Document:

Exhibit 10.3

 

[Execution]

 

AMENDMENT NO. 2 TO CREDIT AGREEMENT AND CONSENT

 

AMENDMENT NO. 2 TO CREDIT
AGREEMENT AND CONSENT, dated December 29, 2021 (this “Amendment No. 2”), by and among WELLS FARGO BANK, NATIONAL ASSOCIATION,
a national banking association, in its capacity as agent pursuant to the Credit Agreement (as hereinafter defined) acting for and on behalf
of the parties thereto as lenders (in such capacity, “Agent”), the parties to the Credit Agreement as lenders (individually,
each a “Lender” and collectively, “Lenders”), TESSCO INCORPORATED, a Delaware corporation (“Tessco”),
GW SERVICE SOLUTIONS, INC., a Delaware corporation (“GW”), TESSCO SERVICE SOLUTIONS, INC., a Delaware corporation (“Service”),
and TCPM, INC., a Delaware corporation (“TCPM”, and together with TESSCO, GW, SERVICE and any other Person that becomes
a Borrower under the Credit Agreement, each individually a “Borrower”, and collectively, the “Borrowers”),
TESSCO TECHNOLOGIES INCORPORATED, a Delaware corporation (“Parent”), TESSCO BUSINESS SERVICES, LLC, a Delaware limited
liability company (“TBS”), TESSCO INTEGRATED SOLUTIONS, LLC, a Delaware limited liability company (“TIS”),
TESSCO COMMUNICATIONS INCORPORATED, a Delaware corporation (“TCI”), TESSCO FINANCIAL CORPORATION, a Delaware corporation
(“TFC”), and WIRELESS SOLUTIONS INCORPORATED, a Maryland corporation (“WSI”, and together Parent,
TBS, TIS, TCI, TFC and any other Person that becomes a Guarantor under the Credit Agreement, each a “Guarantor” collectively
 “Guarantors”).

 

W I T N E S S E T H :

 

WHEREAS, Agent, Lenders, Borrowers
and Guarantors have entered into financing arrangements pursuant to which Lenders (or Agent on behalf of Lenders) may make loans and advances
and provide other financial accommodations to Borrowers as set forth in the Credit Agreement, dated October 29, 2020, by and among
Agent, Lenders and Borrowers, as amended by Amendment No. 1 to Credit Agreement, dated July 12, 2021 (as the same now exists and is supplemented
pursuant hereto and may hereafter be further amended, modified, supplemented, extended, refinanced, renewed, restated or replaced, the
 “Credit Agreement”) and the other Loan Documents;

 

WHEREAS, Borrowers have requested
certain consents and desire to amend certain provisions of the Credit Agreement as set forth herein, and Agent and Lenders are willing
to provide such consents and agree to such amendments on the terms and subject to the conditions set forth herein; and

 

WHEREAS, by this Amendment
No. 2, Agent, Lenders, Borrowers and Guarantors desire and intend to evidence such amendments and consents.

 

     

     

    

 

NOW THEREFORE, in consideration
of the foregoing and the mutual agreements and covenants contained herein, and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1.                 
 Definitions.

 

(a)               Additional
Definitions. As used herein, the following terms shall have the meanings given to them below and the Credit Agreement and the other
Loan Documents are hereby amended to include, in addition and not in limitation, the following definitions:

 

(i)               “Amendment
No. 2” means Amendment No. 2 to Credit Agreement and Consent, dated December 29, 2021, by and among Agent, Lenders,
Borrowers and Guarantors, as the same now exists or may hereafter be amended, modified, supplemented, extended, renewed, restated or
replaced.

 

(ii)             
“Reno Mortgage” means the Deed of Trust, Assignment or Rents, Security Agreement and Fixture Filing by Reno
SPE in favor of First American Title Insurance Company for the benefit of Symetra Life Insurance Company (and its successors and assigns)
with respect to the Reno Real Property to be entered into on or after the date of Amendment No. 2, in form and substance reasonably satisfactory
to Agent.

