed the maximum of the obligations under any guarantee or other support arrangement. 
 “Control Agreement” is any control agreement entered into among the depository institution at which Borrower maintains a Deposit Account or the securities intermediary or commodity intermediary at
which Borrower maintains a Securities Account or a Commodity Account, Borrower, and Bank pursuant to which Bank obtains control (within the meaning of the Code) over such Deposit Account, Securities Account, or Commodity Account. 
 “Credit Extension” is any Advance, Reducing Facility Advance, Letter of Credit, FX Forward Contract, amount utilized for Cash Management
Services, or any other extension of credit by Bank for Borrower’s benefit. 
 “Current Liabilities” are all obligations
and liabilities of Borrower to Bank, plus, without duplication, the aggregate amount of Borrower’s Total Liabilities that mature within one (1) year. 
 “Default” means any event which with notice or passage of time or both, would constitute an Event of Default. 
 “Default Rate” is defined in Section 2.3(b). 
  

 -19- 

 “Deferred Revenue” is all amounts received or invoiced in advance of performance under
contracts and not yet recognized as revenue. 
 “Deposit Account” is any “deposit account” as defined in the Code
with such additions to such term as may hereafter be made. 
 “Designated Deposit Account” is Borrower’s deposit
account, account number                     , maintained with Bank. 
 “Dollars,” “dollars” and “$” each mean lawful money of the United States. 
 “Domestic Subsidiary” means a Subsidiary organized under the laws of the United States or any state or territory thereof or the District
of Columbia. 
 “Effective Date” is the date Bank executes this Agreement and as indicated on the signature page hereof.

 “Eligible Accounts” are Accounts which arise in the ordinary course of Borrower’s business that meet all
Borrower’s representations and warranties in Section 5.3. Bank reserves the right at any time and from time to time after the Effective Date, to adjust any of the criteria set forth below and to establish new criteria in its good faith
business judgment. Unless Bank agrees otherwise in writing, Eligible Accounts shall not include: 
 (a) Accounts that the Account Debtor has
not paid within ninety (90) days of invoice date; 
 (b) Accounts owing from an Account Debtor, fifty percent (50%) or more of
whose Accounts have not been paid within ninety (90) days of invoice date; 
 (c) Credit balances over ninety (90) days from
invoice date; 
 (d) Accounts owing from an Account Debtor, including Affiliates, whose total obligations to Borrower exceed twenty-five
(25%) of all Accounts, except for Lumax International and Universal Electronic, for which such percentage is thirty five percent (35%) for the amounts that exceed that percentage, unless Bank approves in writing; 
 (e) Accounts owing from an Account Debtor which does not have its principal place of business in the United States except for Eligible Foreign Accounts;

 (f) Accounts owing from an Account Debtor which is a federal, state or local government entity or any department, agency, or
instrumentality thereof except for Accounts of the United States if Borrower has assigned its payment rights to Bank and the assignment has been acknowledged under the Federal Assignment of Claims Act of 1940, as amended; 
 (g) Accounts owing from an Account Debtor to the extent that Borrower is indebted or obligated in any manner to the Account Debtor (as creditor, lessor,
supplier or otherwise - sometimes called “contra” accounts, accounts payable, customer deposits or credit accounts), with the exception of customary credits, adjustments and/or discounts given to an Account Debtor by Borrower in the
ordinary course of its business; 
 (h) Accounts for demonstration or promotional equipment, or in which goods are consigned, or sold on a
“sale guaranteed”, “sale or return”, “sale on approval”, “bill and hold”, or other terms if Account Debtor’s payment may be conditional; 
 (i) Accounts for which the Account Debtor is Borrower’s Affiliate, officer, employee, or agent; 
 (j) Accounts in which the Account Debtor disputes liability or makes any claim (but only up to the disputed or claimed amount), or if the Account Debtor
is subject to an Insolvency Proceeding, or becomes insolvent, or goes out of business; 
 (k) Accounts owing from an Account Debtor with
respect to which Borrower has received deferred revenue (but only to the extent of such deferred revenue); 
  

 -20- 

 (l) Accounts for which Bank in its good faith business Judgment determines collection to be doubtful; and

