Document:

Exhibit 10.1

 

EXECUTION
VERSION

 

GROUND
LEASE AGREEMENT (BUILDING)

 

THIS
GROUND LEASE AGREEMENT (BUILDING) (this “Lease”) is made and entered into by and between [                         ] (the “Landlord”),
and EcoChain Block LLC (the “Tenant”) and is dated May 3, 2021.

 

W
I T N E S S E T H:

 

WHEREAS,
Landlord is the owner of that certain real property (the “Entire Parcel”) in [         ], [        ], legally described in
Exhibit A;

 

WHEREAS,
a portion of the Entire Parcel is improved with Landlord’s industrial facility;

 

WHEREAS,
Landlord has constructed a building (and together with the Systems (as hereinafter defined), the “Building”)
on a portion of the Entire Parcel as outlined on Exhibit B (the “Premises”);

 

WHEREAS,
as of the Effective Date, the Premises is not a separate legal parcel and does not have a separate address; and

 

WHEREAS,
Landlord desires to lease to Tenant and Tenant desires to lease from Landlord the Premises (including, for the avoidance of doubt,
the Building).

 

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

 

1.             Defined
Terms. As used herein, the following terms shall have the meanings specified below:

 

1.1           “Affiliate”
means, with respect to a specified Person, a Person that directly, or indirectly through one or more intermediaries, controls,
is controlled by or is under common control with, the specified Person. In addition to the foregoing, if the specified Person
is an individual, the term “Affiliate” also includes (a) the individual’s spouse, (b) the members of the immediate
family (including parents, siblings and children) of the individual or of the individual’s spouse and (c) any corporation,
limited liability company, general or limited partnership, trust, association or other business or investment entity that directly
or indirectly, through one or more intermediaries controls, is controlled by or is under common control with any of the foregoing
individuals. For purposes of this definition, the term “control” (including the terms “controlling,” “controlled
by” and “under common control with”) means the possession, direct or indirect, of the power to direct or cause
the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise.

 

1.2           “Applicable
Laws” has the meaning set forth in Section 34.1.8 of this Lease.

 

1.3           “[
        ]” has the meaning set forth in Section 2.2 of this Lease.

 

     

     

    

1.4           “Broker”
shall mean [         ].

 

1.5           “Commencement
Date” shall have the meaning set forth in Section 5 of this Lease.

 

1.6           “Contracts”
shall have the meaning set forth in Section 34.1.17 of this Lease.

 

1.7           “Easement
Agreement” shall have the meaning set forth in Section 3.1.2 of this Lease.

 

1.8           “Effective
Date” means the first date on which this Lease has been executed by both Landlord and Tenant and fully executed counterpart
originals thereof delivered to each party.

 

1.9           “Encumbrancer”
has the meaning set forth in Section 33.1 of this Lease.

 

1.10         “Environmental
Law” has the meaning set forth in Section 29.1 of this Lease.

 

1.11         “Environmental
Report” has the meaning set forth in Section 3.3.3 of this Lease.

 

1.12         “Equipment
Lease” has the meaning set forth in Section 8.4 of this Lease.

 

1.13         “Equipment
Lessor” has the meaning set forth in Section 8.4 of this Lease.

 

1.14         “Exceptions”
shall have the meaning set forth in Section 34.1.6 of this Lease.

 

1.15         “Future
Encumbrances” shall have the meaning set forth in Section 33.1 of this Lease.

 

1.16         “Hazardous
Materials” shall have the meaning set forth in Section 29.1 of this Lease.

 

1.17         “Hosting
Services Agreement” shall have the meaning set forth in Section 2.2 of this Lease.

 

1.18         “Initial
Payment” has the meaning set forth in Section 3.2.1 of this Lease.

 

1.19         “Initial
Survey” has the meaning set forth in Section 7.5 of this Lease.

 

1.20         “Interest
Rate” means the rate per annum quoted in The Wall Street Journal as the Prime Rate (or a reasonably equivalent
publicly available and recognized resource in the event The Wall Street Journal ceases to quote such rate).

 

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1.21         “Landlord
Broker Agreement” shall mean that certain Commission Agreement, dated as of April 6, 2021, by and between Landlord and
Broker.

 

1.22         “Landlord
Parties” has the meaning set forth in Section 16.1 of this Lease.

 

1.23         “Law(s)”
means all present and future federal, state, and local statutes, common law, ordinances, regulations, orders, and other requirements
of governmental authorities, including without limitation, building codes and the Americans with Disabilities Act.

 

1.24         “Lease
Year” means (i) the Commencement Date through the last day of the month in which the first (1st) anniversary of the
Commencement Date occurs; (ii) each successive twelve (12) month period thereafter during the Term hereof; and (iii) the portion
of the calendar year in which this Lease terminates.

 

1.25         “Leasehold
Policy” has the meaning set forth in Section 3.3.2 of this Lease.

 

1.26         “Memorandum of Lease” shall have the meaning set forth in Section 31 of this Lease.

 

1.27         “Minimum
Annual Rent” shall have the meaning set forth in Section 6.1 of this Lease.

 

1.28         “[       
]” has the meaning set forth in Section 2.2 of this Lease.

 

1.29         “Non-Disturbance
Agreement” shall have the meaning set forth in Section 33.2 of this Lease.

 

1.30         “Other
Premises” shall have the meaning ascribed to the term “Premises” in the Vacant Ground Lease.

 

1.31         “Parent”
has the meaning set forth in Section 3.1.5 of this Lease.

 

1.32         “Parking
Lot” has the meaning set forth in Section 10.1.1 of this Lease.

 

1.33         “Parking
Spaces” has the meaning set forth in Section 10.1.1 of this Lease.

 

1.34         “Person”
means an individual or an entity, including a corporation, limited liability company, general or limited partnership, trust, association
or other business or investment entity, or any governmental authority.

 

1.35         “Personalty”
means Tenant’s trade fixtures, furniture, equipment, signs (including those outside of or in the Building), inventory and
other personal property located in or on the Premises which, for the avoidance of doubt, excludes the Systems.

 

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1.36         “Plat”
has the meaning set forth in Section 7.5 of this Lease.

 

1.37         “Power
Supply Agreement” means that certain Power Supply Agreement by and between the Landlord and Tenant with respect to Premises
and the Other Premises.

 

1.38         “Real Property Taxes” has the meaning set forth in Section 7 of this Lease.

 

1.39         “Rent”
has the meaning set forth in Section 6 of this Lease.

 

1.40         “SNDA”
has the meaning set forth in Section 33.2 of this Lease.

 

1.41         “Stock
Trading Restriction Agreement” has the meaning set forth in Section 3.1.6 of this Lease.

 

1.42         “Stormwater
Liabilities” has the meaning set forth in Section 11.5 of this Lease.

 

1.43         “Specified
Employees” means [          ],
[          ], [         ], [
          ], [          ] and
[         ].

 

1.44         “Specified
Miner” has the meaning set forth in Section 3.1.2 of this Lease.

 

1.45         “Specified
Miner List” has the meaning set forth in Section 3.1.2 of this Lease.

 

1.46         “Subdivision
Plat” has the meaning set forth in Section 3.3.9 of this Lease.

 

1.47         “Systems”
means all fixtures, systems, equipment and items of personal property of Landlord attached or appurtenant to, located on or used
in connection with the ownership, use, operation or maintenance of the Premises and/or the Building, excluding the Specified Personal
Property.

 

1.48         “Taking”
has the meaning set forth in Section 18.1 of this Lease.

 

1.49         “Tax
Bill” has the meaning set forth in Section 7.4 of this Lease.

 

1.50         “Tenant
Broker Agreement” shall mean that certain Consulting Agreement by and between Tenant and Broker.

 

1.51         “Tenant’s
Improvement Work” or “Tenant Improvements” means the improvements that Tenant may construct on the
Premises pursuant to the applicable provisions of this Lease.

 

1.52         “Tenant’s
Tax Parcel” has the meaning set forth in Section 7.5 of this Lease.

 

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1.53         “Tenant
TVA Contract” has the meaning set forth in Section 3.3.5 of this Lease.

 

1.54         “Term”
means twenty-five (25) Lease Years.

 

1.55         “Title
Company” has the meaning set forth in Section 3.3.2 of this Lease.

 

1.56         “Total
Rent” has the meaning set forth on Exhibit F to this Lease.

 

1.57         “Transaction
Documents” means, collectively, this Lease, the Vacant Land Lease and all other documents, agreements and instruments
executed and delivered under, pursuant to or otherwise in connection with this Lease or the Vacant Land Lease.

 

1.58         “Transfer”
has the meaning set forth in Section 32.2 of this Lease.

 

1.59         “Transition
Services Agreement” means that certain Transition Services Agreement by and between Landlord and Tenant.

 

1.60         “TVA”
means Tennessee Valley Authority.

 

1.61         “TVA
Contract” means that certain Firm Power and FPI Power Contact dated [ ], and known as Contract No. [ ], as amended from
time to time, pursuant to which, among other things, TVA has agreed to deliver power to Landlord and Landlord has agreed to pay
for such power for the Entire Parcel.

 

1.62         “Unavoidable
Delay” has the meaning set forth in Section 36.

 

1.63         “Vacant
Land Lease” means that ground lease containing a conversion option by and between Landlord and Tenant with respect to
another portion of vacant land owned by the Landlord.

 

2.            Lease
and Delivery of Premises.

 

2.1           Landlord
leases to Tenant and Tenant hires from Landlord the Premises, for the Term and pursuant to all of the terms, covenants, and conditions
contained in this Lease.

 

2.2           Landlord
hereby represents and warrants to Tenant that Landlord is a party to that certain Hosting Services Agreement dated March 4, 2020
(as amended and in effect on the Effective Date, “Hosting Services Agreement”) executed by and among Landlord,
[ ] (“[ ]”) and [ ] (“[ ]”), pursuant to which Landlord is providing hosting and mining services. The
Specified Miners are customers of [ ] or [ ] and are entitled to certain rights related to the Hosting Services Agreement and
the Premises.

 

2.3           Landlord
shall be responsible, at its sole cost and expense, for causing termination of all existing tenancies for any portion of the Premises,
if any, including the Specified Miners; provided, however, the termination of all existing tenancies of the Specified Miners is
not a condition precedent to either Tenant under Section 3.3 or to Landlord under Section 3.4.

 

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2.4          The
Premises shall be delivered to Tenant and Tenant will accept the Premises in AS-IS WHERE-IS condition. Except as set forth herein,
Landlord has not made any representations or promises with respect to the physical condition of the Premises and/or the permissible
uses of the Premises. Tenant has inspected the Premises and agrees to accept the same “as is”.

 

3.           Conditions
to Establishing Commencement Date.

 

3.1          Landlord
shall deliver the following items on or before the Commencement Date, each of which shall be in form and substance reasonably
satisfactory to Tenant:

 

3.1.1
a list of all miners located at the Premises as of the Commencement Date (each, a “Specified Miner”, and such
list, the “Specified Miner List”);

 

3.1.2
an ingress and egress agreement with respect to the Premises in the form annexed hereto as Exhibit I, duly executed by
Landlord (the “Easement Agreement”);

 

3.1.3
the Power Supply Agreement duly executed by Landlord;

 

3.1.4
the Transition Services Agreement, duly executed by Landlord;

 

3.1.5
a fully-executed stock trading restriction agreement by and among Mechanical Technology, Incorporated (“Parent”),
the indirect parent company of Tenant, and Landlord, in form and substance satisfactory to each of Tenant and Landlord (such agreement,
the “Stock Trading Restriction Agreement”);

 

3.1.6
a memorandum of lease in the form annexed hereto as Exhibit C, duly executed and notarized by Landlord; and

 

3.1.7
the Landlord Broker Agreement, duly executed by Landlord and [ ].

 

3.2          Tenant
shall deliver the following items on or before the Commencement Date, each of which shall be in form and substance reasonably
satisfactory to Landlord:

 

3.2.1
the sum of Five Hundred Thousand and 00/100 Dollars ($500,000.00) (the “Initial Payment”) by wire transfer;

 

3.2.2
the Easement duly executed by Tenant;

 

3.2.3
the Power Supply Agreement duly executed by Tenant;

 

3.2.4
the Transition Services Agreement, duly executed by Tenant;

 

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3.2.5
a guaranty by Parent, in the form attached hereto as Exhibit J, duly executed by Parent;

 

3.2.6
the Stock Trading Restriction Agreement duly executed by Parent;

 

3.2.7
a memorandum of lease in the form annexed hereto as Exhibit C, duly executed and notarized by Tenant; and

 

3.2.8
the Tenant Broker Agreement, duly executed by Tenant and [             ].

 

3.3          Satisfaction
of the following obligations are conditions precedent for Tenant’s obligations under this Lease that accrue on or after
the Commencement Date:

 

3.3.1
the occurrence of the Commencement Date (as defined in the Vacant Land Lease);

 

3.3.2
receipt of a leasehold title policy (the “Leasehold Policy”) from a title company selected by Tenant (the “Title
Company”), based on a pro forma acceptable to Tenant;

 

3.3.3
receipt of an environmental report or reports from [                   ] with respect to the Premises (the “Environmental Report”,
which Environmental Report may also include the Other Premises) in form and substance acceptable to Tenant;

 

3.3.4
receipt from TVA of a “Rate Class Sample Billing” as requested by Tenant prior to the Effective Date with respect
to the TVA Contract as in effect on the Effective Date;

 

3.3.5
receipt from TVA of written confirmation of the rate class and the associated terms and conditions for a separate power supply
contract to be entered into by TVA and Tenant after the Effective Date with respect to the Building and the Other Premises that
is acceptable to Tenant (“Tenant TVA Contract”);

 

3.3.6
Tenant shall have been added as an additional insured under that certain Pollution Legal Liability Select Clean-Up Cost Cap Insurance
issued by American International Specialty Lines Insurance Company (now known as Chartis Specialty Insurance Company) with respect
to the Premises and Other Premises, provided that Tenant has timely provided all information requested by or on behalf of Landlord
necessary or appropriate to have Tenant named as an additional insured on such policy;

 

3.3.7
Tenant shall have received employment agreements from at least five (5) of the Specified Employees in form and substance reasonably
satisfactory to Tenant (including waiver of any restrictive covenants in favor of Landlord that could limit the performance of
such Specified Employees’ performance of blockchain mining or hosting related services);

 

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3.3.8
Landlord causing the Building to be in the same condition as the condition of the Building on the Effective Date;

 

3.3.9
Landlord causing the recording of a final non-appealable subdivision plat in form reasonably acceptable to Landlord and Tenant
(the “Subdivision Plat”);

 

3.3.10
the representations and warranties of Landlord contained in this Lease shall be true and correct as of the Commencement Date;
and

 

3.3.11
Landlord shall be in compliance with the terms and provisions of this Lease.

 

The
foregoing conditions are for the benefit only of Tenant and Tenant, in its sole discretion, may waive any or all of such conditions
and close under this Lease or agree, subject to Section 5 below, to extend the closing to provide additional time to satisfy any
hitherto unsatisfied conditions.

 

3.4          Satisfaction
of the following obligations are conditions precedent for Landlord’s obligations under this Lease that accrue on or after
the Commencement Date:

 

3.4.1
the occurrence of the Commencement Date (as defined in the Vacant Land Lease);

 

3.4.2
Landlord causing the recording of the Subdivision Plat in the event the recording of such plat is a condition precedent to Landlord
and Tenant being legally permitted to enter into this Lease and/or in the event Tenant requires the recording of same;

 

3.4.3
the representations and warranties of Tenant contained in this Lease shall be true and correct as of the Commencement Date;

 

3.4.4
Tenant shall be in compliance with the terms and provisions of this Lease; and

 

3.4.5
receipt of a written confirmation from TVA that the rate class for Landlord under either a new power supply agreement with TVA
or a modification of the TVA Contact, in each case to be negotiated after the Effective Date and after giving effect to the consummation
of the Tenant TVA Contract, will not be worse than the rate class under the TVA Contract as in effect on the Effective Date.

 

The
foregoing conditions are for the benefit only of Landlord and Landlord, in its sole discretion, may waive any or all of such conditions
and close under this Lease or agree, subject to Section 5 below, to extend the closing to provide additional time to satisfy any
hitherto unsatisfied conditions.

 

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Each
of Landlord and Tenant shall use best efforts to satisfy any applicable condition precedent set forth in Section 3.3 and Section
3.4. For sake of clarity, Tenant shall use best efforts to obtain the Leasehold Policy in the condition required and Landlord
shall use best efforts to record the Subdivision Plat.

 

4.            Building.
Subject to Section 8.2, at the expiration of the Term or earlier termination of this Lease the Building and all other alterations,
improvements and additions to the Premises shall be surrendered to and become the sole property of Landlord without payment of
compensation by Landlord, and free and clear of all claims by Tenant.

 

5.            Term.
The Term shall commence on the date (the “Commencement Date”) on which (i) all conditions precedent set forth
in Section 3 have been satisfied or waived and (ii) Landlord delivers possession of the Premises to Tenant and the Premises are
available to Tenant, free and clear of any other leases or occupants, except as expressly set forth herein. In the event the Commencement
Date has not occurred prior to one hundred eighty (180) days after the Effective Date, then either Tenant or Landlord, each, as
its sole and exclusive remedy, may terminate this Lease by providing notice to the other party at any time after expiration of
such 180-day period but prior to the date on which the Commencement Date occurs, and neither Landlord nor Tenant shall have any
obligation to the other party, except those obligations that specifically survive the termination of this Lease.

 

6.            Rent.

 

6.1          Rent.
Commencing upon the Commencement Date, Tenant agrees to pay to Landlord rent (the “Minimum Annual Rent”) pursuant
to the terms set forth in Exhibit F attached hereto.

 

7.       Real
Property Taxes And Assessments.

 

7.1          Tax
Payment by Tenant. Tenant agrees to pay prior to delinquency all Real Property Taxes on the Premises and all improvements
thereon, commencing on the Commencement Date, directly to the taxing authority, except if the Premises is not a separate tax parcel.
In such a case, Tenant shall reimburse Landlord for Real Property Taxes relating to the Premises as specified in Section 7.4 below.

 

7.2          Real
Property Taxes Prorated. Any Real Property Taxes relating to a fiscal period, a part of which is not included within the
Term, shall be prorated so that Tenant shall pay only that portion thereof which relates to the tax period included within the
Term. In the event any Real Property Taxes (or any component thereof) may be paid in periodic installments, Tenant may pay same
over the longest possible period and Tenant shall be responsible only for those installments relating to the period included within
the Term.

 

7.3          Contest.
Tenant may contest the amount or validity of any Real Property Taxes which it is required to pay under the terms of this Lease
and may for such purpose institute proceedings in the name of the Landlord; provided, however, such proceedings shall be at Tenant’s
sole cost and expense. In the event Tenant obtains a refund, such refund shall belong to Tenant.