 

(iii)             “Reno Real Property” means the Real Property (a) of Tessco prior to the consummation of the transfer permitted
in Section 2(a) of this Amendment No. 2 and (b) of Reno SPE after the consummation of the transfer permitted in Section 2(a) of this Amendment
No. 2, located at 4775 Aircenter Circle, Reno, Nevada 89502.

 

(iv)            
 “Reno SPE” means Tessco Reno Holding LLC, a Nevada limited liability company.

 

(b)              
Amendment to Definitions.

 

(i)                
 The definition of “Permitted Indebtedness” set forth in the Credit Agreement is hereby amended by (A) deleting the
reference to “and” at the end of clause (p) therein, (B) deleting the period at the end of clause (q) therein and replacing
it with “, and” and (C) adding the following new clause (r) at the end thereof:

 

“(r) Indebtedness of Reno SPE arising
in connection with the Reno Mortgage, provided, that, (i) the aggregate principal amount of such Indebtedness shall not
exceed $6,750,000 and shall be on terms and conditions reasonably satisfactory to Agent, (b) by no later than three (3) Business Days
after the date of the incurrence of such Indebtedness, all of the Net Cash Proceeds thereof shall be remitted to the Agent Payment Account
and applied to payment of the Obligations, but shall not reduce the Commitments and (c) such Indebtedness shall be incurred by no later
than 60 days after the date of Amendment No. 2.”

 

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(ii)             
The definition of “Permitted Liens” set forth in the Credit Agreement is hereby amended by (A) deleting the reference
to “and” at the end of clause (r) therein, (B) deleting the period at the end of clause (s) therein and replacing it with
 “, and” and (C) adding the following new clause (t) at the end thereof:

 

“(t) Liens of Symetra Life Insurance
Company (and its successors and assigns) on the assets of the Reno SPE arising under the Reno Mortgage (including Liens on the Reno Real
Property) to secure the Indebtedness permitted by clause (r) of the definition of Permitted Indebtedness;; provided, that,
(i) Agent shall have received, in form and substance satisfactory to Agent, by no later than within thirty (30) days after the incurrence
of such Liens, a mortgagee waiver and access agreement with respect to the Reno Real Property, duly authorized, executed and delivered
by Symetra Life Insurance Company, Reno SPE and Borrowers and (ii) the Reno Mortgage shall be executed, dated and in full force and effect
by no later than 60 days after the date of Amendment No. 2.”

 

(c)              
Interpretation. For purposes of this Amendment No. 2, all terms used herein which are not otherwise defined herein, including
but not limited to, those terms used in the recitals hereto, shall have the respective meanings assigned thereto in the Credit Agreement
as amended by this Amendment No. 2.

 

2.                 
Consents. Notwithstanding anything to the contrary contained in the Credit Agreement, Agent and Lenders hereby consent to:

 

(a)              
(i) the transfer by Tessco to Reno SPE of the title to and ownership interests of the Reno Real Property, (ii) the simultaneous
lease of the Reno Real Property from Reno SPE to Tessco pursuant to the Lease, dated on or about the date of Amendment No. 2, by and between
Tessco and Reno SPE (the “Reno Lease”) and (iii) Tessco making monthly payments to Reno SPE (which Reno SPE shall, in turn,
use to, among other things, pay amounts due under the Reno Mortgage in full) in respect of rent and other costs and expenses of Tessco
arising under the Reno Lease in an amount not to exceed the average of $145,000 per month for the period commencing the month of January,
2022 and together with each month thereafter (and then, commencing the month of January, 2023 and for each month thereafter, such $145,000
monthly average is to be measured on a rolling twelve (12) month basis for the most recently ended twelve (12) month period) so long as,
as of the date of making such payment and after giving effect thereto, no Event of Default shall exist or have occurred and be continuing,
provided, that, (A) each of such transfer and lease back shall occur by no later than 60 days after the date of Amendment
No. 2 and (B) Borrowers shall deliver to Agent, together with the delivery of each Borrowing Base Certificate as required under the Credit
Agreement, a report setting forth the aggregate amounts transferred by Tessco to Reno SPE during the month immediately prior to the month
that such Borrowing Base is delivered and setting forth the average amounts transferred per month for the periods set forth above; and