 (m) other Accounts Bank deems ineligible in the exercise of its good faith business judgment. 
 “Eligible Foreign Accounts” are Accounts for which the Account Debtor does not have its principal place of business in the United States
but are otherwise Eligible Accounts that are (a) covered by credit insurance satisfactory to Bank, less any deductible; (b) supported by letter(s) of credit acceptable to Bank; (c) denominated in U.S. Dollars and billed and collected
in the United States; or (d) that Bank approves in writing. 
 “Eligible Purchase Orders” are signed and accepted
Purchase Orders received in the ordinary course of Borrower’s business that meet all Borrower’s representations and warranties in Section 5.3, and will result in the creation of an Eligible Account due and owing from Account Debtors
deemed creditworthy by Bank in its good faith business judgment. Without limiting the fact that the determination of which Purchase Orders are eligible hereunder is a matter of good faith business judgment of the Bank in each instance, Eligible
Purchase Order shall not include the following Purchase Orders (which listing may be amended or changed in Bank’s good faith business judgment): 
 (a) Purchase Orders not due for shipment and invoicing within ninety (90) days; 
 (b) Purchase Orders
that that are cancelable; 
 (c) Purchase Orders which, when shipped and invoiced, would not be an Eligible Account; 
 (d) Purchase Orders for which Borrower owes the Account Debtor, but only up to the amount owed (sometimes called “contra” accounts, accounts
payable, customer deposits or credit accounts); 
 (e) Purchase Orders which Bank deems ineligible for any reason in its good faith business
judgment. 
 “Equipment” is all “equipment” as defined in the Code with such additions to such term as may
hereafter be made, and includes without limitation all machinery, fixtures, goods, vehicles (including motor vehicles and trailers), and any interest in any of the foregoing. 
 “ERISA” is the Employment Retirement Income Security Act of 1974, and its regulations. “Event of Default” is defined in
Section 8. 
 “Foreign Currency” means lawful money of a country other than the United States. “Foreign
Subsidiary” means any Subsidiary which is not a Domestic Subsidiary. 
 “Funding Date” is any date on which a
Credit Extension is made to or on account of Borrower which shall be a Business Day. 
 “FX Business Day” is any day when
(a) Bank’s Foreign Exchange Department is conducting its normal business and (b) the Foreign Currency being purchased or sold by Borrower is available to Bank from the entity from which Bank shall buy or sell such Foreign Currency.

 “FX Forward Contract” is defined in Section 2.1.3. 
 “FX Reserve” is defined in Section 2.1.3. 
 “GAAP” is generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and
statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other Person as may be approved by a significant segment of the accounting profession, which are applicable to the circumstances as of the
date of determination. 
 “General Intangibles” is all “general intangibles” as defined in the Code in effect on
the date hereof with such additions to such term as may hereafter be made, and includes without limitation, all copyright rights, copyright applications, copyright registrations and like protections in each work of authorship and derivative work,
whether published or unpublished, any patents, trademarks, service marks and, to the extent permitted under applicable law, any applications therefor, whether registered or not, any trade secret rights, including any rights to unpatented inventions,
payment intangibles, royalties, contract rights, goodwill, franchise agreements, purchase orders, customer lists, route lists, telephone numbers, domain names, claims, income and other tax refunds, security and other deposits, options to 

  

 -21- 

 
purchase or sell real or personal property, rights in all litigation presently or hereafter pending (whether in contract, tort or otherwise), insurance
policies (including without limitation key man, property damage, and business interruption insurance), payments of insurance and rights to payment of any kind. 
 “Guarantor” is any present or future guarantor of the Obligations (and for purposes hereof, it is understood and agreed that Intellon Canada Inc. shall not be a Guarantor). 
 “Indebtedness” is (a) indebtedness for borrowed money or the deferred price of property or services, such as reimbursement and
other obligations for surety bonds and letters of credit, (b) obligations evidenced by notes, bonds, debentures or similar instruments, (c) capital tease obligations, and (d) Contingent Obligations. 
 “Insolvency Proceeding” is any proceeding by or against any Person under the United States Bankruptcy Code, or any other bankruptcy or
insolvency law, including assignments for the benefit of creditors, compositions, extensions generally with its creditors, or proceedings seeking reorganization, arrangement, or other relief. 
 “Inventory” is all “inventory” as defined in the Code in effect on the date hereof with such additions to such term as may
hereafter be made, and includes without limitation all merchandise, raw materials, parts, supplies, packing and shipping materials, work in process and finished products, including without limitation such inventory as is temporarily out of
Borrower’s custody or possession or in transit and including any returned goods and any documents of title representing any of the above. 
 “Investment” is any beneficial ownership interest in any Person (including stock, partnership interest or other securities), and any loan, advance or capital contribution to any Person. 
 “Key Person” is Borrower’s Chief Executive Officer who is, as of the Effective Date, Charles E. Harris. 
 “Knowledge”, when used with respect to any fact or circumstance, means that the subject person either has actual knowledge, or that such
person should have reasonably known (given that person’s duties and responsibilities as an officer of the Borrower, as such duties and responsibilities then exist at the time such knowledge is measured), of such fact or circumstance.

 “Letter of Credit” means a standby letter of credit issued by Bank or another institution based upon an application,
guarantee, indemnity or similar agreement on the part of Bank as set forth in Section 2.1.2. 
 “Letter of Credit
Application” is defined in Section 2.1.1(a). 
 “Letter of Credit Reserve” has the meaning set forth in
Section 2.1.2(d). 
 “LIBOR Rate” has the meaning set forth in the LIBOR Supplement. 
 “LIBOR Supplement” means that certain LIBOR Supplement to Loan Agreement, dated as of the date hereof, by and between the Borrower and
the Bank. 
 “Lien” is a mortgage, lien, deed of trust, charge, pledge, security interest or other encumbrance. 