 

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7.4         Tax
Reimbursement. Unless the Premises are separately assessed as set forth in Section 7.5 below (with the Real Property Taxes
therefore payable directly by the Tenant to the taxing authority), Tenant shall reimburse Landlord for Tenant’s proportionate
share of Real Property Taxes levied or assessed against the Premises during the Term. Such Real Property Taxes shall be reimbursed
by Tenant to Landlord within thirty (30) days after receipt by Tenant from Landlord of official copies of the tax bills in question,
marked as paid by the proper authorities, along with calculations by Landlord detailing Tenant’s proportionate share. Tenant
shall not be required to share in the payment of any penalties, interest, late payment fees or the like resulting from Landlord’s
late payment of Real Property Taxes. Tenant’s proportionate share of Real Property Taxes shall be an amount equal to the
total of such taxes covered by the applicable tax bill (the “Tax Bill”) multiplied by a fraction, the numerator
of which shall be the square foot area of the Building and the denominator of which shall be the square foot area of all buildings
covered by the Tax Bill.

 

7.5         Tenant’s
Tax Parcel. To the extent not provided to Landlord prior to the Effective Date, Tenant will provide to Landlord a proposed
boundary survey for the Premises as soon as practicable after the Effective Date (the “Initial Survey”). Landlord
shall have ten (10) business days after the later of the Effective Date or the delivery of the Initial Survey (or such longer
time as consented to by Tenant in writing) to propose changes to the Initial Survey otherwise it shall be deemed to have accepted
the Initial Survey. If Landlord does provide such proposed changes, the parties shall work in good faith to determine the final
boundary survey to be used as the legal description for the Premises. Within ten (10) business days after finalizing the Initial
Survey, Tenant, at its sole cost, shall prepare a minor subdivision plat (the “Plat”) based on the Initial
Survey that satisfies all requirements necessary for recording in the land records in the county in which the Premises is located.
Landlord, at Landlord’s sole cost, shall use the Plat to subdivide the Premises into a separate legal parcel and cause the
Premises to constitute a separate tax parcel (“Tenant’s Tax Parcel”) as soon as reasonably possible thereafter.

 

7.6         Reassessment.
If the Premises is reassessed due to any transfer or conveyance of the same, or any interest therein, by Landlord or Landlord’s
successors and as a result thereof, the Real Property Taxes owed by Tenant hereunder are increased, Landlord shall pay to Tenant
prior to delinquency the amount of such increase for the fiscal year in which the increase first becomes applicable and for each
fiscal year thereafter, and Tenant shall not be responsible therefor, provided that if Tenant’s Tax Parcel has been created,
then Landlord shall pay to Tenant or provide the Tenant with a credit against rent otherwise next due from Tenant, within thirty
(30) days after written demand, the amount of such increase relating to Tenant’s Tax Parcel and Tenant shall pay the Real
Property Taxes directly to the taxing authority, as set forth above.

 

7.7         Real
Property Taxes Defined. For purposes of this Lease, “Real Property Taxes” mean (i) all real property taxes
levied against the Premises, and (ii) all general and special assessments levied against the Premises. Real Property Taxes exclude
municipal, county, state, or federal income, profits, gross receipts, renewal, or franchise tax or business license tax of Landlord
or any municipal, county, state, or federal estate, succession, inheritance, or transfer taxes of Landlord or any fine, penalty,
cost or interest related to Real Property Taxes levied as the result of the failure of Landlord to timely pay the Real Property
Taxes. If at any time during the Term, the Laws concerning the methods of real property taxation prevailing at the Effective Date
are changed so that a tax or excise on rents or any other such tax, however described, is levied or assessed against Landlord
as a direct substitution in whole or in part for any Real Property Taxes, Tenant shall pay before delinquency (but only to the
extent that it can be ascertained that there has been a substitution and that as a result Tenant has been relieved from the payment
of Real Property Taxes it would otherwise been obligated to pay) the applicable portion of the substitute tax or excise on rents.

 

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8.           Alterations
And Removal; Fixtures And Personal Property.

 

8.1         Tenant
Alterations. Until Total Rent is paid in full, Tenant shall not make, without Landlord’s prior written consent which
shall not be unreasonably withheld, conditioned or delayed, any material alterations, improvement, repairs or additions to and
upon the Premises and shall not demolish the Building. After Total Rent is paid in full, Tenant from time to time without Landlord’s
consent may make such alterations, improvements, repairs, and additions to and upon the Premises and the Building thereon and
may install therein such Personalty and other property as it may consider advisable; provided, that no such actions may be taken
prior to the expiration or termination of the Hosting Services Agreement if such actions would prevent Landlord from performing
its obligations under the Hosting Services Agreement in the same manner as it performs such obligations as of the Commencement
Date. Without limiting the foregoing, after the expiration or termination of the Hosting Services Agreement, Tenant may, at its
sole election, demolish the Building and, at its election, construct a new building. In connection therewith, Tenant shall, at
Tenant’s expense, apply for any building permits required for the construction thereof. In connection therewith, at the
request and expense of Tenant, Landlord shall: (a) cooperate to the extent necessary to obtain any required permits; (b) join
with Tenant in all applications and proceedings; (c) agree (under a separate agreement to be negotiated in good faith by Landlord
and Tenant) to allow Tenant to connect all sanitary wastewater systems of the Building and all other alterations, improvements
and additions to the Premises to the existing sanitary wastewater treatment and disposal system maintained by Landlord on the
Entire Parcel; and (d) execute all agreements, easements and dedications required by government agencies, as a condition to the
issuance of such permits but only to the extent any such agreements, easements and/or dedications (i) affect only the Premises
or affect any other portion of the Entire Parcel in a non-material manner and (ii) do not affect the operation of Landlord’s
business in any materially adverse manner.

 

8.2         Approval
Rights. Landlord shall have approval rights of any final plans submitted by Tenant in connection with the construction
of any improvements on the Premises, such approval not to be unreasonably withheld, conditioned or delayed.

 

8.3         Tenant’s
Personalty. All of Tenant’s Personalty shall remain the property of Tenant. At any time during or at the expiration
of the Term or earlier termination of this Lease, Tenant may, but shall not be obligated to, remove any and all such Personalty.
Such removal shall be performed in a good and workmanlike manner and Tenant shall repair any damage to the Premises resulting
from the removal of such aforementioned items.

 

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8.4         Equipment
Lease. Landlord waives any statutory landlord’s lien, which it may now have or hereafter acquire and any attachment
right resulting from any failure to pay Rent or other default, on the Personalty. Landlord acknowledges and agrees that Tenant’s
Personalty may be leased from an equipment lessor or encumbered by Tenant’s lender (collectively, “Equipment Lessor”)
and that Tenant may execute and enter into an equipment lease or security agreement with respect to such Personalty (“Equipment
Lease”). If and to the extent required by any Equipment Lease or Equipment Lessor, Landlord shall execute and deliver
to the Equipment Lessor a written consent or acknowledgment, in recordable form and in scope and substance satisfactory to such
Equipment Lessor in which Landlord (i) acknowledges and agrees that the Personalty which is the subject of the Equipment Lease
constitutes the personal property of Tenant, and shall not be considered to be part of the Premises, regardless of whether or
by what means they become attached thereto, (ii) agrees that it shall not claim any interest in such Personalty, and (iii) agrees
that Equipment Lessor may enter the Premises for the purpose of exercising any rights it may have under the provisions of the
Equipment Lease, including the right to remove such Personalty, provided that such Equipment Lessor removes the Personalty no
later than the termination of the Lease and agrees to repair any damage resulting from such removal.

 

9.           Surrender
of Premises. Tenant shall surrender and deliver up the Premises, and all improvements thereon, to Landlord at the expiration
or other termination of this Lease in AS-IS condition, without representation or warranty.

 

10.         Parking.

 

10.1.1
During the Term, Landlord shall at all times provide for the use of Tenant, its employees, agents, guests and invitees of fifteen
(15) unassigned parking spaces (the “Parking Spaces”) in the surface parking area located on the Entire Parcel
to the northwest of the Premises (the “Parking Lot”), and the use of driveways of and pedestrian access to
the Parking Lot; provided, that the number of such Parking Spaces shall be reduced by the number of parking spaces on a
paved area granted to Tenant under the Easement Agreement or other written agreement reasonably acceptable to Tenant. The Parking
Spaces are provided for no additional charge.

 

10.1.2
Landlord, at Landlord’s sole cost and expense, shall maintain in a commercially reasonable condition (and replace when Landlord
deems it reasonably necessary) any asphalt and similar improvements from time to time located upon the Parking Lot, and shall
arrange for snow removal and other maintenance of the Parking Lot in a commercially reasonable manner

 

10.1.3
Landlord shall have no liability whatsoever for any property damage or personal injury which might occur as a result of, or in
connection with, the use of the Parking Spaces or the Parking Lot by Tenant, its employees, agents, guests and invitees. Tenant
hereby agrees to indemnify and hold Landlord and its affiliates harmless from and against any and all costs, claims, expenses,
or causes of action which Landlord may incur in connection with or arising out of the use of the Parking Spaces and the Parking
Lot by Tenant, its employees, agents, guests and invitees, except to the extent resulting or arising from the gross negligence
or willful misconduct of Landlord.

 

     12

     

    

10.1.4
The number of Parking Spaces provided by Landlord in this Section 10 is not in addition to the number of parking spaces on the
Parking Lot provided by Landlord in Section 10 of the Other Ground Lease.

 

11.          Use
of Premises.

 

11.1       Permitted
Use. Subject to any restrictions of public record, Tenant may use the Premises for any industrial use permitted by law,
including blockchain mining and/or hosting services provided such use does not material adversely impact the operation of Landlord’s
business on the remainder of the Entire Parcel. Tenant will use and occupy the Premises and appurtenances in a careful, safe and
proper manner, and shall comply with the lawful requirements of the proper public authorities regarding the conduct of Tenant’s
business. Tenant will not permit the Premises to be used for any unlawful purpose or create a waste or nuisance.

 

11.2       No
Covenant to Build or Operate. Tenant does not covenant to and Tenant shall have no obligation to build any improvement
on the Premises and/or to operate any business thereon.

 

11.3       Stormwater.
At all times during the Term, Landlord shall accept and treat all stormwater entering the Entire Parcel from the Premises, and
Tenant, at Landlord’s expense, shall reasonably cooperate with Landlord in its efforts to accept and treat such water, including
providing access to the Premises to comply with such obligations. Landlord shall manage, treat and discharge such stormwater in
compliance with all applicable Laws, including Environmental Laws. Landlord shall indemnify, defend and hold harmless Tenant and
its affiliates from all costs, expenses, liabilities, claims, demands, suits, judgments, fines, penalties, and interest (collectively,
“Stormwater Liabilities”) arising from the management, treatment and discharge of stormwater from the Premises,
except to the extent that Landlord can reasonably demonstrate that such Stormwater Liabilities arise due to contaminants in such
stormwater that are solely attributable to Tenant’s operations at the Premises.

 

12.          Maintenance
And Repair. Until Total Rent is paid, Tenant shall maintain the Premises and the Building in as good of condition as exists
on the Effective Date, normal wear and tear excepted. At all times during the term of this Lease, Tenant shall keep the Premises
free from accumulation of waste materials and rubbish and maintain it in a safe condition.

 

13.          Utilities.
Tenant shall be responsible for the payment of all water, gas, electricity, and other utilities used by or supplied to Tenant
for its exclusive use in the Premises. Tenant shall make application for, arrange for, pay for (directly to such utility) and
be solely responsible for all charges for utility services for the Premises, except that Landlord shall be solely responsible
for the payment of any imposition charged by applicable government jurisdictions or utility providers which are commonly referred
to as (or are similar to) connection charges, availability fees, tie-in fees, meter fees or charges, impact charges, initial connection
or so-called “tap-in” fees and development fees . Tenant shall be entitled at its expense to have additional utility
service capacity installed or made available for its use at the Premises. To the extent any utilities services provided to Tenant
are not separately metered directly with the providing utility, the parties shall equitably allocate the charges for such services,
and Tenant shall reimburse Landlord any expenses directly related to such Tenant’s utility service within thirty (30) days
after Landlord provides Tenant an invoice for such expense. In the event of a conflict between the Power Supply Agreement and
this Section 13, the terms of the Power Supply Agreement shall govern and control.

 

     13

     

    

14.          Inspection
of Premises. Landlord shall have the right to enter upon the Premises for the purposes of inspection, serving or posting
notices, or complying with Laws. Landlord shall exercise such rights reasonably, upon not less than 24 hours’ notice and
in such manner as not to interfere unreasonably with the business of Tenant.

 

15.          Liens.
Except for such as may be contested in good faith, Tenant will promptly pay and discharge any and all claims for work or labor
done or supplies furnished or services rendered at the request of Tenant and shall keep the Premises free and clear of all mechanics’
and materialmen’s liens in connection therewith. Landlord shall be notified by Tenant prior to the commencement of any work
to be done or materials to be supplied to the Premises in order to permit the Landlord to post any notice of non-responsibility
that is authorized under the Laws of the State of [           ]. In the event a mechanic’s lien is recorded against the Premises,
which is not caused by the acts or omissions of Tenant or any contractor or supplier hired or retained by Tenant, Landlord shall
indemnify, defend and hold Tenant harmless from all costs, losses, damages or causes of action arising from any such lien.

 

16.          Indemnity
And Insurance.

 

16.1       Tenant’s
Indemnity. Tenant shall indemnify, defend and hold Landlord and Landlord’s affiliates and their respective officers,
directors, members, agents, servants, employees, and independent contractors (collectively the “Landlord Parties”)
harmless from and against any and all costs, loss, damage or expense arising out of death of or injury to persons, or loss of
or damage to property in connection with the entry onto the Premises by Tenant or its agents, employees, or contractors on and
after the Commencement Date, except and to the extent that any such loss, cost, damage or expense arising out of death of or injury
to persons, or loss of or damage to property is caused by or results from the acts or omissions of Landlord or Landlord Parties.
This indemnity and hold harmless agreement shall include indemnity against all expenses and liabilities incurred in or in connection
with any such claim or proceeding brought thereon, and the defense thereof with counsel selected by Landlord or counsel selected
by an insurance company which has accepted liability of any such claim. Tenant’s indemnification shall survive the expiration
or earlier termination of the Lease.

 

     14

     

    

16.2       Landlord’s
Indemnity. Landlord shall indemnify, defend, and hold harmless Tenant, along with Tenant’s affiliates and the officers,
directors, employees and agents of each, from and against any and all claims, demands, liabilities, fines, suits, actions, proceedings,
orders, decrees, judgments, losses, damages, costs and expenses, including, without limitation, reasonable attorney’s fees,
arising out of or occurring in connection with any negligent act or omission of Landlord or Landlord Parties or any breach by
Landlord of any of Landlord’s duties, representations, warranties or covenants under this Lease. This indemnity and hold
harmless agreement shall include indemnity against all expenses and liabilities incurred in or in connection with any such claim
or proceeding brought thereon, and the defense thereof with counsel selected by Tenant or counsel selected by an insurance company
which has accepted the defense of any such claim. Landlord’s indemnification obligations as set forth above shall survive
the expiration or earlier termination of the Lease.

 

16.3       Tenant’s
Insurance. During the Term, Tenant will take out and keep in force, at its expense, insurance with limits and with insurers
as it determines in its commercially reasonable discretion, which shall include: (a) property insurance insuring against loss
or damage thereto by fire and other casualties covered by the standard form of such property insurance available in the State
in which the Premises are located and (b) commercial general liability insurance that names Tenant as named insured and Landlord
and Landlord’s lender as additional insureds and contains a contractual liability endorsement.

 

16.4       Landlord’s
Insurance. At all times during the Term, Landlord shall maintain in full force and effect commercial general liability
insurance with limits and with insurers as it determines in its commercially reasonable discretion that names Tenant as an additional
insured covering any occurrence in, on or about the Building or its operations on the Entire Parcel.

 

16.5       Policy
Requirements. The company or companies writing any insurance which is required to take out and maintain or cause to be
taken out or maintained pursuant to this Section 16 hereof, shall be with a company or companies licensed or admitted to do business
in the state in which the Premises are located. Notwithstanding anything to the contrary contained herein, Tenant’s obligation
to carry insurance may be satisfied by coverage under a so-called blanket policy or policies of insurance provided (i) that the
Premises are covered, and (ii) the policy otherwise complies with the provisions of this Lease) and Tenant may self-insure, in
its sole discretion. Landlord shall name Tenant and any lender of Tenant’s secured by Tenant’s interest in the Premises
(or any improvements contained therein) of which Landlord has received notice as an additional insured on Landlord’s commercial
general liability policy or policies required to be carried hereunder. Landlord and any lender of Landlord secured by Landlord’s
interest in the Premises of which Tenant has received notice shall be an additional insured on Tenant’s commercial general
liability policy or policies required to be carried pursuant to this Lease, as respects insurable liabilities assumed by Tenant
under this Lease. If obtainable, each such policy shall also contain a provision by which the insurer agrees that such policy
shall not be canceled except after thirty (30) days’ written notice. A certificate of each such policy, shall be deposited
with Landlord by Tenant promptly upon commencement of Tenant’s obligation or Tenant’s contractors to procure the same.
Additionally, Tenant and Landlord shall at all times during the Term and at least once annually provide each other with certificates
evidencing the insurance required by this Section 16 of this Lease. Where a policy obtained by Tenant or Landlord pursuant to
this Lease has a normal expiration date during the Term, written evidence of renewal shall be furnished to Landlord or Tenant,
as the case may be, five (5) days prior to such expiration (unless replaced by another policy or policies). With respect to the
Premises, any liability insurance carried by Tenant shall be deemed primary to any liability insurance carried by Landlord, as
respects insurable liabilities assumed by Tenant under this Lease. Any liability insurance carried by Landlord shall be deemed
primary to any liability insurance carried by Tenant. Each of Tenant and Landlord shall be named loss payees on any property damage
insurance carried by the other party.

 

     15

     

    

16.6       Failure
to Maintain Insurance. If Landlord or Tenant shall fail to carry the insurance in the names herein called for, or to pay
the premiums therefor, then in addition to any other right or remedy of the non-defaulting party, the non-defaulting party, after
fifteen (15) days’ notice from the non-defaulting party, the non-defaulting party may obtain such insurance on the defaulting
party’s behalf. The defaulting party shall reimburse the non-defaulting party for the costs within fifteen (15) days after
the defaulting party’s receipt of the non-defaulting party’s demand for the same accompanied by an invoice or other
documentation showing the amount of the subject premiums.