 

(b)               Tessco
not causing Reno SPE to be joined as a Guarantor under the Loan Documents as required under Section 5.11 of the Credit Agreement, provided, that,
if the Indebtedness arising in connection with the Reno Mortgage permitted under clause (r) of the definition of Permitted
Indebtedness has not been incurred and the Reno Mortgage permitted under clause (t) of the definition of Permitted Liens is not
executed and in full force and effect, in each case, by no later than 30 days after the date of Amendment No. 2, the consent
provided in this Section 2(b) shall no longer be effective and Tessco shall be required, by no later than 40 days after the date of
Amendment No. 2, to cause Reno SPE to be joined as a Guarantor under the Loan Documents as required under and in accordance with
Section 5.11 of the Credit Agreement.

 

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3.                 
Reno SPE Representation. Section 4 of the Credit Agreement is hereby amended by adding the following new Section 4.28 at
the end thereof:

 

“4.28    Reno
SPE.

 

(a)              
Reno SPE shall not (a) own any assets (other than the Reno Real Property and assets related thereto (including cash from lease
rental payments) and other than assets of a non-material nature (including capitalization in an amount not to exceed $150,000), (b) have
any liabilities (other than (i) liabilities in connection with the Reno Mortgage and the other loan documents executed in connection therewith,
as permitted under the Credit Agreement, (ii) liabilities in connection with the ownership and operation of the Reno Real Property and
its lease to Tessco, (iii) liabilities arising by operation of law and (iv) other liabilities of a non-material nature), (c) engage
in any business activity other than activity related to its ownership of the Reno Real Property and (d) maintain or hold cash on hand
(whether in any of its bank accounts or otherwise) at any time in an aggregate amount in excess of $175,000.

 

(b)              
(i) In addition to the financial statements required to be delivered to Agent pursuant to Section 5.1 of the Credit Agreement,
Borrowers shall deliver, or cause to be delivered, to Agent, together with each delivery of financial statements required under Section
5.1, the comparable type of financial statements of the Reno SPE covering the same time periods, and (ii) Tessco shall deliver, or cause
to be delivered, to Agent, by no later than two (2) days after they become available from the applicable banks, monthly bank statements
reflecting the balances and activity of all bank accounts maintained by the Reno SPE.”

 

4.                 
Amendment Fee. In consideration of the amendments and consents set forth herein, Borrowers shall on the date hereof, pay
to Agent, for the account of Lenders, or Agent, at its option, may charge the loan account of Borrowers maintained by Agent, an amendment
fee in the amount of $10,000, which fee is fully earned and payable as of the date hereof and shall constitute part of the Obligations.

 

5.                 
Representations and Warranties. Each Borrower and each Guarantor represents and warrants with and to Agent and Lenders as
follows, which representations and warranties shall survive the execution and delivery hereof:

 

(a)              
no Default or Event of Default exists or has occurred and is continuing as of the date of this Amendment No. 2;

 

(b)              this
Amendment No. 2 and each other agreement to be executed and delivered by Borrowers and Guarantors in connection herewith (collectively,
together with this Consent, the “Amendment No. 2 Documents”) has been duly authorized, executed and delivered by all
necessary corporate or limited liability company action on the part of each Borrower and each Guarantor which is a party hereto and,
if necessary, its equity holders and is in full force and effect as of the date hereof and the agreements and obligations of each Borrower
and each Guarantor contained herein and therein constitute legal, valid and binding obligations of each Borrower and each Guarantor,
enforceable against each Borrower and each Guarantor in accordance with their terms, except as enforceability is limited by bankruptcy,
insolvency, reorganization, moratorium or other laws relating to or affecting generally the enforcement of creditors’ rights and
except to the extent that availability of the remedy of specific performance or injunctive relief is subject to the discretion of the
court before which any proceeding therefor may be brought;