“Loan Documents” are, collectively, this Agreement, the Perfection Certificate, any note, or notes or guaranties executed by Borrower
or any Guarantor, and any other present or future agreement between Borrower any Guarantor and/or for the benefit of Bank in connection with this Agreement, all as amended, restated, or otherwise modified. 
 “Material Adverse Change” is (a) a material impairment in the perfection or priority of Bank’s Lien in the Collateral or in
the value of such Collateral; (b) a material adverse change in the business, operations, or condition (financial or otherwise) of Borrower; or (c) a material impairment of the prospect of repayment of any portion of the Obligations.

 “Minimum Quarterly Interest” is an amount equal to $20,000. 
 “Net Income” means, as calculated on a consolidated basis for Borrower and its Subsidiaries for any period as at any date of
determination, the net profit (or loss), after provision for taxes, of Borrower and its Subsidiaries for such period taken as a single accounting period. 
 “Obligations” are Borrower’s obligation to pay when due any debts, principal, interest, Bank Expenses and other amounts Borrower owes Bank now or later, whether under this Agreement, the Loan
Documents, or otherwise, including, without limitation, all obligations relating to letters of credit, cash 

  

 -22- 

 
management services, and foreign exchange contracts, if any, and including interest accruing after Insolvency Proceedings begin and debts, liabilities, or
obligations of Borrower assigned to Bank, and the performance of Borrower’s duties under the Loan Documents. 
 “Operating
Documents” are, for any Person, such Person’s formation documents, as certified with the Secretary of State of such Person’s state of formation on a date that is no earlier than 30 days prior to the Effective Date, and,
(a) if such Person is a corporation, its bylaws in current form, (b) if such Person is a limited liability company, its limited liability company agreement (or similar agreement), and (c) if such Person is a partnership, its
partnership agreement (or similar agreement), each of the foregoing with all current amendments or modifications thereto. 
 “Payment/Advance Form” is that certain form attached hereto as Exhibit B. 
 “Perfection
Certificate” is defined in Section 5.1. 
 “Permitted Indebtedness” is: 
 (a) Borrower’s Indebtedness to Bank under this Agreement and the other Loan Documents; 
 (b) Indebtedness existing on the Effective Date and shown on the Perfection Certificate; 
 (c) Subordinated Debt; 
 (d) unsecured
Indebtedness to trade creditors and with respect to surety bonds and similar obligations incurred in the ordinary course of business; 
 (e)
Indebtedness incurred as a result of endorsing negotiable instruments received in the ordinary course of business; 
 (f) Indebtedness in an
aggregate principal amount not to exceed $1,500,000 secured by Permitted Liens; 
 (i) extensions, refinancings, modifications, amendments
and restatements of any items of Permitted Indebtedness (a) through (f) above, provided that the principal amount thereof is not increased or the terms thereof are not modified to impose more burdensome terms upon Borrower or its
Subsidiary, as the case may be. 
 “Permitted Investments” are: 
 (a) Investments shown on the Perfection Certificate and existing on the Effective Date; 
 (b) Cash Equivalents; 
 (c) Investments
consisting of the endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of Borrower; 
 (d) Investments consisting of deposit accounts in which Bank has a perfected security interest; 
 (e) Investments accepted in
connection with Transfers permitted by Section 7.1; 
 (f) Investments by Borrower (i) in Intellon Canada Inc. (“ICI”) in
the ordinary course of business and pursuant to the Research and Development Agreement between Borrower and ICI in an amount not to exceed $10,000,000 in the aggregate in any fiscal year, and (ii) Investments by Borrower in any Subsidiaries
that are Guarantors in an aggregate amount not to exceed $5,000,000 in any fiscal year; 
 (g) Investments consisting of (i) travel
advances and employee relocation loans and other employee loans and advances in the ordinary course of business, and (ii) loans to employees, officers or directors relating to the purchase of equity securities of Borrower or its Subsidiaries
pursuant to employee stock purchase plans or agreements approved by Borrower’s Board of Directors; 
  

 -23- 

 (h) Investments (including debt obligations) received in connection with the bankruptcy or reorganization
of customers or suppliers and in settlement of delinquent obligations of, and other disputes with, customers or suppliers arising in the ordinary course of business; 
 (i) Investments consisting of notes receivable of, or prepaid royalties and other credit extensions to, customers and suppliers who are not Affiliates, in the ordinary course of business; provided that this
paragraph (i) shall not apply to investments of Borrower in any Subsidiary; 
 “Permitted Liens” are: 
 (a) Liens existing on the Effective Date and shown on the Perfection Certificate or arising under this Agreement and the other Loan Documents; 