 

16.7       Waiver
of Subrogation. Notwithstanding any other provision in this Lease, in the event the Premises or its contents, are damaged
or destroyed by fire or other insured casualty, Landlord, to the extent of the coverage of Landlord’s policies of fire insurance
and endorsements as required above and as otherwise carried by Landlord, hereby waives its rights, if any, against Tenant with
respect to such damage or destruction, even if said damage or destruction shall have been caused, in whole or in part, by the
negligence of Tenant, its agents, servants, employees or contractors. Notwithstanding any other provision in this Lease, in the
event the Premises or its contents are damaged or destroyed by fire or other insured casualty, Tenant to the extent of coverage
of Tenant’s policies of fire insurance and endorsements as required above and as otherwise carried by Landlord, hereby waives
its right, if any, against Landlord with respect to such damage or destruction, even if said fire or other casualty shall have
been caused, in whole or in part, by the negligence of Landlord, its agents, servants, employees, or contractors. The property
insurance policies obtained by Landlord pursuant to Section 16.4 above and any property insurance obtained by Tenant for its Tenant
Improvements shall contain provisions (or endorsements if needed) allowing waiver of any right of subrogation which the insurer
may otherwise have against the non-insuring party. If Landlord’s or Tenant’s insurance carrier shall make a charge
for the incorporation of such waiver of subrogation in its policies, then the party requesting the waiver shall promptly pay such
charge to the other party, upon demand. In the event that party requesting the waiver fails to pay such charge upon demand, the
other party shall be released of its obligations to supply such waiver. If at any time, Landlord’s or Tenant’s insurance
carrier refuses to write insurance which contains a consent to the foregoing waiver of subrogation, Landlord or Tenant, as the
case may be, shall notify the other party in writing, and upon the giving of such notice, the provisions of this paragraph shall
be null and void as to any casualty which occurs after the date of such notice.

 

     16

     

    

17.          Casualty.

 

17.1       Termination
Option. Within one hundred twenty (120) days after any Substantial Destruction, Tenant shall have the right to terminate
this Lease. Substantial Destruction means damage or destruction to Tenant Improvements in an amount equal to thirty percent (30%)
or more of their replacement cost, as reasonably determined by Tenant.

 

17.2       Effect
of Termination. If this Lease is terminated pursuant to this Section 17, and Total Rent has been paid in full, Tenant
shall be entitled to all insurance proceeds received and remove the Building and debris from the Premises and surrender possession
thereof within ninety (90) days after notice of termination is duly given. If the Lease is terminated pursuant to this Section
17 and Total Rent has not been paid in full, Landlord shall be entitled to insurance proceeds for such casualty up to an amount
equal to the unpaid Total Rent and Tenant shall be entitled to the balance of such proceeds. In either case, thereafter all obligations
of either party hereunder, including any obligation of Tenant to pay Rent or other charges, shall terminate as of the date Tenant
vacates the Premises or ceased to do business thereon as a result of such destruction, whichever is earlier, except for the obligation
to maintain insurance until, and any indemnity obligation arising from events or circumstances occurring prior to, such surrender
of possession. The provisions of this Section shall survive the expiration or earlier termination of the Lease. The provisions
of this Lease relating to casualty constitute an express agreement between Landlord and Tenant with respect to any and all damage
to, or destruction of, all or any part of the Premises or the Building. As a result, any statute or regulation with respect to
any rights or obligations concerning damage or destruction in the absence of an express agreement between the parties, now or
hereafter in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises or
the Building.

 

18.          Condemnation.

 

18.1       Termination
After Taking. In the event all of the Premises shall be taken under any condemnation or eminent domain proceedings during
the Term hereof or are purchased in lieu thereof or if the remaining portion of the Premises shall not be suitable in the reasonable
judgment of Tenant for the uses and purposes for which the entire Premises are then being used by Tenant (collectively a “Taking”),
this Lease shall be deemed terminated. Additionally, in the event any portion of the Premises is subject to a Taking, and the
remaining portion of the Premises not so taken is unsuitable or inadequate for the uses and purposes for which they are then being
utilized by Tenant in the reasonable judgment of Tenant, then, and in any such event, Tenant at Tenant’s option may terminate
this Lease by giving Landlord thirty (30) days written notice to such effect, and this Lease shall terminate and be of no further
force and effect upon said date. The notice that may be given by Tenant herein to cancel and terminate this Lease shall be given
no later than thirty (30) days after the vesting of title in the applicable governmental body, or if possession has been granted
to said governmental body prior thereto, no later than thirty (30) days after actual possession has been taken by said governmental
body.

 

     17

     

    

18.2       No
Termination Taking. In the event that a portion of the Premises shall be lost to a Taking during the Term hereof; and
if (i) the remaining portion of the Premises not taken shall be suitable in the reasonable judgment of Tenant for the uses and
purposes for which the entire Premises are then being used by Tenant or (ii) Tenant elects not to terminate this Lease as provided
for above, then, and in any such event, this Lease shall remain in full force and effect as to such remaining portion.

 

18.3       Condemnation
Award. In the event there has been any Taking regardless of whether this Lease survives, the entire amount awarded or
paid for the Premises (collectively the “Award”) shall be apportioned entirely to Tenant.

 

18.4       Landlord’s
and Tenant’s Cooperation. Anything in this Lease to the contrary notwithstanding, Landlord and Tenant shall assist
and cooperate with each other in such condemnation or eminent domain proceedings. Neither Landlord nor Tenant will be responsible
for the litigation costs or the attorneys’ fees of the other in connection with any such proceeding.

 

19.       Tenant’s
Default.

 

19.1       Event
of Default Defined. Any one or more of the following events shall constitute an “Event of Default”: (i) Tenant
shall fail to pay Rent or other charges on or before the same becomes due hereunder, and such failure continues for ten (10) days
after written notice from Landlord thereof; or (ii) Tenant shall fail to perform or observe any other term or covenant contained
in this Lease for thirty (30) days after written notice from Landlord thereof unless such default is of such a nature that it
cannot be cured within such thirty (30) day period, in which event no Event of Default shall occur so long as Tenant shall commence
the curing of the default within such thirty (30) day period and shall thereafter promptly and diligently prosecute the curing
of the same.

 

19.2       Landlord’s
Remedies. In the Event of Default, Landlord may, at Landlord’s option and without limiting Landlord in the exercise
of any other right or remedy Landlord may have on account of such default, and without any further demand or notice, re-enter
the Premises and remove all persons therefrom, and terminate this Lease, or pursue any other remedy available to Landlord at law
or in equity, provided that Landlord shall not, upon the exercise of any remedy granted above or otherwise accruing to Landlord
upon a breach by Tenant of any covenant or obligation under this Lease, thereby obtain or secure any right, title or interest
in any of Tenant’s Personalty, including without limitation all interior and exterior signs and any other removable personal
property placed upon the Premises by Tenant.

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In
the event that Landlord shall elect to so terminate this Lease then Landlord may recover from Tenant:

 

(i)          The
worth at the time of award of the unpaid rent which had been earned at the time of termination;

 

(ii)         The
worth at the time of award of the amount by which the unpaid rent which would have been earned after termination until the time
of award exceeds the amount of such rental loss that the Tenant proves could have been reasonably avoided;

 

(iii)        The
worth at the time of award of the amount by which the unpaid rent for the balance of the term after the time of award (but in
no event for a period of more than five (5) years) exceeds the amount of such rental loss that the Tenant proves could be reasonably
avoided; and

 

(iv)        Any
other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its
obligations under the Lease or which in the ordinary course of things would be likely to result therefrom.

 

As
used in subparagraphs (i) and (ii) above, the “worth at the time of award” is computed by allowing interest at the
Interest Rate. As used in subparagraph (iii) above, the “worth at the time of award” is computed by discounting such
amount at a discount rate equal to the Interest Rate.

 

20.          Landlord
Default. Landlord shall be in default under this Lease if Landlord fails to: (a) pay any obligation of Landlord under
this Lease or any mortgage, trust deed, judgment, assessment, tax or other encumbrance affecting the Premises within ten (10)
days after receipt of notice from Tenant stating the obligation Landlord has failed to pay; or (b) perform any other act or acts
required of Landlord by this Lease and if such failure continues for thirty (30) days after receipt of notice from Tenant (provided
that if the obligation is such that it is not capable of being cured with said 30-day period Landlord shall not be in default
hereunder if it commences to cure such breach within thirty (30) days after receipt of notice from Tenant stating the obligation
Landlord has failed to perform, and thereafter Landlord diligently pursues the required performance to completion). In the event
of a default by Landlord, Tenant may pay or perform any obligation of Landlord, in addition to the right to exercise all other
legal and equitable remedies of Tenant. If Tenant elects to pay or perform any Landlord obligation, Landlord shall, within ten
(10) days of demand, reimburse Tenant the full amount paid or costs or expenses so incurred by Tenant. If Landlord fails to timely
pay or reimburse Tenant for any amount owed to Tenant under this Lease by Landlord (including any indemnification obligation under
Section 11.3, Section 29 or Section 30 hereof), Tenant may offset the amount so owed or to be reimbursed against Rent along with
interest at the Interest Rate plus three (3) percent until paid in full. Any such deduction or offset shall not constitute
a default in the payment of Rent unless Tenant shall fail to pay the amount of such deduction to Landlord within thirty (30) days
after final adjudication that such amount is owing to Landlord.

 

21.          Right
To Mortgage And Mortgagee’s Right To Cure Defaults.

 

21.1       Leasehold
Mortgage. Tenant shall have the right, at any time and from time to time, to mortgage this Lease as a whole or the leasehold
evidenced thereby or any undivided interest therein, notwithstanding that such mortgage may be placed in conjunction with other
properties of Tenant, and may be a part or portion of a blanket mortgage. Tenant’s right to mortgage shall include the right
to make assignments, by way of security or otherwise, of subleases and rents and shall further include the right to extend, modify,
renew, or replace any such mortgage from time to time.

 

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21.2       Mortgagee’s
Rights. In the event of any default under the provisions of this Lease, Landlord shall accept performance or payment by
the holder of any such mortgage of any term, covenant, condition, agreement, or payment on Tenant’s part herein provided
to be performed or paid, with the same force and effect as though performed or paid by Tenant. The holder of any such mortgage
may enforce such mortgage and acquire title to the leasehold estate in any lawful way and, pending foreclosure of such mortgage,
may take possession of and rent by its representative or by a receiver, as the case may be, the Premises, and upon foreclosure
of such mortgage or sale pursuant to a power of sale may, without further consent of Landlord, sell and assign the leasehold estate
or sublet the Premises or any part thereof. However, any person acquiring the leasehold estate assigned by such mortgages in consideration
of the extinguishment of the indebtedness thereby secured or through foreclosure sale shall be liable to perform the obligations
imposed on Tenant by the Lease; and such person shall execute an acceptance of the assignment resulting therefrom, agreeing to
perform all of the terms, conditions, covenants, and agreements contained in said Lease for the full Term hereof. As herein used,
the terms “foreclosure” and “foreclosure sale” shall each be construed to encompass the acquisition of
the leasehold estate by other than judicial proceedings, including the exercise of a power of sale contained in such mortgage.

 

22.          Holding
Over. In the event of any holding over without the written consent of Landlord beyond the end of the Term, this Lease
shall be deemed a monthly tenancy upon the covenants and conditions herein contained and upon the monthly rental in the amount
of $10,000.00.

 

23.          Mandatory
Arbitration; Consent to Jurisdiction; Governing Law; Waiver of Jury Trial.

 

23.1       Any
dispute, claim or controversy arising out of or relating to this Lease or the breach, termination, enforcement, interpretation
or validity thereof, including the determination of the scope or applicability of this agreement to arbitrate, shall be determined
by arbitration in [ ]or [ ]before one arbitrator. If Landlord and Tenant are unable or fail to agree upon the arbitrator within
30 days after the commencement of arbitration, the arbitrator shall be appointed by JAMS in accordance with its rules. All arbitrators
shall serve as neutral, independent and impartial arbitrators. Unless otherwise agreed by the Landlord and Tenant, the arbitration
shall be administered by JAMS pursuant to its Streamlined Arbitration Rules and Procedures. In any arbitration arising out of
or related to this Lease, the arbitrator shall award to the prevailing party, if any, the costs and attorneys’ fees reasonably
incurred by the prevailing party in connection with the arbitration. If the arbitrator determines a party to be the prevailing
party under circumstances where the prevailing party won on some but not all of the claims and counterclaims, the arbitrator may
award the prevailing party an appropriate percentage of the costs and attorneys’ fees reasonably incurred by the prevailing
party in connection with the arbitration. Judgment on the arbitration award may be entered in any court of competent jurisdiction.
The parties shall maintain the confidential nature of the arbitration proceeding and any award or decision, except as may be necessary
to prepare for or conduct the arbitration hearing on the merits, or except as may be necessary in connection with a court application
for a provisional remedy, enforcement of any arbitration award or decision in a court, a judicial challenge to the arbitration
award or its enforcement, or unless otherwise required by law, regulatory requirements or judicial decision. Before making any
such disclosure, a party shall give written notice to all other parties and shall afford them a reasonable opportunity to protect
their interests, except to the extent such disclosure is necessary to comply with applicable law, regulatory requirements or judicial
decision. This Section 23.1 shall not preclude parties from seeking provisional remedies in aid of arbitration from a court of
appropriate jurisdiction.

 

     20

     

    

(b)         Landlord
and Tenant each submits for itself and its property in any proceeding relating to this Lease, or for recognition and enforcement
of any award or judgment in respect thereof, to the nonexclusive general jurisdiction of any [              ] State court or federal court
of the United States of America sitting in [            ]or [           ], and any appellate court from any thereof.

 

(c)         Subject
to Section 43.3 with respect to questions of real property law, this Lease shall be construed and enforced in accordance with,
and all questions concerning the construction, validity, interpretation, and performance of this Agreement shall be governed by,
the laws of the State of New York, without giving effect to provisions thereof regarding conflict of laws. The parties hereto
knowingly, intentionally and voluntarily waive all right to trial by jury in any proceeding to enforce or defend any rights or
remedies arising under or in connection with this Lease.

 

24.          Vacancy
of Building. Landlord covenants with Tenant that Landlord shall use its best efforts to cause the Building to be fully
vacated (other than Tenant) as promptly as possible after the Commencement Date but in any event on or prior to March 31, 2022.

 

25.          Estoppel
Certificates. Each party within thirty (30) days after receipt of written notice from the other party will execute and
deliver to the other party a commercially reasonable estoppel certificate stating that this Lease is unmodified and in full force
and effect, or in full force and effect as modified, and stating the modifications and that there are no defaults under the Lease,
or stating the default and the nature thereof if defaults are claimed. The estoppel certificate also shall state the amount of
Minimum Annual Rent (to the extent specified herein or otherwise known) and the dates to which such Rent has been paid in advance.
Execution of the estoppel certificate will not constitute a waiver of claims by either party with respect to any default under
this Lease if the party executing the estoppel certificate is not aware of the default.

     21

     

    

 

26.          Notices.
All notices or demands of any kind which either party is required or desires to give or make upon the other in connection with
this Lease or arising out of the relationship created hereby, shall be in writing and shall be given or made (subject to the right
of either party to designate a different address by notice given as provided herein) by United States registered or certified
mail, postage prepaid, or by a nationally recognized overnight courier service which maintains delivery records, such as FedEx,
UPS, or DHL, addressed as follows:

 

If
to Landlord:

 

[          
] 

[          
] 

Attn:
[           ]                 Email: [           ] 

Attn:
[           ]

Email: [           ]

 

with
a copy to (which shall not constitute notice):

 

[          
] 

Attn:
   [           ] 

Email:
[           ]

 

If
to Tenant:

 

c/o
Mechanical Technology, Incorporated 

325
Washington Avenue Extension 

Albany,
NY 12205 

Attn:
Chief Financial Officer

 

with
a copy to (which shall not constitute notice):

 

Soluna
Technologies, Ltd. 

232
Madison Avenue, Suite 600 

New
York, New York 10016

 

-and-

 

Nixon
Peabody LLP 

70
W. Madison St., Suite 3500 

Chicago,
IL 60602 

Attn:
Robert A. Drobnak 

Email:
radrobnak@nixonpeabody.com

 

or
at such other place as either Landlord or Tenant may from time to time, respectively, designate in a written notice given to the
other. Any notice sent by overnight mail shall be deemed to have been given on the date of delivery confirmed by the courier service.

 

27.         Waiver.
No waiver of any default or breach of any covenant by either party hereunder shall be implied from any omission by either party
to take action on account of such default if such default persists or is repeated, and no express waiver shall affect any default
other than the default specified in the waiver, and then said waiver shall be operative only for the time and to the extent therein
stated. Waivers of any covenant, term, or condition contained herein by either party shall not be construed as a waiver of any
subsequent breach of the same covenant, term, or condition. The consent or approval by either party to, or of, any act by either
party requiring further consent or approval shall not be deemed to waive or render unnecessary such further or future consent
or approval.

 

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28.          Complete
Agreement. It is expressly agreed that this Lease contains all terms, covenants, conditions, warranties, and agreements
of the parties relating in any manner to the rental, use, and occupancy of the Premises, and that no prior agreement or understanding
pertaining to the same shall be valid or of any force or effect, and that the terms, covenants, conditions, and provisions of
this Lease cannot be altered, changed, modified, or added to, except by written agreement signed by the parties hereto.

 

29.          Hazardous
Materials.

 

29.1       Definitions.
The term “Hazardous Material” shall mean (a) any material, waste, pollutant, contaminant, hazardous or toxic
substance or waste, petroleum, petroleum-based substance or waste, special waste, or any constituent of any such substance or
waste, that is regulated by any governmental authority or for which liability or standards of care may be imposed pursuant to
applicable laws, including, but not limited to, any material or substance which is (1) defined as a “hazardous waste,”
“hazardous material,” “hazardous substance,” “extremely hazardous waste,” “special waste”
or “restricted hazardous waste” under any applicable laws, (2) asbestos or asbestos containing material, (3) polychlorinated
biphenyls, and (4) regulated radioactive material, (b) any per or polyfluoroalkyl substances, and (c) 1-4, dioxane. The term “Environmental
Law” means any federal, state or local law, ordinance, regulation, order, permit, license, decree, common law, or treaty
now or hereafter in force regulating, relating to or imposing liability or standards concerning Hazardous Materials or the protection
of health and safety, the environment or natural resources.

 

29.2       Indemnification.
Landlord shall protect, defend (with counsel selected by Landlord and reasonably acceptable to Tenant), indemnify and hold Tenant
harmless from any and all claims, losses or damage incurred by Tenant, including, without limitation, reasonable attorneys’
fees, following the Commencement Date resulting directly or indirectly from (a) the presence or release of Hazardous Materials
on or under the Premises (other than any Hazardous Materials released or first introduced to the Premises by Tenant or any of
its agents, employees or contractors) on or prior to the Commencement Date; (b) any material inaccuracy in any representation
or warranty given by Landlord hereunder with respect to Hazardous Materials, or (c) any acts by Landlord or the Landlord Parties
relating to or causing the existence of any Hazardous Materials on, in or under the Premises. Following the Commencement Date,
Tenant shall protect, defend (with counsel selected by Tenant and reasonably acceptable to Landlord), indemnify and hold harmless
Landlord and the Landlord Parties from any and all claims, losses or damage incurred by Landlord resulting directly or indirectly
from any use, presence, removal or disposal of any Hazardous Materials, to the extent such liability, obligation, damage or costs
was a result of actions caused or permitted by Tenant or any of its agents, employees or contractors. Landlord shall be responsible
at its sole cost for remediating or cleaning up any Hazardous Materials located on or under the Premises at any time for which
Tenant is not required to indemnify Landlord for hereunder to the extent (i) required by any governmental authority with jurisdiction
over the Premises or (ii) the same interferes with Tenant’s operation on the Premises; provided, however, such obligation
shall not apply to any costs arising out of, or related to, the demolition of the Building.