 

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(c)              
the execution, delivery and performance of each Amendment No. 2 Document (i) are all within each Borrower’s and each
Guarantor’s corporate or limited liability company powers and (ii) are not (A) in violation of any provision of federal,
state or local law or regulation applicable to any Borrower or any Guarantor or the Governing Documents of any Borrower or any Guarantor,
where any such violation could, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect or (B) conflict
with, result in a breach of, or constitute (with due notice or lapse of time or both) a default under any Material Contract of any Borrower
or any Guarantor, where any such conflict, breach or default could, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect; and

 

(d)              
all of the representations and warranties set forth in the Credit Agreement and the other Loan Documents, each as amended hereby,
are true and correct in all material respects on and as of the date hereof, as if made on the date hereof, except to the extent any such
representation or warranty is made as of a specified date, in which case such representation or warranty shall have been true and correct
in all material respects as of such date.

 

6.                 
Conditions Precedent. The amendments and consents contained herein shall only be effective upon the satisfaction of each
of the following conditions precedent in a manner satisfactory to Agent:

 

(a)              
Agent shall have received counterparts of this Amendment No. 2, duly authorized, executed and delivered by Borrowers, Guarantors
and the Lenders;

 

(b)              
Agent shall have received, in form and substance satisfactory to Agent, a Collateral Access Agreement in connection with the Reno
Real Property, duly authorized, executed and delivered by Reno SPE;

 

(c)              
Agent shall have received in immediately available funds (or Agent has charged the loan account of Borrowers) the full amount of
the fee referred to in Section 4 hereof; and

 

(d)              
no Default or Event of Default shall exist or have occurred and be continuing, as of the date of Amendment No. 2.

 

7.                  Effect
of this Amendment. Except as expressly set forth herein, no other amendments, consents, changes or modifications to the Loan
Documents are intended or implied, and in all other respects the Loan Documents are hereby specifically ratified, restated and
confirmed by all parties hereto as of the effective date hereof and Borrower shall not be entitled to any other or further amendment
by virtue of the provisions of this Consent or with respect to the subject matter of this Consent. To the extent of conflict between
the terms of this Amendment No. 2 and the other Loan Documents, the terms of this Amendment No. 2 shall control. The Credit
Agreement and this Amendment No. 2 shall be read and construed as one agreement.

 

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8.               Governing
Law. The validity, interpretation and enforcement of this Consent and any dispute arising out of the relationship between the parties
hereto whether in contract, tort, equity or otherwise, shall be governed by the internal laws of the State of New York but excluding
any principles of conflicts of law or other rule of law that would cause the application of the law of any jurisdiction other than the
laws of the State of New York.

 

9.                Binding Effect. This Amendment No. 2 shall be binding upon and inure to the benefit of each of the parties hereto and their
respective successors and assigns.

 

10.             Entire
Agreement. This Amendment No. 2 represents the entire agreement and understanding concerning the subject matter hereof among the
parties hereto, and supersedes all other prior agreements, understandings, negotiations and discussions, representations, warranties,
commitments, proposals, offers and contracts concerning the subject matter hereof, whether oral or written.

 

11.             Headings.
The headings listed herein are for convenience only and do not constitute matters to be construed in interpreting this Amendment No.
2.