(b) Liens for taxes, fees, assessments or other government charges or levies, either not delinquent or being contested in good faith and for which
Borrower maintains adequate reserves on its Books, if they have no priority over any of Bank’s Liens on any Collateral included the Borrowing Base or any proceeds thereof; 
 (c) purchase money Liens (i) on Equipment acquired or held by Borrower incurred for financing the acquisition of the Equipment securing no more than
$1,500,000 in the aggregate amount outstanding, or (ii) existing on Equipment when acquired, if the Lien is confined to the property and improvements and the proceeds of the Equipment; 
 (d) statutory Liens securing claims or demands of materialmen, mechanics, carriers, warehousemen, landlords and other Persons imposed without action of
such parties, provided, they have no priority over any of Bank’s Lien in any Collateral included in the Borrowing Base and the aggregate amount of such Liens does not at any time exceed $100,000; 
 (e) Liens to secure payment of workers’ compensation, employment insurance, old-age pensions, social security and other like obligations incurred in
the ordinary course of business, provided, they have no priority over any of Bank’s Liens in any Collateral included in the Borrowing Base and the aggregate amount of the Indebtedness secured by such Liens does not at any time exceed
$1,000,000; 
 (f) Liens incurred in the extension, renewal or refinancing of the indebtedness secured by Liens described in (a) through
(c), but any extension, renewal or replacement Lien must be limited to the property encumbered by the existing Lien and the principal amount of the indebtedness may not increase; 
 (g) leases or subleases of real property granted in the ordinary course of business, and leases, subleases, non-exclusive licenses or sublicenses of
property (other than real property or intellectual property) granted in the ordinary course of Borrower’s business, if the leases, subleases, licenses and sublicenses do not prohibit granting Bank a security interest; 
 (h) non-exclusive licenses of intellectual property granted to third parties in the ordinary course of business, and licenses of intellectual property
that could not result in a legal transfer of title of the licensed property that may be exclusive in the ordinary course of business in accordance with historical practices. 
 (i) Liens arising from judgments, decrees or attachments in circumstances not constituting an Event of Default under Section 8.4 or 8.7; and

 (j) Liens in favor of other financial institutions arising in connection with Borrower’s deposit and/or securities accounts held at
such institutions, provided that Bank has a perfected security interest in the amounts held in such deposit and/or securities accounts. 
 “Person” is any individual, sole proprietorship, partnership, limited liability company, joint venture, company, trust, unincorporated organization, association, corporation, institution, public benefit corporation, firm,
joint stock company, estate, entity or government agency. 
 “Purchase Order” shall mean a purchase order received by
Borrower from a customer. 
  

 -24- 

 “Qualified Public Offering” means a public offering of the shares of capital stock of
the Borrower in respect of which the Borrower receives cash proceeds (net of costs, fees and expenses arising in connection with such public offering) of not less than $50,000,000. 
 “Quick Assets” is, on any date, Borrower’s consolidated, unrestricted cash and Cash Equivalents maintained with the Bank, and net
billed accounts receivable and investments with maturities of fewer than 12 months determined according to GAAP. 
 “Reducing
Facility” is a revolving line of credit permitting advances in a principal amount not to exceed the Reducing Facility Amount as in effect from time to time. 
 “Reducing Facility Advance” means an advance (or advances) under the Reducing Revolving Line. 
 “Reducing Facility Amount” is, initially, $4,000,000, and thereafter, is an automatically reducing amount determined as follows: 
  

				
	 Period
	  	Amount
		
	 March 1, 2007 to May 31, 2007
	  	$	3,750,000
		
	 June 1, 2007 to August 31, 2007
	  	$	3,500,000
		
	 September 1, 2007 to November 30, 2007
	  	$	3,250,000
		
	 December 31, 2007 to February 29, 2008
	  	$	3,000,000
		
	 March 1, 2008 to May 31, 2008
	  	$	2,750,000
		
	 June 1, 2008 to August 31, 2008
	  	$	2,500,000
		
	 September 1, 2008 to November 30, 2008
	  	$	2,250,000
		
	 December 31, 2008 to February 29, 2009
	  	$	2,000,000
		
	 March 1, 2009 to May 31, 2009
	  	$	1,750,000
		
	 June 1, 2009 to August 31, 2009
	  	$	1,500,000
		
	 September 1, 2009 to November 30, 2009
	  	$	1,250,000
		
	 December 31, 2009 to February 29, 2010
	  	$	1,000,000
		
	 March 1, 2010 to May 31, 2010
	  	$	1,750,000
		
	 June 1, 2010 to August 31, 2010
	  	$	1,500,000
		
	 September 1, 2010 to the Reducing Facility Maturity Date
	  	$	1,250,000

 “Reducing Facility Availability Amount” is (a) the Reducing Facility Amount
minus (b) the outstanding principal balance of any Reducing Facility Advances. 
 “Reducing Facility Maturity Date” is
the earliest of (a) October 31, 2010 or (b) the occurrence of an Event of Default. 
 “Registered
Organization” is any “registered organization” as defined in the Code with such additions to such term as may hereafter be made 
 “Responsible Officer” is any of the Chief Executive Officer, President, Chief Financial Officer and Controller of Borrower. 
 “Revolving Line” is an Advance or Advances in an aggregate amount of up to $6,000,000 outstanding at any time. 
 “Revolving Line Maturity Date” is the earliest of (a) October 31, 2008 or (b) the occurrence of an Event of Default. 
 “Securities Account” is any “securities account” as defined in the Code with such additions to such term as may hereafter be
made. 
 “Settlement Date” is defined in Section 2.1.3. 
  