 

     23

     

    

30.          Indemnification.

 

30.1       Landlord
hereby agrees to indemnify, defend and hold harmless Tenant and its affiliates from and against any and all costs, expenses, liabilities,
claims, demands, suits, judgments and interest, including, without being limited to, reasonable attorneys’ fees and disbursements,
as a result of, arising out of or directly or indirectly relating to any of the following: (i) any events or circumstances occurring
at the Premises on or before the Commencement Date, (ii) any breach of, or inaccuracy in, any representation or warranty made
by Landlord in this Lease or in any other Transaction Document (including any schedule, annex or exhibit to any of the foregoing),
(iii) any civil or criminal forfeiture action with respect to the Premises or Building (including from any loss of use as a result
thereof) and (iv) any breach or violation of any covenant or other agreement of Landlord in this Lease or in any other Transaction
Document (including any schedule, annex or exhibit to any of the foregoing).

 

30.2       Tenant
hereby agrees to indemnify, defend and hold harmless Landlord and its affiliates from and against any and all costs, expenses,
liabilities, claims, demands, suits, judgments and interest, including, without being limited to, reasonable attorneys’
fees and disbursements, as a result of, arising out of or directly or indirectly relating to any of the following: (i) any events
or circumstances occurring at the Premises after the Commencement Date (other than any forfeiture of the Premises or Building),
(ii) any breach of, or inaccuracy in, any representation or warranty made by Tenant in this Lease or in any other Transaction
Document (including any schedule, annex or exhibit to any of the foregoing) and (iii) any breach or violation of any covenant
or other agreement of Tenant in this Lease or in any other Transaction Document (including any schedule, annex or exhibit to any
of the foregoing).

 

30.3       Each
of Tenant and Landlord represents and warrants to the other that it has not dealt with any broker or finder in connection with
this Lease and the Vacant Land Lease other than Broker. Tenant shall pay the amounts due to the Broker under the Tenant Broker
Agreement, and Landlord shall pay the amounts due to the Broker under the Landlord Broker Agreement. Landlord hereby agrees to
indemnify, defend and hold harmless Tenant from and against any and all costs, expenses, liabilities, claims, demands, suits,
judgments and interest, including, without being limited to, reasonable attorneys’ fees and disbursements, arising out of
or in connection with any claim by Broker with respect to this Lease and the Vacant Land Lease other than any claim with respect
to the Tenant Broker Agreement. Landlord and Tenant each covenant and agree to indemnify and hold harmless the other from and
against any and all costs, expenses, liabilities, claims, demands, suits, judgments and interest, including, without being limited
to, reasonable attorneys’ fees and disbursements, arising out of or in connection with any claim by any other broker or
agent with respect to this Lease and the Vacant Land Lease, the negotiation of this Lease and the Vacant Land Lease or the transactions
contemplated herein or therein based upon the acts of the indemnifying party.

 

     24

     

    

30.4       The
provisions of this Section 30 shall survive the expiration or earlier termination of this Lease.

 

31.         Memorandum
Of Lease. For the purpose of giving notice of Tenant’s rights to others dealing with any of the real property referred
to in this Lease, Landlord will execute, acknowledge, deliver to Tenant in the form attached hereto as Exhibit C (or other
form reasonably satisfactory to Tenant and Landlord) a “short form” or “memorandum” of this Lease, which
shall set forth any provisions of this Lease requested by Tenant. Landlord shall pay for any transfer taxes resulting from said
recordation and Tenant shall pay for all recording fees associated therewith.

 

32.         Assignment
And Subletting.

 

32.1       Permitted.
At any time, Tenant may, without Landlord’s consent, sublet the Premises or assign this Lease or any interest therein to
any Affiliate. Subject to the foregoing sentence, before Total Rent is paid in full, Tenant may not, without Landlord’s
prior written consent, sublet the Premises or assign this Lease or any interest therein to any Person whatsoever. After Total
Rent is paid in full, Tenant may, without Landlord’s consent, sublet the Premises or assign this Lease or any interest therein
to any Person whomsoever. No sublease or assignment permitted pursuant to this Section 32.1 shall release Tenant from any of its
obligations under this Lease unless (a) such sublease or assignment is after Total Rent is paid in full and (b) such sublease
or assignment is to an Affiliate of Tenant or to a non-Affiliated entity that has a tangible net worth equal to or greater than
the tangible net worth of Tenant on or about the date of assignment. If applicable, Tenant shall deliver certified financials
of both Tenant and assignee demonstrating the tangible net worth of each.

 

32.2       Procedures.
Should Tenant desire to enter into an assignment or sublease (a “Transfer”), Tenant shall, by no later than
ten (10) days prior to such Transfer, provide Landlord with written notice of its intent to do so via any manner permitted pursuant
to the “Notices” provision of this Lease.

 

33.         Subordination
And Non-Disturbance Agreements.

 

33.1       Landlord
agrees that this Lease shall be paramount to any mortgage or deed of trust now encumbering, or which may thereafter encumber,
the Premises and paramount to any and all advances to be made thereunder and to the interest thereon and all renewals, replacements,
and extensions thereof. Notwithstanding the above, however, if Landlord wishes to encumber the Premises and/or improvements covered
by this Lease by way of mortgage or deed of trust or to obtain additional advances thereunder or to renew, replace, or extend
the same (collectively, “Future Encumbrances”) and to subordinate this Lease thereto, Landlord shall be entitled
to do so as long as the holder of the mortgage or deed of trust (“Encumbrancer”) executes and delivers to Tenant
a Subordination, Non-Disturbance and Attornment Agreement (“SNDA”) in form and substance reasonably acceptable
to Tenant.

 

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33.2       Prior
to the Commencement Date, Landlord shall obtain and deliver to Tenant a non-disturbance agreement in form and substance reasonably
satisfactory to Tenant from the lienholder(s) (e.g. beneficiary, mortgagee, etc.) of all mortgage(s) or deed(s) of trust or similar
instrument(s) encumbering the Premises, if any, which encumbrance existed on or prior to the Effective Date (“Non-Disturbance
Agreement”).

 

34.         Representations
And Warranties.

 

34.1       Landlord.
Landlord makes the following representations and warranties for the benefit of Tenant:

 

34.1.1
Landlord is a limited liability company that has been duly organized and is validly existing and in good standing under the laws
of the State of Delaware and is authorized to do business and to own real property in the state in which the Premises is located;

 

34.1.2
Landlord has full power and right to enter into and perform its obligations under the Transaction Documents and this Lease is
binding on Landlord in accordance with its terms;

 

34.1.3
The execution and delivery of the Transaction Documents and the consummation of the transactions contemplated thereby (1) have
been duly authorized by all necessary action on the part of Landlord, (2) do not require any governmental or other consent (including
judicial consent) other than consents that have been obtained as of the Effective Date and remain in effect as of the Commencement
Date and (3) will not result in the breach of any agreement, indenture or other instrument to which Landlord is a party or is
otherwise bound;

 

34.1.4
Except as set forth on Schedule 34.1, there is no pending or, to the best of Landlord’s knowledge, threatened litigation,
proceeding or investigation (by any person, governmental or quasi-governmental agency or authority or otherwise) which might materially
adversely affect the ownership, use, occupancy, value, operation or title of the Premises;

 

34.1.5
Landlord is a “non-foreign person” within the meaning of Section 1445 of the United States Internal Revenue Code of
1986, as amended, and the regulations issued thereunder;

 

34.1.6
Landlord has a valid fee simple absolute estate in the Premises free and clear of all liens, conditions, covenants, restrictions,
rights of way, or regulations (“Exceptions”) other than those specified in Exhibit E hereto, and not
subject to any leases or tenancies other than the Hosting Services Agreement and the customers thereunder, and that Landlord shall
not enter into any leases and no additional encumbrances shall be recorded against the Premises absent the consent of Tenant;

 

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34.1.7
Landlord has no knowledge of (i) enacted, pending or proposed condemnation proceedings or other governmental action, (ii) pending
or threatened litigation or (iii) current or proposed plans to alter access to the Premises;

 

34.1.8
The Premises (including any parking areas or facilities) has been and is presently used and operated in compliance in all material
respects with, and in no material way violates any, applicable statute, law, regulation, rule, ordinance, order or permit of any
kind whatsoever affecting the Premises or any part thereof (“Applicable Laws”) or any matters of record

 

34.1.9
To Landlord’s knowledge, there are no Hazardous Materials present on the Premises (in soil, groundwater, or soil vapor)
in quantities or under conditions that would require investigation, removal, remediation, or other treatment under Environmental
Laws;

 

34.1.10
Landlord has not received in the past five (5) years any written orders of any governmental authority or other agreements exist
requiring Landlord or any other person to perform any remediation of any Hazardous Materials on, or migrating onto or from, the
Premises.

 

34.1.11
Except for those items described on Exhibit E hereto, there are no environmental easements or deed restrictions, on the
Premises that restrict the current or future uses of the Premises due to the presence of Hazardous Materials on the Premises.

 

34.1.12
Except as set forth on Schedule 34.1, the Premises are neither listed nor, to Landlord’s knowledge, after due inquiry, proposed
to be listed, by the United States Environmental Protection Agency or by any state or local government on any similar list of
known or suspected contaminated sites.

 

34.1.13
Landlord has provided to Tenant, electronically or otherwise, every material environmental report related to Hazardous Materials
at the Premises in possession or reasonable control of Landlord;

 

34.1.14
There are no underground storage tanks on the Premises;

 

34.1.15
There are no guaranties or warranties in favor of Landlord in effect with respect to the Premises;

 

34.1.16
There are no Specified Miners that are located at the Premises as of the Commencement Date other than as set forth on the Specified
Miner List;

 

34.1.17
(1) All of the agreements (written or oral and whether or not of record) presently solely affecting the Building to which the
Landlord is a party are set forth on Exhibit K attached hereto (the “Contracts”); (2) Landlord has heretofore
delivered to Tenant true and complete copies of each of the Contracts; (3) Landlord is not in default on any of its material obligations
under any of the Contracts and knows of no material default on the part of the other parties thereto; and (4) the Contracts represent
the complete agreement between Landlord and such other parties as to the services to be performed or materials to be provided
thereunder and the compensation to be paid for such services or materials, as applicable, and such other parties possess no unsatisfied
claim against Landlord;

 

     27

     

    

34.1.18
All of the material certificates, licenses and permits from governmental authorities required for the current ownership, use,
occupancy, operation and maintenance of the Building have been obtained by Landlord and are in full force and effect; and

 

34.1.19
All of the equipment and other personal property attached or appurtenant to, located on or used in connection with the ownership,
use, operation or maintenance of the Premises and/or the Building as of the Effective Date is included in the definition of “Systems”
determined as of the Commencement Date.

 

34.2       Tenant.
Tenant makes the following representations and warranties for the benefit of Landlord:

 

34.2.1
Tenant is duly incorporated or organized, as applicable, validly existing, in good standing in the state of its incorporation
or organization, as applicable, and has all requisite power and authority to own and lease property and conduct business in the
state where the Premises are located, and that each individual executing this Lease on behalf of Tenant is duly authorized to
execute and deliver this Lease on behalf of Tenant;

 

34.2.2
Tenant has full power and right to enter into and perform its obligations under the Transaction Documents and this Lease is binding
on Tenant in accordance with its terms;

 

34.2.3
The execution and delivery of the Transaction Documents and the consummation of the transactions contemplated thereby (1) have
been duly authorized by all necessary action on the part of Tenant, (2) do not require any governmental or other consent and (3)
will not result in the breach of any agreement, indenture or other instrument to which Tenant is a party or is otherwise bound;
and

 

34.2.4
There is no action, suit or proceeding pending or, to the best of Tenant’s knowledge, threatened against Tenant in any court
or by or before any other governmental agency or instrumentality which would materially and adversely affect the ability of Tenant
to carry out the transactions contemplated by this Lease.

 

35.         Covenant
Of Quiet Enjoyment. Subject to Tenant paying the Total Rent or any other sums herein provided and performing all the covenants
and conditions of this Lease on its part to be performed, Tenant shall and may peaceably and quietly have, hold and enjoy the
Premises during the Term hereof. Landlord shall not perform or permit any activities at or near the Premises which unreasonably
disturb Tenant’s business operations.

 

     28

     

    

36.         Unavoidable
Delay. If either party shall be prevented or delayed from punctually performing any obligations or satisfying any condition
under this Lease by any strike, lockout, labor dispute, unavailability of services, labor or materials, acts of God, unusually
inclement weather, unusual governmental restriction or delay, regulation or control, enemy or hostile governmental action, civil
commotion, insurrection, sabotage, fire or other casualty, epidemic or pandemic or any condition caused by the other party (an
“Unavoidable Delay”), then the time to perform such obligation or to satisfy such condition shall be extended
on a day-for-day basis for the period of the delay caused by such event; provided, however, that the party claiming the benefit
of this Section shall, as a condition thereto, give notice to the other party in writing within ten (10) days of the incident
specifying with particularity the nature thereof, the reason therefor, the date and time such incident occurred and a reasonable
estimate of the period that such incident will delay the fulfillment of obligations contained herein. Failure to give such notice
within the specified time shall render such delay invalid in extending the time for performing the obligations hereunder, but
only to the extent that the other party suffers actual prejudice as a result thereof. This Section shall not apply to the inability
to pay any sum of money due hereunder or the failure to perform any other obligation due to the lack of money or inability to
raise capital or borrow for any purpose.

 

37.         Landlord’s
Cooperation. Landlord will cooperate with Tenant in all matters relative to the Premises, including required municipal
consents and permits, and will execute all papers proper or necessary in connection therewith, subject to the limitations in Section
8.1 above.

 

38.         Publicity.
Landlord and Tenant shall, prior to the Commencement Date, maintain the confidentiality of this transaction and shall not, except
as required by law, court order or direction of any governmental authority, disclose the terms of this Lease or of such lease
to any third parties whomsoever other than investors or prospective investors in Landlord, Tenant, Parent or the principals of
the Broker, Title Company and such other persons whose assistance is required in carrying out the terms of this Lease. If Landlord,
Parent or Tenant is required by law, court order or any governmental authority or otherwise desires to issue such a press release
or other public communication concerning this Lease prior to the Commencement Date, such party shall deliver a copy of the proposed
press release or other public communication to the other party for its review at least three (3) business days prior to its issuance
(other than the initial press release and other initial public communications which shall only be required to be delivered to
the other party with as much advance notice prior to the issuance of such initial communications as is commercially reasonable).

 

39.         Binding
Covenants On Successors.

 

39.1       Each
and all of the covenants, provisions, and conditions of this Lease to be performed by or on the part of Landlord, whether affirmative
or negative in nature, are intended to and shall bind Landlord, its successors, and assigns at any time and from time to time
and shall inure to the benefit of Tenant, its successors, tenants, and assigns, and such covenants, provisions, and conditions
are intended to be for the benefit of Tenant and the Premises.

 

     29

     

    

39.2       Each
and all of the covenants, provisions, and conditions of this Lease to be performed by or on the part of Tenant, whether to be
performed on or in the Premises and whether affirmative or negative in nature, are intended to and shall bind Tenant, its successors,
sublessees, and assigns, and such covenants, provisions, and conditions are intended to be for the benefit of Landlord.

 

40.         Landlord
Transfers. If Landlord’s interest in the Premises is sold or conveyed, other than pursuant to a mortgage or transfer
for security purposes only, Landlord will be relieved of all obligations and liabilities accruing on the part of Landlord after
the date the sale is consummated if the following conditions are satisfied. All obligations of Landlord under the Lease must be
expressly assumed in writing by Landlord’s successor in interest. This Lease will not be affected by any such sale. Tenant
agrees to attorn to the purchaser or assignee, if (i) all of Landlord’s obligations under this Lease are assumed in writing
by the transferee, and (ii) Landlord is not in default at the date of such transfer.

 

41.         Compliance
With Laws.

 

41.1       Tenant’s
Compliance with Law Obligations. Tenant agrees at its own expense to comply with all Laws affecting Tenant’s use
or occupancy of the Premises, except that Tenant shall have no responsibility to correct or remedy (i) any violations of Laws
related in any way to the Premises existing on or prior to the Commencement Date, (ii) any violations of Laws caused by the action
or inaction of Landlord, or its employees, agents or contractors, or (iii) any violations of Laws related to the existence of
Hazardous Materials on the Premises except as expressly provided elsewhere in this Lease. Tenant may at its own expense contest
by appropriate legal proceedings the validity of any Law affecting Tenant’s use and occupancy of the Premises. If compliance
therewith may be legally held in abeyance during such contest without subjecting Landlord or Tenant to liability for failure to
comply, Tenant may postpone compliance until the final determination of any such proceedings.

 

41.2       Landlord’s
Compliance with Law Obligations. Except for the obligation of Tenant under Section 41.1, Landlord shall at all times comply,
or cause compliance with, the requirements of all Laws with respect to the Premises, and shall make any alteration, addition,
or change required to be made under such Laws.

 

42.         Signs
and Satellite Dishes. Subject to Tenant receiving all required governmental permits and approvals, Tenant shall have the
right to install any signage and/or satellite dishes at the Premises including on any Building.

 

43.         Miscellaneous
Provisions.

 

43.1       Construction.
Both parties certify to their full familiarity with the provisions hereof and agree that the provisions hereof are not to be construed
either for or against either party.

 

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43.2       Parties
Unrelated. Nothing herein contained shall be deemed for any purpose as creating any relation between the parties hereto
other than the relationship of Landlord and Tenant.

 

43.3       Governing
Law. Except as otherwise expressly provided herein, this Lease shall be governed exclusively by the provisions hereof
and, solely with respect to questions of real property law, by the laws of the state where the Premises is located as the same
from time to time exist.

 

43.4       Number/Gender.
As used in this Lease and when required by the context, each number (singular and plural) shall include all numbers, and each
gender shall include all genders.

 

43.5       Severability.
The unenforceability, invalidity, or illegality of any provision shall not render the other provisions unenforceable, invalid
or illegal.

 

43.6       Captions.
Captions of Section and parts of this Lease are for convenience only and shall not be considered in resolving any questions of
interpretation or construction.

 

43.7       Covenants.
Whenever in the Lease words of obligation or duty are used, such words shall have the force and effect of covenants, subject in
each case to grace periods provided. Any obligation imposed by either party hereto shall include the imposition on such party
of the obligation to pay all costs and expenses necessary to perform such obligation.

 

43.8       Special
Damages. Under no circumstances whatsoever shall Landlord or Tenant ever be liable hereunder for consequential, punitive
or special damages.