 

12.             Counterparts.
This Amendment No. 2, any documents executed in connection herewith and any notices delivered under this Amendment No. 2, may be
executed by means of (i) an electronic signature that complies with the federal Electronic Signatures in Global and National
Commerce Act, state enactments of the Uniform Electronic Transactions Act, or any other relevant and applicable electronic
signatures law; (ii) an original manual signature; or (iii) a faxed, scanned, or photocopied manual signature. Each
electronic signature or faxed, scanned, or photocopied manual signature shall for all purposes have the same validity, legal effect,
and admissibility in evidence as an original manual signature. Agent reserves the right, in its sole discretion, to accept, deny, or
condition acceptance of any electronic signature on this Amendment No. 2 or on any notice delivered to Agent under this Amendment
No. 2. This Amendment No. 2 and any notices delivered under this Amendment No. 2 may be executed in any number of counterparts, each
of which shall be deemed to be an original, but such counterparts shall, together, constitute only one instrument. Delivery of an
executed counterpart of a signature page of this Amendment No. 2 and any notices as set forth herein will be as effective as
delivery of a manually executed counterpart of this Amendment No. 2 or notice.

 

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

 

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IN WITNESS WHEREOF, the parties
hereto have caused this Amendment No. 2 to be duly executed and delivered by their authorized officers as of the day and year first above
written.

 

WELLS FARGO BANK, NATIONAL

ASSOCIATION, as Agent and a Lender

 

	By:	/s/ Ernest May	 
	Name: Ernest May	 
	Title: Director	 

 

     

     

    

 

	 	BORROWERS:
	 	 
	 	TESSCO INCORPORATED
	 	 
	 	By: 	/s/ Aric Spitulnik
	 	Name:	Aric Spitulnik
	 	Title: 	CFO
	 	 
	 	GW SERVICE SOLUTIONS, INC. 
	 	 
	 	By:	/s/ Aric Spitulnik
	 	Name:	Aric Spitulnik
	 	Title:	CFO
	 	 
	 	TESSCO SERVICE SOLUTIONS, INC. 
	 	 
	 	By:	/s/ Aric Spitulnik
	 	Name:	Aric Spitulnik
	 	Title: 	CFO
	 	 
	 	TCPM, INC. 
	 	 
	 	By:	/s/ Aric Spitulnik
	 	Name:	 Aric Spitulnik
	 	Title: 	CFO
	 	 
	 	GUARANTORS:
	 	 
	 	TESSCO TECHNOLOGIES INCORPORATED
	 	 
	 	By:	/s/ Aric Spitulnik
	 	Name:	Aric Spitulnik
	 	Title: 	CFO
	 	 
	 	TESSCO BUSINESS SERVICES, LLC 
	 	 
	 	By:	/s/ Aric Spitulnik
	 	Name:	Aric Spitulnik
	 	Title: 	CFO

 

     

     

    

 

	 	TESSCO INTEGRATED SOLUTIONS, LLC 
	 	 
	 	By:	/s/ Aric Spitulnik
	 	Name:	Aric Spitulnik
	 	Title: 	CFO
	 	 
	 	TESSCO COMMUNICATIONS INCORPORATED 
	 	 
	 	By:	/s/ Aric Spitulnik
	 	Name:	Aric Spitulnik
	 	Title: 	CFO
	 	 
	 	TESSCO FINANCIAL CORPORATION 
	 	 
	 	By:	/s/ Aric Spitulnik
	 	Name:	Aric Spitulnik
	 	Title:	CFO
	 	 
	 	WIRELESS SOLUTIONS INCORPORATED 
	 	 
	 	By:	/s/ Aric Spitulnik
	 	Name:	Aric Spitulnik
	 	Title:	CFOExhibit 10.4

 

LEASE

 

THIS LEASE is entered into
as of the 29th day of December, 2021 (the “Effective Date”) between TESSCO RENO HOLDING, LLC, a Nevada limited liability
company (hereinafter “Lessor”), and TESSCO INCORPORATED, a Delaware corporation (hereinafter “Lessee”).

 

		1.	PREMISES

 

Lessor hereby leases to the
Lessee the following that certain real property owned by Lessor and commonly known as APN 021-467-22 located at 4775 Aircenter Circle,
Reno, Nevada 89502 in Washoe County, Nevada, as more particularly described on Exhibit A hereto (the “Premises”).