 -25- 

 “Stockholders Agreement Qualified Public Offering” means a firm commitment underwritten
public offering of shares of common stock of Borrower in which (x) the aggregate gross proceeds from such offering to Borrower shall be at least $30,000,000 and (y) the price per share paid by the public for such shares shall be at least
$3.28 (subject to equitable adjustment in the event of any stock dividend, stock split, combination, reorganization, recapitalization, reclassification or other similar event affecting such shares after March 15,2005). 
 “Subordinated Debt” is indebtedness incurred by Borrower subordinated to all of Borrower’s now or hereafter indebtedness to Bank
(pursuant to a subordination, intercreditor, or other similar agreement in form and substance satisfactory to Bank entered into between Bank and the other creditor), on terms acceptable to Bank. 
 “Subsidiary” means, with respect to any Person, any Person of which more than 50% of the voting stock or other equity interests is owned
or controlled, directly or indirectly, by such Person or one or more Affiliates of such Person. 
 “Tangible Net Worth” is,
on any date, the consolidated total assets of Borrower and its Subsidiaries minus (a) any amounts attributable to (i) goodwill, (ii) intangible items including unamortized debt discount and expense, patents, trade and service
marks and names, copyrights and research and development expenses except prepaid expenses, (iii) notes, accounts receivable and other obligations owing to Borrower from its officers or other Affiliates, and (iv) reserves not already
deducted from assets, minus (b) Total Liabilities. 
 “Total Liabilities” is on any day, obligations that
should, under GAAP, be classified as liabilities on Borrower’s consolidated balance sheet, including all Indebtedness, and current portion of Subordinated Debt permitted by Bank to be paid by Borrower, but excluding all other Subordinated Debt.

 “Transfer” is defined in Section 7.1. 
 [Signature page follows.] 
  

 -26- 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the
Effective Date. 
  

					
	BORROWER:
	
	INTELLON CORPORATION
			
	By	 	 /s/ Charles E. Harris
	 	
	Name:	 	Charles E. Harris	 	
	Title:	 	Chairman and CEO	 	
	
	BANK:
	
	SILICON VALLEY BANK
			
	By	 	 /s/ Andrew A. Rice
	 	
	Name:	 	Andrew A. Rice	 	
	Title:	 	Sr. Vice President	 	

					
	Effective Date:	 	  
	 	

 [Signature page to Loan and Security Agreement] 

 EXHIBIT A 
 The Collateral consists of all of Borrower’s right, title and interest in and to the following personal property: 
 All goods, Accounts (including health-care receivables), Equipment, Inventory, contract rights or rights to payment of money, leases, license agreements, franchise agreements, General Intangibles (except as provided
below), commercial tort claims, documents, instruments (including any promissory notes), chattel paper (whether tangible or electronic), cash, deposit accounts, fixtures, letters of credit rights (whether or not the letter of credit is evidenced by
a writing), securities, and all other investment property, supporting obligations, and financial assets, whether now owned or hereafter acquired, wherever located; and 
 all Borrower’s Books relating to the foregoing, and any and all claims, rights and interests in any of the above and all substitutions for, additions, attachments, accessories, accessions and improvements to and
replacements, products, proceeds and insurance proceeds of any or all of the foregoing. 
 Notwithstanding the foregoing, the
Collateral does not include any of the following, whether now owned or hereafter acquired any copyright rights, copyright applications, copyright registrations and like protections in each work of authorship and derivative work, whether published or
unpublished, any patents, patent applications and like protections, including improvements, divisions, continuations, renewals, reissues, extensions, and continuations-in-part of the same, trademarks, service marks and, to the extent permitted under
applicable law, any applications therefor, whether registered or not, and the goodwill of the business of Borrower connected with and symbolized thereby, masking rights, know-how, operating manuals, trade secret rights, rights to unpatented
inventions, and any claims for damage by way of any past, present, or future infringement of any of the foregoing; provided, however, the Collateral shall include all Accounts, license and royalty fees and other revenues, proceeds, or income arising
out of or relating to any of the foregoing. 
 Pursuant to the terms of a certain negative pledge arrangement with Bank,
Borrower has agreed not to encumber any of its copyright rights, copyright applications, copyright registrations and like protections in each work of authorship and derivative work, whether published or unpublished, any patents, patent applications
and like protections, including improvements, divisions, continuations, renewals, reissues, extensions, and continuations-in-part of the same, trademarks, service marks and, to the extent permitted under applicable law, any applications therefor,
whether registered or not, and the goodwill of the business of Borrower connected with and symbolized thereby, know-how, operating manuals, trade secret rights, rights to unpatented inventions, and any claims for damage by way of any past, present,
or future infringement of any of the foregoing, without Bank’s prior written consent. 

 EXHIBIT B 
 Loan Payment/Advance Request Form 
 DEADLINE FOR
SAME DAY PROCESSING IS NOON P.S.T. 
  