 

43.9       Exhibits.
Exhibits attached hereto are made a part hereof by this reference.

 

44.         Confidentiality.

 

44.1       Confidentiality
Obligations. Tenant acknowledges and agrees that it is bound by the terms of the Confidentiality Agreement which will
remain in full force and effect from and after the date of this Lease and that Tenant will, and will cause its Representatives
to, comply with the terms and conditions of the Confidentiality Agreement with respect to any access to or information of Landlord
or its Affiliates. If this Lease is properly terminated for any reason, the Confidentiality Agreement and the provisions of this
Section 44 will continue in full force and effect for the remaining term of the Confidentiality Agreement.

 

44.2       Definitions
for this Section 44 only.

 

44.2.1
“Confidentiality Agreement” means the Confidentiality Agreement between Parent and Landlord dated February
1, 2021.

 

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44.2.2
“Representatives” means, with respect to any Person, such Person’s Affiliates and its and their respective
directors, officers, employees, agents, auditors, counsel, investment bankers and other advisors.

 

(signature
page follows)

 

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IN
WITNESS WHEREOF, the parties hereto have executed this Lease on the date set forth above.

 

	TENANT:	LANDLORD:
	 	 
	EcoChain Block LLC	[                 ]

	 	 	By:	 

	By: 	 	 	 	Name:	 

	 	Name:	 	 	 	Its:	 

	 	Its:	 	 	 	 	 

  

     33

     

    

SCHEDULE
34.1

 

In
connection with the exceptions detailed in Section 34.1.4, Landlord discloses that its parent companies,
[           ]. and
[           ] are named defendants in a lawsuit entitled
[           ], [
           ], pending in the Court of Chancery in the State of Delaware,
where Plaintiff has sought, inter alia, damages, an accounting, a constructive trust, and other forms of relief. Landlord further
discloses that the United States has brought forfeiture proceedings against some assets owned by its ultimate beneficial owners in
relation to the activities of [            ] and that there is an
investigation ongoing into these activities.

 

In
connection with the exceptions detailed in Section 34.1.12, Landlord discloses that, based on ongoing studies in the vicinity
of the Entire Parcel, the [            ] Department of Environmental Protection ([            ]) has requested a formal Site Characterization to be
performed pertaining to old industrial fill placed on site. This document was prepared in good faith and is currently being reviewed
by the [            ]. Although the outcome of the [            ] review is undetermined at this time, it is expected that the management of this material
in-place will be recommended. Management of the site may also include some form of deed restrictions and special designation such
as Superfund or Superfund Alternative. The ultimate outcome will not be known until all parties agree to a mutual course of action.Exhibit
10.2

 

EXECUTION
COPY

 

GROUND
LEASE AGREEMENT (VACANT LAND)

 

THIS
GROUND LEASE AGREEMENT (VACANT LAND) (this “Lease”) is made and entered into by and between [       ]
(the “Landlord”), and EcoChain Block LLC (the “Tenant”) and is dated May 3, 2021.

 

W
I T N E S S E T H:

 

WHEREAS,
Landlord is the owner of that certain real property (the “Entire Parcel”) in [       ],
legally described in Exhibit A;

 

WHEREAS,
a portion of the Entire Parcel is improved with Landlord’s industrial facility;

 

WHEREAS,
Landlord has excess vacant land that is a portion of the Entire Parcel as outlined on the Exhibit B (the “Premises”);

 

WHEREAS,
as of the Effective Date, the Premises is not a separate legal parcel and does not have a separate address; and

 

WHEREAS,
Landlord desires to lease to Tenant and Tenant desires to lease from Landlord the Premises.

 

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

 

1.              Defined
Terms. As used herein, the following terms shall have the meanings specified below:

 

1.1           
“Affiliate” means, with respect to a specified Person, a Person that directly, or indirectly through one or
more intermediaries, controls, is controlled by or is under common control with, the specified Person. In addition to the foregoing,
if the specified Person is an individual, the term “Affiliate” also includes (a) the individual’s spouse, (b)
the members of the immediate family (including parents, siblings and children) of the individual or of the individual’s
spouse and (c) any corporation, limited liability company, general or limited partnership, trust, association or other business
or investment entity that directly or indirectly, through one or more intermediaries controls, is controlled by or is under common
control with any of the foregoing individuals. For purposes of this definition, the term “control” (including the
terms “controlling,” “controlled by” and “under common control with”) means the possession,
direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through
the ownership of voting securities, by contract or otherwise.

 

1.2           
“Applicable Laws” shall have the meaning set forth in Section 34.1.7 of this Lease.

 

1.3           
“Broker” shall mean [       ].

 

     

     

    

 

1.4           
“Building Ground Lease” means that ground lease by and between Landlord and Tenant with respect to another
portion of land owned by the Landlord.

 

1.5           
“Commencement Date” shall have the meaning set forth in Section 5 of this Lease.

 

1.6           
“Contracts” shall have the meaning set forth in Section 34.1.15 of this Lease.

 

1.7           
“Easement Agreement” shall have the meaning set forth in Section 3.2.2 of this Lease.

 

1.8           
“Effective Date” means the first date on which this Lease has been executed by both Landlord and Tenant and
fully executed counterpart originals thereof delivered to each party.

 

1.9           
“Encumbrancer” has the meaning set forth in Section 33.1 of this Lease.

 

1.10         
“Environmental Law” has the meaning set forth in Section 29.1 of this Lease.

 

1.11         
“Environmental Report” has the meaning set forth in Section 3.2.4 of this Lease

 

1.12         
“Equipment Lease” has the meaning set forth in Section 8.4 of this Lease.

 

1.13         
“Equipment Lessor” has the meaning set forth in Section 8.4 of this Lease.

 

1.14         
“Exceptions” has the meaning set forth in Section 34.1.6 of this Lease.

 

1.15         
“Future Encumbrances” shall have the meaning set forth in Section 33.1 of this Lease.

 

1.16         
“Hazardous Materials” shall have the meaning set forth in Section 29.1 of this Lease.

 

1.17         
 “Initial Shares” shall have the meaning set forth in Section 3.1 of this Lease.

 

1.18         
“Initial Survey” shall have the meaning set forth in Section 7.5 of this Lease.

 

1.19         
“Interest Rate” means the rate per annum quoted in The Wall Street Journal as the Prime Rate (or a reasonably
equivalent publicly available and recognized resource in the event The Wall Street Journal ceases to quote such rate).

 

    2 

     

    

 

1.20         
“Landlord Broker Agreement” shall mean that certain Commission Agreement, dated as of April 6, 2021, by and
between Landlord and Broker.

 

1.21         
“Landlord Parties” shall have the meaning set forth in Section 16.1 of this Lease.

 

1.22         
“Law(s)” means all present and future federal, state, and local statutes, common law, ordinances, regulations,
orders, and other requirements of governmental authorities, including without limitation, building codes and the Americans with
Disabilities Act.

 

1.23         
“Lease Year” means (i) the Commencement Date through the last day of the month in which the first (1st)
anniversary of the Commencement Date occurs; (ii) each successive twelve (12) month period thereafter during the Term hereof;
and (iii) the portion of the calendar year in which this Lease terminates.

 

1.24         
“Leasehold Policy” shall have the meaning set forth in Section 3.2.3 of this Lease.

 

1.25         
“Memorandum of Lease” shall have the meaning set forth in Section 31 of this Lease.

 

1.26         
 “Minimum Annual Rent” shall have the meaning set forth in Section 6.1 of this Lease.

 

1.27         
“[       ]” means [       ].

 

1.28         
“Non-Disturbance Agreement” shall have the meaning set forth in Section 33.2 of this Lease.

 

1.29         
“Other Premises” shall have the meaning ascribed to the term “Premises” in the Building Ground
Lease.

 

1.30         
“Parent” has the meaning set forth in Section 3.1 of this Lease.

 

1.31         
“Parent Stock” shall have the meaning set forth in Section 3.1 of this Lease.

 

1.32         
“Parking Lot” shall have the meaning set forth in Section 10.1.1 of this Lease.

 

1.33         
“Parking Spaces” shall have the meaning set forth in Section 10.1.1 of this Lease.

 

1.34         
“Person” means an individual or an entity, including a corporation, limited liability company, general or limited
partnership, trust, association or other business or investment entity, or any governmental authority.

 

    3 

     

    

 

1.35         
“Personalty” means Tenant’s trade fixtures, furniture, equipment, signs, inventory and other personal
property located in or on the Premises.

 

1.36         
“Plat” shall have the meaning set forth in Section 7.5 of this Lease.

 

1.37         
“Power Supply Agreement” means that certain Power Supply Agreement by and between the Landlord and Tenant with
respect to Premises and the Other Premises.

 

1.38         
“Real Property Taxes” has the meaning set forth in Section 7 of this Lease.

 

1.39         
“Rent” has the meaning set forth in Section 6.1 of this Lease.

 

1.40         
“Share Agent” shall have the meaning set forth in Section 3.1 of this Lease.

 

1.41         
“SNDA” has the meaning set forth in Section 33.1 of this Lease.

 

1.42         
“Stormwater Liabilities” has the meaning set forth in Section 11.3 of this Lease.

 

1.43         
“Subdivision Plat” has the meaning set forth in Section 3.2.6 of this Lease.

 

1.44         
“Taking” has the meaning set forth in Section 18.1 of this Lease.

 

1.45         
“Tax Bill” has the meaning set forth in Section 7.4 of this Lease.

 

1.46         
“Tenant Broker Agreement” shall mean that certain Consulting Agreement by and between Tenant and Broker.

 

1.47         
“Tenant’s Improvement Work” or “Tenant Improvements” means the improvements that Tenant
may construct on the Premises pursuant to the applicable provisions of this Lease.

 

1.48         
“Tenant’s Tax Parcel” has the meaning set forth in Section 7.4 of this Lease.

 

1.49         
“Tenant TVA Contract” has the meaning set forth in Section 3.2.9 of this Lease.

 

1.50         
“Term” means twenty-five (25) Lease Years.

 

1.51         
“Title Company” has the meaning set forth in Section 3.2.3 of this Lease

 

1.52         
“Transfer” has the meaning set forth in Section 32.2 of this Lease.

 

1.53         
“TVA” means Tennessee Valley Authority.

 

    4 

     

    

 

1.54         
“TVA Contract” means that certain Firm Power and FPI Power Contact dated [       ],
and known as Contract No. [       ], as amended from time to time, pursuant to which, among
other things, TVA has agreed to deliver power to Landlord and Landlord has agreed to pay for such power for the Entire Parcel.

 

1.55         
“Unavoidable Delay” has the meaning set forth in Section 36.

 

2.             Lease
and Delivery of Premises.

 

2.1          
Landlord leases to Tenant and Tenant hires from Landlord the Premises for the Term and pursuant to all of the terms, covenants,
and conditions contained in this Lease.

 

2.2          
Landlord shall be responsible, at its sole cost and expense, for causing termination of all existing tenancies for any portion
of the Premises, if any.

 

2.3          
The Premises shall be delivered to Tenant and Tenant will accept the Premises in AS-IS WHERE-IS condition. Except as set forth
herein, Landlord has not made any representations or promises with respect to the physical condition of the Premises and/or the
permissible uses of the Premises. Tenant has inspected the Premises and agrees to accept the same "as is".

 

3.             Conditions
to Establishing Commencement Date.

 

3.1             
On the Commencement Date, Mechanical Technology, Incorporated (“Parent”), the indirect parent company of Tenant,
shall cause to be delivered to Landlord’s or Parent’s then existing securities broker or transfer agent or another
nationally recognized independent third party acceptable to Landlord (such securities broker, transfer agent or other third party,
“Share Agent”) a number of shares of common stock of Parent (“Parent Stock”) equal to 100,000
(such shares, the “Initial Shares”).

 

3.2          
Satisfaction of the following obligations are conditions precedent for Tenant’s obligations under this Lease that accrue
on or after the Commencement Date:

 

3.2.1
the occurrence of the Commencement Date (as defined in the Building Ground Lease);

 

3.2.2
receipt of an ingress and egress easement with respect to the Premises in the form annexed hereto as Exhibit F, duly executed
by Landlord (“Easement Agreement”);

 

3.2.3
receipt of a leasehold title policy (the “Leasehold Policy”) from a title company selected by Tenant (the “Title
Company”), based on a pro forma acceptable to Tenant;

 

3.2.4
receipt of an environmental report or reports from [       ] with respect to the Premises (the
“Environmental Report”, which Environmental Report may also include the Other Premises) in form and substance
acceptable to Tenant;

 

    5 

     

    

 

3.2.5
Tenant shall have been added as an additional insured under that certain Pollution Legal Liability Select Clean-Up Cost Cap Insurance
issued by American International Specialty Lines Insurance Company (now known as Chartis Specialty Insurance Company) with respect
to the Premises and Other Premises; provided that Tenant has timely provided all information requested by or on behalf of Landlord
necessary or appropriate to have Tenant named as an additional insured on such policy;

 

3.2.6
Landlord causing the recording of a final non-appealable subdivision plat in form reasonably acceptable to Landlord and Tenant
(the “Subdivision Plat”);

 

3.2.7
receipt of a memorandum of understanding with respect to the expansion of the Premises, in form and substance acceptable to Tenant,
duly executed by Landlord;

 

3.2.8
the representations and warranties of Landlord contained in this Lease shall be true and correct as of the Commencement Date;

 

3.2.9
receipt from TVA of written confirmation of the rate class and the associated terms and conditions for a separate power supply
contract to be entered into by TVA and Tenant after the Effective Date with respect to the Premises and the Other Premises that
is acceptable to Tenant (“Tenant TVA Contract”);

 

3.2.10
Landlord shall be in compliance with the terms and provisions of this Lease.

 

The
foregoing conditions are for the benefit only of Tenant and Tenant, in its sole discretion, may waive any or all of such conditions
and close under this Lease or agree, subject to Section 5 below, to extend the closing to provide additional time to satisfy any
hitherto unsatisfied conditions.

 

3.3          
Satisfaction of the following obligations are conditions precedent for Landlord’s obligations under this Lease that accrue
on or after the Commencement Date:

 

3.3.1
the occurrence of the Commencement Date (as defined in the Building Ground Lease);

 

3.3.2
Landlord causing the recording of the Subdivision Plat in the event the recording of such plat is a condition precedent to Landlord
and Tenant being legally permitted to enter into this Lease and/or in the event Tenant requires the recording of same;

 

3.3.3
the representations and warranties of Tenant contained in this Lease shall be true and correct as of the Commencement Date;

 

    6 

     

    

 

3.3.4
receipt of a written confirmation from TVA that the rate class for Landlord under either a new power supply agreement with TVA
or a modification of the TVA Contact, in each case to be negotiated after the Effective Date and after giving effect to the consummation
of the Tenant TVA Contract, will not be worse than the rate class under the TVA Contract as in effect on the Effective Date; and

 

3.3.5
Tenant shall be in compliance with the terms and provisions of this Lease.

 

The
foregoing conditions are for the benefit only of Landlord and Landlord, in its sole discretion, may waive any or all of such conditions
and close under this Lease or agree, subject to Section 5 below, to extend the closing to provide additional time to satisfy any
hitherto unsatisfied conditions.

 

Each
of Landlord and Tenant shall use best efforts to satisfy any applicable condition precedent set forth in Section 3.2 and Section
3.3. For sake of clarity, Tenant shall use best efforts to obtain the Leasehold Policy in the condition required and Landlord
shall use best efforts to record the Subdivision Plat.

 

4.             [Intentionally
omitted].

 

5.             Term.
The Term shall commence on the date (the “Commencement Date”) on which (i) all conditions precedent set forth
in Section 3 have been satisfied or waived and (ii) Landlord delivers possession of the Premises to Tenant and the Premises are
available to Tenant, free and clear of any other leases or occupants, except as expressly set forth herein. In the event the Commencement
Date has not occurred prior to one hundred eighty (180) days after the Effective Date, then either Tenant or Landlord, each, as
its sole and exclusive remedy, may terminate this Lease by providing notice to the other party at any time after expiration of
such 180-day period but prior to the date on which the Commencement Date occurs, and neither Landlord nor Tenant shall have any
obligation to the other party, except those obligations that specifically survive the termination of this Lease.

 

6.             Rent.

 

6.1          
Minimum Annual Rent. Commencing upon the Commencement Date, Tenant agrees to pay to Landlord annual rent in advance
without notice, abatement, deduction, or offset, except as expressly permitted herein, by the fifth (5th) day of each calendar
year (“Minimum Annual Rent”) in the amount of $10.00. Tenant shall have the right to prepay the Minimum Annual
Rent at any time. Any amount due from Tenant hereunder is “Rent”.

 

7.             Real
Property Taxes and Assessments.

 

7.1          
Tax Payment by Tenant. Tenant agrees to pay prior to delinquency all Real Property Taxes on the Premises and all
improvements thereon, commencing on the Commencement Date, directly to the taxing authority, except if the Premises is not a separate
tax parcel. In such a case, Tenant shall reimburse Landlord for Real Property Taxes relating to the Premises as specified in Section 7.4
below.

 

    7 

     

    

 

7.2          
Real Property Taxes Prorated. Any Real Property Taxes relating to a fiscal period, a part of which is not included
within the Term, shall be prorated so that Tenant shall pay only that portion thereof which relates to the tax period included
within the Term. In the event any Real Property Taxes (or any component thereof) may be paid in periodic installments, Tenant
may pay same over the longest possible period and Tenant shall be responsible only for those installments relating to the period
included within the Term.

 

7.3          
Contest. Tenant may contest the amount or validity of any Real Property Taxes which it is required to pay under
the terms of this Lease and may for such purpose institute proceedings in the name of the Landlord; provided, however, such proceedings
shall be at Tenant’s sole cost and expense. In the event Tenant obtains a refund, such refund shall belong to Tenant.

 

7.4          
Tax Reimbursement. Unless the Premises are separately assessed as set forth in Section 7.5 below (with the
Real Property Taxes therefore payable directly by the Tenant to the taxing authority), Tenant shall reimburse Landlord for Tenant’s
proportionate share of Real Property Taxes levied or assessed against the Premises during the Term. Such Real Property Taxes shall
be reimbursed by Tenant to Landlord within thirty (30) days after receipt by Tenant from Landlord of official copies of the tax
bills in question, marked as paid by the proper authorities, along with calculations by Landlord detailing Tenant’s proportionate
share. Tenant shall not be required to share in the payment of any penalties, interest, late payment fees or the like resulting
from Landlord’s late payment of Real Property Taxes. Tenant’s proportionate share of Real Property Taxes shall be
an amount equal to the total of such taxes covered by the applicable tax bill (the “Tax Bill”) multiplied by
a fraction, the numerator of which shall be the square foot area of any buildings on the Premises and the denominator of which
shall be the square foot area of all buildings covered by the Tax Bill, provided if no building is constructed on the Premises
during any period related to a particular Tax Bill, then Tenant’s proportionate share shall be equitably determined based
on the square footage of the Premises relative to the square footage of the vacant land on the balance of the Entire Parcel plus
the square footage of any building on the Entire Parcel, with the parties agreeing to prorate such Tax Bill factoring in the value
of Entire Parcel based on, among other things, any buildings constructed on the Entire Parcel.