 

		2.	TERM

 

This Lease shall commence
as of the Effective Date and continue until the fifteenth (15th) anniversary of the Effective Date (the “Term”),
unless sooner terminated as provided herein.

 

		3.	MINIMUM RENT; ADDITIONAL RENT

 

On the first day of each month
during the Term of this Lease, Lessee shall pay to the Lessor, as a minimum monthly rental, without deduction or offset or demand, the
sum of Sixty Five Thousand One Hundred Sixty Six and 67/100 Dollars ($65,166.67), payable in advance and prorated for the first month
in which the Effective Date falls. Rent shall become payable as of the Effective Date. Payment of rent shall be made to Lessor at the
address provided in Section 15 hereof, or at such other address as Lessor may from time to time designate by written notice to Lessee.

 

This Lease shall be a “Triple
Net Lease” and Lessee recognizes and acknowledges, notwithstanding terms or provisions to the contrary provided for herein and without
limiting the generality of the other terms or provisions of this Lease, that it is the intent of the parties hereto that any and all rent
in this Lease provided to be paid by Lessee to Lessor, shall be net to Lessor, and any and all expenses incurred in connection with the
Premises, or in connection with the operations thereon, including but not limited to any administrative expenses, management services,
outside professional services, all taxes, assessments, general or special license fees, insurance premiums, public utility bills and costs
of repair, maintenance and operation of the Premises and all buildings, structures, roofs, permanent fixtures and other improvements comprised
therein, together with the appurtenances thereto, shall be paid by Lessee, in addition to the minimum monthly rental provided for herein.

 

		4.	USE

 

Lessee shall use and operate
the Premises to operate, manage and conduct any lawful purposes consistent with the matters of record governing use of the property of
which the Premises are a part.

 

     

     

    

 

		5.	LAWS AND REGULATIONS

 

Lessee shall pay all applicable
license fees and taxes, excluding real property taxes, and comply with all governmental laws, regulations and ordinances which now or
hereafter may appertain to the operation and use of the Premises.

 

		6.	MAINTENANCE OF THE PREMISES; UTILITIES

 

Lessee shall maintain the
Premises in neat and orderly condition and in good repair, reasonable wear and tear excepted. Lessee shall be responsible for all utility
charges.

 

		7.	REPAIRS, ALTERATIONS, AND MODIFICATIONS

 

Lessee has inspected the Premises
and is leasing same in “as is - where-is” condition. Lessee shall maintain the Premises in good condition and repair, reasonable
wear and tear excepted, and shall not materially alter, modify or change the Premises without the written consent of the Lessor. Any repairs,
alterations, modifications, and improvements consented to by the Lessor shall be done at the expense and in compliance with all building
codes pertaining thereto, and Lessee hereby holds Lessor harmless and will indemnify Lessor from any and all costs or expenses associated
with the removal, satisfaction or bonding of mechanic’s liens recorded against the Premises for work done at Lessee’s request.

 

		8.	HOLD HARMLESS

 

Lessee waives all claims against
the Lessor for damages to goods or injuries to persons on or about the Premises for any cause arising at any time during the Term of this
Lease. Lessee will indemnify Lessor on account of any damage or injury to persons or property arising from the use of the Premises by
the Lessee, except to the extent such damage or injury is caused by the gross negligence or willful misconduct of Lessor or its agents.

 

		9.	INSURANCE

 

Lessee agrees to maintain
throughout the Term general liability and property damage insurance with a company satisfactory to the Lessor and with combined, single
limits of not less than $1,000,000 in respect of bodily injury or death to any one person and not less than $1,000,000 in respect of any
one occurrence or accident and not less than $1,000,000 for property damage. Said policy shall name the Lessor as an additional insured.
In addition, Lessee shall provide fire and extended coverage insurance naming Lessor as an additional insured on the personal property,
sufficient to cover the replacement cost thereof.