  

											
	Fax To:	 		 		 		  		  	Date:                         
	LOAN PAYMENT:	  	
				
		 		 		 	INTELLON CORPORATION
			
	 From Account #                                  
                                
	 		 	To Account
#                                        
                                        
                                      
	(Deposit Account #)	 		 	(Loan Account #)
			
	 Principal $                                    
                                        
 
	 		 	and/or interest
$                                        
                                        
                                  
			
	 Authorized Signature:                                 
                   
	 		 	        Phone Number:                           
                                        
                                      
					
	 Print Name/Title:                                   
                             
	 		 		  		  	
	
	  
 LOAN
ADVANCE:
  
 Complete Outgoing Wire Request section below if all
or a portion of the funds from this loan advance are for an outgoing wire.
  

	 From Account #
                                        
                         
	 		 	To Account #
                                        
                                        
                                     
	(Loan Account #)	 		 	(Deposit Account #)
			
	 Amount of Advance
$                                        
               
	 		 	
	
	  
 All Borrower’s representations and warranties in the
Loan and Security Agreement are true, correct and complete in all material
 respects on the date of the request for an advance; provided, however, that such
materiality qualifier shall not be applicable to any
 representations and warranties that already are qualified or modified by materiality in the text
thereof; and provided, further that
 those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all
material
 respects as of such date:
  

	Authorized
Signature:                                     
               	 	                Phone Number:                   
                                        
                                        
      
			
	 Print
Name/Title:                                      
                          
	 		 	
	
	  
 OUTGOING WIRE
REQUEST:
  
 Complete only if all or a portion of funds from the loan
advance above is to be wired.
  
 Deadline for same day processing is noon,
P.S.T.
  

	Beneficiary Name:
                                        
                    	 		 	    Amount of Wire:
$                                        
                                        
                        
			
	Beneficiary Bank:
                                        
                      	 		 	    Account Number:
                                        
                                        
                         
			
	City and State:
                                        
                            	 		 	
			
	Beneficiary Bank Transit (ABA) #:
                             	 		 	
			
		 		 	Beneficiary Bank Code (Swift, Sort, Chip, etc.):
                                       
             
		 		 	         (For International Wire Only)

			
	Intermediary Bank:
                                        
                   	 		 	Transit (ABA) #:
                                        
                                        
                               
				
	For Further Credit to:
                                        
               	 		 		  	
				
	Special Instruction:
                                        
                   	 		 		  	
	
	  
 By signing below, I (we) acknowledge and agree that my
(our) funds transfer request shall be processed in accordance with and
 subject to the terms and conditions set forth in the agreements(s) covering
funds transfer service(s), which agreements(s) were
 previously received and executed by me (us).
  

					
	Authorized Signature:
                                        
                                      	 		 	2nd Signature (if required):
                                        
                            
	Print Name/Title:
                                        
                                        
       	 		 	Print Name/Title:
                                        
                                        
       
	Telephone #:
                                        
                                        
               	 		 	Telephone #:
                                        
                                        
               

 EXHIBIT C 
 BORROWING BASE CERTIFICATE 

	 	

									
		  	 Borrower; Intellon Corporation
 Lender: Silicon Valley
Bank
 Commitment Amount:            
$                        
	  		 		 	
	ACCOUNTS RECEIVABLE	 		 	
	1.	  	Accounts Receivable Book Value as of
                                        
    	 	$                                
	2.	  	Additions (please explain on reverse)	 	$                                
	3.	  	TOTAL ACCOUNTS RECEIVABLE	 	$                                
		
	ACCOUNTS RECEIVABLE DEDUCTIONS (without duplication)	 	
	4.	  	Amounts over 90 days due	 	$                                
	5.	  	Balance of 50% over 90 day accounts	 	$                                
	6.	  	Credit balances over 90 days	 	$                                
	7.	  	Concentration Limits	 	$                                
	8.	  	Foreign Accounts	 	$                                
	9.	  	Governmental Accounts	 	$                                
	10.	  	Contra Accounts	 	$                                
	11.	  	Promotion or Demo Accounts	 	$                                
	12.	  	Intercompany/Employee Accounts	 	$                                
	13.	  	Disputed Accounts	 	$                                
	14.	  	Deferred Revenue	 	$                                
	15.	  	Other (please explain on reverse)	 	$                                
	16.	  	TOTAL ACCOUNTS RECEIVABLE DEDUCTIONS	 	$                                
	17.	  	Eligible Accounts (#3 minus #16)	 	$                                
	18.	  	ELIGIBLE AMOUNT OF ACCOUNTS (80% of #17)	 	$                                
				
	PURCHASE ORDERS	  		 		 	
	19.	  	Purchase Order Sublimit	 	$                                
	20.	  	Eligible Purchase Orders as of
                                        
    	 	$                                
	21.	  	Eligible Amount of Purchase Orders (50% of #20)	 	$                                
	22.	  	Eligible Purchase Order Availability [Less of #19 and #21]	 	$                                
				
	BALANCES	  		 		 	
	23.	  	Maximum Loan Amount	 	$                                
	24.	  	Total Funds Available [Lesser of #23 or (#18 plus #22)]	 	$                                
	25.	  	Present balance owing on Line of Credit	 	$                                
	26.	  	Outstanding under Sublimits	 	$                                
	27.	  	RESERVE POSITION (#24 minus #25 and #26)	 	$                                

 The undersigned represents and warrants that this is true, complete and correct, and that the
information in this Borrowing Base Certificate complies with the representations and warranties in the Loan and Security Agreement between the undersigned and Silicon Valley Bank. 
  