 

7.5          
Tenant’s Tax Parcel. To the extent not provided to Landlord prior to the Effective Date, Tenant will provide
to Landlord a proposed boundary survey for the Premises as soon as possible after the Effective Date (the “Initial Survey”).
Landlord shall have ten (10) business days after the later of the Effective Date or the delivery of the Initial Survey (or such
longer time as consented to by Tenant in writing) to propose changes to the Initial Survey otherwise it shall be deemed to have
accepted the Initial Survey. If Landlord does provide such proposed changes, the parties shall work in good faith to determine
the final boundary survey to be used as the legal description for the Premises. Within ten (10) business days after finalizing
the Initial Survey, Tenant, at its sole cost, shall prepare a minor subdivision plat (the “Plat”) based on
the Initial Survey that satisfies all requirements necessary for recording in the land records in the county in which the Premises
is located. Landlord, at Landlord’s sole cost, shall use the Plat to subdivide the Premises into a separate legal parcel
and cause the Premises to constitute a separate tax parcel (“Tenant’s Tax Parcel”) as soon as reasonably
possible thereafter.

 

    8 

     

    

 

7.6          
Reassessment. If the Premises is reassessed due to any transfer or conveyance of the same, or any interest therein,
by Landlord or Landlord’s successors and as a result thereof, the Real Property Taxes owed by Tenant hereunder are increased,
Landlord shall pay to Tenant prior to delinquency the amount of such increase for the fiscal year in which the increase first
becomes applicable and for each fiscal year thereafter, and Tenant shall not be responsible therefor, provided that if Tenant’s
Tax Parcel has been created, then Landlord shall pay to Tenant or provide the Tenant with a credit against rent otherwise next
due from Tenant, within thirty (30) days after written demand, the amount of such increase relating to Tenant’s Tax Parcel
and Tenant shall pay the Real Property Taxes directly to the taxing authority, as set forth above.

 

7.7          
Real Property Taxes Defined. For purposes of this Lease, “Real Property Taxes” mean (i) all real
property taxes levied against the Premises, and (ii) all general and special assessments levied against the Premises. Real
Property Taxes exclude municipal, county, state, or federal income, profits, gross receipts, renewal, or franchise tax or business
license tax of Landlord or any municipal, county, state, or federal estate, succession, inheritance, or transfer taxes of Landlord
or any fine, penalty, cost or interest related to Real Property Taxes levied as the result of the failure of Landlord to timely
pay the Real Property Taxes. If at any time during the Term, the Laws concerning the methods of real property taxation prevailing
at the Effective Date are changed so that a tax or excise on rents or any other such tax, however described, is levied or assessed
against Landlord as a direct substitution in whole or in part for any Real Property Taxes, Tenant shall pay before delinquency
(but only to the extent that it can be ascertained that there has been a substitution and that as a result Tenant has been relieved
from the payment of Real Property Taxes it would otherwise been obligated to pay) the applicable portion of the substitute tax
or excise on rents.

 

8.             Alterations
and Removal; Fixtures and Personal Property.

 

8.1          
Tenant Alterations. Tenant from time to time without Landlord’s consent may make such alterations, improvements,
repairs, and additions to and upon the Premises and may install therein such Personalty and other property as it may consider
advisable. Without limiting the foregoing, Tenant may, at its sole election, construct a new building. In connection therewith,
Tenant shall, at Tenant’s expense, apply for any building permits required for the construction thereof. In connection therewith,
at the request and expense of Tenant, Landlord shall: (a) cooperate to the extent necessary to obtain any required permits;
(b) join with Tenant in all applications and proceedings; (c) agree (under a separate agreement to be negotiated in good
faith by Landlord and Tenant) to allow Tenant to connect all sanitary wastewater systems of any building and all other alterations,
improvements and additions to the Premises to the existing sanitary wastewater treatment and disposal system maintained by Landlord
on the Entire Parcel; and (d) execute all agreements, easements and dedications required by government agencies, as a condition
to the issuance of such permits but only to the extent any such agreements, easements and/or dedications (i) affect only the Premises
or affect any other portion of the Entire Parcel in a non-material manner and (ii) do not affect the operation of Landlord’s
business in any materially adverse manner.

 

    9 

     

    

 

8.2          
Approval Rights. Landlord shall have approval rights of any final plans submitted by Tenant in connection with the
construction of any improvements on the Premises, such approval not to be unreasonably withheld, conditioned or delayed.

 

8.3          
Tenant’s Personalty. All of Tenant’s Personalty shall remain the property of Tenant. At any time during
or at the expiration of the Term or earlier termination of this Lease, Tenant may, but shall not be obligated to, remove any and
all such Personalty. Such removal shall be performed in a good and workmanlike manner and Tenant shall repair any damage to the
Premises resulting from the removal of such aforementioned items.

 

8.4          
Equipment Lease. Landlord waives any statutory landlord’s lien, which it may now have or hereafter acquire
and any attachment right resulting from any failure to pay Rent or other default, on the Personalty. Landlord acknowledges and
agrees that Tenant’s Personalty may be leased from an equipment lessor or encumbered by Tenant’s lender (collectively,
“Equipment Lessor”) and that Tenant may execute and enter into an equipment lease or security agreement with
respect to such Personalty (“Equipment Lease”). If and to the extent required by any Equipment Lease or Equipment
Lessor, Landlord shall execute and deliver to the Equipment Lessor a written consent or acknowledgment, in recordable form and
in scope and substance satisfactory to such Equipment Lessor in which Landlord (i) acknowledges and agrees that the Personalty
which is the subject of the Equipment Lease constitutes the personal property of Tenant, and shall not be considered to be part
of the Premises, regardless of whether or by what means they become attached thereto, (ii) agrees that it shall not claim
any interest in such Personalty, and (iii) agrees that Equipment Lessor may enter the Premises for the purpose of exercising
any rights it may have under the provisions of the Equipment Lease, including the right to remove such Personalty, provided that
such Equipment Lessor removes the Personalty no later than the termination of the Lease and agrees to repair any damage resulting
from such removal.

 

9.             
Surrender of Premises. Tenant shall surrender and deliver up the Premises, and all Tenant Improvements thereon that
remain after any removal of any portion thereof by Tenant, to Landlord at the expiration or other termination of this Lease in
AS-IS condition, without representation or warranty.

 

10.           Parking.

 

10.1.1
During the Term, Landlord shall at all times provide for the use of Tenant, its employees, agents, guests and invitees of fifteen
(15) unassigned parking spaces (the “Parking Spaces”) in the surface parking area located on the Entire Parcel
to the northwest of the Premises (the “Parking Lot”), and the use of driveways of and pedestrian access to
the Parking Lot; provided, that the number of such Parking Spaces shall be reduced by the number of parking spaces on a
paved area granted to Tenant under the Easement Agreement or other written agreement reasonably acceptable to Tenant. The Parking
Spaces are provided for no additional charge.

 

    10 

     

    

 

10.1.2
Landlord, at Landlord’s sole cost and expense, shall maintain in a commercially reasonable condition (and replace when Landlord
deems it reasonably necessary) any asphalt and similar improvements from time to time located upon the Parking Lot, and shall
arrange for snow removal and other maintenance of the Parking Lot in a commercially reasonable manner

 

10.1.3
Landlord shall have no liability whatsoever for any property damage or personal injury which might occur as a result of, or in
connection with, the use of the Parking Spaces or the Parking Lot by Tenant, its employees, agents, guests and invitees. Tenant
hereby agrees to indemnify and hold Landlord and its affiliates harmless from and against any and all costs, claims, expenses,
or causes of action which Landlord may incur in connection with or arising out of the use of the Parking Spaces and the Parking
Lot by Tenant, its employees, agents, guests and invitees, except to the extent resulting or arising from the gross negligence
or willful misconduct of Landlord.

 

10.1.4
The number of Parking Spaces provided by Landlord in this Section 10 is not in addition to the number of parking spaces on the
Parking Lot provided by Landlord in Section 10 of the Building Ground Lease.

 

11.           Use
of Premises.

 

11.1        
Permitted Use. Subject to any restrictions of public record, Tenant may use the Premises for any industrial use
permitted by law, including blockchain mining and/or hosting services, provided such use does not materially adversely impact
the operation of Landlord’s business on the remainder of the Entire Parcel. Tenant will use and occupy the Premises and
appurtenances in a careful, safe and proper manner, and shall comply with the lawful requirements of the proper public authorities
regarding the conduct of Tenant’s business. Tenant will not permit the Premises to be used for any unlawful purpose or create
a waste or nuisance.

 

11.2        
No Covenant to Build or Operate. Tenant does not covenant to and Tenant shall have no obligation to build any improvement
on the Premises and/or to operate any business thereon.

 

11.3        
Stormwater. At all times during the Term, Landlord shall accept and treat all stormwater entering the Entire Parcel
from the Premises, and Tenant, at Landlord’s expense, shall reasonably cooperate with Landlord in its efforts to accept
and treat such water, including providing access to the Premises to comply with such obligations.. Landlord shall manage, treat
and discharge such stormwater in compliance with all applicable Laws, including Environmental Laws. Landlord shall indemnify,
defend and hold harmless Tenant and its affiliates from all costs, expenses, liabilities, claims, demands, suits, judgments, fines,
penalties, and interest (collectively, “Stormwater Liabilities”) arising from the management, treatment and
discharge of stormwater from the Premises, except to the extent that Landlord can reasonably demonstrate that such Stormwater
Liabilities arise due to contaminants in such stormwater that are solely attributable to Tenant’s operations at the Premises.

 

    11 

     

    

 

12.           Maintenance
And Repair. Tenant shall keep the Premises free from accumulation of waste materials and rubbish and maintain it in a
safe condition.

 

13.           Utilities.
Tenant shall be responsible for the payment of all water, gas, electricity, and other utilities used by or supplied to Tenant
for its exclusive use in the Premises. Tenant shall make application for, arrange for, pay for (directly to such utility) and
be solely responsible for all charges for utility services for the Premises, except that Landlord shall be solely responsible
for the payment of any imposition charged by applicable government jurisdictions or utility providers which are commonly referred
to as (or are similar to) connection charges, availability fees, tie-in fees, meter fees or charges, impact charges, initial connection
or so-called “tap-in” fees and development fees. Tenant shall be entitled at its expense to have additional utility
service capacity installed or made available for its use at the Premises. To the extent any utilities services provided to Tenant
are not separately metered directly with the providing utility, the parties shall equitably allocate the charges for such services,
and Tenant shall reimburse Landlord any expenses directly related to such Tenant’s utility service within thirty (30) days
after Landlord provides Tenant an invoice for such expense. In the event of a conflict between the Power Supply Agreement and
this Section 13, the terms of the Power Supply Agreement shall govern and control.

 

14.           Inspection
of Premises. Landlord shall have the right to enter upon the Premises for the purposes of inspection, serving or posting
notices, or complying with Laws. Landlord shall exercise such rights reasonably, upon not less than 24 hours’ notice and
in such manner as not to interfere unreasonably with the business of Tenant.

 

15.           Liens.
Except for such as may be contested in good faith, Tenant will promptly pay and discharge any and all claims for work or labor
done or supplies furnished or services rendered at the request of Tenant and shall keep the Premises free and clear of all mechanics’
and materialmen’s liens in connection therewith. Landlord shall be notified by Tenant prior to the commencement of any work
to be done or materials to be supplied to the Premises in order to permit the Landlord to post any notice of non responsibility
that is authorized under the Laws of the State of [       ]. In the event a mechanic’s
lien is recorded against the Premises, which is not caused by the acts or omissions of Tenant or any contractor or supplier hired
or retained by Tenant, Landlord shall indemnify, defend and hold Tenant harmless from all costs, losses, damages or causes of
action arising from any such lien.

 

16.           Indemnity
and Insurance.

 

16.1        
Tenant’s Indemnity. Tenant shall indemnify, defend and hold Landlord and Landlord’s affiliates and their
respective officers, directors, members, agents, servants, employees, and independent contractors (collectively the “Landlord
Parties”) harmless from and against any and all costs, loss, damage or expense arising out of death of or injury to
persons, or loss of or damage to property in connection with the entry onto the Premises by Tenant or its agents, employees, or
contractors on and after the Commencement Date, except and to the extent that any such loss, cost, damage or expense arising out
of death of or injury to persons, or loss of or damage to property is caused by or results from the acts or omissions of Landlord
or Landlord Parties. This indemnity and hold harmless agreement shall include indemnity against all expenses and liabilities incurred
in or in connection with any such claim or proceeding brought thereon, and the defense thereof with counsel selected by Landlord
or counsel selected by an insurance company which has accepted liability of any such claim. Tenant’s indemnification shall
survive the expiration or earlier termination of the Lease.

 

    12 

     

    

 

16.2        
Landlord’s Indemnity. Landlord shall indemnify, defend, and hold harmless Tenant, along with Tenant’s
affiliates and the officers, directors, employees and agents of each, from and against any and all claims, demands, liabilities,
fines, suits, actions, proceedings, orders, decrees, judgments, losses, damages, costs and expenses, including, without limitation,
reasonable attorney’s fees, arising out of or occurring in connection with any negligent act or omission of Landlord or
Landlord Parties or any breach by Landlord of any of Landlord’s duties, representations, warranties or covenants under this
Lease. This indemnity and hold harmless agreement shall include indemnity against all expenses and liabilities incurred in or
in connection with any such claim or proceeding brought thereon, and the defense thereof with counsel selected by Tenant or counsel
selected by an insurance company which has accepted the defense of any such claim. Landlord’s indemnification obligations
as set forth above shall survive the expiration or earlier termination of the Lease.

 

16.3        
Tenant’s Insurance. During the Term, Tenant will take out and keep in force, at its expense, insurance with
limits and with insurers as it determines in its commercially reasonable discretion, which shall include: (a) property insurance,
insuring against loss or damage thereto by fire and other casualties covered by the standard form of such property insurance available
in the State in which the Premises are located; and (b) commercial general liability insurance that names Tenant as named insured
and Landlord and Landlord’s lender as additional insureds and contains a contractual liability endorsement.

 

16.4        
Landlord’s Insurance. At all times during the Term, Landlord shall maintain in full force and effect commercial
general liability insurance with limits and with insurers as it determines in its commercially reasonable discretion that names
Tenant as an additional insured covering any occurrence related to Landlord’s operations on the Entire Parcel.

 

16.5        
Policy Requirements. The company or companies writing any insurance which is required to take out and maintain or
cause to be taken out or maintained pursuant to this Section 16 hereof, shall be with a company or companies licensed or
admitted to do business in the state in which the Premises are located. Notwithstanding anything to the contrary contained herein,
Tenant’s obligation to carry insurance may be satisfied by coverage under a so-called blanket policy or policies of insurance
provided (i) that the Premises are covered, and (ii) the policy otherwise complies with the provisions of this Lease)
and Tenant may self-insure, in its sole discretion. Landlord shall name Tenant and any lender of Tenant’s secured by Tenant’s
interest in the Premises (or any improvements contained therein) of which Landlord has received notice as an additional insured
on Landlord’s commercial general liability policy or policies required to be carried hereunder. Landlord and any lender
of Landlord secured by Landlord’s interest in the Premises of which Tenant has received notice shall be an additional insured
on Tenant’s commercial general liability policy or policies required to be carried pursuant to this Lease, as respects insurable
liabilities assumed by Tenant under this Lease. If obtainable, each such policy shall also contain a provision by which the insurer
agrees that such policy shall not be canceled except after thirty (30) days’ written notice. A certificate of each such
policy, shall be deposited with Landlord by Tenant promptly upon commencement of Tenant’s obligation or Tenant’s contractors
to procure the same. Additionally, Tenant and Landlord shall at all times during the Term and at least once annually provide each
other with certificates evidencing the insurance required by this Section 16 of this Lease. Where a policy obtained by Tenant
or Landlord pursuant to this Lease has a normal expiration date during the Term, written evidence of renewal shall be furnished
to Landlord or Tenant, as the case may be, five (5) days prior to such expiration (unless replaced by another policy or policies).
With respect to the Premises, any liability insurance carried by Tenant shall be deemed primary to any liability insurance carried
by Landlord, as respects insurable liabilities assumed by Tenant under this Lease. Any liability insurance carried by Landlord
shall be deemed primary to any liability insurance carried by Tenant. Each of Tenant and Landlord shall be named loss payees on
any property damage insurance carried by the other party.

 

    13 

     

    

 

16.6        
Failure to Maintain Insurance. If Landlord or Tenant shall fail to carry the insurance in the names herein called
for, or to pay the premiums therefor, then in addition to any other right or remedy of the non-defaulting party, the non-defaulting
party, after fifteen (15) days’ notice from the non-defaulting party, the non-defaulting party may obtain such insurance
on the defaulting party’s behalf. The defaulting party shall reimburse the non-defaulting party for the costs within fifteen
(15) days after the defaulting party’s receipt of the non-defaulting party’s demand for the same accompanied by an
invoice or other documentation showing the amount of the subject premiums.

 

16.7        
Waiver of Subrogation. Notwithstanding any other provision in this Lease, in the event the Premises or its contents,
are damaged or destroyed by fire or other insured casualty, Landlord, to the extent of the coverage of Landlord’s policies
of fire insurance and endorsements as required above and as otherwise carried by Landlord, hereby waives its rights, if any, against
Tenant with respect to such damage or destruction, even if said damage or destruction shall have been caused, in whole or in part,
by the negligence of Tenant, its agents, servants, employees or contractors. Notwithstanding any other provision in this Lease,
in the event the Premises or its contents are damaged or destroyed by fire or other insured casualty, Tenant to the extent of
coverage of Tenant’s policies of fire insurance and endorsements as required above and as otherwise carried by Landlord,
hereby waives its right, if any, against Landlord with respect to such damage or destruction, even if said fire or other casualty
shall have been caused, in whole or in part, by the negligence of Landlord, its agents, servants, employees, or contractors. The
property insurance policies obtained by Landlord pursuant to Section 16.4 above and any property insurance obtained by Tenant
for its Tenant Improvements shall contain provisions (or endorsements if needed) allowing waiver of any right of subrogation which
the insurer may otherwise have against the non-insuring party. If Landlord’s or Tenant’s insurance carrier shall make
a charge for the incorporation of such waiver of subrogation in its policies, then the party requesting the waiver shall promptly
pay such charge to the other party, upon demand. In the event that party requesting the waiver fails to pay such charge upon demand,
the other party shall be released of its obligations to supply such waiver. If at any time, Landlord’s or Tenant’s
insurance carrier refuses to write insurance which contains a consent to the foregoing waiver of subrogation, Landlord or Tenant,
as the case may be, shall notify the other party in writing, and upon the giving of such notice, the provisions of this paragraph
shall be null and void as to any casualty which occurs after the date of such notice.