 

		10.	DESTRUCTION

 

If, during the Term, the
Premises are, without the fault of Lessee, destroyed by fire, or other action of the elements, or are partially so destroyed so as
to cause them to be wholly unfit for occupancy, or if the Premises are so badly injured or damaged that they cannot be repaired with
reasonable diligence within one (1) month after such destruction or damage, then the Lessee, at its election, may terminate this
Lease; upon the happening of such casualty or event, the rent hereunder is suspended; upon written notice from the Lessor that
restoration is completed after such casualty, this Lease, including without limitation Lessee’s payment of the rent, shall
resume and the Term extended for such suspension shall resume.

 

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		11.	DEFAULT

 

If default be made in the
payment of rent herein specified or the performance of any other covenant by Lessee required to be performed, then, after ten (10) days
written notice to Lessee of such default, if it is not corrected within that time, Lessor may enter upon said Premises and terminate this
Lease and remove all persons or property therefrom. In the event Lessor or Lessee is required to resort to legal action to enforce any
of the provisions hereof, the court shall award reasonable attorney’s fees to the prevailing party. Following Lessee’s default
and failure to cure, Lessor may, at its option, re-rent the Premises without terminating the Lease at a reasonable rental, and Lessee
shall pay any deficiency thereof, together with costs incurred by Lessor in connection therewith.

 

		12.	RIGHT TO ENTER

 

Lessor, or its agent, shall
have access to the Premises during normal business hours, upon reasonable written notice to Lessee for the purpose of examining or inspecting
the condition thereof, and to exhibit the Premises to prospective purchasers.

 

		13.	ASSIGNMENT OR SUBLEASING

 

Lessee shall not assign this
Lease or any interest therein, nor shall Lessee sublet the demised Premises or any portion thereof, or any right or privilege appurtenant
thereto, without the prior written consent of Lessor. Any assignment or subletting made by Lessee without the prior written consent of
Lessor shall be void.

 

		14.	EXPIRATION

 

Lessee shall quit and surrender
the said Premises at the expiration or other termination hereof, in good order and condition, reasonable amount of wear and use excepted
(damage by the elements expected). If Lessee shall remain in possession of the Premises after the expiration of Term or any extension
thereof, Lessor may elect to treat Lessee as a month-to-month tenant. During such month-to-month tenancy, rent shall be payable at the
same rate as that in effect during the last month of the preceding term, and the provisions of this Lease shall be applicable.

 

		15.	NOTICE

 

Whenever under this Lease
a provision is made for notice/payment of any kind, it shall be deemed sufficient notice/payment and service thereof if such notice/payment
is in writing, addressed as follows:

 

	 	To Lessor: 	TESSCO Reno Holding, LLC

4775 Aircenter Circle

Reno, NV 89502

 

	 	To Lessee: 	TESSCO Incorporated

11126 McCormick Road

Hunt Valley, MD 21031

 

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		16.	WAIVER

 

The waiver of one condition,
covenant or agreement provided for herein shall not be deemed a waiver in respect to any or all other conditions, covenants or agreements
contained herein. The remedies herein expressly given to Lessor shall be cumulative and are not intended to be exclusive of any other
remedies or means of redress of which the Lessor may be lawfully entitled. The exercise of any one remedy by Lessor shall not exclude
the use of any other remedy or remedies.

 

		17.	SUBORDINATION

 

Lessee agrees that this Lease
shall at all times be subject and subordinate to the lien of any mortgage or deed of trust, said term to include security instruments,
that may be placed upon the leased Premises by Lessor. Lessee agrees upon demand, without cost, to execute any instrument that may be
required to effect said subordination; provided, however, as a condition of said subordination, Lessor shall obtain from the mortgagee/beneficiary
in writing an agreement that so long as Lessee faithfully performs its obligations under the terms of this Lease, its tenancy shall not
be disturbed, nor shall the Lease be affected by any default of such mortgage. In the event of foreclosure, the rights of Lessee hereunder
shall expressly survive and the Lease shall continue in all respects provided Lessee fully performs its obligations hereunder.