															
		 		 		 		 	BANK USE ONLY	 	
						
	COMMENTS:	 		 		 	Received by:	 	  
	 	
		 		 		 		 		 	AUTHORIZED SIGNER	 	
							
		 		 		 		 	Date:	 	  
	 	
	By:	 	  
	 		 	Verified:	 	  
	 	
		 	Authorized Signer	 		 		 	AUTHORIZED SIGNER	 	
							
	Date:	 		 		 		 	Date:	 	  
	 	
		 		 		 		 	Compliance Status:	 	Yes                    No	 	

  

 -2- 

 EXHIBIT D 
 BORROWING RESOLUTIONS 
 Silicon Valley Bank [Logo] 
 CORPORATE BORROWING CERTIFICATE 
  

							
	BORROWER:	  	Intellon Corporation	 	DATE:	 	  

	BANK:	  	Silicon Valley Bank	 		 	

 I hereby certify as follows, as of the date set forth above: 
 1. I am the Secretary, Assistant Secretary or other officer of the Borrower. My title is as set forth below. 
 2. Borrower’s exact legal name is set forth above. Borrower is a corporation existing under the laws of the State of Delaware 
 3. Attached hereto are true, correct and complete copies of Borrower’s Articles/Certificate of Incorporation (including amendments), as filed with the Secretary of
State of the state in which Borrower is incorporated as set forth in paragraph 1 above. Such Articles/Certificate of Incorporation have not been amended, annulled, rescinded, revoked or supplemented, and remain in full force and effect as of the
date hereof. 
 4. The following resolutions were duly and validly adopted by Borrower’s Board of Directors at a duly held meeting of such directors (or
pursuant to a unanimous written consent or other authorized corporate action). Such resolutions are in full force and effect as of the date hereof and have not been in any way modified, repealed, rescinded, amended or revoked, and Bank may rely on
them until Bank receives written notice of revocation from Borrower. 
 RESOLVED, that any one of
the following officers or employees of Borrower, whose names, titles and signatures are below, may act on behalf of Borrower: 
  

							
	 Name
	  	 Title
	  	 Signature
	  	 Authorized to
 Add or Remove
 Signatories

				
	  
	  	  
	  	  
	  	 ̈
				
	  
	  	  
	  	  
	  	 ̈
				
	  
	  	  
	  	  
	  	 ̈
				
	  
	  	  
	  	  
	  	 ̈

 RESOLVED FURTHER, that any one of the persons
designated above with a checked box beside his or her name may, from time to time, add or remove any individuals to and from the above list of persons authorized to act on behalf of Borrower. 
 RESOLVED FURTHER, that such individuals may, on behalf of Borrower: 
 Borrow Money. Borrow money from Silicon Valley Bank (“Bank”). 
 Execute Loan Documents. Execute any loan documents Bank requires. 
 Grant Security. Grant Bank a security interest in any of Borrower’s assets. 

 Negotiate Items. Negotiate or discount all drafts, trade acceptances, promissory notes, or other
indebtedness in which Borrower has an interest and receive cash or otherwise use the proceeds. 
 Letters of Credit. Apply for letters
of credit from Bank. 
 Foreign Exchange Contracts. Execute spot or forward foreign exchange contracts. 
 Further Acts. Designate other individuals to request advances, pay fees and costs and execute other documents or agreements (including documents or
agreement that waive Borrowers right to a jury trial) they believe to be necessary to effectuate such resolutions. 
 RESOLVED FURTHER, that all acts authorized by the above resolutions and any prior acts relating thereto are ratified. 
 5. The persons listed above are Borrower’s officers or employees with their titles and signatures shown next to their names. 
  

			
	By:	 	  

	Name:	 	  

	Title:	 	  

 *** If the Secretary, Assistant Secretary or other certifying officer executing above is
designated by the resolutions set forth in paragraph 4 as one of the authorized signing officers, this Certificate must also be signed by a second authorized officer or director of Borrower. 
 I, the
                                        
of Borrower, hereby certify as to paragraphs 1 through 5 above, as of the date set forth 
 [print title] 
 above. 
  

			
	By:	 	  

	Name:	 	  

	Title:	 	  

  

 -2- 

 EXHIBIT E 
 COMPLIANCE CERTIFICATE 
  

											
	TO:	 	SILICON VALLEY BANK	  		  		  	Date:	 	  