 

    14 

     

    

 

17.           Casualty.

 

17.1        
Termination Option. Within one hundred twenty (120) days after any Substantial Destruction, Tenant shall have the
right to terminate this Lease. Substantial Destruction means damage or destruction to Tenant Improvements in an amount equal to
thirty percent (30%) or more of their replacement cost, as reasonably determined by Tenant. In the event there are no Tenant Improvements,
Tenant shall not have the right to terminate this Lease under this Section 17.1.

 

17.2        
Effect of Termination. If this Lease is terminated pursuant to this Section 17, Tenant shall be entitled to
all insurance proceeds received and, if applicable, remove debris from the Premises and surrender possession thereof within ninety
(90) days after notice of termination is duly given and thereafter all obligations of either party hereunder, including any obligation
of Tenant to pay Rent or other charges, shall terminate as of the date Tenant vacates the Premises or ceased to do business thereon
as a result of such destruction, whichever is earlier, except for the obligation to maintain insurance until, and any indemnity
obligation arising from events or circumstances occurring prior to, such surrender of possession. The provisions of this Section shall
survive the expiration or earlier termination of the Lease. The provisions of this Lease relating to casualty constitute an express
agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises
or the Tenant Improvements. As a result, any statute or regulation with respect to any rights or obligations concerning damage
or destruction in the absence of an express agreement between the parties, now or hereafter in effect, shall have no application
to this Lease or any damage or destruction to all or any part of the Premises or Tenant Improvements.

 

18.           Condemnation.

 

18.1        
Termination After Taking. In the event all of the Premises shall be taken under any condemnation or eminent domain
proceedings during the Term hereof or are purchased in lieu thereof or if the remaining portion of the Premises shall not be suitable
in the reasonable judgment of Tenant for the uses and purposes for which the entire Premises are then being used by Tenant (collectively
a “Taking”), this Lease shall be deemed terminated. Additionally, in the event any portion of the Premises
is subject to a Taking, and the remaining portion of the Premises not so taken is unsuitable or inadequate for the uses and purposes
for which they are then being utilized by Tenant in the reasonable judgment of Tenant, then, and in any such event, Tenant at
Tenant’s option may terminate this Lease by giving Landlord thirty (30) days written notice to such effect, and this Lease
shall terminate and be of no further force and effect upon said date. The notice that may be given by Tenant herein to cancel
and terminate this Lease shall be given no later than thirty (30) days after the vesting of title in the applicable governmental
body, or if possession has been granted to said governmental body prior thereto, no later than thirty (30) days after actual possession
has been taken by said governmental body.

 

    15 

     

    

 

18.2        
No Termination Taking. In the event that a portion of the Premises shall be lost to a Taking during the Term hereof;
and if (i) the remaining portion of the Premises not taken shall be suitable in the reasonable judgment of Tenant for the
uses and purposes for which the entire Premises are then being used by Tenant or (ii) Tenant elects not to terminate this
Lease as provided for above, then, and in any such event, this Lease shall remain in full force and effect as to such remaining
portion.

 

18.3        
Condemnation Award. In the event there has been any Taking regardless of whether this Lease survives, the entire
amount awarded or paid for the Premises (collectively the “Award”) shall be apportioned entirely to Tenant.

 

18.4        
Landlord’s and Tenant’s Cooperation. Anything in this Lease to the contrary notwithstanding, Landlord
and Tenant shall assist and cooperate with each other in such condemnation or eminent domain proceedings. Neither Landlord nor
Tenant will be responsible for the litigation costs or the attorneys’ fees of the other in connection with any such proceeding.

 

19.           Tenant’s
Default.

 

19.1        
Event of Default Defined. Any one or more of the following events shall constitute an “Event of Default”:
(i) Tenant shall fail to pay Rent or other charges on or before the same becomes due hereunder, and such failure continues
for ten (10) days after written notice from Landlord thereof; or (ii) Tenant shall fail to perform or observe any other term
or covenant contained in this Lease for thirty (30) days after written notice from Landlord thereof unless such default is of
such a nature that it cannot be cured within such thirty (30) day period, in which event no Event of Default shall occur so long
as Tenant shall commence the curing of the default within such thirty (30) day period and shall thereafter promptly and diligently
prosecute the curing of the same.

 

19.2        
Landlord’s Remedies. In the Event of Default, Landlord may, at Landlord’s option and without limiting
Landlord in the exercise of any other right or remedy Landlord may have on account of such default, and without any further demand
or notice, re-enter the Premises and remove all persons therefrom, and terminate this Lease, or pursue any other remedy available
to Landlord at law or in equity, provided that Landlord shall not, upon the exercise of any remedy granted above or otherwise
accruing to Landlord upon a breach by Tenant of any covenant or obligation under this Lease, thereby obtain or secure any right,
title or interest in any of Tenant’s Personalty, including without limitation all interior and exterior signs and any other
removable personal property placed upon the Premises by Tenant.

 

    16 

     

    

 

In
the event that Landlord shall elect to so terminate this Lease then Landlord may recover from Tenant:

 

(i)             The
worth at the time of award of the unpaid rent which had been earned at the time of termination;

 

(ii)            The
worth at the time of award of the amount by which the unpaid rent which would have been earned after termination until the time
of award exceeds the amount of such rental loss that the Tenant proves could have been reasonably avoided;

 

(iii)           The
worth at the time of award of the amount by which the unpaid rent for the balance of the term after the time of award (but in
no event for a period of more than five (5) years) exceeds the amount of such rental loss that the Tenant proves could be
reasonably avoided; and

 

(iv)           Any
other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its
obligations under the Lease or which in the ordinary course of things would be likely to result therefrom.

 

As
used in subparagraphs (i) and (ii) above, the “worth at the time of award” is computed by allowing interest
at the Interest Rate. As used in subparagraph (iii) above, the “worth at the time of award” is computed by discounting
such amount at a discount rate equal to the Interest Rate.

 

20.           Landlord
Default. Landlord shall be in default under this Lease if Landlord fails to: (a) pay any obligation of Landlord under
this Lease or any mortgage, trust deed, judgment, assessment, tax or other encumbrance affecting the Premises within ten (10)
days after receipt of notice from Tenant stating the obligation Landlord has failed to pay; or (b) perform any other act
or acts required of Landlord by this Lease and if such failure continues for thirty (30) days after receipt of notice from Tenant
(provided that if the obligation is such that it is not capable of being cured with said 30-day period Landlord shall not be in
default hereunder if it commences to cure such breach within thirty (30) days after receipt of notice from Tenant stating the
obligation Landlord has failed to perform, and thereafter Landlord diligently pursues the required performance to completion).
In the event of a default by Landlord, Tenant may pay or perform any obligation of Landlord, in addition to the right to exercise
all other legal and equitable remedies of Tenant. If Tenant elects to pay or perform any Landlord obligation, Landlord shall,
within ten (10) days of demand, reimburse Tenant the full amount paid or costs or expenses so incurred by Tenant. If Landlord
fails to timely pay or reimburse Tenant for any amount owed to Tenant under this Lease by Landlord (including any indemnification
obligation under Section 11.3, Section 29 or Section 30 hereof), Tenant may offset the amount so owed or to be reimbursed against
Rent along with interest at the Interest Rate plus three (3) percent until paid in full. Any such deduction or offset shall
not constitute a default in the payment of Rent unless Tenant shall fail to pay the amount of such deduction to Landlord within
thirty (30) days after final adjudication that such amount is owing to Landlord.

 

    17 

     

    

 

21.           Right
to Mortgage and Mortgagee’s Right to Cure Defaults.

 

21.1        
Leasehold Mortgage. Tenant shall have the right, at any time and from time to time, to mortgage this Lease as a
whole or the leasehold evidenced thereby or any undivided interest therein, notwithstanding that such mortgage may be placed in
conjunction with other properties of Tenant, and may be a part or portion of a blanket mortgage. Tenant’s right to mortgage
shall include the right to make assignments, by way of security or otherwise, of subleases and rents and shall further include
the right to extend, modify, renew, or replace any such mortgage from time to time.

 

21.2        
Mortgagee’s Rights. In the event of any default under the provisions of this Lease, Landlord shall accept
performance or payment by the holder of any such mortgage of any term, covenant, condition, agreement, or payment on Tenant’s
part herein provided to be performed or paid, with the same force and effect as though performed or paid by Tenant. The holder
of any such mortgage may enforce such mortgage and acquire title to the leasehold estate in any lawful way and, pending foreclosure
of such mortgage, may take possession of and rent by its representative or by a receiver, as the case may be, the Premises, and
upon foreclosure of such mortgage or sale pursuant to a power of sale may, without further consent of Landlord, sell and assign
the leasehold estate or sublet the Premises or any part thereof. However, any person acquiring the leasehold estate assigned by
such mortgages in consideration of the extinguishment of the indebtedness thereby secured or through foreclosure sale shall be
liable to perform the obligations imposed on Tenant by the Lease; and such person shall execute an acceptance of the assignment
resulting therefrom, agreeing to perform all of the terms, conditions, covenants, and agreements contained in said Lease for the
full Term hereof. As herein used, the terms “foreclosure” and “foreclosure sale” shall each be construed
to encompass the acquisition of the leasehold estate by other than judicial proceedings, including the exercise of a power of
sale contained in such mortgage.

 

22.           Holding
Over. In the event of any holding over without the written consent of Landlord beyond the end of the Term, this Lease
shall be deemed a monthly tenancy upon the covenants and conditions herein contained and upon the monthly rental in the amount
of $10,000.00.

 

23.           Mandatory
Arbitration; Consent to Jurisdiction; Governing Law; Waiver of Jury Trial.

 

23.1       Any
dispute, claim or controversy arising out of or relating to this Lease or the breach, termination, enforcement, interpretation or
validity thereof, including the determination of the scope or applicability of this agreement to arbitrate, shall be determined by
arbitration in [         ] or [         ] before one arbitrator.
If Landlord and Tenant are unable or fail to agree upon the arbitrator within 30 days after the commencement of arbitration, the
arbitrator shall be appointed by JAMS in accordance with its rules. All arbitrators shall serve as neutral, independent and
impartial arbitrators. Unless otherwise agreed by the Landlord and Tenant, the arbitration shall be administered by JAMS pursuant to
its Streamlined Arbitration Rules and Procedures. In any arbitration arising out of or related to this Lease, the arbitrator shall
award to the prevailing party, if any, the costs and attorneys’ fees reasonably incurred by the prevailing party in connection
with the arbitration. If the arbitrator determines a party to be the prevailing party under circumstances where the prevailing party
won on some but not all of the claims and counterclaims, the arbitrator may award the prevailing party an appropriate percentage of
the costs and attorneys’ fees reasonably incurred by the prevailing party in connection with the arbitration. Judgment on the
arbitration award may be entered in any court of competent jurisdiction. The parties shall maintain the confidential nature of the
arbitration proceeding and any award or decision, except as may be necessary to prepare for or conduct the arbitration hearing on
the merits, or except as may be necessary in connection with a court application for a provisional remedy, enforcement of any
arbitration award or decision in a court, a judicial challenge to the arbitration award or its enforcement, or unless otherwise
required by law, regulatory requirements or judicial decision. Before making any such disclosure, a party shall give written notice
to all other parties and shall afford them a reasonable opportunity to protect their interests, except to the extent such disclosure
is necessary to comply with applicable law, regulatory requirements or judicial decision. This Section 23.1 shall not preclude
parties from seeking provisional remedies in aid of arbitration from a court of appropriate jurisdiction.

 

    18 

     

    

 

(b)           Landlord
and Tenant each submits for itself and its property in any proceeding relating to this Lease, or for recognition and enforcement of
any award or judgment in respect thereof, to the nonexclusive general jurisdiction of any
[       ] State court or federal court of the United States of America sitting in
[       ] or [       ], and any appellate court from any
thereof.

 

(c)            Subject
to Section 43.3 with respect to questions of real property law, this Lease shall be construed and enforced in accordance with,
and all questions concerning the construction, validity, interpretation, and performance of this Agreement shall be governed by,
the laws of the State of New York, without giving effect to provisions thereof regarding conflict of laws. The parties hereto
knowingly, intentionally and voluntarily waive all right to trial by jury in any proceeding to enforce or defend any rights or
remedies arising under or in connection with this Lease.

 

24.           [Intentionally
Omitted].

 

25.           Estoppel
Certificates. Each party within thirty (30) days after receipt of written notice from the other party will execute and
deliver to the other party a commercially reasonable estoppel certificate stating that this Lease is unmodified and in full force
and effect, or in full force and effect as modified, and stating the modifications and that there are no defaults under the Lease,
or stating the default and the nature thereof if defaults are claimed. The estoppel certificate also shall state the amount of
Minimum Annual Rent (to the extent specified herein or otherwise known) and the dates to which such Rent has been paid in advance.
Execution of the estoppel certificate will not constitute a waiver of claims by either party with respect to any default under
this Lease if the party executing the estoppel certificate is not aware of the default.

 

    19 

     

    

 

26.           Notices.
All notices or demands of any kind which either party is required or desires to give or make upon the other in connection with
this Lease or arising out of the relationship created hereby, shall be in writing and shall be given or made (subject to the right
of either party to designate a different address by notice given as provided herein) by United States registered or certified
mail, postage prepaid, or by a nationally recognized overnight courier service which maintains delivery records, such as FedEx,
UPS, or DHL, addressed as follows:

 

If
to Landlord:

 

[              ]

Attn:
[              ]

Email:
[              ]

Attn:
[              ]       Email:
[              ]

 

with
a copy to (which shall not constitute notice):

 

[
             ]

Attn:  [              ]

Email:
[              ]

 

If
to Tenant:

 

c/o
Mechanical Technology, Incorporated

325
Washington Avenue Extension

Albany,
NY 12205

Attn:
Chief Financial Officer

 

with
a copy to (which shall not constitute notice):

 

Soluna
Technologies, Ltd.

232
Madison Avenue, Suite 600

New
York, New York 10016

 

-and-

 

Nixon
Peabody LLP

70
W. Madison St., Suite 3500

Chicago,
IL 60602

Attn:
Robert A. Drobnak

Email:
radrobnak@nixonpeabody.com

 

or
at such other place as either Landlord or Tenant may from time to time, respectively, designate in a written notice given to the
other. Any notice sent by overnight mail shall be deemed to have been given on the date of delivery confirmed by the courier service.

 

    20 

     

    

 

27.           Waiver.
No waiver of any default or breach of any covenant by either party hereunder shall be implied from any omission by either party
to take action on account of such default if such default persists or is repeated, and no express waiver shall affect any default
other than the default specified in the waiver, and then said waiver shall be operative only for the time and to the extent therein
stated. Waivers of any covenant, term, or condition contained herein by either party shall not be construed as a waiver of any
subsequent breach of the same covenant, term, or condition. The consent or approval by either party to, or of, any act by either
party requiring further consent or approval shall not be deemed to waive or render unnecessary such further or future consent
or approval.

 

28.           Complete
Agreement. It is expressly agreed that this Lease contains all terms, covenants, conditions, warranties, and agreements
of the parties relating in any manner to the rental, use, and occupancy of the Premises, and that no prior agreement or understanding
pertaining to the same shall be valid or of any force or effect, and that the terms, covenants, conditions, and provisions of
this Lease cannot be altered, changed, modified, or added to, except by written agreement signed by the parties hereto.

 

29.           Hazardous
Materials.

 

29.1        
Definitions. The term “Hazardous Material” shall mean (a) any material, waste, pollutant, contaminant,
hazardous or toxic substance or waste, petroleum, petroleum-based substance or waste, special waste, or any constituent of any
such substance or waste, that is regulated by any governmental authority or for which liability or standards of care may be imposed
pursuant to applicable laws, including, but not limited to, any material or substance which is (1) defined as a “hazardous
waste,” “hazardous material,” “hazardous substance,” “extremely hazardous waste,” “special
waste” or “restricted hazardous waste” under any applicable laws, (2) asbestos or asbestos containing material,
(3) polychlorinated biphenyls, and (4) regulated radioactive material, (b) any per or polyfluoroalkyl substances, and (c) 1-4,
dioxane. The term “Environmental Law” means any federal, state or local law, ordinance, regulation, order,
permit, license, decree, common law, or treaty now or hereafter in force regulating, relating to or imposing liability or standards
concerning Hazardous Materials or the protection of health and safety, the environment or natural resources.

 

29.2        
Indemnification. Landlord shall protect, defend (with counsel selected by Landlord and reasonably acceptable to
Tenant), indemnify and hold Tenant harmless from any and all claims, losses or damage incurred by Tenant, including, without limitation,
reasonable attorneys’ fees, following the Commencement Date resulting directly or indirectly from (a) the presence
or release of Hazardous Materials on or under the Premises (other than any Hazardous Materials released or first introduced to
the Premises by Tenant or any of its agents, employees or contractors) on or prior to the Commencement Date; (b) any material
inaccuracy in any representation or warranty given by Landlord hereunder with respect to Hazardous Materials, or (c) any
acts by Landlord or the Landlord Parties relating to or causing the existence of any Hazardous Materials on, in or under the Premises.
Following the Commencement Date, Tenant shall protect, defend (with counsel selected by Tenant and reasonably acceptable to Landlord),
indemnify and hold harmless Landlord and the Landlord Parties from any and all claims, losses or damage incurred by Landlord resulting
directly or indirectly from any use, presence, removal or disposal of any Hazardous Materials, to the extent such liability, obligation,
damage or costs was a result of actions caused or permitted by Tenant or any of its agents, employees or contractors. Landlord
shall be responsible at its sole cost for remediating or cleaning up any Hazardous Materials located on or under the Premises
at any time for which Tenant is not required to indemnify Landlord for hereunder to the extent (i) required by any governmental
authority with jurisdiction over the Premises or (ii) the same interferes with Tenant’s operation on the Premises.

 

    21 

     

    

 

30.           Indemnification.

 

30.1        
Landlord hereby agrees to indemnify, defend and hold harmless Tenant and its affiliates from and against any and all costs, expenses,
liabilities, claims, demands, suits, judgments and interest, including, without being limited to, reasonable attorneys’
fees and disbursements, as a result of, arising out of or directly or indirectly relating to any of the following: (i) any
events or circumstances occurring at the Premises on or before the Commencement Date, (ii) any breach of, or inaccuracy in, any
representation or warranty made by Landlord in this Lease or in any other Transaction Document (including any schedule, annex
or exhibit to any of the foregoing), (iii) any civil or criminal forfeiture action with respect to the Premises (including from
any loss of use as a result thereof) and (iv) any breach or violation of any covenant or other agreement of Landlord in this Lease
or in any other Transaction Document (including any schedule, annex or exhibit to any of the foregoing).

 

30.2        
Tenant hereby agrees to indemnify, defend and hold harmless Landlord and its affiliates from and against any and all costs, expenses,
liabilities, claims, demands, suits, judgments and interest, including, without being limited to, reasonable attorneys’
fees and disbursements, as a result of, arising out of or directly or indirectly relating to any of the following: (i) any
events or circumstances occurring at the Premises after the Commencement Date (other than any forfeiture of the Premises), (ii)
any breach of, or inaccuracy in, any representation or warranty made by Tenant in this Lease or in any other Transaction Document
(including any schedule, annex or exhibit to any of the foregoing) and (iii) any breach or violation of any covenant or other
agreement of Tenant in this Lease or in any other Transaction Document (including any schedule, annex or exhibit to any of the
foregoing).