 

		18.	EMINENT DOMAIN

 

In the event that the Premises
or the building of which they are a part shall be condemned or taken in any manner for any public or quasi-public use, this Lease shall
then cease and be terminated on the date the property is so taken. Lessor shall receive the total of any consequential damages awarded
as a result of condemnation proceedings.

 

		19.	Entire Agreement; Modification

 

This Lease contains the entire
agreement between Lessor and Lessee and shall not be modified in any manner except by an instrument in writing signed by Lessor and Lessee.
There are no oral understandings, terms or conditions, and Lessee has not relied upon any representation, express or implied, by Lessor
not contained in this Lease.

 

		20.	Severability

 

If any term of provision
of this Lease or the application thereof to any person or circumstance shall, to any extent, be invalid or unenforceable, the
remainder of this Lease, or the application of such term or provision to persons or circumstances other than those as to which it is
held invalid or unenforceable, shall not be affected thereby and each term and provision of this Lease shall be valid and be
enforced to the fullest extent permitted by law.

 

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		21.	Applicable Law

 

This Lease shall be governed
by and construed (both as to validity and performance) and enforced in accordance with the laws of the State of Nevada.

 

		22.	Time of the Essence

 

Time shall be of the essence
as to all dates and times of performance.

 

		23.	Applicability to Heirs, Successors and Assigns

 

Subject to Section 13 hereof,
the covenants, terms, conditions, provisions and undertakings in this Lease or in any renewal thereof shall extend to and be binding upon
the heirs, executors, administrators, successors, and assigns of the respective parties hereto, as if they were in every case named and
expressed, and shall be construed as covenants running with the land; and wherever reference is made to either of the parties hereto,
it shall be held to include and apply also to the heirs, executors, administrators, successors and assigns of such party, as if in each
and every case so expressed.

 

		24.	QUIET ENJOYMENT

 

Lessor covenants and represents
that Lessor has the full right and power to execute and deliver this Lease, and to grant the estate leased herein; and that Lessee, on
timely paying the rents and performing the terms and agreements herein contained shall peaceably and quietly have, hold, and enjoy the
Premises and all right appurtenant thereto throughout the Term of the Lease.

 

[SIGNATURE PAGE FOLLOWS]

 

    5

     

    

 

IN WITNESS WHEREOF, the parties
hereto have executed this Lease as of the day and year first above written.

 

	 	LESSOR:
	 	 
	 	TESSCO RENO HOLDING, LLC,
	 	a Nevada limited liability company
	 	 
	 	By:	/s/ Cynthia King
	 	Name:	Cynthia King
	 	Title:	Manager
	 	 
	 	LESSEE:
	 	 
	 	TESSCO INCORPORATED
	 	a Delaware corporation
	 	 
	 	By:	/s/ Cynthia King
	 	Name:	Cynthia King
	 	Title:	VP and Treasurer

 

    6

     

    

 

EXHIBIT A

PREMISES

 

The land referred to herein below is situated
in the County of Washoe, State of Nevada, and described as follows:

 

PARCEL 1:

 

PARCEL B OF PARCEL MAP NO. 4946 FOR TESSCO INCORPORATED
FILED IN THE OFFICE OF THE COUNTY RECORDER OF WASHOE COUNTY, STATE OF NEVADA ON OCTOBER 10, 2006 AS FILE NO. 3695706, OFFICIAL RECORDS.

 

PARCEL 2:

 

ALL THOSE CERTAIN EASEMENT RIGHTS AS SET FORTH
AND DEFINED IN THAT CERTAIN DECLARATION OF COVENANTS, CONDITIONS AND RESTRICTIONS RECORDED APRIL 4, 1985 AS DOCUMENT NO. 989073, OFFICIAL
RECORDS, WASHOE COUNTY, STATE OF NEVADA, AND ANY AMENDMENTS AND ANNEXATIONS THERETO.

 

    A-1

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