	FROM:	 	INTELLON CORPORATION	  		  		  		 	

 The undersigned authorized officer of INTELLON CORPORATION (“Borrower”) certifies that
under the terms and conditions of the Loan and Security Agreement between Borrower and Bank (the “Agreement”), (1) Borrower is in complete compliance for the period ending
                     with all required covenants except as noted below, (2) there are no Events of Default, (3) all representations
and warranties in the Agreement are true and correct in all material respects on this date except as noted below; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are
qualified or modified by materiality in the text thereof; and provided, further that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date,
(4) Borrower, and each of its Subsidiaries, has timely filed all required tax returns and reports, and Borrower has timely paid all foreign, federal, state and local taxes, assessments, deposits and contributions owed by Borrower except as
otherwise permitted pursuant to the terms of Section 5.9 of the Agreement, and (5) no Liens have been levied or claims made against Borrower [or any of its Subsidiaries] relating to unpaid employee payroll or benefits of which Borrower has
not previously provided written notification to Bank. Attached are the required documents supporting the certification. The undersigned certifies that these are prepared in accordance with generally GAAP consistently applied from one period to the
next except as explained in an accompanying letter or footnotes. The undersigned acknowledges that no borrowings may be requested at any time or date of determination that Borrower is not in compliance with any of the terms of the Agreement, and
that compliance is determined not just at the date this certificate is delivered. Capitalized terms used but not otherwise defined herein shall have the meanings given them in the Agreement. 
 Please indicate compliance status by circling Yes/No under “Complies” column. 
  

					
	 Reporting Covenant
	  	 Required
	  	 Complies

	Monthly financial statements with Compliance Certificate	  	Monthly within 30 days	  	Yes          No
	Annual financial statement 1CPA Audited) + CC	  	FYE within 150 days	  	Yes          No
	10-Q, 10-Kand 8-K	  	Within 5 days after filing with SEC	  	Yes          No
	Borrowing Base Certificate A/R & A/P Agings and Purchase Order Reports	  	Monthly within 30 days	  	Yes          No

  

									
	 Financial Covenant
	  	Required	  	Actual	  	Complies
	 Maintain on a Monthly Basis:
	  			  			  	
	 Minimum Adjusted Quick Ratio
	  	 	1.00:1.00	  	 	        :1.00	  	Yes          No
	 Minimum Tangible Net Worth
	  	$	                	  	$	                	  	Yes          No

 The following financial covenant analys[is][es] and information set forth in Schedule 1
attached hereto are true and accurate as of the date of this Certificate. 
 The following are the exceptions with respect to the
certification above: (If no exceptions exist, state “No exceptions to note.”) 

	
	  

	  

	  

							
	[Borrower name]	  		 	BANK USE ONLY
				
	By:	 	  
	  		 	Received
by:                                       
                 
	Name:	 	  
	  		 	 AUTHORIZED SIGNER

	Title:	 	  
	  		 	Date:
                                        
                            
				
		 		  		 	Verified:
                                        
                      
		 		  		 	 AUTHORIZED SIGNER

				
		 		  		 	Date:
                                        
                            
				
		 		  		 	Compliance Status:             Yes        No

  

 -2- 

 Schedule 1 to Compliance Certificate 
 Financial Covenants of Borrower 
 Dated:
                             
  

	I.	Adjusted Quick Ratio (Section 6.7(a)) 

 Required:        1.00:1.00 
 Actual: 
  

					
	 A.
	  	Aggregate value of the unrestricted cash and cash equivalents of Borrower and its Subsidiaries	  	$            
			
	 B.
	  	Aggregate value of the net billed accounts receivable of Borrower and its Subsidiaries	  	$            
			
	 C.
	  	Aggregate value of the Investments with maturities of fewer than 12 months of Borrower and it Subsidiaries	  	$            
			
	 D.
	  	Quick Assets (the sum of lines A through C)	  	$            
			
	 E.
	  	Aggregate value of Obligations to Bank	  	$            
			
	 F.
	  	Aggregate value of liabilities of Borrower and its Subsidiaries (including all Indebtedness) that matures within one (1) year and current portion of Subordinated Debt permitted by Bank to be
paid by Borrower	  	$            
			
	 G.
	  	Current Liabilities (the sum of lines E and F)	  	$            
			
	 H.
	  	Aggregate value of all amounts received or invoiced by Borrower in advance of performance under contracts and not yet recognized as revenue	  	$            
			
	 I.
	  	Line G minus line H	  	$            
			
	 J.
	  	Adjusted Quick Ratio (line D divided by line 1)	  	                

 Is line J equal to or greater than 1.00:1:00? 
  

							
	         No, not in compliance	  		  		  	         Yes, in compliance

	II.	Tangible Net Worth Ratio (Section 6.7(b)) 

 Required:        $         
 Actual: 
  

					
	 A.
	  	Aggregate value of total assets of Borrower and Its Subsidiaries	  	$            
			
	 B.
	  	Aggregate value of goodwill of Borrower [and its Subsidiaries]	  	$            
			
	 C.
	  	Aggregate value of intangible assets of Borrower [and its Subsidiaries]	  	$            
			
	 D.
	  	Aggregate value of any reserves not already deducted from assets	  	$            
			
	 E.
	  	Aggregate value of liabilities of Borrower and its Subsidiaries (including all Indebtedness) and current portion of Subordinated Debt permitted by Bank to be paid by Borrower (but no other
Subordinated Debt)	  	$            
			
	 F.
	  	Tangible Net Worth (line A minus line B minus line C minus line D minus line E)	  	$            

 Is line F equal to or greater than
$                    ? 
  

							
	         No, not in compliance	  		  		  	         Yes, in compliance

  

 -2-

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