 

30.3        
Each of Tenant and Landlord represents and warrants to the other that it has not dealt with any broker or finder in connection
with this Lease and the Building Ground Lease other than Broker. Tenant shall pay the amounts due to the Broker under the Tenant
Broker Agreement, and Landlord shall pay the amounts due to the Broker and transfer the portion of the Initial Shares to Broker
required under the Landlord Broker Agreement. Landlord hereby agrees to indemnify, defend and hold harmless Tenant from and against
any and all costs, expenses, liabilities, claims, demands, suits, judgments and interest, including, without being limited to,
reasonable attorneys’ fees and disbursements, arising out of or in connection with any claim by Broker with respect to this
Lease and the Building Ground Lease other than any claim with respect to the Tenant Broker Agreement. Landlord and Tenant each
covenant and agree to indemnify and hold harmless the other from and against any and all costs, expenses, liabilities, claims,
demands, suits, judgments and interest, including, without being limited to, reasonable attorneys’ fees and disbursements,
arising out of or in connection with any claim by any other broker or agent with respect to this Lease and the Building Ground
Lease, the negotiation of this Lease and the Building Ground Lease or the transactions contemplated herein or therein based upon
the acts of the indemnifying party.

 

    22 

     

    

 

30.4        
The provisions of this Section 30 shall survive the expiration or earlier termination of this Lease.

 

31.           Memorandum
Of Lease. For the purpose of giving notice of Tenant’s rights to others dealing with any of the real property referred
to in this Lease, Landlord will execute, acknowledge, deliver to Tenant in the form attached hereto as Exhibit C (or
other form reasonably satisfactory to Tenant and Landlord) a “short form” or “memorandum” of this Lease,
which shall set forth any provisions of this Lease requested by Tenant. Landlord shall pay for any transfer taxes resulting from
said recordation and Tenant shall pay for all recording fees associated therewith.

 

32.           Assignment
And Subletting.

 

32.1        
Permitted. Tenant may, without Landlord’s consent, sublet the Premises or assign this Lease or any interest
therein to any person whomsoever, provided, however, no such sublease or assignment shall release Tenant from any of its obligations
under this Lease, except in connection with an assignment to an affiliate of Tenant regardless of the tangible net worth of such
Affiliate or an assignment to a non-Affiliated entity that has a tangible net worth equal to or greater than the tangible net
worth of Tenant on or about the date of assignment. Tenant shall deliver certified financials of both Tenant and assignee demonstrating
the tangible net worth of each.

 

32.2        
Procedures. Should Tenant desire to enter into an assignment or sublease (a “Transfer”), Tenant
shall, by no later than ten (10) days prior to such Transfer, provide Landlord with written notice of its intent to do so via
any manner permitted pursuant to the “Notices” provision of this Lease.

 

33.           Subordination
And Non-Disturbance Agreements.

 

33.1        
Landlord agrees that this Lease shall be paramount to any mortgage or deed of trust now encumbering, or which may thereafter encumber,
the Premises and paramount to any and all advances to be made thereunder and to the interest thereon and all renewals, replacements,
and extensions thereof. Notwithstanding the above, however, if Landlord wishes to encumber the Premises and/or improvements covered
by this Lease by way of mortgage or deed of trust or to obtain additional advances thereunder or to renew, replace, or extend
the same (collectively, “Future Encumbrances”) and to subordinate this Lease thereto, Landlord shall be entitled
to do so as long as the holder of the mortgage or deed of trust (“Encumbrancer”) executes and delivers to Tenant
a Subordination, Non-Disturbance and Attornment Agreement (“SNDA”) in form and substance reasonably acceptable
to Tenant.

 

    23 

     

    

 

33.2        
Prior to the Commencement Date, Landlord shall obtain and deliver to Tenant a non-disturbance agreement in form and substance
reasonably satisfactory to Tenant from the lienholder(s) (e.g. beneficiary, mortgagee, etc.) of all mortgage(s) or deed(s) of
trust or similar instrument(s) encumbering the Premises, if any, which encumbrance existed on or prior to the Effective Date (“Non-Disturbance
Agreement”).

 

34.           Representations
and Warranties.

 

34.1        
Landlord. Landlord makes the following representations and warranties for the benefit of Tenant:

 

34.1.1
Landlord is a limited liability company that has been duly organized and is validly existing and in good standing under the laws
of the State of Delaware and is authorized to do business and to own real property in the state in which the Premises is located;

 

34.1.2
Landlord has full power and right to enter into and perform its obligations under the Transaction Documents and this Lease is
binding on Landlord in accordance with its terms;

 

34.1.3
The execution and delivery of the Transaction Documents and the consummation of the transactions contemplated thereby (1) have
been duly authorized by all necessary action on the part of Landlord, (2) do not require any governmental or other consent
(including judicial consent) other than consents that have been obtained as of the Effective Date and remain in effect as of the
Commencement Date and (3) will not result in the breach of any agreement, indenture or other instrument to which Landlord
is a party or is otherwise bound;

 

34.1.4
Except as set forth on Schedule 34.1, there is no pending or, to the best of Landlord’s knowledge, threatened litigation,
proceeding or investigation (by any person, governmental or quasi-governmental agency or authority or otherwise) which might materially
adversely affect the ownership, use, occupancy, value, operation or title of the Premises;

 

34.1.5
Landlord is a “non-foreign person” within the meaning of Section 1445 of the United States Internal Revenue Code
of 1986, as amended, and the regulations issued thereunder;

 

34.1.6
Landlord has a valid fee simple absolute estate in the Premises free and clear of all liens, conditions, covenants, restrictions,
rights of way, or regulations (“Exceptions”) other than those specified in Exhibit E hereto, and not
subject to any leases or tenancies, and that Landlord shall not enter into any leases and no additional encumbrances shall be
recorded against the Premises absent the consent of Tenant;

 

34.1.7
Landlord has no knowledge of (i) enacted, pending or proposed condemnation proceedings or other governmental action, (ii) pending
or threatened litigation or (iii) current or proposed plans to alter access to the Premises;

 

    24 

     

    

 

34.1.8
The Premises (including any parking areas or facilities) has been and is presently used and operated in compliance in all material
respects with, and in no material way violates any, applicable statute, law, regulation, rule, ordinance, order or permit of any
kind whatsoever affecting the Premises or any part thereof (“Applicable Laws”) or any matters of record;

 

34.1.9
To Landlord’s knowledge, there are no Hazardous Materials present on the Premises (in soil, groundwater, or soil vapor)
in quantities or under conditions that would require investigation, removal, remediation, or other treatment under Environmental
Laws;

 

34.1.10
Landlord has not received in the past five (5) years any written orders of any governmental authority or other agreements exist
requiring Landlord or any other person to perform any remediation of any Hazardous Materials on, or migrating onto or from, the
Premises;

 

34.1.11
Except for those items described on Exhibit E hereto, there are no environmental easements or deed restrictions on the Premises
that restrict the current or future uses of the Premises due to the presence of Hazardous Materials on the Premises.

 

34.1.12
Except as set forth on Schedule 34.1, the Premises are neither listed nor, to Landlord’s knowledge, after due inquiry, proposed
to be listed, by the United States Environmental Protection Agency or by any state or local government on any similar list of
known or suspected contaminated sites;

 

34.1.13
Landlord has provided to Tenant, electronically or otherwise, every material environmental report related to Hazardous Materials
at the Premises in possession or reasonable control of Landlord;

 

34.1.14
There are no underground storage tanks on the Premises;

 

34.1.15
There are no guaranties or warranties in favor of Landlord in effect with respect to the Premises;

 

34.1.16
 (1) All of the agreements (written or oral and whether or not of record) presently solely affecting the Premises to which Landlord
is a party are set forth on Exhibit G attached hereto (the “Contracts”); (2) Landlord has heretofore
delivered to Tenant true and complete copies of each of the Contracts; (3) Landlord is not in default on any of its material
obligations under any of the Contracts and knows of no material default on the part of the other parties thereto; and (4) the
Contracts represent the complete agreement between Landlord and such other parties as to the services to be performed or materials
to be provided thereunder and the compensation to be paid for such services or materials, as applicable, and such other parties
possess no unsatisfied claim against Landlord; and

 

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34.1.17
All of the material certificates, licenses and permits from governmental authorities required for the current ownership, use,
occupancy, operation and maintenance of the Building have been obtained by Landlord and are in full force and effect.

 

34.2         
Tenant. Tenant makes the following representations and warranties for the benefit of Landlord:

 

34.2.1
Tenant is duly incorporated or organized, as applicable, validly existing, in good standing in the state of its incorporation
or organization, as applicable, and has all requisite power and authority to own and lease property and conduct business in the
state where the Premises are located, and that each individual executing this Lease on behalf of Tenant is duly authorized to
execute and deliver this Lease on behalf of Tenant;

 

34.2.2
Tenant has full power and right to enter into and perform its obligations under the Transaction Documents and this Lease is binding
on Tenant in accordance with its terms;

 

34.2.3
The execution and delivery of the Transaction Documents and the consummation of the transactions contemplated thereby (1) have
been duly authorized by all necessary action on the part of Tenant, (2) do not require any governmental or other consent and (3)
will not result in the breach of any agreement, indenture or other instrument to which Tenant is a party or is otherwise bound;
and

 

34.2.4
There is no action, suit or proceeding pending or, to the best of Tenant’s knowledge, threatened against Tenant in any court
or by or before any other governmental agency or instrumentality which would materially and adversely affect the ability of Tenant
to carry out the transactions contemplated by this Lease.

 

35.           Covenant
of Quiet Enjoyment. Subject to Tenant paying the Minimum Annual Rent or any other sums herein provided and performing
all the covenants and conditions of this Lease on its part to be performed, Tenant shall and may peaceably and quietly have, hold
and enjoy the Premises during the Term hereof. Landlord shall not perform or permit any activities at or near the Premises which
unreasonably disturb Tenant’s business operations.

 

36.           Unavoidable
Delay. If either party shall be prevented or delayed from punctually performing any obligations or satisfying any condition
under this Lease by any strike, lockout, labor dispute, unavailability of services, labor or materials, acts of God, unusually
inclement weather, unusual governmental restriction or delay, regulation or control, enemy or hostile governmental action, civil
commotion, insurrection, sabotage, fire or other casualty, epidemic or pandemic or any condition caused by the other party (an
“Unavoidable Delay”), then the time to perform such obligation or to satisfy such condition shall be extended
on a day-for-day basis for the period of the delay caused by such event; provided, however, that the party claiming the benefit
of this Section shall, as a condition thereto, give notice to the other party in writing within ten (10) days of the incident
specifying with particularity the nature thereof, the reason therefor, the date and time such incident occurred and a reasonable
estimate of the period that such incident will delay the fulfillment of obligations contained herein. Failure to give such notice
within the specified time shall render such delay invalid in extending the time for performing the obligations hereunder, but
only to the extent that the other party suffers actual prejudice as a result thereof. This Section shall not apply to the
inability to pay any sum of money due hereunder or the failure to perform any other obligation due to the lack of money or inability
to raise capital or borrow for any purpose.

 

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37.           Landlord’s
Cooperation. Landlord will cooperate with Tenant in all matters relative to the Premises, including required municipal
consents and permits, and will execute all papers proper or necessary in connection therewith, subject to the limitations in Section
8.1 above.

 

38.           Publicity.
Landlord and Tenant shall, prior to the Commencement Date, maintain the confidentiality of this transaction and shall not,
except as required by law, court order or direction of any governmental authority, disclose the terms of this Lease or of such
lease to any third parties whomsoever other than investors or prospective investors in Landlord, Tenant, Parent or the principals
of the Broker, Title Company and such other persons whose assistance is required in carrying out the terms of this Lease. If Landlord,
Parent or Tenant is required by law, court order or any governmental authority or otherwise desires to issue such a press release
or other public communication concerning this Lease prior to the Commencement Date, such party shall deliver a copy of the proposed
press release or other public communication to the other party for its review at least three (3) business days prior to its issuance
(other than the initial press release and other initial public communications which shall only be required to be delivered to
the other party with as much advance notice prior to the issuance of such initial communications, as is commercially reasonable).

 

39.           Binding
Covenants on Successors.

 

39.1        
Each and all of the covenants, provisions, and conditions of this Lease to be performed by or on the part of Landlord, whether
affirmative or negative in nature, are intended to and shall bind Landlord, its successors, and assigns at any time and from time
to time and shall inure to the benefit of Tenant, its successors, tenants, and assigns, and such covenants, provisions, and conditions
are intended to be for the benefit of Tenant and the Premises.

 

39.2        
Each and all of the covenants, provisions, and conditions of this Lease to be performed by or on the part of Tenant, whether to
be performed on or in the Premises and whether affirmative or negative in nature, are intended to and shall bind Tenant, its successors,
sublessees, and assigns, and such covenants, provisions, and conditions are intended to be for the benefit of Landlord.

 

40.           Landlord
Transfers. If Landlord’s interest in the Premises is sold or conveyed, other than pursuant to a mortgage or transfer
for security purposes only, Landlord will be relieved of all obligations and liabilities accruing on the part of Landlord after
the date the sale is consummated if the following conditions are satisfied. All obligations of Landlord under the Lease must be
expressly assumed in writing by Landlord’s successor in interest. This Lease will not be affected by any such sale. Tenant
agrees to attorn to the purchaser or assignee, if (i) all of Landlord’s obligations under this Lease are assumed in
writing by the transferee, and (ii) Landlord is not in default at the date of such transfer.

 

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41.           Compliance
with Laws.

 

41.1        
Tenant’s Compliance with Law Obligations. Tenant agrees at its own expense to comply with all Laws affecting
Tenant’s use or occupancy of the Premises, except that Tenant shall have no responsibility to correct or remedy (i) any
violations of Laws related in any way to the Premises existing on or prior to the Commencement Date, (ii) any violations
of Laws caused by the action or inaction of Landlord, or its employees, agents or contractors, or (iii) any violations of
Laws related to the existence of Hazardous Materials on the Premises except as expressly provided elsewhere in this Lease. Tenant
may at its own expense contest by appropriate legal proceedings the validity of any Law affecting Tenant’s use and occupancy
of the Premises. If compliance therewith may be legally held in abeyance during such contest without subjecting Landlord or Tenant
to liability for failure to comply, Tenant may postpone compliance until the final determination of any such proceedings.

 

41.2        
Landlord’s Compliance with Law Obligations. Except for the obligation of Tenant under Section 41.1, Landlord
shall at all times comply, or cause compliance with, the requirements of all Laws with respect to the Premises, and shall make
any alteration, addition, or change required to be made under such Laws.

 

42.           Signs
and Satellite Dishes. Subject to Tenant receiving all required governmental permits and approvals, Tenant shall have the
right to install any signage and/or satellite dishes at the Premises.

 

43.           Miscellaneous
Provisions.

 

43.1        
Construction. Both parties certify to their full familiarity with the provisions hereof and agree that the provisions
hereof are not to be construed either for or against either party.

 

43.2        
Parties Unrelated. Nothing herein contained shall be deemed for any purpose as creating any relation between the
parties hereto other than the relationship of Landlord and Tenant.

 

43.3        
Governing Law. Except as otherwise expressly provided herein, this Lease shall be governed exclusively by the provisions
hereof and, solely with respect to questions of real property law, by the laws of the state where the Premises is located as the
same from time to time exist.

 

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43.4        
Number/Gender. As used in this Lease and when required by the context, each number (singular and plural) shall include
all numbers, and each gender shall include all genders.

 

43.5        
Severability. The unenforceability, invalidity, or illegality of any provision shall not render the other provisions
unenforceable, invalid or illegal.

 

43.6        
Captions. Captions of Section and parts of this Lease are for convenience only and shall not be considered
in resolving any questions of interpretation or construction.

 

43.7        
Covenants. Whenever in the Lease words of obligation or duty are used, such words shall have the force and effect
of covenants, subject in each case to grace periods provided. Any obligation imposed by either party hereto shall include the
imposition on such party of the obligation to pay all costs and expenses necessary to perform such obligation.

 

43.8        
Special Damages. Under no circumstances whatsoever shall Landlord or Tenant ever be liable hereunder for consequential,
punitive or special damages.

 

43.9        
Exhibits. Exhibits attached hereto are made a part hereof by this reference.

 

44.           Confidentiality.

 

44.1        
Confidentiality Obligations. Tenant acknowledges and agrees that it is bound by the terms of the Confidentiality
Agreement which will remain in full force and effect from and after the date of this Lease and that Tenant will, and will cause
its Representatives to, comply with the terms and conditions of the Confidentiality Agreement with respect to any access to or
information of Landlord or its Affiliates. If this Lease is properly terminated for any reason, the Confidentiality Agreement
and the provisions of this Section 44 will continue in full force and effect for the remaining term of the Confidentiality Agreement.

 

44.2        
Definitions for this Section 44 only.

 

44.2.1
“Confidentiality Agreement” means the Confidentiality Agreement between Parent and Landlord dated February
1, 2021.

 

44.2.2
“Representatives” means, with respect to any Person, such Person’s Affiliates and its and their respective
directors, officers, employees, agents, auditors, counsel, investment bankers and other advisors.

 

(signature
page follows)

 

    29 

     

    

 

IN
WITNESS WHEREOF, the parties hereto have executed this Lease on the date set forth above.

 

	TENANT:	 	LANDLORD:
	 	 	 
	EcoChain
    Block LLC	 	[         ]
	 	 	 
	By:	 	 	By:	 
	 	Name:	 	 	 	Name:	 
	 	Its:	 	 	 	Its:	 

 

    30 

     

    

 

SCHEDULE
34.1

 

In
connection with the exceptions detailed in Section 34.1.4, Landlord discloses that its parent companies,
[       ] and [       ] are named defendants in a lawsuit
entitled [       ], [       ], pending in the Court of
Chancery in the State of Delaware, where Plaintiff has sought, inter alia, damages, an accounting, a constructive trust, and other
forms of relief. Landlord further discloses that the United States has brought forfeiture proceedings against some assets owned by
its ultimate beneficial owners in relation to the activities of [       ] and that there is an
investigation ongoing into these activities.

 

In
connection with the exceptions detailed in Section 34.1.12, Landlord discloses that, based on ongoing studies in the vicinity
of the Entire Parcel, the [       ] Department of Environmental Protection ([       ])
has requested a formal Site Characterization to be performed pertaining to old industrial fill placed on site. This document was
prepared in good faith and is currently being reviewed by the [       ].  Although the
outcome of the [       ] review is undetermined at this time, it is expected that the management
of this material in-place will be recommended. Management of the site may also include some form of deed restrictions and special
designation such as Superfund or Superfund Alternative. The ultimate outcome will not be known until all parties agree to a mutual
course of action.

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